Southwest Georgia Regional Library, Bainbridge, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2004

SOUTHWEST GEORGIA REGIONAL LIBRARY
BAINBRIDGE, GEORGIA REPORT ON AUDIT
OF THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2004
STATE OF GEORGIA
DEPARTMENT OF AUDITS AND ACCOUNTS
Russell W. Hinton State Auditor

SOUTHWEST GEORGIA REGIONAL LIBRARY - TABLE OF CONTENTS -

FINANCIAL

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

EXHIBITS

BASIC FINANCIAL STATEMENTS

DISTRICT-WIDE FINANCIAL STATEMENTS

A

STATEMENT OF NET ASSETS

B

STATEMENT OF ACTIVITIES

FUND FINANCIAL STATEMENTS

C

BALANCE SHEET

GOVERNMENTAL FUND

D

RECONCILIATION OF THE GOVERNMENTAL FUND BALANCE SHEET

TO THE STATEMENT OF NET ASSETS

E

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES

IN FUND BALANCE

GOVERNMENTAL FUND

F

RECONCILIATION OF THE GOVERNMENTAL FUND STATEMENT

OF REVENUES, EXPENDITURES AND CHANGES IN FUND

BALANCE TO THE STATEMENT OF ACTIVITIES

G

NOTES TO THE BASIC FINANCIAL STATEMENTS

SCHEDULES

REQUIRED SUPPLEMENTARY INFORMATION

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL FUND

SUPPLEMENTARY INFORMATION

SCHEDULES OF REVENUE

2

STATE

3

FEDERAL

4

LOCAL

5 SCHEDULE OF SALARIES AND TRAVEL

Page
3 4 5 6 7 9 10
19
20
21 22 23

FINANCIAL

Russell W. Hinton
STATE AUDITOR
(404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
270 Washington Street, S.W., Suite 1-156 Atlanta, Georgia 30334-8400
August 16, 2005

Honorable Sonny Perdue, Governor Members of the General Assembly Members of the Board of Regents ofthe University System of Georgia
and Director and Members of the Southwest Georgia Regional Library Board
INDEPENDENT AUDITOR'S COMBINED REPORT ON BASIC FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION
Ladies and Gentlemen:
We have audited the accompanying financial statements ofthe governmental activities and the major fund (Exhibits A through G) ofthe Southwest Georgia Regional Library as ofand for the year ended June 30, 2004, which collectively comprise the Library's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the Southwest Georgia Regional Library's management. Our responsibility is to express opinions on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States ofAmerica. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and the major fund of the Southwest Georgia Regional Library, as of June 30, 2004, and the respective changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America.

2004ARL-41

The Southwest Georgia Regional Library has not presented Management's Discussion and Analysis that accounting principles generally accepted in the United States has determined is necessary to supplement, although not to be part of, the basic financial statements.

As described in Note 2, the Southwest Georgia Regional Library has implemented a new financial reporting model as required by provisions of Governmental Accounting Standards Board Statement No. 34, Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments, as of June 30, 2004.

The Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual, as presented on page 19 is not a required part of the basic financial statements but is supplementary information required by the accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods ofmeasurement and presentation ofthe required supplementary information. However, we did not audit the information and express no opinion on it.

Our audit was conducted for the purpose of forming opinions on the financial statements that

collectively comprise the Southwest Georgia Regional Library's basic financial statements. The

accompanying supplementary information which consist of Schedules 2 and 5, are presented for

purposes of additional analysis and are not a required part of the basic financial statements. Such

information has been subjected to the auditing procedures applied in the audit ofthe basic financial

statements, and in our opinion, is fairly stated in all material respects in relation to the basic financial

statements taken as a whole.



A copy ofthis report has been filed as a permanent record in the office ofthe State Auditor ap.d made available to the press ofthe State, as provided for by Official Code of Georgia Annotated section 506-24.

Respectfully submitted,
~ .. .Q24Al.~
Russell W. Hinton State Auditor

RWH:gp 2004ARL-41

SOUTHWEST GEORGIA REGIONAL LIBRARY

SOUTHWEST GEORGIA REGIONAL LIBRARY STATEMENT OF NET ASSETS JUNE 30, 2004

EXHIBIT"A"

ASSETS Cash and Cash Equivalents Capital Assets
Land Buildings Equipment Library Collections Less: Accumulated Depreciation
Total Assets
LIABILITIES Accounts Payable Long-Term Liabilities
Due in More Than One Year Total Liabilities NET ASSETS
Invested in Capital Assets, Net of Related Debt Unrestricted
Total Net Assets
Total Liabilities and Net Assets

GOVERNMENTAL ACTIVITIES

$

544,569

35,345 2,595,100
237,698 3,087,165 -3,402,362

$ ======3~,0=9=7'!.:5=15~

$

3,530

44,841

$

48,371

$

2,552,946

496198

$

3,049,144

$ ===3::!.,0=9=7=,5=15:::::::

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

SOUTHWEST GEORGIA REGIONAL LIBRARY STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30. 2004

EXHIBIT"B"

EXPENSES

PROGRAM REVENUES

OPERATING

CHARGES FOR

GRANTS AND

SERVICES

CONTRIBUTIONS

NET (EXPENSES) REVENUES
AND CHANGES IN NET ASSETS

GOVERNMENTAL ACTIVITIES

Current Services Public Services Technical Services Support Services Maintenance and Operations Information Technology
Total Governmental Activities

$ 576,109 $ 33,820
401,431 92,316 18 688
$ 1,1221364 $

13,916 $ 13 916 $

395,266 $ 33,819

-166,927 -33,820
-401,431 -58,497 -18 688

429 085 $ _ _ _ _-6.::.;7c.::;9.c;:,3c:.63:....

General Revenues Allotments from Participating Governments Investment Earnings Miscellaneous

$

558,401

5,285

79141

Total General Revenues

$ _ _ _.....::;64:;::2..=8::::.27,_

Change in Net Assets

$

-36,536

Net Assets - Beginning of Year (Restated)

3 085 680

Net Assets - End of Year

$ ====3=04;.;,;;,9.1.4=4=

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

SOUTHWEST GEORGIA REGIONAL LIBRARY BALANCE SHEET
GOVERNMENTAL FUND JUNE 30, 2004
ASSETS Cash and Cash Equivalents
LIABILITIES AND FUND BALANCES LIABILITIES
Accounts Payable FUND BALANCES
Unreserved Designated for Affiliates Undesignated Reported in: General Fund Total Fund Balances
Total Liabilities and Fund Balances

EXHIBIT"C"
GENERAL FUND
$ ===5=44=.5=6=9=

$

3,530

$

164,818

376,221

$

541,039

$ ===5=44='=56=9=

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

SOUTHWEST GEORGIA REGIONAL LIBRARY RECONCILIATION OF THE GOVERNMENTAL FUND BALANCE SHEET
TO THE STATEMENT OF NET ASSETS JUNE 30, 2004

EXHIBIT"D"

Total Fund Balance - Governmental Fund (Exhibit "C")
Amounts reported for Governmental Activities in the Statement of Net Assets are different because:
Capital Assets used in Governmental Activities are not financial resources and therefore are not reported in the funds. These assets consist of:
Land Buildings Equipment Library Collections Accumulated Depreciation
Total Capital Assets
Long-Term Liabilities are not due and payable in the current period and therefore are not reported as liabilities in the funds. Long-Term Liabilities at year-end consist of:
Compensated Absences

$

541,039

$

35,345

2,595,100

237,698

3,087,165

-3,402,362

2,552,946

-44,841

Net Assets of Governmental Activities (Exhibit "A")

$ =====3...,,0..,49...,.1=4=4

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

SOUTHWEST GEORGIA REGIONAL LIBRARY STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCE
GOVERNMENTAL FUND YEAR ENDED JUNE 30. 2004

EXHIBIT "E"

REVENUES
Local Funds State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous
Total Revenues
EXPENDITURES
Current Public Services Technical Services Support Services Maintenance and Operations Information Technology
Total Expenditures
Net Change in Fund Balance
Fund Balance - Beginning
Fund Balance - Ending

GENERAL FUND

$

558,401

423,297

5,788

13,916

5,285

79 141

$ 1,085,828

$

500,440

33,820

400,042

92,316

16 244

$ 1,042,862

$

42,966

498,073

$ ==5=4=1,=03=9=

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

SOUTHWEST GEORGIA REGIONAL LIBRARY RECONCILIATION OF THE GOVERNMENTAL FUND STATEMENT OF
REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCE TO THE STATEMENT OF ACTIVITIES
JUNE 30. 2004

EXHIBIT"F"

Total Net Change in Fund Balance - Governmental Fund (Exhibit "E")

$

Amounts reported for Governmental Activities in the Statement of Activities are different because:

Capital Outlays are reported as expenditures in Governmental Funds. However. in the Statement of Activities, the cost of Capital Assets is allocated over their estimated useful lives as depreciation expense. In the current period, these amounts are:

Capital Outlay Depreciation Expense
Excess of Depreciation Expense over Capital Outlay

$

165,302

-242,617

Some items reported in the Statement of Activities do not require the use of current financial resources and therefore are not reported as expenditures in Governmental Funds. These activities consist of:

Increase in Compensated Absences

42.966
-77,315 -2187

Change in Net Assets of Governmental Activities (Exhibit "B")

$ ===-==36=,5==3=6

The notes to the basic financial statements are an integral part of this statement. -9-

SOUTHWEST GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30. 2004

EXHIBIT"G"

Note 1: DESCRIPTION OF LIBRARY AND REPORTING ENTITY
REPORTING ENTITY
The Southwest Georgia 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 Library Board is comprised of 12 members which are also trustees ofthe member library which appointed them. The Library Board membership consists of6 members appointed from the Decatur County Library Board, 3 members appointed from the Miller County Library Board and 3 members appointed from the Seminole County Library Board.
Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION
The Library's basic financial statements are collectively comprised of the Library-wide financial statements, fund financial statements and notes to the basic financial statements of the Southwest Georgia Regional Library.
Library-wide Statements: The Statement ofNet Assets and the Statement ofActivities display information about the financial activities of the overall Library. Eliminations have been made to minimize the double counting of internal activities. Governmental activities generally are financed through intergovernmental revenues and other nonexchange transactions.
The Statement ofActivities presents a comparison between direct expenses and program revenues for each function of the Library's governmental activities.
Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Indirect expenses (expenses of the Library related to the administration and support ofthe Library's programs, such as office and maintenance personnel and accounting) are not allocated to programs.
Program revenues include (a) charges paid by the recipients ofgoods or services offered by the programs and (b) grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Revenues that are not classified as program revenues are presented as general revenues.
Fund Financial Statements: The fund financial statements provide information about the Library's funds. Eliminations have been made to minimize the double counting of internal activities. The emphasis on fund financial statements is on major governmental funds.
-10-

SOUTHWEST GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2004

EXHIBIT"G"

Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Library reports the following major governmental fund:
General Fund is the Library's primary operating fund. It accounts for all financial resources of the Library.
BASIS OF ACCOUNTING
The basis ofaccounting determines when transactions are reported on the financial statements. The Library-wide governmental financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place. Nonexchange transactions, in which the Library gives (or receives) value without directly receiving (or giving) equal value in exchange, include grants and donations. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied.
The Library uses funds to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts.
Governmental funds are reported using the current financial resources measurement focus and the modified accrual basis ofaccounting. Under this method, revenues are recognized when measurable and available. The Library considers all revenues reported in the governmental funds to be available if they are collected within sixty days after year-end. Interest is considered to be susceptible to accrual. Expenditures are recorded when the related fund liability is incurred, except for compensated absences, which are recognized as expenditures to the extent they have matured. Capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of acquisitions under capital leases are reported as other financing sources.
The Library funds certain programs by a combination of specific cost-reimbursement grants, categorical grants, and general revenues. Thus, when program costs are incurred, there are both restricted and unrestricted net assets available to finance the program. It is the Library's policy to first apply grant resources to such programs, followed by cost-reimbursement grants, then general revenues.
CHANGES IN ACCOUNTING PRINCIPLES
The Southwest Georgia Regional Library has implemented a new financial reporting model as required by provisions of Governmental Accounting Standards Board Statement No. 34, Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments, as of June 30, 2004.

- 11 -

SOUTHWEST GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2004

EXHIBIT"G"

Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The provisions of GASB Statement No. 34 require the inclusion of a Statement ofNet Assets. The elements comprising Net Assets - Beginning include the following:

General Fund July 1, 2003 Capital Assets
Balance July 1, 2003 Adjustments to Prior Year Balance Accumulated Depreciation Compensated Absences

$ 498,073
3,034,828 2,853,375 -3,257,942
-42,654

Net Assets Beginning (See Exhibit "B")

$ 310851680

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 OCGA 45-8-14 authorize the Library to deposit its funds in one or more solvent banks or insured Federal savings and loan associations.

CAPITAL ASSETS

Capital assets purchased, including capital outlay costs, are recorded as expenditures in the fund financial statements at the time ofpurchase. On the Library-wide financial statements, all purchased capital assets are valued at cost where historical records are available and at estimated historical cost based on appraisals or deflated current replacement cost where no historical records exist. Donated capital assets are recorded at estimated fair market value on the date donated. Disposals are deleted at depreciated recorded cost. The cost of normal maintenance and repairs that do not add to the value of assets or materially extend the useful lives ofthe assets is not capitalized. Depreciation is computed using the straight-line method.

Capitalization thresholds and estimated useful lives of capital assets reported in the Library-wide statements are as follows:

Capitalization Policy

Estimated Useful Life

Land Buildings Equipment Library Collections

All

NIA

$

5,000 20 to 40 years

$

5,000 5 to 20 years

All

10 years

Depreciation is used to allocate the actual or estimated historical cost of all capital assets over estimated useful lives.

- 12 -

SOUTHWEST GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2004

EXHIBIT"G"

Note 3: DEPOSITS
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum ofmoney which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate ofthe face value of such surety bond and the market value of securities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. If a depository elects the pooled method (OCGA 45-8-13.1) the aggregate ofthe market value ofthe securities pledged to secure a pool ofpublic funds shall be not less than 110 percent ofthe daily pool balance. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts.
Acceptable security for deposits consists of any one of or any combination of the following:
(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia,
(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
(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 or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.
CATEGORIZATION OF DEPOSITS At June 30, 2004, the bank balances were $605,812. The amounts of the total bank balances are classified into three categories of credit risk:

- 13 -

SOUTHWEST GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2004

EXHIBIT"G"

Note 3: 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, 2004, as follows:

Risk Category

Bank Balance

1

$ 200,000

2

405,812

3

0

Total

$=~6-05=,8=1~2

Note 4: CAPITAL ASSETS

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

Balances July l, 2003 {Restated)

Increases

Balances Decreases June 30, 2004

Governmental Activities Capital Assets, Not Being Depreciated:
Land

$

35,345

$

35,345

Capital Assets Being Depreciated Buildings and Improvements Equipment Library Collections

$ 2,595,100 237,698
3,020,060 $

165,302 $

$ 98,197

2,595,100 237,698
3,087,165

Less Accumulated Depreciation for: Buildings and Improvements Equipment Library Collections

877,002 114,794 2,266,146

66,791 20,264 155,562

98 197

943,793 135,058 2,323,511

Total Capital Assets, Being Depreciated, Net $ 2,594,916 $

-77 315 $

0 $ 2,517,601

Governmental Activity Capital Assets - Net $ 2,630.261 $

-77.315 $

0 $ 2,552.946

Current year depreciation expense by function is as follows:

- 14 -

SOUTHWEST GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2004

EXHIBIT"G"

Note 4: CAPITAL ASSETS

Public Services Support Services Information Technology

$ 238,357 606
3,654

Note 5: RISK MANAGEMENT

$==2-42=,6-1_7

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, errors or omissions, job related illness or injuries to employees and acts of God with respect to contents located at the Decatur and Miller County Libraries. However, the policy does not cover structural losses caused by acts of God at either location. 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 at the Seminole County Library related to acts of God. 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 claims within the General Fund with expenses/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 unemployment compensation claims during the last two years.

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

Position Covered All Employees

Amount $ 100,000

Note 6: LONG-TERM DEBT

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

The changes in Long-Term Debt during the fiscal year ended June 30, 2004, were as follows:

- 15 -

SOUTHWEST GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2004

EXHIBIT"G"

Note 6: LONG-TERM DEBT

Governmental Fund
Compensated Absences (l)

Balance July 1, 2003

$

42,654

Additions Annual Leave Earned

46,685

Deductions Annual Leave Utilized

44498

Balance June 30, 2004

$====44-84-1

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

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 ofthe Library who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Library makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 9.24% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows:

- 16 -

SOUTHWEST GEORGIA REGIONAL LIBRARY NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2004

EXHIBIT"G"

Note 7: RETIREMENT PLANS
Fiscal Year 2004 2003 2002

Percentage Contributed
100% 100% 100%

Required Contribution

$

44,265

$

42,847

$

41,735

- 17 -

SOUTHWEST GEORGIA REGIONAL LIBRARY GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 2004

SCHEDULE "1"

REVENUES
Local Funds State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous
Total Revenues
EXPENDITURES
Current Public Services Technical Services Support Services Maintenance and Operations Information Technology
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES (USES)
Other Sources Other Uses
Total Other Financing Sources (Uses)
Net Change in Fund Balance
Fund Balance - Beginning

NONAPPROPRIATED BUDGETS

ORIGINAL

FINAL

ACTUAL AMOUNTS

$

544,343 $

544,338 $

558,401

337,030

423,297

423,297

74,093

1,650

5,788

13,916

5,285

61 383

79141

$

955,466 $

1,030,668 $

1,085,828

$

405,041 $

513,407 $

500,440

81,164

33,819

33,820

364,944

429,139

400,042

103,947

104,058

92,316

370

5454

16 244

$

955,466 $

1,085,877 $

1,042,862

$

0 $

-55 209 $

42,966

$

138,256 $

138,256

-138,256

-138,256

$

0 $

0

$

0 $

-55,209 $

42,966

0

430 579

498 073

Fund Balance - Ending

$ =========o $

375 370 $ ===5=4=10=39=

The accompanying schedule of revenues, expenditures and changes in fund balances budget and actual is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the fund financial statements.

See notes to the basic financial statements.

-19-

SOUTHWEST GEORGIA REGIONAL LIBRARY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2004

SCHEDULE "2"

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

GOVERNMENTAL FUND TYPE GENERAL FUND

$

306,955

1,500

6,253

33,819

74,770

$ = = = = 4 2 = 3..,.2.=97=

See notes to the basic financial statements.

-20-

SOUTHWEST GEORGIA REGIONAL LIBRARY SCHEDULE OF FEDERAL REVENUE YEAR ENDED JUNE 30, 2004

SCHEDULE "3"

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

GOVERNMENTAL FUND TYPE GENERAL FUND
$ =====5:!.:,7=8=8

See notes to the basic financial statements.

- 21 -

SOUTHWEST GEORGIA REGIONAL LIBRARY SCHEDULE OF LOCAL REVENUE YEAR ENDED JUNE 30. 2004

SCHEDULE "4"

LOCAL SOURCES City Government Bainbridge County Boards of Education Decatur Miller Seminole County Governments Boards of Commissioners Decatur Miller

GOVERNMENTAL FUND TYPE GENERAL FUND

$

1

318,040 83,193
156,666

1 500

$ =======5=5=8=4=01=

See notes to the basic financial statements.

- 22 -

SOUTHWEST GEORGIA REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL YEAR ENDED JUNE 30. 2004

SCHEDULE "5"

NAME

ANDERSON BRASWELL BROWN BUSH CALHOUN CHAPMAN EASOM FREEMAN GINGRAS GRIFFIN GRIMSLEY HEARD HUTCHINS JONES KARNES KARNES KELLY LEWIS LINDSEY MAGGIO MALLORY MILLER NAKANO RALPH ROBERTS SHEFFIELD SHEPPARD SMITH SOUTHALL SUDDERTH THORNTON WARD WHIDDON WHITTLE WORTHINGTON

CHANDRA A. REBECCAJ. CORENEP. THOMAS L. SHERRYL. MANDYM. JULIA M. ARLENE L. ANNE ELIZABETH MERCER MAX SUSAN B. EARNESTINE J. KATHY BROWN BERTHA MAE SHARON SUE TERRYW. ANNAM. SHARON REBECCA TAMMYC. THERESAG. CANDICEM. WILLIAM G. HIKARU SUSAN MARTIN TAMMYR. JULIA B. AMANDAD. JUDY MARIE PRISCILLA SHELLEYR. CAROLD. MARGIEW. VALERIEJ. SUSAN S. DEBORAH

TITLE CATEGORY

SALARIES

TRAVEL

BRANCH LIBRARY ASSISTANT

$

LIBRARY ASSISTANT

LIBRARY ASSISTANT

LIBRARIAN

LIBRARY ASSISTANT

LIBRARY ASSISTANT

CUSTODIAN

LIBRARY ASSISTANT

LIBRARY ASSISTANT

BOOKMOBILE ASSISTANT

BRANCH LIBRARY ASSISTANT

LIBRARY ASSISTANT

TALKING BOOK CENTER SUPERVISOR

LIBRARY ASSISTANT

TALKING BOOK CENTER ASSISTANT

BOOKMOBILE DRIVER

LIBRARY ASSISTANT

LIBRARY ASSISTANT

TALKING BOOK CENTER ASSISTANT

SPECIAL SERVICE LIBRARIAN

LIBRARY ASSISTANT

LIBRARY ASSISTANT

LIBRARY ASSISTANT

PUBLIC LIBRARIAN

LIBRARY ASSISTANT

LIBRARY ASSISTANT

LIBRARY ASSISTANT

BRANCH LIBRARY ASSISTANT

LIBRARY ASSISTANT

LIBRARY ASSISTANT

LIBRARY ASSISTANT

BOOKKEEPER

LIBRARY ASSISTANT

DIRECTOR

SECRETARY/ASSISTANT BOOKKEEPER

19,178 $ 5,478 1,296 52,998 3,961 18,051 7,210 7,267 5,376 3,058 15,145 11,773 17,949 1,664 15,787 5,639 3,154 20,176 5,051 74,572 6,373 5,057 8,063 52,998 6,293 1,247
943 23,379 14,565 12,513
463 20,254
117 75,000 18,990

16 28 73 170
55
89 97 75 373
21 278 741 3,804
48

TOTALS PER REPORT

$

541038 $====5=8=6==8

See notes to the basic financial statements.

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