Review report, state of Georgia, State University of West Georgia, Carrollton, Georgia, year ended June 30, 1996

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STATE OF GEORGIA DEPARTMENT OF AUDITS
254 WASHINGTON STREET
ATLANTA. GEORGIA 30334

REVIEW REPORT STATE OF GEORGIA STATE UNIVERSITY OF WEST GEORGIA CARROLLTON, GEORGIA
YEAR ENDED JUNE 30, 1996

STATE UNIVERSITY OF WEST GEORGIA - TABLE OF CONTENTS -

SECTION I

FINANCIAL

INDEPENDENT ACCOUNTANTS COMBINED REPORT ON REVIEW OF FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION

EXHIBITS

FINANCIAL STATEMENTS

A COMBINED BALANCE SHEET

ALL FUND GROUPS

2

B COMBINED STATEMENT OF CHANGES IN FUND BALANCES

ALL FUND GROUPS

4

C STATEMENT OF CURRENT FUNDS REVENUES, EXPENDITURES,

AND OTHER CHANGES

6

D NOTES TO THE FINANCIAL STATEMENTS

7

SUPPLEMENTARY INFORMATION

E COMBINING BALANCE SHEET

CURRENT FUNDS - UNRESTRICTED

20

F COMBINING STATEMENT OF CHANGES IN FUND BALANCES

CURRENT FUNDS - UNRESTRICTED

21

G COMBINING STATEMENT OF CURRENT FUNDS REVENUES, EXPENDITURES,

AND OTHER CHANGES

UNRESTRICTED

23

SCHEDULES

SCHEDULES OF REVENUES AND EXPENDITURES COMPARED TO BUDGET

1

RESIDENT INSTRUCTION

24

2

LOTTERY FOR EDUCATION

26

3 SCHEDULE OF OPERATIONS

LOAN FUNDS

27

4 SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

AGENCY FUNDS

28

5 CASH AND CASH EQUIVALENTS

J1

6 ACCOUNTS RECEIVABLE

33

7 CHANGES IN INVESTMENT IN PLANT

34

8 SCHEDULE OF FUND BALANCES

CURRENT FUNDS AND PLANT FUNDS

36

9 SCHEDULE OF REVENUES

CURRENT FUNDS

38

STATE UNIVERSITY OF WEST GEORGIA TABLE OF CONTENTS

SECTION I

FINANCIAL

SUPPLEMENTARY INFORMATION

SCHEDULES

SCHEDULES OF EXPENDITURES BY OBJECT

10

CURRENT FUNDS

40

11

PLANT FUNDS

44

SECTION II FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS

SECTION I FINANCIAL

CLAUDE L. VICKERS
STATE AUDITOR
(404) 656-2174

DEPARTMENT OF AUDITS
254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400
November 21, 1996

Honorable Zell Miller, Governor M~mbers ofthe General Assembly of Georgia Members ofthe Board ofRegents ofthe University System of Georgia
and Honorable Beheruz N. Sethna, President State University ofWest Georgia
INDEPENDENT ACCOUNTANT'S COMBINED REPORT ON REVIEW OF FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION
Ladies and Gentlemen:
We have reviewed the accompanying financial statements (Exhibits A through D) of State University ofWest Georgia as of and for the year ended June 30, 1996, in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. All information included in these financial statements is the representation of the management of State University ofWest Georgia.
A review consists principally ofinquiries ofUniversity personnel and analytical procedures applied to financial data. It is substantially less in scope than an audit in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.
Based on our review, with the exception of the matters described in the fourth and fifth paragraphs, we are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in conformity with generally accepted accounting principles.
As disclosed in Note 1 to the financial statements, generally accepted accounting principles require encumbrances to be recorded as a reservation of fund balance. However, in accordance with Georgia Law and State budgetary policy, management recorded encumbrances as expenditures and liabilities. The effects ofthis departure from generally accepted accounting principles on the financial statements were not reasonably determinable.

96ARL-67

As disclosed in Note 1 to the financial statements, the University did not report the liability and related expenditure for compensated absences in the current funds as required by generally accepted accounting principles. Ifcompensated absences were reported, liabilities would be increased and fund balance would be decreased by $1,415,115.11 as of June 30, 1996, and the net change in fund balance for the year ended June 30, 1996, would be decreased by $61,826.15.
Our review was made for the purpose ofexpressing limited assurance that there are no material modifications that should be made to the financial statements in order for them to be in conformity with generally accepted accounting principles. The accompanying supplementary information (Exhibits E through G and Schedules 1through 11) is presented only for supplementary analysis purposes. Such information has been subjected to the inquiries and analytical procedures applied in the review of the financial statements, and except for the effects of the matters discussed in the fourth and fifth paragraphs, we are not aware of any material modifications which should be made thereto.

CLV:cm 96ARL-67

Claude L. Vickers State Auditor

FINANCIAL STATEMENTS - 1-

STATE UNIVERSITY OF WEST GEORGIA COMBINED BALANCE SHEET ALL FUND GROUPS JUNE 30, 1996

ASSETS
Cash and Cash Equivalents Accounts Receivable Inventories Prepaid Items Due from Other Fund Groups Investment in Plant
Total Assets

CURRENT FUNDS UNRESTRICTED RESTRICTED

LOAN FUNDS

$ 6,055,379.79

$

94,568.93

576,353.52 $ 772,957.56

1,875,469.29

495,553.86

10,610.45

440,251.54

$ 7,578,149.16 $ 772,957.56 $ 1,970,038.22

LIABILITIES AND FUND BALANCES
Uabilities Accounts Payable Student Deposits Deferred Revenue Tuition and Fees Other Deposits Held in Custody for Others Due to Other Fund Groups
Total Uabilities
Fund Balances U. S. Govemment Grants Refundable Institutional Loans - Restricted Net Investment in Plant Restricted Unrestricted
Total Fund Balances

$ 1,868,998.20 $
207,023.00

24,531.23

1,739,405.50 591,580.26

440,251.54

$ 4,407,006.96 $ 464,782.77

$ 1,805,730,97
164,307.25
$ 308,174,79 $ 3,171 ,142.20
$ 3,171,142.20 $ 308,174.79 $ 1,970,038.22

Total Uabilities and Fund Balances

$ 7,578,149.16 $ 772,957.56 $ 1,970,038.22

See Independent Accountanfs Combined Report on Review of Financial Statements and Supplementary Information.
The notes to the financial statements are an integral part of this statement.
-2-

EXHIBIT "A"

UNEXPENDED

PLANT FUNDS RENEWALS AND REPLACEMENTS

INVESTMENT IN PLANT

AGENCY FUNDS

TOTAL (Memorandum
Only)

$ 1,465,975.41 $

1,649,567.10

$

13,600.00

_ _ _ _ _ _ $ 72,251,969.34

348,699.38 $ 9,614,190.61 3,238,380.37 495,553.86 10,610.45 440,251.54
72,251,969.34

$ 1,479,575.41 $

1,649,567.10 $ 72,251,969.34 $ 348,699.38 $ 86,050,956.17

$ 1,479,375.09 $

180,856.00

$ 1,479,375.09 $

180,856.00

$ 176,686.26 $ 3,730,446.78 207,023.00

172,013.12

1,739,405.50 591,580.26 172,013.12 440,251.54

$ 348,699.38 $ 6,880,720.20

$ 72,251,969.34

$

200.32 $

1,468,711.10

$

200.32 $

1,468,711.10 $ 72,251,969.34

$ 1,805,730.97 164,307.25
72,251,969.34 308,174.79
4,640,053.62
$ 79,170,235.97

$ 1,479,575.41 $

1,649,567.10 $ 72,251,969.34 $ 348,699.38 $ 86,050,956.17

-3-

STATE UNNERSITY OF WEST GEORGIA COMBINED STATEMENT OF CHANGES IN FUND BALANCES
ALL FUND GROUPS
YEAR ENDED JUNE 30, 1996

REVENUES AND OTHER ADDITIONS
UMIItricted Cumant Fund Revenues State Appropriations
Major Repairs/Rehabilitation Funds Lottery Proceeds FedenII Grants and Contracts State Glllnts and Contracts Local Glllnts and Contracts Private Gilts, Grants, and Contracts , Investment Income Interest on Loans Receivable Adjustments Prior Vears' Expenditln&'Accounts Payable Expended for Plant Facilities Cumant Funds Plant Funds
Unexpended R-.ts and Replacements a-gia State Financing and Investment Commission
Total Revenues and Other Additions
EXpENDITURES AND OTHER DEDUCTIONS
Educational and General Expenditures Auxiliary Enterprises ExpenditUIIIS Indirect Costs Recovered Remittances to the brei of Regents of the
University System of Georgia Prior Vee". Unrestricted Fund Balance (Surplus)
Adjustments Prior Vears' Revenues/Accounts Receivable
Loans Assigned to Federal Government Loan Cancellations and Write-Olrs Administnltive and CoItection Costs Expended for Plant Facilities
Capitalized Noncapitalized DispouIslDeletionslAdjustrnents
Total Expenditures and Other Deductions
TRANSFERS BEJWEEN FUNDS
Nonmandatory R_1s and Replacements Capital Projects
Total Tlllnsfers Between Funds
Net Increasef(Decrease) for the Vear
FUND BALANCES JULV 1,1995
FUND BALANCES JUNE 30, 1996
see Independent Accountanfs Combined Report on Review of Financial Statements
and Supplementary Information,
The notes to the financial statements are an integral part of this statement,
-4

CURRENT FUNDS UNRESTRICTED RESTRICTED

LOAN FUNDS

$ 51,610,703.07

$ 13,610,319,86 $ 5,224,796,76 17,730,98 476,511.34
22,726,68

11,763,00
5,025.00 12,682.68 "2,421.65

$ 51,633,"29,95 $ 111,329,358,94 $

71,892,33

$ 42,486,854,6<1 $ 19,060,787.67 7,655,500.90 82,476,73

2",606,05 556.51

$

10,091,11

18,327.35

''','5<4,65

$ 50,367,518,10 $ 19,143,26<1.040 $

42,573,11

$

-476,375,40

-45<4,961,80

$

-931,337,20

$

334,574.65 $ 186,094,5<4 $

29,319.22

2,836,567,55

122,080,25

1,940,719,00

$ 3.171.1"2,20 $ 308,174.79 $ 1,970,038,22

EXHIBIT "a-

UNEXPENDED

PLANT FUNDS RENEWALS AND REPLACEMENTS

INVESTMENT IN PLANT

TOTAL (MemonIndum
Only)

$ 707,620.00 420,000.00 280.239.55 $ 200.32
$ 1,408,059.87 $

$ 51,610,703.07

60,441.30

707,620.00 420,000.00 13,622,082.86 5,224,796.76
17,730.98 481,536.34 353,363.53
42,421.65

138.22

23,065.42

$ 2,244,245.95 2,244,245.95

1,862,821.35 354,645.38 15,300.32

. 1,862,821.35 354,645.38 15,300.32

60,579.52 $ 4,477,013.00 $ 76,980,333.61

$

252.02

1,862,821.35 $ $ 1,863,073.37 $

$ 61,547,642.31 7,855,500.90 82,476.73

354,645.38 7,624.28 $
362,269.66 $

24,858.07

556.51 10,091.11 18,327.35 14,154.65

268,547.38

2,217,466.73 7,624.28
268,547.38

268,547.38 $ n,047,246.02

$ $ 454,961.80

$ 454,961.80 $

$

-51.70 $

252.02

476,375.40

$

0.00

0.00

476,375.40

$

0.00

174,685.26 $ 4,208,465,62 $ 4,933,087.59

1,294,025.84 68,043,503.n 74,237.148.38

$

200.32 $

1,468,711.10 $ n.251,969.34 $ 79,170,235.97

-5-

STATE UNIVERSITY OF WEST GEORGIA STATEMENT OF CURRENT FUNDS REVENUES. EXPENDITURES,
AND OTHER CHANGES YEAR ENDED JUNE 30. 1996

EXHIBIT"C"

Net Increase/(Decrease) in Fund Balances

$

334.574.65 $

See Independent Accountanfs Combined Report on Review of Financial Statements and Supplementary Information.

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

186.094.54 $

520.669.19

STATE UNIVERSITY OF WEST GEORGIA NOTES TO THE FINANCIAL STATEMENTS
JUNE 30.1996

EXHIBIT "D"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
REPORTING ENTITY State University ofWest Georgia (formerly West Georgia College) is one ofthirty-four (34) State supported member institutions of higher education in Georgia which comprise the University System of Georgia, an organizational unit of the State of Georgia. The accompanying financial statements reflect the operations of State University ofWest Georgia as a separate reporting entity.
The Board of Regents has constitutional authority to govern, control and manage the University System of Georgia. This authority includes but is not limited to the power to designate management, the ability to significantly influence operations, the authority to control institutions' budgets, the power to determine allotments of State funds to member institutions and the authority to prescribe accounting systems and administrative policies for member institutions. State University ofWest Georgia does not have authority to retain unexpended State funds (surplus) for any given fiscal year. Accordingly, State University of West Georgia is considered an organizational unit of the Board of Regents of the University System of Georgia reporting entity for financial reporting purposes because of the significance of its legal, operational, and financial relationships with the Board ofRegents as defined in Section 2100 of the Governmental Accounting Standards Board Codification of Governmental Accounting and Financial Reporting Standards.
FUND ACCOUNTING In order to ensure observance oflimitations and restrictions placed on the use of the resources available to the University, the accounts ofthe University are maintained in accordance with the principles offund accounting. This is the procedure by which resources for various purposes are classified for accounting and reporting purposes into funds that are in accordance with activities or objectives specified. Separate accounts are maintained for each fund; however, in the accompanying financial statements, funds that have similar characteristics have been combined into fund groups. Accordingly, all financial transactions have been recorded and reported by fund group.
Within each fund group, the University's fund balance allocations and designations represent those portions ofthe fund balances that are reserved, restricted and/or designated for specific future use by legal covenants, State policies, or institutional policies.
Fund groups and funds presented in the accompanying financial statements are as follows:
CURRENT FUNDS
UNRESTRICTED - The fund used to account for those economic resources over which the University retains full control to use for purposes of performing the primary functions of the University, e.g., instruction, research, public service, auxiliary enterprises, and student activities.
RESTRICTED - The fund used to record externally restricted funds which may only be utilized in accordance with the purposes established by their source. Restricted current funds are recorded as revenues and expenditures when expended for current operating purposes.
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STATE UNIVERSITY OF WEST GEORGIA NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXHIBIT "0"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

FUND ACCOUNTING

LOAN FUNDS

The fund used to account for resources which have been made available for financial loans to students.

.PLANT FUNDS

UNEXPENDED - The fund used to account for financial resources utilized to acquire or to construct

physical properties for institutional purposes.

.

RENEWALS AND REPLACEMENTS - The fund used to account for resources set aside for the renewal and replacement ofinstitutional properties.

INVESTMENT IN PLANT - The fund which shows the total amounts representing the book value ofall physical properties owned by the University. Net Investment in Plant is an equity account showing the total bo<:>k value ofphysical properties belonging to the University less the amount of any indebtedness to others.

AGENCY FUNDS

The fund used to account for resources held by the University as custodian or fiscal agent for individual students, faculty, staffmembers, and.organizations.

BASIS OF ACCOUNTING Except as otherwise disclosed in these notes, the financial statements are prepared on the modified accrual basis ofaccounting, which is materially the same as the accrual basis of accounting applicable to colleges' and universities prescribed in the American Institute of Certified Public Accountants' audit guide reporting model. The modified accrual basis ofaccounting is defined as that method of accounting in which expenditures, other than accrued interest on general long-term debt, are recorded at the time liabilities are incurred and revenues are recorded when available and measurable to finance expenditures ofthe fiscal period.

Contractual obligations for goods and services which have not been received at the end of the fiscal year are recognized as expenditures and liabilities in the accompanying financial statements. This accounting practice causes expenditure-driven grant revenues to be accrued based, in part, on the unexecuted portion of contracts for goods and services. The recognition ofencumbrances as expenditures and liabilities is in conformity with accounting practices prescribed or permitted by statutes and regulations of the State of Georgia, but is not consistent with generally accepted accounting principles, which provide for the recording ofencumbrances as a reservation offund balance. Further, revenue recognition for expenditure-driven grants should be based upon expenditures determined in accordance with generally accepted accounting principles.

- 8-

STATE UNIVERSITY OF WEST GEORGIA
NOTES TO THE FINANCIAL STATEMENTS
JUNE 3D. 1996

EXHIBIT"D"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING Compensated absences represent obligations of the University relating to employees' rights to receive compensation for future absences based upon services already rendered. This obligation relates only to vesting accumulated annuall~ve in which payment is probable and can be reasonably estimated. The compensated absences liability of$1,415,1l5.11 and the related current year expenditure of $61,826.15 have not been reported in the current funds as required by generally accepted accounting principles.
Prior period adjustments and certain other items are reported as additions to and deductions from fund balances of current funds 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. The effect of this departure is deemed to be immaterial to the fair presentation ofthe financial statements.
To the extent that Current Funds and Plant Funds are used to finance plant assets, the amounts so provided are accounted for as expenditures. The balances shown on the Combined Balance Sheet as Net Investment in Plant reflect the accumulated expenditures made for plant facilities through Current Funds and Plant Funds and also include expenditures made for plant facilities expended by the Georgia State Financing and Investment Commission on behalf ofthe University. Donated fixed assets are recorded at fair market value on the date donated. Disposals are deleted at recorded values. No depreciation has been provided on physical plant and equipment.
It is the policy ofState University ofWest Georgia to record assets acquired through capital leases as additions to Investment in Plant as payments are made by the University. The liability for such leases at fiscal year-end is not recorded on the Combined Balance Sheet. This presentation differs from generally accepted accounting principles in that the assets and the related liability resulting from capital leases should be recorded in Investment in Plant at the inception of the agreement at the net present value of the future minimum lease payments, not to exceed the fair value of the leased property. The effect of this departure is deemed to be immaterial to the fair presentation ofthe financial statements.
The Statement of Current Funds Revenues, Expenditures, and Other Changes is a statement of financial activities of current funds related to the current reporting period. It does not purport to present the results of operations or the net income or loss for the period as would a statement of income or a statement of revenues and expenses.
BUDGET The Board of Regents of the University System of Georgia - Administrative Central Office receives State appropriation allotments for units ofthe University System of Georgia. The appropriated budget is adopted at the departmental level and represents appropriations provided by the Amended Appropriations Act of 19951996. The appropriated budget covers current funds and plant funds, except for Auxiliary Enterprises and Student Activities which are not subject to appropriation. The budget allocation and disbursement of these
- 9-

STATE UNIVERSITY OF WEST GEORGIA NOTES TO THE FINANCIAL STATEMENTS
JUNE 30. 1996

EXHIBIT "D"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BUDGET funds is made to the various organizational units by the Administrative Central Office. In addition, the organizational units receive Federal funds and other funds directly and include these funds in the budget filed with the Administrative Central Office.
CASH AND CASH EQUIVALENTS Cash and Cash Equivalents consist of petty cash, demand deposits, certificates of deposit and temporary investments in authorized financial institutions, and cash management pools that have the general characteristics ofdemand deposit accounts.
ACCOUNTS RECEIVABLE Accounts receivable consist of allotments due from the Board of Regents of the University System of Georgia - Administrative Central Office, reimbursements due from Federal, State, local, and private grants and contracts, and other receivables disclosed from information available. No provision has been made for an allowance for doubtful accounts within the accompanying financial statements.
INVENTORIES Inventories of consumable supplies are recorded on the consumption method and are valued at cost on the Combined Balance Sheet using the weighted average method.
Inventories ofgoods for resale are valued at cost using the first-in, first-out method.
PREPAID ITEMS Prepaid items are payments made to vendors in advance of the receipt ofgoods and services that will benefit periods subsequent to the balance sheet date.
MEMORANDUM ONLY - TOTAL COLUMNS The total columns on the financial statements 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 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 ofthis data.
NOTE 2: CUSTODIAL CREDIT RISKS OF CASH DEPOSITS AND INVESTMENTS
STATE OF GEORGIA COLLATERALIZATION STATUTES AND POLICIES Funds belonging to the State ofGeorgia 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 anyone or more ofthe following securities as enumerated in the Official Code of Georgia Annotated Section 50-17-59:

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STATE UNIVERSITY OF WEST GEORGIA NOTES TO THE FINANCIAL STATEMENTS
JUNE 30. 1996

EXHIBIT"D"

NOTE 2: CUSTODIAL CREDIT RISKS OF CASH DEPOSITS AND INVESTMENTS
STATE OF GEORGIA COLLATERALIZATION STATUTES AND POLICIES (1) Bonds, bills, certificates ofindebtedness, notes, or other direct obligations ofthe United States or ofthe State ofGeorgia.
(2) Bonds, bills, certificates ofindebtedness, notes, or other obligations of the counties or municipalities of the State of Georgia.
(3) Bonds ofany 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 ofthe State of . Georgia.
(5) Bonds, bills, certificates ofindebtedness, 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 of accounts 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 of the State of Georgia (which includes organizational units of the Board ofRegents of the University System of Georgia) the option of exempting demand deposits from the collateral requirements.
The treasurer ofthe Board ofRegents is responsible for all details relative to furnishing the required depository protection for all units of the University System of Georgia.
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 ofJune 30, 1996, are categorized below in order to provide information about the extent to which such deposits are exposed to custodial credit risk:
Category 1 - Amounts covered by depository insurance or collateralized with securities (at market value) held by the University or by its agent in the University's name.
Category 2 - Amounts collateralized with securities (at market value) held by the pledging financial institution's trust department or agent in the University's name.
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STATE UNIVERSITY OF WEST GEORGIA NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXHIBIT"D"

NOTE 2: CUSTODIAL CREDIT RISKS OF CASH DEPOSITS AND INVESTMENTS

CATEGORIZATION OF DEPOSITS 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 University's name, and amounts uncollateralized.

Cash Deposits

Carrying Amount

Bank Balances

Risk Categories

2

3

$ 4 9TI 670.82 $ 7,298 617 59 $ 200 000 00 $ 500 000 00 $ 6 598 617.59

CATEGORIZATION OF INVESTMENTS At June 30, 1996, the carrying amount and market value of the University's total investments was $4,609,634.79 and ofthis amount, $4,390,421.60 was included in the State Investment Pool administered by the Office ofTreasury and Fiscal Services and $219,213.19 was included in the Board ofRegents Short-Term Investment Fund. Since the University did not own any specific identifiable securities in these pools, no categorization ofinvestments was required.

NOTE 3: INVESTMENT IN PLANT

The following is a summary ofInvestment in Plant fixed assets as ofJune 30, 1996:

Land Buildings . Improvements Other Than Buildings Equipment Library Books and Collections
Total Investment in Plant

$ 554,184.25 49,004,705.15 3,200,275.55 11,233,892.90 8,258,911.49
$72,251.969.34

NOTE 4: RISKMANAGEMENT

State University ofWest Georgia is a participant in the Board ofRegents ofthe University System of Georgia Health Benefits Plan, which is a self-insurance program ofhealth and dental benefits for employees and retirees ofthe University System of Georgia. The University and participating employees and retirees pay premiums to the Health Benefits Plan for this health insurance coverage. The Health Benefits Plan is included in the audit report ofthe Board ofRegents ofthe University System of Georgia - Administrative Central Office. All units ofthe University System of Georgia share the risk ofloss for claims ofthe Health Benefits Plan. The Health Benefits Plan is considered a self-sustaining risk fund that provides health coverage for its members up to a maximum lifetime benefit of $1,000,000.00 per person and dental coverage up to an annual maximum of $1,000.00 per person. The Board of Regents has contracted with Blue Cross Blue Shield qf Georgia to process claims in accordance with the Health Benefits Plan as established by the Board ofRegents.

The Department ofAdministrative Services (DOAS) has the responsibility for the State of Georgia of making 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

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STATE UNIVERSITY OF WEST GEORGIA NOTES TO THE FINANCIAL STATEMENTS
JUNE 30. 1996

EXHIBIT "D"

NOTE 4: RISKMANAGEMENT
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 University, as an organizational unit of the Board of Regents of the University System of Georgia, 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.
A self-insured program ofprofessional liability for its employees was established by the Board ofRegents of the University System ofGeorgia under powers authorized by the Official Code of Georgia Annotated Section 45-9-1. The program insures the employees to the extent that they are not immune from liability against personal liability for damages arising out ofthe performance oftheir duties or in any way connected therewith. The program is administered by DOAS as a Self-Insurance Fund,
NOTE 5: DEFERRED COMPENSATION PLAN
The State ofGeorgia offers its employees a deferred compensation plan in accordance with Internal Revenue Code Section 457. The plan, available to employees ofthe State of Georgia and county health departments,
permits such employees to defer a portion oftheir salary until future years. Participation in the plan is optional.
Participants choose the option or options in which they wish to participate. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the State of Georgia subject only to the claims of the State's general creditors. Participants' rights under the plan are equal to those of a general creditor of the State of Georgia in an amount equal to the fair market value of the deferred account for each participant. Financial information relative to' the plan will be presented in the State of Georgia Comprehensive Annual Financial Report for the fiscal year ended June 30, 1996.
NOTE 6: RETIREMENT PLANS
TEACHERS RETIREMENT SYSTEM OF GEORGIA
Plan Description State University of West Georgia participates in the Teachers Retirement System of Georgia (TRS), a costsharing multiple-employer public employee retirement system (PERS) established by the General Assembly ofGeorgia for the purpose of providing retirement allowances and other benefits for teachers of the State of Georgia. The University's payroll for the year ended June 30, 1996, for employees covered by TRS was $19,492,385.81. The University's total payroll for all employees was $28,320,792.77.

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STATE UNIVERSITY OF WEST GEORGIA NOTES TO THE FINANCIAL STATEMENTS
JUNE 30. 1996

EXHIBIT"D"

NOTE 6: RETIREMENT PLANS
TEACHERS RETIREMENT SYSTEM OF GEORGIA
Benefits TRS provides service retirement, disability retirement, and survivor's benefits for its members. A member is eligible for service retirement after the member (1) has attained the age of 60 years and has at least ten years ofcreditable service, (2) has at least 30 years of creditable service, regardless ofage, or (3) has attained the age of55 years and has at least 25 years of creditable service. For those members with 30 years of service or those age 60 with at least ten years of service, retirement benefits are equal to 2% of the average of the. member's two consecutive highest paid years ofservice multiplied by the number ofyears of creditable service up to 40 years. Any member who has between 25 and 30 years ofcreditable service and is at least 55 years ofage shall receive a benefit which is reduced by the lessor of 1/12 of 7% for each month the member is below age 60, or by 70,10 for each year or fraction thereofby which the member has less than 30 years of service. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death.
Retirement benefits also include death and disability benefits whereby the disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The benefit is based on member's creditable service (minimum of 10 years of service) and compensation up to the date of death or up to the time of disability.
Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest.
Contributions Required and Contributions Made Employees ofthe University who are covered by TRS are required to pay 5% of their gross earnings to TRS. The University makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees as advised by their independent actuary. For fiscal year 1996, the employer contribution rate was 11.81% for covered employees. In addition, the University contributed 4.87% to the TRS on behalf of employees electing to participate in the Regents Retirement Plan.. The interest rate assumption (rate of return on investments) was 7.50%.
Total contributions to the plan made during fiscal year 1996 amounted to $3,588,588.77, of which $2,617,386.95 was made by the University and $971,201.82 was made by employees. These contributions represented 13.43% (University) and 5% (employees) of covered payroll.
Funding Status and Progress Pension Benefit Obligation
The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No.5 of the Governmental Accounting Standards Board (GASB) that is required to be used for reporting purposes. The standardized measurement is the actuarial present value ofcredited projected benefits. This pension valuation method reflects the present value of estimated pension benefits that will be paid in
- 14 -

STATE UNIVERSITY OF WEST GEORGIA NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXHIBIT "0"

NOTE 6: RETIREMENT PLANS

TEACHERS RETIREMENT SYSTEM OF GEORGIA

Funding Status and Progress Pension Benefit Obligation
future years as a result of employee services performed to date and is adjusted for the effects of projected salary increases and any step-rate benefits. A standardized measure of the pension benefit obligation was adopted by the GASB to enable readers ofthe PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among similar PERS.

The total unfunded pension benefit obligation ofTRS as ofJune 30, 1995, which was the latest information available, was as follows:

Total pension benefit obligation Net assets available for benefits, at cost Unfunded pension benefit obligation

$ 17,442,607,000.00 15,857,066,000.00
$ 1.585,541.000.00

The measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1995. Net assets available for benefits were valued as of the same date. TRS does not make separate measurements ofassets and pension benefit obligation for individual employers.

Retirement System Contributions Total contributions from all employers to TRS for the year ended June 30, 1996, were $607,274,559.00. The University's contribution for the year ended June 30, 1996, of$2,617,386.95 was actuarially determined and represented .431% oftotal contributions made by all participating employers.

Trend Information Historical trend information is presented in the TRS June 30, 1996, financial report. This information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due.

REGENTS RETIREMENT PLAN

The State of Georgia provides optional pension benefits for eligible faculty and principal administrators through a defined contribution plan. In a defined contribution plan, benefits depend solely on amounts contributed to the plan plus investment earnings.

State legislation requires that the employer contribute 4% and the employee contribute 5% of the participating employee's earnable compensation. Amounts attributable to all plan contributions are fully vested and nonforfeitable at all times. The University's payroll for employees covered by the Regents Retirement Plan for the year ended June 30, 1996, was $6,443,353.54. The University's total payroll for all employees was $28,320,792.77.

- 15 -

STATE UNIVERSITY OF WEST GEORGIA NOTES TO THE FINANCIAL STATEMENTS
JUNE 30. 1996

EXHIBIT "0"

NOTE 6: RETIREMENT PLANS

REGENTS RETIREMENT PLAN

The University and the covered employees made the required contributions of $258,846.80 (4%) and $323,560.02 (5%), respectively.

GEORGIA DEFINED CONTRIBUTION PLAN

Plan Description

State University ofWest Georgia participates in the Georgia Oefined Contribution Plan (GOCP) which is a

single-employer defined contribution plan established by the General Assembly of Georgia for the purpose of

providing retirement coverage for State employees who are temporary, seasonal, and part-time and are not

members of a public retirement or pension system. GOCP is administered by the Board of Trustees of the

Employees' Retirement System of Georgia. The University's payroll for the year ended June 30, 1996, for

employees covered by GOCP was $974,082.48. The University's total payroll for all employees was

$28,320,792.77:

.

Benefits A member may retire and elect to receive periodic payments after attainment ofage 65. The payment will be based upon mortality tables and interest assumptions to be adopted by the Board ofTrustees. Ifa member has less than $ 3,500.00 credited to hislher account, the Board,ofTrustees has the option of requiring a lump sum distribution to the m~ber in lieu ofmaking periodic payments. Upon the death of a member, a lump sum distribution equaling the amount credited to hislher account will be paid to the member's designated beneficiary.

Contributions and Vesting Member contributions are seven and one-half percent (7.5%) of gross salary. There are no employer contributions. Earnings are credited to each member's account in a manner established by the Board of Trustees. Upon termination of employment, the amount ofthe member's account is refundable upon request by the member.

Total contributions made by employees during fiscal year 1996 amounted to $73,058.36 which represents 7.5% ofcovered payroll. These contributions met the requirements ofthe plan.

NOTE 7: LEAVE POLICIES

Employees earn annual leave ranging from one and one-quarter days to one and three-quarter days each month depending upon the employees' length of continuous State service with maximum accumulation offorty-five days. Employees are paid for unused accumulated annual leave upon retirement or termination of employment See Note 1- Basis of Accounting (Compensated Absences)

- 16 -

STATE UNIVERSITY OF WEST GEORGIA NOTES TO THE FINANCIAL STATEMENTS
JUNE 30. 1996

EXHIBIT"D"

NOTE 7: LEAVB POLICIES
Employees earn one day of sick leave each month with no maximum accumulation established. Unused accumulated sick leave does not vest with the employee and is forfeited upon retirement or termination of employment.
NOTE 8: CONTINGENCIES
Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies. This could result in refunds to the grantor agency for any expenditures which are disallowed under grant terms. The amount of expenditures which may be disallowed by the grantor cannot be determined at this time although the University expects such amounts, ifany, to be immaterial to its overall financial position.
Litigation, claims and assessments filed against State University of West Georgia (as an organizational unit ofthe Board ofRegents ofthe University System of Georgia), if any, are generally considered to be actions against the State of Georgia. Accordingly, significant litigation, claims and assessments pending against the State ofGeorgia are disclosed in the State of Georgia Comprehensive Annual Financial Report for the fiscal year ended June 30, 1996.
NOTE 9: POSTE:MPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS
Pursuant to the general powers conferred by the Official Code of Georgia Annotated Section 20-3-31, the Board ofRegents ofthe University System ofGeorgia has established group health and life insurance programs for regular employees ofthe University System of Georgia. It is the policy of the Board ofRegents to permit employees ofthe University System ofGeorgia eligible for retirement or that become permanently and totally disabled to continue as members ofthe group health and life insurance programs. Employees who are eligible for retirement or disability under the criteria established by the Teachers Retirement System of Georgia and who have at least ten years of service with the University System of Georgia are eligible for these postemployment health and life insurance benefits. Organizational units of the Board of Regents of the University System ofGeorgia pay the employer portion for group insurance for affected individuals.
As ofJune 30, 1996, there were 263 employees who had retired or were disabled that were receiving these postemployment health and life insurance benefits. For the year ended June 30, 1996, State University of West Georgia recognized as incurred $570,614.48 of expenditures, which was net of$165,760.20 of participant contributions.
NOTE 10: BONDING INFORMATION
The President and all employees of State University ofWest Georgia are bonded under a Public Employees Blanket Bond written by the Employers Insurance ofWausau, their Bond No. 1450-02-110723, on which the premium was paid to October 1, 1996. Under this agreement, the public employee dishonesty coverage insures State University of West Georgia to a maximum of$ I ,000,000.00 against loss sustained through fraudulent or dishonest acts by its employees. The faithful performance of duty coverage insures the University to a
- 17 -

STATE UNIVERSITY OF WEST GEORGIA NOTES TO THE FINANCIAL STATEMENTS
JUNE 30. 1996

EXlllBIT "0"

NOTE 10: BONDING INFORMATION

maximum of $1,000,000.00 against loss sustained from failure of its employees to perform faithfully their duties or to account properly for all monies and property received by virtue oftheir position or employment.

All employees of State University ofWest Georgia are also bonded under Commercial Crime Policies written by the United States Fire Insurance Company, their Policy Nos. 6260116752 and 626 012294 4, on which the premiums were paid to October 1, 1996. Under these additional public employee dishonesty coverages, the policies insure the University to a maximum of $9,000,000.00 against loss sustained through fraudulent or dishonest acts by its employees and from failure ofits employees to perform faithfully.

NOTE 11: ENROLLMENT

The equivalent full-time student enrollment of State University ofWest Georgia was as follows:

Regular Term Fall Quarter, 1995 Winter Quarter, 1996 Spring Quarter, 1996

6,861 6,561 6.186

Average

Summer School, 1995

- 18 -

SUPPLEMENTARY INFORMATION - 19 -

STATE UNIVERSITY OF WEST GEORGIA COMBINING BALANCE SHEET
CURRENT FUNDS - UNRESTRICTED JUNE30 1996

EXHIBIT-E-

ASSETS
cash and cash Equivalents Account& Receivable Inventories Prepaid Items Due from Other Fund Groups

RESIDENT LOITERYFOR AUXILIARY

STUDENT

INSTRUCTION EDUCATION. ENTERPRISES ACTIVITIES

TOTAL

$ 2,362,769.25 $ 344,126.57 166,178.30 7,342.60 943,533.82

26,106.51 $ 44,914.98

3,279,381.15 $ 187,149.97 329,375.56 3,267.85

387,122.88 $ 6,055,379.79

162.00

576,353.52

495,553.86

10,610.45

943,533.82

Total Assets

$ 3,823.950.54 $

71,021.49 $ 3,799.174.53 $ 387,284.88 $ 8,081,431.44

LIABILITIES AND FUND BALANCES

Liabilities Accounts Payable Student Deposits Deferred Revenue Tuition and Fees
Other
Due to Other Fund Groups

$ 1,n8,144.25 $ 12,030.00
1,678,347.50 88,661.93

Total liabilities

$ 3,557,183.68 $

Fund Balances Unrestricted

266,766.86

57,817.63 $

25,120.79 $ 190,743.00

7,915.53 $ 1,868,998.20

4,250.00

207,023.00

4,752.00 502,474.85 503,282.28

56,306.00 443.48

1,739,405.50 591,580.26 503,282.28

57,817.63 $ 1,226,372.92 $ 68,915.01 $ 4,910,289.24

13,203.86 2.572,801.61 318,369.87 3,171,142.20

Total liabilities and Fund Balances

$ 3.823.950.54 $

71,021.49 $ 3,799,174.53 $ 387,284.88 $ 8.081,431.44

See accompanying notes and Independent Accountanfs Combined Report
on Review of Financial Statements and SUpplementary Information.
-20-

STATE UNIVERSITY OF WEST GEORGIA COMBINING STATEMENT OF CHANGES IN FUND BALANCES
CURRENT FUNDS - UNRESTRICTED YEAR ENDED JUNE 30, 1996

EXHIBIT-P

RESIDENT LOITERYFOR AUXILIARY

STUDENT

INSTRUCTION EDUCATION ENTERPRISES ACTIVITIES

TOTAL

REVENUES AND OTHER ADDITIONS

Unrestricted Current Fund Revenues Adjustments
Prior Years' Expenditures/Accounts Payable

$ 41,718,063,04 $ 16,668,64

407,385,98 $ 8,984,405.93 $ 500,848.12 $ 51,610,703.07

5,688.80

369.44

22,726,88

Total Revenues and other Additions $ 41 ,734,731,68 $ 407,385.98 $ 8,990,094,73 $ 501,217,56 $ 51,633,429,95

EXPENDITURES AND OTHER DEDUCTIONS

Educational and General Expenditures AUlCiIiaIy Enterprises Expenditures
Remittances to the Board of Regents of the
University System of Georgia Prior Year's Unrestricted Fund Balance (Surplus)
Adjustments Prior Years' Revenues/Accounts Receivable

$ 41,667,193.11 $
24,606,05 404,30

394,203,96

$ 425,457.57 $ 42,486,854.64

$ 7,855,500.90

7,855,500.90

152.21

24,606.05 556.51

Total Expenditures and other Deductions

$ 41,692,203.46 $ 394,203.96 $ 7,855,653,11 $ 425,457.57 $ 50,367,518,10

TRANSFERS BEJWEEN FUNDS

Nonmandatory Renewals and Replacements C8pitaI Projects

$ -476,375,40 -454.961,80

$ -476,375.40 -454,961,80

Total Transfers Between Funds

$ -931.337.20

$ -931 ,337.20

Net IncreaseI(Decrease) for the Year $

42,528,22 $ 13,182.02 $ 203,104.42 $ 75,759.99 $ 334,574.65

FUND BALANCES JULY 1. 1995

224,238.64

21.84

2,369,697.19

242.609.88

2.836,567.55

FUND BALANCES JUNE 30 1996

$ 266,766.86 $ 13,203.86 $ 2,572,801.61 $ 318,369,87 $ 3,171,142.20

see accompanying notes and Independent Accountant's Combined Report
on Review of Financial Statements and Supplementary Information,
21

STATE UNIVERSITY OF WEST GEORGIA COMBINING STATEMENT OF CURRENT FUNDS REVENUES EXPENDITURES.
AND OTHER CHANGES UNRESTRICTED
YEAR ENDeD JUNE 30. 1996
see accompanying notes and Independent Accountanfs Combined Report
on Review of Financial Statements and Supplementary Information. -23-

STATE UNIVERSITY OF WEST GEORGIA SCHEPULE OF REVENUES AND EXPENDITURES COMPARED TO BUDGET
RESIDENT INSTRUCTION YEAR ENDED JUNE 30. 1996

REVENUES
State AppropriatioIIS Other Revenues Retained

CURRENT FUNDS UNRESTRICTED RESTRICTED

PLANT FUNDS RENEWALS AND
UNEXPENDED REPLACEMENTS

$ 27,995,616.00

$

13,722,447.04 $ 19,060,787.67

707,620.00 280,239.55 $

-=60=.1,'-=-44.:..:1~.3O=

$ 41,718,063.04 $ 19,060,787.67 $ 987,859.55 $

..;.60;.:.,44~1.;,;;,3O~

EXPENDITURES

Personal Services:

Education, General ancl Departmental Services $ 32,552,330.71

Sponsored Operations

$ 359,189.80

Operating Expenses:

Education, General ancl Departmental Services

8,797,226.16

Sponsored Operations

18,701,597.87

Capital Outlay

$ 1,442,821.35 $

Special Funcling Initiative

317,636.24

362,269.66

Excess of Revenues over Expenclitures

$ 41,667,193.11 $ 19.060,787.67 $ 1,442.821.35 $ _ _--.:::362=,269=;,;;,.66~

$

50.869.93 $

00..0. $ -454,961.80 $

-._30_1..8...2.8...3..6.

(1) To eliminate tuition waivers not budgeted ancl to reclassify current year transfers ancl prior year funcl balances budgeted as revenues.

See accompanying notes and Inc:lepenc:lent Accountanfs Combined Report on Review of Financial Statements ancl Supplementary Information.
-24-

TOTAL

ADJUSTMENTS

TOTAL

(1)

(Budget Basis)

BUDGET

VARIANCEFAVORABLE (UNFAVORABLE)

$ 28,703,236.00 33,123.915.56 $

$ 28,703,236.00 $ 28,703,236.00 $ -39,181.84 33,084,733.n 35,435,653.00

0.00 -2,350,919.28

$ 61,827,151.56 $

-39,181.84 $ 61,787,969.n $ 64,138,889.00 $ -2,350,919.28

$ 32,552,330.71 359,189.80
8,797,226.16 $ 18,701,597.87
1,805,091.01 317,636.24

$ 32,552,330.71 $ 32,616,129.00 $

359.189.80

821,492.00

-795,972.00

8,001,254.16 18,701,597.87
1,805,091.01 317,636.24

8,227,473.00 19,536,991.00 2,573,410.00
363,394.00

63,798.29 462,302.20
226,218.84 835,393.13 768,318.99
45,757.76

$ 62,533,071.79 $ -795,972.00 $ 61,737,099.79 $ 64,138,889.00 $ 2,401,789.21

$ -705,920.23 $

756,790.16 $

50,869.93

$

50,869.93

-25 -

STATE UNIVERSITY OF WEST GEORGIA SCHEDULE OF REVENUES AND EXPENDITURES COMPARED TO BUDGET
LOTTERY FOR EDUCATION YEAR ENDED JUNE 30. 1996

SCHEDULE "'Z'

see accompanying notes and Independent Accountant's Combined Report
on Review of Financial Statements and SUpplementary Information.
-26-

STATE UNIVERSITY OF WEST GEORGIA SCHEDULE OF OPERATIONS LOAN FUNDS YEAR ENDED JUNE 30, 1996

SCHEDULE "3"

FUND
U. S. GOVERNMENT GRANTS REFUNDABLE
Perkins Loan Fund
INSTITUTIONAL LOANS - RESTRICTED
A and M Class of 1925 Loan Fund Abraham Baldwin Chapter of DAR. Loan Fund Anthropology Loan Fund Black Student Emergency Loan Fund Couch, Samuel J., Memorial Loan Fund Financial Aid Emergency Loan Fund General Loan Fund International Student Loan Fund Kappa Alpha Psi Loan Fund Luck, Thomas E., Memorial Loan Fund Magenheimer Loan Fund Merrell, EIoiae, Memorial Loan Fund Optimist Club of Carrollton Loan Fund Rotary Club Emergency Loan Fund Williams, Mark, Memorial Loan Fund

FUND BALANCE ADDITIONSI

JULY 1,1995

TRANSFERS

DEDUCTIONSI FUND BALANCE TRANSFERS JUNE 30,1996

$ 1,790,006.20 $

58,297.88 $

42,573.11 $ 1,805,730.97

$

18,305,08 $

1,149.24 $

764.91

1,684.79

5.00

340.00

5.00

2,115.02

61.01

6,203.05

1,485.60

58,173.43

6,962.67

451.66

5,288.28

266.95

11,966.45

1,054.69

2,100.00

27,019.16

1,865.56

2,835.01

11.39

12,103.59

690.74

1,362.37

36.60

$

150,712.80 $

13,594.45 $

0.00 $ 0.00 $

19,454.32 764.91
1,689.79 345.00
2,176.03 7,688.65 65,136.10
451.66 5,555.23 13,021.14 2,100.00 28,884.72 2,846.40 12,794.33 1,398.97
164,307.25

$ 1,940.719.00 $

71,892.33 $

42,573.11 $ 1.970.038.22

RECONCILIATION OF STUDENT NOTES RECEIVABLE
Balance July 1, 1995 Add:
Loans to Students

Deduct:

Repayment of Loans

Loans Assigned to Federal Government

Loan Cancellations and Write-Offs

For Bankruptcy

$

For Death

For Law Enforcement Service

For Teaching and Nursing Services

$
3,566.83 2,080.00
128.40 12,552.12

$ 1,846,940.22
619,193.30
$ 2,466,133.52 562,245.n
10,091.11

18.327.35

590,664.23

Balance June 30, 1996

$ 1,875AEl9.29

See accompanying notes and Independent Accountanfs Combined Report on Review of Financial Statements and Supplementary Information.
-27 -

STATE UNIVERSITY OF WEST GEORGIA SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
AGENCY FUNDS YEAR ENDED JUNE 30 1996

SCHEDULE "4"

PAYROLL DEDUCTIONS
F.I.C.A.
Federal Income Tax State Income Tax
Group Insurance Retirement Till( Deferred Annuities Credit Union U. S. savings Bonds West Georgia College Foundation Garnishments MlscefIaneous
EMPLOYER'S CONTRIBUTIONS
F.I.C.A. Group Insurance Retirement
OTHER FUNDS
A.R.A. Postage Activity Fee - Short Courses Ads Ninety American Chemistry Society Archaeo!ogy-Misceflaneous Art Museum seminar Athletic Accounts
Football - Recruitment Expense Chemistry Foundation Clearing Accounts
LockIKey Replacements Music Practice Room Key Deposits Residence HallslBuildings Damages Club Accounts American Association of University Professors Association for the Interdisciplinary Study of
the Arts Bravettes carroll County Sertorna Club Ceramics Club History Club
John Dewey Society
Kiwanis Club Program Printing Physics Club Plant Operations Goff Tournament SHRM Coastal Archaeological center College Development Fund Current Issues - Middle Level Education Department Accounts Academic Support - Enrichment Accounting and Finance Advertising Design Archaeological Curation Art Department High SChoo! Workshops

BALANCE JULY " 1995 . RECEIPTS

BALANCE DISBURSEMENTS JUNE 30, 1996

$ 1,932,533.44 $

1,932,533.44

3,205,296.91

3,205,296.91

$

0.09 1,104,767.40

1,104,767.40 $

0.09

50,364.49 1,235,730.84

1,236,401.76

49,693.57

1,367,820.20

1,367,820.20

848,128.97

848,128.97

228,007.32

228,007.32

598.29

10,165.00

10,250.00

513.29

38,667.48

38,667.48

320.38

11,811.90

11,882.08

250.20

54,323.47

54,186.36

137.11

$

51,283.25 $ 10,037,252.93 $ 10,037,941.92 $

50,594.26

$ 1,932,533.44 $ $ 126,015.14 3,088,091.46
2,876,233.75
$ 126,015.14 $ 7,896,858.65 $

1,932,533.44 3,088,014.60 $ 2,876,233.75
7,896,781.79 $

126,092.00 126,092.00

$

42.49 $

300.00 $

695.97

928.50

694.87

1,3n.2O

22.84

475.61

4,165.93

57,307.90

580.71

3,680.00

6,223.50 371.39

5,881.05 166.44
6.406.78

47.37

1,000.00

1,217.63 39.10 78.82
1,966.05 261.26
1,026.n 47.96 144.84 172.01
9,163.71 918.33

3,780.00 1,388.00
300.00 1,079.55
3.00 500.00 700.00
64.88 15.00 625.00 742.48 1,884.57

56.14 2,063.68
107.90 3.415.84 2,515.73

1,000.00 2,604.15
1,941.25

309.82 $ 579.96 1,649.76
50,742.98
576.99 2,683.13
4,973.85 314.57
6.406.78
1,033.20
483.n 1.427.10
310.40 1,913.06
105.09 1,056.96
428.15 209.72 187.01 185.01 1,237.12 2,802.90
810.55 2,430.90
1.709.78

32.67 1,044.51
422.31 22.84
475.61 10,730.85
3.72 996.87
7,130.70 223.26
14.17
4,513.86
68.42 1,132.54
159.17 469.81 319.81
439.99 8,669.07
245.59 2,236.93
107.90 3,415.84 2,747.20

See accompanying notes and Independent Accountanfs Combined Report on Review of Financial Statements and Supplementary Information.
-28-

STATE UNIVERSITY Of WEST GEORGIA SCHEPULE OF CASH RECEIPTS AND PISBURSEMENTS
AGENCY FUNPS YEAR ENpEP JUNE 30 1996

SCHEDULE -4-

f.l.!.t!P
OTHER FUNPS
Department Accounts Arts ancl SCiences, SChool of Biology Department Businesslfinance Staff Development
career Development Testing Counseling
Christianity ancl Literature DPS Training Economic&-General English Department History Department Management ancl Marketing Department Marketing ancl Real Estate Department MathlComputer SCience Real Estate Department Residence life Staff Development SChool of Business Dean's OffICe SChool of Education Special Projects Dormitory Accounts Bowden Hall Social Fees Broykin Hall Social fees Downs Hall Social Fees Gunn Hall Social Fees Pritchard Hall Social Fees Residence Hall Association Residence Hall Social Fees Roberts Hall Social fees Row Hall Social Fees Strozier Annex Hall Social Fees Tyus Hall Social Fees Watson Hall Social Fees Electric Donations EliZabethan Feast Favero Foreign Language Pay Fratematies ancl Soroities Alpha Gamma Della Alpha Kappa Psi Alpha Xi Della Interfraternity Council Kappa Della Kappa Della Pi Panhellenic Council Phi Alpha Theta Phi Delta Kappa Phi Eta Sigma Phi Kappa Phi Phi Sigma Pi Sigma Nu Sigma Phi Omega Sigma Xi Tau Kappa Epsilon Georgia's Elementary Principals Georgia's Political Heritage Graduate Binclery Fees Gwinnett Festival Singers Intermission Job Fair Jobs Ninety

BALANCE JULY 1,1995

RECEIPTS

BALANCE DISBURSEMENTS JUNE 30,1996

$

6,185.43 $

5,974.77 $

385.98

43,317.24

168.00

671.50

1,774.28

2.695.00

72.10

4,959.57

1,981.28

3.527.00

245.44

450.13

980.00

1.723.69

405.00

1,372.61

2,691.25

1.300.58

488.00

964.67

"575.00

179.00

610.12

2,104.83

14,860.20

1,437.00

939.85

9,211.34

568.90 163.96 537.89 188.62 620.21 1,033.96
706.25 197.30 790.08 817;67 42.36 136.47
99.72 1,045.41

2.316.00 1,312.63 2,643.43 1,418.27 1.992.88 9,131.39 8,125.49 2.965.79 1.231.36
960.00 1.593.00 2,106.75
3,727.01 1.250.00 1,662.32

25.24 18.11 40.43 190.11 26.66 1,354.43 0.29
44.93 281.14 191.95
51.55
706.73 63.85 223.39
1,608.35 319.18
303.72 205.40 3,487.62

142.11 20.00 200.00 190.11 636.00 1,575.00 150.29 8.96 1,600.00
50.00
10.00 636.73
2,380.00 85.00
1,082.00 486.43
1,381.23 780.00
4,790.00

9,428.33 $ "34,267.23
1,916.89 4,521.80 " 5.195.95
72.08 1.121.87
504.08 1,742.32
171.06 245.76
2,699.10 7,913.90 7,738.39
2,884.90 1.476.59 3,181.32 1,606.89 2,613.09 8,370.17
3,672.04 1,428.66 1,750.08 2.410.67 2,149.11
84.37 3,727.01
992.74 1,847.03
124.32 3.74
156.65 125.41 488.32 1,644.07 36.00
8.96 1.565.13
281.14 154.45
14.87
918.46 63.85 2,549.84 277.78 1.115.98 486.43 1,206.31 572.05 3,696.55

2,731.87 9,435.99
839.50 2,552.39
509.87 312.33 173.36 308.26 1,624.61 2,321.54 1.617.52 1,293.91 179.00 15.85 8,383.30 2,412.80
1.795.18 8,125.49
52.10
356.98 860.70
43.03 34.37 83.78 254.81 174.34 1,285.36 114.58
79.80
37.50 35.13 51.55 10.00 425.00
53.55 1,415.57
285.20
478.64 413.35 4,581.07

see accompanying notes and Independent Accountant's Combined Report
on Review of Financial Statements and SUpplementary Information.
-29-

STATE UNIVERSITY OF WEST GEORGIA SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
AGENCY FUNDS YEAR ENDED JUNE 30 1996

B.!t:m
OTHER FUNDS
KJee, Jim, Forum League of Women Voters Ubrary Gifts and MemorIal Funds LlUauer Foundation Mexico Trip Minority Enrichment Orientation Staff Meals President's Discretionary Fund Reading Materials - Special Projects Resume 2000 Retired Employees' Insurance Scholarships
Regents' Opportunity Scholarships Regents' Scholarship Fund Other SCholarships (list on File) Short Courses Hospitality Social SCience Fair Southern Association of Colleges and SChools Student Funds on Deposit Institutional 5ervice Fund International Student Health Insurance Trip TICket Deposit Account Student Georgia Association of Educators Student 5ervices Activities Studies Abroad Summer of 1994 Studies Abroad - Cuernavaca R 1996 Studies Abroad - London R 1995 Studies Abroad - London R 1996 Studies Abroad - Tours R 1995 Studies Abroad - Tours R 1996 Studies in Social SCience Survey of Information System Graduates TIGArt Fund Wesley Foundation West Georgia College Foundation Continuing Education General Athletics Observatory Support Woman and Politics West Georgia College - CCF Whole Language Conference Women's Studies

BALANCE JULY 1,1995

RECEIPTS

BALANCE DISBURSEMENTS JUNE 30,1996

$

303.63 $

4,145.61 $

9.53

55.00

8,737.87

3,248.33

846.01

3,550.00

1,400.00

10.00

42.48

730.60

22.42

45.00

60.00

11,354.20

2,822.03

216,524.26

1,469.08 $ 50.58
365.20 900.00 1,410.00
730.60
20.97 11,354.20 217,483.98

2,980.16 13.95
11,621.00 3,496.01
42.48
22.42 84.03
1,862.31

17,297.53 5,108.12
55.96 153.34

15,003.00 8,300.00 13,149,064.38 38,996.13
194.82 1,500.00

15,003.00 8,300.00 13,159,820.92 32,n5.45
58.94 1,086.23

6,540.99 11,328.80
191.84 567.11

13,740.69 4,410.00
224.22 243.97
28.67
9,845.42
2,060.71
133.87 435.04 129.50
15.58

55,650.24 27,342.00
172.45
300.00
45,738.00
40,295.00 11,493.00 142,076.86
65.00 543.58
1,034.70

52,873.75 26,460.00
172.45 172.05 351.79 28.67 43,002.45 9,845.42 40,225.88 13,553.71 141,336.92 101.30 978.62 109.00 783.28

16,517.18 5,292.00
52.17 192.18
2,735.55
69.12
739.94 97.57
20.50 267.00

47.00 5.84
834.95 2,598.43
8.57 1,897.04
792.56

3,754.31
1,000.00 284.00 80.00 758.20

3,463.81
2,359.11 291.99
50.00

47.00 296.34 834.95 1,239.32
0.58 1,9n.04 1,500.76

$ 159,693.23 $ 14,015,101.54 $ 14,002,781.65 $ 172,013.12

$ 336,991.62 $ 31,949,213.12 $ 31,937,505.36 $ 348,699.38

see accompanying notes and Independent Accountanfs Combined Report
on Review of Financial Statements and Supplementary Information.
-30-

STATE UNIVERSITY OF WEST GEORGIA CASH AND CASH EqUIVALENTS JUNE 30, 1996

SCHEDULE "5"

NONINTEREST BEARING ACCOUNT
Carrollton Federal Bank, Carrollton, Georgia
INTEREST BEARING ACCOUNTS
Carrollton Federal Bank, Carrollton, Georgia
Commercial Analysis Account (5,74%)
NationsBank of Georgia, Carrollton, Georgia
Certificate of Deposit (5,20%)
State of Georgia - Office of Treasury and Fiscal Services State Investment Pool Local Government Investment Pool (5,321 %)
SunTrust Bank, Atlanta, Georgia
Cash Management Pools Board of Regents Short-Term Investment Fund
OTHER
Cash on Hand Petty Cash

$

0,01

$ 4,477,670,81
500,000,00 4,390,421,60

219,213.19

9,587,305,60

26,885,00
$ 9,614,190.61

See accompanying notes and Independent Accountant's Combined Report on Review of Financial Statements and Supplementary Information,
- 31 -

k l~ I<:L",
fj 52

I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I
I

STATE UNIVERSITY OF WEST GEORGIA ACCOUNTS RECEIVABLE JUNE30 1996

SCHEDULE "6"

State Appropriations Allotment from the Board of Regents of the University System of Georgia
Federal Grants and Contracts Research and Instruction StudentAld
State Grants and Contracts Research and Instruction StudentAld
Local Grants and Contracts Research and Instruction
Private Gifts, Grants, and Contracts Research and Instruction StudentAld Other
Other Retumecl Checks Student Accounts Student Notes Vendor Credit Memos Other

CURRENT FUNDS UNRESTRICTED RESTRICTED

LOAN FUNDS

PLANT FUNDS UNEXPENDED

TOTAL

$

330,914.98

$ 330,914.98

$

43,748.63

683,467.07

43,748.63 683,467.07

27,388.76 6,000.00

27,388.76 6,000.00

211.50

211.50

6,167.60 5,974.00

$

13,600.00

.6,167.60 5,974.00 13,600.00

5,599.86 17,461.85
176,106.64 46,270.19

$ 1,875,469.29

5,599.86 17,461.85 1,875,469.29 176,106.64 46,270.19

$

576,353.52 $ nZ,957.56 $ 1,875,469.29 $

13,600.00 $ 3,238,380.37

see accompanying notes and Independent Aceountanfs Combined Report
on Review of Financial Statements and Supplementary Information.
-33-

STATE UNIVERSITY OF WEST GEORGIA CHANGES IN INVESTMENT IN PLANT YEAR ENDED JUNE 30. 1996

Land Buildings Improvements Other Than Buildings Equipment Ubrary Books and Collections

ADDITIONS

BALANCE

CURRENT FUNDS

JULY 1, 1995 UNRESTRICTED RESTRICTED

PLANT UNEXPENDED

$ 554,184.25

46,950,358.42

$ 1,710,328.57

3,075,275.55

125,000.00

9,569,742.62 $ 1,798,930.78 $

80,346.56

27,492.78

7,893,942.88

364,968.61

$ 68,043,503.72 $ 2,163,899.39 $

80.346.56 $ 1,862,821.35

See accompanying notes and Independent Accountanfs Combined Report on Review of Financial Statements and Supplementary Information.
- 34-

SCHEDULE '7"

FUNDS RENEWALS AND REPLACEMENTS

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION

DEDUCTIONS DISPOSALSI DELETIONSI ADJUSTMENTS

BALANCE JUNE 30. 1996

$ 554,184.25

$

341,956.38 $

2,200.00 $.

138.22 49,004,705.15

3,200,275.55

12,689.00

13,100.32

268,409.16 11,233,892.90

8,258,911.49

$

354.645.38 $

15,300.32 $

268,547.38 $ 72.251,969.34

- 35-

STATE UNIVERSITY OF WEST GEORGIA SCHEDULE OF FUND BALANCES
CURRENT FUNDS AND PLANT FUNDS JUNE 30,1996

NET INVESTMENT IN PLANT Investment in Plant Facilities
RESTRICTED Designated for Subsequent Years' Expenditures
UNRESTRICTED Designated For Bus Replacement Reserve For Equipment, Technology and Construction Trust Fund For Intercollegiate Athletics For Inventory Reserve For Renewals and Replacements Reserve For Subsequent Years' Expenditures For Uncollectible Accounts Undesignated Surplus Regular Lottery for Education

RESIDENT INSTRUCTION

CURRENT FUNDS UNRESTRICTED LOTTERY FOR AUXILIARY EDUCATION ENTERPRISES

STUDENT ACTIVITIES

$ $ 166,421,4&
35,045,81

21.86 $

101,247.65 329,375,56

2,141,733,44 $ 444,96

318,309,87 60.00

65,299.57 $ 266,766,86 $

13,182,00 13,203,86 $ 2,572,801,61 $

318,369,87

$ 266.766.86 $

13,203.86 $ 2.572.801,61 $

See accompanying notes and Independent Accountanfs Combined Report on Review of Financial Statements and Supplementary Information.
36

SCHEDULE "8"

RESTRICTED

PLANT FUNDS

UNEXPENDED

LOTTERY FOR RENEWALS AND

REGULAR

EDUCATION REPLACEMENTS

INVESTMENT IN PLANT

TOTAL

$ 72,251,969.34 $ 72,251,969.34

$ 308,174.79

$ 308,174.79

$

86,524.32

1,382,186.78

$

86,524.32

21.86 101,247.65 495,797.04 1,382,186.78 2,460,043.31 35,550.n

$

200.32

_____ $

$

200.32 $

$ 308,174.79 $

200.32 $

....:0;.:,;;.0""-0 0.00 $

1,468,711.10

65,499.89 13,182.00 $ 4,640,053.62

0.00 $

1,468,711.10 $ 72,251.969.34 $ n.200,197.75

- 37-

STATE UNIVERSITY OF WEST GEORGIA SCHEDULE OF REVENUES CURRENT FUNDS YEAR ENDED JUNE 30, 1996

State AppI opriations Allotments from the Board of Regents of the University System of Georgia Regular Special Funding Initiative Lottery Proceeds
Other Revenues Retained Tuition and Fees Matriculation Other
Federal Grants and Contracts Research and Instruction Student Aid Contract Overhead
State Grants and Contracts Research and Instruction Student Aid Contract Overhead
Local Grants and Contracts Research and Instruction
Private Gifts, Grants, and Contracts Research and Instruction Student Aid Contract Overhead
Sales and Services of Educational Activities
Sales and Services of Auxiliary Enterprises
Other Sources Administrative Cost Allowances Cash Over-5hort Commissions Community Education Contracts Donations Fees Insurance Settlement Interest Earned Parking Fines Rents Sales Other

RESIDENT INSTRUCTION

LOTIERYFOR EDUCATION

UNRESTRICTED AUXILIARY
ENTERPRISES

$ 27,632,222.00 363,394.00 $
$ 27,995,616,00 $

407,385.98 407,385,98

$ 12,066,795.00 907,442.00

89,496.18

7,037.69

97.51
172,022.76
20,006.01 -66.98
12,650.04 238,674.18
2,352.38 25,149.00 116,806.05 35,816.78
6,272.00 5,874.83 16.021.61
$ 13.722,447.04

$ 8,343,750.84
-847.56 294,644,27
159,989.13 155,472.25 31,397.00 $ 8.984,405.93

$ 41,718,063.04 $ 407,385.98 $ 8,984,405.93
See accompanying notes and Independent Accountanfs Combined Report on Review of Financial Statements and Supplementary Information.
-38-

SCHEDULE "9"

STUDENT ACTIVITIES

TOTAL

RESTRICTED RESIDENT
INSTRUCTION

TOTAL

$ 27,632,222.00 363,394.00 407,385.98
$ 28,403,001.98

$ 27,632,222.00 363,394.00 407,385.98
$ 28,403,001.98

$ 12,066,795.00 $ 419,153.60 1,326,595.60

$ 12,066,795.00 1,326,595.60

$ 218,518.87 13,321,969.92
89,496.18

218,518.87 13,321 ,969.92
89,496.18

7,037.69

315,768.87 4,703,013.00

315,768.87 4,703,013.00
7,037.69

16,847.25

16,847.25

97.51 172,022.76 8,343,750.84

207,489.02 277,180.74

207,489.02 277,180.74
97.51
172,022.76
8,343,750.84

9.32
11,584.19 70,101.01

20,006.01 -905.22
307,294.31 238,674.18
2,352.38 25,149.00 116,806.05 35,816.78 171,573.32 155,472.25 6,272.00 5,874.83 117,519.62

20,006.01 -905.22
307,294.31 238,674.18
2,352.38 25,149.00 116,806.05 35,816.78 171,573.32 155,472.25 6,272.00 5,874.83 117,519.62

$ 500,848.12 $ 23,207,701.09 $ 19,060,787.67 $ 42,268,488.76

$ 500,848.12 $ 51,610?03.07 $ 19,060?87.67 $ 70,671,490.74

-39 -

STATE UNIVERSITY OF WEST GEORGIA SCHEDULE OF EXPENDITURES BY OBJECT
CURRENT FUNDS YEAR ENDED JUNE 30,1996

PERSONAL SERVICES
Salaries and Wages Employer's Contributions for:
F.tCA Retirement Group Insurance Liability Insurance Unemployment Compensation Insurance Workers' Compensation Insurance
OPERATING EXPENSES
Travel Motor Vehicle Expenses Supplies and Materials Repairs and Maintenance Utilities Rents (Other than Real Estate) Insurance and Bonding Tuition and Scholarships
College Work-8tudy Program Scholarships, Fellowships, Prizes, Awards and Other Other Operating Expenses Publications and Printing Equipment Non-Inventory Computer Charges Software Real Estate Rentals Telecommunications Per Diem, Fees and Contracts Per Diem and Fees Contracts Equipment Motor Vehicle Purchases LeaseJPurchase of Equipment Inventory
OTHER
EQUIPMENT, TECHNOLOGY AND CONSTRUCTION TRUST FUND Other Costs Supplies and Materials Equipment Non-Inventory Software Per Diem, Fees and Contracts Per Diem and Fees Equipment Inventory
See accompanying notes and Independent Accountanfs Combined Report on Review of Financial Statements and Supplementary Information.
-40-

RESIDENT INSTRUCTION

LOTTERY FOR EDUCATION

UNRESTRICTED AUXILIARY
ENTERPRISES

$ 25,004,160.88
1,729,970,58 2,563,281.35 2,720,139.90
228,403.00 9,015,00
297,360.00
$ 32,552,330.71

$ 2,712,303.71 173,846,26 274,328,45 338,764.51
$ 3,499,242.93

$ 345,309.89 59,230,36
1,242,399.97 230,397,24 994,264.81 219,487.36 50,306.87
44,476.32 795,972.00 371,989.99 123,728.87
405,293.20 7,087.63
274,335.74 22,547.28
319,508.75
216,874.21 1,219,285.29
103,380.20 50,209.86 1.701 ,140.32
$ 8,797,226.16

$

24,099.52

58,074,57

444,950.95

73,856.35

745,918,88

85,465.89

60,497.13

1,844,23 486,672.75 308,111.83
1,271,55

10,087,55

4,188.21

315,580.09

54,~.13
1,676,674.34

4,907.00 $ 4,356,257.97

$

469,58

8,162.45 11,066.32

5,500.00

99,801.63

$ 124,999.98

SCHEDULE -10-

STUDENT ACTMTIES

TOTAL

RESTRICTED RESIDENT
INSTRUCTION

TOTAL

$

97,125.66 $ 27,813,590.25 $ 312,310.45 $ 28,125,900.70

1,454.38 413.88 730.68

1,905,271.22 2,838,023.68 3,059,635.09
228,403.00 9,015.00
297,360.00

14,273.77 19,455.54 13,150.04

1,919,544.99 2,857,479.22 3,072,785.13
228,403.00 9,015.00
297,360.00

$

99,n4.eo $ 36,151,298.24 $ 359,189.80 $ 36,510.488.04

$

5,349.40 $ 374,758.81 $ 29,342.04 $ 404,100.85

4.00

117,308.93

1,866.07

119,175.00

81,314.29 1,768,665.21

83,107.35 1,851,772.50

4,988.34

309,241.93

914.21

310,150.14

1,740,183.69

1,740,183.69

26,928.52

331,881.77

3,266.20

335,147.97

330.00

111,134.00

976.00

112,110.00

116.55 12,460.00 86,586.76 28,259.00

46,437.10 1,295,104.75
766,688.58 153,259.42

139,299.11 18,239,639.55
14,464.82 1,819.80

185,736.21 19,534,744.30
781,153.40 155,079.22

11,898.46 1,769.59 3,708.30

427,279.21 7,087.63
280,293.54 22,547.28
638,797.14

29,298.n 10,968.89 4,673.13

450,577.93 7,087.63
291,262.43 22,547.28 643,470.27

28,066.59 33,522.23

298,997.93 2,929,481.86

14,881.42 46,734.00

313,879.35 2,976,215.86

430.94

103,380.20 50,209.86 1,706,478.26

80,346.50

103,380.20 50,209.86 1,786,824.82

$ 325,732.97 $ 13,479,217.10 $ 18,701,597.87 $ 32,180,814.97

$

469.58

8,162.45 11,066.32

5,500.00

99,801.63

$ 124,999.98

$

469.58

8,162.45 11,066.32

5,500.00

99,801.63

$ 124.999.98

- 41 -

STATE UNIVERSITY OF WEST GEORGIA SCHEDULE OF EXPENDITURES BY OBJECT
CURRENT FUNDS YEAR ENDED JUNE 30, 1996

OTHER
SPECIAL FUNDING INITIATIVES Personal Services Salaries and Wages Employer's Contributions for: F./'C.A. Retirement Group Insurance
Other Costs Travel Supplies and Materials Repairs and Maintenance Rents (Other than Real Estate) Insurance and Bonding Other Expenses Publications and Printing Equipment Non-Inventory Software Telecommunications Per Diem, Fees and Contracts Per Diem and Fees Contracts Equipment Inventory

RESIDENT INSTRUCTION

LOTIERYFOR EDUCATION

UNRESTRICTED AUXILIARY
ENTERPRISES

$ 194,892,07

12,988,43 18,754.54 13,004.70

$ 239,639.74

11,675.50 $ 7,422,02
47.00 987.95 250,00 4,212.00 434.34

1,436,01 9,210.86
548,46 2,652,75
645,00

19,328.75 3,661.07 1,482,67

21,681.01 30,452.41
3,407,16

14,389,20

9,246,88

14,106.00

189,923.44

$ 317,636,24 $ 269,203.98

$ 41,667,193,11 $ 394,203.96 $ 7,855,500,90

See accompanying notes and Independent Accountanfs Combined Report on Review of Financial Statements and Supplementary Information,
-42-

SCHEDULE -10"

STUDENT ACTMTIES

TOTAL

RESTRICTED RESIDENT
INSTRUCTION

TOTAL

$ 194,892.07
12,988.43 18,754.54 13,004.70
$ 239,639.74
13,111.51 16,632.88
595.46 3,640.70
250.00 4,857.00
434.34
41,009.76 34,113.48
4,889.83
14,389.20 9,246.88
204,029.44
$ 586,840.22

$ 194,892.07
12,988.43 18,754.54 13,004.70
$ 239,639.74
13,111.51 16,632.88
595.46 3,640.70
250.00 4,857.00
434.34
41,009.76 34,113.48
4,889.83
14,389.20 9,246.88
204,029.44
$ 586,840.22

$ 425.457.57 $ 50,342,355.54 $ 19,060,787.67 $ 69.403,143.21

-43-

STATE UNIVERSITY OF WEST GEORGIA SCHEDULE OF EXPENDITURES BY OBJECT
PLANT FUNDS YEAR ENDED JUNE 30, 1996

SCHEDULE "11"

UNEXPENDED

LOTTERY FOR

REGULAR

EDUCATION

RENEWALS AND REPLACEMENTS

TOTAL

2,574,33 $ 4,780.05

5,668,90 4,780.05

7,624.28

7,624.28

334,602.00

2,041,836.00

12,689.00

19,104.00 21,077.78

362,269.66 $ 2,100,091.01

$

13,672,29

111,327.71

$ 125,000.00

$ 1,442,821.35 $ 420,000.00 $

362,269.66 $ 2,225,091.01

See accompanying notes and Independent Accountant's Combined Report on Review of Financial Statements and Supplementary Information.
- 44-

SECTIONll FINDINGS AND IMPROPER OR QUESTIONED COSTS

STATE UNIVERSITY OF WEST GEORGIA SCHEDULE OF FINDINGS AND IMPROPER OR OUESTIONED COSTS
YEAR ENDED JUNE 30. 1996

STATUS OF PRIOR YEAR FINDINGS AND IMPROPER OR QUESTIONED COSTS

The status of the findings disclosed in the review report for the year ended June 30, 1995, is summarized below:

Audit Control Number

Status ofFindings

554-95-01 554-95-02

Corrective Action Implemented Corrective Action Implemented