City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2001

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

SECTION I

FINANCIAL

INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATIONSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS

EXHIBITS

GENERAL-PURPOSE FINANCIAL STATEMENTS

COMBINED STATEMENTS - OVERVIEW

A

COMBINED BALANCE SHEET

ALL FUND TYPES AND ACCOUNT GROUP

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

4

C

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

(NON-GAAP BASIS)

GENERAL AND SPECIAL REVENUE FUNDS

7

D

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 THE GENERAL-PURPOSE FINANCIAL STATEMENTS

10

ADDITIONAL FINANCIAL INFORMATION

COMBINING STATEMENTS

SPECIAL REVENUE FUND

G

COMBINING BALANCE SHEET

22

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

24

CAPITAL PROJECTS FUND

I

COMBINING BALANCE SHEET

26

J

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

28

DEBT SERVICE FUND

K

COMBINING BALANCE SHEET

30

L

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

31

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

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

I SCHEDULE OF EXPENDITURES OFFEDERAL AWARDS

32

2 SCHEDULE OF STATE REVENUE

34

3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS

35

ALLOTMENTS AND EXPENDITURES

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS (QBE)

4

BY PROGRAM

36

5

BY SITE

37

SECTION n
COMPLIANCE AND INTERNAL CONTROL REPORTS
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULARA-133

SECTION III AUDITEE'S RESPONSE TO PRJOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRJOR YEAR FINDINGS AND QUESTIONED COSTS

SECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS

SECTION I FINANCIAL

Rll~"'~U \\'. H .....TO"
STATE AUDITOR
(404) 656 2174

DEPARTMENT OF AUDITS AND ACCOUNTS
:2";4 WJ...hmglOn Streel, S W. ~UIIC 214 Allanta. Georgi' ~03~4-l'4()()
June 10, 2002

Honorable Roy E Barnes, Governor Members of the General Assembly Members of the State Board ofEducation
and Supenntendent and Members of the CIty ofVldaha Board of Education
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SupPLEMENTARY INFORMATIONSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Ladles and Gentlemen
We have audited the accompanymg general-purpose finanCial statements ofthe CIty ofVidalia Board of Education, as of and for the year ended June 30, 200 I, as hsted 10 the table of contents These general-purpose finanCial statements are the respoDSlblhty ofthe CIty ofVidalia Board ofEducation's management Our responslblhty IS to express an opinIOn on these general-purpose finanCial statements based on our audit
We conducted our audit 10 accordance With auditing standards generally accepted 10 the U10ted States of Amenca and the standards apphcable to financla! audits contamed 10 Government Auditing Standards, ISsued by the Comptroller General of the Uruted States Those standards require that we plan and perform the audtt to obtam reasonable assurance about whether the finanCial statements are free of matenall1llsstatement An audtt mcludes eXll.lIllrung, on a test baSIS, eVIdence supporting the amounts and dtsclosures 10 the finanCial statements An audit also 10cludes assess10g the accountmg pnnclples used and Slgruficant eStImates made by management, as well as evaluating the overall finanCial statement presentation We beheve that our audit prOVIdes a reasonable basiS for our 0plOlon
As descnbed 10 the notes to the general-purpose finanCial statements, the Board of Education's finanCial statements have been prepared usmg certam accountmg practices and pohcles which, m our oplOlon, vary m some respects from generally accepted accounting pnnclples These vanances are descnbed as follows

2001ARL-13

The general-purpose finanCIal statements of the Board of EducatIon did not contam a General FIxed Assets Account Group to account for property and eqUIpment owned by the Board of EducatIOn winch should be mcluded to conform to generally accepted accountIng pnnclples
School actiVIty accounts mamtamed at the indIVIdual schools are not Included In the general-purpose finanCial statements To conform to generally accepted accountIng pnnclples, these accounts should be mcluded 10 the general-purpose finanClal statements
The Board of Education did not recogruze as expendttures, 10 the year ended June 30, 2001, a portion of salanes and the correspondtng employer's cost of related benefits earned for contractual serVIces completed pnor to June 30, 200 I Also funds received, subsequent to June 30,2001, from the Georgia Department of EducatIon for the State's share of these unrecorded salanes and related benefits were not recorded as revenue 10 the year under reVIew Conversely, the slDlllar expendlt1lres and related revenues for contractual serVIces completed pnor to June 30, 2000, were lffiproperly recorded 10 the year ended June 30, 200 I To conform to generally accepted accountmg pnnclples, revenues should be recorded when avadable and measurable and expendtt1lres should be recorded when mC1lITed, rather than when funds are received or disbursed
The aggregate effects on the general-purpose finanCIal statements of these vanances or OnuSSlOns have not been deterrmned, but are beheved to be matenal
In our oplDlon, except for the effects on the general-purpose finanCIal statements of the matters referred to in the precedtng paragraph, the general-purpose finanCial statements referred to above present fwrly, 10 all matenal respects, the finanCial posItIon ofthe CIty ofVIdalia Board ofEducatIOn as of June 30, 2001, and the reSldts of ItS operatlons and the cash flows of Its nonexpendable trust fund for the year then ended, In confonruty WIth accounting pnnClples generally accepted In the Uruted States of America
In accordance WIth Government AudltlOg Standards, we have also ISSUed our report dated June 10, 2002, on our consIderation ofthe CIty ofVidalia Board ofEducation's IOternal control over finanCial reporting and our tests of ItS comphance WIth certam proVIsIOns oflaws, regulatIOns, contracts and grants That report IS an mtegral part ofan audtt performed 10 accordance WIth Government AudttJ.ng Standards and should be read 10 conjunction WIth tins report 10 considenng the reSldts of our audtt
Our audIt was performed for the purpose of forrmng an 0plDlon on the general-purpose finanCIal statements ofthe CIty ofVidallR Board ofEducation taken as a whole The accompanymg comblDlng statements (ExhibIts G through L) and the finanCial schedules (Schedules I through 5), which mcludes the Schedule ofExpenditures ofFederal Awards as reqUired by U S Office ofManagement and Budget CITcular A-133, Audits ofStates, Local Governments, and Non-Profit OrgatUzallO'~. are presented for purposes of additIOnal analysIs and are not a requITed part of the general-purpose finanCIal statements Such IOforrnation has been subjected to the auditing procedures apphed 10 the audtt of the general-purpose financial statements and In our OplruOn, except for the effects of the matters referred to 10 the thJrd paragraph, such information IS fwrly stated, In all matenal respects, In relation to the general-purpose finanCial statements taken as a whole
200 IARL-13

A copy ofthis report has been filed as a permanent record m the office ofthe State Auditor and made avaIlable to the press ofthe State, as proVIded for by OffiCIal Code ofGeorgIa Armotated SectIon 506-24
Respectfully submItted,
~~/ell..W...HaIntoln ~.~~ State AudItor
RWHas 200 1ARL-13

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY

CITY OF YlQAUA BOARD OF EDuCATIoN. TOOMBS COUNTY COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUp JUNE 30 2001

~ C8ah and cash Equrvaiants
11lVMUnOn" Accounts Receivable InventorIeS
Food
Donated CorTvnodrIJ..
Purt:haSedFood Amount AYallable In Debt Servk::e Fund
Amount to be PrtMded In Future Years For Paymanl at Bond Dabt
Total_

GENERAL FUND

GOVERNMENTAL FUNO TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

S

934,19172

S 1,411,91690 S

45,000 00

987,53947

450,13996

297,586 70

15,056 51 3794 40

S 2,299,355 37 S

513,99087 S 1,221,76842

LIABILITIES AND FUNQ EauITY
LlABlLmES
Cash Ovardroft Accounts Payabla 5aIanas Payabla
ExpIred Grant BaIancea Payabla
COntraClS Payabla Re1a,nages Payabla
Dalarred Ravenua
General Obltg8tlon Bonds Payabla
TotaIlJaI>l_
FUND EaUITY
Fund BaI"nces Reserved For Bus Raplacemanl Funds For Debt Serw::e For Endowment Corpui For Expired Grant IlaIanceaIQU8Itloned Colla For Inventones Food Donated Commodlbas Purd1aoed Food For purpose of Bond Issue For SPLOST Projads UnrlllIel'ied Unda8lgnated
Total Fund Equity

S

14,01074 S 157,43016

74061

25,574 11 S

17980

74226

103,168 87

2.022 9B

179,84517

39,234 85

10938 03

S

15,49361 S 299 134 15 S

21925982

S
S 228386176 S 2,2B3,861 76 S

1505651 3,794 40
S
196 DOS 81
214,856 72 S

168 355 07 80106613
3308740
1,002,50B 60

TolaIlIablhtlOl and Fund Eqllty

S

2299 355 37 S 1

The notes to the genelllll-purpoae finanaal statements are an Integral pIiIn of thIS .tateill6lt

513 99087 1

S

1221,768042

2

EXHIBIT ",."

DEBT SERVICE
FUND

FIDUCIARY FUND TYPE NONEXPENDABLE TRUST FUND

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS

(Memorandum Only)

JUNE 30, 2001

JUNE 30, 2000

$

15,64881 $

833 40 9168

$

95066393 $

1,456 908 58

60730705
no 645 55

1625,26513

1,281,666 90

$

1564881

319935119

15,056 51 3,794 40 15,648 81
3,199 35119

10,879 19 3,796 26
342000000

$

15,1;4881 $

92508 $

3,215000 00 $ 7266,688 55 $ 6094.294 95

$

17144090

26,494 52 $

26 970 18

10391113

98,80300

2022 98

17984517

39,234 85

10,938 03

$

321500000

3215,000 00

3,420 000 00

$

3215000 00 $ 3748,88T 58 $ 3,645,n318

$

15,64881

$

000

$

15,641881 $

$

1564881 $

92508
000 92508

$

36,928 00

$

15,648 81

925 08

639532

89375

15056 51 3,794 40
168,35507 801,068 13

10,87919 3,796 26
21002705 29729156

251295497

1982,31064

$ 3,517,800 97 $ 2648,521 n

92508 $

3,215.000 00 $ 7,268,688 55 $ 6.094:294 95

- 3-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINED STATEMENT OF REYJENUES EXPENDITURES AND CHANGES IN FUND BAlANCES
ALL GOYJERNMENTAL FUND TYPES
YEAR ENDED JUNE 30 2001

REYJENUES
State Funds Federal Funds Taxes Other Fund.
Tolal Revenues
EXPENDITURES
Current lnotructlon
Support selVlce.
PUPI' Servlces
Improvement of InalnJclJon8I Servtces Educabonal Mad.. ServIces
Genaral Admlnlstnltlon Sd1oo1 AdminIStration Business Admlnlstratkm
Maintenance and Operation of Plant
Student Transporta\K>n selVlCeS
Contral Support Servtces
Other Support SeIVlC8.
Food ServIces Operation
Communrty services Operabons Capital OJtlay
Debt service
Prinapal Interest PIIyV1g Agent Foes
Tolal Expendrtunla
Excass of Revenue. over (under) Expendrtures
OTHER FINANCING SOURCES IUSES>
Operabng Transfers In Qperabng Transfers 0Jt
Tolal Other F...nang SoIJrces (lJaes)
Excess of Revenues and Other Financing Sources over (under) ExpenchtuntS and Other Fnanang Uses
FUND BALANCE JULY 1
Food InventOlY - Net Change ,n Period Donated Commodtbes F'lJrchased Food

GENERAL FUND

SPECIAL REYJENUE
FUND

S 10,251,860 15 S
2,971,27890 565,76646
S 13,788,90551 S

117,57000 1,633,92821
238,27573
1,889,m94

S 9,056,151 40 S
501,94575 200,68717 372,72027 432,903 18 l,048,On50 161,060 02 897,73549 332,41065
709 50 26,31634
119,41057

803557 80 12,472 38
207,37623 67,896 22 7200
14,930 31
909,14501

S 13,150,12784 S

S

638,7n67 S

2,015,44995 -25,67601

S

34433

-111,938 41

S -111,59408

S

527,183 59 S

1,756,678 17

-25,67601 236,35727

4,ln32 -1 88

FUND BAlANCE JUNE 30

s

The notes to the general--purpose ftnandal stalementa are an 1fIteg:rat part of this statement

-4-

2,283,861 76 S _ ....2~1:.::4.:i,8:;:5~6:.72~

EXHIBIT "B"

CAPITAL PROJECTS
FUND

DEBT SERVICE
FUND

TOTALS

(Memorandum Only)

YEAR ENDED

JUNE 30, 2001

JUNE 30, 2000

S 1,178,23616 S 22,903 61
S 1,201,139n S

$
400,46317 5,04997

10,369,43015 $ 1,633,92821 4,549,97823 831,995 n

9,616,636 98 1,757,560 11 3,128,530 78
793,13134

405,51314 S 17,385,33236 S 15,295,85921

S 9,859,70920 S 9,729,871 82

S

659,660 59

514,41813 408,06340 372,720.27 500,79940 1,048,149 50 161,060 02 897,73549 347,340 96
70950 26,31634 909,14501 119,41057 859,660 59

723,988 74 341,01048 364,17555 47446331 1,00938942 143,37698 962,952 65 263,92337
38400 25,606 56 685,40647 98,629 56
442,144 ee

S

205,00000

183,72500

79500

205,00000 183,72500
79500

18000000 192,27500
79500

S

859,660 59 S

389,52000 S 16,414,75838 S 15,816,59579

S

341,47916 S

15,99314 S

970,573 98 S -522,736 56

S

111,93841

S

S

111,93841 S

S

463,417 59 S

549,091 01

S -344 33
-344 33 S

112.282 74 S -112,282 74
000 S

407,66940 -'107,669 40
000

15,64881 S 000

970573 98 $ 2,542,126 45

-522,736 56 3,073,003 30

4,ln32
-1 ee

-7,64767
-'192 eo

s 1.002,50860 S

15,648 61 S

2.542: 12645

-5-

CITY OF ViDAlIA BOARD OF EpUCATION - TOOMBS COUNTY
COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BAlANCES BUDGET ANp SPECIAl REVENUE FUNDS
YEAR ENDED JUNE 30 2001

EXHIBIT "C"

GENERAL FUND

ACTUAL

(BUDGET

BUDGET

BASIS)

REVENUES
State Funds Federal Funds TIlX88 0Ihef Funds

$ 9,999,63700 $ 10,251,86015

21131,892 30 366,50000

2,971,27690 565,76646

Total Revenues

$ 13,196,02930 $ 13,786,90551

EXPENDITURES

Curmrt I_on Support 5eMces PupdSorvlcea Improvement of Instructional Services EducalJonal MedIa 5ervIC8s GenoraJ Admln!llnlllon S<:hooI Adminislnl\tQn B u _ Adm.lIstratkx1 MalntanBr<:e and Qporallon 01 Plant Sludanl Transportation Servicas central SUpport SBrvIcas 0Ihef Support SBrvIces Food _ s QpermIon COmm...rty 5ervIC8s OperatIon.

$ 676M2286 $
740,90587 17083198 3&1,000 86 340,39723 1,013,230 70
180,~00
995,113100 3&1,066 00
12,000 00
100,00000

9,056,15140
501,U.575 200,68717 372,72027 .32,90316 1,048,077 50 161,060 02 697,735 .9 332,.1068
709 50 26316.3-4
119,.,057

Total ExpondIlureo

$ 13,065,11652 $ 13,150,12784

Excess 01 Roven- over (~) Expenditures $

132,91276 $

636,777 67

OTHER FINANCING SOURCES (USES)

0Ihef Sourt:as OIhefU....
Total 0Ihef Financing Sourt:as (Uses)

$

~33

-111,936.1

$ -111 ,5U. 06

Excess 01 Revenues BOO 0Ihef Financing Sourt:as

OYtI, (under) ExpendItures BOO 0Ihef Financing

U_

$

132,91276 $

FUND BAlANCE JULY 1 2000

1,736,729 33

527,16359 1,756,676 17

Adjustments Food Inventoly - Net Change '" Ponod Donetad Commochbes Pun:hasad Food

-ll79

FUNp BALANCE JUNE 3D 201

$ 1,869.641 32 $ 21 283[861 76

SPECIAl REVENUE FUND

ACTUAL

(BUDGET

BUDGET

BASIS)

$ 122,880 00 $ 117,57000

1,686 401 00

1633,92621

265,60000

236,27573

$ 2,07.,661 00 $ 1,969,mu.

$ 796 U.7 00 $ 80355780

12,600 00 232650 00

1H72 36 207,37623

57,106 00

67,696.22 7200

6,100 00

1.,93031

6,07600 939,19206
.00 00

909 1.501

$ 2,05M7306 $ 2,015,"995

$

21,407 U. $

-25,67601

$ 21,000 00 21,000 00

$

000

S

21,.07 ~ S

240 132 73

6,29-417

-25,67601 236,35727
.,177 32 -1 66

$ 267:834 84 $ 21",858 72

The no1lIIl to tho genoral-purpOsa llnanclalstetoments are an Inlegral part oItI"s sbllBi'_ 7

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY
STATEMENT.OF REVENUES, EXRENSES AND'CHANGES IN FUND BAlANCES FIDUCIARY FUND TYPE~ NONEXPENDABI:E TRUST FUND YEAR ENDED JUNE 30, 2001

EXHIBIT "0"

OpERATING REVENUES None Recorded
OpERATING EXPENSES Current ScholarshIps Operabng Income (Loss)
NONOPERATING REVENUES DIVIdends Earned Net Increase (Decrease) In the Fair Value of Investments Nonoperatrng Revenues Net Income (Loss)
FUND BALANCE JULY 1
FUND BALANCE JUNE 30

ENDOWMENT FUND
SARA A MURCHISON SCHOLARSHIP
FUND

TOTALS

(Memorandum Only)

YEAR ENDED

JUNE 30, 2001

JUNE 30, 2000

$

000 $

000 $

000

$

000 $

000 $

000

$

000 $

000 $

000

$

9168

$

-5,47024 $

-5,47024

-15,646 72

$

-5,47024 $

-5,470'24 $

-15,555 Q4

$

-5,47024 $

-5,47024 $

-15,555 Q4

6,395 32

6,395 32

21,950 36

$

92508 $

92508 $ _ _..::6:':13:;:9::,5~32,-

The notes to the general-purpose finanCIal statements are an Integral part of thIS statement
-s-

CIJY OF VIDALIA BOARD OF EDUCATION TOOMBS COUNJY
STATEMENT OF CASH FLOWS
FIPUCIARY FUNp JYPE NONEXPENDABLE TRUST FUND
YEAR ENDED JUNE 30. 2001

EXHIBIT"E"

Cash Flows from Operabng AclMtJes Cash Paid for Scholarships
Cash Flows from InvesM9 AclMtJes DNldends ReceN9d on Investments
Net Increase (Decrease) In Cash Cash and Cash EqUivalents July 1
Cash and Cash Equivalents June 30

ENDOWMENT FUND
SARA A MURCHISON SCHOLARSHIP
FUND

TOTALS

(Memorandum Only)

YEAR ENDED

JUNE 30. 2001

JUNE 30. 2000

$

000 $

000 $

000

$

000 $

000 $

9168

$

000 $

000 $

9168

83340

83340

74172

$

83340 $

833 40 $

.;:8;;;;33~40::..

The notes 10 the genera~purposefinanCIal statements are an Inlegral part of this sta1emenl - 9-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30 2QQ!

EXHIBIT "F"

Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
REPORTING ENTITY
The City ofVidalia Board ofEducalJon (School Dlstnct) was estabhshed under the laws ofthe State of GeorgIa and operates under the guidance of a school board elected by the voters and a Supenntendent appOInted by the Board The School DIstrict IS organized as a separate legal entIty and has the power to levy taxes and Issue bonds Its budget IS not subject to approval by any other entIty AccordIngly, the School DIstrIct IS a prunary government and COnsiStS of all the organIZatIons that compose ItS legal entIty
FUND ACCOUNTING
The School DIMct uses funds and an account group to report on Its finanCIal pOSItIOn and the results ofIts operalJons Fund accountIng IS deSigned to demonstrate legal comphance and to HId finanCIal management by segregatmg transactIons related to certaIn governmental functions or actiVItIes A fund IS a separate accountmg entIty WIth a self-balanCIng set of accounts An account group IS a finanCIal reportIng deVIce deSigned to prOVide accountablhty for certaIn assets and habilitIes that are not recorded In the funds because they do not dIrectly affect expendable avatlable finanCIal resources
General FIxed Assets are recorded as expendItures In the vanous funds at the tIme of purchase A General FIXed Assets Account Group IS not presently mamtaIned by the School DIstrict To conform to generally accepted accountIng pnnclples, a General Fixed Assets Account Group should be maIntaIned for reportIng the cost of assets acqUIred by governmental fund types
Although "school actIVIty accounts" are maIntatned at the mdIVIdual schools, neIther the assets, hablhtIes and fund equIty, nor the revenues, expenditures and changes In fund balances of these accounts are reflected In these finanCIal statements To conform to generally accepted accountmg prrnclples, these accounts should be recorded In the general-purpose finanCial statements
The general-purpose fmanclal statements account for all State, Federal, Taxes and Other funds under control of the School DiStrIct, In comphance WIth generally accepted accountIng prinCIples apphcable to governmental UnIts, unless otherwIse disclosed In these notes Funds and the account group presented In thIS report are as follows
GOVERNMENTAL FUND TYPES - are used to account for all or most ofa School DIstrIct's educatIonal actIVItIes Governmental Fund Types mclude
GENERAL FUND - the fund used to account for all fmanclal resources of the School District except those reqUired to be accounted for m another fund These transactIons relate to resources obtHlned and used for servIces prOVided by a board of educatIon

- 10-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30 2001

EXHIBIT "F"

NQte I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SPECIAL REVENUE FUND - the fund used to account fQr the proceeds of specific revenue sources (Qther than fQr majQr capital projects) that are legally restricted tQ expenditures fQr speCified purpQses These funds are received pnmartly frQm the GeQrgla Department Qf EducatlQn and frQm the Federal gQvernment tQ accQmplish speCific eduCallQnal Qbjectlves
CAPITAL PROJECTS FUND - the fund used tQ aCCQunt fQr fmanclal reSQurces tQ be used fQr the acqUlsltiQn Qr construCUQn Qf majQr caPltaJ faCilities
DEBT SERVICE FUND - the fund used tQ account fQr the accumulatIOn Qfresources fQr, and the payment Qf, generallQng-term pnnclpal, mterest and paymg agent fees
FIDUCIARY FUND TYPE - the fund used tQ account fQr assets held by a gQvernment UnIt In a trustee capacity Qr as an agent fQr indiViduals, pnvate QrgamzatlOns, Qther gQvernment umts and/Qr Qther funds ThiS fund mcludes
NONEXPENDABLETRUSTFUND Sara A. Murchison Scholarship Fund - the fund used tQ account fQr an endQwment Qfwhlch the CQrpus IS tQ be Invested and preserved mtact With the resultant Income tQ be used tQ proVide cQUege schQlarshlps tQ Vidalia City High SchQQl SemQrs
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - A fmanclal repQrtmg deVice used tQ account fQr general QbligauQn debt Qutstandmg
BASIS OF ACCOUNTING
The accounung and finanCial repQrllng treatment applied tQ a fund IS determined by rts measurement fQCUS All gQvernmentai funds are accounted fQr USing a current financial reSQurces measurement fQCUS With thiS measurement fQcus, only current assets and current liabilities generaUy are mcluded Qn the balance sheet Operating statements Qfthese funds present mcreases (1 e , revenues and Qther financmg sQurces) and decreases (I e ,expenditures and Qther financlDguses) m net current assets TheIr reported fund balance IS cQnsldered a measure of available spendable reSQurces
Liabilities which are expected tQ be financed frQm available spendable resources are repQrted as liabilities m the gQvernmentai funds Other habllilles, which are nQt expected to be financed frQm avaJlable spendable reSQurces, are repQrted m the General Long-Term Debt AccQunt GrQUP
All nQnexpendable trust funds are accQunted fQr Qn a flQW Qf econQmlC reSQurces measurement fQCUS With thiS measurement focus, all assets and hablhlles assQclated With the QperauQn ofthese funds are mcluded on the balance sheet Operatmg statements present Increases (e g ,revenues) and decreases (e g , expenses) m net tQtaJ assets

- II -

CITY OF \fIDALlA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE GENERAL'PURPOSE FINANCIAL STATEMENTS
JUNE 30. 200(

EXHIBIT"F"

Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

I.

Governmental funds are accounted for usmg the modified accrual basiS ofaccountmg under winch

I

Revenues are recogruzed when susceptIble to accrual (I.e., when they become both measurable and avaJlable) "Measurable" means the amount of the transactIon can be determmed and "avllllable" means collectible wltlun the current penod or soon enough thereafter to be used to pay hablhtles of the current penod. The School Dlstnct considers receivables collected wltlun SIXty days after yearend to be aVllllable and therefore susceptible to accrual Nonexchange transactions, m winch the School Dlstnct gives (or receives) value Without directly receIVIng (or giVing) equal value In exchange, \Delude property taxes, local option sales taxes, Intergovernmental grants and donations Revenue for property taxes is recognized m the fiscal year for winch the taxes are leVied Revenue from sales taxes IS recogruzed In the fiscal year the resources are received or susceptible to accrual Revenue from grants and donatIons IS recogruzed In the fiscal year In winch all ehglblhty requITements have been satisfied

Expenditures are generally recogruzed when the related fund habJllty IS Incurred

A departure from the above defirutIons IS the accounting treatment afforded the final two payments on General Fund teachers' and bus dnvers' contracts, and the resources aVllllable from the Georgia Department of Education for the State's share of these contracts Dunng fiscal year 2001, a substantial number ofpersormel ofthe School Dlstnct were employed for a one hundred and runety day penod beglnnmg In August 2000 and ending In early June 2001 Persormel contracts for thiS employment penod specify that compensatIon be pllld m twelve equal monthly payments beglnnmg In September 2000 and endmg In August 2001 State grants to fund the State's share of these contracts were disbursed from the Georgia Department of EducatIon to the School Dlstnct In the same twelve months As of June 30, 2001, compensatIon under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 2001, had not been made Payments for these two months were made and recorded as expenditures by the School DIstnct subsequent to June 30,2001. Also, the State's portion ofthe compensation paid In July and August 2001 was received and recorded as revenue In the fiscal year subsequent to June 30, 2001 Conversely, the Similar expenditures and related revenues for contractual seTVJces completed pnor to June 30, 2000, were recorded In the year ended June 30, 2001. Generally accepted accounting pnnclples reqwre that revenues be recorded when aVllllable and measurable and that expenditures be recorded when mcurred, rather than when funds are received or disbursed

The accrual basiS of accounting, as reqwred by generally accepted accountmg pnnclples, IS utlhzed by nonexpendable trust funds. Under the accrual basiS of accounting, revenues are recorded when earned and expenses are recorded at the time habJlities are mcurred.

BUDGET

The City ofVidalia Board ofEducation's budget IS a complete finanCial plan for the School Dlstnct's fiscal year and IS based upon estunates of expenditures together With probable funding sources There IS no statutory prohibition regarding overexpenditure of the budgel at any level The budget

- 12 -

CITY OF VIDALIA BOARD OF EPUCATION - TOOMBS CQUNTY
NOTES TO THE GENERAL-PlIRPOSE FINANCIAL STATEMENTS
JUNE 30 200l

EXHIBIT "F"

Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
for all governmental funds IS prepared by fund, function and object The legal level of budget control was establIshed by the Board at the aggregate level The budget for governmental funds was prepared on a basiS other than generally accepted accountIng pnnclples
The budget process begms when the School DiStrict'S adIlllIllstratlon prepares a tentative budget for the Board's approval After approval ofthiS tentative budget by the Board, such budget IS advertIsed at least once In a newspaper ofgeneral CIrculation In the locality At the next regular meetIng ofthe Board after advertisement, the Board receives comments on the tentatlve budget, makes revISions as necessary and adopts a final school budget ThIs final budget IS then submitted, in accordance With prOViSions of the Quality BasiC EducatIOn Act, OCGA SectIon 20-2-1 67(c), to the Georgia Department ofEducation The Board may Increase or decrease the budget at any time dunng the year AJI unexpended budget authonty lapses at fiscal year-end
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash equivalents consist ofcash on hand, demand depOSits and short-term Investments With ongmal matuntles of three months or less from the date of acqulSltlon In authonzed financial Instltutlons Georgia Laws OCGA 45-8-14 authonze the School Dlstnct to depOSIt Its funds In one or more solvent banks or InSUred Federal saVIngs and loan asSOCiations
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the School District In nonpartIClpatmg interest-earnmg contracts (such as certificates ofdeposit) and repurchase agreements are reported at cost Participating Interest-earnIng contracts and money market Investments With a matunty at purchase ofone year or less are reported at amortized cost Both partiCipatIng Interest-earnmg contracts and money market mvestments with a matunty at purchase greater than one year and eqUity Investments are reported at fwr value The OffiCial Code of Georgia Annotated SectIon 36-83-4 authonzes the School DIstrict to Invest ItS funds In selectIng among options for investment or among InstItutional bIds for depOSits, the highest rate of return shall be the obJective, given equivalent condItions of safety and lIqUidIty Funds may be Invested In the follOWIng
(I) OblIgatlons Issued by the State of Georgia or by other states,
(2) ObligatIOns Issued by the Umted States government,
(3) Obllgatlons fully insured or guaranteed by the Umted States government or a UnIted States government agency,
(4) OblIgatlons of any corporation of the Umted States government,
(5) Pnme banker's acceptances,
- 13 -

-CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTy NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30 2001

EXHIBIT "F"

Note I SUMMARy OF SIGNIFICANT ACCOUNTING POLICIES

(6) The Local Government Investment Pool admlmstered by the State of GeorgIa, Office of Treasury and Fiscal ServIces,

(7) Repurchase agreements, and

(8) OblIgatIons of other politIcal subdIVISIOns of the State of GeorgIa

RECEIVABLES

ReceIvables COnsISt of grant reimbursements due on Federal, State or other grants for expendItures made but not reImbursed and other receivables dIsclosed from mformatIon avaIlable ReceIvables are recorded when either the asset or revenue recogmtIon cntena has been met ReceIvables recorded on the general-purpose finanCial statements do not mc1ude any amounts whIch would necessItate the need for an allowance for uncollectIble receIvables

PROPERTY TAXES

The CIty ofVIdalIa fixed the property tax levy for the 2000 tax year (calendar year) on October 26, 2000 (levy date) Taxes were due on December 27, 2000 (lIen date) Taxes collected wltIun the current fiscal year or wltIun 60 days after year-end are reported as revenue In fiscal year 200 I The VIdalIa City Clerk bills and collects the property taxes for the School Dlstnct and remits the balance oftaxes collected to the School Dlstnct Property tax revenues dunng the fiscal year ended June 30, 2001 for mamtenance and operations amounted to $2,971,278 90

The tax millage rate leVIed for the 2000 tax year (calendar year) for the City ofV.dalla Board of EducatIon was as follows (a mill equals $1 per thousand dollars of assessed value)

School OperatIons

14936 mIlls

SALES TAXES

Spec13l Purpose Local OptIon Sales Tax IS to be used for capita! outlay for educatIonal purposes and debt servIce Special Purpose Local Option Sales Tax revenue dunng the fiscal year amounted to $1,578,69933 and was recorded In the CapIta! Projects and Debt ServIce Funds The State Will temunate collectIOn oftIus tax once an addItIonal $5,322, I0043 has been collected or on March 3I, 2005, whIchever occurs first

INVENTORIES

FOOD INVENTORIES Inventones of donated food commodItIes used m the preparatIon of meals are reported on the Combmed Balance Sheet at their Federally assigned value Purchased foods Inventones are reported on the Combmed Balance Sheet at cost (firSt-In, first-out) Donated food commoditIes are recorded

- 14 -

CITy OF VIDALIA BOARD OF EPUCAnON - TOOMBS COUNTy NOTES TO THE GENERALPURPOSE FINANCIAL STATEMENTS
NNE302QQl

EXI-llBIT "F"

Note I. SUMMARY OF SIGNIFlCANT ACCOUNTING POLICIES
as revenues and expendItures at the time commodIty items are receIved Purchased foods IDventones are recorded as expendItures at the time of purchase The Inventones reported on the balance sheet for donated food COmmOdItIes and for purchased foods are equally offset by reservatIons of fund balance wroch mdicates that these amounts do not ConstItute "avlUlable spendable resources" even though they are a component of net current assets
GENERAL OBLIGATION BONDS
The School DIstrICt Issues general obligation bonds to proVIde funds for the acqUISItIOn and constructIon of major capital faCIlities Bond premiums and discounts, as well as Issuance costs, are recognIZed in the fInancIal statements dur10g the year bonds are Issued General obligation bonds are dIrect ob1Jgations and pledge the full faith and credit ofthe government The outstand1Og amount of these bonds IS recorded 10 the General Long-Term Debt Account Group
INTERFUND TRANSACTIONS
The School DIstnct has the followmg types of 10terfund transactIons
Reimbunements ofexpenditures/expenses 10ltlally made from a fund that are properly applicable to another fund are recorded as expenditures/expenses 10 the relmburs10g fund and as reductIOns of expendItures/expenses In the fund that IS reImbursed
Operating transfen are recorded for all interfund transaCtIons other than reimbursements
MEMORANDUM ONLY - TOTAL COLUMNS
Total columns on the general-purpose fInanCial statements are capuoned "Memorandum Only" to Indicate that they are presented only to faCIlitate finanCIal analysis Data ill these columns do not present finanCial POSitIOn, results ofoperations or cash flows ID conformity WIth generally accepted account1Og pnncipies NeIther are such data comparable to a consohdatlon Interfund elimmations have not been made 10 the aggregatIOn of tlus data
Note 2 DEPOSITS AND INVESTMENTS
COLLATERALIZATION OF DEPOSITS OffiCIal Code of GeorgIa Annotated (OCGA) SectIon 45-8-12 prOVIdes that there shall not be on depOSit at any time ID any depOSitory for a tIme longer than ten days a sum of money which has not been secured by surety bond, by guarantee oflDsurance, or by collateral The aggregate of the face value of such surety bond and the market value of securIties pledged shall be equal to not less than 110 percent ofthe public funds bemg secured after the deductIon ofthe amount ofdeposItlDsurance If a depOSItory elects the pooled method (OCGA 45-8-13 I) the aggregate ofthe market value ofthe

- 15 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY
NOTES TO THE GENERALPURPOSE FINANCIAL STATEMENTS
JUNE 30 2001

EXHIBIT "F"

Note 2, DEPOSITS AND INVESTMENTS
secunties pledged to secure a pool ofpubhc funds shall be not less than 110 percent ofthe daJ.1ypool balance OCGA Secllon 45-8-1 1(b) prOVIdes an officer holdmg pubhc funds may, 10 hiS dIscretIon, WaIve the requIrement for secunty m the case ofoperating funds placed In demand depOSIt checkIng ,accounts
Acceptable secunty for deposIts consists of anyone of or any combInallOn of the followmg
(I) Surety bond Signed by a surety company duly quahfied and authonzed to transact busmess wltlun 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 mdebtedness or other obhgatIOns of the countIes or mUDlclpalllles of the State of Georgia,
(5) Bonds of any pubhc authonty created by the laws of the State of Georgia, provldmg that the statute that created the authonty authonzed the use of the bonds for thiS purpose,
(6) Industnal revenue bonds and bonds of development authontles created by the laws ofthe State of Georgia, and
(7) Bonds, bills, notes, certIficates of Indebtedness, or other obhgatIODS of a subSIdIary corporatIon of the UnIted States government, whIch are fully guaranteed by the UnIted States government both as to pnnclpal and mterest or debt oblIgations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate CredIt Bank, the Central Bank for CooperatIves, the Farm Credit Banks, the Federal Home Loan Mortgage ASSOcIatIOn, and the Federal National Mortgage AsSOCIation
CATEGORIZATION OF DEPOSITS At June 30, 200 I, the bank balances were $3,337,677 27 The aIDounts ofthe total bank balances are claSSIfied Into three categones of credIt nsk
Category I - Cash that IS msured (e g , Federal depOSitory msurance) or collateralIzed WIth secuntles held by the School Dlstnct or by the School DistrIct's agent 10 the School Dlstnct's na.tne
Category 2 - Cash collateralized WIth secuntles held by the pledgIng finanCIal mstltution's trust department or agent m the School Dlstnct's name
Category 3 - UncollateraLtzed depOSIts (This Includes any bank balance that IS collateraIlZed With secuntles held by the pledgIng finanCial InStitution, or by ItS trust department or agent but not m the School Dlstnct's name )
- 16-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30 2001

EXHIBIT "F"

Note 2 DEPOSITS AND INVESTMENTS

The School Dlstnct's deposits are clasSIfied by risk category at June 30, 2001, as follows

Risk Category

Bank Balance

I

$ 315,64881

2

2,822,02846

3

200,00000

Total

$ 3337.677 27

CATEGORIZATION OF INVESTMENTS At June 30,2001, the flllr value ofthe School Dlstnct's total mvestments was $91 68 and thiS entire amount COnsISted of common stock which was msured or regIstered, or secuntIes held by the School DiStrict or the School Dlstnct's agent In the School Dlstnct's name

Note 3 NON-MONETARY TRANSACTIONS

The School Dlstnct receives food commodIties from the Umted States Department of Agriculture (USDA) for school breakfast and lunch programs These commodities are recorded at theIr Federally assigned value See Note 1 - Inventories

Note 4 RISK MANAGEMENT

The School Dlstnct IS exposed to vanous nsks of loss related to torts, theft of, damage to, and destructIon of assets, errors or omiSSIOns, Job related Illness or InJunes to employees, natural dIsaster, unemployment compensatIon, and dental cllllms

The School DIstnct has obtlllned commercial msurance for nsk ofloss associated With torts, assets, errors or omiSSIOns, Job related Illness or injUrIes to employees and flood The School Dlstnct has neither SIgnIficantly reduced coverage for these nsks nor mcurred losses (settlements) which exceeded the School Dlstnct's msurance coverage m any ofthe past three years
The School Dlstnct has elected to self-Insure for all losses related to natural dIsaster, other than flood The School Dlstnct has not expenenced any losses related to these nsks m the past three years

The School Dlstnct IS self-insured With regard to unemployment compensatIOn claims The School DIstnct accounts for claims Wlthm the General Fund With expenditure and habIllty 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 cllllffis hablhty durIng the last two fiscal years are as follows

- 17 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30 2001

EXHIBIT "F"

Note 4 RISK MANAGEMENT

Begmmng of Year LJ.abultv

ClaIms and Changes In EstImates

CIBJDlS PaId

End of Year LJablhtv

2000

$

000 $ 3';88.00 $ 3';8800 $

000

2001

$

000 $ 246600 $

000 $ 2.46600

The School Dlstnct IS self Insured WIth regard to employee and dependent dental chums ThiS program IS funded through a combmatlon of employer and employee contnbutlons Changes m dental claIms ilabllIty dUring the last two fiscal years are as follows

Begmmng of Year Llablhn-

CllIIJI1s and Changes In EstImates

ClaIms Paid

End of Year LJablhn-

2000

$

000 $ 110,63090 $ 110,63090 $

000

2001

$

0.00 $ 111.75549 $ 111.75549 $

000

The School Dlstnct has purchased surety bonds to prOVIde additional msurance coverage as follows

Position Covered

Amount

Supenntendent Board Treasurer Board Vice-Treasurer All Employees

$ 50,00000 $ 50,00000 $ 50,00000 $ 100,00000

Note 5. GENERAL LONG-TERM DEBT

GENERAL OBLIGATION DEBT OUTSTANDING General OblIgation Bonds currently outstandmg are as follows

Puroose

Interest Rates

Amount

General Government - Senes 1995

420%- 5 75% $ 321500000

The changes m General Long-Term Debt dunng the fiscal year ended June 30, 2001, were as follows

- 18 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30 2oo!

EXHIBIT "F"

Note 5 GENERAL LONG-TERM DEBT

General Obhgatlon
Bonds

Balance July I, 2000

$ 3,420,00000

Deductions Debt Retired

20500000

Balance June 30, 2001

$ 321500000

At June 30, 200 I, payments due by fiscal year which lDc1udes prmclpal and Interest for these Items are as follows

Fiscal Year Ended June 30

General ObhgatlOn
Bonds

2002 2003 2004 2005 2006 2007 - 2011

$ 408,78250 427, ISO 00 448,76750 468,31750 475,73000
I 971.72500

Total Prmclpal and Interest

$ 4200472 50

Note 6 ON-BEHALF PAYMENTS

The School DIstrict has recogrnzed revenues and expenditures lD the amount of $176,790 89 for health lDsurance and retirement contnbutlons paid on the School DIstnct's behalf by the followlDg State AgenCIes

Georgia Department of Education Paid to the Georgia Department of Commumty Health For Health Insurance of Non-Certified Personnel In the amount of$139,737 40

Paid to the Teachers Retirement System of GeorglB For Teachers Retirement System (TRS) Employer's Cost In the amount of $9,704 49

- 19 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30 200 I

EXHIBIT "F"

Note 6 ON-BEHALF PAYMENTS

Office of Treasury and Fiscal ServIces PlUd to the Pubhc School Employees RetIrement System For PublIc School Employees RetIrement (PSERS) Employer's Cost In the amount of $27,349 00

Note 7, SIGNIFICANT COMMITMENTS

The followmg is an analySIS of Significant outstandmg constrllClJon or renovation contracts executed by the School Dlstnct as of June 30, 200 I

Prlect

Unearned Executed Contracts

SallIe D Meadows - HVAC VidalIa High School- TrlUfUng and RecrealJonal FacIlities

$ 64,12300 799,36648

$ 86348948

The amounts descnbed in thiS note are not reflected m the general-purpose finanCial statements

Note 8 CONTINGENT LIABILITIES

Amounts received or receivable pnnclpally from the Federal government are subject to audIt and revIew by grantor agencIes ThiS could result m requests for reImbursement to the grantor agency for any expenditures whIch are disallowed under grant terms The School DistrIct beheves that such dISallowances, If any, Will be unmaterIaI to ItS overall finanCIal pOSItion

The School DistrIct IS a defendant m VarIOUS legal proceedmgs pertammg to matters mCldental to the performance ofroutine School DistrIct operalJons The ultunate dispOSItiOn ofthese proceedmgs IS not presently determmable, but IS not belIeved to be materIal to the general-purpose fmanclal statements

Note 9 RETIREMENT PLANS

TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)

TRS PLAN DESCRIPTION Substantially all teachers, ad1Illlllslratlve and clerIcal personnel employed by local school dIstrIcts are covered by the Teachers Rellrement System of GeorgIa (TRS), which IS a cost-sharmg multiple employer defined benefit pension plan TRS proVIdes servIce retirement, dIsabIlIty retIrement and survIvors benefits for Its members m accordance With State statute The Teachers RetIrement System of GeorgIa Issues a separate stand alone finanCial audit report and a copy can be obtamed from the GeorgIa Department of Audits and Accounts

- 20-

CITY OF VIDALIA BOARD OF EDUCATION TOOMBS COUNTY
NOTES TO THE GENERALPURPOSE FINANCIAL STATEMENTS
JUNE 30 2001

EXHIBIT "F"

Note 9 RETIREMENT PLANS

TRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe School Dlstnet who are covered by TRS are required by State statute to contnbute 5% of theIr gross earmngs to TRS The School DIMet makes monthly employer contrIbutions to TRS at rates adopted by the TRS Board of Trustees In accordance WIth State statute and as adVised by their Independent actuary The required employer contnbutlon rate IS I I 29% and employer contnbullons for the current fiscal year and the preceding two fiscal years are as follows

FIscal Year

Percentage Contnbuted

ReqUITed Contn butlOn

2001 2000 1999

100% 100% 100"10

$ 1,031,072 93 $ 1,017,78853 $1,032,19362

- 21 -

CITY OF ViDALIA BOARD OF EDUCATION. TOOMBS COUNTY COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 2001

ASSEIS
Cash and Cash EqulV8lents
Investments
Accounts RecelV8ble
Inventories Food Donated Commodities Purchased Food
Total Assets
LIABILITIES AND FUND EQUITY
L1ABILmES
Cash Overdraft Accounts Payable Salanas Payable Expired Grant Balances Payable Defarred Revenue
Total LlabJlrtles
FUND EQUITY Fund Balances Reserved For Inventones Food Donated Commodrbes Purchased Food Unraserved UndBSlgnated Total Fund Equity
Total Uabllrbes and Fund EqUity
See notes to the genara~purposefinanCIal statements - 22-

SCHOOL FOOD
SERVICES FUND

LOTIERY PROGRAMS

$

176,92792

45,000 00

3,47123 $

29,37000

15,056 51 3,794 40

$

244,250 06 $ _~.:2;::9'::13~70::.oo~

$

29,37000

$

5,67570

23,517 64

$

29,39334 $

29,37000

$

15,056 51

3,79440

196,00581 $

000

$

214,856 72 $

000

$

244,250 06 S _ _..:2:9'::13;:;70~00;:..

EXHIBIT "G"

FEDERAL
PROGRAMS

TOTALS

JUNE 30, 2001

JUNE 30, 2000

$

176,92792 $

246,33780

45,000 00

$

417,29873

450,13996

218,52859

15,056 51 3,79440

10,87919 3,796 26

$

417,298 73 $

$

304,98808 $

334,358 08 $

121,33219

19,698 41

25,57411

25,43310

79,65123

103,168 87

96,41928

2,022 98

2,022 98

10,938 03

10,93803

$

417,298 73 $

476,06207 $

243,184 57

$

15,056 51 $

10,87919

3,794 40

3,796 26

$

---'0"-"'00...

196,00581

221,681 82

$

000 $

214,856 72 $ _--,2""36""",35",7,-,2,,,7_

$

417,298 73 $

690,918 79 $ _.....;4:,:7,::9.::,54;:.1:..84::;:..

- 23-

CITY OF YJpALIA BOARD OF EpUCATION - TOOMBS COUNTY COMBINING STATEMENT OF REVENUES, EXpENDITURES AND CHANGES IN FUND BALANCES
SPECIAL REVENUE FUND YEAR ENDED JUNE 30 2001

REVENUES
State Funds Federal Funds Other Funds
Total Revenues
EXPENDITURES
Current Instrucbon Support SeMces Pupil Sel'VlC8S Improvement oflnstrucbonal Services General Admlnlstrauon School Admln,s1rabon Student Transportation Services Central Support Services Food SeMceS Operabon Communrty SeMces Operations
Total Expenditures
Excess of Revenues over (under) Expendrtures
OTHER FINANCING SOURCES
Operaung Transfers In
Excess of Revenues and Other Flnancln9 Sources over (under) Expenditures
FUND BALANCE JULY 1
Food Inventory - Net Chenge ,n Period Donated Commodrtles Purchased Food
FUND BALANCE JUNE 30

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

$

67,690 00 $

577.50327

238,27573

$

883,46900 $

49,88000 49,88000

$

49,88000

$

909,14501

$

909.14501 $

$

-25.67601 $

49.88000 000

$

-25,67601 $

000

236,35727

000

4.17732 -166

$

214,856 72 $~_~.....l0~0~0~

See notes to the genera~purpose finanCIal statements - 24-

EXHIBIT "H"

FEDERAL PROGRAMS

TOTALS

YEAR ENDED

JUNE 30, 2001

JUNE 30, 2000

$

117,57000 $

130,42661

$ 1,056,424 94

1,633,92821

1,757,560 11

238,27573

221,00941

$ 1,056,424 94 $ 1,989,n394 $ 2,108,996 13

$

753,6n 80 $

803,55780 $ 1,067,48518

12,472 38 207,37623
67,896 22 7200
14,930 31

12,472 38 207,37623
67,896 22 7200
14,930 31
909,14501

18,495 40 145,32483 45,83544
5,598.27 38400
865,40647 4950

S 1,056,424 94 $ 2,015,449 95 $ 2,148,5n09

$

000 $

-25,67601 $

-39,580 98

1,050 07

$

000 $

-25,67601 S

-38,53089

000

236,35727

283,02843

4,ln32 -186

-7,64767 -'19260

s

000 $

214,856 72 $_....:2;:;36=,3;;:,57:.2~7_

- 25-

CITY OF VIDALIA BOARD OF EDUCATION - IOOMBS COUNTY COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30. 2QQ1

ASSETS Cash and Cash EqUivalents Accounts ReceIVable
Iotal Assets
LIABILITIES AND FUND EQUITY L1ABILlIIES
Accounts Payable Contracts Payable Retalnages Payable
Iotal LlabllrtlflS FUND EQUITY
Fund Balances Reserved For Purposes of Bond Issue For SPLOSI Projects Unreserved Undeslgnated Iotal Fund Equrty
Iotal Llabllrtles and Fund Equrty

REGULAR

BOND PROCEEDS

$

33,0874Q $

168,534 87

$

$

17980

$

17980

$

168,355 07

$

33,0874Q

OQQ

$

33,08740 $

168,35507

$

33,087 40 $ _ _.:.:168~,534~~87:..

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

EXHIBIT "I"

SPECiAl PURPOSE LOCAL OPTION SALES TAX

TOTALS

JUNE 30, 2001

JUNE 30, 2000

$

732,55945 $

934,181 72 $

281,47894

287,586 70

287,586 70

267,61207

$

1,221,768 42 $ _.....:54=9.:;:,09.::.1:.0::.1~

$

17980

$

179,84517

179,84517

39,234 85

39,234 85

$

219,080 02 $ _---'2"'1"'9.,.2..""59"""'82...

$

168,35507 $

210,02705

$

801,06613

801,066 13

297,291 56

000

33,08740

41 ,772 40

$

801,066 13 $ 1,002,508 60 $ _---'54=9"",09",1'-0"-1'--

$ 1,020,14615 $ 1,221 ?68 42 S ~...;:54~9:;",0~9;,:,1_0.1..

- 27-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING STATEMENT OF RElfENUES EXPENDITURES AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 2001

REVENUES Taxes Other Funds Total Revenues
EXPENDITURES Capital Outlay Lend and Land Improvements BUilding and BUildIng Improvements Total Expenditures
Excess of Revenues over (under) Expendrtures OTHER FINANCING SOURCES (USES)
Operating Transfers In Operabng Transfers Out
Total Other Flnanang Sources (Uses) Excess of Revenues and Other Financing Sources
over (under) Expendrtures and Other Fmanang Usas FUND BALANCE JULY 1
FUND BALANCE JUNE 30

REGULAR

BOND PROCEEDS

$

000 $

3,18323

$

000 $

3,18323

$

32,432 00 $

84,82591

$

117,25791 $

$

-117,25791 $

2,241 21 35,253 00
37,494 21
-34,31098

$

108,57291

$

$

108,57291 $

-7,36100 -7,381 00

$

-8,68500 $

-41,67198

41,772 40

210,02705

$

331087 40 $ _ _1.:.:6~8,;:,3:::;55~0.~7.

Sse notes to the genera~purpoS8finanCIal stataments - 28

EXHIBITJ"

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS

YEAR ENDED

JUNE 30, 2001

JUNE 30, 2000

$ 1,178,23616 $ 1,178,23616 $

19,72038

22,903 61

371,20024 11,47475

$

1,197,956 54 $

n 1,201,139

$ _---'38=2"",6"'74~99::...

$

17,29662 $

51,96983

687,611 85

807,690 76 $ _---'44=2...."1",44"-,,,86,--

$

704,908 47 $

859,660 59 $ _---'44=2....,,1"'44"-86=.

$

493,048 07 $

341,47918 $ _ _-""59::..:,4""6,,,-9,,,,87,--

$

10,726 50 $

119,299 41 $

34,000 00

-7,36100

$

10,726 50 $

111 ,938 41 $

34,000 00

$

503,77457 $

453,417 59 $

25,46987

297,29156

549,09101

574,560 88

$

801,06813 $ 1,002,508 60 $_.....:54=9..::,09:::,1.:..::.01:..

- 29

CIJY Of V10N.tA BOARD Of EpUCATION - TOOMBS CQUNIV COMBINING BALANCE SHEET pEBT SERVICE FUNp JUNE 30 2001

EXHIBIT "K"

~ Cuh and Cuh Equtvalents
LII\BILIJIES ANp FUND EaylJY L1ABILIJIES
Accounts Pa-Jable
-FYNPEQYIJY Fund BaIancao For Dallt 5ervIca UlVllI8rved Unclaslgnated Total Fund Equity
Total L1ablhb.. and Fund Equity

PROPER"TY TAXES FOR BOND DEBT

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS

JUNE 30, 2001

JUNE 30, 2000

$

000 $

15:64881 $

15.648 81 $

79500

$

79500

$

15,801881 $

15801881

$

000

000

000 $

000

$

000 $

15,801881 $

15,801881 $

000

$

000 $

15,84881 $

15,648 81 $

79500

sae notaa to tha ganaraj.purpOSB financial llalaili8nlS

- 30

CITY OF VIDALIA BOARD QF EDUCATION TOOMBS COUNTY COMBINING STATEMENT OF RE'lENUES EXPENDITURES AND CHANGES IN FUNp BALANCES
pEBT SEBV1CE FUNp
YEAR ENDED JuNE 30 2001

EXHIBIT "\."

PROPERTY TAXES FOR BOND DEBT

SPECIAL PURPOSE LOCAl OPTION SAlES TAX

TOTAlS

YEARENOED

JUNE 30 2001

JUNE 30 2000

RF\lENu ES

Taxes Other Funds
TotalReveooes

S

400,06317 S

400,06317

S

196 98

4,852 99

5,04997 S

000

S

196 9B S

405,31616 S

405,51314 S

000

EXl'EHDlJURES
-Debt 5eMce Pnnapal PayIng Agent Foes Total ExpendJ.....
Excess 01 Revenues ave< (under) Elq>endrtures

S

205,000 00

1B3,n500

79500 S

S

389,520 00 S

S -389,323 02 S

S 000 000 S 405,31616 S

205 000 00 S 183,n500
79500
389520 00 S
15,99314 S

180,000 00 192,27500
79500
37307000
-373,07000

OTHER FINANCING SOuRCES 'uSES)

O_ng TranoIeIw In QporotJng Tranotel1l Out
Total Other Fl!UIllCIng Sources (U....)

S

38966735

S

389,66735 S

372,61933

-344 33 S -38966735

-390,0116B

S

389,323 02 S -389,66735 S

-34433 S

372,61933

Exceaa of Revenues and Other Flnanc:mg Sources
r:NfIT (under) Expenditl.nl:s and Other Einanang Uses S
fUND BALANCE JuLY 1

000 S 000

15,648 81 S 000

1564881 S 000

-45067 45967

FuND BALANCE JUNE 30

S

000 S

15:64881 S

15 64881 1

S

000

See notes to the ~-purpceefinanaal stotements

- 31 -

CITY OF VU?ALIA BOARD DF EDUCATION - TOOMBS COUNTY SCHEPULE OF EXPENPlTURES OF FEDERAL AWARDS YEAR ENDED JUNE 3Q 2QQl

SCHEDULE .,.

FUNDING AGENCY PROGRAM/GRANT
Agncuhure, U S Department of Child Nutnbon Cluater P...-Through From Georgia Department of Education Food and Nutrition Program Food services School Breakfast Program Nabonal SChool Lunch Program
Total Child Nutr1tIon Cluslar
Other Programs Pa....Through From Georg.. Departmant of Education Food and Nutrttlon Program Food P,strlbuhon Program (1) Pass-Through From Ollioa of SChool Raadlnass Food and Nutnbon Program
Chid and Adult care Food Program
Total U S Department 01 Agriculture
Educallon, U S Depa_ 01 Special Education Cluster Pass-Through From Georgia Department 01 Education IndrvlduaJs wtth DlsabiltiBs Education Act Part B Special EducaUon
_001CBpacity Building Improvement
Flow Through
Total SPecial Education Cluslar
Other Programs PaS8-Through From Georg.. Depam-.! of Education Comprehenstve SChool Refonn DemonstratIOn Elementary Ind secondary EducaUon Act TItiB I Administrative Site Evaluation Gran1s to Local Educa1lonal AgencIoo TItiB " EJsenhOWOf Professk,"al Development 11tIo III Technology Lrteracy Challanga Fund Grants 11tIo VI ImovatNe Educabon Program Strategies Class SIZe Reduetlon Voca1:IolUIl Education - RilLe Grantl to States H'llh SChool Program Basic Grant
Total U 5 Departrnant of EdUcation

CEDA NUMBER

PASSTHROUGH
EtmTY ID
NUMBER

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

lQ 553 lQ s:l5

NJA

S 102,174 &4

NJA

415,36937 S

S 517,5 21 S

(2) 851 729 99 (3)
851,721199

lQ 8SC lQ 588

NJA

57415Q2

87,41502

NJA

2,544 04

S 8n,50327 S

(2) 909,145 Ql

&4173 &4027 &4173

NJA

S

6,17Q 00 S

NJA

111,94912

NJA

11,47500

S 129,594 12 S

6,17QOO 111,94912
1147500
129594 12

&4 332
&4 Q1Q &4 Q1Q &4 281 &4 318 &4298 &4 340
84048

NJA

82,QI200

52,QI200

NJA

430000

4,300 DO

NJA

598,961 03

598,961 Q3

NJA

531233

831233

NJA

132,28283

132 262 83

NlA

1995463

19,954 63

NlA

86 910 00

86,91Q 00

NlA

2711800

27,11800

S 1,Q86 424 94 S 1,Q86,424 94

Total Foderal Financial_lance N1A a Not AVlllabie

- 32-

S 1,833,92821 S

CITY OF ViDALIA BOARD OF EDlICATlPN - TOOMBS COUNTY SCHEDULE OF EXPENplTURES OF FEpERAL AWARDS
YEAR ENDED JUNE 30 2001

SCHEDULE "1"

Note, to the Schedule of EYMndrtvres of Federal Awards
(1) The amounts shown lor the Food OIoIr1butlon Program _ n t s the Fedorally "''lIned val... of nonmonetary aaalstance for donated commoclttiea receHed and/or conaumed by the system during the ament fiscal year
(2) Expendllt.ros for the Chid and Adult eore Food ProQram and the School Breoklaot Progrem wore not manta"od separately and are Induded In the 2001 Natklnal Sd\oollooch Program
(3) Expendlturoslor this program Includo Slata, and/or Other Funds Expendlturos are not maintained by lund source
MaJOr Programs are identtfied by an .ateri:ak r) In front of the CFDA number
The School DIstricl dod not prollkla Foderal Aaalalance to any Subraclplent
The accompanying schodula of expenditures of Foderal awards ,ncIudas the Foderal grant aCllvtly of the CIty of Vidalia Board of Educabon and IS presented on the modified accrual basis of accountmg which Is the basis of accountmg usad In the pre_bon of the goneral-plOJlOO8 finanaal stalamant5

see notes to tho goneral-purpoae ftnanclal statamants

- 33-

CITY Of YIlJlll.IA BOARQ Of EDUCATION - TOOMBS COUNTY SCHEDuLE Of STATE REVENUE
YEAR ENDED JUNE 30 2001

SCHEDULE "2"

AGENCYIFUNDING

GRANTS

Education. Georgia Deportment 01 0ualIty BaoIc EdUC81lon Dlled IllIlnlCb0n81 COal Kindergarten Program

1_

Kindergarten Program - Early

Program

Primary G.-a (1-3) Program
Pr1mary Grades - Early InteMll1tlon (1-3) Program Upper Elementary Gradee (4-5) Program

Middle 5chooI (&-8) Program

High 5chooI Genenli Education (9-12) Progrem

Voca1ionIlll.eboretory (9-12) Program

Students WIth DIsebiIItles Cetegory I

Cetegory " Cetegory III

Co1egory IV

_I GIfted Student - Cetegory VI
Remedlel EducetIon Program A!IemathIe Educetlon Program Modla Center Program

S1afI end

Development

indirect Coe1 cetegorical Grants
Pupil Trensportabon

Reguler Bus Replacement N..mg 5enitces
PrlIlQl>lll SuppIemenlz
VocobonaJ SupervIsors Educabon Equalization FundIng Grent Food 5enIk:8I VocaboneJ Education

Other Stele Progrems Health InalX8J1C8 ImovabYe Programs

Mentor Teachere Presdulol Hendlcapped Program Bemedlel Surrrne< 5chooI Teachere' Retrement L.otlery Programs

Computers In the Cleaeroom

OtIIce 01 the ao-nor
ChIldren and Youth CoonlInating Coonal
OASISGrenl

Office of Trvaaury and FI:acaI 5e:MceI PublIC 5chooI Empi~ _

CONTRACTS Education. Georgia Department 01 Georgia" Readng Challenge Reading First Program

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

S _36000
93.19100 1.179.11900
485,T89 00 749.707 00 1.489.509 00 1.212,280 00 4n.896 00
37.052 00 215.44500 439.333 00
96.34000
~.45400
126.859 00 116.592 00 226.79800 57.427 00 1.4~.859 00

S

_,36000

93.191 00

1.17811800

485.789 00

749.70700

1.489.509 00

1.212,280 00

4n 696 00

37.052 00 21544500
439.33300 96,340 00
~45400 128.~900
118.592 00 226 798 00
57.427 00
1.~.85900

142.~00
37.4901 00 63.523 00
9.87500 18.698 00 &404.392 00
S
48.72409

67.890 00

139.73740 5,00000 2.282 00
32.069 00 3.08888 9.7Ool48

4988000

142,56500 374901 00 63 523 00
9.67500 18,698 00 &404 392 00 67.69000 49.72409
139.73740 5,00000 2.28200
32 069 00 3.08888 970449
49.880 00

32.038.29 27.34900

32.038.29 27.34900

29.43000 22.50100

29,430 00 22,501 00

See notes 10 the genaraI-purpooe tlnanaal'ta1amentI

S 10:251:860 15 S 117.57000 S 10,369 430 15
- 34-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF APPROVED LOCAL OPTION SALES TAX pROJECTS
YEAR ENDED JUNE 30 2001

SCHEDULE "3"

PROJECT

ORIGINAL ESTIMATED
COST (1)

CURRENT ESTIMATED COSTS (2)

AMOUNT EXPENDED IN CURRENT YEAR (3)

AMOUNT EXPENDED IN PRIOR YEARS (3)

PROJECT STATUS

Retlrement of the SChool Dlstncfs

Crty of Vidalia General Obllga~on BondB,

series 1995, In the maxlnlum amount

of $4,276,602 60

S 4,276,60260 S 4,276,60260 $

389,520 DO

OngOtng

Development of IralnlllQ and reaeatJonal
faalrtles al Videllill High SdlOoIIn the maximum amounl of $1,006,73960

1,006,739 60

1,006,73960

410,709 25

Ongotng

RenovallOf1 of J D DICkerson SChool and Sally Meatdows SChool In the ma><mum amounl of $640,15781

640,15781

640,15781

294,199 22 $ 63,18218 Ongomg

Construcbon of sCIence and technology taboratones al Vidalaa High SchooJ In the ITllIXIIlltJm amounl of $500,000 00

500,000 DO

500 000 00

Ongoing

ConstruclKln of JOInt footbaU stad,um with Toombs County Board of Educa1Kln In the m8XImum amount of $1 ,000 DOD 00

1,000 000 DO

1,000,000 DO

Ongotng

$ 7423,50001 $ 7,42350001 $ 1,094,42847 $ 63182 18

(1) The SChool Dlslnct'a ong,nal cosl esllmale as spealied ,n the rasoIutJon calang for the ImposrtlOIl of the Local OptIon
Sales Tax
(2) The School District's current estimate of total cost tor the proJeds Includes aD cost from proted: Inception to comp!ebon
(3) The voters of Toombs County approved the ImposrtlOll of a 1% sales tax 10 fund the above proJacts Amounts expended for theSe proj8cts may Include saleB tax proceeds Blale, local property taxes and/or other funds over the bfe of the Protects

See notes to the general-purpose finanaat statements

- 35-

CITY OF YJQALIA BOARD OF EptJCATIQN TOOMBS COUNTY
GENERAL FUNQ - QUALITY BASIC E[)UCATIDN pROGRAM (aBE)
ALLOTMENTS AND EXPENDITURES BY PROGRAM
YEAR ENDED JUNE 30 2001

SCHEDUUE .~.

DESCRIPTION
Direct Instructional Programs Ktndergarten Program KJndergarten Program-Early Intervention Program Primary Grade. (1-3) Program PrimlllY Grades-Early IntorventJCm (1-3) Program Upper Elementary Grade. (4-5) Program Middle Grade. (6-8) Program MIddle School (6-8) Program High School General Education (9-12) Program VocaUonaI Laboratory (9-12) Program Students with Dlsabllltle. category I category II category III category IV Gifted Studant - category VI Remedial EducaUon Program Alternallve EducaUon Program
TOTAL DIRECT INSTRUCTIONAL PROGRAMS
Media Center Program SIB1Iand ProIosBklnal DevelOPment

ALLOTMENTS FROM GEORGIA DEPARTMENT OF
EDUCATION (1)

ELIGIBLE aBE PROGRAM COSTS

SALARIES

OPERATIONS

TOTAL

S

516,66700 S _66162 S

23M5~5 S

510,50707

1~,669 00

122..404692

122,_92

1,322,21600 1,070,31070

69,570 ~5

1,139,66116

545,20700

~7~ 692 36

~7~,692 36

Ml,~500

92619300

37591 71

963,7M 71

1,725,353 13

~9,201 ~

1 77~,555 07

1,M9,24600

1,360,55500 1,456,210 71

99,62997

1,556~66

536.123 DO

~66,~ 16

44,551 ~7

532,91565

664.572 DO

1~9 610 51

341252

15302303

312 91~ 16

4,117 13

317 031 31

261,196 81

9,311 70

270,51051

~9,~3O

1,~65

51,304 95

83,358 00

115,296 25

2,63292

116,13117

142,37500

190,366 24

2,20741

19257365

130,663 00

150,21526

1.54H6

151,75674

S

8,097,185 00 S 7,98ll.1~ 19 S 349,21678 S 8,329,356 97

254.539 DO M,45ODO

305,093 63 ~2 508 96

63,~ 17 22,317 63

36613780 M82651

TOTAL aBE FORMULA FUNDS

s

8,416154 DO S 6,327.74260 S 434 576 46 S 6,762,321 26

(1) Compnoed of State Funds plus Local Five Mill Snare

See notel to the genera~ ftnendal statements

-36-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY GENERAL FUND - qUALITY BASIC EDUCATION PROGRAM caBEl
ALLOTMENTS AND EXPENDITURES - BY SITE YEAR ENDED JUNE 30. 2001

SCHEDULE "5"

J R Tnppe Middle School Vidalia ComprehenSive High School J D Dickerson Pnmary School Sally Dalley Meadows Elemen1ary School Altema1lV8 School Program Central Office (Memabve Educabon Program)
TOTAL
(1) Comprised of State Funds plus Local Five Mill Share

ALLOTMENTS FROM GEORGIA DEPARTMENT OF EDUCATION (1)

ELIGIBLE aBE PROGRAM COSTS

$

1,904,974 00 $

2,063,051 48

2,184,48000

2,487,98212

1,950,626 00

1,669,731 63

1,926,232 00

1,655,084 25

53,50749

130,85300

$

8,097,16500 $ ~...::8:::,3~29~,3::;;56~97!..

See notes to the genera~purpose finanCial statements - 37-

SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS

RL\."Itll \\'. "I""TO'" STATE AUD1TQfl
(.().I) 656-2'7~

DEPARTMENT OF AUDITS AND ACCOUNTS
254 W.,hmglOn Slfeel. S W. SUlle 214 AII.nl Georgia 30334K400
June 10, 2002

Honorable Roy E Barnes, Governor Members of the General Assembly Members of the State Board ofEducauon
and Supenntendent and Members of the City of Vidalia Board ofEducauon
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANPARDS
LadJes and Gentlemen
We have audJted the finanCial statements ofCity ofVldaha Board ofEducauon as of and for the year ended June 30, 2001, and have Issued our report thereon dated June 10, 2002 TIus report was qualIfied for vanous departures from generally accepted accounung pnnclples, as Identlfied m the audJtor's report on the general-purpose finanCial statements We conducted our audit m accordance With audlung standards generally accepted m the Umted States of Amenca and the standards apphcable to finanCial audits contamed m Government Auditing Standards, ISSUed by the Comptroller General of the Umted States
Comphance
As part of obtammg reasonable assurance about whether City of Vidallll Board of Education's finanCIal statements are free of rnatenal misstatement, we performed tests of ItS comphance With certam proViSions oflaws, regulatlons, contracts and grants, noncomphance With wluch could have a direct and matenal effect on the detenmnauon of financial statement amounts However, proVldmg an 0plmon on comphance With those proVisIOns was not an ob]eeuve of our audit, and accordJngly, we do not express such an 0plmon The results of our tests dJsclosed no mstances of noncomphance that are reqUired to be reported under Government Audltmg Standards
Internal Control Over FinanCial Reportmg
In planmng and perfonrung our audJt, we conSidered City of Vidalia Board ofEducauon's mternal control over finanCial reportmg m order to detemnne our audlung procedures for the purpose of expressmg our 0plmon on the finanCial statements and not to proVide assurance on the mternaJ
2001YB-40

control over finanCial reportIng However, we noted certalD matters IDvolvlDg the IDternal control over finanCial reportmg and Its operation that we consider to be reportable conditions Reportable conditions mvolve matters commg to our attention relating to slgruficant deficiencies ID the design or operation ofthe IDternal control over financial reportIng that, m our JUdgment, could adversely affect City of VidalIa Board of Education's abihty to record, process, summanze and report finanCial data consistent With assertions of management In the finanCial statements Reportable condIt1ons are descnbed ID the accompanymg Schedule ofFlDdIngs and Questioned Costs as Items FS-7931-01-0 I and FS-793 1-01-02
A matenal weakness IS a condition In which the deSign or operation of one or more of the IDternal control components does not reduce to a relatively low level the nsk that /DIsstatements ID amounts that would be matenal In relation to the financilil statements bemg audited may occur and not be detected Within a timely penod by employees In the normal course of perforrrnng their assigned functions Our consideration of the IDtemal control over finanCial reporting would not necessanly disclose all matters ID the IDternal control that /DIght be reportable conditiOns and, accordmgly, would not necessanly disclose all reportable conditions that are also considered to be matenal weaknesses However, of the reportable conditions descnbed above, we conSider Item FS-793 1-01-02 to be a matenal weakness
This report IS Intended solely for the Information and use ofthe management, members ofthe City of Vidalia Board ofEducation, Federal awardmg agencies and pass-through entitles and IS not IDtended to be and should not be used by anyone other than these specified parties
.-_R~espectfully sub/DItted,

RWHas 2001YB-40

Ru ell W Hinton Sta e Auditor

RI ""II W. ""'0' STA.TE AUDITOR \4t)A,) 6~~17"

DEPARTMENT OF AUDITS AND ACCOUNTS
254 \\',j\hmgLOn SlrccL, ~ W. Suite 214
AI'""la, Georgia 30334I!4(XI
June 10,2002

Honorable Roy E Barnes, Governor Members of the General Assembly Members of the State Board ofEducauon
and Supenntendent and Members of the City ofVldaha Board ofEducauon
REPORT ON COMPLIANCE WITH REOUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMS CIRCULAR A-I 33
LadIes and Gentlemen
Comohance
We have audited the comphance of City ofVidaha Board ofEducation WIth the types ofcomplIance requIrements descnbed m the US Office oj Management and Budget (OMB) Circular A-133 Compliance Supplement that are applIcable to each ofItS major Federal programs for the year ended June 30, 2001 City of Vidalia Board of Educauon's major Federal programs are Idenufied m the Summary of AudItor's Results Section of the accompanymg Schedule of Fmdmgs and Questioned Costs ComplIance WIth the requirements oflaws, regulations, contracts and grants applIcable to each of Its major Federal programs IS the responslbJlIty of City of Vidalia Board of Education's management Our responsibility IS to express an oplluon on City of VIdalia Board of Education's complIance based on our audit
We conducted our audIt of complIance m accordance WIth audltmg standards generally accepted m the Uruted States of Amenca, the standards applIcable to finanCial audits contamed m Government Audltmg Standards, Issued by the Comptroller General of the Uruted States, and OMS CIrcular A133, Audits oj States, Local Govemments, and Non-Profit OrgamzatlOns Those standards and OMS Circular A-133 reqUire that we plan and perform the audIt to obtam reasonable assurance about whether noncomplIance WIth the types ofcomplIance requirements referred to above that could have a direct and matenal effect on a major Federal program occurred An audIt mcludes eXamIrung, on a test baSIS, eVIdence about the City of Vidalia Board of Education's complIance WIth those reqUirements and performmg such other procedures as we considered necessary m the CIrcumstances We belIeve that our audit proVIdes a reasonable basiS for our 0pllllon Our audIt does not proVIde a legal determmatIon on City of VidalIa Board of Education's complIance WIth those reqUirements
200ISA-1O

In our opmlOn, the City of Vidalia Board of Education complIed, m all matenal respects, WIth the requirements referred to above that are apphcable to each of ItS major Federal programs for the year ended June 30, 2001
Internal Control Over Comphance
The management of City ofVidalia Board ofEducatIOn IS responsible for estabhshmg and mamtammg effective mternal control over comphance WIth requirements oflaws, regulations, contracts and grants apphcable to Federal programs In planmng and performmg our audit, we considered City ofVldaha Board ofEducation's mternal control over comphance WIth reqUIrements that could have a cbrect and matenal effect on a major Federal program m order to deterrmne our aucbtlng procedures for the purpose of expressmg our 0plmon on complIance and to test and report on mternal control over comphance m accordance WIth OMB CIrcular A-I33
Our consideratIOn ofthe mternal control over comphance would not necessanly dIsclose all matters 10 the mternal control that lIllght be matenal weaknesses A matenal weakness IS a condition In wluch the deSign or operation of one or more of the Interna1 control components does not reduce to a relatively low level of nsk that noncomphance WIth apphcable reqUIrements of laws, regulations, contracts and grants that would be matenal m relation to a major Federal program bemg aucbted may occur and not be detected Wlthm a timely penod by employees m the normal course of perforllllng theIr assIgned functions We noted no matters mvolVIng the mternal control over comphance and ItS operation that we consider to be matenal weaknesses
Tlus report IS mtended solely for the Information and use ofthe management, members ofthe CIty of Vidalia Board ofEducation, Federal awardmg agenCies and pass-through entities and IS not mtended to be and should not be used by anyone other than these specified parnes
.----r ectfully sublllltted,
Ll):4~
Russell W HInton State AudItor
RWHas 200ISA-IO

SECTION III AUDlTEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY AUDITEE'S RESPONSE
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND OUESTIONED COSTS YEAR ENDED JUNE 30. 2001

PRIOR YEAR FINANCIAL STATEMENT FINDINGS AND OUESTIONED COSTS

FINDING CONTROL NUMBER AND STATUS

FS-7931-98-01 FS-7931-99-02 FS-7931-00-0 I

PreVIOUSly Reported CorrectIve Action Implemented Further ActIon Not Warranted Unresolved - See CorrectIve Action/Responses

CORRECTIVE ACTIONIRESPONSES

GENERAL FIXED ASSETS Failure to Mamtam General FIXed Assets Account Group Fmchng Control Number FS-793 1-00-0 I

Due to current staffing hnntatlons and budgetary considerations prohlbJtmg the hmng of additIonal staff, the School DIStrIct bas decided not to pursue the recordmg of General FIXed Assets on the finanCIal statements The cost assOCiation With the procedme prolub1ts our system from ehnnnatmg thIS long eXlStmg findmg

SECTION IV FINDINGS AND QUESTIONED COSTS

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY
SCHEDULE OF FINDINGS AND OUESTIONED COSTS
YEAR ENDED JUNE 30, 2001

I SUMMARy OF AUDITOR'S RESULTS

Type ofRe.port Issued on the Fmancta! Statements The audrtor's opmlOn on the City of Vuiaha Board of EducatlOn's financIal statements was qualified for vanous departures from generally accepted accountmg pnnclples

2 Reportable CondItIOns m Internal Control DISclosed by the AudIt of the Fmanclal Statements The audIt report for the City of VIdalia Board of EducatIon disclosed finanCial statement reportable condItions related to the folloWIng control categones

Cash and Cash Equivalents

General FIXed Assets

Of the reportable condrtlOns descnbed above, General FIXed Assets IS considered to be a materIal weakness

3 Noncompllllllce Matena! to the Fmanclal Statements The audIt ofthe City ofVlda!Ill Board ofEducation disclosed no 1llStances ofnoncornphance that were deemed to be materIal to the financIal statements

4 Reportable CondItions m Internal Control Over MaJor Programs The audIt report for the City of VIdalia Board of EducatIOn dId not disclose any reportable condItions m mternal control over major programs

5 Type ofRe.port Issued on Comphance for MaJor Programs The audrtor's opmlon on the CIty ofVlda!Ill Board of Education's report on cornpllllllce WIth requrrements applIcable to major programs was unqualified

6 AudIt Fmdmgs ReqUIred to be Reported by Section 510la) of OMB CIrcular A-133 The City of Vidalia Board of EducatIOn's audrt dId not disclose audIt findIngs requIred to be reported by sectIon 510(a) ofOMB CIrCular A-133

7 Malor Programs Federal awards audrted as major programs are as follows 10 553 Food and Nutntlon Program - Food SeTVIces - School Breakfast Program 10 555 Food and Nutntlon Program - Food SeTVICes - NatIOnal School Lunch Program

8 Type "A" Program Dollar Threshold The dollar threshold for type "A" programs was $300,000 00

9 Low RISk Audrtee The City of Vidalia Board of EducatIOn qualified as a low nsk audrtee based on a Waiver granted by the U S Department of Education

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CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND OUESTIONED COSTS YEAR ENDED JUNE 30. 2001
IT FINANCIAL STATEMENT FINDINGS AND OUESTIONED COSTS
CASH AND CASH EQUIVALENTS Inadequate Separation of Duties Reportable ConditIon FmdIng Control Number FS-7931-0 1-01
An exanunatlon of the mternal accountmg control procedures revealed that the School DIStnCt did not provIde for adequate separatIOn of duties m the performance of the followmg accountmg functIOns and related procedures
I) The bank reconcIlIation function was not separated from check preparatIOn. In addItion, bank reconcIlIatIOns were not reviewed by an mdIVIdual mdependent of the bank reconCIliation process
2) The bookkeepmg function was not separated from the cash receIpts function
These condItions were a result ofmanagement's deciSIOn to lImit the number ofadmInIstrative staff made responSible for accountmg functions. The School DIStnCt should review the accountmg procedures m place, deSIgn procedures wluch would enhance segregation of duties relative to the above control categories and unplement those procedures to strengthen the mternal control over accountmg functIons
GENERAL FIXED ASSETS Failure to MaintaIn General Fixed Assets Account Group Reportable CondItIOn - Matenal Weakness Repeated From Pnor Year Fmdmg Control Number. FS-7931-01-02
The City of Vidaha Board of Education did not mamtaIn a system-wide General Fixed Assets Account Group Wltlun the formal accountIng records as required by generally accepted accountmg pnncipies This condition results m the general-purpose finanCial statements ofthe School Dlstnct bemg mcomplete and not m accordance WIth generally accepted accountmg pnncipies Appropnate action should be taken by the School Dlstnct to estabhsh accountmg controls and procedures to proVIde for maintenance ofa General Fixed Assets Account Group. These SUbSllllary records should mclude an mventory of land, bUlldmgs and equipment owned by the School DIStnCt and should mclude, but may not be lImited to, date acqUired, acquiSitIon cost, estimated replacement cost, location and descnptlOn Detailed records should be maintained of all additions and deletIons to the General FIXed Assets Account Group
m FEDERAL AWARD FINDINGS AND OUESTIONED COSTS
No matters were reported
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