TIJRNER COUNTY BOARD OF EDUCATION : TABLE OF tONTENTS- ',, L. ' l' ' ' SECTION I FINANCIAL INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS EXHIBITS GENERAL PURPOSE FINANCIAL STATEMENTS COMBINED STATEMENTS - OVERVIEW A COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUP 2 B COMBINED STATEMENT OF REVENUES, EXPENDITURES AND : CHANGES IN FUND BALANCES i ALL GOVERNMENTAL FUND TYPES 4 C COMBINED STATEMENT OF REVENUES, EXPENDITURES AND 1 CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS 7 D STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND 8 E STATEMENT OF CASH FLOWS .. . . FIDUCIARY FUND TYPE -NONEXPENDABLE TRUST FUND; 11rn NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS ,, ADDITTONAL FINANCIAL INFORMATION. COMBINING STATEMENTS SPECIAL REVENUE FUND G COMBINING BALANCE SHEET 22 H COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 24 SCHEDULES , l ARriI' , - ' ~ AW ,i SCHEDULE OFEXPENDITUREiroF FEDERAL '> , ', / .. .J~6 ' '", ,2 SCHEDULEOFSTATEREVENUE., . -,, . , _,,.,_,. 28 > , 1:' . ,' r _ - . . ., , '. ., ~ . . . . . . . - ' , I .'_ 3- , ;8CHEDULE'OF5:APPROVED LOCAL OPTION SALES TAX PROJECTS~ ' '/ ' '.les. _,These..variances,are described as ~~: . I ~:-' :..~- .,, - ~:t::, ~J.:_t,~.): l..~.,. 2000ARL-13A ' * The general purpose financial statements of the Board did not contain a Gerieral Fixed Assets Account Group to account for property and equipment owned by; the Board which should be included to conform to generally accepted accounting principles. * School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted ~ccounting principles, these accounts should be included in the general purpose financial statements. * The Board did not recognize as expenditures, in the year ended June 30, 2000, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 2000. Also funds received, subsequent to June 30, 2000, from the Georgia Department of Education for the State's share of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1999, were improperly recorded in the year ended June 30, 2000. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material. In our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements referred to above present fairly, in all material respects, the financial position ofthe Turner County Board ofEducation as of June 30, 2000, and the results of its operations and the cash flows of its nonexpendable trust fund for the year then ended, in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated Aprii 19, 2001, on our consideration ofthe Turner County Board ofEducation's internal control over financial reporting and our tests of its compliance with certain prov:isions 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 Turner. County Board of Education taken .as. a whole. The accompanying combining statements (Exhibits G and H) and the financial schedules (Schedules 1 through 5), which : ..... as includes the Schedule ofExpenditures ofFederarAwards required by U..S. Office ofManagement; ; :'. '; . and Budget Circular A-133,Audits ofStates, Local Govei-nments:andNonP,:ofit Organizations, are : ::,. presented for purposes of additional analysis and are not a required part of the:general purpose.:,_':." , financial.statements. Sui:h information has been subjected to the auditing proceduresapplied in the .:fc/,1:!,. . . audit.of,the. general,pllfP,ose:,finl!flcial statements and .in.ouropi!].ion?.c:xcept fo'r.~e. effects .of,the':;.C/1;,; .-, ',-: ' 1,1. - -',~.i-':'~,."~-~ ,,.- .'"'"",.. -,.-si:;_-:::_,: 2000ARL-13A .-,:, I , i t matters referred to.in the third paragraph, such information i~ fairly stated, in all m~terial respects, in relation to the general purpose financial statements taken as a whole. [ A copy ofthis report has been filed as a permanent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code ofGeorgia Annotated Section 506-24. Respectfully submitted, , RWH:gp 2000ARL-13A ~~Hi~a4}_ State Auditor. . f. ,fI i I I I t i TIJRNER COUNTY BOARD OF EDUCATION TURNER COUNTY BOARD OF E~UCATION. COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 2000 ASSETS Cash and Cash Equivalents Investments Accounts Receivable Inventories Food Donated Commodities Purchased Food Amount Available in Debt Service Fund Amount to be Provided in Future Years For Payment of Bond Debt GENERAL FUND GOVERNMENTAL FUND TYPES . SPECIAL CAPITAL REVENUE PROJECTS FUND FUND $ 487,023.35 $ 104,152.58 $ 471,614.47 92,358.78 211,588.80 9,744.17 4,208.05 Total Assets $ 579,382.13 $ 329,693.60 $ _ _.4.._71..6._1_4_.4_7 LIABILITIES AND FUND EQUITY . LIABILITIES Accounts Payable Salaries Payable Expired Grant Balances Payable General Obligation Bonds Payable $ 5,866.74 $ 52,155.50 179,884.82 2.184.08 .Total Liabilities 5866.74 $ 234,224.40 .-' FUND EQUITY Funci sMarices Reserved . For Bus Replacement Funds $ 138,891.00 For Continuation of Federal Programs $ 7,062.69 For Debt Service For Endowment Corpus For Inventories Food Donated Commodities. . . 9,744.17 Purchased Food . . .. . ;For.Purpose ofBond Issue ;: ,..,4,208.05 C , . ,., "' ''.$ . \,: ' ' -,"' , .471,614.4~ }Un~s~rved.o.,:,::,ta_:, ..-. , .. Undesignated ' ' .:..:',:,.," : -.' ; .. . . . . , .. ' ' --f~~~~lt~~-::t\fo:}.'~_.(( '. -,,~i:4,~t.~;~~~\~~[~(;~~~~~1~4;[~i~J~;;),j1~~~;1;~ . Total Liabilities and Fund Equity \ '. ' ";$ .... 579;382.13 $ . "329;693.60. '$ ' ; 471614:47' ... The notes to the general purpose financial statements are an integral part of this statement. -2- EXHIBIT "A" DEBT SERVICE FUND FIDUCIARY FUND TYPE NON EXPENDABLE TRUST FUND ACCOUNT GROUP GENERAL LONG-TERM DEBT TOTALS {Memorandum Onl~l JUNE 30, 2000 JUNE 30, 1999 $ 281,642.60 $ 1,344,433.00 $ 1,722,592.03 $ 25,000.00 25,000.00 25,000.00 136,352.35 1,451.71 441,751.64 : 347,173.18 : $ 417,994.95 1,897,005.05 9,744.17 4,208.05 417,994.95 1,897,005.05 7,184.65 4,700.23 438,274.90 2,626,725.10 $ 417 994.95 $ 26 451.71 $ 2,315,000.00 $ 4,140,136.86 $ 5,171,650.09 $ 58,022.24 $ 41,547.36 179,884.82 : 164,915.02 2,184.08 $ 2,315,000.00 2,315,000.00 3,065,000.00 $ 2,315,000.00 $ 2,555,091.14 $ 3,271,462.38 $ 417,994.95 $ 25,000.00 0.00 $ '417 994.95 $ _ _ _.26.,;,.4-"'5'-'1"':7-"-1 $ 138,891.00 $ 61,271.00 7,062.69 20,617.61 417,994.95 438,274.90 25,000.00 I 25,000.00 9,744.17 4,208.05 . 471 ;614:47 510.530:39: . 1,585,045.72. $ 7,184.65 : .. 4,700.23. . . ", 'i 732;327.21 . ,. ( ' 'i'',_.,,. , 610 812.11 . 1 '.1,900,187.71 $ 417 994.95 $ 26451.71 $ 2,315;000.00 $ . I -3- TURNER COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30. 2000 REVENUES State Funds Federal Funds Taxes 1 , Other Funds Total Revenues :",~:' ' .' ' , ... ,.$ I .i ., $ GENERAL ..FUND . SPECIAL. .REVENUE FUND ' 8.735.017.36 $ , 1.987.813.80 240 187.76 484.804.00 1.796. 142.04 75 328.90 10 963 018.92 $ 2,356,274.94 EXPENDITURES Current .~ Instruction Support Services Pupil Services . .. . lmpro\lement ~of lnStructional services Educational Media Services General Administration 'School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Operations Capital Outlay Debt Se.rYiCe Principai , .. " . , . <-- ' , . : ..~, I' Interest . .' Paying Agent' Fees ' .. '. . ' ~ .. . . ,.:,:. :,: '.,.T~tal:.Expendi/ures:.:.,.:.:. :. .. Excess of Revenues over (under) Expenditures . - ... ,;,_, -~\~~.,-~~ ..t'", $ 7.483.408.54 $ 527.191.82 ---- - 526,022.77 198,814.78 248,718.90 687,239.89 79.425.56 595,226.85 369,605.11 7,001.12 120.723.80 883.79 23,202.79 1.405.256.76 138.014.05 22;504.83 54,881.28 23.175.55 4.134.75 1,956.25 41,915.22 775,748.05 $ : .10,867.465.72..$ . 2.467,586.74 $ 95,553.20 $ _ _.;;.,1..:.t1'-'3"-1'-'1"'.8"'0'-- OTHE{R FINANCING SOURCES (USES) Op~iati~g Transfers 'in ;. ; _~ , ,I ' 1 Operating Transfers Out _;~ -~;-.~:.':. Total Other Fi~ain-;;ing Sources (Uses) $ $ ---=8c..1o.:0=,55"".1"'5'-- ~ . " . $ 87055.15 $ 66.692.15 66692.15 Excess of Revenues and Other Financing Sources over-,(under).ExpenditureS and Other Financing Uses .... , ,1 :... . , . ,-. ' l J . . . . . .. . .. . FUND 's11LANCE JULY .1',:,.,;1~, ":'- F,;oldiwenia'ry Net C~ai,g,; in'Peri~ ~: ... : . Donated Commodities< .. .. J .I'"P,_u;,r.c; !ia's~oo",F ood-~_: .., ',.'r-:",.'.-'-,o.:.. : ;f. .,:.. ,.. .. _ ,,, .~ :, .:i:):. . -~ , ,,; ' . , - .' .'1?,,-,....-. ':>"( : ;}:._\,~~-~-~~;?:-~:. - .F.l.lNDsAL'.ANcE JUNE 3o' ..' . . .,. .. ,. ., ,"..~. , :-.,,.. ..,,....-:,.y;'~,.,.:,.:.:... .. ,;. ~ '.i ,.:,._ ''. ~- 'l ~\;~;' s{ $ 8.498.05 $ -44,619.65 .56,' 5.;017. .34 .. ' .138;0~1.51 : .. ' ~ _,,.i-L:.-.. >',. .., ..:tss9:s2 V: : .J~: ,, .'.'.492. 18.. The notes to the general purpose financial statements are an integral part of this statement. , C .4. EXHIBIT"B" CAPITAL PROJECTS FUND DEBT SERVICE FUND TOTALS (Memorandum Only) YEAR ENDED JUNE 30, 2000 JUNE 30. 1999 $ 9,219,821.36 $ 8,970,497.92 1,796,142.04 1,869,723.79 $ 836,152.12 2,823,965.92 2,613,951.34 $ 14 783.81 5 824.03 336 124.50 228 038.87 $ 14 783.81 $ 841 976.15 $ 14 176 053.82 $ 13,682,211.92 $ 8,888,665.30 $ 8,521,556.56 $ 275,496.55 $ 750,000.00 132,077.50 541.60 665,205.87 548,527.60 198,814.78 303,600.18 710,415.44 79,425.56 599,361.60 371,561.36 7,001.12 162,639.02 776,631.84 23,202.79 275,496.55 750,000.00 132,077.50 . 541.60 617,364.33 545,187.07 196,522.82 282,788.79 717,098.02 38,904.65 651,091.78 364,393.36 7,162.80 133,685.80 749,639.60 20,495.66 351,314.31 650,000.00 160,615.00 529.10 $ 275 496.55 $ $ -260 712.74 $ 882 619.10 $ -40 642.95 $ 14.493;168.11 $ -317 114.29 $ 14,008,349,65 : -326 137.73 $ 20,363.00 $ 87,055.15 $ 4,747.08 -87 055.15 -4 747.08 $ 20 363.00 $ 0.00 $ 0.00 $ -260,712.74 $ 732,327.21 -~0.279.95 $ 438,274.90 -317,11_4.29 $ 1,873;640.96 :326, 137. 73 .2,202,922.60 .2,559.52 -3,377,70: :/ ;' . ' .. ,. . t/ -492.18' 233.79 . '-;;. ">-.1 - . .... ., ..., -, - . ~ .' 1- .. . . .,.; ~ .;. :' ' :- ';' -~ -~-. -.,,- ~;:~~_.,'.;:\,:~~(~~-:. i. . ..,:-~~..:::.._:.,...\st u .. ., ; $ 471 614.47 $. 417 994.9s' $ -1 558'594.01 $ 1,873,640.96 -5- -- -.. .. '. -, ,;. ..,: , .. .. , . <.:-~':'-,- ~] _:- . . :,:' t / /Jiil:;t/\' I_ TURNER COUNTY BOARD OF EDUCATION .j . . ', . COMBINED STATEMENTOF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL {NON-GAAP 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 $ 8,281,480.00 $ 8,735,017.36 1,512,250.00 28 000.00 1,987,813.80 240 187.76 $ 9 821 730.00 $ 10,963,018.92 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 Community Services Operations Total Expenditures Excess of Revenues over (under) Expenditures $ 7,279,147.00 $ 7,483,408.54 414,703.00 515,185.00 196,805.00 228,916.00 723,623.00 84,217.00 382,754.00 421,863.00 7,001.00 22,200.00 527,191.82 526,022.TT 198,814.78 248,718.90 687,239.89 79,425.56 595,226.85 369,605.11 7,001.12 120,723.80 883.79 23,202.79 $ 10,276,414.00 $ 10,867,465.72 $ -454 684.00 $ _ _9e,5,:,5oe5::<3,,e20e.. OTHER FINANCING SOURCES {USES) Other Sources Other Uses S Total Other Financing Sources (Uses) $ s '-63,523.48 -87 o5s. is -83 523.48 $ -87 055.15 Excess of Revenu8s and Other Financing Sources over (under) Expenditures and Other Financing Uses $ FUND BALANCE JULY 1 1999 -518,207.48 $ 535,426.83 8,498.05 565,017.34 Adjustments Food Inventory - Net Change in Period Donated Commodities Purct:iased Food ~ ' SPECIAL REVENUE FUND ACTUAL (BUD.GET BUDGET BASIS) $ 55,000.00 $ 484,804.00 1,493,684.52 1,796,142.04 69 500.00 75,328.90 $ 1618184.52 $ 2,356,274.94 $ 865,654.00 $ 1,405,256.76 24,569.00 4,000.00 138,014.05 22,504.83 56,504.00 54,881.28 23,175.55 4,134.75 1,956.25 30,481.00 745,167.00 41,915.22 775,748.05 $ 1 726 375.00 $ 2,467,586.74 $ -108190.48 $ -111 311.80 $ -63:523.48 $ . 66,692.15": $ 63,523.48 $ 66 692.15 $ -44,667.00 $ -44,619.65 134,303.05 138,021.51 594.08 2,559.52 -492.18 . J'. FUND BALANCE JUNE 30 2000. -,; . ,. $ .... ' 17219.35 $, 573;515.39. ,:,,,, $ .. . 901230.13 ~ ---"95a..4aa6aa9;;:.2aaOa. . The notes to the general purpose financial statements are an integral p~rt of this statement 7. ,, TURNER COUNTY BOARDOF'EDUCATION EXHIBIT "D" STATEMENT OF.REVENUES. EXPENSES AND GHANGES IN FUND.BAlANCES FIDUCIARY FUND TYPE- N0NEXPENDABLE TRUST FUND YEAR ENDED JUNE,30. 2000 bR. AND MRS. WOODROW GOSS SCHOLARSHIP FUND TOTALS (Memorandum Onl~) YEAR ENDED JUNE 30, 2000 JUNE 30 1999 .OPERATING REVENUES None Recorded c OPERATING EXPENSES n $ .. 0.00 $ 0.00 $ 0.00 Current Scholarships $ 1 782.54 $ 1 782,54 $ 1 500.00 Operating Income (Loss) $ -1,782,54 $ -1,782.54 $ -1,500.00 NONOPERATING REVENUES Interest Earned Net Income FUND BALANCE JULY 1 1 687.50 1 687.50 1 687,50 $ -95.04 $ - -95,04 $ 187.50 26 546.75 26 546.75 26,359.25 FUND BALANCE JUNE 30 ._t:_: .: $ 26 451.71 $ 26 451.71 $ 26 546,75 ' . i '' :, ,; ,":,. , ,.. ,., ... , 1- .........~ The notes to the general purpose financial statements are an integral part of this statement. -8- TURNER COUNTY BOARD OF EDUCATION . STATEMENT OF CASH FLOWS FIDUCIARY FUND TYPE NONEXPENDABLE TRUST FUND YEAR ENDED JUNE 30, 2000 t ' . EXHIBIT"E" Cash Flows from Operating Activities: Cash Paid for Scholarships Cash Flows from Investing Activities: . Interest Received on Investments Net Increase (Decrease) in Cash Cash and Cash Equivalents July 1 Cash and Cash Equivalents June 30 DR.AND MRS. WOODROW GOSS SCHOLARSHIP FUND TOTALS (Memorandum Onl~) YEAR ENDED JUNE 30, 2000 JUNE 30, 1999 $ 1 782.54 $ -1 782.54 $ 1 500.00 $ 332.88 $ 332.88 $ 1 687.50 $ -1 449.66 $ 1 449.66 $ 187.50 $ 1 449.66 $ 1 449.66 $ 1 262.16 $ 0.00 $ 0.00 $===1=-4=4=9=.6=6 .,. .. . ' . ~,. \.:.~:., ,\:~;:. },,-~_';1,;_)f\:{; './,:,.'."?,. :~ ."-~'"- ~-\-... , .;,- .,. ~ '. .~. _--,-~ .. ~; ~ - :>,~ . ". . - ~,_ , ..-... '<'"/ :{~f/- The notes to the general purpose financial statements are an integral part of this statement. . 9. TURNER COUNTY BOARD OF EDUCATION . EXHIBIT ''F" NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30. 2000 Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES REPORTING ENTITY The Turner County Board of Education (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the Board is a primary government and consists of all the organizations that compose iis legal entity. FUND ACCOUNTING The Board uses funds and an account group to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not. recorded in the funds because they do not directly affect expendable available financial resources. General Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity,j1or therevenues;expenditures and changesiri fund balances ofthese .. ., accounts are reflected in these financial'statem:ents: Tc{c~~fohn i~ ge~eraliy acceptecfacc6iirittn'g . principles, these accounts should be recorded in the general purpose financial statements. The general purpose financial statements account for all State, Federal, Taxes and Other funds under control of the Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: GOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's educational activities. .G.overnmental-FuncrT,._ y.pe.s-inc'lude:.. :.: ".,, ,.,;_-::~ , " ~ . _ . .. ~ . .. .~-- ,-,~~:' <,_'; __ :__.:,,'_.";'.-:..,:. ~ - -__ 1._: __," ___ .,._~ L_.,__..,.... _'\:. r._ GENERALFUND /the fund u~ed to account for all fimindalresources,oftheBoaid exi:epfahose.: .,; ,' :_: .. i ,. : requiredt\)'be accounted for in another fund, These~ransa_ctions relate to resources o~iaic1ii;,_ci and ' :; i.::.i:itif(~:'--~~::y\:;;(;_:,t~, . . ..,:: :._:..,used-~~~ ~erv\:et~I~~_\~~t~Y.~t:rd~f~:1~~1~'.:1!t'/;/:;;: .--~-,_ ;-;~;'.:)\:_:);_ - 11- . '. TURNER COUNTYBOARD OF EDUCATION EXHIBIT "F" , NOTES'TO TI:IE GENERAL PURPOSE FINANCIAL STATEMENTS - JUNE 30; 2000 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SPECIAL REVENUE FUND - the fund used to account for the proc_eeds _of sp_ecific revenue sources (other than for major capital projects) that are legally restricted to expenditures for ' specified -purposes. These.fonds are received ,primarily from the Geo,rgia; Department of Edi.Icatiori'and from the Federal govemment,to accomplish spec.iii~ educational ojJj~ctives. . ~,, ~. l : ,:i . , t , .,... CAPITAL PROJECTS FUND O the furid used to account for financial resources to be used for the -_~acquisition or construction of major capital facilities. , . i, ', DEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees .. _--- FIDUCIARY FUND 'FYPE-- the.fund used to account for assets held by a gov~rrwient,unit in a trustee capacity or as an agent for individuals;private organizations, other go~eTT1ffie!11!Jnit~_and/or_ other'funds. This fund includes:".:_ -;-r ,r '.:, ::.: ,r ;_; -, .. ,.-, .. , . t: NONEXPENDABLETRUSTFUND , ' J ' ) -i . ~,. Dr. and Mrs. Woodrow Goss Scholarship Fund - the-fund used to account fo_r an endoW!11ent ofwhich the corpus is to be invested and preserved intact with the resultant income to be used to provide scholarship aid to graduating seniors of the Turner County School System. - ACCOUNT GROUP ' . ) ' GENERAL LONG-TERM DEBT ACCOUNT GROUP -A financial reporting device used to account for general obligation debt outstanding. - , ., . , J BASIS-OF-'ACCOUNTING, -,.\. '~ .. The accounting and financial reporting tr\!atment appliedto a fund is determined by its measurement focus. All governmental funds are accounted for:usiriga current.financial resources me'asureinenf focus. .With this measurement focus; only current assets and current liabilities generally are included oh 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 spendab_le.n,sources are reported as liabilities inthe.g9yemmentalfunds. Other:lial>il\ties, which 1!1:e not_expected tojb_e'ti,n.~cec(fron:i :; , - avai_lable , .:-~.~.-t" - ~pen;dl;lble resources,:are --~-,.-~:t:/\>:)::{?~::~: _:._;'.,::.: -., :i_;e,/p-:o:r.t}e(d._1:;~r,n}~t/j,l~e:;'~__G?0e;~p:.~e):r>a~lt:-),:!?;;o:._r:ig_7-T~-~-.~-:~-n:~p:\D}:e1~b;tA\'_,~c;;lrll!/l/(;qi~rc.biu:

(:, -,. All nonexpendable trust funds ar<;_ accounte~-.fpr,C>n:aflow:.pf,1,co110'1!1c,resogrc~s:we~ui:ement . ,,: _ w;~? ' foc~s,:-~!t~thjs,Ille"asur<,n:ie11t focii~'.all~~~~t~1aiif1;Ii~l>ilities_;:15s~~iat!!/twi~:th~.?,!'!Afifipf:~~s~ ,funds are included on the . a,ec'r'ea- s":es (Fe';g:,,~,:e~x p,e::n: se1s' )b;ai'n.l1ann~,ect.e-t.so,ht,a,e.]e:;at,.s,~sOetps.~e.,r;:'!.a.~~t':;m!,1~-1g-~~:_~sc:,:t:!,a..::-~ /..;; ,..,,,,, ~/""./', ~... ::. 'I' -. ~- ' ,_. ,. ,. ' > - 12 - TURNER COUNTYBOARD OF EDUCATION i NOTES TO THE GENERALPURPOSE FINANCIAL STATEMENTS JUNE 30, 2000 ' EXHIBIT "F" Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 period beginning in late August 1999 and ending in early June 2000. Personnel ~ontracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1999 and ending in August 2000. State grants to fund the State's share of these contracts were disbursed from the Georgia Department ofEducation to the Board iii the same twelve months. As ofJune 30, 2000, compensation under these employment contracts had been earned, but two ofthe twelve monthly payments, due for July and August 2000, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 2000. Also, the State's portion of the compensation paid in July and August 2000 was received and recorded as revenue in the fiscal year subsequent to June 30, 2000. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1999, were recorded in the year ended June 30, 2000. Generally accepted accounting principles require that are revenues' be recorded when available and measurable and that expenditures ,b~ recorded when . incurred, rather than when funds received or disbursed. . . -. . The accrual basis of accounting, as required by generally accepted accounting principles, is utilized by nonexpendable trust funds. Under the accrual basis of accounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. BUDGET The Turner County Board of Education's budget is a complete financial plan for the Board's fiscal year and is .based upon estimates of expenditures together with proba61e funding sources. There is . no statutory prohioition regarding overexpendi!fe of ilie budget.at any,'level.- The budgetfor an. is governmental funds prepared by fund, function and object. TheJegai level ofbudget control was . established by th.eBoard at the aggregate level. )"he JmdgeHor governmental-funds was prepared oi:i a.basisotherthangenerallyacceptedaccountingprinciples, .,.: . ., t, _'. , .. ',, ::.. ':-' .' ::,;,'._\, ._: ;..:;- , .\.,,,i), ,:.::::~;~.(<'. '. ., . . <_\~\ '.')i ,:~~.f{, 1 .; ::, ;;,, .'', -13 - . TTJRNER COBNfY,BbARD OF.EDUCATION EXHIBIT "F" 'NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 2000 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: The budget process begins when the Board's administration prepares a tentative.budget.for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at a least once in newspaper of general circulation in the locality. At the next regular.meeting of the " Board after advertisement, the Board receivescomments 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 fisc.al year.-end. CASH AND CASH EQUIVAI..:ENTS ' - , 1,,. I., ~,I, .. .:.. COMPOSIT,IQN. OF DEPOSITS . ~ r; .- 1 '.' ;', Cash and cash equivalents consist of deposits in authorized financial institutions. Georgia Laws OCGAAS-8-14 authorize the Board to deposit its funds in one or more sol.vent banks, insured ..,,Federal savings and loan associations, or insured State chartered building and Joan associations. -1 '- ' '; (.;j' 1 _ '.. ' i. , -j '.' .l , I . .. ' i'l., INVESTMENTS Jl 1 l . t' <,/., COMPOSITION OF INVESTMENTS .Investments made by the Board in nonparticipating interest-earning contracts (such as certificates of . i deposit) and repurchase agreements are reported at cost. Participating interestseaming contracts and money market investments with a maturity at purchase ofone year or Jess 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., Th~ Official Code ofGeorgia Annotated , ,Section 36-83-4 authorizes the Board to-invest itsfunds. In selecting among options for investment ;or among institutional bids.for deposits, the higliest.rateofreturil;shalLbe,the objective,,given . : eqtiiv~Jent conditions cif safety and liquidity. Funds may be invested in the following: . _" . : C , . -~,''(-I)" :Obligatiorilr1ssiied oy,the'State ofGeorgiao{6'y'ilffierstiites; ,.,.,.., , : , '.. J (2) Obligations issued by the United States government, v ' ./ ,1: , (3) Obligations fully insured or guaranteed by the United States government or a United States government agency, ,. (4) Obligations ofany,corpo~tion,oftheUniied:States goveriunent,: .-, : Jt;,_ i;' ::; ,;;;i,f . :(~) :P~ni~ ~~er'~--~~c~~tahde~;''.. , ::~;), i:,: ../:~~- ;'~':/: .'_ . '.:. /'t':;'; C> ,.. :,::.:_'."' _' . . ' ' .~--(~"'.- \._~'.~_ .. :;:. f' ,) : ~; ',-: ...:;.:'.\C~->:l::~J~---:~~:.'~>:H.'_'..~; ,;.-:_.. ,,;- '._,;< '\\;;pr~:.:f{f !~t,~:'.tfti,~:;1;,~~f . > , :'. : .(~) :T~e.LocaLGove~e11t:liive,stipent~~?l;,dJttm/~t~r~d:byJhc::~tatfofG~o.rgia,;0ffice of; "~,'( .r -. -' rer.~0:'~~: ~ii~~~'~ff ~'.;~1(];~~-:~i;;tJ\: l:I{{ '\\\,,_. :',/;;,:::}:~}:;{~t;: (7) Repurchase agreements, and -I--14- TURNER COUNTYBOARD OF EDUCATioN. . ,: EXHD;:llT;'F': NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30,2000 ,l; Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (8) Obligations of other political subdivisions of the State of Georgia. RECEIVABLES Receivables consist of grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. PROPERTY TAXES The Turner County Board of Commissioners fixed the property tax levy for the 1999 tax year (calendar year) on September 15, 1999 (levy date). Taxes were due on December 20, 1999. The lien date for property taxes was January I, 1999. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 2000. The Turner County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the Board. ' The tax millage rate levied for the 1999 tax year (calendar year) for the Turner County Board of Education was as follows (a mill equals $1 per thousand dollars ofassessed value): ;. School Operations 12.5 mills SALES TAXES ;, :;, .~/. >-_- ~:_ .:_;:_ _'.;./,,--:.: :\.,.;i~~l:\ _.; .,;\_~-~-~,:_.,~;;.,; .:_~- . ~::: -: ->-~::;_;.:_-_: ./,::; - : -~./. -'>'" /' :~\?_:~~. :":.-; .. ~'.~:;.:;{:,~i../)":~)-7:< , Special Purpose LocalOption'Sales Tax is to He used for capital outlay for educational purposes and . .. debt service. Special Purpose Local Option Sales Tax revenue during the fiscal year amounted to $836, 1-52:12 andwas recorded in the,DebtServiceFuha:'::ni.e State,willterminate collection ofthis} ;.., , tax once an additional$2,151,488.55 has been collected - o~ on June 30, 2002, which: ever occurs ' first. INVENTORIES FOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the . Combined Balance Sheet at theirFedeiallyassigneoSalue. Purchased foods iriventoriesare report&i,. : .. are ., .. .'. orl'the Combined Balant:_(!:Sheetat:c:ost:(firsi'-in;firstcout): ,poria,ted:foci'iJ cin1119~itiesare r:ecorded'Jt;; . f ,:. - ...' . as.reveriuesand e. xpend.iture. s atihe,-O' .m~ e' co. m.m.c'id. it'y;,_iienis ' rec.eivec!::'''.P. urc, has' ed,. .:foo. d.s,. inve. nto' ries f .... ' ,_ . : ., ,-ar~ rec;cir~ed as;expenditures:atthe tirne ofp\lrchase:''}fhe i1;iyenton,es rep_orte4'onithe balanc;e sheet; .-- ;-: , > . .... i :.\for donated foodicorririioditiesiaridfi>i-;purchased foodsfare1equally offiet:by;reservatiorisfof:fund, ;.,:,"; . . .\' _' . '.. ''.::,{J,a!~~~}Vhiciliin'd/catei:tllat\tfi~s'fa:itl!Jfiltt(~ii ~6t'~o'n~!itute,'~ii:;~ilafil~:i~~hdabltrtiJgim~~,eyehtf(;0\ ; <,.. t_., ( ,:tthOUgh,tb.ey..,:are~;a."co~Ponellr:Ot:'Det:~WT~fit._asS~t~::: ~:_.-;;:/? ~~-Jt::;_/:;~ r~_(',lz~;~r_::\:~~??i:.1~- .:;:e;.:_/\_~;:_\(~f _r~;:~,;?~it"~~~: .-. - 15 - ;. ,TIJRNER: COBNTY BOARD oF EE>BcA'PioN' c, ,_., N- OTES TO THE GENERAL PURPOSE FINANCIACSTATEMENTS ,-:..,''.-'J .U. NE-30,~200-0 EXHIBIT "F". Note 1: SUMMARY OR SIGNIFIGANT ACCOUNTING POLICIES GENERAL OBL~Q.A'fION I;JQN~S '"; ~- 1 I, ,, , I The Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond premiums and discounts, as well as issuance costs, are.recognized in the financial statements, during the,year bonds are issued. General obligation bonds are direct ' . ' , "-' , . , ' ' . . . ' , ' , .. , , ' - , I.'" , ,. , ;_. ,' .._ .,.obligations.and pledge the.full faith and credit of the.government, The outstanding amount ofthese I , . , r '. . ,' ' ' I , I I,/ . ; . ' - 1,, expei:i~iture.s/~_xVinses__il},tpe that is;eimbursed: ' ...j. : I \. .: _/ ' ~. .. i:. : , _,, ; ,, ., ; ~ " _, :. ; ~c 1 1 r : , ,~,;. ..-. -L.4 .,, , -- .- : , ,, , - -. ... r ._-. .,., -1 Operating trans[ers iii:; 1 recorded for all interfund tran~actions otlier, ihanreimbursementi. . . ,, . . , - , ; , -- . , . U ' , ..,,..,,_.., ,. . ' ' , ,,_,_ : , , , . 1..; _;, '/ ,. ,.,1_1 i,.... ~ .. . c,._ , . ,. -: .. ;., -.--: r il-,.,.. :::., .~: .,. .,_ ; : :,. , ~~~ ::i\;.-, ,T - :'"" ;f ~:: ., ., t 1 Total columns on the general pumose financial statements.ar.e,captiqned _'!Jy1,emorandum Only" to indicate that they are- pre'sented-only io facilitate financial analysis.- Data in these columns do not present financial position, results ofoperations or cash flows in conformity with g~nerally accepted ~ . ( -. ' ~ , I.,. ' . accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations havi: not been made in the aggregati_on of this data. . .,1 , ~-..... . . ,.' .;..,_,Note 2: I>'Ei>osrrs ... ,,:; --~'.r,:: :-., '_j'"" ' ..'.> .., ... ;;-tt -.'.,:: ,:.i.. .J ... ~1~' ...-,J;jf/';,~.1~, /Ii ."1;;, :r;., :1f . . -.-t;,,'.._,'.1 r''" _., ,.,1.:r,,,-fJf.1,).r~.!flf'..-,.:.,,_ ._, +,1:: , , ,, : ''"-' :, , ;,. , . '" ",',;,/;C-OL. L,_Ai_,T_,ERAkIZ .. <,.,.;,'J''A,-T-,I:O,-N,,.:,.O.'.,F,i)-i'eEP;_.,0.,S, J:tT,S,,,;,;,.'..'.',.. :,._,. .:,;,,,):,,'I.;. c,., ,; ;;:;, .~ ;, _:::.. i -'i ,,,,,.. -' . / , .. . (?ff).c]~LC9de_ofGe~rgia At_u}otated,(OS9A) Sect\on ;l_5~8-12 pro'?d:s that.there s11annot 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. The aggregate qfthe face value of such surety bond and the market value of securities pledged shall be ecjuai 'to not 'Jess than 11 Opercent ofthe public funds being secured after the deduction ofthe amount ofdeposit ins1c1rance. . I{a depository.elects,thepooled method (OCGA 45-8c13.1) the aggregate oftlie market value:ofthe 11 , . ; , , ,. . I . " ' ( , , f: ' ,. ~.. ' l :., . ; , - I , , , ' > > f .' " I ,s_ecurities pledged.to se"ur~ a pqol ofpub\ic fu\}ds shall,be no(less .th~ p'.piercent.of~h.c; c!ai,lypool -, .,balance. OGGAS~c'iio"ii'45:s-,11 (b)pro~id;s.an cifficirholding pubiic funds inay;in'liis discretion; i ' ,.-~~'\"~''~;,w/">-'0'0 _,";,.,;t)~- -..4"'1:)' ,, -~~-.~.. -,~ ' o ~ t . , , ,, ,,,,,t,f,~ , , ; , , , . , " 't,'!" , . . . ..waive the requirement for security in.the case ofoperating funds"placed iri demariddeposit checking . . . _ .,,;,/tcc:~ts:-:,I~;:j:~;i;it~ii;~~t~if:ii,~r;;s~:i}i~ii(ii1\:;:r~{i{i1\::::i!:f:iii:~:i;::Ii;;Jti:~!,~i0:i,;.:.,;:: ):_ ,:.. ., .~; ,Acceptable:secuiit'y'fot:deposits;consists:of;any.orie',ofor,;anyi,combiriatiol):'of.tlie:foll&"'.iiig:,;:."'~~c':J\;:.:,,:,,:;: 'f;'/}/:c;ti3{ii'.riJ~:{lfl/~:~tl~\~i~Jfgfi~1~)~t:~i~~\;, :~~~{f~W'f?t~Si1ti1i,fi~!t~itii:ii~i11i!:o/~i~?{ftii~;r;ti - '," l- -16 - TURNER COUNTY BOARD OF EDUCATION '.:!;' ;; EXHIBIT "F". NOTES TO THE GENERAL PURPOSE FINANCIAL,STATEMENTS. JUNE 30, 2000 Note 2: DEPOSITS (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, (4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia, (5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, (6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and (7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. CATEGORIZATION OF DEPOSITS The AtJune 30, 2000, the bank balances were $2,267,682.36.. amo~ts ofthetcitibank 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 tne 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 Jun~. 30, 2000,:as:'f. e>llows. : :. , -.::,. - . - ',' "! : -17 - TURNER COUNTY BOARD OF EDUCATION -- EXHIBIT "F" . . NOTES TO THE GENERAL PURPOSE FINANCIAD STATEMENTS . JUNE 30, 2000 Note 2: DEPOSITS Risk Category , 1 I 2 3 Total Bank Balance $ 200,000.00 ... 1,779,743.09 287,939.27 .$ 2,267,682.36 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; job1 related illness or injuries to employees; natural disaster and ,; unemployment compensation. The Board has obtained commercial insurance for risk ofloss associated with torts, assets, errors or omissions and job related illness or injuries to employees:.. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years. . ' ... ,,, ._f,.1_~,~- __.__ , -The .Board ,has elected. to self-insure fot alUosses related ;to,natural.disaster: The-Board has not experie~ced any losses related to this risk in the past three year~. - .. . - . .. . . ' . -The Boardis self-insured with'regard to imemploymeritconipemiationclaims.. The Board accounts for claims.within the General Fund with expenditure and liability being reported when it is probable that a Joss has occurred, and the amount' of that Joss can be reasonably estimat~d. - : Changes in the unemployment compensation claims liability during the last two fiscal years are as follows: ' ! Beginning .. ofYear, Liability .Claims and Changes ip .. , Estimates \ -18- TURNER COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE30. 2000 Note 4: RISK MANAGEMENT The Board has purchased surety bonds to provide additional insurance coverage:as follows: Position Covered Amount Superintendent Each Principal $ , 10,000.00 $ 6,000.00 Note 5: GENERAL LONG-TERM DEBT GENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are as follows: Purpose General Government - Series 1997 Interest Rates 3.90%- 4.70% Amount $ 2,315.000 00 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 $ 3,065,000.00 De d u. c t i , o-,n, s .. . Debt Retired Balance June 30, 2000 . ., . 750,000.00 $ 2 3I5,000.00 At June 30, 2000, payments due by fiscal year whic~ includes principai and interest for these items are as follows: Fiscal Year Ended June 30 General :Obligation . .Bonds . ' $: ~' _..,. 9i3,'J40'.oo. . ., . ;959,100.00. . ., . . . ,. ' 1:i'":'6J410()()0 . .: .:;( _~':~~-~ 1"~:~~-;:~-~-': .'-;~.i~~~~:~t.~~~~~.{-t~,~~:~k, ~(:~\:::.. : .., . '. .,., ;,,' '$:2~486:940,00, ,: ,,; ' '.,... ' ; ' ' ' - 19 - TURNER COUNTY BOARD OF EDUCATION NOTES TO THE GENERALPURPOSEFINANCIAL STATEMENTS . JUNE 30. 2000 EXHIBIT "F" Note 6: ON-BEHALF PAYMENTS The Board has recognized revenues and, expenditures in the amount of.$149,993.67 for health insurance and retirement contributions paid on the Board's behalf by the following State Agencies. Georgia Department of Education i ' Paid to the Georgia Department of Community Health For Health Insurance of Non-Certified Personnel In the amount of$128,068.67 Office of Treasury and Fiscal Setvices Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost In the amount of$21,925.00 Note 7: CONTINGENT LIABILITIES Amounts received or receivable principally from the Federal government are subject to audit and ,review by graritor agencies. -This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. The Board is a defendant in various legal proceedings pertaining to matters incidental to the performance_ of routine Board operations. The ultimate disposition of these proceedings is not presently determinable, but is not believed to be material to the general purpose financial statements. No1e 8: RETIREMENT PLANS :, ' TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) TRS'PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems .are covered,by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disabilit)'retirement and survivors benefits for _its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. ; , TRS CONTRIBUTIONS.REQUIREDAND,MADE: ' . . . . :' :- - '. by . Employees of the Board ~h~-are' covered )>y TRS are required State stattite:to contribute 5% of ,, '. their ,gross . ea!"!}ings !Cl J'RS. - The Board mak~s monthlyemployer contributions .to TRS at.rat.es ,: _, . .an\! . . ' , ':,a~0Rt~4 -~x,t~ct!,~S.j,1;39ip-djc.'lfff~~te~s :i_I,1,;APt1aric~;to/ith ~!Jl!e statll,te as ,_adxi~eci.,?y)~eir~';(: \ . ; md~pendentactuacy:. Tile regu1r~d:Cl1IlpJoyer_co11tnbut1Cln'rl,lte 1sl l29'l(oan!;temployer contnbutions .;.:::'",:; ,,:i:_,,, .. ..,.. '~ !:-f-o",r..t.h",e),,,c[,u : r i e n t . f i sc", a l ' y~e-a_r-..',a,,nd.-'{t'lji,e-\p, re.~c- e..d..mg, .tw"-o,., , ' ~.fi.s..,~_.acl: ; _y~e,~a-r-s.a,'rea s,,fo llo,w_ s:,.;_:..,,.,. -,, .. ,_. 1.,,-. ~ ,.,,_.~'-.1 . .":,.,,...,;;:,.- as_c,,.;, _::,,,~: . ' - 20- . ' TURNER COUNTY.BOARD OF EDUCATION NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 2000 EXHIBIT "F" Note 8: RETIREMENT PLANS Fiscal Year 2000 1999 1998 Percentage Contributed 100% 100% 100% Required Contribution $ 971,421.06 $ 969,408.36 $ 885, I 59.58 ! ., '' .... . ... ' '' ,,.: .......-' - - ..;. '~ . a:;-::-. -{'"' .. ' - ~ . -..~ . . '! " . - , f'1".:,'"~ ,_,._, r . l , - 21 - ruRNER cduNTY BOARD OF EDUCATION ,COMBINING BALANCE SHEET , ' . _ SPECIA~ REVENUE FUND JUNE 30, 2000 ASSETS Cash and Cash Equivalents Accounts Receivable Inventories Food Donated Commodities Purchased Food scHOOL FOOD SERVICES FUND LOTTERY PROGRAMS $ 110,891.28 $ 51,226.46 3,917.93 9,744.17 4 208.05 Total Assets $ 128 761.43 $ ==.,;5,:,:1aE2.:,2~6,;;;;46~ 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 Inventories Food Donated Commodities Purchased Food Unreserved Undesignated .. , .. Total Fund_ Equity, . : ' , - ,J $ 8,675.04 $ 12,608.68 31,679.88 38,617.78 $ 40 354.92 $ ---'=51=2=26."46- $ 9,744.17 4,208.05 74 454.29 $ - - ~ - -.::0"'.0"-0 88406:51' '$.'-'--''--='o:"oo- See notes to the general purpose financial statements. ''--22 EXHIBIT "G" FEDERAL PROGRAMS TOTALS JUNE 30, 2000 JUNE 30. 1999 $ 162,117.74 $ 189,167.54 $ 207,670.87 211,588.80 173,573.26 9,744.17 4 208.05 7,184.65 4 700.23 $ 207 670.87 $ 387 658.76 $ ===37;,,;4~6;;;2,;:,5-;,;;;68= $ 57,965.16 $ 57,965.16 $ 30,640.30 30,871.78 52,155.50 41,048.85 109,587.16 179,884.82 164,915.02 2 184.08 2 184.08 $ 200 608.18 $ 292, 189.56 $ 235 604.17 ~j' I - - ', - r $ 7,062.69 $ 7,062.69 $ 20,617.61 9,744.17 4,208.05 0.00 -' --....:7.4:=45=4."29- 7,184.65 4,700.23 105 519.02 ; ., . ., \j''; ' '. . : '{ -23- ,,,,/ TURNER COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES SPECIAL REVENUE FUND YEAR ENDED JUNE 30 2000 REVENUES State Funds Federal Funds . Other Funds Total Revenues EXPENDITURES Current Instruction Support Services Pupil Services Improvement of Instructional Services General Administration School Administration Maintenance and Operation_ of Plant Student Transportation Services Other Support Services Food Services Operation Total Expenditures Excess of Revenues over (under) Expenditures OTHER FINANCING .SOURCES Operating Transfers In ' . '.-s'. ...,. : ~. -: ., Excess of Revenues and Other Financing Sources over (under) Expenditures FUND BALANCE JULY 1 Food Inventory - Net Change in Period Donated Commodities Purchased Food ,, ; FUND BALANCE.JUNE 30. -> :- -'1. "< ";,. T -"!' - ---- SCHOOL FOOD SERVIC,ES I",' FUND ;LOTTERY PROGRAMS $ 56,574.00. $ ,, '. r. 428,230.00 612,780.42 75 328.90 744 683.32 $ _ _...:.42"'8~2""3"'0"'.o"'"o 350,856.91 65,618.00 3,798.26 359.21 $ _ _.,_77'-'5""7'--'4"'8"'.0"-5 4,134.75 1,913.19 2,029.20 775 748.05 _$ __---342"'8,.,_7,_,0"'9"'.5~2 $ .-31,064.73 _$_ -479.52 $ -31,064.73 $ 117,403.90 479.52 0.00 0.00 2,559.52 --- _ -492.18 . See notes to the general purpose financial statements. I.. -24- .\'1 EXl:IIBIT"H", FEDERAL PROGRAMS TOTALS YEAR ENDED JUNE 30, 2000 JUNE 30, 1999 $ 484,804.00 $ 436,427.43 $ 1,183,361.62 . 1,796,142.04 1,795,676.66 75 328.90 74 417.86 $ 1183361.62 $ 2.356,274:94 $ 2,306,521.95 $ $ ... .. $ '.,,, 1,054,399.85 $ 72,396.05 18,706.57 54,522.07 23,175.55 43.06 39,886.02 1,405,256.76 $ 138,014.05 22,504.83 54,881.28 23,175.55 4,134.75 1,956.25 41,915.22 775 748.05 1,235,334.36 135,462.45 45,747.08 75,924.21 7,861.52 7,438.74 52,463.10 749 639.60 1 263 129.17 $ -79,767.55 $ .:..: .. ' 2 467 586.74 $ -111,311.80 $. . i 2,309,871.06 -3,349.11 .~,;,,,,. "' 66 212.63 66692.15 4 747.08 ., . " ~ ;::, . l' " --~.-. $ -13,554.92 $ -44,619.65 $ 1,397.97 20,617.61 138,021.51 139,767.45. .. 2,559,52 "-492.18 -3,377.70 ~ '233.79 ~-,~i..-" j:-, '.~- .. .:) " ,, ~:, <,''d't,:. .:3. . :..~: , ., $ ,7<062.69 :$ i;,, : ' ;95,459_20 .S.: ' ' 138 021,51. ' .;\{{~jt?ji\:Jf:'.i~i~J1;1:1t1}~~1]:i;i?f:$}{:ef~{"t{~:iff . -25 - ' ,',, TURNER COUNTY BOARD .OF-EDUCATION , . ... SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED JUNE 30. 2000 :SCHEDULE "1"' FUNDING AGENCY PROGRAM/GRANT Agriculture, U. S. Department of Child NUtrition Cluster Pass-Through From Georgia Department of Education Food and Nutrition Program Food Services SchoolBreakfast Program National School Lunch Program Total Child Nutrition Cluster CFDA NUMBER " 'i - PASS- THROUGH ENTITY ID , NUMBER FEDERAL REVENUE IN PERIOD EXPENDITURES IN PERIOD -- .~ :., .... ,, '-ol.--;~- _,.,.. . ' 1 ..;: :-, :.. t +j --~ i~ 10.553 10,555 ' ' ' .-NIA ..-~.$ "NtA, 144,183,70 412,251.65 $ (2) 737 429,06 (3) _:$_ 556,435,35__ $ - - _!}7,429_,06 Other Programs .. i n "' C Pass-Through From Georgia Department of Educati0n Food and Nutrition Program Food Distribution Program (1) 10.550 N/A Pass-Through From Office of School Readiness Food arid Nutrition Program Child and Adult Care Food Program ; 10,558 38,318,99 38,318,99 18,026.08 q_...:.-,..:c,.,-_.12.,l_-=.- Total U. S, Department of Agriculture Education, U. S. Department of I'. q, Special Education Cluster ' :.. 1\ ~- ~ .., \ Pass-Through From Georgia Department of Education Individuals with Disabilities Education Act Part B - Special Education .:...1.. '. J, Capacity Building Improvement Grant Flow Through Preschool _$ 612.780.42 $ -,------'7'-'-7"'5"'74cs8cs.0,,_5 ,:<'". ~.,.' ,-r ,-..::. fj' ., ' ' ?!' -~:' 'NIA - $ !'NiA ~., .!; NIA,:. \'i.,:-.:,. ~:~~~1,t.\ 4,180.00 s 4, 180,00 129.805,67 ._, - ''. 129.852.03 26,049.92 26 076,58 .Total Special Education Cluster ~, 160.035,59 .. $ :60.108.61 _.. ____ _,_ ~-- .... -~ Other Programs . Pass-Through From Georgia Department of Educatiofl . ""' .f' - Elementary.and Secondcl!Y_EducatiOn Act ii.-...:. ":Title I .,, ,, ./,: Grants to Local Educational Agencies 84.010 NIA Title II . , .- .. . :Eise_nhOW~r.~fe~sio~al_D,y~l!lP1!18n_t ... A :f:7.~---~~-84.281_,,._.-~_:-:+f!-_N/A Title Ill ' . ~. Technology Literacy Challenge Fund ~rants 84.318 NIA Title VI i'J.\g:-: Innovative Education Program Strategies 84.298 Class Size Reduction ; . ~ ~;"7" c, &,4.340 Safe and Drug-Free Schools ,. ' , 84.186 7, N/A: NIA 1 r,ihf .P:i Vocational Education - Basic Grants to States High School Program Basic <;,rant ..: ..\ ; :::... 84.048 :, : Nff-. ,:';,' 686.014,17 21.084,00 76,073.00 7.832.00;. 43 382,00 . i 686.041.79 (3) 14,577.74 ., 21,084,00 76,073,00 7,832.00 43 382.00 'Total u._ ~,Dp~rtm~nt of Educauc,ii i:,:' /::'-' '::;, .-_ a )t.{y_,,.~_}~_,_-,; ,$: 1,010:683.76'.: $ ; -~ 1,024,:166.30 ,_ . Health arld Human5e~ices,.U,"8'. 0ePlrtmen_t Of::' ,J ._ ,' <~ ,;.: + :.. ) " ' ,, Pass-Through-Froin Geoi-Qia Oeipariinerit 0(HuITl"an;., -> " , . .it; .: '._'. ).. ~eso_~~s '. -:-.,1'. .; ::;i.~'.. :-,: ~!-:.:: '.~-, :-~~Jf,.;"-:,, :,?.;{:~\'EiY :.:,: ,'.-,'.~~f ;-:(ji.~1t.{~il; ;.'.{;/, -;,? .-.'\.(~~.~t}~ :5~ ~: . \ .-/ -~~- ...-:. c~, \ f. /?: -;1i~~'.."'.~i: :~il:~~!.:J~i.~~~~t!~~~~f~~~t'.:,~~{/~1~~~~~i~~;gi;:\~9.i'~~~:;,;i!rj&~~~~;!;~~i'.:~!f \"' ' rif~~~~~~~J~:~~:~:i~'.~~~'.~~~~~\~~~i~f,~ .... ,_. -i,:Absltnence:Educalion,,..(,h.,.,;.,-; "" , ; ..- . ; .., .1 ,, ~ ...i ;:~ t:":.93.235;.~~. /' -;,NI~\' ~-ii'::$'.: ;.:127,000,00,.,.,$,~~-;a;,t.-.::127,000.00 ,. ., . :;:( ,),-t '1: Total U.S. Department of Health and Human Services $ 137,868.oo $ _ _1,.,3,_.7,,,86,e8cs,o,,_o : 'TURNER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF. FEDERAL AWARDS YEARENDED JUNE 30 2000 CFDA NUMBER PASS THROUGH "ENTITY ID NUMBER FEDERAL REVENUE IN PERIOD : l ,," .~1'., .: ,._ .,.,_.'.,:" ' ' .. SCHEDULE '.',1". 'f, I i :J''1 ' :EXPENDITURES IN PERIOD OTHER FINANCIAL ASSISTANCE Defense, U. S. Department of Direct Department of the Army RO.T.C. Program $ 34 809.86 $ 100 994.87 (3) Total Federal Financial Assistance $ 1796142.04 $_I__2.,,0a;3a,8,a,8;;.7.7,.aa2a.2 N/A = Not Available Notes to the Schedule of Expendiiures of Federal Awards (1) The amounts shown for the Food Distribution Program represents the Federally assigned value of n0nmoneitary assistance for donated commodities received and/or consumed by the system duririg the curreni fiscal year. ' (2) Expenditures for the Child and Adult Care Food Program and the School Breakfast Program were not maint'ained separately and are included in the 2000 National School.Lunch Program. ; (3) Expenditures for this program include State, and/or Other Funds. Expenditures are not maintained by fund source. Major Programs are identified by an asterisk (*) in front of the CFDA number. The Board did not provide Federal Assistance to any Subrecipient. The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the Turner 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. 'i See notes to the general purpose financial statemen~: -27- v "' '. -- .,~-:,~..- ... >, . ,, ' ,. ' ., ' '. ' " ..., ;TURNERCOUNTY.BOARD'OF'EDUCATION ' :scHEDULEOFSTATE'REVENUE ,,, . "YEAR ENDED JUNE 30. 2000 .,,. l SCHE[)ULE "2''; - ~- i.1 r ~:. t_ .. AGENCY/FUNDING ... ,~r-. i ,' ; , ,,..,. GOVERNMENTAL FUND TYPES SPECIAL GE_NERAL REVENUE .,~_ _..c,F,eU.c,Ne,Dc___ FUND TOTAL GRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs $ 4,640,112.00 : i :.:r;, .. , .J .,:, -~ J ,..,, $ 4,640,112.00 Special Education Programs ., ReDl~c;hal f=9u~atiqri Program 1,003,203.00 148,523.00 V .. , tc-d .003,203.oo .. J 148,523.00 Media Center Programs 196,063.00 196,063.00 Staff Development Programs 51,510.00 51,510.00 Indirect Cost 'PupiLTransPoit8ti6n '.? 1,253,875.00 1,253,875.00 11:- '-: ~ ~ _. - '<> !_~ \ ., Regular 234,621.00 234,621.00 Bus Replacement 77,622.00 -~ .. ,,. 77,622.00 Middle School Incentive Program 146,804.00 146,804.00 Special Instructional Assistance' ., ' "' ,' .1217,889.00 _.... 217,889.00 ln,School Suspension 73,308.00 73,308.00 CoUnS81ors Grades ifarid 5 '" - .. ..:, ,19,565.00-': -~' :: '" 19,565.00 Technology Specialists ..... , . ,,,,. . ' <' '""1 ... 57;685.00 . . Local Five Mill Share ... ' " . ".,., ,730,634.00 ; ' .. . < ' r. , .57,685.00 .. .-' .. -'730,634:oo Educational Equalization Formula Food Services Vocational Education ,l ,, 4 ,. 560,388:oo 560,3ss.oo v'l.:,'.:_ . .: $ .'"; 155;574_00 :, .' 56,574.00 73,o,ffoli , ...,... , n,041.00 Other State Programs Alternative Program Apprenticeship Program At,Risk Summer School Program : -'"-1s1;594:oo :.. ;,1~:~~:~i. ';. ,r . .151;59.\:00 2,000.00 ., ''12,554,19 Health Insurance , .1 ,; a:. Innovative Progranis _, , 1 .... : Preschool Handicapped Program Remedial Summer School Program . 128,068.67. . , ., 5,000.00 29,134.00 J . 3,164.10 128,068.67 . ' '5,000.00 29,134.00 3,164.10 Lottery Programs Assistive Technology 11,320.03 11,320.03 Computers in the Classroom 53,000.00 s:i.000.00 '. ,GeorgiaDepartment of Community Affairs,., .. Governor'sEmergency Funds (1) . '': . -" ' ':. 10;006:00 ,:fo,000:00 .Georgia Department of Human Resources ' Family Connection Program ' . " , so.000.00 50,000.00 Office of School Readiness Pre-Kindergarten Program 363,909.97 363,909.97 Office of Treasury and Fiscal Services Public School Employees Retirement 21,925.00 21,925.00 CONTRACTS '<. , ,._14s,s24:oo . .. . J52 368.40,\::{.;; See not~s to the general purpbsB financial statements. ..,,.. ... ,; ' TURNER COUNTY BOARD OF EDUCATION .,, ~C,HEDUL;;t,. SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PRO~ECTS : . YEAR ENDED JUNE 30, 2000 PROJECT Retiring the remaining $390,000.00in outstanding principal amount of the School District's series 1988 general obligation school bonds on_ the earliest possible redemption date, at a maximum cost of $410,690.00 Providing funds to pay the cost of acquiring any necessary real or personal property and equipment, acquiring technology and . computer equipment and addinQ to, renovating, repairing, improving and equipping existing educational buildings, properties and facilities of the School District, including, but not limited to Turner County Middle/High School, Turner County K-5 Elementary School and Ashburn Elementary School and paying expenses incident thereto ORIGINAL ESTIMATED COST (1) CURRENT ESTIMATED COST (2) 1 'AMOUNf. EXPENDED IN CURRENT YEAR (3)!4) ' AMOUNT EXPENDED IN PRIOR YEARS $ 4,275,690.00 $ 4,279,234.20 $ 275 496.55 $ 3,108,399.26 (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 each project. Includes all cost from project inceptio~ to completion.. (3) The.votersof.Turner County approved the imposition.of a 1% sales tax toJund.the above.projects, . . Amounts expended for these projects. may i~cludesales tax,proceeds, stateiloc~ieproperty ': ;.. ' taxes and/or other funds over the life of the projects. (4) In addition to the expenditures shown above, the Board has incurred interest to provide advance funding for the above projects as follows: -~ ' ' v .: Prior Years Current Year $ 304,752.50 132,077.50 Total $ 436,830.00 See notes to the general purpose financial statements. I - 29 - ' ~.'.: .1'., I .., r . . TURNER 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 Expenditures per Audit FOURTEEN WEIGHTED AND MEDIA CENTER PROGRAMS 100% TEST FOR . OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS $ 5,987,901.00 $ 183,356.00 $ 6,338,683.97 245,078.02 $ $ 6 583,761.99 207,142.74 Amount of Underexpenditure for Total Allotment . $ o.oo s=======o=.o=o See notes to the general purpose financial statements. 31 . .') ">, . ' TURNER COUNTY BOARD OF EDUCATION - . ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS BY PROGRAM GENERAL FUND QUALITY BASIC EDUCATION PROGRAMS . YEAR ENDED JUNE 30 2000 GENERAL AND CAREER EDUCATION PROGRAMS r- , Grades 3 (") Sub-Total K-3 . . Grades 4 5 (") Grades 6 - 8 (*) Grades 9 12 (") n Higb_ School ~aboratori~s Vocational Education Laboratori,l'.!s () Total General and Career Education Programs SPECIAL EDUCATION PROGRAMS Regular Programs Category II (') Category Ill ("). Category IV (') Sub--Total - Regular Category VI (Gifted)(') Total Special Education Programs REMEDIAL EDUCATION PROGRAM {'l Total Fou"rteen Weighted Programs , MEDIA CENTER PROGRAMS Salaries Operations "' ' ~ '"' ' ' Total Media Center Programs ALLOTMENTS FROM GEORGIA DEPARTMENT OF ORIGINAL ..JL REQUIRED ORIGINAL MID-TERM $ 451,735.00 $ 406,561.50 $ 1,290,936.00 1,161,842.40 $ 1,742,671.00 90 $ 1,568,403.90 $ ss1,soo.oo 90 524,520.00 . 971,942.00 90 874,747.80 446,909.00 90 402,218.10 410,145.00 90 369,130.50 485,645.00 90 437,080.50 $ 4,640,112.00 $ 4,176,100.80 $ 0.00 0.00 . '' 0.00 $ 795,162.00 $ 715,645.80 $ 0.00 $ 795,162.00 90 $ 715,645.80 $ 0.00 208,041.00 90 187,236.90 $ 1,003,203.00 $ 902,882.70 $ 0.00 $ 148,523.00 90 $ 133,670.70 $ 0.00 $ 5,791,838.00 $ 5,212,654.20 $ 0.00 $ 158,839.00 90 $ 142,955.10 $ 0.00 37 224.00 100 37,224.00 $ 196,063.00 $ 180,179.10 $ 0.00 Total Fourteen Weighted and Media Center Programs $ 5,987,901.00 $ 5,392,833.30 $=====0=.00a, STAFF DEVELOPMENT PROGRAMS Cost of Instruction Professionat.DevelopmElnt 16,717.00 34 793.00 16,7,17,00 $ ;34,793.00 . o.oo o:oo :rota! staff De~tDPmBnt Programs; :- ~ :'n~ '. :<:., ,C ,. :f Identifies < 1. ,.": .,FOUrteen W.'"e"'i-g'hte-d~. r /':. ". Prggrams., .:l,- . : :, . ; -,-, , . ~ See l"lotes to the general purpose financial statements. .( ' ... -~. 32 . SCHEDULE "5" EDUCATION TOTAL REQUIRED ACTUAL EXPENDITURES SALARIES OPERATIONS TOTAL AMOUNT OF UNDEREXPENDITURE FOR REQUIRED ALLOTMENT $ 406,561.50 $ 1,161,842.40 $ 1,568,403.90 $ 524,520.00 874,747.80 402,218.10 369,130.50 437,080.50 $ 4,176,100.80 $ 421,638.06 $ 1,235,169.25 1,656,807.31 $ 614,348.03 963,096.47 391,500.70 627,261.55 588,265.80 4,841,279.86 $ 12,763.52 $ 39,167.05 51,930.57, $ 28,348.84 30,393.50 27.482.06 13,776.96 39,021.97 190,953.90 $ 434,401.58 1,274,336.30 1,708,737.88 $ 842,696.87 993,489.97 418,982.76 841,038.51 627,287.77 5,032,233.76 0.00 I 0.00 0.00 0.00 0.00 0.00 $ 715,645.80 $ 310,723.06 $ 404,456.04 48,096.21 6,414.02 $ 6,458.72 128.44 317,137.08 410,914.76 48,224.65 $ 715,645.80 $ 763,275.31 $ 13,001.18 $ 776,276.49 0.00 187,236.90 241,445.64 3,187.66 244,633.30 0.00 $ 902,882.70 $ 1,004,720.95 $ 16,188.84 $ 1,020,909.79 $ 133,670.70 $ 339,899.05 $ 339,899.05 0.00 $ 5,212,654.20 $ 6,185,899.86 $ 207 142.74 $ 6,393,042.60 ' ., ,, , ""., : /I ,,,,, $ 142,955.10 $ 152,784.11 $ 152,784.11 0.00 37,224.00 $ 37,935.28 37,935.28 0.00 $ 180,179.10 $ 152,784.11 $ 37,935.28 $ 190,719.39 $ 5,392,833.30 $ 6,338,683.97 $ 245,078.02 $ 6,583,761.99 $ 0.00 ,rn.111.00 34,793.00 $ 40,378.10 $ , .. , 4o;J1a'.io 11"650.50 11,650.50 ., 33 SECTIONil COMPLIANCE AND INTERNAL CONTROL REPORTS ,.' .- _.,._ _f:t\{,li~:!il RUSSELL W. HtNTON STATE AUDITOR (404) 6562174 ~-o ~-........ . 11'll>. DEPARTMENT OF AUDITS AND ACCOUNTS: . 254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 April 19, 2001 Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education and Superintendent and Members of the Turner 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 ofTurner County Board ofEducation as ofand for the year ended June 30, 2000, and have issued our report thereon dated April 19, 200L This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards apP.licable to financial audits contained in .Government Auditing Standards, issued by the .. Comptroller General oqhe;United.State&, ;. . - ' , /_.,;. .- . .k,- .:-: , . Compliance I- ~~ C O As part of obtaining reasonable assurance about whether Turner County Board of Education's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of!aws, 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 AuditingStandards.. . . 0lnt~~al G~~irn;-.o~~r;;~a:~;~l'.~~~~in~' ." ; .. :,i . -,,:;- . :.::~ ' ,_::.;{j,;;;_';. :< .,:".. ':;:.';-\', , s:i r'.':, i: ;'! ., , . ---~---_ ..:. : :~.- .:_'"":-~ ~~_.. ,:' _._,' .. -.~;:' -_.,.,.__._-: :,: ,._:~--_'_.'.~:-. .'~. __ --~,:;-,__ ..-____:.,. :_---/ .:>.: . Iri planning and perfo,1111-ing_our ~udit;--:econsidered Turner'CountyBoard.ofE~ucation's internal''.\ . , ,;;:,:c~'.: . . conti'oJ:over .financial reporting in ordef.to;determine:oui auditini procedures :for~tlie .piiipose of:, ~ i_'. . ' .. ~~pr~'~singoU:r opinio'ii,:on the'finan~ial'staternents arid not -toprovide assuraiice,On:the;internal_,~ 2000YB-40A control over financial reporting. However, we noted a certain matter involving th~internal control over financial reporting and its operation that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control over financial reporting that, in ourjudgment, could adversely affect Turner 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-7421-00-0 I. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control that might be reportable conditions, and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, the reportable condition described above is considered to be a material weakness. This report is intended solely for the information and use of management, members of the Turner 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 2000YB-40A State Auditor it~1::/'. ._:.;:--i .: ',:;':,;pinion. Our.audit does not proide,a:<;' _-.: . . ... -. _. . . . - ' ; ,;"4 .. -~- . . . , , " " . . ' '~---~ .. _.,., . . . ' -~- .t:;~I}i;,:~r~:"i:'./t '.;. :: jegal)ieterminaticmon:;J),irner Cqu,1:1ty-~oard,<>f Education:~ ~oippliance withJhos~ reqirerrientsii:Jj.,,,;'>c'- . ,) . ;,;, ,'(':-.;, -:: .) .''r?,:(;,f/'.i?'/, ;,/,,', _._:(~~ '.\!(/:'.:/,.);::,:f.\('.;:~/'t;j,~'' >:::'.\'!""11{,'/;;/t'':\'/ 2000SA-I0A In our opinion, the Turner County Board of Education complied, in all material respects, with the requirements referred to above that are applicable to its majorFederal program for the year ended June 30, 2000. Internal Control Over Compliance The management of Turner County Board of Education is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts and grants applicable to Federal programs. In planning and performing our audit, we considered Turner County Board of Education's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with 0MB Circular A-133. 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 of one 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 Turner 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-I0A State Auditor ~ . ~ ,.:\/);:/:;: \ . " ;;'. . . ,, . :'.,.;::,t~i;';Ji:: j-:+:.;d-ii1ii!;,}ii';};~t,V:i:ti{ '. i,<:,::.,;~~-. :' . I. SECTION ID AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS , < : ,(. . -.. :,,-::-~: . ~ J{'. TURNER 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-7421-98-0 I FS-7421-99-01 FS-7421-99-02 Further Action Not Warranted Previously Reported Corrective Action Implemented Unresolved - See Corrective Action/Responses CORRECTIVE ACTION/RESPONSES GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number: FS-7421-99-02 System staffing and budgetary constraints do not allow the gathering and assessing ofthese , asset values for inclusion in the accounting records. ~, ~ -': .. ->:'};_.:::-_'.it::'.j;,;j~.ifi::ti:~?\,, SECTIONN FINDINGS AND QUESTIONED COSTS ' . TURNER COUNTY.BOARD OF EDUCATION 1 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 Turner County Board of Education's financial statements was qualified for various departures from generally accepted accounting principles. 2. Reportable Conditions in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the Turner County Board of Education disclosed a fil)ancial 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 Turner County Board ofEduc3ction disclosed no instances ofnoncompliance that were deemed to be material to the financial statements. 4. Reportable Conditions in Internal Control Over the Major Program The audit report for the Turner County Board of Education did not disclose any reportable conditions in internal control over the major program. 5. Type of Report Issued on Compliance for the Major Program The auditor's opinion on the Turner County Board ofEducation's report on compliance with requirements applicable to the major.program was unqualified. 6. Audit Findings Required to be Reported by Section .510(a) ofOMB Circular A,133. . . The Turner County Board ofEducation's audit did not disclose audit findings required to be reported by section .510(a) ofOMB Circular A-133. 7. Major Program Federal award audited as a major program is as follows: . 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'; program~ was $300,0~0.00. . ~- .,_.-':', ,, . '., .. , l 9. Low RiskAuditee' - 1- TURNER COUNTY BOARD.OF EDUCATION . SCHEDULE OF FINDINGS A.ND QUESTIONED COSTS . - - YEAR ENDED _JUNE 30, 2000 - II FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS GENERAL FIXED ASSETS Failure to Maintain Qeneral Fixed Assets'Account Group Reportable Con~itiqn s Material Weakness.. ,, Repeated From Prior Year _!'inding Control Num_ber: FS 7421 000-01 ~ ... 1} - ,. , The Turner County Board,of E~uc\ltion did not maintain a system0 wide ,General Fi?(ed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. This condition results in tlie general purpose financia'l stat. e' ments of t.he. Board ' being incomplete and not in accordance with generally accepted accounting principles. Appropriate action shoul~. b7 taken by .the Board to establish accounting con\rols and procedures to provide for maintenance of a General Fixed Assets Account Group. The subsidiary records should include an inventory of land, buildings and equipment owned by the Boa'rd and. should include, but"m..ay no. t- be . limited to, date acquired, acquisition cost, estimated replacement cost,-location and description. ..D~tailed records should be maintained cif all a.d.ditions and deletions- t-o- the- General ,Fixed Assets Account Group. , ill FEDERAL AWARD-FINDINGS ANO QUESTIONED COSTS r ~ - - - No matters were reported. , - . . -. .' -; ,. _. -- .:.. ~--.' ., ---.,; ~-. :_!1 .. -- ,.. ,I,. /,.; - . ,. . . . . - {,:.\/~: /J;~.;~},.;.;_'.'l~'.;,,;z: ~ ," : \,.> ,::?\. >' -~r- /: ,- . ,; '1 / ,. :f:\:,. '.(\~://:~-----~~~ ,.~:. ~~-_..,:!_.:.~_;:/_;- -,,:"'; ,Y.?;fi};i{f}c;,;;;~t\J,i;)~~{;,{ti;i;:1;1; -2-