STATE OF GEORGIA 
DEPARTMENT OF AUDITS AND ACCOUNTS 
Russell W. Hinton State Auditor 
MANAGEMENT REPORT LAKE LANIER ISLANDS DEVELOPMENT AUTHORITY A COMPONENT UNIT OF THE STATE OF GEORGIA 
YEAR ENDED JUNE 30, 2004 
 
 LAKE LANIER ISLANDS DEVELOPMENT AUTHORITY MANAGEMENT REPORT -TABLE OF CONTENTS- 
 
LETTER OF TRAN SMITTAL 
 
SELECTED FINANCIAL INFORMATION 
 
EXHIBITS 
 
A SCHEDULE OF NET ASSETS 
 
1 
 
ENTERPRISE FUND 
 
B SCHEDULE OF REVENUES, EXPENSES AND 
 
CHANGES IN FUND NET ASSETS 
 
ENTERPRISE FUND 
 
2 
 
 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 4, 2005 
Honorable Sonny Perdue, Governor Members of the General Assembly of Georgia Members of the Lake Lanier Islands Development Authority 
and Honorable Frank Lee Smith, Executive Director 
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 Lake Lanier Islands Development Authority. Accordingly, the financial statements and compliance activities of the Lake Lanier Islands Development 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 Lake Lanier Islands Development 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, 
 
~,.,  OSLto~ 
Russell W. Hinton State Auditor 
 
RWH:ldp 
 
 SELECTED FINANCIAL INFORMATION 
 
 LAKE LANIER ISLANDS DEVELOPMENT AUTHORITY SCHEDULE OF NET ASSETS ENTERPRISE FUND JUNE 30, 2004 
 
EXHIBIT"A" 
 
ASSETS 
Current Assets: Cash and Cash Equivalents 
Noncurrent Assets: Capital Assets Construction In Progress 
Total Assets 
 
$ 3,487,861.83 
6,331,059.51 $ 9,818,921.34 
 
LIABILITIES 
Current Liabilities: Accounts Payable 
Noncurrent Liabilities: Compensated Absences 
Total Liabilities 
 
$ 
 
92,007.96 
 
22,600.89 
 
$ 114,608.85 
 
NET ASSETS 
Invested in Capital Assets, Net of Related Debt Unrestricted 
 
$ 6,331,059.51 3,373,252.98 
 
$ 9,704,312.49 
 
-1- 
 
 LAKE LANIER ISLANDS DEVELOPMENT AUTHORITY SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS ENTERPRISE FUND YEAR ENDED JUNE 30, 2004 
 
EXHIBIT"B" 
 
OPERATING REVENUES Rents and Royalties Taxes Other Total Operating Revenues 
OPERATING EXPENSES Personal Services Services and Supplies Total Operating Expenses Operating Income 
NONOPERATING REVENUES(EXPENSES) Interest and Other Investment Income Other Payback Accumulation Georgia Department of Natural Resources Total Nonoperating Revenues(Expenses) Changes in Net Assets 
NET ASSETS - JULY 1 
NET ASSETS -JUNE 30 
 
$ 3,200,000.00 515,970.72 85,812.42 
$ 3,801,783.14 
$ 164,422.65 3,353,380.89 
$ 3,517,803.54 $ 283,979.60 
$ 43,485.53 
(1,331,931.00) $ (1,288,445.47) $ (1,004,465.87) 
10,708,778.36 
$ 9,704,312.49 
 
-2 -