City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2002

GA"

Al700

.'K \ -c

1:33

V3

" ,'

"
"
., '
.'
'"
"
,,

.,
-' '
-.'"

,,
,,
-"
,

"
,'
"
I

;
" , ,s.

.-
,} :
"

"
"

""

,'

I" ,

>

-, ' ,

"

T

:' "

"

STATE'OF GEORGiA

," .

,' DEPARTM'ENT OF'AUriiTS,A'ND ACCOUNTS

,f" , / . . . -,

I, ~.~. r

I

" , ' .. \

I

-

~ l.'

,~t,



..". "

, , ,

,>

,,
"
<

"
"

,,

,.

"-, ,-'~

"

. ,"
, "-

t, ..
--'

... 1 ,~~ J'

"

,,

",
"
"
,.'
,,

, ,,

.. ,

,

'.

\"

"

, .I

"

,.

"
",
,,

'I ~

","

"

,

" -,

,'

" " ,'

"

" >, -,'
"

.~.'
, r 1-',
,'
<

I do
..'
," ,'
,,
"
,,

"

<,

,',

,

.# - ~

,,

. .'
-- ,j

.j
, -, ,, -' ....

,,

'.

.,

,-

.--'

,;
~

r

- "'
~.)

J

,,, CITY OF VIDALIA BOARD,OF EDUCATION,

"i

"

.,

,,: ' TOOMBS COUNTY,' GEORGIA; - .

,.-

"
-,

~ T~

'.

,; I

.

.,

-

I

I

,I'

"

',:'" '" REPORT ON AUDIT

.-

,;

" ,'-- OF, THE FIr:iANCIAi Sr'ATEMENTS.'

.

"

': FOR THE FISCAL YEAR ENDED JUNE 30, 200t. ~'

.- ,

"

,'

-,

"

I

.

"

, , "

,

"

: .,

-' ',-

"

"

,,

,, "

"

"

,. ".

,'

l' I.

"

"

,'

,

-\ ~> Russell W. Hinton' -

," stat~ Auditor

-

-. .\ - ':

-,
"

, , ..''

..

,.

',- , J, ~

" "

., ,,
"
"'
,,

"-'

,, "

.,

"

,'

.,

., .....~ ..
.'

,'
.-
.'
,',
"
"
,-
..
"
.,
,,
.,

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

SECTION I

FINANCIAL

INDEPENDENT AUDITOR'S COMBINED REPORT ON GI:NERAL-PURPOSE FINANCIAL STA1 HvIENTS AND SUPPLEMENTMY INFORMATION SCHEDULE 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

STA fEMENT OF CASH FLOWS

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST rUND

9

I' 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, EXPENDITURLS

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

ADDmONAL FINANCIAL INFORMATION

SCHEDULES

I SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS

32

2 SCHEDULE OF STATE REVENUE

34

3 SCHEDULE OF APPROVED LOCAL OP nON SALES I AX PROJECTS

37

ALLOTMENTS AND EXPENDITURES

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS (QBE)

4

BY PROGRAM

38

5

BY SITE

39

SECTION II
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 WTm GOVERNMENT AUDITING STANDARDS
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-l33

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

SECTIONN FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS

SECTION I FINANCIAL

RI'''MII W.llIl'olOl'o ron s IATr 4,U()1
(:4. f::~ 2174

DEPARTMENT OF AUDITS AND ACCOUNTS
2'\4 \V.l'..hmglon SIn.:ct ~ W ~UIIC 214 All.ml,1 GL'OrgJ..l ~()134-!S4(Jl)
Apnl 11, 2003

Honorable Sonny Perdue, Governor Members of the Gcneral Assembly Membcrs of the State Board of Educal10n
and Supenntendent and Members of the City ofVldaha Board of Educal10n
fNDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMEI\'TS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Ladles and Gentlcmen
Wc havc audIted the acwmpanYlng gcncral-purpose finanCIal statcments of thc City of VidalIa Board of EducatIOn, as of and for thc year ended June 30, 2002, as hsted rn the table of contents These general-purpose financIal statements are the responslblhty of the City of Vidalia Board of Educal1on's management Our responslblhty IS to cxpress an opmlOn on these general-purposc financial statements based on our audit
We conducted our audit m accordance With auditing standards generally accepted m the Umtcd States of Amenca and thc standards apphcable to financial audIts contained rn Government Audltmg Standards, Issued by thc Comptroller General of the Umted Stales Those ,tandards require that we plan and pcrfonn the audit to obtam reasonable assurancc about whether thc financial ~tdtcments are free ofmatenal mlsstatcmcnt An audIt mcludes exammmg, on a test baSIS, eVluence ,upportmg thc amounts and disclosures In the financial statcmcnts An audit also mcludes assessmg the accountmg pnnclplcs used and SignIficant estimates made by managcmcnt, as well as evaluatrng thc ovcrall financial statement presentalIon We beheve that our audit proVides a rcasonablc baSIS for our opmlon
As descnbed In the notes to the general-purposc financial statements, the Board of EducatIOn's financial statements have been prepared uSing certam accountmg pracl1ces and pohcles which. In our opmlOn, vary rn some respects from generally accepted accountmg pnnclples These vanances arc desenbed as follows

2002ARL-13

* The general-purpose financial statements of the Board of Education did not contaIn a
General Fixed Assets Account Group to account for property and eqUIpment owned by the Board of EducatIon which should be Included to conform to generally accepted accountIng pnnclples
* School actlVlty accounts maIntaIned at the IndiVidual schools are not Included In the
general-purpose finanCial statements To conform to generally acccpted accountmg pnnclples, these accounts should be Included In the general-purpose finanCial statements
* For fiscal year 2002, the School Dlstnct changed Its method of accountIng for the final
two payments on one hundred and ninety day employment contracts and the related revenue due from the State to fund these contracts Adjustments have been made In the fiscal year 2002 finanCial statements to record expenditures for salanes and fnnge benefits earned by employees through June 30, 2002, (even though paid In July and August 2002) and the related revenue due from the State to fund these contracts No adjustment was made for the Similar salanes and benefits earned m fiscal year 2001 but recorded In fiscal year 2002 as thiS mformatIon WdS not readily avaIlable The net effect of the above accountIng treatment resulted In the accompanYIng finanCial statements reflectIng fourteen months of expenditures for a maJonty of General Fund salanes and fnnge benefits and fourteen months of revcnue from the State to fund thesc contracts Generally accepted accountIng pnnclples require that expenditures be recorded when Incurred, rather than when funds are recclved or disbursed
The aggrcgate effects on the gcneral-purpose finanCial statements of these vanances or omiSSIOns have not been determmed, but are belIeved to be matenal
In our OpIniOn, except for the effects on the general-purpose finanCial statements of the matters referred 10 m the precedIng paragraph, the general-purpose finanCial statements referred to above present fairly, In all matenal respects, the finanCial positIOn of the City of Vidalia Board of EducatIOn as of Junc 30, 2002, and the results of Its opcratlOns and thc cash flows of ItS nonexpendable trust fund for the year then ended, In confomuty with accountIng pnnclples generally accepted In thc United States of Amenca
In accordance With Government AuditIng Standards, we have also Issued our report dated Apnl 11, 2003, on our conSideratIon of the City of VIdalia Board of EducatIon's Internal control over finanCial reportIng and our tests of Its compliance With certaIn proVISIOns of laws, regulations, contracts and grants That report IS an mtegral part of an audit performed In accordance With Government AuditIng Standards and should be read In conjunction With thiS report In consldenng the results of our audit
Our audit was performed for the purpose of formIng an OpiniOn on the general-purpose finanCial statements of the City of Vidalia Board of EducatIOn taken as a whole The accompanYIng combInIng statements (Exhibits G through L) and the finanCial schedules (Schedules I through 5), whIch Includes the Schedule of Expenditures of Federal Awa-rds a-s reqUired- by U S Office of
2002ARL-13

Management and Budget CIrcular A-133, Audlls of States, Local Go~'ernments, and Non-Profit OrganizatIOns, are presented for purposes of additIonal analySIS and are not a rcqUired part of the general-purpose financial statements Such mfonnatIon has been subjected to the audltmg procedures apphed m the audit ofthe general-purpose financIal statements and m our OpInIOn, except for the effects of the mattcrs referred to m the thIrd paragraph, such mfonnatlon IS faIrly stated. m all matenal respccts, m relation to the general-purpose financial statements taken as a whole
A copy of thiS report has been filed as a pennanent record m the office ofthe State Auditor and made avaIlable to the press ofthc State, as provIded for by OfficIal Code ofGeorgIa Annotated Section 506-24
~""fuIlY'"b~.

RWHas 2002ARL-13

Rus II W Hmton State Auditor

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY

CITY OF \!IDALIA BOARD OF EpUCATION - TOOMBS CQUNTY COMBINED BALANCE SHEET
ALL FUND TYPES ANp ACCOUNT GROUp JUNE 30 2002

Cash and Cash EqUivalents
Investments
Account! ReC8JVsb1e
Inventonea Food Donated Commodities Purchased Food
Amount AvsllabIe In Debl Sef""i1Ce Fund
Amount to be Provided In Future Year!
For Pl1'jment of Bond Debt

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

s

37619289 S

6963629 S

65850479

1 50237667

4658689

2,10761607

24674204

29071946

20756 24 395545

Total As!8ls

S 3.986118763 S

38768091 S 1,14922425

UABIUTlES AND FUND EQUfTY
LIABILITIES
Cash Overdran Accounts Psyable SaI8IlEt! Payabl., Explred Grant Balance! Payable Contracts Payable Retamag8! Payabla Detarred Revenue General ObllgBbon Bonds Pllyl!lble
Tota!LlSbllllles
FUND EQUITY
Fuod IlaIanceo R.,58rve<! For Bus Replacement Funds For Debt SeMCe For Endowment Corpus For Inventones Food Donated Commodrtles Purchased Food For Purpose of Bond Issue
For SPLOST f'ro!eds
Unreserved Und&Slgnated
Total Fund Equrty

S

282 e01 81 S

1 254 364 82

3067305 12513760
S
463958

S 1 53726663 S

160,45043 S

2537400 2764 00
28,13800

S

17 453 00

S
2,431 ,46800 S 2,44892100 S

20 756 24 395545 S
202,51879 227.23048 S

1779541 107646733
26,82351
1121,086 25

TotalbJabUlbes and FUnd Equity

S 319861187 63 S

3a71680 91 S 11149122425

The notes to the general-purpose ftnal'lClal statements lire an rnlegraJ p8rt of thl! statement 2

EXH1BIT~N

DEBT SERVICE
FUND

FIDUCIARY FUND TYPE NONEXPENDABLE TRUST FUND

ACCOUNT GROUP GENERAL
LONGTERM DEBT

TOTALS

(Memorandum Only)

JUNE 30, 2002

JUNE 30, 2001

S

287731 21 S

83367

S 1,592,900 85 $

950 663 93

61 10

1,549,02866

1456 908 58

2645,077 57

1625265 13

S

28773121

2692,26879

20 756 24 395545
287731 21
269226879

15 056 51 379440 1564881
3,199,351 19

S

287,731 21 S

894 77 S

2,980 000 00 S 8791,71877 S 7,266,688 55

S

171440 90

S

31357486

26494 52

1 37950262

10391113

2 022 98

2537400

17984517

2 754' 00

39234 85

463958

1093803

S

2980 000 00

2,980 000 00

3215 000 00

S

2,980 000 00 S 4,705,85506 S 374888758

S

287731 21

S

000

S

287,731 21 S

S

287.731 21 S

894 77
000 894 77

S

1745300

28773121 S

894 77

1554'881 92508

20 756 24 3,95545
17 79541 107646733

15 056 51 3794 40
168 355 07 80106613

2660810 30

2,512,954 97

S 4,085,86371 S 3517 800 97

894 77 S

2:980,000 00 S 8791,71877 S 7:266,68855

3

CITY OF VlDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30 2002

REVENUES
Slate Foods Federal Funds Taxes Other Funds
Total Revenues
EXPENDITURES
Current InstruclJon
Support ServIces Pupil serviceS Improvement of Instructlonal ServIces EdueatlOnal Macha SeMces General Adm,mstrabon School AdmlnlstralJon Busaness Admlntstratlon Mall1tenance and OperalJon of P(ant Student Transportation 5ervK:es Central Support ServIces Other Support ServICes
Food SeNlce. OperabOl1 Community ServIces Operations caprtal Outlay Debt Service PnncIpaJ Interest Paying Agent Fe..
Tal.! Expenditures
Excess of Revenues over (under) Expendrtures
OTHER FINANCING SOURCES rUSES)
Operating Transfero In Operating Transfen; Out
Total Other Fmanang SOurces (Uses)
Excess of Revenues and Other FU\3no.ng Sources over (lXlder) Expenditures and Other Fmanong Uses
FUND BALANCE JULy 1
Food Inventory - Net Change In PerIod Donated Commodrtles Purchased Food
FUND BALANCE JUNE 30

GENERAL FUND

SPECIAL REVENUE
FUND

S 12,086 092 47 S
3090 989 28 0422836 50
$ 15.599.91825 $

12827099 191239759
248,07396
2,288,74254

$ 10,93934166 S
61308400 17589327 434,12725 41508359 101221288 154 063 44 936 608 44 279,246 36
20,664 12
121,31150

101531060 3939519
21631396 64 197 86
51,90570 92300
894,18325

$ 15,101,636 51 $

$

498,281 74 $

2,282229 56 651298

$

-33322250

$

-333,22250

$

16505924 $

2283 861 76

6,51298 214856 72

569973 161 05

$ 2,448,921 00 $ _-,2.:2,:,7.:;,2:::30::.;48;:::.

The notes to the general-purpose finallClsl statements are an Integral part of this statement -4 -

EXHIBIT"B"

CAPITAl PROJECTS
FUND

DEBT SERVICE
FUND

TOTALS

(Memorandum Only)

YEAR ENDED

JUNE 30, 2002

JUNE 30 2001

$

30,000 00

S 12,2,363 46 $ 10,369,430 15

1,912,39759

1 633,92821

952,686 OS $

67984261

4723517 97

454997823

9,06993

1,817 29

681,79768

831,99577

$

991,756 01 $

681,65990 $ 19,562,07670 $ 17,385,332 36

$ 1.206 400 56 $

$ 1 206,40056 $

$

-214665 $

$ 11,954 652 26 $ 9859709 20

652479 19 392,20723 434 127 25 479281 45 1,01221288 154,063 936 608 33115206
92300 2066412 894,18325
'21,3"50 1206 400 56

514,41813 40806340 372,72027 500 799 40 1 04B 149 50 161 06002 897,73549 34734096
709 50 26 316 34 909 145 01 11941057 859,660 59

23500000 17378250
79500

235,000 00 173,78250
79500

20500000 183 725 00
79500

409,577 50 $ 18,999,844 43 $ 16,414,75838

272,062 40 $

562,23227 $

970,57398

$

333,222 50

$

333.22250

$

333,22250 $

11228274

-333,22250

-112.26274

$

000 $

000

S

116,57765 $

1002,506 80

272 062 40 S 15,64881

562,23227 $ 351687589

97057398 2,542,12645

5,699 73 16105

... 17732 -I 56

$ '.12'.086 25 S

287.73121 $ 4,084,968 94 S 3,516.87589

- 5-

CITY Of VIDALIA BOARD Of EDUCATION - TOOMBS COUNTY COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL - lNON=GMP BASIS) GENERAL AND SPECIAL REVENUE fUNDS
YEAR ENDED JUNE 30 2002

EXHIBIT ~C"

GENERAl FUND

BUDGET

ACTUAL

REVENUES

Stale funds Federal Funds Taxes Other Funds

$ 10697,26700 $ 12,086 092 47

2819809 56 36100000

3090 989 28 422,836 50

Total Revenues

$ 13,878,07656 $ 15,599 918 25

EXPENDITURES

Current InstrudJon
Support SeMces
Pupd Servlces lmprovemem oflnS1ructtonal Services EducatIOnal Media ServICeS General AdmmlstralJon Sdlool AdmnlS1rabOn BUSiness Adrmmstrabon Maurtenance 800 Operabon of Plant
Student TransportallOn SeMc:es
CentrBI Support ServICeS Other Support $eMC8S Food Services Opera""" Corrvmruty ServICeS Operahons

$ 9654 404 71 $ 1093934166

44904299 163 44651 39399839 417 120 81 104523780 182 S40 52 1,07387000 28374900

613064 00 175,89327 434,12725 41508359 101221288 15406344 936 608 44 27924636

22700 00

2066412

105,00000

121,31150

Total Expenditures

$ 13791,11073 $ 15,101,63651

Excess of Revenues over (under) Expenchlures
OTHER FINANCING SOURCES (USES)

$

86 965 83 $ 498281 74

Other Source& Other Uses

$ -333222 50

Total Other FlO8OQ01g Sources (Uses)

$ -333222 50

Excess of Revenues and Other Flnancmg Sources over (under) Expendrtures end Other Flnanang Uses $

86 965 83 $

16505924

FUND BALANCE JULY 1 2001

2366 806 57

2,28386176

AdJU$tmenta food Inventory - Net Change Ql Pertod
Dona1ed CommodrtJes Purchased Food

FUND BALANCE JUNE 30 2002

S 245377240 S 2448.921 00

SPECIAL REVENUE FUND

BUDGET

ACTUAL

$ 11988000 $ 12827099

1 93747400

1,91239759

259,200 00

24807396

$ 2,316,554 00 $ 2,268,74254

$ 966 252 03 $ 101531060

37,60000 23304900

3939519 21631396

8317600

64 19786

25258 00
851900 100408700

51 90570 92300
894 18325

$ 235794103 $ 2282,22956

$ -4138703 $

651298

$ 21000 00 -2100000

$

000

$ -41 38703 $

651298

206 687 76

214858 72

-902352

569973 16105

S 15627721 $ 22723048

The notes to the generaJ-purpose ftoellCl8l 6tatemen1s are an UlIegral part Of ttns stalemenl
-7-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND YEAR ENDED JUNE 30, 2002

EXHIBIT "D"

OpERATING REVENUES None Recorded
OPERATING EXPENSES Current Scholarships Operabng Income (Loss)
NONOPERATING REVENUES DIVidends Earned Net Increase (Decrease) In the Fa" Value of Investments Nonoperating 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, 2002

JUNE 30, 2001

$

000 $

000 $

000

$

000 $

000 $

000

$

000 $

000 $

000

$

027 $

027

-3058

-3058 $

-5,47024

$

-30 31 $

-3031 $

-5,47024

$

-3031 $

-3031 $

-5,47024

92508

92508

6,39532

$

894 77 $

894 77 $ _~=~9~25~08;:..

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, 2002

EXHIBIT "E"

Cash Flows from Operabng ActiVIties Cash Paid for Scholarships
Cash Flows from Investmg ActlVrtles D,v,dends Received on Investments
Net Increase (Decrease) on 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, 2002

JUNE 30, 2001

$

000 $

000 S

000

$

027 $

027 $

000

$

027 $

027 $

000

83340

83340

83340

$

83367 $

833 67 $ ~~=,g8~33~4~0~

The notes to the general-purpose finanCial statements are an Integral part of thiS statement -g-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO TIlE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30, 2002
Notc I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
REPORTING ENTITY
The City of VidalIa Board of EducatIOn (School Dlstnct) was establIshed under the laws ofthc Statc of GeorgIa and opcrates under the gUidance of a school board elected by the voters and a Supenntendcnt appomted by the Board The School Dlstnct IS organized as a separatc lcgal entIty and has the power to levy taxes and Issue bonds Its budget IS not subJcct to approval by any other entity Accordmgly, the School Dlstnct IS a pnmary government and consists of all the orgamzatIons that compose ItS lcgal entity
FUND ACCOUNTING
Thc School Dlstnct uses funds and an account group to report on ItS financial posItIon and the results of ItS operatIons Fund accountIng IS deSigned to demonstratc lcgal complIance and to aid fmanclal management by segregatmg transactIOns related to certam governmental functIons or activities A fund IS a separate accountmg entIty With a self-balancmg set of accounts An account group IS a finanCial reportmg deVice deSigned to proVide accountabilIty for certam asscts and lIabilItIes that are not recorded m the funds because they do not directly affect cxpcndable aVailable financial resources,
GeneraJ Fixed Assets are recorded as expenditures m thc vanous funds at thc lImc of purchase A General Fixed Assets Account Group IS not presently mamtamcd by the School Dlstnct To conform to gcnerally acccptcd accountmg pnnclples, a General Fixed Assets Account Group should be mamtamed for reportmg the cost of assets acqulrcd by governmental fund typcs
Although "school activity accounts" are maIntamed at the mdlvldual schools, neither the asscts, lIabilIties and fund eqUIty, nor the revenues, expenditures and changes m fund balances of these accounts are reflected m these finanCial statements To conform to generally accepted accounting pnnclples, these accounts should be recorded m the general-purpose finanCial statements
Thc general-purpose finanCial statemcnts account for all State, Fedcral, Ta.xes and Other funds under control of thc School DIStnCt, In complIance With generally accepted accounting pnnclples applIcable to governmental umts, unless otherwise disclosed m these notes Funds and thc account group presented m thiS report are as follows
GOVERNMENTAL FUND TYPES - are used to account for all or most of the School Dlstnct's cducatlOnal actiVIties Governmcntal Fund Types mclude'
GENERAL FUND - the fund used to account for all finanCial resources of the School Dlstnct except those reqUIred to bc accounted for m another fund These transactions relatc to resourccs obtained and used for services proVided by a board of cducatlon
- 10 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COlJJ\'TY EXHIBIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30, 2002
Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SPECIAL REVENUE FUND - the fund used to account for thc proceeds of specific revenue sources (other than for major capital proJects) that are legally restnctcd to expenditures for specified purposes These funds are received pnmanly from the GeorgIa Department of Educallon and from the Federal government to accomphsh specific educallonal obJcclIves
CAPITAL PROJECTS FUND - the fund used to account for financIal resources to be used for the acqulSllIon or constructIOn of major capital faclhtles
DEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term pnnclpaJ, mterest and paYIng agent fees
FIDUCIARY FUND TYPE - the fund used to account for assets held by a government umt m a trustee capacIty or as an agent for mdlvlduals, pnvate organizations, othcr government Units and/or other funds, This fund mcludes
NONEXPENDABLETRUSTFUND Sara A. Murchison Scholarship Fund - the fund used to account for an endowment of which the corpus IS to be mvested and preserved mtact With the resultant mcome to be uscd to proVIde college scholarshIps to Vldaha City High School Seniors
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - A finanCial reportmg deVIce used to account for general obhgallon debt outstandmg
BASIS OF ACCOUNTING
The accountmg and finanCial reportmg trealment apphed to a fund IS determmed by ItS measurement focus All governmental funds are accounted for usmg a current finanCial resources measuremcnt focus With thiS measurement focus, only current assets and current hablhlIes gencrally are mcluded on the balance sheet. Operatmg statements ofthese funds present mcreases (I c , revenues and other financmg sources) and decreascs (I e ,expenditures and othcr financmg uses) m nct current assets TheIr reported fund balance IS conSIdered a measure of aVaIlable spcndable resources,
LIablhtles which are expected to be financed from aVaIlable spendable resources are reported as hablhlIes m the governmental funds Other hablhtles, whIch are not expected to he financed from avallable spendable resources, arc reported m the General Long-Term Debt Account Group
All nonexpendable trust funds are accounted for on a flow of economic resources measurement focus Wtth thiS measurement focus, all assets and hablhlIes assoc13ted With the operallon of these funds are mcluded on the balance sheet Operatmg statements present mcreases (e g, rcvenues) and decreases (e g" cxpenses) m net total assets
- II -

- - - - - - - - - - - - - - - - - - - - -.,..~ ..__.............
CITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30. 2002
Note l' SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Governmental funds are accounted for using the modI fied accrual basIs of accountmg undcr which
Revenues are recogmzed when susceptible to accrual (I e , when they become both measurable and available). "Measurable" means the amount of the transactIOn can be determmed and "available" means collecnble wlthm the current penod or soon enough thereafter to be used to pay liabilitIes of the current penod. The School Dlstnct conSIders receivables collected wlthm sixty days after yearend to be available Property taxes, sales taxes and Interest are conSIdered to be susceptible to accrual. Nonexchange transactions, m whIch the School Dlstnct gives (or receIves) value wIthout dIrectly receIVIng (or gIvmg) equal value m exchange, mclude property taxes, local option sales taxes, mtergovernmental grants and donations. Revenue for property tall.es IS recOgnIZed m the fiscal year for which the taxes are leVIed. Revenue from sales taxes IS recognized m the fiscal year the resources are receIved or susceptible to accrual Revenue from grants and donatIons IS recognIzed m the fiscal year m which all elIgIbIlIty reqUirements have been satisfied
Expenditures are generally recognized when the related fund lIabIlIty IS mcurred
For fiscal year 2002, the School Dlstnct changed ItS method of accountmg for the final two payments on one hundred and mnety day contracts and for the related revenue due from the State to fund these contracts Adjustments have been made m the fiscal year 2002 finanCial statements to record expenditures for salanes and funge benefits earned by employees through June 30, 2002, (even though paId m July and August 2002) and the related revenue due from the State to fund these contracts ThIs change IS m accordance With generally accepted accountmg pnnclples No adjustment was made for the SimIlar salanes and benefits earned m fiscal year 2001 but recorded m fiscal year 2002 as thIs mformatlOn was not readIly available
The net effect ofthe above accountIng treatment resulted m the accompanymg financial statements reflectmg fourteen months of expenditures for a maJonty of General Fund salarIes and fnnge benefits and the related revenue due from the State to fund these contracts Generally accepted accountmg pnnclples requIre that revenues be recorded when aval1able and measurable and that expenditures be recorded when mcurred, rather than when funds are received or dIsbursed
The accrual basIS of accountmg, as reqUired by generally accepted accountmg pnnclples, IS utilIzed by nonexpendable trust funds Under the accrual basIS of accountmg, revenues are recorded when earned and expenses are recorded at the tIme lIabIlIties are mcurred
BUDGET
The City ofVidalia Board of Education's budget IS a complete fmanclal plan forthe School Dlstnct's fiscal year and IS based upon estimates of expenditures together WIth probable fundmg sources There IS no statutory prohIbition regardmg overexpendlture ofthe budget at any level The budget for all governmental funds IS prepared by fund, function and object. The legal level of budget control was establIshed by the Board at the aggregate level. The budget for governmental funds was prepared on a basIS other than generally accepted accountmg pnnclples
- 12 -

CITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY EXHffilT "F" NOTES TO TIlE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30. 2002
Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The budget process begins when the School Dlstnct's admlmstrallon prcpares 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 of general cIrculatIOn In the localIty. At the next regular meeting of the Board after advertIsement, the Board receives comments on the tentatIve budget, makes revISIons as necessary and adopts a final school budget ThiS final budget IS then submitted, In accordance WIth prOVISIOns of the QualIty BasiC EducatIon Act, OCGA Secllon 20-2-1 67(c), to the Georgia Department of Educallon The Board may Increase or decrease the budget at any tIme dunng the year All unexpended budget authonty lapses at fiscal year-end
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash eqUivalents consist ofcash on hand, demand dcposlts and short-term mvestments With ongmal matunlles of three months or less from the date of acqUlslllon m authonzed finanCIal mslltullons. Georgia Laws OCGA 45-8-14 authonze the School Dlstnctto dCPOSltltS funds m one or more solvent banks or msured Federal savings and loan asSOCIatIOns
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the School Dlstnct In nonparticipating interest-earning contracts (such as certificates ofdepOSit) and repurchase agreements are reported at cost Partlclpatmg mterest-earnmg contracts and money market mvestments With a matunty at purchase ofone year or less are reported at amortized cost Both partlclpatmg mterest-earnlng contracts and money market Investments WIth a matunty at purchase greater than one year and eqUity Investments are reported at faIr value The OffiCial Code of GeorgIa Annotated SectIOn 36-83-4 authonzes the School Dlstnct to Invcst ItS funds and In selecting among opllons for Investment or among Inslltullonal bids for depOSits, the hIghest rate of return shall be the obJecllve, given eqUivaJent condillons of safety and lIqUidity Funds may be Invested In the follOWing'
(I) OblIgallons Issued by the State of Georgia or by other states,
(2) OblIgatIOns ISSUed by the Umted States government,
(3) OblIgatIOns fully Insured or guaranteed by the Umted States government or a Umted States government agency,
(4) OblIgallons of any corporallon of the Umted States government,
(5) Pnme banker's acceptances,
(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services,
- 13 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHffiIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30. 2002

Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(7) Repurchase agreements, and

(8) OblIgallons of other polIllcal subdlVlsIOns ofthc Statc 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 avallable. Receivables are recorded when either the asset or revenue recogmtIOn cntena has been met Receivables recorded on the general-purpose finanCial statements do not mclude any amounts which would necessItate the need for an allowance for uncollecllble receivables

PROPERTY TAXES

The CIty of Vldaha fixed the property tax levy for the 2001 tax dIgest year (calendar year) on October 22, 2001 (levy date) Taxes were due on December 22,2001 (lIen date). Taxes collected wlthm the current fiscal year orwlthm 60 days after year-end on the 2001 tax digest are reported as revenue m fiscal year 2002 The VidalIa City Clerk bills and collects the property taxes for the School Dlstnct and remits the balance of taxes collected to the School Dlstnct Property tax revenues dunng the fiscal year cnded June 30, 2002 for mamtenance and operations amounted to $3,090,989 28

The tax mIllage rate leVIed for the 2001 tax year (calendar year) for the CIty ofVldaha Board of Educallon was as follows (a mill equals $1 per thousand dollars of assessed value)

School Operallons

14.936 mills

SALES TAXES

Special Purpose Local Opllon Sales Tax revenue dunng the year amounted to $1 ,632,528 69 and IS to be used for capital outlay for educatIOnal purposes or debt service ThiS sales tax was authonzed by local referendum and the sales tax must be re-authonzed at least every five years

INVENTORIES

FOOD INVENTORIES Inventones of donated food commodilles used In the preparallon of mcals are reportcd on the Combmed Balance Sheet at theIr Federally asSigned value Purchased foods mventones are reported on the Combmed Balance Sheet at cost (first-m, first-out) Donated food commodities are recorded as revenues and expenditures at the time commodity Items are received Purchased foods mventones

- 14 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNfY EXHIBIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30. 2002

Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

are recorded as expenditures at the time ofpurchase The mventones reported on the balance sheet for donated food commoditIes and for purchased foods are equally offset by reservatIons of fund balance which mdlcates that these amounts do not constItute "avaIlable spendable resources" even though thcy are a component of net current assets

GENERAL OBLIGATION BONDS

The School Dlstnct ISSUes general obligatIon bonds to provide funds for the acqUlSltlOn and constructIon ofmaJor capital facilItIes. Bond premIUms and diSCOuntS, as well as Issuance costs, are recognized m the finanCial statements dunng the year bonds are Issued General obligatIon bonds are direct obligatIons and pledge the full faith and credit ofthe government The outstandmg amount of these bonds IS recorded In the General Long-Term Debt Account Group

INTERFUND TRANSACfIONS

The School District has the followmg types of mterfund transactIons.

Reimbursements of expenditures/expenses InitIally made from a fund that are properly applIcable to another fund are recorded as expenditures/expenses m the relmbursmg fund and as rcductlOns of expenditures/expenses m the fund that IS reimbursed

Operating transfers are recorded for all mterfund transactIOns other than rClmbursements

MEMORANDUM ONLY - TOTAL COLUMNS

Total columns on the general-purpose finanCial statements are captIoned "Memorandum Only" to mdlcate that they are presented only to facIlitate finanCial analysIs Data m these columns do not present financial posillon, results ofoperatIons or cash flows m conformily With generally accepted accountmg pnnclples. Neither are such data comparable to a consolidatIon Interfund elimmatIons have not been made m the aggregatIon of thiS data

DEFICIT FUND BALANCES

Thc fund reportmg a defiCit fund balance posItIon at Junc 30, 2002. IS as follows

Fund TvoelFund Name

DefiCit Balance

Governmcntal Fund Typc CapItal Projects Fund Georgia State Fmancmg and Investment CommissIOn

In' the subscquent penod, the School Dlstnct antIcipates usmg Georgia State Fmancmg imd Investment CommiSSion SpeCial AppropnalJon procecds to ehmmate thiS deficil

- 15 -

, I.
CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30. 2002
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 bme m any depOSitory for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of Insurance, or by collatcral The aggregate of the face valuc of such surety bond and the market value of secuntles pledged shall be equal to not less than I 10 percent ofthe public funds bcmg secured after the dcdUCtion ofthe amount ofdepOSit ln8urance
If a depOSitory elects the pooled method (OCGA 45-8-13 I) the aggregatc ofthe market value ofthe
secuntles pledged to secure a pool ofpubhc funds shall be not less than II percent ofthe dally pool balance. OCGA SectIOn 45-8-11 (b) prOVIdes an officer holdIng pubhc funds may, In hiS discretIOn, waive the requirement for secunty In the case ofoperatmg funds placed m demand depoSit checkIng accounts
Acceptable secunty for depoSits consIsts of anyone of or any combInatIOn ofthc follOWIng
(I) Surety bond Signed by a surety company duly qualified and authonzed to transact bUSIness wlthm 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 obhgatlOns of the Umted States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of Indebtedness or other obligatIOns of the countIes or munIcipalities of the State of GeorgIa,
(5) Bonds of any public authonty created by the laws of the State of Georgia, proVidIng that the statute that created the authonty authonzcd the use of the bonds for thIS purpose,
(6) Industnal revenue bonds and bonds ofdevelopment authontles creatcd by the laws of the State of Georgia, and
(7) Bonds, bills, notes, certificates of Indebtedness, or other obhgatlOns of a subSidiary corporation of the Umted States government, whIch are fully guarantced by thc Umted States government both as to pnnclpal and mterest or debt obligations Issued by the Fedcral Ldnd Bank, the Federal Home Loan Bank, the Federal intermediate Credl\ Bank, the Central Bank for CooperatIves, the Farm CredIt Banks, the Federal Home Loan Mortgage ASSOCiatIOn, and thc Federal National Mortgage ASSOCiation
CATEGORIZATION OF DEPOSITS At June 30, 2002, thc bank balances were $4, 114,27902 The amounts ofthe total bank balances are clasSified Into three categones of credit nsk
- 16 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 3D. 2002

Note 2. DEPOSITS AND INVESTMENTS

Category I - Cash that IS Insured (e g, Federal deposItory Insurance) or collaterahzed WIth secuntIes held by the School Dlstnct or by the School Dlstnct's agent In the School Dlstnct's name
Category 2 - Cash collaterahzed WIth secuntIes held by the pledging financial instItutIon's trust department or agent In the School Dlstnct's name
Category 3 - Uncollaterahzed deposits. (ThiS mcludes any bank balance that IS collateralized With secUrIties held by the plcdgmg financial institutIOn, or by ItS trust department or agent but not m the School Dlstnct's name)

The School Dlstnct's depOSIts are classIfied by nsk category at June 30, 2002, as follows

RIsk Category

Bank Balance

I

$ 230,12144

2

3,884,157 58

3

000

Total

$A.II4.279.02

CATEGORIZATION OF INVESTMENTS At June 30, 2002, the fair value of the School Dlstnct's total mvcstments was $61 10 and thiS entIre amount consisted ofcommon stock which was Insured or registered, or secuntIcs held by the School Dlstnct or the School Dlstnct's agent m the School Dlstnct's name

Note 3 NON-MONETARY TRANSACTIONS

The School Dlstnct receIves food commodItIes from the Umted States Department of Agnculture (USDA) for school breakfast and lunch programs These commoditIes arc recorded at their Federally assIgned value See Note I -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 mJunes to employees, acts of God, unemployment compensatIOn, and dental claims

The School Dlstnct has obtamed commercIal msurance for nsk of loss asSOCiated With torts, assets, errors or omISSIons and Job related Illness or mJunes to employees The School Dlstnct has neither SignIficantly reduced coverage for thcse nsks nor mcurred losses (settlements) whIch exceeded the School Dlstnct's msurance coverage In any of the past three years

The School Dlstnct has elected to self-msure for all losses related to acts of God The School Dlstnct has not expenenced any losses related to thiS nsk m the past three years

- 17 -

CITY OF VIDALIA BOARD OF EDUCATION TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATI:MENTS
JUNE 30, 2002

Note 4 RISK MANAGEMENT

The School Dlstnct IS self-msured wIth regard to unemployment compensatIOn claIms The School Dlstnct accounts for claims wlthm the same fund that the employee's salary and benefits were paid Claims are accounted for wIth expendIture and liability bemg reported when It IS probable that a loss has occurred, and the amount of that loss can be reasonably estImated

Changes m the unemployment compensation claIms liabIlity durmg the last two fiscal years are as follows

Begmnmg of Year LIabIlity

ClaIms and Changes m E,l1mates

ClaIms Paid

End of Year LiabIlity

2001 2002

S

000 S 2,46600 $

000 $

2,46600

$

2,46600 $

5,113 25 $

2,78500 $

4,79425

The School Dlstnct IS selfmsured WIth regard to employee and dependent dental claIms This program IS funded through a combmatlOn of employer and employee contnbutlons Changes m dental claims lIablhty dunng the last two fiscal years are as follows

Begmnmg of Year LIabIlity

ClaIms and Changes m Esl1mate,

ClaIms Paid

End of Year LIabIlIty

2001 2002

$

000 S 111.75549 $ 111.755 49 $

000

$

000 $ 110,797 88 $ 110,79788 $

000

The School Dlstnct has purchased surety bonds to proVide addItional msurance covcmge as follows

PosItIOn Covered

Amount

Supenntendent Board Treasurer Board VIceTreasurer All Employees

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

Note 5 GENERAL LONG-TERM DEBT

GENERAL OBLIGAnON DEBT OVTSTANDING General OblIgatIOn Bonds currently outstandmg are as follows,

Purpose

Interest Rates

Amount

General Government - Senes 1995

420% - 5 75% $ 2,980,000,00-

- 18 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO [HE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30, 2002

Note 5 GENERAL LONG-TERM DEBT

The changes m General Long-Tenn Debt dunng the fiscal year ended June 30, 2002, were as follows:

General ObligatIOn
Bonds

Balance July 1,2001

$ 3,215,000 00

DeductIOns Debt Retlred

235,00000

Balance June 30, 2002

$.2.980 000,00

At June 30, 2002, payments due by fiscal year whIch mcludes pnnclpal and mterest for these Items are as follows

FIscal Year Ended June 30

General ObligatIOn
Bonds

2003 2004 2005 2006 2007 2008 - 2010

$ 427,15000 448,767,50 468,31750 475,73000 481,47000
1.490,255 00

Total Pnnclpal and Intcrest

$~791 690,00

Note 6 ON-BEHALF PAYMENTS

The School Dlstnct has recognIzed revenues and expendllures m the amount of $166,276 72 for health msurance and retlrement eontnbutlOns paid on the School Dlstnct's behalf by the followmg State AgenCies

Georgia Department of Education PaId to the GeorgIa Department ofCommuruty Health For Health Insurance ofNon-Certified Personnel In the amount of $ I 46,706 72

- 19 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F"
NOTES TO THE GENERAL-PURPOSE FINANCIAL S1ATEMENTS
JUNE 30, 2002

Note 6 ON-BEHALF PAYMENTS

Office of Treasury and Fiscal SeTVIces Paid to the Public School Employces RetIrement System For Public School Employees Retlrement (PSERS) Employcr's Cost In the amount of $19,57000

Note 7 SIGNIFICANT COMMITMENTS

The follOWing IS an analySIS ofslgmficant outstanding constructIOn or renovatIOn contracts executed by the School Dlstnct as of June 30, 2002, together With funding available

ProJcct

Uncarned Executed Contracts

Funding AVailable From State

J R. Tnppe Middle School Sanitary Sewer ExtenSion
SAOIS-793-086 and SAOIS-793-088 Vidalia High School -
Tralmng and Recreatlonal Facllitles

$ 14,872 00 159,89600 $ 197,16900
5,56806

$ 180,336,06 $ 197 169..Q.Q

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

Note 8 CONTINGENT LIABILITIES

Amounts received or receivable pnnclpally from the Fe{\eral government are subject to audit and revlcw by grantor agencies This could result In requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms The School Dlstnct believes that such disallowances, If any, will be Immatenal to ItS overall finanCial pOSitIOn

The School Dlstnct IS a defendant In vanous legal proceedings pertaImng to matters inCIdental to the performance of routine School Dlstnct operations The ultimate dispOSItion of these proceedings IS not presently determinable, but IS not believed to be matenal to the general-purpose finanCial statements

Note 9 RETIREMENT PLANS

TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)

TRS PLAN DESCRIPTION Substantially all teachers, administrative and c1cncal personnel employed by local school dlstncts are covered by the Teachers Retirement System ofGeorgJa (TRS), wluch IS a cost-sharing multiple

- 20-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT "F" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS
JUNE 30, 2002

Note 9 RETIREMENT PLANS

employer defined benefit pension plan TRS provIdes servIce retirement, dIsabIlity retlrcment and SUrviVOrs benefits for ItS members m accordance With State statute The Teachers Retirement System of GeorgIa Issues a separate stand alone finanCial auda report and a copy can be obtamed from the GeorgIa Department of Audits and Accounts

TRS CONTRmUTIONS REQUIRED AND MADE Employees of the School Dlstnct who are covered by TRS are reqUired by State statute to contnbute 5% of their gross earnmgs to TRS The School Dlstnct makes monthly employer contnbutlOns to TRS at rates adopted by the TRS Board of Trustees m accordance With State statute and as adVIsed by their mdependent actuary The reqUired employer contnbutlOn rate IS 9 24% and employer contnbutlons for the current fiscal year and the precedmg two fiscal years are as follows

Fiscal Year

Percentage Contnbuted

ReqUired ContnbutlOn

2002 2001 2000

100% 100% 100%

$ 871,43356 $ 1,031,072 93 $ 1,017,78853

- 21 -

CITY OF VIPALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 2002

ASSETS
Cash and Cash Equivalents
Investments
Accounts ReceIVable
Inventones Food Donated Commodrtles Purchased Food

SCHOOL FOOD
SERVICES FUND

LOTIERY PROGRAMS

$

187,41151

46,588 89

$

47,43216

20,756 24 3,95545

Total Assels

$

258,712 09 $==_4~7~4,;,:3;:;2;,,;1;,;;6;,

LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft Accounts Payable Salanes Peyable Expired Grant Balances Payable Deferred Revenue
Total LlablhtJes
FUND EQUITY
Fund Balances Reserved For Inventones Food Donated Commodities Purchased Food Unreserved Undeslgnated
Total Fund Equity
Total LlablhtJes and Fund Equrty
See notes to the general-purpose finanCIal statements
- 22-

S

47,43216

$

6,581 82

24,89979

$

31 ,48161 $

47,43216

S

20,75624

3,95545

202,51879 $

S

227,23048 $

000 000

s

258,712 09 S==_-;:;47:"1,;:4~32~16~

EXHIBIT "G"

FEDERAL
PROGRAMS

TOTALS

JUNE 30, 2002

JUNE 30, 2001

$

187,411 51 $

176,92792

46,58889

45,000 00

$

199,30988

246,74204

450,13996

20,756 24 3,95545

15,05651 3,794 40

$

505,454 13 $ ~~6::.:90:::.::,9~18~7.:.;9:..

$

70,34106 $

117,77322 $

334,35808

24,091 23

30,67305

25,57411

100,23801

125,13780

103,16887

2,02298

4,63958

4,63958

10,93803

$

199,30988 $

278,22365 $

476,06207

$

20,756 24 $

15,056 51

3,95545

3,794 40

$

----'0'-'0"'0'-

202,51879

196,00581

$

000 $

227,23048 $ _----'2,.,1.::.4,"'8"'56<...7'-'2'-

$

199,30988 $

505,454 13 $ ~-.,;6~90=,9,;,;18;;"7:,,;9;,,

- 23-

CITY OF VIDALIA BOARD OF EPUCATION - TOOMBS COUNTY COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BAlANCES
SPECIAL REVENUE FUND YEAR ENDED JUNE 30, 2002

REVENUES
State Funds Federal Funds Other Funds
Total Revenues
EXPENDITURES
Current Instruchon Support Services Pupil Services Improvement of Instructional Services General Admlmstratoon School AdminIstration Student TransportatIOn Services Central Support SeMces Food Services OperatIon
Total Expenditures
Excess of Revenues over (under) Expenditures
FUND BAlANCE JULY 1
Food Inventory - Net Change In Penod Donated Commodities Purchased Food
FUND BALANCE JUNE 30

SCHOOL FOOD
SERVICES FUND

LOTIERY PROGRAMS

$

64,40200 $

588,22027

248,07396

$

900,69623 $

63,86899 63,868 99

$

63,86899

$

894,18325

$

894,18325 S

$

6,51298 $

214,856 72

5,69973 161 05

63,86899 000 000

$

227,23048 $ _ _~_ _O_OO_

See notes to the general-purpose financial statements - 24

EXHIBIT"H"

FEDERAL PROGRAMS

TOTALS

YEAR ENDED

JUNE 30, 2002

JUNE 30, 2001

$

128,27099 $

117,57000

$ 1,324,177 32

1,912,39759

1,633,92821

248,07396

238,27573

$ 1,324,177 32 $ 2,288,74254 $ 1,989,77394

$

951,44161 $ 1,015,31060 $

803,55780

39,39519 216,31396
64,19786
51,90570 92300

39,39519 216,31396
64,19786
51,90570 92300
894,18325

12,472 38 207,37623
67,896 22 72 00
14,93031
909,14501

$ 1,324,177 32 $ 2,282,229 56 $ 2,015,44995

$

000 $

6,51298 $

-25,67601

000

214,85672

236,35727

5,69973 161 05

4,177 32 -1 86

$

000 $

227,230 48 $ _.....,;2~1~4;;,,8~56=-:,;72;;.,

- 25-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30, 2002

ASSETS Cash and Cash EqUivalents Accounts ReceNable
Total Assets
LIABILITIES AND FUND EQUITY LIABILITIES
Cash Overdraft Accounts Payable Contracts Payable Relamages Payable
Total LIabilities FUND EQUITY
Fund Balances Reserved For Purposes of Bond Issue For SPLOST Projects Unreserved DefiCIt Undesognated Total Fund Equity
Total Liabilities and Fund EqUity

REGULAR

BOND PROCEEDS

$

62,62551 $

17,79541

$

62,625 51 $ ~=",1d.7~,7g;95~4~1~

$

25,37400

2,764 00

$

28,13800

$

17,79541

S

34,48751

000

$

34,48751 S

17,79541

$

62,625 51 $ _ _~1:.:7~?~9~5;;;4~1=

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

EXHIBIT "I"

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS

JUNE 30, 2002

JUNE 30, 2001

$

785,74787 S

866,16879 $

934,18172

S

000

290,71946

290,71946

287,58670

$

000 $ 1,076A67 33 S 1,156,88825 $

$

7,664 00

S

7,664 00

$

7,664 00

$

17980

25,37400

179,84517

2,764 00

39,234 85

$

35,80200 $

219,25982

$

17,79541 $

$ 1,076,467 33

1,076A6733

168,35507 801,06613

$

-7,664 00

000

-7,664 00

000

34,48751

33,08740

$

-7,664 00 $ 1,076A6733 $ 1,121,08625 $ 1,002,508 60

$

000 $ 1,076A67 33 $ 1,156,88825 $ 1,221,76842

- 27-



T.

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING STATEMENT OF REVENUES. EXPENDITURES ANp CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30. 2002

REVENUES State Funds Taxes Other Funds
Total Revenues
EXPENDITURES Caprtal Outlay Land and Land Improvements BUilding and BUilding Improvements EqUipment Total Expenditures
Excess of Revenues over (under) Expendrtures
OTHER FINANCING SOURCES (USES) Operating Transfers In Operabng Transfers Out Total Other FinanCing Sources (Uses)
Excess of Revenues and Other FinanCIng Sources over (under) Expenditures and Other FinanCIng Uses
FUND BALANCE JULY 1
FUND BALANCE JUNE 30

REGULAR

BOND PROCEEDS

$

30,000 00

$

$

30,000 00 $

000 000

$

11,03100 $

43,99375

89,16844

89,89730

560000

$

100,199 44 $

139,491 05

$

-70,19944 $

-139,491 05

$

83,22250 $

2,9873t

-11 ,62295

-14,05592

$

71,599 55 $

-11 ,068 61

$

1,400 11 $

-150,55966

33,08740

168,35507

$

34,487 51 $ ===1,;.;7..,.7;,,;9.5...4;,;1_

See notes to the general-purpose finanCial statements - 28-

EXHIBIT "J"

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS

YEAR ENDED

JUNE 30, 2002

JUNE 30, 2001

$

30,00000

$

952,686 08

952,68608 $ 1,178,236 16

$

--!i.0.!!:00~

9,06993

9,06993

22,90361

$

000 $

961,75601 $

991,75601 $ 1,201,13977

$

180,33717 $

235,36192 $

51,96983

$

7,664 00

762,27200

949,00174

807,690 76

16,43720

22,03720

$

7,664 00 $

959,04637 $ 1,206,400 86 $

859,66059

$

7,664 00 $

2,70964 S

214,64485 $

341,47918

$

272,69156 $

358,901 37 $

119,299 41

-25,67887

-7,36100

$

272,69156 $

333,22250 $

111,93841

$

-7,664 00 $

275,401 20 $

118,577 65 $

453,41759

000

801,066 13

1,002,50860

549,091 01

$

7,664 00 $ 1,076,467 33 $ 1:121,08625 $ 1,002,50860

- 29-

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING BALANCE SHEET DEBT SERVICE FUND JUNE 3Q 2002

EXHIBIT"K"

ASSETS Cash and Cash EqUivalents

PROPERTY TAXES FOR BOND DEBT

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS

JUNE 30, 2002

JUNE 30, 2001

$

000 $

287,731 21 $

287,731 21 $ ~_=1~5~,64::;;;:8:.:8;;,:1~

FUND EQUITY
Fund Balances Reserved For Debl Service Unreserved Undeslgnated

$ $ _ _---'0"-'00""-

287,731 21 $ 000

287,731 21 $ 000

15,64881 000

Total Fund EqUity $

000 $

287,731 21 $

287:731 21 $=~~15;;,;,64=8,,:;:8.:..1

See notes to the general-purpose financial statements
- 3Q-

CITY OF VIDALIA BOARD OF EDUCAliON - TOOMBS COUNTY COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
DEBT SERYICE FUND YEAR ENDED JUNE 30 2002

EXHIBIT "L"

PROPERTY TAXES FOR BOND DEBT

SPECIAL PURPOSE LOCAL OPTION SALES TAX

TOTALS YEAR ENDED JUNE 30 2002 JUNE 30, 2001

REVENUES

Taxes Other Funds

$

679,84261 $ 679,84261 $ 400,46317

$

1623

1,801 06

1,817 29

5,04997

Total Revenues

$

1623 $

681,64367 $ 681 ,65990 $ 405,513 14

EXPENDITURES

Debt service Pnnclpal Interest Paying Agent Fees

$ 235,000 00 173,78250 79500 $

S
000

23500000 $ 17378250
79500

20500000 183,72500
79500

Tatal ExpendItures

$ 409,577 50 $

000 $ 409,577 50 $ 389,52000

Excess of Revenues over (under) Expendrtures

S -409,561 27 $

681,64367 $ 272,08240 S

15,99314

OTHER FINANCING SOURCES (USES)

Operating Transfers In Operating Transfers Out

S 409,561 27 $

S
-409,561 27

409,561 27 $ -409,561 27

38966735 -390,011 6B

Total Other FinanCing Sources (Uses)

S 409,561 27 $ -409,561 27 $

000 S

-344 33

Excess of Revenues and Other Fmanclng Sources over (under) ExpendItures and Other Flnanc:lng Uses $

000 $

272,08240 $ 272 082 40 $

1564881

FUND BALANCE JULY 1

000

15,64881

15,64881

000

FUND BALANCE JUNE 30

s

000 $

287731 21 $

287:731 21 $ _ _.15.;;;,6;:;4:;;8:.:8~1~

See notes to Ole general-purpose finandal slatements

- 31 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED JUNE 30 2002

SCHEDULE "1"

FUNDING AGENCY PROGRAMIGFIANT
Agr1aJllure. U S Department of Child Nutnnon Cluster Pass-Ttvough From Georgia Department of Education Food and Nutnllon Program Food ServIces School Breakfast Program Natlooal School Lunch Program
Total Child NutntlOn Cluster
Other Programs Pass-Through From Georgia Department of Eduea1Jon Food and Nutntlon Program FoOd Dlslnbutlon Program (1) Pass-Through From Office of SChool Readiness Food and Nutnbon Program Chlld and Adult Care Food Program
Total U S Depanmem 01 Agnwtture
Educallon U S Department of Special EducatJon Cluster Pa55-Through From Georgia Department of EducalJon IndiVIduals WIth Dlsab.UlJes Education Ad Part B - Speoal Education Capadty BUilchng Improvement
Flow Through Preschool
Tolal Speoal Edl"lCStion Cluster
Other Programs Pass-Through From GeorgJa Department of EducatJon Comprehensive Sdlool Reform DemonstrabOn Elementary and Secondary Education Ad Tolle I Grants to Local Educational Agendes ntle II EIsenhower ProfeSSIonal Development Title III TecIYlology Lrterocy Challenge Fund Grants Title VI InnovatIve EducatIOn Program Strategies Oas& Size RedudJon VocalJonal Education - BaSIC Grants to States High Sdlool Program Basic Grant
Tolal U S Department of Education

CFRA NUMBER

PASSTIiROUGH
ENTITY ID
NUMBER

FEDEFIAL REVENUE IN PERIOD

EXPENDrnJRES IN PERIOD

10553 10555

NJA $ NJA
$

104 489 86 422309 49 $
526799 35 $

(2) 835,39904 (3)
83539904

10550 10558

NJA
NJA
$

58784 21
2636 71 58822027 $

58 784 21
(2) 894 18325

84 027 84 027 84 173

NJA $ NJA NJA
$

316700 $ 246 986 27
961800
259771 27 $

316700 246 986 27
9.61800
259.771 27

84 332
84 010 84 281 84 318 84298 84340
84048

NJA

6881700

68 817 00

NJA

700,64027

700 640 27

NJA

18954 60

18.954 60

NJA

12181995

12181995

NJA

19.33820

1933820

NJA

102,35703

10235703

NJA

3247900

3247900

$

1 324177 32 $

1,324177 32

Total Federal Rnanoal Assistance NJA ::z Not Avai!able

$

1 912,39759 $

2,21836057

- 32-

CITY OF YJDALIA BOARD OF EDUCATION - TQQMBS COUNTY SCHEDULE OF EXPENDITURES OF FEOERAL AWARDS YEAR ENDED JUNE 30 2002

SCHEDULE .,.

Notes to the SChedule of Expenditures of Federal Awards
(1) The amounts shown for the Food Dtstnbutlon Program represents the Federally aSSIgned value of norvnonetary assIStance for donated commochbes recetved and/or consumed by the system dunng the rorrent fiscal year
(2) ExpendItures tor the Child and Adu" Care Food Program and the Sdlool Breakfast Program were not maintained
separately and are IndOOed In the 2002 NaUonal SdlooI Lunch Program (3) Expenlht..... for U.s program Include State. and/or Other Funds
ExpendrtUllS are not mamtallled by fund SOIA'ce
MajOf Programs are identified by an asterisk (') In front of the CFDA number
The School D1str1ct did not provide Federal AssIstance to any SubrooPlent
The accompanying schedule of expenditures of Federal awards indudes the Federal grant activity of the City of VIdalia Board of Educabon and 1$ presented on the mocIlfl8d acaual basis of accounting whlch IS the basis of aCCOUlbng used U1 the presentation of the general-purpose finandal statements

See notes to the general-purpose flJl3J1oal statements

- 33 -

CITY OF VIDALIA BOARp OF EDUCATION - TOOMBS COUNTY SCHEPUlE OF STATE REyENUE YEAR ENDED JUNE 30 2002

SCHEDULE "2"

AGENCY/FUNDING

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

TOTAL

GRANTS Commumty Affairs Georgia Department of Local Aulstance Grant

$ 3000000 S

30,000 00

EducalJon Georgia Department of

Quality BaSIC Education

DIrect Instrucoonal Cost

Kmdergarten Program

$ 489,701 00

Kindergarten Program - Ear1y InterventJon Program

179,582 00

Primary Grades (1-3) Program

1 218,04000

Pnmary Grades - Earty lnterventlon (13) Program

439,391 00

Upper Elementary Grades (4-5) Program

69557100

Upper Elementary Grades -

Earty Interventlon (4-5) Program

154 587 00

Middle School (6-8) Program

1,396 789 00

High School Gen8fll1 Educabon (9-12) Program

1,23305100

Vocabonal Laboratory (9-12) Program

417.76800

Students WIth Dlsablbtles

Category I

4564600

Category II Category III

208134 00 50876300

Category IV

100954 00

Gifted Student - Category VI

58,58800

Remedial Educahon Progflillm

39,38200

A1lemauve Educabon Program
20 Days. Addloona\ InstruC\K)n

109,14400 7265300

Media Center Program

22482400

Staff and ProfessIOnal DevelOpment

38,96800

Indirect Cost

1,47301800

Categoncal Grants

PUp'l Tran~portabOn

Regular

'57,25200

Bus Reptaeement

3679700

Span;rty GllInt

20,00000

NUfSlng ServiceS

60 859 00

PnnCl.pal Supplemenm

9,17600

Vocatronal Supervlsors

1516200

Migrant Education

79500

Mid-term AdJUstment Hold-Harmless

24768300

Deferred Summer Salanes (Current Year)

1 304,49200

Educauon Equalization Funding Grant

85916500

Food SeMCe5

$ 6440200

Vocabonal Educebon

1078500

Other State Programs

Health Insurance

14670672

Mentor Teachers PMt Secondary Optrons

196900 39600

Preschool Handlcspped Program

3666800

Statewide After SChool (4 8) Program Slatewtde Readmg (K-3) Program

2255280 26,78308

Lottery Progl1illm,

AaSla11V8 Technology Computel1J 10 the Classroom

506900 58799 99

489701 00 17958200 1 21804000 43939100 69557100
.54 58700 1 396 78e 00 1,23305100
417,768 00
4564600 208134 00 SOB 763 00 100954 00
5858800 3938200 109,14400 1265300 22482400 3896600 1 47301800
157,25200 3679700 20000 00 60,85900 9 17600 1516200 79500
24768300 1 304 492 00
85916500 6440200 1078500
146706 72 1 98900 396 00
3666800 2255280 2678308
506900 5879999

Georgia CoUnCIl tor the Arts Georgaa Challenge

210348

2,10348

Office of the Governor Children and youth Coordlnatlng Caunal OASIS Grant

60339

60339

34

CITY OF Y1pALLA. BOARD OF EDUCATION - TOOMBS CQUNTY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30 2002

SCHEDULE "2'"

AGENCY/FUNQING
GRANTS
Office ot Treasury and Fiscal SeMCes
PublIC SChool Employees Rebrement

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

TOTAL

$ _--,'",9,-=,5,-,70,-0",0,--

$ _ _-,',,9.::5.'-70,,-,,00,,-

S 12 186 092 47 S 12827099 S 30000 00 S 12244 36346

See notes to the genetllll-purpose finanCIal statements

35

CITY OF "'PAllA BOARD OF EDUCATION TOOMBS COUNTY SCHEPULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS
yEAR ENDED JUNE 30 2002

SCHEDULE "3"

PROJECT
Retirement of the School DlStrlct', City of VtdaU3 General ObligatIOn Bonds Senes 1995 In the maximum amount of S4 276,602 60
Development of tramtng and reaeallonal f8Cllllles at Vidalia High School In the maximum amount of $ 1 006 739 60
RenovatIOn of J D DlCkeraon School and Sally Meadows School In the maximum amount of $640 15781
eon,trucbOn of soence and technology
laboratones at Vidalia High SChool m the
maximum amount of $500 000 00
Construchon of JOint football stadium with Toombs County Board of EducatIOn In the maXImum amooot of $1,000 000 00

ORIGINAL ESTIMATED
COST (1)

CURRENT ESTIMATED COSTS (2)

AMOUNT EXPENDED IN CURRENT
YEAR (3)

AMOUNT EXPENDED
IN PRIOR YEARS (3)

PROJECT STATUS

$ 4,276,60260 $ 4 27660260 S 409577 50 $ 389,52000 Ol1QOlng

1 006 739 60 128529916

86902191

410 709 25 Ongoing

64015781

812405 86

9002446

357 38 1 40 Ongoing

SOD 000 00

77672300

Ongoing

1000 000 00

1000,000 00

Ongomg

$ 7,42350001 $ 81'51 13062 $ 11368 162387 $ 11157161065
(1) The School DlStnc:!'s ongmal cosl e5tJmate as Specified In the resoluhon caULng for the Impo5Jtlon of the Local Opbon Sales Tax
(2) The School DI,lnct, currant estrmate of total cost for tha prtlf8CtS Includes all cost from project mceptlon to comP'euon (3) The voters of Toombs County approved the Imposrtlon of a 1% sales tax to fund the above projects
Amounts expended for these pr~ may If\dude sales tax proceeds, slate local property taxes end/or othBl'" funds over the IIfa of the projects

See note, to the general-purpose finanaal statements

- 37 -

.~--..,.---;_~~r:-r- ~.---~~------------

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY GENERAL FUND aUALITY BASIC EDUCATION PRQGRAM raBEI
ALLOTMENTS AND EXPENDITURES - BY PROGRAM YEAR ENDED JUNE 30 2002

SCHEDULE 4-

DESCRIPTION
Dnect Instructlonal Programs Kindergarten Program Kindergarten Program-Early IntervenlJon Program Pnmary Grades (1-3) Program Prunary Grades-Earty Inlervenllon (1-3) Program Upper Elementary Grades (4-5) Program Upper Elementary Grades-Ear1y Intervention (4-5) Program Moddle Sellool (6-8) Program Hlgh Selleel General Educahon (9-12) Program Vocatronallaboratory (912) Program Students WIth Dtsablbhes category I Category II Category III Categery IV Gifted SluClElnt Category VI Remedial Educahon Program AJtemalJve Education Program
TOTAL DIRECT INSTRUCTIONAL PROGRAMS
Media Center Program Staff and ProfessIOnal Development

ALLOTMENTS FROM GEORGIA DEPARTMENT OF
EDUCATION (1)

ELIGIBLE aBE PROGRAM COSTS

SALARIES

OPERATIONS

TOTAL

$

5'1298900 $ 55585570 $

211 16 S

600.066 56

19912400

15'1.54003

2.92853

151468 56

1.350 58-4 00 1.,.233374

1.32095

1 286,654 69

487.20500

48852203

1033072

49885275

771.26100

861,133

82,531 05

943 B6-4 49

171 ..0900 1 5'18 7Bo1 00 1 367.22900
46322800 957460 00
BoI.964 00 43,66700 121,021 00

12989342 1 67889759 151583977
49772426
100,82243 247,11053 327 BoI8 81
78301 78 117,06185 67 17692 16729944

448501 9534237 136 570 53 4993223
2.17180 9134 95 1658051 281068 1 154 14
241 40 286345

134 37843 1,774.23996 1.65241030
547.656 49
10299423 256 245 48 344"2932
81 11246 11821599 6741832 17016289

$

8088,92500 $ 8130 361 74 S 60560948 $ 8.735971 22

24928900 4320800

31033505 25,511 34

72 435 90 17,877 52

38277095 43.38886

TOTAL aBE FORMULA FUNDS

$

8381,42200 $ 846620813 S 69592290 $ 916213103

(1) Compnsed of State Funds plus loal! Five Mill Share

See nates to the genera,"puq:lose flnanclat statements

38 -

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY GENERAL FUND - QUALITY BASIC EDUCATION PROGRAM (QBEl
ALLOTMENTS AND EXPENDITURES - BY SITE YEAR ENDED JUNE 30 2002

SCHEDULE "5"

J R Tnppe Middle School Vidalia Comprehensive High School J D Dickerson Pnmary School Sally Dalley Meadows Elementary School Allematlve School Program Central Office (Anernafive Educefion Program)
TOTAL
(1) Compnsed of State Funds plus Local Five Mill Share

ALLOTMENTS FROM GEORGIA DEPARTMENT OF EDUCATION (1)

ELIGIBLE aBE PROGRAM COSTS

$

1,821,11500 $

2,086,837 98

2,214,13900

2,631 ,498 71

2,081,26700

2,047,90808

1,851,38300

1,916,13001

53,596 44

121,02100

$

8,088,925oo $ ==8,.7.3;;;5;;,;,9;,;,7,,;,1,;;22;;,

See notes to the general-purpose finanCial statements 39

SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS

RI''-~H I W. IIINT()~
51....l!:: AUOITOH
1_1,.t.l)5F.' ~\

DEPARTMENT OF AUDITS AND ACCOUNTS
2';4 W.I1:>hmglon 'itrccl S W l;)ullC 214
Atl,In'''', (,wrg',1 30114-H41~1
Apnl II, 2003

Honorable Sonny Perdue. Governor Members of the General Assembly Members of the State Board of Education
and Supenntendent and Members of the City ofVldaha Board of Education
REPORT ON COMPLLA.NCE AND ON INTERNAL CO'\lTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladles and Gentlemen
We have audIted the finanCIal statements ofCtty ofVldaha Board of EducatIOn as of and forthe year endcd June 30, 2002, and have Issued our report thereon dated Apnl II. 2003 ThIS report \\ as qualIfied for vanous departures from generally acecpted accountmg pnnclplcs, as Identified m the auditor's report on the general-purpose financIal statements We conducted our audit m accordance wIth audltmg standards generally accepted m thc United States of Amcnea and the standards apphcable to financIal audits eontamed m Government Audltmg Standards, Issued by the Comptroller General of the Umted States
Comphance
As part of obtaIning reasonable assurance about whether CIty of VIdalIa Board of Education's finanCIal statements are free of matenal misstatement, we performed tests of liS complIance with eertam provIsIons oflaws, regulatIOns, contracts and grants, noncomplIance with which could have a direct and matenal effect on the determmatlon of financIal statement amounts Howevcr. provldmg an opmlOn on complIance with those proVISIOns was not an objective of our audit. and accordmgly. we do not express such an opInion The results of our tests disclosed no mstances ofnoneomplIanec that arc rcqulred to be reported under Government Audltmg Standards
Internal Control Over Fmanelal Reportmg
In planning and performmg our audIt, we conSIdered Clly of VidalIa Board of EducatIOn's mternal control over finanCIal reportmg m order to determme our auditing procedures for the purpose of expressmg our opmlon on the finanCial statements and not to proVide assurance on the mternal
2002YB-40

control over financial reportmg However, we noted certam matters mvolvmg the mternal control over financial reportmg and Its operation that we consider to be reportable conditIOns Reportable condlhons mvolve matters commg to our attenhon relatmg to slgruficant defiCienCies In the design or operahon ofthe mternal control over financial reportmg that, In ourJudgment, could adversely affect City ofVIdaha Board of EducatIOn's abIlzty to record, process, summanze and report financial data consistent With assertions of management m the financial statements Reportable conditIOns are descnbed m the aceompanymg Schedule ofFmdmgs and Queshoned Costs as Items FS-793 1-02-01 and FS-7931-02-02
A matenal weakness IS a condlhon m which the deSign or operahon of one or more of the mternal control components does not reduce to a relahvely low level the nsk that misstatements In amounts that would be matenal m relahon to the financial statements bemg audited may occur and not be detected wlthm a hmely penod by employees m the normal course of performmg their assigned funchons. Our conslderahon of the mternal control over financial reporting would not necessanly disclose all matters m the mternal control that might be reportable eondillons and, accordmgly, would not necessanly disclose all reportable condillons that are also considered to be matenal weaknesses However, ofthe reportable conditions descnbed above, we consider Item FS-793 1-0202 to be a matenal weakness
This report IS mtended solely for the mformahon and use of the management, members ofthe City of Vldaha Board of Educahon, Federal awardmg agencies and pass-through entlhes and IS not mtcnded to be and should not be used by anyone other than these specified partiCS.
Respectfully submitted,
-- uJ~
Ru sell W Hmton State Auditor
RWH as 2002YB-40

RV'~~II W. HI/dON
S TATr AlICI J('fI
I4:;'" i (!..E) ,~

DEPARTMENT OF AUDITS AND ACCOUNTS
25-1- WJ... hmgllln ~lrCCI ~ W ~Ulh: 214 AII.ml.l, GcnrglJ 1()ll4-~()O
Apnl II, 2003

Honorable Sonny Perdue, Governor Members of the General Assembly Mcmbers of the State Board of EducatIOn
and Supenntendent and Members ofthc CIty ofVldaha Board of EducatIon
REPORT ON COMPLIANCE WITH REOUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
Ladles and Gentlemen
Comphancc
We have audited thc comphance of City ofVldaha Board ofEducatIOn with the types ofcomphance requlrcmcnts dcscnbed In the US Office of Management and Budgct (OMB) Circular A-133 Compliance Supplement that are apphcablc to each of liS major Federal programs for the year ended June 30, 2002 City of Vldaha Board of EducatIon's major Federal program IS Idcntlfied In the Summary of Auditor's Results SectIOn of the accompanymg Schedulc of FIndIngs and Qucslloncd Costs Comphance WIth the requlremcnts oflaws, regulatIOns, contracts and grants applicable to Its major Federal program IS thc responslblhty of City of VIdalia Board of EducatIon's management Our responsibilIty IS to express an opInIOn on CIty ofVldaha Board ofEducatIOn's complIance based on our audit
We conducted our audit of comphance In accordance with auditIng standards gencrally acccpted In the Umtcd States of Amenca, the standards apphcable to financial audIts contaIncd In Governmcnt AudItIng Standards, Issued by thc Comptrollcr Gcneral of the Umted States, and OMB Circular A133, Audas of States, Local Governments, and NOll-Profit Orgam::atlOlls Those standards and OMB CIrcular A-133 require that we plan and perform thc audit to obtam reasonable assurancc about whether noncomplIance With the types ofcomphancc reqUIrements referred to abovc that could have a direct and matenal effect on a major Fedcral program occurred An ,lUdlt Includes cxamInIng, on a test baSIS. eVidence about the City of Vldaha Board of Educallon's comphancc With those rcqUlremcnts and performIng such othcr procedures as we conSIdered neccssary In thc cIrcumstances Wc beheve that our audit proVides a reasonable baSIS for our opinIOn Our audit docs not proVide a legal determInatIon on City of VIdalIa Board of Education's comphance wltlI those requm:ments
2002SA-IO

In our opmlon, the City of VIdaha Board of EducatIOn complIed, m all matenal respccts, WIth the reqUirements referred to above that are applIcable to Its major Fcderal program for the year ended June 30, 2002
Internal Control Over ComplIance
The management of City of VidalIa Board of EducatIOn IS responsible for establIshmg and mamtammg effectIve mternal control over complIance With reqUirements of laws, regulatIOns, contracts and grants applIcable to Federal programs In plannmg and performmg our audIt, we conSIdered CIty of VidalIa Board of EducatIOn's mternal control over comphance wIth reqUirements that could have a direct and matenal cffect on a major Federal program m order to determme our audltmg procedures for the purpose of expressmg our opmlon on comphance and to test and rcport on mternal control over complIancc m accordance With OMB CIrcular A-133
Our consldcratIon of the mternal control over complIance would not nece~sanly disclose all matters m the mternal control that mIght be matenal weaknesses A matenal wcakness IS a conditIon m whIch the deSign or operatIon of one or more ofthe mternal control components does not reducc to a relatIvely low level of nsk that noncomphance WIth applIcable reqUirements of laws, regulatIOns, contracts and grants that would bc matenal m relation to a major Federal program bcmg audited may occur and not be detected wlthm a tImcly penod by employecs m the normal course of performmg their asSIgned functions We noted no matters mvolvmg the mternal control over complIance and ItS operatIon that we conSIder to be matenal weaknesses
This report IS mtended solely for the mformatIon and use of the 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 parties
Respectfully submItted,

RWH as 2002SA-lO

Ru ell W Hmton State AudItor

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

CITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY AUDITEE'S RESPONSE
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS Ai'lL> QUESTIONED COSTS YEAR ENDED JUNE 30, 2002

PRIOR YEAR FINANCIAL STATEMENT FINDINGS AND mJESnONED CQSTS

FINDING CONTROL NUMBER AND STATUS

FS-793 1-00-0 I FS-7931-01-01 FS-7931-01-02

Further ActIon Not Warranted Unresolved - See CorrectIve ActlOnlResponses Unresolved - See Corrective ActIon/Responses

CORRECTIVE ACTIONIRESPONSES

CASH AND CASH EQUIVALENTS Inadequate SeparatIon of DutIes Fmdmg Control Number FS-7931-0 1-0 I

The City of VidalIa Board of EducatIon WIll establIsh a receIpt log to be mamtamed by the Qffice Manager and WIll have another party revIew and SIgn offon bank reconcIlIatIons m order to resolve thIS findmg

GENERAL FIXED ASSETS Failure to Mamtam General Fixed Assets Account Group Fmdmg Control Number FS-7931-0 1-02

The City of VIdalIa Board of EducatIon has contracted through FIrst Dlstnct RegIOnal EducatIonal ServIce Agency wIth Valuallon AdvIsory Group m order to establIsh General Fixed Assets The School Dlstnct WIll be accountmg for General FIxed Assets m fiscal year 2003 m order to comply WIth GASB 34 ThIs findmg should be resolved m thc next audit penod

SECTION IV FINDINGS AND QUESTIONED COSTS

CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2002
II FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS
CASH AND CASH EQUNALENTS Inadequate SeparatIon of Duties Reportable ConditIon Repeated From Pnor Year Finding Control Number FS-7931-02-01
An examinatIOn of the Internal accounting control procedures revealed that the School Dlstnct did not prOVide for adequate separatIon of dutIes In the performance of the follOWing accounting functIOns and related procedures
The bank reconCI hatlon functIOn was not separated from check preparatIOn. In addition, bank reconclhatIons were not reviewed by an indiVidual Independent of the bank reconcIlIatIOn process
The bookkeeping functIon was not separated from the cash receipts functIOn
These conditIons were a result ofmanagement's deciSion to hmlt the number of adminIstrative staff made responSible for accounting functIons The School Distnct should review the accountmg procedures In place, deSign procedures whIch would enhancc scgrcgatIon of dutIcs relatlvc to thc above control catcgones and Implement those procedures to strengthen the Internal control over accounting functions
GENERAL FIXED ASSETS FaIlurc to Maintain General Fixed Assets Account Group Reportable Condition - Matenal Weakness Repeated From Pnor Year Finding Control Number FS-7931-02-02
Thc City of VidalIa Board of Education did not maintain a system-Wide General Fixed Assets Account Group Within thc formal accounting records as reqUIred by generally accepted accounting pnnclplcs ThiS condition results III thc general-purpose finanCial statements ofthe School Dlstnct being mcomplete and not III accordance With generally accepted accounting pnnclples Appropnatc actIOn should be taken by the School Dlstnct to establIsh accounting controls and procedures to prOVide for mamtenance of a Gcncral Fixed Assets Account Group These SUbSIdiary records should mclude an mvcntory of land, bUlldmgs and eqUIpment owned by the School District and should mclude, but may not be hmlted to, date acqUIred, acquISItIon cost, estlmatcd replacement cost, locatIOn and dcscnptlOn Detailed records should be malntamed of all additions and deletions to the General Fixed Asscts Account Group
III FEDERAL AWARD FINDINGS AND OUESTIONED COSTS
No mattcrs were reported
-2-

CITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY SCHEDULE OF FINDINGS AND OUESTIONED COSTS YEAR ENDED JUNE 30, 2002

I SUMMARY OF AUDITOR'S RESULTS

Type of Report Issued on the Fmanclal Statements The audItor's 0plillon on the CIty of VIdalIa Board of EducatIOn's financIal statements was quahfied for vanous departures from generally acceptcd accounting pnnclples

2 Reportable CondItIons In Internal Control DIsclosed by the Audit of the FinancIal Statcments The audIt report for the CIty of Vldaha Board of EducatIon dIsclosed financIal statement reportable conditIOns related to the follOWing control categones

Cash and Cash EqUivalents

General Fixed Assets

Of the reportable conditIOns descnbed above, General FIxed Assets IS consIdered to be a matenal weakness

3 Noncomphance Matenal to the FinancIal Statements The audit of the CIty ofVIdalIa Board of Education dIsclosed no Instances ofnoncornplIancc that were deemed to be matenal to thc financial statements

4 Reportable CondItIOns In Internal Control Over Major Programs The audIt report for the CIty ofVldaha Board of EducatIOn dId not dIsclose any reportable condItions In Internal control over major programs

5 Type of Report Issued on ComplIance for MaJOr Programs The auditor's OpinIOn on the City of VIdalIa Board of EducatIOn's report on complIance With reqUlremcnts applIcable to major programs was unqualIfied

6 AudIt Fmdmgs ReqUIred to be Reported by SectIOn 51 Ora) ofOMB Circular A-133 The CIty ofVldaha Board of EducatIOn's audIt did not disclose audIt findmgs reqUIred to be reported by section 5 IO(a) ofOMB Circular A-I33

7 MaJor Programs The Federal award audited as a major program IS as follows 84 010 Elementary and Secondary EducatIon Act - Title 1- Grants to Local Educational AgenCIes

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

9 Low Risk Audltee The CltyofVldaha Board of EducatIOn quahfied as a low nsk audltee as dcfined by SectIOn .530 ofOMB CIrcular A-l33

-I -