Roddenbery Memorial Library, Cairo, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2006

RODDENBERY MEMORIAL LIBRARY
CAIRO, GEORGIA REPORT ON AUDIT OF THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2006
STATE OF GEORGIA
DEPARTMENT OF AUDITS AND ACCOUNTS
Russell W. Hinton State Auditor

RODDENBERY MEMORIAL LIBRARY - TABLE OF CONTENTS -

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

4

D

RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET

TO THE STATEMENT OF NET ASSETS

5

E

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES

IN FUND BALANCES

GOVERNMENTAL FUNDS

7

F

RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT

OF REVENUES, EXPENDITURES AND CHANGES IN FUND

BALANCES TO THE STATEMENT OF ACTIVITIES

8

G

NOTES TO THE BASIC FINANCIAL STATEMENTS

9

SCHEDULES

REQUIRED SUPPLEMENTARY INFORMATION

1 SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES

IN FUND BALANCES - BUDGET AND ACTUAL

GENERALFUND

19

SUPPLEMENTARY INFORMATION

SCHEDULES OF REVENUE

2

STATE

20

3

FEDERAL

21

4

LOCAL

22

5 SCHEDULE OF SALARIES AND TRAVEL

23

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
May 15, 2007

Honorable Sonny Perdue, Governor Members ofthe General Assembly Members of the Board of Regents of the University System of Georgia
and Director and Members of the 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, 2006, 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 ofJune 30, 2006, 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.

2006ARL-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 19 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,

RWH:as 2006ARL-41

~W-~
Russell W. Hinton, CPA, CGFM State Auditor

RODDENBERY MEMORIAL LIBRARY

RODDENBERY MEMORIAL LIBRARY STATEMENT OF NET ASSETS JUNE 30, 2006
ASSETS Cash and Cash Equivalents Investments Accounts Receivable
Local State Government Inventories Capital Assets Land Construction in Progress Land Improvements Buildings 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

$

32,876

271,254

29,729 518
2,678

40,000 22,700 40,000 1,369,312 88,675 1,257,443 -1,513,085

$ ===1:!.,6=4=2==1,=00=

$

4984

$

1,305,045

13,737 318,334

$

1 637116

$ ====1,;;;,64=2=1,=00=

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, 2006

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
Total General Revenues
Change in Net Assets
Net Assets - Beginning of Year
Net Assets - End of Year

EXPENSES

CHARGES FOR SERVICES

$

277,611 $

2,386

313,119

104,621

41 852

$

739 589 $

22,762 22,762

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

EXHIBIT"B"

PROGRAM REVENUES

OPERATING

CAPITAL

GRANTS AND

GRANTS AND

CONTRIBUTIONS CONTRIBUTIONS

NET (EXPENSES) REVENUES
AND CHANGES IN NET ASSETS

$

174,568 $

16,981

$

191 549 $

16,262 $ 697
16 959 $ $ $ $
$

-64,019 -2,386
-313,119 -86,943 -41 852 -508,319
467,792 16,825 72052
556 669 48,350
1,588,766
1 637 116

-3-

RODDENBERY MEMORIAL LIBRARY BALANCE SHEET
GOVERNMENTAL FUNDS JUNE 30, 2006

EXHIBIT"C"

ASSETS Cash and Cash Equivalents Investments Accounts Receivable, Net
Local State Government 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

$

32,781 $

251,720

29,729 518
2 678

95 $ 19,534

32,876 271,254
29,729 518
2 678

$

317 426 $

19,629 $ ====3=3=7-05=5=

$

4984

$

4984

$

$

312,442

$

312 442 $

13,737 $
5 892 19,629 $

13,737
312,442 5 892
332 071

$

317 426 $

19,629 $ ==-==3=3=7=0=55.,.

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

RODDENBERY MEMORIAL LIBRARY RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET
TO THE STATEMENT OF NET ASSETS JUNE 30, 2006

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 Construction in Progress Land Improvements Buildings Equipment Library Collections Accumulated Depreciation
Total Capital Assets

$

$

40,000

22,700

40,000

1,369,312

88,675

1,257,443

-1,513,085

332,071 1,305,045

Net Assets of Governmental Activities (Exhibit "A")

$ ==1=,6=3=7=1,..,16.,.

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

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RODDENBERY MEMORIAL LIBRARY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2006

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

$

467,792

205,596

2,912

22,762

15,120 $

72,052

$

786,234 $

$ 1,705 1705 $

467,792 205,596
2,912 22,762 16,825 72,052
787,939

$

250,033

2,386

312,877 $

122,185

41,852

$ 242

$

729,333 $

242 $

$

56,901 $

1,463 $

255,541

18166

250,033 2,386
313,119 122,185 41 852
729,575
58,364
273 707

$

312,442 $

19,629 $ ===3=3=2.,.,0=7=1

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

RODDENBERY MEMORIAL LIBRARY RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF
REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES JUNE 30, 2006

EXHIBIT"F"

Total Net Change in Fund Balances - 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

$

$

114,880

-124,894

58,364 -10 014

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

$ =====48=,3=5=0

The notes to the basic financial statements are an integral part of this statement. -8-

RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

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 of Commissioners and one member appointed by Grady County Board ofEducation. The Library Board is without authority to determine the amount of its funding, except by submission ofbudget 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 ofthe Roddenbery Memorial Library.
Library-wide Statements: The Statement ofNet Assets and the Statement ofActivities display information about the financial activities ofthe 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 ofActivities 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 ofthe 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 ofgoods 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.
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RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

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 ofwhich 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 ofaccounting 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.

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RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

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 ofthe 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

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RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT "G"

Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

RECEIVABLES

Receivables consist of amounts 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 ofinsurance, or by collateral. The aggregate ofthe face

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RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

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 ofthe 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 ofthe 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, 2006, the bank balances were $93,473. The bank balances were entirely covered by Federal depository insurance.
CATEGORIZATION OF INVESTMENTS At June 30, 2006, the carrying value of the Library's total investments was $252,254 which is materially the same as fair value. The investment consisted entirely of funds invested in two Investment Pools administered by the Community Foundation ofSouthwest 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, 2006

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:

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RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT"G"

Note 4: CAPITAL ASSETS

Balances July I, 2005

Increases

Balances Decreases June 30. 2006

Governmental Activities Capital Assets, Not Being Depreciated:
Land Construction in Progress

$

40,000

$

0 $

22,700

0 $

40,000

22,700

Total Capital Assets Not Being Depreciated $

40,000 $

22.700 $

0 $

62,700

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

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

92,180 $

$ 64,776

1,369,312 88,675 40,000
1,257,443

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

551,059 55,226 24,800 821.882

34,759 1,190 1,600
87,345

64 776

585,818 56,416 26,400 844.451

Total Capital Assets, Being Depreciated, Net $ 1,275.059 $ -32.714 $

0 $ 1,242,345

Governmental Activity Capital Assets - Net $ 1.315.059 $ -10,014 $

0 $ 1,305.045

Current year depreciation expense by function is as follows:

Public Services Maintenance and Operations

$ 119,758 5,136

$ 124,894

Note 5: RESTRICTED ASSETS

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, 2006, were as follows:

Permanent Funds

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

$

8,737

$

5,000

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RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT"G"

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.

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:

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RODDENBERY MEMORIAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT "G"

Note 6: RISK MANAGEMENT
Fiscal Year 2006 2005 2004

Percentage Contributed
100% 100% 100%

Required Contribution
$ 30,919 $ 29,753 $ 28,438

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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, 2006

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

$

468,000 $

468,000 $

467,792

188,636

188,636

205,596

2,912

22,762

15,120

72 052

$

656,636 $

656,636 $

786,234

$

260,431 $

260,431 $

250,033

2,000

2,000

2,386

287,243

287,243

312,877

67,526

67,526

122,185

39436

39436

41 852

$

656,636 $

656,636 $

729,333

$

0 $

0 $

56,901

116,328

116,328

255 541

Fund Balance - Ending

$

116,328 $

116,328 $ ===3=1=2.!:44=2=

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, 2006
AGENCY/FUNDING
GRANTS Board of Regents of the University System of Georgia Office of Public Library Services Salaries Library Materials Maintenance and Operations Repairs and Maintenance

SCHEDULE "2"

GOVERNMENTAL FUND TYPE GENERAL FUND

$

163,382

8,274

16,981

16,959

$ =======2=0=5'=59=6=

See notes to the basic financial statements.

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RODDENBERY MEMORIAL LIBRARY SCHEDULE OF FEDERAL REVENUE
YEAR ENDED JUNE 30, 2006
AGENCY/FUNDING GRANT
Museum and Library Services, Institute of Through Board of Regents of the University System of Georgia Library Services and Technology Act State Library Program

SCHEDULE "3"
GOVERNMENTAL FUND TYPE GENERAL FUND
$ =======2=9=12=

See notes to the basic financial statements.

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RODDENBERY MEMORIAL LIBRARY SCHEDULE OF LOCAL REVENUE YEAR ENDED JUNE 30, 2006
LOCAL SOURCES Board of Education Grady County City Government Cairo County Government Board of Commissioners Grady County

SCHEDULE "4"

GOVERNMENTAL FUND TYPE GENERAL FUND

$

116,042

240,500

111,250

$ ====4=67='=79=2=

See notes to the basic financial statements.

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RODDENBERY MEMORIAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL
YEAR ENDED JUNE 30, 2006

SCHEDULE "5"

NAME
Barnes, Bearss, Bennett, Boudet, Byrden, Causey, Daniels, Flowers, Gainous, Groves, Hopkins, Humphries, Jambulapati, Kaye, Kelly, Mangeris, Phillips, Rieger, Smith, Smith, Steedley, Thrower, Williams, Wooten, Wooten,

Alisha N. Celina A. Nora B. Janet R. Brain L. Barbara S. Ernestine Joy Cherelle AnnieM. Teresa L. Wendy Austin Elaine Vikram Alan L. Angela Caprice PeterG. Teri Catherine Bradford Lee Birtie Sue Kathy E. Nicholas H. Kristy Jean CamilleJ. Neann Allegra

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 Page Maintenance Helper Library Assistant- Technical Services Circulation Supervisor Page Library Assistant - Public Services Bookkeeper Page Library Assistant - Public Services Page Page

Totals per Report

SALARIES

TRAVEL

$

3,492

19,161 $

213

10,607

43

61,704

104

253

29,120

392

16,913

466

10,512

33,120

209

10,571

2,945

528

83,617

1,793

1,192

4,194

55

16,727

17,786

930

8,698

19,429

454

1,311

7,420

488

1 602

$

362,786 $ ===3.,.,2=63...,

See notes to the basic financial statements.

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