Management report, Jekyll Island State Park Authority, an organizational unit of the state of Georgia, year ended June 30, 2001

JEKYLL ISLAND STATE PARK AUTHORITY MANAGEMENT REPORT -TABLEOFCONTENTS-

Page

LEITER OF TRANSMITfAL 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

5

E REPAYMENT SCHEDULE OF AMOUNTS OWED TO THE

DEPARTMENT OF NATURAL RESOURCES

6

RUSSELL W. HINTON
STATE AUDITOR
(404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Strect, S.w., Suitc 214 Atlanta, Gcorgia :\03:\4-K400
October 4,2001

Honorable Roy E. Barnes, Governor Members of the 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 ofour audit ofthe general purpose financial statements ofthe State ofGeorgia 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, 2001, 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 AuditAct 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, 2001. The particular information provided is enumerated in the Table of Contents.
This report is intended solely for the information and use ofmanagement 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,
,---........

RWH:gp

Ru sell W. Hinton State Auditor


SELECTED FINANCIAL INFORMATION


JEKYLL ISLAND STATE PARK AUTHORITY ANALYSIS OF CHANGES IN FUND BALANCE
BUDGET FUND YEAR ENDED JUNE 30, 2001
FUND BALANCE - JULY 1, 2000 Unreserved
ADDITIONS Excess of Funds Available over Expenditures Exhibit "B"
DEDUCTIONS Adjustment to Prior Year's Accounts Receivable Unreserved Fund Balance Carried Over from Prior Year as Funds Available
FUND BALANCE - JUNE 30, 2001
SUMMARY OF FUND BALANCE Unreserved Undesignated

EXHIBIT "A"

$ 4,538,481.28

$ 4,008,327.01

$

20,256.02

4,538,481.28

$ 4,558,737.30

$ 3,988,070.99

$ 3,988,070.99

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JEKYLL ISLAND STATE PARK AUTHORITY SCHEDULE OF FUNDS AVAILABLE AND EXPENDITURES
COMPARED TO BUDGET BUDGET FUND
YEAR ENDED JUNE 30, 2001

EXHIBIT "B"

FUNDS AVAILABLE REVENUES
Other Revenues Retained CARRY-OVER FROM PRIOR YEAR
Transfer from Unreserved Fund Balance

BUDGET

ACTUAL

VARIANCE FAVORABLE (UNFAVORABLE)

$ 16,795,478.01 $ 16,844,624.56 $

49,146.55

0.00

4,538,481.28

4,538,481.28

$ 16.795,478.01 $ 21,383,105.84 $ 4,587,627.83

EXPENDITURES
Personal Services Regular Operating Expenses Travel Motor Vehicle Purchases Equipment
,
Telecommunications Per Diem, Fees and Contracts Capital Outlay Debt Service

$ 7,808,860.51 $ 8,294,898.00 $

4,718,982.60

3,910,245.78

45,030.00

35,794.69

1,490.00

0.00

59,310.00

116,330.66

96,137.82

101,442.84

1,245,110.60

1,099,722.20

2,080,706.51

2,976,154.66

838,335.00

840,190.00

-486,037.49 808,736.82
9,235.31 1,490.00 -57,020.66 -5,305.02 145,388.40 -895,448.15 -1,855.00

$ 16,893,963.04 $ 17,374,778.83 $ _ _-4=80~,8:::..1~5~.7~9

Excess of Funds Available over Expenditures

$ __....-.9..8.,485.03 $ 4,008,327.01 $ 4,106,812.04


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JEKYLL ISLAND STATE PARK AUTHORITY SCHEDULE OF OTHER REVENUES RETAINED
YEAR ENDED JUNE 30, 2001

EXHIBIT "C"

Contracts Georgia State Financing and Investment Commission Project Number 1997-C Project Number 2000-B
Georgia Department of Industry, Trade and Tourism
Georgia Secretary of State
Hotel/Motel Tax
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
Sales and Services Alcoholic Beverage Sales Less: Cost of Goods Sold
Ambulance Services Annual Decal Sales Concession Sales
Less: Cost of Goods Sold
Day Camp Fire Protection Fees Food Sales
Less: Cost of Goods Sold
Fuel Sales Less: Cost of Goods Sold
Golf Miscellaneous Parking Fees Plants Special Events Storage Tennis Tours Water Park Water, Sanitation and Sewage
Other Advertising Applied Penalties Bank Card Processing Fees Beach Music Festival Bureau Dues

$ 427,067.33 706,708.60 $ 1,133,775.93
1,000.00
5,000.00 1,264,388.98

$

48,378.26

65,240.00

2,162,269.78

110.31

258,226.96

113,355.55

971,497.37

209,130.00

8,325.00

486,594.82

24,269.66

4,347,397.71

$ 345,549.31 -87,269.18 $ 258,280.13

$ 396,794.30
-241,204.28

28,152.83 178,340.00
155,590.02

$ 2,499,191.07
-894,735.86

13,697.00 336,790.65
1,604,455.21

$

8,582.51

-5,422.21

3,160.30

2,148,341.33 86,082.45
1,571,975.00 8,315.77 6,298.58 1,418.00
24,696.38 323,975.65 1,376,901.17 1,243,212.17


9,369,682.64

$

13,888.00

23,581.15

-78,857.74

79,548.07

938.00

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JEKYLL ISLAND STATE PARK AUTHORITY SCHEDULE OF OTHER REVENUES RETAINED
YEAR ENDED JUNE 30, 2001

EXHIBIT "C"

Other Cash Over/Short Commissions 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 Sponsors Tournaments Vendor's Compensation on Sales Tax Collections Water Analysis

$

42.93

10,655.90

10,247.39

23,467.50

7,528.07

23,127.59

225.00

196,142.87

200.00

3,376.18

273,536.59

81,761.54

11,200.00

21,965.28

3,185.23

17,619.75 $ 723,379.30

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JEKYLL ISLAND STATE PARK AUTHORITY RECONCILIATION OF SALARIES YEAR ENDED JUNE 30, 2001
Total per Annual Supplement
Accruals June 30, 2000 June 30, 2001

EXHIBIT "0"
$ 6,362,256.50
-247,706.74 273,697.30
$ 6,388,247.06

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JEKYLL ISLAND STATE PARK AUTHORITY REPAYMENT SCHEDULE OF AMOUNTS OWED TO THE
DEPARTMENT OF NATURAL RESOURCES JUNE 30, 2001

EXHIBIT "E"

CHANGES IN REPAYMENT SCHEDULE

Balance July 1, 2000



Repayments During Fiscal Year 2001 General Obligation Bond Proceeds and Interest

$10,772,591.00 -840,190.00

Balance June 30, 2001

$ 9,932,401.00

REPAYMENT SCHEDULE BY FISCAL YEAR

2002 2003 2004 2005 2006 Thereafter

$ 842,120.00 843,570.00 844,913.00 846,482.00 848,166.00
5,707,150.00

$ 2,932,4Q1..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 projects for the Jekyll Island State Park Authority. Under tenus 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 ofNatural Resources over a twenty year period in equal annual installments of $260,844.00 beginning on June 15, 1990. At June 30, 2001, the unpaid balance ofbond proceeds for these projects was $2,086,752.00.

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 tenus 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, 2001, the unpaid balance ofbond proceeds for these projects was $7,845,649.00.

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