Audit report, West Georgia Regional Library, Carrollton, Georgia, year ended June 30, 1997

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AUDIT REPORT WEST GEORGIA REGIONAL LIBRARY
CARROLLTON,GEORGIA YEAR ENDED JUNE 30, 1997

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

WEST GEORGIA REGIONAL LffiRARY - 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

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

4

C

COMBINED STATEMENT.OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

GENERAL AND SPECIAL REVENUE FUNDS

5

D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

7

ADDITIONAL FINANCIAL INFORMATION

COMBINING AND INDIVIDUAL FUND STATEMENTS

SPECIAL REVENUE FUND

E

COMBINING BALANCE SHEET

14

F

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

15

CAPITAL PROJECTS FUND

G

COMBINING BALANCE SHEET

16

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

17

I

FIDUCIARY FUND TYPE

STATEMENT OF CHANGES IN ASSETS AND LIABILITIES

AGENCY FUND

18

SCHEDULES

SCHEDULE OF REVENUE

1

STATE

19

2

FEDERAL

20

3 SCHEDULE OF EXPENDITURES

LOTTERY PROGRAM

21

4 SCHEDULE OF SALARIES AND TRAVEL

22

WEST GEORGIA REGIONAL LIBRARY - TABLE OF CONTENTS -
SECTION II FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS

SECTION I FINANCIAL

CLAUDE L. VICKERS
STATE AUDITOR
(404) 6562174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400
May 15,1998

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education
and Director and Members of the West Georgia 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 West Georgia Regional Library, as of and for the year ended June 30, 1997, as listed in the table of contents. These general-purpose financial statements are the responsibility of the West Georgia 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 fmancial 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 of this variance or omission have not been determined, but are believed to be material.

97ARL-42

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 West Georgia Regional Library as of June 30, 1997, 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 West Georgia Regional Library taken as a whole. The accompanying combining and individual fund statements (Exhibits E through I) and the financial schedules (Schedules 1 through 4), as listed in the table of contents, are presented for purposes ofadditional analysis and are not a required part ofthe 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 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,
L~
Claude L. Vickers State Auditor
CLV:gp 97ARL-42

WEST GEORGIA REGIONAL LffiRARY

WEST GEORGIA REGIONAL LIBRARY COMBINED BALANCE SHEET ALL FUND TYPES JUNE 30,1997

ASSETS Cash and Cash Equivalents Accounts Receivable
Total Assets
LIABILITIES AND FUND EQUITY LIABILITIES
Cash Overdraft Contracts Payable Retainages Payable Funds Held for Others
Total Liabilities FUND EQUITY
Fund Balances Reserved For Continuation of Federal Program For State Capital Outlay Projects Unreserved Undesignated Total Fund Equity
Total Liabilities and Fund Equity

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

$

149,046.49 $

233.32 $

161,292.60

11,734.21

$

160,780.70 $

233.32 $ ======16=1=,2=9=2=.6=0=

$

558.60

28,265.00

$-_-=2.8:,82=3=.6~0

$

$

160,780.70

$

160,780.70 $

$

160,780.70 $

233.32 $

128,044.43

0.00

4,424.57

233.32 $ _ _.1..3:.2=:,.4l6..9.:..0.:0:=~

233.32 $ ======1=6=1=,=2=9=2=.6=0=

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

EXHIBIT "A"

FIDUCIARY FUND TYPE AGENCY FUND

TOTALS

(Memorandum Only)

JUNE 30, 1997

JUNE 30, 1996

$

1,667.18 $

312,239.59 $

206,527.28

11,734.21

40,431.76

$

1,667.18 $

323,973.80 $ ===2=46=,9~59~.0~4

$

1,938.31

$

558.60

28,265.00

$

1,667.18

1,667.18

1,359.17

$

1,667.18 $

30,490.78 $

3,297.48

$

233.32

128,044.43 $

14,495.79

165,205.27

229,165.77

$

293,483.02 $ _--=2'4-3',6-6=1.~56~

$

1,667.18 $

323,973.80 $ =====2=4~6=,=9=5=9=.0=4=

-3-

WEST GEORGIA REGIONAL LIBRARY COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30,1997

EXHIBIT"B"

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

WEST GEORGIA REGIONAL LIBRARY COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL GENERAL AND SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30,1997

EXHIBIT "C"

REVENUES
State Funds Federal Funds Other Funds
Total Revenues
EXPENDITURES
Current Program Services Technical Services Circulation Administration Maintenance and Operations
Total Expenditures
Excess of Revenues over (under) Expenditures
FUND BALANCE JULY 1,1996
Adjustments

GENERAL FUND

BUDGET

ACTUAL

$ 796,664,88 $ 804,552.25

535,315.98

542,732.94

$ 1,331,980.86 $ 1,347,285,19

$ 570,167,79 $ 538,827.93

278,823,38

283,590,84

80,673,82

79,317.08

422,439.77

432,405,35

71,299.14

61,062,61

$ 1,423,403,90 $ 1,395,203,81

$

-91,423.04 $

-47,918.62

175,643,75

208,699.32

-65.00

FUND BALANCE JUNE 30, 1997

$

84,155,71 $ 160,780,70

SPECIAL REVENUE FUND

BUDGET

ACTUAL

$

16,250,00 $

16,250,00

58,061,69

58,061,69

$

74,311.69 $

74,311.69

$

30,371.82 $

74,078,37

43,939.87

$

74,311.69 $

$

0.00 $

14,311.69

-16,250,00

74,078,37 233,32 0.00

$========== $

-1,938,31

233,32

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

THIS PAGE LEFT BLAHK

WEST GEORGIA REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1997

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
REPORTING ENTITY
The West 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. With the exception of the departure from generally accepted accounting principles disclosed in these notes, the financial statements of the Library have been prepared in conformity with generally accepted accounting principles as applied to governmental units 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 twelve members; three members appointed by Carroll County Library Board, three members appointed by Douglas County Library Board, two members appointed by Haralson County Library Board, two members appointed by Heard County Library Board and two members appointed by Paulding County Library Board. The Library Board is without authority to determine the amount of its funding, except by submission ofbudget requests to local governmental units from which the Library receives support and to the State 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 funds for continued operations and is the lowest level of oversight responsibility for the Library's operations. The West Georgia Regional Library is therefore determined to be a joint venture.
FUND ACCOUNTING
The Library uses funds to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities.
A fund is a separate accounting entity with a self-balancing set of accounts.
General Fixed Assets, which includes the Library's inexhaustible collections and books, are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Library. To conform to generally accepted accounting principles, a General Fixed 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, Federal 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 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:
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WEST GEORGIA REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1997

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 ofspecific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. The primary type of special revenue fund consists of proceeds received from State and Federal sources to accomplish specific objectives and are required to be accounted for separately.
CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities.
FIDUCIARY FUND TYPE - the agency fund used to account for assets held by a government unit as an agent for individuals, private organizations, other government units and/or other funds. This fund includes:
AGENCY FUND - the fund used to account for assets held for individuals.
BASIS OF ACCOUNTING
The accounting and fmancial 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 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.
Agency funds are purely custodial in nature and do not involve measurement of results of operations.
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 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.

-8-

WEST GEORGIA REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1997

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Agency funds are accounted for using the modified accrual basis of accounting in recognizing assets and liabilities.
BUDGET
The West Georgia Regional Library's budget is a complete financial plan for the Library's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Library at the aggregate level. The budget for governmental funds was prepared in accordance with generally accepted accounting principles.
The budget process begins when the Library's administration prepares a tentative aggregated budget for the Board's approval. After approval of this tentative budget by the Board, copies are sent to all local funding agencies. After funding approval is received from all local funding agencies, the Board makes revisions as necessary and adopts the budget. The budget is then submitted to the Department of Technical and Adult Education 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 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.
INTERFUND TRANSACTIONS
The Library has the following type of interfund transactions:
Reimbursements of expenditures initially made from a fund that are properly applicable to another fund are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed.
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WEST GEORGIA REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1997

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
MEMORANDUM ONLY - TOTAL COLUMNS
Total columns on the general purpose fmancial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate fmancial 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.
Note 2: DEPOSITS
COLLATERALIZAnON OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value ofsecurities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction of the amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts.
Acceptable security for deposits consists of anyone of or any combination of the following:
(1) Surety bond signed by a surety company dilly 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 ofthe 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

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WEST GEORGIA REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1997

Note 2: DEPOSITS

(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.

CATEGORIZAnON OF DEPOSITS At June 30, 1997, the bank balances were $452,272.16. 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 fmancial 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, 1997, as follows:

Risk Category

Bank Balance

1

$ 206,091.75

2

141,403.67

3

104,776.74

Total

$ 452.272.16

Note 3: 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 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.

- 11 -

WEST GEORGIA REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1997

Note 3: RISK MANAGEMENT

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

All Employees

$ 50,000.00

Note 4: CONTINGENT LIABILITIES

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

Note 5: 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% 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 11.81% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows:

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WEST GEORGIA REGIONAL LIBRARY

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1997

Note 5: RETIREMENT PLANS
Fiscal Year 1997 1996 1995

Percentage Contributed
100% 100% 100%

Required Contribution
$ 70,291.42 $ 66,615.93 $ 61,630.13

- 13 -

WEST GEORGIA REGIONAL LIBRARY COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30.1997

EXHIBIT"E"

ASSETS Cash and Cash Equivalents Accounts Receivable
Total Assets

LOTTERY PROGRAM

FEDERAL PROGRAM

TOTALS JUNE 30,1997 JUNE 30,1996

$

0.00 $

233.32 $

233.32

- - - - - $ - - - -1-,9'3-8.-31-

$

0.00 $

233.32 $

1,938.31

LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft
FUND EQUITY
Fund Balances Reserved For Continuation of Federal Program Unreserved Undesignated
Total Fund Equity

$

$----'0-.0~0

$

0.00 $

233.32 $ 0.00
233.32 $

Total Liabilities and Fund Equity

$

0.00 $

233.32 $

1,938.31

233.32 0.00 $
233.32 $

--0'.0-0~ --0'.0-0~

233.32 $ _ _.1.;,9.:3,8,;.3,~1-=

See notes to the general purpose financial statements.

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WEST GEORGIA REGIONAL LIBRARY

EXHIBIT "F"

COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES

SPECIAL REVENUE FUND

YEAR ENDED JUNE 30.1997

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

LOTIERY PROGRAM

FEDERAL PROGRAM

TOTALS YEAR ENDED JUNE 30, 1997 JUNE 30, 1996

$

16,250.00

$

$

16,250.00 $

$ 58,061.69
58,061.69 $

16,250.00 $ 58,061.69
74,311.69 $

10,000.00 11,056.68
21,056.68

$

16,250.00 $

$

16,250.00 $

$

0.00 $

0.00

57,828.37 $
57,828.37 $ 233.32 $ 0.00

74,078.37 $
74,078.37 $ 233.32 $ 0.00

10,878.18 10,178.50
21,056.68
0.00 0.00

FUND BALANCE JUNE 30

$

0.00 $

233.32 $

233.32 $=======0.=00=

See notes to the general purpose financial statements.

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WEST GEORGIA REGIONAL LIBRARY COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30.1997

EXHIBIT"G"

ASSETS Cash and Cash Equivalents

REGULAR

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION

TOTALS

JUNE 30,1997

JUNE 30,1996

$

4,424.57 $

156,868.03 $

161,292.60 $-=====3=4=,9=6=2=.2=4=

LIABILITIES AND FUND EQUITY

LIABILITIES

Contracts Payable Retainages Payable

Total Liabilities

FUND EQUITY

Fund Balances

Reserved

For State Capital Outlay Projects

Unreserved

Undesignated

$

Total Fund Equity

$

$

558.60 $

558.60

28,265.00

28,265.00

$

28,823.60 $

28,823.60

$
4,424.57
4,424.57 $

128,044.43 $
0.00
128,044.43 $

128,044.43 $
4,424.57
132,469.00 $

14,495.79 20,466.45 34,962.24

Total Liabilities and Fund Equity

$

4,424.57 $

156,868.03 $

161,292.60 $=====3=4,=96=2=.2=4=

See notes to the general purpose financial statements.

-16-

WEST GEORGIA REGIONAL LIBRARY COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 1997

EXHIBIT"H"

REVENUES
State Funds Other Funds
Total Revenues
EXPENDITURES
Capital Outlay Building and Building Improvements Equipment
Total Expenditures
Excess of Revenues over (under) Expenditures
FUND BALANCE JULY 1

REGULAR

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION

TOTALS

YEAR ENDED

JUNE 30, 1997

JUNE 30,1996

$

0.00 $

596,077.00 $

596,077.00 $

52,307,00

110,323,78

110,323.78

56,473.01

$

0.00 $

706,400.78 $

706,400.78 $

108,780.01

$

0.00 $

$

0,00 $

$

0,00 $

4,424.57

598,036.67 $ 10,857,35
608,894.02 $ 97,506,76 $
30,537.67

598,036.67 $ 10,857,35
608,894.02 $
97,506.76 $
34,962.24

114,505,34 124,620.75 239,126.09
-130,346.08
165,308,32

FUND BALANCE JUNE 30

$

4,424.57 $

128,044.43 $

132,469.00 $

34,962.24

See notes to the general purpose financial statements.

- 17-

STAFF ACCOUNT ASSETS
Cash and Cash Equivalents
LIABILITIES Funds Held for Others

WESTGEORGIA REGIONAL LIBRARY STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FIDUCIARY FUND TYPE - AGENCY FUND YEAR ENDED JUNE 30.1997

EXHIBIT "I"

BALANCE JULY 1,1996

ADDITIONS

DEDUCTIONS

BALANCE JUNE 30,1997

$

1,359.17 $

5,592.47 $

5,284.46 $

1,667.18

$

1,359.17 $

5,592.47 $

5,284.46 $ -=====.=1.,616.7.~18~

See notes to the general purpose financial statements.

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WEST GEORGIA REGIONAL LIBRARY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30. 1997

SCHEDULE "1"

AGENCY/FUNDING
GRANTS Technical and Adult Education, Georgia Department of Public Libraries Salaries and Travel Library Materials Maintenance and Operation Lottery Program Assistive Technology
Financing and Investment Commission, Georgia State Reimbursement on Construction Projects

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

TOTAL

$ 498,096.25 159,328.00 147,128.00
$ 16,250.00

$

498,096.25

159,328.00

147,128.00

16,250.00

_ _ _ _ $ 596,077.00

596,077.00

$ 804,552.25 $ 16,250.00 $ 596,077.00 $ 1,416,879.25

See notes to the general purpose financial statements.

-19-

WEST GEORGIA REGIONAL LIBRARY SCHEDULE OF FEDERAL REVENUE
YEAR ENDED JUNE 3D. 1997
AGENCY/FUNDING GRANT Education, U. S. Department of Through Georgia Department of Technical and Adult Education Library Services and Construction Act Title I - Public Library Services

SCHEDULE "2"
GOVERNMENTAL FUND TYPE SPECIAL REVENUE FUND
58,061.69

See notes to the general purpose financial statements.

- 20-

EXPENDITURES
Program Services Equipment

WEST GEORGIA REGIONAL LIBRARY SCHEDULE OF EXPENDITURES LOTTERY PROGRAM YEAR ENDED JUNE 30, 1997

SCHEDULE "3"
ASSISTIVE TECHNOLOGY
16,250.00

See notes to the general purpose financial statements, - 21 -

WEST GEORGIA REGIONAL LIBRARY SCHEDULE OF SALARIES AND TRAVEL
YEAR ENDED JUNE 30,1997

SCHEDULE "4"

PERSONNEL

Ayers, Bailey, Bright, Brown, Cammons, Cook, Cooper, Delaney, Dunmire, Eubanks, Garrett, Gilliom, Hamilton, Harrison, Harvey, Jiles, Johnson, McGarity, Morehead, Pearson, Pruitt-Green, Reed, Reinecker, Scoggins, Stamps, Stephens, Terry, Todd, Ward, Willis,

Mary Sue Debbie L. Faye L. Carol S, AnnG. Kevin L. James P. Cynthia D.
Cary A. Laurie A.
Jennifer JoyT. Heather M. Alicia Jacine Michael D. Robin E. Deborah J. Tracy Sharon Edith G. Helen E. Pamela A. Jack P. Nancy C. Sandra Kay Jean L. Larry D. Mack A. Janice G. Kanea S. Roni L.

POSITION
.-

Processing Clerk

$

Library Clerk

Assistant at Heard County Branch

Acquisitions Librarian

Processing Supervisor

Bookmobile Clerk

Director

Acquisitions Assistant

Network Librarian

Extension Services Librarian

Library Assistant

Library Clerk

Library Assistant

Bookmobile Clerk

Library Clerk

Library Clerk

Library Clerk

Library Clerk

Children's Librarian

Reference Librarian

Automation Librarian

Courier Driver

Catalog Librarian

Douglas County Branch Coordinator

Bookmobile Clerk

Library Clerk

Custodian

Heard County Branch Manager

Office Manager

Assistant Director

SALARIES
16,535.40 13,518,00
3,215,00
38,620,80 $
19,585.80 4,605.45
53,065.00 20,778,60 28,065.64 31,721.20 11,591.69
4,314.76 13,191.32 19,169.40
1,526.41 3,608.00 4,518.26
550.00 39,116.20 44,982.00 43,672.00
9,815.00 44,982.00 44,982,00 13,518.00
682.50 7,494.56 12,696,24 23,502.96 46,272.00

TRAVEL
39,75
2,606.51 17.00
344.50 1,252.11
81.75
381.85 242.25 117.25 1,351.13
27.10
123.75 253,50 408.50

$============ $

619,896.19

7,246.95

See notes to the general purpose financial statements.

- 22-

SECTIONll FINDINGS AND QUESTIONED COSTS

WEST GEORGIA REGIONAL LIBRARY SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED JUNE 30, 1997
PRIOR YEAR CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number 6222-93-02
The audit report for the year ended June 30,1996, noted that the management of West Georgia 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 not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Library being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Library to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory of land, buildings, equipment and inexhaustible collections and books owned by the Library and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group.