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WALT.ON COUNTY BOARD' OF. EDUCATION 
 
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:. OF THE FINANCIAL STATEMENTS ,. 
 
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2002 
 
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Russell w;Hintori 
 
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 WALTON COUNTY BOARD OF EDUCATION -TABLE OF CONTENTS - 
 
SECTION I 
 
FINANCIAL 
 
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 
 
EXHIBITS 
 
GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
COMBINED STATEMENTS - OVERVIEW 
 
A 
 
COMBINED BALANCE SHEET 
 
ALL FUND TYPES AND ACCOUNT GROUP 
 
2 
 
B 
 
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND 
 
CHANGES IN FUND BALANCES 
 
ALL GOVERNMENTAL FUND TYPES 
 
4 
 
C 
 
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND 
 
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL 
 
(NON-GAAP BASIS) 
 
GENERAL AND SPECIAL REVENUE FUNDS 
 
6 
 
D NOTES TO THE GENERAL-PURPOSE FINANCIAL STAT[MENTS 
 
7 
 
ADDffiONAL FINANCIAL INFORMATION 
 
COMBINING AND INDIVIDUAL FUND STATEMENTS 
 
SPECIAL REVENUE FUND 
 
lo 
 
COMBINING BALANCE SHEEI 
 
18 
 
F 
 
COMBINING STATEMENT OF REVENUES, EXPENDITURES 
 
AND CHANGES IN FUND BALANCES 
 
20 
 
CAPITAL PROJECTS FUND 
 
G 
 
COMBINING BALANCE SHEET 
 
22 
 
H 
 
COMBINING Sl ATEMENT OF REVENUES EXPENDITURES 
 
AND CHANGES IN FUND BALANCES 
 
24 
 
FIDUCIARY FUND TYPE 
 
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES 
 
AGENCY FUND 
 
26 
 
SCHEDULES 
 
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 
 
27 
 
2 SCHEDULE OF STATE REVENUE 
 
29 
 
3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS 
 
31 
 
 WALTON COUNTY DOARD OF EDUCATION -TABLE OF CONTENTS- 
 
SECTION I 
 
FINANCIAL 
 
ADDillONAL FINANCIAL INFORMATION 
 
SCHEDULES 
 
ALLOTMENTS AND EXPENDITURES 
 
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS (QBE) 
 
4 
 
BY PROGRAM 
 
5 
 
BY SITE 
 
Page 
32 33 
 
SECTION II 
COMPLIANCE AND INTERNAL CONTROL REPORTS 
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING DASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORD,\NCE WITH OMD CIRCULAR A-133 
 
SECTION ITT AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIOJ\'ED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS 
 
SECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONbD COSTS 
 
 SECTION I FINANCIAL 
 
 tis.,H I W. II I', roN 
'-,!ATE AUDITOn 
(40.:) 65G ~1/J 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
~~4 WJ~hrngton .;;1rcct ~ W ~ullc 214 AIIJnla Gcorg1J 11l334-84(MI 
Apnl 30, 2003 
 
Honorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of Education 
and Supenntendent and Members of the Walton County Board of Education 
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAI.-PURPOSr: FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF fEDERAL AWARDS 
Ladies and Gentlemen 
We have audited the accompanymg general-purpose financial statements of the Walton County Board of Education, as of and for the year ended June 30, 2002, a~ listed m the table of contents These general-purpose financial statements are the respons1b1lity of the Walton County Board of Education's management Our respons1b1lity 1s to express an opm1on on these general-purpose financial statements based on our audit 
We conducted our audit in accordance with auditing standards generally accepted in the Llmted States of Amenca and the standards applicable to linanc1al audits contained in Government Auditing Standards, issued by the Comptroller General of the Umted States Those standards require that we plan and perfonn the audit to obtain re.isonable assurance about whether the financial statements are free of material misstatement An audit includes examming, on a test basis, evidence supporting the amounts and disclosures in the financial statements An audit also mcludes assessing the accounting pnnc1ples used and significant estimates made by management, as well as evaluating the overall linancial statement presentation We believe that our audit provides a reasonable b~1s for our opinion 
As described m the notes to the general-purpose financial statements. the Board of Educatwn's financial statements have been prepared using certain accounting practices and pohc1es which, m our opm1on, vary in some respects from generally accepted accounting principles This variance 1s described as follows 
 
2002ARL-14 
 
  I he general-purpose financial statement, of the Board of Educallon did not contain a General I- l',ed Assets Account Group to account tor proper!} and equipment owned by the Board of Education which should be included to conform to generally accepted accounting pnnc1ple, 
1 he aggregate effect on the general-purpose tinanc1al ,tatcmenb ofth1, vanance or om1s,1on ha, not been determined. but 1s believed to be material 
In our op1mon. except for the effects on the general-purpo,c financial ,tatemcnts ot the matter reterred to in the preceding paragraph. the general-purpose financial statement, referred to ahove present tairly. in all material re,pect,. the financial pos1t10n of the Walton County Board of I duLat10n a, ofJune 30. 2002. and the re,ults ol 1h operations lor the year then ended. in conformity w 1th aLcounllng pnnc1plcs generally accepted in the Umted States of Amcnca 
A, d1,cussed m l\"ote I to the general-purpose tinancial ,tatemcnts. dunng fiscal year 2002. the Board otTducallon wnsohdated its ind1v1dual school act1v1ty accounts for inclusion in the generalpurpose financial ,tatements 1 h1, change 1, in accordance with accounting principle, generally accepted m the Umted States of Amcnca 
In accordance with Government Audning Standards. \\e hme abo 1,sued our report dated Apnl 30. 2003. on our com1dcrat1on of the Walton County Board ofEducat10n's internal control over financial reporting and our te,l'i of Its comphancl' v.nh certain prons1on, oflaw,. regulations. contract, and grant, That report 1s an integral part of an audit perlormed in accordance with Government Auditing 'itandard, and ,hould he read in conJuncllon \\ 1th th1, report in cons1denng the result, of our audit 
Our audit was performed for the purpo,e ot forming an opm1on on the gcneral-purpo,c financial statement, of the Walton County Board ot l-ducat1on tal-cn a, a whole 1 he accompanying 
comb1mng and mdl\'ldual fund statement, (rxh1b11, r, through I) and the financial ,chedules 
(Schedule, I through 5), which include, the Schedule ofI:: xpendnure, ofrcderal Awards a, required h~ U ', Otficc of :Vfanagemcnt and Budget Circular A-133. foda, of Stt1te.,. [()ea/ (,()vernment1 w1d N()n-l'rofit Orgam=atum, arc pre,ented for purpo~, of additional analys1, and are not a required pan ot the general-purpose financial statement, Such intorniat1on has bccn suhJccted 10 the auditing procedure, applied in the audit of the general-purpose financial statements and m our opinion. c,cept tor the ctlect, ot the matter rctcrred to in the third paragraph. such mtormat1on 1s fairly stated. in all material respects. m relation to the general-purpose financial statements tal-en as a \,hole 
2002ARI -14 
 
 A copy ofth1s report has been filed as a permanent record m the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 506-24 
Respectfully submitted, 
Ul.4J~ 
 
RWHas 2002ARL-14 
 
State Auditor 
 
 wALTON COUNTY BOARD or EDUCATION 
 
 WALTON COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET 
ALL FUND TYPES AND ACCOUNT GROUP JUNE 30 2002 
 
~ Cash and Cash EQ"Urvalents Investments Accoonts Recesvable lnventones 
Food Donated Commochties Purchased Food 
Amount Available u, Debt Servtee Fund Amount to be Provided in Future Years 
For Payment of Bond Debt 
Total Assets 
 
GENERAL FUND 
 
GOVERNMENTAL FUND TYPES 
 
SPECIAL 
 
CAPITAL 
 
REVENUE 
 
PROJECTS 
 
FUND 
 
FUND 
 
$ 16 567 852 02 $ 
 
360 518 51 $ 14 234 758 72 
 
6 234 593 84 
 
974 386 84 
 
915 423 07 
 
36 056 30 36,309 43 
 
s $ 22 802 445 86 
 
1 409 273 08 $ 15 150 181 79 
 
LIABILITIES AND FUND EQUITY 
LIABILITIES 
Cash Oven::lraft Aa:ounls Payable Selanes Payable Explt'9CI Grant Balances Payable Contracts Payable Reta1nages Payable Funds Held for Others General Obllgat10n Bonds Payable 
Total L1ab1lrt1es 
f..U,,10.fll.VITY 
Fund Balances Reserved For Debt Service For Encumbrances For Expired Grant Batances/Oues!Joned Costs For lnvenlones Food Donated Commod111es Purchased Food For Purpose of Bond ls&Ue For SPLOST ProJl!cis For Stalo Capital Outlay Pr0:1ects Unreserved Designated for Self Insurance Oes,gnated tor Land Purchases Undes1gnated 
Total Fund Equity 
 
$ 5 255 439 26 $ 5 874 066 48 12 774 98 
 
399 895 28 s 
600 726 50 
304 88 
 
464 969 03 
662 345 32 403 348 94 
 
s 1114228072 $ 1 000 926 66 $ 
 
1 530 663 29 
 
$ 
$ 1,000 000 00 10 660 165 14 
$ 11.660 165 14 s 
 
38 058 30 36 309 43 
$ 
 
73 315 00 9 417 282 30 
164 445 59 
 
333 978 69 
 
3 964 475 61 
 
408 346 42 $ 13 619 518 50 
 
Total l.JabUlt1es and Fund Equity 
 
s s 22 802 445 86 $ 1 409 273 08 
 
15 150 181 79 
 
The notes to the general-purposo financial statements ere an integral part of th1s statement 
 
. 2. 
 
 EXHIBrT ~A' 
 
DEBT SERVICE 
FUND 
 
FIDUCIARY FUND TYPE AGENCY FUND 
 
$ 
 
499 578 08 $ 
 
256 073 63 
 
53,130 79 
 
ACCOUNT GROUP 
GENERAL LONG-TERM 
DEBT 
 
TOTALS 
 
(Memorandum Onty) 
 
JUNE 30 2002 
 
JUNE 30 2001 
 
s 31 918 780 96 $ 7 928 441 36 
 
23 000 000 00 
 
8 1n 534 54 
 
7 91141665 
 
$ 
 
552 708 87 
 
10 062 291 13 
 
38,058 30 36,309 43 552 708 87 
1006229113 
 
44,963 01 26,13741 435 519 59 
11 044 480 41 
 
$ 
 
552 708 87 $ 
 
s 256 073 63 $ 10 615 000 00 s soi755 683 23 
 
5013901958 43 
 
$ 
 
40 844 78 
 
$ 
 
1106481 
 
$ 6 131 368 38 
 
5 012 583 40 
 
6 -174 792 98 
 
5 670 263 59 
 
13 079 86 
 
824 38 
 
662 345 32 
 
842 362 00 
 
403 348 94 
 
371 899 66 
 
245 008 82 
 
245 008 82 
 
$ 10 615 000 00 
 
10 615 000 00 
 
11 480 000 00 
 
$ 
 
256 073 63 $ 10 615 000 00 $ 24 544 944 30 $ 23 418 777 81 
 
$ 
 
552 708 87 
 
0 00 
 
$ 
 
552 708 87 
 
s 
 
552 708 87 $ 
 
435 519 59 
 
8 524 939 82 
 
31 328 57 
 
38 058 30 36 309 43 73 315 00 9 417 262 30 164 445 59 
 
44 963 01 2613741 
2 563 519 78 407 310 00 
 
1 000 000 00 14 958 619 44 
 
100 000 00 6 745 152 00 8.093 310 44 
 
$ 26 240 738 93 $ 26 972 180 62 
 
$ 
 
552 708 87 $ 
 
s 256 073 63 $ 10 615 000 00 $ 50 785 683 23 
 
50 390 958 43 
 
- 3- 
 
 WALTON COUNTY BOARD OF EDUCATION 
COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES 
ALL GOVERNMENTAL FUND TYPES 
YEAR ENDED JUNE 30 2002 
 
REVENUES 
State Funds Federal Funds Taxes Other Funds 
Total Revenues 
EXPENDITURES 
Current Instruction Support Services Pupil Services Improvement of Instructional SeMceS Educattonal Media Services General Admmtstratlon School At:Jmlmstrallon Busmess Admm1stratlon Maintenance and Operation or Plant Student Transportation Services Central Support SeMces Other Support SelVlces Food Services Oporat1on Enterpnse Operations Community Services Operations 
Capital Outlay Debt Service 
Pnncipal Interest Paying Agent Fees 
Total Expenchtures 
Excess of Revenues over (under) Expenditures 
OTHER FINANCING SOUR\;;ES (USES! 
Operating Transfers In 
Operatmg 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 
Food Inventory - Net Change m Penod Donated Commodities Purchased Food 
 
GENERAL FUND 
 
SPECIAL REVENUE 
FUND 
 
$ 38 896 082 81 $ 62,547 31 
26110 143 60 1 420 894 38 
$ 66 489 668 10 $ 
 
1 540 662 20 4 766,260 28 
1.490 020 74 
7.796 943 22 
 
s $ 43 655 477 01 
2 029 954 22 1 097 728 49 1 375 912 16 1,426,094 35 4,031,795 72 
586 395 93 4 997 357 92 2 65107518 
394 202 31 603 851 33 
732 627 49 
 
3,945,290 92 
143 617 83 259 143 23 
122 850 51 
113 00 
120 00 23,391 41 3 558 765 86 
 
s $ 63,582,472 11 s 2.907 195 99 $ 
 
8 053 292 76 -256 349 54 
 
s 
$ -6 153 566 80 
$ -6, 153,566 80 $ 
 
485 971 45 485 971 45 
 
$ -3 246,370 81 $ 14 906 535 95 
 
229 621 91 175 457 20 
 
-6,904 71 10.172 02 
 
FUND BALANCE JUNE 30 
 
$ 11 660 165 14 $ _ _;4;::0:,8;.:3a:4~6.;:4:;,2. 
 
The notes to the general-purpose financial statements are an integral pan of this statement -4- 
 
 EXHIBIT "8" 
 
CAPITAL PROJECTS 
FUND 
 
DEBT SERVICE 
FUND 
 
TOTALS 
 
(Memorandum Only) 
 
YEAR ENDED 
 
JUNE 30. 2002 
 
JUNE 30. 2001 
 
$ 3 299 213 70 
 
$ 43,735,958 71 s 42,319 106 50 
 
4 828,807 59 
 
4 516 797 73 
 
5,702 448 60 s 1 542 759 25 
 
33,355,351 45 
 
29 628 758 87 
 
375 663 86 
 
1260918 
 
3,299.188 16 
 
3 328 982 85 
 
s 9 377 326 16 s 1,555,368 43 s 85,219,305 91 s 79 793 645 95 
 
s 12,983,801 45 s 
s 12 983 801 45 s s -3.606.475 29 s 
 
s 47 600 767 93 s 42 599 741 83 
 
2,173 572 05 1 356,871 72 1 375 912 16 1 548 944 86 4 031 795 72 
586 395 93 4,997,470 92 2 651 075 18 
394 322 31 627 242 74 3,558 765 86 732,627 49 
12 983 801 45 
 
1,904,409 82 1,414 640 73 1 169 357 77 1 532 105 04 3411,863 90 
483,498 26 4,897,083 79 2,609,420 62 
364,414 25 895 073 21 3 205 767 25 
250 00 9 197,265 66 
 
865 000 00 572,377 50 
801 65 
 
865,000 00 572,377 50 
801 65 
 
81500000 609 770 00 
797 40 
 
1438.17915 s 86 057 745 47 s 75 110 459 53 
 
11718928 s -838,439 56 s 4 683 186 42 
 
s 5 667,595 35 s 5,667.595 35 
 
s 6,153,566 80 s 1,019,162 98 
 
-6.153,566 80 
 
-1 019162 98 
 
s 
 
0 00 s 
 
000 
 
s s 2,061,12006 
11 558,398 44 
 
11718928 s -838 439 56 s 4 683,186 42 
 
435 519 59 
 
2707591118 
 
22 289 040 43 
 
-6,904 71 10 172 02 
 
5 204 23 -5 250 46 
 
S 13 619,518 50 S 
 
552.708 87 S 26 240 738 93 S 26,972,180 62 
 
- 5- 
 
 WALTON COUNTY BQARP OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES 
BUDGET ANO ACTUAL - <NON--GAAP BASIS) 
GENERAL AND SPEClAL REVENUE FUNDS YEAR ENQEP JUNE 30 2002 
 
EXHIBIT "C" 
 
GENERAL FUND 
 
BUDGET 
 
ACTUAL 
 
REVENUES 
State Funds Federal Funds Taxes Olher Funds 
 
s 37,714,001 00 $ 
23 250,000 00 1 754 393 00 
 
38 896 082 81 62,547 31 
26 110 143 60 1 420 894 38 
 
Total Revenues 
 
$ 62 718 394 00 $ 66 489 668 10 
 
EXPENDITURES 
 
Current lnslrucbon Support ServtceS Pupil Services Improvement of lnstruchonal Services Educational Media S8MC8S General Adm1mstra1Jon School Adrrumslrahon Business Adm1n1stratton MaLOtenance and Operauon of Plant Student Transportation Services Cen1ral Support Services Other Support Services Food Serv~s Operation Enterpnse Operations 
Caprtal Outlay 
 
$ 42 659 636 00 $ 43 655 477 01 
 
2 HIB,085 00 1,171,148 00 1 397,849 00 1 637,944 00 3 891 661 00 
480 678 00 5 306 171 00 2 451 208 00 
35441100 639 700 00 
 
2 029 954 22 1 097,726 49 1 375 912 16 1 426,094 35 4 031,795 72 
586 395 93 4 997,357 92 2 651,07518 
394 202 31 603,851 33 
 
197 893 00 
 
732 627 49 
 
Total Expenditures E.xcess of Revenues over (under) Expend11ures 
 
$ 62 376 384 00 $ 63 582 472 11 
 
s 
 
342 010 00 $ 2 907 195 99 
 
OTHER FINANCING SOURCES <USES) 
Other Sources Other Uses 
Total Other FlllSnang Sources (Uses) 
 
s 
 
1 254 67 
 
s -6 451 638 00 
 
-6.154 821 47 
 
s -6 451 638 00 s -6 153 566 60 
 
Excess of Revenues and Olher F1nanca,g Sources over (under) Expenditures and Other Fmancmg Uses 
 
s -6 109 628 00 s -3 246 370 61 
 
FUND BALANCE JULY 1 2001 
 
142,203 00 
 
14 906 535 95 
 
Food Inventory - Nel Change m Penod Donated Commodities Purchased Food 
 
FUND ~~~CE JUNE i12 ZQQZ 
 
s $ -5 967 425 00 
 
11660 165 14 
 
SPECIAL REVENUE FUND 
 
BUDGET 
 
ACTUAL 
 
s 1 308 461 00 $ 1 540,662 20 
 
4 933 538 00 
 
4 766 260 28 
 
1 295 277 00 
 
1 490 020 74 
 
$ 7 537 276 00 $ 7 798 943 22 
 
$ 4 145 554 00 s 3,945 290 92 
 
135 746 00 355 897 00 
 
143 617 83 259 143 23 
 
166,565 00 
 
122 850 51 
 
2 027 00 120 00 
23 933 00 3 404 935 00 
 
113 00 
120 00 23 391 41 3 558 765 66 
 
s 8 254 777 00 s 8 053 292 76 
$ -717.501 00 $ -256 349 54 
 
$ 716 176 00 s s 716 176 00 s 
 
487 226 12 -1 254 67 
465 971 45 
 
s 
 
-1 325 00 $ 
 
229 621 91 
 
175 457 20 
 
-6 904 71 10 172 02 
 
s 
 
1 325 00 $ 408 346 42 
 
The notes to the general-purpose linanoal statements are an mtegral part of this slatement . 6. 
 
 WALTON COUNTY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30. 2002 
 
Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
REPORTING ENTITY 
The Walton County Board ofEduca!Jon (School D1stnct) was established under the laws ofthe State of Georgia and operates under the gmdance of a school board elected by the voters and a Supenntendent appointed by the Board The School D1stnct 1s organized as a separate legal entity and has the power to levy taxes and issue bonds Its budget 1s not subJect to approval by any other entity Accordingly. the School D1stnct 1s a pnmary government and consists of all the organ1Lat1ons that compose its legal enllty 
FUND ACCOUNTING 
The School D1stnct uses funds and an account group to report on its financial pos1t1on and the results of1ts opcrallons Fund accounting 1s designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certam governmental functions or act1v1hes A fund 1s a separate accounting entity with a self-balancing set of accounts An account group 1s a linanc1al reporting device designed to provide accountability for certain assets and 1idb11iues that are not recorded in the funds because they do not directly affect expendable available financial resources 
General Fixed Assets are recorded as expenditures m the vanous funds at the time of purchase A General Fixed Assets Account Group 1s not presently mamtained by the School D1stnct To conform to generally accepted accountmg pnnc1plcs, a General Fixed Assets Account Group should be mamtamed for reportmg the cost of assets acquired by governmental fund types 
The general-purpose financial statements account for all State, Federal. Taxes and Other funds under control of the School D1stnct, m compliance with generally accepted accountmg pnnc1ples applicable to governmental umts, unless otherwise disclosed m these notes Funds and the account group presented m this report are as follows 
GOVERNMENTAL FUND TYPES - are used to account for all or most of the School D1stnct's educational activities Governmental Fund Types mclude 
GENERAL FUND - the fund used to account for all financial resources of the School D1stnct except those required to be accounted for in another fund These transactions relate to resources obtamed and used for services provided by a board of education 
SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for maJor capital proJects) that arc legally restncted to expenditures for spec, lied purposes These funds are received pnmanly from the Georgia Department of Education and from the Federal government to accomph,h ,pcc11ic cducallonal obiect1ves 
 
-7- 
 
 WALTON COUNfY BOARD OF EDUCATTON 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30. 2002 
 
Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acqms1hon or construchon of maJor capital fac1hhes 
DEBT SERVICE FUND- the fund used to account for the accumulation ofresources for, and the payment of, general long-term pnnc1pal, interest and pa)'lng agent fees 
FIDUCIARY FUND TYPE - the fund used to account for assets held by a government umt in a trustee capacity or as an agent for ind1v1duals, pnvate organ1zal!ons, other government umts and/or other funds This fund includes 
AGENCY FUND - the fund used to account for assets held in a fiduciary capacity for other funds, governments, or ind1v1duals 
ACCOUNT GROUP 
GENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for general obhgat10n debt outstanding 
BASIS OF ACCOUNTING 
The accounting and financial reporting treatment apphed to a fund 1s 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 hab1hhes generally are included on the balance sheet Operating statements of these funds present increases (1 e , revenues and other financing sources) and decreases (1 e, expenditures and other financing uses) in net current assets Their reported fund balance 1s considered a measure of available spendable resources 
Liab1ht1es which are expected to be financed from available spendable resources are reported as hab1ht1es in the governmental funds Other hab1ht1es, which are not expected to be financed from available spendable resources, arc reported in the General Long-Term Debt Account Group 
Agency funds are purely custodial in nature and do not involve measurement ofresults ofoperat10ns 
Governmental funds are accounted for using the modified accrual basis of accounting under which 
Revenues are recognized when susceptible to accrual (1 e, when they become both measurable and available) "Measurable" means the amount of the transaction can be determined and "available" means collect1ble within the current penod or soon enough thereafter to be used to pay hab1ht1es of the current penod The School D1stnct considers receivables collected within sixty days after yearend to be available Property taxes, sales taxes and interest arc considered to be susceptible to accrual Nonexchange transactions, in which the School D1stnct gives (or receives) value without 
 
-8- 
 
 WAL I ON COUN fY BOARD OF EL>l 1CATIO!'{ 
 
EXI 11131T "D" 
 
NO I ES 10 fHE GLNl:.RAL-PURPOSE rINANCIAL STAJEMENTS 
 
JUNE JO, 2002 
 
'\Jote 1 ~L'M\1 \RY Or SIGNII !CAN r ACCOUNTING POI ICIES 
directly rece1\'Jng (or giving) equal value in e,-change. include property taxes. local option ,ales l<Lxe~. intcrgo\ cmmental grants and donations RcYenue for property t.ixes 1s recognized m the fiscal year tor which the taxc, are leY1ed ReYcnue from sale, taxe~ 1, recognized m the fiscal year the resources are received or ,u,ccpt1blc to accrual Revenue from gmnts and donat10n~ 1s recognized in the fiscal )ear in which all cl1g1b1hty reqmremenh haYe been ,ausficd 
E:1.pcnditurc~ dre generally recogniLed when the relakd fund habiluy 1s mcurrcd 
A ;ubstant1JI number of personnel of the School D1,tnct \\WC emplo)ed for a one hundred and ninety day penod bcginning in August 200 I and t:nding in early June 2002 Employment contracts for these employment periods typically specify that compen,allon be paid in twel\c equal monthly payments hegmning m September 2001 and end mg in ,\ugu,t 2002 Stale grants to fund the State's shJre of these contracts arc disbursed to the School D1stnct in the same twelve month penod In accordance with generall) acceph..-d accounting pnnc1plcs. salary and fringe benefit expenditures and the related re\ t:nue from the State to tund these contract; are recorded m the fi~cal pt:nod cm,crcd hy these finanual statements 
AgenC) funds arc Jccountcd for using the modi lied accrual basis ofacwunting m rccognwng a~sets and habil111es 
RESTATEMENT OF PRIOR YEAR Fll'ID BALAJljCE 
ln pnor year~. the School Acllv1ty Accounts for tht: School D1stnct were not reported wnh the general-purpose financial statements These accounts had J fund balance of $103. 730 56 at 
r June 30. 200 I I or fiscal year 2002. these accounts have been reported as a part of the General und 
and F1duc1ary I und 1 he fund balance at July 1, 2001. has been rest.ited JS appropriate 
BUDGET 
I he Walton County Board of Education's budget 1s a complete lin.incial plan for the School 1)1,tnct's liscJI year and 1s based upon e,umate, of expend11ures together \\Ith probable tundmg sourccs There 1, no statutory proh1b111on regard mg overexpcndllure of the budget at any lc\'cl The budget for all govemmemal funds 1s prepared b) fund. function and obJell I he legal level ot budget control \\J, e,tahl1,hed b) the Board at the aggn.:gate level The budget tor gowmmcntal fund, w.1, prepared on a ba,1s other than generally accepted Jccountmg pnnc1ple5 
I he budget proce" begm, \\hen the School D1stnct\ adm1m,trat1on prepare, a tcntat1\ c budget for the Board', Jppro, al Alier apprm al ol th1, tcntat1\ e budget b) the Board. such budget 1, Jd\'crt1,ed at le.1st once ma ncw~paper ot gcner.il c1rculJl1on m the locality At the next regu!Jr meetmg of the Board alter ad\ ert1,cment, the Board rece1\'e~ comments nn the tcntat1\ c budget mal-.e, re\ 1,10n, a, necessary and adopts a tinal school budget I his final budget 1, then submitted. m accordance with 
 
- () - 
 
 WALTON COUNTY BOARD Of EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL S1 ATEMENTS 
 
JUNE 30, 2002 
 
Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
 
prov1s1ons of the Quality Basic Educallon Act, OCGA Section 20-2-167(c), to the Georgia Department of Education The Board may mcrease or decrease the budget at any lime dunng the year All unexpended budget authonty lapses at fiscal year-end 
 
CASH AND CASH EQUIVALENTS 
 
COMPOSITION OF DEPOSITS Cash and cash equivalents consist of cash on hand, demand deposits and short-term mvestments with ongmal matuntles of three months or less from the date of acqms1tlon m authonzed financial mst1tut10ns Georgia Laws OCGA 45-8-14 authonze the School D1stnct to deposit its funds m one or more solvent banks or msured Federal savmgs and loan associat10ns 
 
RECEIVABLES 
 
Receivables consist of grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from mformallon available Receivables are recorded when either the asset or revenue recogmtlon cntena has been met Receivables recorded on the general-purpose financial statements do not mclude any amounts which would necessitate the need for an allowance for uncollectible receivables 
 
PROPERTY TAXES 
 
The Walton County Board ofComm1ss1oners fixed the property tax levy for the 2001 tax digest year (calendar year) on August 15, 2001 (levy date) Taxes were due on November 15, 2001 (hen date) Taxes collected w1thm the current fiscal year or w1thm 60 days after year-end on the 2001 tax digest are reported as revenue m fiscal year 2002 The Walton County Tax Commissioner bills and collects the property taxes for the School D1stnct, withholds 2 5% of taxes collected as a fee for ta>. collection and remits the balance of taxes collected to the School D1stnct Property tax revenues dunng the fiscal year ended June 30, 2002 for mamtenance and operallons amounted to $24,928,165 14 and for school bonds amounted to $1,485,841 20 
 
Tax millage rates levied for the 2001 tax year (calendar year) for the Walton County Board of Educat10n were as follows (a mill equals $1 per thousand dollars of assessed value) 
 
School Operations School Bonds 
 
16 94 mills 0 96 mills 
 
.lL2Q mIIIs 
 
- 10 - 
 
 WALTON COUNTY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO TI-IE GENERAL-PURPOSE FINANCIAL STATEMENTS 
nJNE Jo. 2002 
 
Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
SALES TAXES 
Special Purpose Local Option Sales Tax revenue dunng the year amounted to S5,702,448 60 and 1s to be used for capital oullay for educational purposes or debt service This sales tax was authonzed by local referendum and the sales tax must be re-authonzcd at least every five years 
INVENTORIES 
FOOD INVENTORIES Inventories of donated food commod1t1es used m the preparat10n of meals are reported on the Combmed Balance Sheet at their Federally assigned value Purchased foods mventones arc reported on the Comb med Balance Sheet at cost (first-m, first-out) Donated food commod1t1es are recorded as revenues and expenditures at the time commod1ty items are received Purchased foods mventones are recorded as expenditures at the time of purchase The mventones reported on the balance sheet for donated food commod11Ies and for purchased foods arc equally offset by reservations of fund balance winch md1catcs that these amounts do not constitute "available spendable resources" even though they are a component of net current assets 
COMPENSATED ABSENCES 
Compensated absences represent obligations of the School D1stnct relatmg to employees' nghts to receive compensation for future absences based upon service already rendered This obligation relates only to vestmg accumulatmg leave m which payment 1s probable and can be reasonably estimated No hab1hty has been recorded m the md1v1dual funds for the current portion of this obhgallon as this amount 1s deemed 1mmatenal to the general-purpose financial statements 
Additionally, the dollar value of accumulated compensated absences at June 30, which will be payable from future resources has not been recorded m the General Long-Term Debt Account Group as tins hab1hty 1s also deemed to be 1mmatenal to the fair presentation of these financial statements 
GENERAL OBLIGATION BONDS 
The School D1stnct issues general obligation bonds lo provide funds for the acqu1s1t1on and construction ofmaJor capital fac1hhes Bond premiums and discounts, as well as issuance costs, are recogrnzed m the financial statements dunng the year bonds arc issued General obhgauon bonds are direct obligations and pledge the full faith and credit ofthe government The outstandmg amount of these bonds 1s recorded m the General Long-Term Debt Account Group 
INTERFUND TRANSACTIONS 
The School D1stnct has the followmg types ofmterfund transactions 
 
- 11 - 
 
 WALTON COUNfY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 2002 
 
Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
Reimbursements of expenditures 1ru!Jally made fi-om a fund that are properly applicable to another fund are recorded as expendnures m the re1mbursmg fund and as reductions of expenditures m the fund that 1s reimbursed 
Operating transfers are recorded for all mtcrfund transactions other than reimbursements 
MEMORANDUM ONLY - TOTAL COLUMNS 
Total columns on the general-purpose financial statements are capt10ned "Memorandum Only" to md1catc that they arc presented only to fac1htate financial analysis Data m these columns do not present financial pos1tJon or results of operatJons m conformity with generally accepted accounting pnnc1ples Neither arc such data comparable to a consohdatJon Interfund ehminatlons have not been made m the aggrega!Jon oftlus data 
Note 2 DEPOSITS 
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any tJme many depository for a llme longer than ten days a sum of money which has not been secured by surely bond, by guarantee of msurancc, or by collateral The aggregate of the face value of such surety bond and the market value of secunlles pledged shall be equal to not less than 110 percent of the pubhc funds bemg secured after the deducllon ofthe amount ofdeposit insurance If a depository elects the pooled method (OCGA 45-8-13 I) the aggregate of the market value ofthe secuntJes pledged to secure a pool ofpubhc funds shall be not less than 110 percent ofthe daily pool balance OCGA Sect10n 45-8-11 (b) provides an officer holdmg pubhc funds may, m his d1screuon, waive the requ1rement for secunty m the case of opcratmg funds placed m demand deposit chcckmg accounts 
Acceptable secunty for deposits consists of any one of or any combmal!on of the followmg 
(I) Surety bond signed by a surety company duly quahfied and authonzed 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 d1rec1 ohhgahons of the United Stales or of the State of Georgia, 
(4) Bonds, bills, notes, certificates of indebtedness or other obhgat1ons of the counties or mumc1paht1es of the State of Georgia, 
(5) Bonds of any pubhc authonty created by the laws of the State of Georgia, providing that the statute that created the authority authonzcd the use of the bonds for this purpose, 
- 12 - 
 
 WALTON COUNTY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30. 2002 
 
Note 2 DEPOSITS 
 
(6) Industnal revenue bonds and bonds of development authont1es created by the laws of the State of Georgia, and 
 
(7) Bonds, bills, notes, certificates of mdcbtedness, or other obhgat10ns of a subs1d1ary corporation of the Umted States government, which arc fully guaranteed by the Umted States government both as to pnnc1pal and mterest or debt obligations issued by the Federal Land Bank, the Federal Home Loan B.mk, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association 
 
CATEGORIZATION OF DEPOSITS At June 30, 2002, the bank balances were $15,136,589 20 The amounts of the total bank balances are classified mto three categones of credit nsk 
 
Category 1  Cash that 1s msured (e g., Federal depository msurance) or collaterahzed with secuntles held by the School D1stnct or by the School D1stnct's agent m the School D1stnct's name 
Category 2. Cash collaterahzed with secunt1es held by the plcdgmg financial mstltullon's trust department or agent m the School D1stnct's name 
Category 3  Uncollaterahzed deposits (This includes any bank balance that 1s collatcrahzed with secun!Ies held by the plcdgmg financial mst1tut1on, or by its trust department or agent but not m the School D1stnct's name ) 
 
The School D1stnct's deposits are classified by nsk category at June 30, 2002, as follows 
 
Risk Category 
 
Bank Balance 
 
1 
 
$ 1,013,270 43 
 
2 
 
13,888,381 43 
 
3 
 
234 937 34 
 
Total 
 
$ J5. !36.589,20 
 
Note 3 NON-MONETARY TRANSACTIONS 
 
The School D1stnct receives food commod11Ics from the Umted States Department of Agnculture (USDA) for school breakfast and lunch programs These commod11Ies arc recorded at thelT Federally assigned value See Note l  Inventories 
 
 13  
 
 - - - - - - - - - - - - - - --- 
 
WALTON COUN1Y ROARD OF EDUCATION 
 
EXHIBIT "D" 
 
NO1ES TO TIIE GENERAL-PURPOSE FINANCIAL S1ATEMENTS 
 
JUNE 30. 2002 
 
Note 4 RISK MANAGEMENT 
 
The School D1stnct 1s exposed to vanous nsks of loss related to torts, theft of, damage to. and destrucl!on of assets. errors or om1ss1ons,Job related illness or mJunes to employees, acts of God and unemployment compensal!on 
 
The School D1stnct has obtamed commercial msurance for nsk of loss associated with torts, assets, errors or om1ss10ns,Job related illness or mJunes to employees and acts of God The School D1stnct has neither s1gmficantly reduced coverage for these nsks nor mcurred losses (settlements) which exceeded the School D1stnct's msurance coverage m any of the past three years 
 
The School District 1s self-msured with regard to unemployment compensahon claims The School D1stnct accounts for claims w1thm the General Fund with expenditure and hab1hty bemg reported when 111s probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated 
 
Changes m the unemployment compensahon claims hab1hty dunng the last two fiscal years are as follows 
 
Hegmmng of Year L1ab1hty 
 
Claims and Chdnges m Estimates 
 
Claims Paid 
 
[nd of Year L iab1hty 
 
2001 2002 
 
$ 
 
0 00 $ 16 483 58 $ 16 483 58 $ 
 
0 00 
 
$ 
 
0 00 $ 1943692 s 19 436 92 s 
 
000 
 
The School D1stncl has purchased surety bonds to provide add1t1onal msurance coverage as follows 
 
Pos1t1on Covered 
 
Amount 
 
Superintendent All Other Employees 
 
$ 100.000 00 S 100,000 00 
 
Note 5 GENERAL LONG-TERM DEBT 
 
GENERAL OBLIGATION DEBT OUTSTANDING General Obhgal!on Bonds currently outstandmg are as follows 
 
Purpose 
 
Interest Rates 
 
Amount 
 
General Government - Senes 1995 
 
4 20%- 6 00% $1Q.6 l5.000,00 
 
The changes m General Long-Term Debt dunng the fiscal year ended June 30, 2002, were as follows 
 
- 14 - 
 
 WALTON COUNTY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMEN1 S 
 
JUNE 30, 2002 
 
Note 5 GENERAL LONG-TERM DEBT 
 
General Obhgat1on 
Bonds 
 
Balance July I, 2001 
 
$11,480,000 00 
 
Deduclions Debt Rclired 
 
865,000 00 
 
Balance June 30, 2002 
 
SIO..6..) 5..O__QQ,_QQ 
 
At June 30, 2002, payments due by fiscal year which mcludes pnnc1pal and mterest for these items are as follows 
 
Fiscal Year Ended June 30 
 
General Obligat1on 
Bonds 
 
2003 2004 2005 2006 2007 2008 - 2011 
Total Pnnc1pal and Interest 
 
$ 1,191,457 50 1,478,080 00 1,485,550 00 1,489,050 00 1,493,650 00 6,159,000 00 
sI3,296.78.7 .5..0 
 
Note 6 ON-BEHALF PAYMENTS 
 
The School D1stnct has recogmzed revenues and expenditures m the amount of $655,453 73 for health insurance and relirement contnbut1ons paid on the School D1stnct's behalf by the followmg State Agencies 
 
Georgia Department of Educalion Paid to the Georgia Department of Community Health For Health Insurance ofNon-Cert1fic<l Personnel In the amount of$548,IJS 01 
 
Paid to the Teachers Ret1rement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $11,604 72 
 
- 15 - 
 
 WALTON COUNTY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATJ:,MENTS 
 
JUNE 30. 2002 
 
Note 6 ON-BEHALF PAYMENTS 
 
Office of Treasury and Fiscal Services Prud to the Pubhc School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost In the amount ofS95.714 00 
 
Note 7 SIGNIFICANT COMMITMENTS 
 
The followmg 1s an analysis of s1gruficant outstandmg construction or rcnovat10n contracts executed by the School D1stnct as of June 30, 2002, together with fundmg avrulable 
 
Pro1ect 
 
Unearned Executed Contracts 
 
Fundmg Avrulable From State 
 
New Adm1mstratJve Bmldmg Bond 036/02S-747-040 GSFIC 98/97S-747-100 Lottery 026-01 S-747-038 
 
$ 65,839 26 29,800 00 2,267 24 
513,072 32 
 
s 682,517 00 
461,238 30 
366,579 30 
 
$ 610,218.82 $ 1,51 Q,314,6Q 
 
The amounts descnbed m this note are not reflected m the general-purpose financial statements 
 
Note 8 CONTINGENT LIABILITIES 
 
Amounts received or receivable pnnc1pally from the Federal government are subJect to audit and review by grantor agencies This could result m requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms The School D1stnct heh eves that such d1sallowances, 1f any, will be 1mmatena\ to its overall financial pos1t10n 
 
The School D1str1ct 1s a defendant m vanous legal proceedmgs pertammg to matters mc1dental lo the performance ofroutme School D1stnct operauons The ultimate d1spos1t1on of these proceedings 1s not presently determmable, but 1~ not believed to be matenal to the general-purpose financial statements 
 
Note 9 ACCUMULATED EMPLOYEES' LEAVE 
 
Personnel employed on a twelve-month basis shall be enlltled to two weeks vacation at the end of the first through fourth years of employment and three weeks ofvacauon at the end of the fifth and subsequent years of employment Vacal!on time shall be earned on a monthly basis '\Jo more than five weeks of accumulated vaca110n may be earned over to the followmg fiscal years 
 
- I6 - 
 
 WAI TON (OUN IY BOARD OF [DUCA TIO~ 
 
1:XHIRll "D" 
 
NOl ES TO THr Gl::-..LRAL-PURPOSE rINAl'<CIAI Sl ATEMENTS 
 
JUJ\E 30. 2002 
 
Note CJ ACCl lMlJLATED r~MPl O\TES' LEAVE 
 
The School D1,tnct's profes,1onal pe~onnel. admin1strat1ve staff. hu, drivers and certain other fulllime employee, cam one and one-quarter days of ,1ck leave each month with a maximum accumulat1,m of I KO days l 1pon rcmcment. an emplo)ee with a minimum of five year, ol full-time service in the school system will he ehg1hle to sell unused "ck leave at half of the current ,ub,t1tute pay tor the po,iuon held hy the employee at the t1mc of retirement In add1tmn. 1f an employee choose, to leave the ,Lhool system before retirement after hcing employed full-lime for a minimum ol ten con,ecut1ve years. they will be eligible to ,di unu,ed "ck leme at half the current ,ubslltute rate tor the po\ltl(ln held by the employee at the time they leave employment Teacher, and bus dnver,. however. may only ,ell down to 45 days of "ck leave 1f they leave for employment with another ,chool dJStnct 
 
Noll' IO RFl IR[ME'\iT PLANS 
 
TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) 
 
1 RS PLAN Dl:SCRIPTION Suh,tantiall) all teacher,. adn11m,trat1ve and elcncal personnel employed h) local school d1stnch arc covered by the I eachers Retirement System of Georgia (TRS). which 1s a cost-,hanng multiple employer dclined benefit pension plan fRS provide, service rcllrcmcnL d1sab1hty retirement and ,urv1,or, benefit, tor 11, members in accordance with State statute The Ic.ichcrs Retirement ~) ,tcm ol Georgia 1,,ue, a ,eparate ,land alone financ1.il audit report and a copy can he obtained Imm the Georgia Depanment of Audits and Accounts 
 
TR~ CONTRIB!ITIONS REQUIRrD >\ND MADF-. Lmployces ol the School D1stnct who arl' covered by TRS arc required hy State ,tatute to contnhutc 5% of their gro,, earning, to TRS nie School D1,tnct makes month I) employer contnhut1ons to rRS at rate, adopted hy the I RS Board ofTru,tcc, in accordance with State statute and a, adv"ed h) their independent actuary The required employer contnbutmn rate 1s CJ 24% ,md employer contnhuuon, for the current fiscal year and the preceding two fi,cal ~ear, are a, follows 
 
1-Jsc.il 'r car 
 
Percentage Contnhuted 
 
Required Contnbut1on 
 
2002 200 I 2000 
 
100% 100% 100% 
 
$3.642.76138 $ 3.915.583 57 $ 3.614,934 50 
 
- 17 - 
 
 WALTON COUN1Y BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND 
JUNE 30 2002 
 
ASSETS 
Cash and Cash Equivalents 
Accounts Receivable 
lnventones Food Donated Commod1bes Purchased Food 
 
SCHOOL FOOD 
SERVICES FUND 
 
LOTTERY PROGRAMS 
 
$ 
 
583,735 45 $ 
 
157,380 75 
 
25,863 03 
 
17,207 42 
 
38,058 30 36 309 43 
 
Total Assets 
 
$ 
 
683,966 21 $ ___11_4_5_0aa0..1_1_ 
 
LIABILITIES AND FUND EQUITY 
LIABILITIES 
Cash Overdraft Accounts Payable Salanes Payable Expired Grant Balances Payable 
Total L1ab1ht1es 
FUND EQUITY 
Fund Balances Reserved For Encumbrances For lnventones Food Donated Commod1ties Purchased Food Unreserved Un designated 
Total Fund Equity 
Total L1ab1ht1es and Fund Equity 
 
$ 
 
62,401 50 $ 
 
39,371 83 
 
213,218 29 
 
135,216 34 
 
$ 
 
275 619 79 $ 
 
174 588 17 
 
$ 
 
38,058 30 
 
36,309 43 
 
333 978 69 $ 
 
000 
 
$ 
 
408 346 42 $ 
 
0 00 
 
$ 
 
683,966 21 $ _ _1_7_.4_,5.,88=-1=7= 
 
See notes to the general-purpose financial statements - 18 - 
 
 EXHIBIT"E" 
 
FEDERAL PROGRAMS 
 
TOTALS 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 
 
741,11620 $ 
 
484,255 91 
 
$ 
 
931,316 39 
 
974,386 84 
 
977,737 15 
 
38,058 30 36 309 43 
 
44,963 01 26 137 41 
 
$ 
 
931 316 39 $ 1789870 77 $ 1533093 48 
 
$ 
 
380,597 69 s 
 
380,597 69 $ 
 
525,100 69 
 
298,121 95 
 
399,895 28 
 
312,593 64 
 
252,291 87 
 
600,726 50 
 
519,941 95 
 
304 88 
 
30488 
 
$ 
 
931 316 39 $ 1,381,524 35 $ 1 357 636 28 
 
$ 
 
1,254 67 
 
$ 
 
38,058 30 
 
36,309 43 
 
44,963 01 26,13741 
 
333 978 69 
 
10310211 
 
$ 
 
000 $ 
 
408 346 42 $ _ _1~7=5-~45=7~2=0~ 
 
s 
 
931 316 39 $ 1 789 870 77 $ 1.533.093 48 
 
- 19 - 
 
 WALTON COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES 
SPECIAL REVENUE FUND YEAR ENDED JUNE 30, 2002 
 
REVENUES 
State Funds Federal Funds Other Funds 
Total Revenues 
EXPENDITURES 
Current Instruction Support Services Pupil Services Improvement of lnstruc:tJonal Services General Admm1strat1on School Admm1strat1on Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation 
Total Expenditures 
Excess of Revenues over (under) Expenditures 
OTHER FINANCING SOURCES 
Operating Transfers In 
Excess of Revenues and Other Fmancmg Sources over (under) Expenditures 
FUND BALANCE JULY 1 
Food Inventory - Net Change In Pertod Donated Commod1lles Purchased Food 
FUND BALANCE JUNE 30 
 
SCHOOL FOOD 
SERVICES FUND 
 
LOTTERY PROGRAMS 
 
$ 
 
235.676 00 $ 1.304.986 20 
 
1.649.857 70 
 
1,490,020 74 
 
$ 3 375 554 44 $ 1304986 20 
 
$ 1.243.877 31 
116.023 68 1.633 12 193 59 
113 00 
 
$ 3,558,765 86 
 
$ 3,558,765 86 $ 1.361 840 70 
 
$ -183.211 42 $ 
 
-56,854 50 
 
414 088 00 
 
$ 
 
230.876 58 $ 
 
174,202 53 
 
-6,904 71 10 172 02 
 
56 854 50 
000 000 
 
$ 
 
408 346 42 $ _____o_o_o_ 
 
See notes to the general-purpose financ,al statements - 20 - 
 
 EXHIBIT "F" 
 
FEDERAL PROGRAMS 
 
TOTALS 
 
YEAR ENDED 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 1,540,662 20 $ 1,397,189 67 
 
$ 3,116,402 58 
 
4,766,260 28 
 
4,465,619 99 
 
1490020 74 
 
141123986 
 
$ 311640258 $ 7,796,943 22 $ 7 274 049 52 
 
$ 2,701,413 61 $ 3,945,290 92 $ 3,508,338 10 
 
27,594 15 257,51011 122,656 92 
120 00 23,391 41 
 
143,617 83 
259,143 23 - 
122,850 51 
113 00 
120 00 23,391 41 3 558 765 86 
 
189,081 51 358,942 02 
83,653 04 9,234 30 1,239 89 1,367 25 
93,712 23 3,205,767 25 
 
s 3,132,686 20 $ 8,053,292 76 $ 7 451 335 59 
 
$ 
 
-16,283 62 $ 
 
s -256,349 54 
 
-177,286 07 
 
15 028 95 
 
485 971 45 
 
146 175 67 
 
$ 
 
-1,254 67 S 
 
229,621 91 $ 
 
-31,11040 
 
1,254 67 
 
175,457 20 
 
206,613 83 
 
-6,904 71 1017202 
 
5,204 23 -5 250 46 
 
s 
 
0 00 $ 
 
408 346 42 $=~1.1..5...,45_1..,2""0'= 
 
- 21 - 
 
 WALTON COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30. 2002 
 
ASSETS Cash and Cash Equivalents Investments Accounts Receivable 
 
REGULAR 
 
BOND PROCEEDS 
 
GEORGIA STATE FINANCING AND 
INVESTMENT COMMISSION 
 
$ 4.003,809 35 $ 
 
73,31500 $ 
 
123,714 89 
 
Total Assets 
 
$ 410031809 35 $ 
 
73 315 00 $ -=~12;;;3~7~1;;;4~8;,;;9;,. 
 
LIABILITIES AND FUND EQUITY 
LIABILITIES 
Accounts Payable Contracts Payable Retamages Payable 
Total l.Jab1ht1es 
FUND EQUITY 
Fund Balances Reseived For Encumbrances For Purposes of Bond Issue For SPLOST Projects For State Capital Outlay Projects Unreserved Undes1gnated 
Total Fund Equity 
 
$ 
 
39,333 74 
 
$ 
 
39 333 74 
 
$ 
$ 3 964 475 61 $ 3 964 475 61 $ 
 
73,315 00 $ 
0 00 73 315 00 $ 
 
123 714 89 000 
123 714 89 
 
Total L1ab1lrt1es and Fund Equity 
 
$ 4 003 809 35 $ 
 
73 315 00 $-=~12a;,3~7~1;;,4~89~ 
 
See notes to the general-purpose financ,al statements - 22 - 
 
 EXHIBIT "G" 
 
SPECIAL PURPOSE LOCAL OPTION SALES TAX $ 9,993,188 78 $ 
915 423 07 
 
LOTTERY PROJECT 
 
TOTALS 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
s 40,730 70 $ 14,234,758 72 
 
3,191,08347 
 
9,000,000 00 
 
915 423 07 
 
887 038 57 
 
4073070 $ 15150181 79 $ 13 078 122 04 
 
$ 
 
464,969 03 
 
623,011 58 
 
403 348 94 
 
$ 1 491 329 55 
 
$ 
 
464,969 03 $ 
 
305,461 94 
 
662,345 32 
 
842,362 00 
 
403 348 94 
 
371 899 66 
 
$ 1,530,663 29 $ 151972360 
 
$ 9,417,282 30 
$ 
0 00 
$ 9 417 282 30 $ 
 
$ 40,730 70 
 
s 
73,315 00 9,417,282 30 
164,445 59 
 
8,442,516 31 
2,563,519 78 407,310 00 
 
0 00 
 
3 964 475 61 
 
145 052 35 
 
40 730 70 $ 13,619,518 50 s 11 558 398 44 
 
$ 10,908,611 85 $ 
 
40.73070 $ 1515018179 $ 13 078 122 04 
 
- 23 - 
 
 WALTON COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES 
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 2002 
 
REVENUES 
 
REGULAR 
 
BOND PROCEEDS 
 
GEORGIA STATE FINANCING AND 
INVESTMENT 
COMMISSION 
 
State Funds Taxes Other Funds 
 
$ 
 
0 00 $ 
 
000 $ 
 
000 
 
Total Revenues EXPENDITURES 
 
$ 
 
0 00 $ 
 
000 $ 
 
000 
 
Capital Outlay 
 
Land and Land Improvements 
 
$ 1,750.418 09 
 
$ 
 
000 
 
Building and Bu1ld1ng Improvements 
 
97,754 00 $ 
 
44,700 00 
 
Equipment 
 
Total Expenditures 
 
$ 1848172 09 $ 
 
44 700 00 $ 
 
000 
 
Excess of Revenues over (under) Expenditures $ -1,848, 172 09 $ 
 
-44 700 00 $ 
 
000 
 
OTHER FINANCING SOURCES (USES) 
 
Operating Transfers In Operating Transfers Out 
 
$ 5.667.595 35 $ 
 
11801500 
 
Total Other Financing Sources (Uses) $ 5,667,595 35 $ 
 
11801500 
 
Excess of Revenues and Other Financmg Sources 
 
over (under) Expenditures and Other Financing 
 
Uses 
 
$ 
 
FUND BALANCE JULY 1 
 
3,819,423 26 $ 145 052 35 
 
73.315 00 $ 000 
 
000 123 714 89 
 
FUND BALANCE JUNE 30 
 
$ 3 964 475 61 S 
 
73 315 00 $==1=2,_3_7_14_8_,9'= 
 
See notes to the genera~purpose financ,al statements - 24 - 
 
 EXHIBIT "H" 
 
SPECIAL PURPOSE LOCAL OPTION SALES TAX 
 
LOTTERY PROJECT 
 
TOTALS 
 
YEAR ENDED 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 3,299,213 70 $ 3,299,213 70 $ 3,410,272 59 
 
$ 5,702,448 60 
 
5,702,448 60 
 
5,358,530 65 
 
375 663 86 
 
375 663 86 
 
654 097 89 
 
$ 6078,11246 $ 3,299,21370 $ 9,377,32616 $ 9,422,90113 
 
s 2,182,663 93 
4,824,076 56 $ 418 395 87 
$ 7,425,136 36 $ 
$ -134702390 $ 
 
$ 3,665,793 00 
 
3,933,082 02 $ 8,632,323 56 
418 395 87 
 
3,665,793 00 $ 12,983,801 45 $ 
 
-366 579 30 $ -3,606,475 29 $ 
 
848,571 50 8 274,872 76 
73 821 40 
9,197,265 66 
225 635 47 
 
$ 
 
-118 015 00 
 
$ 
 
-118 015 00 
 
$ 5 785,610 35 $ 2,535,801 70 
 
-118 015 00 
 
-1,662,814 39 
 
$ 5,667,595 35 $ 
 
872 987 31 
 
$ -1,465,03890 $ 10,882,321 20 
 
-366,57930 $ 2,061,12006 $ 1,098,62278 
 
407 310 00 
 
11 558 398 44 
 
10 459 775 66 
 
$ 9417,28230 $ 
 
40,73070 $ 13,619,51850 $ 1155839844 
 
- 25 - 
 
 WALTON COUNTY BOARD OF EDUCATION 
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES 
FIDUCIARY FUND TYPE -AGENCY FUND 
YEAR ENDED JUNE 30 2002 
 
EXHIBIT"!" 
 
SCHOOL ACTIVITY ACCOUNTS ASSETS 
Cash and Cash Equivalents 
LIABILITIES Accounts Payable Funds Held for Others 
 
BALANCE JULY 1, 2001 
 
ADDITIONS 
 
DEDUCTIONS 
 
BALANCE JUNE 30, 2002 
 
s $ 20353994 $ 124386910 
 
119153541 $ _ _2_5_6._0.1..3_6_3_ 
 
$ 
 
11,064 81 
 
$ 
 
$ 20383994 
 
1,232,80429 $ 119163541 
 
11,06481 245,008 82 
 
$ 203.839 94 $ 1 243 869 1o s 1 191 635 41 s__2_5_6._0._73._6_3_ 
 
See notes to the general-purpose finanoal statements 
 
- 26 - 
 
 WALTON COUNTY BOARD QF EDUCATION ~ L E OF EXPENPITURES OF FEDERAL AWARDS 
YEAR ENDER JUNE 30 2002 
 
SCHEDULE 1 
 
FUNDING AGENCY PRQGRAMIGRANT 
Agnculture U S Department of Child Nutnl1on Cluster Pass-Through From Georgia Department of Fducat:on Food ar.cl Nutnhan Program Food Services School Breakfast Program Nat10nal School Lundi Program Pass-Through From Office of School Readiness Food and Nutnlton Program Food Services Summer Food Servic:e Program for Children 
Tcl.al Child NulnlIon Cttr..ter 
Other Programs Pass-Thrcugh From Georgia Department of Educat10n Food end Nutnllon Program Fooo Services Food D1str1but1on Program (1) 
Total U S Department of Agriculture 
Educalton U S Department of Speaal Educabon Cluster Pass-Through From Georgia Department of Education Individuals with Dtsab111!1es Education Act Part B - Special Education Flow Through Capacity Building lmprovoment Preschool 
Total Special Educabon Cluster 
Other Programs Pass-Through From Georgia Department of Educahon Comprehensive Scilool Reform DemonstraltO'l PrQfect Elementary and Secondary Educa110n Act TIiie I Axoun1ab1llty Grants Grants to Local Educaltonal Ageooes T1tlo II Eisenhower Profess,onal Development Title VJ Innovative Education Program Strategies Class Sizo Reduction Safe and Drug Free SchOOls and Commun1trcs Vocabonal Education - Basic Gmnts to States High ~hool Program Basic Grant 
Total U S Departmont of Education 
Defense U S Department or Direct Department ol the Air Forco R O T C Program 
 
CFDA NUMBER 
 
PASSTHROUGH 
ENTITY ID 
NUMBER 
 
FEDERAL REVENUE IN PERIOD 
 
EXPENDITURES IN PERIOD 
 
10 553 10 555 
 
NIA 
 
$ 
 
3;;?981851 
 
(2) 
 
NIA 
 
1 144 426 19 s 
 
3 401,909 50 (3) 
 
10 559 
 
NIA 
 
18 75664 
 
2 
 
  1 493 001 34 
 
3 401 909 50 
 
10 550 
 
NIA 
 
156 856 36 
 
156 856 36 
 
s 
 
1 649 857 70 s 
 
3 558 765 86 
 
84 027 84 027 84 173 
 
NIA 
 
s 
 
1 001 211 39 s 
 
1 002 137 92 (3) 
 
NIA 
 
3 487 94 
 
3 487 94 
 
NIA 
 
38 787 00 
 
38 787 00 
 
s 
 
1 043 486 33 s 
 
1 044 412 86 
 
84 332 
84 348 84 010 84 281 84 298 84 340 84 186 
84 048 
 
NIA 
 
49,695 12 
 
49 695 12 
 
NIA 
 
50 1.44 09 
 
50 144 09 
 
NIA 
 
1 472 484 22 
 
1 472 484 22 
 
NIA 
 
60 457 92 
 
62 766 19 [3) 
 
NIA 
 
56 559 75 
 
56 559 75 
 
NIA 
 
262 755 00 
 
27511311 (3) 
 
NIA 
 
40,432 15 
 
40 432 15 
 
NIA 
 
BO 388 00 
 
81 078 71 [3) 
 
s 
 
311640258 s 
 
3 132 686 20 
 
62 547 31 
 
(4) 
 
Tolal Fodcral Financial Assistance NIA= Not Available 
 
- 27 - 
 
s 
 
4 828 807 59 s 
 
6 691 452 06 
 
 WALTON COUNTY BOARD OF EDUCATION 
SCHEDULE QF EXPENDITURES Of FEDERAL AWARDS 
YEAR ENDED JUNE 30 2002 
 
SCHEDULE 1 
 
Note:, to the Schedule of [xpendrtures of Federal Awards 
(1) The amounts shown for the Food D1stnbut1on Program represents the Federally assigned value of nonmonetary assistance for donated commod1t1es received end/or consumed by the syslem dunng the current fiscal year 
(2) Expenditures for the School Breakfasl Program and the Summer Food Service Program for Children were not maintained separalely and are induded m the 2002 Nat1011al School Lunch Program 
(3) Expenditures f0< this program mdude State and/or Other Funds Expenditures are not mamta1ned by fund source 
(4) Expend1tues on lh1s program were not ma1nta1ned by fund source 
Maier Programs are 1dent1fl8d by an astensk I') m from of the CFDA number 
The School D1stnct did not prOVlde Federal Assistance to any SJbrec,p1ent 
Tho accompanying schedulo of expenditures of Federal awards mdudes the Federal grant act1111ty of the Walton County Board of Educa11on and LS presented on the mod1f1ed accrual basis of accountrng wtuch rs lhe baSJs of accounting used m the presentatlOfl of !ho general-purpose financial statements 
 
See notes to the genera1-purpose l1nar.c1al statements 
 
 28 - 
 
 WALTON COUNTY BOARD OF EDUCATION 
SCHEDULE OE STATE REVENUE YEAR ENDED JUNE 30 2002 
 
SCHEDULE "2" 
 
AGENCY/FUNDING 
 
GOVERNMENTAL FUND TYPES 
 
SPECIAL 
 
CAPITAL 
 
GENERAL 
 
REVENUE 
 
PROJECTS 
 
FUND 
 
FUND 
 
FUND 
 
TOTAL 
 
GRANTS 
 
Educabon Georgia Department of 
 
Ouahty Basx: Educabon 
 
Direct Instructional Cost 
 
Kmdergarten Program 
 
s 
 
Kindergarten Program - Early lntervenbon Program 
 
Pnmsry Grades (1-3) Program 
 
Pnmery Grades - Earty ln1ervent1on {1-3) Program 
 
Upper Elementary Grades (4-5) Program 
 
Upper Elementary Grades Eerty lntervenbon 
 
Mlddle School (6-8) Program 
 
High School General Education (9-12) Program 
 
Vocational Laboratory (9-12) Program 
 
Students wrth Dlsabllrues 
 
Category I 
 
Category II 
 
Category Ill 
 
Category IV 
 
Category V 
 
Grfted Student - Category VI 
 
RemedLSI Education Program 
 
Altematrve Education Program 
 
EnghSh Speakers of Other Languages (ESOL) 
 
Mech Center Program 
 
20 Days Additional lnstruc:b01'1 
 
Staff end ProfesslOllal Development 
 
Indirect Cost 
 
Categoncel Grants 
 
Pup1I T rensportatJon 
 
Regular 
 
Bus Replacement 
 
Nursing SeMCes 
 
PrlncipalSupplements 
 
Vocat1011al Supervisors 
 
Deferred Summer Salanea (Pnor Year) 
 
Deferred Summer Salanes (Current Year) 
 
Educ:a1ron Equalizabon Funding Grant 
 
Fo<XI Services 
 
Vocational Educauon 
 
Other State Programs 
 
Apprentrcesh1p Program 
 
K-3 Statewide Reading Program 4-8 StatOWlde Mer School Program 
 
Health Insurance 
 
Mentor Teacher& 
 
Outdoor Classrooms 
 
Preschool Handicapped Program 
 
Student Adllevemenl 
 
Teachers' Retirement 
 
Lottery Programs 
 
Asslstive Tecl'vlo\ogy 
 
Computers In the Classroom 
 
Exceptional GroNlh-Capctal Outlay 
 
2 067 762 00 563 175 00 
5 591 535 00 971 515 00 
2 661 738 00 348 548 00 
4 945,891 00 3 234 502 00 1 249,012 00 
601 690 00 890 232 00 2,906 995 00 449,808 00 
16 612 00 57217800 
41 640 00 J44 830 00 196 724 00 856 931 00 251,10700 
167,292 00 
4 973 051 00 
1 308 494 00 316 310 00 196 440 00 41 138 00 55 482 00 
-4,957 878 01 4,962 866 00 1,665,559 00 
s 
73 688 16 
55 000 00 11168713 
86 256 40 548 135 01 
7 497 00 1 500 00 128,769 40 59,632 00 1160472 
 
s 2 067 762 00 
563 175 00 5 591,535 00 
971 515 00 2 861,738 00 
346 548 00 4,945 891 00 
3,234 502 00 
124901200 
601 690 00 
890 232 00 
2,906 995 00 449 808 00 16 612 00 572 178 00 4164000 
344 830 00 
196 724 00 856 931 00 251,10700 167 292 00 4 973 051 00 
 
235 676 00 
 
16 837 00 23a 250 00 
 
s 3 299 213 70 
 
1 308 494 00 316 310 00 196 440 00 4113800 55 482 00 
-4 957 878 01 4 962 866 00 1 665 559 00 
235 676 00 73 688 16 
55 000 00 11168713 
86 256 40 548 135 01 
7 497 00 1 500 00 128 769 40 59 632 00 11,60472 
16 837 00 236 250 00 3 299 213 70 
 
Georgia State Urnversrty School-Wide DISOpbne lrubetIve 
 
5 000 00 
 
5 000 00 
 
Office of School Readiness Pre-Kindergarten Program 
 
1 049 899 20 
 
1 049 899 20 
 
 29- 
 
 WALTON COUNTY BOARD OF EDUCATION 
SCHEDULE QF STATE REVENUE YEAR ENPEP JUNE 30 2002 
 
SCHEDULE "2" 
 
AGENCY/FUNDING 
GRANTS Office of Treasury and Fiscal Services Public School Employees Retirement 
 
GOVERNMENTAL FUND TYPES 
 
SPECIAL 
 
CAPITAL 
 
GENERAL 
 
REVENUE 
 
PROJECTS 
 
FUND 
 
FUND 
 
FUND 
 
TOTAL 
 
S --~=-S"-7-'-14-'-"-00=- 
 
_ _ _ _ _ S -----'9"5"',7"'1c,4_,0c,Oc.. 
 
S 3889608281 S 154066220 $ 329921370 $ 4373595871 
 
See notes to the general-purp:)Se financial statements 
 
 30- 
 
 WALTON COUNTY BOARD OF EDUCATION 
SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS 
YEAR ENDED JUNE 30, 2002 
 
SCHEDULE "3" 
 
PROJECT 
To pay the costs or adding to, renovating, repalnng Improving and equipping BX1sllng educatlonal bu11dlngs, properties and facillties of Walton CoWlty Sd'lool Dlstnd mduding but not hmlled to acqumng constructing and eqU1pping two new elementary schools and a new l'lllddle school, acquumg any necessary real property, acqumng school buses and acqwnng and mstaUmg oomputer and other technology related equipment 
To pay the costs of acquiring constructing and equipping two new elomentary schools and a new high sdlool ac:qwnng land for future sdlool Sites and adchng to, renovating, repairing Improving, fUIT\lstung and equipping exist.Jog educational buildings properties and faallltes of the Wallen County School DLStnct 
 
ORIGINAL ESTIMATED 
COST (1) 
 
CURRENT ESTIMATED COSTS(2) 
 
AMOUNT EXPENDED IN CURRENT 
YEAR (3) 
 
AMOUNT EXPENDED 
IN PRIOR YEARS(3) 
 
PROJECT STATUS 
 
$ 31,00000000 $ 32,28253700 $ 11,121,96336 $ 10,697,41967 Ong01ng 
 
40 390,000 00 40 390 000 00 
 
13 666 00 
 
Ongomg 
 
$ 71,39000000 $ 72,67253700 $ 11135,62936 S 1069741967 
 
(1) The School D1stnd's original cost esUmato as specified m the resolubon calhng for the lmpos1Uon of the Local Option Sales Tax 
(2) The School Oislnd's OJJTent esllmato of total cost for the projects Includes all cost from prOjed. inception to completion 
(3) The voters of Walton County approved the 1mpos1llon of a 1% sales tax to fund the above proJedS Amounts expended for these proJects may include sales tax proceeds, slate, local property taxes and/or other funds over the life of the pro,ects 
 
See notes to the general-purpose finanaal statements 
 
 WALTON COUNTY BOARD OF EDUCATION 
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAM !QBE} ALLOTMENTS AND EXPENDITURES - BY PROGRAM YEAR ENDED JUNE 30 2002 
 
SCHEDULE "4" 
 
DESCRIPTION 
 
ALLOTMENTS FROM GEORGIA DEPARTMENT OF EDUCATION (1) 
 
ELIGIBLE QBE PROGRAM COSTS 
 
SALARIES 
 
OPERATIONS 
 
TOTAL 
 
Direct Instructional Programs 
 
Kindergarten Program 
 
s 
 
Kindergarten Program-Earty lntervenllOn Program 
 
Primary Grades (1-3) Program 
 
Primary Grades-Early Intervention (1-3) Program 
 
Upper Elementary Grades (4-5) Program 
 
Upper Elementary Grades-Earty Intervention (4-5) 
 
Program 
 
Middle School (6-8) Program 
 
High School General Educabon (9-12) Program 
 
Vocatlonal laboratory (9-12) Program 
 
Students with Olsab~lbes 
 
GategQIY I 
 
Category II 
 
Category Ill 
 
Category IV 
 
Category V 
 
Gifted Student - GategQIY VI 
 
Remedial Education Program 
 
Altemabve Education Program 
 
English Speakers of Other Languages (ESOL) 
 
TOTAL DIRECT INSTRUCTIONAL PROGRAMS 
 
$ 
 
s s 2,438 163 00 
 
1,982,645 09 
 
657,689 00 
 
1,440 681 98 
 
6 529,931 00 
 
6,576 342 43 
 
1 134,557 00 
 
1,522 676 32 
 
3 332,652 00 
 
3,829113 82 
 
s 172,084 85 
13,322 82 
504 266 03 19 795 07 
332,523 37 
 
2,154 729 94 1 454,004 80 7 080,608 46 1,542,471 39 4 16163719 
 
416 398 00 5,775,931 00 3,777 329 00 1,458,626 00 5,882 095 00 
668 203 00 48,862 00 
402,701 00 229 739 00 
 
471,581 85 6 262,048 52 5 070 063 92 1,309,297 67 
449,16216 985 823 37 4,188 721 78 106 593 21 
703 298 92 106,494 92 705 698 39 452 048 63 
 
6 841 01 462 803 49 422,675 16 15681194 
21,838 99 16 313 97 375,648 53 13,070 73 
683 99 17 727 88 
553 82 27 281 32 
8 144 55 
 
478,422 86 6 724 852 01 5 492 739 08 1466,10961 
471,001 15 1 002 137 34 4,564 370 31 
119,663 94 683 99 
721 026 60 107,048 74 732,979 71 460 193 18 
 
s s s 32,552 878 00 36,162,292 98 
 
2 572 387 32 
 
38,734,680 30 
 
Macha Center Program Staff and Professional Development 
 
1 000 744 00 195,369 00 
 
1 030 774 85 70 607 99 
 
242,915 89 281 780 54 
 
1 273,690 74 352,388 53 
 
TOTAL QBE FORMULA FUNDS 
 
s 
 
33 748 989 00 S 37 263 675 82 S 3 097 083 75 S 40 360 759 57 
 
(1) Composed of State Funds plus Local Five MIii Share 
 
See notes to the general-purpose financial statements 
 
- 32 - 
 
 WALTON COUNTY BOARD OF EDUCATION GENERAL FUND QUALITY BASIC EDUCATION PROGRAM (QBE} 
ALLOTMENTS AND EXPENDITURES  BY SITE YEAR ENDED JUNE 30 2002 
 
SCHEDULE "5" 
 
SITE 
Atha Road Elementary School Loganville Pnmary School Loganville Elementary School Carver Middle School Walnut Grove Elementary School Loganville High School Youth Elementary School Loganville Middle School Monroe Pnmary School Walker Park Elementary School Monroe High School Monroe Elementary School CrossRoads Alternative Facility Central Office (Alternative Educa~on Program) 
TOTAL 
(1) Compnsed of State Funds plus Local Five Mill Share 
 
ALLOTMENTS FROM GEORGIA DEPARTMENT OF EDUCATION (1) 
 
ELIGIBLE QBE PROGRAM COSTS 
 
$ 
 
3, 155,076 00 $ 
 
3,490,592 60 
 
2,702,339 00 
 
3,030,023 02 
 
2,273,540 00 
 
2,643,500 24 
 
3,693,861 00 
 
4,166,231 93 
 
2,014,252 00 
 
2,438,975 26 
 
3,945,010 00 
 
4,831,362 55 
 
366,471 09 
 
4,100,723 00 
 
4,872,485 09 
 
2,586,773 00 
 
2,909,635 12 
 
2,101,545 00 
 
2,510,941 38 
 
3,375,137 00 
 
4,504,987 46 
 
2,201,919 00 
 
2,485,806 73 
 
477,724 19 
 
402,701 00 
 
5,943 64 
 
$ 
 
32,552,876 00 $ 38,734,680 30 
 
See notes to the general-purpose financial statements - 33  
 
 SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS 
 
 \)f '- l" 
" ,,, 
" ' 
"'/.:'lb 
 
1 ss1 LL W. H1-.1 m, 
'-:,lML AUl'IITC"1n \C.1 .:.,:.,:; .-'l -t 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
25-1 W.1,hington Street, S \V !:-au1tc 21-1 AtlJnta. Georg1J 3(1334-8-+f){) 
Apnl 30, 2003 
 
Honorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board ofEducat10n 
and Supenntcndent and Members of the Walton County Board of Education 
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCLA.L REPORTING BASED ON AN AUDIT OF FINANCIAL STATEME:\'TS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 
Ladies and Gentlemen 
We have audllcd the financial statements of Walton County Board of E<lucallon as of and for the year ended June 30, 2002, and have issued our report thereon <lated Apnl 30, 2003 This report was qualified for a departure from generally accepted accountmg pnnc1ples, as 1dent1fied m the auditor', report on the general-purpose financial statements We conducted our audit m accordance with aud1tmg standards generally accepted m the Umted States ofAmenca and the standard, applicable to financial audits contamcd m Government Aud1tmg Standards, issued by the Comptroller General of the Umted States 
Compliance 
As part of obtammg reasonable assurance about whether Walton County Board of Education's financial ,tatemcnt, are free ofmatcnal misstatement, we pcrforn1ed tests of1ts compliance with ccrtam prov1s1ons oflaws, regulat10ns, contracts and grants, noncompliance wllh which could have a direct and matenal effect on the dctcrmmat10n of financial statement amounts However, prov1<lmg an opm10n on compliance with those prov1s10ns was not an obJec!Ive of our audit, and accordmgly, we <lo not express such an opm1on The results ofourtests disclosed no mstances of noncompliance that arc reqmred to be reported under Government Au<l1tmg Standards 
Internal Control Over Fmancial Reportmg 
In plannmg and pcrformmg our audit, we considered Walton County Board of Educat10n's mtemal control over financial reportmg m order to detcrmme our aud1tmg proLe<lures for the purpose of expressmg our op1mon on the financial statements and not to provide dssurancc on the internal 
2002YB-41 
 
 control over financial reporting However, we noted a certain matter involvmg the internal control over financial reporting and its operation that we consider to be a reportable cond1t10n Reportable conditions involve matters coming to our attention relating to s1gmficant defic1cnc1es in the design or operation of the internal control over financial reporting that, m ourJudgment, could adversely affect Walton County Board of Education's ab1hty to record, process, summarize and report financial data consistent with assertions of management in the financial statements The reportable cond1t10n 1s descnbed in the accompanying Schedule of Findings and Qucst10ncd Costs as item FS-7471-02-01 
A matenal weakness 1s a cond1t1on m which the design or opcrat10n of one or more of the internal control components does not reduce to a relatively low level the nsk that misstatements in amounts that would be matenal m relation to the financial statements being audncd may occur and not be detected within a timely penod by employees in the normal course of performing their assigned func\lons Our cons1dcratlon of the internal control over financial reporting would not necessanly disclose all matters in the internal control that might be reportable conditions and, accordingly, would not necessanly disclose all reportable conditions that are also considered to be material weaknesses However, we consider item FS-7471-02-01 to be a matenal weakness 
This report 1s intended solely for the information and use of the management, members of the Walton County Board ofEducat10n, Federal awarding agencies and pass-through entitles and 1s not intended to be and should not be used by anyone other than these specified parties 
Respectfully submitted, 
-:l:;. I ct:j.. I \.,~ (.J  
Hinton State Auditor 
RWH as 2002YB-41 
 
 Js~H I W. HINTO" 
c;T!ITE AUDITOR (40,1i 65f ,'1,4 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
254 W,1shmgton Street, SW \uuc 214 AIIJnlJ, Gcorg1J 10314-841kl 
Apnl 30, 2003 
 
Honorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of Education 
and Supenntendent and Members of the Walton County Board of Education 
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULAR A-133 
Ladies and Gentlemen 
Compliance 
We have audited the comphance of Walton County Board of Educat10n with the types of compliance requirements descnbcd in the US Office of Management and Budget (0MB) Circular A-133 Compliance Supplement that are applicable to each oflls maJor Federal programs for the year ended June 30, 2002 Walton County Board of Education's maJor Federal programs arc 1dcnllfied in the Summary of Auditor's Results Section of the accompanying Schedule of Findings and Questioned Costs Compliance with the reqmrcments of laws, regulations, contracts and grants apphcablc to each of its maJor Federal programs 1s the respons1b1hty of Walton County Board of Educat10n's management Our respons1b1hty 1s to express an opinion on Walton County Board of Education's compliance based on our audit 
We conducted our audit of comphance in accordance with auditing standards generally acLeptcd in the Umtcd States of Amenca, the standards apphcablc to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the Umted States, and 0MB Circular Al 33, A.udlls of States. Local Governments, and Non-Profit Orgamzat10m Those standards and 0MB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types ofcompliance requirements referred to above that could have a direct and matenal effect on a maJor Federal program occurred An audit includes examinmg, on a test basis, evidence about the Walton County Board of Educat10n's compliance with those rcqmrcmcnts and performing such other procedures as we considered neces,ary in the circumstances We heh eve that our audit provides a reasonable basis for our opinion Our audit docs not provide a legal determination on Walton County Board of Educat10n's comphance w11h those requm:ments 
2002SA-10 
 
 In our op1mon, the Walton County Board of Education comphcd, in all matenal respects, with the rcqmrements referred to above that arc applicable to each of Its maJor Federal programs for the year ended June 30, 2002 
Internal Control Over Compliance 
The management of Walton County Board of Education 1s responsible for estabhshing and maintaining effective internal control over compliance wnh reqmrcments of laws. rcgulat1ons, contracts and grants applicable to Federal programs In planmng and performing our audit, we considered Walton County Board ofEducallon's internal control overcomphance with reqmrements that could have a direct and matenal effect on a maJor Federal program in order to determine our aud1tmg procedures for the purpose of expressing our opinion on compliance and to test and report on mtemal control over compliance in accordance with 0MB Circular A-133 
Our cons1derat10n of the internal control over compliance would not necessanly d1sclosc all matters in the internal control that might be matenal weaknesses A matenal weah.ness 1s 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 nsk that noncompliance with applicable reqmrements of laws, rcgulallons, contracts and grants that would be matenal in relation to a maJor Federal program being audited may occur and not be detected within a timely penod by employees in the normal course of performing theu assigned funcllons We noted no matters involving the internal control over compliance and Its operauon that we consider to be matenal weaknesses 
This report 1s intended solely for the inforrnallon and use of the management, members of the Walton County Board of Education, Federal awarding agencies and pass-through enlIIIes and 1s not intended to be and should not be used by anyone other than these specified parties 
Respectfully submitted, 
- ~F-1\:k 
Hinton State Auditor 
RWHas 2002SA-IO 
 
 SECTION Ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS 
 
 WALTON COUNTY BOARD OF EDUCATION AUDITEE'S RESPONSE 
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30. 2002 
 
PRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS 
 
FINDING CONTROL NUMBER AND STATUS 
 
FS-7471-99-01 FS-7471-00-02 FS-7471-01-01 
 
Previously Reported Corrective Aclion Implemented Further Act10n Not Warranted Unresolved - See Corrcclive Acl!on/Responscs 
 
CORRECTIVE ACTION/RESPONSES 
 
GENERAL FIXED ASSETS Failure to Mamtam General Fixed Assets Account Group Fmdmg Control Number FS-7471-01-01 
 
Currently the School D1stnct has provided part-time personnel to resolve this findmg It 1s the goal ofthe School D1stnct that the General Fixed Assets Group will be mamtamed and mcluded m the fiscal year 2003 audit. 
 
 SECTION IV 
FINDINGS AND QUESTIONED cos rs 
 
 WALTON COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS 
YEAR ENDED JUNE 30. 2002 
I SUMMARY OF AUDITOR'S RESULTS 
Type of Report Issued on the Financial Statements The audnor's op1mon on the Walton County Board ofEducat10n's financial statements was qualified for a departure from generally accepted accounting pnnc1plcs 
2 Reportable Cond1t1ons in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the Walton County Board of Education disclosed a financial statement reportable eond1t1on related to the following control category 
General Fixed Assets 
The reportable cond1t1on descnbed above 1s considered to be a material weakness 
3 Noncomphance Malena! to the Financial Statements The audit of the Walton County Board of Education disclosed no instances of noncompliance that were deemed to be material to the financial statements 
4 Reportable Cond1t10ns in Internal Control Over Ma1or Programs The audit report for the Walton County Board ofEducahon did not disclose any reportable condll1ons in internal control over maJor programs 
5 Type of Report Issued on Compliance for Ma1or Programs The auditor's op1mon on the Walton County Board ofEducahon's report on comphance with reqmrements applicable to maJor programs was unquahfied 
6 Audit Findings Regmred to be Reported by Sect10n 510(a) ofOMB Circular A-133 The Walton County Board of Education's audit did not disclose audit findings reqmred to be reported by section 510(a) ofOMB Cucular A-133 
7 Ma1or Programs Federal awards audited as maJor programs are as follows IO 553 Food and Nutnllon Program - Food Services - School Breakfast Program IO 555 Food and Nutnt10n Program - Food Services - National School Lunch Program IO 559 Food and Nutnllon Program - Food Services - Summer Food Service Program for Children 
8 Type "A" Program Dollar Threshold The dollar threshold for type "A" programs WdS $300,000 00 
9 Low Risk Aud1tee The Walton County Board of Education qualified as a low nsk aud1tee as defined by Section 530 of 0MB Circular A-133 
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 WALlON COUNTY BOARD 0~ EDUCATION SCHEDlJL[ 0~ FINDINGS AND QU[S rIONl:.D COSTS 
YEAR FNDED JUNE 30. 2002 
II rINANCIAL STATEMENl FINDINGS AND Ql JESl IONED COSTS GENERAL I IXl:.D ASSETS Failure to Maintain General F1'l.ed A~sets Account Group Reportable Cond1uon - Material Weakness Repeated ~ rom Pnor Year Finding Control Number rS-7471-02-01 rhe Walton County Board of l:.ducat1on did not mainlain a ,y,tem-w1de General Fixed As,ets Account Group within the formal accounting records a~ required by generally accepted accounting pnnc1plcs This cond111on result, in the general-purpose financial ~tatcments of the School D1stnct being incomplete and not in accordance with generally accepted accounting pnnc1ple, Appropriate acuon should be taken by the School D1~tnct to establish accounting controls and procedure~ to pro, 1de for maintenance of a Genernl Fixed Assets Account Group l hese subs1d1ary records should mcludt: an inventory of land. bmldmg, and equipment o"'ned by the School D1stnct and should mdudc. but may not he hm1ted to. date acquired. acqu1s1t1on co~I. e~t1mated replacement cost. locauon and dc,cnpl1on Detailed records should be mamtained of all add111on~ and deleuons to the C,eneral f 1xed A,set, Account Group III FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported 
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