Audit report, Meriwether County Board of Education, Greenville, Georgia, year ended June 30, 1994

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STATE OF GEORGIA DEPARTMENT OF AUDITS
254 WASHINGTON STREET ATLANTA, GEORGIA 30334

AUDIT REPORT MERIWETHER COUNTY BOARD OF EDUCATION
GREENVILLE, GEORGIA YEAR ENDED JUNE 30, 1994

MERIWETHER COUNTY BOARD OF EDUCATION TABLE OF CONTENTS -

~ SECTION I

FINANCIAL

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

EXHIBITS

GENERAL PURPOSE FINANCIAL STATEMENTS

COMBINED STATEMENTS - OVERVIEW

A

COMBINED BALANCE SHEET

ALL FUND TYPES AND ACCOUNT GROUP

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

GOVERNMENTAL FUND TYPES

AND EXPENDABLE TRUST FUND

4

C

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - ACTUAL AND BUDGET

GOVERNMENTAL FUND TYPES

6

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

FIDUCIARY FUND TYPE

G

COMBINING BALANCE SHEET

24

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

EXPENDABLE TRUST FUNDS

25

SCHEDULES

I SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

26

2 ANALYSIS OF CASH AND CASH EQUIVALENTS

28

3 INVESTMENTS

29

4 ACCOUNTS RECEIVABLE

30

SCHEDULE OF REVENUE

5

STATE FUNDS

31

6

LOCAL AND OTHER FUNDS

32

MERIWETHER COUNTY BOARD OF EDUCATION TABLE OF CONTENTS -

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

SCHEDULE OF EXPENDITURES BY OBJECT

7

GOVERNMENTAL FUND TYPES

33

8

LOTTERY PROGRAMS

34

9

FIDUCIARY FUND TYPE

EXPENDABLE TRUST FUNDS

36

ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

10

OVERALL

37

II

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

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

SECTION I FINANCIAL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 30, 1995

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

* School activity accounts maintained at the individual schools are not included in the general purpose

financial statements. To conform to generally accepted accounting principles, these accounts should

be included in the general purpose financial statements.



* The Board did not recognize as expenditures, in the year ended June 30, 1994, a portion of salaries and the corresponding employer's cost ofrelated benefits earned for contractual services completed prior to June 30, 1994. Also funds received, subsequent to June 30, 1994, from the Georgia Department ofEducation for the State's share ofthese unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were improperly recorded in the year ended June 30, 1994. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed.

The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material.

In our opinion, except for the effects on the general purpose financial statements ofthe matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Meriwether County Board of Education as of June 30, 1994, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles.

Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements of the Meriwether County Board of Education 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 of additional analysis and are not a required part of the general purpose financial statements ofthe Meriwether County Board ofEducation. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole.

A copy ofthis report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24.

Respectfully submitted,
c:l~~
Claude L. Vickers State Auditor

CLV:cm 94ARL-13

MERIWETHER COUNTY BOARD OF EDUCATION - 1-

COUNTY BOARD OF EDUCATION ED BALANCE SHEET ES AND ACCOUNT GROUP
JUNE 30 1994

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

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

$ 431,467.39 $

58,957.02

$ 370,028.46

65,329.04

221,694.63

17,888.92 14,284.77

$ 435,357.50 $ 685,335.71 s _ _s_.8..,9_s..,1._0_2

LIABILITIES AND FUND EQUITY
LIABILITIES
Cash overdraft Accounts Payable Salaries Payable Notes Payable Expired Grant Balances Payable Deferred Revenue Capnal Lease Agreements
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For State Capital Outlay Projects
Unreserved Deficit Undesignated
Total Fund Equity
Total Liabilities and Fund Equity

$ 150,023.33

17,731.58 $

40,324.52

166,568.14

12,065.66 19,540.26

$ 167 754.91 $ 238,498.58

$

92,176.66 $

687.99

17,888.92 14,284.77
$

$

92,176.66 $

32,861.68 $

175 425.93

413 975.45

$ 267,602.59 $ 446 837.13 $

58 957.02 58,957.02
0.00 58 957.02

$ 435 357.50 $ 685,335.71 $

581957.02

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

EXHIBIT"A"

FIDUCIARY FUND TYPE EXPENDABLE TRUST FUNDS

$

8,794.42

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS (Memorandum Onl~l JUNE 30 1994 JUNE 30 1993

$

499,218.83 $

369,055.97

370,028.46

287,023.67

336,402.02

17,888.92 14,284.77

19,983.21 11,250.30

$

418 847.76

418 847.76

$

8,794.42 $

418,847.76 $ 1,607,292.41 $

736,691.50

$

150,023.33

58,056.10 $

160,089.30

166,568.14

165,949.79

275,000.00

12,065.66

4,726.89

19,540.26

$

418 847.76

418 847.76

$

418 847.76 $

825101.25 $

605 765.98

$

8 794.42

$

8 794.42

$

92,864.65 $

18,080.66

17,888.92 14,284.77 58,957.02

19,983.21 11,250.30 58 957.02

$

183,995.36 $

108,271.19

598 195.80

-293,342.66 315,996.99

$

782 191.16 $

130,925.52

$

8,794.42 $

418,847.76 $ 1,607,292.41 $

736,691.50

-3-

MERIWETHER COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUND TYPES AND EXPE'NDABLE TRUST FUNDS YEAR ENDED JUNE 30 1994

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

-

Transportation Services

Central Support Services

Other Support Services

Food Services Operation

Other Operations of Non-Instructional Services

Capital Outlay

Debt Service

Total ~ttures Excess of Revenues over (under) ~ttures

OTHER FINANCING SOURCES (USES)

Capital Leases
Operating Transfers In Operating Transfers Out

Total Other Financing Sources (Uses)

Excess of Revenues and Other Financing Sources over (under) ~ttures and Other Financing Uses

FUND BALANCE JULY 1

Food Inventory Net Change In Period Donated Commodities Purchased Food

GENERAL FUND

GOVERNMENTAL FUND

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

$ 12,048,817.61 $ 96,708.66
3888999.93

585,438.06 $ 2,294,080.34
253097.44

$ 16 034 526.20 $ 3132 615.84 $

0.00 0.00

$ 9,879,317.06 $ 1,446,679.25 $

279,580.90 247,062.07 410,392.03 344,098.55 1,307,977.03 123,218.02 1,275,683.16 1,408,527'.18 162,410.52
10,822.90 7.24
155,946.48 56,599.44
180285.66

140,828.47 78,146.43 1,302.36 96,947.36 37,307.15
4,659.80 36,000.56 15,184.00 27,190.54 1,373,788.34
5,505.00 73239.34

$ 15 841 928.24 $ 3 336 778.60 $

$

192597.96 $ -204162.76 $

0.00
0.00 0.00

$

351,920.60 $ 320,452.16

1,653.97

-1653.97

$

350266.63 $ 322106.13

$

542,864.59 $

117,943.37 $

-275,262.00

327,953.58

0.00 58,957.02

-2,094.29 3034.47

FUND BALANCE JUNE 30

$

267,602.59 $ 446,837.13 $

58,957.02

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

EXHIBIT"B'

TYPES TOTAL

FIDUCIARY FUND TYPE EXPENDABLE TRUST FUNDS

TOTALS (Memorandum Onll'.)
YEAR ENDED JUNE 30 1994 JUNE 30 1993

12,634,255.67 $ 2,390,789.00 4142097.37
$ 19167142.04 $

0.00 $

12,634,255.67 $ 2,390,789.00 4142097.37

12,556,182.57 2,452,100.95 3817838.53

0.00 $ 19167142.04 $ 18826122.05

11,325,996.31

420,409.37 325,208.50 411,694.39 441,045.91 1,345,284.18 123,218.02 1,280,342.96 1,444,527.74 1TT,594.52 38,013.44 1,373,795.58 155,946.48 $ 62,104.44 253525.00

$ 19178 706.84 $

$

-11 564.80 $

$ 11,325,996.31 $ 11,271,322.03

10,482.50

420,409.37 325,208.50 411,694.39 441,045.91 1,345,284.18 123,218.02 1,280,342.96 1,444,527.74 1TT,594.52 38,013.44 1,373,795.58 166,428.98 62,104.44 253525.00

295,399.59 465,405.68 399,476.82 419,841.96 1,157,216.43 132,624.91 1,308,253.52 1,402,441.16 63,028.20
6,728.00 1,299,9TT.23
162,065.26 657,102.49

10482.50 $ 19189189.34 $ 19 040 883.28

-10482.50 $

-22047.30 $ -214 761.23

672,3n.76 1,653.97 -1653.97
$ 6723n.76
$ 660,807.96 $ 111,648.60
-2,094.29 3034.47

$

672,372.76

1,653.97 $

575,079.00

-1 653.97

-575079.00

6n3n.76 $

0.00

-10,482.50 $ 19,276.92

650,325.46 $ 130,925.52

-214,761.23 361,0TT.13

-2,094.29 3034.47

-16,538.43 1148.05

773396.74 $

8 794.42 $

782191.16 $

130,925.52

-5-

MERIWFIHEB CQl INTY BOARD OF f PLICATION QQMal~EQ TMEMFtil QE BE~NUE F~ft!DITUB~S ~Q ~tie!t!Gf lt.:l B.!t.:lP ~I ~~f
~I!J.al At!Q a!JQgfT G~RNMENT.61 FUf.:lP filE YEABENDEPJUNE3Q 1994

EXHIBIT "C-

ACTUAi. PER
EXHIBIT"B"

ADJUSTMENTS

ACTUAi. PER
BUDGET BASIS

BUDGET

VARIANCE FAVORABLE (l,!NFAVORABLE)

~
State Funds Federal Funds Local and Other Funds

12,634,255.67 S 2,390,789.00 4142,097.37

0.00 $

12,634,255.67 $ 12.271,146.00 $ 2,390,789.00 2,262,747.00 4142,097.37 4,094,454.00

363,109.67 108,042.00 47,643.37

Total Revenues

19167142.04 $

0.00 $ 19 167142.04 $ 18,646,347.00 $

518,795.04

~Pfl'.121IUBE

Current Instruction Support Services
Pupil Services Improvement ol lnslrudional Services Educational Media Services General Administralioo School Administration Business Administration Maintenance and Operation of Plant Sludent Tnu,spo,tation Services Centnll Support Services Olher Support Services Food Services Operalioo Olher Operationo ol Non-lnwuctional Services Capital Oullay
Deb!Servic:e

11,325,996.31 $
420,409.37 325.208.50 411,694.39 441,045.91 1,345,284.18 123.218.02 1,280,342.96 1,444,527.74 177,594.52
38,013.44 1,373,795.58
155,946.48 62,104.44 253,525.00

0.00 S

11,325,896.31 S 10,399,525.00 $

420,409.37 325.208.50 411,694.39 441,045.91 1,345,284.18 123,218.02 1,280,342.96 1,444,527.74 177,594.52
38,013.44 1,373,795.58
155,946.48 62,104.44 253,525.00

576,607.00 441,304.00 446,067.00 384,212.00 1.202,872.00 152,763.00 1.267,253.00 1,294,775.00 173,649.00 30,750.00 1,432,336.00 165,510.00 381,031.00

-926,471.31
156,197.63 116,095.50 34,372.61 -56,833.91 -142,412.18
29,544.98 -13,089.96 -149,752.74
-3,948.52 -7,263.44 58,540.42 9,563.52 318,926.56 -253,525.00

Total~

19178,706.84 $

0.00 $ 19,178,706.84 $ 18,348,651.00 $

-830,055.84

ExA:esa olR._...,. (.,._) Expondiluros

-11584.80 S

0.00 $

-11 584.80 $ 299,696.00 S

-311,260.80

QI~B E!~lt:& QUBCE a.!~El

OlherSoun:os OlherlJsas

674,026.73 $ -1,653.97

0.00 $

674,026.73 S -1,653.97

0.00 $

67 ,026.73
-1,653.97

Tollll Olher Finaneing Sources (Uses)

672,372.76 $

0.00 $

672,372.76 $

0.00 $

672,372.76

Excess of Revenues and Other Financing Sources ewer (under) Expondiluros and Other Fmoncing Uses $

660,807.96 $

0.00 $

660,807.96 $ 299,696.00 S

361,111.96

F!.!W2 ~ At,j~f JULY 1 11m

111,646.80

-31,233.51

80,15.09

129,168.94

-48,753.65

~UTME~

Prior Yoor (Net)

-981.24

981.24

EQQQ ltMtilQBY NET ~HANGE, I~ eERIQQ

Donated CommodPurchased Food

-2,094.29

2,094.29

0.00

0.00

3,034.47

-3,034.47

0.00

0.00

FUf.:lP ~~E JU~E ~ 1~

s m.396.74

-32,173.69 $

741,223.05 $ 427,883.70 $

313,339.35

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

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

ruNE 30 1994

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

MERIWETHER COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements.
The general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows:
GOVERNMENTAL FUND TYPES - are used to account for all or most ofa Board's general activities. Governmental Fund Types include:
GENERAL FUND - the fund used to account for all financial resources of the Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services traditionally provided by a board ofeducation.
SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund; however, the Board chooses not to provide for depreciation, but to maintain the fund on a modified accrual basis and to report the fund as a special revenue fund under governmental fund types, which is acceptable under generally accepted accounting principles for governmental entities.
CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities.
FIDUCIARY FUND TYPE - the trust funds used to account for assets held by a government unit in a trustee capacity for individuals, private organizations, other government units and/or other funds. These funds include:
EXPENDABLE TRUST FUNDS Baskin Estate Fund - the fund used to account for the escheated funds of the Mary Bell Baskin Estate, which were received by the Board on January 12, 1993.
Self-Insured Employee Benefit Fund - the fund used to account for Unemployment Compensation Insurance contributions and expenditures.

- 8-

:MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS

JUNE30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for material capital lease obligations.
BASIS OF ACCOUNTING
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds and expendable trust funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources.
Liabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group.
Governmental funds and expendable trust funds are accounted for using the modified accrual basis of accounting under which:
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount ofthe transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities 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 1994, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1993 and ending in early June 1994. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1993 and ending in August 1994. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As ofJune 30, 1994, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1994, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1994. Also, the State's portion of the compensation paid in July and August 1994 was received and
- 9-

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
recorded as revenue in the fiscal year subsequent to June 30, 1994. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were recorded in the year ended June 30, 1994. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed.
BUDGET
The Meriwether County Board ofEducation has a legally authorized nonappropriated budget which is formally approved by the Board at the aggregate level. Budgets are prepared to provide a basis for funding operations and there is no legal prohibition regarding overexpenditure of the aggregate budget. The budget process begins when the Board's administration prepares a tentative aggregated budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department of Education.
The Board prepares its budget on the modified accrual basis, which is the same basis on which it presents its financial statements. The budget comparison on Exhibit "C" presents actual and budget data for all governmental funds on a combined basis. To facilitate comparison with the budget, donated and purchased food inventories as reflected on Exhibit "B" have been eliminated from fund balance.
CASH AND CASH EQUIVALENTS
COMPOSmON OF DEPOSITS Cash and cash equivalents consist ofdeposits (including N.0.W. accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement of proceeds from bond issues in certificates 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 ofGeorgia 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,

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MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,

(4) Obligations of any corporation ofthe United States government,

(5) Prime banker's acceptances,

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

(7) Repurchase agreements, and

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

RECEIVABLES

Receivables consist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from 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 Meriwether County Board of Commissioners fixed the property tax levy for the 1993 tax year (calendar year) on October 20, 1993 (levy date). Taxes were due on December 20, 1993. The lien date for property taxes was January 1, 1993. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1994 since their collection meets the criteria of GASB codification section P70.103. The Meriwether County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection, and remits the balance of taxes collected to the Board.

The tax millage rate levied for the 1993 tax year (calendar year) for the Meriwether County Board of Education was as follows (a mill equals SI per thousand dollars of assessed value):

School Operations

11..Q 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

- 11 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNEJO 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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.
COMPENSATED ABSENCES
Compensated absences represent obligations of the Board relating to employees' rights to receive compensation for future absences based upon service already rendered. This obligation relates only to vesting accumulating leave in which payment is probable and can be reasonably estimated. No liability has been recorded in the individual funds for the current portion of this obligation as this amount is deemed immaterial to the general purpose financial statements.
Additionally, the dollar value of accumulated compensated absences at June 30, which will be payable from future resources has not been recorded in the General Long-Term Debt Account Group as this liability is also deemed to be immaterial to the fair presentation ofthese financial statements.
INTERFUND TRANSACTIONS
The Board has the following types ofinterfund transactions:
Reimbursements ofexpenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed.
Operating transfers are recorded for all interfund transactions other than reimbursements.
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 INVESTMENTS
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral in an amount of not less than 110 percent ofthe public
- 12 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXIDBIT "D"

NOTES TO TIIB GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30 1994

Note 2: DEPOSITS AND INVESTMENTS
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 ofor any combination of the following:
( 1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates ofindebtedness 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 Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.
CATEGORIZATION OF DEPOSITS At June 30, 1994, the bank balances were $1,745,850.95. 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.)
- 13 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 2: DEPOSITS AND INVESTMENTS

The Board's deposits are classified by risk category at June 30, 1994, as follows:
Risk Category I 2 3 Total
CATEGORIZATION OF INVESTMENTS Investments are classified as to risk by the three categories described below:

Bank Balance $ 100,000.00
374,574.00 I 271 276.95 $ I 745 850 95

Category I - Insured or registered, or securities held by the Board or the Board's agent in the Board's name.
Category 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the Board's name.
Category 3 - Uninsured or unregistered, with securities held by the counterparty, or by its trust department or agent but not in the Board's name.

Funds invested in an investment pool managed by another government are not required to be categorized unless the investing entity owns specific, identifiable investment securities in the pool.

At June 30, 1994, the carrying amount ofthe Board's total investments was $370,028.46 and consisted entirely offunds in the Local Government Investment Pool administered by the Office ofTreasury and Fiscal Services which are not required to be categoriz.ed since the Board did not own any specific identifiable securities in the pool.

Note 3: NON-MONETARY TRANSACTIONS

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

Note 4: RISK MANAGEMENT

The Board has established a limited risk management program for Unemployment Compensation. Estimated claims are budgeted by management based on known claims and prior experience. Each fund contributes their pro rata share to the Unemployment Compensation fund and claims are paid from this fund during the fiscal year. During fiscal year 1994, a total ofSI0,482.50 w~ paid in claims.

- 14 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 5: GENERAL LONG-TERM DEBT

CAPITAL LEASES The Meriwether County Board ofEducation has entered into various lease agreements as lessee for computers and school buses. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value ofthe future minimum lease payments as of the date of their inception.

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

Capital Leases

Balance July 1, 1993

$

0.00

Additions

672,372.76

Deductions

253 525.00

Balance June 30, 1994

$ 418 84776

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

Fiscal Year Ended June 30

Capital Leases

1995 1996 1997 1998 1999

$ 114,641.00 114,641.00 114,641.00 114,641.00 41 401.66

Total Principal and Interest

$ 499,965.66

Deduct: Imputed Interest

81 117.90

Net Present Value of Future Minimum Lease Payments

$ 418 847 76

Note 6: SIGNIFICANT COMMITMENTS

At June 30, 1994, the Board had encumbrances in the amount of$29,763.71 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with the Lottery Programs. The Georgia Department of Education has funding available to the Board in the amount of

- 15 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 6: SIGNIFICANT COMMITMENTS

$29,511.71. The revenues and expenditures associated with these encumbrances will be recognized in the subsequent fiscal year. Encumbrances outstanding do not constitute expenditures or liabilities in the current year because these commitments will be honored during the subsequent year. These encumbrances are identified by Lottery Program as follows:

Computers In Classrooms
Distant Leaming Media Center and Library Equipment
Safe Schools Grant

$ 18,227.40 1,564.86 2,833.45 7 138.00
$ 29 763 71

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

Note 7: CONTINGENT LIABILITIES

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

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

Note 8: ACCUMULATED EMPLOYEES' LEAVE

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

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 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 9: RETIREMENT PLANS
TRS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for service retirement after 30 years ofcreditable service, regardless of age, or after 1Oyears of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number ofyears of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death.
Retirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death.
Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest.
The Board's payroll for employees covered by TRS for the year ended June 30, 1994, was $10,337,430.76; total payroll was $12,012,402.76.
TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required to contribute 6% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees as advised by their independent actuary. For fiscal year 1994 that rate for employer contributions was 11.81%. The interest rate assumption (rate of return on investments) was 7.50"/o.
Total contributions made during fiscal year 1994 amounted to $1,841,485.23, of which $1,221,236.46 was made by the Board and $620,248.77 was made by employees. These contributions represented 11.81% (Board) and 6% (employees) of covered payroll.
TRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers.
- 17 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 9: RETIREMENT PLANS

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

Total pension benefit obligation

$13,912,014,000.00

Net assets available for benefits, at cost Unfunded pension benefit obligation

12 821 722 000.00
oo $ I 090 292 000

as The measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1993 .
Net assets available to pay pension benefits were valued of the same date. TRS does not make separate measurements ofassets and pension benefit obligation for individual employers.

Total contributions from all employers to TRS for fiscal year ended June 30, 1994 were $521,550,000.00. The Board's contribution for the year ended June 30, 1994 of $1,221,236.46 was actuarially determined and represented .2342% of total contributions made by all participating employers.

Ten year historical trend information is presented in the 1994 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due.

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 ofGeorgia.

PSERS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years ofservice and attainment of age 65. A member applying for service retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number of years of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death.

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

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

- 18 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 9: RETIREMENT PLANS
There were 158 employees covered under PSERS for the year ended June 30, 1994.
PSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1994 amounted to $5,608.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1994, was $9,150,000.00.
Note 10: SURETY BONDS
Mr. J. Paul Abernathy, School Superintendent through May 31, 1994, was bonded in the amount of $50,000.00 with the Western Surety Company, Sioux Falls, South Dakota, their Bond No. 18276816.
The School Superintendent, Mr. Robert P. Hawk, effective June l, 1994, is bonded in the amount of $50,000.00 with the Western Surety Company, Sioux Falls, South Dakota, their Bond No. 68365427, on which premium was paid through May 31, 1995.

- 19 -

MERIWETHER COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30 1994

ASSETS
Cash and Cash Equivalents
Accoun1s Receivable
I,,_ Food Donated Commodities Purchased Food

ELEMENTARY AND

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

CHAPTER 1

EDUCATION OF

EDUCATION OF

CHILDREN IN

DEPRIVED

STATE SCHOOLS

CHILDREN

$ 490,750.19

$

0.00

12,179.71 $ 46,853.68

$

93,853.46

17,BBB.92 14,284.77

Total Assets

$ 535,103.59 $ 46,853.68 $

0.00 $

93,853.46

LIABILITIES AND FUND EQUITY

LIABILITIES

Cash Overdraft
Accoun1s Payable Salaries Payable Elcpired Grant Balances Payable Deferred Revenue

$

$

6,611.96

82,342.-49

Total Liabilities

$ 88,954.45 $

FUND EQUITY

Fund Balances

Reserved

For Expired Grant Balances/Q- Costs

For Inventories

Food

Donated Commodities

$

Purchased Food

17,BBB.92 14,284.77

Unreserved Undesignated

$ 32,173.69 413,975.45 $

Total Fund Equity

$ 446,1-49.14 $

10,489.18 15,165.88
1,658.36 19,540.26 46,853.68
0.00 $ 0.00 $

Total Liabilities and Fund Equity

$ 535,103.59 $ 46,853.68 $

$

8,252.52

15,252.42

70,348.52

$

93,853.46

0.00 $ 0.00 $
0.00 $

0.00 0.00
93,853.46

Sae notes to the general purpose financial statemen1s.

-20-

EXHIBIT"E"

SECONDARY EDUCATION ACT

TITLE II-

EISENHOWER

CHAPTER2

MATHEMATICS

BLOCK GRANT - AND SCIENCE

FLOW THROUGH

EDUCATION

INDIVIDUALS WITH

DISABILITIES EDUCATION ACT

TITLE VI, B

FLOW

PRESCHOOL

THROUGH

PROGRAM

JOB TRAINING PARTNERSHIP
ACT

TOTALS JUNE 30, 1994 JUNE 30, 1993

$

11,209.78 $

4,990.45 $

1,188.12 $ 508,116.54 $

220,840.96

$

40,611.00 $

17,984.44

10,212.34

221,694.63

295,581.93

17,888.92 14,284.77

19,983.21 11,250.30

$

40,611.00 $

17,984.44 $

11,209.78 $

4,990.45 $

11,378.46 $ 761,984.88 $

547,656.40

$

39,923.01 $

17,984.44

$ 76,649.15 $

24,032.62

$

1,096.32 $

1,175.26 $

1,022.88

40,324.52

24,993.52

5,283.73

3,132.16

5,461.24

166,588.14

165,949.79

4,829.73

683.03

4,894.54

12,065.66

4,726.89

19,540.26

39,923.01 $

17,984.44 $

11,209.78 $

4,990.45 $

11,378.46 $ 315,147.73 $

219,702.82

$

687.99

$

687.99

0.00 $

$

687.99 $

0.00 $ 0.00 $

0.00 $ 0.00 $

0.00 $ 0.00 $

$

687.99

17,888.92 $ 14,284.77

$ 32,861.68 $

0.00

413,975.45

0.00 $ 446,837.13 $

19,983.21 11,250.30 31,233.51 296,720.07
327,953.58

$

40,611.00 $

17,984.44 $

11,209.78 $

4,990.45 $

11,378.46 $ 761,984.86 $

547,656.40

-21-

MERIWETHER COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
SPECIAL REVENUE FUND YEAR ENDED JUNE 30 1994

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 Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation
Capital Outlay Debt Service
Principal
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES
Capital Leases Openiting Transfers In
Total Other Financing Sources
Excess of Revenues and Other Financing Sources over (under) Expenditures
FUND BALANCE JULY 1
Food Inventory - Net Change In Period Donated Commodities Purchased Food

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

ELEMENTARY AND

CHAPTER 1

EDUCATION OF

EDUCATION OF

CHILDREN IN

DEPRIVED

STATE SCHOOLS

CHILDREN

$

93,954.00 $

1,143,992.28

253,097.44

491,484.06 $

$ 1.491,043.72 $ 491,484.06 $

1,008.00 $ 1,008.00 $

818,507.69 818,507.69

$ 410,971.35 $
30,714.58 1,423.11
506.84 37,307.15
5,056.03

$ 1,373,788.34

5,505.00

1,373,788.34 $ 491,484.06 $

$ 117,255.38 $

0.00 $

$ 117,255.38 $ 327,953.58
-2,094.29 3,034.47

0.00 $ 0.00

1,008.00 $

850,009.81
37,488.73 43,120.88
75,702.15
1,876.40 30,332.00
27,190.54

1,008.00 $ 0.00 $

73,239.34 1,138,959.85 -320,452.16

$

320,452.16

$

320.452.16

0.00 $ 0.00

0.00 0.00

FUND BALANCE JUNE 30

$ 446.149.14 $

0.00 $

0.00 $

0.00

See notes to the general purpose financial statements.

-22-

EXHIBIT"F"

SECONDARY EDUCATION ACT

TITLE II

EISENHOWER

CHAPTER2

MATHEMATICS

BLOCK GRANT AND SCIENCE

FLOW THROUGH EDUCATION

INDIVIDUALS WITH

DISABILITIES EDUCATION ACT

TITLEVI, B

FLOW

PRESCHOOL

THROUGH

PROGRAM

JOB TRAINING PARTNERSHIP
ACT

TOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993

$

585,438.06 $

96,160.00

$

40,611.00 $

23,370.61 $ 155,712.27 $ 51,217.97 $

59,660.52

2,294,080.34

2,402,842.90

253,097.44

275,581.95

$

40,611.00 $

23,370:61

155,712.27 $ 51,217.97 $

59,660.52 $ 3,132,615.84 $ 2,774,584.85

$

32,857.91 $

60.00 $ 58,954.13 $ 31,503.56 $

61,314.49 $ 1,446,679.25 $ 1,056,963.02

6,970.03 95.07

23,276.30 34.31

65,502.75 3,356.11 1,302.36
20,608.99
2,783.40 612.53
2,592.00

7,122.41 12,592.00

140,828.47 78,146.43 1,302.36 96,947.36 37,307.15 4,659.80 36,000.56 15,184.00 27,190.54
1,373,788.34 5,505.00

40,803.15 57,768.46
755.24 56,846.51
3,603.86 56,475.77 31,281.72
1,299,977.23

73,239.34

$

39,923.01 $

23,370.61 $ 155,712.27 $ 51,217.97 $

61,314.49 $ 3,336,778.60 $ 2,604,474.96

$

687.99 $

0.00 $

0.00 $

0.00 $

-1,653.97 $

204,162.76 $

170,109.89

$ 1,653.97

320,452.16 1,653.97 $

2,117.33

$

1,653.97 $

322,106.13 $

2,117.33

$

687.99 $

0.00

s

687.99 S

0.00 $ 0.00

0.00 $ 0.00

0.00 $ 0.00

0.00 $

0.00 $

0.00 $

0.00 $ 0.00

117,943.37 $ 327,953.58

172,227.22 171,116.74

2,094.29 3,034.47

16,538.43 1,148.05

0.00 $

446,837.13 $

327,953.58

.23.

MERIWETHER COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET FIDUCIARY FUND TYPE JUNE 30 1994

EXHIBIT"G"

Cash and Cash Equivalents

EXPENDABLE TRUST FUNDS

SELF-INSURED

EMPLOYEE

BENEFIT FUND

BASKIN

UNEMPLOYMENT

ESTATE

COMPENSATION

FUND

FUND

TOTALS

JUNE 30 1994

JUNE 30 1993

$

2,060.52 $

6,733.90 $

8,794.42 $

19,276.92

FUND EQUITY
Fund Balances Unreserved Un designated

$

2,060.52 $

6,733.90 $

s ___ e,794.42

1_9_,2_1s_._92_

See notes to the general purpose financial statements.

-24-

MERIWETHER COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVfNUES EXPENDITURES AND CHANGES IN FUND BALANCES
FIDUCIARY FUND TYPE - EXPENDABLE TRUST FUNDS YEAR ENDED JUNE 30 1994

EXHIBIT"H"

BM.NJ.!E. Local and Other Funds
EXPENDITURES Cunent Other Operations of Non-ln&lructional Services
Exce$s of Revenues over (under) Expenditures FUND BALANCE JULY 1

BASKIN ESTATE
FUND

SELF-INSURED EMPLOYEE
BENEFIT FUND UNEMPLOYMENT COMPENSATION
FUND

TOTALS YEAR ENDED JUNE 30 1994 JUNE30 1993

$

0.00 $

0.00 $

0.00 $

2060.52

0.00 $

$

o.oo $

2060.52

10482.50 $ -10,482.50 $ 17 216.40

10482.50 $ -10,482.50 $ 19276.92

6085.88 "4,025.36 23302.28

FUND BALANCE JUNE 30

$

2,060.52 $

6733.90 $

8794.42 $

19,276.92

See notes to the general purpose financial statements.

-25-

Mi;BIWETl::ti;;B "QUNTY aQABQ QE EQ!.!~AIIQti SQl::t~QULE QE EEQEBAL Flt:16ti~16L 6SSISI6t:IQE
YEAR ENDED JUNE 30 1994

SCHEDULE "1"

FUNDING AGENCY PROGRAM/GRANT

CFDA NUMBER

AWARDS IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

Agriculture, U. S. Depart,-rt of Through Georgia Department of Education Food and Nutrition Program
Child and Adult care Food Program
1994 Grant Food Services
School Br...- Program 1993 Grant 1994Grant
National School Lunch Program 1993 Grant 1994Grant
Food Distribution Program (1)

10.558 $

33.59 $

10.553 10.553
10.555 10.555 10.550

291,708.15
765,882.38 86368.16

33.59 $

33.59

(2)

41,021.04 287,801.41
125,773.14 757,609.41 NIA

291,708.15

(2)

765,882.38 $ 86,368.16

1,287,420.18 (3) 86368.16

Tolal U. S. Department of Agriculture

$ 1 143 992.28 $

1 212 238.59 $ 1 143 992.28 $ 1373786.34

Education, U. S. Department of Through Georgia Department of Education Elementary and Secondary Education Act Chapter 1 Education of Children in State Schools 1993 Regular
1993 carry..o-
1994Ragular Education of Deprived Children
1993 Regular 1993 Cany..01994 Regular Chapter 2 Block Grant Flow Through 1994 Regular Tltlell ElsenhaNer Mathematics and Science Education
1993 Regular 1994 Regular Individuals with Disabilities Education Act Tltle VI, B Flow Through 1993Ragular 1993 carry-Over 1994 Regular Preschool Program 1992 carry-Over 1993 Regular
1993 carry.over
1994 Regular Vocational Education Basic Grants to States
High School Program Basic Grant 1994 Grant Tech-Prep Education 1994Grant
Tolal U. S. Department of Education

84.009
s 84.009
84.009

$ 1,008.00 3,540.00

84.010 84.010 84.010

58,794.00 791,954.00

84.151

"40,611.00

84.164 84.164

21,139.00

84.027 84.027 84.027
84.173 84.173 84.173 84.173

45,542.00 168,542.00
37,261.00 53,502.00

84.048

47,654.49

84.243

35000.00

$ 1 304 547.49 $

548.27 1,008.00 $

1,008.00 $

1,008.00

95,881.-40 43,847.91 680,806.32

43,847.91 TT4,659.78

43,847.91 TT4,659.78 (5)

40,611.00

39,923.01

20,112.00

5,386.17 17,984.44

5,386.17 17,984.44

8,655.51 45,542.00 115,000.00
5,4-40.00 -4,482.-40 37,261.00 14,640.00

45,542.00 110,170.27
37,223.13 13,994.84

45,542.00 110,170.27
37,223.13 13,994.84

31,617.00

47,654.49

14TT6.00

35000.00

s 1110653.01

1173082.03 $

(4) (4) 1 089739.55

- 26 -

MERIWETHER CQUNIY BQARO OF EDUCATION SCHEDULE QF FEDERAL FINANCIAL ASSISTANCE
YEAR fNDED JUNE 30 1994

SCHEDULE "1"

FUNDING AGENCY
PROGRAM/GRANT
Labor, U. S. Department of Through Griffin Regional Educational Agency Job Training Partnership Act 1993 Youth Competency Program 1993 Summer Program 1994 Youth Competency Program
Total U. S. Department of Labor

CFDA ~

AWARDS IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

17.250 17.250 $ 17.250
$

$ 13,160.00 86 803.58
99963.58 $

3,292.25 13,520.00 $ 40 822.72
57634.97 $

13,160.00 $ 46500.52
59660.52 $

14,813.97 (3) 46 500.52
61314.49

Qil:tEB EEQEBAI ASSISIA~CE

Co,poration for National Se<vice

Through Georgia Department of Education

Serve America Program

1994 Grant

94.011 $

14054.17 $

14054.17 $

14054.17

(4)

Total Federal Financial Assistance

$ 2 562 557.52 $

2 394 580.74 $ 2 390 789.00 $ 2524842.38

Major Programs are identiflOd by an asterisk (") in front of the CFDA number.

(1) The IIITl0Ul'lls shown for the Food Oislribution Program represents the Federally assigned value of nonmonetary
. . - n e e for donated commodities received and/or consumed by the system during the current f,scal year.
(2) E>cpendltures for the Child and Adult Care Food Program and the School Breakfast Program were not maintained separately and are included in the 1994 National School Lunch Program.
(3) E>cpendltures for this program include state, and/or Local and Other Funds. E>cpendltures are not maintained by fund source.
(4) E>cpendltures oo this program were not maintained by fund source. (5) E>cpendltures for this program do not include $320,452.16 related to the inception of a capltal lease.

See notes to the general purpose financial statements.

- 27 -

MERIWETHER COUNTY BOARD OF EDUCATION ANALYSIS OF CASH AND CASH EQUIVALENTS
JUNE 30 1994
INTEREST BEARING ACCOUNTS
Columbus Bank and Trust Company, Columbus, Georgia
N.O.W. Accounts (2.65%)

SCHEDULE "2" $ 349,195.50

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

MERIWETHER COUNTY BOARD OF EDUCATION INVESTMENTS JUNE 30 1994
INVESTMENT POOL Office of Treasury and Fiscal Services Local Government Investment Pool (4.237%)

SCHEDULE 3 $ 370,028.46

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

MERIWETHER COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30 1994

SCHEDULE 4

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

Education, Georgia Department of

Food Services

School Breakfast Program

National School Lunch Program

Vocational Education

State Funds

$

Federal Funds

Lottery Programs

Media Center and Library Equipment

Safe Schools Grant

Federal Programs

ESEA - Chapter 1

Education of Deprived Children

ESEA - Chapter 2

Block Grant - Flow Through

ESEA-Title II

Eisenhower Mathematics and Science Education

$
7,600.85 36,261.49

3,906.74 $ 8,272.97

3,906.74 8,272.97

7,600.85 36,261.49

4,666.50 42,187.18

4,666.50 42,187.18

93,853.46 40,611.00 17,984.44

93,853.46 40,611.00 17,984.44

Griffin Regional Educational Service Agency Job Training Partnership Act

10,212.34

10,212.34

Meriwether County Tax Commissioner County Wide School Tax

21,466.70

21,466.70

$

65,329.04 $

221,694.63 $ 287,023.67

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

MERIWETHER COUNTY BOARD OF EDUCATION CHEDULE OF STt,TE REVENUE YEt,R ENDED JUNE 30 1994

SCHEDULE 5

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 PupU Transportation Regular Bus Replacement Special Instructional Assistance In-School Suspension Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Mentor Teacher Program Supervision and Assessment of Student and Beginning Teachers and PerformanceBased Certification Lottery Programs Algebra Classrooms Computers in Classrooms Distant Leaming Media Center and Library Equipment Pre-Kindergarten Program Safe Schools Grant Georgia Public Telecommunications Commission Lottery Program Distant Leaming
OTHER Education, Georgia Department of Student Information System Project

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

$

6,857,954.00

1,377,711.00

282,528.00

295,762.00

102,187.00

2,095,475.00

586,541.00 167,884.00 357,009.03
98,870.00 -1,240,398.00 1,043,235.00
$ 16,789.58

6,720.00

$ 6,857,954.00 1,377,711.00 282,528.00 295,762.00 102,187.00 2,095,475.00

93,954.00

586,541.00 167,884.00 357,009.03
98,870.00 -1,240,398.00 1,043,235.00
93,954.00 16,789.58

6,720.00

50.00

4,632.00 142,315.60
7,516.14 154,666.50 135,431.64
42,187.18

50.00
4,632.00 142,315.60
7,516.14 154,666.50 135;431.64 42,187.18

4,735.00

4,735.00

500.00

500.00

$ 12,048,817.61 $

585,438.06 $ 12,634,255.67

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

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

SCHEDULE "6"

Taxes County Wide School Tax Railroad Car Tax Real Estate Transfer Tax
Other Compensation for Loss of Assets Donations Indirect Cost Special Revenue Fund Interest Earned Sales Breakfast and Lunches School Assets Tuition Other

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

$ 3,793,389.57 489.34
13,343.42

$ 3,793,389.57 489.34
13,343.42

2,985.58 2,278.00
15,076.00 14,922.02 $
3,293.00 3,857.57 39,365.43

8,410.95 241,802.50
2,883.99

2,985.58 2,278.00
15,076.00 23,332.97
241,802.50 3,293.00 3,857.57
42,249.42

$ 3,888,999.93 $ 253,097.44 $ 4,142,097.37

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

MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30 1994

SCHEDULE '7"

GENERAL FUND

SPECIAL REVENUE
FUND

TOTAL

EXPENDITURES

Operating Costs

Salaries

$ 10,815,132.22 $ 1,197,270.54 $ 12,012,402.76

Employee Benefits

2,302,935.22

254,352.62

2,557,287.84

Travel of Employees

47,612.32

19,020.34

66,632.66

Professional and Technical Services

89,353.31

83,696.70

173,050.01

Compensation and Travel of Board Members

6,548.58

6,548.58

Water, Sewer and Cleaning Services

57,016.39

1,200.00

58,216.39

Repair and Maintenance Services

3,280.55

12,011.18

15,291.73

Rents

109,145.82

120.00

109,265.82

Property Services

1,180.00

1,180.00

Insurance

74,882.00

74,882.00

Communications

35,936.47

12,874.86

48,811.33

Commodity Hauling

6,202.56

6,202.56

other Purchased Services

27,289.14

46,101.90

73,391.04

Supplies

508,763.21

261,703.88

770,467.09

Energy

669,958.60

16,096.05

686,054.65

Food Usage

610,610.70

610,610.70

Books, Textbooks and Periodicals

223,839.63

21,786.41

245,626.04

Dues and Fees

71,717.38

8,337.16

80,054.54

Interest Expense

15,503.77

15,503.77

Federal Indirect Costs

15,076.00

15,076.00

other Expenditures

3,987.50

2,818.02

6,805.52

Nonoperating costs Debt Service Building and Building Improvements Equipment

180,285.66 36,884.00 560,676.47

73,239.34 694,260.34

253,525.00 36,884.00
1,254,936.81

Total Expenditures

$ 15,841,928.24 $ 3,336,778.60 $ 19,178,706.84

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

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

EXPENDITURES
Operating Cos1s Salaries Employee Benefits Travel of Employees Professional and Technical Services Repair and Maintenance Services Communications Supplies Books, Textbooks and Periodicals Other ExpendibJres
Nonoperating Cos1s Equipment
Total ExpendibJres

ALGEBRA CLASSROOMS

COMPUTERS IN
CLASSROOMS

DISTANT LEARNING

$

39.00

$

339.19

4,593.00 $

21,901.57

3,004.95

120,414.03

4,172.00

$

4632.00 $

142,315.60 $

7516.14

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

SCHEDULE "8"

MEDIA CENTER AND
LIBRARY EQUIPMENT

PRE-KINDERGARTEN PROGRAM

SAFE SCHOOLS
GRANT

G.P.T.C. DISTANT LEARNING

TOTAL

$

$

25,878.66

30,641.24 96.58

98,050.02

$

154,666.50 $

56,720.76 12,506.45
1,67921 520.64
149.11 41,345.20 $
1,422.03 741.64
20,346.60

5,029.14 $ 37,158.04

$ 4,735.00

56,720.76 12,506.45
1,679.21 26,399.30
39.00 488.30 111,250.10 1,422.03 838.22

280,140.69

135431.64 $

42187.18 $

4 735.00 $

491,484.06

- 35 -

MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT
FIDUCIARY FUND TYPE - EXPENDABLE TRUST FUNDS YEAR ENDED JUNE 30 1994

SCHEDULE "9''

EXPENDITURES
Operating Costs Unemployment Claims

$ 10,482.50

See notes to the general purpose financial statements. - 36 -

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

SCHEDULE "10"

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

THIRTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

STAFF DEVELOP.MENT
PROGRAM

$

8,813,955.00 $

102,187.00

$

9,205,872.36

566,711.39 $

$

9,772,583.75 $

102,875.03 102,875.03

-106,788.63

$

9,665,795.12 $

-74,958.57 27,916.46

$

0.00 $

74 270.54

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

MER!WfJHsR WJNTV BOARD OF fpucA.TION ANALYS1SOF MINIMUM EXPfNPITURE REQUIREMENTS - RV PBOGRAM
GENERAL FUND - 9lJAI rrY RASIC FPUCATIQN PROGRAMS
VEAR ENDED JUNE 30 1994

GE~B&. ~Q QMFFB e~~~ eBQJ;zB&!1
Kinderga- (") Grades 1 -3 (")
Sul>-Tolal-K-3 Grades 4-5 (") Grades6-8(") Grades 9-12 (") High Schaol Labonltories (") Vocational Education Labonltories (")
Total General and e a - Education Programs SeECI&. EDUCATION f f i ~ ~
Regular Programs
Category Irl
-Category g (")
Category YI (") Category IV (") Supplemental Spooch
Sul>-Tolal - Regular Category V (Gfflod) (")
Tolal Spociol Education Programs
BE!l!EQ!& EDUCATION ffiOO~ r>
MEDIA CENTER PROORAMS
Total Thirteen Weighted and Media Center
STafE ~LQfMEtil PR~~
Costdlnslruc:tion Professional Davelcpment
Total Staff Development
(") Identifies Thirteen Weighted Programs. See notes to the general purpose financial statements.

ALLOTMENTS FROM DEPARTMENT OF EDUCATION

REQUIRED

TOTAL

ORIGINAL

~

ORIGINAL

MID-TERM

REQUIRED

720,948.00 1,757,618.00 2,478,566.00 90
895,114.00 90 1,532,025.00 90
268,582.00 90 1,128,580.00 90
555,087.00 90 6,857,954.00

648,85320 1,581,856.20 2,230,709.40
805,602.60 1,378,822.50
241,723.80 1,015,722.00
499,578.30 6,172,158.60

0.00 $

648,85320

1,581,856.20

0.00 $ 2,230,709.40

805,602.60

1,378,822.50

241,723.80

1,015,722.00

499,578.30

0.00 $ 6,172,158.60

1,329,730.00

1,196,757.00 $

0.00 $ 1,196,757.00

1,329,730.00 90 47,981.00 90
1,377,711.00 282,528.00 90 295,762.00 90

1,196,757.00 43,182.90
1,239,939.90 254,275.20 266,185.80

8,813,955.00

7,932,559.50 $

0.00 $
0.00 0.00 0.00

1,196,757.00 43,182.90
1,239,939.90 254,275.20 266,185.80

0.00 $ 7,932,559.50

22,914.00 100 79,273.00 100

22,914.00 79,273.00

102,187.00

102,187.00 $

8,916,142.00

8,034,746.50 $

0.00 $

22,914.00 79,273.00

0.00 $

102,187.00

0.00 $ 8,034,746.50

38.

REQUIRED ALLOTMENT

SALARIES ACTUAL

DISTRIBUTION BY RESPECTIVE PORTIONS

AMOUNTOF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

REQUIRED ALLOTMENT

OPERATIONS ACTUAL

AMOUNT OF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

632,413.80

703,243.23

16,439.40

16,995.54

1,533,213.90

1,735,527.57

48,642.30

52,519.26

2,165,627.70

2,438,770.80

0.00

65,081.70

88,514.80

0.00

781,551.90

966,288.79

0.00

24,050.70

55,795.21

0.00

1,338,966.90

1,506,749.85

0.00

39,855.60

58,152.87

0.00

231,349.50

244,342.n

0.00

10,374.30

46,252.70

0.00

sn,300.60

1,339,Sn.80

0.00

43,421.40

145,552.17

0.00

436,221.00

489,315.16

0.00

63,357.30

71,266.10

0.00

5,926,017.60

6,985,039.92

0.00

246,141.00

446,533.65

0.00

7,415.10 470,014.20 811,017.20 88,209.10

380,007.43 sn.1n.29 185,538.57

388.90 9,TT9.40 16,170.30 2,302.20 8,010.90 2,468.70

10,341.13 14,204.28 18,974.31

1,157,855.80

1,542,718.29

0.00

39,101.40

43,s1s.n

0.00

42,020.10

74,078.09

0.00

1,162.80

4,407.59

0.00

1,199,675.70

1,616,796.38

40,264.20

47,927.31

249,935.40

269,275.74

0.00

4,339.80

4,480.12

o.oo

206,977.50

334,760.32

0.00

59,208.30

87,790.31

o.oo

7,582,606.20 $ 9,205,Bn.36 $

0.00

349,953.30 $

566,711.39 $

0.00

7,582,606.20 s s,205,sn.36 s _ _ _ _..,.o_.oo._

22,914.00 79,273.00

97,Bn.57 5,002.46

0.00 74,270.54

102,187.00 $

s_ _ _ _ 102.s1s.03

1_4.,.2.10.,..54..,

452,140.30 $

s_ _ _ _ 669.586.42

1_4_.21_0,..5.4..

- 39 -

MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS
YEAR ENDED JUNE 30 1994

SCHEDULE "12"

BOARD MEMBER ADDRESS
Mr. Jerry F. Hicks, Chairman (") P. 0. Box 192 Woodbury, Georgia 30293
Mr. Joseph Alexander, Jr. (") Route 1, Box 1810 Gay, Georgia 30218
Mr. Thomas T. Jackson, Jr. (") 438 Parkman Drive Manchester, Georgia 31816
Mrs. Robin M. Mcinvale (") Route 1, Box 78-M Manchester, Georgia 31816
Mr. Earl H. Stokes, Jr.(") P.O. Box188 Greenville, Georgia 30222

COMPENSATION

TRAVEL

$

1,150.00 $

204.66

1,150.00

1,200.00

1,150.00

1,150.00

543.92

(") Denotes Board Members Serving as of June 30, 1994

$

5,800.00 $

748.58

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

SECTION II COMPLIANCE

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 30, 1995

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

94CRL-10

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

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

DEPARTMENT OF AUDITS
254 Washington Street. S.W., Suite 214 Atlanta, Georgia 30334-8400
June 30, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Meriwether 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 of the Meriwether County Board ofEducation as ofand for the year ended June 30, 1994, and have issued our report thereon dated June 30, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

We have applied procedures to test the Meriwether County Board of Education's compliance with the following requirements applicable to each ofits Federal financial assistance programs, which are listed in the Schedule of Federal Financial Assistance, for the year ended June 30, 1994:

(1) Political Activity

(5) Allowable Costs/Cost Principles

(2) Civil Rights

(6) Audit Follow-Up/Resolution

(3) Cash Management

(7) Administrative Requirements

(4) Federal Financial Reports

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

94CRL-50

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 of this report. With respect to items not tested, nothing came to our attention that caused us to believe that the Meriwether County Board ofEducation had not complied, in all material respects, with those requirements. However, the results of our procedures disclosed immaterial instances ofnoncompliance with those requirements, which are described in the Schedule ofFindings and Improper or Questioned Costs.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:cm 94CRL-50

C!AUDE L. VICKERS
STATE AUDITOR (404) 656-2174

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 30, 1995

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

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

Ladies and Gentlemen:

We have audited the general purpose financial statements of the Meriwether County Board ofEducation as ofand for the year ended June 30, 1994, and have issued our report thereon dated June 30, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

We have also audited the Meriwether County Board of Education's compliance with the requirements governing:

(1) Types of Services Allowed or Unallowed

(5) Applicable Special Tests and Provisions

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

(6) Other Requirement Claims for Advances and Reimbursements

(4) Reporting

These requirements are applicable to the major Federal financial assistance programs, which are identified in the Schedule of Federal Financial Assistance, for the year ended June 30, 1994. The management of the Meriwether County Board ofEducation is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit.

94CRL-80

We conducted our audit ofcompliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and Office 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 material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Meriwether County Board ofEducation's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the Meriwether County Board of Education complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance programs for the year ended June 30, 1994.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,

CLV:cm 94CRL-80

Claude L. Vickers State Auditor

CLAUDE L. VICKERS
STATE AUDITOR (404) 6562174

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 30, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Meriwether 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 Meriwether County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated June 30, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

In connection with our audit of the fiscal year 1994 general purpose financial statements of the Meriwether County Board of Education and with our consideration of the Board's internal control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (0MB) Circular A-128, "Audits of State and Local Governments", we selected certain transactions applicable to certain norunajor Federal financial assistance programs for the year ended June 30, 1994. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements governing:

(1) Types of Services Allowed or Unallowed

(2) Eligibility

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

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing

94CRL-120

came to our attention that caused us to believe that the Meriwether County Board of Education had not complied, in all material respects, with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~~
Claude L. Vickers State Auditor
CLV:cm 94CRL-120

SECTION III INTERNAL CONTROL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 30, 1995

Honorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board ofEducation
and Superintendent and Members ofthe Meriwether County Board ofEducation
REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements ofthe Meriwether County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated June 30, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
We conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standard~ 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.
In planning and performing our audit of the general purpose financial statements of the Meriwether County Board of Education for the year ended June 30, 1994, we considered the internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide assurance on the internal control structure.
The management ofthe Meriwether County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not
941CL-3

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

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

(I) Cash and Cash Equivalents (2) Investments (3) Inventories (4) Revenue/Receivables/Receipts (5) Procurement

(6) Expenditures/Liabilities/ Disbursements
(7) Employee Compensation (8) General Ledger
(9) General Fixed Assets

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

We noted certain matters involving the internal control structure and its operation that we consider to be reportable conditions under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements.

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

(1) Accounting Controls (Overall)

(2) General Ledger

(3) General Fixed Assets

A material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions.

Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that all of the reportable conditions disclosed above are also considered to be material weaknesses.

94ICL-3

These conditions were considered in determining the nature, timing, and extent of the procedures to be performed in our audit of the Meriwether County Board of Education's financial statements and this report does not affect our report thereon dated June 30, 1995.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted, ,
&~
Claude L. Vickers State Auditor
CLV:cm 94ICL-3

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 30, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Meriwether 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 Meriwether County Board ofEducation as ofand for the year ended June 30, 1994, and have issued our report thereon dated June 30, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We have also audited the Board's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated June 30, 1995.
We conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards issued by the Comptroller General of the United States; and the provisions of Office of Management and Budget (0MB) Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the Meriwether County Board ofEducation complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program.
In planning and performing our audit for the year ended June 30, 1994, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the Board's general purpose financial statements and on its compliance with requirements applicable to major Federal financial assistance programs and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated June 30, 1995.
94ICL-7

The management ofthe Meriwether County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives ofan internal control structure are to provide management with reasonable, but not absolute, assurance that, assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that Federal financial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection ofany evaluation ofthe 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) Audit Follow-Up/Resolution (7) Administrative Requirements

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

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

During the year ended June 30, 1994, the Meriwether County Board of Education expended 66% ofits total Federal financial assistance under major Federal financial assistance programs.

We performed tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements and specific requirements, as described above that are applicable to each of the Board's major Federal financial assistance programs, which

94ICL-7

are identified in the Schedule ofFederal Financial Assistance. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion.
We noted certain matters involving the internal control structure and its operatiori that we consider to be reportable conditions under standards-established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the Board's ability to administer Federal financial assistance programs in accordance with applicable laws and regulations.
As described in the Schedule ofFindings and Improper or Questioned Costs, reportable conditions were noted in the following control category:
Administrative Requirements
A material weakness is a reportable condition in which the design or operation ofone 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 conditions described 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 of the Meriwether County Board of Education's compliance with requirements applicable to its major Federal financial assistance programs for the year ended June 30, 1994, and this report does not affect our report thereon dated June 30, 1995.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
;;L~
Claude L. Vickers State Auditor
CLV:cm 94ICL-7

SECTIONN FINDINGS AND IMPROPER OR QUESTIONED COSTS

MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30 1994
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Finding Resolved Audit Control Number 6991-93-01
The audit report for the year ended June 30, 1991, stated that the Meriwether County Board ofEducation had an underexpenditure ofQuality Basic Education (QBE) funds of$174.54 for the Staff Development Program. For the year under review, adjustment was made to the Board's local fair share by the Georgia Department ofEducation to refund this underexpenditure as required.
AUDIT FOLLOW-UP/RESOLUTION Deficit Fund Balance Financial Statements Finding Resolved Audit Control Number 6991-93-03
The audit report for the year ended June 30, 1993, reported a $293,342.66 deficit in the General Fund. In the year under review, the deficit was funded and the Board ended the year with an unreserved, undesignated fund balance.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $17,906.12 Audit Control Number 6991-93-04
The audit report for the year ended June 30, 1993, disclosed that the Staff Development - Professional Development Program had an underexpenditure of Quality Basic Education (QBE) funds of $17,906.12 for the required minimum allotment. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department of Education to refund this underexpenditure as required. The underexpenditure of $17,906.12 should be returned to the Georgia Department of Education through an increase in the Board's local fair share for QBE programs in a subsequent fiscal year.

MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30 1994
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6991-93-02
The audit report for the year ended June 30, 1993, noted that the management of the Meriwether County Board ofEducation had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the 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
ACCOUNTING CONTROLS (OVERALL} - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation ofDuties Reportable Condition - Material Weakness Audit Control Number 6991-94-01
For the year under review, the Board did not provide for adequate separation of employee duties in the performance of accounting functions and related procedures. 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 ofintemal control with existing staff
Note: Federal financial assistance programs affected by this finding are as follows:
Food and Nutrition Program School Breakfast Program (CFDA 10.553) National School Lunch Program (CFDA 10.555) Food Distribution Program (CFDA 10.550)
ESEA - Chapter 1 Education of Children in State Schools (CFDA 84.009) Education of Deprived Children (CFDA 84.010)

MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEARENDEDJUNE30 1994
CURRENT YEAR
EXPENDITURES/LIABILITIES/DISBURSEMENTS Failure to Meet Expenditure Requirements Financial Statements Nonmaterial Noncompliance Amount: $74,270.54 Audit Control Number 6991-94-02
For the year under review, the Board reported to the Georgia Department of Education on DE Form 0420 "General Fund QBE Program Expenditure Summary" expenditures totaling $5,002.46 for the Staff Development - Professional Development Stipends Program which resulted in an underexpenditure of $75,270.54 for the minimum required allotment of $79,273.00. This questioned cost resulted from management's reliance on incorrect information received from the Georgia Department of Education, resulting in a violation of Official Code of Georgia 20-2-182. 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.
EXPENDITURES/LIABILITIES/DISBURSEMENTS Equipment Improperly Loaned or Unlocated Financial Statements Nonmaterial Noncompliance Audit Control Number 6991-94-03
For the year under review, an examination of lottery equipment records revealed that six computers and seventeen video cassette recorders were on loan to teachers or other Board personnel without appropriate authorization. The Meriwether County Board of Education's Policy Manual, Section EC-B, issued September 10, 1985 states, "No equipment shall be loaned without written authorization from the administrator in charge". This policy was not observed by Board personnel.
After extensive audit procedures were utilized to locate lottery equipment purchased by the Board, five items totaling $1,456.00 could not be located for observation and six items did not have the correct serial number or property number. This resulted from management's failure to adequately monitor these equipment items. The Board should implement procedures to ensure that all equipment is properly accounted for and maintained.

MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30 1994

CURRENT YEAR

GENERAL LEDGER - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Accounting Procedures Reportable Condition - Material Weakness Audit Control Number 6991-94-04

During the year ended June 30, 1994, the Board's accounting procedures were insufficient to provide for adequate internal control over the journal entry process. The following deficiencies were noted:

(1) Journal entries were not supported by either adequate documentation or descriptions.

(2) Journal entries were made to the accounting records without proper authorization.

These conditions were a result of management's failure to adequately monitor and document journal entries. These deficiencies in accounting procedures were discussed with the Superintendent. In addition, accounting personnel ofthe Board were given instructions in the proper accounting procedures for journal entries which include the necessity of all journal entries being properly approved and documented prior to entry into the accounting system.

FEDERAL FINANCIAL REPORTS Inadequate Financial Records Federal Financial Assistance Nonmaterial Noncompliance Amount: $687.99 Audit Control Number 6991-94-05

For the period under review, a comparison of the Board's project completion report for the Elementary and Secondary Education Act, Chapter 2 - 1994 Regular program (CFDA 84.151) to the accounting records revealed that the project completion report was not supported by total expenditures recorded for this program in the accounting records as indicated below:

Project

Actual

Completion

Federal

Report

Expenditures <Federaf Portion)

$ 32 923 OJ $ 40 61) 00

The instructions provided by the Georgia Department of Education and 34 CFR 80.20 mandates that financial management systems provide for accurate, complete and current disclosure of the financial results of each grant program. Procedures should be implemented to ensure that project completion reports are accurate and are verifiable to the accounting records. The unexpended grant balance of $687.99 should be refunded to the Georgia Department ofEducation.

MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30 1994
CURRENT YEAR
AUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Nonmaterial Noncompliance Audit Control Number 6991-94-06
The Board failed to submit a copy ofthe 1993 audit report to the Griffin Regional Educational Service Agency from whom the Board received Job Training Partnership Act funds. Paragraph 13fof 0MB Circular A-128 requires that the recipients of Federal financial assistance submit copies of single audit reports to those agencies providing Federal financial assistance. The Board claimed it was not aware of this requirement. Procedures should be implemented to ensure that reports are submitted to grantor agencies in accordance with audit distribution requirements.

SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS

.MERIWETHER COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS
YEAR ENDED JUNE 30 1994
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $17,906.12 Audit Control Number 6991-93-04
We concur with this finding. This finding will be resolved by Georgia Department of Education through an increase in the Board's local fair share portion of QBE Allotments.
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6991-93-02
We concur with this finding. Due to staffing limitations and budgetary considerations prohibiting the hiring of additional administrative staff the Board has decided not to pursue the recording of General Fixed Assets.
ACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation ofDuties Reportable Condition - Material Weakness Audit Control Number 6991-94-01
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 feels it has provided for the most appropriate assignment of duties with the number of personnel available to perform the accounting functions. With staff limitations, this finding can not be totally resolved.
EXPENDITURES/LIABILITIES/DISBURSEMENTS Failure to Meet Expenditure Requirements Financial Statements Nonmaterial Noncompliance Amount: $74,270.54 Audit Control Number 6991-94-02
We concur with this finding. This finding will be resolved by Georgia Department of Education through an increase in the Board's local fair share portion of QBE Allotments.

MERIWETHER COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS
YEAR ENDED JUNE 30 1994
EXPENDITURES/LIABILITIES/DISBURSEMENTS Equipment Improperly Loaned or Unlocated Financial Statements Nonmaterial Noncompliance Audit Control Number 6991-94-03
We concur with this finding. The individuals that are responsible for this Noncompliance were reminded of this Meriwether County Board ofEducation Policy. This will not reoccur in the future.
GENERAL LEDGER - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Accounting Procedures Reportable Condition - Material Weakness Audit Control Number 6991-94-04
We concur that additional improvement needs to be made in this area. We feel that the additional procedural enhancements we have implemented will correct this deficiency.
FEDERAL FINANCIAL REPORTS Inadequate Financial Records Federal Financial Assistance Nonmaterial Noncompliance Amount: $687.99 Audit Control Number 6991-94-05
We concur with this finding. The unexpended grant balance will be returned to the Georgia Department of Education.
AUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Nonmaterial Noncompliance Audit Control Number 6991-94-06
We concur that we did not comply with Paragraph 13fCircular A-128. Steps have been taken to prevent its reoccurrence in the future.