{"response":{"docs":[{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bg8-b2020-belec-p-btext","title":"Griffin-Spalding County School System comprehensive annual financial report, fiscal year ended 2020 June 30","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body.","Griffin-Spalding County School System (Ga.). Finance Department."],"dcterms_spatial":["United States, Georgia, 32.75042, -83.50018"],"dcterms_creator":["Georgia. Department of Audits and Accounts","Griffin-Spalding County School System. Finance Department"],"dc_date":["2020-11-17"],"dcterms_description":["Financial report of the Griffin-Spalding County Board of Education."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Georgia. Department of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Griffin-Spalding County Board of Education (Ga.)--Appropriations and expenditures--Periodicals","Griffin-Spalding County School System--Appropriations and expenditures--Periodicals","Education--Georgia--Griffin--Auditing--Periodicals","Education--Georgia--Spalding County--Auditing--Periodicals","Education--Georgia--Griffin--Finance--Statistics--Periodicals","Education--Georgia--Spalding County--Finance--Statistics--Periodicals"],"dcterms_title":["Griffin-Spalding County School System comprehensive annual financial report, fiscal year ended 2020 June 30"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bg8-b2020-belec-p-btext"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bg8-b2020-belec-p-btext"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records","audits","financial records","financial statements"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"   \n   \nCOMPREHENSIVE ANNUAL FINANCIAL REPORT GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM \nGRIFFIN, GEORGIA FISCAL YEAR ENDED JUNE 30, 2020 \n \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM \nComprehensive Annual Financial Report \nFiscal Year Ended June 30, 2020 \n216 South Sixth Street Griffin, Georgia 30224 \nPrepared by: Finance Department, Griffin-Spalding County School System \n \n TABLE OF CONTENTS \n \nINTRODUCTORY SECTION \n \nLETTER OF TRANSMITTAL......................................................................................... Page i - viii \n \nGFOA CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE .............................. \n \nix \n \nASBO CERTIFICATE OF EXCELLENCE..................................................................... \n \nx \n \nBOARD OF EDUCATION - FUNCTION AND COMPOSITION ................................. \n \nxi \n \nGRIFFIN-SPALDING COUNTY SCHOOL SYSTEM ADMINISTRATIVE STAFF... \n \nxii - xiii \n \nORGANIZATIONAL CHART......................................................................................... \n \nxiv \n \nFINANCIAL SECTION \n \nINDEPENDENT AUDITOR'S REPORT ......................................................................... Page 1 - 3 \n \nREQUIRED SUPPLEMENTARY INFORMATION Management's Discussion and Analysis......................................................................... \n \n4 - 16 \n \nBASIC FINANCIAL STATEMENTS: System-wide Financial Statements: Statement of Net Position............................................................................................ Statement of Activities ................................................................................................ Fund Financial Statements: Balance Sheet - Governmental Funds ......................................................................... Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position.............................................................................. Statement of Revenues, Expenditures, and Changes in in Fund Balances - Governmental Funds ................................................................. Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities .............. Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - General Fund ........................................................ Statement of Fiduciary Assets and Liabilities............................................................. Notes to Financial Statements ......................................................................................... \n \n17 18 \n19 \n20 \n21 \n22 \n23 24 25- \n \nREQUIRED SUPPLEMENTARY INFORMATION Schedule of Proportionate Share of the Net Pension Liability........................................ Schedule of Proportionate Share of Collective Net OPEB Liability............................... Schedule of Contributions for Defined Benefit Pension Plans ....................................... Schedule of Contributions for OPEB .............................................................................. Notes to Required Supplementary Information................................................................ \n \n 59 60 61 \n62 - 63 \n \n COMBINING FUND STATEMENTS AND OTHER SCHEDULES \n \nNonmajor Governmental Funds  Description ................................................................ Combining Balance Sheet - Nonmajor Governmental Funds ......................................... Combining Statement of Revenues, Expenditures, and Changes \nin Fund Balances - Nonmajor Governmental Funds ................................................... Combining Balance Sheet - Other Special Revenue Funds ............................................. Combining Statement of Revenues, Expenditures, and Changes \nin Fund Balances - Other Special Revenue Funds ....................................................... Schedule of Revenues, Expenditures, and Changes in Fund \nBalances - Budget and Actual - Capital Projects Fund ............................................... Schedule of Revenues, Expenditures, and Changes in Fund \nBalances - Budget and Actual - Debt Service Fund.................................................... Schedule of Revenues, Expenditures, and Changes in Fund \nBalances - Budget and Actual - School Nutrition Program ........................................ Combining Schedule of Revenues, Expenditures, and Changes in Fund \nBalances - Budget and Actual - Other Special Revenue Funds ................................... Statement of Changes in Fiduciary Assets and Liabilities .............................................. Schedule of Allotments and Expenditures - By Program - \nGeneral Fund - Quality Basic Education Programs.................................................... \n \n64 - 65 66 \n67 68 - 69 \n70 - 71 \n72 \n73 \n74 \n75 - 79 80 \n81 \n \nSTATISTICAL SECTION \nStatistical Section Introduction ....................................................................................... Comparative Statements of Net Position, Last Ten Fiscal Years.................................... Net Position by Component, Last Ten Fiscal Years ....................................................... Changes in Net Position, Last Ten Fiscal Years ............................................................. Fund Balances, Governmental Funds, Last Ten Fiscal Years......................................... Changes in Fund Balance, Governmental Funds, Last Ten Fiscal Years ....................... Revenues by Source, General Fund, Last Ten Fiscal Years ........................................... Percentage Change in Revenues by Source, General Fund, Last Ten Fiscal Years........ Per Pupil Revenues by Source, General Fund, Last Ten Fiscal Years............................ Assessed Value and Actual Value of Taxable Property, Last Ten Calendar Years ........ Millage Rates of the District, Last Ten Calendar Years.................................................. Principal Property Tax Payers, Current Year and Nine Years Ago ................................ Property Tax Levies and Collections, Last Ten Fiscal Years ......................................... Gross Tax Digest Components........................................................................................ Ratio of Annual Debt Service to Total Governmental Fund Expenditures \nLast Ten Fiscal Years ................................................................................................... Ratio of Net Bonded Debt to Estimated Actual Value and \nGeneral Bonded Debt Per Capita, Last Ten Fiscal Years ............................................ Outstanding Debt by Type, Last Ten Fiscal Years ......................................................... Direct and Overlapping Governmental Activities Debt .................................................. Legal Debt Margin, Last Ten Fiscal Years ..................................................................... Demographics, Latest Census Data.................................................................................. Demographics - Income Statistics, Latest Three Years .................................................. Demographic and Economic Statistics, Last Ten Fiscal Years....................................... Principal Employers, Current Year and Nine Years Ago ............................................... \n \n82 83 84 85 86 87 88 89 90 91 92 93 94 95 \n96 \n97 98 99 100 101 - 102 103 104 105 \n \n Employees of the District, Last Ten Fiscal Years ........................................................... General Fund Operating Statistics, Pupil/Teacher Ratio, Last Ten Fiscal Years............ School Building Information, Last Ten Fiscal Years....................................................... Enrollment Statistics, Last Ten Fiscal Years................................................................... Expenditures by Function, General Fund, Last Ten Fiscal Years................................... Per Pupil Expenditures by Function, General Fund, Last Ten Fiscal Years ................... Free and Reduced Lunch, Last Ten Fiscal Years............................................................ Insurance Coverage of the District.................................................................................. \n \n106 107 108 - 111 112 113 114 115 116 \n \nSINGLE AUDIT, COMPLIANCE AND INTERNAL CONTROL SECTION \n \nIndependent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards.................................. \nIndependent Auditor's Report on Compliance for Each Major Program and Report on Internal Control over Compliance in Accordance with Uniform Guidance......................................................................................................... \nSchedule of Expenditures of Federal Awards .................................................................. Notes to Schedule of Expenditures of Federal Awards.................................................... Schedule of Findings and Questioned Costs ..................................................................... \n \n117 - 118 \n119 - 121 122 123 \n124 - 125 \n \n INTRODUCTORY SECTION \n \n -i- \n \n -ii- \n \n -iii- \n \n -iv- \n \n -v- \n \n -vi- \n \n -vii- \n \n -viii- \n \n Government Finance Officers Association \nCertificate of Achievement for Excellence in Financial \nReporting \nPresented to \nGriffin-Spalding County School System Georgia \nFor its Comprehensive Annual Financial Report \nFor the Fiscal Year Ended June 30, 2019 \nExecutive Director/CEO \n-ix- \n \n The Certificate of Excellence in Financial Reporting is presented to \nGriffin-Spalding County School System \nfor its Comprehensive Annual Financial Report (CAFR) for the Fiscal Year Ended June 30, 2019. \nThe CAFR meets the criteria established for ASBO International's Certificate of Excellence. \n \nClaire Hertz, SFO President \n-x- \n \nDavid J. Lewis Executive Director \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM BOARD OF EDUCATION \nFUNCTION AND COMPOSITION \n \nThe Griffin-Spalding County Board of Education governs all matters relating to education and operations in the Griffin-Spalding County School System, as provided by Georgia law. \n \nThe Board is responsible, through its oversight function, for maintaining a reasonable and uniform system of public schools serving students in grades pre-kindergarten through 12. With the advice of the Superintendent, the Board determines policies and prescribes rules and regulations for the management of the school system. This includes, but is not limited to, adopting system wide goals and objectives, developing a financial budget for the school year, and receiving regular reports on the progress of serving students and families through out the year. \n \nThe Board currently consists of five members elected from single member districts. The Board has independent taxing authority for the purpose of funding public education inside Spalding County, Georgia. \n \nRegular meetings of the Board of Education are held on the first Tuesday of each month beginning at 6:00 p.m. and workshops are held on the third Tuesday of each month at 4:00 p.m. in the Board meeting room of the main administration building located at 216 South Sixth Street, Griffin, Georgia. Special meetings may be called at other times by the Board Chairperson. At all meetings, a majority of the entire membership constitutes a quorum. All meetings are open to the public. \n \nThe Board elects a Chairperson and Vice-Chairperson annually from its members. \n \nAs of June 30, 2020, the members of the Board of Education and dates of expiration of their terms are as follows: \n \nTerm Name__________________________Title_______________Expiration \n \nMr. William B. Doss Mr. Zachery B. Holmes Mr. Syntel Brown Mrs. Barbara Jo Cook Ms. Sue McDonald \n \nChairperson Vice-Chairperson Member Member Member \n \n12/31/24 12/31/22 12/31/22 12/31/24 12/31/22 \n \n-xi- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM ADMINISTRATIVE STAFF As of June 30, 2020 \n \nEXECUTIVE ADMINISTRATION James D. Smith Dr. Kiawana Kennedy Joanie Mullins \n \nSuperintendent of Schools Deputy Superintendent Administrative Assistant to Superintendent \n \nDIVISION OF INSTRUCTIONAL SERVICES \n \nSara Jones \n \nExecutive Director of Instruction \n \nAshley Crawford \n \nDirector of K-12 Curriculum \n \nMichele Jones \n \nDirector of School Improvement \n \nMelvina Crawl \n \nDirector of Professional Development \n \nCharles Kelley \n \nDirector Program Evaluation and \n \nAssessment/Special Education \n \nAshley McLemore \n \nDirector of Federal Programs \n \nDIVISION OF ADMINISTRATIVE SERVICES \n \nAnthony Aikens \n \nExecutive Director of Administrative Services \n \nBruce Ballard \n \nDirector of Facilities and Construction \n \nTodd Harris \n \nDirector of Pupil Transportation \n \nRobert Wheeler \n \nDirector of Nutrition Services \n \nLarry Jones \n \nDirector of Student Services \n \nLonny Harper \n \nDirector of Instructional Technology \n \nJosh Griffis \n \nDirector of Administrative Technology \n \nDIVISION OF ELEMENTARY EDUCATION \n \nDr. Norman Sauce \n \nExecutive Director of Elementary Education \n \nDr. Chris Bearden \n \nDirector of Pre-Kindergarten/ELL \n \nDIVISION OF SECONDARY EDUCATION \n \nDr. Donald Warren \n \nExecutive Director of Secondary Education \n \nLaura Ergle \n \nDirector of GRCCA and CTAE \n \nFINANCE Byron Jones \n \nChief Financial Officer \n \nHUMAN RESOURCES Stephanie Dobbins Edna Aikens \n \nExecutive Director of Human Resources Assistant Director of Human Resources \n \nSCHOOL AND COMMUNITY SERVICES \n \nVacant \n \nExecutive Director of Communications and \n \nPartnerships \n \n-xii- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM ADMINISTRATIVE STAFF (continued) As of June 30, 2019 \n \nSCHOOL PRINCIPALS Dr. Seabrook Royal Tiffany Campbell Dr. Renee Mallard Dr. Holly Harvill Amie Chambers Ben Steele Julie Robinson Dottie English Dr. Gloria Brodie Misty Garvin Dr. Stephanie Evans Naja Douglas Derrick Dalton Dr. Gregory Gardner Laura Jordan Dr. Tyrone Kellogg Lindy Pruitt Joshua Pittman \n \nAnne Street Elementary School Atkinson Elementary School Beaverbrook Elementary School Cowan Road Elementary School Crescent Road Elementary School Futral Road Elementary School Jackson Road Elementary School Jordan Hill Road Elementary School Moore Elementary School Moreland Road Elementary School Orrs Elementary School Carver Road Middle School Cowan Road Middle School Kennedy Road Middle School Rehoboth Road Middle School Griffin High School Spalding High School A.Z. Kelsey Academy \n \nLEGAL COUNSEL Timothy N. Shepherd, P.C. \nINDEPENDENT AUDITORS Robinson, Grimes \u0026 Company, P.C. \n \nGriffin, Georgia Columbus, Georgia \n \n-xiii- \n \n -xiv- \n \n FINANCIAL SECTION \n \n Independent Auditor's Report \nThe Board of Education Griffin-Spalding County School System Griffin, Georgia \nReport on the Financial Statements \nWe have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of Griffin-Spalding County School System, as of and for the year ended June 30, 2020, and the related notes to the financial statements, which collectively comprise Griffin-Spalding County School System's basic financial statements as listed in the table of contents. \nManagement's Responsibility for the Financial Statements \nManagement is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. \nAuditor's Responsibility \nOur responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. \nAn audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the government's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the government's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. \n5637 Whitesville Rd. P.O. Box 4299, Columbus, Georgia 31914  Telephone 706-324-5435  Fax 706-324-1209  Email info@robinsongrimes.com Members of: American Institute of CPAs and related Private Companies Practice Section, \nEmployee Benefit Plan Audit Quality and Government Audit Quality Center  Center for Audit Quality  Georgia Society of CPAs  CPAmerica International  www.robinsongrimes.com \n-1- \n \n The Board of Education Griffin-Spalding County School System Page Two \nWe believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. \nOpinions \nIn our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of Griffin-Spalding County School System, as ofJune 30, 2020, and the respective changes in financial position thereof and the respective budgetary comparison for the General Fund for the year then ended in accordance with accounting principles generally accepted in the United States of America. \nOther Matters \nRequired Supplementary Information \nAccounting principles generally accepted in the United States of America require that the management's discussion and analysis on pages 4through16and other required supplementary information on pages 57 through 6be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statementsin an appropriate operational, economic, or historical context. We have applied certain limited proceduresto the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods ofpreparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. \nOther Information \nOur audit was conducted for the purpose of forming opinions on the financial statements that collectively compriseGriffin-Spalding County School System's basic financial statements. The introductory section, combining nonmajor fund financial statements and other schedules, statistical tables and the Schedule of Expenditures of Federal Awards, requiredby theTitle 2 U.S. Code of Federal Regulations (\"CFR\") Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (\"Uniform Guidance\"),are presented for purposes of additional analysis and are not a required part of the basic financial statements. \n-2- \n \n The Board of Education Griffin-Spalding County School System Page Three \nThe combining nonmajor fund financial statementson pages 6through 7, and other scheduleson pages and 8,and the Schedule of Expenditures of Federal Awardson page 12are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financialstatements. Suchinformation has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling suchinformation directly to the underlying accounting and other records used to prepare the basic financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In ouropinion, the combining nonmajor fund financial statements and other schedules and the Schedule of Expenditures of Federal Awardsare fairly stated in all material respects in relation to the financial statements as a whole. \nThe introductory section on pages i through xiv and statistical sectionon pages 8through 11are presented for purposes of additional analysis,havenot been subjectedto the auditing procedures applied in the audit of the financial statements and, accordingly, we do not express an opinion or provide any assurance on them. \nOther Reporting Required by Government Auditing Standards \nIn accordance with Government Auditing Standards,we have also issued our report datedNovember 17, 2020on our consideration of Griffin-Spalding County School System's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on theeffectiveness of the System'sinternal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standardsin considering Griffin-Spalding County School System's internal control over financial reporting and compliance. \nCertified Public Accountants \nColumbus, Georgia \nNovember 17, 2020 \n-3- \n \n Griffin-Spalding County School System Management's Discussion and Analysis \nFor the Year Ended June 30, 2020 \nThe discussion and analysis of Griffin-Spalding County School System's (herein referred to as the \"System\") financial performance provides an overall review of the System's financial activities for the fiscal year ended June 30, 2020. The intent of this discussion and analysis is to look at the System's financial performance as a whole. Readers should also review the financial statements and notes to the financial statements to enhance their understanding of the System's financial performance. \nFinancial Highlights \n The assets of the System exceeded its liabilities at June 30, 2020, by $47,571,347. \n Net position increased by a total of $5,679,534 from the beginning of the year. The increase is attributable to Special Purpose Local Option Sales Tax (SPLOST) revenue which financed investments made in capital assets during the year and increases in state revenues coupled with a decrease in certain expense categories related to the coronavirus pandemic. \n The System-wide Statement of Net Position includes the employer's proportionate share of pension liabilities in accordance with GASB 68 and the net Other Post-employment Benefits (OPEB) liability in accordance with GASB 75. Net pension liability as of June 30, 2020, was $103,486,731. Net OPEB liability as of June 30, 2020, was $77,432,697. \n At June 30, 2020, the System's General Fund reported a fund balance of $20,754,415, an increase of $2,698,185 from the prior fiscal year. Of this total, $559,064 has been committed to the risk management function in compliance with GASB 54. Unassigned fund balance totaled $20,195,351. \n SPLOST collections in fiscal year 2020 increased 8.11% as compared to collections in fiscal year 2019. \n The System's current general obligation bond indebtedness, net of related premiums, is $6,784,515. Principal and interest debt service payments were made in FY20 in the amount of $4,900,000 and $434,602, respectively. \nOverview of the Financial Statements \nThis discussion and analysis is intended to serve as an introduction to the System's basic financial statements. The basic financial statements comprise three components: 1) System-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. \n-4- \n \n System-wide Financial Statements \nThe System-wide financial statements are designed to provide readers with a broad overview of the System's finances in a manner similar to a private-sector business. \nThe Statement of Net Position presents information on all of the System's assets and liabilities with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the System is improving or deteriorating. It is important to note that this statement consolidates the System's current financial resources (short-term) with capital assets and long-term liabilities. \nThe Statement of Activities presents information showing how the System's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will result in cash flows in future fiscal periods (e.g. uncollected taxes, etc.) \nFund Financial Statements \nA fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The System, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the System can be divided into two categories: governmental funds and fiduciary funds. \nGovernmental Funds \nMost of the System's activities are reported in governmental funds focusing on how money flows in and out of those funds and the balances left at year-end available for spending in future periods. The governmental fund statements provide a detailed shortterm view of the System's general government operations and the basic services it provides. Governmental fund information helps determine whether there are more or less financial resources that can be spent in the near future to finance educational programs. \nFiduciary Funds \nThe System is the trustee, or fiduciary, for assets that belong to others such as club and class funds and payroll withholding funds. The System is responsible for ensuring assets reported in these funds are used only for their intended purposes and by those to whom the assets belong. \n-5- \n \n Notes to Financial Statements \nThe notes provide additional information that is essential to a full understanding of the data provided in the system-wide and fund financial statements. \nSystem-wide Financial Analysis \nAs noted earlier, net position may serve over time as a useful indicator of a government's financial position. As of June 30, 2020, System assets exceeded liabilities by $47,571,347. \nAssets By far, the largest portion the System's total assets (73.60 percent) reflects its investment in capital assets (e.g. buildings, land, machinery and equipment, construction in progress) net of depreciation related to those assets. The System uses the capital assets to provide services to our students, faculty, and community; consequently, these assets are not available for future spending. Capital asset increases are directly related to the continued investment of Special Purpose Local Option Sales Tax (SPLOST) revenues into renovation work, buses, and instructional technology. Current and other assets held relatively steady compared to the prior year. Cash and cash equivalents and property taxes receivable were slightly lower than FY19. \nDeferred outflows and inflows of resources Deferred outflows of resources represents a consumption of resources that applies to a future period and therefore will not be recognized as an outflow of resources until then. Deferred inflows of resources represents an acquisition of resources that applies to a future period and therefore will not be recognized as an inflow of resources until that time. These two financial statement elements represent the System's contributions to the pension plans and other post-employment benefits as well as the changes in assumptions and actuarial values of those plans. Deferred outflow of resources increased $10,370,294 and deferred inflow of resources increased $4,763,131 based on the changes in the contributions and actuarial values. Note 11, Retirement Plans, and Note 12, Other PostEmployment Benefits (OPEB) provide details for the calculation of these amounts. \nLiabilities Liabilities included significant changes in three areas: bonds payable, proportionate share of net pension liability and proportionate share of net OPEB liability. Bonds payable decreased due to the payment of $4,900,000 in principal during FY20. Proportionate share of net pension liability and net OPEB liability represent the System's share of state pension plans (e.g. TRS, ERS, PSERS) and health insurance (State Health) for retirees. These liabilities are based on actuarial values provided by the respective pension plans and State Health Benefit Plan. Note 11, Retirement Plans, and Note 12, Other Post-Employment Benefits (OPEB) provide details for the calculation of these amounts. \n-6- \n \n The following chart details the major categories of assets, liabilities, and net position with a comparison to the prior fiscal year. \n \nGriffin-Spalding County School System Net Position  as of June 30, 2020 and 2019 \n \nGovernmental Activities \n \nFY 2020 \n \nFY 2019 \n \nCurrent and other assets Capital Assets \nTotal assets \n \n$ \n \n63,642,298 \n \n177,487,835 \n \n241,130,133 \n \n$ 65,514,579 171,530,339 237,044,918 \n \nDeferred Outflows of Resources \n \n33,919,023 \n \n23,548,729 \n \nCurrent and other liabilities Long-term liabilities \nTotal liabilities \n \n22,019,058 180,919,428 202,938,486 \n \n20,361,524 178,564,118 198,925,642 \n \nDeferred Inflows of Resources \n \n24,539,323 \n \n19,776,192 \n \nNet Position: Net investment in capital assets Restricted Unrestricted \nTotal net position, as restated \n \n170,703,320 \n \n24,450,567 \n \n(147,582,540) \n \n$ \n \n47,571,347 \n \n159,507,762 28,995,707 (146,611,656) $ 41,891,813 \n \nNet Position The System's total net position represents resources that are subject to external restrictions on how they may be used. Comprising the majority of restricted net position are assets being accumulated for use in capital projects accounting for 61.39% of total restricted net position. The remaining 38.61% of restricted net position represents funds set aside for debt service payments, non-expendable, permanent funds and funds set aside for the continuation of federal and other programs. \n \nUnrestricted net position includes the school system's proportionate share of the collective net pension liability in each cost sharing benefit plan in which the district participates. For the second year, the net Other Post-employment Benefits (OPEB) liability was also recorded to reflect the school system's share of healthcare benefits for retirees. The net pension liability was first recorded on the FY2015 system-wide financials as part of the implementation of GASB 68. The net OPEB liability was recorded in FY2018 as part of the implementation of GASB 75. Because of these changes, the System continues to report a deficit unrestricted net position on the Systemwide Statement of Net Position. \n \n-7- \n \n Changes in Net Position from Operating Results Net position increased $5,679,534 from operating results in the fiscal year ended June 30, 2019, compared to an increase of $9,680,357 in the prior fiscal year. Revenues In 2020, the System's total revenues increased $6,854,397 (5.44%) over FY19. \n Operating grants and contributions increased by 6.40%, or $5.50 million, primarily due to an increase in the State QBE funding formula which takes into account student growth (FTEs) and increased funding for salary and benefit costs. The primary driver of additional QBE funds was an increase in the employer's contribution to the Teachers Retirement System of Georgia (TRS), which is in the funding formula and increased from 20.90% to 21.14%, and appropriations for a certified employee salary increase of $3,000. \n General property taxes increased $1,177,780. Ad valorem taxes showed a steady increase while Title Ad Valorem Taxes (TAVT), a tax on motor vehicles, increased as well. \n Special Purpose Local Option Sales Tax (SPLOST) increased 8.10%, or $.78 million, due to strong growth in spending in the local economy. \n Investment earnings decreased 46.31%, or $.46 million, as interest rates on the GA Fund I investment pool declined from 2.41% to .25% on higher average account balances. \nExpenses In 2020, the System's total expenses increased $10,855,220 (9.33%) over FY19. \n Pension expense and OPEB expense increased $7.8 million. This expense is spread out among the functional categories. \n Salary expense increased due to longevity steps on the state salary schedule for certified employees, a $3,000 raise to the certified employee salary schedule and a 3% raise to the classified employees salary schedule. \nKey elements of the increase are as follows on the next page: \n-8- \n \n Griffin-Spalding County School System Changes in Net Position from Operating Results \n \nRevenues Program revenues: \nOperating grants and contributions Charges for services \nGeneral revenues: Property taxes Special purpose local option sales tax Other general revenues Total revenues \nExpenses Instruction Pupil support services Improvement of instructional services Educational media services General and school administration Business administration Maintenance and operation of plant Student transportation services Central support services Other support services Food service operations Community services operations Interest on long-term debt Unallocated depreciation Total expenses \n \nGovernmental \n \nActivities \n \nFY 2020 \n \nFY 2019 \n \nChange \n \n$ 91,719,126 927,767 \n \n$ 86,216,523 1,055,032 \n \n6.4% -12.1% \n \n29,129,366 10,477,785 \n536,842 132,790,886 \n \n27,951,586 9,691,463 1,021,885 \n125,936,489 \n \n4.2% 8.1% -47.5% 5.4% \n \n75,215,130 4,447,710 8,089,474 2,024,187 \n12,528,963 476,366 \n9,577,328 5,398,687 1,817,420 \n902,432 5,830,234 \n243,947 35,041 524,433 \n127,111,352 \n \n67,870,442 3,508,379 7,030,486 1,690,025 11,067,871 466,909 9,405,687 5,331,174 1,716,182 1,013,974 6,104,243 216,000 392,440 442,320 \n116,256,132 \n \n10.8% 26.8% 15.1% 19.9% 13.2% 2.0% 1.8% 1.3% 5.9% -11.0% -4.5% 12.9% -91.1% 18.6% 9.3% \n \nIncrease in net position \n \n5,679,534 \n \nNet position, beginning of year \n \n41,891,813 \n \nNet position, end of year \n \n$ 47,571,347 \n \n9,680,357 32,211,456 $ 41,891,813 \n \n13.6% \n \n-9- \n \n Financial Analysis of the System's Funds \nGeneral Fund Budgetary Highlights \nThe System's budget is prepared in accordance with Georgia law and is based on accounting for certain transactions on the modified accrual basis of accounting. The System uses site-based budgeting and the budgeting system is designed to tightly control site budgets but provide flexibility for site management. \nThe most significant budgeted fund is the general fund. The original fiscal year 2020 budget, as adopted, did not project a use of fund balance. The amended budget did use fund balance in the amount of $667,761. Revenues were projected to be $98,867,939 and expenditures and other financing uses were projected to be $98,867,939. These amounts represented an increase of 5.04% from fiscal year 2019 actual revenues and an increase of 5.77% from fiscal year 2019 actual expenditures. The System's earnings under the State's Quality Basic Education (QBE) funding formula remained steady. With sustained revenue growth, the Georgia General Assembly was able to eliminate the \"amended formula adjustment,\" which has negatively impacted the funding formula for sixteen years. This formula adjustment effectively decreased the amount of funding earned by school systems according to the QBE formula in order to meet state revenue projections. With the increase in funding, however, came increases in mandated costs. These costs included the required longevity steps on the state salary schedule for certified employees, a $3,000 raise to the certified employee salary schedule and an increase in the employer's contribution to the Teachers Retirement System of Georgia (TRS) from 20.90% to 21.14%. Classified employees received a raise of 3% to their respective salary schedules. The System also received additional state funds from the equalization grant due to the System's decrease in rankings comparing the relative property wealth per student among Georgia school districts. Budgeted revenues for property taxes and the Title Ad Valorem Tax increased to reflect a decrease in exemptions for industrial properties and an upward trend in the collection of taxes from the sale of motor vehicles. The Board of Education adopted a local property tax millage rate of 17.077, a decrease of .989 mills. \nThe final amended general fund budget added $1,252,049 to revenues, an increase of 1.26% from the original budget for the year. The amended budget included an increase to state revenues. With revenues through the QBE funding formula increasing, the net result was positive since the school system has health insurance costs that far exceed the amount allotted in the formula. Along with the increase in state funds, local revenues were amended to reflect better collections of property tax and Title Ad Valorem taxes as well as rising investment revenues associated with higher interest rates. Amended revenues also included the addition of several local and state grants received during the year. \nThe original budget for fiscal year 2020 included appropriated expenditures of $98,867,939. The original budget included funding for a 175 day instructional calendar with teachers working 190 days, a longevity step for all eligible employees, a $3,000 raise to the certified employee pay schedule and an increase to the employer's contribution rate to the Teachers Retirement System of Georgia from 20.90% to 21.14%. FY20 funding initiatives also included the third phase of the development of \n-10- \n \n comprehensive curriculum guides, school resource officers at middle and high schools, and transfers to subsidize the nutrition and Pre-Kindergarten programs. \nAs the year progressed, an amended budget totaling $99,452,227 was approved by the Board of Education, an increase of $584,288 in appropriated expenditures. For internal budgeting purposes, the self-insured workers compensation fund and after-school program are maintained separate from the general fund; however, the amended budget includes collapsing these two accounts into the general fund for the preparation of financial statements. Similar to the revenue side, additional expenditures include several local and state grants received during the year. \nGeneral Fund Operations \nThe general fund finished fiscal year 2020 with a fund balance of $20,754,415, an increase of $2,698,185 from fiscal year 2019. $559,064 of the fund balance was committed to the risk management function in compliance with GASB 54. Actual revenues exceeded budget projections by $1,011,708 while actual expenditures were $1,007,324 lower than budgeted. \nLocal revenue sources represented 29.64% of total general fund revenues for the year, down from 31.18% in the prior year. Local revenues exceeded budgeted projections by $1,083,041. Ad valorem property taxes exceeded the budgeted amount by $1,053,101. Property taxes are dependent on collection rates of current and prior years while the Title Ad Valorem Tax relates to the volume of vehicles sold during the year. Property taxes held relatively flat while Title Ad Valorem Tax collections increased significantly. State revenues came in on target with the budget difference representing some unused grant funds. Federal revenues are comprised of two items, Medicaid reimbursements for speech services and funding for the Junior Reserve Officers' Training Corps (JROTC) program. Federal revenues increased slightly while compared to the previous operating year. \nAt year end, total expenditures were under budget by $1,007,324. Expenditures for direct classroom instruction (e.g. teacher salaries and benefits, textbooks, classroom supplies, etc.) accounted for 61.72% of total general fund expenditures, slightly down from the prior fiscal year. Savings in expenditures were spread out among the functional categories. Areas of savings include personnel changes that occur from the time of budget adoption to the end of the year. The budget is a snapshot at one point in time and the school system experiences a significant amount of change in personnel over the summer and throughout the year. This change can lead to savings in salaries as new personnel fill positions held by retirees, people add or drop health benefits, or positions remained unfilled for a period of time. One large area of savings came with the costs associated with reduced transportation and maintenance expenses due to the coronavirus pandemic. \n-11- \n \n The following chart details the major components of revenues and expenditures by function for fiscal year 2020, a comparison of changes with the previous fiscal year, and the change in fund balance for the general fund. \nGriffin-Spalding County School System General Fund - Revenue and Expenditures Comparison \n \nRevenues State Federal Local and other Total revenues \n \nAmount \n \n% of Total \n \n$ 70,722,124 611,847 \n30,051,834 101,385,805 \n \n69.76 0.60 \n29.64 100.00 \n \nIncrease (Decrease) \nOver FY2019 \n$ 6,286,623 107,537 \n1,278,318 7,672,478 \n \nExpenditures Instruction Pupil support services Instructional staff support Media Services General and school administration Business administration Maintenance and Operations Student Transportation Other support services Community services School Nutrition Services Total expenditures \n \n60,455,517 61.72 \n \n2,406,673 \n \n2.46 \n \n5,137,012 \n \n5.24 \n \n1,759,939 \n \n1.80 \n \n10,694,600 10.92 \n \n452,371 \n \n0.46 \n \n9,289,854 \n \n9.48 \n \n4,853,453 \n \n4.96 \n \n2,602,972 \n \n2.66 \n \n229,785 \n \n0.23 \n \n66,836 \n \n0.07 \n \n$ 97,949,012 100.00 \n \n2,589,145 275,967 \n1,014,836 91,283 \n315,073 -27,745 815,338 -448,753 -65,807 14,563 \n129 $ 4,574,029 \n \nOther Financing Sources (Uses) Transfers in/(out) Total other financing sources (uses) \n \n(738,608) (738,608) \n \nNet change in fund balance \n \n$ 2,698,185 \n \n-12- \n \n General fund  changes in fund balance \nState revenues increased $6.28 million due to funding for an increase to the cost of contributions to the Teachers Retirement System of Georgia and the elimination of the amended formula adjustment. State revenues also increased with the implementation of a $3,000 raise to the certified salary scale for teachers. Increases in Title Ad Valorem Tax collections combined with increases in investment earnings comprise the bulk of the change in local revenues. \nThe largest impact to functional categories was the increase in the TRS contribution rate (20.90% to 21.14%) and adjustment to the certified salary schedule for teachers. The increase in the cost of TRS for the general fund was spread out among the functional categories. The increase in the certified salary schedule for teachers was primarily related to the instructional function increases. Other factors in the changes between years include the following: \n Direct instruction includes several additional teachers. Instructional staff also received a longevity step (pay increase) on their respective salary schedules and a certified salary increase of $3,000. Classified employees received a 3% increase to their salary schedule. \n Instructional staff support includes the third phase of a significant investment toward the development of curriculum guides following the Rigorous Curriculum Design (RCD) process. \n Maintenance and operations and transportation, which have few expenditures related to TRS, include a longevity step (pay increase) on the salary schedule for eligible employees and an increase in health insurance expenditures for classified employees. \nCapital Projects Fund Operations \nThe capital projects fund is used to account for school construction and the purchase of large capital assets. Current capital construction costs continue to be paid directly from prior receipts collected during the 2007 SPLOST (SPLOST III) and 2012 SPLOST (SPLOST IV) cycles and current receipts from the 2015 SPLOST (SPLOST V). SPLOST collections in fiscal year 2020 increased 8.10% compared to fiscal year 2019 with receipts of $10,477,785 and $9,691,463, respectively. \nCapital project expenditures primarily consisted of renovation work on SPLOST V projects. These projects included the Griffin Region College and Career Academy, Memorial Stadium, and A.Z. Kelsey Academy. Expenditures also included instructional technology and school buses. The fund balance for the capital projects fund reflects amounts collected for use on projects not yet begun. \n-13- \n \n Debt Service Fund Operations \nThe debt service fund is used to accumulate resources for the retirement of long-term debt. The System issued general obligation sales tax bonds in the amount of $13,370,000 in FY16 for capital projects to fund the initial construction of the Griffin Region College and Career Academy, the installation of system-wide instructional technology and bus purchases. The fund reflects principal and interest payments in the amount of $4,900,000 and 434,602, respectively. \n \nCapital Assets and Debt Administration Capital Assets \n \nThe System's investment in capital assets for its governmental activities as of June 30, 2020, totaled $177,487,835, net of accumulated depreciation. The investment in capital assets includes land, buildings, vehicles, and equipment used in providing services to our students and community as well as construction in progress on several building projects. \n \nMany of the changes to the System's capital asset accounts came from the renovation of existing buildings. Renovation work at Memorial Stadium, Griffin Region College and Career Academy, and A.Z. Kelsey Academy constituted the majority of the year's activity. Note 4 to the basic financial statements provides additional information on the System's capital assets including a detailed breakdown of the types of capital assets included in the computation of depreciation charges. As of June 30, 2020, 28.42% of the cost basis of depreciable assets had been taken as a depreciation charge since the various assets were placed in service. A summary of capital assets follows. \n \nGriffin-Spalding County School System Capital Assets, Net of Accumulated Depreciation \n \nGovernmental Activities \n \nFY 2020 \n \nFY 2019 \n \nLand Construction in progress Buildings Building Improvements Vehicles and Equipment \n \n$ 3,369,353 8,456,782 95,992,762 61,529,685 8,139,253 \n \n$ 3,365,294 1,347,670 97,738,338 61,600,128 7,478,909 \n \nTotal \n \n$ 177,487,835 $ 171,530,339 \n \n-14- \n \n Debt Administration \nThe Griffin-Spalding County School System issued General Obligation Sales Tax Bonds, Series 2015, in July 2015. The proceeds of this bond issuance has gone toward the following 2015 SPLOST (SPLOST V) projects: Griffin Region College and Career Academy, the System-wide installation of the Audio Enhancement classroom technology product, and bus purchases. \nAt June 30, 2020, the System had $6,784,515 in outstanding general obligation bond indebtedness, net of related premiums. The current debt limitation for the System is $147,703,041 based on state law limiting the amount of general obligation debt a government entity may issue to ten (10) percent of the total assessed value of taxable property. \nThe System maintains a rating of AA from Standard \u0026 Poor's for general obligation debt subject to the State intercept program. \nAdditional information on the System's long-term debt can be found in Note 5 to the basic financial statements. \nOutlook for the Future \nThe System continues to maintain a strong financial position. As the economic position of the State has improved, so has the funding for the school system. FY20 saw the elimination of the cut to the State funding formula, known as the \"amended formula adjustment.\" This cut existed since 2003 and its elimination was a welcome sign of an improving economy. The largest increases in funding were tied to increases in mandated costs such as the employer's contribution to the Teachers Retirement System of Georgia, a $3,000 raise to the certified employee salary schedule and longevity steps on the state salary schedule for certified employees (e.g. teachers). Throughout the past year, state revenues continued to improve prior to the onset of the coronavirus pandemic. With the virus lingering into FY21, the state implemented an austerity reduction to all districts in GA. The Federal government allowed the school district to apply for CARES federal stimulus funds to offset reductions of state funding into the next fiscal year. Month to month growth in state revenues has slowed; likewise, funding for public education is not expected to increase. \nThe assessed net value of the county property digest increased approximately 4.0% in 2020 due to a large amount of property revaluations. Taxable property from new growth increased $28.9 million in the 2020 tax digest, but some of the increase was offset by an increase in exemptions. As part of the 2019 tax digest, voters in the county approved an assessment freeze on the value of property for seniors aged 65 and older. The school system will have to monitor the impact of the freeze since the state funding formula disregards local exemptions when calculating the value of 5 mills of tax (Local Five Mill Share) removed from the state allotment to the school system. The increase in the tax digest typically has an inverse relationship with funding the system receives through the Equalization Grant, a significant source of funding. The grant can have large shifts from \n-15- \n \n one year to the next, so the System will have to be prepared for movement in this allocation. \nEffective for FY20, the State changed the allocation percentages to local governments for the Title Ad Valorem Tax (TAVT). TAVT works in a similar manner as a sales tax on motor vehicles and is incrementally replacing motor vehicle property taxes on the tax digest. TAVT has shown very strong increases year over year. The change in the allocation percentage is a beneficial shift to local governments and is expected to result in a sizable increase in TAVT revenues for the Griffin-Spalding County School System. The first few months of collections have shown this to be the case. The increase in this revenue source is anticipated to offset potential declines in state funding based on the increases in Local Five Mill Share and declines in the equalization grant funding. \nThe Board of Education adopted a millage rate of 16.742 mills, a decrease of .335 mills. This millage rate is the rollback rate that takes into account digest growth from revaluations. By adopting the rollback rate, the System negates the effect of the increased digest from revaluations. While negating the portion of growth from revaluations, the System will receive approximately $492,000 in additional property taxes from new growth. The Board of Education will continue to be mindful in obligating funds for programs and uses that might be needed to cover expenses not funded through state appropriations. \nAs of June 30, 2020, the General Fund reflected a fund balance of $20,754,415, translating to 78 days of operation based on the fiscal year 2021 budget. Of this balance, $559,064 was committed for risk management purposes by the Board of Education. Through careful planning, the System has been able to make intentional investments in the instructional program without having to resort to drastic changes from one year to the next. The fiscal year 2021 budget includes a 175 day student calendar with 190 work days for teachers, a longevity step for eligible employees on employee pay scales, and support positions at the school level. Financial decisions focus on the sustainability of programs or costs and performance metrics tied to strategic objectives of the system. \nWe expect student enrollment to remain constant for the foreseeable future. Residential growth has been limited to a senior community in the county; however, building has started for a new apartment complex. The county's industrial park continues to pick up new industries, albeit at a slow pace. Initially, these industries include abatements in school property taxes, but a regular phase out of these abatements will help the digest to grow over time. Overall, growth in population and new construction is incremental. \nRequests for Information \nThis financial report is designed to provide a general overview of Griffin-Spalding County School System's finances for those with an interest in the System's finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to Byron K. Jones, CFO, Griffin-Spalding County School System, P.O. Drawer N, Griffin, Georgia 30224. Alternatively, you may send requests to the following e-mail address: byron.jones@gscs.org. \n-16- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSTATEMENT OF NET POSITION JUNE 30, 2020 \nALL GOVERNMENTAL ACTIVITIES \n \nASSETS \n \nCash and cash equivalents \n \n$ \n \nProperty taxes receivable \n \nDue from other governments \n \nOther receivables \n \nInventories \n \nOther assets \n \nCapital assets not depreciable \n \nCapital assets, net of accumulated depreciation \n \nTotal assets \n \nDEFERRED OUTFLOWS OF RESOURCES Deferred outflow of resources - pension plan Deferred outflow of resources - OPEB \n \nTotal deferred outlfows of resources \n \nLIABILITIES Accounts payable and other current liabilities Accrued interest payable Unearned revenue Bonds payable - due within one year Long-term liabilities: Proportionate share of net pension liability Proportionate share of net OPEB liability \n \nTotal liabilities \n \nDEFERRED INFLOWS OF RESOURCES Deferred inflow of resources - pension plan Deferred inflow of resources - OPEB \n \nTotal deferred inflows of resources \n \nNET POSITION Net investment in capital assets Restricted for: Capital projects Debt service Continuation of federal and state programs Permanent funds - nonexpendable Unrestricted \n \nTotal net position \n \n$ \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n \n48,433,794 2,295,685 12,147,158 578,608 176,450 10,603 \n11,826,135 165,661,700 \n241,130,133 \n28,804,531 5,114,492 \n33,919,023 \n15,065,536 77,500 91,507 \n6,784,515 \n103,486,731 77,432,697 \n202,938,486 \n3,795,533 20,743,790 \n24,539,323 \n170,703,320 \n14,975,160 6,786,601 1,574,284 1,114,522 (147,582,540) \n47,571,347 \n \n-17- \n \n Functions/Programs Primary government: Governmental activities: \nInstruction Pupil support services Improvement of instructional services Educational media services General and school administration Business administration Maintenance and operation of plant Student transportation services Central support services Other support services Food services operation Community services operations Interest on long-term debt Unallocated depreciation (net of direct depreciation) Total school system \n \nGRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSTATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2020 \n \nEXPENSES \n \nPROGRAM REVENUES \n \nOPERATING \n \nCHARGES FOR \n \nGRANTS AND \n \nSERVICES \n \nCONTRIBUTIONS \n \nNET (EXPENSE) REVENUE AND CHANGES IN NET POSITION \nALL GOVERNMENTAL ACTIVITIES \n \n$ \n \n75,215,130 $ \n \n4,447,710 \n \n8,089,474 \n \n2,024,187 \n \n12,528,963 \n \n476,366 \n \n9,577,328 \n \n5,398,687 \n \n1,817,420 \n \n902,432 \n \n5,830,234 \n \n243,947 \n \n35,041 \n \n524,433 \n \n$ \n \n127,111,352 $ \n \n530,223 $ \n397,544 927,767 $ \n \n53,383,080 $ 3,271,974 5,906,097 1,397,904 9,187,886 347,300 7,111,720 4,312,345 1,342,079 686,053 4,594,165 178,523 \n91,719,126 \n \nGeneral revenues: Taxes: Property taxes, levied for general purposes Special purpose local option sales tax Investment earnings \n \nTotal general revenues \n \nChange in net position \n \nNet position \n \nNet position, ending \n \n$ \n \n(21,301,827) (1,175,736) (2,183,377) \n(626,283) (3,341,077) \n(129,066) (2,465,608) (1,086,342) \n(475,341) (216,379) (838,525) (65,424) (35,041) (524,433) (34,464,459) \n29,129,366 10,477,785 \n536,842 \n40,143,993 \n5,679,534 \n41,891,813 \n47,571,347 \n \n-18- \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA BALANCE SHEET \nGOVERNMENTAL FUNDS JUNE 30, 2020 \n \nASSETS \n \nGENERAL FUND \n \nCAPITAL PROJECTS \nFUND \n \nDEBT SERVICE \nFUND \n \nNONMAJOR \n \nTOTAL \n \nGOVERNMENTAL GOVERNMENTAL \n \nFUNDS \n \nFUNDS \n \nCash and cash equivalents Receivables \nSpalding County tax commissioner State of Georgia, Department of Revenue State of Georgia, Department of Education Due from other funds Other Inventories Other assets \nTotal assets \n \n$ \n \n21,026,433 $ \n \n17,091,041 $ \n \n2,295,685 \n \n8,462,204 1,568,585 \n349,528 \n \n8,876 \n \n$ \n \n33,711,311 $ \n \n17,091,041 $ \n \n5,952,410 $ 911,691 \n6,864,101 $ \n \n4,363,910 $ \n2,773,263 229,080 176,450 1,727 \n7,544,430 $ \n \n48,433,794 \n2,295,685 911,691 \n11,235,467 1,568,585 578,608 176,450 10,603 \n65,210,883 \n \nLIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES \n \nLIABILITIES Accounts payable Accrued salaries and benefits Unearned revenue Retainage payable Due to other funds Total liabilities \n \n$ \n \n1,415,497 $ \n \n10,120,371 \n \n1,366 \n \n11,537,234 \n \n783,417 $ \n427,125 1,210,542 \n \n0$ 0 \n \n381,781 $ 1,937,345 \n90,141 0 \n1,568,585 3,977,852 \n \n2,580,695 12,057,716 \n91,507 427,125 1,568,585 16,725,628 \n \nDEFERRED INFLOWS OF RESOURCES Unavailable revenue - property taxes Total deferred inflows of resources \n \n1,419,662 1,419,662 \n \n0 \n \n0 \n \n1,419,662 \n \n0 \n \n1,419,662 \n \nFUND BALANCES Nonspendable: Inventories Permanent funds Restricted for: Debt service Capital projects Continuation of federal and state programs Committed to: Risk management School activity funds and other programs Assigned to: Permanent funds Capital projects Unassigned Total fund balances \n \n559,064 \n20,195,351 20,754,415 \n \n14,975,160 \n905,339 15,880,499 \n \n6,864,101 6,864,101 \n \n176,450 1,114,522 \n1,574,284 629,695 71,627 \n3,566,578 \n \n176,450 1,114,522 \n6,864,101 14,975,160 \n1,574,284 \n559,064 629,695 \n71,627 905,339 20,195,351 47,065,593 \n \nTotal liabilities, deferred inflows of resources and fund balances \n \n$ \n \n33,711,311 $ \n \n17,091,041 $ \n \n6,864,101 $ \n \n7,544,430 $ \n \n65,210,883 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n-19- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nRECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET POSITION JUNE 30, 2020 \n \nTotal fund balances - governmental funds \nAmounts reported for governmental activities in the statement of net position are different because: \nOther long-term assets are not available to pay for current period expenditures: Property taxes reported as unavailable revenue in the funds \nCapital assets used in governmental activities are not financial resources and therefore are not reported as assets in governmental funds. The cost of the assets is $243,254,283 and the accumulated depreciation is $65,766,448 \nLong-term liabilities, including net pension obligations, are not due and payable in the current period and therefore are not reported in the funds. Long-term liabilities at year-end consist of: \nAccrued interest Net pension liability Net OPEB liability Bonds payable Premium on bonds issued Accumulated amortization of bond premium \nDeferred outflows and inflows of resources related to pensions are applicable to future periods and, therefore, are not reported in the funds \nDeferred outflow of employer contributions related to pensions Deferred outflow of resources - proportionate share of collective deferred outflows of resources Deferred outflow of resources related to OPEB \nDeferred inflow of resources from the difference between expected and actual experience Deferred inflow of resources from the difference between projected and actual earnings \non pension plan investments Deferred inflow of resources from change in proportionate share of pension expense Deferred outflow of resources related to OPEB \nTotal net position - governmental activities \n \n$ 47,065,593 \n \n1,419,662 \n \n177,487,835 \n \n$ (77,500) (103,486,731) (77,432,697) (6,700,000) (1,774,821) 1,690,306 (187,703,943) \n \n(187,781,443) \n \n12,926,393 15,878,138 5,114,492 \n \n33,919,023 \n \n(30,618) \n \n(2,465,883) (1,299,032) (20,743,790) \n \n(24,539,323) \n \n$ 47,571,347 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n-20- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSTATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS \nFOR THE YEAR ENDED JUNE 30, 2020 \n \nREVENUES Property taxes Sales taxes Fees and charges State funds Federal funds Earnings on investments Miscellaneous \nTotal revenues \nEXPENDITURES Current operating Instruction Support services Pupil support services Improvement of instructional services Educational media services General and school administration Business administration Maintenance and operation of plant Student transportation services Central support services Other support services School nutrition services Community service operations Debt service Principal retirement Interest and fiscal charges Capital outlay \nTotal expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES (USES) Transfers in Transfers out \nTotal other financing sources (uses) \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nGENERAL FUND \n \nCAPITAL PROJECTS \nFUND \n \nDEBT SERVICE \nFUND \n \nNONMAJOR GOVERNMENTAL \nFUNDS \n \nTOTAL GOVERNMENTAL \nFUNDS \n \n$ \n \n29,061,856 \n \n491,223 70,722,124 \n611,847 197,436 $ 301,319 \n101,385,805 \n \n$ \n320,987 320,987 \n \n10,477,785 $ \n10,477,785 \n \n$ \n436,544 5,349,133 13,272,550 \n18,420 1,481,230 \n20,557,877 \n \n29,061,856 10,477,785 \n927,767 76,071,257 13,884,397 \n536,843 1,782,549 \n132,742,454 \n \n60,455,517 \n2,406,673 5,137,012 1,759,939 10,694,600 \n452,371 9,289,854 4,853,453 1,763,129 \n839,843 66,836 229,785 \n \n763,099 \n \n97,949,012 3,436,793 \n \n9,315,832 10,078,931 (9,757,944) \n \n(738,608) \n \n(1,262,214) \n \n(738,608) \n \n(1,262,214) \n \n2,698,185 \n \n(11,020,158) \n \n18,056,230 \n \n26,900,657 \n \n$ \n \n20,754,415 $ \n \n15,880,499 $ \n \n4,900,000 434,602 \n5,334,602 5,143,183 \n \n9,705,376 \n1,893,652 2,625,317 \n77,314 1,380,198 \n12,295 3,440 464 \n59,227 5,392,090 \n4,846 \n21,154,219 \n(596,342) \n \n70,160,893 \n4,300,325 7,762,329 1,837,253 12,074,798 \n452,371 9,302,149 5,619,992 1,763,593 \n899,070 5,458,926 \n234,631 \n4,900,000 434,602 \n9,315,832 \n134,516,764 \n(1,774,310) \n \n1,262,214 \n1,262,214 6,405,397 \n458,704 6,864,101 $ \n \n738,608 \n738,608 142,266 3,424,312 3,566,578 $ \n \n2,000,822 (2,000,822) \n0 (1,774,310) 48,839,903 47,065,593 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n-21- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nRECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS \nTO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2020 \n \nTotal net change in fund balances - governmental funds \n \n$ (1,774,310) \n \nAmounts reported for governmental activities in the statement of activities are different because: \n \nCapital outlays are reported in governmental funds as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over their estimated useful lives as depreciation expense. This is the amount by which capital outlays exceed depreciation in the period. \nCapital outlays Depreciation \n \n$ 10,546,236 (4,588,740) \n \n5,957,496 \n \nRepayment of bonds is an expenditures in the governmental funds, but the repayment reduces long-term liabilities in the Statement of Net Position. \n \n4,900,000 \n \nInterest expense reported in the Statement of Activities is recorded as incurred, whereas interest expense in the governmental fund statements is reported when paid. \n \n61,500 \n \nGovernmental funds report the effect of premiums when the debt is first issued. These amounts are deferred and amortized in the Statement of Activities. \nAmortization of bond premium \n \n338,061 \n \n338,061 \n \nGovernmental funds do not present revenues that are not available to pay current obligations. In contrast, such revenues are reported in the Statement of Activities when earned: \nProperty tax revenue \n \n67,510 \n \nGovernmental funds report district pension contributions as expenditures. However in the Statement of Activities, the cost of pension benefits earned net of employee contributions is reported as pension expense. \nSystem pension contributions Pension contributions - State support Cost of benefits earned net of employee contributions System OPEB contributions OPEB expense \n \n12,926,393 357,487 \n(17,677,989) 2,093,512 (1,570,126) \n \n(3,870,723) \n \nChange in net position of governmental activities \n \n$ 5,679,534 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n-22- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSTATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - GENERAL FUND FOR THE YEAR ENDED JUNE 30, 2020 \n \nREVENUES Property taxes State funds Federal funds Other local funds Total revenues \n \nBUDGETED AMOUNTS \n \nORIGINAL \n \nFINAL \n \n$ 27,173,755 $ 28,008,755 \n \n69,991,008 \n \n70,593,385 \n \n517,810 \n \n557,810 \n \n1,185,366 \n \n960,038 \n \n98,867,939 \n \n100,119,988 \n \nACTUAL AMOUNTS \n \nVARIANCE OVER (UNDER) \n \n$ 29,061,856 $ 70,468,015 611,847 989,978 101,131,696 \n \n1,053,101 (125,370) \n54,037 29,940 1,011,708 \n \nEXPENDITURES Current operating Instruction Support services Pupil services Improvement of instructional services Educational media services General and school administration Business administration Maintenance and operation of plant Student transportation services Other support services Community service operations Total expenditures \n \n62,463,167 \n2,318,118 4,823,212 1,719,138 10,652,921 \n426,536 8,615,698 4,775,405 2,428,744 \n0 98,222,939 \n \n61,204,825 \n2,433,941 5,232,803 1,774,138 10,715,921 \n446,536 8,705,698 5,192,621 2,778,744 \n217,000 98,702,227 \n \n60,455,517 \n2,406,673 5,137,012 1,759,939 10,693,188 \n444,738 9,206,220 4,764,271 2,597,560 \n229,785 97,694,903 \n \n(749,308) \n(27,268) (95,791) (14,199) (22,733) (1,798) 500,522 (428,350) (181,184) 12,785 (1,007,324) \n \nExcess (deficiency) of revenues over (under) expenditures \n \n645,000 \n \n1,417,761 \n \n3,436,793 \n \n2,019,032 \n \nOTHER FINANCING USES Proceeds from sale of assets Transfers in Transfers out Total other financing uses \n \n0 0 (645,000) (645,000) \n \n0 325,000 (1,075,000) (750,000) \n \n0 325,000 (1,063,608) (738,608) \n \n0 0 11,392 11,392 \n \nNet change in fund balances \n \n0 \n \n667,761 \n \n2,698,185 \n \n2,030,424 \n \nFund balances, beginning Fund balances, ending \n \n18,056,230 $ 18,056,230 $ \n \n18,056,230 18,723,991 \n \n18,056,230 $ 20,754,415 $ \n \n0 2,030,424 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n-23- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nAGENCY FUNDS - SCHOOL ACTIVITY FUNDS STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES \nJUNE 30, 2020 \n \nASSETS Cash and cash equivalents Total assets \nLIABILITIES Accounts payable Due to student and faculty groups Total liabilities \n \n$ 149,844 $ 149,844 \n \n$ \n \n365 \n \n149,479 \n \n$ 149,844 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. -24- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 1: Summary of Significant Accounting Policies \nA. Reporting Entity \nThe Griffin-Spalding County School System (the \"System\") was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. The financial statements of the System have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. \nThe System's combined financial statements include the accounts of all System operations. The criteria for including organizations as component units within the System's reporting entity, as set forth in Financial Reporting Standards, include whether: \n The organization is legally separate  The Board holds the corporate powers of the organization  The Board appoints a voting majority of the organization's board  The Board is able to impose its own will on the organization  The organization has the potential to impose a financial benefit/burden on the \nSystem  There is fiscal dependency by the organization on the System \nBased on the aforementioned criteria, the System has no component units. \nB. System-wide and fund financial statements \nThe system-wide financial statements (i.e., the statement of net position and the statement of activities) report information of the nonfiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements. However, interfund services provided and used are not eliminated in the process of consolidation. Normally, governmental activities are supported by taxes and intergovernmental revenues. \n-25- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nThe statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues. \nSeparate financial statements are provided for governmental funds and fiduciary funds, even though the latter are excluded from the system-wide financial statements. Major individual governmental funds are reported as separate columns in the fund financial statements. \nC. Measurement focus, basis of accounting, and financial statement presentation \nThe system-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. The fiduciary fund financial statements are also reported using the accrual basis of accounting; however, fiduciary funds have no measurement focus. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. \nThe State of Georgia reimburses the School System for teachers' salaries and operating costs through the Quality Basic Education Formula Earnings program (QBE). Generally teachers are contracted for the school year (July 1  June 30) and paid over a twelve month contract period, generally September 1 through August 31. In accordance with the respective rules and regulations of the QBE program, the State of Georgia reimburses the School System over the same twelve month period in which teachers are paid. At June 30, the amount of teachers' salaries incurred but not paid until July and August of the subsequent year are accrued. Since the State of Georgia recognizes its QBE liability for the July and August salaries at June 30, the School System recognizes its portion of that reimbursement as a receivable and revenue, consistent with symmetrical recognition. \n-26- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nGovernmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the System considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due. Property taxes associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered to be measurable and available only when cash is received by the System. \nThe System reports the following major governmental funds: \nThe general fund is the operating fund of the System. It is used to account for all financial resources except those required to be accounted for in another fund. \nThe capital projects fund is used to account for financial resources to be used for the acquisition or construction of major capital facilities. \nThe debt service fund is used to account for the accumulation of financial resources for the payment of principal, interest and related costs on general long-term debt. \nAdditionally, the School System reports the following funds: \nThe special revenue funds are used to account for federal and state funded grants. These grants are awarded to the System for the purpose of accomplishing specific educational tasks, which are defined in the grant agreements. These funds contain several locally funded programs whose expenditures are restricted to specific purposes. In addition, these funds are used to account for the school nutrition program whose revenues and expenditures are associated with the operations of the school cafeterias. \n-27- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nPermanent funds are used to account for assets held by the System resulting from a trust arrangement in which the System is the beneficiary which include scholarships and endowments. \nThe permanent funds apply the current financial resources measurement focus and modified accrual basis of accounting. Nonexpendable permanent funds account for assets of which the principal may not be spent. \nAgency funds are used to account for assets held on behalf of outside parties. \nThe agency funds are custodial in nature (assets equal liabilities) and do not present the results of operations nor have a measurement focus. Agency funds are accounted for using the accrual basis of accounting. These fiduciary funds are used to account for assets that the System holds on behalf of other funds of the System and are comprised primarily of amounts collected through fundraising efforts of individual school activity organizations. \nAmounts reported as program revenues include 1) charges to customers or application for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. \nWhen both restricted and unrestricted resources are available for use, it is the System's policy to use restricted resources first, then unrestricted resources as they are needed. As a general rule the effect of interfund activity has been eliminated from the system-wide financial statements. \nD. Assets, liabilities, deferred outflows/inflows of resources, and net position/fund balance \nCash, Cash Equivalents and Investments The System's cash and cash equivalents are considered to be cash on hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition. Investments of the System are reported at fair value. \nStatutes authorize the System to invest in obligations of the United States and of its agencies and instrumentalities; bonds or certificates of indebtedness of the state of Georgia and of its agencies and instrumentalities; certificates of deposit of banks insured by the F.D.I.C. to the extent that such investments are legal investments; repurchase agreements; \n-28- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nand the Local Government Investment Pool, administered by the State of Georgia. Certificates of deposit must be collateralized to the extent they exceed $250,000. \nReceivables Property taxes were levied on October 7, 2019, based on property values assessed as of January 1, 2019, and were payable on or before December 20, 2019. Property taxes became an enforceable lien on January 15, 2020. Taxes levied in calendar year 2019 for operations were levied at 17.077 mills. \nReceivables due but not available are deferred inflows from resources in the fund financial statements in accordance with the modified accrual basis, but not deferred in the government-wide financial statements in accordance with the accrual basis. \nTotal property tax revenues reported for the fiscal year amounted to $29.1 million, including $2.3 million reported as taxes receivable of which $1.4 million is reflected as deferred inflow of resources in the general fund. \nThe State of Georgia, Department of Revenue receivable represents Special Local Option Sales Tax (SPLOST) revenues earned in the prior year but received within 30 days after year-end from the State Department of Revenue. Amounts due from the State of Georgia, Department of Education reflect QBE allotments related to the State's reimbursement amount for its portion of general fund salaries and benefits, which totaled $8.4 million at June 30, 2020. \nOther receivables consist of amounts due to the System from other grants, tuition, or other revenue sources. The System anticipates collection of all receivables within one year. \nInventories Inventories consist of donated food commodities and purchased foods used in the preparation of meals. Inventories are stated at cost (principally first in, first-out), which is not in excess of market. The System utilizes the consumption method to recognize inventory usage. Under the consumption method, inventories are recorded as expenditures when used rather than when purchased. Reported inventories are reflected as nonspendable fund balance. The United States Department of Agriculture (USDA) commodity portion of the food services inventory consists of food donated by the USDA. It is valued at its Federally assigned value. \n-29- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 1: Summary of Significant Accounting Policies (Continued) \n \nCapital Assets Capital assets, which include property, plant and equipment, are reported in the systemwide financial statements. Capital assets are defined by the System as assets with an initial cost of more than $5,000 and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation. \n \nThe costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized. \n \nLand and construction in progress are not depreciated. Depreciation of all other capital assets is charged as an expense against their operations in the Statement of Activities. Property, plant and equipment is depreciated using the straight-line method over the following estimated useful lives: \n \nAssets \nPermanent buildings Portable buildings Building improvements Vehicles Office equipment Computer equipment \n \nYears \n40 - 80 10 20 \n5 - 10 3 - 10 3 - 10 \n \nAccrued Salaries and Benefits Accrued salaries and benefits relate primarily to salaries of employees paid over a twelvemonth period for contract services of ten months. The twelve-month pay period begins September 1 and ends August 31. Salaries payable in July and August along with the employee benefits relating to those salaries are accrued as of the end of the fiscal year. \n \nCompensated Absences It is the System's policy to permit employees to accumulate earned but unused vacation and sick pay benefits. There is no liability for unpaid accumulated sick leave since the System does not have a policy to pay any amounts when employees separate from service with the System. Vacation pay is awarded on a fiscal year basis, with no provisions for carryover of unused days. Accordingly, as of June 30, there is no liability for accrued vacation pay. \n \n-30- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nDeferred Outflows and Inflows of Resources Government-wide In addition to assets, the statement of net position and/or the balance sheet will report a separate section for deferred outflows of resources. This separate financial statement element, represents a consumption of resources that applies to a future period(s) and therefore will not be recognized as an outflow of resources until then. Under the full accrual method of accounting, the System has reported the contributions to the cost sharing benefit pension plan subsequent to the measurement date and prior to the fiscal year end as deferred outflows of resources. The System has also reported the actuarial changes in the System's proportionate share of the State of Georgia cost sharing benefit pension plan, as discussed in Note 11. \nIn addition to liabilities, the statement of net position and/or the balance sheet will report a separate section for deferred inflows of resources. This separate financial statement element represents an acquisition of resources that applies to a future period(s) and therefore will not be recognized as an inflow of resources until that time. Under the full accrual method of accounting, the System has reported the actuarial changes in the System's proportionate share of the State of Georgia cost sharing benefit pension plan, as discussed in Note 11. This item is reported only in the System-wide Statement of Net Position. \nGovernmental funds Additionally, the System has only one item, which arises only under a modified accrual basis of accounting that qualifies for reporting in this category. Accordingly, the item, unavailable revenue, is reported only in the governmental funds balance sheet. The governmental funds report unavailable revenues from property taxes and this amount is deferred and will be recognized as an inflow of resources in the period in which the amounts become available. \nPensions For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Teachers Retirement System of Georgia (TRS), Employees' Retirement System (ERS), and Public School Employees Retirement System (PSERS) and additions to/deductions from the respective plans' fiduciary net position have been determined on the same basis as they are reported by each. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are at fair value. The General Fund has been and will continue to be used to liquidate pension liabilities. \n-31- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nFund Balance In accordance with the requirements of GASB 54 \"Fund Balance Reporting and Governmental Fund Type Definitions\", the following classifications describe the relative strength of the spending constraints placed on the purposes for which resources can be used: - Nonspendable fund balance- amounts that are not in a spendable form or are required to \nbe maintained intact; - Restricted fund balance- amounts constrained to specific purposes by their providers \n(such as grantors, bondholders, and higher levels of government, through constitutional provisions, or by enabling legislation); - Committed fund balance- amounts that can be used only for specific purposes pursuant to constraints imposed by formal action of the Board of Education. The Board of Education is the System's highest level of decision-making authority, and the formal action that is required to be taken to establish, modify, or rescind a fund balance commitment is a resolution approved by the Board; - Assigned fund balance- amounts the System intends to use for a specific purpose; but are neither restricted nor committed. The Board of Education may assign fund balance. In addition, the Board has authorized the Superintendent or Chief Financial Officer to assign amounts to be used for specific purposes; - Unassigned fund balance- consists of resources within the general fund not meeting the definition of any aforementioned category. The general fund should be the only fund that reports a positive unassigned fund balance amount. In other governmental funds, it may be necessary to report a negative unassigned fund balance. \nThe Board establishes (and modifies or rescinds) fund balance commitments by taking formal action in the form of a resolution. A fund balance commitment is further indicated in the budget document as a designation or commitment of the fund (such as for special incentives). Assigned fund balance is established by the Board through adoption or amendment of the budget as intended for a specific purpose (such as the purchase of capital assets, construction, debt service, or for other purposes). When multiple categories of fund balance are available for expenditure, the System will start with the most restricted category and spend those funds first before moving down to the next category with available funds. \nE. Budgetary Information \nGeneral Budget Policies The System has a legally authorized appropriated budget which is formally approved by the Board at the aggregate level for each budgeted fund. Budgets are prepared to provide a basis for funding operations. There is no legal prohibition regarding over expenditure of the aggregate budget as long as there is an adequate available fund balance. \n-32- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nThe budget process begins when the System's administration prepares a tentative aggregated budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper of general circulation in the locality. \nAt the next regular meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department of Education. From time to time, the budget is amended by Board approval at the fund level. \nThe System prepares its budgets on the modified accrual basis, which is the same basis it presents its fund financial statements. In addition, certain on-behalf payments for retirement benefits are not included in the general fund budget. The actual results on page 23 have, accordingly, been restated for comparative purposes. The System legally adopts budgets for its general fund, special revenue (excluding \"other funds\"), capital projects and debt service funds. \nEncumbrances Encumbrances represent commitments related to unperformed contracts for goods and services. Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure of resources recorded in order to reserve that portion of the applicable appropriation, is utilized by the System. Encumbrances outstanding at yearend are reported as assignments of fund balance since they do not constitute actual expenditures or liabilities. They are reappropriated in the subsequent fiscal year since appropriations lapse at year-end. \nNOTE 2: Deposits and Investments \nThe System maintains a cash and investment pool that is available for use by all governmental funds. Each fund type's portion of this pool is included in \"Cash and cash equivalents\". In addition, deposits are separately held by several of the System's funds. \nThe System has not adopted a formal investment policy. Most of the System's cash is invested in the State of Georgia Government Pool. Other investments consist of securities backed by Federal Government agencies and one-day repurchase agreements with local banks. The following pages will disclose deposit and investment risks that could affect the System's ability to provide services and meet its obligations as they become due. \n-33- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 2: Deposits and Investments (Continued) \n \nCustodial Credit Risk  Deposits Custodial credit risk is the risk that in the event of a bank failure, the System's deposits may not be returned to it. The System does not have a deposit policy for custodial credit risk. The System's cash and cash equivalents are summarized below. All deposits are carried at cost plus accrued interest. \n \nDepository Accounts \nInsured Collateralized \nCollateral held by pledging bank's trust department in the System's name Local government investment pool \n \nBank Balance Book Balance \n \n$ \n \n807,579 $ 807,579 \n \n9,112,779 41,942,720 \n \n5,683,495 41,942,720 \n \nTotal Deposits \n \n51,863,078 48,433,794 \n \nNet cash and cash equivalents \n \n$ 51,863,078 $ 48,433,794 \n \nAgency funds had bank deposits totaling $149,844, as reported on the Statement of Fiduciary Assets and Liabilities. \nThe System's investment in the local government investment pool is comprised of Georgia Fund 1 and another local investment pool, which has not been categorized as to risk level because it is a pool managed by another government. Georgia Fund 1 is not registered with the SEC as an investment company and does not operate in a manner consistent with the SEC's Rule 2a-7 of the Investment Company Act of 1940. The investment is valued at the pool's share price, $1.00 per share, which approximates fair value. The pool is an AAAf rated investment pool by Standard and Poor's. The weighted average maturity of Georgia Fund 1 may not exceed 60 days. The weighted average maturity for Georgia Fund 1 on June 30, 2020, was 38 days. \nGeorgia Fund 1, administered by the State of Georgia, Office of the State Treasurer, is not required to be categorized since the School District did not own any specific identifiable securities in the pool. The investment policy of the State of Georgia, Office of the State Treasurer for the Georgia Fund 1, does not provide for investment in derivatives or similar investments. Additional information on the Georgia Fund 1 is disclosed in the State of Georgia Comprehensive Annual Financial Report. This audit can be obtained from the Georgia Department of Audits and Accounts at www.audits.ga.gov/SGD/CAFR.html. \n \n-34- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 2: Deposits and Investments (Continued) \n \nCredit Risk, Concentration of Credit Risk, and Interest Rate Risk  Investments \n \nState law limits investments in commercial paper and corporate bonds to the top two ratings issued by nationally recognized statistical rating organizations. The System has no investment policy that would further limit its investment choices. \n \nInterest Rate Risk - the System does not have a formal policy that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates. \n \nConcentration of Credit Risk - the System is not limited on the amount that may be invested in any one issuer. \n \nNOTE 3: Interfund Receivables, Payables and Transfers \n \nDuring the course of its operations, the School System makes transfers between funds to finance operations, provide services, acquire assets, and service debt. To the extent that certain transfers between funds have not been received as of year-end, balances of interfund amounts receivable or payable have been recorded. Outstanding balances between funds are reported as \"due to/from other funds.\" \n \nInterfund receivable and payable balances are as follows: \n \nReceivable Fund General Fund \n \nPayable Fund \n \nAmount \n \nNonmajor Governmental Funds $ 1,568,585 \n \nThe general fund was due $1,568,585 from other funds to be repaid upon receipt of grant revenues. All interfund balances will be repaid in the next fiscal year. \n \nTransfers from/to other funds at June 30, 2020 are as follows: \n \nTransfers to \n \nTransfers from \n \nNonmajor Governmental Funds General Fund \n \nDebt Service Fund \n \nCapital Projects Fund \n \nAmount $ 738,608 \n1,262,214 \n \nThese transfers are to cover overages from the operation of certain grants and debt service payments. \n \n-35- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 4: Capital Assets \n \nGovernmental capital asset activity for the year ended June 30, 2020 was as follows: \n \nBeginning \n \nEnding \n \nBalance \n \nIncreases \n \nDecreases \n \nTransfers \n \nBalance \n \nCapital assets, not being depreciated: Land Construction in progress Total capital assets, not being depreciated \n \n$ 3,365,294 $ \n \n4,059 $ \n \n1,347,670 7,109,112 \n \n4,712,964 7,113,171 \n \n0 $ 0 \n0 \n \n0 \n \n3,369,353 \n \n0 \n \n8,456,782 \n \n0 \n \n11,826,135 \n \nCapital assets, being depreciated: \nBuildings \n \n135,219,991 \n \n0 \n \n0 \n \n0 135,219,991 \n \nBuilding improvements \n \n70,407,853 1,121,593 \n \n0 \n \n0 \n \n71,529,446 \n \nVehicles and equipment Total capital assets, being depreciated \n \n22,367,239 2,311,472 \n \n0 \n \n0 \n \n24,678,711 \n \n227,995,083 3,433,065 \n \n0 \n \n0 231,428,148 \n \nLess accumulated \n \ndepreciation for: \n \nBuildings \n \n(37,481,653) (1,745,576) \n \n0 \n \nBuilding improvements \n \n(8,807,725) (1,192,036) \n \n0 \n \nVehicles and equipment \n \n(14,888,330) (1,651,128) \n \n0 \n \nTotal accumulated \n \ndepreciation \n \n(61,177,708) (4,588,740) \n \n0 \n \n0 (39,227,229) \n \n0 \n \n(9,999,761) \n \n0 (16,539,458) \n \n0 (65,766,448) \n \nTotal capital assets, being depreciated, net \n \n166,817,375 (1,155,675) \n \n0 \n \n0 165,661,700 \n \nCapital assets, net \n \n$ 171,530,339 $ 5,957,496 $ \n \n0 $ \n \n0 $ 177,487,835 \n \n-36- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 4: Capital Assets (Continued) \n \nDepreciation expense was charged to functions/ programs of the primary government as follows: \n \nInstruction Improvement of instructional services Media services General and school administration Business Services Maintenance and operations Transporation Central support services School nutrition Unallocated depreciation \n \n$ 2,176,648 131,213 105,868 95,758 2,098 596,958 606,972 27,938 320,854 524,433 \n \nTotal depreciation expense \n \n$ 4,588,740 \n \nNOTE 5: Long-Term Debt \nBonds Payable In July 2015, the System issued $13,370,000 in General Obligation Sales Tax Bonds (the \"Bonds\") with interest rates ranging from 3.00% - 5.00%. Interest is payable semi-annually beginning April 2016 and principal is due annually beginning in October 2018 with final payment due October 2020. The Bonds were issued to finance various planned construction activities for the System. The Bonds are direct and general obligations of the System. The System pays the principal and interest first from the System's portion of a 1 percent sales and use tax for educational purposes collected within the County. To the extent that the proceeds of the SPLOST are insufficient to make such payments, the principal and interest on the Bonds are payable from an ad valorem tax, unlimited as to rate or amount, to be levied upon all taxable property within the School System subject to taxation for school bond purposes. \n \n-37- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 5: Long-Term Debt (Continued) \nA summary of changes in bonds payable for the year ended June 30, 2020 follows: \n \nBalance \n \nJune 30, 2019 \n \n2015 General \n \nObligation $ 11,600,000 \n \nUnamortized \n \nbond premium \n \n422,577 \n \nAdditions \n \n$ \n \n0 \n \n0 \n \nBalance Due within Deletions June 30, 2020 one year \n \n$ (4,900,000) $ 6,700,000 $ 6,700,000 \n \n(338,062) \n \n84,515 \n \n0 \n \nTotal \n \n$ 12,022,577 $ \n \n0 $ (5,238,062) $ 6,784,515 $ 6,700,000 \n \nThe annual debt service requirements to maturity are as follows: \n \nYears Ending \nJune 30, \n \n2015 General Obligation \n \nPrincipal \n \nInterest \n \n2021 \n \n6,700,000 $ 6,700,000 $ \n \n155,500 155,500 \n \nNOTE 6: Non-Monetary Transactions and On-Behalf Payments \nThe System received from the United States Department of Agriculture through the Georgia Department of Education approximately $142,246 in donated food commodities for its lunchroom programs. The federally assigned value of these commodities is reflected as revenues and expenditures in the Other Governmental Funds. \nThe Georgia Department of Education paid $254,109 to the Public School Employee Retirement System on behalf of the System for the fiscal year ending June 30, 2020. These on-behalf payments were for health insurance and retirement contributions and were reported in the General Fund as both revenues and expenditures. \n \n-38- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 7: Special Purpose Local Option Sales Tax (SPLOST) \n \nOn March 20, 2007, the voters of Spalding County authorized the imposition of a Special Purpose Local Option Sales Tax (SPLOST) effective July 1, 2007. The sales tax was authorized for a maximum period of time not to exceed five years for the purpose of raising not more than $57,000,000, although the SPLOST only generated $42,783,556. Total expenditures of 2007 SPLOST proceeds incurred in 2020 were $1,159,236. The funds were used to fund school improvements. \n \nOn March 6, 2012, the voters of Spalding County authorized the SPLOST to be reimposed effective July 1, 2012. The reimposed sales tax was authorized for a maximum period of time not to exceed three years for the purpose of raising not more than $30,000,000, although the SPLOST only generated $25,332,346. Total expenditures of 2012 SPLOST proceeds incurred in 2020 were $161,129. The funds generated by the sales tax were used to renovate, remove, repair, improve, and equip existing school facilities and acquire system-wide technology improvements. \n \nOn March 17, 2015, the voters of Spalding County authorized the SPLOST to be reimposed effective July 1, 2015. The reimposed sales tax was authorized for a maximum period of time not to exceed five years for the purpose of raising not more than $50,000,000. Total expenditures of 2015 SPLOST proceeds incurred in 2020 were $13,777,370. The funds generated by the sales tax will be used to renovate, remove, repair, improve, and equip existing school facilities, acquire system-wide technology improvements and refurbish and renovate school buses. \n \nThe status of the SPLOST projects are as follows: \n \n2012 SPLOST \n \nAnticipated proceeds, as originally projected $ 30,000,000 \n \nAmount not yet collected \n \n(4,667,654) \n \nAmount collected through June 30, 2020 \n \n25,332,346 \n \nAmount of bond proceeds spent \n \n0 \n \nTotal \n \n$ 25,332,346 \n \n2015 SPLOST $ 50,000,000 \n(3,453,953) 46,546,047 15,144,821 \n$ 61,690,868 \n \nAmounts expended in previous years Amounts expended in current year Amounts expended to date \n \n$ 23,764,789 161,129 \n$ 23,925,918 \n \n$ 31,619,759 13,777,370 \n$ 45,397,129 \n \n-39- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 8: Risk Management \n \nThe System is exposed to various risks of loss related to torts: theft of loss, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disaster. The System has established a limited risk management program for Workers' Compensation. \n \nEstimated claims are budgeted by management based on known claims and prior experience. An excess coverage insurance policy covers aggregate claims in excess of $500,000 up to $1,000,000. \n \nClaims and associated expenses incurred during the fiscal years 2020, 2019 and 2018 are shown below. Outstanding year end liabilities are considered to be immaterial. \n \nYear 2020 2019 2018 \n \nBalance July 1, 2019 \n \n$ \n \n0 \n \n$ \n \n0 \n \n$ \n \n0 \n \nCurrent Year Claims Accrued \n \n$ \n \n338,415 \n \n$ \n \n279,613 \n \n$ \n \n250,012 \n \nCurrent Year Claims Paid \n$ (338,415) $ (279,613) $ (250,012) \n \nUnpaid \n \nBalance June 30, 2020 \n \n$ \n \n0 \n \n$ \n \n0 \n \n$ \n \n0 \n \nThe System participates in Georgia School Boards Association Risk Management Fund for property and liability insurance. Coverage for losses arising from certain liability and property risks to the System is provided through a group self-insurance plan. For accounting purposes this plan is considered to be a Risk Transfer Pool. Under this plan, the System is responsible for the first $5,000 of each property loss, $5,000 of each machinery breakdown loss, $1,000 of auto physical damage loss, and the first $10,000 of each liability claim. The plan assumes certain risks of the System in excess of state retentions up to certain customary coverage limits. The System is required to make a financial contribution to the plan each year in an amount determined on the basis of actuarial projections of losses. Settled claims have not exceeded insurance coverage in any of the past three years nor has the System significantly reduced coverage for these risks. \n \nNOTE 9: Contingencies and Commitments \n \nThe System is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine System operations. It is the opinion of management and legal counsel that the System has adequate legal defenses or insurance coverage and these actions will not materially affect the System's results of operations or financial position. \n \nAt June 30, 2020, the System's future construction commitments consist of additions to various schools in the amount of approximately $864,750. At June 30, 2020, the System had no significant encumbrances. \n \n-40- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 10:Tax Abatements \nSpalding County enters into property tax abatement agreements with local businesses for the purpose of attracting or retaining businesses within their jurisdictions. The abatements may be granted to any business located or promising to relocate to Spalding County. \nFor the fiscal year ended June 30, 2020, Spalding County abated real and personal property taxes due to the System that were levied on October 7, 2019 and due on December 20, 2019 totaling $321,983 for real property and $407,362 for personal property. Included in the amount abated, the following are individual tax abatement agreements that each exceeded 10% of the total amount abated: \n- a 0% real property tax abatement totaling $23,978 to a manufacturing company, - a 40% personal property tax abatement totaling $8,538 to a manufacturing \ncompany, - a 58% personal property tax abatement totaling $19,368 to a manufacturing \ncompany, - a 60% personal property tax abatement totaling $28,379 to a manufacturing \ncompany - a 70% real property tax abatement totaling $92,352 to a chemical company and \nmanufacturing company and a personal property tax abatement totaling $69,705 to a chemical company and a manufacturing company, - a 73% real property tax abatement totaling $101,977 to a manufacturing company, - an 80% real property tax abatement totaling $74,888 to a manufacturing company and a personal property tax abatement totaling $222,652 to a manufacturing company, - a 100% real property tax abatement totaling $28,789 a joint development authority and a personal property tax abatement totaling $19,835 to a manufacturing company, and - personal property tax abatements ranging from 20%-100% to a large equipment company totaling $38,885. \nNOTE 11:Retirement Plans \nThe System participates in various retirement plans administered by the State of Georgia, as further explained below. \nTeachers Retirement System (TRS) \nPlan description: All teachers of the System as defined in 47-3-60 of the Official Code of Georgia Annotated (OCGA) and certain other support personnel as defined by 47-3-63 \n-41- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 11:Retirement Plans (Continued) \nare provided a pension through the Teachers Retirement System of Georgia (TRS). TRS, a cost-sharing multiple-employer defined benefit pension plan, is administered by the TRS Board of Trustees (TRS Board). Title 47 of the OCGA, assigns the authority to establish and amend benefit provisions to the State Legislature. TRS issues a publicly available financial report that can be obtained at www.trsga.com/publications. \nBenefits provided: TRS provides service retirement, disability retirement, and death benefits. Normal retirement benefits are determined as 2% of the average of the employee's two highest paid consecutive years of service, multiplied by the number of years of creditable service up to 40 years. An employee is eligible for normal service retirement after 30 years of creditable service, regardless of age, or after 10 years of service and attainment of age 60. Ten years of service is required for disability and death benefits eligibility. Disability benefits are based on the employee's creditable service and compensation up to the time of disability. Death benefits equal the amount that would be payable to the employee's beneficiary had the member retired on the date of death. Death benefits are based on the employee's creditable service and compensation up to the date of death. \nContributions: Per Title 47 of the OCGA, contribution requirements of active employees and participating employers, as actuarially determined, are established and may be amended by the TRS Board. Pursuant to OCGA 47-3-63, the employer contributions for certain full-time public school support personnel are funded on behalf of the employer by the State of Georgia. Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. Employees were required to contribute 6% of their annual pay during fiscal year 2020. The System's contractually required contribution rate for the year ended June 30, 2020 was 21.14% of annual school district payroll (excluding payroll attributable to those personnel funded on behalf of the School District by the State). System contributions to TRS (excluding contributions funded by the State on behalf of the System) were $12,893,763 for the year ended June 30, 2020. \nEmployees Retirement System (ERS) \nPlan description: ERS is a cost-sharing multiple-employer defined benefit pension plan established by the Georgia General Assembly during the 1949 Legislative Session for the purpose of providing retirement allowances for employees of the State of Georgia and its political subdivisions. ERS is directed by a Board of Trustees. Title 47 of the O.C.G.A. assigns the authority to establish and amend the benefit provisions to the State Legislature. ERS issues a publicly available financial report that can be obtained at www.ers.ga.gov/financials. \n-42- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 11:Retirement Plans (Continued) \nBenefits Provided: The ERS Plan supports three benefit tiers: Old Plan, New Plan, and Georgia State Employees' Pension and Savings Plan (GSEPS). Employees under the old plan started membership prior to July 1, 1982 and are subject to plan provisions in effect prior to July 1, 1982. Members hired on or after July 1, 1982 but prior to January 1, 2009 are new plan members subject to modified plan provisions. Effective January 1, 2009, new state employees and rehired state employees who did not retain membership rights under the Old or New Plans are members of GSEPS. ERS members hired prior to January 1, 2009 also have the option to irrevocably change their membership to GSEPS. \nUnder the old plan, the new plan, and GSEPS, a member may retire and receive normal retirement benefits after completion of 10 years of creditable service and attainment of age 60 or 30 years of creditable service regardless of age. Additionally, there are some provisions allowing for early retirement after 25 years of creditable service for members under age 60. \nRetirement benefits paid to members are based upon the monthly average of the member's highest 24 consecutive calendar months, multiplied by the number of years of creditable service, multiplied by the applicable benefit factor. Annually, postretirement cost-of-living adjustments may also be made to members' benefits, provided the members were hired prior to July 1, 2009. The normal retirement pension is payable monthly for life; however, options are available for distribution of the member's monthly pension, at reduced rates, to a designated beneficiary upon the member's death. Death and disability benefits are also available through ERS. \nContributions: Member contributions under the old plan are 4% of annual compensation, up to $4,200.00, plus 6% of annual compensation in excess of $4,200.00. Under the old plan, the state pays member contributions in excess of 1.25% of annual compensation. Under the old plan, these state contributions are included in the members' accounts for refund purposes and are used in the computation of the members' earnable compensation for the purpose of computing retirement benefits. Member contributions under the new plan and GSEPS are 1.25% of annual compensation. The System's contractually required contribution rate, actuarially determined annually, for the year ended June 30, 2020 was 24.78% of annual covered payroll for old and new plan members and 21.78% for GSEPS members. The rates include the annual actuarially determined employer contribution rate of 24.66% of annual covered payroll of new and old plan members and 21.66% for GSEPES members, plus a 0.12% adjustment for the HB 751 one-time benefit adjustment of 3% to retired state employees. Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. There were no employer contributions to for the current fiscal year. \n-43- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 11:Retirement Plans (Continued) \nPublic School Employees Retirement System (PSERS) \nPlan description: PSERS is a cost-sharing multiple-employer defined benefit pension plan established by the Georgia General Assembly in 1969 for the purpose of providing retirement allowances for public school employees who are not eligible for membership in the Teachers Retirement System of Georgia. The ERS Board of Trustees, plus two additional trustees, administers PSERS. Title 47 of the OCGA assigns the authority to establish and amend the benefit provisions to the State Legislature. PSERS issues a publicly available financial report that can be obtained at www.ers.ga.gov/financials. \nBenefits provided: A member may retire and elect to receive normal monthly retirement benefits after completion of ten years of creditable service and attainment of age 65. A member may choose to receive reduced benefits after age 60 and upon completion of ten years of service. \nUpon retirement, the member will receive a monthly benefit of $15.25, multiplied by the number of years of creditable service. Death and disability benefits are also available through PSERS. Additionally, PSERS may make periodic cost-of-living adjustments to the monthly benefits. Upon termination of employment, member contributions with accumulated interest are refundable upon request by the member. However, if an otherwise vested member terminates and withdraws his/her member contribution, the member forfeits all rights to retirement benefits. \nContributions: The general assembly makes an annual appropriation to cover the employer contribution to PSERS on behalf of local school employees (bus drivers, cafeteria workers, and maintenance staff). The annual employer contribution required by statute is actuarially determined and paid directly to PSERS by the State Treasurer in accordance with OCGA 47-4-29(a) and 60(b). Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. \nIndividuals who became members prior to July 1, 2012 contribute $4 per month for nine months each fiscal year. Individuals who became members on or after July 1, 2012 contribute $10 per month for nine months each fiscal year. The State of Georgia, although not the employer of PSERS members, is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS Board of Trustees. The contribution by the State for the year ended June 30, 2020 amounted to $254,109. \n-44- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 11:Retirement Plans (Continued) \nPension liabilities, Pension expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions \nAt June 30, 2020, the System reported a liability of $103,486,731 for its proportionate share of the net pension liability for TRS ($103,275,122) and ERS ($211,609). The TRS net pension liability reflected a reduction for support provided to the System by the State of Georgia for certain public school support personnel. \nThe amount recognized by the System as its proportionate share of the net pension liability, the related State of Georgia support, and the total portion of the net pension liability that was associated with the System were as follows: \n \nSystem's proportionate share of the net pension liability \nState of Georgia's proportionate share of the net pension liability associated with the System \nTotal \n \nTRS \n \nERS \n \nPSERS \n \nTotal \n \n$ 103,275,122 $ 211,609 $ \n \n0 $ 103,486,731 \n \n0 \n \n0 1,297,983 \n \n1,297,983 \n \n$ 103,275,122 $ 211,609 $ 1,297,983 $104,784,714 \n \nThe net pension liability for TRS and ERS was measured as of June 30, 2019. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2018. An expected total pension liability as of June 30, 2019 was determined using standard roll-forward techniques. The System's proportion of the net pension liability was based on contributions during the fiscal year ended June 30, 2019. At June 30 2019, the System's proportion was .480289% for TRS and .005128% for ERS, which was an increase (decrease) of (.007949)% for TRS and (.000060)% for ERS from its proportion measured as of June 30, 2018. \nAt June 30, 2020, the System did not have a PSERS liability for a proportionate share of the net pension liability because of a Special Funding Situation with the State of Georgia, which is responsible for the net pension liability of the plan. The amount of the State's proportionate share of the net pension liability associated with the System is $1,297,983. \n \n-45- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 11:Retirement Plans (Continued) \n \nThe PSERS net pension liability was measured as of June 30, 2019. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2018. An expected total pension liability as of June 30, 2019 was determined using standard roll-forward techniques. The State's proportion of the net pension liability associated with the System was based on actuarially determined contributions paid by the State during the year ended June 30, 2019. \n \nFor the year ended June 30, 2020, the System recognized total net pension expense of $17,277,708 for its proportionate share of which $17,271,199 was for TRS, $6,509 for ERS and $400,282 for PSERS and total revenue of $357,487 of which $42,795 is a reduction of revenue for TRS and $400,282 is an increase in revenue for PSERS. The revenue is support provided by the State of Georgia. For TRS, the State of Georgia support is provided only for certain support personnel. \nAt June 30, 2020, the System reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: \n \nDifferences between expected and actual experience Changes in assumption \nNet difference between projected and actual earnings on pension plan investments \nChanges in proportion and differences between Employer contributions and proportionate share of contributions \nEmployer contributions subsequent to the measurement date \nTotal \n \nTRS \n \nDeferred Outflows of Resources \n \nDeferred Inflows of Resources \n \nERS \n \nDeferred Outflows of Resources \n \nDeferred Inflows of Resources \n \n$ 5,821,112 $ 30,618 $ 7,047 $ \n \n0 \n \n9,910,595 \n \n0 \n \n3,725 \n \n0 \n \n0 2,459,296 \n \n0 \n \n6,587 \n \n134,629 1,298,297 \n \n1,434 \n \n12,893,763 \n \n0 \n \n$ 28,760,099 $ 3,788,211 $ \n \n32,630 44,836 $ \n \n741 0 \n7,328 \n \n-46- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 11:Retirement Plans (Continued) \nSystem contributions subsequent to the measurement date of $12,893,763 for TRS and $32,630 for ERS are reported as deferred outflows of resources and will be recognized as a reduction of the net pension liability in the year ended June 30, 2021. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: \n \nYear ended June 30: 2021 2022 2023 2024 2025 Thereafter \nTotal \n \nTRS \n \nERS \n \n5,313,441 680,788 \n2,971,247 3,112,649 \n0 0 $ 12,078,125 $ \n \n10,127 (4,825) (1,298) \n874 0 0 \n4,878 \n \nActuarial assumptions: The total pension liability as of June 30, 2019 was determined by an actuarial valuation as of June 30, 2018, using the following actuarial assumptions, applied to all periods included in the measurement: \n \nInflation Salary increase (average, including \ninflation) \nInvestment rate of return (net of pension plan investment expense, including inflation) Post retirement benefit increases (semiannually) \n \nTRS 2.50% \n \nERS \n \nPSERS \n \n2.75% \n \n2.75% \n \n3.00 - 8.75% 3.25 -7.00% \n \nN/A \n \n7.25% 1.50% \n \n7.30% N/A \n \n7.30% 1.50% \n \nFor TRS, mortality rates were based on the RP-2000 White Collar Mortality Table set forward one year for males for service retirements and dependent beneficiaries, and the RP2000 Disabled Mortality Table set forward two years for males and four years for females for death after disability retirement. \nFor ERS, mortality rates were based on the RP-2000 Combined Mortality Table set forward two years for both males and females for service retirements and dependent \n \n-47- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 11:Retirement Plans (Continued) \n \nbeneficiaries, and the RP-2000 Disabled Mortality Table set back seven years for males and set forward three years for females for the period after disability retirement. \n \nFor PSERS, mortality rates were based on the RP-2000 Blue Collar Mortality Table set forward three years for males and two years for females for the period after service retirement, for dependent beneficiaries, and for deaths in active service, and the RP-2000 Disabled Mortality Table set forward five years for both males and females for the period after disability retirement. \nThe actuarial assumptions used in the June 30, 2018 valuation were based on the results of an actuarial experience study for the period July 1, 2009  June 30, 2014, with the exception of the assumed investment rate of return. \n \nThe long-term expected rate of return on TRS, ERS and PSERS pension plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected nominal returns, net of pension plan investment expense and the assumed rate of inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. \n \nThe target asset allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table: \n \nAsset Class Fixed income Domestic large stocks Domestic small stocks International developed market stocks International emerging market stocks Alternatives \nTotal \n \nTRS Target Allocation \n30.00% 51.00% 1.50% 12.40% 5.10% 0.00% 100.00% \n \nERS/PSERS Long-term \n \nTarget \n \nexpected real \n \nAllocation rate of return* \n \n30.00% \n \n-0.10% \n \n46.20% \n \n8.90% \n \n1.30% \n \n13.20% \n \n12.40% \n \n8.90% \n \n5.10% \n \n10.90% \n \n5.00% \n \n12.00% \n \n100.00% \n \n*Rates shown are net of inflation \n \n-48- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 11:Retirement Plans (Continued) \nDiscount rate: The discount rate used to measure the total pension liability was 7.25% for TRS and 7.30% for ERS and PSERS both the current and prior measurement dates. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rate and that employer and State of Georgia contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions, the TRS, ERS, and PSERS pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. \n \nSensitivity of the System's proportionate share of the net pension liability to changes in the discount rate: The following presents the System's proportionate share of the net pension liability calculated using the discount rate of 7.25% for TRS and 7.30% for ERS, as well as what the System's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower (6.25% for TRS and 6.30% for ERS) or 1-percentage-point higher (8.25% for TRS and 8.30% for ERS) than the current rate: \n \nEmployer's proportionate share of the net pension liability \n \n1% Decrease (6.25%) \n \nTRS \nCurrent discount \nrate (7.25%) \n \n1% Increase (8.25%) \n \n1% Decrease (6.30%) \n \nERS \nCurrent discount \nrate (7.30%) \n \n1% Increase (8.30%) \n \n167,645,750 103,275,122 50,339,594 300,715 211,609 135,647 \n \nPension plan fiduciary net position: Detailed information about the pension plan's fiduciary net position is available in the separately issued TRS, ERS, and PSERS financial report which is publically available at www.trsga.com/publications and www.ers.ga.gov/formspubs. \nSupplemental Retirement Plan- Public School Employees' Retirement System Only \nPlan Description: All employees participating in the Public School Employees' Retirement System are also eligible to participate in the System's Supplemental Retirement Plan. The Board of Education recognized that PSERS was a limited defined benefit plan which did not provide for an adequate retirement for this group of employees and thus established this Plan in 2016 to supplement the retirement for this group of employees. \n \n-49- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 11:Retirement Plans (Continued) \nThis Plan, as a defined contribution plan, puts 3% of salary for all PSERS employees into a 403(b) type plan. The plan requires 36 months of service or meeting normal retirement age to vest 100% in the employer portion. Failure to complete the 36 month vesting requirement will result in forfeiture of the employer contributions. The employee contributions will be refunded 100%, if the vesting requirement is not met. \nFunds accumulated in the employer paid accounts are only available to the employee upon termination of employment and 3 years of service to the System. If an employee terminates employment prior to achieving 3 years of service, funds paid on behalf of the non-vested employee are credited back to the System. \nValic Retirement Services is the supplemental plan provider and National Benefit Services, LLC, has been set up as the third party administrator. The plan offers an investment menu from which the employees may select their investment mix. \nFunding Policy: the System contributes 3% of the employee's monthly compensation for all eligible employees. Contributions are sent monthly to the third party administrator to be invested based upon the employee's investment choices. \nThe System's contributions to the Supplemental Retirement Plan for the fiscal year ending June 30, 2020 were $149,398. \nNOTE 12: Other Post-Employment Benefits (OPEB) \nGeorgia School Personnel Post-Employment Health Benefit Fund \nPlan Description: Certified teachers and non-certified public school employees of the School District as defined in 20-2-875 of the Official Code of Georgia Annotated (OCGA) are provided OPEB through the School OPEB Fund - a cost-sharing multiple-employer defined benefit postemployment healthcare plan, reported as an employee trust fund and administered by a Board of Community Health (Board). Title 20 of the OCGA assigns the authority to establish and amend the benefit terms of the group health plan to the Board. \nBenefits Provided: The School OPEB Fund provides healthcare benefits for retirees and their dependents due under the group health plan for public school teachers, including librarians, other certified employees of public schools, regional educational service agencies and non-certified public school employees. Retiree medical eligibility is attained when an employee retires and is immediately eligible to draw a retirement annuity from Employees' Retirement System (ERS), Georgia Judicial Retirement System (JRS), Legislative Retirement System (LRS), Teachers Retirement System (TRS) or Public School \n-50- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 12: Other Post-Employment Benefits (OPEB) (Continued) Employees Retirement System (PSERS). If elected, dependent coverage starts on the same day as retiree coverage. Medicare-eligible retirees are offered Standard and Premium Medicare Advantage plan options. Non-Medicare eligible retiree plan options include Health Reimbursement Arrangement (HRA), Health Maintenance Organization (HMO) and a High Deductible Health Plan (HDHP). The School OPEB Fund also pays for administrative expenses of the fund. By law, no other use of the assets of the School OPEB Fund is permitted. \nContributions: As established by the Board, the School OPEB Fund is substantially funded on a pay-as-you-go basis; that is, annual cost of providing benefits will be financed in the same year as claims occur. Contributions to the School OPEB Fund from the School District were $2,093,512 for the year ended June 30, 2020. Active employees are not required to contribute to the School OPEB Fund. \nOPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB At June 30, 2020, the School District reported a liability of $77,432,697 for its proportionate share of the net OPEB liability. The net OPEB liability was measured as of June 30, 2019. The total OPEB liability used to calculate the net OPEB liability was based on an actuarial valuation as of June 30, 2018. An expected total OPEB liability as of June 30, 2019 was determined using standard roll-forward techniques. The School District's proportion of the net OPEB liability was actuarially determined based on employer contributions during the fiscal year ended June 30, 2019. At June 30, 2019, the School District's proportion was .630963%, which was an decrease of (.003244)% from its proportion measured as of June 30, 2018. \n-51- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 12: Other Post-Employment Benefits (OPEB) (Continued) \n \nFor the year ended June 30, 2020, the School District recognized OPEB expense of $1,570,126. At June 30, 2020, the School District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: \n \nOPEB \n \nDeferred \n \nDeferred \n \nOutflows of \n \nInflows of \n \nResources \n \nResources \n \nDifferences between expected and actual experience Changes in Assumptions Net difference between projected and actual earnings on OPEB plan investments Changes in proportion and differences between School District contributions and proportionate share of contributions \nSchool District contributions subsequent to the measurement date \nTotal \n \n$ \n \n0 \n \n2,689,087 \n \n168,625 \n \n163,268 \n2,093,512 $ 5,114,492 \n \n$ 8,423,872 10,915,565 0 \n1,404,353 0 \n$ 20,743,790 \n \nSchool District contributions subsequent to the measurement date of $2,093,512 are reported as deferred outflows of resources and will be recognized as a reduction of the net OPEB liability in the year ended June 30, 2021. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: \n \nYear ended June 30: 2021 2022 2023 \n2024 \n2025 Thereafter \nTotal \n \nOPEB \n$ (3,970,572) (3,970,572) (3,977,055) (3,485,284) (1,911,538) (407,789) \n$(17,722,810) \n \n-52- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 12: Other Post-Employment Benefits (OPEB) (Continued) \n \nActuarial assumptions: The total OPEB liability as of June 30, 2019 was determined by an actuarial valuation as of June 30, 2018, with update procedures used to roll forward the total OPEB liability to June 30, 2019. The roll forward calculation adds the annual normal cost (also called service cost), subtracts the actual benefit payments for the same year, and then applies the expected rate of return for the period. This actuarial valuation used the following actuarial assumptions: \n \nOPEB: \nInflation \nSalary increases \nLong-term expected rate of return \nHealthcare cost trend rate Pre-Medicare Eligible Medicare Eligible \nUltimate trend rate Pre-Medicare Eligible Medicare Eligible \nYear of Ultimate trend rate Pre-Medicare Eligible Medicare Eligible \n \n2.75% 3.25% - 8.75%, average, including inflation 7.30%, compounded annually, net of investment expense, and including inflation \n7.25% 5.38% \n4.75% 4.75% \n2028 2022 \n \nMortality rates were based on the RP-2000 Combined Mortality Table for Males or Females, as appropriate, with adjustments for mortality improvements based on Scale BB as follows: \n For TRS members: The RP-2000 White Collar Mortality Table projected to 2025 with projection scale BB (set forward one year for males) is used for death after service retirement and beneficiaries. The RP-2000 Disabled Mortality Table projected to 2025 with projection scale BB (set forward two years for males and four years for females) is used for death after disability retirement. \n \n-53- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 12: Other Post-Employment Benefits (OPEB) (Continued) \n For PSERS members: The RP-2000 Blue-Collar Mortality Table projected to 2025 with projection scale BB (set forward three years for males and two years for females) is used for the period after service retirement and for beneficiaries of deceased members. The RP-2000 Disabled Mortality Table projected to 2025 with projection scale BB (set forward five years for both males and females) is used for the period after disability retirement. \nThe actuarial assumptions used in the June 30, 2018 valuation were based on the results of an actuarial experience study for the pension systems, which covered the five-year period ending June 30, 2014, and adopted by the pension Board on December 17, 2015. The next experience study for TRS will be for the period ending June 30, 2018. \nThe remaining actuarial assumptions (e.g., initial per capital costs, health care cost trends, rate of plan participation, rates of plan election, etc.) used in the June 30, 2018 valuation were based on a review of recent plan experience done concurrently with the June 30, 2018 valuation. \nProjection of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of the calculation. \nThe long-term expected rate of return on OPEB plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected nominal returns, net of investment expense and the assumed rate of inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. \n-54- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 12: Other Post-Employment Benefits (OPEB) (Continued) \n \nThe target allocation and best estimates of arithmetic real rates of return for each major \nasset class are summarized in the following table: \nLong- \n \nterm \n \nexpected \n \nTarget real rate \n \nAsset Class \n \nAllocation of return* \n \nFixed income Domestic large stocks Domestic small stocks International developed market stocks International emerging market stocks Alternatives \n \n30.00% 46.20% \n1.30% 12.40% 5.10% 5.00% \n \n-0.10% 8.90% 13.20% 8.90% 10.90% 12.00% \n \nTotal \n \n100.00% \n \n*Rates shown are net of inflation \nDiscount rate: In order to measure the total OPEB liability for the School OPEB Fund, a single equivalent interest rate of 3.58% was used as the discount rate, as compared with last year's rate of 3.87%. This is comprised mainly of the yield or index rate for 20 year taxexempt general obligation municipal bonds with an average rating of AA or higher (3.50% per the Municipal Bond Index Rate). The projection of cash flows used to determine the discount rate assumed that contributions from members and from the employer will be made at the current level as averaged over the last five years, adjusted for annual projected changes in headcount. Projected future benefit payments for all current plan members were projected through 2119. Based on these assumptions, the OPEB plan's fiduciary net position was projected to be available to make OPEB payments for inactive employees through year 2026. Therefore, the calculated discount rate of 3.58% was applied to all periods of projected benefit payments to determine the total OPEB liability. \n \n-55- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nNOTE 12: Other Post-Employment Benefits (OPEB) (Continued) \n \nSensitivity of the District's proportionate share of the net OPEB liability to changes in the discount rate: The following presents the School District's proportionate share of the net OPEB liability calculated using the discount rate of 3.58%, as well as what the District's proportionate share of the net OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower (2.58%) or 1 percentage-point higher (4.58%) than the current discount rate: \n \nNet OPEB Liability (asset) \n \n(2.58%) 90,002,352 \n \n(3.58%) 77,432,697 \n \n(4.58%) 67,207,848 \n \nSensitivity of the District's proportionate share of the net OPEB liability to changes in the healthcare cost trend rates: The following presents the School District's proportionate share of the net OPEB liability, as well as what the School District's proportionate share of the net OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower or 1-percentage-point higher than the current healthcare cost trend rates: \n \n1% Decrease \n \nCurrent Healthcare Cost \nTrend Rate \n \n1% Increase \n \nNet OPEB Liability (asset) \n \n65,228,843 \n \n77,432,697 \n \n92,932,518 \n \nOPEB plan fiduciary net position: Detailed information about the OPEB plan's fiduciary net position is available in the Comprehensive Annual Financial Report (CAFR), which is publicly available at https://sao.georgia.gov/comprehensive-annual-financial-reports. \n \nNOTE 13: Risks and Uncertainties \n \nIn December 2019, a novel strain of coronavirus (\"COVID-19\") was reported in Wuhan, China. The World Health Organization has declared the outbreak a \"Public Health Emergency of International Concern.\" The COVID-19 outbreak in the United States has caused business disruption. The extent of the impact of COVID-19 on our operational and financial performance will depend on certain developments, including the duration and spread of the outbreak, impact on our students, employees, and vendors. At this point, the extent to which COVID-19 may impact our financial condition or results of operations is uncertain and cannot be reasonably estimated, but the potential exists for reductions in revenues and fluctuations in investment values. \n \n-56- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nREQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF NET PENSION LIABILITY \nDEFINED BENEFIT PENSION PLANS FOR THE YEAR ENDED JUNE 30 \n \n2020 \n \n2019 \n \nTRS \n \n2018 \n \n2017 \n \n2016 \n \n2015 \n \nSystem's proportion of the net pension liability System's proportionate share of the net pension liability State of Georgia's proportionate share of the net pension \nliabilty associated with the System System's covered payroll System's proportionate share of the net pension liability \nas a percentage of its covered payroll \nPlan fiduciary net position as a percentage of the total pension liability \n \n0.480289% 0.488238% 0.489034% 0.487142% 0.489235% 0.492510% 103,275,122 90,627,431 90,888,475 100,502,826 74,481,171 62,063,084 \n \n0 \n \n45,292 \n \n96,829 \n \n110,995 \n \n93,019 \n \n148,698 \n \n58,615,034 58,151,431 56,151,054 53,473,168 51,677,582 50,116,513 \n \n176.19% 155.85% 161.86% 187.95% 144.13% 123.84% \n \n78.56% \n \n80.27% \n \n79.33% \n \n76.06% \n \n81.44% \n \n84.03% \n \n-57- \n \nSystem's proportion of the net pension liability System's proportionate share of the net pension liability State of Georgia's proportionate share of the net pension \nliabilty associated with the System \nSystem's covered payroll System's proportionate share of the net pension liability \nas a percentage of its covered payroll \nPlan fiduciary net position as a percentage of the total pension liability \n \n2020 0.005128% \n211,609 \n \n2019 0.005068% \n208,347 \n \nERS \n \n2018 0.005148% \n209,078 \n \n2017 0.005291% \n250,287 \n \n2016 0.004636% \n187,823 \n \n2015 0.004523% \n169,640 \n \n0 129,267 \n \n0 129,267 \n \n0 126,264 \n \n0 123,014 \n \n0 105,989 \n \n0 101,849 \n \n163.70% 161.18% 165.59% 203.46% 177.21% 166.56% \n \n76.74% \n \n76.68% \n \n76.33% \n \n72.34% \n \n76.20% \n \n77.99% \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nREQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF NET PENSION LIABILITY \nDEFINED BENEFIT PENSION PLANS FOR THE YEAR ENDED JUNE 30 \n \nSystem's proportion of the net pension liability System's proportionate share of the net pension liability State of Georgia's proportionate share of the net pension \nliabilty associated with the System \nSystem's covered payroll \nSystem's proportionate share of the net pension liability as a percentage of its covered payroll \nPlan fiduciary net position as a percentage of the total pension liability \n \n2020 N/A 0 \n \n2019 N/A 0 \n \nPSERS \n \n2018 N/A 0 \n \n2017 N/A 0 \n \n2016 N/A 0 \n \n2015 N/A 0 \n \n1,297,983 4,465,717 \n \n1,256,874 4,910,563 \n \n1,257,961 5,098,826 \n \n1,654,512 4,955,278 \n \n1,106,184 4,820,391 \n \n943,529 4,955,076 \n \nN/A \n \nN/A \n \nN/A \n \nN/A \n \nN/A \n \nN/A \n \n85.02% \n \n85.26% \n \n86.00% \n \n81.00% \n \n87.00% \n \n88.29% \n \nNote: Schedule is intended to show information for the last 10 fiscal years. Additional years w ill be displayed as they become available. \n \n-58- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nREQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF COLLECTIVE NET OPEB LIABILITY \nFOR THE YEAR ENDED JUNE 30 \n \nSystem's proportion of the collective net OPEB liability System's proportionate share of the collective net OPEB liability System's covered payroll System's proportionate share of the collective net OPEB as a \npercentage of its covered payroll Plan fiduciary net position as a percentage of the total \ncollective OPEB liability \n \nOPEB \n \n2020 \n \n2019 \n \n0.630963% 0.634200% \n \n77,432,697 80,605,763 \n \n63,210,018 63,191,261 \n \n2018 .643640% 90,431,161 61,187,881 \n \n122.50% 127.56% 147.79% \n \n4.63% \n \n2.93% \n \n1.61% \n \nNote: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they become available. \n \n-59- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nREQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CONTRIBUTIONS \nDEFINED BENEFIT PENSION PLANS FOR THE YEAR ENDED JUNE 30 \n \n2020 \n \n2019 \n \nTRS \n \n2018 \n \n2017 \n \n2016 \n \n2015 \n \nContractually required contribution Contributions in relation to the contractually \nrequired contribution Contribution deficiency (excess) \nSystem's covered payroll Contributions as a percentage of covered payroll \n \n$ 12,893,763 $ 12,250,541 $ 9,775,004 $ 8,012,744 $ 7,630,622 $ 6,795,397 \n \n12,893,763 12,250,541 9,775,004 8,012,744 7,630,622 6,795,397 \n \n$ \n \n0$ \n \n0$ \n \n0$ \n \n0$ \n \n0$ \n \n0 \n \n$ 60,992,257 $ 58,615,034 $58,151,431 $56,151,054 $53,473,168 $ 51,677,582 \n \n21.14% \n \n20.90% \n \n16.81% \n \n14.27% \n \n14.27% \n \n13.15% \n \n-60- \n \n2020 \n \n2019 \n \nERS \n \n2018 \n \n2017 \n \n2016 \n \n2015 \n \nContractually required contribution Contributions in relation to the contractually \nrequired contribution Contribution deficiency (excess) System's covered payroll Contributions as a percentage of covered payroll \n \n$ 32,630 $ 32,032 $ 32,071 $ 31,326 $ 30,409 $ 23,275 \n \n32,630 \n \n32,032 \n \n32,071 \n \n31,326 \n \n30,409 \n \n23,275 \n \n$ \n \n0$ \n \n0$ \n \n0$ \n \n0$ \n \n0$ \n \n0 \n \n$ 132,267 $ 129,267 $ 129,267 $ 126,264 $ 123,014 $ 105,989 \n \n24.67% \n \n24.78% \n \n24.81% \n \n24.81% \n \n24.72% \n \n21.96% \n \nNote: Schedule is intended to show information for the last 10 fiscal years. Additional years will displayed as they become available. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nREQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CONTRIBUTIONS OPEB FOR THE YEAR ENDED JUNE 30 \n \n2020 \n \nOPEB 2019 \n \n2018 \n \nContractually required contribution Contributions in relation to the contractually required contribution Contribution deficiency (excess) \nSystem's covered payroll Contributions as a percentage of covered payroll \n \n$ 2,093,512 $ 3,398,171 $ 3,298,340 2,093,512 3,398,171 3,298,340 \n \n$ \n \n0$ \n \n0$ \n \n0 \n \n$ 65,751,219 $63,210,018 $63,191,261 \n \n3.18% \n \n5.38% \n \n5.22% \n \n-61- \n \nNote: Schedule is intended to show information for the last 10 fiscal years. Additional years will displayed as they become available. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO REQUIRED SUPPLEMENTARY INFORMATION FOR THE YEAR ENDED JUNE 30, 2020 \nRetirement Systems Changes of assumptions: For TRS, in 2010 and later, the expectation of retired life mortality was changed to the RP-2000 Mortality Tables rather than the 1994 Group Annuity Mortality Table, which was used prior to 2010. In 2010, rates of withdrawal, retirement, disability and mortality were adjusted to more closely reflect actual experience. In 2010, assumed rates of salary increase were adjusted to more closely reflect actual and anticipated experience. For ERS and PSERS, On March 15, 2018, the Board adopted a new funding policy. Because of this new funding policy, the assumed investment rate of return was reduced from 7.50% to 7.40% for June 30, 2017 actuarial valuation. In addition, based on the Board's new funding policy, the assumed investment rate of return was further reduced by 0.10% from 7.40% to 7.30% as of the June 30, 2018 Measurement Date. \n-62- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO REQUIRED SUPPLEMENTARY INFORMATION FOR THE YEAR ENDED JUNE 30, 2020 \nOPEB Changes of benefit terms: There have been no changes in benefit terms. Changes in assumptions: June 30, 2017 valuation: the June 30, 2017 actuarial valuation was revised, for various factors, including the methodology used to determine how employees and retirees were assigned to each of the OPEB Funds and anticipated participation percentages. Current and former employees of State organizations (including technical colleges, community service boards and public health departments) are now assigned to the State OPEB fund based on their last employer payroll location: irrespective of retirement affiliation. The discount rate was updated from 3.07% as of June 30, 2016 to 3.58% as of June 30, 2017 to 3.87% as of June 30, 2018, and back to 3.58% as of June 30, 2019. \n-63- \n \n COMBINING FUND STATEMENTS AND OTHER SCHEDULES \n \n NONMAJOR GOVERNMENTAL FUNDS \nSPECIAL REVENUE FUNDS \nDescription \nSpecial revenue funds are used to account for revenues received from other governmental agencies or locally generated revenues that are legally restricted to expenditures for specified purposes. \nSchool Nutrition Program: This fund was established to provide accounting of the System's School Food Service operations. \nOther Special Revenue Funds: \nTitle I: This fund used to account for federal categorical grant funds flowing through the Department of Education, State of Georgia, for the purpose of providing remedial education in the areas of reading and math. \nTitle VIB \u0026 Project Aware: This fund was established to provide accounting of federal categorical grant funds flowing through the Department of Education, State of Georgia, for the purpose of providing special education programs for handicapped students and increasing awareness of mental health issues among school-aged youth; provide training in Youth Mental Health First Aid; and connect children, youth, and families who have behavioral health issues with appropriate services. \nPerkins CTAE: This fund was established to provide accounting of federal categorical grant funds flowing through the Department of Education, State of Georgia, for the purpose of developing career, technical, vocation, and academic skills of students. \nTitle IIA: This fund was established to provide accounting of federal categorical grant funds flowing through the Department of Education, State of Georgia, for the purpose of improving teacher and principal quality and ensuring that all teachers are highly qualified. \nTitle III (LEP \u0026 Immigrant): This fund was established to provide accounting of federal categorical grant funds flowing through the Department of Education, State of Georgia, for the purpose of improving the education of limited English proficient (LEP) and immigrant students by helping them learn English and meet student academic achievement standards. \nTitle IV, Part A (Student Support and Academic Enrichment): This fund was established to provide accounting of federal categorical grant funds flowing through to Department of Education, State of Georgia, for the purpose of improving students' academic achievement by increasing the capacity of States, LEAs, schools, and local communities to provide all students with access to a well-rounded education; improve school conditions for student learning; and improve the use of technology in order to \n-64- \n \n Other Special Revenue Funds: (Continued) Title IV, Part A (Student Support and Academic Enrichment)(continued): improve the academic achievement and digital literacy of all students. (ESEA section 4101). Mainstay Psycho Ed: This fund was established to provide accounting of state and federal grant funds flowing through the Georgia Network for Educational and Therapeutic Support (GNETS), State of Georgia, for the purpose of providing specialized educational treatment for emotionally disturbed students. Pre-K: This fund was established to provide accounting of state lottery funds flowing through the Georgia Department of Early Care and Learning, for the purpose of providing early care and education programs for pre-kindergarten students. School Activity Accounts: Consistent with the philosophy of financial independence of the schools, this fund was established to provide accounting for the accounts maintained at the school level. Nursing Grant: This fund was established to provide accounting of funds donated by the Hospital Authority, a local foundation, for the purpose of providing nurses in each school. Other Funds: This fund was established to provide accounting for certain special programs that are typically one-time monies awarded for distinct program objectives. No annual budget is adopted for these funds. \nPERMANENT FUNDS Description The permanent funds are used to account for assets held by the System resulting from a trust arrangement in which the System is the beneficiary which include scholarships and endowments. \n-65- \n \n ASSETS \nCash and cash equivalents Receivables \nState of Georgia, Department of Education Other Inventories Other assets \nTotal assets \nLIABILITIES AND FUND BALANCES \nLIABILITIES Accounts payable Accrued salaries and benefits Unearned revenue Due to other funds Total liabilities \nFUND BALANCES Nonspendable: Inventories Prepaid assets Permanent funds Restricted for: Continuation of federal and state programs Committed to: School activity funds and other programs Assigned to: Permanent funds Total fund balances \nTotal liabilities and fund balances \n \nGRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS \nJUNE 30, 2020 \n \nSCHOOL NUTRITION PROGRAM \n \nSPECIAL REVENUE FUNDS OTHER SPECIAL \nREVENUE FUNDS \n \nTOTAL SPECIAL REVENUE \nFUNDS \n \nPERMANENT FUNDS \n \nTOTAL NONMAJOR GOVERNMENTAL \nFUNDS \n \n$ \n \n1,596,488 $ \n \n1,475,561 $ \n \n3,072,049 $ \n \n1,291,861 $ \n \n4,363,910 \n \n79,429 \n \n2,693,834 \n \n2,773,263 \n \n2,773,263 \n \n3,471 \n \n206,352 \n \n209,823 \n \n19,257 \n \n229,080 \n \n176,450 \n \n176,450 \n \n176,450 \n \n1,727 \n \n1,727 \n \n1,727 \n \n$ \n \n1,855,838 $ \n \n4,377,474 $ \n \n6,233,312 $ \n \n1,311,118 $ \n \n7,544,430 \n \n$ \n \n116,844 $ \n \n239,968 $ \n \n356,812 $ \n \n24,969 $ \n \n381,781 \n \n373,217 \n \n1,564,128 \n \n1,937,345 \n \n1,937,345 \n \n60,303 \n \n29,838 \n \n90,141 \n \n90,141 \n \n1,468,585 \n \n1,468,585 \n \n100,000 \n \n1,568,585 \n \n550,364 \n \n3,302,519 \n \n3,852,883 \n \n124,969 \n \n3,977,852 \n \n176,450 \n \n176,450 \n \n176,450 \n \n1,114,522 \n \n1,114,522 \n \n1,129,024 \n \n445,260 \n \n1,574,284 \n \n1,574,284 \n \n629,695 \n \n629,695 \n \n629,695 \n \n1,305,474 \n \n1,074,955 \n \n2,380,429 \n \n71,627 1,186,149 \n \n71,627 3,566,578 \n \n$ \n \n1,855,838 $ \n \n4,377,474 $ \n \n6,233,312 $ \n \n1,311,118 $ \n \n7,544,430 \n \nSee Independent Auditor's Report. \n \n-66- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2020 \n \nREVENUES Fees and charges State funds Federal funds Earnings on investments Miscellaneous \nTotal revenues \n \nSCHOOL NUTRITION PROGRAM \n \nSPECIAL REVENUE FUNDS OTHER SPECIAL \nREVENUE FUNDS \n \nTOTAL SPECIAL REVENUE \nFUNDS \n \nPERMANENT FUNDS \n \nTOTAL NONMAJOR GOVERNMENTAL \nFUNDS \n \n$ \n \n397,544 $ \n \n39,000 $ \n \n436,544 \n \n160,716 \n \n5,188,417 \n \n5,349,133 \n \n4,406,259 \n \n8,866,291 \n \n13,272,550 \n \n1,007 \n \n1,102 \n \n2,109 $ \n \n15,644 \n \n1,414,930 \n \n1,430,574 \n \n4,981,170 \n \n15,509,740 \n \n20,490,910 \n \n$ \n16,311 50,656 66,967 \n \n436,544 5,349,133 13,272,550 \n18,420 1,481,230 \n20,557,877 \n \nEXPENDITURES Current operating Instruction Support services Pupil support services Improvement of instructional services Educational media services General and school administration Maintenance and operation of plant Student transportation services Central support services Other support services School nutrition services Community service operations \n \n5,392,090 \n \n9,689,978 \n1,893,652 2,625,317 \n77,314 1,380,198 \n12,295 3,440 \n464 8,171 \n4,846 \n \n9,689,978 \n1,893,652 2,625,317 \n77,314 1,380,198 \n12,295 3,440 \n464 8,171 5,392,090 4,846 \n \n15,398 51,056 \n \n9,705,376 \n1,893,652 2,625,317 \n77,314 1,380,198 \n12,295 3,440 \n464 59,227 5,392,090 \n4,846 \n \nTotal expenditures \n \n5,392,090 \n \n15,695,675 \n \n21,087,765 \n \n66,454 \n \n21,154,219 \n \nExcess (deficiency) of revenues over (under) expenditures \n \n(410,920) \n \n(185,935) \n \n(596,855) \n \n513 \n \n(596,342) \n \nOTHER FINANCING SOURCES Transfers in \n \n500,000 \n \n238,608 \n \n738,608 \n \n738,608 \n \nTotal other financing sources \n \n500,000 \n \n238,608 \n \n738,608 \n \n0 \n \n738,608 \n \nNet change in fund balances \n \n89,080 \n \n52,673 \n \n141,753 \n \n513 \n \n142,266 \n \nFund balances, beginning \n \n1,216,394 \n \n1,022,282 \n \n2,238,676 \n \n1,185,636 \n \n3,424,312 \n \nFund balances, ending \n \n$ \n \n1,305,474 $ \n \n1,074,955 $ \n \n2,380,429 $ \n \n1,186,149 $ \n \n3,566,578 \n \nSee Independent Auditor's Report. \n \n-67- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING BALANCE SHEET OTHER SPECIAL REVENUE FUNDS \nJUNE 30, 2020 \n \nASSETS \nCash and cash equivalents Receivables \nState of Georgia, Department of Education Other Other assets \nTotal assets \nLIABILITIES AND FUND BALANCES \nLIABILITIES Accounts payable Accrued salaries and benefits Unearned revenue Due to other funds Total liabilities \nFUND BALANCES Restricted for: Continuation of federal and state programs Committed to: School activity funds and other programs Total fund balances \nTotal liabilities and fund balances \n \nTITLE I \n \nTITLE VI-B (IDEA) \u0026 PROJECT AWARE \n \nPERKINS CTAE \n \nTITLE II A \n \nTITLE III (LEP \u0026 IMMIGRANT) \n \nTITLE IV (STUDENT SUPPORT) \n \n$ \n \n0$ \n \n1,255,851 \n \n222 \n \n0 \n \n$ \n \n1,256,073 $ \n \n0$ \n465,421 \n0 465,421 $ \n \n0$ \n1,404 372 0 \n1,776 $ \n \n0$ \n50,642 5 0 \n50,647 $ \n \n0$ \n188 \n0 188 $ \n \n0 \n97,772 \n0 97,772 \n \n$ \n \n36,750 $ \n \n402,123 \n \n817,200 1,256,073 \n \n6,055 $ 289,989 \n169,377 465,421 \n \n0$ \n1,776 1,776 \n \n787 $ 14,752 \n35,108 50,647 \n \n0$ \n188 188 \n \n0 24,380 \n73,392 97,772 \n \n0 \n \n$ \n \n1,256,073 $ \n \n0 465,421 $ \n \n0 1,776 $ \n \n0 50,647 $ \n \n0 188 $ \n \n0 97,772 \n \n-68- \n \nSee Independent Auditor's Report. \n \n ASSETS \nCash and cash equivalents Receivables \nState of Georgia, Department of Education Other Other assets \nTotal assets \nLIABILITIES AND FUND BALANCES \nLIABILITIES Accounts payable Accrued salaries and benefits Unearned revenue Due to other funds Total liabilities \nFUND BALANCES Restricted for: Continuation of federal and state programs Committed to: School activity funds and other programs Total fund balances \nTotal liabilities and fund balances \n \nGRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING BALANCE SHEET OTHER SPECIAL REVENUE FUNDS (CONTINUED) \nJUNE 30, 2020 \n \nMAINSTAY PSYCHO ED \n \nPRE-K \n \nSCHOOL ACTIVITY ACCOUNTS \n \nNURSING GRANT \n \nOTHER FUNDS \n \nTOTAL OTHER SPECIAL REVENUE FUNDS \n \n$ \n \n0$ \n \n399,698 $ \n \n536,243 $ \n \n0$ \n \n539,620 $ \n \n1,475,561 \n \n822,556 \n \n2,693,834 \n \n165,667 \n \n40,086 \n \n206,352 \n \n1,727 \n \n0 \n \n0 \n \n0 \n \n1,727 \n \n$ \n \n824,283 $ \n \n399,698 $ \n \n536,243 $ \n \n165,667 $ \n \n579,706 $ \n \n4,377,474 \n \n$ \n \n174,617 $ \n \n1,853 $ \n \n19,834 $ \n \n0$ \n \n390,022 \n \n393,988 \n \n48,776 \n \n1,290 \n \n255,943 \n \n115,601 \n \n820,582 \n \n395,841 \n \n19,834 \n \n165,667 \n \n72 $ 98 28,548 \n28,718 \n \n239,968 1,564,128 \n29,838 1,468,585 3,302,519 \n \n3,701 \n \n3,857 \n \n437,702 \n \n445,260 \n \n3,701 \n \n3,857 \n \n516,409 516,409 \n \n113,286 \n \n629,695 \n \n0 \n \n550,988 \n \n1,074,955 \n \n$ \n \n824,283 $ \n \n399,698 # $ \n \n536,243 $ \n \n165,667 $ \n \n579,706 $ \n \n4,377,474 \n \n-69- \n \nSee Independent Auditor's Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OTHER SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2020 \n \n-70- \n \nREVENUES Fees and charges State funds Federal funds Earnings on investments Miscellaneous Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil support services Improvement of instructional services Educational media services General and school administration Maintenance and operation of plant Student transportation services Central support services Other support services Community service operations \nTotal expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in \nTotal other financing sources \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \nSee Independent Auditor's Report. \n \nTITLE I \n \nTITLE VI-B (IDEA) \u0026 PROJECT AWARE \n \nPERKINS CTAE \n \nTITLE II A \n \nTITLE III (LEP \u0026 IMMIGRANT) \n \nTITLE IV (STUDENT SUPPORT) \n \n$ \n \n5,299,537 $ \n \n2,447,063 $ \n \n5,299,537 \n \n2,447,063 \n \n133,840 $ 133,840 \n \n440,384 $ 440,384 \n \n35,409 $ 35,409 \n \n404,632 404,632 \n \n2,064,684 \n631,067 1,705,824 \n75,332 819,364 \n3,266 \n \n1,847,919 \n211,416 387,393 \n335 \n \n114,780 15,283 3,777 \n \n39,927 \n6,358 363,422 \n1,982 28,644 \n51 \n \n24,141 \n161 11,107 \n \n120,368 \n152,654 125,806 \n5,804 \n \n5,299,537 0 \n \n2,447,063 0 \n \n133,840 0 \n \n440,384 0 \n \n35,409 0 \n \n404,632 0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n$ \n \n0$ \n \n0$ \n \n0$ \n \n0$ \n \n0$ \n \n0 \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OTHER SPECIAL REVENUE FUNDS (CONTINUED) FOR THE YEAR ENDED JUNE 30, 2020 \n \nREVENUES Fees and charges State funds Federal funds Earnings on investments Miscellaneous Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil support services Improvement of instructional services Educational media services General and school administration Maintenance and operation of plant Student transportation services Central support services Other support services Community service operations \nTotal expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in \nTotal other financing sources \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nMAINSTAY PSYCHO ED \n \n$ \n \n2,931,900 $ \n \n105,426 \n \n3,037,326 \n \nPRE-K \n \nSCHOOL ACTIVITY ACCOUNTS \n \nNURSING GRANT \n \nOTHER FUNDS \n \nTOTAL OTHER SPECIAL REVENUE FUNDS \n \n2,256,517 $ \n2,256,517 \n \n1,102 1,032,076 $ \n1,033,178 \n \n$ \n311,500 311,500 \n \n39,000 $ \n71,354 110,354 \n \n39,000 5,188,417 8,866,291 \n1,102 1,414,930 \n15,509,740 \n \n1,947,595 \n579,968 1,969 \n507,794 \n \n2,483,246 \n528 9,252 \n1,993 \n \n1,028,066 \n \n106 \n \n3,037,326 0 \n \n2,495,125 (238,608) \n \n1,028,066 5,112 \n \n238,608 \n \n0 \n \n238,608 \n \n0 \n \n0 \n \n0 \n \n5,112 \n \n3,701 \n \n3,857 \n \n511,297 \n \n$ \n \n3,701 $ \n \n3,857 $ \n \n516,409 $ \n \n311,500 \n311,500 0 \n0 0 0 0$ \n \n19,252 \n5,261 \n12,487 12,295 \n123 464 8,065 4,846 \n62,793 \n47,561 \n \n9,689,978 \n1,893,652 2,625,317 \n77,314 1,380,198 \n12,295 3,440 464 8,171 4,846 \n15,695,675 \n(185,935) \n \n0 47,561 503,427 550,988 $ \n \n238,608 238,608 \n52,673 1,022,282 1,074,955 \n \n-71- \n \nSee Independent Auditor's Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - CAPITAL PROJECTS FUND FOR THE YEAR ENDED JUNE 30, 2020 \n \nREVENUES Sales taxes Earnings on Investments Total revenues \nEXPENDITURES Current operating Student transportation services Capital outlay * Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in Transfers out Total other financing uses \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nBUDGET \n \n$ \n \n3,356,500 \n \n0 \n \n3,356,500 \n \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \n$ \n \n0 $ (3,356,500) \n \n320,987 \n \n320,987 \n \n320,987 \n \n(3,035,513) \n \n0 16,410,840 16,410,840 \n(13,054,340) \n \n763,099 9,315,832 10,078,931 \n(9,757,944) \n \n763,099 (7,095,008) (6,331,909) \n3,296,396 \n \n0 \n \n0 \n \n0 \n \n0 \n \n(1,262,214) \n \n(1,262,214) \n \n0 \n \n(1,262,214) \n \n(1,262,214) \n \n(13,054,340) \n \n(11,020,158) \n \n2,034,182 \n \n26,900,659 \n \n26,900,659 \n \n0 \n \n$ \n \n13,846,319 \n \n$ 15,880,501 $ \n \n2,034,182 \n \n* Capital outlay for budget purposes reflects the entire project; but actual amount reflects expenditures incurred during the fiscal year. For FY2020, all Sales tax revenue was recorded on the Debt Service Fund to cover the debt service payments. \n \nSee Independent Auditor's Report. \n \n-72- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - DEBT SERVICE FUND FOR THE YEAR ENDED JUNE 30, 2020 \n \nREVENUES Sales taxes Total revenues \nEXPENDITURES Debt Service Principal Retirement Interest and Fiscal Charges Other Total expenditures \nOTHER FINANCING USES Transfers in Transfers out Total other financing uses \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nBUDGET \n \n$ \n \n5,333,500 \n \n5,333,500 \n \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \n$ 10,477,785 $ 5,144,285 \n \n10,477,785 \n \n5,144,285 \n \n4,900,000 433,500 5,027 \n5,338,527 \n \n4,900,000 434,602 0 \n5,334,602 \n \n0 1,102 5,027 (3,925) \n \n0 \n \n1,262,214 \n \n1,262,214 \n \n0 \n \n0 \n \n0 \n \n0 \n \n1,262,214 \n \n1,262,214 \n \n(5,027) \n \n6,405,397 \n \n6,410,424 \n \n458,704 \n \n458,704 \n \n0 \n \n$ \n \n453,677 \n \n$ \n \n6,864,101 $ 6,410,424 \n \nFor FY2020, all Sales tax revenue was recorded on the Debt Service Fund to cover the debt service payments. \n \nSee Independent Auditor's Report. \n-73- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - SCHOOL NUTRITION PROGRAM FOR THE YEAR ENDED JUNE 30, 2020 \n \nREVENUES State funds Federal funds Other local funds Total revenues \nEXPENDITURES Current operating Support services School nutrition services Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in Total other financing uses \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nBUDGET \n \n$ \n \n161,262 \n \n4,589,533 \n \n400,000 \n \n5,150,795 \n \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \n$ \n \n160,716 $ \n \n(546) \n \n4,406,259 \n \n(183,274) \n \n414,195 \n \n14,195 \n \n4,981,170 \n \n(169,625) \n \n5,755,716 5,755,716 \n(604,921) \n \n5,392,090 5,392,090 \n(410,920) \n \n(363,626) (363,626) \n194,001 \n \n500,000 \n \n500,000 \n \n0 \n \n500,000 \n \n500,000 \n \n0 \n \n(104,921) \n \n89,080 \n \n194,001 \n \n1,216,394 \n \n1,216,394 \n \n0 \n \n$ \n \n1,111,473 \n \n$ \n \n1,305,474 $ \n \n194,001 \n \nSee Independent Auditor's Report. \n \n-74- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - OTHER SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2020 \n \nREVENUES Federal funds Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil services Improvement of instructional services Educational media services General and school administration Maintenance and operation of plant Student transportation services Other support services Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in Total other financing sources \nNet change in fund balances \n \nBUDGET \n \nTITLE I \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \nTITLE VI-B (IDEA) \u0026 PROJECT AWARE VARIANCE \n \nACTUAL \n \nOVER \n \nBUDGET \n \nAMOUNTS \n \n(UNDER) \n \n$ \n \n5,961,276 $ \n \n5,299,537 $ \n \n5,961,276 \n \n5,299,537 \n \n(661,739) $ (661,739) \n \n2,440,077 $ 2,440,077 \n \n2,447,063 $ 2,447,063 \n \n6,986 6,986 \n \n2,424,777 \n605,262 1,812,888 \n102,556 900,392 \n0 115,401 \n0 5,961,276 \n0 \n0 0 \n0 \n \n2,064,684 \n631,067 1,705,824 \n75,332 819,364 \n0 3,266 \n0 5,299,537 \n0 \n0 0 \n0 \n \n(360,093) \n25,805 (107,064) \n(27,224) (81,028) \n0 (112,135) \n0 (661,739) \n0 \n0 0 \n0 \n \n1,901,505 \n154,096 382,476 \n0 2,000 \n0 0 0 2,440,077 \n0 \n0 0 \n0 \n \n1,847,919 \n211,416 387,393 \n0 335 \n0 0 0 2,447,063 \n0 \n0 0 \n0 \n \n(53,586) \n57,320 4,917 0 (1,665) 0 0 0 6,986 \n0 \n0 0 \n0 \n \nFund balances, beginning Fund balances, ending \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n$ \n \n0$ \n \n0$ \n \n0 \n \n$ \n \n0$ \n \n0$ \n \n0 \n \n-75- \n \nSee Independent Auditors' Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - OTHER SPECIAL REVENUE FUNDS (CONTINUED) FOR THE YEAR ENDED JUNE 30, 2020 \n \nREVENUES Federal funds Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil services Improvement of instructional services Educational media services General and school administration Maintenance and operation of plant Student transportation services Other support services Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in Total other financing sources \nNet change in fund balances \n \nBUDGET \n \nPERKINS CTAE \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \nBUDGET \n \nTITLE IIA \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \n$ \n \n165,010 $ \n \n133,840 $ \n \n(31,170) $ \n \n569,426 $ \n \n440,384 $ \n \n(129,042) \n \n165,010 \n \n133,840 \n \n(31,170) \n \n569,426 \n \n440,384 \n \n(129,042) \n \n127,915 \n0 31,795 \n0 5,300 \n0 0 0 165,010 \n0 \n0 0 \n0 \n \n114,780 \n0 15,283 \n0 3,777 \n0 0 0 133,840 \n0 \n0 0 \n0 \n \n(13,135) \n0 (16,512) \n0 (1,523) \n0 0 0 (31,170) \n0 \n0 0 \n0 \n \n43,841 \n7,889 480,198 \n2,193 34,311 \n0 994 \n0 569,426 \n0 \n0 0 \n0 \n \n39,927 \n6,358 363,422 \n1,982 28,644 \n0 51 \n0 440,384 \n0 \n0 0 \n0 \n \n(3,914) \n(1,531) (116,776) \n(211) (5,667) \n0 (943) \n0 (129,042) \n0 \n0 0 \n0 \n \nFund balances, beginning Fund balances, ending \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n$ \n \n0$ \n \n0$ \n \n0 \n \n$ \n \n0$ \n \n0$ \n \n0 \n \n-76- \n \nSee Independent Auditors' Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - OTHER SPECIAL REVENUE FUNDS (CONTINUED) FOR THE YEAR ENDED JUNE 30, 2020 \n \nREVENUES Federal funds Other local funds Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil services Improvement of instructional services Educational media services General and school administration Student transportation services Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in Total other financing sources \nNet change in fund balances \n \nBUDGET \n \nTITLE III (LEP \u0026 IMMIGRANT) VARIANCE \n \nACTUAL \n \nOVER \n \nAMOUNTS \n \n(UNDER) \n \nTITLE IV (STUDENT SUPPORT) VARIANCE \n \nACTUAL \n \nOVER \n \nBUDGET \n \nAMOUNTS \n \n(UNDER) \n \n$ \n \n37,061 $ \n \n35,409 $ \n \n(1,652) $ \n \n333,891 $ \n \n404,632 $ \n \n70,741 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n37,061 \n \n35,409 \n \n(1,652) \n \n333,891 \n \n404,632 \n \n70,741 \n \n22,968 \n162 13,931 \n0 0 0 37,061 \n0 \n0 0 \n0 \n \n24,141 \n161 11,107 \n0 0 0 35,409 \n0 \n0 0 \n0 \n \n1,173 \n(1) (2,824) \n0 0 0 (1,652) \n0 \n0 0 \n0 \n \n49,991 \n144,459 133,436 \n6,005 0 0 \n333,891 \n0 \n0 0 \n0 \n \n120,368 \n152,654 125,806 \n0 5,804 \n0 404,632 \n0 \n0 0 \n0 \n \n0 \n8,195 (7,630) (6,005) 5,804 \n0 70,741 \n0 \n0 0 \n0 \n \nFund balances, beginning Fund balances, ending \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n$ \n \n0$ \n \n0$ \n \n0 \n \n$ \n \n0$ \n \n0$ \n \n0 \n \n-77- \n \nSee Independent Auditors' Report. \n \n -78- \n \nGRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - OTHER SPECIAL REVENUE FUNDS (CONTINUED) FOR THE YEAR ENDED JUNE 30, 2020 \n \nREVENUES State funds Federal funds Other local funds Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil services Improvement of instructional services Educational media services General and school administration Maintenance and operation of plant Student transportation services Other support services Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in Total other financing sources \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nBUDGET \n \nMAINSTAY PSYCHO ED \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \nBUDGET \n \nPRE-K \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \n$ \n \n3,086,776 $ \n \n2,931,900 $ \n \n456,385 \n \n105,426 \n \n10,000 \n \n0 \n \n3,553,161 \n \n3,037,326 \n \n(154,876) $ (350,959) \n(10,000) (515,835) \n \n2,251,295 $ 0 0 \n2,251,295 \n \n2,256,517 $ 0 0 \n2,256,517 \n \n5,222 0 0 \n5,222 \n \n2,351,830 \n629,657 24,765 \n0 516,909 \n5,000 0 \n25,000 3,553,161 \n0 \n \n1,947,595 \n579,968 1,969 0 \n507,794 0 0 0 \n3,037,326 \n0 \n \n(404,235) \n(49,689) (22,796) \n0 (9,115) (5,000) \n0 (25,000) (515,835) \n0 \n \n2,487,295 \n0 10,000 \n0 4,000 \n0 0 0 2,501,295 \n(250,000) \n \n2,483,246 \n528 9,252 \n0 1,993 \n0 0 106 2,495,125 \n(238,608) \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n3,701 \n \n3,701 \n \n$ \n \n3,701 $ \n \n3,701 $ \n \n0 0 \n \n0 \n \n0 \n \n0 \n \n$ \n \n250,000 250,000 \n0 3,857 3,857 $ \n \n238,608 238,608 \n0 3,857 3,857 $ \n \n(4,049) \n0 (748) \n0 (2,007) \n0 0 106 (6,170) \n11,392 \n(11,392) (11,392) \n0 \n0 \n0 \n \nSee Independent Auditor's Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - OTHER SPECIAL REVENUE FUNDS (CONTINUED) FOR THE YEAR ENDED JUNE 30, 2020 \n \n-79- \n \nREVENUES Federal funds Other local funds Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil services Improvement of instructional services Educational media services General and school administration Maintenance and operation of plant Student transportation services Other support services Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in Total other financing sources \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nSCHOOL ACTIVITY ACCOUNTS \n \nVARIANCE \n \nACTUAL \n \nOVER \n \nBUDGET \n \nAMOUNTS \n \n(UNDER) \n \nBUDGET \n \nNURSING GRANT \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \n$ \n \n0$ \n \n0$ \n \n1,500,000 \n \n1,033,178 \n \n1,500,000 \n \n1,033,178 \n \n0 \n \n$ \n \n(466,822) $ \n \n(466,822) \n \n0$ 350,000 $ 350,000 \n \n0$ 311,500 $ 311,500 \n \n0 (38,500) (38,500) \n \n1,500,000 \n0 0 0 0 0 0 0 1,500,000 \n0 \n \n1,028,066 \n0 0 0 0 0 0 0 1,028,066 \n5,112 \n \n(471,934) \n0 0 0 0 0 0 0 (471,934) \n5,112 \n \n0 \n350,000 0 0 0 0 0 0 \n350,000 \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n5,112 \n \n511,297 \n \n511,297 \n \n$ \n \n511,297 $ \n \n516,409 $ \n \n0 0 \n \n5,112 \n \n0 \n \n5,112 \n \n$ \n \n0 0 \n0 \n0 0$ \n \n0 \n311,500 0 0 0 0 0 0 \n311,500 \n0 \n0 0 \n0 \n0 0$ \n \n0 \n(38,500) 0 0 0 0 0 0 \n(38,500) \n0 \n0 0 \n0 \n0 0 \n \nSee Independent Auditors' Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nAGENCY FUNDS - SCHOOL ACTIVITY FUNDS STATEMENT OF CHANGES IN FIDUCIARY ASSETS AND LIABILITIES \nFOR THE YEAR ENDED JUNE 30, 2020 \n \nASSETS Cash and cash equivalents \nTotal assets \nLIABILITIES Accounts payable Due to student and faculty groups \nTotal liabilities \n \nBalance \n \nBalance \n \nJuly 1, 2019 Additions Deductions June 30, 2020 \n \n$ 200,861 $ 333,696 $ 384,713 $ 149,844 \n \n$ 200,861 $ 333,696 $ 384,713 $ 149,844 \n \n$ 6,992 $ 365 $ 6,992 $ \n \n365 \n \n193,869 333,331 377,721 \n \n149,479 \n \n$ 200,861 $ 333,696 $ 384,713 $ 149,844 \n \nSee Independent Auditor's Report. \n-80- \n \n GRIFFIN-SPALDING COUNTY BOARD OF EDUCATION GRIFFIN, GEORGIA \nSCHEDULE OF ALLOTMENTS AND EXPENDITURES - BY PROGRAM GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS FOR THE YEAR ENDED JUNE 30, 2020 \n \nALLOTMENTS FROM DEPARTMENT OF EDUCATION \n \nGENERAL AND CAREER EDUCATION PROGRAMS \n \nAMOUNT \n \nKindergarten Kindergarten EIP Grades 1  3 Grades 1  3 EIP \nSub-Total - K-3 Grades 4 - 5 Grades 4 - 5 EIP Middle School (6 - 8) Grades 9 - 12 Vocational Education Laboratories \nTotal General and Career Education Programs \n \n$ 1,912,904 3,117,752 4,840,848 8,353,099 18,224,603 2,451,914 4,972,343 7,758,584 6,555,952 2,388,556 \n42,351,952 \n \nSPECIAL EDUCATION PROGRAMS \n \nStudents with Disabilities Category I Category II Category III Category IV Category V Sub-Total  Regular Category VI (Gifted) Total Special Education Programs \n \n218,295 1,114,622 5,457,385 1,796,926 \n599,203 9,186,431 2,350,405 11,536,836 \n \nREMEDIAL EDUCATION PROGRAM \n \n626,803 \n \nALTERNATIVE EDUCATION PROGRAMS \n \n555,670 \n \nENGLISH FOR SPEAKERS OF OTHER LANGUAGES \n \n592,513 \n \nSPECIAL EDUCATION ITINERANT \n \n13,283 \n \nSPECIAL EDUCATION SUPPLEMENTAL SPEECH \n \n7,672 \n \nDirect Instruction Total \n \n55,684,729 \n \nTWENTY DAYS ADDITIONAL INSTRUCTION \n \n424,534 \n \nTwenty Days Additional Instruction Total \n \n424,534 \n \nMEDIA CENTER PROGRAMS \n \n1,374,228 \n \nMedia Center Total \n \n1,374,228 \n \nPROFESSIONAL DEVELOPMENT PROGRAMS \n \n263,038 \n \nProfessional Development Total \n \n263,038 \n \nGrand Total \n \n$ 57,746,529 \n \nDIRECT INSTRUCTIONAL EXPENDITURES AMOUNT REPORTED TO \nDEPARTMENT OF EDUCATION \n \nSALARIES \n \nOPERATIONS \n \nTOTAL \n \n$ 4,545,186 \n \n$ \n \n70,484 \n \n11,655,949 \n \n147,135 \n \n16,418,754 \n \n6,740,366 \n \n55,796 \n \n8,718,547 \n \n9,589,426 \n \n1,233,233 \n \n42,756,122 \n \n60,801 150 \n223,074 450 \n284,475 107,552 \n300 189,988 126,638 126,543 \n835,496 \n \n$ 4,605,987 70,634 \n11,879,023 147,585 \n16,703,229 6,847,918 56,096 8,908,535 9,716,064 1,359,776 \n43,591,618 \n \n0 561,126 6,921,489 227,473 \n0 7,710,088 \n368,563 8,078,651 \n226,861 \n517,334 \n \n432,465 0 0 \n \n52,011,433 \n \n0 0 \n \n1,746,130 1,746,130 \n \n0 0 \n \n$ 53,757,563 \n \n$ \n \n2,912 4,550 12,196 13,348 1,382 34,388 3,925 38,313 \n0 \n0 \n0 \n0 \n0 \n873,809 \n0 \n0 \n91,122 \n91,122 \n0 \n0 \n964,931 \n \n2,912 565,676 6,933,685 240,821 \n1,382 7,744,476 \n372,488 8,116,964 \n226,861 \n517,334 \n432,465 \n0 \n0 \n52,885,242 \n0 \n0 \n1,837,252 \n1,837,252 \n643,717 \n643,717 \n$ 55,366,211 \n \nNote: \n \nExpenditure tests focus on spending 100% of allotted direct instructional funds on a system-wide basis rather than by school or program. However, certain programs such as twenty days additional instruction, media, and professional development are under a 100% expenditure requirement. Griffin-Spalding County School System met the spending requirements for fiscal year June 30, 2020. \n \nSee Independent Auditor's Report. \n \n-81- \n \n STATISTICAL SECTION \n \n STATISTICAL SECTION (UNAUDITED) \n \nThis part of the System's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, notes, and required supplementary information says about the System's overall financial health. \n \nContents \n \nFinancial Trends \n \nPage 8 \n \nThese schedules contain trend information to help the reader understand \n \nhow the System's financial performance and well-being have changed \n \nover time. \n \nRevenue Capacity \n \n8 \n \nThese schedules contain information to help the reader assess the System's \n \nmost significant local revenue source, the property tax. \n \nDebt Capacity \n \n9 \n \nThese schedules present information to help the reader assess the \n \naffordability of the System's current levels of outstanding debt and \n \nthe System's ability to issue additional debt in the future. \n \nDemographic and Economic Information \n \n10 \n \nThese schedules offer demographic and economic indicators to help \n \nthe reader understand the environment within which the System's \n \nfinancial activities take place. \n \nOperating Information \n \n10 \n \nThese schedules contain service and infrastructure data to help the reader \n \nunderstand how the information in the System's financial report relates \n \nto the services the System provides and the activities it performs. \n \nSources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. \n \n-82- \n \n -83- \n \nAssets: Cash and cash equivalents Property taxes receivable Due from other governments Other receivables Note receivable Investments Inventories Prepaid assets Capital assets not depreciable Capital assets, net of accumulated depreciation Other assets (net of accumulated amortization) \nTotal assets \nDeferred Outflows of Resources: \nLiabilities: Accounts payable and other current liabilities Accrued interest payable Unearned revenue Bonds payable - due within one year Long-term liabilities: Capitalized lease obligations - due within one year Capitalized lease obligations - due in more than one year Bond premium Bonds payable - due in more than one year Net pension liability Net OPEB liability \nTotal liabilities \nDeferred Inflows of Resources: \nNet Position: Net investment in capital assets Restricted for: Capital projects Debt service Other purposes Unrestricted \nTotal net position \n1 First year of implementation of GASB Statement No. 68. 2 First year of implementation of GASB Statement No. 75. \n \nGriffin-Spalding County School System Comparative Statement of Net Position, Last Ten Fiscal Years \n \n2011 \n$33,498,312 2,780,354 9,675,630 983,744 272,270 1,050,000 51,577 52,000 \n13,792,646 117,476,627 \n46,591 \n179,679,751 \n \n2012 \n$32,831,774 2,564,245 \n11,195,238 250,087 212,270 \n1,050,000 126,169 \n10,866,707 124,186,955 \n10,407 \n183,293,852 \n \n2013 \n$35,266,312 2,969,255 \n10,191,867 308,194 152,270 \n1,075,483 13,029 6,135 \n15,374,752 122,020,657 \n11,926 \n187,389,880 \n \n2014 \n$39,502,468 3,135,866 9,594,956 317,248 77,270 1,059,715 27,016 \n3,700,571 134,764,729 \n50,462 \n192,230,301 \n \nFiscal Year \n \n20151 \n \n2016 \n \n$44,312,538 2,767,012 9,661,485 359,288 \n \n$54,214,718 2,283,426 9,759,490 374,631 \n \n554,774 127,417 \n \n50,000 156,463 \n \n12,724,954 133,416,521 \n96,987 \n \n7,241,265 146,330,095 \n93,602 \n \n204,020,976 220,503,690 \n \n6,826,825 \n \n7,667,253 \n \n2017 \n$47,512,338 2,614,790 \n14,641,094 362,339 \n20,000 164,854 \n17,713,117 147,237,307 \n67,109 \n230,332,948 \n24,905,028 \n \n20182 \n$50,924,778 1,863,733 \n11,858,666 250,161 \n20,000 172,138 \n4,513,202 163,886,793 \n128,995 \n233,618,466 \n17,856,232 \n \n2019 \n$51,020,815 1,797,334 \n12,138,799 309,616 \n20,000 145,581 \n4,712,964 166,817,375 \n82,434 \n237,044,918 \n23,548,729 \n \n2020 \n$48,433,794 2,295,685 \n12,147,158 578,608 \n176,450 10,603 11,826,135 165,661,700 \n241,130,133 \n33,919,023 \n \n12,561,257 \n276,968 4,665,000 \n201,084 88,837 68,243 \n4,840,000 \n22,701,389 \n \n13,557,279 176,484 \n4,840,000 88,838 13,649 \n18,676,250 \n \n12,093,085 58,708 \n12,151,793 \n \n11,454,304 106,378 \n11,560,682 \n \n15,209,391 59,393 \n \n12,506,704 77,551 \n \n15,847,646 103,846 \n \n15,048,068 \n100,891 1,770,000 \n \n15,221,241 139,000 101,283 \n4,900,000 \n \n15,065,536 77,500 91,507 \n6,784,515 \n \n62,232,724 \n77,501,508 22,421,037 \n \n1,436,760 13,370,000 74,668,994 \n102,060,009 7,804,384 \n \n1,098,699 13,370,000 100,753,113 \n131,173,304 1,395,619 \n \n760,638 11,600,000 91,097,553 90,431,161 \n210,808,311 \n8,454,931 \n \n422,577 6,700,000 90,835,778 80,605,763 \n198,925,642 \n19,776,192 \n \n103,486,731 77,432,697 \n202,938,486 \n24,539,323 \n \n121,406,109 130,111,176 137,395,409 138,465,300 146,141,475 148,434,069 150,481,724 154,269,357 159,507,762 170,703,320 \n \n15,239,012 3,832,266 2,269,853 14,231,122 \n \n14,516,860 4,954,100 2,186,850 12,848,616 \n \n19,060,913 605 \n2,200,973 16,580,187 \n \n22,637,265 \n2,217,705 17,349,349 \n \n21,480,389 \n2,354,839 (59,051,447) \n \n21,361,113 283,916 \n2,132,742 (53,905,290) \n \n25,587,066 369,032 \n2,269,772 (56,038,541) \n \n26,540,689 517,219 \n2,400,891 (151,516,700) \n \n26,000,493 319,704 \n2,675,510 (146,611,656) \n \n14,975,160 6,786,601 2,688,806 (147,582,540) \n \n$156,978,362 $164,617,602 $175,238,087 $180,669,619 $110,925,256 $118,306,550 $122,669,053 $32,211,456 $41,891,813 $47,571,347 \n \n -84- \n \nGovernmental activities: \nCurrent and other assets Capital assets \nTotal assets \nDeferred Outflows of Resources \nCurrent and other liabilities Long-term liabilities outstanding \nTotal liabilities \nDeferred Inflows of Resources \nNet position: Net investment in capital assets Restricted Unrestricted \nTotal governmental activities net position \n1 First year of implementation of GASB Statement No. 68. \n \nGriffin-Spalding County School System Net Position by Component, Last Ten Fiscal Years \n \n2011 \n \n2012 \n \n2013 \n \n2014 \n \nFiscal Year \n \n20151 \n \n2016 \n \n2017 \n \n20182 \n \n2019 \n \n2020 \n \n$48,358,478 131,269,273 179,627,751 \n17,503,225 5,198,164 22,701,389 \n \n$48,240,190 135,053,662 183,293,852 \n18,573,763 102,487 \n18,676,250 \n \n$49,988,336 137,395,409 187,383,745 \n12,151,793 0 \n12,151,793 \n \n$53,765,001 138,465,300 192,230,301 \n11,560,682 0 \n11,560,682 \n \n$57,879,501 146,141,475 204,020,976 \n6,826,825 \n15,268,784 62,232,724 77,501,508 \n22,421,037 \n \n$66,932,330 153,571,360 220,503,690 \n7,667,253 \n12,584,255 89,475,754 102,060,009 \n7,804,384 \n \n$65,382,524 164,950,424 230,332,948 \n24,905,028 \n15,951,492 115,221,812 131,173,304 \n1,395,619 \n \n$65,218,471 168,399,995 233,618,466 \n17,856,232 \n16,918,959 193,889,352 210,808,311 \n8,454,931 \n \n$65,514,579 171,530,339 237,044,918 \n23,548,729 \n20,361,524 178,564,118 198,925,642 \n19,776,192 \n \n$63,642,298 177,487,835 241,130,133 \n33,919,023 \n22,019,058 180,919,428 202,938,486 \n24,539,323 \n \n121,406,109 21,341,131 14,231,122 \n \n130,111,176 21,657,810 12,848,616 \n \n137,395,409 21,262,491 16,580,187 \n \n138,465,300 24,854,970 17,349,349 \n \n146,141,475 23,835,228 \n(59,051,447) \n \n148,434,069 23,777,771 \n(53,905,290) \n \n150,481,724 28,225,870 \n(56,038,541) \n \n154,269,357 29,458,799 \n(151,516,700) \n \n159,507,762 28,995,707 \n(146,611,656) \n \n170,703,320 24,450,567 \n(147,582,540) \n \n$156,978,362 $164,617,602 $175,238,087 $180,669,619 $110,925,256 $118,306,550 $122,669,053 $32,211,456 $41,891,813 $47,571,347 \n \n -85- \n \nExpenses Governmental activities: \nInstruction Pupil support services Improvement of instructional services Educational media services General and school administration Business administration Maintenance and plant operations Student transportation services Central support services Other support services Food service operations Community services operations Interest on long-term debt Unallocated depreciation and other expenses \nTotal governmental activities expenses \nProgram Revenues Governmental activities: \nCharges for services: Instruction Food service operations \nOperating grants and contributions \nCapital grants and contributions \nTotal governmental activities program revenues \nNet (Expense) Revenue Governmental activities \nGeneral Revenues and Other Changes in Net Position Governmental activities: \nTaxes: Property taxes, levied for general purposes Special Purpose Local Option Sales Taxes \nInvestment earnings Gain on sale of fixed assets Miscellaneous \nTotal general revenues and other changes in net position governmental activities \nChange in Net Position \n \nGriffin-Spalding County School System Changes in Net Position, Last Ten Fiscal Years \n \n2011 \n \n2012 \n \n2013 \n \n2014 \n \nFiscal Year \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n2020 \n \n$63,217,366 3,155,458 4,540,524 1,928,462 8,175,375 330,052 8,507,364 3,799,576 1,154,965 1,309,216 5,619,731 149,722 535,173 228,752 \n102,651,736 \n \n$62,865,938 2,650,382 4,875,165 1,752,187 8,250,954 335,644 8,235,705 4,040,572 1,173,057 1,011,001 5,940,725 132,624 337,402 232,792 \n101,834,148 \n \n$60,807,268 2,367,075 4,288,607 1,524,908 8,068,277 348,784 8,405,731 4,394,079 1,257,984 1,181,099 6,125,485 126,811 123,280 244,769 \n99,264,157 \n \n$63,560,323 2,459,659 3,804,161 1,568,570 8,338,418 386,548 9,163,199 4,712,870 1,462,350 1,209,923 6,388,230 128,120 \n270,621 \n103,452,992 \n \n$61,195,688 2,397,156 4,344,137 1,551,391 8,560,997 373,588 8,747,253 4,854,254 1,567,518 1,347,676 6,334,315 129,182 \n231,702 \n101,634,857 \n \n$63,207,574 2,646,558 4,806,082 1,553,385 9,171,348 398,971 8,687,442 4,715,730 1,784,328 1,232,454 6,502,881 158,680 249,101 243,823 \n105,358,357 \n \n$68,115,614 3,405,213 6,065,947 1,701,942 10,664,979 448,078 9,051,874 5,365,352 1,837,944 981,592 6,793,323 150,809 276,066 199,477 \n115,058,210 \n \n$70,571,495 3,573,107 7,004,975 1,761,282 \n11,433,594 442,700 \n9,148,396 5,596,906 1,972,739 \n903,044 7,156,285 \n217,390 276,066 318,187 \n120,376,166 \n \n$67,870,442 3,508,379 7,030,486 1,690,025 \n11,067,871 466,909 \n9,405,687 5,331,174 1,716,182 1,013,974 6,104,243 \n216,000 392,440 442,320 \n116,256,132 \n \n$75,215,130 4,447,710 8,089,474 2,024,187 \n12,528,963 476,366 \n9,577,328 5,398,687 1,817,420 \n902,432 5,830,234 \n243,947 35,041 \n524,433 \n127,111,352 \n \n377,149 786,979 72,127,662 \n73,291,790 \n \n334,172 749,548 69,263,558 3,093,618 73,440,896 \n \n293,976 663,209 71,892,094 2,119,430 74,968,709 \n \n346,634 585,734 72,773,169 \n73,705,537 \n \n382,589 547,497 76,184,510 579,228 77,693,824 \n \n382,156 509,233 76,669,919 149,761 77,711,069 \n \n406,802 510,892 80,210,632 2,500,000 83,628,326 \n \n479,822 326,504 84,128,840 \n84,935,166 \n \n572,623 482,409 86,216,523 \n87,271,555 \n \n530,223 397,544 91,719,126 \n92,646,893 \n \n(29,359,946) (28,393,252) (24,295,448) (29,747,455) (23,941,033) (27,647,288) (31,429,884) (35,441,000) (28,984,577) (34,464,459) \n \n26,111,674 8,243,365 \n72,348 21,138 731,901 \n \n26,660,363 8,706,803 \n31,392 159,823 474,111 \n \n25,567,376 8,450,570 \n7,457 283,113 607,417 \n \n26,841,369 8,285,565 \n22,898 29,155 \n \n26,035,024 8,596,211 \n34,457 75,915 \n \n26,108,637 8,818,726 \n86,916 14,303 \n \n27,090,314 8,538,776 \n211,146 (47,849) \n \n27,111,736 9,019,297 \n584,818 \n \n27,951,586 9,691,463 \n999,994 21,891 \n \n29,129,366 10,477,785 \n536,842 \n \n35,180,426 $5,820,480 \n \n36,032,492 $7,639,240 \n \n34,915,933 $10,620,485 \n \n35,178,987 $5,431,532 \n \n34,741,607 $10,800,574 \n \n35,028,582 $7,381,294 \n \n35,792,387 $4,362,503 \n \n36,715,851 $1,274,851 \n \n38,664,934 $9,680,357 \n \n40,143,993 $5,679,534 \n \n Griffin-Spalding County School System Fund Balances, Governmental Funds Last Ten Fiscal Years \n \nGeneral Fund Reserved Unreserved Committed to: Risk Management Assigned to: Subsequent period expenditures Unassigned \nTotal general fund \n \n2011 1 \n \n2012 \n \n2013 \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n2020 \n \n$366,497 \n \n$409,223 \n \n$428,995 \n \n$444,070 \n \n$334,926 \n \n$348,175 \n \n$451,258 \n \n$505,527 \n \n$559,064 \n \n$559,064 \n \n$3,125,760 $6,630,770 \n \n$8,222,547 \n \n$400,693 $11,487,321 \n \n$12,448,015 \n \n$14,423,807 \n \n$16,646,486 \n \n$16,953,863 \n \n$16,902,449 \n \n$17,497,166 \n \n$20,195,351 \n \n$10,123,027 $8,631,770 $12,317,009 $12,892,085 $14,758,733 $16,994,661 $17,405,121 $17,407,976 $18,056,230 $20,754,415 \n \n-86- \n \nAll Other Governmental Funds \nReserved \nUnreserved, reported in: \nDebt service funds \nCapital projects funds \nSpecial revenue funds Nonspendable Restricted for: \nDebt service funds Capital projects funds Continuation of federal and state programs Committed to: School activity funds and other programs Assigned to: Permanent funds Capital projects funds Unassigned \n \n1,358,704 \n3,832,266 15,239,012 \n1,021,787 \n905,857 \n86,126 662,008 \n(7,061) \n \n1,264,789 \n4,954,100 14,516,860 \n978,601 \n943,830 \n88,606 737,514 \n \n1,183,886 \n605 19,060,913 \n1,027,880 \n993,205 \n79,366 654,914 \n \n1,159,714 \n22,637,265 1,061,959 958,252 80,833 800,518 \n \n1,266,522 \n21,480,389 1,215,734 \n998,146 80,433 \n901,543 \n \n1,278,930 \n283,916 31,030,582 1,010,275 \n963,413 \n78,613 885,313 \n \n1,275,750 \n369,032 25,587,066 1,158,876 \n679,641 \n75,089 887,220 \n \n1,279,328 \n517,219 26,540,689 1,293,701 \n612,685 \n72,390 891,678 \n \n1,260,374 \n458,704 26,000,493 1,560,717 \n532,378 \n70,843 900,164 \n \n1,290,972 \n6,864,101 14,975,160 1,574,284 \n629,695 \n71,627 905,339 \n \nTotal all other governmental funds \n \n$23,098,699 $23,484,300 $23,000,769 $26,698,541 $25,942,767 $35,531,042 $30,032,674 $31,207,690 $30,783,673 $26,311,178 \n \n1 First year of implementation of GASB Statement No. 54. \n \n -87- \n \nRevenues State Funds Federal Funds Local and Other Funds \nTotal Revenues \nExpenditures Current operating Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General and School Administration Business Administration Maintenance and Operations of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operations Community Services Operations Other Operations of Non-Instructional Services Debt Service Principal Retirement Interest and Fiscal Charges Capital Outlay \nTotal Expenditures \nExcess (Deficiency) of Revenues over (under) expenditures \nOther Financing Sources (Uses) Proceeds from issuance of bonds Premium on issuance of bonds Capital Leases Proceeds from sale of assets Operating Transfers In Operating Transfers Out \nTotal Other Financing Sources (Uses) \nNet change in fund balance \nDebt service as a percentage of noncapital expenditures \n \nGriffin-Spalding County School System Changes in Fund Balances, Governmental Funds \nLast Ten Fiscal Years \n \n2011 \n \n2012 \n \n2013 \n \n2014 \n \nFiscal Year \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n2020 \n \n$53,242,210 16,691,914 38,846,616 \n108,780,740 \n \n$54,158,030 16,165,493 39,167,672 \n109,491,195 \n \n$57,015,876 14,609,040 37,875,737 \n \n$56,516,224 13,992,709 38,257,965 \n \n$59,861,710 13,994,514 39,046,240 \n \n$62,018,558 12,927,458 38,067,891 \n \n$66,809,022 13,657,932 38,951,158 \n \n$67,724,853 14,371,828 40,271,954 \n \n$69,740,617 14,356,100 42,038,590 \n \n$76,071,257 13,884,397 42,786,800 \n \n109,500,653 108,766,898 112,902,464 113,013,907 119,418,112 122,368,635 126,135,307 132,742,454 \n \n61,224,513 \n3,155,458 4,583,898 1,850,640 8,320,708 \n330,052 7,997,423 3,530,820 1,158,270 1,309,216 5,652,494 \n149,722 \n \n61,049,695 \n2,650,382 4,878,330 1,671,982 8,287,053 \n335,644 7,757,671 4,180,543 1,171,163 1,011,001 6,033,570 \n132,624 \n \n58,259,041 \n2,367,075 4,259,348 1,442,319 8,095,367 \n348,784 7,976,520 4,342,653 1,250,969 1,181,099 5,830,828 \n126,811 \n \n60,249,928 \n2,459,659 3,784,362 1,483,960 8,339,489 \n386,548 8,745,331 5,383,792 1,472,731 1,209,923 6,078,352 \n128,120 \n \n61,212,322 \n2,485,603 4,471,213 1,525,756 8,774,022 \n384,124 8,141,627 5,304,096 1,606,199 1,347,676 6,055,545 \n134,392 \n \n60,524,508 \n2,744,447 4,875,616 1,528,079 9,414,878 \n417,103 8,170,130 5,167,386 1,861,594 1,232,454 6,260,483 \n164,403 \n \n63,991,267 \n3,320,385 5,860,610 1,558,477 10,446,030 \n433,398 8,139,176 5,630,221 1,774,981 \n981,592 6,418,612 \n145,962 \n \n66,380,237 \n3,474,417 6,814,720 1,610,344 11,276,031 \n436,233 8,213,363 5,559,023 1,980,364 \n903,044 6,608,707 \n213,234 \n \n67,823,600 \n3,669,460 7,125,681 1,668,656 11,587,403 \n480,116 8,493,445 5,868,255 1,727,930 1,013,974 5,916,480 \n216,000 \n \n70,160,893 \n4,300,325 7,762,329 1,837,253 12,074,798 \n452,371 9,302,149 5,619,992 1,763,593 \n899,070 5,458,926 \n234,631 \n \n4,687,021 535,173 \n5,423,135 \n109,908,543 \n \n4,866,084 337,402 \n6,467,491 \n110,830,635 \n \n4,928,832 123,280 \n6,109,132 \n \n4,917,055 \n \n10,534,389 \n \n446,083 13,541,664 \n \n614,127 15,205,713 \n \n614,127 7,106,920 \n \n1,770,000 591,501 \n7,980,460 \n \n4,900,000 434,602 \n9,315,832 \n \n106,642,058 104,639,250 111,976,964 116,348,828 124,520,551 121,190,764 125,932,961 134,516,764 \n \n(1,127,803) (1,339,440) \n \n2,858,595 \n \n4,127,648 \n \n925,500 (3,334,921) (5,102,439) 1,177,871 \n \n202,346 (1,774,310) \n \n81,138 81,138 \n \n233,784 8,698 \n(8,698) \n233,784 \n \n343,113 47,444 \n(47,444) \n343,113 \n \n145,200 153,320 (153,320) \n145,200 \n \n13,370,000 1,774,821 \n \n185,374 166,218 (166,218) \n \n14,303 123,607 (123,607) \n \n185,374 15,159,124 \n \n14,531 408,319 (408,319) \n14,531 \n \n835,238 (835,238) \n0 \n \n21,891 358,667 (358,667) \n21,891 \n \n2,000,822 (2,000,822) \n0 \n \n($1,046,665) ($1,105,656) $3,201,708 $4,272,848 $1,110,874 $11,824,203 ($5,087,908) $1,177,871 \n \n$224,237 ($1,774,310) \n \n5.00% \n \n4.99% \n \n5.03% \n \n0.00% \n \n0.00% \n \n0.43% \n \n0.56% \n \n0.54% \n \n2.00% \n \n4.26% \n \n Griffin-Spalding County School System Revenues by Source, Last Ten Fiscal Years \nGeneral Fund \n \n$120,000,000 $100,000,000 \n$80,000,000 $60,000,000 $40,000,000 $20,000,000 \n$0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \nState Federal Local \n \nYear Ended \n \nLocal \u0026 \n \nJune 30 \n \nOther Funds \n \n2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \n27,608,225 27,673,947 26,843,508 27,530,900 27,985,727 26,808,279 27,698,030 28,773,516 29,420,202 30,051,834 \n \nState Funds \n47,914,514 46,155,540 49,837,533 51,380,415 53,982,459 56,521,227 58,652,259 62,165,007 64,435,501 70,722,124 \n \nFederal Funds \n \nTotal Revenues \n \n2,232,918 300,250 306,186 283,899 348,721 443,798 497,735 601,751 504,310 611,847 \n \n77,755,657 74,129,737 76,987,227 79,195,214 82,316,907 83,773,304 86,848,024 91,540,274 94,360,013 101,385,805 \n \n-88- \n \n Griffin-Spalding County School System Percentage Change in Revenues by Source, Last Ten Fiscal Years \nGeneral Fund \n \nTotal Dollars \n \nYear Ended Local \u0026 June 30 Other Funds \n \n2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \n27,608,225 27,673,947 26,843,508 27,530,900 27,985,727 26,808,279 27,698,030 28,773,516 29,420,202 30,051,834 \n \nState Funds \n47,914,514 46,155,540 49,837,533 51,380,415 53,982,459 56,521,227 58,652,259 62,165,007 64,435,501 70,722,124 \n \nFederal Funds \n \nTotal Revenues \n \n2,232,918 300,250 306,186 283,899 348,721 443,798 497,735 601,751 504,310 611,847 \n \n77,755,657 74,129,737 76,987,227 79,195,214 82,316,907 83,773,304 86,848,024 91,540,274 94,360,013 101,385,805 \n \nPercentage Change 1 \n \n8.9% \n \n47.6% \n \n-72.6% \n \n30.4% \n \nPercentage of Dollars \n \nYear Ended Local \u0026 June 30 Other Funds \n \n2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \n35.51% 37.33% 34.86% 34.76% 34.00% 32.00% 31.88% 31.43% 31.18% 29.64% \n \nState Funds \n61.62% 62.26% 64.73% 64.88% 65.58% 67.47% 67.53% 67.91% 68.29% 69.76% \n \nFederal Funds \n \nTotal Revenues \n \n2.87% 0.41% 0.40% 0.36% 0.42% 0.53% 0.57% 0.66% 0.53% 0.60% \n \n100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% \n \n1Percentage change computed by using the following formula: (2020 revenue/2011 revenue)-1 = percentage change \n \n-89- \n \n Griffin-Spalding County School System Per Pupil Revenues by Source, Last Ten Fiscal Years \nGeneral Fund \n \nUNAUDITED \n \n12,000 10,000 \n8,000 6,000 4,000 2,000 \n0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \nState Federal Local \n \nYear Ended Total \n \nStudent \n \nLocal \u0026 \n \nJune 30 \n \nRevenues Enrollment 1 Other Funds \n \nPer Pupil \n \nState \n \nFederal \n \nFunds \n \nFunds \n \nTotal Revenues 2 \n \n2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \n77,755,657 74,129,737 76,987,227 79,195,214 82,316,907 83,773,304 86,848,024 91,540,274 94,360,013 101,385,805 \n \n10,685 10,614 10,582 10,626 10,474 10,261 10,305 10,383 10,353 10,207 \n \n2,584 2,607 2,536 2,591 2,672 2,613 2,688 2,771 2,842 3,097 \n \n4,484 4,349 4,710 4,835 5,154 5,508 5,692 5,987 6,224 6,783 \n \n209 \n \n7,277 \n \n28 \n \n6,984 \n \n29 \n \n7,275 \n \n27 \n \n7,453 \n \n33 \n \n7,859 \n \n43 \n \n8,164 \n \n48 \n \n8,428 \n \n58 \n \n8,816 \n \n49 \n \n9,114 \n \n53 \n \n9,933 \n \nPercentage Change 3 \n \n30.4% \n \n-4.5% \n \n19.9% \n \n51.3% \n \n-74.6% \n \n36.5% \n \n1 Student enrollment figures are taken from fall enrollment (October 1) reports. 2 Revenues restated on a per pupil basis by using the following formula: \nRevenue/current enrollment = per pupil revenue 3 Percentage change computed by using the following formula: \n(2019 revenue/2010 revenue)-1 = percentage change \n \n-90- \n \n Griffin-Spalding County School System Assessed Value and Actual Value of Taxable Property, \nLast Ten Calendar Years \nSet forth below is information concerning the assessed (40% of fair market value) and estimated actual (fair market) value of taxable property within the District for the last ten years. \n \nUNAUDITED \n \nCalendar \nYear \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \nMillage \nRate \n18.80 19.06 19.47 19.47 19.47 18.74 18.57 18.204 18.066 17.077 \n \nReal \u0026 Personal \nProperty \n1,535,823,213 1,511,231,094 1,462,533,127 1,445,747,006 1,430,057,323 1,487,458,607 1,540,851,109 1,569,750,981 1,614,788,900 1,769,779,061 \n \nAssessed Values \n \nPublic Utilities \n \nMotor Vehicles \n \n26,487,026 31,294,800 34,640,971 34,269,621 33,809,411 33,811,678 33,513,721 36,086,991 33,513,721 36,620,534 \n \n115,267,630 113,708,460 119,331,500 124,174,530 104,295,620 77,650,790 59,914,540 \n45,370,860 36,046,170 30,432,310 \n \nMobile \nHomes \n1,945,727 1,831,893 1,737,824 1,645,629 2,275,598 2,168,548 3,230,420 3,030,682 3,300,026 3,247,676 \n \nGross Tax Digest \n \nBond Exemptions \n \nGeneral Obligation Bonds \nTax Digest1 \n \nMaintenance \u0026 Operation \nExemptions \n \nMaintenance \u0026 Operation Tax Digest2 \n \n1,679,523,596 1,658,066,247 1,618,243,422 1,605,836,786 1,570,437,952 1,601,089,623 1,637,509,790 1,654,239,514 1,687,648,817 1,840,079,581 \n \n122,376,559 147,310,052 149,965,965 120,465,804 130,528,110 137,073,427 132,209,935 125,127,703 127,223,132 162,968,640 \n \n1,557,147,037 1,510,756,195 1,468,277,457 1,485,370,982 1,439,909,842 1,464,016,196 1,505,299,855 1,529,111,811 1,560,425,685 1,677,110,941 \n \n216,690,191 246,727,800 248,484,241 223,127,568 236,423,353 244,984,605 243,756,849 233,376,929 241,692,560 295,181,373 \n \n1,462,833,405 1,411,338,447 1,369,759,181 1,382,709,218 1,334,014,599 1,356,105,018 1,393,752,941 1,420,862,585 1,445,956,257 1,544,898,208 \n \nEstimated Actual \nValue \n4,198,808,990 4,145,165,618 4,045,608,555 4,014,591,965 3,926,094,880 4,002,724,058 4,093,774,475 4,135,598,785 4,219,122,043 4,600,198,953 \n \n-91- \n \n1Total assessed value, after deducting exemptions, for purposes of levying tax for the System's general obligation bonds. 2Total assessed value, after deducting exemptions, for purposes of levying tax for the support and maintenance of the System's school system. \nSource: State of Georgia Department of Revenue, Property Tax Division \n \n Griffin-Spalding County School System Millage Rates of the District Last Ten Calendar Years \n \nUNAUDITED \n \n-92- \n \nSet forth below is information concerting the rate of levy of property taxes per $1,000 of assessed value, or millage rates, of the School System and all overlapping governments for the last ten calendar years. \n \nCalendar Year \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \nSupport and Maintenance \n18.80 19.06 19.47 19.47 19.47 18.74 18.57 18.204 18.066 17.077 \n \nSchool System \n \nLegal \n \nDebt \n \nLimit \n \nService \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \nTotal \n18.80 19.06 19.47 19.47 19.47 18.74 18.57 18.204 18.066 17.077 \n \nSpalding County 1 \n14.81 15.01 15.01 16.01 16.01 16.01 15.66 15.36 16.535 16.535 \n \nFire District \n4.17 4.17 4.17 4.17 4.17 4.17 3.61 3.61 3.61 3.61 \n \nState of Georgia \n0.25 0.25 0.20 0.15 0.10 0.05 0.00 0.00 0.00 0.00 \n \nCounty-wide Total \n38.03 38.49 38.85 39.80 39.75 38.97 37.84 37.17 38.21 37.22 \n \nCity of Griffin \n8.64 8.64 8.64 8.61 8.40 7.89 7.77 7.77 7.639 7.083 \n \nCity of Orchard Hill \n4.95 4.95 4.95 6.31 6.31 6.31 6.31 5.941 5.941 5.610 \n \nCity of Sunny-Side \n4.29 4.29 4.08 5.00 5.00 5.00 5.00 5.00 5.00 4.79 \n \n1 Represents the millage rate for the unincoporated areas of Spalding County. The millage rate for the incorporated areas of Spalding County for calendar year 2019 was 16.535. \nSource: Spalding County Tax Commissioner \n \n Pulte Home Company LLC Toppan North Griffin Square LLC Dematic Corporation Central GA EMC Walmart Stores Transcontinental Hoshizaki America Inc. Caterpillar Inc. Bandag Bridgestone Norcom Tenet Healthcare Corp. AEP Industries Halpern Industries Nacom Corporation North Spalding Development \nTotals \n \nGriffin-Spalding County School System Principal Property Tax Payers, \nCurrent Year and Nine Years Ago \n \nUNAUDITED \n \nTaxes Levied \n$261,724 222,652 182,681 169,220 161,599 151,622 150,666 146,362 138,139 136,461 \n \n2020 1 \n \nRank \n \nPercentage of \nTotal Tax Levy 2 \n \n1 \n \n0.99% \n \n2 \n \n0.84% \n \n3 \n \n0.69% \n \n4 \n \n0.64% \n \n5 \n \n0.61% \n \n6 \n \n0.57% \n \n7 \n \n0.57% \n \n8 \n \n0.55% \n \n9 \n \n0.52% \n \n10 \n \n0.52% \n \n$1,721,126 \n \n6.52% \n \nTaxes Levied \n$153,972 \n \n2011 \n \nRank \n \nPercentage of \nTotal Tax Levy 3 \n \n5 \n \n0.56% \n \n124,141 164,570 \n423,686 \n127,039 271,785 136,652 119,654 115,961 160,281 \n$1,797,741 \n \n8 \n \n0.45% \n \n3 \n \n0.60% \n \n1 \n \n1.54% \n \n7 \n \n0.46% \n \n2 \n \n0.99% \n \n6 \n \n0.50% \n \n9 \n \n0.44% \n \n10 \n \n0.42% \n \n4 \n \n0.58% \n \n6.54% \n \n1 Represents calendar year 2019 assessed values before bond and maintenance and operation exemptions 2 Calendar year 2019 total tax levy was $26,415,960 3 Calendar year 2010 total tax levy was $27,501,268 \nSource: Spalding County Tax Commissioner \n \n-93- \n \n Griffin-Spalding County School System Property Tax Levies and Collections, Last Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year \n \nTaxes Levied for the \nFiscal Year \n \nCollected within the Fiscal Year of the Levy \n \nAmount \n \nPercentage of Levy \n \nCollections in Subsequent \nYears \n \n2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \n27,501,268 26,900,111 26,669,211 26,921,348 25,973,264 25,353,871 25,898,024 25,865,382 26,122,303 26,415,960 \n \n25,073,703 25,098,857 24,609,215 24,300,171 23,590,360 23,599,123 24,228,304 24,521,853 24,166,699 24,476,290 \n \n91.17% 93.30% 92.28% 90.26% 90.83% 93.08% 93.55% 94.81% 92.51% 92.66% \n \n1,473,522 1,469,476 1,515,491 1,323,931 1,105,894 \n891,832 847,310 611,430 563,917 \n \nSource: Spalding County Tax Commissioner \n \nTotal Collections to Date \n \nAmount \n \nPercentage of Levy \n \n26,547,225 26,568,333 26,124,706 25,624,102 24,696,254 24,490,955 25,075,614 25,133,283 24,730,616 24,476,290 \n \n96.53% 98.77% 97.96% 95.18% 95.08% 96.60% 96.82% 97.17% 94.67% 92.66% \n \n-94- \n \n -95- \n \nGross Tax Digest Components \n2,000,000,000 1,800,000,000 1,600,000,000 1,400,000,000 1,200,000,000 1,000,000,000 \n800,000,000 600,000,000 400,000,000 200,000,000 \n0 \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Calendar Year \n \nMobile Homes \nMotor Vehicles \nPublic Utilities \nReal \u0026 Personal Property \n \n Griffin-Spalding County School System Ratio of Annual Debt Service to Total \nGovernmental Fund Expenditures Last Ten Fiscal Years \n \nYear Ended June 30 \n2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \nPrincipal \n \nInterest \n \nTotal Debt Service \n \nTotal Governmental \nFund Expenditures \n \nRatio of Debt Service to \nGovernmental Fund \nExpenditures \n \n4,687,021 4,866,084 4,928,832 \n0 0 0 0 0 1,770,000 4,900,000 \n \n535,173 337,402 123,280 \n0 0 446,083 614,127 614,127 591,501 434,602 \n \n5,222,194 5,203,486 5,052,112 \n0 0 446,083 614,127 614,127 2,361,501 5,334,602 \n \n109,908,542 110,830,635 106,642,058 104,639,250 111,976,964 116,348,828 124,520,551 121,190,764 125,932,961 134,516,763 \n \n4.75% 4.69% 4.74% 0.00% 0.00% 0.38% 0.49% 0.51% 1.88% 3.97% \n \n-96- \n \n Griffin-Spalding County School System Ratio of Net Bonded Debt to Estimated Actual Value \nand General Bonded Debt Per Capita Last Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year Ended \nJune 30 \n \nEstimated Population1 \n \nEstimated Actual Value \n \nGeneral Bonded \nDebt \n \nLess Debt Service Funds \n \nNet Bonded Debt \n \nRatio of Net Bonded Debt to Estimated Actual Value \n \nNet Bonded Debt \nPer Capita \n \n2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \n64,087 64,032 63,682 63,509 63,694 63,826 64,570 65,403 66,100 66,703 \n \n4,198,808,990 4,145,165,618 4,045,608,555 4,014,591,965 3,926,094,880 4,002,724,058 4,093,774,475 4,135,598,785 4,219,122,043 4,600,198,953 \n \n9,573,243 4,853,649 \n0 0 0 14,806,760 14,468,699 14,130,638 12,022,577 6,784,516 \n \n3,832,266 4,954,100 \n605 0 0 \n283,916 369,032 517,219 458,704 6,864,101 \n \n5,740,977 -100,451 \n-605 0 0 \n14,522,844 14,099,667 13,613,419 11,563,873 \n-79,585 \n \n0.14% 0.00% 0.00% 0.00% 0.00% 0.36% 0.34% 0.33% 0.27% 0.00% \n \n89.58 (1.57) (0.01) 0.00 0.00 227.54 218.36 208.15 174.95 (1.19) \n \n-97- \n \n Griffin-Spalding County School System Outstanding Debt, By Type Last Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year Ended June 30, \n2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \nGovernmental Activities \n \nGeneral \n \nCapital \n \nObligation \n \nLease \n \nBonds \n \nObligations \n \n9,573,243 4,853,649 \n0 0 0 14,806,760 14,468,699 14,130,638 12,022,577 6,784,516 \n \n481,943 289,922 \n88,838 0 0 0 0 0 0 0 \n \nTotal Primary Government \n10,055,186 5,143,571 88,838 0 0 \n14,806,760 14,468,699 14,130,638 12,022,577 \n6,784,516 \n \nPercentage of Personal \nIncome1 \n0.57% 0.28% 0.00% 0.00% 0.00% 0.73% 0.68% 0.64% 0.52% 0.30% \n \nPer Capita1 \n156.95 80.34 1.40 0.00 0.00 \n231.98 224.14 216.13 181.88 101.71 \n \nNote: Details regarding the System's outstanding debt can be found in the notes to the financial statements. \n1See the Schedule of Demographic and Economic Statistics for personal income and population data. The Bureau of Economic Analysis revised estimates for years 2010-2017 in March 2018. \n \n-98- \n \n Griffin-Spalding County School System Direct and Overlapping Governmental Activities Debt \nAs of June 30, 2020 \n \nUNAUDITED \n \nGovernmental Unit \nDebt repaid with property taxes: Spalding County: General obligation bonds Certificates of participation Capital leases Intergovernmental Contracts City of Griffin: General obligation bonds Capital leases Intergovernmental Contracts \nSub-total, overlapping debt \n \nDirect: \n \nGriffin-Spalding County School System: General obligation bonds \nSub-total, direct debt \nTotal, overlapping and direct debt \n \nDebt Outstanding \n \nPercentage Applicable \n \nShare of Overlapping Debt \n \n$8,800,000 2,500,000 5,612,143 2,815,000 \n7,149,402 1,548,043 2,815,500 \n$31,240,088 \n \n100% \n \n$31,240,088 \n \n6,784,516 $6,784,516 \n \n100% \n \n$6,784,516 $38,024,604 \n \nNotes: In addition to the System's debt obligations, property owners in the System are responsible for certain debt obligations of other taxing entities in the proportion to which the jurisdiction of the System overlaps such entities. Set forth below is the estimated overlapping general obligation debt and estimated overlapping property tax supported or guaranteed revenue debt of the System as of June 30, 2020. The percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable percentages were estimated by determining the portion of the municipality/authority's taxable assessed value that is within the School System's boundaries and dividing it by the municipality/authority's total taxable assessed value. Although the System has attempted to obtain accurate information as to the outstanding overlapping debt, it does not warrant its completeness or accuracy, as there is no central reporting entity which has this information available, and the amounts are based on information supplied by others. \nSource: Spalding County, GA and City of Griffin, GA \n \n-99- \n \n Griffin-Spalding County School System Legal Debt Margin \nLast Ten Fiscal Years \n \nUNAUDITED \n \nAssessed Value of Taxable Property \nDebt Limit (10% of Assessed Value) \nAmount of Debt Applicable To Debt Limit \nLegal Debt Margin \nLegal Debt Margin/ Limit Ratio \n \n2011 $1,524,221,716 \n \n2012 $1,510,756,185 \n \n2013 \n \n2014 \n \n$1,468,277,457 $1,485,370,982 \n \n2015 $1,439,909,842 \n \n2016 \n \n2017 \n \n$1,464,016,196 $1,505,299,855 \n \n2018 \n \n2019 \n \n2020 \n \n$1,529,111,811 $1,560,425,685 $1,544,875,574 \n \n$152,422,172 \n \n$151,075,619 $146,827,746 $148,537,098 \n \n$143,990,984 $146,401,620 $150,529,986 $152,911,181 $156,042,569 $154,487,557 \n \n9,573,243 $142,848,929 \n \n4,853,649 $146,221,970 \n \n0 $146,827,746 \n \n0 $148,537,098 \n \n0 $143,990,984 \n \n14,806,760 $131,594,860 \n \n14,468,699 $136,061,287 \n \n14,130,638 $138,780,543 \n \n12,022,577 $144,019,992 \n \n6,784,516 $147,703,041 \n \n93.72% \n \n96.79% \n \n100.00% \n \n100.00% \n \n100.00% \n \n89.89% \n \n90.39% \n \n90.76% \n \n92.30% \n \n95.61% \n \n-100- \n \nNotes: The Constitution of the State of Georgia provides that the System may not incur long-term obligations payable out of general property taxes without the approval of a majority of the qualified voters of the System voting at an election called to approve the obligations. In addition, under the Constitution of the State of Georgia, the System may not incur long-term obligations payable out of general property taxes in excess of 10 percent of the assessed vaule of all taxable property within the System. \nSource: Spalding County Tax Commissioner \n \n Griffin-Spalding County School System Demographics - Population Latest Census Data \n \nUNAUDITED \n \nPopulation \nPopulation, 2017 est. Population, 2010 Population, percent change, 2010 to 2019 Population, 2000 Population, percent change, 2000 to 2010 Population, percent change, 1990 to 2000 Persons under 5 years old, percent, 2019 Persons under 18 years old, percent, 2019 Persons 65 years old and over, percent, 2019 Female persons, percent, 2019 \nWhite persons, percent, 2019 (a) Black or African American persons, percent, 2019 (a) American Indian and Alaska Native persons, percent, 2019 (a) Asian persons, percent, 2019 (a) Native Hawaiian and Other Pacific Islander, percent, 2019 (a) Persons reporting two or more races, percent, 2019 White persons, not of Hispanic/Latino origin, percent, 2019 Persons of Hispanic or Latino origin, percent, 2019 (b) \nLiving in same house 1 year \u0026 over, 2014-2018 Language other than English spoken at home, pct age 5+, 2014-2018 High school graduates, percent of persons age 25+, 2014-2018 Bachelor's degree or higher, pct of persons age 25+, 2014-2018 Veterans, 2014-2018 Foreign born persons, percent, 2014-2018 Mean travel time to work (minutes), workers age 16+, 2014-2018 \n \nSpalding County \n66,703 64,109 4.00% 58,417 9.7% 7.3% 6.4% 23.5% 18.3% 52.0% \n61.5% 34.9% 0.5% 1.0% 0.1% 1.9% 57.5% 5.0% \n89.8% 3.9% 81.9% 16.4% 4,437 2.9% 29.1 \n \n-101- \n \n UNAUDITED \n \nGriffin-Spalding County School System Demographics - Housing, Business \u0026 Industry, and Geography \nLatest Census Data (Continued) \n \nHousing \nHousing units, 2019 Homeownership rate, 2014-2018 Median value of owner-occupied housing units, 2014-2018 \nHouseholds, 2014-2018 Persons per household, 2014-2018 Median household income, 2014-2018 Persons below poverty, percent, 2014-2018 Building permits, 2019 \nBusiness \u0026 Industry \nUnemployment rate, 2019 Annual Average Nonemployer establishments, 2018 Manufacturers shipments, 2012 ($1000) Retail sales, 2012 ($1000) Retail sales per capita, 2012 Women-owned firms, percent of total, 2012 \n \n27,795 60.2% $122,300 \n24,137 2.63 $42,671 17.3% 417 \n4.0% 5,166 2,404,744 638,821 $10,003 40.0% \n \nGeography \nLand area, 2010 (square miles) Persons per square mile, 2010 FIPS Code Metropolitan or Micropolitan Statistical Area \n(a) Includes persons reporting only one race. (b) Hispanics may be of any race, so also are included in applicable race categories. Z: Value greater than zero but less than half unit of measure shown \nSource: US Census Bureau State \u0026 County QuickFacts Source: Griffin-Spalding Chamber of Commerce Source: Bureau of Labor Statistics \n \n196.47 326.1 255 Atlanta, GA Metro Area \n \n-102- \n \n Griffin-Spalding County School System Demographics - Income Statistics Latest Three Years Available \n \nUNAUDITED \n \nIncome \nPersonal income ($000) Net earnings Personal current transfer receipts Income maintenance Unemployment insurance compensation Retirement and other Dividends, interest, and rent \n \n2016 $2,124,586 1,149,982 \n639,486 86,939 2,684 \n549,863 335,118 \n \n2017 $2,185,919 1,181,236 \n654,698 86,896 2,453 \n565,349 349,985 \n \n2018 $2,298,405 1,238,600 \n685,580 84,189 2,195 599,196 \n374,225 \n \nPopulation (persons)1 Per capita personal income Per capita net earnings Per capita personal current transfer receipts Per capita income maintenance Per capita unemployment insurance benefits Per capita retirement and other Per capita dividends, interest, and rent \n \n64,570 32,904 17,810 9,904 1,346 \n42 8,516 5,190 \n \n65,403 33,422 18,061 10,010 1,329 \n38 8,644 5,351 \n \n66,100 34,772 18,738 10,372 1,274 \n33 9,065 5,661 \n \nEarnings by place of work ($000) Wage and salary disbursements Supplements to wages and salaries Employer contributions for employee pension and insurance funds Employer contributions for government social insurance Proprietors' income Nonfarm proprietors' income Farm proprietors' income \n \n1,201,282 858,953 245,301 184,779 60,522 97,028 99,571 -2,543 \n \n1,246,049 900,921 253,126 190,093 63,033 92,002 94,570 -2,568 \n \n1,288,639 930,962 261,473 197,829 63,644 96,204 99,157 -2,953 \n \nTotal full-time and part-time employment Wage and salary jobs Number of proprietors \nNumber of nonfarm proprietors Number of farm proprietors \n \n31,851 24,424 \n7,427 7,204 \n223 \n \n32,292 24,610 \n7,682 7,464 \n218 \n \n32,066 24,173 \n7,893 7,679 \n214 \n \nAverage earnings per job (dollars) Average wage and salary disbursements Average nonfarm proprietors' income \n1 Census Bureau midyear population estimates. \n \n37,716 35,168 13,822 \n \n38,587 36,608 12,670 \n \n40,187 38,512 12,913 \n \nSource: Regional Economic Information System, Bureau of Economic Analysis, U.S. Department of Commerce - Table CA30 The Bureau of Economic Analysis revised estimates for years 2010-2018 in March 2019 . The amounts reflected in this table are the revised numbers. The figures provided are the latest available. \n \n-103- \n \n Griffin-Spalding County School System Demographic and Economic Statistics \nLast Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year \n2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \nPopulation1 \n64,066 64,021 63,680 63,505 63,695 63,828 64,553 65,380 66,100 66,703 \n \nPersonal Income1 \n1,750,789 1,865,725 1,859,395 1,869,815 1,949,818 2,041,383 2,129,814 2,208,980 2,298,405 \nN/A \n \nPer Capita Personal Income1 \n27,328 29,142 29,199 29,444 30,612 31,983 32,993 33,787 34,772 \nN/A \n \nSchool Enrollment2 \n10,685 10,614 10,582 10,626 10,474 10,261 10,305 10,383 10,353 10,207 \n \nUnemployment Rate3 \n13.00% 12.80% 11.30% 10.70% \n9.50% 7.80% 6.00% 5.80% 4.70% 4.00% \n \n-104- \n \nData Sources: 1 Bureau of Economic Analysis: Regional Economic Accounts and U.S. Census Bureau (mid year estimates) 2 Spalding County Board of Education 3 U.S. Bureau of Labor Statistics \n \n Griffin-Spalding County School System Principal Employers \nCurrent Year and Nine Years Ago \n \nUNAUDITED \n \nEmployer \nGriffin-Spalding County School System Caterpillar, Inc. Wellstar Spalding Regional Medical Southern Crescent Technical College Spalding County CareMaster Medical City of Griffin University of Georgia Griffin Campus Norcom 1888 Mills/Southern Terry AEP Industries, Inc. \n \nIndustry \nEducation Automotive generators Healthcare Education Government Home Nursing Government Agricultural research School supplies Terry cloth towels Packaging film \n \nEmployees \n1,496 900 900 640 606 600 451 405 280 278 \n6,556 \n \n2020 \nRank \n1 2 3 4 5 6 7 8 9 10 \n \nPercentage of Total County Employment \n6.59 % 3.96 3.96 2.82 2.67 2.64 1.99 1.78 1.23 1.22 0.00 \n28.85 % \n \nEmployees \n1,512 900 900 360 536 \n478 405 280 375 250 \n5,996 \n \n2011 \nRank \n1 2 3 7 4 \n5 8 9 6 10 \n \nPercentage of Total County Employment \n7.19 % 4.28 4.28 1.71 2.55 \n2.27 1.93 \n1.78 1.19 \n28.52 % \n \n-105- \n \nSource: Griffin-Spalding Development Authority \n \n -106- \n \nClassroom Teachers Media Specialists,Counselors \nPsychologists, and Social Worker Administrators and Supervisors Professional/Technical Support Paraprofessionals, Clerical, Other Maintenance, Transportation, Custodians, \nand School Food Service \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System Employees of the District Last Ten Fiscal Years \n \nUNAUDITED \n \n2011 749 \n50 64 51 310 \n352 1,576 \n \n2012 717 \n53 62 51 270 \n359 1,512 \n \n2013 673 \n49 55 51 277 \n350 1,455 \n \n2014 657 \n51 55 43 268 \n345 1,419 \n \n2015 674 \n51 60 57 255 \n360 1,457 \n \n2016 658 \n51 65 53 277 \n351 1,455 \n \n2017 676 \n53 66 53 295 \n355 1,498 \n \n2018 674 \n54 75 52 293 \n340 1,488 \n \n2019 686 \n55 76 49 292 \n325 1,483 \n \n2020 689 \n59 77 52 299 \n320 1,496 \n \n Griffin-Spalding County School System General Fund Operating Statistics, Pupil/Teacher Ratio \nLast Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year \n \nExpenses Enrollment \n \n2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \n76,877,306 75,770,980 73,537,657 78,467,423 80,290,395 81,428,072 86,043,775 90,702,181 93,374,983 97,949,010 \n \n10,685 10,614 10,582 10,626 10,474 10,261 10,305 10,383 10,353 10,207 \n \nSource: Griffin-Spalding County School System \n \nCost Per Pupil \n7,195 7,139 6,949 7,384 7,666 7,936 8,350 8,736 9,019 9,596 \n \nPercentage Change \n0.56% (.78%) (2.65%) 6.26% 3.81% 3.52% 5.22% 4.62% 3.25% 6.40% \n \nTeaching Staff \n749 717 673 657 674 658 676 674 686 689 \n \nPupil/ Teacher \nRatio \n14.27 14.80 15.72 16.17 15.54 15.59 15.24 15.41 15.09 14.81 \n \nStudent Attendance Percentage \n96.38 95.39 97.46 95.36 95.64 97.49 96.49 96.13 96.38 95.18 . \n \n-107- \n \n -108- \n \nAnne Street Elementary (1948) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nAtkinson Elementary (1964) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nBeaverbrook Elementary (1964) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCowan Road Elementary (1991) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCrescent Elementary (1955) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System School Building Information Last Ten Fiscal Years \n \nUNAUDITED \n \n2011 \n \n2012 \n \n2013 \n \n2014 \n \nFiscal Year \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n2020 \n \n40,113 450 428 \n95.1% \n \n40,113 450 458 \n101.8% \n \n40,113 450 447 \n99.3% \n \n40,113 450 487 \n108.2% \n \n40,113 450 453 \n100.7% \n \n40,113 450 428 \n95.1% \n \n40,113 450 427 \n94.9% \n \n40,113 450 429 \n95.3% \n \n40,113 450 410 \n91.1% \n \n40,113 450 380 \n84.4% \n \n53,936 450 459 \n102.0% \n \n53,936 450 465 \n103.3% \n \n53,936 450 448 \n99.6% \n \n53,936 450 427 \n94.9% \n \n53,936 450 457 \n101.6% \n \n53,936 450 450 \n100.0% \n \n53,936 450 448 \n99.6% \n \n53,936 450 468 \n104.0% \n \n53,936 450 466 \n103.6% \n \n53,936 450 463 \n102.9% \n \n55,222 450 466 \n103.6% \n \n55,222 450 426 \n94.7% \n \n55,222 450 429 \n95.3% \n \n55,222 450 464 \n103.1% \n \n55,222 450 431 \n95.8% \n \n55,222 450 371 \n82.4% \n \n55,222 450 347 \n77.1% \n \n55,222 450 356 \n79.1% \n \n55,222 450 363 \n80.7% \n \n55,222 450 348 \n77.3% \n \n76,986 650 663 \n102.0% \n \n76,986 650 584 \n89.8% \n \n76,986 650 627 \n96.5% \n \n76,986 650 631 \n97.1% \n \n76,986 650 633 \n97.4% \n \n76,986 650 616 \n94.8% \n \n76,986 650 686 \n105.5% \n \n76,986 650 643 \n98.9% \n \n76,986 650 573 \n88.2% \n \n76,986 650 541 \n83.2% \n \n48,696 450 424 \n94.2% \n \n48,696 450 415 \n92.2% \n \n48,696 450 441 \n98.0% \n \n48,696 450 442 \n98.2% \n \n48,696 450 465 \n103.3% \n \n48,696 450 423 \n94.0% \n \n48,696 450 419 \n93.1% \n \n48,696 450 426 \n94.7% \n \n48,696 450 430 \n95.6% \n \n48,696 450 417 \n92.7% \n \n -109- \n \nFutral Road Elementary (1998) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nJackson Road Elementary (1970) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nJordan Hill Elementary (1994) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nMoore Elementary (1950) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nMoreland Road Elementary (2006) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System School Building Information \nLast Ten Fiscal Years (Continued) \n \n2011 \n \n2012 \n \n2013 \n \n2014 \n \nFiscal Year \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n2020 \n \n67,000 525 695 \n132.4% \n \n67,000 525 725 \n138.1% \n \n67,000 525 635 \n121.0% \n \n67,000 525 644 \n122.7% \n \n67,000 525 648 \n123.4% \n \n78,760 650 616 \n94.8% \n \n78,760 650 628 \n96.6% \n \n78,760 650 629 \n96.8% \n \n78,760 650 659 \n101.4% \n \n78,760 650 684 \n105.2% \n \n58,729 450 474 \n105.3% \n \n58,729 450 464 \n103.1% \n \n58,729 450 456 \n101.3% \n \n58,729 450 467 \n103.8% \n \n58,729 450 438 \n97.3% \n \n66,121 525 423 \n80.6% \n \n66,121 525 408 \n77.7% \n \n66,121 525 415 \n79.0% \n \n66,121 525 422 \n80.4% \n \n66,121 525 410 \n78.1% \n \n76,986 650 446 \n68.6% \n \n76,986 650 442 \n68.0% \n \n76,986 650 455 \n70.0% \n \n76,986 650 470 \n72.3% \n \n76,986 650 481 \n74.0% \n \n76,986 650 487 \n74.9% \n \n76,986 650 453 \n69.7% \n \n76,986 650 426 \n65.5% \n \n76,986 650 447 \n68.8% \n \n76,986 650 406 \n62.5% \n \n47,190 450 363 \n80.7% \n \n47,190 450 354 \n78.7% \n \n47,190 450 375 \n83.3% \n \n47,190 450 367 \n81.6% \n \n47,190 450 367 \n81.6% \n \n47,190 450 367 \n81.6% \n \n47,190 450 405 \n90.0% \n \n47,190 450 398 \n88.4% \n \n47,190 450 392 \n87.1% \n \n47,190 450 392 \n87.1% \n \n67,852 550 558 \n101.5% \n \n67,852 550 558 \n101.5% \n \n67,852 550 560 \n101.8% \n \n67,852 550 541 \n98.4% \n \n67,852 550 515 \n93.6% \n \n67,852 550 546 \n99.3% \n \n67,852 550 556 \n101.1% \n \n67,852 550 556 \n101.1% \n \n67,852 550 523 \n95.1% \n \n67,852 550 535 \n97.3% \n \n -110- \n \nOrrs Elementary (1962) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCowan Road Middle School (2000) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCarver Road Middle School (2007) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nKennedy Road Middle School (2006) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nRehoboth Road Middle School (2009) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System School Building Information \nLast Ten Fiscal Years (Continued) \n \n2011 \n \n2012 \n \n2013 \n \n2014 \n \nFiscal Year \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n2020 \n \n63,117 675 637 \n94.4% \n \n63,117 675 647 \n95.9% \n \n63,117 675 664 \n98.4% \n \n63,117 675 661 \n97.9% \n \n63,117 675 623 \n92.3% \n \n63,117 675 598 \n88.6% \n \n63,117 675 595 \n88.1% \n \n63,117 675 613 \n90.8% \n \n63,117 675 580 \n85.9% \n \n63,117 675 578 \n85.6% \n \n96,500 685 568 \n82.9% \n \n96,500 685 600 \n87.6% \n \n96,500 685 612 \n89.3% \n \n96,500 685 598 \n87.3% \n \n96,500 685 594 \n86.7% \n \n99,529 685 567 \n82.8% \n \n99,529 685 551 \n80.4% \n \n99,529 685 643 \n93.9% \n \n99,529 685 643 \n93.9% \n \n99,529 685 611 \n89.2% \n \n104,024 725 475 \n65.5% \n \n104,024 725 544 \n75.0% \n \n104,024 725 482 \n66.5% \n \n104,024 725 523 \n72.1% \n \n104,024 725 504 \n69.5% \n \n104,024 725 523 \n72.1% \n \n104,024 725 482 \n66.5% \n \n104,024 725 488 \n67.3% \n \n104,024 725 488 \n67.3% \n \n104,024 725 504 \n69.5% \n \n104,024 725 564 \n77.8% \n \n104,024 725 546 \n75.3% \n \n104,024 725 532 \n73.4% \n \n104,024 725 505 \n69.7% \n \n104,024 725 481 \n66.3% \n \n104,024 725 466 \n64.3% \n \n104,024 725 483 \n66.6% \n \n104,024 725 459 \n63.3% \n \n104,024 725 489 \n67.4% \n \n104,024 725 470 \n64.8% \n \n104,024 725 703 \n97.0% \n \n104,024 725 715 \n98.6% \n \n104,024 725 726 \n100.1% \n \n104,024 725 725 \n100.0% \n \n104,024 725 672 \n92.7% \n \n104,024 725 663 \n91.4% \n \n104,024 725 644 \n88.8% \n \n104,024 725 698 \n96.3% \n \n104,024 725 679 \n93.7% \n \n104,024 725 670 \n92.4% \n \n Griffin-Spalding County School System School Building Information \nLast Ten Fiscal Years (Continued) \n \nA.Z. Kelsey Academy (2007) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nGriffin High School (1986) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nSpalding High School (2000) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCentral Administration Complex (1970) Square Feet \nCentral Warehouse (2003) Square Feet \nTransportation Garage/Warehouse (1964) Square Feet \nGriffin Region College and Career Academy (2017) Square Feet \nOther Special Purpose Instructional Facilities Square Feet \n \n2011 \n71,403 625 104 \n16.6% \n309,989 1,950 1,372 70.4% \n205,904 1,600 1,286 80.4% \n11,051 \n47,400 \n11,600 \n80,729 \n \n2012 \n71,403 625 119 \n19.0% \n309,989 1,950 1,304 66.9% \n205,904 1,600 1,248 78.0% \n11,051 \n47,400 \n11,600 \n80,729 \n \n2013 \n71,403 625 90 \n14.4% \n309,989 1,950 1,342 68.8% \n205,904 1,600 1,261 78.8% \n11,051 \n47,400 \n11,600 \n80,729 \n \n2014 \n71,403 625 80 \n12.8% \n309,989 1,950 1,356 69.5% \n205,904 1,600 1,238 77.4% \n11,051 \n47,400 \n11,600 \n80,729 \n \nFiscal Year \n \n2015 \n \n2016 \n \n71,403 625 59 \n9.4% \n \n71,403 625 60 \n9.6% \n \n309,989 1,950 1,419 72.8% \n \n309,989 1,950 1,395 71.5% \n \n205,904 1,600 1,234 77.1% \n \n205,904 1,600 1,262 78.9% \n \n11,051 47,400 11,600 \n \n11,051 47,400 11,600 \n \n80,729 80,729 \n \n2017 \n71,403 625 57 \n9.1% \n309,989 1,950 1,422 72.9% \n205,904 1,600 1,294 80.9% \n11,051 \n47,400 \n11,600 \n80,729 \n \n2018 \n71,403 625 46 \n7.4% \n309,989 1,950 1,434 73.5% \n205,904 1,600 1,324 82.8% \n11,051 \n47,400 \n11,600 \n70,350 \n80,729 \n \n2019 \n71,403 625 36 \n5.8% \n309,989 1,950 1,436 73.6% \n205,904 1,600 1,340 83.8% \n11,051 \n47,400 \n11,600 \n70,350 \n80,729 \n \n2020 \n71,403 625 41 \n6.6% \n309,989 1,950 1,450 74.4% \n205,904 1,600 1,307 81.7% \n11,051 \n47,400 \n11,600 \n70,350 \n80,729 \n \n-111- \n \nSource: Griffin-Spalding County School System \n \n Griffin-Spalding County School System Enrollment Statistics Last Ten Fiscal Years \n \n12000 \n \nActive Enrollment by Grade Level \n \n10000 \n \n8000 \n \n6000 \n \n4000 \n \n2000 \n \n0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 \n \nGrade 12 Grade 11 Grade 10 Grade 9 Grade 8 Grade 7 Grade 6 Grade 5 Grade 4 Grade 3 Grade 2 Grade 1 Kindergarten Pre- Kindergarten 1 \n \nUNAUDITED \n \n-112- \n \nFiscal \n \nPre- \n \nGrade \n \nYear Kindergarten 1 Kindergarten \n \n1 \n \n2011 \n \n443 \n \n2012 \n \n443 \n \n2013 \n \n478 \n \n2014 \n \n495 \n \n2015 \n \n510 \n \n2016 \n \n508 \n \n2017 \n \n513 \n \n2018 \n \n511 \n \n2019 \n \n506 \n \n2020 \n \n503 \n \n920 \n \n894 \n \n865 \n \n911 \n \n894 \n \n851 \n \n898 \n \n889 \n \n822 \n \n880 \n \n777 \n \n818 \n \n827 \n \n809 \n \n759 \n \n852 \n \n778 \n \n787 \n \n747 \n \n762 \n \nGrade 2 \n823 862 870 848 843 849 810 778 832 774 \n \nGrade 3 \n839 810 852 856 820 798 832 820 751 815 \n \nGrade 4 \n834 814 797 837 830 794 806 810 807 760 \n \nGrade 5 \n860 833 795 778 806 781 775 829 804 793 \n \nGrade 6 \n765 839 796 764 709 766 754 745 792 758 \n \nGrade 7 \n783 753 805 796 777 695 719 740 742 769 \n \nGrade 8 \n762 813 751 791 765 758 687 735 742 728 \n \nGrade 9 \n823 911 961 854 1,004 1,016 922 813 899 907 \n \nGrade 10 \n711 630 655 701 615 645 748 734 619 681 \n \nGrade 11 \n656 625 562 619 589 566 600 694 671 596 \n \nGrade 12 \n572 505 515 500 504 490 503 563 623 614 \n \nTotal \n10,685 10,614 10,582 10,626 10,474 10,261 10,305 10,383 10,353 10,207 \n \nSpec. Ed. 2 \n1,052 993 990 969 1,019 1,086 1,132 1,186 1,272 1,272 \n \n1Griffin-Spalding County School System established the Pre-Kindergarten in FY1998 using proceeds from the state lottery. 2 The System includes Special Education students in the appropriate grade level. The \"Spec. Ed\" column reflects the total number of Special Education sutdents by year for comparative purposes only. \nSource: Griffin-Spalding County School System \n \n Griffin-Spalding County School System Expenditures by Function, Last Ten Fiscal Years \nGeneral Fund \n \n-113- \n \nInstruction Pupil Services Improvement of Instructional Services Educational Media Services General and School Administration Business Administration Maintenance and Operations of Plant Student Transportation Services Central Support Services Other Support Services Food Service Operations Community Services Operations Capital Outlay \nDebt Service \n \n2011 \n \n2012 \n \n2013 \n \n2014 \n \nFiscal Year \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n2020 \n \nPercentage Change 1 \n \n$50,219,269 1,323,470 1,719,713 1,845,301 7,555,194 330,052 7,966,957 3,420,009 1,104,120 899,754 0 149,722 129,707 \n214,038 \n \n$49,373,663 1,323,090 1,432,357 1,656,079 7,563,984 335,644 7,726,705 4,092,737 1,139,419 743,246 0 132,624 37,394 \n214,038 \n \n$47,622,661 1,283,338 1,295,508 1,440,932 7,107,099 348,784 7,884,361 4,166,042 1,219,241 888,483 0 126,811 59,560 \n94,837 \n \n$49,529,410 1,522,381 1,333,860 1,483,960 7,367,102 386,548 8,720,795 5,322,915 1,456,213 962,370 69,278 128,120 184,471 \n0 \n \n$50,596,029 1,554,866 2,106,853 1,525,756 7,759,713 384,124 8,124,266 5,275,107 1,593,158 1,079,136 64,269 134,392 92,726 \n0 \n \n$50,941,065 1,658,493 2,469,760 1,528,079 8,460,692 417,103 8,147,720 4,648,579 1,859,430 965,678 61,934 159,403 110,136 \n0 \n \n$54,070,635 1,853,844 3,072,620 1,558,477 9,178,934 433,398 8,114,700 4,834,754 1,771,879 919,821 66,243 145,962 22,509 \n0 \n \n$56,699,614 1,949,092 3,857,445 1,610,344 9,930,839 436,233 8,188,722 4,927,811 1,976,865 842,114 70,697 212,405 0 \n0 \n \n$57,866,372 2,130,706 4,122,176 1,668,656 \n10,379,527 480,116 \n8,474,516 5,302,206 1,727,692 \n941,087 66,707 \n215,222 0 \n0 \n \n$60,455,517 2,406,673 5,137,012 1,759,939 \n10,694,600 452,371 \n9,289,854 4,853,451 1,763,129 \n839,843 66,836 \n229,785 \n \n20.4% 81.8% 198.7% -4.6% 41.6% 37.1% 16.6% 41.9% 59.7% -6.7% 100.0% 53.5% -100.0% \n-100.0% \n \n$76,877,306 $75,770,980 $73,537,657 $78,467,423 $80,290,395 $81,428,072 $86,043,776 $90,702,181 $93,374,983 $97,949,010 \n \n27.4% \n \nInstruction Pupil Services Improvement of Instructional Services Educational Media Services General and School Administration Business Administration Maintenance and Operations of Plant Student Transportation Services Central Support Services Other Support Services Food Service Operations Community Services Operations Capital Outlay Debt Service \n \n2011 \n66.3% 1.7% 2.3% 2.4% \n10.0% 0.4% \n10.5% 4.5% 1.5% 1.2% 0.0% 0.2% 0.2% 0.3% \n101.5% \n \n2012 \n65.2% 1.7% 1.9% 2.2% \n10.0% 0.4% \n10.2% 5.4% 1.5% 1.0% 0.0% 0.2% 0.0% 0.3% \n100.0% \n \n2013 \n64.8% 1.7% 1.8% 2.0% 9.7% 0.5% \n10.7% 5.7% 1.7% 1.2% 0.0% 0.2% 0.1% 0.1% \n100.0% \n \n2014 \n63.1% 1.9% 1.7% 1.9% 9.4% 0.5% \n11.1% 6.8% 1.9% 1.2% 0.1% 0.2% 0.2% 0.0% \n100.0% \n \n2015 \n63.0% 1.9% 2.6% 1.9% 9.7% 0.5% \n10.1% 6.6% 2.0% 1.3% 0.1% 0.2% 0.1% 0.0% \n100.0% \n \n2016 \n62.6% 2.0% 3.0% 1.9% \n10.4% 0.5% \n10.0% 5.7% 2.3% 1.2% 0.1% 0.2% 0.1% 0.0% \n100.0% \n \n2017 \n62.8% 2.2% 3.6% 1.8% \n10.7% 0.5% 9.4% 5.6% 2.1% 1.1% 0.1% 0.2% 0.0% 0.0% \n100.0% \n \n2018 \n62.5% 2.1% 4.3% 1.8% \n10.9% 0.5% 9.0% 5.4% 2.2% 0.9% 0.1% 0.2% 0.0% 0.0% \n100.0% \n \n2019 \n62.0% 2.3% 4.4% 1.8% \n11.1% 0.5% 9.1% 5.7% 1.9% 1.0% 0.1% 0.2% 0.0% 0.0% \n100.0% \n \n2020 \n61.7% 2.5% 5.2% 1.8% \n10.9% 0.5% 9.5% 5.0% 1.8% 0.9% 0.1% 0.2% 0.0% 0.0% \n100.0% \n \n1Percentage change computed by using the following formula: (2020 expenditure/2011 expenditure)-1 = percentage change \n \nSource: Griffin-Spalding County School System \n \n Griffin-Spalding County School System Per Pupil Expenditures by Function, Last Ten Fiscal Years \nGeneral Fund \n \nUNAUDITED \n \nInstruction Pupil Services Improvement of Instructional Services Educational Media Services General and School Administration Business Administration Maintenance and Operations of Plant Student Transportation Services Central Support Services Other Support Services Food Service Operations Community Services Operations Capital Outlay Debt Service \nTotal Expenditures 2 \nStudent Enrollment 3 \n \n2011 \n$4,699 124 161 173 707 31 745 320 103 84 0 14 12 0 \n$7,193 \n10,685 \n \n2012 \n$4,652 125 135 156 713 32 728 386 107 70 0 12 4 20 \n$7,139 \n10,614 \n \n2013 \n$4,500 121 122 136 672 33 745 394 115 84 0 12 6 9 \n$6,949 \n10,582 \n \n2014 \n$4,661 143 126 140 693 36 821 501 137 91 7 12 17 0 \n$7,384 \n10,626 \n \nFiscal Year \n \n2015 \n \n2016 \n \n$4,831 148 201 146 741 37 776 504 152 103 6 13 9 0 \n \n$4,965 162 241 149 825 41 794 453 181 94 6 16 11 0 \n \n$7,666 \n \n$7,936 \n \n10,474 \n \n10,261 \n \n2017 \n$5,248 180 298 151 891 42 788 469 172 89 6 14 2 0 \n$8,351 \n10,305 \n \n2018 \n$5,461 188 372 155 956 42 789 475 190 81 7 20 0 0 \n$8,736 \n10,383 \n \n2019 \n$5,589 206 398 161 \n1,003 46 \n819 512 167 \n91 6 \n21 0 0 \n$9,019 \n10,353 \n \n2020 \n \nPercentage Change 1 \n \n$5,923 236 503 172 \n1,048 44 \n910 476 173 \n82 7 \n23 0 0 \n \n26.1% 90.4% 212.8% -0.1% 48.2% 43.5% 22.1% 48.6% 67.2% -2.3% 100.0% 60.7% -100.0% \n0.0% \n \n$9,596 \n \n33.4% \n \n10,207 \n \n-4.5% \n \n1Percentage change computed by using the following formula: \n(2020 revenue/2011 revenue)-1 = percentage change 2Expenditures restated on a per pupil basis by using the following formula: \nRevenue/current enrollment = per pupil revenue 3Student enrollment figures are taken from fall enrollment (October 1) reports. \n \n-114- \n \n Griffin-Spalding County School System Free and Reduced Lunch Last Ten Fiscal Years \nPercentage of Students Eligible for F\u0026R \n80.080% 705.7.500% 70.070% 605.6.500% 60.060% 505.5.500% 50.050% 405.4.500% 40.040% 305.3.500% 30.030% \n201210112012201220210313 20210414 20210515 20210616 22001177 22001188 22001199 2020 \n \nUNAUDITED \n \nLunch Meals Served Free Reduced Paid \nTotal \nBreakfast Meals Served Free Reduced Paid \nTotal \nAdult \u0026 Non-reimbursable Paid - Breakfast Paid - Lunch Other - Breakfast Other - Lunch \nTotal \nTotal Meals Served Free Reduced Paid Other \nTotal \n \n2011 \n \n2012 \n \n2013 \n \n2014 \n \nFiscal Year \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n2020 \n \n1,046,085 96,503 \n296,584 1,439,172 \n \n1,086,381 110,639 259,927 \n1,456,947 \n \n1,042,616 105,123 216,889 \n1,364,628 \n \n1,046,355 110,333 177,353 \n1,334,041 \n \n1,105,505 99,399 \n165,135 1,370,039 \n \n1,051,121 112,445 162,692 \n1,326,258 \n \n1,011,571 98,288 \n148,076 1,257,935 \n \n977,785 104,952 195,831 1,278,568 \n \n981,943 83,417 \n142,292 1,207,652 \n \n788,444 70,718 96,476 \n955,638 \n \n621,661 42,375 65,660 \n729,696 \n \n651,752 46,295 57,029 \n755,076 \n \n630,562 43,356 49,963 \n723,881 \n \n637,061 46,232 42,031 \n725,324 \n \n650,732 42,903 40,813 \n734,448 \n \n589,747 46,748 40,611 \n677,106 \n \n566,830 40,197 37,281 \n644,308 \n \n562,633 44,536 62,536 \n669,705 \n \n591,568 40,108 41,525 \n673,201 \n \n512,574 34,485 30,627 \n577,686 \n \n5,804 36,228 21,200 49,010 112,242 \n \n7,892 42,557 17,096 41,424 108,969 \n \n2,631 29,805 15,655 35,826 83,917 \n \n1,913 23,767 15,493 35,744 76,917 \n \n1,766 25,273 16,113 38,267 81,419 \n \n1,596 27,493 14,969 35,414 79,472 \n \n3,402 27,775 13,204 30,158 74,539 \n \n2,096 20,957 15,888 32,043 70,984 \n \n2,190 17,493 13,738 28,432 61,853 \n \n1,939 14,348 10,668 20,898 47,853 \n \n1,667,746 138,878 404,276 70,210 \n \n1,738,133 156,934 367,405 58,520 \n \n1,673,178 148,479 299,288 51,481 \n \n1,683,416 156,565 245,064 51,237 \n \n1,756,237 142,302 232,987 54,380 \n \n1,640,868 159,193 232,392 50,383 \n \n1,578,401 138,485 216,534 43,362 \n \n1,540,418 149,488 281,420 47,931 \n \n1,573,511 123,525 203,500 42,170 \n \n1,301,018 105,203 127,103 31,566 \n \n2,281,110 2,320,992 2,172,426 2,136,282 2,185,906 2,082,836 1,976,782 2,019,257 1,942,706 1,564,890 \n \n% Eligible for Free and Reduced \n \n70.73% 73.44% 74.46% 75.58% 76.56% 76.21% 75.34% 76.90% 73.97% 74.32% \n \nSource: Griffin-Spalding County School System \n \n-115- \n \n Griffin-Spalding County School System Insurance Coverage \n \nUNAUDITED \n \nInsurance coverage of the System is summarized below. \n \nType \nProperty Boiler \u0026 Machinery Fidelity Bond Superintendent Bond \n \nAmount in Force \n$350,006,269 25,000,000 100,000 100,000 \n \nType \nGeneral Liability School Board Errors and Omissions Automobile Liability Excess Workers' Compensation \n \nLimits of Liability \n \nEach Occurance \n \nAggregate \n \n$1,000,000 1,000,000 1,000,000 Statutory \n \n$2,000,000 1,000,000 1,000,000 Statutory \n \nNotes: The System is partially self-insured for workers compensation claims through a self-insurance program that is periodically reviewed for actuarial soundess by an actuary. Refer to Note 8 and MD\u0026A of the System's financial statements for a discussion of the System's risk management program. The System requires payment and performance surety bonds and builders' risk insurance of all contractors and subcontractors involved in construction related to the System's facilities. \n \n-116- \n \n SINGLE AUDIT, COMPLIANCE AND INTERNAL CONTROL SECTION \n \n Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards \nThe Board of Education Griffin-Spalding County School System Griffin, Georgia \nWe have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of Griffin-Spalding County School System as of and for the year ended June 30, 2020, and the related notes to the financial statements, which collectively comprise Griffin-Spalding County School System's basic financial statements, and have issued our report thereon dated November 17, 2020. \nInternal Control over Financial Reporting \nIn planning and performing our audit of the financial statements, we considered Griffin-Spalding County School System's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Griffin-Spalding County School System's internal control. Accordingly, we do not express an opinion on the effectiveness of Griffin-Spalding County School System's internal control. \nA deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the government's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. \nOur consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. \n5637 Whitesville Rd. P.O. Box 4299, Columbus, Georgia 31914  Telephone 706-324-5435  Fax 706-324-1209  Email info@robinsongrimes.com Members of: American Institute of CPAs and related Private Companies Practice Section, \nEmployee Benefit Plan Audit Quality and Government Audit Quality Center  Center for Audit Quality  Georgia Society of CPAs  CPAmerica International  www.robinsongrimes.com \n-117- \n \n The Board of Education Griffin-Spalding County School System Page Two \nCompliance and Other Matters As part of obtaining reasonable assurance about whether Griffin-Spalding County School System's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. We noted certain matters that we reported to management of the System in a separate letter dated November 17, 2020. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the government's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. \nCertified Public Accountants November 17, 2020 \n-118- \n \n Independent Auditor's Report on Compliance for Each Major Federal Program and Report on Internal Control over Compliance in Accordance with the Uniform Guidance \nThe Board of Education Griffin-Spalding County School System Griffin, Georgia \nReport on Compliance for Each Major Federal Program \nWe have audited Griffin-Spalding County School System's compliance with the types of compliance requirements described in the U.S. Office of Management and Budget Compliance Supplement that could have a direct and material effect on each of Griffin-Spalding County School System's major federal programs for the year ended June 30, 2020. Griffin-Spalding County School System's major federal programs are identified in the summary of auditor's results section of the accompanying schedule of findings and questioned costs. \nManagement's Responsibility \nManagement is responsible for compliance with the requirements of laws, regulations, contracts, and grants applicable to its federal programs. \nAuditor's Responsibility \nOur responsibility is to express an opinion on compliance for each of Griffin-Spalding County School System's major federal programs based on our audit of the types of compliance requirements referred to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations (\"CFR\") Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (\"Uniform Guidance\"). Those standards and the Uniform Guidance require that we plan and perform the compliance audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about Griffin-Spalding County School System's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. \nWe believe that our audit provides a reasonable basis for our opinion on compliance for each major federal program. However, our audit does not provide a legal determination on Griffin-Spalding County School System's compliance. \n5637 Whitesville Rd. P.O. Box 4299, Columbus, Georgia 31914  Telephone 706-324-5435  Fax 706-324-1209  Email info@robinsongrimes.com Members of: American Institute of CPAs and related Private Companies Practice Section, \nEmployee Benefit Plan Audit Quality and Government Audit Quality Center  Center for Audit Quality  Georgia Society of CPAs  CPAmerica International  www.robinsongrimes.com \n-119- \n \n The Board of Education Griffin-Spalding County School System Page Two \nOpinion on Each Major Federal Program \nIn our opinion, Griffin-Spalding County School System complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2020. \nReport on Internal Control over Compliance \nManagement of Griffin-Spalding County School System is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements referred to above. In planning and performing our audit of compliance, we considered Griffin-Spalding County School System's internal control over compliance with the types of requirements that could have a direct and material effect on each major federal program as a basis for designing auditing procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for each major federal program and to test and report on internal control over compliance in accordance with the Uniform Guidance, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of Griffin-Spalding County School System's internal control over compliance. \nA deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. \nOur consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. \n-120- \n \n The Board of Education Griffin-Spalding County School System Page Three The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other purpose. Certified Public Accountants November 17, 2020 \n-121- \n \n FUNDING AGENCY PROGRAM/GRANT \n \nGRIFFIN-SPALDING COUNTY BOARD OF EDUCATION GRIFFIN, GEORGIA \nSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED JUNE 30, 2020 \nFEDERAL CFDA \nNUMBER \n \nAgriculture, U. S. Department of Child Nutrition Cluster Pass-Through From Georgia Department of Education Cash Assistance Food Services School Breakfast Program School Breakfast Program National School Lunch Program National School Lunch Program After School Snacks Non Cash Assistance U.S. Department of Agriculture (USDA Commodities) \n \n10.553 10.553 10.555 10.555 10.555 \n10.550 \n \n195GA324N1099 205GA324N1099 195GA324N1099 205GA324N1099 205GA324N1099 \n \nTotal Child Nutrition Cluster Other Programs \nPass-Through From Georgia Department of Education Commercial Warehouse Storage and Delivery Cost Reimbursement Equipment Stimulus Grant \n \n10.579 \n \nTotal U.S. Department of Agriculture \n \nEducation, U. S. Department of Title I, Part A Cluster Pass-Through From Georgia Department of Education Grants to Local Educational Agencies Title I-A, Improving the Academic Achievement of the Disadvantaged Title I-A, Improving the Academic Achievement of the Disadvantaged School Improvement School Improvement School Improvement - GSCI \n \n84.010 84.010 84.010 84.010 84.010 \n \nS010A190010 S010A200010 S010A190010 S010A200010 S010A200010 \n \nTotal Title I, Part A Cluster \n \nSpecial Education Cluster Pass-Through From Georgia Department of Education Individuals with Disabilities Education Act Flowthrough Special Projects - Carryover Special Projects High Cost Fund Pool Preschool Regular \nTotal Special Education Cluster \nOther Programs Pass-Through From Georgia Department of Education Career and Technical Education- Basic Grants to States Title II-A, Improving Teacher Quality State Grants Title II-A, Improving Teacher Quality State Grants Title III-A, Limited English Proficient (LEP) Title IV, Student Support and Academic Enrichment Program Title IV, Student Support and Academic Enrichment Program \n \n84.027 84.027 84.027 84.027 84.173 \n \nH027A190073 H027A190073 H027A200073 H027A200073 H173A200081 \n \n84.048 84.367 84.367 84.365 84.42A 84.42A \n \nV048A180010 S367A190001 S367A200001 S365A200010 S424A190011 S424A200011 \n \nTotal U. S. Department of Education \nHealth and Human Services, U. S. Department of Pass-Through From Georgia Department of Education Now is the Time: Project AWARE \n \n93.243 \n \nH79SM091777 \n \nTotal Health and Human Services Defense, U. S. Department of \nDirect Department of the Army R.O.T.C. Program \nTotal Federal Financial Assistance \nSee Independent Auditor's Report and Notes to Schedule of Expenditures of Federal Awards. \n-122- \n \n12.000 \n \nFEDERAL EXPENDITURES \nIN PERIOD \n \n$ \n \n19,048 \n \n1,162,672 \n \n39,910 \n \n2,999,997 \n \n30,888 \n \n175,453 \n \n4,427,968 \n \n6,002 4,433,970 \n \n230,540 3,860,085 \n425,790 711,750 \n71,372 \n5,299,537 \n \n2,209,332 8,858 \n96,568 10,799 70,924 \n2,396,481 \n \n133,840 25,000 \n415,384 35,409 74,821 329,811 \n8,710,283 \n \n156,008 156,008 \n \n299,815 \n \n$ \n \n13,600,076 \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED JUNE 30, 2020 \nNOTE 1: Summary of Significant Accounting Policies Basis of Accounting - The schedule of expenditures of federal awards has been prepared utilizing the modified accrual basis of accounting. Under this method, revenues are recognized when they become 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 be used to pay liabilities for the current period. Expenditures are recognized when the liability is incurred. \n-123- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE YEAR ENDED JUNE 30, 2020 \n \nSUMMARY OF AUDITOR'S RESULTS \n1. An unmodified opinion, dated November 17, 2020, was issued on the financial statements for the year ended June 30, 2020. \n \n2. The \"Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards\" dated November 17, 2020 disclosed no significant deficiencies for the year ended June 30, 2020. \n \n3. The \"Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards\" dated November 17, 2020 disclosed no instances of noncompliance for the year ended June 30, 2020. \n \n4. The \"Independent Auditor's Report on Compliance for Each Major Federal Program and Report on Internal Control over Compliance in Accordance with Uniform Guidance\" dated November 17, 2020, disclosed no significant deficiencies or material weaknesses in internal control over major programs for the year ended June 30, 2020. \n \n5. An unmodified opinion, dated November 17, 2020, was issued on the System's compliance with its major federal programs in the \"Independent Auditor's Report on Compliance for Each Major Federal Program and Report on Internal Control over Compliance in Accordance with Uniform Guidance,\" for the year ended June 30, 2020. \n \n6. No audit findings were disclosed as required under 2 CFR 200.516(a) for the year ended June 30, 2020. \n \n7. The major programs for Griffin-Spalding County School System for the year ended June 30, 2020 were: \n \nTitle I, Part A Cluster Pass-Through from Georgia Department of Education Title I-A, Improving the Academic Achievement of the Disadvantaged School Improvement School Improvement  GSCI \n \nCFDA No. 84.010 CFDA No. 84.010 CFDA No. 84.010 \n \n-124- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE YEAR ENDED JUNE 30, 2020 \n8. The dollar threshold used to distinguish between Type A and Type B threshold programs was $750,000, as described in 2 CFR 200.518. \n9. Under 2 CFR 200.520, Griffin-Spalding County School System did qualify as a lowrisk auditee for the year ended June 30, 2020. \nFINDINGS RELATING TO THE FINANCIAL STATEMENTS The \"Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards\" dated November 17, 2020, disclosed no findings required to be reported in accordance with GAGAS for the year ended June 30, 2020. FINDINGS AND QUESTIONED COSTS FOR MAJOR FEDERAL AWARD PROGRAMS The \"Independent Auditor's Report on Compliance for Each Major Federal Program and Report on Internal Control over Compliance in Accordance with Uniform Guidance\" dated November 17, 2020, disclosed no findings or questioned costs for Federal awards as defined in 2 CFR 200.516(a), for the year ended June 30, 2020. \n-125- \n \n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bg8-b2019-belec-p-btext","title":"Griffin-Spalding County School System comprehensive annual financial report, fiscal year ended 2019 June 30","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body.","Griffin-Spalding County School System (Ga.). Finance Department."],"dcterms_spatial":["United States, Georgia, 32.75042, -83.50018"],"dcterms_creator":["Georgia. Department of Audits and Accounts","Griffin-Spalding County School System. Finance Department"],"dc_date":["2019-10-28"],"dcterms_description":["Financial report of the Griffin-Spalding County Board of Education."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Georgia. Department of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Griffin-Spalding County Board of Education (Ga.)--Appropriations and expenditures--Periodicals","Griffin-Spalding County School System--Appropriations and expenditures--Periodicals","Education--Georgia--Griffin--Auditing--Periodicals","Education--Georgia--Spalding County--Auditing--Periodicals","Education--Georgia--Griffin--Finance--Statistics--Periodicals","Education--Georgia--Spalding County--Finance--Statistics--Periodicals"],"dcterms_title":["Griffin-Spalding County School System comprehensive annual financial report, fiscal year ended 2019 June 30"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bg8-b2019-belec-p-btext"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bg8-b2019-belec-p-btext"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records","audits","financial records","financial statements"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"COMPREHENSIVE ANNUAL FINANCIAL REPORT GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM \nGRIFFIN, GEORGIA FISCAL YEAR ENDED JUNE 30, 2019 \n \n *5,)),163$/',1*\u00262817\u003c 6\u0026+22/6\u003c67(0 \n\u0026RPSUHKHQVLYH$QQXDO )LQDQFLDO5HSRUW \n)LVFDO\u003cHDU(QGHG-XQH \n6RXWK6L[WK6WUHHW *ULIILQ*HRUJLD \n3UHSDUHGE\\ )LQDQFH'HSDUWPHQW *ULIILQ6SDOGLQJ\u0026RXQW\\6FKRRO6\\VWHP \n \n 7$%/(2)\u0026217(176 \n 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\n \n81 82 83 84 85 86 87 88 89 90 91 92 93 94 \n95 \n96 97 98 99 01 102 103 104 \n \n (PSOR\\HHVRIWKH'LVWULFW/DVW7HQ)LVFDO\u003cHDUV *HQHUDO)XQG2SHUDWLQJ6WDWLVWLFV3XSLO7HDFKHU5DWLR/DVW7HQ)LVFDO\u003cHDUV 6FKRRO%XLOGLQJ,QIRUPDWLRQ/DVW7HQ)LVFDO\u003cHDUV (QUROOPHQW6WDWLVWLFV/DVW7HQ)LVFDO\u003cHDUV ([SHQGLWXUHVE\\)XQFWLRQ*HQHUDO)XQG/DVW7HQ)LVFDO\u003cHDUV 3HU3XSLO([SHQGLWXUHVE\\)XQFWLRQ*HQHUDO)XQG/DVW7HQ)LVFDO\u003cHDUV )UHHDQG5HGXFHG/XQFK/DVW7HQ)LVFDO\u003cHDUV ,QVXUDQFH\u0026RYHUDJHRIWKH'LVWULFW \n \n105 6 70 111 112 113 114 115 \n \n6,1*/($8',7\u0026203/,$1\u0026($1',17(51$/\u002621752/6(\u00267,21 \n \n,QGHSHQGHQW$XGLWRUV5HSRUWRQ,QWHUQDO\u0026RQWURORYHU)LQDQFLDO5HSRUWLQJDQGRQ \u0026RPSOLDQFHDQG2WKHU0DWWHUV%DVHGRQDQ$XGLWRI)LQDQFLDO6WDWHPHQWV 3HUIRUPHGLQ$FFRUGDQFHZLWK*RYHUQPHQW$XGLWLQJ6WDQGDUGV 116117 ,QGHSHQGHQW$XGLWRUV5HSRUWRQ\u0026RPSOLDQFHIRU(DFK0DMRU3URJUDPDQG 5HSRUWRQ,QWHUQDO\u0026RQWURORYHU\u0026RPSOLDQFHLQ$FFRUGDQFHZLWK 8QLIRUP*XLGDQFH 118 120 6FKHGXOHRI([SHQGLWXUHVRI)HGHUDO$ZDUGV121 1RWHVWR6FKHGXOHRI([SHQGLWXUHVRI)HGHUDO$ZDUGV122 6FKHGXOHRI)LQGLQJVDQG4XHVWLRQHG\u0026RVWV 123124 \n \n BOARD MEMBERS R. Syntel Brown Barbara Jo Cook Will Doss Zachery Holmes Sue McDonald \nJames D. Smith, Superintendent \n \n216 South Sixth Street P. O. Drawer N \nGriffin, Georgia 30224 Phone: (770) 229-3700 \nFax: (770) 229-3708 www.spalding.k12.ga.us \nAccredited by SACS and GAC \n \nOctober 28, 2019 \nTo the Honorable Members of the Griffin-Spalding County Board of Education and Citizens of Spalding County \nThe Comprehensive Annual Financial Report of the Griffin-Spalding County School System (System) for the fiscal year ended June 30, 2019, is herewith submitted. The report was prepared by the Finance Department of the Griffin-Spalding County School System. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with management. \nThis report consists of management's representations concerning the finances of the System. To provide a reasonable basis for making these representations, management of the System has established a comprehensive internal control framework that is designed to protect the assets from loss, theft, or misuse and to compile sufficient reliable information for the preparation of the financial statements in conformity with generally accepted accounting principles (GAAP). Because the cost of internal controls should not outweigh their benefits, the System's comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatement. As management, we assert that, to the best of our knowledge and belief, this report is complete and reliable in all material respects. \nDesigned to meet the needs of a broad spectrum of readers of financial statements, this comprehensive annual financial report (CAFR) is divided into four major sections: \n Introductory section  introduces the reader to the report and includes this transmittal letter, organizational chart of the System, and the list of elected and appointed officials. \n Financial section  consists of the independent auditor's report, management's discussion and analysis, the basic financial statements, and combining and fund statements and schedules. \n Statistical section  contains substantial financial information, but presents tables that differ from financial statements in that they present non-accounting data, cover several years, and are designed to reflect social and economic data and financial and fiscal trends as well as the fiscal capacity of the System. \n-i- \n \n  Single Audit section  contains auditor's reports on the internal control structure and compliance with applicable laws and regulations, schedule of expenditures of federal awards, and findings and questioned costs as required by the provisions of the Single Audit Act Amendments of 1996 and U.S. Office of Management and Budget Circular A-133, \"Audits of State, Local Governments, and Nonprofit Organizations\". \nIndependent Audit \nIn accordance with state law, an annual audit of the financial records, books of account, and financial affairs of the System has been made by an independent auditor. The goal of the independent audit was to provide reasonable assurance that the financial statements of the System for the year ended June 30, 2019, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. The auditor's opinion, as prepared by Robinson, Grimes and Company, P.C., is included within the financial section of this report. \nThe independent audit of the financial statements of the System is part of a broader, federally mandated \"Single Audit\" process designed to meet the needs of federal grantor agencies. The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the audited government's internal controls and compliance with legal requirements, with special emphasis on internal controls and legal requirements involving the administration of federal awards. These reports are included in the Single Audit section of this report. \nManagement's Discussion and Analysis \nGAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial reports in the form of a management's discussion and analysis (MD\u0026A). This letter of transmittal is designed to complement the MD\u0026A and should be read in conjunction with it. The System's MD\u0026A can be found immediately following the report of the independent auditors. \nSystem Profile \nThe System was created pursuant to an amendment to the Constitution of the State of Georgia ratified in November 1952 and acts of the General Assembly of the State of Georgia. The System resulted from the consolidation of separate city and county school districts within the borders of Spalding County, Georgia. The System is a legally separate entity enjoying all rights and privileges accorded political subdivisions of the State of Georgia. The System is fiscally independent. Policymaking and legislative \n-ii- \n \n authority are vested in the Board of Education consisting of five members, each elected from single member districts. Board members, elected on a non-partisan basis, serve four-year staggered terms with no more than three board members elected every two years. The Board of Education is responsible for, among other things, developing policy, adopting the budget, levying taxes, incurring bonded debt with voter approval, and hiring all System employees. \nThe primary purpose of the System is to provide public education for those who reside within the boundaries of Spalding County, Georgia. The philosophy of the System is that all students can and will learn in a safe and appropriate environment that supports the physical, emotional, mental and learning abilities of students. The vision of the school system is \"to be an agent of change, transforming our students into future-ready learners and contributing members of society.\" The mission of the school system is \"to empower students to graduate college and career ready.\" The vision and mission guided the development of a five year strategic plan. The strategic plan informs the development of a budget for the efficient use of resources to go towards expected outcomes. \nDuring the 2018-19 school year, the System serviced eleven elementary schools (prekindergarten through grade five), four middle schools (grades six through eight), and three high schools (grades nine through twelve). The third high school, A.Z. Kelsey Academy, opened in August 2007, as an alternative setting for students in need of additional academic emphasis and greater organizational structure. \nThe System also operates a Program Challenge center, the Griffin Region College and Career Academy, and an alternative program. The Program Challenge center is for elementary school students qualifying for services under the gifted education program. These students experience a unique setting focused on gifted level activities. The Griffin Region College and Career Academy (GRCCA) opened for the first time during the 2016-17 school year. This program services three public school systems by providing career-related (vocational) and dual enrollment opportunities. GRCCA focuses on preparing students to fill local business and industry employment needs. The alternative program is for middle and high school students with disciplinary issues. \nThe System served 10,353 students as of the student enrollment count taken in October 2018, a decrease of 30 from the prior year. Total enrollment includes 506 students served in the pre-kindergarten program funded through proceeds of the State of Georgia's lottery for education program. System enrollment has experienced little movement over the past several years. Current trends suggest that enrollment will remain constant for the foreseeable future in line with the slow, but steady, growth in county population. \nSystem of Internal Controls \nManagement of the System is responsible for establishing and maintaining internal controls designed to ensure that the assets of the District are protected from loss, theft or misuse and to ensure that adequate accounting records are maintained to allow for the preparation of financial statements in conformity with generally accepted accounting \n-iii- \n \n principles. Internal controls over major business functions are subject to periodic evaluation by management. Included therein are controls over data processing functions as well as the security of backup information in the event of catastrophic damage or loss to the primary records. Financial policies adopted by the Board of Education are a primary component of the internal control system and are subject to annual review in light of current conditions. \nBudgetary Control \nThe System adopts an annual budget for its funds. This budget acts as the financial operating plan for the entire year. Revisions may be implemented during the year authorizing a larger appropriation of available resources with approval from the Board of Education. All annual appropriations lapse at year-end with the exception of those indicated as assignment of fund balance. \nThe development of the budget is a year-long process tied to the System's strategic plan. Staffing allocations are determined by a formula that takes into account maximum class sizes and equity components (e.g. economically disadvantaged, gifted). Goals and expected outcomes are established for various levels of investment and resource allocations are made based on estimates of the revenue available. \nThe System Superintendent submits an annual budget to the Board of Education in May prior to the commencement of the new fiscal year on July 1. The budget includes proposed expenditures as well as the means of financing them. Public hearings are held on the budget after which the Board of Education adopts a budget for the year by resolution. In addition, under provisions of state law, public hearings must be held if the proposed property tax millage rate exceeds the rate of the prior year, or if the rate is not rolled back sufficiently to fully offset the effects of revaluation increases on the taxable value of property in the County. \nBudgetary control is maintained at the aggregate level for each budgeted fund. For fiscal year 2019, budgets were adopted for the general fund, special revenue fund, school nutrition fund, debt service fund, and capital projects fund. \nMajor Initiatives \nThe Board of Education adopted a five year strategic plan in 2015 to guide our instructional program. The plan will guide school system operations over a five year window (2016-2021). Four primary strategic directions form the framework of the strategic plan. \n Student Performance o To increase graduation rates o To provide appropriate student support o To ensure mastery of the curriculum \n Family and Community Engagement \n-iv- \n \n o To increase consistent family engagement o To increase business and community support o To increase community awareness of district improvement initiatives  Organizational Effectiveness o To ensure fiscal responsibility and accountability o To maintain a safe and inviting school environment o To provide effective and reliable operational processes  High Performing Staff o To provide relevant professional development o To evaluate staff effectively o To recruit and retain high performing staff \nSeveral instructional initiatives have been implemented to support these goals. Examples include the following programs. \n Infinite Campus  student information system  Mastery Connect  data analysis software  Measures of Academic Progress (MAP)  student performance software  Read 180 and Math 180 for remediation  Instructional coaches for professional development  Credit recovery and summer enrichment program  Audio Enhancement program for recorded instruction, professional development \nand safety  Rigorous Curriculum Design (RCD)  curriculum guides for all grade levels in \nEnglish/Language Arts, Math and Science  Special Entities \no Program Challenge Elementary Gifted Center o Elementary Science Enrichment Center o A. Z. Kelsey Academy o Griffin Region College and Career Academy o Partnership with Southern Crescent Technical College o Partnership with University of Georgia  Griffin campus o Partnership with Georgia Institute of Technology o Elementary After School Program  Parent/Community Involvement o PTA/PTO o School Councils o Griffin-Spalding Partners in Education, Inc. o Archway Initiative \nEconomic Condition and Outlook \nSpalding County, Georgia, has experienced modest economic growth over the past several years with a varied manufacturing and industrial base adding to the relative stability of the area. The county government completed the development of infrastructure for an eco-friendly, industrial park. New industrial companies continue to \n-v- \n \n locate into the park. Since inception, five Japanese companies have announced selection of the park, with four completing construction. A Dollar General distribution center has completed construction on the border of Spalding County and Butts County. These companies have improved the industrial base within the county and are providing stability and potential for moderate growth in the tax digest. The announcement of additional companies are anticipated in the near future. Negotiations aimed at securing the new industries to Spalding County included abatements of school property taxes on real property at declining percentages for up to five years. Spalding County is currently considering the acquisition of new land for the next phase of an additional industrial park. In addition, a new airport inside Spalding County, one large enough to accommodate approximately 95% of the current commercial fleet, is progressing with the acquisition of property and is slated to open in 2022. \nThe average annual unemployment rate in Spalding County dropped to 4.7% for calendar year 2018 from 5.8% the prior year. Southern Crescent Technical College and the University of Georgia  Griffin Campus have both experienced enrollment increases along with physical plant expansions designed to improve the level of preparedness of the available workforce. These expansions included a Film Institute, a Food Product Innovation Center and a Turf Grass facility. \nCountywide population changes mirror those experienced within the school system. Total population in Spalding County is estimated to have remained virtually unchanged over the past twelve months. For several years, the only significant residential development showing signs of construction activity has been designated as an \"active adult community\" with no school-age children to impact local enrollment. The county is seeing the construction of a new apartment complex that could impact enrollment. Building permits for new housing are increasing, but at a slow pace. SPLOST collections continue to remain strong, which has been a positive sign for the overall health of the local economy. \nLong-term Financial Planning \nSince 1997, SPLOST has been the primary funding vehicle available to school districts for the construction and renovation of school facilities and technology enhancement. Currently, school facilities have an average age of thirty-eight years. However, this includes buildings placed into service within the past five years as well as others that are over eighty years old. Despite the average age of facilities, SPLOST has allowed all schools to be renovated on a regular cycle. Spalding County voters approved an extension of SPLOST for a five year period ending June 30, 2020, and the issuance of bonds, covering a project list which included facility expansion and renovation along with the purchase of new technology for classroom use. Bonds were used for the construction of the Griffin Region College and Career Academy, technology infrastructure, and bus purchases. Work continued in fiscal year 2019 on renovations from SPLOST V. During FY20, the System will be preparing for the next SPLOST window (SPLOST VI). \n-vi- \n \n The System monitors budget related activity in the Georgia General Assembly. With the improving Georgia economy, funding for the System has also improved. Cuts to the state funding formula (amended formula adjustments) have been eliminated. The System has experienced increases to required expenditures such as classified employee health insurance rates for employers, teacher pay raises, and contributions to the Teachers Retirement System of Georgia. The System is focusing investments in the educational program based on the recommendations of a curriculum audit and the implementation of the strategic plan. This process requires the review and evaluation of operations to improve efficiency, including personnel allocations, employee benefits, software usage, specialized instructional programs, student transportation services, and technology infrastructure. Sustainability is a critical piece of budget planning. Budget items proposed for inclusion or modification are viewed in terms of the system's ability to sustain the item into the future. Adequate, available fund reserves are key to preserving the school system's ability to operate free of short-term borrowing to fund daily operations. As of June 30, 2019, fund balance for the System is 67 days of projected FY20 operations. Fund balance has steadily increased over the past five years and placed the System in a position of financial stability. \nRelevant Financial Policies \nDuring fiscal year 2019, financial policies related to purchasing and procurement continued to be important, particularly with the increase in federal funds coming to the school system. In particular, the establishment of procedures surrounding the purchase of computer hardware and software while maintaining compliance with applicable federal grant guidelines was significant. In addition, an annual review is conducted of all financial policies to determine the need for any additions or changes. \nAwards \nThe Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the System for its Comprehensive Annual Financial Report for the year ended June 30, 2018. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports. \nIn order to be awarded a Certificate of Achievement for Excellence, a governmental unit must publish an easily readable and efficiently organized comprehensive annual financial report whose contents conform to program standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements. \nA Certificate of Achievement is valid for a period of one year. This is the fourteenth consecutive year that the System has received this prestigious award. We believe our current report continues to conform to the Certificate of Achievement program requirements, and we will be submitting it to GFOA to determine its eligibility for another certificate. \n-vii- \n \n -viii- \n \n -L[ \n \n The Certificate of Excellence in Financial Reporting is presented to \nGriffin-Spalding County School System \nfor its Comprehensive Annual Financial Report (CAFR) for the Fiscal Year Ended June 30, 2018. \nThe CAFR meets the criteria established for ASBO International's Certificate of Excellence. \n \nTom Wohlleber, CSRM President \n \nSiobhn McMahon, CAE Chief Operating Officer \n \n-x- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM BOARD OF EDUCATION \nFUNCTION AND COMPOSITION \n \nThe Griffin-Spalding County Board of Education governs all matters relating to education and operations in the Griffin-Spalding County School System, as provided by Georgia law. \n \nThe Board is responsible, through its oversight function, for maintaining a reasonable and uniform system of public schools serving students in grades pre-kindergarten through 12. With the advice of the Superintendent, the Board determines policies and prescribes rules and regulations for the management of the school system. This includes, but is not limited to, adopting system wide goals and objectives, developing a financial budget for the school year, and receiving regular reports on the progress of serving students and families through out the year. \n \nThe Board currently consists of five members elected from single member districts. The Board has independent taxing authority for the purpose of funding public education inside Spalding County, Georgia. \n \nRegular meetings of the Board of Education are held on the first Tuesday of each month beginning at 6:00 p.m. and workshops are held on the third Tuesday of each month at 4:00 p.m. in the Board meeting room of the main administration building located at 216 South Sixth Street, Griffin, Georgia. Special meetings may be called at other times by the Board Chairperson. At all meetings, a majority of the entire membership constitutes a quorum. All meetings are open to the public. \n \nThe Board elects a Chairperson and Vice-Chairperson annually from its members. \n \nAs of June 30, 2019, the members of the Board of Education and dates of expiration of their terms are as follows: \n \nTerm Name__________________________Title_______________Expiration \n \nMr. Willliam B. Doss Mr. Zachery B. Holmes Mr. Syntel Brown Mrs. Barbara Jo Cook Ms. Sue McDonald \n \nChairperson Vice-Chairperson Member Member Member \n \n12/31/20 12/31/22 12/31/22 12/31/20 12/31/22 \n \n-xL- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM ADMINISTRATIVE STAFF As of June 30, 2019 \n \nEXECUTIVE ADMINISTRATION James D. Smith Dr. Kiawana Kennedy Joanie Mullins \n \nSuperintendent of Schools Deputy Superintendent Administrative Assistant to Superintendent \n \nDIVISION OF INSTRUCTIONAL SERVICES \n \nSara Jones \n \nExecutive Director of Instruction \n \nAshley Crawford \n \nDirector of K-12 Curriculum \n \nMichele Purvis \n \nDirector of School Improvement \n \nMelvina Crawl \n \nDirector of Professional Development \n \nShelia Mincey \n \nDirector Program Evaluation and \n \nAssessment/Special Education \n \nAshley McLemore \n \nDirector of Federal Programs \n \nDIVISION OF ADMINISTRATIVE SERVICES \n \nAnthony Aikens \n \nExecutive Director of Administrative Services \n \nBruce Ballard \n \nDirector of Facilities and Construction \n \nTodd Harris \n \nDirector of Pupil Transportation \n \nTiffany Lawrence \n \nDirector of Nutrition Services \n \nBonita Fluker \n \nDirector of Student Services \n \nLonny Harper \n \nDirector of Instructional Technology \n \nJosh Griffis \n \nDirector of Administrative Technology \n \nDIVISION OF ELEMENTARY EDUCATION \n \nDr. Norman Sauce \n \nExecutive Director of Elementary Education \n \nDr. Chris Bearden \n \nDirector of Pre-Kindergarten/ELL \n \nDIVISION OF ELEMENTARY EDUCATION \n \nDr. Donald Warren \n \nExecutive Director of Secondary Education \n \nLaura Ergle \n \nDirector of GRCCA and CTAE \n \nFINANCE Ryan McLemore \n \nChief Financial Officer \n \nHUMAN RESOURCES Stephanie Dobbins Edna Aikens \n \nExecutive Director of Human Resources Assistant Director of Human Resources \n \nSCHOOL AND COMMUNITY SERVICES \n \nKimberly Willis-Green \n \nExecutive Director of Communications and \n \nPartnerships \n \n-xLL- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM ADMINISTRATIVE STAFF (continued) As of June 30, 2019 \n \nSCHOOL PRINCIPALS Pearla Hodo Tiffany Campbell Dr. Renee Mallard Hoby Davenport Natalie Wood Ben Steele Julie Robinson Dottie English Gloria Brown Stan Mangham Larry Jones Tiffany Taylor Derrick Dalton Gregory Gardner Laura Jordan Darrell Evans Lindy Pruitt Stephanie Evans \n \nAnne Street Elementary School Atkinson Elementary School Beaverbrook Elementary School Cowan Road Elementary School Crescent Road Elementary School Futral Road Elementary School Jackson Road Elementary School Jordan Hill Road Elementary School Moore Elementary School Moreland Road Elementary School Orrs Elementary School Carver Road Middle School Cowan Road Middle School Kennedy Road Middle School Rehoboth Road Middle School Griffin High School Spalding High School A.Z. Kelsey Academy \n \nLEGAL COUNSEL Timothy N. Shepherd, P.C. \nINDEPENDENT AUDITORS Robinson, Grimes \u0026 Company, P.C. \n \nGriffin, Georgia Columbus, Georgia \n \n-xiLL- \n \n -xiv- \n \n ,QGHSHQGHQW$XGLWRUV5HSRUW \n7KH%RDUGRI(GXFDWLRQ *ULIILQ6SDOGLQJ\u0026RXQW\\6FKRRO6\\VWHP *ULIILQ*HRUJLD \n5HSRUWRQWKH)LQDQFLDO6WDWHPHQWV \n:HKDYHDXGLWHGWKHDFFRPSDQ\\LQJILQDQFLDOVWDWHPHQWVRIWKHJRYHUQPHQWDODFWLYLWLHVHDFKPDMRU IXQGDQGWKHDJJUHJDWHUHPDLQLQJIXQGLQIRUPDWLRQRI*ULIILQ6SDOGLQJ\u0026RXQW\\6FKRRO6\\VWHPDVRI DQGIRUWKH\\HDUHQGHG-XQHDQGWKHUHODWHGQRWHVWRWKHILQDQFLDOVWDWHPHQWVZKLFK FROOHFWLYHO\\FRPSULVH*ULIILQ6SDOGLQJ\u0026RXQW\\6FKRRO6\\VWHPVEDVLFILQDQFLDOVWDWHPHQWVDVOLVWHGLQ WKHWDEOHRIFRQWHQWV \n0DQDJHPHQWV5HVSRQVLELOLW\\IRUWKH)LQDQFLDO6WDWHPHQWV \n0DQDJHPHQWLVUHVSRQVLEOHIRUWKHSUHSDUDWLRQDQGIDLUSUHVHQWDWLRQRIWKHVHILQDQFLDOVWDWHPHQWVLQ DFFRUGDQFHZLWKDFFRXQWLQJSULQFLSOHVJHQHUDOO\\DFFHSWHGLQWKH8QLWHG6WDWHVRI$PHULFDWKLV LQFOXGHVWKHGHVLJQLPSOHPHQWDWLRQDQGPDLQWHQDQFHRILQWHUQDOFRQWUROUHOHYDQWWRWKHSUHSDUDWLRQ DQGIDLUSUHVHQWDWLRQRIILQDQFLDOVWDWHPHQWVWKDWDUHIUHHIURPPDWHULDOPLVVWDWHPHQWZKHWKHUGXHWR IUDXGRUHUURU \n$XGLWRUV5HVSRQVLELOLW\\ \n2XUUHVSRQVLELOLW\\LVWRH[SUHVVRSLQLRQVRQWKHVHILQDQFLDOVWDWHPHQWVEDVHGRQRXUDXGLW:H FRQGXFWHGRXUDXGLWLQDFFRUGDQFHZLWKDXGLWLQJVWDQGDUGVJHQHUDOO\\DFFHSWHGLQWKH8QLWHG6WDWHVRI $PHULFDDQGWKHVWDQGDUGVDSSOLFDEOHWRILQDQFLDODXGLWVFRQWDLQHGLQ*RYHUQPHQW$XGLWLQJ6WDQGDUGV LVVXHGE\\WKH\u0026RPSWUROOHU*HQHUDORIWKH8QLWHG6WDWHV7KRVHVWDQGDUGVUHTXLUHWKDWZHSODQDQG SHUIRUPWKHDXGLWWRREWDLQUHDVRQDEOHDVVXUDQFHDERXWZKHWKHUWKHILQDQFLDOVWDWHPHQWVDUHIUHHIURP PDWHULDOPLVVWDWHPHQW \n$QDXGLWLQYROYHVSHUIRUPLQJSURFHGXUHVWRREWDLQDXGLWHYLGHQFHDERXWWKHDPRXQWVDQGGLVFORVXUHVLQ WKHILQDQFLDOVWDWHPHQWV7KHSURFHGXUHVVHOHFWHGGHSHQGRQWKHDXGLWRUVMXGJPHQWLQFOXGLQJWKH DVVHVVPHQWRIWKHULVNVRIPDWHULDOPLVVWDWHPHQWRIWKHILQDQFLDOVWDWHPHQWVZKHWKHUGXHWRIUDXGRU HUURU,QPDNLQJWKRVHULVNDVVHVVPHQWVWKHDXGLWRUFRQVLGHUVLQWHUQDOFRQWUROUHOHYDQWWRWKH JRYHUQPHQWVSUHSDUDWLRQDQGIDLUSUHVHQWDWLRQRIWKHILQDQFLDOVWDWHPHQWVLQRUGHUWRGHVLJQDXGLW SURFHGXUHVWKDWDUHDSSURSULDWHLQWKHFLUFXPVWDQFHVEXWQRWIRUWKHSXUSRVHRIH[SUHVVLQJDQRSLQLRQ RQWKHHIIHFWLYHQHVVRIWKHJRYHUQPHQWVLQWHUQDOFRQWURO$FFRUGLQJO\\ZHH[SUHVVQRVXFKRSLQLRQ $QDXGLWDOVRLQFOXGHVHYDOXDWLQJWKHDSSURSULDWHQHVVRIDFFRXQWLQJSROLFLHVXVHGDQGWKH UHDVRQDEOHQHVVRIVLJQLILFDQWDFFRXQWLQJHVWLPDWHVPDGHE\\PDQDJHPHQWDVZHOODVHYDOXDWLQJWKH RYHUDOOSUHVHQWDWLRQRIWKHILQDQFLDOVWDWHPHQWV \n5637 Whitesville Rd. P.O. Box 4299, Columbus, Georgia 31914  Telephone 706-324-5435  Fax 706-324-1209  Email info@robinsongrimes.com Members of: American Institute of CPAs and related Private Companies Practice Section, \nEmployee Benefit Plan Audit Quality and Government Audit Quality Center  Center for Audit Quality  Georgia Society of CPAs  CPAmerica International \n-1-  www.robinsongrimes.com \n \n 7KH%RDUGRI(GXFDWLRQ *ULIILQ6SDOGLQJ\u0026RXQW\\6FKRRO6\\VWHP 3DJH7ZR \n:HEHOLHYHWKDWWKHDXGLWHYLGHQFHZHKDYHREWDLQHGLVVXIILFLHQWDQGDSSURSULDWHWRSURYLGHDEDVLVIRU RXUDXGLWRSLQLRQV \n2SLQLRQV \n,QRXURSLQLRQWKHILQDQFLDOVWDWHPHQWVUHIHUUHGWRDERYHSUHVHQWIDLUO\\LQDOOPDWHULDOUHVSHFWVWKH UHVSHFWLYHILQDQFLDOSRVLWLRQRIWKHJRYHUQPHQWDODFWLYLWLHVHDFKPDMRUIXQGDQGWKHDJJUHJDWH UHPDLQLQJIXQGLQIRUPDWLRQRI*ULIILQ6SDOGLQJ\u0026RXQW\\6FKRRO6\\VWHPDVRI-XQHDQGWKH UHVSHFWLYHFKDQJHVLQILQDQFLDOSRVLWLRQWKHUHRIDQGWKHUHVSHFWLYHEXGJHWDU\\FRPSDULVRQIRUWKH *HQHUDO)XQGIRUWKH\\HDUWKHQHQGHGLQDFFRUGDQFHZLWKDFFRXQWLQJSULQFLSOHVJHQHUDOO\\DFFHSWHGLQ 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DSSOLHGLQWKHDXGLWRIWKHILQDQFLDOVWDWHPHQWVDQGDFFRUGLQJO\\ZHGRQRWH[SUHVVDQRSLQLRQRU SURYLGHDQ\\DVVXUDQFHRQWKHP \n2WKHU5HSRUWLQJ5HTXLUHGE\\*RYHUQPHQW$XGLWLQJ6WDQGDUGV \n,QDFFRUGDQFHZLWK*RYHUQPHQW$XGLWLQJ6WDQGDUGVZHKDYHDOVRLVVXHGRXUUHSRUWGDWHG2FWREHU RQRXUFRQVLGHUDWLRQRI*ULIILQ6SDOGLQJ\u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u0026RXQW\\6FKRRO6\\VWHPVLQWHUQDOFRQWURORYHU ILQDQFLDOUHSRUWLQJDQGFRPSOLDQFH \n\u0026HUWLILHG3XEOLF$FFRXQWDQWV \n\u0026ROXPEXV*HRUJLD \n2FWREHU \n-3- \n \n Griffin-Spalding County School System Management's Discussion and Analysis \nFor the Year Ended June 30, 2019 \nThe discussion and analysis of Griffin-Spalding County School System's (herein referred to as the \"System\") financial performance provides an overall review of the System's financial activities for the fiscal year ended June 30, 2019. The intent of this discussion and analysis is to look at the System's financial performance as a whole. Readers should also review the financial statements and notes to the financial statements to enhance their understanding of the System's financial performance. \nFinancial Highlights \n The assets of the System exceeded its liabilities at June 30, 2019, by $41,891,813. \n Net position increased by a total of $9,680,357 from the beginning of the year. The increase is attributable to Special Purpose Local Option Sales Tax (SPLOST) revenue which financed investments made in capital assets during the year and a decrease in Other Post-employment Benefits (OPEB) expense. \n The System-wide Statement of Net Position includes the employer's proportionate share of pension liabilities in accordance with GASB 68 and the net Other Post-employment Benefits (OPEB) liability in accordance with GASB 75. Net pension liability as of June 30, 2019, was $90,835,778. Net OPEB liability as of June 30, 2019, was $80,605,763. \n At June 30, 2019, the System's General Fund reported a fund balance of $18,056,230, an increase of $648,254 from the prior fiscal year. Of this total, $559,064 has been committed to the risk management function in compliance with GASB 54. Unassigned fund balance totaled $17,497,166. \n SPLOST collections in fiscal year 2019 increased 7.45% as compared to collections in fiscal year 2018. \n The System's current general obligation bond indebtedness, net of related premiums, is $12,022,577. Principal and interest debt service payments were made in FY19 in the amount of $1,770,000 and $591,501, respectively. \nOverview of the Financial Statements \nThis discussion and analysis is intended to serve as an introduction to the System's basic financial statements. The basic financial statements comprise three components: 1) System-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. \n-4- \n \n System-wide Financial Statements \nThe System-wide financial statements are designed to provide readers with a broad overview of the System's finances in a manner similar to a private-sector business. \nThe Statement of Net Position presents information on all of the System's assets and liabilities with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the System is improving or deteriorating. It is important to note that this statement consolidates the System's current financial resources (short-term) with capital assets and long-term liabilities. \nThe Statement of Activities presents information showing how the System's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will result in cash flows in future fiscal periods (e.g. uncollected taxes, etc.) \nFund Financial Statements \nA fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The System, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the System can be divided into two categories: governmental funds and fiduciary funds. \nGovernmental Funds \nMost of the System's activities are reported in governmental funds focusing on how money flows in and out of those funds and the balances left at year-end available for spending in future periods. The governmental fund statements provide a detailed shortterm view of the System's general government operations and the basic services it provides. Governmental fund information helps determine whether there are more or less financial resources that can be spent in the near future to finance educational programs. \nFiduciary Funds \nThe System is the trustee, or fiduciary, for assets that belong to others such as club and class funds and payroll withholding funds. The System is responsible for ensuring assets reported in these funds are used only for their intended purposes and by those to whom the assets belong. \n-5- \n \n Notes to Financial Statements \nThe notes provide additional information that is essential to a full understanding of the data provided in the system-wide and fund financial statements. \nSystem-wide Financial Analysis \nAs noted earlier, net position may serve over time as a useful indicator of a government's financial position. As of June 30, 2019, System assets exceeded liabilities by $41,891,813. \nAssets By far, the largest portion the System's total assets (72.36 percent) reflects its investment in capital assets (e.g. buildings, land, machinery and equipment, construction in progress) net of depreciation related to those assets. The System uses the capital assets to provide services to our students, faculty, and community; consequently, these assets are not available for future spending. Capital asset increases are directly related to the continued investment of Special Purpose Local Option Sales Tax (SPLOST) revenues into renovation work, buses, and instructional technology. Current and other assets held relatively steady compared to the prior year. Cash and cash equivalents and property taxes receivable were slightly higher than FY18. \nDeferred outflows and inflows of resources Deferred outflows of resources represents a consumption of resources that applies to a future period and therefore will not be recognized as an outflow of resources until then. Deferred inflows of resources represents an acquisition of resources that applies to a future period and therefore will not be recognized as an inflow of resources until that time. These two financial statement elements represent the System's contributions to the pension plans and other post-employment benefits as well as the changes in assumptions and actuarial values of those plans. Deferred outflow of resources increased $5,692,497 and deferred inflow of resources increased $11,321,261 based on the changes in the contributions and actuarial values. Note 11, Retirement Plans, and Note 12, Other PostEmployment Benefits (OPEB) provide details for the calculation of these amounts. \nLiabilities Liabilities included significant changes in three areas: bonds payable, proportionate share of net pension liability and proportionate share of net OPEB liability. Bonds payable decreased due to the payment of $1,770,000 in principal during FY19. Proportionate share of net pension liability and net OPEB liability represent the System's share of state pension plans (e.g. TRS, ERS, PSERS) and health insurance (State Health) for retirees. These liabilities are based on actuarial values provided by the respective pension plans and State Health Benefit Plan. Note 11, Retirement Plans, and Note 12, Other Post-Employment Benefits (OPEB) provide details for the calculation of these amounts. \n-6- \n \n The following chart details the major categories of assets, liabilities, and net position with a comparison to the prior fiscal year. \n \nGriffin-Spalding County School System Net Position  as of June 30, 2019 and 2018 \n \nGovernmental Activities \n \nFY 2019 \n \nFY 2018 \n \nCurrent and other assets Capital Assets \nTotal assets \n \n$ \n \n65,514,579 \n \n171,530,339 \n \n237,044,918 \n \n$ 65,218,471 168,399,995 233,618,466 \n \nDeferred Outflows of Resources \n \n23,548,729 \n \n17,856,232 \n \nCurrent and other liabilities Long-term liabilities \nTotal liabilities \n \n20,361,524 178,564,118 198,925,642 \n \n16,918,959 193,889,352 210,808,311 \n \nDeferred Inflows of Resources \n \n19,776,192 \n \n8,454,931 \n \nNet Position: Net investment in capital assets Restricted Unrestricted \nTotal net position, as restated \n \n159,507,762 \n \n28,995,707 \n \n(146,611,656) \n \n$ \n \n41,891,813 \n \n154,269,357 29,458,799 (151,516,700) $ 32,211,456 \n \nNet Position The System's total net position represents resources that are subject to external restrictions on how they may be used. Comprising the majority of restricted net position are assets being accumulated for use in capital projects accounting for 89.67% of total restricted net position. The remaining 10.33% of restricted net position represents nonexpendable, permanent funds and funds set aside for the continuation of federal and other programs. \nUnrestricted net position includes the school system's proportionate share of the collective net pension liability in each cost sharing benefit plan in which the district participates. For the second year, the net Other Post-employment Benefits (OPEB) liability was also recorded to reflect the school system's share of healthcare benefits for retirees. The net pension liability was first recorded on the FY2015 system-wide financials as part of the implementation of GASB 68. The net OPEB liability was recorded in FY2018 as part of the implementation of GASB 75. Because of these \n \n-7- \n \n changes, the System continues to report a deficit unrestricted net position on the Systemwide Statement of Net Position. \nChanges in Net Position from Operating Results \nNet position increased $9,680,357 from operating results in the fiscal year ended June 30, 2018, compared to an increase of $1,274,851 in the prior fiscal year. \nRevenues In 2019, the System's total revenues increased $4,285,472 (3.52%) over FY18. \n Operating grants and contributions increased by 2.48%, or $2.09 million, primarily due to an increase in the State QBE funding formula which takes into account student growth (FTEs) and increased funding for salary and benefit costs. The primary driver of additional QBE funds was a 24.33% increase in the employer's contribution to the Teachers Retirement System of Georgia (TRS), which is in the funding formula. \n General property taxes increased $839,850. Ad valorem taxes showed a steady increase while Title Ad Valorem Taxes (TAVT), a tax on motor vehicles, increased $282,751. \n Special Purpose Local Option Sales Tax (SPLOST) increased 7.45%, or $.67 million, due to strong growth in spending in the local economy. \n Investment earnings increased 70.99%, or $.42 million, as interest rates on the GA Fund I investment pool improved from 1.86% to 2.41% on higher average account balances. \nExpenses In 2019, the System's total expenses decreased $4,120,034 (3.42%) over FY18. \n Pension expense and OPEB expense decreased $3.90 million. This expense is spread out among the functional categories. \n Food service operations expenses decreased $1.05 million due to lower payroll related to position vacancies and lower food costs from a decrease in USDA products received and used. \n Depreciation expense increased $.28 million with increased investments in capital projects. \nKey elements of the increase are as follows on the next page: \n-8- \n \n Griffin-Spalding County School System Changes in Net Position from Operating Results \n \nRevenues Program revenues: \nOperating grants and contributions Charges for services \nGeneral revenues: Property taxes Special purpose local option sales tax Other general revenues Total revenues \nExpenses Instruction Pupil support services Improvement of instructional services Educational media services General and school administration Business administration Maintenance and operation of plant Student transportation services Central support services Other support services Food service operations Community services operations Interest on long-term debt Unallocated depreciation Total expenses \n \nGovernmental \n \nActivities \n \nFY 2019 \n \nFY 2018 \n \nChange \n \n$ 86,216,523 1,055,032 \n \n$ 84,128,840 806,326 \n \n2.5% 30.8% \n \n27,951,586 9,691,463 1,021,885 \n125,936,489 \n \n27,111,736 9,019,297 584,818 \n121,651,017 \n \n3.1% 7.5% 74.7% 3.5% \n \n67,870,442 3,508,379 7,030,486 1,690,025 \n11,067,871 466,909 \n9,405,687 5,331,174 1,716,182 1,013,974 6,104,243 \n216,000 392,440 442,320 116,256,132 \n \n70,571,495 3,573,107 7,004,975 1,761,282 11,433,594 442,700 9,148,396 5,596,906 1,972,739 903,044 7,156,285 217,390 276,066 318,187 \n120,376,166 \n \n-3.8% -1.8% \n.4% -4.0% -3.2% 5.5% 2.8% -4.7% -13.0% -12.3% -14.7% -.6% 42.2% 39.0% -3.4% \n \nIncrease in net position Net position, beginning of year Net position, end of year \n \n9,680,357 32,211,456 $ 41,891,813 \n \n1,274,851 30,936,605 $ 32,211,456 \n \n30.1% \n \n-9- \n \n Financial Analysis of the System's Funds \nGeneral Fund Budgetary Highlights \nThe System's budget is prepared in accordance with Georgia law and is based on accounting for certain transactions on the modified accrual basis of accounting. The System uses site-based budgeting and the budgeting system is designed to tightly control site budgets but provide flexibility for site management. \nThe most significant budgeted fund is the general fund. The original fiscal year 2019 budget, as adopted, projected a use of fund balance in the amount of $523,326. The use of fund balance was tied to specific initiatives in a curriculum audit and strategic plan. Revenues were projected to be $92,374,144 and expenditures and other financing uses were projected to be $92,897,470. These amounts represented an increase of .91% from fiscal year 2018 actual revenues and an increase of 1.49% from fiscal year 2018 actual expenditures. The System's earnings under the State's Quality Basic Education (QBE) funding formula increased significantly. With sustained revenue growth, the Georgia General Assembly was able to eliminate the \"amended formula adjustment,\" which has negatively impacted the funding formula for sixteen years. This formula adjustment effectively decreased the amount of funding earned by school systems according to the QBE formula in order to meet state revenue projections. With the increase in funding; however, came increases in mandated costs. These costs included a full year of an increase in the employer's cost for health insurance for classified employees ($945/month), the required longevity steps on the state salary schedule for certified employees, and a 24.33% increase in the employer's contribution to the Teachers Retirement System of Georgia (TRS). The System also received additional state funds from the equalization grant due to the System's decrease in rankings comparing the relative property wealth per student among Georgia school districts. Budgeted revenues for property taxes and the Title Ad Valorem Tax increased to reflect a decrease in exemptions for industrial properties and an upward trend in the collection of taxes from the sale of motor vehicles. The Board of Education adopted a local property tax millage rate of 18.066, a decrease of .138 mills. \nThe final amended general fund budget added $1,404,887 to revenues, an increase of 1.52% from the original budget for the year. The amended budget included a decrease to state revenues. In June 2019, the State instituted a State Health Benefit Plan (SHBP) Employer Contribution Holiday which eliminated the employer share of health cost for the month of June. While revenues through the QBE funding formula decreased, the net result was positive since the school system has health insurance costs that far exceed the amount allotted in the formula. Despite the decrease in state funds, local revenues were amended to reflect better collections of property tax and Title Ad Valorem taxes as well as rising investment revenues associated with higher interest rates. Amended revenues also included the addition of several local and state grants received during the year. \nThe original budget for fiscal year 2019 included appropriated expenditures of $92,897,470. The original budget included funding for a 175 day instructional calendar \n-10- \n \n with teachers working 190 days, five additional teachers, a longevity step for all eligible employees, and a 24.33% increase to the employer's contribution rate to the Teachers Retirement System of Georgia. FY19 funding initiatives also included the second phase of the development of comprehensive curriculum guides for social studies and specific elective courses, school resource officers at middle and high schools, and transfers to subsidize the nutrition and Pre-Kindergarten programs. \nAs the year progressed, an amended budget totaling $94,550,375 was approved by the Board of Education, an increase of $1,652,905 in appropriated expenditures. For internal budgeting purposes, the self-insured workers compensation fund and after-school program are maintained separate from the general fund; however, the amended budget includes collapsing these two accounts into the general fund for the preparation of financial statements. Similar to the revenue side, additional expenditures include several local and state grants received during the year. \nGeneral Fund Operations \nThe general fund finished fiscal year 2019 with a fund balance of $18,056,230, an increase of $648,254 from fiscal year 2018. $559,064 of the fund balance was committed to the risk management function in compliance with GASB 54. Actual revenues exceeded budget projections by $343,210 while actual expenditures were $1,018,164 lower than budgeted. \nLocal revenue sources represented 31.18% of total general fund revenues for the year, down from 31.43% in the prior year. Local revenues exceeded budgeted projections by $422,762. Ad valorem property taxes came in under budget by $80,860. Property taxes are dependent on collection rates of current and prior years while the Title Ad Valorem Tax relates to the volume of vehicles sold during the year. Property taxes held relatively flat while Title Ad Valorem Tax collections increased significantly. State revenues came in on target with the budget difference representing some unused grant funds. Federal revenues are comprised of two items, Medicaid reimbursements for speech services and funding for the Junior Reserve Officers' Training Corps (JROTC) program. Due to a staff vacancy in the program, the System did not receive funds for the position and the resulting federal revenues were less than budgeted. \nAt year end, total expenditures were under budget by $1,018,164. Expenditures for direct classroom instruction (e.g. teacher salaries and benefits, textbooks, classroom supplies, etc.) accounted for 62.13% of total general fund expenditures, slightly down from the prior fiscal year. Savings in expenditures were spread out among the functional categories. Areas of savings include personnel changes that occur from the time of budget adoption to the end of the year. The budget is a snapshot at one point in time and the school system experiences a significant amount of change in personnel over the summer and throughout the year. This change can lead to savings in salaries as new personnel fill positions held by retirees, people add or drop health benefits, or positions remained unfilled for a period of time. One large area of savings came with the SHBP \n-11- \n \n Employer Contribution Holiday. The System did not have to pay the State Health bill for the month of June which saved the System approximately $869,000. \nThe following chart details the major components of revenues and expenditures by function for fiscal year 2019, a comparison of changes with the previous fiscal year, and the change in fund balance for the general fund. \nGriffin-Spalding County School System General Fund - Revenue and Expenditures Comparison \n \nRevenues State Federal Local and other Total revenues \nExpenditures Instruction Pupil support services Instructional staff support Media Services General and school administration Business administration Maintenance and Operations Student Transportation Other support services Community services School Nutrition Services Total expenditures \nOther Financing Sources (Uses) Proceeds from sale of assets Transfers in/(out) Total other financing sources (uses) \n \nAmount \n \n% of Total \n \n$ 64,435,501 504,310 \n28,773,516 $ 94,360,013 \n \n68.29 0.53 \n31.18 100 \n \n$ 57,866,372 2,130,706 4,122,176 1,668,656 \n10,379,527 480,116 \n8,474,516 5,302,206 2,668,779 \n215,222 66,707 \n$ 93,374,983 \n \n61.97 2.28 4.41 1.79 11.12 0.51 9.08 5.68 2.86 0.23 0.07 100 \n \n21,891 (358,667) $ (336,776) \n \nIncrease (Decrease) \nOver FY2018 \n$ 2,270,494 (97,441) 646,686 \n$ 2,819,739 \n$ 1,166,758 181,614 264,731 58,312 448,688 43,883 285,794 374,395 \n(150,200) 2,817 \n(3,990) $ 2,672,802 \n \nNet change in fund balance \n \n$ 648,254 \n \n-12- \n \n General fund  changes in fund balance \nState revenues increased $2.27 million due to funding for a 24.33% increase to the cost of contributions to the Teachers Retirement System of Georgia and the elimination of the amended formula adjustment. This increase was partially offset by a decrease in funding for health insurance due to the SHBP Employer Contribution Holiday. Increases in Title Ad Valorem Tax collections combined with increases in investment earnings comprise the bulk of the change in local revenues. \nThe largest impact to functional categories was the increase in the TRS contribution rate. The increase in the cost of TRS for the general fund was approximately $1.9 million spread out among the functional categories. More significant increases to functional categories were partially offset by the SHBP Employer Contribution Holiday, which eliminated the cost of health insurance for one month (June). The savings from this holiday amounted to approximately $869,000. Other factors in the changes between years include the following: \n Direct instruction includes five additional teachers. Instructional staff also received a longevity step (pay increase) on their respective salary schedules. \n Instructional staff support includes the second phase of a significant investment toward the development of curriculum guides following the Rigorous Curriculum Design (RCD) process. \n Maintenance and operations and transportation, which have few expenditures related to TRS, include a longevity step (pay increase) on the salary schedule for eligible employees and an increase in health insurance expenditures for classified employees. \nCapital Projects Fund Operations \nThe capital projects fund is used to account for school construction and the purchase of large capital assets. Current capital construction costs continue to be paid directly from prior receipts collected during the 2007 SPLOST (SPLOST III) and 2012 SPLOST (SPLOST IV) cycles and current receipts from the 2015 SPLOST (SPLOST V). SPLOST collections in fiscal year 2019 increased 7.45% compared to fiscal year 2018 with receipts of $9,691,463 and $9,019,297, respectively. \nCapital project expenditures primarily consisted of renovation work on SPLOST V projects. These projects included the Griffin Region College and Career Academy, Moore Elementary, and A.Z. Kelsey Academy. Expenditures also included instructional technology and school buses. The fund balance for the capital projects fund reflects amounts collected for use on projects not yet begun. \n-13- \n \n Debt Service Fund Operations \n \nThe debt service fund is used to accumulate resources for the retirement of long-term debt. The System issued general obligation sales tax bonds in the amount of $13,370,000 in FY16 for capital projects to fund the initial construction of the Griffin Region College and Career Academy, the installation of system-wide instructional technology and bus purchases. The fund reflects principal and interest payments in the amount of $1,770,000 and 591,501, respectively. \nCapital Assets and Debt Administration \nCapital Assets \n \nThe System's investment in capital assets for its governmental activities as of June 30, 2019, totaled $171,530,339, net of accumulated depreciation. The investment in capital assets includes land, buildings, vehicles, and equipment used in providing services to our students and community as well as construction in progress on several building projects. \n \nMany of the changes to the System's capital asset accounts came from the renovation of existing buildings. Renovation work at Memorial Stadium, Griffin Region College and Career Academy, Moore Elementary, and A.Z. Kelsey Academy constituted the majority of the year's activity. Note 4 to the basic financial statements provides additional information on the System's capital assets including a detailed breakdown of the types of capital assets included in the computation of depreciation charges. As of June 30, 2019, 26.83% of the cost basis of depreciable assets had been taken as a depreciation charge since the various assets were placed in service. A summary of capital assets follows. \n \nGriffin-Spalding County School System Capital Assets, Net of Accumulated Depreciation \n \nFY 2019 \n \nGovernmental Activities \n \nFY 2018 \n \nLand \n \n$ \n \nConstruction in progress \n \nBuildings \n \nBuilding Improvements \n \nVehicles and Equipment \n \n3,365,294 $ 1,347,670 97,738,338 61,600,128 7,478,909 \n \n3,360,708 1,152,494 99,483,914 56,872,520 7,530,359 \n \nTotal \n \n$ \n \n171,530,339 $ \n \n168,399,995 \n \n-14- \n \n Debt Administration \nThe Griffin-Spalding County School System issued General Obligation Sales Tax Bonds, Series 2015, in July 2015. The proceeds of this bond issuance has gone toward the following 2015 SPLOST (SPLOST V) projects: Griffin Region College and Career Academy, the System-wide installation of the Audio Enhancement classroom technology product, and bus purchases. \nAt June 30, 2019, the System had $12,022,577 in outstanding general obligation bond indebtedness, net of related premiums. The current debt limitation for the System is $144,019,992 based on state law limiting the amount of general obligation debt a government entity may issue to ten (10) percent of the total assessed value of taxable property. \nThe System maintains a rating of AA from Standard \u0026 Poor's for general obligation debt subject to the State intercept program. \nAdditional information on the System's long-term debt can be found in Note 5 to the basic financial statements. \nOutlook for the Future \nThe System continues to maintain a strong financial position. As the economic position of the State has improved, so has the funding for the school system. FY19 saw the elimination of the cut to the State funding formula, known as the \"amended formula adjustment.\" This cut existed since 2003 and its elimination was a welcome sign of an improving economy. The largest increases in funding were tied to increases in mandated costs such as the employer's contribution to the Teachers Retirement System of Georgia and longevity steps on the state salary schedule for certified employees (e.g. teachers). Throughout the past year and into FY20, state revenues improved. The State increased funds for public education significantly by providing $3,000 pay raises to certified staff. Month to month growth in state revenues is slowing; however, funding for public education is not expected to decline. \nThe assessed net value of the county property digest increased approximately 6.9% in 2019 due to a large amount of property revaluations. Taxable property from new growth increased $49.3 million in the 2019 tax digest, but much of the increase was offset by a $34.9 million increase in exemptions. As part of the 2019 tax digest, voters in the county approved an assessment freeze on the value of property for seniors aged 65 and older. The school system will have to monitor the impact of the freeze since the state funding formula disregards local exemptions when calculating the value of 5 mills of tax (Local Five Mill Share) removed from the state allotment to the school system. The increase in the tax digest typically has an inverse relationship with funding the system receives through the Equalization Grant, a significant source of funding. The grant can have large shifts from one year to the next, so the System will have to be prepared for movement in this allocation. \n-15- \n \n Effective for FY20, the State changed the allocation percentages to local governments for the Title Ad Valorem Tax (TAVT). TAVT works in a similar manner as a sales tax on motor vehicles and is incrementally replacing motor vehicle property taxes on the tax digest. TAVT has shown very strong increases year over year. The change in the allocation percentage is a beneficial shift to local governments and is expected to result in a sizable increase in TAVT revenues for the Griffin-Spalding County School System. The first few months of collections have shown this to be the case. The increase in this revenue source is anticipated to offset potential declines in state funding based on the increases in Local Five Mill Share and declines in the equalization grant funding. \nThe Board of Education adopted a millage rate of 17.077 mills, a decrease of .989 mills. This millage rate is the rollback rate that takes into account digest growth from revaluations. By adopting the rollback rate, the System negates the effect of the increased digest from revaluations. While negating the portion of growth from revaluations, the System will receive approximately $250,000 in additional property taxes from new growth. The Board of Education will continue to be mindful in obligating funds for programs and uses that might be needed to cover expenses not funded through state appropriations. \nAs of June 30, 2019, the General Fund reflected a fund balance of $18,056,230, translating to 67 days of operation based on the fiscal year 2020 budget. Of this balance, $559,064 was committed for risk management purposes by the Board of Education. Through careful planning, the System has been able to make intentional investments in the instructional program without having to resort to drastic changes from one year to the next. The fiscal year 2020 budget includes a 175 day student calendar with 190 work days for teachers, a $3,000 pay raise for certified staff (e.g. teachers), a 3% pay raise for classified staff (e.g. custodians), a longevity step for eligible employees on employee pay scales, funding for the third phase of development of curriculum guides for elective courses, and support positions at the school level. Financial decisions focus on the sustainability of programs or costs and performance metrics tied to strategic objectives of the system. \nWe expect student enrollment to remain constant for the foreseeable future. Residential growth has been limited to a senior community in the county; however, building has started for a new apartment complex. The county's industrial park continues to pick up new industries, albeit at a slow pace. Initially, these industries include abatements in school property taxes, but a regular phase out of these abatements will help the digest to grow over time. Overall, growth in population and new construction is incremental. \nRequests for Information \nThis financial report is designed to provide a general overview of Griffin-Spalding County School System's finances for those with an interest in the System's finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to Ryan McLemore, CFO, Griffin-Spalding County School System, P.O. Drawer N, Griffin, Georgia 30224. 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UHTXLUHPHQWVIRUILVFDO\\HDU-XQH \n \n6HH,QGHSHQGHQW$XGLWRU\nV5HSRUW \n \n-80- \n \n STATISTICAL SECTION (UNAUDITED) \n \nThis part of the System's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, notes, and required supplementary information says about the System's overall financial health. \n \nContents \n \nFinancial Trends \n \nPage 82 \n \nThese schedules contain trend information to help the reader understand \n \nhow the System's financial performance and well-being have changed \n \nover time. \n \nRevenue Capacity \n \n87 \n \nThese schedules contain information to help the reader assess the System's \n \nmost significant local revenue source, the property tax. \n \nDebt Capacity \n \n95 \n \nThese schedules present information to help the reader assess the \n \naffordability of the System's current levels of outstanding debt and \n \nthe System's ability to issue additional debt in the future. \n \nDemographic and Economic Information \n \n100 \n \nThese schedules offer demographic and economic indicators to help \n \nthe reader understand the environment within which the System's \n \nfinancial activities take place. \n \nOperating Information \n \n105 \n \nThese schedules contain service and infrastructure data to help the reader \n \nunderstand how the information in the System's financial report relates \n \nto the services the System provides and the activities it performs. \n \nSources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. \n \n-81- \n \n -82- \n \nAssets: Cash and cash equivalents Property taxes receivable Due from other governments Other receivables Note receivable Investments Inventories Prepaid assets Capital assets not depreciable Capital assets, net of accumulated depreciation Other assets (net of accumulated amortization) \nTotal assets \nDeferred Outflows of Resources: \nLiabilities: Accounts payable and other current liabilities Accrued interest payable Unearned revenue Bonds payable - due within one year Long-term liabilities: Capitalized lease obligations - due within one year Capitalized lease obligations - due in more than one year Bond premium Bonds payable - due in more than one year Net pension liability Net OPEB liability \nTotal liabilities \nDeferred Inflows of Resources: \nNet Position: Net investment in capital assets Restricted for: Capital projects Debt service Other purposes Unrestricted \nTotal net position \n1 First year of implementation of GASB Statement No. 68. 2 First year of implementation of GASB Statement No. 75. \n \nGriffin-Spalding County School System Comparative Statement of Net Position, Last Ten Fiscal Years \n \n2010 \n$40,383,138 2,150,347 6,856,779 593,176 332,270 1,050,000 65,202 \n9,104,843 120,065,795 \n82,776 \n180,684,326 \n \n2011 \n$33,498,312 2,780,354 9,675,630 983,744 272,270 1,050,000 51,577 52,000 \n13,792,646 117,476,627 \n46,591 \n179,679,751 \n \n2012 \n$32,831,774 2,564,245 \n11,195,238 250,087 212,270 \n1,050,000 126,169 \n10,866,707 124,186,955 \n10,407 \n183,293,852 \n \n2013 \n$35,266,312 2,969,255 \n10,191,867 308,194 152,270 \n1,075,483 13,029 6,135 \n15,374,752 122,020,657 \n11,926 \n187,389,880 \n \nFiscal Year \n \n2014 \n \n20151 \n \n$39,502,468 3,135,866 9,594,956 317,248 77,270 1,059,715 27,016 \n \n$44,312,538 2,767,012 9,661,485 359,288 \n554,774 127,417 \n \n3,700,571 134,764,729 \n50,462 \n \n12,724,954 133,416,521 \n96,987 \n \n192,230,301 204,020,976 \n \n6,826,825 \n \n2016 \n$54,214,718 2,283,426 9,759,490 374,631 \n50,000 156,463 \n7,241,265 146,330,095 \n93,602 \n220,503,690 \n7,667,253 \n \n2017 \n$47,512,338 2,614,790 \n14,641,094 362,339 \n20,000 164,854 \n17,713,117 147,237,307 \n67,109 \n230,332,948 \n24,905,028 \n \n20182 \n$50,924,778 1,863,733 \n11,858,666 250,161 \n20,000 172,138 \n4,513,202 163,886,793 \n128,995 \n233,618,466 \n17,856,232 \n \n2019 \n$51,020,815 1,797,334 \n12,138,799 309,616 \n20,000 145,581 \n4,712,964 166,817,375 \n82,434 \n237,044,918 \n23,548,729 \n \n14,655,769 \n265,894 4,495,000 \n192,021 289,922 122,838 9,505,000 \n29,526,444 \n \n12,561,257 \n276,968 4,665,000 \n201,084 88,837 68,243 \n4,840,000 \n22,701,389 \n \n13,557,279 176,484 \n4,840,000 88,838 13,649 \n18,676,250 \n \n12,093,085 58,708 \n12,151,793 \n \n11,454,304 106,378 \n11,560,682 \n \n15,209,391 59,393 \n \n12,506,704 77,551 \n \n15,847,646 103,846 \n \n15,048,068 \n100,891 1,770,000 \n \n15,221,241 139,000 101,283 \n4,900,000 \n \n62,232,724 \n77,501,508 22,421,037 \n \n1,436,760 13,370,000 74,668,994 \n102,060,009 7,804,384 \n \n1,098,699 13,370,000 100,753,113 \n131,173,304 1,395,619 \n \n760,638 11,600,000 91,097,553 90,431,161 \n210,808,311 \n8,454,931 \n \n422,577 6,700,000 90,835,778 80,605,763 \n198,925,642 \n19,776,192 \n \n114,565,857 \n13,605,759 8,092,803 1,356,314 13,537,149 \n$151,157,882 \n \n121,406,109 \n15,239,012 3,832,266 2,269,853 14,231,122 \n$156,978,362 \n \n130,111,176 \n14,516,860 4,954,100 2,186,850 12,848,616 \n$164,617,602 \n \n137,395,409 \n19,060,913 605 \n2,200,973 16,580,187 \n$175,238,087 \n \n138,465,300 22,637,265 2,217,705 17,349,349 $180,669,619 \n \n146,141,475 21,480,389 2,354,839 (59,051,447) $110,925,256 \n \n148,434,069 \n21,361,113 283,916 \n2,132,742 (53,905,290) \n$118,306,550 \n \n150,481,724 \n25,587,066 369,032 \n2,269,772 (56,038,541) \n$122,669,053 \n \n154,269,357 \n26,540,689 517,219 \n2,400,891 (151,516,700) \n$32,211,456 \n \n159,507,762 \n26,000,493 319,704 \n2,675,510 (146,611,656) \n$41,891,813 \n \n -83- \n \nGovernmental activities: \nCurrent and other assets Capital assets \nTotal assets \nDeferred Outflows of Resources \nCurrent and other liabilities Long-term liabilities outstanding \nTotal liabilities \nDeferred Inflows of Resources \nNet position: Net investment in capital assets Restricted Unrestricted \nTotal governmental activities net position \n1 First year of implementation of GASB Statement No. 68. \n \nGriffin-Spalding County School System Net Position by Component, Last Ten Fiscal Years \n \n2010 \n \n2011 \n \n2012 \n \n2013 \n \nFiscal Year \n \n2014 \n \n20151 \n \n2016 \n \n2017 \n \n20182 \n \n2019 \n \n$51,513,688 129,170,638 180,684,326 \n19,416,663 10,109,781 29,526,444 \n \n$48,358,478 131,269,273 179,627,751 \n17,503,225 5,198,164 22,701,389 \n \n$48,240,190 135,053,662 183,293,852 \n18,573,763 102,487 \n18,676,250 \n \n$49,988,336 137,395,409 187,383,745 \n12,151,793 0 \n12,151,793 \n \n$53,765,001 138,465,300 192,230,301 \n11,560,682 0 \n11,560,682 \n \n$57,879,501 146,141,475 204,020,976 \n6,826,825 \n15,268,784 62,232,724 77,501,508 \n22,421,037 \n \n$66,932,330 153,571,360 220,503,690 \n7,667,253 \n12,584,255 89,475,754 102,060,009 \n7,804,384 \n \n$65,382,524 164,950,424 230,332,948 \n24,905,028 \n15,951,492 115,221,812 131,173,304 \n1,395,619 \n \n$65,218,471 168,399,995 233,618,466 \n17,856,232 \n16,918,959 193,889,352 210,808,311 \n8,454,931 \n \n$65,514,579 171,530,339 237,044,918 \n23,548,729 \n20,361,524 178,564,118 198,925,642 \n19,776,192 \n \n114,565,857 23,054,876 13,537,149 \n \n121,406,109 21,341,131 14,231,122 \n \n130,111,176 21,657,810 12,848,616 \n \n137,395,409 21,262,491 16,580,187 \n \n138,465,300 24,854,970 17,349,349 \n \n146,141,475 23,835,228 \n(59,051,447) \n \n148,434,069 23,777,771 \n(53,905,290) \n \n150,481,724 28,225,870 \n(56,038,541) \n \n154,269,357 29,458,799 \n(151,516,700) \n \n159,507,762 28,995,707 \n(146,611,656) \n \n$151,157,882 $156,978,362 $164,617,602 $175,238,087 $180,669,619 $110,925,256 $118,306,550 $122,669,053 $32,211,456 $41,891,813 \n \n Griffin-Spalding County School System Changes in Net Position, Last Ten Fiscal Years \n \n-84- \n \nExpenses Governmental activities: \nInstruction Pupil support services Improvement of instructional services Educational media services General and school administration Business administration Maintenance and plant operations Student transportation services Central support services Other support services Food service operations Community services operations Interest on long-term debt Unallocated depreciation and other expenses \nTotal governmental activities expenses \nProgram Revenues Governmental activities: \nCharges for services: Instruction Food service operations \nOperating grants and contributions \nCapital grants and contributions \nTotal governmental activities program revenues \nNet (Expense) Revenue Governmental activities \nGeneral Revenues and Other Changes in Net Position Governmental activities: \nTaxes: Property taxes, levied for general purposes Special Purpose Local Option Sales Taxes \nInvestment earnings Gain on sale of fixed assets Miscellaneous \nTotal general revenues and other changes in net position governmental activities \nChange in Net Position \n \n2010 \n \n2011 \n \n2012 \n \n2013 \n \nFiscal Year \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n$65,038,443 3,041,075 3,649,259 1,974,281 8,022,284 421,419 8,999,351 3,680,349 1,167,341 1,247,689 5,470,823 152,963 644,738 266,318 \n103,776,333 \n \n$63,217,366 3,155,458 4,540,524 1,928,462 8,175,375 330,052 8,507,364 3,799,576 1,154,965 1,309,216 5,619,731 149,722 535,173 228,752 \n102,651,736 \n \n$62,865,938 2,650,382 4,875,165 1,752,187 8,250,954 335,644 8,235,705 4,040,572 1,173,057 1,011,001 5,940,725 132,624 337,402 232,792 \n101,834,148 \n \n$60,807,268 2,367,075 4,288,607 1,524,908 8,068,277 348,784 8,405,731 4,394,079 1,257,984 1,181,099 6,125,485 126,811 123,280 244,769 \n99,264,157 \n \n$63,560,323 2,459,659 3,804,161 1,568,570 8,338,418 386,548 9,163,199 4,712,870 1,462,350 1,209,923 6,388,230 128,120 \n270,621 \n103,452,992 \n \n$61,195,688 2,397,156 4,344,137 1,551,391 8,560,997 373,588 8,747,253 4,854,254 1,567,518 1,347,676 6,334,315 129,182 \n231,702 \n101,634,857 \n \n$63,207,574 2,646,558 4,806,082 1,553,385 9,171,348 398,971 8,687,442 4,715,730 1,784,328 1,232,454 6,502,881 158,680 249,101 243,823 \n105,358,357 \n \n$68,115,614 3,405,213 6,065,947 1,701,942 10,664,979 448,078 9,051,874 5,365,352 1,837,944 981,592 6,793,323 150,809 276,066 199,477 \n115,058,210 \n \n$70,571,495 3,573,107 7,004,975 1,761,282 \n11,433,594 442,700 \n9,148,396 5,596,906 1,972,739 \n903,044 7,156,285 \n217,390 276,066 318,187 \n120,376,166 \n \n$67,870,442 3,508,379 7,030,486 1,690,025 \n11,067,871 466,909 \n9,405,687 5,331,174 1,716,182 1,013,974 6,104,243 \n216,000 392,440 442,320 \n116,256,132 \n \n391,364 894,109 72,330,693 \n73,616,166 \n \n377,149 786,979 72,127,662 \n73,291,790 \n \n334,172 749,548 69,263,558 3,093,618 73,440,896 \n \n293,976 663,209 71,892,094 2,119,430 74,968,709 \n \n346,634 585,734 72,773,169 \n73,705,537 \n \n382,589 547,497 76,184,510 579,228 77,693,824 \n \n382,156 509,233 76,669,919 149,761 77,711,069 \n \n406,802 510,892 80,210,632 2,500,000 83,628,326 \n \n479,822 326,504 84,128,840 \n84,935,166 \n \n572,623 482,409 86,216,523 \n87,271,555 \n \n(30,160,167) (29,359,946) (28,393,252) (24,295,448) (29,747,455) (23,941,033) (27,647,288) (31,429,884) (35,441,000) (28,984,577) \n \n27,434,435 8,479,090 \n117,706 613,986 367,185 \n \n26,111,674 8,243,365 \n72,348 21,138 731,901 \n \n26,660,363 8,706,803 \n31,392 159,823 474,111 \n \n25,567,376 8,450,570 \n7,457 283,113 607,417 \n \n26,841,369 8,285,565 \n22,898 29,155 \n \n26,035,024 8,596,211 \n34,457 75,915 \n \n26,108,637 8,818,726 \n86,916 14,303 \n \n27,090,314 8,538,776 \n211,146 (47,849) \n \n27,111,736 9,019,297 \n584,818 \n \n27,951,586 9,691,463 \n999,994 21,891 \n \n37,012,402 $6,852,235 \n \n35,180,426 $5,820,480 \n \n36,032,492 $7,639,240 \n \n34,915,933 $10,620,485 \n \n35,178,987 $5,431,532 \n \n34,741,607 $10,800,574 \n \n35,028,582 $7,381,294 \n \n35,792,387 $4,362,503 \n \n36,715,851 $1,274,851 \n \n38,664,934 $9,680,357 \n \n Griffin-Spalding County School System Fund Balances, Governmental Funds Last Ten Fiscal Years \n \nGeneral Fund Reserved Unreserved Committed to: Risk Management Assigned to: Subsequent period expenditures Unassigned \nTotal general fund \n \n2010 \n \n2011 1 \n \n2012 \n \n2013 \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n$9,223,538 \n \n$366,497 \n \n$409,223 \n \n$428,995 \n \n$444,070 \n \n$334,926 \n \n$348,175 \n \n$451,258 \n \n$505,527 \n \n$559,064 \n \n$9,223,538 \n \n$3,125,760 $6,630,770 \n \n$8,222,547 \n \n$400,693 $11,487,321 \n \n$12,448,015 \n \n$14,423,807 \n \n$16,646,486 \n \n$16,953,863 \n \n$16,902,449 \n \n$17,497,166 \n \n$10,123,027 $8,631,770 $12,317,009 $12,892,085 $14,758,733 $16,994,661 $17,405,121 $17,407,976 $18,056,230 \n \n-85- \n \nAll Other Governmental Funds \nReserved \nUnreserved, reported in: \nDebt service funds \nCapital projects funds \nSpecial revenue funds Nonspendable Restricted for: \nDebt service funds Capital projects funds Continuation of federal and state programs Committed to: School activity funds and other programs Assigned to: Permanent funds Capital projects funds Unassigned \n \n$23,120,078 1,924,775 \n \n1,358,704 \n3,832,266 15,239,012 \n1,021,787 \n905,857 \n86,126 662,008 \n(7,061) \n \n1,264,789 \n4,954,100 14,516,860 \n978,601 \n943,830 \n88,606 737,514 \n \n1,183,886 \n605 19,060,913 \n1,027,880 \n993,205 \n79,366 654,914 \n \n1,159,714 \n22,637,265 1,061,959 958,252 80,833 800,518 \n \n1,266,522 \n21,480,389 1,215,734 \n998,146 80,433 901,543 \n \n1,278,930 \n283,916 31,030,582 1,010,275 \n963,413 \n78,613 885,313 \n \n1,275,750 \n369,032 25,587,066 1,158,876 \n679,641 \n75,089 887,220 \n \n1,279,328 \n517,219 26,540,689 1,293,701 \n612,685 \n72,390 891,678 \n \n1,260,374 \n458,704 26,000,493 1,560,717 \n532,378 \n70,843 900,164 \n \nTotal all other governmental funds \n \n$25,044,853 $23,098,699 $23,484,300 $23,000,769 $26,698,541 $25,942,767 $35,531,042 $30,032,674 $31,207,690 $30,783,673 \n \n1 First year of implementation of GASB Statement No. 54. \n \n -86- \n \nRevenues State Funds Federal Funds Local and Other Funds \nTotal Revenues \nExpenditures Current operating Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General and School Administration Business Administration Maintenance and Operations of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operations Community Services Operations Other Operations of Non-Instructional Services Debt Service Principal Retirement Interest and Fiscal Charges Capital Outlay \nTotal Expenditures \nExcess (Deficiency) of Revenues over (under) expenditures \nOther Financing Sources (Uses) Proceeds from issuance of bonds Premium on issuance of bonds Capital Leases Proceeds from sale of assets Operating Transfers In Operating Transfers Out \nTotal Other Financing Sources (Uses) \nNet change in fund balance \nDebt service as a percentage of noncapital expenditures \n \nGriffin-Spalding County School System Changes in Fund Balances, Governmental Funds \nLast Ten Fiscal Years \n \n2010 \n \n2011 \n \n2012 \n \n2013 \n \nFiscal Year \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n$49,449,766 20,640,398 40,015,559 \n110,105,723 \n \n$53,242,210 16,691,914 38,846,616 \n108,780,740 \n \n$54,158,030 16,165,493 39,167,672 \n \n$57,015,876 14,609,040 37,875,737 \n \n$56,516,224 13,992,709 38,257,965 \n \n$59,861,710 13,994,514 39,046,240 \n \n$62,018,558 12,927,458 38,067,891 \n \n$66,809,022 13,657,932 38,951,158 \n \n$67,724,853 14,371,828 40,271,954 \n \n$69,740,617 14,356,100 42,038,590 \n \n109,491,195 109,500,653 108,766,898 112,902,464 113,013,907 119,418,112 122,368,635 126,135,307 \n \n63,487,687 \n3,041,075 3,641,134 1,899,632 8,159,136 \n421,419 8,575,642 3,352,294 1,146,642 1,247,689 5,554,164 \n152,963 \n \n61,224,513 \n3,155,458 4,583,898 1,850,640 8,320,708 \n330,052 7,997,423 3,530,820 1,158,270 1,309,216 5,652,494 \n149,722 \n \n61,049,695 \n2,650,382 4,878,330 1,671,982 8,287,053 \n335,644 7,757,671 4,180,543 1,171,163 1,011,001 6,033,570 \n132,624 \n \n58,259,041 \n2,367,075 4,259,348 1,442,319 8,095,367 \n348,784 7,976,520 4,342,653 1,250,969 1,181,099 5,830,828 \n126,811 \n \n60,249,928 \n2,459,659 3,784,362 1,483,960 8,339,489 \n386,548 8,745,331 5,383,792 1,472,731 1,209,923 6,078,352 \n128,120 \n \n61,212,322 \n2,485,603 4,471,213 1,525,756 8,774,022 \n384,124 8,141,627 5,304,096 1,606,199 1,347,676 6,055,545 \n134,392 \n \n60,524,508 \n2,744,447 4,875,616 1,528,079 9,414,878 \n417,103 8,170,130 5,167,386 1,861,594 1,232,454 6,260,483 \n164,403 \n \n63,991,267 \n3,320,385 5,860,610 1,558,477 10,446,030 \n433,398 8,139,176 5,630,221 1,774,981 \n981,592 6,418,612 \n145,962 \n \n66,380,237 \n3,474,417 6,814,720 1,610,344 11,276,031 \n436,233 8,213,363 5,559,023 1,980,364 \n903,044 6,608,707 \n213,234 \n \n67,823,600 \n3,669,460 7,125,681 1,668,656 11,587,403 \n480,116 8,493,445 5,868,255 1,727,930 1,013,974 5,916,480 \n216,000 \n \n298,515 644,738 5,643,587 \n107,266,317 \n \n4,687,021 535,173 \n5,423,135 \n109,908,543 \n \n4,866,084 337,402 \n6,467,491 \n \n4,928,832 123,280 \n6,109,132 \n \n4,917,055 \n \n10,534,389 \n \n446,083 13,541,664 \n \n614,127 15,205,713 \n \n614,127 7,106,920 \n \n1,770,000 591,501 \n7,980,460 \n \n110,830,635 106,642,058 104,639,250 111,976,964 116,348,828 124,520,551 121,190,764 125,932,961 \n \n2,839,406 \n \n(1,127,803) \n \n(1,339,440) 2,858,595 \n \n4,127,648 \n \n925,500 (3,334,921) (5,102,439) 1,177,871 \n \n202,346 \n \n281,719 25,210 \n(25,210) \n281,719 \n \n81,138 81,138 \n \n233,784 8,698 \n(8,698) \n233,784 \n \n343,113 47,444 \n(47,444) \n343,113 \n \n145,200 153,320 (153,320) \n145,200 \n \n13,370,000 1,774,821 \n \n185,374 166,218 (166,218) \n \n14,303 123,607 (123,607) \n \n185,374 15,159,124 \n \n14,531 408,319 (408,319) \n14,531 \n \n835,238 (835,238) \n0 \n \n21,891 358,667 (358,667) \n21,891 \n \n$3,121,125 ($1,046,665) ($1,105,656) $3,201,708 $4,272,848 $1,110,874 $11,824,203 ($5,087,908) $1,177,871 \n \n$224,237 \n \n0.93% \n \n5.00% \n \n4.99% \n \n5.03% \n \n0.00% \n \n0.00% \n \n0.43% \n \n0.56% \n \n0.54% \n \n2.00% \n \n Griffin-Spalding County School System Revenues by Source, Last Ten Fiscal Years \nGeneral Fund \n \n$100,000,000 $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \nState Federal Local \n \nYear Ended \n \nLocal \u0026 \n \nJune 30 \n \nOther Funds \n \nState Funds \n \nFederal Funds \n \nTotal Revenues \n \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \n$28,373,970 27,608,225 27,673,947 26,843,508 27,530,900 27,985,727 26,808,279 27,698,030 28,773,516 29,420,202 \n \n$44,123,199 47,914,514 46,155,540 49,837,533 51,380,415 53,982,459 56,521,227 58,652,259 62,165,007 64,435,501 \n \n$ 5,379,059 2,232,918 300,250 306,186 283,899 348,721 443,798 497,735 601,751 504,310 \n \n$ 77,876,228 77,755,657 74,129,737 76,987,227 79,195,214 82,316,907 83,773,304 86,848,024 91,540,274 94,360,013 \n \n-87- \n \n Griffin-Spalding County School System Percentage Change in Revenues by Source, Last Ten Fiscal Years \nGeneral Fund \n \nTotal Dollars \n \nYear Ended Local \u0026 June 30 Other Funds \n \nState Funds \n \nFederal Funds \n \nTotal Revenues \n \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \n$28,373,970 27,608,225 27,673,947 26,843,508 27,530,900 27,985,727 26,808,279 27,698,030 28,773,516 29,420,202 \n \n$44,123,199 47,914,514 46,155,540 49,837,533 51,380,415 53,982,459 56,521,227 58,652,259 62,165,007 64,435,501 \n \n$ 5,379,059 2,232,918 300,250 306,186 283,899 348,721 443,798 497,735 601,751 504,310 \n \n$77,876,228 77,755,657 74,129,737 76,987,227 79,195,214 82,316,907 83,773,304 86,848,024 91,540,274 94,360,013 \n \nPercentage Change 1 \n \n3.7% \n \n46.0% \n \n-90.6% \n \n21.2% \n \nPercentage of Dollars \n \nYear Ended Local \u0026 June 30 Other Funds \n \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \n36.43% 35.51% 37.32% 34.87% 34.76% 34.00% 31.99% 31.89% 31.43% 31.18% \n \nState Funds \n56.66% 61.62% 62.26% 64.73% 64.88% 65.58% 67.47% 67.53% 67.91% 68.29% \n \nFederal Funds \n \nTotal Revenues \n \n6.91% 2.87% 0.41% 0.40% 0.36% 0.42% 0.53% 0.57% 0.66% 0.53% \n \n100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% \n \n1Percentage change computed by using the following formula: (2019 revenue/2010 revenue)-1 = percentage change \n \n-88- \n \n Griffin-Spalding County School System Per Pupil Revenues by Source, Last Ten Fiscal Years \nGeneral Fund \n \nUNAUDITED \n \n10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 \n \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \nState Federal Local \n \nYear Ended Total \n \nStudent \n \nLocal \u0026 \n \nJune 30 \n \nRevenues Enrollment 1 Other Funds \n \nPer Pupil \n \nState \n \nFederal \n \nFunds \n \nFunds \n \nTotal Revenues 2 \n \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \n77,876,228 77,755,657 74,129,737 76,987,227 79,195,214 82,316,907 83,773,304 86,848,024 91,540,274 94,360,013 \n \n10,860 10,685 10,614 10,582 10,626 10,474 10,261 10,305 10,383 10,353 \n \n2,613 2,584 2,607 2,536 2,591 2,672 2,613 2,688 2,771 2,842 \n \n4,064 4,484 4,349 4,710 4,835 5,154 5,508 5,692 5,987 6,224 \n \n495 \n \n7,171 \n \n209 \n \n7,277 \n \n28 \n \n6,984 \n \n29 \n \n7,275 \n \n27 \n \n7,453 \n \n33 \n \n7,859 \n \n43 \n \n8,164 \n \n48 \n \n8,428 \n \n58 \n \n8,816 \n \n49 \n \n9,114 \n \nPercentage Change 3 \n \n21.2% \n \n-4.7% \n \n8.8% \n \n53.1% -90.2% \n \n27.1% \n \n1 Student enrollment figures are taken from fall enrollment (October 1) reports. 2 Revenues restated on a per pupil basis by using the following formula: \nRevenue/current enrollment = per pupil revenue 3 Percentage change computed by using the following formula: \n(2019 revenue/2010 revenue)-1 = percentage change \n \n-89- \n \n Griffin-Spalding County School System Assessed Value and Actual Value of Taxable Property, \nLast Ten Calendar Years \nSet forth below is information concerning the assessed (40% of fair market value) and estimated actual (fair market) value of taxable property within the District for the last ten years. \n \nUNAUDITED \n \nCalendar Year \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \nMillage Rate \n18.80 18.80 19.06 19.47 19.47 19.47 18.74 18.57 18.204 18.066 \n \nReal \u0026 Personal Property \n1,535,803,959 1,535,823,213 1,511,231,094 1,462,533,127 1,445,747,006 1,430,057,323 1,487,458,607 1,540,851,109 1,569,750,981 1,614,788,900 \n \nAssessed Values \n \nPublic Utilities \n \nMotor Vehicles \n \n30,632,259 26,487,026 31,294,800 34,640,971 34,269,621 33,809,411 33,811,678 33,513,721 36,086,991 33,513,721 \n \n133,827,370 115,267,630 113,708,460 119,331,500 124,174,530 104,295,620 77,650,790 59,914,540 45,370,860 36,046,170 \n \nMobile Homes \n2,091,994 1,945,727 1,831,893 1,737,824 1,645,629 2,275,598 2,168,548 3,230,420 3,030,682 3,300,026 \n \nGross Tax Digest \n1,702,355,582 1,679,523,596 1,658,066,247 1,618,243,422 1,605,836,786 1,570,437,952 1,601,089,623 1,637,509,790 1,654,239,514 1,687,648,817 \n \nBond Exemptions \n157,180,465 122,376,559 147,310,052 149,965,965 120,465,804 130,528,110 137,073,427 132,209,935 125,127,703 127,223,132 \n \nGeneral Obligation Bonds \nTax Digest1 \n1,545,175,117 1,557,147,037 1,510,756,195 1,468,277,457 1,485,370,982 1,439,909,842 1,464,016,196 1,505,299,855 1,529,111,811 1,560,425,685 \n \nMaintenance \u0026 Operation Exemptions \n213,342,187 216,690,191 246,727,800 248,484,241 223,127,568 236,423,353 244,984,605 243,756,849 233,376,929 241,692,560 \n \nMaintenance \u0026 Operation Tax Digest2 \n1,489,013,395 1,462,833,405 1,411,338,447 1,369,759,181 1,382,709,218 1,334,014,599 1,356,105,018 1,393,752,941 1,420,862,585 1,445,956,257 \n \nEstimated Actual Value \n4,255,888,955 4,198,808,990 4,145,165,618 4,045,608,555 4,014,591,965 3,926,094,880 4,002,724,058 4,093,774,475 4,135,598,785 4,219,122,043 \n \n-90- \n \n1Total assessed value, after deducting exemptions, for purposes of levying tax for the System's general obligation bonds. 2Total assessed value, after deducting exemptions, for purposes of levying tax for the support and maintenance of the System's school system. \nSource: State of Georgia Department of Revenue, Property Tax Division \n \n Griffin-Spalding County School System Millage Rates of the District Last Ten Calendar Years \n \nUNAUDITED \n \nSet forth below is information concerting the rate of levy of property taxes per $1,000 of assessed value, or millage rates, of the School System and all overlapping governments for the last ten calendar years. \n \nCalendar Year \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \nSupport and Maintenance \n18.80 18.80 19.06 19.47 19.47 19.47 18.74 18.57 18.204 18.066 \n \nSchool System \n \nLegal \n \nDebt \n \nLimit \n \nService \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \nTotal \n18.80 18.80 19.06 19.47 19.47 19.47 18.74 18.57 18.204 18.066 \n \nSpalding County 1 \n14.88 14.81 15.01 15.01 16.01 16.01 16.01 15.66 15.36 16.535 \n \nFire District \n3.23 4.17 4.17 4.17 4.17 4.17 4.17 3.61 3.61 3.61 \n \nState of Georgia \n0.25 0.25 0.25 0.20 0.15 0.10 0.05 0.00 0.00 0.00 \n \nCounty-wide Total \n37.16 38.03 38.49 38.85 39.80 39.75 38.97 37.84 37.17 38.21 \n \nCity of Griffin \n8.60 8.64 8.64 8.64 8.61 8.40 7.89 7.77 7.77 7.639 \n \nCity of Orchard Hill \n4.95 4.95 4.95 4.95 6.31 6.31 6.31 6.31 5.941 5.941 \n \nCity of Sunny-Side \n4.36 4.29 4.29 4.08 5.00 5.00 5.00 5.00 5.00 5.00 \n \n-91- \n \n1 Represents the millage rate for the unincoporated areas of Spalding County. The millage rate for the incorporated areas of Spalding County for calendar year 2018 was 16.535. \nSource: Spalding County Tax Commissioner \n \n Pulte Home Company LLC Caterpillar Inc. Coveris Holding Corp . Dematic Corporation Norcom Central GA EMC North Griffin Square LLC Bandag Bridgestone Walmart Stores Hoshizaki America Inc. Tenet Healthcare Corp. AEP Industries Halpern Industries Nacom Corporation First National Bank of Griffin \nTotals \n \nGriffin-Spalding County School System Principal Property Tax Payers, \nCurrent Year and Nine Years Ago \n \nUNAUDITED \n \nTaxes Levied \n$255,663 208,971 184,448 183,405 172,362 164,443 162,660 156,064 153,427 142,903 \n \n2019 1 \nRank \n1 2 3 4 5 6 7 8 9 10 \n \nPercentage of \nTotal Tax Levy 2 \n0.80% 0.71% \n0.66% \n0.62% \n0.59% 0.55% \n \n$1,528,683 \n \n3.12% \n \nTaxes Levied \n$153,972 $423,686 \n127,039 \n160,281 \n164,570 \n271,785 136,652 119,654 115,961 110,681 \n$1,630,309 \n \n2010 \n \nRank \n \nPercentage \nof \nTotal Tax Levy 3 \n \n5 \n \n1 \n \n1.51% \n \n0.00% \n \n7 \n \n4 \n \n0.57% \n \n3 \n \n0.59% \n \n0.00% \n \n2 \n \n0.97% \n \n6 \n \n0.49% \n \n8 \n \n0.43% \n \n9 \n \n0.41% \n \n10 \n \n0.40% \n \n3.87% \n \n1 Represents calendar year 2018 assessed values before bond and maintenance and operation exemptions 2 Calendar year 2018 total tax levy was $26,122,303 3 Calendar year 2009 total tax levy was $27,993,452 \nSource: Spalding County Tax Commissioner \n \n-92- \n \n Griffin-Spalding County School System Property Tax Levies and Collections, Last Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year \n \nTaxes Levied for the \nFiscal Year \n \nCollected within the Fiscal Year of the Levy \n \nAmount \n \nPercentage of Levy \n \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \n27,993,452 27,501,268 26,900,111 26,669,211 26,921,348 25,973,264 25,353,871 25,898,024 25,865,382 26,122,303 \n \n25,873,304 25,073,703 25,098,857 24,609,215 24,300,171 23,590,360 23,599,123 24,228,304 24,521,853 24,166,699 \n \n92.43% 91.17% 93.30% 92.28% 90.26% 90.83% 93.08% 93.55% 94.81% 92.51% \n \nSource: Spalding County Tax Commissioner \n \nCollections in Subsequent \nYears \n1,558,275 1,473,522 1,469,476 1,515,491 1,323,931 1,105,894 \n891,832 847,310 611,430 \n \nTotal Collections to Date \n \nAmount \n \nPercentage of Levy \n \n27,431,579 26,547,225 26,568,333 26,124,706 25,624,102 24,696,254 24,490,955 25,075,614 25,133,283 24,166,699 \n \n97.99% 96.53% 98.77% 97.96% 95.18% 95.08% 96.60% 96.82% 97.17% 92.51% \n \n-93- \n \n -94- \n \nGross Tax Digest Components \n1,750,000,000 1,700,000,000 1,650,000,000 1,600,000,000 1,550,000,000 1,500,000,000 1,450,000,000 1,400,000,000 1,350,000,000 1,300,000,000 1,250,000,000 \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Calendar Year \n \nMobile Homes \nMotor Vehicles \nPublic Utilities \nReal \u0026 Personal Property \n \n Griffin-Spalding County School System Ratio of Annual Debt Service to Total \nGovernmental Fund Expenditures Last Ten Fiscal Years \n \nYear Ended June 30 \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \nPrincipal \n \nInterest \n \n298,515 4,687,021 4,866,084 4,928,832 \n0 0 0 0 0 1,770,000 \n \n644,738 535,173 337,402 123,280 \n0 0 446,083 614,127 614,127 591,501 \n \nTotal Debt Service \n \nTotal Governmental \nFund Expenditures \n \nRatio of Debt Service to \nGovernmental Fund \nExpenditures \n \n943,253 5,222,194 5,203,486 5,052,112 \n0 0 446,083 614,127 614,127 2,361,501 \n \n107,266,317 109,908,542 110,830,635 106,642,058 104,639,250 111,976,964 116,348,828 124,520,551 121,190,764 125,932,961 \n \n0.88% 4.75% 4.69% 4.74% 0.00% 0.00% 0.38% 0.49% 0.51% 1.88% \n \n-95- \n \n Griffin-Spalding County School System Ratio of Net Bonded Debt to Estimated Actual Value \nand General Bonded Debt Per Capita Last Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year Ended \nJune 30 \n \nEstimated Population1 \n \nEstimated Actual Value \n \nGeneral Bonded \nDebt \n \nLess Debt Service Funds \n \nNet Bonded Debt \n \nRatio of Net Bonded Debt to Estimated Actual Value \n \nNet Bonded Debt \nPer Capita \n \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \n64,098 64,087 64,032 63,682 63,509 63,694 63,826 64,570 65,403 66,100 \n \n4,255,888,955 4,198,808,990 4,145,165,618 4,045,608,555 4,014,591,965 3,926,094,880 4,002,724,058 4,093,774,475 4,135,598,785 4,219,122,043 \n \n14,122,838 9,573,243 4,853,649 0 0 0 \n14,806,760 14,468,699 14,130,638 12,022,577 \n \n8,092,803 3,832,266 4,954,100 \n605 0 0 \n283,916 369,032 517,219 458,704 \n \n6,030,035 5,740,977 -100,451 \n-605 0 0 \n14,522,844 14,099,667 13,613,419 11,563,873 \n \n0.14% 0.14% 0.00% 0.00% 0.00% 0.00% 0.36% 0.34% 0.33% 0.27% \n \n94.08 89.58 (1.57) (0.01) \n227.54 218.36 208.15 174.95 \n \n-96- \n \n Griffin-Spalding County School System Direct and Overlapping Governmental Activities Debt \nAs of June 30, 2019 \n \nUNAUDITED \n \nGovernmental Unit \nDebt repaid with property taxes: Spalding County: General obligation bonds Certificates of participation Capital leases Intergovernmental Contracts City of Griffin: General obligation bonds Capital leases Intergovernmental Contracts \nSub-total, overlapping debt \n \nDirect: \n \nGriffin-Spalding County School System: General obligation bonds \nSub-total, direct debt \nTotal, overlapping and direct debt \n \nDebt Outstanding \n \nPercentage Applicable \n \nShare of Overlapping Debt \n \n$8,800,000 2,500,000 \n817,857 3,052,500 \n8,452,026 402,964 \n3,052,500 \n$27,077,847 \n \n100% \n \n$27,077,847 \n \n12,022,577 $12,022,577 \n \n100% \n \n$12,022,577 $39,100,424 \n \nNotes: In addition to the System's debt obligations, property owners in the System are responsible for certain debt obligations of other taxing entities in the proportion to which the jurisdiction of the System overlaps such entities. Set forth below is the estimated overlapping general obligation debt and estimated overlapping property tax supported or guaranteed revenue debt of the System as of June 30, 2019. The percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable percentages were estimated by determining the portion of the municipality/authority's taxable assessed value that is within the School System's boundaries and dividing it by the municipality/authority's total taxable assessed value. Although the System has attempted to obtain accurate information as to the outstanding overlapping debt, it does not warrant its completeness or accuracy, as there is no central reporting entity which has this information available, and the amounts are based on information supplied by others. \nSource: Spalding County, GA and City of Griffin, GA \n \n-97- \n \n Griffin-Spalding County School System Outstanding Debt, By Type Last Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year Ended June 30, \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \nGovernmental Activities \n \nGeneral \n \nCapital \n \nObligation \n \nLease \n \nBonds \n \nObligations \n \n14,122,838 9,573,243 4,853,649 0 0 0 \n14,806,760 14,468,699 14,130,638 12,022,577 \n \n780,457 481,943 289,922 \n88,838 0 0 0 0 0 0 \n \nTotal Primary Government \n14,903,295 10,055,186 \n5,143,571 88,838 0 0 \n14,806,760 14,468,699 14,130,638 12,022,577 \n \nPercentage of Personal \nIncome1 \n0.87% 0.57% 0.28% 0.00% 0.00% 0.00% 0.73% 0.68% 0.64% 0.54% \n \nPer Capita1 \n232.37 156.95 \n80.34 1.40 0.00 0.00 \n231.98 224.14 216.13 181.88 \n \nNote: Details regarding the System's outstanding debt can be found in the notes to the financial statements. \n1See the Schedule of Demographic and Economic Statistics for personal income and population data. The Bureau of Economic Analysis revised estimates for years 2010-2017 in March 2018. \n \n-98- \n \n Griffin-Spalding County School System Legal Debt Margin \nLast Ten Fiscal Years \n \nUNAUDITED \n \nAssessed Value of Taxable Property \nDebt Limit (10% of Assessed Value) \nAmount of Debt Applicable To Debt Limit \nLegal Debt Margin \nLegal Debt Margin/ Limit Ratio \n \n2010 $1,545,175,117 \n \n2011 \n \n2012 \n \n2013 \n \n$1,524,221,716 $1,510,756,185 $1,468,277,457 \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n$1,485,370,982 $1,439,909,842 $1,464,016,196 $1,505,299,855 $1,529,111,811 $1,560,425,685 \n \n$154,517,512 \n \n$152,422,172 \n \n$151,075,619 \n \n$146,827,746 \n \n$148,537,098 \n \n$143,990,984 \n \n$146,401,620 \n \n$150,529,986 \n \n$152,911,181 \n \n$156,042,569 \n \n14,122,838 $140,394,674 \n \n9,573,243 $142,848,929 \n \n4,853,649 $146,221,970 \n \n0 $146,827,746 \n \n0 $148,537,098 \n \n0 $143,990,984 \n \n14,806,760 $131,594,860 \n \n14,468,699 $136,061,287 \n \n14,130,638 $138,780,543 \n \n12,022,577 $144,019,992 \n \n90.86% \n \n93.72% \n \n96.79% \n \n100.00% \n \n100.00% \n \n100.00% \n \n89.89% \n \n90.39% \n \n90.76% \n \n92.30% \n \n-99- \n \nNotes: The Constitution of the State of Georgia provides that the System may not incur long-term obligations payable out of general property taxes without the approval of a majority of the qualified voters of the System voting at an election called to approve the obligations. In addition, under the Constitution of the State of Georgia, the System may not incur long-term obligations payable out of general property taxes in excess of 10 percent of the assessed vaule of all taxable property within the System. \nSource: Spalding County Tax Commissioner \n \n Griffin-Spalding County School System Demographics - Population Latest Census Data \n \nUNAUDITED \n \nPopulation \nPopulation, 2017 est. Population, 2010 Population, percent change, 2010 to 2018 Population, 2000 Population, percent change, 2000 to 2010 Population, percent change, 1990 to 2000 Persons under 5 years old, percent, 2018 Persons under 18 years old, percent, 2018 Persons 65 years old and over, percent, 2018 Female persons, percent, 2018 \nWhite persons, percent, 2018 (a) Black or African American persons, percent, 2018 (a) American Indian and Alaska Native persons, percent, 2018 (a) Asian persons, percent, 2018 (a) Native Hawaiian and Other Pacific Islander, percent, 2018 (a) Persons reporting two or more races, percent, 2018 White persons, not of Hispanic/Latino origin, percent, 2018 Persons of Hispanic or Latino origin, percent, 2018 (b) \nLiving in same house 1 year \u0026 over, 2013-2017 Language other than English spoken at home, pct age 5+, 2013-2017 High school graduates, percent of persons age 25+, 2013-2017 Bachelor's degree or higher, pct of persons age 25+, 2013-2017 Veterans, 2013-2017 Foreign born persons, percent, 2013-2017 Mean travel time to work (minutes), workers age 16+, 2013-2017 \n \nSpalding County \n66,100 64,073 3.10% 58,417 9.7% 7.3% 6.3% 23.5% 17.9% 52.0% \n61.9% 34.6% 0.5% 1.1% 0.1% 1.9% 58.1% 4.7% \n90.1% 4.0% 80.6% 16.2% 4,426 3.2% 29.0 \n \n-100- \n \n UNAUDITED \n \nGriffin-Spalding County School System Demographics - Housing, Business \u0026 Industry, and Geography \nLatest Census Data (Continued) \n \nHousing \nHousing units, 2018 Homeownership rate, 2013-2017 Median value of owner-occupied housing units, 2013-2017 \nHouseholds, 2013-2017 Persons per household, 2013-2017 Median household income, 2013-2017 Persons below poverty, percent, 2013-2017 Building permits, 2018 \nBusiness \u0026 Industry \nUnemployment rate, 2018 Annual Average Nonemployer establishments, 2017 Manufacturers shipments, 2012 ($1000) Retail sales, 2012 ($1000) Retail sales per capita, 2012 Women-owned firms, percent of total, 2012 \n \n27,580 61.4% $112,400 \n23,475 2.68 $42,398 19.9% 274 \n4.7% 5,025 2,404,744 638,821 $10,003 40.0% \n \nGeography \nLand area, 2010 (square miles) Persons per square mile, 2010 FIPS Code Metropolitan or Micropolitan Statistical Area \n(a) Includes persons reporting only one race. (b) Hispanics may be of any race, so also are included in applicable race categories. Z: Value greater than zero but less than half unit of measure shown \nSource: US Census Bureau State \u0026 County QuickFacts Source: Griffin-Spalding Chamber of Commerce Source: Bureau of Labor Statistics \n \n196.47 326.1 255 Atlanta, GA Metro Area \n \n-101- \n \n Griffin-Spalding County School System Demographics - Income Statistics Latest Three Years Available \n \nUNAUDITED \n \nIncome \nPersonal income ($000) Net earnings Personal current transfer receipts Income maintenance Unemployment insurance compensation Retirement and other Dividends, interest, and rent \nPopulation (persons)1 Per capita personal income Per capita net earnings Per capita personal current transfer receipts Per capita income maintenance Per capita unemployment insurance benefits Per capita retirement and other Per capita dividends, interest, and rent \n \n2015 $2,041,383 1,095,401 \n621,722 84,488 3,329 \n533,905 324,260 \n \n2016 $2,129,814 1,149,240 \n645,411 87,291 2,685 \n555,435 335,163 \n \n2017 $2,208,980 1,190,513 \n668,547 87,265 2,393 578,889 \n349,920 \n \n63,828 31,983 17,162 9,741 1,324 \n52 8,365 5,080 \n \n64,553 32,993 17,803 9,998 1,352 \n42 8,604 5,192 \n \n65,380 33,787 18,209 10,226 1,335 \n37 8,854 5,352 \n \nEarnings by place of work ($000) Wage and salary disbursements Supplements to wages and salaries Employer contributions for employee pension and insurance funds Employer contributions for government social insurance Proprietors' income Nonfarm proprietors' income Farm proprietors' income \n \n1,189,733 842,339 242,657 182,483 60,174 104,737 106,746 -2,009 \n \n1,201,307 858,609 245,882 185,508 60,374 96,816 99,314 -2,498 \n \n1,244,231 901,338 257,037 194,209 62,828 85,856 88,548 -2,692 \n \nTotal full-time and part-time employment Wage and salary jobs Number of proprietors \nNumber of nonfarm proprietors Number of farm proprietors \n \n31,278 23,781 \n7,497 7,282 \n215 \n \n31,846 24,425 \n7,421 7,204 \n217 \n \n32,135 24,616 \n7,519 7,305 \n214 \n \nAverage earnings per job (dollars) Average wage and salary disbursements Average nonfarm proprietors' income \n1 Census Bureau midyear population estimates. \n \n38,037 35,421 14,659 \n \n37,722 35,153 13,786 \n \n38,719 36,616 12,122 \n \nSource: Regional Economic Information System, Bureau of Economic Analysis, U.S. Department of Commerce - Table CA30 The Bureau of Economic Analysis revised estimates for years 2010-2017 in November 2018. The amounts reflected in this table are the revised numbers. The figures provided are the latest available. \n \n-102- \n \n Griffin-Spalding County School System Demographic and Economic Statistics \nLast Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \nPopulation1 \n64,135 64,066 64,021 63,680 63,505 63,695 63,828 64,553 65,380 66,100 \n \nPersonal Income1 \n1,714,697 1,750,789 1,865,725 1,859,395 1,869,815 1,949,818 2,041,383 2,129,814 2,208,980 \nN/A \n \nPer Capita Personal Income1 \n26,736 27,328 29,142 29,199 29,444 30,612 31,983 32,993 33,787 \nN/A \n \nSchool Enrollment2 \n10,860 10,685 10,614 10,582 10,626 10,474 10,261 10,305 10,383 10,353 \n \nUnemployment Rate3 \n8.50% 13.00% 12.80% 11.30% 10.70% \n9.50% 7.80% 6.00% 5.80% 4.70% \n \n-103- \n \nData Sources: 1 Bureau of Economic Analysis: Regional Economic Accounts and U.S. Census Bureau (mid year estimates) 2 Spalding County Board of Education 3 U.S. Bureau of Labor Statistics \n \n Griffin-Spalding County School System Principal Employers \nCurrent Year and Nine Years Ago \n \nUNAUDITED \n \nEmployer \nGriffin-Spalding County School System Caterpillar, Inc. Wellstar Spalding Regional Medical Southern Crescent Technical College Spalding County CareMaster Medical City of Griffin University of Georgia Griffin Campus Norcom 1888 Mills/Southern Terry AEP Industries, Inc. \n \nIndustry \nEducation Automotive generators Healthcare Education Government Home Nursing Government Agricultural research School supplies Terry cloth towels Packaging film \n \nEmployees \n1,483 900 900 640 601 600 451 405 280 278 \n \n2019 \nRank \n1 2 3 4 5 6 7 8 9 10 \n \nPercentage of Total County Employment \n6.64 % 4.03 4.03 2.87 2.69 2.69 2.02 1.81 1.25 1.24 \n \n6,538 \n \n29.27 % \n \nEmployees \n1,576 900 900 360 536 \n478 405 280 375 250 \n6,060 \n \n2010 \nRank \n1 2 3 7 4 \n5 8 9 6 10 \n \nPercentage of Total County Employment \n7.69 % 4.39 4.39 1.76 2.62 \n2.33 1.98 \n1.83 1.22 \n29.57 % \n \n-104- \n \nSource: Griffin-Spalding Development Authority \n \n -105- \n \nClassroom Teachers Media Specialists,Counselors \nPsychologists, and Social Worker Administrators and Supervisors Professional/Technical Support Paraprofessionals, Clerical, Other Maintenance, Transportation, Custodians, \nand School Food Service \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System Employees of the District Last Ten Fiscal Years \n \nUNAUDITED \n \n2010 749 \n52 64 51 316 \n376 1,608 \n \n2011 749 \n50 64 51 310 \n352 1,576 \n \n2012 717 \n53 62 51 270 \n359 1,512 \n \n2013 673 \n49 55 51 277 \n350 1,455 \n \n2014 657 \n51 55 43 268 \n345 1,419 \n \n2015 674 \n51 60 57 255 \n360 1,457 \n \n2016 658 \n51 65 53 277 \n351 1,455 \n \n2017 676 \n53 66 53 295 \n355 1,498 \n \n2018 674 \n54 75 52 293 \n340 1,488 \n \n2019 686 \n55 76 49 292 \n325 1,483 \n \n Griffin-Spalding County School System General Fund Operating Statistics, Pupil/Teacher Ratio \nLast Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year \n \nExpenses Enrollment \n \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \n77,701,816 76,877,306 75,770,980 73,537,657 78,467,423 80,290,395 81,428,072 86,043,775 90,702,181 93,374,983 \n \n10,860 10,685 10,614 10,582 10,626 10,474 10,261 10,305 10,383 10,353 \n \nSource: Griffin-Spalding County School System \n \nCost Per Pupil \n7,155 7,195 7,139 6,949 7,384 7,666 7,936 8,350 8,736 9,019 \n \nPercentage Change \n(5.84%) 0.56% (.78%) (2.65%) 6.26% 3.81% 3.52% 5.22% 4.62% 3.25% \n \nTeaching Staff \n749 749 717 673 657 674 658 676 674 686 \n \nPupil/ Teacher \nRatio \n14.50 14.27 14.80 15.72 16.17 15.54 15.59 15.24 15.41 15.09 \n \nStudent Attendance Percentage \n95.50 96.38 95.39 97.46 95.36 95.64 97.49 96.49 96.13 96.38 \n \n-106- \n \n -107- \n \nAnne Street Elementary (1948) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nAtkinson Elementary (1964) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nBeaverbrook Elementary (1964) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCowan Road Elementary (1991) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCrescent Elementary (1955) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System School Building Information Last Ten Fiscal Years \n \nUNAUDITED \n \n2010 \n \n2011 \n \n2012 \n \n2013 \n \nFiscal Year \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n40,113 450 442 \n98.2% \n \n40,113 450 428 \n95.1% \n \n40,113 450 458 \n101.8% \n \n40,113 450 447 \n99.3% \n \n40,113 450 487 \n108.2% \n \n40,113 450 453 \n100.7% \n \n40,113 450 428 \n95.1% \n \n40,113 450 427 \n94.9% \n \n40,113 450 429 \n95.3% \n \n40,113 450 410 \n91.1% \n \n53,936 450 446 \n99.1% \n \n53,936 450 459 \n102.0% \n \n53,936 450 465 \n103.3% \n \n53,936 450 448 \n99.6% \n \n53,936 450 427 \n94.9% \n \n53,936 450 457 \n101.6% \n \n53,936 450 450 \n100.0% \n \n53,936 450 448 \n99.6% \n \n53,936 450 468 \n104.0% \n \n53,936 450 466 \n103.6% \n \n55,222 450 458 \n101.8% \n \n55,222 450 466 \n103.6% \n \n55,222 450 426 \n94.7% \n \n55,222 450 429 \n95.3% \n \n55,222 450 464 \n103.1% \n \n55,222 450 431 \n95.8% \n \n55,222 450 371 \n82.4% \n \n55,222 450 347 \n77.1% \n \n55,222 450 356 \n79.1% \n \n55,222 450 363 \n80.7% \n \n76,986 650 663 \n102.0% \n \n76,986 650 663 \n102.0% \n \n76,986 650 584 \n89.8% \n \n76,986 650 627 \n96.5% \n \n76,986 650 631 \n97.1% \n \n76,986 650 633 \n97.4% \n \n76,986 650 616 \n94.8% \n \n76,986 650 686 \n105.5% \n \n76,986 650 643 \n98.9% \n \n76,986 650 573 \n88.2% \n \n48,696 450 404 \n89.8% \n \n48,696 450 424 \n94.2% \n \n48,696 450 415 \n92.2% \n \n48,696 450 441 \n98.0% \n \n48,696 450 442 \n98.2% \n \n48,696 450 465 \n103.3% \n \n48,696 450 423 \n94.0% \n \n48,696 450 419 \n93.1% \n \n48,696 450 426 \n94.7% \n \n48,696 450 430 \n95.6% \n \n -108- \n \nFutral Road Elementary (1998) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nJackson Road Elementary (1970) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nJordan Hill Elementary (1994) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nMoore Elementary (1950) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nMoreland Road Elementary (2006) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System School Building Information \nLast Ten Fiscal Years (Continued) \n \n2010 \n \n2011 \n \n2012 \n \n2013 \n \nFiscal Year \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n67,000 525 708 \n134.9% \n \n67,000 525 695 \n132.4% \n \n67,000 525 725 \n138.1% \n \n67,000 525 635 \n121.0% \n \n67,000 525 644 \n122.7% \n \n67,000 525 648 \n123.4% \n \n78,760 650 616 \n94.8% \n \n78,760 650 628 \n96.6% \n \n78,760 650 629 \n96.8% \n \n78,760 650 659 \n101.4% \n \n58,729 450 507 \n112.7% \n \n58,729 450 474 \n105.3% \n \n58,729 450 464 \n103.1% \n \n58,729 450 456 \n101.3% \n \n58,729 450 467 \n103.8% \n \n58,729 450 438 \n97.3% \n \n66,121 525 423 \n80.6% \n \n66,121 525 408 \n77.7% \n \n66,121 525 415 \n79.0% \n \n66,121 525 422 \n80.4% \n \n76,986 650 480 \n73.8% \n \n76,986 650 446 \n68.6% \n \n76,986 650 442 \n68.0% \n \n76,986 650 455 \n70.0% \n \n76,986 650 470 \n72.3% \n \n76,986 650 481 \n74.0% \n \n76,986 650 487 \n74.9% \n \n76,986 650 453 \n69.7% \n \n76,986 650 426 \n65.5% \n \n76,986 650 447 \n68.8% \n \n47,190 450 395 \n87.8% \n \n47,190 450 363 \n80.7% \n \n47,190 450 354 \n78.7% \n \n47,190 450 375 \n83.3% \n \n47,190 450 367 \n81.6% \n \n47,190 450 367 \n81.6% \n \n47,190 450 367 \n81.6% \n \n47,190 450 405 \n90.0% \n \n47,190 450 398 \n88.4% \n \n47,190 450 392 \n87.1% \n \n67,852 550 537 \n97.6% \n \n67,852 550 558 \n101.5% \n \n67,852 550 558 \n101.5% \n \n67,852 550 560 \n101.8% \n \n67,852 550 541 \n98.4% \n \n67,852 550 515 \n93.6% \n \n67,852 550 546 \n99.3% \n \n67,852 550 556 \n101.1% \n \n67,852 550 556 \n101.1% \n \n67,852 550 523 \n95.1% \n \n -109- \n \nOrrs Elementary (1962) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCowan Road Middle School (2000) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCarver Road Middle School (2007) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nKennedy Road Middle School (2006) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nRehoboth Road Middle School (2009) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System School Building Information \nLast Ten Fiscal Years (Continued) \n \n2010 \n \n2011 \n \n2012 \n \n2013 \n \nFiscal Year \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n63,117 675 638 \n94.5% \n \n63,117 675 637 \n94.4% \n \n63,117 675 647 \n95.9% \n \n63,117 675 664 \n98.4% \n \n63,117 675 661 \n97.9% \n \n63,117 675 623 \n92.3% \n \n63,117 675 598 \n88.6% \n \n63,117 675 595 \n88.1% \n \n63,117 675 613 \n90.8% \n \n63,117 675 580 \n85.9% \n \n96,500 685 564 \n82.3% \n \n96,500 685 568 \n82.9% \n \n96,500 685 600 \n87.6% \n \n96,500 685 612 \n89.3% \n \n96,500 685 598 \n87.3% \n \n96,500 685 594 \n86.7% \n \n99,529 685 567 \n82.8% \n \n99,529 685 551 \n80.4% \n \n99,529 685 643 \n93.9% \n \n99,529 685 643 \n93.9% \n \n104,024 725 492 \n67.9% \n \n104,024 725 475 \n65.5% \n \n104,024 725 544 \n75.0% \n \n104,024 725 482 \n66.5% \n \n104,024 725 523 \n72.1% \n \n104,024 725 504 \n69.5% \n \n104,024 725 523 \n72.1% \n \n104,024 725 482 \n66.5% \n \n104,024 725 488 \n67.3% \n \n104,024 725 488 \n67.3% \n \n104,024 725 564 \n77.8% \n \n104,024 725 564 \n77.8% \n \n104,024 725 546 \n75.3% \n \n104,024 725 532 \n73.4% \n \n104,024 725 505 \n69.7% \n \n104,024 725 481 \n66.3% \n \n104,024 725 466 \n64.3% \n \n104,024 725 483 \n66.6% \n \n104,024 725 459 \n63.3% \n \n104,024 725 489 \n67.4% \n \n104,024 725 638 \n88.0% \n \n104,024 725 703 \n97.0% \n \n104,024 725 715 \n98.6% \n \n104,024 725 726 \n100.1% \n \n104,024 725 725 \n100.0% \n \n104,024 725 672 \n92.7% \n \n104,024 725 663 \n91.4% \n \n104,024 725 644 \n88.8% \n \n104,024 725 698 \n96.3% \n \n104,024 725 679 \n93.7% \n \n Griffin-Spalding County School System School Building Information \nLast Ten Fiscal Years (Continued) \n \n-110- \n \n2010 \n \nA.Z. Kelsey Academy (2007) Square Feet Capacity (students) Enrollment Percentage of Capacity used \n \n71,403 625 112 \n17.9% \n \nGriffin High School (1986) Square Feet Capacity (students) Enrollment Percentage of Capacity used \n \n309,989 1,950 1,437 73.7% \n \nSpalding High School (2000) Square Feet Capacity (students) Enrollment Percentage of Capacity used \n \n205,904 1,600 1,375 85.9% \n \nCentral Administration Complex (1970) Square Feet \nCentral Warehouse (2003) Square Feet \nTransportation Garage/Warehouse (1964) Square Feet \nGriffin Region College and Career Academy (2017) Square Feet \nOther Special Purpose Instructional Facilities Square Feet \n \n11,051 47,400 11,600 \n80,729 \n \n2011 \n71,403 625 104 \n16.6% \n309,989 1,950 1,372 70.4% \n205,904 1,600 1,286 80.4% \n11,051 \n47,400 \n11,600 \n80,729 \n \n2012 \n71,403 625 119 \n19.0% \n309,989 1,950 1,304 66.9% \n205,904 1,600 1,248 78.0% \n11,051 \n47,400 \n11,600 \n80,729 \n \n2013 \n71,403 625 90 \n14.4% \n309,989 1,950 1,342 68.8% \n205,904 1,600 1,261 78.8% \n11,051 \n47,400 \n11,600 \n80,729 \n \nFiscal Year \n \n2014 \n \n2015 \n \n71,403 625 80 \n12.8% \n \n71,403 625 59 \n9.4% \n \n309,989 1,950 1,356 69.5% \n \n309,989 1,950 1,419 72.8% \n \n205,904 1,600 1,238 77.4% \n \n205,904 1,600 1,234 77.1% \n \n11,051 47,400 11,600 \n \n11,051 47,400 11,600 \n \n80,729 80,729 \n \n2016 \n71,403 625 60 \n9.6% \n309,989 1,950 1,395 71.5% \n205,904 1,600 1,262 78.9% \n11,051 \n47,400 \n11,600 \n80,729 \n \n2017 \n71,403 625 57 \n9.1% \n309,989 1,950 1,422 72.9% \n205,904 1,600 1,294 80.9% \n11,051 \n47,400 \n11,600 \n80,729 \n \n2018 \n71,403 625 46 \n7.4% \n309,989 1,950 1,434 73.5% \n205,904 1,600 1,324 82.8% \n11,051 \n47,400 \n11,600 \n70,350 \n80,729 \n \n2019 \n71,403 625 36 \n5.8% \n309,989 1,950 1,436 73.6% \n205,904 1,600 1,340 83.8% \n11,051 \n47,400 \n11,600 \n70,350 \n80,729 \n \nSource: Griffin-Spalding County School System \n \n Griffin-Spalding County School System Enrollment Statistics Last Ten Fiscal Years \n \n12000 \n \nActive Enrollment by Grade Level \n \n10000 \n \n8000 \n \n6000 \n \n4000 \n \n2000 \n \n0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \nGrade 12 Grade 11 Grade 10 Grade 9 Grade 8 Grade 7 Grade 6 Grade 5 Grade 4 Grade 3 Grade 2 Grade 1 Kindergarten Pre- Kindergarten 1 \n \nUNAUDITED \n \n-111- \n \nFiscal \n \nPre- \n \nGrade \n \nYear Kindergarten 1 Kindergarten \n \n1 \n \n2010 \n \n441 \n \n2011 \n \n443 \n \n2012 \n \n443 \n \n2013 \n \n478 \n \n2014 \n \n495 \n \n2015 \n \n510 \n \n2016 \n \n508 \n \n2017 \n \n513 \n \n2018 \n \n511 \n \n2019 \n \n506 \n \n940 \n \n856 \n \n920 \n \n894 \n \n865 \n \n911 \n \n894 \n \n851 \n \n898 \n \n889 \n \n822 \n \n880 \n \n777 \n \n818 \n \n827 \n \n809 \n \n759 \n \n852 \n \n778 \n \n787 \n \nGrade 2 \n873 823 862 870 848 843 849 810 778 832 \n \nGrade 3 \n871 839 810 852 856 820 798 832 820 751 \n \nGrade 4 \n878 834 814 797 837 830 794 806 810 807 \n \nGrade 5 \n819 860 833 795 778 806 781 775 829 804 \n \nGrade 6 \n810 765 839 796 764 709 766 754 745 792 \n \nGrade 7 \n783 783 753 805 796 777 695 719 740 742 \n \nGrade 8 \n665 762 813 751 791 765 758 687 735 742 \n \nGrade 9 \n956 823 911 961 854 1,004 1,016 922 813 899 \n \nGrade 10 \n748 711 630 655 701 615 645 748 734 619 \n \nGrade 11 \n652 656 625 562 619 589 566 600 694 671 \n \nGrade 12 \n568 572 505 515 500 504 490 503 563 623 \n \nTotal \n10,860 10,685 10,614 10,582 10,626 10,474 10,261 10,305 10,383 10,353 \n \nSpec. Ed. 2 \n1,126 1,052 993 990 969 1,019 1,086 1,132 1,186 1,272 \n \n1Griffin-Spalding County School System established the Pre-Kindergarten in FY1998 using proceeds from the state lottery. 2 The System includes Special Education students in the appropriate grade level. The \"Spec. Ed\" column reflects the total number of Special Education sutdents by year for comparative purposes only. \nSource: Griffin-Spalding County School System \n \n Griffin-Spalding County School System Expenditures by Function, Last Ten Fiscal Years \nGeneral Fund \n \n-112- \n \nInstruction Pupil Services Improvement of Instructional Services Educational Media Services General and School Administration Business Administration Maintenance and Operations of Plant Student Transportation Services Central Support Services Other Support Services Food Service Operations Community Services Operations Capital Outlay Debt Service \n \n2010 \n \n2011 \n \n2012 \n \n2013 \n \nFiscal Year \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \nPercentage Change 1 \n \n$50,747,372 1,218,061 1,743,197 1,894,322 7,430,511 421,419 8,566,760 3,211,466 1,137,619 715,919 0 152,963 127,629 334,578 \n \n$50,219,269 1,323,470 1,719,713 1,845,301 7,555,194 330,052 7,966,957 3,420,009 1,104,120 899,754 0 149,722 129,707 214,038 \n \n$49,373,663 1,323,090 1,432,357 1,656,079 7,563,984 335,644 7,726,705 4,092,737 1,139,419 743,246 0 132,624 37,394 214,038 \n \n$47,622,661 1,283,338 1,295,508 1,440,932 7,107,099 348,784 7,884,361 4,166,042 1,219,241 888,483 0 126,811 59,560 94,837 \n \n$49,529,410 1,522,381 1,333,860 1,483,960 7,367,102 386,548 8,720,795 5,322,915 1,456,213 962,370 69,278 128,120 184,471 0 \n \n$50,596,029 1,554,866 2,106,853 1,525,756 7,759,713 384,124 8,124,266 5,275,107 1,593,158 1,079,136 64,269 134,392 92,726 0 \n \n$50,941,065 1,658,493 2,469,760 1,528,079 8,460,692 417,103 8,147,720 4,648,579 1,859,430 965,678 61,934 159,403 110,136 0 \n \n$54,070,635 1,853,844 3,072,620 1,558,477 9,178,934 433,398 8,114,700 4,834,754 1,771,879 919,821 66,243 145,962 22,509 0 \n \n$56,699,614 1,949,092 3,857,445 1,610,344 9,930,839 436,233 8,188,722 4,927,811 1,976,865 842,114 70,697 212,405 0 0 \n \n$57,866,372 2,130,706 4,122,176 1,668,656 \n10,379,527 480,116 \n8,474,516 5,302,206 1,727,692 \n941,087 66,707 215,222 \n0 0 \n \n14.0% 74.9% 136.5% -11.9% 39.7% 13.9% -1.1% 65.1% 51.9% 31.5% 100.0% 40.7% -100.0% -100.0% \n \n$77,701,816 $76,877,306 $75,770,980 $73,537,657 $78,467,423 $80,290,395 $81,428,072 $86,043,776 $90,702,181 $93,374,983 \n \n20.2% \n \nInstruction Pupil Services Improvement of Instructional Services Educational Media Services General and School Administration Business Administration Maintenance and Operations of Plant Student Transportation Services Central Support Services Other Support Services Food Service Operations Community Services Operations Capital Outlay Debt Service \n \n2010 \n65.3% 1.6% 2.2% 2.4% 9.6% 0.5% 11.0% 4.1% 1.5% 0.9% 0.0% 0.2% 0.2% 0.4% \n100.0% \n \n2011 \n65.3% 1.7% 2.2% 2.4% 9.8% 0.4% 10.4% 4.4% 1.4% 1.2% 0.0% 0.2% 0.2% 0.3% \n100.0% \n \n2012 \n65.2% 1.7% 1.9% 2.2% 10.0% 0.4% 10.2% 5.4% 1.5% 1.0% 0.0% 0.2% 0.0% 0.3% \n100.0% \n \n2013 \n64.8% 1.7% 1.8% 2.0% 9.7% 0.5% 10.7% 5.7% 1.7% 1.2% 0.0% 0.2% 0.1% 0.1% \n100.0% \n \n2014 \n63.1% 1.9% 1.7% 1.9% 9.4% 0.5% 11.1% 6.8% 1.9% 1.2% 0.1% 0.2% 0.2% 0.0% \n100.0% \n \n2015 \n63.0% 1.9% 2.6% 1.9% 9.7% 0.5% 10.1% 6.6% 2.0% 1.3% 0.1% 0.2% 0.1% 0.0% \n100.0% \n \n2016 \n62.6% 2.0% 3.0% 1.9% 10.4% 0.5% 10.0% 5.7% 2.3% 1.2% 0.1% 0.2% 0.1% 0.0% \n100.0% \n \n2017 \n62.8% 2.2% 3.6% 1.8% 10.7% 0.5% 9.4% 5.6% 2.1% 1.1% 0.1% 0.2% 0.0% 0.0% \n100.0% \n \n2018 \n62.5% 2.1% 4.3% 1.8% 10.9% 0.5% 9.0% 5.4% 2.2% 0.9% 0.1% 0.2% 0.0% 0.0% \n100.0% \n \n2019 \n62.0% 2.3% 4.4% 1.8% 11.1% 0.5% 9.1% 5.7% 1.9% 1.0% 0.1% 0.2% 0.0% 0.0% \n100.0% \n \n1Percentage change computed by using the following formula: (2019 expenditure/2010 expenditure)-1 = percentage change \n \nSource: Griffin-Spalding County School System \n \n Griffin-Spalding County School System Per Pupil Expenditures by Function, Last Ten Fiscal Years \nGeneral Fund \n \nUNAUDITED \n \nInstruction Pupil Services Improvement of Instructional Services Educational Media Services General and School Administration Business Administration Maintenance and Operations of Plant Student Transportation Services Central Support Services Other Support Services Food Service Operations Community Services Operations Capital Outlay Debt Service \nTotal Expenditures 2 \nStudent Enrollment 3 \n \n2010 \n$4,672 112 160 174 684 39 789 296 105 66 0 14 12 0 \n$7,154 \n10,860 \n \n2011 \n$4,699 124 161 173 707 31 745 320 103 84 0 14 12 0 \n$7,193 \n10,685 \n \n2012 \n$4,652 125 135 156 713 32 728 386 107 70 0 12 4 20 \n$7,139 \n10,614 \n \n2013 \n$4,500 121 122 136 672 33 745 394 115 84 0 12 6 9 \n$6,949 \n10,582 \n \nFiscal Year \n \n2014 \n \n2015 \n \n$4,661 143 126 140 693 36 821 501 137 91 7 12 17 0 \n \n$4,831 148 201 146 741 37 776 504 152 103 6 13 9 0 \n \n$7,384 \n \n$7,666 \n \n10,626 \n \n10,474 \n \n2016 \n$4,965 162 241 149 825 41 794 453 181 94 6 16 11 0 \n$7,936 \n10,261 \n \n2017 \n$5,248 180 298 151 891 42 788 469 172 89 6 14 2 0 \n$8,351 \n10,305 \n \n2018 \n$5,461 188 372 155 956 42 789 475 190 81 7 20 0 0 \n$8,736 \n10,383 \n \n2019 \n \nPercentage Change 1 \n \n$5,589 206 398 161 \n1,003 46 \n819 512 167 \n91 6 \n21 0 0 \n \n19.6% 83.5% 148.1% -7.6% 46.5% 19.5% \n3.8% 73.2% 59.3% 37.9% 100.0% 47.6% -100.0% \n0.0% \n \n$9,019 \n \n26.1% \n \n10,353 \n \n-4.7% \n \n1Percentage change computed by using the following formula: \n(2019 revenue/2010 revenue)-1 = percentage change 2Expenditures restated on a per pupil basis by using the following formula: \nRevenue/current enrollment = per pupil revenue 3Student enrollment figures are taken from fall enrollment (October 1) reports. \n \n-113- \n \n Griffin-Spalding County School System Free and Reduced Lunch Last Ten Fiscal Years \n \n80.00% 75.00% 70.00% 65.00% 60.00% 55.00% 50.00% 45.00% 40.00% 35.00% 30.00% \n \nPercentage of Students Eligible for F\u0026R \n2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 \n \nUNAUDITED \n \nLunch Meals Served Free Reduced Paid \nTotal \n \n2010 \n \n2011 \n \n2012 \n \n2013 \n \nFiscal Year \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n2019 \n \n1,027,745 1,046,085 1,086,381 1,042,616 1,046,355 1,105,505 1,051,121 1,011,571 977,785 981,943 125,258 96,503 110,639 105,123 110,333 99,399 112,445 98,288 104,952 83,417 315,738 296,584 259,927 216,889 177,353 165,135 162,692 148,076 195,831 142,292 \n1,468,741 1,439,172 1,456,947 1,364,628 1,334,041 1,370,039 1,326,258 1,257,935 1,278,568 1,207,652 \n \nBreakfast Meals Served Free Reduced Paid \nTotal \n \n623,310 48,705 74,907 \n746,922 \n \n621,661 42,375 65,660 \n729,696 \n \n651,752 46,295 57,029 \n755,076 \n \n630,562 43,356 49,963 \n723,881 \n \n637,061 46,232 42,031 \n725,324 \n \n650,732 42,903 40,813 \n734,448 \n \n589,747 46,748 40,611 \n677,106 \n \n566,830 40,197 37,281 \n644,308 \n \n562,633 44,536 62,536 \n669,705 \n \n591,568 40,108 41,525 \n673,201 \n \nAdult \u0026 Non-reimbursable Paid - Breakfast Paid - Lunch Other - Breakfast Other - Lunch \nTotal \n \n7,247 39,590 16,965 38,435 102,237 \n \n5,804 36,228 21,200 49,010 112,242 \n \n7,892 42,557 17,096 41,424 108,969 \n \n2,631 29,805 15,655 35,826 83,917 \n \n1,913 23,767 15,493 35,744 76,917 \n \n1,766 25,273 16,113 38,267 81,419 \n \n1,596 27,493 14,969 35,414 79,472 \n \n3,402 27,775 13,204 30,158 74,539 \n \n2,096 20,957 15,888 32,043 70,984 \n \n2,190 17,493 13,738 28,432 61,853 \n \nTotal Meals Served Free Reduced Paid Other \n \n1,651,055 1,667,746 1,738,133 1,673,178 1,683,416 1,756,237 1,640,868 1,578,401 1,540,418 1,573,511 173,963 138,878 156,934 148,479 156,565 142,302 159,193 138,485 149,488 123,525 437,482 404,276 367,405 299,288 245,064 232,987 232,392 216,534 281,420 203,500 55,400 70,210 58,520 51,481 51,237 54,380 50,383 43,362 47,931 42,170 \n \nTotal \n \n2,317,900 2,281,110 2,320,992 2,172,426 2,136,282 2,185,906 2,082,836 1,976,782 2,019,257 1,942,706 \n \n% Eligible for Free and Reduced \n \n69.57% 70.73% 73.44% 74.46% 75.58% 76.56% 76.21% 75.34% 76.90% 73.97% \n \nSource: Griffin-Spalding County School System \n \n-114- \n \n Griffin-Spalding County School System Insurance Coverage \n \nUNAUDITED \n \nInsurance coverage of the System is summarized below. \n \nType \nProperty Boiler \u0026 Machinery Fidelity Bond Superintendent Bond \n \nAmount in Force \n$350,006,269 25,000,000 100,000 100,000 \n \nType \nGeneral Liability School Board Errors and Omissions Automobile Liability Excess Workers' Compensation \n \nLimits of Liability \n \nEach Occurance \n \nAggregate \n \n$1,000,000 1,000,000 1,000,000 Statutory \n \n$2,000,000 1,000,000 1,000,000 Statutory \n \nNotes: The System is partially self-insured for workers compensation claims through a self-insurance program that is periodically reviewed for actuarial soundess by an actuary. Refer to Note 8 and MD\u0026A of the System's financial statements for a discussion of the System's risk management program. The System requires payment and performance surety bonds and builders' risk insurance of all contractors and subcontractors involved in construction related to the System's facilities. \n \n-115- \n \n ,QGHSHQGHQW$XGLWRUV5HSRUWRQ,QWHUQDO\u0026RQWURORYHU)LQDQFLDO5HSRUWLQJDQGRQ \u0026RPSOLDQFHDQG2WKHU0DWWHUV%DVHGRQDQ$XGLWRI)LQDQFLDO6WDWHPHQWV 3HUIRUPHGLQ$FFRUGDQFHZLWK*RYHUQPHQW$XGLWLQJ6WDQGDUGV \n7KH%RDUGRI(GXFDWLRQ *ULIILQ6SDOGLQJ\u0026RXQW\\6FKRRO6\\VWHP *ULIILQ*HRUJLD \n:HKDYHDXGLWHGLQDFFRUGDQFHZLWKDXGLWLQJVWDQGDUGVJHQHUDOO\\DFFHSWHGLQWKH8QLWHG6WDWHVRI $PHULFDDQGWKHVWDQGDUGVDSSOLFDEOHWRILQDQFLDODXGLWVFRQWDLQHGLQ*RYHUQPHQW$XGLWLQJ6WDQGDUGV LVVXHGE\\WKH\u0026RPSWUROOHU*HQHUDORIWKH8QLWHG6WDWHVWKHILQDQFLDOVWDWHPHQWVRIWKHJRYHUQPHQWDO DFWLYLWLHVHDFKPDMRUIXQGDQGWKHDJJUHJDWHUHPDLQLQJIXQGLQIRUPDWLRQRI*ULIILQ6SDOGLQJ\u0026RXQW\\ 6FKRRO6\\VWHPDVRIDQGIRUWKH\\HDUHQGHG-XQHDQGWKHUHODWHGQRWHVWRWKHILQDQFLDO VWDWHPHQWVZKLFKFROOHFWLYHO\\FRPSULVH*ULIILQ6SDOGLQJ\u0026RXQW\\6FKRRO6\\VWHPVEDVLFILQDQFLDO VWDWHPHQWVDQGKDYHLVVXHGRXUUHSRUWWKHUHRQGDWHG2FWREHU \n,QWHUQDO\u0026RQWURORYHU)LQDQFLDO5HSRUWLQJ \n,QSODQQLQJDQGSHUIRUPLQJRXUDXGLWRIWKHILQDQFLDOVWDWHPHQWVZHFRQVLGHUHG*ULIILQ6SDOGLQJ \u0026RXQW\\6FKRRO6\\VWHPVLQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJLQWHUQDOFRQWURO WRGHWHUPLQHWKH DXGLWSURFHGXUHVWKDWDUHDSSURSULDWHLQWKHFLUFXPVWDQFHVIRUWKHSXUSRVHRIH[SUHVVLQJRXURSLQLRQV RQWKHILQDQFLDOVWDWHPHQWVEXWQRWIRUWKHSXUSRVHRIH[SUHVVLQJDQRSLQLRQRQWKHHIIHFWLYHQHVVRI *ULIILQ6SDOGLQJ\u0026RXQW\\6FKRRO6\\VWHPVLQWHUQDOFRQWURO$FFRUGLQJO\\ZHGRQRWH[SUHVVDQRSLQLRQ RQWKHHIIHFWLYHQHVVRI*ULIILQ6SDOGLQJ\u0026RXQW\\6FKRRO6\\VWHPVLQWHUQDOFRQWURO \n$GHILFLHQF\\LQLQWHUQDOFRQWUROH[LVWVZKHQWKHGHVLJQRURSHUDWLRQRIDFRQWUROGRHVQRWDOORZ PDQDJHPHQWRUHPSOR\\HHVLQWKHQRUPDOFRXUVHRISHUIRUPLQJWKHLUDVVLJQHGIXQFWLRQVWRSUHYHQWRU GHWHFWDQGFRUUHFWPLVVWDWHPHQWVRQDWLPHO\\EDVLV$PDWHULDOZHDNQHVVLVDGHILFLHQF\\RUD FRPELQDWLRQRIGHILFLHQFLHVLQLQWHUQDOFRQWUROVXFKWKDWWKHUHLVDUHDVRQDEOHSRVVLELOLW\\WKDWD PDWHULDOPLVVWDWHPHQWRIWKHJRYHUQPHQWVILQDQFLDOVWDWHPHQWVZLOOQRWEHSUHYHQWHGRUGHWHFWHGDQG FRUUHFWHGRQDWLPHO\\EDVLV$VLJQLILFDQWGHILFLHQF\\LVDGHILFLHQF\\RUDFRPELQDWLRQRIGHILFLHQFLHV LQLQWHUQDOFRQWUROWKDWLVOHVVVHYHUHWKDQDPDWHULDOZHDNQHVV\\HWLPSRUWDQWHQRXJKWRPHULWDWWHQWLRQ E\\WKRVHFKDUJHGZLWKJRYHUQDQFH \n2XUFRQVLGHUDWLRQRILQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJZDVIRUWKHOLPLWHGSXUSRVHGHVFULEHGLQ WKHILUVWSDUDJUDSKRIWKLVVHFWLRQDQGZDVQRWGHVLJQHGWRLGHQWLI\\DOOGHILFLHQFLHVLQLQWHUQDOFRQWURO RYHUILQDQFLDOUHSRUWLQJWKDWPLJKWEHPDWHULDOZHDNQHVVHVRUVLJQLILFDQWGHILFLHQFLHV*LYHQWKHVH OLPLWDWLRQVGXULQJRXUDXGLWZHGLGQRWLGHQWLI\\DQ\\GHILFLHQFLHVLQLQWHUQDOFRQWURORYHUILQDQFLDO UHSRUWLQJWKDWZHFRQVLGHUWREHPDWHULDOZHDNQHVVHV+RZHYHUPDWHULDOZHDNQHVVHVPD\\H[LVWWKDW KDYHQRWEHHQLGHQWLILHG \n5637 Whitesville Rd. P.O. 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County School System comprehensive annual financial report, fiscal year ended 2018 June 30","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body.","Griffin-Spalding County School System (Ga.). Finance Department."],"dcterms_spatial":["United States, Georgia, 32.75042, -83.50018"],"dcterms_creator":["Georgia. Department of Audits and Accounts","Griffin-Spalding County School System. Finance Department"],"dc_date":["2018-10-31"],"dcterms_description":["Financial report of the Griffin-Spalding County Board of Education."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Georgia. Department of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Griffin-Spalding County Board of Education (Ga.)--Appropriations and expenditures--Periodicals","Griffin-Spalding County School System--Appropriations and expenditures--Periodicals","Education--Georgia--Griffin--Auditing--Periodicals","Education--Georgia--Spalding County--Auditing--Periodicals","Education--Georgia--Griffin--Finance--Statistics--Periodicals","Education--Georgia--Spalding County--Finance--Statistics--Periodicals"],"dcterms_title":["Griffin-Spalding County School System comprehensive annual financial report, fiscal year ended 2018 June 30"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bg8-b2018-belec-p-btext"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bg8-b2018-belec-p-btext"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records","audits","financial records","financial statements"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"COMPREHENSIVE ANNUAL FINANCIAL REPORT GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM \nGRIFFIN, GEORGIA FISCAL YEAR ENDED JUNE 30, 2018 \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM \nComprehensive Annual Financial Report \nFiscal Year Ended June 30, 2018 \n216 South Sixth Street Griffin, Georgia 30224 \nPrepared by: Finance Department, Griffin-Spalding County School System \n \n TABLE OF CONTENTS \n \nINTRODUCTORY SECTION \n \nLETTER OF TRANSMITTAL ....................................................................................... Page i - viii \n \nGFOA CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE .............................. \n \nix \n \nASBO CERTIFICATE OF EXCELLENCE ..................................................................... \n \nx \n \nBOARD OF EDUCATION - FUNCTION AND COMPOSITION ................................. \n \nxi \n \nGRIFFIN-SPALDING COUNTY SCHOOL SYSTEM ADMINISTRATIVE STAFF... \n \nxii - xiii \n \nORGANIZATIONAL CHART ......................................................................................... \n \nxiv \n \nFINANCIAL SECTION \n \nINDEPENDENT AUDITOR'S REPORT.......................................................................... Page 1 - 3 \n \nREQUIRED SUPPLEMENTARY INFORMATION Management's Discussion and Analysis ......................................................................... \n \n4 - 16 \n \nBASIC FINANCIAL STATEMENTS: System-wide Financial Statements: Statement of Net Position ............................................................................................ Statement of Activities ................................................................................................ Fund Financial Statements: Balance Sheet - Governmental Funds.......................................................................... Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position .............................................................................. Statement of Revenues, Expenditures, and Changes in in Fund Balances - Governmental Funds.................................................................. Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities............... Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - General Fund ........................................................ Statement of Fiduciary Assets and Liabilities ............................................................. Notes to Financial Statements ......................................................................................... \n \n17 18 \n19 \n20 \n21 \n22 \n23 24 25 - 57 \n \nREQUIRED SUPPLEMENTARY INFORMATION Schedule of Proportionate Share of the Net Pension Liability ........................................ Schedule of Proportionate Share of Collective Net OPEB Liability ............................... Schedule of Contributions for Defined Benefit Pension Plans........................................ Schedule of Contributions for OPEB .............................................................................. Notes to Required Supplementary Information ............................................................... \n \n58 59 60 61 62 - 63 \n \n COMBINING FUND STATEMENTS AND OTHER SCHEDULES \n \nNonmajor Governmental Funds  Description................................................................ Combining Balance Sheet - Nonmajor Governmental Funds ......................................... Combining Statement of Revenues, Expenditures, and Changes \nin Fund Balances - Nonmajor Governmental Funds ................................................... Combining Balance Sheet - Other Special Revenue Funds............................................. Combining Statement of Revenues, Expenditures, and Changes \nin Fund Balances - Other Special Revenue Funds....................................................... Schedule of Revenues, Expenditures, and Changes in Fund \nBalances - Budget and Actual - Capital Projects Fund................................................ Schedule of Revenues, Expenditures, and Changes in Fund \nBalances - Budget and Actual - Debt Service Fund .................................................... Schedule of Revenues, Expenditures, and Changes in Fund \nBalances - Budget and Actual - School Nutrition Program......................................... Combining Schedule of Revenues, Expenditures, and Changes in Fund \nBalances - Budget and Actual - Other Special Revenue Funds................................... Statement of Changes in Fiduciary Assets and Liabilities .............................................. Schedule of Allotments and Expenditures - By Program - \nGeneral Fund - Quality Basic Education Programs .................................................... \n \n64 - 65 66 \n67 68 - 69 \n70 - 71 \n72 \n73 \n74 \n75 - 79 80 \n81 \n \nSTATISTICAL SECTION \nStatistical Section Introduction........................................................................................ Comparative Statements of Net Position, Last Ten Fiscal Years .................................... Net Position by Component, Last Ten Fiscal Years........................................................ Changes in Net Position, Last Ten Fiscal Years.............................................................. Fund Balances, Governmental Funds, Last Ten Fiscal Years ......................................... Changes in Fund Balance, Governmental Funds, Last Ten Fiscal Years........................ Revenues by Source, General Fund, Last Ten Fiscal Years............................................ Percentage Change in Revenues by Source, General Fund, Last Ten Fiscal Years ........ Per Pupil Revenues by Source, General Fund, Last Ten Fiscal Years ............................ Assessed Value and Actual Value of Taxable Property, Last Ten Calendar Years ........ Millage Rates of the District, Last Ten Calendar Years .................................................. Principal Property Tax Payers, Current Year and Nine Years Ago ................................ Property Tax Levies and Collections, Last Ten Fiscal Years.......................................... Gross Tax Digest Components ........................................................................................ Ratio of Annual Debt Service to Total Governmental Fund Expenditures \nLast Ten Fiscal Years ................................................................................................... Ratio of Net Bonded Debt to Estimated Actual Value and \nGeneral Bonded Debt Per Capita, Last Ten Fiscal Years............................................. Outstanding Debt by Type, Last Ten Fiscal Years.......................................................... Direct and Overlapping Governmental Activities Debt .................................................. Legal Debt Margin, Last Ten Fiscal Years...................................................................... Demographics, Latest Census Data ................................................................................. Demographics - Income Statistics, Latest Three Years................................................... Demographic and Economic Statistics, Last Ten Fiscal Years ....................................... Principal Employers, Current Year and Nine Years Ago................................................ \n \n82 83 84 85 86 87 88 89 90 91 92 93 94 95 \n96 \n97 98 99 100 101 - 102 103 104 105 \n \n Employees of the District, Last Ten Fiscal Years ........................................................... General Fund Operating Statistics, Pupil/Teacher Ratio, Last Ten Fiscal Years ............ School Building Information, Last Ten Fiscal Years ...................................................... Enrollment Statistics, Last Ten Fiscal Years ................................................................... Expenditures by Function, General Fund, Last Ten Fiscal Years ................................... Per Pupil Expenditures by Function, General Fund, Last Ten Fiscal Years ................... Free and Reduced Lunch, Last Ten Fiscal Years ............................................................ Insurance Coverage of the District .................................................................................. \n \n106 107 108 - 111 112 113 114 115 116 \n \nSINGLE AUDIT, COMPLIANCE AND INTERNAL CONTROL SECTION \n \nIndependent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards ................................. \nIndependent Auditor's Report on Compliance for Each Major Program and Report on Internal Control over Compliance in Accordance with Uniform Guidance ......................................................................................................... \nSchedule of Expenditures of Federal Awards .................................................................. Notes to Schedule of Expenditures of Federal Awards .................................................... Schedule of Findings and Questioned Costs .................................................................... \n \n117 - 118 \n119 - 121 122 123 \n124 - 125 \n \n INTRODUCTORY SECTION \n \n -i- \n \n -ii- \n \n -iii- \n \n -iv- \n \n -v- \n \n -vi- \n \n -vii- \n \n -viii- \n \n -ix- \n \n The Certificate of Excellence in Financial Reporting is presented to \nGriffin-Spalding County School System \nfor its Comprehensive Annual Financial Report (CAFR) for the Fiscal Year Ended June 30, 2017. \nThe CAFR has been reviewed and met or exceeded ASBO International's Certificate of Excellence standards. \n \nCharles E. Peterson, Jr., SFO, RSBA, MBA President \n \nJohn D. Musso, CAE Executive Director \n \n-x- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM BOARD OF EDUCATION \nFUNCTION AND COMPOSITION \n \nThe Griffin-Spalding County Board of Education governs all matters relating to education and operations in the Griffin-Spalding County School System, as provided by Georgia law. \n \nThe Board is responsible, through its oversight function, for maintaining a reasonable and uniform system of public schools serving students in grades pre-kindergarten through 12. With the advice of the Superintendent, the Board determines policies and prescribes rules and regulations for the management of the school system. This includes, but is not limited to, adopting system wide goals and objectives, developing a financial budget for the school year, and receiving regular reports on the progress of serving students and families through out the year. \n \nThe Board currently consists of five members elected from single member districts. The Board has independent taxing authority for the purpose of funding public education inside Spalding County, Georgia. \n \nRegular meetings of the Board of Education are held on the first Tuesday of each month beginning at 6:00 p.m. in the Board meeting room of the main administration building located at 216 South Sixth Street, Griffin, Georgia. Board workshops are held on the fourth Tuesday of each month at 4:00 p.m. in the Board meeting room. Special meetings may be called at other times by the Board Chairperson. At all meetings, a majority of the entire membership constitutes a quorum. All meetings are open to the public. \n \nThe Board elects a Chairperson and Vice-Chairperson annually from its members. \n \nAs of June 30, 2018, the members of the Board of Education and dates of expiration of their terms are as follows: \n \nTerm Name__________________________Title_______________Expiration \n \nMr. Zachery B. Holmes Mr. James A. Graham Mrs. Barbara Jo Cook Mr. Willliam B. Doss Mr. Michael Kendall \n \nChairperson Vice-Chairperson Member Member Member \n \n12/31/18 12/31/18 12/31/20 12/31/20 12/31/18 \n \n-xi- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM ADMINISTRATIVE STAFF As of June 30, 2018 \n \nEXECUTIVE ADMINISTRATION James D. Smith Dr. Kiawana Kennedy Joanie Mullins \n \nSuperintendent of Schools Deputy Superintendent Administrative Assistant to Superintendent \n \nDIVISION OF INSTRUCTIONAL SERVICES \n \nSara Jones \n \nExecutive Director of Instruction \n \nAshley Crawford \n \nDirector of K-12 Curriculum \n \nMichele Purvis \n \nDirector of School Improvement \n \nMelvina Crawl \n \nDirector of Professional Development \n \nShelia Mincey \n \nDirector Program Evaluation and \n \nAssessment/Special Education \n \nAshley McLemore \n \nDirector of Federal Programs \n \nDIVISION OF ADMINISTRATIVE SERVICES \n \nAnthony Aikens \n \nExecutive Director of Administrative Services \n \nBruce Ballard \n \nDirector of Facilities and Construction \n \nTodd Harris \n \nDirector of Pupil Transportation \n \nTiffany Lawrence \n \nDirector of Nutrition Services \n \nBonita Fluker \n \nDirector of Student Services \n \nLonny Harper \n \nDirector of Instructional Technology \n \nJosh Griffis \n \nDirector of Administrative Technology \n \nDIVISION OF ELEMENTARY EDUCATION \n \nDr. Norman Sauce \n \nExecutive Director of Elementary Education \n \nDr. Chris Bearden \n \nDirector of Pre-Kindergarten/ELL \n \nDIVISION OF ELEMENTARY EDUCATION \n \nDr. Donald Warren \n \nExecutive Director of Secondary Education \n \nLaura Ergle \n \nDirector of GRCCA and CTAE \n \nFINANCE Ryan McLemore \n \nChief Financial Officer \n \nHUMAN RESOURCES Stephanie Dobbins Edna Aikens \n \nExecutive Director of Human Resources Assistant Director of Human Resources \n \nSCHOOL AND COMMUNITY SERVICES \n \nKimberly Willis Green \n \nExecutive Director of Communications and \n \nPartnerships \n \n-xii- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM ADMINISTRATIVE STAFF (continued) As of June 30, 2018 \n \nSCHOOL PRINCIPALS Pearla Hodo Tiffany Campbell Renee Mallard Hoby Davenport Natalie Wood Ben Steele Karen Oot Dottie English Gloria Brown Stan Mangham Evelyn Jones Tiffany Taylor Laura Jordan Dexter Sands Larry Jones Darrell Evans Lindy Pruitt Stephanie Evans \n \nAnne Street Elementary School Atkinson Elementary School Beaverbrook Elementary School Cowan Road Elementary School Crescent Road Elementary School Futral Road Elementary School Jackson Road Elementary School Jordan Hill Road Elementary School Moore Elementary School Moreland Road Elementary School Orrs Elementary School Carver Road Middle School Cowan Road Middle School Kennedy Road Middle School Rehoboth Road Middle School Griffin High School Spalding High School A.Z. Kelsey Academy \n \nLEGAL COUNSEL Timothy N. Shepherd, P.C. \nINDEPENDENT AUDITORS Robinson, Grimes \u0026 Company, P.C. \n \nGriffin, Georgia Columbus, Georgia \n \n-xiii- \n \n -xiv- \n \n-xiv- \n \n FINANCIAL SECTION \n \n Independent Auditor's Report \nThe Board of Education Griffin-Spalding County School System Griffin, Georgia \nReport on the Financial Statements \nWe have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of Griffin-Spalding County School System, as of and for the year ended June 30, 2018, and the related notes to the financial statements, which collectively comprise Griffin-Spalding County School System's basic financial statements as listed in the table of contents. \nManagement's Responsibility for the Financial Statements \nGriffin-Spalding County School System's management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. \nAuditor's Responsibility \nOur responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. \nAn audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the government's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the government's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. \n5637 Whitesville Rd. P.O. Box 4299, Columbus, Georgia 31914  Telephone 706-324-5435  Fax 706-324-1209  Email info@robinsongrimes.com Members of: American Institute of CPAs and related Private Companies Practice Section, \nEmployee Benefit Plan Audit Quality and Government Audit Quality Center  Center for Audit Quality  Georgia Society of CPAs  CPAmerica International  www.robinsongrimes.com \n-1- \n \n The Board of Education Griffin-Spalding County School System Page Two \nWe believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. \nOpinions \nIn our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of Griffin-Spalding County School System, as of June 30, 2018, and the respective changes in financial position thereof and the respective budgetary comparison for the General Fund for the year then ended in accordance with accounting principles generally accepted in the United States of America. \nOther Matters \nRequired Supplementary Information \nAccounting principles generally accepted in the United States of America require that the management's discussion and analysis on pages 4 through 16 and other required supplementary information on pages 58 through 63 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. \nOther Information \nOur audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise Griffin-Spalding County School System's basic financial statements. The introductory section, combining nonmajor fund financial statements and other schedules, statistical tables and the Schedule of Expenditures of Federal Awards, required by the Title 2 U.S. Code of Federal Regulations (\"CFR\") Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (\"Uniform Guidance\"), are presented for purposes of additional analysis and are not a required part of the basic financial statements. \n-2- \n \n The Board of Education Griffin-Spalding County School System Page Three \nThe combining nonmajor fund financial statements on pages 66 through 79, and other schedules on pages 80 and 81, and the Schedule of Expenditures of Federal Awards on page 122 are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining nonmajor fund financial statements and other schedules and the Schedule of Expenditures of Federal Awards are fairly stated in all material respects in relation to the financial statements as a whole. \nThe introductory section on pages i through xiv and statistical section on pages 82 through 116 are presented for purposes of additional analysis, have not been subjected to the auditing procedures applied in the audit of the financial statements and, accordingly, we do not express an opinion or provide any assurance on them. \nOther Reporting Required by Government Auditing Standards \nIn accordance with Government Auditing Standards, we have also issued our report dated October 31, 2018 on our consideration of Griffin-Spalding County School System's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the System's internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Griffin-Spalding County School System's internal control over financial reporting and compliance. \nCertified Public Accountants \nColumbus, Georgia \nOctober 31, 2018 \n-3- \n \n Griffin-Spalding County School System Management's Discussion and Analysis \nFor the Year Ended June 30, 2018 \nThe discussion and analysis of Griffin-Spalding County School System's (herein referred to as the \"System\") financial performance provides an overall review of the System's financial activities for the fiscal year ended June 30, 2018. The intent of this discussion and analysis is to look at the System's financial performance as a whole. Readers should also review the financial statements and notes to the financial statements to enhance their understanding of the System's financial performance. \nFinancial Highlights \n! The assets of the System exceeded its liabilities at June 30, 2018, by $32,211,456. \n! Net position increased by a total of $1,274,851 from the beginning of the year. The increase is attributable, primarily, to Special Purpose Local Option Sales Tax (SPLOST) revenue which financed investments made in capital assets during the year. \n! The System-wide Statement of Net Position includes the employer's proportionate share of pension liabilities in accordance with GASB 68 and the net Other Post-employment Benefits (OPEB) liability in accordance with GASB 75. Net pension liability as of June 30, 2018, was $91,097,553. Net OPEB liability as of June 30, 2018, was $90,431,161. \n! At June 30, 2018, the System's General Fund reported a fund balance of $17,407,976, an increase of $2,855 from the last fiscal year. Of this total, $505,527 has been committed to the risk management function in compliance with GASB 54. Unassigned fund balance totaled $16,902,449. \n! SPLOST collections in fiscal year 2018 increased 5.63% from collections in fiscal year 2017. \n! The System's current general obligation bond indebtedness, net of related premiums, is $14,130,638. Interest only debt service payments were made in FY18 in the amount of $614,127. \nOverview of the Financial Statements \nThis discussion and analysis is intended to serve as an introduction to the System's basic financial statements. The basic financial statements comprise three components: 1) System-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. \n-4- \n \n System-wide Financial Statements \nThe System-wide financial statements are designed to provide readers with a broad overview of the System's finances in a manner similar to a private-sector business. \nThe Statement of Net Position presents information on all of the System's assets and liabilities with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the System is improving or deteriorating. It is important to note that this statement consolidates the System's current financial resources (short-term) with capital assets and long-term liabilities. \nThe Statement of Activities presents information showing how the System's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will result in cash flows in future fiscal periods (e.g. uncollected taxes, etc.) \nFund Financial Statements \nA fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The System, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the System can be divided into two categories: governmental funds and fiduciary funds \nGovernmental Funds \nMost of the System's activities are reported in governmental funds focusing on how money flows in and out of those funds and the balances left at year-end available for spending in future periods. The governmental fund statements provide a detailed shortterm view of the System's general government operations and the basic services it provides. Governmental fund information helps determine whether there are more or less financial resources that can be spent in the near future to finance educational programs. \nFiduciary Funds \nThe System is the trustee, or fiduciary, for assets that belong to others such as club and class funds and payroll withholding funds. The System is responsible for ensuring assets reported in these funds are used only for their intended purposes and by those to whom the assets belong. \n-5- \n \n Notes to Financial Statements \n \nThe notes provide additional information that is essential to a full understanding of the data provided in the system-wide and fund financial statements. \nSystem-wide Financial Analysis \n \nAs noted earlier, net position may serve over time as a useful indicator of a government's financial position. As of June 30, 2018, System assets exceeded liabilities by $32,211,456. \n \nBy far, the largest portion the System's total assets (72.1 percent) reflects its investment in capital assets (e.g. buildings, land, machinery and equipment, construction in progress) net of depreciation related to those assets. The System uses the capital assets to provide services to our students, faculty, and community; consequently, these assets are not available for future spending. \n \nThe following chart details the major categories of assets, liabilities, and net position with a comparison to the prior fiscal year. \n \nGriffin-Spalding County School System Net Position  as of June 30, 2018 and 2017 \n \nGovernmental Activities \n \nFY 2018 \n \nFY 2017 \n \nCurrent and other assets Capital Assets \nTotal assets \n \n$ \n \n65,218,471 \n \n168,399,995 \n \n233,618,466 \n \n$ \n \n65,382,524 \n \n164,950,424 \n \n230,332,948 \n \nDeferred Outflows of Resources \n \n17,856,232 \n \n28,261,016 \n \nCurrent and other liabilities Long-term liabilities \nTotal liabilities \n \n15,148,959 195,659,352 210,808,311 \n \n15,951,492 210,310,248 226,261,740 \n \nDeferred Inflows of Resources \n \n8,454,931 \n \n1,395,619 \n \nNet Position: Net investment in capital assets Restricted Unrestricted \nTotal net position, as restated \n \n154,269,357 \n \n29,458,799 \n \n(151,516,700) \n \n$ \n \n32,211,456 \n \n150,481,724 \n \n28,225,870 \n \n(147,770,989) \n \n$ \n \n30,936,605 \n \n-6- \n \n An additional portion of the System's total net position represents resources that are subject to external restrictions on how they may be used. Comprising the majority of restricted net position are assets being accumulated for use in capital projects accounting for 90.09% of total restricted net position. The remaining 9.91% of restricted net position represents non-expendable, permanent funds and funds set aside for the continuation of federal and other programs. \nUnrestricted net position includes the school system's proportionate share of the collective net pension liability in each cost sharing benefit plan in which the district participates. For the first year, the net Other Post-employment Benefits (OPEB) liability was also recorded to reflect the school system's share of healthcare benefits for retirees. The net pension liability was first recorded on the FY2015 system-wide financials as part of the implementation of GASB 68. The net OPEB liability was recorded in FY2018 as part of the implementation of GASB 75. Because of these changes, the System continues to report a deficit unrestricted net position on the System-wide Statement of Net Position. \nChanges in Net Position from Operating Results \nNet position increased $1,274,851 from operating results in the fiscal year ended June 30, 2017, compared to an increase of $4,362,503 in the prior fiscal year. \nRevenues In 2018, the System's total revenues increased $2,230,304 (1.87%) over FY17. \n! Operating grants and contributions increased by 4.88%, or $3.92 million, primarily due to an increase in the State QBE funding formula which takes into account student growth (FTEs), increased funding for salary and benefit costs, and the reduction in a cut to the formula known as an \"amended formula adjustment.\" \n! General property taxes remained relatively flat, with a slight increase of $21,422. Ad valorem taxes declined while Title Ad Valorem Taxes (TAVT), a tax on motor vehicles, increased to offset this decline. \n! Special Purpose Local Option Sales Tax (SPLOST) increased 5.62%, or $.48 million, due to strong growth in the local economy. \n! Investment earnings increased 177%, or $.37 million, as interest rates on the GA Fund I investment pool increased from 1.02% to 1.86% on higher average account balances. \n! Capital grants and contributions decreased by $2.5 million. In FY17, the school system received a capital grant by the Technical College System of Georgia to go \n-7- \n \n toward the construction of the Griffin Region College and Career Academy. This grant was a one-time award. Expenses In 2018, the System's total expenses increased $5,317,956 (4.62%) over FY17. ! Instructional services increased 3.61%, or $2.46 million, due to a 2% increase in employee salaries, a longevity step on the teacher salary schedule, and a 17.8% increase in the employer's cost of the contribution to the Teacher Retirement System of Georgia. ! Improvement of instructional services increased 15.48%, or $.94 million, due to a 2% increase in salaries, the increased cost of employer contributions to the Teacher Retirement System of Georgia, and an investment in a Rigorous Curriculum Design (RCD) process that developed comprehensive curriculum guides for all grade levels for English/language arts, math and science. ! General and school administration increased 7.2%, or $.77 million, due to a 2% increase in salaries, the increased cost of employer contributions to the Teacher Retirement System of Georgia, and three additional administrative positions added as part of a change to the organizational structure. ! Other functional category increases consist of the same employee pay raises and increases in the employer's cost of contributions to the Teacher Retirement System of Georgia. Key elements of the increase are as follows on the next page: \n-8- \n \n Griffin-Spalding County School System Changes in Net Position from Operating Results \n \nRevenues Program revenues: \nOperating grants and contributions Capital grants and contributions Charges for services \n \nGovernmental \n \nActivities \n \nFY 2018 \n \nFY 2017 \n \nChange \n \n$ 84,128,840 0 \n806,326 \n \n$ 80,210,632 2,500,000 917,694 \n \n4.9% -100.0% -12.1% \n \nGeneral revenues: Property taxes Special purpose local option sales tax Other general revenues Total revenues \n \n27,111,736 9,019,297 584,818 \n121,651,017 \n \n27,090,314 8,538,776 163,297 \n119,420,713 \n \n0.0% 5.6% 258.1% 1.87% \n \nExpenses Instruction Pupil support services Improvement of instructional services Educational media services General and school administration Business administration Maintenance and operation of plant Student transportation services Central support services Other support services Food service operations Community services operations Interest on long-term debt Unallocated depreciation \nTotal expenses \n \n70,571,495 3,573,107 7,004,975 1,761,282 \n11,433,594 442,700 \n9,148,396 5,596,906 1,972,739 \n903,044 7,156,285 \n217,390 276,066 318,187 \n120,376,166 \n \n68,115,614 3,405,213 6,065,947 1,701,942 10,664,979 448,078 9,051,874 5,365,352 1,837,944 981,592 6,793,323 150,809 276,066 199,477 \n115,058,210 \n \n3.6% 4.9% 15.5% 3.5% 7.2% -1.2% 1.1% 4.3% 7.3% -8.0% 5.3% 44.1% \n0% 59.5% 4.6% \n \nIncrease in net position \n \nNet position, beginning of year, restated \n \nNet position, end of year \n \n$ \n \n1,274,851 30,936,605 32,211,456 \n \n4,362,503 26,574,102 $ 30,936,605 \n \n4.1% \n \n-9- \n \n Financial Analysis of the System's Funds \nGeneral Fund Budgetary Highlights \nThe System's budget is prepared in accordance with Georgia law and is based on accounting for certain transactions on the modified accrual basis of accounting. The System uses site-based budgeting and the budgeting system is designed to tightly control site budgets but provide flexibility for site management. \nThe most significant budgeted fund is the general fund. The original fiscal year 2018 budget, as adopted, projected a use of fund balance in the amount of $1,850,000. The use of fund balance was targeted for specific initiatives outlined in a curriculum audit performed to assess our instructional program. Revenues were projected to be $87,795,959 and expenditures and other financing uses were projected to be $89,645,959. These amounts represented an increase of 1.08% from fiscal year 2017 actual revenues and an increase of 3.71% from fiscal year 2017 actual expenditures. The state revenue budget was negatively impacted by a $1,042,066 \"amended formula adjustment\" equaling 1.99% of the System's earnings under the State's Quality Basic Education (QBE) funding formula. Amended formula adjustments, imposed for the sixteenth consecutive year, occur when the Georgia General Assembly fails to appropriate sufficient dollars in the state budget to fully fund formula earnings. The amended formula adjustment held steady as compared to the prior year. Despite the continuation of the amended formula adjustment, State revenues increased significantly. The State chose to fund a 2% increase to the teacher salary schedule. State revenues reflected additional funding to cover a 17.8% increase to the employer contribution rate to the Teacher Retirement System of Georgia. The System also received additional state funds from the equalization grant due to the System's decrease in rankings comparing the relative property wealth per student among Georgia school districts. Budgeted revenues for property taxes and the Title Ad Valorem Tax increased to reflect a decrease in exemptions for industrial properties and an upward trend in the collection of taxes from the sale of motor vehicles. The Board of Education adopted a local property tax millage rate of 18.204, a decrease of .366 mills. \nThe final amended general fund budget added $3,000,812 to revenues, an increase of 3.42% from the original budget for the year. The amended budget included an increase of $1,546,651 in QBE formula earnings due to a midterm adjustment based on increased student full-time equivalent (FTE) counts. The State legislature will fund additional QBE earnings during the legislative session based on these student counts. Local revenues were amended to reflect better collections of property tax and Title Ad Valorem taxes as well as rising investment revenues associated with higher interest rates. Amended revenues also included the addition of several local and state grants received during the year. \nThe original budget for fiscal year 2018 included appropriated expenditures of $89,645,959. The original budget comprised funding for a 175 day instructional calendar \n-10- \n \n with teachers working 190 days, 10.5 additional teachers, a longevity step and a 2% raise to the state-based salary schedule for certified staff (teachers) and a 2% cost-of-living raise for all other employees, and a 17.8% increase to the employer's contribution rate to the Teacher Retirement System of Georgia. Funding was also included for three administrators as part of a change in the organizational structure as well as a specific investment for the development of curriculum guides for English/language arts, math and science. \nAs the year progressed, an amended budget totaling $92,191,812 was approved by the Board of Education, an increase of $2,545,853 in appropriated expenditures. For internal budgeting purposes, the self-insured workers compensation fund and after-school program are maintained separate from the general fund; however, the amended budget includes collapsing these two accounts into the general fund for the preparation of financial statements. Similar to the revenue side, additional expenditures include several local and state grants received during the year. \nGeneral Fund Operations \nThe general fund finished fiscal year 2018 with a fund balance of $17,407,976, an increase of $2,855 from fiscal year 2017. $505,527 of the fund balance was committed to the risk management function in compliance with GASB 54. Actual revenues exceeded budget projections by $488,082 while actual expenditures were $865,052 lower than budgeted. \nLocal revenue sources represented 31.43% of total general fund revenues for the year, down from 31.89% in the prior year. Local revenues exceeded budgeted projections by $401,416. Collections of local ad valorem property tax and Title Ad Valorem Tax (TAVT) exceeded the budget by $392,576. Property taxes are dependent on collection rates of current and prior years while the Title Ad Valorem Tax relates to the volume of vehicles sold during the year. Property taxes held relatively flat while Title Ad Valorem Tax collections increased significantly. State revenues came in on target with the budget difference representing some unused grant funds. Federal revenues also increased as Medicaid reimbursements for speech services increased. \nAt year end, total expenditures were under budget by $865,052. Expenditures for direct classroom instruction (e.g. teacher salaries and benefits, textbooks, classroom supplies, etc.) accounted for 62.51% of total general fund expenditures, slightly down from the prior fiscal year. Savings in expenditures were spread out among the functional categories. Areas of savings include personnel changes that occur from the time of budget adoption to the end of the year. The budget is a snapshot at one point in time and the school system experiences a significant amount of change in personnel over the summer and throughout the year. This change can lead to savings in salaries as new personnel fill positions held by retirees, people add or drop health benefits, or positions remained unfilled for a period of time. The primary area for operational savings was in maintenance and operation of plant which included utilities that were approximately $209,000 under budget. \n-11- \n \n The following chart details the major components of revenues and expenditures by function for fiscal year 2018, a comparison of changes with the previous fiscal year, and the change in fund balance for the general fund. \n \nGriffin-Spalding County School System General Fund - Revenue and Expenditures Comparison \n \nRevenues State Federal Local and other Total revenues \n \nAmount \n \n% of Total \n \n$ 62,165,007 601,751 \n28,773,516 $ 91,540,274 \n \n67.91 0.66 \n31.43 100 \n \nIncrease (Decrease) \nOver FY2017 \n$ 3,512,748 104,016 \n1,075,486 $ 4,692,250 \n \nExpenditures Instruction Pupil support services Instructional staff support Media Services General and school administration Business administration Maintenance and Operations Student Transportation Other support services Community services School Nutrition Services Capital Outlay Total expenditures \n \n$ 56,699,614 62.51 $ 1,949,092 2.15 3,857,445 4.25 1,610,344 1.78 9,930,839 10.95 436,233 0.48 8,188,722 9.03 4,927,811 5.43 2,818,979 3.11 212,405 0.23 70,697 0.08 0 0.00 \n$ 90,702,181 100 $ \n \n2,628,979 95,248 \n784,825 51,867 \n751,905 2,835 74,022 \n93,057 127,279 66,443 \n4,454 (22,509) 4,658,405 \n \nOther Financing Sources (Uses) Transfers in Transfers out Total other financing sources (uses) \n \n(835,238) $ (835,238) \n \nNet change in fund balance \n \n$ \n \n2,855 \n \n-12- \n \n General fund  changes in fund balance \nState revenues increased $3.5 million due to funding for a 2% increase to the state salary schedule for teachers, a 17.8% increase to the cost of contributions to the Teacher Retirement System of Georgia, a reduction of the cut to the State QBE funding formula, and a midterm adjustment in formula earnings based on increased student enrollment. Increases in Title Ad Valorem Tax collections combined with increases in investment earnings comprise the bulk of the change in local revenues. \nFunctional expenditures increased proportionately to the increase in revenues to cover the 2% increase in salaries, the 17.8% increase in the employer's cost for contributions to the Teacher Retirement System of Georgia, and investments made toward specific initiatives outlined in a curriculum audit. Overall, the change in fund balance was nominal. Other factors in the changes between years include the following: \n! General and school administration includes additional staff for a change in the organizational structure based on the results of a curriculum audit. This added three administrative positions. \n! Instructional staff support includes a significant investment toward the development of curriculum guides following the Rigorous Curriculum Design (RCD) process. \n! Maintenance and operations offset costs associated with pay raises through lower general maintenance requirements and utility costs. \nCapital Projects Fund Operations \nThe capital projects fund is used to account for school construction and the purchase of large capital assets. Current capital construction costs continue to be paid directly from prior receipts collected during the 2007 SPLOST (SPLOST III) and 2012 SPLOST (SPLOST IV) cycles and current receipts from the 2015 SPLOST (SPLOST V). SPLOST collections in fiscal year 2018 increased 5.63% compared to fiscal year 2017 with receipts of $9,019,297 and $8,538,776, respectively. \nRenovation work continued for SPLOST IV projects, with new work beginning for SPLOST V projects. The projects included the completion of renovations at the Griffin Region College and Career Academy, Beaverbrook Elementary and Crescent Elementary. The projects also included the first phase of a renovation to Moore Elementary. The fund balance for the capital projects fund reflects amounts collected for use on projects not yet begun. \nDebt Service Fund Operations \nThe debt service fund is used to accumulate resources for the retirement of long-term debt. The System issued general obligation sales tax bonds in the amount of $13,370,000 \n-13- \n \n in FY16 for capital projects to fund the initial construction of the Griffin Region College and Career Academy, the installation of system-wide instructional technology and bus purchases. The fund reflects interest only payments and fees in the amount of $614,127. \nCapital Assets and Debt Administration \nCapital Assets \n \nThe System's investment in capital assets for its governmental activities as of June 30, 2018, totaled $168,399,995, net of accumulated depreciation. The investment in capital assets includes land, buildings, vehicles, and equipment used in providing services to our students and community as well as construction in progress on several building projects. \n \nMany of the changes to the System's capital asset accounts came from the renovation of existing buildings. Renovation work at four schools, including the Griffin Region College and Career Academy, Beaverbrook Elementary, Crescent Elementary, and Moore Elementary, constituted the majority of the year's activity. Note 4 to the basic financial statements provides additional information on the System's capital assets including a detailed breakdown of the types of capital assets included in the computation of depreciation charges. As of June 30, 2018, 25.95% of the cost basis of depreciable assets had been taken as a depreciation charge since the various assets were placed in service. A summary of capital assets follows. \n \nGriffin-Spalding County School System Capital Assets, Net of Accumulated Depreciation \n \nGovernmental Activities \nFY 2018 \n \nFY 2017 \n \nLand \n \n$ \n \nConstruction in progress \n \nBuildings \n \nBuilding Improvements \n \nVehicles and Equipment \n \n3,360,708 $ 1,152,494 99,483,914 56,872,520 7,530,359 \n \n3,360,708 14,352,409 101,238,167 39,290,260 6,708,880 \n \nTotal \n \n$ \n \nDebt Administration \n \n168,399,995 $ \n \n164,950,424 \n \nThe Griffin-Spalding County School System issued General Obligation Sales Tax Bonds, Series 2015, in July 2015. In FY18, the aggregate principal amount of these bonds is $14,130,638, net of related premiums. The proceeds of this bond issuance has gone toward the following 2015 SPLOST (SPLOST V) projects: Griffin Region College and Career Academy, the System-wide installation of the Audio Enhancement classroom technology product, and bus purchases. \n \n-14- \n \n At June 30, 2018, the System had $14,130,638 in outstanding general obligation bond indebtedness, net of related premiums. The current debt limitation for the System is $138,780,543 based on state law limiting the amount of general obligation debt a government entity may issue to ten (10) percent of the total assessed value of taxable property. \nThe System maintains a rating of AA from Standard \u0026 Poor's for general obligation debt subject to the State intercept program. \nAdditional information on the System's long-term debt can be found in Note 5 to the basic financial statements. \nOutlook for the Future \nThe System continues to maintain a strong financial position. As the economic position of the State has improved, so has the funding for the school system. The cut to the State funding formula, known as the amended formula adjustment, has been eliminated for the FY19 budget. This cut has existed since 2003 and its elimination is a welcome sign of an improving economy. Funding in addition to the elimination of the amended formula adjustment is tied to mandated changes to the State's teacher pay scale and increases in benefit costs, such as healthcare and contributions to the Teacher Retirement System of Georgia. The State continues to provide waivers for class size requirements as well as other rules and regulations to help provide flexibility with the investment decisions made. \nThe assessed net value of the county property digest increased approximately 1.7% in 2018, however much of the growth was from revaluations. Taxable property from new growth increased $22.4 million in the 2018 tax digest, but part of the increase was offset by an $8.3 million increase in exemptions. The largest impact to new growth is the decrease in motor vehicle ad valorem taxes. The State changed the taxation method on motor vehicles, replacing it with a Title Ad Valorem Tax (TAVT) which works in a similar manner as a sales tax. Therefore, this component of the digest will eventually move towards zero. Fortunately, collections from the TAVT have kept pace with the decline in motor vehicle property taxes. The tax digest has remained fairly constant for many years. This lack of growth continues to be a pressure point on the System since Spalding County is considered to be low wealth in terms of taxable property per student. \nThe Board of Education adopted a millage rate of 18.066 mills, a decrease of .138 mills. This millage rate is the rollback rate that takes into account digest growth from revaluations. By adopting the rollback rate, the System negates the effect of the increased digest from revaluations. While negating the portion of growth from revaluations, the System will receive approximately $250,000 in additional property taxes from new growth. The Board of Education will continue to be mindful in obligating funds for programs and uses that might be needed to cover expenses not funded through state appropriations. \n-15- \n \n As of June 30, 2018, the General Fund reflected a fund balance of $17,407,976 translating to 68 days of operation based on the fiscal year 2019 budget. Of this balance, $505,527 was committed for risk management purposes by the Board of Education. Through careful planning, the System has been able to make intentional investments in the instructional program without having to resort to drastic changes from one year to the next. The fiscal year 2019 budget includes a 175 day student calendar with 190 work days for teachers, a longevity step on employee pay scales, funding for the development of curriculum guides for social studies and elective courses, and a number of support positions at the school level. Financial decisions focus on the sustainability of programs or costs as it is related to the System's ability to maintain adequate, available reserves minimizing needs for short-term borrowing to fund daily operations. Due to slow residential growth, we expect student enrollment to remain constant for the foreseeable future in line with the slow growth in county population. The county is experiencing some commercial and industrial growth. The county's industrial park has continued to pick up new industries. Initially, these industries include abatements in school property taxes, but a regular phase out of these abatements will help the overall digest to grow over time. Requests for Information This financial report is designed to provide a general overview of Griffin-Spalding County School System's finances for those with an interest in the System's finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to Ryan McLemore, CFO, Griffin-Spalding County School System, P.O. Drawer N, Griffin, Georgia 30224. Alternatively, you may send requests to the following e-mail address: ryan.mclemore@gscs.org. \n-16- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSTATEMENT OF NET POSITION JUNE 30, 2018 \nALL GOVERNMENTAL ACTIVITIES \n \nASSETS Cash and cash equivalents Property taxes receivable Due from other governments Other receivables Investments Inventories Other assets Capital assets not depreciable Capital assets, net of accumulated depreciation \nTotal assets \nDEFERRED OUTFLOWS OF RESOURCES Deferred outflow of resources - pension plan Deferred outflow of resources - OPEB \nTotal deferred outlfows of resources \nLIABILITIES Accounts payable and other current liabilities Unearned revenue Long-term liabilities: Bonds payable - due within one year Bonds payable - due in more than one year Proportionate share of net pension liability Proportionate share of net OPEB liability \nTotal liabilities \nDEFERRED INFLOWS OF RESOURCES Deferred inflow of resources - pension plan Deferred inflow of resources - OPEB \nTotal deferred inflows of resources \nNET POSITION Net investment in capital assets Restricted for: Capital projects Debt service Continuation of federal and state programs Permanent funds - nonexpendable Unrestricted \nTotal net position \n \n$ \n \n50,924,778 \n \n1,863,733 \n \n11,858,666 \n \n250,161 \n \n20,000 \n \n172,138 \n \n128,995 \n \n4,513,202 \n \n163,886,793 \n \n233,618,466 \n \n15,468,606 2,387,626 \n17,856,232 \n \n15,048,068 100,891 \n1,770,000 12,360,638 91,097,553 90,431,161 \n210,808,311 \n \n1,568,829 6,886,102 \n8,454,931 \n \n154,269,357 \n \n26,540,689 517,219 \n1,293,701 1,107,190 (151,516,700) \n \n$ \n \n32,211,456 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n \n-17- \n \n Functions/Programs Primary government: Governmental activities: \nInstruction Pupil support services Improvement of instructional services Educational media services General and school administration Business administration Maintenance and operation of plant Student transportation services Central support services Other support services Food services operation Community services operations Interest on long-term debt Unallocated depreciation (net of direct depreciation) Total school system \n \nGRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSTATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2018 \n \nEXPENSES \n \nPROGRAM REVENUES \n \nOPERATING \n \nCHARGES FOR \n \nGRANTS AND \n \nSERVICES \n \nCONTRIBUTIONS \n \nNET (EXPENSE) REVENUE AND CHANGES IN NET POSITION \nALL GOVERNMENTAL ACTIVITIES \n \n$ \n \n70,571,495 $ \n \n3,573,107 \n \n7,004,975 \n \n1,761,282 \n \n11,433,594 \n \n442,700 \n \n9,148,396 \n \n5,596,906 \n \n1,972,739 \n \n903,044 \n \n7,156,285 \n \n217,390 \n \n276,066 \n \n318,187 \n \n$ \n \n120,376,166 $ \n \n479,822 $ \n326,504 806,326 $ \n \n48,757,985 $ 2,553,127 5,007,702 1,183,339 8,286,035 320,560 6,035,476 4,084,971 1,455,243 663,589 5,624,121 156,692 \n84,128,840 \n \nGeneral revenues: Taxes: Property taxes, levied for general purposes Special purpose local option sales tax Investment earnings \n \nTotal general revenues \n \nChange in net position \n \nNet position, beginning (as restated) \n \nNet position, ending \n \n$ \n \n(21,333,688) (1,019,980) (1,997,273) \n(577,943) (3,147,559) \n(122,140) (3,112,920) (1,511,935) \n(517,496) (239,455) (1,205,660) (60,698) (276,066) (318,187) (35,441,000) \n27,111,736 9,019,297 584,818 \n36,715,851 \n1,274,851 \n30,936,605 \n32,211,456 \n \n-18- \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA BALANCE SHEET \nGOVERNMENTAL FUNDS JUNE 30, 2018 \n \nASSETS \n \nGENERAL FUND \n \nCAPITAL PROJECTS \nFUND \n \nDEBT SERVICE \nFUND \n \nNONMAJOR \n \nTOTAL \n \nGOVERNMENTAL GOVERNMENTAL \n \nFUNDS \n \nFUNDS \n \nCash and cash equivalents Receivables \nSpalding County tax commissioner State of Georgia, Department of Revenue State of Georgia, Department of Education Due from other funds Other Investments Inventories Other assets \nTotal assets \n \n$ \n \n18,061,321 $ \n \n28,382,089 $ \n \n1,863,733 \n8,184,007 1,098,149 \n189,971 \n \n782,121 2,490 \n \n122,659 \n \n$ \n \n29,519,840 $ \n \n29,166,700 $ \n \n517,219 $ 517,219 $ \n \n3,964,149 $ \n2,892,538 \n60,190 20,000 172,138 6,336 7,115,351 $ \n \n50,924,778 \n1,863,733 782,121 \n11,076,545 1,100,639 250,161 20,000 172,138 128,995 \n66,319,110 \n \nLIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES \n \nLIABILITIES Accounts payable Accrued salaries and benefits Unearned revenue Due to other funds Total liabilities \n \n$ \n \n1,088,437 $ \n \n9,540,725 \n \n26,366 \n \n2,490 \n \n10,658,018 \n \n1,734,333 $ 1,734,333 \n \n0$ 0 \n \n185,307 $ 2,499,266 \n74,525 1,098,149 3,857,247 \n \n3,008,077 12,039,991 \n100,891 1,100,639 16,249,598 \n \nDEFERRED INFLOWS OF RESOURCES Unavailable revenue - property taxes Total deferred inflows of resources \n \n1,453,846 1,453,846 \n \n0 \n \n0 \n \n1,453,846 \n \n0 \n \n1,453,846 \n \nFUND BALANCES Nonspendable: Inventories Permanent funds Restricted for: Debt service Capital projects Continuation of federal and state programs Committed to: Risk management School activity funds and other programs Assigned to: Permanent funds Capital projects Unassigned Total fund balances \n \n505,527 \n16,902,449 17,407,976 \n \n26,540,689 \n891,678 27,432,367 \n \n517,219 517,219 \n \n172,138 1,107,190 \n1,293,701 612,685 72,390 \n3,258,104 \n \n172,138 1,107,190 \n517,219 26,540,689 \n1,293,701 \n505,527 612,685 \n72,390 891,678 16,902,449 48,615,666 \n \nTotal liabilities, deferred inflows of resources and fund balances \n \n$ \n \n29,519,840 $ \n \n29,166,700 $ \n \n517,219 $ \n \n7,115,351 $ \n \n66,319,110 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n-19- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nRECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET POSITION JUNE 30, 2018 \n \nTotal fund balances - governmental funds \n \n$ 48,615,666 \n \nAmounts reported for governmental activities in the statement of net position are different because: \n \nOther long-term assets are not available to pay for current period expenditures: Property taxes reported as unavailable revenue in the funds \nCapital assets used in governmental activities are not financial resources and therefore are not reported as assets in governmental funds. The cost of the assets is $225,841,489 and the accumulated depreciation is $57,441,494 \n \n1,453,846 168,399,995 \n \nLong-term liabilities, including net pension obligations, are not due and payable in the current period and therefore are not reported in the funds. Long-term liabilities at year-end consist of: \nNet pension liability Net OPEB liability Bonds payable Premium on bonds issued Accumulated amortization of bond premium \n \n$ (91,097,553) (90,431,161) (13,370,000) (1,774,821) 1,014,183 (195,659,352) \n \n(195,659,352) \n \nDeferred outflows and inflows of resources related to pensions are applicable to future periods and, therefore, are not reported in the funds \nDeferred outflow of employer contributions related to pensions Deferred outflow of resources - proportionate share of collective deferred outflows of resources Deferred outflow of resources related to OPEB \n \n9,807,075 5,661,531 2,387,626 \n \n17,856,232 \n \nDeferred inflow of resources from the difference between expected and actual experience Deferred inflow of resources from the difference between projected and actual earnings \non pension plan investments Deferred inflow of resources from change in proportionate share of pension expense Deferred outflow of resources related to OPEB \n \n(343,006) (625,986) \n(599,837) (6,886,102) \n \n(8,454,931) \n \nTotal net position - governmental activities \n \n$ 32,211,456 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n-20- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSTATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS \nFOR THE YEAR ENDED JUNE 30, 2018 \n \nREVENUES Property taxes Sales taxes Fees and charges State funds Federal funds Earnings on investments Miscellaneous \nTotal revenues \nEXPENDITURES Current operating Instruction Support services Pupil support services Improvement of instructional services Educational media services General and school administration Business administration Maintenance and operation of plant Student transportation services Central support services Other support services School nutrition services Community service operations Debt service Interest and fiscal charges Capital outlay \nTotal expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES (USES) Transfers in Transfers out \nTotal other financing sources (uses) \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nGENERAL FUND \n \nCAPITAL PROJECTS \nFUND \n \nDEBT SERVICE \nFUND \n \nNONMAJOR GOVERNMENTAL \nFUNDS \n \nTOTAL GOVERNMENTAL \nFUNDS \n \n$ \n \n27,651,127 \n \n$ \n \n427,822 \n \n62,165,007 \n \n601,751 \n \n228,288 \n \n466,279 \n \n91,540,274 \n \n8,256,983 $ \n336,018 8,593,001 \n \n762,314 $ \n762,314 \n \n$ \n378,504 5,559,846 13,770,077 \n20,512 1,744,107 \n21,473,046 \n \n27,651,127 9,019,297 806,326 \n67,724,853 14,371,828 \n584,818 2,210,386 \n122,368,635 \n \n56,699,614 \n1,949,092 3,857,445 1,610,344 9,930,839 \n436,233 8,188,722 4,927,811 1,976,865 \n842,114 70,697 212,405 \n90,702,181 \n838,093 \n \n528,000 \n7,106,920 7,634,920 \n958,081 \n \n(835,238) \n \n(835,238) \n \n0 \n \n2,855 \n \n958,081 \n \n17,405,121 \n \n26,474,286 \n \n$ \n \n17,407,976 $ \n \n27,432,367 $ \n \n614,127 \n614,127 148,187 \n \n9,680,623 \n1,525,325 2,957,275 \n1,345,192 \n24,641 103,212 \n3,499 60,930 6,538,010 \n829 \n22,239,536 \n(766,490) \n \n66,380,237 \n3,474,417 6,814,720 1,610,344 11,276,031 \n436,233 8,213,363 5,559,023 1,980,364 \n903,044 6,608,707 \n213,234 \n614,127 7,106,920 \n121,190,764 \n1,177,871 \n \n0 148,187 369,032 517,219 $ \n \n835,238 \n835,238 68,748 \n3,189,356 3,258,104 $ \n \n835,238 (835,238) \n0 1,177,871 47,437,795 48,615,666 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n-21- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nRECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS \nTO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2018 \n \nTotal net change in fund balances - governmental funds \n \n$ 1,177,871 \n \nAmounts reported for governmental activities in the statement of activities are different because: \n \nCapital outlays are reported in governmental funds as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over their estimated useful lives as depreciation expense. This is the amount by which capital outlays exceed depreciation in the period. \nCapital outlays Depreciation \n \n$ 7,553,605 (4,104,034) \n \n3,449,571 \n \nGovernmental funds report the effect of premiums when the debt is first issued. These amounts are deferred and amortized in the Statement of Activities. \nAmortization of bond premium \n \n338,061 \n \n338,061 \n \nGovernmental funds do not present revenues that are not available to pay current obligations. In contrast, such revenues are reported in the Statement of Activities when earned: \nProperty tax revenue \n \n(539,391) \n \nGovernmental funds report district pension contributions as expenditures. However in the Statement of Activities, the cost of pension benefits earned net of employee contributions is reported as pension expense. \nSystem pension contributions Pension contributions - State support Cost of benefits earned net of employee contributions System OPEB contributions OPEB expense \n \n9,807,075 278,550 \n(10,039,697) 2,106,186 (5,303,375) \n \n(3,151,261) \n \nChange in net position of governmental activities \n \n$ 1,274,851 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n-22- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSTATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - GENERAL FUND FOR THE YEAR ENDED JUNE 30, 2018 \n \nREVENUES Property taxes State funds Federal funds Other local funds Total revenues \n \nBUDGETED AMOUNTS \n \nORIGINAL \n \nFINAL \n \n$ 26,484,235 $ 60,103,398 444,961 763,365 87,795,959 \n \n27,174,235 61,889,710 \n534,961 1,197,865 90,796,771 \n \nACTUAL AMOUNTS \n \nVARIANCE OVER (UNDER) \n \n$ 27,651,127 $ 61,909,586 601,751 1,122,389 91,284,853 \n \n476,892 19,876 66,790 (75,476) 488,082 \n \nEXPENDITURES Current operating Instruction Support services Pupil services Improvement of instructional services Educational media services General and school administration Business administration Maintenance and operation of plant Student transportation services Other support services Community service operations Total expenditures \n \n55,993,570 \n2,012,875 3,400,799 1,649,545 9,980,171 \n438,398 8,463,654 4,847,316 2,284,631 \n0 89,070,959 \n \n56,793,945 \n2,072,875 3,928,277 1,634,545 10,095,171 \n438,398 8,508,654 4,802,316 2,825,631 \n212,000 91,311,812 \n \n56,699,614 \n1,949,092 3,857,445 1,610,344 9,929,536 \n429,720 8,099,366 4,845,376 2,813,862 \n212,405 90,446,760 \n \n(94,331) \n(123,783) (70,832) (24,201) (165,635) (8,678) (409,288) 43,060 (11,769) \n405 (865,052) \n \nExcess (deficiency) of revenues over (under) expenditures \n \n(1,275,000) \n \n(515,041) \n \n838,093 \n \n1,353,134 \n \nOTHER FINANCING USES Proceeds from sale of assets Transfers in Transfers out Total other financing uses \n \n0 0 (575,000) (575,000) \n \n0 400,000 (1,280,000) (880,000) \n \n0 300,000 (1,135,238) (835,238) \n \n0 (100,000) 144,762 \n44,762 \n \nNet change in fund balances \n \n(1,850,000) \n \n(1,395,041) \n \n2,855 \n \n1,397,896 \n \nFund balances, beginning Fund balances, ending \n \n17,405,121 $ 15,555,121 $ \n \n17,405,121 16,010,080 \n \n17,405,121 \n \n0 \n \n$ 17,407,976 $ 1,397,896 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. \n-23- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nAGENCY FUNDS - SCHOOL ACTIVITY FUNDS STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES \nJUNE 30, 2018 \n \nASSETS Cash and cash equivalents Total assets \nLIABILITIES Accounts payable Due to student and faculty groups Total liabilities \n \n$ 222,116 $ 222,116 \n$ 21,079 201,037 \n$ 222,116 \n \nThe Notes to the Basic Financial Statements are an Integral Part of this Statement. -24- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 1: Summary of Significant Accounting Policies \nA. Reporting Entity \nThe Griffin-Spalding County School System (the \"System\") was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. The financial statements of the System have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. \nThe System's combined financial statements include the accounts of all System operations. The criteria for including organizations as component units within the System's reporting entity, as set forth in Financial Reporting Standards, include whether: \nx The organization is legally separate x The Board holds the corporate powers of the organization x The Board appoints a voting majority of the organization's board x The Board is able to impose its own will on the organization x The organization has the potential to impose a financial benefit/burden on the \nSystem x There is fiscal dependency by the organization on the System \nBased on the aforementioned criteria, the System has no component units. \nB. System-wide and fund financial statements \nThe system-wide financial statements (i.e., the statement of net position and the statement of activities) report information of the nonfiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements. However, interfund services provided and used are not eliminated in the process of consolidation. Normally, governmental activities are supported by taxes and intergovernmental revenues. \n-25- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nThe statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues. \nSeparate financial statements are provided for governmental funds and fiduciary funds, even though the latter are excluded from the system-wide financial statements. Major individual governmental funds are reported as separate columns in the fund financial statements. \nC. Measurement focus, basis of accounting, and financial statement presentation \nThe system-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. The fiduciary fund financial statements are also reported using the accrual basis of accounting; however, fiduciary funds have no measurement focus. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. \nThe State of Georgia reimburses the School System for teachers' salaries and operating costs through the Quality Basic Education Formula Earnings program (QBE). Generally teachers are contracted for the school year (July 1  June 30) and paid over a twelve month contract period, generally September 1 through August 31. In accordance with the respective rules and regulations of the QBE program, the State of Georgia reimburses the School System over the same twelve month period in which teachers are paid. At June 30, the amount of teachers' salaries incurred but not paid until July and August of the subsequent year are accrued. Since the State of Georgia recognizes its QBE liability for the July and August salaries at June 30, the School System recognizes its portion of that reimbursement as a receivable and revenue, consistent with symmetrical recognition. \n-26- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nGovernmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the System considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due. Property taxes associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered to be measurable and available only when cash is received by the System. \nThe System reports the following major governmental funds: \nThe general fund is the operating fund of the System. It is used to account for all financial resources except those required to be accounted for in another fund. \nThe capital projects fund is used to account for financial resources to be used for the acquisition or construction of major capital facilities. \nThe debt service fund is used to account for the accumulation of financial resources for the payment of principal, interest and related costs on general long-term debt. \nAdditionally, the School System reports the following funds: \nThe special revenue funds are used to account for federal and state funded grants. These grants are awarded to the System for the purpose of accomplishing specific educational tasks, which are defined in the grant agreements. These funds contain several locally funded programs whose expenditures are restricted to specific purposes. In addition, these funds are used to account for the school nutrition program whose revenues and expenditures are associated with the operations of the school cafeterias. \n-27- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nPermanent funds are used to account for assets held by the System resulting from a trust arrangement in which the System is the beneficiary which include scholarships and endowments. \nThe permanent funds apply the current financial resources measurement focus and modified accrual basis of accounting. Nonexpendable permanent funds account for assets of which the principal may not be spent. \nAgency funds are used to account for assets held on behalf of outside parties. \nThe agency funds are custodial in nature (assets equal liabilities) and do not present the results of operations nor have a measurement focus. Agency funds are accounted for using the accrual basis of accounting. These fiduciary funds are used to account for assets that the System holds on behalf of other funds of the System and are comprised primarily of amounts collected through fundraising efforts of individual school activity organizations. \nAmounts reported as program revenues include 1) charges to customers or application for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. \nWhen both restricted and unrestricted resources are available for use, it is the System's policy to use restricted resources first, then unrestricted resources as they are needed. As a general rule the effect of interfund activity has been eliminated from the system-wide financial statements. \nD. Assets, liabilities, deferred outflows/inflows of resources, and net position/fund balance \nCash, Cash Equivalents and Investments The System's cash and cash equivalents are considered to be cash on hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition. Investments of the System are reported at fair value. \nStatutes authorize the System to invest in obligations of the United States and of its agencies and instrumentalities; bonds or certificates of indebtedness of the state of Georgia and of its agencies and instrumentalities; certificates of deposit of banks insured by the F.D.I.C. to the extent that such investments are legal investments; repurchase agreements; \n-28- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nand the Local Government Investment Pool, administered by the State of Georgia. Certificates of deposit must be collateralized to the extent they exceed $250,000. \nReceivables Property taxes were levied on August 21, 2017, based on property values assessed as of January 1, 2017, and were payable on or before November 15, 2017. Property taxes became an enforceable lien on January 15, 2018. Taxes levied in calendar year 2017 for operations were levied at 18.204 mills. \nReceivables due but not available are deferred inflows from resources in the fund financial statements in accordance with the modified accrual basis, but not deferred in the government-wide financial statements in accordance with the accrual basis. \nTotal property tax revenues reported for the fiscal year amounted to $27.7 million, including $1.9 million reported as taxes receivable of which $1.5 million is reflected as deferred inflow of resources in the general fund. \nThe State of Georgia, Department of Revenue receivable represents Special Local Option Sales Tax (SPLOST) revenues earned in the prior year but received within 30 days after year-end from the State Department of Revenue. Amounts due from the State of Georgia, Department of Education reflect QBE allotments related to the State's reimbursement amount for its portion of general fund salaries and benefits, which totaled $8.2 million at June 30, 2018. \nOther receivables consist of amounts due to the System from other grants, tuition, or other revenue sources. The System anticipates collection of all receivables within one year. \nInventories Inventories consist of donated food commodities and purchased foods used in the preparation of meals. Inventories are stated at cost (principally first in, first-out), which is not in excess of market. The System utilizes the consumption method to recognize inventory usage. Under the consumption method, inventories are recorded as expenditures when used rather than when purchased. Reported inventories are reflected as nonspendable fund balance. The United States Department of Agriculture (USDA) commodity portion of the food services inventory consists of food donated by the USDA. It is valued at its Federally assigned value. \n-29- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nNOTE 1: Summary of Significant Accounting Policies (Continued) \n \nCapital Assets Capital assets, which include property, plant and equipment, are reported in the systemwide financial statements. Capital assets are defined by the System as assets with an initial cost of more than $5,000 and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated acquisition value at the date of donation. \n \nThe costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized. \n \nLand and construction in progress are not depreciated. Depreciation of all other capital assets is charged as an expense against their operations in the Statement of Activities. Property, plant and equipment is depreciated using the straight-line method over the following estimated useful lives: \n \nAssets \nPermanent buildings Portable buildings Building improvements Vehicles Office equipment Computer equipment \n \nYears \n40 - 80 10 20 \n5 - 10 3 - 10 3 - 10 \n \nAccrued Salaries and Benefits Accrued salaries and benefits relate primarily to salaries of employees paid over a twelvemonth period for contract services of ten months. The twelve-month pay period begins September 1 and ends August 31. Salaries payable in July and August along with the employee benefits relating to those salaries are accrued as of the end of the fiscal year. \n \nCompensated Absences It is the System's policy to permit employees to accumulate earned but unused vacation and sick pay benefits. There is no liability for unpaid accumulated sick leave since the System does not have a policy to pay any amounts when employees separate from service with the System. Vacation pay is awarded on a fiscal year basis, with no provisions for carryover of unused days. Accordingly, as of June 30, there is no liability for accrued vacation pay. \n \n-30- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nDeferred Outflows and Inflows of Resources Government-wide In addition to assets, the statement of net position and/or the balance sheet will report a separate section for deferred outflows of resources. This separate financial statement element, represents a consumption of resources that applies to a future period(s) and therefore will not be recognized as an outflow of resources until then. Under the full accrual method of accounting, the System has reported the contributions to the cost sharing benefit pension plan subsequent to the measurement date and prior to the fiscal year end as deferred outflows of resources. The System has also reported the actuarial changes in the System's proportionate share of the State of Georgia cost sharing benefit pension plan, as discussed in Note 11. \nIn addition to liabilities, the statement of net position and/or the balance sheet will report a separate section for deferred inflows of resources. This separate financial statement element represents an acquisition of resources that applies to a future period(s) and therefore will not be recognized as an inflow of resources until that time. Under the full accrual method of accounting, the System has reported the actuarial changes in the System's proportionate share of the State of Georgia cost sharing benefit pension plan, as discussed in Note 11. This item is reported only in the System-wide Statement of Net Position. \nGovernmental funds Additionally, the System has only one item, which arises only under a modified accrual basis of accounting that qualifies for reporting in this category. Accordingly, the item, unavailable revenue, is reported only in the governmental funds balance sheet. The governmental funds report unavailable revenues from property taxes and this amount is deferred and will be recognized as an inflow of resources in the period in which the amounts become available. \nPensions For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Teachers Retirement System of Georgia (TRS), Employees' Retirement System (ERS), and Public School Employees Retirement System (PSERS) and additions to/deductions from the respective plans' fiduciary net position have been determined on the same basis as they are reported by each. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are at fair value. The General Fund has been and will continue to be used to liquidate pension liabilities. \n-31- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nFund Balance In accordance with the requirements of GASB 54 \"Fund Balance Reporting and Governmental Fund Type Definitions\", the following classifications describe the relative strength of the spending constraints placed on the purposes for which resources can be used: - Nonspendable fund balance- amounts that are not in a spendable form or are required to \nbe maintained intact; - Restricted fund balance- amounts constrained to specific purposes by their providers \n(such as grantors, bondholders, and higher levels of government, through constitutional provisions, or by enabling legislation); - Committed fund balance- amounts that can be used only for specific purposes pursuant to constraints imposed by formal action of the Board of Education. The Board of Education is the System's highest level of decision-making authority, and the formal action that is required to be taken to establish, modify, or rescind a fund balance commitment is a resolution approved by the Board; - Assigned fund balance- amounts the System intends to use for a specific purpose; but are neither restricted nor committed. The Board of Education may assign fund balance. In addition, the Board has authorized the Superintendent or Chief Financial Officer to assign amounts to be used for specific purposes; - Unassigned fund balance- consists of resources within the general fund not meeting the definition of any aforementioned category. The general fund should be the only fund that reports a positive unassigned fund balance amount. In other governmental funds, it may be necessary to report a negative unassigned fund balance. \nThe Board establishes (and modifies or rescinds) fund balance commitments by taking formal action in the form of a resolution. A fund balance commitment is further indicated in the budget document as a designation or commitment of the fund (such as for special incentives). Assigned fund balance is established by the Board through adoption or amendment of the budget as intended for a specific purpose (such as the purchase of capital assets, construction, debt service, or for other purposes). When multiple categories of fund balance are available for expenditure, the System will start with the most restricted category and spend those funds first before moving down to the next category with available funds. \nE. Budgetary Information \nGeneral Budget Policies The System has a legally authorized appropriated budget which is formally approved by the Board at the aggregate level for each budgeted fund. Budgets are prepared to provide a basis for funding operations. There is no legal prohibition regarding over expenditure of the aggregate budget as long as there is an adequate available fund balance. \n-32- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 1: Summary of Significant Accounting Policies (Continued) \nThe budget process begins when the System's administration prepares a tentative aggregated budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper of general circulation in the locality. \nAt the next regular meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department of Education. From time to time, the budget is amended by Board approval at the fund level. \nThe System prepares its budgets on the modified accrual basis, which is the same basis it presents its fund financial statements. In addition, certain on-behalf payments for retirement benefits are not included in the general fund budget. The actual results on page 23 have, accordingly, been restated for comparative purposes. The System legally adopts budgets for its general fund, special revenue (excluding \"other funds\"), capital projects and debt service funds. \nEncumbrances Encumbrances represent commitments related to unperformed contracts for goods and services. Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure of resources recorded in order to reserve that portion of the applicable appropriation, is utilized by the System. Encumbrances outstanding at yearend are reported as assignments of fund balance since they do not constitute actual expenditures or liabilities. They are reappropriated in the subsequent fiscal year since appropriations lapse at year-end. \nNOTE 2: Deposits and Investments \nThe System maintains a cash and investment pool that is available for use by all governmental funds. Each fund type's portion of this pool is included in \"Cash and cash equivalents\". In addition, deposits are separately held by several of the System's funds. \nThe System has not adopted a formal investment policy. Most of the System's cash is invested in the State of Georgia Government Pool. Other investments consist of securities backed by Federal Government agencies and one-day repurchase agreements with local banks. The following pages will disclose deposit and investment risks that could affect the System's ability to provide services and meet its obligations as they become due. \n-33- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nNOTE 2: Deposits and Investments (Continued) \n \nCustodial Credit Risk  Deposits Custodial credit risk is the risk that in the event of a bank failure, the System's deposits may not be returned to it. The System does not have a deposit policy for custodial credit risk. The System's cash and cash equivalents are summarized below. All deposits are carried at cost plus accrued interest. \n \nDepository Accounts \nInsured Collateralized \nCollateral held by pledging bank's trust department in the System's name Local government investment pool \n \nBank Balance Book Balance $ 790,293 $ 790,293 \n \n13,757,818 40,143,723 \n \n10,010,762 40,143,723 \n \nTotal Deposits Less: Investments shown below \n \n54,691,834 (20,000) \n \n50,944,778 (20,000) \n \nNet cash and cash equivalents \n \n$ 54,671,834 $ 50,924,778 \n \nAgency funds had bank deposits totaling $222,116 as reported on the Statement of Fiduciary Assets and Liabilities. \nThe System's investment in the local government investment pool is comprised of Georgia Fund 1 and another local investment pool, which has not been categorized as to risk level because it is a pool managed by another government. Georgia Fund 1 is not registered with the SEC as an investment company and does not operate in a manner consistent with the SEC's Rule 2a-7 of the Investment Company Act of 1940. The investment is valued at the pool's share price, $1.00 per share, which approximates fair value. The pool is an AAAf rated investment pool by Standard and Poor's. The weighted average maturity of Georgia Fund 1 may not exceed 60 days. The weighted average maturity for Georgia Fund 1 on June 30, 2018, was 10 days. \nGeorgia Fund 1, administered by the State of Georgia, Office of the State Treasurer, is not required to be categorized since the School District did not own any specific identifiable securities in the pool. The investment policy of the State of Georgia, Office of the State Treasurer for the Georgia Fund 1, does not provide for investment in derivatives or similar investments. Additional information on the Georgia Fund 1 is disclosed in the State of Georgia Comprehensive Annual Financial Report. This audit can be obtained from the Georgia Department of Audits and Accounts at www.audits.ga.gov/SGD/CAFR.html. \n \n-34- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nNOTE 2: Deposits and Investments (Continued) \n \nCredit Risk, Concentration of Credit Risk, and Interest Rate Risk  Investments The System follows state law for its choices of investments. The System has few investments and chooses to disclose its investments by specifically identifying each. As of June 30, 2018, the System's investments were as follows: \n \nInvestment \n \nMaturities Fair Value \n \n% \n \nFirst National Bank - Certificate of Deposit \n \nFully matured \n \n20,000 100.00% \n \nTotal \n \n$ 20,000 100.00% \n \nState law limits investments in commercial paper and corporate bonds to the top two ratings issued by nationally recognized statistical rating organizations. The System has no investment policy that would further limit its investment choices. \n \nInterest Rate Risk - the System does not have a formal policy that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates. \n \nConcentration of Credit Risk - the System is not limited on the amount that may be invested in any one issuer. \n \nNOTE 3: Interfund Receivables, Payables and Transfers \n \nDuring the course of its operations, the School System makes transfers between funds to finance operations, provide services, acquire assets, and service debt. To the extent that certain transfers between funds have not been received as of year-end, balances of interfund amounts receivable or payable have been recorded. Outstanding balances between funds are reported as \"due to/from other funds.\" \n \nInterfund receivable and payable balances are as follows: \n \nReceivable Fund \n \nPayable Fund \n \nGeneral Fund \n \nNonmajor Governmental Funds \n \nCapital Projects Fund \n \nGeneral Fund \n \nAmount $ 1,098,149 \n2,490 \n \nThe general fund was due $1,098,149 and capital projects fund was due $2,490 from other special revenue funds to be repaid upon receipt of grant revenues. All interfund balances will be repaid in the next fiscal year. \n \n-35- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nNOTE 3: Interfund Receivables, Payables and Transfers (Continued) \n \nTransfers from/to other funds at June 30, 2018 are as follows: \n \nTransfers to \n \nTransfers from \n \nNonmajor Governmental Funds General Fund \n \nAmount $ 835,238 \n \nThese transfers are to cover overages from the operation of certain grants. NOTE 4: Capital Assets \n \nGovernmental capital asset activity for the year ended June 30, 2018 was as follows: \n \nBeginning \n \nEnding \n \nBalance \n \nIncreases \n \nDecreases \n \nTransfers \n \nBalance \n \nCapital assets, not being depreciated: Land Construction in progress Total capital assets, not being depreciated \n \n$ 3,360,708 $ \n \n0 $ \n \n14,352,409 5,240,891 \n \n17,713,117 5,240,891 \n \n0 $ \n \n0 \n \n0 (18,440,806) \n \n0 (18,440,806) \n \n3,360,708 1,152,494 \n4,513,202 \n \nCapital assets, being depreciated: \nBuildings Building improvements \n \n135,219,991 46,062,993 \n \n0 274,796 \n \n0 \n \n0 \n \n0 18,233,150 \n \n135,219,991 64,570,939 \n \nVehicles and equipment Total capital assets, being depreciated \n \n19,952,236 2,037,918 \n \n(660,453) \n \n207,656 \n \n21,537,357 \n \n201,235,220 2,312,714 \n \n(660,453) 18,440,806 221,328,287 \n \nLess accumulated depreciation for: Buildings Building improvements Vehicles and equipment Total accumulated depreciation \n \n(33,981,824) (6,772,733) \n(13,243,356) \n \n(1,754,253) (925,686) \n(1,424,095) \n \n(53,997,913) (4,104,034) \n \n0 0 660,453 \n660,453 \n \n0 (35,736,077) \n \n0 \n \n(7,698,419) \n \n0 (14,006,998) \n \n0 (57,441,494) \n \nTotal capital assets, being depreciated, net \n \n147,237,307 (1,791,320) \n \n0 18,440,806 163,886,793 \n \nCapital assets, net \n \n$ 164,950,424 $ 3,449,571 $ \n \n0 $ \n \n0 $ 168,399,995 \n \n-36- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nNOTE 4: Capital Assets (Continued) \n \nDepreciation expense was charged to functions/ programs of the primary government as follows: \n \nInstruction Improvement of instructional services Media services General and school administration Business Services Maintenance and operations Transporation Central support services School nutrition Unallocated depreciation \n \n$ 2,030,336 97,193 100,145 89,325 2,097 625,043 496,423 19,233 326,053 318,186 \n \nTotal depreciation expense \n \n$ 4,104,034 \n \nNOTE 5: Long-Term Debt \nBonds Payable In July 2015, the System issued $13,370,000 in General Obligation Sales Tax Bonds (the \"Bonds\") with interest rates ranging from 3.00% - 5.00%, based on current market rates. Interest is payable semi-annually beginning April 2016 and principal is due annually beginning in October 2018 with final payment due October 2020. The Bonds were issued to finance various planned construction activities for the System. The Bonds are direct and general obligations of the System. The System pays the principal and interest first from the System's portion of a 1 percent sales and use tax for educational purposes collected within the County. To the extent that the proceeds of the SPLOST are insufficient to make such payments, the principal and interest on the Bonds are payable from an ad valorem tax, unlimited as to rate or amount, to be levied upon all taxable property within the School System subject to taxation for school bond purposes. \n \n-37- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 5: Long-Term Debt (Continued) \nA summary of changes in bonds payable for the year ended June 30, 2018 follows: \n \nBalance June 30, 2017 2015 General Obligation $ 13,370,000 Unamortized bond premium 1,098,699 \n \nAdditions \n \n$ \n \n0 \n \n0 \n \nBalance Due within Deletions June 30, 2018 one year \n \n$ \n \n0 $ 13,370,000 $ 1,770,000 \n \n(338,061) \n \n760,638 \n \n0 \n \nTotal \n \n$ 14,468,699 $ \n \n0 $ (338,061) $ 14,130,638 $ 1,770,000 \n \nThe annual debt service requirements to maturity are as follows: \n \nYears Ending \nJune 30, \n \n2015 General Obligation \n \nPrincipal \n \nInterest \n \n2019 2020 2021 \n \n$ 1,770,000 4,900,000 6,700,000 \n$ 13,370,000 \n \n$ 582,550 433,500 155,500 \n$ 1,171,550 \n \nNOTE 6: Non-Monetary Transactions and On-Behalf Payments \nThe System received from the United States Department of Agriculture through the Georgia Department of Education approximately $521,670 in donated food commodities for its lunchroom programs. The federally assigned value of these commodities is reflected as revenues and expenditures in the Other Governmental Funds. \nThe Georgia Department of Education paid $6,305 to the Teachers Retirement System and $249,116 to the Public School Employee Retirement System on behalf of the System for the fiscal year ending June 30, 2018. These on-behalf payments were for health insurance and retirement contributions and were reported in the General Fund as both revenues and expenditures. \n \n-38- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nNOTE 7: Special Purpose Local Option Sales Tax (SPLOST) \n \nOn March 20, 2007, the voters of Spalding County authorized the imposition of a Special Purpose Local Option Sales Tax (SPLOST) effective July 1, 2007. The sales tax was authorized for a maximum period of time not to exceed five years for the purpose of raising not more than $57,000,000, although the SPLOST only generated $42,783,556. Total expenditures of 2007 SPLOST proceeds incurred in 2018 were $452,001. The funds were used to fund school improvements. \n \nOn March 6, 2012, the voters of Spalding County authorized the SPLOST to be reimposed effective July 1, 2012. The reimposed sales tax was authorized for a maximum period of time not to exceed three years for the purpose of raising not more than $30,000,000, although the SPLOST only generated $25,332,346. Total expenditures of 2012 SPLOST proceeds incurred in 2017 were $73,161. The funds generated by the sales tax were used to renovate, remove, repair, improve, and equip existing school facilities and acquire systemwide technology improvements. \n \nOn March 17, 2015, the voters of Spalding County authorized the SPLOST to be reimposed effective July 1, 2015. The reimposed sales tax was authorized for a maximum period of time not to exceed five years for the purpose of raising not more than $50,000,000. Total expenditures of 2015 SPLOST proceeds incurred in 2018 were $7,392,336. The funds generated by the sales tax will be used to renovate, remove, repair, improve, and equip existing school facilities, acquire system-wide technology improvements and refurbish and renovate school buses. \n \nThe status of the SPLOST projects are as follows: \n \n2012 SPLOST \n \nAnticipated proceeds, as originally projected $ 30,000,000 \n \nAmount not yet collected \n \n(4,667,654) \n \nAmount collected through June 30, 2018 \n \n$ 25,332,346 \n \n2015 SPLOST $ 50,000,000 \n(23,623,201) $ 26,376,799 \n \nAmounts expended in previous years Amounts expended in current year Amounts expended to date \n \n$ 23,391,945 73,161 \n$ 23,465,106 \n \n$ 15,745,693 7,392,336 \n$ 23,138,029 \n \nNOTE 8: Risk Management \nThe System is exposed to various risks of loss related to torts: theft of loss, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disaster. The System has established a limited risk management program for Workers' Compensation. \n \n-39- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nNOTE 8: Risk Management (Continued) \n \nEstimated claims are budgeted by management based on known claims and prior experience. An excess coverage insurance policy covers aggregate claims in excess of $500,000 up to $1,000,000. \n \nClaims and associated expenses incurred during the fiscal years 2018, 2017 and 2016 are shown below. Outstanding year end liabilities are considered to be immaterial. \n \nYear 2018 2017 2016 \n \nBalance July 1, 2017 \n \n$ \n \n0 \n \n$ \n \n0 \n \n$ \n \n0 \n \nCurrent Year Claims Accrued \n \n$ \n \n250,012 \n \n$ \n \n298,750 \n \n$ \n \n387,641 \n \nUnpaid \n \nCurrent Year \n \nBalance \n \nClaims Paid June 30, 2018 \n \n$ (250,012) $ \n \n0 \n \n$ (298,750) $ \n \n0 \n \n$ (387,641) $ \n \n0 \n \nThe System participates in Georgia School Boards Association Risk Management Fund for property and liability insurance. Coverage for losses arising from certain liability and property risks to the System is provided through a group self-insurance plan. For accounting purposes this plan is considered to be a Risk Transfer Pool. Under this plan, the System is responsible for the first $5,000 of each property loss, $5,000 of each machinery breakdown loss, $1,000 of auto physical damage loss, and the first $10,000 of each liability claim. The plan assumes certain risks of the System in excess of state retentions up to certain customary coverage limits. The System is required to make a financial contribution to the plan each year in an amount determined on the basis of actuarial projections of losses. \nSettled claims have not exceeded insurance coverage in any of the past three years nor has the System significantly reduced coverage for these risks. \nNOTE 9: Contingencies and Commitments \nThe System is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine System operations. It is the opinion of management and legal counsel that the System has adequate legal defenses or insurance coverage and these actions will not materially affect the System's results of operations or financial position. \nAt June 30, 2018, the System's future construction commitments consist of additions to various schools in the amount of approximately $4,996,469. At June 30, 2018, the System had no significant encumbrances. \n \n-40- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 10:Tax Abatements \nSpalding County enters into property tax abatement agreements with local businesses for the purpose of attracting or retaining businesses within their jurisdictions. The abatements may be granted to any business located or promising to relocate to Spalding County. \nFor the fiscal year ended June 30, 2018, Spalding County abated real and personal property taxes due to the System that were levied on August 21, 2017 and due on November 15, 2017 totaling $407,800 for real property and $508,318 for personal property. Included in the amount abated, the following are individual tax abatement agreements that each exceeded 10% of the total amount abated: \n- a 20% real property tax abatement totaling $15,672 and a 20% personal property tax abatement totaling $17,191 to a manufacturing company, \n- a 60% real property tax abatement totaling $10,443 and a 60% personal property tax abatement totaling $18,808 to a hospital and warehousing company, \n- a 90% real property tax abatement totaling $52,904 and a 90% personal property tax abatement totaling $62,174 to a manufacturing company, \n- a 100% real property tax abatement totaling $100,047 and a 100% personal property tax abatement totaling $284,032 to a joint development authority, education service agency, and manufacturing company, \n- personal property tax abatements ranging from 20%-100% to a large equipment company totaling $59,246, \n- a 10% real property tax abatement totaling $9,888 to a manufacturing company, - an 86% real property tax abatement totaling $155,780 to a manufacturing company, - a 75% personal property tax abatement to a manufacturing company totaling \n$13,718, and - an 80% personal property tax abatement totaling $53,149 to a warehousing \ncompany. \nNOTE 11:Retirement Plans \nThe System participates in various retirement plans administered by the State of Georgia, as further explained below. \nTeachers Retirement System (TRS) \nPlan description: All teachers of the System as defined in 47-3-60 of the Official Code of Georgia Annotated (OCGA) and certain other support personnel as defined by 47-3-63 are provided a pension through the Teachers Retirement System of Georgia (TRS). TRS, a cost-sharing multiple-employer defined benefit pension plan, is administered by the TRS \n-41- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 11:Retirement Plans (Continued) \nBoard of Trustees (TRS Board). Title 47 of the OCGA, assigns the authority to establish and amend benefit provisions to the State Legislature. TRS issues a publicly available financial report that can be obtained at www.trsga.com/publications. \nBenefits provided: TRS provides service retirement, disability retirement, and death benefits. Normal retirement benefits are determined as 2% of the average of the employee's two highest paid consecutive years of service, multiplied by the number of years of creditable service up to 40 years. An employee is eligible for normal service retirement after 30 years of creditable service, regardless of age, or after 10 years of service and attainment of age 60. Ten years of service is required for disability and death benefits eligibility. Disability benefits are based on the employee's creditable service and compensation up to the time of disability. Death benefits equal the amount that would be payable to the employee's beneficiary had the member retired on the date of death. Death benefits are based on the employee's creditable service and compensation up to the date of death. \nContributions: Per Title 47 of the OCGA, contribution requirements of active employees and participating employers, as actuarially determined, are established and may be amended by the TRS Board. Pursuant to OCGA 47-3-63, the employer contributions for certain full-time public school support personnel are funded on behalf of the employer by the State of Georgia. Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. Employees were required to contribute 6% of their annual pay during fiscal year 2018. The System's contractually required contribution rate for the year ended June 30, 2018 was 16.81% excluding payroll attributable to those personnel funded on behalf of the School District by the state. For the year ended June 30, 2018, the System's contributions to TRS were $9,775,004 and $6,305 from the System and the State, respectively. \nEmployees Retirement System (ERS) \nPlan description: ERS is a cost-sharing multiple-employer defined benefit pension plan established by the Georgia General Assembly during the 1949 Legislative Session for the purpose of providing retirement allowances for employees of the State of Georgia and its political subdivisions. ERS is directed by a Board of Trustees. Title 47 of the O.C.G.A. assigns the authority to establish and amend the benefit provisions to the State Legislature. ERS issues a publicly available financial report that can be obtained at www.ers.ga.gov/formspubs/formspubs. \n-42- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 11:Retirement Plans (Continued) \nBenefits Provided: The ERS Plan supports three benefit tiers: Old Plan, New Plan, and Georgia State Employees' Pension and Savings Plan (GSEPS). Employees under the old plan started membership prior to July 1, 1982 and are subject to plan provisions in effect prior to July 1, 1982. Members hired on or after July 1, 1982 but prior to January 1, 2009 are new plan members subject to modified plan provisions. Effective January 1, 2009, new state employees and rehired state employees who did not retain membership rights under the Old or New Plans are members of GSEPS. ERS members hired prior to January 1, 2009 also have the option to irrevocably change their membership to GSEPS. Under the old plan, the new plan, and GSEPS, a member may retire and receive normal retirement benefits after completion of 10 years of creditable service and attainment of age 60 or 30 years of creditable service regardless of age. Additionally, there are some provisions allowing for early retirement after 25 years of creditable service for members under age 60. \nRetirement benefits paid to members are based upon the monthly average of the member's highest 24 consecutive calendar months, multiplied by the number of years of creditable service, multiplied by the applicable benefit factor. Annually, postretirement cost-of-living adjustments may also be made to members' benefits, provided the members were hired prior to July 1, 2009. The normal retirement pension is payable monthly for life; however, options are available for distribution of the member's monthly pension, at reduced rates, to a designated beneficiary upon the member's death. Death and disability benefits are also available through ERS. \nContributions: Member contributions under the old plan are 4% of annual compensation, up to $4,200, plus 6% of annual compensation in excess of $4,200. Under the old plan, the state pays member contributions in excess of 1.25% of annual compensation. Under the old plan, these state contributions are included in the members' accounts for refund purposes and are used in the computation of the members' earnable compensation for the purpose of computing retirement benefits. Member contributions under the new plan and GSEPS are 1.25% of annual compensation. The System's contractually required contribution rate, actuarially determined annually, for the year ended June 30, 2018 was 20.06% of annual covered payroll for old plan and 24.81% of annual covered payroll for new plan members. The System's contributions to ERS were $32,071 for the year ended June 30, 2018. Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. \n-43- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 11:Retirement Plans (Continued) \nPublic School Employees Retirement System (PSERS) \nPlan description: PSERS is a cost-sharing multiple-employer defined benefit pension plan established by the Georgia General Assembly in 1969 for the purpose of providing retirement allowances for public school employees who are not eligible for membership in the Teachers Retirement System of Georgia. The ERS Board of Trustees, plus two additional trustees, administers PSERS. Title 47 of the OCGA assigns the authority to establish and amend the benefit provisions to the State Legislature. PSERS issues a publicly available financial report that can be obtained at www.ers.ga.gov/formspubs/formspubs. \nBenefits provided: A member may retire and elect to receive normal monthly retirement benefits after completion of ten years of creditable service and attainment of age 65. A member may choose to receive reduced benefits after age 60 and upon completion of ten years of service. \nUpon retirement, the member will receive a monthly benefit of $14.75, multiplied by the number of years of creditable service. Death and disability benefits are also available through PSERS. Additionally, PSERS may make periodic cost-of-living adjustments to the monthly benefits. Upon termination of employment, member contributions with accumulated interest are refundable upon request by the member. However, if an otherwise vested member terminates and withdraws his/her member contribution, the member forfeits all rights to retirement benefits. \nContributions: The general assembly makes an annual appropriation to cover the employer contribution to PSERS on behalf of local school employees (bus drivers, cafeteria workers, and maintenance staff). The annual employer contribution required by statute is actuarially determined and paid directly to PSERS by the State Treasurer in accordance with OCGA 47-4-29(a) and 60(b). Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. \nIndividuals who became members prior to July 1, 2012 contribute $4 per month for nine months each fiscal year. Individuals who became members on or after July 1, 2012 contribute $10 per month for nine months each fiscal year. The State of Georgia, although not the employer of PSERS members, is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS Board of Trustees. The contribution by the State for the year ended June 30, 2018 amounted to $249,116. \n-44- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 11:Retirement Plans (Continued) \nPension liabilities, Pension expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions \nAt June 30, 2018, the System reported a liability of $91,097,553 for its proportionate share of the net pension liability for TRS ($90,888,475) and ERS ($209,078). The TRS net pension liability reflected a reduction for support provided to the System by the State of Georgia for certain public school support personnel. \nThe amount recognized by the System as its proportionate share of the net pension liability, the related State of Georgia support, and the total portion of the net pension liability that was associated with the System were as follows: \n \nSystem's proportionate share of the net pension liability \nState of Georgia's proportionate share of the net pension liability associated with the System \nTotal \n \nTRS \n \nERS \n \nPSERS \n \nTotal \n \n$ 90,888,475 $ 209,078 $ \n \n0 $ 91,097,553 \n \n96,829 \n \n0 1,257,961 \n \n1,354,790 \n \n$ 90,985,304 $ 209,078 $ 1,257,961 $ 92,452,343 \n \nThe net pension liability for TRS and ERS was measured as of June 30, 2017. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2016. An expected total pension liability as of June 30, 2017 was determined using standard roll-forward techniques. The System's proportion of the net pension liability was based on contributions during the fiscal year ended June 30, 2017. At June 30 2017, the System's proportion was .489034% for TRS and .005148% for ERS, which was an increase (decrease) of .001892% for TRS and .000143% for ERS from its proportion measured as of June 30, 2016. \nAt June 30, 2018, the System did not have a PSERS liability for a proportionate share of the net pension liability because of a Special Funding Situation with the State of Georgia, which is responsible for the net pension liability of the plan. The amount of the State's proportionate share of the net pension liability associated with the System is $1,257,961. \nThe PSERS net pension liability was measured as of June 30, 2017. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2016. An expected total pension liability as of June 30, 2017 was determined using standard roll-forward techniques. The State's proportion of the net pension liability associated with the System was based on actuarially determined contributions paid by the State during the year ended June 30, 2017. \n \n-45- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 11:Retirement Plans (Continued) \nFor the year ended June 30, 2018, the System recognized total net pension expense of $10,014,880 for its proportionate share of which $9,729,259 was for TRS, $32,093 for ERS and $253,528 for PSERS and total revenue of $278,550 of which $25,022 was for TRS and $253,528 for PSERS. The revenue is support provided by the State of Georgia. For TRS, the State of Georgia support is provided only for certain support personnel. \nAt June 30, 2018, the System reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: \n \nDifferences between expected and actual experience Changes in assumption \nNet difference between projected and actual earnings on pension plan investments \nChanges in proportion and differences between Employer contributions and proportionate share of contributions \nEmployer contributions subsequent to the measurement date \nTotal \n \nTRS \n \nDeferred Outflows of Resources \n \nDeferred Inflows of Resources \n \nERS \n \nDeferred Outflows of Resources \n \nDeferred Inflows of Resources \n \n$ 3,399,789 $ 343,004 $ 2,291 $ \n \n2 \n \n1,992,388 \n \n0 \n \n476 \n \n0 \n \n0 \n \n625,465 \n \n0 \n \n521 \n \n262,849 \n \n596,123 \n \n3,738 \n \n9,775,004 \n \n0 \n \n$ 15,430,030 $ 1,564,592 $ \n \n32,071 38,576 $ \n \n3,714 0 \n4,237 \n \n-46- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 11:Retirement Plans (Continued) \nSystem contributions subsequent to the measurement date of $9,775,004 for TRS and $32,071 for ERS are reported as deferred outflows of resources and will be recognized as a reduction of the net pension liability in the year ended June 30, 2017. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: \n \nYear ended June 30: 2018 2019 2020 2021 2022 Thereafter \nTotal \n \nTRS \n \nERS \n \n$ (816,025) $ 4,670,028 2,446,631 (2,271,589) 61,389 0 \n$ 4,090,434 $ \n \n(1,038) 6,888 2,347 (5,929) \n0 0 2,268 \n \nActuarial assumptions: The total pension liability was determined by an actuarial valuation as of June 30, 2016, using the following actuarial assumptions, applied to all periods included in the measurement: \n \nInflation Salary increase (average, including \ninflation) \nInvestment rate of return (net of pension plan investment expense, including inflation) \n \nTRS 2.75% \n \nERS \n \nPSERS \n \n2.75% \n \n2.75% \n \n3.75 - 9.00% 3.25 -7.00% \n \nN/A \n \n7.50% \n \n7.50% \n \n7.50% \n \nFor TRS, mortality rates were based on the RP-2000 Combined Mortality Table for Males or Females set back two years for males and set back three years for females. \nFor ERS, mortality rates were based on the RP-2000 Combined Mortality Table for the periods after service retirement, for dependent beneficiaries, and for deaths in active service, and the RP-2000 Disabled Mortality Table set back eleven years for males for the period after disability retirement. \nFor PSERS, mortality rates were based on the RP-2000 Combined Mortality Table set forward one year for males for the period after service retirement, for dependent \n \n-47- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nNOTE 11:Retirement Plans (Continued) \n \nbeneficiaries, and for deaths in active service, and the RP-2000 Disabled Mortality Table set back two years for males and set forward one year for females for the period after disability retirement. \n \nThe actuarial assumptions used in the June 30, 2017 valuation were based on the results of an actuarial experience study for the period July 1, 2010  June 30, 2015. \n \nThe long-term expected rate of return on TRS, ERS and PSERS pension plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected nominal returns, net of pension plan investment expense and the assumed rate of inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. \n \nThe target asset allocation and best estimates of arithmetic real rates of return for each \nmajor asset class are summarized in the following table: \nLong-term \n \nTarget expected real \n \nAsset Class \n \nAllocation rate of return* \n \nFixed income \n \n30.00% \n \n-0.50% \n \nDomestic large stocks \n \n37.20% \n \n9.00% \n \nDomestic mid stocks \n \n3.40% \n \n12.00% \n \nDomestic small stocks \n \n1.40% \n \n13.50% \n \nInternational developed market stocks \n \n17.80% \n \n8.00% \n \nInternational emerging market stocks \n \n5.20% \n \n12.00% \n \nAlternatives \n \n5.00% \n \n10.50% \n \nTotal \n \n100.00% \n \n*Rates shown are net of the 2.75% assumed rate of inflation \nDiscount rate: The discount rate used to measure the total TRS, ERS, and PSERS pension liability was 7.50% for both the current and prior measurement dates. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rate and that employer and State of Georgia contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions, the TRS, ERS, and PSERS pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term \n \n-48- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 11:Retirement Plans (Continued) \nexpected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. \nSensitivity of the System's proportionate share of the net pension liability to changes in the discount rate: The following presents the System's proportionate share of the net pension liability calculated using the discount rate of 7.50%, as well as what the System's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower (6.50%) or 1-percentage-point higher (8.50%) than the current rate: \n \nEmployer's proportionate share of the net pension liability \n \n1% Decrease (6.50%) \n \nTRS \nCurrent discount \nrate (7.50%) \n \n1% Increase (8.50%) \n \n1% Decrease (6.50%) \n \nERS \nCurrent discount \nrate (7.50%) \n \n1% Increase (8.50%) \n \n149,158,651 90,888,475 42,886,947 295,103 209,078 135,696 \n \nPension plan fiduciary net position: Detailed information about the pension plan's fiduciary net position is available in the separately issued TRS, ERS, and PSERS financial report which is publically available at www.trsga.com/publications and www.ers.ga.gov/formspubs/formspubs. \nSupplemental Retirement Plan- Public School Employees' Retirement System Only \nPlan Description: All employees participating in the Public School Employees' Retirement System are also eligible to participate in the System's Supplemental Retirement Plan. The Board of Education recognized that PSERS was a limited defined benefit plan which did not provide for an adequate retirement for this group of employees and thus established this Plan in 2016 to supplement the retirement for this group of employees. \nThis Plan, as a defined contribution plan, puts 3% of salary for all PSERS employees into a 403(b) type plan. The plan requires 36 months of service or meeting normal retirement age to vest 100% in the employer portion. Failure to complete the 36 month vesting requirement will result in forfeiture of the employer contributions. The employee contributions will be refunded 100%, if the vesting requirement is not met. \n \n-49- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 11:Retirement Plans (Continued) \nFunds accumulated in the employer paid accounts are only available to the employee upon termination of employment and 3 years of service to the System. If an employee terminates employment prior to achieving 3 years of service, funds paid on behalf of the non-vested employee are credited back to the System. \nValic Retirement Services is the supplemental plan provider and National Benefit Services, LLC, has been set up as the third party administrator. The plan offers an investment menu from which the employees may select their investment mix. \nFunding Policy: the System contributes 3% of the employee's monthly compensation for all eligible employees. Contributions are sent monthly to the third party administrator to be invested based upon the employee's investment choices. \nThe System's contributions to the Supplemental Retirement Plan for the fiscal year ending June 30, 2018 were $155,695. \nNOTE 12: Other Post-Employment Benefits (OPEB) \nGeorgia School Personnel Post-employment Health Benefit Fund \nPlan Description: Certified teachers and non-certified public school employees of the School District as defined in 20-2-875 of the Official Code of Georgia Annotated (O.C.G.A.) are provided OPEB through the School OPEB Fund - a cost-sharing multipleemployer defined benefit postemployment healthcare plan, reported as an employee trust fund and administered by a Board of Community Health (Board). Title 20 of the O.C.G.A. assigns the authority to establish and amend the benefit terms of the group health plan to the Board. \nBenefits Provided: The School OPEB Fund provides healthcare benefits for retirees and their dependents due under the group health plan for public school teachers, including librarians, other certified employees of public schools, regional educational service agencies and non-certified public school employees. Retiree medical eligibility is attained when an employee retires and is immediately eligible to draw a retirement annuity from Employees' Retirement System (ERS), Georgia Judicial Retirement System (JRS), Legislative Retirement System (LRS), Teachers Retirement System (TRS) or Public School Employees Retirement System (PSERS). If elected, dependent coverage starts on the same day as retiree coverage. Medicare-eligible retirees are offered Standard and Premium Medicare Advantage plan options. Non-Medicare eligible retiree plan options include Health Reimbursement Arrangement (HRA), Health Maintenance Organization (HMO) and a High Deductible Health Plan (HDHP). The School OPEB Fund also pays for \n-50- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 NOTE 12: Other Post-Employment Benefits (OPEB) (Continued) administrative expenses of the fund. By law, no other use of the assets of the School OPEB Fund is permitted. Contributions: As established by the Board, the School OPEB Fund is substantially funded on a pay-as-you-go basis; that is, annual cost of providing benefits will be financed in the same year as claims occur. Contributions to the School OPEB Fund from the School District were $2,106,186 for the year ended June 30, 2018. Active employees are not required to contribute to the School OPEB Fund. OPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB At June 30, 2018, the School District reported a liability of $90,431,161 for its proportionate share of the net OPEB liability. The net OPEB liability was measured as of June 30, 2017. The total OPEB liability used to calculate the net OPEB liability was based on an actuarial valuation as of June 30, 2016. An expected total OPEB liability as of June 30, 2017 was determined using standard roll-forward techniques. The School District's proportion of the net OPEB liability was actuarially determined based on employer contributions during the fiscal year ended June 30, 2017. At June 30, 2017, the School District's proportion was .643640%, which was an increase of .002030% from its proportion measured as of June 30, 2016. \n-51- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nNOTE 12: Other Post-Employment Benefits (OPEB) (Continued) \n \nFor the year ended June 30, 2018, the School District recognized OPEB expense of $5,303,375. At June 30, 2018, the School District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: \n \nOPEB \n \nDeferred \n \nDeferred \n \nOutflows of \n \nInflows of \n \nResources \n \nResources \n \nDifferences between expected and actual experience Changes in Assumptions Net difference between projected and actual earnings on OPEB plan investments Changes in proportion and differences between School District contributions and proportionate share of contributions \nSchool District contributions subsequent to the measurement date \nTotal \n \n$ \n \n0 \n \n0 \n \n26,450 \n \n254,990 \n2,106,186 $ 2,387,626 \n \n$ \n \n0 \n \n6,886,102 \n \n0 \n \n0 \n0 $ 6,886,102 \n \nSchool District contributions subsequent to the measurement date of $2,106,186 are reported as deferred outflows of resources and will be recognized as a reduction of the net OPEB liability in the year ended June 30, 2019. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: \n \nYear ended June 30: 2019 2020 2021 \n2022 \n2023 Thereafter \n \nOPEB \n$ (1,186,034) (1,186,034) (1,186,034) (1,186,034) (1,192,647) (667,879) \n \n-52- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nNOTE 12: Other Post-Employment Benefits (OPEB) (Continued) \n \nActuarial assumptions: The total OPEB liability as of June 30, 2017 was determined by an actuarial valuation as of June 30, 2016 using the following actuarial assumptions and other inputs, applied to all periods included in the measurement and rolled forward to the measurement date of June 30, 2017: \n \nOPEB: \nInflation \nSalary increases ERS JRS LRS TRS PSERS \nLong-term expected rate of return \nHealthcare cost trend rate Pre-Medicare Eligible Medicare Eligible \nUltimate trend rate Pre-Medicare Eligible Medicare Eligible \nYear of Ultimate trend rate \n \n2.75% \n3.25% - 7.00%, average, including inflation 4.50%, including inflation 4.50%, including inflation None 3.25 - 9.00%, including inflation N/A \n3.88%, compounded annually, net of investment expense, and including inflation \n7.75% 5.75% \n5.00% 5.00% \n2022 \n \nMortality rates were based on the RP2000 Combined Mortality Table for Males or Females, as appropriate, with adjustments for mortality improvements based on Scale BB as follows: \nx For ERS, JRS and LRS members: The RP-2000 Combined Mortality Table projected to 2025 with projection scale BB and set forward 2 years or both males and females is used for the period after service retirement and for dependent beneficiaries. The RP-2000 Disabled Mortality Table projected to 2025 with projection scale BB and set back 7 years for males and set forward 3 years for females is used for the period after disability retirement. \n \n-53- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 12: Other Post-Employment Benefits (OPEB) (Continued) \nx For TRS members: The RP-2000 White Collar Mortality Table projected to 2025 with projection scale BB (set forward 1 year for males) is used for death after service retirement and beneficiaries. The RP-2000 Disabled Mortality Table projected to 2025 with projection scale BB (set forward two years for males and four years for females) is used for death after disability retirement. \nx For PSERS members: The RP-2000 Blue-Collar Mortality Table projected to 2025 with projection scale BB (set forward 3 years for males and 2 years for females) is used for the period after service retirement and for beneficiaries of deceased members. The RP-2000 Disabled Mortality Table projected to 2025 with projection scale BB (set forward 5 years for both males and females) is used for the period after disability retirement. \nThe actuarial assumptions used in the June 30, 2016 valuation were based on the results of an actuarial experience study for the pension systems, which covered the five-year period ending June 30, 2014. \nProjection of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of the calculation. \nAdditionally, there was a change that affected measurement of the total OPEB liability since the prior measurement date. The methodology used to determine employee and retiree participation in the School OPEB Fund is based on their current or last employer payroll location. Current and former employees of public school districts, libraries, regional educational service agencies and community colleges are allocated to the School OPEB Fund irrespective of retirement system affiliation. \nThe longterm expected rate of return on OPEB plan investments was determined using a lognormal distribution analysis in which bestestimate ranges of expected future real rates of return (expected nominal returns, net of investment expense and the assumed rate of inflation) are developed for each major asset class. These ranges are combined to produce the longterm expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table: \n-54- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nNOTE 12: Other Post-Employment Benefits (OPEB) (Continued) \n \nThe target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table: \n \nAsset class \nFixed income Agency U.S. Treasury Cash Asset Backed Securities \nTotal \n \nOPEB Target allocation \n18.05% 9.27% \n70.40% 2.28% \n100.00% \n \nDiscount rate: In order to measure the total OPEB liability for the School OPEB Fund, a single equivalent interest rate of 3.58% was used as the discount rate. This is comprised mainly of the yield or index rate for 20 year tax-exempt general obligation municipal bonds with an average rating of AA or higher (3.56% per the Bond Buyers Index). The projection of cash flows used to determine the discount rate assumed that contributions from members and from the employer will be made at the current level as averaged over the last five years, adjusted for annual projected changes in headcount. Projected future benefit payments for all current plan members were projected through 2115. Based on these assumptions, the OPEB plan's fiduciary net position was projected to be available to make OPEB payments for inactive employees through year 2029. Therefore, the calculated discount rate of 3.58% was applied to all periods of projected benefit payments to determine the total OPEB liability. \n \n-55- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nNOTE 12: Other Post-Employment Benefits (OPEB) (Continued) \n \nSensitivity of the District's proportionate share of the net OPEB liability to changes in the discount rate: The following presents the School District's proportionate share of the \nnet OPEB liability calculated using the discount rate of 3.58%, as well as what the \nDistrict's proportionate share of the net OPEB liability would be if it were calculated using a discount rate that is 1percentagepoint lower (2.58%) or 1 percentagepoint higher (4.58%) than the current discount rate: \n \nNet OPEB Liability (asset) \n \n1% Decrease (2.58%) \n107,370,804 \n \nCurrent Discount Rate \n(3.58%) \n90,431,161 \n \n1% Increase (4.58%) \n77,062,351 \n \nSensitivity of the District's proportionate share of the net OPEB liability to changes in the healthcare cost trend rates: The following presents the School District's proportionate share of the net OPEB liability, as well as what the School District's proportionate share of the net OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower or 1-percentage-point higher than the current healthcare cost trend rates: \n \n1% Decrease \n \nCurrent Healthcare Cost \nTrend Rate \n \n1% Increase \n \nNet OPEB Liability (asset) \n \n74,957,130 \n \n90,431,161 110,578,326 \n \nOPEB plan fiduciary net position: Detailed information about the OPEB plan's fiduciary net position is available in the Comprehensive Annual Financial Report (CAFR) which is publicly available at https://sao.georgia.gov/comprehensive-annual-financial-reports. \n \n-56- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 13: Restatement of Prior Year Net Position \nFor fiscal year 2018, the School District made prior period adjustments due to the adoption of GASB Statement No. 75, as described in \"New Accounting Pronouncements\", which require the restatement of the June 30, 2017, net position in Governmental Activities. The result is a decrease in net position at July 1, 2017 of $98,444,424. This change is in accordance with generally accepted accounting procedures. \n \nNet Position, July 1, 2017 as previously reported Pior period adjustment - Implementation of GASB No. 75: Net OPEB liability (measurement date) \nDeferred outflows - School District's Contributions made during fiscal year 2017 Net Position balance, July 1, 2017, as restated \n \n$ \n \n122,669,053 \n \n95,088,436 \n \n3,355,988 \n \n$ \n \n30,936,605 \n \n-57- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nREQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF NET PENSION LIABILITY \nDEFINED BENEFIT PENSION PLANS FOR THE YEAR ENDED JUNE 30, 2018 \n \nSystem's proportion of the net pension liability System's proportionate share of the net pension liability State of Georgia's proportionate share of the net pension \nliabilty associated with the System System's covered-employee payroll System's proportionate share of the net pension liability \nas a percentage of its covered-employee payroll \nPlan fiduciary net position as a percentage of the total pension liability \n \n2018 \n \nTRS \n \n2017 \n \n2016 \n \n2015 \n \n0.489034% 0.487142% 0.489235% 49.251000% 90,888,475 100,502,826 74,481,171 62,063,084 \n \n96,829 \n \n110,995 \n \n93,019 \n \n148,698 \n \n56,151,054 53,473,168 51,677,582 50,116,513 \n \n161.86% 79.33% \n \n187.95% 76.06% \n \n144.13% 81.44% \n \n123.84% 84.03% \n \nSystem's proportion of the net pension liability System's proportionate share of the net pension liability State of Georgia's proportionate share of the net pension \nliabilty associated with the System \nSystem's covered-employee payroll System's proportionate share of the net pension liability \nas a percentage of its covered-employee payroll \nPlan fiduciary net position as a percentage of the total pension liability \n \n2018 0.005148% \n209,078 \n \nERS \n \n2017 \n \n2016 \n \n0.005291% 0.004636% \n \n250,287 \n \n187,823 \n \n2015 0.452300% \n169,640 \n \n0 126,264 \n \n0 123,014 \n \n0 105,989 \n \n0 101,849 \n \n165.59% 76.33% \n \n203.46% 72.34% \n \n177.21% 76.20% \n \n166.56% 77.99% \n \nSystem's proportion of the net pension liability System's proportionate share of the net pension liability \nState of Georgia's proportionate share of the net pension liabilty associated with the System \nSystem's covered-employee payroll System's proportionate share of the net pension liability \nas a percentage of its covered-employee payroll Plan fiduciary net position as a percentage of the total \npension liability \n \n2018 N/A 0 \n \nPSERS \n \n2017 N/A 0 \n \n2016 N/A 0 \n \n2015 N/A 0 \n \n1,257,961 4,910,563 \n \n1,654,512 5,098,826 \n \n1,106,184 4,820,391 \n \n943,529 4,955,076 \n \nN/A \n \nN/A \n \nN/A \n \nN/A \n \n86.00% \n \n81.00% \n \n87.00% \n \n88.29% \n \nNote: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they become available. \n \n-58- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nREQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF COLLECTIVE NET OPEB LIABILITY \nFOR THE YEAR ENDED JUNE 30, 2018 \n \nSystem's proportion of the collective net OPEB liability System's proportionate share of the collective net OPEB liability System's covered-employee payroll System's proportionate share of the collective net OPEB as a \npercentage of its covered payroll Plan fiduciary net position as a percentage of the total \ncollective OPEB liability \n \nOPEB 2018 .643640% 90,431,161 61,187,881 \n147.79% \n79.33% \n \nNote: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they become available. \n \n-59- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nREQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CONTRIBUTIONS \nDEFINED BENEFIT PENSION PLANS FOR THE YEAR ENDED JUNE 30, 2018 \n \n2018 \n \nTRS \n \n2017 \n \n2016 \n \n2015 \n \nContractually required contribution Contributions in relation to the contractually required contribution Contribution deficiency (excess) \nSystem's covered-employee payroll Contributions as a percentage of covered-employee payroll \n \n$ 9,775,004 $ 8,012,744 $ 7,630,622 $ 6,795,397 9,775,004 8,012,744 7,630,622 6,795,397 \n \n$ \n \n0$ \n \n0$ \n \n0$ \n \n0 \n \n$ 58,151,431 $ 56,151,054 $ 53,473,168 $ 51,677,582 \n \n16.81% \n \n14.27% \n \n14.27% \n \n13.15% \n \n2018 \n \nERS \n \n2017 \n \n2016 \n \n2015 \n \nContractually required contribution Contributions in relation to the contractually required contribution Contribution deficiency (excess) \nSystem's covered-employee payroll Contributions as a percentage of covered-employee payroll \n \n$ 32,071 $ 31,326 $ 30,409 $ 23,275 \n \n32,071 \n \n31,326 \n \n30,409 \n \n23,275 \n \n$ \n \n0$ \n \n0$ \n \n0$ \n \n0 \n \n$ 129,267 $ 126,264 $ 123,014 $ 105,989 \n \n24.81% \n \n24.81% \n \n24.72% \n \n21.96% \n \nNote: Schedule is intended to show information for the last 10 fiscal years. Additional years will displayed as they become available. \n \n-60- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nREQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CONTRIBUTIONS OPEB \nFOR THE YEAR ENDED JUNE 30, 2018 \n \nOPEB 2018 \n \nContractually required contribution Contributions in relation to the contractually required contribution Contribution deficiency (excess) \nSystem's covered-employee payroll Contributions as a percentage of covered-employee payroll \n \n$ 2,106,186 2,106,186 \n \n$ \n \n0 \n \n$ 61,187,881 3.44% \n \nNote: Schedule is intended to show information for the last 10 fiscal years. Additional years will displayed as they become available. \n \n-61- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO REQUIRED SUPPLEMENTARY INFORMATION FOR THE YEAR ENDED JUNE 30, 2018 \nRetirement Systems \nChanges of assumptions: For TRS, in 2010 and later, the expectation of retired life mortality was changed to the RP-2000 Mortality Tables rather than the 1994 Group Annuity Mortality Table, which was used prior to 2010. In 2010, rates of withdrawal, retirement, disability and mortality were adjusted to more closely reflect actual experience. In 2010, assumed rates of salary increase were adjusted to more closely reflect actual and anticipated experience. \nFor ERS, there were no changes in assumptions or benefits that affect the measurement of the total pension liability since the prior measurement date. \nFor PSERS, the last experience investigation was prepared for the five-year period ending June 30, 2009, and based on the results of the investigation various assumptions and methods were revised and adopted by the board on December 16, 2010. The next experience investigation will be prepared for the period July 1, 2009 through June 30, 2014. \n \nMethod and assumptions used in calculations of actuarially determined contributions: The actuarially determined contribution rates in the schedule of contributions are calculated as of June 30, three years prior to the end of the fiscal year in which contributions are reported. The following actuarial methods and assumptions were used to determine the contractually required contributions for year ended June 30, 2015 reported in that schedule: \n \nValuation date Actuarial cost method Amortization method \nRemaining amortization period Asset valuation method \nInflation rate Salary increase Investment rate of return (net of pension \nplan investment expense, including inflation) Cost of living adjustment \n \nTRS June 30, 2016 Entry age Level percentage of payroll, closed 30 years Five-year smoothed market \n3.00% 3.75% - 7.00% \n \nERS June 30, 2016 Entry age \nLevel dollar, closed 22.6 years Five-year smoothed market 3.00% 5.45 - 9.25% \n \n7.50% \n \n7.50% \n \n1.50% semi-annually 0 \n \nPSERS June 30, 2016 Entry age \nLevel dollar, closed 23.9 years Five-year smoothed \nmarket 3.00% N/A \n7.50% \n1.50% semi-annually \n \n-62- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO REQUIRED SUPPLEMENTARY INFORMATION FOR THE YEAR ENDED JUNE 30, 2018 \n \nOPEB \n \nChanges of benefit terms:In June 30, 2010 actuarial valuation, there was a change of benefit terms to require Medicare-eligible recipients to enroll in a Medicare Advantage plan to receive the State subsidy. \n \nChanges in assumptions: In the revised June 30, 2017 actuarial valuation, there was a change relating to employee allocation. Employees were previously allocated based on their Retirement System membership, and currently employees are allocated based on their current employer payroll location. \n \nIn the June 30, 2015 actuarial valuation, decremental and underlying inflation assumptions were changed to reflect the Retirement Systems' experience studies. \n \nIn the June 30, 2012 actuarial valuation, a data audit was performed and data collection procedures and assumptions were changed. \n \nMethod and assumptions used in calculations of actuarially determined contributions: The actuarially determined contribution rates in the schedule of contributions are calculated as of June 30, three years prior to the end of the fiscal year in which contributions are reported. The following actuarial methods and assumptions were used to determine the contractually required contributions for year ended June 30, 2015 reported in that schedule: \n \nValuation date Actuarial cost method Amortization method \nRemaining amortization period Asset valuation method Inflation rate Salary increase \nERS GJRS LRS Investment rate of return (net of investment expense, including inflation) \n \nOPEB June 30, 2016 Projected Unit Credit Level dollar, open infinite Infinite Fair value of assets 2.75% \n3.25% 4.50% N/A \n7.50% \n \n-63- \n \n COMBINING FUND STATEMENTS AND OTHER SCHEDULES \n \n NONMAJOR GOVERNMENTAL FUNDS \nSPECIAL REVENUE FUNDS \nDescription \nSpecial revenue funds are used to account for revenues received from other governmental agencies or locally generated revenues that are legally restricted to expenditures for specified purposes. \nSchool Nutrition Program: This fund was established to provide accounting of the System's School Food Service operations. \nOther Special Revenue Funds: \nTitle I: This fund used to account for federal categorical grant funds flowing through the Department of Education, State of Georgia, for the purpose of providing remedial education in the areas of reading and math. \nTitle VIB \u0026 Project Aware: This fund was established to provide accounting of federal categorical grant funds flowing through the Department of Education, State of Georgia, for the purpose of providing special education programs for handicapped students and increasing awareness of mental health issues among school-aged youth; provide training in Youth Mental Health First Aid; and connect children, youth, and families who have behavioral health issues with appropriate services. \nPerkins CTAE: This fund was established to provide accounting of federal categorical grant funds flowing through the Department of Education, State of Georgia, for the purpose of developing career, technical, vocation, and academic skills of students. \nTitle IIA: This fund was established to provide accounting of federal categorical grant funds flowing through the Department of Education, State of Georgia, for the purpose of improving teacher and principal quality and ensuring that all teachers are highly qualified. \nTitle III (LEP \u0026 Immigrant): This fund was established to provide accounting of federal categorical grant funds flowing through the Department of Education, State of Georgia, for the purpose of improving the education of limited English proficient (LEP) and immigrant students by helping them learn English and meet student academic achievement standards. \nTitle IV, Part A (Student Support and Academic Enrichment): This fund was established to provide accounting of federal categorical grant funds flowing through to Department of Education, State of Georgia, for the purpose of improving students' academic achievement by increasing the capacity of States, LEAs, schools, and local communities to provide all students with access to a well-rounded education; improve school conditions for student learning; and improve the use of technology in order to \n-64- \n \n Other Special Revenue Funds: (Continued) Title IV, Part A (Student Support and Academic Enrichment)(continued): improve the academic achievement and digital literacy of all students. (ESEA section 4101). School Activity Accounts: Consistent with the philosophy of financial independence of the schools, this fund was established to provide accounting for the accounts maintained at the school level. Mainstay Psycho Ed: This fund was established to provide accounting of state and federal grant funds flowing through the Georgia Network for Educational and Therapeutic Support (GNETS), State of Georgia, for the purpose of providing specialized educational treatment for emotionally disturbed students. Pre-K: This fund was established to provide accounting of state lottery funds flowing through the Georgia Department of Early Care and Learning, for the purpose of providing early care and education programs for pre-kindergarten students. Nursing Grant: This fund was established to provide accounting of funds donated by the Hospital Authority, a local foundation, for the purpose of providing nurses in each school. Other Funds: This fund was established to provide accounting for certain special programs that are typically one-time monies awarded for distinct program objectives. \nPERMANENT FUNDS Description The permanent funds are used to account for assets held by the System resulting from a trust arrangement in which the System is the beneficiary which include scholarships and endowments. \n-65- \n \n ASSETS \nCash and cash equivalents Receivables \nState of Georgia, Department of Education Due from other funds Other Investments Inventories Other assets \nTotal assets \nLIABILITIES AND FUND BALANCES \nLIABILITIES Accounts payable Accrued salaries and benefits Unearned revenue Due to other funds Total liabilities \nFUND BALANCES Nonspendable: Inventories Permanent funds Restricted for: Continuation of federal and state programs Committed to: School activity funds and other programs Assigned to: Permanent funds Total fund balances \nTotal liabilities and fund balances \n \nGRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS \nJUNE 30, 2018 \n \nSCHOOL NUTRITION PROGRAM \n \nSPECIAL REVENUE FUNDS OTHER SPECIAL \nREVENUE FUNDS \n \nTOTAL SPECIAL REVENUE \nFUNDS \n \nPERMANENT FUNDS \n \nTOTAL NONMAJOR GOVERNMENTAL \nFUNDS \n \n$ \n \n1,268,785 $ \n \n1,545,234 $ \n \n2,814,019 $ \n \n1,150,130 $ \n \n3,964,149 \n \n65,164 \n \n2,794,967 \n \n2,860,131 \n \n32,407 \n \n2,892,538 \n \n3,457 \n \n42,255 \n \n45,712 \n \n14,478 \n \n60,190 \n \n20,000 \n \n20,000 \n \n172,138 \n \n172,138 \n \n172,138 \n \n6,336 \n \n6,336 \n \n6,336 \n \n$ \n \n1,509,544 $ \n \n4,388,792 $ \n \n5,898,336 $ \n \n1,217,015 $ \n \n7,115,351 \n \n$ \n \n33,043 $ \n \n114,829 $ \n \n147,872 $ \n \n436,466 \n \n2,062,800 \n \n2,499,266 \n \n29,178 \n \n45,347 \n \n74,525 \n \n1,098,149 \n \n1,098,149 \n \n498,687 \n \n3,321,125 \n \n3,819,812 \n \n37,435 $ 37,435 \n \n185,307 2,499,266 \n74,525 1,098,149 3,857,247 \n \n172,138 \n \n172,138 \n \n1,107,190 \n \n172,138 1,107,190 \n \n838,719 \n \n454,982 \n \n1,293,701 \n \n1,293,701 \n \n612,685 \n \n612,685 \n \n612,685 \n \n1,010,857 \n \n1,067,667 \n \n2,078,524 \n \n72,390 1,179,580 \n \n72,390 3,258,104 \n \n$ \n \n1,509,544 $ \n \n4,388,792 $ \n \n5,898,336 $ \n \n1,217,015 $ \n \n7,115,351 \n \nSee Independent Auditor's Report. \n \n-66- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2018 \n \nREVENUES Fees and charges State funds Federal funds Earnings on investments Miscellaneous \nTotal revenues \n \nSCHOOL NUTRITION PROGRAM \n \nSPECIAL REVENUE FUNDS OTHER SPECIAL \nREVENUE FUNDS \n \nTOTAL SPECIAL REVENUE \nFUNDS \n \nPERMANENT FUNDS \n \nTOTAL NONMAJOR GOVERNMENTAL \nFUNDS \n \n$ \n \n326,504 $ \n \n52,000 $ \n \n378,504 \n \n158,796 \n \n5,401,050 \n \n5,559,846 \n \n5,465,325 \n \n8,304,752 \n \n13,770,077 \n \n4,755 \n \n1,079 \n \n5,834 $ \n \n1,693,782 \n \n1,693,782 \n \n5,955,380 \n \n15,452,663 \n \n21,408,043 \n \n$ \n14,678 50,325 65,003 \n \n378,504 5,559,846 13,770,077 \n20,512 1,744,107 \n21,473,046 \n \nEXPENDITURES Current operating Instruction Support services Pupil support services Improvement of instructional services General and school administration Maintenance and operation of plant Student transportation services Central support services Other support services School nutrition services Community service operations \n \n6,538,010 \n \n9,663,840 \n1,525,325 2,957,275 1,345,192 \n24,641 103,212 \n3,499 6,305 \n829 \n \n9,663,840 \n1,525,325 2,957,275 1,345,192 \n24,641 103,212 \n3,499 6,305 6,538,010 \n829 \n \n16,783 54,625 \n \n9,680,623 \n1,525,325 2,957,275 1,345,192 \n24,641 103,212 \n3,499 60,930 6,538,010 \n829 \n \nTotal expenditures \n \n6,538,010 \n \n15,630,118 \n \n22,168,128 \n \n71,408 \n \n22,239,536 \n \nExcess (deficiency) of revenues over (under) expenditures \n \n(582,630) \n \n(177,455) \n \n(760,085) \n \n(6,405) \n \n(766,490) \n \nOTHER FINANCING SOURCES Transfers in \n \n690,000 \n \n145,238 \n \n835,238 \n \n835,238 \n \nTotal other financing sources \n \n690,000 \n \n145,238 \n \n835,238 \n \n0 \n \n835,238 \n \nNet change in fund balances \n \n107,370 \n \n(32,217) \n \n75,153 \n \n(6,405) \n \n68,748 \n \nFund balances, beginning \n \n903,487 \n \n1,099,884 \n \n2,003,371 \n \n1,185,985 \n \n3,189,356 \n \nFund balances, ending \n \n$ \n \n1,010,857 $ \n \n1,067,667 $ \n \n2,078,524 $ \n \n1,179,580 $ \n \n3,258,104 \n \nSee Independent Auditor's Report. \n \n-67- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING BALANCE SHEET OTHER SPECIAL REVENUE FUNDS \nJUNE 30, 2018 \n \nASSETS \nCash and cash equivalents Receivables \nState of Georgia, Department of Education Other Other assets \nTotal assets \nLIABILITIES AND FUND BALANCES \nLIABILITIES Accounts payable Accrued salaries and benefits Unearned revenue Due to other funds Total liabilities \nFUND BALANCES Restricted for: Continuation of federal and state programs Committed to: School activity funds and other programs Total fund balances \nTotal liabilities and fund balances \n \nTITLE I \n \nTITLE VI-B (IDEA) \u0026 PROJECT AWARE \n \nPERKINS CTAE \n \nTITLE II A \n \nTITLE III (LEP \u0026 IMMIGRANT) \n \nTITLE IV (STUDENT SUPPORT) \n \n$ \n \n0$ \n \n1,189,870 61 \n \n$ \n \n1,189,931 $ \n \n0$ \n379,442 \n540 379,982 $ \n \n0$ \n13,558 \n5,796 19,354 $ \n \n0$ \n175,000 1,111 \n176,111 $ \n \n272 $ 0 \n272 $ \n \n0 25,001 \n25,001 \n \n$ \n \n14,061 $ \n \n735,893 \n \n395,038 1,144,992 \n \n34,672 $ 263,123 \n82,153 379,948 \n \n44,939 \n \n44,939 \n \n$ \n \n1,189,931 $ \n \n34 \n34 379,982 $ \n \n998 $ \n18,356 19,354 \n \n171 $ 10,590 \n165,350 176,111 \n \n0 19,354 $ \n \n0 176,111 $ \n \n0$ \n272 0 \n272 \n \n0 7,518 \n17,483 25,001 \n \n0 272 $ \n \n0 25,001 \n \n-68- \n \nSee Independent Auditor's Report. \n \n ASSETS \nCash and cash equivalents Receivables \nState of Georgia, Department of Education Other Other assets \nTotal assets \nLIABILITIES AND FUND BALANCES \nLIABILITIES Accounts payable Accrued salaries and benefits Unearned revenue Due to other funds Total liabilities \nFUND BALANCES Restricted for: Continuation of federal and state programs Committed to: School activity funds and other programs Total fund balances \nTotal liabilities and fund balances \n \nGRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING BALANCE SHEET OTHER SPECIAL REVENUE FUNDS (CONTINUED) \nJUNE 30, 2018 \n \nMAINSTAY PSYCHO ED \n \nPRE-K \n \nSCHOOL ACTIVITY ACCOUNTS \n \nNURSING GRANT \n \nOTHER FUNDS \n \nTOTAL OTHER SPECIAL REVENUE FUNDS \n \n$ \n \n0$ \n \n1,012,096 \n \n$ \n \n1,012,096 $ \n \n377,293 $ \n \n547,683 $ \n \n377,293 $ \n \n547,683 $ \n \n120,154 $ \n27,083 147,237 $ \n \n499,832 $ \n14,000 513,832 $ \n \n1,545,234 \n2,794,967 42,255 6,336 \n4,388,792 \n \n$ \n \n54,923 $ \n \n533,703 \n \n419,769 1,008,395 \n \n0$ 365,726 \n7,710 \n373,436 \n \n8,693 $ 8,693 \n \n0$ 145,947 \n1,290 \n147,237 \n \n1,311 $ 300 \n36,075 \n37,686 \n \n114,829 2,062,800 \n45,347 1,098,149 3,321,125 \n \n3,701 \n \n3,701 \n \n$ \n \n1,012,096 $ \n \n3,857 \n3,857 377,293 # $ \n \n538,990 538,990 \n547,683 $ \n \n0 147,237 $ \n \n402,451 \n73,695 476,146 \n513,832 $ \n \n454,982 \n612,685 1,067,667 \n4,388,792 \n \n-69- \n \nSee Independent Auditor's Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OTHER SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2018 \n \n-70- \n \nREVENUES Fees and charges State funds Federal funds Earnings on investments Miscellaneous Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil support services Improvement of instructional services General and school administration Maintenance and operation of plant Student transportation services Central support services Other support services Community service operations \nTotal expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in \nTotal other financing sources \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nTITLE I \n \nTITLE VI-B (IDEA) \u0026 PROJECT AWARE \n \nPERKINS CTAE \n \nTITLE II A \n \nTITLE III (LEP \u0026 IMMIGRANT) \n \nTITLE IV (STUDENT SUPPORT) \n \n$ \n \n4,595,990 $ \n \n2,450,471 $ \n \n4,595,990 \n \n2,450,471 \n \n125,244 $ 125,244 \n \n536,792 $ 536,792 \n \n41,648 $ 41,648 \n \n93,439 93,439 \n \n1,708,814 \n275,357 1,904,871 \n604,097 \n102,851 \n \n1,541,856 \n313,656 592,194 \n2,765 \n \n110,625 \n14,130 489 \n \n96,408 \n404,652 32,941 \n2,791 \n \n27,518 \n3,453 10,633 \n44 \n \n3,588 \n79,676 10,175 \n \n4,595,990 0 \n \n2,450,471 0 \n \n125,244 0 \n \n536,792 0 \n \n41,648 0 \n \n93,439 0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n44,939 \n \n34 \n \n0 \n \n0 \n \n0 \n \n0 \n \n$ \n \n44,939 $ \n \n34 $ \n \n0$ \n \n0$ \n \n0$ \n \n0 \n \nSee Independent Auditor's Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OTHER SPECIAL REVENUE FUNDS (CONTINUED) FOR THE YEAR ENDED JUNE 30, 2018 \n \nREVENUES Fees and charges State funds Federal funds Earnings on investments Miscellaneous Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil support services Improvement of instructional services General and school administration Maintenance and operation of plant Student transportation services Central support services Other support services Community service operations \nTotal expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in \nTotal other financing sources \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nMAINSTAY PSYCHO ED \n \n$ \n \n3,299,045 $ \n \n461,168 \n \n3,760,213 \n \nPRE-K \n \nSCHOOL ACTIVITY ACCOUNTS \n \nNURSING GRANT \n \nOTHER FUNDS \n \nTOTAL OTHER SPECIAL REVENUE FUNDS \n \n2,102,005 $ \n2,102,005 \n \n1,079 1,327,732 $ \n1,328,811 \n \n$ \n308,333 308,333 \n \n52,000 $ \n57,717 109,717 \n \n52,000 5,401,050 8,304,752 \n1,079 1,693,782 \n15,452,663 \n \n2,525,707 \n546,006 8,371 \n677,395 2,734 \n \n2,234,536 \n8,368 4,339 \n \n1,387,536 \n \n3,760,213 0 \n \n2,247,243 (145,238) \n \n1,387,536 (58,725) \n \n145,238 \n \n0 \n \n145,238 \n \n0 \n \n0 \n \n0 \n \n(58,725) \n \n3,701 \n \n3,857 \n \n597,715 \n \n$ \n \n3,701 $ \n \n3,857 $ \n \n538,990 $ \n \n1,215 307,118 \n308,333 0 \n0 0 0 0$ \n \n26,037 \n59 3,881 23,122 21,907 \n361 708 6,305 829 \n83,209 \n26,508 \n \n9,663,840 \n1,525,325 2,957,275 1,345,192 \n24,641 103,212 \n3,499 6,305 \n829 \n15,630,118 \n(177,455) \n \n0 26,508 449,638 476,146 $ \n \n145,238 145,238 (32,217) 1,099,884 1,067,667 \n \n-71- \n \nSee Independent Auditor's Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - CAPITAL PROJECTS FUND FOR THE YEAR ENDED JUNE 30, 2018 \n \nREVENUES Sales taxes Earnings on Investments Total revenues \nEXPENDITURES Current operating Student transportation services Capital outlay * Total expenditures \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nBUDGET \n \n$ \n \n7,950,000 \n \n0 \n \n7,950,000 \n \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \n$ \n \n8,256,983 $ \n \n336,018 \n \n8,593,001 \n \n306,983 336,018 643,001 \n \n0 24,120,580 24,120,580 \n \n528,000 7,106,920 7,634,920 \n \n528,000 (17,013,660) (16,485,660) \n \n(16,170,580) \n \n958,081 \n \n17,128,661 \n \n26,474,286 \n \n26,474,286 \n \n0 \n \n$ \n \n10,303,706 \n \n$ 27,432,367 $ 17,128,661 \n \n* Capital outlay for budget purposes reflects the entire project; but actual amount reflects expenditures incurred during the fiscal year. \n \nSee Independent Auditor's Report. \n \n-72- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - DEBT SERVICE FUND FOR THE YEAR ENDED JUNE 30, 2018 \n \nREVENUES Sales taxes Total revenues \n \nBUDGET \n \n$ \n \n700,000 \n \n700,000 \n \nEXPENDITURES Debt Service Interest and Fiscal Charges Total expenditures \n \n617,775 617,775 \n \nNet change in fund balances \n \n82,225 \n \nFund balances, beginning \n \n369,032 \n \nFund balances, ending \n \n$ \n \n451,257 \n \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \n$ \n \n762,314 $ \n \n62,314 \n \n762,314 \n \n62,314 \n \n614,127 614,127 \n \n(3,648) (3,648) \n \n148,187 \n \n65,962 \n \n369,032 \n \n0 \n \n$ \n \n517,219 $ \n \n65,962 \n \nSee Independent Auditor's Report. \n-73- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - SCHOOL NUTRITION PROGRAM FOR THE YEAR ENDED JUNE 30, 2018 \n \nREVENUES State funds Federal funds Other local funds Total revenues \nEXPENDITURES Current operating Support services School nutrition services Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in Total other financing uses \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nBUDGET \n \n$ \n \n158,879 \n \n5,532,439 \n \n312,751 \n \n6,004,069 \n \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \n$ \n \n158,796 $ \n \n5,465,325 \n \n331,259 \n \n5,955,380 \n \n(83) (67,114) 18,508 (48,689) \n \n6,694,069 6,694,069 \n(690,000) \n \n6,538,010 6,538,010 \n(582,630) \n \n(156,059) (156,059) \n107,370 \n \n690,000 \n \n690,000 \n \n0 \n \n690,000 \n \n690,000 \n \n0 \n \n0 \n \n107,370 \n \n107,370 \n \n903,487 \n \n903,487 \n \n0 \n \n$ \n \n903,487 \n \n$ \n \n1,010,857 $ \n \n107,370 \n \nSee Independent Auditor's Report. \n \n-74- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - OTHER SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2018 \n \nREVENUES Federal funds Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil services Improvement of instructional services General and school administration Student transportation services Other support services Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nFund balances, beginning \nFund balances, ending \n \nBUDGET \n \nTITLE I \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \nTITLE VI-B (IDEA) \u0026 PROJECT AWARE VARIANCE \n \nACTUAL \n \nOVER \n \nBUDGET \n \nAMOUNTS \n \n(UNDER) \n \n$ \n \n5,162,107 $ \n \n4,595,990 $ \n \n5,162,107 \n \n4,595,990 \n \n(566,117) $ (566,117) \n \n2,743,155 $ 2,743,155 \n \n2,450,471 $ 2,450,471 \n \n(292,684) (292,684) \n \n2,014,942 \n \n1,708,814 \n \n289,215 2,119,792 \n622,661 115,497 \n0 5,162,107 \n \n275,357 1,904,871 \n604,097 102,851 \n0 4,595,990 \n \n0 \n \n0 \n \n44,939 \n \n44,939 \n \n$ \n \n44,939 $ \n \n44,939 $ \n \n(306,128) \n \n(13,858) (214,921) \n(18,564) (12,646) \n0 (566,117) \n \n0 \n \n0 \n \n0 \n \n$ \n \n1,873,165 \n307,803 489,283 \n72,904 0 0 \n2,743,155 \n0 \n34 \n34 $ \n \n1,541,856 \n313,656 592,194 \n2,765 0 0 \n2,450,471 \n0 \n34 \n34 $ \n \n(331,309) \n5,853 102,911 (70,139) \n0 0 (292,684) \n0 \n0 \n0 \n \n-75- \n \nSee Independent Auditors' Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - OTHER SPECIAL REVENUE FUNDS (CONTINUED) FOR THE YEAR ENDED JUNE 30, 2018 \n \nREVENUES Federal funds Total revenues \nEXPENDITURES Current operating Instruction Support services Improvement of instructional services General and school administration Central support services Other support services Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nFund balances, beginning \nFund balances, ending \n \nBUDGET \n \nPERKINS CTAE \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \nBUDGET \n \nTITLE IIA \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \n$ \n \n125,418 $ \n \n125,244 $ \n \n125,418 \n \n125,244 \n \n(174) $ (174) \n \n464,639 $ 464,639 \n \n536,792 $ 536,792 \n \n72,153 72,153 \n \n107,915 \n \n110,625 \n \n15,503 2,000 0 0 \n125,418 \n \n14,130 489 0 0 \n125,244 \n \n0 \n \n0 \n \n0 \n \n0 \n \n$ \n \n0$ \n \n0$ \n \n2,710 \n \n(1,373) (1,511) \n0 0 (174) \n \n0 \n \n0 \n \n0 \n \n$ \n \n97,985 \n333,228 29,926 0 3,500 \n464,639 \n0 \n0 \n0$ \n \n96,408 \n404,652 32,941 2,791 0 \n536,792 \n0 \n0 \n0$ \n \n(1,577) \n71,424 3,015 2,791 (3,500) \n72,153 \n0 \n0 \n0 \n \n-76- \n \nSee Independent Auditors' Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - OTHER SPECIAL REVENUE FUNDS (CONTINUED) FOR THE YEAR ENDED JUNE 30, 2018 \n \nREVENUES Federal funds Other local funds Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil services Improvement of instructional services General and school administration Other support services Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nFund balances, beginning \nFund balances, ending \n \nBUDGET \n \nTITLE III (LEP \u0026 IMMIGRANT) VARIANCE \n \nACTUAL \n \nOVER \n \nAMOUNTS \n \n(UNDER) \n \nTITLE IV (STUDENT SUPPORT) VARIANCE \n \nACTUAL \n \nOVER \n \nBUDGET \n \nAMOUNTS \n \n(UNDER) \n \n$ \n \n44,489 $ \n \n41,648 $ \n \n(2,841) $ \n \n118,063 $ \n \n93,439 $ \n \n(24,624) \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n44,489 \n \n41,648 \n \n(2,841) \n \n118,063 \n \n93,439 \n \n(24,624) \n \n24,697 \n \n27,518 \n \n2,821 \n \n3,779 \n \n3,588 \n \n0 \n \n5,006 14,776 \n10 0 \n44,489 \n \n3,453 10,633 \n44 0 \n41,648 \n \n(1,553) (4,143) \n34 0 \n(2,841) \n \n80,846 33,438 \n0 0 118,063 \n \n79,676 10,175 \n0 0 93,439 \n \n(1,170) (23,263) \n0 0 (24,624) \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n$ \n \n0$ \n \n0$ \n \n0 \n \n$ \n \n0$ \n \n0$ \n \n0 \n \n-77- \n \nSee Independent Auditors' Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - OTHER SPECIAL REVENUE FUNDS (CONTINUED) FOR THE YEAR ENDED JUNE 30, 2018 \n \nREVENUES State funds Federal funds Other local funds Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil services Improvement of instructional services General and school administration Maintenance and operation of plant Other support services Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nOTHER FINANCING SOURCES Transfers in Total other financing sources \nNet change in fund balances \nFund balances, beginning \nFund balances, ending \n \nBUDGET \n \nMAINSTAY PSYCHO ED \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \nBUDGET \n \nPRE-K \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \n$ \n \n3,601,502 $ \n \n3,299,045 $ \n \n566,784 \n \n461,168 \n \n0 \n \n0 \n \n4,168,286 \n \n3,760,213 \n \n(302,457) $ (105,616) \n0 (408,073) \n \n2,084,788 $ 0 0 \n2,084,788 \n \n2,102,005 $ 0 0 \n2,102,005 \n \n17,217 0 0 \n17,217 \n \n2,893,318 \n599,555 25,000 643,413 \n7,000 0 \n4,168,286 \n0 \n \n2,525,707 \n546,006 8,371 \n677,395 2,734 0 \n3,760,213 \n0 \n \n(367,611) \n(53,549) (16,629) 33,982 \n(4,266) 0 \n(408,073) \n0 \n \n2,257,788 \n1,000 10,000 \n6,000 0 0 \n2,274,788 \n(190,000) \n \n2,234,536 \n0 8,368 4,339 \n0 0 2,247,243 \n(145,238) \n \n(23,252) \n0 (1,632) (1,661) \n0 0 (27,545) \n44,762 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n0 \n \n3,701 \n \n3,701 \n \n$ \n \n3,701 $ \n \n3,701 $ \n \n0 0 \n \n0 \n \n0 \n \n0 \n \n$ \n \n190,000 190,000 \n0 3,857 3,857 $ \n \n145,238 145,238 \n0 3,857 3,857 $ \n \n(44,762) (44,762) \n0 0 0 \n \n-78- \n \nSee Independent Auditor's Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nCOMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - OTHER SPECIAL REVENUE FUNDS (CONTINUED) FOR THE YEAR ENDED JUNE 30, 2018 \n \nREVENUES Federal funds Other local funds Total revenues \nEXPENDITURES Current operating Instruction Support services Pupil services Total expenditures \nExcess (deficiency) of revenues over (under) expenditures \nFund balances, beginning \nFund balances, ending \n \nSCHOOL ACTIVITY ACCOUNTS \n \nVARIANCE \n \nACTUAL \n \nOVER \n \nBUDGET \n \nAMOUNTS \n \n(UNDER) \n \nBUDGET \n \nNURSING GRANT \nACTUAL AMOUNTS \n \nVARIANCE OVER \n(UNDER) \n \n$ \n \n0$ \n \n0$ \n \n1,500,000 \n \n1,328,811 \n \n1,500,000 \n \n1,328,811 \n \n0 \n \n$ \n \n(171,189) $ \n \n(171,189) \n \n0$ 350,000 $ 350,000 \n \n0$ 308,333 $ 308,333 \n \n0 (41,667) (41,667) \n \n1,500,000 \n \n3,588 \n \n(1,496,412) \n \n0 \n \n0 1,500,000 \n \n3,588 \n \n0 (1,496,412) \n \n350,000 350,000 \n \n0 \n \n1,325,223 \n \n1,325,223 \n \n0 \n \n597,715 \n \n597,715 \n \n0 \n \n$ \n \n597,715 $ \n \n1,922,938 $ \n \n1,325,223 \n \n$ \n \n0 0$ \n \n1,215 307,118 308,333 \n0 0 0$ \n \n1,215 (42,882) (41,667) \n0 0 0 \n \n-79- \n \nSee Independent Auditors' Report. \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nAGENCY FUNDS - SCHOOL ACTIVITY FUNDS STATEMENT OF CHANGES IN FIDUCIARY ASSETS AND LIABILITIES \nFOR THE YEAR ENDED JUNE 30, 2018 \n \nASSETS Cash and cash equivalents \nTotal assets \nLIABILITIES Accounts payable Due to student and faculty groups \nTotal liabilities \n \nBalance \n \nBalance \n \nJuly 1, 2017 Additions Deductions June 30, 2018 \n \n$ 181,816 $ 478,861 $ 438,561 $ 222,116 \n \n$ 181,816 $ 478,861 $ 438,561 $ 222,116 \n \n$ 2,726 $ 21,079 $ 2,726 $ 21,079 \n \n179,090 457,782 435,835 \n \n201,037 \n \n$ 181,816 $ 478,861 $ 438,561 $ 222,116 \n \nSee Independent Auditor's Report. \n-80- \n \n GRIFFIN-SPALDING COUNTY BOARD OF EDUCATION GRIFFIN, GEORGIA \nSCHEDULE OF ALLOTMENTS AND EXPENDITURES - BY PROGRAM GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS FOR THE YEAR ENDED JUNE 30, 2018 \n \nALLOTMENTS FROM DEPARTMENT OF EDUCATION \n \nGENERAL AND CAREER EDUCATION PROGRAMS \n \nAMOUNT \n \nKindergarten Kindergarten EIP Grades 1  3 Grades 1  3 EIP \nSub-Total - K-3 Grades 4 - 5 Grades 4 - 5 EIP Middle School (6 - 8) Grades 9 - 12 Vocational Education Laboratories \nTotal General and Career Education Programs \n \n$ 2,302,546 2,270,541 6,124,527 6,053,232 16,750,846 2,422,097 4,563,657 6,920,503 5,946,906 2,166,748 \n38,770,757 \n \nSPECIAL EDUCATION PROGRAMS \n \nStudents with Disabilities Category I Category II Category III Category IV Category V Sub-Total  Regular Category VI (Gifted) Total Special Education Programs \n \n251,569 1,153,640 4,763,565 1,777,646 \n353,931 8,300,351 2,048,587 10,348,938 \n \nREMEDIAL EDUCATION PROGRAM \n \n850,980 \n \nALTERNATIVE EDUCATION PROGRAMS \n \n502,509 \n \nENGLISH FOR SPEAKERS OF OTHER LANGUAGES \n \n461,845 \n \nSPECIAL EDUCATION ITINERANT \n \n12,806 \n \nSPECIAL EDUCATION SUPPLEMENTAL SPEECH \n \n16,543 \n \nDirect Instruction Total \n \n50,964,378 \n \nTWENTY DAYS ADDITIONAL INSTRUCTION \n \n396,807 \n \nTwenty Days Additional Instruction Total \n \n396,807 \n \nMEDIA CENTER PROGRAMS \n \n1,296,904 \n \nMedia Center Total \n \n1,296,904 \n \nPROFESSIONAL DEVELOPMENT PROGRAMS \n \n244,786 \n \nProfessional Development Total \n \n244,786 \n \nGrand Total \n \n$ 52,902,875 \n \nDIRECT INSTRUCTIONAL EXPENDITURES AMOUNT REPORTED TO \nDEPARTMENT OF EDUCATION \n \nSALARIES \n \nOPERATIONS \n \nTOTAL \n \n$ 4,424,964 \n \n$ \n \n65,025 \n \n10,437,189 \n \n123,376 \n \n15,050,554 \n \n6,356,777 \n \n63,354 \n \n8,321,720 \n \n8,687,340 \n \n1,060,672 \n \n39,540,417 \n \n28,987 1,692 209,544 3,754 243,977 48,227 3,111 81,086 112,252 151,930 \n640,583 \n \n$ 4,453,951 66,717 \n10,646,733 127,130 \n15,294,531 6,405,004 \n66,465 8,402,806 8,799,592 1,212,602 \n40,181,000 \n \n0 811,770 6,062,163 300,946 \n0 7,174,879 \n396,586 7,571,465 \n \n275,621 \n \n437,321 \n \n479,146 \n \n0 \n \n0 \n \n48,303,970 \n \n0 \n \n0 \n \n1,502,435 \n \n1,502,435 \n \n0 \n \n0 \n \n$ 49,806,405 \n \n$ \n \n4,793 5,485 10,173 2,742 1,781 24,974 18,403 43,377 \n0 \n0 \n212 \n0 \n0 \n684,172 \n0 \n0 \n107,898 \n107,898 \n0 \n0 \n792,070 \n \n4,793 817,255 6,072,336 303,688 \n1,781 7,199,853 \n414,989 7,614,842 \n275,621 \n437,321 \n479,358 \n0 \n0 \n48,988,142 \n0 \n0 \n1,610,333 \n1,610,333 \n710,920 \n710,920 \n$ 51,309,395 \n \nNote: \n \nExpenditure tests focus on spending 100% of allotted direct instructional funds on a system-wide basis rather than by school or program. However, certain programs such as twenty days additional instruction, media, and professional development are under a 100% expenditure requirement. Griffin-Spalding County School System met the spending requirements for fiscal year June 30, 2018. \n \nSee Independent Auditor's Report. \n \n-81- \n \n STATISTICAL SECTION \n \n STATISTICAL SECTION (UNAUDITED) \n \nThis part of the System's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, notes, and required supplementary information says about the System's overall financial health. \n \nContents \n \nPage \n \nFinancial Trends \n \n83 \n \nThese schedules contain trend information to help the reader understand \n \nhow the System's financial performance and well-being have changed \n \nover time. \n \nRevenue Capacity \n \n88 \n \nThese schedules contain information to help the reader assess the System's \n \nmost significant local revenue source, the property tax. \n \nDebt Capacity \n \n96 \n \nThese schedules present information to help the reader assess the \n \naffordability of the System's current levels of outstanding debt and \n \nthe System's ability to issue additional debt in the future. \n \nDemographic and Economic Information \n \n101 \n \nThese schedules offer demographic and economic indicators to help \n \nthe reader understand the environment within which the System's \n \nfinancial activities take place. \n \nOperating Information \n \n106 \n \nThese schedules contain service and infrastructure data to help the reader \n \nunderstand how the information in the System's financial report relates \n \nto the services the System provides and the activities it performs. \n \nSources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. \n \n-82- \n \n -83- \n \nAssets: Cash and cash equivalents Property taxes receivable Due from other governments Other receivables Note receivable Investments Inventories Prepaid assets Capital assets not depreciable Capital assets, net of accumulated depreciation Other assets (net of accumulated amortization) \nTotal assets \nDeferred Outflows of Resources: \nLiabilities: Accounts payable and other current liabilities Unearned revenue Long-term liabilities: Capitalized lease obligations - due within one year Capitalized lease obligations - due in more than one year Bond premium Bonds payable - due within one year Bonds payable - due in more than one year Net pension liability Net OPEB liability \nTotal liabilities \nDeferred Inflows of Resources: \nNet Position: Net investment in capital assets Restricted for: Capital projects Debt service Other purposes Unrestricted \nTotal net position \n1 First year of implementation of GASB Statement No. 68. 2 First year of implementation of GASB Statement No. 75. \n \nGriffin-Spalding County School System Comparative Statement of Net Position, Last Ten Fiscal Years \n \n2009 \n$37,161,880 2,127,120 6,866,538 203,080 \n1,050,000 88,389 \n23,453,521 102,974,193 \n118,961 \n174,043,682 \n \n2010 \n$40,383,138 2,150,347 6,856,779 593,176 332,270 1,050,000 65,202 \n9,104,843 120,065,795 \n82,776 \n180,684,326 \n \n2011 \n$33,498,312 2,780,354 9,675,630 983,744 272,270 1,050,000 51,577 52,000 \n13,792,646 117,476,627 \n46,591 \n179,679,751 \n \n2012 \n$32,831,774 2,564,245 \n11,195,238 250,087 212,270 \n1,050,000 126,169 \n10,866,707 124,186,955 \n10,407 \n183,293,852 \n \nFiscal Year \n \n2013 \n \n2014 \n \n$35,266,312 2,969,255 \n10,191,867 308,194 152,270 \n1,075,483 13,029 6,135 \n15,374,752 122,020,657 \n11,926 \n \n$39,502,468 3,135,866 9,594,956 317,248 77,270 1,059,715 27,016 \n3,700,571 134,764,729 \n50,462 \n \n187,389,880 192,230,301 \n \n20151 \n$44,312,538 2,767,012 9,661,485 359,288 \n554,774 127,417 \n12,724,954 133,416,521 \n96,987 \n204,020,976 \n6,826,825 \n \n2016 \n$54,214,718 2,283,426 9,759,490 374,631 \n50,000 156,463 \n7,241,265 146,330,095 \n93,602 \n220,503,690 \n7,667,253 \n \n2017 \n$47,512,338 2,614,790 \n14,641,094 362,339 \n20,000 164,854 \n17,713,117 147,237,307 \n67,109 \n230,332,948 \n24,905,028 \n \n20182 \n$50,924,778 1,863,733 11,858,666 250,161 \n20,000 172,138 \n4,513,202 163,886,793 \n128,995 \n233,618,466 \n17,856,232 \n \n14,495,698 284,447 298,515 481,942 177,433 \n14,000,000 \n29,738,035 \n \n14,655,769 265,894 \n192,021 289,922 122,838 4,495,000 9,505,000 \n29,526,444 \n \n12,561,257 276,968 \n201,084 88,837 68,243 \n4,665,000 4,840,000 \n22,701,389 \n \n13,557,279 176,484 88,838 13,649 \n4,840,000 \n18,676,250 \n \n12,093,085 58,708 \n12,151,793 \n \n11,454,304 106,378 \n11,560,682 \n \n15,209,391 59,393 \n \n12,506,704 77,551 \n \n15,847,646 103,846 \n \n15,048,068 100,891 \n \n62,232,724 \n77,501,508 22,421,037 \n \n1,436,760 13,370,000 74,668,994 \n102,060,009 7,804,384 \n \n14,468,699 100,753,113 \n131,173,304 1,395,619 \n \n1,770,000 12,360,638 91,097,553 90,431,161 \n210,808,311 \n8,454,931 \n \n111,587,425 114,565,857 121,406,109 \n \n10,415,093 8,679,188 1,520,779 12,103,162 \n \n13,605,759 8,092,803 1,356,314 13,537,149 \n \n15,239,012 3,832,266 2,269,853 14,231,122 \n \n$144,305,647 $151,157,882 $156,978,362 \n \n130,111,176 \n14,516,860 4,954,100 2,186,850 12,848,616 \n$164,617,602 \n \n137,395,409 \n19,060,913 605 \n2,200,973 16,580,187 \n$175,238,087 \n \n138,465,300 22,637,265 2,217,705 17,349,349 $180,669,619 \n \n146,141,475 21,480,389 2,354,839 (59,051,447) $110,925,256 \n \n148,434,069 \n21,361,113 283,916 \n2,132,742 (53,905,290) \n$118,306,550 \n \n150,481,724 \n25,587,066 369,032 \n2,269,772 (56,038,541) \n$122,669,053 \n \n154,269,357 \n26,540,689 517,219 \n2,400,891 (151,516,700) \n$32,211,456 \n \n -84- \n \nGovernmental activities: \nCurrent and other assets Capital assets \nTotal assets \nDeferred Outflows of Resources \nCurrent and other liabilities Long-term liabilities outstanding \nTotal liabilities \nDeferred Inflows of Resources \nNet position: Net investment in capital assets Restricted Unrestricted \nTotal governmental activities net position \n1 First year of implementation of GASB Statement No. 68. \n \nGriffin-Spalding County School System Net Position by Component, Last Ten Fiscal Years \n \n2009 \n \n2010 \n \n2011 \n \n2012 \n \nFiscal Year \n \n2013 \n \n2014 \n \n20151 \n \n2016 \n \n2017 \n \n20182 \n \n$47,615,968 126,427,714 174,043,682 \n14,780,145 14,957,890 29,738,035 \n \n$51,513,688 129,170,638 180,684,326 \n14,921,663 14,604,781 29,526,444 \n \n$48,358,478 131,269,273 179,627,751 \n12,838,225 9,863,164 22,701,389 \n \n$48,240,190 135,053,662 183,293,852 \n13,733,763 4,942,487 18,676,250 \n \n$49,988,336 137,395,409 187,383,745 \n12,151,793 0 \n12,151,793 \n \n$53,765,001 138,465,300 192,230,301 \n11,560,682 0 \n11,560,682 \n \n$57,879,501 146,141,475 204,020,976 \n6,826,825 \n15,268,784 62,232,724 77,501,508 \n22,421,037 \n \n$66,932,330 153,571,360 220,503,690 \n7,667,253 \n12,584,255 89,475,754 102,060,009 \n22,421,037 \n \n$65,382,524 164,950,424 230,332,948 \n24,905,028 \n15,951,492 115,221,812 131,173,304 \n22,421,037 \n \n$65,218,471 168,399,995 233,618,466 \n17,856,232 \n15,148,959 195,659,352 210,808,311 \n8,454,931 \n \n111,587,425 20,615,060 12,103,162 \n \n114,565,857 23,054,876 13,537,149 \n \n121,406,109 21,341,131 14,231,122 \n \n130,111,176 21,657,810 12,848,616 \n \n137,395,409 21,262,491 16,580,187 \n \n138,465,300 24,854,970 17,349,349 \n \n146,141,475 23,835,228 -59,051,447 \n \n148,434,069 23,777,771 -53,905,290 \n \n150,481,724 28,225,870 \n(56,038,541) \n \n154,269,357 29,458,799 \n(151,516,700) \n \n$144,305,647 $151,157,882 $156,978,362 $164,617,602 $175,238,087 $180,669,619 $110,925,256 $118,306,550 $122,669,053 $32,211,456 \n \n -85- \n \nExpenses Governmental activities: \nInstruction Pupil support services Improvement of instructional services Educational media services General and school administration Business administration Maintenance and plant operations Student transportation services Central support services Other support services Food service operations Community services operations Interest on long-term debt Unallocated depreciation and other expenses \nTotal governmental activities expenses \nProgram Revenues Governmental activities: \nCharges for services: Instruction Food service operations \nOperating grants and contributions \nCapital grants and contributions \nTotal governmental activities program revenues \nNet (Expense) Revenue Governmental activities \nGeneral Revenues and Other Changes in Net Position Governmental activities: \nTaxes: Property taxes, levied for general purposes Special Purpose Local Option Sales Taxes \nInvestment earnings Gain on sale of fixed assets Miscellaneous \nTotal general revenues and other changes in net position governmental activities \nChange in Net Position \n \nGriffin-Spalding County School System Changes in Net Position, Last Ten Fiscal Years \n \n2009 \n \n2010 \n \n2011 \n \n2012 \n \nFiscal Year \n \n2013 \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n$65,503,742 3,010,602 3,928,254 1,960,650 8,524,664 470,007 8,622,179 3,775,162 1,336,515 1,318,394 5,621,521 161,947 644,019 301,107 \n105,178,763 \n \n$65,038,443 3,041,075 3,649,259 1,974,281 8,022,284 421,419 8,999,351 3,680,349 1,167,341 1,247,689 5,470,823 152,963 644,738 266,318 \n103,776,333 \n \n$63,217,366 3,155,458 4,540,524 1,928,462 8,175,375 330,052 8,507,364 3,799,576 1,154,965 1,309,216 5,619,731 149,722 535,173 228,752 \n102,651,736 \n \n$62,865,938 2,650,382 4,875,165 1,752,187 8,250,954 335,644 8,235,705 4,040,572 1,173,057 1,011,001 5,940,725 132,624 337,402 232,792 \n101,834,148 \n \n$60,807,268 2,367,075 4,288,607 1,524,908 8,068,277 348,784 8,405,731 4,394,079 1,257,984 1,181,099 6,125,485 126,811 123,280 244,769 \n99,264,157 \n \n$63,560,323 2,459,659 3,804,161 1,568,570 8,338,418 386,548 9,163,199 4,712,870 1,462,350 1,209,923 6,388,230 128,120 \n270,621 \n103,452,992 \n \n$61,195,688 2,397,156 4,344,137 1,551,391 8,560,997 373,588 8,747,253 4,854,254 1,567,518 1,347,676 6,334,315 129,182 \n231,702 \n101,634,857 \n \n$63,207,574 2,646,558 4,806,082 1,553,385 9,171,348 398,971 8,687,442 4,715,730 1,784,328 1,232,454 6,502,881 158,680 249,101 243,823 \n105,358,357 \n \n$68,115,614 3,405,213 6,065,947 1,701,942 10,664,979 448,078 9,051,874 5,365,352 1,837,944 981,592 6,793,323 150,809 276,066 199,477 \n115,058,210 \n \n$70,571,495 3,573,107 7,004,975 1,761,282 \n11,433,594 442,700 \n9,148,396 5,596,906 1,972,739 \n903,044 7,156,285 \n217,390 276,066 318,187 \n120,376,166 \n \n503,645 952,409 70,672,931 \n72,128,985 \n \n391,364 894,109 72,330,693 \n73,616,166 \n \n377,149 786,979 72,127,662 \n73,291,790 \n \n334,172 749,548 69,263,558 3,093,618 73,440,896 \n \n293,976 663,209 71,892,094 2,119,430 74,968,709 \n \n346,634 585,734 72,773,169 \n73,705,537 \n \n382,589 547,497 76,184,510 579,228 77,693,824 \n \n382,156 509,233 76,669,919 149,761 77,711,069 \n \n406,802 510,892 80,210,632 2,500,000 83,628,326 \n \n479,822 326,504 84,128,840 \n84,935,166 \n \n(33,049,778) (30,160,167) (29,359,946) (28,393,252) (24,295,448) (29,747,455) (23,941,033) (27,647,288) (31,429,884) (35,441,000) \n \n27,063,701 7,910,893 \n520,363 \n820,844 \n \n27,434,435 8,479,090 \n117,706 613,986 367,185 \n \n26,111,674 8,243,365 \n72,348 21,138 731,901 \n \n26,660,363 8,706,803 \n31,392 159,823 474,111 \n \n25,567,376 8,450,570 \n7,457 283,113 607,417 \n \n26,841,369 8,285,565 \n22,898 29,155 \n \n26,035,024 8,596,211 \n34,457 75,915 \n \n26,108,637 8,818,726 \n86,916 14,303 \n \n27,090,314 8,538,776 \n211,146 (47,849) \n \n27,111,736 9,019,297 \n584,818 \n \n36,315,801 $3,266,023 \n \n37,012,402 $6,852,235 \n \n35,180,426 $5,820,480 \n \n36,032,492 $7,639,240 \n \n34,915,933 $10,620,485 \n \n35,178,987 $5,431,532 \n \n34,741,607 $10,800,574 \n \n35,028,582 $7,381,294 \n \n35,792,387 $4,362,503 \n \n36,715,851 $1,274,851 \n \n Griffin-Spalding County School System Fund Balances, Governmental Funds Last Ten Fiscal Years \n \nGeneral Fund Reserved Unreserved Committed to: Risk Management Assigned to: Subsequent period expenditures Unassigned \nTotal general fund \n \n2009 \n \n2010 \n \n2011 1 \n \n2012 \n \n2013 \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n$8,992,617 $9,223,538 \n \n$366,497 \n \n$409,223 \n \n$428,995 \n \n$444,070 \n \n$334,926 \n \n$348,175 \n \n$451,258 \n \n$505,527 \n \n$8,992,617 \n \n$9,223,538 \n \n$3,125,760 $6,630,770 \n \n$8,222,547 \n \n$400,693 $11,487,321 \n \n$12,448,015 \n \n$14,423,807 \n \n$16,646,486 \n \n$16,953,863 \n \n$16,902,449 \n \n$10,123,027 $8,631,770 $12,317,009 $12,892,085 $14,758,733 $16,994,661 $17,405,121 $17,407,976 \n \n-86- \n \nAll Other Governmental Funds \nReserved \nUnreserved, reported in: \nDebt service funds \nCapital projects funds \nSpecial revenue funds Nonspendable Restricted for: \nDebt service funds Capital projects funds Continuation of federal and state programs Committed to: School activity funds and other programs Assigned to: Permanent funds Capital projects funds Unassigned \n \n$20,615,060 $23,120,078 \n \n1,539,589 \n \n1,924,775 \n \n1,358,704 \n3,832,266 15,239,012 1,021,787 \n905,857 \n86,126 662,008 \n(7,061) \n \n1,264,789 \n4,954,100 14,516,860 \n978,601 \n943,830 \n88,606 737,514 \n \n1,183,886 \n605 19,060,913 1,027,880 \n993,205 \n79,366 654,914 \n \n1,159,714 \n22,637,265 1,061,959 \n958,252 80,833 800,518 \n \n1,266,522 \n21,480,389 1,215,734 \n998,146 80,433 901,543 \n \n1,278,930 \n283,916 31,030,582 1,010,275 \n963,413 \n78,613 885,313 \n \n1,275,750 \n369,032 25,587,066 1,158,876 \n679,641 \n75,089 887,220 \n \n1,279,328 \n517,219 26,540,689 1,293,701 \n612,685 \n72,390 891,678 \n \nTotal all other governmental funds \n \n$22,154,649 $25,044,853 $23,098,699 $23,484,300 $23,000,769 $26,698,541 $25,942,767 $35,531,042 $30,032,674 $31,207,690 \n \n1 First year of implementation of GASB Statement No. 54. \n \n -87- \n \nRevenues State Funds Federal Funds Local and Other Funds \nTotal Revenues \nExpenditures Current operating Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General and School Administration Business Administration Maintenance and Operations of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operations Community Services Operations Other Operations of Non-Instructional Services Debt Service Principal Retirement Interest and Fiscal Charges Capital Outlay \nTotal Expenditures \nExcess (Deficiency) of Revenues over (under) expenditures \nOther Financing Sources (Uses) Proceeds from issuance of bonds Premium on issuance of bonds Capital Leases Proceeds from sale of assets Operating Transfers In Operating Transfers Out \nTotal Other Financing Sources (Uses) \nNet change in fund balance \nDebt service as a percentage of noncapital expenditures \n \nGriffin-Spalding County School System Changes in Fund Balances, Governmental Funds \nLast Ten Fiscal Years \n \n2009 \n \n2010 \n \n2011 \n \n2012 \n \nFiscal Year \n \n2013 \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n$56,051,777 12,387,424 40,002,330 \n108,441,531 \n \n$49,449,766 20,640,398 40,015,559 \n110,105,723 \n \n$53,242,210 16,691,914 38,846,616 \n \n$54,158,030 16,165,493 39,167,672 \n \n$57,015,876 14,609,040 37,875,737 \n \n$56,516,224 13,992,709 38,257,965 \n \n$59,861,710 13,994,514 39,046,240 \n \n$62,018,558 12,927,458 38,067,891 \n \n$66,809,022 13,657,932 38,951,158 \n \n$67,724,853 14,371,828 40,271,954 \n \n108,780,740 109,491,195 109,500,653 108,766,898 112,902,464 113,013,907 119,418,112 122,368,635 \n \n63,930,654 \n3,010,605 3,918,482 1,889,175 8,466,181 \n470,007 8,340,576 3,358,858 1,318,323 1,318,393 5,434,491 \n161,947 \n \n63,487,687 \n3,041,075 3,641,134 1,899,632 8,159,136 \n421,419 8,575,642 3,352,294 1,146,642 1,247,689 5,554,164 \n152,963 \n \n61,224,513 \n3,155,458 4,583,898 1,850,640 8,320,708 \n330,052 7,997,423 3,530,820 1,158,270 1,309,216 5,652,494 \n149,722 \n \n61,049,695 \n2,650,382 4,878,330 1,671,982 8,287,053 \n335,644 7,757,671 4,180,543 1,171,163 1,011,001 6,033,570 \n132,624 \n \n58,259,041 \n2,367,075 4,259,348 1,442,319 8,095,367 \n348,784 7,976,520 4,342,653 1,250,969 1,181,099 5,830,828 \n126,811 \n \n60,249,928 \n2,459,659 3,784,362 1,483,960 8,339,489 \n386,548 8,745,331 5,383,792 1,472,731 1,209,923 6,078,352 \n128,120 \n \n61,212,322 \n2,485,603 4,471,213 1,525,756 8,774,022 \n384,124 8,141,627 5,304,096 1,606,199 1,347,676 6,055,545 \n134,392 \n \n60,524,508 \n2,744,447 4,875,616 1,528,079 9,414,878 \n417,103 8,170,130 5,167,386 1,861,594 1,232,454 6,260,483 \n164,403 \n \n63,991,267 \n3,320,385 5,860,610 1,558,477 10,446,030 \n433,398 8,139,176 5,630,221 1,774,981 \n981,592 6,418,612 \n145,962 \n \n66,380,237 \n3,474,417 6,814,720 1,610,344 11,276,031 \n436,233 8,213,363 5,559,023 1,980,364 \n903,044 6,608,707 \n213,234 \n \n296,560 644,019 12,835,870 \n115,394,141 \n \n298,515 644,738 5,643,587 \n107,266,317 \n \n4,687,021 535,173 \n5,423,135 \n \n4,866,084 337,402 \n6,467,491 \n \n4,928,832 123,280 \n6,109,132 \n \n4,917,055 \n \n10,534,389 \n \n446,083 13,541,664 \n \n614,127 15,205,713 \n \n614,127 7,106,920 \n \n109,908,543 110,830,635 106,642,058 104,639,250 111,976,964 116,348,828 124,520,551 121,190,764 \n \n(6,952,610) \n \n2,839,406 \n \n(1,127,803) (1,339,440) 2,858,595 \n \n4,127,648 \n \n925,500 (3,334,921) (5,102,439) 1,177,871 \n \n293,460 \n4,144 (4,144) \n293,460 \n \n281,719 25,210 \n(25,210) \n281,719 \n \n81,138 81,138 \n \n233,784 8,698 \n(8,698) \n233,784 \n \n343,113 47,444 \n(47,444) \n343,113 \n \n145,200 153,320 (153,320) \n145,200 \n \n13,370,000 1,774,821 \n \n185,374 166,218 (166,218) \n \n14,303 123,607 (123,607) \n \n185,374 15,159,124 \n \n14,531 408,319 (408,319) \n14,531 \n \n835,238 (835,238) \n0 \n \n($6,659,150) $3,121,125 ($1,046,665) ($1,105,656) $3,201,708 $4,272,848 $1,110,874 $11,824,203 ($5,087,908) $1,177,871 \n \n0.92% \n \n0.93% \n \n5.00% \n \n4.99% \n \n5.03% \n \n0.00% \n \n0.00% \n \n0.43% \n \n0.56% \n \n0.54% \n \n Griffin-Spalding County School System Revenues by Source, Last Ten Fiscal Years \nGeneral Fund \n \n$100,000,000 $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \nState Federal Local \n \nYear Ended \n \nLocal \u0026 \n \nJune 30 \n \nOther Funds \n \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \n28,645,732 28,373,970 27,608,225 27,673,947 26,843,508 27,530,900 27,985,727 26,808,279 27,698,030 28,773,516 \n \nState Funds \n50,576,790 44,123,199 47,914,514 46,155,540 49,837,533 51,380,415 53,982,459 56,521,227 58,652,259 62,165,007 \n \nFederal Funds \n \nTotal Revenues \n \n1,342,194 5,379,059 2,232,918 \n300,250 306,186 283,899 348,721 443,798 497,735 601,751 \n \n80,564,716 77,876,228 77,755,657 74,129,737 76,987,227 79,195,214 82,316,907 83,773,304 86,848,024 91,540,274 \n \n-88- \n \n Griffin-Spalding County School System Percentage Change in Revenues by Source, Last Ten Fiscal Years \nGeneral Fund \n \nTotal Dollars \n \nYear Ended Local \u0026 June 30 Other Funds \n \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \n28,645,732 28,373,970 27,608,225 27,673,947 26,843,508 27,530,900 27,985,727 26,808,279 27,698,030 28,773,516 \n \nState Funds \n50,576,790 44,123,199 47,914,514 46,155,540 49,837,533 51,380,415 53,982,459 56,521,227 58,652,259 62,165,007 \n \nFederal Funds \n \nTotal Revenues \n \n1,342,194 5,379,059 2,232,918 \n300,250 306,186 283,899 348,721 443,798 497,735 601,751 \n \n80,564,716 77,876,228 77,755,657 74,129,737 76,987,227 79,195,214 82,316,907 83,773,304 86,848,024 91,540,274 \n \nPercentage Change 1 \n \n0.4% \n \n22.9% \n \n-55.2% \n \n13.6% \n \nPercentage of Dollars \n \nYear Ended Local \u0026 June 30 Other Funds \n \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \n35.56% 36.43% 35.50% 37.33% 34.87% 34.76% 33.99% 32.00% 31.89% 31.43% \n \nState Funds \n62.78% 56.66% 61.62% 62.26% 64.73% 64.88% 65.58% 67.47% 67.53% 67.91% \n \nFederal Funds \n \nTotal Revenues \n \n1.67% 6.91% 2.87% 0.41% 0.40% 0.36% 0.42% 0.53% 0.57% 0.66% \n \n100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% \n \n1Percentage change computed by using the following formula: (2018 revenue/2009 revenue)-1 = percentage change \n \n-89- \n \n Griffin-Spalding County School System Per Pupil Revenues by Source, Last Ten Fiscal Years \nGeneral Fund \n \nUNAUDITED \n \n10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 \n \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \nState Federal Local \n \nYear Ended Total \n \nStudent \n \nLocal \u0026 \n \nJune 30 \n \nRevenues Enrollment 1 Other Funds \n \nPer Pupil \n \nState \n \nFederal \n \nFunds \n \nFunds \n \nTotal Revenues 2 \n \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \n80,564,716 77,876,228 77,755,657 74,129,737 76,987,227 79,195,214 82,316,907 83,773,304 86,848,024 91,540,274 \n \n10,823 10,860 10,685 10,614 10,582 10,626 10,474 10,261 10,305 10,383 \n \n2,646 2,613 2,584 2,607 2,536 2,591 2,672 2,613 2,688 2,771 \n \n4,674 4,063 4,484 4,349 4,710 4,835 5,154 5,508 5,692 5,987 \n \n124 \n \n7,444 \n \n495 \n \n7,171 \n \n209 \n \n7,277 \n \n28 \n \n6,984 \n \n29 \n \n7,275 \n \n27 \n \n7,453 \n \n33 \n \n7,859 \n \n43 \n \n8,164 \n \n48 \n \n8,428 \n \n58 \n \n8,816 \n \nPercentage Change 3 \n \n13.6% \n \n-4.1% \n \n4.7% \n \n28.1% \n \n-53.3% \n \n18.4% \n \n1 Student enrollment figures are taken from fall enrollment (October 1) reports. 2 Revenues restated on a per pupil basis by using the following formula: \nRevenue/current enrollment = per pupil revenue 3 Percentage change computed by using the following formula: \n(2018 revenue/2009 revenue)-1 = percentage change \n \n-90- \n \n Griffin-Spalding County School System Assessed Value and Actual Value of Taxable Property, \nLast Ten Calendar Years \nSet forth below is information concerning the assessed (40% of fair market value) and estimated actual (fair market) value of taxable property within the District for the last ten years. \n \nUNAUDITED \n \nCalendar \nYear \n2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 \n \nMillage \nRate \n18.80 18.80 18.80 19.06 19.47 19.47 19.47 18.74 18.57 18.204 \n \nReal \u0026 Personal \nProperty \n1,536,597,246 1,535,803,959 1,535,823,213 1,511,231,094 1,462,533,127 1,445,747,006 1,430,057,323 1,487,458,607 1,540,851,109 1,569,750,981 \n \nAssessed Values \n \nPublic Utilities \n \nMotor Vehicles \n \n28,045,755 30,632,259 26,487,026 31,294,800 34,640,971 34,269,621 33,809,411 33,811,678 33,513,721 36,086,991 \n \n128,525,790 133,827,370 115,267,630 113,708,460 119,331,500 124,174,530 104,295,620 \n77,650,790 59,914,540 45,370,860 \n \nMobile \nHomes \n2,165,173 2,091,994 1,945,727 1,831,893 1,737,824 1,645,629 2,275,598 2,168,548 3,230,420 3,030,682 \n \nGross \nTax Digest \n1,695,333,964 1,702,355,582 1,679,523,596 1,658,066,247 1,618,243,422 1,605,836,786 1,570,437,952 1,601,089,623 1,637,509,790 1,654,239,514 \n \nBond \nExemptions \n149,990,795 157,180,465 122,376,559 147,310,052 149,965,965 120,465,804 130,528,110 137,073,427 132,209,935 125,127,703 \n \nGeneral Obligation Bonds \nTax Digest1 \n1,545,343,169 1,545,175,117 1,557,147,037 1,510,756,195 1,468,277,457 1,485,370,982 1,439,909,842 1,464,016,196 1,505,299,855 1,529,111,811 \n \nMaintenance \u0026 Operation \nExemptions \n203,265,241 213,342,187 216,690,191 246,727,800 248,484,241 223,127,568 236,423,353 244,984,605 243,756,849 233,376,929 \n \nMaintenance \u0026 Operation Tax Digest2 \n1,492,068,723 1,489,013,395 1,462,833,405 1,411,338,447 1,369,759,181 1,382,709,218 1,334,014,599 1,356,105,018 1,393,752,941 1,420,862,585 \n \nEstimated Actual \nValue \n4,238,334,910 4,255,888,955 4,198,808,990 4,145,165,618 4,045,608,555 4,014,591,965 3,926,094,880 4,002,724,058 4,093,774,475 4,135,598,785 \n \n-91- \n \n1Total assessed value, after deducting exemptions, for purposes of levying tax for the System's general obligation bonds. 2Total assessed value, after deducting exemptions, for purposes of levying tax for the support and maintenance of the System's school system. \nSource: State of Georgia Department of Revenue, Property Tax Division \n \n Griffin-Spalding County School System Millage Rates of the District Last Ten Calendar Years \n \nUNAUDITED \n \n-92- \n \nSet forth below is information concerting the rate of levy of property taxes per $1,000 of assessed value, or millage rates, of the School System and all overlapping governments for the last ten calendar years. \n \nCalendar Year \n2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 \n \nSupport and Maintenance \n18.80 18.80 18.80 19.06 19.47 19.47 19.47 18.74 18.57 18.204 \n \nSchool System \n \nLegal \n \nDebt \n \nLimit \n \nService \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \n20.00 \n \n0 \n \nTotal \n18.80 18.80 18.80 19.06 19.47 19.47 19.47 18.74 18.57 18.204 \n \nSpalding County 1 \n13.88 14.88 14.81 15.01 15.01 16.01 16.01 16.01 15.66 15.36 \n \nFire District \n3.03 3.23 4.17 4.17 4.17 4.17 4.17 4.17 3.61 3.61 \n \nState of Georgia \n0.25 0.25 0.25 0.25 0.20 0.15 0.10 0.05 0.00 0.00 \n \nCounty-wide Total \n35.96 37.16 38.03 38.49 38.85 39.80 39.75 38.97 37.84 37.17 \n \nCity of Griffin \n8.60 8.60 8.64 8.64 8.64 8.61 8.40 7.89 7.77 7.77 \n \nCity of Orchard Hill \n4.95 4.95 4.95 4.95 4.95 6.31 6.31 6.31 6.31 6.31 \n \nCity of Sunny-Side \n4.36 4.36 4.29 4.29 4.08 5.00 5.00 5.00 5.00 5.00 \n \n1 Represents the millage rate for the unincoporated areas of Spalding County. The millage rate for the incorporated areas of Spalding County for calendar year 2017 was 15.36. \nSource: Spalding County Tax Commissioner \n \n Caterpillar Inc. WellStar Spalding Regional Pulte Home Company LLC Coveris Holding Corp . Norcom Walmart Stores Central GA EMC Hoshizaki America, Inc. AEP Industries North Griffin Square AEP Industries NACOM Corporation Weyerhaeuser Company \nTotals \n \nGriffin-Spalding County School System Principal Property Tax Payers, \nCurrent Year and Nine Years Ago \n \nUNAUDITED \n \nTaxes Levied \n$543,971 $264,241 $229,672 \n175,805 173,694 167,697 155,290 146,334 146,073 136,988 \n \n2018 1 \n \nRank \n \nPercentage \nof \nTotal Tax Levy 2 \n \n1 \n \n2.10% \n \n2 \n \n1.02% \n \n3 \n \n4 \n \n0.68% \n \n5 \n \n6 \n \n0.65% \n \n7 \n \n8 \n \n0.57% \n \n9 \n \n0.56% \n \n10 \n \n0.53% \n \n$2,139,766 \n \n4.01% \n \n2008 \n \nTaxes Levied \n \nRank \n \nPercentage \nof \nTotal Tax Levy 3 \n \n$412,221 280,471 117,198 142,824 \n \n1 \n \n1.47% \n \n3 \n \n1.00% \n \n8 \n \n5 \n \n209,958 \n \n4 \n \n0.75% \n \n113,920 \n128,212 133,070 399,562 115,777 \n \n10 \n \n0.41% \n \n0.00% \n \n7 \n \n0.46% \n \n6 \n \n0.47% \n \n2 \n \n1.42% \n \n9 \n \n0.41% \n \n$2,053,213 \n \n4.93% \n \n1 Represents calendar year 2017 assessed values before bond and maintenance and operation exemptions 2 Calendar year 2017 total tax levy was $25,865,382 3 Calendar year 2008 total tax levy was $28,050,892 \nSource: Spalding County Tax Commissioner \n \n-93- \n \n Griffin-Spalding County School System Property Tax Levies and Collections, Last Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year \n \nTaxes Levied for the \nFiscal Year \n \nCollected within the Fiscal Year of the Levy \n \nAmount \n \nPercentage of Levy \n \nCollections in Subsequent \nYears \n \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \n28,050,892 27,993,452 27,501,268 26,900,111 26,669,211 26,921,348 25,973,264 25,353,871 25,898,024 25,865,382 \n \n26,475,872 25,873,304 25,073,703 25,098,857 24,609,215 24,300,171 23,590,360 23,599,123 24,228,304 24,521,853 \n \n94.39% 92.43% 91.17% 93.30% 92.28% 90.26% 90.83% 93.08% 93.55% 94.81% \n \n1,215,681 1,557,832 1,470,176 1,463,628 1,482,839 1,287,443 1,045,547 \n784,351 654,071 \n \nSource: Spalding County Tax Commissioner \n \nTotal Collections to Date \n \nAmount \n \nPercentage of Levy \n \n27,691,553 27,431,136 26,543,879 26,562,485 26,092,054 25,587,614 24,635,907 24,383,474 24,882,375 24,521,853 \n \n98.72% 97.99% 96.52% 98.74% 97.84% 95.05% 94.85% 96.17% 96.08% 94.81% \n \n-94- \n \n -95- \n \nGross Tax Digest Components \n1,750,000,000 1,700,000,000 1,650,000,000 1,600,000,000 1,550,000,000 1,500,000,000 1,450,000,000 1,400,000,000 1,350,000,000 1,300,000,000 1,250,000,000 \n2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Calendar Year \n \nMobile Homes \nMotor Vehicles \nPublic Utilities \nReal \u0026 Personal Property \n \n Griffin-Spalding County School System Ratio of Annual Debt Service to Total \nGovernmental Fund Expenditures Last Ten Fiscal Years \n \nYear Ended June 30 \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \nPrincipal \n \nInterest \n \nTotal Debt Service \n \nTotal Governmental \nFund Expenditures \n \nRatio of Debt Service to \nGovernmental Fund \nExpenditures \n \n296,560 298,515 4,687,021 4,866,084 4,928,832 \n0 0 0 0 0 \n \n644,019 644,738 535,173 337,402 123,280 \n0 0 446,083 614,127 614,127 \n \n940,579 943,253 5,222,194 5,203,486 5,052,112 \n0 0 446,083 614,127 614,127 \n \n115,394,141 107,266,317 109,908,542 110,830,635 106,642,058 104,639,250 111,976,964 116,348,828 124,520,551 121,190,764 \n \n0.82% 0.88% 4.75% 4.69% 4.74% 0.00% 0.00% 0.38% 0.49% 0.51% \n \n-96- \n \n Griffin-Spalding County School System Ratio of Net Bonded Debt to Estimated Actual Value \nand General Bonded Debt Per Capita Last Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year Ended \nJune 30 \n \nEstimated Population1 \n \nEstimated Actual Value \n \nGeneral Bonded \nDebt \n \nLess Debt Service Funds \n \nNet Bonded Debt \n \nRatio of Net Bonded Debt to Estimated Actual Value \n \nNet Bonded Debt \nPer Capita \n \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \n63,651 64,135 64,082 64,089 63,727 63,619 63,860 64,016 64,806 65,380 \n \n4,238,334,910 4,255,888,955 4,198,808,990 4,145,165,618 4,045,608,555 4,014,591,965 3,926,094,880 4,002,724,058 4,093,774,475 4,135,598,785 \n \n14,177,433 14,122,838 \n9,573,243 4,853,649 \n0 0 0 14,806,760 14,468,699 14,130,638 \n \n1 Source: Bureau of Economic Analysis (Revised) and US Census Bureau \n \n8,679,188 8,092,803 3,832,266 4,954,100 \n605 0 0 \n283,916 369,032 517,219 \n \n5,498,245 6,030,035 5,740,977 -100,451 \n-605 0 0 \n14,522,844 14,099,667 13,613,419 \n \n0.13% 0.14% 0.14% 0.00% 0.00% 0.00% 0.00% 0.36% 0.34% 0.33% \n \n86.38 94.02 89.59 (1.57) (0.01) \n226.86 217.57 208.22 \n \n-97- \n \n Griffin-Spalding County School System Outstanding Debt, By Type Last Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year Ended June 30, \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \nGovernmental Activities \n \nGeneral \n \nCapital \n \nObligation \n \nLease \n \nBonds \n \nObligations \n \n14,177,433 14,122,838 \n9,573,243 4,853,649 \n0 0 0 14,806,760 14,468,699 14,130,638 \n \n780,457 481,943 289,922 \n88,838 0 0 0 0 0 0 \n \nTotal Primary Government \n14,957,890 14,604,781 \n9,863,165 4,942,487 \n0 0 0 14,806,760 14,468,699 14,130,638 \n \nPercentage of Personal \nIncome1 \n0.91% 0.86% 0.58% 0.28% 0.00% 0.00% 0.00% 0.77% 0.72% 0.67% \n \nPer Capita1 \n235.00 227.72 153.91 \n77.12 0.00 0.00 0.00 \n231.30 223.26 216.13 \n \nNote: Details regarding the System's outstanding debt can be found in the notes to the financial statements. \n1See the Schedule of Demographic and Economic Statistics for personal income and population data. The Bureau of Economic Analysis revised estimates for years 2010-2016 in March 2017. \n \n-98- \n \n Griffin-Spalding County School System Direct and Overlapping Governmental Activities Debt \nAs of June 30, 2018 \n \nUNAUDITED \n \nGovernmental Unit \nDebt repaid with property taxes: Spalding County: General obligation bonds Certificates of participation Capital leases Intergovernmental Contracts City of Griffin: General obligation bonds Capital leases Intergovernmental Contracts \nSub-total, overlapping debt \n \nDirect: \n \nGriffin-Spalding County School System: General obligation bonds \nSub-total, direct debt \nTotal, overlapping and direct debt \n \nDebt Outstanding \n \nPercentage Applicable \n \nShare of Overlapping Debt \n \n$8,800,000 2,500,000 399,525 3,285,000 \n9,627,925 523,145 \n3,285,000 \n$28,420,595 \n \n100% \n \n$28,420,595 \n \n14,130,638 $14,130,638 \n \n100% \n \n$14,130,638 $42,551,233 \n \nNotes: In addition to the System's debt obligations, property owners in the System are responsible for certain debt obligations of other taxing entities in the proportion to which the jurisdiction of the System overlaps such entities. Set forth below is the estimated overlapping general obligation debt and estimated overlapping property tax supported or guaranteed revenue debt of the System as of June 30, 2018. The percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable percentages were estimated by determining the portion of the municipality/authority's taxable assessed value that is within the School System's boundaries and dividing it by the municipality/authority's total taxable assessed value. Although the System has attempted to obtain accurate information as to the outstanding overlapping debt, it does not warrant its completeness or accuracy, as there is no central reporting entity which has this information available, and the amounts are based on information supplied by others. \nSource: Spalding County, GA and City of Griffin, GA \n \n-99- \n \n Griffin-Spalding County School System Legal Debt Margin \nLast Ten Fiscal Years \n \nUNAUDITED \n \nAssessed Value of Taxable Property \nDebt Limit (10% of Assessed Value) \nAmount of Debt Applicable To Debt Limit \nLegal Debt Margin \nLegal Debt Margin/ Limit Ratio \n \n2009 $1,545,343,169 \n \n2010 $1,545,175,117 \n \n2011 \n \n2012 \n \n$1,524,221,716 $1,510,756,185 \n \n2013 $1,468,277,457 \n \n2014 \n \n2015 \n \n$1,485,370,982 $1,439,909,842 \n \n2016 \n \n2017 \n \n2018 \n \n$1,464,016,196 $1,505,299,855 $1,529,111,811 \n \n$154,534,317 \n \n$154,517,512 $152,422,172 $151,075,619 \n \n$146,827,746 $148,537,098 $143,990,984 $146,401,620 $150,529,986 $152,911,181 \n \n14,177,433 $140,356,884 \n \n14,122,838 $140,394,674 \n \n9,573,243 $142,848,929 \n \n4,853,649 $146,221,970 \n \n0 $146,827,746 \n \n0 $148,537,098 \n \n0 $143,990,984 \n \n14,806,760 $131,594,860 \n \n14,468,699 $136,061,287 \n \n14,130,638 $138,780,543 \n \n90.83% \n \n90.86% \n \n93.72% \n \n96.79% \n \n100.00% \n \n100.00% \n \n100.00% \n \n89.89% \n \n90.39% \n \n90.76% \n \n-100- \n \nNotes: The Constitution of the State of Georgia provides that the System may not incur long-term obligations payable out of general property taxes without the approval of a majority of the qualified voters of the System voting at an election called to approve the obligations. In addition, under the Constitution of the State of Georgia, the System may not incur long-term obligations payable out of general property taxes in excess of 10 percent of the assessed vaule of all taxable property within the System. \nSource: Spalding County Tax Commissioner \n \n Griffin-Spalding County School System Demographics - Population Latest Census Data \n \nUNAUDITED \n \nPopulation \nPopulation, 2017 est. Population, 2010 Population, percent change, 2010 to 2017 Population, 2000 Population, percent change, 2000 to 2010 Population, percent change, 1990 to 2000 Persons under 5 years old, percent, 2017 Persons under 18 years old, percent, 2017 Persons 65 years old and over, percent, 2017 Female persons, percent, 2017 \nWhite persons, percent, 2017 (a) Black or African American persons, percent, 2017 (a) American Indian and Alaska Native persons, percent, 2017 (a) Asian persons, percent, 2017 (a) Native Hawaiian and Other Pacific Islander, percent, 2017 (a) Persons reporting two or more races, percent, 2017 White persons, not of Hispanic/Latino origin, percent, 2017 Persons of Hispanic or Latino origin, percent, 2017 (b) \nLiving in same house 1 year \u0026 over, 2012-2016 Language other than English spoken at home, pct age 5+, 2012-2016 High school graduates, percent of persons age 25+, 2012-2016 Bachelor's degree or higher, pct of persons age 25+, 2012-2016 Veterans, 2012-2016 Foreign born persons, percent, 2012-2016 Mean travel time to work (minutes), workers age 16+, 2011-2015 \n \nSpalding County \n65,380 64,073 2.00% 58,417 9.7% 7.3% 6.4% 23.8% 17.4% 51.9% \n62.2% 34.2% 0.5% 1.1% 0.1% 1.9% 58.6% 4.6% \n88.4% 4.4% 79.3% 15.4% 4,353 3.4% 28.5 \n \n-101- \n \n Griffin-Spalding County School System Demographics - Housing, Business \u0026 Industry, and Geography \nLatest Census Data (Continued) \n \nUNAUDITED \n \nHousing \nHousing units, 2017 Homeownership rate, 2012-2016 Median value of owner-occupied housing units, 2012-2016 \nHouseholds, 2012-2016 Persons per household, 2012-2016 Median household income, 2012-2016 Persons below poverty, percent, 2012-2016 Building permits, 2017 \nBusiness \u0026 Industry \nUnemployment rate, 2017 Annual Average Nonemployer establishments, 2016 Manufacturers shipments, 2012 ($1000) Retail sales, 2012 ($1000) Retail sales per capita, 2012 Women-owned firms, percent of total, 2012 \n \n27,415 61.0% $110,300 \n22,914 2.74 $40,548 22.4% 242 \n5.8% 4,917 2,404,744 638,821 $10,003 40.0% \n \nGeography \nLand area, 2010 (square miles) Persons per square mile, 2010 FIPS Code Metropolitan or Micropolitan Statistical Area \n(a) Includes persons reporting only one race. (b) Hispanics may be of any race, so also are included in applicable race categories. Z: Value greater than zero but less than half unit of measure shown \nSource: US Census Bureau State \u0026 County QuickFacts Source: Griffin-Spalding Chamber of Commerce Source: Bureau of Labor Statistics \n \n196.47 326.1 255 Atlanta, GA Metro Area \n \n-102- \n \n Griffin-Spalding County School System Demographics - Income Statistics Latest Three Years Available \n \nUNAUDITED \n \nIncome \nPersonal income ($000) Net earnings Personal current transfer receipts Income maintenance Unemployment insurance compensation Retirement and other Dividends, interest, and rent \nPopulation (persons) 1 Per capita personal income Per capita net earnings Per capita personal current transfer receipts Per capita income maintenance Per capita unemployment insurance benefits Per capita retirement and other Per capita dividends, interest, and rent \nEarnings by place of work ($000) Wage and salary disbursements Supplements to wages and salaries Employer contributions for employee pension and insurance funds Employer contributions for government social insurance Proprietors' income Nonfarm proprietors' income Farm proprietors' income \nTotal full-time and part-time employment Wage and salary jobs Number of proprietors \nNumber of nonfarm proprietors Number of farm proprietors \nAverage earnings per job (dollars) Average wage and salary disbursements Average nonfarm proprietors' income \n \n2014 $1,932,618 \n1,041,895 601,389 87,405 4,173 509,811 289,334 \n \n2015 $2,029,135 \n1,093,659 624,278 86,726 3,325 534,227 311,198 \n \n2016 $2,106,982 \n1,141,523 644,698 89,524 2,685 552,489 320,761 \n \n63,860 30,263 16,315 9,417 1,369 \n65 7,983 4,531 \n \n64,016 31,697 17,084 9,752 1,355 \n52 8,345 4,861 \n \n64,806 32,512 17,614 9,948 1,381 \n41 8,525 4,950 \n \n1,096,296 772,658 220,772 165,103 55,669 102,866 104,945 -2,079 \n \n1,172,087 832,844 234,586 174,863 59,723 104,657 106,766 -2,109 \n \n1,193,125 848,323 240,124 180,147 59,977 104,678 107,598 -2,920 \n \n29,576 22,241 \n7,335 7,117 \n218 \n \n30,996 23,500 \n7,496 7,281 \n215 \n \n31,741 24,081 \n7,660 7,441 \n219 \n \n37,067 34,740 14,746 \n \n37,814 35,440 14,664 \n \n37,589 35,228 14,460 \n \nSource: Regional Economic Information System, Bureau of Economic Analysis, U.S. Department of Commerce - Table CA30 The Bureau of Economic Analysis revised estimates for years 2010-2016 in November 2017. The amounts reflected in this table are the revised numbers. The figures provided are the latest available. \n \n-103- \n \n -104- \n \nGriffin-Spalding County School System Demographic and Economic Statistics \nLast Ten Fiscal Years \n \nFiscal Year \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \nPopulation1 \n63,651 64,135 64,082 64,089 63,727 63,619 63,860 64,016 64,806 65,380 \n \nPersonal Income1 \n1,614,845 1,698,102 1,709,489 1,735,056 1,845,151 1,858,203 1,932,618 2,029,135 2,106,982 \nN/A \n \nPer Capita Personal Income1 \n25,370 26,477 26,677 27,073 28,954 29,208 30,263 31,697 32,512 \nN/A \n \nSchool Enrollment2 \n10,823 10,860 10,685 10,614 10,582 10,626 10,474 10,261 10,305 10,383 \n \nData Sources: (1) Bureau of Economic Analysis: Regional Economic Accounts and U.S. Census Bureau (2) Spalding County Board of Education (3) U.S. Bureau of Labor Statistics \n \nUNAUDITED \nUnemployment Rate3 5.80% 8.50% 13.00% 12.80% 11.30% 10.70% 9.50% 7.80% 6.00% 5.80% \n \n Griffin-Spalding County School System Principal Employers \nCurrent Year and Nine Years Ago \n \nUNAUDITED \n \nEmployer \nGriffin-Spalding County School System Caterpillar, Inc. Wellstar Spalding Regional Medical Southern Crescent Technical College CareMaster Medical Spalding County City of Griffin University of Georgia Griffin Campus Norcom 1888 Mills/Southern Terry AEP Industries, Inc. \n \nIndustry \nEducation Automotive generators Healthcare Education Home Nursing Government Government Agricultural research School supplies Terry cloth towels Packaging film \n \nEmployees \n1,488 900 900 640 600 599 466 405 280 278 \n \n2018 \nRank \n1 2 3 4 5 6 7 8 9 10 \n \nPercentage of Total County Employment \n5.22 % 3.15 3.15 2.24 2.10 2.10 1.63 1.42 0.98 0.97 \n \n6,556 \n \n22.97 % \n \nEmployees \n1,608 1,100 \n900 360 \n512 470 300 280 375 250 \n6,155 \n \n2009 \nRank \n1 2 3 7 \n4 5 8 9 6 10 \n \nPercentage of Total County Employment \n5.57 % 3.81 3.11 1.25 \n1.77 1.63 1.04 \n1.30 0.87 \n21.30 % \n \n-105- \n \nSource: Griffin-Spalding Development Authority \n \n -106- \n \nClassroom Teachers Media Specialists,Counselors \nPsychologists, and Social Worker Administrators and Supervisors Professional/Technical Support Paraprofessionals, Clerical, Other Maintenance, Transportation, Custodians, \nand School Food Service \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System Employees of the District Last Ten Fiscal Years \n \nUNAUDITED \n \n2009 806 \n54 66 51 321 \n387 1,685 \n \n2010 749 \n52 64 51 316 \n376 1,608 \n \n2011 749 \n50 64 51 310 \n352 1,576 \n \n2012 717 \n53 62 51 270 \n359 1,512 \n \n2013 673 \n49 55 51 277 \n350 1,455 \n \n2014 657 \n51 55 43 268 \n345 1,419 \n \n2015 674 \n51 60 57 255 \n360 1,457 \n \n2016 658 \n51 65 53 277 \n351 1,455 \n \n2017 676 \n53 66 53 295 \n355 1,498 \n \n2018 674 \n54 75 52 293 \n340 1,488 \n \n Griffin-Spalding County School System General Fund Operating Statistics, Pupil/Teacher Ratio \nLast Ten Fiscal Years \n \nUNAUDITED \n \nFiscal Year \n \nExpenses Enrollment \n \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \n82,236,013 77,701,816 76,877,306 75,770,980 73,537,657 78,467,423 80,290,395 81,428,072 86,043,775 90,702,181 \n \n10,823 10,860 10,685 10,614 10,582 10,626 10,474 10,261 10,305 10,383 \n \nSource: Griffin-Spalding County School System \n \nCost Per Pupil \n7,598 7,155 7,195 7,139 6,949 7,384 7,666 7,936 8,350 8,736 \n \nPercentage Change \n(1.20%) (5.84%) 0.56% (.78%) (2.65%) 6.26% 3.81% 3.52% 5.22% 4.62% \n \nTeaching Staff \n806 749 749 717 673 657 674 658 676 674 \n \nPupil/ Teacher \nRatio \n13.43 14.50 14.27 14.80 15.72 16.17 15.54 15.59 15.24 15.41 \n \nStudent Attendance Percentage \n95.40 95.50 96.38 95.39 97.46 95.36 95.64 97.49 96.49 96.13 \n \n-107- \n \n -108- \n \nAnne Street Elementary (1948) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nAtkinson Elementary (1964) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nBeaverbrook Elementary (1964) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCowan Road Elementary (1991) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCrescent Elementary (1955) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System School Building Information Last Ten Fiscal Years \n \nUNAUDITED \n \n2009 \n \n2010 \n \n2011 \n \n2012 \n \nFiscal Year \n \n2013 \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n40,113 450 445 \n98.9% \n \n40,113 450 442 \n98.2% \n \n40,113 450 428 \n95.1% \n \n40,113 450 458 \n101.8% \n \n40,113 450 447 \n99.3% \n \n40,113 450 487 \n108.2% \n \n40,113 450 453 \n100.7% \n \n40,113 450 428 \n95.1% \n \n40,113 450 427 \n94.9% \n \n40,113 450 429 \n95.3% \n \n53,936 450 455 \n101.1% \n \n53,936 450 446 \n99.1% \n \n53,936 450 459 \n102.0% \n \n53,936 450 465 \n103.3% \n \n53,936 450 448 \n99.6% \n \n53,936 450 427 \n94.9% \n \n53,936 450 457 \n101.6% \n \n53,936 450 450 \n100.0% \n \n53,936 450 448 \n99.6% \n \n53,936 450 468 \n104.0% \n \n55,222 450 457 \n101.6% \n \n55,222 450 458 \n101.8% \n \n55,222 450 466 \n103.6% \n \n55,222 450 426 \n94.7% \n \n55,222 450 429 \n95.3% \n \n55,222 450 464 \n103.1% \n \n55,222 450 431 \n95.8% \n \n55,222 450 371 \n82.4% \n \n55,222 450 347 \n77.1% \n \n55,222 450 356 \n79.1% \n \n76,986 650 672 \n103.4% \n \n76,986 650 663 \n102.0% \n \n76,986 650 663 \n102.0% \n \n76,986 650 584 \n89.8% \n \n76,986 650 627 \n96.5% \n \n76,986 650 631 \n97.1% \n \n76,986 650 633 \n97.4% \n \n76,986 650 616 \n94.8% \n \n76,986 650 686 \n105.5% \n \n76,986 650 643 \n98.9% \n \n48,696 450 412 \n91.6% \n \n48,696 450 404 \n89.8% \n \n48,696 450 424 \n94.2% \n \n48,696 450 415 \n92.2% \n \n48,696 450 441 \n98.0% \n \n48,696 450 442 \n98.2% \n \n48,696 450 465 \n103.3% \n \n48,696 450 423 \n94.0% \n \n48,696 450 419 \n93.1% \n \n48,696 450 426 \n94.7% \n \n -109- \n \nFutral Road Elementary (1998) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nJackson Road Elementary (1970) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nJordan Hill Elementary (1994) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nMoore Elementary (1950) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nMoreland Road Elementary (2006) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System School Building Information \nLast Ten Fiscal Years (Continued) \n \n2009 \n \n2010 \n \n2011 \n \n2012 \n \nFiscal Year \n \n2013 \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n67,000 525 672 \n128.0% \n \n67,000 525 708 \n134.9% \n \n67,000 525 695 \n132.4% \n \n67,000 525 725 \n138.1% \n \n67,000 525 635 \n121.0% \n \n67,000 525 644 \n122.7% \n \n67,000 525 648 \n123.4% \n \n78,760 650 616 \n94.8% \n \n78,760 650 628 \n96.6% \n \n78,760 650 629 \n96.8% \n \n58,729 450 500 \n111.1% \n \n58,729 450 507 \n112.7% \n \n58,729 450 474 \n105.3% \n \n58,729 450 464 \n103.1% \n \n58,729 450 456 \n101.3% \n \n58,729 450 467 \n103.8% \n \n58,729 450 438 \n97.3% \n \n66,121 525 423 \n80.6% \n \n66,121 525 408 \n77.7% \n \n66,121 525 415 \n79.0% \n \n76,986 650 443 \n68.2% \n \n76,986 650 480 \n73.8% \n \n76,986 650 446 \n68.6% \n \n76,986 650 442 \n68.0% \n \n76,986 650 455 \n70.0% \n \n76,986 650 470 \n72.3% \n \n76,986 650 481 \n74.0% \n \n76,986 650 487 \n74.9% \n \n76,986 650 453 \n69.7% \n \n76,986 650 426 \n65.5% \n \n47,190 450 368 \n81.8% \n \n47,190 450 395 \n87.8% \n \n47,190 450 363 \n80.7% \n \n47,190 450 354 \n78.7% \n \n47,190 450 375 \n83.3% \n \n47,190 450 367 \n81.6% \n \n47,190 450 367 \n81.6% \n \n47,190 450 367 \n81.6% \n \n47,190 450 405 \n90.0% \n \n47,190 450 398 \n88.4% \n \n67,852 550 567 \n103.1% \n \n67,852 550 537 \n97.6% \n \n67,852 550 558 \n101.5% \n \n67,852 550 558 \n101.5% \n \n67,852 550 560 \n101.8% \n \n67,852 550 541 \n98.4% \n \n67,852 550 515 \n93.6% \n \n67,852 550 546 \n99.3% \n \n67,852 550 556 \n101.1% \n \n67,852 550 556 \n101.1% \n \n -110- \n \nOrrs Elementary (1962) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCowan Road Middle School (2000) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCarver Road Middle School (2007) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nKennedy Road Middle School (2006) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nTaylor Street Middle School (1949) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System School Building Information \nLast Ten Fiscal Years (Continued) \n \n2009 \n \n2010 \n \n2011 \n \n2012 \n \nFiscal Year \n \n2013 \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n63,117 675 615 \n91.1% \n \n63,117 675 638 \n94.5% \n \n63,117 675 637 \n94.4% \n \n63,117 675 647 \n95.9% \n \n63,117 675 664 \n98.4% \n \n63,117 675 661 \n97.9% \n \n63,117 675 623 \n92.3% \n \n63,117 675 598 \n88.6% \n \n63,117 675 595 \n88.1% \n \n63,117 675 613 \n90.8% \n \n96,500 685 611 \n89.2% \n \n96,500 685 564 \n82.3% \n \n96,500 685 568 \n82.9% \n \n96,500 685 600 \n87.6% \n \n96,500 685 612 \n89.3% \n \n96,500 685 598 \n87.3% \n \n96,500 685 594 \n86.7% \n \n99,529 685 567 \n82.8% \n \n99,529 685 551 \n80.4% \n \n99,529 685 643 \n93.9% \n \n104,024 725 480 \n66.2% \n \n104,024 725 492 \n67.9% \n \n104,024 725 475 \n65.5% \n \n104,024 725 544 \n75.0% \n \n104,024 725 482 \n66.5% \n \n104,024 725 523 \n72.1% \n \n104,024 725 504 \n69.5% \n \n104,024 725 523 \n72.1% \n \n104,024 725 482 \n66.5% \n \n104,024 725 488 \n67.3% \n \n104,024 725 595 \n82.1% \n \n104,024 725 564 \n77.8% \n \n104,024 725 564 \n77.8% \n \n104,024 725 546 \n75.3% \n \n104,024 725 532 \n73.4% \n \n104,024 725 505 \n69.7% \n \n104,024 725 481 \n66.3% \n \n104,024 725 466 \n64.3% \n \n104,024 725 483 \n66.6% \n \n104,024 725 459 \n63.3% \n \n111,884 - \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n805 - \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n579 - \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n71.9% \n \n -111- \n \nRehoboth Road Middle School (2009) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nA.Z. Kelsey Academy (2007) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nGriffin High School (1986) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nSpalding High School (2000) Square Feet Capacity (students) Enrollment Percentage of Capacity used \nCentral Administration Complex (1970) Square Feet \nCentral Warehouse (2003) Square Feet \nTransportation Garage/Warehouse (1964) Square Feet \nGriffin Region College and Career Academy (2017) Square Feet \nOther Special Purpose Instructional Facilities Square Feet \nSource: Griffin-Spalding County School System \n \nGriffin-Spalding County School System School Building Information \nLast Ten Fiscal Years (Continued) \n \n2009 \n \n2010 \n \n2011 \n \n2012 \n \nFiscal Year \n \n2013 \n \n2014 \n \n- \n \n104,024 104,024 104,024 104,024 104,024 \n \n- \n \n725 \n \n725 \n \n725 \n \n725 \n \n725 \n \n- \n \n638 \n \n703 \n \n715 \n \n726 \n \n725 \n \n88.0% 97.0% 98.6% 100.1% 100.0% \n \n71,403 625 82 \n13.1% \n \n71,403 625 112 \n17.9% \n \n71,403 625 104 \n16.6% \n \n71,403 625 119 \n19.0% \n \n71,403 625 90 \n14.4% \n \n71,403 625 80 \n12.8% \n \n309,989 1,950 1,526 78.3% \n \n309,989 1,950 1,437 73.7% \n \n309,989 1,950 1,372 70.4% \n \n309,989 1,950 1,304 66.9% \n \n309,989 1,950 1,342 68.8% \n \n309,989 1,950 1,356 69.5% \n \n175,000 1,150 1,344 \n116.9% \n \n205,904 1,600 1,375 85.9% \n \n205,904 1,600 1,286 80.4% \n \n205,904 1,600 1,248 78.0% \n \n205,904 1,600 1,261 78.8% \n \n205,904 1,600 1,238 77.4% \n \n11,051 47,400 11,600 \n \n11,051 47,400 11,600 \n \n11,051 47,400 11,600 \n \n11,051 47,400 11,600 \n \n11,051 47,400 11,600 \n \n11,051 47,400 11,600 \n \n80,729 80,729 80,729 80,729 80,729 80,729 \n \n2015 \n104,024 725 672 \n92.7% \n71,403 625 59 \n9.4% \n309,989 1,950 1,419 72.8% \n205,904 1,600 1,234 77.1% \n11,051 \n47,400 \n11,600 \n80,729 \n \n2016 \n104,024 725 663 \n91.4% \n71,403 625 60 \n9.6% \n309,989 1,950 1,395 71.5% \n205,904 1,600 1,262 78.9% \n11,051 \n47,400 \n11,600 \n80,729 \n \n2017 \n104,024 725 644 \n88.8% \n71,403 625 57 \n9.1% \n309,989 1,950 1,422 72.9% \n205,904 1,600 1,294 80.9% \n11,051 \n47,400 \n11,600 \n80,729 \n \n2018 \n104,024 725 698 \n96.3% \n71,403 625 46 \n7.4% \n309,989 1,950 1,434 73.5% \n205,904 1,600 1,324 82.8% \n11,051 \n47,400 \n11,600 \n70,350 \n80,729 \n \n Griffin-Spalding County School System Enrollment Statistics Last Ten Fiscal Years \n \n12000 \n \nActive Enrollment by Grade Level \n \n10000 \n \n8000 \n \n6000 \n \n4000 \n \n2000 \n \n0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \nGrade 12 Grade 11 Grade 10 Grade 9 Grade 8 Grade 7 Grade 6 Grade 5 Grade 4 Grade 3 Grade 2 Grade 1 Kindergarten Pre- Kindergarten 1 \n \nUNAUDITED \n \n-112- \n \nFiscal \n \nPre- \n \nGrade \n \nYear Kindergarten 1 Kindergarten \n \n1 \n \n2009 \n \n406 \n \n2010 \n \n441 \n \n2011 \n \n443 \n \n2012 \n \n443 \n \n2013 \n \n478 \n \n2014 \n \n495 \n \n2015 \n \n510 \n \n2016 \n \n508 \n \n2017 \n \n513 \n \n2018 \n \n511 \n \n879 \n \n904 \n \n940 \n \n856 \n \n920 \n \n894 \n \n865 \n \n911 \n \n894 \n \n851 \n \n898 \n \n889 \n \n822 \n \n880 \n \n777 \n \n818 \n \n827 \n \n809 \n \n759 \n \n852 \n \nGrade 2 \n867 873 823 862 870 848 843 849 810 778 \n \nGrade 3 \n901 871 839 810 852 856 820 798 832 820 \n \nGrade 4 \n822 878 834 814 797 837 830 794 806 810 \n \nGrade 5 \n827 819 860 833 795 778 806 781 775 829 \n \nGrade 6 \n796 810 765 839 796 764 709 766 754 745 \n \nGrade 7 \n668 783 783 753 805 796 777 695 719 740 \n \nGrade 8 \n801 665 762 813 751 791 765 758 687 735 \n \nGrade 9 \n1,039 956 823 911 961 854 1,004 1,016 922 813 \n \nGrade 10 \n714 748 711 630 655 701 615 645 748 734 \n \nGrade 11 \n667 652 656 625 562 619 589 566 600 694 \n \nGrade 12 \n532 568 572 505 515 500 504 490 503 563 \n \nTotal \n10,823 10,860 10,685 10,614 10,582 10,626 10,474 10,261 10,305 10,383 \n \nSpec. Ed. 2 \n1,227 1,126 1,052 993 990 969 1,019 1,086 1,132 1,186 \n \n1Griffin-Spalding County School System established the Pre-Kindergarten in FY1998 using proceeds from the state lottery. 2 The System includes Special Education students in the appropriate grade level. The \"Spec. Ed\" column reflects the total number of Special Education sutdents by year for comparative purposes only. \nSource: Griffin-Spalding County School System \n \n Griffin-Spalding County School System Expenditures by Function, Last Ten Fiscal Years \nGeneral Fund \n \n-113- \n \nInstruction Pupil Services Improvement of Instructional Services Educational Media Services General and School Administration Business Administration Maintenance and Operations of Plant Student Transportation Services Central Support Services Other Support Services Food Service Operations Community Services Operations Capital Outlay \nDebt Service \n \n2009 \n \n2010 \n \n2011 \n \n2012 \n \nFiscal Year \n \n2013 \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \nPercentage Change 1 \n \n$54,254,887 1,396,454 2,296,995 1,888,718 7,715,544 456,337 8,311,817 3,241,466 1,262,604 908,779 0 161,947 5,886 \n334,579 \n \n$50,747,372 1,218,061 1,743,197 1,894,322 7,430,511 421,419 8,566,760 3,211,466 1,137,619 715,919 0 152,963 127,629 \n334,578 \n \n$50,219,269 1,323,470 1,719,713 1,845,301 7,555,194 330,052 7,966,957 3,420,009 1,104,120 899,754 0 149,722 129,707 \n214,038 \n \n$49,373,663 1,323,090 1,432,357 1,656,079 7,563,984 335,644 7,726,705 4,092,737 1,139,419 743,246 0 132,624 37,394 \n214,038 \n \n$47,622,661 1,283,338 1,295,508 1,440,932 7,107,099 348,784 7,884,361 4,166,042 1,219,241 888,483 0 126,811 59,560 \n94,837 \n \n$49,529,410 1,522,381 1,333,860 1,483,960 7,367,102 386,548 8,720,795 5,322,915 1,456,213 962,370 69,278 128,120 184,471 \n0 \n \n$50,596,029 1,554,866 2,106,853 1,525,756 7,759,713 384,124 8,124,266 5,275,107 1,593,158 1,079,136 64,269 134,392 92,726 \n0 \n \n$50,941,065 1,658,493 2,469,760 1,528,079 8,460,692 417,103 8,147,720 4,648,579 1,859,430 965,678 61,934 159,403 110,136 \n0 \n \n$54,070,635 1,853,844 3,072,620 1,558,477 9,178,934 433,398 8,114,700 4,834,754 1,771,879 919,821 66,243 145,962 22,509 \n0 \n \n$56,699,614 1,949,092 3,857,445 1,610,344 9,930,839 436,233 8,188,722 4,927,811 1,976,865 842,114 70,697 212,405 0 \n0 \n \n4.5% 39.6% 67.9% -14.7% 28.7% -4.4% -1.5% 52.0% 56.6% -7.3% 100.0% 31.2% -100.0% \n-100.0% \n \n$82,236,013 $77,701,816 $76,877,306 $75,770,980 $73,537,657 $78,467,423 $80,290,395 $81,428,072 $86,043,776 $90,702,181 \n \n10.3% \n \nInstruction Pupil Services Improvement of Instructional Services Educational Media Services General and School Administration Business Administration Maintenance and Operations of Plant Student Transportation Services Central Support Services Other Support Services Food Service Operations Community Services Operations Capital Outlay Debt Service \n \n2009 \n66.0% 1.7% 2.8% 2.3% 9.4% 0.6% \n10.1% 3.9% 1.5% 1.1% 0.0% 0.2% 0.0% 0.4% \n100.0% \n \n2010 \n65.3% 1.6% 2.2% 2.4% 9.6% 0.5% \n11.0% 4.1% 1.5% 0.9% 0.0% 0.2% 0.2% 0.4% \n100.0% \n \n2011 \n65.3% 1.7% 2.2% 2.4% 9.8% 0.4% \n10.4% 4.4% 1.4% 1.2% 0.0% 0.2% 0.2% 0.3% \n100.0% \n \n2012 \n65.2% 1.7% 1.9% 2.2% \n10.0% 0.4% \n10.2% 5.4% 1.5% 1.0% 0.0% 0.2% 0.0% 0.3% \n100.0% \n \n2013 \n64.8% 1.7% 1.8% 2.0% 9.7% 0.5% \n10.7% 5.7% 1.7% 1.2% 0.0% 0.2% 0.1% 0.1% \n100.0% \n \n2014 \n63.1% 1.9% 1.7% 1.9% 9.4% 0.5% \n11.1% 6.8% 1.9% 1.2% 0.1% 0.2% 0.2% 0.0% \n100.0% \n \n2015 \n63.0% 1.9% 2.6% 1.9% 9.7% 0.5% \n10.1% 6.6% 2.0% 1.3% 0.1% 0.2% 0.1% 0.0% \n100.0% \n \n2016 \n62.6% 2.0% 3.0% 1.9% \n10.4% 0.5% \n10.0% 5.7% 2.3% 1.2% 0.1% 0.2% 0.1% 0.0% \n100.0% \n \n2017 \n62.8% 2.2% 3.6% 1.8% \n10.7% 0.5% 9.4% 5.6% 2.1% 1.1% 0.1% 0.2% 0.0% 0.0% \n100.0% \n \n2018 \n62.5% 2.1% 4.3% 1.8% \n10.9% 0.5% 9.0% 5.4% 2.2% 0.9% 0.1% 0.2% 0.0% 0.0% \n100.0% \n \n1Percentage change computed by using the following formula: (2018 expenditure/2009 expenditure)-1 = percentage change \n \nSource: Griffin-Spalding County School System \n \n Griffin-Spalding County School System Per Pupil Expenditures by Function, Last Ten Fiscal Years \nGeneral Fund \n \nUNAUDITED \n \nInstruction Pupil Services Improvement of Instructional Services Educational Media Services General and School Administration Business Administration Maintenance and Operations of Plant Student Transportation Services Central Support Services Other Support Services Food Service Operations Community Services Operations Capital Outlay Debt Service \nTotal Expenditures 2 \nStudent Enrollment 3 \n \n2009 \n$5,012 129 212 174 713 42 768 299 117 84 0 15 1 0 \n$7,597 \n10,823 \n \n2010 \n$4,672 112 160 174 684 39 789 296 105 66 0 14 12 0 \n$7,153 \n10,860 \n \n2011 \n$4,700 124 161 173 707 31 746 320 103 84 0 14 12 20 \n$7,195 \n10,685 \n \n2012 \n$4,652 125 135 156 713 32 728 386 107 70 0 12 4 20 \n$7,139 \n10,614 \n \nFiscal Year \n \n2013 \n \n2014 \n \n$4,500 121 122 136 672 33 745 394 115 84 0 12 6 9 \n \n$4,661 143 126 140 693 36 821 501 137 91 7 12 17 0 \n \n$6,949 \n \n$7,384 \n \n10,582 \n \n10,626 \n \n2015 \n$4,831 148 201 146 741 37 776 504 152 103 6 13 9 0 \n$7,666 \n10,474 \n \n2016 \n$4,965 162 241 149 825 41 794 453 181 94 6 16 11 0 \n$7,937 \n10,261 \n \n2017 \n$5,247 180 298 151 891 42 787 469 172 89 6 14 2 0 \n$8,350 \n10,305 \n \n2018 \n \nPercentage Change 1 \n \n$5,461 188 372 155 956 42 789 475 190 81 7 20 0 0 \n \n8.9% 45.5% 75.1% -11.1% 34.2% -0.3% \n2.7% 58.5% 63.2% -3.4% 100.0% 36.7% -100.0% \n0.0% \n \n$8,736 \n \n15.0% \n \n10,383 \n \n-4.1% \n \n1Percentage change computed by using the following formula: \n(2018 revenue/2009 revenue)-1 = percentage change 2Expenditures restated on a per pupil basis by using the following formula: \nRevenue/current enrollment = per pupil revenue 3Student enrollment figures are taken from fall enrollment (October 1) reports. \n \n-114- \n \n Griffin-Spalding County School System Free and Reduced Lunch Last Ten Fiscal Years \n \n80.00% 75.00% 70.00% 65.00% 60.00% 55.00% 50.00% 45.00% 40.00% 35.00% 30.00% \n \nPercentage of Students Eligible for F\u0026R \n2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 \n \nUNAUDITED \n \nLunch Meals Served Free Reduced Paid \nTotal \nBreakfast Meals Served Free Reduced Paid \nTotal \nAdult \u0026 Non-reimbursable Paid - Breakfast Paid - Lunch Other - Breakfast Other - Lunch \nTotal \nTotal Meals Served Free Reduced Paid Other \nTotal \n \n2009 \n \n2010 \n \n2011 \n \n2012 \n \nFiscal Year \n \n2013 \n \n2014 \n \n2015 \n \n2016 \n \n2017 \n \n2018 \n \n958,939 147,242 353,113 1,459,294 \n \n1,027,745 125,258 315,738 \n1,468,741 \n \n1,046,085 96,503 \n296,584 1,439,172 \n \n1,086,381 110,639 259,927 \n1,456,947 \n \n1,042,616 105,123 216,889 \n1,364,628 \n \n1,046,355 110,333 177,353 \n1,334,041 \n \n1,105,505 99,399 \n165,135 1,370,039 \n \n1,051,121 112,445 162,692 \n1,326,258 \n \n1,011,571 98,288 \n148,076 1,257,935 \n \n977,785 104,952 195,831 1,278,568 \n \n571,647 60,345 76,021 \n708,013 \n \n623,310 48,705 74,907 \n746,922 \n \n621,661 42,375 65,660 \n729,696 \n \n651,752 46,295 57,029 \n755,076 \n \n630,562 43,356 49,963 \n723,881 \n \n637,061 46,232 42,031 \n725,324 \n \n650,732 42,903 40,813 \n734,448 \n \n589,747 46,748 40,611 \n677,106 \n \n566,830 40,197 37,281 \n644,308 \n \n562,633 44,536 62,536 \n669,705 \n \n8,866 49,569 19,179 41,791 119,405 \n \n7,247 39,590 16,965 38,435 102,237 \n \n5,804 36,228 21,200 49,010 112,242 \n \n7,892 42,557 17,096 41,424 108,969 \n \n2,631 29,805 15,655 35,826 83,917 \n \n1,913 23,767 15,493 35,744 76,917 \n \n1,766 25,273 16,113 38,267 81,419 \n \n1,596 27,493 14,969 35,414 79,472 \n \n3,402 27,775 13,204 30,158 74,539 \n \n2,096 20,957 15,888 32,043 70,984 \n \n1,530,586 207,587 487,569 60,970 \n \n1,651,055 173,963 437,482 55,400 \n \n1,667,746 138,878 404,276 70,210 \n \n1,738,133 156,934 367,405 58,520 \n \n1,673,178 148,479 299,288 51,481 \n \n1,683,416 156,565 245,064 51,237 \n \n1,756,237 142,302 232,987 54,380 \n \n1,640,868 159,193 232,392 50,383 \n \n1,578,401 138,485 216,534 43,362 \n \n1,540,418 149,488 281,420 47,931 \n \n2,286,712 2,317,900 2,281,110 2,320,992 2,172,426 2,136,282 2,185,906 2,082,836 1,976,782 2,019,257 \n \n% Eligible for Free and Reduced \n \n66.72% 69.57% 70.73% 73.44% 74.46% 75.58% 76.56% 76.21% 75.34% 76.90% \n \nSource: Griffin-Spalding County School System \n \n-115- \n \n Griffin-Spalding County School System Insurance Coverage \n \nUNAUDITED \n \nInsurance coverage of the System is summarized below. \n \nType \nProperty Boiler \u0026 Machinery Fidelity Bond Superintendent Bond \n \nAmount in Force \n$349,147,927 25,000,000 100,000 100,000 \n \nType \nGeneral Liability School Board Errors and Omissions Automobile Liability Excess Workers' Compensation \n \nLimits of Liability \n \nEach Occurance \n \nAggregate \n \n$1,000,000 1,000,000 1,000,000 Statutory \n \n$2,000,000 1,000,000 1,000,000 Statutory \n \nNotes: The System is partially self-insured for workers compensation claims through a self-insurance program that is periodically reviewed for actuarial soundess by an actuary. Refer to Note 8 and MD\u0026A of the System's financial statements for a discussion of the System's risk management program. The System requires payment and performance surety bonds and builders' risk insurance of all contractors and subcontractors involved in construction related to the System's facilities. \n \n-116- \n \n SINGLE AUDIT, COMPLIANCE AND INTERNAL CONTROL SECTION \n \n Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards \nThe Board of Education Griffin-Spalding County School System Griffin, Georgia \nWe have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of Griffin-Spalding County School System as of and for the year ended June 30, 2018, and the related notes to the financial statements, which collectively comprise Griffin-Spalding County School System's basic financial statements, and have issued our report thereon dated October 31, 2018. \nInternal Control over Financial Reporting \nIn planning and performing our audit of the financial statements, we considered Griffin-Spalding County School System's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Griffin-Spalding County School System's internal control. Accordingly, we do not express an opinion on the effectiveness of Griffin-Spalding County School System's internal control. \nA deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the government's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. \nOur consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. \n5637 Whitesville Rd. P.O. Box 4299, Columbus, Georgia 31914  Telephone 706-324-5435  Fax 706-324-1209  Email info@robinsongrimes.com Members of: American Institute of CPAs and related Private Companies Practice Section, \nEmployee Benefit Plan Audit Quality and Government Audit Quality Center  Center for Audit Quality  Georgia Society of CPAs  CPAmerica International  www.robinsongrimes.com \n-117- \n \n The Board of Education Griffin-Spalding County School System Page Two \nCompliance and Other Matters As part of obtaining reasonable assurance about whether Griffin-Spalding County School System's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. We noted certain matters that we reported to management of the System in a separate letter dated October 31, 2018. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the government's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. \nCertified Public Accountants October 31, 2018 \n-118- \n \n Independent Auditor's Report on Compliance for Each Major Federal Program and Report on Internal Control over Compliance in Accordance with the Uniform Guidance \nThe Board of Education Griffin-Spalding County School System Griffin, Georgia \nReport on Compliance for Each Major Federal Program \nWe have audited Griffin-Spalding County School System's compliance with the types of compliance requirements described in the U.S. Office of Management and Budget Compliance Supplement that could have a direct and material effect on each of Griffin-Spalding County School System's major federal programs for the year ended June 30, 2018. Griffin-Spalding County School System's major federal programs are identified in the summary of auditor's results section of the accompanying schedule of findings and questioned costs. \nManagement's Responsibility \nManagement is responsible for compliance with the requirements of laws, regulations, contracts, and grants applicable to its federal programs. \nAuditor's Responsibility \nOur responsibility is to express an opinion on compliance for each of Griffin-Spalding County School System's major federal programs based on our audit of the types of compliance requirements referred to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations (\"CFR\") Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (\"Uniform Guidance\"). Those standards and the Uniform Guidance require that we plan and perform the compliance audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about Griffin-Spalding County School System's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. \nWe believe that our audit provides a reasonable basis for our opinion on compliance for each major federal program. However, our audit does not provide a legal determination on Griffin-Spalding County School System's compliance. \n5637 Whitesville Rd. P.O. Box 4299, Columbus, Georgia 31914  Telephone 706-324-5435  Fax 706-324-1209  Email info@robinsongrimes.com Members of: American Institute of CPAs and related Private Companies Practice Section, \nEmployee Benefit Plan Audit Quality and Government Audit Quality Center  Center for Audit Quality  Georgia Society of CPAs  CPAmerica International  www.robinsongrimes.com \n-119- \n \n The Board of Education Griffin-Spalding County School System Page Two \nOpinion on Each Major Federal Program \nIn our opinion, Griffin-Spalding County School System complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2018. \nReport on Internal Control over Compliance \nManagement of Griffin-Spalding County School System is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements referred to above. In planning and performing our audit of compliance, we considered Griffin-Spalding County School System's internal control over compliance with the types of requirements that could have a direct and material effect on each major federal program as a basis for designing auditing procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for each major federal program and to test and report on internal control over compliance in accordance with the Uniform Guidance, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of Griffin-Spalding County School System's internal control over compliance. \nA deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. \nOur consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. \n-120- \n \n The Board of Education Griffin-Spalding County School System Page Three The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other purpose. Certified Public Accountants October 31, 2018 \n-121- \n \n GRIFFIN-SPALDING COUNTY BOARD OF EDUCATION GRIFFIN, GEORGIA \nSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED JUNE 30, 2018 \n \nFUNDING AGENCY PROGRAM/GRANT \n \nFEDERAL CFDA \nNUMBER \n \nAgriculture, U. S. Department of Child Nutrition Cluster Pass-Through From Georgia Department of Education Food Services School Breakfast Program National School Lunch Program Cash Assistance Noncash Assistance After School Snacks \n \n10.553 \n10.555 10.550 10.555 \n \n175GA324N1099 175GA324N1099 175GA324N1099 \n \nTotal Child Nutrition Cluster Other Programs \nPass-Through From Georgia Department of Education Commercial Warehouse Storage and Delivery Cost Reimbursement Equipment Stimulus Grant \n \n10.579 \n \nTotal U.S. Department of Agriculture \n \nEducation, U. S. Department of Title I, Part A Cluster Pass-Through From Georgia Department of Education Grants to Local Educational Agencies Flowthrough Regular School Improvement \n \n84.010 84.010 \n \nS010A160010 S010A160010 \n \nTotal Title I, Part A Cluster \n \nSpecial Education Cluster Pass-Through From Georgia Department of Education Individuals with Disabilities Education Act Flowthrough Regular Special Projects Preschool Regular \nTotal Special Education Cluster \n \n84.027 84.027 84.173 \n \nH027A160073 H027A160073 H173A160081 \n \nOther Programs Pass-Through From Georgia Department of Education Career and Technical Education- Basic Grants to States Improving Teacher Quality State Grants English Language Acquisition Grants Student Support and Academic Enrichment Program \n \n84.048 84.367 84.365 84.42A \n \nV048A160010 S367A160001 S365A160010 S424A170011 \n \nTotal U. S. Department of Education \n \nHealth and Human Services, U. S. Department of Pass-Through From Georgia Department of Education Now is the Time: Project AWARE \n \n93.243 \n \nDefense, U. S. Department of Direct Department of the Army R.O.T.C. Program \n \n12.000 \n \nTotal Federal Financial Assistance \n \nH79SM061777 \n \nFEDERAL EXPENDITURES \nIN PERIOD \n \n$ \n \n1,274,349 \n \n3,618,124 510,702 35,410 \n \n5,438,585 \n \n14,344 5,452,929 \n \n4,522,990 73,000 \n4,595,990 \n \n1,951,489 461,168 34,054 \n2,446,711 \n125,244 536,792 41,648 93,439 7,839,824 \n464,928 \n \n304,540 \n \n$ \n \n14,062,221 \n \nSee Independent Auditor's Report and Notes to Schedule of Expenditures of Federal Awards. \n \n-122- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nNOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED JUNE 30, 2018 \nNOTE 1: Summary of Significant Accounting Policies Basis of Accounting - The schedule of expenditures of federal awards has been prepared utilizing the modified accrual basis of accounting. Under this method, revenues are recognized when they become 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 be used to pay liabilities for the current period. Expenditures are recognized when the liability is incurred. \n-123- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE YEAR ENDED JUNE 30, 2018 \n \nSUMMARY OF AUDITOR'S RESULTS \n \n1. An unmodified opinion, dated October 31, 2018, was issued on the financial statements for the year ended June 30, 2018. \n \n2. The \"Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards\" dated October 31, 2018 disclosed no significant deficiencies for the year ended June 30, 2018. \n \n3. The \"Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards\" dated October 31, 2018 disclosed no instances of noncompliance for the year ended June 30, 2018. \n \n4. The \"Independent Auditor's Report on Compliance for Each Major Federal Program and Report on Internal Control over Compliance in Accordance with Uniform Guidance\" dated October 31, 2018, disclosed no significant deficiencies or material weaknesses in internal control over major programs for the year ended June 30, 2018. \n \n5. An unmodified opinion, dated October 31, 2018, was issued on the System's compliance with its major federal programs in the \"Independent Auditor's Report on Compliance for Each Major Federal Program and Report on Internal Control over Compliance in Accordance with Uniform Guidance,\" for the year ended June 30, 2018. \n \n6. No audit findings were disclosed as required under 2 CFR 200.516(a) for the year ended June 30, 2018. \n \n7. The major programs for Griffin-Spalding County School System for the year ended June 30, 2018 were: \n \nChild Nutrition Cluster Food Services School Breakfast Program National School Lunch Program Cash Assistance Noncash Assistance After School Snacks \n \nCFDA No. 10.553 \nCFDA No. 10.555 CFDA No. 10.550 CFDA No. 10.555 \n \n8. The dollar threshold used to distinguish between Type A and Type B threshold programs was $750,000, as described in 2 CFR 200.518. \n \n-124- \n \n GRIFFIN-SPALDING COUNTY SCHOOL SYSTEM GRIFFIN, GEORGIA \nSCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE YEAR ENDED JUNE 30, 2018 \n9. Under 2 CFR 200.520, Griffin-Spalding County School System did qualify as a lowrisk auditee for the year ended June 30, 2018. \nFINDINGS RELATING TO THE FINANCIAL STATEMENTS The \"Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards\" dated October 31, 2018, disclosed no findings required to be reported in accordance with GAGAS for the year ended June 30, 2018. FINDINGS AND QUESTIONED COSTS FOR MAJOR FEDERAL AWARD PROGRAMS The \"Independent Auditor's Report on Compliance for Each Major Federal Program and Report on Internal Control over Compliance in Accordance with Uniform Guidance\" dated October 31, 2018, disclosed no findings or questioned costs for Federal awards as defined in 2 CFR 200.516(a), for the year ended June 30, 2018. \n-125- \n \n "}],"pages":{"current_page":1,"next_page":null,"prev_page":null,"total_pages":1,"limit_value":10,"offset_value":0,"total_count":3,"first_page?":true,"last_page?":true},"facets":[{"name":"type_facet","items":[{"value":"Text","hits":3}],"options":{"sort":"count","limit":16,"offset":0,"prefix":null}},{"name":"creator_facet","items":[{"value":"Georgia. Department of Audits and Accounts","hits":3},{"value":"Griffin-Spalding County School System. 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