Coastal Plain Regional Library, Tifton, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2002

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DEPARTMENT oF AUDITS. AND.ACCOUNTS



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: ., .' , . ~EPORT ON AUDIT .

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Russell

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Hinton:

State Aud,ltor'

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COASTAL PLAIN REGIONAL LIBRARY
TABLE OF CONTEN rs.

Page

SECTION I

FINA.NCIAL

INDEPENDENT AUDI I OR'S COMBINED REPOR I ON GENERAL-PURPOSE FINANCIAL STATEMEN IS AND SUPPLEMENTARY INFORMATION

EXHIBITS

GENERAL-PURPOSE FINANCIAL STA fEMENTS

COMBINED S IATEMENTS - OVERVIEW

A

COMBINED BALANCE SHEEl

ALL FUND TYPES AND ACCOUNl GROUP

B

COMBIN[D STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FLND BALANCES

ALL GOVERNMEN fAL FUND TYPES

4

C

or COMBINl:.D STA fEMENT REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

GENERAL AND SPECIAL REVENUE FUNDS

5

D NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS

6

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

SCHEDULE or REVENUE

Sl A f'E

14

2

FEDERAL

15

3

LOCAL

16

4 SCHEDULE OF SALARIES AND TRAVEL

17

SECTION II FINDINGS AND QUESTIONED COSTS
or SCI IEDU LE rINDINGS AND QUESTIONED COSTS

SECrlON I FINANCIAL

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DEPARTMENT OF Aunrrs AND ACCOUNTS
2'\t \\'.,..,hmgton ~trcet ~ V,,.' ~u11c 214
Atl,1111J ( 1l.'org1J ,01 ~ l-8400

June 18. 2003

Honorahlc Sonny Perdue. Governor Member, of the General Assembly Members of the Board of Regents of the U111vers1ty Sy,tcm of Georgia
and D1Tcctor and Members of the Coastal Plain Regional Library Board
INDr:PENDENT AUDI fOR'S COMBI~ED REPORT ON GLNERAL-PURPOSE FINA.NCIAI STATEMEI\TS AND SUPPLEM[NTARY INfORMATION
Ladies and Gentlemen
We have audited the accompanying general-purpose financial statements of the Coastal Plain Regmnal Library, as ol and forthe year ended June 30. 2002, as hsted m the table ofcontents These general-purpose financial statements are the rcsponsih1hty of the Coastal Plam Regional Library's management Our respons1b1hty 1s to express an opm1on on the-,e general-purpose financial statements based on our audit
We conducted our audit m accordance wllh aud1tmg standards generally accepted m the Urnted State, of Amenca Those standards reqmre that we plan and perform the audit to obtam reasonable a~,urance about whether the general-purpose financial statements are free ofmatenal misstatement An audll mdudcs examming. on a te,t basis. evidence supporting the amounts and d1,closure~ m the financial statement, An audll also include~ assessmg the accountmg pnnc1ples used and s1grnficant estimate~ made by management, as well a~ ,:valuating the overall financial statement presentation We beheve that our audit provides a reasonable basis for our opm1on
As de,cnbcd in the notes to the general-purpose financial statements. the Library's financial statements have heen prepared u~mg a certain accountmg practice and pohey which. m our op1rnon, vanes m ~ome re~pt:cb from generally accepted accountmg pnnc1pk, Th1, vanance 1s descnhed as follows
!"he general-purpo,c financial statement, of the Library did not contam a General FD,ed As~eb Account Group to account for property, equipment and mexhausllble collections and hooks owned by the Library whir n should he mcluded to conform to generally accepted accountmg pnnc1plcs
2002ARL-42

The aggregate effect on the general-purpose financial statements of th1, om1~s1on has not been determined. but 1, bcheved to be matenal
In our op1mon, except for the effects on the general-purpo,e financial statements of the matters referred to in the thJTd paragraph, the general-purpose financial statements referred to above present fairly, in all matenal respects, the financial po~1t1on of the Coastal Plain Regional Library as of June 30. 2002. and the results of 1t, operation, for the year then ended, in conformity with accounting principles generally accepted in the Umted States of Amenca
Our audit was performed for the purpose of forming an opimon on the general-purpose financial statements of the Coastal Plain Regional Library tal..en as a whole The accompanying financial schedules (Schedules I through 4), as hsted in the table of contents. are presented for purposes of add1uonal analy,1s and are not a required part of the general-purpose financial statements of the Coastal Plain Regional Library Such information has been ~ubJected to the aud1tmg procedures apphed m the audit of the general-purpose financial statements and m our opmion 1s fairly stated, m all matenal respects. m relallon to the general-purpose financial statements taken as a whole
A copy ofth1s report has been filed as a permanent record m the office of the State Auditor and made
available to the press of the State, a, provided for by Official Code of Georgia Annotated Section 50-
6-24
Respectfully submitted,
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Russell W. Hinton State Auditor
RWI-Ias 2002ARL-42

COASTAL PLAIN REGIONAL LIBRARY

COASTAL PLAIN REGIONAL LIBRARY COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUP JUNE 30 2002

ASSETS Cash and Cash Eqwvalents Investments Amount to be Provided ,n Future Years
For Payment of Compensated Absences
Total Assets
LIABILITIES AND FUND EQUITY LIABILITIES
Accounts Payable Deferred Revenue Compensated Absences
Total L1ab1l1t1es FUND EQUITY
Fund Balances Unreserved Undes1gnated
Total L1ab1ht1es and Fund Equity

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

$ 49,355 94 $

275 00

27,531 75

$ 76,887 69 $-=~-2-75-=00=

$ 35,205 40 $
$ 35,205 40 $

27500 275 00

41,682 29

0 00

76,887 69 $

275 00

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The notes to the general-purpose finane1al statements are an integral part of this statement -2 -

EXHIBIT"A"

ACCOUNT GROUP
GENERAL LONG-TERM
DEBT

TOTALS (Memorandum On~) JUNE 30, 2002 JUNE 30, 2001

$

49,630 94 $

27,22568

27,531 75

26,835 30

$ 14 855 64

14,855 64

13,780 08

$ 14,855 64 $

92,01833 $

67,841 06

$ $ 14,855 64 $ 14,855 64 S

35,205 40 $ 275 00
14,855 64
50,336 04 $

11,41787 13,780 08 25,197 95

41,682 29

42,643 11

$ 14,855 64 $

9201833 $

67 841 06

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COASTAL PLAIN REGIONAL LIBRARY
COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
YEAR ENDED JUNE 30 2002

EXHIBIT "B"

GENERAL FUND

SPECIAL REVENUE
FUND

TOTALS (Memorandum On~}
YEAR ENDED JUNE 30, 2002 JUNE 30, 2001

REVENUES

Stale Funds Federal Funds Local Funds Other Funds
Total Revenues

$ 456,36515 3 24300 $
78,715 04 5 594 90

$ 11,47200

s $ 543 918 09 $ 11472 00

456,36515 $ 14,715 00 78 715 04 5 594 90
555 390 09 s

466 322 97 1 553 00
71 863 66 68 416 68
608,15631

EXPENDITURES

Current Public Servk:es Technical Services Support SeMces Maintenance and Operation lnfonnat10n Technology
Total Expenditures
Excess of Revenues over (under) Expendrtures

s $ 56,375 88
801 24 471,613 14
13,107 23 2,981 42

2 926 56 $ 7 960 46
58498

$ 544,878 91 $ 11,472 00 $

$

-960 82 $

000 s

59,302 44 $ 801 24
479,573 60 13 107 23 3,566 40
s 556 350 91
-960 82 $

62,3TT 70 84394
469 895 23 13 471 02 ~9 398 36
605 966 25
2,170 06

OTHER FINANCING SOURCES (USES)

Operating Transfers rn Operating Transfer,; Out
Total Other F,nancmg Sources (Uses)

$

1,276 56

-127656

s

000

Excess of Revenues and Other Financing Sources (over) under Expendrtures and Other Fmanctng Uses $

-960 82 $

0 00 $

-960 82 $

217006

FUND BALANCE JULY 1

4264311

000

4264311

40 473 05

FUND BALANCE JUNE 30

$ 41,682 29 $

000 $

s_ _ 41682 29

4_2,.64__,3_1_1

The notes to the general-purpose hnancial statements are an integral part of this statement -4-

COASTAL PLAIN REGIONAL LIBRARY COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
GENERAL AND SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30 2002

EXHIBIT -c

REVENUES
State Funds Federal Funds Local Funds Other Funds
Total Revenues
E)\PENDITURES
Current Pubhc Services Technical SeMces Support Services Maintenance and OperaUOn lnfonnation Technology
Total Expenditures
Excess of Revenues over (under) Expendrtures
FU~Q BA!,ANCE JULY 1 2001

GENERAL FUND

BUDGET

ACTUAL

$ 504,244 00 $
78 715 00 13,900 00

456,365 15 3 24300
78 715 04 5 594 90

$ 596 859 00 $ 543 918 09

$ 59 237 00 $ 90000
522 552 00 13 170 00
1 000 00

56,375 88 80124
471,613 14 13 107 23 2 981 42

$ 596 859 00 $ 544 878 91

$

000 $

-960 82

4264311

4264311

FUND BA!,ANCE JUNE 30 2002

$ 42,643 11 $ 41 682 29

SPECIAL REVENUE FUND

BUDGET

ACTUAL

$

000

$ 11 472 00

$

000 $ 1147200

$

000 $

2 926 56

7,960 46

58498

s

000 $ 1147200

$

000 s

000

000

000

$ ooo s -___o_o.o..

The notes to the general-purpo~ finanoal statements are en integral part of thm statement -5-

COASTAL PLAIN R[GIONAL LIBRARY

EXHIBll "D"

NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMFNTS

JUN[ 30, 2002

Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
REPORTING ENTITY
rhe Coastal Plam Regional Library (Library) operates pursuant to Official Code of Georgia Annotated Sections 20-5-40 through 20-5-59 to provide public library service~ with costs ,hared by part1c1patmg local governmental agencies and grants from the State of Georgia With the exception of the departure from generally accepted accountmg pnnc1ples disclosed m these notes. the financial statements of the Library have been prepared m confonmty with generally accepted accountmg prmc1ples as applied to governmental umts and unless otherwise d1sclo~d in these notes. the financtal statement, present all fund types and account groups of the Library
The Library Board consists of eight members. one member appointed by V1ctona Evans Memonal Library Board, one member appointed by Came Dorsey Perry Mcmonal Library Board. one member appointed by Cook County Library Board, one member appointed by Irwin County Library Board and four members appointed by Tifton-Tift County Library Board The Library Aoard 1s without authority to determine the amount of1ts funding. except by subm1ss1on of budget requests to local governmental umts lrom which the Library receives ,upport and to the State ofGeorgta for State and Federal fund mg Membership in the Library and part1c1pat10n in library service, 1s at the discretion of each part1c1pating governmental agency '[be Library Board h~ the power to designate management, the power to retain unreserved fund balances of local and other funds for continued operations and 1~ the lowest level of oversight re,pons1b1lity for the Library', opcrat10ns The Coastal Plain Regional Library 1s therefore determined to be a Joint venture
FUND ACCOU1'TING
The Library uses funds and an account group to report on its financial pos1t1on and the re,ult, of its operations rund accounting 1s designed to demonstrate legal compliance and to aid financial management by segregating transact10ns related to certain governmental functions or achv1t1es
A fund 1s a separate accounting enllly with a self-balancing set of accounts An account group i, a financial reporting device designed to provide accountability for certain assets and liub1lit1es that are not recorded in the funds because they do not directly affect expendable available financial resources
General hi.ed Asset~. which includes the Library's inexhaustible collect10ns and books. are recorded as expenditures m the vanous funds at the ttme of purchase A General F1xed Asset, Account Gmup 1s not presently maintained by the Library To conform to generally accepted accountmg pnnc1ple\, a General Fixed Assets Account Group should be maintained for reportmg the cost ofas~ts acquired by governmental fund types

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COASTAL PLAIN REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL-PURPOSE FINANCIALS fATEMENl S

JUNE 30, 2002

Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The general-purpose financial statements account for all State. Federal. Local and Other funds under control of the Library. m compliance with generally accepted accountmg pnnc1plcs applicable to governmental umts. unless otherwise disclosed m these notes Funds and the account group presented in th1~ report arc as follow~
GOVERNMENTAL FUND TYPES - used to account for all or most of the Library's general acuv11Ies. Governmental Fund Types mclude.
GENERAL FUND - the fund used to account for all financial resources of the Library except those rcqmred to be accounted for in another fund These transactions relate to resources obtamed and used for services provided by a Library
SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources that are legally restncted to expenditures for specified purposes The pnmary type of special revenue fund consists ofproceeds received from State and Federal sources to accomph~h specific obJec\Jvcs and are reqmred to be accounted for separately
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial rcportmg device used to account for compensated absences
BASIS OF ACCOUNTING
The accounting and financial reportmg treatment applied to a fund 1s dctermmed by its measurement focus All governmental funds are accounted for usmg a current financial resources measurement focus Wnh thts measurement focu~. only current assets and current hab1ht1es are generally mcluded on the balance sheet Operatmg statements ofthese funds present mcreases (1e , revenues and other financmg sources) and decreases (1 e. expenditures and other financmg u~s) m net current assets Their reported fund balance is considered a measure of available spendable resources
L1ab1ht1es which are e,pected to be financed from available spendable resources are reported as habihues m the governmental funds Other habihlles, which arc not expected to be financed from available spendable resources, are reported m the General Long-Term Debt Account Group
Governmental funds arc accounted for usmg the modified accrual basis ofaccountmg under which
Revenues are recogmzed when su~cept1blc to accrual (1 e, when they become both measurable and available) "Measurable" means the amount of the transac\Jon can be determmed and "available" means collectible withm the current penod or soon enough thereafter to be used to pay hab1ht1es of the current penod The Library considers receivables collected v.1th111 s1xtydays after year-end to be
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COASTAL PLAIN REGIONAL LIBRARY

EXIIIBil "[)"

NOTFS TO THE GENERAL-PURPOSE. FINANCIAL STATEMENTS

JUNE 30, 2002

Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
available and therefore susceptible to accrual Nonexchange transact10ns, in which the Library gives (or receive,) value without directly rece1vmg (or g1vmg) equal value m exchange, mclude intergovernmental grants and donations Revenue from grants and donations 1s recogmzed m the fiscal year m which all elig1b1hty requirements have been satisfied
Expenditures are generally recogmzed when the related fund liab1hty 1s mcurred
BUDGET
The Coastal Plam Regional Library's budget 1s a complete financial plan for the Library's fiscal year and 1s based upon estimates of expenditure~ together with probable fund mg sources. There is no statutory proh1b11Ion regardmg overexpend1ture of the budget at any level The budget for all governmental funds 1s prepared by fund, funcllon and obJect The legal level of budget control was established by the Library at the aggregate level The budget for governmental funds was prepared m accordance \\1th generally accepted accountmg principles
The budget process begm, when the Library's adm1mstrat10n prepare, a tentauvc aggregated budget for the Board's approval After approval ofth1s tentative budget by the Board. copies are sent to all local fundmg agencies. After fundmg approval 1s received from all local fundmg agencies. the Board makes revisions as necessary and adopts the budget The budget 1s then submitted to the Board of Regents of the University System of Georgia as a part of the Library's annual application for State aid The Board may increase or decrease the budget at any time durmg the year All unexpended budget authority lapses at fiscal year end
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash eqmvalents consist ofcash on hand. demand deposits and short-term investments mth origmal maturities of three months or less from the date of acqu1,1t10n m authorized financial mst1tut1ons Georgia Laws authorize the Library to deposit its funds in one or more solvent banks or msured Federal savmgs and loan assoc1auons
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Library m nonpart1c1patmg interest-earmng contract, (such as certificates of deposit) and repurchase agreements are reported at co,t Partic1patmg mterest-earmng contract~ and money market mvestments mth a maturity at purchase of one year or less are reported at amortized cost Both part1c1patmg interest-earmng contracts and money market mvestments with a matUl1ty at purchase greater than one year are reported at fair value The Official ,_ode of Georgia Annotated

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COASTAL PLAIN REGIONAL I.IARARY

EXHIBIT "D"

NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMEN IS

JUNE 30, 2002

Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Section 36-83-4 authon.1:es the Library to invest its funds In selecting among options for investment or among inslltullonal bids for deposits. the highest rate of return shall be the ohJecllve. given cqmvalcnt condll10ns of safety and liqmd1ty. Funds may be invested in the following
(I) Obligations issued by the State of Georgia or by other states,
(2) Obligations issued by the Umted States government,
(3) Obligations fully insured or guaranteed by the Uruted States government or a Umtcd States government agency.
(4) Obligations of any corporation of the Umted States government,
(5) Pnme banker's acceptances.
(6) The Local Government Investment Pool administered by the State of Georgia. Office of Treasury and Fiscal Services.
(7) Repurchase agreements, and
(8) Obligallons of other poliucal subdiv1s1ons of the State of Georgia
COMPENSATED ABSENCES
Compensated absences represent obligations of the Library relating to employees' nghts to receive compcnsallon for future absences based upon services already rendered This obhgallon relates onl) to vesting accumulating leave in which payment 1s probable and can be rea~onably estimated. No hab1hty has been recorded in the ind1v1dual funds for the current portion ofth1s obhgallon as this amount 1s deemed 1mmatenal to the general-purpose financial statements
INTERFUND TRANSACTIONS
The Library ha~ the follo\\1ng type of interfund transactions
Reimbursements of expenditures in1t1ally made from a fund that are properly applicable to another fund are recorded as expenditures in the reimbursing fund and as reducllons of expenditures m the fund that 1s re1mbur;e<l

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COASTAL PLAIN REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS

JUNE 30. 2002

Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
MEMORANDUM ONLY - TOTAL COLUMNS
Total columns on the general-purpose financial statements are caplloned "Memorandum Only" to md1cate that they are presented only to fac1htate financial analysis. Data in these columns do not present financial pos111on or results of operations m conformity with generally accepted accountmg pnnc1ples, nor 1s such data comparable to a consohdat10n Interfund elimmat10ns have not been made m the aggregation of this data.
Note 2 DEPOSITS
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGAJ Secllon 45-8-12 provides that there shall not be on deposit at any time many depository for a lime longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofmsurance, or by collateral The aggregate of the face value of such surety bond and the market value of securities pledged shall be equal to not less than 11 ! k<'tcent of the pubhc funds bemg secured after the deduction of the amount ofdeposit msurance Ifa ,,~pos1tory elects the pooled method (OCGA 45-8-13 I) the aggregate ofthe market value of the secunt1es pledged to secure a pool ofpubhc funds shall be not less than 110 percent ofthe daily pool balance OCGA Sect10n 45-8-11 (b) provides an officer holdmg pubhc funds may, m his d1seret1on, waive the requirement for secunty m the case of operating funds placed m demand deposit checkmg accounts
Acceptable secunty for deposits consists of any one of or any combmat10n of the following
(I) Surety bond signed by a surety company duly qualified and authonzed to transact busmess within the State of Georgia..
(2) Insurance on accounts provided by the Federal Deposll Insurance Corporallon,
(3) Bonds. bills, notes, certificates of mdcbtedness or other direct obhgauons of the Umted States or of the State of Georgia,
(4) Bonds, bills, notes. certificates of indebtedne~s or other obhgauons of the counties or mumc1palit1es of the State of Georgia..
(5) Bonds of any pubhc authority created by the laws of the State of Georgia, prov1dmg that the statute that created the authonty authonzed the use of the bonds for this purpose,
(6) lndustnal revenue bonds and bonds of development authontles created by the lav.s ofthe State of Georgia, and

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COASl AL PLAIN Rl:GIONAI. LIBRARY NOTl:S IO THF GENERAL-PURPOSE FINANCIAL STA I EMENTS
JlJNf 30, 2002

l:XHIBI r "D"

Note 2 DEPOSITS

(7) Bonds. bills, notes. certificate, of indebtedness, or other obhgatlons of a subsidmry corporation of the Uruted States government. which arc fully guaranteed by the Umtcd States government both as to pnnc1pal and interest or debt obhgat1ons issued by the Federal Land Bank, the Federal Home Loan Bank. the Federal Intermediate Credit Bani... the Central Bank for Cooperatives, the Farm Credtt Banks, the Federal Home Loan Mortgage Association. and the Federal National Mortgage Assoc1at10n.

CATEGORIZATION OF DEPOSITS At June 30. 2002. the bank balru1ces were$ I02. 188 28 The bank balances were entirely covered by rederal depository insurance or by collateral held by the Library or the Library's agent in the Library's name.

Note 3 RISK MANAGEMENT

The Library 1s exposed to vanous nsks ofloss related to torts, theft of, damage to, and destruct10n of assets, errors or om1ss10ns, Job related 1llness or inJune~ to employees and acts of God

The Library has ohta.med commercial insurance for risk ofloss associated Y.1th torts and assets The Library has neither s1gmficantly reduced coverage for these nsks 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 los,es related to acts of God In addition. the Library ha~ elected to ,elf-insure for errors or omissions, which includes. among other nsks, nsks for sexual harassment and discnminat1on The Library has not expenenced ru1y losses related to these nsks in the past three years

fhe Library part1c1pates m the Association County Comm1ss10ners ofGeorg1a-Selflnsured Workers' Compensation Fund, a pubhc entity risk pool organized on July I. 1982 to develop, implement and adm1ruster a program of workers' compensation self-in,urance for its member organizations The Library pays an annual prcmmm to the Fund for its general insurance coverage Addit10nal insurance coverage 1s provided through an agreement by the Fund with County Reinsurance LIIlllted to provide coverage for potential losses by the Fund in excess of$450,000 00 loss per occurrence, up to $2,000,000 00

The Library has purchased surely bonds to provide add1t10nal in,urance coverage as follows

Post11on Covered

Amount

Library Director Bookkeeper

$ I00.000.00 $ 50,000 00

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C0,1STAL PLAIN REGIOl'-AL LIBRARY

EXHIBIT "D"

NOTES TO fHE GENERAL-PURPOSE FINANCIAL STAl lMENTS

JUNE 30.,__1002

Note 4 GENERAL LO1'JG-TERM DEBT

The changes m General Long-Term Debt durmg the fiscal year ended June 30. 2002. were as follows

Compensated Absences

Balance July I. 200 I

$ 13.780 08

Addition~ Annual Leave Earned and lJt1hzed (Net)

1 075.56

Balance June 30, 2002

$ )4,855,~

Note 5 CONTINGENT LIABILITIES

Amounts received or receivable pnnc1pally from the Federal Government are subJecl to audit and review by grantor agencies This could result m requests for re1mbur~cments to the grantor agency for any expenditures which are d1sallowed under grant terms. The hbrary beheves that such d1sallowance~. if any. will be 1mmatenal to it~ overall financial position

Note 6 ACCUMULATED EMPLOYEES' LEAVE-.

Regular full-time employees earn annual leave rangmg from 84 to 1.25 days each month dependmg upon the employee's length ofcontmuous Library service with a mai..imum accumulation of fifteen days Employees are paid at theu daily rate of pay for unused accumulated annual leave up to the maximum of fifteen day~ upon retrrement or termmat10n of employment See Note 1 Compensated Absences

Note 7 RETIREMENT PLANS

TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)

TRS PLAN DESCRIPTIO"-1 Subslalltlally all hbranans and clencal personnel employed by rcg10nal and county hbranes are covered by the Teacher~ Retuement System of Georgia (TRS). which 1s a cost-~hanng multiple emplo)er defined benefit pension plan TRS provides service retirement d1sab1hty rel!remcnt and survivors benefits for its members m accordance with State statute The Teachers Retirement System of Ueorgm issues a separate stand alone financial audit report and a copy can be obtamed from the Georgia Department of Audits and Accounts

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COASTAL PLAIN REGIONAL I.IRRARY

[XHIBIT "D"

NOTES TO THF GFNFRAL-PURPOSE FINANCIAL STATEME:.NTS

JUNE 30, 2002

Note 7 RI:1 IREMENT PLANS

TRS CON'TRIBUTIONS REQUIRED AND MADE Employees of the Library who arc covered by TRS are rcqmrcd by State statute to contnbute 5% of thc1r gross earnings to TRS The Library makes monthly employer contnbut10ns to TRS at rates adopted by the fRS Board of Trustees in accordance with State statute and as advised by their independent actuary The reqmred employer contnbullon rate 1s 9 24% and employer contnbut10ns for the current fiscal year and the preceding two fiscal years are as follows

Fiscal Year

Percentage Contnbuted

Reqmred Contnbullon

2002 2001 2000

100% 100% 100%

$ 50,652.77 $ 61,279.73 $ 58.224 80

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COASTAL PLAIN REGIONAL LIBRARY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30. 2002

SCHEDULE "1"

AGENCY/FUNDING
GRANTS Board of Regents of the UnIversrty System of Georgia Office of Public Library Servtees Salanes Travel Library Matenals Maintenance and Operations

GOVERNMENTAL FUND TYPE GENERAL FUND

$

346,132 19

4,500 00

56,604 96

49,128 00

s _=_.;4:;;56::.,,;;;36:;;;5~1~5

See notes to the genera~purpose financial statements - 14 -

COASTAL PLAIN REGIONAL LIBRARY SCHEDULE OF FEDERAL REVENUE
YEAR ENDED JUNE 30 2002

SCHEDULE 7'

AGENCY/FUNDING
GRANT Museum and Library SeNK:e& lnstrtute of Through Board of Regents of the Umversrty System of Georgia Library Services and Technology Act State Library Program

GOVERNMENTAL

FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

$ 3 243 00 $ 11 472 00 $ _ _.:,;14:;.:7:;.:1;;,5,;;0::,0

See notes to the general-purpose financial statements

- 15 -

----------------------- -- - - -
COASTAL PLAIN REGIONAL LIBRARY SCHEDULE OF LOCAL REVENUE
YEAR ENDED JUNE 30. 2002
LOCAL SOURCES Affiliate Ubranes Came Dorsey Perry Memonal (<,0k County l;wm County Tilton-Tilt County Victona Evans Memonal Boards of Education Cook County Tit County

SCHEDULE "3"

GOVERNMENTAL FUND TYPE GENERAL FUND

$

14,307 96

13,554 96

7,530 00

31,62804

8,284 08

2,210 00 1,200 00

$ =---7_8.7.-=15~04~

See notes to the general-purpose financial statements - 16 -

COASTAL PLAIN REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL
YEAR ENDED JUNE 30 2002

SCHEDULE "4"

NAME
Britt, Cole Cooper, Fnzzell Gnffis Lawley, McM1lhan, Newber,y, Paulk Smrth, Tyson

Chns~e M Teresa Dena Yvonne Gary F Kathy E Jennifer AnmsM JoanW Sara Rutn Janice

Totals per Report

TITLE CATEGORY
Secretary Director Technical Services Librarian Assistant Director Youth Service L1branan Techn1cal Services Llbranan Techmcal Services Assistant Speaal Services l1branan Public Services L1branan Clerk Bookmobile Driver

SALARIES

TRAVEL

$ 20,582 04 4,720 75 $ 13,223 51
60,583 86 58,308 82 42,791 32 21,942 96 49,09260 58,308 82
5,375 25 5,907 00

100 00 13860 3,22514 80140
15708
4592 896

$ 340 836 93 $ --4_4_7_7_10_

See notes to the genera~purpose financial statements - 17 -

SECTION II FINDINGS AND QUESTIONFD COSTS

COASTAL PLAIN REGIONAL LIBRARY SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED JUNE 30, 2002
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed A~<;el~ Account Group Finding Control Number FS-7372-93-02
The audit report for the year ended June 30, 2001, noted that the Coastal Plain Reg10nal Library did not maintain a system-wide General Fixed Assets Account Group \\'1thin the formal accounting records During the year under reVIew, the Library failed to establish a General Fixed Assets Account Group within the formal accounting records This condit10n results in the general-purpose financial statements ofthe Library being incomplete and not in accordance with generally accepted accounting pnnc1plc~. Appropnate act10n should be taken by the Library to establish accounting controls and procedures to provide for maintenance ofa General Fixed Assets Account Group These sub~1d1ary records should include an inventory ofland, buildings, equipment and inexhaustible collections and books o\\'ned by the Library and should include, but may not be limited to, date acquired, acqms111on cost, esttmated replacement cost. locat10n and descnptton Detatled records should be maintained for all add111ons and deletions to the General fixed Assets Account Group