GA ABOO ,R1 [33 D3 i'JC/:3-C/4 STATE OF GEORGIA DEPARTMENT OF AUDITS 254 WASHINGTON STREET ATLANTA. GEORGIA 30334 AUDIT REPORT CITY OF DECATIJR BOARD OF EDUCATION A COMPONENT UNIT OF 1HE CITY OF DECATUR, GEORGIA _ YEARENDEDJUNE30, 1994 CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY -TABLE OF CONTENTS- SECTION I FINANCIAL INDEPENDENT AUDITOR'S COMBINED REPORT ON FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE EXHIBITS FINANCIAL STATEMENTS COMBINED STATEMENTS-OVERVIEW A COMBINED BALANCE SHEET ALL FUND TYPES 2 B COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUND TYPES 3 C COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ACTUAL AND BUDGET GOVERNMENTAL FUND TYPES 5 D NOTES TO THE FINANCIAL STATEMENTS 6 ADDITIONAL FINANCIAL INFORMATION COMBINING STATEMENTS SPECIAL REVENUE FUND E COMBINING BALANCE SHEET 18 F COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 22 CAPITAL PROJECTS FUND G COMBINING BALANCE SHEET 26 H COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 27 SCHEDULES 1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE 28 2 ANALYSIS OF CASH AND CASH EQUIVALENTS 30 3 INVESTMENTS 31 4 ACCOUNTS RECEIVABLE 32 SCHEDULE OF REVENUE 5 STATE FUNDS 33 6 LOCAL AND OTHER FUNDS 34 CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY - TABLE OF CONTENTS - SECTION! FINANCIAL ADDITIONAL FINANCIAL INFORMATION SCHEDULES SCHEDULE OF EXPENDITURES BY OBJECT 7 GOVERNMENTAL FUND TYPES 35 8 LOTTERY PROGRAMS 36 ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS 9 OVERALL 37 10 BY PROGRAM 38 11 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD Ml;:MBERS 40 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 DECATUR BOARD OF EDUCATION - DEKALB COUNTY - TABLE OF CONTENTS - SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS SCHEDULE OF PERTINENT VIEWS OF RESPONSIBLE OFFICIALS SECTION I FINANCIAL CLAUDE L. VICKERS STATE AUDITOR (404) 656-2174 DEPARTMENT OF AUDITS 254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 June 14, 1995 Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation and Superintendent and Members ofthe City ofDecatur Board ofEducation INDEPENDENT AUDITOR'S COMBINED REPORT ON FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE Ladies and Gentlemen: We have audited the financial statements (Exhibits A through D) of the City ofDecatur Board ofEducation, as of and for the year ended June 30, 1994, 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 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 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 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. 94ARL-23 * School activity accounts maintained at the individual schools are not included in the financial statements. To conform to generally accepted accounting principles, these accounts should be included in the financial statements. * The Board did not recognize as expenditures, in the year ended June 30, 1994, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1994. Also funds received, subsequent to June 30, 1994, from the Georgia Department ofEducation for the State's share ofthese unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were improperly recorded in the year ended June 30, 1994. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. The aggregate effects on the 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 financial statements of the matters referred to in the preceding paragraph, the financial statements present fairly, in all material respects, the financial position of the City of Decatur Board ofEducation as ofJune 30, 1994, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. Our audit was conducted for the purpose of forming an opinion on the financial statements of the City of Decatur Board of Education taken as a whole. The combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 11 which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part of the financial statements of the City ofDecatur Board ofEducation. Such information has been subjected to the auditing procedures applied in the audit ofthe financial statements and, in our opinion, except for the effects ofthe matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the 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, &~~ Claude L. Vickers State Auditor CLV:gp 94ARL-23 CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY - I- CITY OF DECATUR BOARD OF EDUCATION DEKALB COUNTY COMBINED BALANCE SHEET ALL FUNp TYPES JUNE30 1994 EXHIBIT"A" ASSETS Cash and Cash Equivalents Investments Accounts Receivable Inventories Food Dona1ed Commodities Purchased Food GOVERNMENTAL FUND TYPES SPECIAL CAPITAL GENERAL REVENUE PROJECTS FUND FUND FUND TOTAL (Memorandum On!l) JUNE30 1994 $ 2,847,308.89 $ 139,765.64 $ 88,760.00 $ 3,075,834.53 637,237.95 637,237.95 21,885.62 321,107.96 342,993.58 15,698.60 5789.79 15,698.60 5789.79 Total Assets $ 3,506,432.46 $ 482,361.99 $ 88,760.00 $ 4 077,554.45 LIAi!II ITIES AND EUND EQUITY JJAi!!.LIIlES Accounts Payable Salaries Payable Notes Payable E>cpired Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue Total Liabillties FUND EQUITY Fund Balances Reserved For Continuation of Federal Programs For E,cpired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For Capital Outlay Projects Unreserved Undesignated Total Fund Equity 30,739.09 $ 3,000,000.00 $ 3,030,739.09 $ 100,930.81 68,357.98 3,922.65 $ 61172.92 234,384.36 $ $ 21,790.00 131,669.90 68,357.98 3,000,000.00 3,922.65 21,790.00 61172.92 21790.00 $ 3,286 913.45 $ 23,792.50 $ 23,792.50 $ 15,698.60 5,789.79 $ 23,792.50 $ 21,488.39 $ 451,900.87 226,489.24 $ 475 693.37 $ 247977.63 $ 66970.00 66,970.00 $ 0.00 66970.00 $ 15,698.60 5,789.79 66970.00 112,250.89 678390.11 790 641.00 Total Liabillties and Fund Equity 3,506,432.46 $ 482,361.99 $ 88,760.00 $ 4 077,554.45 The notes to the financial statements are an integral part of this statement. -2- CITY QF PECAJUR BOARD OF EDUCATION - PFKALB COUNTY COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUND TYPES YEAR ENDEp JUNE 30 1994 EXHIBIT"B" ~ 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 Piant Student Tranaponation Services Central Support Servic:eo Other Support Servic:eo Food Servic:eo Operation Community Service Operations Other Operations of Non-Instructional Services Capital OUtlay Total Expendttures Exceos of Revem- over (under) Expendttures QTf:IFB EINANCI~~ ~Q!..!BCF~ ,u~Fal Operating Tranafen, In Operating Transfers Out Total Other Financing Sources (Uses) Exceu of Revenues and Other Financing Source& OYer (under) Expenditures and Other Financing Uses FUND lle,LAN!:;E JUI Y 1 1993 Food Inventory - Net Change in Period Donated Commodtties Purchased Food GENERAL FUND SPECIAL REVENUE FUND CAPITAL PROJECTS FUND TOTAL (Memorandum Only) YEAR ENDED JUNE 30 1994 $ 5,986,759.74 $ 879,744.88 $ 52,707.46 1,730,683.25 3486101.09 291 393.75 9 525 568.29 $ 2 901,821.88 $ 0.00 $ 6,866,504.62 1,783,390.71 3 777 494.84 0.00 $ 12 427 390.17 8,529,421.07 $ 1,398,083.60 9,927,504.67 569,167.09 257,956.59 397,837.17 613,018.68 1,155,699.17 309,764.52 1,755,100.25 283,510.47 8,446.93 7,300.26 121,757.33 16,730.50 119,428.87 120,829.20 31,567.98 131,685.00 170,964.57 99.44 35,074.58 14,300.14 517.14 7,881.37 898,800.41 54,385.89 308 911.25 689,996.29 289,524.57 529,522.17 783,983.25 1,155,798.61 309,764.52 1,790,174.83 297,810.61 8,966.07 15,181.63 1,020,557.74 71,116.39 119,428.87 308911.25 14145 140.90 $ 2 864 189.32 $ 308911.25 $ 17 318 241.47 -4 619 572.61 $ 37632.56 $ -308 911.25 $ -4 890 851.30 $ $ -25483.88 -25483.88 $ 3,224.52 $ 3 224.52 $ 22,259.36 $ 22 259.36 $ 25,483.88 -25 483.88 0.00 -4,645,056.49 $ 5,120,749.86 40,857.08 $ 204,586.69 -286,651.89 $ -4,890,851.30 353,621.89 5,678,958.44 -65.41 2,599.27 -65.41 2 599.27 FUND lle,LANQE JUNE 30 1994 $ 475693.37 $ The notes to the financial statements are an integral part of this statement. -3- 247977.63 $ 86 970.00 $ 790 641.00 Q[TY QE Ql;Ce,TYR aQARQ QF EQYgATIQN - QEKAL6 CQUNTY QQMal~EQ TAT!;MENI QF Rf~f~!.!E f2!;PfNQIIYBE ANQ QljAN~E IN E11tiQ ~I ~NCl;;S ACTYAI ~NQ UOOET-gQ\lERNM~NTAL F!,,!NQ TYPE YEAR ENDED JUNE 30 1994 EXHIBIT"C" ~ State Funds Federal Funds Local and other Funds Total Revenues E2SPEtil:!l!!,,!RES Cu11'8111 Instruction Support Services Pupil Services Improvement of Instructional Services Educational Medm Services General Administration School Admintstration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services other Support Services F.oocl Services Operation Community Service Operations other Operations of Non-lnstruelional Services Capital Outlay Total Expenditures Excess d Revenues over (under) Expenditures QT!:jER EIHANQIN~ ~YRQES (USE} other Sources other Uses Total Other Financing Sources (Uses) Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses F!,,!NQ aaLANQE JYLY 1 1993 Ag,JY!MfNT~ FQQD INV~NTORY - N~T QHANGE IN PERIOD Donated Commodities Purchased Food ACTUAL PER EXHIBIT"B" ACTUAL PER ADJUSTMENTS BUDGET BASIS BUDGET VARIANCE FAVORABLE (UNFAVORABLE) 6,866,504.62 $ 1,783,390.71 3,777,494.84 12,427,390.17 $ 0.00 $ 6,866,504.62 $ 1,783,390.71 3,777,494.84 6,430,967.56 $ 1,208,779.00 7,986,048.10 0.00 $ 12,427,390.17 $ 15,625,794.66 $ 435,537.06 574,611.71 -4,208,553.26 -3, 198,404.49 9,927,504.67 $ 689,996.29 289,524.57 529,522.17 783,983.25 1,155,798.61 309,764.52 1,790,174.83 297,810.61 8,966.07 15,181.63 1,020,557.74 71,116.39 119,428.87 308,911.25 $ 17,318,241.47 $ -4,890,851.30 $ 0.00 $ 9,927,504.67 $ 9,929,309.90 $ 689,996.29 289,524.57 529,522.17 783,983.25 1,155,798.61 309,764.52 1,790,174.83 297,810.61 8,966.07 15,181.63 1,020,557.74 71,116.39 119,428.87 308,911.25 675,092.66 318,197.00 404,756.00 827,791.00 1,209,580.00 280,016.00 1,639,237.00 320,661.00 5,703.00 5,420.00 762,866.00 121,998.00 75,260.00 0.00 0.00 $ 17,318,241.47 $ 16,575,907.56 $ 0.00 $ -4,890,851.30 $ -950,112.90 $ 1,805.23 -14,903.63 28,672.43 -124,766.17 43,807.75 53,781.39 -29,748.52 -150,937.83 22,870.39 -3,263.07 -9,761.63 -257,891.74 50,881.61 -44,168.87 -308,911.25 -742,333.91 -3,940,738.40 $ 25,483.88 $ -25,483.88 0.00 $ 0.00 $ 0.00 $ 25,483.88 $ -25,483.88 0.00 $ 0.00 $ 0.00 $ 25,483.88 -25.483.88 0.00 -4,890,851.30 $ 5,678,958.44 0.00 0.00 $ -4,890,851.30 $ -950,112.90 $ -18,954.53 5,660,003.91 4,521,497.73 0.00 -12,343.22 -3,940,738.40 1,138,506.18 12,343.22 -65.41 65.41 0.00 0.00 2,599.27 -2,599.27 0.00 0.00 FUHQ ~LANQE J!.!NE ~ 1994 790,641.00 $ -21,488.39 $ 769,152.61 $ 3,559,041.61 $ -2,789,889.00 The notes to the financial statements are an integral part of this statement. -5- CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY EXHIBIT "D" NOTES TO THE FINANCIAL STATEMENTS JUNE30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The City ofDecatur Board ofEducation (Board) was established under the laws of the State ofGeorgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. With the exception of the departures from generally accepted accounting principles disclosed in the following paragraphs, 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 of the 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 Decatur Board of Education. Based upon the application of the above criteria, the City of Decatur Board ofEducation is determined to be a component unit of the City ofDecatur, Georgia for financial reporting purposes. Board members were elected by the public and have decision making authority, the power to designate management, the ability to significantly influence operations, but do not have the authority to levy taxes or incur bonded indebtedness. The Board submits a budget to the City Council for approval. The City Council determines the amount of tax revenues flowing to the Board. FUND ACCOUNTING The Board uses funds to report on its financial position and the results ofits operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. General Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, 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 financial statements. - 6- CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY EXHIBIT "D" NOTES TO THE FINANCIAL STATEMENTS JUNE 30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements account for all State, Federal, Local and Other Funds under control of the Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds 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 ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services traditionally provided by a board of education. SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education 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. CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. 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. Governmental funds are accounted for using the modified accrual basis of accounting under which: Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount ofthe transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Those revenues - 7- CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY EXHIBIT "D" NOTES TO THE FINANCIAL STATEMENTS JUNE 30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Property taxes are considered available ifthey 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 departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share ofthese contracts. During fiscal year 1994, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1993 and ending in early June 1994. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1993 and ending in August 1994. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As ofJune 30, 1994, compensation under these employment contracts had been earned, but two-of the twelve monthly payments, due for July and August 1994, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1994. Also, the State's portion of the compensation paid in July and August 1994 was received and recorded as revenue in the fiscal year subsequent to June 30, 1994. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were recorded in the year ended June 30, 1994. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded wlien incurred, rather than when funds are received or disbursed. BUDGET The City of Decatur Board ofEducation has a legally authorized nonappropriated budget which is formally approved by the Board at the aggregate level. Budgets are prepared to provide a basis for funding operations and there is no legal prohibition regarding overexpenditure of the aggregate budget. The budget process begins when the Board's administration prepares a tentative aggregated budget for the Board's approval. The Board ofEducation holds several budget work sessions, which are open to the public, at which comments are received on the tentative budget. After approval of this tentative budget by the Board of Education, the budget is forwarded to the Decatur City Commission. The City Commission may amend and then approves the Board of Education final budget. The City Commission sets the millage rate for the Board at this time. The 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 approves the final budget. After approval, the final budget is then submitted in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. The Board prepares its budget on the modified accrual basis, which is the same basis on which it presents its financial statements. - 8- CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY EXHIBIT "D" NOTES TO THE FINANCIAL STATEMENTS JUNE 30 1994 Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The budget comparison on Exhibit "C" presents actual and budget data for all governmental funds on a combined basis. To facilitate comparison with the budget, donated and purchased food inventories as reflected on Exhibit "B" have been eliminated from fund balance. CASH AND CASH EQUIVALENTS COMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits (including certificates of deposit) 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. INVESTMENTS COMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds in the following: ( l) Obligations issued by the State of Georgia or by other states, (2) Obligations issued by the United States government, (3) Obligations fully insured or guaranteed by the United States government or a United States government agency, (4) Obligations of any corporation ofthe United States government, (5) Prime banker's acceptances, (6) The Local Government Investment Pool administered by the Office of Treasury and Fiscal Services, (7) Repurchase agreements, and (8) Obligations of other political subdivisions ofthe State of Georgia. RECEIVABLES Receivables consist ofgrant reimbursements due 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 financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. - 9- CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY EXHIBIT "D" NOTES TO TIIE FINANCIAL STATEMENTS JUNE 30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES PROPERTY TAXES The City ofDecatur fixed the property tax levy for the 1993 tax year (calendar year) on March 15, 1993 (levy date). Taxes were due on August 1, 1993 and could be paid in two installments on June 1, 1993 and October 1, 1993 (due dates). The lien date for property taxes was January 1, 1993. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1994 since their collection meets the criteria ofGASB codification section P70.103. The City of Decatur Clerk bills and collects the property taxes for the Board ofEducation and remits the taxes collected to the Board. Effective July 1, 1994, the City of Decatur government changed the collection dates for real property tax payments from June 1, and October 1, to September 1, and December 20, respectively. Real property taxes associated with the 1994 tax digest which were due on August 1, 1994 are not deemed to be available at June 30, 1994, and have not been reflected in the accompanying financial statements. The tax millage rate levied for the 1993 tax year (calendar year) for the City of Decatur Board ofEducation was as follows (a mill equals $1 per thousand dollars of assessed value): School Operations 21 00 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 ofnet current assets. COMPENSATED ABSENCES Compensated absences represent obligations of the Board relating to employees' rights to receive compensation for future absences based upon service already rendered. This obligation relates only to vesting accumulating leave in which payment is probable and can be reasonably estimated. No liability has been recorded in the individual funds for the current portion of this obligation as this amount is deemed immaterial to the financial statements. Additionally, the dollar value of accumulated compensated absences at June 30, which will be payable from future resources has not been recorded in the General Long-Term Debt Account Group as this liability is also deemed to be immaterial to the fair presentation of these financial statements. - 10 - CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY EXHIBIT "D" NOTES TO THE FINANCIAL STATEMENTS JUNE30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES INTERFUND TRANSACTIONS The Board has the following types ofinterfund transactions: Reimbursements ofexpenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. Operating transfers are recorded for all interfund transactions other than reimbursements. MEMORANDUM ONLY - TOTAL COLUMNS Total columns on the financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results ofoperations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Note 2: DEPOSITS AND INVESTMENTS COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral in an amount ofnot less than 110 percent of the 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 ofor 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 ofindebtedness or other direct obligations of the United States or of the State of Georgia, (4) Bonds, bills, notes, certificates ofindebtedness or other obligations of the counties or municipalities of the State of Georgia, (5) Bonds ofany public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, - 11 - CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY EXHIBIT "D" NOTES TO THE FINANCIAL STATEMENTS JUNE 30 1994 Note 2: DEPOSITS AND INVESTMENTS (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, 1994, the bank balances were $4,056,830.66. 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. 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, 1994, as follows: Risk Category Bank Balance 1 $ 300,000.00 2 3,756,830.66 3 0.00 Total $ 4 056 830 66 CATEGORIZATION OF INVESTMENTS Investments are classified as to risk by the three categories described below: Category 1 - Insured or registered, or securities held by the Board or the Board's agent in the Board's name. Category 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the Board's name. Category 3 - Uninsured or unregistered, with securities held by the counterparty, or by its trust department or agent but not in the Board's name. - 12 - CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY EXHIBIT "D" NOTES TO THE FINANCIAL STATEMENTS JUNE 30 1994 Note 2: DEPOSITS AND INVESTMENTS Funds invested in an investment pool managed by another government are not required to be categorized unless the investing entity owns specific, identifiable investment securities in the pool. At June 30, 1994, the carrying amount ofthe Board's total investments was $637,237.95 and consisted entirely offunds in the Local Government Investment Pool administered by the Office of Treasury and Fiscal Services which are not required to be categorized since the Board did not own any specific identifiable securities in the pool. Note 3: NON-MONETARY TRANSACTIONS 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 has established a limited risk management program for Unemployment Compensation. Estimated claims are budgeted by management based on known claims and prior experience. During fiscal year 1994, a total of$5,919.28 was paid in claims. Note 5: SIGNIFICANT COMMITMENTS At June 30, 1994, the Board had encumbrances in the amount of$61,172.92 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with the Lottery Programs. The Georgia Department ofEducation has funding available to the Board in an amount equal to these encumbrances. The revenues and expenditures associated with these encumbrances will be recognized in the subsequent fiscal year. Encumbrances outstanding do not constitute expenditures or liabilities in the current year because these commitments will be honored during the subsequent year. These encumbrances are identified by Lottery Program as follows: Computers in Classrooms Distant Learning Media Center and Library Equipment Safe Schools Grant $ 14,904.92 9,000.00 25,815.00 11 453.00 $ 61 172 92 The amounts described in this note are not reflected in the financial statements. - 13 - CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY EXHIBIT "D" NOTES TO THE FINANCIAL STATEMENTS JUNE 30 1994 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. The Board is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition ofthese proceedings is not presently determinable, but are not believed to be material to the financial statements. Note 7: ACCUMULATED EMPLOYEES' LEAVE See Note 1 - Compensated Absences Regular full-time, twelve (12) month employees earn vacation leave with pay. Employees earn from ten (10) to fifteen (15) days per year based on years ofcontinuous service with a maximum accumulation ofthirty (30) days. Upon retirement from the school system, employees may be paid for a maximum of twenty (20) days of unused vacation leave at the current rate of pay or $100.00 per day, whichever is less. Regular employees earn sick leave with pay at a rate of one (1) to fifteen (15) days per year based on years ofcontinuous service with a maximum accumulation of ninety-five (95) days. When an employee, eligible for contract renewal, retires from the school system with a minimum of five (5) years of continuous service, and is able to draw retirement from the state retirement system, that employee may receive $20.00 for each day of accumulated sick leave. Note 8: RETIREMENT PLANS TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) TRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS). TRS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for service retirement after 30 years of creditable service, regardless of age, 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 ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. - 14 - CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY EXHIBIT "D" NOTES TO THE FINANCIAL STATEMENTS JUNE 30 1994 Note 8: RETIREMENT PLANS 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 ofemployer 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, 1994, was $9,509,874.77; total payroll was $10,522.476.05. TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required to contribu~e 6% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees as advised by their independent actuary. For fiscal year 1994 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 1994 amounted to $1,693,660.30, ofwhich $1,123,066.19 was made by the Board and $570,594.11 was made by employees. These contributions represented 11.81% (Board) and 6% (employees) ofcovered payroll. TRS FUNDING STATUS AND PROGRESS 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 salary 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, 1993, was as follows: Total pension benefit obligation $13,912,014,000.00 Net assets available for benefits, at cost Unfunded pension benefit obligation 12 821 722 000.00 $ I 090 292 000 oo - 15 - CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY EXHIBIT "D" NOTES TO THE FINANCIAL STATEMENTS JUNE 30 1994 Note 8: RETIREMENT PLANS The measurement of the total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1993. 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, 1994 were $521,550,000.00. The Board's contribution for the year ended June 30, 1994 of $1,123,066.19 was actuarially determined and represented .2153% oftotal contributions made by all participating employers. Ten year historical trend information is presented in the 1994 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. PSERS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after l Oyears ofservice and attainment ofage 65. A member applying for service retirement with l Oyears of service and retires between 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 of years of creditable service. 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 provisions include death and disability benefits. Disability benefits are the same as if the 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 of what 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 of employer contributions occurs, but the member's contributions are refunded with interest. There were 69 employees covered under PSERS for the year ended June 30, 1994. 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. - 16 - CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY EXHIBIT "D" NOTES TO THE FINANCIAL STATEl\,ffiNTS JUNE 30 1994 Note 8: RETIREl\,ffiNT PLANS Total contributions from employees ofthe Board made during fiscal year 1994 amounted to $2,216.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1994, was $9,150,000.00. Note 9: SURETY BONDS The School Superintendent, Dr. Don L. Griffith, is bonded in the amount of$25,000.00 with the Cincinnati Insurance Company, Cincinnati, Ohio, their Bond No. B-80241263, on which premium was paid through July 1, 1994. - 17 - CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30 1994 ASSETS Cash and Cash Equivalents Accounts Receivable Inventories Food Donated Commodities Purchased Food Total Assets LIABl!,.ITIES A!::,!D FUND EQUITY LIABILITIES Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue Total Liabilities FUNDEOUITY Fund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated Total Fund Equity Total Liabilities and Fund Equity See notes to the financial statements. SCHOOL FOOD SERVICES FUND STATE PRESCHOOL HANDICAPPED PROGRAM FAMILY CONNECTION $ 208,715.03 $ 0.00 24,817.91 $ 8,284.15 15,698.60 5,789.79 $ 255,021.33 $ 0.00 $ 8,284.15 $ 1,050.54 5,993.16 $ 7,043.70 $ 8,133.15 151.00 $ 8,284.15 $ 15,698.60 5,789.79 $ 21,488.39 226,489.24 $ $ 247,977.63 $ $ 255,021.33 $ -18- 0.00 $ 0.00 $ 0.00 0.00 0.00 $ 8,284.15 EXHIBIT"E" Page 1 LOTTERY PROGRAMS DRUG-FREE SCHOOLS AND COMMUNITIES ACT ELEMENTARY AND SECONDARY EDUCATION ACT TITLEII- CHAPTER 1 EISENHOWER EDUCATION OF CHAPTER 2 MATHEMATICS DEPRIVED BLOCK GRANT - AND SCIENCE EVEN CHILDREN FLOW THROUGH EDUCATION START $ 125,001.35 $ 0.00 $ 212.04 $ 0.00 $ 77,100.00 $ 83,072.69 s 12s,001.3s s _ _ _....;ao._oo_s 77,100.00 s _ _ _ _2aa.1_2_.D4_s _ _.,....._o"".o_o s 83,0?2.se $ 62,980.50 847.93 61,172.92 $ 125,001.35 $ 2,241.16 16,305.40 $ 58,553.44 $ 77,100.00 $ 212.04 212.04 $ 72,552.27 10,520.42 $ 83,072.69 $ 0.00 $ _ _ _.....::;0-~00c...$ _ _ _-"0'-'.0-'-0 $ _ _ _ _-"0'-'.0-'-0 $ _ _ _--'0--'.0--'-0 $ 0.00 s s o.oo s _ _ _.....::;o-~oo_s _ _ _ _o_.o_o s _ _ _ _ _o_.o_o s _ _ _ _o_.o_o o.oo s 12s,001.3s s _ _ _....;ao._oo_s s____ s 11,100.00 2_1_2_.0_4 s _ _ _ _o_.o_o 83,072.se -19- CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30 1994 ASSETS Cash and Cash Equivalents Accounts Receivable Inventories Food Donated Commodities Purchased Food Total Assets Lie.an IIIE AND FUND EQUITY LIABILITIES Cash overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue Total Liabilities FUND EQUITY Fund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated Total Fund Equity Total Liabilities and Fund Equity See notes to the financial statements. INDIVIDUALS WITH DISABILITIES EDUCATION ACT TITLE VI, B FLOW PRESCHOOL SPECIAL THROUGH PROGRAM PROJECTS $ 1,248.00 $ 0.00 $ 3,217.72 $ 1,248.00 $ 0.00 $ 3,217.72 $ 1,248.00 $ 1,248.00 $ 294.00 2,923.72 $ 3,217.72 $ 0.00 $ $ 0.00 $ $ 1,248.00 $ -20- 0.00 $ 0.00 $ 0.00 0.00 0.00 $ 3,217.72 EXHIBIT"E" Page2 VOCATIONAL EDUCATION STEWARTS. MCKINNEY HOMELESS ASSISTANCE ACT EDUCATION FOR HOMELESS CHILDREN AND YOUTH CHILDCARE DEVELOPMENT TOTAL JUNE 30, 1994 $ 0.00 $ 338,394.14 $ 91,169.60 $ 36,663.61 321,107.96 15,698.60 5,789.79 $ 91,169.60 $ 0.00 $ 36,663.61 $ 680,990.49 $ 85,271.37 2,086.85 3,811.38 $ 91,169.60 $ 30,430.55 $ 198,628.50 6,233.06 100,930.81 68,357.98 3,922.65 61,172.92 $ 36,663.61 $ 433,012.86 $ 0.00 $ $ 0.00 $ $ 91,169.60 $ 0.00 $ 0.00 $ $ $ 0.00 0.00 $ 15,698.60 5,789.79 21,488.39 226,489.24 247,977.63 0.00 $ 36.663.61 $ 680,990.49 -21 - CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES SPECIAL REVENUE FUND YEAR ENDED JUNE 30 1994 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 Maintenance and Operation of Plant student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Total Expendttures Excess of Revenues over (under} Expendttures OTHER FINANCING SOURCES Operating Transfers In Excess of Revenues and Other Financing Sources over (under} Expendttures FUND BALANCE JULY 1 1993 Food Inventory- Net Change in Period Donated Commodities Purchased Food Residual Equity Transfer FUND BALANCE JUNE 30 1994 See notes to the financial statements. SCHOOL FOOD SERVICES FUND STATE PRESCHOOL HANDICAPPED PROGRAM FAMILY CONNECTION $ 44,608.00 $ 604,414.22 291,393.75 $ 940,415.97 $ 33,564.00 $ 137,498.83 33,564.00 $ 137,498.83 $ $ 898,370.41 $ 898,370.41 $ $ 42,045.56 $ 33,564.00 $ 1,177.55 18,005.00 500.96 58,662.23 6,611.36 517.14 33,564.00 $ 0.00 $ 52,024.59 137,498.83 0.00 $ 42,045.56 $ 203,398.21 -65.41 2,599.27 $ 247,977.63 $ -22- 0.00 $ 0.00 0.00 0.00 0.00 $ 0.00 EXHIBIT"P' Page 1 LOTTERY PROGRAMS DRUG-FREE SCHOOLS AND COMMUNITIES ACT ELEMENTARY AND SECONDARY EDUCATION ACT TITLEII- CHAPTER 1 EISENHOWER EDUCATION OF CHAPTER2 MATHEMATICS DEPRIVED BLOCK GRANT - AND SCIENCE EVEN CHILDREN FLOW THROUGH EDUCATION START $ 664,074.05 $ 23,735.00 $ 459,378.00 $ $ 664,074.05 $ 23,735.00 $ 459,378.00 $ 23,198.00 $ 11,824.00 $ 271,684.20 23,198.00 $ 11,824.00 $ 271,684.20 $ 451,787.06 43,911.55 $ 11,643.17 131,685.00 25,041.07 $ 23,STT.69 57.31 436,648.46 $ 302.74 14,737.15 191.72 7,689.65 $ 664,259.57 $ $ -185.52 $ 23,735.00 $ 0.00 $ 459,378.00 $ 0.00 $ 23,147.92 $ 10,402.87 $ 152,901.08 50.08 1.400.00 21.13 7,598.92 95,361.48 1,092.58 14,300.14 430.00 23,198.00 $ 0.00 $ 11,824.00 $ 271,684.20 0.00 $ 0.00 185.52 $ 0.00 $ 0.00 0.00 $ 0.00 0.00 $ 0.00 0.00 $ 0.00 0.00 $ 0.00 0.00 0.00 $ _ _ _0._00_$ _ _ _ _0_.o_o $ 0.00 $ 0.00 $ -23- o.oo $ _ _......,.o_.o""o CITY OF DECATUR BOARD OF EDUCATION - DEKALB COUNTY COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES SPECIAL REVENUE FUND YEAR ENDED JUNE 30 1994 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 Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Total Expenditures Excess of Revenues over (under) Expendijures OTHER FINANCING SOURCES Operating Transfers In Excess of Revenues and other Financing Sources over (under) Expenditures FUND BALANCE JULY 1 1993 Food Inventory- Net Change in Period Donated Commodities Purchased Food Residual Equity Transfer FUND BALANCE JUNE 30 1994 See notes to the financial statements. INDIVIDUALS WITH DISABILITIES EDUCATION ACT TITLE VI, B FLOW PRESCHOOL SPECIAL THROUGH PROGRAM PROJECTS $ 123,576.00 $ 44,103.00 $ 16,114.28 $ 123,576.00 $ 44,103.00 $ 16,114.28 $ 101,897.79 $ 20,369.68 980.84 327.69 44,103.00 $ 14,865.28 1,249.00 $ 123.576.00 $ $ 0.00 $ 44,103.00 $ 0.00 $ 16,114.28 0.00 $ 0.00 $ 0.00 $ 0.00 0.00 0.00 0.00 $ 0.00 $ 0.00 $ 0.00 -24- EXHIBIT"F" Page2 VOCATIONAL EDUCATION STEWARTS. MCKINNEY HOMELESS ASSISTANCE ACT EDUCATION FOR HOMELESS CHILDREN AND YOUTH CHILDCARE DEVELOPMENT TOTAL YEAR ENDED JUNE 30, 1994 $ 91,169.60 $ $ 91,169.60 $ 20,800.00 $ 20,800.00 $ $ 40,686.95 879,744.88 1,730,683.25 291,393.75 40,686.95 $ 2,901,821.88 $ 83,988.51 $ 8,841.35 498.50 $ 93,328.36 $ $ -2,158.76 $ 20,800.00 $ 20,800.00 $ 0.00 $ 37,665.36 $ 1,398,083.60 300.00 99.44 2,329.57 2,361.30 120,829.20 31,567.98 131,685.00 170,964.57 99.44 35,074.58 14,300.14 517.14 7,881.37 898,800.41 54,385.89 42,755.67 $ 2,864,189.32 -2,068.72 $ 37,632.56 2,158.76 $ 0.00 $ 0.00 0.00 $ 0.00 880.24 3,224.52 -1, 188.48 $ 1,188.48 40,857.08 204,586.69 -