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" ~, WILKES COUNTY BOARD OF EDUCATION -TABLEOFCONTENTS- 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 AND EXPENDABLE TRUST FUND 4 C COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS 7 D COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS 8 E COMBINED STATEMENT OF CASH FLOWS FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS 9 F NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 11 ADDmONAL FINANCIAL INFORMATION COMBINING STATEMENTS SPECIAL REVENUE FUND G COMBINING BALANCE SHEET 22 H COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 24 I FIDUCIARY FUND TYPES COMBINING BALANCE SHEET 26 SCHEDULES 1 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 28 2 SCHEDULE OF STATE REVENUE 31 WILKES COUNTY BOARD OF EDUCATION -TABLEOFCONTENTS- SECTION I FINANCIAL ADDmONAL FINANCIAL INFORMATION SCHEDULES ALLOTMENTS AND EXPENDTIURES GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS (QBE) 3 BY PROGRAM 32 4 BY SITE 33 SECTIONll COMPLIANCE AND INTERNAL CONTROL REPORTS REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 SECTIONm AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS SECTIONN FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS SECTION I FINANCIAL RUSSELL W. H"'TON STATE AUDITOR (404) 6562174 DEPARTMENT OF AUDITS AND ACCOUNTS 254 Wa~hJngton Slreet, S W. o Suite 214 Atlanta. Georgia 30334-g400 December 19,2002 Honorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of Education and Superintendent and Members of the Wilkes County Board of Education INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS Ladies and Gentlemen: We have audited the accompanying general-purpose financial statements of the Wilkes County Board of Education, as of and for the year ended June 30, 2002, as listed in the table of contents. These general-purpose financial statements are the responsibility of the Wilkes County Board of Education's management. Our responsibility is to express an opinion on these general-purpose financial statements based on our audit. Except as discussed in the following paragraph, we conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to fmancial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 2002, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. 2002ARL-13 As described in the notes to the general-purpose financial statements, the Board of Education's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: * The general-purpose financial statements of the Board of Education did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board of Education which should be included to conform to generally accepted accounting principles. * School activity accounts maintained at the individual schools are not included in the general-purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general-purpose financial statements. * The Board of Education did not recognize as expenditures, in the year ended June 30, 2002, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 2002. Also funds received, subsequent to June 30, 2002, 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, 2001, were improperly recorded in the year ended June 30, 2002. 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 of such adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and 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 Wilkes County Board ofEducation as ofJune 30, 2002, and the results ofits operations and the cash flows ofits nonexpendable trust funds for the year then ended, in conformity with accounting principles generally accepted in the United States ofAmerica. In accordance with Government Auditing Standards, we have also issued our report dated December 19, 2002, on our consideration of the Wilkes County Board of Education's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit. 2002ARL-13 Our audit was perfonned for the purpose of fonning an opinion on the general-purpose financial statements of the Wilkes County Board of Education taken as a whole. The accompanying combining statements (Exhibits G through I) and the financial schedules (Schedules 1 through 4), which includes the Schedule of Expenditures of Federal Awards as required by U. S. Office of Management and Budget Circular A-B3, Audits of States, Local Governments, and Non-Profit Organizations, are presented for purposes of additional analysis and are not a required part of the general-purpose financial statements. Such infonnation has been subjected to the auditing procedures applied in the audit ofthe general-purpose financial statements and in our opinion, except for the effect of adjustments, ifany, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy ofthe food service inventories as discussed in the third paragraph, and except for the effects ofthe matters referred to in the fourth paragraph, such infonnation is fairly stated, in all material respects, in relation to the general-purpose financial statements taken as a whole. A copy ofthis report has been filed as a permanent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code ofGeorgia Annotated Section 506-24. Respectfully submitted, RWH:as 2002ARL-13 R sell W. Hinton State Auditor ~KESCOUNTYBOARDOFEDUCATION ------------------------ ------- ---- - ---- - - WILKES COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 2002 cash and Cash Equivalents Investments Accounts ReceIVable Inventones Food Donated Commodities Purchased Food Amount Available in Debt service Fund Amount to be Provided In Future Years For Payment of Bond Debt GOVERNMENTAL FUND TYPES SPECIAL DEBT GENERAL REVENUE SERVICE FUND FUND FUND $ 959,058.38 $ 181,402.21 $ 101.896.18 273.50345 312,30879 12,13294 27,912,17 13,42307 Total Assets $ 1.232,561.83 $ 4551540,21 $ 193,53515 LIABILITIES ANp FUND EqUITY LIABILITIES cash OvQrdraft Accounts Payable salaries Payable expired Grant Balances Payable Deferred Revenue General Obligation Bonds Payable Total liabilities FUND EqUITY Fund Balances Reserved For Bus Replacement Funds For Debt service For Endowment Corpus For expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food Unreserved Designated for Banquet Fund Undesignated Total Fund Equity $ 167.382,54 52,602.95 175,443.58 458,79 119,46 $ 396.007.32 $ 124,919,43 $ 193.535,15 $ 1,107.642.40 $ 1,232.561 83 $ 27.912.17 13,42307 17.496.87 70078 59,532,89 $ 0,00 193.535.15 TotalllabRibes and Fund Equity $ 1.2321561,83 $ The notes to the general-purpose financial statements are an Integral part of this statement, -2- 455,540.21 $ 193.535.15 EXHIBIT "A" FIDUCIARY FUND TYPES TRUST FUNDS $ 5,098.02 13.316.84 ACCOUNT GROUP GENERAL LONG-TERM DEBT TOTALS (Memorandum Only) JUNE 30, 2002 JUNE 30, 2001 $ 1,145,558.61 $ 1,639,512.23 115.213.02 109.871.81 597.945.18 416.836.63 $ 193.535.15 46,464.85 27.912.17 13,423.07 193,535.15 46,464.85 26,801.96 18.338.94 184.320.29 290,67971 $ 18,41486 $ 240.000.00 $ $ 167.382.54 52.602.95 $ 52.157.21 175.443.58 162.324.76 458.79 119.46 $ 240.000.00 240,000.00 475,00000 $ 240,000.00 $ 636.007.32 $ 689,481.97 $ 13,04040 5,374.46 $ 18,414.86 $ 124.919.43 $ 224.316.08 193.535.15 184,320.29 13,040.40 12.638.41 388.59 27.912.17 13.42307 26.801.96 18.338.94 17.496.87 1,113,717.84 27.947.86 1,502,127.47 $ 1,504,044 73 $ 1.996,879.60 $ 18,414.86 $ 240,000.00 $ 2,140,052.05 $ 2,686,361.57 - 3- WILKES COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND 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 Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Capital Outlay Debt Service Pnncipal Interest Total Expenditures Excess of Revenues over (under) Expenditures FUND BALANCE JULY 1 Food Inventory - Net Change in Period Donated CommodrtJes Purchased Food GENERAL FUND GOVERNMENTAL FUND TYPES SPECIAL DEBT REVENUE SERVICE FUND FUND $ 7,909,418.61 $ 3,486,904.37 62,705,49 $ 11 ,459,02847 $ 618,795,87 1,579,249,60 $ 273,610.93 2,471 ,656 40 $ 257,83949 4,47912 262,31861 $ 7,821,62501 $ 1,282,824 11 459,20502 206,433.96 291,901,32 231,650.43 854,251,34 131,91013 979,365,53 819,990,04 78,683.97 42,15633 73,067,82 120,138.15 23,603.91 27,22417 2,000.00 41,224,80 941,99929 $ $ 11 ,917,17308 $ $ -458,144,61 $ 1,690,70644 2,512,082.25 $ -40,425.85 $ 103,764,40 1,110.21 -4,915.87 235,000.00 18,103.75 253,10375 9,214,86 184,320.29 FUND BALANCE JUNE 30 $ 1,232,561,83 $ 59,532,89 $ =--==...1.9..3.1Oi,5=35iioa::::i15= The notes to the general-purpose finanCIal statements are an integral part of thiS statement -4- EXHIBIT"B" TOTAL FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND TOTALS (Memorandum Only) YEAR ENDED JUNE 3D, 2002 JUNE 3D, 2001 $ 8,528,21448 1,579,249.60 3,744,743.86 340,795.54 $ $ 14,193,003.48 $ $ 12440 12440 $ 8,528,214.48 $ 1,579,249 60 3,744,743.86 340,919.94 14,193,127.88 $ 8,731,182.31 1,547,508.57 3,762,398.55 426.470.61 14.467,560.04 $ 9,104,449.12 532,272.84 $ 326,57211 291,901.32 255,254.34 854,251.34 131,910.13 1,006,589.70 821,990.04 41,224.80 78,683.97 941,999.29 42,156.33 235,000.00 18,103.75 $ 14,682,35908 $ $ -489,355.60 $ 1,978,791.13 1,110.21 -4,915.87 $ 1,485,629.87 $ $ 200.00 200.00 $ -75.60 $ 2,392.44 9,104,449.12 $ 532,472.84 326,572.11 291,901.32 255,254.34 854,251.34 131,910.13 1,006,589.70 821,990.04 41,224.80 78,683.97 941,999.29 42,156.33 235,000.00 18,103.75 14,682,559.08 $ -489,431.20 $ 1,981,183.57 8,821,963.21 555,543.35 284,047.52 283,254.29 253,260.74 940,717.22 97,713.91 987,752.63 667,931.94 39,844.59 47,291.14 963,080.75 116,548.72 225,000.00 27,517 50 14,311,467 51 156,092.53 1,819,861.27 1,110.21 -4,915.87 53521 4,694 56 2,316.84 $ 1.487,946 71 $ 1'1,;;,98;;,;1.1,;,;;;8,;;,3~57~ -5- WILKES COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES ANp CHANGES IN FUND BALANCES BUDGET AND ACTUAL - (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2002 EXHIBIT"C" GENERAL FUND BUDGET ACTUAL REVENUES State Funds Federal Funds Taxes Other Funds $ 7,703,84200 $ 7,909,41861 3,383,41800 65,00000 3,486,904,37 62,70549 Total Revenues $ 11,152,26000 $ 11 ,459,028 47 EXPENDITURES Current InslruclJon Support SelVlces Pupil Services Improvement of InstruetJonal Services Educaltonal Media SelVlceS General Administration School Admlnls1ratlon Business Adminlstralton Maintenance and Operalton of Plant Student Transportalton SelVlces Central Support Services Other Support services Food Services Operation Capital Outlay $ 7,806,981,00 $ 7,821,625.01 512,539,00 233,158.00 285,997.00 244,754 00 820,890.00 146,229.00 913,216.00 820,271.00 459,205.02 206,433,96 291,901.32 231,65043 854,251.34 131,910,13 979,365.53 819,990.04 42,451,00 120,00 116,500.00 78,68397 42,156 33 Total Expenditures Excess of Revenues over (under) Expenditures $ 11.943,106.00 $ 11.917,17308 $ -790,846.00 $ -458,144,61 FUND BALANCE JULY 1, 2001 1,518,273.00 1,690,706.44 Adjustments Food Inventory - Net Change In Panod Donated Commodities Purchased Food -13,287.00 FUNp BALANCE JUNE 30. 2002 $ 714114000 $ U32,561.83, SPECIAL REVENUE FUND BUDGET ACTUAL $ 604,822.00 $ 618,79587 1,578,915 00 1,579,249.60 205,84100 273,61093 $ 2,389,578,00 $ 2,471 ,656 40 $ 1,340,536.00 $ 1,282,824,11 59,942.00 145,425.00 73,067,82 120,138,15 25,312,00 23.603,91 27,163.00 2,986.00 43,156.00 845,725.00 27,224.17 2,000.00 41,224.80 941,999.29 $ 2,490,245 00 $ 2,512,082 25 $ -100,667.00 $ -40,425.85 87,520.00 103,764.40 68,304.00 1,110,21 -4,915.87 $ 55,157,00 $ 59,532.89 The notes to the general-purpose finandal statements are an Integral part of tt'llS statement. -7- WILKES COUNTY BOARD OF EDUCATION EXHIBIT "D" COMBINED STATEMENT. OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES FIDUCIARY,FUNDJITYPE .:NOl'JEXPENEJABLE TRUST FUNDS Y-EAR ~Nl;)gD JUNE 30, 2002 FUND,BALANCE JUNE 30 $ 13,945,73 $ 2,152,29 $ 16,098,02 $ ..-....1.5ii:!..,6.96..-.=,03-. The notes to the general-purpose finanCIal statements are an integral part of this statement. -8- WILKES COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF CASH FLOWS FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS YEAR ENDED JUNE 30, 2002 EXHIBIT"E" Cash Flows from Operating AclJvltles, Cash Paid for Awards Cash Flows from Investing AclJvitJes: Interest Received on Investments Net Increase (Decrease) In Cash WILLIS LINDSEY AWARD FUND MITCHELL WILLINGHAM SCHOLARSHIP FUND TOTALS (Memorandum Only) YEAR ENDED JUNE 30, 2002 JUNE 30, 2001 $ -200,00 $ 0,00 $ -20000 $ -200,00 57170 $ 37170 $ 30.29 30.29 $ 601,99 40199 $ 721.09 521,09 Cash and Cash Equivalents - July 1 3,574,03 1,12200 4,69603 4,174.94 Cash and Cash EqUivalents - June 30 $ 3,94573 $ 1,15229 $ 5,09802 $ ...........4../,;,6=9.6.0;;;,;3= The notes to the general-purpose finanCial statements are an integral part of this statement -9- WILKES COUNTY BOARD OF EDUCAnON EXHIDIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS JUNE 30, 2002 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES REPORTING ENTITY The Wilkes County Board ofEducation (School District) was established under the laws ofthe State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board, The School District is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subjec~ to approval by any other entity. Accordingly, the School District is a primary government and consists of all the organizations that compose its legal entity. FUND ACCOUNTING The School District uses funds and an account group to report on its financial position and the results ofits 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 fmancial 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 School District. To confonn to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements, To confonn to generally accepted accounting principles, these accounts should be recorded in the general-purpose financial statements. The general-purpose financial statements account for all State, Federal, Taxes and Other funds under control of the School District, 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 the School District's educational activities. Governmental Fund Types include: GENERAL FUND - the fund used to account for all financial resources of the School District except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. - 11 - WILKES COUNTY BOARD OF EDUCAnON EXHmIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS JUNE 30. 2002 Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specified purposes. These funds are received primarily from the Georgia Department ofEducation and from the Federal government to accomplish specific educational objectives. 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 TYPES - the funds used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. These funds include: NONEXPENDABLE TRUST FUNDS Willis Lindsey Award Fund - the fund used to account for an endowment ofwhich the corpus is to be invested with up to 75% of the resultant income to be used to provide awards to the High School Valedictorian and Salutatorian each year and the balance ofthe interest to be added to the corpus. Mitchell Willingham Scholarship Fund - the fund used to account for an endowment ofwhich the corpus is to be invested with up to 75% ofthe resultant income to be used to provide awards t6 High School honor students for future education and the balance of the interest earned to be added to tb.e corpus. EXPENDABLE TRUST FUND Josh Scoggins Scholarship Fund - the fund used to provide scholarships to athletes attending post secondary institutions. ACCOUNT GROUP GENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for general obligation debt outstanding. BASIS OF ACCOUNTING The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental and expendable trust funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements ofthese funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. - 12- WILKES COUNTY BOARD OF EDUCAnON EXHIDIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS JUNE 30, 2002 Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Liabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. All nonexpendable trust funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and liabilities associated with the operation ofthese funds are included on the balance sheet. Operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. Governmental and expendable trust 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. The School District considers receivables collected within sixty days after yearend to be available. Property taxes and interest are considered to be susceptible to accrual. Nonexchange transactions, in which the School District gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, intergovernmental grants and donations. Revenue for property taxes is recognized in the fiscal year for which the taxes are levied. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied, 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 2002, a substantial number ofpersonnel ofthe School District were employed for a one hundred and ninety day period beginning in August 2001 and ending in early June 2002. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 2001 and ending in August 2002. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the School District in the same twelve months. As of June 30, 2002, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 2002, had not been made. Payments for these two months were made and recorded as expenditures by the School District subsequent to June 30,2002. Also, the State's portion ofthe compensation paid in July and August 2002 was received and recorded as revenue in the fiscal year subsequent to June 30, 2002. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 2001, were recorded in the year ended June 30, 2002. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. - 13- ----------------- ---- -- --------------------- WILKES COUNTY BOARD OF EDUCAnON EXHmIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS JUNE 30. 2002 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accrual basis ofaccounting, 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 Wilkes County Board ofEducation's budget is a complete financial plan for the School District's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure ofthe budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. The budget process begins when the School District's administration prepares a tentative budget for the Board's approval. After approval ofthis tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167(c), to the Georgia Department of Education. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. CASH AND CASH EQUIVALENTS COMPOSITION OF DEPOSITS Cash and cash equivalents consist ofcash on hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition in authorized financial institutions. Georgia Laws OCGA 45-8-14 authorize the School District to deposit its funds in one or more solvent banks or insured Federal savings and loan associations. INVESTMENTS COMPOSITION OF INVESTMENTS Investments made by the School District in nonparticipating interest-earning contracts (such as certificates ofdeposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase ofone year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code ofGeorgia Annotated Section 36-83-4 authorizes the School District to invest its funds and in selecting among options for investment or among institutional bids for deposits, the highest rate ofreturn shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following: . - 14- WILKES COUNTY BOARD OF EDUCAnON EXHIBIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS JUNE 30, 2002 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (1) Obligations issued by the State of Georgia or by other states, (2) Obligations issued by the United States government, , (3) Obligations fully insured or guaranteed by the United States government or a United States government agency, (4) Obligations of any corporation of the United States government, (5) Prime banker's acceptances, (6) The Local Government Investment Pool administered by the State ofGeorgia, Office of Treasury and Fiscal Services, (7) Repurchase agreements, and (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 Wilkes County Board ofCommissioners fixed the property tax levy for the 2001 tax digest year (calendar year) on November 8, 2001 (levy date). Taxes were due on January 4,2002 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2001 tax digest are reported as revenue in fiscal year 2002. The Wilkes County Tax Commissioner bills and collects the property taxes for the School District, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the School District. Property tax revenues during the fiscal year ended June 30, 2002 for maintenance and operations amounted to $3,414,832.48 and for school bonds amounted to $255,103.93. Tax millage rates levied for the 2001 tax year (calendar year) for the Wilkes County Board of Education were as follows (a mill equals $1 per thousand dollars of assessed value): School Operations School Bonds 13,02 mills --:2Q mills ~mills - 15 - - - - - - - - - - - - - - - - - - - - - - - ------------~=====~~-- WILKES COUNTY BOARD OF EDUCATION EXHffiIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS JUNE 30. 2002 Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES INVENTORIES FOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time ofpurchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which indicates that these amounts do not constitute "available spendable resources" even though they are a component of net current assets. GENERAL OBLIGATION BONDS The School District issues general obligation bonds to provide funds for the acquisition and construction ofmajor capital facilities. Bond premiums and discounts, as well as issuance costs, are recognized in the financial statements during the year bonds are issued. In addition, general obligation bonds have been issued to refund existing general obligation bonds. General obligation bonds are direct obligations and pledge the full faith and credit ofthe government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group. INTERFUND TRANSACTIONS The School District has the following type of interfund transactions: Reimbursements of expenditures/expenses initially made from a fund that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed. MEMORANDUM ONLY - TOTAL COLUMNS Total columns on the general-purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results ofoperations or cash flows in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this 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 time in any depository for a time longer than ten days a sum ofmoney which has not - 16- WILKES COUNTY BOARD OF EDUCAfJON EXHffiIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS JUNE 30, 2002 Note 2: DEPOSITS been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value of securities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. Ifa depository elects the pooled method (OCGA 45-8-13,1) the aggregate ofthe market value ofthe securities pledged to secure a pool ofpublic funds shall be not less than 110 percent ofthe daily pool balance. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion, waive the requirement for security in the case ofoperating funds placed in demand deposit checking accounts. Acceptable security for deposits consists of anyone of or any combination of the following: (1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, (2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, (3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, (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 ofthe State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, (6) Industrial revenue bonds and bonds ofdevelopment authorities created by the laws ofthe State of Georgia, and (7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. CATEGORIZATION OF DEPOSITS At June 30, 2002, the bank balances were $1,828,512.48. The amounts ofthe total bank balances are classified into three categories of credit risk: - 17 - --------------------------- ---~==------ WILKES COUNTY BOARD OF EDUCAnON EXHffiIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS JUNE 30, 2002 Note 2: DEPOSITS Category I - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the School District or by the School District's agent in the School District's name. Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the School District'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 School District's name.) The School District's deposits are classified by risk category at June 30, 2002, as follows: Risk Category Bank Balance I $ 285,398, 10 2 1,543,114.38 3 0.00 Total $ 1.828.512.48 Note 3: NON-MONETARY TRANSACTIONS The School District receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs, These commodities are recorded at their Federally assigned value, See Note 1 - Inventories Note 4: RISK MANAGEMENT The School District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; acts of God and unemployment compensation, The School District has obtained commercial insurance for risk ofloss associated with torts, assets, errors or omissions, job related illness or injuries to employees and flood. The School District has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the School District's insurance coverage in any of the past three years, The School District has elected to self-insure for all losses related to acts ofGod, with the exception ofthe limited coverage for flood. The School District has not experienced any losses related to this risk in the past three years. - 18 - '. WILKES COUNTY BOARD OF EDUCAlION EXHmIT "F" NOTES TO TIlE GENERAL-PURPOSE FINANCIAL STATEMENTS JUNE 30. 2002 Note 4: RISK MANAGEMENT The School District is self-insured with regard to unemployment compensation claims. The School District accounts for claims within the same fund that the employee's salary and benefits were paid. Claims are accounted for with expenditure and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. Changes in the unemployment compensation claims liability during the last two fiscal years are as follows: Beginning of Year Liability Claims and Changes in Estimates Claims Paid End of Year Liability 2001 2002 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 5.590.94 $ 5.590.94 $ 0.00 The School District has purchased surety bonds to provide additional insurance coverage as follows: Position Covered Amount Superintendent . All Employees $ 50,000.00 $ 25,000.00 Note 5: GENERAL LONG-TERM DEBT GENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are as follows: Purpose Interest Rates Amount General Government - Refunding - Series 1993 2.75% - 4.40% $ 240,000.00 The changes in General Long-Term Debt during the fiscal year ended June 30, 2002, were as follows: Balance July 1,2001 General Obligation Bonds $ 475,000.00 Deductions Debt Retired Balance June 30, 2002 235,000.00 $ 240,000.00 - 19- WILKES COUNTY BOARD OF EDUCATION EXHffiIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS JUNE 30, 2002 Note 5: GENERAL LONG-TERM DEBT At June 30, 2002, payments due by fiscal year which includes principal and interest for these items are as follows: Fiscal Year Ended June 30 General Obligation Bonds 2003 2004 $ 125,280.00 122,640.00 Total Principal and Interest $ 247,920.00 Note 6: ON-BEHALF PAYMENTS The School District has recognized revenues and expenditures in the amount of $181,119.86 for health insurance and retirement contributions paid on the School District's behalf by the following State Agencies. Georgia Department of Education Paid to the Georgia Department of Community Health For Health Insurance of Non-Certified Personnel In the amount of$157,991.86 Office of Treasury and Fiscal Services Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost In the amount of$23,128.00 Note 7: CONTINGENT LIABILITIES Amounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The School District believes that such disallowances, if any, will be immaterial to its overall financial position, Note 8: RETIREMENT PLANS TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) TRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school districts are covered by the Teachers Retirement System ofGeorgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan, TRS provides service retirement, disability retirement and - 20- WILKES COUNTY BOARD OF EDUCAnON EXHffiIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS JUNE 30, 2002 Note 8: RETIREMENT PLANS survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. TRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe School District who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The School District makes monthly employer contributions to TRS at rates adopted by the TRS Board ofTrustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 9.24% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: Fiscal Year Percentage Contributed Required Contribution 2002 2001 2000 100% 100% 100% $ 730,379.12 $ 856,937.82 $ 829,594.05 - 21 - ASSETS Cash and Cash Equivalents Investments Accounts Receivable Inventories Food Donated Commodities Purchased Food Total Assets - - - - - ------ --- - -----~===------- WILKES COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 2002 SCHOOL FOOD SERVICES FUND LOTTERY PROGRAMS $ 40,487.02 $ 101,896.18 18,003.91 27,912,17 13,42307 $ 143,23142 $ ......._,;;,;58:;j,A_9~0=93:;;., Total Uabihties and Fund Equity See notes to the general-purpose finanCIal statements, -22 - $ 143,23142 $ _ _..5...8..A...9..0.,.-9.3.. EXHIBIT"G" FEDERAL PROGRAMS TOTALS JUNE 30, 2002 JUNE 30, 2001 $ 40,48702 $ 63,905.56 101,89618 96,479.37 $ 294,304.88 312,308.79 156,357.06 27,912.17 13,423.07 26,801.96 18,33894 $ 294,304 88 $ 496,027.23 $ _.......3..6.1.,8;;,;;;8.2..-89-. $ 188,811.69 $ 207,869.56 $ 43.636.52 23,083.47 52,602.95 52,157.21 81,95093 175,443.58 162,324.76 458.79 458.79 11946 $ 294,304.88 $ 436,494.34 $ 258,118.49 $ 27,912.17 $ 26,801.96 13,423.07 18,338.94 17,496.87 27,947.86 $ 0.00 700.78 30,675.64 $ 000 $ 59,532.89 $ 103,76440 $ 496.02723 $ 3.6.1_..88..2.8..9-. -23 - -- - -- - -----~====~-------- WILKES 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 Instructional Services General Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Food Services Operation Total Expenditures Excess of Revenues over (under) Expenditures FUND BALANCE JULY 1 Food Inventory - Net Change in Period Donated Commodities Purchased Food SCHOOL FOOD SERVICES FUND LOTTERY PROGRAMS $ 56.898.00 $ 561.897.87 571.064.51 273.610.93 $ 901,573.44 $ 561,897.87 $ 467.223.14 55.881.43 123.25 9,445.88 27,224.17 2.000.00 $ 941,999.29 $ 941.999.29 $ 561.897.87 $ -40.425.85 $ 0.00 103,764.40 0.00 1.110.21 -4,915.87 FUND BALANCE JUNE 30 $ 59.532.89 $ -==......==0;,;.=00= See notes to the general-purpose financial statements. - 24- EXHIBIT "H" FEDERAL PROGRAMS TOTALS YEAR ENDED JUNE 30, 2002 JUNE 30, 2001 $ 618,795.87 $ 651,760.11 $ 1,008,185.09 1,579,249.60 1,547,508.57 273,610.93 304,024.91 $ 1,008,185.09 $ 2,471,656.40 $ 2,503,293.59 $ 815,600.97 $ 1,282,824.11 $ 1,335,003.63 17,186.39 120,014.90 14,158.03 41,224.80 73,067.82 120,138.15 23,603.91 27,224.17 2,000.00 41,224.80 941,999.29 61,148.90 116.178.12 16,602.82 30,789.37 5,700.99 32,540.34 958,580.75 $ 1,008,185.09 $ 2,512,082.25 $ 2,556,544.92 $ 0.00 $ -40,425.85 $ -53,251.33 0.00 103.764.40 151,785.96 1,110.21 -4.915.87 535.21 4,694.56 $ 0.00 $ 59,532.89 $_......,,1..0..3!::io,7.6.4...4..0;:... - 25- WILKES COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET FIDUCIARY FUND TYPES JUNE 30, 2002 ASSETS Cash and Cash EqUivalents Investments NONEXPENDABLE TRUST FUNDS ENDOWMENT FUNDS WILLIS MITCHELL LINDSEY WILLINGHAM AWARD SCHOLARSHIP $ 3,945,73 $ 1,152.29 10,000,00 1,000.00 Total Assets $ 13,945,73 $ =====-_2=,1=52=:,=29= FUND EQUITY Fund Balances Reserved For Endowment Corpus Unreserved Undeslgnated $ 11,59348 $ 2,35225 1,446.92 705,37 Total Fund Equity $ 13,945,73 $=_===2"",,1=52=:.2=:9.... See notes to the general-purpose financial statements, - 26- EXHIBIT "I" EXPENDABLE TRUST FUND JOSH SCOGGINS SCHOLARSHIP TOTALS JUNE 30, 2002 JUNE 30, 2001 $ 5,098.02 $ 4,696.03 $ -=2:1,,;:,3;..;.16,;;..;..;:;.84.:.... 13,316.84 13,39244 $ 18,41486 $===1;,;;8===,0=88=:.=47= $ 13,040.40 $ 12,638.41 $ -.,;2::.1,..;:;.31..:..;6:.;..8::;..4;.... 5,37446 5,450.06 $ 2,316.84 $ 18,414.86 $ 1;,;8,1;;,0.,88;,;,.4,.;;.7 . - 27- - - - - - - - - - - - - - - - - - - - - ----- -- ---- WILKES COUNTY BOARP OF EPUCATION SCHEPULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED JUNE 30, 2002 SCHEDULE "1" FUNDING AGENCY pROGRAM/GRANT Agncullure, U S Department of Child NutnbOn Cluster Pass-Through From Georgia Department of Educabon Food and Nutrtbon Program Food SeIVlCeS School Breakfast Program Nabonal School Lunch Program Total Child Nutribon Cluster Other Programs Pass-Through From Georgia Department of EducabOn Food and Nutnbon Program Food Dlstnbubon Program (1) Pass-Through From Office of School Readiness Food and NutnbOn Program Child and Adult care Food Program Total U S Department of Agncullure Corporabon tor Nabonal and Community Service Pass-Through From Georgia Department of EducabOn Leam and Serve Amenca School and Community Based Programs Educabon, U, S, Department of Speasl Educabon Cluster PassThrough From GeorgI8 Department of EducabOn , Ind,viduals with Disabilities Educabon Ad Pltrt B Special Educabon FlaN Through Preschool Special Education capacity Building Improvement Grant Total Speaal Educabon Cluster Other Programs Pass-Through From Georgia Department of Educabon Elementary end Secondary Education Act Title I Grants to Local Educabonal Agenaes TlUe II Eisenhower Professional Development TlUe III Technology Uterecy Challenge Fund Grants TrtleVl Innovabve Educabon Program StreteglBS Class SIZE! Reduction Goals 2000 State and Local Education Systemic Improvement Grants sate and Drug-Free Schools and Communrbes Vocabonal Educabon BaSIC Grants to States High School Program Basic Grant Total U. S, Department of Educabon CFDA NUMBER PASSTHROUGH ENTITY 10 NUMBER FEDERAL REVENUE IN PERIOD EXPENDITURES IN PERIOD . 10553 . 10555 NlA $ 138,817 42 N/A 385,01048 $ $ 523,827,90 $ (2) 901,09325 991,09325 10550 10,558 NlA 40,90894 N/A 6,33057 $ 571,064 51 $ 40.996 94 (2) 941,99929 94094 NlA $ 7,55769 $ 7,55769 64027 64173 64173 NlA $ 195,24146 $ NlA 14,058,26 NlA 5,734 00 $ 215,033,72 $ 195,24146 14,05826 5,734 00 215,03372 64 010 64 281 64 318 64,298 64_340 64.276 64186 64 948 NlA 445,27868 445,27868 NlA 17,50000 17,50000 NlA 125,00000 125,000,00 N/A 18,391,00 18,39100 NlA 70,617,00 70,61700 NlA 50,00000 50,000,00 NlA 7,64500 7,64500 NlA 51,16200 51,16200 $ 1,000,627 40 $ 1,000,62740 Total Federal Financial Aaslstance = NlA Not Available 28 $ , ,579,249 60 $ ',950.164 36 WILKES COUNTY BOARP OF EPUCATION SCHEPULE OF EXPENPITURES OF FEPERAL AWARPS YEAR ENDEp JUNE 30 2002 Notes 10 the Schedule of Expenditures of Federal Awards (1) The amounts shown for !he Food DlStnbulJon Program represents the Federally assigned value of nonmonetary assistance lor donated commodllJes receiVed and/or consumed by the system during the current fiscal year (2) Expenditures lor the Child and Adult Care Food Progrem and the School Breakfast Program were not maintained separately and are Included In the 2002 NalJonal School Lunch Program Major Programs are Identified by an astensk (*) In front of the CFDA number The School Dlstrtct did not provide Federal Asslstance to any SubreClplenL The aa:ompanylOg schedule of expenditures of Federal awards Includes the Federal grant aetJVily of the WIlkes County Board of EducalJOn and IS preserlled on the modified accrual basiS of accounlJog wluch IS the baSIS of accounlJng used In the presentation of the general-purpose f1nanaal statements SCHEDULE "1" see notes to the general-purpose financial statements 29 WILKES COUNTy BOARP OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENpED JUNE 30. 2002 SCHEDULE "2" AGENCY/fUNpING GRANTS Educabon, Georgia Department 01 Quahty BasIc Educabon Direct Instructional Cost Kindergarten Program Kindergarten Program Early Intervenbon Program Pnmary Grades (13) Program Pnmary Grades - Early Intervenbon (1-3) Program Upper Elementary Grades (45) Program Upper Elementary Grades Early Intervention (45) Program Middle School (6-8) Program High School General Education (912) Program 20-Days AddrtJonal Instruchon Vocational Laboratory (9-12) Program Students with Dlsablhbes Category I Category II Category III Category IV Category V Gifted Student - Category VI Remedl3l Educabon Program Allemabve Educabon Program Media Center Program Staff and ProfeSSional Development Indirect Cost Categoncal Grants Pupil Transportabon Regular Bus Replacement Sparsity Nursing Services PnnClpal Supplements Vocational Supervisors Mldterm Adjustment HoldHarmless Educabon Equahzabon Funding Grant Food ServiceS VocabonalEducabon Other State Programs Health Insurance Indirect Cost Schools of Excellence Nabonal Teacher Certlflcation Outdoor Classrooms Post Secondary Opbons Preschool Handicapped Program StatewJde K3 Reading Program Statewtde 48 After School Program Lottery Programs AsslSbve Technology Computers ,n the Classroom Post Secondary Opbons Office of School Readiness Pre-Kindergarten Progrem Office of Treasury and Fiscal Services Pubhc SChool Employees Retirement See notes to the general-purpose finanCIal statements 31 GOVERNMENTAL FUND TYPES SPECIAL GENERAL REVENUE FUND FUND TOTAL $ 321,80200 142,50800 872,06200 260,75100 473,50600 71,17200 819,83000 644,57300 46,62900 369,161 00 15,231.00 240,751 00 345,72200 13,84100 1,69900 76,29700 105,72400 65,62600 151,02000 28,734 00 1,113,95600 $ 321,80200 142,508.00 672,06200 260,751 00 473,50600 71,17200 819,83000 644,57300 46,62900 369,161 00 15.231 00 240,751 00 345,722 00 13,84100 1,69900 76,29700 105,72400 65,62800 151,02000 28,734 00 1,113,956 00 395,89600 111,46600 20,00000 51,64700 7,17700 15,72300 213,293.00 336,79900 $ 312,877 75 56,89800 157,99186 2,000.00 10,36800 750.00 1,485.00 24,62600 26,50800 17,08600 5,854 00 45,57500 107,06254 395,89600 111,46600 20,00000 51,647.00 7,177 00 15,72300 213,29300 336,79900 56,89800 312,877.75 157,991.86 2,00000 10,36800 75000 1,485.00 24,62600 26,50800 17,08600 5,854 00 45,575.00 107,06254 403,40633 403,406 33 23,12800 23,12800 $ 71909A1861 S 618?9587 $ 8,528,214 48 -- - - - - - - - WILKES COUNTY BOARD OF EDUCATION GENERAL FUND - aUALITY BASIC'EDUCI\TION PROGRAM (aBEl ALLOTMENTS AND EXPENDITURES - BY PROGRAM . YEAR ENDED JUNE 30. 2002 SCHEDULE "3" DESCRIPTION Direct InstructJonal Programs Kindergarten Program Kindergarten Program-Early Intervenbon Program Primary Grades (1-3) Program Pnmary Grades-Early Intervention (1-3) Program Upper Elementary Grades (4-5) Program Upper Elementary Grades-Early Intervention (4-5) Program Middle School (6-8) Program High School General Education (9-12) Program Vocational Laboratory (9-12) Program Students with Disabllrtles Category I Category II Category III CategOfY IV Gifted Student - Category VI Remedial Education Program Alternative Education Program TOTAL DIRECT INSTRUCTIONAL PROGRAMS Media Center Program Staff and Professional Development ALLOTMENTS FROM GEORGIA DEPARTMENT OF EDUCATION (1) '\ ELIGIBLE aBE PROGRAM COSTS SALARIES OPERATIONS TOTAL $ 379,116.00 $ 422.115.66 $ 9.531.27 $ 431.64693 167,889.00 148,495.31 3,38249 151,877 80 1.027.38000 1,049,218.49 26,190.62 1.075,409 11 307,192.00 361.10179 27,804 64 388,906 43 557.84000 587.51366 26.06907 613.582.73 83,848.00 965,846.00 759,375.00 434,910.00 727.175.00 89,885.00 124.554.00 77.317.00 95,653.24 1,138,523 43 1.055.545 32 461.575.10 273.1n.29 462.187.56 26.868.65 162.226.17 56.754.74 97.401.26 1,283.72 67.167.33 81.980.90 76.058.36 14.378.79 3,108.00 4.732.02 1,497.00 5,094.37 96,936.96 1,205.690.76 1,137.52622 537,63346 14.37879 276.285.29 462,187.56 26.86865 166.958.19 58,251.74 102,495.63 $ 5.702.327.00 $ 6.398,357 67 $ 348,27858 $ 6,746.636.25 177.918.00 33,851.00 239,500.39 16,036.81 47,955.29 28,34349 287.455.68 44,380.30 TOTAL aBE FORMULA FUNDS $ 5.914,096.00 $ 6.653.894.87 $ 424,577.36 $ 7.078.472 23 (1) Comprised of State Funds plus Local Five Mill Share. see notes to the general-purpose financial statements. - 32- WILKES COUNTY BOARD OF EDUCATION GENERAL FUND - aUALITY BASIC EDUCATION PROGRAM