Audit report, City of Carrollton Board of Education, Carroll County, Georgia, year ended June 30, 1995

GA
A<isoo
-RI
E33
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1994-95
STATE OF GEORGIA DEPARTMENT OF AUDITS
254 WASHINGTON STREET ATLANTA. GEORGIA 30334

AUDIT REPORT CITY OF CARROLLTON BOARD OF EDUCATION
CARROLLCOUNTY,GEORGIA YEAR ENDED JUNE 30, 1995

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY - TABLE OF CONTENTS -

Page

SECTION I

FINANCIAL

iNDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

EXHIBITS

GENERAL PURPOSE FINANCIAL STATEMENTS

COMBINED STATEMENTS-OVERVIEW

A

COMBINED BALANCE SHEET

ALL FUND TYPES AND ACCOUNT GROUP

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

3

C

STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

(NON-GAAP BASIS)

GENERAL AND SPECIAL REVENUE FUNDS

4

D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

5

ADDITIONAL FINANCIAL INFORMATION

COMBINING STATEMENTS

SPECIAL REVENUE FUND

E

COMBINING BALANCE SHEET

16

F

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

20

SCHEDULES

I SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

24

2 CASH AND CASH EQUIVALENTS

26

3 ACCOUNTS RECEIVABLE

27

SCHEDULE OF REVENUE

4

STATE

28

5

LOCAL AND OTHER

29

SCHEDULE OF EXPENDITURES BY OBJECT

6

GOVERNMENTAL FUND TYPES

30

7

LOTTERY PROGRAMS

31

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY - TABLE OF CONTENTS -

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

8

OVERALL

33

9

BYPROGRAM

34

10 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS

36

SECTION II
COMPLIANCE
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
SINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS

SECTION III
INTERNAL CONTROL
REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY - TABLE OF CONTENTS -
SECTIONN FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS

SECTION I FINANCIAL

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 31, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe City ofCarrollton Board ofEducation
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
Ladies and Gentlemen:
We have audited the general purpose financial statements (Exhibits A through D) of the City of Carrollton Board of Education, as of and for the year ended June 30, 1995, as listed in the table of contents. These financial statements are the responsibility of the Board's management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows:
* The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles.
95ARL-13*

* 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 aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material.
In our opinion, except for the effects on the general purpose financial statements ofthe matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the City of Carrollton Board of Education as of June 30, 1995, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. In accordance with Government Auditing Standards, we have also issued a report dated May 31, 1996, on our consideration of the Board's internal control structure and a report dated May 31, 1996, on its compliance with laws and regulations.
Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements ofthe City ofCarrollton Board ofEducation taken as a whole. The combining statements (Exhibits E and F) and the financial schedules (Schedules 1 through 10 which includes the Schedule of Federal Financial Assistance) are presented for purposes ofadditional analysis and are not a required part of the general purpose financial statements ofthe City ofCarrollton Board of Education. Such information has been subjected to the auditing procedures applied in the audit ofthe general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole.
A copy ofthis report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24.
Respectfully submitted,
ti~~
Claude L. Vickers State Auditor
CLV:gp 95ARL-13*

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY - 1-

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JUNE 3Q, 1995

EXHIBIT"A"

~
Cash and Cash Equivalents
Accounts Receivable
Notes Receivable
Inventories Food Donated Commodities Purchased Food
Amount to be Provided in Future Years For Payment of Capital Lease Agreements

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

$ 2,538,705.24 $

2,741.13

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS
~emorandum On~} JUNE 301 1995 JUNE 301 1994

$ 2,541,446.37 $ 2,847,107.10

1,320,947.63

310,369.55

1,631,317.18

1,416,329.59

100,000.00

100,000.00

200,000.00

21,024.13 8,815.02
$

21,024.13 8,815.02

12,516.73 18,652.51

1,214,744.17 1,214,744.17

1,780,331.55

Total Assets

$ 3,959,652.87 $ 342,949.83 $

1,214,744.17 $ 5,517,346.87 $ 6,274,937.48

1.161;!11.ITIE ANQ E!.!NQ EQ!,!IIY
LIAE!ILl!lli:
Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue Capital Lease Agreements
Total Liabilities
EUNDEQU[[Y
Fund Balances Reserved For Continuation of Federal Programs For Expired Grant Balances/ Questioned Costs For Inventories Food Donated Commodities Purchased Food For School Food Service Equipment
Unreserved Undesignated
Total Fund Equity

$ 352,970.69 $ 1,091,234.48 100,000.00
$ 1,544,205.17 $

12,031.42 102,339.79
155.00
$
114,526.21 $

$ 82,705.81

$
$ 82,705.81 $ 2,332,741.89
$ 2,415,447.70 $

21,024.13 8,815.02 23,575.85
53,415.00
175,008.62
228,423.62

$ 1214744.17

365,002.11 $ 1,193,574.27
155.00 100,000.00 1,214,744.17

1214744.17 $ 2,873,475.55 $

388,815.92 1,169,916.79
2,449.69 200,000.00 1,780,331.55
3,541,513.95

$

$

82,705.81

13,011.53 82,705.81

21,024.13 8,815.02 23,575.85

12,516.73 18,652.51 33,248.11

$ 136,120.81 $ 160,134.69

2,507,750.51

2,573,288.84

$ 2,643,871.32 $ 2,733,423.53

Total Liabilities and Fund Equity

$ 3,959,652.87 $ 342,949.83 $

1,214,744.17 $ 5,517,346.87 $ 6,274,937.48

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

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1995

EXHIBIT B"

REVENUES
State Funds Federal Funds Local and Other Funds
Total Revenues
EXPENDITURES
Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services
Capital Outlay Debt Service
Principal Interest
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES (USES)
Proceeds from Sale of School Property Capital Leases Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
FUND BALANCE JULY 1
Food Inventory - Net Change in Period Donated Commodities Purchased Food

GENERAL FUND

SPECIAL REVENUE
FUND

TOTALS
(Memorandum Onl~ YEAR ENDED
JUNE 3011995 JUNE 3011994

$ 9,493,801.43 $ 71,676.00
611391301.89
$ 15-704-779.32 $

544,383.20 $ 1,249,392.89
511-793.36
213051569.45 $

10,038,184.63 $ 1,321,068.89 61651 1095.25
s 1810101348.n

9,939,370.25 1,484,913.48 614001240.62
1718241524.35

$ 10,207,695.63 $ 819,940.07 $ 11,027,635.70 $ 10,902,692.07

450,328.47 452,391.11 406,750.69 416,236.22 827,879.12
84,783.07 1,298, 113.87
614,023.09 94,030.57
31,166.36 128,311.64 109,584.49

206,390.16 91,122.93
146,433.72
24,605.17 12,000.00 13,315.11 1,085,386.89 11,208.85

656,718.63 543,514.04 406,750.69 562,669.94 827,879.12
84,783.07 1,298, 113.87
638,628.26 106,030.57 13,315.11 1, 116,553.25 139,520.49 109,584.49

483,924.88 426,666.73 399,734.63 588,960.89 866,326.32
89,926.80 1,369,048.81
602,836.82 88,889.29 14,249.56
1,049,309.00 251,434.06 555,715.79

555,528.55 98.360.51

$ 151n51183.39 s

$

-70404.07 $

10,058.83 21925.n
2.423.387.50 $

565,587.38 101.286.28
s 1811ss1570.89

514,005.52 130.854.83
1813341576.00

-117.818.05 $ -1881222.12 $ -5101os1 .65

$

100,000.00

$ -42.583.38

$

571416.62 $

$ 42,583.38
42,583.38 $

100,000.00 $
42,583.38 -421583.38
100,000.00 $

100,000.00 54,763.00
365,597.79 -3651597.79
154-763.00

$

-12,987.45 $

2,428,435.15

-75,234.67 $ 304,988.38

-88,222.12 $ 2,733,423.53

-355,288.65 3,057,542.94

8,507.40 -9,837.49

8,507.40 -91837.49

12,516.73 181652.51

FUND BALANCE JUNE 30

$ 2,415,447.70 $ 228,423.62 $ 2,643,871.32 $ 2,733,423.53

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

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CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY STATEMENT OF REVENUES, EXPE~DITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL - (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30, 1995

EXHIBITc

GENERAL FUND

ACTUAL

(BUDGET

BUDGET

BASIS}

REVENUES

State Funds Federal Funds Local and Other Funds

$ 9,425,823.00 $ 9,493,801.43 71,676.00
6,113,100.00 6,139,301.89

Total Revenues

$ 15,538,923.00 $ 15,704,TT9.32

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 Other Operations of Non-Instructional Services
Capital Outlay Debt Service

$ 10,684,283.00 $ 10,207,695.63

457,168.00 500,412.00 386,368.00 395,219.00 916,057.00
86,446.00 1,429,091.00
935,375.00 n,2so.oo 2,603.00 42,723.00
113,716.00 100,000.00

450,328.47 452,391.11 406,750.69 416,236.22 827,879.12
84,783.07 1 ,298, 113.87
614,023.09 94,030.57
31,166.36 128,311.64 109,584.49 653,889.06

Total Expenditures

$ 16,126,741.00 $ 15,TT5,183.39

Excess of Revenues over (under) Expenditures

$ -587,818.00 $ -70,404.07

OTHER FINANCING SOURCES (USES)

Other Sources Other Uses

$ 100,000.00 $ 100,000.00 -42,583.38

Total Other Financing Sources (Uses)

$ 100,000.00 $

57,416.62

Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -487,818.00 $

-12,987.45

FUND BALANCE JULY 1, 1994

2,689,966.16 2,428,435.15

Adjustments

FUND BALANCE JUNE 30, 1995

$ 2,202,148.16 $ 2,415,447.70

SPECIAL REVENUE FUND

ACTUAL

(BUDGET

BUDGET

BASIS}

$ 229,732.00 $ 544,383.20

963,613.00 1,249,392.89

480,022.00

511,793.36

$ 1,673,367.00 $ 2,305,569.45

$ 411,830.00 $ 819,940.07

1TT,468.00 19,950.00

206,390.16 91,122.93

116,640.00

146,433.72

3,000.00
13,029.00 993,418.00

24,605.17 12,000.00 13,315.11 1,085,386.89 11,208.85

12,984.60

$ 1,735,335.00 $ 2,423,387.50

$ -61,968.00 $ -117,818.05

$ 42,583.38

$ 42,583.38

$ -61,968.00 $ -75,234.67

337,391.80

273,819.14

-15,105.90

$ 260,317.90 $ 198,584.47

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

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995

EXIIlBIT "D"

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City ofCarrollton Board ofEducation (Board) was established under the laws ofthe State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. With the exception ofthe departures from generally accepted accounting principles disclosed in these notes, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards.
The more significant ofthe Board's accounting policies are described below.
REPORTING ENTITY
In evaluating how to define the government unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, "Defining the Financial Reporting Entity". The primary government consists of all the organizations that compose the legal entity of the City of Carrollton Board ofEducation.
Based upon the application of the above criteria, the City of Carrollton Board ofEducation is determined to be the lowest level of government exercising oversight responsibility and control over all activities related to public education in the City of Carrollton, Georgia. The Board is not included in any other governmental "reporting entity" as defined by GASB Codification of Governmental Accounting and Financial Reporting Standards.
Board members were elected by the public and have decision making authority, the power to designate management, the ability to significantly influence operations, and primary accountability for fiscal matters. The Board determines the amount of funding needed to support the school system each year.
FUND ACCOUNTING
The Board uses funds and an account group to report on its :financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities.
A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a :financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources.
General Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types.
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CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995

EXHIBIT "D"

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements.
The general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows:
GOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's general activities. Governmental Fund Types include:
GENERAL FUND - the fund used to account for all financial resources of the Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education.
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 primarily received from the~ Georgia Department ofEducation and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund; however, the Board chooses not to provide for depreciation, but to maintain the fund on a modified accrual basis and to report the fund as a special revenue fund under governmental fund types, which is acceptable under generally accepted accounting principles for governmental entities.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for material capital lease obligations.
BASIS OF ACCOUNTING
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources.
Liabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group.
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CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995

EXHIBIT "D"

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Governmental funds are accounted for using the modified accrual basis ofaccounting under which:
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount ofthe transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities ofthe current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Property taxes are considered available if they are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end.
Expenditures are generally recognized when the related fund liability is incurred.
A substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August of 1994 and ending in early June 1995. Employment contracts for these employment periods typically specify that compensation be paid in twelve equal monthly payments beginning in September 1994 and ending in August 1995. State grants to fund the State's share ofthese contracts are disbursed to the Board in the same twelve month period. In accordance with generally accepted accounting principles, salary and fiinge benefit expenditures and the related revenue from the State to fund these contracts are recorded in the fiscal period covered by these financial statements.
BUDGET
The City ofCarrollton Board ofEducation's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level 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.
I
The budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions ofthe Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end.
The Statement ofRevenues, Expenditures and Changes in Fund Balances - Budget and Actual presents actual and budgeted data for the General Fund and Special Revenue Fund. To facilitate comparison with the budget, the following adjustments have been made to actual revenues, expenditures and fund balance as reflected on Exhibit "B" of this report:

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CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995

EXHIBIT "D"

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Excess ofRevenues and Other Sources of Financial Resources over (under) Expenditures and Other Financing Uses
Fund Balance July 1, 1994
Adjustments: Inventories July 1, 1994 Food Donated Commodities Purchased Foods
Fund Balance June 30, 1995 (Budget Basis)
CASH AND CASH EQUIVALENTS

Special Revenue
Fund
$ -75,234.67 304,988.38
-12,516.73 -18,652.51 $ 198,584.47

COMPOSITION OF DEPOSITS Cash and cash equivalents consist ofdeposits (mcluding savings and N.O.W. accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations.

RECEIVABLES

Receivables consist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables.

NOTES RECEIVABLE

On July 31, 1992, the Mayor and City Council ofthe City ofCarrollton and the Board ofEducation of the City of Carrollton resolved to convey school property to the Board of County Commissioners for the County of Carroll for a total consideration of $400,000.00. In fiscal year 1995, a partial payment of$100,000.00 was received. Payment due on the outstanding balance of$100,000.00 is recorded as deferred revenue and will be received by the Board as follows:

FISCAL YEAR ENDING

AMOUNT

June 30, 1996

$ 100,000.00

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CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995

EXHIBIT "D"

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

PROPERTY TAXES

The City of Carrollton City Clerk fixed the property tax levy for the 1994 tax year (calendar year) on September 18, 1994 (levy date). Taxes were due on December 20, 1994. The lien date for property taxes was January 1, 1994. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1995 since their collection meets the criteria of GASB codification section P70. I03. The City of Carrollton Clerk bills and collects the property taxes for the Board ofEducation and remits the taxes collected to the Board.

The tax millage rate levied for the 1994 tax year (calendar year) for the City of Carrollton Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations

18...Q_Q mills

INVENTORIES

FOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost. Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which indicates that these amounts do not constitute "available spendable resources" even though they are a component of net current assets.

INTERFUND TRANSACTIONS

The Board has the following types of interfund transactions:

Reimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed.

Operating transfers are recorded for all interfund transactions other than reimbursements.

MEMORANDUM ONLY - TOTAL COLUMNS

Total columns on the general purpose financial statements are captioned "Memorandum Only" to indicate that
they are presented only to facilitate financial analysis. Data in these columns do not present financial position
or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation ofthis data.

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CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995

EXHIBIT "D"

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 of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate ofthe face value ofsuch surety bond and the market value ofsecurities shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts.
Acceptable security for deposits consists of any one of or any combination of the following:
(I) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations ofthe counties or municipalities ofthe State of Georgia,
(5) Bonds ofany public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use ofthe bonds for this purpose,
(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and
(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.
CATEGORIZATION OF DEPOSITS At June 30, 1995, the bank balances were $3,069,007.83. The amounts of the total bank balances are classified into three categories of credit risk:
Category 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name.
- 10 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995

EXHIBIT "D"

Note 2: DEPOSITS

Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name.
Category 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.)

The Board's deposits are classified by risk category at June 30, 1995, as follows:

Risk Category 1 2 3 Total
Note 3: NON-MONETARY TRANSACTIONS

Bank Balance
$ 122,994.07 0.00
2,946,013.76
$3,069,007 83

The Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories

Note 4: RISK MANAGEMENT

The Board is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illnesses or injuries to employees; natural disaster; and unemployment compensation.

The Board has obtained commercial insurance for risk ofloss associated with torts, assets, errors or omissions, job-related illnesses or injuries to employees, and natural disaster. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years.

The Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the General Fund with expenditures 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 ofYear Liability

Claims and Changes in Estimates

Claims Paid

End of Year Liability

1994

$

0.00 $ 2,651.54 $ 2,651.54 $

0.00

1995

$

0.00 $

824.00 $

824.00 $

0.00

- 11 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995

EXHIBIT "D"

Note 5: GENERAL LONG-TERM DEBT

CAPITAL LEASES The City ofCarrollton Board ofEducation has entered into various lease agreements as lessee for classroom computer equipment and buses. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value ofthe future minimum lease payments as ofthe date oftheir inception.

The changes in General Long-Term Debt during the fiscal year ended June 30, 1995, were as follows:

Capital Leases

Balance July 1, 1994

$ I,780,331.55

Deductions

565,587.38

Balance June 30, 1995

$ 1,214,744.17

At June 30, 1995, payments due, by fiscal year which includes principal and interest for these items are as follows:

Fiscal Year Ended June 30

Capital Leases

1996 1997 1998 1999

$ 679,918.16 525,349.27 104,296.10 2,164.10

Total Principal and Interest

$ 1,311,727.63

Deduct: Imputed Interest

96,983.46

Net Present Value ofFuture Minimum Lease Payments

$ 1,214,744.17

Note 6: CONTINGENT LIABILITIES

Amounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position.

- 12 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995

EXHIBIT "D"

Note 7: RETIREMENT PLANS
TEACHERS RETIREl\fENT SYSTEM OF GEORGIA (TRS)
TRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia {TRS), which is a cost-sharing multiple employer public employee retirement system (PERS).
TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. A member is eligible for service retirement after 30 years of creditable service, regardless ofage, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death.
Retirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death.
Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest.
The Board's payroll for employees covered by TRS for the year ended June 30, 1995, was $9,679,865.11; total payroll was $11,008,595.07.
TRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board ofTrustees in accordance with State statute and as advised by their independent actuary. For fiscal year 1995 that rate for employer contributions was 11.81%. The interest rate assumption (rate of return on investments) was 7.50%.
Total contributions made during fiscal year 1995 amounted to $1,627,186.19, ofwhich $1,143,192.07 was made by the Board and $483,994.12 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll.

- 13 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995

EXHIBIT "D"

Note 7: RETIREMENT PLANS

TRSFUNDINGSTATUSANDPROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salaiy increases. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers.

Total unfunded pension benefit obligation ofTRS as ofJune 30, 1994, was as follows:

Total pension benefit obligation

$15,313,743,000.00

Net assets available for benefits, at cost

14,254,785,000.00

Unfunded pension benefit obligation

$ 1.058.958.000.00

The measurement ofthe total pension benefit obligation is based on an actuarial valuation as of June 30, 1994. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers.

Total contributions from all employers to TRS for fiscal year ended June 30, 1995 were $565,117,811.00.
The Board's contribution for the year ended June 30, 1995 of$1,143,192.07 was actuarially determined and represented .2023% oftotal contributions made by all participating employers.

Ten year historical trend information is presented in the 1995 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due.

PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS)

PSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System of Georgia (PSERS). All employer's contributions are made by the State of Georgia in accordance with State statute.

PSERS provides in accordance with State statute service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years of service and attainment ofage 65. A member applying for service retirement with 10 years of service and retires between

- 14 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995

EXHIBIT "D"

Note 7: RETIREMENT PLANS
the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number ofyears of creditable service. Options are available for distribution ofthe member'smonthly pension at a reduced rate to a designated beneficiary on the member's death.
Retirement provisions include death and disability benefits. Disability benefits are the same as ifthe employee had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent upon the number ofyears of service. Ifthere are less than ten years of service, a lump sum refund ofthe employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life half ofwhat the employee would have received upon retirement.
Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest.
There were 90 employees covered under PSERS for the year ended June 30, 1995.
PSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1995 amounted to $3,052.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1995, was $9,162,000.00.
Note 8: SURETY BONDS
The School Superintendent, Dr. Ronnie Williams, is bonded in the amount of$100,000.00 with the Hartford Fire Insurance Company, Windsor, Connecticut, their Bond No. 4684116, on which premium was paid through June 30, 1996.

- 15 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1995

ASSETS
Cash and Cash Equivalents
Accounts Receivable
Inventories Food Donated Commodities Purchased Food

ELEMENTARY

SCHOOL FOOD
SERVICES FUND

CHAPTER 1

EDUCATION OF EDUCATION OF

CHILDREN IN

DEPRIVED

STATE SCHOOLS

CHILDREN

$ 252,329.69

4,239.76 $

3,335.00 $

171,833.36

21,024.13 8,815.02

Total Assets

$ 286,408.60 $

3,335.00 $

171,833.36,

LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food For School Food Equipment
Unreserved Undesignated
Total Fund Equity

$

$

4,120.63

53,864.35

$ 57,984.98 $

$ 21,024.13 8,815.02
23,575.85
$ 53,415.00
175,008.62 $
$ 228,423.62 $

Total Liabilities and Fund Equity

$ 286,408.60 $

See notes to the general purpose financial statements. -16-

3,180.00 $
155.00 3,335.00 $

136,010.50 3,311.86
32,511.00
171,833.36

0.00 $ 0.00 $

0.00 0.00

---===...- 3,335.00 $

171,833.36

EXHIBIT"E" Page 1

AND SECONDARY EDUCATION ACT
CHAPTER2 BLOCK GRANT - INNOVATIVE FLOW THROUGH PROGRAM

TITLE II EISENHOWER MATHEMATICS FOREIGN AND SCIENCE LANGUAGE EDUCATION ASSISTANCE

FAMILY CONNECTION
FUND

$

0.00 $

0.00

$

0.00

$

11,502.00 $

5,707.73

- - - - - $-=======o.=00_ $_=====0.=o_o $ 11,502.00 $ 5,707.73 $

0.00

$

11,502.00 $

5,707.73

-------- $

11,502.00 $

5,707.73

$

0.00 $

- - - - - 0.00 $

0.00 $

o.oo $ ____o._o_o

$

o.oo $____o._o_o $____o_.o_o $

- - - - - 0.00 $

0.00

------ ---=-=== ----- $

0.00 $

0.00 $

11,502.00 $

5,707.73 $

0.00

-17 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1995

ASSETS
Cash and Cash Equivalents
Accounts Receivable
Inventories Food Donated Commodities Purchased Food
Total Assets
LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food For School Food Equipment
Unreserved Undesignated
Total Fund Equity

LOTTERY PROGRAMS

STATE PRESCHOOL HANDICAPPED
PROGRAM

EDUCATION FOR HOMELESS CHILDREN AND YOUTH

$

0.00 $

0.00

$

4,328.20

$

4,328.20 $

--==---- 0.00 $

0.00

$

4,328.20

$

4,328.20

$

0.00 $

0.00 $

0.00

$

0.00 $

0.00 $

0.00

Total Liabilities and Fund Equity

$

See notes to the general purpose financial statements. - 18 -

4,328.20 $

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

EXHIBIT"E" Page2

COMMUNITY DEVELOPMENT
BLOCK GRANT

INDIVIDUALS WITH

DISABILITIES EDUCATION ACT

TITLE VI, B

FLOW

PRESCHOOL

THROUGH

PROGRAM

TOTALS JUNE 30, 1995 JUNE 30, 1994

$

0.00

$ 252,329.69 $ 324,662.79

$

78,185.04 $

31,238.46

310,369.55

316,090.59

21,024.13 8,815.02

12,516.73 18,652.51

$

0.00 $

78,185.04 $

31,238.46 $ 592,538.39 $ 671,922.62

$

64,242.88 $

24,617.25 $ 249,588.56 $ 190,733.38

3,150.22

1,448.71

12,031.42

77,463.48

10,791.94

5,172.50

102,339.79

96,287.69

155.00

2,449.69

$

78,185.04 $

31,238.46 $ 364,114.77 $ 366,934.24

$

13,011.53

$

21,024.13

8,815.02

23,575.85

12,516.73 18,652.51 33,248.11

$

53,415.00 $

77,428.88

$

0.00 $

0.00 $

0.00

175,008.62

227,559.50

$

0.00 $

0.00 $

0.00 $ 228,423.62 $ 304,988.38

----- $

0.00 $

78,185.04 $

31,238.46 $ 592,538.39 $ 671,922.62

-19-

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
SPECIAL REVENUE FUND YEAR ENDED JUNE 30, 1995

REVENUES
State Funds Federal Funds Local and Other Funds
Total Revenues
EXPENDITURES
Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services
Debt Service Principal Interest
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES (USES}
Capital Leases Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
FUND BALANCE JULY 1
Food Inventory- Net Change in Period Donated Commodities Purchased Food
Residual Equity Transfer

SCHOOL FOOD
SERVICES FUND

ELEMENTARY

CHAPTER 1

EDUCATION OF EDUCATION OF

CHILDREN IN

DEPRIVED

STATE SCHOOLS

CHILDREN

$ 68,128.00 571,787.66 $ 445,266.29
$ 1,085,181.95 $

3,180.00 $

340,634.83

3,180.00 $

340,634.83

$

$

1,038.25

1,084,399.21

930.41 $ 2,249.59

317,895.83

6,680.70
3,852.45 12,000.00
205.85

$ 1,085,437.46 $

$

-255.51 $

3,180.00 $ 0.00 $

340,634.83 0.00

$

-255.51 $

230,009.22

8,507.40 -9,837.49

0.00 $ 0.00

0.00 0.00

FUND BALANCE JUNE 30 See n_otes to the general purpose financial statements.

$ 228,423.62 $ -20-

------ 0.00 $

0.00

EXHIBIT"F" Page 1

AND SECONDARY EDUCATION ACT
CHAPTER2 BLOCK GRANT - INNOVATIVE FLOW THROUGH PROGRAM

TITLEII EISENHOWER MATHEMATICS FOREIGN AND SCIENCE LANGUAGE
EDUCATION ASSISTANCE

FAMILY CONNECTION
FUND

$

20,972.00 $

50,807.00 $

$ _ _....;.;..20--'-,9_7...;;;2.;..;..o.o.... $

50,807.00 $

11,502.00 $ 11,502.00 $

$ 5,707.73
5,707.73 $

30,000.00 66,527.07 96,527.07

$

20,851.36

$

5,707.73

$

71,416.32 $

14,499.73

$ 72,152.01

120.64

47.48

90,610.43

9,155.50

9,858.68

$ _ _ _20__,_,9_7_2_.o_o $

$

0.00 $

71,416.32 $ -20,609.32 $

14,547.21 $

5,707.73 $

-3,045.21 $ _ _ _o_.o_o $

181,TT6.62 -85,249.55

$

10,643.00

$ 23,281.92

$ _ _1_0.._,6_43_._oo_

$ 23,281.92

$

0.00 $

-9,966.32 $

-3,045.21 $

0.00 $ -61,967.63

0.00

9,966.32

3,045.21

0.00

61,967.63

$

0.00 $

----- ----- ----- 0.00 $

0.00 $

0.00 $

0.00

- 21 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES
SPECIAL REVENUE FUND YEAR ENDED JUNE 30. 1995

REVENUES
State Funds Federal Funds Local and Other Funds
Total Revenues
EXPENDITURES
Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services
Debt Service Principal Interest
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES (USES}
Capital Leases Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
FUND BALANCE JULY 1
Food Inventory - Net Change in Period Donated Commodities Purchased Food
Residual Equity Transfer

LOTTERY PROGRAMS

STATE PRESCHOOL HANDICAPPED
PROGRAM

EDUCATION FOR HOMELESS CHILDREN AND YOUTH

$ 406,072.20 $

40,183.00 $

$ 406,072.20 $

40,183.00 $

34,366.00 34,366.00

$ 326, 159.40 $
68,535.04 5,206.88

40,183.00 $

651.75
205.31 987.68

10,058.83 2,925.77
$ 414,730.66 $
$ -8,658.46 $

40,183.00 $ 0.00 $

23,012.07 4,002.00 37.18 7,314.75
34,366.00 0.00

$

8,658.46

$

8,658.46

$

0.00 $

0.00

0.00 $ 0.00

0.00 0.00

FUND BALANCE JUNE 30 See notes to the general purpose financial statements.

$ -22-

0.00 $

------- 0.00 $

0.00

EXHIBIT "F'' Page2

COMMUNITY DEVELOPMENT
BLOCK GRANT

INDIVIDUALS WITH

DISABILITIES EDUCATION ACT

TITLE VI, B

FLOW

PRESCHOOL

THROUGH

PROGRAM

TOTALS YEAR ENDED JUNE 30, 1995 JUNE 30, 1994

$ 544,383.20 $ 697,558.09

$

1,350.17 $ 151,842.04 $

57,243.46

1,249,392.89

1,434,081.48

511,793.36

468,721.64

$

1,350.17 $ 151,842.04 $

57,243.46 $ 2,305,569.45 $ 2,600,361.21

$

74,037.56 $

11,162.71 $ 819,940.07 $ 873,871.42

32,694.61

26,756.91

206,390.16

190,914.82

91,122.93

40,969.30

42,821.00

37,579.15

10,319.89

146,433.72

173,077.50

67,275.11

3,630.72

24,605.17

28,726.08

12,000.00

18,975.64

3,900.00

9,003.95

13,315.11

14,249.56

1,085,386.89 1,017,797.92

$

1,350.17

11,208.85

149,031.23

10,058.83 2,925.77

7,868.83 2,951.67

$

1,350.17 $ 151,842.04 $

57,243.46 $ 2,423,387.50 $ 2,628,530.08

$

0.00 $

0.00 $

0.00 $ -117,818.05 $ -28,168.87

$

0.00 $

0.00

----- $

0.00 $

0.00 $ 0.00

$

54,763.00

$

42,583.38

14,429.18

-0.60

$

42,583.38 $

69,191.58

0.00 $ 0.00

-75,234.67 $ 304,988.38

41,022.71 248,218.67

8,507.40 -9,837.49

12,516.73 18,652.51 -15,422.24

----- 0.00 $

0.00 $ 228,423.62 $ 304,988.38

-23-

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30. 1995

FUNDING AGENCY PROGRAM/GRANT

CFDA NUMBER

AWARDS IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

Agriculture, U.S. Department of Through Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1995Grant National School Lunch Program 1994Grant 1995Grant
Food Distribution Program (1)

10.553 $
* 10.555 * 10.555
10.550

108,633.85 $
393,130.70 70p23.04

108,633.85 $ 108,633.85

(2)

3,829.01 388,891.01 NIA

393,130.n $ 701023.04

1,015,414.42 (3) 701023.04

Total U. S. Department of Agriculture

$ 571?87.59 $

5011353.87 $ 571z787.66 $ 110851437.46

Education, U.S. Department of Direct P. L. 81-874 1995 Grant Through Georgia Department of Education Elementary and Secondary Education Act Chapter 1 Education of Children in State Schools 1994 Carry-Over 1995 Regular Education of Deprived Children 1993 Carry-Over Summer School 1994 Regular 1994 Carry-Over 1995 Regular 1995 Summer School Chapter2 Block Grant - Flow Through 1995 Regular Innovative Programs 1994 Regular 1995 Regular Title II Eisenhower Mathematics and Science Education 1994 Regular 1995 Regular Foreign Languages Assistance 1995 Regular Individuals with Disabilities Education Act TrtleVl,B Flow Through 1993 Carry-Over 1994 Regular 1994 Carry-Over 1995 Regular Preschool Program 1994 Regular 1994 Carry-Over 1995 Regular Vocational Education - Basic Grants to States High School Program Basic Grant 1995 Grant Tech-Prep Education 1995 Grant

84.041 $
84.009 84.009 * 84.010 * 84.010 * 84.010 * 84.010 * 84.010
84.151 84.151 84.151
84.164 84.164 84.249
84.027 84.027 84.027 84.027 84.173 84.173 84.173
84.048 84.243

4,413.00 $
155.00 3,180.00
25,155.00 277,182.00
32,741.00 20,972.00 50,807.00
11,502.00 5,707.73
10,370.00 146,718.00
9,350.00 62,300.00
29,154.00 38,109.00

4,413.00 $

4,413.00

(5)

31,873.28 56,829.00 25,155.00 135,000.00

3,180.00 $
8,646.47
25,155.00 277,182.00
29,651.36

3,180.00
8,646.47
25,155.00 277,182.00
29,651.36

20,972.00 50,807.00

20,972.00 50,807.00

20,972.00
13,916.32 (3) 57,500.00 (3)

11,502.00 5,707.73

3,045.21 11,502.00
5,707.73

1,000.00 12,309.15 73,657.00 11,608.38 26,005.00

10,370.00 141,472.04
9,350.00 47,893.46

10,370.00 141,472.04
9,350.00 47,893.46

29,154.00

29,154.00

(4)

38,109.00

38,109.00

(4)

- 24 -

CITY OF CARROLLTON BOARD Of EDUCATION CARROLL COUNTY
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30, 1995

FUNDING AGENCY
PROGRAM/GRANT

CFDA NUMBER

AWARDS IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

Education, U. S. Department of Through Georgia Department of Education Education for Homeless Children and Youth Grants for State and Local Activities 1994 Grant 1994 Carry-Over Grant 1995 Grant Commission on National Community Service Georgia Service America Project 1995 Summer Grant

84.196 84.196 $ 84.196

s
2,095.00 32,271.00

94.004

-2,094.74 2,095.00 $ 32,271.00

2,095.00 $ 32,271.00

31552.01

2,095.00 32,271.00

Total U.S. Department of Education

$ 7621181.73 $

552,715.08 $ 7471931.06 $

6991909.59

Housing and Urban Development, U.S. Department of Through Georgia Department of Community Affairs Community Development Block Grant Grant Number 92N-X-022-093-002

14.228

$

31,623.00 $

1 350.17 $

1 350.17

Total Federal Financial Assistance

$ 1,333,969.32 $

1,085,691.95 $ 1,321,068.89 $ 1,786,697.22

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

(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year.
(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1995 National School Lunch Program.
(3) Expenditures for this program include State, and/or Local and Other Funds. Expenditures are not maintained by fund source.
(4) Expenditures on this program were not maintained by fund source. (5) Funds earned on this program do not require reporting of expenditures.

See notes to the general purpose financial statements.

- 25 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY CASH AND CASH EQUIVALENTS JUNE 30, 1995

SCHEDULE "2"

INTEREST BEARING ACCOUNTS
Citizens Bank and Trust, Carrollton, Georgia
N.O.W. Accounts (7.28%)
Trust Company Bank, Atlanta, Georgia
Money Market Account (Variable)

$ 2,517,870.52 23,575.85
$ 2,541,446.37

See notes to the general purpose financial statements.
- 26 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY ACCOUNTS RECEIVABLE JUNE 30, 1995

SCHEDULE "3"

Administrative Services, Georgia Department of Distant Learning and Telemedicine Project
City of Carrollton City Clerk City Wide School Tax
Education, Georgia Department of Quality Basic Education Deferred Summer Salaries - FY 1995 Food Services National School Lunch Program Lottery Program Instructional Technology Federal Programs ESEA - Chapter 1 Education of Children in State Schools Education of Deprived Children Title II Eisenhower Mathematics and Science Education Foreign Language Assistance Individuals with Disabilities Education Act Title VI, B Flow Through Preschool Program

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

$

58,842.97

$

58,842.97

51,712.66

51,712.66

1,210,392.00 $

4,239.76 4,328.20

1,210,392.00 4,239.76 4,328.20

3,335.00 171,833.36
11,502.00 5,707.73

3,335.00 171,833.36
11,502.00 5,707.73

78,185.04 31,238.46

78,185.04 31,238.46

$ 1,320,947.63 $

310,369.55 $ 1,631,317.18

See notes to the general purpose financial statements. - 27 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY SCHEDULE OF STATE REVENUE
YEAR ENDED JUNE 30. 1995

SCHEDULE "4"

AGENCY/FUNDING
GRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Middle School Incentive Special Instructional Assistance In-School Suspension Mid-term Adjustment School Counselors Grades 4 and 5 Local Fair Share Deferred Summer Salaries - FY 94
Deferred Summer Salaries - FY 95
Educational Equalization Funding Grant Food Services Vocational Education Other State Programs
Environmental Science Program Family Connection Mentor Teacher Program Next Generation Schools Preschool Handicapped Program Remedial Summer School Program Teacher of the Year Teachers' Retirement Lottery Programs Distant Leaming Instructional Technology Media Center and Library Equipment Pre-Kindergarten Program
CONTRACTS Education, Georgia Department of Leadership Seminar - Georgia Education Leadership Academy
OTHER Administrative Services, Georgia Department of Distant Leaming and Telemedicine Project Education, Georgia Department of Reimbursement for Computer Supplies

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

$ 6,198,940.00 947,378.00 149,553.00 261,788.00 83,091.00
1,781,369.00
190,625.00 57,183.00 236,814.00 229,924.00 70,937.00 268,979.00 19,971.00 -1,654,342.00 -1,097,739.00 1,210,392.00 427,394.00
$ 10,754.00
500.00
4,560.00 1,376.06
4,434.82 2,500.00 19,076.58

$ 6,198,940.00 947,378.00 149,553.00 261,788.00 83,091.00
1,781,369.00

68,128.00

190,625.00 57,183.00
236,814.00 229,924.00
70,937.00 268,979.00
19,971.00 -1,654,342.00 -1,097,739.00 1,210,392.00
427,394.00 68,128.00 10,754.00

30,000.00 40,183.00

500.00 30,000.00 4,560.00
1,376.06 40,183.00
4,434.82 2,500.00 19,076.58

3,300.00 7,895.20 9,679.00 385,198.00

3,300.00 7,895.20 9,679.00 385,198.00

7,500.00
58,842.97 2,000.00

7,500.00
58,842.97 2,000.00

See notes to the general purpose financial statements.

$ 9,493,801.43 $ 544,383.20 $ 10,038,184.63 - 28 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY SCHEDULE OF LOCAL AND OTHER REVENUE YEAR ENDED JUNE 30, 1995

SCHEDULE "5"

Taxes City Wide School Tax
Other Donations Interest Earned Medical Services Georgia Department of Medical Assistance Reimbursements for Salaries Various Sources Rents Sales Breakfast and Lunches Shared Service Carroll County Board of Education Supervision and Assessment of Student and Beginning Teachers and Performance-Based Certification West Georgia College Tuition Other

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

$ 5,476,982.67

$ 5,476,982.67

$
159,698.26

260.00 16,850.66

54,208.12

54,913.41 11,200.00

428,415.63

703.13

260.00 176,548.92
54,208.12
54,913.41 11,200.00
428,415.63
703.13

5,700.00 414,860.99
15,243.43

12,058.95

5,700.00 414,860.99
27,302.38

$ 6,139,301.89 $ 511,793.36 $ 6,651,095.25

See notes to the general purpose financial statements. - 29 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY SCHEDULE OF EXPENDITURES BY OBJECT GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1995

SCHEDULE "6"

EXPENDITURES
Operating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Compensation and Travel of Board Members Water, Sewer and Cleaning Services Repair and Maintenance Services Rents Insurance Communications Tuition Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Other Expenditures
Nonoperating Costs Principal and Interest Land and Land Improvements Building and Building Improvements Equipment

GENERAL FUND

SPECIAL REVENUE
FUND

TOTAL

$ 9,846,890.30 $ 1,161,704.77 $ 11,008,595.07

2,754,021.05

319,794.90

3,073,815.95

119,699.27

15,196.44

134,895.71

89,476.02

108,731.09

198,207.11

27,132.52

271132.52

28,151.15

28,151.15

147,859.75

147,859.75

34,475.83

34,475.83

40,976.05

40,976.05

72,492.75

130.37

72,623.12

82,898.64

82,898.64

3,220.27

3,220.27

20,709.00

20,709.00

19,624.84

24,443.03

44,067.87

689,760.93

170,028.51

859,789.44

474,809.59

83.25

474,892.84

506,615.85

506,615.85

94,297.64

2,146.92

96,444.56

33,209.60

1,218.50

34,428.10

43,950.60

25,785.79

69,736.39

653,889.06 1,000.00
108,579.49 391,279.31

12,984.60
71,303.21

666,873.66
1,000.00
108,579.49 462,582.52

Total Expenditures

$ 15,775,183.39 $ 2,423,387.50 $ 18,198,570.89

See notes to the general purpose financial statements. - 30 -

CITY Of CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY SCHEDULE OF EXPENDITURES BY OBJECT LOTTERY PROGRAMS YEAR ENDED JU~E 30 1995

SCHEDULE7

EXPENDITURES
Operating Costs Salaries Employee Benefits Travel of Employees Communications Other Purchased Services Supplies Energy Books, Textbooks and Periodicals Dues and Fees Other Expenditures
Nonoperating Costs Principal and Interest Equipment

DISTANT LEARNING

INSTRUCTIONAL TECHNOLOGY

MEDIA CENTER
AND LIBRARY
EQUIPMENT

PRE-KINDERGARTEN PROGRAM

TOTAL

$

$

$

3,300.00

12,984.60 3,567.00 $

9,681.06

'2ZT,fi12.00 $ 57,161.26 4,484.55 130.37 4,259.39 56,208.63 83.25 2,146.92 1,218.50 2,402.19

'2Z1 ,572.00 57,161.26 4,484.55 130.37 4,259.39 56,208.63 83.25 2,146.92 1,218.50 2,402.19

29,530.94

12,984.60 46,079.00

Total Expenditures

$

31300.00 $

16551.60 $

9681.06 $

3851198.00 $ 414.730.66

See notes to the general purpose financial statements.

- 31 -

t?::f cu,'-Jc_
~ 3J-

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1995

SCHEDULE "8"

Minimum Expenditure Requirements (Total Allotment)
Expenditures on Combined Program Basis Salaries (1) (2) Operations
Less: Expenditures for Media Center Programs in Excess of Total Media Allotment
Expenditures per Audit

THIRTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

100% TEST FOR OPERATIONS PORTION OF THIRTEEN WEIGHTED PROGRAMS

$ 7z766,640.00 $

2511804.00

$ 8,922,812.56 837,940.66 $ _ ___,;_75;;.;7..i.,4.;.;:6~2,;:;.2;;:;;,.2
$. 9,760,753.22.

-133,301.17 $ 9,627,452.05

Amount of Underexpenditure for Total Allotment

$

o.oo s=====o=.o=o

Note: (1) Salary accruals (July and August 1995 Deferred Salaries) reported as expenditures in the General Purpose Financial Statements are not included on this analysis in order to comply with program guidelines.
(2) Salary accruals (July and August 1994 Deferred Salaries) reported as expenditures in the prior year General Purpose Financial Statements are included on this analysis as required by program guidelines.

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

CITY Of CARROLLTON BOARD Of EDUCATION - CARROLL COUN'TY ANALYSIS Of MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS
YEAR ENDED JUNE 30 1995

GENERAL ANl:,l S:.AREER li;DUCATIQN PROGRAMS Kindergarten (") Grades 1-3 (") S~Total -K-3 Grades 4 - 5 (") Grades 6 - 8 (") Grades 9 -12 (") High School Laboratories (") Vocational Education Laboratories (") Total General and career Education Programs
S~CIAL EDUCATION PROGRAMS Regular Programs Category I (") category II (") category Ill (") Category IV (") Sub-Total - Regular Category V (Gilled) (") Total Special Education Programs
REMEl:,llAL li;l:,lUCATIQN PROGRAM(~ Total Thirteen Weighted Programs
MEDIA CENTER PROGRAMS Salaries Operations Total Media Center Programs
Total Thirteen Weighted and Media Center Programs
STAFF Dli;~fi:LQPMENI PROGRAMS Cost ct Instruction Professional Development
Total Staff Development (") Identifies Thirteen Weighted Programs. (1) Salary accruals (July and August 1995 Deferred
Salaries) reported as expenditures in the General Purpose Financial Statements are not included on this analysis in Older to comply with program guidelines.
See notes to the general purpose financial statements.

ALLOTMEITTS FROM DEPARTMENT OF EDUCATION

REQUIRED

ORIGINAL ..JL

ORIGINAL

MID-TERM

$

682,951.00

$

614,655.90 $

1,696,722.00

1,527,049.80

s s 2,379,673.00 90

2,141,705.70 $

766,566.00 90

689,909.40

1,356,894.00 90

1,221,204.60

164,921.00 90

148,428.90

1,169,482.00 90

1,052,533.80

361404.00 90

325,263.60

s 6,198,940.00

s s 5,579,046.00

~.703.00 n,os1.oo 70,348.00 48,306.00 30,n4.oo 37,444.00 33,227.00 -39,293.00 180,806.00

$

726,065.00

$

653,458.50 $

37,641.00

s

726,065.00 90 $

s 653,458.50

221,313.00 90

199181.70

$

947378.00

$

s 852,640.20

$

s 149,553.00 90

s 134597.70

s 7,295,871.00

s 6,566,283.90 $

37,641.00 0.00
37 641.00 -17184.00 201,263.00

$

207,283.00 90 $

s 186,554.70

54,505.00 90

49 054.50

s

261,788.00

s

s 235,609.20

5,569.00 2149.00
7 718.00

$ 7,557,659.00

$ 6,801,893.10 $

208,981.00

$

19,552.00

63,539.00

$

19,552.00 $

63539.00

$

83,091.00 100 $

83,091.00 $

(2) Salary accruals (July and August 1994 Defened Salaries) reported as expenditures in the prior year General Purpose Financial Statements are included on this analysis as required b>t'
program guidelines.

842.00 842.00

- 34 -

SCHEDULE "9"

TOTAL REQUIRED

ACTUAL EXPENDITURES

SALARIES (1)(2) OPERATIONS

TOTAL

AMOUNTOF
UNOEREXPENDITURE FOR REQUIRED ALLOTMENT

$

607,952.90 $

711,782.37 $

38,351.01 $

750,133.38

1,604,100.80

1,855,625.43

133,628.21

1,989,253.64

$ 2,212,053.70 $ 2,567,407.80 $

171,979.22 $ 2,739,387.02 $

0.00

738,215.40

1,003,729.57

82,929.34

1,086,658.91

0.00

1,251,978.60

1,385,020.23

92,164.27

1,477,184.50

0.00

185,872.90

348,877.48

95,964.89

444,842.37

0.00

1,085,760.80

1,374,830.39

239,787.96

1,614,618.35

0.00

285,970.60

625468.03

45 520.19

670,988.22

0.00

$ 5,759,852.00 $ 7,305,333.50 $

728,345.87 $ 8,033,679.37

$

691,099.50

$

105,364.93 $ 224,070.67 459,778.92
23,258.03

2,696.41 $ 2,305.06 11,014.61
322.60

108,061.34 226,375.73 470,793.53
23,580.63

$

691,099.50 $

812,472.55 $

16,338.68 $ 828,811.23

0.00

199 181.70

215,396.47

10 623.07

226,019.54

0.00

$

890,281.20 $ 1,027,869.02 $

26,961.75 $ 1.054,830.77

$

117 413.70 $

267 281.31 $

2154.60 $

269 435.91

0.00

$ 6,767,546.90 $ 8,600,483.83 $

757,462.22 $ 9,357,946.05

$

192,123.70 $

322,328.73

$

322,328.73

0.00

51 203.50

$

80,478.44

80478.44

0.00

$

243,327.20 $

322,328.73 $

80,478.44 $

402 807.17

$ 7,010,874.10 $ 8,922,812.56 $

837,940.66 $ 9,760,753.22 $

0.00

$

20,394.00

63 539.00

s _ _ _03.,,9_3_3_.o_o

$

84,687.29 $

84,687.29

$

84,687.29 $

84,687.29 s_ _ _ _ _ _o.o..o..

- 35 -

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS
YEAR ENDED JUNE 30, 1995

SCHEDULE "10"

BOARD MEMBER ADDRESS
Mrs. Helen Fay Lewis, Chairman (*) 119 Canterbury Drive Carrollton, Georgia 30117
Mr. Tommy Gable (*) 1025 Rome Street Carrollton, Georgia 30117
Mr. Joshua Mabry (*) 255 Old King Street Carrollton, Georgia 30117
Dr. James W. Morrow, Jr. (*) 107 Golf View Court Carrollton, Georgia 30117
Mr. David S. Parkman (*) 104 Gold View Court Carrollton, Georgia 30117
Dr. James C. Pope (*) 111 Amy Lane Carrollton, Georgia 30117

COMPENSATION

TRAVEL

$

3,650.00 $

2,648.60

2,950.00

1,543.89

2,850.00

354.36

2,850.00

1,060.93

3,150.00

1,795.13

3,000.00

1,279.61

(*) Denotes Board Members Serving as of June 30, 1995

$

18,45.0.00 $ ======8=,=6=8=2=.5=2=

See notes to the general purpose financial statements.
- 36 -

SECTION II COMPLIANCE

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 31, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation
and. Superintendent and Members ofthe City of Carrollton Board ofEducation
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the City of Carrollton Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated May 31, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.
Compliance with laws, regulations, contracts, and grants applicable to City of Carrollton Board ofEducation is the responsibility ofthe Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective of our audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion.
The results of our tests disclosed no instances of noncompliance that are required to be reported herein under Government Auditing Standards.

95CRL-10

This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
ff~
Claude L. Vickers State Auditor
CLV:gp 95CRL-10

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 31, 1996

Honorable Zell :Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe City of Carrollton Board ofEducation

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

Ladies and Gentlemen:

We have audited the general purpose financial statements of the City of Carrollton Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated May 31, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

We have applied procedures to test the City ofCarrollton Board ofEducation's compliance with the following requirements applicable to each of its Federal financial assistance programs, which are listed in the Schedule of Federal Financial Assistance, for the year ended June 30, 1995:

{l) Political Activity

(5) Allowable Costs/Cost Principles

(2) Civil Rights

(6) Drug-Free Workplace Act

(3) Cash Management

(7) Audit Follow-Up/Resolution

(4) Federal Financial Reports

(8) Administrative Requirements

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

95CRL-40

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph ofthis report. With respect to items not tested, nothing came to our attention that caused us to believe that the City of Carrollton Board ofEducation had not complied, in all material respects, with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
t:1'~~
Claude L. Vickers State Auditor
CLV:gp 95CRL-40

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 31, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe City of Carrollton Board ofEducation

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

Ladies and Gentlemen:

We have audited the general purpose financial statements of the City of Carrollton Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated May 31, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

We have also audited the City ofCarrollton Board ofEducation's compliance with the requirements governing:

(I) Types of Services Allowed or Unallowed

(5) Applicable Special Tests and Provisions

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

(6) Other Requirement Claims for Advances and Reimbursements

(4) Reporting

These requirements are applicable to the major Federal financial assistance programs, which are identified in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1995. The management of the City of Carrollton Board of Education is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit.

95CRL-80

We conducted our audit ofcompliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and Office ofManagement and Budget (0MB) Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Board's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the City of Carrollton Board of Education complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance programs for the year ended June 30, 1995.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
t:t~~
Claude L. Vickers State Auditor
CLV:gp 95CRL-80

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 31, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe City of Carrollton Board ofEducation

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

Ladies and Gentlemen:

We have audited the general purpose financial statements of the City of Carrollton Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated May 31, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

In connection with our audit of the fiscal year 1995 general purpose financial statements of the City of Carrollton Board ofEducation and with our consideration ofthe Board's control structure used to administer Federal financial assistance programs, as required by Office ofManagement and Budget (0MB) Circular A-
128, "Audits of State and Local Governments", we selected certain transactions applicable to certain nonmajor
Federal financial assistance programs for the year ended June 30, 1995. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements governing:

(I) Types of Services Allowed or Unallowed

(2) Eligibility

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

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With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the City of Carrollton Board of Education had not complied, in all material respects, with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter ofpublic record.
t r ~ ~ Respectfully submitted,
Claude L. Vickers State Auditor
CLV:gp 95CRL-120

SECTION III INTERNAL CONTROL

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 31, 1996

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe City of Carrollton Board ofEducation
REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the City of Carrollton Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated May 31, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
We conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.
The management ofthe City ofCarrollton Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives ofan internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate.

95ICL-3

In planning and performing our audit of the general purpose financial statements of the City of Carrollton Board ofEducation for the year ended June 30, 1995, we obtained an understanding of the internal control structure. With respect to the internal control structure, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to determine our auditing procedures for the purpose ofexpressing our opinion on the general purpose financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion.
We noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements.
As described in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category:
General Fixed Assets
A material weakness is a reportable condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions.
Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition disclosed above is also considered to be a material weakness.
This condition was considered in determining the nature, timing, and extent of the procedures to be performed in our audit ofthe City ofCarrollton Board ofEducation's financial statements and this report does not affect our report thereon dated May 31, 1996.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:gp 95ICL-3

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 31, 1996

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe City of Carrollton Board ofEducation
SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the City of Carrollton Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated May 31, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We have also audited the City of Carrollton Board of Education's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated May 31, 1996.
We conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and the provisions of Office of Management and Budget (0MB) Circular A-128, "Audits ofState and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free ofmaterial misstatement and about whether the City ofCarrollton Board of Education complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program.
In planning and performing our audit for the year ended June 30, 1995, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinions on the Board's general purpose financial statements and on its compliance with requirements applicable to major Federal financial assistance programs and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated May 31, 1996.
95ICL-5

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

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

GENERAL REQUIREMENTS

SPECIFIC REQUIREMENTS

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

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

(5) Allowable Costs/Cost Principles

(4) Reporting

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

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

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

During the year ended June 30, 1995, the City of Carrollton Board of Education expended 55% ofits total Federal financial assistance under major Federal financial assistance programs.

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

95ICL-5

are identified in the Schedule ofFederal Financial Assistance. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion.
Our consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might constitute material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more ofthe internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal :financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
tt~~
Claude L. Vickers State Auditor
CLV:gp 95ICL-5

SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS

CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS YEAR ENDED JUNE 30, 1995
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Purchase of Computer Equipment for Employees Financial Statements Finding Resolved Audit Control Number 7661-93-01
The audit report for the year ended June 30, 1994, noted that the City of Carrollton Board ofEducation began a payroll deduction program for the purchase of computers for individual employee's use and ownership. Employees could select a computer from a listing provided by the Board, the Board purchased the computer and transferred ownership of the computer to the employee. A promissory note was then executed with the employee to secure repayment of the Board's funds through a monthly payroll deduction. During the year under review, the final payments were received and this practice was discontinued.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $30,321.20 Audit Control Number 7661-93-03
The audit report for the year ended June 30, 1993, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of$30,321.20 for the Staff Development - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department ofEducation to refund this underexpenditure as required. The underexpenditure of$30,321.20 should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $52,384.61 Audit Control Number 7661-94-01
The audit report for the year ended June 30, 1994, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of$52,384.61 for the Staff Development - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department ofEducation to refund this underexpenditure as required. The underexpenditure of$52,384.61 should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period.
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CITY OF CARROLLTON BOARD OF EDUCATION - CARROLL COUNTY SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS YEAR ENDED JUNE 30, 1995
PRIOR YEAR/CURRENT YEAR GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 7661-93-02 The audit report for the year ended June 30, 1994, noted that the management of the City of Carrollton Board
ofEducation had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal
accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group.
Note: The City ofCarrollton Board ofEducation was provided an opportunity to include pertinent comments
from the Board's management concerning these audit findings, conclusions and recommendations. The Board
has elected not to provide comments for inclusion in this report.
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