JEKYLL ISLAND STATE PARK AUTHORITY MANAGEMENT REPORT - TABLE OF CONTENTS - LEITER OF TRANSMITIAL SELECTED FINANCIAL INFORMATION EXHIBITS A ANALYSIS OF CHANGES IN FUND BALANCE BUDGET FUND 1 B SCHEDULE OF FUNDS AVAILABLE AND EXPENDITURES COMPARED TO BUDGET BUDGET FUND 2 C SCHEDULE OF OTHER REVENUES RETAINED 3 D RECONCILIATION OF SALARIES AND TRAVEL 5 E REPAYMENT SCHEDULE OF AMOUNTS OWED TO THE DEPARTMENT OF NATURAL RESOURCES 6 ~USSELL W. HINTON STATE AUDITOR (404) 6562174 DEPARTMENT OF AUDITS AND ACCOUNTS 254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 November 3, 2000 Honorable Roy E. Barnes, Governor Members ofthe General Assembly of Georgia Members of the Jekyll Island State Park Authority and Honorable William A. Donohue, Executive Director Jekyll Island State Park Authority Ladies and Gentlemen: As part of our audit of the general purpose financial statements ofthe State of Georgia presented in the State ofGeorgia Comprehensive Annual Financial Report and the issuance ofa Statewide Single Audit Report pursuant to the Single Audit Act Amendments, as of and for the year ended June 30, 2000, we have performed certain audit procedures at the Jekyll Island State Park Authority. Accordingly, the financial statements and compliance activities of the Jekyll Island State Park Authority 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 of1996. This Management Report contains information pertinent to the financial and compliance activities of the Jekyll Island State Park Authority as of and for the year ended June 30, 2000. 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 Jekyll Island State Park Authority and members of the Authority and is not intended to be and should not be used by anyone other than these specified parties. Respectfully submitted, LJ.~ R ssell W. Hinton State Auditor RWH:jb SELECTED FINANCIAL INFORMATION JEKYLL ISLAND STATE PARK AUTHORITY ANALYSIS OF CHANGES IN FUND BALANCE BUDGET FUND YEAR ENDED JUNE 30, 2000 FUND BALANCE - JULY 1, 1999 Unreserved ADDITIONS Excess of Funds Available over Expenditures Exhibit "B" DEDUCTIONS Unreserved Fund Balance Carried Over from Prior Year as Funds Available FUND BALANCE - JUNE 30, 2000 SUMMARY OF FUND BALANCE Unreserved Undesignated EXHIBIT "A" $ 5,257,411.76 $ 4,538,481.28 $ 5,257,411.76 $ 4,538,481.28 $ 4,538,481.28 -1- JEKYLL ISLAND STATE PARK AUTHORITY SCHEDULE OF FUNDS AVAILABLE AND EXPENDITURES COMPARED TO BUDGET BUDGET FUND YEAR ENDED JUNE 30, 2000 EXHIBIT "B" BUDGET ACTUAL VARIANCEFAVORABLE (UNFAVORABLE) FUNDS AVAILABLE REVENUES Other Revenues Retained $ 16,030,207.81 $ 15,951,243.48 $ -78,964.33 CARRY-OVER FROM PRIOR YEAR Transfer from Unreserved Fund Balance 0.00 5,257,411.76 5,257,411.76 $ 16,030,207.81 $ 21,208,655.24 $ _---"'5"-',1...;..;78=,4...;..;4;..;..7;..;..43~ EXPENDITURES Personal Services Regular Operating Expenses Travel Equipment Telecommunications Per Diem, Fees and Contracts Capital Outlay Debt Service $ 7,611,170.06 $ 7,499,179.05 $ 4,733,632.29 4,383,953.42 67,364.82 37,701.59 356,926.75 421,529.92 101,921.58 89,230.63 723,259.08 678,479.30 3,705,492.53 2,668,015.05 892,085.00 892,085.00 111,991.01 349,678.87 29,663.23 -64,603.17 12,690.95 44,779.78 1,037,477.48 0.00 $ 18,191,852.11 $ 16,670,173.96 $ _--,1.z.=,5=21..;.L.,6;;..;7...=.8;..;..1.=,.5 Excess of Funds Available over Expenditures $ -2,161,644.30 $ 4,538,481.28 $ ==6"=l:,7=0=0i:!::1' =2=5.=5=8 -2- JEKYLL ISLAND STATE PARK AUTHORITY SCHEDULE OF OTHER REVENUES RETAINED YEAR ENDED JUNE 30, 2000 EXHIBIT"C" Contracts Georgia State Financing and Investment Commission Project Number 1993-F Project Number 1997-C $ 109,206.19 271,644.96 $ 380,851.15 Georgia Department of Industry, Trade and Tourism 1,125.00 Hotel/Motel Tax 1,236,756.78 Rental Income Bicycle Rentals Building Rentals Business Leases Cable Service Rentals Convention Center Rentals Equipment Rentals Golf Cart Rentals Lot Rentals Picnic Areas Site Rentals Soccer Complex Rentals $ 56,441.77 79,862.75 2,093,551.34 96.00 232,738.27 44,268.89 1,105,092.11 209,130.00 5,855.00 498,974.03 15,951.26 4,341,961.42 Sales and Services Alcoholic Beverage Sales Less: Cost of Goods Sold $ 347,764.25 -92,467.16 $ 255,297.09 Ambulance Services Annual Decal Sales Concession Sales Less: Cost of Goods Sold $ 363,607.20 -220,776.65 26,258.18 172,504.00 142,830.55 Day Camp Fire Protection Fees Food Sales Less: Cost of Goods Sold $ 2,144,628.01 -812,699.72 17,405.00 290,280.07 1,331,928.29 Fuel Sales Less: Cost of Goods Sold $ 7,891.38 -2,282.81 5,608.57 Golf Miscellaneous Parking Fees Plants Special Events Storage Tennis Tours Water Park Water, Sanitation and Sewage 2,106,201.40 104,700.48 1,610,296.65 13,456.67 8,070.04 1,650.00 25,738.96 314,532.14 1,481,151.00 1,235,917.00 9,143,826.09 Other Applied Penalties Bank Card Processing Fees Beach Music Festival Building Permits Bureau Dues Cash Over/Short Commissions $ 17,774.97 -72,688.62 89,944.86 20.00 1,472.55 -1,397.18 12,388.59 -3- JEKYLL ISLAND STATE PARK AUTHORITY SCHEDULE OF OTHER REVENUES RETAINED YEAR ENDED JUNE 30. 2000 EXHIBIT"C" Other Country Music Festival Coupon Income Donations Education Program Fireworks Food Service Gratuities Great Golden Easter Egg Hunt Holiday Activities Interest on Investments Liquor, Stamps and Licenses Room Rebates Sponsors Toumaments Vendor's Compensation on Sales Tax Collections Water Analysis $ 109,365.12 7,200.13 73,088.35 22,827.61 655.00 128,339.32 545.00 800.00 317,493.17 79,001.84 174.00 24,500.00 13,743.81 2,948.02 18,526.50 $ 846,723.04 $ 15,951,243.48 -4- JEKYLL ISLAND STATE PARK AUTHORITY RECONCILIATION OF SALARIES AND TRAVEL YEAR ENDED JUNE 30. 2000 EXHIBIT "0" Totals per Annual Supplement Accruals June 30, 1999 June 30, 2000 SALARIES TRAVEL $ 5,744,372.77 $ 38,067.73 -243,520.04 247,706.74 -366.14 $ 5,748,559.47 $ 37,701.59 -5- JEKYLL ISLAND STATE PARK AUTHORITY REPAYMENT SCHEDULE OF AMOUNTS OWED TO THE DEPARTMENT OF NATURAL RESOURCES JUNE 30, 2000 EXHffiIT "E" CHANGES IN REPAYMENT SCHEDULE Balance July 1, 1999 $11,664,676.00 Repayments During Fiscal Year 2000 State Appropriations -53,750.00 General Obligation Bond Proceeds and Interest -838,335.00 Balance June 30, 2000 $10,772,591.00 REPAYMENT SCHEDULE BY FISCAL YEAR 2001 2002 2003 2004 2005 Thereafter $ 840,190.00 842,120,00 843,570.00 844,913.00 846,482.00 6,555,316.00 $10,772,591.00 REPAYMENT OF GENERAL OBLIGATION BONDS During the fiscal year ended June 30, 1987, the General Assembly of Georgia authorized the issuance of not more than $4,600,000.00 in General Obligation Debt for the purpose of financing specific capital outlay proj ects for the Jekyll Island State Park Authority. Under terms ofthe funding agreement, the Authority is to repay the principal of$4,600,000.00 and interest of$616,884.00 to the State of Georgia through the Department of Natural Resources over a twenty year period in equal annual installments of $260,844.00 beginning on June 15, 1990. At June 30, 2000, the unpaid balance of bond proceeds for these projects was $2,347,596.00. During the fiscal year ended June 30, 1994, the General Assembly of Georgia authorized the issuance of an additional $7,500,000.00 in General Obligation Debt for construction of a nine hole golf course, improvements to the existing course and renovation of the convention center. Under terms ofthe funding agreement, the Authority is to repay the principal of$7,500,000.00 and interest of$4,574,752.00 to the State ofGeorgia through the Department ofNatural Resources over a twenty year period in annual installments beginning on June 15, 1994. At June 30, 2000, the unpaid balance of bond proceeds for these projects was $8,424,995.00. -6-