U GA- UA~CO . RI '.' ::r5~1 ;.t ;).000 - ;2001 STATE OF GEORGIA UU'.. " U',, .-,.' U, U,.-., . 00 00000 0 0 1776 MANAGEMENT REPORT DEPARTMENT OF INDUSTRY, TRADE AND TOURISM AN ORGANIZATIONAL UNIT OF THE STATE OF GEORGIA YEAR ENDED JUNE 30, 200 J Russell W. Hinton State Auditor DEPARTMENT OF INDUSTRY, TRADE AND TOURISM MANAGEMENT REPORT - TABLE OF CONTENTS - LETTER OF TRANSMITTAL SELECTED FINANCIAL INFORMATION EXHffiITS A ANALYSIS OF CHANGES IN FUND BALANCE BUDGET FUND B SCHEDULE OF FUNDS AVAILABLE AND EXPENDITURES COMPARED TO BUDGET BUDGET FUND Page 1 2 RUSSELL W. HINTON STATE AUDITOR (404) 6562174 DEPARTMENT OF AUDITS AND ACCOUNTS 254 Washington Street, S.W.. Suite 214 Atl:.ll1ta. Georgia 30334-X400 October 4,2001 Honorable Roy E. Barnes, Governor Members of the General Assembly of Georgia Members ofthe Board of Industry, Trade and Tourism and Honorable R. K. Sehgal, Commissioner Department of Industry, Trade and Tourism Ladies and Gentlemen: As part ofour audit ofthe statutory basis financial statements ofthe State ofGeorgia presented in the State ofGeorgia Report ofthe State Auditor, the general purpose financial statements ofthe State of Georgia presented in the State ofGeorgia Comprehensive Annual Financial Report, and the issuance of a Statewide Single Audit Report pursuant to the Single Audit Act Amendments, as of and for the year ended June 30, 2001, we have performed certain audit procedures at the Department ofIndustry, Trade and Tourism. Accordingly, the financial statements and compliance activities of the Department of Industry, Trade and Tourism were examined to the extent considered necessary in order to express an opinion as to the fair presentation of the financial statements contained in the foregoing documents and to issue reports on compliance and internal control as required by the Single Audit Act Amendments of 1996. This Management Report contains information pertinent to the financial and compliance activities of the Department of Industry, Trade and Tourism as of and for the year ended June 30, 2001. The particular information provided is enumerated in the Table of Contents. This report is intended solely for the information and use of management of the Department of Industry, Trade and Tourism and members ofthe Board and is not intended to be and should not be used by anyone other than these specified parties. Respectfully submitted, RWH:gp Ru sell W. Hinton State Auditor , SELECTED FINANCIAL INFORMATION DEPARTMENT OF INDUSTRY, TRADE AND TOURISM ANALYSIS OF CHANGES IN FUND BALANCE BUDGET FUND YEAR ENDED JUNE 30, 2001 FUND BALANCE - JULY 1, 2000 Reserved Surplus ADDITIONS Adjustments to Prior Year's Accounts Payable Excess of Funds Available over Expenditures Exhibit "B" Prior Year's Checks Voided Repayments from Georgia Ports Authority General Obligation Bond Repayments DEDUCTIONS Unreserved Fund Balance (Surplus) Returned to Office of Treasury and Fiscal Services Year Ended June 30, 2000 Year Ended June 30, 2001 Decrease in Reserve for Inventories Prior Year Check Voided in Error FUND BALANCE - JUNE 30, 2001 SUMMARY OF FUND BALANCE Reserved Inventories General Obligation Bond Repayments Surplus Regular Tobacco Settlement Funds - 1- EXHIBIT "A" $ 61,978.96 524,711.69 $ 586,690.65 $ 202,661.61 271,887.49 50.99 1,413,983.00 $ 1,888,583.09 $ 524,711.69 614,184.00 13,175.02 710.00 $ 1,152,780.71 $ 1,322,493.03 $ 48,803.94 799,799.00 $ 848,602.94 $ 473,890.09 0.00 $ 473,890.09 $ 1,322,493.03 DEPARTMENT OF INDUSTRY, TRADE AND TOURISM SCHEDULE OF FUNDS AVAILABLE AND EXPENDITURES COMPARED TO BUDGET BUDGET FUND YEAR ENDED JUNE 30, 2001 EXHIBIT "B" FUNDS AVAILABLE REVENUES State Appropriation Other Revenues Retained BUDGET ACTUAL VARIANCE FAVORABLE .(UNFAVORABLE) $ 109,941,048.00 $ 109,841,048.00 $ 1,425,810.00 11 ,849.79 -100,000.00 -1,413,960.21 $ 111,366,858.00 $ 109,852,897.79 $ -1,513,960.21 EXPENDITURES Personal Services Regular Operating Expenses Travel Motor Vehicle Purchases Equipment Computer Charges Real Estate Rentals Telecommunications Per Diem, Fees and Contracts Local Welcome Center Contracts Marketing Waterway Development in Georgia One Georgia Fund Georgia Ports Authority Lease Rentals $ 12,598,152.00 $ 12,443,392.30 $ 1,311,323.00 1,279,753.83 605,806.00 547,374.56 60,000.00 59,166.00 93,724.00 60,499.98 391,336.00 370,782.50 818,323.00 798,135.27 434,042.00 437,132.94 1,561,387.00 1,545,147.84 250,600.00 245,600.00 11,824,553.00 11,790,396.08 50,000.00 50,000.00 79,953,629.00 79,953,629.00 1,413,983.00 0.00 154,759.70 31,569.17 58,431.44 834.00 33,224.02 20,553.50 20,187.73 -3,090.94 16,239.16 5,000.00 34,156.92 0.00 0.00 1,413,983.00 $ 111,366,858.00 $ 109,581,010.30 $ 1,785,847.70 Excess of Funds Available over Expenditures $ 271,887.49 $ ==~2~71~,8~8~7.;;;:.4~9 -2-