Audit report, Oconee Regional Library, Dublin, Georgia, year ended June 30, 1995

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STATE OF GEORGIA DEPARTMENT OF AUDITS
254 WASHINGTON STREET ATLANTA. GEORGIA 30334

AUDIT REPORT OCONEE REGIONAL LIBRARY
DUBLIN, GEORGIA YEAR ENDED JUNE 30, 1995

OCONEE REGIONAL LIBRARY - TABLE OF CONTENTS -

SECTION I

FINANCIAL

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

EXHIBITS

GENERAL PURPOSE FINANCIAL STATEMENTS

COMBINED STATEMENTS - OVERVIEW

A

COMBINED BALANCE SHEET

ALL FUND TYPES

3

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

AND EXPENDABLE TRUST FUND

4

C

STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

GENERAL AND SPECIAL REVENUE FUNDS

6

D

COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN

FUND BALANCES

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS

7

E

COMBINED STATEMENT OF CASH FLOWS

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS

8

F NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

9

ADDITIONAL FINANCIAL INFORMATION

COMBINING AND INDIVIDUAL FUND STATEMENTS

SPECIAL REVENUE FUND

G

COMBINING BALANCE SHEET

18

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

19

CAPITAL PROJECTS FUND

I

COMBINING BALANCE SHEET

20

J

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

21

FIDUCIARY FUND TYPES

K

COMBINING BALANCE SHEET

22

L

STATEMENT OF CHANGES IN ASSETS AND LIABILITIES

AGENCYFUND

24

OCONEE REGIONAL LIBRARY - TABLE OF CONTENTS -

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

1 CASH AND CASH EQUIVALENTS

25

2 ACCOUNTS RECEIVABLE

26

SCHEDULE OF REVENUE

3

STATE

27

4

FEDERAL

28

5

LOCAL AND OTHER

29

SCHEDULE OF EXPENDITURES BY OBJECT

6

GOVERNMENTAL FUND TYPES

30

7

LOTTERY PROGRAMS

31

8 MEMBERSHIP OF LIBRARY BOARD

32

9 SCHEDULE OF SALARIES AND TRAVEL

33

SECTION II FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS

SECTION III PERTINENT VIEWS OF RESPONSIBLE OFFICIALS PERTINENT VIEWS OF RESPONSIBLE OFFICIALS

SECTION I FINANCIAL

CLAUDE L. VICKERS
STATE AUDITOR (404) 656-2174

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
January 26, 1996

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Director and Members ofthe Oconee Regional Library Board
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION
Ladies and Gentlemen:
We have audited the general purpose financial statements (Exhibits A through F) of the Oconee Regional Library, as of and for the year ended June 30, 1995, as listed in the table of contents. These financial statements are the responsibility ofthe Library's management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free ofmaterial 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 opinion.
As described in the notes to the general purpose financial statements, the Library's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. This variance is described as follows:
* The general purpose financial statements of the Library did not contain a General Fixed Assets Account Group to account for property, _equipment and inexhaustible collections and books owned by the Library which should be included to conform to generally accepted accounting principles.
The aggregate effects on the general purpose financial statements of this variance or omission has not been determined, but is believed to be material.
95ARL-42

In our opinion, except for the effect on the general purpose financial statements of the matter referred to in the third paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Oconee Regional Library as of June 30, 1995, and the results of its operations and the cash flows of its nonexpendable trust funds for the year then ended, in conformity with generally accepted accounting principles.
Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements ofthe Oconee Regional Library taken as a whole. The combining and individual fund statements (Exhibits G through L) and the financial schedules (Schedules I through 9), as listed in the table of contents, are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the Oconee Regional Library. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, except for the effects of the matters discussed in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole.
A copy ofthis 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,
~~
Claude L. Vickers State Auditor
CLV:dt 95ARL-42

OCONEE REGIONAL LIBRARY - 1-

QQONEE REGIONAL LIBRARY COMBINED BALANCE SHEET
ALL FUND TYPES JUNE 30 1995

EXHIBIT"A"

ASSETS Cash and Cash Equivalents Accounts Receivable

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

FIDUCIARY FUND TYPES TRUST AND AGENCY FUNDS

TOTALS {Memorandum On~ JUNE 30, 1995 JUNE 30, 1994

$

69,606.87 $

0.00

$

34,494.56 $ 104,101.43 $

76,485.69

385.70

$

10,500.00

10,885.70

8 401.00

Total Assets

$

69,992.57 $

0.00 $

10,500.00 $

34 494.56 $ 114 987.13 $

84886.69

LIA~lblTIE AND F!,!ND EQ!.!ITY
LIABILITIES
Cash Overdraft Accounts Payable Expired Grant Balances Payable Unearned Lottery Funds Funds Held for others
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Endowment Corpus For state Capital Outlay Projects Unreserved Undesignated
Total Fund Equity

$

8,280.05

1,308.04

$

9588.09

$

60 404.48 $

$

60404.48 $

Total Liabilities and Fund Equity

$

69,992.57 $

$

5,554.68

$

$

5 554.68 $

$
1 302.53 1 302.53 $

5,554.68 $ 8,280.05 1,308.04
1,302.53
16 445.30 $

1,969.75 7,070.53
325.60 1 269.51
10 635.39

$ 0.00 0.00 $

$ 4,945.32
4 945.32 $

0.00 $

10,500.00 $

17,789.81 $
15 402.22 33192.03 $

17,789.81 $ 4,945.32
75 806.70
98 541.83 $

16,789.10
57 462.20 74 251.30

34 494.56 $ 114987.13 $

84 886.69

The notes to the general purpose financial statements are an integral part of this statement. -3 -

OCONEE REGIONAL LIBRARY COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND
YEAR ENDED JUNE 30, 1995

REVENUES
State Funds Federal Funds Local and Other Funds
Total Revenues
EXPENDITURES
Current Program Services Technical Services Circulation Administration Maintenance and Operations
Capital Outlay
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES (USES)
Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
FUND BALANCE JULY 1

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

$ 448,245.32 $ 227.55
466,980.24
$ 915,453.11 $

18,917.87 19,000.00
$
37,917.87 $

49,560.21 49,560.21

$ 393,127.11 $ 104,635.63 78,680.04 248,033.48 70,154.80

$ 894,631.06 $

$

20,822.05 $

18,921.48
18,996.39 $
37,917.87 $ 0.00 $

48,687.29 48,687.29
872.92

$

20,822.05 $

39,582.43

0.00 $ 0.00

872.92 4,072.40

FUND BALANCE JUNE 30

$

60,404.48 $

0.00 $ =====4,=94=5=.3=2

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

EXHIBIT"B"

TOTAL

FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND

TOTALS (Memorandum Only)
YEAR ENDED JUNE 30, 1995 JUNE 30, 1994

$ 467,163.19

$ 467,163.19 $ 568,334.20

19,227.55

19,227.55

36,430.00

516,540.45 $ _ _ _4_9_8._82_

517,039.27

422,891.57

$ 1,002,931.19 $ _ _ _49_8...;;..8=-2 $ 1,003,430.01 $ 1,027,655.77

$ 412,048.59 $ 104,635.63 78,680.04 267,029.87 70,154.80 48,687.29

$ 981,236.22 $

$

21,694.97 $

0.00 $
0.00 $ 498.82 $

412,048.59 $ 104,635.63
78,680.04 267,029.87
70,154.80 48,687.29

384,939.68 95,607.06 59,986.29
423,807.00 85,102.74 6,162.27

981,236.22 $ 1,055,605.04

22,193.79 $

-27,949.27

$

11,500.00

-11,500.00

$

0.00

$

21,694.97 $

498.82 $

22,193.79 $

-27,949.27

43,654.83

12,170.22

55,825.05

83,774.32

$

65,349.80 $

12,669.04 $

78,018.84 $

55,825.05

-5-

OCONEE REGIONAL LIBRARY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL GENERAL AND SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30, 1995

EXHIBITc

REVENUES
State Fund&
Federal Funds Local and Other Fund&
Total Revenues
EXPENDITURES
Current Program Services Technical Services Circulation Administration Maintenance and Operations
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES (USES}
Other Sources Other Uses
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
FUND BALANCE JULY 1, 1994

GENERAL FUND

BUDGET

ACTUAL

$ 460,370.58 $ 421,007.69
$ 881,378.27 $

448,245.32 227.55
466,980.24
915,453.11

$ 362,931.39 $ 99,415.99 72,841.71 261,479.63 87,749.21

$ 884,417.93 $

$

-3,039.66 $

393,127.11 104,635.63
78,680.04 248,033.48
70,154.80
894,631.06
20,822.05

$

9,625.66 $

-6,586.00

$

3,039.66 $

0.00 0.00

$

0.00 $

20,822.05

0.00

39,582.43

FUND BALANCE JUNE 30. 1995

s____o_.oo_s 60,404.48

SPECIAL REVENUE FUND

BUDGET

ACTUAL

$ 18,917.87

$ 19,000.00

19,000.00

$

19,000.00 $

37,917.87

$ 18,921.48

$

19,000.00

18,996.39

$

19,000.00 $

37,917.87

$

0.00 $

0.00

$

0.00 $

0.00

$

0.00 $

0.00

$

0.00 $

0.00

0.00

0.00

s_~__o_.oo_ s_____o_.oo_

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

OCONEE REGIONAL LIBRARY
COMBINED STATEMENT OF REVENUES EXPENSES AND CHANGES IN FUND BALANCES
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS
YEAR ENDED JUNE 30, 1995

. EXHIBIT "D"

OPERATING REVENUES None Recorded
OPERATING EXPENSES None Recorded Operating Income (Loss)
NONOPERATING REVENUES Interest Earned Total Income (Loss)
FUND BALANCE JULY 1

ENDOWMENT FUNDS

MAROYC.

JONES

SAM CONYERS MEMORIAL

FUND

FUND

WILSON MEMORIAL
FUND

TOTALS {Memorandum On~
YEAR ENDED JUNE 30, 1995 JUNE 30, 1994

$

0.00 $

0.00 $

0.00 $

0.00 $

0.00

$

0.00 $

0.00 $

$

0.00 $

0.00 $

0.00 $

0.00 $

0.00

0.00 $

0.00 $

0.00

95.32

$

95.32 $

3,663.35

347.17 347.17 $ 2,a21.n

1,654.25 1,654.25 $ 11,941.13

2,096.74 2,096.74 $ 18,426.25

85.62 85.62 18,340.63

FUND BALANCE JUNE 30

$

3,758.67 $

3,168.94 $

13,595.38 $

20,522.99 $==1=8,=426===.25=

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

OCONEE REGIONAL LIBRARY COMBINED STATEMENT OF CASH FLOWS FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS
YEAR ENDED JUNE 30. 1995

EXHIBITE

cash Flows from Operating Activities: No Operating Activities Recorded
Cash Flows from Investing Activities: Interest Received on Investments
Net Increase (Decrease) in Cash
Cash and Cash Equivalents - July 1

ENDOWMENT FUNDS

MAROYC.

JONES

WILSON

SAM CONYERS MEMORIAL

MEMORIAL

FUND

FUND

FUND

TOTALS (Memorandum Only)
YEAR ENDED JUNE 30, 1995 JUNE 30, 1994

$

0.00 $

0.00 $

0.00 $

0.00 $

0.00

$

95.32 $

$

95.32 $

$

3.663.35 $

347.17 $ 347.17 $ 2,821.n $

1.654.25 $ 1.654.25 $ 11.941.13 $

2.096.74 $ 2.096.74 $ 18.426.25 $

85.62 85.62 18.340.63

Cash and Cash Equivalents - June 30

$

3,758.67 $

3,168.94 $

13,595.38 $

20,522.99 $ 18,426.25

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

OCONEE REGIONAL LIBRARY

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Oconee Regional Library operates pursuant to Official Code of Georgia Annotated Sections 20-5-40 through 20-5-59 to provide public library services with costs shared by participating local governmental agencies and grants from the State of Georgia. With the exception of the departures from generally accepted accounting principles disclosed in these notes, the financial statements of the Library have been prepared in conformity with generally accepted accounting principles as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles.
The more significant ofthe Library's accounting policies are described below.
REPORTING ENTITY
In evaluating how to define the government unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, "Defining the Financial Reporting Entity". Based upon the application of the above criteria, the Oconee Regional Library is determined to be a joint venture.
The Library Board consists of 16 members; 4 members appointed by Laurens County Library Board, 3 members appointed by Johnson County Library Board, 3 members appointed by Treutlen County Library Board, 3 members appointed by Washington County Library Board, and 3 members appointed by Wheeler County Library Board. The 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 ofGeorgia for State and Federal funding. Membership in the Library and participation in library services is at the discretion of each participating governmental agency. The Board has the power to designate management, the power to retain unreserved fund balances of local funds for continued operations and is the lowest level of oversight responsibility for the Library's operations.
The Oconee Regional Library is located in Dublin, Georgia, and serves Johnson, Laurens, Treutlen, Washington, and Wheeler Counties.
FUND ACCOUNTING
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.
General Fixed Assets which includes the Library's inexhaustible collections and books, are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Library. To conform to generally accepted accounting principles, a General Fixed
- 9-

OCONEE REGIONAL LIBRARY

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Assets Account Group should be maintained for reporting the cost ofassets acquired by governmental fund types.
The general purpose financial statements account for all State, Federal, Local and Other funds under control ofthe Library, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds presented in this report are as follows:
GOVERNMENTAL FUND TYPES - used to account for all or most of the Library's general activities. Governmental Fund Types include:
GENERAL FUND - the fund used to account for all financial resources of the Library except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a Library.
SPECIAL REVENUE FUND - the fund used to account for the proceeds ofspecific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. The primary type of special revenue fund consists of proceeds received from State and Federal sources to accomplish specific objectives and are required to be accounted for separately.
CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities.
FIDUCIARY FUND TYPES - the trust and agency funds used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. These funds include:
NONEXPENDABLE TRUST FUNDS Sam Conyers Fund - the fund used to account for an endowment of which the corpus is to be invested and preserved intact with the resultant income to be transferred to the General Fund.
Maroy C. Jones Memorial Fund - the fund used to account for an endowment ofwhich the corpus is to be invested and preserved intact with the resultant income to be evenly split between an addition to principal and a transfer to the General Fund.
Wilson Memorial Fund - the fund used to account for the principal ofan endowment to be invested and preserved intact with the resultant income to b~ evenly split between an addition to principal and a transfer to the General Fund.
EXPENDABLE TRUST FUND Self- Insured Employee Benefit Fund - the fund used to account for the Unemployment Compensation Account.
- 10 -

OCONEE REGIONAL LIBRARY

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
AGENCY FUND - the fund used to account for assets held for other funds, governments, or individuals.
BASIS OF ACCOUNTING
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds and the expendable trust fund are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities are generally included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources.
Liabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds.
All nonexpendable trust funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and liabilities associated with the operation of these funds are included on the balance sheet. Operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets.
The agency fund is purely custodial in nature and does not involve measurement of results of operations.
Governmental funds and the expendable trust fund are accounted for using the modified accrual basis of accounting under which:
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount ofthe transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Those revenues considered susceptible to accrual are intergovernmental grants and investment income.
Expenditures are generally recognized when the related fund liability is incurred.
The accrual basis of accounting as required by generally accepted accounting principles is utilized by the nonexpendable trust funds. Under the accrual basis of accounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred.
The agency fund is accounted for using the modified accrual basis of accounting in recognizing assets and liabilities.

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OCONEE REGIONAL LIBRARY

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BUDGET
The Oconee Regional Library's budget is a complete financial plan for the Library's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function, and object. The legal level of budget control was established by the Library at the aggregate level.
The budget process begins when the Library's administration prepares a tentative aggregated budget for the Board's approval. After approval of this tentative budget by the Board, copies are sent to all local funding agencies. After funding approval is received from all local funding agencies, the Board makes revisions as necessary and adopts the budget. The budget is then submitted to the Georgia Department of Education, Division ofPublic Library Services as a part ofthe Library's annual application for state aid. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year end.
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash equivalents consist ofdeposits (including certificates of deposit, savings and N.0.W. accounts) in authorized financial institutions. Georgia Laws authorize the Library to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations.
RECEIVABLES
Receivables consist ofallotted funds from participating local governments 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 general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables.
INTERFUND TRANSACTIONS
The Library has the following type ofinterfund transactions:
Reimbursements ofexpenditures initially made _from a fund that are properly applicable to another fund are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed.
MEMORANDUM ONLY - TOTAL COLUMNS
Total columns on the general purpose financial statements are captioned "Memorandum Only" to indicate that
- 12 -

OCONEE REGIONAL LIBRARY

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations or cash flows in conformity with generally accepted accounting principles, nor is such data comparable to a consolidation. lnterfund eliminations have not been made in the aggregation ofthis data.
Note 2: 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 ofsecurities pledged shall be equal to not less than 110 percent of the public funds being secured after the deduction of the amount of deposit insurance. OCGA Section 45-8-11 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 ofindebtedness or other obligations of the counties or municipalities ofthe State of Georgia,
(5) Bonds ofany public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use ofthe bonds for this purpose,
(6) Industrial revenue bonds and bonds of development authorities created by the laws of the 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 and 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.

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OCONEE REGIONAL LIBRARY

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 2: DEPOSITS

CATEGORIZATION OF DEPOSITS At June 30, 1995, the bank balances were $177,103.98. The amounts ofthe 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, 1995, as follows:
Risk Category
1 2 3
Total
Note 3: RISK MANAGEMENT

Bank Balance $ 138,228.41
0.00 38,875.57 $ 177 103 98

The Library is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illnesses or injuries to employees; natural disaster; and unemployment compensation.

The Library has obtained c~mmercial insurance for risk of loss associated with torts, assets and natural disaster. The Library has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Library's insurance coverage in any of the past three years.

The Library has elected to self-insure for all losses related to errors or omissions, which includes, among other risks, risks for sexual harassment and discrimination. The Library has not experienced any losses related to errors or omissions in the past three years.

The Library is self-insured with regard to unemployment compensation claims. The General Fund contributes to the Expendable Trust Fund set up to pay claims for unemployment compensation during the fiscal year. Estimated claims are budgeted by management based on known claims and prior experience. The Library accounts for claims with expenditures and liability being reported when it is probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated. The Library has not experienced any claims related to unemployment compensation in the past two years.

- 14 -

OCONEE REGIONAL LIBRARY

EXIDBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 3: RISK MANAGEMENT

The Library participates in the Association County Commissioners of Georgia - Self Insured Workers' Compensation Fund, a public entity risk pool organized on July 1, 1982 to develop, implement, and administer a program ofworkers' compensation self-insurance for its member organiz.ations. 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 Midwest Employers Casualty to provide coverage for potential losses sustained by the Fund in excess of$400,000.00 loss per occurrence, up to a maximum of$2,000,000.00.

Note 4: OPERATING LEASES

The Library has committed under various leases for copiers and a postage meter. These leases are considered
for accounting purposes to be operating leases. Lease expenditures for the year ended June 30, 1995, amounted to $5,570.60. Future minimum lease payments for these leases are as follows:

Year Ending 1996 1997 1998 Total
Note 5: CONTINGENT LIABILITIES

Amount
$ 5,166.76 2,670.30 213.00
$ 8,050 06

Amounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Library believes that such disallowances, if any, will be immaterial to its overall financial position.

Note 6 : RETIREMENT PLANS

TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)

TRS PLAN DESCRIPTION All full-time 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 public employee retirement system (PERS).

TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. A member is eligible for service retirement after 30 years of service, regardless of age, or after 10 years ofservice and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the

- 15 -

OCONEE REGIONAL LIBRARY

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 6 : RETIREMENT PLANS
number ofyears of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death.
Retirement benefits also include disability and death benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death.
Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employee contributions occurs, but the member's contributions are refunded with interest.
The Library's payroll for employees covered by TRS for the year ended June 30, 1995, was $444,042.38; total payroll was $476,549.35.
TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Library who are covered by TRS are required by State statute to pay 5% of their gross earnings to TRS. The Library makes monthly employer contributions to TRS at rates adopted by the TRS Board ofTrustees in accordance with State statute and as advised by their independent actuary. At June 30, 1995, the TRS Library employer contribution rate was 11.81%. The interest rate assumption (rate of return on investments) was 7.50%.
Total contributions made during fiscal year 1995 amounted to $74,643.91, of which $52,441.72 was made by the Library and $22,202.19 was made by employees. These contributions represented 11.81% (Library) and 5% (employees) of covered payroll.
TRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure of the pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers.

- 16 -

OCONEE REGIONAL LIBRARY

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 6 : RETIREMENT PLANS

Total unfunded pension benefit obligation ofTRS as of June 30, 1994, was as follows:

Total pension benefit obligation

$ 15,313,743,000.00

Net assets available for benefits, at cost

14,254,785,000.00

Unfunded pension benefit obligation

$ 1,058.958.000.00

The measurement ofthe total pension benefit obligation is based on an actuarial valuation as of June 30, 1994. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers.

Total contributions from all employers to TRS for fiscal year ended June 30, 1995, were $565,117,811.00. The Library's contribution for the year ended June 30, 1995, of $52,441.72 was actuarially determined and represented .0093% of total contributions made by all participating employers.

Ten year historical trend information is presented in the 1995 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due.

Note 7 : SURETY BONDS

The Library Director, Ms. Susan S. Williams and the Treasurer, Ms. Virginia Jones, are bonded in the amount
of$100,000.00 with the Old Republic Surety Company, Atlanta, Georgia, their Bond No. XBS 1133607, on which premium was paid through November 7, 1995.

- 17 -

ASSETS Accounts Receivable
LIABILITIES AND FUND EQUITY LIABJlfTIES
Cash Overdraft Accounts Payable Unearned Lottery Funds
Total Liabilities FUND EQUITY
Fund Balances Unreserved Undesignated
Total Liabilities and Fund Equity

OCONEE REGIONAL LIBRARY COMBINING BALANCE SHEET
SPECIAL REVENUE FUND JUNE30 1995

LIBRARY

SERVICES AND

CONSTRUCTION

ACT

TITLEI

PUBLIC GOVERNOR'S

LOTTERY

LIBRARY EMERGENCY

PROGRAMS SERVICES

FUND

TOTALS JUNE 30, 1995 JUNE 301 1994

$

0.00 $

o.oo s___o_.oo_s ____o_.oo_s __e_.1_09_.oo_

$

1,969.75

5,813.65

325.60

$

8,109.00

$ _ _ _0_.00_$
s____o_.oo_ s

0.00 $ 0.00 $

o.oo s___"""o=.oo~

0.00

0.00 $

o.oo s__e_,1_09_.oo_

See notes to the general purpose financial statements.

-18-

OCONEE REGIONAL LIBRARY COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES
SPECIAL REVENUE FUND YEAR ENDED JUNE 30. 1995

EXHIBIT"H"

REVENUES
State Funds Federal Funds
Total Revenues
EXPENDITURES
Current Program Services Administration
Total Expenditures
Excess of Revenues over (under) Expenditures
FUND BALANCE JULY 1

LOTTERY PROGRAMS

LIBRARY SERVICES AND CONSTRUCTION
ACT TITLEI PUBLIC LIBRARY SERVICES

GOVERNOR'S EMERGENCY
FUND (1}

TOTALS YEAR ENDED JUNE 30. 1995 JUNE 30. 1994

$

917.87

$

$

19,000.00

$

917.87 $

19,000.00 $

18,000.00 $ 18,000.00 $

18.917.87 $ 19,000.00
37,917.87 $

122,174.40 36,430.00
158,604.40

$

18,921.48

$

917.87

78.52 $

$

917.87 $

19,000.00 $

$

0.00 $

0.00 $

0.00

0.00

$ 18,000.00
18,000.00 $ 0.00 $
0.00

18,921.48 $ 18,996.39
37,917.87 $ 0.00 $
0.00

17,430.00 141,174.40
158,604.40 0.00 0.00

FUND BALANCE ,!UNE 30

$

0.00 $

0.00 $

0.00 $

0.00 $

0.00

(1) The purpose of these funds is for purchase of a van for Oconee Regional Library. See notes to the general purpose financial statements.
-19-

OCONEE REGIONAL LIBRARY COMBINING BALANCE SHEET
CAPITAL PROJECTS FUND JUNE 30, 1995

EXHIBIT"!"

ASSETS Cash and Cash Equivalents Accounts Receivable
Total Assets
LIABILITIES AND FUND EQUITY LIABILITIES
Cash Overdraft FUND EQUITY
Fund Balances Reserved For State Capital Outlay Projects Unreserved Undesignated Total Fund Equity

GEORGIA STATE FINANCING

AND INVESTMENT COMMISSION

PROJECT

PROJECT

95S-SB-007

95S-SB-OOS

TOTALS JUNE 30, 1995 JUNE 30, 1994

$
s_____10;;.:.,500;;...;..;;..;..;;oo~

1,741.35 $

1,741.35 $ 10,500.00

4,072.40

$

10,500.00 $

1 741.35 $

s___ 12 241_35

4_.0_1_2_.40_

1

$

7,296.03

$

7,296.03

$

3,203.97 $

1,741.35 $

4,945.32

$

4,072.40

$

3,203.97 $

1,741.35 $

4,945.32 $

4,072.40

Total Liabilities and Fund Equity

$

10,500.00 $

1 741.35 $

12,241.35 $ _ _ _4_.0_1_2_.40_

See notes to the general purpose financial statements.

-20-

OCONEE REGIONAL LIBRARY COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30. 1995

EXHIBIT"J"

REVENUES Local and Other Funds
EXPENDITURES Capital Outlay Building and Building Improvements
Excess of Revenues over (under) Expenditures OTHER FINANCING SOURCES
Operating Transfers In Excess of Revenues and Other Financing Sources
over (under) Expenditures FUND BALANCE JULY 1

GEORGIA STATE FINANCING

AND INVESTMENT COMMISSION

PROJECT

PROJECT

95S-SB-007

95S-SB-008

TOTALS YEAR ENDED JUNE 30, 1995 JUNE 30, 1994

$

41,138.90 $

8,421.31 $

49,560.21 $

234.67

$

42,007.33 $

$

-868.43 $

6,679.96 $ 1,741.35 $

48,687.29 $ 872.92 $

6,162.27 -5,927.60

$

10,000.00

$

-868.43 $

4,072.40

1,741.35 $ 0.00

872.92 $ 4,072.40

4,072.40 0.00

FUND BALANCE JUNE 30

$

3,203.97 $

1,741.35 $

4,945.32 $ _ _ _4_,0_1_2._40_

See notes to the general purpose financial statements.

- 21 -

OCONEE REGIONAL LIBRARY COMBINING BALANCE SHEET
FIDUCIARY FUND TYPES JUNE 30, 1995

ASSETS Cash and Cash Equivalents
LIABILITIES AND FUND EQUITY LIABILITIES
Funds Held for Others FUND EQUITY
Fund Balances Reserved For Endowment Corpus Unreserved Undesignated Total Fund Equity
Total Liabilities and Fund Equity

NONEXPENDABLE TRUST FUNDS

MAROYC.

JONES

WILSON

SAM CONYERS

MEMORIAL

MEMORIAL

FUND

FUND

FUND

$

3,758.67 $

3, 168.94 $ _ _1_3_,5_9_5_.3_8

$

3,198.09 $

2,820.35 $

11,771.37

560.58

348.59

1,824.01

$

3,758.67 $

3, 168.94 $ _ _1__3..._,5.,,;;9_5_;..;;,.3.;...8

$

3,758.67 $

3,168.94 $ ====13=,5=95=.3=8

See notes to the general purpose financial statements.

-22-

EXHIBIT"K"

EXPENDABLE TRUST FUND SELF-INSURED EMPLOYEE BENEFIT FUND UNEMPLOYMENT COMPENSATION
FUND

TOTALS AGENCY FUND JUNE 30, 1995 JUNE 30, 1994

$

12,669.04 $

1,302.53 $

34,494.56 $

31,865.98

$

1,302.53 $

1,302.53 $ _ _1_._,2_6_9_.5_1

$

17,789.81 $

16,789.10

$

12,669.04 $ _ _ _ _o_.o_o

15,402.22

13,807.37

$

12,669.04 $

0.00 $

33,192.03 $

30,596.47

$

12,669.04 $

1,302.53 $

34,494.56 $

31,865.98

- 23-

OCONEE REGIONAL LIBRARY STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FIDUCIARY FUND TYPE - AGENCY FUND YEAR ENDED JUNE 30, 1995

EXHIBIT"L"

FRIENDS OF LIBRARY ACCOUNT ASSETS
Cash and Cash Equivalents
LIABILITIES Funds Held for Others

BALANCE JULY 1, 1994

ADDITIONS

DEDUCTIONS

BALANCE JUNE 30, 1995

$

1,269.51 $

33.02 $

$

1,269.51 $

33.02 $

0.00 $ ===1=,3=02-.5=3

----- 0.00 $

1,302.53

See notes to the general purpose financial statements.

-24-

OCONEE REGIONAL LIBRARY CASH AND CASH EQUIVALENTS
JUNE 30, 1995

SCHEDULE "1"

INTEREST BEARING ACCOUNTS
Bank of Dudley, Dudley, Georgia
N.O.W. Accounts (Variable)
Bank South, N.A., Tennille, Georgia
N.O.W. Account (2.00%)
Bankers First Savings Bank, FSB Dublin, Georgia
Certificate of Deposit No. 4106025 (6.54%)
Farmers and Merchants Bank, Dublin, Georgia
Savings Account (3.50%) Certificate of Deposit
No. 21871 (6.35%)
OTHER
Petty Cash

$

62,210.84

1,741.35

13,595.38

$

8,230.14

12,669.04

20,899.18

100.00

$ ======9=8=,5=4=6=.=7=5=

See notes to the general purpose financial statements. - 25 -

OCONEE REGIONAL LIBRARY ACCOUNTS RECEIVABLE JUNE 30, 1995

SCHEDULE "2"

Dublin, City of Local Support
Treutlen County Library Reimbursement for Expenses

GOVERNMENTAL FUND TYPES

CAPITAL

GENERAL

PROJECTS

FUND

FUND

TOTAL

$

10,500.00 $ 10,500.00

$ _ _ _3.;..;8;.;;.5.;.;..7.;;..0

385.70

$

385.70 $

10,500.00 $ 10,885.70

See notes to the general purpose financial statements. - 26 -

OCONEE REGIONAL LIBRARY SCHEDULE OF STATE REVENUE
YEAR ENDED JUNE 30, 1995

SCHEDULE "3"

AGENCY/FUNDING
GRANTS Education, Georgia Department of Public Libraries Salaries and Travel Library Materials Talking Book Centers Maintenance and Operations Other State Programs Governor's Emergency Funds Lottery Program Distant Leaming

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

$ 296,191.32
52,743.00 53,168.00 46,143.00
$

$ 296,191.32
52,743.00 53,168.00 46,143.00

18,000.00

18,000.00

917.87

917.87

$ 448,245.32 $ 18,917.87 $ 467,163.19

See notes to the general purpose financial statements. - 27 -

OCONEE REGIONAL LIBRARY SCHEDULE OF FEDERAL REVENUE
YEAR ENDED JUNE 30, 1995

SCHEDULE "4"

AGENCY/FUNDING
SUB-GRANTS Education, U. S. Department of Through Georgia Department of Education Library Services and Construction Act Title I - Public Library Services
Title 111- Interlibrary Cooperative and
Resource Sharing

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

$ $ _ _ _2_27_._55_

19,000.00 $

19,000.00 227.55

$

227.55 $

19,000.00 $ ===19=,2=27=.5=5

See notes to the general purpose financial statements.

- 28 -

OCONEE REGIONAL LIBRARY SCHEDULE OF LOCAL AND OTHER REVENUE
YEAR ENDED JUNE 30, 1995

SCHEDULE "5"

LOCAL SOURCES Boards of Education City of Dublin Johnson County Treutlen County
City Government Dublin
County Government Boards of Commissioners Laurens Wheeler
Public Libraries Laurens County Sandersville Washington County
OTHER SOURCES Donations Dublin Rotary Club Friends of the Library Other Fines and Fees Interest Earned Photocopy Sales Rents Sales of Surplus Materials Other

GOVERNMENTAL FUND TYPES

CAPITAL

GENERAL

PROJECTS

FUND

FUND

FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND

TOTAL

$

2,000.00

1,266.48

1,013.23

142,591.96 $ 18,375.00

$

2,000.00

1,266.48

1,013.23

160,966.96

258,791.61 759.96
6,584.43 3,039.76

18,375.00
2,343.73 6,000.00

277,166.61 759.96
6,584.43 2,343.73 9,039.76

12,289.00
406.24 19,343.88
3,308.11 7,049.55 7,100.00 1,050.33
385.70

3,000.00 223.70 $
1,242.78

498.82

12,289.00 3,000.00 _ 406.24
19,343.88 4,030.63 7,049.55 7,100.00 2,293.11 385.70

$ 466,980.24 $ 49,56021 $===4=9=8=.8=2 $ 517,039.27

See notes to the general purpose financial statements. - 29 -

OCONEE REGIONAL LIBRARY SCHEDULE OF EXPENDITURES BY OBJECT
GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1995

SCHEDULE "6"

EXPENDITURES
Operating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Property Services Supplies Library Books and Materials Utilities Communications and Insurance Dues and Fees
Nonoperating Costs Equipment
Total Expenditures

GENERAL FUND

SPECIAL REVENUE
FUND

TOTAL

$ 476,549.35 133,398.79 3,151.48 3,093.20 $ 37,261.05 30,121.41 135,369.27 26,609.23 22,730.12 2,888.96

$
78.52 335.00 18,921.48

476,549.35 133,398.79
3,151.48 3,171.72 37,596.05 30,121.41 154,290.75 26,609.23 22,730.12 2,888.96

23,458.20

18,582.87

42,041.07

$ 894,631.06 $

37,917.87 $ 932,548.93

See notes to the general purpose financial statements. - 30 -

OCONEE REGIONAL LIBRARY SCHEDULE OF EXPENDITURES BY OBJECT
LOTTERY PROGRAM
YEAR ENDED JUNE 30, 1995

SCHEDULE '7"

EXPENDITURES Operating Costs Property Services Nonoperating Costs Equipment
Total Expenditures

DISTANT LEARNING

$

335.00

582.87

$ ===91=7.8=7

See notes to the general purpose financial statements. - 31 -

OCONEE REGIONAL LIBRARY MEMBERSHIP OF LIBRARY BOARD
YEAR ENDED JUNE 30, 1995
BOARD MEMBER ADDRESS
Mr. Duggan Weaver, Chairman (*) P.O. Box5 Dudley, Georgia 31022
Mr. E. Tarver Averett, Jr. (*) P.O. Box716 Sandersville, Georgia 31082
Ms. Elaine Burleson (*) P.O. Box466 Alamo, Georgia 30411
Mrs. Gina Dixon (*) Route 2, Box 16 Alamo, Georgia 30411
Mr. Jack Ellington (*) Route 3 Soperton, Georgia 30457
Mrs. Rebecca Hodges (*) P.O. Box56 Oconee, Georgia 31067
Mr. Nick Holton (*) Route 1 Wrightsville, Georgia 31096
Ms. Martha Hooks (*) P.O. Box 4366 Dublin, Georgia 31040-4366
Mrs. Louise Jackson (*) Lakeview Drive Wrightsville, Georgia 31096
Mrs. Jean Joiner (*) 287 West Adam Street Tennille, Georgia 31089
Mrs. Virginia Jones (*) 219 North Elm Street Dublin, Georgia 31021
(*) Denotes Board Members Serving as of June 30, 1995

SCHEDULE "8"
Mr. Thomas Kellam (*) P.O. Box477 Dublin, Georgia 31040 Mrs. Hayes Lawton (*) 601 Main Street Soperton, Georgia 30457 Mr. Sandy Morrison (*) P.O. Box278 Glenwood, Georgia 30428 Mrs. Mary Ann Norris (*) 340 West Elm Street Wrightsville, Georgia 31096 Mr. Will Peterson (*) 506 La Avenue Soperton, Georgia 30457

See notes to the general purpose financial statements.

- 32 -

OCONEE REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL
YEAR ENDED JUNE 30. 1995

SCHEDULE "9"

PERSONNEL

Bracewell, Coleman, Dillard, Ellington, Fries, Hall, Hall, Hatchett, Hogan, Jessup, Mack, Northrop, O'Neal, Putkowski, Schrader, Snellgrove, Thomas, Walker, Warren, White, Wiggins, Williams, Williams, Woodburn,

Elizabeth Donna Abbie Lillie Patricia Lugine Shirley Elizabeth H. Virginia C. Marjorie B. Beverly A Julia S. Lenton F. Susan P. Luticia L. Blondell Gail R. Linda C. Joy S. GladineW. Mattie K. Linda Susan S. Chris C.

POSITION
Circulation Librarian Technical Services Librarian Head of Reference Reference Librarian LBPH Librarian Custodian/Security Business Manager Assistant Director Branch Services Librarian Circulation Assistant Circulation Desk Manager Reference Assistant Circulation Clerk Night Circulation Desk Manager Children's Librarian Circulation Clerk Reference Librarian Library Assistant Assistant Bookkeeper Circulation Clerk Branch Manager KWG Clerk Director Automation Specialist

SALARIES

TRAVEL

$

28,876.20

32,508.20 $

32,412.98

20,188.40

36,226.20

23,914.82

20,800.04

9,777.60

40,697.60

4,950.06

16,678.44

12,216.86

5,167.64

3,925.87

25,425.69

6,139.10

11,530.00

13,183.55

11,682.39

7,956.14

15,400.80

14,981.01

49,175.16

32,734.60

129.91 236.90
217.98 77.02
218.61
6.72 137.05 55.86
1,394.87 676.56

$ 476,549.35 $===3=,1=5=1=.4=8

See notes to the general purpose financial statements.

- 33-

SECTION II FINDINGS AND IMPROPER OR QUESTIONED COSTS

OCONEE REGIONAL LIBRARY SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1995
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Unearned Lottery Funds Finding Resolved Audit Control Number 6872-94-01
The audit report for the year ended June 30, 1994, stated that the Lottery Grant Completion Report submitted by the Library included obligations that were liquidated during fiscal year 1995 for amounts less than the Library had reported. As a result, unearned Lottery funds of$325.60 were received by the Library in fiscal year 1994. During the year under review, refund of $325.60 was made to the Georgia Department of Education.
AUDIT FOLLOW-UP/RESOLUTION Delinquent Completion Report Finding Resolved Audit Control Number 6872-94-02
The audit report for the year ended June 30, 1994, stated that the Library failed to file a final completion report by the required date for the Title I - Public Library Services - 1993 Carry-Over Competitive Grant (CFDA 84.034) in accordance with regulations established by the Georgia Department of Education. The completion report due October 31, 1994, was not filed until December 15, 1994. A final completion report for the Title I- Public Library Services - 1994 Carry-Over Basic Grant (CFDA 84.034) was filed before the required due date of October 31, 1995. In addition, the Library implemented a time log system to keep up with the due dates of reports and when they were sent.
PRIOR YEAR/CURRENT YEAR
ACCOUNTING CONTROLS (OVERALL) Inadequate Separation ofDuties Audit Control Number 6872-93-01
The audit report for the year ended June 30, 1994, stated that the library had not provided for adequate separation ofemployee duties in the perfonnance ofaccounting functions and related procedures for all funds. For the year under review, the Library made some improvements regarding separation of duties, but still did not achieve an adequate degree of internal control.
This deficiency was a result of management's decision to limit the number of administrative staff made responsible for accounting functions. Management should periodically review this decision to determine if employee duties can be reassigned to achieve a higher degree of internal control with existing staff.

OCONEE REGIONAL LIBRARY SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1995
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Audit Control Number 6872-93-02
The audit report for the year ended June 30, 1994, noted that management ofthe Library chose not to maintain
a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Library did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Library being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Library to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Group. These subsidiary records should include an inventory of land, buildings, equipment and inexhaustible collections and books owned by the Library and should include but may not be limited to date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group.
ADMINISTRATIVE REQUIREMENTS Inadequate Inventory Records Audit Control Number 6872-94-03
The audit report for the year ended June 30, 1994, stated that the Library's property management records for the Library Services and Construction Act - Title I (CFDA 84.034) were incomplete and failed to meet the property management standards as set forth in 34 CFR 80.32. The inventory records as presented for audit did not contain the percentage ofFederal participation in the cost ofthe property, location and disposition of the property and/or the financial information relating to disposition of the property, if applicable. In addition, periodic physical inventory counts were not made and reconciled to the property records, as required by 34 CFRS0.32.
For the year under review, the Library made some improvements to the property management records, including the percentage of Federal participation in the cost of the property, location and disposition ofthe property and/or the information relating to the disposition ofthe property. However, the Library still did not have a policy oftaking periodic physical inventory count and reconciling the count to the property records.
Periodic physical inventory counts should be made and reconciled to the property records to ensure the accuracy ofthe Library's inventory records.

SECTION III PERTINENT VIEWS OF RESPONSIBLE OFFICIALS

OCONEE REGIONAL LIBRARY PERTINENT VIEWS OF RESPONSIBLE OFFICIALS
YEAR ENDED JUNE 30, 1995
ACCOUNTING CONTROLS (OVERALL) Inadequate Separation ofDuties Audit Control Number 6872-93-01
The audit report stated that the Library made some improvements regarding separation of duties in 1995 but still did not achieve an adequate degree ofinternal control. Budget limitations precluded increasing the degree of control to the fully recommended separation of duties. However, steps were taken starting in September of 1995 to separate duties further by having the circulation desk staff deposit daily fines and fees apart from administrative deposits.
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Audit Control Number 6872-93-02
The Library has chosen not to maintain a system wide General Fixed Assets Account Group until it moves back into its renovated main library in 1997 from present temporary sites. Complete book and equipment inventories have been accomplished toward this move. Formal inventory systems with item tags are being studied in preparation.
ADMINISTRATIVE REQUIREMENTS Inadequate Inventory Records Audit Control Number 6872-94-03
The Library has added an annual physical inventory county and reconciliation of records of federally funded equipment to its suspense calendar. It will be included in the general inventory control plan in 1997.