Roddenbery Memorial Library, Cairo, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2005

RODDENBERY MEMORIAL LIBRARY
CAIRO, GEORGIA REPORT ON AUDIT OF THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2005
STATE OF GEORGIA
DEPARTMENT OF AUDITS AND ACCOUNTS
Russell W. Hinton State Auditor

RODDENBERY MEMORIAL LIBRARY - TABLE OF CONTENTS -

Page

FINANCIAL

INDEPENDENT AUDITOR'S COMBINED REPORT ON BASIC FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION

EXHIBITS

BASIC FINANCIAL STATEMENTS

DISTRICT-WIDE FINANCIAL STATEMENTS

A

STATEMENT OF NET ASSETS

1

B

STATEMENT OF ACTIVITIES

2

FUND FINANCIAL STATEMENTS

C

BALANCE SHEET

GOVERNMENTAL FUNDS

3

D

RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET

TO THE STATEMENT OF NET ASSETS

4

E

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES

IN FUND BALANCES

GOVERNMENTAL FUNDS

5

F

RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT

OF REVENUES, EXPENDITURES AND CHANGES IN FUND

BALANCES TO THE STATEMENT OF ACTIVITIES

7

G

NOTES TO THE BASIC FINANCIAL STATEMENTS

8

SCHEDULES

REQUIRED SUPPLEMENTARY INFORMATION

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES

IN FUND BALANCES - BUDGET AND ACTUAL

GENERAL FUND

17

SUPPLEMENTARY INFORMATION

SCHEDULES OF REVENUE

2

STATE

18

3

FEDERAL

19

4

LOCAL

20

5 SCHEDULE OF SALARIES AND TRAVEL

21

FINANCIAL

Russell W. Hinton
STATE AUDITOR (404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
270 Washington Street, S.W., Suite 1-156 Atlanta, Georgia 30334-8400
July 11, 2006

Honorable Sonny Perdue, Governor Members ofthe General Assembly Members of the Board of Regents of the University System of Georgia
and Director and Members ofthe Roddenbery Memorial Library Board
INDEPENDENT AUDITOR'S COMBINED REPORT ON BASIC FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION
Ladies and Gentlemen:
We have audited the accompanying financial statements of the governmental activities and each major fund (Exhibits A through G) ofthe Roddenbery Memorial Library as ofand for the year ended June 30, 2005, which collectively comprise the Library's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the Roddenbery Memorial Library'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 ofAmerica. 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 examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes 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 opinions.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position ofthe governmental activities and each major fund ofthe Roddenbery Memorial Library, as of June 30, 2005, and the respective changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America.

2005ARL-41

The Roddenbery Memorial Library has not presented Management's Discussion and Analysis that accounting principles generally accepted in the United States has determined is necessary to supplement, although not to be part of, the basic financial statements.
The Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual, as presented on page 17 is not a required part of the basic financial statements but is supplementary information required by the accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods ofmeasurement and presentation ofthe required supplementary information. However, we did not audit the information and express no opinion on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Roddenbery Memorial Library's basic financial statements. The accompanying supplementary information which consist ofSchedules 2 through 5, are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit ofthe basic financial statements, and in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.
A copy of this report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated section 50-6-24.
Respectfully submitted,
~~~~ Russell W. Hinton State Auditor
RWH:as 2005ARL-41

RODDENBERY MEMORIAL LIBRARY

RODDENBERY MEMORIAL LIBRARY STATEMENT OF NET ASSETS JUNE 30, 2005
ASSETS Cash and Cash Equivalents Investments Accounts Receivable
Local Inventories Capital Assets
Land Land Improvements Buildings and Building Improvements Equipment Library Collections Less: Accumulated Depreciation
Total Assets
LIABILITIES Accounts Payable
NET ASSETS Invested in Capital Assets, Net of Related Debt Restricted for
Permanent Funds Unrestricted
Total Net Assets
Total Liabilities and Net Assets

EXHIBIT"A"

GOVERNMENTAL ACTIVITIES

$

59,782

193,499

28,922 2,487

40,000 40,000 1,369,312 88,675 1,230,039 -1 452 967

$ ===1=5=9=9=74=9=

$

10 983

$

1,315,059

13,737 259 970

$

1,588,766

$ =====1==5=9=9=74=9=

The notes to the basic financial statements are an integral part of this statement. -1-

RODDENBERY MEMORIAL LIBRARY STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2005

EXHIBIT"B"

EXPENSES

PROGRAM REVENUES

OPERATING

CHARGES FOR

GRANTS AND

SERVICES

CONTRIBUTIONS

NET (EXPENSES) REVENUES
AND CHANGES IN NET ASSETS

GOVERNMENTAL ACTIVITIES

Current Services Public Services Technical Services Support Services Maintenance and Operations Information Technology
Total Governmental Activities
General Revenues Allotments from Participating Governments Investment Earnings Miscellaneous

$ 249,067 $ 1,917
290,271 149,240 49751
$===7=4=0,=24=6= $

21,138 $ 21138 $

165,838 $ 16,766

-62,091 -1,917
-290,271 -132,474
-49 751

182 604 $ _ _ __;-5;;.;c3-"'6,'-'-504.c...;_

$

462,568

10,832

21 601

Total General Revenues

$ _ _ _ _4.:.;:9c:_5i.:a00;:;..1:....

Change in Net Assets

$

-41,503

Net Assets - Beginning of Year

1,630,269

Net Assets - End of Year

$ ===1=5=8=81=76=6=

The notes to the basic financial statements are an integral part of this statement. -2 -

RODDENBERY MEMORIAL LIBRARY BALANCE SHEET
GOVERNMENTAL FUNDS JUNE 30, 2005

EXHIBIT"C"

ASSETS Cash and Cash Equivalents Investments Accounts Receivable, Net
Local Inventories
Total Assets
LIABILITIES AND FUND BALANCES LIABILITIES
Accounts Payable FUND BALANCES
Reserved for: Permanent Funds
Unreserved Undesignated Reported in: General Fund Permanent Funds Total Fund Balances
Total Liabilities and Fund Balances

GENERAL FUND

PERMANENT FUNDS

TOTAL

$

59,687 $

175,428

28,922 2 487

95 $ 18,071

59,782 193,499
28,922 2 487

$

266,524 $

18 166 $ ===2=8=4 6=90=

$

10 983

$

10 983

$

$

255,541

$

255 541 $

13,737 $

13,737

4429 18 166 $

255,541 4 429
273 707

$

266,524 $

18 166 $ ==2=8=4=6=90=

The notes to the basic financial statements are an integral part of this statement. -3-

RODDENBERY MEMORIAL LIBRARY RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET
TO THE STATEMENT OF NET ASSETS JUNE 30, 2005

EXHIBIT"D"

Total Fund Balances - Governmental Funds (Exhibit "C")

$

Amounts reported for Governmental Activities in the Statement of Net Assets are different because:

Capital Assets used in Governmental Activities are not financial resources and therefore are not reported in the funds. These assets consist of:

Land Land Improvements Buildings Equipment Library Collections Accumulated Depreciation
Total Capital Assets

$ 40,000 40,000
1,369,312 88,675
1,230,039 -1,452,967

273,707 1,315,059

Net Assets of Governmental Activities (Exhibit "A")

$ ==1=,5=8=8=7,=66===

The notes to the basic financial statements are an integral part of this statement. -4-

RODDENBERY MEMORIAL LIBRARY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2005

EXHIBIT"E"

REVENUES
Local Funds State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous
Total Revenues
EXPENDITURES
Current Public Services Technical Services Support Services Maintenance and Operations Information Technology
Total Expenditures
Net Change in Fund Balance
Fund Balance - Beginning
Fund Balance - Ending

GENERAL FUND

PERMANENT FUNDS

TOTAL

$ 462,568 181,754 850 21,138 9,810 $ 21 601

$

697,721 $

$ 1,022 1,022 $

462,568 181,754
850 21,138 10,832 21 601
698,743

$

246,373

1,917

290,040 $

144,104

49 751

$

732,185 $

$

-34,464 $

290,005

$ 231
231 $ 791 $ 17 375

246,373 1,917
290,271 144,104 49751
732,416
-33,673
307,380

$

255,541 $

18 166 $===2=73.,.,7=0=7=

The notes to the basic financial statements are an integral part of this statement. -5-

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RODDENBERY MEMORIAL LIBRARY RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF
REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES JUNE 30, 2005

EXHIBIT "F"

Total Net Change in Fund Balance - Governmental Funds (Exhibit "E")

Amounts reported for Governmental Activities in the Statement of Activities are different because:

Capital Outlays are reported as expenditures in Governmental Funds. However, in the Statement of Activities, the cost of Capital Assets is allocated over their estimated useful lives as depreciation expense. In the current period, these amounts are:

Capital Outlay

$

Depreciation Expense

Excess of Depreciation Expense over Capital Outlay

$
87,731 -95,561

-33,673 -7 830

Change in Net Assets of Governmental Activities (Exhibit "B")

$ ==-=4=1=50=3=

The notes to the basic financial statements are an integral part of this statement. -7-

RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2005

EXHIBIT "G"

Note 1: DESCRIPTION OF LIBRARY AND REPORTING ENTITY
REPORTING ENTITY
The Roddenbery Memorial Library (Library) operates pursuant to Official Code of Georgia Annotated Sections 20-5-40 through 20-5-59 to provide public library services with costs shared by participating local governmental agencies and grants from the State of Georgia.
The Library Board consists of three members; one member appointed by the City of Cairo, one member appointed by the Grady County Board ofCommissioners and one member appointed by the Grady County Board of Education. The Library Board is without authority to determine the amount of its funding, except by submission of budget requests to local governmental units from which the Library receives support and to the State of Georgia for State and Federal flow through funding. Membership in the Library and participation in library services is at the discretion of each participating governmental agency. The Library Board has the power to designate management, the power to retain unreserved fund balances oflocal and other funds for continued operations and is the lowest level of oversight responsibility for the Library's operations. The Roddenbery Memorial Library is therefore determined to be a joint venture.
Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION
The Library's basic financial statements are collectively comprised of the Library-wide financial statements, fund financial statements and notes to the basic financial statements of the Roddenbery Memorial Library.
Library-wide Statements: The Statement ofNet Assets and the Statement ofActivities display information about the financial activities of the overall Library. Eliminations have been made to minimize the double counting of internal activities. Governmental activities generally are financed through intergovernmental revenues and other nonexchange transactions.
The Statement of Activities presents a comparison between direct expenses and program revenues for each function of the Library's governmental activities.
Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Indirect expenses (expenses of the Library related to the administration and support of the Library's programs, such as office and maintenance personnel and accounting) are not allocated to programs.
Program revenues include (a) charges paid by the recipients of goods or services offered by the programs and (b) grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Revenues that are not classified as program revenues are presented as general revenues.
-8-

RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2005

EXHIBIT "G"

Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Fund Financial Statements: The fund financial statements provide information about the Library's funds. Eliminations have been made to minimize the double counting of internal activities. The emphasis of fund financial statements is on major governmental funds.
The Library reports the following major governmental funds:
General Fund is the Library's primary operating fund. It accounts for all financial resources of the Library, except those resources required to be accounted for in another fund.
Permanent Funds: Lilla Belle Roddenbery/Harris Jefferson Memorial Fund - the fund used to account for an endowment for which the corpus is to be invested and preserved intact with the resultant income to be used to purchase books and material for the Library collection.
Edward A. Wight Memorial Fund-the fund used to account for an endowment of which the corpus is to be invested and preserved intact with the resultant income to be used to maintain a garden or patio area designated to the memory of Edward A. Wight.
BASIS OF ACCOUNTING
The basis of accounting determines when transactions are reported on the financial statements. The Library-wide governmental financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place. Nonexchange transactions, in which the Library gives (or receives) value without directly receiving (or giving) equal value in exchange, include grants and donations. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied.
The Library uses funds to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts.
Governmental funds are reported using the current financial resources measurement focus and the modified accrual basis ofaccounting. Under this method, revenues are recognized when measurable and available. The Library considers all revenues reported in the governmental funds to be available if they are collected within sixty days after year-end. Interest is considered to be susceptible to accrual. Expenditures are recorded when the related fund liability is incurred. Capital asset acquisitions are reported as expenditures in governmental funds.

-9-

RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2005

EXHIBIT "G"

Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Library funds certain programs by a combination of specific cost-reimbursement grants, categorical grants, and general revenues. Thus, when program costs are incurred, there are both restricted and unrestricted net assets available to finance the program. It is the Library's policy to first apply grant resources to such programs, followed by cost-reimbursement grants, then general revenues.
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash equivalents consist ofcash on hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition in authorized financial institutions. Georgia Laws OCGA 45-8-14 authorize the Library to deposit its funds in one or more solvent banks or insured Federal savings and loan associations.
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Library in nonparticipating interest-earning contracts (such as certificates ofdeposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase of one year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year and equity investments are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Library to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following:
(1) Obligations issued by the State of Georgia or by other states,
(2) Obligations issued by the United States government,
(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,
(4) Obligations of any corporation of the United States government,
(5) Prime banker's acceptances,
(6) The Local Government Investment Pool administered by the State ofGeorgia, Office of Treasury and Fiscal Services,
(7) Repurchase agreements, and

- 10 -

RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2005

EXHIBIT "G"

Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(8) Obligations of other political subdivisions of the State of Georgia.

RECEIVABLES

Receivables consist ofamounts due from grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the basic financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables.

CAPITAL ASSETS

Capital assets purchased, including capital outlay costs, are recorded as expenditures in the fund financial statements at the time ofpurchase. On the Library-wide financial statements, all purchased capital assets are valued at cost where historical records are available and at estimated historical cost based on appraisals or deflated current replacement cost where no historical records exist. Donated capital assets are recorded at estimated fair market value on the date donated. Disposals are deleted at depreciated recorded cost. The cost of normal maintenance and repairs that do not add to the value of assets or materially extend the useful lives of the assets is not capitalized. Depreciation is computed using the straight-line method.

Capitalization thresholds and estimated useful lives of capital assets reported in the Library-wide statements are as follows:

Capitalization Policy

Estimated Useful Life

Land Land Improvements Buildings and Improvements Equipment Library Collections

$

5,000

NIA

$

5,000 10 to 25 years

$

5,000 20 to 60 years

$

5,000 4 to 25 years

$

5,000

10 years

Depreciation is used to allocate the actual or estimated historical cost of all capital assets over estimated useful lives.

Note 3: DEPOSITS AND INVESTMENTS

COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face

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RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2005

EXHIBIT"G"

Note 3: DEPOSITS AND INVESTMENTS
value of such surety bond and the market value of securities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. Ifa depository elects the pooled method (OCGA 45-8-13.1) the aggregate ofthe market value ofthe securities pledged to secure a pool ofpublic funds shall be not less than 110 percent ofthe daily pool balance.
Acceptable security for deposits consists of any one of or any combination of the following:
(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia,
(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and
(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.
CATEGORIZATION OF DEPOSITS At June 30, 2005, the bank balances were $95,912. The bank balances were entirely covered by Federal depository insurance.
CATEGORIZATION OF INVESTMENTS At June 30, 2005, the carrying value of the Library's total investments was $178,498 which is materially the same as fair value. The investment consisted entirely of funds invested in two Investment Pools administered by the Community Foundation of Southwest Georgia, Incorporated, which are not required to be categorized since the Library did not own any specific identifiable

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RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2005

EXHIBIT "G"

Note 3: DEPOSITS AND INVESTMENTS

securities in the pools. The investment policy ofthe Community Foundation ofSouthwest Georgia, Incorporated for the two Investment Pools (Fixed Income Investment Portfolio and Balanced Growth/Income Investment Portfolio) does not provide for investment in derivatives or similar investments. A description ofthe Fixed Income Investment Portfolio and Balanced Growth/Income Investment Portfolio is as follows:

The Fixed Income Investment Pool consists of cash equivalents and money market investments at FDIC insured banks. The Balanced Growth/Income Investment Portfolio consists of cash equivalents, bonds, mutual funds and other equity type investments. The pool distributes earnings on a monthly basis. For its services, the Community Foundation of Southwest Georgia, Incorporated, charges a management fee of 1.25% annually.

The Community Foundation of Southwest Georgia, Incorporated, is established as a public charity that is exempt from Federal and state income tax as described in the Internal Revenue Code Section 501(3)c. The Community Foundation ofSouthwest Georgia, Incorporated is not registered with the Securities and Exchange Commission because it is not an investment company. Participation in the Community Foundation of Southwest Georgia, Incorporated, is voluntary and deposits consist of funds from nonprofit organizations, individuals, businesses, civic clubs and other donors who wish to contribute funds to a charitable organization.

Note 4: CAPITAL ASSETS

The following is a summary of changes in the Capital Assets during the fiscal year:

Balances July 1, 2004

Increases

Balances Decreases June 30, 2005

Governmental Activities

Capital Assets, Not Being Depreciated:

Land

$

40,000 $

0 $

0 $

40,000

Capital Assets Being Depreciated Buildings and Building Improvements Equipment Land Improvements Library Collections

$ 1,369,312 88,675 40,000
1,159,374 $

87,731 $

$ 17,066

1,369,312 88,675 40,000
1,230,039

Less Accumulated Depreciation for: Buildings and Building Improvements Equipment Land Improvements Library Collections

516,297 54,034 23,200
780,941

34,762 1,192 1,600
58,007

17,066

551,059 55,226 24,800
821,882

Total Capital Assets, Being Depreciated, Net $ 1,282,889 $

-7 830 $

0 $ 1,275,059

Governmental Activity Capital Assets - Net $ 1,322,882 $

-Z,830 $

Q $ 1,315,052

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RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2005

EXHIBIT "G"

Note 4: CAPITAL ASSETS
Current year depreciation expense by function is as follows:
Public Services Maintenance and Operations

$

90,425

5 136

Note 5: RESTRICTED ASSETS

$====9=='5==56==1

Endowments in which donors have stipulated as a condition ofthe gift instrument, that the principal is to be maintained inviolate and in perpetuity, and invested for the purpose ofproducing present and future income, which may be expended, are reported as restricted assets in the Statement of Net Assets because their use is limited by applicable contractual agreements. Restricted assets at June 30, 2005, were as follows:

Permanent Funds

Restricted Investments Lilla Belle Roddenbery/Harris Jefferson Memorial Fund Edward A. Wight Memorial Fund

$

8,737

$

5,000

Note 6: RISK MANAGEMENT

The Library is exposed to various risks ofloss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees and acts of God.

The Library has obtained commercial insurance for risk of loss associated with torts, assets and errors or omissions. The Library has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Library's insurance coverage in any of the past three years.

The Library has elected to self-insure for all losses related to acts of God. The Library has not experienced any losses related to this risk in the past three years.

The Library participates in the Association County Commissioners ofGeorgia-Selflnsured Workers' Compensation Fund, a public entity risk pool organized on July 1, 1982, to develop, implement and administer a program of workers' compensation self-insurance for its member organizations. The Library pays an annual premium to the Fund for its general insurance coverage. Additional insurance coverage is provided through an agreement by the Fund with Safety National Casualty Corporation to provide coverage for potential losses by the Fund in excess of $600,000 loss per occurrence, up to $2,000,000.

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RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2005

EXHIBIT "G"

Note 6: RISK MANAGEMENT

The Library has purchased a surety bond to provide additional insurance coverage as follows:

Position Covered

Amount

All Employees

$

60,000

Note 7: RETIREMENT PLANS

TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)

TRS PLAN DESCRIPTION Substantially all librarians and clerical personnel employed by regional and county libraries are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts.

TRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Library who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Library makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 9.24% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows:

Fiscal Year

Percentage Contributed

Required Contribution

2005 2004 2003

100% 100% 100%

$ 29,753 $ 28,438 $ 28,210

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RODDENBERY MEMORIAL LIBRARY GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 2005

SCHEDULE "1"

REVENUES
Local Funds State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous
Total Revenues
EXPENDITURES
Current Public Services Technical Services Support Services Maintenance and Operations Information Technology
Total Expenditures
Net Change in Fund Balance
Fund Balance - Beginning

NONAPPROPRIATED BUDGETS

ORIGINAL

FINAL

ACTUAL AMOUNTS

$

457,500 $

457,500 $

462,568

181,753

181,753

181,754

850

850

850

21,138

9,810

21 601

$

640 103 $

640103 $

697 721

$

258,347 $

258,347 $

246,373

2,000

2,000

1,917

274,872

274,872

290,040

67,657

67,657

144,104

37 227

37,227

49751

$

640 103 $

640,103 $

732,185

$

0 $

0 $

-34,464

116 328

116 328

290,005

Fund Balance - Ending

$

116 328 $

116,328 $ ======2=5-5,=54=1=

Notes to the Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual
The accompanying schedule of revenues, expenditures and changes in fund balances budget and actual is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the fund financial statements.

See notes to the basic financial statements.

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RODDENBERY MEMORIAL LIBRARY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2005
AGENCY /FUNDING
GRANTS Board of Regents of the University System of Georgia Office of Public Library Services Salaries Travel Library Materials Maintenance and Operations

SCHEDULE "2"

GOVERNMENTAL FUND TYPE GENERAL FUND

$

155,979

750

8,259

16 766

$ ======18=1=7=54=

See notes to the basic financial statements.

- 18 -

RODDENBERY MEMORIAL LIBRARY SCHEDULE OF FEDERAL REVENUE
YEAR ENDED JUNE 30, 2005
AGENCY /FUNDING GRANT Museum and Library Services, Institute of Through Board of Regents of the University System of Georgia Library Services and Technology (LSTA) Grant State Library Program

SCHEDULE "3"
GOVERNMENTAL FUND TYPE GENERAL FUND
$ = = = = =85=0

See notes to the basic financial statements.

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RODDENBERY MEMORIAL LIBRARY SCHEDULE OF LOCAL REVENUE YEAR ENDED JUNE 30, 2005
LOCAL SOURCES Board of Education Grady County City Government Cairo County Government Board of Commissioners Grady County

SCHEDULE "4"

GOVERNMENTAL FUND TYPE GENERAL FUND

$

113,818

232,500

116 250

$====4=6=2..,56=8=

See notes to the basic financial statements.

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RODDENBERY MEMORIAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL
YEAR ENDED JUNE 30, 2005

SCHEDULE "5"

~
Barnes, Bearss, Bennett, Boudet, Byrden, Causey, Daniels, Ferguson, Gainous, Groves, Hopkins, Humphries, Jambulapati, Kaye, Mangeris, Phillips, Rieger, Sallee, Seykoski, Smith, Steedley, Thrower, Wooten,

Alisha N. Celina A. Nora B. Janet R. Brian L. Barbara S. Ernestine Joy Casey N. Annie M. Teresa L. Wendy Austin Elaine Vikram Alan L. PeterG. Teri Catherine Meredith A. Michael R. Birtie Sue Kathy E. Nicholas H. CamilleJ.

Totals per Report

TITLE CATEGORY
Page Administrative Assistant Library Assistant - Children's Services Associate Director Page Computer Specialist Library Assistant - Public Services Page Library Assistant - Public Services Children's Librarian Housekeeper Page Page Director Maintenance Helper Library Assistant - Technical Services Circulation Supervisor Page Page Library Assistant - Public Services Bookkeeper Page Page

SALARIES

$

3,394

17,893

10,187 $

59,277

1,858

27,770

16,286

110

10,048

32,000

10,310

1,345

2,071

80,831

4,896

15,028

17,402

494

1,883

16,808

18,207

80

1 357

TRAVEL
100 56
170
140
2,536 12
329

$

349,535 $ ====3=3=43=

See notes to the basic financial statements.

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