Audit report, City of Vidalia Board of Education, Toombs County, year ended June 30, 1996

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AUDIT REPORT CITYOF VIDALIA BOARD OF EDUCATION
TOOMBS COUNTY, GEORGIA YEAR ENDED JUNE 30, 1996

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

CITY OFVIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS -

SECTION I

FINANCIAL

INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL-STATEMENTS ANDSUPPLEMENTARY INFORMATIONSCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

EXHIBITS

GENERAL PURPOSE FINANCIAL STATEMENTS

COMBINED STATEMENTS - OVERVIEW

A

COMBINED,BAUNCE SHEET

ALLFUND TYPES AND ACCOUNT GROUP

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALLGOVERNMENTAL FUND TYPES

4

C

STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

(NON-GAAP BASIS)

GENERAL AND SPECIAL REVENUE FUNDS

7

D

STATEMENT OF REVENUES, EXPENSES AND

CHANGES IN FUND BALANCES

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND

8

E

STATEMENT OF CASH FLOWS

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND

9

F NOTES TO THEGENERAL PURPOSE FINANCIAL STATEMENTS

10

ADDITIONAL FINANCIAL INFORMATION

COMBINING STATEMENTS

SPECIAL REVENUE FUND

G

COMBINING BALANCE SHEET

24

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES

ANDCHANGES INFUND BALANCES

26

CAPITAL PROJECTS FUND

I

COMBINING BALANCE SHEET

28

J

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

29

CITYOF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS -

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

30

2 CASH AND CASH EQUIVALENTS

32

3 ~STMENTS

33

4 ACCOUNTS RECENABLE

34

5 DEBTSER~CEREQUIREMENTSTOMA~TY

35

SCHEDULE OF REVENUE

6

STATE

36

7

TAXES AND OTHER

37

8 SCHEDULE OF EXPENDITURES BY OBJECT

GENERAL ANDSPECIAL REVENUE FUNDS

38

ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

9

OVERALL

39

10

BY PROGRAM

40

11 SCHEDULE OF TRAVEL OF BOARD MEMBERS

42

SECTION II
COMPLIANCE
COMPLIANCE REPORT BASED ON ANAUDIT OF THE FINANCIAL STATEMENTS PERFORMED INACCORDANCE 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 VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS -
SECTION ill INTERNAL CONTROL REPORT ONINTERNAL CONTROL STRUCTURE INACCORDANCE WITH GOVERNMENT AUDITING STANDARDS SINGLE AUDIT REPORT ON THEINTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SECTION IV FINDINGS ANDIMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS

SECTION I FINANCIAL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
February 20, 1997

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the City of Vidalia Board ofEducation
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATIONSCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
Ladies and Gentlemen:
We have audited the general purpose financial statements (Exhibits A through F) ofthe City of Vidalia Board ofEducation, as of and for the year ended June 30, 1996, as listed in the table of contents. These financial statements are the responsibility ofthe Board's management. Our responsibility is to express an opinion on these financial statements based on our audit.
Except as discussed in the following paragraph, 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 OMB 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 evaluatingthe overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1996, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.
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:
96ARL-13

* 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 conformto generally accepted accounting principles.
* School activity accounts maintained at the individual schools are not included in the general purpose
financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements.
* TheBoard didnot recognize as expenditures, in the year ended June 30, 1996, a portion ofsalaries
andthe corresponding employer's cost ofrelated benefits earnedfor contractual services completed prior to June 30, 1996. Also funds received, subsequent to June 30, 1996, from the Georgia Department ofEducation for the State's share ofthese unrecorded salaries and related benefits were not recorded as revenuein the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1995, were improperly recorded in the yearended June30, 1996. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed.
The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material.
In our opinion, except for the effects of such adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been ableto satisfy ourselves as to the accuracy ofthe food service inventories as discussed in the third paragraph, and except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the City of Vidalia Board ofEducation as of June 30, 1996, andthe results ofits operations and the cash flows ofits nonexpendable trust fund for the year then ended, in conformity with generally accepted accounting principles. In accordance with Government Auditing Standards, we have also issued a report dated February 20, 1997, on our consideration ofthe Board's internal control structure and a report dated February 20, 1997, on its compliance with laws and regulations.
Our audit was conducted for the purpose offorming an opinion on the general purpose financial statements of the Cityof Vidalia Board ofEducationtaken as a whole. The combining statements (Exhibits G through 1) and the financial schedules (Schedules 1 through 11 which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the City of Vidalia Board ofEducation. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, except for the effect of adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary hadwe been able to satisfy ourselves as to the accuracy ofthe food service inventories as discussed in the third paragraph, and except for the effects of the matters referred to in the fourth paragraph, such information is fairly presented in all material respects in relation to the general purposefinancial statements taken as a whole.
96ARL-13

A copyofthis reporthas beenfiled as a permanent record in the office of the State Auditorand made available to the press ofthe State, as provided for by Official Code of Georgia Annotated Section 50-6-24.
Respectfully submitted,

CLV:dt
96ARL-13

Claude L. Vickers State Auditor

CITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY - 1-

The notes to the general purpose financial statementsare an integralpart of this statement. -2-

FIDUCIARY FUND TYPE TRUST FUND

$

440.00

52,500.00

50.00

ACCOUNTGROUP GENERAL
LONG-TERM DEBT

TOTALS (Memorandum Only) JUNE 30, 1996 JUNE 30,1995

$ 5,483,317.67 $ 4,056,824.40

128,380.56

960,586.50

1,399,752.79

n9,270.72

3O,On.00 2,872.52

25,837.88 4,151.18

$

107,213.13

107,213.13

9,488.47

3,907,786.87

3,907,786.87

4,040,511.53

$

52,990.00 $

4,015,000.00 $ 11,059,400.54 $ 9,876,670.68

$

163,350.93 $

20,346.53

74,536.57

80,348.22

6,291.00

213,840.80

$

4,015,000.00

4,015,000.00

4,050,000.00

$

4,015,000.00 $ 4,473,019.30 $ 4,150,694.75

$

52,500.00

$

52,500.00

490.00

$

52,990.00

$

12,525.00

107,213.13 $

52,500.00

9,488.47 52,500.00

3O,On.00 2,872.52 3,709,798.96

25,837.88 4,151.18 3,954,326.32

$ 3,914,986.61 $ 4,046,303.85

4,621.58 2,666,n3.05

1,679,672.08

$ 6,586,381.24 $ 5,725,975.93

$

52,990.00 $

4,015,000.00 $ 11,059,400.54 $ 9,876,670.68

-3-

CITY OF VIDALIA BOARDOF EDUCATION TOOMBSCOUNTY COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUNP TYPES YEAR ENPEP JUNE30, 1996

REVENUES
StateFunds Federal Funds Taxesand Other Funds
Total Revenues
EXPENDITURES
Current Instruction Support services Pupil services Improvement of Instructional Services Educational MediaServices General Administration SChool Administration BusinessAdministration Maintenance and Operation of Plant Student Transportation services OtherSupportservices Food Services Operation Community 8erviceOperations OtherOperations of Non-Instructional services
capital Outlay Debt Service
Principal Interest
Total Expenditures
Excess of Revenues over(under) Expenditures
OTHER FINANCING SOURCES (USES)
AccruedInterest on BondsSold Proceeds from General Obligation Bonds . ParValue Operating TransfersIn Operating TransfersOut
Total OtherFinancing Sources (Uses)
Excess of Revenues and OtherFinancing Sources over(under) Expenditures and OtherFinancing Uses
FUND BALANCE JULY 1
Food Inventory - Net Change in Period Donated Commodities Purchased Food
FUND BALANCE JUNE 30

GENERAL FUND

SPECIAL REVENUE
FUND

CAPITAL PROJECTS
FUND

$ 8,066,551.95 $

67,182.00 $ 2,579,250.65

1,107,516,40

2,993,491 ,44

357,848.87

228,961.24

$ 11,060.049.39 $ 1,532,547.27 $ 2,808,211.89

$ 6,768,229.43 $ 487,070.51

307,116.37 1n,448.95 278,009.84 182,479.50 706.399.35 195,864,49 817,475,64 175,117,36
8,916.00
2,782.71 179.113,n
4.900.00

1,986.21 14,146,80

43,203.04

$ 412.82 5,412,34 615,86 785,357.51 133,082.92

-3,087.11

3.076,898,14

$ 9,803,853.41 $ 1,471.288,01 $ 3,073,811,03

$ 1,256,195,98 $

61.259.26 $ -265,599,14

$ -474.068,26 $ -474,068.26

$ 182,732,35 $ 182,732,35

$

782,127.72 $

61,259.26 $ -82,866.79

1,528,508,14

179,863.00 3,954,326,32

4,239.12 -1,278.66

$ 2,310,635.86 $ 244,082.72 $ 3,871,459,53

The notesto the general purpose financial statements arean integral partof this statement. -4-

EXHIBIT"B"

DEBT SERVICE
FUND

TOTALS (Memorandum Only)
YEAR ENDED JUNE 30,1996 JUNE 30,1995

$ 10,712,990,60 $ 7,665,532.03

1,107,516.40

1,172,383.89

$

844.42

3,581,145.97

3,599,488.73

$

844.42 $ 15,401,652.97 $ 12,437,384.65

$ 7,255,299.94 $ 6,917,089.67

309,102.58 191,595.75 278,009.84 225,682.54 706,399.35 192,m.38. 817,888.46 180,529.70
9,531.86 785,357.51 135,865.63 179,113.n 3,081,798.14

295,516.66 183,105.50 298,082.64 197,332.15 656,304.84 300,523.50 801,529.56 180,725.29
9,066.50 860,366.47 145,865.52 186,173.41
46.00

$ 35,000.00 159,455.67

35,000.00 159.455.67

253,223.94 16,979.25

$ 194,455.67 $ 14.543.408.12 $ 11,301,730.90

$ -193,611.25 $

858,244.85 $ 1,135,653.75

$ 291,335.91 $ $ 291,335.91 $

$
474,068.26 -474,068.26
0.00 $

9,449.22
4,050,000.00 46.00 -46.00
4,059,449.22

$ 97,724.66 $

858,244.85 $ 5,195,102.97

9,488.47

5,672,185.93

469,663.69

4,239.12 -1,278.66

6,650.54 768.73

$ 107,213.13 $ 6,533.391.24 $ 5.672,185.93

-5-

CITY OF VIDALIA BOARD OF EDUCATION TOOMBS COUNTY STATEMENT OF REVENUES, EXPENDITURES AND CHANGESIN FUND BALANCES
BUDGETAND ACTUAL (NON-GAAP BASIS) GENERALAND SPECIAl REVENUE FUNDS
YEAR ENDEDJUNE 30,1996

EXHIBITC

GENERAL FUND

ACTUAl

(BUDGET

BUDGET

BASIS)

REVENUES

State Funds Federal Funds TaxesandOther Funds

$ 7,870,526,00 $ 8,066,557.95 21,668.24
2,786,307.00 2,993,491.44

Total Revenues

$ 10,678,501,24 $ 11,060,049.39

EXPENDITURES

Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational MediaServices General Administration SchoolAdministration BusinessAdministration Maintenance and Operation of Plant StudentTransportation Services Other SupportServices Food Services Operation Enterprise Operations Community Service Operations OtherOperations of Non-Instructional Services
Capital Outlay

$ 6,938,187,92 $ 6,768,229.43

324,594.90 152,808.79 274,365.78 171,177.79 719,033.15 208,022.61 961,008.00 244,707,00
8,916.00

307,116,37 177,448.95 278,009.84 182,479.50 706,399.35 195,864.49 817,475.64 175,117.36
8,916.00

101,853.51 25,000.00

2,782.71 179,113.77
4,900.00

Total Expenditures

$ 10,129,675.45 $ 9,803,853.41

Excessof Revenues over (under)Expenditures

$ 548,825.79 $ 1,256,195.98

OTHER FINANCING SOURCES (USES)

Other Sources Other Uses

$

5,000.00

-591,335.91 $ -474,068.26

Total Other Financing Sources(Uses)

$ -586,335.91 $ -474,068.26

Excessof Revenues and Other Financing Sources over (under)Expenditures and OtherFinancing Uses $

-37,510.12 $

782,127.72

FUND BALANCEJULY 1, 1995

860,409.14 1,528,508.14

FoodInventory - Net Changein Period Donated Commodities Purchased Food

FUND BALANCE JUNE 30,1996

$ 822,899.02 $ 2,310,635.86

SPECIAl REVENUE FUND

ACTUAl

(BUDGET

BUDGET

BASIS)

$ 72,335.00 $ 67,182.00

1,141,740.76 1,107,516.40

453,210,00

357,848.87

$ 1,667,285.76 $ 1,532,547,27

$ 508,345.76 $ 487,070.51

3,600,00 25,611.00

1,986.21 14,146.80

46,046,00

43,203.04

300,00 2,938.00 1,150.00 955,418.56 12,000.00 147,693.98

412.82 5,412.34
615.86 785,357.51
133,082.92

$ 1,703,103.30 $ 1,471,288.01 $ -35,817.54 $ 61,259.26

$ 16,000.00 -16,000.00

$

0.00

$ -35,817.54 $ 61,259.26

175,776.24

179,863.00

4,239.12 -1,278.66

$ 139,958.70 $ 244,082.72

The notesto the general purpose financial statements are an integral part of this statement. -7-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY

EXHIBIT "0"

STATEMENT OF REVENUES. EXPENSES AND CHANGES IN FUND BALANCES

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND

YEAR ENDED JUNE 30. 1996

OPERATING REVENUE None Recorded
OPERATING EXPENSE Current Scholarships Operating Income (Loss)
NONOPERATING REVENUE Dividends Earned Total Income (Loss)
FUND BALANCE JULY 1
FUND BALANCE JUNE 30

ENDOWMENT FUND
SARA A. MURCHISON SCHOLARSHIP
FUND

TOTALS (Memorandum Only)
YEAR ENDED JUNE 30, 1996 JUNE 30, 1995

$

0.00 $

0.00 $

0.00

$

1,000.00 $

1,000.00 $

1,000.00

$

-1,000.00 $

-1,000.00 $

-1,000.00

200.00

200.00

860.00

$

-800.00 $

-800.00 $

-140.00

53,790.00

53,790.00

53,930.00

$ 52,990.00 $ 52,990.00 $ ======5=3=,7=9==0=.0=0=

The notes to the general purpose financial statements are an integral part of this statement. -8-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF CASH FLOWS
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND YEAR ENDED JUNE 30, 1996

EXHIBIT"E"

Cash Flows from Operating Activities: Cash Paid for Scholarships
Cash Flows from Investing Activities: Dividends Received on Investments
Net Increase (Decrease) in Cash
Cash and Cash Equivalents - July 1

ENDOWMENT FUND
SARA A. MURCHISON SCHOLARSHIP
FUND

TOTALS (Memorandum Only)
YEAR ENDED JUNE 30,1996 JUNE 30,1995

$

-1,000.00 $

-1,000.00 $

-1,000.00

200.00

200.00

1,080.00

$

-800.00 $

-800.00 $

80.00

1,240.00

1,240.00

1,160.00

Cash and Cash Equivalents - June 30

$

440.00 $

440.00 $==::::i:::1i:,:2=4=0=.0=p=

The notes to the general purpose financial statements are an integral part of this statement. . -9-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The CityofVidalia Board ofEducation(Board) was established under the laws ofthe State of Georgiaand operates under the guidance of a schoolboard electedby the voters and a Superintendent appointed by the Board. WIth the exception ofthe departures from generally accepted accounting principles disclosed in these notes, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to governmental units and unless otherwise disclosed in these notes, the financial statements present all of the fund types and account groups of the Board. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reportingstandards.
The more significant ofthe Board's accounting policies are described below.
REPORTING ENTITY
In evaluating howto define the governmental unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification ofGovernmental Accounting and Financial Reporting Standards, Section 2100, "Defining the Financial Reporting Entity". The primary government consists of all the organizations that compose the legalentityofthe Cityof Vidalia Board ofEducation.
Based uponthe application ofthe above criteria, the CityofVidalia Board ofEducationis determined to be the lowest level of government exercising oversight responsibility and control over all activities related to public education in the City of Vidalia, 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 and the ability to significantly influence operations. The Board determines the millage rate at which schooltaxes are levied and mayincurbonded indebtedness with voter approval.
FUND ACCOUNTING
TheBoardusesfunds andan account group to report on its financial position and the results ofits operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions relatedto certaingovernmental functions or activities.
A fund is a separate accounting entity with a self-balancing set ofaccounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds becausethey 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.
- 10 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL PURPOSEFINANCIAL STATEMENTS
JUNE 30, 1996
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Although "school activity accounts" are maintained at the individual schools, neitherthe assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected-in thesefinancial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements.
Thegeneral purpose financial statements account for all State, Federal, Taxes 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 andthe account group presented in this report are as follows:
GOVERNMENTALFUNDTYPES - are used to account for all or most of a Board's educational activities. Governmental Fund Types include:
GENERAL FUND - the fund usedto account for allfinancial resources ofthe Board except those required to be accounted for in another fund. Thesetransactions relate to resources obtained and used for services provided by a board of education.
SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (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.
CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of majorcapital facilities.
DEBT SERVICE FUND - the fund usedto account for the accumulation of resources for, and the payment of, general long-termprincipal, interest and paying agent fees.
FIDUCIARYFUND TYPE - the trust fund used to account for assets held by a government unit in a trustee capacity for individuals, private organizations, othergovernment units and/or other funds. This fund includes:
NONEXPENDABLETRUSTFUND Sara A. Murchison ScholarshipFund - the fund used to account for an endowment of which the corpus is to be invested andpreserved intact with the resultant income to be used to provide college scholarships to Vidalia CityHigh School Seniors.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for general obligation bonds outstanding.
- 11 -

CITY OF VIDALIABOARD OF EDUCATION- TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL PURPOSEFINANCIAL STATEMENTS
JUNE 30, 1996
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. Allgovernmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balanceis considered a measure ofavailable 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.
All nonexpendable trust funds are accounted for on a flow of economic resources measurement focus. With thismeasurement focus, all assets and liabilities associated with the operation of these funds are included on the balance sheet. Operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets.
Governmental funds are accounted for using the modified accrual basis ofaccountingunder which:
Revenues are recognized whensusceptible to accrual (i.e., whenthey becomeboth measurable and available). "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be usedto payliabilities ofthe current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Propertytaxes 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 of these contracts. During fiscal year 1996, a substantial numberof personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1995 and ending in early June 1996. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1995 and ending in August 1996. State grants to fund the State's share of these contracts were disbursed from the Georgia Department ofEducation to the Boardin the same twelve months. As of June30, 1996, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1996, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June30, 1996. Also, the State's portion of the compensation paid in July and August 1996 was received and recorded as revenue in the fiscal year subsequent to June 30, 1996. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1995, were recorded in the year ended
- 12 -

CITY OF VIDALIABOARD OF EDUCATION- TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 3D. 1996
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
June30, 1996. Generally accepted accounting principles require that revenuesbe recorded when available and measurable andthat expenditures be recorded whenincurred, ratherthanwhenfunds are receivedor disbursed.
The accrual basis of accounting, as required by generally accepted accounting principles, is utilized by nonexpendable trust funds. Under the accrual basis ofaccounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred.
BUDGET
The City of Vidalia Board ofEducation's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legallevelofbudget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles.
The budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper of general circulation in the.locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budgetis then submitted, in accordance withprovisions ofthe Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. The Board mayincrease or decreasethe budget at any time during the year. Allunexpended budget authoritylapses at fiscal year-end.
CASH AND CASH EQUIVALENTS
COMPOSITION OFDEPOSITS Cash and cash equivalents consist of deposits (including certificates of deposit and savings accounts) in authorized financial institutions. Georgia Lawsauthorize the Boardto deposit its funds in one or more solvent banks, insured Federal savings andloanassociations, or insured State chartered building and loan associations. The placement ofproceeds from bondissues in certificates of deposit is limited to financial institutions located withinthis State.
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. Donated investments are stated at fair market value as of the date donated. The Official Code of Georgia Annotated Section36-83-4 authorizesthe Board to invest its funds. In selecting among avenues ofinvestment or among institutional bids for deposits, the highest rate
- 13 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

ofreturn shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following:

(1) Obligations issued by the State of Georgia or by other states,

(2) Obligations issued by the United States government,

(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,

(4) Obligations of any.corporation ofthe United States government,

(5) Prime banker's acceptances,

(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury
and Fiscal Services,

(7) Repurchase agreements, and

(8) Obligations of other political subdivisions ofthe State of Georgia.

RECEIVABLES

Receivablesconsist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosedfrom informationavailable. 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 ofVidaliafixed the property tax levy for the 1995 tax year (calendar year) on October 18, 1995 (levy date). Taxes were due on December 20, 1995. The lien date for property taxes was January 1, 1995. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1996 since their collection meets the criteria ofGASB codification section P70.103. The City Clerk bills and collectsthe property taxes for the Board ofEducation and remits the balance oftaxes collected to the Board.

The tax millage rate levied for the 1995 tax year (calendar year) for the City of Vidalia Board ofEducation was as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations

15.0 mills

- 14 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30, 1996
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
INVENTORIES
FOOD INVENTORIES Inventories of donated food. commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations offund balance which indicates that these amounts do not constitute "available spendable resources" even though they are a component of net current assets.
GENERAL OBLIGATION BONDS
The Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond premiums and discounts, as well as issuance costs, are recognized during the year bonds are issued. 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 of interfund transactions:
Reimbursements ofexpenditures/expenses initiallymade from a fund that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed.
Operating transfers are recorded for all interfund transactions other than reimbursements.
MEMORANDUM ONLY - TOTAL COLUMNS
Total columns on the general purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations or cash flows in conformity with generally accepted accounting principles. Neither are such data comparableto a consolidation. Interfundeliminations have not been made in the aggregation of this data.
- 15 -

'CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "Fit NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
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. The aggregate ofthe face value of such surety bond and the market value ofsecuritiesshallbe equal to not less than 110 percent of the public funds being secured after the deduction of the amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts.
Acceptable security for deposits consists of anyone of or any combination of the following:
(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities ofthe State of Georgia,
(5) Bonds ofany public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and
(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.
CATEGORIZATION OF DEPOSITS At June 30, 1996, the bank balances were $6,904,489.15. 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.
- 16 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "FI! NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30, 1996

Note 2: DEPOSITS AND INVESTMENTS

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 pledgingfinancial 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, 1996, as follows:

Risk Category
1 2 3
Total
CATEGORIZATION OF INVESTMENTS Investments are classified as to risk by the three categories described below:

Bank Balance
$ 348,228.84 4,827,183.52 1.729,076. 79
$ 6,904.489.15

Category 1 - Insured or registered, or securities held by the Board or the Board's agent in the Board's name.
Category 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the Board's name.
Category 3 - Uninsured or unregistered, with securities held by the counterparty, or by its trust department or agent but not in the Board's name.

Funds invested in an investment pool managed by another government are not required to be categorized unless the investing entity owns specific, identifiable investment securities in the pool.

At June 30, 1996, the carrying amount ofthe Board's total investments was $128,380.56 and the market value of these investments was $101,630.56. The investments are classified as to risk categories as follows:

Type ofInvestment
U. S. Government Common Stock
Total

Risk Categories

2

3

s 75,880.56 s

0.00 s

0.00

52.500.00

s 12838056 s

o00 $===O~.O~O

Carrying Amount

Market - Value

s 75,880.56 s 75,880.56

52.500.00

25.750.00

s 12838056 $ 101.63056

- 17 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL PURPOSEFINANCIAL STATE:MENTS
JUNE 30. 1996

Note 3: NON-MONETARY TRANSACTIONS

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

Note 4: RISKMANAGE:MENT

TheBoard is exposedto various risks ofloss relatedto torts; theft of, damageto, and destructionof assets; errorsor omissions; job related illness or injuries to employees; natural disaster; unemployment compensation and dental insurance.

TheBoardhas obtained commercial insurance for risk ofloss associated with torts, assets, errors or omissions and job related illnesses or injuries to employees. The Board has neither significantly reduced coveragefor theserisks nor incurred losses (settlements) which exceeded the Board's insurance coveragein any ofthe past three years.

TheBoardhas elected to self-insure for all lossesrelated to natural disaster. The Board has not experienced . any losses related to this risk in the past three years.

TheBoardis self-insured withregard to unemployment compensation claims. The Board accounts for claims within the General Fund with expenditures and liability being reported when it is probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated.

Changes in the unemployment compensation claims liability during the last two fiscal years are as follows:

Beginning of Year -Liability

Claims and Changes in Estimates

Claims Paid

End of Year Liability

1995

s

0.00 s

1.926.00 $

s 1.926.00

0.00

1996

$

0.00 $

0.00 $

0.00 s

0.00

Additionally, the Board is self-insured with regard to employee and dependent dental claims. This program is funded through a combination of employer and employee contributions.

Beginning of Year Liability

Claims and Changes in Estimates

Claims Paid

End of Year Liability

1995

s

0.00 $ 81.545.32 $ 81.545.32 $

0.00

1996

$

0.00 s

77.467.89 $

77.467.89 $

0.00

- 18 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30, 1996

Note 5: GENERALLONG-TERMDEBT

The changes in General Long-Term Debt during the fiscal year ended June 30, 1996, were as follows:

General Obligation
Bonds

Balance July 1, 1995

$ 4,050,000.00

Additions

0.00

Deductions

35,000.00

Balance June 30, 1996

$ 4,015,00000

At June 30, 1996, payments due, by fiscal year which includes principal and interest for these items are as follows:

Fiscal Year Ended June 30

General Obligation
Bonds

1997 1998 1999 2000 2001 2002 and thereafter

$ 331,137.50 340,857.50 359,715.00 372,275.00 388,725.00
4,200.472.50

Total Principal and Interest

$ 5,993,182.50

Note 6: ON-BEHALFPAYMENTS

The Board hasrecognized revenues and expenditures in the amount of$155,289.87 for health insurance and retirement contributions paid on the Board's behalfby the following State Agencies.

Georgia Department ofEducation Paid to the State Merit System ofPersonnel Administration For Health Insurance ofNon-Certified Personnel In the amount ofS120,017.47

- 19 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996

Note 6: ON-BEHALF PAYMENTS

Paid to the TeachersRetirement System of Georgia For TeachersRetirement System (TRS) Employer's Cost In the amount ofSl0,609.40

Office ofTreasuryand Fiscal Services Paid to the PublicSchool Employees Retirement System For PublicSchoolEmployees Retirement (PSERS) Employer's Cost In the amount ofS24,663.00

Note 7: SIGNIFICANT COMMITMENTS

The following is an analysis of significant outstanding construction or renovation contracts executed by the Board as ofJune 30, 1996, together with funding available:

Project

Unearned Executed Contracts

Funding Available From State

94-793-082 Vidalia Middle School - Roadway Paving Project Vidalia Middle School - Parking AreaPaving Project Vidalia High School- HVAC Modifications - Contract 1 Vidalia High School - HVAC Modifications - Contract 2 Vidalia High School - Reroofing Project

S 1,441,811.81 S 54,564.00 102,432.00 596,552.75 28,832.00 42.735.00
s 2,266,927.56 s

300,183.00 27,837.90 58,010.10
386,031.00

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

Note 8: CONTINGENT LIABILITIES

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

- 20 -

CITY OF VIDALIABOARD OF EDUCATION - TOOMBS COUNTY EXIllBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 9: RETIREMENT PLANS
TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)
TRS PLAN DESCRIPTION Substantially allteachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system(PERS).
TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. A member is eligible for service retirement-after 30 years of creditable service, regardless ofage, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution of the member's monthly pensionat 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 ofemployer contributions occurs, but the member's contributions are refunded with interest.
TheBoard's payroll for employees covered by TRSfor the yearended June30, 1996, was $6,769,888.23; total payroll was $7,509,440.64.
TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Boardwho are covered byTRS are required by State statute to contribute 5% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS BoardofTrustees in accordance with Statestatute andas advised bytheir independent actuary. For fiscal year 1996 that rate for employer contributions was 11.81%. The interest rate assumption (rate ofretum on investments) was 7.50%.
Totalcontributions made during fiscal year 1996 amounted to $1,138,018.32, of which $799,523.84 was made by the Board and $338,494.48 was made by employees. These contributions represented 11.81%(Board) and 5% (employees) of covered payroll.
- 21 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30, 1996

Note 9: RETIREMENT PLANS

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 GovernmentalAccounting 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 obligationwas adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers.

Total unfunded pension benefit obligation ofTRS as ofJune 30, 1995, was as follows:

Total pension benefit obligation

$17,442,607,000.00

Net assets available for benefits, at cost Unfunded pension benefit obligation

15,857,066,000.00
s 1.585.541.000.00

The measurement ofthe total pension benefit obligation is based on an actuarial valuation as of June 30, 1995. 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, 1996 were $607,275,000.00. The Board's contribution for the year ended June 30, 1996 of $799,523.84 was actuarially determined and represented .1317% of total contributions made by all participating employers.

Ten year historical trend information is presented in the 1996 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due.

PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS)

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

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

- 22 -

.CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXIDBIT "F" NOTES TO THE GENERAL PURPOSEFINANCIAL STATEMENTS
JUNE 30, 1996
Nme9: RETIffiEMENTPLANS $8.00 per month multiplied by the number of years of creditable service. Optionsare available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. Retirement provisions include death anddisability benefits. Disability benefits are the same as if the employee hadretired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent uponthe number ofyears of service. If there are less than ten years of service, a lump sum refund ofthe employee's contributions and interest are madeto the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life halfof what the employee would have received upon retirement. Members becomefully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, butthe member's contributions are refunded with interest. There were 56 employees coveredunder PSERS for the year endedJune 30, 1996. PSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by Statestatute to contribute $4.00 a month for the ninemonth school year. Unlike TRS, the Boardmakes no contribution to PSERS. The Stateof Georgiais required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board ofTrustees. Total contributions from employees of theBoardmade during fiscal year 1996 amounted to $1,708.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1996, was $9,817,769.80. Note 10: SURETYBONDS The School Superintendent, Dr. Robert T. Smith, is bonded in the amount of $50,000.00 with the Fidelity and Deposit Company of Maryland, Baltimore, Maryland, their Bond No. 30580352, on which premium was paid through July 1, 1996.
- 23 -

CITYOF VIDALIA BOARDOF EDUCATION - TOOMBS COUNTY COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1996

ASSETS Cashand Cash Equivalents Accounts Receivable Inventories
Food DonatedCommodities Purchased Food
Total Assets
LIABILITIES AND FUND EQUITY LIABILITIES
Cash Overdraft Accounts Payable Salaries Payable
Total Uabilities FUND EQUITY
Fund Balances Reserved For Inventories Food Donated Commodities Purchased Food
Unreserved Undesignated Total Fund Equity
Total Liabilities and Fund Equity

SCHOOL FOOD
SERVICES FUND
s 233,529.64

CHILD CARE PROGRAM

ELEMENTARY AND SECONDARY

TITLE I

GRANTS TO

TITLE II

LOCAL

EISENHOWER

EDUCATIONAL PROFESSIONAL

AGENCIES

DEVELOPMENT

$

14,739.57

15,083.37 $

14,463.93

39,168.61 $

862.79

30,077.00 2,872.52

$ 281,562.53 $

14,463.93 $

53,908.18 $

86~.7_9

$ $ 11,827.34
30,676.32
$ 42,503.66 $

9,440.08 $
9,440.08 $

$ 13,128.31 40,779.87
53,908.18 $

862.79 862.79

$ 30,077.00 2,872.52
$ 32,949.52 206,109.35 $
$ 239,058.87 $

5,023.85 $ 5,023.85 $

0.00 $ 0.00 $

$ 281,562.53 $

14,463.93 $

53,908.18 $

0.00 0.00
862.7_9

See notes to the generalpurposefinancial statements.

- 24-

EXHIBIT"G"

EDUCATION ACT TITLE VI
INNOVATIVE EDUCATION PROGRAM STRATEGIES

INDIVIDUALS WITH DISABILITIES
EDUCATION ACT PARTB
SPECIAL EDUCATION FLOW
THROUGH

VOCATIONAL EDUCATION
FEDERAL

TOTALS JUNE 30, 1996 JUNE 30, 1995

$

0.00

$

0.00 $ 248,269.21 $ 194,060.53

$

21,842.63

91,421.33

55,465.55

30,077.00 2,872.52

25,837.88 4,151.18

$

0.00 $

21,842.63 $

0,;,,;,.0.;.0 $ 372,640.06 $ 279,515.14

$

17,634.57

1,127.68

3,080.38

$----~..;;.2.1;,8.4;2;.6;3~

$

27,937.44 $

26,083.33

74,536.57

471.79 18,832.13 80,348.22

$ 128,557.34 $_--.,99;,;65.2=.1~4~

$

0.00 $

$

0.00 $

$

0_.0_0 $

0.00 $ 0.00 $

$
$ 0.00 0.00 $

30,077.00 $ 2,872.52
32,949.52 $ 211,133.20 244,082.72 $

25,837.88 4,151.18
29,989.06
149,873.94 179,863.00

2.1.,.8.4.2..6._.3 $ _ _.....0...0...-0 $ 372,640.06 $ 279,515.14

- 25-



CITYOF VIDALIA BOARDOF EDUCATION - TOOMBS COUNTY

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

SPECIAL REVENUE FUND

YEAR ENDEDJUNE 30, 1996

FUND BALANCE JUNE 30

$ 239,058,87 $

5,023.85 $

0.00 $

..0...,.0..0...

See notes to the general purpose financial statements.

- 26-

EXHIBIT"H"

EDUCATION ACT TITLE VI
INNOVATIVE EDUCATION PROGRAM STRATEGIES

INDIVIDUALS WITH DISABILITIES
EDUCATION ACT PARTB
SPECIALEDUCATION FLOW
THROUGH

VOCATIONAL EDUCATION
FEDERAL

TOTALS YEAR ENDED JUNE 30,1996 JUNE 30.1995

$

16,783.00 $

$

16,783.00 $

50,242.63 $ ..;;.5..0..;;.24.;.;;2;.;.6.;.3 $

$ 37,929.00

67,182.00 $ 1,107,516.40
357,848.87

237,653.54 1,107,910.89
359,012.60

37.929.00 $ 1,532,547.27 $ 1,704,5n.03

$

16,744.26 $

38.74

.$

16,783.00 $

$

0.00 $

0.00

$

.....0...0...0.. $

37,792.25 $ 1,286.21 5,890.28 139.55
5,134.34
50,242.63 $ 0.00 $ 0.00

37,929.00 $ 487,070.51 $ 635,153.81

37,929.00 $

1,986.21 14,146.80
43,203.04
412.82 5,412.34
615.86 785,357.51 133,082.92

3,038.15 39.044.46 24,750.23 40,449.74
316.40 167.09 1,374.02
860,366.47 106.204.80

s 1.471,288.01 1,710.865.17

0.00 $

61,259.26 $

-6,288.14

0.00

179,863.00

178,731.87

4.239.12 -1,278.66

6,650.54 768.73

....;0;,;;;.0;.;.0 $

s 0~ .00 $ 244,082.72

179.863.00

- 27-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBSCOUNTY COMBINING BALANCE SHEET CAPITAL pROJECTS FUND JUNE30 1996

EXHIBIT"I"

ASSETS cash and cash equivalents Investments Accounts Receivable

REGULAR

1995 BOND ISSUE
FUND

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION
PROJECT 94-793-082

TOTALS JUNE 30, 1996 JUNE 30,1995

$ 164,392.92 $ 3,532,457.10

$ 3,696,850.02 $ 3,009,294.35

75,880.56

75,880.56

908,086.50

3,558.65

117,129.62 $

432,000.71

552,688.98

36,945.47

Total Assets

$ 167,951.57 $ 3:725,467.28 $

432.000.71 $ 4,325.419.56 $ 3,954,326.32

LIABILITIES AND FUND EQUITY

LIABILITIES

cash Overdraft Accounts Payable Contracts Payable Retainages Payable
Talai liabilities

$

$ 6,291.00 $ 15,668.32

$

s 6,291.00

15,668.32 $

FUNPEQUITY

Fund Balances Reserved For Purposes of BondIssue Unreserved Undesignated
Total Fund Equity

s 3,709,798.96

$ 161,660.57

$

s s $ 161,660.57 3.709.798.96

100,592.83 $ 133,235.40
198.172.48
432,000.71 $

100,592.83 133,235.40
6,291.00 213,840.80
453,960.03

$ 3,709,798.96 $ 3,954,326.32

0.00

161,660.57

s 0.00 3,871,459.53 $

0.00 3.954,326.32

Talal Liabilities and FundEquity $ 167.951.57 $ 3,725.467.28 $

432.000.71 $ 4,325,419.56 $ 3.954.326.32

Seenotesto the general purpose financial statements.

-28-

CITY OF VIDALIA BOARD OF EDUCATION TOOMBS COUNTY COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES
CAPiTAL PROJECTS FUND YEAR ENpED JUNE 30, 1996

EXHIBIT"J"

FUND BALANCE JUNE 30

$ 161,660,57 $ 3,709,798.96 $

~O;;:;.OO~ $ 3,871,459,53 $

3,954,326.32

See notes to the general purpose financial statements.

- 29-

CITY OF VIDALIA BOARD OF EDUCATiON - TOOMBS COUNTY SCHEDULE OF FEDERALFINANCIAL ASSISTANCE YEAR ENDED JUNE 30, 1996

SCHEDULE "1"

FUNDING AGENCY PROGRAM/GRANT
Agriculture, U. S. Departmentof Through G~orgia Department of Education Food and Nutrition Program Child and Adult Care Food Program 1996 Grant Food Services School Breakfast Program 1996 Grant National SchoolLunch Program 1996 Grant Food Distribution Program (1)
Total U. S. Department of Agriculture
Education, U. S. Department of Through Georgia Department of Education Elementary and Secondary Education Act Title I Grantsto Local Educational Agencies 1996 Grant State Program Improvements 1996 Grant Title \I Eisenhower Professional Development 1996 Grant Title VI Innovative Education Program Strategies 1996 Grant Individuals with Disabilities Education Act Part B - Special Education Flow Through 1996 Grant Vocational Education - Basic Grants to States High School Program Basic Grant 1996 Grant Tech-Prep Education 1996 Grant
Total U. S. Department of Education

CFDA NUMBER

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

10.558 $

2,955.37

(2)

10.553
* 10.555 10.550
$

68,207.48
386,653.97 $ 82,389.94
540,206.76 $

(2)
702,967.57 (3) 82,389.94
785,357.51

* 84.010 $ 84.218

439,168.61 $ 1,283.55

439,168.61 1,283.55

84.281

7,162.79

7,162.79

84.298

16,783.00

16,783.00

84.027

50,242.63

50,242.63

84.048 84.243
$

27,929.00 10,000.00 552,569.58 $

27,929.00 10,000.00 552,569.58

See notesto the general purpose financial statements. - 30 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE YEAR ENDED JUNE 30. 1996

SCHEDULE "1"

FUNDING AGENCY PROGRAM/GRANT
Health and Human Services, U. S. Department of Through Georgia Department of Human Resources Dependent Care Program 1996 Grant

CFDA NUMBER

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

93.673 $

14,740.06

(4)

Total Federal Financial Assistance

$ 1,107,516.40 $

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

1,337,927.09

(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system dUring the current fiscal year.
(2) Expenditures for the School Breakfast Program and the Child and Adult Care Program were not maintained separately and are included in the 1996 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.

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

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY CASH AND CASH EQUIVALENTS JUNE 30. 1996

SCHEDULE "2"

INTEREST BEARING ACCOUNTS
Darby Bank and Trust, Vidalia, Georgia
Certificates of Deposit No. 9548 (6.30%) No. 9549 (6.30%) No. 9553 (6.75%)
First Community Bank, Vidalia, Georgia
Checking Account (3.34%) Certificates of Deposit
No. 2952 (5.30%) No. 2953 (5.30%) No. 2993 (5.75%)
Montgomery County Bank, Ailey, Georgia
Checking Accounts (3.34%) Certificates of Deposit
No. 98240 (6.50%) No. 98241 (6.50%)
Vidalia Federal Savings and Loan Association, Vidalia, Georgia
Passbook Savings Account (4.00%)

$ 87,000.00 638,000.00 551,000.00 $ 1,276,000.00

$ 197,238.18
205,797.26 308,695.89 316,517.30

1,028,248.63

$ 2,731,840.20
199,500.00 199,500.00

3,130,840.20

48,228.84

$ 5,483,317.67

See notes to the general purpose financial statements.

- 32 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY INVESTMENTS JUNE 30. 1996
U. S. GOVERNMENT OBLIGATIONS
Edward D. Jones and Company Maryland Heights, Missouri
U. S. Treasury Note No. 912827J45 due January 31, 1998 (5.625%)
STOCK
Savannah Food and Industries, Incorporated Common Stock 2000 Shares (Fair Market Value as of Date of Donation) (Market Value $25,750.00)

SCHEDULE "3"
$ 75,880.56 52,500.00
$ 128,380.56

See notes to the general purpose financial statements.

- 33 -

CITY OF VIDALIA BOARPOF EPUCATION - TOOMBSCOUNTY ACCOUNTS RECEIVABLE JUNE30 1996

GOVERNMENTAL FUNDTYPES

SPECIAL

CAPITAL

GENERAL REVENUE PROJECTS

FUND

FUND

FUND

FIDUCIARY FUNDTYPE TRUST FUND

TOTAL

Agriculture, U. S. Department of Through Georgia Department of Education Food and Nutrition Program ChildandAdult care Food Program

$

335.21

$

335.21

Cityof VIC!aIia CityWide SChool Tax

$ 731,610.40

731,610.40

Education, Georgia Department of FoodseMces SChool Breakfast Program National SChool LunchProgram Federal Programs Elementary and Secondary Education Act TIt!e I Grantsto Local Educational Agencies TIt!e II Eisenhower Professional Development Individuals with Disabilities Education Act PartB - Special Education FlowThrough

10,833.53 3,541.13
39,168.61 862.79
21,842.63

10,833.53 3,541.13
39,168.61 862.79
21,842.63

First DistrictRegional Educational Service Agency Rental Payment

1,112.50

1,112.50

Georgia SchooI-Age care Association Dependent care GrantFunds

798.00

798.00

Georgia StateFinancing and Investment Commission Reimbursement for Construction Projects

$ 432,000.71

432,000.71

Georgia Department of Human Resources Dependent CareProgram

6,466.93

6,466.93

Lyons Elementary School Pre-KTransportation

6,000.00

6,000.00

Savannah Foodsand Industries, Incorporated Dividends

$

50.00

50.00

Toombs CountyDepartment of Family and Children Services Child Care Payments

2,604.00

2,604.00

Transportation, Georgia Department of Paving Contract

3,558.65

3,558.65

Various Sources Interest Earned Reimbursement for Expenses Tuition Earned

16,092.59 n6.99

373.50 4,595.00

117,129.62

133,222.21 1,150.49 4,595.00

$ 755,592.48 $ 91,421.33 $ 552,688.98 $=====50==.00=,= $ 1,399,752.79

Seenotesto the general purpose financial statements.

- 34 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY DEBT SERVICEREqUIREMENTSTO MATURITY JUNE 30.1996

SCHEDULE "5"

PAYMENTS DUE IN FISCALYEAR ENDING JUNE 30
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

TOTAL DEBT SERVICE

1995 ISSUE

INTEREST

PRINCIPAL

$ 331,137.50 $ 211,137.50 $ 120,000.00

340,857.50

205,857.50

135,000.00

359,715.00

199,715.00

160,000.00

372,275.00

192,275.00

180,000.00

388,725.00

183,725.00

205,000.00

408,782.50

173,782.50

235,000.00

427,150.00

162,150.00

265,000.00

448,767.50

148,767.50

300,000.00

468,317.50

133,317.50

335,000.00

475,730.00

115,730.00

360,000.00

481,470.00

96,470.00

385,000.00

490,487.50

75,487.50

415,000.00

497,455.00

52,455.00

445,000.00

502,312.50

27,312.50

475,000.00

$ 5,993,182.50 $ 1,978,182.50 $ 4,015,000.00

CHANGES IN GENERAL LONG-TERM DEBT BondsPayable at July 1, 1995 Bonds Retired During Period

$ 4,050,000.00 -35,000.00

Bonds Payable at June 30,1996

$ 4,015,000.00

MATURITY DATES Semi-Annual InterestPayment Dates Annual Debt Retirement Date

FEB 1 -AUG 1 FEB 1

See notesto the general purpose financial statements. - 35 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 1996

SCHEDULE "6"

AGENCYIFUNDING
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 Pup" Transportation Regular Bus Replacement . Umited English Speaking In-School Suspension Counselors Grades 4 - 5 Migrant Mid-term Adjustment Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Apprenticeship Program At-Risk Summer SChool Program Health Insurance Innovative Programs Remedial Summer School Program Teachers'Retirement
Georgia State Financing and Investment Commission Reimbursement on Construction Projects
Office of Treasury and Fiscal Services Public Schools Employees Retirement
CONTRACTS Education, Georgia Department of Student Information Systems Project
Transportation, Georgia Department of Middle School Paving Project

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

$ 5,127,576.00

$

638,578.00

258,183.00

218,991.00

67,621.00

1,449,126.00

120,495.00 35,165.00 25,765.00 76,816.00 15,081.00
2,501.00 -821,616.00 652,245.00
$ 5,949.00

67,182.00

15,000.00 14,091.41 120,017.47 3,100.00 5,600.67 10,609.40

24,663.00

$ 2,575,692.00

1,000.00

3,558.65

TOTAL
5,127,576.00 638,578.00 258,183.00 218,991.00 67,621.00
1,449,126.00
120,495.00 35,165.00 25,765.00 76,816.00 15,081.00 2,501.00 -821,616.00 652,245.00 67,182.00 5,949.00
15,000.00 14,091.41 120,017.47 3,100.00 5,600.67 10,609.40
2,575,692.00
24,663.00
1,000.00
3,558.65

$ 8,066,557.95 $

67,182.00 $ 2,579,250.65 $ 10,712,990.60

See notes to the general purpose financial statements.

- 36 -

"

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY

SCHEDULE OF TAXES AND OTHER REVENUE

YEARENDED JUNE 30,1996

SCHEDULE "7"

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE PROJECTS

FUND

FUND

DEBT SERVICE
FUND

TOTAL

Taxes City Wide School Tax

$ 2,597,389.94

$ 2,597,389.94

Other Sources Child Care Fees Conbibutions from Other Funds For Dental Claims Indirect Cost Special Revenue Fund Interest Earned Lost and Damaged Books Pro-Rata Share of Vocational High School Operations Treutlen County Board of Education Reimbursements for Salaries Brewton Parker College Georgia State University Montgomery County Board of Education Toombs County Board of Education Vidalia High School Rents Sales Breakfast and Lunches School Assets Tuition Other

$ 112,608.20

82,641,50

7,572.79
75,4n.39
3,682.98

6,646.85 $ 228,961.24 $

844.42

112,608.20
82,641.50
7,572.79 311,929.90
3,682.98

61,185.31
2,000.00 1,100.00 3,250.00 1,500.00 38,566.10
813,80
443.00 94,642.48 23,226.15

238,593.82

61,185.31
2,000.00 1,100.00 3,250.00 1,500.00 38,566.10
813.80
238,593.82 443.00
94,642.48 23,226.15

$ 2,993,491.44 $ 357,848.87 $ 228,961.24 $

844.42 $ 3,581,145.97

See notes to the general purpose financial statements.

- 37 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF EXPENDITURES BY OBJECT GENERALAND SPECIALREVENUE FUNDS YEAR ENDED JUNE 30, 1996

SCHEDULE"8"

EXPENDITURES
Operating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Travel of Board Members Water, Sewer and Cleaning Services Repairand Maintenance Services Rents Insurance Communications Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books,Textbooks and Periodicals Dues and Fees InterestExpense Federal Indirect Costs Other Expenditures
Nonoperating Costs Equipment

GENERAL FUND

SPECIAL REVENUE
FUND

TOTAL

$ 6,801,599,04 $ 1,704,981.68 16,354.73 27,803.81 582.92 24,511.34 98,735.65 479,42 115,295.65 52,605,59
8,916.00 22,768.31 363,939,42 296,507.98
149,654,43 14,437.75 135.58
15,627,14

707,841.60 $ 160,561.49
6,642.10 39,591.58
400.00 444.11
14.67
5,337,38 5,459.88
2,027.17 72,973.84
70.00 385,609.52
4,483.29 3,375.33
7,572.79 4,638.31

7,509,440.64 1,865,543.17
22,996.83 67,395.39
582.92 24,911.34 99,179.76
494.09 115,295.65 57,942.97
5,459.88 8,916.00 24,795.48 436,913.26 296,577.98 385,609.52 154,137.72 17,813.08
135.58 7,572.79 20,265.45

88,916,97

64,244.95

. 153,161.92

Total Expenditures

$ 9,803,853,41 $ 1,471,288.01 $ 11,275,141.42

See notesto the general purpose financial statements. - 38 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1996

SCHEDULE "9"

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

THIRTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

100% TEST FOR OPERATIONS PORTION OF THIRTEEN WEIGHTED PROGRAMS

$ 6,243,328.00 $ _ _--1:92.,.6;3:2.=0=0~

$ 6,275,800.31 466,851.14 $ _ _ 423,119.42 ---.;;;...;..:..;...;...;.;..;=
$ 6,742,651.45

-50,905.12 $ 6,691,746.33

$

0.00 $====::=::::::0:.=00=

See notesto the general purpose financial statements. - 39 -

CITY OF V![)AI.IA BOARD Of EDUCATION TOOMBS COUNTY ANALySIS OF MINIMUM EXPENDITURE REQUIREMENTS By fBOGBAM
GENERAL FUND QUAlITY BASIC EDUCAIION PROGRAMS
\'EAR ENDED JUNE 30, 1996

GENERAl. AND CAREER EDUCATION PROGRAMS
Kindergarten r>
Grades 1 3 r> Sub-lola! K-3
Grades45r> Grades 6 8 r> Grades 9 12 r> High School Laboratories r> Vocational Education Laboratories r>
Iotal General and Career Education Programs
SPECIAL EDUCATION PROGRAMS Regular Programs' Category I r> Category IIr> Category III r> CetegorylVr> Sub-Iotal Regular Cetegexy V (Gifted) r> Iotal Speciel Education Programs
o REMEDIAL EDUCATION PROGRAM
Iotal Thirteen Weighted Programs
MEDIACENTER PROGRAMS Salaries Operations Iotal Media Canter Programs

AlLOTMENTS FROM DEPARTMENT OF EDUCATION

REQUIRED

ORIGINAL.

'I(,

ORIGINAL.

MID-TERM

$

564,013.00

$

507.611.70 $

1.264,940,00

1,138,446.00

$ 1,828,953.00 90 $ 1,646,057.70 $

686,804.00 90

618,123.60

1.116,&49.00 90

1,005,164.10

856,497.00 90

770,847.30

299,149.00 90

269,234.10

339,324.00 90

305,391.60

$ 5,127,576.00

$ 4,614,818.40 $

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

$

599,258.00

$

539,332.20 $

0.00

$

599,258.00 90 $

539,332.20 $

39,320.00 90

35,388.00

$

638,578.00

$

574,720~0 $

$

258,183.00 90 $

232,364.70 $

$ 6,024,337.00

$ 5,421,903.30 $

0.00 0.00 0.00 0.00 0.00

$

175,491.00 90 $

157,941.90 $

0.00

43,500,00 90

39,150.00

0.00

$

218,991.00

$

197,091.90 $

0.00

Iotal Ihirteen Weighted and Media Center Programs

$ 6.243,328.00

$ 5.618,995.20 $

0,00

SIAEE DEVEUJPMENI PROGRAMS Cos! of Instruction Professional Development
Iotal Staff Development r> identifIeS Ihirteen Weighted Programs.
See notes to the general purpose financial statements.

$

16,699.00

50,922.00

$

16,699.00 $

50,922,00

$

67.621.00 100 $

67,621.00 $

0.00 0.00
.....0..-.0-0.

40

SCHEDULE "10"

TOTAL REQUIRED

ACTUALEXPENDrnURES

SALARIES

OPERATIONS

TOTAL

AMOUNTOF UNDEREXPENDrnURE
FOR REQUIRED ALLOTMENT

$

507.611.70 $

433.066.48 $

24.638.57 $

457.705.05

1.138,446.00

1.148,m.07

63.994.00

1,212,n1.07

$ 1.646.057.70 $ 1,581,843.55 $

88,632.57 $ 1.670,476.12 $

0.00

618.123.60

627,281.53

44,984.91

672,266.44

0.00

1.005.164.10

1,308.327.85

62,991.78

1.371.319.63

0.00

nO.847.30

844.632.51

73.329.87

917.962.38

0.00

269,234.10

242.146.24

39.562.45

281,708.69

0.00

305.391.60

497,211.69

95,310.02

592,521.71

0.00

$ 4,614.818.40 $ 5.101,443.37 $

404,811.60 $ 5,506,254.97

$

539,332.20

$

75,968.17 $ 136,591.38 310,853.40 5O,8n.32

1.731.66 $ 3,275.57 7.839.91
578.33

rt, .83 139,866.95 318.693.31 51,455.65

$

539.332.20 $

574,290.27 $

13.425.47 $

587,715.74

0.00

35,388.00

69.870.10

924.00

70,794.10

0.00

$

574,720.20 $

644,160.37 $

14,349.47 $

658.509.84

$

232.364.70 $

304,032.17 $

3,958.35 $

307,990.52

0.00

$ 5.421,903.30 $ 6,049,635.91 $

423.119.42 $ 6,472.755.33

$

157,941.90 $

226,164.40

$

226,164.40

0.00

39.150.00

$

43.731.72

43,731.72

0.00

$

197,091.90 $

226,164.40 $

43,731.72 $

269,896.12

$ 5.618,995.20 $ 6.275,800.31 $

466.851.14 $ 6,742.651.45 $

0.00

$

16.699.00

50.922.00

$-----. . .67,621.00

$

13,779.84 $

13,779.84

54,433.29

54,433.29

$

68,213.13 $

68.213.13 $

. . .0..0. _0 .

- 41 -

CITYOF VIDALIABOARDOF EDUCATION - TOOMBSCOUNTY SCHEDULE OF TRAVELOF BOARDMEMBERS YEAR ENDEDJUNE 30, 1996

SCHEDULE"11"

BOARD MEMBER ADDRESS
Mr, T. Reid McArthur, Chairman (*) 700 Jackson Street Vidalia, Georgia 30474
Mr. John T. Hadden(*) 106 SunsetDrive Vidalia, Georgia 30474
Mr. Jeff Mercer(*) 917 Laurel Drive Vidalia, Georgia 30474
Ms. NancyPeterson 1612 CheneyDrive VldaUa, Georgia 30474
Ms, Virginia Sharp (*) P. O. Box 104 Vidalia, Georgia 30474
Mr. T. BuddyWest (*) 1800 Aimwell Road Vidalia, Georgia 30474
(*) Denotes Board Members Serving as of June 3D, 1996

$

121.54

417.38

44.00
$==:==:==5=8=2.=9=2

See notesto the general purposefinancial statements.

- 42 -

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
February 20, 1997

Honorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the City of Vidalia Board ofEducation
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladiesand Gentlemen:
We have audited the general purpose financial statements of the Cityof Vidalia Board ofEducationas of and forthe year ended June 30, 1996, and have issued our report thereon dated February 20, 1997. This report was qualified for a scopelimitation and for various departures from generally accepted accounting principles, as identified in the auditors report on the general purposefinancial statements.
Except as discussed in the following paragraph, 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 whetherthe general purpose financial statements are free of material misstatement.
We did not observe the taking of either the Federal donated commodities inventory or the purchased foods inventory at June 30, 1996, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.
Compliance withlaws, regulations, contracts, and grants applicable to the City of Vidalia Board ofEducation is the responsibility of the Board's management. As part of obtaining reasonable assurance about whetherthe general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance withcertain 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.
Theresults of our tests disclosed no instances of noncompliance that are required to be reported herein under Government Auditing Standards.
96CRL-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,

CLV:dt 96CRL-IO

Claude L. Vickers State Auditor

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

DEPARTMENT OF AUDITS
254 Washington Street. S.w., Suite 214 Atlanta, Georgia 30334-8400
February 20, 1997

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

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

Ladies and Gentlemen:

We have audited the general purpose financial statements of the City of Vidalia Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated February 20, 1997. This report was qualifiedfor a scope limitationand 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 Vidalia Board ofEducation'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, 1996:

(1) Political Activity

(5) Allowable Costs/Cost Principles

(2) Civil Rights

(6) Audit Follow-Up/Resolution

(3) Cash Management

(7) Administrative Requirements

(4) Federal Financial Reports

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

96CRL-40

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph ofthis report. With respect to items not tested, nothing came to our attention that caused us to believe that the City of Vidalia Board ofEducation had not complied, in all material respects, with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:dt 96CRL-40

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
February 20, 1997

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

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

Ladies and Gentlemen:

We have audited the general purpose financial statements of the City of Vidalia Board ofEducation as of and for the year ended June 30, 1996, and have issued our report thereon dated February 20, 1997. This report was qualifiedfor a scope limitationand 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 Vidalia 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 of Effort, 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, 1996. The management ofthe City of Vidalia 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.

96CRL-80

Except as discussed in the following paragraph, we conducted our audit of compliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and Office ofManagement and Budget (OMB) Circular A-128, "Audits of State and Local Governments". Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether materialnoncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the City of Vidalia Board of Education's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion.
We did not observe the taking of either the Federal donated commodities inventory or the purchased foods inventory at June 30, 1996, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventoriesthrough alternativeprocedures. However, this matter has no affect on the Board's compliance with the requirements listed in the second paragraph of this report.
In our opinion, the City ofVidaliaBoard ofEducation complied, in all material respects, with the requirements as disclosedin the second paragraph that are applicable to its major Federal financial assistance programs for the year ended June 30, 1996.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,

CLV:dt 96CRL-80

Claude L. Vickers State Auditor

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
February 20, 1997

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

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

Ladies and Gentlemen:

We have audited the general purpose financial statements of the City of Vidalia Board ofEducation as of and for the year ended June 30, 1996, and have issued our report thereon dated February 20, 1997. This report was qualified for a scope limitationand 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 1996 general purpose financial statements of the City of Vidalia Board of Education and with our consideration of the Board's control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (OMB) Circular A-128, "Audits of State and Local Governments", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1996. As required by OMB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements govermng:

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

96CRL-120

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance withthe requirements listed inthe second paragraph. With respect to items not tested, nothing cameto our attention that caused us to believe that the City of Vidalia Board ofEducation had not complied, in all material respects, with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
t:f~~
ClaudeL. Vickers State Auditor
CLV:dt 96CRL-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
February 20, 1997

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation
and Superintendent and Members of the City of Vidalia 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 of the City of Vidalia Board ofEducation as of and for the year ended June 30, 1996, and have issued our report thereon dated February 20, 1997. This report was qualifiedfor a scope limitationand for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
Except as discussed in the following paragraph, 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.
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1996, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.
The management ofthe City ofVidalia 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 of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and
96ICL-3

not be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because ofchanges in conditions or that the effectiveness ofthe design and operation of policies and procedures maydeteriorate.
In planning andperforming our audit ofthe general purposefinancial statements ofthe City of Vidalia Board ofEdueation for the yearended June 30, 1996, we obtained an understanding ofthe internal control structure. With respect to the internal control structure, we obtained an understanding ofthe design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to determine our auditing procedures forthe purpose of expressing our opinion on the general purpose financial statements and not to providean opinion on the internal control structure. Accordingly, we do not express such an opinion.
We noted a certain matter involving the internal control structure and its operationthat we considerto be a reportable condition under standards established by the American Institute of Certified PublicAccountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structurethat, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements.
As described in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category:
General Fixed Assets
A material weakness is a reportable condition in which the design or operation of one or more of the 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 structurewould not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition disclosed above is also considered to be a material weakness.
This condition was considered in determining the nature, timing, and extent of the procedures to be performed inour audit ofthe City of Vidalia Board of Education's financial statements and this report does not affect our report thereon dated February 20, 1997.
96ICL-3

This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter ofpublic record.
Respectfully submitted,

CLV:dt 96ICL-3

Claude L. Vickers State Auditor

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
February 20, 1997

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe City of Vidalia Board ofEducation
SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
Ladies and Gentlemen:
We have audited the general purpose financial statements ofthe City of Vidalia Board ofEducation as of and for the year ended June 30, 1996, and have issued our report thereon dated February 20, 1997. This report was qualified for a scope limitationand for various departures from generally accepted accounting principles, as identifiedin the auditor's report on the general purpose financial statements. We have also audited the City
ofVidalia Board ofEducation's compliancewith requirements applicable to major Federal financial assistance
programs and have issued our opinion thereon dated February 20, 1997.
Except as discussed in the following paragraph, 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 ofManagement and Budget (OMB) Circular A-128, "Audits of State and Local Governments". Those standards and OMB 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 Vidalia Board ofEducation complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program.
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1996, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.
In planning and performing our audit for the year ended June 30, 1996, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinions on the Board's general purpose financial statements and on its compliance with requirements applicable to
96ICL-5

major Federal financial assistance programs and to report on the internal control structure in accordance with QMB 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 ofthe general purpose financial statements in a separate report dated February 20, 1997.

Themanagement of the City of Vidalia Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling thisresponsibility, estimates andjudgments by management are required to assessthe 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 inaccordance 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 occurand not be detected. Also, projection of any evaluation of the structureto future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness ofthe design and operation of policies and procedures may deteriorate.

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

GENERAL REQUIREMENTS

SPECIFIC REQUIREMENTS

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

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

(5) Allowable Costs/Cost Principles

(4) Reporting

(6) Audit Foilow-Up/Resolution (7) 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 whether they havebeen placed in operation, and we assessed control risk.

96ICL-5

During the year ended June 30, 1996, the City of Vidalia Board of Education expended 75% of its total Federal financial assistance under major Federal financial assistance programs.
We performed tests of controls, as required by OMB 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 descnbed above that are applicableto each ofthe Board's major Federal financial assistance programs, which are identified in the Schedule ofFederal Financial Assistance. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion.
Our consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might constitute material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more ofthe internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not
be detected within a timely period by employees in the normal course of performing their assigned functions.
We noted no matters involvingthe internal control structure and its operation that we consider to be material weaknesses as defined above.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
?f'~~
Claude L. Vickers State Auditor
CLV:dt 96ICL-5

SECTION IV FINDINGS ANDIMPROPER OR QUESTIONED COSTS

CITY OF VIDALIABOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND IMPROPER OR OUESTIONED COSTS
YEAR ENDED JUNE 30. 1996
PRIOR YEAR
AUDIT FOLLOW-UPIRESOLUTION Salary Overpayment Financial Statements Finding Resolved Audit Control Number 7931-95-01
The auditreport for the year endedJune30, 1995, reported a salary overpayment of $148.62. During the year under review, reimbursement of the $148.62 was secured and deposited in the Board's GeneralFund.
AUDIT FOLLOW-UPIRESOLUTION Excessive Cash Balances Federal Financial Assistance Finding Resolved Audit Control Number 7931-95-02
The audit report for the year ended June 30, 1995, stated that a review of cash management procedures for the Elementary and Secondary Education Act, Title I - Grants to LocalEducational Agencies Program (CFDA 84.010) disclosed that cash draws utilizing DE Form 0147, "Quarterly Report ofExpenditures and Estimated Requirements for GrantFunds", were made in advance ofimmediate cash needs, resulting in the accumulation of excessive cash balances. For the yearunderreview, audit test of cash management procedures revealedno excessive cash balance accumulations by the Board.
PRIOR YEAR/CURRENT YEAR
GENERALFIXED ASSETS Fallureto Maintain GeneralFixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 7931-93-02
The audit report for the year ended June 30, 1995, noted that the management of the City of Vidalia Board of Education 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 withinthe 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 shouldbe taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. Thesesubsidiary records should include an inventory ofland, buildings and equipment owned by the
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CITY OF VIDALIABOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND IMPROPER OR OUESTIONED COSTS
YEARENDED JUNE 30. 1996 PRIOR YEAR/CURRENT YEAR GENERAL FIXED ASSETS Failure to Maintain General Fixed AssetsAccount Group Financial Statements Reportable Condition - Material Weakness AuditControlNumber 7931-93-02 Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. Note: The City ofVidalia 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 providecomments for inclusion in this report.
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