Meriwether County Board of Education, Greenville, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2000

STATE OF GEORGIA

DEPARTMENT OF AUDITS AND ACCOUNTS

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MERIWETHER COUNTY BOARD OF EDUCATION
GREENVILLE, GEORGIA
-
REPORT ON AUDIT OF THE FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
Russell W. Hinton State Auditor


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 EXPENDITURES OF FEDERAL AWARDS

EXHIBITS



GENERAL PURPOSE FINANCIAL STATEMENTS

COMBINED STATEMENTS - OVERVIEW

A

COMBINED BALANCE SHEET

ALL FUND TYPES AND ACCOUNT GROUP

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

C

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

(NON-GAAP BASIS)

GENERAL AND SPECIAL REVENUE FUNDS

D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

ADDIDONAL FINANCIAL INFORMATION


COMBINING STATEMENTS

SPECIAL REVENUE FUND

E

COMBINING BALANCE SHEET

F

COMBINING STATEMENT OF REVENUES, EXPENDITURES

.

AND CHANGES IN FUND BALANCES

CAPITAL PROJECTS FUND

G

COMBINING BALANCE SHEET

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

DEBT SERVICE FUND



I

COMBINING BALANCE SHEET

J

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

SCHEDULES
1 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 2 SCHEDULE OF STATE REVENUE 3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS

Page
2
4
6 7

20
22
24
26
28
29
30 32 33

MERIWETHER COUNTY BOARD OF EDUCATION -TABLE OF CONTENTS-

SECTION I

FINANCIAL

ADDIDONAL FINANCIAL INFORMATION

SCHEDULES

ANALYSIS OF ,.u, f.11.J1 EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

4

OVERALL

5

BYPROGRAM

Page
35 36

SECTION II
COMPLIANCE AND INTERNAL CONTROL REPORTS
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULAR A-133

SECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS
Y SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS

SECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS


SECTION I FINANCIAL


RussELL W. H1NTON
STATE AUDITOR (404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washingtl)tl Street, S.W.. Suite 214 Atlanta, Gel>rgia 30334-840()
May 21, 2001

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Meriwether County Board of Education
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Ladies and Gentlemen:
We have audited the accompanying general purpose financial statements ofthe Meriwether County Board of Education, as of and for the year ended June 30, 2000, as listed in the table of contents. These general purpose financial statements are the responsibility ofthe Meriwether County Board of Education's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States ofAmerica.and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States. Those standards require that we plan and perfo1n1 the audit to obtain reasonable assurance about whether the financial statements are free ofmaterial 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 op1 n1 on.
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:


2000ARL-l 3A
I

* The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles.
* School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To confor1n 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, 2000, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 2000. Also funds received, subsequent to June 30, 2000, from the Georgia Department of Education for the State's share of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1999, were improperly recorded in the year ended June 30, 2000. To confur1n 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 dett:r1nined, but are believed to be material.
In our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Meriwether County Board of Education as ofJune 30, 2000, and the results ofits operations for the year then ended, in confor1nity with accounting principles generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued our report dated May 21, 2001, on our consideration of the Meriwether County Board of Education's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit.
Our audit was perfur111ed for the purpose of fo1ming an opinion on the general purpose financial statements of the Meriwether County Board of Education taken as a whole. The accompanying combining statements (Exhibits E through J) and the financial schedules (Schedules 1 through 5), which includes the Schedule of Expenditures of Federal Awards as required by U. S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, are presented for purposes of additional.analysis and are not a required part of the general purpose financial statements. Such information has been subjected to the auditing procedures applied in the audit ofthe general purpose financial stateinents and in our opinion, except for the effects ofthe matters referred to in the third paragraph, such infor111ation is fairly stated, in all material respects, in relation to the general purpose financial statements taken as a whole.
2000ARL-13A

A copy ofthis report has been filed as a pe1111anent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code ofGeorgia Annotated Section 50-
6-24.
Respectfully submitted,

RWH:jb
2000ARL-13A

LO.
ell W. Hinton
State Auditor







MERIWETHER COUNTY BOARD OF EDUCATION




MERIWETHER COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 2000

ASSETS

Cash and Cash Equivalents

Investments

Accounts Receivable

Inventories Food

Donated Commodities



Purchased Food

Amount Available in Debt Service Fund

Amount to be Provided in Future Years For Payment of: Bond Debt Intergovernmental Contract Capital Lease Agreements

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

$ 1,001,172.08 $

387,560.92 $

1,269,945.31

6,170,337.95

485,962.35

405,764.96

45,586.42 16,047.84

Total Assets

$ 1,487,134.43 $ 854,960.14 $ 7,440,283.26

LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft Accounts Payable Salaries Payable Notes Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Capital Lease Agreements Contract - Meriwether County Public Facilities AuthorityGeneral Obligation Bonds Payable
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Bus Replacement Funds For Continuation of Federal Programs For Debt Service For Inventories Food Donated Commodities Purchased Food For Contract - Meriwether County Public Facilities Authority For Purpose of Bond Issue For State Capital Outlay Projects Unreserved Undesignated
Total Fund Equity

$

1,259.16 $


1,225,000.00

78,069.57 377,376.27
13,028.41 $

315,821.38 96,343.04


$ 1,226,259.16 $ 468,474.25 $ _ _4__1__2__.,.1._6__4___.4-"'2C....

$

9,287.22 .

$

46,799.15

251,588.05



$

260,875.27 $

45,586.42 16,047.84
$
278,052.48
386,485.89 $

7,009,730.65 5,340.40 13,047.79
0.00
7,028,118.84

Total Liabilities and Fund Equity

$ 1,487,134.43 $

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

-2-

854,960.14 $ 7,440,283.26

EXHIBIT "A"

DEBT SERVICE
FUND

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS

(Memorandum Only)

JUNE 30, 2000

JUNE 30, 1999

$ 2,658,678.31 $

838,846.09

$

692,399.66

6,862,737.61

4,558,259.09

277,936.61

1,169,663.92

1,288,718.75

45,586.42 16,047.84

$

711,038.05

_ 711,038.05

40,454.25 9,634.19
632,718.20

13,073,961.95 8,810,000.00
733,019.34

13,073,961.95 8,810,000.00 733,019.34

13,487,281.80 910,685.56

$

970,336.27 $

23,328,019.34 $ 34,080,733.44 $ 21,766,597.93

$

259,298.22

$

259,298.22 $

449,182.21

79,328.73

186,305.02

377,376.27

326,222.22

1,225,000.00

13,028.41

9,428.02

315,821.38

491,797.56

96,343.04

1,092,254.32

$

733,019.34

733,019.34

910,685.56

8,810,000.00

8,810,000.00

13,785,000.00

13,785,000.00

14,120,000.00

$

259,298.22 $

23,328,019.34 $ 25,694,215.39 $ 17,585,874.91

$

711,038.05

0.00 $ _ _.:..71:..:1...::,0:.::,38~.0~5::...

$

9,287.22 $

63,982.51

46,799.15

711,038.05

632,718.20

45,586.42 16,047.84 7,009,730.65
5,340.40 13,047.79

40,454.25 9,634.19
2,053,883.29 559,270.78

529,640.53

820,779.80

$ 8,386,518.05 $ 4,180,723.02

$

970,336.27 $

23,328,019.34 $ 34.080,733.44 $ 21,766,597.93

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MERIWETHER COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
YEAR ENDED JUNE 30, 2000

REVENUES
State Funds Federal Funds Taxes Other Funds
Total Revenues
EXPENDITURES
Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Operations
Capital Outlay Debt Service
Principal Interest Paying Agent Fees
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES {USES)
Proceeds from Contract - Meriwether County Public Facilities Authority
Capital Leases Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
FUND BALANCE JULY 1
Food Inventory - Net Change in Period Donated Commodities Purchased Food

GENERAL FUND

SPECIAL REVENUE
FUND

$ 17,957,591.93 $
5,267,427.02 517,071.00

1,220,999.25 3,767,266.66
195,515.95

$ 23,742,089.95 $ __5-,1_8_3-,7_8_1._86_

$ 15,090,886.71 $
835,405.60 524,975.79 560,545.26 673,332.75 1,856,076.67 346,904.57 1,755,692.19 1,481,810.92
55,738.56 163,055.88
234.17 14,392.87 128,793.81
229,142.37 44,286.15

2,282,054.78
403,539.78 307,778.65 177,267.87
111,502.73 81,451.18
68,561.62 1,853,920.91
1,188.00 30,339.85

$ 23,761,274.27 $ _...;5;;.i.,3;;..;1'-'--7.i.;;,6.;;.05==37'--

$

-19,184.32 $ _ _-1__3=3=,8=23=.;:;.,.51;....



$
$ _ _-_24...;.:2=,04.;;..;..:0=.3:;.;:6'-

81,816.00 14,196.78

$

-242,040.36 $ ____9_6_..._,0_1__2=--78;....

$

-261,224.68 $

522,099.95

037,810.73 412,750.80

5,132.17 6,413.65

FUND BALANCE JUNE 30

$

260,875.27 $ ___38_6.,,4_8_5..8..9....

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

EXHIBIT "B"

CAPITAL PROJECTS
FUND

DEBT SERVICE
FUND

TOTALS

(Memorandum Only)

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

$ 19,178,591.18 $ 21,700,416.46

3,767,266.66

3,333,520.21

$

363,869.17 $ 1,329,146.69

6,960,442.88

6,025,115.67

332,510.17

40,527.36

1,085,624.48

1,019,489.54

$

696,379.34 $ 1,369,674.05 $ 30,991,925.20 $ 32,078,541.88

$ 5,089,714.65 $
$ 5,089,714.65 $ $ -4,393,335.31 $

$ 17,372,941.49 $ 16,706,230.60

1,238,945.38 832,754.44 560,545.26 850,600.62
1,856,076.67 346,904.57
1,867,194.92 1,563,262.10
55,738.56 231,617.50 1,854, 155,08
14,392.87 5,219,696.46

1,281,746.15 685,530.78 560,995.30 787,775.49
2,059,328.39 159,292.27
1,500,237.94 1,666,487.19
57,311.22 281,136.43 1,695,311.32
14,611,705.38

335,000.00 1,036,162.69

594,482.22 1,080,448.84

544,373.50 839,389.29
544.20

1,371,162.69 $ 35,539,756.98 $ 43,437,395.45

-1 488.64 $ -4,547,831.78 $ -11,358,853.57

$ 8,580,609.25 $ 227,690.83
$ 8,808,300.08 $
$ 4,414,964.77 $ 2,613,154.07

79,655.74 $ 152.75
79,808.49 $

8,660,264.99 81,816.00 $
242,040.36 -242,040.36

434,883.78 162,571.25 -162,571.25

8,742,080.99 $ _ _4..;.;34:;..:.i.;:,8_8_=3.;..;78::;...

78,319.85 $ 632,718.20

4,194,249.21 $ -10,923,969.79

4,180,723.02

15,105,997.48

5,132.17 6 413.65

49.15 -1,353.82

$ 7,028,118.84 $

711,038.05 $ 8,386,518.05 $ 4,180,723.02

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MERIWETHER COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL - {NON-GAAP BASIS} GENERAL AND SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30. 2000

EXHIBIT c

REVENUES
State Funds Federal Funds Taxes Other Funds
Total Revenues

GENERAL FUND

ACTUAL

(BUDGET

BUDGET

BASIS)



$ 17,380,215.78 $ 17,957,591.93

6,021,835.00 126,246.00

5,267,427.02 517,071.00

$ 23,528,296.78 $ 23,742,089.95

EXPENDITURES
Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant
Student Transportation Services
Central Support Services Other Support Services Food Services Operation Community Services Operations Capital Outlay Debt Service
Total Expenditures



$ 14,918,420.02 $ 15,090,886.71

907,859.00 476,677.00 538,288.00 716,965.00 1,852,661.02 321,204.00 1,600,557.00 1,539,389.00
56,227.00 72,342.00
119,012.18

835,405.60 524,975.79 560,545.26 673,332.75 1,856,076.67 346,904.57 1,755,692.19
1,481,810.92
55,738.56
163,055.88
234.17
14,392.87 128,793.81
273,428.52

$ 23,119,601.22 $ 23,761,274.27

Excess of Revenues over (under) Expenditures

$

408,695.56 $ ----19:;.i.,1_84'-=.3""2'-

- OTHER FINANCING SOURCES {USES}
Other Sources Other Uses
Total Other Financing Sources (Uses)

$

75,000.00

______ $

$

75,000.00 $

-242,040.36 -242,040.36

Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $

483,695.56 $ -261,224.68

FUND BALANCE JULY 1. 1999
Adjustments Food Inventory - Net Change in Period
Donated Commodities Purchased Food

623,778.46 -282,900.97


522,099.95

SPECIAL REVENUE FUND

ACTUAL

(BUDGET

BUDGET

BASIS)

$

170,000.00 $ 1,220,999.25

1,735,000.00

3,767,266.66

211,200.00

195,515.95

$ 2,116,200.00 $ 5,183,781.86

$ 372,826.00 $ 2,282,054.78

335,372.00 95,880.00 35,000.00 1,000.00

403,539.78 307,778.65
177,267.87

3,300.00

111,502.73 81,451.18

59,225.00 2,115,528.71

68,561.62 1,853,920.91

1,188.00 30,339.85

$ 3,018,131.71 $ 5,317,605.37

$ -901,931.71 $ __-_.1.3.3."',~82"'3"".5=-1._



$

96,012.78

$ _____9.6..,.0.._1_2'--.7'-'8__

$ -901,931.71 $ 398,570.93 -51,954.48

-37,810.73 412,750.80
5,132.17 6 413.65

FUND BALANCE JUNE 30. 2000

$

$

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

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
REPORTING ENTITY
The Meriwether County Board ofEducation (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the Board is a primary government and consists of all the organizations that compose its legal entity.
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 ofpurchase. 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.
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 confo11n 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, Taxes and Other funds under control of the 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 educational activities. Governmental Fund Types include:
GENERAL FUND - the fund used to account for all financial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education.

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MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 received primarily from the Georgia Department of Education and from the Federal government to accomplish specific educational objectives.
CAPITAL PROJECTS FUND - the fund used to account for fmancial resources to be used for the acquisition or construction of major capital facilities.
DEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-ter1n principal, interest and paying agent fees.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for general obligation debt outstanding, intergovernmental contracts and capital lease obligations.
BASIS OF ACCOUNTING
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only curreat assets and current liabilities generally are included on the balance sheet. Operating statements ofthese 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-Te1n1 Debt Account Group.
Governmental funds are accounted for using the modified accrual basis ofaccounting under which:
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). ''Measurable'' means the amount of the transaction can be detc1n1ined 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 truces, local option sales taxes, intergovernmental grants and investment income.
Expenditures are generally recognized when the related fund liability is incurred.

-8-

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 of these contracts. During fiscal year 2000, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1999 and ending in early June 2000. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1999 and ending in August 2000. State grants to fund the State's share of these contracts were disbursed from the Georgia Department ofEducation to the Board in the same twelve months. As ofJune 30, 2000, compensation under these employment contracts had been earned, but two ofthe twelve monthly payments, due for July and August 2000, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 2000. Also, the State's portion ofthe compensation paid in July and August 2000 was received and recorded as revenue in the fiscal year subsequent to June 30, 2000. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1999, were recorded in the year ended June 30, 2000. 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 of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure ofthe budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles.
The budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval ofthis tentative budget by the Board, such budget is advertised at least once in a newspaper of general 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(c), to the Georgia Department of Education. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end.
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits in authorized fmancial institutions. Georgia Laws OCGA 45-8-14 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.

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MERIWEIBER COUNTY BOARD OF EDUCATION NOTES TO 1HE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 2000

EXHIBIT "D"

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Board in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase ofone year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following:
(1) Obligations issued by the State of Georgia or by other states,
(2) Obligations issued by the United States government,
(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,
(4) Obligations of any corporation ofthe United States government,
(5) Prime banker's acceptances,
(6) The Local Government Investment Pool administered by the State ofGeorgia, 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 on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from info1mation 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 Assessors did not set the tax digest for the 1999 tax year until April 2000, therefore the Meriwether County Board of Commissioners did not fix the property tax levy for that tax year(calendaryear) until May 5, 2000 (levy date). Taxes were due on July 5, 2000.
- 10 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The lien date for property taxes was January 1, 1999. Therefore, tax collections during fiscal year 2000 were based on the 1998 tax year digest. Taxes collected within the fiscal year 2000 or within 60 days after year-end are reported as revenue in these financial statements. The Meriwether County Tax Commissioner bills and collects the property taxes for the Board ofEducation, withholds 2.5% oftaxes collected as a fee for tax collection and remits. the balances oftaxes collected to the Board.

The tax: millage rate levied for the 1999 tax year (calendar year) for the Meriwether County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations

15.75 mills

SALES TAXES

Special Purpose Local Option Sales Tax is to be used for capital outlay for educational purposes and debt service. Special Purpose Local Option Sales Tax revenue during the fiscal year amounted to $1,689,422.87 and was recorded in the Capital Projects and Debt Service Funds. The State will te1minate collection of this tax once an additional $3,384,119.27 has been collected or on June 30, 2002, whichever occurs first.

INVENTORIES

FOOD INVENTORIES

Inventories of donated food commodities used in the preparation of meals are reported on the

Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported

on the Combined Balance Sheet at cost (first-in, fir-~t-out).

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 ofpurchase. 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 fiJ!ancial 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-Te1111 Debt Account Group as this liability is also deemed to be immaterial to the fair presentation ofthese financial statements.

- 11 -

MERIWETHER COUNfY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

GENERAL OBLIGATION BONDS

The Board issues general obligation bonds to provide funds for the acquisition and construction of

major capital facilities. Bond premiums and discounts, as well as issuance costs, are recognized in

the financial statements during the year bonds are issued. General obligation bonds are direct

obligations and pledge the full faith and credit ofthe government. The outstanding amount ofthese

bonds is recorded in the General Long-Te1m Debt Account Group.



INTERFUND TRANSACTIONS

The Board has the following types of interfund 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 ofoperations 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. Certain reclassifications have been made to the

comparative data to confo1n1 to the current year classifications.

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 ofmoney which has not
been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate ofthe face value of such surety bond and the market value of securities pledged shall be equal to not less than
110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance.
Ifa depository elects the pooled method (OCGA 45-8-13.1) the aggregate ofthe market value ofthe securities pledged to secure a pool ofpublic funds shall be not less than 110 percent ofthe daily pool balance. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion,
waive the requirement for security-in the case ofoperating funds placed in demand deposit checking
accounts.

- 12 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note 2: DEPOSITS AND INVESTMENTS

Acceptable security for deposits consists of any one of or any combination of the following:

( 1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,

(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,

(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,

(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia,

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

(6) Industrial revenue bonds and bonds ofdevelopment authorities created by the laws ofthe 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 ip.terest or debt obligations issued by the Federal

Land Bank, the Federal Home Loan Bank, the Federal Inte1n1ediate 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, 2000, the bank balances were $3,799,582.00. The amounts ofthe 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. (Thisincludes any bank balance that is collateralized
with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.)

The Board's deposits are classified by risk category at June 30, 2000, as follows:



- 13 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 2: DEPOSITS AND INVESTMENTS Risk Category

Bank Balance

1

$ 200,000.00

2

3,599,582.00

3

0.00

Total

$ 3,799,582.00

CATEGORIZATION OF INVESTMENTS At June 30, 2000, the carrying value of the Board's total investments was $6,862,737.61 which is materially the same as fair value. This investment consisted entirely of funds invested in the Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services which are not required to be categorized since the Board did not own any specific identifiable securities in the pool. The investment policy ofthe State ofGeorgia, Office ofTreasury and Fiscal Services for the Local Government Investment Pool (Primary Liquidity Portfolio) does not provide for investment in derivatives or similar investments. A description of the Primary Liquidity Portfolio is as follows:

The Primary Liquidity Portfolio consists of Georgia Fund 1, which is a combination local and state government investment pool, and Fund 6. Georgia Fund 1 is a stable net asset value investment pool
which follows Standard and Poor's criteria for AAAm rated money market funds. The pool is not
registered with the SEC as an investment company but does operate Georgia Fund 1 in a manner
consistent with Rule 2a-7 ofthe Investment Company Act of 1940 and is considered to be a Rule 2a7 like pool. The pool's primary objectives are safety of capjtal, investment income, liquidity and diversification while maintaining principal ($1.00 per share value). Net asset value is calculated weekly to ensure stability. The pool distributes earnings (net of management fees) on a monthly basis and values participant's shares sold and redeemed based on $1.00 per share. Pooled cash and cash equivalents and investments are reported at cost which approximates fair value. The peiol does not issue any legally binding guarantees to support the value ofthe shares. Participation in the pool is voluntary and deposits consist of funds from local governments; operating and trust funds of Georgia's state agencies, colleges and universities; and current operating funds of the State of
Georgia's General Fund.

Investments in Georgia Fund 1 and Fund 6 are directed toward short-tetm instruments such as U. S. Treasury obligations, securities issued or guaranteed as to principal and interest by the U. S. Government or any of its agencies or instrumentalities, banker's acceptances and repurchase agreements. The weighted average maturity of Georgia Fund 1 may not exceed 60 days. The weighted average maturity for Georgia Fund 1 on June 30, 2000, was 23 days. The average investment duration for Fund 6 on June 30, 2000, was .-80 year.

- 14 -

MERIWETIIER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note 3: NON-MONETARY TRANSACTIONS

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

Note 4: RISK MANAGEMENT

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

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

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

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

1999 2000

Beginning of Year Liability

Claims and Changes in Estimates

Claims Paid

End of Year Liability

$

0.00 $

6,820.00 $

6,820.00 $._ _ _-"o=.o=o

$

0.00 $

0.00 $

0.00 $._ _ _-"O=.O=O

The Board participates in the Georgia School Boards Association Workers' Compensation Fund, a public entity risk pool organized on July 1, 1992, to develop, implement, and administer a program of workers' compensation self-insurance for its member organizations. The Board pays an annual premium to the Fund for its general insurance coverage. Additional insurance coverage is provided through an agreement by the Fund with the United States Fidelity and Guaranty Company to provide coverage for potential losses sustained by the Fund in excess of$350,000.00 loss per occurrence, up to the statutory limit.

The Board has purchased surety bonds to provide additional insurance coverage as follows:

Position Covered

Amount

Superintendent All Other Employees

$ 50,000.00 $ 100,000.00

- 15 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note 5: GENERAL LONG-TERM DEBT

CAPITAL LEASES The Meriwether County Board ofEducation has entered into various lease agreements as lessee for portable classrooms, school buses, fuel tanks, computer equipment and HVAC lighting. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value of the future minimum lease payments as of the date of their inception.
'
INTERGOVERNMENTAL CONTRACT The Meriwether County Board entered into a contract with the Meriwether County Public Facilities Authority, dated October 1, 1999, for the financing of the construction of various school facilities. Under the te11ns ofthe contract, the Authority issued $8,810,000.00 (less discount and issuance costs of $229,390.75) in revenue bonds on behalf of the Board to finance the costs of acquiring, constructing, furnishing and equipping a new elementary school to be owned by the Board and the costs ofmaking renovations and modifications to existing schools owned by the Board. The Board has contractually agreed to make semi-annual payments, from April 1, 2000 through October 1, 2026, to the authority sufficient to retire principal and interest on the bonds. The obligation of the Board is absolute and unconditional so long as any of the bonds remain outstanding. Under the contract, the Board ofEducation agreed to levy an annual tax on all property within the boundaries of the Board, at such rates, within any limits prescribed by law, as may be necessary to make payments required by the contract.

GENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are-as follows:

Purpose

Interest Rates

Amount

General Government - Series 1996 -

3.65% - 7.00% $ 13.785.000.00

The changes in General Long-Te11n Debt during the fiscal year ended June 30, 2000, were as follows:

Balance July I, 1999
Retroactive Restatement of Prior Year Balances
Balance July I, 1999 Restated
Additions
Deductions
Balance June 30, 2000

Capital Leases

Intergovernmental Contract
Meriwether County Public Facilities Authority

General Obligation
Bonds

Total

$ 759,531.18 $

0.00 $14,120,000.00 $14,879,531.18

151,154.38

0.00

0.00

151,154.38

$ 910,685.56 $ 81,816.00
259,482.22
$ 733,019.34 $

0.00 $14,120,000.00 $15,030,685.56


8,810,000.00

8,891,816.00

335,000.00

594,482.22

8.8 I0,000,00 $I3,785,000.00 $23,328.019.34

- 16 -

MERIWETIIER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note 5: GENERAL LONG-TERM DEBT

At June 30, 2000, payments due by fiscal year which includes principal and interest for these items are as follows:

Fiscal Year Ended June 30

Intergovernmental

Contract

Meriwether County General



Capital

Public Facilities Obligation

Leases

Authority

Bonds

Total

2001 2002 2003 2004 2005 2006 - 2010 2011 - 2015 2016 - 2027

$ 242,033.70 $
167,344.72 68,162.88 68,162.88 51,038.88
281,157.96

586,035.00 $ 1,168,580.00 $ 1,996,648.70
608,910.00 1,210,835.00 1,987,089.72 609,035.00 1,254,910.00 1,932,107.88 608,360.00 1,295,447.50 1,971,970.38 607,330.00 1,329,847.50 1,988,216.38 3,230,730.00 6,807,297.50 10,319,185.46 3,537,040.00 7,010,537.50 I0,547,577.50 7,850,982.50 1,440,075.00 9,291,057.50

Total Principal and Interest

$ 877,901.02 $ I7,638,422.50 $21 ,5 I7,530.00 $40,033,853.52

Deduct: Imputed Interest
Net Present Value of Future Minimum Lease Payments

144,881.68
$ 733,019.34

Note 6: LOANS PAYABLE

At June 30, 2000, short-te11n debt (temporary loans) amount to $1,225,000.00 with interest accruing at 4.75 percent. Article IX, Section V, Paragraph V of the Constitution of the State of Georgia limits the aggregate amount of temporary loans to 75 percent of the total gross income from taxes collected in the preceding year and requires all temporary loans to be repaid no later than Dec-ember 31 of the calendar year in which the loan was made.

Note 7: ON-BEHALF PAYMENTS

The Board has recognized revenues and expenditures in the amount of $396,143.42 for health insurance and retirement contributions paid on the Board's behalfby the following State Agencies.

Georgia Department of Education Paid to the Georgia Department of Community Health
For Health Insurance of Non-Certified Personnel In the amount of$313,924.42

Office of Treasury and Fiscal Services Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost In the amount of $82,219.00



- 17 -

MERIWETHER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note 8: SIGNIFICANT COMMITMENTS

The following is an analysis ofsignificant outstanding construction or renovation contracts executed by the Board as of June 30, 2000, together with funding available:

Project

Unearned Executed Contracts

Funding Available From State

GSFIC 699-005

$6,102,747.25 $2,934,662.00

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

Note 9: 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 te1n1s. The Board believes that such disallowances, if any, will be immaterial to its overall financial position.

The Board is a defendant in a legal proceeding pertaining to matters incidental to the perfo11nance of routine Board operations. The ultimate disposition ofthis proceeding is not presently determinable, but is not believed to be material to the general purpose financial statements.

Note 10: ACCUMULATED EMPLOYEES' LEAVE

The Board's administrative staff and 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 ofpay to employe_es upon retirement or te1n1ination of employment. See Note 1 - Compensated Absences

Note 11: 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 ofGeorgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts.

- 18 -

MERIWE1HER COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO 1HE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 11: RETIREMENT PLANS

TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 11.29% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows:

Fiscal Year

Percentage Contributed

Required Contribution

2000 1999 1998

100% 100% 100%

$1,868,067.12 $ 1,889,996.34 $ 1,722,113.61

- 19 -

MERIWETHER COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 2000

ASSETS
Cash and Cash Equivalents
Accounts Receivable
Inventories Food Donated Commodities Purchased Food

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

$

366,744.62 $

131,620.74

6,047.32

12,977.58

45,586.42 16,047.84

Total Assets
LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable
-
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food Unreserved Un designated
Total Fund Equity

$


434,426.20 $ ===14..4..=,5=9.8...3..2. =

$

6,161.78 $

28,658.05

88,577.68

114,895.45

1,044.82

$

94,739.46 $ _ _.,:_14.:....;4..i.;:,5:.::,9=.;8.~32=-

$

45,586.42



16,047.84

278,052.48 $ _ _ _ _,:.:0.::.;00:::....

-

$

339,686.74 $ _ _ _ _.::.;0:.::,00=-

Total Liabilities and Fund Equity See notes to the general purpose financial statements.
- 20 -

$

434,426.20 $ ===144::i:::::!::,5=9=8.=32=




EXHIBIT "E"

FEDERAL PROGRAMS

TOTALS

JUNE 30, 2000

JUNE 30, 1999

$

498,365.36 $

595,408.67

$

386,740.06

405,764.96

291,618.64


45,586.42 16,047.84

40,454.25 9,634.19

$

386,740.06 $

965,764.58 $ ===93=7=,1=1=5.=75==

$

110,804.44 $

110,804.44 $

63,223.99

43,249.74

78,069.57

125,490.72

173,903.14

377,376.27

326,222.22

11,983.59

13,028.41

9,428.02

$

339,940.91 $

579,278.69 $ _ _5:::2:..:4.z.;:,3:.;:.64.:.:.:.:95:..

$

46,799.15 $

46,799.15

45,586.42 $ 16,047.84

40,454.25 9,634.19

0.00

278,052.48

362,662.36

$

46,799.15 $

386,485.89 $ _ _4..;_1=2=7,.;;;.5=0.;;;.80;;_

$

386,740.06 $

965,764.58 $ ===93=7=1,..1.=5=75=

- 21 -

MERIWETHER COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
SPECIAL REVENUE FUND
YEAR ENDED JUNE 30, 2000

REVENUES
State Funds Federal Funds Other Funds
Total Revenues
EXPENDITURES
Current Instruction Support Services Pupil Services Improvement of Instructional Services General Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services Food Services Operation
Capital Outlay Debt Service
Principal Payments
Total Expenditures
Excess of Revenues over (under) Expenditures
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) Expenditures and Other Financing Uses
FUND BALANCE JULY 1

Food Inventory - Net Change in Period Donated Commodities Purchased Food
FUND BALANCE JUNE 30
See notes to the general purpose financial statements.
-22-

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

$

137,344.00 $ 1,082,655.25

1,436,451.08

195,515.95

$ 1,769,311.03 $ __1'-'-,0=8=2=,6-=-55==25"-

$
$ 1,853,920.91

939,830.67
131,007.56 1,535.34
24,118.54 31,857.00
3,234.00 2,548.29

30,339.85

$ 1,853,920.91 $ 1,164,471.25

$

-84,609.88 $ _ _...;;-8;..;.1""",8..;..16=.o=o"-

$

81,816.00

$ ____8"""'1""",8.;.16;.;.o.;..;oc..

$

-84,609.88 $

0.00

412,750.80

0.00

5,132.17 6,413.65

$

339,686.74 $

0.00

EXHIBIT "F"

FEDERAL PROGRAMS

TOTALS YEAR ENDED JUNE 30, 2000 JUNE 30, 1999

$

1,000.00 $ 1,220,999.25 $ 1,165,121.75

2,330,815.58

3,767,266.66

3,333,520.21

195,515.95 , _ ____;1..:,.67;..r.,"""16=9'-'-.4.;;_0

$ 2,331,815~58 $ 5,183,781.86 $ 4,665,811.36

$ 1,342,224.11 $ 2,282,054.78 $ 2,011,289.08

272,532.22 306,243.31 153,149.33 79,645.73 78,217.18 66,013.33
1,188.00

403,539.78 307,778.65 177,267.87 111,502.73 81,451.18 68,561.62 1,853,920.91
1,188.00

427,832.41 180,627.49 195,940.63
4,780.43 3,375.91 93,831.76 1,680,416.47 43,002.00

30,339.85 '
$ 2,299,213.21 $ 5,317,605.37 $ 4,641,096.18

$

32,602.37 $

-133,823.51 $ _ __:2:..:4.z.7:.,..:..15::..:.:18~

$

81,816.00

$

14,196.78

14,196.78 $

55,571.25

-107,000.00

$

14,196.78 $

96,012.78 $ ---=-5:..:.1.z..:,4=28::.:,.7.:..:5:...

$

46,799.15 $

-37,810.73 $

-26,713.57

0.00

412,750.80

440,769.04

5,132.17 6,413.65

49.15 -1,353.82


$

46,799.15 $

386,485.89 $ =====4=12_.7=5=0=.8.0....

-23-

MERIWETHER COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30, 2000

ASSETS Cash and Cash Equivalents Investments Accounts Receivable

INTERGOVERNMENTAL CONTRACT
MERIWETHER COUNTY
PUBLIC FACILITIES AUTHORITY

BOND PROCEEDS

$

881,137.70

6, 128,592.95 $

41,745.00



Total Assets

$

7,009,730.65 $ ===4=1=,7=4=5..0.0. ==

LIABILITIES AND FUND EQUITY

LIABILITIES

Cash Overdraft Contracts Payable Retainages Payable

Total Liabilities

FUND EQUITY

Fund Balances

Reserved -

For Contract - Meriwether County

Public Facilities Authority

$

For Purposes of Bond Issue

For State Capital Outlay Projects

Unreserved

Undesignated

Total Fund Equity

$

Total Liabilities and Fund Equity

$

$ _ _...;:3::.::6..L.,;,4~04..:.:.;:.;60~ $ _ _...;:3;..::;6i..:,4.;:.;04~.6=-:0::.....


7,009,730.65
$


5,340.40

0.00

0.00

7,009,730.65 $ ----=5~,3:..:.4=-:0:..:.;40=-

7,009,730.65 $ ===4=1:!::::,7::::::45==00=

See notes to the general purpose financial statements. - 24-

EXHIBIT "G"

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS

JUNE 30, 2000

JUNE 30, 1999

$

388,807.61 $

0.00 $ 1,269,945.31 $

310,003.25

6,170,337.95

3,760,830.89

481,167.68

$

388,807.61 $

0.00 $ 7,440,283.26 $

4,552,001.82

$

315,821.38

59,938.44

$ --=37;..:5;.,.;,7'--=5=9=.8=-2

$

354,795.87

$

315,821.38

491,797.56

96,343.04

1,092,254.32

-

$

412,164.42 $

1,938,847.75



$

13,047.79

$ 7,009,730.65 5,340.40 $
13,047.79

2,053,883.29 559,270.78

0.00 $ _ _ _ _.:;.:0.=00=--

0.00

0.00

$

13,047.79 $

0.00 $ 7,028,118.84 $

2,613,154.07

$

388,807.61 $

0.00 $ 7,440,283.26 $

4,552,001.82

- 25 -

MERIWETHER COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND
YEAR ENDED JUNE 30, 2000

INTERGOVERNMENTAL CONTRACT
MERIWETHER COUNTY
PUBLIC FACILITIES AUTHORITY

BOND PROCEEDS

REVENUES
State Funds Taxes Other Funds
Total Revenues


$ $

EXPENDITURES

Capital Outlay

Land and Land Improvements

$

Building and Building Improvements

Equipment

Total Expenditures

$

Excess of Revenues over (under) Expenditures

$

OTHER FINANCING SOURCES (USES)

Proceeds from Contract - Meriwether County_

Public Facilities Authority

$

Operating Transfers In

Operating Transfers Out

Total Other Financing Sources (Uses)

$

Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $

FUND BALANCE JULY 1

0.00 $ _ _3=2::..;4.L.;;,0=0=5...;..14-'-0.00 $ _ _3.:;.;2:.;4.:.0;:.,..;..0::;.;5"...;..14-'--

63,148.90 $ 726,910.41 147,399.98

172,747.37 1,504,560.14
74,652.75

937,459.29 $ _ __:..1:.;7..;;;.5.;.:1.;;;.96.;;_0;_;;.2::;.;6;_

-937,459.29 $ -1,427,955.12

8,580,609.25

-633 419.31 $ ---=62=-=0;.i.;:,5;..;:;8.:..;7.;;;.77.;._

_ _ 7,947,189.94 $

-620,587.77 ..;..;;;;_;:.:.;;...;.__;_;_;__

7,009,730.65 $ 0.00

-2,048,542.89 2,053,883.29

FUND BALANCE JUNE 30

$

============ 7,009,730.65 $

5,340.40



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

EXHIBIT "H"

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

___ __ $

$

8.,..5._0_5.03

$

8,505.03 $

363,869.17 $ 363,869.17 $

$
363,869.17 332,510.17
696,379.34 $

3,256,590.67 701,224.21 578,958.04
4,536,772.92

$

239,967.13 $

1,107,226.20

33,515.01

$ 1,380,708.34 $

$ -1,372,203.31 $

111,984.16 $ 614,522.13 293,080.47
1,019,586.76 $
-655, 717 .59 $

587,847.56 $ 3,953,218.88
548,648.21
5,089,714.65 $
-4,393,335.31 $

566,097.69 13,369,031.26
287,865.32
14,222,994.27
-9,686,221.35

--

-



$ 8,580,609.25

$

825,980.32 $

655,717.59

1,481,697.91 $

304,615.86

-1,254,007.08

-197,615.86

$

825,980.32 $

655,717.59 $ 8,808,300.08 $ - - - -1-07',-00-0-.00-

$

-546,222.99 $

559,270.78

0.00 $ 0.00

4,414,964.77 $ 2,613,154.07

-9,579,221.35 12,192,375.42

$

13,047.79 $

0.00 $ 7,028,118.84 $

2,613,154.07

- 27 -

MERIWETHER COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET DEBT SERVICE FUND JUNE 30. 2000

EXHIBIT "I"

ASSETS Investments Accounts Receivable
Total Assets

PROPERTY TAXES FOR BOND DEBT

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS JUNE 30, 2000 JUNE 30, 1999

$

160,258.18 $

532,141.48 $

692,399.66 $

789,004.56

18.94

277,917.67

277,936.61

248,103.23

$

160,277.12 $

810,059.15 $

970,336.27 $ 1,037,107.79

LIABILITIES AND FUND EQUITY

LIABILITIES

Cash Overdraft

$

FUND EQUITY

Fund Balances

Reserved

For Debt Service

$

Unreserved

Undesignated

Total Fund Equity

$

.
87,807.64 $

171 490.58 $

259,298.22 $ _ __;_40~4=,3=8=9c.::;.59=-



72,469.48 $ 0.00
72,469.48 $

638,568.57 $ 0.00
638,568.57 $

711,038.05 $ 0.00
711,038.05 $

632,718.20 0.00
632,718.20

Total Liabilities and Fund Equity $

160,277.12 $

810,059.15 $

970,336.27 $ 1,037,107.79

See notes to the general purpose financial statements.

28-

MERIWETHER COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES
DEBT SERVICE FUND
YEAR ENDED JUNE 30. 2000

EXHIBIT "J"

PROPERTY TAXES FOR BOND DEBT

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS YEAR ENDED
JUNE 30, 2000 JUNE 30, 1999

REVENUES
Taxes Other Funds
Total Revenues

$

3,592.99 $

_ _......,3::;2:::;9-c:...7.:...1

$

3,922.70 $

1,325,553.70 $ 40 197.65
1,365,751.35 $

1,329,146.69 $ 40,527.36

878,041.82 25,024.69

1,369,674.05 $ _ ____,9.,.0~3,:::;06~6::;:,5:.:..1

EXPENDITURES
Debt Service Principal Interest Paying Agent Fees
Total Expenditures
Excess of Revenues over (under) Expenditures


$ $ $

$
295,146.39

335,000.00 $ 335,000.00 $

741,016.30

1,036, 162.69

295,146.39 $ 1,076,016.30 $ 1,371,162.69 $

-291,223.69 $ 289,735.05 $

-1 488.64 $

285,000.00 805,742.50
544.20
1,091,286.70
-188,220.19

OTHER FINANCING SOURCES (USES)

Proceeds From Contract- Meriwether County Public Facilities Authority
Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)

$

79,655.74

272,389.78

_____ $

$ 352,045.52 $

$
-272,237 .03

79,655.74 272,389.78 -272,237.03

-272,237.03 $ _ _7~9...,,8.,.0~8-;;:,:49::..

Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $
FUND BALANCE JULY 1

60,821.83 $ 11,647.65

17,498.02 $ 621,070.55

78,319.85 $ 632,718.20

-188,220.19 820,938.39

FUND BALANCE JUNE 30

$

72,469.48 $

638,568.57 $

111,038.05 $ _ .....6_3_21.1._1s_.2_0



See notes to the general purpose financial statements.

-29-

MERIWETHER COUNTY BOARD OF EDUCATION
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
YEAR ENDED JUNE 30. 2000

SCHEDULE "1"

FUNDING AGENCY PROGRAM/GRANT

CFDA NUMBER

PASSTHROUGH
ENTITY ID
NUMBER

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

Agriculture, U. S. Department of Child Nutrition Cluster Pass-Through From Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program National School Lunch Program
Total Child Nutrition Cluster

10.553 10.555

NIA $ NIA

379,850.40 947,217.11 $

$ 1,327,067.51 $

(2)
1,762,278.64 (3)
1,762,278.64

Other Programs Pass-Through From Georgia Department of Education Food and Nutrition Program Food Distribution Program (1) Pass-Through From Office of School Readiness Food and Nutrition Program Child and Adult Care Food Program
Total U. S. Department of Agriculture

10.550 10.558

NIA

91,642.27

91,642.27

NIA

17741.30

(2)

$ 1,436,451.08 $ ---'-'1'"'-85;;.;3.,9;.;;2;;;;.0.;;;;.9-'-1

Education, U. S. Department of Special Education Cluster Pass-Through From Georgia Department of Education Individuals with Disabilities Education Act Part B - Special Education Flow Through Preschool
Total Special Education Cluster

-

84.027 84.173

NIA $ NIA
$

396,590.83 $ 94,795.43
491,386.26 $

396,590.83 95,221.10 (3)
491,811.93

Other Programs



Pass-Through From Georgia Department of Education

Elementary and Secondary Education Act

Title I

-

Even Start Grants to Local Educational Agencies

Title II

Eisenhower Professional Development

84.213

-

84.010

84.281

Title VI Innovative Education Program Strategies

84.298

Class Size Reduction

84.340

Goals 2000
State and Local Education Systemic Improvement Grants Technology Literacy Challenge Fund Grants Safe and Drug-Free Schools and Communities

84.276 84.318 84.186

Vocational Education - Basic Grants to States

High School Program Basic Grant

84.048

Pass-Through From Office Of The Governor Title II Teacher Quality Enhancement Grants


84.336

Total U. S. Department of Education

NIA

365,232.53

369,888.40 (3)

NIA

1,028,687.80

1,029,084.42 (3)

NIA

27,035.00

12,438.69 (3)

NIA

37,996.95

37,996.95

NIA

141,298.00

141,298.00

NIA

17,900.74

20,018.67 (3)

NIA

3,030.79

3,030.79

NIA

102,933.78

102,933.78

NIA

60,953.04

68,482.89 (3)

NIA

32,132.00

$ 2,308,586.89 $

2,276,984.52

Labor, U. S. Department of Pass-Through From Georgia Department of Labor Job Training Partnership Act

17.250

NIA $

22,228.69 $ ___2;;;;;2.,2;;;;;2;;;;.8;.;;.6.;;.9

Total Federal Financial Assistance
NIA = Not Available

-30-

$ 3,767,266.66 $ 4,153,134.12

MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
YEAR ENDED JUNE 30. 2000
Notes to the Schedule of Expenditures of Federal Awards
(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year.
(2) Expenditures for the Child and Adult Care Food Program and the School Breakfast Program were not maintained
separately and are included in the 2000 National School Lunch Program.
(3) Expenditures for this program include State, and/or Other Funds. Expenditures are not maintained by fund source.
Major Programs are identified by an asterisk (*) in front of the CFDA number.
The Board did not provide Federal Assistance to any Subrecipient.
The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the Meriwether County Board of Education and is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the general purpose financial statements.
,.

SCHEDULE "1"




See notes to the general purpose financial statements.


31

MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE
YEAR ENDED JUNE 30, 2000

SCHEDULE "2"

AGENCY/FUNDING
GRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Middle School Incentive Program Special Instructional Assistance In-School Suspension Counselors Grades 4 and 5 Technology Specialist Local Five Mill Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Alternative Program Apprenticeship Program
At-Risk Summer School Program
Health Insurance Innovative Programs Mentor Teacher Program Preschool Handicapped Program Remedial Summer School Program
Year 2000 Project
Lottery Programs Computers in the Classroom Technology Installation
Community Affairs, Georgia Department of Local Assistance Grant
Human Resources, Georgia Department of Family Connection
Medical Assistance, Georgia Department of Family Connection
Office of School Readiness Pre-Kindergarten
Office of Treasury and Fiscal Services Public School Employees Retirement
Regents, State Board of Peachcare Program

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

$ 8,250,247.00
3,441,641.00 635,272.00 383,712.00 115,684.00
2,456,785.00
632,150.00 211,416.00 243,820.00 406,272.00 103,670.00
35,421.00 86,527.00 -1,474,486.00 1,527,326.00
$
44,419.46
144,457.00 2,000.00
28,547.99 313,924.42
4,721.77 11,340.08 55,189.00 10,030.21 23,661.50

18,750.00
77,056.22
77,070.41
82,219.00
8,747.87

$
137,344.00
102,380.90 13,110.00

8,250,247.00 3,441,641.00
635,272.00 383,712.00 115,684.00 2,456,785.00
632,150.00 211,416.00 243,820.00 406,272.00 103,670.00
35,421.00 86,527.00 -1,474,486.00 1,527,326.00 137,344.00 44,419.46
144,457.00 2,000.00
28,547.99 313,924.42
4,721.77 11,340.08 55,189.00 10,030.21 23,661.50
102,380.90 13,110.00

18,750.00

77,056.22

77,070.41

968,164.35

968,164.35

82,219.00

8,747.87

$ 17,957,591.93 $

See notes to the general purpose financial statements.

- 32-

1,220,999.25 $ 19,178,591.18

MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS
YEAR ENDED JUNE 30, 2000

SCHEDULE "3"

PROJECT

ORIGINAL ESTIMATED
COST (1)

CURRENT ESTIMATED COSTS (2)

AMOUNT EXPENDED IN CURRENT
YEAR (3)

AMOUNT EXPENDED
IN PRIOR YEARS

Providing for the retirement of 1998 through 2002 calendar year annual payments in the amount of $5,616,331.25 for the principal and interest on previously incurred general obligation bond debt issued in November, 1996

$

5,616,331.25 $

5,616,331.25 $

1,076,016.30 $

1,610,536.38

Additional construction costs related to the construction of a new North Elementary School, a new North High School, a new South Elementary School and equipping the facilities and certain repairs, equipping and renovations to existing facilities and paying the expenses incident thereto

2,383,668.75

29,754,649.09

5,332,732.15

20,944,649.09

$ 8,000,000.00 $ 35,370,980.34 $ 6,408,748.45 $ 22,555,185.47

(1) The Board's original cost estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax.
(2) The Board's current estimate of total cost of each project. Includes all cost from project inception to completion.
(3) The voters of Meriwether County approved the imposition of a 1% sales tax to fund the above projects and retire associated debt. Amounts expended for these projects may include sales tax proceeds, state, local property taxes and/or other funds over the life of the projects.

See notes to the general purpose financial statements.

33-

MERIWETHER COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 2000

SCHEDULE "4"

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

FOURTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

1OOo/o TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS

$

12,710,872.00 $ _ __;:;.;36:.:8;.._;7,...:4-=.;6:.:.0.:..0

$

13,581,486.23

731 ,051 .13 $ _ _ _6.:;_4.:.;:8:.!.6:,:.;:;3-=.;8:.:.60.:..

$

14,312,537.36

-154,862.74 $ _ _.:..14:..!.,1.:.:5;.:.7.l.,6;:;,.:_7~4:.::.62=-

$

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


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

MERIWETHER COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS BY PROGRAM
GENERAL FUND QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30. 2000

GENERAL AND CAREER EDUCATION PROGRAMS
Kindergarten (*)
Grades 1 3 (*) Sub-Total K-3
Grades 4 5 (*)
Grades 6 - 8 (*)
Grades 9 12 (*) High School Laboratories (*) Vocational Education Laboratories (*)
Total General and Career Education Programs
SPECIAL EDUCATION PROGRAMS
Regular Programs Category I (*) Category II (*) Category Ill (*) Category IV (*) Category V (*) Sub-Total Regular
Category VI (Gifted) (*) Total Special Education Programs
REMEDIAL EDUCATION PROGRAM {*l Total Fourteen Weighted Programs
MEDIA CENTER PROGRAMS
Salaries Operations
Total Media Center Programs

ALLOTMENTS FROM GEORGIA DEPARTMENT OF

REQUIRED

ORIGINAL

%

ORIGINAL

MID-TERM

$

978,166.00

$

880,349.40 $

0.00

2,336,226.00

2,102,603.40

$ 3,314,392.00 90 $ 2,982,952.80 $

0.00

1,056,649.00 90

950,984.10

1,758,186.00 90

1,582,367.40

880,339.00 90

792,305.10

659,601.00 90

593,640.90

581,080.00 90

522,972.00

$ 8,250,247.00

s_ _ _ $ 7,42s,222.3o

_.....;;o.;.;.o""""o

$ 3,355,230.00

$ 3,019,707.00 $

0.00

$ 3,355,230.00 90 $ 3,019,707.00 $

0.00

86,411.00 90

77,769.90

$ 3,441,641.00

s_ _ _ _
$ 3,097,476.90

"'"o.;,;;;o.:;..o

$

635,272.00 90 $

s_ _ _ _ 571,744.80

"'"o.;,;;;o.:;..o

$ 12,327,160.00

$ 11,094,444.00 $ _ _ __..;:;0.;.;;.0.:;..0

$

307,955.00 90 $

277,159.50 $

0.00

75,757.00 100

75,757.00

$

383,712.00

$

s_ _ _ _ 352,916.so

.;;.o;,;;;o.:;..o

Total Fourteen Weighted and Media Center Programs $ 12,710,872.00

======== $ 11,447,360.50 $

0.00

STAFF DEVELOPMENT PROGRAMS
Cost of Instruction Professional Development

$

37,452.00

$

37,452.00 $

0.00

78,232.00

78,232.00

0.00

Total Staff Development Programs (*) Identifies Fourteen Weighted Programs.

$

115,684.00 100 $

115,684.00 $

0.00

See notes to the general purpose financial statements.

36 -

SCHEDULE 5

EDUCATION TOTAL
REQUIRED

ACTUAL EXPENDITURES

SALARIES

OPERATIONS

TOTAL

AMOUNT OF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

$

880,349.40 $

1,088,212.45 $

28,115.89 $ 1,116,328.34

2,102,603.40

2,125,622.67

108,715.80

2,234,338.47

$ 2,982,952.80 $

3,213,835.12 $

136,831.69 $ 3,350,666.81 $

0.00

950,984.10

1,099,768.57

52,826.07

1,152,594.64

0.00

1,582,367.40

1,936,580.90

133,223.95

2,069,804.85

0.00

792,305.10

670,542.81

141,809.52

812,352.33

0.00

593,640.90

1,446,539.39

58,408.11

1,504,947.50

0.00

522,972.00

781,461.26

40,903.92

822,365.18

0.00

$ 7,425,222.30 $ 9,148,728.05 $

564,003.26 $ 9,712,731.31

$ 3,019,707.00
$

158.24 $ 1,120,795.79 1,720,321.71
262,947.22 205,390.19

1,327.27 $ 11,483.45 25,743.77
1,431.24 39,985.73

1,485.51 1,132,279.24 1,746,065.48
264,378.46 245,375.92

$ 3,019,707.00 $

3,309,613.15 $

79,971.46 $ 3,389,584.61

0.00

77,769.90

94,721.12

3,732.13

98,453.25

0.00

$ 3,097,476.90 $ 3,404,334.27 $

83,703.59 $ 3,488,037.86

$

571,744.80 $

$ 11,094,444.00 $

572,261.70 $ 13,125,324.02 $

931.75 $

573, 193.45

----''--"-'---"-'~

648,638.60 $ 13,773,962.62

0.00

$

277,159.50 $

456,162.21

$

456,162.21

0.00

75,757.00 - - - - - - $ _ _..;;;.82=_,4_1;.;;2.;.;;.5.;;.3

82,412.53

0.00

$

352,916.50 $

456,162.21 $

82,412.53 $ _ ___.;5_38_,_,5_7_4__7._4_

$ 11,447,360.50 $ 13,581,486.23 $

731,051.13 $ 14,312,537.36 $

0.00

$

37,452.00

78,232.00

$

115,684.00

$

111,942.98 $

111,942.98

7,021.08

7,021.08



$

118,964.06 $

118,964.06 $

------

0.00

- 37 -

SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS


RussELL W. HtNTON
STATE AUDITOR
(404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Wasl1ington Street. S.W.. Suite 214 Atlanta, Gctirgia 3()334-84()()
May 21, 2001

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Meriwether County Board of Education
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULARA-133
Ladies and Gentlemen:
Compliance
We have audited the compliance of Meriwether County Board of Education with the types of compliance requirements described in the U.S. OfficeofManagement and Budget (0MB) Circular A-133 Compliance Supplement that are applicable to each ofits major Federal programs for the year ended June 30, 2000. Meriwether County Board of Education's major Federal programs are identified in the accompanying Schedule ~fFindings and Questioned Costs. Compliance with the requirements of l.aws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility of Meriwether County Board of Education's management. Our responsibility is to express an opinion on Meriwether County Board ofEducation's compliance based on our audit.
We conducted our audit ofcompliance in accordance with auditing standards generally accepted in the United States ofAmerica; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States; and 0MB Circular Al 33, Audits of States, Local Governments, and Non"-Profit Organizations. Those standards and 0MB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types ofcompliance requirements referred to above that could have a direct and material effect on a major Federal program occurred. An audit includes examining, on a test basis, evidence about the Meriwether County Board ofEducation's compliance with those
requirements and perfo11ning such other procedures as we co!15idered necessary in the circumstances.

2000SA-10A

We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal dete1111ination on Meriwether County Board of Education's compliance with those requirements.
In our opinion, the Meriwether County Board of Education complied, in all material respects, with the requirements referred to above that are applicable to each of its major Federal programs for the year ended June 30, 2000.
Internal Control Over Compliance
The management of Meriwether County Board of Education is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts and grants applicable to Federal programs. In planning and perfo11ning our audit, we considered Meriwether County Board of Education's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to dete1n1ine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with 0MB Circular A-133 .

Our consideration ofthe internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a condition in which the design or operation ofone or more ofthe internal control components does not reduce to a relatively low level of risk that noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in relation to a major Federal program being audited may occur and not be detected within a timely period by employees in the no1mal course ofperfu1111ing their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses.
This report is intended solely for the info11nation and use of management, members of the Meriwether County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties.
Respectfully submitted,

RWH:jb 2000SA-10A

Russell W. Hinton State Auditor

RussELL W. H1NTON
STATE AUDITOR
(404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Wasf1ingl<Jr1 Street, S.W., Suite 214 Atlanta, Gec>rgia 30334-840()
May 21, 2001

Honorable Roy E. Barnes, Governor

Members of the General Assembly

Members of the State Board of Education

and

.

Superintendent and Members of the Meriwether County Board of Education

REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

Ladies and Gentlemen:

We have audited the financial statements ofMeriwether County Board ofEducation as ofand for the .

year ended June 30, 2000, and have issued our report thereon dated May 21, 2001. 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 auditing standards generally accepted in the United States of America and the standards

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audits contained the United States.

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Auditing

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Compliance

As part of obtaining reasonable assurance about whether Meriwether County Board ofEducation's
financial statements are free of material misstatement, we perfo1n1ed tests of its compliance with certain provisions oflaws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the dete11nination offinancial statement amounts. However, providing

an opinion on compliance with those provisions was not an objective ofour audit, and accordingly, we do not express such an opinion. The results ofOlli' tests disclosed no instances ofnoncompliance that are required to be reported under Government Auditing Standards.

Internal Control Over Financial Reporting

In planning and performing our audit, we considered Meriwether County Board of Education's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal

2000YB-40A

control over financial reporting. However, we noted a certain matter involving the internal control over financial reporting and its operation that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control over financial reporting that, in ourjudgment, could adversely affect Meriwether County Board ofEducation's ability to record, process, summarize and report financial data consistent with assertions ofmanagement in the financial statements. The reportable condition is described in the accompanying Schedule ofFindings and Questioned Costs as item FS-6991-0001.
A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the no1111al course of perfo1111ing their assigned functions. Our consideration ofthe internal control over financial reporting would not necessarily disclose all matters in the internal control that might be reportable conditions, and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, the reportable condition described above is also considered to be a material weakness.
This report is intended solely for the infotmation and use of management, members of the Meriwether County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties.
Respectfully submitted,


RWH:jb 2000YB-40A

Rus ell W. Hinton State Auditor


SECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS


MERIWETHER COUNTY BOARD OF EDUCATION AUDITEE'S RESPONSE
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2000

PRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS

FINDING CONTROL NUMBER AND STATUS

6991-96-01 FS-6991-98-01 FS-6991-98-02 FS-6991-99-01

Further Action Not Warranted Further Action Not Warranted . Further Action Not Warranted

Unresolved - See Corrective Action/Responses

CORRECTIVE ACTION/RESPONSES

GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number: FS-6991-99-01

We concur with these findings. Due to staffing limitations and budgetary considerations
prohibiting the hiring ofadditional administrative staffat this time, the Board has decided
not to pursue the recording of General Fixed Assets.
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SECTION IV FINDINGS AND QUESTIONED COSTS



MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED JUNE 30. 2000

I SUMMARY OF AUDITOR'S RESULTS

1. Type of Report Issued on the Financial Statements The auditor's opinion on the Meriwether County Board ofEducation's financial statements was qualified for various departures from generally accepted accounting principles.

2. Reportable Conditions in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the Meriwether County Board of Education disclosed a financial statement reportable condition related to the following control category.

General Fixed Assets

The reportable condition described above is considered to be a material weakness.

3. Noncompliance Material to the Financial Statements The audit of the Meriwether County Board of Education disclosed no instances of noncompliance that were deemed to be material_to the financial statements.

4. Reportable Conditions in Internal Control Over Major Programs The audit report for the Meriwether County Board of Education did not disclose any reportable conditions in internal control over major programs.

5. Type of Report Issued on Compliance for Major Programs

The auditor's opinion on the Meriwether County Board ofEducation's report on compliance

- with requirements applicable to major programs was unqualified.

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6. Audit Findings Required to be Reported by Section .510(a) ofOMB Circular A-133

The Meriwether County Board ofEducation's audit did not disclose audit findings required

to be reported by section .510(a) ofOMB Circular A-133.

7. Major Programs

Federal awards audited as major programs are as follows:

84.213 Elementary and Secondary Education Act-Title I- Even Start

84.010 Elementary and Secondary Education Act - Title I - Grants to Local Educational

Agencies

.

8. Type ''A'' Program Dollar Threshold The dollar threshold for type ''A'' programs was $300,000.00.

9. Low Risk Auditee



The Meriwether County Board of Education was audited as a low risk auditee based on a

waiver granted by the U. S. Department of Education.

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MERIWETHER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED JUNE 30, 2000
II FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition - Material Weakness Repeated From Prior Year Finding Control Number: FS-6991-00-01 The Meriwether County Board of Education did not maintain a system-wide General Fixed Assets Account within the fo11nal accounting records as required by generally accepted accounting principles. This condition results in the general purpose financial statement 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 ofa 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. ill FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported.
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