Audit report, Long County Board of Education, Ludowici, Georgia, year ended June 30, 1995

GA
Aioo
-RI Ea<a L?5
/q94-95
STATE OF GEORGIA DEPARTMENT OF AUDITS
254 WASHINGTON STREET ATLANTA. GEORGIA 30334

AUDIT REPORT LONG COUNTY BOARD OF EDUCATION
LUDOWICI, GEORGIA YEAR ENDED JUNE 30, 1995

LONG COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

SECTION I

FINANCIAL

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

EXHIBITS

GENERAL PURPOSE FINANCIAL STATEMENTS

COMBINED STATEMENTS - OVERVIEW

A

COMBINED BALANCE SHEET

ALLFUNDTYPESANDACCOUNTGROUP

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

4

C

STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

(NON-GAAP BASIS)

GENERAL AND SPECIAL REVENUE FUNDS

5

D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

7

ADDITIONAL FINANCIAL INFORMATION

COMBINING STATEMENTS

SPECIAL REVENUE FUND

E

COMBINING BALANCE SHEET

20

F

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

22

CAPITAL PROJECTS FUND

G

COMBINING BALANCE SHEET

24

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

25

SCHEDULES

1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

26

2 CASH AND CASH EQUIVALENTS

28

3 INVESTMENTS

29

4 ACCOUNTS RECENABLE

30

5 DEBT SERVICE REQUIREMENTS TO MATURITY

31

SCHEDULE OF REVENUE

6

STATE

32

7

LOCAL AND OTHER

33

LONG COUNTY BOARD OF EDUCATION -TABLE OF CONTENTS-

Page

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

SCHEDULE OF EXPENDITURES BY OBJECT

8

GENERAL AND SPECIAL REVENUE FUNDS

34

9

LOTTERY PROGRAMS

35

ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

10

OVERALL

37

11

BY PROGRAM

38

12 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS

40

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

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

LONG COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -
SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS PERTINENT VIEWS OF RESPONSIBLE OFFICIALS

SECTION I FINANCIAL

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 25, 1996

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

95ARL-13*

As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows:
* The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles.
* School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements.
* The Board did not recognize as expenditures, in the year ended June 30, 1995, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1995. Also funds received, subsequent to June 30, 1995, from the Georgia Department ofEducation for the State's share of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1994, were improperly recorded in the year ended June 30, 1995. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed.
The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material.
In our opinion, except for the effects ofsuch adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Long County Board of Education as of June 30, 1995, and the results ofits operations for the year then ended, in conformity with generally accepted accounting principles. In accordance with Government Auditing Standards, we have also issued a report dated June 25, 1996, on our consideration ofthe Board's internal control structure and a report dated June 25, 1996, on its compliance with laws and regulations.
Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements ofthe Long County Board ofEducation taken as a whole. The combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 12 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 Long County Board of Education. Such information has been subjected to the auditing procedures applied in the audit ofthe general purpose financial statements and, in our opinion, except for the effect of adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects of the matters referred to in the fourth paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole.
95ARL-13*

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

LONG COUNTY BOARD OF EDUCATION - 1-

LONG COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 1995

ASSETS Cash and Cash Equivalents Investments Accounts Receivable Inventories
Food
Donated Commodities Purchased Food
Amount Available in Debt Service Fund Amount to be Provided in Future Years
For Payment of Bond Debt
Total Assets

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

$

15,199.68 $ 223,282.33 $ 711,514.33

728,427.65

2,569,447.89

70,755.50

46,263.10

1,176,293.11

12,1s1.n 4,257.11

$ 814,382.83 $ 285,994.26 $ 4,457,255.33

LIABILITIES AND FUND EQUITY
LIABILITIES
Accounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable General Obligation Bonds Payable
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Debt Service For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For Purposes of Bond Issue For State Capital Outlay Projects
Unreserved Undesignated
Total Fund Equity
Total Liabilities and Fund Equity

$

8,162.10

50,049.84

20,272.35

$ 915,986.07

350,878.19

$

781484.29 $ 112661864.26

$

1,954.76

$

12,1s1.n

4,257.11

$ 1,863,223.04

112321168.03

$

1,954.76 $

16,448.83 $ 3,095,391.07

8121428.07

1911061.14

951000.00

$ 8141382.83 $ 2071509.97 $ 311901391.07

$ 814,382.83 $ 285,994.26 $ 4,457,255.33

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

EXHIBITA

DEBT SERVICE
FUND

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS
(Memorandum Onlil JUNE 3011995 JUNE 3011994

$

63,092.93

$ 1,013,089.27 $ 359,123.85

3,297,875.54

3,319,133.90

7,536.44

1,300,848.15

141,668.n

12,191.72 4,257.11

5,723.23 3,073.47

$

70,629.37

70,629.37

61,248.12

213891370.63

213891370.63

2.433,751.aa

$

70,629.37 $

2,460,000.00 $ 81088,261.79 $ 61323,723.22

$

8,162.10 $

40,983.65

50,049.84

41,131.23

20,272.35

1,503.05

915,986.07

350,878.19

$

214601000.00

214601000.00

214951000.00

$

214601000.00 $ 318051348.55 $ 21578,617.93

$

70,629.37

$

70,629.37

0.00

$

701629.37

$

70,629.37 $

61,248.12

1,954.76

1,954.76

12,191.72 4,257.11
1,863,223.04
112321168.03

5,723.23 3,073.47 1,863,223.04 4611548.00

$ 3,184,424.03 $ 2,396,no.62

1,0981489.21

1,3481334.67

$ 4.2821913.24 $ 3.7451105.29

$

701629.37 $

2,460,000.00 $ 8,088,261.79 $ 61323,723.22

-3-

LONG COUNTY lilQABP Qf EDUCATION
QQMINl;;P filATEMEtil Qf B~~~S, EXPENDITURl;S M:iP QHANGES IN El,!ND BALANQES &,I. ~Q)lERNM!;;tfi&. El.!f!IP D'.eE
YEAR ENPEP JUNE 30, 1995

EXHIBIT "B"

GENERAL FUND

SPECIAL REVENUE
FUND

CAPITAL PROJECTS
FUND

DEBT SERVICE
FUND

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

B~NUES
Slate Funds Federal Funds Local and Other Funds
TocaJ Revenues

s 3,804,345.04 S 126,619.86 S 3,855,648.19

s

71279.67 622,750.63

1i13,915.11

88,359.38

124,196.41 S 167,878.75

7,786,613.09 S 694,030.50
1,594,349.65

3,326,343.00 696,668.67
1~,970.23

s 5,089,539.82 S 837,730.07 S 3,979,844.60 S 167,878.75 S 10,074,993.24 S 5J56,981.90

EXPENDJIUBES

Current
Instruction Support Services
Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transpo,talion Services Central Support Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services Capital Outlay Debt Service Principal Interest Paying Agent Fees
Total Expenditures

s 2,802,935.39 S 310,643.49

s

147,734.32 113,601.98 117,734.83
98,803.13 282,475.07
91,815.79 273,635.55 354,198.14
8,n8.18 9,994.22

900.00 4,815.49 39,730.79 21,845.76
s
2,070.45 1287.63 5,606.55 2,521.48 391,781.64

376291.71

21,679.58 103,881.69

3,801,576.86

s 35,000.00
122,m.so
720.00

s s 4,427J67.87 S 781~.48 S 4,1n.868.57 158,497.50 S

3,113,578.88 S 2,751,308.28

148,834.32 118,417.47 157,465.82 120,648.89 282,475.07 468,107.50 275,706.00 355,485.97 14,384.73 12,515.70 391,781.64

128,310.82 109,490.39 119,879.43 108,589.48 274,790.26 110.sn.14 285,103.00 394,735.76
5,500.00 6,862.83 367,762.52

21,679.58 3,905,458.55

17,880.29 158,643.96

35,000.00 122.m.so
720.00

30,694.38 20.02

9,544,837.42 S 4,930,428.56

Excess of Revenues over (under) Expenditures

s 662i71.95 S 56,526.59 S -198,023.97 S 9,381.25 S 530,155.82 S 326,553.34

OT!::11.;R flNANCINg SOURQl,;S !!.!SES}

Proceeds from General Obligation Bonds Par Value
Accrued Interest on Bonds Sold Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
FUND BALANCE JUbY 1

s s -968,645.00 s -968,645.00 S

1.00 S 968,644.00
1.00 S 968,644.00

s 2,495,000.00

s 968,645.00

10.231.46 81,008.38

-968,645.00

-81,008.38

s

0.00 S 2,505~1.48

s s -306,373.05 S 56,527.59 S no,620.03

9,381.25 S

530,155.82 S 2,831,784.80

1,120,755.88 143,330.25 2,419,n1.04

61248.12

3,745,105.29

920,930.55

Food Inventory - Net Change in Period Donated Commodities Purchased Food

6,468.49 1,183.64

6,468.49 1,183.64

-8,564.33 954.27

FU~Q BALANQI; i,!UN!;; 30

s 814.382.83 S 2071509.97 S 311901391,07 $ 70.629.37 S 4as2.913.24 S 3?451105.29

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

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

EXHIBITc

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

GENERAL FUND

ACTUAL

(BUDGET

BUDGET

BASIS}

$ 3,452,470.00 $ 3,804,345.04

76,867.00

71,279.67

1,321,307.00 1,213,915.11

$ 4,850,644.00 $ 5,089,539.82

$ 3, 136,501.00 $ 2,802,935.39

159,234.00 113,274.00 159,333.69 101,736.00 297,703.00 104,129.00 356,345.00 358,328.00
10,222.00

147,734.32 113,601.98 117,734.83 98,803.13 282,475.07 91,815.79 273,635.55 354,198.14
8,778.18 9,994.22

22,783.00 105,000.00

21,679.58 103,881.69

$ 4,924,588.69 $ 4,427,267.87

$ -73,944.69 $ 662,271.95

$

1,880.00

-969,875.00 $ -968,645.00

$ -967,995.00 $ -968,645.00

$ -1,041,939.69 $ -306,373.05 1,081,702.65 1,120,755.88 -454.45

FUND BALANCE JUNE 30, 1995

$ 39,308.51 $ 814,382.83

SPECIAL REVENUE FUND

ACTUAL

(BUDGET

BUDGET

BASIS}

$ 41,808.00 $ 126,619.86

710,158.00

622,750.83

82,191.00

88,359.38

$ 834,157.00 $ 837,730.07

$ 279,905.00 $ 310,643.49

900.00 5,006.00 8,292.00 23,067.00

900.00 4,815.49 39,730.79 21,845.76

2,052.00 2,065.00
3,843.00 509,027.00

2,070.45 1,287.83 5,606.55 2,521.48 391,781.64

$ 834,157.00 $ 781,203.48

$

0.00 $ 56,526.59

$ 100,000.00 $

1.00

-1001000.00

$

0.00 $

1.00

$

0.00 $ 56,527.59

156,783.46

143,330.25

11,258.59

6,468.49 1,183.64

$ 168,042.05 $ 207,509.97

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

LONG COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Long County Board ofEducation (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board and Superintendent, both elected by the voters. With the exception ofthe departures from generally accepted accounting principles disclosed in these notes, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards.
The more significant of the Board's accounting policies are described below.
REPORTING ENTITY
In evaluating how to define the government unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, "Defining the Financial Reporting Entity". The primary government consists of all the organizations that compose the legal entity of the Long County Board of Education.
Based upon the application ofthe above criteria, the Long County Board ofEducation is determined to be the lowest level ofgovernment exercising oversight responsibility and control over all activities related to public education in Long 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, except for the Superintendent who was also elected, the ability to significantly influence operations, and primary accountability for fiscal matters. The Board determines the millage rate at which school taxes are levied and may incur bonded indebtedness with voter approval.
FUND ACCOUNTING
The Board uses funds and an account group to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities.
A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources.
General Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types.

- 7-

LONG COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEl\ffiNTS

JUNE 30, 1995

Note I: SUM1v1ARY OF SIGNIFICANT ACCOUNTING POLICIES
Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose :financial statements.
The general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows:
GOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's general activities. Governmental Fund Types include:
GENERAL FUND - the fund used to account for all financial resources of the Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education.
SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund; however, the Board chooses not to provide for depreciation, but to maintain the fund on a modified accrual basis and to report the fund as a special revenue fund under governmental fund types, which is acceptable under generally accepted accounting principles for governmental entities.
CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities.
DEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for general obligation bonds outstanding.
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.
- 8-

LONG COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources.
Liabilities which are expected to be financed from available spendable resources are reported as liabilities in
the governmental funds. Other liabilities, which are not expected to be financed from available spendable
resources, are reported in the General Long-Term Debt Account Group. .
Governmental funds are accounted for using the modified accrual basis ofaccounting under which:
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount ofthe transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Property taxes are considered available if they are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end.
Expenditures are generally recognized when the related fund liability is incurred.
A departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share ofthese contracts. During fiscal year 1995, a substantial number of personnel
of the Board were employed for a one hundred and ninety day period beginning in late August 1994 and
ending in early June 1995. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1994 and ending in August 1995. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As ofJune 30, 1995, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1995, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1995. Also, the State's portion of the compensation paid in July and August 1995 was received and recorded as revenue in the fiscal year subsequent to June 30, 1995. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1994, were recorded in the year ended June 30, 1995. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed.
BUDGET
The Long County Board ofEducation's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is

- 9-

LONG COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995 .

Note 1: SUM:MARY OF SIGNIFICANT ACCOUNTING POLICIES
prepared by fund, function and object. The legal level ofbudget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles.
The budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions ofthe Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end.
The Statement ofRevenues, Expenditures and Changes in Fund Balances - Budget and Actual presents actual and budgeted data for the General Fund and Special Revenue Fund.
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash equivalents consist ofdeposits (including savings and N.O.W. accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement of proceeds from bond issues in certificates of deposit is limited to financial institutions located within this State.
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds in the following:
(1) Obligations issued by the State of Georgia or by other states,
(2) Obligations issued by the United States government,
(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,
(4) Obligations of any corporation of the United States government,
(5) Prime banker's acceptances,

- 10 -

LONG COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEl\ffiNTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(6) The Local Government Investment Pool administered by the State of Georgia, Office ofTreasury and Fiscal Services,

(7) Repurchase agreements, and

(8) Obligations of other political subdivisions of the State of Georgia.

RECEIVABLES
Receivables consist ofgrant reimbursements due from Federal, State or other 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 Long County Board of Commissioners fixed the property tax levy for the 1994 tax year (calendar year) on October 30, 1994 (levy date). Taxes were due on December 30, 1994. The lien date for property taxes was January 1, 1994. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1995 since their collection meets the criteria of GASB codification section P70. l 03. The Long County Tax Commissioner bills and collects the property taxes for the Board of Education and remits the balance of taxes collected to the Board.

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

School Operations School Bonds

14.14 mills 2.30 mills
16.44 mills

INVENTORIES

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

- 11 -

LONG COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEl\ffiNTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
GENERAL OBLIGATION BONDS
The Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the General Long-Tenn Debt Account Group.
INTERFUND TRANSACTIONS
The Board has the following types of interfund transactions:
Reimbunements ofexpenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed.
Operating transfen are recorded for all interfund transactions other than reimbursements.
MEMORANDUM ONLY - TOTAL COLUMNS
Total columns on the general purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in .these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
Note 2: DEPOSITS AND INVESTl\ffiNTS
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, Qr by collateral. The aggregate ofthe face value of such surety bond and the market value ofsecurities shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts.
Acceptable security for deposits consists of any one of or any combination of the following:
(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,

- 12 -

LONG COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 2: DEPOSITS AND INVESTMENTS

(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 of the counties or municipalities ofthe State of Georgia,

(5) Bonds ofany public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,

(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and

(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 Banlc, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.

CATEGORIZATION OF DEPOSITS At June 30, 1995, the bank balances were $1,530,323.83. The amounts of the total bank balances are classified into three categories of credit risk:

Category 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name.
Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name.
Category 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.)

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

Risk Category

Bank Balance

1

$ 100,000.00

2

0.00

3

1,430,323.83

Total

$ 1,530,323.83

- 13 -

LONG COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

.

Note 2: DEPOSITS AND INVESTMENTS

CATEGORIZATION OF INVESTMENTS At June 30, 1995, the carrying amount of the Board's total investments was $3,297,875.54 and consisted entirely of funds in the Local Government Investment Pool administered by the State of Georgia, Office of Treaswy and Fiscal Services which are not required to be categorized since the Board did not own any specific identifiable securities in the pool. The investment policy ofthe State ofGeorgia, Office ofTreasury and Fiscal Services for the Local Government Investment Pool does not provide for investment in derivatives or similar investments.

Note 3: NON-MONETARY TRANSACTIONS

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

Note 4: RISK MANAGEMENT

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

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

The Board has elected to self-insure for all losses related to natural disaster, which includes, among other risks, risks for earth movements and floods. The Board has not experienced any losses related to natural disaster in the past three years.

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

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

Beginning of Year Liability

Claims and . Changes in Estimates

Claims Paid

End of Year Liability

1994 1995

$

0.00 $

7 774.89 $

7,774.89 $

0.00

$

0.00 $

593.13 $

593.13 $

0.00

- 14 -

LONG COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 4: RISK MANAGEMENT

The Board participates in the Georgia Education and Government Workers' Compensation Trust, a public entity risk pool organized on December 1, 1991 to develop, implement, and administer a program ofworkers' compensation self-insurance for its member organizations. The Board pays an annual premium to the Fund for its general insurance coverage. Additional insurance coverage is provided through an agreement by the Fund with the Continental Insurance Company to provide coverage for potential losses sustained by the Fund in excess of $250,000.00 loss per occurrence, up to $1,000,000.00.

Note 5: GENERAL LONG-TERM DEBT

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

General Obligation
Bonds

Balance July 1, 1994

$ 2,495,000.00

Deletions

35,000.00

Balance June 30, 1995

$2,460,000.00

At June 30, 1995, payments due, by fiscal year which includes principal and interest for these items are as follows:

Fiscal Year Ended June 30
1996 1997 1998 1999 2000 2001 and thereafter
Total Principal and Interest

General Obligation
Bonds
$ 161,727.50 165,427.50 173,875.00 181,867.50 189,365.00
3,174,372.50
$ 4,046,635.00

- 15 -

LONG COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 6: RESTATEMENT OF FUND BALANCE

For the year under review, the following adjustments were necessary in the Capital Projects Fund to properly reflect July 1, 1994, fund balances.

Fund Balance July 1, 1994

1993 BOND ISSUE FUND

GSFIC PROJECT 95/94S-691-033 96-691-045

TOTAL

$

0.00 $2,324,771.04 $ 2,324,771.04

Restatement ofPrior Year Fund Balance
Fund Balance July 1, 1994-Restated

1,863,223.04 $1,863,223.04

-1,863,223.04 $ 461,548.00

0.00 $2,324,771.04

Note 7: SIGNIFICANT COMMITMENTS

The following is an analysis of significant outstanding construction or renovation contracts executed by the Board as ofJune 30, 1995, together with funding available:

Project Undistributed by Project

Unearned Executed Contracts

Funding Available From State

$3,014,364.51 $ 22,858.73

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).
- 16 -

LONG COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 9: RETIREMENT PLANS

TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. A member is eligtble for service retirement after 30 years of creditable service, regardless ofage, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death.

Retirement benefits also include death and disability benefits. A disabled member or surviving spouse is

entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement,

whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had

the member retired on the date of death on either a service retirement allowance or a disability retirement

allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years

of service) and compen_sation up to the time of disability or death.



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

The Board's payroll for employees covered by TRS for the year ended June 30, 1995, was $2,788,555.48; total payroll was $3,244,258.18.

TRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by TRS are required by State statute to contribute 5% oftheir gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board ofTrustees in accordance with State statute and as advised by their independent actuary. For fiscal year 1995 that rate for employer contributions was 11.81%. The interest rate assumption (rate of return on investments) was 7.50%.

Total contributions made during fiscal year 1995 amounted to $468,756.77, ofwhich $329,328.63 was made by the Board and $139,428.14 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll.

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

- 17 -

LONG COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 9: RETIREMENT PLANS

progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers.

Total unfunded pension benefit obligation ofTRS as of June 30, 1994, was as follows:

Total pension benefit obligation

$15,313,743,000.00

Net assets available for benefits, at cost

14,254,785,000.00

Unfunded pension benefit obligation

$ 1,058,958.000,00

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

Total contributions from all employers to TRS for fiscal year ended June 30, 1995 were $565,117,811.00. The Board's contribution for the year ended June 30, 1995 of $329,328.63 was actuarially determined and represented .0583% of total contributions made by all participating employers.

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

PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS)

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

PSERS provides in accordance with State statute service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after IO years of service and attainment ofage 65. A member applying for service retirement with IO years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number ofyears of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death.

Retirement provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent upon the number ofyears of service. Ifthere are less than ten years of service, a lump sum refund of the employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life half of what the employee would have received upon retirement.

- 18 -

LONG COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

I -_.

Note 9: RETIREMENT PLANS
Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest.
There were 46 employees covered under PSERS for the year ended June 30, 1995.
PSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board ofTrustees. Total contributions from employees ofthe Board made during fiscal year 1995 amounted to $1,536.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1995, was $9,162,000.00.
Note 10: SURETY BONDS
The School Superintendent, Ms. Janet M. Watford, is bonded in the amount of $20,000.00 with the Western Surety Company, Sioux Falls, South Dakota, their Bond No. 13657410, on which premium was paid to July 1, 1995.

- 19 -

LONG COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND
JUNE 30. 1995

ASSETS Cash and Cash Equivalents Accounts Receivable Inventories
Food Donated Commodities Purchased Food
Total Assets
LIABILITIES AND FUND EQUITY LIABILITIES
Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable
Total Liabilities FUND EQUITY
Fund Balances Reserved For Inventories Food Donated Commodities Purchased Food
Unreserved Undesignated Total Fund Equity
Total Liabilities and Fund Equity

SCHOOL FOOD
SERVICES FUND

STATE PRESCHOOL HANDICAPPED
PROGRAM

LOTTERY PROGRAMS

EDUCATION OF DEPRNED CHILDREN

$ 210,867.09 $

9,969.06 $

0.00

2,728.91

$

40,en.10

12,191.72 4,257.11

$ 230,044.83 $

9,969.06 $

------ o.oo s

40,sn.19

$ 1,842.43 $ 20,692.43
$ 22,534.86 $

20.32 105.60 9,843.14
9,969.06

$

3,490.91

5,867.98

27,243.09

4,375.21

$

40,sn.19

$ 12,191.72 4,257.11

$ 16,448.83

191,061.14 $

0.00 $

0.00 $

0.00

$ 207,509.97 $

0.00 $

0.00 $

0.00

$ 230,044.83 $

9,969.06 s_ _ _o_.oo_ s___40_.e_n..,,,_,.1s_

See notes to the general purpose financial statements.

-20-

EXHIBIT e-

ELEMENTARY AND SECONDARY EDUCATION ACT

TITLE II-

CHAPTER 1

EISENHOWER

CHAPTER 2

MATHEMATICS

MIGRANT BLOCK GRANT - AND SCIENCE

PROGRAM FLOW THROUGH EDUCATION

INDIVIDUALS WITH

DISABILITIES EDUCATION ACT

TITLE VI, B

FLOW

PRESCHOOL

THROUGH

PROGRAM

TOTALS JUNE 30, 1995 JUNE 30, 1994

$

2,737.79 $

4,072.86 $

0.00 $

1,139.95

$ 228,786.75 $ 175,159.04

$

2,557.00

46,263.10

43,597.13

$

2,737.79 $

12,191.72 4,257.11

5,723.23 .3,073.47

4,072.86 $ _ _ _ _0._00_$

1,139.95 $

2,557.00 $ 291,498.68 $ 227,552.87

$

332.14

968.00

1,437.65 $

$

2,737.79 $

4,072.86 4,072.86

$

2,013.51 $

5,504.42 $

1,000.00

$

99.23

8,162.10

40,588.34

1,040.72

50,049.84

41,131.23

543.49

20,272.35

1,503.05

$

1,139.95 $

2,557.00 $

83,988.71 $

84,222.62

$

0.00 $

$

0.00 $

$

2,737.79 $

0.00 $ 0.00 $
4,072.86 $

0.00 $ 0.00 $

0.00 $ 0.00 $

$
$ 0.00 0.00 $

12,191.72 $ 4,257.11
16,448.83 $ 191,061.14
207,509.97 $

5,723.23 3,073.47
8,796.70 134,533.55
143,330.25

0.00 $

1,139.95 $

2,557.00 $ 291,498.68 $ 227,552.87

- 21 -

LONG COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
SPECIAL REVENUE FUND YEAR ENDED JUNE 30, 1995

REVENUES
State Funds Federal Funds Local and Other Funds
Total Revenues
EXPENDITURES
Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES
Operating Transfers In
Excess of Revenues and Other Financing Sources over (under) Expenditures
FUND BALANCE JULY 1
Food Inventory - Net Change in Period Donated Commodities Purchased Food
FUND BALANCE JUNE 30

SCHOOL FOOD
SERVICES FUND

STATE PRESCHOOL HANDICAPPED
PROGRAM

LOTTERY PROGRAMS

EDUCATION OF DEPRIVED CHILDREN

$ 27,950.00 $ 331,999.85 88,359.38
$ 448,309.23 $

6,964.86 $

91,705.00 $

240,760.98

6,964.86 $ 91,705.00 $

240,760.98

$
$ 391,781.64 $ 391,781.64 $ $ 56,527.59 $

1,358.31 $ 55,386.65 $

5,606.55

35,000.00 1,318.35

213,489.69 900.00
21,809.88 752.10
1,287.83 2,521.48

6,964.86 $ 0.00 $

91,705.00 $ 0.00 $

240,760.98 0.00

$ 56,527.59 $ 143,330.25
6,468.49 1,183.64
$ 207,509.97 $

0.00 $

0.00 $

0.00

0.00

0.00

0.00

0.00 $

----- 0.00 $

0.00

See notes to the general purpose financial statements.

-22-

EXHIBITP

ELEMENTARY AND SECONDARY EDUCATION ACT

TITLE II-

CHAPTER 1

EISENHOWER

CHAPTER2

MATHEMATICS

MIGRANT BLOCK GRANT - AND SCIENCE

PROGRAM FLOW THROUGH EDUCATION

INDMDUALS WITH

DISABILITIES EDUCATION ACT

TITLEVI, B

FLOW

PRESCHOOL

THROUGH

PROGRAM

TOTALS YEAR ENDED JUNE 30, 1995 JUNE 30, 1994

$

8,512.35 $

$

8,512.35 $

5,414.14 $ 5,414.14 $

7,000.00 $

23,550.00 $

7,000.00 $

23,550.00 $

$ 5,513.51
5,513.51 $

126,619.86 $ 622,750.83
88,359.38
837,730.07 $

1a,3n.oo
602,863.71 84,837.15
766,on.86

$

8,512.35 $

$

8,512.35 $

$

0.00 $

254.90 $ 407.66 4,730.79
20.79
5,414.14 $ 0.00 $

2,sn.os s

23,550.00 $

4,407.83 15.09

7,000.00 $ 0.00 $

23,550.00 $ 0.00 $

5,514.51 $
5,514.51 $ -1.00 $

310,643.49 $
900.00 4,815.49 39,730.79 21,845.76 2,070.45 1,287.83 5,606.55 2,521.48 391,781.64
781,203.48 $
56,526.59 $

279,625.34
1,935.00 8,500.00 8,698.91 17,974.17 18,315.30 25,757.43
1,876.64 367,762.52
730,445.31
35,632.55

$

0.00 $

0.00

0.00 $ 0.00

s _ _ _o_.oo_s _ _ _ _ _o._oo_s

0.00 $ 0.00
0.00 $

0.00 $ 0.00

1.00

1.00

185.52

0.00 $ 0.00

56,527.59 $ 143,330.25

35,818.07 115,122.24

6,468.49 1,183.64

-8,564.33 954.27

o.oo s _ _ _ _o_.oo_s 207,509.97 $ 143,330.25

-23-

~ Cuh and Cuh Equivalents
Investments Aceounts Receivable
Total Assets

LONG COUNTY BOARD OF EDUCATION
COMBINING BALANCE SHEET
CAPITAL PROJECTS FUND
JUNE 30, 1995

EXHIBIT "G"

REGULAR

1993 BOND ISSUE
FUND

$ 95,000.00 $ 1,863,223.04

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION
PROJECT 95f94S.691.Q33
96-691-045

LOTTERY PROJECT 96195S-691-052

TOTALS JUNE 301 1995 JUNE 301 1994

$ 1,958,223.04 $

86,723.03

$

2,569,447.89

2,569,447.89 2,315,581.05

1,010,141.11 $ 166,152.00 1,176,293.11

17,547.27

$ 95,000.00 $ 1,863,223.04 $

3,579,589.00 $ 166,152.00 $ 5,703,964.04 $ 2,419,851.35

LIABILITIES ANO FUND EQUITY
LIABILITIES
Cash Overdraft Accounts Payable Contracts Payable Retainages Payable
Total Liabilities
FUNPEQUIIY
Fund Balances Reserved For Purposes of Bond Issue For State Capital Outlay Projects Unreserved Undesignated
Total Fund Equity

$ $

$ 1,863,223.04

$

$ 95.000.00

0.00

$ 95.000.00 $ 1.863.223.04 $

1,080,556.71 $
915,986.07 350,878.19
2,347.420.97 $

166,152.00 $

1,246,708.71 $
915,986.07 350,878.19

166.152.00 $ 2,513,572.97 $

80.31 80.31

1,232,166.03 0.00 $
1.232.168.03 $

$ 1,863,223.04 $ 1,863,223.04

1,232,168.03

461,548.00

0.00

es1000.oo

95,000.00

0.00 $ 31190,391.07 $ 2,419-771.04

Total Liabilities and Fund Equity

$ 95,000.00 $ 1,863,223.04 $

3,579,589.00 $ 166,152.00 $ 5,703,964.04 $ 2,419,851.35

See notes to the general purpose financial statements.

-24-

LONG COUNTY ~!SQ Qf l;DUCATION COMBIN!t!12 TAiliiM!itfi QE B~N!,!E, EXPENl2[[UBE ~C! QHANGI; IN E!.!NC! BALANCl::S
CAPIT&, PRQ,!EQT F!,!NC!
YEAB ENC!t::C! J!,!NE 30, 1995

EXHIBIT"H"

REGULAR

1993 BOND ISSUE
FUND

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION
PROJECT 95194S-691-033
96-691-045

LOTTERY PROJECT 96195S-691-0S2

TOTALS YEAR ENDED JUNE 30, 1995 JUNE 301 1994

B~N!.!lii
State Funds Local and Other Funds
Total Reven.-

s

0.00 S

s

0.00 S

0.00 S 0.00 $

3,689,496.19 $ 124,196.41
3,813,692.60 $

166,152.00 S 3,855,648.19 124,196.41 $
166,152.00 $ 3,979,844.60 $

44,062.96 44,062.96

l;XPl;NPffiJBlii

Current Support Services Business Administration Professional and Technical Services DuesandF-
Capital Outlay Building and Building Improvements
Total Expenditures
Excess ol Revenues over (under) Expenditures

s

0.00 S

s

0.00 $

s

0.00 S

0.00 S

376,291.71 $

0.00 S

3,801,576.86
s 4,1n1868.57

0.00 S 376,291.71 S
3,801,576.86
s 0.00 S 411n1868.57

73,844.48 438.22
62,sn.59
137,255.29

0.00 $

-364,175.97 S 166,152.00 $ -198,023.97 $ -93,192.33

QT!:lliiB E!NANCI~ Q!.!BQlii (!.!Iii}

Proceeds from General Obligation Bonds Par Value
Operating Transfers In Operating Transfers Out

s 1,134,796.00 $

s 2,495,000.00

18,462.00 $ 1,153,258.00

25,000.00

-184,614.00

-184,614.00

-80,822.86

Total Other Financing Sources

(Uses)

s

Excess ol Revenues and Other Financing Sources over (under) Expenditures and Other Financing U..

s

0.00 $

0.00 S

F!,!NC! BALANCI; J!,!LY 1 (Restated - See Note 6)

95,000.00 1,863,223.04

1,134,796.00 $ -166,152.00 $ 968,644.00 $ 2,43911n.14

no,620.03 s
461,548.00

s 0.00 S no,620.03 2,345,984.81

0.00 2,41s,n1.04

73,786.23

F!,!NC! BALANCE JUNE 3Q

s 951000.00 $ 1,863,223.04 $ 1,232,168.03 $

0.00 $ 3,1901391.07 $ 2141s1n1.04

See notes to the general purpose financial statements.

-25-

LONG COUNTY BOARD Of EDUCATION
SCHEDULE OF FEDERAL EINAN~IAL ASSISTANCE
YEAR ENDED JUNE 30, 1995

FUNDING AGENCY PROGRAM/GRANT

CFDA NUMBER

AWARDS IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

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

10.553 10.553 $

$ 61,275.32

10.555 10.555 10.550

225,901.33 44,823.20

1,571.49 61,228.11 $

61,275.32

2,334.32 223,219.63 N/A

225,901.33 $ 44,823.20

(2)
346,958.44 (3) 44,823.20

TotalU.S.DepartmentofAgriculture

$ 331,999.85 $

288,353.55 $ 331,999.85 $ 391,781.64

Education, U. S. Department of Direct P. L. 81-874 1989 Grant 1993 Grant 1995 Grant Through First District Regional Educational Service Agency d/b/a Live Oak Migrant Education Agency Elementary and Secondary Education Act Chapter1 Migratory Education Program 1994 Regular 1995 Regular Through Georgia Department of Education Elementary and Secondary Education Act Chapter 1 Education of Deprived Children 1993 Carry-Over 1994 Regular 1994 Carry-Over 1995 Regular 1995Summer Chapter2 Block Grant Flow Through 1995 Regular Tltlell Eisenhower Mathematics and Science Education 1995 Regular Individuals with Disabilities Education Act Title VI, B Flow Through 1994 Carry-Over 1995 Regular Preschool Program 1994 Carry-Over 1995 Regular

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

1,087.73 $ 36,845.00
13,400.00
11,038.00 229,621.00
8,168.00 9,487.00
7,000.00
636.00 22,914.00
2,557.00 3,500.00

1,087.73 $

1,087.73

(5)

20,482.00

36,845.00

36,845.00

(5)

-1,326.17 9,950.00

8,512.35 $

8,512.35

20,546.00 18,145.32 11,038.00 193,121.00

11,038.00 222,203.79
7,519.19

9,487.00

5,414.14

11,038.00 222,203.79
7,519.19
5,414.14

7,000.00

7,000.00

7,000.00

636.00 22,914.00
3,500.00

636.00 22,914.00
2,557.00 2,956.51

636.00 22,914.00
2,558.00 (3) 2,956.51

- 26

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

FUNDING AGENCY PROGRAM/GRANT

CFDA NUMBER

AWARDS IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

Education,U.S.Departmentof

Through Georgia Department of Education

Vocational Education - Basic Grants to States

High School Program

Basic Grant

1994Grant

84.048

$

573.00

1995 Grant

84.048 $ 11,800.49

9,197.00 $ 11,800.49

(4)

Tech-Prep Education

1994Grant

84.243

6,920.76

1995 Grant

84.243

21,546.45

12i711.23

21,546.45

(4)

Total U.S. Department of Education

$ 379,600.67 $

382,827.87 $ 362,030.65 $

290?51.98

Total Federal Financial Assistance

$ 7111600.52 $

571 11a1.42 s

694 030.so s _ _68_2_5_33_.62_

1

1

The Board had no major programs as defined by the Single Audit Act of 1984.

(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonrnonetary assistance for donated commodities received and/or consumed by the system during the current f1SCal year.
(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1995 National School Lunch Program.
(3) Expenditures for this program include State, and/or Local and Other Funds. Expenditures are not maintained by fund source.
(4) Expenditures on this program were not maintained by fund source. (5) Funds earned on this program do not require reporting of expenditures.

See notes to the general purpose financial statements.

- 27 -

LONG COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30, 1995
INTEREST BEARING ACCOUNTS
Coastal Bank, Hinesville, Georgia
Money Market Account (Variable) N.O.W. Accounts (3.15%)

SCHEDULE "2"
$ 63,092.93 949,996.34
$ 1,013,089.27

See notes to the general purpose financial statements. - 28 -

LONG COUNTY BOARD OF EDUCATION INVESTMENTS JUNE 30, 1995
INVESTMENT POOL State of Georgia, Office of Treasury and Fiscal Services Local Government Investment Pool (6.032%)

SCHEDULE "3" $ 3,297,875.54

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

LONG COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30, 1995

SCHEDULE4

Education, Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education Federal Funds Other State Program At-Risk Summer School Lottary Education Exceptional Growth - Capital Outlay Federal Programs ESEA - Chapter 1 Education of Deprived Children Individuals with Disabilities Education Act Title VI, B - Preschool
Georgia State Financing and Investment Commission Reimbursement on Construction Projects
Long Coumy Tax Commissioner Coumy Wide Bond Tax Coumy Wide School Tax
State of Georgia Office of Treasury and Fiscal Services Local Government Investment Pool Interest Earned

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

DEBT SERVICE
FUND

$

47.21

$

2,681.70

$ 11,438.71

4,680.96

$ 166,152.00

40,en.1e 2,557.00

49,385.55

998,449.97 $ 7,536.44

5,250.28

11,691.14

TOTAL
4721 2,681.70 11,438.71 4,680.96 166,152.00 40,9n.1e 2,557.00
998,449.97 7,536.44 49,385.55
16,941.42

$ 70,755.50 $ 46,263.10 $ 1,176,293.11 $ 7,536.44 $ 1,300,848.15

See notes to the general purpose financial statements.

- 30 -

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

SCHEDULE "5"

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

TOTAL DEBT SERVICE

1993 ISSUE

INTEREST

PRINCIPAL

$ 161,727.50 $ 121,727.50 $

165,427.50

120,427.50

173,875.00

118,875.00

181,867.50

116,867.50

189,365.00

114,365.00

40,000.00 45,000.00 55,000.00 65,000.00 75,000.00

196,365.00 202,837.50 213,752.50 223,912.50 223,225.00

111,365.00 107,837.50 103,752.50
98,912.50 93,225.00

85,000.00 95,000.00 110,000.00 125,000.00 130,000.00

227,115.00 230,325.00 232,825.00 234,665.00 235,825.00

87,115.00 80,325.00 72,825.00 64,665.00 55,825.00

140,000.00 150,000.00 160,000.00 170,000.00 180,000.00

235,925.00 235,475.00 239,475.00 242,650.00

45,925.00 35,475.00 24,475.00 12,650.00

190,000.00 200,000.00 215,000.00 230,000.00

$ 4,046,635.00 $ 1,586,635.00 $

2,460,000.00

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

1993 ISSUE

$

2,495,000.00

35,000.00

Bonds Payable at June 30, 1995
MATURITY DATES Semi-Annual Interest Payment Dates Annual Debt Retirement Date
See notes to the general purpose financial statements. - 31 -

$ =======2==,4=60...,.o=o=o=.o=o
MARCH 1 - SEPT 1 MARCH 1

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

SCHEDULE "6"

AGENCY/FUNDING
GRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Sparsity Grant Special Instructional Assistance In-School Suspension School Counselors Grades 4 and 5 Superintendents Base Salary Mid-term Adjustment Migrant Mid-term Adjustment Local Fair Share Educational Equalization Funding Grant Food Services other State Programs At-Risk Summer School Program Innovative Programs Mentor Teacher Program Preschool Handicapped Program Remedial Summer School Program Lottery Programs Distant Learning Exceptional Growth Instructional Technology Media Center and Library Equipment
Georgia State Financing and Investment Commission Reimbursement on Construction Projects
OTHER Education, Georgia Department of Reimbursement for Operations

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

TOTAL

$ 2,022,534.00 221,874.00 110,927.00 91,341.00 30,087.00 621,489.00
182,510.00 52,467.00 82;135.00 48,357.00 30,487.00 19,971.00 17,574.00 327,986.00
5,402.00 -350,401.00 2TT,073.00
$
4,680.96 4,980.00
460.00
1,411.08

27,950.00
6,964.86
4,200.00 $
52,505.00 35,000.00

$ 2,022,534.00 221,874.00 110,927.00 91,341.00 30,087.00 621,489.00

182,510.00 52,467.00 82,135.00 48,357.00 30,487.00 19,971.00 17,574.00 327,986.00 5,402.00 -350,401.00 2TT,073.00 27,950.00

4,680.96 4,980.00
460.00 6,964.86 1,411.08

166,152.00

4,200.00 166,152.00
52,505.00 35,000.00

3,689,496.19 3,689,496.19

1,000.00

1,000.00

$ 3,804,345.04 $ 126,619.86 $ 3,855,648.19 $ 7,786,613.09

See notes to the general purpose financial statements.

- 32 -

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

SCHEDULE "7"

Taxes County Wide Bond Tax County Wide School Tax Real Estate Transfer Tax
Other Donations Rayonier Foundation Interest Earned Jury Duty Fees Lost and Damaged Books Rents Revenue in Lieu of Taxes Timber Proceeds Funds Sales Lunches and Breakfast Supplemental School Assets Other

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE PROJECTS

FUND

FUND

DEBT SERVICE
FUND

TOTAL

$ 1,109,217.72 4,915.71

$ 166,453.95 $ 166,453.95 1,109,217.72 4,915.71

2,500.00 65,391.47 $
525.00 1,542.99 1,639.00

5,167.41 $ 124,196.41

11,367.05

13,928.64 2,887.53

78,503.14 4,688.83

1,424.80

2,500.00 196,180.09
525.00 1,542.99 1,639.00
11,367.05
78,503.14 4,688.83
13,928.64 2,887.53

$ 1,213,915.11 $ 88,359.38 $ 124,196.41 $ 167,878.75 $ 1,594,349.65

See notes to the general purpose financial statements. - 33 -

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

SCHEDULE "8"

EXPENDITURES
Operating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Compensation and Travel of Board Members Water, Sewer and Cleaning Services Repair and Maintenance Services Insurance Communications Commodity Haur.ng Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Other Expenditures
Nonoperating Costs Building and Building Improvements Equipment

GENERAL FUND

SPECIAL REVENUE
FUND

TOTAL

$ 2,922,113.03 $ 754,582.74 13,889.81 42,444.95 6,095.83 5,953.60 15,565.83 49,839.69 14,345.31
14,278.18 7,035.97 172,846.50 134,846.50
29,088.55 11,247.19 2,554.04

322,145.15 $ 70,136.04 2,344.25 17,210.54
1,080.00 11,484.26
1,368.74 2,914.06 5,606.55
28,578.32
211,119.74 2,186.51 1,655.00 126.29

3,244,258.18 824,718.78 16,234.06 59,655.49 6,095.83 7,033.60 27,050.09 49,839.69 15,714.05 2,914.06 19,884.73 7,035.97 201,424.82 134,846.50 211,119.74 31,275.06 12,902.19 2,680.33

103,881.69 126,658.46

103,248.03

103,881.69 2291906.49

Total Expenditures

$ 4,427,267.87 $ 781,203.48 $ 5,208,471.35

See notes to the general purpose financial statements. - 34 -

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

SCHEDULE "9"

DISTANT LEARNING

INSTRUCTIONAL TECHNOLOGY

MEDIA CENTER AND
LIBRARY EQUIPMENT

EXPENDITURES

Operating Costs Professional and Technical Services $ Supplies

1,000.00 $ 3,200.00

2,410.00 $ 2,371.96

2,906.05 $

Nonoperating Costs Equipment

47,723.04

32,093.95

TOTAL
6,316.05 5,571.96 79,816.99

Total Expenditures

$

4,200.00 $

52,505.00 $

s _ _ 35,ooo.oo

9_1_.1_0_5.o..o_

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

5\QV\_ \<-
~ ~'

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

SCHEDULE "1 O"

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

THIRTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

100% TEST FOR OPERATIONS PORTION OF THIRTEEN WEIGHTED PROGRAMS

$ 2,699,910.00 $

99?37.00

$ 2,614,851.70 128,937.28 $ _ _ _1_0_9_,_02_4_.6_1
$ 2,743,788.98

-7,457.93 $ 2,736,331.05

$

o.oo $======o==.o=o

See notes to the general purpose financial statements.
- 37 -

LONG COUNTY BOARD Of EDUCATION
ANALVSIS OF MINIMUM ExpENDITURE REQUIREMENTS - BY PROGRAM
GENERAL FUND- QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1995

GENERAL aNQ CAREER EDUCATION PROGRAMS
Kindergarten (") Grades 1 - 3 (")
Sub-Total - K-3 Grades 4 - 5 (") Grades 6 - 8 (") Grades 9-12 (") High School Laboratories (") Vocational Education Laboratories (")
Total General and Career Education Programs SPECIAL EDUCATION PROGRAMS
Regular Programs Category I (") Category II (") Category Ill (") Categoryn/(") Sub-Total- Regular Category V (Gifted) (") Total Special Education Programs
REMEDIAL EDUCATIQN PROGRAM Cl
Total Thirteen Weighted Programs MEDIA CENTER PROGRAMS
Salaries Operations
Total Media Center Programs
Total Thirteen Weighted and Media Center Programs

ALLOTMENTS FROM DEPARTMENT OF EDUCATION

REQUIRED

ORIGINAL

%

ORIGINAL

MID-TERM

$

250,307.00

$

225,276.30

623,194.00

560,874.60 $

$

873,501.00 90 $

786,150.90 $

296,n1.oo 90

267,093.90

445,932.00 90

401,338.80

246,315.00 90

221,683.50

64,179.00 90

57,761.10

95,836.00 90

86,252.40

$ 2,022,534.00

$ 1,820,280.60 $

80,993.00 80,993.00 20/XYJ.OO 152,241.00
253,234.00

$

216,641.00

$

194,976.90 $

0.00

$

216,641.00 90 $

194,976.90 $

5,233.00 90

4,709.70

$

221,874.00

$

199,686.60 $

$

110,927.00 90 $

99,834.30 $

$ 2,355,335.00

$ 2,119,801.50 $

0.00
0.00 0.00 253,234.00

$

70,438.00 90 $

63,394.20 $

0.00

. 20,903.00 90

18,812.70

$

91,341.00

$

82,206.90 $

0.00

$ 2,446,676.00

$ 2,202,008.40 $

253,234.00

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

$

7,097.00

$

7,097.00 $

0.00

22,990.00

22,990.00

0.00

$

30,087.00 100 $

30,087.oo s _ _ _....,o_.oo_

- 38 -

SCHEDULE "11"

TOTAL REQUIRED

ACTUAL EXPENDITURES

SALARIES

OPERATIONS

TOTAL

AMOUNTOF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

$

225,276.30 $

257,182.34 $

5,158.19 $

262,340.53

641,867.60

634,347.90

16,819.43

651,167.33

$

867,143.90 $

891,53024 $

21,9TT.62 $

913,507.86 $

0.00

287,093.90

309,728.14

7,601.88

317,330.02

0.00

553,579.80

537,540.59

29,207.06

566,747.65

0.00

221,683.50

238,978.84

13,06522

252,044.06

0.00

57,761.10

81,871.74

3,330.41

85,202.15

0.00

86,252.40

104,738.94

25,863.31

130,602.25

0.00

$ 2,073,514.60 $ 2,164,388.49 $

101,045.50 $ 2,265,433.99

$

194,976.90

$

5,829.67 $ 82,700.54 169,256.49
8,273.86

459.38 $ 1,756.82 2,748.14
932.85

6,289.05 84,457.36 172,004.63
9,206.71

$

194,976.90 $

266,060.56 $

5,897.19 $

271,957.75

0.00

4,709.70

4,547.72

162.86

4,710.58

0.00

$

199,686.60 $

270,608.28 $

6,060.05 $

276,668.33

$

99,834.30 $

100,968.67 $

1,919.06 $

102,887.73

o:oo

$ 2,373,035.50 $ 2,535,965.44 $

109,024.61 $ 2,644,990.05

$

63,394.20 $

78,88626

$

78,88626

0.00

18,812.70

$

19,912.67

19,912.67

0.00

$

82,206.90 $

78,886.26 $

19,912.67 $

98,798.93

$ 2,455,242.40 $ 2,614,851.70 $

128,937.28 $ 2,743,788.98 $ _ _ _ _ _ _0..0...0..

$

7,097.00

22,990.00

$ -.....=30==os=1=.oo==

$

19,650.73 $

19,650.73

10,477.87

10,477.87

$

30,128.60 $

30,12s.so $---=-==-=o..o..o...

39

LONG COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS
YEAR ENDED JUNE 30, 1995

SCHEDULE "12"

BOARD MEMBER ADDRESS
Mr. Joseph P. Dunham, Chairman (*) Route 3, Box 227 Hinesville, Georgia 31313
Ms. Florence Baggs (*)
P. 0. Box231
Ludowici, Georgia 31316
Ms. Marlene Manning (*) Route 2, Box 181 Ludowici, Georgia 31316
Ms. Kathy Walter (*) Route 2, Box 236A Ludowici, Georgia 31316
Ms. Billie Ann Wingate (*) Route 1, Box 83 Ludowici, Georgia 31316

COMPENSATION

TRAVEL

$

1,200.00

1,200.00 $

25.62

1,200.00

1,200.00

1,200.00

70.21

$

6,000.00 $ ============9=5==.8==3=

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

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

SECTION II COMPLIANCE

CLAUDE L. VICKERS
STATE AUOl"TOR
(404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 25, 1996

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Long 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 Long County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated June 25, 1996. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.

We did not observe the taking of either the Federal donated commodities inventory or the purchased foods

inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as

inventories through alternative procedures.



Compliance with laws, regulations, contracts, and grants applicable to Long County Board ofEducation 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.

95CRL-10

The results ofour tests disclosed no instances of noncompliance that are required to be reported herein under Government Auditing Standards.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal granter agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,

CLV:gp 95CRL-10

Claude L. Vickers State Auditor

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 25, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Long County Board ofEducation

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

Ladies and Gentlemen:

We have audited the general purpose financial statements ofthe Long County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated June 25, 1996. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

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

(1) Political Activity

(5) Allowable Costs/Cost Principles

(2) Civil Rights

(6) Drug-Free Workplace Act

(3) Cash Management

(7) Audit Follow-Up/Resolution

(4) Federal Financial Reports

(8) Administrative Requirements

Our procedures were limited to the applicable procedures described in the Office ofManagement 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 Long County Board ofEducation's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion.

95CRL-40

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

CLV:gp
95CRL-40

Claude L. Vickers State Auditor

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 25, 1996

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Long 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 Long County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated June 25, 1996. This report was qu~lified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
In connection with our audit of the fiscal year 1995 general purpose financial statements of the Long County Board of Education and with our consideration of the Board's control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (0MB) Circular A-128, "Audits of State and Local GovernmentsII, we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1995. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements governing:
Types of Services Allowed or Unallowed
Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Long County Board of Education's compliance with these requirements. Accordingly, we do not express such an opinion.

95CRL-120

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 Long County Board ofEducation had not complied, in all material respects, with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
_~
Claude L. Vickers State Auditor
CLV:gp 95CRL-120

SECTION ill INTERNAL CONTROL

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 25, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board ofEducation
and Superintendent and Members ofthe Long 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 of the Long County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated June 25, 1996. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.
The management of the Long 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

95ICL-3

ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because ofchanges in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate.
In planning and performing our audit ofthe general purpose financial statements ofthe Long County Board ofEducation for the year ended June 30, 1995, we obtained an understanding ofthe internal control structure. With respect to the internal control structure, we obtained an understanding ofthe design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion.
We noted certain matters involving the internal control structure and its operation that we consider to be reportable conditions under standards established by the American Institute ofCertified 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 desigri or operation of one or more ofthe internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions.
Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable conditions disclosed above are also considered to be material weaknesses.
These conditions were considered in determining the nature, timing, and extent of the procedures to be performed in our audit ofthe Long County Board ofEducation's financial statements and this report does not affect our report thereon dated June 25, 1996.
95ICL-3

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

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 25, 1996

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Long 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 Long County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated June 25, 1996. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and the provisions of Office ofManagement and Budget (0MB) Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.
In planning and performing our audit for the year ended June 30, 1995, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the Board's general purpose financial statements 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 June 25, 1996.

95ICL-15

The management of the Long 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 permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that Federal financial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate.

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

GENERAL REQUIREMENTS

SPECIFIC REQUIREMENTS

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

(1) Types of Services Allowed or Unallowed
(2) Eligibility
(3) Matching, Level 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, 1995, the Long County Board ofEducation had no major Federal financial assistance programs and expended 67% ofits total Federal financial assistance under the following nonmajor Federal financial assistance programs:

95ICL-15

Food and Nutrition Program Food Services National School Lunch Program
Elementary and Secondary Education Act - Chapter I Education ofDeprived Children
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 descnbed above that are applicable to the aforementioned nonmajor programs. 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 of the internal control structure that, in our judgment, could adversely affect the Board's ability to administer Federal financial assistance programs in accordance with applicable laws and regulations.
As described in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category:
Administrative Requirements
A material weakness is a reportable condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions.
Our consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition described above is also considered to be a material weakness.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~
Claude L. Vickers State Auditor
CLV:gp 95ICL-15

SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS

LONG COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1995
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $1,954.76 Audit Control Number 6911-94-01
The audit report for year ended June 30, 1994, disclosed that the Board had underexpenditures of Quality Basic Education (QBE) funds ofSl,720.36 for the salaries portion of the General and Career Grades 6 - 8 Program, $131.70 for the salaries portion ofthe Special Education Category V (Gifted) Program and $102.70 for the Staff Development Programs - Professional Development Program. For the year under review, no adjustment was made to Board's local fair share by the Georgia Department of Education to refund these underexpenditures as required. These funds should be returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period.
AUDIT FOLLOW-UP/RESOLUTION Detail of Salaries Not Reconciled Financial Statements Finding Resolved Audit Control Number 6911-94-02
The audit report for the year ended June 30, 1994, stated that the detail listing of salary payments made to employees as submitted by the Board to the Georgia Department ofAudits was not reconciled with the general ledger as presented for audit. For the year under review, the detail listing of salary payments made to employees as submitted by the Board was reconciled with the general ledger.
PRIOR YEAR/CURRENT YEAR
ACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation ofDuties Reportable Condition - Material Weakness Audit Control Number 6911-93-01
The audit report for the year ended June 30, 1994, stated that the Board did not provide for adequate separation ofemployee duties in the performance of accounting functions and related procedures. In the year under review, no improvement in adequate separation of employee duties was noted. This deficiency was a result of management's decision to limit the number of administrative staff made responsible for accounting functions. Management should periodically review this decision to determine if employee duties can be reassigned to achieve a higher degree of internal control with existing staff.
Note: All Federal financial assistance programs listed in the Schedule of Federal Financial Assistance, Schedule "l" ofthis report are affected by this finding.
- 1-

LONG COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1995
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failu~e to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6911-93-02
The audit report for year ended June 30, 1994, noted that the management of the Long County Board of Education had chosen not to maintain a system-wide General Fixed Assets Account Group withi 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 the General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group.
CURRENT YEAR
GENERAL LEDGER Failure to Maintain Separate Accountability Financial Statements Nonmaterial Noncompliance Audit Control Number 6911-95-01
The capital outlay projects funded in part by the Georgia State Financing and Investment Commission, were not maintained and designated by separate project name and number. Both the instructions in Chapter 41 of the Financial Management for Georgia Local Units of Administration (FMGLUA) manual and the agreement signed by the Board to receive funding require that the Board designate those funds by separate project name and number within the Capital Projects Fund. This separate accountability was not maintained by the Board.
This condition occurred because management was not aware of the provisions of the FMGLUA. Correcting audit adjustments were necessary to separate revenues and required transfers, however expenditures could not be identified by project. The Board should take appropriate action to restructure their accounting records and maintain them in compliance with instructions contained in FMGLUA as required.
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SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS

LONG COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS
YEAR ENDED JUNE 30, 1995
AUDIT FOLLOW~UPIRESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $1,954.76 Audit Control Number 6911-94-01
We concur with this finding. This finding will be resolved by the Georgia Department ofEducation through a future increase in Board's local fair share portion ofQBE Allotments in 1997.
ACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation ofDuties Reportable Condition - Material Weakness Audit Control Number 6911-93-01
We concur with this finding, however, due to current budgetary constraints, the Board is unable to hire the additional staff required to clear this finding. The Board believes it has provided for the most appropriate assignment ofduties with the number of personnel available to perform the accounting functions. With staff limitations, this finding cannot be totally resolved.
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6911-93-02
We concur with this recommendation. Due to current staffing limitations and budgetary considerations prohibiting the hiring ofadditional administrative staff, the Board has decided not to pursue the recording of general fixed assets on the financial statements.
GENERAL LEDGER Failure to Maintain Separate Accountability Financial Statements Nonmaterial Noncompliance Audit Control Number 6911-95-01
We concur with this finding, however, instructions were given from the Georgia Department ofEducation to combine Project Nos. 96/95S-691-052 and 96-691-045 under Project No. 95/94S-691-033 when submitting requests for reimbursements.