ttA Acgoo . ({I Wfo7 ICf1&.L(7 MANAGEMENT REPORT STATE BOARD OF WORKERS' COMPENSATION AN ORGANIZATIONAL UNIT OF THE STATE OF GEORGIA YEAR ENDED JUNE 30, 1997 _-_ _._ - - _.. - .. _. -_.- -..- - - - _ . - - ' - STATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS 254 WASHINGTON STREET ATLANTA, GEORGIA 30334-8400 STATE BOARD OF WORKERS' COMPENSAnON MANAGEMENT REPORT - TABLE OF CONTENTS - LETTER OF TRANSMITTAL SELECTED FINANCIAL INFORMAnON EXlllBITS A ANALYSIS OF CHANGES IN FUND BALANCE BUDGET FUND 2 B SCHEDULE OF FUNDS AVAILABLE AND EXPENDITURES COMPARED TO BUDGET BUDGET FUND 3 CLAUDE L. VICKERS STATE AUDITOR (404) 656-2174 DEPARTMENT OF AUDITS AND ACCOUNTS 254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 November 3,1997 Honorable Zell Miller, Governor Members ofthe General Assembly of Georgia and Members of the State Board of Workers' Compensation Ladies and Gentlemen: As part of our audit ofthe statutory basis fInancial statements of the State of Georgia presented in the Report o/the State Auditor, the general purpose fInancial statements of the State of Georgia presented in the State o/Georgia Comprehensive Annual Financial Report, and the issuance of a Statewide Single Audit Report pursuant to the Single Audit Act Amendments, as of and for the year ended June 30, 1997, we have performed certain audit procedures at the State Board of Workers' Compensation. Accordingly, the fInancial statements and compliance activities of the State Board of Workers' Compensation were examined to the extent considered necessary in order to express opinion as to the fair presentation of the fInancial statements contained in the foregoing documents and to issue reports on compliance and internal control as required by the Single Audit Act Amendments of 1996. This Management Report contains information pertinent to the fInancial and compliance activities ofthe State Board of Workers' Compensation as of and for the year ended June 30, 1997. The particular information provided is enumerated in the Table of Contents. This report is intended solely for the use of management of the State Board of Workers' Compensation. However, this report is a matter of public record and its distribution is not limited. Re7~A CLV:gp Claude 1. Vickers State Auditor SELECTED FINANCIAL INFORMAnON STATE BOARD OF WORKERS' COMPENSATION ANALYSIS OF CHANGES IN FUND BALANCE BUDGET FUND YEAR ENDED JUNE 30, 1997 FUND BALANCE - JULY 1, 1996 Surplus ADDITIONS Adjustments to Prior Year's Accounts Payable Excess of Funds Available over Expenditures ExhibitlB" Reimbursement of Prior Year's Expenditures DEDUCTIONS Unreserved Fund Balance (Surplus) Returned to Office of Treasury and Fiscal Services Year Ended June 30,1996 FUND BALANCE - JUNE 30, 1997 SUMMARY OF FUND BALANCE Surplus EXHIBIT"A" $ 54,378.00 $ 4,943.76 176,225,27 328.47 $ 181,497.50 $ 54,378.00 $ 181,497.50 $ 181,497.50 -2 - STATE BOARD OF WORKERS' COMPENSATION SCHEDULE OF FUNDS AVAILABLE AND EXPENDITURES COMPARED TO BUDGET BUDGET FUND YEAR ENDED JUNE 30, 1997 EXHIBIT"B" FUNDS AVAILABLE REVENUES State Appropriation Other Revenues Retained BUDGET ACTUAL VARIANCEFAVORABLE (UNFAVORABLE) $ 10,702.701.00 $ 10,646.701.00 $ 459.000.00 472,961.70 -56.000.00 13,961.70 $ 11.161,701.00 $ 11,119,662.70 $ -4....:.;2::.:..o;;.;3;.;;;8.:.:.3~0 EXPENDITURES Personal Services Regular Operating Expenses Travel Equipment Computer Charges Real Estate Rentals Telecommunications Per Diem, Fees and Contracts Excess of Funds Available over Expenditures $ 8,666,608.00 $ 8.548,802.20 $ 516,074.00 523,267.96 156,840.00 127,592.92 28.252.00 24,903.90 351,890.00 354.312.04 1,079,835.00 1.078,703.76 207,613.00 182,040.79 154,589.00 103,813.86 117,805.80 -7.193.96 29.247.08 3,348.10 -2,422.04 1,131.24 25.572.21 50,775.14 $ 11,161,701.00 $ 10,943,437.43 $ _ _-=2:...:.1~8,=26:.:3:.:.:.5~7 $ 176,225.27 $ ===1,;,,;7.;;:;6~,2;;:2~5.~27:... -3-