Audit report, Uncle Remus Regional Library, Madison, Georgia, year ended June 30, 1999

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AUDIT REPORT

UNCLE REMUS REGIONAL LIBRARY

MADISON, GEORGIA

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YEAR ENDED JUNE 30, 1999

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STATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS
254 WASHINGTON STREET
ATLANTA, GEORGIA 30334-8400

UNCLE REMUS 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 GROUP

2

B

STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

3

C

STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

GENERAL FUND

5

D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

7

ADDmONAL FINANCIAL INFORMATION

SCHEDULES

SCHEDULE OF REVENUE

1

STATE

14

2

LOCAL

15

3 SCHEDULE OF SALARIES AND TRAVEL

16

SECTIONll 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., Suite 214 Atlanta. Georgia 30334-X400
June 19,2000

Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the Board of Regents of the University System of Georgia
and Director and Members of the Uncle Remus 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 Uncle Remus Regional Library, as of and for the year ended June 30, 1999, as listed in the table of contents. These general purpose financial statements are the responsibility of the Uncle Remus 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 generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free 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.
As described in the notes to the general purpose financial statements, the Library's financial statements have been prepared using a certain accounting practice and policy which, in our opinion, varies in some respects from generally accepted accounting principles. This variance is described as follows:
* The general purpose financial statements of the Library did not contain a General Fixed Assets
Account Group to account for property, equipment and inexhaustible collections and books owned by the Library which should be included to conform to generally accepted accounting principles.
The aggregate effects on the general purpose financial statements ofthis variance or omission have not been determined, but are believed to be material.
99ARL-42A

In our opinion, except for the effects on the general purpose financial statements of the matter referred to in the third paragraph, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Uncle Remus Regional Library as of June 30, 1999, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles.
Our audit was performed for the purpose of forming an opinion on the general purpose financial statements of the Uncle Remus Regional Library taken as a whole. The accompanying financial schedules (Schedules 1 through 3), as listed in the table of contents, are presented for purposes of additional analysis and are not a required part of the general purpose financial statements. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and in our opinion such information is fairly presented 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 of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24.
Respectfully submitted,

RWH:gp 99ARL-42A

ssell W. Hinton State Auditor

UNCLE REMUS REGIONAL LffiRARY

UNCLE REMUS REGIONAL LIBRARY COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 1999

EXHIBIT "A"

ASSETS Cash and Cash Equivalents Investments Held by Trustee Accounts Receivable Amount to be Provided in Future Years
For Payment of Capital Lease Agreements

GOVERNMENTAL FUND TYPE
GENERAL FUND

$

.39,206.40

119,873.08

ACCOUNT GROUP
GENERAL LONG-TERM
DEBT

TOTALS (Memorandum Only) JUNE 30,1999 JUNE 30, 1998

$

39,206.40 $

213,490.81

34,387.54

119,873.08

67,421.93

$

7,978.00

7,978.00

2,299.39

Total Assets

$

159,079.48 $

7,978.00 $

167,057.48 $====3=17~,5=9=9.=6=7

LIABILITIES AND FUND EQUITY

LIABILITIES

Accounts Payable

$

Deferred Compensation Plan

Capital Lease Agreements

Total Liabilities

$

FUND EQUITY

Fund Balances Unreserved Undesignated

Total Liabilities and Fund Equity

s

66,367.16 $
66,367.16 $

$ 7,978.00 7,978.00 $

66,367.16 $ 7,978.00 74,345.16 $

194,069.64 34,387.54 2,299.39
230,756.57

92,712.32

0.00

92,712.32

86,843.10

159,079.48 $

============ 7,978.00 $

167,057.48 $

317,599.67

The notes to the general purpose financial statements are an integral part of this statement. -2-

UNCLE REMUS REGIONAL LIBRARY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30,1999

EXHIBIT"B"

FUND BALANCE JUNE 30

$

92,712.32 $

92,712.32 $===-===8=6-,=8;4,;3",.1;,0,;:

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

UNCLE REMUS REGIONAL LIBRARY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL GENERAL FUND
YEAR ENDED JUNE 30, 1999

EXHIBIT"C"

FUND BALANCE JUNE 30

$ -532,426.65 $ 92,712.32

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

UNCLE REMUS REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30,1999

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
REPORTING ENTITY
The Uncle Remus 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. With the exception of the departure from generally accepted accounting principles disclosed in these notes, the financial statements ofthe 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 36 members; 6 members appointed by the Greene County Library Board, 6 members appointed by the Hancock County Library Board, 6 members appointed by the Jasper County Library Board, 6 members appointed by the Morgan County Library Board, 6 members appointed by the Putnam County Library Board and 6 members appointed by the Walton 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. The Uncle Remus Regional Library is therefore determined to be a joint venture.
FUND ACCOUNTING
The Library uses funds and an account group 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.
General Fixed Assets, which includes the Library's inexhaustible collections and books, are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Library. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types.
The general purpose financial statements account for all State, 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 the account group presented in this report are as follows:
-7-

UNCLE REMUS REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30.1999

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
GOVERNMENTAL FUND TYPE - used. to account for all or of the Library's general activities. Governmental Fund Type includes:
GENERAL FUND - the fund used to account for all financial resources ofthe Library. These transactions relate to resources obtained and used for services provided by a Library.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for capital lease obligations not appropriately accounted for and recorded in other fund types.
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 of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other fmancing 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 of accounting under which:
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount ofthe transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities ofthe 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.
BUDGET
The Uncle Remus Regional Library's budget is a complete fmancial 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

-8-

UNCLE REMUS REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 1999

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
prepared by fund, function and object. The legal level ofbudget control was established by the Library at the object 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.
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits in authorized financial institutions. Georgia Laws authorize the Library to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations.
RECEIVABLES
Receivables consist of grant reimbursements due on 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.
CAPITAL LEASES
It is the policy of the Library to record the balance due resulting from capital lease agreements in the General Long-Term Debt Account Group for the amount due at fiscal year end, including interest. This presentation differs from generally accepted accounting principles in that assets acquired through capital lease agreements should be recorded in the General Long-Terrn Debt Account Group at the net present value of the future minimum lease payments. The effect of this deviation is deemed to be immaterial to the fair presentation of the general purpose financial statements.
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 of operations 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.
- 9-

UNCLE REMUS REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 1999

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
an and the market value ofsecurities pledged shall be equal to not less than 110 percent ofthe public funds being
secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11(b) provides 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 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 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, 1999, the bank balances were $72,907.71. The bank balances were entirely covered by Federal depository insurance.

-10 -

UNCLE REMUS REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 1999

Note 3: RISK MANAGEMENT

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

The Library has obtained commercial insurance for risk of loss associated with torts, assets, errors or omissions and job related illness or injuries to employees. However, the error or omissions policy excludes coverage for sexual harassment and discrimination. 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 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

Library Director

$ 50,000.00

Note 4: GENERAL LONG-TERM DEBT

CAPITAL LEASES The Uncle Remus Regional Library has entered into various lease agreements as lessee for an automobile and copiers. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value ofthe future minimum lease payments including interest as of the date of their inception.

The changes in General Long-Term Debt during the fiscal year ended June 30, 1999, were as follows:

- 11 -

UNCLE REMUS REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1999

Note 4: GENERAL LONG-TERM DEBT

Capital Leases

Balance July 1, 1998

$ 2,299.39

Additions Capital Leases

10,256.72

Deductions Debt Retired

4,578.11

Balance June 30, 1999

$ 7,978.00

At June 30, 1999, payments due, by fiscal year which includes principal and interest for these items, are as follows:

Fiscal Year Ended June 30

2000 2001 2002

c

Total Principal

Note 5: RETIREMENT PLANS

Capital Leases
$ 3,432.00 3,286.00 1.260.00
$ 7,978.00

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% oftheir 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 11.95% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows:
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UNCLE REMUS REGIONAL LIBRARY

EXHIBIT liD"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1999

Note 5: RETIREMENT PLANS
Fiscal Year
1999 1998 1997

Percentage Contributed
100% 100% 100%

Required Contri bution
$ 88,177.76 $ 73,603.63 $ 73,754.99

- 13-

UNCLE REMUS REGIONAL LIBRARY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30.1999
AGENCY/FUNDING GRANTS Technical and Adult Education, Georgia Department of Public Libraries Salaries Travel Library Materials Maintenance and Operation

SCHEDULE "1"

GOVERNMENTAL FUND TYPE
GENERAL FUND

$

478,475.31

12,000.00

72,533.00

64,933.00

$

627,941.31

See notes to the general purpose financial statements.

-14 -

UNCLE REMUS REGIONAL LIBRARY SCHEDULE OF LOCAL REVENUE YEAR ENDED JUNE 30,1999
LOCAL SOURCES City Governments Eatonton Greensboro Loganville Monroe Siloam Social Circle Sparta Union Point White Plains Woodville County Boards of Education Greene Hancock Jasper Putnam Walton County Governments Boards of Commissioners Greene Hancock Jasper Morgan Putnam Walton

SCHEDULE "2"

GOVERNMENTAL FUND TYPE GENERAL FUND

$

11,750.00

20,232.00

37,742.20

70,000.00

1,603.00

5,500.00

32,792.00

11,619.00

1,603.00

2,404.00

25,304.00 33,369.00 52,842.00 42,800.00 10,000.00

42,670.00 27,000.00 52,842.00 110,000.00 42,800.00 133,350.00

$

768,222.20

See notes to the general purpose financial statements.

- 15-

UNCLE REMUS REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL
YEAR ENDED JUNE 30, 1999

SCHEDULE "3"

NAME

TITLE CATEGORY

Alexander, Allen, Andrews, Brinson, Brooks, Burston, Cannon, Cooper, Craft, Crawford, Crook, Eidson, Fitch, Gornto, Green, Green, Green, Green, Greer, Gurley, Hallman, Harrison, Hillman, Jarrell, Jessup, Joslyn, Kadhum, King, Lundy, Mason, May, McCafferty, McElhenney, McGlauchlen, Meeks, Mix, Mullins, Paul, Pirkle, Rary, Reese, Richardson, Rigsby, Rigsby, Rogers, Schaefer,

Mary Sue Linda W Rossandra R Martha I Lynn L Edith Ellen C MaryG Joan T Carolyn G Donna S Gladys T Christopher Elaine Steven L Betty E Gracie M Louvine Melissa L Elizabeth G Natalie Cathy R Elizabeth J Mamie L HollyR Dorothy C Mauriel A Ana Juncadella Janet N Annie Ruth Patricia Dennis Charles G Sharon S Pamela D Janis R Karen K Vivian Juanita Timothy A Suzanne B Mary Jean Kathleen W Dorethea B Jackie Denise James H Margaret R Cheryl M Steve William

Branch Manager Branch Associate Branch Associate Approved Substitute Shelver Custodian Tech Services Senior Librarian Technical Services Associate Branch Associate Administrative Assistant Branch Associate Branch Associate Bookkeeper Delivery Services Associate Branch Associate Branch Associate Custodian Branch Associate Branch Manager Approved Substitute Approved Substitute Branch Manager Branch Associate Senior Librarian Branch Associate Approved Substitute Reference Ser Senior Librarian Branch Associate Branch Associate Branch Manager ComputerfTech Ser Senior Lib Branch Associate Approved Substitute Technical Services Associate Branch Manager Branch Associate Custodian Assistant Director Branch Associate Branch Associate Branch Library Clerk Branch Manager Custodian/Delivery Branch Associate Library Development Senior Lib Director

See notes to the general purpose financial statements.

- 16-

SALARIES

TRAVEL

$

12,276.93 $

815.51

9,160.61

4,890.11

1,085.44

1,300.00

8,165.37

13,428.36

441.38

30,209.52

10,753.08

1,516.70

27,008.88

17,199.00

1,429.15

1,587.35

7,190.52

726.10

15,619.39

930.53

46.75

15,780.47

1,549.97

24,233.77

6,931.29

6.44

51,242.00

1,311.01

8,802.36

18,219.49

48,262.00

1,475.60

24.06

11,550.00

18,478.62

12,353.42

3,280.00

54,672.14

2,192.18

12,057.44

518.95

17,581.20

365.00

8,758.21

51,144.10

66,444.10

126.50
1,020.31 783.00
127.35
245.10 198.50 1,127.85 334.00 280.88 144.25 1,225.99 5,874.57

NAME
Scoggins, Shuman, Stephens, Summers, Taylor, Thomas, Upham, Ward, West, Williams, Williamson,

Ellen D Robin L Mary Ruth A Shirley L Tamela M Lois N Gloria Ann PennyW Ann 0 Elizabeth R

Accrual June 30,1999

Totals per Report

UNCLE REMUS REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL
YEAR ENDED JUNE 30,1999

SCHEDULE "3"

TITLE CATEGORY
Approved Substitute AcqrTech Services Associate Custodian Branch Associate Branch Manager Adult/Special Ser Senior Lib Tech Services Senior Librarian Special Services Associate Approved Substitute Branch Associate Approved Substitute

SALARIES

TRAVEL

$

1,068.48

10,073.64

2,250.56

2,786.48

23,788.82 $

49,855.10

63,996.40

17,587.44

3,301.20

8,695.28

3,366.38

482.41 542.50
95.00 80.00

$ 789,784.28 $ 12,688.21

1,061.48

$ 789,784.28 $=====1=3=.7=4=9=.6=9=

See notes to the general purpose financial statements.

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SECTION II FINDINGS AND QUESTIONED COSTS

UNCLE REMUS REGIONAL LIBRARY SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED JUNE 30, 1999
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number: 6752-93-03
The audit report for the year ended June 30, 1998, noted that the management of the Uncle Remus Regional Library had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Library did hot establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Library being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Library to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings, equipment and inexhaustible collections and books owned by the Library and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group.