Audit report, state of Georgia, Office of Treasury and Fiscal Services, year ended June 30, 1999

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AUDIT REPORT STATE OF GEORGIA OFFICE OF TREASURY AND FISCAL SERVICES YEAR ENDED JUNE 30, 1999
STATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS
254 WASHINGTON STREET ATLANTA, GEORGIA 30334-8400

OffiCE OF IREASURY AND FISCAL SERVICES
-TABLE OF CQNTENTS -

~

SECTION I

FINANCIAL

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

EXHIBITS

FINANCIAL STATEMENTS

A COMBINED BALANCE SHEET (STATUTORY BASIS)

ALL FUND TYPES AND ACCOUNT GROUP

2

B COMBINED STATEMENT OF CHANGES IN FUND BALANCES

(STATUTORY BASIS)

GOVERNMENTAL FUND TYPES

4

STATEMENTSOFFUNDSAVAILABLEANDEXPENDITURES

c

BUDGET FUND

5

D

GENERAL FUND

6

E

DEBT SERVICE FUND

7

STATEMENTS OF FUNDS AVAILABLE AND EXPENDITURES

CO~AREDTOBUDGET

BUDGET FUND

F

"A" STATE OF GEORGIA GENERAL OBLIGATION

DEBT SINKING FUND (ISSUED)

8

G

"B" STATE OF GEORGIA GENERAL OBLIGATION

DEBT SINKING FUND (NEW)

9

H

STATE OF GEORGIA GUARANTEED REVENUE

DEBT COMMON RESERVE FUND

10

I NOTES TO THE FINANCIAL STATEMENTS

11

SUPPLEMENTARY INFORMATION

COMBINING AND INDIVIDUAL FUND STATEMENTS

BUDGET FUND

J

COMBINING BALANCE SHEET

32

K

COMBINING STATEMENT OF CHANGES IN FUND BALANCES

33

L

COMBINING STATEMENT OF FUNDS AVAILABLE AND

EXPENDITURES

34

M COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES

FIDUCIARY FUND TYPE- AGENCY FUNDS

35

OFfiCE OF TREASURY AND FISCAL SERVICES-
- IABLE OF CONIENTS -

~

SECTION I

FINANCIAL

SUPPLEMENTARY INFORMATION

SCHEDULES

1 SCHEDULE OF REQUIRED SUPPLEMENTARY INFORMATION

37

SCHEDULESOFAPPROVEDBUDGET

BUDGET FUND

2

"A" STATE OF GEORGIA GENERAL OBLIGATION

DEBT SINKING FUND (ISSUED)

38

3

"B" STATE OF GEORGIA GENERAL OBLIGATION

DEBT SINKING FUND (NEW)

39

4 CASH AND CASH EQUIVALENTS

40

5 INVESTMENTS

41

6 SCHEDULE OF STATE REVENUE COLLECTIONS BY DEPARTMENTS

GENERAL FUND

43

7 ANALYSIS OF APPROPRIATION ALLOTMENTS

GENERAL FUND

44

8 RECONCILIATION OF SURPLUS LAPSED

GENERAL FUND

49

9 SCHEDULE OF BONDS OUTSTANDING

DEBT SERVICE FUND

50

10 SCHEDULE OF PRINCIPAL AND INTEREST EXPENDTIURES ON

GENERAL OBLIGATION BONDS

DEBT SERVICE FUND

60

ANALYSIS OF PAYMENTS TO COUNTIES OF EARNINGS ON

FEDERAL LANDS

FIDUCIARY FUND TYPE- AGENCY FUNDS

11

PAYMENTS TO STATES IN LIEU OF REAL ESTATE TAXES

61

12

SCHOOLS AND ROADS- GRANTS TO STATES

62

13 ANALYSIS OF PAYMENTS TO COUNTIES OF EARNINGS ON MILITARY

INSTALLATIONS

FIDUCIARY FUND TYPE- AGENCY FUNDS

~ERPROCEEDSFUND

63

14 ANALYSIS OF PAYMENTS TO COUNTIES OF SALE OF

FEDERAL LANDS

FIDUCIARY FUND TYPE- AGENCY FUNDS

SALE OF PUBLIC LAND

64

OFFICE OF IREASUR.Y AND FISCAL SERVICES
-TABLE OF CONIENTS -

SECTION II

STATISTICAL SECTION

TEN YEAR IDSTORICAL SUMMARY OF SELECTED FINANCIAL DATA- GENERAL FUND

UNRESERVED SURPLUS BALANCES

1

FUNDS AVAll..ABLE AND EXPENDITURES

2

REVENUE BY CATEGORY

4

APPROPRIATION ALLOTMENTS

8

SECTION I FINANCIAL

RussELL W. HINTON
STATE AUDITOR
(404) 656-2174

DEPARTMENT oF A uniTS AND AccouNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
August 27, 1999

Honorable Roy E. Barnes, Governor Members ofthe General Assembly of Georgia Members of the State Depository Board
and Honorable W. Daniel Ebersole, Director Office ofTreasury and Fiscal Services
INDEPENDENT AUDITOR'S COMBINED REPORT ON FINANCIAL STATEMENTS
AND SUPPLEMENTARY INFORMATION
Ladies and Gentlemen:
We have audited the accompanying financial statements (Exhibits A through I) ofthe Office of Treasury and Fiscal Services as of and for the year ended June 30, 1999. These financial statements are the responsibility ofthe Office's management. Our responsibility is to express an opinion on these 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 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.
As described in Note 1, these financial statements were prepared on a prescribed basis of accounting that demonstrates compliance with the budgetary statutes and regulations of the State of Georgia, which is a comprehensive basis of accounting other than generally accepted accounting principles.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position (statutory basis) ofthe Office of Treasury and Fiscal Services as of June 30, 1999, and the results of its operations (statutory basis) for the year then ended, on the basis of accounting described in Note 1.
The year 2000 supplementary information on Schedule "1" is not a required part of the basic financial statements but is supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries ofmanagement regarding the methods ofmeasurement and presentation of the supplementary information. However, we did not audit
99ARL-1

the information and do not express an opinion on it. In addition, we do not provide assurance that the Office
ofTreaswy and Fiscal Services is or will become year 2000 compliant, that the Office's year 2000 remediation efforts will be successful in whole or in part, or that parties with which the Office of Treaswy and Fiscal Services does business are or will become year 2000 compliant.

Our audit was made for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplementary information (Section I - Exhibits J through M, Schedules 2 through 14, and Section IT - Statistical Section) is presented for purposes of additional analysis and is not a required part of
the financial statements ofthe Office ofTreaswy and Fiscal Services. Such information has been subjected to the auditing procedures applied in the audit of the financial statements and, in our opinion, is fairly presented in all material respects in relation to the financial statements taken as a whole.

RWH:gp 99ARL-1

Respectfully submitted,
~ ..JR,lcl.~ Russell W. Hinton State Auditor

FINANCIAL SIATEMENTS - 1-

OFFICE OF TREASURY AND FISCAL SERVICES COMBINED BALANCE SHEET !STATUTORY BASIS!
ALL FUND TYPES AND ACCOUNT GROUP JUNE 30. 1999

ASSETS
Cash and Cash Equivalents (See Schedule)
Investments (See Schedule)
Accounts Receivable State Appropriation
Amount Available in Debt Service Fund
Amount to be Provided for Retirement of General Long-Term Debt

GOVERNMENTAL FUND TYPES

BUDGET

GENERAL

DEBT SERVICE

$

762,467,360.53 $ 212,076,717 I 19

2,797.744,979.28

$ 212,076,717.19

26,980.00

Total Assets

$ 212,076,717.19 $ 3,560,239,319.81 $ 212,076,717.19

LIABILITIES AND FUND EQUITY
Liabilities Undrawn Appropriation Allotments Undistributed Sales Tax Unclaimed Bonds and Interest Cash Overdraft Funds Held for Others General Obligation Bonds Payable (See Schedule)
Total Liabilities
Fund Equity Fund Balances Reserved Appropriation to Department of Transportation Midyear Adjustment Reserve Revenue Shortfall Reserve For Debt Service For Lottery for Education Restrided Unrestrided For Old State Debt For Guaranteed Revenue Debt Common Reserve Fund
Unreserved Designated For Homeowner Tax Relief Grants Undesignated Surplus
Total Fund Equity

$ $ 194,155,617.19

1,933,870,124. 78 56,741,145.19 178,400.00

$ 194.155.617.19 $ 1.990.789.669.97

$
$ 17.921.100.00 $ 17,921,1 00.00 $

5,870,997.61 126,961,097.96 380,883,293.88
$

212,076,717.19

133,225,786.00 136,672,034.40
26,980.00

783,640,189.85 $ 212,076,717.19

83,000,000.00

0.00

702.809.459.99

0.00

$ 17.921.100.00 $ 1.569.449.649.84 $ 212.076.717.19

Total Liabilities and Fund Equity

$ 212,076,717.19 $ 3,560,239,319.81 $ 212,076,717.19

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

EXHIBIT"A"

FIDUCIARY FUND TYPE
AGENCY

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS

(Memorandum Only)

JUNE 30, 1999

JUNE 30, 1998

$ 1,040,733,010.84

$ 2,015,277,088.56 $ 3,378,278,305.12

3,735,755,005.35

6,533,499,984.63

4,281,356,647.40

$

212,076,717.19

212,103,697.19 212,076,717.19

233,242,000.68 233,215,020.68

4,567,653,282.81

4,567,653,282.81

4,272,559,979.32

$ 4,776,488,016.19 $ 4,779,730,000.00 $ 13,540,610,770.38 $ 12,398,651,953.20

$ 4,776,488,016.19 $
$ 4,776,488,016.19 $

$ 1,933,870,124.78 $ 56,741,145.19 178,400.00 194,155,617.19
4, 776,488,016.19

1,888,901 ,481.86 53,157,604.46 0.00
454,236,837.17 4,042,413,730.91

4,779,730,000.00

4,779,730,000.00

4,505,775,000.00

4,779,730,000.00 $ 11,741,163,303.35 $ 10,944,484,654.40

$

5,870,997.61 $

126,961,097.96

380,883,293.88

212,076,717.19

133,225,786.00 136,672,034.40
26,980.00

17,921,100.00

$ 1,013,638,007.04 $

6,992,003.64 117,181,823.19 351,545,469.58 233,215,020.68
135,862,458.60 47,474,399.67
26,980.00
17,921,100.00
91 0,219,255.36

83,000,000.00 702,809,459.99 $ 1,799,447,467.03 $

0.00 543,948,043.44 1,454,167,298.80

$ 4?7614881016.19 $ 4?79?301000.00 $ 13154016101770.38 $ 12139816511953.20

-3-

OFFICE OF TREASURY ANP FISCAL SERVICES COMBINED STATEMENT OF CHANGES IN FUNP BALANCES !STATUTORY BASIS)
GOVERNMENTAL EUNP T)'PES YEAR ENPEP JUNE 3Q. 1999

EXHIBIT"B"

FUNP BALANCES - JULY 1
Reserved Unreserved
Undesignated Surplus
APPIIIONS
Excess of Funds Available over Expenditures
Exhibit c
Excess of Funds Available and Other Financing Sources over Expenditures and Other Financing Uses Exhibit "E"
Excess of Funds Available over Allotments
Exhibit o
PEDUCTIONS
Unreserved Fund Balance (Surplus) Returned to Office of Treasury and Fiscal Services Year Ended June 30, 1998 Year Ended June 30, 1999
Reserved Fund Balance Carried Over from Prior Year as Funds Available
FUNP BALANCES -JUNE 30
(To Exhibit "A")

BUDGET

GENERAL

DEBT SERVICE

TOTALS

(Memorandum Only)

YEAR ENDED

JUNE 30, 1999

JUNE 30, 1998

s s $ 17,921,100.00 $ 659,083,134.68 233,215,020.68 $ 910,219,255.36

899,649,964.16

543,948,043.44

543,948,043.44

524,974,958.28

$ 17,921.100.00 $ 1,203,031,178.12 $ 233,215,020.68 $ 1,454,167,298.80 $ 1,424,624,922.44

$ 18,925,814.22

$

s 18,925,814.22

20,048,294.42

s 212,076,717.19

212,076,717.19

233,215,020.68

- - - - - s 1,025,501,606.40

1,025,501,606.40

$ 18,925,814.22 $ 1.025,501,606.40 $ 212,076,717.19 $ 1,256,504,137.81 s

678,056,219.84 931.319,534.94

s

0.00

1,004,714.22

s

0.00 $

2, 127,194.42

1,004,714.22

0.00

17,921,100.00 s $ 18,925,814.22 s

s 659,083,134.68 233,215,020.68
659,083,134.68 s 233,215,020.68 $

910,219,255.36 911,223,969.58 s

899,649,964.16 eo1.m,1sa.sa

s s s $ 1719211100.00 1156914491649.84 2121076?17.19

1?9914471467.03 s 1145411671298.80

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

OFFICE OF TREASURY AND FISCAL SERVICES STATEMENT OF FUNDS AVAILABLE AND EXPENDITURES
BUDGET FUND YEAR ENDED JUNE 30. 1999

EXHIBIT"C"

FUNDS AVAILABLE REVENUES
STATE APPROPRIATION General Appropriation Amended Appropriation Total State Appropriation
OTHER REVENUES RETAINED Interest Earned Total Revenues
CARRY-OVER FROM PRIOR YEAR Transfer from Reserved Fund Balance For Guaranteed Revenue Debt Common Reserve Fund
Total Funds Available
EXPENDITURES GENERAL OBLIGATION DEBT SINKING FUND
Transfer to Debt Service Fund Excess of Funds Available over Expenditures

TOTALS

YEAR ENDED

JUNE 30, 1999

JUNE 30, 1996

$ 412,050,710.00 $ 393,727,614.00
150,565,979.00 202,397,414.00
$ 562,616,669.00 $ 596,125,028.00

1,004,714.22

1,016,349.42

$ 563,621,403.22 $ 597,143,377.42

17,9211100,00

19,029,945.00

$ 561,542,503.22 $ 616,173,322.42

$ 562,616,669.00 $ 596,125,026.00

16,925,814.22

20,048,294.42

$ 561,542,503.22 $ 616,173,322.42

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

OFFICE OF TREASURY AND FISCAL SERVICES STATEMENT OF FUNDS AVAILABLE AND EXPENDITURES
GENERAL FUND YEAR ENDED JUNE 30. 1999

EXHIBITD

FUNDS AVAILABLE
REVENUES
State Revenue Collections - Net (See Schedule) Federal Revenue
Energy, U. S. Department of Federal Energy Regulatory Commission Payments in Lieu of Taxes Power Sales
Treasury, U. S. Department of Reimbursements for Cash Management Improvement Act
Other Revenues Retained Department of Medical Assistance Indigent Care Trust Fund Georgia Lottery Corporation Lottery Proceeds Interest Earned
Total Revenues
CARRY-OVER FROM PRIOR YEAR
Transfer from Reserved Fund Balances Appropriation to Department of Transportation Georgia Fund 1 - Cost of Administration Lottery for Education Midyear Adjustment Reserve Old State Debt Revenue Shortfall Reserve
Total Carry-Over from Prior Year
Total Funds Available
EXPENDITURES
ALLOTMENTS
Legislative Appropriation to Spending Units For Fiscal Year Ended June 30 Less: Current Year Funds Lapsed
Net Appropriation - Fiscal Year Ended June 30
Less: Unreserved Fund Balance (Surplus) Lapsed
Net Allotments to Spending Units
Excess of Funds Available over Allotments
The notes to the financial statements are an integral part of this statement -6-

TOTALS

YEAR ENDED

JUNE 30, 1999

JUNE 30, 1998

$ 12,696,109,796.09 $ 11,718,182,319.49

39,021.10 482.00

38,105.96 311.00

181,164,882.00

194,125,743.00

646,705,000.00 15.936.824.92

555,072,000.00 11.222.881 .54

$ 13.539.956.006.11 $ 12.478.641.360.99

$

6,992,003.64 $

24,674,865.65

0.00

110,774.12

183,336,858.27

201,911,313.91

117,181,823.19

111,313,935.49

26,980.00

26,980.00

351.545.469.58

333.941.806.48

$

659.083.134.68 $ 671.979.675.65

$ 14,199,039,140.79 $ 13,150,621,036.64

$ 13,266,183,512.00 $ 12,578.465,162.00

5.680.704.00

4.944.439.35

$ 13,260,502,808.00 $ 12,573,520,722.65

86.965.273.61

1001955.905.85

$ 13,173,537,534.39 $ 12,472,564,816.80

1.025.501.606.40

678.056.219.84

$ 14.199.039.140.79 $ 13.150.621.036.64

OFFICE OF TREASURY AND FISCAL SERVICES STATEMENT OF FUNDS AVAILABLE AND EXPENDITURES
DEBT SERVICE FUND YEAR ENDED JUNE 30. 1999

EXHIBIT"E"

FUNDS AVAILABLE
REVENUES
None Recorded
CARRY-OVER FROM PRIOR YEAR
Transfer from Reserved Fund Balance For Debt Service
Total Funds Available
EXPENDITURES
DEBT SERVICE
Principal Retired on Bonds Discount on Bonds Retired in Advance Interest Cost on Bonds Accrued Interest on Bonds Retired in Advance of Due Date Refund Bond Issuance Cost
Total Expenditures
Excess of Expenditures over Funds Available
OTHER FINANCING SOURCES <USES)
Proceeds of Refunding Bonds - Par Value Premium on Bonds Sold Payment to Bond Escrow Agent Operating Transfers In
Budget Fund Georgia State Financing and Investment Commission
Total Other Financing Sources (Uses)
Excess of Funds Available and Other Financing Sources over Expenditures and Other Financing Uses

TOTALS

YEAR ENDED

JUNE 30, 1999

JUNE 30, 1998

$

0.00 $

0.00

233,215,020.68

208,640,343.51

$ 233,215,020.68 $ 208,640,343.51

$ 448,960,000.00 $ 387,030,000.00

-44,223,170.90

-18,339,835.75

276,624,992.49

277! 105,350.83

499,605.48

542,713.74

621,651.97

0.00

$ 682,483,079.04 $ 646,338,228.82

$ -449,268,058.36 $ -437,697,885.31

$ 142,425,000.00 $
7,597' 153.45 -149,400,501.48

0.00 0.00 0.00

562,616,689.00 98,106,434.58

596,125,028.00 74,787,877.99

$ 66113441775.55 $ 67019121905.99

$ 212,076,717.19 $ 233,215,020.68

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

OFFICE OF TREASURY AND FISCAL SERVICES STATEMENT OF FUNDS AVAILABLE AND EXPENDITURES
COMPARED TO BUDGET BUDGET FUND
"A" STATE OF GEORGIA GENERAL OBLIGATION DEBT SINKING FUND (ISSUED) YEAR ENDED JUNE 30. 1999

EXHIBIT"F"

FUNDS AVAILABLE REVENUES
State Appropriation

BUDGET

ACTUAL

VARIANCEFAVORABLE (UNFAVORABLE)

$ 488,874,183.00 $ 488,874,183.00 $ _ _ _ _---=.,0';,;;;,00~

EXPENDITURES General Obligation Debt Sinking Fund

$ 488,874,183.00 $ 488,874,183.00 $ _ _ _ ___:,;0';,;;;,00~

Excess of Funds Available over Expenditures

$

0.00 $ =-======~0;,;;;.0,;.,0

The notes to the financial statements are an integral part of this statement. -8-

OFFICE OF TREASURY AND FISCAL SERVICES STATEMENT OF FUNDS AVAILABLE AND EXPENDITURES
COMPARED TO BUDGET BUDGET FUND
"B" STATE OF GEORGIA GENERAL OBLIGATION DEBT SINKING FUND CNEWl YEAR ENDED JUNE 30. 1999

EXHIBIT"G"

FUNDS AVAILABLE REVENUES
State Appropriation
EXPENDITURES General Obligation Debt Sinking Fund
Excess of Funds Available over Expenditures

BUDGET

ACTUAL

VARIANCEFAVORABLE (UNFAVORABLE)

$ 73,742,506.00 $ 73,742,506.00 $ _ _ _ _ _0_.0_0

$ 73,742,506.00 $ 73,742,506.00 s_ _ _ _ _o_.o_--o

$

0.00 $ =-=============0=.0=0

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

OFFICE OF TREASURY AND FISCAL SERVICES STATEMENT OF FUNDS AVAILABLE AND EXPENDITURES
COMPARED TO BUDGET BUDGET FUND
STATE OF GEORGIA GUARANTEED REVENUE DEBT COMMON RESERVE FUND YEAR ENDED JUNE 30. 1999

EXHIBIT"H"

FUNDS AVAILABLE REVENUES
Other Revenues Retained CARRY-OVER FROM PRIOR YEAR
Transfer from Reserved Fund Balance

BUDGET

ACTUAL

VARIANCEFAVORABLE (UNFAVORABLE)

$

0.00 $ 1,004,714.22 $

1,004,714.22

0.00

1719211100.00

1719211100.00

s_ _ _ _o...o~o-. $ 18,925,814.22 $ 18,925,814.22

EXPENDITURES

Guaranteed Revenue Debt Common Reserve Fund

$

Excess of Funds Available over Expenditures

0.00 $

0.00 $ _ _ _ _....;0::.:..0:.:0;,

$ 18,925,814.22 $ 18,925,814.22

The notes to the financial statements are an integral part of this statement. -10-

OFFICE OF IREASQRY AND FISCAL SERVICES NOIES TO THE FINANCIAL STATEMENTS JUNE 30. 1999

EXHIBIT "I"

NOIE 1: SUMMARY OF SIGNIFICANT ACCQUNTING POLICIES
REPORTING ENTITY The Office of Treasury and Fiscal Services, an organizational unit of the State of Georgia, was created pursuant to Chapter 50-SA of the Official Code of Georgia Annotated. The Office of Treasury and Fiscal Services is part ofthe executive branch of government and is attached to the Department of Administrative Services for administrative pwposes only (See Note 6). The Office of Treasury and Fiscal Services is under the control and management ofa Director, who is appointed by the State Depository Board in conformity with statutory provisions. The Office ofTreasury and Fiscal Services operates the State Treasury, carries out the general policies of the State Depository Board, oversees the investment of State funds, manages the State's cash reserves, and ensures that debt service payments are made for principal and interest due on the State's general obligation debt.
The Office of Treasury and Fiscal Services receives appropriations of State funds for the purpose of debt service but has no authority to determine the amount of funding it will receive from the State of Georgia for any given fiscal year. Such authority is vested in the General Assembly of Georgia. The Office also does not have authority to retain unexpended State appropriations (swplus) for any given fiscal year. Accordingly, the Office of Treasury and Fiscal Services is included within the State of Georgia reporting entity for financial reporting purposes because of the significance of its legal, operational and financial relationships with the State of Georgia. These reporting entity relationships are defined in Section 2100 of the Governmental Accounting Standards Board Codification of Governmental Accounting and Financial &(porting Standards.
LEGISLATIVE AUTHORITY In November, 1972, the voters of the State of Georgia approved a comprehensive amendment to the Constitution of 1945 ("Amendment") which permits the State of Georgia to finance its capital needs through the issuance of general obligation debt. Prior to the adoption of the Amendment, the capital outlay needs of the State of Georgia were met through the issuance of bonds by ten (10) separate authorities and secured by lease rental agreements between the authorities and various organizational units ofthe State of Georgia. The provisions ofthe Amendment were implemented in 1973 with the enactment of the Georgia State Financing and Investment Commission Act. The constitutionality of the new system of financing was favorably adjudicated by the Supreme Court of Georgia in a decision rendered on July 16, 1974, in Sears vs. State of Georgia. In November, 1982, the voters of the State of Georgia ratified a new State Constitution which became effective July 1, 1983. The Constitution of 1983 continues the Amendment in full force and effect.
The State ofGeorgia Guaranteed Revenue Debt Common Reserve Fund was statutorily established to ensure retirement of principal and payment of interest expense for Revenue Bonds issued by certain Authorities created by the State of Georgia in the event an individual Authority may experience cash flow problems in any given fiscal year. Appropriations for the State of Georgia Guaranteed Revenue Debt Common Reserve Fund are provided by the Official Code of Georgia Annotated, Title 50, Chapter 17, Section 23, which states in part: "All such appropriations for the benefit of guaranteed revenue debt shall not lapse for any reason and shall continue in effect until the debt for which the appropriation was authorized shall have been incurred; but the General Assembly may repeal any such appropriation at any time prior to the payment ofthe same into the common reserve fund".
- 11-

OFFICE OF TREASURY AND FISCAL SERVICES
NOTES TO THE FINANCIAL STATEMENTS ruNE 30. 1999

EXHIBIT "I"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNIJNG POLICIES
FUND ACCOUNTING The Office ofTreasury and Fiscal Services uses funds and an account group to report on its financial position and the results ofits operations determined in conformity with accounting practices prescribed or permitted by statutes and regulations ofthe State ofGeorgia. A fund is an independent fiscal and aecounting entity with a self-balancing set of accounts. Fund accounting segregates funds according to their intended purpose and is used to aid management in demonstrating compliance with finance-related legal and contractual provisions. The minimum number of funds are maintained consistent with legal and managerial requirements. Account groups are a reporting device used to account for certain assets and liabilities of the governmental funds not recorded directly in those funds. Funds and the account group presented in the accompanying financial statements are as follows:
GOVERNMENTAL FUND TYPES
BUDGET FUND - The fund used to account for activities and functions as set forth in the Amended Appropriations Act of 1998-1999. This presentation differs from generally accepted accounting principles in that such activity should be included in the Debt Service Fund of the governmental organization.
GENERAL FUND - The fund used to account for taxes, fees, assessments and other revenues collected under constitutional and statutory authority by various organizational units of the State of Georgia and remitted to the Office of Treasury and Fiscal Services. Additionally, this fund is used to account for the appropriation of funds to organizational units of the State of Georgia.
DEBT SERVICE FUND - The fund used to account for the accumulation of resources for, and the payment of, general long-term debt principal, interest and related costs for general obligation bonds issued by the State of Georgia.
FIDUCIARY FUND TYPE
AGENCY FUNDS - The funds used to account for assets held for use by other funds, governments, or individuals.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT - The account group used to account for the unretired principal balance of general obligation bond issues created pursuant to Georgia Laws.
BASIS OF ACCOUNTING MEASUREMENT FOCUS
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. Governmental funds should be accounted for using the flow ofcurrent financial resources measurement focus. With this measurement focus, operating statements present increases and decreases in net current assets and
- 12-

OFEICE OF IREASURY AND FISCAL SERVICES
NOTES TO THE FINANCIAL STAIEMENTS
JUNE 30. 1999

EXHIBIT "I"

NOIE 1: SUMMARY OF SIGNIFICANI ACCOUNTING POLICIES
BASIS OF ACCOUNTING MEASUREMENT FOCUS
unreserved fund balance is a measure of available spendable resources. In accordance with accounting practices prescribed or permitted by statutes and regulations of the State of Georgia, the unreserved fund balance (surplus) ofthe Budget Fund is remitted to the Office ofTreasury and Fiscal Services' General Fund.
GOVERNMENTAL FUND TYPES Except as disclosed in the following paragraphs, units of government of the State of Georgia record their governmental fund type revenues and expenditures in accordance with the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they are "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 pay liabilities of the current period. Revenues that are accrued include primarily State appropriations. Expenditures are recorded when the related fund liability is incurred, except for accrued interest on general long-term debt which is recognized when due.
State Revenue Collections from collecting units are recorded as revenue when received in the General Fund. This presentation is in accordance with accounting practices prescribed or permitted by statutes and regulations of the State of Georgia, but differs from generally accepted accounting principles in that remittances from collecting units should be recorded on the modified accrual basis of accounting.
Operating transfers out are reflected as an expenditure in the Budget Fund. This accounting treatment is in accordance with the accounting practices prescribed or permitted by statutes and regulations ofthe State of Georgia, but differs from generally accepted accounting principles in that operating transfers out should be recorded as an other financing use.
Prior period adjustments and certain other items are reported as additions to and deductions from fund balances of the governmental fund types in the accompanying financial statements. This presentation is in accordance with accounting practices prescribed or permitted by statutes and regulations of the State of Georgia, but differs from generally accepted accounting principles in that immaterial adjustments should be reported as current period revenues and expenditures.
FIDUCIARY FUND TYPE AGENCY FUNDS
Agency Funds are custodial in nature and do not measure results ofoperations or have a measurement focus. The modified accrual basis of accounting is utilized for recognizing assets and liabilities.
Georgia Fund 1 is an external investment pool. A separate report for the external investment pool is not issued. The presentation ofGeorgia Fund 1 as an Agency Fund is not in accordance with generally accepted accounting principles which requires that an external investment pool be accounted for as an investment trust fund using the economic resources measurement focus and the accrual basis of accounting. In addition, generally accepted accounting principles require the disclosure of condensed statements of net assets and
- 13-

OFEICE OF IREASllRY AND FISCAL SERVICES NOIES TO THE FINANCIAL STATEMENTS
JUNE 30. 1999

EXHIBIT "I"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POUCIES
BASIS OF ACCOUNTING FIDUCIARY FUND TYPE AGENCY FUNDS
changes in net assets for the external investment pool. In accordance with accounting practices prescribed or permitted by statutes and regulations ofthe State ofGeorgia, the Georgia Fund 1 is included in the financial statements as an agency fund, and therefore the required disclosures have been omitted.
BUDGETS BUDGET FUND
Appropriation allotments to the Office ofTreasury and Fiscal Services are on the basis ofbudgets submitted by the Office and approved by the Legislature and the Governor. The budgets are adopted on a basis consistent with accounting practices prescribed or permitted by statutes and regulations of the State of Georgia and are compiled in the same manner as all State departments. Expenditures are classified by budget unit object classes as provided in .Act No. 969 of Georgia Laws 1998 (as approved April20, 1998), and amended by Act No.2 of Georgia Laws 1999 (as approved February 4, 1999) and by Act No. 146 of Georgia Laws 1999 (as approved Apri112, 1999). This budget is considered to be an appropriated budget and is referred to in these notes as the Amended Appropriations Act of 1998-1999.
Overexpenditure ofan object class included in the budget ofthe Office ofTreasury and Fiscal Services would constitute a violation of Section 57 of the 1998-1999 Amended Appropriations Act.
GENERAL FUND A budget for the financial operations of the Office of Treasury and Fiscal Services' General Fund was not prepared by the Office. (See Note 1 - Fund Accounting, Governmental Fund Types, General Fund)
CASH AND INVESTMENTS The State Depository Board is designated by State law as the oversight Board for the State of Georgia's cash management and investment policies. The Office of Treasury and Fiscal Services acts as the administrative agent ofthe State Depository Board. The policy ofthe State ofGeorgia is to maximize the protection of State funds on deposit while accruing an advantageous yield on those funds in excess of those required for current operating expenditures (Official Code of Georgia Annotated [O.C.G.A.] Section 50-17-51). The State Depository Board may permit any department, board, bureau or other agency to invest funds collected directly by such organization in short-term time deposit agreements, provided that the interest income of those funds is remitted to the Director ofthe Office of Treasury and Fiscal Services as revenues of the State of Georgia. As a matter of general practice, however, State funds of any department, board, bureau or other agency in excess of current operating needs are required to be deposited with the Director ofthe Office ofTreasury and Fiscal Services for the purposes ofpooled investment. Such cash is managed in pooled investment funds to maximize interest earnings.
In addition, State law applicable to local governments provide for a State administered pool for the investment of local government funds with the State Depository Board and authorizes the State Depository Board to
- 14-

OFfiCE OF TREASURY AND FISCAL SERVICES
NOTES TO THE FINANCIAL SIATEMENTS
JUNE 30. 1999

EXHIBIT "I"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
CASH AND INVESTMENTS establish and maintain a continuing state-wide policy for the deposit and investment ofpublic funds under its control (O.C.G.A. Section 36-83-2).
Pooled assets and other deposits of the Office of Treasury and Fiscal Services are categorized on the Combined Balance Sheet (Statutory Basis) as follows:
+ Cash and Cash Equivalents include currency on hand, demand deposits with banks and other financial
institutions, and funds in transit from other spending units. Cash and Cash Equivalents also include shortterm, highly liquid investments with maturities ofthree months or less from the date of acquisition.
+ Investments are defined as those financial instruments with terms in excess of three months from the date
ofpurchase and certain other securities held for the production ofrevenue.
In accordance with accounting practices prescribed or permitted by statutes and regulations of the State of Georgia, pooled cash and cash equivalents and investments are reported at cost. This presentation differs from generally accepted accounting principles in that certain pooled cash and cash equivalents and investments should be carried at either fair value or amortized cost depending on the type of investment. However, no adjustment has been made to the Financial Statements since, in this situation, the method used by the Office ofTreasury and Fiscal Services produces materially the same results as the method required by generally accepted accounting principles.
Authorized pool investments are limited to the following in accordance with State statutes and policies ofthe State Depository Board:
1) Obligations of the State of Georgia or of other states.
2) Obligations issued by the United States government.
3) Obligations fully insured or guaranteed by the United States government or a United States government agency.
4) Obligations of any corporation ofthe United States government.
5) Prime banker's acceptances.
6) Repurchase Agreements.
7) Obligations of other political subdivisions ofthe State of Georgia.
8) Commercial paper issued by domestic corporations.
- 15-

OFFICE OF TREASURY AND FISCAL SERVICES NOTES TO THE FINANCIAL STATEMENTS JUNE 30. 1999

EXHIBIT "I"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

CASH AND INVESTMENTS Pooled cash and cash equivalents and investments ofthe Office of Treasury and Fiscal Services are grouped into portfolios for investment purposes according to the operating needs ofthe State ofGeorgia and other pool contributors. In accordance with State statutes and investment policy and guidelines adopted for the Office of Treasury and Fiscal Services by the State Depository Board, the Office invests a portion of the assets of the extended term portfolios (described below) in mortgage-backed securities. A brief description of each portfolio and disclosures relative to investments in the mortgage-backed securities follows.

PRIMARY LIQUIDITY PORIFOUO The Primary Liquidity Portfolio consists of "Georgia Fund 1", which is a combination local and state government investment pool, and Fund 6. Georgia Fund 1 is a stable net asset value investment pool which follows Standard and Poor's criteria for AAAm rated money market funds. However, Georgia Fund 1 operates in a manner consistent with Rule 2a7 of the Investment Company Act of 1940 and is considered to be a 2a7 like pool. The pool is not registered with the SEC as an investment company. The pool's primary objectives are safety ofcapital, investment income, liquidity and diversification while maintaining principal ($1.00 per share value). Net asset value is calculated weekly to ensure stability. The pool distributes earnings (net of management fees) on a monthly basis and determines participant's shares sold and redeemed based on $1.00 per share. Pooled cash and cash equivalents and investments are reported at cost. The pool does not issue any legally binding guarantees to support the value of the shares. Participation in the pool is voluntary and deposits consist offunds from local governments; operating and trust funds of State agencies, colleges and universities; and current operating funds of the State's General Fund.

Investments in Georgia Fund 1 and Fund 6 are directed toward short-term instruments such as U. S. Treasury obligations, securities issued or guaranteed as to principal and interest by the U. S. Government or any of its agencies or instrumentalities, banker's acceptances and repurchase agreements. The weighted average maturity ofGeorgia Fund 1 may not exceed 60 days. Fund 6 maintains a duration ofapproximately one year. The weighted average maturity for Georgia Fund 1 on June 30, 1999 was 27 days. The average investment duration for Fund 6 on June 30, 1999 was 1.03 years.

The following is a summary of pooled cash and cash equivalents and investments for Georgia Fund 1 as of June 30, 1999:

Security Ty,pe
U. S. Government Agencies Banker's Acceptances Repurchase Agreements

FairYalue
$4,412,373,404.56 356,956,981.03
1.877.117.609.21
$(2,64(2,447.2~.Q

Carryina Yalue
$4,384,918,383.28 356,956,981.03
1.877.117.609.21
s~.(21 B.22~.2Z~ ~~~

Interest/Yield Ra!eRanaes
4.75%-5.14% 4.78%-5.12% 4.75%-5.30%

Maturity Date Ranaes
35-118 Days 9-91 Days 1-91 Days

-16-

OFFICE OF TREASURY AND FISCAL SERVICES
NOTESTOTBEFUV\NC~STAIEMWNTS
JUNE 30. 1999

EXHIBIT "I"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
CASH AND INVESTMENTS SECONDARY LIQUIDITY PORTFOLIO
The Secondary Liquidity Portfolio contains Fund 11 which consists of certificates of deposit with an average investment duration of .25 years. State funds which are not necessary for current operating needs can be invested in Fund 11.
EXTENDED TERM PORTFOLIOS The Extended Term Portfolios consist ofFund 7, Fund 8 and Fund 9. Investments in Fund 7 consist generally of repurchase agreements and certain U. S. Government Securities. The average investment duration for Fund 7 on June 30, 1999 was 2.76 years.
Investments in Fund 8 consist generally of repurchase agreements and certain U.S. Government Securities which include mortgage-backed securities such as collateralized mortgage obligations and adjustable rate mortgages. These mortgage-backed securities are reported as U. S. Government Securities in the disclosure of custodial credit risk. (See Note 2 on Categorization of Investments) Investments in Fund 8 are transacted by an external investment management firm under direction of an investment advisory agreement executed between the Office of Treasury and Fiscal Services and the investment management firm. The agreement directs the investment firm to utilize the Merrill Lynch 1-3 year Treasury Index in managing the average duration of the overall portfolio, excluding cash, to within plus or minus six months of the duration of the Index. The average investment duration for Fund 8 on June 30, 1999 was 1.82 years. In addition, the investment advisory agreement places limitations on individual security purchases and holdings as follows:
1) Limits the duration of any security at the time of purchase to a maximum of five (5) years.
2) Requires any mortgage-backed security, at the time of purchase and periodically thereafter, to pass a "stress test" which provides for a duration profile not to exceed seven (7) years given an instantaneous and permanent interest yield increase of three-hundred (300) basis points.
3) With the exception ofU. S. Treasury securities, limits individual security investments to no more than the greater of$5 million or ten percent (10%) of the separate portfolio's total investments.
4) Prohibits investments in step-ups, interest amortization notes, interest-only strips, principal-only strips, inverse floaters and Z tranche securities.
As ofJune 30, 1999, the Office had $52,114,188.75 ofState funds in Fund 8 ofthe Extended Term Portfolios invested in U. S. Agency mortgage-backed securities.
Investments in Fund 9 consist of repurchase agreements and certain U.S. Government securities with an average investment duration of 1.61 years at June 30, 1999.

- 17-

OFFICE OF TREASURY AND FISCAL SERVICES
NOTES TO THE FINANCIAL STATEMENTS
JUNE 30. 1999

EXHIBIT "I"

NOTE 1: SUMMARY OF SIGNIFICANT ACCQUNTING POLICIES
CASH AND INVESTMENTS HEALTH INSURANCE FUND PORTFOLIO
The Health Insurance Fund Portfolio (Fund 2) investments generally consist of shares of Georgia Fund 1 and certain U. S. Government Securities. This portfolio had an average investment duration of .37 years at June 30, 1999.
RISK MANAGEMENT FUND PORTFOLIO The Risk Management Fund Portfolio (Fund 4) investments generally consist of shares of Georgia Fund 1, certain U. S. Government Securities and certain corporate notes. Investments in Fund 4 (other than Georgia Fund 1) are transacted by external investment management firms under direction of investment advisory agreements executed between the Office of Treasury and Fiscal Services and the investment management firms. This portfolio had an average investment duration of 1.82 years at June 30, 1999.
STATE OWNED STOCK Dating from the mid nineteenth century, the State of Georgia has owned stock in a private company (Official Code of Georgia Annotated Section 50-16-2). Ownership of the company has changed numerous times as well as the number ofshares held by the State. At June 30, 1999, 16,112 shares of common stock ofthe First Union Corporation with a fair value of $759,278.00 was owned by the State of Georgia. The Office of Treasury and Fiscal Services, acting as the State Treasury, holds the stock for the State ofGeorgia. This stock is not recorded in the financial statements ofthe Office of Treasury and Fiscal Services.
INVENTORIES No inventories of supplies are reported in these financial statements.
AMOUNT TO BE PROVIDED FOR RETIREMENT OF GENERAL LONG-TERM DEBT The amount to be provided for retirement ofgeneral long-term debt will be derived from future appropriations in accordance with Article Vll, Section IV, Paragraph ill ofthe Constitution ofthe State of Georgia. The amount shown on the Combined Balance Sheet (Statutory Basis) in this report is only that portion of appropriations necessary to be provided for retirement ofbond principal. Additional appropriations will be made to provide for payment of interest as the interest becomes due.
UNDISTRIBUTED SALES TAXES The liability for undistributed sales taxes represents sales tax collected on behalf of local governments on deposit at the Office ofTreasury and Fiscal Services at June 30, 1999 which have not been processed by the sales tax distribution system at the Department ofRevenue.
FUND EQUITY DESIGNATION
The designated fund balance represents State funds designated for future property tax relief.

- 18-

OFFICE OF IREASIJRY AND FISCAL SERVICES NOIES TO THE FINANCIAL STATEMENTS JUNE 30. 1999

EXHIBIT "I"

NOTE 1: SUMMARY OF SIGNIFICANT ACCQUNTJNG POLICIES

FUND EQUITY SURPLUS
Surplus as reflected in this report does not include State funds which will be lapsed based on work performed by the State Auditor at other organizational units of the State of Georgia for the year ended June 30, 1999. Final surplus and reserve balances for all appropriated funds will be disclosed in the subsequently issued State of Georgia Report ofthe State Auditor.

RESERVED FUND BALANCE Reserves represent those portions of fund equity not appropriable for expenditure or legally segregated for a specific future use. The following is a brief description of the reserves reflected in the accompanying financial statements:

BUDGET FUND GUARANTEED REVENUE DEBT COMMON RESERVE FUND
The amount of this reserve must be at all times at least equal to the aggregate highest annual debt service requirements on all outstanding guaranteed revenue bond obligations entitled to the benefit of this fund. The following is an analysis of the calculations for this reserve at June 30, 1999:

BOND ISSUE

RESERVE BALANCE JVLY 1.1998

INTEREST
EARNED

BALANCE AVAILABlE TO SERVICE
DEBT JUNE 30. 1999

HIGHEST ANNUAL DEBT
SERVICE REQUIREMENTS
JYNE 30. 1999

EXCESS BALANCE JYNE 30. 1999

State Tollway Authority Series 1998

$ 9,078,325.00 $ 512,404.26 $ 9,590,729.26

$ 9,078,325.00 $ 512,404.26

Georgia Environmental Facilities Authority Series 1991A Series 1992 Series 1997

2,334,750.00 2,238,710.00
~J!i9,Jl:i,QQ
SlZ.~l.JQQ.QQ

492,309.96

SI~.ZI 41~~

2,827,059.96 2,238, 710.00
~.2!i9,Jl:i,QQ
$18.2l:i,8]4.~

2,334,750.00 2,238,710.00 4,2!i2,Jl:!.QQ
SIZ.221.UI,Q~

492,309.96 0.00 Q.QQ
s l,~.Zl4.~~

htterest earned relative to the 1991, 1992 and 1997 Series of the Georgia Environmental Facilities Authority is shown as one amount under the 1991 Series.

Pursuant to the provisions of the Official Code of Georgia Annotated 50-17-23(b)(3), amounts in excess ofthe aggregate highest annual debt service requirements on all outstanding guaranteed revenue debt obligations are transferred to the general funds ofthe State of Georgia. Exhibit "B" ofthis report reflects the lapsing ofthe excess balance in the amount of$1,004,714.22 to the General Fund. The total reserved fund balance ofthe Guaranteed Revenue Debt Common Reserve Fund at June 30, 1999, was $17,921,100.00.

- 19-

OFFICE OF TREASURY AND FISCAL SERVICES
NOTES TO THE FINANCIAL STATEMENTS JUNE 30. 1999

EXHIBIT "I"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
FUND EQUITY RESERVED FUND BALANCE
GENERAL FUND APPROPRIATION TO DEPARTMENT OF TRANSPORTATION
The reserved fund balance of$5,870,997.61 for appropriation to the Department of Transportation in fiscal year 2000 is comprised of the following components:
(1) A reserved fund balance of$5,358,593.35 was determined by comparing the net Motor Fuel Tax collections of$606,358,593.35 for the year ended June 30, 1999, to the estimated Motor Fuel Tax collections budgeted of$601,000,000.00 for the fiscal year ending June 30, 2000. This reserved fund balance is mandated by Article ill, Section IX, Paragraph VI of the Constitution of the State of Georgia.
(2) A reserved fund balance in the amount of$512,404.26 for funds derived from Motor Fuel Tax collections deposited in the State of Georgia Guaranteed Revenue Debt Common Reserve Fund in excess of the amount required and subsequently lapsed to the General Fund of the State of Georgia.
MIDYEAR ADJUSTMENT RESERVE The Official Code ofGeorgia Annotated Section 45-12-93(b) provides, in part, that "As ofJune 30 of each fiscal year, the state auditor shall reserve from the state surplus an amount equal to 1 percent of the net revenue collections ofsuch fiscal year, to the extent that such surplus is available therefor. This amount shall be reserved before the amount shall be reserved for the revenue shortfall reserve ..." . On June 30, 1999, the reserved fund balance for Midyear Adjustment Reserve was $126,961,097.96.
REVENUE SHORTFALL RESERVE The Official Code ofGeorgia Annotated Section 45-12-93(a) provides, in part, that "As ofJune 30 of each fiscal year, the state auditor shall reserve from the state surplus an amount equal to 3 percent of the net revenue collections ofsuch fiscal year to the extent that such surplus is available therefor ... " . On June 30, 1999, the reserved fund balance for Revenue Shortfall Reserve was $380,883,293.88.
LOTTERY FOR EDUCATION The reserved fund balance of $269,897,820.40 for Lottery for Education mandated by the Official Code of Georgia Annotated 50-27-13 was determined in the following manner:

-20-

OFFICE OF IREASIJRY AND FISCAL SERVICES NOTES TO THE FINANCIAL STATEMENTS JUNE 30. 1999

EXHIBIT "I"

NOTE 1: SUMMARY OF SIGNIFICANT ACCQUNTING POLICIES

FUND EQUITY RESERVED FUND BALANCE

GENERAL FUND LOTTERY FOR EDUCATION

Reserved Fund Balance July 1, 1998

$183,336,858.27

Additions: Lottery Proceeds Interest Earned PriorYear Surplus Lapsed

646,705,000.00 15,936,824.92 15.902.477.21

Deductions: Appropriations - Fiscal Year 1999

$861,881,160.40 591.983.340.00

Reserved Fund Balance June 30, 1999

$269,897,820.40

The Official Code of Georgia Annotated 50-27-13 (b) (3) requires that within the funds transferred to the general fund of the state treasury and held for credit to the Lottery for Education Account, a Scholarship Shortfall Reserve subaccount shall be established and calculated as follows:

". . .An amount equal to 10 percent of the total amount of lottery proceeds disbursed during the preceding fiscal year in the form ofscholarships and grants for higher education shall be deposited from lottery proceeds each year until such amount equals 50 percent of such sum. Thereafter, only an amount necessary to maintain the scholarship shortfall-reserve subaccount in an amount equal to 50 percent ofthe amount oflotteryproceeds disbursed during the preceding fiscal year shall be deposited into the subaccount. .."

In addition to the amount calculated for the Scholarship Shortfall Reserve subaccount as described above, the Governor (former Governor Miller) requested the transfer of additional funds in order to prefund this reserve at $77,718,586.00 until such time as the statutory reserve reaches this level.

In addition to the Scholarship Shortfall Reserve subaccount, the Official Code of Georgia Annotated 50-27-13 (b) (4) requires that within the funds transferred to the general fund of the state treasury and held for credit to the Lottery for Education Account, a Shortfall Reserve subaccount shall be maintained and calculated as follows:

"...The amount ofthe shortfall reserve subaccount shall be equal to 10 percent of the total amount of lottery proceeds deposited into the Lottery for Education Account for the preceding fiscal y e a r. . ."

-21-

OFFICE OF TREASURY AND FISCAL SERVICES NOTES TO THE FINANCIAL STATEMENTS JUNE 30. 1999

EXHIBIT "I"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

FUND EQUITY RESERVED FUND BALANCE

GENERAL FUND LOTTERY FOR EDUCATION
At June 30, 1999, the Lottery for Education reserved fund balance is summarized as follows:

Restricted Reserves Scholarship Shortfall Reserve Subaccount Statutory Requirement Additional Funding Required by Governor's Request Shortfall Reserve Subaccount

$ 65,706,348.79
12.012.237.21 $ 77,718,586.00 55.507,200.00

Unrestricted Reserves

$133,225,786.00 136,672.034.40

$269.897.820.40

OLD STATE DEBT All "General State Bonds" of the State of Georgia are past due, but have not been presented for redemption. This obligation includes both principal and interest and will be liquidated if and when the past due outstanding bonds and coupons are presented.

DEBT SERVICE FUND DEBT SERVICE
The reserve for Debt Service represents the amount available in the Debt Service Fund to provide debt service for the General Long-Term Debt Account Group.

MEMORANDUM ONLY- TOTAL COLUMNS Total columns on the Combined Statements (Statutory Basis) are captioned "Memorandum Only" because they do not represent consolidated financial information and are presented only to facilitate financial analysis. The columns do not present information that reflects financial position, results of operations or changes in financial position in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.

COMPARATIVE DATA Comparative total data for the prior year have been presented in selected sections of the accompanying financial statements in order to provide an understanding ofthe changes in the Office's financial position and operations. Comparative totals have not been included on statements where their inclusion would not provide enhanced understanding ofthe Office's financial position and operations or would cause the statements to be unduly complex and difficult to understand.

-22-

OFFICE OF IREASURY AND FISCAL SERVICES NOTES TO THE FINANCIAL STATEMENTS
JUNE 30. 1999

EXHIBIT "I"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICffiS
COMPARATIVE DATA Certain amounts in the prior period financial statements have been reclassified to conform with the current year presentation.
NOIE 2: CUSTODIAL CREPIT RISKS OF CASH DEPOSITS AND INVESTMENTS
STATE OF GEORGIA COLLATERALIZATION STATUTES AND POLICIES Funds of the State of Georgia cannot be placed in a depository paying interest longer than ten days without the depository providing a surety bond to the State. In lieu of a surety bond, the depository may pledge as collateral any one or more of the following securities as enumerated in the Official Code of Georgia Annotated Section 50-17-59:
(1) Bonds, bills, certificates of indebtedness, notes, or other direct obligations of the United States or of the State of Georgia.
(2) Bonds, bills, certificates of indebtedness, notes, or other obligations of the counties or municipalities of the State of Georgia.
(3) 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.
(4) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia.
(5) Bonds, bills, certificates of indebtedness, notes, 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.
(6) Guarantee or insurance ofaccounts provided by the Federal Deposit Insurance Corporation.
As authorized in the Official Code of Georgia Annotated Section 50-17-53, the State Depository Board has adopted policies which allow agencies ofthe State of Georgia the option of exempting demand deposits from the collateral requirements.
CATEGORIZATION OF DEPOSITS For purposes of analysis of custodial credit risk, cash deposits consist of all bank balances which include demand deposits and/or interest bearing accounts. The bank balances as of June 30, 1999, are categorized below in order to provide information about the extent to which such deposits are exposed to custodial credit risk.
-23-

OFFICE OF IREASURY AND FISCAL SERVICES NOTES TO THE FINANCIAL STATEMENTS JUNE 30. 1999

EXHIBIT "I"

NOTE 2: CUSTODIAL CREDIT RISKS OF CASH DEPOSITS AND INVESTMENTS

CATEGORIZATION OF DEPOSITS Category 1 - Amounts covered by depository insurance or collateralized with securities (at market value) held by the Office or by its agent in the Office's name.

Category 2 - Amounts collateralized with securities (at market value) held by the pledging financial institution's trust department or agent in the Office's name.

Category 3 - Amounts collateralized with securities (at market value) held by the pledging financial institution or by its trust department or agent, but not in the Office's name, and amounts uncollateralized.

Cash Deposits

Carrying Amount

Bank Balances

Risk Categories

$210.859.584.59 $230.541.188.73 $20?.7J5.073.41 $-==--0"".0~0 $ 22.826.115.32

Governmental Accounting Standards Board Statement No. 31 requires a separate risk categorization ofbank balances of an external investment pool when a separate report is not issued for the external investment pool. Because OTFS does not maintain separate bank accounts for Georgia Fund 1, a "mixed" external investment pool, a separate risk categorization for Georgia Fund 1 cannot be presented. The carrying amount for Georgia Fund 1 as of June 30, 1999 was $9,133,338.62. This amount is included in the categorization of bank balances above.

CATEGORIZATION OF INVESTMENTS For purposes of analysis of custodial credit risk, investments consist ofU. S. Government securities, banker's acceptances, cotporate notes and repurchase agreements. Investments are stated at cost, and are summarized and classified as to custodial credit risk within the categories described below:

Category 1 - Insured or registered, or securities held by the Office or its agent in the Office's name.

Category 2 - Uninsured and unregistered, with securities held by the countetparty's trust department or agent in the Office's name.

Category 3 - Uninsured and unregistered, with securities held by the countetparty, or by its trust department or agent but not in the Office's name.

The carrying amounts of investment balances as of June 30, 1999, are categorized below.

-24-

OFFICE OF IREASURY AND FISCAL SERVICES NOTES TO THE FINANCIAL STATEMENTS JUNE 30. 1999

EXHIBIT "I"

NOTE 2: CUSTODIAL CREDIT RISKS OF CASH DEPOSITS AND IN\TESIMENIS

CATEGORIZATION OF INVESTMENTS

TvPe oflnvestment

Risk Categories

Carrying AmoUnt

Fair value

U. S. Government Securities
Banker's Acceptances Corporate Notes Repurchase Agreements

$5,687,087,471.08

$

$386,387,935.69

30,865,550.00

1.240,Q61,8Q 1.23

0.00 $5,687,087,471.08 $5,710,168,453.99 386,387,935.69 386,387,935.69 30,865,550.00 30,331,201.00
1.940.061.80 I .23 1.940.061.801.23

Total

SZ,627J42,2Z2.31 $417,253.485.62 $--===0=.0~0 $8,044,4Q~.Z~.OO SS,Q~~.942,391.2 I

Governmental Accounting Standards Board Statement No. 31 requires a separate risk categorization of investments of an external investment pool when a separate report is not issued for the external investment pool. The following is a separate risk categorization ofthe pooled investments of Georgia Fund 1, a "mixed" external investment pool, as of June 30, 1999. These amounts are included in the categorization of investments above.

TvPe of Investment

Risk Categories

Carrying AmOUnt

Fair Value

U.S. Government Securities
Banker's Acceptances Repurchase Agreements

$4,384,918,383.28

$

$356,956,981.03

l.8ZZJ IZ,609.21

0.00 $4,384,918,383.28 $4,412,373,404.56 356,956,981.03 356,956,981.03
1,8ZZ.11Z,6Q9.21 1,8ZZ,I1Z,6Q2.21

Total

$6,262,Q35.922.49 $356,956,981.03 $,-=-..-oiilii.O~Q $6,618.922,2]3.52 $6,646,447,924.80

NOTE 3: STAIB REVENUE COLLECTIONS

For the purposes ofthis report, State revenue collections listed on Schedule "6" ofthis report are defined as the net transfers of cash items received by the Office of Treasury and Fiscal Services identified as State revenue collections by the various units of State government during the fiscal year ended June 30, 1999.

NOTE 4: GENERAL LONG-TERM DEBT

CHANGES IN GENERAL LONG-TERM DEBT During the year ended June 30, 1999, the following changes occurred in the liability for General Obligation Bonds reported in the General Long-Term Debt Account Group:

Balance July 1, 1998 Add: Bonds Issued Less: Bonds Redeemed Bonds Defeased

$4,505,775,000.00 862,030,000.00 448,960,000.00 139.115.000.00

Balance June 30, 1999

-25-

$4.779.730.000.00

OFFICE OF TREASURY AND FISCAL SERVICES
NOIES TO THE FJNANCIAL STATEMENTS JUNE 30. 1999

EXHIBIT "I"

NOTE 4: GENERAL LQNG-TERM DEBT

CHANGES IN GENERAL LONG-TERM DEBT General obligation bonds currently outstanding and not considered defeased are as follows:

Purpose

Interest Rates

Amount

General Government General Government - Refunding

1.25%-8.40% 2.00%-6.75%

$4,051,270,000.00 728.460.000.00

$4.779.730.000.00

Annual debt service requirements to maturity for general obligation bonds are as follows:

Fiscal Year Endim~ June 30

Principal

Interest

Total

2000 2001 2002 2003 2004 Thereafter

$ 333,305,000.00 276,640,000.00 286,260,000.00 288,310,000.00 317,670,000.00
3.277.545.000.00

$ 273,580,727.50 255,368,897.50 238,493,752.50 221,796,945.00 203,873,973.75 973.479.576.25

$ 606,885,727.50 532,008,897.50 524,753,752.50 510,106,945.00 521,543,973.75
4.251.024.576.25

$4.Z12.z~g.ooo.og

$~.1 ~f!.~2~.~z,.~g

$6194~.~~~~~z,.~o

The total general long-term debt outstanding at June 30, 1999, excluding interest, was $4,779,730,000.00 and a schedule of this obligation by fiscal year is reflected on Schedule "9" of this report.

BONDS RETIRED IN ADVANCE OF DUE DATE In the year under review, the Georgia State Financing and Investment Commission redeemed $141,830,000.00 principal amount ofbonds in advance ofthe dates due. This financial activity has been reflected on Exhibit "E" ofthis report. A list of the bonds redeemed in advance of the dates due by the Georgia State Financing and Investment Commission is as follows:

-26-

OFfiCE OF TREASURY AND FISCAL SERVICES NOTES TO THE FINANCIAL STATEMENTS JUNE 30. 1999

EXHIBIT "I"

NOTE 4: GENERAL LONG-TERM DEBT

BONDS RETIRED IN ADVANCE OF DUE DATE

Bond Series

1991C 1991D 1992A 1992D 1993D 1993E 1995B 19950 1997A 1997C 1998B 1998C 19980

$

55,000.00

130,000.00

80,000.00

12,820,000.00

1,000,000.00

85,000.00

16,180,000.00

4,410,000.00

150,000.00

2,250,000.00

46,195,000.00

19,105,000.00

39.370.000.00

$ 141.830.000.00

NOTE 5: DEFEASANCE OF DEBT

During the fiscal year ended June 30, 1994, the State of Georgia defeased certain general obligation bonds by placing the proceeds of a refunding bond issue in an irrevocable trust to provide for all future debt service payments on the refunded bonds. Accordingly, the trust account assets and the liability for the defeased bonds are not included in the financial statements of the Office of Treasury and Fiscal Services. The principal outstanding at June 30, 1999, but considered defeased is reflected below:

Fiscal Year Defeased

Oefeased Bonds Outstandini

1994

$ 70,530.000.00

On December 1, 1998, the State of Georgia issued $142,425,000.00 in General Obligation Bonds with an effective interest rate of4.00% to refund in advance $139,115,000.00 ofpreviously issued State of Georgia General Obligation Bonds. The bond issue of$142,425,000.00 plus a $7,597,153.45 premium on bonds sold less $621,651.97 in bond issuance cost provided net proceeds of $149,400,501.48, which were deposited in
an irrevocable trust with an escrow agent to provide for all future debt service on the refunded bonds. As a
result, portions of the following State of Georgia General Obligation Bond issues are considered to be defeased and the liability for the refunded bonds has been removed from the General Long-Term Debt Account Group.

-27-

OFFICE OF TREASURY AND FISCAL SERVICES
NOTES TO THE FINANCIAL STATEMENTS
JUNE 30. 1999

EXHIBIT "I"

NOTE 5: DEFEASANCE OF DEBT

Bond Series

Principal
Amount

1987B 1988B 1988D 1989A 1989B 1990B 1991A

$ 4,420,000.00 7,590,000.00 8,420,000.00 3,915,000.00 5,950,000.00 10,010,000.00 98.810.000.00

$ 1J2.ll~.Qgg,QQ

The State ofGeorgia advance refunded the aforementioned general obligation bonds to reduce its total debt service payments over the next 12 years by $14,184,128.96 and to obtain an economic gain (difference between the present value of the principal and interest requirements on the newly issued refunding bonds and the present value ofthe principal and interest on the refunded bonds) of approximately $8,878,000.00. On June 30, 1999, $114,770,000.00 of the principal considered defeased by the aforementioned bond issue remained outstanding.

NOTE 6: OTHER INFORMAIION

The Office ofTreasury and Fiscal Services is administratively attached to the Department of Administrative Services as noted in Note 1 - Reporting Entity. As a result of this organizational relationship, all administrative and operating expenditures, which includes the payroll costs for employees ofthe Office of
Treasury and Fiscal Services, are budgeted within and reported on the financial statements ofthe Department
ofAdministrative Services.

NOTE 7: RISK MANAGEMENT

Public Entity Risk Pool

The State Personnel Board, Merit System ofPersonnel Administration administers for the State of Georgia a program ofhealth benefits for the employees ofunits ofgovernment ofthe State of Georgia, units ofcounty government and local education agencies located within the State of Georgia. This plan is funded by participants covered in the plan, by employers' contributions paid by the various units of government participating in the plan, and appropriations made by the General Assembly of Georgia. (See Note 6) The State Personnel Board, Merit System ofPersonnel Administration has contracted with Blue Cross Blue Shield of Georgia to process claims in accordance with the State Employees' Health Benefit Plan as established by the State Personnel Board.

-28-

OEFICE OF IREASURY AND FISCAL SERVICES
NOTES TO THE FINANCIAL STATEMENTS
WNE30.1999

EXHIBIT "I"

NOTE 7: RISK MANAGEMENT
Other Risk Management
The Department ofAdministrative Services (DOAS) has the responsibility for the State of Georgia ofmaking and carrying out decisions that will minimize the adverse effects of accidental losses that involve State government assets. The State believes it is more economical to manage its risks internally and set aside assets for claim settlement. Accordingly, DOAS processes claims for risk of loss to which the State is exposed, including general liability, property and casualty, workers' compensation, unemployment compensation, and law enforcement officers' indemnification. Limited amounts of commercial insurance are purchased applicable to property, employee and automobile liability, fidelity and certain other risks. The Office of Treasury and Fiscal Services is part of the State of Georgia reporting entity, and as such, is covered by the State of Georgia risk management program administered by DOAS. Premiums for the risk management program are charged to the various state organizations by DOAS to provide claims servicing and claims payment. (See Note 6)
NQTE8: SQBSEQUENIEYENI
Subsequent to June 30, 1999 and through the date of this report, the State of Georgia had issued general obligation bonds in the amount of$358,585,000.00, dated August 1, 1999. The proceeds from these bonds will be used to fund the capital outlay needs, in part, of the State of Georgia.
NOTE9: CQNTINGENCffiS
Litigation, claims and assessments filed against the Office of Treasury and Fiscal Services, if any, are generally considered to be actions against the State of Georgia. Accordingly, significant litigation, claims and assessments pending against the State of Georgia are disclosed in the State of Georgia Comprehensive Annual Financial Report for the fiscal year ended June 30, 1999.

-29-

SUPPLEMENTARY INFORMATION -31-

OFFICE OF TREASURY ANQ FISCAL SERVICES COMBINING BALANCE SHEET BUQGETFUNQ JUNE 30. 1999

EXHIB!T"J"

~ Cash and Cash Equivalents Accounts Receivable
State Appropriation
Total Assets

"A" STATE OF GEORGIA
GENERAL OBLIGATION DEBT SINKING FUND
(ISSUED)

"B" STATE OF GEORGIA
GENERAL OBLIGATION DEBT SINKING FUND
CNEWl

STATE OF GEORGIA GUARANTEED REVENUE DEBT
COMMON RESERVE FUND

TOTAL

s

s 121,430,288.19

s
90,646,429.00

s 17,921,100.00

17,921,100.00

212,076,717.19

s

s 121:430,288.19

s 90,646,429.00

s 17,921,100.00 229,997,817.19

LIABILITIES AND FUND EQUITY

liabilities

Cash Overdraft

s

Fund Equity

Fund Balances

Reserved

For Guaranteed Revenue

Debt Common Reserve Fund

Unreserved

Undesignated

Surplus

s

Total Fund Equity

s

s 121:430,288.19
s 0.00 s 0.00

Total liabilities and Fund Equity

s

s 12114301288.19

90,646:429.00

s 212,076,717.19

s
0.00
s 0.00
s 9016461429.00

s 17,921,100.00

17,921,100.00

0.00

0.00

17,921,100.00 $ 17,921,100.00

1719211100.00 $ 22919971817.19

See notes to the financial statements.

32.

OFFICE OF TREASURY AND FISCAL SERVICES COMBINING STATEMENT OF CHANGES IN FUND BALANCES
BUDGET FUND YEAR ENDED JUNE 30. 1999

EXHIBIT K"

FUND BALANCES-JULY 1
Reserved Unreserved
Undesignated Surplus
ADDITIONS
Excess of Funds Available over Expenditures
DEDUCTIONS
Unreserved Fund Balance (Surplus)
Returned to Office of Treasury
and Fiscal Services (General Fund) Year Ended June 30, 1999
Reserved Fund Balance Carried Over from Prior Year as Funds Available

A
STATE OF GEORGIA GENERAL
OBLIGATION DEBT SINKING FUND
(ISSUED!

B
STATE OF GEORGIA GENERAL
OBLIGATION DEBT SINKING FUND
(NEW)

STATE OF GEORGIA GUARANTEED REVENUE DEBT
COMMON RESERVE FUND

TOTAL

$

0.00 $

0.00 $

17,921,100.00 $ 17,921,100.00

0.00

0.00

0.00

0.00

$

0.00 $

0.00 $

17,921,100.00 $ 17,921,100.00

$

18,925,814.22 $ 18,925,814.22

$

1,004,714.22 $ 1,004,714.22

17,921,100.00

17,921,100.00

$

18,925,814.22 $ 18,925,814.22

FUND BALANCES- ~UNE 30

$

0.00 $

0.00 $

1719211100.00 $ 1719211100.00

See notes to the financial statements.

-33-

OFFICE OF TREASURY AND FISCAL SER\(ICES COMBINING STATEMENT OF FUNDS AVAILABLE AND EXPENDITURES
BUDGETFUNP YEAR ENDEP JUNE 30. 1999

EXHB!T"L"

FUNPS AVAILABLE REVENUES
STATE APPROPRIATION General Appropriation Amended Appropriation
Total State Appropriation OTHER REVENUES RETAINED
Interest Eamed
Total Revenues CARRY-OVER FROM PRIOR YEAR
Transfer from Reserved Fund Balance For Guaranteed Revenue Debt Common Reserve Fund
Total Funds Available

"A" STATE OF GEORGIA
GENERAL OBLIGATION DEBT SINKING FUND
(ISSUED)

"B" STATE OF GEORGIA
GENERAL OBLIGATION DEBT SINKING FUND
CNEWl

STATE OF GEORGIA GUARANTEED REVENUE DEBT
COMMON RESERVE FUND

TOTAL

$

364,910,630.00 $

123,963,553.00

$

488,874,183.00 $

$

488,874,183.00 $

47,140,080.00 26,602.426.00 73,742.506.00
$ 73,742,506.00 $

$ 412,050,710.00 150,565,979.00
$ 562,616,689.00
1,004,114.22 $ 1,004,714.22 1,004,714.22 $ 563,621,403.22

$

488,874,183.00 $

$

17,921,100.00 $ 17,921,100.00

73,742,506.00 $

18,925,814.22 $ 581,542,503.22

EXPENDITURES

GENERAL OBLIGATION DEBT SINKING FUND

Transfer to Debt Service Fund

$

Excess of Funds Available over Expenditures

488,874,183.00 $ 0.00

73,742,506.00 0.00 $

$ 562,616,689.00

18,925,814.22

18,925,814.22

$

488.874.183.00 $

73?42.506.00 $

18.925.814.22 $ 581.542.503.22

See notes to the financial statements.

34.

OFFICE OF TREASURY AND FISCAL SER\(ICES ~QMaiNIN~ IA!I:iM!iitfi QE ~!::IAt::!~l:i It::! AW At::!Q LIAaiLIIII:i
FIQ!.!~IABY E!.!t::!Q !Yfl:i ~l:it:l~ E!.!t:IQ
YEAR Et:!QEQ J!.!t:IE 3Q. 1999

EXHIB!T"M"

.B.!!liQ
GEORGIA FUND 1 Administrative Services, Department of Regular Georgia Distance Learning Telemedicine Surplus Property Fund Risk Management/Self-Insurance Funds Agricultural Commodity Commission for Cotton Boll Weevil Eradication Foundation of Georgia, Incorporated Community Affairs, Department of Corrections, Department of Education, Department of Financing and Investment Commission, Georgia Stata Georgia Education Authority Revolving Fund Georgia Education Authority (Schools) Georgia Education Authority (University) Georgia Building Authority Georgia Correctional Industries Administration Georgia Development Authority Georgia Environmental Facilities Authority Georgia Golf Hall of Fame Georgia Higher Education Assistance Corporation Georgia Housing and Finance Authority Georgia Lottery Corporation Georgia Music Hall of Fame Authority Georgia Ports Authority Georgia Rail Passenger Authority Georgia Regional Hospital at Savannah Georgia Seed Development Commission Georgia Student Finance Authority Georgia Student Finance Commission Georgia World Congress Center Authority, George L. Smith, II GeorgiaNet Authority Governor, Office of the Jekyll Island State Park Authority Labor, Department of Law, Department of Medical Assistance, Department of Indigent Care Trust Fund Moultrie Area Technical Institute Natural Resources, Department of North Georgia Mountains Authority Personnel Board, State - Merit System of Personnel Administration Flexible Benefits - GET State Employees' Health Insurance Fund Public Safety, Department of Public Service Commission Public Telecommunications Commission, Georgia Regents of the University System of Georgia, Board of Various Colleges and Universities Regional Educational Service Agencies Secretary of State State Tollway Authority Stone Mountain Memorial Association Subsequent Injury Trust Fund Superior Courts of Georgia Administrative Office of the Courts Prosecuting Attorney's Council Supreme Court of Georgia Office of Dispute Resolution Office of Bar Admissions Transportation, Department of Treasury and Fiscal Services, Office of Authorities, Cities, Commissions, and Boards Children's Trust Fund Land Registration Assurance Fund
Total Georgia Fund 1
See notes to the financial statements.

ASSETS/ LIABILITIES JULY1,1998

ADDITIONS

DELETIONS

ASSETS/ LIABILITIES JUNE 301 1999

$

21,104,776.35 $

1,764,193.98

75,358,447.69

2,945,790.71

6,265,827.92 12,485,490.32
7,828,685.59 54,275.40

494,180.47 601,119.63 759,956.21 12,224,430.82 6,416,205.33 530,446.12 205,683,636.36 188,748.10 13,793,568.12 9,085,883.25 994,410.62 1,014,720.74 7,298,111.44
50,086.94 616,687.73 1,538,590.35 12,843,246.41 739,932.19

16,857.46 2,695,321 .93 2,455,823.88 3,407,253.42
36,989.98 0.00

0.00 100',372.96 83,480,898.18 4,595,785.94

1,021,482.50 $ 92,375.56
186,299,834.94 1,132,425.97
5,379,677.01 4,600,612.97 7,803,910.04
2,841.95
1,754,658.68 31,475.42
117,146.54 23,366,879.05
3,391,910.32 5,887,385.94 91,101,853.32
491,438.29 638,786.89 1,054,805.14 743,122,980.61
53,132.14 20,831,670.17
2,622.62 29,229.41 1,622,795.62 5,513,883.23 216,963.10
882.68 16,620,197.35
8, 734,784.68 178,408.34 1,936.84 101,704.07
181,290,820.17 4,163,496.24
54,461,739.45 1,463,097.85

2,656,385.62 $
187,881,668.96 1,028,000.00
5,021,000.00 5,082,905.43 10,916,544.67
586,686.92
25,500.00 20,784,000.00
2,750,000.00 5,184,780.67 57,685,146.08
183,000.00 3,000,000.00 2,752,292.21 735,005,000.00
17,622,012.99
100,000.00 1,794,000.00 10,883,621.00
16,500,000.00 3,730,000.00
181,164,882.00 4,155,000.00
33,347,322.99 2,241,939.15

19,469,873.03 1,856,569.54
73,776,613.67 3,050,216.68
6,624,504.93 12,003,197.86
4,716,050.96 57,117.35
1,662,152.23 632,595.05 851,604.75
14,807,309.87 7,056,115.65 1,253,051.39
239,100,343.60 497,186.39
11,432,355.01 7,388,396.18 9,112,371.23 1,067,852.88
10,507,768.62 52,709.56
545,917.14 1,367,385.97 7,473,508.84
956,895.29
17,740.14 2,815,519.28 7,460,608.56 3,585,661 I 76
38,926.82 101,704.07
125,938.17 108,869.20 104,595,314.64 3,816,944.64

7,417,069.74 9,138,910.18 1,828,616.18 1,238,283.97
1,910.01

46,651,556.27 728,616,620.68
872,048.55 26,363,753.76
100.01

43,550,345.90 657,791,600.00
10,379,465.59

10,518,280.11 80,163,930.86
2,700,664.73 17,222,572.14
2,010.02

118,771,927.75 1,397,994.81 1,502,510.61 4,555,633.84 3,281,057.84
33,277,124.76
1,188,287.94 1,493,968.68
110,114.48 1,990,609.74 21,784,142.96

479,865,754.95 362,146.30 78,673.47
1,224,908.74 8,186,390.04 47,297,157.50
783,861.87 396,538.28
45,795.34 616,096.20 1,134,479.07

459,560,000.00 125,000.00
1,500,000.00 1,717,000.00 66,665,000.00
353,730.20
6,802.19 695,969.63 137,434.54

139,077,682.70 1,635,141.11 1,581,184.08 4,280,542.56 9,750,447.68
13,909,282.26
1,972,149.81 1,536,796.76
149,107.63 1,910,736.31 22,781,187.49

2,659,527,699.49 4,141,440.23 82,700.57
$ 3,372,200,778.32 $

5,402,917,794.13 4,414,303.40 4,330.31
8,122,612,133.97 $

4,852,113,559.06 4,036,115.00

3,210,331,934.56 4,519,628.63 87,030.88

7,410,693,711.00 $ 4,084,119,201.29

-35-

OFFICE OF TREASURY AND FISCAL SERVICES ~QM61f:ll!::!~ ~TAIEiMEif:II QE ~!:!A!::!~Ei~ It:! ~~W Ar:IQ L.IAaiLITIEi~
EIQI.!~IABY fi.!!::!Q !YEJ; A~Eir:I~Y EI.!NQ~
YEAB ENDE;Q JI,!NE 30. 1999

EXHIB!T"M"

B.lt:fQ
OTHER Administrative Services, Department of Risk Management/Self-Insurance Funds Insurance, Department of Insurance Company Regulation Refund Account Natural Resources, Department of Georgia Hazardous Waste Management Authority Personnel Board, State Merit System of Personnel Administration State Employees' Health Insurance Fund Public Safety, Department of Bureau of Safety Responsibility Revenue, Department of Education Local Option Sales Tax Collections
Payments to Department of Revenue
Cost of Collections Withheld June 30, 1999 Homestead Option Sales Tax Collections
Payments to Department of Revenue
Cost of Collections Withheld June 30, 1999 Income Tax Withholding Refund Local Option Sales Tax Collections Payments to Department of Revenue Cost of Collections Withheld June 30, 1999 MARTA Sales Tax Collections
Payments to MARTA
Cost of Collections Withheld June 30, 1999 Railroad Car Tax Fund Real Estate Transfer Tax Special Purpose Sales Tax Collections
Payments to Department of Revenue
Costs of Collections Withheld June 30, 1999 Transportation, Department of Federal Reimbursements Treasury and Fiscal Services, Office of Cash Management Improvement Act Corporation Dissolution Fund Federal Financial Assistance for:
Payments to States in Lieu of Real Estate Taxes
Sale of Public Land
Schools and Roads Grants to States
Timber Proceeds Funds fireworks Manufacturers License Fund General Fund Transfers
Employees' Retirement System Georgia Income Tax Withholding Account Health Insurance Payments Judicial Retirement System Legislative Retirement System Merit System Assessments
Total Other

ASSETS/ LIABILITIES JULY 11 1998

ADDITIONS

DELETIONS

ASSETS/ LIABILITIES JUNE 301 1999

s s 206,729,430.55
0.00 644,930.00

107,379,070.03 $ 243,379,716.10

s 71,808,822.28
243,379,716.10 411,975.00

242,301 ,678.30 0.00
432,955.00

197,635,401.64

122,507,856.25

75,127,543.39

42,738.91

15,994.98

6,215.52

52,516.37

50,545,232.54

915,964,226.44

4,682,707.71

81,544,427.45

32,017,093.22 49,926,701.51

1,098,472,431.44 648,969,288.43

15,728,507.85

277,272,120.30

280,548.80 11 ,510,936.83 42,562,833.26

51 ,561 ,519.91 782,501,979.45

893,362,245.55 9,033,368.82
80,171,965.77 803,895.88
1,029,633,160.34 837,857,591.63 8,365,577.48
272,793,982.51 2,686, 729.71
47,833,467.64 773,189,522.41
7,713,064.89

64,113,644.61
5,251 ,273.51 100,856,364.32
52,672,820.83
17,519,915.93 280,548.80
15,258,989.10
44,162,205.41

15,119,876.65

570,346,367.08

556,982,853.15

26,483,390.56

0.00 13,524.03

7,564.00

7,564.00

0.00 13,524.03

0.00 0.00 0.00 0.00 1,000.00

948,378.03 3.00
328,419.08 327,555.13

948,378.03 3.00
328,419.08 327,555.13

0.00 0.00 0.00 0.00 1,000.00

22,314,200.95 5,710,805.90 14,513,808.69 0.00 32,673.55 0.00

320,277,821.71 71 ,098,376.45 183,030,786.45 10,303.94 314,629.55 3,771,573.59

315,913,254.73 71 '166,005.07 182,053,986.61 8,888.16 321,029.90 3,771,573.59

26,678,767.93 5,643,177.28 15,490,608.53 1,415.78 26,273.20 0.00

s s $ 670,212,952.59 $ 5,557,542,552.54

5,535,386,690.23

692,368,814.90

$ 4104214131730.91 $ 13168011541686.51 $ 12194610801401.23 $ 4177614881016.19

See notes to the financial statements.

-36.

OFFICE OF IREASURY AND FISCAL SERVICES

SCHEDULE "1"

SCHEDULE OF REQUIRED SUPPLEMENTARY INFORMATION

YEAR 2000 DISCLOSURES

YEAR ENDED UJNE 30. 1999

The Office of Treasury and Fiscal Services (OTFS) has identified numerous computer systems and other electronic equipment that are critical to operations which are affected by the year 2000 issue. The year 2000 issue is the result ofshortcomings in many electronic data processing systems and other equipment that make operations beyond 1999 troublesome. The following stages have been identified as necessary to implement a year 2000 compliant systems.
Awareness Stage- Encompasses establishing a budget and project plan for dealing with the year 2000
ISSUe.
Assessment Stage - The actual process ofidentifying all of its systems and individual components of the systems to check for compliance.
Remediation Stage - When changes are made to systems and equipment.
Validation/Testing Stage - The process of ensuring that the changes made to systems and equipment will produce a year 2000 compliant system.
It will be necessary for OTFS to progress through all four ofthese stages for each computer and/or electronic system, not already year 2000 compliant, in order to assure that these systems will not be adversely affected. However, completion of these stages does not guarantee that systems and equipment will be year 2000 compliant.
The systems identified by OTFS as critical to their operations are QED (general accounting), WindowsNT (OTFS internal network), Sun Spare Ultra 2 (server), Compaq Proliant 1600 (server) and various workstations (PC's). The Validation/Testing Stage has been completed for the computer systems identified as critical and OTFS had no outstanding contractual commitments for the year 2000 issue at June 30, 1999.

See notes to the financial statements.

-37-

OFFICE OF TREASURY AND FISCAL SERVICES SCHEDULE OF APPROVED BUDGET BUDGET FUND
"A" STATE OF GEORGIA GENERAL OBLIGATION DEBT SINKING FUND liSSUEDl YEAR ENDED JUNE 30. 1999

SCHEDULE "2"

FUNDS AVAILABLE REVENUES
State Appropriation

ORIGINAL

AMENDED

APPROPRIATION APPROPRIATION

TOTAL

$ 364,910,630.00 $ 123,963,553.00 $ 488,874,183.00

EXPENDITURES General Obligation Debt Sinking Fund

$ 364,910,630.00 $ 123,963,553.00 $ 488,874,183.00

See notes to the financial statements.

-38-

OFFICE OF TREASURY AND FISCAL SERVICES SCHEDULE OF APPROVED BUDGET BUDGET FUND
"B" STATE OF GEORGIA GENERAL OBLIGATION DEBT SINKING FUND <NEW) YEAR ENDED JUNE 30. 1999

SCHEDULE "3"

FUNDS AVAILABLE REVENUES
State Appropriation

ORIGINAL

AMENDED

APPROPRIATION APPROPRIATION

TOTAL

$ 47,140,080.00 $ 26,602,426.00 $ 73,742,506.00

EXPENDITURES General Obligation Debt Sinking Fund

$ 47,140,080.00 $ 26,602,426.00 $ 73,742,506.00

See notes to the financial statements.

-39-

OFFICE OF TREASURY AND FISCAL SERVICES CASH AND CASH EQUIVALENTS JUNE 30. 1999

SCHEDULE "4"

NONINTEREST BEARING ACCOUNTS Bankers Trust Company, Atlanta, Georgia Funds in Transit from Various Spending Units
INTEREST BEARING ACCOUNTS NationsBank, N. A., Atlanta, Georgia SunTrust Bank, Atlanta, Georgia Wachovia Bank, N. A., Atlanta, Georgia
OTHER Banker's Acceptances
Repurchase Agreements

$ 17,921,113.24
99,359,113.41 $ 117,280,226.65

$ -17,650,000.95

0.50

3,013,471.80

-14,636,528.65

278,415,972.14 1,440,061,801.23

$ 1,821,121,471.37

See notes to the financial statements.

-40-

OFFICE OF TREASURY AND FISCAL SERVICES INVESTMENTS JUNE 30.1999

CERTIFICATES OF DEPOSIT

Atlanta Atlanta Atlanta Augusta Colquitt Columbus Columbus Dawson Dublin Eastman Gainesville Gainesville Jeffersonville Pitts Quitman Ringgold Thomaston Thomson Valdosta Vidalia

Citizens Trust Bank First Union National Bank SouthTrust Bank, N. A. Georgia Bank and Trust Company of Augusta Peoples Community Bank Columbus Bank and Trust Company SouthTrust Bank, N. A. Bank of Dawson Farmers and Merchants Bank Citizens Bank and Trust Company Lanier National Bank Regions Bank Peoples State Bank Community Bank of Wilcox Citizens National Bank of Quitman, The Gateway Bank and Trust Bank of Upson Regions Bank First State Bank and Trust Company of Valdosta First Community Bank of Vidalia

BANKER'S ACCEPTANCES CORPORATE NOTES FEDERAL FARM CREDIT BANK FEDERAL HOME LOAN BANK FEDERAL HOME LOAN MORTGAGE CORPORATION FEDERAL NATIONAL MORTGAGE ASSOCIATION GOVERNMENT NATIONAL MORTGAGE ASSOCIATION REPURCHASE AGREEMENTS U.S. TREASURY NOTES

SCHEDULE "5"

CARRYING AMOUNT

$

4,000,000.00

17,250,000.00

33,500,000.00

6,000,000.00

200,000.00

33,000,000.00

43,500,000.00

300,000.00

5,225,000.00

13,200,000.00

2,500,000.00

33,750,000.00

200,000.00

100,000.00

400,000.00

100,000.00

100,000.00

11 '750,000.00

2,400,000.00

100,000.00

$ 207,575,000.00

107,971,963.55

30,865,550.00

92,091,634.33

805,182,924.93

2,403,870,983.39

1,990,084,304.34

67,636.19

500,000,000.00

395,789,987.90

$ 6,533,499,984.63

See notes to the financial statements.

-41-

OFFICE OF TREASURY AND FISCAL SERVICES GENERAL FUND
SCHEDULE OF STATE REVENUE COLLECTIONS BY DEPARTMENTS YEAR ENDED JUNE 30.1999

SCHEDULE "6"

COLLECTING UNIT
Administrative Services, Department of Properties Commission, State
Agriculture, Department of Audits and Accounts, Department of Banking and Finance, Department of Corrections, Department of General Assembly of Georgia GeorgiaNet Authority Governor, Office of the Human Resources, Department of Insurance, Department of Investigation, Georgia Bureau of Judicial Branch Labor, Department of Law, Department of Natural Resources, Department of Pardons and Paroles, State Board of Public Safety, Department of Public Service Commission Regents of the University System of Georgia,
Board of Revenue, Department of Secretary of State Student Finance Commission, Georgia Treasury and Fiscal Services, Office of Workers' Compensation, State Board of

$

11 ,295,591 .38

6,403,947.11

2,069,634.64

12,299,576.38

14,762,265.69

36,503.03

16,500,000.00

1,067,543.69

25,930,619.01

234,577,550.48

35,181.44

440,879.81

21,946,767.13

227.08

40,155,293.92

955,598.94

40,305,462.51

3,719,746.00

205,589.77 12,044,868,516.37
32,065,156.49 284,552.48
174,831,281.80 11 ,352,310.94

$ 12,696,109,796.09

See notes to the financial statements.

-43-

OFFICE OF TREASURY ANP FISCAL SERVICES GENERAL FUNQ
ANALYSIS OF APPROPRIATION ALLOTMENTS YEAR ENDED JUNE 30. 1999

SPENDING UNIT
Legislative Branch General Assembly of Georgia Audits and Accounts, Department of
Judicial Branch Executive Branch
Administrative Services, Department of Operations
Agriculture, Department of Banking and Finance, Department of Community Affairs, Department of Corrections, Department of
A Administration, Institutions and Probation "B" Pardons and Paroles, State Board of Defense, Department of Education, Department of "A" Education, Department of "B" Lottery for Education Employees' Retirement System Forestry Commission, Georgia Govemor, Office of the "A Office of the Govemor
Govemor's Emergency Fund Year 2000 Computer Compliance "B" Lottery for Education Human Resources, Department of Industry, Trade and Tourism, Department of Insurance, Department of Investigation, Georgia Bureau of Juvenile Justice, Department of Labor, Department of Law, Department of Medical Assistance, Department of "A" Medicaid Services "B" Indigent Trust Fund
c Peachcare for Kids
Natural Resources, Department of Personnel Board, State Merit System of
Personnel Administration Public Safety, Department of
"A" Public Safety, Department of "B" Units Attached For Administrative Purposes Only Public School Employees' Retirement System Public Service Commission Regents of the University System of Georgia, Board of
"A" Resident Instruction "B" Regents' Central Office and Other
Organized Activities "0" Lottery for Education
See notes to the financial statements.

LEGISLATIVE APPROPRIATION

APPROPRIATION FOR FISCAL YEAR 1999

GOVERNOR'S

EMERGENCY

BUDGET

FUNDS

FUND

ADJUSTMENTS

LAPSED

$

27,801,978.00

23,623,583.00

100,960,794.00

43,295,169.00 48,637,459.00
9,846, 715.00 35,885,on.oo $

$ 1,784,736.00

25,970,782.00 702,336.00
10,000.00 $

782,170,390.00 47,017,963.00
5,538,547.00

4,098,407.00 53,200.00

4,827,307,403.00 324,585,972.00 673,425.00 38,218,400.00

60,000.00

2,824,313.00

28,162,285.00 22,861,789.00 170,000,000.00
0.00 1,225,835,493.00
23,256,380.00 15,781,902.00 53,289,340.00 215,253,274.00 21,251,054.00 13,837,210.00

20,131,589.00 22,860,666.00
38,000.00
25,000.00 111,920.00

37,871,200.00
170,000,000.00
18,716,930.00 2,000,000.00
2,741,551.00 1,053,945.00

1,198,280,467.00 148,828,880.00 8,623,130.00 109,910,803.00

637,471.00

607,667.00 32,336,002.00
1,405,900.00

32,500,000.00

104,480,478.00 14,843,486.00 17,642,000.00 9,543,799.00

744,851.00 236,735.00
10,500.00

36,896.00 -375,000.00
2,500,000.00 1,450,000.00
-261,800.00 200,000.00
1,123.00 -273,n8.00
-179,084.00

1,398,804,942.00
1g1,622,861.00 26,885,000.00

27,000.00

12,298,011.00 291,849.00

-44-

SCHEDULE'T Page 1

NET APPROPRIATION

BALANCE DUE SPENDING UNIT
JULY 1, 1998

CASH ALLOTMENTS
DRAWN

FUNDS RETURNED BY SPENDING UNIT

SURPLUS LAPSED

BALANCE JUNE 30, 1999

$

27,801,978.00 $

23,623,583.00

100,960,794.00

6,551,539.88 $ 0.00
64,381.23

24,210,658.27 23,058,887.61 99,789,131.42 $

$ 58,814.73

-3,818,172.92 $ -57,128.79 -141,550.43

6,324,686.69 507,566.60
1,153,308.11

69,265,951.00 49,339,795.00
9,846,715.00 37,642,917.00
785,893,797.00 47,017,963.00
5,591,747.00
4,827,691, 716.00 323,135,972.00 673,425.00 37,956,600.00
85,965,074.00 0.00 0.00 0.00
1,244,316,645.00 25,256,380.00 15,781,902.00 56,030,891.00 216,332,219.00 21,251,054.00 13,949,130.00
1,198,888,134.00 181,164,882.00 8,444,046.00 111,954,174.00
32,500,000.00
105,225,329.00 15,080,221.00 17,642,000.00 9,554,299.00

420,682.55 299,185.44
0.00 24,900,790.54
41,637,075.34 730,860.34 279,436.82
2,451,279.31 123,361,212.44
0.00 3,360,751.89
127,619,999.92 0.00 0.00 0.00
2,045,300.37 3,894, 753.34
0.00 0.00 11,381,542.48 108,142.00 681,578.84
140,479,069.67 63,570,001.52
0.00 3,154,881.86
300,000.00
846,929.70 5,184,479.79
0.00 795,933.93

69,402,622.80 48,504,197.00
9,595,005.82 37,499,722.25
n4,470,130.54 47,510,304.92
5,781,983.82
4,813,254,589.50 304,518,742.79 673,425.00 35,444,586.67
131,345,761.31
1,194,129,319.55 27,635,794.68 14,785,250.47 48,983,273.61 214,874,300.78 21,316,706.00 13,281,710.73
1,199,620,075.80 202,524,129.61 54,915.24 112,348,689.31
25,099,096.n
101,532,860.43 16,421,065.23 17,642,000.00 9,313,657.38

1,on,964.19 500,000.00
4,781.04 50,364.62

-1,on,964.19 1,076,276.97
206,231.94 -659,665.34
2,442,437.10 -4,781.04
-50,364.62
-2,512,174.49 -2,272,9n.98
-612,878.89
-1,334,552.78

3,763.26
10,n3,28o.oo
1o8,m.18 3,678,061.21 1,810,373.82

-3,763.26 -6,552,567.58 -10,880,302.n
-996,651.53 -108,n2.18 -3,678,061.21 -1,810,373.82 -646,502.61
-23,120,631.80

402,663.84 6n.886.13

-402,663.84 -200,903.23 -107,731.86 -255,090.46 -sn,886.13

284,010.75 558,506.47
45,4n.24 24,384,319.95
50,618,304.70 238,518.42 89,200.00
14,376,231.32 139,705,463.67
0.00 5,259,886.33
80,904,759.83 0.00 0.00 0.00
45,680,058.24 1,408,315.89 0.00 7,047,617.39
12,839,460.70 42,490.00 702,495.50
116,626,496.07 42,210,753.91
8,389,130.76 2,760,366.55
7,500,000.00
4,431,666.41 3,588,545.10
0.00 1,036,575.55

1,411,129,953.00
191,914,710.00 26,885,000.00

42,622,325.00
2,780,000.00 2,418,402.00

1,413,950,409.70
194,142,235.00 29,195,500.00

1,636,202.30
387,793.n 161,318.30

-1,636,202.30
-387,793.n -161,318.30

39,801,868.30
552,475.00 107,902.00

-45-

OFFICE OF TREASURY ANP FISCAL SERVICES GENERAL FUNP
ANALYSIS OF APPROPRIATION ALLOTMENTS YEAR ENDEP JUNE 30. 1999

SPENQING UNIT
Executive Branch Revenue, Department of Seaetary of State "A" Seaetary of State "B" Real Estate Commission Soil and Water Conservation Commission, State Student Finance Commission, Georgia "A" Student Finance Commission "B" Lottery for Education Teachers Retirement System Technical and AduH Education, Department of "A" Technical and AduH Education, Department of "B" Lottery for Education Transportation, Department of Operations (Motor Fuel Tax Funds) Special Appropriations Treasury and Fiscal Services, Office of General Obligation Debt Sinking Fund, State of Georgia Issued New Guaranteed Revenue Debt Common Reserve Fund, State of Georgia Old State Debt Veterans Service, State Department of Workers' Compensation, State Board of

LEGISLATNE APPROPRIATION

APPROPRIATION FOR FISCAL YEAR 1999

GOVERNOR'S

EMERGENCY

BUDGET

FUNDS

FUND

ADJUSTMENTS

LAPSED

$

113,297,564.00

29,641,611.00 $ 2,272,618.00 2,194,317.00

33,478,570.00 215,153,022.00
3,800,000.00

247,491,549.00 26,809,346.00

563,992,004.00 34,162,921.00

$ 5,000.00

16,533,381.00
528,885.00 79,462.00
$

20,000.00

41,163,731.00

-o.36 0.36

-33,023.00
-150,000.00 -200,000.00

488,874,183.00 73,742,506.00
0.00 0.00 20,425,431.00 11,454,420.00

19,950.00

56,364.00

-20,000.00

$ 13,233,847,510.00 $

0.00 $

32,336,002.00 $===5..,.6=8=0=704=.00=

See notes to the finandal statements.

-46-

SCHEDULE "T' Page2

NET APPROPRIATION

BALANCE DUE SPENDING UNIT
JULY 1,1998

CASH ALLOTMENTS
DRAWN

FUNDS RETURNED BY SPENDING UNIT

SURPLUS LAPSED

BALANCE JUNE 30, 1999

s

s 129,830,945.00

s 24,588,240.41

112,648,043.98

s s -1,120,134.00

40,651,007.43

30,175,496.00 2,352,080.00 2,161,294.00
33,478,570.00 215,153,022.00
3,650,000.00

1,722,241.58 618,784.12 481,287.12
0.00 0.00 0.00

28,470,364.08 1,980,526.94 2,221,845.72
s 33,478,570.00
215,153,022.00 3,650,000.00

445.72 13,370,657.65
179,008.18

-1,229,111.85 -99,932.92 -5,152.38
-445.72 -13,370,657.65
-179,008.18

2,198,261.65 890,404.26 415,583.02
0.00 0.00 0.00

288,475,280.00 26,809,346.00

8,672,180.21 3,065)19.29

251,836,278.04 13,720,938.93

719,171.45 93,760.02

-719,171.45 -93,760.02

45,311,182.17 16,154,126.36

563,992,003.64 34,162,921.36

951,559,452.73 50,911,144.65

595,126,648.85 10,092,146.85

333,416.19

-333,416.19

920,424,807.52 74,981,919.16

488,874,183.00 73,742,506.00
0.00 0.00 20,445,381.00 11,490,784.00

216,311,097.68 16,903,923.00
0.00 26,980.00 1,891,867.04 208,027.83

583,754,992.49
20,092,165.54 11,465,820.86

1,004,714.22

-1,004,714.22
-825,647.55 -89,747.35

121,430,288.19 90,646,429.00
0.00 26,980.00 1,419,434.95 143,243.62

s s s s s s 13,260,502,808.00

1,888,901,481.86

13,165,602,104.29

37,033,212.82

-86,965,273.61

1,933,870,124.78

-47-

OFFICE OF TREASURY AND FISCAL SERVICES GENERAL FUND
RECONCILIATION OF SURPLUS LAPSED YEAR ENDED JUNE 30.1999
Surplus Lapsed per Report of the State Auditor for Year Ended June 30, 1998 Adjustments: Fiscal Year 1999 Early Remittance of Surplus Guaranteed Revenue Debt Common Reserve Fund Industry, Trade and Tourism, Department of Labor, Department of
Total Surplus Lapsed per Analysis of Appropriation Allotments

SCHEDULE "8"
$ 73,438,148.03
1,004,714.22 10,773,280.00
1,749,131.36
$ 86,965,273.61

See notes to the financial statements.

-49-

OFFICE OF TREASURY AND FISCAL SERVICES DEBT SERVICE FUND
SCHEDULE OF BONDS OUTSTANDING JUNE 30. 1999

Interest Rate Range
Original Issue
Less: Bonds Redeemed Bonds Defeased
Bonds Outstanding June 30, 1999
Maturing
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 .2011 2012 2013 2014 2015 2016 2017 2018

TOTAL

SERIES 1986B

SERIES 1987B

4.40% - 6.75% 5.00%- 7.60%

$ 7,884,070,000.00 $ 441,575,000.00 $ 121,810,000.00

2,479,135,000.00 625,205,000.00

383,900,000.00 57,675,000.00

116,940,000.00 4,420,000.00

$ 4,779,730,000.00 $

0.00 $

450,000.00

September 1

$ 207,890,000.00 $
292,505,000.00 286,540,000.00 277,010,000.00 309,805,000.00 326,535,000.00 343,565,000.00 335,520,000.00 325,435,000.00 306,460,000.00 323,335,000.00 322,015,000.00 288,630,000.00 242,295,000.00 207,250,000.00 160,695,000.00 153,585,000.00 50,355,000.00
19,305,000.00 1,000,000.00

0.00
$

April1 450,000.00

s 4,779,73o,ooo.oo s _ _ _...,..o.o..o._s_....;;4s.o.ilii,ooo-..oo-.

See notes to the financial statements.

-50-

SCHEDULE 9
Page 1

SERIES 1987C

SERIES 1987E

SERIES 19888

SERIES 19880

SERIES 1989A

SERIES 19898

6.90%- 7.60% 5.50%- 7.70% 5.75% - 8.40% 7.00%- 8.40% 6.25% - 8.25% 5.50% - 8.00%

$ 49,830,000.00 $ 233,245,000.00 $ 149,495,000.00 $ 165,975,000.00 $ 110,175,000.00 $ 77,000,000.00

20,990,000.00 111 ,515,000.00 28,840,000.00 113,945,000.00

63,565,000.00 60,940,000.00 85,930,000.00 105,035,000.00

62,495,000.00 44,060,000.00

42,205,000.00 29,745,000.00

s _ _ _ _o...o..o... s 7,78s,ooo.oo s _ _ _.o.o..o._s _ _ __.o.o..o.s 3,62o,ooo.oo s s.oso,ooo.oo

May 1

July 1

April1

June 1

April1

July 1

$

0.00 $ 7,785,000.00 $

0.00 $

0.00

$ 2,420,000.00

$ 3,620,000.00

2,630,000.00

s _ _ _ _o...o..o._s 7,785,ooo.oo s _ _ _ _o.,.oo,_s _ _ __.o.o..o._s 3,62o,ooo.oo s s,o50,ooo.oo -51-

OFFICE OF TREASURY AND FISCAL SERVICES DEBT SERVICE FUND
SCHEDULE OF BONDS OUTSTANDING JUNE 30. 1999

Interest Rate Range Original Issue
Less: Bonds Redeemed Bonds Defeased
Bonds Outstanding June 30, 1999

SERIES 1990B

SERIES 1991A

SERIES 1991C

6.25%-7.70% 5.75%-7.70% 5.25%-7.70%

$ 96,845,000.00 $ 226,260,000.00 $ 274,495,000.00

27,490,000.00 56,7451000.00

85,950,000.00 98,810,000.00

72,725,000.00

$ 12,610,000.00 $ 41,500,000.00 $ 201,770,000.00

Maturing
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

November 1

February 1

Apri11

$ 3,900,000.00

4,190,000.00 $ 9,250,000.00 $ 11 ,220,000.00

4,520,000.00

9,960,000.00

12,090,000.00

10,730,000.00

13,020,000.00

11,560,000.00

13,990,000.00

14,700,000.00

16,260,000.00

17,520,000.00

18,870,000.00

20,320,000.00

21 ,880,000.00

23,570,000.00

18,330,000.00

$ 12,610,000.00 $ 41,500,000.00 $ 201,770,000.00

See notes to the financial statements.

-52-

SCHEDULE 9 Page2

SERIES 19910

SERIES 1992A

SERIES 19928

SERIES 19920

SERIES 1993A

SERIES 19938

3.00%- 7.00% 5.80% - 6.30% 5.50% - 6.75% 3.50%- 7.40% 3.45%- 7.45% 3.20%-4.75%

$ 271,735,000.00 $ 169,735,000.00 $ 395,905,000.00 $ 278,710,000.00 $ 64,245,000.00 $ 49,030,000.00

77,730,000.00 29,415,000.00 88,750,000.00 89,895,000.00 26,970,000.00 49,030,000.00

$ 194,005,000.00 $ 140,320,000.00 $ 307,155,000.00 $ 188,815,000.00 $ 37,275,000.00 $

0.00

November 1

March1

March1

August 1

Janua~ 1

$ 10,410,000.00

$

11,150,000.00 $ 13,530,000.00 $ 15,640,000.00

11,930,000.00 11,730,000.00 15,735,000.00

12,520,000.00 13,695,000.00 17,610,000.00

13,660,000.00 15,790,000.00 19,045,000.00

14,640,000.00 20,440,000.00 20,360,000.00

15,670,000.00 21,420,000.00 21,575,000.00

16,780,000.00 18,785,000.00 23,200,000.00

17,960,000.00 24,930,000.00 24,745,000.00

19,220,000.00

26,440,000.00

20,580,000.00

28,220,000.00

17,230,000.00

30,120,000.00

12,255,000.00

31,150,000.00

33,315,000.00

9,960,000.00 10,700,000.00 $ 11,500,000.00 12,360,000.00 13,280,000.00 14,270,000.00 15,300,000.00 15,445,000.00 17,700,000.00 19,020,000.00 20,145,000.00 20,380,000.00 8,590,000.00
165,000.00

$ 2,300,000.00 2,470,000.00 2,650,000.00 2,850,000.00 3,040,000.00 3,250,000.00 3,530,000.00 3,800,000.00 4,080,000.00 4,380,000.00 4,710,000.00
190,000.00 25,000.00

Jul~ 1 0.00

$ 194,005,000.00 $ 140,320,000.00 $ 307,155,000.00 $ 188,815,000.00 $ 37,275,000.00 $

0.00

-53-

OFFICE OF TREASURY AND FISCAL SERVICES DEBT SERVICE FUND
SCHEDULE OF BONDS OUTSTANDING JUNE 30. 1999

Interest Rate Range
Original Issue
Less: Bonds Redeemed Bonds Defeased

SERIES 1993C

SERIES 1993D

SERIES 1993E

2.50% - 6.50% 2.50% - 6.50% 2.40% - 6.00%

$ 254,880,000.00 $ 92,550,000.00 $ 599,820,000.00

79,755,000.00 40,200,000.00 150,475,000.00

Bonds Outstanding June 30, 1999

$ 175,125,000.00 $ 52,350,000.00 $ 449,345,000.00

Maturing
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

July 1

August 1

July 1

$ 8,610,000.00 $ 8, 730,000.00 9,900,000.00 10,420,000.00 11,190,000.00 12,190,000.00 13,070,000.00 14,010,000.00 15,020,000.00 16,100,000.00 14,070,000.00 16,470,000.00 19,505,000.00 2,020,000.00 3,820,000.00

3,130,000.00 $ 3,350,000.00 3,590,000.00 3,850,000.00 4,090,000.00 4,430,000.00 4,750,000.00 5,090,000.00 5,450,000.00 5,850,000.00 6,270,000.00

80,495,000.00 44,820,000.00 49,795,000.00 37,080,000.00 53,370,000.00 61,490,000.00 65,815,000.00 43,840,000.00 12,640,000.00

2,500,000.00

$ 175,125,000.00 $ 52,350,000.00 $ 449,345,000.00

See notes to the financial statements.

-54-

SCHEDULE "9" Page3

SERIES 1993F

SERIES 1994A

SERIES 19948

SERIES 1994C

SERIES 1994D

SERIES 1994E

2.50% - 6.50% 4.00% - 4.80% 2.00% - 5.95% 4.50% - 4.90% 2.80% - 6.80% 3.50% - 6.75%

$ 345,410,000.00 $ 20,040,000.00 $ 215,870,000.00 $ 21,125,000.00 $ 251,390,000.00 $ 104,820,000.00

147,435,000.00 20,040,000.00

53,960,000.00 16,505,000.00 59,050,000.00

15,720,000.00

$ 197,975,ooo.oo $ _ _ _ _o.,.o..,o.,.$ 161,91o,ooo.oo $ 4,62o,ooo.oo $ 192,34o,ooo.oo $ 89,1oo,ooo.oo

December 1
$ 11,670,000.00 $ 12,510,000.00 13,310,000.00 14,380,000.00 15,410,000.00 16,520,000.00 17,710,000.00 18,925,000.00 20,350,000.00 21,820,000.00 23,390,000.00 11,520,000.00
460,000.00

March 1

March1

0.00 $

$ 7,880,000.00 8,350,000.00 8,790,000.00 9,370,000.00 9,930,000.00 10,520,000.00 11,140,000.00 11,800,000.00 12,510,000.00 13,250,000.00 14,040,000.00 14,880,000.00 15,350,000.00 14,100,000.00

August 1

August 1

4,620,000.00 $

8,150,000.00 $ 8, 710,000.00 9,225,000.00 9,930,000.00 10,610,000.00 11,330,000.00 12,100,000.00 12,920,000.00 13,800,000.00 14,740,000.00 15,725,000.00 16,810,000.00 17,960,000.00 19,180,000.00 11,150,000.00

December 1
3,410,000.00 3,640,000.00 3,890,000.00 4,150,000.00 4,430,000.00 4,730,000.00 5,050,000.00 5,390,000.00 5,750,000.00 6,140,000.00 6,560,000.00 7,000,000.00 7,470,000.00 7,980,000.00 8,510,000.00 5,000,000.00

$ 197,975,000.00 $----0-.00--$ 161,910,000.00 $ 4,620,000.00 $ 192,340,000.00 $ 89,100,000.00

-55-

OFFICE OF TREASURY AND FISCAL SERVICES DEBT SERVICE FUND
SCHEDULE OF BONDS OUTSTANDING JUNE 30. 1999

Interest Rate Range
Original Issue
Less: Bonds Redeemed Bonds Defeased
Bonds Outstanding June 30, 1999
Maturing
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

SERIES 1995A

SERIES 1995B

SERIES 1995C

4.75% - 5.85% 3.20%- 7.20% 3.25%- 7.25%

$ 21,840,000.00 $ 328,210,000.00 $ 303,215,000.00

17,210,000.00

82,120,000.00

31,710,000.00

$ 4,630,000.00 $ 246,090,000.00 $ 271,505,000.00

March1

March1

Jul~ 1

$ 9,530,000.00

$ 4,630,000.00 $ 10,340,000.00

10,220,000.00

11,090,000.00 10,090,000.00

11,890,000.00 10,820,000.00

12,740,000.00 11,610,000.00

13,660,000.00 12,450,000.00

14,640,000.00 13,350,000.00

15,700,000.00 14,320,000.00

16,830,000.00 15,360,000.00

18,040,000.00 16,470,000.00

19,340,000.00 17,670,000.00

20,730,000.00 18,950,000.00

22,220,000.00 20,320,000.00

23,830,000.00 20,000,000.00

25,540,000.00 23,380,000.00

4,200,000.00 20,060,000.00

5,300,000.00 26,905,000.00

$ 4,630,000.00 $ 246,090,000.00 $ 271,505,000.00

See notes to the financial statements.

-56-

SCHEDULE 9 Page4

SERIES 19950

SERIES 1996A

SERIES 19968

SERIES 1996C

SERIES 1997A

SERIES 19978

3.25%- 7.25% 4.00%-4.50% 2.25%-6.25% 2.25% - 6.25% 6.00% - 6.25% 4.25% - 4.50%

$ 227,285,000.00 $ 32,220,000.00 $ 397,890,000.00 $ 65,340,000.00 $ 307,195,000.00 $ 16,435,000.00

34,785,000.00 18,470,000.00 53,210,000.00

9,455,000.00 66,835,000.00 2,975,000.00

$ 192,500,000.00 $ 13,750,000.00 $ 344,680,000.00 $ 55,885,000.00 $ 240,360,000.00 $ 13,460,000.00

Se~tember 1

A~ril1

A~ril1

August 1

~ril1

August 1

$ 6,660,000.00

$

7,140,000.00 $ 6,740,000.00 $ 12,630,000.00

7,650,000.00 7,010,000.00 13,420,000.00

8,210,000.00

14,260,000.00

8,810,000.00

15,150,000.00

9,440,000.00

16,1 00,000.00

10,130,000.00

17,1 00,000.00

10,860,000.00

18,170,000.00

11,650,000.00

19,310,000.00

12,490,000.00

20,510,000.00

13,400,000.00

21,790,000.00

14,370,000.00

23,160,000.00

15,410,000.00

24,600,000.00

16,530,000.00

26,140,000.00

10,000,000.00

27,770,000.00

14,355,000.00

29,510,000.00

15,395,000.00

31,360,000.00

13,700,000.00

1,870,000.00 2,000,000.00 $ 2,130,000.00 2,280,000.00 2,430,000.00 2,590,000.00 2,770,000.00 2,950,000.00 3,150,000.00 3,360,000.00 3,590,000.00 3,830,000.00 4,080,000.00 4,360,000.00 4,650,000.00 4,960,000.00 4,815,000.00
70,000.00

$ 9,180,000.00 9,750,000.00 10,360,000.00 11,010,000.00 11,700,000.00 12,430,000.00 13,200,000.00 13,880,000.00 14,900,000.00 15,840,000.00 16,830,000.00 17,880,000.00 19,000,000.00 20,180,000.00 21,440,000.00 22,780,000.00

3,120,000.00 3,280,000.00 3,440,000.00 3,620,000.00

$ 192,500,000.00 $ 13,750,000.00 $ 344,680,000.00 $ 55,885,000.00 $ 240,360,000.00 $ 13.460,000.00

-57-

OFFICE OF TREASURY AND FISCAL SERVICES DEBT SERVICE FUND
SCHEDULE OF BONDS OUTSTANDING JUNE 30. 1999

Interest Rate Range
Original Issue
Less: Bonds Redeemed Bonds Defeased

SERIES 1997C

SERIES 1998A

SERIES 1998B

2.25% - 6.25%

4.05% - 4.25%

1I 75% 0 5.75%

$ 240,440,000.00 $ 26,940,000.00 $ 299,410,000.00

60,420,000.00

46,195,000.00

Bonds Outstanding June 30, 1999

$ 180,020,000.00 $ 26,940,000.00 $ 253,215,000.00

Maturing
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Auaust 1
$ 6,760,000.00 $ 7 ' 180,000.00 7,630,000.00 8, 11 0,000.00 8,620,000.00 9,150,000.00 9,730,000.00 10,330,000.00 10,980,000.00 11 ,670,000.00 12,400,000.00 13,170,000.00 13,990,000.00 14,870,000.00 15,800,000.00 16,780,000.00
350,000.00 2,500,000.00

Jut~ 1

Jut~ 1

4,880,000.00 $ 5,120,000.00 5,380,000.00 5,640,000.00 5,920,000.00

8,360,000.00 8,840,000.00 9,350,000.00 9,890,000.00 10,460,000.00 11 ,060,000.00 11 ,690,000.00 12,370,000.00 12,980,000.00 13,830,000.00 14,620,000.00 15,460,000.00 16,350,000.00 17,290,000.00 18,290,000.00 19,340,000.00 20,450,000.00 21 ,630,000.00
955,000.00

$ 180,020,000.00 $ 26,940,000.00 $ 253,215,000.00

See notes to the financial statements.

-58-

SCHEDULE g PageS

SERIES 1998C

SERIES 19980

SERIES 1998E

1.75%-5.75% 1.25% - 5.25% 3.50% - 5.25%

$ 220,645,000.00 $ 172,610,000.00 $ 142,425,000.00

19,105,000.00 39,370,000.00

3,630,000.00

$ 201,540,000.00 $ 133,240,000.00 $ 138,795,000.00

September 1

Odober 1

February 1

$ 7,460,000.00 $ 7,910,000.00 8,390,000.00 8,890,000.00 9,425,000.00 7,530,000.00 8,000,000.00 8,500,000.00 9,030,000.00 9,590,000.00 10,190,000.00 10,830,000.00 11,510,000.00 12,230,000.00 12,990,000.00 13,800,000.00
14,660,000.00 13,755,000.00 15,850,000.00
1,000,000.00

4,690,000.00 4,970,000.00 $ 5,270,000.00 5,590,000.00 5,920,000.00 6,280,000.00 6,660,000.00 7,060,000.00 7,480,000.00 7,930,000.00 8,400,000.00 8,910,000.00 9,440,000.00 10,010,000.00 10,610,000.00 11,250,000.00 11,920,000.00
850,000.00

18,005,000.00 7,945,000.00 6,265,000.00 9,065,000.00 18,505,000.00 14,575,000.00 15,485,000.00 11,970,000.00 11,430,000.00 11,625,000.00 13,925,000.00

$ 201,540,000.00 $ 133,240,000.00 $ 138,795,000.00

-59-

1986B 1987 B 1987C 1987E 1988B 1988D 1989A 1989B 1990B 1991 A
1991 c
1991 D 1992A 1992B 1992D 1993A 1993 B 1993C 1993D 1993E 1993 F 1994A 1994B 1994C 1994D 1994 E 1995A 1995B 1995C 1995D 1996A 1996B 1996C 1997 A 1997 B 1997C 1998A 1998 B 1998C 1998D 1998E

OFFICE OF TREASURY AND FISCAL SERVICES

SCHEDULE "1 0"

DEBT SERVICE FUND

SCHEDULE OF PRINCIPAL AND INTEREST EXPENDITURES ON GENERAL OBLIGATION BONDS

YEAR ENDED JUNE 30. 1999

PRINCIPAL (BONDS REDEEMED
AT PAR)

INTEREST

TOTAL

$

45,020,000.00 $ 1,519,425.00 $ 46,539,425.00

6,220,000.00

494,260.00

6,714,260.00

2,250,000.00

157,500.00

2,407,500.00

10,560,000.00

870,075.00

11,430,075.00

7,000,000.00

748,650.00

7,748,650.00

7,350,000.00

818,655.00

8,168,655.00

3,340,000.00

633,142.50

3,973,142.50

2,220,000.00

648,265.00

2,868,265.00

3,620,000.00

1,393,570.00

5,013,570.00

8,590,000.00

6,485,022.50

15,075,022.50

10,475,000.00

13,921,478.75

24,396,4 78.75

9,860,000.00

12,714,230.00

22,574,230.00

13,140,000.00

9,228,472.50

22,368,472.50

14,690,000.00

19,612,612.50

34,302,612.50

22,090,000.00

12,706,057.50

34,796,057.50

2,140,000.00

2,657,932.50

4,797,932.50

10,730,000.00

214,600.00

10,944,600.00

8,01 0,000.00

10,088,825.00

18,098,825.00

3,920,000.00

3,287,805.00

7,207,805.00

21,070,000.00

22,208,982.50

43,278,982.50

10,890,000.00

12,899,430.00

23,789,430.00

4,390,000.00

175,600.00

4,565,600.00

7,430,000.00

9,622,440.00

17,052,440.00

4,420,000.00

311,970.00

4, 731,970.00

7,630,000.00

12,493,125.00

20,123,125.00

3,200,000.00

5,959,750.00

9,159,750.00

4,610,000.00

457,390.00

5,067,390.00

25,830,000.00

17,211,640.00

43,041,640.00

8,890,000.00

15,962,415.00

24,852,415.00

10,620,000.00

11,915,112.50

22,535,112.50

6,430,000.00

873,050.00

7,303,050.00

11,890,000.00

20,1 08,535.00

31,998,535.00

1,760,000.00

3,439,010.00

5,199,01 0.00

8,790,000.00

15,505,550.00

24,295,550.00

2,975,000.00

646,787.50

3,621, 787.50

8,610,000.00

11,154,375.00

19,764,375.00

0.00

562,395.00

562,395.00

46,195,000.00

7,030,887.50

53,225,887.50

19,105,000.00

5,254,637.50

24,359,637.50

39,370,000.00

3,492,237.50

42,862,237.50

3163o.ooo.oo

1.139.093.74

4.769.093.74

$

448,960,000.00 $ 276,624,992.49 $ 725,584,992.49

See notes to the financial statements.

-60-

OFFICE OF TREASURY AND FISCAL SERVICES FIDUCIARY FUND TYPE -AGENCY FUNDS
ANALYSIS OF PAYMENTS TO COUNTIES OF EARNINGS ON FEDERAL LANDS PAYMENTS TO STATES IN LIEU OF REAL ESTATE TAXES YEAR ENDED JUNE 30. 1999

SCHEDULE "11"

COUNTY
Bartow Cherokee Cobb Columbia Dawson Decatur Forsyth Franklin Gilmer Gwinnett Hall Hart Lincoln McDuffie Seminole Troup

50% SCHOOLS
$ 46,599.94 $ 94,974.59 10,364.25 391.87 11,578.12 2,504.74 47,222.95 1,875.00 2,241.90 11,249.99 214,074.76 11,435.62 8,797.08 1,337.80 752.21 81788.17

50% ROADS

TOTAL TO COUNTIES

46,599.95 $ 94,974.59
10,364.~5
391.88 11,578.13 2,504.75 47,222.96 1,875.00 2,241.90 11,249.99 214,074.76 11,435.62 8,797.08
1,337.80 752.21
8l88.17

93,199.89 189,949.18 20,728.50
783.75 23,156.25
5,009.49 94,445.91 3,750.00 4,483.80 22,499.98 428,149.52 22,871.24 17,594.16 2,675.60
1,504.42 171576.34

$ 474,188.99 $ 474,189.04 $ 948,378.03

The distribution of$ 948,378.03 represents 75% of the receipts from the leasing of land acquired by the United States Department of Defense, Army Corps of Engineers for the fiscal year ended September 30, 1998 for flood control, navigation and allied purposes.

See notes to the financial statements.

-61-

OFFICE OF TREASURY AND FISCAL SERVICES FIDUCIARY FUND TYPE- AGENCY FUNDS
ANALYSIS OF PAYMENTS TO COUNTIES OF EARNINGS ON FEDERAL LANeS SCHOOLS AND ROADS- GRANTS TO STATES YEAR ENDED JUNE 30. 1999

FOREST Chattahoochee
Total Chattahoochee Forest Oconee
Total Oconee Forest

COUNTY
Banks Catoosa Chattooga Dawson Fannin Floyd Gilmer Gordon Habersham Lumpkin Murray Rabun Stephens Towns Union Walker White Whitfield
Greene Greene Jasper Jasper Jones Jones Monroe Monroe Morgan Morgan Oconee Oconee Oglethorpe Oglethorpe Putnam Putnam

NET-FOREST AREA ACRES

50% SCHOOLS

50% ROADS

TOTAL TO COUNTIES

650 $ 119.61 $ 119.61 $ 239.22

6

1.10

1I 11

2.21

19,390

3,568.07

3,568.08

7,136.15

6,760

1,243.95

1,243.95

2,487.90

106,104 19,524.86 19,524.86 39,049.72

6,621

1,218.37

1,218.37

2,436.74

54,352 10,001.65 10,001.66 20,003.31

8,076

1 ,486.11

1,486.12

2,972.23

39,873

7,337.28

7,337.28

14,674.56

56,942 10,478.25 10,478.26 20,956.51

51,354

9,449.97

9,449.97

18,899.94

148,798 27,391.00

27,391.01

54,782.01

23,304

4,288.31

4,288.32

8,576.63

57,538 10,587.92 10,587.93 21,175.85

97,863 18,008.38 18,008.39 36,016.77

18,844

3,467.60

3,467.60

6,935.20

41,258

7,599.32

7,599.32

15,198.64

11 719

2,156.49

2,156.50

4,312.99

749,452 $ 137,928.24 $ 137,928.34 $ 275,856.58

27,701 $ 29,696 16,302
250 429 157 3,762 37,189

6,291.07 $ 12.86
6,744.14 13.80
3,702.28 7.56
56.77 0.12
97.43 0.20
35.66 0.07
854.37 1.75
8,445.85 17.27

6,291.07 $ 12,582.14

12.88

25.74

6,744.15 13,488.29

13.80

27.60

3,702.29

7,404.57

7.58

15.14

56.78

113.55

0.12

0.24

97.43

194.86

0.20

0.40

35.66

71.32

0.08

0.15

854.38

1,708.75

1.75

3.50

8,445.85 16,891.70

17.28

34.55

115,486 $ 26,281.20 $ 26,281.30 $ 52,562.50

Grand Total

The payments of $328,419.08 consist of $328,311.76 which
represents 25% of the Schools and Roads - Grants to States
receipts from the United States Department of Agriculture for fiscal year ended September 30, 1998, and $107.32 which represents 25% of the Subservice Leasing Revenues receipts from the United States Department of Interior for the fiscal year ended September 30, 1998. The distribution of$328,311.76 is based upon the National Forest Area-Aaes by counties located in the Chattahoochee and Oconee National Forests as furnished by the United States Department of Agriculture, Forest Service. The above amounts are prorated 50% for schools and 50% for roads in each county.

See notes to the financial statements.

-62-

864,938 $ 164,209.44 $ 164,209.64 $ 328,419.08

OFFICE OF TREASURY AND FISCAL SERVICES

SCHEDULE "13"

FIDUCIARY FUND TYPE- AGENCY FUNDS

ANALYSIS OF PAYMENTS TO COUNTIES OF EARNINGS ON MILITARY INSTALLATIONS

TIMBER PROCEEDS FUND

YEAR ENDED JUNE 30. 1999

COUNTY
Bryan Clayton Evans Houston Lanier Liberty Long Lowndes Tattnall

50% SCHOOLS
$ 47,524.55 $ 16,397.17 7,311.47 25,284.94 147.33 51,180.28 12,185.78 90.30 31655.73

50% ROADS

TOTAL TO COUNTIES

47,524.55 $ 16,397.17
7,311.47 25,284.95
147.33 51,180.29 12,185.79
90.30 31655.73

95,049.10 32,794.34 14,622.94 50,569.89
294.66 102,360.57 24,371.57
180.60 71311.46

$ 163,777.55 $ 163,777.58 $ 327,555.13

The total payments of $327,555.13 represent 40% of the net proceeds of the timber sales receipts from the United States Department of Defense for the Federal fiscal year ended September 30, 1998. Georgia Law (O.C.G.A. Section 36-80-15) requires that amounts be prorated 50% for schools and 50% for the roads in each county.

See notes to the financial statements.

-63-

OFFICE OF TREASURY AND FISCAL SERVICES FIDUCIARY FUND TYPE -AGENCY FUNDS
ANALYSIS OF PAYMENTS TO COUNTIES OF SALE OF FEDERAL LANDS SALE OF PUBLIC LAND
YEAR ENDED JUNE 30. 1999

SCHEDULE "14"

COUNTY Pike

50% SCHOOLS

50% ROADS

TOTAL TO COUNTIES

$==----=1.5=0=$~----=1.=50=$-=====~3.00=

The distribution of $3.00 represents 4% of the gross receipts from the sale of public land from the United States Department of Interior- Bureau of Land Management for the Federal fiscal year ended September 30, 1998. Public Law 102-381 (106 Stat. 1376) requires that these funds be used for schools and roads.

See notes to the financial statements.

-64-

SECTION II STATISTICAL SECTION TEN YEAR HISTORICAL SUMMARY OF SELECTED FINANCIAL DATA
GENERAL FUND

OFFICE OF TREASURY AND FISCAL SERVICES TEN YEAR HISTORICAL SUMMARY OF SELECTED FINANCIAL DATA
GENERAL FUND UNRESERVED SURPLUS BALANCES

For the Year Ended June 30 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999

$

0.00

$

0.00

$

0.00

$

0.00

$

0.00

$ 11,842,516.21

$ 216,436,924.65

$ 524,974,958.28

$ 543,948,043.44

$ 702,809,459.99

- 1-

OFFICE OF TREASURY AND FISCAL SERVICES TEN )'EAR HISTORICAL SUMMARY OF SELECTEQ FINANCIAL DATA
GENERAL FUND FUNDS AVAILABLE AND EXPENDITURES

FUNDS AVAILABLE
Revenues: State Revenue Collections
Department of Medical Assistance Indigent Care Trust Fund
Georgia World Congress Center Consulting Fees
Lottery for Education Lottery Proceeds Interest Earned
U. S. Department of Energy Grants
U. S. Department of Treasury Reimbursements for CMIA
EXPENDITURES
Operating Allotments State Funds Lottery for Education
Debt Retirement Allotments
Surplus Funds Lapsed State Funds Lottery for Education Total Allotments
Excess of Revenues over Expenditures State Funds
Excess of Expenditures over Revenues State Funds

YEAR ENDED JUNE 3011990

YEAR ENDED JUNE 30, 1991

YEAR ENDED JUNE 3011992

YEAR ENDED JUNE 3011993

$ 7'196,336,132.42 $ 7,295,236,287.33 $ 7,452,615,506.95 $ 8,346,376,907.39

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

16,621.19

63,386.62

33,354.91

34,221.94

0.00

0.00

0.00

0.00

$ 7,196,352,753.61 $ 7,295,2991673.95$ 7,452,648,861.86$ 81346,411,129.33

$ 7,256,119,310.00 $ 7,170,936,098.15 $ 7,167,840,773.29 $ 7,848,749,339.31

0.00

0.00

0.00

0.00

353,931,706.00 336,612,362.00 356,224,021.00 398,866,359.00

-45,344,996.71 -189,617,661.35

_ _ _ _..;::0;.:,::.0=0

0.00

-75,682,427.17 0.00

-66,468,094.n 0.00

$ 7,564,706,019.29 $ 7,317,930,798.80 $ 7,448,382,367.12 $ 8,181,147,603.54

0.00

0.00

4,266,494.74 165,263,525.79

-368,3531265.68 -2216311124.85

0.00

0.00

$ 7,196,352.753.61 $ 71295,299,673.95 $ 7.452,648,861.86 $ 8,346,4111129.33

-2-

YEAR ENDED JUNE 30, 1994

YEAR ENDED JUNE 30, 1995

YEAR ENDED JUNE 30, 1996

YEAR ENDED JUNE 30, 1997

YEAR ENDED JUNE 30, 1998

CURRENT YEAR ENDED JUNE 30, 1999

$ 8,906,515,809.25 $ 9,625,658,474.56 $ 10,446,184,458.90 $ 11,131,393,549.40 $ 11,718,182,319.49 $ 12,696,1 09,796.09

140,440,391.00

163,033,326.00

162,177,246.00

180,808,601.00

194,125,743.00

181,164,882.00

150,000.00

0.00

0.00

0.00

0.00

0.00

360,000,000.00 2,420,742.77

503,063,016.03 11 ,818,244.05

543,233,898.00 15,239,988.68

581,438,726.00 12,189,122.68

555,072,000.00 11,222,881.54

646,705,000.00 15,936,824.92

35,147.72

36,126.71

36,669.40

86,747.93

38,105.96

39,021.10

0.00

361320.57

530.00

226.00

311.00

482.00

$ 9,409,562,090.74 $ 10,303,645,507.92 $ 11 1166,872,790.98 $ 11,9051916,973.01 $ 12,478,641,360.99 $ 1315391956,006.11

$ 8,489,810,968.38 $ 9,290,325,468.63 $ 9,982,932,292.50 $ 10,501,251,087.00 $ 11,375,472,304.65 $ 12,1 05,902,779.00

222,779,742.00

471,949,238.00

475,582,741.00

679,819,448.00

601,923,390.00

591 ,983,340.00

456,487,573.00

481,730,435.00

524,313,203.00

621 ,465,791.00

596,125,028.00

562,616,689.00

-56,157,113.92 0.00

-74,433,281.67 -511621092.23

-101,084,530.28 -7z139z154.20

-171,159,790.68 -917361898.27

-83,901 ,853.03 -17,0541052.82

-71 ,062,796.40 -1519021477.21

$ 9,112,921,169.46 $ 10,164,409,767.73 $ 10,874,023,952.02 $ 11,621,639,637.05 $ 12,472,564,816.80 $ 13,173,537,534.39

296,640,921.28

139,235,740.19

292,848,838.96

284,277,335.96

6,076,544.19

366,418,471.72

0.00

0.00

0.00

0.00

0.00

0.00

$ 9,4091562,090.74 $ 10,303,645,507.92 $ 111166,872,790.98 $ 11,905,916,973.01 $ 12,478,641,360.99 $ 13,539,956,006.11

-3-

OFFICE OF !REASURY AND FISCAL SERVICES TEN YEAR HISTORICAL SUMMARY OF SELECTED FINANCIAL DATA
GENERAL FUND REVENUE BY CATEGORY

YEAR ENDED JUNE 30, 1990

YEAR ENDED JUNE 30, 1991

YEAR ENDED JUNE 30, 1992

YEAR ENDED JUNE 30, 1993

SOURCE

Taxes: Alcoholic Beverage Tax Cigar and Cigarette Tax Income Tax Inheritance Tax Insurance Premium Tax and Fees Malt Beverage Tax Motor Fuel Tax Motor Vehicle Ucense Tax Property Tax - General and Intangible Property Tax- Utility Sales and Use Tax - General Sales and Use Tax- Motor Fuel Wine Tax

$ 37,986,598.31 $ 35,529,930.86 $ 36,082,017.95 $ 32,946,773.19

87,323,399.36

85,220,156.90

84,203,295.83

84,887,393.42

3,364,505,127.12 3,379,752,362.66 3,478,393,275.30 3,879,855,674.21

27,616,177.24

41,261,832.31

37,583,865.45

39,103,940.78

169,904,624.16

188,843,531.80

166,826,828.57

179,667,771.45

65,161,859.12

66,268,864.42

65,950,468.51

67,636,247.48

330,660,033.29

327,672,419.41

335,685,261.07

348,748,461.71

79,481,650.74

78,734,236.18

84,134,860.35

176,065,978.36

23,114,791.34

24,800,513.70

26,584,462.59

30,455,680.06

727,018.58

51,004.15

153,883.91

198,309.39

2,629,365,356.71 2,647,304,866.94 2,676,586,676.75 2,969,243,000.94

110,391,509.09

123,497,574.97

114,848,864.23

119,212,062.15

15,711,056.62

14,963,059.17

15,079,826.64

14,095,742.89

Total Taxes

$ 6,941 ,949,201.68 $ 7,013,900,353.47 $ 7,122,113,587.15 $ 7,942,117,036.03

Departmental Regulatory Fees and Sales:

Administrative Services, Department of

Rents on Properties and Sales

$

Agriculture, Department of

Audits and Accounts, Department of

Banking and Finance, Department of

Corrections, Department of

Education, Department of

General Assembly of Georgia

GeorgiaNet Authority

Governor, Office of the

Human Resources, Department of

Insurance, Department of

Investigation, Georgia Bureau of

Judicial Branch

Labor, Department of

Law, Department of

Medical Assistance, Department of

Natural Resources, Department of

Game and Fish

Other

Pardons and Paroles, State Board of

Public Safety, Department of

Public Service Commission

Regents of the University System of Georgia, Board of

Revenue, Department of

Education Local Option Sales Tax Collection Cost

Homestead Option Sales Tax Collection Cost

Local Option Sales Tax Collection Cost

MARTA Tax Collection Cost

Peace Officer and Prosecutor Training

Fund Fees

Public Service Corporation Assessments

Railroad Csr Tax Collection Cost

Real Estate Transfer Tax Collection Cost

Special Purpose Tax Collection Cost

Other

6,245,649.02 $ 5,118,058.85 1,630,598.20 5,806,786.55
641,799.56 253,818.00
56,377.83 0.00
157,891.80 18,386,826.20 2,625,511.23
211,880.63 252,758.38 14,335,136.33
4,818.85 928,925.62
15,929,914.44 1,515,868.27 1,069,322.56
21,461,061.17 2,981 p 163,00 378,207.75
o.oo
0.00 4,748,309.58 1,673,969.92
12,119,551.90 850,000.00 3,803.31 119,143.96
2,876,638.42 8,955,173.10

11,735,240.13 $ 5,824,949.34 1,970,872.82 7,291 ,911.59
628,601.78 587,411.77 69,116.25
0.00 547,728.50 20,542,164.48 2,866,873.97 245,760.40 268,512.28 14,730,185.19 183,887.26 37,968,832.85
16,027,718.24 1,868,552.18 1,320,910.91
14,999,948.19 2,929,509.00
654,520.47
0.00 0.00 4,728,873.40 1,697,832.52
12,242,651.62 2,070,979.34
18,039.47 104,540.51 3,058,094.95 12,405,867.81

17,440,273.79 $ 5,981,477.06 1,535,326.61 7,532,922.40
788,310.97 0.00
71,731.04 0.00
1,357,497.27 20,751,649.81
1,811,955.36 211,597.50 448,652.43
15,745,313.04 4,035.00
97,113,918.12
18,014,493.81 2,164,931.51 1,378,752.21 19,773,176.16 3,352,543.00
347,407.14
0.00 0.00 4,794,332.35 1,687,031.91
13,401,832.26 1,019,735.57 35,245.34 94,761.03 3,449,028.38
12,583,185.65

22,194,423.56 6,230,884.98 1,288,419.97 8,038,047.00 852,421.49 0.00 70,282.53 0.00 1,076,154.88
22,972,802.78 5,053,407.77 332,875.01 454,272.10 16,711,305.58 212,351.81
96,879,201.97
19,795,567.35 9,126,487.63 1,081,483.48 35,066,784.72 4,991,812.00
281,164.81
0.00 0.00 5,293,689.75 1,831,765.81
13,967,701.12 1,072,352.46 44,801.17 113,017.22 3,440,213.41
37,436,218.64

-4-

YEAR ENDED JUNE 3011994

YEAR ENDED JUNE 3011995

YEAR ENDED JUNE 3011996

YEAR ENDED JUNE 3011997

YEAR ENDED JUNE 3011998

CURRENT YEAR ENDED JUNE 3011999

$ 2812151576.97 $ 8016551967.00
4113017241466.76 8718081192.02 19817731185.49 7015381228.87 36815481412.56 20317241387.91 32,2501643.53 361162.86
3,25419691605.38 11918071584.93 1413771805.22

3015801188.13 $ 9119381104.13 4151019041988.63 7316071281.74 19518231332.11 7114401716.23 383,2581346.84 20717771395.38 3118701896.13
422.35 3150619391197.00
13815951243.62 1513161520.21

3314191645.78 $ 8518191502.52 419601148,235.46 6615381070.93 20511591192.66 7318061071.32 39711621285.01 20810131023.50 3413251723.37
351476.21 3181115841749.05
13910871376.22 1618431048.23

3419791287.21 $ 9113641382.10 5148416181471.13 6012951855.97 221 17271965.63 7510021144.05 38917841598.43 20312401906.40 3616091529.14
211648.45 3190312861787.32
16319031419.40 171366?84.21

3513811983.71 $ 8913301714.39 6111414061864.87 8418081641.83 22319071993.42 7518171991.37 40816831930.90 17012571457.77 3714021306.05
421469.61 3185918031736.65
14610411734.75 1812781223.13

3519231211.48 9211531742.87 6151319301191.05 11111921261.63 2301461 1623.76 8015261315.99 42917031290.80 21716071546.17 4214291441.09
81728.60 4129710501926.82
13519991623.42 1818861226.40

$ 8159014301219.50 $ 9125810521632.50 $ 10103119421400.26 $ 1016821201?79.44 $ 11126411641048.45 $ 12120518731130.08

$ 2214221528.19 $ 614101887.71 1 15291421.22 911291692.50 919871433.81 0.00 971575.30 0.00 110131547.93 3112921869.47 514391702.83 4151721.05 5001100.25 1715811363.51 171482.09 4121707.81
2015511514.07 151541 1637.92
7731144.11 3718681793.78
1 15031233.00 3351089.48
0.00 0.00 518021488.17 210041945.39
141370,268.42 114921131.77 591607.59 1271516.13 410341099.50
2117651481.04

1913711267.21 $ 613191148.54 216041445.00 1011211854.05 11 18091259.80
0.00 761020.56
0.00 110831552.75 2412121700.57 513691549.32
1751593.35 5221997.87 1911301394.09 113701827.88 7431366.23
2010091510.65 1716341193.27
6371705.93 3612791403.78
516341904.30 2731241.46
0.00 0.00 616231856.42 21247,225.31
1417081435.85 9901610.68 29,221.94 7741649.33
417641391.96 2711831711.20

613341743.48 $ 610871526.67 114331163.03 1012951145.36 1312591557.59
0.00 751422.02 1410001000.00 110741713.18 2814931927.42 311881632.58 2031509.17 5321377.25 1919991764.86
11301.00 2541679.96
1917931527.43 1811831942.83
7491342.27 3319971128.43 31844,243.00
3361531.84
0.00 0.00 711991608.02 215421099.58
1518201891.02 1 12891645.69 301024.47 1591454.30 516651309.15
6015981748.56

712701952.06 $ 613851692.90 217841141.48 101551 1327.42 1318871773.43
11000.00 961861.76 1415001000.00 110241910.88 3017491914.01 312791185.03 2471421.38 4201442.56 2014901428.81 181486.28 41731.98
2016481476.46 2412351242.98
8451055.78 3517491762.99 31184,268.00
3781535.25
0.00 0.00 716101071.57 215871587.82
1619591997.65 1 15231325.02
0.00 1901021.51 516311981.10 4319171397.48

817031272.92 $ 612281601.56 213191742.20 1115931564.16 1411371170.93
21311.00 971376.54 1615001000.00 11271 1558.40 2413411049.65 410251869.39 211580.00 4581262.93 201449,274.37 1111434.00
0.00
2015341562.79 2011331067.53
920,260.28 3811041075.70 315961373.73
2161083.90
517261806.83 5881581.87
714431707.57 216001214.79
1813951768.10 3791930.59 321807.04 2121666.38 .
614361952.38 1013351960.13

11 12951591.38 614031947.11 210691634.64 1212991576.38 1417621265.69
0.00 361503.03 1615001000.00 1 10671543.69 2519301619.01 411151926.72 351181.44 4401879.81 2119461767.13
227.08 0.00
21 16221625.69 1815321668.23
9551598.94 4013051462.51
317191746.00 2051589.77
910331368.82 8031895.88
813651577.48 216861729.71
1913731457.48 111371059.85 0.00 2621018.36 717131084.89
2010811817.58

-5-

OFFICE OF TREASURY AND FISCAL SERVICES TEN YEAR HISTORICAL SUMMARY OF SELECTED FINANCIAL DATA
GENERAL FUND REVENUE BY CATEGORY

YEAR ENDED JUNE 30, 1990

YEAR ENDED JUNE 30, 1991

YEAR ENDED JUNE 30, 1992

YEAR ENDED JUNE 30, 1993

SOURCE

Departmental Regulatory Fees and Sales: Secretary of State General Office and Other Fees Corporation Fees Examining Board Fees Securities Dealers' Fees Qualifying Fees Soil and Water Conservation Commission, State Student Finance Commission, Georgia Transportation, Department of Treasury and Fiscal Services, Office of (Formerly Department of Administrative Services Fiscal Division) Dividends on Stock Interest on Deposits Other Workers' Compensation, State Board of
Total Regulatory Fees and Sales
Total Remittances by Collecting Units of the State

$

102,697.11 $

5,289,422.55

9,473,712.09

3,582,363.02

0.00

7,910.00

0.00

920.00

99,979.73 $ 5,051,220.89 9,755,541.49 3,145,571.32
73,795.95 14,390.00
0.00 120.00

112,764.08 $ 5,282,910.45 13,516,134.89 3,349,387.34
800.00 105.00 2,950.00 1,020.00

296,510.45 5,659,148.24 13,572,255.42 3,782,775.53
0.00 0.00 145,509.17 0.00

8,378.24 95,931,662.67
785,329.51 7,865,571.12
$ 254,386,930.74 $

8,864.61 74,508,254.85
894,773.63 8,1931334.17
281,3351933.86 $

9,506.08 46,267,673.71
713,004.77 8,3541546.76
3301501 1919.80 $

10,956.16 54,948,043.93
863,435.17 9,071,326.29
4041259,871.36

$ 71196,336,132.42 $ 7,295,2361287.33 $ 7,452,615,506.95 $ 8,346,376,907.39

Federal Revenue

Payments in Ueu of Taxes

$

Reimbursement for Petroleum Violation Escrow Funds

Reimbursement of Expenditures

16,621.19 $ 0.00 0.00

63,386.62 $ 0.00 0.00

33,354.91 $ 0.00 0.00

34,221.94 0.00 0.00

Total Federal Revenue

$

161621.19 $

63,386.62 $

331354.91 $

34,221.94

Other Revenues Retained: Department of Medical Assistance Indigent care Trust Fund Georgia Lottery Commission Lottery Proceeds Interest Eamed Other

$

0.00 $

0.00 $

0.00 $

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

Total Other Revenues Retained

$

0.00 $

0.00 $

0.00 $

0.00

Total Revenues

$ 7,196,352:153.61 $ 7,295,299,673.95 $ 7,452,648,861.86 $ 8,346,411,129.33

6

YEAR ENDED JUNE 30, 1994

YEAR ENDED JUNE 30, 1995

YEAR ENDED JUNE 30, 1996

YEAR ENDED JUNE 30, 1997

YEAR ENDED JUNE 30, 1998

CURRENT YEAR ENDED JUNE 30, 1999

$

266,989.05 $

6,214,949.14

14,692,411.49

4,938,2n.64

0.00

0.00

360,180.n

0.00

283,092.42 $ 6,993,488.01 15,018,854.39 4,849,711.46
154,256.12 0.00
292,470.41 1,020.00

142,413.01 $ 7,511,941.75 16,526,369.38 5,227,432.28
0.00 0.00 217,868.79 0.00

189,113.64 $ 8,200,080.45 16,004,118.00 5,902, 766.34
234,499.50 0.00
243,852.16 1,000.00

141,663.56 $ 9,972,589.05 17,610,612.64 6,715,923.68
109,n9.03 0.00
318,338.38 0.00

127,737.68 9,196, 723.65 15,740,466.28 6,990,659.88
9,569.00 0.00
284,552.48 0.00

12,889.60 44,795,155.43
2,974,541.06 9,349,211.53
$ 31610851589.75 $

11,117.28 88,179,143.60
1,197,703.39 9,922,945.68
367,605,842.06 $

16,756.48 97,118,295.98
1,728,543.18 10,30714n.63
414,242,058.64 $

18,689.92 132,532,068.89
116,529.73 1015741057.74

22,234.56 161,957,307.17
603,737.56 10,6471197.75

28,679.36 174,264,813.17
537,789.27 11,352,310.94

4491191l69.96 $ 4541018,271.04 $ 49012361666.01

$ 81906,515,809.25 $ 9,625,658,474.56 $ 10,4461184,458.90 $ 111131,393,549.40 $ 11l18,182,319.49 $ 1216961109l96.09

$

35,147.72 $

0.00

0.00

$

35,147.72 $

36,126.71 $ 0.00
361320.57
72,447.28 $

36,669.40 $ 0.00
530.00
37,199.40 $

37,318.51 $ 49,429.42
226.00
861973.93 $

38,105.96 $ 0.00
311.00
381416.96 $

39,021.10 0.00
482.00
391503.10

$ 140,440,391.00 $
360,000,000.00 2,420,742.n 1501000.00
$ 503,0111133.77 $

s 163,033,326.00 $ 162,1n,24&.oo

503,063,016.03 11,818,244.05 0.00
s 6 n1914 1586.08

543,233,898.00 15,239,988.68 0.00
72016511132.68 $

180,808,601.00 $ 194,125,743.00 $ 181,164,882.00

581,438,726.00 12,189,122.68 0.00
s n414361449.68

555,072,000.00 11,222,881.54 0.00
76014201624.54 $

646,705,000.00 15,936,824.92 0.00
84318061706.92

$ 9,409,562,090.74 $ 10,303,645,507.92 $ 11,166,872,790.98 $ 11,905,916,973.01 $ 12,478,641,360.99 $ 13,539,956,006.11

-7-

OFFICE OF TREASURY AND FISCAL SERVICES TEN YEAR HISTORICAL SUMMARY OF SELECTED FINANCIAL DATA
GENERAL FUND APPROPRIATION ALLOTMENTS

OPERATING ALLOTMENTS
Legislative Branch General Assembly of Georgia State Funds Audits and Accounts, Department of State Funds
Judicial Branch State Funds Supreme Court of Georgia State Funds Court of Appeals of Georgia State Funds Superior Courts of Georgia State Funds Juvenile Court Judges, Council of State Funds Continuing Judicial Education, Institute of State Funds Judicial Council State Funds Judicial Qualifications Commission State Funds Indigent Defense Council, Georgia State Funds Georgia Courts Automation Commission State Funds
Executive Branch Administrative Services, Department of State Funds Agriculture, Department of State Funds Banking and Finance, Department of State Funds Community Affairs, Department of State Funds Corrections, Department of State Funds Defense, Department of State Funds Education, Department of State Funds Lottery for Education Employees' Retirement System State Funds Financing and Investment Commission, Georgia State State Funds Forestry Commission, Georgia State Funds

YEAR ENDED JUNE 30, 1990

YEAR ENDED JUNE 30, 1991

YEAR ENDED JUNE 30, 1992

YEAR ENDED JUNE 30, 1993

$ 20,691 ,253.00 $ 21 ,267,906.00 $ 21 ,863,995.00 $ 22,674,129.00

13,883,971.00

15,032,258.00

14,837,504.00

14,920,434.00

0.00

0.00

0.00

0.00

4,370, 711.00

4,532, 793.00

4,428,844.00

4,893,172.00

5,189,527.00

5,696,903.00

5,429,894.00

5,593,669.00

38,733,929.00

40,750,121.00

41 ,434,271.00

45,049,233.00

396,740.00

833,373.00

814,190.00

847,005.00

588,136.00

584,242.00

592,000.00

634,322.00

1,831,781.00

1 ,970,599.00

1 ,892,238.00

2,061,454.00

111,783.00

124,316.00

122,704.00

139,258.00

999,635.00

996,945.00

1,003,292.00

1 ,009,958.00

0.00

0.00

0.00

0.00

36,522,238.00

33,548,317.00

30,364,161.00

32,786,322.00

41,651,183.00

38,270,848.00

34,815,933.00

35,991 '169.00

6,030,906.00

6,676,283.00

6,495,285.00

7,153,017.00

22,843,n6.oo

15,602,688.00

13,213,572.00

14,712,141.00

491 ,964,515.00

430,472,821.00

435,739,212.00

493,082,121.00

8,289,763.00

8,663,279.00

5,152,715.00

3,982,403.00

2,n9,235,288.oo 0.00

2,843,904,052.00 0.00

2,n3,465,929.oo 0.00

3,072,613,091.00 0.00

0.00

0.00

0.00

250,000.00

0.00 36,524,699.00

700,000.00 33,n6,538.oo

0.00 31,501,008.00

0.00 31,666,436.00

-8-

YEAR ENDED JUNE 30, 1994

YEAR ENDED JUNE 30, 1995

YEAR ENDED JUNE 30, 1996

YEAR ENDED JUNE 30, 1997

YEAR ENDED JUNE 30, 1998

CURRENT YEAR ENDED JUNE 30, 1999

$ 22,n5,363.oo $ 15,628,386.00 0.00 5,218,309.00 5,819,886.00 47,558,332.00 911,803.00 647,450.00 2,389,352.00 146,228.00 1 ,000,000.00 0.00

24,203,650.00 $ 17,463,512.00
0.00 5,433,395.00 6,269,416.00 49,854,885.00 1 ,023,530.00
652,490.00 1 ,629,442.00
188,808.00 2,000,000.00 1,244,331.00

25,617,738.00 $ 18,664,008.00 78,574,681.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

26,278,571.00 $ 20,205,494.00 83,819,244.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

27,168,900.00 $ 20,214,774.00 90,895,360.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

27,801,978.00 23,623,583.00 100,960,794.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

34,799,338.00 38,155,651.00
8,082,420.00 22,161,949.00 564,573,860.00 4,111,508.00 3,235,446,636.00 146,254,230.00
165,570.00

36,887,024.00 40,207,493.00
8,614,966.00 38,903,005.00 645,362,073.00
5,212,180.00 3,503,688,944.00
230,388,874.00 2,880,000.00

41 ,921 ,650.00 41 ,543,571.00
9,237,n8.oo 41 ,238,924.00 682,256,216.00
4,694,610.00 3,n6,432,876.oo
202,136,245.00 0.00

41 ,426,6n.oo 41 ,505,800.00
9,231,823.00 49,730,231.00 677,061 ,605.00
4,235,851.00 4,110,148,575.00
348,231 '780.00 0.00

54,629,301.00 41 ,946,664.00
9,242,238.00 46,229,803.00 701,369,704.00
4,989,144.00 4,508,630,410.00
357,532,088.00 0.00

69,265,951.00 49,339,795.00
9,846,715.00 37,642,917.00 785,893,797.00
5,591,747.00 4,827,691,716.00
323,135,972.00 673,425.00

0.00 33,506,709.00

0.00 34,964,307.00

0.00 35,970,488.00

0.00 35,616,549.00

0.00 35,106,578.00

0.00 37,956,600.00

-9-

OFFICE OF TREAURY AND FISCAL SERVICES TEN YEAR HISTORICAL SUMMARY OF SELECTED FINANCIAL DATA
GENERAL FUND APPROPRIATION ALLOTMENTS

YEAR ENDED JUNE 30, 1990

YEAR ENDED JUNE 30, 1991

YEAR ENDED JUNE 30, 1992

YEAR ENDED JUNE 30, 1993

OPERATING ALLOTMENTS

Executive Branch

Governor, Office of the

State Funds

$

Lottery for Education

Grants

State Funds

To Counties for Public Purposes

To Counties for Roads

To Municipalities

Guaranteed Revenue Debt Common Reserve Fund,

State of Georgia

State Funds

Human Resources, Department of

State Funds

Industry, Trade and Tourism, Department of

State Funds

Insurance, Department of

State Funds

Investigation, Georgia Bureau of

State Funds

Juvenile Justice, Department of (Formerly Department

of Children and Youth Services)

State Funds

Labor, Department of

State Funds

Law, Department of

State Funds

Medical Assistance, Department of

State Funds

Natural Resources, Department of

State Funds

Pardons and Paroles, State Board of

State Funds

Personnel Board, State - Merit System of

Personnel Administration

State Funds

Public Safety, Department of

State Funds

Public School Employees' Retirement System

State Funds

Public Service Commission

State Funds

Public Telecommunications Commission, Georgia

State Funds

Regents of the University System of Georgia,

Board of

State Funds

Lottery for Education

Removal of Hazardous Materials, Agency for

State Funds

19,001 ,942.00 $ 0.00

16,690,748.00 $ 0.00

18,132,293.00 $ 0.00

22,305,156.00 0.00

2,600,000.00

1 ,300,000.00

0.00

0.00

9,317,013.00

4,658,507.00

0.00

0.00

4,517,000.00

6,758,500.00

0.00

0.00

0.00

0.00

9,630,000.00

995,003,367.00 1,029,211 ,653.00 1,007,073,524.00

18,917,512.00

16,879,481.00

15,180,616.00

12,143,366.00

13,079,103.00

12,209,548.00

33,643,266.00

35,908,707.00

34,616,976.00

0.00 972,324,283.00
16,085,790.00 14,143,756.00 36,27 4,217.00

0.00 16,437,843.00 8,683,803.00 527,376,477.00 86,895,164.00 29,323,214.00

0.00 17,399,923.00 8,802,962.00 625,767,332.00 70,034,568.00 33,741,340.00

0.00

77,947,283.00

16,078,782.00

16,460,582.00

8,380,744.00

8,835,233.00

874,857,466.00 1,043,389,741.00

61,815,633.00

59,7 48,086.00

33,762,203.00

35,371 ,233.00

35,542,225.00 91,742,502.00 13,915,342.00
7,699,779.00 7,211 ,443.00

95,000.00 94,532,683.00
9,537,043.00 7,124,441.00
0.00

0.00 89,612,164.00 9,851,433.00 6,816,625.00
0.00

0.00 95,187,544.00
9,622,000.00 8,015,569.00
0.00

902,512,482.00 0.00
251,364.00

907,718,968.00 0.00
114,641.00

868,259,152.00 0.00
94,101.00

937,749,549.00 0.00
99,834.00

-10-

YEAR ENDED JUNE 30, 1994

YEAR ENDED JUNE 30, 1995

YEAR ENDED JUNE 30, 1996

YEAR ENDED JUNE 30, 1997

YEAR ENDED JUNE 30, 1998

CURRENT YEAR ENDED JUNE 30, 1999

$ 25,013,5n.oo $ 0.00

70,821 ,487.00 $ 2,000,000.00

29,921 ,984.00 $ 0.00

28,938,219.00 $ 139,327,157.00 $

0.00

0.00

85,965,074.00 0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00 1 ,044,362,532.00
17,040,189.00 14,263,632.00 37,552,988.00

0.00 1,122,317,597.00
19,906,102.00 15,1 03,910.00 42,099,524.00

0.00 1,199,361 '111.00
28,152,973.00 15,788,515.00 46,267'108.00

0.00 1'187,352,108.00
20,223,299.00 14,997,889.00 48,177,827.00

0.00 1'169,338,283.00
22,307,481.00 15,649,080.00 49,099,166.00

0.00 1,244,316,645.00
25,256,380.00 15,781,902.00 56,030,891.00

84,606,707.00 16,107,059.00 9,757'126.00 1'178,485,757.00 72,267,265.00 37,037,111.00

106,314,561.00 17' 176,250.00 1o.no,1o6.oo
1,267,368,428.00 84,834,598.00 38,857,656.00

126,652,017.00 17,901,087.00 12,583,301.50 1,354,441 ,592.00 94,797,654.00 40,859,980.00

149,486,039.00 19,522,188.00 12,340,428.00 1,338,605,544.00 106,517,447.00 43,759,827.00

185,541 '192.00 20,500,998.00 13,379,252.00 1,374,002,960.00 104,on,984.oo 45,029,713.00

216,332,219.00 21,251,054.00 13,949,130.00 1,388,497,062.00 111 ,954,174.00 47,017,963.00

0.00 100,196,371.00
9,629,000.00 8,289,305.00
0.00

0.00 109,188,409.00
9,640,000.00 8,048,282.00
0.00

0.00 123,437,062.00 13,315,000.00
8,712,420.00 0.00

0.00 117,957,390.00 14,212,500.00
8,275,378.00 0.00

300,000.00 114,791,694.00 15,110,000.00
8,482,241.00 0.00

32,500,000.00 120,305,550.00 17,642,000.00
9,554,299.00 0.00

1,035,038,531.00 22,799,512.00
105,478.00

1,151,379,614.00 119,741,000.00
111,759.00

1,250,769,551.00 71,947,611.00

1,338,591,071.00 78,504,000.00

117,064.00

0.00

-11-

1,485,294,275.00 35,054,422.00
0.00

1,603,044,663.00 26,885,000.00
0.00

OFFICE OF TREASURY AND FISCAL SERVICES
TEN YEAR HISTORICAL SUMMARY OF SELECTED FINANCIAL DATA
GENERAL FUND
APPROPRIATION ALLOTMENTS

OPERATING ALLOTMENTS
Executive Branch Revenue, Department of State Funds Secretary of State State Funds Soil and Water Conservation Commission, State State Funds Student Finance Commission, Georgia State Funds Lottery for Education Teachers Retirement System of Georgia State Funds Technical and Adult Education, Department of State Funds Lottery for Education Transportation, Department of State Funds Veterans Service, State Department of State Funds Workers' Compensation, State Board of State Funds
Total Operating Allotments
DEBT ALLOTMENTS
General Obligation Debt Sinking Fund, State of Georgia State Funds

YEAR ENDED JUNE 30, 1990

YEAR ENDED JUNE 30, 1991

YEAR ENDED JUNE 30, 1992

YEAR ENDED JUNE 30, 1993

$ 70,532,548.00 $ 71,372,727.00 $ 67,229,012.00 $ 79,821,649.00

23,223,697.00

22,792,188.00

22,438,815.00

23,647,675.00

1,775,612.00

1,800,573.00

1,564,803.00

1,594,963.00

21,819,394.00 0.00

22,787,380.00 0.00

21,459,755.00 0.00

24,876,997.00 0.00

3,537,500.00

3,550,000.00

3,600,000.00

3,687,500.00

127,594,206.00 0.00

127,536,355.00 0.00

116,735,231.00 0.00

121,248,988.00 0.00

647,457,497.00

488,130,852.15

416,625,701.29

420,087.752.31

19,617,553.00

21,612,608.00

20,350,841.00

20,845,883.00

7,966,365.00

8,593,533.00

8,298,608.00

9,318,742.00

$ 7,256,119,310.00 $ 7,170,936,098.15 $ 7,167,840,773.29 $ 7,848,749,339.31

3531931?06.00

33616121362.00

35612241021.00

39818661359.00

Total Allotments

$ 7,610,051,016.00 $ 7,507,548,460.15 $ 7,524,064,794.29 $ 8,247,615,698.31

..
-12-

YEAR ENDED JUNE 30, 1994

YEAR ENDED JUNE 30, 1995

YEAR ENDED JUNE 30, 1996

YEAR ENDED JUNE 30, 1997

YEAR ENDED JUNE 30, 1998

CURRENT YEAR ENDED JUNE 30, 1999

$ 79,781 ,390.00 $ 25,172,233.00 1,797,701.00 26,926,367.00 27,745,000.00 3,740,000.00

90,339,945.00 $ 99,567,590.00 $ 106,421,967.00 $ 115,996,967.00 $

28,388,808.00

31,095,904.00

30,901 ,344.00

30,608,423.00

1 ,836,696.00

2,016,411.00

2,000,910.00

2,106,800.00

30,861,064.00 77,401 ,941.00

33,352,346.00 161,240,172.00

32,754,952.00 161,118,161.00

34,136,754.00 203,895,380.00

3,820,000.00

4,034,000.00

4,100,000.00

3,644,000.00

129,830,945.00 32,527,576.00
2,161,294.00 33,478,570.00 215,153,022.00
3,650,000.00

134,699,191.00 25,981,000.00

145,775,788.00 42,417,423.00

166,733,149.00 40,258,713.00

202,966,273.00 91 ,965,507.00

247,964,921.00 5,441 ,500.00

288,475,280.00 26,809,346.00

452,551,434.38

454,935,496.63

492,094,050.00

542,979,114.00

606,922,082.65

598,154,925.00

22,533,171.00

23,582,566.00

24,353,698.00

20,262,252.00

20,519,548.00

20,445,381.00

9,758,103.00

10,163,371.00

10,454,185.00

10,646,701.00

10,918,457.00

11,490,784.00

$ 8,712,590,710.38 $ 9,762,274,706.63 $ 10,458,515,033.50 $ 11,181,070,535.00 $ 11,977,395,694.65 $ 12,697,886,119.00

456,487,573.00

481! 730,435.00

524,313,203.00

621,465,791.00

596,125,028.00

562,616,689.00

$ 9,169,078,283.38 $ 10,244,005,141.63 $ 10,982,828,236.50 $ 11,802,536,326.00 $ 12,573,520,722.65 $ 13,260,502,808.00

-13-