Audit report, Lanier County Board of Education, Lakeland, Georgia, year ended June 30, 1994

GA (1180[ ,R,
82(,,,
1-2.a
,q93.94
STATE OF GEORGIA DEPARTMENT OF AUDITS
254 WASHINGTON STREET ATLANTA. GEORGIA 30334

AUDIT REPORT LANIER COUNTY BOARD OF EDUCATION
LAKELAND,GEORGIA YEAR ENDED JUNE 30, 1994

LANIER COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

~ SECTION I

FINANCIAL

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

EXHIBITS

GENERAL PURPOSE FINANCIAL STATEMENTS

COMBINED STATEMENTS - OVERVIEW

A

COMBINED BALANCE SHEET

ALL FUND TYPES AND ACCOUNT GROUP

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

GOVERNMENTAL FUND TYPES

4

C

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - ACTUAL AND BUDGET

GOVERNMENTAL FUND TYPES

5

D . NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

6

ADDITIONAL FINANCIAL INFORMATION

COMBINING STATEMENTS

SPECIAL REVENUE FUND

E

COMBINING BALANCE SHEET

18

F

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

20

CAPITAL PROJECTS FUND

G

COMBINING BALANCE SHEET

22

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

23

SCHEDULES

I SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

24

2 ANALYSIS OF CASH AND CASH EQUIVALENTS

26

3 ACCOUNTS RECEIVABLE

27

LANIER COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

SCHEDULE OF REVENUE

4

STATE FUNDS

28

5

LOCAL AND OTHER FUNDS

29

SCHEDULE OF EXPENDITURES BY OBJECT

6

GOVERNMENTAL FUND TYPES

31

7

LOTTERY PROGRAMS

32

ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

8

OVERALL

35

9

BYPROGRAM

36

10 SCHEDULE OF COMPENSATION OF BOARD MEMBERS

38

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

LANIER COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -
SECTION III INTERNAL CONTROL REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS

SECTION I FINANCIAL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 16, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Lanier County Board ofEducation
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARYINFORMATIONSCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
Ladies and Gentlemen:
We have audited the general purpose financial statements (Exhibits A through D) of the Lanier County Board of Education, as of and for the year ended June 30, 1994, as listed in the table of contents. These financial statements are the responsibility ofthe Board's management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows:
The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles.
94ARL-13

* School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements.
* The Board did not recognize as expenditures, in the year ended June 30, 1994, a portion of salaries and the corresponding employer's cost ofrelated benefits earned for contractual services completed prior to June 30, 1994. Also funds received, subsequent to June 30, 1994, from the Georgia Department ofEducation for the State's share of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were improperly recorded in the year ended June 30, 1994. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed.
The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material.
In our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Lanier County Board of Education as of June 30, 1994, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles.
Our audit was conducted for the purpose offorming an opinion on the general purpose financial statements of the Lanier County Board ofEducation taken as a whole. The combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 10 which includes the Schedule of Federal Financial Assistance) are presented for purposes ofadditional analysis and are not a required part of the general purpose financial statements of the Lanier County Board ofEducation. Such information has been subjected to the auditing procedures applied in the audit ofthe general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole.
A copy ofthis report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code ofGeorgia Annotated Section 50-6-24.
"Z~
Claude L. Vickers State Auditor
CLV:djf 94ARL-13

LANIER COUNTY BOARD OF EDUCATION - 1-

ASSETS
Cash and Cash Equivalents
Accounts Receivable
Inventories Food Donated Commodities Purchased Food
Amount to be Provided in Future Years For Payment of Capital Lease Agreements

BOARD OF EDUCATION BALANCE SHEET AND ACCOUNT GROUP E 3 1994

GOVERNMENTAL FUND

SPECIAL

GENERAL

REVENUE

FUND

FUND

$ 1,108,073.99 $

77,121.91

40,272.20

237,930.36

6,537.58 3,200.53

Total Assets

$ 1,148,346.19 s_=._32.4._.1_9_0._3_8

LIABILITIES AND FUND EQUITY
LIABILITIES
Accounts Payable Salaries Payable Notes Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue Capital Lease Agreements
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Bus Replacement Funds For Continuation of Federal Program For Expired Grant Balances/Questioned Costs For Encumbrances - Governor's Emergency Funds For Inventories Food Donated Commodities Purchased Food For state Capital Outlay Projects
Unreserved Undesignated
Total Fund Equity

$

72,044.82 $

635,000.00

96,822.48 67,709.50
1,347.15

856.00

$ 707 044.82 $ _ _,1;.::.66eL7:..:3;.::.5:...:.13=-

$

1,834.99

$

426.80

$

426.80 $

440 874.57

$ 441,301.37 $

6,537.58 3,200.53
11,573.10 146 482.15 158 055.25

Total Liabilities and Fund Equity

$ 11148,346.19 $

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

324:790.38

EXHIBIT"/>:'

TYPES CAPITAL
PROJECTS FUND

$

79,458.87

2,000.00

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS (Memorandum Onlll JUNE 30 1994 JUNE 30 1993

$ 1,264,654.77 $ 1,532,866.06

280,202.56

487,440.47

6,537.58 3,200.53

7,425.19 2,639.72

$

397 630.49

397 630.49

59,983.92

$

81 458.87 $

397 630.49 $ 1 9.52 225. 93 $ 2,090,355.36

$

81,458.87

$

$

81 458.87 $

$
397 630.49 397 630.49 $

168,867.30 $ 67,709.50 635,000.00
1,347.15 81,458.87
0.00 856.00 397 630.49
1 352,869.31 $

60,186.00 63,496.67 596,920.00
3,537.04 295,800.67
32,222.30
59 983.92
1112146.60

$

0.00

$

0.00

$

81 458.87 $

$

387.39

$

1,834.99

426.80

426.80

20,000.00

6,537.58 3,200.53

7,425.19 2,639.72 39183.29

$

11,999.90 $

70,062.39

587,356.72

908146.37

$ 599 356.62 $ 978,208.76

397 630.49 $ 1 952,225.93 $ 2 090 355.36

-3 -

LANIER COUNIY BOABP OF EPYCATION CQMBINEP STATEMENT OF REVENUES EXPENPIIUBES AND CHANGES IN FUNP BA.LANCES
GO\/ERNMENTAL EUNP TYPES YEAR ENDED JUNE 30 1R94

EXHIBIT"B"

GENERAL FUND

SPECIAL REVENUE
FUND

CAPITAL PROJECTS
FUND

TOTALS lMemorandum On!Y,l
YEAR ENDED
JUNE 30 1994 JUNE30 1993

~

State Funds Federal Funds Local and Other Funds

4,001,528.22 $ 18,081.00
910928.28

263,635.74 $ 744,054.08 108086.10

1,071,008.36 $ 65000.00

5,336,1n.32 $ 762,145.08
1084014.38

4,134,536.94 838,574.48
1 Dn646.43

Tolal Revenues

4 930 547.50 $ 1115n5.93 $ 1136 008.36 $ 7 182 331.79 $ 6045757.85

s-- EXPENDITURES Current lnotruclion
PupilSeMces Improvement cl Instructional SeMces Educational Media SeMces General Administration School Administration Business Administration Maintenance nd Operation d Ptant Student Transportation SeMces Cantral Support SeMces Other Support Sarvices Food Sarvices Operation Enterprise Operation Other Operations cl Non-Instructional SeMces Capital Outlay llebt Service Principal I-
Total~ros
Excou cl Rovan- ..,.. (under) Expenditures

3,064,683.78 $ 356,269.19

3,420,952.97 $ 3,212,866.07

132,548.78 196,939.14 127,297.22 121,154.n 376,984.68 119,712.43 831,050.04 222,342.55
8,399.84 1,257.08 8,700.62 23,767.18 39,324.57

14,7n.87 22,696.26 44,416.42 49,920.76
75,582.12 2,261.75
58,307.66 492,492.49
3,600.00 $ 1,545,195.51

147,321.65 219,637.40 171,713.64 171,075.53 378,984.68 119,712.43 906,632.16 224,604.30
8,399.84 60,564.75 501,193.11 23,767.18 39,324.57 1,548,795.51

133,687.82 198,302.16 138,208.88 149,n8.n 358,397.22 142,459.57 m,460.18 222,492.83 38,271.08
6,649.99 447,114.03
24,167.26 34,834.32 407,849.03

20,198.02 17 807.90

20,198.02 17 807.90

$ 5 312 168.61 $ 1 121 321.52 $ 1 545195.51 $ 7 978 685.64 $ 5887539.19

$ -381 621.11 $

-5 545.58 $ -409187.15 $ -796 353.85 $ 158218.66

QIHEB EIN6NQIN~ BQUBCE (U~Em

Capitol i . Operating Transr.r. In Operating Trans'9rs Out

$ 417,828.51 $
-350 465.90

462.04 $

$ 350,003.88

417,828.51 350,465.90 $ -350465.90

110,000.00 -110000.00

Total Other F11111nc:ing Souroes (USO$)

67382.81 $

462.04 $ 350003.88 $ 417 828.51 $

0.00

Excess d Revenues and Olhar Fmancing Sources """ (under) Expenditures and Other F'""ncing Uses $

-314,258.50 $

-5,063.55 $

-59,183.29 $ -378,525.34 $

158,218.66

FUNP BA.LANCE JUbY 1
Food I ~ - Not Change in Period Donatocl Commodities Purohased Food

755,559.87

163,465.60
-a87.61 560.81

58,183.29

978,208.76
-a87.61 560.81

820,433.87
-1,643.95 1200.18

FUND BA.LANCE JUNE 30

441,301.37 $ 158,055.25 $

0.00 $ 589,356.62 $ 978,208.76

The notes to the general purpose financial statements are an integral part d this statement. -4-

LANIER COUNTY BOARD OF EDUCATION ~Ml:!lf!!EQ filAil;MENT OF REVENUE EXPEND!IVRE ANQ Q!:IANGES IN FUND !laLANQES
61.IVIIL ANQ BVC!!:aEI !,OllERtjME!:!ll,b FUtjQ TYPES
YEAR FNPFPJLJNF 30 1994

EXHIBrr"C"

ACTUAL PER
EXHIBrr"B"

ACTUAL PER
ADJUSTMENTS BUDGET BASIS

BUDGET

VARIANCE FAVORABLE (UNFAVORABLE)

~
state Funds Federal Funds Local and Other Funds

s $ 5,336,1n.32
762,145.09 1,084,014.38

s 0.00 $ 5,336,1n.32 5,421,184.13 $

762,145.09

706,303.62

1,084,014.38

965,476.76

-85,011.81 55,841.47 118,537.62

Total R""""ues

$ 7,182,331.79 $

0.00 $ 7,182,331.79 $ 7,092,964.51 $

89,387.28

EXPE!:jQrruRES
current
Instruction Support Services
Pupil Services Improvement of lnstruotional 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 Enle,prioe Operation& Other Operation& of Non-lnelructional Services Copital outlay Debt Service

$ 3,420,952.97 $
147,321.65 219,637.40 171,713.84 171,075.53 376,984.68 119,712.43 906,632.16 224,604.30
8,399.84 60,584.75 501,193.11 23,767.18 38,324.57 1,548,795.51 38,005.92

0.00 $ 3,420,952.97 $ 3,369,483.14 $

147,321.65 219,637.40 171,713.84 171,075.53 376,984.68 119,712.43 906,632.16 224,604.30
8,399.84 60,584.75 501,193.11 23,767.18 39,324.57 1,548,795.51 38,005.92

133,053.39 204,161.93 140,295.10 155,473.40 371,052.54 142,031.44 369,359.11 244,947.65
3,084.44 60,463.00 420,781.57 21,204.52 35,660.99 1,443,812.00
0.00

-51,469.83
-14,268.26 -15,475.47 -31,418.54 -15,602.13
-5,932.14 22,319.01 -537,273.05 20,343.35 -5,335.40
-101.75 -$),411.54
-2,562.66 -3,663.58 -104,983.51 -38,005.92

Total Expendttures

$ 7,978,685.84 $

0.00 $ 7,978,685.84 $ 7,114,844.22 $

.a63841.42

Excesg of Revenues CNer (under) Expendttures

$ -796,353.65 $

0.00 $ -796,353.85 $ -21,879.71 $

-774,474.14

OTHEB F!NA!!!l:;IN!; !i,OUBQE (UEl

Other Sources Other Uaec

$ 768,294.41 $ -350,465.90

0.00 $ 768,294.41 $ 75,000.00 $

-350,465.90

-75,000.00

693,294.41 -275,465.90

Total other F',nancing Sources (Uoes)

$ 417,828.51 $

0.00 $ 417,828.51 $

0.00 $

417,828.51

'"" Exceu of Revenues and other Financing Sources (under) Expend~ureo and Other Financing Uses $ -378,525.34 $

0.00 $ -378,525.34 $ -21,879.71 $

-356,645.63

FUNQ l:!,!ILANQE ~VbY 1 1993

978,208.76

-10,084.91

968,143.85

976,199.67

~.055.82

A~USTME!:illl

Prior Year (Net)

0.00

0.00

-16,958.40

16,958.40

E991l ltlllE!!!IOBY HEI QHANGE IN PERIOQ

Donated Commodities Purchaeed Food

~7.61

887.61

0.00

0.00

560.81

-560.81

0.00

0.00

E!.!ND Ml ~N~F J!.!NE ~ 1994

$ 599,356.62 $

-9,738.11 $ 589,618.51 $ 937.361.56 $

-347,743.05

The notes to the general purpose financial statements are an integral part of this statement. -5-

LANIER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Lanier County Board of Education (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. With the exception ofthe departures from generally accepted accounting principles disclosed in the following paragraphs, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards.
The more significant 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 Lanier County Board of Education.
Based upon the application of the above criteria, the Lanier 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 Lanier County, Georgia. The Board is not included in any other governmental "reporting entity" as defined by GASB Codification of Governmental Accounting and Financial Reporting Standards.
Board members were elected by the public and have decision making authority, the power to designate management, the ability to significantly influence operations, and primaly 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.
- 6-

LANIER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements.
The general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows:
GOVERNMENTAL FUND TYPES - are used to account for all or most ofa 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 traditionally provided by a board ofeducation.
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.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for 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 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 ofavailable spendable resources.
- 7-

LANIER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS

JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 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 ofthe 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 1994, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1993 and ending in early June 1994. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1993 and ending in August 1994. State grants to fund the State's share of these contracts were disbursed from the Georgia Department ofEducation to the Board in the same twelve months. As ofJune 30, 1994, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1994, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1994. Also, the State's portion of the compensation paid in July and August 1994 was received and recorded as revenue in the fiscal year subsequent to June 30, 1994. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were recorded in the year ended June 30, 1994. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed.
BUDGET
The Lanier County Board ofEducation has a legally authorized nonappropriated budget which is formally approved by the Board at the aggregate level. Budgets are prepared to provide a basis for funding operations and there is no legal prohibition regarding overexpenditure of the aggregate budget. The budget process begins when the Board's administration prepares a tentative aggregated budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions ofthe Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation.
- 8-

LANIER COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Board prepares its budget on the modified accrual basis, which is the same basis on which it presents its financial statements. The budget comparison on Exhibit "C" presents actual and budget data for all governmental funds on a combined basis. To facilitate comparison with the budget, donated and purchased food inventories as reflected on Exhibit "B" have been eliminated from fund balance.

CASH AND CASH EQUIVALENTS

COMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits (including certificates of deposit and N.O.W. accounts) in authorized financial institutions. Georgia Laws authoriz.e the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement ofproceeds from bond issues in certificates of deposit is limited to financial institutions located within this State.

RECEIVABLES

Receivables consist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables.

PROPERTY TAXES

The Lanier County Board ofCommissioners fixed the property tax levy for the 1993 tax year (calendar year) on September 3, 1993 (levy date). Taxes were due on December 20, 1993. The lien date for property taxes was January 1, 1993. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1994 since their collection meets the criteria of GASB codification section P70.103. The Lanier County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection, and remits the balance of taxes collected to the Board.

The tax millage rate levied for the 1993 tax year (calendar year) for the Lanier County Board ofEducation was as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations

14 50 mills

- 9-

LANIER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 offund balance which indicates that these amounts do not constitute "available spendable resources" even though they are a component of net current assets.
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 ofthis data.
Note 2: DEPOSITS
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 of insurance, or by collateral in an amount of not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts.

- 10 -

LANIER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEl\,ffiNTS

JUNE 30 1994

Note 2: DEPOSITS
Acceptable security for deposits consists of any one of or any combination ofthe following:
(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations ofthe counties or municipalities ofthe State ofGeorgia,
(5) Bonds ofany public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use ofthe 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, 1994, the bank balances were $1,613,490.21. The amounts of the total bank balances are classified into three categories of credit risk:
Category l - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name.
Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name.
Category 3 - U ncollateralized 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.)

- 11 -

LANIER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 2: DEPOSITS

The Board's deposits are classified by risk category at June 30, 1994, as follows:
Risk Category
1 2 3
Total
Note 3: NON-MONETARY TRANSACTIONS

Bank Balance
$ 200,000.00 0.00
1 413 490.21
$ 1 613 490 21

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 has established a limited risk management program for Unemployment Compensation. Estimated claims are budgeted by management based on known claims and prior experience. No claims were paid during fiscal year 1994.

Note 5: OPERATING LEASES

The Lanier County Board ofEducation has entered into various leases as lessee for office equipment. These leases are considered for accounting purposes to be operating leases. Lease expenditures for the year ended June 30, 1994, amounted to $13,409.10. Future minimum lease payments for these leases are as follows:

Year Ending
1995 1996 1997 1998
Total

Amount
$ 44,364.60 41,274.00 41,274.00 30 955.50
$ lSZ 868 JO

- 12 -

LANIER COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 6: GENERAL LONG-TERM DEBT

CAPITAL LEASES The Lanier County Board ofEducation has entered into a lease agreement as lessee for an energy management system. This lease agreement qualifies as a capital lease for accounting purposes and, therefore, has been
recorded at the present value of the future minimum lease payments as of the date of its inception.

The changes in General Long-Term Debt during the fiscal year ended June 30, 1994, were as follows:

Capital Lease

Balance July 1, 1993

$ 59,983.92

Additions

417,828.51

Deletions

80 181.94

Balance June 30, 1994

$ 397 630 49

At June 30, 1994, payments due, by fiscal year which includes principal and interest for these items:

Fiscal Year Ended June 30

Capital Leases

1995 1996 1997 1998 1999 2000 and thereafter

$ 57,008.88 57,008.88 57,008.88 57,008.88 57,008.88
247 038.48

Total Principal and Interest

$ 532 082.88

Deduct: Imputed Interest

$ 134 452.39

Net Present Value ofFuture Minimum Lease Payments

$ 327 63Q 42

- 13 -

LANIER COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 7: SIGNIFICANT COMMITMENTS

At June 30, 1994, the Board had encumbrances in the amount of$1,121.00 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with the lottery programs. Lottery funds in the amount ofSl,088.00 are available to fund these encumbrances. Encumbrances outstanding do not constitute expenditures or liabilities in the current year because these commitments will be honored during the subsequent year. These encumbrances are identified by lottery program as follows:

Distant Learning G.P.T.C. Distant Learning

$ 232.00 889.00
$ I 12100

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.

Note 9: RETIREMENT PLANS

TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)

TRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS).

TRS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for service retirement after 30 years ofcreditable service, regardless of age, or after IO years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death.

Retirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement,

- 14 -

LANIER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30 1994

Note 9: RETIREMENT PLANS

whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death.

Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest.

The Board's payroll for employees covered by TRS for the year ended June 30, 1994, was $3,160,493.54, total payroll was $3,541,013.68.

TRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by TRS are required to contribute 6% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees as advised by their independent actuary. For fiscal year 1994 that rate for employer contributions was 11.81%. The interest rate assumption (rate of return on investments) was 7.50%.

Total contnbutions made during fiscal year 1994 amounted to $562,883.90 ofwhich $373,253.29 was made by the Board and $189,630.61 was made by employees. These contnbutions represented 11.81% (Board) and 6% (employees) of covered payroll.

TRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers.

Total unfunded pension benefit obligation ofTRS as of June 30, 1993, was as follows:

Total pension benefit obligation

$13,912,014,000.00

Net assets available for benefits, at cost

12 821 722 000.00

Unfunded pension benefit obligation

$ 1 090 292 000 00

- 15 -

LANIER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30 1994

Note 9: RETIREMENT PLANS
The measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1993. Net assets available to pay pension benefits were valued as ofthe same date. TRS does not make separate measurements ofassets and pension benefit obligation for individual employers.
Total contributions from all employers to TRS for fiscal year ended June 30, 1994 were $521,550,000.00. The Board's contribution for the year ended June 30, 1994 of$373,253.29 was actuarially determined and represented .0715% oftotal contributions made by all participating employers.
Ten year historical trend information is presented in the 1994 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due.
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 ofGeorgia (PSERS). All employer's contributions are made by the State ofGeorgia.
PSERS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 1Oyears ofservice and attainment of age 65. A member applying for service retirement with 1Oyears of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members ;ire equal to $8.00 per month multiplied by the number of years of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death.
Retirement provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years ofcreditable service. Death benefits are dependent upon the number ofyears of service. Ifthere are less than ten years of service, a lump sum refund 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 fuJly vested after ten years of service. Ifa member terminates with less than ten years of service, no vesting ofemployer contnbutions occurs, but the member's contnbutions are refunded with interest.
There were 36 employees covered under PSERS for the year ended June 30, 1994.

- 16 -

LANIER COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30 1994

Note 9: RETIREMENT PLANS
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 contnbution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contnbutions from employees ofthe Board made during fiscal year 1994 amounted to $1,204.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1994, was $9,150,000.00.
Note 10: SURETY BONDS
The School Superintendent, Mr. Raymond Moore, is bonded in the amount of$25,000.00 with the Western Surety Company, Sioux Falls, South Dakota, their Bond No. 68177952, on which premium was paid through July 14, 1994.

- 17 -

Ca&h and Ca&h Equ...-
Accounts Receivable
lrwentorie& Food Donated Commodities Purchaaed Food

LANIER COUNJY BOARD OE EDI )CATION rPMBINING BALANCE SHFcT
SPECIAL REVENUE FUND
JUNE:30 1994

ELEMENTARY

SCHOOL FOOD
SERVICES FUND

STATE PRESCHOOL HANDICAPPED
PROGRAM

LOTTERY PROGRAMS

DRUG-FREE SCHOOLS AND COMMUNITTES
ACT

CHAPTER1 EDUCATION OF
DEPRNED CHILDREN

$ 175,no.eo s

0.00

$

0.00

5,965.45

$ 102,707.00

$

122,347.83

6,537.58 3,200.53

TotalAaels

$ 191,424.36 $

0.00 $ 102,707.00 $

0.00 $

122,347.83

LIABILmEs AND FUND EQUITY
~
Ca&h OYerdrafl Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue
Total Liabillties
FUNPEQUJTY
Fund Balances Reserved For Continuation of Federal Program For Inventories Food
u-Donated Commodities Purchaaed Food
U~nated
Total Fund Equity

$ 7,627.78 27,576.32
$ 35,204.10

$ 25,286.73 76,564.27
856.00 $ 102,707.00

$

77,813.08

9,899.54

34,590.98

44.23

$ _ _1c.:22:,,cc.34'-'7.:.:.83~

6,537.58 3,200.53
$ 9,738.11 146,482.15 s _ _ _ _o._oo_s _ _ _o_.oo_s _ _ _ _o_.oo_s _ _ _ _o_.oo_
s 156,220.26 s _ _ _..c.occoo.c..s _ _---=o.:.:.oo~s _ _ _~o.:.:.oo~s------=o.:.:.oo~

Total Liabilities and Fund Equity

$ 191.424.36 s _ _ _..ao;;a.00;.;.$ 102,707.00$

o.oo s _ _-"122=,34=7;;;;83;;.

See notes to the general purpose financial statements.

-18-

EXHIBIT"E"

AND SECONDARY EDUCATION ACT TITLE II -
EISENHOWER CHAPTER2 MATHEMATICS MIGRANT BLOCK GRANT - AND SCIENCE PROGRAM FLOW THROUGH EDUCATION

INDIVIDUALS WITH

DISABILmES EDUCATION ACT

mLEVl,B

FLOW

PRESCHOOL

THROUGH

PROGRAM

$

887.29 $

1,102.94 $ 1,834.99$

5,497.46

HIGH RISK YOUTH
PROGRAM

TOTALS JUNE 30, 1994 JUNE 301 1993

$ 185,043.48 $ 128,176.41

958.31

1,000.00$

4,111.00 $

840.77

237,930.36

123,888.75

6,537.58 3,200.53

7,425.19 2,639.n

$ 1,845.60 $

1,102.94 $ 1,834.99 $

6,497.46 $

4,111.00$

840.77 $ 432,711.95 $ 262,130.07

$

540.68 $

1,304.92

1,102.94

$ 1,845.60$

1,102.94

$

3,980.99$

840.77 $ 107,921.57

$

1,087.27

96,822.48$

32,257.02

4,237.28

67,709.50

62,870.41

1,1n.01

130.01

1,347.15

3,537.04

856.00

$

6,497.46 $

4,111.00$

840.77 $ 274,656.70 $

98,684.47

$

0.00 S

$

0.00 $

s 1,834.99

$ 0.00 0.00 $

1,834.99 0.00 $
1,834.99 $

0.00 $ 0.00 $

0.00 $ 0.00 $

$

1,834.99

$ 0.00 0.00 $

6,537.58$ 3,200.53
11,573.10 $
146,482.15
158,055.25 $

7,425.19 2,639.n 10,064.91 153,400.69
163465.60

$ 1,845.60$

1,102.94 $ 1,834.99$

6,497.46$

4,111.00$

840.77 $ 432,711.95 $ 262,130.07

-19-

LANlfB CQ!.U~IY aQABQ QE EQUQAIIQN CQMalHIN~ ~EMfNI QE BE~Et:IUE EiefNQIIllBE AND ta:li!ili~E IN EUNQ BAI ANQE
PEQIAL BE~EN!.!E E!.!HQ YEAR fNPEP JUNE 30 1994

~
S-F..F-..1 Funds Loeal and Other Funds
Total Revenues
F;XPENQITURES
Current lnslnlc:tion Support Services Pupil Services Improvement d Instructional Services Educational Media Services General Administration Maintenance and Operation d Plant Student Transportation Services Cantral Support Services Other Support Services Food Services 0paration Capital Outlay
Tolal Expandilures
Excess d Revenues over (uncle!) Expenditures
QI!::lfB EINANQIN~ QUBQE~ {UEl
Operating Transfers In

SCHOOL FOOD
SERVICES FUND

ELEMENTARY

STATE PRESCHOOL HANDICAPPED
PROGRAM

LOTTERY PROGRAMS

DRUG-FREE SCHOOLS AND COMMUNITIES
ACT

CHAPTER 1 EDUCATION OF
DEPRIVED CHILDREN

$ 29,718.00 $ 347.769.85 108,086.10
485,573.95 $

9,580.00 $ 224,337.74 $
9,580.00 $ 224,337.74 $

14,940.00 $ 14,940.00 $

301,863.60 301,863.60

492,492.49
$ 492,492.49 $ $ -6,918.54 $

9,580.00 $ 96,630.45 $

12,483.40 2,471.82 32,932.00

75,582.12 937.72

160.00

3,600.00

9,580.00 $ 224,797.51 $

0.00 $

-459.n $

10,463.39 $ 1,548.62 1,525.31
13.23
1,389.45
14,940.00 $ 0.00 $

197,493.83 1,027.10
45,584.48
57,758.21
301,863.60 0.00

459.n

Excess d Revenues and Other Financing Sources

ovar (Wider) Expandilures and Other Financing Uses

-6,918.54 $

0.00 $

0.00 $

0.00 $

0.00

FUND BAlANQE JULY 1

163,"465.60

0.00

0.00

0.00

0.00

Food Inventory- Net Change in Pariod Donated Commodities Purchased Food

-687.61 560.81

E~INP Bal AHQf JUN!; 30

$ 156,220.26 $

0.00 $

0.00 $

0.00 $

0.00

See notes to the general purpose financial statements.

-20-

EXHIBIT"P

AND SECONDARY EDUCATION ACT TITLEII
EISENHOWER CHAPTER2 MATHEMATICS MIGRANT BLOCK GRANT AND SCIENCE PROGRAM FLOW THROUGH EDUCATION

INDIVIDUALS WITH

DISABILITIES EDUCATION ACT

TITLE VI, B

FLOW

PRESCHOOL

THROUGH

PROGRAM

HIGH RISK YOUTH
PROGRAM

TOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993

10,944.40 $ 10,944.40 $

11,512.00 $ 11,512.00 $

8,021.49 $

40,768.09 $

8,021.49 $

40,768.09 $

4,928.99 $ 4,928.99 $

$ 3,305.67
3,305.67 $

263,635.74 $ 744,054.09 108,086.10
1,115,775.93 $

38,052.00 816,263.72 101,040.66
955,356.38

10,944.40
10944.40 $ 0.00 $

$ 11,484.42
27.58
11,512.00 $ 0.00 $

$ 6,186.50

26,491.51 $
183.80 11,487.53
1,283.49 1,324.03

6,186.50 $ 1,834.99 $

40,770.36 $ -2.27 $

1,359.94 $ 557.05
3,012.00
4,928.99 $ 0.00 $

3,305.67 $
3,305.67 $ 0.00 $

356,269.19 $
14,m.87 22,698.26 44,416.42 49,920.76 75,582.12
2,261.75
59,307.66 492,492.48
3,600.00
1,121,321.52 $
-5,545.59 $

368,612.63
4,702.87 29,420.60 12,475.92 40,962.89
1,253.08 35,375.18
435,033.39
927,836.56
27,519.82

2.27

462.04

$

0.00 $

0.00

0.00 $ 0.00

1,834.99 $ 0.00

0.00 $ 0.00

0.00 $ 0.00

0.00 $ 0.00

-5,083.55 $ 163,465.60

27,519.82 136,389.55

-887.81 560.81

1,843.95 1,200.18

$

0.00 $

0.00 $

1,834.99 $

0.00 $

0.00 $

0.00 $

158,055.25 $

163,465.80

-21

~ Cash and Cash Equivalents Accounts Receivable
Total Assets

~Nl~R QQUlfiY ~RP QF l;P!JQATIQH
QQMlilH.m.'IG Ml atiQI; Sl:tEl;I i;AP!IAL el!QJE!::Il! EU~Cl JUHi; 30 1994

EXHIBIT"G"

REGULAR

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION
PROJECT 93/94-686-051

GOVERNOR'S EMERGENCY
FUND

TOTALS

JUNE30 1994

JUNE30 1893

0.00 $

81,458.87

81,458.87 $

59,183.29

2 000.00

2 000.00

328022.97

0.00 $

81458.87 $

2 000.00 $

83458.87 $

387206.26

LIA!!ILITl~S ANt;! FUNQ ~QUITY
~
Cash Ovelratl Contracts Payable Retainages Payable
Total Liabilities
fUNPEQUITY
Fund Balances ROMMld For Encumbrances - Gowmor's Emergency Funds For State Capital Outlay Projects

UnrOMMld Undesignated

Total Fund Equity

$

Total Liabilities and Fund Equity

$ 81,458.87

2,000.00 $

2,000.00 81,458.87 $

295,800.67 32 222.30

$

81458.87 $

2 000.00 $

83458.87 $

328022.97

0.00 $ 0.00 $

0.00 $ 0.00 $

0.00 $ 0.00 $

$ $ 0.00 0.00 $

20,000.00 39183.29 59,183.29
0.00 59183.29

0.00 $

81458.87 $

2,000.00 $

83458.87 $

387206.26

Seo notes to the general purpose financial statements.

-22

LANIER COlJNJY eoeo 9f EQUCATION
CQMHINING SJmMf;NT OF Bl=Yl=NYsS exeeNPffiJBf'.S ANP CHANGf=S IN FUND RAIANCfS
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30 1994

EXHIBIT"H"

~
S-Funds Local and other Funds
Tolal Revenues
EXPENDITURES
Capital_Outlay Professional and Tec:1,-1 Se<vicas Land and Land Improvements Building and Building Improvements Equipment
Tolal E,cpenditures
Excess of Revenues owr (under) E,cpenditures
QTHER FINANCIN!a 2!.!RCE (l.!SEl
Operating Transfers In Operating Transfers Out
Tolal other Financing Sources (Uses)
Excess cl Revenues and Olher F"mancing Sources """(under) E,cpendilures and other Financing Uses
FUND BALANCE JULY 1

REGULAR

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION
PROJECT ~1

GOVERNOR'S EMERGENCY
FUND(1l

TOTALS YEAR ENDED JUNE30 1994 JUNE30 1993

16,1-40.33 $ 161-40.33 $

1.~.866.03 $ 1~866.03 $

20,000.00 $ 1,071,006.36 $

65000.00

65000.00

85000.00 $ 1136006.36 $

348,022.97 348022.97

$ 57,780.50
57780.50 $ -416-40.17 $

16,370.01 $ 1,243,872.49
1 260.;142.50 $ -225 374.47 $

2,000.00 $
209,038.52 16133.98

18,370.01 $ 57,780.50 1,452,911.01 16133.98

227172.51 $ 1 545 185.51 $

-142172.51 $ -409187.15 $

80,078.57 322,222.96
-402 302.53 -54.;!78.56

41,6-40.17 $ 41 6-40.17 $
0.00 $ 0.00

186,191.18 $ 186181.18 $

122,172.51 $ 350,003.86 $ 122172.51 $ 350003.86 $

110,000.00 -35000.00
75000.00

-39,18329 $ 39183.29

-20,000.00 $ 20000.00

-58,18329 $ 5918329

20,720.44 38462.85

FUND BALANCE JUNE 30

0.00 $

0.00 $

0.00 $

0.00 $

5918329

(1) The purpose cl these funds is 110 c:onstruct an administrative office complex.

See no1as to the IIO"""'I purposefinanc:ial sta1amenls.

.23.

LA~IEB ~QUfilY BQABC QE ECU~AIIQ~ S~J::tECULE QE EECEBAL El~A~~IAL ASSISIA~~E
YEAR ENPEP JUNE 30 1994

SCHEDULE 1

FUNDING AGENCY PROGRAM/GRANT

CFDA NUMBER

AWARDS IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

Agriculture, U. S. Department of Through Coastal Plains Economic Opportunity Authority, Incorporated Child and Adult care Food Program 1993 Contract 1994 Contract Through Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1993 Grant 1994Grant National School Lunch Program 1993 Grant 1994Grant Food Distribution Program (1)

10.558 10.558 $

$ 14,631.20

10.553 10.553
10.555 10.555 10.550

74,214.90
222,611.55 36312.20

931.60

14,631.20 $

14,631.20

(2)

14,696.06 72,832.34
27,550.18 218,028.66 N/A

74,214.90

(2)

222,611.55 $ 36312.20

456,180.29 (3) 36312.20

Total u. s. Department of Agriculture

$ 347769.85 $

348670.04 $ 347769.85 $

492492.49

Education, U. S. Department of Direct P. L.81-874 1994Grant Through Berrien County Board of Education d/bla Southern Pine Migrant Education Agency Elementary and Secondary Education Act Chapter 1 Migratory Education Program 1993 Regular 1994 Regular Through Georgia Department of Education Drug-Frae Schools and Communities Act 1993 Grant 1994Grant Elementary and Secondary Education Act Chapter 1 Education of Deprived Children 1993 Regular
1993 c:arry.o-
1994 Regular Chapler2
Block Grant - Flow Through 1994 Regular
Tlllell
E - Mathematics and Science Education 1993 Regular 1993 carry-Over 1994 Regular
Individuals with Disabilities Education Act TllleVl,B Flow Through 1993Regular 1993 carry-ever 1994 Regular Preschool Program 1993 Regular 1993 carry-0ver 1994 Regular

84.041 $
84.011 84.011
84.186 84.186
84.010 84.010 84.010
84.151
84.164 84.164 84.164
84.027 84.027 84.027 84.173 84.173 84.173

1,872.00 $
11,000.00 14,940.00
29,106.00 313,735.00
11,512.00
7,000.00
19,733.00 23,146.00
4,834.00 723.00

1,872.00 $

1,872.00

(4)

-1.04 9,986.09
9,736.00 14,940.00

10,944.40 $

10,944.40

14,940.00

14,940.00

60,163.13 15,000.00 164,560.00
11,512.00

29,106.00 272,757.60
11,512.00

29,106.00 272,757.60
11,512.00

7,461.00 7,000.00

1,021.49 7,000.00

1,021.49 5,185.01

4,214.29 19,733.00 21,208.00
-3,381.06 723.00 225.00

19,733.00 21,035.09
4,834.00 94.99

19,733.00 21,037.36 (3)
4,834.00 94.99

- 24 -

LANIER COUNJY ROARP QF EDUCATION
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE YEAR ENDED JUNE 30 1994

SCHEDULE "1"

FUNDING AGENCY PROGRAM/GRANT

CFDA NUMBER

AWARDS IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

Education, U.S. Depa- of Through Georgia Depa- of Education Vocational Education Ba&lc Grants to States High School Program Ba&lc Grant
1993Grant
1994Grant Through Lowndes County Board of Health
Drug Fn,e Schools nd Communllie& Aet High Risk Youth Program
1994 Regular

84.048 84.048 $
84.186

$ 16,219.00
3489.30

3,507.31

$

16,219.00

(4)

2464.90

3305.67 $

3305.67

Total U.S. Depa- of Education

$ 457309.30 $

350925.62 $ 414375.24 $

394451.52

Total Federal F - I Assistance

$ 805079.15 $

699595.66 $ 762145.09 $

The major program is 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) Expendituras for this Program were net maintained separately and are included in the 1994
National School Lunch Program.
(3) Expenditures for this program include State, and/or Local and Other Funds. ~ r e s are net mainlained by fund source.
(4) Expenditures on this program were net maintained by fund source.

886944.01

See notes to the general purpose financial statements.

25.

LANIER COUNTY BOARD OF EDUCATION ANALYSIS OF CASH AND CASH EQUIVALENTS
JUNE 30 1994

SCHEDULE "2"

NONINTEREST BEARING ACCOUNTS
Farmers and Merchants Bank, Lakeland, Georgia

$

3,462.85

INTEREST BEARING ACCOUNTS
Farmers and Merchants Bank, Lakeland, Georgia
Certificates of Deposit No. 15449 (6.80%) No. 15562 (6.80%) No. 15761 (3.30%)
N.O.W. Accounts (3.50%)

$ 603,250.00 31,750.00
100,000.00 526,191.92

1,261,191.92

$ 1,264,654.77

See notes to the general purpose financial statements. - 26 -

LANIER COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30 1994

SCHEDULE "3"

Berrien County Board of Education d/b/a Southern Pine Migrant Education Agency ESEA - Chapter 1 Migratory Education Program
Community Affairs, Georgia Department of Local Assistance Grant
Education, Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education Federal Funds Lottery Programs Computers in Classrooms Distant Leaming Media Center and Library Equipment Safe Schools Grant Federal Programs ESEA - Chapter 1 Education of Deprived Children IDEA- Title Vl,B Flow Through Preschool Program Contract Student Information Systems Project
Lanier County Tax Commissioner County Wide School Tax
Lowndes County Board of Education Gasoline Purchase
Lowndes County Board of Health High Risk Youth Program
Various Sources Credit Memos Interest Earned

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL REVENUE PROJECTS

FUND

FUND

FUND

TOTAL

$

958.31

$

958.31

$ 2,000.00

2,000.00

$ 16,219.00

1,382.56 4,582.89
43,884.00 2,768.00
35,000.00 21,055.00

1,000.00

122,347.83
1,000.00 4,111.00

1,903.88

26.17

840.77

467.15 20,656.00

1,382.56 4,582.89 16,219.00 43,884.00 2,768.00 35,000.00 21,055.00
122,347.83 1,000.00 4,111.00 1,000.00
1,903.88
26.17
840.77
467.15 20,656.00

$ 40,272.20 $ 237,930.36 $ 2,000.00 $ 280,202.56
See notes to the general purpose financial statements. - 27 -

LANIER COUNTY BOARD Of EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 3Q 1994

SCHEDULE 4

AGENCY/FUNDING
GRANT Community Affairs, Georgia Department of Local Assistance Grant
Education, Georgia Department of Quality Basic Education General and CarNr Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Sparsity Grant Middle School lncen!Ne Special Instructional A-nee In-School Suspension Mid-term Adjustment Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education other State Programs Innovative Programs Preschool Handicapped Program Supervision and Assessment of Student and Beginning Teachers and PerfonnanceBased Certification Teachers' Retirement Lottery Programs Algebra Classrooms Computers in Classrooms Di&tant Leaming Media Center and Lllnry Equipment Pre-Kindergarten Program Safe Schools Grant
Financing and Investment Commission, Georgia State Reimbursement on Construction Projects
Georgia Public Telecommunication Commission Lottery Program Di&tant Leaming
CONTRACTS Education, Georgia Department of Implementation of student Information Systems Project
Transportation, Georgia Department of Through City of Lakeland Paving Contract

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

TOTAL

$

20,000.00 $

20,000.00

$ 2,078,759.00 1B8,711.00 82,350.00 89,125.00 29,218.00 626,293.00
130,980.00 37,071.00 81,331.00 84,186.00
150,712.00 62,649.00 70,609.00
-249,522.00 365,731.00
$ 180,124.00
4,800.00

29,718.00 9,580.00

750.00 6,651.22

2,316.00 53,000.00
2,768.00 35,000.00 101,584.74 21,055.00

2,078,759.00 1B8,711.00 82,350.00 89,125.00 29,218.00 626,293.00
130,980.00 37,071.00 81,331.00 84,186.00 150,712.00 62,649.00 70,609.00 -249,522.00 365,731.00 29,718.00 180,124.00
4,800.00 9,580.00
750.00 6,651.22
2,316.00 53,000.00
2,768.00 35,000.00 101,584.74 21,055.00

1,034,868.03 1,034,868.03

8,614.00

8,614.00

1,000.00

1,000.00

16140.33

16140.33

Sae notes to the general purpose financial statements.

$ 4 001 528.22 $ 263635.74 $ 1 071 008.36 $ 5336172.32 - 28 -

LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE
YEAR ENDED JUNE 30 1994

SCHEDULE 5

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL REVENUE PROJECTS

FUND

FUND

FUND

TOTAL

Taxes County Wide School Tax Railroad Car Tax Real Estate Transfer Tax

$ 808,516.07 35.35
1,963.74

$ 808,516.07 35.35
1,963.74

Other Canning Plant Operations Compensation for Loss of Assets Donations Indirect Cost Special Revenue Furid Interest Earned Legal Settlement Slate of Georgia vs. Dairymen, Inc., el al. Revenue in Lieu of Taxes Timber Proceeds Furids Royalties Lease of School Radio Frequencies Sales Meals School Assets Other

2,946.00 9,421.60 $
300.00

700.00

4,196.00 68,941.35

5,833.09

409.78

3,525.48

10,000.00

1,082.69

101,068.23 $
75.00

65,000.00

2,946.00 10,121.60
300.00
4,196.00 74,774.44
409.78
3,525.48
10,000.00
101,068.23 65,000.00 1,157.69

$ 910,928.28 $ 108,086.10 $ 65,000.00 $ 1,084,014.38

See notes to the general purpose financial statements. - 29 -

bt,NIER COU!'.ITJ'. BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT
GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30 1994

SCHEDULE "6"

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 Insurance Communications Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Interest Expense Federal Indirect Costs Other Expenditures
Nonoperating Costs Principal and Interest Land and Land Improvements Equipment
Total Expenditures

GENERAL FUND

SPECIAL REVENUE
FUND

TOTAL

$ 3,069,332.33 $ 855,731.30 17,486.71 10,415.76 3,150.00 9,548.46 44,784.49 2,951.21 17,565.50 25,275.22
10,346.70 4,432.30
203,464.63 167,704.62
62,558.44 10,011.93 36,855.16
4,858.81

471,681.35 $ 129,731.44
7,110.81 5,532.05
360.00 69,849.00
7,047.59 2,545.07
1,220.00 76,671.24
2,587.43 230,307.00
346.18 5,221.45
4,196.00 3,020.62

3,541,013.68 985,462.74 24,597.52 15,947.81 3,150.00 9,908.46 114,633.49 2,951.21 17,565.50 32,322.81 2,545.07 10,346.70 5,652.30 280,135.87 170,292.05 230,307.00 62,904.62 15,233.38 36,855.16 4,196.00 7,879.43

38,005.92 717,689.12

3,600.00 100,294.29

38,005.92 3,600.00
817,983.41

$ 5,312,168.61 $ 1,121,321.52 $ 6,433,490.13

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

LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT
LOTTERY PROGRAMS YEAR ENDED JUNE 30 1994

EXPENDITURES
Operating Costs Salaries Employee Benefits Travel of Employees Repair and Maintenance Services Other Purchased Services Supplies Energy Dues and Fees Other Expenditures
Nonoperating Costs Land and Land Improvements Equipment
Total Expenditures

ALGEBRA CLASSROOMS

COMPUTERS IN
CLASSROOMS

DISTANT LEARNING

$

40,912.85 $

1,050.00

$

2,413.65

1,718.00

12,285.00

$

2,413.65 $

53,197.85 $

2,768.00

See notes to the general purpose financial statements. - 32 -

SCHEDULE "7"

MEDIA CENTER

AND

LIBRARY PRE-KINDERGARTEN

EQUIPMENT

PROGRAM

SAFE SCHOOLS
GRANT

G.P.T.C. DISTANT LEARNING

TOTAL

$

$

13,539.69

21,550.00

$

35,089.69 $

42,709.87 14,552.10 2,280.91
315.00 17,407.30
279.53 390.00 541.03
3,600.00 19,509.00 $

$ 21,129.58

$
265.00 8,349.00

42,709.87 14,552.10 2,280.91 55,767.54
315.00 29,887.95
279.53 390.00 541.03
3,600.00 74,473.58

101 584.74 $

21,129.58 $

8 614.00 $ 224,797.51

- 33 -

LANIER COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30 1994

SCHEDULE "8"

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 for Staff Development Programs in Excess of Total Staff Development Allotment for: Cost of Instruction
Expenditures per Audit
Amount of Underexpenditure for Total Allotment

THIRTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

STAFF DEVELOPMENT
PROGRAM

$ 2,502,357.00 $

29,218.00

$ 2,477,110.26 198,493.40 $
$ 2,675,603.66 $

32,103.75 32,103.75

-14,152.39

$ 2,661,451.27 $

-2,885.75 29,218.00

$

0.00 $

0.00

See notes to the general purpose financial statements. - 35 -

l..ANlEB CD.JNTV BOARD Of EQLJPADQN ANALVSIS OF MINN M FXPsNQITURe BEOUIBEMfNTS - BY PBOGBAM
91=NRAL FUNP - QUAYIY BASIC SQUQAJIQN PR99BAM$ VEAR ENOEP JUNf; 30 1994

~~N!;B&, AN~ CARl;~R I ; ~ ~ ffiOGRAMS IOndorgarten (j Grades 1 3 (j Sub-Tolal K-3 Grades 4 5 (j Grades 6 8 (j Grades 9 -12 (j High School Laboratories (j Vocational Education Laboratories (j Tolal General and Career Education Programs
Sel:~1& e ~ ffiQG~
Regular Programs Category II (j Category Ill (j Itinerant Supplemental Speech SulrTotal-RegW8r CategoryV(Gffted)(j Total Special Education Programs
BEMeQW e~IIQtf PBQgB.!M 0
MEQIA CENTER PROGRAMS
Total Thirteen Weighted and Media Center
~TAFF lllal1!;LOPMENT PRQ!l;~ (1)
c..t d Instruction
Prolossianal Dawlopment
Talal staff DeYelopment
(") ktentif Thirteen Weighted Programs. , _ , (1) $2,144.00 d the allotment for Prolossianal
Dawlopment ha been lnmaferrod lo c..t d
Instruction as authorized by' 0CGA 20-2-182. See notes to the general purpoae financial statements.

ALLOTMENTS FROM DEPARTMENT OF EDUCATION

REQUIRED

TOTAL

ORIGINAL _..!,_

ORIGINAL

MID-TERM

REQUIRED

199,385.00 559,724.00 759,109.00 90 280,182.00 90 471,781.00 90 258,936.00 90 131,722.00 90 177,029.00 90 2,078,759.00

179,446.50 503,751.60 683,198.10 $ 252,163.80 424,602.90 233,042,40 118,549.80 159,326.10 1,870,883.10

0.00 $
0.00 $
27,000.00
14,000.00 20,690.00 61,690.00

179,446.50 503,751.60 683,198.10 252,163.60 451,602.90 233,042.40 132,549.80 180,016.10 1,932,573.10

180,652.00

162,586.80 $

0.00 $

162,586.80

180,652.00 90 8,059.00 90
186,711.00 82,350.00 90 89,125.00 90

162,586.80 7,253.10
169,839.90 74,115.00 80,212.50

0.00 1,161.00 1,161.00 $
0.00 561.00 $

162,586.80 8,414.10
171,000.90 74,115.00
ao,m.so

2,438,945.00

2,195,050.50 $

63,412.00 $ 2,258,462.50

8,722.00 100 20,496.00 100

8,722.00 20,496.00

0.00 $

8,722.00 20,496.00

29,218.00

29,218.00 $

0.00 $

29,218.00

2,468,163.00

2,224,268.50 $

63,412.00 $ 2,287,680.50

36.

SCHEOULEV

REQUIRED ALLOTMENT

SALARIES ACTUAL

DISTRIBUTION BY RESPECTIVE PORTIONS

-=>UNTOF UNOEREXPENDITURE
FOR REQUIRED ALLOTMENT

REQUIRED ALLOTMENT

OPERATIONS ACTUAi.

-=>UNTOF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

114,n1.so

11s,m.os

.ns.oo

6,579.33

487,647.90

573,859.08

16,103.70

20,338.73

662,369.40

752,631.14 $-

0.00

20,828.70

26,918.06

0.00

244,261.80

294,810.23

0.00

7,902.00

14,017.08

0.00

431,718.50

477,258.04

0.00

19,884.40

27,766.14

0.00

222,543.00

253,766.95

0.00

10,489.40

34,314.56

0.00

123,229.90

126,391.54

0.00

9,319.90

11,420.68

0.00

158,206.70

191,273.09

0.00

21,809.40

56,947.21

0.00

1,842,329.30

2,096,130.99

0.00

90,243.80

171,383.73

0.00

66,058.30 90,215.10
1,125.90 2,251.80

93,079.88 112,125.04

1,423.80 2,511.90

4,374.30 286.74

158,661.10

205,204.112

0.00

3,935.70

4,661.04

0.00

8,208.90

9,752.78

0.00

205.20

1,076.58

0.00

166,860.00

214,957.70

4,140.90

5,737.62

n.800.10

81,829.37

0.00

1,314.90

1,925.66

0.00

62,224.50

84,392.20

0.00

18,549.00

19,446.19

0.00

2,144,213.90 $ 2,477,110.211 $

0.00

114,248.60 $

198,493.40 $

0.00

2,144,213.90 $ 2,11.110.211 $ _ _ _ _....o_.oo_

s,m.oo

11,607.75

0.00

0.00

29,218.00 $

32,103.75 $ _ _ _ _....o_.oo_

143,466.60 $

230,597.is $ _ _ _ _....o_.oo_

- 37 -

LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION OF BOARD MEMBERS
YEAR ENDED JUNE 30 1994

SCHEDULE "10"

BOARD MEMBER ADDRESS
Mr. William L. Lee, Chairman {") Route 1 Box 3A Lakeland, Georgia 31635
Mr. Jimmy V. Benefield {") 125 Miller Street Lakeland, Georgia 31635
r> Mrs. Johnnie M. Moulton
1062 Bostick Street Lakeland, Georgia 31635
Mrs. Helen L. Strickland {") Route 1, Box 146 Lakeland, Georgia 31635
Mr. Larry Williams {") Route 2, Box 1049 Lakeland, Georgia 31635
{") Denotes Board Members Serving as of June 30, 1994

$

650.00

600.00

650.00

600.00

650.00 s _ _ _3..,,1_5_0_.o_o

See notes to the general purpose financial statements. - 38 -

SECTION II COMPLIANCE

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 16, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Lanier 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 of the Lanier County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated May 16, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standardt 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.
Compliance with laws, regulations, contracts, and grants applicable to Lanier County Board of Education is the responsibility of the Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective of our audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion.
The results ofour tests indicate that, with respect to the items tested, the Lanier County Board of Education complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Board had not complied, in all material respects, with those provisions.

94CRL-10

This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
2-~
Claude L. Vickers State Auditor
CLV:djf 94CRL-10

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 16, 1995

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

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

Ladies and Gentlemen:

We have audited the general purpose financial statements ofthe Lanier County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated May 16, 1995. This report was qualified 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 Board's compliance with the following requirements applicable to each ofits Federal financial assistance programs, which are listed in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1994:

(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 ofwhich 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.

94CRL-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 Lanier County Board of Education 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.
ZA
Claude L. Vickers State Auditor
CLV:djf 94CRL-40

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 16, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Lanier 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 of the Lanier County Board ofEducation a~ of and for the year ended June 30, 1994, and have issued our report thereon dated May 16, 1995. This report was qualified 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 Lanier County Board of Education'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 program, which is identified in the Schedule of Federal Financial Assistance, for the year ended June 30, 1994. The management ofthe Lanier 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.

94CRL-80

We conducted our audit ofcompliance 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.
In our opinion, the Lanier County Board ofEducation complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance program for the year ended June 30, 1994.
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.
~~
Claude L. Vickers State Auditor
CLV:djf 94CRL-80

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 16, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation
and Superintendent and Members of the Lanier 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 of the Lanier County Board ofEducation as ofand for the year ended June 30, 1994, and have issued our report thereon dated May 16, 1995. This report was qualified 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 1994 general purpose financial statements of the Lanier County Board ofEducation 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, 1994. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements governing:

(1) Types of Services Allowed or Unallowed

(2) Eligibility

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

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Lanier County Board ofEducation had not complied, in all material respects, with those requirements.

94CRL-120

This report is intended for the infonnation 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.
7~
Claude L. Vickers State Auditor
CLV:djf 94CRL-120

SECTION III INTERNAL CONTROL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 16, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation
and Superintendent and Members of the Lanier 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 Lanier County Board ofEducation as ofand for the year ended June 30, 1994, and have issued our report thereon dated May 16, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
We conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standards, issued by the Comptroller General ofthe 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.
In planning and performing our audit ofthe general purpose financial statements of the Lanier County Board of Education for the year ended June 30, 1994, we considered the internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide assurance on the internal control structure.
The management ofthe Lanier 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 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 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
94ICL-3

be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness ofthe design and operation of policies and procedures may deteriorate.

For the purposes of this report, we have classified the significant internal control structure policies and procedures in the following categories:

(1) Cash and Cash Equivalents

(6) Employee Compensation

(2) Inventories

(7) General Ledger

(3) Revenue/Receivables/Receipts

(8) General Fixed Assets

(4) Procurement

(5) Expenditures/Liabilities/ Disbursements

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

We noted certain matters involving the internal control structure and its operation that we consider to be reportable conditions 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 of the internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements.

As described in the Schedule ofFindings and Improper or Questioned Costs, reportable conditions were noted in the following control categories:

(1) Accounting Controls (Overall)

(2) General Fixed Assets

A material weakness is a reportable condition in which the design or operation of one or more of the specific 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 all of the reportable conditions disclosed above are also considered to be material weaknesses.

94ICL-3

These conditions were considered in determining the nature, timing, and extent of the procedures to be perfonned in our audit ofthe Lanier County Board ofEducation financial statements and this report does not affect our report thereon dated May 16, 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.
71~~
Claude L. Vickers State Auditor
CLV:djf 94ICL-3

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 16, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Lanier 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 of the Lanier County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated May 16, 1995. This report was qualified 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 Lanier County Board of Education's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated May 16, 1995.
We conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and the provisions of Office of Management and Budget (0MB) Circular A-128, "Audits ofState 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 Lanier County Board ofEducation complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program.
In planning and performing our audit for the year ended June 30, 1994, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the Board's general purpose financial statements and on its compliance with requirements applicable to major Federal financial assistance programs and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated May 16, 1995.
94ICL-11

The management ofthe Lanier 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 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, that transactions are executed in accordance with management's authorization and recorded properly to pennit 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 of any evaluation of the structure to future periods is subject to the 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.

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

GENERAL REQUIREMENTS

SPECIFIC REQUIREMENTS

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

(1) Types of Services Allowed or Unallowed
(2) Eligibility
(3) Matching, Level 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.

During the year ended June 30, 1994, the Lanier County Board ofEducation expended 69"/o ofits total Federal financial assistance under a major Federal financial assistance program and the following nonmajor Federal financial assistance program:

Food and Nutrition Program Food Service National School Lunch Program

94ICL-11

We performed tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements, and specific requirements, as described above that are applicable to each ofthe Board's major Federal financial assistance program, which is identified in the Schedule ofFederal Financial Assistance, and the aforementioned nonmajor program. 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, a reportable condition was noted in the following control category:
Administrative Requirements
A material weakness is a reportable condition in which the design or operation of one or more 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 that the reportable condition described 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 ofthe Lanier County Board ofEducation's compliance with requirements applicable to its major Federal financial assistance programs for the year ended June 30, 1994, and this report does not affect our report thereon dated May 16, 1995.
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.
'2':
Claude L. Vickers State Auditor
CLV:djf 94ICL-11

SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS

LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30 1994
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Loan in Excess of Statutory Limit Financial Statements Finding Resolved Audit Control Number 6861-93-02
The audit report for the year ended June 30, 1993, stated that the Board had an unpaid loan outstanding which exceeded 75 percent ofthe total gross income from taxes collected in the last preceding year. This excessive loan violated Article IX, Section V, Paragraph V ofthe Constitution ofthe State of Georgia. For the year ended June 30, 1994, the Board did not borrow funds in excess ofthe 75 percent statutory limit.
AUDIT FOLLOW-UP/RESOLUTION Uncollateralized Deposits Financial Statements Finding Resolved Audit Control Number 6861-93-04
The audit report for the year ended June 30, 1993, stated that the Board failed to have its bank balances fully collateralized as provided for by the Official Code of Georgia Annotated (OCGA) Section 45-8-12. For the year under review, the Board-passed a resolution exempting the financial institutions holding operating accounts from collateral requirements in accordance with provisions available to the Board in OCGA Section 45-8-11. All other accounts were fully collateralized.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $426.80 Audit Control Number 6861-93-05
The audit report for the year ended June 30, 1993, stated that the Lanier County Board of Education had an underexpenditure of Quality Basic Education (QBE) funds of$426.80 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 of Education to refund the underexpenditure as required. These funds should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for QBE programs in a subsequent fiscal year.

LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30 1994
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Finding Resolved Audit Control Number 6861-23-06
The audit report for the year ended June 30, 1993 stated that the Board failed to submit a copy of the 1992 audit report to various entities that were the sources ofFederal Financial Assistance. In the year under review, the 1992 and 1993 audit reports were sent to the appropriate grantor agencies in accordance with audit distribution requirements.
PRIOR YEAR/CURRENT YEAR
ACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation ofDuties Reportable Condition - Material Weakness Audit Control Number 6861-93-01
The audit report for the year ended June 30, 1993, disclosed that the Board did not provide for adequate separation of employee duties in the performance ofaccounting functions and related procedures for all funds. For the year under review, our audit noted no improvement regarding adequate separation of employee duties. This deficiency was a result ofmanagement not assigning employee duties in a manner to adequately safeguard assets and/or promote efficiency and accuracy in key accounting functions. The management of the Board should formulate and implement changes in personnel to achieve an adequate system of internal control of key accounting functions.
Note: All Federal financial assistance programs listed in the Schedule ofFederal Financial Assistance, Schedule "1 " ofthis report are affected by this finding.

LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30 1994
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6861-93-03
The audit report for the year ended June 30, 1993, noted that the Board chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include but may not be limited to date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group.
Note: The Lanier County Board ofEducation was provided an opportunity to include pertinent comments from the Board's management concerning these audit findings, conclusions and recommendations. The Board has elected not to provide comments for inclusion in this report.