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 OHOOPEE 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 AND ACCOUNT GROUPS 
 
2 
 
B 
 
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND 
 
CHANGES IN FUND BALANCES 
 
ALL GOVERNMENTAL FUND TYPES 
 
4 
 
C 
 
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND 
 
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL 
 
GENERAL AND SPECIAL REVENUE FUNDS 
 
5 
 
D 
 
STATEMENT OF REVENUES, EXPENSES AND 
 
CHANGES IN FUND BALANCES 
 
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND 
 
6 
 
E 
 
STATEMENT OF CASH FLOWS 
 
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND 
 
7 
 
F NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
9 
 
ADDITIONAL FINANCIAL INFORMATION 
 
SCHEDULES 
 
SCHEDULE OF REVENUE 
 
1 
 
STATE 
 
18 
 
2 
 
FEDERAL 
 
19 
 
3 
 
LOCAL 
 
20 
 
4 SCHEDULE OF SALARIES AND TRA VEL 
 
21 
 
SECTION II FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS 
 
 SECTION I FINANCIAL 
 
 RUSSELL W. HINTON 
STATE AUDITOR (404) 6562174 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
254 Washington Street, S. W Sulle 214 Atlanta, Georgia 3U334-X400 
August 13,2003 
 
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 Ohoopee Regional Library Board 
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION 
Ladies and Gentlemen: 
We have audited the accompanying general-purpose financial statements of the Ohoopee Regional Library. as of and for the year ended June 30, 2002, as listed in the table ofcontents. These generalpurpose financial statements are the responsibility of the Ohoopee Regional Library's management. Our responsibility is to express an opinion on these general-purpose financial statements based on our audit. 
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general-purpose 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 opinion. 
In our opinion, the general-purpose financial statements referred to above present fairly, in all material respects, the financial position ofthe Ohoopee Regional Library as ofJune 30, 2002, and the results of its operations and the cash flows of its nonexpendable trust fund for the year then ended, in conformity with accounting principles generally accepted in the United States of America. 
Our audit was performed for the purpose of fornling an opinion on the general-purpose financial statements of the Ohoopee Regional Library taken as a whole. The accompanying financial schedules (Schedules 1 through 4), as listed in the table of contents, are presented for purposes of 
2002ARL-40 
 
 additional analysis and are not a required part of the general-purpose financial statements of the Ohoopee 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, is fairly stated, in all material respects, in relation to the general-purpose 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 ofthe State, as provided for by Official Code ofGeorgia Annotated Section 506-24. 
Respectfully submitted, 
W.~ 
R sell W. Hinton State Auditor 
RWH:as 2002ARL-40 
 
 OHOOPEE REGIONAL LIBRARY 
 
 OHOOPEE REGIONAL LIBRARY COMBINED BALANCE SHEET 
ALL FUND TYPES AND ACCOUNT GROUPS JUNE 30, 2002 
 
ASSETS 
Cash and Cash Equivalents 
Investments 
Accounts Receivable 
General Fixed Assets Land BUildings EqUipment 
Amount to be PrOVided In Future Years For Payment of Compensated Absences 
 
GOVERNMENTAL FUND TYPES 
 
SPECIAL 
 
GENERAL 
 
REVENUE 
 
FUND 
 
FUND 
 
FIDUCIARY FUND TYPE NONEXPENDABLE TRUST FUND 
 
$ 94,14775 
 
$ 
 
1,25566 
 
7,82109 
 
1,091 57 
 
6,85722 $ 
 
65000 
 
Total Assets 
 
$ 108,826 06 $ 
 
650 00 $ =====:2,~34~7,,;;:2~3 
 
LIABILITIES AND FUND EQUITY 
LIABILITIES 
Cash Overdraft Accounts Payable Expired Grant Balances Payable Deferred Revenue Compensated Absences 
Total LiabilitieS 
FUND EqUITY 
Investment In General Fixed Assets Fund Balances 
Reserved For Endowment Corpus 
Unreserved Undeslgnated 
Total Fund Equity 
 
$ 
 
$ 
 
8,511 40 
 
1,56416 
 
$ 10,07556 $ 
 
65000 65000 
 
$ 98,75050 $ $ 98,75050 $ 
 
$ 000 000 $ 
 
1,76000 58723 
2,34723 
 
Total Liabilities and Fund Equity 
 
$ 108,826 06 $ 
 
65000 $ ======2=,34====7=2=.=3 
 
The notes to the general-purpose finanCial statements are an Integral part of thiS statement - 2- 
 
 EXHIBIT "A" 
 
ACCOUNT GROUPS 
 
GENERAL 
 
GENERAL 
 
FIXED 
 
LONG-TERM 
 
ASSETS 
 
DEBT 
 
TOTALS (Memorandum Only) JUNE 30, 2002 JUNE 30, 2001 
 
$ 
 
95,40341 $ 
 
70,91695 
 
8,91266 
 
8,58705 
 
7,50722 
 
17,14918 
 
$ 
 
85,00000 
 
853,25800 
 
332,88200 
 
85,00000 853,25800 332,88200 
 
85,00000 853,25800 332,88200 
 
$ 16,01748 
 
16,01748 
 
17,271 39 
 
$ 
 
1,271,14000 $ 16,01748 $ 1,398,98077 $ 1,385,064 57 
 
$ 
$ 16,01748 $ 16,01748 $ 
 
65000 8,511 40 $ 
1,564 16 16,01748 
26,74304 $ 
 
5,801 81 11578 
2,21808 17,271 39 
25,40706 
 
$ 
 
1,271,14000 
 
$ 
 
1:...::,2::..:7~1..,..1.:....;4c::0--=O:.::...0 
 
$ 1,271,14000 $ 1,271,14000 
 
1,76000 
 
1,76000 
 
99,33773 
 
86,75751 
 
$ 1,372,237 73 $ 1,359,657 51 
 
$ 
 
1.271,14000 $ 16,017 48 $ 1,398,98077 $ 1,385,064 57 
 
-3- 
 
 ------------------- 
 
OHOOPEE REGIONAL LIBRARY COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 
ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 2002 
 
EXHIBIT "B" 
 
REVENUES 
State Funds Federal Funds Local Funds Other Funds 
Total Revenues 
EXPENDITURES 
Current Public Services Technical Services Support Services Maintenance and Operations 
Total Expenditures 
Excess of Revenues over (under) Expenditures 
FUND BALANCE JULY 1 
 
GENERAL FUND 
 
SPECIAL REVENUE 
FUND 
 
TOTALS (Memorandum Only) 
YEAR ENDED JUNE 30, 2002 JUNE 30, 2001 
 
$ 295,42612 $ 
185,52974 19,29861 
 
$ 39,96912 
 
$ 500,254 47 $ 39,96912 $ 
 
295,42612 $ 39,96912 
185,52974 19,29861 
540,22359 $ 
 
311,55601 6,75554 
177,88294 41,19075 
537,38524 
 
$ 260,18281 $ 62,33223 131,784 97 33,44450 
 
11,16225 $ 28,80687 
 
$ 487,744 51 $ 39,96912 $ 
 
$ 12,50996 $ 
 
000 $ 
 
86,24054 
 
000 
 
271,34506 $ 62,33223 160,591 84 33,44450 
527,71363 $ 
12,50996 $ 
86,24054 
 
284,66926 59,01312 
199,06391 31,03997 
573,78626 
-36,40102 
122,641 56 
 
FUND BALANCE JUNE 30 
 
$ 98,75050 $ 
 
000 $ 
 
98,750 50 $ ===,86~,2~4,;;0,;;54,;, 
 
The notes to the general-purpose financial statements are an Integral part of thiS statement -4- 
 
 OHOOPEE REGIONAL LIBRARY COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 
BUDGET AND ACTUAL GENERAL AND SPECIAL REVENUE FUNDS 
YEAR ENDED JUNE 30, 2002 
 
EXHIBIT "C" 
 
REVENUES 
State Funds Federal Funds Local Funds Other Funds 
Total Revenues 
EXPENDITURES 
Current Public Services Technical serviceS Support Services Maintenance and Operations 
Total Expenditures 
Excess of Revenues over (under) Expenditures 
FUND BALANCE JULY 1, 2001 
 
GENERAL FUND 
 
BUDGET 
 
ACTUAL 
 
$ 311,671 80 $ 295,42612 
 
113.60000 16.35000 
 
185.52974 19.29861 
 
$ 441.62180 $ 500.25447 
 
$ 221,45395 $ 260.18281 
 
62.371 15 
 
62,33223 
 
134.21521 
 
131,784 97 
 
22.95723 
 
33.444 50 
 
$ 440,99754 $ 487,74451 
 
$ 
 
62426 $ 12.50996 
 
000 
 
86.24054 
 
SPECIAL REVENUE FUND 
 
BUDGET 
 
ACTUAL 
 
$ 
 
000 $ 
 
39,96912 
 
$ 
 
000 $ 
 
39.96912 
 
$ 
 
000 $ 
 
11,16225 
 
28,80687 
 
$ 
 
000 $ 
 
39.96912 
 
$ 
 
000 $ 
 
000 
 
000 
 
000 
 
FUND BALANCE JUNE 30, 2002 
 
$===6=2=4=.26;;, $ 98.75050 
 
$ 
 
000 $ ===.;;;O~O;;;.O 
 
The notes to the general-purpose financial statements are an Integral part of thiS statement - 5- 
 
 OHOOPEE REGIONAL LIBRARY STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES 
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND YEAR ENDED JUNE 30, 2002 
 
EXHIBIT"D" 
 
OPERATING REVENUES None Recorded 
OPERATING EXPENSES Current Library Books and Matenals Operating Income 
NONOPERATING REVENUES Interest Earned Total Income 
FUND BALANCE JULY 1 
FUND BALANCE JUNE 30 
 
OHOOPEE REGIONAL LIBRARY BOOK FUND 
 
TOTALS (Memorandum Only) 
YEAR ENDED JUNE 3D, 2002 JUNE 30. 2001 
 
$ 
 
000 $ 
 
000 $ 
 
000 
 
$ 
 
000 $ 
 
$ 
 
000 $ 
 
000 $ 0.00 $ 
 
000 000 
 
7026 
 
$ 
 
7026 $ 
 
2,27697 
 
7026 7026 $ 2,27697 
 
5189 5189 2,225.08 
 
$ 
 
2,34723 $ 
 
2,347 23 $ .....=::;;2;f;'2;;,7,;;,6,,;9,;.,7 
 
The notes to the general-purpose finanCIal statements are an Integral part of thiS statement 6- 
 
 OHOOPEE REGIONAL LIBRARY STATEMENT OF CASH FLOWS FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND 
YEAR ENDED JUNE 30, 2002 
 
EXHIBIT IIE" 
 
Cash Flows from Operating Activities Cash Paid for Library Books and Matenals 
Cash Flows from Investing ActiVIties' Cash Paid for Purchase of Investments Cash Received from the Sale of Investments Interest Received on Investments 
Net Increase In Cash 
Cash and Cash Equivalents July 1 
 
OHOOPEE REGIONAL LIBRARY BOOK FUND 
 
TOTALS 
 
(Memorandum Only) 
 
YEAR ENDED 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 
 
0.00 $ 
 
000 $ 
 
000 
 
$ 
 
-2,162.87 $ 
 
2,11622 
 
7026 
 
$ 
 
2361 $ 
 
1,232.05 
 
-2,16287 $ 2,116.22 
70.26 
2361 $ 
1,232 05 
 
-1,044 92 993.03 5189 
0.00 
1,23205 
 
Cash and Cash EqUivalents - June 30 
 
$ 
 
1,25566 $ 
 
1,255 66 $ ====1=,2=32=.=05= 
 
The notes to the general-purpose financial statements are an Integral part of thiS statement. -7- 
 
 OHOOPEE REGIONAL LIBRARY NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
JUNE 30, 2002 
 
EXHIBIT "F" 
 
Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
REPORTING ENTITY 
The Ohoopee Regional Library (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. The financial statements of the Library have been prepared in conformity with generally accepted accounting principles as applied to governmental units and unless otherwise disclosed in these notes, the financial statements present all fund types and account groups of the Library. 
The Library Board consists of II members; 7 members appointed by Toombs County Library Board, 2 members appointed by Montgomery County Library Board and 2 members appointed by Tattnall 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 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. 
While the Toombs County Library Board appoints a majority of the Ohoopee Regional Library's Board, the Toombs County Library Board is neither able to impose its will upon the Library nor is there a financial benefit/burden relationship between the two boards as defined by Governmental Accounting Standards Board. The Ohoopee Regional Library is therefore considered to be a related organization of the Toombs County Library Board. 
FUND ACCOUNTING 
The Library uses funds and account groups 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. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. 
The general-purpose financial statements account for all State, Federal, Local and Other funds under control of the Library, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and account groups presented in this report are as follows: 
 
-9- 
 
 OHOOPEE REGIONAL LIBRARY NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
JUNE 30, 2002 
 
EXHIBIT "F" 
 
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
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 of specific revenue sources that are legally restricted to expenditures for specified purposes. The primary type of special revenue fund consists ofproceeds received from State and Federal sources to accomplish specific objectives and are required to be accounted for separately. 
FIDUCIARY FUND TYPE - the trust fund 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. This fund includes: 
NONEXPENDABLETRUSTFUND Ohoopee Regional Library Book 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 used exclusively for the purchase of library books. 
ACCOUNT GROUPS 
GENERAL FIXED ASSETS ACCOUNT GROUP - used to account for all general fixed assets acquired by the Library which includes land, buildings and equipment. 
GENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for compensated absences. 
BASIS OF ACCOUNTING 
The accounting and financial reporting treatment applied to a fund is detennined by its measurement focus. All governmental funds 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. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Tenn Debt Account Group. 
- 10 - 
 
 OHOOPEE REGIONAL LIBRARY NOTES TO THE GENERAL-PURPOSE FTNANCIAL STATEMENTS 
JUNE 30, 2002 
 
EXHIBIT "F" 
 
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
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. 
Governmental funds are accounted for using the modified accrual basis ofaccounting under which: 
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount of the transaction can be detennined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. The Library considers receivables collected within sixty days after year-end to be available and therefore susceptible to accrual. Nonexchange transactions, in which the Library gives (or receives) value without directly receiving (or giving) equal value in exchange, include intergovernmental grants and donations. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. 
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 fund. Under the accrual basis ofaccounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. 
BUDGET 
The Ohoopee 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 for governmental funds was prepared in accordance with generally accepted accounting principles. 
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 Board of Regents of the University System of Georgia as a part of the Library's annual application for State aid. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year end. 
 
- 11 - 
 
 OHOOPEE REGIONAL LIBRARY NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
JUNE 30, 2002 
 
EXHIBIT "F" 
 
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
CASH AND CASH EQUIVALENTS 
COMPOSITION OF DEPOSITS Cash and cash equivalents consist of cash on hand and demand deposits in authorized financial institutions. Georgia Laws 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 of deposit) 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 of return 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, 
(7) Repurchase agreements, and 
(8) Obligations of other political subdivisions of the State of Georgia. 
RECEIVABLES 
Receivables consist of grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed, allotted funds from participating local governments, and other receivables 
- 12 - 
 
 OHOOPEE REGIONAL LIBRARY NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
JUNE 30, 2002 
 
EXHIBIT "F" 
 
Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
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. 
GENERAL FIXED ASSETS 
General fixed assets purchased, including capital outlay costs, are recorded as expenditures in the various funds at the time of purchase. All purchased general fixed assets are valued at cost where historical records are available and at estimated historical cost where no historical records exist. Donated general fixed assets are recorded at fair market value as of the date donated. Disposals are deleted at recorded cost. No depreciation has been provided on General Fixed Assets. The cost of normal maintenance and repairs that do not add to the value of the assets or materially extend the useful lives of the assets is not capitalized. The values of inexhaustible collections and books at the Library are not readily determinable, therefore, the Library has not capitalized them. 
COMPENSATED ABSENCES 
Compensated absences represent obligations of the Library relating to employees' rights to receive compensation for future absences based upon services already rendered. This obligation relates only to vesting accumulating leave in which payment is probable and can be reasonably estimated. No liability has been recorded in the individual funds for the current portion of this obligation as this amount is deemed immaterial to the general-purpose financial statements. 
INTERFUND TRANSACTIONS 
The Library has the following type of interfund transactions: 
Reimbursements ofexpenditures/expenses initially made from a fund that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses 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 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. Interfund eliminations have not been made in the aggregation of this data. 
 
- 13 - 
 
 OHOOPEE REGIONAL LIBRARY 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 2002 
 
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 of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value of securities pledged shall be equal to not less than 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. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion, waive the requirement for security in the case ofoperating funds placed in demand deposit checking accounts. 
Acceptable security for deposits consists of anyone 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 ofdevelopment 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. 
CATEGORlZAnON OF DEPOSITS At June 30, 2002, the bank balances were $138,927.50. The amounts ofthe total bank balances are classified into three categories of credit risk: 
- 14- 
 
 OHOOPEE REGIONAL LIBRARY NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
JUNE 30, 2002 
 
EXHIBIT "F" 
 
Note 2: DEPOSITS 
 
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, 2002, as follows: 
 
Risk Category 
 
Bank Balance 
 
I 
 
$ 107,898.53 
 
2 
 
31,028.97 
 
3 
 
0.00 
 
Total 
 
$ 138,927.50 
 
Note 3: GENERAL FIXED ASSETS 
 
A summary of changes in the General Fixed Assets Account Group during the fiscal year are as follows: 
 
Land 
 
Buildings Equipment 
 
Total 
 
Balance July 1,2001 
 
$ 85,000.00 $853,258.00 $332,882.00 $1,271,140.00 
 
Deductions 
 
0.00 
 
0.00 
 
0.00 
 
0.00 
 
Balance June 30, 2002 
 
$ 85,000.00 $853,258,00 $332,882.00 $1.271.140.00 
 
Note 4: 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, assets and job related illness or injuries to employees. 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. 
 
- 15 - 
 
 - - - - - - - - - - - -- - ----- 
 
OHOOPEE REGIONAL LIBRARY 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 2002 
 
Note 4: RISK MANAGEMENT 
 
The Library has elected to self-insure for all losses related to torts and acts of God. In addition, the Library has elected to self-insure for errors or omissions, which includes, among other risks, risks for sexual harassment and discrimination. 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 expenditure 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 unemployment compensation claims during the last two years. 
 
The Library has purchased a surety bond to provide additional insurance coverage as follows: 
 
Position Covered 
 
Amount 
 
All Employees 
 
$ 100,000.00 
 
Note 5: GENERAL LONG-TERM DEBT 
 
The changes in General Long-Term Debt during the fiscal year ended June 30, 2002, were as follows: 
 
Compensated Absences 
 
Balance July 1,2001 
 
$ 17,271.39 
 
Deductions Annual Leave Earned and Utilized (Net) 
 
1,253.91 
 
Balance June 30, 2002 
 
$ 16.017.48 
 
Note 6: CONTINGENT LIABILITIES 
 
Amounts received or receivable principally from the Federal Government are subject to audit and review by grantor agencies. This could result in requests for reimbursements 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. 
 
- 16- 
 
 OHOOPEE REGIONAL LIBRARY NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
JUNE 30, 2002 
 
EXHIBIT "F" 
 
Note 7: ACCUMULATED EMPLOYEES' LEAVE 
 
The Library's professional and nonprofessional employees working at least 10 hours per week earn vacation leave according to their regular work week schedule ranging from 3 to 13 hours per month. Professionals and nonprofessionals may accrue balances of 160 and 120 hours, respectively. After 5 years of employment, professionals and nonprofessionals may accrue an additional 40 hours of incentive leave to a maximum accumulation of200 and 160 hours, respectively. Upon termination of employment, employees are paid at their current rate of pay for all unused personal leave up to the maximum accumulation. See Note 1 - Compensated Absences 
 
Note 8: 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 of the 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 
 
2002 2001 2000 
 
100% 100% 100% 
 
$ 24,676.77 $ 32,137.16 $ 30,506.50 
 
- 17 - 
 
 OHOOPEE REGIONAL LIBRARY SCHEDULE OF STATE REVENUE 
YEAR ENDED JUNE 30, 2002 
AGENCY/FUNDING 
GRANTS Board of Regents of the University of Georgia Office of Public Library Services Salanes Travel Library Matenals Maintenance and Operations 
 
SCHEDULE "1" 
 
GOVERNMENTAL FUND TYPE GENERAL FUND 
 
$ 
 
226,12699 
 
4,36850 
 
35,03263 
 
29,89800 
 
$ 
 
295,42612 
 
See notes to the general-purpose financial statements - 18 - 
 
 OHOOPEE REGIONAL LIBRARY SCHEDULE OF FEDERAL REVENUE 
YEAR ENDED JUNE 30, 2002 
AGENCYIF UN01 NG GRANT Museum and Library Services, Institute of Through Board of Regents of the University System Library Services and Technology Act State Library Program 
 
SCHEDULE "2" 
GOVERNMENTAL FUND TYPE SPECIAL REVENUE FUND 
$ =====3=9,=9=69===:;12= 
 
See notes to the general-purpose financial statements - 19- 
 
 OHOOPEE REGIONAL LIBRARY SCHEDULE OF LOCAL REVENUE 
YEAR ENDED JUNE 30, 2002 
LOCAL SOURCES City Governments Lyons Vidalia County Government Board of Commissioners Toombs Public Llbranes Glennville City Public Library (Tattnall County) Montgomery County Public Library Tattnall County Public Library 
 
SCHEDULE "3" 
 
GOVERNMENTAL FUND TYPE GENERAL FUND 
 
$ 
 
3,99996 
 
67,00000 
 
46,49802 
28,10371 13,05431 26,873 74 
 
$ 
 
185,52974 
 
See notes to the general-purpose financial statements - 20- 
 
 OHOOPEE REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL 
YEAR ENDED JUNE 30, 2002 
 
SCHEDULE "4" 
 
NAME 
Buckbee, Bacon, Donaldson, Dougherty, Doyle, Dwyer, Eason, Ervin, Evans, Fennel, GarCia, Gres, Hams, Hartz, Holland, Jin, Jones, Kennedy, McLendon, Moxley, Nimmons, Peeler, Pinkston, Sanford, Shoemaker, Smith, Smith, Stinnett, Thompson, Thompson, Tomlinson, Trull, Villella, Wilson, 
 
Brenda G Jessica Ronald D Cynthia M Allison W Sandra I Linda J Barbara J Marvin L Debra Betty J Dusty FeliCia M Emilie K Donnell GuoJla William M Christy Denise Betty W Nancy J Dana L Laura T India K Elizabeth D Laura L Taneka M Betty F Carolyn M Sally J Jeff A Melba F Ann K Patty R 
 
Accruals June 30, 2002 
 
TITLE CATEGORY 
Branch Clerk Branch Clerk Branch Clerk Circulation Clerk Branch Clerk Branch Clerk Substitute Branch Clerk Substitute Branch Clerk Branch Clerk Branch Manager Custodian Director Substitute Branch Clerk Branch Manager Administration Clerk Technical Services Librarian Substitute Branch Clerk Branch Clerk Branch Clerk Administrative ASSistant Branch Clerk Assistant Director Substitute Branch Clerk Branch Manager ExtenSion Services Librarian Circulation Clerk Branch Clerk Branch Clerk Branch Manager Circulatton Supervisor Public Services Librarian Bookmobile Coordinator Branch Clerk Branch Manager 
 
Totals per Report 
 
SALARIES 
 
TRAVEL 
 
$ 
 
3,38308 
 
509.26 
 
2,71950 
 
91639 
 
1,08413 
 
1,41350 
 
2625 
 
56000 
 
4,03288 $ 3248 
 
8,71569 
 
3,71566 
 
61,04194 1,45061 
 
735O 
 
1,72329 
 
5,08747 
 
10332 
 
50,38464 
 
37904 
 
2,42509 
 
22050 
 
220.00 
 
16,390.58 
 
15484 
 
5,585.44 
 
47,692.64 1,08092 
 
94 50 
 
14,59882 
 
3752 
 
20,175.92 
 
21140 
 
3,79183 
 
4872 
 
5,21399 
 
1,144.00 
 
5,464 25 
 
13,83204 
 
6,914.84 
 
11340 
 
13,53925 
 
404 25 
 
13,32304 
 
4292 
 
$ 316,41816 $ 3,655.17 
 
1,70559 
 
$ 316,41816 $ 5,360.76 
 
See notes to the general-purpose financial statements - 21 - 
 
 SECTION II FINDINGS AND QUESTIONED COSTS 
 
 OHOOPEE REGIONAL LIBRARY SCHEDULE OF FINDINGS AND QUESTIONED COSTS 
YEAR ENDED JUNE 30, 2002 
PRIOR YEAR/CURRENT YEAR 
GENERAL FIXED ASSETS Failure to Maintain Accurate Subsidiary Records Finding Control Number: FS-7932-0 1-03 
The Library failed to maintain accurate subsidiary records for equipment inventory. The subsidiary records presented for audit failed to include current year and prior years additions and deletions. The inaccurate subsidiary equipment inventory records were the result ofmanagement's failure to record additions and deletions to the original subsidiary records. The Library should maintain accurate subsidiary records for the General Fixed Assets Account Group to include annual additions and deletions.