West Central Technical College, Waco, Georgia, independent accountant's report on applying agreed-upon procedures for the fiscal year ended June 30, 2007

STATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS
I
WEST CENTRAL TECHNICAL COLLEGE WACO, GEORGIA
INDEPENDENT ACCOUNTANT'S REPORT ON APPLYING AGREED-UPON PROCEDURES
FOR THE FISCAL YEAR ENDED JUNE 30, 2007
Russell W. Hinton State Auditor

WEST CENTRAL TECHNICAL COLLEGE - TABLE OF CONTENTS -
INDEPENDENT ACCOUNTANT'S REPORT ON APPLYING AGREED-UPON PROCEDURES EXHIBIT
A BUDGET COMPARISON AND SURPLUS ANALYSIS REPORT

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

DEPARTMENT OF AUDITS AND ACCOUNTS
270 Washington Street, S.W., Suite 1-156 Atlanta, Georgia 30334-8400
November 28, 2007

Members of the State Board Technical and Adult Education Members of the Local Board ofDirectors
and Honorable Skip Sullivan, President West Central Technical College

Independent Accountant's Report on Applying Agreed-Upon Procedures

Ladies and Gentlemen:

We have performed the procedures enumerated below, which were agreed to by the College and the

Administrative Central Office (Oversight Unit) ofthe Department ofTechnical and Adult Education,

solely to assist you in assessing the accuracy ofthe annual financial statement information reported

to the Administrative Central Office by the College for inclusion in the State of Georgia's

Comprehensive Annual Financial Report (CAFR) and Single Audit Report; and to assist you in

assessing the accuracy ofbudget basis information provided in the Budget Comparison andSurplus

Analysis Report, which is attached as Exhibit A. This agreed-upon procedures engagement was

conducted in accordance with attestation standards established by the American Institute ofCertified

Public Accountants. The sufficiency of these procedures is solely the responsibility of the parties

specified in this report. Consequently, we make no representation regarding the sufficiency ofthe

procedures described below either for the purpose for which this report has been requested or for any



other purpose.

1. Review selected balance sheet items reported on the annual financial statement worksheets (cash, accounts receivable, accounts payable, deferred revenues, net assets). Confirm that these items have adequate supporting documentation and are properly reconciled to the College's general ledger.

We did not note any exceptions as a result of our procedures.

2. Obtain the College's GAAP basis worksheets for Statement ofNet Assets and Statement of Revenues, Expenses and Changes in Net Assets (SRECNA) information that was submitted for inclusion in the State's CAFR and Single Audit. Utilizing test scripts, confirm that financial information presented in these worksheets properly support activity reported in the College's accounting records.

We did not note any exceptions as a result of our procedures.

3. Obtain the College's worksheets for financial statement note disclosure information submitted for inclusion in the State's CAFR and Single Audit. Utilizing notes worksheets and other supporting documentation confirm that note disclosures related to Cash, Investments, Accounts Receivable, Capital Assets, Long-Term Debt, Lease Obligations and Retirement Plans have been properly reported.
We did not note any exceptions as a result of our procedures.
4. Review the College's year end GAAP basis journal entries. Obtain documentation for GAAP journal entries and confirm that the entries were posted to the College's annual financial statement worksheets.
We did not note any exceptions as a result of our procedures.
5. Confirm that State Appropriation revenues, receivables and remittances ofprior year surplus balances have been properly recorded in the College's financial records. Prior year surplus balances should be netted against State Appropriation revenues in the GAAP basis financial statements; however, prior year surplus balances should be reflected as fund balance adjustments on the Budget basis financial statements.
We did not note any exceptions as a result of our procedures.
6. Obtain listing ofwrite-offrequests for accounts receivable less than $3,000.00 for fiscal year 2007. Confirm that these write-off requests have been approved by the State Accounting Officer and have been posted to the College's financial statements.
We did not note any exceptions as a result of our procedures.
7. Verify that the listing ofsalaries, travel, and per diem and fees reported to the Department of Audits is in accordance with O.C.G.A. 50-6-27 reconciles to amounts recorded in the College's financial statements.
We did not note any exceptions as a result of our procedures.
8. Review the year end Budgetary Statements including the Budget Comparison and Surplus Analysis Report (Exhibit A). Confirm that budget information presented in these statements supports activity reported in the College's accounting records and determine if any budget overexpenditures exist.
We did not note any exceptions as a result of our procedures.
9. Obtain documentation for Budget basis reserves reported by the College on the Budget Comparison and Surplus Analysis Report (Exhibit A). Confirm that the reserves are properly documented, valid and appropriate.
We did not note any exceptions as a result of our procedures.

10. Review the H.O.P.E. Scholarship Program reconciliation between the College and the Georgia Student Finance Commission. Confirm that information reported to the Georgia Student Finance Commission has been reconciled with H.O.P.E. Scholarship activity reported on the College's financial records.
We did not note any exceptions as a result of our procedures.
11. Review the Schedule of Expenditures of Federal Awards information submitted by the College for inclusion in the Statewide Single Audit. Confirm that the information is properly presented and supported by the College's accounting records.
The College's Schedule of Expenditures of Federal Awards information did not agree with the Federal expenditure activity reflected on the College's accounting records. Federal expenditures reported on the College's Schedule of Expenditures of Federal Awards included net encumbrance activity in the amount of $111,687.32. This activity was removed to properly reflect expenditure activity in accordance with generally accepted accounting principles.
These agreed-upon procedures do not constitute an audit of the financial statements or any part thereof, the objective of which is to express an opinion on the financial statements or a part thereof. Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.
This report is intended solely for the information and use of the specified users listed above and is not intended to be and should not be used by anyone other than these specified parties.
Respectfully submitted,

RWH:gp

Ru sell W. Hinton, CPA, CGFM State Auditor

EXHIBIT

WEST CENTRAL TECHNICAL COLLEGE BUDGET COMPARISON AND SURPLUS ANALYSIS REPORT
YEAR ENDED JUNE 30, 2007

EXHIBIT"A"

REVENUES
State Appropriation State General Funds
Federal Funds Other Funds
Total Revenues
CARRY-OVER FROM PRIOR YEAR
Transfer from Reserved Fund Balance
Total Funds Available
EXPENDITURES
Adult Literacy Economic Development Technical Education
Total Expenditures
Excess of Funds Available over Expenditures
FUND BALANCE JULY 1
Reserved Unreserved
ADJUSTMENTS
Prior Year Payables/Expenditures Prior Year Receivables/Revenue Unreserved Fund Balance (Surplus) Returned
to Department of Technical and Adult Education Year Ended June 30, 2006
Prior Year Reserved Fund Balance Included in Funds Available
FUND BALANCE JUNE 30

BUDGET

ACTUAL

VARIANCEFAVORABLE (UNFAVORABLE)

$ 11,909,223.48 $
1,295,002.90 5,004,478.00
$ 18,208,704.38 $

11,909,223.48 $
1,191,656.13 4,811,825.00
17,912,704.61 $

0.00 -103,346.77 -192,653.00
-295,999.77

0.00
$ 18,208,704.38 $

377 785.12
18,290,489.73 $

377 785.12 81 785.35

$

923,160.21 $

105,841.00

17179703.17

$ 18,208,704.38 $

$

0.00 $

891,320.35 $
60,443.44 16,701,346.43
17,653,110.22 $
637,379.51 $

31,839.86 45,397.56 478 356.74
555,594.16
637 379.51

674,930.44 3,363.31

22,992.97 -31,817.09

-3,363.31 -377 785.12

$

925 700.71

SUMMARY OF FUND BALANCE
Reserved Live Works Projects Sales and Services Technology Fees Inventories
Total Reserved
Unreserved Surplus
Total Fund Balance

$

174,390.86

283,018.58

167,226.04

297,145.32

$

921,780.80

3 919.91

$

925 700.71