Monroe County Board of Education, Forsyth, 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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MONROE COUNTY BOARD OF EDUCATION
FORSYTH, GEORGIA REPORT ON AUDIT OF THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2000
Russell W. Hinton State Auditor

MONROE COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

Page

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

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

AND EXPENDABLE TRUST FUND

4

C

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

(NON-GAAP BASIS)

GENERAL AND SPECIAL REVENUE FUNDS

7

D

STATEMENT OF REVENUES, EXPENSES AND

CHANGES IN FUND BALANCE

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND

8

E

STATEMENT OF CASH FLOWS -

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND F NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

9




10

ADDffiONAL FINANCIAL INFORMATION

COMBINING AND INDIVIDUAL FUND STATEMENTS

SPECIAL REVENUE FUND

G

COMBINING BALANCE SHEET

22

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

24

CAPITAL PROJECTS FUND

I

COMBINING BALANCE SHEET

26

J

COMBINING .STATEMENT OF REVE-NUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

28

DEBT SERVICE FUND

K

COMBINING BALANCE SHEET

30

L

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

31

MONROE COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

EXHIBITS

COMBINING AND INDNIDtJAL FUND STATEMENTS

FIDUCIARY FUND TYPES

M

COMBINING BALANCE SHEET

N

STATEMENT OF CHANGES IN ASSETS AND LIABILITIES

AGENCY FUND

SCHEDULES

1 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS

2 SCHEDULE OF STATE REVENUE

3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS

ANALYSIS OF J.li'I '"'' EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

4

OVERALL

5

BYPROGRAM

Page
32 34 35
37
38 39
40

-

-

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 AUDI'I'ING STANDARDS

REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULARA-133

SECTION ID AUDl'IEB'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS
Y SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS

MONROE COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS SECTIONN
FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS
'


SECTION I FINANCIAL

RUSSELL W. HINTON
STATE AUDITOR
(404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
April 13, 2001

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Monroe 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 of the Monroe 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 of the Monroe County Board of Education's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit.

Except as discussed in the following paragraph, we conducted our audit in accordance with generally
accepted auditing standards 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 perfo11n 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 opinion.
We did not observe the taking of either the Federal donated commodities inventory or purchased
foods inventory at June 30, 2000, nor could we satisfy ourselves as to the accuracy of the amounts
stated as inventories through alternative procedures.

2000ARL-13


As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows:
* The general purpose financial statements of the Board did not contain a General Fixed
Assets Account Group to account for property and equipment owned by the Board which should be included to confu1m to generally accepted accounting principles.

* School activity accounts maintained at the individual schools are not included in the
general purpose financial statements. To confo1m 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 confo11n 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 dete11nined, but are believed to be material.

In our opinion, except for the effects of such adjustments, if any, on the Special Revenue Fund, as might have been dete1111ined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects on the general purpose financial statements ofthe 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 Monroe County Board of Education as of June 30, 2000, and the results of its operations and the cash flows ofits nonexpendable trust fund for the year then ended, in confo1mity with generally accepted accounting principles.

In accordance with Government Auditing Standards, we have also issued our report dated April 13,

2001, on our consideration of the Monroe 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 perfo11ned in accordance with

Government Auditing Standards and should be read in conjunction with this report in considering the

results of our audit.

-

2000ARL-13

Our audit was perfor111ed for the purpose of forming an opinion on the general purpose financial statements of the Monroe County Board of Education taken as a whole. The accompanying combining and individual fund statements (Exhibits G through N) and the financial schedules (Schedules 1 through 5), which includes the Schedule ofExpenditures ofFederal Awards as required
by U.S. Office of Management and Budget Circular A-133, Audits ofStates, Local Governments, and Non-Profit Organizations, are presented for purposes of additional analysis and are not a
required part ofthe general purpose financial statements. Such inforrnation has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and in our opinion, except for the effect of adjustments, if any, on the Special Revenue Fund, as might have been deterrnined to be necessary had we been able to satisfy ourselves as to the accuracy ofthe food service inventories as discussed in the third paragraph, and except for the effects of the matters

referred to in the fourth paragraph, such inforrnation is fairly stated, 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 pertnanent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code ofGeorgia Annotated Section 506-24.
,-----.....Respectfully submitted,

RWH:gp
2000ARL-13
--

ell W. Hinton State Auditor



--

MONROECOUNfYBOARDOFEDUCATION


MONROE 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 Debi Capital Lease Agreements

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

$ 568,863.63 $ 2,344,841.33

$ 3,255,665.52

490,140.52

197,975.11

193,064.78

716,250.38

31,567.89 12,032.95

Total Assets

$ 3,453,640.63 $ 1,295,669.77 $ --=-=3=,0=6=1=,0=91.,..7.,.1...,

LIABILITIES AND FUND EQUITY

LIABILITIES

Cash Overdraft Accounts Payable Salaries Payable Retainages Payable Funds Held for Others Capital Lease Agreements General Obligation Bonds Payable

$

168,990.52

48,895.12 $

78,596.67



246,991.86

$

171,362.20

Total Liabilities

$

217,885.64 $ 325,588.53 $ _ _1_7_1~,3~62_.2~0~

FUND EQUITY

Fund Balances Reserved For Bus Replacement Funds For Continuation of Federal Programs For Debt Service For Endowment Corpus For Expired Grant Balances/Questioned Costs ForSPLOST For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated

$

22,779.35

$

27,945.35

3,212,975.64

$ 2,741,869.03

31,567.89 12,032.95
898,535.05

147,860.48

Total Fund Equity


$ 3,235,754.99 $


970,081.24 $ 2,889,729.51

Total Liabilities and Fund Equity

$ 3,453,640.63 $ 1,295,669.77 $ ...,.,,.3..,,0..6.,..1_,0=91_.1..,1...

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

EXHIBIT "A"

DEBT SERVICE
FUND

FIDUCIARY FUND TYPES TRUST AND AGENCY FUNDS

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS

{Memorandum Only)

JUNE 30, 2000

JUNE 30, 1999

$

81,591.30 $

36,299.47

$ 3,031,595.73 $ 1,044,898.39

30,885.20

3,776,691.24

4,093,064.87

1,560.82

1,108,851.09

1,213,006.70

$

83,152.12

31,567.89 12,032.95
83,152.12

45,242.12 17,708.46
68,445.72

956,847.88 156,059.60

956,847.88 156,059.60

1,186,554.28 489,938.84

$

83,152.12 $

67 184.67 $

1,196,059.60 $ 9,156,798.50 $ 8,158,859.38

-

$

168,990.52

127,491.79 $

398,616.91

246,991.86

227,973.62

171,362.20

$

286.03

286.03

198.33

--

$

156,059.60

1,040,000.00

156,059.60 1,040,000.00

489,938.84 1,255,000.00

$

286.03 $

1,196,059.60 $ 1,911,182.00 $ 2,371,727.70

--

'

$

83,152.12

$

10,000.00

0.00

56,898.64

$

83I152.12 $ _ __;:6:.:::;6.;;J8"'-98;;;..;.;:;..64.;_

$

22,779.35 $

27,945.35

83,152.12

10,000.00

2,741,869.03

68,088.15 46,361.61 68,445.72 10,000.00 19,904.12 899,711.08

31,567.89 12,032.95

45,242.12 17,708.46

4,316,269.81

4,611,670.42

$ 7,245,616.50 $ 5,787,131.68

$

83,152.12 $

67 184.67 $

1,196,059.60 $ 9,156,798.50 $ 8,158,859.38

-3-

MONROE COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND 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

Capital Outlay

Debt Service

Principal

Interest

Paying Agent Fees

Total Expenditures

Excess of Revenues over (under) Expenditures

OTHER FINANCING SOURCES (USES)

Operating Transfers In Operating Transfers Out

Total Other Financing Sources (Uses)

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

FUND BALANCE JULY 1

Food Inventory- Net Change in Period Donated Commodities Purchased Food


GENERAL
FUND

GOVERNMENTAL FUND

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

$ 10.496,202.71 $ 874,345.36 $

4,928.52

1,608,969.80

9,635,578.61

348,647.36

552,706.24

$ 20,485,357.20 $ 3,036,021.40 $

505,325.00
3,571,390.25 32,218.12
4,108,933.37

$ 13,393,950.71 $ 1,531,063.22

686,758.51 450,579.87 378,784.55 591,234.51 1,312,665.33 209,937.43 1,830,639.21 1,231,601.00 317,126.03 105,188.41
1,754.94

87,919.90 26,435.14
19,971.99 20,042.22
$ 16,248.54
2,954.03
19,113.59 1,315,595.07

333,879.24 24,883.34

224.84 2,278,611.20

$ 20,868,983.08 $ 3,039,343.70 $

$ -383,625.88 $

-3,322.30 $

2,278,836.04 1,830,097.33

$ $ _ _-4.;..;;5.._0,4;..;.;.;0.a.05a..

$

-45,040.05 $

45,040.05 45,040.05

$ -428,665.93 $ 41,717.75 $

3,664,420.92

947,713.23

1,830,097.33 1,059,632.18

-13,674.23 -5,675.51

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

EXHIBIT "B"

TYPES
DEBT SERVICE
FUND

TOTAL

FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND

TOTALS
(Memorandum Only)
YEAR ENDED JUNE 301 2000 JUNE 30, 1999

$ 11,875,873.07

1,613,898.32

$ 261,837.96

13,468,806.82

1,579.22

935, 150.94 $

$ 263,417.18 $ 27,893,729.15 $

$ 11,875,873.07 $ 10,994,896.31

1,613,898.32

1,598,198.82

13,468,806.82

10,927,800.41

18,395.09

953,546.03

782,091.83

18,395.09 $ 27,912,124.24 $ 24,302,987.37

$ 14,925,013.93 $

0.00 $ 14,925,013.93 $ 13,865,100.48

774,678.41 477,015.01 378,784.55 611,206.50 1,332,707.55 210,162.27 1,846,887.75 1,234,555.03 317,126.03 124,302.00 1,315,595.07 2,280,366.14

774,678.41 477,015.01 378,784.55 611,206.50 1,332,707.55 210,162.27 1,846,887.75 1,234,555.03 317,126.03 124,302.00 1,315,595.07 2,280,366.14

688,876.21 509,298.40 369,488.41 545,671.54 1,225,052.47 185,765.90 1,805, 109.-15 1,221,631.78 262,010.56 117,040.29 1,288,792.56 203,957.90

$ 215,000.00 32,095.00 1,615.78

548,879.24 56,978.34 1,615.78

548,879.24 56,978.34 1,615.78

532,779.58 107,521.29
1,614.56

$ 248,710.78 $ 26,435,873.60 $ _ _ _.;:.0:.:.00:::... $ 26,435,873.60 $ 22,929,711.08

$ 14,706.40 $ 1,457,855.55 $

18,395.09 $ 1,476,250.64 $ 1,373,276.29

$

45,040.05

-45,040.05

$ _ _ _....,;;;o;.;;.oo;:;_

$

45,040.05 $

56,646.74

-45,040.05

-56,646.74

$

0.00 $ _ _ __,;;.:0.;.;;.00;:;_

$

14,706.40 $ 1,457,855.55 $

68,445.72

5,740,212.05

18,395.09 $ 1,476,250.64 $ 1,373,276.29

5,422.50

5,745,634.55

4,366,743.09

-13,674.23 -5,675.51

-13,674.23 -5,675.51

2,189.98 3,425.19

$

83,152.12 $ 7,178,717.86 $

231817.59 $ 7,202,535.45 $ 5,745,634.55

-5-

MONROE 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"

GENERAL FUND

ACTUAL

(BUDGET

BUDGET

BASIS}

REVENUES
State Funds Federal Funds Taxes Other Funds

Total Revenues
EXPENDITURES

$ 10,147,764.00 $ 10,496,202.71

5,700.00

4,928.52

9,466,436.00

9,635,578.61

144,500.00

348,647.36

$ 19,764,400.00 $ 20,485,357.20



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
Capital Outlay Debt Service
Total Expenditures
Excess of Revenues over (under) Expenditures

$ 13,369,127.00 $ 13,393,950.71

665,546.00 413,210.00 362,001.00 527,929.00 1,231,890.00 194,795.00 1,771,788.00 1,186,418.00 283,917.00 101,097.00

686,758.51 450,579.87 378,784.55 591,234.51 1,312,665.33 209,937.43 1,830,639.21 1,231,601.00 317,126.03 105,188.41

303,860.00

1,754.94 358,762.58

$ 20,411,578.00 $ 20,868,983.08 $ -647 178.00 $ -383,625.88

OTHER FINANCING SOURCES {USES)

Other Sources Other Uses

$ -124,448.00 $ _ ___;;-4;:.::5:.:,04=0-:::;05~

Total Oll)er Financing Sources (Uses) $ -124,448.00 $ _ _-4.:.:5:.:,04'-'-"'0.::::05~

Excess of Revenues and Other Financing Sources

over (under) Expenditures and Other Financing

Uses

$

-771,626.00 $

-428,665.93

FUND BALANCE JULY 1, 1999

3,562,450.70

3,664,420.92

Adjustments Food Inventory Net Change in Period
Donated Commodities Purchased Food

-1,269.34

FUND BALANCE JUNE 30, 2000

$ 2,789,555.36 $ 3,235,754.99

SPECIAL REVENUE FUND

ACTUAL

(BUDGET

BUDGET

BASIS}

$ 841,172.00 $ 874,345.36 1,634,395.00 1,608,969.80

545,071.00

552,706.24

$ 3,020,638.00 $ 3,036,021.40

$ 1,501,339.16 $ 1,531,063.22

86,337.00 47,331.00

87,919.90 26,435.14

17,610.00 20,876.00

19,971.99 20,042.22

16,673.00 539.00

16,248.54 2,954.03

21,958.00 1,422,685.00

19,113.59 1,315,595.07

$ 3,135,348.16 $ 3,039,343.70 $ -114 710.16 $ ---=3:.a.:,3:;::2::;2.;a,;30;....

$ 124,448.00 $ 45,040.05 $ 124,448.00 $ _ _4;:.::5:.:,04=0-~05~

$

9,737.84 $ 41,717.75

945,281.68

947,713.23

-28,946.21

-13,674.23 -5,675.51

$ 926,073.31 $ 970,081.24

The notes to the general purpose financial statements are an integral part of this statement.
. 7.

MONROE COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCE
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND
YEAR ENDED JUNE 30, 2000

EXHIBIT "D"

OPERATING REVENUES None Recorded
OPERATING EXPENSES None Recorded Operating Income
NONOPERATING REVENUES Interest Earned
FUND BALANCE JULY 1
FUND BALANCE JUNE 30

ENDOWMENT FUND
PERSONS MEMORIAL LIBRARY FUND

TOTALS

(Memorandum Only)

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

$

0.00 $

o.oo $ _ _ _ _"""'o.:.:a.oo=-

$

0.00 $

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

$

0.00 $

0.00 $

0.00

1,583.92 41 497.13

1,583.92 41 497.13

1,654.53 39,842.60

$

43,081.05 $

43,081.05 $-==-=4=1=4=9=7..1..3.....





'
The notes to the general purpose financial statements are an integral part of this statement.
-8-

MONROE COUNTY BOARD OF EDUCATION STATEMENT OF CASH FLOWS
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND
YEAR ENDED JUNE 30, 2000

EXHIBIT "E"

Cash Flows from Operating Activities:
Cash Flows from Investing Activities: Interest Received on Investments Net Proceeds from Purchase/Sale of Investments
Net Cash Provided by Investment Activities
Net Increase (Decrease) in Cash
Cash and Cash Equivalents - July 1

ENDOWMENT FUND
PERSONS MEMORIAL LIBRARY FUND

TOTALS

(Memorandum Only)

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

$

0.00 $

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



$

1,583.92 $
-1.384.02

1,583.92 $
-1.384.02

1,654.53 -1 .435.23

$

199.90 $

199.90 $ _ _ _..:;2;.;.19.;:;.;.;:;.30"'--

$

199.90 $

199.90 $

219.30

11.995.95

11.995.95

11 776.65

Cash and Cash Equivalents - June 30

$

12.195.85 $

11,995.95




The notes to the general purpose financial statements are an integral part of this statement.
-9-

MONROE COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
REPORTING ENTITY
The Monroe 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 aSuperintendent 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 ofall 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 confo11n 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.

- 10 -

MONROE COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE 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 financial resources to be used for the acquisition or construction of major capital facilities.
'
DEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-te11n principal, interest and paying agent fees.
FIDUCIARY FUND TYPES - the funds used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. These funds include:
NONEXPENDABLETRUSTFUND Persons Memorial Library Fund - the fund used to account for an endowment of which the corpus is to be invested and preserved intact with the resultant income to be used to purchase library books and materials.
EXPENDABLE TRUST FUND Mary Persons Scholarship Fund - the fund used to account for the principal and earnings which may be expended to provide scholarships for students who attend Mary Persons High School.
AGENCY FUND - the fund used to account for assets held in a fiduciary capacity for other funds, governments, or individuals.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for general obligation debt outstanding 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 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 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.

- 11 -

MONROE COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Liabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Tctm Debt Account Group.
All nonexpendable trust funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and liabilities associated with the operation ofthese funds are included on the balance sheet. Operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets.
Agency funds are purely custodial in nature and do not involve measurement ofresults ofoperations.
Governmental 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 of the transaction can be dete11nined 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, local option sales taxes, intergovernmental grants and investment income.
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 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.
The accrual basis ofaccounting, as required by generally accepted accounting principles, is utilized by nonexpendable trust funds. Under the accrual basis of accounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred.

- 12 -



MONROE COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Agency funds are accounted for using the modified accrual basis ofaccounting in recognizing assets and liabilities.
BUDGET

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

The budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval 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 financial 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.
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,

- 13 -

, - - - - - - - - - - - - - - - - ----

MONROE COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

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 of the 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 of grant 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 Monroe County Board of Commissioners fixed the property tax levy for the 1999 tax year (calendar year) on October 20, 1999 (levy date). Taxes were due on January 10, 2000 (due date). The lien date for property taxes was January 1, 1999. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 2000. The Monroe County Tax Commissioner bills and collects the property taxes for the Board ofEducation, 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 1999 tax year (calendar year) for the Monroe County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations

11.82 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 $3,818,485.25 and was recorded in the Capital Projects and Debt Service Funds. The State will

terminate collection of this tax once an additional $14,206,934.79 has been collected or on March 31, 2004, whichever occurs first.

- 14 -

MONROE COUNTY BOARD OF EDUCATION NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30, 2000

EXHIBIT "F"

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES INVENTORIES

FOOD INVENTORIES
Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-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.

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. In addition, general obligation bonds have been issued to refund existing general obligation bonds. 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-Te11n Debt Account Group.

INTERFUND TRANSACTIONS

The Board has the following types of interfund transactions;-

-
Reimbursements ofexpenditures/expenses initially made from a fund that are properly applicable

to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of

expenditures/expenses 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, results ofoperations or cash flows in confo1mity 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.

- 15 -

MONROE COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

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. If a 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.
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 of the 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 interest or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intc1n1ediate 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 $4,144,741.95. The amounts ofthe total bank balances are
classified into three categories of credit risk:

- 16 -

MONROE COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 2: DEPOSITS AND INVESTMENTS

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

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

Risk Category

Bank Balance

1

$ 305,895.92

2

1,470,428.23

3

2,368,417.80

Total

$4,144,741.95

CATEGORIZATION OF INVESTMENTS
At June 30, 2000, the carrying value of the Board's total investments was $3,745,806.04 which is materially the same as fair value. This investment consisted entirely offunds 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 ana Fiscal Services for the Local Government Investment Pool (Primary Liquidity Portfolio) 4oes 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 capital, 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 pool 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.

- 17 -

MONROE COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 2: DEPOSITS AND INVESTMENTS
Investments in Georgia Fund 1 and Fund 6 are directed toward short-terrn 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.
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 and errors or omissions. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years.

The Board has elected to self-insure for all losses related to natural disaster. The Board has not experienced any losses related to this risk in the past three years.

The Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the General Fund with 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

$

0.00 $

7,670.00 $

$

0.00 $

390.00 $

Claims Paid

End of Year Liability

7,670.00 $_ _~0=.0=0390.00 $_ _~o=.o=o

The Board participates in the Georgia Education Workers' Compensation Trust, a public entity risk pool organized on December 1, 1991, to develop, implement and administer a program ofworkers' compensation self-insurance for its member organizations. The Board pays an annual premium to the Trust for its general insurance coverage. Additional insurance coverage is provided through an

- 18 -


MONROE COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 4: RISK MANAGEMENT

agreement by the Trust with the United States Fidelity and Guaranty Company to provide coverage
for potential losses sustained by the Trust in excess of $250,000.00 loss per occurrence, up to $2,000,000.00.

Note 5: GENERAL LONG-TERM DEBT

CAPITAL LEASES
The Monroe County Board of Education has entered into various lease agreements as lessee for buses, copiers and various equipment. 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.

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

Purpose General Government - Refunding - Series 1993

Interest Rates 3.0%- 5.3%

Amount $ 1,040,000.00

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

Balance July 1, 1999
Deductions Debt Retired
Balance June 30, 2000

Capital Leases

GSBA

Other

General Obligation
Bonds

Total

$ 280,000.00 $ 209,938.84 $ 1,255,000.00 $ 1,744,938.84

280.000.00

53.879.24 215.000.00 548.879.24

s.====lo~.o~o s 1s6.os2.60 s 1,040,000.00 s 1,126.os2.60

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
2001 2002 2003 2004 2005
Total Principal and Interest
Deduct: Imputed Interest
Net Present Value of Future Minimum Lease Payments

Other Capital Leases

General Obligation
Bonds

Total Debt

$ 65,493.09 $ 273,655.00 $ 339,148.09

56,261.91

267,655.00

323,916.9 I

51,178.80 266,180.00 317,358.80

258,960.00 258,960.00

126,360.00 126.360.00

$ 172,933.80 $ 1,192.8!0.00 $ 1,365,743.80

16.874.20

$ I56,059.60

- 19 -

MONROE COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 6: ON-BEHALF PAYMENTS

The Board has recognized revenues and expenditures in the amount of $322,157.74 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 ofNon-Certified Personnel In the amount of $259,260.96

Paid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $9,180.78

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 $53,716.00

Note 7: SIGNIFICANT COMMITMENTS

The following is an analysis ofsignificant outstanding construction or renovation contracts executed

by the Board as of June 30, 2000:

Proiect C


Unearned Executed
Contracts

99G/98S-702-062 Middle School Soccer Field

$ 2,029,494.66 200,295.80

.229.790.46

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

Note 8: CONTINGENT LIABILITIES

Amounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant te11ns. 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 perfo11nance of routine Board operations. The ultimate disposition of these proceedings is not presently determinable, but is not believed to be material to the general purpose financial statements.

-20-

MONROE COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

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 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.

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%

$ 1,506,754.60 $ 1,487,948.65 $ 1,377,712.29


- 21 -

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

ASSETS Cash and Cash Equivalents Investments Accounts Receivable Inventories
Food Donated Commodities Purchased Food
Total Assets

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

$

495,959.61 $

103,103.03

490,140.52

8,500.23

8,903.55

31,567.89 121032.95
$ 1,038,201.20 $ = __1_12_,0_0_6._,58_

LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft Accounts Payable Salaries Payable
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated
Total Fund Equity

$

25,508.69 $

25,748.74

-

701556.62

861257.84

-

$

961065.31 $ _ _1;..a1,:21.,._00:::.:6:.:.:.5::.::8:..



$

31,567.89

12,032.95

8981535.05 $ _ _ ____;0:;.:..0:::..:0~

$

9421135.89 $ _ _ ___;0::.:..0::.:0~

-

Total Liabilities and Fund Equity
See notes to the general purpose financial statements. - 22-

$ 110381201.20 $ ====-1...1_21_0=0=6.=58=

EXHIBIT "G"

FEDERAL
PROGRAMS

TOTALS

JUNE 30, 2000

JUNE 30, 1999

$

599,062.64 $

608,147.48

490,140.52

414,462.12

$

175,661.00

193,064.78

419,984.00

31,567.89 12,032.95

45,242.12 17 708.46

$

175,661.00 $



1,325,868.78 $

1,505,544.18

$

30,199.01 $

30,199.01 $

261,063.06

27,339.24

78,596.67

68,794.27

90 177.40

246,991.86

27,7 ,973.62

$

147,715.65 $

355,787.54 $ _ _5;;;.;5;.;.7.:;;,8_,3.;;.;0..;;..95~

$

27,945.35 $

27,945.35 $

46,361.61

31,567.89 12,032.95

45,242.12 17,708.46

0.00

898,535.05

838,401.04

$

27,945.35 $

970,081.24 $ _ _9__4__7_.,;7.,_1_3_._2_3__

$

175,661.00 $

1,325,868.78

$

--

--

1,505,544.18
----- - . --

-23-

MONROE 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 School Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services Food Services Operation
Total Expenditures
Ex-cess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES
Operating Transfers In
Excess of Revenues and Other Financing Sources over (under) Expenditures
FUND BALANCE JULY 1
Food Inventory - Net Change in Period Donated Commodities Purchased Food
FUND BALANCE JUNE 30

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

$

104,032.00 $

770,313.36

743,990.84

527,706.24

$ 1,375,729.08 $ _ _7;.:7.::0.r.::,3'-',1,;;;,;3=36=-

$

683,688.41


$ __1:.,.;,3::.;1~5.&.::,5=95:.:.:::.;07~

87,919.90 2,546.09
20,042.22 16,248.54
1,478.16 2,228.53

$ 1,315,595.07 $ _ ___,;8::..;1:..:.4.1.1:,.:::.5.:.:1-,;;;,;85~

$

60,134.01 $

-43,838.49




43,838.49

$

60,134.01 $

0.00

901,351.62

0.00

-13,674.23 -5,675.51

$

942,135.89 $ _____o.moo_

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

EXHI8IT "H"

FEDERAL PROGRAMS

TOTALS

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

$

874,345.36 $

787,718.74

$

864,978.96

1,608,969.80

1,559,876.93

25,000.00

552,706.24

515,895.09

$

889,978.96 $ 3,036,021.40 $ 2,863,490.76

$

847,374.81 $ 1,531,063.22 $ 1,359,091.71

23,889.05 19,971.99
1,475.87 16,885.06

87,919.90 26,435.14 19,971.99 20,042.22 16,248.54
2,954.03 19,113.59 1,315,595.07

69,407.69 49,536.72
17,373.62 15,470.89 5,301.05 4,504.67 1,288,792.56

$

909,596.78 $ 3,039,343.70 $ 2,809,478.91

$

-19,617.82 $



-3,322.30 $ .

54,011.85

1,201.56

45,040.05

56,646.74



$

-18,416.26 $

41,717.75 $

110,658.59

46,361.61

947,713.23

831,439.47

-13,674.23 -5,675.51

2,189.98 3,425.19

$

27,945.35 $

970,081.24

$ 947,713.23 --- ----- -

--- --------

-25-


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

ASSETS Cash and Cash Equivalents Accounts Receivable

REGULAR

SPECIAL PURPOSE LOCAL OPTION SALES TAX

$

147,860.48 $ 2,080,267.95

665,699.88

Total Assets
LIABILITIES AND FUND EQUITY LIABILITIES
Retainages Payable FUND EQUITY
Fund Balances Reserved For SPLOST Projects Unreserved Undesignated Total Fund Equity

$

147,860.48 $ 2,745,967.83

--------- -

-----

$ _ _ _4_,0_98_._80_

$

$ _ _1.;..;4"'-7=,8.;;.60~.4..;.;8~

$

147,860.48 $

2,741,869.03 0.00
2,741,869.03

Total Liabilities and Fund Equity

147,860.48 $ $

-- - - - - - - --

----- -

-

2,745,967.83

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

EXHIBIT "I"

LOTTERY PROJECT

TOTALS JUNE 30, 2000 JUNE 30, 1999

$

116,712.90 $ 2,344,841.33 $

451,874.95

50,550.50

716,250.38


607,757.23

$

167,263.40 $ 3,061,091.71 $ 1,059,632.18

-------

$

167,263.40 $ _ _1"--"7-"1"-",3-"-62==20a....

$ $ _ _ _ _0'-'-.0"--'0_ $ _ _ _ _o_.o.....,.o_ $

2,741,869.03 $ 147,860.48
2,889,729.51 $

899,711.08

159,921.10
1,059,632.18

$

167,263.40 $ 3,061,091.71 $ 1,059,632.18


- 27-

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

REVENUES

State Funds Taxes Other Funds

Total Revenues



EXPENDITURES

Current Support Services Business Administration
Capital Outlay Professional and Technical Services Land and Land Improvements Building and Building Improvements Equipment

Total Expenditures

Excess of Revenues over (under) Expenditures

OTHER FINANCING SOURCES (USES)

Operating Transfers In Operating Transfers Out

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

FUND BALANCE JULY 1

REGULAR

SPECIAL PURPOSE LOCAL OPTION
SALES TAX

$
$ - - -9-72-4.0-7

$

9 724.07 $

3,571,390.25 22,494.05
3,593,884.30

$

54.73 $

170.11

21,679.99

19,120.00 36,889.20 55,676.51

$

21,734.72 $ _ _1_1_1..._,8_5__5___._82_

$

3,482,028.48

$ _ _ _ _-4_9_._97_ $ -1,639,870.53
$ _ _ _ _-4_9_._97_ $ -1,639,870.53

$

-12,060.62 $ 1,842,157.95

FUND BALANCE JUNE 30

$

147,860.48 $ 2,741,869.03

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

EXHIBIT "J"

LOTTERY PROJECT

TOTALS

YEAR ENDED

JUNE 301 2000

JUNE 301 1999

$

505,325.00 $

505,325.00

3,571,390.25 $ 32,218.12

899,579.96 5,747.30

$

505,325.00 $ 4,108,933.37 $ _ __;9::.;:0;.::;5.J.:,3=27.:..::.;26:a...

$

$

45,892.89

418,818.61

1,672,634.00

7,900.00

$ 2,145,245.50 $

$ -1,639,920.50 $

224.84 $
65,012.89 477,387.80 1,728,310.51
7,900.00

67.08
16,540.00 184,510.97

2,278,836.04 $ _---'2=0'-'1-'-'1,...;.18==05;;_ 1,830,097.33 $ _ _7.:..:0~4.i.:,2:.::.0:.:9:.21.:....

$ 1,639,920.50 $ 1,639,920.50 $ -1 ,639,920.50

88,707:00 -88,707.00

$ 1,639,920.50 $

o.oo $ _ _ _ _=0-=oo;;_



$

0.00 $ 1,830,097.33 $

704,209.21

0.00

1,059,632.18

355,422.97

$

- - - - - -0-.0-0 $ ---- --2- ,-8-8-9- ,.7-2--9- .-51 $ -----1--,0- 5--9-,6-3-2- .1-8

- 29-

MONROE COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET DEBT SERVICE FUND JUNE 30, 2000

EXHIBIT "K"

ASSETS Cash and Cash Equivalents Accounts Receivable
Total Assets

PROPERTY TAXES FOR BOND DEBT

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS JUNE 30, 2000 JUNE 30, 1999

$ 81,591.30 $

0.00 $

81,591.30 $

65,617.42

1,560.82

1,560.82

2,828.30



$ 83,152.12 $

0.00 $

83,152.12 $ ===6=8...,,4..,;4:=5..1..2...,

FUND EQUITY
Fund Balances Reserved For Debt Service Unreserved Undesignated

$ 83,152.12 0.00 $

$
0.00

83,152.12 $
0.00

68,445.72 0.00

Total Fund Equity

$ 83,152.12 $

- - - . ------- ---

--

-



0.00
- - - -- - -- -

$

83, 152.12
~- --- ----------

$ ......===-6=84==4.5...7=2=

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

MONROE COUNTY BOARD OF EDUCATION

EXHIBIT "L"

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

DEBT SERVICE FUND

YEAR ENDED JUNE 30, 2000

REVENUES
Taxes Other Funds
Total Revenues
EXPENDITURES
Debt Service Principal Interest Paying Agent Fees
Total Expenditures
Excess of Revenues over (under) Expenditures
FUND BALANCE JULY 1

PROPERTY TAXES FOR BOND DEBT

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS YEAR ENDED JUNE 30, 2000 JUNE 30, 1999

$ 14,742.96 $
1,579.22
$ 16,322.18 $

247,095.00 $ 247,095.00 $

261,837.96 $ . 287,675.93

1,579.22

1 260.75

263,417.18 $ 288,936.68

$ $ 1,615.78

215,000.00 $ 32,095.00

$ 1,615.78 $

247,095.00 $

$ 14,706.40 $

0.00 $

68,445.72

0.00

215,000.00 $ 32,095.00 1,615.78
248,710.78 $
14,706.40 $
68,445.72

215,000.00 69,242.50 1 614.56
285,857.06
3,079.62
65,366.10

FUND BALANCE JUNE 30

$ 83,152.12 $

0.00 $

83, 152.12 $ ____6..a..,.4..4..5....1=2=



See notes to the general purpose financial statements.

31

MONROE COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET FIDUCIARY FUND TYPES JUNE 30, 2000

ASSETS
Cash and Cash Equivalents Investments

NON EXPENDABLE TRUST FUND ENDOWMENT FUND
PERSONS MEMORIAL LIBRARY FUND

EXPENDABLE TRUST FUND MARY PERSONS SCHOLARSHIP
FUND

$

12,195.85 $

23,817.59

30,885.20

Total Assets
LIABILITIES AND FUND EQUITY LIABILITIES
Funds Held for Others
FUND EQUITY
Fund Balances Reserved For Endowment Corpus Unreserved. Undesignated Total Fund Equity

$

43 081.05 $

23,817.59



$

10,000.00

33 081.05 $ _ _ _2_3-,8_17_._59_

$

43 081.05 $ ____2__3_...._,8_1___7__._5__9__

Total Liabilities and Fund Equity

$

43 081.05 $....,..,_=-2-3,.8.._17_.5_9_

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

EXHIBIT "M"

AGENCY FUND

TOTALS

JUNE 301 2000

JUNE 301 1999

$

286.03 $

36,299.47 $

17,616.78

30,885.20

29,501.18



$

286.03 $

67 184.67 $ ==--==4=7..1..1..7==96....

$

286.03 $

286.03 $ _ _ _...;.1~9_8_._3_3__

$

$ _ _ ____.;o:;.a..o;:a.;;o;_

$

0.00 $

10,000.00 $

10,000.00

56,898.64

36,919.63

66,898.64 $ ___4;.;::6J.;:J9;.:.1.;:;.:9.""-63;..

$

286.03 $

67184.67 $ ___4_7_1_1_7..,96_

- 33-

MONROE COUNTY BOARD OF EDUCATION STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FIDUCIARY FUND TYPE - AGENCY FUND YEAR ENDED JUNE 30, 2000

EXHIBIT "N"

FLOWER FUND ASSETS
Cash and Cash Equivalents
LIABILITIES Funds Held for Others

BALANCE JULY 1, 1999

ADDITIONS

DEDUCTIONS

BALANCE JUNE 30, 2000

$

198.33 $



$

198.33 $

752.75 $ 752.75 $

665.05 $===2=8=6.=0=3 665.05 $ =====2..8...6...=03=














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

MONROE COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
YEAR ENDED JUNE 30, 2000

SCHEDULE "1"

FUNDING AGENCY PROGRAM/GRANT

CFDA NUMBER

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

10.553 10.555

Total Child Nutrition Cluster

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
Pass-Through From Office of Treasury and Fiscal Services National Forest Reserve Funds

10.550
10.558 10.665

Total U.S. Department of Agriculture

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

Other Programs Pass-Through From Georgia Department of Education Elementary and Secondary Education Act Title I Grantsto Local Educational Agencies Title II Eisenhower Professional Development Title VI Innovative Education Program Strategies Class Size Reduction Vocational Education Basic Grants to States High School Program Basic Grant Pass-Through From Bibb County Board of Education Adult Education
Total U. S. Department of Education

84.010
84.281 84.298 84.340
84.048
84.002

PASSTHROUGH
ENTITY ID
NUMBER

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

NIA

$ 169,944.33

(2)

NIA

"490,765.75 $ 1,239,548.62 (3)

$ 660,710.08 $ 1,239,548.62

NIA

76,046.45

76,046.45

NIA

7,234.31

(2)

NIA

178.52

(4!

$ 744,169.36 $ _ _.:_1,.::::3.:_:15::,:,5::_:9::::,5:.,:::07:..

NIA $ 226,966.39 $

NIA

39,811.00

$ 266,777.39 $

244,284.50 39,811.00
284,095.50

NIA

448,786.57

452,101.90

NIA

16,003.00

17,201.38 (3)

NIA

25,855.00

23,367.35

NIA

75,299.00

75,569.47

NIA

32,258.00

32,258.00

NIA

4,750.00

(4!

$ 869,728.96 $ _ ___;884::::...:.,o:;59::.::3:,.::.6;:::_0

Total Federal Financial Assistance
N/A = Not Available

$ 1,613,898.32 $ 2,200,188.67

- 35-

MONROE COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
YEAR ENDED JUNE 30, 2000

SCHEDULE "1"

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.
(4) Expenditures on this program were 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 Monroe 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.




See notes to the general purpose financial statements.

-36

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

SCHEDULE "2"

AGENCY/FUNDING

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

TOTAL

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 Training

Local Five Mill Share

Food Services

Vocational Education

Other State Programs

Alternative Program

At-Risk Summer School Program

Health Insurance

Preschool Handicapped Program

Remedial Summer School Program

Teachers' Retirement

Lottery Programs

Exceptional Growth-Capital OuUay

Assistive Technology

Instructional Technology

Classroom Technology

$ 8,252,193.00 1,509,975.00 256,824.00 347,636.00 93,838.00 2,183,005.00

$ 8,252,193.00 1,509,975.00 256,824.00 347,635.00 93,838.00 2,183,005.00

606,861.00 166,343.00 299,704.00 445,743.00 69,517.00
35,258.00 28,842.00 -4,362, 123.00
16,326.44

.
$ 104,032.00

606,861.00 166,343.00 299,704.00 445,743.00 69,517.00 35,258.00 28,842.00 -4,362, 123.00 104,032.00
16,326.44

64,787.00 12,476.10 259,260.96 46,237.00 4,736.63 9,180.78


$ 505,325.00 17,807.55

64,787.00 12,476.10 259,260.96 46,237.00 4,736.63
9,180.78
505,325.00 17,807.55

81,312.00

81,312.00

Office of School Readiness Pre-Kindergarten Program

671,193.81

671,193.81

Office of Treasury and Fiscal Services
Public School Employees Retirement

53,716.00

53,716.00

Division of Family and Children Services PEACH Program

60,000.00

60,000.00

Middle Georgia RESA Drug Prevention

12,317.80

12,317.80

CONTRACTS Education, Georgia Department of Georgia Reading Challenge
Academic Decathlon to Help Promote Student
Achievement in Secondary Schools

8,549.00 15,000.00

8,549.00 15,000.00

. $ 10,496,202.71 $ 874,345.36 $ 505,325.00 .$ 11,875,873.07

See notes to the general purpose financial statements.

- 37 -

MONROE 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

Payments in full of the principal and interest due

on the Monroe County School District"s Series

1993 General Obligation Bonds from January 1,

2000 through and including the final maturity of

January 1, 2005

$ 1,439,905.00 $ 1,439,905.00 $ 247,095.00 $

0.00

Acquisition. construction and equipping additional

classrooms, instructional and support space, as

well as remodeling, renovating, improving,



furnishing and equipping existing school district

facilities, including classrooms, instructional

areas, support space, physical education and

athletic facilities, administrative facilities and

grounds, acquiring any necessary personal

property, including computers and other

technology and paying expenses incident thereto

17,485,095.00 17,485,095.00 2,257,101.32

0.00



s s s s____ 1s,92s,ooo.oo 1s,92s,ooo.oo 2,504,196.32

o_.o_o

(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 for the projects. Includes all cost from project inception to completion.

(3) The voters of Monroe County approved the imposition of a 1% sales tax to fund the above projects. 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.

- 38-

MONROE 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

FOURTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

100/o TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS

$

_ _ 10,366,627.00 $

298,558.00 __,;;;..;;..;;..~--

$

12,041,465.90

515,772.22 $------4-46-,-22-7-.4-6-

. $

12,557,238.12

-25,403.80 $ _ _1_2_._,_5_3_1.._,8_3__4_._32_

Amount of Underexpenditure for Total Allotment

$

0.00 $ = = = = =0.0=0

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


MONROE 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 II (*) Category Ill (*) Category IV (*) 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

$

800,881.00

$

720,792.90 $

0.00

2,288,385.00

2,059,546.50

$ 3,089,266.00 90 $ 2,780,339.40 $

0.00

1,051,636.00 90

946,472.40

1,816,047.00 90

1,634,442.30

1,117,907.00 90

1,006,116.30

725,242.00 90

652,717.80

452,095.00 90

406,885.50

$ 8,252,193.00

$ 7,426,973.70 $ _ _ ___;;o.;.;;..o.;..o

$ 1,355,918.00

$ 1,220,326.20 $

0.00

$ 1,355,918.00 90 $

154,057.00 90

$ 1,509,975.00

$

$

256,824.00 90 $

$ 10,018,992.00

$

1,220,326.20 $

0.00

138,651.30

1,358,977.50 $ _ _ ___;;0.;.;;..0.;..0

- - - - - 231,141.60 $

0.00

9,017,092.80 $ ------"-0-.0-0-

$

278,854.00 90 $

250,968.60 $

0.00

68,781.00 100

68,781.00

$

347,635.00

$

319,749.60 $ _ _ ____.;;o.;.;;.oo..;;.

-
Total Fourteen Weighted and Media Center Programs $ 10,366,627.00

$ 9,336,842.40 $ _ _ _ _ _o_.oo.., -- - -- ----- - - -

STAFF DEVELOPMENT PROGRAMS
Cost of Instruction Professional Development

$

30,466.00

$

30,466.00 $

0.00

63,372.00

63,372.00

0.00

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

$

93,838.00 100 $

93,838.00

$ 0.00 - - -- -- -

----

See notes to the general purpose financial statements.

40


SCHEDULE "5"

EDUCATION TOTAL
REQUIRED

ACTUAL EXPENDITURES

SALARIES

OPERATIONS

TOTAL

AMOUNT OF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

$

720,792.90 $

925,126.53 $

2,059,546.50

2,652,619.25

$ 2,780,339.40 $

3,577,745.78 $

946,472.40

1,331,314.52

1,634,442.30

2,491,899.70

1,006,116.30

948,709.86

652,717.80

1,121,620.49

406,885.50

589,416.42

$ 7,426,973.70 $ 10,060,706.TT $

13,114.33 $

938,240.86

76,044.17

2,728,663.42

89,158.50 $ 3,666,904.28 $

47,500.65

1,378,815.17

94,295.85

2,586,195.55

121,899.92

1,070,609.78

35,572.68

1,157,193.17

32,996.19

622,412.61

421,423.79 $ 10,482,130.56

0.00 0.00 0.00 0.00 0.00 0.00

$ 1;220,326.20 $

$ 1,220,326.20 $

138,651.30

$ 1,358,977.50 $

$

231,141.60 $

$ 9,017,092.80 $

693,687.40 $ 499,708.79
45,560.15
1,238,956.34 $
179,257.58
1,418,213.92 $
259,051.17 $
11,737,971.86 $

9,980.96 $ 10,132.24
784.65

703,668.36 509,841.03 46,344.80

20,897.85 $ 1,259,854.19

1,398.47 22,296.32 $

180,656.05

1,440,510.24

- - - - - 2,507.35 $

261,558.52

446,227.46 $ 12,184,199.32

$

250,968.60 $

303,494.04

$

303,494.04

68,781.00 - - - - - - $ _ _ _6.9..,.;;.5.;..44_.7~6

69,544.76

$

319,749.60 $

303,494.04 $

- - - - - 69,544.76 $

373,038.80

0.00 0.00
0.00

0.00 0.00

$ 9,336,842.40 $ 12,041,465.90 $
-

515,772.22 $ 12,557,238.12 $

----. ---- --

--- --- - - - - - - -

---

----

----

0.00
- -- -

$

30,466.00

63,372.00

$ ====93=,8=38=.0=0

$

66,660.79 $

66,660.79

28,773.56

28,773.56

$

95,434.35

$ -----9-5-,4-34-.35

$

--

--------

0.00
------

- 41 -

SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS




RUSSELL W. HINTON
STATE AUDITOR
(404) 656-2174

f

~....

.

r-:

-:

~~ 'f':

,. '

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
April 13, 2001

Honorable Roy E. Barnes, Governor

Members of the General Assembly

Members of the State Board of Education

and

.

Superintendent and Members ofthe

Monroe 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 of Monroe County Board ofEducation as of and for the

year ended June 30, 2000, and have issued our report thereon dated April 13, 2001. This report was

qualified for a scope limitation and for various departures from generally accepted accounting

principles, as identified in the auditor's report on the general purpose financial statements. Except as

discussed in the following paragraph, we conducted our audit in accordance with generally accepted

auqiting standards and the standards applicable to financial audits contained in Government Auditing

Standards, issued by the Comptroller General of the United States.



We did not observe the taking ofeither the Federal donated commodities inventory or the purchased foods inventory at June 30, 2000, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.

Compliance

As part of obtaining reasonable assurance about whether Monroe County Board of Education's financial statements are free of material misstatement, we perfo11ned tests of its compliance with certain provisions oflaws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the dete1111ination 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 ofour tests disclosed no instances ofnoncompliance that are required to be reported under Government Auditing Standards.

2000YB-40

Internal Control Over Financial Reporting

In planning and perfo1n1ing our audit, we considered Monroe County Board ofEducation's internal control over financial reporting in order to dete1mine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal 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 Monroe County Board ofEducation's ability to record, process, summarize and report financial data consistent with assertions of management in the financial statements. The reportable condition is described in the accompanying Schedule ofFindings and Questioned Costs as item FS-7021-00-01.
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 no11nal course of perfo11ning their assigned functions. Our consideration of the 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 considered to be a material weakness.

This report is intended solely for the info11nation and use ofmanagement, members of the Monroe 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.

RWH:gp
2000YB-40

Respectfully submitted,

w.
sell W. Hinton State Auditor



w. RUSSELL

HINTON

STATE AUDITOR

(404) 656'2174

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DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
April 13, 2001

Honorable Roy E. Barnes, Governor

Members of the General Assembly

Members of the State Board of Education

and



Superintendent and Members of the

Monroe 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 ofMonroe County Board ofEducation with the types ofcompliance requirements described in the U.S. Office of Management and Budget (0MB) Circular A-133 Compliance Supplement that are applicable to each ofits major Federal programs for the year ended June 30, 2000. Monroe County Board of Education's major Federal programs are identified in the accompanying Schedule of Findings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility ofMonroe County Board ofEducation's management. Our responsibility is to express an opinion on Monroe County Board of Education's compliance based on our audit.

We conducted our audit ofcompliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and 0MB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. Those standards and 0MB Circular A-133 require that we plan and perfu1111 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 Monroe County Board ofEducation's compliance with those requirements and perfotniing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal dete11nination on Monroe County Board of Education's compliance with those requirements.

2000SA-10

In our opinion, the Monroe 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 Monroe 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 performing our audit, we considered Monroe County Board ofEducation's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to dete11nine 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 no11nal course ofperfo1n1ing 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 Monroe 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.

.---R...e..spectfully submitted,



RWH:gp
2000SA-10

sell W. Hinton State Auditor


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



MONROE 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

FS-7021-97-04 FS-7021-98-01 FS-7021-99-01

Previously Reported Corrective Action Implemented 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-7021-99-01

The Monroe County Board of Education does n<>t maintain a General Fixed Assets Account Group since no generally accepted plan to do so exists. The Board is aware of impending GASB 34 requirements to do so and in fiscal year 2000 began working with the Valuation Advisory Group, Inc. of Atlanta to compile a fixed assets inventory. Work is continuing and hopefully the program will continue into fiscal year 2002.





SECTION IV FINDINGS AND QUESTIONED COSTS


MONROE 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 Monroe County Board ofEducation's financial statements was

qualified for a scope limitation and 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 Monroe County Board ofEducation 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 Monroe County Board ~f 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 Monroe County Board ofEducation 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 Monroe County Board ofEducation's report on compliance with

-- requirements applicable to major programs was unqualified.

.



6. Audit Findings Required to be Reported by Section .510(a) of 0MB Circular A-133 The Monroe County Board ofEducation's audit did not disclose audit findings required to be reported by section .510(a) ofOMB Circular A-133.

7. Maior Programs Federal awards audited as major programs are as follows:
10.550 Food and Nutrition Program - Food Distribution Program
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 Monroe County Board ofEducation was audited as a low risk auditee based on a waiver granted by the U.S. Department of Education.

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MONROE 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-7021-00-01

The Monroe County Board of Education failed to maintain a system-wide General Fixed Assets Account Group within the fu1n1al accounting records as required by generally accepted accounting principles. 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 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. III FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported.
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