GA ABOO .RI Pb T7 1993-1+ STATE OF GEORGIA DEPARTMENT OF AUDITS 254 WASHINGTON STREET ATLANTA, GEORGIA 30334 AUDIT REPORT TATTNALL COUNTY BOARD OF EDUCATION REIDSVILLE, GEORGIA YEAR ENDED JUNE 30, 1994 TATTNALL COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - SECTION I FINANCIAL INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE EXHIBITS GENERAL PURPOSE FINANCIAL STATEMENTS COMBINED STATEMENTS - OVERVIEW A COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUP 2 B COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND 4 C COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ACTUAL AND BUDGET GOVERNMENTAL FUND TYPES 6 D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 7 ADDITIONAL FINANCIAL INFORMATION COMBINING AND INDMDUAL FUND STATEMENTS SPECIAL REVENUE FUND E COMBINING BALANCE SHEET 20 F COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 22 CAPITAL PROJECTS FUND G COMBINING BALANCE SHEET 24 H COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 26 FIDUCIARY FUND TYPES COMBINING BALANCE SHEET 28 STATEMENT OF CHANGES IN ASSETS AND LIABILITIES AGENCYFUND 29 TATTNALL COUNTY BOARD OF EDUCATION TABLE OF CONTENTS - SECTION I FINANCIAL ADDITIONAL FINANCIAL INFORMATION SCHEDULES 1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE 30 2 ANALYSIS OF CASH AND CASH EQUIVALENTS 32 3 ACCOUNTS RECEIVABLE 33 4 DEBT SERVICE REQUIREMENTS TO MATURITY 34 SCHEDULE OF REVENUE 5 STATE FUNDS 35 6 LOCAL AND OTHER FUNDS 36 SCHEDULE OF EXPENDITURES BY OBJECT 7 GOVERNMENTAL FUND TYPES 37 8 LOTTERY PROGRAMS 38 ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS 9 OVERALL 39 10 BY PROGRAM 40 11 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS 42 SECTION II COMPLIANCE COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS SINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS SINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS SINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS TATTNALL COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - SECTION III INTERNAL CONTROL REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS SECTION! FINANCIAL CLAUDE L. VICKERS STATE AUDITOR (404) 656-2174 DEPARTMENT OF AUDITS 254 Washington Street, S.W.. Suite 214 Atlanta, Georgia 30334-8400 August 24, 1995 Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation and Superintendent and Members ofthe Tattnall County Board of Education INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARYINFORMATIONSCHEDULE OF FEDERAL FINANCIAL ASSISTANCE Ladies and Gentlemen: We have audited the general purpose financial statements (Exhibits A through D) of the Tattnall County Board of Education, as of and for the year ended June 30, 1994, as listed in the table of contents. These financial statements are the responsibility of the Board's management. Our responsibility is to express an opinion on these financial statements based on our audit. Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office ofManagement and Budget Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estinlates 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, 1994, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. 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: 94ARL-14 * The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. * School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. * The Board did not recognize as expenditures, in the year ended June 30, 1994, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1994. Also funds received, subsequent to June 30, 1994, from the Georgia Department ofEducation for the State's share 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, 1993, were improperly recorded in the year ended June 30, 1994. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material. In our opinion, except for the effects ofsuch adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Tattnall County Board of Education as of June 30, 1994, and the results ofits operations for the year then ended, in conformity with generally accepted accounting principles. As discussed in Note 1 to the general purpose financial statements, during fiscal year 1994, the Board changed its method of accounting to include revenues and expenditures associated with Federal donated commodities in its general purpose financial statements. This change is in accordance with generally accepted accounting principles. Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements ofthe Tattnall County Board ofEducation taken as a whole. The combining and individual fund statements (Exhibits E through J) and the financial schedules (Schedules 1 through 11 which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part of the general purpose financial statements ofthe Tattnall County Board ofEducation. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, except for the effect of adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects of the matters referred to in the fourth paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. 94ARL-14 A copy ofthis report has been filed as a pennanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. Respectfully submitted, ~~~ Claude L. Vickers State Auditor CLV:djf 94ARL-14 TATTNALL COUNTY BOARD OF EDUCATION - 1- ~ cash and cash Equivalents I -Held by Trustee Accounts Receivable Due from Other Funds Inventories Food Donated Commodities Purchased Food Amount Available In Debi Service Fund Amount to be Provided In Future Years For Payment of: Bond Debi Capital Lease Agreements GENERAL FUND $ 637,297.81 GOVERNMENTAL FUND SPECIAL CAPITAL REVENUE PROJECTS FUND FUND 385,799.35 $ 242,000.00 571,964.90 $ 412,645.35 42,752.34 8,533.34 Total Assets $ 1265097.16 $ 623250.58 $ 412645.35 LIA!!ILITIE!, l!NQ E!.!NQ laQ!.!ITY J.!All!l.!.I!ll cash O\lerdralt Accounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Relainages Payable Due to Other Funds Deferred Revenue Deferred Compensation Plan C&pital Lease Agreements General Obligation Bonds Payable Total Liabilities FUND EQ!,!ITY Fund Balances Reserved For Bus Replacement Funds For Continuation or Federal Program For Debi Service For Inventories Food Donated Commodities Purchased Food For Purpoaes of Bond Issue For State capital Outlay Projects For Tattnall County High School Sports Complex Unreserved Undesignaled Total Fund Equity $ 38,588.97 $ 35,010.53 $ 6,525.40 56,406.66 138,255.57 23.94 2,316.00 17,027.03 242,000.00 $ 6525.40 $ 235 593.14 $ 294037.56 $ 42,752.34 8,533.34 $ 30,509.68 88,098.11 $ $ 1 258571.76 $ 1258571.76 $ 51,285.68 $ 336371.76 387657.44 $ 118,607.79 0.00 118607.79 Total Liabilities and Fund Equity $ 1265097.16 $ The - to the general purpose financial statements are an integral part of this statement. -2- 623250.58 $ 412645.35 EXHIBIT"A" TYPES DEBT SERVICE FUND FIDUCIARY FUND TYPES TRUST AND AGENCY FUNDS $ 172,124.99 $ 24,7e8.25 344,375.80 12,423.45 34.68 ACCOUNT GROUP GENERAL LONG-TERM DEBT TOTALS (Memorandum On!l} JUNE 30 1994 JUNE30 1993 834,211.05 $ 1,860,309.62 344,375.80 320,829.99 1,382,867.73 577,942.33 242,000.00 42,752.34 8,533.34 50,671.28 9,127.78 $ 184,548.44 184,548.44 166,261.70 3,390,451.56 409158.49 3,390,451.56 409158.49 3,523,738.30 $ 184548.44 $ 369198.73 $ 3 984 158.49 $ 6 838 898.75 $ 6 508e81.00 $ 73,599.50 62,934.06 $ 29,878.n 138,255.57 125,549.59 23.94 100.03 155,548.12 17,027.03 307,407.35 242,000.00 2,316.00 $ 344,375.80 344,375.80 320,829.99 $ 409,158.49 409,158.49 3575000.00 3575000.00 3690000.00 $ 344375.80 $ 3 984 158.49 $ 4 864 690.39 $ 4629313.85 $ 184,548.44 $ 184,548.44 0.00 $ $ 184548.44 $ $ 184548.44 $ 24822.93 24822.93 369198.73 $ $ 69,597.33 1,845.62 $ 184,548.44 166,261.70 42,752.34 8,533.34 30,509.68 es,098.11 50,671.28 9,127.78 22,661.61 4,145.44 27107.41 354,441.91 $ 351,418.17 1619766.45 1 528148.98 $ 1 974208.36 $ 1879567.15 3 984 158.49 $ 6838898.75 $ 6508 e81.00 3. TATTNALL COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND YEAR ENDED JUNE 30 1994 REVENUES State Funds Federal Funds Local and Other Funds Total Revenues EXPENDITURES Current lnstruetion Support Services Pupil Services lmpr0\1811'1en1 of Instructional Services Educational Madia Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services Capital Outlay Debt Service Principal Interest Paying Agent F - Total Expenditures Excess of Revenues over (under) Expenditures OTHER FINANCING SOURCES (USES) Capital Leases Operating Transfers In Operating Transfers Out Total Other Financing Sources (Uses) Excess of Revenues and Other Financing Sources over (under) Expendttures and Other Financing Uses FUND BALANCE JULY 1 Food Inventory - Net Change in Period Donatad Commodities Purchased Food GENERAL FUND GOVERNMENTAL FUND SPECIAL CAPITAL REVENUE PROJECTS FUND FUND $ 9,089,989.99 $ 132,129.10 $ 49,798.42 1,743,642.78 2138793.33 240181.10 $ 11278581.74 $ 2115952.98 $ 500,743.46 5271.06 506014.52 $ 7,124,881.43 $ 911,342.30 223,771.20 231,883.41 237,845.25 285,243.62 664,205.49 57,794.40 1,260,738.00 714,638.64 13,729.23 161,838.14 589,879.55 18,760.22 42,103.49 17,660.54 10,366.23 28,161.58 8,181.40 662.10 1,170,977.19 855.59 $ 76,915.06 9,012.07 441,321.19 $ 11652375.49 $ 2 209 070.64 $ $ -373 793.75 $ -93117.66 $ 441 321.19 64693.33 $ 486,073.55 $ -1554.81 $ 484518.74 $ 1,554.81 1554.81 110,724.99 $ 1,147,846.77 -91,562.85 $ 487,733.67 -7,918.94 -594.44 64,693.33 53,914.46 FUND BALANCE JUNE 30 $ 1258571.76 $ 387657.44 $ 118607.79 The notes to the general purpose financial -ements are an integral part of this statement. -4- EXHIBIT"B" TYPES DEBT SERVICE FUND TOTAL FIDUCIARY FUND TYPE EXPENDABLE TRUST FUNDS TOTALS (Memorandum Onll) YEAR ENDED JUNE30 1994 JUNE30 1993 $ 9,722,862.55 1,793,441.20 $ 400589.82 2 784 835.31 $ $ 400589.82 $ 14 301 139.06 $ $ 1012.38 9,722,862.55 $ 1,793,441.20 2785847.69 11,539,869.53 1,774,378.52 3259326.12 1 012.38 $ 14302151.44 $ 16573574.17 $ 8,036,223.73 $ 242,531.42 273,986.90 255,505.79 295,609.85 664,205.49 57,794.40 1,260,738.00 742,800.22 8,181.40 14,391.33 1,170,977.19 162,693.73 1,031,200.74 $ 115,000.00 265,480.00 1 823.08 191,915.06 274,492.07 1823.08 382303.08 $ 14 685 070.40 $ $ 18286.74 $ -383 931 .34 $ 0.00 $ 8,036,223.73 $ 7,850,912.78 242,531.42 273,986.90 255,505.79 295,609.85 664,205.49 57,794.40 1,260,738.00 742,800.22 8,181.40 14,391.33 1,170,977.19 162,693.73 1,031,200.74 236,693.18 279,116.42 289,020.56 312,034.20 596,536.38 59,218.95 821,072.16 606,573.89 21,210.94 878,256.61 128,565.28 4,683,136.11 191,915.06 274,492.07 1823.08 110,000.00 275,380.00 1804.30 0.00 $ 14685070.40 $ 17149531.76 1 012.38 $ -382 918.96 $ -575957.59 $ 486,073.55 1,554.81 -1554.81 $ 486073.55 $ 18,286.74 $ 102,142.21 $ 166,261.70 1,855,756.60 -7,918.94 -594.44 $ 486,073.55 1,554.81 -1554.81 486073.55 1,012.38 $ 23,810.55 103,154.59 $ 1,879,567.15 -575,957.59 2,450,732.78 -7,918.94 -594.44 13,076.80 -8284.84 $ 184548.44 $ 1 949 385.43 $ 24822.93 $ 1,974,208.36 $ 1879567.15 -5- TATTNALL COUNTY BOARP OF EDUCATION CQMalNEQ SIAIEMENT OF RE~NUE E~efNDIT~JBI; ~Q C~E~ I~ BU~Q ~I ~Cf~ 6CT~ ANQ 6UOGl;T - go~RNMENT61 EUNQ mfS YEAR fNPfP JUNE 30 1994 EXHIBIT"C" ACTUAL PER EXHIBIT"B" ADJUSTMENTS ACTUAL PER BUDGET BASIS BUDGET VARIANCE FAVORABLE (!!NFAVORABLE) REVENUES State Funds Federal Funds Local and Other Funds 9,722,862.55 $ 1,793,441.20 2,784,835.31 0.00 $ 9,722,862.55 $ 9,561,636.00 $ 1,793,441.20 1,338,992.00 2,784,835.31 2,615,105.00 161,226.55 454,449.20 169,730.31 Total Revenues 14,301,139.06 $ 0.00 $ 14,301,139.06 $ 13,515,733.00 $ 785,406.06 Ei~NQITUR~ Current Instruction Suppgrt Services Pupil Services Improvement of Instructional Services Educational Media Services General /lv:Jministration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Olher Support Services Food Sarvices Operation Other Operations of Non-Instructional Services Capital Outlay Debt Sarvice 8,036,223.73 $ 242,531.42 273,986.90 255,505.79 295,609.85 664,205.49 57,794.40 1,260,738.00 742,800.22 8,181.40 14,391.33 1,110,9n.19 162,693.73 1,031,200.74 468,230.21 0.00 $ 8,036,223.73 $ 8,331,600.00 $ 242,531.42 273,986.90 255,505.79 295,609.85 664,205.49 57,794.40 1,260,738.00 742,800.22 8,181.40 14,391.33 1,110,9n.19 162,693.73 1,031,200.74 468,230.21 236,225.00 246,570.00 235,244.00 325,364.00 6n,011.oo 61,800.00 1,008,239.00 653,984.00 0.00 24,185.00 1,132,000.00 160,102.00 1,811,831.12 382,280.00 295,376.27 -6,306.42 -27,416.90 -20,261.79 29,754.15 12,865.51 4,005.60 -252,499.00 .aa,81622 -8,181.40 9,793.67 -38,9n.19 -2,591.73 780,630.38 -85,950.21 Total Expenditures 14,685,070.40 $ 0.00 $ 14,685,070.40 $ 15,286,495.12 $ 601,424.72 Excess of Revenues over (under) Expenditures -383,931.34 $ 0.00 $ -383,931.34 $ -1,770,762.12 $ 1,386,830.78 OTHER FINANCING SOURCES (!.!SES} Other Sources Other Uses 487,628.36 $ -1,554.81 0.00 $ 487,628.36 $ -1,554.81 205,000.00 $ 0.00 282,628.36 -1,554.81 Total Other Financing Sources (Uses) 486,073.55 $ 0.00 $ 486,073.55 $ 205,000.00 $ 281,073.55 Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ 102,142.21 $ 0.00 $ 102,142.21 $ -1,565,762.12 $ 1,867,904.33 FIJND BALANCE JULY 1 1993 1,855,756.60 -59,799.06 1,795,957.54 2,315,870.27 -519,912.73 ADJUSTMENTS Prior Year (Net) 0.00 0.00 -30,822.58 30,822.58 FOOD INVENTORY - NET CHANGE IN PERIOD Donated Commodities Purchased Food -7,918.94 7,918.94 0.00 0.00 -594.44 594.44 0.00 0.00 FUND BALANCE JUNE 30 1994 1,949,385.43 $ -51,285.68 $ 1,898,099.75 $ 719,285.57 $ 1,178,814.18 The notes to the general purpose financial statements are an integral part of this statement. TATTNALL COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Tattnall County Board ofEducation (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board and Superintendent, both elected by the voters. With the exception of the departures from generally accepted accounting principles disclosed in the following paragraphs, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards. The more significant ofthe Board's accounting policies are described below. REPORTING ENTITY In evaluating how to define the government unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, "Defining the Financial Reporting Entity". The primary government consists of all the organizations that compose the legal entity ofthe Tattnall County Board of Education. Based upon the application ofthe above criteria, the Tattnall County Board ofEducation is determined to be the lowest level of government exercising oversight responsibility and control over all activities related to public education in Tattnall County, Georgia. The Board is not included in any other governmental "reporting entity" as defined by GASB Codification ofGovernmental Accounting and Financial Reporting Standards. Board members were elected by the public and have decision making authority, the power to designate management, except for the Superintendent who was also elected, the ability to significantly influence operations, and primary accountability for fiscal matters. The Board determines the millage rate at which school taxes are levied and may incur bonded indebtedness with voter approval. FUND ACCOUNTING The Board uses funds and an account group to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. General Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. - 7- TATTNALL COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. The general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: GOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's general 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 traditionally provided by a board of education. SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund; however, the Board chooses not to provide for depreciation, but to maintain the fund on a modified accrual basis and to report the fund as a special revenue fund under governmental fund types, which is acceptable under generally accepted accounting principles for governmental entities. CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. DEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees. FIDUCIARY FUND TYPES - the trust and agency 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: EXPENDABLE TRUST FUND 4-H Oub Trust Fund - the fund used to account for proceeds from the sale of 4-H property and used to provide for the assistance of Tattnall County children enrolled at the College of Agriculture of the University of Georgia. - 8- TATTNALL COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AGENCY FUNDS - the funds used to account for assets held for individuals. ACCOUNT GROUP GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for general obligation bonds outstanding and material capital lease obligations. BASIS OF ACCOUNTING The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds and the expendable trust fund are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are . included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. Liabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. The Agency funds are purely custodial in nature and do not involve measurement of results of operations. Governmental funds and the expendable trust fund are accounted for using the modified accrual basis of accounting under which: Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount ofthe transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Property taxes are considered available ifthey are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end. Expenditures are generally recognized when the related fund liability is incurred. A departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share ofthese contracts. During fiscal year 1994, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1993 and ending in early June 1994. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1993 and ending in August 1994. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the - 9- TATTNALL COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Board in the same twelve months. As ofJune 30, 1994, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1994, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1994. Also, the State's portion of the compensation paid in July and August 1994 was received and recorded as revenue in the fiscal year subsequent to June 30, 1994. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were recorded in the year ended June 30, 1994. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. The Agency funds are accounted for using the modified accrual basis of accounting in recognizing assets and liabilities. BUDGET Tattnall County Board of Education has a legally authorized nonappropriated budget which is formally approved by the Board at the aggregate level. Budgets are prepared to provide a basis for funding operations and there is no legal prohibition regarding overexpenditure of the aggregate budget. The budget process begins when the Board's administration prepares a tentative aggregated budget for the Board's approval After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. The Board prepares its budget on the modified accrual basis, which is the same basis on which it presents its financial statements. The budget comparison on Exhibit "C" presents actual and budget data for all governmental funds on a combined basis. To facilitate comparison with the budget, donated and purchased food inventories as reflected on Exhibit "B" have been eliminated from fund balance. CASH AND CASH EQUIVALENTS COMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits (including certificates of deposit and N.O.W. accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement ofproceeds from bond issues in certificates ofdeposit is limited to financial institutions located within this State. - 10 - TATTNALL COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES INVESTMENTS HELD BY TRUSTEE Investments held by trustee consist of contributions from employees who have elected to participate in the Board's deferred compensation plan. See Note 9 - Deferred Compensation Plan RECEIVABLES Receivables consist ofgrant reimbursements due from Federal, State or other granters 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 Tattnall County Board ofCommissioners fixed the property tax levy for the 1993 tax year (calendar year) on October 23, 1993 (levy date). Taxes were due on February 1, 1994. The lien date for property taxes was January 1, 1993. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1994 since their collection meets the criteria of GASB codification section P70. l 03. The Tattnall 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. Tax millage rates levied for the 1993 tax year (calendar year) for the Tattnall County Board of Education were as follows (a mill equals $1 per thousand dollars of assessed value): School Operations School Bonds 11.43 mills 2.22 mills 13 65 mills INVENTORIES FOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost. Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which indicates that these amounts do not constitute "available spendable resources" even though they are a component of net current assets. - 11 - TATTNALL COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES For fiscal year 1994, the Board began accounting for donated food commodities by recording revenues and expenditures associated with donated food commodity items received and consumed by the Board. The reporting of the revenues and expenditures associated with donated commodities is a change in accounting principles. GENERAL OBLIGATION BONDS The Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group. INTERFUND TRANSACTIONS The Board has the following types ofinterfund transactions: Reimbursements ofexpenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. Operating transfers are recorded for all interfund transactions other than reimbursements. MEMORANDUM ONLY -TOTAL COLUMNS Total columns on the general purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Note 2: DEPOSITS COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral in an amount ofnot less than 110 percent of the public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. - 12 - TATTNALL COUNTY BOARD OF EDUCATION EXI-IlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 2: DEPOSITS 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 ofindebtedness or other direct obligations of the United States or of the State of Georgia, (4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities ofthe State of Georgia, (5) Bonds ofany public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, (6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and (7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. CATEGORIZATION OF DEPOSITS At June 30, 1994, the bank balances were $1,782,484.67, which includes a negative balance of$1,638.44. The amounts of the total bank balances are classified into three categories of credit risk: Category 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. Category 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) - 13 - TATTNALL COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 2: DEPOSITS The Board's deposits are classified by risk category at June 30, 1994, as follows: Risk Category 1 2 3 Total Note 3: NON-MONETARY TRANSACTIONS Bank Balance $ 124,788.25 1,505,668.00 153 666.86 $ l 784 123 11 The Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories Note 4: INTERFUND ASSETS AND LIABILITIES Due to and due from other funds are recorded for interfund receivables and payables which arise from interfund transactions. The following analysis summarizes the status of all interfund transactions of the Board at June 30, 1994: Due From Other Funds Due to Other Funds General Fund $ 242,000.00 Capital Projects Fund 1990 Bond Issue Fund $ 242 000.00 $ 242 000 00 $ 242 OQQ QQ Note 5: RISK MANAGEMENT The Board has established a limited risk management program for Unemployment Compensation. Estimated claims are budgeted by management based on known claims and prior experience. During fiscal year 1994, a total of$10,286.85 was paid in claims. Note 6: GENERAL LONG-TERM DEBT CAPITAL LEASES The Tattnall County Board ofEducation has entered into various lease agreements as lessee for the purchase of equipment. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value of the future minimum lease payments as of the date of their inception. - 14 - TATTNALL COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 6: GENERAL LONG-TERM DEBT The changes in General Long-Term Debt during the fiscal year ended June 30, 1994, were as follows: Capital Leases General Obligation Bonds Total Balance July 1, 1993 $ 0.00 $ 3,690,000.00 $ 3,690,000.00 Additions 486,073.55 486,073.55 Deletions 76 915.06 115 000.00 191 915.06 Balance June 30, 1994 $ 402 ]~8 49 $ ;l 575 000 00 $ 3 98~ 15849 At June 30, 1994, payments due, by fiscal year which includes principal and interest for these items are as follows: Fiscal Year Ended June 30 Capital Leases General Obligation Bonds Total Debt 1995 1996 1997 1998 1999 2000 and thereafter Total Principal and Interest $ 108,934.80 108,934.80 39,960.00 39,960.00 39,960.00 173 160.00 $ 510 909.60 $ 380,130.00 378,880.00 376,730.00 373,680.00 372,287.50 4176455.00 $ 6 058 162 50 $ 489,064.80 487,814.80 416,690.00 413,640.00 412,247.50 4 349 615.00 $6 569 on 10 Deduct Imputed Interest $ 101 751.11 Net Present Value ofFuture Minimum Lease Payments $ 409 158 49 Note 7: SIGNIFICANT COMMITMENTS At June 30, 1994, the Board had encumbrances in the amount of $231,871.75 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with the Lottery Programs. Lottery funds in the amount of $224,703.51 are available to furid these encumbrances. The revenues and expenditures associated with these encumbrances will be recognized in the subsequent fiscal year. - 15 - TATTNALL COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 7: SIGNIFICANT COMMITMENTS Encumbrances outstanding do not constitute expenditures or liabilities in the current year because these commitments will be honored during the subsequent year. These encumbrances are identified by Lottery Program as follows: Algebra Classroom Computers in Classroom Distant Learning Media Centers and Library Equipment Safe Schools Grant $ 2,370.88 45,533.56 4,215.92 72,267.39 107 484.00 $ 23) 871 75 The amounts described in this note are not reflected in the general purpose financial statements. Note 8: CONTINGENT LIABILITIES Amounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. The Board is a defendant in a legal proceeding pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition ofthis proceeding is not presently detenninable, but is not believed to be material to the general purpose financial statements. Note 9: DEFERRED COMPENSATION PLAN The Board offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all Board employees, pennits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees 'until tennination, retirement, death or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the Board subject only to the claims of the Board's general creditors. Participants' rights under the plan are equal to those of general creditors of the Board in an amount equal to the fair market value of the deferred account for each participant. It is the opinion ofthe Board that the Board has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The Board believes it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. - 16 - TATTNALL COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 9: DEFERRED COMPENSATION PLAN Investments are managed by the plan's trustee, ITT Hartford Insurance Group, under an investment option, or a combination of investment options, made by the participants. Note 10: RETIREMENT PLANS TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) TRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS). TRS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for service retirement after 30 years of creditable service, regardless of age, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. Retirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death. Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contnbutions are refunded with interest. The Board's payroll for employees covered by TRS for the year ended June 30, 1994, was $6,884,404.38; total payroll was $7,955,533.59. TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required to contribute 6% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees as advised by their independent actuary. For fiscal year 1994 that rate for employer contributions was 11.81%. The interest rate assumption (rate ofretum on investments) was 7.50%. - 17 - TATTNALL COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE30 1994 Note 10: RETIREMENT PLANS Total contnbutions made during fiscal year 1994 amounted to $1,227,336.56, of which $814,271.08 was made by the Board and $413,065.48 was made by employees. These contributions represented 11.81% (Board) and 6% (employees) of covered payroll. TRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers. Total unfunded pension benefit obligation ofTRS as ofJune 30, 1993, was as follows: Total pension benefit obligation $13,912,014,000.00 Net assets available for benefits, at cost 12 821 722 000.00 Unfunded pension benefit obligation $ 1 090 292 000 00 The measurement ofthe total pension benefit obligation is based on an actuarial valuation as of June 30, 1993. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers. Total contributions from all employers to TRS for fiscal year ended June 30, 1994 were $521,550,000.00. The Board's contribution for the year ended June 30, 1994 of$814,271.08 was actuarially determined and represented .1561% of total contributions made by all participating employers. Ten year historical trend information is presented in the 1994 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due. PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS) PSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System of Georgia (PSERS). All employer's contributions are made by the State of Georgia. - 18 - TATTNALL COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 10: RETIREMENT PLANS PSERS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for nomial service retirement after 10 years ofservice and attainment of age 65. A member applying for service retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number of years of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. Retirement provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent upon the number ofyears of service. If there are less than ten years of service, a lump sum refund ofthe employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life half of what the employee would have received upon retirement. Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest. There were 84 employees covered under PSERS for the year ended June 30, 1994. PSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1994 amounted to $2,776.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1994, was $9,150,000.00. Note 11: SURETY BONDS The School Superintendent, Mr. Ronald E. McCall, is bonded in the amount of$50,000.00 with the Selective Insurance Company of America, Branchville, New Jersey, their Bond No. B77599, on which premium was paid through January 1, 1995. - 19 - TATTNALL COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30 1994 ASSETS Cash and Cash Equivalents Accounts Receivable Inventories Food Donated Commodities Purchased Food ELEMENTARY AND SCHOOL FOOD SERVICES FUND LOTTERY PROGRAMS CHAPTER 1 EDUCATION OF DEPRIVED MIGRANT CHILDREN PROGRAM $ 284,209.33 $ 2,316.00 102,358.57 24,144.10 $ 309,825.48 $ 62,407.05 42,752.34 8,533.34 Total Assets $ 437,853.58 $ 26,460.10 $ 309,825.48 $ 62,407.05 LIABILITIES AND FUND EQUITY LIABILITIES Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue Total Liabilities FUND EQUITY Fund Balances Reserved For Continuation of Federal Program For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated Total Fund Equity $ 203,859.62 $ 53,388.97 $ 9,602.44 $ 24,144.10 19,302.49 1,985.66 40,593.70 86,663.37 7,008.48 23.94 2,316.00 $ 50,196.14 $ 26,460.10 $ 309,825.48 $ 62,407.05 $ 42,752.34 8,533.34 $ 51,285.68 336,371.76 $ $ 387,657.44 $ 0.00 $ 0.00 $ 0.00 $ 0.00 0.00 $ 0.00 Total Liabilities and Fund Equity $ 437,853.58 $ 26,460.10 $ 309,825.48 $ 62,407.05 See notes to the general purpose financial -ements. -20- EXHIBIT"E" SECONDARY EDUCATION ACT TITLE 11- EISENHOWER CHAPTER2 MATHEMATICS BLOCK GRANT - AND SCIENCE FLOW THROUGH EDUCATION INDIVIDUALS WITH DISABILITIES EDUCATION ACT TITLE VI, B FLOW THROUGH TOTALS JUNE 30, 1994 JUNE 30, 1993 $ 286,525.33 $ 361,270.27 $ 29,236.00 $ 13,231.00 $ 30,762.70 571,964.90 221,801.19 42,752.34 8,533.34 50,671.28 9,127.78 $ 29,236.00 $ 13,231.00 $ 30,762.70 $ 909,775.91 $ 642,870.52 $ 29,236.00 $ 13,231.00 $ 25,398.71 $ 325,114.30 1,373.97 56,408.66 $ 29,487.23 3,990.02 138,255.57 125,549.59 23.94 100.03 2,316.00 $ 29,236.00 $ 13,231.00 $ 30,762.70 $ 522,118.47 $ 155,136.85 $ 1,845.62 $ 42,752.34 8,533.34 50,671.28 9,127.78 $ 51,285.68 $ 61,644.68 $ 0.00 $ 0.00 $ 0.00 336,371.76 426,088.99 $ 0.00 $ 0.00 $ 0.00 $ 387,657.44 $ 487,733.67 $ 29,236.00 $ 13,231.00 $ 30,762.70 $ 909,775.91 $ 642,870.52 -21- TATTNALL COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES SPECIAL REVENUE FUND YEAR ENDED JUNE 30 1994 REVENUES State Funds Federal Funds Local and other Funds Total Revenues EXPENDITURES Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration Student Transportation Services Central Support Services other Support Services Food Services Operation other Operations of Non-Instructional Services Total Expenditures Excess of Revenues over (under) Expenditures OTHER FINANCING SOURCES Operating Transfers In Excess of Revenues and Other Financing Sources over (under) Expenditures FUND BALANCE JULY 1 Food Inventory- Net Change in Period Donated Commodities Purchased Food SCHOOL FOOD SERVICES FUND ELEMENTARY AND LOTTERY PROGRAMS CHAPTER 1 EDUCATION OF DEPRIVED MIGRANT CHILDREN PROGRAM $ 75,902.00 $ 765,176.86 240,181.10 $ 1,081,259.96 $ 56,227.10 $ 56,227.10 $ 780,893.52 $ 78,003.16 780,893.52 $ 78,003.16 $ 33,637.64 $ 24,144.10 $ 1,170,977.19 $ 1,170,977.19 $ $ -89,717.23 $ 57,781.74 $ -1,554.64 $ 705,829.43 $ 18,760.22 36,348.22 10,256.56 8,181.40 662.10 855.59 780,893.52 $ 0.00 $ 73,985.68 4,017.48 78,003.16 0.00 1,554.64 $ -89,717.23 $ 485,888.05 -7,918.94 -594.44 0.00 $ 0.00 0.00 $ 0.00 0.00 0.00 FUND BALANCE JUNE 30 $ 387,657.44 $ 0.00 $ 0.00 $ 0.00 See notes to the general purpose financial statements. -22- EXHIBIT "F'' SECONDARY EDUCATION ACT TITLE 11- EISENHOWER CHAPTER2 MATHEMATICS BLOCK GRANT AND SCIENCE FLOW THROUGH EDUCATION INDIVIDUALS WITH DISABILITIES EDUCATION ACT TITLE VI, B FLOW THROUGH TOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993 $ 29,236.00 $ 13,231.00 $ $ 29,236.00 $ 13,231.00 $ $ n,102.24 TT,102.24 $ 132,129.10 $ 1,743,642.78 240,181.10 2,115,952.98 $ 74,612.00 1,718,911.55 245,436.47 2,038,960.02 $ 11,507.22 $ 9,279.92 $ 17,660.54 68.24 5,755.27 41.43 $ 29,236.00 $ 15,076.62 $ $ 0.00 $ -1,845.62 $ $ 0.00 $ -1,845.62 $ 0.00 1,845.62 $ 0.00 $ 0.00 $ TT,102.41 $ s n,102.41 -0.17 $ 911,342.30 $ 18,760.22 42,103.49 17,660.54 10,366.23 28,161.58 8,181.40 662.10 1, 170,9TT.19 855.59 2,209,070.64 $ -93,117.66 $ 955,292.31 7,669.62 44,560.81 30,869.56 2,183.97 3,250.46 10,716.44 878,256.61 1,932,799.78 106,160.24 0.17 1,554.81 0.00 $ 0.00 -91,562.85 $ 487,733.67 106,160.24 376,781.47 -7,918.94 -594.44 13,076.80 -8,284.84 0.00 $ 387,657.44 $ 487,733.67 -23- TATTNALL COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30 1994 ASSETS Cash and Cash Equivalents Accounts Receivable Total Assets LIABILITIES AND FUND EQUITY LIABILITIES Cash Overdraft Contracts Payable Retainages Payable Due to Other Funds Total Liabilities FUND EQUITY Fund Balances Reserved For Purposes of Bond Issue For State Capital Outlay Projects For Tattnall County High School Sports Complex Unreserved Undesignated Total Fund Equity Total Liabilities and Fund Equity REGULAR 1990 BOND ISSUE FUND $ 0.00 $ 272,509.68 $ 0.00 $ 272,509.68 $ 242,000.00 $ 242,000.00 $ 30,509.68 $ 30,509.68 $ 0.00 0.00 $ 0.00 $ 30,509.68 $ 0.00 $ 272,509.68 See notes to the general purpose financial statements. -24- EXHIBIT"G" GEORGIA STATE FINANCING AND INVESTMENT COMMISSION PROJECT PROJECT PROJECT 885-732-061 91-732-054 92-732-043 TOTALS JUNE 30, 1994 JUNE 30, 1993 $ 0.00 $ 88,098.11 $ 360,607.79 $ 516,869.93 $ 412,645.35 412,645.35 $ 0.00 $ 88,098.11 $ 412 645.35 $ 773,253.14 $ 516,869.93 $ 395,618.32 $ 395,618.32 $ 17,027.03 17,027.03 242,000.00 $ 412,645.35 $ 654,645.35 $ 155,548.12 307,407.35 462,955.47 $ 88,098.11 $ 88,098.11 $ 30,509.68 $ 88,098.11 $ 118,607.79 $ 22,661.61 4,145.44 27,107.41 53,914.46 $ 0.00 0.00 $ 0.00 0.00 0.00 $ 0.00 $ 88,098.11 $ 0.00 $ 118,607.79 $ 53,914.46 $ 0.00 $ 88,098.11 $ 412 645.35 $ 773,253.14 $ 516,869.93 -25- TATTNALL COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES CAPITAL PROJECTS FUND YEAR ENDED JUNE 30 1994 REVENUES state Funds Local and Other Funds Total Revenues EXPENDITURES 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 Residual EquITy Transfer FUND BALANCE JUNE 30 REGULAR 1990 BOND ISSUE FUND $ 58.43 $ 3,712.63 $ 58.43 $ 3,712.63 $ $ 15,838.14 11,327.70 $ 27,165.84 $ $ -27, 107.41 $ 10.00 10.00 3,702.63 $ -27,107.41 $ 27,107.41 3,702.63 22,661.61 4,145.44 $ 0.00 $ 30,509.68 See notes to the general purpose financial statements. -26- EXHIBIT"H" GEORGIA STATE FINANCING AND INVESTMENT COMMISSION PROJECT PROJECT PROJECT 888-732-061 91-732-054 92-732-043 TOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993 $ 0.00 $ 88,098.11 $ 412,645.35 $ 500,743.46 $ 2,940,325.25 1,500.00 5,271.06 44,203.40 $ 0.00 $ 88,098.11 $ 414,145.35 $ 506,014.52 $ 2,984,528.65 $ 0.00 $ 0.00 $ 10.00 $ 107,860.00 $ 414,145.35 429,983.49 4,528,339.35 11,327.70 $ 0.00 $ 0.00 $ 414,145.35 $ 441,321.19 $ 4,636, 199.35 $ 0.00 $ 88,098.11 $ 0.00 $ 64,693.33 $ -1,651,670.70 $ 0.00 $ 88,098.11 $ 4,145.44 0.00 -4,145.44 0.00 $ 0.00 $ 1,640,722.43 -1,640,722.43 $ 0.00 64,693.33 $ -1,651,670. 70 53,914.46 1,705,585.16 0.00 $ 0.00 $ 88,098.11 $ 0.00 $ 118,607.79 $ 53,914.46 -27- TATTNALL COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET FIDUCIARY FUND TYPES JUNE 30 1994 EXHIBIT"!" ASSETS Cash and Cash Equivalents Investments Held by Trustee Accounts Receivable EXPENDABLE TRUST FUND 4-HCLUB TRUST FUND AGENCY FUND TOTALS JUNE 30 1994 JUNE30 1993 $ 24,788.25 $ 24,788.25 $ 23,780.65 $ 344,375.80 344,375.80 320,829.99 34.68 34.68 29.90 Total Assets $ 24,822.93 $ 344375.80 $ 369,198.73 $ 344640.54 LIABILITIES AND FUND EQUITY LIABILITIES Deferred Compensation Plan FUND EQUITY Fund Balances Unreserved Undesignated $ 24822.93 344,375.80 $ 344,375.80 $ 320,829.99 0.00 24822.93 23 810.55 Total Liabiltties and Fund Equtty $ 24822.93 $ 344,375.80 $ 369,198.73 $ 344,640.54 See notes to the general purpose financial statements. -28- TATTNALL COUNTY BOARD OF EDUCATION STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FIDUCIARY FUND TYPE -AGENCY FUND YEAR ENDED JUNE 30 1994 EXHIBIT"J" DEFERRED COMPENSATION PLAN ASSETS Investments Held by Trustee BALANCE JULY1 1993 ADDITIONS DEDUCTIONS BALANCE JUNE 30, 1994 $ 320,829.99 $ 33,545.81 $ 10,000.00 $ 344,375.80 LIABILITIES Deferred Compensation Plan $ 320,829.99 $ 33,545.81 $ 10,000.00 $ 344,375.80 See notes to the general purpose financial statements. -29- IATTNAbb CQ!,!NIY llOARQ OF l;DUCATION SCH!;;DULE OF FEDERAL FINANCIAL l!,SSISTANCla YEAR ENQl;Q JUNE 30 1994 SCHEDULE 1 FUNDING AGENCY PRQGRAM/GRANT CFDA NUMBER AWARDS IN PERIOD FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) FEDERAL REVENUE IN PERIOD EXPENDITURES IN PERIOD Agriculture, U. S. Department of Through Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1993 Grant 1994 Grant National School Lunch Program 1993Grant 1994Grant Food Distribution Program (1) 10.553 10.553 $ $ 151,616.10 10.555 10.555 10.550 547,309.67 66251.09 18,425.89 129,787.72 $ 151,616.10 (2) 76,492.59 467,343.64 N/A 547,309.67 $ 66251.09 1,104,726.10 (3) 66251.09 Total U. S. Department of Agriculture $ 765176.86 $ 692049.84 $ 765,176.86 $ 1170977.19 Education, U. S. Department of Direct P. L. 81-874 1994Grant Through First District Regional Educational Se!vice Agency d/b/a Live oak Migrant Education Agency Elementary and 5econdary Education Act Chapter 1 Migratory Education Program 1993 Regular 1993Summer 1994Regular 1994Summer Through Georgia Department of Education Elementary and secondary Education Act Chapter 1 Education of Deprived Children 1993 Regular 1993 carry-Over 1994Regular Chapter2 Block Grant - Flow Through 1994Regular Tillell Eisenhower Mathematics and Science Education 1993Regular 1994Regular Individuals with Disabillties Education Act TltleVl,B Flow Through 1992 Carry-Over - Innovative Special Education Proposal 1993Regular 1993 carry-Over 1994Regular 84.041 $ 84.011 84.011 84.011 84.011 84.010 84.010 84.010 84.151 84.164 84.164 84.027 84.027 84.027 84.027 7,647.00 $ 55,173.46 20,784.40 118,428.00 697,828.00 29,236.00 13,231.00 1,000.00 77,262.00 7,647.00 $ 7,647.00 (5) 8,977.71 22,034.63 15,620.05 $ 53,840.39 8,542.72 15,620.05 53,840.39 8,542.72 96,542.90 56,185.00 414,883.04 118,428.00 662,465.52 29,236.00 118,428.00 662,465.52 29,236.00 13,231.00 1,845.62 13,231.00 9,576.90 5,091.58 46,339.54 1,000.00 76,102.24 1,000.00 76,102.41 (3) - 30 - TATTNAL I COIJNTY BOARD OF EDIJCATION SCHEDIJI E OF FEDERAL FINANCIAL ASSISTANCE YEAR ENDED JUNE 30 1994 SCHEDULE "1" FUNDING AGENCY PROGRAM/GRANT CFDA NUMBER AWARDS IN PERIOD FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) FEDERAL REVENUE IN PERIOD EXPENDITURES IN PERIOD Education, U.S. Department of Through Georgia Department of Education Vocational Education - Basic Grants to States High School Program Basic Grant 1993 Grant 84.048 $ 48,710.97 1994Grant 84.048 $ 42,151.42 $ 42,151.42 (4) Supplementary State Grants for Facilities 1993 Contract 84.253 1865.00 Total U.S. Department of Education $ 1 062741.28 $ 717 854.27 $ 1 028,264.34 $ 980311.71 Total Federal Financial Assistance $ 1827918.14 $ 1409904.11 $ 1793441.20 $ 2151 288.90 Major Programs are identified by an asterisk r) in front of the CFDA number. (1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonrnonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. (2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1994 National School Lunch Program. (3) Expenditures for this program include State, and/or Local and other Funds. Expenditures are not maintained by fund source. (4) Expenditures on this program were not maintained by fund source. (5) Funds earned on this program do not require reporting of expenditures. See notes to the general purpose financial statements. - 31 _. TATTNALL COUNTY BOARD OF EDUCATION ANALYSIS OF CASH AND CASH EQUIVALENTS JUNE 30 1994 SCHEDULE "2" INTEREST BEARING ACCOUNTS First Citizens Bank, Glennville, Georgia Certificate of Deposit No. 16398 (4.00%) N.O.W. Accounts (4.25%) The Tattnall Bank, Reidsville, Georgia Certificate of Deposit No. 23365 (4.25%) OTHER Petty Cash $ 18,241.68 717,536.62 $ 735,778.30 24,788.25 $ 760,566.55 45.00 $ 760,611.55 See notes to the general purpose financial statements. - 32 - TATTNALL COi JNTY BOARD OF EDUCATIQN ACGQI INTS RECEIVABLE JUNE 30 1994 SCHEDULE ''3" Education, Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education state Funds Federal Funds Lottery Program Safe School Grant Federal Programs Elementary and Secondary Education Act Chapter1 Education d Deprived Children Chapter2 Block Grant - Flow Through Tltlell Eisenhower Mathematics and Science Education Individuals with Disabilities Education Act Title VI, B Flow Through Olhe,lm~ion d School Based Leadership Program First District Regional Educational Service Agency dlb/a UYe oak Migrant Education Agency ESEA Chapter 1 Migratory Education Program Georgia state Financing and Investment Commission Reimbursement on Construction Pmjec1s Tattnall County Tax Commissioner County Wide Bond Tax County Wide School Tax Various Sources Interest Earned GOVERNMENTAL FUND TYPES SPECIAL CAPITAL DEBT GENERAL REVENUE PROJECTS SERVICE ~ ~ ~ ~ FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND $ 21,828.38 79,966.03 $ 279,096.96 42,151.42 24,144.10 309,825.48 29,236.00 13,231.00 30,762.70 2,000.00 62,407.05 62,550.97 $ 412,645.35 $ 12,423.45 34.68 TOTAL 21,828.38 79,966.03 279,096.96 42,151.42 24,144.10 309,825.48 29,236.00 13,231.00 30,762.70 2,000.00 62,407.05 412,645.35 12,423.45 62,550.97 598.84 s ~ s s11 964.90 s ~ s 12 423.45 s _ _..;34=.sa~ s , 3s2,861.n See notes to the general purpose financial statements - 33 - TATTNALL COUNTY BOARD OF EDUCATION DEBT SERVICE REQUIREMENTS TO MATURITY JUNE 30 1994 SCHEDULE "4" PAYMENTS DUE IN FISCAL YEAR ENDING JUNE 30 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 TOTAL DEBT SERVICE 1990 ISSUE INTEREST PRINCIPAL $ 380,130.00 $ 255,130.00 $ 378,880.00 243,880.00 376,730.00 231,730.00 373,680.00 218,680.00 372,287.50 207,287.50 125,000.00 135,000.00 145,000.00 155,000.00 165,000.00 376,480.00 374,600.00 376,965.00 378,230.00 378,380.00 196,480.00 184,600.00 171,965.00 158,230.00 143,380.00 180,000.00 190,000.00 205,000.00 220,000.00 235,000.00 382,400.00 379,550.00 380,650.00 380,350.00 383,650.00 127,400.00 109,550.00 90,650.00 70,350.00 48,650.00 255,000.00 270,000.00 290,000.00 310,000.00 335,000.00 385,200.00 25,200.00 360,000.00 $ 6,058,162.50 $ 2,483,162.50 $ 3,575,000.00 CHANGES IN GENERAL LONG-TERM DEBT Bonds Payable at July 1, 1993 Bonds Retired During Period Bonds Payable at June 30, 1994 $ 3,690,000.00 115,000.00 $ 3,575,000.00 MATURITY DATES Semi-Annual Interest Payment Dates Annual Debt Retirement Date See notes to the general purpose financial statements. - 34 - APR1-OCT1 APR 1 TATTNALL COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30 1994 SCHEDULE "5" AGENCY/FUNDING GRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center. Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Special Instructional Assistance In-School Suspension Mid-term Adjustment Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Mentor Teacher Program Supervision and Assessment of Student and Beginning Teachers and PerformanceBased Certification Teachers' Retirement Lottery Programs Computers in Classrooms Safe Schools Grant Financing and Investment Commission, Georgia State Reimbursement on Construction Projects Georgia Public Telecommunication Commission Lottery Program Distant Leaming CONTRACT Education, Georgia Department of School Based Leadership Program GOVERNMENTAL FUND TYPES SPECIAL CAPITAL GENERAL REVENUE PROJECTS FUND FUND FUND TOTAL $ 5,374,366.00 579,566.00 157,570.00 231,447.00 72,222.00 1,571,751.00 348,691.00 103,115.00 262,163.00 66,639.00 36,251.00 -803,830.00 770,415.00 312,000.96 3,600.00 B00.00 1,223.03 75,902.00 27,348.00 24,144.10 $ 5,374,366.00 579,566.00 157,570.00 231,447.00 72,222.00 1,571,751.00 348,691.00 103,115.00 262,163.00 66,639.00 36,251.00 . -803,830.00 770,415.00 75,902.00 312,000.96 3,600.00 B00.00 1,223.03 27,348.00 24,144.10 500,743.46 500,743.46 4,735.00 4,735.00 2,000.00 2,000.00 $ 9 089 989.99 $ 132129.10 $ 500 743.46 $ 9 722,862.55 See notes ID the general purpose financial statements. - 35 - TATTNALL COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE YEAR ENDED JUNE 30 1994 SCHEDULE"6" GOVERNMENTAL FUND TYPES SPECIAL CAPITAL GENERAL REVENUE PROJECTS FUND FUND FUND DEBT SERVICE FUND FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND TOTAL Taxes County Wide Bond Tax County Wide School Tax RaHroad Car Tax Real Estate Transfer Tax $ 2,060,990.70 1,943.94 3,921.52 $ 396,837.32 370.27 746.96 $ 396,837.32 2,060,990.70 2,314.21 4,668.48 Other Compensation for Loss of Assets Donations Interest Earned Rents Sales Breakfast Lunches School Assets Tuition Other 584.54 2,000.00 22,119.36 $ 1,300.00 13,796.99 $ 9,281.44 18,146.86 18,504.97 5,466.39 220,618.00 299.n 3,771.06 1,500.00 2,635.27 $ 1,012.38 584.54 2,000.00 43,335.06 1,300.00 5,466.39 220,618.00 9,281.44 18,146.86 20,304.69 $ 2,138,793.33 $ 240,181.10 $ 5,271.06 $ 400,589.82 $ 1,012.38 $ 2,785,847.69 See notes to the general purpose financial statements. 36. TATTNALL COUNTY BOARD OF EDUCATION SCHEDULE OF l;;XPENDITURES BY OBJECT GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30 1994 SCHEDULE "7" EXPENDII!.!BES Operating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Compensation and Travel of Board Members Water, Sewer and Cleaning Services Repair and Maintenance Services Insurance Communications Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Interest Expense Other Expenditures Nonoperating Costs Principal and Interest Land and Land Improvements Building and Bu~ding Improvements Equipment GENERAL FUND SPECIAL REVENUE FUND TOTAL $ 6,971,716.02 $ 983,817.57 $ 7,955,533.59 1,448,266.37 213,443.00 1,661,709.37 25,412.84 3,879.88 29,292.72 53,288.93 81,224.51 134,513.44 11,760.06 11,760.06 26,786.77 820.00 27,606.77 245,637.60 14,195.42 259,833.02 66,636.00 66,636.00 41,790.48 3,069.53 44,860.01 4,886.27 4,886.27 10,449.00 10,449.00 23,307.74 23,307.74 676,477.02 123,801.35 800,278.37 412,176.11 2,925.00 415,101.11 517,718.43 517,718.43 193,477.23 391.42 193,868.65 12,658.82 4,084.62 16,743.44 2,588.79 2,588.79 1,201.84 245.49 1,447.33 85,927.13 2,300.00 356,326.70 984,190.04 254.568.15 85,927.13 2,300.00 356,326.70 1,238,758.19 Total Expenditures $ 11,652,375.49 $ 2,209,070.64 $ 13,861,446.13 See notes to the general purpose financial statements. - 37 - TATTNALL COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT LOTTERY PROGRAMS YEAR ENDED JUNE 30 1994 SCHEDULE "8" EXPENDITURES Operating Costs Repair and Maintenance Services Supplies Nonoperating Costs Equipment COMPUTERS IN CLASSROOMS SAFE SCHOOLS GRANT G.P.T.C. DISTANT LEARNING TOTAL $ $ 28,899.00 $ 24 144.10 500.00 $ 4,238.64 500.00 4,238.64 53 043.10 Total Expenditures $ 28,899.00 $ 24,144.10 $ 4,738.64 $ 57,781.74 See notes to the general purpose financial statements. - 38 - TATTNALL COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30 1994 SCHEDULE "9" Minimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis Salaries Operations Less: Expenditures for Staff Development Programs in Excess of Total Staff Development Allotment for: Cost of Instruction Expenditures per Audtt Amount of Underexpenditure for Total Allotment THIRTEEN WEIGHTED AND MEDIA CENTER PROGRAMS STAFF DEVELOPMENT PROGRAM $ 6,379,200.00 $ 72,222.00 $ 6,169,176.34 422,295.98 $ $ 6,591,472.32 $ 72,499.66 72,499.66 $ 6,591,472.32 $ -277.66 72,222.00 $ 0.00 $ 0.00 See notes to the general purpose financial statements. - 39 - TATTNAI I ml INIY RQABQ OF ECX ICATION ANAi vs,s OF u1N1uuu FXPENPm 'Bf BFornBfMfNTS - ex PROGRAM GENERAi flJNP-9\ IA[ ITV BASIC fQlJCATIQN pROGRAMS YEAR ENPfP llJNf 30 1994 Gl;NfRAI ANQ CAREER fQUCATIQN PROGRAMS Ki.-garten(') G.-1-3(') Sub-Total - K-3 G.-4-5(') G.-6-8(') G.-9-12(j High School Laboratolies (j Vocational Education Laboratories (i Total General and Career Education Programs SPECIAi EQI JCA.TIQN ?RQGRAMS Regular Programs category I (j categoiy II M categoiy Ill (j categoiy IV M Itinerant Supplemental Speech Sub-Total - Regular categoiy V (Gifted) (j Total Special Education Programs REMfQIAL EDUCATION PROGRAM (1 MEDIA CfNTER PROGRAMS Total Thirteen Weighted and Media Center STAFF DEVELOPMENT PROGRAMS (1) Cost cl Instruction Professional Development Total staff OeYelopment (, Identifies Thirteen Weighted Programs. Note: (1) S2,922.03 of the allotment for Profeo