Audit report, Judges of the Probate Courts Retirement Fund of Georgia, year ended June 30, 2009

STATE OF GEORGIA
Sonny Perdue Governor
AUDIT REPORT JUDGES OF THE PROBATE COURTS RETIREMENT FUND OF GEORGIA
YEAR ENDED JUNE 30,2009
Prepared by State Accounting Office

JUDGES OF THE PROBATE COURTS RETIREMENT ]FUND OF GEORGIA

- TABLE OF CONTENTS -

- SECTION I FINANCIAL

&

Independent Auditor's Report on Basic Financial Statements Accompanied by

Required Supplementary Information

1

Basic Financial Statements
Statement of Fiduciary Net Assets Statement of Changes in Fiduciary Net Assets Notes to the Financial Statements

Required SupplementaryInformation

Schedule of Funding Progress

12

Schedule of Contributions fiom the Employer and Other Contributing Entities

13

- SECTION II REPORT ON INTERNAL CONTROL OVER FINANCIAL
=PORTING AND ON COMPLIANCE AND OTHER MATTERS BASED
ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN
ACCORDANCE WITH GOVERNMENTAUDITING STANDARDS

SECTION III - CURRENT YEAR FINDINGS AND QUESTIONEDCOSTS
Schedule of Findings and Questioned Costs

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- SECTIONI FINANCIAL

DEPARTMEONF ATUDITASND ACCOUNTS 270 Washington St. S.W. Suite 1-156 Atlanta, Georgia 30334
RUSSELWL . HINTON
STATE AUDITOR (404) 656-2174
February 5,2010
Honorable Sonny Perdue, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the Board of Comrnissioners.of the Judges of the Probate Courts Retirement Fund of Georgia
and Honorable Robert Carter, Secretary/Treasurer
INDEPENDENT AUDITOR'S REPORT ON BASIC FINANCIAL STATEMENTS ACCOMPANIED BY REQUIRED SUPPLEMENTARYINFORMATION
Ladies and Gentlemen:
We have audited the accompanying financial statements of the Judges of the Probate Courts Retirement Fund of Georgia, a part of the primary government of the State of Georgia, as of and for the year ended June 30, 2009, as listed in the table of contents. These financial statements are the responsibility of the Fund's management. Our responsibility is to express opinions on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the Judges of the Probate Courts Retirement Fund of Georgia, as of June 30, 2009, and the change in plan net assets available for benefits for the year then ended in conformity with accounting principles generally accepted in the United States of America.

In accordance with Government Auditing Standards, we have also issued a report dated February 5,2010, on our consideration of the Judges of the Probate Courts Retirement Fund of Georgia's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit.
The Judges of the Probate Courts Retirement Fund of Georgia has not presented the management's discussion and analysis that the Governmental Accounting Standards Board has determined is necessary to supplement, although not required to be part of, the basic financial statements.
The accompanying Schedule of Funding Progress and Schedule of Contributions from the Employer and Other Contributing Entities are not required parts of the basic financial statements but are supplementary information required by the Governmental Accounting Standards Board. We did not audit the information and express no opinion on it.
Respectfully submitted,

RWH: ps

~us!sell W. Hinton, CPA, CGFM State Auditor