EAST CENTRAL GEORGIA REGIONAL LIBRARY
AUGUSTA, 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

EAST CENTRAL GEORGIA REGIONAL LIBRARY - TABLE OF CONTENTS -

SECTION I

FINANCIAL

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

REQUIRED SUPPLEMENTARY INFORMATION

MANAGEMENT'S DISCUSSION AND ANALYSIS

EXHIBITS

BASIC FINANCIAL STATEMENTS

DISTRICT-WIDE FINANCIAL STATEMENTS

A

STATEMENT OF NET ASSETS

I

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

6

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

9

SCHEDULES

REQUIRED SUPPLEMENTARY INFORMATION

I SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES

IN FUND BALANCES - BUDGET AND ACTUAL

GENERALFUND

21

EAST CENTRAL GEORGIA REGIONAL LIBRARY - TABLE OF CONTENTS -

SECTION I

FINANCIAL

SCHEDULES

SUPPLEMENTARY INFORMATION

SCHEDULES OF REVENUE

2

STATE

22

3

FEDERAL

23

4

LOCAL

24

5 SCHEDULE OF SALARIES AND TRAVEL

25

SECTION II AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS

SECTION I 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, 2007

Honorable Sonny Perdue, Governor Members of the General Assembly Members of the Board of Regents of the University System of Georgia
and Director and Members of the East Central Georgia Regional 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) of the East Central Georgia Regional Library as of and 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 East Central Georgia Regional 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 East Central Georgia Regional Library, as of June 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

Management's Discussion and Analysis and the Schedule ofRevenues, Expenditures and Changes in Fund Balances - Budget and Actual, as presented on pages i through v and page 21 are not a required part ofthe basic financial statements but are 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 of measurement and presentation of the 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 East Central Georgia Regional 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,
~w~P~\ State Auditor
RWH:gp 2006ARL-41

EAST CENTRAL GEORGIA REGIONAL LIBRARY MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE FISCAL YEAR ENDED JUNE 30, 2006
Management's discussion and analysis of the financial performance of the East Central Georgia Regional Library (the "Library") is intended to provide readers of the Library's financial statements with an overview of the Library's financial activities for the fiscal year ending June 30, 2006. Please read it in conjunction with the Library's financial statements, which follow this section.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the Library's basic financial statements. The Library's basic financial statements comprise three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the basic financial statements. This report also contains other supplemental information in addition to the basic financial statements themselves.
Government-wide Financial Statements and Financial Analysis
The government-wide financial statements are designed to provide readers with a broad overview of the Library's finances, in a manner similar to a private-sector business.
The statement of net assets presents information on all of the Library's assets and liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the Library is improving or deteriorating. Such change may result from many factors, including those not under the Library's control, such as the facility conditions, required programs, funding reductions, and other causes.
The statement of activities presents information showing how the Library's net assets changed during the most recent fiscal year. All changes in net assets are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.
Net assets increase when revenues exceed expenses. Increase to assets without a corresponding increase to liabilities results in increased net assets, which indicates an improved financial position. Net assets may serve over time as a useful indicator of the Library's financial position. At the close of fiscal year 2006, the Library's net assets totaled $4,421,362.
Fund Financial Statements: A fund is a grouping of related accounts that is used to maintain control over resources that have been separated for specific activities or objectives. The Library uses fund accounting to ensure and demonstrate compliance with finance related legal requirements. All of the funds of the Library are considered governmental funds.

EAST CENTRAL GEORGIA REGIONAL LIBRARY MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE FISCAL YEAR ENDED JUNE 30, 2006

Governmental Funds: are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, these fund statements are reported using the modified accrual basis of accounting, which measures cash and all other financial assets that can be readily converted to cash. Such information may be useful in evaluating a government's near-term financing requirements. The General Fund is the Library's primary operating fund. It accounts for all financial resources of the Library.

Notes to the Basic Financial Statements: The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements.

The perspective of the Statement of Net Assets is of the Library as a whole. Table 1 provides a summary of the Library's net assets for fiscal year 2006, compared to fiscal year 2005.

Table 1 Net Assets

Governmental Activities

Fiscal

Fiscal

Year 2006

Year 2005

Assets Cash and Cash Equivalents Investments Accounts Receivable Capital Assets, Net

$ 365,408 965,519 179,247
3,029,654

$ 706,017 591,602
2,948.712

Total Assets

$ 4,539,828 $ 4,246,331

Liabilities Contracts Payable Retainages Payable Long-Term Liabilities Due in More Than One Year
Total Liabilities
Net Assets Invested in Capital Assets Restricted for Permanent Fund Unrestricted
Total Net Assets

$

67,546

81,496

$

118,466

108,199

$

118,466 $

257.241

$ 3,029,654 89,476
1,302,232
$ 4,421.362

$ 2,948,712 85,668
954.710
$ 3,989.090

The net assets of a governmental entity may serve as an indicator of the entity's financial position. The "Summary Schedule" above shows an increase in net assets for the year ending June 30, 2006.
ii

EAST CENTRAL GEORGIA REGIONAL LIBRARY MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE FISCAL YEAR ENDED JUNE 30, 2006

Table 2 shows the changes in net assets for fiscal year 2006, compared to the changes for fiscal year 2005.

Table 2 Change in Net Assets

Revenues Program Revenues: Charges for Services Operating Grants and Contributions Capital Grants and Contributions

Governmental Activities

Fiscal

Fiscal

Year 2006

Year 2005

$

181,806

1,276,892

461 770

$

233,807

1,198,574

1,533,715

Total Program Revenues

$ 1,920,468 $ 2,966,096

General Revenues: Allotments from Participating Governments Investment Earnings Miscellaneous

$ 2,718,935 74,757
269,271

$ 3,130,693 31,211 138,803

Total General Revenues

$ 3,062,963 $ 3,300,707

Total Revenues

$ 4,983,431

$ 6,266,803

Program Expenses Current Services Public Services Technical Services Support Services Maintenance and Operations Information Technology

$ 2,610,490 413,536 825,324 444,405 257,404

$ 3,685,083 444,082 753,080 338,071 140,218

Total Expenses

$ 4,551,159 $ 5,360,534

Increase in Net Assets

$

432.272

$

906.269

Financial Analysis of the Library's Funds

State funding comprised 34.6% of the Library's total revenue for fiscal year 2006. Local Funds for Regional Services were $2,718,935 in fiscal year 2006. This represents only a decrease of $411,758 over the previous year. Local Funds comprise 54.6% of Library revenues. Federal Revenues comprise 0.2% of Library revenues. Other revenues are those that are self-generated. Fines, fees for lost books, donations, investment earnings and other miscellaneous revenue totaled $525,834 in fiscal year 2006, as compared to $403,821 in fiscal year 2005. This is largely due to increased interest rates, as well as higher circulation of materials which resulted in

111

EAST CENTRAL GEORGIA REGIONAL LIBRARY MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE FISCAL YEAR ENDED JUNE 30, 2006
a larger amount collected in fines and fees for lost books. Self-generated revenues comprised 10.6% of Library revenues in fiscal year 2006.
The net change in fund balance for the Library's General Fund was a decrease from the prior year in the amount of $357,789. This decrease was due to actual expenditures being more than the approved budget while revenues remained essentially as anticipated. The Library managed to decrease personnel costs by multi-tasking staff and by leaving some vacant positions unfilled. Additional savings were accomplished by reducing general operating expenditures. The Library did not have to use fund balance to cover actual expenditures as originally budgeted.
There was an increase in the level of the State Revenue Funds from the prior year. State Funds were $1,191,264 in fiscal year 2005, and $1,263,977 in fiscal year 2006. The State Revenue Funds include state grants to be used in specific amounts for Personnel, Materials, and System Support Services (formerly Maintenance and Operations), as well as Federal funds designated for special projects. The Library expends all State and Federal Funds by year end or other designated funding period, since these funds must be returned if not used.
Economic Factors and Next Year's Budget
The Library's financial position for next year is expected to remain stable. State Grant Funds are expected to increase due to State Legislative approvals for increases in salaries and materials. Local funding agencies are expected to match at least the level of funding from the previous year. Preliminary budget information forecasts approximately a 5% increase for fiscal year 2007. There are no currently known facts, decisions, or conditions that are expected to have a significant effect on the Library's financial position (net assets) or results of operations (revenues, expenses, and other changes in net assets).
Capital Assets and Long-Term Debt
At the end of 2006, the Library had $3,029,654 in capital assets net of accumulated depreciation. This included equipment and Library collections. Additions to capital assets during 2006 included only additions to the Library collections.
As of June 30, 2006, the Library's only reported Long-Term Debt consisted of compensated absences.
IV

EAST CENTRAL GEORGIA REGIONAL LIBRARY MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE FISCAL YEAR ENDED JUNE 30, 2006

Table 3 Capital Assets at June 30

Governmental Activities

Fiscal

Fiscal

Year 2006

Year 2005

Equipment Library Collections
Total Assets

$

143,705

13,699,839

$ 13,843,544

$

143,705

13,783,086

$ 13,926,791

Less: Accumulated Depreciation Capital Assets - Net Budgetary Highlights

10,813,890 $ 3,0221654

10,978,079 $ 219~81712

The Library Board approves an annual budget in June for the following fiscal year that begins in July. The adopted budget included expenditures of $3,304,180 and was not significantly amended during the year. Actual expenditures for personnel services were less than budgeted due to unfilled positions throughout the year. The net change in fund balance was $646,462, which was carried forward to fiscal year 2007 for materials and operational expenditures.

Contacting the Library's Financial Manager

The financial statements are designed to provide a general overview of the Library's finances. Questions concerning any of the information provided should be addressed to the Director, Augusta Richmond County Library, 902 Greene Street, Augusta, Georgia 30901.

V

EAST CENTRAL GEORGIA REGIONAL LIBRARY

EAST CENTRAL GEORGIA REGIONAL LIBRARY STATEMENT OF NET ASSETS JUNE 30, 2006

EXHIBIT"A"

ASSETS Cash and Cash Equivalents Investments Accounts Receivable Capital Assets
Equipment Library Collections Less: Accumulated Depreciation
Total Assets
LIABILITIES Long-Term Liabilities
Due in More Than One Year NET ASSETS
Invested in Capital Assets, Net of Related Debt Restricted for
Permanent Fund Unrestricted
Total Net Assets
Total Liabilities and Net Assets

GOVERNMENTAL ACTIVITIES

$

365,408

965,519

179,247

143,705 13,699,839 -10,813,890

$ ===4=,5=3=9=,8=28=

$

118 466

$

3,029,654

89,476 1,302,232

$

4,421,362

$ ===4=,5=3=9'=82=8=

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

EAST CENTRAL GEORGIA REGIONAL 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

$ 2,610,490 $ 413,536 825,324 444,405 257,404
$ 4,551,159 $

181,806 181,806

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

$

1,101,651 $

175,241

$

1,276,892 $

461,770 $
461 770 $ $ $ $

-865,263 -413,536 -825,324 -269, 164 -257 404
-2,630,691
2,718,935 74,757
269 271
3,062,963
432,272
3,989,090

$

4 421 362

-3-

EAST CENTRAL GEORGIA REGIONAL LIBRARY BALANCE SHEET
GOVERNMENTAL FUNDS JUNE 30, 2006

EXHIBIT"C"

ASSETS Cash and Cash Equivalents Investments Accounts Receivable
Local
Total Assets
FUND BALANCES Reserved for:
Permanent Fund Unreserved
Undesignated Reported in General Fund
Total Fund Balances

GENERAL FUND

CAPITAL PROJECTS
FUND

PERMANENT FUND

TOTAL

$ 365,408 $ 876,043
179 247

0 $

$ 89,476

365,408 965,519
179 247

$ 1,420,698 $====0== $===8=9=4=7=6 $ 1510174

$
$ 1,420,698 $ _ _ _----'o'-

89,476 $

89,476

1,420,698

$ 1,420,698 $=====0 $===8=9=4=7=6 $ 1510174

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

EAST CENTRAL GEORGIA REGIONAL 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:
Equipment Library Collections Accumulated Depreciation
Total Capital Assets
Long-Term Liabilities are not due and payable in the current period and therefore are not reported as liabilities in the funds. Long-Term Liabilities at year-end consist of:
Compensated Absences

$

1,510,174

$

143,705

13,699,839

-10,813,890

3,029,654

-118466

Net Assets of Governmental Activities (Exhibit "A")

$ ====4,=42=1='=,3=6==2

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

EAST CENTRAL GEORGIA REGIONAL 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 Facilities Acquisition and Construction
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES (USES)
Transfers In Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance - Beginning
Fund Balance - Ending

GENERAL FUND

CAPITAL PROJECTS
FUND

PERMANENT FUND

TOTAL

$ 2,718,935 1,263,977 $ 12,915 181,806 70,949 269,271
$ 4,517,853 $

461,770 $
461 770 $

$ 3,808 3,808 $

2,718,935 1,725,747
12,915 181,806 74,757 269,271
4,983,431

$ 2,368,437 413,536 825,324 444,405 257,404 $

$ 4,309,106 $

$

208,747 $

$
312,728 312,728 $ 149,042 $

0 $
0 $ 3,808 $

2,368,437 413,536 825,324 444,405 257,404 312,728
4,621,834
361,597

$

149,042

$

$

149,042 $

$

357,789 $

1,062,909

-149,042 -149,042
0 $ 0

$
$ 3,808 $ 85,668

149,042 -149,042
0 361,597
1,148,577

$ 1,420,698 $========0 $

89,476 $ 1,510,174

The notes to the basic financial statements are an integral part of this statement. -6-

EAST CENTRAL GEORGIA REGIONAL 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
Some items reported in the Statement of Activities do not require the use of current financial resources and therefore are not reported as expenditures in Governmental Funds. These activities consist of:
Increase in Compensated Absences
Change in Net Assets of Governmental Activities (Exhibit "B")

$

361,597

$ 482,104 -401,162

80,942

-10 267 $ ===43=2=,2=72=

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

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EAST CENTRAL GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT"G"

Note 1: DESCRIPTION OF LIBRARY AND REPORTING ENTITY
REPORTING ENTITY
The East Central Georgia Regional Library (Library) operates pursuant to Official Code ofGeorgia 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 thirteen members; one member appointed by Burke County Library Board, three members appointed by Columbia County Library Board, one member appointed by Glascock County Library Board, one member appointed by Lincoln County Library Board, six members appointed by Richmond County Library Board and one member appointed by Warren County Library Board. 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 East Central Georgia Regional 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 East Central Georgia Regional 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 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.

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EAST CENTRAL GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT "G"

Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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.
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.
Capital Projects Fund accounts for financial resources including grants from Federal and State sources to be used for the acquisition, construction or renovation of major capital facilities.
Permanent Fund - Young Men's Library Association Fund is 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 exclusively for the operation of the Augusta-Richmond County Public Library.
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
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EAST CENTRAL GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT"G"

Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
accrual. Expenditures are recorded when the related fund liability is incurred, except for compensated absences, which are recognized as expenditures to the extent they have matured. Capital asset acquisitions are reported as expenditures in governmental funds.
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 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 ofreturn 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 of Georgia, Office of Treasury and Fiscal Services,
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EAST CENTRAL GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT"G"

Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(7) Repurchase agreements, and

(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 ofthe 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

Equipment Library Collections

$

10,000 5 to 10 years

$ 100,000

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 ofthe face value of such surety bond and the market value of securities pledged shall be equal to not less than

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EAST CENTRAL GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT "G"

Note 3: DEPOSITS AND INVESTMENTS
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 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 $2,562,684. The amounts ofthe total bank balances are classified into four categories of custodial credit risk:
Category 1 - Cash that is insured (e.g., Federal Deposit Insurance) or collateralized with securities held by the Library or by the Library's agent in the Library's name.
Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Library's name.
Category 3 - Cash collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Library's name.
Category 4 - Uncollateralized.

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EAST CENTRAL GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT"G"

Note 3: DEPOSITS AND INVESTMENTS

The Library's deposits are classified by custodial credit risk category at June 30, 2006, as follows:

Custodial Credit Risk Category

Bank Balance

1

$ 233,172

2

0

3

2,329,512

4

0

Total

$ 2,562.684

CATEGORIZATION OF INVESTMENTS Custodial Credit Risk Custodial credit risk for investments is the risk that, in the event ofa failure ofthe counterparty to a transaction, the Library will not be able to recover the value ofthe investment or collateral securities that are in the possession of an outside party. The Library does not have a formal policy for managing custodial credit risk.

Investments are classified as to custodial credit risk by the categories described below:

Category 1 - Insured or registered, or securities held by the Library or the Library's agent in the Library's name.
Category 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the Library's name.
Category 3 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent, but not in the Library's name.

Funds invested in Equity Mutual Funds (open-end mutual funds) are not required to be classified by categories of custodial credit risk.

At June 30, 2006, the carrying value of the Library's investments was $56,304 which is materially the same as fair value. Fair value is based on quoted market prices, unless otherwise noted. The investments are classified as to custodial credit risk categories as follows:

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EAST CENTRAL GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT"G"

Note 3: DEPOSITS AND INVESTMENTS

Type oflnvestment

Debt Securities Corporate Debt

$=====0

Other Investments Equity Mutual Funds (Open-End)

Total Investments

Risk Categories

2

3

Carrying Amount

Fair Value

$ 37.678

$=====0 $

37,678 $
18,626
56.304 $

37,678
18,626
56.30~

Interest Rate Risk Interest rate risk is the risk that changes in interest rates of debt investment will adversely affect the fair value of an investment. The Library does not have a formal policy for managing interest rate risk.

Investments are classified as to investment maturity as follows:

Investment Type

Fair Value

Investment Maturity
1- 5 Years

Debt Securities Corporate Debt

$

37,678 $===37~,6-7='=8

Credit Quality Risk Credit quality risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. The Library does not have a formal policy for managing credit quality risk.

The Library's investments of$18,274 in Ford Motor Credit Corporation corporate bonds were rated BA by Moody's Investors Service and B+ by Standard and Poors. Investments of $19,404 in General Motors Acceptance Corporation corporate bonds were rated BA by Moody's Investors Service and BB by Standard and Poors.

Concentration of Credit Risk Concentration of credit risk is the risk of loss attributed to the magnitude of a government's investment in a single issuer. The Library does not have a formal policy for managing concentration of credit risk.

More than 5 percent ofthe Library's investments are in Ford Motor Credit Corporation and General Motors Acceptance Corporation corporate bonds. These investments are 32.46 percent and 34.46 percent, respectively, of the Library's total investments.

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EAST CENTRAL GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT "G"

Note 4: CAPITAL ASSETS

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

Governmental Activities Capital Assets Being Depreciated
Equipment Library Collections
Less Accumulated Depreciation for: Equipment Library Collections
Governmental Activity Capital Assets - Net

Balances
July 1. 2005

Increases

Decreases

Balances June 30. 2006

$ 143,705 13,783,086 $

482,104 $

$ 143,705 565,351 13,699,839

119,367 10,858.712
$ 2,2~8,Z12 $

2,493 398,669
80,242 $

565,351

121,860 10,692.030

Q $ 3,022,654

Current year depreciation expense by function is as follows:

Public Services
~
Note 5: RESTRICTED ASSETS

$==!4==01-=16==2

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 or statutory provisions. Restricted assets at June 30, 2006, were as follows:

Permanent Fund

Restricted Investments Young Men's Library Association

$

89,476

Note 6: INTERFUND TRANSFERS

Interfund transfers for the year ended June 30, 2006, consisted of the following:

Transfer to

Transfers From Capital Projects

General Fund

$=====1==49-,0=-4==2

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EAST CENTRAL GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT"G"

Note 6: INTERFUND TRANSFERS

Transfers are used for the repayment of prior year local funds on completed capital construction projects.

Note 7: 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; acts of God and unemployment compensation.

The Library has obtained commercial insurance for risk ofloss associated with torts and assets. 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 Augusta/Richmond County Commissioners are providing commercial insurance for risk ofloss associated with acts of God and the Commissioners are providing through self-insurance for the Library's risk ofloss associated with errors or omissions, job related illness or injuries to employees and unemployment compensation.

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

Position Covered

Amount

All Employees

$

75,000

Note 8: LONG-TERM DEBT

COMPENSATED ABSENCES Compensated absences represent obligations of the Library relating to employees' rights to receive compensation for future absences based upon service already rendered. This obligation relates only to vesting accumulating leave in which payment is probable and can be reasonably estimated. The Library uses the vesting method to compute compensated absences.

The changes in Long-Term Debt during the fiscal year ended June 30, 2006, were as follows:

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EAST CENTRAL GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT "G"

Note 8: LONG-TERM DEBT

Governmental Funds
Compensated Absences ( 1)

Balance July 1, 2005
Additions Annual Leave Earned
Deductions Annual Leave Utilized

$ 108,199 12,673 2,406

Balance June 30, 2006

(1) The portion of Compensated Absences due within one year has been determined to be immaterial to the basic financial statements.

Note 9: SIGNIFICANT CONTINGENT LIABILITIES

The Library is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Library operations. The ultimate disposition of these proceedings is not presently determinable, but is not believed to be material to the basic financial statements.

Note 10: 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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EAST CENTRAL GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2006

EXHIBIT"G"

Note 10: RETIREMENT PLANS

Fiscal Year

Percentage Contributed

Required Contribution

2006 2005 2004

100% 100% 100%

$ 178,343 $ 172,158 $ 161,804

Note 11: AFFILIATED LIBRARIES DISCLOSURE

The Burke County Library, Columbia County Library, Lincoln County Library and Warren County Library are legally separate, tax exempt organizations who participate in shared activities with the East Central Georgia Regional Library. These affiliated libraries do not meet the criteria for reporting as either a component unit or related entity ofthe East Central Georgia Regional Library.

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EAST CENTRAL GEORGIA REGIONAL LIBRARY GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 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
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES
Transfer In
Net Change in Fund Balance
Fund Balance - Beginning

NONAPPROPRIATED BUDGETS

ORIGINAL

FINAL

ACTUAL AMOUNTS

$

2,422,591 $

2,422,591 $

2,718,935

1,279,451

1,279,451

1,263,977

12,915

181,806

45,000

45,000

70,949

203 600

203,600

269 271

$

3,950,642 $

3,950,642 $

4,517,853

$

2,055,471 $

2,055,471 $

2,368,437

394,495

394,495

413,536

373,750

373,750

825,324

402,738

402,738

444,405

77 726

77 726

257 404

$

3,304,180 $

3,304,180 $

4 309106

$

646,462 $

646,462 $

208,747

149 042

$

646,462 $

646,462 $

357,789

211 247

211 247

1,062,909

Fund Balance - Ending

$

857 709 $

857709 $===1=,4=2=0=,6=98=

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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EAST CENTRAL GEORGIA REGIONAL LIBRARY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2006

SCHEDULE "2"

AGENCY/FUNDING
GRANTS Board of Regents of the University System of Georgia Office of Public Library Services Salaries Library Materials Maintenance and Operations Talking Book Centers Capital Projects Burke County Library

GOVERNMENTAL FUND TYPES

CAPITAL

GENERAL

PROJECTS

FUND

FUND

TOTAL

$

865,668

$

121,558

175,241

101,510

- - - - - $ _ _4__6_1~7_7~0

865,668 121,558 175,241 101,510
461 770

$

1,263,977 $

461770 $======-1=72=5=7=4==7

See notes to the basic financial statements.

-22-

EAST CENTRAL GEORGIA REGIONAL LIBRARY SCHEDULE OF FEDERAL REVENUE YEAR ENDED JUNE 30, 2006

SCHEDULE "3"

AGENCY/FUNDING
GRANT Museum and Library Services, Institute of Through Board of Regents of the University System of Georgia Library Services and Technology Act Vacation Reading Program

GOVERNMENTAL FUND TYPE GENERAL FUND
$ ====1==2=9==1==5

See notes to the basic financial statements.

-23-

EAST CENTRAL GEORGIA REGIONAL LIBRARY SCHEDULE OF LOCAL REVENUE YEAR ENDED JUNE 30, 2006

SCHEDULE "4"

LOCAL SOURCES Board of Education Glascock County County Governments Boards of Commissioners Burke Lincoln Richmond Warren County Libraries Burke Columbia Lincoln Warren

GOVERNMENTAL FUND TYPE GENERAL FUND

$

600

67,838 3,500
2,263,291 1,716
29,239 345,337
3,114 4 300

$ ====-2,=71=8=,9=35=

See notes to the basic financial statements.

-24-

NAME
Allen, Gloria Allison, Sandra Almond, Tandra Anderson, Helen Armstong, Cheryl Ashworth, Nicole Askew, Bettina Atkinson, Patricia Barron, Deborah Beachum, Mary Beck, Linda Bell, Audrey Benson, Kenneth Bess, Dorcas Blaker. Karen Bradley, Felicia Brooks, William Brown, Jessica Brown, Monica Burton, Jennifer Calderon, Alexandria Caleb, Harry Carter, Kenyata Carver, Nancy Casteen, Eileen Chavous, Karla Christie, Shirely Clement, Lisa Cooper, Kimberly Courtney, Joanne Crosson, Kathleen Daniels, Alexandria Dawson, Betty Dearborn, Wanda Demarest, Dorothy Downs, Gregory Dunbar, Kristen Dunbar, Terry Dunn, LeKeva Eaton, Barbara Evans. Diane Farney, Katherine Fashion, Mashell Feinberg, Jennie Flanagan, Torieca Floyd, Tanurekia Fortson, Carolyn Furdyna, Brandy Gay, June Gibbs, Marquita Gonzalez, Jonathan Goodwin, Jennifer Grant, Felicia Gray, Susan Kaiser Gray, William Greene, Janet Hall, William

EAST CENTRAL GEORGIA REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL YEAR ENDED JUNE 30, 2006

SCHEDULE "5"

TITLE CATEGORY
Library Assistant I Library Assistant II Library Assistant Ill Library Assistant IV Library Assistant II Student Assistant Library Assistant Ill Library Assistant I Administrative Assistant II Head of Extension Librarian I Administrative Assistant I Library Assistant IV Head of Circulation Librarian II Student Assistant Custodian I Student Assistant Student Assistant Student Assistant Student Assistant Custodian I Student Assistant Head of Information Library Assistant Ill Library Assistant Ill Library Assistant IV Student Assistant Library Assistant I Print Shop Operator Administrative Assistant I Library Assistant II Library Assistant II Administrative Assistant Ill Librarian II Library Assistant II Student Assistant Library Assistant I Student Assistant Head of Technical Services Library Assistant I Librarian II Facilities Librarian Librarian II Student Assistant Student Assistant Head of Children's Services Student Assistant Library Assistant I Student Assistant Student Assistant Student Assistant Student Assistant Library Assistant Ill Administrative Assistant II Administrative Assistant II Student Assistant
- 25-

SALARIES

TRAVEL

$

25,677

18,179

20,746

29,833

20,692

4,222

10,593

19,407

37,724

72,763 $

458

38,742

34,462

6,832

64,631

23,492

3,759

8,458

409

21

4,034

332

2,371

896

2,643

56,977

770

19,538

7,851

254

22,789

83

23,892

29,105

21,650

21,975

3,083

36,805

22,495

108

4,076

28,355

116

64,631

139

24,364

46

7,229

64,263

350

37,614

2,057

2,847

62,453

367

1,302

22,903

536

1,288

9,746

112

4,908

14,478

25,738

32,316

2,328

NAME
Hand, Gary Hanson, Ashley Harris, Claire Harris, Donna Harvey-Philpot, Shari Heard, Shaquanna Hollimon, Brenda Holmes, Brenda Ingram, Saralyn Jackson, Anita Jarmon, Anita Jenkins, Betty Jenkins, Enrikki Jenkins, Shanta Joseph, Cathy Kelley. Chastity Kendrick, James Lee, Roderick Leonard, Melissa Liner, Russell Lively, Linda Lovett, Tamara Mack, Karen McCoy, Eileen McCray, Annie Moore, Kate Morgan, Leketa Orsley, Kasheena Owens, Tonia Patterson, Shelley Perez, Misty Pryor, Keisha Pulley, Natalie Rapp, Tiffany Reese, Britany Rice, LaShette Riley, Jossie Santiago, Talia Schutz, Deana Scurry, Paulette Sheil, Julie Sherman, David Shorter, lnetha Shorter, Jameliah Sligh, Tamaria Smith, Evelyn Stallings, Jennifer Strother, Timothy Swearingen, Arnie Swearingen, Julie Swint, Gary Tucker, Michelle Walker, Alice Wells, Tiffany White, Vanessa Wiggins, LaTasha Wilder, Roberta

EAST CENTRAL GEORGIA REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL YEAR ENDED JUNE 30, 2006

SCHEDULE "5"

TITLE CATEGORY
Student Assistant Administrative Assistant Ill Student Assistant Library Assistant II Student Assistant Student Assistant Library Assistant I Library Assistant I Community Services Librarian Administrative Assistant I Administrative Assistant I Library Assistant I Custodian I Student Assistant Administrative Assistant II Student Assistant Student Assistant Library I Record Clerk Ill Librarian II Library Assistant II Student Assistant Student Assistant II Student Assistant Ill Secretary I Student Assistant Library Assistant Ill Student Assistant Administrative Assistant II Adult Materials Selector Library Assistant II Student Assistant Library Assistant II Library Assistant Ill Student Assistant Library Assistant Ill Library Assistant IV Student Assistant Library Assistant IV Administrative Assistant I Library Assistant Ill Student Assistant Student Assistant Student Assistant Student Assistant Library Assistant IV Library Assistant II Library Assistant II Library Assistant II Library Aide Director Student Assistant Assistant Director Student Assistant Student Assistant Student Assistant Systems Administrator
- 26-

SALARIES

TRAVEL

$

14,769

2,338

1,644

26,390

453

2,200

26,542

26,902

64,631 $

87

630

1,563

34,420

6,109

160

20,371

32

242

605

30,674

22,284

36,364

30,265

927

15,707

40

7,536

32,015

3,635

19,538

4,944

27,623

64,031

3,916

4,686

16,366

19,538

74

4,368

7,378

1,843

4,819

22,661

2,906

4,104

1,825

3,961

1,475

7,473

21,650

13

21,650

1,650

6,578

105,873

1,910

779

74,023

47

3,961

1,612

3,719

64,631

325

Winburn, Karen Wright, LaDasha Young, Victoria
Totals per Report

EAST CENTRAL GEORGIA REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL YEAR ENDED JUNE 30, 2006

SCHEDULE "5"

TITLE CATEGORY
Library Assistant Ill Student Assistant Library Assistant Ill

SALARIES

$

2,783

3,894

19 734

TRAVEL

$

2,096,683 $ ===4=5=2=6

See notes to the basic financial statements.

- 27-

SECTION II AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS

EAST CENTRAL GEORGIA REGIONAL LIBRARY AUDITEE'S RESPONSE
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2006

PRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS

FINDING CONTROL NUMBER AND STATUS

FS-7212-04-01 FS-7212-05-01

Previously Reported Corrective Action Implemented Previously Reported Corrective Action Implemented