Review report, state of Georgia, Board of Regents of the University System of Georgia, Administrative Central Office, (oversight unit), year ended June 30, 1999

REVIEW REPORT STATE OF GEORGIA BOARD OF REGENTSOF THE UNIVERSITYSYSTEMOF GEORGIA ADMINISTRATIVE CENTRALOFFICE (OVERSIGHTUNIT) YEAR ENDED JUNE 30, 1999

BOARD OFREGENTS OF WE UNNERSDY SYSTEM OF GEORGIA ADMINISlRATIVE CENTRAL OFFICE CO\IERSIGlITUNID
TABLE OF CONfENTS

SECTION I

FINANCIAL

INDEPENDENT ACCOUNTANT'S COMBINED REPORT ON REVIEW OF FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION

EXHIBITS

FINANCIAL STATEMENTS

A COMBINED BALANCE SHEET

ALL FUND GROUPS

2

B COMBINED STATEMENT OF CHANGES IN FUND BALANCES

ALL FUND GROUPS

4

C STATEMENT OF CURRENT FUNDS REVENUES, EXPENDITURES,

AND OTHER CHANGES

7

D NOTES TO THE FINANCIAL STATEMENTS

8

SUPPLEMENTARY INFORMATION

E COMBINING BALANCE SHEET

CURRENT FUNDS UNRESTRICTED

26

F COMBINING STATEMENT OF CHANGES IN FUND BALANCES

CURRENT FUNDS UNRESTRICTED

27

G COMBINING STATEMENT OF CURRENT FUNDS REVENUES, EXPENDmJRES,

AND OTHER CHANGES

UNRESTRICTED

28

SCHEDULES

SCHEDULE OF REQUIRED SUPPLEMENTARYINFORMATION

29

SCHEDULES OF REVENUES AND EXPENDITURES COMPARED TO BUDGET

2

"A" RESIDENT INSTRUCTION

31

3

"B" REGENTS CENTRAL OFFICE AND OTHER ORGANIZED ACTIVITIES

32

4

"D" LOTTERY FOR EDUCATION

35

SCHEDULES OF APPROVED BUDGET

5

"A" RESIDENT INSTRUCTION

36

6

"B" REGENTS CENTRAL OFFICE AND OTHER ORGANIZED ACTIVITIES

38

7

"D"LOTTERYFOREDUCATION

40

SCHEDULES OF BUDGET TRANSFERS TO OTHER UNITS

8

"A" RESIDENT INSTRUCTION

42

9

"B" REGENTS CENTRAL OFFICE AND OTHER ORGANIZED ACTIVITIES

46

10

"D" LOTTERY FOR EDUCATION

48

11 CHANGES IN INVESTMENT IN PLANT

50

BOARD OF REGENI'S OF TIlE UNIVERSDY SYSTEM OF GEORGIA AQMINISTRATIVE CENTRAL OFFICE fO\TERSIGHTUNIT>
-TABLE OF CONTENTS

SECTION I

FINANCIAL

SCHEDULES

12 SCHEDULE OF FUND BALANCES

CURRENTFUNDS ANDPLANT FUNDS

52

SCHEDULES OF ALLOTMENTS TO UNITS OF THE UNNERSDY SYSTEM

OF GEORGIA

13

"A" RESIDENT INSTRUCTION

54

14

"B" REGENTS CENTRAL OFFICE AND OTHER ORGANIZED ACTIVITIES

56

15

"0" LOTTERY FOR EDUCATION

57

16 ANALYSIS OF PRIOR YEAR'S SURPLUS FUNDS COLLECTED FROM INSTITIITlONS

AND REDISTRIBUTED TO INSTITUTIONS WlTII DEFICITS

58

17 RECONCllJATION OF SALARIES AND TRAVEL

60

SECTION II AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS

SECTION I FINANCIAL

RUSSELL W. HINTON
STATEAUDITOR
(404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.w., Suite 214 Atlanta, Georgia 303348400
November 5, 1999

Honorable Roy E. Barnes, Governor
Members of the General Assembly of Georgia Members of the Board ofRegents of the University System of Georgia
and Honorable Stephen R. Portch, Chancellor
INDEPENDENT ACCOUNTANT'S COMBlNEP REPORT ON RJMEW OF FINANCIAL STATEMENTS AND SuppLEMENTARY INFORMATION
Ladies and Gentlemen:
We have reviewed the accompanying financial statements (Exhibits A through D) of the Administrative Central Office (Oversight Unit) of the Board of Regents of the University System of Georgia as of and for the year ended June 30, 1999, in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. All information included in these financial statements is the representation of the management of the Administrative Central Office.
The financial statements referred to above include only the activities of the oversight unit of the Board of Regents ofthe University System of Georgia. Financial activities of other organizational units (the various State colleges and universities) are not included.
A review consists principally of inquiries of the Administrative Central Office personnel and analytical procedures applied to financial data It is substantially less in scope than an audit in accordance with generally accepted auditing standards, the objective ofwbich is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.
Based on our review, with the exception of the matters described in the fourth and fifth paragraphs, we are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in conformity with generally accepted accounting principles.
As disclosed in Note 1 to the financial statements, generally accepted accounting principles require encumbrances to be recorded as a reservation of fund balance. However, in accordance with Georgia Law and State budgetary policy, management recorded encumbrances as expenditures and liabilities. The effects of this departure from generally accepted accounting principles on the financial statements were not reasonably determinable.
99ARL-67X

As disclosed in Note 1 to the financial statements, the Administrative Central Office did not report the liability and related expenditure for compensated absences in the current funds as required by generally accepted accounting principles. If compensated absences were reported, liabilities would be increased and . fund balance would be decreased by $1,303,437.57 as ofJune 30, 1999, andthe net change in fund balance for the year ended June 30,1999, would be decreased by $259,201.46.

Our review was made for the purpose of expressing limited assurance that there are no material modifications that should be made to the financial statements in order for them to be in conformity with generally accepted accounting principles. The year 2000 supplementary information on Schedule" 1" is not a required part of the basic financial statements but is supplementary information required by the Governmental Accounting Standards Board. The accompanying combining statements (Exhibits E through G) and the financial schedules (Schedules 2 through 17) are presented for supplementary analysis purposes. Such information has been subjected to the inquiries and analytical procedures applied in the review ofthe financial statements, and except for the effects of the matters discussed in the fourth and fifth paragraphs, we are not aware of any material modifications which should be made thereto.
Respectfully submitted,
~!.tA..4J~

RWH:jb 99ARL-67X

State Auditor

FINANCIAL STATEMENTS -1

BOARD OF REGEtfiS OF THE UNIVERSITY SysTEM OF GEORGIA
ADMINISTRATIVE CENTRAL OFFICE (OVERSIGHT UNIT)
COMBINED BALANCE SHEET
ALL FUND GROUPS
JUNE 30 1999

CURRENT FUNDS

UNRESTRiCTED

RESTRICTED

ENDOWMENT AND SIMILAR
FUNDS

Cash and Cash Equivalents Invesbnents Accounts Receivable Investment in Plant

$

4,577,001.68 $

15,556,356.34

40,716,974.85

4,148,167.82 $

8,252,027.04

Total Assets

$

60,850,332.87 $

4,148,167.82 $ ~~~8~,2~52;,0: 27. .04,

LIABILITIES AND FUND BALANCES
Liabilities Accounts Payable
A1lobnents Due to Other Units
Employee Health Benefits Claims Deposits Held in Custody for Others Capital Lease Obligations
Total Liabilities
FundBalances Endowment Quasi-Endowment - Restricted Net Investment in Plant Resbieted Unresbicted
Total Fund Balances

Total Liabilities and Fund Balances

See Independent Accountanfs Combined Report on Review of Finandal Statements and Supplementary Information.
The notes to the finandal statements are an integral part of this statemenL
-2-

EXHIBIT"A"

PLANTFUNDS

INVESTMENT

UNEXPENDED

IN PLANT

AGENCY FUNDS

TOTAL (Memorandum
Only)

$

4,991,400.93

273,885.12 $

195,832,906.52

97,111,708.40 $

119,080,305.87 15,556,356.34 40,990,859.97
195,632,906.52

$

5.265,286.05 $ 195,632,908.52 $

97.111,708.40 $ 371,460,428.70

$

33,782.00

$

7,716,650.54

28,652,008.00

25,300,000.00

$

97,111,708.40

97,111,708.40

$

2,358,230.66

2,358,230.66

$

33,782.00 $

2,358,230.66 $

97,111,708.40 $ 161,138,597.80

$ 193,474,675.86

$

5,231,504.05

$

5,231,504.05 $ 193,474,675.88

$

3,612,043.20

4,639,983.84

193,474,675.86

4,148,167.82

4,446,980.38

$ 210,321,631,10

$

5,265,286.05 $ 195,632,906.52 $

97,111,708.40 $ 371,480,428.70

-3-

OF BOARp REGENTS OF THE UNI\IEBSITY SYSTEM OF GEORGIA
APMIN!STRATNE CENTRAL OffiCE <OVERSIGHT UNID COMBINED STATEMENT OF CHANGES IN FUND BALANCES
ALL BmD GROUPS yeAR ENDED JUNE 30 1999

REVENUES AND OTHER ADPITIONS
UnrestrictedCUrrentFund Revenues FederalGrants and Contracts State Grants and Contracts Private Gifts,Grants,and Contracts InvestmentIncome
Endowment Other Net Increase\Decrease In Fair Valueof Investments Adjustments Prior Years' ExpendItures/Accounts Payable Remittanceof UncommittedRegents Scho&Brshlps from Units of the UniversitySystemof Georgia Remittanceof UncommittedRegents OpportunityGrants from Units of the UniversitySystemof Georgia Remittanceof Surplusfrom Units of the UniversitySystemof Georgia
Year EndedJune 30, 1998 Expendedfor Plant Facilities
Current Funds Plant Funds
Unexpended Other Additions
Insurance Recoveries
Talai Revenuesand Other Addftions
EXPENDIWRES ANp OTHER PEPUCTIONS
Educationaland General Expenditures Adjustments
PrIor Years' RevenuesfAccounts Rec::eivable AdministrativeFees Refundedto Grantors UnreslrlcledFund Belance(SurplJs)
Returned to the Offlce of Treasuryand Fiscal services Year Ended June 30, 1998
Expended lor Plant Fedll1les CepItaU2ed NoncapltaU2ed
D1sposals/lleletlonslAdj...-ntll
Total expenditures end Other DeductIons
Me_ TRANSFERS BETWEEN FUNDS
InvestmentIncomefor EndQll1l8nt Principal RestrictedQuasi-EndowmentFlIlds AIocated State Appropriationsfor RestrictedQuasj..Endovwnent Fund
Total Transfers BetweenFunds
Net Increasel(Decrease)for the Year
FUNp BALANCES JULY 1 1998
FUND BALANCES JUNE 30 1999
See IndependentAcc:ount&nfs Combined Report on Reviewof FinancialStatements endSupplementaryInlormellon.
The notes to the financialstatementsare an Integral part of this statement
4

CURRENTFUNDS

UNRESTRICTED

RESTRICTED

239,583,827.07
75,541.80 6,406.00 24,286.08 2,037,443.16

62,000.00 8,830.00 10,000.00
259,911.67 115,663.11

241.729.504.11 S _ _..4.5:6!,:2:0~4~.7!8!.

255,759,987.30 21,969.02

305.661.72 36,242.46

2,170,802.08

257,952. 758.40 S

341.904.18

785.m.83 -3.000,000.00 2,214,722.17 -18,437,976.46 17,853,432.79
-784.543.67

231,193.65
-231,193.85 -116,893.25 4,265,061.07
4,148.167.82

EXHIBIT?

ENDOWMENT ANOSIMILAR
FUNOS

PLANTFUNOS

INVESTMENT

UNEXPENDED

IN PLANT

TOTAL (Memorandum
0nIyl

125.406.69 -125.406.69

233,818.36 6.321.44
7,260,648.65 7.520.786.65

239,583.827.07 62,000.00 8,630.00 10,000.00
259,911.67 349,481.47 119,085.25
75,541.80
8,406.00
24.286.08

5,995,028.01 12,833,144.55
18.828.172.56 S

2,037.443.16 5,995.028.01 12.633,144.55 7.280,648.85 268.409,261.41

0.00 326,664.33 13.140.15 48,400.20
14,512.29 12,833,144.55

0.00 S

13.235.881.52

1,779,547.97 1.779.547.97

256.065,649.02 348.833.35 49.382.81 48.400.20
2.165,314.37 12,833,144.55
1.779,547.97 273.310.072.07

231.193.85 .785,2n.83 3.000,000.00 2.445.916.02 2,320,509.33 5.931.517.71
8.252,027.04 S

_5.715,074.87 10,948.578.92

17.048.624.59 176,426,051.27

0.00 0.00 0.00
0.00
-4.900,810.66
215.222,641.78

523',504.05

193 474!675.~

210,321.831.10

5

seeIndependent Accounlanf. Combined Report on Review of Financial Slatements
and Supplemenlary Information.
The notes to the financial ._mants are an integral part of this slatemenl -7-

BOARDOF REGENTS OF TIIE UNIVERSITY SYSTEM OF GEORGIA
ADMINISTRATIVE CENTRAL OFFICE <OVERSIGHT UNID
NOIESTQ TIIE FINANCIAL STATEMENTS
JUNE3Q 1999

EXHIBIT"D"

NOTE l' SUMMARY OF SIGNIFICANT ACCOlJNTING POUCIES
REPORTING ENTITY The Board ofRegents of the University System ofGeorgia,an organizationalunit ofthe State ofGeorgia, was created by the "Reorganization Act of 1931", As ofJune 30, 1999, the Board of Regents of the University System ofGeorgia was composed of 34 institutions (4 research university level, 2 regional university level, 13 state universities/colleges and 15 associate degree colleges), Skidaway Institute ofOceanography and an administrative central office, which is the oversight unit, responsible for implementation of Board policies and administrative support. The Board of Regents, which is composed of sixteen members appointed by the Governor and confirmed by the Senate, has constitutional authority to govern, control, and manage the University System, as reaffirmed in the approval of the revised State Constitution in 1982. These powers include the authority for program approval or discontinuance, internal reallocation of the budget, facilities construction, or closure or merger of institutions. The Chancellor is appointed by the Board of Regents as chiefexecutive officer and serves at the pleasure of the Board.
The Board ofRegents of the University System of Georgia does not have authority to determine the amount of funding it will receive from the State of Georgia for any given fiscal year. Such authority is vested in the General Assembly ofGeorgia. The Board ofRegents also does not have authorityto retainunexpended State appropriations (surplus) for any given fiscal year. Accordingly, the Board of Regents of the University System of Georgia is included within the State ofGeorgia reporting entity for financial reporting purposes because of the significance ofits legal, operationaland financialrelationshipwith the State ofGeorgia. These reporting entity relationships are defined in Section 2100 of the Governmental Accounting Standards Board Codification of GoyernmentaJ Accounting and Fjnancial ~orting Standards.
The Administrative Central Office of the Board of Regents of the University System of Georgia is the "Oversight Unit" of the Board ofRegents and performs administrative functions and provides guidance to the thirty-four (34) State colleges and universities and Skidaway Institute of Oceanography which are organizational units of the Board ofRegents ofthe University System of Georgia.
The accompanying financial statements represent only the financial position and results ofoperations ofthe Administrative Central Office of the Board of Regents. The financial position and results ofoperations of other organizational units of the Board of Regents (various State colleges and universities) are not included in these financial statements.
FUND ACCOUNTING In order to ensure observance oflimitations and restrictions placed on the use of the resources available to the Board of Regents, the accounts of the Administrative Central Office are maintained in accordance with the principles offund accounting. This is the procedureby which resources for various purposes are classified for accounting and reporting purposes into funds that are in accordancewith activities or objectives specified. Separate accounts are maintained for each fund; however, in the accompanying financial statements, funds that have similar characteristics have been combined into fund groups. Accordingly,all financial transactions have been recorded and reported by fund group.
- 8-

BOARD OF REGENTSOF TIlE UNIVERSITY SYSTEMOF GEORGIA
ADMINISTRATIVE CENTRALOFFICE(OVERSIGHT IJNIT)
NOlES TO THE FINANCIAL STATEMENTS
JUNE3Q 1999

EXHIBIT "0"

NOTE l' SUMMARY OF SIGNIFICANT ACCOUNTING PooCIES
FUND ACCOUNTING Within each fund group, the Administrative Central Office's fund balance allocations and designations represent those portions ofthe fundbalances that are reserved,restrictedand/or designated for specific future use by legal covenants, State policies, or institutional policies.
Fund groups and funds presented in the accompanying financial statements are as follows:
CURRENT FUNDS
UNRESTRICTED- The fund used to account for those economicresourcesover which the Administrative Central Office retains full control to use for purposes ofperforming its primary functions.
RESTRICTED - The fund used to record externally restricted funds which may only be utilized in accordance with the purposes established by their source. Restricted current funds are recorded as revenues and expenditures when expended for current operating purposes.
ENDOWMENT AND SIMILAR FUNDS
The fund used to account for endowmentfunds and quasi-endowment funds. Endowment funds are subject to the restrictions ofgift instrumentsrequiringthat the principalbe invested in perpetuity and income only be utilized. While quasi-endowment funds have been established by the Administrative Central Office for the same purposes as endowment funds, any portion of quasi-endowment funds may be expended. Restricted quasi-endowment funds may be expended only for the purposes established by the source of such funds.
PLANT FUNDS
UNEXPENDED - The fund used to account for financial resources utilized to acquire or to construct physical properties for institutional purposes.
INVESlMENT IN PLANT - The fund which showsthe total amounts representing the book value of all physical properties owned by the Administrative Central Office. Net Investment in Plant is an equity account showing the total book value of physicalpropertiesbelongingto the AdministrativeCentral Office less the amount of any indebtedness to others.
AGENCY FUNDS
The fund used to account for resources held by the Administrative Central Office as custodian or fiscal agent for individuals and organizations.

-9-

BOARDOF REGENTS OF THEUNIVERsny SYSTEM OF GEORGIA ADMINISTRATIVE CENTRAL OFFICE <oVERSIGHT UNlD
NOTES TO THE FINANCIAL STATEMENTS
JUNE3Q 1999

EXlllBIT "D"

NOIE 1; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING Except as otherwise disclosed in these notes, the financial statements are prepared on themodified accrual basis of accounting,which is materiallythe same as the accrual basis ofaccountingapplicableto collegesand universitiesprescribedin the AmericanInstituteof CertifiedPublic Accountants'audit guide reportingmodel. The modified accrual basis of accountingis definedas that methodofaccountingin which expenditures,other than accrued interest on general long-termdebt, are recordedat the time liabilities are incurred and revenues are recorded when available and measurable to finance expenditures of the fiscal period.
Contractualobligationsfor goods and serviceswhich have not been received at the end of the fiscal year are recognizedas expendituresand liabilitiesin the accompanying financialstatements. This accountingpractice causes expenditure-driven grant revenuesto be accruedbased, in part, on the unexecutedportion ofcontracts for goods and services. The recognitionof encumbrances as expenditures and liabilitiesis in conformitywith accounting practices prescribed or permitted by statutes and regulations of the State of Georgia, but is not consistentwith generally accepted accounting principles, which provide for the recording of encumbrances as a reservation of fund balance. Further,revenuerecognitionfor expenditure-driven grants should be based upon expenditures determined in accordancewith generallyaccepted accounting principles.
Compensatedabsencesrepresentobligationsof the Administrative CentralOfficerelatingto employees'rights to receive compensation for future absences based upon services already rendered. This obligation relates only to vesting accumulatedannual leavein which paymentis probableand can be reasonablyestimated. The compensated absences liability of$I,303,437.57 and a related net current year expenditure of$259,201.46 have not been reported in the current funds as required by generallyaccepted accounting principles.
Prior period adjustments and certain other items are reported as additions to and deductions from fund balancesofcurrent funds in the accompanying financialstatements. This presentation is in accordance with accounting practices prescribed or permitted by statutes and regulationsof the State ofGeorgia, but differs from generallyaccepted accounting principles in that immaterial adjustments should be reported as current period revenues and expenditures. The effect of this departure is deemed to be immaterial to the fair presentation of the financial statements.
To the extent that Current Funds and Plant Funds are used to finance plant assets, the amounts so provided are accounted for as expenditures. The balances shown on the Combined Balance Sheet as Net Investment in Plant reflect the accumulatedexpendituresmade for plant facilities through CurrentFunds and Plant Funds and also include expenditures made for plant facilities expended by the Georgia State Financing and InvestmentCommissionon behalf of the Administrative Central Office. Donated fixed assets are recorded at fair market value on the date donated. Disposalsare deletedat recordedvalues. No depreciation has been provided on physical plant and equipment.

-10 -

BOARD OF REGENTS OF THE UNIVERSDY SYSTEM OF GEORGIA
ADMINISTRATIyE CENTRALOFFICE(OVERSIGHT UNID
NOlES TO THE FINANCIAL STATEMENTS nJNE3Q 1999

EXlDBIT"D"

NOTE l' SUMMARY OF SIGNIFICANT ACCilllNTING PQUCIES

BASIS OF ACCOUNTING The Statement of Current Funds Revenues, Expenditures, and Other Changes is a statement of financial activities of current funds related to the current reporting period. It does not purport to present the results of operations or the net income or loss for the period as would a statement ofincome or a statement ofrevenues and expenses.

BUDGET The Board of Regents of the University System of Georgia - Administrative Central Office receives State appropriation allotments for units ofthe University System of Georgia. The appropriated budget is adopted at the Board level and represents appropriations provided by the Amended Appropriations Act of 1998-1999. The appropriated budget covers current funds and plant funds, except for Auxiliary Enterprises and Student Activities which are not subject to appropriation. The allocation of the appropriated budget is made to the various organizational units by the Administrative Central Office. In addition, the organizational units receive Federal funds and other funds directly and include these funds in the budget filed with the Administrative Central Office.

A comparison of anticipated funds available and budgeted expenditures by budget unit object class indicates that the following object classes were overspent by the amounts identified below:

"A" Resident Instruction Research Consortium
"B" Regents Central Office and Other Organized Activities Operating Expenses: Sponsored Operations Capital Outlay
"D" Lottery for Education Special Funding Initiative

s 35.277.83
s 170 661.72
$12833 144 55
s 1041.34

These overexpenditures of budget constitute a violation of Board of Regents policy, but do not constitute statutory violations of budget authority. Statutory violations ofbudget authority are reported at the Board object class level.

CASH AND CASH EQUIVALENTS Cash and Cash Equivalents consist of demand deposits, certificates of deposit and temporary investments in authorized financial institutions, and cash management pools that have thegeneral characteristics of demand
deposit accounts.

INVESTMENTS Investments are reported at fair value. Funds received by the Administrative Central Office as endowments or for restricted purposes are invested according to conditions stipulated by the donor, grantor, or in

-11-

BOARDOFREGENTS OF1HEUNIVERSITY SYSTEM OFGEORGIA
ADMINISTRAINE CENTRAL omcE <oVERSIGHT UNID
NOTES TO1HEFINANCIAL STATEMENTS
1UNE3Q 1999

EXHIBIT"D"

NOTE l' SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
INVESTMENTS accordance with the Board ofRegents authorizing resolutions. Gains and losses on investment transactions are accounted for in the funds where such assets are recorded.
Investments in the various investment pools maintained by the Administrative Central Office consist, in part, ofrepurchase agreements and certain U. S. Government Securities which include mortgage-backed securities such as collateralized mortgage obligations and adjustable rate mortgages. These mortgage-backed securities are reported as U. S. Government Securities in the disclosure note of custodial credit risk. (See Note 2 on Categorization ofInvestments) Investments in the investment pools are transacted by an extemal investment firm under direction ofan investment advisory agreement executed between the Administrative Central Office and the investment management firm. As of June 30, 1999, the Administrative Central Office had $3,739,780.99 invested in U. S. Agency mortgage-backed securities.
ACCOUNTS RECEIVABLE Accounts receivable consist of allotments due from the Office of Treasury and Fiscal Services and other receivables disclosed from information available.
INVENTORIES No inventories of supplies are reported in these financial statements. Expendable supplies are recorded as expenditures at the time ofpurchase.
MEMORANDUM ONLY - TOTAL COLUMNS The total columns on the financial statements are captioned "Memorandum Only" because they do not represent consolidated financial information and are presented only to facilitate financial analysis. The columns do not present information that reflects financial position or changes in financial position in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation ofthis data.
NOTE 2' CUSTODIAL CREDIT RISKS OF CASH DEPOSITS AND INVESTMENTS
STATE OF GEORGIA COLLATERALIZATION STATUTES AND POLICmS Funds belonging to the State of Georgia cannot be placed in a depository paying interest longer than ten days without the depository providing a surety bond to the State. In lieu of a surety bond, the depository may pledge as collateral anyone or more ofthe following securities as enumerated in the Official Code of Georgia Annotated Section 50-17-59:
(1) Bonds, bills, certificates of indebtedness, notes, or other direct obligations of the United States or of the State of Georgia.
(2) Bonds, bills, certificates of indebtedness, notes, or other obligations of the counties or municipalities of the State of Georgia.
- 12-

BOARD OF REGENTS OF THE UNIVERSITY SYSTEM OF GEORGIA ADMINISTRATIVE CENTRAL OFFICE <oyERSIGHT UNID NOTES TO THE FINANCIAL STATEMENTS ruNE3Q 1999

EXHIBIT ''0''

NOTE 2 CUSTODIAL CREDIT RISKS OF CASH DEPOSITS AND INVESTMENTS
STATE OF GEORGIA COLLATERALIZATION STATUTES AND POLICIES (3) Bonds of any public authority created by the laws ofthe State ofGeorgia, providing that the statute that created the authority authorized the use of the bonds for this purpose.
(4) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia.
(5) Bonds, bills, certificates of indebtedness, notes, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest, or debt obligations issued by the Federal Land Bank, the Federal Horne 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.
(6) Guarantee or insurance of accounts provided by the Federal Deposit Insurance Corporation.
As authorized in the Official Code of Georgia Annotated Section 50-17-53, the State Depository Board has adopted policies which allow agencies ofthe State ofGeorgia the option of exempting demand deposits from the collateral requirements.
The treasurer of the Board of Regents is responsible for all details relative to furnishing the required depository protection for all units ofthe University System of Georgia.
CATEGORIZATION OF DEPOSITS For purposes of analysis of custodial credit risk, cash deposits consist of all bank balances which include demand deposits and/or interest bearing accounts. The bank balances as of June 30, 1999, are categorized below in order to provide information about the extent to which such deposits are exposed to custodial credit risk:
Category 1 - Amounts covered by depository insurance or collateralized with securities (at fair value) held by the Administrative Central Office or by its agent in the Administrative Central Office's name.
Category 2 - Amounts collateralized with securities (at fair value) held by the pledging financial institution's trust department or agent in the Administrative Central Office's name.
Category 3 - Amounts collateralized with securities (at fair value) held by the pledging financial institution, or by its trust department or agent but not in the Administrative Central Office's name, and amounts uncollateralized.

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BOARD OFREGENTS OFTIlEUNlVERSDY SysTEMOFGEORGIA
ADMINISlRATIVE CENTRAL OFFICE coyERSIGHT IJNID
NOTES TOTIlEFINANCIAL STAlEMENTS
1UNE30 1999

EXHlBIT"D"

NOTE 2' CUSTODIAL CREDIT RISKS OF CASH DEPOSITS AND INVESTMENTS

CATEGORIZATION OF DEPOSITS

Cash Deposits Investment Portfolio Accounts
Total CashDeposits

Carrying
Amount

Bank
Balances

Risk Categories
2

s 6,780,793.14 3,582,402.72 s

0.00 s

764741854 764741854 764741854

0.00 s 3,582,402.72

000

000

s s s 14428211.68 $11229821 26 764741854

s 0.00 3582492.72

CATEGORIZATION OF INVESTMENTS Investments are summarized and classified as to custodial credit risk within the three categories described below:

Category 1 - Insured or registered, or securities held by the Administrative Central Office or its agent in the Administrative Central Office's name.

Category 2 - Uninsured and unregistered, with securities held by the counterparty's trust department or agent in the Administrative Central Office's name.

Category 3 - Uninsured and unregistered, with securities held by the counterparty, or by its trust department or agent but not in the Administrative Central Office's name.

The carrying amounts of investment balances as of June 30, 1999, are categorized below:

Type oflnyestment

Common Stock

s

CorporateBonds

RepurchaseAgreements

U. S. GovernmentSecurities

Total Investments

s

Risk Categories
2
s 0.00 $ 41,155,248.67
9,342,401.90 19,191,000.00 5051979996
s O:.:.0:lol0 $12020845053

Carrying

3

Amount

s 0.00 41,155,248.67
9,342,401.90 19,191,000.00 5051979996

0"l0ll'0 $12020845053

-14-

BOARD OFREGENTS OFlHE UNIVERSITY SYSTEM OFGEORGIA
ADMINISTRATIVE CENTRAL OFFICE fO\fER.SlGHT UNIT> NOIESTO lHE FlNANCIAL STATEMENTS
JUNE 30 1999

EXlDBIT"D"

NOTE 2' CUSTODIAL CREDIT RISKS OF CASH DEPOSITS AND INVESTMENTS

CATEGORIZATION OF INVESTMENTS Governmental Accounting Standards Board Statement No. 31 requires a separate risk categorization of investmentsof an external investment pool when a separate report is not issued for the external investment pool. The followingis a separaterisk categorizationof the pooled investmentsofthe AdministrativeCentral Office's "mixed" extemal investment pool, as of June 30, 1999. These amounts are included in the categorization of investments on the previous page.

Type ofJnyes1ment
Common Stock Corporate Bonds Repurchase Agreements U. S. Government Securities
TotalInvestments

RiskCate~ries

2

3

Carrying Amount

s

s 0.00 $ 41,155,248.67

s 0.00 41,155,248.67

9,342,401.90

9,342,401.90

19,191,000.00

19,191,000.00

3631174746

363\l 747 46

s_ _ s_ _ ....ll0oll!0~O $106.00039803

...li0:.l!0!0 $106000 398 03

NOTE 3: EXTERNAL INVESTMENT POOL

The AdministrativeCentralOffice servesas fiscalagentfor variousunits ofthe UniversitySystemofGeorgia and cooperative organizations. The AdministrativeCentral Office pools the monies of these organizations with the AdministrativeCentralOffice'smonies for investmentpurposes. The AdministrativeCentral Office cannot allocate pool investments between the intemal (University System) and extemal (cooperative organizations)investmentpool portions. The investmentpool is not registeredwith the SEC as an investment company. Thefair value ofinvestmentsis determineddaily. Thepool does not issue shares. Each participant is allocated a pro rata share ofeach investment at fair value along with a pro rata share of the interest that it earns. Condensed financial information for the investmentpool follows:

-15 -

BOARD OF REGENTSOF mE UNIVERSTIYSYSTEMOF GEORGIA ADMINISTRATIVE CENTRALOFFICE<OVERSIGHT UNID NOTES m mE FINANCIALSTATEMENTS
WNE3Q 1999

EXHIBIT"D"

NOTE 3' EXTERNAL INVESTMENT POOL Statement ofNe! Assets - June 30 1999

Cash Investments Interest Receivable

s 5,570,824.24 106,000,398.03 72829046

Net Assets Held in Trust for Pool Participants
Internal Portion External Portion

$112:299512.73
s 21,623,509.99 9067600274

$112299.51273
Statement of Changes in Net Assets - Year Ended June 30 1999

Revenues
Interest Income
NetDecreasemFmVw~ofIn~stmen~
Total Revenues
Expenses

s 3,713,266.39 -80345896
s 2,909,807.43

Operating Expenses Administrative Expenses
Net Increase in Assets Resulting from Operations
Distribution to Participants Capital Transactions
Total Increase in Net Assets

358262.26
s .2,551,545.17
-21,473,131.59 31 613.844 52
s 12,692,258.10

Net Assets July 1, 1998

99.607 254 63

Net Assets June 30, 1999

$11229951273

-16-

BOARD OFREGENTS OF THE UNIVERSITY SYSTEM OFGEORGIA ADMINlSTRATNE CENTRAL OFFICE (OVERSIGHT UNIU NOTES TO THE FINANCIAL STATEMENTS
1UNE30 1999

EXHIBIT"D"

NOTE 4' INVESTMENT IN PLANT

The following is a summary of Investment in Plant fixed assets as of June 30, 1999:

Land Equipment Library Books and Collections Construction in Progress
Total Investment in Plant

$ 2,501,877.00 24,786,784.80 31,384.30 168512.86042
$195832,906.52

NOTE 5' opERATING LEASES

The Administrative Central Office has entered into certain computer software license agreements and agreements to lease real property which are classified as operating leases (leases on assets not recorded on the balance sheet). These leases generally contain provisions that, at the expiration date of the original term of the lease, the Administrative Central Office hasthe option of renewing the lease on a year-to-year basis. Future minimum lease payments for operating leases as of June 30, 1999, are listed below, Amounts are included only for multi-year leases and for cancellable leases for which an option to renew for the subsequent fiscal year hasbeen exercised.

Fiscal Year Endjui June 30

2000

$ 2 869,699 50

Expenditures for computer software license agreements and agreements to lease real property under operating leases for the year ended June 30, 1999, totaled $1,261,800.50.
NOTE 6: CAPITAL LEASES

The Administrative Central Office acqnires certain equipment through multi-year capital leases with varying terms and options. These agreements contain fiscal funding clauses in accordance with Official Code of Georgia Annotated Section 50-5-64 which prohibits the creation of a debt to the State of Georgia for the payment of any sums under such agreements beyond the fiscal year of execution if appropriated funds are not available. If renewal of such agreements is reasonably assured, however, capital leases requiring appropriation by the General Assembly of Georgia are considered noncancellable for financial reporting purposes.

As of June 30, 1999, future minimum leasepayments under capital leases are as follows:

- 17-

BOARD OF REGENTS OF TIffi UNIVERSITY SYSTEM OF GEORGIA ADMIN1STRATNE CENTRAL OFFICE (OVERSIGHT UNIT>
NOlES TO TIIE FINANOAI. STATEMENTS JUNE3Q 1999

EXHIBIT"D"

NOTE 6' CAPITAL LEASES

Fiscal Year Endinlj June 30

2000 2001 2002
Total Future Minimum Lease Payments

$ 1,179,553.62 1,180,591.13 178,16391
s 2,538,308.66

Less: Amounts Representing Interest Present Value of Future Minimum Lease Payments

18007800
s 2358230.66

NOTE 7' DEFICIT BJND BALANCE

The Lottery for Education Fund and the Employee Health Benefits Plan Fund, which are a part ofUnrestricted Cutrent Funds, have deficit fund balances of$I,040,91 and $3,307,290.86, respectively, which are not readily apparent from the financial statements.

NOTE 8' RISK MANAGEMENT

The Board of Regents of the University System of Georgia maintains a self-insured program of health and dental benefits for its employees and retirees. This plan is funded jointly through premiums paid by participants covered under the plan and employer contributions paid by the Board of Regents and its organizational units. All units of the University System of Georgia share the risk ofloss for claims of the
Employee Health Benefits Plan. Participants are covered up to a maximum lifetime benefit of $1,000,000.00 per person and dental coverage up to an annual maximum of$I,Ooo'OO per person.

The Board ofRegents has contracted with Blue Cross - Blue Shield to process all claims in accordance with medical coverage guidelines as established by the Board of Regents. All claims submitted by program participants are remitted directly to Blue Cross - Blue Shield from the various organizational units for verification ofcoverage, processing, and payment through a bank account maintained for this purpose by Blue Cross - Blue Shield. Blue Cross - Blue Shield maintains an eligibility file based on information furnished by the various organizational units of the University System of Georgia.

A reconciliation oftotal estimated claims liabilities for the fiscal year ended June 30, 1999, is shown below:

- 18-

BOARD OFREGENTS OFTHElJNNERSlTYSYSTEM OFGEORGIA ADMINISTRATIVE CENTRAL OffICECO\TERSIGHT 1!NIT) NOTES TOTHEFINANCIAL STATEMENTS R!NE3Q 1999

EXHIBIT"D"

NOIE 8' RISK MANAGEMENT

Unpaid Claims and Claim Adjustments July 1,1998

s 21,800,000.00

Incurred Claims and Claim Adjustments Expenses - Provisions for InsuredEvents of the Current Year

159,756,073.13

Payments - Claims and Claim Adjustments Attributable to InsuredEvents of the Current Year and of Prior Years

156256073 13

Unpaid Claims and Claim Adjustments June 30, 1999

s 25 300.000 00

The DepartmentofAdministrative Services(DOAS)has the responsibility for the State of Georgiaof making and carrying out decisions that will minimize the adverse effects of accidental losses that involve State governmentassets. The Statebelievesit is more economical to manageits risksinternallyand set aside assets for claim settlement. Accordingly,DOAS processes claims for risk of loss to which the State is exposed, includinggeneralliability,propertyand casualty, workers'compensation, unemploymentcompensation,and law enforcement officers' indenmification. Limited amounts of commercial insurance are purchased applicableto property,employeeand automobile liability, fidelityand certainotherrisks. The Administrative CentralOffice, as an organizational unit of the Boardof Regentsof the UniversitySystemof Georgia, is part of the State of Georgia reporting entity, and as such, is covered by the State of Georgia risk management programadministeredby DOAS. Premiumsfor therisk management programare chargedto the various state organizations by DOAS to provide claims servicingand claims payment.

A self-insured program of professional liability for its employeeswas establishedby the Board of Regents of the University System of Georgia under powers authorizedby the Official Code of Georgia Aunotated Section 45-9-1. The program insures the employeesto the extent that they are not immune from liability againstpersonal liabilityfor damages arisingout of the performanceof their duties or in any way connected therewith. The program is administeredby DOAS as a Self-Insurance Fund.

NOTE 9' RETIREMENTPLANS

TEACHERS RETIREMENT SYSTEM OF GEORGIA

Plan Description The Administrative CentralOfficeparticipates in the TeachersRetirementSystem of Georgia (TRS), a costsharingmultiple-employer definedbenefitpensionplan establishedby the GeneralAssembly of Georgia for the purposeof providingretirementallowances and otherbenefits for teachersof the State of Georgia. TRS

- 19-

BOARD OF REGENTS OF THE UNIVERSITY SYSTEM OF GEORGIA
ADMINISTRATIVE CENTRAL OFFICE (OVERSIGHT UNID
NOTES TO THE FINANCIAL STATEMENTS TI!NE3Q 1999

EXHIBIT"D"

NOTE 9' RETIREMENT PLANS

TEACHERS RETIREMENT SYSTEM OF GEORGIA

Plan Description provides service retirement, disability retirement, and survivor's benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts.

Funding Policy Employees of the Administrative Central Office who are covered by TRS are required by State statute to contribute 5% oftheir gross earnings to TRS. The Administrative Central Office 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. For fiscal year 1999, the employer contribution rate was 11.95% for covered employees. In addition, the Administrative Central Office contributed 3.46% to the TRS on behalf of employees electing to participate in the Regents Retirement Plan. Employer contributions for the current fiscal year and the preceding two fiscal years are as follows:

Fiscal Year

Percentage Contributed

Required Contribution

1999 1998 1997

100% 100% 100%

$ 1,101,433.18 $ 923,018.72 $ 800,125.86

REGENTS RETIREMENT PLAN

Plan Description The Regents Retirement Plan, a single-employer defined contribution plan, is an optional retirement plan established and administered by the Board of Regents of the University System of Georgia, under which it may purchase annuity contracts for the purpose ofproviding retirement and death benefits for eligible faculty and principal administrators. Benefits depend solely on amounts contributed to the plan plus investment earnings. Benefits are payable to participating employees or their beneficiaries in accordance with the terms of the annuity contracts.

Funding Policy Member contribution requirements are established by the Board of Trustees of the Teachers Retirement System. Employer contributions are established by statute and may be amended only by the General Assembly of the State of Georgia. The employer contributes 8.34% ofthe participating employee's earnable compensation. Employees contribute 5% oftheir earnable compensation. Amounts attributable to all plan contributions are fully vested and non-forfeitable at all times.

- 20-

BOARD OF REGENTS OFTHEUNIVERSITY SYSTEM OFGEORGIA ADMINISTRATIVE CENTRAL OFFICE (OVERSIGHT UNID NOTES TO THEFINANCIAL STATEMENTS U!NE3Q 1999

EXHIBIT"D"

NOTE 9' RETIREMENT PLANS
REGENTS RETIREMENT PLAN
Funding Policy The AdministrativeCentralOfficeand the coveredemployeesmadethe requiredcontributionsof$156,558.79 (8.34%) and $93,860.36 (5%), respectively.
NOTE ) O' LEAVE POLICIES
Employeeseam annualleaverangingfromone and one-quarterdaysto one and three-quarterdays eachmonth dependingupon the employees'length of continuousState servicewith maximum accumulationof forty-five days. Employees are paid for unused accumulated annual leave upon retirement or termination of employment. See Note 1 - Basis of Accounting (Compensated Absences)
Employees earn one day of sick leave each month with no maximum accumulation established. Unused accumulated sick leave does not vest with the employeeand is forfeited upon retirement or termination of employment, except as noted in the subsequentparagraph.
Certain employeeswho retire with a minimumof three monthsof unusedsick leave are entitledto additional service credit in the Teachers Retirement System of Georgia.
NOTE 11' CONTINGENCIES
Amountsreceivedor receivablefromgrantoragenciesare subjectto andit and adjustmentby grantoragencies. This could result in refunds to the grantor agency for any expenditures which are disallowed under grant terms. The amount ofexpenditureswhich maybe disallowedby the grantorcannotbe determinedat this time althoughthe Board ofRegents expects such amounts,ifany,to be immaterialto its overall financialposition.
Litigation,claims and assessmentsfiled against the AdministrativeCentral Office (an organizational unit of the Board of Regents of the University System of Georgia), if any, are generally considered to be actions against the State ofGeorgia Accordingly, significantlitigation,claims and assessments pending against the State of Georgiaaredisclosedin the State of GeorgiaComprehensive Annual Financial Report for the fiscal year ended June 30, 1999.
NOTE 12 POSTEMPWYMENT BENEFITSOTHER THAN PENSION BENEFITS
Pursuant to the general powers conferred by the Official Code of Georgia Annotated Section 20-3-31, the Board of Regents of the University System of Georgia has established group health and life insurance programs for regular employeesofthe UniversitySystemof Georgia It is the policyofthe Board of Regents to permit employeesofthe UniversitySystemof Georgiaeligiblefor retirement or that become permanently and totallydisabledto continueas membersof the grouphealth and life insuranceprograms. Employeeswho are eligible for retirement or disability under the criteria established by the Teachers Retirement System of
21 -

BOARD OF REGENTS OF THE IJNIyERSIlY SYSTEM OF GEORGIA ADMINISTRATIVE CENTRAL OffICE <oyERSIGHTUNlD NOTES TO THE FINANCIAL STATEMENTS
JUNE30 1999

EXHIBIT "0"

NOIE 12' POSIEMPW)'MENT BENEFITS OTHER THAN PENSION BENEFITS
Georgia and who have at least ten years of service with the University System ofGeorgia are eligible for these postemployment health and life insurance benefits. Organizational units of the Board of Regents of the University System of Georgia pay the employer portion for group insurance for affected individuals.
As of June 30, 1999, there were 21 employees who hadretired or were disabled that were receiving these postemployment health and life insurance benefits. For the year ended June 30, 1999, the Administrative Central Office recognized as incurred $90,924.58 ofexpenditures, which was net of$38,236.59 ofparticipant contributions.
NOTE 13' STAIE MEDICAL EDUCATION BOARD
The State Medical Education Board, which is administratively attached to the Administrative Central Office of the Board ofRegents ofthe University System of Georgia, provides service cancellable loans/scholarships to eligible students who are residents of the State of Georgia and pursuing a degree in medicine. After becoming licensed physicians, recipients earn service credits by practicing their profession in a State Medical Education Board approved community. Recipients in violation of the loan/scholarship agreement are
immediately liable for all funds advanced plus interest at the minimum rate of 12% per annum. At June 30, 1999, the balance ofloans/scholarships outstanding was $5,980,837.67. Thisbalance is not reflected in these
financial statements.
The State Medical Education Board also administers the "Physicians forRural Areas Assistance Program". Under this program, the Board provides service cancellable loans to physicians licensed to practice in the State of Georgia Service credits are earned by physicians practicing in undeserved rural areas of Georgia Recipients in violation of the loan agreement are immediately liable for twice the uncredited loan amount. At June 30, 1999, the balance ofloans outstanding was $305,535.00. This balance is not reflected in these financial statements.
NOTE 14: SIGNIFICANT TRANSACTIONS
GEORGIA CENTER FOR ADVANCED TELECOMMUNICATIONS TECHNOLOGY (GCATT) The Board of Regents of the University System of Georgia is administratively responsible for the GCAII construction project located on the Georgia Institute of Technology campus. The Unexpended Plant Fund expenditures (net) to date totaling $32,710,804.00, which include $438,779.49 of current year expenditures, are capitalized as Construction in Progress in the Investment in Plant Fund of the Administrative Central Office. The Administrative Central Office will continue to record all expenditures related to this project as Construction in Progress. Upon completion, the Administrative Central Office will transfer the appropriate balance of the Construction in Progress account to Georgia Institute of Technology to be recorded in the Institute's Investment in Plant account.

- 22-

BOARDOFREGENTS OFTHE UNIVERSTIY SYSTEM OFGEORGIA ADMlNISTRATJYE CENTRAL OFFICE <OVERSIGHT UNlD NOTES TO THE EINANOAL STATEMENTS
nJNE3Q 1999

EXHIBIT"D"

NOTE 14' SIGNIFICANT TRANSACTIONS
ALBANY STATE UNIVERSITY The Board ofRegents of the University System of Georgia - Administrative Central Office is recording the cost ofrepairs and reconstroction due to extensive flood damage to the Albany State University's campus in 1994 and 1998. These expenditures are included in the Unexpended Plant Fund and capital expenditures are recorded as Construction in Progress in the Investment in Plant Fund of the Administrative Central Office. The Administrative Central Office will continue to record all capital expenditures related to this project as Construction in Progress. Upon project completion, the Administrative Central Office will transfer the appropriate balance of the Constroction in Progress account to Albany State University to be recorded in the University's Investment in Plant account. The expenditures to date on this project are $140,608,345.31 and include $12,394,365.06 of current year expenditures which were capitalized as Construction in Progress. These expenditures are funded by insurance recoveries, Federal and State grants, and State lottery appropriations.

-23 -

SUPPLEMENTARY INFORMATION
-25 -

BOARD OF REGENTS OF THE UNIVEBsrrv sysTEM OF GEORGIA
ADMINISTRATiVECENTRALOFFICE CO\IEBSIGHT UNm COMBINING BALANCE SHEET
CURRENTFUNQS UNBESTBICTEQ JUNE30 1999

EXHIBIT"E"

~ Cashand Cash Equl_nls Il1'IIlstments Accounts Receivable Duefrom Other Fund Groups
Total Assets

"A" RESIDENT INSTRUCTION

"B" REGENTS CENTRAL
OFFICE AND OTHERORGANIZED
ACTIVITIES

.0-
LOTTERY FOR EDUCATION

EMPLOYEE HEALTH BENEFITS PLAN

TOTAL

$ 40,035,181.20 $

573,891.65

549,673.93 107,902.00

4,027,327.75 15,556,356.34
2,409,025.05

4,577,001.68 15,556,356.34 40,718,974.85
2,409,025.05

$ 40,035.181.20 $

573,891.85 $ 857.575.93

21.992.709.14

83.259.357.92

L!AB1LmesAND FUNp BALANCES
Liabilities AccountsPayabla Allotments Dueto OtherUnits Employee Health Benefits Claims Due to OtherFundGroups
TotalLiabilities
FundBalances U....strk:led

6,503,894.49 28,852,008.00 2,394.304.71 37,550,207.20
2,484.974.00

Total Uabilitiesand FundBalancas

$ 40,035.181.20 $

520,357.21 14.720.34
535,077.55 38,814.10

858,616.84 858,818.84

25,300,000.00 25,300,000.00

7,682,868.54 28,652,008.00 25,300,000.00
2.409,025.05
84,043,901.59

-1,040.91

-3,307,290.86

-784,543.67

573.891.65

857,575.93 $ 21,992,709.14 $ 63,259,357.92

sao accompanying notes and Indapandant Accounlant's COmbinad Raport
onReview ofFinancial Statements andSupptementary Information.

-26-

B9ARQ OF REGENTS OF !He UNI\IEBSITY SYSTEM OF GEORGIA
AQMINISTBATI\fE ceNTBAb OFFIce toyERSlGHT UNiTl COMBINING STATEMeNT OF QiANGeS IN BlNP BAlANCES
CURRENT BlNQS - UNRESTRICTED
YEAR eNIJEQ .NNe 30 ' .

EXHIBIT"P

RE\lENUES AND OTHeR ADQITIONS

Unresb1cl8d CWrentFundRevenues ....jus1me ...
Prior Years' Expendlturosl........- Payable Remittance of Uncommitted Regents ScholarshiPs
fromUnitsof the lJnIverstty System of Georgia Remittance of Uncommttted Regents
OpportunityGra"'lrom Unitsof the UniversitySystemof GeorgIa Remlttanc::e of Surplus fromUnitsofthe Unl....1tySystemof GOOlllIa
Year Ended June 30. 1998

TotalRevenues and OtherAdditions

EXPeNDITURES AND OTHER QE[)UC!IONS

Educationaland GeneralExpenditures
....Justments

PriorYears'Revenues/Accounts Receivable

U. . ._

FundBalance (Sulplus)

Retumed to the Officeof Treasury and Fiscal

ServIces

VearEnded June 30, 1998

Total Expenditures and Other Dadudlona

TRANSFeRS BeTWeeN fUNps
Ma_ Resb1ct8d QU8S~CMm811t FundsAllocated e-Approprlationl forR_ auas~ndowmenlFund

TotalTransfers BetweenFunds

NelIIlCnlll58l(Deallese) for the Y_

BIND BAlANCES JULY' 1998

.....
RESIDENT INSTRUCTION

"9" REGENTS CENTRAL
OFACEAND OTHERORGANIZED
...CTlVITIES

'0' LOTTERYFOR
EDUCATION

EMPLOYEE HEALTH BENEATS PLAN

TOTAL

56.055,717.08 $ 39,937.66
1.594.287.05 57,989,941.79 S

28,590,295.16 S 8,470.000.00 $ 146,467,814.83 S 239,583,827.07

12,155.23

23,448.91

75,541.80

8,406,00

8,406.00

24,286.08

24,286,08

297,842.98

145.313.43

2.037.443.16

28,932,985.15 S 8,615,313.43 S 146,491,263.74 S 241.729.504.11

52.162,857.55 S 21,969.02

28,583,636.29 $ 8,471,040.91 S 168,582,452.55 S 255,759,987.30
21,969.02

1,636,202.30 53,821,028.87 S

387,793.77

146.808.01

2.170.802.08

26,951,430.06 $ 8.617,846.92 $ 198,562.452.55 S 257,962,758.40

785,277.83
~,ooo,ODO.oo
-2.214,722 . 17
1,854,190.75 $ 830.783.25

'8.444.91 57.259.01

-2,58349 $ -20,071,188.81

1.492.58

16.763.897.95

785,277.83 003.000,000.00 -2.214.722.17 18,437.978.46 17.653.432.79

BJND BALANCES JUNe 3Q 1999

2.484.974.00 S

38.814.10 S

-1,040.91

r.3:307.292-86 $

784,543.67

1_ See ec:oompenylng ...... and Independent A<:counalt'. CombinedReport

S _ on RevtewofFI_

and Supplementary

-27-

BOARDOF REGENTS Of Tl1EUNtVEBSJI'(SYSTEMOF GEORGIA
AQMINISTBADVE CENTRAL OFFICE (OVERSIGHT UNm
COMBINING STATEMENT OF CURRENT FUNDS ReveNues eftNpIDJReS
AND OTHeRCHANGES
UNReSTRICTEp
\'EAR eNDeD JUNe 30 1999

EXHIBIT"G"

BEllEtlW
-Approprlallons OtherSoun:ea
TotalReverues
EXPENDmJReS AND MANpATOBY TRANSFeRS
Educational and General PublicServIce InstilutlonalSupport OperationandMalrtenanceof Plant SchoIaraNps and Fellowships MandatoryTransfersfor: ReatrIcted QuasI.Endowmenl: FundaAlIocaIed State Appropriations for Reatrk:ted Quasl-Endowment Fund
TotaI~... andMandatoryT..-..
OTHER TRANSfeRS AND AQDmONS/(OEQUCIlONSl
_ , _ _ <NOI)
Bemttlanceof U~ Regents Scholarships from Unitsof the University System of Georgia
Remittanceof UncomniUedRegents Opportunity Grantsfrom Unitsof the U_S,..."of_
Renittance of Surplus from Unitsof the U......1tyS""" of Geo!gIa Year EndedJune 30. 1998
Urnstrk:ted FundBalance(Surplus) BeIumed to Office ofTreaaury andFiIcaI Services YearEndedJune30. 1998

"A" RESIDENT INSTRUCTION

"9" REGENTS CENlRAL
OFFICEAND OTHER ORGANIZED
ACTJVITIES

"D" LOTTERY FOR
EDUCATION

EMPLOYEE HEALTH BENEFITS PlAN

TOTAL

40,307.739.30 15,747,977.78
56,055 717.08

27,972,936.00 617,359.16
28.590,295.16

8.470,000.00 8.470 000.00

146,467,814,83 146 487 814.83

78,750,875.30 162,8$3,161.77
239,583,827.07

$ 52,162,857.55
785,2n.83 3000,000.00

18,410,211.00 7,1506,514,00
841,381.29 2,005,550.00

8,471,040.91 $ 188,562,452.55

18,410,211.00 234,702,865.01
641,381.29 2,005,550.00

785,277.83

3.000.000.00

8A71 040.91 $ 166 562 452.55 $ 257,974.709.47

17,968.64 $ 1,694,287.05

12,155.23 8,406.00 24,288.08 297,642.68

145,313.43

23,448.91 $

53,572.78 8,406.00

24,286.08

2,037,443.16

-1 636 202.30

-387793.n

146.806,01

.2,170.802.08

..z3.948.81

..015,103.78

-1,492.58

23448.91 $

~7094.06

NOII_oecr-)1n Fund Balances

'''''00.75 $

..;1.8l,:4=4:4;.9:'1:'

=2,533.49 $ -20 071 188.81 $ -18437976.48

Soeen1_ICoCCflIFTlP_ 8f1Yl1lfl-_ and 1 n d8 a p an n l ld B r <~ _. .

.. C
I

om
_

bln
.

a

d

_

29

BOARD OF REGENTS OFTIlEllNIVERSIIYSYSTEM OF GEORGIA
ADMINISTRATIVE CENTRAL OFFICE <OVERSIGHT UNID
SCHEQ!JLE OFREQIDRED SJJPPI.EMENTARY INFORMATION
YEAR 2000DlSCLQSJ!RES
YEAR mmEp UJNE 30 1999

SCHEDULE "1"

The year 2000 issue is the result of shortcomings in many electronic data processing systems and other electronicequipmentthat may adverselyaffectthe Administrative CentralOffice'soperationsbeyondcalendar year 1999. The Administrative Central Office has identified computer systems and other electronic equipmentthat maybe affectedby the year2000 issue and are necessaryto conductingAdministrativeCentral Office operations. The followingstageshave been identifiedas necessaryto implementyear 2000 compliant systems.
Awareness Stage - Encompassesestablishinga budget and project plan for dealing with the year 2000 issue.
AssessmentStage - The actualprocessofidentifyingall systemsand individualcomponentsofsystems to check for compliance.
Remediation Stage - The time when changes are made to systems and equipment.
Validation/Testing Stage - The process of ensuring that the changes made to systems and equipment will produce a year 2000 comphant system.
It will be necessary for the Administrative Central Office to progress through all of these stages for each computerand/or electronicsystem, not alreadyyear 2000 compliant,in order to assurethat these systemswill not be adversely affected.
The Administrative Central Office hascompleted an inventory of computer systems and other electronic equipment that may be affected by the year 2000 issue and that are necessary to conduct operations. The following financial systems have been remediatedby the Board ofRegents, University System of Georgia.
The College and University Fund Accounting System has been remediated, validated and tested.
The RegentsBudgetReportingSystemand Property InventorySystemare beyondthe validation/testing stage and management considers them year 2000 compliant.
The Regents Payrol1/Persounel Systemhasbeen remediated,validated and tested.
The Wachovia ConnectionPC-ACH systemis year 2000 compliant. The systemis used for delivering state appropriations to institutions ofthe University System.
A new RMFSAP2 system,compliantwith year2000,has been developedto completelyreplace the old system for preparing/consolidating the monthlyfinancialreports. The final testinghasbeen completed. The system has been in use since the last quarter of fiscal year 1999.
Because of the unprecedentednature of the year 2000 issue,its effectsand the success of related remediation effortswill not be fully determinableuntil year 2000 and thereafter. While managementis confident that the Administrative Central Office will be year 2000 ready, it cannot assume that its remediation efforts will be successfulin whole or in part, or that partieswith whom the Administrative CentralOffice does businesswill be year 2000 ready.
See accompanyingnotes and Independent Accountant'sCombined Report on Review of Financial Statements and SupplementaryInformation.
-29-

BOARDOF REGENTS OF THE UNIVERSITY SysTEM OF GEORGIA ADMINISTRATIVE CENTRAL OFFICE/oVERSIGHTUNID
SCHEDULE OF REVENUES ANDEXPENDITURES COMPARED TO BUDGET A RESIDENT INSTRUCTION
YEAR ENDEDJUNE30 1999

SCHEDULEr

CURRENT FUNDS UNRESTRICTED

BUDGET

VARIANCEFAVORABLE (UNFAVORABLE)

State appropriations Other RevenuesRetained

$ 40,307,739.30 37,957,739.00 $

2,350,000.30

15,747,977.78 17,624,270.00

-1,876,292.22

$

56,055,717.08 $ 55,582,009.00 $ _ _~4=7=3,:70:8:.0.8

EXPENDITURES Personal Services:
Education,Generaland Departmental Services OperatingExpenses:
Education,Generaland Departmental serviess CapitalOutiay SpecialFundin9Initiative Research Consortium Year 2000 Project
Excessof Revenuesover Expendltu18S

$

6,991,551.07

7,073,110.00 $

81,558.93

24,331,723.66 10,480,903.00 6,891,561.99
785,277.83 2,681,820.00

26,315,011.00 10,480,903.00 7,125,238.00
750,000.00 3,837,747.00

1,983,287.34 0.00
233,856.01 -35,277.83 1,155,927.00

S

52,182,857.55 S 55,582,009.00 S

3,419,151.45

S

3:892,859.53

$

3,892,859.53

seeacoompanylng notesand IndependentAcoountanrsCombined Report
on Reviewof FinancialStatementsand Supplementary Information.
-31-

BOARDOF REGENTSOF THE UNIVERSITY SysTEM OF GEORGIA ADMINISTRATIVE CENTRAL OFFICE(OVERSIGHT UNm
SCHEDULE OF REVENUES AND EXPENDITURES COMPARED TO BUDGET "B" REGENTSCENTRALOFFICEAND OTHERORGANIZED ACTIVITIES
YEAR ENDEDJUNE30 1999

~ S_ Appropriations Other RevenuesRetained
EXPENDITURES PersonalServices:
Education,Generaland Departmental Services
OperatingExpenses: Education,Generaland Departmental Services SponsoredOperations
capital OuBay SREB Payments MedicalScholarships RegentsOpportunityGrants RegentsScholarships RentalPaymentsto GeorgiaMilitaryCollege DirectPaymentsto the Georgia PubUc
Telecommunications Commission for Operations
Excess of Revenuesover Expenditures

CURRENTFUNDS UNRESTRICTED RESTRICTED

$ 27,972,936.00 617,359.16 $

305,661.72

28,590,295.16 $ 305,661.72

$ 5,650,414.79

2,089,573.44 $
367,500.00 1,634,212.06
600,000.00 179,225.00 1,276,071.00

305,661.72

16,766,640.00

$ 28,563,636,29 $ 305,661.72

$

26,658.87 $

0.00

See accompanying notesand Independent AcoountanfsCombined Report on Reviewof FlnandaJ Statementsand Supplementary Information.
-32-

SCHEDULE "3"

PLANT FUNDS UNEXPENDED

TOTAL (Budget Basis)

BUDGET

VARIANCEFAVORABLE (UNFAVORABLE)

$ 7,520,786.65

27,972,936.00 $ 27,972,936.00 $

6,443,807.53

1,041,477.00

0.00 7,402,330.53

$ 7,520,766.65 $ 36,416,743.53 $ 29,014.413.00 $

7.402,330.53

$ 5,650.414.79 $ 5,688,781.00 $

38.366.21

$ 12,833,144.55

2,089,573.44 305,661.72
12,833,144.55 367,500.00
1,834,212.06 600,000.00 179,225.00
1,276,071.00

2,217,816.00 135,000.00 0.00 367,525.00
1,762,578.00 600,000.00 200,000.00
1,276.071.00

128,244.56 -170,661.72 -12,833,144.55
25.00 126,365.94
0.00 20,775.00
0.00

16,766,640.00

16,766,640.00

0.00

$ 12,833,144,55 $ 41,702,442.56 $ 29,014,413.00 $ -12,688,029.56

$ -5,312,357.90 $ 5,285.699.03

$ -5,265.699.03

-33-

BOARDOF REGENTS OF THE UNIVERSITY sysrEM OF GEORGIA ADMINISTRATIVE CENTRAL OFFICE(OVERSIGHT UNITl
SCHEDULE OF REVENUES AND EXPENDITURES COMPARED TO BUDGET "0" LOTTERY FOREDUCATION YEARENDED JUNE30 1999

SCHEDULE "4"

REVENUES State Appropriations

CURRENT FUNDS UNRESTRICTED

BUDGET

VARIANCEFAVORABLE (UNFAVORABLE)

$

8,470,000.00 $ 8,470,000.00 $

---=0:.:0;:0=.

EXPENDITURES GeorgiaPublicTelecommunications
Commission Intemet Connection Initiative Special FundingInitiative GeorgiaMilitaryCollege- Equipment
Excessof Revenuesover Expenditures

$

2,000,000.00 $ 2,000,000.00 $

2,218,999.57

2,219,000.00

4,052,041.34

4,051,000.00

200,000.00

200,000.00

$

8,471,040.91 $ 8,470,000.00 $

$==~-1.~ 040= .91

0.00 0.43 -1,041.34 0.00
--"1",;0.4;.0..;9;1.~

See accompanying notes and IndependentAccountanfsCombined Report on Reviewof FinancialStatementsand Supplementary Information.
-35-

BOARDOF REGENTS OF THE UNIVERSITY SYmM OF GEORGIA ADMINISTRATIVE CENTRALOFFICE/OIIERSIGHTUNITI SCHEDULE OF APPROVEDBUDGET "A" RESIDENT INSTRUCTION
YEAR ENpED JUNE30 1999
See accompanying notes and Independent Accountanfs Combined Report on Review of Rnancial S_menls and Supplementary Information.
-36-

SCHEDULE "5"

BUDGET ADJUSTMENTS

TOTAL APPROVED
BUDGET

LESS: BUDGET TRANSFERS TO OTHERUNITS

TOTAL

$

12,298,011.00

235,703,150.00

1,411,129,953.00 $ 1,696,994,589.00

1,373,172,214.00 $ 37,957,739.00

1,679,370,319.00

17,624,270.00

$

248,001,161.00 $ 3,108,124,542.00 $

3,052,542,533.00 $ 55,582,009.00

$

-30,206,048.00 $ 1,425,201,638.00 $

16,100,4n.00

231,831,524.00

-7,924,855.00 74,951,019.00 182,682,557.00
100,000.00 12,298,011.00

446,286,062.00 712,120,824.00 199,849,820.00
31,420,581.00 990,354.00 361,287.00
1,054,461.00 46,710,000.00 12,298,011.00

1,418,128,528.00 $ 231,831,524.00

7,073,110.00 0.00

419,971,051.00 712,120,824.00 189,368,917.00
24,295,343.00 990,354.00 361,267.00
1,054,461,00 45,960,000.00
8,460,284.00

26,315,011.00 0.00
10,480,903.00 7,125,238.00
0.00 0.00 0,00 750,000.00 3,837,747.00

$

248,001,161.00 $ 3,108,124,542.00 $

3,062,5421533.00 $ 55,582,009.00

-37-

BOARDOF REGENTSOF THE UNIVERSITY SYSTEMDF GEORGIA ADMINISTRATIVE CENTRALOFFICE(OVERSIGHT UNITI SCHEDULE OF APPROVED BUpGET
"8" REGENTSCENTRALOFFICEAND OTHERORGANIZED ACTIVITIES YEAR ENDEDJUNE 30 1999

~
State Appropriation Other RevenuesRetained
EXPENDITURES
PersonalServices: Education,Generaland Departmental Services Sponsored Operations
OperatingExpenses: Education,Generaland Departmental Services SponsoredOperations
Capital Outiay AgriculturalResearch AdvancedTechnologyDevelopment Genter-
EoonomlcDevelopment Institute CapitationContractsfor FamilyPraCtioe
Residency ResidencyCapitationGrants StudentPreceptorships MercerMedicalSchool Grant MorahouseSchoolof Medldne Grant Centerfor Rehabilitation Technology SREB Payments MedicalScholarships RegentsOpportunityGrants RegentsScholarships Rental Paymentsto GeorgiaMilitaryCollege CRT Inc. Contractat GeorgiaTech Research
Institute Direct Paymentsto the GeorgiaPublic
Teleoommunlcations Commissionfor Operations PediatricResidencyCapitationContracts

ORIGINAL APPROPRIATION

AMENDED APPROPRIATION

$

189,362,465.00 $

411,719,034.00

2,260,396.00 79,160,350.00

$ 601,081,499.00 $

81,440,746.00

$

291,150,732.00 $

70,533,799.00

129,325,874.00 42,274,927,00

2,832,448.00

15,755,891.00

4,312,000.00 1,974,000.00
176,400.00 7,660,000.00 7,394,890.00 2,799,505.00 4,827,775.00 1,463,578.00
600,000.00 200,000.00 1,276,071.00

179,214.00

16,064,395.00 460.000.00

-363,322.00 47,681,996.00
1,198,763.00 28,018,526.00
500,000.00 1,371,796.00
1,767,571.00 750,000.00 125,000.00
410,396.00

$

601,081,499.00 $

81.440,746.00

See acoompanylng notesand Independent AcoountanfsCombined Report on Review of Flnandal Statementsand Supplementary Inlonnation.
-38-

SCHEDULE "6"

BUDGET ADJUSTMENTS

TOTAL APPROVED
BUDGET

LESS: BUDGET TRANSFERS TO OTHERUNITS

TOTAL

$

291,849.00 $ 191,914,710.00

22,905,186.00

513,505,570.00

$

23,198,035.00 $ 705,720,250.00 $

153,941,774.00 $ 512,784,093.00

27,972,935.00 1,041,477.00

676,705,867.00 $

29,014,413.00

$

3,667,347.00 $ 294,434,757.00

-5,508,684.00

112,507,111.00

15,381,778.00 9,158,895.00
4,000.00

145,906,435.00 79,452,148.00 504,000.00 2,632,448.00

70,930.00

17,198,617.00

58,120.00 174,000.00

4,312,000.00 1,974,000.00
176,400.00 7,850,000.00 7,394,890.00 4,825,196.00 5,577,775.00 1,762,578.00
500,000.00 200,000,00 1,275,071.00

179,214.00

291,849.00

16,766,840.00 480,000.00

$

23,198,035.00 $ 705,720,280.00 $

288,745,976.00 $ 112,507,111.00
143,888,617.00 79,317,148.00 504,000.00 2,632,448.00
17,198,617.00
4,312,000.00 1,974,000.00
176,400.00 7,850,000.00 7,394,890.00 4,625,196.00 5,210;250.00
179,214.00
450,000.00

5,885,781.00 0.00
2,217,818.00 135,000.00 0.00 0.00
0.00
0.00 0.00 0.00 0.00 0.00 0.00 387,525.00 1,762,578.00 800,000.00 200,000.00 1,278,071.00
0.00
15,766,640.00 0.00

575,705,667.00 $

29,014,413.00

-39-

BOARPOF REGENTS OF THE UNMiRSITY SYSTEM OF GEORGIA
ADMINISTRATIVE CENTRAL OFFICE<OVERSIGHT UNID
SCHEDULE OF APPROVED BUDGET
"0" LOTTERY FOREDUCATION YEAR ENDEpJUNE 30 1999

~ Stale Appropriation OtherRevenues Retained
EXPENDITURES Equipment, Technology and Construction
Trust Fund GeorgiaPublicTelecommunications Commission InternelConnection Initiative SpecialFundingInitiative GeorgiaMilitaryCollege. EqUipment GeorgiaResearch Alliance

ORIGINAL APPROPRIATION

AMENDED APPROPRIATION

$

26,685,000.00 $

200,000.00

26,685,000.00 $

200,000.00

15,000,000.00 2,000,000.00 2,219,000.00 7,466,000.00 $

200,000.00

$

26,685,000.00 $

200,000.00

Seeaccompanying notesand Independent AccountanfsCombined Report on Reviewof Financial Statements and Supplementary Infonnatlon.
-40-

SCHEDULE '7"

BUDGET ADJUSTMENTS

TOTAL APPROVED
BUDGET

LESS: BUDGET TRANSFERS TO OTHERUNITS

TOTAL

$ 26,885,000.00 $

$ 1,645,810.00

1,645,810.00

18,415,000.00 $ 1,645,810.00

8,470,000.00 0.00

$

1,645,810.00 $ 28,530,810.00 $

201060,810.00 $

8,470,000.00

$

131,826.00 $ 15,131,626.00 $

2,000,000.00

2,219,000:00

5,000.00

7,471,000.00

200,000.00

1,509,184.00

1,509,184.00

15,131,626.00 $
3,420,000.00 1,509,184.00

0.00 2,000,000.00 2,219,000.00 4,051,000.00
200,000.00 0.00

$

1,645,810.00 $ 28,530,810.00 $

20,060,810.00 $

8,470,000,00

-41-

BOARP OF ReGENTS OF THe UNI\IERSJJY sysTEM OF GeORGIA
ADMINISTRATIVE CENJBAb OFFICE (OVERSIGHT UNID
SCHeOOLe OF BUpGET TRANSFeRSTO OlJ:!ER UNITS -A- RESlpW INSTRUCTION
YEAR ENDED JUNe so 'm

UNITS OF THE UNIVeRSITY sysTEM OF GeORGIA
-,RESEARCH UN!VeRsmES GeoIgI.I_ ofTec:hnology Research ColllOdlum
Advanced Tad1noIogy OavaIopmeI't Cenlar
GeoIgIaTech Raaaan:h 1 _ SpacialFunding1 _
Regular Year2000 Project _SlatsU_ Raaaan:h Consa<tium
RagUor SpecialFunding InItiaItYe V. . 2000 ProieCt MadlcalCoIIegao f _ Researdl ConsortIum Student Education Era1chmert Program SpacIalFuncfing 1 _ V. . 2000 Project: U,,-.Ity of GeorgIa Forestry Research 0fIice of Minority Business Enterprise Raaaan:h CooIor1Ium
RagU., Agricultural ExperIment StatIon Special Funding Initiative V. . 2000 Project:
REGIONAl. uNIYEBSmes

Georgi. SouIhom Un1vaIdy Reaeardl Consortium
ValSd_ pecia_ lFundU ing In_ itiative
Raaaan:h ConoorIIum SpecialFunding Initiative Year2000 ProjecI

STATE UNl\IERSmESlCOLbIiGES

_AIl.nIlc_U_E,-_ Albany_~ 0lIIc0 of MlnorlIyBuainaIs SpacialFunding1 _ Year2000 Project

_ Spe_ cialFunUdinnlgveInrsitlilaytive

omce of Mlnortty Buail"l88S ErUrprtse
SpacialFunding1 _ Vaor2000_ ClaylanCoIloga.nd _ U,,-.Ity
SpecialFunding Initiative Columbus Slats U......1ty
Special Funding Initiative FortValleySlats Unlvarolty
SpecialFUnding Initiative Georgia CoIlegaand_ U _
Special Funding Initiative GeoYIegaIar2S0_ 00 Projec_ t: Unlvarsity

SpecialFunding Initiative

Vea' 2000ProJIlCl Kennesaw State Unlveralty
SpacialFunding1 _
Year2000 Project NoothGeolgIa College and _

U_

SpacialF u n d l n g _ Year2000 Project
Soe_-.ond_.......-rt.Comblnad_

on Review of FinancialStB!emBntI8f1d SUpp!8fMrary Il"IIonMtIon.

PERSONAL SERVICES

EDUCATION,

GENERALAND

DEPARTMENTAL

SPONSORED

SERVICES

OPERATIONS

APPROVEDBUDGET

OPERATINGEXPENSES

EDUCATION.

GENERALAND

DEPARTMENTAL

SPONSORED

SERVICES

OPERATIONS

200,091,174.00 $ 61,422,968.00 $ 88.219,002.00 $ 70,577,032.00

167,407,373.00

25,742,320.00

61,531,132.00

113,257.660.00

88,321,321.00

48,036,556.00

30,197,334.00

20,741,605.00

327,430,447.00

60,000.000.00

100,972,305.00

170.000,000.00

78,684,296.00 62,403,272.00

3,015,331.00 1,375.131.00

21,256,540.00 10,383,049.00

74.984,869.00 38.022,351.00

20,757.778.00

2,ll8ll,458.oo

4,122,427.00

24.oes,198,00

25,304.989,00 25.215,905.00

671,178,00 379,881.00

7,930,.23.00 5,655 .....00

6,769.eoo.00 5,608,599.00

23,262,662.00 28,458,802,00 15,619,111.00 28,308,7.9.00
13,681,527.00
55,857,804.00
18,419,-429.00

1,526.165.00 1,622,709.00 8,076,335.00
440,303.00
1.178,639.00
2,205,124.00
384,475.00

9,432,804.00 5,919,122,00 4.740,252.00 6,635,129,00

5.352,099.00 20,014,473.00 25,820,342,00 15,707,'830.00

4.850,677.00

4,871,603.00

18,195.778.00

14,726,473.00

3,927,859.00

5,147,452.00

-42-

SCHEDULE"."

CAPITAl. OUTlAY

OTHER

TOTAl.

STATE FUNDS

FUNDING PROVIDED OTHER
REVENUES RETAINED

TOTAl.

$ 30,979.884.00

$ 21,432,888.00

1,086,814.00 541.021.00

40.962.404.00

3,573.911.00 1.3'1,390.00

8,100,039.00 52,606,861.00

7,575,000.00 1,160,178.00 2,116,328.80
2.036,000.00 381,267.00
1,853,412.00 1,201,926.00
1,054,481.00 500.35'.00

12. . . . ,963.00 260.....00
1,807,244.00 1,421,741.00

029,290.060.00
21,0132,888.00
1,086,814.00 641.021.00
3.573,911.00 ',~1.390.00 39.,000.909.00
7,575,000.00 1,160,178.00 2,116,328.80 195,397,055.00 2,038,000.00
361,267.00 1.853,412.00 1,201,928.00 711.009,633.00 1.054,461.00
500.35',00
12,8",963.00 264.614.00
1,807,244.00 1,.421,741.00

142.753.717.00 $ 288,536.....00 $ 429,.290,060.00

21,432,888.00

21,ol32,88.,00

1,086,814.00 541))21.00

1.Q86,814.00 541,021.00

3,573,911.00
1.3'1,390.00 153,079;107.00

245,421,502.00

3,s73.911,00 1.3'1,390.00 398,900,909.00

7,575.000.00 1,160.178.00 2,116,328.80 96,110,727.00 2,038,000.00
361.267.00 1.853,412.00 1,201,928.00 313,877,159.00 1,054,.461.00
500.35'.00

99,286,328.00 397,132"70.00

7,575,000.00 1,160,178.00 2,116,328.80 195,397,055.00 2,038,000.00
361,287.00 1,853,412.00 1,201,928.00 711,009,633.00 1.054.461.00
500.35'.00

12.....963.00 260.....00
1,807.2"".00 1,421,741.00

12.894,963.00 264,814.00
1,807.244.00 1,421,741.00

.,522,000.00 3,459,650.00

10,2S0.oo 2,673,129.00
16,2S0.oo 903,8M.00 209,211.00

186,484,836.00
10.250.00 2,673,129.00 105,643,459.00
18,2S0.oo 903,8M.00 209,211.00

7O,714,1S4t1.oo 10,250.00
2,673,129.00 43,.429,928.00
16,250.00 903,334.00 209,211.00

115,750,290.00 82,213,531.00

186.464,838.00 10,250.00
2,6:73,129.00
105.643,459.00 1.,2S0.oo
903,630.00 209,211.00

995,555.00
1,808,735.00 2,828,184.00
792,380.00 3,501,025.00 2,388,133.00 2,"2,048.00 1,600,723.00 3,189,187.00 3.410,609.00

90,000.00 _.805.00 119,595.00
879,648.00
200,000.00 194,576.00
10,494.00
385,575.00
1,1>17.815.00
883,421.00
280,243.00 203,881.00
259,131.00 102,510.00
521,391.00 167,250.00
226,383.00 59,714.00

52,830..,2.00 90,000.00
_.605.00 119,595.00 42,304,805.00 879,648.00 39,868,513.00 200,000.00 194,576.00
10.....00 40,366,130.00
385,575.00
59,514.131.00 1,047,815.00
59,844,773.00 883,421.00
53,533,859.00 280,243.00 203,881.00
25.983,189.00 259,731.00
102,510.00
94,174,166.00 521,391.00 167,250.00
31.289,824.00 226,383.00 59,714.00

18,211,177.00 90,000,00
_,805.00 119,695.00 23,556.449.00 879,648.00 23,821,944.00 200.000.00 194,576.00 10,494.00 17,211,181.00 385,575.00 25,091 ,678.00 1,047,615.00 19,430,351.00 883,421.00 26,833,706.00 280,243.00 203,881.00 13,317.417.00 259,131.00 102,510.00 45,917,387.00 521,391,00 167,2S0.oo 17,523,8M.00 226,383.00 59,714.00

34,419,235.00
18,748,356.00 16,268,569.00
23,154,949.00 300.022,'53.00 40,414,422.00 26,700,153.00 12,665,752.00 48,256,779.00 13,765,790.00

52,630,412.00 80,000.00
_,805.00 119,595.00 42,304,805.00 879,648.00 39,888,513.00 200,000.00 194,578.00
10,494.00 40,366.130.00
365,575.00 59,514.131.00
1,047,615.00 59,844,773.00
883-'21.00 53,533,859.00
280,243.00 203,881.00 25.983,189.00 259,731.00
102,510.00 94,174,166.00
521,391.00 167,250.00 31,289,624.00 228,383.00
59,714.00

03

BOARP OF REGENTS Of THE UNI\fERSrrv symM OF GEORGIA
AQMINISlRATI\IE CENTRALOfFice (O\IEBSIGHT UNm
SCHepULe OF HYMEl DWlSFeRS TO OTHeR UNITS -A- aeSlpeNT INSJRUCDON
YEAR eNDep JUNE so 1QQj

UNITS OF THE UNIYERStIY SYSTEM OF GeoRGIA

STAre UNMiBSmeSlCOLLEGes

SavannahSlate U......ity SpecialFunding Initiative V_ 2000 Project
SoulhemPdyIechnIc Stale Urivellity SpecIal Funding Initiative Year2000Pro.teet
Stale UrlvorsityofWestGeo'llIa SpecialFunding Initiative Year 2000 Project

ASSOCIATE QEGREe COLlEGeS

Abraham Baldwin AgriculbJral Conege Special Funding lnlllattve Year2000 Project
AUanta Metropolitan College Officeof Minority Business Enterprise Special Funding InItlative Year2000 Project
Bainbridge College SpecialFunding, _
CoastalGoo'lli. Comnurity College Speoial FundingInlllatMl Year2000 Project
Dalton _ College
Spoclal Funding, _
Year2000 Projecl DartonCollege
SpecialFunding Initiative Year 2000 Project East Goo'll'. College Spoclal Funding, _
Floyd College Special FundingInillallve Year2000 Project
Gainesville College Spoclal Funding, _
_ Year2_ 000ProrjCecotllege

Spoclal FundingInillallve GontonCollege
Spoclal FundingInillallve Year2000 Project M.... _CoIIege Spoclal Funding, _

Year2000 Project

Middle _

College

Spoclal FundingInIIIaIlve Year2000 Project
South GeoogIa College
Special Fmding Initiative Year2000 Project Waycross College SpecialFunding Initiative Year2000 Project

PERSONALSERVICES

EDUCATION.

GENERAl.AND

DEPARTMENTAL SPONSORED

SERVICES

OFERATIONS

APPROVEDBUDGET

OPERATING EXPENSES

EDUCATION.

GENERALAND

DEPARTMENTAL

SPONSORED

SERVICES

OPERATIONS

18,659,280.00 22,184,459.00 .0.264,441.00

3,024,231.00 985,729.00
1,591,954.00

.,384,849.00 5,180,491.00 9,788,673.00

15,634.755.00 7.999,885.00
23.S33,889.oo

11,627,844.00 7.620,828.00

803;100.00 585;675.00

2,885,542.00 3,453,207.00

3,713,077.00 3,905,203.00

4,310,075.00 7.043,432.00

926,CNU,OO 940,418.00

10,12.,833;00

1,857.982.00

10,351,882.00

0485,454.00

3.563,711.00 10,552,592.00

78,362.00 863,7ll9'oo

10.eso,691.oo

252,795.00

48.720,521.00 8,294.902.00

199,881.00

13,349,lHlO.00

357,371.00

9,528,218.00

21,680.00

5.252,938.00

278,450,00

3,325,345.00

3;000.00

1,241.442.00 1,Ml ,338.00

2.236,638.00 2,398,106.00

2.707,383.00

5,385,906.00

2,972,680.00

.,056,034.00

1,Q30,357.oo 4.826,273.00

1,140,104.00 2,147.267.00

2.127,042,00

2,445.593.00

15,8S1,468.oo 2,4.92,449.00

11,090,119.00 1,859,398.00

2,773,828.00

3,373,385.00

2.229._.00

2,609,595.00

2,168,101,00

1,806,550.00

984,871,00

1;086,434.00

S~daway , ' ' - ofOcea"""raphy Research Consortium
Special Funding IrilttatlWl

end_'_ 'ndepende"_. soenea_ccoomfpF ony_ lng -._ end

CombIned~

".,8,,28.538.00 S 231:831:524.00 S .,9,97,05'.00 712.120;8204.00 44-

SCHEOULE'S"

CAPITAL OUTI.AY

OTHER

TOTAL

STATE
FUNDS

FUNDINGPROVIDED OTHER
REVENUes RETAINEO

TOTAL

2,496,178.00 771,558.00
4,759.242.00

367,389.00 50,050.00
632.,072.00 107.559.00
1.045,369.00 45.389.00

44.199,093.00 367.389.00 50,050.00
37,082.131.00 632.072.00 107.559.00
79,918,179.00 1,045.369.00 45,389.00

19,559,4 . 00 367,389.00 50,050.00
19,764.756.00 632.072.00 107.559.00
36,614,564.00 1,045,369.00 45,389.00

24,639,677.00 17,317,375.00 43,303,615.00

44,199.093.00 367,389.00 50,050.00
37,082.131.00 632.072.00 107,559.00
79,918,179.00 1.045,369.00 45,389.00

1,597.100.00 528,930.00
315,545.00 564,700.00 1,008,000.00 757,000.00 287,.400.00 461,000.00 688,272.00 3.368,639.00 438,550.00 ',267,3'9.00 1,234,7:/5.00 638,200.00 377,713.00

178,330.00 178,003.00
200,000.00 247,194.00
68,340.00
194,308.00
304,328,00 23,172.00
121,218.00 212,147.00
250,258.00 233,205.00
381,637.00
164,52ol.oo 96,736.00
256,422.00 35,289.00
355,552.00
122,080.00 48.977.00
1,614.769.00 139,570.20
569,550.00 63,784.00
178,780.00 182,977.00
119,052.00 21,043.00

20.426.683.00 178,330.00 178,003.00
16,093,843.00 200,000.00 247.194.00 68,340.00
9,029,784.00 194.308.00
12,806,994.00 304,328.00 23,172.00
21,094,086.00 121,218.00 212,147.00
18,633,050.00 250,258.00 233,205.00
6,099,934.00 381,837.00
18,~1,181.00
184,524.00 96,736.00 16,664,393.00 258,422.00 35,289.00 78.930,629.00 355,552.00 13,085,359.00 122,oso.OO 48,977.00 21,121,863.00 1,814,789.00 139,570.20 15,623.917.00 569.850.00 63,784.00 10,145,239.00 178.780.00 182,977.00 5,757,363.00 119,052.00 21,043.00

12.080.995.00 178,330.00 178,003.00
S,OOO.657.OO 200,000.00 247,194.00 88,340.00
4,587.317.00 194,308.00
6,989,987.00 304,328.00 23,172.00
9,694.25'.00 121,218.00 212,147.00
10,209,643.00 250,258.00 233,205.00
3,590,387.00 381,837.00
10,898,429.00 164,52ol.oo 96,736.00
10,0433,.499.00 256,422.00 35,269.00
46,894,831.00 355,652.00
S,453,442.00 122,080.00 48.977.00
13,179,886.00 1,814,769.00 138,570.20
10,205,'158.00 569,850.00 83.784.00
5,889,541.00 178,760.00 182,977.00
3,699.369.00 119,052.00
21.043.00

8.345.668.00 S,088,986.OO
4,442,467.00 5,619,007.00 11,399,835.00 8,423,407.00 2,S09,s67.oo 7,M2,752.oo 8,230,894.00 32,D35,798.oo 4,831,917.00 7,941,977.00 5,418.759.00 . , 2 5 8. . . ..00 2,057,994.00

20.426.663.00 178,330.00 178,003.00
16,093,843.00 200,000.00 247.'194.00 68,340.00
9,029,784.00 194,308.00
12,608,994.00 304,328.00 23,172.00
21,094,086.00 121,218.00 212,147.00
18,633,050.00 250,25&.00 233,205.00
6,099,934.00 381,837.00
18,451,181.00 164,52ol.oo 96,736.00
16,664,393.00 256.422.00 35,269.00
78,930,629.00 355,562.00
13,085,358.00 122.080.00 48.977.00
21.121,863.00 1,814,769.00 138,570.20
15,623,917.00 569,850.00 63.784.00
10,145,239.00 178,760.00 182,977.00
5.757,383.00 119,052.00 21,D43.oo

219,809.00

100,000.00 115.135.00

219,809.00 100,000.00 115.135.00

219,809.00 100,000.00 115135.00

219,809.00 100,000.00 115,135.00

$ 189368917.00 S 81 121 689.00 S 30525533.00 S 1373172,214.00 S 1 679&70,319.00 $ 3052.542,533.00

45

BOARDOF REGENTS OF THE UNIVERSITY SYSTEMOF GEORGIA
ADMINISTRATIVE CENTRALOFFICE(OVERSIGHT UNm
SCHEDULE OF BUDGETTRANSFERS m OTHERUNITS
"8" REGENTSCENTRAl.OFFICEANDOTHERORGANIZED ACTMDES
YEAR ENDEDJUNE30 1999

UNITSOF THE UNIVERSITY SYSTEMOF GEORGIA
RESEARCH UNIVERSmES

PERSONAL SERVICES

EDUCATION,

GENERAL AND

DEPARTMENTAL SPONSORED

SERVICES

OPERATIONS

APPROVEDBUDGET

OPERATING EXPENSES

EDUCATION,

GENERALAND

DEPARTMENTAL

SPONSORED

SERVICES

OPERATIONS

GeorgiaInstituteof Technology

EducationExtensionservices

Advanced Technology Developmentca_

GeorgiaTech ResearchInstitute

$ 24,624,191.00 $ 41,938.667.00 $

Agricultural Research

Centerfor RehabIlitation Technology

CRT Inc.at GeorgiaTech Research Institute

MedicalCollegeof Georgia

MedicalCollegeof GeorgiaHospitaland Clinics Joint Board of FamilyPractice
capitation Contrads for FamilyPracticeResidency

177,407,157.00 347,434.00

45,957,253.00

Residency capitation GranIs

StudentPreceptorshlps

MercerMedicalSc:hooI Grant

Morehouse Sc:hooI of MedicineGrant

SREB Peymenls

PediatricResidencycapltalion ContracIs
e GeorgiaRedietionTherapy e-

2,107,675,00

Universityof Georgia

Agricultural ExperimentStation

39,461.970.00

9,500,000.00

Athens and Tifton VelarinaJy laboratDries CcoperativeExtension_
MarineI n ' MarineReeou""'" Extension ca_ VelarinsryMedicineExperimentStation
AgriculturalResearch

131,006.00 38,754.022.00
701,n4.oo 1,288,009.00 1,840,282.00

2,834,916.00 9,800,000.00
575,000.00 340,000.00

VelarinsryMedcIne TeachingHospItal

2,272,220.00

23,324,912.00 $ 16,493,411.00

92,284,995.00 232,467.00

41,534,928.00

1,403,789.00
12,473,721.00 1.079.00
6,620,290.00 501,925.00 812,627.00 338,989.00
4,672,784.00

13,000,000.00 1,165,084.00 5,200,000.00 175,000.00 160,000.00

SkIdaway Instituteof Ocaanography

1,810,038.00

',661.275.00

821,039.00

1,588,725.00

$ 288,745,976.00 $ 112,607,111.00 $ 143,6881617.00 $ 79.3'7,'48.00

see accompanying notasand Independent _ s Combined Report onRevIew of Anancial Sta1IImenlsand Supplementary Information.
-46-

SCH~DUUE"9"

CAPITAL OUTLAY

OTHER

TOTAL

STATE FUNOS

FUNDING PROVIDED OTHER
REVENUES RETAINED

TOTAL

S 17.198.617.00 S 17.198.617.00 S

106.381.161.00

1.637.190.00

1.637.190.00

4.625,196.00

4.625.196.00

179,214.00

179.214.00

7,692.033.00 S 9.506.584.00 S 17.198.617.00

2.657.764.00 103,523.417.00 106.381.181.00

1.637,190.00

1.637.190.00

4.625.196.00

4,625.196.00

179,214.00

179,214.00

4,312.000.00 1.974.000.00
176,400.00 7.660.000.00 7.394,690.00 5.210,260.00
480.000.00

357.164.333.00 579.901.00
4.312.000.00 1.974.000.00
176.400.00 7.660.000.00 7.394,690.00
5,210.250.00 480,000.00
3.511,664.00

34.591.286.00 579,901.00
4.312.000.00 1.974.000.00
176,400.00 7.660.000.00 7.394.690.00 5,210,260.00
480.000.00

322,593.045.00 3.511.664.00

357.164.333.00 579,901.00
4,312.000.00 1.974.000.00
176.400.00 7.860.000.00 7.394.690.00 5.210,260.00
480.000.00 3.511.664.00

$ 500.000.00

995,258.00

74.935.691.00 4,132.085.00 58.574.312.00 1.953.699.00 2.600.636.00 2.179,271.00
995,258.00
6.945.004.00

42,320.924.00 131.006.00
34.086.429.00 1.066.845.00 1.515.836.00 2.179,271.00 995,258.00 545.004.00

32,614.767.00 4.001.079.00 24.497.663.00
886.854.00 1.064,800.00
6.400.000.00

74.935.691.00 4.132.085.00 58,574,312.00 1,953,699.00 2,800,638.00 2.179,271.00
995,258.00 6.945.004.00

4,000.00

5,865.075.00

1.731.075.00

4.154.000.00

5.865.075.00

S 504.000.00 S 51.643.015.00 $ 676.705.867.00 $ 163.941:774.00 S 512.7841093.00 S 676.705.867.00

47

BOARDOF REGENTSOf THE UNIVERSITYSYSTEMOF GEORGIA
APMINISTBATI\(E CENTRAL OffICE IO\fERS1GHT UNIT)
SCHEDULE OF BUpGET TRANSFERS TO OTHER UNITS
0 LQTIEBYfOR EpUCATJON
YEAR ENDED JUNE 30 ,gag

UNITS OF THE UN!VERSITY SysTEM OF GEORGIA
RESEARCH UNI\IEBStTlES
Geolgia Instituteof Technology Georgia Research Alliance
GeorgieStete University Medical College of Georgia
GeorgiaResearch Alliance Universityof Georgia
REGIONAL UNI\IERSITIES
GeorgiaSouthern University Valdosta StateUniversity
BillE UNJVERSITIESlCObbEGES
Albany State UniV8l1lIty ArmstrongMantic State University Augusta StateUniversity Clayton Collegeand State University Columbus State University Fon Valley State University Georgia Collegeand State University GeorgiaSouthwestern Stale University Kennesaw State University North Georgia Collegeand State University Savannah Stale Univenllty SOuthamPolytechnicState University Stale Universityof Weal Georgia
ASSOCIATE pEGREE COLLEGES
Abl'ShamBaldwin Agrlcu1tural College Atlanta MetropolitanCollege Bainbridge CoHege CoeatalGeorgia CommunityCollege Dalton State College Darton College East GeorgiaCollege Floyd College Gainesville College Gaorgla Pa~meter College Gerdon College MaconState College Middle GeorgiaCollege SouthGeorgia College WaycrossCollege

EQUIPMENT, TECHNOLOGY
AND CONSTRUCTIQN
TRVSTFUND

APPROVED
SPECIAL FUNDING INITIATIVES

3.527.000.00
1,527,000.00 682.000.00
3.376,626.00

157,500.00
152,500.00 147,000.00
262.000.00

457.000.00 415.000.00

158.000.00 152.500.00

174.000.00 228,000.00 226,000.00 752,000.00 226,000.00 116,000.00 226,000.00 116,000.00 291,000.00 116.000.00 174.000.00 174.000.00 291.000.00

105.500.00 117,500.00 100.000.00 100.000.00 100,000.00 130.500.00 105.000.00 105.500.00 100.000.00 105,500.00 105,500.00 100,000.00 123,000.00

118.000.00 58.000.00 58.000.00 58.000.00 148.000.00 116.000.00 29.000.00 567.000.00 158.000.00 210.000.00 116,000.00 148,000.00 116,000.00 58,000.00 29,000.00

58.500.00 58,500.00 58,500.00 64,500.00 53.000.00 58.500.00 53,000.00 58,500.00 58.500.00 111,500.00 53.000.00 103,500.00 59,000.00 58,500.00 58,500.00

SkldawayInstituteof Oceanography
See accompanying notesand Independent Accountanfs Combined Report on RevIewof Financial Statementsand SupplementaryInIonnation.
-48-

50.000.00

25.000.00

$ 151131,626.00 3.420,000.00

SCHEDULE"10"

BUDGET OTHER

TOTAL

STATE FUNDS

FUNDINGPROVIDED OTHER
REVENUES RETAINED

TOTAL

50,000.00 1.459.184.00

3,684.500.00 50.000.00
1,679,500.00 829.000.00
1,459,184.00 3,840,626.00

3.589,500.00
1,679.500.00 829.000.00
3.599.000.00

95.000.00 50.000.00
1,459,184.00 41,626.00

3.684,500.00 50,000.00
1.679,500.00 829,000.00
1,459,184.00 3.840,626.00

615.000.00 587.500.00

615.000.00 587.500.00

615,000.00 587,500.00

279,500.00 345.500.00 328,000.00 852.000.00 328.000.00 246.500.00 334.000.00 221.500.00 391.000.00 221.500.00 279.500.00 274.000.00 414,000.00

279,500.00 345,500.00 326,000.00 852.000.00 328.000.00 246.500.00 334,000.00 221.500.00 391,000.00 221,500.00 279.500.00 274.000.00 414.000.00

279.500.00 345,500.00 326.000.00 852,000.00 328.000.00 246.500.00 334.000.00 221.500.00 391.000.00 221,500.00 279.500.00 274.000.00 414.000.00

174,500.00 116,500.00 116,500.00 122,500.00 199.000.00 174.500.00 82.000.00 625.500.00 214,500.00 321,500.00 169,000.00 249.500.00 175,000.00 116.500.00 87.500.00

174.500.00 116.500.00 118.500.00 122.500.00 199.000.00 174.500.00 82.000.00 825.500.00 214,500.00 321,500.00 169.000.00 249,500.00 175.000.00 116.500.00
87,500.00

174,500.00 116.500.00 118,500.00 122.500.00 199,000.00 174,500.00 82,000.00 825,500.00 214.500.00 321.500.00 169,000.00 249,500.00 175,000.00 116,500.00
87.500.00

76,000.00

76.000.00

76.000.00

1,509.184.00 S 20,060,810.00 S 18,415.000.00 1.645.810.00

20,060,810.00

49

BOARDOF REGENTS OF THEUNIVERSITY SYSTEMOF GEORGIA ADMINISTRATIVE CENTRAL OFFICE!OVERSIGHT UNID CHANGES IN INVESTMENT IN PLANT YEARENDEpJUNE30 1999

Land Equipment UbraryBooks and Collections Conslrucllon in Progress
SUMMARY OF INVESTMENT Administrative central Office capital Leases

BALANCE JULY 1 , 1 9 9 8

CURRENT FUNDS UNRESTRICTED

$

2,501,8n,OO

19,112,782.05 $

5,995,028.Q1

31,384.30

155,679,715.87

$ 1rr ,325,759.22 $

5,995,028.01

$ 176,426,051.27 $ 899,707.95

5,995,028.01

$ 1n,325,759.22 $

51995,028.01

see accompanying notes and Independent AccountanfsCombined Report on Revlewof FlnenclalStatements end Supplementary Information.
-50-

SCHEDULE "11"

ADDITIONS PLANT FUNDS UNEXPENDED

$

$

12,833,144.55

CAPITAL LEASES

DEDUCTIONS DISPOSALSI DELETIONSI ADJUSTMENTS

$

2.787,962.80 $

3,108,968.06

BALANCE JUNE 30. 1999
2.501,877.00 24,786.784.80
31,384.30 165,512.850.42

$

12.833,144.55 $

2,787,962.80 $

3,108.988.08 $

195,832.906.52

$

12.833,144.55

$

- - - - - $-~~2,7=87:,96:2..80.

1,779.547.97 $ 1,329,440.09

193,474,875.86 2.358,230.66

$

12.833.144.55 $

2.787.962.80 $

3,108.988.06 $ _ _.1.9.5.:83:2:,9~06~.5=2~

-51-

BOARDOF REGENTSOF THE UNIVERSITY SYSTEMOF GEORGIA ADMINISTRATIVE CENTRALOFFICE(OVERSIGHT UNID SCHEDULE OF FUNDBALANCES CURRENT FUNDSAND PLANTFUNDS JUNE 30 1999

NET INVESTMENT IN PLANT InvestmentIn Plant Fadlltles
RESTRICTED Designatedfor SubsequentYears' Expenditures
UNRESTRICTED Designated For capllal OuUay AlbanySlale University FloodRecoveryProject For PropertyReserve For EmployeeHealthBenefitsPlen For Year 2000 Project SurpluslDefidt Regular Lotteryfor Education

"A" RESIDENT INSTRUCTION

CURRENTFUNDS

UNRESTRICTED

"B"

REGENTSCENTRAL

OFFICEAND

"D"

OTHERORGANIZED LOTTERYFOR

ACTIVITIES

EDUCATION

$ 2,195,927,30 289,046.70 $
$ 2,484,974.00 $ $ 2,484,974.00 $

38,814.10 $
38,814.10 $

-1,040,91 -1,040,91

38,814.10 $

-1,040.91

See eooompanying notesand Independent AooounlanfsCombined Report on Reviewof Finandal Statementsand Supplementary Information.
-52-

SCHEDULE"12"

EMPLOYEE HEALTH BENEFITS PLAN

RESTRICTED

PLANT FUNDS

UNEXPENDED INVESTMENT

REGULAR

IN PLANT

TOTAL

$ 193,474,675.86 $ 193,474,675.86

$ 4,148,167.82

4,148,167.82

$ -3,307,290.86

$ 2,972,304.47 2,259,199.58

2,972,304.47 2,259,199.58 -3,307,290.86 2,195,927.30

$ -3,307,290.86

$ 5,231,504.05

327,860.80 -1,040.91
$ 4,446,980.38

$ -3,307,290.86 $ 4,148,167.82 $ 5,231,504.05 $ 193,474,675.86 $ 202,069,804.06

-53-

BOARDOF REGENTSOF THE UNlYliRSITY SYSTEMOF GEORGIA
ADMINISTRATIVE CENTRALOFFICE(OVERSIGHTUNID
SCHEDULEOF ALLOTMENTS TO UNITSOF THE UNIIlERSIJY SYSTEMOF GEORGIA
"A" RESIDENTINSTRUCTION
YEAR ENDEDJUNE30 1999

REGULAR

GOIlERNOR'S EMERGENCY
FUNDS

RESEARCHUNIIlERSITlES

Georgia Instituteof Technology GeorgiaSlate University Medical Collegeof Georgia Universityof Georgia

$ 142,753,717.00 153,479,407.00 96,110,727.00 309,343,799.00 $

12,000.00 $

REGIONALUNIVERSITIES

Georgia Southern University ValdostaState University

68,714,546.00 43,429,926.00

STATE UNIVERSITIESICOUEGES

Albany State University ArmstrongAUantic State University AugustaStata University Clayton Collegeand Slate University ColumbusStata UnIvarsIty Fort Valley State UnIvarsIty GeorgiaCollegeand Slate University GeorgiaSouthweslemState University KennesawStata University North GeorgiaCollege and Slate University savannahStale University Southam PolytechnicState Unlvarslty State Universityof West Georgia

16,211,ln.00 23,556,449.00 23,621,944.00 17,211,181.00 25,091.678.00 19,430,351.00 26,808.706.00 13,317,417.00 45,917,387.00 17.523,834.00 19.559,416.00 19.764.756.00 38,599.564.00

15.000.00

ASSOCIATEDEGREECOLLEGES

Abraham BaldwInAgricultural College AUsnteMetropolitanCollege BaInbridgeCollege Coestal GeorgiaCommunty College Dalton State College Darton College East GeorgiaCollege Floyd College Galnesvlia College Georgia PerimeterCollege Gonlon College Macon State Collage Middle GeorgiaCollege South GeorgiaCollege Waycross College

12,080,995.00 8,004,657.00 4,587.317.00 6.989,987.00 9,694,251.00 10,209.643.00 3,590,387.00 10,648,429.00 10,433,499.00 46.894,831.00 8.453,442.00 13.179,886.00 10,115,158.00 5,889,541.00 3.699,369.00

OTHER SkldaweyInstitute of Cceenography

219,809.00

CAPITAL OU11.AY

SPECIAL FUNDING INmATIVE

$ 4,521,360.00

3,573,911.00 1,160,178.00 1,853,412.00 1,807,244.00

2,000,000.00

2,673,129.00 903,634.00

25,000.00

406,605.00 879,648.00 194.578.00 385.575.00 1,047,615.00 883,421.00 260,243.00 259,731.00 521,391.00 226,383.00 387,389.00 832,072.00 1,045.369.00

50,000.00 90,000.00

178,330.00 247.194.00 194,308.00 304.328.00 121,218.00 250,258.00 381.637.00 184.524.00 256.422.00 355.552.00 122.080.00 1.614.769.00 569,850.00 178,760.00 119,052.00

115,135.00

1,285,3371165.00 $ see accompanyingnotes and IndependentAccountenrs ccimblnedReport on Reviewof FinancialSlatemenls and SuppiementeryInformalion.
54

27,000.00 $

6.686,360.00 $

24,295,343.00

SCHEDULE "13"

OFFICEOF MINORITY BUSINESS ENTERPRISE

STUDENT EDUCATION ENRICHMENT PROGRAM

FORESTRY RESEARCH

RESEARCH CONSORTIUM

YEAR2000 PROJECT

TOTAl

500,354.00

361,267.00

954,461.00

21.560.723.00 $ 7.575.000.00 2.036.000.00 12,409.m.00

1.341.390.00 2.116.326.50 1,201.928.00 1.421,741.00

169.229,741.00 164.330,913.50 101,565,334.00 330,970,736.00

10,25D.00 16,250.00

209.211.00

73,397,925.00 44,559,223.00

90,000.00 200,000.00

119.595.00
10,494.00
203.881.00 102.510.00 167.250.00
59.714.00 50.050.00 107.559.00 45.388.00

18.827,3n.00 24,436,097.00 24,027,014.00 17,596,756.00 28,139,293.00 2O,313.m.00 27,317,830.00 13,679,656.00 46,606.028.00 17.809.931.00 19.976.855.00 20.504.387.00 37.705,322.00

200,000.00

178.00300 . 88,340.00
23,172.00 212.147.00 233,205.00
96,736.00 35,269.00
46.977.00 139.570.20 63.784.00 162,977.00
21,043.00

12.437.328.00 8.520.191.00 4.781,625.00 7.317.487.00 10,027,616.00 10,693,106.00 3,972,204.00 11,179.688.00 10,725.190.00 47,25D.383.00 8,624.499.00 14.934,225.20 10.838,792.00 6,251,278.00 3.839,464.00

100,000.00

434,944.00

$

990,354.00 $

361.267.00 $

954,461.00 $

43,710.000.00 $

8,460,263.70 $ 1,370.822.2 13.70

-55-

BOARDOF REGENTSOF THE UNIVERSITYSYSTEMOF GEORGIA ADMINISTRATIVE CENTRALOFFICEIOlIERSIGHT UNITI
SCHEDULEOF ALLOTMENTSTO UNITSOF THE UNIVERSITYSYSTEMOF GEORGIA "B" REGENTSCENTRALOFFICEAND OTHERORGANIZEDACTIIJITIES YEAR ENDEp JUNE 30 1999

SCHEDULE"14"

RESEARCHUNIVERSITIES
Georgia Instituteof Technology Education ExtensionServices AdvancedTechnologyDevelopmentCenter GeorgiaTech ResearchInstitute AgricuJbJral Research Center forRehabilitationTechnology CRT Inc. at GeorgiaTech ResearchInstibJte
Medical Collegeof Georgia MedicalCollegeof GeorgiaHospitaland Clinics Joint Board of Family Practice CapitationContracts for FamilyPracticeResIdency MercerSchool of MedicineGrant MorehouseSchool of MedicineGrant ResidencyCapitationGrants SbJdenlPreceplorships SREB Payments Pedlabic Residencycapitation eontracts
Unlverslly of Georgia AgriculbJraI ExperimentStation Athens and Tifton VeterinaryLaboratories CooperativeExtensionService Marine Institute Marine ResourcesExtensionCenter Veterinary Medicine Experiment Station AgriculbJral Research Veterinary Medicine Teaching Hospital

$

7.692,033.00

2,857,764.00

1,837,100.00

4,625,196.00

179,214.00

34,591,288,00 579,001.00
4,312,000,00 7,680,000,00 7,394,800.00 1,974,000.00
176,400.00 5,210,250.00
480,000.00

42,320,924.00 131,006.00
34,086,429.00 1,056,645.00 1,515,836.00 2,179,271.00 995,258.00 545,004.00

Skldaway Institute ofOC8anography

1,731,075.00

$ 183.941.774.00

See accompanyingnotes and IndependentAccountanrs CombinedRepori on RevIewof FinancialStatementsand SUpplementary Information.
-56-

BOARDOF REGENTS Of THEUNi\lERSITYSYSTEM Of GEORGIA
APMINISTBATI'IE CENTRAL OFFICE(OVERS'GHT UNm SCHEDULE OF ALLOTMENTS TO UNITSOF THE UNIVERSITY SYSTEMOF GEORGIA
.0= LOTTERYFOB EOUCATION
YEARENDEpJUNE30 1999

.'5" SCHEDULE

RESEARCH UNIVERS'T'ES
GeorgiaInstitute01Technology GeorgiaStete University MedicalCollege01Georgie University01Georgia
REGIONALUNIVERSITIES
GeorgiaSouthemUniversity Valdoste State University
STATEUN!VERSITIESICOLLEGES
Albany State University Armstrong Altantic State University Au9ustaState UnIversity ClaytonCollegeand State University Columbus StateUniversity Fort ValleyState University Georgiaeauegeand State University GeorgieSouthweslem State University KennesawState University NorthGeorgiaCollegeand StateUniversity. savannah SteteUnlverslly SouthemPolytechnic StateUniversity State Universityof West Georgia
ASSOCIATE DEGREECOLLEGES
AbrahamBald>Mn Agr1cultural College ADanta MetropolItan College Bainbridgeeauege CoastalGeorgIaCommunltyCollege Dalton State Collage Darton College East GeorgiaCollege Floyd College GeinesvilleCoUage GeorgiaPerimeterCollege Gonion College MaconState CoDage MiddleGeorgiaCollege South GeorgiaCollege Waycross COllege

EQUIPMENT, TECHNOLOGY
AND CONSTRUCTION
TRUSTFUND

SPECIAL FUNDING INITIATIVES

TOTAL

$

3,437,000.00 $

1,527,000.00

682,000.00

3,337,000.00

152,500.00 $ 152,500.00 147,000.00 262,000.00

3,589,500.00 1,679,500.00
829,000.00 3,599,000.00

457,000.00 415,000.00

158,000.00 152,500.00

615,000.00 567,500.00

174,000.00 228,000.00 228,000.00 752,000.00 228,000.00 116,000.00 228,000.00 116,000.00 291,000.00 116,000.00 174,000.00 174,000.00 291,000.00

105,500.00 117,500.00 100,000.00 100,000.00 100,000.00 130,SOO.00 106,000.00 l05,SOO.OO 100,000.00 105,500.00 105,500.00 100,000.00 123,000.00

279,500.00 345,500.00 328,000.00 852,000.00 328,000.00 248,500.00 334,000.00 221,SOO.00 391,000.00 221,SOO.00 279,500.00 274,000.00 414,000.00

116,000.00 58,000.00 58,000.00 58,000.00 146,000.00 116,000.00 29,000.00 567,000.00 158,000.00 210,000.00 116,000.00 146,000.00 116,000.00 58,000.00 29,000.00

58,500.00 58,500.00 58,500.00 64,500.00 53,000.00 58,500.00 53,000.00 58,500.00 58,SOO.OO l",SOO.OO 53,000.00 103,500.00 59,000.00 58,SOO.OO 58,SOO.OO

174,SOO.00 116,500.00 116,500.00 122,500.00 199,000.00 174,500.00
82,000.00 625,500.00 214,SOO.00 321,500.00 189,000.00 249,500.00 175,000.00 116.S00.00
87,SOO.00

SkidawayIns_ 01Qcaanography

SO,OOO.OO

26,000.00

76,000.00

see accompanying notesand Independent Accountant's Combined Report on Review01FInancialStetementa and Supplementary Information.
!if.

3.415.000.00

18,415,000.00

BOARQ OF REGENTS OF THE UNJ\lERSITY sysTEM OfGEORGIA
AQMlN!STBAJJ\I CENTRAl OFFICE (OVERSIGHT UNm ANAlYSIS OF PRIOR YEAR'S SURPLUS RINDS COLJ.ECm) fROM INSTIWDONS
ANp REplSTRIBUTED TO !"STIumONS WITH PgFICJTS YEAR ENDEp JUNE 301'"

RESEARCH UNI\fERSmES
Georgia'..-ofT_ GeorgiaStll.. U......1Iy _r~ofGeorgIa UniversllyofGeorgia
REGIONAL UNM;RSITIES
STATE UNI\fERIDESlCQLLEGES
Albany StlI.. ..-oily
Armstrong AtIantk: State U.w.atty
--..-oily
ClaytonCollegeand Slate U......1ty Columbus SIaIe University Fort Valey S.... Unlvorolly GGeeoorrggiiaa C_ oIege_ and S.S.t.lI..". -UO nIvlelrysIIy
Kennesawstale UnIveraIty
North GeorgIa CoIege and _..-oily SaVlmlh StotoUnivorIIly
SouthemP _ Slala UnivorIIly Slate UnIv8rsilyof Weat GeorgIa
ASSOCiATE DEGREE cg.bEGES
.......................... CoIege --CoIege
Bo_~
CDoaIuIIoanI_GeorgCioaIeCgoemmunlly CoIege
......E"a'st"G"eo"rg'ia~~ ~
GalnesvlIie CoIege
GGeoonrIgoIna C- oIIeg- o CoIege
--~ ...... Georgla~
w """,_ ,,Ge~ orgIa~

TOTAL COLLECTED REDISTRIBUTED

CURRENT

RESIDENTINSTRUCTION

REGULAR

lonERY FOR EDUCATION

COlLECTED REDISTRIBUTED COLLECTED REDISTRIBUTED

26,332.01 $

2,.312.88

0.00

260.60

8,489.06

16,708.84

26.011.22

20,577.55

2,812,80

63.000.82
5,182.20
"10.38
1,81..... 8 379,70
3,835.06

2,184.84

8,460.93

1,042.17 7. . . .
....
1,899.48
0.13

CurTent Funds Unrestricted SwpIua- ExIIIblt"F"

62.816.96

116.888.15

0.00

See accompaR)'lngnot8s and Independent: Aa:cuttant'l CombhJd Report on RevIewd Fin8ncI8I S......... and Supp!emBl*l'y 11'IfotrnIIion.

....

SCHEDULE -1r

FUNDS

OTHER ORGANIZED ACTIVITIES

REGULAR

LOTTERY FOR EDUCATION

~ REDISTRIBUTED

COLLECTED REDISTRIBUTED

PlANT FUNDS

REGULAR

LOTTERY FOR EDUCATION

COLlECTED REDISTRIBUTED

COllECTED REDISTRIBUTED

20,103.31
217,814.20 57,900.18

0.00

.$

10,897.84

0.00 $

5.228.70 85,099.20 14,742.81 11,377.69

0.00 15.318.79
2,019.79

7.01727

2,563.08 4,834.60 39,231.32 7,107.11 8,228.68 3,890.29
. . . .08 862.62 4,803.71 8,2OB.81 3,578.26 705.25 1,295.40
......73....
8,030.41
4,941.92 194.82 17.47
8,978.81
8,591.12
1,8B3.BO 8.07
".10

1,428,125.48

27.201
3B3Jl2

~

200.00

$ 297,842.68 $

0.00 $ 101897.84

0.00 $ 239,327.54 $ 1,128.826.48

17,747.64

0.00

-y-

BOARDOF REGENTSOF THE UNIVERSITY sysTEM OF GEORGIA ADMINISTRATIVE CENTRALOFFICE(OVERSIGHT UNID RECONCILIATION OF SALARIES AND TRAVEL )'EAR ENpEp JUNE30 1999

SCHEDULE"17"

Totals per Annual Supplement

Adjustments

Brigdon,

Beth

ColqUitt,

Suzanne

Fancher,

Lauren

Gordon,

Jon

Iddins,

Kim

Kariin,

Shary

Maler,

Thomas

Plunkett,

Jackie

Skinner,

Dr.Richard

Staman,

Michael

Striplin,

Usa

UnidentifiedVariance

SALARIES $ 10.885,128.17 $

TRAVEL 501,712.68

-407.58

406.00 225.00 285.00 595.00 309.00 595.00 329.00 268.00 1,388.10 606:00
n.oo

$ 10,884,720.59 $

506,795.78

see accompanyingnotes and Independent AooountanfsCombined Report on Reviewof FinancialStatementsend Supplementary Information.
-60-

SECTIONII AUDITEE'SRESPONSETO PRIORYEARFINDINGS AND QUESTIONED COSTS

BOARD OF REGENTS OF THE IJNNERSITY SYSTEM OF GEORGIA
ADMINISTRATIVE CENTRAL OFFICE (QVERSIGHT UNIT>
AUDITEE'S RESPONSE
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30 1999

PRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS

FINDING CONTROL NUMBER AND STATUS

FS-472-98-0l FS-472-98-02

Previously Reported Corrective Action Implemented Previously Reported Corrective Action Implemented