Audit report, Sara Hightower Regional Library, Rome, Georgia, year ended June 30, 2000

STATE OF GEORGIA

DEPARTMENT OF AUDITS AND ACCOUNTS

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SARA HIGHTOWER REGIONAL LIBRARY

.

ROME, GEORGIA



REPORT ON AUDIT

OF THE FINANCIAL STATEMENTS

FOR THE FISCAL YEAR ENDED JUNE 30/2000




Russell W. Hinton state Auditor

SARA HIGHTOWER 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

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

C

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL AND SPECIAL REVENUE FUNDS
D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

SCHEDULES

ADDmONAL FINANCIAL" INFORMATION

SCHEDULE OF REVENUE

-

1

STATE

2

FEDERAL

3

LOCAL

4 SCHEDULE OF SALARIES AND TRAVEL

SECTIONll FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS


Page
2
4 5 6
14
15 16 17


SECTION I FINANCIAL

-


RUSSELL W. HINTON
STATE AUDITOR
(404) 6562174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suu' 214 Atlanta, Georgia 30334-8400
June 15,2001

Honorable Roy E. Barnes, Governor

Members of the General Assembly



Members of the Board ofRegents of the

University System of Georgia

and

Director and Members of the

Sara Hightower 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 Sara Hightower Regional Library, as ofand for the year ended June 30, 2000, as listed in the table ofcontents. These general purpose financial statements are the responsibility ofthe Sara Hightower 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 ofAmerica. 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.

In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position ofthe Sara Hightower Regional Library as ofJune 30, 2000, and the results of its operations for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

2000ARL-40A

Our audit was perfonned for the purpose of fonning an opinion on the general purpose financial statements of the Sara Hightower R mal Library taken as a whole. The accompanying financial schedules (Schedules 1 through 4) '; sted in the table of contents, are presented for purposes of additional analys; -; and are not a reqmred part ofthe general purpose financial statements ofthe Sara Hightower Regional Library. Such infonnation has been subjected to the auditing procedures applied in the audit ofthe 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 ofthis report has been filed as a pennanent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code ofGeorgia Annotated Section 50-
6-24.

Respectfully submitted,


RWH:gp 2000ARL-40A

Rus ell W. Hinton State Auditor








SARA HIGHTOWER REGIONAL LIBRARY


SARA HIGHTOWER REGIONAL LIBRARY COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 2000

ASSETS Cash and Cash Equivalents Accounts Receivable General Fixed Assets
Equipment Inexhaustible Collections and Books Amount to be Provided in Future Years For Payment of Compensated Absences
Total Assets

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

$

485,437.87 $

0.00

6,844.78

$

492,282.65 $ ======~O;';;;"O~O

LIABILITIES AND FUND EQUITY

LIABILITIES

Cash Overdraft

Accounts Payable

Expired Grant Balances Payable

-

Compensated Absences





Total Liabilities

FUND EQUITY
Investment in General Fixed Assets Fund Balances
Unreserved Undesignated
Total Fund Equity

Total Liabilities and Fund Equity



-$

31,183.65

$ _ _....;3::..;1:.J..1':.=8:::;3.:=,65:..



$

461,099.00 $

$

461,099.00 $

$

492,282.65 $



~O.:=,OO:.. ~O.:.:::.O.:..O
.......:=;;;.0;,;;;.0.=0

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 OnIV'---

_

JUNE 30, 2000

JUNE 30, 1999

$

485,437.87 $

330,201.84

6.844.78

7.206.33

$ 1.663.639.44 3.241,588.08



1,663.639.44

1.696.753.15

3,241,588.08

3.314,534.58

______ $

4. :.;5: .1.,7.:. .:1:.,:8,;.:.0:.;:. 9

45.718.09

47.341.52

$ 4,905.227.52 $

45.718.09 $

5,443.228.26 $

5,396.037.42


$ $

$ 4,905.227.52
$ 4,905,227.52

$
4.;,.:5~7.~1.=:8.:.::.09::..
45.718.09 $
$
$



$
31,183.65
45.718.09

7,206.33 2,937.41
476.36 47.341.52

76,901 .74 $ _ _"",-57"-,,.;;.;96;;...;.1=.6.;;..2

4.905,227.52 $ 5.011.287.73

461,099.00
5,366.326.52 $

326.788.07 5,338,075.80

$ 4.905,227.52 $

45.718.09 $

5,443,228.26 $ 5,396,037.42

-3-

SARA HIGHTOWER REGIO!'.lAL LIBRARY COMBINED STATEM!,;NT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
YEAR ENDED JUNE 30, 2000 .

EXHIBIT "B"


GENERAL FUND

SPECIAL REVENUE
FUND

TOTALS

(Memorandum OnlyL,.)

_

YEAR ENDED

JUNE 30, 2000

JUNE 30, 1999

REVENUES

State Funds Federal Funds Local Funds Other Funds

$ 465,914.00 $
1,413,663.20 206,924.62

$ 58,584.30

465,914.00 $ 58,584.30
1,413,663.20 206,924.62

466,556.92 46,824.35 1,491,686.46 81 ,558.75

Total Revenues

$ 2,086,501.82 $ 58,584.30 $

2,145,086.12 $ _--=:2:l.::0':..::8~6,.::::62::.::6:.:...4=8

EXPENDITURES

Current Public Services Technical Services Support Services Maintenance and Operation

$ 1,231,631.96 $ 160,624.42 298,748.57 261,185.94

8,529.85 $
50,029.77 24.68

1,240,161.81 $ 160,624.42 348,778.34 261,210.62

1,190,511.79 170,036.06 292,676.87 374,741.04

Total Expenditures

$ 1,952,190.89 $ 58,584.30 $ 2,010,775.19 $ _--=:2:l.::0'0:.27.:.J,;::;96::.::50:.7:'-=-6

Excess of Revenues over (under) Expenditures

$ 134,310.93 $

0.00 $

134,31 0.93 $ _ _~58:::.l,;::;66::.::00:.7.:.'::..2

OTHER FINANCING SOURCES (USES)

Operating Transfers In Operating Transfers Out

$

219.36

-219.36

Total Other Financing Sources (Uses)

$

. .:00.:,:.0:. :. 0

Excess of Revenues and Other Financing Sources

over (under) Expenditures and Other Financing

Uses

$

FUND BALANCE JULY 1

134,310.93 $ 326,788.07

0.00 $ 0.00

134,310.93 $ 326,788.07

58,660.72 268,127.35

FUND BALANCE JUNE 30

$ 461,099.00 $

0.00 $ _ _.4.6.0.;.1,099.00 $ _ ......_3=26~,_78=8~.0;,:".7

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

SARA HIGHTOWER REGIONAL LIBRARY COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL GENERAL AND SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30, 2000

EXHIBIT "C"

GENERAL FUND

BUDGET

ACTUAL

REVENUES

State Funds Federal Funds Local Funds Other Funds

$ 464,850.01 $ 465,914.00

1,415,512.05 108,855.58

1,413,663.20 206,924.62

Total Revenues

$ 1,989,217.64 $ 2,086,501.82

EXPENDITURES

Current Public Services Technical Services Support Services Maintenance and Operation

$ 1,267,347.04 $ 1,231,631.96

159,379.15

160,624.42

316,799.48

298,748.57

286,851.33

261,185.94

Total Expenditures

$ 2,030,377.00 $ 1,952,190.89

Excess of Revenues over (under) Expenditures $ -41,159.36 $ 134,310.93

FUND BALANCE JULY 1, 1999

326,788.07

326,788.07

SPECIAL REVENUE FUND

BUDGET

ACTUAL

$

58,364.94 $

58.584.30

$

58,364.94 $ _ _5:::.:8::.,,;,5::::84:..=.3~0

$

8,310.30 $

8,529.85

50,029.77 24.68

50,029.77 24.68

$

58,364.75 $ _--=5.=.!8,:=.:584~.3.=..0

$

0.19 $

0.00

0.00

0.00

FUND BALANCE JUNE 30, 2000

$ 285,628.71 $ 461,099.00

$

0.19 $

0;,;;.0.0.

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

SARA HIGHTOWER REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
REPORTING ENTITY
The Sara Hightower 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 othezwise disclosed in these notes, the financial statements present all fund types and account groups of the Library.
The Library Board consists of 16 members; 11 members appointed from the Floyd County Library Board and 5 members appointed from the Polk 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 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 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 Floyd County Library Board appoints a majority ofthe Sara Hightower Regional Library's Board, the Floyd 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 Sara Hightower Regional Library is therefore considered to be a related organization of the Floyd 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 ofaccounts. 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 othezwise disclosed in these notes. Funds and account groups 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:
-6-

SARA HIGHTOWER REGIONAL LffiRARY

EXHffiIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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.
,
ACCOUNT GROUPS
GENERAL FIXED ASSETS ACCOUNT GROUP - a financial reporting device used to account for all general fixed assets acquired by the Library which includes land, buildings, equipment and inexhaustible collections and books. The Floyd County Board ofCommissioners owns the land and buildings utilized in the operation of the library.
GENERAL LONG-TERM DEBT ACCOUNT GROUP - a financial reporting device used to account for compensated absences obligations.
BASIS OF ACCOUNTING
The accounting and financial reporting treatment applied to a fund is determined 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 ofthese 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-Term Debt Account Group.
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 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.
-7-

SARA HIGHTOWER REGIONAL LillRARY

EXHillIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BUDGET
The Sara Hightower 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 ofbudget 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 ofthis 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 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 of deposits in au~orized 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 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 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 ofpurchase. 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 ofthe 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 ofthe assets is not capitalized.
-8-

SARA HIGHTOWER REGIONAL LffiRARY

EXHffiIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

COMPENSATED ABSENCES

Compensated absences represent obligations ofthe 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 initiallymade 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 they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results ofoperations 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.

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 ofmoney 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.

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 ofthe 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,

-9-

SARA HIGHTOWER REGIONAL LffiRARY

EXHffiIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 2: DEPOSITS

(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 ofthe 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.

CATEGORIZATION OF DEPOSITS At June 30, 2000, the bank balances were $534,408.01. 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, 2000, as follows:

Risk CategoIY.

Bank Balance

1

$ 100,000.00

2

0.00

3

434,408.01

Total

$ 534.0408,01

- 10-

.. - - - - - - -

SARA HIGHTOWER REGIONAL LffiRARY

EXHffiIT "D"

NOTES TO THE GENERAl DTJRPOSE FINANCIAL STATEMENTS

,...)0,2000

Note 3: GENERAL FIXED ASSETS

A summary of changes in the General Fixed Assets Account Group during the fiscal year are as follows:

Equipment

Inexhaustible Collections and
Books

Total

Balance July 1, 1999

$ 1,696,753.15 $ 3,314,534.58 $ 5,011,287.73

Additions

54,086.12

496,953.50

551,039.62

Deductions

87,199.83

569,900.00

657,099.83

Balance June 30, 2000

$ l.663.639.44 $:J..241.58.08 $ 4.905.227.,56

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; natural disaster; and unemployment compensation.

The Library has obtained commercial insurance for risk ofloss associated with torts, assets, errors or omissions 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.

The Library has elected to self-insure for all losses related to natural disaster. The Library has not experienced any losses related to this risk in the past three years.

The Library is self-insured with regard to unemployment compensation claims. The Library accounts for clai.ms 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



$ 10,000.00

- 11 -

-----~_._-_._-

SARA HIGHTOWER REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 5: GENERAL LONG-TERM DEBT

The changes in General Long-Term Debt during the fiscal year ended June 30, 2000, were as follows:

Compensated Absences

Balance July 1, 1999

$ 47,341.52

Deductions Annual Leave Earned and Utilized (Net)

1,623.43

Balance June 30, 2000

$ 45,718.09

Note 6: ACCUMULATED EMPLOYEES' LEAVE

The Library's professional personnel earn annual leave at a rate up to 30 days per year based upon the number of years employment and professional training. Annual leave is maintained on a calendar basis and all unused annual leave at December 31 each year is forfeited. Employees who terminate employment will be paid for accumulated unused annual leave in the year oftermination. See Note
1 - Compensated Absences

Note 7: 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 11.29% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows:



- 12-

,



SARA HIGHTOWER REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2000

Note 7: RETIREMENT PLANS
Fiscal Year 2000 1999 1998

Percentage Contributed
100% 100% 100%

Required Contribution
$ 114,886.62 $ 119,596.08 $ 114,830.32




- 13 -

SARA HIGHTOWER REGIONAL LIBRARY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2000
AGENCY/FUNDING
GRANTS Technical and Adult Education, Georgia Department of Public Libraries Salaries Travel Library Materials Talking Books Center Maintenance and Operation

SCHEDULE "1"

GOVERNMENTAL FUND TYPE GENERAL FUND

$

236,908.00

4,200.00

71,543.00

85,320.00

67,943.00

$

465,914.00

See notes to the general purpose financial statements. -14 -

SARA HIGHTOWER REGIONAL LIBRARY SCHEDULE OF FEDERAL REVENUE
YEAR ENDED JUNE 3D, 2000

SCHEDULE "2"

AGENCY/FUNDING
GRANTS Education, U. S. Department of Through Georgia Department of Human Resources Technology Related Assistance for Individuals with Disabilities Education Act Title I - Technology Assistance Program Tools for Life Museum and Library Services, Institute of Through Georgia Department of Technical and Adult Education Library Services and Technology Act State Library Program

GOVERNMENTAL FUND TYPE SPECIAL REVENUE FUND

$

8,584.30

50,000.00

$

58,584.30

-




See notes to the general purpose financial statements.
-15 -

SARA HIGHTOWER REGIONAL LIBRARY SCHEDULE OF LOCAL REVENUE
YEAR ENDED JUNE 3D, 2000

LOCAL SOURCES

Boards of Education

Floyd County

Polk County

Rome, City of

City Governments

Cave Spring



Cedartown

Rockmart

Rome

County Governments

Boards of Commissioners

Floyd

Polk


-



SCHEDULE "3"

GOVERNMENTAL FUND TYPE GENERAL FUND

$

8,000.00

8,000.00

8,000.00

12,316.14 31,291.14 33,570.90 484,685.02

742,260.00 85,540.00

$

1,413,663.20


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

SARA HIGHTOWER REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL
YEAR ENDED JUNE 30, 2000

SCHEDULE "4"

NAME
Amos, Bames, Bostwick, Bouchard, Brandin, Bray, Bridges, Bright, Brooks, Broome, Caldwell, Carlson, Cleveland, Cooley, Comett, Craw, Davidson, Dillard, Dixon, Dollar, Doyle, Drummond, Drummond, DUden, Dudley, Duncan, Early, Easterwood, Evans, Evans, Floyd, Forrister, Frasier, Gee, Gentry, Gibbons, Gilbert, Gorham, Green, Greene, Hall, Hampton, Hardy, Havens, Howard, Johnson, Johnston, Kinzer, Kwiatkowski,

Patricia Angela Heather Harvey Britney Kelly Jane Tommy Amy Sandra Melanie Susan Sharon Susan Kimberly Laurie Joann Krista Tiffany Edward James Holly Regina Ruth Kimberly Martha JUdy Melissa Barbara James Linda Deborah Anna Margaret Teresa Mary Anne Lynn Jamie Gary Jennifer Dawn Tiffany Sarah Gia Alice Patricia Jacqueline Karen

TITLE CATEGORY
Library Assistant Library Assistant Librarian Non Certified Branch Manager/Supervisor Library Assistant Library Assistant Library Aide Grounds Maintenance Library Aide Librarian Non Certified

Certified Librarian Branch Manager/Supervisor Library Assistant Director Library Assistant Library Assistant Branch Manager/Supervisor Library Assistant Library Assistant Branch Manager/Supervisor Certified Librarian Library Assistant Library Assistant Branch Manager/Supervisor Library Assistant Library Assistant Library Assistant Library Assistant Branch Manager/Supervisor Librarian Non Certified Associate Director Library Assistant Library Assistant Library Assistant Certified Librarian Library Aide Library Assistant Library Assistant Library Assistant Library Assistant Library Assistant Librarian Non Certified Library Assistant Library Aide Library Assistant Librarian Non Certified Librarian Non Certified Library Assistant Library Assistant

See notes to the general purpose financial statements.
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SALARIES


TRAVEL

$

675.34

18,420.30

16,783.72 $

35.00

19,086.00

1,524.66

690.62

24,165.29

6,983.20

514.27

28,071.40

35,529.30

158.00

27,378.42

249.80

21,507.44

458.84

57,641.86

2,163.13

460.47

1,259.18

25,043.22

255.36

5,430.91

398.25

29,351.55

53,485.84

25.00

3,939.93

13,322.20

3.53

33,604.74

209.39

2,110.58

24,664.96

17,019.24

1,974.99

35,529.30

276.12

31,556.58

52,301.32

2,051.67

9,807.25

1,759.85

3,290.07

33,600.54

60.00

24,546.48

201.00

18,425.83

12.00

3,105.45

2,289.23

2,692.60

13,748.94

18,420.30

15.28

3,137.79

1,033.35

2,711.70

22,820.94

237.50

11,988.06

4,026.00

197.96

SARA HIGHTOWER REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL
YEAR ENDED JUNE 30, 2000

SCHEDULE "4"

NAME
Lackey, Lowe, Machan, Mann, Martin, McKenzie, Mills, Mink, Moore, Morris, Mull, Munro, Ortman, Penn, Price, Rampley, Reid, Ridgeway, Roberts,
Russell, Russell, Ruth, Schulz, Simpkins, Smith, Spear, Stephens, Sutton, Swanson, Treadaway, Wallace, Whelchel, Wheler, Wilkerson, Wilkerson, Woodard,

Diane Judith Sandra Jeanne Amanda Brady Diana Daniel Kristy Linda Wendy Amelia Tracy Zina Mary Janice James Jeannie Jeannie
Lucie Roxanne Savannah Barbara Karen Janet Teri Michael Jerry Elizabeth Breanda Deana MaryAnn Kimberly Carolyn Sandra Frances

Totals per Report

TITLE CATEGORY
Branch Manager/Supervisor Librarian Non Certified Branch Manager/Supervisor Library Assistant Library Aide Library Assistant Certified Librarian Library Assistant Library Assistant Library Assistant Library Assistant Library Assistant Library Assistant Library Assistant Library Assistant Library Assistant Library Assistant Library Assistant Library Assistant Librarian Non Certified Library Assistant
Library Assistant Library Assistant Library Assistant Library Assistant

Library Assistant Librarian Non Certified Library Aide Library Assistant _ Library Assistant Library Aide Library Assistant Librarian Non Certified Library Assistant Librarian Non Certified Library Assistant

SALARIES

TRAVEL

$

29,274.90 $

40.28

17,619.97

289.61

19,699.51

15,977.28

265.65

840.79

760.76

42,856.30

1,076.58

631.05

1,438.09

3,693.47

2,886.45

1,025.99

737.53

22,094.12

233.45

4,687.28

18,138.30

12.00

14,806.14

378.79

18,540.09

2,064.03

2,551.30

17,875.66

3.53

914.98

182.98

729.61

18,540.09

617.33

44.00

4,689.32

11,716.28

409.50

18,774.96

"238.81

14,046.66

130.19

24,664.96

4,690.87

$ 1,106,580.90 $ 8,747.58

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See notes to the general purpose financial statements.
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SECTIONll FINDINGS AND QUESTIONED COSTS

SARA HIGHTOWER REGIONAL LIDRARY SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED JUNE 30, 2000
CURRENT YEAR CASH AND CASH EQUNALENTS Uncollateralized Deposits Finding Control Number: 6572-00-01 As of June 30,2000, the Sara Hightower Regional Library failed to have its bank balances fully collateralized as provided for by the Official Code of Georgia Annotated Section 45-8-12 which states, in part, as follows:
"The collecting officer or officer holding public funds may not have on deposit at any time in any depository for a time longer than ten days a sum of money belonging to the public body when such depository has not given bond to the public body as set forth in this code section...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 of the amount of deposit insurance." This noncompliance occurred because of management's failure to adequately monitor the collateralization of balances at individual banks. The Board should implement procedures to monitor the collateralization of bank balances to ensure compliance at all times with State laws governing deposits and investments.

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