Audit report, Tift County Board of Education, Tifton, Georgia, year ended June 30, 1994

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STATE OF GEORGIA DEPARTMENT OF AUDITS
254 WASHINGTON STREET ATLANTA. GEORGIA 30334

AUDIT REPORT TIFT COUNTY BOARD OF EDUCATION
TIFTON, GEORGIA YEAR ENDED JUNE 30, 1994

TIFT 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

4

C

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES -ACTUAL AND BUDGET

GOVERNMENTAL FUND TYPES

5

D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

6

ADDITIONAL FINANCIAL INFORMATION

COMBINING STATEMENTS

SPECIAL REVENUE FUND

E

COMBINING BALANCE SHEET

18

F

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

22

CAPITAL PROJECTS FUND

G

COMBINING BALANCE SHEET

26

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

28

SCHEDULES

1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

30

2 ANALYSIS OF CASH AND CASH EQUIVALENTS

32

3 INVESTMENTS

33

4 ACCOUNTS RECEIVABLE

34

SCHEDULE OF REVENUE

5

STATE FUNDS

35

6

LOCAL AND OTHER FUNDS

36

TIFT COUNTY BOARD OF EDUCATION TABLE OF CONTENTS.

~

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

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

41

10

BY PROGRAM

42

11 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS

44

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

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

TIFT COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -
SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS

SECTION I FINANCIAL

CLAUDE L. VICKERS
STATE AUDITOR (404) 656-2174

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
March 22, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Tift County Board of Education
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
Ladies and Gentlemen:
We have audited the general purpose financial statements (Exhibits A through D) of the Tift 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.
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 of Management 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 estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows:
* The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles.
94ARL-13

* School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To confonn 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 confonn 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 present fairly, in all material respects, the financial position ofthe Tift County Board of Education as ofJune 30, 1994, and the results ofits operations for the year then ended, in conformity with generally accepted accounting principles.
Our audit was conducted for the purpose offorming an opinion on the general purpose financial statements ofthe Tift County Board of Education taken as a whole. The combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 11 which includes the Schedule of Federal Financial Assistance) are presented for purposes ofadditional analysis and are not a required part of the general purpose financial statements of the Tift County Board of Education. Such information has been subjected to the auditing procedures applied in the audit ofthe general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third paragraph, such infonnation is fairly presented 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 of the State Auditor and made available to the press of the State, as provided for by Official Code ofGeorgia Annotated Section 50-6-24.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:cm 94ARL-13

TIFTCOUNTYBOARDOFEDUCATION
- 1-

~
cash and Cash Equivalents
Investments
Accounts Receivable
Inventories Food Donated Commodities Purchased Food
Prepaid Items
Amount to be Provided In Future Years
For Payment of Capital Lease Agreements
Total Assets
Lll',!:llLIIlfa l',Nbl FUNbl ~Q!JIIX
~
Accounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue Unearned Revenue capital Lease Agreements
Total Liabilities
F!Jt,!Q l;QIJIIX
Fund Balances Reserved For Continuation of Federal Programs For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For State Capital Outlay Projects
,,
Unreserved Undesignated
Total Fund Equity
Total Liabilities and Fund Equity

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

DEBT SERVICE
FUND

$ 1,572,125.34 $ 1,146,442.02 $ 2,761,343.17 $

22,910.40

1,536,478.50

1,402,103.50

134,379.60

401,219.12

3.30

24,358.82 12,981.66

$ 3 242 983.44 $ 1 587 001.62 $ 4163 446.67 $

22913.70

$

37,797.02 $ 192,531.74

302,166.46

23,285.61

$

31,140.90

3,667.71

54,847.85

$

37797.02 $ 572831.66 $

34808.61

$

$

31,327.10

69.76

24,358.82 12,981.66
$ 1238430.80

$

31,327.10 $

37,410.24 $ 1,238,430.80

3173859.32

976759.72

2 890 207.26 $

$ 3 205 186.42 $ 1 014169.96 $ 4 128 638.06 $

22913.70 22913.70

$ 3 242 983.44 $ 1587001.62 $ 4163446.67 $

22913.70

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

EXHIBIT"A"

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS
{Memorandum On!n JUNE 30 1994 JUNE30 1993

$ 5,504,820.93 $ 2,416,534.79

2,938,582.00

3,756,219.44

535,602.02

480,605.52

24,358.82 12,981.66

43,840.25 10,242.66
795.00

$

926344.88

926344.88

$

926344.88 $ 9 942 690.31 $ 6 708237.66

$ 230,328.76 $

75,748.47

302,166.46

264,818.40

23,285.61

5,210.69

31,140.90

3,667.71

12,918.00

54,847.85

125.00

$

926344.88

926344.88

$

926344.88 $ 1 571 782.17 $ 358820.56

$

69.76 $

4,831.83

31,327.10

31,327.10

24,358.82 12,981.66 1238430.80

43,840.25
10,242.66 1 088867.80

$ 1,307,168.14 $ 1,179,109.64

7063740.00 5170307.46

$ 8370908.14 $ 6349417.10

$

926344.88 $ 9 942 690.31 $ 6708237.66

-3 -

TIFT COUNTY BOARD OF EDUCATJON CQMRINEP TATEMENT OF REVENUES EXf>sNQfTLJRES ANP CHANGES IN FLJNP BAl.ANCES
GOYsBNMENTAL RJNP TVPES
VEAR ENPEP JUNE 30 1fflW

EXHIBIT"B"

~
State Funds Federal Funds Local and Other Funds
Total Revenues
EXPENPITURES
Current lnsbuctian
-SupportPupilImprovement al lnstrucliona I
Educational Media General Administration Schom Administration Business Administration Maintenance and Operation of
Plant Student Tranapor1atlon Central Support Othe<SupportFood -Operation Othe< Operations"' NonInstructional SeJvices Capital0u1Jay
Total Expenditures
"" Excess al Re,enues (under) ExpendihKes
QltH~R ~ g l ~ SQ!.:!B.Ql;S (YS!;~
Capital leases Operating Transfer& In Operating Transfers Out
Total Othe< Financing Soult:8S
<Us-)
Excess of Revenues and Other Financing Sources over (under) Expenditures and
Othe< - n g Uaes
EYNP ~..aHCE J!JLY 1
Food lmenlary Donated Commodities Jwyl June 30 Purchased Food July1 June30

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

DEBT SERVICE
FUND

TOTALS

20,639,966.TT $ 106,157.43
6070 023.73

539,079.76 3,681,930.06
479 718.80 $

26 816 147.93 $ 4 700n8.62 $

104 581.08 $ 104 581.08 $

871.82

21,179,046.53 $ 3,788,087.49 6655195.43

20,310,632.89 4,390,798.93 5 612 431.65

871.82 $ 31 622 329.45 $ 30 313 863.47

17,904,948.98 $ 1,974,558.37

1,051,993.89

197,TT7.91

492,976.37 700,116.21
509,395.47 1,767,867.00
109,168.97

30,292.85 4,089.45 178,767.64 4,997.95

1,658,810.n 1,046,71827
108,982.39 22,600.34

52,643.84 21,068.88
2,22326 142,209.31 2,049,667.54

193,828.74 60473.40

25627881.75 $ 4658286.00 $

224J71.11 224~71.11 $

1186~.18 $

42 440.62 $ -119 690.03 $

0.00 $ 19,879,507.35 $ 18,630,444.85

1,249,TT1.80

1,194,146.96

523,289.22 704,205.66 688,163.11 1,1n,864.95 109,168.97

442,811.26 671,463.93 780,058.39 1,n5,275.76
18,567.70

1,711,454.56 1,067,TT8.15
111,205.65 164,809.65 2,049,667.54

1,790,766.55 1,064,587.49
173,583.82 170,390.82 1,923,853.n

193,826.74 284 744.51

184,954.81 340 381.53

0.00 $ 30510440.86 $ 29111Jl!7.58

871.82 $ 1111 888.58 $ 1~565.88

926,344.86 $
-1 604 309.71
-677964.83 $

4,309.71 $ 1,600,000.00 4 309.71 $ 1 600000.00

926,344.88 1,604,309.71 $ -1 604 309.71

1,150,000.00 -1 150 000.00

926 344.86 S

0.00

510,301.35 $ 2,684,865.07

46,750.33 $ 1,480,308.97 $ 984,162.06 2,646,328.09

871.82 $ 22,041.88

2,038,233.47 S 6,349,417.10

1,202,565.88 5,158,584.47

-43,840.25 24,358.82
-10,242.66 12 981.66

-43,840.25 24,358.82
-10,242.66 12.981.66

-57,137.97 43.840.26
-8,678.19 10 242.86

EY~P ~L.!NCE ~~me~

3 205 186.42 $ 1 014 169.96 $ 4128638.06 $

22 913.70 $ 8 370&!!.14 $ 6349 417.10

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

TIFT COUNIY BOARD OE EDUCATION COMBINED STATEMENT OF BE\/ENUFS EXPENDJIUBES AND CHANGES IN FUND BAI ANCES
ACTIJAL ANP BUDGFT- GOVERNMENTAi FUND TYPES YEAR ENPEP JUNE :30 1994

EXHIBIT"C"

ACTUAL PER
EXHIBIT"B"

ADJUSTMENTS

ACTUAL PER
BUDGET BASIS

BUDGET

VARIANCE FAVORABLE (UNFAVORABLE)

~
State Funds Federal Funds Local and Other Funds

$ 21,179,046.53 $ 3,788,087.49
6,655, 195.43

0.00 $

21,179,046.53 $ 21,405,399.16 $ 3,788,087.49 3,463,573.00 6,655 195.43 5,974,352.00

-226,352.63 324,514.49 680843.43

Total Revenues

31,622,329.45 $

0.00 $ 31,622 329.45 $ 30,843,324.16 $

TT9,005.29

EXPEN!;l!I!.!RES

Current 1-..ction Support Services Pupil services Improvement of Instructional Services Educational Media SelVices General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation SelVices Central Support 5elVices Other Support SelVices Food Services Operation Other Operations of NonInstructional Services
C.pital Outlay

$ 19,879,507.35 $
1,249,TT1.80 523,269.22 704,205.66 688,163.11
1,m,864.95 109,169.97
1,711,454.56 1,067,TT8.15
111,205.65 164,809.65 2,049,667.54
193,828.74 284,744.51

0.00 $

19,879,507.35 $ 19,486,206.16 $

1,249,TT1 .80 523,269.22 704,205.66 688,163.11
1,m,864.95 109,169.97
1,711,454.56 1,067,TT8.15
111,205.65 164,809.65 2,049,667.54

1,266,519.00 551,257.00
978,200.00
1os,n4.oo
1,804,032.00 126,000.00
1,881,137.00 1,180,878.00
108,800.00 131,093.00 1,831,500.00

193,828.74 284 744.51

197,200.00 143,000.00

-393,301.19
16,747.20 27,987.78 273,994.34 17,560.89 31,167.05 16,830.03 169,682.44 113,099.85 -2,405.65 -33,716.65 -218,167.54
3,37126 -141,744.51

Total Expendlturas

$ 30,510,440.86 $

0.00 $ 30,510,440.86 $ 30,391,546.16 $ -118,894.70

Excess of Revenues over (under) Expenditures $ 1,111,888.59 $

0.00 $ 1111,888.59 $ 451,TT8.00 $

680,110.59

QTl::IER FU~ANCIN~ SQYBCES (!JSESl

capital Leases Other Sources Other Uses

$ 926,344.88 1,804,309.71 $ -1,604,309.71

$ 0.00

926,344.88

$

1,604,309.71 $ 1,307,855.00

-1 604,309.71

-878,797.00

926,344.88 296,454.71 -n5512.11

Total other Financing Sources (Uoes)

$ 926,344.88 $

0.00 $

926,344.88 $ 429,058.00 $

497,286.88

Excess of Revenues and Other Financing Sourcas over (under) Expenditures and other Financing Uses
F!,!!!l!;l 1!61 ~!:;E J!JLY 1 1993

2,038,233.47 $ 6,349,417.10

0.00 $ -54,082.91

2,038,233.47 $ 880,836.00 $ 6,295,334.19 6,495,156.04

1,157,397.47 -199,821.85

,!li;iJ!JiilTME!!!Il!

Prior Year (Net)

0.00

0.00

-19,408.94

19,408.94

FQQ!;l l!!l~ENTQBY

Donated Commodities

July 1, 1993

-43,840.25

43,840.25

0.00

0.00

June 30, 1994

24,358.82

-24,358.82

0.00

0.00

Purchased Food

July 1, 1993

-10,242.66

10,242.66

0.00

0.00

June 30, 1994

12,981.66

-12,981.66

0.00

0.00

F!,!~!;l lle,L,!INQE J!JNE ~ 1 ~

$ 8,370,908.14 $ -37,340.48 $

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

8 333,567.66 $ 7,356,583.10 $

-5-

976,984.56

TIFT COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAi STATEMENTS

JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Tift County Board of Education (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. With the exception ofthe 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 of the 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 Tift County Board ofEducation.
Based upon the application of the above criteria, the Tift 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 Tift County, Georgia. The Board is not included in any other governmental "reporting entity" as defined by GASB Codification of Governmental Accounting and Financial Reporting Standards.
Board members were elected by the public and have decision making authority, the power to designate management, 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.
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TIFT 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 of the 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. All outstanding principal and interest has been liquidated and after passage of an appropriate resolution by the Board, the balance in this Fund may be transferred to the General Fund and expended for purposes of the General Fund.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for material capital lease obligations.

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TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS

JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 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 ofavailable 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.
Governmental funds are accounted for using the modified accrual basis of accounting under which:
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount 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 if they 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 ofpersonnel 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 ofEducation to the 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 ofthe 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.

- 8-

TIFT COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BUDGET
Tift County Board ofEducation 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 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 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 CASH DEPOSITS Cash and cash equivalents consist of deposits (including 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 Joan associations. The placement of proceeds from bond issues in certificates of deposit is limited to financial institutions located within this State.
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds in the following:
(I) Obligations issued by the State of Georgia or by other states,
(2) Obligations issued by the United States government,
(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,
(4) Obligations of any corporation ofthe United States government,
(5) Prime banker's acceptances,
- 9-

TIFT COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(6) The Local Government Investment Pool administered by the Office of Treasury and Fiscal Services,

(7) Repurchase agreements, and

(8) Obligations of other political subdivisions of the State of Georgia.

RECEIVABLES

Receivables consist ofgrant reimbursements due from Federal, State or other grantors 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 Tift County Board ofCommissioners fixed the property tax levy for the 1993 tax year (calendar year) on October 21, 1993 (levy date). Taxes were due on December 20, 1993. 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 ofGASB codification section P70. }03. The Tift County Tax Commissioner bills and collects the property taxes for the Board ofEducation, withholds 2.5% oftaxes collected as a fee for tax collection, and remits the balance of taxes collected to the Board.

The tax millage rate levied for the 1993 tax year (calendar year) for the Tift County Board ofEducation was as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations

ll,.llmills

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 offund balance which indicates that these amounts do not constitute "available spendable resources" even though they are a component of net current assets.

- 10 -

TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
PREPAID ITEMS
Payments made to vendors for services that will benefit periods subsequent to June 30, 1994, are recorded as prepaid items.
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 ofthis 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 of money which has not been secured by surety bond, by guarantee of insurance, or by collateral in an amount of not 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.
Acceptable security for deposits consists of any one of or any combination of the following:
( 1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
- 11 -

TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30 1994

Note 2: DEPOSITS AND INVESTMENTS

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

(5) Bonds of any public authority created by the laws ofthe 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 $7,679,156.83. The amounts of the total bank balances are classified into three categories of credit risk:

Category I - 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, 1994, as follows:
Risk Category I 2 3
Total
CATEGORIZATION OF INVESTMENTS Investments are classified as to risk by the three categories described below:

Bank Balance $ 200,200.00
7,478,956.83 0.00
$767915683

Category I - Insured or registered, or securities held by the Board or the Board's agent in the Board's name.

- 12 -

TIFT COUNTY BOARD OF EDUCATION

EXEilBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30 1994

Note 2: DEPOSITS AND INVESTMENTS

Category 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the Board's name.
Category 3 - Uninsured or unregistered, with securities held by the counterparty, or by its trust department or agent but not in the Board's name.

Funds invested in an investment pool managed by another government are not required to be categorized unless the investing entity owns specific, identifiable investment securities in the pool.

At June 30, 1994, the carrying amount of the Board's total investments was $2,938,582.00 and consisted entirely offunds in the Local Government Investment Pool administered by the 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.

Note 3: NON-MONETARY TRANSACTIONS

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: 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. Claims are paid from the same fund that had previously paid the salary and benefits for the unemployed individuals. During fiscal year 1994, a total of$1,697.35 was paid in claims.

Note 5: GENERAL LONG-TERM DEBT

CAPITAL LEASES The Tift County Board ofEducation has entered into a lease agreement as lessee for equipment. This lease agreement qualifies as a capital lease for accounting purposes and, therefore, has been recorded at the present value ofthe future minimum lease payments as ofthe date ofits inception.

The changes in General Long-Term Debt during the fiscal year ended June 30, 1994, were as follows:

Balance July 1, 1993 Additions Balance June 30, 1994

Capital Leases

$

0.00

926 344.88

$ 226 31188

- 13 -

TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO TifE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30 1994

Note 5: GENERAL LONG-TERM DEBT

At June 30, 1994, payments due, by fiscal year which includes principal and interest for these items:

Fiscal Year Ended June 30
1995 1996 1997 1998
Total Principal and Interest
Deduct: Imputed Interest
Net Present Value ofFuture Minimum Lease Payments
Note 6: SIGNIFICANT COMMITMENTS

Capital Leases $ 255,181.70 255,181.70 255,181.70 255 181.70 $1,020,726.80 94 381.92
$ 926 344 88

At June 30, 1994, the Board had encumbrances in the amount of$307,395.94 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with the Lottery Programs. The Georgia Department ofEducation has funding available to the Board in an amount equal to these encumbrances. The revenues and expenditures associated with these encumbrances will be recognized in the subsequent fiscal year. 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:

Computers in Classrooms Distant Learning Media Center and Library Equipment Safe Schools Grant Georgia Public Telecommunications Commission Distant Learning

$ 68,484.89 8,866.61
175,000.00 50,649.44 4 395.00
S 3073~

The .following is an analysis of significant outstanding construction or renovation contracts executed by the Board as ofJune 30, 1994, together with funding available:

Project

Unearned Executed Contracts

Funding Availabfe From State

Tift County High School 92/92S-737-08TJ

$ 423,171.39$

0.00

514 350.00 5 630 614.00

S 937 52) 39 S 5 630 6)4 00

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

- 14 -

TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
nJNE 30 1994

Note 7: CONTINGENT LIABILITIES
Amounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position.
The Board is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition ofthese proceedings is not presently determinable, but are not believed to be material to the general purpose financial statements.
Note 8: RETIREMENT PLANS
TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)
TRS PLAN DESCRIPTION SubstantiaJly aJ1 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 ofcreditable 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 ofyears 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 annuaJly 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 aJlowance, whichever is larger. The benefit is based on the member's creditable service (minimum of IO 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 Jess than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest.
The Board's payroll for employees covered by TRS for the year ended June 30, 1994, was $17,421,008.32; total payroll was $19,333,892.30

- 15 -

TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30 1994

Note 8: RETIREMENT PLANS

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 ofreturn on investments) was 7.50%.

Total contributions made during fiscal year 1994 amounted to $3,074,797.10, of which $2,029,592.44 was made by the Board and $1,045,204.66 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 Unfunded pension benefit obligation

12 821 722 000.00
$ I 090 292 ooo oo

The measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 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$2,029,592.44 was actuarially determined and represented .3891% 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.

- 16 -

TIFT COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE30 1994

Note 8: RETIREMENT PLANS
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.
PSERS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal 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. Ifthere are less than ten years of service, a lump sum refund of the 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 ofwhat 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 of employer contributions occurs, but the member's contnbutions are refunded with interest.
There were 180 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 $5,992.00. 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 9: SURETY BONDS
Mr. Frank C. King, School Superintendent through June 30, 1994, was bonded in the amount of$100,000.00 with the Hartford Insurance Company, Hartford, Connecticut, their Bond No. RN 4625740.
The School Superintendent, Dr. Daniel Lee McIntyre, effective July 1, 1994, is bonded in the amount of $100,000.00 with the Hartford Insurance Company, Hartford, Connecticut, their Bond No. 4669932, on which premium is paid through July I, 1995.
- 17 -

TIFT COUNTY BOARD Of EDUCATION COMBINING BAI ANCE SHEET
SPECIAL REVENUE EUNP JUNE30 1994

~ Cash and Cash Equivalents
Accounts Receivable Inventories
Food Donated Commodities Purchased Food
Tolal Assets
LIABII mEs ANR FUND EQl,!ITY lJAlillJitE.S
Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue
Total Liabilities
EUNPEOUJTY
Fund Balances Reserved For Continuation of F-ral Programs For Inventories Food Donated Commodities Purchased Food
Unreserved Undesignated
Tolal Fund Equity
Total Liabiltties and Fund Equity

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

STAlE PRESCHOOL HANDICAPPED
PROGRAM

DRUG- FREE SCHOOLS AND COMMUNmES
ACT

$ 1,087,346.68 $ 94,627.45$

0.00

27,317.38

54,688.69

$

14,554.00

24,358.82 12,981.66

$ 1,152.004.54 $ 149,316.14 $

0.00 $

14,554.00

35,008.09 $ 102,896.25

75,447.05
19,021.24 54,847.85

$ 137,904.34 $ 149,316.14

$

3,618.96

2,306.39

8,614.17

14.48

$

14,554.00

$ 24,358.82 12,981.66
$ 37,340.48
s?s,759.n s
$ 1,014,100.20 $

0.00 $ 0.00 $

$ 1,152,004.54 $ 149,316.14 $

0.00 $

0.00

0.00 $

0.00

0.00 $

14,554.00

See notes to the general purpose financial statements.

-18-

EXHIBIT"E" Page1

EDUCATION OF CHILDREN IN
STATE SCHOOLS

ELEMENTARY AND SECONDARY EDUCATION ACT

CHAPTER 1

PEACHTREE

EDUCATION OF

MIGRANT

CHAPTER2

DEPRIVED

MIGRANT EDUCATION BLOCK GRANT.

CHILDREN

PROGRAM

AGENCY FLOW THROUGH

TITLEII EISENHOWER MATHEMATICS AND SCIENCE
EDUCATION

$

0.00 $

0.00 $

86.52

$

2,166.00 $

199,879.93 $ 23,445.45

2,166.00$

199.879.93 $ 23,445.45 $ _ ___.o.;;;00~$----"o;;;.oo~ s _ _ _.;:ss;;;::;;:s2~

$

762.56 $

10,850.02 $

6,842.85

228.60

42,904.38

2,938.66

1,174.84

146,026.84

9,514.72

98.69

4,151.20

$

2,166.00 $

199,879.93 $ 23,445.45

$

16.76

$

16.76

69.76

69.76 $ _ _ _ _~0-~00_$ _ _ _ _0_._00~$ _ _~0~.00~$ _ __:0,:.00:.S _ _ __:0,:.OO:. -----"'0.::,:00,c.
_ _ _ _ _o==00'-$ _ _ _ _0==00'-$ _ _~0~.00=$ _ _~0-~00=$ _ _ _~o~.00=$ _ _ _..=69ece.c76'-

$ _ _ _ _2_.1_66_._oo_s

199,879.93 $ 23,445.45 s _ _-"'o."'oo"'s _ _ ___.o;;;.oo;.s _ _ _..;as=.52=-

-19

IIEI t:QL!t:IIY 6-Q!BQ QE EQU~aIIQ~ ~M~ININ~ ~!.AN~E Sl::1E~
~PE~l61 BE~NUE E!JHQ JUNE3Q 1994

~ Cash and Cash Equivalents Accounts Receivable
Inventories Food Donated Comrnodllies Purchased Food
Tola! Assets
LIABILITIEl; [INQ FUNQ EQIJITY
Ll[IBILITIES
Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue
Tola! Liabilities
EUNP EQUITY
Fund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food
Unreserved Undesignated
Total Fund Equity
Total Liabillties and Fund Equity

DEVELOPMENTAL DISABILITY
BASIC SUPPORT AND ADVOCACY
GRANT

EDUCATION FOR HOMELESS CHILDREN AND YOUTH

INDMDUALS WITH

DISABILmEs EDUCATION ACT

TITLEVI, B

FLOW

PRESCHOOL

THROUGH

PROGRAM

$

0.00 $ 21,252.56

$

6,181.33

31,712.79 $

41,273.55

$

6,181.33 $

0.00 $ 52,965.35 $

41,273.55

$

6,181.33

6181.33

$ $ 30,862.09
22,103.26

26,615.47 2,821.70 11,836.38

$ 52965.35 $

41273.55

$

0.00 $

$

0.00 $

$

6,181.33 $

0.00 $

0.00 $

0.00

0.00 $

0.00 $

0.00

0.00 $ 52,965.35$

41,273.55

See notes to the general purpose financial statements.

-20

EXHIBIT"E" Page2

TOTALS JUNE 30, 1994 JUNE 30, 1993

1,203,313.21 $ 945,326.22

401,219.12

323,338.49

24,358.82 12,981.66

43,840.25 10,242.66

$ 1,641,872.81 $ 1,322,747.82

$

54,871.19

192,531.74 $

88,558.47

302,166.46

264,818.40

23,285.61

5,210.69

54,847.85

$

627,702.85 $

338,585.56

$

69.76 $

4,831.83

24,358.82 12,981.66

$

37,410.24$

976,759.72

$ 1,014,169.96 $

43,840.25 10,242.66
58,914.74
925,247.32
984,162.06

1,641,872.81 $ 1,322,747.82

-21-

TlfI COUNTY BOARD OF EQUCATION COMB1NING STATEMENT OF REVENUES fXPENPITUBFS ANP CHANGES IN FIJNP BAI ANCFS
SPECIAi RE\/ENUF B JNP
VEAR FNDEP JUNE 30 1994

~
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 School Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services other Support Services Food Services Operation
Total Elcpenditures
Excess of Revenues over (under) Expenditures
Qit:IFB Fl~QINg SOURCES
Operating Transfers In
Excess of Revenues and Other Financing Sources over (under) Elcpenditures
FUND BALANCE JULY 1
Food Inventory Donated Commodities July 1 June 30 Purchased Food July1 June 30
FUND BAI ANCF JUNE 30

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

STATE PRESCHOOL HANDICAPPED
PROGRAM

DRUG-FREE SCHOOLS AND COMMUNmES
ACT

156,880.00 $ 295,410.76 $ 1,464,581.14
479.718.80
2,101,179.94 $ 295.410.76 $

86,789.00 $
86,789.00 $

76,071.52 76,071.52

231,685.15 $
23,804.78 364.73
1,384.69

37,637.56 523.73

2.049.667 .54

38.09

2.049,667.54 $ 295,438.73 $

51,512.40 $

-27.97 $

86,789.00
86789.00 $ 0.00 $

78,678.74 148.65
78,827.39 -2,755.87

51,512.40 $ 979,330.23

27JJ7
0.00 $ 0.00

0.00 $ 0.00

2 755.87
0.00 0.00

-43,840.25 24,358.82
-10.242.66 12,981.66

$ 1,014,100.20 $

0.00 $

0.00 $

0.00

See notes to the general purpose financial statements.

-22-

EXHIBIT"P Page1

EDUCATION OF CHILDREN IN STATE SCHOOLS

ELEMENTARY AND SECONDARY EDUCATION ACT

CHAPTER 1

PEACHTREE

EDUCATION OF

MIGRANT

CHAPTER2

DEPRIVED

MIGRANT EDUCATION BLOCK GRANT -

CHILDREN

PROGRAM

AGENCY

FLOW THROUGH

TITLE 11EISENHOWER MATHEMATICS AND SCIENCE EDUCATION

13,671.00 $ 1,391,528.95 $ 103,567.13 $ 114,174.65 $ 13,671.00 $ 1,391,528.95 $ 103,567.13 $ 114,174.65 $

61,701.00 $

29,347.00

61,701.00 $

29,347.00

13,506.00 $ 165.00

1,173,309.82 $ 102,232.63 $

513.11 723.99 2,704.76 101,218.24 4,997.95 1,203.58 8,345.60 2,223.26 100,934.65

1,334.50

41,131.29 $ 13,529.02
12,201.71 6,261.88
41,236.57

13,671.00 $ 1,396,174.96 $ 103,567.13 $ 114,360.47 $

0.00 $

-4,646.01 $

0.00 $

-185.82 $

61,556.65 144.35

29.204.13 73.11

61,701.00 $ 0.00 $

29,2TT.24 69.76

0.00 $ 0.00

-4,646.01 $ 4,646.01

0.00 $ 0.00

-185.82 $ 185.82

0.00 $ 0.00

69.76 0.00

_ _ _ _...;o;.;;.oo""' s_____o...o. o=s ______o..o..o. $ ____0_.o_.o.. s______o_.0_0_ $ _ _ _69.......,.7.s..

-23-

TIEI CQUNJY RQABP Of EQUCATJON COMB1NING STAJEMFNT OF REVENUES EXPENDITURES ANP CHANGf;S IN RJNP BAl ANCES
SPECIAL REVENUE FUNP YEAR ENDED JUNE 3Q 1994

~
State Funds Federal Funds Local and Other Funds
Total Revenues
EXPENDITURES
Current Instruction Support SONices Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation
Total Expenditures
Excess of Revenues over (under) Expendib.sres
OTHER FINANCING SOURCES
Operating Transfers ln
Excess of Revenues and Other Financing Sources over (under) Expendib.sres
FUND BAI ANCE JULY 1
Food Inventory Donated Commodities July 1 June 30 Purchased Food July 1 June30
FUND BAI AN~E JLJNf 30

DEVELOPMENTAL DISABILITY
BASIC SUPPORT ANDNJVOCACY
GRANT

EDUCATION FOR HOMELESS CHILDREN ANDYOUTH

INDIVIDUALS WITH

DISABILITIES EDUCATION N:.T

mLEVl,B

FLOW

PRESCHOOL

THROUGH

PROGRAM

6,181.33 $

970.00 S 313,362.79 $

1os,n3.55

----'6::,,,1.:.:Bc:.1.33=$--9-7~0=.00 S 313,362.79 $

106,n3.55

7,586.84

970.00 S 200,715.37 S 38,389.46 62,184.73 12,190.55

62,662.46 35.275.96
1,297.35 7,540.82

----'7'-",586==c84c,$ _ _ _~97=0.0-0 S

-1,405.51 S

0.00 $

313,480.11 $ -117.32 $

106,776.59 -3.04

1,405S1
0.00 $ 0.00

117.32

3.04

0.00 $

0.00 $

0.00

0.00

0.00

0.00

_ _ _ _ _o_.0_0..,$ _ _ _ _ _0_.o.o.. s _ _ _ _o_.00_$ _ _ _ _0_.oo.,

See notes to the general purpose financial statements.

EXHIBIT"P Page2

TOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993

539,079.76 $ 3,681,930.06
479,718.80
4,700,728.62 $

241,111.47 4,244,659.82
502,898.82
4,988,670.11

1,974,558.37 $ 2,154,751.62

197,TT7.91 30,292.85 4,089.45 178,767.64 4,997.95 52,643.64 21,059.88 2,22326 142,209.31 2,049,667.54

246,644.46 39,196.72 3,747.69 210,440.78 3,773.61 26,481.31 25,960.53 50,221.98 170,390.82 1,923,853.72

4,658,288.00 $ 4,855,463.24

42,440.62 $ 133,206.87

4,309.71

46,750.33 $ 984,162.06

133,206.87 862,688.44

-43,84025 24,358.82
-10,242.66 12981.66

-57,137.97 43,84025
-ll,678.19 10,242.66

1,014,169.96 $ 984,162.06

-25-

TIFT COUNTY BOABD OF EDUCATION COMBINING BALANC!; SHEET CAPITAL PROJECTS FUND JUNE 30 1994

ASSETS Cash and Cash Equivalenls lnvestmenls

REGULAR

GEORGIA STATE FINANCING

PROJECT

PROJECT

92/92S-737-080

93/94-737-065

s $ 1,522,912.37

STT,679.80 $

411,188.00

1,402,103.50

Total Assets

$ 2,925 015.87 S

STT,679.80 $

411188.00

LIABILITIES AND FUND !;QUITY LIABILITIES
Contracts Payable Retainages Payable
Total Liabilities FUND EQUITY
Fund Balances Reserved For State Capital Outlay Projects Unreserved Undesignated
Total Fund Equity
Total Liabilities and Fund Equity

$

31,140.90

3,667.71

$

34,808.61

$ $ 2 890,207.26 $ 2 890,207.26 $

sn,679.80 $ 0.00
STT,679.80 $

411,188.00 0.00
411188.00

$ 2,925,015.87 S

STT,679.80 $

411188.00

See notes to the general purpose financial statements.

-26-

EXHIBIT"G"

AND INVESTMENT COMMISSION

PROJECT

PROJECT

94/948-737-055

94/94S-737-056

TOTALS JUNE 30 1994 JUNE 30 1993

$

103,628.00 $

45,935.00 $ 2,761,343.17 $ 1,072,279.40

1,402,103.50

1588966.69

$

103,628.00 $

45 935.00 $ 4,163,446.67 $ 2,661,246.09

$

31,140.90

3 667.71 $ _ _..::12::,.9::.;1c::8:..::.0~0

$

34 808.61 $ _ _..::12::,.9::.;1c::8:..::.0~0

103,628.00 $

0.00

$

103628.00 $

45,935.00 $ 1,238,430.80 $ 1,088,867.80

0.00

2 890207.26

1 559460.29

45 935.00 $ 4 128 638.06 $ 2 648 328.09

$

103,628.00 $

45,935.00 $ 4,163,446.67 $ 2,661,246.09

-27-

TIFT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30 1994

REVENUES Local and Other Funds
EXPENDITURES Capital Outlay Professional and Technical Services Building and Building Improvements 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
FUND BALANCE JUNE 30

REGULAR

GEORGIA STATE FINANCING

PROJECT

PROJECT

92/92S-737-080

93/94-737-065

104 581.08 $

o.oo $ ______0_._00_

$

23,217.81 $

0.00 $

0.00

201 053.30

$ 224 271.11 $

0.00 $

0.00

$ -119690.03 $

0.00 $

0.00

$ 1,450,437.00 $ 1 450437.00 $ 1,330,746.97 $
1 559460.29

0.00 $ 677 679.80

0.00 411188.00

$ 2,890,207.26 $

677,679.80 $

411188.00

See notes to the general purpose financial statements.

-28-

EXHIBIT"H"

AND INVESTMENT COMMISSION

PROJECT

PROJECT

94/94S-737-055

94/94S-737-056

TOTALS YEAR ENDED JUNE 30 1994 JUNE 30, 1993

$

0.00 $

0.00 $ 104 581.08 $ _ _.:_70=50::,2,::.04=

$

0.00 $

0.00 _$

23,217.81

201 053.30 $ 262 984.21

$

0.00 $

0.00 $ 224 271.11 $ 262 984.21

$

0.00 $

0.00 $ -119 690.03 $ -192 482.17

$

103,628.00 $

$

103628.00 $

$

103,628.00 $

0.00

45,935.00 $ 1,600,000.00 $ 1,561,188.00 -411188.00
45 935.00 $ 1,600,000.00 $ 1150 000.00

45,935.00 $ 1,480,309.97 $ 957,517.83

0.00

2 648,328.09

1690 810.26

$

1031628.00 $

45,935.00 $ 4,128,638.06 $ 2,648,328.09

-29-

IIFTQOUNTY~BQQE EQ:\1.Q~ SCHEPLJLE OF FEPfRAL BNANCIAJ &i~l~TANCE
YEAR ENDED JUNE 30 1994

SCHEDUl.E "1"

FUNDING AGENCY PROGRAM/GRANT
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)
Total U.S. Department of Agriculture
Education, U. S. Department of Through Berrian County Board of Education d/b/a Southern Pines Migrant Education Agency Elementary and Secondary Education Act Chapter 1 Migratory Education Program 1994Regular 1994Summer Through Georgia Department of Education Drug-Free Schools and Communities Act 1993Grant 1993 Cany-Over 1994Grant Elementary and Secondary Education Act Chapter 1 Education of Children in State Schools 1993Regular 1993 Carry-Over 1994 Regular Education of Deprived Children 1992 Carry-Over 1993Regular 1993Summer 1993 Carry-Over 1994Ragular 1994Summer Migrant Education 1993Ragular Chapter2 Block Grant. Flow Through 1994Regular Tdlell Eisenhower Mathematics and Science Education 1994Regular lncflViduals with OisabilHies Education Act TH:leVI, B Flow Through 1993Regular 1993 Carry-Over 1994Regular Innovative Special Education Proposal 1993 Carry-Over Preschool Program 1993 Regular 1993 Carry-Over 1994Ragular Stewart B. McKinay Homeless Assistance Act Education for Homeless Chiklren and Youth 1992 Carry-Over 1992 Carry-Over (New)

CFDA NUMBER

AWARDS IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

10.553 10.553
10.555 10.555 10.550

304,439.10
1,008,587.67 151554.37
1484581.14 $

27,827.60

300,260.91 $ 304,439.10

(2)

15,757.11 990,676.48 NIA

1,008,587.67 $ 1,898,113.17 (3)

151554.37

151554.37

1334522.10 $ 1484581.14 $ 2049667.54

84.011 84.011
84.186 84.186 84.186

84,272.88 $ 44,781.02
532.00 75,554.00

84,272.88 $

80,121.68 $ 23,445.45

9,762.27 532.00
61,000.00

517.52 75,554.00

80,121.68 23,445.45
517.52 78,309.87 (3)

84.009 84.009 84.009
84.010 84.010 84.010 ' 84.010 ' 84.010 84.010
84.011

3,405.00 10,266.00
232,266.00 1,179,973.00
55,735.00

84.151

61,701.00

1,748.17 3,405.00 8,100.00
22,003.00 229,444.63 64,747.71 134,000.00 993,000.00
119,674.65

3,405.00 10,266.00
64,747.71 232,266.00 1,071,276.40
23,238.84
114,174.65

3,405.00 10,266.00
69,393.72 232,266.00 1,071,276.40
23,238.84
114,360.47

61,701.00

61,701.00

61,701.00

84.164

32,421.00

29,347.00

29,347.00

29,2TT.24

84.027 84.027 84.027
84.027
84.173 84.173 84.173
84.196 84.196

98,743.00 271,558.00
9,750.00
31,568.00 79,530.00
970.00

5,016.81 72,000.00 200,000.00
9,650.00
-2,900.23 18,500.00 47,000.00

83,876.82 219,835.97
9,650.00
31,568.00 75,205.55

429.35 970.00

970.00

83,876.82 219,953.29 (3)
9,650.00
31,568.00 75,208.59 (3)
970.00

. 30.

TIFT COUNTY BOARD Of EDUCATION SCHEDULE Of EEPERAL F1NANCIAI ASSISTANCE
YEAR ENPfP JUNE 30 1SKW

SCHEDULE "1"

FUNDING AGENCY PROGRAM/GRANT
Education, U.S. Department of Through Georgia Departmern of Education Vocational Education - Basic Grants to States High School Pragram Basic Grant 1993Grant 1994Grant Consumer and Homemaking Education 1894 Contract Supplementary State Grants for Facilities 1893 Conbacl Tech-Prep Education 1993Grant 1994Grant
Total U.S. Department of Education
Health and Human Services, U. S. Department of Through Georgia Department ol Human Resources Developmental Disability Basic Support and Inclusion Grant 1994 Grant
OTHER FEDERAL ASSISTANCE
Defense, U.S. Oeparbnenl of Direct Department ol the Air Force R.O.T.C. Pragram 1993Grant 1994 Grant

CFDA
~

AWAADS IN PERIOD

FEDERAL FUNDS RECEIVED IN PERICO (NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

84.048 84.048
84.049
84253
84.243 84243

$ 27,217.94 14,814.74
32 841.26 2 347 999.84 $

1,273.30 18,182.51 $

27,217.94

1 ,123.64

14,814.74

1,114.81

15,804.n 20451.68

32841.26

2J44 455.05 $ 2 286141.53 $

(4) (4)
(4) 2218805.88

93.630 $

8636.00

6181.33 $

7586.84 (3)

31183.48

6,048.88

24647.19 $ 31183.49

(4)

31183.48 $

30896.07 $ 31183.49

Total Federal Financial Assistance

$ 3 852 400.46 $ 3 609 673.22 $ 3 788 087.49 $ 4276 060.27

Major Programs are identified by an asterisk r> in front of the CFDA number.
(1) The amounts shown lot lhe Food Distribution Program rep,esents lhe Fedarally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the cummt fiscal year.
(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1994 National School Lunch Pragram.
(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.

See notes to the general purpose financial statements.

31

TIFT COUNTY BOARD OF EDUCATION ANALYSIS OF CASH AND CASH EQUIVALENTS
JUNE 30 1994

SCHEDULE "2"

NONINTEREST BEARING ACCOUNTS
South Georgia Banking Company, Tifton, Georgia
INTEREST BEARING ACCOUNTS
Citizens Bank of Tifton, Tifton, Georgia
N.O.W. Account (2.50%)
First Community Bank, Tifton, Georgia
N.O.W. Account (3.55%)

$

200.00

$ 1,090,128.43 4,414,492.50 5,504,620.93

$ 5,504,820.93

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

TIFT COUNTY BOARD OF EDUCATION INVESTMENTS JUNE 30 1994
INVESTMENT POOL Office of Treasury and Fiscal Services Local Government Investment Pool (4.237%)

SCHEDULE "3" $ 2,938,582.00

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

TIFT COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30 1994

SCHEDULE 4

Berrien County Board of Education d/b/a Southern Pines Migrato,y Education Agency Migrato,y Education Program
Coas1al Plain Area Economic Opportunity Authority, Incorporated Sales of Lunches
Defense, Department of Department of the Air Force R.O.T.C. Program
Education, Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education State Funds Federal Funds Lottery Programs Computers in Classrooms Distant Leaming Federal Programs Drug-Free Schools and Communities Act ESEA - Chapter 1 Education of Children in S - Schools Education of Deprived Children Individuals with Disabilities Education Act TrtleVl,B Flow Through Preschool Program
Human Resources, Georgia Department of Developmental Disability Basic Support and Advocacy Grant
Tri! County Tax Commissioner County Wode Bond Tax County Wide School Tax

GOVERNMENTAL FUND TYPES

SPECIAL

DEBT

GENERAL

REVENUE

SERVICE

FUND

FUND

FUND

TOTAL

$ 23,445.45

$ 23,445.45

5,228.00

5,228.00

$ 6,536.30

6,536.30

54,913.39 22,216.11

4,178.19 17,911.19
53,304.00 1,384.69 14,554.00 2,166.00
199,879.93

31,712.79 41,273.55

4,178.19 17,911.19
54,913.39 22,216.11
53,304.00 1,384.69
14,554.00
2,166.00 199,879.93
31,712.79 41,273.55

6,181.33
$ 50,713.80

6,181.33

3.30

3.30

50,713.80

$ 134,379.60 $ 401,219.12 $ _ _ _3._30_ $ 535,602.02

See notes to the general purpose financial statements.

- 34 -

TIFT 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 Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Governor's Emergency Funds (1) Innovative Programs Mentor Teacher Program Preschool Handicapped Program Special Education Low Incidence Grant Supervision and Assessment of Student and Beginning Teachers and PerformanceBased Certification Teachers' Retirement Lottery Programs Algebra Classrooms Computers in Classrooms Distant Leaming Pre-Kindergarten Program Safe Schools Grant
Georgia Public Telecommunication Commission Lottery Program Distant Leaming
OTHER Education, Georgia Department of Student Information Systems Project

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

$ 12,445,840.00 2,145,525.00 469,182.00 546,122.00 181,520.00 3,788,981.00

$ 12,445,840.00 2, 145,525.00 469,182.00 546,122.00 181,520.00 3,788,981.00

527,287.00 179,904.00 534,606.00 131,209.00 -2,474,944.00 1,632,774.00
$ 469,730.56

156,880.00

527,287.00 179,904.00 534,606.00 131,209.00 -2,474,944.00 1,632,774.00 156,880.00 469,730.56

2,000.00 4,800.00 4,080.00
17,870.00

86,789.00

2,000.00 4,800.00 4,080.00 86,789.00 17,870.00

2,150.00 27,830.21

2,316.00 108,000.00
1,384.69 145,535.92
37,637.56

2,150.00 27,830.21
2,316.00 108,000.00
1,384.69 145,535.92
37,637.56

536.59

536.59

3500.00

3 500.00

$ 20,639,966.77 $ 539,079.76 $ 21,179,046.53

(1) 1994 Georgia School of Excellence

See notes to the general purpose financial statements.

- 35 -

TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE
YEAR ENDED JUNE 30 1994

SCHEDULE"6"

Taxes County Wide Bond Tax County Wide School Tax Railroad Car Tax Real Es1ate Transfer Tax
other
Class Action Sult Sogreen Court Order
Compensation for Loss of Assets For Head Start Program
Coastal Plain Area Economic Opportunity Authority, Incorporated
For Salaries Georgia Young Farmers Association Lowndes County Board of Health Tift County Band Booster Association Tift County High School
For Technical Preparation Program Moultrie Technical I,,,._ Local Match
Indirect Cost Special Revenue Fund
Interest Eamed Rents Sales
Meals other Shared Service Contributions Tifton..Tift County Public Library TLition other

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE PROJECTS

FUND

FUND

DEBT SERVICE
FUND

TOTAL

$ 5,613,322.27 136.16
14,325.04

$

81.28 $

81.28

5,613,322.27

136.16

14,325.04

102,962.05 20,585.17

5,228.00
7,307.05 40,992.00
470.00 7,200.00

6,709.88

43,468.23 135,269.23 $
6,376.32

30,558.22 $ 104,581.08

431,219.10 17,771.75

850.00 56,295.00
8,527.33

169.73

102,962.05 20,585.17

5,228.00
7,307.05 40,992.00
470.00 7,200.00

790.54

6,709.88
43,468.23 271,199.07
6,376.32
431,219.10 17,771.75
850.00 56,295.00 8,697.06

$ 6,070,023.73 $ 479,718.80 $ 104,581.08 $

871.82 $ 6,655,195.43

See notes to the general purpose financial s1aternents.

- 36 -

TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT
GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30 1994

SCHEDULE '7"

EXPENDITURES
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 Rents Insurance Communications Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Federal Indirect Costs Other Expenditures
Nonoperating Costs Land and Land Improvements Building and Building Improvements Equipment
Total Expenditures

GENERAL FUND

SPECIAL REVENUE
FUND

TOTAL

$ 17,166,194.34 $ 2,167,697.96 $ 19,333,892.30

4,690,914.64

599,575.92

5,290,490.56

101,407.26

29,277.48

130,684.74

109,587.99

80,211.86

189,799.85

14,910.65

14,910.65

59,213.12

51.65

59,264.77

189,466.08

48,948.88

238,414.96

16,093.40

8,167.73

24,261.13

46,020.97

46,020.97

58,269.00

7,040.45

65,309.45

11,821.20

11,821.20

22,600.34

465.00

23,065.34

14,699.96

40,528.20

55,228.16

850,975.64

237,984.70

1,088,960.34

618,111.39

12,609.22

630,720.61

972,165.03

972,165.03

236,122.54

2,132.07

238,254.61

27,491.00

4,332.64

31,823.64

43,468.23

43,468.23

28,329.66

3,975.88

32,305.54

39,369.90 12,831.00 1,325,272.87

387,833.90

39,369.90 12,831.00 1,713,106.77

$ 25,627,881.75 $ 4,658,288.00 $ 30,286,169.75

See notes to the general purpose financial statements. - 37 -

TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT
LOTTERY PROGRAMS YEAR ENDED JUNE 30 1994

EXPENDITURES
Operating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Supplies Dues and Fees Other Expenditures
Nonoperating Costs Equipment
Total Expenditures

ALGEBRA CLASSROOMS

COMPUTERS IN
CLASSROOMS

DISTANT LEARNING

$

2,343.97

$

1,384.69

$

108,000.00

$

2 343.97 $

108,000.00 $

1 384.69

See notes to the general purpose financial statements. - 38 -

SCHEDULE "8"

PRE-KINDERGARTEN PROGRAM

SAFE SCHOOLS
GRANT

G.P.T.C. DISTANT LEARNING

TOTAL

$

61,936.23

18,136.66

2,258.61

297.63

22,596.40

495.30

38.09

$

61,936.23

18,136.66

2,258.61

297.63

$

536.59

26,861.65

495.30

38.09

39,777.00 $

37,637.56

185,414.56

$

145 535.92 $

37,637.56 $

536.59 $ 295,438.73

- 39 -

TIFT 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 Media Center Programs in Excess of Total Media Allotment Expenditures for Staff Development Programs in Excess of Total Staff Development Allotment for: Cost of Instruction Professional Development
Expenditures per Audit
Amount of Underexpenditure for Total Allotment

THIRTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

STAFF DEVELOPMENT
PROGRAM

$ 15,606,669.00 $

181,520.00

$ 15,621,542.66 801,561.06 $
$ 16,423,103.72 $

188,525.67 188,525.67

-153,994.21

$ 16,269,109.51 $

-1,305.70 -5,699.97
181,520.00

$

o.oo $====o=.o=o

See notes to the general purpose financial statements. - 41 -

TlfT COUNTY RQARQ Of EQLJCATION ANALYS1S9f MINIM( IM EXPENQffiJRf Bf;QlJfBfUf;tfl'S - RV PBQC".JMM
GENERAL FUND- Qt.JAi ITY BASIC f;DlJCADQN ffiOGBA.MS
YEAR ENPfP II lNE 30 1994

GENERAi ANP CAREER fQUCATJQN PROGRAMS 1<1.-gi,rtenr) Grad51 -3 (1
Sub-Total - K-3 Grad54-5r) Grad56-8 (1 Grad5 9-12 r) High School Laboratories r) Vocational Education Laboratories Ci
Total General and career Education Programs SPfCIAl fpt JQATIQN PRQGRAMS
Regular Programs Categoiyl(1 Categoiy II (1 Categoiy Ill (1 Categoiy IV r) Itinerant Supplemental Speech Sub-Total - Regular categcxy V (Gilled) (1 Tatel Special Education Programs
RE:UFQIAl fQl IQA.TIQN PRQGRAM r) Ml;QIA Cf;NTFR PROGRAMS
Total Thirteen Weighted and Media Cent~
STAFF PEYehQPMfNT ffiOGRAMS (1) Cost o( lrmuction -Oevelopment
Total StaffOevelopment
(1 Identifies Thirteen Weghted Programs. Note: (1) $21,110.25dtheallotmentforProfessional
Oevelopment has been transferred to Cost rA Instruction as authorized by OCGA 20-2-182.
See notes to the general purpo&e financial statements.

ORIGINAL

ALLOTMENTS FROM DEPARTMENT OF EDUCATION

REQUIRED

TOTAL

....!L

ORIGINAL

Ml~TERM

REQUIRED

1,221,660.00 3 096 906.00 $ 4,318,566.00 1,667,640.00 3,086,470.00 1,881,316.00
712,575,00 779 273.00 $ 12 445 840.00

1,099,494.00 $

2 787 215.40

90 $ 3,886,709.40 $

90

1,500,876.00

90

2, TT7,823.00

90

1,693,184.40

90

641,317.50

90

701 345.70

$ 11 201 256.00 $

0.00 $ 1,099,494.00 2 787 215.40
0.00 $ 3,886,709.40 1,500,876.00 2,m,823.oo 1,693,184.40 641,317.50 701 345.70
0.00 $ 11 201 256.00

1,954,478.00

1,759,030.20 $

0.00 $ 1,759,030.20

1,954,478.00 90 $ 1,759,030.20 $

191 047.00 90

171 942.30

$ 2145 525.00

1 930 972.50 $

469182.00 90 $

422 263.80 $

546122.00 90 $

491 509.80 $

$ 15,606,669.00

$ 14 046,002.10 $

0.00 $
0.00 $ 0.00 $ 0.00

1,759,030.20 171 942.30
1 930972.50 422 263.80 491 509.80

0.00 $ 14046002.10

61,895.25 100 $ 119 624.75 100

81,895.25 $ 119 624.75

181,520.00

181 520.00 $

$ 15,788,189.00

$ 14,227 522.10 $

0.00 $ 0.00

61,895.25 119624.75

0.00 $

181,520.00

0.00 $ 14,227 522.10

- 42 -

SCHEDULE "10"

REQUIRED ALLOTMENT

SALARIES ACTUAL

DISTRIBUTION BY RESPECTIVE PORTIONS

AMOUNT OF UNDER EXPENDITURE
FOR REQUIRED ALLOTMENT

REQUIRED ALLOTMENT

OPERATIONS

AMOUNT OF

UNDEREXPENDITURE

FOR REQUIRED

ACTUAL

ALLOTMENT

1,071,536.40 $ 1,184,871.48

27,957.60 $

32,844.11

2 701198.80

3131 766.99

86 016.60

103 806.51

3,772,735.20 $ 4,316,638.47 $

0.00

113,974.20 $

136,650.62 $

0.00

1,455,867.00

1,596,378.20

0.00

45,009.00

60,111.23

0.00

2,697,166.80

2,901,061.65

0.00

80,655.20

113,440.88

0.00

1,620,189.00

2,141,113.12

0.00

72,995.40

131,218.63

0.00

613,778.40

633,300.71

0.00

27,539.10

52,631.12

0.00

612 034.20

826 758.16

0.00

89311.50

98 015.14

0.00

$ 10771 770.60 $ 12 415 250.31 $

0.00

429 485.40 $

592 067.62 $

0.00

3,690.90 $ 840,247.20 755,766.90 108,248.40
4,330.80 5 283.00

19,837.46 968,150.75 866,330.95 108,488.15

184.50 $ 17,565.30 20,095.20
3,618.00

599.15 19,135.17 21,257.38
6,649.02

1,717,567.20 $ 1,962,807.31 $

0.00

41,463.00 $

47,640.70 $

0.00

167 292.00

275 559.03 $

0.00

4 650.30

6175.40 $

0.00

1 884859.20 $ 2 238 386.34

46113.30 $

53 816.10

415 030.50 $

415 628.76 $

0.00

7 233.30 $

7 855.38 $

0.00

380 989.80 $

552 297.25 $

0.00

110 520.00 $

147 818.96 $

0.00

$ 13,452,650.10 $ 15 621,542.66 $

0.00

593,352.00 $

801,561.06 $

0.00

61,895.25 $

63,200.95 s

0.00

119 624.75

125 324.72

0.00

181,520.00 $

188,525.67 $

0.00

$ 13,452,650.10 $ 15,621 542.66 $

0.00

774,872.00 $

990,086.73 $

0.00

. 43.

TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS
YEAR ENDED JUNE 30 1994

SCHEDULE "11"

BOARD MEMBER ADDRESS
Mr. Hal Henderson. Chairman c)
2802 Moore Highway, ABAC 47 Tifton, Georgia 31794
Mr. Bill Brim 2426 Michael Drive Tifton, Georgia 31794
Mr. Tim Dorminey () 4425 Frazier Circle Tifton, Georgia 31794
Mr. Roy Jackson, Jr. () Route 4, Box 2000 Tifton, Georgia 31794
Mr. Tommy Lindsey() P. 0. Box98 Omega, Georgia 31775
Mrs. Barbara McCoy c)
2606 Wilson Avenue Tifton, Georgia 31794
Mrs. Mary McMillion (J
1501 South Central Avenue Tifton, Georgia 31794
Mrs. Leona Mott () 3111 Eason Avenue Tifton, Georgia 31794
() Denotes Board Members Serving as of June 30, 1994

COMPENSATION

TRAVEL

$

2,250.00 $

1,109.16

950.00

600.00

1,900.00 1,800.00 2,100.00

367.36 439.18 494.95

1,450.00

1,450.00

$

12,500.00 $

2,410.65

See notes to the general purpose financial statements. - 44 -

SECTION II COMPLIANCE

CLAUDE L. VICKERS
STATE AUDITOR (404) 656-2174

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
March 22, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Tift County Board of Education
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Tift County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated March 22, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
We conducted our audit in accordance with generally accepted auditing standards and 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 general purpose financial statements are free of material misstatement.
Compliance with laws, regulations, contracts, and grants applicable to Tift County Board of Education is the responsibility of the Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective of our audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion.
The results of our tests indicate that, with respect to the items tested, the Tift County Board of Education complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Board had not complied, in all material respects, with those provisions.

94CRL-10

This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,

CLV:cm 94CRL-10

Claude L. Vickers State Auditor

CLAUDE L. VICKERS
STATE AUDITOR {404) 656-2174

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
March 22, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Tift County Board of Education

SINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS

Ladies and Gentlemen:

We have audited the general purpose financial statements of the Tift County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 22, 1995 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 have applied procedures to test the Board's compliance with the following requirements applicable to each ofits Federal financial assistance programs, which are listed in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1994:

(1) Political Activity

(5) Allowable Costs/Cost Principles

(2) Civil Rights

(6) Drug-Free Workplace Act

(3) Cash Management

(7) Audit Follow-Up/Resolution

(4) Federal Financial Reports

(8) Administrative Requirements

Our procedures were limited to the applicable procedures described in the Office ofManagement and Budget's "Compliance Supplement for Single Audits of State and Local Governments" and other additional procedures as deemed necessary. Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Board's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion.

94CRL-60

Material instances of noncompliance consist offailures to follow the general requirements that caused us to conclude that the misstatements resulting from those failures are material to the Federal financial assistance programs. The results of our tests of compliance disclosed a material instance of noncompliance that is described in the Schedule ofFindings and Improper or Questioned Costs.
We considered this material instance of noncompliance in forming our opinion on whether the Tift County Board of Education general purpose financial statements are presented fairly, in all material respects, in conformity with generally accepted accounting principles, and this report does not affect our report dated March 22, 1995, on those financial statements.
Except as described above, the results of our procedures to determine compliance indicate that, with respect to the items tested, the Tift County Board of Education, complied, in all material respects, with the requirements listed in the second paragraph of this report, and with respect to items not tested, nothing came to our attention that caused us to believe that the Board had not complied, in all material respects with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:cm 94CRL-60

C!AUDE L. VICKERS
STATE AUDITOR (404) 656-2174

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
March 22, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Tift County Board ofEducation

SINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS

Ladies and Gentlemen:

We have audited the general purpose financial statements ofthe Tift County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated March 22, 1995. 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 have also audited the Tift County Board ofEducation's compliance with the requirements governing:

(1) Types of Services Allowed or Unallowed

(5) Applicable Special Tests and Provisions

(2) Eligibility
(3) Matching, Level ofEffort, and/or Earmarking

(6) Other Requirement Claims for Advances and Reimbursements

(4) Reporting

These requirements are applicable to the major Federal financial assistance programs, which are identified in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1994. The management of the Tift County Board of Education is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit.

94CRL-80

We conducted our audit ofcompliance in accordance with generally accepted auditing standards; Government Auditing Standards issued by the Comptroller General ofthe United States; and Office of Management and Budget (0MB) 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 material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Tift County Board of Education's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the Tift County Board of Education complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance programs for the year ended June 30, 1994.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:cm 94CRL-80

CLAUDE L. VICKERS
STATE AUDITOR (404) 656-2174

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
March 22, 1995

Honorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Tift County Board ofEducation

SINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS

Ladies and Gentlemen:

We have audited the general purpose financial statements of the Tift County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated March 22, 1995. 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.

In connection with our audit of the fiscal year 1994 general purpose financial statements of the Tift County Board ofEducation and with our consideration ofthe Board's internal control structure used to administer Federal financial assistance programs, as required by Office ofManagement and Budget (0MB) Circular A128, "Audits of State and Local Governments", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1994. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements governing:

( 1) Types of Services Allowed or Unallowed

(2) Eligibility

Our procedures were substantially less in scope than an audit, the objective of which is the expression ofan opinion on the Tift County Board of Education's compliance with these requirements. Accordingly, we do not express such an opinion.

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing

94CRL-120

came to our attention that caused us to believe that the Tift County Board of Education had not complied, in all material respects, with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,

CLV:cm 94CRL-120

Claude L. Vickers State Auditor

SECTION III INTERNAL CONTROL

CIAUDE L. VICKERS
STATE AUDITOR (4Q4) 656-2174

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
March 22, 1995

Honorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board ofEducation
and Superintendent and Members of the Tift County Board ofEducation
REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements ofthe Tift County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 22, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
We conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standards, issued by the Comptroller General ofthe United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.
In planning and performing our audit of the general purpose financial statements of the Tift County Board of Education for the year ended June 30, 1994, we considered the internal control structure in order to determine our auditing procedures for the purpose ofexpressing our opinion on the general purpose financial statements and not to provide assurance on the internal control structure.
The management of the Tift County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not
94ICL-3

be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate.

For the purposes of this report, we have classified the significant internal control structure policies and procedures in the following categories:

(1) Cash and Cash Equivalents (2) Investments (3) Inventories (4) Revenue/Receivables/Receipts (5) Procurement

(6) Expenditures/Liabilities/ Disbursements
(7) Employee Compensation (8) General Ledger
(9) General Fixed Assets

For all ofthe internal control categories listed above, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk.

We noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements.

As descnbed in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category:

General Fixed Assets

A material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose 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 structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition disclosed above is also considered to be a material weakness.

This condition was considered in determining the nature, timing, and extent of the procedures to be performed in our audit of the Tift County Board of Education's financial statements and this report does not affect our report thereon dated March 22, 1995.

94ICL-3

This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,

CLV:cm 94ICL-3

Claude L. Vickers State Auditor

CLAUDE L. VICKERS
STATE AUDITOR (404) 656-2174

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
March 22, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Tift County Board of Education
SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Tift County Board of Education as ofand for the year ended June 30, 1994, and have issued our report thereon dated March 22, 1995. 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 have also audited the Board's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated March 22, 1995.
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 Office of Management and Budget (0MB) Circular A-128, "Audits ofState 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 and about whether the Tift County Board ofEducation complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program.
In planning and performing our audit for the year ended June 30, 1994, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and on its compliance with requirements applicable to major Federal financial assistance programs and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated March 22, 1995.
94ICL-5

The management of the Tift County Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that Federal financial assistance programs are managed in compliance with applicable laws and regulations. Because ofinherent limitations in any internal control structure, errors, irregularities or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness ofthe design and operation of policies and procedures may deteriorate.

For the purposes of this report, we have classified the significant internal control structure policies and procedures used in administering Federal financial assistance programs in the following control categories:

GENERAL REQUIREMENTS

SPECIFIC REQUIREMENTS

(1) Political Activity (2) Civil Rights (3) Cash Management (4) Federal Financial Reports

(1) Types of Services Allowed or Unallowed
(2) Eligibility
(3) Matching, Level ofEffort, and/or Earmarking

(5) Allowable Costs/Cost Principles

(4) Reporting

(6) Drug-Free Workplace Act (7) Audit Follow-Up/Resolution (8) Administrative Requirements

(S) Applicable Special Tests and Provisions
(6) Other Requirement Claims for Advances and Reimbursements

For all of the internal control structure categories listed above, we obtained an understanding ofthe design ofrelevant policies and procedures and whether they have been placed in operation, and we assessed control risk.

During the year ended June 30, 1994, the Tift County Board ofEducation expended 72% of its total Federal financial assistance under major Federal financial assistance programs.

We performed tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to
preventing or detecting material noncompliance with general requirements and specific requirements as described above that are applicable to each of the Board's major Federal financial assistance programs, which

94ICL-S

are identified in the Schedule ofFederal Financial Assistance. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion.
Our consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might constitute material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more ofthe internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program 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 structure and its operation that we consider to be material weaknesses as defined above.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:cm 94ICL-5

SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS

TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30 1994
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $31,327.10 Audit Control Number 7371-93-02
The audit report for the year ended June 30, 1993, disclosed that the Staff Development - Professional Development Stipends Program had an underexpenditure of Quality Basic Education (QBE) funds of $31,327.10 for the required minimum allotment. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department of Education to refund this underexpenditure as required. The underexpenditure of$31,327.10 should be returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal year.
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 7371-93-01
The audit report for the year ended June 30, 1993, noted that the management of the Tift County Board of Education had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include but may not be limited to date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group.

TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30 1994
CURRENT YEAR
ALLOWABLE COSTS/COST PRINCIPLES Expenditures in Excess ofBudget Federal Financial Assistance Material Noncompliance Amount: $11,797.73 Audit Control Number 7261-94-01
In the year under review, the Board overspent one budget category in Title VI, B - Flow Through funds (CFDA 84.027) without seeking approval of the Georgia Department of Education. According to the State agency's instructions, the Board was required to obtain an amendment to its approved budget (DE-0885) when expenditures in a budget category exceed 120 percent of the approved amount. It was noted that the Board expended $31,226.93 in fiscal year 1994 Title VI, B funds for Pupil Services purposes which represented a 193% increase above the $16,191.00 approved for this budget category. A total of $11,797.73 was inappropriately expended which represents the amount in excess of the budget approval threshold of $19,429.20 ($16,191.00 X 120%).
The Georgia Department of Education should review this matter to determine the allowability of the $11,797.73 overexpended by the Board. The Board should implement measures to assure that budget amendments are obtained when expenditures are expected to exceed 120 percent ofa budget category.
Note: The Tift County Board ofEducation was provided an opportunity to include pertinent comments from
the Board's management concerning these audit findings, conclusions and recommendations. The Board has
elected not to provide comments for inclusion in this report.