FLINT RIVER REGIONAL LIBRARY GRIFFIN# GEORGIA REPORT ON AUDIT OF THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30# 2004 STATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS Russell W. Hinton State Auditor FLINT RIVER REGIONAL LIBRARY - TABLE OF CONTENTS - SECTION I 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 3 B STATEMENT OF ACTIVITIES 4 FUND FINANCIAL STATEMENTS C BALANCE SHEET GOVERNMENTAL FUND 5 D RECONCILIATION OF THE GOVERNMENTAL FUND BALANCE SHEET TO THE STATEMENT OF NET ASSETS 6 E STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUND 7 F RECONCILIATION OF THE GOVERNMENTAL FUND 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 SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL FUND 17 SUPPLEMENTARY INFORMATION SCHEDULES OF REVENUE 2 STATE 18 3 FEDERAL 19 4 LOCAL 20 5 SCHEDULE OF SALARIES AND TRAVEL 21 FLINT RIVER REGIONAL LIBRARY - TABLE OF CONTENTS - 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 254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 June 1, 2005 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 Flint River 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 ofthe governmental activities and the major fund (Exhibits A through G) ofthe Flint River Regional Library as ofand for the year ended June 30, 2004, which collectively comprise the Library's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the Flint River 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 of the governmental activities and the major fund of the Flint River Regional Library, as ofJune 30, 2004, and the respective changes in financial position thereoffor the year then ended in conformity with accounting principles generally accepted in the United States of America. 2004ARL-41 The Flint River Regional 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. As discussed in Note 2 to the basic financial statements, during fiscal year 2004, the Library completed a comprehensive inventory of its capital assets for inclusion in the basic financial statements. This change is in accordance with generally accepted accounting principles. As described in Note 2, the Flint River Regional Library has implemented a new financial reporting model as required by provisions of Governmental Accounting Standards Board Statement No. 34, Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments, as of June 30, 2004. The Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual, as presented on page 17 is not a required part of the basic financial statements but is supplementary information required by the accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods ofmeasurement and presentation ofthe required supplementary information. However, we did not audit the information and express no opinion on it. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Flint River 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 ofthis report has been filed as a permanent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code of Georgia Annotated section 506-24. Respectfully submitted, RWH:gp 2004ARL-41 State Auditor FLINT RIVER REGIONAL LIBRARY FLINT RIVER REGIONAL LIBRARY STATEMENT OF NET ASSETS JUNE 30, 2004 ASSETS Cash and Cash Equivalents Capital Assets Equipment Library Collections Less: Accumulated Depreciation Total Assets NET ASSETS Invested in Capital Assets, Net of Related Debt Unrestricted Total Net Assets EXHIBIT"A" GOVERNMENTAL ACTIVITIES $ 633,061 51,859 7,871,511 -5,708,609 $ ======2=,8=4=7!=,8=22= $ 2,214,761 633,061 $ ======2~,8=4='7'6=82=2~ The notes to the basic financial statements are an integral part of this statement. -3- FLINT RIVER REGIONAL LIBRARY STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30. 2004 EXHIBIT"B" EXPENSES PROGRAM REVENUES OPERATING CHARGES FOR GRANTS AND SERVICES CONTRIBUTIONS NET (EXPENSES) REVENUES AND CHANGES IN NET ASSETS GOVERNMENTAL ACTIVITIES Current Services Public Services Technical Services Support Services Maintenance and Operations Information Technology Total Governmental Activities $ 1,022,629 $ 59,458 182,572 124,685 335 $ 1,389,679 $ 21,435 $ 21 435 $ 796,302 $ 141,422 -204,892 -59,458 -182,572 16,737 -335 937 724 $ _ _ _ _-4_3_0~,5_2_0 General Revenues Allotments from Participating Governments Investment Earnings Miscellaneous $ 539,715 3,730 5 963 Total General Revenues $ _ _ _ _5_49~4_0_8_ Change in Net Assets $ 118,888 Net Assets - Beginning of Year 2 728 934 Net Assets - End of Year $ ====2..,8.,.47.....,82..2. .,. The notes to the basic financial statements are an integral part of this statement. - 4- FLINT RIVER REGIONAL LIBRARY BALANCE SHEET GOVERNMENTAL FUND JUNE 30, 2004 ASSETS Cash and Cash Equivalents FUND BALANCES Unreserved Undesignated EXHIBIT"C" GENERAL FUND $===6=33='=06=1= $ ===6=33='=06=1= The notes to the basic financial statements are an integral part of this statement. -5- FLINT RIVER REGIONAL LIBRARY RECONCILIATION OF THE GOVERNMENTAL FUND BALANCE SHEET TO THE STATEMENT OF NET ASSETS JUNE 30. 2004 EXHIBIT"D" Total Fund Balance - Governmental Fund (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 $ 633,061 $ 51,859 7,871,511 -5,708,609 2,214,761 Net Assets of Governmental Activities (Exhibit "A") $ ====2'=84=7=,8=2=2 The notes to the basic financial statements are an integral part of this statement. -6- FLINT RIVER REGIONAL LIBRARY STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUND YEAR ENDED JUNE 30. 2004 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 $ 539,715 931,399 6,325 21,435 3,730 5963 $ 1,508,567 $ 1,060,833 59,458 182,572 124,685 335 $ 1,427,883 $ 80,684 552,377 $==6=3==3'=06=1= The notes to the basic financial statements are an integral part of this statement. -7- FLINT RIVER REGIONAL LIBRARY RECONCILIATION OF THE GOVERNMENTAL FUND STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES JUNE 30. 2004 EXHIBIT "F" Total Net Change in Fund Balance - Governmental Fund (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 $ $ 458,709 -420,505 80,684 38 204 Change in Net Assets of Governmental Activities (Exhibit "8") $ ====1=18=8=8=8 The notes to the basic financial statements are an integral part of this statement. -8- FLINT RIVER REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 EXHIBIT "G" Note 1: DESCRIPTION OF LIBRARY AND REPORTING ENTITY REPORTING ENTITY The Flint River 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 six members; one member appointed by Butts County Library Board, one member appointed by Fayette County Library Board, one member appointed by GriffinSpalding County Library Board, one member appointed by Lamar County Library Board, one member appointed by Monroe County Library Board and one member appointed by Pike County Library Board. 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 of local and other funds for continued operations and is the lowest level of oversight responsibility for the Library's operations. The Flint River 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 of the Flint River Regional Library. Library-wide Statements: The Statement ofNet Assets and the Statement ofActivities display information about the financial activities of the overall Library. Eliminations have been made to minimize the double counting of internal activities. Governmental activities generally are financed through intergovernmental revenues and other nonexchange transactions. The Statement of Activities presents a comparison between direct expenses and program revenues for each function of the Library's governmental activities. Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Indirect expenses (expenses of the Library related to the administration and support of the Library's programs, such as office and maintenance personnel and accounting) are not allocated to programs. -9- FLINT RIVER REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 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 fund: General Fund is the Library's primary operating fund. It accounts for all financial resources of the 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 of accounting. 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. Proceeds of acquisitions under capital leases are reported as other financing sources. - 10 - FLINT RIVER REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 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. CHANGES IN ACCOUNTING PRINCIPLES The Flint River Regional Library has implemented a new financial reporting model as required by provisions of Governmental Accounting Standards Board Statement No. 34, Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments, as of June 30, 2004. The provisions ofGASB Statement No. 34 require the inclusion of a Statement ofNet Assets. The elements comprising Net Assets - Beginning include the following: Governmental Funds July 1, 2003 Capital Assets Accumulated Depreciation $ 552,377 7,564,581 -5,388,024 Net Assets Beginning (See Exhibit "B") $ 2~728~934 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. 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. - 11 - FLINT RIVER REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 EXHIBIT "G" Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 Collection $ All if collection exceeds $ 5,000 100,000 7 to 10 years 10 years Depreciation is used to allocate the actual or estimated historical cost of all capital assets over estimated useful lives. Note 3: DEPOSITS 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 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. If a 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. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. 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, - 12 - FLINT RIVER REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 EXHIBIT "G" Note 3: DEPOSITS (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, 2004, the bank balances were $710,388. The amounts of the total bank balances are classified into three categories of credit risk: Category 1 - Cash that is insured (e.g., Federal depository 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 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Library's name.) The Library's deposits are classified by risk category at June 30, 2004, as follows: Risk Category Bank Balance 1 $ 100,000 2 610,388 3 0 Total Note 4: CAPITAL ASSETS $======7=10=,3=8=8 The following is a summary of changes in the Capital Assets during the fiscal year: - 13 - FLINT RIVER REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 EXHIBIT"G" Note 4: CAPITAL ASSETS Governmental Activities Capital Assets Being Depreciated Equipment Library Collection Less Accumulated Depreciation for: Equipment Library Collection Total Governmental Activity Capital Assets, Being Depreciated, Net Balances July 1, 2003 (Restated) Increases Decreases Balances June 30, 2004 $ 51,859 7,512,722 $ 458,709 $ $ 51,859 99,920 7,871,511 40,252 5,347,772 5,187 415,318 99 920 45,439 5,663,170 $ 2,176,557 $ 38,204 $ 0 $ 2,214,761 Current year depreciation expense by function is as follows: Governmental Funds Public Services $=====4==20-,5==0==5 Note 5: 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. Spalding County Government provides insurance coverage for the risk ofloss associated with assets for the Library operations within their county. The Library has elected to self-insure for all losses related to acts of God. The Library has not experienced any losses related to these risks in the past three years. The Library is self-insured with regard to unemployment compensation claims. The Library accounts for claims within the General Fund with expenditures and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. The Library has not experienced any losses related to these risks in the past three years. The Library participates in the Association County Commissioners of Georgia-Interlocal Risk Management Agency, a public entity risk pool organized on October 1, 1987 to provide coverage for member property, automobile, general liability, law enforcement liability, public officials' liability, crime and boiler and machinery exposures for its member organizations. The Library pays an annual premium to the Agency for its property, automobile, general liability, public officials' liability, crime and boiler and machinery liability insurance coverage. Additional insurance coverage is provided - 14 - FLINT RIVER REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 EXHIBIT "G" Note 5: RISK MANAGEMENT through an agreement by the Agency with United States Fidelity and Guaranty Company to provide coverage for potential losses by the Agency in excess of $450,000 loss per occurrence, up to $2,000,000. 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 United States Fidelity and Guaranty Company to provide coverage for potential losses by the Fund in excess of $450,000 loss per occurrence, up to $2,000,000. The Library has purchased surety bonds to provide additional insurance coverage as follows: Position Covered Amount All Employees $ 50,000 Note 6: RETIREMENT PLANS TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) TRS PLAN DESCRIPTION Substantially all librarians and clerical personnel employed by regional and county libraries are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. TRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Library who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Library makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 9.24% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: Fiscal Year Percentage Contributed Required Contribution 2004 2003 2002 100% 100% 100% $ 66,474 $ 63,227 $ 64,423 - 15 - FLINT RIVER REGIONAL LIBRARY GENERAL FUND SCHEDULE OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL YEAR ENDED JUNE 30. 2004 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 $ 539,852 $ 539,852 $ 539,715 931,399 931,399 931,399 4,400 4,400 6,325 10,126 10,126 21,435 3,220 3,220 3,730 17 144 17144 5 963 $ 1 506 141 $ 1 506 141 $ 1,508,567 $ 1,075,178 $ 1,075,178 $ 1,060,833 59,798 59,798 59,458 180,287 180,287 182,572 117,026 117,026 124,685 335 335 335 $ 1,432,624 $ 1,432,624 $ 1,427 883 $ 73,517 $ 73,517 $ 80,684 -25 759 -25 759 552 377 Fund Balance - Ending $ 47 758 $ 47 758 $======6=3=3-=0=6=1 Notes to the Schedule of Revenues. Expenditures and Changes in Fund Balances Budget and Actual The accompanying schedule of revenues, expenditures and changes in fund balances budget and actual is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the fund financial statements. See notes to the basic financial statements. -17- FLINT RIVER REGIONAL LIBRARY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2004 AGENCY/FUNDING GRANTS Board of Regents of the University System of Georgia Office of Public Library Services Salaries Travel Library Materials Maintenance and Operation SCHEDULE 211 11 GOVERNMENTAL FUND TYPE GENERAL FUND $ 701,432 3,750 84,795 141,422 $ ====9=3=1=,3=9=9 See notes to the basic financial statements. - 18 - FLINT RIVER REGIONAL LIBRARY SCHEDULE OF FEDERAL REVENUE YEAR ENDED JUNE 30, 2004 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 $ =====6:!:3=2=5 See notes to the basic financial statements. - 19 - FLINT RIVER REGIONAL LIBRARY SCHEDULE OF LOCAL REVENUE YEAR ENDED JUNE 30, 2004 LOCAL SOURCES City Governments Barnesville Peachtree City Tyrone County Boards of Education Griffin-Spalding Pike County Governments Butts Fayette Monroe Pike Spalding Public Libraries Lamar County Pike County SCHEDULE "4" GOVERNMENTAL FUND TYPE GENERAL FUND $ 12,065 56,898 26,000 5,000 2,866 25,908 194,451 25,977 11,230 172,720 5,050 1 550 $ ======5=39=7=1=5 See notes to the basic financial statements. - 20- NAME Barker, Lynette P. Brooks, Yvonne N. Colbert, Jack F. Corley, Linda A. Dupree, Ann C. Kimbrel, Adam S. Lindsey, Thomas M. Marshall, Vicki W. Millican, Earle Evans Murphy, Walter H. Parham, M. Marsha Roberts, Lucy R. Snell, Christeen M. Tingen, James D. Trautwein, Patricia W. Upole, John D. White, Belinda A. Williams, Daniel C. Totals per Report FLINT RIVER REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL YEAR ENDED JUNE 30, 2004 SCHEDULE "5" TITLE CATEGORY Data Entry Operator Data Processing Assistant Public Services Librarian Public Services Librarian Public Services Librarian Library Page Library Page Public Services Librarian Public Services Librarian Director Children's Librarian Public Services Assistant Branch Manager Coordinator, Public Services Library Page Library Page Public Services Assistant Public Services Librarian SALARIES TRAVEL $ 25,200 17,600 52,501 $ 55,050 55,050 2,875 247 58,503 53,446 123,004 60,154 15,176 60,766 60,766 5,000 3,223 22,152 55,050 659 1,253 59 1,437 199 125 19 $ 725,763 $ =======3:!.:7=5=1 See notes to the basic financial statements. - 21 - SECTION II FINDINGS AND QUESTIONED COSTS FLINT RIVER REGIONAL LIBRARY AUDITEE'S RESPONSE SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2004 PRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS FINDING CONTROL NUMBER AND STATUS 7262-93-01 Previously Reported Corrective Action Implemented