STATE OF GEORGIA 
DEPARTMENT OF AUDITS AND ACCOUNTS 
Russell W. Hinton State Auditor 
MANAGEMENT REPORT JEKYLL ISLAND STATE PARK AUTHORITY A COMPONENT UNIT OF THE STATE OF GEORGIA 
YEAR ENDED JUNE 30, 2004 
 
 JEKYLL ISLAND STATE PARK AUTHORITY MANAGEMENT REPORT -TABLE OF CONTENTS- 
 
LETTER OF TRANSMITTAL 
 
SECTION I 
 
SELECTED FINANCIAL INFORMATION 
 
EXHIBITS 
 
A SCHEDULE OF NET ASSETS 
 
ENTERPRISE FUND 
 
1 
 
B SCHEDULE OF REVENUES, EXPENSES AND CHANGES 
 
IN FUND NET ASSETS 
 
ENTERPRISE FUND 
 
2 
 
C RECONCILIATION OF SALARIES 
 
3 
 
D RECONCILIATION OF PER DIEM AND FEES 
 
4 
 
E REPAYMENT SCHEDULE OF AMOUNTS OWED TO THE 
 
DEPARTMENT OF NATURAL RESOURCES 
 
5 
 
SECTION II AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS 
 
 DEPARTMENT OF AUDITS AND ACCOUNTS 
 
254 Washington Street, S.W., Suite 214 
 
w. RUSSELL 
 
HINTON 
 
STATE AUDITOR (404) 656-2174 
 
Atlanta, Georgia 30334-8400 
 
February 11, 2005 
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 Statewide Single Audit Report pursuant to the Single Audit Act Amendments, as of and for the year ended June 30, 2004, 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, 2004. 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 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, 
~ul<ti~ Russell W. Hinton State Auditor 
 
RWH:ps 
 
 SECTION I SELECTED FINANCIAL INFORMATION 
 
 JEKYLL ISLAND STATE PARK AUTHORITY SCHEDULE OF NET ASSETS ENTERPRISE FUND JUNE 30, 2004 
 
EXHIBIT"A" 
 
ASSETS 
Current Assets: Cash and Cash Equivalents Accounts Receivable Inventories Prepaid Items 
Noncurrent Assets: Capital Assets Land Buildings Improvements Other Than Buildings Infrastructure Machinery and Equipment Construction in Progress Accumulated Depreciation 
Total Assets 
LIABILITIES 
Current Liabilities: Accounts Payable and Other Accruals Advances From Primary Government Compensated Absences Payable SalariesNVithholdings Payable Deferred Revenue 
Noncurrent Liabilities: Advances From Primary Government Compensated Absences Payable 
Total Liabilities 
NET ASSETS 
Invested in Capital Assets, Net of Related Debt Unrestricted 
Total Net Assets 
 
$ 3,621,339.82 2,477,122.07 376,974.46 17,955.49 
146,663.03 40,294,399.74 
9,736,864.77 12,107,387.23 
3,494,947.86 1,272,608.28 -17,298,504.45 
$ 56,247,758.30 
$ 1,008,453.88 688,704.00 185,924.36 451,162.53 492,563.02 
5,364,698.00 366,905.28 
$ 8,558,411.07 
$ 43,700,964.46 3,988,382.77 
$ 47,689,347.23 
 
-1- 
 
 JEKYLL ISLAND STATE PARK AUTHORITY 
 
EXHIBIT"B" 
 
SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 
 
ENTERPRISE FUND 
 
YEAR ENDED JUNE 30, 2004 
 
OPERATING REVENUES 
Grants and Contributions Rents and Royalties Sales and Services Taxes Other 
Total Operating Revenues 
OPERATING EXPENSES 
Personal Services Services and Supplies Depreciation Other 
Total Operating Expenses 
Operating Loss 
NONOPERATING REVENUES (EXPENSES) 
Interest Income Hotel/Motel Tax Interest Expense Other 
Total Nonoperating Revenues (Expenses) 
Net Loss Before Contributions 
CAPITAL CONTRIBUTIONS 
Changes in Net Assets 
NET ASSETS - JULY 1 
NET ASSETS - JUNE 30 
 
$ 
 
62,312.21 
 
5,714,530.28 
 
9,310,289.13 
 
68,892.85 
 
175,703.63 
 
$ 15,331,728.10 
 
$ 8,177,340.02 6,142,533.31 1,413,203.90 498,549.08 
$ 16,231,626.31 
$ -899,898.21 
 
$ 
 
42,014.59 
 
1,284,251.54 
 
-287,057.27 
 
-277,612.25 
 
$ 761,596.61 
 
$ -138,301.60 
 
858,040.94 
 
$ 719,739.34 
 
46,969,607.89 
 
$ 47,689,347.23 
 
-2 - 
 
 JEKYLL ISLAND STATE PARK AUTHORITY RECONCILIATION OF SALARIES YEAR ENDED JUNE 30, 2004 
 
EXHIBIT"C" 
 
Total per Annual Supplement 
Accruals Salaries Payable June 30, 2003 June 30, 2004 
Compensated Absences Payable June 30, 2003 June 30, 2004 
Adjustments Prior Year Accruals 
 
$ 
 
6,492,928.02 
 
-371,606.33 366,461.01 
 
-527,890.76 552,829.64 
 
38,714.58 
 
$ 
 
6,551,436.16 
 
-3- 
 
 JEKYLL ISLAND STATE PARK AUTHORITY RECONCILIATION OF PER DIEM AND FEES 
YEAR ENDED JUNE 30, 2004 
 
EXHIBIT"D" 
 
Totals per Annual Supplement 
 
1YPE PAYMENT 
 
FEE AMOUNT 
 
EXPENSE AMOUNT 
 
TOTAL 
 
$ 83,169.80 $ 343.55 $ 83,513.35 
 
Adjustment 
 
Robert Charles Lesser and Company 
 
Fee 
 
4,795.32 
 
4,795.32 
 
$ 87,965.12 $ 343.55 $ 88,308.67 
 
-4- 
 
 JEKYLL ISLAND STATE PARK AUTHORITY REPAYMENT SCHEDULE OF AMOUNTS OWED TO THE 
DEPARTMENT OF NATURAL RESOURCES YEAR ENDED JUNE 30, 2004 
 
EXHIBIT"E" 
 
Changes in Repayment Schedule Balance July 1, 2003 
* Principal Repayments During Fiscal Year 2004 Balance June 30, 2004 
 
$ 6,718,004.00 -664,602.00 
$ 6,053,402.00 
 
Repayment Schedule By Fiscal Year 
* 2005 2006 2007 2008 2009 Thereafter 
 
Total 
 
Principal 
 
Interest 
 
$ 946,482.00 $ 688,704.00 $ 
 
848,166.00 
 
614,543.00 
 
850,060.00 
 
642,336.00 
 
851,829.00 
 
671,866.00 
 
853,989.00 
 
703,785.00 
 
2,951,272.00 
 
2,732,168.00 
 
257,778.00 233,623.00 207,724.00 179,963.00 150,204.00 219,104.00 
 
$ 7,301,798.00 $ 6,053,402.00 $ 1,248,396.00 
 
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, 2004, the unpaid balance of bonds proceeds for these projects was $1,050,000.00. 
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 renovations 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 beginning on June 15, 1994. At June 30, 2004, the unpaid balance of bonds proceeds for these projects was $5,003,402.00. 
* Principal payments of $664,602.00 due in fiscal year 2004 and $688,704.00 due in fiscal year 2005 includes the original bond payment schedule amounts of $564,602.00 and $588,704.00, respectively, plus an additional $100,000.00 as required by the General Assembly of Georgia for fiscal years 2004 and 2005. It is unknown at this time if the General Assembly will require more early payments of principal in the years following fiscal year 2005. 
 
-5- 
 
 SECTION II AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS 
 
 JEKYLL ISLAND STATE PARK AUTHORITY AUDITEE'S RESPONSE 
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2004 
 
PRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS 
 
FINDING CONTROL NUMBER AND STATUS 
 
FS-910-03-01 
 
Previously Reported Corrective Action Implemented