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

TIFT COUNfY BOARD OF EDUCATION -TABLE OF CONTENTS-

SECTION!

FINANCIAL

INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS

EXHIBITS

GENERAL PURPOSE FINANCIAL STATEMENTS

COMBINED STATEMENTS - OVERVIEW

A

COMBINED BALANCE SHEET

ALL FUND TYPES AND ACCOUNT GROUP

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

C

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

(NON-GAAP BASIS)

GENERAL AND SPECIAL REVENUE FUNDS

D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS.

ADDIDONAL FINANCIAL INFORMATION

COMBINING STATEMENTS

SPECIAL REVENUE FUND

E

COMBINING BALANCE SHEET

F

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

CAPITAL PROJECTS FUND

G .

COMBINING BALANCE SHEET

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

DEBT SERVICE FUND

I

COMBINING BALANCE SHEET

J

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

SCHEDULES

I SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 2 SCHEDULEOFSTATEREVENUE 3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS

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4 7 8
20 22
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28 29 30
32 33

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TIFT COUNTY BOARD OF EDUCATION -TABLE OF CONTENTS -

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

4

OVERALL

5

BYPROGRAM

Page
35
36

SECTION II
COMPLIANCE AND INTERNAL CONTROL REPORTS
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCEWITHGOVERNMENTAUDITINGSTANDARDS
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULAR A-133

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

SECTIONN FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS

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SECTION I FINANCIAL

w. RUSSELL

HINTON .

STATE AUDITOR

(404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334~8400
April 12, 200 I

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Tift County Board of Education
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Ladies and Gentlemen:
We have audited the accompanying general purpose financial statements ofthe Tift County Board of Education, as of and for the year. ended June 30, 2000, as listed in the table of contents. These general purpose financial statements are the responsibility of the Tift County Board of Education's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Coinptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the finan;ial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows:
* The general purpose financial statements of the Board did not contain a General Fixed
Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles.
2000ARL-13

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* School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements.
* The Board did not recognize as expenditures, in the year ended June 30, 2000, a portion
of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 2000. Also funds received, subsequent to June 30, 2000, from the Georgia Department of Education for the State's share of these umecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1999, were improperly recorded in the year ended June 30, 2000. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed.
The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material.
In our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements referred to above present fairly, in all material respects, the financial position ofthe Tift County Board ofEducation as of June 30, 2000, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles.
In accordance with Government Auditing Standards, we have also issued our report dated April 12, 2001, on our consideration of the Tift County Board of Education's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit.
Our audit was performed for the purpose of forming an opinion on the general purpose financial statements of the Tift County Board of Education taken as a whole. The accompanying combining statements (Exhibits E through J) and the financial schedules (Schedules 1 through 5), which includes the Schedule ofExpenditures of Federal Awards as required by U.S. Office ofManagement and Budget Circular A-133, Audits ofStates, Local Governments, andNon-Profit Organizations; are presented for purposes of additional analysis and are not a required part of the general purpose financial statements. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly stated, in all material respects, in relation to the general purpose financial statements taken as a whole.
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A copy of this report has been filed as a permanent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code ofGeorgia Annotated Section 506-24.
Respectfully submitted,
ql,,00 4)_4J~
~ e l l W. Hinton State Auditor
RWH:gp 2000ARL-13

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TIFT COUNTY BOARD OF EDUCATION

TIFT COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUP JUNE 30. 2000

ASSETS
Cash and Cash Equivalents
Investments
Accounts Receivable
Prepaid Items
Inventories Food Donated Commodities Purchased Food
Amount to be Provided in Future Years For Payment of Bond Debt

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

$ 2,781,746.85 $

548,565.91 $

377,053.01

6,574,979.04

555,693.71

875,152.62

1,002,995.63

31,369.43 22,374.66

Total Assets

$ 3,337,440.56 $ 1477462.62 $ 7,955,027.68

LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft Accounts Payable Salaries Payable Notes Payable Expired Grant Balances Payable General Obligation Bonds Payable
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Continuation of Federal Programs For Homeless Project For Inventories Food Donated Commodities Purchased Food For Purpose of Bond Issue For SPLOST Projects For State Capital Outlay Projects Unreserved Undesignated
Total Fund Equity

$

556,980.78 $

232,617.49 $

619,703.98

369,206.72

$

556 980.78 $

601 824.21 $

619 703.98

$

16,883.45

$ 2,780,459.78 $ 2,780,459.78 $

31,369.43 22,374.66
$
805,010.87 875 638.41 $

7,139,582.14 179,656.76
16 084.80
7,335,323.70

Total Liabilities and Fund Equity

$ 3,337,440.56 $ 1,477,462.62 $

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

7,955,027.68

EXHIBIT"A"

DEBT SERVICE
FUND

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS

(Memorandum Only)

JUNE 30, 2000

JUNE 30, 1999

$ 3,707,365.77 $ 3,302,434.78

6,574,979.04

4,979,876.13

$

37.53

2,433,879.49

1,690,084.52

11,000.00

31,369.43 22,374.66

_ _ _ _ _ _ $ _ _1"'2,.,,3"'6,.5,.,.o""oo'"'.o"'o'-

12,365,000.00

44,159.29 15,888.56
13,515.000.00

$

37.53 $

12,365,000.00 $ 25 134,968.39 $ 23,558,443.28

$

37.53

$

37.53 $

397.14

1,409,302.25

364,882.26

369,206.72

332,502.14

1,200,000.00

39,158.69

$

12.365.000:00

12.365.000.00

13.515,000.00

$

37.53 $

12,365,000.00 $ 14 143 546.50 $ 15,451,940.23

$

0.00

$

0.00

$

16,883.45

$

2,748,67

31,369.43 22,374.66
7,139,582.14 179,656.76
3,601,555.45
$ 10 991 421.89 $

44,159.29 15,888.56
7,688.45 4,796,471.91
3,239,546.17
8,106,503.05

$

37.53 $

12,365,000.00 $ 25,134,968.39 $ 23,558.443.28

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

REVENUES

,.,

State Funds

. J

Federal Funds

Taxes

Other Funds

Total Revenues

EXPENDITURES

Current
Instruction
Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services
. Central Support Services . Other Support Services
Food Services Operation Enterprise Operations Community Services Operations Capital Outlay Debt Service Principal Interest Paying Agent Fees

Total Expenditures

Excess of Revenues over (under) Expenditures

OTHER FINANCING SO!,JRCES (USES}

Operating Transfers In Operating Transfers Out

Total Other Financing Sounces (Uses)
Excess of Revenues and Oth~ir Financing Sources ~..: i::
over (under) Expenditures and Oth8r Financing Uses

FUND BALANCE JULY 1

Food Inventory- Net Change in Period Donated Commodities Purchased Food

GENERAL FUND

SPECIAL REVENUE
FUND

$ 28.282.858.97 $
9.612.057.27 737 915.75
$ 38,632,831.99 $

882.510.22 4.734.657.53
508 742.94
6,125,910.69

$ 25,537.054.07 $
, ' 2,491.123.09
- 1,129.393.97 1,141,946.76 388.762.99 2.908.233.19 159.057.55 2.766.182.60 1.410.880.33 204.717,74 29.845.20
28.537.00 80.752.26
8.000.00

2,798.661.51
253.228.39 313.022.26
49.819.97 254,591.81
721.78
16,720.76 21.278.45
86.579.85 2.303.276.37

$ 38,284,486.75 $

$

348 345.24 $

6 097 901.15 2&009.54

$

$

-68 505.41

$

-68 505.41 $

$

279,839.83 $

2,500.619.95

68,505.41
68 505.41
96,514.95 785.427.22
-12.789.86 6 486.10

FUND BALANCE JUNE 30

$ 2,780.459.78 $

The notes to the general purpose financial statements are an integral part of this statement.
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875 638.41

EXHIBIT"B"

CAPITAL PROJECTS
FUND

DEBT SERVICE
FUND

TOTALS

{Memorandum Only}

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

$ 29,165,369.19 $ 29,988,709.03

4,734,657.53

4, 158,078.40

$ 4,336,503.22 $ 1,578,085.75

15,526,646.24

13,498,546.08

32 446.02

302 845.65

1,581,950.36

1 448 504.38

$ 4,368,949.24 $ 1,880,931.40 $ 51,008,623.32 $ 49,093,837.89

$ 28.335,715.58 $ 27,444,537.43

$

27,500.00

1,826,581.42

2,744,351.48 1,442,416.23 1,191,766.73
643,354.80 2,908,954.97
186,557.55 2,782,903.36 1,432,158.78
204,717.74 116,425.05 2,303,276.37 28,537.00 80,752.26 1,834,581.42

2,453,661.67 1,495,421.37 1,231,222.74
624,571.17 2,883,523.59
218,121.78 2,699,304.24 1,359,012.60
198,907.16 81,556.98 2,544,874.98 32,693.00 60,748.49 7, 168,978.95

$ 1,150,000.00 727,756.40 3 175.00

1,150,000.00
727,756.40 3175_00

1,090,000.00 773,876.43 5 381.20

$ 1,854,081.42 $ 1,880,931.40 $ 48117 400.72 $ 52,366,393.78

$ 2,514,867.82 $

0.00 $ 2,891,222.60 $ -3,272,555.89

$ 2,514,867.82 $ 4,820,455.88

$

68,505.41 $

735,053.37

-68 505.41

-735,053.37

$

0.00 $

0.00

0.00 $ 0.00

2,891,222.60 $ -3,272,555.89

8,106,503.05

11,395,521.94

-12,789.86 6 486.10

-18,223.79 1 760.79

$ 7,335,323.70 s _ _ _ _o_._oo_ $ 10991421.89 $ 8,106,503.05

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TIFT COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL INONGAAP BASIS\ GENERAL AND SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30 2000

EXHIBIT"C"

GENERAL FUND

ACTUAL

(BUDGET

BUDGET

BASIS\

REVENUES
State Funds Federal Funds Taxes Other Funds
Total Revenues

$ 27,533,604.81 $ 28,282,858.97

9,292,878.00 423 100.00

9,612,057.27 737 915.75

$ 37,249,582.81 $ 38,632,831.99

EXPENDITURES

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

$ 25,694,392.00 $ 25,537,054.07

2,403,000.00 1,200,120.00 1,189,002.00
385,900.00 2,900,000.00
203,000.00 2,936,000.00 1,360,000.00
202,200.00 27,287.00

2,491,123.09 1,129,393.97 1,141,946.76
388,762.99 2,908,233.19
159,057.55 2,766,182.60 1,410,880.33
204,717.74 29,845.20

83,100.00 5 000.00

28,537.00 80,752.26
8 000.00

Total Expenditures Excess of Revenues over (under) Expenditures

$ 38,589,001.00 $ 38,284,486.75 $ 1,339,418.19 $ 348 345.24

OTHER FINANCING SOURCES (USES)

Other Sources Other Uses

$

10,000.00

-68 146.00 $

Total Other Financing Source$ (Uses) $ 58 146.00 $

-68 505.41 -68 505.41

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

$ 1,397,564.19 $

279,839.83

FUND BALANCE JULY 1 1999

2,278,477.90

2,500,619.95

Food Inventory Net Change In Period Donated Commodities Purchased Food

FUND BALANCE JUNE 30 2000

$ sao s1J.11 s 2,1ao.4sg.1a

SPECIAL REVENUE FUND

ACTUAL

(BUDGET

BUDGET

BASIS)

$ 850,749.73 $ 882,510.22

4,436,724.00

4,734,657.53

485,000.00

508 742.94

$ 5,772,473.73 $ 6,125,910.69

$ 2,590,054.12 $ 2,798,661.51

211,250.34 360,680.65 107,858.00 175,495.62

253,228.39 313,022.26
49,819.97 254,591.81
721.78

16,681.00

16,720.76 21,278.45

55,000.00 2,479,500.00

86,579.85 2,303,276.37

$ 5,996,519.73 $ 6,097,901.15 $ 224,046.00 $ 28 009.54

$ 68,146.00 $ 68,505.41 $ 68 146.00 $ 68 505.41

$ 155,900.00 $ 96,514.95

833,867.04

785,427.22

12,789.86 6 486:10

$ 677 967.04 $ 875 638.41

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

TIFT"COUNTY BOARD OF EDUCATION ..

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIALSTATEMENTS

JUNE30;2000

Note 1: SUMMARY OF SIGNIFICANT-ACCOUNTING POLICIES

REPORTING ENTITY

The Tift County Board of Education (Board) was established under the laws ofthe State of Georgia

and operates under the guidance of_ a,_school ,board elected by the voters and a Superintendent

appointed by theBoard. The Board is organized as a separate legal entity and has the power to levy

taxes and issue bonds. Its budge( is not subjectto approval by any other entity. Accordingly, the

a Board is .

p. rimary

government

and' consists -~ -

of

all

the

organizations

that

compose

its
'.~ '

legal

entity.

FUND ACCOUNTING

The Board u~es funds and an account group to ~eport_ on its financial position and the results cif its

operations. Fund accounting is designed to demonstrate legal compliance and to aid financial

management by segregating \ransactions related to certain governmental functions or activities. A

io fund is a separate accounting entit};'with a self0balancing set of accounts. An_ account group is a
financial reporting device designed provi<;le accountability for certain assets and liabilities that are

not recorded in the funds because they do not _directly affect expendable available financial

resources.

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General Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A

.General Fi~ed Assets Account Group is not presently maintained by the Board. To conform to

generally accepted accounting principles, a General Fixed Assets Account Group should be

maintained for reporting the cost of assets acquired by governmental fund types: - '

. Although "school activity accounts" are maintained at the individual schools, neither the assets,

liabilities and fund equity, nor the reven,ues, expenditures and changes in fund balances of these

accounts

a.re

.
reflected

in

these

.

.

financial

statements.

.n .
To conform to generally accepted accounting

principles, these accounts should be recorded in the general purpose financial statements.

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The general purpose financial_statements account for all State, Federal, Taxes and Other funds under

. control of the Board, in comP.liance 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:

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GOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's educational

activities. Governmental Fund Types include: . -

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v, '.,

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, . GENERAL FUND - the fund used to account for all financial resources ofthe Board except those

required to be accounted for in another fund. These transactions relate to resources obtained and

used for services provided by a board of education.

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TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are received primarily from the Georgia Department of Education and from the Federal government to accomplish specific educational objectives.
CAPITAL PROJECTS FUND - the fund used to account for financial 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.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for general obligation debt outstanding.
BASIS OF ACCOUNTING
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements ofthese funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources.
Liabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from
available spendable resources, are reported in the General Long-Term Debt Account Group.
Governmental funds are accounted for using the modified accrual basis of accounting under which:
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Those revenues considered susceptible to accrual are property taxes, local option sales taxes, intergovernmental grants and investment income.
Expenditures are generally recognized when the related fund liability is incurred.
A departure from the above definitions is the accounting_treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share of these contracts. During fiscal year 2000, a substantial number of personnel of the Board were employed for a one hundred and ninety day
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TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

.

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

period beginning in late August 1999 and ending in early June 2000. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly paymevts beginning in September I999 and ending in August 2000. State grants to fund the _S_tate's share of these 'contracts were disbursed from the Georgia Department ofEducation to the Board in the same twelve months. As ofJune 30. 2000. compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 2000, had.not been ma9e. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 2000. Also, the State's portion of the compensation paid in July and August 2000 was received and recorded as-revenue iri the fiscal. yeaFsubsequentto June 3.0,:2000. _,Conversely. the similar expenditures and related revenues for contractual services completed prior to June 30, 1999, were recorded in the year ended June 30, 2000. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when
incurred, rather than when funds are received or disbursed.

BUDGET

The Tift County Board ofEducation's budget is a complete financial plan for the Board's fiscal year

and is based upon estimates of expenditures together with probable funding sources. There is no

statutory prohibition regarding overexpenditure of the budget at any level. The budget for all

governmental funds is prepared by fund, function and object., The legal level ofbudget control was

established by the Board at the aggregate level, The budget for go,vemmental funds was prepared on

a basis other than generally accepted accounting principles. '

.

The budget process begins when the Board's administration prepares a tentative; bu~get f~r the

Board's approval. After approval ofthis tentative budget by the Board, such budget is advertised at

-least once in a newspaper of general circulation in the locality. At the next regular meeting of the

Board after advertisement, the Board receives comments on the tentative budget, makes revisions as

necessary and adopts a final school budget. This final budget is then submitted, in accordance with

provisions of the Quality Basic Education Act, OCGA Section 20-2-167(c), to the Georgia

Department of Education. The Board may increase or decrease the budget at any_time during the

_year. All unexpended budget authority lapses at fiscal year-end.

'

. CASH AND CASH EQUIVALENTS

COMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits in authorized financial institutions.. Georgia Laws OCGA 45-8-14 authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered b_uilding_and loan associations.

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TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Board in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase of one year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following:
(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 of the United States government,
(5) Prime banker's acceptances,
(6) The Local Government Investment Pool administered by the State of Georgia; Office of Treasury and Fiscal Services,
(7) Repurchase agreements, and .
(8) Obligations of other political subdivisions ofthe State of Georgia.
RECEIVABLES
Receivables consist ofgrant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables.
PROPERTY TAXES
The Tift County Board of Commissioners fixed the property tax levy for the 1999 tax year (calendar year) on August 3, 1999 (levy date). Taxes were due on November 15, 1999. The lien date for .property taxes was January I, 1999. Taxes collected within the current fiscal year or within 60 days
- 11 -

TIFT COUNTY BOARD-OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

after year-end are reported as revenue in fiscal year 2000. 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 1999 tax year (calendar year) for the Tift County Board of

Education was as follows (a mill equals $1 per thousand dollars of assessed value):. . .

I.

School Operations

r , .

,.ll.1.2 mills.

SALES TAXES

Special Purpose Local Option Sales Tax is to be used for capital outlay for educational purposes and

debt service. Special Purpose Local Option Sales Tax revenue during the fisca_l year amounted to

$5,912,609.45 and was recorded in the Capital Projects and Debt Service Funds. The State will

terminate collection ofthis tax once an additional $15,588,064.42 has been collected or on June 30,

2002, whichever occurs first.





-





. .'

. r .

INVENTORIES

FOOD INVENTORIES

. '

Inventories of donated food commodities used in the preparation of meals are reported on the

Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported

on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded

as revenues and expenditures at the time commodity items are received, Purchased foods inventories

are recorded as expenditures at the tini.e ofpurchase. The)nventories reported on the balance sheet

for donated food commodities and for purchased foods are equally offset by reservations of fund

balance which indicates that these amounts do not constitute "available spendable resources" even

though they are a component of net current assets.



GENERAL OBLIGATION BONDS

J

I ,

The Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. B9nd J)remiums and discounts, as well as issuance costs, are recognized in the financial statements during the year bonds are issued. General obligation bonds _are direct obligations and pledge the full faith and credit ofthe government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group.

INTERFUND TRANSACTIONS

The Board has the following types of interfund transactions:

'.J.'. : ( ' ~ I - 1
., '

- 12 -

TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2000

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 ofoperations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
Note 2: DEPOSITS AND INVESTMENTS
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum ofmoney which has not been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate ofthe face value of such surety bond and the market value of securities pledged shall be equal to not less than 11 Opercent ofthe public funds being secured after the deduction ofthe amount ofdeposit.insurance. Ifa depository elects the pooled method (OCGA 45-8-13.1) the aggregate ofthe market value ofthe securities pledged to secure a pool ofpublic funds shall be not less than 110 percent ofthe daily pool bl!la.nce. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion, waive the requirement for security in the case ofoperating funds placed in demand deposit checking . accounts.
Acceptable security for deposits consists of any one of or any combination ofthe following:
(I) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or ofthe State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities ofthe State of Georgia,
(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
- 13 -

TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL'STATEMENTS

JUNE 30. 2000

Note 2: DEPOSITS AND INVESTMENTS.

(6) Industrial revenue bonds and borids of development authorities created by the laws of the

State of Georgia, and .

; .. ,

,..

-. ,i . ' /

(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

Loan States government both as to principal and interest or debt obligations issued by the Federal

Land Bank, the Federal Home

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 MortgageAssociation. , , .

, ,..

_.

:( ,;- .,;

r

';r-1,

_,;*,.J

. CATEGORIZATION OF DEPOSITS , ' At June 30, 2000,'the bank balances were $9,090,237.56. The amounts ofthe total bank balances are

classified into three categories of credit risk:

Category 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with

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

Category 2 - Cash collateralized with securities held by the pledging financial .institution"s

' '1 . - trust department or agent in the Board's name~

-'

. '

Category 3 - Uncollateralized deposits. (This includes any bank balance that is ccillateralized

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'categ_ory at June 30. 2000; as follows:
' ' - -. .

Risk Category

Bank Balance

' .. $ 313,724.02
6,270,822.55
2,505,690.99

, Total '

; ,

$9,090,237.56

CATEGORIZATION OF INVESTMENTS Investments are classified as'to risk by the three categories described below: ,;, : ,'..

categciry 1-~ ' Insured ol' registered, or securities held by the Board or the Board'.s agent in the

Board's name.



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 coi.mterparty, or by its

trust department or agent but not in the Board's name.

'J.

,,J:.. . ) .. ):<:.
. r

'.:. i.: t ... ,_, >~.

~ ' ,,,-:,

... J.

-:--14-

TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 2: DEPOSITS AND INVESTMENTS
At June 30, 2000, the carrying value of the Board's total investments was $6,574,979.04 which is materially the same as fair value. This investment consisted entirely of funds invested in the Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services which are not required to be categorized since the Board did not own any specific identifiable securities in the pool. The investment policy ofthe State ofGeorgia, Office ofTreasury and Fiscal Services for the Local Government Investment Pool (Primary Liquidity Portfolio) does not provide for investment in derivatives or similar investments. A description of the Primary Liquidity Portfolio is as follows:
The Primary Liquidity Portfolio consists of Georgia Fund I, which is a combination local and state government investment pool, and Fund 6. Georgia Fund I is a stable net asset value investment pool which follows Standard and Poor's criteria for AAAm rated money market funds. The pool is not registered with the SEC as an investment company but does operate Georgia Fund I in a manner consistent with Rule 2a-7 ofthe Investment Company Act of 1940 and is considered to be a Rule 2a7 like pool. The pool's primary objectives are safety of capital, investment income, liquidity and diversification while maintaining principal ($1.00 per share value). Net asset value is calculated weekly to ensure stability. The pool distributes earnings (net of management fees) on a monthly basis and values participant's shares sold and redeemed based on $1.00 per share. Pooled cash and cash equivalents and investments are reported at cost which approximates fair value. The pool does not issue any legally binding guarantees to support the value ofthe shares. Participation in the pool is voluntary and deposits consist of funds from local governments; operating and trust funds of Georgia's .state agencies, colleges and universities; and current operating funds .of the State of Georgia's General Fund.
Investments in Georgia Fund I and Fund 6 are directed toward short-term instruments such as U.S. Treasury obligations, securities issued or guaranteed as to principal and interest by the U. S. Government or any of its agencies or instrumentalities, banker's acceptances and repurchase agreements. The weighted average maturity of Georgia Fund I may not exceed 60 days. The weighted average maturity for Georgia Fund I on June 30, 2000, was 23 days. The average investment duration for Fund 6 on June 30, 2000, was .80 year.
Note 3: NON-MONETARY TRANSACTIONS
The Board receives food commodities from the United States Department ofAgriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories
Note 4: RISK MANAGEMENT
The Board is exposed to various risks ofloss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster and unemployment compensation.
- 15 -

TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 4: RISK MANAGEMENT

The Board.has obtained commercial insurance for risk ofloss associated with torts, asse\s, errors or

'-omissions and job related illness or injuries to employees. The Board has neither signific\llltly

.reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's

insurance coverage in any of the past three years.

, . .. - :, ; , ,

. '.

. . .

The Board has elected to self-insure for all losses related to natural disaster. The Board has not

experienced any-losses relatedto this risk in the past three years. l'

:: :, .. t . ~

The Board is self-insured with regard to unemployment compensation claims. The Board accounts

for claims within the General Fund with expenditure and liability b_eing reported when it is probable

that a Joss has occurred, and the amount of that Joss can b_e reasonal;>ly estimated.

i

f



'

'

'

Changes in the unemploymen\ compensation claims liability during the l_ast two fiscal years are as

follows:, 1' ' :
1.
' ....:..i

. ... L

Qr tf : ._

r, ' .; r

,.

, Beginning

of Year.

Liabilil):

,: .. ~,

111:

< . 1,...

, ' _. J

c

! , l

. Claims and . _,_

.Changes i.n Estimates

Claims.
Paid

, v.

,,

I ,.

' '

E. nLdiaobfilYil)e:a.r,

1999

1

. I '$. 2.9:iS.63 $ r : 5' 648.00 $

2,935.63 . $_ _5=64.,_,8"'.o""'o

, ..2000

: $ ' .. 5'648.00' '$ . 4 837.00 $

.

..,

:. .J[ l.1 f

9 033.00 - $ 1452.00
, '---'-"""-""""

as TheB~.;;d has"pu;chased s~etybonds to provide additional in~urance coverage follows: .

Position Covered

l,

,,

'.

'. I

' ,

I

Superintendent

Each Employee

Amount
$ . 100,000.00 $ 10,000.00

Note 5: GENERAL LONG-TERM DEBT
.] _I

'., -' - I

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

" . Purpose '

Interest Rates

Amount'

General Government - Series 1995 General Government - Series 1997

4.30% - 6.125% 3,79% - 4.35%

$ 9,690,000.00 2,675,000.00

$12,365,000.00
l .

. - 16-

TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 5: GENERAL LONG-TERM DEBT

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

General Obligation
Bonds

Balance July 1, 1999

$13,515,000.00

Deductions Debt Retired

l, 150,000.00

Balance June 30, 2000

$ 12.365.000.00

At June 30, 2000, payments due by fiscal year which includes principal and interest for these items are as follows:

Fiscal Year Ended June 30

General Obligation
Bonds

2001 2002 2003 2004 2005 2006 - 2010 2011 - 2015

$ 1,897,886.26 1,913,686.26 1,935,461.26 977,168.76 981,993.76 5,021,941.30 5,253,006.28

Total Principal and Interest

$17.981.)43.88

Note 6: ON-BEHALF PAYMENTS

The Board has recognized revenues and expenditures in the amount of $555,973.69 for health insurance and retirement contributions paid on the Board's behalfby the following State Agencies.

Georgia Department of Education Paid to the Georgia Department of Community Health For Health Insurance of Non-Certified Personnel In the amount of $423,251.33

- 17 -

r TIIT COUNfY BOARD OF EDUCATION

EXHIBIT "D"

,' NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 6: ON-BEHALF PAYMENTS

Paid.to the Teachers Retirement System of Georgia .

'': .'

For Teachers Retirement System (TRS) Employer's Cost

In the amount of$50,503.36

Office of Treasury and Fiscal Services . Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost
., '. . Inthe amount of$82,219.00

Note 7: CONTINGENT LIABILITIES

-

r,

; : _;

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 oven1ll financial position. . , '. ,', ..

Note 8: SUBSEQUENT EVENTS

On March 20, 2001, the voters ofTift County voted in favor of a Special Purpose Local Option Sales
Tax refereIJdum for educational purposes. The imposition of the tax approyed by the voters, as
stated in part of the Official Ballot of Tift County, is as follows:

, .. " "Shall a special one percent sales and use tax be imposed in Tift County for a period of time ,:. ,! , .not to exceed 20 calendar quarters and for the raising of not more than $40,000,000 for the
purpose of funding the acquisition, construction and equipping of a new elementary school and maintenance warehouse, improvements at G.O. Bailey Primary School, Northside . Primary School, Len Lastinger Primary School, and Omega Elementary, improvements at certain other existing schools, and the conversion of Annie Belle Clark Primary School?

If imposition of the tax is approved by the voters, such vote shall also.constitute approval of

the issuance of general obligation debt ofTift County School District in the principal amount

of $24,320,000 for the above purposes, includiJ!g capitalized_ Jnterest. through August I,

2002."

.Note 9: RETIREMENT PLANS

..

TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)
J ' ' ' , .-
TRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical p~rsonnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disability retirement and

- 18 -

TIFT COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 9: RETIREMENT PLANS

survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts.

TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 11.29% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows:

Fiscal Year

Percentage Contributed

Required Contribution

2000 1999 1998

100% 100% 100%

$ 2,953,134.77 $ 3,002,697.49 $2,697,623.69

-.19-

TIFT COUNTY BOARD OF EDUCATION

' ' ;"

COMBINING BALANCE SHEET

SPECIAL REVENUE FUND

JUNE 30 2000

' '
ASSETS'.
Cash and Cash Equivalents
Ac.c.o, un' ts Re~-ceivable . , ~ I
J
Inventories, ,:. .Food
. Donated Commodities . ' , / Purchased Food:

. '. ~ ,

- -

Total Assets

i

- ' , '' t

...

LIABILITIES AND FUND EQUITY

LIABILITIES

Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable

Total Liabilities

FUND EQUITY

Fund Balances Reserved For Continuation of Federal Programs For Homeless Project For Inventories Food Donated Commodities . Purchased Food Unreserved Undesignated
Total Fund Equity

' '
: j,,

. \ . '7 .1 ,' ... ' 1
- SCHOOL FOOD
'SERVICES' ~FUND

... ~J
LOTTERY PROGRAMS
' ,

$

908,914.95 $

42,910.47

. ('- \ ~-~-,~-
16,007.76, :,, .. , 58,979.98

I '

31,369.43' 22 374.66

$

978 666.80 $

101 890.45

$

7,848.79 $

112,063.05

53,816.69 48,073.76

$

119 911.84 $

101 890.45

$

31,369.43

22,374.66

805 010.87 $

0.00

$

858,754.96 $

0.00

Total Liabilities and Fund Equity
See notes to the general purpose financial statements.
, r .'." 20 -

$

978,666.80 $ =..,,.:1~0,;.1~89~0~.4~5~

EXHIBIT "E"

FEDERAL
PROGRAMS

TOTALS

JUNE 30, 2000

JUNE 30 1999

$

951,825.42 $

701,761.17

$

800,164.88

875,152.62

560,028.57

31,369.43 22 374.66

44,159.29 15 888.56

$

800 164.88 $ 1,880,722.13 $ 1,321,837.59

$

403,259.51 $ 403,259.51 $

103,531.20

170,952.01

232,617.49

80,352.42

209,069.91

369,206.72

332,502.14

20 024.61

$

783 281.43 $ 1,005,083.72 $

536 410.37

$

16,883.45 $

16,883.45

$

2,748.67

31,369.43 22,374.66

44,159.29 15,888.56

0.00

805 010.87

722 630.70

$

16 883.45 $

875 638.41 $

785427.22

$

800 164.88 $ 1 880 722.13 $ 1,321,837.59

- 21 -

TIFT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES
SPECIAL REVENUE FUND YEAR ENDED JUNE 30. 2000

REVENUES

State Funds Federal Funds Other Funds

Total Revenues

EXPENDITURES

Current

Instruction

Support Service's

Pupil Services

Improvement of Instructional Services

Educational Media Services

General Administration

School Administration

Maintenance and Operation of Plant

Student Transportation Services

Other Support Services

Food Services Operation

~ .. '

Total Expenditures

_,

Excess of Revenues over (under) Expenditures

OTHER FINANCING SOURCES (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

.. ' l/'

Food Inventory - Net Change in Period Donated Commodities Purchased Food

FUND BALANCE JUNE 30

- .. . -

See notes to the general purpose financial statements. .-22 -

SCHOOL FOOD
SERVICES . FUND

LOTTERY PROGRAMS

$
"

193,656.00. .$ 1,682,690.60

508 742.94

$ 2,385,089.54 $

688,854.22 688,854.22

$

$ 2,302,709.37

_$ 2,302,709.37 $

$

82 380.17 $

564,803.86 74,712.96 63.71 27,335.93 16,720.76 4,650.00
567.00 688,854.22
0.00

$

82,380.17 $

0.00

782,678.55

0.00

-12,789.86 6 486.10

$

858,754.96 $

0.00

EXHIBIT"F"

FEDERAL PROGRAMS

TOTALS

YEAR ENDED

JUNE 30, 2000

JUNE 30; 1999

$

882,510.22 $

834,513.23

$ 3,051,966.93

4,734,657.53

4, 158,078.40

508 742.94

482 659.61

$ 3,051,966.93 $ 6,125,910.69 $ 5 475 251.24

$ 2,233,857.65 $ 2,798,661.51 $ 2,347,755.58

178,515.43 312,958.55
49,819.97 227,255.88
721.78
16,628.45 86,579.85

253,228.39 313,022.26
49,819.97 254,591.81
721.78 16,720.76 21,278.45 86,579.85 2,303,276.37

172,864.86 312,664.41
37,386.42 240,387.79
7,973.77 11,047.82 49,669.76 2,544,874.98

$ 3,106,337.56 $ 6,097,901.15 $ 5,724,625.39

$

-54 370.63 $

28,009.54 $ -249 374.15

$

68,505.41 $

68,505.41 $

111,103.37

-124 050.00

$

68 505.41 $

68 505.41 $

-12 946.63

$

14,134.78 $

96,514.95 $ -262,320.78

2,748.67

785.427.22

1,064,2.11.00

-12,789.86 6486.10

-18,223.79 1 760.79

$

16 883.45 $

875 638.41 $ _ _.78._,5"=4=2=7=.2==2

- 23 -

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

ASSETS Cash and Cash Equivalents Investments Accounts Receivable

(

BoND

r

. 'REGULAR O

. PROCEEDS

$

16,084.80 $

0.00

".

Total Assets

' ,
LIABILITIES AND FUND EQUITY

LIABILITIES
Cash Overdraft Accounts Payable Notes Payable

.. --1.L ,., '

Total Liabilities

FUND EQUITY
Fund Balances Reserved For Purposes of Bond Issue For SPLOST Projects For State Capital Outlay Projects Unreserved Undesignated

r
,..
. -~

Total Fund Equity

Total Liabilities and Fund Equity

$

16 084.80 $

,.

;,;1: .

,. ,- r

,- '

' :\

'.

.i \ .-:_
....... .

", . '

,.,_,.

$ $
,
,: .. $ '

16 084.80 $
..
16 084.80 $
16 084.80 . $

0.00
0,00 0.00 0.00.

See notes to the general purpose financial statements. - 24

EXHIBIT"G"

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION

SPECIAL PURPOSE LOCAL OPTION
SALES TAX

TOTALS

JUNE 30, 2000

JUNE 30, 1999

$

110,561.30 $

250,406.91 $

377,053.01 $

252,817.88

69,095.46

6,505,883.58

6,574,979.04

4,979,562.30

1 002 995.63

1,002,995.63

878 684.84

$

179 656.76 $ 7,759,286.12 $ 7,955,027.68 $ 6111 065.02

$

66,485.54

$

619,703.98 $

619,703.98

24,123.60

1,200,000.00

$

619 703.98 $

619 703.98 $ 1 290 609.14

$

7,688.45

$ 7,139,582.14 $ 7,139,582.14

4,796,471.91

$

179,656.76

179,656.76

0.00

0.00

16 084.80

16 295.52

$

179 656.76 $ 7 139 582.14 $ 7,335,323.70 $ 4,820,455.88

$

179 656.76 $ 7759286.12 $ 7,955,027.68 $ 6111 065.02

- 25-

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

REVENUES
State Funds Taxes Other Funds

-- - ,._. -
,.

. 7 '-
- ., } .;,

Total Revenues

EXPENDITURES

Current

Support Services

Business Administration

Capital Outlay

Salaries

Employee Benefits

Travel of Employees

1

Land and Land Improvements

Building and Buildi~g :1mprov_emi:nts

Equipment

Total Expenditures

Excess of Revenues over (under) Expenditures

OTHER FINANCING SOURCES (USES)

Operating Transfers In Operating Transfers Out

-' .. '

Total Other Financing Sourc':s (Uses) 0

Excess of Revenues and Other Financing Sources_";..., .over (under) Expendiiures and Other Financing uses

FUND BALANCE JULY 1

-~ .1, '.

.,, ....

FUND BALANCE JUNE 30

''
REGULAR.:

,.
,, .

'

c:.

BOND PROCEEDS

'-,1...
.. - $
$

4 866.38 $ 4 866.38 $

18 259.24 18 259.24

$
'_! -; :<;". ' '

$
4,023.60 1,053.50

27,500.00

$

5077.10 $

27 500.00

$

-210.72 $

-9 240.76

$
- '.!. $
. -$
.' --
$

$ 0.00 0.00 $
-210.72 $ 16,295.52
~
16 084.80 $

1,552.31 1 552.31 :7,688.45 7 688.45
0.00

See notes to the general purpose financial statements.

EXHIBIT "H"

GEORGIA STATE FINANCING AND
INVESTMENT
COMMISSION

SPECIAL PURPOSE LOCAL OPTION
SALES TAX

TOTALS

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

$ $ ---""5"'0-"10"'.0"'5'-

$

5 010.05 $

4,336,503.22 $ 4 310.35
4 340 813.57 $

$ 4,336,503.22
32 446.02
4,368,949.24 $

1,087,054.12 3,755,487.26
154 302.24
4,996,843.62

$

27,500.00 $

66,611.11

4,023.60

59,780.04

1,053.50

13,071.18

1,976.09

$

1,115.00

1,115.00

589,227.98

$

18,039.50

544,363.75

562,403.25

5,131,633.41

3 225.00

1 254 761.07

1,257,986.07

1,363,036.15

$

21 264.50 $ 1,800,239.82 $ 1 854 081.42 $ 7,225,335.06

$

-16 254.45 $ 2,540,573.75 $ 2,514,867.82 $ -2,228,491.44

$

195,911.21

$

197,463.52 $ 9,018,162.51

$ -197 463.52

-197 463.52

-9,394,012.51

$

195911.21 $ -197 463.52 $

0.00 $ -375 850.00

$

179,656.76 $ 2,343,110.23 $ 2,514,867.82 $ -2,604,341.44

0.00

4 796 471.91

4,820,455.88

7;424,797.32

$

179 656.76 $ 7,139,582.14 $ 7,335,323.70 $ 4,820,455.88

27

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

EXHIBIT"!"

ASSETS Accounts Receivable

PROPERTY TAXES FOR
BOND DEBT

SPECIAL PURPOSE LOCAL OPTION.' SALES TAX

t -,
TOTALS .JUNE 30, 2000 JUNE 30, 1999

$

37.53 $

0.00 s-

37.53 $

397.14

LIABILITIES AND FUND EQUITY
1:
LIABILITIES
Cash Overdraft
FUND EQUITY

' '
-
$ -

37,53

Fund Balances Unreserved Undesignated

0.00 $

, ..

$

37.53 $

0.00

0.00

!otal Liabilities and Fund Equity

~-

37_53 $

-, . I ~ ~
--- .
. '

0.00 $

r . ~., i -~

,;\

' ' '

37.53 $
.,CI
' '-,
--

397.14 0.00
397.14

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

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

EXHIBIT"J"

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

PROPERTY TAXES FOR
BOND DEBT

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS YEAR ENDED JUNE 30, 2000 JUNE 30, 1999

$ 769.101.62 $
154 422.28
$ 923,523.90 $

808,984.13 $ 1,578,085.75 $ 1,748,416.20

148 423.37

302 845.65

120 841.43

957 407.50 $ 1880931.40 $ 1,869,257.63

$ 340,000.00 $
580,348.90 3175.00

$ 923,523.90 $

$

0.00 $

0.00

810,000.00 $
147,407.50

1,150,000.00 $
727,756.40 3175.00

1,090,000.00 773,876.43 5 381.20

957 407.50 $ 1,880,931.40 $ 1 869 257.63

0.00 $

0.00 $

0.00

0.00

0.00

0.00

FUND BALANCE JUNE 30

$

0.00 $

0.00 $

0.00 $ _ _ _=0.=0.0.

See notes to the general purpose financial statements.

- 29-

TIFT COUNlY BOARD OF EDUCATION . SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
"YEAR ENDED JUNE 30 2000

SCHEDULE "1"

FUNDING AGENCY . PROGRAM/GRANT

., .

CFDA NUMBER

PASSTHROUGH
ENTITY ID
NUMBER

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

Agriculture, U.S. Department of Child Nutrition Cluster . ~ass-Through FromGeorgia (?ep3itment of Education Food and Nutrition Program Food Services
- - School Breakfast Pi-ogram
National School Lunch Program

..
. 10.553
10.555

N/A

$ 354,413.01

(2)

N/A

1,223,326.80 $ 2,202,830.09 (3)

Total Child Nutrition Cluster

$ 1,577,739.81 $

2,202,830.09

Other Programs

Pass-ThroU9h From Georgia Department of Education

- Food and Nutrition Program

Food Distribution Program (1)

10.550

N/A

Pass-Through Fro'm Office of School R8~diness

Food c:!"d Nutrltion Prag.ram

Child and Adult Care Food Program

10.558

N/A

99,879.28

99,879.28

5,071.51

' J!r_ (2)

Total U;S. Department of Agriculture

$ 1,682,690.60 $

2,302,709.37

Education, U. S. Department of
Special Edu,cati'?n Cluster .
Pa~s-Through From Georgia Department of Education Individuals with Disabilities Education Act Part B - Special Education Capacity Building Improvement Flow Through Preschool

84.173 84.027 84.173

NIA

$ 18,539.39 $

NIA

509,233.99

NIA

78,352.43

18,539.39 509,233.99
78,352.43

Total Special Education Cluster

$ 606,125.81 $

606,125.81

Other Programs Pass-Through From Georgia Department of Education Elementary and Secondary Education Act Title I Grants to Local Educational Agencies Title It Eisenhower Professional Development Title Ill Technology Literacy Challenge Fund Grants Title VI Class Size Reduction Innovative Education Program Strategies Goals 2000 State and Local Education Systemic Improvement Grants Safe and Drug-Free Schools Stewart B. McKinney Homeless Assistance Act Education for Homeless Children and Youth Vocational Education Basic Grants to States High School Program Basic Grant

84.010 84.281 84.318 84.340 84.298
84.276 84.186 84.196
84.048

NIA

1,416,118.50

1,416,118.50

N/A

42,575.38

39,271.04

N/A

133,632.30

123,142.79

NIA

210,894.00

210,894.00

NIA

54,484.00

54,484.00

N/A

148,455.00

145,365.40

N/A

96,695.88

96,695.88

NIA

18,849.78

21,598.45 (3)

NIA

78,765.00

78,765.00

'"
-30

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

SCHEDULE "1"

FUNDING AGENCY PROGRAM/GRANT
Education, U. S. Department of Other Programs Pass-Through From Berrien County Board of Education d/b/a Southern Pine Migrant Education Agency Elementary and Secondary Education Act Title I Migrant Education
Total U. S. Department of Education
OTHER FEDERAL ASSISTANCE
Defense, U. S. Department of Direct Department of the Air Force R.O.T.C. Program

CFDA NUMBER

PASSTHROUGH
ENTITY ID
NUMBER

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

84.011

NIA

$ 207,910.37 $ _ _~20~7~,9~1~0-~37~

$ 3 014,506.02 $

3,000,371.24

$ 37,460.91 $

105,966.32 (3)

Total Federal Financial Assistance

s s_...;;;s... 4,734,657.53

4 .o9.._.D_4_s_.9_3

NIA= Not Available

Notes to the Schedule of Expenditures of Federal Awards

(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year.
(2) Expenditures for the Child and Adult Care Food Program and the School Breakfast Program were not maintained . separately and are Included in the 2000 National School Lunch Program.
(3} Expenditures for this program include State, and/or Other Funds. Expenditures are not maintained by fund source.

Major Programs are identified by an asterisk(*) in front of the CFOA number.

The Board did not provide Federal Assistance to any Subrecipient.

The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the Tift County Board of Education and is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the general purpose financial statements.

See notes to the general purpose financial statements.

- 31

TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30. 2000

SCHEDULE "2"

,,. ,: ,.1

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 TraiispOrtation

,:1,.:

Regular

Bus Replacement

Limited English Speaking

Middle School Incentive Program

Migrant Education

Special Instructional Assistance

In-School Suspension

Counselors Grades 4 and 5

Techflology Specialist.

~

Local Five Mill Share

Educational Equalization Funding Grant

Food Seivices

Vocational Education

Other State Programs',

Alternative Program

Apprenticeship Program

At-Risk Summer School Program

Environmental Scien~ Prog_ram

Health Insurance

lnnovativetPr99rams

MentOring PrOgram-., , .,

Mentor Teacher Pr0gla1Tl

.

National Tecicher Certification' Grants

Preschool Handicapped Program

Remedial Summer School Program

Special Education Low Incidence Grant

Teachers' Retirement

Year 2000 Project Funding

Lottery Programs

Assistive Technology

. Computers in the Classroom
Distance Leaming_ .

Human Resources, Georgia Department of Children's Trust Fund 2nd Step Grant

Office of School Readiness PreKindergarten Program

Office of Treasury and Fiscal Services Public School Employees Retirement

CONTRACT Education, Georgia Department of Reading Challenge Program

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

$ 16,704,833.00 3.260,859.00 . 877,952.00. 718,908.00 195.120.00 4,371,497.00

!t''
,~ -.

u' ,
$ 16.704,833.00 3,260.859.00 877,952.00 718,908.00 195,120.00
4,371,497.00

601,366.00

601,366.00

203.992.00 :

203,992.00

214,141,00

214,141.00

374,337.00 2,051.00

.. 374,337.00 2,051.00

674,630.00 139,193.00

! 674,630.00 139,193.00

71.337.00

71,337.00

86,527.00

, c 86,527.00

-3,745.266.00

''-3,745.266.00

1.833.573.00

1,833,573.00

$

193,656.00

193,656.00

631.553.82

631,553.82

''

115,248.00

115,248.00

35,000.00

35,000.00

27.702.69

27,702.69

750.00

750.00

423.251.33

423.251.33

.' .,
a

, 5,000.00 ,7,eoo.00. 3.402.00

' ' .-..,,, 1... ,
,..

'3,384.00

115.726.00 -

5,000.00 7.600.00 3,402.00 3,384.00 115,726.00

11:663.12

'11,663.12

30,000.00.

30.000.00

50,503.36

50.503.36

28,777.50

:, ~8,777.50

21.495.98 167,637.00
1,890.00

21.495.98 167.637.00
1,890.00

6.028.15

6,028.15

497.831.24

497.831.24

82,219.00

82,219.00

120.000.00

120,000.00

$ 28,282,858.97 $

882.510.22 $ 29, 165.369.19

See notes to the general purpose financial statements.
'<

-32-

' ... ~ '

TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS
YEAR ENDED JUNE 30. 2000

SCHEDULE "3"

PROJECT
The repayment of principal and interest on the School District Series 1995 Bonds maturing February 1, 1998 and thereafter, the acquisition, construction and equipping of an auditorium at the new high school; the completion of the new high school grounds and security; a new elementary school; improvements at J. T. Reddick School and Matt Wilson School; system-wide technology for all schools; and Annie Belle Clark School renovations for system-wide utilization, including the acquisition of all necessary property

ORIGINAL ESTIMATED
COST (1)

CURRENT ESTIMATED COSTS (2)

AMOUNT EXPENDED IN CURRENT
YEAR (3)

AMOUNT EXPENDED
IN PRIOR YEARS

$ 32,000,000.00 $ 32,000,000.00 $ 2,895,496.22 $ 9,752,511.14

(1) The Board's original cost estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax.
(2) The Board's current estimate of total cost for the project. Includes all cost from project inception to completion.
(3) The voters of Tift County approved the imposition of a 1% sales tax to fund the above project and to retire associated debt. Amounts expended for this project may include sales tax proceeds, state, local property taxes and/or other funds over the life of the project.

See notes to the general purpose financial statements.

-33-

.,
' "
.i".J

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

SCHEDULE "4"

Minimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis
Salaries Operations
Less: Expenditures for Media Center Programs in Excess of Total Media Allotment
Expenditures per Audit
Amount of Underexpenditure for Total Allotment

FOURTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

100% TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS

$

21,562,552.00 $

540,861.00

$

22,202,149.01

1,647,170.77 $

1,371,374.56

$

23,849,319.78

-408,689.20 $ _--=2"'3'--'.4--'-'40::.c,6c.::3:.::c0:=.5.:c.8

$

0.00 $=====0-=0=0

See notes to the general purpose financial statements. - 35

TIFT COUNTY BQARQ QF EDUCATION ANALYSIS QF MINIMUM EXPENQITLJRE REQUIREMENTS - BYPRQGRAM
, GENERAL FLJND -QUALITY BASIC EPUCATJQN PROGRAM$ YEAR ENDED JUNE 30 2000

GENERAL AND QAR!aER !aQUCATION PBO!aRAM

Kindergarten r)

Grades 1.~ 3 (*)

. -

<
- Sub-Total - K-3.

:.r. Grades 4 - 5 (*) :. .

Grades 6 8 (*)

Grades 9 - 12 (*) ! ;:- '
_ '. - ~i~- Sch??I Laborat0~es ~)

Vocational Education La_bo~atories,r~

Total General and Career Education Programs

SPECIAL !aDUQATION PROGRAM

Regular Programs Category II () Category Ill (*) Category IV (*)

Sub-Total - Regular

Category VI (Gifted) (")

Total Special Education Programs

REMEPIA!,, EPUC8TIQN PROGRAM (*l

Total Fourteen Weighted Programs .

MEDIA CENTER PROGRAMS

Salaries Operations

Total Media Center Programs

ALLOTMENTS FROM GEORGIA DEPARTMENT OF

REQUIRED

ORIGINAL

~

ORIGINAL

MID-TERM

$ 1,875,026.00

s 1,687,523.40 $

4,625.601.00

4,163,040.90

$ 6,500,627.00 90 $ 5,850,564.30 $

.2,127,690.00 90 3.458,219.00 90 2,346,804.00 90

1,~14,921.00 ' :J'
3,112,397.10
');"
2,112.123.eo

1,467,581.00 90

1,320,822.90

803,912.00
s 16,704,833.00
,, -1
i $ 2,952,400.00

90

723,520.80

s 15,034,349.70 $

'1

$ 2',657:1ao.oo s

0.00 0.00
C
0.00 0.00

$ 2,952,400.00 90 $ 2,657,160.00 $

0.00

308,459.00 90

277 613.10

$ 3,260,859.00

$ 2,934 773.10 $

0.00

$

877,952.00 90 $

790,156.80 $

0.00

$ 20,843,644.00

$ 18,759,279.60 $

0.00

$

588,922.87 90 $

530,030.58 $

0.00

129,985.13 100

129,985.13

$

718,908.00

$

660,015.71 $

0.00

Total Fourteen Weighted and Media Center Programs $ 21,562,552.00

$ 19,419,295.31 $

0.00

STAFF D!aV!aLQ~M!aNT PRO(,RAMS Cost of Instruction Professional Development
Total Staff Development Programs ()Identifies Fourteen Weighted Programs.

$

173,253.30

21,866.70

$

173,253.30 $

21,866.70

$

195,120.00 100 $

195,120.00 $

0.00 0.00
0.00

See notes to the general purpose financial statements.

r'.-4

. 36

SCHEDULE "5"

EDUCATION TOTAL
REQUIRED

ACTUAL EXPENDITURES

SALARIES

OPERATIONS

TOTAL

AMOUNT OF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

$ 1,687,523.40 $ 1,737,371.90 $

83,971.86 $ 1,821,343.76

4,163,040.90

4,697,478.19

288,434.54

4,985,912.73

$ 5,850,564.30 $ 6,434,850.09 $

372,406.40 $ 6,807,256.49 $

0.00

1,914,921.00

2,069,099.47

188,022.35

2,257,121.82

0.00

3,112,397.10

3,930,649.99

280,436.38

4,211,086.37

0.00

2,112,123.60

2,551,539.58

216,562.41

2,768,101.99

0.00

1,320,822.90

1,483,071.95

40,045.62

1,523,117.57

0.00

723,520.80

1,060,326.52

122,570.87

1,182,897.39

0.00

$ 15,034,349.70 $ 17,529,537.60 $ 1,220,044.03 $ 18,749,581.63

$ 2,657,160.00 $

1,245,763.61 $ 1,282,454.26
35,408.39

61,057.91 $ 40,477.61
894.69

1,306,821.52 1,322,931.87
36,303.08

$ 2,657,160.00 $

2,563,626.26 $

102,430.21 $ 2,666,056.47

0.00

277,613.10

487,138.30

9,710.04

496,848.34

0.00

$ 2,934,773.10 $

s 3,050,764.56

s 112,140.25

3,162,904.81

s

s 790,156.80

770,045.86 $

s 39,190.28

809,236.14

0.00

$ 18,759,279.60 $ 21,350,348.02 $ 1,371,374.56 $ 22,721,722.58

$

530,030.58 $

851,800.99

$

851,800.99

0.00

129,985.13

$

275,796.21

275,796.21

0.00

$

660,015.71 $

851,800.99 $

275,796.21 $ 1,127,597.20

s s $ 19,419,295.31

22,202,149.01 $ 1,847,170.77 $ 23,849,319.78

0.00

s

173,253.30

21,866.70

$ ===19;;;5;;,,1;,;2;;;0;,;.0~0

$

174,244.62 $

174,244.62

21,866.70

21,866.70

$

196,111.32 $

196,111.32 $=-====.,.;;O.;;,O;;;,O

37

,.,. -l,l' (; "',

~

.,.. , ,, ~" /

'~t ~

t}'i : .

.-/, -_' -~ ---. -- -
, ..

'1 ..J,
', ,:_;r, ~::;

., .
.'.1,
r '..:

SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS
J

)

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washingion S1reel, S.W.. Suite 214 Atlanta, Georgia 30334-8400
April 12, 2001

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Tift County Board of Education
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the financial statements of Tift County Board of Education as of and for the year ended June 30, 2000, and have issued our report thereon dated April 12, 2001. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.
Compliance
As part ofobtaining reasonable assurance about whether Tift County Board ofEducation's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions oflaws, regulations, contracts and_ grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results ofour tests disclosed no instances ofnoncompliance that are required to be reported under Government Auditing Standards.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered Tift County Board of Education's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. However, we noted a certain matter involving the internal control
2000YB-40

'i.'
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over financial reporting and its operation that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control over financial reporting that, in our judgment, could adversely affect Tift County Board of Education's ability to record, process, summarize and report financial data consistent with assertions of management in the financial statements. The reportable condition is described in the accompanying Schedule ofFindings and Questioned Costs as item FS-7371-00-01.
A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control that might be reportable conditions, and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, the reportable condition described above is considered to be a material weakness.
This report is intended solely for the information and use of management, members of the Tift County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties.
Respectfully submitted,
~ .. Oe_lJ:~
~Jsen W. Hinton State Auditor
RWH:gp. 2000YB-40

,f

1,

i.::::,

.

:..,.,

' ..

,,,

.. 1.'.

' ,,

,l

. '
r- :,

.,.
I
' .

RusSELL W. H1NTON
STATE AUDITOR
(404) 6562174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street. S.W., Suite 214 Atlanta. Georgia 30334-8400
April 12, 2001

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Tift County Board of Education
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE 1N ACCORDANCE WITH 0MB CIRCULARA-133
Ladies and Gentlemen:
Compliance
We have audited the compliance of Tift County Board of Education with the types of compliance requirements described.in the U.S. Office of Management and Budget (0MB) Circular A-133 Compliance Supplement that are applicable to each of its major Federal programs for the year ended June 30, 2000. Tift County Board of Education's major Federal programs are identified in the accompanying Schedule of Findings and Questioned Costs. Compliance with the requirements of Jaws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility ofTift County Board of Education's management. Our responsibility is to express an opinion on Tift County Board of Education's compliance based on our audit.
We conducted our audit ofcompliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and 0MB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. Those standards and 0MB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major Federal program occurred. An audit includes examining, on a test basis, evidence about the Tift County Board of Education's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on Tift County Board of Education's compliance with those requirements.
2000SA-10

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In our opinion, the Tift County Board of Education complied, in all material respects, with the requirements referred to above that are applicable to each of its major Federal programs for the year ended June 30, 2000.
Internal Control Over Compliance
The management ofTift County Board ofEducation is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts and grants applicable to Federal programs. In planning and performing our audit, we considered Tift County Board ofEducation's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with 0MB Circular A-133.
Our consideration ofthe internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a condition in which the design or operation ofone or more ofthe internal control components does not reduce to a relatively low level of risk that noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in relation to a major Federal program being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses.
This report is intended solely for the information and use of management, members of the Tift County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties.
Respectfully submitted,

RWH:gp 2000SA-10

State Auditor

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

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TIFT COUNTY BOARD OF EDUCATION AUDITEE'S RESPONSE
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2000

PRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS

FINDING CONTROL NUMBER AND STATUS

FS-7371-98-02 FS-73 71-99-0 I

Further Action Not Warranted Umesolved - See Corrective Action/Responses

CORRECTIVE ACTION/RESPONSES

GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number: FS-7371-99-01

The Tift County Board of Education acknowledges this finding; however, due to staffing and budget limitations the Board is unable to establish controls and procedures to maintain a General Fixed Assets Account Group.

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SECTION IV FINDINGS AND QUESTIONED COSTS
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TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED JUNE 30, 2000
I SUMMARY OF AUDITOR'S RESULTS
I. Type of Report Issued on the Financial Statements The auditor's opinion on the Tift County Board of Education's financial statements was qualified for various departures from generally accepted accounting principles.
2. Reportable Conditions in Internal Control Disclosed by the Audii of the Financial Statements The audit report for the Tift County Board of Education disclosed a financial statement reportable condition related to the following control category.
General Fixed Assets
The reportable condition described above is considered to be a material weakness.
3. Noncompliance Material to the Financial Statements The audit of the Tift County Board of Education disclosed no instances of noncompliance that were deemed to be material to the financial statements.
4. Reportable Conditions in Internal Control Over Major Programs The audit report for the Tift County Board of Education did not disclose any reportable conditions in internal control over major programs.
5. Type of Report Issued on Compliance for Major Programs The auditor's opinion on the Tift County Board of Education's report on compliance with requirements applicable to major programs was unqualified.
6. Audit Findings Required to be Reported by Section .51 O(a) of 0MB Circular A-133 The Tift County Board of Education's audit did not disclose audit findings required to be reported by section .510(a) ofOMB Circular A-133.
7. Major Programs Federal awards audited as major programs are as follows: I0.553 Food and Nutrition Program - Food Services - School Breakfast Program I0.555 Food and Nutrition Program - Food Services - National School Lunch Program 84.010 Elementary and Secondary Education Act - Title I- Grants to Local Educational Agencies
8. Type "A" Program Dollar Threshold The dollar threshold for type "A" programs was $300,000.00.
9. Low Risk Auditee The Tift County Board of Education did not qualify as a low risk auditee as defined by Section .530 ofOMB Circular A-133.
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:~., TIFT COUNTY BOARD OF EDUCATION . SCHEDULE.OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED JUNE 30, 2000

II FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS

GENERAL FIXED ASSETS

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Failure to Maintain' General Fixed Assets'Account Group

Reportable Condition - Material Weakness ;_

Repeated From Prior Year

Finding Control Number: F.S-7371-_00-01 a
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The Tift County Board ofEducatiori did riot maintain a systein:wide General Fixed Assets Account

Group within the formal accounting records as required by generally accepted accounting principles.

This condition results in the general purpose financial statements ofthe Board being incomplete and

not in accordance with generally accepted accounting principles. Appropriate action should be taken
by the Board fo establish accounting controls and procedures to provide for maintenance ofa General

Fixed Assets Account Group. These subsidiary records should include an inventory of land,

buildings and equipment owned by the Board and should include;but may not be-limited to, date

acquired, acquisition cost, estimatedreplacement cost, location and description. Detailed records

should be maintained for au:additions and deletions to the General Fixed Assets Account Group.

Management's Resp,,onse: '.

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The Tift County Board ofEducation acknowledges this finding; however, due to staffing and budget limitations the Board is unable to establish controls. and procedures to maintain a General Fixed

Assets Account Group.

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III FEDERAL AWARD FINDINGS AND QUESTIONED COSTS

No matters were reported.

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