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STATE OF GEORGIA DEPARTMENT OF AUDITS
254 WASHINGTON STREET ATLANTA. GEORGIA 30334

AUDIT REPORT CITY OF DUBLIN BOARD OF EDUCATION
LAURENS COUNTY YEAR ENDED JUNE 30, 1994

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY - TABLE OF CONTENTS -

SECTION!

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

GOVERNMENTAL FUND TYPES

AND EXPENDABLE TRUST FUND

4

C

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - ACTUAL AND BUDGET

GOVERNMENTAL FUND TYPES

6

D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

7

ADDITIONAL FINANCIAL INFORMATION

COMBINING STATEMENTS

SPECIAL REVENUE FUND

E

COMBINING BALANCE SHEET

20

F

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

22

CAPITAL PROJECTS FUND

G

COMBINING BALANCE SHEET

24

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

26

SCHEDULES

I SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

28

2 ANALYSIS OF CASH AND CASH EQUIVALENTS

30

3 INVESTMENTS

31

4 ACCOUNTS RECEIVABLE

32

5 DEBT SERVICE REQUIREMENTS TO MATURITY

33

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY - TABLE OF CONTENTS -

~ SECTION!

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

SCHEDULE OF REVENUE

6

STATE FUNDS

34

7

LOCAL AND OTHER FUNDS

35

SCHEDULE OF EXPENDITURES BY OBJECT

8

GOVERNMENTAL FUND TYPES

37

9

LOTTERY PROGRAMS

38

10

FIDUCIARY FUND TYPE

EXPENDABLE TRUST FUND

40

ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

II

OVERALL

41

12

BY PROGRAM

42

13 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS

44

SECTIONil
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

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY - TABLE OF CONTENTS -
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
SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS

SECTION! FINANCIAL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 2, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the City of Dublin Board of Education
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 ofDublin Board of Education, 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 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.
94ARL-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 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 general purpose financial statements of these variances or omissions have not been determined, but are believed to be material.
In our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the City of Dublin Board of Education as of June 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 general purpose financial statements of the City of Dublin Board ofEducation taken as a whole. The combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 13 which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the City of Dublin Board ofEducation. 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,

CLV:gp 94ARL-13

Claude L. Vickers State Auditor

CITY OF DUBLIN BOARD OF EDUCATION. LAURENS COUNTY - 1-

CITY Of DUBLIN BOARD OF FDUCATION LAURENS COUNTY COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUP
JUNF 30 1994

ASSEI
cash and Cash Equivalents
Investments
Accounts Receivable
Inventories Food Donated Commodities Purchased Food
Amount Available in Debt Service Fund
Amount to be Provided in Future Years For Payment of: Bond Debt Capital Lease Agreements

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

497,367.62 $ 333,251.50 $ 1,666,194.44

142,595.91

297,798.51

201,940.60

22,073.89 12,151.08

Total Assets

639 963.53 $ 665 274.98 $ 1 868135.04

LIABILITIFS AND FUND EQUITY
J.IABl.lJ.filS
Accounts Payable Salaries Payable Expirad Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue Unaamed Lottery Funds capital Lease Agreements General Obligation Bonds Payable
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Continuation of Federal Programs For Debt Service For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For State Capital Outlay Projects
Unreserved Undesignated
Total Fund Equity

$ 101,256.82 $

98,330.64

174,040.21

4,477.68

32,325.00 716.28

$ 101 256.82 $ 309889.81

$

$

85,636.76

5,323.18

22,073.89 12,151.08

$

85,636.76 $

39,548.15

453069.95

315837.02 $ 1 868135.04

$ 538706.71 $ 355,385.17 $ 1,868 135.04

Total Liabilities and Fund Equity The notes to the general purpose financial statements are an integral part of this statement.
. 2.

639 963.53 $

665 274.98 $ 1 868 135.04

EXHIBIT"A"

DEBT SERVICE
FUND

FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS {Memorandum Onl~} JUNE30 1994 JUNE30 1993

$

6,251.90

$ 2,503,065.46 $ 3,181,586.24

$ 218,963.31

218,963.31

46,925.38

852,260.40

1,982,703.61

22,073.BS 12,151.08

11,170.47 10,181.24

$

258,888.65

258,888.65

4,336, 111.31 533141.71

4,336, 111.31 533141.71

4,195,000.00 607 861.68

$ 258888.65 $

6251.90 $

5138141.71 $ 8 586 655.85 $ 9988503.24

$ 199,587.46 $ 355,970.28

174,040.21

160,977.62

4,477.68

7,718.08

483,136.60

221,720.20

32,325.00

716.28

$

533,141.71

533,141.71

607,861.68

4605 000.00

4605000.00

4195000.00

$

5138141.71 $ 5 54B 288.34 $ 6032384.46

$ 258,888.65

$ 258,888.65 0.00 $
258888.65 $

6 251.90 6 251.90

$

5,323.18 $

258,888.65

85,636.76

5.16 28,306.80

22,073.BS 12,151.08

11,170.47 10,181.24 3 007 435.71

394,073.60 $ 3,057,099.38

2 643 293.91

899019.40

$ 3,037 367.51 $ 3 956118.78

$ 258888.65 $

6251.90 $

5138141.71 $ 8 586 655.85 $ 9 988,503.24

3.

QIIY QF pue1 IN RQARP OF EPUCAIIQN - LAURENS COUNTY CQMBINfD STATEMENT OF RJ;VfNUES f;XPENPITURfS AND CHANGES IN FUNQ BALANCES
GOVERNMENTAL FLJNP TYPE; ANP fXPENDABl F TRUST FUND YEAR ENQED JUNE 30 1994

~
State Funds Federal Funds Loeal and other Funds
Total Revenues
EXPENDITURES
Current lnstructtOn Support Services Pupil Services Improvement of Instructional SeMces Educational Media Services General Administration School Administratton Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Service Operations Other Openltions of Non-lnstr\lclional Services
Capital Outlay lleblService
Principal Interest
Total Expenditures
Excess of Revenues over (under) Expenditures
QTHER FINANCING SOURCE; (USES}
Accrued Interest on Bonds Sold Refunding Bond Issuance Cost Prooeeds of Refunding Bonds
Par Value Peyments to Refunded Bend Escrow Agent Cepital l.eeses 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 RALANCE !ULY 1
Food Inventory - Net Change in Period Donated Commodities Purchased Food
Residual Equity Transfer

GENERAL FUND

GOVERNMENTAL FUND

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

10,422,040.60 $ 53,535.94
3 689409.96

513,874.91 $ 1,923, 149.57
274 379.56

14 164 986.50 $ 2 711 404.04 $

243,691.60 36048.42
279740.02

9,448,916.11 $ 1,129,134.49

464,627.66 356,647.96 415,280.41 322,539.20 1,100,258.30 157,562.66 1,349,811.15 342,025.05 50,454.15
16,563.05
161,372.41 16,954.50

182,051.94 55,215.93 57,451.99 63,688.16

3,075.00 14,068.25

29,984.49 1,167,333.94
3,353.10 1,261.64
$

1,332,560.49

42,134.43 16999.82

32,585.54 17 414.46

14 262 146.86 $ 2 706 618.93 $ 1382560.49

$

-97160.36 $

4 785.11 $ -1 102 820.47

$ -958.70
-958.70 $

958.70 958.70

-98,119.06 $ 600,345.57

5,743.81 $ -1, 102,820.47

336,768.10

3,007,435.71

36480.20

10,903.42 1,969.84

-36480.20

FUND BALANCE JUNE 30 The notes to the general purpose financial statements are an integral part of this statement.
4.

538,706.71 $ 355,385.17 $ 1,868,135.04

EXHIBIT"B"

TYPES DEBT
SERVICE FUND

TOTAL

FIDUCIARY
FUND TYPE EXPENDABLE TRUST FUND

TOTALS {Memorandum On~}
YEAR ENDED JUNE 30 1994 JUNE 30 1993

258669.11

11,179,607.11 1,976,685.51 4 258 507.05 $

$ 258 669.11 17 414 799.67 $

11,179,607.11 $ 12,065,897.06

1,976,685.51

1,819,903.64

0.00

4258507.05

4919 496.12

0.00 $ 17 414 799.67 $ 18 805 296.82

10,578,050.60

646,679.60 411,863.89 472,732.40 386,227.36 1,100,258.30 157,562.66 1,352,886.15 356,093.30 $ 50,454.15 48,547.54 1,167,333.94
3,353.10 162,634.05 1,349,514.99

0.00

74,719.97

34 414.28

$

0.00 $ 18 351 326.28 $

258669.11 $ -936 526.61 $

10,578,050.60 $ 9,921,624.93

5,317.50

646,679.60 411,863.89 4n,732.40 386,227.36 1,100,258.30 157,562.66 1,352,886.15 361,410.80
50,454.15 46,547.54 1,167,333.94
3,353.10 162,634.05 1,349,514.99

490,687.43 384,640.60 524,512.95 365,695.63 988,028.07 159,148.17 1,163,395.41 422,658.78 79,774.84
1,031,573.46 3,008.79
150,226.48 3,406,748.52

74,719.97 34414.28

19,300.00

5317.50 $ 18 356 643.78 $ 19111 024.06

-5 317.50 $ -941 844.11 $ -305n7.24

$

10,219.58 $

10,219.58

-l!0,629.77

-l!0,629.77

4,605,000.00 -4,524,370.23

4,605,000.00 -4,524,370.23

958.70 -958.70

10219.58 $

10219.58

268,888.69 $ 0.00

-926,307.03 $ 3,944,549.36

10,903.42 1,969.84

10,219.58 -l!0,629.77

4,605,000.00 -4,524,370.23
$ 958.70 -958.70

407,146.00 3,660,669.67 .3 660 669.67

10219.58 $ 407146.00

-5,317.50 $ 11,569.40

-931,624.53 $ 3,956,118.78

101,418.76 3,859,n6.40

10,903.42 1,969.84 0.00

-3,890.46 1,135.92

268,888.69 $ 3,031,115.61 $

6,251.90 $ 3,037,367.51 $ 3,956,118.78

-5-

CITY QF DUBLIN BOARQ OF f0UCATION - LAURENS CQUNTV COMBINED STATfMfNT OF RfYfNUfS fXPENPITlJBES ANQ CHANGES IN FUND BAI ANCfS
ACTUAL AND BUDGET- GQVfRNMfiNTAL FUNP TYPES
YEAR ENQEQ JUNE 30 1994

EXHIBIT"C"

~
State Funds Fodenol Funds Local and other Funds
Total Revenues
fa/lPENQITURES
Current Instruction SupportSeMces PupilSeMces Improvement of Instructional Services Educational Media Se!vices General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation SeMces Central Support SeMces Other SUPPort Sarvic;es Food SeMces Operation Community Service Operations Other Operations of Non-Instructional Sarvic;es
Capital Outlay DebtSarvice
Total Expenditures
Excess of Reven- over (..-r) ~~uras
QTk:lfR FINAHQ.INg SQYRCfS B.!Sfl
Other Sources Other Uses
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources OYer (under) Expenditures and Other Financing
Uses
FUND a!L.ANCE JULY l 1993
AQJ~JSTMfNT
Prior Year (Net)
EQQQ IN~fNTQBY - NfT CHeiNGE IN Pl;RIQP
Donated Commodities Purchased Food

ACTUAL PER
EXHIBIT"B"

ADJUSTMENTS

ACTUAL PER
BUDGET BASIS

BUDGET

VARIANCE FAVORABLE (UNFAVORABLE)

$ 11,179,607.11 $ 1,976,685.51 4,258,507.05
$ 17,414,799.67 $

0.00 $ 11,179,607.11 $ 12,394,713.00 $

1,976,685.51

1,477,167.00

4,258,507.05 3,764,673.00

0.00 $ 17,414,799.67 $ 17,636,553.00 $

-1,215,105.89 499,518.51 493,834.05
-221, 753.33

10,578,050.60 $
646,679.60 411,863.89 472,732.40 386,227.36 1,100,258.30 157,562.66 1,352,888.15 356,093.30
50,454.15 46,547.54 1,167,333.94
3,353.10 162,634.05 1,349,514.99 109,134.25
$ 18,351,326.28 $
-936,526.61 $

0.00 $ 10,578,050.60 $ 10,290,906.00 $

646,679.60 411,863.89 472,732.40 386,227.36 1,100,258.30 157,562.66 1,352,888.15 356,093.30 50,454.15 46,547.54 1,167,333.94
3,353.10 162,634.05 1,349,514.99 109,134.25

607,656.00 379,773.00 404,873.00 384,315.00 1,063,826.00 191,273.00 1,256,882.00 334,392.00 76,961.00 31,662.00 1,034,850.00
3,182.00 157,254.00 1,358,257.00

0.00 $ 18,351,326.28 $ 17,576.062.00 $

o.oo $ -936,526.61 $

60,491.00 $

-287, 144.60
-39,023.60 -32,090.89 -67,859.40 -1,912.36 -36,432.30 33,710.34 -96,004.15 -21,701.30 26,506.85 -14,885.54 -132,483.94
171.10 -5,380.05 8,742.01 -109, 134.25
-775,264.28
-997,017.61

4,616,178.28 $ -4,605,958.70
10,219.58 $

0.00 $ 4,616,178.28 $ -4,605,958. 70

0.00 $

10,219.58 $

349,246.00 $ -349,246.00
0.00 $

4,266,932.28 -4,256,712.70
10,219.58

-926,307.03 $ 3,944,549.38

0.00 $ -926,307.03 $

60,491.00 $

-21,351.71

3,923,197.67 2,056,954.09

-986,798.03 1,866,243.58

0.00

-3,867.52

3,867.52

10,903.42

-10,903.42

0.00

0.00

1.969.84

-1,969.84

0.00

0.00

FYND WAN~f JUNI; 30 1~

$ 3,031,115.61 $

-34,224.97 $ 2,996,890.64 $ 2,113,577.57 $

883,313.07

The notes to the general purpose financial statements are an integral part of this statement. -6-

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEl\,fENTS
JUNE 30 1994
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City ofDublin Board of Education (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. 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 Dublin Board ofEducation.
Based upon the application of the above criteria, the City ofDublin Board of Education 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 Dublin, 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 millage rate at which school taxes are levied and may incur bonded indebtedness with voter approval.
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.
- 7-

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30 1994
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 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.
DEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general Jong-term principal, interest and paying agent fees.
FIDUCIARY FUND TYPE - the trust fund used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. This fund includes:
EXPENDABLE TRUST FUND Local Transportation Fund - the fund used to account for the principal and earnings which may be expended to provide extracurricular transportation of students.
- 8-

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30 1994
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for general obligation bonds outstanding and 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 and the expendable trust fund 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.
Governmental funds and the expendable trust fund 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 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 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
- 9-

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE30 1994
Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 when incurred, rather than when funds are received or disbursed.
BUDGET
The City of Dublin 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. 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 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. 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 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. The placement ofproceeds from bond issues in certificates of deposit is limited to financial institutions located within this State.
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:
(!) Obligations issued by the State of Georgia or by other states,
(2) Obligations issued by the United States government,
- 10 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(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,

(S) 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 ofother political subdivisions of the 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 general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables.

PROPERTY TAXES

The City ofDublin fixed the property tax levy for the 1993 tax year (calendar year) on October 21, 1993 (levy date). Taxes were due on December 20, 1993. 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. l 03. The City of Dublin Clerk bills and collects the property taxes for the Board of Education and remits the taxes collected to the Board.

Tax millage rates levied for the 1993 tax year (calendar year) for the City of Dublin Board ofEducation were as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations School Bonds

12.SS mills 2.00 mills

14 SS 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

- 11 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXIDBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30 1994
Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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.
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 ofthis obligation as this amount is deemed immaterial to the general purpose financial statements.
Additionally, the dollar value of accumulated compensated absences at June 30, which will be payable from future resources has not been recorded 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.
GENERAL OBLIGATION BONDS
The Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group.
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.
Residual equity transfers are recorded for nonrecurring or nonroutine permanent transfers of equity.
Operating transfers are recorded for all interfund transactions other than residual equity transfers and 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
- 12 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXIDBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE30 1994
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 of this data. Certain reclassifications have been made to the comparative data to conform to the current year classifications.
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 of not less than I 10 percent of the public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-1 I 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:
( 1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates ofindebtedness or other direct obligations of the United States or of the State ofGeorgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities ofthe State of Georgia,
(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and
(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest 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.
- 13 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30 1994

Note 2: DEPOSITS AND INVESTMENTS

CATEGORIZATION OF DEPOSITS At June 30, 1994, the bank balances were $3,798,295.26. 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:

Bank Balances

Risk Categories

2

3

Cash Deposits Investment Portfolio AccoW1ts
Total Deposits

$ 3,797,648.95 646.31
$ 3 Z28 225 26

$ 376,042.06 646.31
$ 3Z6 688 3Z

$ 3,077,852.13 0.00
$ 3 ozz 852 13

$ 343,754.76 0.00
$ 3'43 Z54 Z6

CATEGORIZATION OF INVESTMENTS At June 30, 1994, the carrying amount of the Board's total investments was $218,317.00 and this entire amount consisted ofU. S. Government Securities which was insured or registered, or securities held by the Board or the Board's agent in the Board's name. The market value of these investments was $218,317.00.

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$3,494.00 was paid in claims.

- 14 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE30 1994

Note 5: GENERAL LONG-TERM DEBT

CAPITAL LEASES The City of Dublin Board of Education has entered into various lease agreements as lessee for building and equipment. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value of the future minimum lease payments as of the date of their inception.

ADVANCE REFUNDING In the prior year, the City ofDublin Board of Education was a component unit of the City of Dublin, Georgia and was thereby not authorized to issue debt. In the current period, the City of Dublin Board of Education became a separate entity with the power to incur bonded indebtedness as authorized by House Bill 1923 of the 1994 Session of the Georgia General Assembly. Accordingly, all rights and obligations of bond indebtedness incurred by the City ofDublin, Georgia on behalf of the City of Dublin Board of Education were transferred to the City of Dublin Board of Education in the year under review. The amount of bond indebtedness transferred to the Board was $4,195,000.00.

During the year under review, the City of Dublin Board of Education issued $4,605,000.00 in General Obligation Refunding Bonds to advance refund $4,195,000.00 of outstanding bonds. The bond issue of $4,605,000.00 less underwriters and bond issue cost of$80,629.77 provided net proceeds of$4,524,370.23. The total net proceeds of $4,524,370.23 were deposited in an irrevocable trust with an escrow agent to provide for future debt service payments on the 1989 Bond issue. As a result, the 1989 Series Bonds are considered defeased, and the liability for this issue has been removed from the General Long-Term Debt Account Group. The City ofDublin Board ofEducation refunded the aforementioned bonds to reduce its total Debt Service payments over 15 years beginning subsequent to fiscal year 1994 by $240,155.83 and to obtain an economic gain (difference between the present values of total debt service payments and the old and new debt) of$93,693.22.

The changes in General Long-Term Debt during the fiscal year ended June 30, 1994, were as follows:

Balance July 1, 1993
Retroactive Restatement ofPrior Year Balances
Balance July 1, 1993 Restated
Additions
Deletions
Balance June 30, 1994

Capital Leases
$ 607,861.68

General Obligation
Bonds

$

0.00

Total $ 607,861.68

4 195 000.00 4 195 000.00

$ 607,861.68 $4,195,000.00 4,605,000.00
74 719.97. 4 195 000.00 $ 533 141 71 $ 4 605 000 00

$4,802,861.68 4,605,000.00 4 269 719.97
$ 5 138 141 71

- 15 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE30 1994

Note 5: GENERAL LONG-TERM DEBT

At June 30, 1994, payments due, by fiscal year which includes principal and interest for these items:

Fiscal Year Ended June 30

Capital Leases

General Obligation
Bonds

Total Debt

1995 1996 1997 1998 1999 2000 and thereafter

$ 99,358.86 $ 468,070.00 $ 567,428.86

80,058.86

463,711.25

543,770.11

80,058.86

463,625.00

543,683.86

80,058.86

467,316.25

547,375.11

80,058.86

459,792.50

539,851.36

270 628.42 4 468 781.25 4 739 409.67

Total Principal and Interest

$ 690 222.72 $ 6 72129625 $ 7 "18] 5!8 27

Deduct: Imputed Interest

$ 157 081.01

Net Present Value ofFuture Minimum Lease Payments

$ ~33 141 71

Note 6: SIGNIFICANT COMMITMENTS

At June 30, 1994, the Board had encumbrances in the amount of $286,440.17 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with Lottery Programs. Lottery funds in the amount of $286,439.97 are available to fund these encumbrances. Encumbrances outstanding do not constitute expenditures or liabilities in the current year because these commitments will be honored during the subsequent fiscal year. These encumbrances are identified by Lottery Program as follows:

Computers in Classrooms Distant Learning Media Center and Library Equipment Safe Schools Grant

$ 72,975.00 1,979.74
64,643.23 146 842.20

$ 286 440 17

The amounts described in this note are not reflected in the general purpose financial statements.

Note 7: CONTINGENT LIABILITIES

Amounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures

- 16 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30 1994
Note 7: CONTINGENT LIABILITIES
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 a legal proceeding pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition ofthis proceeding is not presently determinable, but is not believed to be material to the general purpose financial statements.
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 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, 1994, was $9,654,517.1 l; total payroll was $10,673,153.38.
TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required to contribute 6% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of
- 17 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30 1994

Note 8: RETIREMENT PLANS

Trustees as advised by their independent actuary. For fiscal year 1994 that rate for employer contributions was 11.81%. The interest rate assumption (rate ofretum on investments) was 7.50%.

Total contributions made during fiscal year 1994 amounted to $1,719,471.38, of which $1,140,198.47 was made by the Board and $579,272.91 was made by employees. These contributions represented 11.81% (Board) and 6% (employees) of covered 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 of June 30, 1993, was as follows:

Total pension benefit obligation

$13,912,014,000.00

Net assets available for benefits, at cost

12 821 722 000.00

Unfunded pension benefit obligation

$ 1 090 292 000 00

The measurement ofthe total pension benefit obligation is based on an actuarial valuation as of June 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 $1,140,198.47 was actuarially determined and represented .2186% of total 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.

- 18 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE30 1994
Note 8: RETIREMENT PLANS
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 10 years ofservice and attainment of age 65. A member applying for service retirement with 10 years 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 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 of the 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 ofemployer 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. Total contributions from employees ofthe Board made during fiscal year 1994 amounted to $2,424.00. 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. Charles M. Warnock, is bonded in the amount of $20,000.00 with the Western Surety Company, Sioux Falls, South Dakota, their Bond No. 600-30-269, on which premium was paid through August 15, 1994.
- 19 -

C[TY OE PUB! IN BOABP OE EDUCATION LAURENS COUNTY
COMBINING BALANCE SHEET SPFC1AL BFYENUF EYNP JUNF:30 1994

cash and cash Equivalents
Accounts Receivable
Inventories Food Donated Commodities Purchaaed Food

ELEMENTARY

SCHOOL FOOD
SERVICES FUND

STATE PRESCHOOL HANDICAPPED
PROGRAM

LOTTERY PROGRAMS

DRUG-FREE SCHOOLS AND COMMUNITIES
ACT

CHAPTER 1 EDUCATION OF
DEPRIVED CHILDREN

$ 378,615.79 $

0.1)()

$

429.29 $

5,990.68

31,129.42

$ 77,107.45

3,779.44

106,763.00

22,073.89 12,151.08

Total Assets

$ 443,970.18 $ _ _ _ _0-.00.;.$ 77,107.45 $

4,208.73 $ _ _1_1_2.7..53=.68--

LIAB(LmEs AND FUND EOLHTV
~
Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue Unearned Lottery Funds
Total Liabilities
FUNP EQUITY
Fund Balances Rese!Ved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchaoed Food
Unreoerved Undesignated
Total Fund Equity

$ 32,278.48 61,629.71
$ 93,908.19
$ 22,073.89 12.151.08
$ 34,224.97 315,837.02 $
$ 350,061.99 $

$ 15,087.23 28,723.28 $
255.66 32,325.00
716.28
$ 77,107.45 $

782.70 $ 2,997.34
428.69

25,497.75 86,094.45.
1,161.48

4,208.73 $

112,753.68

0.00 $

0.00 $

0.00 $

0.00

0.00 $

0.00 $

0.00 $

0.00

Total Liabilmes and Fund Equity

$ 443,970.18 $

0.00 $ 77107.45 $

4,208.73 $

112,753.68

See notes to the general purpoge financial statements.

-20-

EXHIBIT"E"

AND SECONDARY EDUCATION ACT

TITLEII-

EISENHOWER

CHAPTER2

MATHEMATICS

BLOCK GRANT - AND SCIENCE

FLOW THROUGH EDUCATION

$

81.84 $

6,098.26

5,525.64

$

EVEN START

INDIVIDUALS WITH

DISABILITIES EDUCATION ACT

TITLE VI, B

FLOW

PRESCHOOL

THROUGH

PROGRAM

STEWARTS. MCKINNEY HOMELESS ASSISTANCE
ACT

TOTALS JUNE 30, 1994 JUNE 30, 1993

$

2,627.21 $

2,058.11 $ 395,901.18 $ 380,535.15

30,956.56 $

42,537.00

297,798.51

158,706.82

22,073.89 12,151.08

11,170.47 10,181.24

$

5,607.48 $

6,098.26 $ 30,956.56 $

42,537.00 $

2,627.21 $

2,058.11 $ 727,924.66 $ 560,593.68

$ 18,619.07 $

28,943.38

$ 62,649.68

$

1,211.64$

775.08

3,684.36

3,219.24 $

100.00 $ 2,058.11

98,330.64 $ 55,166.88

4,395.84

8,653.13

10,269.74

174,040.21

160,977.62

104.64

2,527.21

4,477.68

7,681.08

32,325.00

716.28

$

5,607.48 $

775.08 $ 30,956.56 $

42,537.00 $

2,627.21 $

2,058.11 $ 372,539.49 $ 223,825.58

$

5,323.18

5,323.18 $

5.16

22,073.89 12,151.08

11,170.47 10,181.24

$

5,323.18

$ 39,548.15 $ 21,356.87

$

0.00

0.00 $

0.00 $

a.co$

a.co$

0.00

315,837.02

315,411.23

$

a.co$

5,323.18 $

0.00 $

a.co$

a.co$

a.co$ 355,385.17 $ 338,768.10

$

5,607.48 $

6,098.26 $ 30,956.56 $

42,537.00 $

2,627.21 $

2,058.11 $ 727,924.66 $ 560,593.68

-21-

C[!X QF ClUBblt,I E!QARQ QF ~QUQAI!Qt,1 Li\UREN!, QQUt,ID'.
~Mfil~I~~ ~I6TEMFtfi QF BEVENYE~ E~PFNQl]]JBf;~ ~~Q ~l::fAt:U~F~ It,! E!.!NQ ~J..AN~E~
!,PEQIAL BgVENUE FVtm
YEAR ENPFP JUNE 30 1$4

ELEMENTARY

SCHOOL FOOD
SERVICES FUND

STATE PRESCHOOL HANDICAPPED
PROGRAM

LOTTERY PROGRAMS

DRUG-FREE SCHOOLS AND COMMUNITIES
ACT

CHAPTER 1 EDUCATION OF
DEPRIVED CHILDREN

~

State Funds Federal Funds Local and other Funds

$ 77,286.00 $ 816,094.17 274,379.56

37,161.00 $ 399,427.91 $

33,645.31 $

744,237.52

Total Revenues

$ 1,167,759.73 $

37,161.00 $ 399,427.91 $

33,645.31 $

744.237.52

EXPE@ITURES

Current lnotruction Support Services Pupil Servic:es Improvement of lnslructional Service& Educational Media Service& General Administration Maintenance and Operation of Plant Student Tranoportation Service&
Central Support Service& other Support Service& Food Services Operation Community Service Operation& other Operation& of Non-lnolrudional Services

$ 1,167,333.94

31,829.51 $ 289,357.95 $

5,200.00

48,286.86 2,573.67
57,451.99

675.00

7,720.03 $
23,973.19 1,878.08
74.01

652,380.98 63,030.07

1,090.19

1,082.42

28,826.47

Total Expenditures
Excess of Revenues over (under) Expenditures QJl:tFR El~A~~I~~ ~!.!B~E

$ 1,167,333.94 $

$

425.79 $

38,119.70 $ 399.427.91 $

-958.70 $

0.00 $

33,645.31 $ 0.00 $

744,237.52 0.00

Operating Transfers In

958.70

Excess of Revenues and other Financing Sources

over (under) Expenditures

$

425.79 $

0.00 $

0.00 $

0.00 $

0.00

FUt,112 ~Li\NQE JULY 1

336,762.94

0.00

0.00

0.00

0.00

Food Inventory - Net Change in Period Donated Commodllie& Purchased Food

10,903.42 1,969.84

FUNCl ~Li\NQE ~UNE :lQ

$ 350,061.99 $

0.00 $

0.00 $

0.00 $

0.00

See notes to the general purpose financial statements.

-22-

EXHIBIT"F"

AND SECONDARY EDUCATION ACT

TITLEII-

EISENHOWER

CHAPTER2

MATHEMATICS

BLOCK GRANT - AND SCIENCE

FLOW THROUGH EDUCATION

EVEN START

INDIVIDUALS WITH

DISABILITIES EDUCATION ACT

TITLE VI, B

FLOW

PRESCHOOL

THROUGH

PROGRAM

STEWARTS. MCKINNEY HOMELESS ASSISTANCE
ACT

TOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993

$ 513,874.91 $ 103,460.96

$

33,722.38$

19,826.99 $ 112,905.05 $ 124,608.36 $

5,342.79 $ 32,767.00 1,923,149.57 1,756,344.14

274,379.56

284,500.47

$

33,722.38 $

19,826.99 $ 112,905.05 $ 124,608.36 $

5,342.79 $ 32,767.00 $ 2,711,404.04 $ 2,144,305.57

$ 70,391.53 $

48,327.80 $

706.79 $ 28,419.90 $ 1,129,134.49 $ 766,395.83

$

33,639.39

65,618.07

$

14,485.06

34,735.92

310.00

82.99

18.75

132.76 2,400.00 5,250.00

349.58 7,740.00

2,262.91

4,573.00 63.00

761.41 1,233.20
1,015.25 75.60
1,261.64

182,051.94 55,215.93 57,451.99 63,688.16 3,075.00 14,068.25
29,984.49 1,167,333.94
3,353.10 1,261.64

117,804.39 53,991.62
60,337.05 2,692.47 5,565.14
21,636.17
1,031,573.46 2,436.63

$

33,722.38 $

14,503.81 $ 112,910.21 $ 124,608.36 $

5,342.79 $ 32,767.00 $ 2,706,618.93 $ 2,062,432.76

$

0.00 $

5,323.18$

-5.16 $

0.00 $

0.00 $

0.00 $

4,785.11 $

81,872.81

958.70

$

0.00 $

5,323.~8 $

-5.16 $

0.00 $

0.00 $

0.00 $

5,743.81 $

81,872.81

0.00

0.00

5.16

0.00

0.00

0.00

336,768.10

259,921.67

10,903.42 1,969.84

-3,890.46 -1,135.92

$

0.00 $

5,323.18 $

0.00 $

0.00 $

0.00 $

0.00 $ 355,385.17 $ 336,768.10

-23-

CITY OF DUBLIN BOARD OF !;DUCATION - LAURENS COUNTY COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30 1994

ASSETS Cash and Cash Equivalents Accounts Receivable

REGULAR

GEORGIA STATE FINANCING

PROJECT

PROJECT

A88-77 4-022

ABB-77 4-030

$ 1,868,135.04 $

0.00 $

0.00

Total Assets

$ 1,868,135.04 $

0.00 $

0.00

LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft Accounts Payable Expired Grant Balances Payable Contracts Payable Retainages Payable
Total Liabilities
FUND EQUITY
Fund Balances Reserved For State Capital Outlay Projects Unreserved Undesignated
Total Fund Equity
Total Liabilities and Fund Equity

$ 1,868,135.04 $ $ 1,868,135.04 $
$ 1,868,135.04 $

0.00 $ 0.00 $
0.00 $

0.00 0.00
0.00

See notes to the general purpose financial statements.

-24-

EXHIBIT"G"

AND INVESTMENT COMMISSION

PROJECT

PROJECT

92/928-774-108 92/92S-774-1 09

GOVERNOR'S EMERGENCY
FUND

TOTALS JUNE 30, 1994 JUNE 30, 1993

$

0.00 $ 1,868,135.04 $ 2,008,461.50

$

126,287.20 $

75,653.40

201,940.60

1,754,694.83

$

126,287.20 $

75,653.40 $

0.00 $ 2,070,075.64 $ 3,763,156.33

$

126,287.20 $

75,653.40

$

126,287.20 $

75,653.40

$ 201,940.60

$

50,826.82

37.00

483,136.60

221,720.20

$ 201,940.60 $ 755,720.62

$ 3,007,435.71

$

0.00 $

0.00 $ _ _ _ _0._00_$ 1,868,135.04

0.00

$

0.00 $

o.oo s___---=-o"'.o-=--o s 1,asa,13s.04 s 3,007,435.71

$

126,287.20 $

75,653.40 $======0.0..0,. $ 2,070,075.64 $ 3,763,156.33

-25-

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30 1994

REVENUES
State Funds Local and Other Funds
Total Revenues
EXPENDITURES
Capital Outlay Land and Land Improvements Building and Building Improvements Equipment
Debt Service Principal Interest
Total ExJ?enditures
Excess of Revenues over (under) EJCpenditures
OTHER FINANCING SOURCES /USES}
Proceeds from Capital Lease Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) EJCpenditures and Other Financing Uses
FUND BALANCE JULY 1
Residual Equity Transfer

REGULAR

GEORGIA STATE FINANCING

PROJECT

PROJECT

A88-77 4-022

A88-774-030

$

0.00 $

35,751.00

$

0.00

$

0.00 $

0.00 $

35,751.00

$

39,140.00

70,727.62 $

32,585.5417,414.46
$ 159,867.62 $
$ -159 ,867 .62 $

0.00 $

861.60

0.00 $ _ _~86~1~.6~0 0.00 $ _ _34~,8_89_._40_

$ -159,867.62 $ 0.00
2,028,002.66

0.00 $ 1,590.80 -1,590.80

34,889.40 0.00
-34,889.40

FUND BALANCE JUNE 30

$ 1,868,135.04 $

(1) The purpose of these funds is to assist with the completion of the physical education facilities at Dublin High School.

See notes to the general purpose financial statements.

-26-

o.oo $-~--o=.o=o

EXHIBIT"H"

AND INVESTMENT COMMISSION

PROJECT

PROJE<;:T

92/92S-774-108 92/92S-774-109

GOVERNOR'S EMERGENCY
FUND (1)

TOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993

$

126,287.20 $

24,210.43

$

150,497.63 $

75,653.40 $ 11,837.99
87,491.39 $

6,000.00 $ 6,000.00 $

243,691.60 $ 1,772,384.90

36,048.42

1,195,273.13

279,740.02 $ 2,967,658.03

$

1,750.00 $

1,000.00 $

654,002.23

545,753.84

4,898.10

8,427.10

$

660,650.33 $

555,180.94 $

$

-510,152.70 $

-467,689.55 $

6,000.00 $

47,890.00 $ 1,271,345.29
13,325.20

32,972.00 3,319,743.64
29,164.50

32,585.54 17,414.46

6,000.00 $ 1,382,560.49 $ 3,381,880.14

0.00 $ -1,102,820.47 $ -414,222.11

$ -510,152.70 $ 1,819,780.37 -1,309 ,627 .67

-467,689.55 $ 1 ,186,064.54 -718,374.99

$ 349,246.00 3,660,669.67 -3,605,066.21
$ 404,849.46

0.00 $ -1,102,820.47 $

-9,372.65

0.00 3,007,435.71

3,016,808.36

-36,480.20

$

0.00 $

0.00 $

0.00 $ 1,868,135.04 $ 3,007,435.71

-27 -

QITY QE P\.!!lL [N f!QABQ QF EP11QATIQN - LAURENS CQ\,!NTY
Ct:fEC!IJ!.~ OF FED~RA" FINANCIAL ASlIANQE
YEAR ENDEt;! JUNE 30 1994

SCHEDULE 1

FUNDING AGENCY PROGflAM/GRANT

CFDA NUMBER

AWARDS IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD (NET OF REFUNDS}

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

Agric/Jlture, U. S. Department of Through Georgia Department of Education Food and Nutrition Program Child and Adult Care Food Program 1994 Contract Food Services school Breakfast Program 1994 Grant National School Lunch Program 1993 Grant 1994Grant Food Distribution Program (1)

10.558 $

2,305.95 $

10.553
10.555 10.555 10.550

157,675.01
567,605.89 88,507.32

2,305.95 $

2,305.95

(2)

151,945.71
4,847.35 543,466.01 N/A

157,675.01

(2)

567,605.89 $ 88,507.32

1,078,826.62 (3) 88507.32

Total U.S. Department of Agriculture

$ 816 094.17 $

702565.02 $ 816 094.17

1167333.94

Education, U. S. Department of Direct P. L. 81-874 1994Grant Through Georgia Department of Education Drug-Free Schools and Communities Act 1993 Grant 1994 Grant Elementary and Secondary Education Act Chapter 1 Education of Deprived Children 1993 Regular
1993 Carry-Over
1994 Reguiar Chapter 2
Block Grant - Flow Through 1993Regular 1994Regular
Tillell EisenhoYJer Mathematics and Science Education 1993Regular 1994Regular
Even Start 1993Grant 1993 Carry-Over 1994Grant
Individuals with Disabilities Education Act Tttle VI, B Flow Through 1992 Carry-OVer - Innovative Grant 1993Regular 1993 Carry-Over 1994Regular Preschool Program 1993 Regular 1993 Carry-Over 1994Regular
Stewart B. McKinney Homeless Assistance Act 1994 Grant

84.041 $

19,661.61 $

84.186 84.186

34,074.00

84.010 84.010 84.010
84.151 84.151

56,879.00 697,070.00
33,803.00

84.164 84.164
84.213 84.213 84.213

17,888.00
24,052.00 114,998.00

84.027 84.027 84.027 84.027
84.173 84.173 84.173
84.196

1,295.00 138,876.00
670.00 14,460.00
32,767.00

19,661.61 $

19,661.61

3,391.71 30,294.56

33,645.31 $

(5) 33,645.31

98,270.08 56,879.00 581,757.00

56,879.00 687,358.52

2,704.00 28,196.74

33,722.38

56,879.00 687,358.52
33,722.38

4,102.00 17,888.00
30,749.02 24,052.00 57,896.49

1,938.99 17,888.00
24,052.00 88,853.05

1,938.99 12,564.82
5.16 24,052.00 88,853.05

-1,083.25 15,814.96
1,295.00 80,881.00
27.17 670.00 7,200.00

1,295.00 123,313.36
670.00 4,672.79

32,767.00

32,767.00

1,295.00 123,313.36
670.00 4,672.79
32,767.00

- 28 -

CITY OF DUBLIN BOARD OF EDUCATION - I AURENS COUNTY SCHEDULE OF FEDERAi FINANCIAL ASSISTANCE YEAR ENDED JUNE 30 1994

SCHEDULE "1"

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

Vocational Education Basic Grants to States

High School Program

Basie Grant

1993 Grant

84.048

$

30,077.23

1994Grant

84.048 $ 32 075.83

32075.83 $ 33 874.33

{4)

Total U. S. Department of Education

1 218 569.44 $

1155567.15 $ 1160 591.34

1,101 737.38

Total Federal Financial Assistance

$ 2034663.61 $

1 858132.17 $ 1976685.51 $ 2 269 071.32

Major Programs are identified by an asterisk c) 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 Child and Adult Care Food Program and the School Breakfast Program were not maintained
separately and are included in the 1994 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.

- 29 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY ANALYSIS OF CASH AND CASH EQUIVALENTS JUNE 30 1994

SCHEDULE "2"

INTEREST BEARING ACCOUNTS
Farmers and Merchants Bank, Dublin, Georgia
Certificate ofDeposit No. 16803 (3.52%)
Farmers State Bank, Dublin, Georgia
Certificate of Deposit No. 11262 (3.40%)
First Union Bank, Dublin, Georgia
Certificate of Deposit No. 8793197 (4.46%)
Knight State Bank, Dublin, Georgia
N.O.W. Account (2.70%) N.O.W. Account (2.73%)

$ 762,760.27

76,042.06

270,721.45

$ 1,089,901.30 303,640.38

1,393,541.68

$ 2,503,065.46

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

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY INVESTMENTS JUNE 30 1994

SCHEDULE "3"

INVESTMENT ACCOUNTS
Nations Bank, AUanta, Georgia
Investment Portfolio Account Cash U.S. Government Securities

$

646.31

218,317.00

$ 218,963.31

See notes to the general purpose financial statements. - 31 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY ACCOUNTS RECEIVABLE JUNE 30 1994

SCHEDULE 4

City of Dublin City Wide Bond Tax City Wide School Tax
Education, Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education Federal Funds Lottery Programs ComputersinCiassrooms Distant Leaming Media Center and Library Equipment Federal Programs Drug-Free Schools and Communities Act Elementary and Secondary Education Act Chapter 1 - Education of Deprived Children Chapter 2 - Block Grant - Flow Through Even Start Individuals with Disabilities Education Act Title VI, B - Flow Through
Georgia S - Financing and Investment Commission Reimbursement on Construction Projects
Various Sources Interest Earned

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE PROJECTS

FUND

FUND

DEBT SERVICE
FUND

TOTAL

$ 140,797.41

49,925.38 $ 49,925.38 140,797.41

1,798.50

5,729.30 24,139.88
14,775.53 4,879.93
57,451.99 3,779.44

106,763.00 5,525.64
30,956.56
42,537.00

5,729.30 24,139.88
1,798.50
14,775.53 4,879.93
57,451.99
3,779.44
106,763.00 5,525.64
30,956.56
42,537.00

$ 201,940.60 1,260.24

201,940.60 1,260.24

$ 142,595.91 $ 297,798.51 $ 201,940.60 $ 49,925.38 $ 692,260.40

See notes to the general purpose financial statements

- 32 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY DEBT SERVICE REQUIREMENTS TO MATURITY JUNE 30 1994

SCHEDULE "5"

PAYMENTS DUE IN FISCAL YEAR ENDING JUNE 30
1995 1996 1997 1998 1999
2000 2001 2002 2003 2004
2005 2006 2007 2008 2009

TOTAL DEBT SERVICE

SERIES 1994

INTEREST

PRINCIPAL

$ 468,070.00 $ 243,070.00 $ 225,000.00

463,711.25

233,711.25

230,000.00

463,625.00

223,625.00

240,000.00

467,316.25

212,316.25

255,000.00

459,792.50

199,792.50

260,000.00

466,507.50 467,028.75 461,482.50 464,972.50 457,203.75

186,507.50 172,028.75 156,482.50 139,972.50 122,203.75

280,000.00 295,000.00 305,000.00 325,000.00 335,000.00

458,416.25 458,163.75 461,406.25 462,200.00 311,400.00

103,416.25 83,163.75 61,406.25 37,200.00 11,400.00

355,000.00 375,000.00 400,000.00 425,000.00 300,000.00

$ 6 791,296.25 $ 2,186,296.25 $ 4,605,000.00

CHANGES IN GENERAL LONG-TERM DEBT Bonds Payable at July 1, 1993 Retroactive Restatement of Prior Year Balances Balance July 1, 1993 Restated Bonds Issued During Period Bonds Defeased During Period
Bonds Payable at June 30, 1994

TOTAL

1994 ISSUE

1989 ISSUE

$

0.00 $

0.00 $

0.00

4 195,000.00

4,195,000.00

$ 4,195,000.00 $

0.00 $ 4,195,000.00

4,605,000.00

4,605,000.00

4 195,000.00

4 195 000.00

$ 4 605,000.00 $ 4,605,000.00 $

0.00

MATURITY DATES Semi-Annual Interest Payment Dates Semi-Annual Debt Retirement Date

See notes to the general purpose financial statements.

- 33 -

DEC 15 - JUN 15 DEC 15 - JUN 15

CITY OF DUBLIN BOARD OF EDUCATION. LAURENS COUNTY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30 1994

SCHEDULE"6"

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 Limned English Speaking Special Instructional Assistance In-School Suspension Mid-tenn Adjustment Local Fair Share Educational Equalization Flrlding Grant Food Services Vocational Education Other State Programs Governor's Emergency Funds Mentor Teacher Program Preschool Handicapped Program Supervision and Assessment of Student and BegiMing Teachers and PerformanceBased Certification Teachers' Retirement Lcltery Programs Algebra Classrooms Computers in Classrooms Distant Leaming Media Center and Library Equipment Pre-Kindergarten Program Safe Schools Grant
Financing and Investment Commission, Georgia State Reimbursement on Construction Projects
Georgia Public Tek!communication Commission Lcltery Program Distant Leaming
CONTRACTS Education, Georgia Department of Consultant - Georgia Education Leadership Academy
OTHER Education, Georgia Department of Reimbursement for GENESIS Project

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

TOTAL

$ 6,078,426.00 1,270,630.00 311,889.00 272,312.00 93,346.00 1,912,834.00

124,117.00 40,489.00 12,420.00 62,991.00 64,593.00 136,451.00 -979,149.00 998,248.00
$ 1,605.00

77,286.00

7,680.00

$ 37,161.00

$ 6,000.00

6,078,426.00 1,270,630.00
311,889.00 2n,312.oo
93,346.00 1,912,834.00
124,117.00 40,489.00 12,420.00 62,991.00 64,593.00 136,451.00 -979, 149.00 998,248.00 77,286.00
1,605.00
6,000.00 7,680.00 37,161.00

2,150.00 8,508.60

2,060.34 51,239.53
4,879.93 57,451.99 279,102.40
675.00

2,150.00 8,508.60
2,060.34 51,239.53
4,879.93 57,451.99 279,102.40
675.00

237,691.60

237,691.60

4,01s.n

4,018.72

1,000.00 1500.00

1,000.00 1500.00

See notes to the general purpose financial statements.

$ 10,422,040.60 $ 513,874.91 $ 243,691.60 $ 11,179,607.11 34.

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY SCHEDULE OF LOCAL AND OTHER REVENUE YEAR ENDED JUNE 30 1994

SCHEDULE'7"

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE PROJECTS

FUND

FUND

FUND

DEBT SERVICE
FUND

TOTAL

Taxes City Wide Bond Tax City Wide School Tax

$ 3,577,136.49

$ 49,925.38 $ 49,925.38 3,577,136.49

Other Anti-Trust Milk Settlement Compensation for Loss of Assets Donations CityofDublin Debt Service Fund Balance Indirect Cost Special Revenue Fund Interest Earned Jury Duty Fees Lost and Damaged Books Recovery of Prior Year Questioned Cost Improper Expendttures Rents Sales Meals School Assets Tuition Other

$ 6,603.42
250.00

1,026.37

13,279.36 43,007.54
950.00 2,155.67
650.00 7,479.00
1,500.00 32,830.35
3,568.13

9,526.25 $ 36,048.42 125.00
263,608.94 93.00

208,743.73

1,026.37 6,603.42
250.00
208,743.73
13,279.36 88,582.21
1,075.00 2,155.67
650.00 7,479.00
263,608.94 1,500.00
32,830.35 3,661.13

$ 3,689,409.96 $ 274,379.56 $ 36,048.42 $ 258,669.11 $ 4,258,507.05

See notes to the general purpose financial statements.

- 35 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY SCHEDULE OF EXPENDITURES BY OBJECT GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30 1994

SCHEDULE "8"

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 Property Services Insurance Communications Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Federal Indirect Costs Other Expenditures
Nonoperating Costs Principal and Interest Building and Building Improvements Equipment

GENERAL FUND

SPECIAL REVENUE
FUND

TOTAL

$ 9,378,036.18 $ 1,295,117.20 $ 10,673,153.38

2,518,122.07

343,510.25

2,861,632.32

37,047.75

13,283.91

50,331.66

92,234.43

24,524.18

116,758.61

8,938.95

8,938.95

127,681.42

127,681.42

208,127.60

26,390.62

234,518.22

855.57

855.57

64,250.00

64,250.00

47,893.00

47,893.00

39,232.59

1,042.99

40,275.58

5,346.37

5,346.37

62,105.76

24,845.00

86,950.76

263,468.05

45,079.64

308,547.69

579,028.47

263,400.94

842,429.41

381,745.23

2,400.00

384,145.23

528,090.74

528,090.74

179,685.99

7,361.25

187,047.24

59,071.00

8,726.50

67,797.50

13,279.36

13,279.36

48,994.01

2,255.32

51,249.33

59,134.25 16,954.50 89,630.04

101,964.66

59,134.25 16,954.50 191,594.70

Total Expenditures

$ 14,262,236.86 $ 2,706,618.93 $ 16,968,855.79

See notes to the general purpose financial statements. - 37 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY SCHEDULE OF EXPENDITURES BY OBJECT
LOTTERY PROGRAMS YEAR ENDED JUNE 30 1994

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

ALGEBRA CLASSROOMS

COMPUTERS IN
CLASSROOMS

DISTANT LEARNING

$

2,060.34 $

44,074.53 $

4,879.93

7,165.00

$

2,060.34 $

51,239.53 $

4,879.93

See notes to the general purpose financial statements. - 38 -

SCHEDULE "9"

MEDIA CENTER AND
LIBRARY EQUIPMENT

PRE-KINDERGARTEN PROGRAM

SAFE SCHOOLS
GRANT

G.P.T.C. DISTANT LEARNING

TOTAL

$

$

31,821.19

25,630.80

$

57,451.99 $

114,371.74 32,438.75 2,894.00 1,082.42 77,389.76 3,272.08 625.00 2,084.79
44,943.86 $
279 102.40 $

$ 675.00

$ 518.72

114,371.74 32,438.75 2,894.00
1,082.42 160,744.47
3,272.08 625.00
2,084.79

3,500.00

81,914.66

675.00 $

4,018.72 $

399,427.91

- 39 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY SCHEDULE OF EXPENDITURES BY OBJECT
FIDUCIARY FUND TYPE - EXPENDABLE TRUST FUND YEAR ENDED JUNE 30 1994

SCHEDULE "1 O"

EXPENDITURES
Operating Costs other Purchased Services

$ ===5=3=1=7=.5==0

See notes to the general purpose financial statements. - 40 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30 1994

SCHEDULE "11"

Minimum Expenditure Requirements (Total Allotment)
Expenditures on Combined Program Basis Salaries Operations
Less: Expenditures for Media Center Programs in Excess of Total Media Allotment Expenditures for Staff Development Programs in Excess of Total Staff Development Allotment for: Cost of Instruction
Expenditures per Audit
Amount of Underexpenditure for Total Allotment

THIRTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

STAFF DEVELOPMENT
PROGRAM

$ 8,069,708.00 $

93,346.00

$ 8,995,854.62 558,509.42 $
$ 9,554,364.04 $

95,813.59 95,813.59

-142,462.94

$ 9,411,901.10 $

-59,797.55 36,016.04

$

0.00 $

57,329.96

See notes to the general purpose financial statements. - 41 -

CITY OF PUBL1N BOARD OF EDUCATION - LAURENS COUNTY
ANALYI OF MINIMUM fXPEN[)ITI IRE Rfqt HREMENT - BY PROGRAM GfNfRA\ FLJNQ- QUA\ ITY p.A.IC fQ\}CATJON ffiQGRAM
YfAR ENDED llJNE 30 1994

GENERAL ANQ CARfF:R fpl )CATION PROGRAMS
Kindergarten (1
Grades1-3(") Sub-Total - K-3
Grades 4- 5 (")
Grades 6 - 8 (1
Grades 9-12 ("') H~h School Laboratories (") vocational Education Laooratories ,,
Total General and Career Education Programs SPE;CIAL fOUCATION PROGRAMS
Regular Programs C.lego<y I (1 categcxy II (1
catego<y Ill (1
catego<y IV (1 Itinerant Supplemental Speech
Sub-Total - Regular Categcxy V (Gilled) (1
Total Special Education Programs
REMEDIAL EQlJCATIQN PROGRAM " MfQIA CENTER PRQGRAMS
Total Thirteen Weighted and Media Center
STAFF DEVEl OPMENT PROGRAMS (1) Co61:dlnstruction
Total Staff DeYelopment
(1 Identifies Thirteen Weighted Programs Note: (1) S10,858.20 of the allotment for Professional
Development has been transferred to Cost of Instruction as authorized by OCGA 20-2-182.
See notes to the general purpose financial statements

ORIGINAL

ALLOTMENTS FROM DEPARTMENT OF EDUCATION

REQUIRED

TOTAL

~

ORIGINAL

MID-TERM

REQUIRED

682,294.00 1 574,099.00 2,256,393.00
772,931.00 1,368,250.00
956,934.00 434,800.00 289118.00 6 078,426.00

90 $ 90 90 90 90 90

614,064.60 $ 1 416,689.10 2,030,753.70 $
695,637.90 1,231,425.00
861,240.60 391,320.00 260,206.20 5,470 583.40 $

0.00 $ 0.00 $ 136,451.00
136,451.00 $

614,064.60 1,416689.10 2,030,753.70
695,637.90 1,367,876.00
861,240.60 391,320.00 260,206.20 5,607,034.40

1,187,608.00

1,068,847.20 $

0.00 $ 1,068,847.20

1,187,608.00 83 022.00
1,270,630.00 311,889.00 272,312.00

90 $ 90
90 $ 90 $

1,068,847.20 $ 74 719.80
1,143,567.00 $ 280,700.10 $ 245 080.80 $

0.00 $
0.00 $ 0.00 $ 0.00 $

1,068,847.20 74 719.80
1,143,567.00 280,700.10 245,080.80

$ 7,933,257.00

7,139,931.30 $

136,451.00 $ 7,276,382.30

31,816.20 100 $ 61 529.80 100

31,816.20 $ 61 529.80

93,346.00

93,346.00 $

0.00 $

31,816.20 61,529.80

o.oo s _ _9_3._,3_46_.o_o

8,026,603.00

7,233,277.30 $

136,451.00 $ 7,369,728.30

- 42 -

SCHEDULE "12"

REQUIRED ALLOTMENT

SAL.ARIES ACTUAL

DISTRJBLJTIOI\I BY RESPECTIVE PORTIONS

AMOUNT OF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

REQUIRED ALLOTMENT

OPERATIONS

AMOUNT OF

UNDEREXPENDITURE

FOR REQUIRED

ACTUAL

ALLOTMENT

598,265.10 $

793,003.00

1372444.20

1578254.53

1,970,709.30 $ 2,371,257.53 $

674,464.50

892,034.17

1,331,585.30

1,546,318.59

823,555.80

908,610.10

374,264.10

434,691.23

226 619.10

317 187.44

5,401198.10 $ 6,470 099.06 $

0.00 0.00 0.00 0.00 0.00 0.00 0.00

15,799.50 $ 44,244.90 60,044.40 $ 21,173.40 36,290.70 37,684.80 17,055.90 33,587.10 205,836.30 $

25,534.68 93 662.20 119,196.88 $ 51,285.76 83,450.n 81,341.38 28,151.16 71,424.25 434,850.20 $

0.00 0.00 0.00 0.00 0.00 0.00 0.00

87,201.90 $ 442,713.60 505,767.60
1,905.30 3 767.40
1,041,355.80 $
72 668.70
1114 024.50 $
275 834.70 $
189 330.30 $

34,228.59 290,923.83 1,110,984.48 169,365.02
1,605,501.92 $ 124293.n $
1 729,795.69 451125.71 $ 344,834.16 $

6,980,387.60 $ 8,995,854.62 $

0.00 0.00
0.00 0.00
0.00

4,433.40 $ 9,399.60 13,658.40

3,793.01 10,719.69. 30,211.97
1,786.85

27,491.40 $ 2051.10
29,542.50 $ 4,865.40 $
55 750.50 $

46,511.52 $ 2 284.37 $
48,795.89 4,922.55 $
69 940.78 $

295,994.70 $

558,509 42 $

0.00 0.00
0.00 0.00
0.00

6,980,387.60 $ 8,995,854.62 $

0.00

31,816.20 $ 61,529.80

91,613.75 $ 4,199.84

93,346,00 $

95,813.59 $

389,340 70 $

654,323,01 $

0.00 57,329.96 57,329.96
57,329,96

- 43 -

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS
YEAR ENDED JUNE 30 1994

SCHEDULE "13"

BOARD MEMBER ADDRESS
Mr. McGrath Keen, Jr., Chairman () P. 0. Box929 Dublin, Georgia 31040
Mr. Eugene Allen 119 Mockingbird Lane Dublin, Georgia 31021
Mr. M. Z. Claxton, Jr. () 1104 Shamrock Drive Dublin, Georgia 31021
Mr. Don Daily 2306 Scott Drive Dublin, Georgia 31021
Mrs. Sharon Sorman () 135 Parks Ridge Dublin, Georgia 31021
Ms. Mary Salter () 118 West Gamer Street Dublin, Georgia 31021
Ms. Sandra Scott () 610 Tennessee Street Dublin, Georgia 31021
Mr. James Tolbert()
P. o. Box405
Dublin, Georgia 31040
Mr. Robert Willis () 505 Brookdale Drive Dublin, Georgia 31021

COMPENSATION

TRAVEL

$

800.00

700.00

800.00 $

21.63

800.00

354.67

800.00

735.38

800.00

747.22

800.00

1,580.05

() Denotes Board Members Serving as of June 30, 1994

$

5,500.00 $

3,438_g5

See notes to the general purpose financial statements. - 44 -

SECTION II COMPLIANCE

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 2, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe City of Dublin Board of Education
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 ofDublin Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated June 2, 1995. 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 Dublin Board of Education is the responsibility of the 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 indicate that, with respect to the items tested, the City of Dublin Board of Education complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Board had not complied, in all material respects, with those provisions.

94CRL-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,
#~~
Claude L. Vickers State Auditor
CLV:gp 94CRL-10

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 2, 1995

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

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 Dublin Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated June 2, 1995. 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 of Dublin Board of Education's compliance with the following requirements applicable to each of its Federal financial assistance programs, which are listed in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1994:

(1) 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 of Management and Budget's "Compliance Supplement for Single Audits ofState 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.

94CRL-50

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 ohhis report. With respect to items not tested, nothing came to our attention that caused us to believe that the City of Dublin Board of Education had not complied, in all material respects, with those requirements. However, the results of our procedures disclosed an immaterial instance of noncompliance with those requirements, which is described in the Schedule ofFindings and Improper or Questioned Costs.
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 94CRL-50

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 2, 1995

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

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 Dublin Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated June 2, 1995. 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 Dublin Board of Education's compliance with the requirements governing:

(1) 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, 1994. The management of the City of Dublin 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.

94CRL-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 of Management 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 City ofDublin Board ofEducation's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the City ofDublin Board ofEducation 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, 1994.
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 94CRL-80

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 2, 1995

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

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 ofthe City of Dublin Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated June 2, 1995. 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 ofthe fiscal year 1994 general purpose financial statements of the City of Dublin Board of Education and with our consideration of the Board's internal control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (0MB) Circular A128, "Audits of State and Local Governments", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1994. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements governing:

(1) 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 ofDublin Board ofEducation's compliance with these requirements. Accordingly, we do not express such an opinion.

94CRL-120

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 Dublin 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 of public record.
Respectfully submitted,
t:7~~
Claude L. Vickers State Auditor
CLV:gp 94CRL-120

SECTION III INTERNAL CONTROL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 2, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe City of Dublin Board of Education
REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements ofthe City of Dublin Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated June 2, 1995. 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.
In planning and performing our audit of the general purpose financial statements of the City of Dublin Board of Education for the year ended June 30, 1994, we considered the internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide assurance on the internal control structure.
The management ofthe City of Dublin Board of Education 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 of an 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
94ICL-3

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.

For the purposes of this report, we have classified the significant internal control structure policies and procedures in the following categories:

(1) Cash and Cash Equivalents (2) Investments (3) Inventories (4) Revenue/Receivables/Receipts (5) Procurement

(6) Expenditures/Liabilities/ Disbursements
(7) Employee Compensation
(8) General Ledger
(9) General Fixed Assets

For all ofthe internal control 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.

We noted certain matters involving the internal control structure and its operation that we consider to be reportable conditions under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters corning 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, reportable conditions were noted in the following control categories:

(1) Accounting Controls (Overall)

(2) General Fixed Assets

A material weakness is a reportable condition in which the design or operation of one or more of the specific 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 all of the reportable conditions disclosed above are also considered to be material weaknesses.

94ICL-3

These conditions were considered in determining the nature, timing, and extent of the procedures to be performed in our audit of the City of Dublin Board of Education's financial statements and this report does not affect our report thereon dated June 2, 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,
tt~~
Claude L. Vickers State Auditor
CLV:gp 94ICL-3

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
June 2, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation
and Superintendent and Members of the City of Dublin Board of Education
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 Dublin Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated June 2, 1995. 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 Board's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated June 2, 1995.
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 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 and about whether the City of Dublin 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, 1994, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion 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 June 2, 1995.
94ICL-7

The management ofthe City of Dublin Board of Education 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 of an 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 of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the 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 purpose 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

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

(!) 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 of relevant policies and procedures and determined whether they have been placed in operation, and we assessed control risk.

During the year ended June 30, 1994, the City ofDublin Board ofEducation expended 67% of its 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

94ICL-7

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.
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 corning to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the Board's ability to administer Federal financial assistance programs in accordance with applicable laws and regulations.
As described in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category:
Administrative Requirements
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 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.
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 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 described 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 ofDublin Board of Education's compliance with requirements applicable to its major Federal financial assistance programs for the year ended June 30, 1994, and this report does not affect our report thereon dated June 2, 1995.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which is a matter of public record.
7~~
Claude L. Vickers State Auditor
CLV:gp 94ICL-7

SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30 1994
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Improper Expenditures Financial Statements Finding Resolved Audit Control Number 7741-93-01
The audit report for the year ended June 30, 1992, reported that a payment of$4,400.00 was made from the Board's General Fund for audit fees of School Activity Accounts. As noted in previous audit reports, reimbursement of $3,750.00 was secured and deposited to the Board's General Fund. In the year under review, the remaining $650.00 was secured and deposited to the Board's General Fund.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $28,306.80 Audit Control Number 7741-93-04
The audit report for the year ended June 30, 1993, disclosed that the Board had an underexpenditure of Quality Basic Education (QBE) funds of $28,306.80 for 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 of Education to refund this underexpenditure as required. The underexpenditure of $28,306.80 will be returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period.
PRIOR YEAR/CURRENT YEAR
ACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation ofDuties Reportable Condition - Material Weakness Audit Control Number 7741-93-02
The audit report for the year ended June 30, 1993, stated that the Board did not provide for adequate separation ofemployee duties in the performance of accounting functions and related procedures for all funds. For the year under review, the Board made some improvements regarding separation of employee duties, but still did not achieve an adequate degree of internal control. This deficiency was a result of management's decision to limit the number of administrative staff made responsible for accounting functions. Management should periodically review this decision to determine if employee duties can be reassigned to achieve a higher degree of internal control with existing staff.
Note: All Federal financial assistance programs listed in the Schedule of Federal Financial Assistance, Schedule "1" of this report are affected by this finding.

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30 1994
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 7741-93-03
The audit report for the year ended June 30, 1993, noted that the management of the City of Dublin 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 of land, 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.
CURRENT YEAR
EXPENDITURES/LIABILITIES/DISBURSEMENTS Failure to Meet Expenditure Requirements Financial Statements Nonmaterial Noncompliance Amount: $57,329.96 Audit Control Number 7741-94-01
For the year under review, the Board reported to the Georgia Department ofEducation on DE form 0420 "General Fund QBE Program Expenditure Summary" expenditures totaling $91,613.75 for the Staff Development - Cost ofInstruction Program. A review ofthe underlying source documentation for the Quality Basic Education (QBE) Program disclosed that the Board expended more than 15 percent of its initial allotment offunds for Professional Development Stipends for StaffDevelopment - Cost of Instruction Program purposes resulting in an underexpenditure of$57,329.96 for the minimum required allotment of$61,529.80 for the StaffDevelopment - Professional Development Stipends Program.
This questioned cost resulted from management's reliance on incorrect information received from the Georgia Department ofEducation, resulting in a violation of Official Code of Georgia 20-2-182. These funds should be returned to the Georgia Department of Education through an increase in the Board's local fair share for QBE programs in a subsequent fiscal period.

CITY OF DUBLIN BOARD OF EDUCATION - LAURENS COUNTY SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30 1994

CURRENT YEAR

GENERAL LEDGER Unearned Lottery Funds Financial Statements Nonmaterial Noncompliance Amount: $716.28 Audit Control Number 7741-94-02

Accounting records applicable to the Georgia Public Telecommunication Commission Distant Learning Lottery Program reflected unearned lottery funds of $716.28 at June 30, 1994. Instructions pertaining to this project requires that unearned lottery funds be refunded to the Georgia Public Telecommunication Commission. This condition occurred because the Board was unaware that a refund was due. The unearned lottery funds of $716.28 should be refunded to the Georgia Public Telecommunication Commission.

AUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Nonmaterial Noncompliance Audit Control Number 7741-94-03

The Board failed to submit a copy ofthe 1993 audit report to various entities that were the sources of Federal financial assistance within 30 days ofreceipt of the audit, as follows:

Fiscal Year 1993

Program

Bleckley County Board ofEducation Community Mental Health Center of
Middle Georgia Middle Georgia College U.S. Department ofEducation

Tech Prep Education (CFDA 84.243)
High Risk Youth Tech Prep Education (CFDA 84.243) Impact Aid (CFDA 84.041) and
Even Start (CFDA 84.213)

Paragraph 13fofOMB Circular A-128 requires that recipients ofFederal financial assistance submit copies ofsingle audit reports to those agencies providing Federal financial assistance within 30 days ofreceipt. Even though formally notified in writing of these report distribution responsibilities by the Department of Audits, management claimed it was unaware of this audit distribution requirement.

Procedures should be implemented to ensure that reports are submitted to grantor agencies in accordance with audit distribution requirements.

Note: The City of Dublin Board of Education 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.