Management report, Georgia Music Hall of Fame Authority, a component unit of the state of Georgia, year ended June 30, 2001

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GEORGIA MUSIC HALL OF FAME AUTHORITY

MANAGEMENT REPORT

-TABLE OF CONTENTS-

LETTER OF TRANSMITTAL SELECTED FINANCIAL INFORMATION

EXHIBITS

A BALANCE SHEET

ENTERPRISE FUND

1

B SCHEDULE OF REVENUES, EXPENSES AND CHANGES

IN RETAlNED EARNINGS

ENTERPRISE FUND

2

USSELL W. HINTON
STATE AUDITOR
(404) 6562174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400
January 18,2002

Honorable Roy E. Barnes, Governor Members of the General Assembly of Georgia Members of the Board of Directors of the Georgia Music Hall of Fame Authority
and Honorable Laura Meadows, Executive Director
Ladies and Gentlemen:
As part of our audit ofthe general purpose financial statements ofthe State of Georgia presented in the State ofGeorgia Comprehensive Annual Financial Report and the issuance ofa Statewide Single Audit Report pursuant to the Single Audit Act Amendments, as of and for the year ended June 30, 2001, we have performed certain audit procedures at the Georgia Music Hall of Fame Authority, Accordingly, the financial statements and compliance activities ofthe Georgia Music Hall ofFame Authority were examined to the extent considered 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 andinternal control as required by the Single Audit Act Amendments of 1996.
This Management Report contains information pertinent to the financial and compliance activities of the Georgia Music Hall of Fame Authority as of and for the year ended June 30, 2001. The .particular information provided is enumerated in the Table of Contents.
This report is intended solely for the information and use ofmanagement ofthe Georgia Music Hall ofFame Authority and members ofthe Authority and is not intended to be and should not be used by anyone other than these specified parties.
Respectfully submitted,

RWH:gp

State Auditor

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SELECTED FINANCIAL INFORMATION

GEORGIA MUSIC HALL OF FAME AUTHORITY BALANCE SHEET
ENTERPRISE FUND JUNE 30, 2001

EXHIBIT "A"

ASSETS
Cash and Cash Equivalents
Investments
Accounts Receivable Other
Inventories
Fixed Assets: Equipment Less: Accumulated Depreciation

$ 1,358,088.66 29,015.54

7,805.93 64,988.62

$ 115,168.06 -80,036.29

35,131.77

Total Assets

$ 1,495,030.52

LIABILITIES AND FUND EQUITY
Liabilities Accounts Payable
Fund Equity Retained Earnings Reserved Federal Financial Assistance Georgia Music Hall of Fame Authority Unreserved Undesignated Georgia Music Hall of Fame Authority Georgia Music Hall of Fame, Incorporated
Total Fund Equity
Total Liabilities and Fund Equity

$ _---.:4~,2::::::2:::.2:..:1.;~8

$

1,775.00

$ 1,099,441.39 389,591.95

1,489,033.34

$ 1,490,808.34

$ 1,495,030.52

Note: The financial information presented on this exhibit contains financial activity of the Georgia Music Hall of Fame, Incorporated, a component unit of the Georgia Music Hall of Fame Authority.

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GEORGIA MUSIC HALL OF FAME AUTHORITY SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS
ENTERPRISE FUND YEAR ENDED JUNE 30, 2001

EXHIBIT "B"

RETAINED EARNINGS - JUNE 30
Note: The financial information presented on this exhibit contains financial activity of the Georgia Music Hall of Fame, Incorporated, a component unit of the Georgia Music Hall of Fame Authority. -2-

$ 1,490,808.34