Management report, Jekyll Island State Park Authority, an organizational unit of the state of Georgia, year ended June 30, 2002

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JEKYLL ISLAND STATE PARK AUTHORITY MANAGEMENT REPORT -TABLE OF CONTENTS-

LETTER OF TRANSMITTAL

Page

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

DEPARTMENT OF AUDITS AND ACCOUNTS

254 Washington Street, S.W., Suite 214

w. RUSSELL

HINTON

STATE AUDITOR

(404) 656-2174

Atlanta, Georgia 30334-8400

January 13, 2003
Honorable Sonny Perdue, 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 of our audit of the basic financial statements of the State of Georgia presented in the State of Georgia Comprehensive Annual Financial Report and the issuance of a State Single Audit Report pursuant to the Single Audit Act Amendments, as of and for the year ended June 30, 2002, 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 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 controls as required by the Single Audit Act Amendments of 1996.
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, 2002. 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 State of Georgia
SU:;~$ and members of the Authority and is not intended to be and should not be used by anyone other
than these specified parties.
Respecttully

RWH:ras

SELECTED FINANCIAL INFORMATION

JEKYLL ISLAND STATE PARK AUTHORITY ANALYSIS OF CHANGES IN FUND BALANCE
BUDGET FUND YEAR ENDED JUNE 30, 2002
FUND BALANCE - JULY 1, 2001 Unreserved
ADDITIONS Excess of Funds Available over Expenditures Exhibit"B"
DEDUCTIONS Unreserved Fund Balance Carried Over from Prior Year as Funds Available

EXHIBIT"A"
$ 3,988,070 99 $ 4,262,857.17 $ 3,988,070.99

FUND BALANCE - JUNE 30, 2002
SUMMARY OF FUND BALANCE Unreserved Undesignated

$ 4,262,857.17 $ 4,262,857.17

- 1-

JEKYLL ISLAND STATE PARK AUTHORITY SCHEDULE OF FUNDS AVAILABLE AND EXPENDITURES
COMPARED TO BUDGET BUDGET FUND
YEAR ENDED JUNE 30, 2002

EXHIBIT "B"

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

BUDGET

ACTUAL

VARIANCEFAVORABLE (UNFAVORABLE)

$ 15,957,013.54 $ 18,456,546.28 $

2,499,532.74

0.00

3,988,070 99

3,988,070.99

$ 15,957,013.54 $ 22,444,617 27 $ 6,487,603.73

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

$ 8,044,272.57 $ 7,829,903 87 $

4,892, 181.59 4,271,879.72

64,468.99

45,221.81

231,295.00

201,859 86

106,382.51

94,807.00

193,66023

162,015.95

182,827.72

213,658.24

1,335,054.79 4,520,293.65

842,120.00

842,120.00

214,368.70 620,30187
19,247.18 29,435.14 11,575.51 31,644.28 -30,830.52 -3,185,23886
0.00

$ 15,892,263.40 $ 18,181,760 10 $ -2,289,496. 70

Excess of Funds Available over Expenditures

$

64,750.14 $ 4,262,857.17 $

4,198,107.03

-2-

JEKYLL ISLAND STATE PARK AUTHORITY SCHEDULE OF OTHER REVENUES RETAINED
YEAR ENDED JUNE 30, 2002

EXHIBIT "C"

Intergovemmental Contracts Georgia State Financing and Investment Commission Project Number 1997-C Project Number 2000-B Project Number 2001-B Georgia Department of Industry, Trade and Tourism

$

248 74

1,164,821.22

2,500,000.00 $

3,665,069 96 1,000.00

Hotel/Motel Tax

1,390,335.70

Rental Income Bicycle Rentals Building Rentals Business Leases Convention Center Rentals Equipment Rentals Golf Cart Rentals Locker Rentals Lot Rentals Picnic Areas Site Rentals Soccer Complex Rentals

$ 60,947.43
71,279.97 2,244,165.39
249,138.03 104,073.10 771,598.04
61,059.75 209,130.00
6,695.00 545,288.76
8,770.75

4,332,146.22

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 Parking Fees Plants Repairs Shuttle Services Special Events Storage Tennis ' Tours Turtle Patrol Water Park Water, Sanitation and Sewage

$ 309,488.62

-85,883.74 $ 223,604 88

26,487.16

173,418.05

$ 433,146 50

-269,918.14

163,228.36

14,340.00

54,944.25

$ 2,328,008.98

-798,489.78 1,529,519.20

$

8,448 38

-1,13323

7,315.15

1,726,628.24

1,495,962.08

15,001.95

1,697.07

1,959.76

50.00

58800

24,829.49

294,888.43

40,130.29

1,340,008 17

1,217,153 98

8,351,754.51

-3-

JEKYLL ISLAND STATE PARK AUTHORITY SCHEDULE OF OTHER REVENUES RETAINED
YEAR ENDED JUNE 30, 2002

EXHIBIT"C"

Other Advertising Applied Penalties Bank Card Processing Fees Beach Music Festival Bureau Dues Cash Over/Short Commissions Coupon Income Donations Education Program Fireworks Food Service Gratuities Gift Certifcates Redeemed Gift Certificates Issued Golden Easter Egg Hunt Holiday Activities Interest on Investments Liquor, Stamps and Licenses Miscellenous Room Rebates Sponsors Tournaments Vendor's Compensation on Sales Tax Collections Water Analysis

$ 24,901.00 13,194 58 -66,077.81 70,588.67 3,354.00 281.62 6,854.21 24,260 00 4,493.60 8,978.76 239.00
172,994.50 -424.18 325.00 512.50 37.73
105,721.57 76,792.07
112,60984 2,675.00
23,466.60 107,514.61
3,048.02 19,899.00 $ _ _71_6~,2_39_._89_

$ 18,456,546.28

- 4-

------------ ----------

JEKYLL ISLAND STATE PARK AUTHORITY RECONCILIATION OF SALARIES YEAR ENDED JUNE 30, 2002

EXHIBIT"D"

Total per Annual Supplement
Accruals June 30, 2001 June 30, 2002

$ 6,238, 158 62
-273,697 .30 2911763.97 $ 6,256,225.29

-5-

1-----------

JEKYLL ISLAND STATE PARK AUTHORITY REPAYMENT SCHEDULE OF AMOUNTS OWED TO THE
DEPARTMENT OF NATURAL RESOURCES JUNE 30, 2002

EXHIBIT"E"

CHANGES IN REPAYMENT SCHEDULE Balance July 1, 2001
Repayments During Fiscal Year 2002 General Obligation Bond Proceeds and Interest
Balance June 30, 2002

$ 9,932,401.00
-842, 120.00 $ 9,090,281.00

REPAYMENT SCHEDULE BY FISCAL YEAR
2003 2004 2005 2006 2007 Thereafter

$ 843,571.00 844,913.00 846,482.00 848,166 00 850,060.00
4,857,089.00
$ 9,090,281.00

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 Jekyll Island State Park Authority. Under terms of the 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, 2002, the unpaid balance of bond proceeds for these projects was $1,825,908.00.
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 of the funding agreement, the Authority is to repay the principal of $7,500,000.00 and interest of $4,574,752.00 to the State of Georgia through the Department of Natural Resources over a twenty year period in annual installments beginning on June 15, 1994. At June 30, 2002, the unpaid balance of bond proceeds for these projects was $7,264,373.00.
-6-

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