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

THOMAS 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 THE GENERAL PURPOSE FINANCIAL STATEMENTS

10

ADDITIONAL 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

1 I

COMBINING BALANCE SHEET

26

J

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

27

THOMAS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

1 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS

28

2 SCHEDULE OF STATE REVENUE

30

ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

3

OVERALL

31

4

BYPROGRAM

32

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 CIRCULARA-133

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

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

SECTION I FINANCIAL

w. RUSSELL

HINTON

STATE AUDITOR

(404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street. S. W.. Suite 2 i4
Atlanta. Georgia 30334-8400
May 14, 2001

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Thomas 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 Thomas 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 o,f the Thomas County Board of Education's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free ofmaterial misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opm1on.
As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows:

2000ARL-13A

* 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, 2000, a portion
of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 2000. Also funds received, subsequent to June 30, 2000, from the Georgia Department of Education for the State's share of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1999, were improperly recorded in the year ended June 30, 2000. To 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 Thomas 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 confomtjtywith accounting principles generally accepted in the United States of America.

In accordance with Government Auditing Standards, we have also issued our report dated May 14,

2001, on our consideration of the Thomas County Board of Education's internal control over

financial reporting and our tests of its compliance with certain provisions of laws, regulations,

contracts and grants. That report is an integral part of an audit performed in accordance with

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

results of our audit.



Our audit was performed for the purpose of forming an opinion on the general purpose financial statements of the Thomas County Board of Education taken as a whole. The accompanying combining statements (Exhibits G through J) and the financial schedules (Schedules 1 through 4), 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, andNon-Profit Organizations, are presented for purposes of additionai analysis and are not a required part of the general purpose financial statements. Such information has been subjected to the auditing

2000ARL-13A

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.
A copy ofthis report has been filed as a permanent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code ofGeorgia Annotated Section 506-24.
Respectfully submitted,

RWH:jb 2000ARL-l 3A

State Auditor

THOMAS COUNTY BOARD OF EDUCATION

THOMAS 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 Consumable Supplies Food Donated Commodities Purchased Food
Amount to be Provided in Future Years For Payment of Compensated Absences

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

$ 3,094,737.99 $

381,230.45 $

188,993.79

187.22

236,739.85

1,478,154.63

108,497.22

141,428.31

49,733.11 52,695.14

Total Assets

$ 3,473,093.37 $ 1,961,813.33 $

297,491.01

LIABILITIES AND FUND EQUITY
LIABILITIES
Accounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Compensated Absences
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Bus Replacement Funds For Continuation of Federal Programs For Continuation of State Programs For Endowment Corpus For Inventories Consumable Supplies Food Donated Commodities Purchased Food For State Capital Outlay Projects Unreserved Designated for Self-Insurance Undesignated
Total Fund Equity

$

967,103.56 $

321,595.29

618.96

520,451.63

19,470.31

16,286.19

$

$

987,192.83 $

858,333.11 $

43,513.4,6 12,055.25
55,568.71

$

739.00

$

25,062.24

141,428.31

49,733.11 52,695.14
$

434,312.83 1,909,420.40

975,989.73

$ 2,485,900.54 $ 1,103,480.22 $

241,922.30
0.00 241,922.30

Total Liabilities and Fund Equity

$ 3,473,093.37 $ 1,961,813.33 $

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

297,491.01

EXHIBIT"A"

FIDUCIARY FUND TYPE NONEXPENDABLE . TRUST FUND

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS

{Memorandum Only}

JUNE 30, 2000

JUNE 30, 1999

$

35.91

$ 3,664,998.14 $ 2,484,945.75

62,500.00

62,687.22

722,304.58

2,749.02

1,826,140.72

1,780,324.57

141,428.31
49,733.11 52,695.14

82,483.34
55,945.37 41,124.79

$

170,152.55

170,152.55

164,445.25

$

65,284.93 $

170,152.55 $ 5,967,835.19 $ 5,331,573.65

$ 1,288,698.85 $

816,377.38

521,070.59

492,084.19

35,756.50

22,457.52

43,513.46

12,055.25

$

170,152.55

170,152.55

164,445.25

$

170,152.55 $ 2,071,247.20 $ 1,495,364.34

$

62,500.00

2 784.93

$

65,284.93

$

739.00

25,062.24

$

302.75

62,500.00

50,000.eo

141,428.31

82,483.34

49,733:'11 52,695.14 241,922.30

55,945.37 41,124.79 49,290.00

434,312.83 2,888,195.06

440,085.73 3,116,977.33

$ 3,896,587.99 $ 3,836,209.31

$

65,284.93 $

170,152.55 $ 5,967,835.19 $ 5,331,573.65

-3-

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

REVENUES
State Funds Federal Funds Taxes Other Funds
Total Revenues
EXPENDITURES
Current Instruction Support Services Pupil Services . Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation
Capital Outlay
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 Sourqes over (under) Expenditures and Other Financing Uses
FUND BALANCE JULY 1

GENERAL .FUND

SPECIAL REVENUE
FUND

$ 20,399,029.64 $
4,835,950.30 444?99.96
$ 25,679,779.90 $

3,306,447.21 3,248,765.79
949,023.93
7,504,236.93

$ 17,382,098.65 $
1,342,721.32 570,052.99 497,548.56 310,933.18
1,581,443.19 234,011.31
1,956,340.72 1,512,734.61
227,917.09 26,821.54

3,831,165.61
607,479.98 424,514.76
203,982.39 269,466.01
64,856.20 6,519.55
85,370.39 1,985,496.71

$ 25,642,623.16 $

$

37,156.74 $

7,478,851.60 25,385.33

$

$

-135,590.20

$

-135,590.20 $

$

-98,433.46 $

2,584,334.00

90,590.20 90,590.20 115,975.53 987,504.69

FUND BALANCE JUNE 30

$ 2,485,900.54 $ ====1=,1=0=3=,4=8=0=.2=2=

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

-4-

EXHIBIT "B"

CAPITAL PROJECTS
FUND

TOTALS

(Memorandum Only)

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

$

135,140.22 $ 23,840,617.07 $ 23,898,245.72

3,248,765.79

3,157,243.64

4,835,950.30

3,683,202.61

162.37

1,393,986.26

1,016,540.30

$

135,302.59 $ 33,319,319.42 $ 31,755,232.27

$ 21,213,264.26 $ 20,135,918.98

$

152,715.03

1,950,201.30 994,567.75 497,548.56 514,915.57
1,850,909.20 234,011.31
2,021,196.92 1,519,254.16
227,917.09 112,191.93 1,985,496.71 152,715.03

1,907,501.12 874,398.46 478,179.54 605,539.27
1,687,036.45 217,554.02
1,933,223.38 1,438,832.35
281,313.28 102,243.26 2,097,362.85 415,999.01

$

152,715.03 $ 33,274,189.79 $ 32,175,101.97

$

-17 412.44 $

45,129.63 $

-419,869.70

$

45,000.00 $

135,590.20 $

238,731.23

-135,590.20

-238,731.23

$

45,000.00 $

0.00 $

0.00

$

27,587.56 $

45,129.63 $

-419,869.70

214,334.74

3,786,173.43

4,206,043.13

$

241 ,922.30 $

3,831,303.06 $ - 3,786,173.43

-5-

THOMAS COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES. EXPENDITURES ANO CHANGES IN FUND BALANCES
BUDGET ANO ACTUAL - INON-GAAP 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

$ 19,728,930.13 $ 20,399,029.64

4,425,500.00 116,500.00

4,835,950.30 444 799.96

Total Revenues

$ 24,270,930.13 $ 25,679,779.90

EXPENDITURES

Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation

$ 17,218,500.00 $ 17,382,098.65

1,120,000.00 556,000.00 480,500.00 320,000.00
1,582,000.00 218,500.00
2,036,000.00 1,519,500.00
143,750.00 25,342.00

1,342,721.32 570,052.99 497,548.56 310,933.18
1,581,443.19 234,011.31
1,956,340.72 1,512,734.61
227,917.09 26,821.54

Total Expenditures

$ 25,220,092.00 $ 25,642,623.16

Excess of Revenues over (under) Expenditures

$ -949 161.87 $

37 156.74

OTHER FINANCING SOURCES {USES}

Other Sources Other Uses

$

-71 000.00 $ -135,590.20

Total Other Financing Sources (Uses)

$

-71 000.00 $ -135,590.20

Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -1,020,161.87 $

-98,433.46

FUND BALANCE JUL' 1. 1999

1,967,090.89

2,584,334.00

Adjustments

SPECIAL REVENUE FUND

ACTUAL

(BUDGET

BUDGET

BASIS}

$ 3,452,170.00 $ 3,306,447.21

3,490,836.00

3,248,765.79

907,000.00

949 023.93

$ 7,850,006.00 $ 7,504,236.93

$ 4,175,989.00 $ 3,831,165.61

682,128.00 376,590.00

607,479.98 424,514.76

201,333.00 247,376.00

203,982.39 269,466.01

35,500.00

64,856.20 6,519.55

127,380.00 2,100,000.00

85,370.39 1,985,496.71

$ 7,946,296.00 $ 7 478 851.60

$

-96,290.00 $

25,385.33

$

71,000.00 $

90,590.20

$

71,000.00 $

90,590.20

$

-25,290.00 $

1,012,343.41

87985.11

115,975.53 987,504.69

FUND BALANCE JUNE 30. 2000

$ 9461929.02 $ 214851900.54

$ 110751038.52 $ 1I103,480.22

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

,--------,----------------------------------~---

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

EXHIBIT "D"

OPERATING REVENUES Donations
OPERATING EXPENSES Current Support Services General Administration Operating Income (Loss)
NONOPERATING REVENUES Interest Earned Net Income ,
FUND BALANCE JULY 1
FUND BALANCE JUNE 30

- ENDOWMENT FUND BOBBY
SINGLETARY FAMILY
SCHOLARSHIP FUND

TOTALS

{Memorandum Onl~l

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

$

12,500.00 $

12,500.00 $

0.00

$

3,042.00 $

3,042.00 $

2 787.00

$

9,458.00 $

9,458.00 $

-2,787.00

5 791.05

$ -

15,249.05 $

50,035.88

5 791.05 15,249:05 $ 50,035.88

2 793.79 6.79
50,029.09

$

_65,284.93 $

65,284.93 $ ===5=0=,0=3=5=88===

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

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

. EXHIBIT "E"

ENDOWMENT FUND BOBBY
SINGLETARY FAMILY
SCHOLARSHIP FUND

TOTALS (Memorandum Onl~}
YEAR ENDED JUNE 30, 2000 JUNE 30, 1999

Cash Flows from Operating Activities: Cash Received from Donations Cash Paid for Scholarships

$

12,500.00 $

12,500.00

-3,042.00

-3,042.00 $

-2,787.00

Net Cash Provided (Used) by Operating

Activities

$

9,458.00 $

9,458.00 $

-2,787.00

Cash Flows from Investing Activities: Interest Received on Investments Purchase of Investments (Net)

$

3,042.03 $

3,042.03 $

-12,500.00

-12,500.00

2,793.79 29.00

Net Cash Provided (Used) by Investment

Activities

$

-9 457.97 $

-9,457.97 $

2,822.79

Net Increase in Cash

$

0.03 $

0.03 $

35.79

Cash and Cash Equivalents - July 1

35.88

35.88

0.09

Cash and Cash Equivalents - June 30

_$

35.91 $

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

THOMAS COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30. 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES REPORTING ENTITY

The Thomas County Bo!ifd 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 h~s

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 r~lated 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. Gover.nmental 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 resourc~s obtained and

used for services provided by a board of education.



THOMAS COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for
specified purposes. These funds are received primarily from the Georgia Department of Education and from the Federal government to accomplish specific educational objectives.
CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities.
FIDUCIARY FUND TYPE - the fund 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. This fund includes:
NONEXPENDABLETRUSTFUND Bobby Singletary 'Family Scholarship Fund - the fund used to account for an endowment of which the corpus is to be invested and preserved intact with the resultant income to be used to provide scholarship aid to defray college educational expenses.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for accrued compensated absences.
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 and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resouyces.
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.
All nonexpendable trust funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and liabilities associated with the operation ofthese funds are included on the balance sheet. Operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets.
Governmental funds are accounted for using the modified accrual basis of accounting under which:

- 11 -

THOMAS COUNTY BOARD OF EDUCATION

EXHIBIT "F"

.NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount of the trans'1ction can be determined and "available" means collectible within the current period or soon enough thereafterto be used to pay liabilities of the current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income.
Expenditures are generally recognized when the related fund liability is incurred.
A departure from'the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources.available from the Georgia Department of Education for the State's share of these contracts. During fiscal year 2000, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1999 and ending in early June 2000. Personnel contracts for this employment period specify tpat 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 sametwelve months. As ofJune 30, 2000, compensation under these employment contracts had been earned, but two of the twelve m9nthly 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 w~s 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 of accounting, as required by generally accepted accounting principles, is utilized by nonexpendable trust funds. Under the accrual basis of accounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred.
.,
BUDGET
The Thomas County Board of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level ofbudget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles.
The budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval ofthis tentative budget by the Board, such budget is advertised at
least once in a newspaper of general circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as
- 12 -

TIIOMAS COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167(c), to the Georgia Department of Education. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end.
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits in authorized financial institutions. Georgia Laws OCGA 45-8-14 authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations.
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Board in nonparticipating iQ.terest-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 of one year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following:
. (1) Obligations issued by the State of Georgia or by other states,
(2) Obligations issued by the United States government,
(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,
(4) Obligations of any corporation 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,
Cn Repurchase agreements, and
(8) Obligations of other political subdivisions of the State of Georgia.

- 13 -

THOMAS COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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 Thomas County Board of Commissioners fixed the property tax levy for the 1999 tax year (calendar year) on October 8, 1999 (levy date). Taxes were due on December 20, 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 Thomas 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 Thomas County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations.

10.80 mills

INVENTORIES

SUPPLIES INVENTORIES Inventories of consumable supplies are reported on the Combined Balance Sheet at average cost. The Board uses the consumption method to account for the inventories. The consumable supplies . inventories are recorded as an asset when purchased and expenditures are recorded as the inventory items are used.. The inventories reported oh the balance sheet are equally offset by a reservation of fund balance which indicates that they do not constitute "available spendable resources" even though they are a component of net current assets.

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 (weighted average). The Board uses the consumption method to account for both inventories. Donated food commodities are recorded as an asset and as revenue when received, and expenditures are recorded as the inventory items are used. Purchased foods are recorded as an asset when purchased and expenditures are recorded as the inventory items are used. 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 ofnet
current assets.

. - 14 -

THOMAS COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30,2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

COMPENSATED ABSENCES

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

compensation for future absences based upon service already rendered. This obligation relates only

to vesting accumulating leave in which payment is probable and can be reasonably estimated. No

liability has been recorded in the individual funds for the current portion of this obligation as this

amount is deemed immaterial to the general purpose financial statements.



INTERFUND TRANSACTIONS

The Board has the following types of interfund transactions:

Reimbursements of expenditures/expenses initially made from a fund that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed.

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

MEMORANDUM ONLY -TOTAL COLUMNS

Total columns on the general purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results ofoperations or cash flows in conformity with generally accepted accounting principles. Neither are such data comparable to a_ <;onsolidation. Interfund eliminations have not been made in the aggregation of this data.

Note 2: DEPOSITS AND INVESTMENTS

COLLATERALIZATION OF DEPOSITS

Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on

deposit at any time in any depository for a time longer than ten days a sum ofmoney which has not

been secured by surety bond, by guarantee of insurance, 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 of operating funds placed in demand deposit checking

accounts.



-

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

- 15 -

THOMAS COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note 2: DEPOSITS AND INVESTMENTS
(1) Surety bond signed by a surety company duly qualified and authorized to tr~nsact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia,
(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
(6) Industrial revenue bonds and bonds 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 or 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, 2000, the bank balances were $4,893,502.89. The amounts ofthe total bank balances are classified into three categories of credit risk:
Category 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name.
Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name.
Category 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.)
The Board's deposits are classified by risk category at June 30, 2000, as follows:

- 16 -

THOMAS COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30. 2000

Note 2: DEPOSITS AND INVESTMENTS

Risk Category

Bank Balance

1

$ 300,000.00

2

2,892,656.25

3

L 700,846.64

Total

$ 4,893,502.89

CATEGORIZATION OF INVESTMENTS

At June 30, 2000, the carrying value of the Board's total investments was $187.22 which is

materially the same as fair value. This investment consisted entirely of funds invested in the Local

Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal

Services which are not required to be categorized since the Board did not own any specific

identifiable securities in the pool. The investment policy ofthe State ofGeorgia, Office ofTreasury

and Fiscal Services for the Local Government Investment Pool (Primary Liquidity Portfolio) does

not provide for investment in derivatives or similar investments. A description. of the Primary

Liquidity Portfolio is as follows:



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

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

- 17-

THOMAS COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 3: NON-MONETARY TRANSACTIONS
The Board receives food commodities from the United States Department ofAgriculture (USDA) for \
school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories
Note 4: RISK MANAGEMENT
The Board is exposed to various risks ofloss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees;. natural disaster and .unemployment compensation.
The Board has obtained commercial insurance for risk ofloss associated with torts, assets, errors or omissions and 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 . in~urance coverage in any of the past three years.
The Board participates iri the Georgia School Boards Association Risk and Insurance Management System, a public entity risk pool organized on July 1, 1994, to develop and administer a plan to reduce risk of loss on account of general liability, motor vehicle liability, or property damage, including safety engineering and other loss prevention and control techniques, and to administer one or more groups of self-insurance funds, including the processing and defense of claims brought against members of the system. The Board pays an annual premium to the system for its general insurance coverage. Additional coverage is provided through agreements by the system with other companies according to their specialty for property, boiler and machinery,. general liability (including coverage for sexual harassment, molestation and abuse) and automobile risks. Payment of excess insurance for the system varies by line of coverage..
The Board has elected to self-insure.for all losses relatedto natural disaster. The Board has not experienced any losses related to this risk in the past three years.
The Board is self-fosured with regard to unemployment compensation claims. A premium is charged when needed by the General Fund to each user fund on the basis of the percentage of that fund's payroll to total payroll in order to cover estimated claims budgeted by management based on known claims and prior experience. The Board accounts for claims with expenditure and liability being reported wheri it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated.
Changes in the unemployment compensation claims liability during the last two fiscal years are as follows:

- 18 -

THOMAS COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30, 2000

Note 4: RISK MANAGEMENT

Beginning of Year Liability

Claims and. Changes in Estimates

Claims Paid

End of Year Liability

1999 2000

$

0.00 $ 2,564.50 $ 2,564.50 $

0.00

$

0.00 $ ll,074.25 $ 11,074.25 $

0.00

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

Position Covered

Amount

Superintendent All Other Employees (Per Loss)

$ 100,000.00 $ 10,000.00

Note 5: GENERAL LONG-TERM DEBT

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

Balance July 1, 1999

Compensated Absences
$ 164,445.25

Additions Annual Leave Earned and Utilized (Net)

5,707.30

Balance June 30, 2000

$ 170,152.55

Note 6: ON-BEHALF PAYMENTS

The Board has recognized revenues and expenditures in the amount of $441,687.04 for health insurance and retirement contributions paid on the Board's behalfby the following State Agencies.

Georgia Department of Education Paid to the Georgia Department of Community Health For Health Insurance ofNon-Certified Personnel In the amount of $351,407.93
Paid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $27,244.11

- 19 -

THOMAS COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note 6: ON-BEHALF PAYMENTS

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 $63,035.00

Note 7: SIGNIFICANT COMMITMENTS

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

Project

Unearned Executed Contracts

Funding Available From State

00G/00S-736-056

$ 676,994.99 $ 308.465.78

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

Note 8: CONTINGENT LIABILITIES

Amounts received or receivable principally from the Federal government are subject to audit and review by granter agencies. This could result in requests for reimbursement to the granter 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 9: ACCUMULATED EMPLOYEES' LEAVE

Twelve month employees earn ten days ofvacation annually, provided they have been employed at least nine months of the previous fiscal year, with a maximum accumulation of thirty days. Upon retirement or termination ofemployment, employees have the option ofearly release or payment for accumulated vacation time at their current rate of pay. See Note 1 - Compensated Absences

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 ofGeorgia (TRS), which is a cost-sharing multiple

- 20 -

TIIOMAS COUNfY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30. 2000

Note 10: RETIREME' NT PLANS

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%

$2,146,112.50 $2,181,622.12 $1,984,140.15

- 21 -

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

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

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

$ 1,093,304.82 $

167,537.42

24,139.69

49,733.11 52,695.14

Total Assets

$

1,195,733.07 $ ===19::::::1:!:::,6::::::::7=7.=11=

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

$

28,935.84 $

85,198.45

88,105.52

106,478.66

273.73

$

117,315.09 $

191 677.11

$

49,733.11

52,695.14

975,989.73 $

0.00

$ 1,078,417.98 $

0.00

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

$

1,195,733.07 $ ===19=1=,6=7=7=11=

EXHI.BIT "G"

FEDERAL PROGRAMS

OTHER PROGRAMS

TOTALS

JUNE 30, 2000

JUNE 30, 1999

$ 1,260,842.24 $

991,772.94

$ 1,339,852.35 $

114,162.59

1,478,154.63

1,364,459.55

49,733.11 52,695.14

55,945.37 41,124.79

$ 1,339,852.35 $

114,162.59 $ 2,841,425.12 $ 2,453,302.65

$

774,536.93 $

198,467.47

325,867.45

15,918.26

$ 1,314,790.11 $

105,074.86 $ 8,993.53
94.20
114,162.59 $

879,611.79 $ 321;595.29 520,451.63
16,286.19
1,737,944.90 $

773,354.48 177,901.77 492,084.19 22,457.52
11465,797.96

$

25,062.24

0.00 $

$

25,062.24 $

$

25,062.24

$

302.75

0.00 0.00 $

49,733.11 52,695.14
975,989.73
1,103,480.22 $

55,945.37 41,124.79
890,131.78
987,504.69

. $ 1,339,852.35 $

114,162.59 $ 2,841,425.12 $ 2A53,302.65

- 23 -

THOMAS 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 Educational Media Services General Administration School Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services Food Services Operation
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

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

$ ..

149,210.00 $

1,384,776.74

552,377.28

$ 2,086,364.02 $

1,020,258.67 1,020,258.67

$

8,636.95 $

851,016.38

1,014.32

155,564.56 1,596.47

72,002.65 14,376.20

1,985,496.71

228.00

$ 1,995,147.98. $ 1,094,784.26.

$

91,216.04 $

-74,525.59

$

91,216.04 $

987,201.94

74,222.84
-302.75 302.75

FUND BALANCE JUNE 30

$ 1,078,417.98 $ =====0.=00=

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

EXHIBIT "H"

FEDERAL PROGRAMS

OTHER PROGRAMS

TOTALS

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

$ 1,698,944.66 $ 1,863,989.05 396,646.65
$ 3,959,580.36 $

438,033.88 $ 438,033.88 $

3,306,447.21 $ 3,248,765.79
949,023.93
7,504,236.93 $

3,268,306.92 3,157,243.64,
510,711.59
6,936,262.15

$ 2,533,478.40 $
451,915.42 421,903.97
203,982.39 197,463.36 50,480.00
6,519.55 85,142.39

$ 3,950,885.48 $

$

8,694.88 $

438,033.88 $
438,033.88 $ 0.00 $

3,831,165.61 $
607,479.98 424,514.76
203,982.39 269,466.01 64,856.20
6,519.55 85,370.39 1,985,496.71
-
7,478;851.60 $
25,385.33 $

3,519,163.39
556,096.15 339,838.92
15,312.13 245,572.45 182,743.71 99,473.78
4,962.87 81,020.66 2,097,362.85
7,141,546.91
-205,284.76

16,367.36

$

25,062.24 $

0.00

90,590.20

78,731.23

0.00 $ 0.00

115,975.53 $ 987,504.69

-126,553.53 1,114,058.22

$

25,062.24 $

0.00 $ 1,103,480.22 $ ==9=8=7=,5=04=.6=9=

- 25 -

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

EXHIBIT "I"

ASSETS Cash and Cash Equivalents Investments Accounts Receivable

REGULAR

LOTTERY PROJECT

TOTALS JUNE 30, 2000 JUNE 301 1999

$

0.00 $

188,993.79 $

188,993.79 $

173,780.05

11,667.89

108 497.22

108,497.22

28,886.80

Total Assets

$

0.00 $

297 491.01 $

297 491.01 $ ====2=14='=33=4=.7=4=

LIABILITIES AND FUND EQUITY

LIABILITIES

Contracts Payable Retainages Payable

Total Liabilities

FUND EQUITY

Fund Balances

Reserved

For State Capital Outlay Projects

Unreserved

Undesignated

$

Total Fund Equity

$

$

43,513.46 $

43,513.46

12,055.25

12,055.25

$

55,568.71 $

55,568.71

$ 0.00 0.00 $

241,922.30 $ 0.00
241,922.30 $

241,922.30 $ 0.00.
241,922.30 $

49,290.00 165 044.74 214,334.74

Total Liabilities and Fund Equity $

0.00 $

297 491.01 $

297,491.01 $ ====2=14==33=4=.7=4=

See notes to the general purpose financial statements.

- 26-

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

EXHIBIT"J"

REGULAR

LOTTERY PROJECT

TOTALS YEAR ENDED JUNE 30, 2000 JUNE 30, 1999

REVENUES

State Funds Other Funds

$

135,140.22 $

135,140.22 $

288,868.00

$

162.37

162.37

669.05

Total Revenues

$

162.37 $

135,140.22 $

135,302.59 $

289,537.05

EXPENDITURES

Capital Outlay Building and Building Improvements

$

0.00 $

152,715.03 $

152,715.03 $

415,999.01

Excess of Revenues over (under) Expenditures

$

162.37 $

-17 574.81 $

-17,412.44 $ -126,461.96

OTHER FINANCING SOURCES {USES)

Operating Transfers In Operating Transfers Out

$ $ -165,207.11

210,207.11 $

210,207.11 $ 165,207.11

161,448.66 -321,448.66

Total Other Financing Sources (Uses)

$ -165 207.11 $

210,207.11 $

45,000.00 $ -160,000.00

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

-165,044.74 $

192,632.30 $

27,587.56 $ -286,461.96

FUND BALANCE JULY 1

165 044.74

49,290.00

214 334.74

500,796.70

FUND BALANCE JUNE 30

$

0.00 $

241,922.30 $

241,922.30 $

214,334.74

See notes to the general purpose financial statements.

27-

THOMAS 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 $ 289,294.57

(2)

NIA

969,195.99 $ 1,868,861.80 (3)

Total Child Nutrition Cluster

$ 1,258,490.56 $ 1,868,861.80

Other Programs Pass-Through From Georgia Department of Education Food and Nutrition Program Food Services Nutrition Education and Training Program Food Distribution Program (1)

10.564

NIA

10.550

NIA

9,651.27 116,634.91

9,651.27 116,634.91

Total U. S. Department of Agriculture

$ 1,384,776.74 $ 1,995,147.98

Corporation for National and Community Service Pass-Through From Georgia Department of Education Learn and Serve America School and Community Based Programs

94.004

NIA $

8 058.76 $

8 058.76

Education, U.S. Department of Special Education Cluster Pass-Through From Georgia Department of Education Individuals with Disabilities Education Act Part B - Special Education Flow Through Preschool Severely Emotionally Disturbed Part C - Special Education Special Education Capacity Building Improvement

. 84.027
. 84.173 . 84.027
84.173

NIA $ 300,792.58 $

NIA

50,972.00

NIA

162,526.76

NIA

12,722.18

300,774.50 51,730.80 (3) 162,526.76
12,722.18

Total Special Education Cluster

$ 527,013.52 $

527,754.24

0th.er Programs Pass-Through From Berrien County Board of Education d/b/a Southern Pine Migrant Education Agency _ Elementary and Secondary Education Act Title I Migrant Education Pass-Through From Georgia Department of Education Elementary and Secondary Education Act Title I Grants to Local Educational Agencies Title 11 Eisenhower Professional Development Title Ill Technology Literacy Challenge Fund Grants Title VI Innovative Education Program Strategies Class Size Reduction TitleX Charter Schools Goals 2000 State and Local Education Systemic Improvement Grants Vocational Education - Basic Grants to States High School Program Basic Grant
Total U. S. Department of Education

84.011
84.010 84.281 84.318 84.298 84.340 84.282 84.276
84.048

NIA

49,391.62

49,391.62

NIA

935,800.87

936,527.01 (3)

NIA

19,298.21

22,157.03 (3)

NIA

17,380.95

19,433.50 (3)

NIA

15,909.07

15,909.07

NIA

134,661.00

134,951.28 (3)

NIA

48,942.26

48,942.26

NIA

59,645.65

60,320.01 (3)

NIA

16,339.87

17,823.26 (3)

$ 1,824,383.02 $ 1,833,209.28

- 28 -

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

SCHEDULE "1"

FUNDING AGENCY PROGRAM/GRANT
OTHER FEDERAL ASSISTANCE
Defense, U.S. Department of Direct Department of the Air Force R.O.T.C. Program

CFDA NUMBER

PASSTHROUGH
ENTITY ID
NUMBER

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

$

31 547.27 $

39,532.54 (3)

Total Federal Financial Assistance
N/A = Not Available

$ 3,248,765.79 $ ===3,=87=5=,9=4=8=.5=6

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.

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

The Board did not provide Federal Assistance to any Subrecipient.

The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the Thomas 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.

29

THOMAS COUNTY BOARD OF EDUCATION SCHEDULE OF TATE R!;VENUE YEAR ENDED JUNE 30. 2000

SCHEDULE 2

AGENCY/FUNDING
GRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacem~nt Limited English-Speaking Middle School Incentive Program Special Instructional Assistance In-School Suspension Mid-term Adjustment Migrant Education Counselors Grades 4 and 5 Technology Specialist Local Five Mill Share Educational Equalization Funding Grant Food Services Other State Programs Alternative Program At-Risk Summer School Program Environmental Science Program Health Insurance Innovative Programs Mentoring Program Mentor Teachers Program Preschool Handicapped Program Remedial Summer School Program Severely Emotionally Disturbed Teachers' Retirement Lottery Programs Assistive Technology Computers in the Classroom Exceptional Growth-Capital Outlay
Georgia Department of Community Affairs Governor's Emergency Funds (1)
Human Resources, Georgia Department of Family Connection Grant Special Education Services
Office of School Readiness Pre-Kindergarten Program
Office of Treasury and Fiscal Services Public School Employees Retirement
CONTRACT Education, Georgia Department of Reading Challenge Program

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

TOTAL

$ 10,845,057.00 3,508,6~8.00 416,388.00 479,902.00 143,261.00 3,045,762.00
680,719.00 208,107.00 41,749.00 431,401.00 450,674.00
66,936.00 93,811.00
2,051.00 43,273.00 28,842.00 -2, 159,878.00 1,354,340.00
$
102,888.00 17,482.28 745.52
351,407.93 5,000.00 5,400.00 1,134.oo
53,592.00 4,523.63
27,244.11

149,210.00
1,648,944.66 11,969.69
116,170.00 $

15,000.00

50,000.00 438,033.88

892,118.98

63,035.00

$ 10,845,057.00 3,508,648.00 416,388.00 479,902.00 143,261.00 3,045,762.00

680,719.00 208,107.00 41,749.00 431,401.00 450,674.00 66,936.00
93,811.00 2,051.00
43,273.00 28,842.00 -2, 159,878.00 1,354,340.00 149,210.00

102,888.00

17,482.28

'

745.52

351,407.93

5,000.00

5,400.00

1,134.00

53,592.00

4,523.63

1,648,944.66

27,244.11

135,140.22

11,969.69 116,170.00 135,140.22

15,000.00

50,000.00 438,033.88

892,118.98

63,035.00

70534.17

70 534.17

$ 20.399,029.64 $ 3,306,447.21 $

135,140.22 $ 23,840,617.07

(1) The purpose of the funds are to replace track carpet at C~ntral High School Gym.

See notes to the general purpose financial statements.

- 30-

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

SCHEDULE "3"

Minimum Expenditure Requirements (Total Allotment) Exp~nditures 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

$

15,343,806.00 $

460,334.00

$

15,172,333.72

933,864:95 $-"-_ _8_2_6_:_1,_8_1._76_

$

16,106,198.67

-9,369.15
$ ----16-,0-96-,8~29-.5-2

$

o:oo $ ======0.0=0

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

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

GENERAL ~ND CAREER EDUCATION PROGRAMS Kindergarten ('I
Grades 1 - 3 11
Sub-Total K-3
Grades 4 - 5 ()
Grades 6 - 8 ()
Grades 9 - 12 1) High School Laboratories (1 Vocational Education Laboratories 1i
Total General and Career Education Programs
SPECIAL E!;!UCATION PROGl3e!MS
Regular Programs
Category I 1) Category II 11
Category Ill () Category IV () Category V ()
Sub-Total - Regular
Category VI (Gifted) 1i
Total Special Education Programs
REMEDIAL EDUCATION PROGRAM(}
Total Fourteen Weighted Programs
MEDIA CENTER PROGRAMS
Salaries Operations
Total Media Center Programs

ALLOTMENTS FROM GEORGIA DEPARTMENT OF

REQUIRED

ORIGINAL

%

ORIGINAL

MID-TERM

$ 1,163,699.00

$

2,867,713.00

$ 4,031,412.00 90 $

1,291,938.00 90

2,573,794:00 90

1,482,912.00 90

851,191.00 90

613,810.00 90

$ 10,845,057.00

$

1,047,329.10 $ 2,580,941.70 3,628,270.80 $ 1,162,744.20 2,316,414.60 1,334,620.80
766,071.90 552,429.00 9,760,551.30 $

0.00 0.00 93,811.00
93,811.00

$ 3,226,944.00

$ 2,904,249.60 $

0.00

$ 3,226,944.00 90 $' 2,904,249.60 $

281,704.00 90

253,533.60

$ 3,508,648.00

$ 3,157,783.20 $

$

416,388.00 90 $

374,749.20. $

-s 14,770,093.00

$ 13,293,083.70 $

0.00
0.00 0.00 93,811.00

$

381,635.00 90 $

343,471.50 $

0.00

98,267.00 100

98,267.00

$

479,902.00

$

441,738.50 $

0.00

Total Fourteen Weighted and Media Center Programs

$ 15,249,995.00

$ 13,734,822.20 $

93,811.00

SIAFF DE~ELOPMENT PRO!;aRAMS Cost of Instruction Professional Development
Total Staff Development Programs () Identifies Fourteen Weighted Programs.

$

46,428.00

$

46,428.00 $

0.00

96,833.00

96,833.00

0.00

$

143,261.00 100 $

143,261.00 $

0.00

See notes to the general purpose financial statements.

32

SCHEDULE "4"

EDUCATION TOTAL
REQUIRED

ACTUAL EXPENDITURES

SALARIES

OPERATIONS

TOTAL

AMOUNT OF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

$ 1,047,329.10 $ 1,148,150.93 $

33,322.95 $ 1,181,473.88

2,580,941.70

2,690,586.11

140,396.57

2,830,982.68

$ 3,628,270.80 $ 3,838,737.04 $

173,719.52 $ 4,012,456.56 $

0.00

1,256,555.20

1,517,266.48

94,881.51

1,612,147.99

0.00

2,316,414.60

2,540,364.36

166,047.47

2,706,411.83

0.00

1,334,620.80

1,846,265.66

200,952.36

2,047,218.02

0.00

766,071.90

801,664.70

29,812.64

831,477.34

0.00

552,429.00

597,529.91

48,403.94

645,933.85

0.00

$ 9,854,362.30 $ 11,141,828.15 $

713.817.44 $ 11,855,645.59

$ 2,904,249.60 $

215,018.80 $ 759,148.09 1,925,539.95
755.02 11,975.44

2,956.42 $ 12,067.52 87,806.56
116.90

217,975.22 771,215.61 2,013,346.51
871.92 11,975.44

$ 2,904,249.60 $ 2,912,437.30 $

102,947.40 $ 3,015,384.70

0.00

253,533.60

279,425.80

5,164.35

284,590.15

0.00

$ 3,157,783.20 $

3,191,863.10 $

108,111.75 $ 3,299,974.85

$

374,749.20 $

457,054.51 $

4,252.57 $

461,307.08

0.00

$ 13,386,894.70 $ 14,790,745.76 $

826,181.76 $ 15,616,927.52

$

343,471.50 $

381,587.96

$

381,587.96

0.00

98,267.00

$

107,683.19

107,683.19

0.00

$

441,738.50 $

381,587.96 $

107,683.19 $

489,271.15

$ 13,828,633.20 $ 15,172,333.72 $

933,864.95 $ 16,106,198.67 $

0.00

$

46,428.00

96,833.00

$ -=====14=3=,2=6=1.=0=0

$

126,990.74 $

126,990.74

42,513.59

42,513.59

$

169,504.33 $

169,504.33 $-==========o=.o=>o

33

SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street. S.W.. Suite 214 Atlanta. Georgia 30334-8400
May 14, 2001

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Thomas 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 Thomas County Board of Education as of and for the year ended June 30, 2000, and have issued our report thereon dated May 14, 2001. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards 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 wh~ther Thomas 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 Thomas County Board of Education's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal
2000YB-40A

control over financial reporting. However, we noted a certain matter involving the internal control over financial reporting and its operation that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control over financial reporting that, in ourjudgment, could adversely affect Thomas 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-7361-00-01.
A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the 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 Thomas County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties.
Respectfully submitted,

RWH:jb 2000YB-40A

State Auditor

w. RUSSELL

HINTON

STATE AUDITOR

(404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
. 254 Washington Street, S.W. Suite 214 Atlanta. Georgia 30334-8400
May 14, 2001

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Thomas 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 of Thomas Comity Board of Education with the types of compliance requirements described in the U.S. Office ofManagement and Budget (0MB) Circular A-1_33 Compliance Supplement that are applicable to each of its major Federal programs for the year ended June 30, 2000. Thomas County Boar.d 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 of Thomas County Board ofEducation's management. Our responsibility is to express an opinion on Thomas County Board of Education's compliance based on our audit.
We conducted our audit ofcompliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States; and 0MB Circular Al 33, Audits of States, Local Governments, and Non-Profit Organizations. Those standards and 0MB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types ofcompliance requirements referred to above that could have a direct and 1n:aterial effect on a major Federal program occurred. An audit includes examining, on a test basis, evidence about the Thomas County Board of Education'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 Thomas County Board ofEdu~ation's compliance with those requirements.
2000SA-10A

In our opinion, the Thomas 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 Thomas 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 Thomas County Board ofEducation's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to 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.
Our consideration ofthe internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a condition in which the design or operation ofone or more ofthe internal control components does. not reduce to a relatively low level of risk that noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in relation to a major Federal program being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses.
This report is intended solely for the information and use of management, members of the Thomas 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.
Respec!~lly submitted,

RWH:jb 2000SA-10A

State Auditor

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

THOMAS 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-7361-98-01 FS-7361-99-01 FS-7361-99-02

Further Action Not Warranted Previously Reported Corrective Action Implemented Unresolved - See Corrective Action/Responses

CORRECTIVE ACTION/RESPONSES

GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number: FS-7361-99-02

Because of staffing and budgetary constraints, we have chosen not to implement a general fixed assets group at this time.

SECTIONN FINDINGS AND QUESTIONED COSTS

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

I SUMMARY OF AUDITOR'S RESULTS

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

2. Reportable Conditions in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the Thomas 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 Thomas 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 Thomas County Board ofEducation did not disclose any reportable conditions in internal control over major programs.

5. Type of Report Issued on Compliance for Major Programs The auditor's opinion on the Thomas County Board ofEducation's report on compliance with requirements applicable to mc:1jor programs was unqualified.

6. Audit Findings Required to be Reported by Section .510(a) of 0MB Circular A-133

The Thomas County Board ofEducation's audit did not disclose audit findings required to be

reported by section .510(a) of 0MB Circular A-133.



7. Major Programs Federal awards audited as major programs are as follows: 10.553 Food and Nutrition Program - Food Services - School Breakfast Program 10.555 Food and Nutrition Program - Food Services - National School Lunch Program 84.027 Individuals with Disabilities Education Act - Part B - Special Education - Flow Through 84.173 Individuals with Disabilities Education Act - Part B - Special Education Preschool 84.027 Individuals with Disabilities Education Act - Part B - Special Education Severely Emotionally Disturbed

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

- 1-

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

I SUMMARY OF AUDITOR'S RESULTS

9. Low Risk Auditee The Thomas County Board of Education did not qualify as a low risk auditee as defined by , Section .530 of 0MB Circular A-133.

II FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS

GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition - Material Weakness Repeated From Prior Year Finding-Control Number: FS-7361-00-01

The Thomas County Board of Education did not maintain a system-wide General Fixed Assets

Account Group within the formal accounting records as required by generally accepted accounting

principles. This conditioinesults in the general purpose financial statements of the Board being

incomplete and not in accordance with generally accepted accounting principles. Appropriate action

should be taken by the Board to establish accounting controls and procedures to provide for

: maintenance of a General Fixed Assets Account Group. The subsidiary records should include an

inventory of land, buildings and equipment owned by the Board and should include but may not be

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

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

Accourit Group.

,-,. .

III FEDERAL AWARD FINDINGS AND QUESTIONED COSTS

No matters were reported.

-2-

Locations