Murray County Board of Education, Chatsworth, Georgia, report on audit of the financial year ended June 30, 2000

MURRAY 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

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

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 BALANCES

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND

8

E

STATEMENT OF CASH FLOWS

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND

9

F NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS

11

ADDITTONAL FINANCIAL INFORMATION

COMBINING 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 REVENUES, 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

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MURRAY COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

Page

SECTION!

FINAN<:IAL

ADDillONAL FINANCIAL INFORMATION

EXHIBITS

COMBINING STATEMENTS

FIDUCIARY FUND TYPES

M

COMBINING BALANCE SHEET

32

N

COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES

AGENCY FUNDS

33

SCHEDULES

I SCHEDULE OF EXPENDITTJRES OF FEDERAL AWARDS

34

2 SCHEDULEOFSTATEREVENUE

36

3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS

37

ANALYSIS OF MINIMUM EXPENDITTJRE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

4

OVERALL

39

5

BYPROGRAM

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 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 III AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS

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MURRAY COUNTY BOARD OF EDUCATION . - TABLE OF CONTENTS -
SECTION IV FINDINGS AND QUESTIONED COSTS . SCHEDULE OF FINDINGS AND QUESTIONED COSTS

SECTION I FINANCIAL

\

RussELL \\'. H1NTor,,,
STATE AUDITOR (404) 6562174

DEPARTMENT OF AUDITS AND ACCOUNTS
2)4 V./ashing:ton Str~ct. S. W.. Sui11.; 214 Atl;..111\a. Gi..:l1rgia >0~34-X40()
March 15, 2001

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Murray 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 Murray 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 Murray 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 generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller Gene~al of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows:
The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles.
2000ARL-13

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* School activity accounts maintained at the individual schools are not included in the
general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements.
* The Board did not recognize as expenditures, in the year ended June 30, 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 umecorded 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 conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed.
The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material.
In our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Murray County Board of Education as of June 30, 2000, and the results of its operations and the cash flows of its nonexpendable trust fund for the year then ended, in conformity with generally accepted accounting principles.
In accordance with Government Auditing Standards, we have also issued our report dated March 15, 2001, on our consideration ofthe Murray County Board ofEducation'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 performed fi;,r the purpose of forming an opinion on the general purpose financial statements of the Murray County Board of Education taken as a whole. The accompanying combining statements (Exhibits G through N) 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 statements and in our opinion, except for the effects ofthe matters referred to in the third paragraph, such information is fairly stated, in all material respects, in relation to the general purpose financial statements taken as a whole.
2000ARL-13

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A copy of this report has been filed as a permanent record in the office of the State Auditor and made available to the press ofthe State, as provided for by Official Code ofGeorgia Annotated Section 506-24.
---~Respectfully submitted,
RWH:jb 2000ARL-13

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MURRAY COUNTY BOARD OF EDUCATION

MURRAY 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

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

$

826,513.40 $

638,026.86 $

246,687.13

200,000.00

341,153.69

165,188.40

70,648.35 20,720.24

Total Assets

$ 1167667.09 $ 1,094,583.85 $

246 687.13

LIABILITIES AND FUND EQUITY

LIABILITIES

Accounts Payable

'

Salaries Payable

Expired Grant Balances Payable

Contracts Payable

Retainages Payable

Funds Held for Others

~eneral Obligation Bonds Payable

Total Liabilities

FUND EQUITY

Fund Balances Reserved For Continuation of Federal Programs For Debt Service For Endowment Corpus For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For Purpose of Bond Issue
For SPLOST Projects For State Capital OuUay Projects Unreserved Undesignated

Total Fund Equity

'$

74,562.88 $

33,124.53

297,888.48

$

1,600.00

24,286.08

$

1 600.00 $

396 737.44 $

33 124.53

$

64,325.33

$

929.70

70,648.35 20,720.24
$

113,014.60

1165 137.39 $ 1,166,067.09 $

542152.49 697 846.41 $

100 548.00 213,562.60

Total Liabilities and Fund Equity

$ 1 167 667.09 $ 1,094,583.85 $

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

246 687.13

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

$

907,944.35 $

23,762.40

$

2,642,934.14 $ 5,925,224.33 ,

23,127.10

223,127.10

223,127.10

498,217.13

1,188.72

1,005,747.94

730,679.51

$

1,406,161.48

4 893 838.52

70,648.35 20,720.24 1,406,161.48
4 893 838.52

73,142.49 17,699.74 1,137,646.10
7,537,353.90

$ 1 406161.48 $

48 078,22 $

6 300 000,00 $

10 263 177.77 $ 15644873.17

$

s 107,687.41

49,878.85

297,888.48

262,411.02

25,886.08

21,073.47

11,330.73

s

5,033.55

5,033.55

116,562.79 4,716.87

$

6 300 000,00

6,300,000.00

8,675,000.00

$

5 033.55 s

s 6 300 000.00

6,736,495.52 $ 9 140 973.73

$ 1,406,161.48
s

22,000.00

0.00 $ 1 406161.48 $

21 044.67 43 044.67

$ 1 406161.48 $

48 078.22 $

$

s 64,325.33

32,647.58

1,406, 161,48

1,137,646.10

22,000.00

22,000.00

929.70

70,648.35 20,720.24 113,014.60

73,142.49 17,699.74 2,894,552.52 4,369.05 676,448.39

1,828,882.55

1,645,393.57

$

3,526,682.25 $ 6,503,899.44

6 300 000.00 $

10 263 177.77 $ 15644873.17

. 3.

MURRAY 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 lnstrUction ,
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 Escrow Agent ,

Total Expenditures

Excess of Revenues over (under) Expenditures

OTHER FINANCING SOURCES {USES)

Operating Transfers In Operating Transfers Out

'. . .Total.Other Financing Sources (Uses)

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Excess of Rev8rlues and Other Financing Sources over (under) Expenditures and Other Financing Uses

FUND BALANCE JULY 1

.

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Food Inventory - Net Change in Period

Donated'Coinmodities

Purchased Food

GENERAL FUND
y

SPECIAL REVENUE
FUND

$ 25.227.534,71 $ _1.067.404,67

4,112.11

2,652,662.71

8,002,497.52

792,693.35

1, 157,209.58

$ 34,026,837.69 $ _ _;4,.8e.,7.:.7,..2"-76"-'."'96e...

i

- ---- . -

$._ 22.857,576.69_$
1.226,793.03 692,374.25 848,407.65 514,569.26
1,996,540.58 229,914.83
2,262,727.78 1,410,668.98
498,201.08
5,085.49
643,510.00

2.388.764.90
109,974.74 . 72,579.13
80,798.51
66.53 43,447.87
77.93 2,463,664.27
27,282.32

$ 33,186,369.62 $ _ __,5,..,1:..,8:,:6..,,,6::,;56"'.2""0"-

$

840 468.07 $ _....,::-3-,0e,9.,,,3""79"'.2"'4!..

$

397,892.91

$

-397,892.91

-341,375.54

$

-397,892.91 $

56 517.37

$

442,575.16 $

-252,861.87

723,491.93

. -

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950,181.92
-2,494.14 3 020.50

FUND BALANCE JUNE 30

$

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

$

99,952.60

$ 26,394,891.98 $ 25,695,452.82

2,656,774.82

2,476,062.50

$ 3,002,280.07

11,004,777.59

10,385,956.40

90 198.14

35,073.09

2 075174.16

1,895,388.58

$

190 150.74 $ 3,037,353.16 $ 42,131,618.55 $ 40,452,860.30

$

33,124.53

3,935,757.11 $
$ 3,968,881.64 $ $ -3,778,730.90 $

$ 25,246,341.59 $ 23,077,514.98

1,336,767.77. 764,953.38 848,407.65 595,367.77
1,996,540.58 263,039.36
2,262,794.31 1,454,116.85
498,201.08 77.93
2,468,749.76 27,282.32
4,579,267.11

1,227,174.31 815,379.90 877,468.05 475,968.71
1,879,384.60 209,295.43
2,325,110.80 1,416,043.23
315,925.28 303.75
2,321,559.49 73.36
5,541,187.59

2,375,000.00 393,412.50 425.28

2,375,000.00 393,412.50 425.28

2,400,000.00 493,050.00

2,768,837.78 $ 45,110,745.24 $ 43,375,439.48

268,515.38 $ -2,979, 126.69 $ -2,922,579.18

$

341,375.54

$

341 375.54

$

739,268.45 $

889,880.69

-739,268.45

-889,880.69

$

0.00 $

0.00

$ -3,437,355.36 $ 3,650,917.96

268,515.38 $ 1,137,646.10

-2,979, 126.69 $ 6,462,237.91

-2,922,579.18 9,398,849.48

-2,494.14 3020.50

-12,601.88 -1 430.51

$

213,562.60 $ 1.406,161.48 $ 3,483,637.58 $ 6,462,237.91

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MURRAY COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (NQNGAAP BASIS) GENERAL ANO SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30 2000

EXHIBIT "C".

GENERAL FUND

ACTUAL

(BUDGET

BUDGET

BASIS)

REVENUES

State Funds Federal Funds Taxes Other Funds

$ 24,650,815.35 $ 25,227,534.71

272,714.00

4,112.11

7,938,000.00

8,002,497.52

346 985.00

792 693.35

Total Revenues

$ 33,208,514.35 $ 34,026,837.69

~XP~NDIJUR!a~

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

$ 22,633,981.35 $ 22,857,576.69

1,215,297.00 702,294.00 839,186.00 512,061.00
1,964,595.00 255,300.00
2,359,970.00 1,392,807.00
491,079.00 6,800.00 7,680.00

1,226,793.03 692,374.25
848,407.65 514,569.26 1,996,540.56 229,914.83 2,262,727, 78 1,410,668.98 498,201.08
5,085.49

645,500.00

643 510.00

Total Expenditures

$ 33,026,550.35 $ 33,186,369.62

Excess of Revenues over (under) Expenditures

$ 181 964.00 $ 640 468,07

QTHER FINANCING SQUB~ES U.!SES}

Other Sources Other Uses

$

3,480.00

-520,393,00 $ -397,892.91

Total Other Financing Sources (Uses)

$ -516,913.00 $ -397 892.91

Excess of Revenues and Other Financing Sources over (u~der) Expenditures and Other Financing Uses $

-334,949.00 $

442,575.16

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

487,496.61 462.99

723,491.93

El.!ND ~A!.ANCE JUt!II; ~ ZQQQ

$ 153 010.60 $ 1 166 067.09

SPECIAL REVENUE FUND

ACTUAL

(BUDGET

BUDGET

BASIS}

$ 1,006,866.67 $ 1,067,404.67

2,747,766.00

2,652,662.71

949 755.00

1 157 209.58

$ 4 704 387.67 $ 4 877 276.96

$ 2,604,490.67 $ 2,388,764.90

155,926.00 120,157.00

109,974.74 72,579.13

73,375.00

80,798.51

3,770.00 47,362.00
2,511,594.00 500.00

66.53 43,447.87
77.93 2,463,664.27
27,282.32

$ 5 517 174.67 $ 5, 186,656.20 $ -812 787.00 $ -309 379.24

$ 516,913.00 $ 397,892.91 -341 375,54

$ 516 913.00 $

56 517.37

$ -295,874.00 $ -252,861.87

979,028.18

950,181.92

-20, 147.34

-2,494.14 3 020.50

$ 663 006.84 $ 697 846.41

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

MURRAY COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES'EXPENSES'AND CHANGES IN FUND BALANCES
FIDUCIARY'FLJND TYPE -"NONEXPENDABLE TRUST FUND YEARENDED.JUNE 30 2000

EXHIBIT "D"

OPERATING REVENUES
No"ne Recorded
OPERATING EXPENSES None Recorded
NONOPERATING REVENUES Interest Earned Total Income
' FUND BALANCE JULY 1
. FUND BALANCE JUNE 30
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ENDOWMENT FUND
FRED L. AND MINNIE B. DUNN
TRUST FUND

TOTALS

(Memorandum Only)

YEAR ENDED" ,

JUNE 30, 2000

JUNE 30, 1999

$

0.00 $

0.00 $

0.00

$

0,00 $

0.00 $

0.00

$
$
,..

1 383.14 $ 1,383.14 $
41 661.53

$

-43,044.67 $

1 383.14 $

1 387.63

1,383.14 $ ,, , 1,387.63

"41 661.53 ,T

40 273.90

) ..
43,044.67 $

41 661.53

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

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

EXHIBIT "E"

Cash Flows from Investing Activities: Interest Received on Investments
Cash and Cash Equivalents - July 1

ENDOWMENT FUND
FRED L. AND MINNIE B. DUNN
TRUST FUND

TOTALS

{Memorandum On!~)

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

$

1,387.62 $

1,387.62 $

1,387.63

17 341.23

17 341.23

15,953.60

Cash and Cash Equivalents - June 30

$

18,728.85 $

18 728.85 $ ===1=7=,3=4=1.=23=

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

MURRAY 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 Murray County Board of Education (Board) was established under the laws of the State of .Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. 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 of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types.
Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, .nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements.
The general purpose financial statements account for all State, Federal, 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 of a 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.

- 11 -

MURRAY COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note I: 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

resou.rces

to

be

used

for

the

. acquisition or construction of major capital facilities. . .

DEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agentfees.

1-FIDUCI,ARY FUND TYPES -the funds used to account for assets held by a government unit in a

.. 'Ttrustee capacity or as an agent for individuals, private organizations, other government units.and/or

other.funds. These funds include:, :.. ,,,

.-r

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NONEXJ>ENDABLE TRUST FUND

r

.1 ,

: ,:

. Fred L. and Minnie B. Dunn Trust Fun.d - 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 as

designated by the Board.

AGENCY FUNDS - the fonds 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.

'

BASIS OF ACCOUNTING

The accounting and financial reporting treatment applied to a fund is.determined by its measurement focus. All governmental funds are accounted for using a.current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements ofthese funds present increases (i.e., revenues and other financing sources) and decreases (i.e,, expenditures andother financing uses) in.net current assets. Their reported fund balance is considered a measure of available spendable resources.

Liabilities. which are expected to be financed from available spendable resources. are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported:in the General Long-Term Deb.t Account Group.

;--12-

MURRAY COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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 of these 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 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 determined and "available"

means collectible within the current period or soon enough thereafter to be used to pay liabilities of

the current periQd. Those revenues considered susceptible to accrual are property taxes, local option

sales taxes,. intergovernmental grants and investment income.

.

I

Expenditures are generally recogn_ized 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 empioyed 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 of the 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 ofaccounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred.

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

- 13 -

MURRAY COUNTY BOARD OF EDUCATION

EXHIBIT "F"

'NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 2000

Note 1: SUMMARY OF SIGNIFICANT'ACCOUNTING POLICIES'

BUDGET

''

1

The Murray County Board of Education's budget is a complete firiancial 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 cont~ol was established by the Board at the function 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 :Jeast once in a newspaper of general circulation in the locality.'Atthe riext 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. Tlie Board may increase or decrease the budget- at any time during the year. All unexpende_d 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
J, , Federal savings andiloan 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-e;iming contracts and moneymarket inves~ents 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 bythe United States government,

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

- -14-

MURRAY COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL P.URPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(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 of Georgia, 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 information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables.

PROPERTY TAXES

The Murray County Board of Commissioners fixed the property tax levy for the 1999 tax year (calendar year) on October I, 1999 (levy date). Taxes were due on December 1, 1999. 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 Murray County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the Board.

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

School Operations

Wmills

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 $2,996,708.56 and was recorded in the Debt Servi_ce Fund. The State will terminate collection of this tax once an additional $5,788, I 08.68 has been collected or on June 30, 2002, whichever occurs first.

- 15 -

MURRAY COUNTY BOARD OF EDUCATION

EXHIBIT '.'F"

. NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

INVENTORIES

FOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the .9,ombined Balancl:! 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 indiclltes that these amounts do not constitute "available spendable resources" even though they are a component of net current assets.

COMPENSATED ABSENCES

,, .,:,

"'i,j

", 1t .. 1~ .

-~ ~: {.

Compensated absences represent obligations of the Board relating to .employees' rights to receive

. , coll!pe_nsation for fu!ure absei:ices based upon.service already rendered. This obligation relates only .,to vesting accumulating leave in Y{hich payment is probable and <;an be reasonably estimated. No liability has been recorded in the individual funds for the current portion ofthis obligation as this amount is deemed immaterial to the general purpose financial statements.

. Additionally, the dollar value of accumulated compensated absences at June 30, which will be

payable from fu_ture resources has not been recorded in the General Long-Term Debt Account Group
ap !Jlis,\i!lbility is also deemed to.be immaterial to the fair presentation ofthese financial.statements.

I. -

tf T

.. Gfi;NERAL OBLIGATION BONDS

. ,

.

. ...

. r

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

major -;;apital facilities. Bond premiums and dis~ounts, as well as issuance costs, are recognized in

.the. financil)l, statements dring the year bonds are issueq. General obligation b_onds .are direct

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

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

INTERFUND TRANSACTIONS

I

' J

The Board has the following types of interfund transactions:

j



_ f, ,

,

J ,._. _ . _, ' / '

J ' , lI

t I.

,.. Reim.~ursements of expenditures/expf/nses initially ma{le from a fund that are properly applicable

to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of e_xpenditures/expenses in the fund_ that is _reimbursed, ,

Operating transfers are recorded for all interfund transactions other than reimbursements.

-.16 -

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

EXHIBIT "F"

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
Note 2: DEPOSITS
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.
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 ofthe 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

- 17 -

MURRAY COUNTY BOARD OF EDUCATJON

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 2: DEPOSITS

(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'Intermediate-CreditBank, 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 $5,348,569.88. The amounts ofthe total bank balances are

classified into three categories of credit risk:



. i ..

Category, I - Cash that is insured (e.g., Federal depository insurance) or collatetalized with

securities held by the Board or by the Board's agent in the Board's name..

Categorx 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.) . 1

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

,.

Risk Category
1 2 3
Total
Note 3: NON-MONETARY TRANSACTIONS

-- , , ..i r

Bink Balance
$ 1,107,816.56 988,030.58
3.252.722.74
. $ 5,348,569.88

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 of loss 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.

- 18 -

MURRAY COUNTY BOARD OF EDUCATION NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 2000

EXHIBIT "F"

Note 4: RISK MANAGEMENT

The Board has obtained commercial insurance for risk ofloss associated with torts. assets, errors or omissions and job related illness or injuries to employees, 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. The Murray County Board of Education has not incurred any liabilities for unemployment compensation during the past two fiscal years.

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

Position Covered

Amount

Superintendent Each Principal Finance Director ROTC Director Nutrition Director

$ 25,000.00 $ 15,000.00 $ 25,000.00 $ 25,000.00 $ 25,000.00

Note 5: GENERAL LONG-TERM DEBT

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

Purpose

Interest Rates

Amount

General Government - Series 1997

4.00% - 5.00% $ 6.300.000.00

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

- 19 -

MURRAY COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note 5: GENERAL LONG-TERM DEBT

General , , Obligation
-Bonds

Balance July I, 1999

$ 8,675,000.00

Deductions Debt Retired

2.375.000.00

' , : Balance June ~O. -2000 ,.

I
$ 6,300,000.00,

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

General. Obligation
Bonds

I

200\

2002'.

,2003

$ 2,732,625.00 2,758,375.00 1,281,250.00

,, . ; Total Principal and Interest

$ 6,772,250.00

Note 6: ON-BEHALF PAYMENTS

The Board has recognized revenues and expenditures in the _amount oft$605,426.36 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$523,207.36 y .

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

- 20 -

MURRAY COUNTY BOARD OF EDUCATION NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 2000

EXHIBIT "F"

Note 7: CONTINGENT LIABILITIES

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

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

Note 8: ACCUMULATED EMPLOYEES' LEAVE

The Board's professional personnel earn one and one-quarter days of sick leave each month with a maximum accumulation of60 days. Personnel who retire through the Teacher Retirement System or Public School Employees Retirement System are granted $10.00 per day for accumulated sick leave to a maximum of$750.00. See Note 1- Compensated Absences

Note 9: RETIREMENT PLANS

TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)

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

$ 2,525,820.65 $2,476,776.62 $2,263,147.76

- 21 -

MURRAY COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30. 2000

; 1.

'J1,

ASSETS

Cash and Cash Equivalents

lnves\ments
,, .'
Accounts. Receivable ',.1 '.

Inventories

Food Donated Commodities

i1:

Purchased Food

.!1,-

, ...

Total Assets

SCHOOL .FOOD SERVICES FUND

LOTTERY PROGRAMS

$

469,069.30 $ 106,409.32

200,000.00

J:; , .2,011.67.

'

70,648.3~

.,,

,,
"

20720.24 ''f

. .-:1_

. r.

$

762,449.56 $

106,409.32

LIABILITIES AND FUND EQUITY : .

LIABILITIES

Accounts Payable

Salaries Payable ..

Expired Grant Balances Payable -

'

-:

Total Liabilities

FUND EQUITY

Fund Balances _Reserved . .

.l
:, .., .-,

For Continuation of.Federal Programs

For Inventories

: Food

Donated Commodities Purchased Food

. Unreserved Undesignated

, Total Fund Equity ,"

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

$

19,756.56 $

109,171.92

,,

,di:._,,
24,667.74 81,741.58

$

128,928.48 $ 106,409.32

'$

70,648.35

20,720.24

542 152.49 $

0.00

$

633,521.08 $

0.00

,-' I

$

762,449.56 $

106,409.32

EXHIBIT"G"

FEDERAL PROGRAMS

TOTALS

JUNE 30, 2000

JUNE 30, 1999

$

62,548.24 $

638,026.86 $

918,031.22

200,000.00

200,000.00

163,176.73

165,188.40

74,280.18

70,648.35 20 720.24

73,142.49 17 699.74

$

225,724.97 $ 1,094,583.85 $ 1,283,153.63

$

30,138.58 $

74,562.88 $

49,878.85

106,974.98

297,888.48

262.411.02

24,286.08

24,286.08

20 681.84

161,399.64 $

396 737.44 $ _ _::,33""2"-'9"-7.:..:1-.:..71'-

$

64,325.33 $

64,325.33 $

32,647.58

70,648.35 20,720.24

73,142.49 17,699.74

0.00

542,152.49

826 692.11

$

64,325.33 $

697 846.41 $

950,181.92

$

225,724.97 $ 1,094,583.85 $ 1,283,153:63

- 23 -

MURRAY 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 Community Services Operations
Total Expenditures 1
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

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

~a

$, .167,034.00 $ 1.283,312.92 1,086,745.09

856.866.67

$ 2.537,092.01 $

856,866.67

..-: \
,' ''.__; '

$

760,953.52

77.391.97

8,439.41

$ 2,452,973.77 27,282.32

10,081.77

$ \
$ 2,480,256.09 .

856,866.67

-$

-~.
56,835.92 $

- 0.00

~.

$

-341,375.54

$_ -341,375.54

$,,

-284.539.62 $

., 917.534.34

\;

-2,494.14 3 020,50

0.00 0.00

FUND BALANCE JUNE 30
See notes to the general purpose financial statements. , .-24-

633,521.08 $ = = ====0;;;,0;;,;0;,,

EXHIBIT"H"

FEDERAL PROGRAMS

TOTALS

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

$

43,504.00 $ 1,067,404.67 $

846,519.74

1,369,349.79

2,652,662.71

2,466,612.53

70,464.49

1,157,209.58

1 033 301.67

$ 1,483,318.28 _$ 4,877,276.96 $ 4,346,433.94

$ 1,627,811.38 $ 2,388,764.90 $ 1,915,323.57

32,582.77 72,579.13 72,359.10
66.53 43,447.87
77.93 608.73

109,974.74 72,579.13 80,798.51
66.53 43,447.87
77.93 2,463,664.27
27,282.32

141,103.99 116,410.89
59,412.93 3,477.48
45,497.15 303.75
2,320,425.18 73.36

$ 1 849,533.44 $ 5,186,656.20 $ 4,602,028.30

$

-366,215.16 $

-309 379.24 $

-255,594.36

$

397,892.91 $

397,892.91 $

399,322.69

-341 375.54

$

397,892.91 $

56 517.37 $

399,322.69

$

31,677.75 $

-252,861.87 $

143,728.33

32,647.58

950,181.92

820,485.98

-2,494.14 3 020.50

-12,601.88 -1 430.51

$

64,325.33 $

697 846.41 $ =====9=5=0!:1=81=.9=2=

- 25 -

MURRAY COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30. 2000

ASSETS

-.

. -

REGULAR

BOND PROCEEDS

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION

Cash and Cash Equivalents

$ 100,548.00 $ 146,139.13 $

0.00

(.

.

LIABILITIES AND FUND EQUITY

LIABILITIES

-' .

Accounts Payable Contracts Payable Retainages Payable

$

33,124.53

' ..

Total Liabilities

'$

33 124.53

FUND EQUITY

Fund Balances Reserved

>
' - -.-

For Purposes of Bond Issue

For SPLOST Projects

-

For State Capital Outlay Projects

$ 113,014.60

Unreserved

Undesignated

$ 100,548.00

0.00 $

0.00

Total Fund Equity

$ 100,548.00 $ 113 014.60 $

0.00

. -
Total Liabilities and Fund Equity - $

100,548.00 . $

'
146,139.13 $

- 0.00

;i

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

EXHIBIT"!"

SPECIAL PURPOSE LOCAL OPTION
SALES TAX

$

0.00 $

LOTTERY PROJECT

TOTALS

JUNE 30, 2000

JUNE 30, 1999

0.00 $

246,687.13 $ 3,778,811.48

$

33,124.53

$

11,330.73

116 562.79

$

33 124.53 $ _ _1~2~7=,8=93==52~

$

113,014.60 $ 2,894,552.52

4,369.05

676,448.39

$

0.00 $

0.00

100,548.00

75 548.00

$

0.00 $

0.00 $

213,562.60 $ 3,650,917.96

$

0.00 $

0.00 $

246,687.13 $ 3,778,811.48

- 27 -

. ., MURRAY 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 Other Funds

' ',
..
$

Total Revenues

$

EXPENDITURES

Current

Support Services

Business Administration

Capital Outlay

' .

.,

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
and over (under) Expenditures Othef,Financing Uses. $

FUND BALANCE JULY 1

FUND BALANCE JUNE 30

' : .'
$

REGULAR

BOND PROCEEDS

GEORGIA STATE .FINANCING AND
INVESTMENT COMMISSION

0.00 $

90198.14 $

0.00

0.00 $

90198.14 $

0.00

$

33.124.53

$

711.00

711.800.45

$

33 124.53 $

712511.45

$

57 073.61 $

-712 511.45

25.000.00 $
25 000.00 $

$ -2.838.611.53
-2,838,611.53 $

25.000.00 $ _ . -2.781.537.92 ~$

75 548.00

2,894,552.52

61.622.79
61 622.79
-650.888' .66
650,888.66

100 548.00 $

113 014.60 $

0.00

See notes to the general purpose financial statements.

EXHIBIT"J"

SPECIAL PURPOSE LOCAL OPTION
SALES TAX

LOTTERY PROJECT

TOTALS YEAR ENDED JUNE 30, 2000 . JUNE 30, 1999

$
$ _ _ _ _o~.0=0~

$

0.00 $

99.952.60 $ 99 952.60 $

99.952.60 $ 90198.14
190 150.74 $

1,721,892.38 250,650.26
1972542.64

$

33,124.53 $

509.13

$ 2,866,608.94 $

356,636.72

711.00 3,935,046.11

11,238.25 5,328,272.34
201 677.00

$ 2,866,608.94 $ 356,636.72 $ 3,968,881.64 $ 5,541,696.72

$ -2,866,608.94 $

-256,684.12 $ -3 778 730.90 $ -3,569, 154.08

$ 2,867,255.70 $ -5 015.81
$ 2,862,239.89 $

231,124.39 $ 3,185,002.88 $ 3,682,430.56

-2,843,627.34

-3,191,872.56

231 124.39 $

341 375.54 $

490 558.00

$

-4,369.05 $

-25,559.73 $ -3,437,355.36 $ -3,078,596.08

4 369.05

25 559.73

3,650,917.96

6 729 514.04

$

0.00 $

0.00 $

213,562.60 $ 3,650,917.96

-29-

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

EXHIBIT "K"

ASSETS

PROP.ERTY, . TAXES FOR
BOND DEBT

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS , JUNE 30, 2000 JUNE 30, 1999

Cash and Cash Equivalents $

5.116.04 $

902.828.31 $

907,944.35 $

715,536.55

Accounts Receivable

705.64

~ 497 511.49

498 217.13

... 422109.55

Total Assets

$

5 821.68 $ 1,400,339.80 $ 1.406161.48 $ 1 137.646.10

FUND EQUITY

Fund Balances

Reserved

For Debt Service

$

Unreserved

Undesignated

5,821.68 $ 0.00

1.400,339.80 .$ 0.00.

1.406,161.48 $ 0.00

1, 137.646.10 0.00

Total Fund Equity _$

5 821.68 $ 1,400,339.80 $ 1 406 161.48 $ 1137 646.10

C

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

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

EXHIBIT "L"

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

$

5,571.51 $ 2,996,708.56 $ 3,002,280.07 $ 2,706,700.82

178.17

34 894.92

35 073.09

32 873.49

$

5 749.68 $ 3,031,603.48 $ 3,037,353.16 $ 2 739 574.31

EXPENDITURES

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

$

0.00 $ 2,375,000.00 $ 2,375,000.00 $ 2,400,000.00

393,412.50

393.412.50

493,050.00

425.28

425.28

$

0.00 $ 2,768,837.78 $ 2,768,837.78 $ 2,893,050.00

$

5 749.68 $

262 765.70 $

268 515.38 $ -153 475.69

OTHER FINANCING SOURCES (USES}

Opeiating 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

$ -5 875.00
-5 875.00 $

5,875.00 $ 5 875.00 $

5,875.00 $ -5 875.00
0.00 $

157,745.39 157 745.39
0.00

125.32 $

268,640.70. $

268,515.38 $ -153,475.69

5 947.00

1,131,699.10

1137 646.10

1 291121.79

FUND BALANCE JUNE 30

$

5821.68 $ 1.400,339.80 $ 1406161.48 $ 1137646.10

See notes to the general purpose financial statements.

31

MURRAY COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET .FIDUCIARY FUND TYPES . JUNE 30 2000

EXHIBIT"M"

ASSETS Cash and Cash Equivalents Investments Accounts Receivable

NON EXPENDABLE TRUST FUND FRED LAND
MINNIE B. DUNN TRUST FUND

.AGENCY FUNDS

TOTALS JUNE 30, 2000 JUNE 30, 1999

18,728.85 $

5,033.55 $

23,762.40 $

22,058.10

23,127.10

23,127.10

23,127.10

1 188.72

1188.72

1 193.20

' .

Total ASsets

$

.
LIABILITIES AND FUND EQUITY
.LIABILITIES

Funds Held for Others

'

i:

FUND EQUITY

Fund Balances

Reserved

For Endowment Corpus

$

Unreserved

Undesignated

Total Fund Equity

$

43 044.67 $
<
$
-
22,000.00 21 044.67 43 044.67

5 033.55 $

48 078.22 $ =-4=6_,3=78,,..=40=

I
5 033.55 $

I.
5 033.55 $

4 716.87

.. $ $

22,000.00 $
21 044.67
43 044.67 $

22,000.00 19 661.53 41 661.53

Total Liabilities and Fund Equity $

43 044.67 $

5 033.55 $

48 078.22 $ _ _4_6_.3_7_.8..4..0=

See notes to the general purpose financial statements.

r: - 32 -

MURRAY COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FIDUCIARY FUND TYPE - AGENCY FUNDS YEAR ENDED JUNE 30. 2000

EXHIBIT "N"

COUNSELORS' WORKSHOP
ASSETS Cash and Cash Equivalents

BALANCE JULY1,1999

ADDITIONS

DEDUCTIONS

BALANCE JUNE 30, 2000

$

23.73 $

367.50 $

462.74 $

-71.51

LIABILITIES Funds Held for Others

$

23.73 $

367.50 $

462.74 $====-7=1=.5=1

STAFF DEVELOPMENT FUND

ASSETS

Cash and Cash Equivalents

$

3 306.53 $

7 711.00 $

7 617.54 $ ===3=3=9=9=.9=9=

LIABILITIES Funds Held for Others

$

3,306.53 $

7711.00 $

7 617.54 $ ===3...,39.,.9..,.9=9=

SOCIAL WORKERS' FUND

ASSETS

Cash and Cash Equivalents

$

1 386.61 $

1 975.00 $

1 656.54 $ =====1.10..,.5..,.0.,.1=

LIABILITIES Funds Held for Others

$

1 386.61 $

1 975.00 $

1 656.54 $ =====1=70=5=.0=7=

TOTALS - AGENCY FUNDS

ASSETS

Cash and Cash Equivalents

$

4 716.87 $

10,053.50 $

9 736.82 $ =====5=,0=33=.5=5=.

LIABILITIES Funds Held for Others

$

4 716.87 $

10 053.50 $

9 736.82 $ ===5=,0=3=3=.5=5=

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

MURRAY 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

10.553 10.555

NIA $ NIA

'+
276, 114.,16 871,424.87 $

(2) 2,344.462.20 (3)

Total Child Nutrition Cluster
s , .
' Other Programs
Pass-Through From Georgia Department of Education Food and Nutrition Program Food Distribution Program (1)
Pass-Through From Office of Treasury and Fiscal Services National Forest Reserve Funds
Tot?1 U. ~- Department of Agriculture

$ 1,147,539.03 $

2,344.462.20

;

10.550 10.665

NIA

135,773.69

135,773.89

NIA

4 112.11

4

$ 1,287,425.03 $

'":,
2,460,256.09

Corporation for National and Comrllunity Services Pass-Through From Georgia Department of Education Leam and Serve America School and Community Based Programs
Education, U.S. Department Of Special Education Cluster Pass-Through From Georgia Department of Education Individuals with Disabilities Education Act Part B - Special Education Capacity Building Improvement Flow Through Preschool

94.004

NIA $
,

20 500.00 '$

20,500.00

64.173 64.027 64.173

NIA s
NIA NIA

7,615.41 $ 323,727.36
38,265.39

7,815.41 323,727.36
36,265.39

Total Special Education Cluster

$

369,626.16 $

369,626.16

Other Programs

Pass-Through From Georgia Department of Education

'.

Elementary and Secondary Education-Act

Title! Grants to Local Educational Agencies

64.010

NIA

Title II Eisenhower Professional Development

64.261

NIA

Title Ill Techno1ogy Literacy Challenge Fund Grants

84.318

NIA

Title VI

r

Innovative Education.Program Strategies1 ,

Class Size Reduction

84.29?

NIA

64.340

NIA

Goals2000

State and Local Education Systemic Improvement Grants

84.276

NIA

Safe and Drug-Free Schools

64.166

NIA

Vocational Education - Basic Grants to States

High School PrDgl'am Basic Grant

64.046

NIA

516,240.61 21,667.00
113,000.00 26,334.00 , 104,008.00 73,455.00 25,626.66
42 443.00

516,240.61
10.425.91
75,535.02
26,334.00 104,008.00
134,207.32 (3) 25,626.66
J
453,751.15 (3)

Total U.S. Department of Education

$ 1,297,024.65 $

1,120.159.05

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

:r F-2~
'34-

NIA,. $

11 664.92 $

11 684.92

MURRAY COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
YEAR ENDED JLJNE 30 2000

FUNDING AGENCY PROGRAM/GRANT
Defense, U. S. Department of Direct Department of the Army R.O.T.C. Program

CFDA NUMBER

PASSTHROUGH
ENTITY ID
NUMBER

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

$

40,140.22 $

97,189.47 (3)

Total Federal Financial Assistance

$ 2,656,774.82 S _..;4;:.,.::;32a:9;.,7~B:::,9,~5._3

N/A = Not Available

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 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) Funds earned on this program do not require reporting of expenditures.

~ajar 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 Murray 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.

35

MURRAY COUNTY BOARD OF EDUCATION SCHED~LE 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 Developmenf Programs Indirect CoSt Pupil Transportation Regular Bus Replacement Limited English Speaking Middle School Incentive Program Special lnstnJctiOnal Assistance In-School Suspension Mid-term Adjustment 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 Environmental Science PfOgram Health Insurance Innovative Programs Mentor Teacher Program Preschool Handicapped Program Remedial Summer School Program
Lottery Programs Assistive Technology Computers in the Classroom Exceptional Growth-Capital Outlay
Office of School Readiness Pre-Kindergarten Program
Office of Treasury and Fiscal ServiceS Public School Employees Retirement
CONTRACTS Education, Georgia Department of To provide funding for a crossroads special project
To provide funding for the implementation and operation of after-school programs

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

TOTAL

$ 14,444,267.00 2,431,169.00 434,787.00 618,710.00 164,460.00 3,700,055.00

'.~
-.

$ 14,444,267.00
2,431,169.00 434,787.00 618,710.00 164,460.00
3,700,055.00

609,679.00

186,108.00

58,620.00

491,fi:75.00

' ,.,

787,774.00 102,641.00

697,286.00

66,938.00

57,685.00

-2,592,923.00

1,889,246.00

$ . 84)164.00

167,034.00
. '. !~

\ e

609,679.00 186,108.00 58,620.00 491,675.00 787,774.00 102,641.00 697,286.00 66,938.00 57,685.00 -2,592,923.00 1,889,246.00 167,034.00 84,464.00

93,215.00 35,000.00 24,283.08
1,500.00 523,207.36
5,000.00 9,234.00 82,030.00 5,505.27

-. 93,215.00 35,000.00 24,283.08 \"b 1.soo.90 523,207.36 5,000.00 9,234.00 82,030.00 5,505.27

21,050.31 143,151.00
$

99,952.60

21,050.31 143,151.00
99,952.60

692,665.36

692,665.36

82,219.00

82,219.00

500.00 133,200.00

43 504.00

500.00 176 704.00

$ 25,227,534.71 $ 1,067,404.67 $ 991952.60 $ 26,394,891.98

See notes to the general purpose financial statements.

36

MURRAY COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL QPTIQN 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)(4)

/
AMOUNT
EXPENDED IN PRIOR YEARS

Bagley Middle School - construction of six regular classrooms and four science classrooms

$

454,470.00 $

1,012,413.39 $

356,636.72 $

655,776.67

Chatsworth Elementary Schools - construction of 32 regular classrooms, one music room, one art room, one gymnasium, one media center, one administrative area, a new roof on the lunchroom wing, and renovation of the old office for two special education rooms

1,911,865.00

5,486,057.48

712,511.45

4,773,546.03

Construction of new addition at the School System's central office at 715 Chestnut Street in Chatsworth to house personnel presently working at the county office annex

454,470.00

6,250.00

6,250.00

Gladden Middle School - construction of eight regular classrooms. three science classrooms, new HVAC and roof, restroom modernization, paint and trim of interior walls, refinishing of gymnasium floor, new ceiling tiles and rewiring

1,704,260.00

2,421,876.53

1,238,911.25

1,182,965.28

Northwest Elementary School - construction of 14 regular classrooms, one gymnasium, one administrative area, one media center, renovation of the old gym for art and music rooms, renovations and new carpet for the present rooms
Old Eton School - a new HVAC and roof

1,842,536.00 568,087.00

4,485,491.78 42,356.27

4,485,491.78 42,356.27

Purchase of computers and technology equipment for all schools in the School District

1,340,509.00

700,700.65

700,700.65

Retirement of all debt - Retirement of all previously incurred General Obligation Debt of the school system

3,408,521.00

. 3,573,641.00

3,573,641.00

Spring Place Elementary School - construction of eight classrooms, a music and art room, new HVAC, carpet, and paint and trim of interior walls

1,915,282.00

2 217,597.44

1 627,697.69

589 899.75

$ 13,600,000.00 $ 19,946,384.54 $

3 935,757.11 $ 16,010,627.43

( 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 Murray 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.

(4) In addition to the expenditures shown above, the Board incurred interest expense to provide for advanced funding for above projects as follows:

Current Year

s

393,412.50

Prior Years

989,650.83

Total

$ _...:,1._3.83.::,,0::,6:,3:.,,3:::,3

See notes to the general purpose financial statements.

- 37 -

r: ,
.. ) : r

MURRAY 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

100% TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS

$

18.503.740.00 $

528,768.00

$

19,904,369.96

1,226,712.56 $ _ _.:..1,:.::.08::,6"",2"'9'-"1.:..7:.:....7

$

21,131,082.52

-196,050.86 $ _ ___::2:.::.0,.:::,9::,35~,0e.::3:..:.1:.::6;:c.6

$

0.00 $=====0-;;;0;;,0

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

MURRAY COUNTY BOARD OF EDUCATION ANALYSIS QF MINIMUM EXPENDITURE REQUIREMENTS'- BY PROGRAM
. GENERAL FUND - QUALITY BASIC-EDUCATIQN PROGRAMS . YEAR ENDED JUNE 30 2000

. ,. , . ,, GENERAb AND CAREER EDUCATION PROGRAMS ' Kindergarten r)

Grades 1 ~ 3 ()

~ C , ~ -

Sub-Total - K-3

- ,- ,.

Grades4-5 r)
n Grades 6-8

Grades 9 12 r)

,

_Hig~ School Laboratories:(*) ..:._-:

Vocational Education Laboratories(*)
'
Total General and Career Education Programs

SPECIAb EDUCAT!QN PROGRAM

Regular Programs Category I c-) Category II(") Category Ill (*) Category IV()

Sub-Total - Regular

\

. Category V~ {Gifl8d) {*)

Total Special Education Programs

REMEDIAL EQUCATION PRQQRAM {*l

Total Fourteen Weighted Programs

MEQIA CENTER PBQGBAMS

Salaries Operations

Total Media Center Programs

ALLOTMENTS FROM GEORGIA DEPARTMENT OF

REQUIRED

ORIGINAL 2 -

ORIGINAL

MIO-TERM

$ 1,707,567.00

$ 1,536,810.30

4,308,990.00

3,878,091.00 $

s $ 6,016,557.00 90

5,414,901.30 $

1,997,331.00 90
' ':!
2,995,433.00 90

1,797,597.90 2,695,889. 70

1,817,233.00 90

1,635,509.70.

676,191.00 90

608,571.90

941,522.00 90

847,369.80

$ 14,444,267.00
.-, C

$ 12,999,840.30 $

$ 2, 123,885.00

$ 1:e1 t ,496.so $

210.000.00 210,000.00 _ 225,000.00 120,811.00
555,811.00 0.00

s $ 2,123,885.00 90

1,911,496.50 $

307,284.oo - 90

276,555.60

$ 2,431,169.00

s 2,188,052.10 $

$

434,787.00 90 $

391,308.30 $

$ 17,310,223.00

$ 15.519,200.10 $

0.00
0.00 0.00 555,811.00

$

497,621.00 90 $

447,858.90 $

121,089.00 100

121,089.00

$

618,710.00

$

568,947.90 $

18,996.00 18,996.00

Total Fourteen Weighted and Media Center Programs $ 17,928,933.00

$ 16,148. 148.60 $

574,807.00

SIAFF 1:!~VELOPME~I eBQQB6MS
Cost of Instruction Professional Development
Total Staff Development Programs (*) Identifies Fourteen Weighted Programs.

$

53,413.00

$

53,413.00 $

0.00

111,047.00

111,047.00

$

164,460.00 100 $

s 164,460.00

0.00

See notes to the general purpose financial statements.

. '

-- 40 -

SCHEDULE sK

EDUCATION TOTAL
REQUIRED

ACTUAL EXPENDITURES

SALARIES

OPERATIONS

TOTAL

AMOUNT OF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

$ 1,536,810.30 $

1,927,634.53 $

s 37,621.68

1,965,256.21

4,088,091.00

4,523,331.10

182,327.44

4,705,658.54

$ 5,624,901.30 $

6,450,965.63 $

219,949.12 $ 6,670,914.75 $

0.00

2,022,597.90

2,401,076.59

85,978.36

2,487,054.95

0.00

2,816,700.70

3,299,280.73

276,624.91

3,575,905.64

0.00

1,635,509.70

2,087,810.12

221,205.49

2,309,015.61

0.00

608,571.90

834,977.05

25,777.55

860,754.60

0.00

847,369.80

715,557.39

154,726.38

870,283.77

0.00

$ 13,555,651.30 $ 15,789,667.51 $

984,261.81 $ 16,773,929.32

$ 1,911,496.50 $

s 143,989.87
631,950.93
1,414,447.91 256,824.81

73,862.01 $ 6,959.43 8,329.38
537.26

217,851.88 638,910.36 1,422,777.29 257,362.07

$ 1,911,496.50 $

2,447,213.52 $

89,688.08 $ 2,536,901.60

0.00

276,555.60

278,608.21

6,424.43

285,032.64

0.00

$ 2,188,052.10 $

s 2,725,821.73

s 96,112.51

2,821,934.24

$

s 391,308.30

s 695,544.65

s 5,917.45

701.462.10

0.00

s s $ 16,135,011.70 $ 19,211,033.89

1,086,291.77

20,297,325.66

$

s 466,854.90

693,336.07

s

693,336.07

0.00

121,089.00

$

140,420.79

140,420.79

0.00

$

587,943.90 $

693,336.07 $

140,420.79 $

833,756.86

s $ 16,722,955.60 $ 19,904,369.96 $ 1,226,712.56 $ 21,131,082.52

0.00

$

53,413.00

111,047.00

$ =='=6=4=,4=6=0-=00=

$

106,856.17 $

106,856.17

63,460.08

63,460.08

$

170,316.25 $

170,316.25 $ =====-=0:;;-:;;00;,

~ 41

\_ r.
'

SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS

''-

RussELL \\'. H1!'.'TOr"li STATE AUDITOR (404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
25..J Wa:-.hington St1\.'CL S. W.. Suite 214 Atl,rnw. Cicurgia io:,!>4~84()()
March 15, 2001

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Murray 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 Murray County Board of Education as of and for the year ended June 30, 2000, and have issued our report thereon dated March 15, 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 generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.
Compliance
As part of obtaining reasonable assurance about whether Murray County Board of Education's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions oflaws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination offinancial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our 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.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered Murray 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-40

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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 our judgment, could adversely affect Murray 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-7051-00-0 I.
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 normal course of performing 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 information and use of management, members of the Murray 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-40

State Auditor

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RussE1.1. \\1 H1NTON
STATE AUDITOR (404) 656-2174

DEPARTl\1ENT OF AUDITS AND ACCOUNTS
254 Washington Sin.Tl. S.\V.. Suitl'. 21 Atlam.i. Gcorgi..i 30:n4-X400
March 15, 2001

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Murray County Board of Education
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULAR A-133
Ladies and Gentlemen:
Compliance
We have audited the compliance ofMurray 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. Murray County Board ofEducation's major Federal programs are identified in the accompanying Schedule ofFindings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility ofMurray County Board ofEducation's management. Our responsibility is to express an opinion on Murray County Board ofEducation'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 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 Murray County Board ofEducation's compliance with those requirements and performing 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 determination on Murray County Board of Education's compliancewith those requirements.
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In our opinion, the Murray 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 Murray 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 Murray 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 determine 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.
We noted a certain matter involving the internal control over compliance 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 compliance that, in our judgment, could adversely affect the Murray County Board of Education's ability to administer a major Federal program in accordance with applicable requirements oflaws, regulations, contracts and grants. The reportable condition is described in the accompanying Schedule of Findings and Questioned Costs as item FA-7051-00-01.
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 of risk that noncompliance with the applicable requirements oflaws, 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 normal course of performing their assigned functions. Our consideration of the internal control over compliance 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, we believe the reportable condition described above is not a material weakness.
This report is intended solely for the information and use of management, members of the Murray 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,
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State Auditor
RWH:jb 2000SA-40

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

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MURRAY 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-7051-98-01 FS-7051-99-01

Further Action Not Warranted Umesolved - See Corrective Action/Responses

CORRECTIVE ACTION/RESPONSES

GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number: FS-7051-99-01

Due to current staffing limitations and budgetary considerations prohibiting the hiring of additional administrative staff, the Board has decided not to pursue the recording ofgeneral fixed assets on the financial statements.

PRIOR YEAR FEDERAL AWARD FINDINGS AND QUESTIONED COSTS

FINDING CONTROL NUMBER AND STATUS

FA-7051-99-01

Umesolved - See Corrective Action/Responses

CORRECTIVE ACTION/RESPONSES

CASH MANAGEMENT Excessive Cash Drawdowns Finding Control Number: FA-7051-99-01

Forecasting cash needs will be made as near as possible to cash needs rather than budgeted amounts. However, subsequent to June 30, 2000, this problem should be corrected.

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SECTION IV FINDINGS AND QUESTIONED COSTS

MURRAY COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED JUNE 30, 2000
I SUMMARY OF AUDITOR'S RESULTS
I. Type of Report Issued on the Financial Statements The auditor's opinion on the Murray County Board of Education'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 Murray 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 Murray 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 Murray County Board ofEducation disclosed a reportable condition in internal control over major programs for the following compliance requirement.
Cash Management
The reportable condition described above is not considered to be a material weakness.
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5. Type of Report Issued on Compliance for Major Programs The auditor's opinion on the Murray 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) ofOMB Circular A-133 The Murray County Board of Education's audit disclosed an audit finding required to be reported by section .51 0(a) ofOMB Circular A-133. This audit finding is included in section IV of this report.
7. Major Programs Federal awards audited as major programs are as follows: I0.553 Food and Nutrition Program~ Food Services - S~hool Breakfast Program I 0.555 Food and Nutrition Program - Food Services - National School Lunch Program
8. Type "A" Program Dollar Threshold The dollar threshold for type "A" programs was $300,000.00'.
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. MURRAYCOUNTY BOARIYOF.EDUCATION
SCHEDULE OF FINDINGS AND.QUESTIONED COSTS . YEAR ENDED JUNE 30, 2000

I SUMMARY OF AUDITOR'S RESULTS .

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9. Low Risk Auditee

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The Murray County Board ofEdtication was auditedas a low risk auditee based on a waiver

granted by the U. S. Department of Education. . ,;..

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,, II FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS ' :, _ ,

GENERAL FIXED ASSETS

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Failure to Maintain General Fixed Assets Account Group

Reportable Condition - Material Weakness

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Repeated From Prior Year

Finding'Coli.trolNumber: FS-7051-00-01. Gr. ,: .,

The Murray County Board of Education did' not maintain a:system~wide .G_eneral Fixed Assets

,Account Group within theforrnalaccounting records asrequired.bygenerally 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 Jirocedures_to provide for

. inainte'nance of a General Fixed Assets AccmintGroup. These subsidiary i:ecords should include an

inventory ofland;buildings, and equipment owned 1;,y the Board and should include, but may not be

limited to, date acquired, acquisition cost, estimated replacement cost, location, and desctjption.

Detailed records should be maintained of all additions and deletions to the General. Fixed Asset

Account Group.



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ill FEDERAL AWARD FINDINGS AND QUESTIONED COSTS

CASH;MANAGEMENT:

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Excessive Cash Balances., Reportable Condition

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Repeated From Prior Year

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Through Georgia Department of Education

Amount: $929.70

Finding Control Number: FA-7051-00-01

A-review ofoash management procedures for the SpecialEducation Cluster (CFDA Numbers 84.027 and 84.173) disclosed thatcash draws were made.in advance of immediate cash needs, resulting in accumulation ofexcessive cash balances. During the year under review, the cluster had an average cash balance of$14,997.57 with excessive ending balfil!ces in six months. , . :,:~ . _,:"':~ "

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MURRAY COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED JUNE 30, 2000

JJI FEDERAL AWARD FINDINGS AND QUESTIONED COSTS

CASH MANAGEMENT Excessive Cash Balances Reportable Condition Nonmaterial Noncompliance Repeated From Prior Year U.S. Department of Education Through Georgia Department of Education Amount: $929.70 Finding Control Number: FA-7051-00-01

In accordance with A-102 Common rule paragraph 21 (h)2(I), interest earned on advances by local

government grantees is required to be submitted promptly to the Federal grantor agency. Up to $100

per year may be kept for administrative expenses. The Special Education Cluster (CFDA Numbers

84.027 and 84.173) earned interest amounting to $1,029.70 of which $929.70 should have been

submitted to the Georgia Department ofEducation. The interest earned on this program's funds were

recorded in the Board's General Fund.



This internal control deficiency resulted from management's use of budgeted amounts rather than actual amounts when forecasting cash needs. The Board should review the Federal compliance procedures in place, design procedures which enhance monitoring compliance with Federal guidelines and proper internal controls relative to the above Federal compliance requirement. The Board should implement procedures to minimize the time elapsing between the transfer of funds from the Georgia Department of Education and disbursement ofsuch funds. In addition, excessive interest earned. totaling $929.70 should be refunded to the Georgia Department of Education.

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