{"response":{"docs":[{"id":"dlg_ggpd_1378070965-2025-01-31","title":"Annual financial report, fiscal year 2024, Lanier County Board of Education, Lakeland, Georgia, including independent auditor's report.","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Lanier County, 31.03789, -83.06265"],"dcterms_creator":null,"dc_date":["2025-01-31"],"dcterms_description":["Began with: Fiscal year 2021.","Report year covers fiscal year.","May have supplement: Salaries and travel reimbursement (Lanier County Board of Education, Ga.)"],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Georgia : Georgia Department of Audits \u0026 Accounts, [2022?]-"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Lanier County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Lanier County--Auditing--Periodicals.","Education--Georgia--Lanier County--Finance--Statistics--Periodicals.","Education--Auditing","Education--Finance","Expenditures, Public","Georgia--Lanier County.--fast--(OCoLC)fst01217795","Georgia Government Documents--Serial"],"dcterms_title":["Annual financial report, fiscal year 2024, Lanier County Board of Education, Lakeland, Georgia, including independent auditor's report."],"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_1378070965-2025-01-31"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_1378070965-2025-01-31"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"ANNUAL FINANCIAL REPORT  FISCAL YEAR 2024 \nLanier County Board of Education \nLakeland, Georgia \nIncluding Independent Auditor's Report \nGreg S. Griffin | State Auditor \n \n Lanier County Board of Education \n \nTable of Contents \n \nSection I Financial \nIndependent Auditor's Report \n \nExhibits \n \nBasic Financial Statements \n \nGovernment-Wide Financial Statements \n \nA \n \nStatement of Net Position \n \n1 \n \nB \n \nStatement of Activities \n \n2 \n \nFund Financial Statements \n \nC \n \nBalance Sheet \n \nGovernmental Funds \n \n3 \n \nD \n \nReconciliation of the Governmental Funds Balance Sheet \n \nto the Statement of Net Position \n \n4 \n \nE \n \nStatement of Revenues, Expenditures and Changes in Fund Balances \n \nGovernmental Funds \n \n5 \n \nF \n \nReconciliation of the Governmental Funds Statement of \n \nRevenues, Expenditures and Changes in Fund Balances \n \nto the Statement of Activities \n \n6 \n \nG Notes to the Basic Financial Statements \n \n9 \n \nSchedules \n \nRequired Supplementary Information \n \n1 Schedule of Proportionate Share of the Net Pension Liability \n \nTeachers Retirement System of Georgia \n \n29 \n \n2 Schedule of Contributions  Teachers Retirement System of Georgia \n \n30 \n \n3 Schedule of Proportionate Share of the Net Pension Liability Public \n \nSchool Employees Retirement System of Georgia \n \n31 \n \n4 Schedule of Proportionate Share of the Net OPEB Liability \n \nSchool OPEB Fund \n \n32 \n \n5 Schedule of Contributions  School OPEB Fund \n \n33 \n \n6 Notes to the Required Supplementary Information \n \n34 \n \n7 Schedule of Revenues, Expenditures and Changes in Fund \n \nBalances - Budget and Actual General Fund \n \n35 \n \n Supplementary Information \n \n8 Schedule of Expenditures of Federal Awards \n \n36 \n \n9 Schedule of State Revenue \n \n38 \n \n10 Schedule of Approved Local Option Sales Tax Projects \n \n40 \n \nSection II \nCompliance and Internal Control Reports \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 Federal Program and on Internal Control Over Compliance Required by the Uniform Guidance \n \nSection III Auditee's Response to Prior Year Findings and Questioned Costs Summary Schedule of Prior Audit Findings \n \nSection IV Findings and Questioned Costs Schedule of Findings and Questioned Costs \n \n Section I Financial \n \n Greg S. Griffin State Auditor \nINDEPENDENT AUDITOR'S REPORT \nThe Honorable Brian P. Kemp, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the State Board of Education \nand Mr. Gene Culpepper, Superintendent and Members of the Lanier County Board of Education \nReport on the Audit of the Financial Statements \nOpinions \nWe have audited the accompanying financial statements of the governmental activities and each major fund of the Lanier County Board of Education (School District) as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise the School District's basic financial statements as listed in the table of contents. \nIn our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the School District as of June 30, 2024, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. \nBasis for Opinions \nWe conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. \nWe are required to be independent of the School District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. \nResponsibilities of Management for the Financial Statements \nManagement is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for 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. \n270 Washington Street, SW, Suite 4-101 Atlanta, Georgia 30334 | Phone (404) 656-2180 \n \n In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the School District's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. \nAuditor's Responsibilities for the Audit of the Financial Statements \nOur objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. \nIn performing an audit in accordance with GAAS and Government Auditing Standards, we: \n Exercise professional judgment and maintain professional skepticism throughout the audit. \n Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. \n Obtain an understanding of internal control relevant to the audit 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 School District's internal control. Accordingly, no such opinion is expressed. \n Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. \n Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the School District's ability to continue as a going concern for a reasonable period of time. \nWe are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit. \nRequired Supplementary Information \nManagement has omitted the Management's Discussion and Analysis that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing 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 \n \n financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinions on the basic financial statements are not affected by this missing information. \nAccounting principles generally accepted in the United States of America require that the required supplementary information listed in the table of contents be presented to supplement the basic financial statements. Such information is the responsibility of management and, 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 GAAS, 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 appropriate evidence to express an opinion or provide any assurance. \nSupplementary Information \nOur audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the School District's basic financial statements. The accompanying supplementary information, as listed in the table of contents, is presented for the purposes of additional analysis and is not a required part of the basic financial statements. The Schedule of Expenditures of Federal Awards is presented for purposes of additional analysis as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is also not a required part of the basic financial statements. \nThe supplementary information is the responsibility of management and was derived from and relates 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 basic financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the information is fairly stated, in all material respects, in relation to the basic financial statements as a whole. \nOther Reporting Required by Government Auditing Standards \nIn accordance with Government Auditing Standards, we have also issued our report dated January 31, 2025 on our consideration of the School District'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 School District'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 the School District's internal control over financial reporting and compliance. \n \n A copy of this report has been filed as a permanent record and made available to the press of the State, as provided for by Official Code of Georgia Annotated section 50-6-24. Respectfully submitted, \nGreg S. Griffin State Auditor \nJanuary 31, 2025 \n \n Lanier County Board of Education \n \n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF NET POSITION JUNE 30, 2024 \nASSETS Cash and Cash Equivalents Accounts Receivable, Net \nTaxes State Government Federal Government Inventories Prepaid Items Capital Assets, Non-Depreciable Capital Assets, Depreciable (Net of Accumulated Depreciation) \nTotal Assets \nDEFERRED OUTFLOWS OF RESOURCES Related to Defined Benefit Pension Plan Related to OPEB Plan \nTotal Deferred Outflows of Resources \nLIABILITIES Salaries and Benefits Payable Deposits and Unearned Revenues Net Pension Liability Net OPEB Liability \nTotal Liabilities \nDEFERRED INFLOWS OF RESOURCES Related to Defined Benefit Pension Plan Related to OPEB Plan \nTotal Deferred Inflows of Resources \nNET POSITION Investment in Capital Assets Restricted for \nContinuation of Federal Programs Capital Projects Unrestricted (Deficit) \nTotal Net Position \n \nEXHIBIT \"A\" \n \nGOVERNMENTAL ACTIVITIES \n \n$ \n \n5,133,148.22 \n \n528,183.72 1,719,544.49 1,093,083.83 \n22,231.69 230,000.00 1,779,934.04 32,132,691.43 42,638,817.42 \n \n6,851,071.60 2,886,865.00 9,737,936.60 \n \n2,304,021.85 17,768.00 \n20,915,896.00 11,034,796.00 34,272,481.85 \n \n580,051.00 5,015,642.00 5,595,693.00 \n \n33,912,625.47 \n \n413,509.44 811,333.52 (22,628,889.26) \n \n$ \n \n12,508,579.17 \n \nThe notes to the basic financial statements are an integral part of this statement. \n \n- 1 - \n \n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF ACTIVITIES \nFOR THE YEAR ENDED JUNE 30, 2024 \n \nEXHIBIT \"B\" \n \nEXPENSES \n \nCHARGES FOR SERVICES \n \nPROGRAM REVENUES OPERATING GRANTS AND \nCONTRIBUTIONS \n \nCAPITAL GRANTS AND CONTRIBUTIONS \n \nNET (EXPENSES) REVENUES \nAND CHANGES IN NET POSITION \n \nGOVERNMENTAL ACTIVITIES \n \nInstruction \n \n$ \n \nSupport Services \n \nPupil Services \n \nImprovement of Instructional Services \n \nEducational Media Services \n \nGeneral Administration \n \nSchool Administration \n \nBusiness Administration \n \nMaintenance and Operation of Plant \n \nStudent Transportation Services \n \nCentral Support Services \n \nOther Support Services \n \nOperations of Non-Instructional Services \n \nEnterprise Operations \n \nFood Services \n \n15,835,731.21 $ \n1,598,122.81 1,194,701.81 \n300,592.50 658,172.08 1,360,401.57 283,694.20 2,464,912.35 1,303,228.70 \n16,971.55 299,421.93 \n47,582.01 1,462,480.83 \n \n115,569.93 $ 12,759,955.82 $ \n \n- \n \n311,282.15 \n \n- \n \n487,656.36 \n \n- \n \n251,476.82 \n \n- \n \n583,625.25 \n \n- \n \n592,530.41 \n \n- \n \n3,935.03 \n \n- \n \n776,977.04 \n \n- \n \n224,285.37 \n \n- \n \n141.75 \n \n- \n \n2,500.85 \n \n27,995.75 \n \n38.18 1,296,561.04 \n \n- $ \n88,110.00 - \n- \n \n(2,960,205.46) \n(1,286,840.66) (707,045.45) (49,115.68) (74,546.83) (767,871.16) (279,759.17) \n(1,687,935.31) (990,833.33) (16,829.80) (296,921.08) \n(47,543.83) (137,924.04) \n \nTotal Governmental Activities \n \n$ \n \n26,826,013.55 $ \n \n143,565.68 $ 17,290,966.07 $ \n \n88,110.00 \n \n(9,303,371.80) \n \nGeneral Revenues Taxes Property Taxes For Maintenance and Operations Railroad Cars Sales Taxes Special Purpose Local Option Sales Tax For Capital Projects Other Sales Tax Grants and Contributions not Restricted to Specific Programs Investment Earnings Miscellaneous \nSpecial Item Reimbursement on Cancelled Project Total General Revenues and Special Item \n \n3,818,964.28 9,932.00 \n888,807.82 78,065.21 \n4,121,074.00 36,283.45 \n645,265.49 \n280,000.00 9,878,392.25 \n \nChange in Net Position \n \n575,020.45 \n \nNet Position - Beginning of Year \n \n11,933,558.72 \n \nNet Position - End of Year \n \n$ \n \n12,508,579.17 \n \nThe notes to the basic financial statements are an integral part of this statement. \n \n- 2 - \n \n LANIER COUNTY BOARD OF EDUCATION BALANCE SHEET \nGOVERNMENTAL FUNDS JUNE 30, 2024 \n \nEXHIBIT \"C\" \n \nASSETS Cash and Cash Equivalents Accounts Receivable, Net \nTaxes State Government Federal Government Inventories Prepaid Items \nTotal Assets \nLIABILITIES Salaries and Benefits Payable \nDEFERRED INFLOWS OF RESOURCES Unavailable Revenue - State Funds \nFUND BALANCES Nonspendable Restricted Assigned Unassigned \nTotal Fund Balances \nTotal Liabilities, Deferred Inflows of Resources, and Fund Balances \n \nGENERAL FUND \n \nCAPITAL PROJECTS \nFUND \n \nTOTAL \n \n$ \n \n4,395,459.83 $ \n \n454,538.59 1,719,544.49 1,093,083.83 \n22,231.69 230,000.00 \n \n$ \n \n7,914,858.43 $ \n \n737,688.39 $ \n73,645.13 - \n811,333.52 $ \n \n5,133,148.22 \n528,183.72 1,719,544.49 1,093,083.83 \n22,231.69 230,000.00 \n8,726,191.95 \n \n$ \n \n2,304,021.85 $ \n \n- $ \n \n2,304,021.85 \n \n17,768.00 \n \n- \n \n17,768.00 \n \n252,231.69 391,277.75 351,701.76 4,597,857.38 5,593,068.58 \n \n811,333.52 \n811,333.52 \n \n252,231.69 1,202,611.27 \n351,701.76 4,597,857.38 6,404,402.10 \n \n$ \n \n7,914,858.43 $ \n \n811,333.52 $ \n \n8,726,191.95 \n \nThe notes to the basic financial statements are an integral part of this statement. \n \n- 3 - \n \n LANIER COUNTY BOARD OF EDUCATION RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET \nTO THE STATEMENT OF NET POSITION JUNE 30, 2024 \n \nEXHIBIT \"D\" \n \nTotal fund balances - governmental funds (Exhibit \"C\") \nAmounts reported for governmental activities in the Statement of Net Position are different because: \nCapital assets used in governmental activities are not financial resources and therefore are not reported in the funds. Land Construction in progress Buildings and improvements Equipment Land improvements Accumulated depreciation \nSome liabilities are not due and payable in the current period and, therefore, are not reported in the funds. Net pension liability Net OPEB liability \nDeferred outflows and inflows of resources related to pensions/OPEB are applicable to future periods and, therefore, are not reported in the funds. Related to pensions Related to OPEB \nNet position of governmental activities (Exhibit \"A\") \n \n$ \n \n6,404,402.10 \n \n$ \n \n1,530,086.63 \n \n249,847.41 \n \n39,476,989.37 \n \n3,400,808.39 \n \n1,280,850.31 \n \n(12,025,956.64) \n \n33,912,625.47 \n \n$ \n \n(20,915,896.00) \n \n(11,034,796.00) \n \n(31,950,692.00) \n \n$ \n \n6,271,020.60 \n \n(2,128,777.00) \n \n4,142,243.60 \n \n$ \n \n12,508,579.17 \n \nThe notes to the basic financial statements are an integral part of this statement. \n \n- 4 - \n \n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \nGOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2024 \n \nEXHIBIT \"E\" \n \nREVENUES Property Taxes Sales Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous Total Revenues \nEXPENDITURES Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Enterprise Operations Food Services Operation Capital Outlay Total Expenditures \nRevenues over (under) Expenditures \nOTHER FINANCING SOURCES (USES) Transfers In Transfers Out Total Other Financing Sources (Uses) \nSPECIAL ITEM Reimbursement on Cancelled Project \nNet Change in Fund Balances \nFund Balances - Beginning \nFund Balances - Ending \n \nGENERAL FUND \n \nCAPITAL PROJECTS \nFUND \n \nTOTAL \n \n$ \n \n3,894,951.42 $ \n \n78,065.21 \n \n17,442,343.80 \n \n4,055,024.27 \n \n143,565.68 \n \n26,770.78 \n \n645,265.49 \n \n26,285,986.65 \n \n- $ 888,807.82 \n9,512.67 898,320.49 \n \n3,894,951.42 966,873.03 \n17,442,343.80 4,055,024.27 143,565.68 36,283.45 645,265.49 \n27,184,307.14 \n \n14,142,728.30 \n1,538,318.90 1,120,037.36 \n284,839.77 607,926.35 1,198,420.99 269,644.59 2,230,010.79 1,317,848.46 \n16,971.55 299,421.93 \n47,582.01 1,564,106.65 \n24,637,857.65 \n1,648,129.00 \n \n- \n220,102.50 2,412,688.02 2,632,790.52 (1,734,470.03) \n \n14,142,728.30 \n1,538,318.90 1,120,037.36 \n284,839.77 607,926.35 1,198,420.99 269,644.59 2,450,113.29 1,317,848.46 \n16,971.55 299,421.93 \n47,582.01 1,564,106.65 2,412,688.02 27,270,648.17 \n(86,341.03) \n \n(1,500,000.00) (1,500,000.00) \n \n1,500,000.00 - \n1,500,000.00 \n \n1,500,000.00 (1,500,000.00) \n- \n \n- \n \n148,129.00 \n \n5,444,939.58 \n \n$ \n \n5,593,068.58 $ \n \n280,000.00 45,529.97 \n765,803.55 811,333.52 $ \n \n280,000.00 193,658.97 6,210,743.13 6,404,402.10 \n \nThe notes to the basic financial statements are an integral part of this statement. \n \n- 5 - \n \n LANIER COUNTY BOARD OF EDUCATION RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF \nREVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES JUNE 30, 2024 \n \nEXHIBIT \"F\" \n \nNet change in fund balances total governmental funds (Exhibit \"E\") \nAmounts reported for governmental activities in the Statement of Activities are different because: \nGovernmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of capital assets is allocated over their estimated useful lives as depreciation expense. Capital outlay Depreciation expense \nThe net effect of various miscellaneous transactions involving capital assets (i.e., sales, trade-ins, donations, and disposals) is to decrease net position. \nTaxes reported in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds. \nDistrict pension/OPEB contributions are reported as expenditures in the governmental funds when made. However, they are reported as deferred outflows of resources in the Statement of Net Position because the reported net pension/OPEB liability is measured a year before the District's report date. Pension/OPEB expense, which is the change in the net pension/OPEB liability adjusted for changes in deferred outflows and inflows of resources related to pensions/OPEB, is reported in the Statement of Activities. Pension expense OPEB expense \nChange in net position of governmental activities (Exhibit \"B\") \n \n$ \n \n193,658.97 \n \n$ \n \n2,332,608.04 \n \n(823,793.85) \n \n1,508,814.19 (132,910.17) \n(66,055.14) \n \n$ \n \n(1,735,072.40) \n \n806,585.00 \n \n$ \n \n(928,487.40) 575,020.45 \n \nThe notes to the basic financial statements are an integral part of this statement. \n \n- 6 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nNOTE 1: DESCRIPTION OF SCHOOL DISTRICT AND REPORTING ENTITY \nReporting Entity \nThe Lanier County Board of Education (School District) was established under the laws of the State of Georgia and operates under the guidance of a board elected by the voters and a Superintendent appointed by the Board. The School District is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the School District is a primary government and consists of all the organizations that compose its legal entity. \nNOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nThe accompanying financial statements of the School District have been prepared in conformity with generally accepted accounting principles (GAAP) as prescribed by the Governmental Accounting Standards Board (GASB). GASB is the accepted standard-setting body for governmental accounting and financial reporting principles. The most significant of the School District's accounting policies are described below. \nBasis of Presentation \nThe School District's basic financial statements are collectively comprised of the government-wide financial statements, fund financial statements and notes to the basic financial statements. The government-wide statements focus on the School District as a whole, while the fund financial statements focus on major funds. Each presentation provides valuable information that can be analyzed and compared between years and between governments to enhance the information's usefulness. \nGovernment-Wide Statements: \nThe Statement of Net Position and the Statement of Activities display information about the financial activities of the overall School District. Eliminations have been made to minimize the double counting of internal activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange transactions. \nThe Statement of Net Position presents the School District's assets, deferred outflows of resources, deferred inflows of resources and liabilities, with the difference reported as net position. Net position is reported in three categories as follows: \n1. Investment in capital assets consists of the School District's total investment in capital assets, net of accumulated depreciation. \n2. Restricted net position consists of resources for which the School District is legally or contractually obligated to spend in accordance with restrictions imposed by external third parties or imposed by law through constitutional provisions or enabling legislation. \n3. Unrestricted net position consists of resources not meeting the definition of the two preceding categories. Unrestricted net position often has constraints on resources imposed by management which can be removed or modified. \nThe Statement of Activities presents a comparison between direct expenses and program revenues for each function of the School District's governmental activities. \n \n- 7 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nDirect expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Indirect expenses (expenses of the School District related to the administration and support of the School District's programs, such as office and maintenance personnel and accounting) are not allocated to programs. \nProgram revenues include (a) charges paid by the recipients of goods or services offered by the programs and (b) grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues. \nFund Financial Statements \nThe fund financial statements provide information about the School District's funds. Eliminations have been made to minimize the double counting of internal activities. The emphasis of fund financial statements is on major governmental funds, each displayed in a separate column. \nThe School District reports the following major governmental funds: \n The general fund is the School District's primary operating fund. It accounts for and reports all financial resources not accounted for and reported in another fund. \n The capital projects fund accounts for and reports financial resources including Education Special Purpose Local Option Sales Tax (ESPLOST) that are restricted, committed or assigned for capital outlay expenditures, including the acquisition or construction of capital facilities and other capital assets. \nBasis of Accounting \nThe basis of accounting determines when transactions are reported on the financial statements. The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place. Nonexchange transactions, in which the School District gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, sales taxes, grants and donations. On an accrual basis, revenue from property taxes is recognized in the fiscal year for which the taxes are levied. Revenue from sales taxes is recognized in the fiscal year in which the underlying transaction (sale) takes place. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. \nThe School District uses funds to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. \nGovernmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available. The School District considers certain revenues reported in the governmental funds to be available if they are collected within 60 days after year-end. The School District considers all intergovernmental revenues to be available if they are collected within 120 days after year-end. Property taxes, sales taxes and interest are considered to be susceptible to accrual. Expenditures are recorded \n \n- 8 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nwhen the related fund liability is incurred, except for principal and interest on general long-term debt, which are recognized as expenditures to the extent they have matured. Capital asset acquisitions are reported as expenditures in governmental funds. \nThe School District funds certain programs by a combination of specific cost-reimbursement grants, categorical grants, and general revenues. Thus, when program costs are incurred, there are both restricted and unrestricted resources available to finance the program. It is the School District's policy to first apply grant resources to such programs, followed by cost-reimbursement grants, then general revenues. \nNew Accounting Pronouncements \nIn fiscal year 2024, the School District adopted Governmental Accounting Standards Board (GASB) Statement No. 100, Accounting Changes and Error Corrections. The objective of this statement is to enhance accounting and financial reporting requirements for accounting changes and error corrections to provide more understandable, reliable, relevant, consistent and comparable information for making decisions or assessing accountability. The adoption of this statement did not have a material impact on the School District's financial statements. This statement will be applied prospectively. \nCash and Cash Equivalents \nCash and cash equivalents consist of cash on hand, demand deposits, investments in the State of Georgia local government investment pool (Georgia Fund 1) and short-term investments with original maturities of three months or less from the date of acquisition in authorized financial institutions. Official Code of Georgia Annotated (O.C.G.A.) 45-8-14 authorizes the School District to deposit its funds in one or more solvent banks, insured Federal savings and loan associations or insured chartered building and loan associations. \nReceivables \nReceivables consist of amounts due from property and sales taxes, grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the basic financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \nInventories \nFood Inventories \nOn the basic financial statements, inventories of donated food commodities used in the preparation of meals are reported at their Federally assigned value and purchased foods inventories are reported at cost (calculated on the first-in, first-out basis). The School District uses the consumption method to account for inventories whereby donated food commodities are recorded as an asset and as revenue when received, and expenses/expenditures are recorded as the inventory items are used. Purchased foods are recorded as an asset when purchased and expenses/expenditures are recorded as the inventory items are used. \nPrepaid Items \nPayments made to vendors for services that will benefit future accounting periods are recorded as prepaid items, in both the government-wide and governmental fund financial statements. \n- 9 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nCapital Assets \n \nOn the government-wide financial statements, capital assets are recorded at cost where historical records are available and at estimated historical cost based on appraisals or deflated current replacement cost where no historical records exist. Donated capital assets are recorded at the acquisition value on the date donated. The cost of normal maintenance and repairs that do not add to the value of assets or materially extend the useful lives of the assets is not capitalized. The School District does not capitalize book collections or works of art. \n \nCapital acquisition and construction are recorded as expenditures in the governmental fund financial statements at the time of purchase (including ancillary charges), and the related assets are reported as capital assets in the governmental activities column in the government-wide financial statements. \n \nDepreciation is computed using the straight-line for all assets, except land, and is used to allocate the actual or estimated historical cost of capital assets over estimated useful lives. \n \nCapitalization thresholds and estimated useful lives of capital assets reported in the government-wide statements are as follows: \n \nCapitalization Policy \n \nEstimated Useful Life \n \nLand Land Improvements Buildings and Improvements Equipment Intangible Assets \n \nAny Amount \n \n$ \n \n100,000.00 \n \n$ \n \n100,000.00 \n \n$ \n \n25,000.00 \n \n$ \n \n100,000.00 \n \nN/A 15 years \n25 to 60 years 5 to 25 years \n10 to 20 years \n \nDeferred Outflows/Inflows of Resources \nIn addition to assets, the statement of financial position 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 (expense/expenditure) until then. \nIn addition to liabilities, the statement of financial position 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 (revenue) until that time. \nPensions \nFor 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 pension plan's fiduciary net position and additions to/deductions from the plan's fiduciary net position have been determined on the same basis as they are reported by the plan. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. \n \n- 10 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nPost-Employment Benefits Other Than Pensions (OPEB) \nFor purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the Georgia School Employees Post-Employment Benefit Fund (School OPEB Fund) and additions to/deductions from School OPEB Fund fiduciary net position have been determined on the same basis as they are reported by School OPEB Fund. For this purpose, benefit payments are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. \nFund Balances \nFund balance for governmental funds is reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. \nThe School District's fund balances are classified as follows: \nNonspendable consists of resources that cannot be spent either because they are in a nonspendable form or because they are legally or contractually required to be maintained intact. \nRestricted consists of resources that can be used only for specific purposes pursuant constraints either (1) externally imposed by creditors, grantors, contributors, or laws and regulations of other governments or (2) imposed by law through constitutional provisions or enabling legislation. \nCommitted consists of resources that can be used only for specific purposes pursuant to constraints imposed by formal action of the Board. The Board is the School District's highest level of decisionmaking 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. Committed fund balance also should incorporate contractual obligations to the extent that existing resources in the fund have been specifically committed for use in satisfying those contractual requirements. \nAssigned consists of resources constrained by the School District's intent to be used for specific purposes but are neither restricted nor committed. The intent should be expressed by (1) the Board or (2) the budget or finance committee, or the Superintendent, or designee, to assign amounts to be used for specific purposes. \nUnassigned 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. \nUse of Estimates \nThe preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates. \nProperty Taxes \nThe Lanier County Board of Commissioners adopted the property tax levy for the 2023 tax digest year (calendar year) on October 5, 2023 (levy date) based on property values as of January 1, 2023. Taxes were due on December 20, 2023 (lien date). Taxes collected within the current fiscal year or within 60 \n- 11 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \ndays after year-end on the 2023 tax digest are reported as revenue in the governmental funds for fiscal year 2024. The Lanier County Tax Commissioner bills and collects the property taxes for the School District, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the School District. Property tax revenues, at the fund reporting level, during the fiscal year ended June 30, 2024, for maintenance and operations amounted to $3,337,358.28. \n \nThe tax millage rate levied for the 2023 tax digest year (calendar year) for the School District was as follows (a mill equals $1 per thousand dollars of assessed value): \n \nSchool Operations \n \n16.331 mills \n \nAdditionally, Title Ad Valorem Tax revenues, at the fund reporting level, amounted to $547,661.14 during fiscal year ended June 30, 2024. \nSales Taxes \nEducation Special Purpose Local Option Sales Tax (ESPLOST), at the fund reporting level, during the year amounted to $888,807.82 and is to be used for capital outlay for educational purposes or debt service. This sales tax was authorized by local referendum and the sales tax must be re-authorized at least every five years. \nNOTE 3: BUDGETARY DATA \nThe budget is a complete financial plan for the School District's fiscal year and is based upon careful estimates of expenditures together with probable funding sources. The budget is legally adopted each year for the general fund. There is no statutory prohibition regarding over expenditure of the budget at any level. The budget for all governmental funds except the various school activity (principal) accounts, is prepared and adopted by fund and function. The legal level of budgetary control was established by the Board at the aggregate fund level. The budget for the general fund was prepared in accordance with accounting principles generally accepted in the United States of America. \nThe budgetary process begins with the School District's administration presenting an initial budget for the Board's review. The administration makes revisions as necessary based on the Board's guidelines, and a tentative budget is approved. 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, as well as the School District's website. At the next regularly scheduled meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final budget. The approved budget is then submitted, in accordance with provisions of O.C.G.A. 20-2-167(c), to the Georgia Department of Education. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. \nSee the General Fund Schedule of Revenues, Expenditures and Changes in Fund Balances  Budget to Actual in the Supplementary Information Section for a detail of any over/under expenditures during the fiscal year under review. \n \n- 12 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nNOTE 4: DEPOSITS \nCollateralization of Deposits \nO.C.G.A. 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value of securities pledged shall be equal to not less than 110% of the public funds being secured after the deduction of the amount of deposit insurance. If a depository elects the pooled method (O.C.G.A. 45-8-13.1) the aggregate of the market value of the securities pledged to secure a pool of public funds shall be not less than 110% of the daily pool balance. \nAcceptable security for deposits consists of any one of or any combination of the following: \n(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \n(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, \n(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia, \n(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and \n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by or securities guaranteed by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \nCategorization of Deposits \nCustodial credit risk is the risk that in the event of a bank failure, the School District's deposits may not be returned to it. The School District does not have a deposit policy for custodial credit risk. At June 30, 2024, the School District had deposits with a carrying amount of $5,133,148.22, and a bank balance of $6,461,887.67. The bank balances insured by Federal depository insurance were $500,000.00 and the bank balances collateralized with securities held by the pledging financial institution's trust department or agent in the School District's name were $5,961,887.67. \n \n- 13 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nNOTE 5: CAPITAL ASSETS \nThe following is a summary of changes in the capital assets for governmental activities during the fiscal year: \n \nGovernmental Activities Capital Assets, \nNot Being Depreciated: \nLand Construction in Progress \n \nBalances July 1, 2023 \n \nIncreases \n \nDecreases \n \nBalances June 30, 2024 \n \n$ \n \n1,530,086.63 $ \n \n11,389,723.43 \n \n- $ 249,847.41 \n \n- $ 11,389,723.43 \n \n1,530,086.63 249,847.41 \n \nTotal Capital Assets Not Being Depreciated \n \n12,919,810.06 \n \n249,847.41 \n \n11,389,723.43 \n \n1,779,934.04 \n \nCapital Assets, Being Depreciated: \nBuildings and Improvements Equipment Land Improvements \n \n26,453,247.65 3,293,461.05 1,307,247.31 \n \n13,023,741.72 448,742.34 - \n \n341,395.00 \n26,397.00 \n \n39,476,989.37 3,400,808.39 1,280,850.31 \n \nLess Accumulated Depreciation: Buildings and Improvements Equipment Land Improvements \n \n8,536,045.32 2,066,938.23 \n834,061.07 \n \n574,629.10 207,259.33 \n41,905.42 \n \n208,484.84 \n26,396.99 \n \nTotal Capital Assets, Being Depreciated, Net \n \n19,616,911.39 \n \n12,648,690.21 \n \n132,910.17 \n \nGovernmental Activities Capital Assets - Net \n \n$ \n \n32,536,721.45 $ \n \n12,898,537.62 $ \n \n11,522,633.60 $ \n \nCurrent year depreciation expense by function is as follows: \n \nInstruction \n \nSupport Services \n \nPupil Services \n \n$ \n \nGeneral Administration \n \nSchool Administration \n \nMaintenance and Operation of Plant \n \nStudent Transportation Services \n \nFood Services \n \n$ \n17,718.88 15,438.45 41,275.55 31,980.65 167,319.30 \n \n518,269.73 \n273,732.83 31,791.29 \n \n$ 823,793.85 \n \n9,110,674.42 2,065,712.72 \n849,569.50 \n32,132,691.43 \n33,912,625.47 \n \n- 14 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nNOTE 6: INTERFUND TRANSFERS Interfund transfers for the year ended June 30, 2024, consisted of the following: \n \nTransfers to \n \nTransfers From General Fund \n \nCapital Projects Fund \n \n$ 1,500,000.00 \n \nTransfers are used to move property tax revenues collected by the general fund to the capital projects fund as required match or as a supplemental funding source for capital construction projects. \n \nNOTE 7: LONG-TERM LIABILITIES On May 24, 2022, the voters of Lanier County approved an ESPLOST that authorized the issuance of $8,500,000.00 in general obligation bonds. \nOf the total amount originally authorized, $8,500,000.00 was unissued as of June 30, 2024. \n \nNOTE 8: RISK MANAGEMENT Insurance \n \nCommercial Insurance \nThe School District is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors or omissions; job related illness or injuries to employees; and natural disasters. Except as described below, the School District carries commercial insurance for these risks. Settled claims resulting from these insured risks have not exceed commercial insurance coverage in any of the past three fiscal years. \nWorkers' Compensation \n \nGeorgia Education Workers' Compensation Trust \nThe School District participates in the Georgia Education Workers' Compensation Trust (the Trust), a public entity risk pool organized on December 1, 1991, to develop, implement and administer a program of workers' compensation self-insurance for its member organizations. The School District pays an annual premium to the Trust for its general workers' compensation insurance coverage. Specific excess of loss insurance coverage is provided through an agreement by the Trust with the Safety National Casualty Company to provide coverage for potential losses sustained by the Trust in excess of $1.0 million loss per occurrence, up to the statutory limit. Employers' Liability insurance coverage is also provided with limits of $2.0 million. The Trust covers the first $1.0 million of each Employers Liability claim with Safety National providing additional Employers Liability limits up to a $2.0 million per occurrence maximum. Safety National Casualty Company also provides $2.0 million in self-funded coverage to the Trust, as approved by the Department of Insurance, attaching at 107% of the loss fund and based on the Fund's annual normal premium. \n \n- 15 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nUnemployment Compensation \n \nThe School District is self-insured with regard to unemployment compensation claims. The School District accounts for claims within the general fund with expenses/expenditures and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. The School District had no claims in the past two years. \n \nSurety Bond \n \nThe School District purchased surety bonds to provide additional insurance coverage as follows: \n \nPosition Covered \n \nAmount \n \nSuperintendent \n \n$ \n \nPrincipals \n \n$ \n \nBookkeepers \n \n$ \n \nNutrition Managers \n \n$ \n \nNutrition Cashiers \n \n$ \n \n100,000.00 5,000.00 4,000.00 3,000.00 2,000.00 \n \nNOTE 9: FUND BALANCE CLASSIFICATION DETAILS \n \nThe School District's financial statements include the following amounts presented in the aggregate at June 30, 2024: \n \nNonspendable \n \nInventories \n \n$ 22,231.69 \n \nPrepaid Assets \n \n230,000.00 $ 252,231.69 \n \nRestricted \n \nContinuation of Federal Programs $ 391,277.75 \n \nCapital Projects \n \n811,333.52 1,202,611.27 \n \nAssigned \n \nSchool Activity Accounts \n \n351,701.76 \n \nUnassigned \n \n4,597,857.38 \n \nFund Balance, June 30, 2024 \n \n$ 6,404,402.10 \n \nWhen multiple categories of fund balance are available for an expenditure, the School District will start with the most restricted category and spend those funds first before moving down to the next category with available funds. \n \nNOTE 10: BROADBAND SPECTRUM AGREEMENT \nEffective July 29, 2011 and August 15, 2012, the School District entered into agreements which were 10 and 11 year agreements with Spectrum Holdings, Inc. for the use of excess spectrum capacity on Education Broadband Service licenses currently held by the School District. These licenses were granted to the School District by the Federal Communications Commission (FCC). The agreements with Spectrum Holdings, Inc. include two additional renewal terms of 10 years each that become effective automatically conditioned only upon the School District's desire to not extend the agreement and the FCC approval of the renewal of the agreements. Effective August 7, 2020, Spectrum Holdings, Inc. \n \n- 16 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nassigned all of its right, title, and interest of the agreements to SoniqWave Networks, LLC. The agreements require monthly payments over the term of the agreement, of which $46,435.23 was recognized during fiscal year 2024 as a general revenue on the Statement of Activities. \nNOTE 11: SIGNIFICANT CONTINGENT LIABILITIES \nFederal Grants \nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any costs which are disallowed under grant terms. Any disallowances resulting from the grantor audit may become a liability of the School District. However, the School District believes that such disallowances, if any, will be immaterial to its overall financial position. \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 multiple-employer defined benefit post-employment 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 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 payas-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 $400,477.00 for the year ended June 30, 2024. 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 \nAt June 30, 2024, the School District reported a liability of $11,034,796.00 for its proportionate share of the net OPEB liability. The net OPEB liability was measured as of June 30, 2023. The total OPEB liability used to calculate the net OPEB liability was based on an actuarial valuation as of June 30, 2022. An expected total OPEB liability as of June 30, 2023 was determined using standard roll-forward techniques. The School District's proportion of the net OPEB liability was actuarially determined based \n- 17 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \non employer contributions during the fiscal year ended June 30, 2023. At June 30, 2023, the School District's proportion was 0.100743%, which was a decrease of 0.001249% from its proportion measured as of June 30, 2022. \n \nFor the year ended June 30, 2024, the School District recognized OPEB expense of ($406,108.00). At June 30, 2024, the School District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: \n \nOPEB Deferred Outflows of Resources \n \nDeferred Inflows of Resources \n \nDifferences between expected and actual \n \nexperience \n \n$ \n \n321,646.00 $ 3,169,323.00 \n \nChanges of assumptions \n \n2,004,806.00 \n \n1,378,079.00 \n \nNet difference between projected and actual \n \nearnings on OPEB plan investments \n \n6,620.00 \n \n- \n \nChanges in proportion and differences between School District contributions and proportionate share of contributions \n \n153,316.00 \n \n468,240.00 \n \nSchool District contributions subsequent to \n \nthe measurement date \n \n400,477.00 \n \n- \n \nTotal \n \n$ \n \n2,886,865.00 $ 5,015,642.00 \n \nSchool District contributions subsequent to the measurement date 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, 2025. 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: \n \nOPEB \n \n2025 2026 2027 2028 2029 Thereafter \n \n$ \n \n(893,827.00) \n \n$ \n \n(676,259.00) \n \n$ \n \n(746,928.00) \n \n$ \n \n(288,002.00) \n \n$ \n \n61,864.00 \n \n$ \n \n13,898.00 \n \n- 18 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nActuarial Assumptions: The total OPEB liability as of June 30, 2023 was determined by an actuarial valuation as of June 30, 2022 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, 2023: \n \nOPEB: \n \nInflation \n \n2.50% \n \nSalary increases \n \n3.00%  8.75%, including inflation \n \nLong-term expected rate of return \n \n7.00%, compounded annually, net of investment expense, and including inflation \n \nHealthcare cost trend rate \n \n7.00% \n \nUltimate trend rate Year of Ultimate trend rate \n \n4.50% 2032 \n \nThe Plan currently uses mortality tables that vary by age, gender, and health status (i.e. disabled or not disabled) as follows: \n \n For TRS members: Post-retirement mortality rates for service retirements and beneficiaries were based on the Pub-2010 Teachers Headcount Weighted Below Median Healthy Retiree mortality table (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. Post-retirement mortality rates for disability retirements were based on the Pub-2010 Teachers Mortality Table for Disabled Retirees (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. The Pub-2010 Teachers Headcount Weighted Below Median Employee mortality table with ages set forward one year and adjusted 106% was used for death prior to retirement. Future improvement in mortality rates was assumed using the MP-2019 projection scale generationally. These rates of improvement were reduced by 20% for all years prior to the ultimate rate. \n For PSERS members: Pre-retirement mortality rates were based on the Pub-2010 General Employee Mortality Table, with no adjustment, with the MP-2019 Projections scale applied generationally. Post-retirement mortality rates for service retirements were based on the Pub-2010 General Healthy Annuitant Mortality Table (ages set forward one year and adjusted 101% for males and 103% for females) with the MP-2019 Projection scale applied generationally. Postretirement mortality rates for disability retirements were based on the Pub-2010 General Disabled Mortality Table (ages set back three years for males and adjusted 103% for males and 106% for females) with the MP-2019 Projections scaled applied generationally. Postretirement mortality rates for beneficiaries were based on the Pub-2010 General Contingent Survivor Mortality Table (ages set forward two years and adjusted 104% for males and 99% for females) with the MP-2019 Project scale applied generationally. \n \n- 19 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nThe actuarial assumptions used in the June 30, 2022 valuation were based on the results of an actuarial experience study for the pension systems, which covered the five-year period ending June 30, 2018, with the exception of the assumed annual rate of inflation which was changed from 2.75% to 2.50%, effective with the June 30, 2018 valuation. \n \nThe remaining actuarial assumptions (e.g., initial per capita costs, health care cost trends, rate of plan participation, rates of plan election, etc.) used in the June 30, 2022 valuation were based on a review of recent plan experience done concurrently with the June 30, 2022 valuation. \n \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. \n \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. The 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 \n \nTarget Allocation \n \nLong-Term Expected Real Rate of Return* \n \nFixed income Equities \nTotal \n \n30.00% 70.00% \n100.00% \n \n1.50% 9.40% \n \n* Net of inflation \nDiscount Rate: In order to measure the total OPEB liability for the School OPEB Fund, a single equivalent interest rate of 3.68% was used as the discount rate, as compared with last year's rate of 3.57%. The plan's fiduciary net position was projected to not be able to make all future benefit payments of current plan members. Therefore, the municipal bond rate as used for the long-term rate of return was applied to all periods of projected benefit payments to determine total OPEB liability. This is comprised mainly of the yield or index rate for 20 year tax-exempt general obligation bonds with an average rating of AA or higher (3.65% 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 2128. \n \n- 20 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nSensitivity of the School 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 3.68%, as well as what the School 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 (2.68%) or 1-percentage-point higher (4.68%) than the current discount rate: \n \nSchool District's proportionate share \n \nof the Net OPEB Liability \n \n$ \n \n1% Decrease (2.68%) \n \nCurrent Discount Rate (3.68%) \n \n1% Increase (4.68%) \n \n12,508,451.00 $ \n \n11,034,796.00 $ 9,793,668.00 \n \nSensitivity of the School 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 1percentage-point lower or 1-percentage-point higher than the current healthcare cost trend rates: \n \n1% Decrease \n \nCurrent Healthcare Cost Trend Rate \n \n1% Increase \n \nSchool District's proportionate share \n \nof the Net OPEB liability \n \n$ \n \n9,505,014.00 $ \n \n11,034,796.00 $ \n \n12,920,688.00 \n \nOPEB Plan Fiduciary Net Position: Detailed information about the OPEB plan's fiduciary net position is available in the Annual Comprehensive Financial Report, which is publicly available at https://sao.georgia.gov/statewide-reporting/acfr. \n \nNOTE 13: RETIREMENT PLANS \nThe School District participates in various retirement plans administered by the State of Georgia, as further explained below. \n \nTeachers Retirement System of Georgia (TRS) \n \nPlan Description: All teachers of the School District as defined in O.C.G.A. 47-3-60 and certain other support personnel as defined by O.C.G.A. 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 Board of Trustees (TRS Board). Title 47 of the O.C.G.A. assigns the authority to establish and amend the benefit provisions to the State Legislature. The Teachers Retirement System of Georgia issues a publicly available separate 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 \n \n- 21 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \ncompensation up to the time of disability. Death benefits equal the amount that would be payable to the employee's beneficiary had the employee 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 O.C.G.A., contribution requirements of active employees and participating employers, as actuarially determined, are established and may be amended by the TRS Board. Pursuant to O.C.G.A. 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 6.00% of their annual pay during fiscal year 2024. The School District's contractually required contribution rate for the year ended June 30, 2024 was 19.98% of annual School District payroll, of which 0.25% of payroll was required from the School District and 19.73% of payroll was required from the State. For the current fiscal year, employer contributions to the pension plan were $2,166,122.60 and $25,084.80 from the School District and the State, respectively. \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 O.C.G.A. 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 $16.00, 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 O.C.G.A. 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 current fiscal year contribution was $30,561.00. \n \n- 22 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nPension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions \n \nAt June 30, 2024, the School District reported a liability of $20,915,896.00 for its proportionate share of the net pension liability for TRS. \n \nThe TRS net pension liability reflected a reduction for support provided to the School District by the State of Georgia for certain public school support personnel. The amount recognized by the School District as its proportionate share of the net pension liability, the related State of Georgia support, and the total portion of the net pension liability that was associated with the School District were as follows: \n \nSchool District's proportionate share of the net pension liability \n \n$ \n \n20,915,896.00 \n \nState of Georgia's proportionate share of the net pension liability associated with the School District \n \n195,746.00 \n \nTotal \n \n$ \n \n21,111,642.00 \n \nThe net pension liability for TRS was measured as of June 30, 2023. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2022. An expected total pension liability as of June 30, 2023 was determined using standard roll-forward techniques. The School District's proportion of the net pension liability was based on contributions to TRS during the fiscal year ended June 30, 2023. \nAt June 30, 2023, the School District's TRS proportion was 0.070843%, which was a decrease of 0.000170% from its proportion measured as of June 30, 2022. \nAt June 30, 2024, the School District 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 School District is $193,097.00. \nThe PSERS net pension liability was measured as of June 30, 2023. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2022. An expected total pension liability as of June 30, 2023 was determined using standard roll-forward techniques. The State's proportion of the net pension liability associated with the School District was based on actuarially determined contributions paid by the State during the fiscal year ended June 30, 2023. \nFor the year ended June 30, 2024, the School District recognized pension expense of $3,924,771.66 for TRS and $34,851.00 for PSERS and revenue of $23,577.00 for TRS and $34,851.00 for PSERS. The revenue is support provided by the State of Georgia. For TRS the State of Georgia support is provided only for certain support personnel. \n \n- 23 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nAt June 30, 2024, the School District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: \n \nTRS Deferred Outflows of Resources \n \nDeferred Inflows of Resources \n \nDifferences between expected and actual experience \n \n$ 1,062,081.00 $ \n \n86,480.00 \n \nChanges of assumptions \n \n2,151,797.00 \n \n- \n \nNet difference between projected and \n \nactual earnings on pension plan \n \ninvestments \n \n1,471,071.00 \n \n- \n \nChanges in proportion and differences between School District contributions and proportionate share of contributions \n \n- \n \n493,571.00 \n \nSchool District contributions subsequent to \n \nthe measurement date \n \n2,166,122.60 \n \n- \n \nTotal \n \n$ 6,851,071.60 $ 580,051.00 \n \nThe School District contributions subsequent to the measurement date for TRS 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, 2025. 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: \n \nTRS \n \n2025 2026 2027 2028 \n \n$ 1,104,869.00 $ 723,260.00 $ 2,795,052.00 $ (518,283.00) \n \n- 24 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nActuarial Assumptions: The total pension liability as of June 30, 2023 was determined by an actuarial valuation as of June 30, 2022, using the following actuarial assumptions, applied to all periods included in the measurement: \n \nTeachers Retirement System: \n \nInflation \n \n2.50% \n \nSalary increases \n \n3.00%  8.75%, average, including inflation \n \nInvestment rate of return \n \n6.90%, net of pension plan investment expense, including inflation \n \nPost-retirement benefit increases \n \n1.50% semi-annually \n \nPost-retirement mortality rates for service retirements and beneficiaries were based on the Pub-2010 Teachers Headcount Weighted Below Median Healthy Retiree mortality table (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. Post-retirement mortality rates for disability retirements were based on the Pub-2010 Teachers Mortality Table for Disabled Retirees (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. The Pub-2010 Teachers Headcount Weighted Below Median Employee mortality table with ages set forward one year and adjusted 106% was used for death prior to retirement. Future improvement in mortality rates was assumed using the MP-2019 projection scale generationally. These rates of improvement were reduced by 20% for all years prior to the ultimate rate. \n \nThe actuarial assumptions used in the June 30, 2022 valuation were based on the results of an actuarial experience study for the period July 1, 2013  June 30, 2018. \n \nPublic School Employees Retirement System: \n \nInflation \n \n2.50% \n \nSalary increases Investment rate of return \n \nN/A \n7.00%, net of pension plan investment expense, including inflation \n \nPost-retirement benefit increases \n \n1.50% semi-annually \n \n- 25 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \nMortality rates are as follows: \n The Pub-2010 General Employee Table, with no adjustments, projected generationally with the MP-2019 scale is used for both males and females while in active service. \n The Pub-2010 Family of Tables projected generationally with the MP-2019 Scale and with further adjustments are used for post-retirement mortality assumptions as follows: \n \nParticipant Type \n \nMembership Table \n \nSet Forward (+)/ Setback (-) Adjustment to Rates \n \nService Retirees \n \nGeneral Healthy BelowMedian Annuitant \n \nMale: +2; Female: +2 \n \nMale: 101%; Female: 103% \n \nDisability Retirees \n \nGeneral Disabled \n \nMale: -3; Female: 0 \n \nMale: 103%; Female: 106% \n \nBeneficiaries \n \nGeneral Below-Median Contingent Survivors \n \nMale: +2; Female: +2 \n \nMale: 104%; Female: 99% \n \nThe actuarial assumptions used in the June 30, 2022 valuation were based on the results of an actuarial experience study for the period July 1, 2014  June 30, 2019. \n \nThe long-term expected rate of return on TRS 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 returns, net of pension plan investment expense and 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. The target allocation and estimates of arithmetic real rates of return for each major asset class are summarized in the following table: \n \nAsset Class \n \nTRS/PSERS Target \nAllocation \n \nLong-Term Expected Real Rate of Return* \n \nFixed income Domestic large stocks Domestic small stocks International developed market stocks International emerging market stocks Alternative \n \n30.00% 46.30% \n1.20% 12.30% \n5.20% 5.00% \n \n0.90% 9.40% 13.40% 9.40% 11.40% 10.50% \n \nTotal \n \n100.00% \n \n* Rates shown are net of inflation \nDiscount Rate: The discount rate used to measure the total TRS pension liability was 6.90%. The discount rate used to measure the total PSERS pension liability was 7.00%. 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 nonemployer 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 and PSERS pension plans' fiduciary net position were projected to be \n- 26 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2024 \n \nEXHIBIT \"G\" \n \navailable 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. \nSensitivity of the School District's Proportionate Share of the Net Pension Liability to Changes in the Discount Rate: The following presents the School District's proportionate share of the net pension liability calculated using the discount rate of 6.90%, as well as what the School District's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower (5.90%) or 1-percentage-point higher (7.90%) than the current rate: \n \nTeachers Retirement System: \nSchool District's proportionate share of the net pension liability \n \n1% Decrease (5.90%) \n \nCurrent Discount Rate (6.90%) \n \n$ 33,070,465.00 $ \n \n20,915,896.00 $ \n \n1% Increase (7.90%) \n10,990,055.00 \n \nPension Plan Fiduciary Net Position: Detailed information about the pension plan's fiduciary net position is available in the separately issued TRS and PSERS financial report which is publicly available at www.trsga.com/publications and http://www.ers.ga.gov/financials. \nNOTE 14: SPECIAL ITEM \nIn fiscal year 2022, the School District entered an agreement with a contractor for a fiber project for high-speed internet. The initial payment to the contractor was made in fiscal year 2022. The project was cancelled in fiscal year 2022 subsequent to the initial payment being made. In fiscal year 2024, the contractor provided the School District a partial reimbursement of the initial payment for the cancelled project. A special item in the amount of $280,000.00 is presented on the Statement of Activities and Statement of Revenue, Expenditures and Changes in Fund Balances. \n \n- 27 - \n \n (This page left intentionally blank) \n \n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY TEACHERS RETIREMENT SYSTEM OF GEORGIA \n \nSCHEDULE \"1\" \n \nFor the Year Ended \nJune 30 \n \nSchool District's proportion \nof the Net Pension Liability (NPL) \n \nSchool District's proportionate share \nof the NPL \n \nState of Georgia's proportionate share \nof the NPL associated with the \nSchool District \n \nTotal \n \nSchool District's covered payroll \n \nSchool District's proportionate share of the NPL as a percentage of its covered payroll \n \nPlan fiduciary net position as a percentage \nof the total pension liability \n \n2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 \n \n0.070843% $ 20,915,896.00 $ 0.071013% $ 23,059,294.00 $ 0.073144% $ 6,469,099.00 $ 0.075658% $ 18,327,329.00 $ 0.078097% $ 16,792,967.00 $ 0.078119% $ 14,500,560.00 $ 0.077289% $ 14,364,399.00 $ 0.081000% $ 16,711,203.00 $ 0.085361% $ 12,995,365.00 $ 0.086077% $ 10,874,694.00 $ \n \n195,746.00 321,472.00 \n59,965.00 239,090.00 221,693.00 193,046.00 \n88,094.00 - \n \n$ 21,111,642.00 $ 23,380,766.00 $ 6,529,064.00 $ 18,566,419.00 $ 17,014,660.00 $ 14,693,606.00 $ 14,452,493.00 $ 16,711,203.00 $ 12,995,365.00 $ 10,874,694.00 \n \n$ 10,427,686.50 $ 9,707,908.99 $ 9,604,892.92 $ 9,888,112.93 $ 9,657,911.18 $ 9,444,838.90 $ 8,928,966.37 $ 8,891,828.15 $ 9,010,349.20 $ 8,781,604.24 \n \n200.58% 237.53% \n67.35% 185.35% 173.88% 153.53% 160.87% 187.94% 144.23% 123.83% \n \n76.29% 72.85% 92.03% 77.01% 78.56% 80.27% 79.33% 76.06% 81.44% 84.03% \n \n- 29 - \n \n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION \nSCHEDULE OF CONTRIBUTIONS TEACHERS RETIREMENT SYSTEM OF GEORGIA \n \nSCHEDULE \"2\" \n \nFor the Year Ended June 30 \n \nContractually required contribution \n \nContributions in relation to the contractually required \ncontribution \n \nContribution deficiency (excess) \n \nSchool District's covered payroll \n \nContribution as a percentage of covered \npayroll \n \n2024 \n \n$ \n \n2023 \n \n$ \n \n2022 \n \n$ \n \n2021 \n \n$ \n \n2020 \n \n$ \n \n2019 \n \n$ \n \n2018 \n \n$ \n \n2017 \n \n$ \n \n2016 \n \n$ \n \n2015 \n \n$ \n \n2,166,122.60 $ 2,063,598.00 $ 1,898,867.00 $ 1,813,872.00 $ 2,063,452.62 $ 1,992,198.43 $ 1,566,854.00 $ 1,266,399.00 $ 1,268,863.94 $ 1,184,860.93 $ \n \n2,166,122.60 $ 2,063,598.00 $ 1,898,867.00 $ 1,813,872.00 $ 2,063,452.62 $ 1,992,198.43 $ 1,566,854.00 $ 1,266,399.00 $ 1,268,863.94 $ 1,184,860.93 $ \n \n- \n \n$ \n \n10,976,886.15 \n \n- \n \n$ \n \n10,427,686.50 \n \n- \n \n$ \n \n9,707,908.99 \n \n- \n \n$ \n \n9,604,892.92 \n \n- \n \n$ \n \n9,888,112.93 \n \n- \n \n$ \n \n9,657,911.18 \n \n- \n \n$ \n \n9,444,838.90 \n \n- \n \n$ \n \n8,928,966.37 \n \n- \n \n$ \n \n8,891,828.15 \n \n- \n \n$ \n \n9,010,349.20 \n \n19.73% 19.79% 19.56% 18.88% 20.87% 20.63% 16.59% 14.18% 14.27% 13.15% \n \n- 30 - \n \n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA \n \nSCHEDULE \"3\" \n \nFor the Year Ended \nJune 30 \n \nSchool District's proportion of the Net Pension Liability (NPL) \n \nSchool District's proportionate share \nof the NPL \n \nState of Georgia's proportionate share \nof the NPL associated with the \nSchool District \n \nTotal \n \nSchool District's covered payroll \n \nSchool District's proportionate share of the NPL as a percentage of its covered payroll \n \nPlan fiduciary net position as a \npercentage of the total pension \nliability \n \n2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 \n \n0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n193,097.00 $ 253,570.00 $ \n22,806.00 $ 167,656.00 $ 167,020.00 $ 131,113.00 $ 147,035.00 $ 178,428.00 $ 110,965.00 $ \n98,846.00 $ \n \n193,097.00 $ 253,570.00 $ \n22,806.00 $ 167,656.00 $ 167,020.00 $ 131,113.00 $ 147,035.00 $ 178,428.00 $ 110,965.00 $ \n98,846.00 $ \n \n402,686.00 396,409.87 318,784.20 318,810.15 320,317.34 307,414.03 334,920.33 282,307.57 273,965.88 253,172.53 \n \nN/A \n \n85.67% \n \nN/A \n \n81.21% \n \nN/A \n \n98.00% \n \nN/A \n \n84.45% \n \nN/A \n \n85.02% \n \nN/A \n \n85.26% \n \nN/A \n \n85.69% \n \nN/A \n \n81.00% \n \nN/A \n \n87.00% \n \nN/A \n \n88.29% \n \n- 31 - \n \n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET OPEB LIABILITY \nSCHOOL OPEB FUND \n \nSCHEDULE \"4\" \n \nFor the Year Ended \nJune 30 \n \nSchool District's proportion of the Net OPEB Liability (NOL) \n \nSchool District's proportionate share \nof the NOL \n \nState of Georgia's proportionate \nshare of the NOL associated with the School District \n \nTotal \n \nSchool District's covered-employee \npayroll \n \nSchool District's proportionate share of the NOL as a percentage of its coveredemployee payroll \n \nPlan fiduciary net position \nas a percentage of the total OPEB \nliability \n \n2024 2023 2022 2021 2020 2019 2018 \n \n0.100743% $ 11,034,796.00 $ 0.101992% $ 10,100,453.00 $ 0.100505% $ 10,885,523.00 $ 0.101855% $ 14,960,127.00 $ 0.105197% $ 12,909,929.00 $ 0.106227% $ 13,501,126.00 $ 0.105796% $ 14,864,296.00 $ \n \n- \n \n$ 11,034,796.00 $ 8,836,456.64 \n \n- \n \n$ 10,100,453.00 $ 8,793,133.30 \n \n- \n \n$ 10,885,523.00 $ 8,568,849.18 \n \n- \n \n$ 14,960,127.00 $ 8,392,067.68 \n \n- \n \n$ 12,909,929.00 $ 8,080,443.72 \n \n- \n \n$ 13,501,126.00 $ 8,039,138.97 \n \n- \n \n$ 14,864,296.00 $ 7,642,002.71 \n \n124.88% 114.87% 127.04% 178.27% 159.77% 167.94% 194.51% \n \n6.05% 6.17% 6.14% 3.99% 4.63% 2.93% 1.61% \n \nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \n \n- 32 - \n \n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION \nSCHEDULE OF CONTRIBUTIONS SCHOOL OPEB FUND \n \nSCHEDULE \"5\" \n \nFor the Year Ended June 30 \n \nContractually required contribution \n \nContributions in relation to the contractually required \ncontribution \n \nContribution deficiency (excess) \n \nSchool District's covered-employee \npayroll \n \nContribution as a percentage of \ncovered-employee payroll \n \n2024 \n \n$ \n \n2023 \n \n$ \n \n2022 \n \n$ \n \n2021 \n \n$ \n \n2020 \n \n$ \n \n2019 \n \n$ \n \n2018 \n \n$ \n \n400,477.00 $ 387,299.00 $ 368,779.00 $ 373,860.00 $ 344,448.00 $ 566,562.00 $ 550,563.00 $ \n \n400,477.00 $ 387,299.00 $ 368,779.00 $ 373,860.00 $ 344,448.00 $ 566,562.00 $ 550,563.00 $ \n \n- \n \n$ \n \n9,441,822.33 \n \n- \n \n$ \n \n8,836,456.64 \n \n- \n \n$ \n \n8,793,133.30 \n \n- \n \n$ \n \n8,568,849.18 \n \n- \n \n$ \n \n8,392,067.68 \n \n- \n \n$ \n \n8,080,443.72 \n \n- \n \n$ \n \n8,039,138.97 \n \n4.24% 4.38% 4.19% 4.36% 4.10% 7.01% 6.85% \n \nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \n \n- 33 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION \nFOR THE YEAR ENDED JUNE 30, 2024 \n \nSCHEDULE \"6\" \n \nTeachers Retirement System Change of benefit terms: There have been no changes in benefit terms. \nChanges of assumptions: On November 18, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to rates of mortality, retirement, disability, withdrawal and salary increases. The expectation of retired life mortality was changed to RP-2000 White Collar Mortality Table with future mortality improvement projected to 2025 with the Society of Actuaries' projection scale BB (set forward one year for males). \nOn May 15, 2019, the Board adopted recommended changes from the smoothed valuation interest rate methodology that has been in effect since June 30, 2009, to a constant interest rate method. In conjunction with the methodology, the long-term assumed rate of return in assets (discount rate) has been changed from 7.50% to 7.25%, and the assumed annual rate of inflation has been reduced from 2.75% to 2.50%. \nIn 2019 and later, the expectation of retired life mortality was changed to the Pub-2010 Teacher Headcount Weighted Below Median Healthy Retiree mortality table from the RP-2000 Mortality Tables. In 2019, rates of withdrawal, retirement, disability and mortality were adjusted to more closely reflect actual experience. \nOn May 11, 2022, the Board adopted recommended changes to the long-term assumed rate of return and payroll growth assumption utilized by the System. The long-term assumed rate of return was changed from 7.25% to 6.90%, and the payroll growth assumption was changed from 3.00% to 2.50%. \nPublic School Employees Retirement System Changes of benefit terms: There have been no changes in benefit terms. \nChanges of assumptions: On December 17, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to rates of mortality, retirement and withdrawal. The expectation of retired life mortality was changed to 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). \nA new funding policy was initially adopted by the Board on March 15, 2018, and most recently amended on December 17, 2020. Because of this new funding policy, the assumed investment rate of return was reduced from 7.50% to 7.40% for the June 30, 2017 actuarial valuation and further reduced from 7.40% to 7.30% for the June 30, 2018 actuarial valuation. \nOn December 17, 2020, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System based on the experience study prepared for the five-year period ending June 30, 2019. Primary among the changes were the updates to rates or mortality, retirement, disability, and withdrawal. This also included a change to the long-term assumed investment rate of return to 7.00%. These assumption changes are reflected in the calculation of the June 30, 2021 Total Pension Liability. \nSchool OPEB Fund Changes of benefit terms: There have been no changes in benefit terms. \nChanges in assumptions: June 30, 2022 valuation: The tobacco use assumption and aging factors were revised. \nJune 30, 2020 valuation: Decremental assumptions were changed to reflect the Employees' Retirement System's experience study. Approximately 0.10% of employees are members of the Employees' Retirement System. \nJune 30, 2019 valuation: Decremental assumptions were changed to reflect the Teachers Retirement System's experience study. \nJune 30, 2018 valuation: The inflation assumption was lowered from 2.75% to 2.50%. \nJune 30, 2017 valuation: The participation assumption, tobacco use assumption and morbidity factors were revised. \nJune 30, 2015 valuation: Decremental and underlying inflation assumptions were changed to reflect the Retirement Systems' experience studies. \nJune 30, 2012 valuation: A data audit was performed and data collection procedures and assumptions were changed. \nThe 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, back to 3.58% as of June 30, 2019, to 2.22% as of June 30, 2020, to 2.20% as of June 30, 2021, to 3.57% as of June 30, 2022, and to 3.68% as of June 30, 2023. \n \n- 34 - \n \n LANIER COUNTY BOARD OF EDUCATION GENERAL FUND \nSCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL \nYEAR ENDED JUNE 30, 2024 \n \nSCHEDULE \"7\" \n \nREVENUES Property Taxes Sales Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous Total Revenues \nEXPENDITURES Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Enterprise Operation Food Services Operation Total Expenditures \nExcess of Revenues over (under) Expenditures \nOTHER FINANCING SOURCES(USES) Other Sources Other Uses Total Other Financing Sources (Uses) \nNet Change in Fund Balances \nFund Balances - Beginning \nAdjustments \nFund Balances - Ending \n \nNONAPPROPRIATED BUDGETS \n \nORIGINAL (1) \n \nFINAL (1) \n \nACTUAL AMOUNTS \n \nVARIANCE OVER/UNDER \n \n$ \n \n3,379,427.76 $ \n \n3,379,427.76 $ \n \n3,894,951.42 $ \n \n30,000.00 \n \n30,000.00 \n \n78,065.21 \n \n16,669,845.00 \n \n16,669,845.00 \n \n17,442,343.80 \n \n2,882,078.00 \n \n3,512,499.28 \n \n4,055,024.27 \n \n25,000.00 \n \n25,000.00 \n \n143,565.68 \n \n22,500.00 \n \n22,500.00 \n \n26,770.78 \n \n150,400.00 \n \n150,400.00 \n \n645,265.49 \n \n23,159,250.76 \n \n23,789,672.04 \n \n26,285,986.65 \n \n515,523.66 48,065.21 \n772,498.80 542,524.99 118,565.68 \n4,270.78 494,865.49 2,496,314.61 \n \n14,381,957.42 \n1,428,061.75 1,070,561.49 \n278,388.14 497,940.93 1,372,108.48 246,069.48 1,720,660.10 1,366,708.47 \n17,000.00 194,072.00 \n3,000.31 1,169,621.20 23,746,149.77 (586,899.01) \n \n14,181,235.58 \n1,467,635.75 1,251,050.26 \n278,388.14 507,688.93 1,372,108.48 246,069.48 1,920,660.10 1,360,708.47 \n17,000.00 194,072.00 \n3,000.31 1,169,621.20 23,969,238.70 (179,566.66) \n \n14,142,728.30 \n1,538,318.90 1,120,037.36 \n284,839.77 607,926.35 1,198,420.99 269,644.59 2,230,010.79 1,317,848.46 \n16,971.55 299,421.93 \n47,582.01 1,564,106.65 24,637,857.65 1,648,129.00 \n \n38,507.28 \n(70,683.15) 131,012.90 \n(6,451.63) (100,237.42) 173,687.49 \n(23,575.11) (309,350.69) \n42,860.01 28.45 \n(105,349.93) (44,581.70) \n(394,485.45) (668,618.95) 1,827,695.66 \n \n241,314.00 (741,314.00) (500,000.00) \n \n(1,086,899.01) \n \n5,204,939.58 \n \n42,389.95 \n \n$ \n \n4,160,430.52 $ \n \n241,923.00 (741,923.00) (500,000.00) \n(679,566.66) \n5,204,939.58 \n(2,594.67) \n4,522,778.25 $ \n \n(1,500,000.00) (1,500,000.00) \n148,129.00 \n5,444,939.58 \n- \n5,593,068.58 $ \n \n(241,923.00) (758,077.00) (1,000,000.00) \n827,695.66 \n240,000.00 \n2,594.67 \n1,070,290.33 \n \nNotes to the Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual \n(1) Original and Final Budget amounts do not include the budgeted revenues or expenditures of the various principal accounts. The actual revenues and expenditures of the various principal accounts are $574,311.79 and $548,481.00, respectively. \nThe accompanying schedule of revenues, expenditures and changes in fund balances budget and actual is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the fund financial statements. \n \nSee notes to the basic financial statements. \n \n- 35 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \nYEAR ENDED JUNE 30, 2024 \n \nSCHEDULE \"8\" \n \nFUNDING AGENCY PROGRAM/GRANT Agriculture, U. S. Department of \nChild Nutrition Cluster Pass-Through From Georgia Department of Education Food Services School Breakfast Program National School Lunch Program COVID-19 - National School Lunch Program Total Child Nutrition Cluster \nOther Programs Pass-Through From Georgia Department of Education Food Services State Administrative Expenses for Child Nutrition Child Nutrition Discretionary Grants Limited Availability Total Other Programs Total U. S. Department of Agriculture \nEducation, U. S. Department of Direct Impact Aid Payments for Federally Connected Children - Section 7003 \nEducation Stabilization Fund Pass-Through From Georgia Department of Education COVID-19 - Elementary and Secondary School Emergency Relief Fund COVID-19 - American Rescue Plan Elementary and Secondary School Emergency Relief Fund COVID-19 - American Rescue Plan Elementary and Secondary School Emergency Relief Fund - Homeless Children and Youth Total Education Stabilization Fund \nSpecial Education Cluster Pass-Through From Georgia Department of Education Special Education Grants to States Grants to States Preschool Grants Total Special Education Cluster \nOther Programs Pass-Through From Georgia Department of Education Career and Technical Education - Basic Grants to States Comprehensive Literacy Development Migrant Education State Grant Program Migrant Education State Grant Program Student Support and Academic Enrichment Program Title I Grants to Local Educational Agencies Title I Grants to Local Educational Agencies Total Other Programs Total U.S. Department of Education \nTotal Expenditures of Federal Awards \n \nASSISTANCE LISTING NUMBER \n \nPASSTHROUGH \nENTITY ID \nNUMBER \n \nEXPENDITURES IN PERIOD \n \n10.553 10.555 10.555 \n \n245GA324N1199 $ 245GA324N1199 225GA324N1099 \n \n294,813.59 1,070,119.11 \n47,777.41 1,412,710.11 \n \n10.560 10.579 \n \n245GA904N2533 202321I500345 \n \n7,191.83 66,824.00 74,015.83 1,486,725.94 \n \n84.041B \n \n84.425D 84.425U 84.425W \n \nS425D210012 S425U210012 S425W210011 \n \n48,768.00 \n10,377.00 81,031.93 \n3,955.50 95,364.43 \n \n84.027A 84.027A 84.173A \n \nH027A220073 H027A230073 H173A230081 \n \n84,670.00 405,235.60 \n13,324.00 503,229.60 \n \n84.048A 84.371C 84.011A 84.011A 84.424A 84.010A 84.010A \n \nV048A230010 S371C190016 S011A220011 S011A230011 S424A220011 S010A220010 S010A230010 \n$ \n \n34,939.00 578,773.90 \n20,000.00 17,960.79 134,845.65 109,805.00 908,693.19 1,805,017.53 2,452,379.56 \n3,939,105.50 \n- 36 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \nYEAR ENDED JUNE 30, 2024 \n \nSCHEDULE \"8\" \n \nNotes to the Schedule of Expenditures of Federal Awards \nNote 1. Basis of Presentation \nThe accompanying schedule of expenditures of federal awards (the \"Schedule\") includes the federal award activity of the Lanier County Board of Education (the \"Board\") under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Board, it is not intended to and does not present the financial position or changes in net position of the Board. \nNote 2. Summary of Significant Accounting Policies \nExpenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. \nNote 3. Indirect Cost Rate \nThe Board has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. \nNote 4. Transfers Between Programs Funds totaling $169,050.00 were transferred from the Title II-A Supporting Effective Instruction State Grants program (ALN 84.367A) and the Title IV-A Student Support and Academic Enrichment program (ALN 84.424A) and expended in the Title I-A Improving the Academic Achievement of the Disadvantaged program (ALN 84.010A) during Fiscal Year 2024. \n \nSee notes to the basic financial statements. \n \n- 37 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2024 \nAGENCY/FUNDING GRANTS Bright From the Start: Georgia Department of Early Care and Learning Pre-Kindergarten Program Education, Georgia Department of Quality Basic Education Direct Instructional Cost Kindergarten Program Kindergarten Program - Early Intervention Program Primary Grades (1-3) Program Primary Grades - Early Intervention (1-3) Program Upper Elementary Grades (4-5) Program Upper Elementary Grades - Early Intervention (4-5) Program Middle School (6-8) Program High School General Education (9-12) Program Vocational Laboratory (9-12) Program Students with Disabilities Gifted Student - Category VI Remedial Education Program Alternative Education Program English Speakers of Other Languages (ESOL) Media Center Program 20 Days Additional Instruction Staff and Professional Development Principal Staff and Professional Development Indirect Cost Central Administration School Administration Facility Maintenance and Operations Mid-Term Adjustment Hold-Harmless Categorical Grants Pupil Transportation Regular Nursing Services Sparsity Education Equalization Funding Grant Other State Programs Career, Technical and Agricultural Education (CTAE) Dyslexia Screener State Grant Food Services Hygiene Products Math and Science Supplements One-time Adjustment - SHBP Preschool Disability Services School Bus Regular Funding School Security Grant Teachers Retirement Office of the State Treasurer Public School Employees Retirement CONTRACTS Human Resources, Georgia Department of Family Connections Georgia Chamber Foundation Workforce Preparedness \nSee notes to the basic financial statements. \n \nSCHEDULE \"9\" \n \nGOVERNMENTAL FUND TYPE GENERAL FUND \n \n$ \n \n501,498.80 \n \n336,409.00 449,826.00 1,407,440.00 435,243.00 576,463.00 303,367.00 1,164,388.00 1,056,691.00 531,703.00 2,719,717.00 390,438.00 212,576.00 \n91,727.00 54,845.00 230,055.00 69,405.00 44,372.00 \n1,357.00 \n501,739.00 530,246.00 443,387.00 213,136.00 \n \n188,764.00 45,414.00 35,057.00 \n4,121,074.00 \n66,113.00 3,693.00 \n41,108.00 1,373.00 \n12,164.86 195,132.00 \n30,294.34 88,110.00 200,000.00 25,084.80 \n30,561.00 \n \n58,975.00 33,397.00 \n \n$ \n \n17,442,343.80 \n \n- 38 - \n \n (This page left intentionally blank) \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \nYEAR ENDED JUNE 30, 2024 \n \nSCHEDULE \"10\" \n \nPROJECT SPLOST V \ni) To repay previously incurred debt on the issuance or sale of obligation bonds; \nii) Adding to, renovating, repairing, improving, and equipping existing school buildings and other buildings and facilities; \niii) Acquiring technology improvements for existing schools, including safety and security improvements, computer technology, hardware and software; \niv) Acquiring school buses, maintenance vehicles and equipment; \nv) Acquiring any necessary property therefore, both real and personal; \nvi) Acquire band instruments, textbooks and instructional materials; and \nvii) To pay expenses incident to accomplishing the foregoing. Subtotal SPLOST V Projects \nSPLOST VI i) Acquiring, constructing, and installing new athletic facilities and a new broadband network; \nii) Acquiring school buses and related transportation; equipment; \niii) Acquiring instructional and administrative technology improvements; \niv) Acquiring land for future schools and athletic facilities; \nv) Adding to, renovating, replacing, repairing, improving and equipping existing school buildings, athletic facilities, and other buildings and facilities useful or desirable in connection therewith; and \nvi) Acquiring any necessary property therefor, both real and personal. Subtotal SPLOST VI Projects \nTotal \n \nORIGINAL ESTIMATED \nCOST (1) \n \nCURRENT ESTIMATED COSTS (2) \n \n$ \n \n2,000,000.00 $ \n \n2,000,000.00 \n \nESTIMATED COMPLETION \nDATE \n12/31/2024 \n \n1,000,000.00 \n \n11,974,613.38 \n \n12/31/2024 \n \n500,000.00 500,000.00 500,000.00 250,000.00 250,000.00 5,000,000.00 \n \n500,000.00 500,000.00 500,000.00 250,000.00 250,000.00 15,974,613.38 \n \n12/31/2024 12/31/2024 12/31/2024 12/31/2024 12/31/2024 \n \n1,000,000.00 500,000.00 400,000.00 \n1,000,000.00 \n \n1,000,000.00 500,000.00 400,000.00 \n1,000,000.00 \n \n12/31/2028 12/31/2028 12/31/2028 12/31/2028 \n \n1,500,000.00 \n \n1,500,000.00 \n \n300,000.00 4,700,000.00 \n \n300,000.00 4,700,000.00 \n \n$ \n \n9,700,000.00 $ \n \n20,674,613.38 \n \n12/31/2028 12/31/2028 \n \n- 40 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \nYEAR ENDED JUNE 30, 2024 \n \nSCHEDULE \"10\" \n \nPROJECT SPLOST V \ni) To repay previously incurred debt on the issuance or sale of obligation bonds; \nii) Adding to, renovating, repairing, improving, and equipping existing school buildings and other buildings and facilities; \niii) Acquiring technology improvements for existing schools, including safety and security improvements, computer technology, hardware and software; \niv) Acquiring school buses, maintenance vehicles and equipment; \nv) Acquiring any necessary property therefore, both real and personal; \nvi) Acquire band instruments, textbooks and instructional materials; and \nvii) To pay expenses incident to accomplishing the foregoing. Subtotal SPLOST V Projects \nSPLOST VI i) Acquiring, constructing, and installing new athletic facilities and a new broadband network; \nii) Acquiring school buses and related transportation; equipment; \niii) Acquiring instructional and administrative technology improvements; \niv) Acquiring land for future schools and athletic facilities; \nv) Adding to, renovating, replacing, repairing, improving and equipping existing school buildings, athletic facilities, and other buildings and facilities useful or desirable in connection therewith; and \nvi) Acquiring any necessary property therefor, both real and personal. Subtotal SPLOST VI Projects \nTotal \n \nAMOUNT EXPENDED IN CURRENT YEAR (3) (4) \n \nAMOUNT EXPENDED IN PRIOR YEARS (3) (4) \n \nTOTAL COMPLETION \nCOST \n \nEXCESS PROCEEDS NOT \nEXPENDED \n \n$ \n \n- $ \n \n977,436.12 $ \n \n- $ \n \n- \n \n2,428,391.02 \n \n8,948,257.15 \n \n- \n \n- \n \n193,658.00 \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n20,809.50 \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n10,741.50 \n \n- \n \n- \n \n- \n \n2,632,790.52 \n \n9,946,502.77 \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n$ \n \n2,632,790.52 $ \n \n9,946,502.77 $ \n \n- $ \n \n- \n \nSee notes to the basic financial statements. \n \n- 41 - \n \n Section II Compliance and Internal Control Reports \n \n Greg S. Griffin State Auditor \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 \nThe Honorable Brian P. Kemp, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the State Board of Education \nand Mr. Gene Culpepper, Superintendent and Members of the Lanier County Board of Education \nWe have audited the financial statements of the governmental activities and each major fund of the Lanier County Board of Education (School District) as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise the School District's basic financial statements, and have issued our report thereon dated January 31, 2025. We conducted our audit in accordance with the auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. \nReport on Internal Control Over Financial Reporting \nIn planning and performing our audit of the financial statements, we considered the School District's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the basic financial statements, but not for the purpose of expressing an opinion on the effectiveness of the School District's internal control. Accordingly, we do not express an opinion on the effectiveness of the School District'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 School District'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 was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified. \n270 Washington Street, SW, Suite 4-101 Atlanta, Georgia 30334 | Phone (404) 656-2180 \n \n Report on Compliance and Other Matters \nAs part of obtaining reasonable assurance about whether the School District'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 financial statements. 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. \nPurpose of this Report \nThe 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 School District'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 School District's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. \nRespectfully submitted, \nGreg S. Griffin State Auditor \nJanuary 31, 2025 \n \n Greg S. Griffin State Auditor \nINDEPENDENT AUDITOR'S REPORT ON COMPLIANCE FOR EACH MAJOR FEDERAL PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE \nThe Honorable Brian P. Kemp, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the State Board of Education \nand Mr. Gene Culpepper, Superintendent and Members of the Lanier County Board of Education \nReport on Compliance for Each Major Federal Program \nOpinion on Each Major Federal Program \nWe have audited the Lanier County Board of Education's (School District) compliance with the types of compliance requirements identified as subject to audit in the OMB Compliance Supplement that could have a direct and material effect on each of the School District's major federal programs for the year ended June 30, 2024. The School District's major federal programs are identified in the Summary of Auditor's Results section of the accompanying Schedule of Findings and Questioned Costs. \nIn our opinion, the School District 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, 2024. \nBasis for Opinion on Each Major Federal Program \nWe conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America (GAAS); 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Our responsibilities under those standards and the Uniform Guidance are further described in the Auditor's Responsibilities for the Audit of Compliance section of our report. \nWe are required to be independent of the School District and to meet our other ethical responsibilities, in accordance with relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each major federal program. Our audit does not provide a legal determination of the School District's compliance with the compliance requirements referred to above. \n270 Washington Street, SW, Suite 4-101 Atlanta, Georgia 30334 | Phone (404) 656-2180 \n \n Responsibilities of Management for Compliance \nManagement is responsible for compliance with the requirements referred to above and for the design, implementation, and maintenance of effective internal control over compliance with the requirements of laws, statutes, regulations, rules and provisions of contracts or grant agreements applicable to the School District's federal programs. \nAuditor's Responsibilities for the Audit of Compliance \nOur objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion on the School District's compliance based on our audit. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Noncompliance with the compliance requirements referred to above is considered material, if there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about the School District's compliance with the requirements of each major federal program as a whole. \nIn performing an audit in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance, we: \n Exercise professional judgment and maintain professional skepticism throughout the audit. \n Identify and assess the risks of material noncompliance, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the School District's compliance with the compliance requirements referred to above and performing such other procedures as we considered necessary in the circumstances. \n Obtain an understanding of the School District's internal control over compliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances 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 the School District's internal control over compliance. Accordingly, no such opinion is expressed. \nWe are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over compliance that we identified during the audit. \nReport on 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 a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance \n \n 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 Auditor's Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified. \nOur audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed. \nThe 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. \nRespectfully submitted, \nGreg S. Griffin State Auditor \nJanuary 31, 2025 \n \n Section III Auditee's Response to Prior Year Findings and Questioned Costs \n \n LANIER COUNTY BOARD OF EDUCATION AUDITEE'S RESPONSE \nSUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS YEAR ENDED JUNE 30, 2024 \nPRIOR YEAR FINANCIAL STATEMENT FINDINGS \nNo matters were reported. \nPRIOR YEAR FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \nNo matters were reported. \n \n Section IV Findings and Questioned Costs \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS \nYEAR ENDED JUNE 30, 2024 \n \nI SUMMARY OF AUDITOR'S RESULTS \n \nFinancial Statements \n \nType of auditor's report issued: Governmental Activities and Each Major Fund \n \nInternal control over financial reporting:  Material weakness(es) identified? \n Significant deficiency(ies) identified? \n \nNoncompliance material to financial statements noted: \n \nFederal Awards \n \nInternal control over major programs:  Material weakness(es) identified? \n Significant deficiency(ies) identified? \n \nType of auditor's report issued on compliance for major programs: \n \nAll major programs \n \nAny audit findings disclosed that are required to be reported in accordance with 2 CFR 200.516(a)? \n \nIdentification of major programs: \n \nAssistance Listing Number Assistance Listing Program or Cluster Title \n \n10.553, 10.555 \n \nChild Nutrition Cluster \n \nDollar threshold used to distinguish between Type A and Type B programs: \n \nAuditee qualified as low-risk auditee? \n \nII FINANCIAL STATEMENT FINDINGS No matters were reported. lll FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported. \n \nUnmodified No \nNone Reported No \nNo None Reported \nUnmodified No \n$750,000.00 Yes \n \n "},{"id":"dlg_ggpd_1378070965-2024-03-15","title":"Annual financial report, 2023 June 30, Lanier County Board of Education, Lakeland, Georgia, including independent auditor's report.","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Lanier County, 31.03789, -83.06265"],"dcterms_creator":null,"dc_date":["2024-03-15"],"dcterms_description":["Began with: Fiscal year 2021.","Report year covers fiscal year.","May have supplement: Salaries and travel reimbursement (Lanier County Board of Education, Ga.)"],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Georgia : Georgia Department of Audits \u0026 Accounts, [2022?]-"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Lanier County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Lanier County--Auditing--Periodicals.","Education--Georgia--Lanier County--Finance--Statistics--Periodicals.","Education--Auditing","Education--Finance","Expenditures, Public","Georgia--Lanier County.--fast--(OCoLC)fst01217795","Georgia Government Documents--Serial"],"dcterms_title":["Annual financial report, 2023 June 30, Lanier County Board of Education, Lakeland, Georgia, including independent auditor's report."],"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_1378070965-2024-03-15"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_1378070965-2024-03-15"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"ANNUAL FINANCIAL REPORT  FISCAL YEAR 2023 \nLanier County Board of Education \nLakeland, Georgia \nIncluding Independent Auditor's Report \nGreg S. Griffin | State Auditor \n \n Lanier County Board of Education \n \nTable of Contents \n \nSection I Financial \nIndependent Auditor's Report \n \nExhibits \n \nBasic Financial Statements \n \nGovernment-Wide Financial Statements \n \nA \n \nStatement of Net Position \n \n1 \n \nB \n \nStatement of Activities \n \n2 \n \nFund Financial Statements \n \nC \n \nBalance Sheet \n \nGovernmental Funds \n \n3 \n \nD \n \nReconciliation of the Governmental Funds Balance Sheet \n \nto the Statement of Net Position \n \n4 \n \nE \n \nStatement of Revenues, Expenditures and Changes in Fund Balances \n \nGovernmental Funds \n \n5 \n \nF \n \nReconciliation of the Governmental Funds Statement of \n \nRevenues, Expenditures and Changes in Fund Balances \n \nto the Statement of Activities \n \n6 \n \nG Notes to the Basic Financial Statements \n \n8 \n \nSchedules \n \nRequired Supplementary Information \n \n1 Schedule of Proportionate Share of the Net Pension Liability \n \nTeachers Retirement System of Georgia \n \n31 \n \n2 Schedule of Contributions  Teachers Retirement System of Georgia \n \n32 \n \n3 Schedule of Proportionate Share of the Net Pension Liability \n \nPublic School Employees Retirement System of Georgia \n \n33 \n \n4 Schedule of Proportionate Share of the Net OPEB Liability \n \nSchool OPEB Fund \n \n34 \n \n5 Schedule of Contributions  School OPEB Fund \n \n35 \n \n6 Notes to the Required Supplementary Information \n \n36 \n \n7 Schedule of Revenues, Expenditures and Changes in Fund \n \nBalances - Budget and Actual General Fund \n \n37 \n \n Supplementary Information \n \n8 Schedule of Expenditures of Federal Awards \n \n38 \n \n9 Schedule of State Revenue \n \n40 \n \n10 Schedule of Approved Local Option Sales Tax Projects \n \n42 \n \nSection II \nCompliance and Internal Control Reports \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 Federal Program and on Internal Control Over Compliance Required by the Uniform Guidance \n \nSection III Auditee's Response to Prior Year Findings and Questioned Costs Summary Schedule of Prior Audit Findings \n \nSection IV Findings and Questioned Costs Schedule of Findings and Questioned Costs \n \n Section I Financial \n \n Greg S. Griffin State Auditor \nINDEPENDENT AUDITOR'S REPORT \nThe Honorable Brian P. Kemp, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the State Board of Education \nand Mr. Gene Culpepper, Superintendent and Members of the Lanier County Board of Education \nReport on the Audit of the Financial Statements \nOpinions \nWe have audited the accompanying financial statements of the governmental activities and each major fund of the Lanier County Board of Education (School District) as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the School District's basic financial statements as listed in the table of contents. \nIn our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the School District as of June 30, 2023, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. \nBasis for Opinions \nWe conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. \nWe are required to be independent of the School District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. \nResponsibilities of Management for the Financial Statements \nManagement is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for 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. \n270 Washington Street, SW, Suite 4-101 Atlanta, Georgia 30334 | Phone (404) 656-2180 \n \n In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the School District's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. \nAuditor's Responsibilities for the Audit of the Financial Statements \nOur objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. \nIn performing an audit in accordance with GAAS and Government Auditing Standards, we: \n Exercise professional judgment and maintain professional skepticism throughout the audit. \n Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. \n Obtain an understanding of internal control relevant to the audit 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 School District's internal control. Accordingly, no such opinion is expressed. \n Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. \n Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the School District's ability to continue as a going concern for a reasonable period of time. \nWe are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit. \nRequired Supplementary Information \nManagement has omitted the Management's Discussion and Analysis that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing 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 \n \n financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinions on the basic financial statements are not affected by this missing information. \nAccounting principles generally accepted in the United States of America require that the required supplementary information listed in the table of contents be presented to supplement the basic financial statements. Such information is the responsibility of management and, 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 GAAS, 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 appropriate evidence to express an opinion or provide any assurance. \nSupplementary Information \nOur audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the School District's basic financial statements. The accompanying supplementary information, as listed in the table of contents, is presented for the purposes of additional analysis and is not a required part of the basic financial statements. The Schedule of Expenditures of Federal Awards is presented for purposes of additional analysis as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is also not a required part of the basic financial statements. \nThe supplementary information is the responsibility of management and was derived from and relates 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 basic financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the information is fairly stated, in all material respects, in relation to the basic financial statements as a whole. \nOther Reporting Required by Government Auditing Standards \nIn accordance with Government Auditing Standards, we have also issued our report dated March 15, 2024 on our consideration of the School District'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 School District'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 the School District's internal control over financial reporting and compliance. \n \n A copy of this report has been filed as a permanent record and made available to the press of the State, as provided for by Official Code of Georgia Annotated section 50-6-24. Respectfully submitted, \nGreg S. Griffin State Auditor \nMarch 15, 2024 \n \n Lanier County Board of Education \n \n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF NET POSITION JUNE 30, 2023 \nASSETS Cash and Cash Equivalents Accounts Receivable, Net \nTaxes State Government Federal Government Inventories Prepaid Items Capital Assets, Non-Depreciable Capital Assets, Depreciable (Net of Accumulated Depreciation) \nTotal Assets \nDEFERRED OUTFLOWS OF RESOURCES Related to Defined Benefit Pension Plan Related to OPEB Plan \nTotal Deferred Outflows of Resources \nLIABILITIES Salaries and Benefits Payable Contract Payable Retainage Payable Net Pension Liability Net OPEB Liability \nTotal Liabilities \nDEFERRED INFLOWS OF RESOURCES Related to Defined Benefit Pension Plan Related to OPEB Plan \nTotal Deferred Inflows of Resources \nNET POSITION Net Investment in Capital Assets Restricted for \nContinuation of Federal Programs Capital Projects Unrestricted (Deficit) \nTotal Net Position \n \nEXHIBIT \"A\" \n \nGOVERNMENTAL ACTIVITIES \n \n$ \n \n5,627,496.62 \n \n332,060.47 1,566,658.84 1,314,242.07 \n24,826.36 240,000.00 12,919,810.06 19,616,911.39 41,642,005.81 \n \n11,025,324.00 2,602,143.00 \n13,627,467.00 \n \n2,230,520.88 402,467.55 195,497.66 \n23,059,294.00 10,100,453.00 35,988,233.09 \n \n875,833.00 6,471,848.00 7,347,681.00 \n \n31,938,756.24 \n \n647,847.24 1,363,768.76 (22,016,813.52) \n \n$ \n \n11,933,558.72 \n \nThe notes to the basic financial statements are an integral part of this statement. \n \n- 1 - \n \n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF ACTIVITIES \nFOR THE YEAR ENDED JUNE 30, 2023 \n \nEXHIBIT \"B\" \n \nEXPENSES \n \nCHARGES FOR SERVICES \n \nPROGRAM REVENUES OPERATING GRANTS AND \nCONTRIBUTIONS \n \nCAPITAL GRANTS AND CONTRIBUTIONS \n \nNET (EXPENSES) REVENUES \nAND CHANGES IN NET POSITION \n \nGOVERNMENTAL ACTIVITIES \n \nInstruction \n \n$ \n \nSupport Services \n \nPupil Services \n \nImprovement of Instructional Services \n \nEducational Media Services \n \nGeneral Administration \n \nSchool Administration \n \nBusiness Administration \n \nMaintenance and Operation of Plant \n \nStudent Transportation Services \n \nCentral Support Services \n \nOther Support Services \n \nOperations of Non-Instructional Services \n \nEnterprise Operations \n \nFood Services \n \n13,627,216.96 $ \n1,389,390.37 1,001,102.63 \n261,687.14 490,725.05 1,281,292.14 265,186.04 2,308,626.42 1,109,348.95 \n16,091.19 169,180.82 \n1,532.56 1,512,045.86 \n \n87,455.96 $ \n- \n33,732.65 \n \n13,782,195.10 $ \n195,719.38 1,490,209.92 \n228,898.71 509,942.36 615,901.97 \n1,605.37 554,226.67 219,507.69 \n84.81 2,658.96 \n8.08 1,445,664.24 \n \n- $ \n264,330.00 - \n- \n \n242,434.10 \n(1,193,670.99) 489,107.29 (32,788.43) 19,217.31 (665,390.17) (263,580.67) \n(1,754,399.75) (625,511.26) (16,006.38) (166,521.86) \n(1,524.48) (32,648.97) \n \nTotal Governmental Activities \n \n$ \n \n23,433,426.13 $ \n \n121,188.61 $ \n \n19,046,623.26 $ \n \n264,330.00 \n \n(4,001,284.26) \n \nGeneral Revenues Taxes Property Taxes For Maintenance and Operations Railroad Cars Sales Taxes Special Purpose Local Option Sales Tax For Capital Projects Other Sales Tax Grants and Contributions not Restricted to Specific Programs Investment Earnings Miscellaneous Total General Revenues \n \n3,693,324.40 7,479.30 \n854,270.51 99,368.34 \n3,759,830.00 38,699.70 \n785,543.81 9,238,516.06 \n \nChange in Net Position \n \n5,237,231.80 \n \nNet Position - Beginning of Year \n \n6,696,326.92 \n \nNet Position - End of Year \n \n$ \n \n11,933,558.72 \n \nThe notes to the basic financial statements are an integral part of this statement. \n \n- 2 - \n \n ASSETS Cash and Cash Equivalents Accounts Receivable, Net \nTaxes State Government Federal Government Inventories Prepaid Items \nTotal Assets \nLIABILITIES Salaries and Benefits Payable Contracts Payable Retainage Payable \nTotal Liabilities \nDEFERRED INFLOWS OF RESOURCES Unavailable Revenue - Property Taxes \nFUND BALANCES Nonspendable Restricted Assigned Unassigned \nTotal Fund Balances \nTotal Liabilities, Deferred Inflows of Resources, and Fund Balances \n \nLANIER COUNTY BOARD OF EDUCATION BALANCE SHEET \nGOVERNMENTAL FUNDS JUNE 30, 2023 \nGENERAL FUND \n \nCAPITAL PROJECTS \nFUND \n \nEXHIBIT \"C\" TOTAL \n \n$ \n \n4,334,072.78 $ \n \n1,293,423.84 $ \n \n5,627,496.62 \n \n261,715.55 1,566,658.84 1,314,242.07 \n24,826.36 240,000.00 \n \n70,344.92 - \n \n332,060.47 1,566,658.84 1,314,242.07 \n24,826.36 240,000.00 \n \n$ \n \n7,741,515.60 $ \n \n1,363,768.76 $ \n \n9,105,284.36 \n \n$ \n \n2,230,520.88 $ \n \n- \n \n- \n \n2,230,520.88 \n \n- $ 402,467.55 195,497.66 597,965.21 \n \n2,230,520.88 402,467.55 195,497.66 \n2,828,486.09 \n \n66,055.14 \n \n- \n \n66,055.14 \n \n264,826.36 623,020.88 325,870.97 4,231,221.37 5,444,939.58 \n \n765,803.55 \n765,803.55 \n \n264,826.36 1,388,824.43 \n325,870.97 4,231,221.37 6,210,743.13 \n \n$ \n \n7,741,515.60 $ \n \n1,363,768.76 $ \n \n9,105,284.36 \n \nThe notes to the basic financial statements are an integral part of this statement. \n \n- 3 - \n \n LANIER COUNTY BOARD OF EDUCATION RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET \nTO THE STATEMENT OF NET POSITION JUNE 30, 2023 \n \nEXHIBIT \"D\" \n \nTotal fund balances - governmental funds (Exhibit \"C\") \nAmounts reported for governmental activities in the Statement of Net Position are different because: \nCapital assets used in governmental activities are not financial resources and therefore are not reported in the funds. Land Construction in progress Buildings and improvements Equipment Land improvements Accumulated depreciation expense \nSome liabilities are not due and payable in the current period and, therefore, are not reported in the funds. Net pension liability Net OPEB liability \nDeferred outflows and inflows of resources related to pensions/OPEB are applicable to future periods and, therefore, are not reported in the funds. Related to pensions Related to OPEB \nTaxes that are not available to pay for current period expenditures are deferred in the funds. \nNet position of governmental activities (Exhibit \"A\") \n \n$ \n \n6,210,743.13 \n \n$ \n \n1,530,086.63 \n \n11,389,723.43 \n \n26,453,247.65 \n \n3,293,461.05 \n \n1,307,247.31 \n \n(11,437,044.62) \n \n32,536,721.45 \n \n$ \n \n(23,059,294.00) \n \n(10,100,453.00) \n \n(33,159,747.00) \n \n$ \n \n10,149,491.00 \n \n(3,869,705.00) \n \n6,279,786.00 \n \n66,055.14 \n \n$ \n \n11,933,558.72 \n \nThe notes to the basic financial statements are an integral part of this statement. \n \n- 4 - \n \n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \nGOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2023 \n \nEXHIBIT \"E\" \n \nREVENUES Property Taxes Sales Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous Total Revenues \nEXPENDITURES Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Enterprise Operations Food Services Operation Capital Outlay Total Expenditures \nRevenues over (under) Expenditures \nOTHER FINANCING SOURCES (USES) Transfers In Transfers Out Total Other Financing Sources (Uses) \nNet Change in Fund Balances \nFund Balances - Beginning \nFund Balances - Ending \n \nGENERAL FUND \n \nCAPITAL PROJECTS \nFUND \n \nTOTAL \n \n$ \n \n3,737,172.58 $ \n \n99,368.34 \n \n15,993,851.01 \n \n6,999,665.33 \n \n121,188.61 \n \n30,527.82 \n \n785,543.81 \n \n27,767,317.50 \n \n- $ 854,270.51 \n8,171.88 862,442.39 \n \n3,737,172.58 953,638.85 \n15,993,851.01 6,999,665.33 121,188.61 38,699.70 785,543.81 \n28,629,759.89 \n \n13,171,032.51 \n1,340,830.54 978,036.78 262,031.05 479,530.15 \n1,222,235.23 260,891.19 \n2,125,821.23 1,447,870.60 \n16,091.19 169,180.82 \n1,532.56 1,541,083.27 2,347,962.09 25,364,129.21 2,403,188.29 \n \n- \n159,250.00 5,788,430.44 5,947,680.44 (5,085,238.05) \n \n13,171,032.51 \n1,340,830.54 978,036.78 262,031.05 479,530.15 \n1,222,235.23 260,891.19 \n2,285,071.23 1,447,870.60 \n16,091.19 169,180.82 \n1,532.56 1,541,083.27 8,136,392.53 31,311,809.65 (2,682,049.76) \n \n(2,500,000.00) (2,500,000.00) \n \n2,500,000.00 - \n2,500,000.00 \n \n2,500,000.00 (2,500,000.00) \n- \n \n(96,811.71) \n \n(2,585,238.05) \n \n(2,682,049.76) \n \n5,541,751.29 \n \n3,351,041.60 \n \n8,892,792.89 \n \n$ \n \n5,444,939.58 $ \n \n765,803.55 $ \n \n6,210,743.13 \n \nThe notes to the basic financial statements are an integral part of this statement. \n \n- 5 - \n \n LANIER COUNTY BOARD OF EDUCATION RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF \nREVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES JUNE 30, 2023 \n \nEXHIBIT \"F\" \n \nNet change in fund balances total governmental funds (Exhibit \"E\") \nAmounts reported for governmental activities in the Statement of Activities are different because: \nGovernmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of capital assets is allocated over their estimated useful lives as depreciation expense. Capital outlay Depreciation expense \nTaxes reported in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds. \nDistrict pension/OPEB contributions are reported as expenditures in the governmental funds when made. However, they are reported as deferred outflows of resources in the Statement of Net Position because the reported net pension/OPEB liability is measured a year before the District's report date. Pension/OPEB expense, which is the change in the net pension/OPEB liability adjusted for changes in deferred outflows and inflows of resources related to pensions/OPEB, is reported in the Statement of Activities. Pension expense OPEB expense \nChange in net position of governmental activities (Exhibit \"B\") \n \n$ \n \n(2,682,049.76) \n \n$ \n \n8,695,661.69 \n \n(671,720.25) \n \n8,023,941.44 (36,368.88) \n \n$ \n \n(1,030,176.00) \n \n961,885.00 \n \n(68,291.00) \n \n$ \n \n5,237,231.80 \n \nThe notes to the basic financial statements are an integral part of this statement. \n \n- 6 - \n \n (This page left intentionally blank) \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nNOTE 1: DESCRIPTION OF SCHOOL DISTRICT AND REPORTING ENTITY \nReporting Entity \nThe Lanier County Board of Education (School District) was established under the laws of the State of Georgia and operates under the guidance of a board elected by the voters and a Superintendent appointed by the Board. The School District is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the School District is a primary government and consists of all the organizations that compose its legal entity. \nNOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nThe accompanying financial statements of the School District have been prepared in conformity with generally accepted accounting principles (GAAP) as prescribed by the Governmental Accounting Standards Board (GASB). GASB is the accepted standard-setting body for governmental accounting and financial reporting principles. The most significant of the School District's accounting policies are described below. \nBasis of Presentation \nThe School District's basic financial statements are collectively comprised of the government-wide financial statements, fund financial statements and notes to the basic financial statements. The government-wide statements focus on the School District as a whole, while the fund financial statements focus on major funds. Each presentation provides valuable information that can be analyzed and compared between years and between governments to enhance the information's usefulness. \nGovernment-Wide Statements: \nThe Statement of Net Position and the Statement of Activities display information about the financial activities of the overall School District. Eliminations have been made to minimize the double counting of internal activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange transactions. \nThe Statement of Net Position presents the School District's assets, deferred outflows of resources, deferred inflows of resources and liabilities, with the difference reported as net position. Net position is reported in three categories as follows: \n1. Net investment in capital assets consists of the School District's total investment in capital assets, net of accumulated depreciation, and reduced by outstanding debt obligations related to those capital assets. To the extent debt has been incurred but not yet expended for capital assets, such amounts are not included as a component of net investment in capital assets. \n2. Restricted net position consists of resources for which the School District is legally or contractually obligated to spend in accordance with restrictions imposed by external third parties or imposed by law through constitutional provisions or enabling legislation. \n3. Unrestricted net position consists of resources not meeting the definition of the two preceding categories. Unrestricted net position often has constraints on resources imposed by management which can be removed or modified. \nThe Statement of Activities presents a comparison between direct expenses and program revenues for each function of the School District's governmental activities. \n- 8 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nDirect expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Indirect expenses (expenses of the School District related to the administration and support of the School District's programs, such as office and maintenance personnel and accounting) are not allocated to programs. \nProgram revenues include (a) charges paid by the recipients of goods or services offered by the programs and (b) grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues. \nFund Financial Statements \nThe fund financial statements provide information about the School District's funds. Eliminations have been made to minimize the double counting of internal activities. The emphasis of fund financial statements is on major governmental funds, each displayed in a separate column. \nThe School District reports the following major governmental funds: \n The general fund is the School District's primary operating fund. It accounts for and reports all financial resources not accounted for and reported in another fund. \n The capital projects fund accounts for and reports financial resources including Education Special Purpose Local Option Sales Tax (ESPLOST) that are restricted, committed or assigned for capital outlay expenditures, including the acquisition or construction of capital facilities and other capital assets. \nBasis of Accounting \nThe basis of accounting determines when transactions are reported on the financial statements. The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place. Nonexchange transactions, in which the School District gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, sales taxes, grants and donations. On an accrual basis, revenue from property taxes is recognized in the fiscal year for which the taxes are levied. Revenue from sales taxes is recognized in the fiscal year in which the underlying transaction (sale) takes place. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. \nThe School District uses funds to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. \nGovernmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available. The School District considers certain revenues reported in the governmental funds to be available if they are collected within 60 days after year-end. The School District considers all intergovernmental revenues to be available if they are collected within 120 days after year-end. Property taxes, sales taxes and interest are considered to be susceptible to accrual. Expenditures are recorded \n \n- 9 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nwhen the related fund liability is incurred, except for principal and interest on general long-term debt, which are recognized as expenditures to the extent they have matured. Capital asset acquisitions are reported as expenditures in governmental funds. \nThe School District funds certain programs by a combination of specific cost-reimbursement grants, categorical grants, and general revenues. Thus, when program costs are incurred, there are both restricted and unrestricted resources available to finance the program. It is the School District's policy to first apply grant resources to such programs, followed by cost-reimbursed grants, then general revenues. \nNew Accounting Pronouncements \nIn fiscal year 2023, the School District adopted Governmental Accounting Standards Board (GASB) Statement No. 96, Subscription-Based Information Technology Arrangements. This statement defines subscription-based information technology arrangements and provides uniform guidance for accounting and financial reporting for transactions that meet that definition. Under this statement, a government is required to recognize a subscription liability and an intangible right-to-use asset for contracts that meet the definition of a subscription-based information technology arrangement. The adoption of this statement did not have a material impact on the School District's financial statements. \nCash and Cash Equivalents \nCash and cash equivalents consist of cash on hand, demand deposits, investments in the State of Georgia local government investment pool (Georgia Fund 1) and short-term investments with original maturities of three months or less from the date of acquisition in authorized financial institutions. Official Code of Georgia Annotated (O.C.G.A.) 45-8-14 authorizes the School District to deposit its funds in one or more solvent banks, insured Federal savings and loan associations or insured chartered building and loan associations. \nReceivables \nReceivables consist of amounts due from property and sales taxes, grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the basic financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \nInventories \nFood Inventories \nOn the basic financial statements, inventories of donated food commodities used in the preparation of meals are reported at their Federally assigned value and purchased foods inventories are reported at cost (calculated on the first-in, first-out basis). The School District uses the consumption method to account for inventories whereby donated food commodities are recorded as an asset and as revenue when received, and expenses/expenditures are recorded as the inventory items are used. Purchased foods are recorded as an asset when purchased and expenses/expenditures are recorded as the inventory items are used. \n \n- 10 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nPrepaid Items \n \nPayments made to vendors for services that will benefit future accounting periods are recorded as prepaid items, in both the government-wide and governmental fund financial statements. \n \nCapital Assets \n \nOn the government-wide financial statements, capital assets are recorded at cost where historical records are available and at estimated historical cost based on appraisals or deflated current replacement cost where no historical records exist. Donated capital assets are recorded at the acquisition value on the date donated. The cost of normal maintenance and repairs that do not add to the value of assets or materially extend the useful lives of the assets is not capitalized. The School District does not capitalize book collections or works of art. \n \nCapital acquisition and construction are recorded as expenditures in the governmental fund financial statements at the time of purchase (including ancillary charges), and the related assets are reported as capital assets in the governmental activities column in the government-wide financial statements. \nDepreciation is computed using the straight-line for all assets, except land, and is used to allocate the actual or estimated historical cost of capital assets over estimated useful lives. \n \nCapitalization thresholds and estimated useful lives of capital assets reported in the government-wide statements are as follows: \n \nCapitalization Policy \n \nEstimated Useful Life \n \nLand Land Improvements Buildings and Equipment Intangible Assets \n \nAny Amount \n \n$ \n \n100,000.00 \n \n$ \n \n100,000.00 \n \n$ \n \n25,000.00 \n \n$ \n \n100,000.00 \n \nN/A 15 years \n25 to 60 years 5 to 25 years \n10 to 20 years \n \nDeferred Outflows/Inflows of Resources \nIn addition to assets, the statement of financial position 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 (expense/expenditure) until then. \nIn addition to liabilities, the statement of financial position 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 (revenue) until that time. \n \nPensions \nFor 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 pension plan's fiduciary net position and additions to/deductions from the plan's fiduciary net position have been determined \n \n- 11 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \non the same basis as they are reported by the plan. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. \nPost-Employment Benefits Other Than Pensions (OPEB) \nFor purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the Georgia School Employees Post-Employment Benefit Fund (School OPEB Fund) and additions to/deductions from School OPEB Fund fiduciary net position have been determined on the same basis as they are reported by School OPEB Fund. For this purpose, benefit payments are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. \nFund Balances \nFund balance for governmental funds is reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. \nThe School District's fund balances are classified as follows: \nNonspendable consists of resources that cannot be spent either because they are in a nonspendable form or because they are legally or contractually required to be maintained intact. \nRestricted consists of resources that can be used only for specific purposes pursuant constraints either (1) externally imposed by creditors, grantors, contributors, or laws and regulations of other governments or (2) imposed by law through constitutional provisions or enabling legislation. \nCommitted consists of resources that can be used only for specific purposes pursuant to constraints imposed by formal action of the Board. The Board is the School District's highest level of decisionmaking 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. Committed fund balance also should incorporate contractual obligations to the extent that existing resources in the fund have been specifically committed for use in satisfying those contractual requirements. \nAssigned consists of resources constrained by the School District's intent to be used for specific purposes but are neither restricted nor committed. The intent should be expressed by (1) the Board or (2) the budget or finance committee, or the Superintendent, or designee, to assign amounts to be used for specific purposes. \nUnassigned 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. \nUse of Estimates \nThe preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates. \n \n- 12 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nProperty Taxes \n \nThe Lanier County Board of Commissioners adopted the property tax levy for the 2022 tax digest year (calendar year) on September 20, 2022 (levy date) based on property values as of January 1, 2022. Taxes were due on February 3, 2023 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2022 tax digest are reported as revenue in the governmental funds for fiscal year 2023. The Lanier County Tax Commissioner bills and collects the property taxes for the School District, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the School District. Property tax revenues, at the fund reporting level, during the fiscal year ended June 30, 2023, for maintenance and operations amounted to $3,194,257.81. \nThe tax millage rate levied for the 2022 tax digest year (calendar year) for the School District was as follows (a mill equals $1 per thousand dollars of assessed value): \n \nSchool Operations \n \n16.383 mills \n \nAdditionally, Title Ad Valorem Tax revenues, at the fund reporting level, amounted to $535,435.47 during fiscal year ended June 30, 2023. \nSales Taxes \nEducation Special Purpose Local Option Sales Tax (ESPLOST), at the fund reporting level, during the year amounted to $854,270.51 and is to be used for capital outlay for educational purposes or debt service. This sales tax was authorized by local referendum and the sales tax must be re-authorized at least every five years. \nNOTE 3: BUDGETARY DATA \nThe budget is a complete financial plan for the School District's fiscal year and is based upon careful estimates of expenditures together with probable funding sources. The budget is legally adopted each year for the general fund. There is no statutory prohibition regarding over expenditure of the budget at any level. The budget for all governmental funds except the various school activity (principal) accounts, is prepared and adopted by fund and function. The legal level of budgetary control was established by the Board at the aggregate fund level. The budget for the general fund was prepared in accordance with accounting principles generally accepted in the United States of America. \nThe budgetary process begins with the School District's administration presenting an initial budget for the Board's review. The administration makes revisions as necessary based on the Board's guidelines, and a tentative budget is approved. 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, as well as the School District's website. At the next regularly scheduled meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final budget. The approved budget is then submitted, in accordance with provisions of O.C.G.A. 20-2-167(c), to the Georgia Department of Education. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. \nSee the General Fund Schedule of Revenues, Expenditures and Changes in Fund Balances  Budget to Actual in the Supplementary Information Section for a detail of any over/under expenditures during the fiscal year under review. \n \n- 13 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nNOTE 4: DEPOSITS \nCollateralization of Deposits \nO.C.G.A. 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value of securities pledged shall be equal to not less than 110% of the public funds being secured after the deduction of the amount of deposit insurance. If a depository elects the pooled method (O.C.G.A. 45-8-13.1) the aggregate of the market value of the securities pledged to secure a pool of public funds shall be not less than 110% of the daily pool balance. \nAcceptable security for deposits consists of any one of or any combination of the following: \n(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \n(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, \n(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia, \n(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and \n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by or securities guaranteed by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \nCategorization of Deposits \nCustodial credit risk is the risk that in the event of a bank failure, the School District's deposits may not be returned to it. The School District does not have a deposit policy for custodial credit risk. At June 30, 2023, the School District had deposits with a carrying amount of $5,627,496.62, and a bank balance of $8,044,436.45. The bank balances insured by Federal depository insurance were $250,000.00 and the bank balances collateralized with securities held by the pledging financial institution's trust department or agent in the School District's name were $7,794,436.45. \n \n- 14 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nNOTE 5: CAPITAL ASSETS \n \nThe following is a summary of changes in the capital assets for governmental activities during the fiscal year: \n \nGovernmental Activities Capital Assets, \nNot Being Depreciated: Land Construction in Progress \n \nBalances July, 1 2022 \n \nIncreases \n \nDecreases \n \nBalances June 30, 2023 \n \n$ 1,509,277.13 $ \n \n20,809.50 $ \n \n3,630,531.31 \n \n7,759,192.12 \n \n- $ - \n \n1,530,086.63 11,389,723.43 \n \nTotal Capital Assets Not Being Depreciated \n \n5,139,808.44 \n \n7,780,001.62 \n \n- \n \n12,919,810.06 \n \nCapital Assets, Being Depreciated: Buildings and Improvements Equipment Land Improvements \n \n26,453,247.65 2,734,191.88 950,856.41 \n \n559,269.17 356,390.90 \n \n- \n \n26,453,247.65 \n \n- \n \n3,293,461.05 \n \n- \n \n1,307,247.31 \n \nLess Accumulated Depreciation: Buildings and Improvements Equipment Land Improvements \n \n8,068,197.39 1,893,091.63 \n804,035.35 \n \n467,847.93 173,846.60 \n30,025.72 \n \n- \n \n8,536,045.32 \n \n- \n \n2,066,938.23 \n \n- \n \n834,061.07 \n \nTotal Capital Assets Being Depreciated, Net \n \n19,372,971.57 \n \n243,939.82 \n \n- \n \n19,616,911.39 \n \nGovernmental Activities Capital Assets - Net \n \n$ 24,512,780.01 $ 8,023,941.44 $ \n \n- $ 32,536,721.45 \n \nCurrent year depreciation expense by function is as follows: \n \nInstruction \n \nSupport Services \n \nPupil Services \n \n$ \n \nGeneral Administration \n \nSchool Administration \n \nMaintenance and Operation of Plant \n \nStudent Transportation Services \n \nFood Services \n \n$ \n17,718.88 8,849.86 \n41,275.55 31,980.65 141,377.80 \n \n398,084.09 \n241,202.74 32,433.42 \n \n$ 671,720.25 \n \n- 15 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nNOTE 6: INTERFUND TRANSFERS Interfund transfers for the year ended June 30, 2023, consisted of the following: \n \nTransfers to \n \nTransfers From General Fund \n \nCapital Projects Fund \n \n$ \n \n2,500,000.00 \n \nTransfers are used to move property tax revenues collected by the general fund to the capital projects fund as required match or as a supplemental funding source for capital construction projects. \nNOTE 7: LONG-TERM LIABILITIES \nOn May 24, 2022, the voters of Lanier County approved an ESPLOST that authorized the issuance of $8,500,000.00 in general obligation bonds. \nOf the total amount originally authorized, $8,500,000.00 was unissued as of June 30,2023. \nNOTE 8: RISK MANAGEMENT \nInsurance \nCommercial Insurance \nThe School District is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors or omissions; job related illness or injuries to employees; and natural disasters. Except as described below, the School District carries commercial insurance for these risks. Settled claims resulting from these insured risks have not exceed commercial insurance coverage in any of the past three fiscal years. \nWorkers' Compensation \nGeorgia Education Workers' Compensation Trust \nThe School District participates in the Georgia Education Workers' Compensation Trust (the Trust), a public entity risk pool organized on December 1, 1991, to develop, implement and administer a program of workers' compensation self-insurance for its member organizations. The School District pays an annual premium to the Trust for its general workers' compensation insurance coverage. Specific excess of loss insurance coverage is provided through an agreement by the Trust with the Safety National Casualty Company to provide coverage for potential losses sustained by the Trust in excess of $1.0 million loss per occurrence, up to the statutory limit. Employers' Liability insurance coverage is also provided with limits of $2.0 million. The Trust covers the first $1.0 million of each Employers Liability claim with Safety National providing additional Employers Liability limits up to a $2.0 million per occurrence maximum. Safety National Casualty Company also provides $2.0 million in aggregate coverage to the Trust, attaching at 107% of the loss fund and based on the Fund's annual normal premium. \n \n- 16 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nUnemployment Compensation \n \nThe School District is self-insured with regard to unemployment compensation claims. The School District accounts for claims within the general fund with expenses/expenditures and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. \nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \n \nBeginning of Year Liability \n \nClaims and Changes in \nEstimates \n \nClaims Paid \n \nEnd of Year Liability \n \n2022 $ \n \n- $ \n \n6,988.09 $ \n \n6,988.09 $ \n \n- \n \n2023 $ \n \n- $ \n \n- $ \n \n- $ \n \n- \n \nSurety Bond \n \nThe School District purchased surety bonds to provide additional insurance coverage as follows: \n \nPosition Covered \n \nAmount \n \nSuperintendent Principals Bookkeepers Nutrition Managers Nutrition Cashiers \n \n$ \n \n100,000.00 \n \n$ \n \n5,000.00 \n \n$ \n \n4,000.00 \n \n$ \n \n3,000.00 \n \n$ \n \n2,000.00 \n \nNOTE 9: FUND BALANCE CLASSIFICATION DETAILS \n \nThe School District's financial statements include the following amounts presented in the aggregate at June 30, 2023: \n \nNonspendable \n \nInventories \n \n$ 24,826.36 \n \nPrepaid Assets \n \n240,000.00 $ 264,826.36 \n \nRestricted \n \nContinuation of Federal Programs $ 623,020.88 \n \nCapital Projects \n \n765,803.55 \n \n1,388,824.43 \n \nAssigned \n \nSchool Activity Accounts \n \n325,870.97 \n \nUnassigned \n \n4,231,221.37 \n \nFund Balance, June 30, 2023 \n \n$ 6,210,743.13 \n \n- 17 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nWhen multiple categories of fund balance are available for an expenditure, the School District will start with the most restricted category and spend those funds first before moving down to the next category with available funds. \n \nNOTE 10: BROADBAND SPECTRUM AGREEMENT \n \nEffective July 29, 2011 and August 15, 2012, the School District entered into agreements which were 10 and 11 year agreements with Spectrum Holdings, Inc. for the use of excess spectrum capacity on Education Broadband Service licenses currently held by School District. These licenses were granted to the School District by the Federal Communications Commission (FCC). The agreements with Spectrum Holdings, Inc. include two additional renewal terms of 10 years each that become effective automatically conditioned only upon the lessee's desire to not extend the agreement and the FCC approval of the renewal of the agreements. Effective August 7, 2020, Spectrum Holdings, Inc. assigned all of its right, title, and interest of the leases to SoniqWave Networks LLC. The agreements require monthly payments over the term of the agreement, of which $32,828.27 was recognized during fiscal year 2023 as a general revenue on the Statement of Activities. \n \nNOTE 11: SIGNIFICANT COMMITMENTS \n \nCommitments under Construction Contracts \n \nThe following is an analysis of significant outstanding construction or renovation contracts executed by the School District as of June 30, 2023: \n \nProject \n \nUnearned Executed Contracts (1) \n \nPayments through June 30, 2023 (2) \n \nElementary School New Wing Addition \n \n$ \n \n1,547,785.35 $ \n \n10,935,776.32 \n \n(1) The amounts described are not reflected in the basic financial statements. (2) Payments include contracts and retainages payable at year end. \nNOTE 12: SIGNIFICANT CONTINGENT LIABILITIES \nFederal Grants \nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any costs which are disallowed under grant terms. Any disallowances resulting from the grantor audit may become a liability of the School District. However, the School District believes that such disallowances, if any, will be immaterial to its overall financial position. \nNOTE 13: 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 multiple-employer defined benefit post-employment \n \n- 18 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nhealthcare 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 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 payas-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 $387,299.00 for the year ended June 30, 2023. 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 \nAt June 30, 2023, the School District reported a liability of $10,100,453.00 for its proportionate share of the net OPEB liability. The net OPEB liability was measured as of June 30, 2022. The total OPEB liability used to calculate the net OPEB liability was based on an actuarial valuation as of June 30, 2021. An expected total OPEB liability as of June 30, 2022 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, 2022. At June 30, 2022, the School District's proportion was 0.101992%, which was an increase of 0.001487% from its proportion measured as of June 30, 2021. \n \n- 19 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nFor the year ended June 30, 2023, the School District recognized OPEB expense of ($574,586.00). At June 30, 2023, the School District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: \n \nOPEB Deferred Outflows of Resources \n \nDeferred Inflows of Resources \n \nDifferences between expected and actual \n \nexperience \n \n$ \n \n403,166.00 $ 3,969,784.00 \n \nChanges of assumptions \n \n1,538,320.00 \n \n2,042,831.00 \n \nNet difference between projected and actual \n \nearnings on OPEB plan investments \n \n61,610.00 \n \n- \n \nChanges in proportion and differences between School District contributions and proportionate share of contributions \n \n211,748.00 \n \n459,233.00 \n \nSchool District contributions subsequent to \n \nthe measurement date \n \n387,299.00 \n \n- \n \nTotal \n \n$ 2,602,143.00 $ 6,471,848.00 \n \nSchool District contributions subsequent to the measurement date 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, 2024. 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: \n \nOPEB \n \n2024 2025 2026 2027 2028 Thereafter \n \n$ (1,219,021.00) \n \n$ (994,961.00) \n \n$ (774,785.00) \n \n$ (847,159.00) \n \n$ (383,136.00) \n \n$ \n \n(37,942.00) \n \n- 20 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nActuarial Assumptions: The total OPEB liability as of June 30, 2022 was determined by an actuarial valuation as of June 30, 2021 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, 2022: \n \nOPEB: \n \nInflation \n \n2.50% \n \nSalary increases \n \n3.00%  8.75%, including inflation \n \nLong-term expected rate of return Healthcare cost trend rate \nPre-Medicare Eligible Medicare Eligible \n \n7.00%, compounded annually, net of investment expense, and including inflation \n6.50% \n5.00% \n \nUltimate trend rate Pre-Medicare Eligible Medicare Eligible \n \n4.50% 4.50% \n \nYear of Ultimate trend rate \n \nPre-Medicare Eligible \n \n2029 \n \nMedicare Eligible \n \n2023 \n \nThe Plan currently uses mortality tables that vary by age, gender, and health status (i.e. disabled or not disabled) as follows: \n \n For TRS members: Post-retirement mortality rates for service retirements and beneficiaries were based on the Pub-2010 Teachers Headcount Weighted Below Median Healthy Retiree mortality table (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. Post-retirement mortality rates for disability retirements were based on the Pub-2010 Teachers Mortality Table for Disabled Retirees (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. The Pub-2010 Teachers Headcount Weighted Below Median Employee mortality table with ages set forward one year and adjusted 106% was used for death prior to retirement. Future improvement in mortality rates was assumed using the MP-2019 projection scale generationally. These rates of improvement were reduced by 20% for all years prior to the ultimate rate. \n For PSERS members: Pre-retirement mortality rates were based on the Pub-2010 General Employee Mortality Table, with no adjustment, with the MP-2019 Projections scale applied generationally. Post-retirement mortality rates for service retirements were based on the Pub-2010 General Healthy Annuitant Mortality Table (ages set forward one year and adjusted 101% for males and 103% for females) with the MP-2019 Projection scale applied generationally. Postretirement mortality rates for disability retirements were based on the Pub-2010 General Disabled Mortality Table (ages set back three years for males and adjusted 103% for males - 21 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nand 106% for females) with the MP-2019 Projections scaled applied generationally. Postretirement mortality rates for beneficiaries were based on the Pub-2010 General Contingent Survivor Mortality Table (ages set forward two years and adjust 104% for males and 99% for females) with the MP-2019 Project scale applied generationally. \n \nThe actuarial assumptions used in the June 30, 2021 valuation were based on the results of an actuarial experience study for the pension systems, which covered the five-year period ending June 30, 2018, with the exception of the assumed annual rate of inflation with changed from 2.75% to 2.50%, effective with the June 30, 2018 valuation. \n \nThe remaining actuarial assumptions (e.g., initial per capita costs, health care cost trends, rate of plan participation, rates of plan election, etc.) used in the June 30, 2021 valuation were based on a review of recent plan experience done concurrently with the June 30, 2021 valuation. \n \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. \n \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. The 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 \n \nTarget Allocation \n \nLong-Term Expected Real Rate of Return* \n \nFixed income Equities \n \n30.00% 70.00% \n \n2.00% 9.40% \n \nTotal \n \n100.00% \n \n* Net of inflation \nDiscount Rate: In order to measure the total OPEB liability for the School OPEB Fund, a single equivalent interest rate of 3.57% was used as the discount rate, as compared with last year's rate of 2.20%. The plan's fiduciary net position was projected to not be able to make all future benefit payments of current plan members. Therefore, the municipal bond rate as used for the long-term rate of return was applied to all periods of projected benefit payments to determine total OPEB liability. This is comprised mainly of the yield or index rate for 20-year tax-exempt general obligation bonds with an average rating of AA or higher (3.54% 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 employers 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 2128. \n \n- 22 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nSensitivity of the School 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 3.57%, as well as what the School 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 (2.57%) or 1-percentage-point higher (4.57%) than the current discount rate: \n \n1% Decrease (2.57%) \n \nCurrent Discount Rate (3.57%) \n \n1% Increase (4.57%) \n \nSchool District's proportionate share \n \nof the Net OPEB liability \n \n$ \n \n11,424,825.00 $ \n \n10,100,453.00 $ \n \n8,977,990.00 \n \nSensitivity of the School 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 1percentage-point lower or 1-percentage-point higher than the current healthcare cost trend rates: \n \n1% Decrease \n \nCurrent Healthcare Cost Trend Rate \n \n1% Increase \n \nSchool District's proportionate share \n \nof the Net OPEB liability \n \n$ \n \n8,702,748.00 $ \n \n10,100,453.00 $ 11,818,227.00 \n \nOPEB Plan Fiduciary Net Position: Detailed information about the OPEB plan's fiduciary net position is available in the Annual Comprehensive Financial Report, which is publicly available at https://sao.georgia.gov/statewide-reporting/acfr. \n \nNOTE 14: RETIREMENT PLANS \n \nThe School District participates in various retirement plans administered by the State of Georgia, as further explained below. \n \nTeachers Retirement System of Georgia (TRS) \n \nPlan Description: All teachers of the School District as defined in O.C.G.A. 47-3-60 and certain other support personnel as defined by O.C.G.A. 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 Board of Trustees (TRS Board). Title 47 of the O.C.G.A. assigns the authority to establish and amend the benefit provisions to the State Legislature. The Teachers Retirement System of Georgia issues a publicly available separate financial report that can be obtained at www.trsga.com/publications. \n \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 \n \n- 23 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \ncompensation up to the time of disability. Death benefits equal the amount that would be payable to the employee's beneficiary had the employee 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 O.C.G.A., contribution requirements of active employees and participating employers, as actuarially determined, are established and may be amended by the TRS Board. Pursuant to O.C.G.A. 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 6.00% of their annual pay during fiscal year 2023. The School District's contractually required contribution rate for the year ended June 30, 2023 was 19.98% of annual School District payroll, of which 19.79% of payroll was required from the School District and 0.19% of payroll was required from the State. For the current fiscal year, employer contributions to the pension plan were $2,063,598.00 and $20,982.08 from the School District and the State, respectively. \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 O.C.G.A. 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 $15.75, 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 O.C.G.A. 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 current fiscal year contribution was $30,561.00. \n \n- 24 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nPension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions \nAt June 30, 2023, the School District reported a liability of $23,059,294.00 for its proportionate share of the net pension liability for TRS. \n \nThe TRS net pension liability reflected a reduction for support provided to the School District by the State of Georgia for certain public school support personnel. The amount recognized by the School District as its proportionate share of the net pension liability, the related State of Georgia support, and the total portion of the net pension liability that was associated with the School District were as follows: \n \nSchool District's proportionate share of the net pension liability \n \n$ \n \n23,059,294.00 \n \nState of Georgia's proportionate share of the net pension liability associated with the School District \n \n321,472.00 \n \nTotal \n \n$ \n \n23,380,766.00 \n \nThe net pension liability for TRS was measured as of June 30, 2022. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2021. An expected total pension liability as of June 30, 2022 was determined using standard roll-forward techniques. The School District's proportion of the net pension liability was based on contributions to TRS during the fiscal year ended June 30, 2022. \nAt June 30, 2022, the School District's TRS proportion was 0.071013%, which was a decrease of 0.002131% from its proportion measured as of June 30, 2021. \nAt June 30, 2023, the School District 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 School District is $253,570.00. \nThe PSERS net pension liability was measured as of June 30, 2022. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2021. An expected total pension liability as of June 30, 2022 was determined using standard roll-forward techniques. The State's proportion of the net pension liability associated with the School District was based on actuarially determined contributions paid by the State during the fiscal year ended June 30, 2022. \nFor the year ended June 30, 2023, the School District recognized pension expense of $3,161,474.00 for TRS, $63,722.00 for PSERS and revenue of $65,088.00 for TRS and $63,722.00 for PSERS. The revenue is support provided by the State of Georgia. For TRS the State of Georgia support is provided only for certain support personnel. \n \n- 25 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nAt June 30, 2023, the School District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: \n \nTRS Deferred Outflows of Resources \n \nDeferred Inflows of Resources \n \nDifferences between expected and actual \n \nexperience \n \n$ \n \n957,197.00 $ 120,029.00 \n \nChanges of assumptions \n \n3,471,159.00 \n \n- \n \nNet difference between projected and \n \nactual earnings on pension plan \n \ninvestments \n \n4,530,495.00 \n \n- \n \nChanges in proportion and differences between School District contributions and proportionate share of contributions \n \n2,875.00 \n \n755,804.00 \n \nSchool District contributions subsequent to \n \nthe measurement date \n \n2,063,598.00 \n \n- \n \nTotal \n \n$ 11,025,324.00 $ 875,833.00 \n \nThe School District contributions subsequent to the measurement date 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, 2024. 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: \n \nTRS \n \n2024 2025 2026 2027 \n \n$ 2,107,205.00 $ 1,555,906.00 $ 1,173,140.00 $ 3,249,642.00 \n \n- 26 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nActuarial Assumptions: The total pension liability as of June 30, 2022 was determined by an actuarial valuation as of June 30, 2021, using the following actuarial assumptions, applied to all periods included in the measurement: \n \nTeachers Retirement System: \n \nInflation \n \n2.50% \n \nSalary increases \n \n3.00%  8.75%, average, including inflation \n \nInvestment rate of return \n \n6.90%, net of pension plan investment expense, including inflation \n \nPost-retirement benefit increases 1.50% semi-annually \nPost-retirement mortality rates for service retirements and beneficiaries were based on the Pub-2010 Teachers Headcount Weighted Below Median Healthy Retiree mortality table (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. Post-retirement mortality rates for disability retirements were based on the Pub-2010 Teachers Mortality Table for Disabled Retirees (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. The Pub-2010 Teachers Headcount Weighted Below Median Employee mortality table with ages set forward one year and adjusted 106% as used for death prior to retirement. Future improvement in mortality rates was assumed using the MP-2019 projection scale generationally. These rates of improvement were reduced by 20% for all years prior to the ultimate rate. \nThe actuarial assumptions used in the June 30, 2021 valuation were based on the results of an actuarial experience study for the period July 1, 2013  June 30, 2018, with the exception of the investment rate of return and payroll growth assumption. \n \nPublic School Employees Retirement System: \n \nInflation Salary increases Investment rate of return \nPost-retirement benefit increases \n \n2.50% \nN/A 7.00%, net of pension plan investment expense, including inflation 1.50% semi-annually \n \n- 27 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nMortality rates are as follows: \n The Pub-2010 General Employee Table, with no adjustments, projected generationally with the MP-2019 scale is used for both males and females while in active service. \n The Pub-2010 Family of Tables projected generationally with the MP-2019 Scale and with further adjustments are used for post-retirement mortality assumptions as follows: \n \nParticipant Type Membership Table \n \nSet Forward (+)/ Setback (-) Adjustment to Rates \n \nService Retirees \n \nGeneral Healthy BelowMedian Annuitant \n \nMale: +2; Female: +2 \n \nMale: 101%; Female: 103% \n \nDisability Retirees General Disabled \n \nMale: -3; Female: 0 \n \nMale: 103%; Female: 106% \n \nBeneficiaries \n \nGeneral Below-Median Contingent Survivors \n \nMale: +2; Female: +2 \n \nMale: 104%; Female: 99% \n \nThe actuarial assumptions used in the June 30, 2021 valuation were based on the results of an actuarial experience study for the period July 1, 2014  June 30, 2019. \n \nThe long-term expected rate of return on TRS 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 returns, net of pension plan investment expense and 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. The target allocation and estimates of arithmetic real rates of return for each major asset class are summarized in the following table: \n \nAsset Class \nFixed income Domestic large stocks Domestic small stocks International developed market stocks International emerging market stocks Alternative \n \nTRS/PSERS Target \nAllocation \n30.00% 46.30% \n1.20% 12.30% \n5.20% 5.00% \n \nLong-Term Expected Real Rate of Return* \n0.20% 9.40% 13.40% 9.40% 11.40% 10.50% \n \nTotal \n \n100.00% \n \n* Rates shown are net of inflation \nDiscount Rate: The discount rate used to measure the total TRS pension liability was 6.90%. The discount rate used to measure the total PSERS pension liability was 7.00%. 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 nonemployer 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 and PSERS pension plans' 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- 28 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \nJUNE 30, 2023 \n \nEXHIBIT \"G\" \n \nSensitivity of the School District's Proportionate Share of the Net Pension Liability to Changes in the Discount Rate: The following presents the School District's proportionate share of the net pension liability calculated using the discount rate of 6.90%, as well as what the School District's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower (5.90%) or 1-percentage-point higher (7.90% ) than the current rate: \n \nTeachers Retirement System: \n \n1% Decrease (5.90%) \n \nCurrent Discount Rate (6.90%) \n \n1% Increase (7.90%) \n \nSchool District's proportionate share of \n \nthe net pension liability \n \n$ \n \n34,788,838.00 $ \n \n23,059,294.00 $ 13,480,570.00 \n \nPension Plan Fiduciary Net Position: Detailed information about the pension plan's fiduciary net position is available in the separately issued TRS and PSERS financial report which is publicly available at www.trsga.com/publications and www.ers.ga.gov/financials. \n \n- 29 - \n \n (This page left intentionally blank) \n \n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY TEACHERS RETIREMENT SYSTEM OF GEORGIA \n \nSCHEDULE \"1\" \n \nFor the Year Ended \nJune 30 \n \nSchool District's proportion \nof the Net Pension Liability (NPL) \n \nSchool District's proportionate share \nof the NPL \n \nState of Georgia's proportionate share \nof the NPL associated with the \nSchool District \n \nTotal \n \nSchool District's covered payroll \n \nSchool District's proportionate share of the NPL as a percentage of its covered payroll \n \nPlan fiduciary net position as a percentage \nof the total pension liability \n \n2023 2022 2021 2020 2019 2018 2017 2016 2015 \n \n0.071013% $ 23,059,294.00 $ 0.073144% $ 6,469,099.00 $ 0.075658% $ 18,327,329.00 $ 0.078097% $ 16,792,967.00 $ 0.078119% $ 14,500,560.00 $ 0.077289% $ 14,364,399.00 $ 0.081000% $ 16,711,203.00 $ 0.085361% $ 12,995,365.00 $ 0.086077% $ 10,874,694.00 $ \n \n321,472.00 $ 23,380,766.00 $ 9,707,908.99 \n \n59,965.00 $ 6,529,064.00 $ 9,604,892.92 \n \n239,090.00 $ 18,566,419.00 $ 9,888,112.93 \n \n221,693.00 $ 17,014,660.00 $ 9,657,911.18 \n \n193,046.00 $ 14,693,606.00 $ 9,444,838.90 \n \n88,094.00 $ 14,452,493.00 $ 8,928,966.37 \n \n- \n \n$ 16,711,203.00 $ 8,891,828.15 \n \n- \n \n$ 12,995,365.00 $ 9,010,349.20 \n \n- \n \n$ 10,874,694.00 $ 8,781,604.24 \n \n237.53% 67.35% \n185.35% 173.88% 153.53% 160.87% 187.94% 144.23% 123.83% \n \n72.85% 92.03% 77.01% 78.56% 80.27% 79.33% 76.06% 81.44% 84.03% \n \nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \n \n- 31 - \n \n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION \nSCHEDULE OF CONTRIBUTIONS TEACHERS RETIREMENT SYSTEM OF GEORGIA \n \nSCHEDULE \"2\" \n \nFor the Year Ended June 30 \n \nContractually required contribution \n \nContributions in relation to the contractually required \ncontribution \n \nContribution deficiency (excess) \n \nSchool District's covered payroll \n \nContribution as a percentage of covered \npayroll \n \n2023 \n \n$ \n \n2022 \n \n$ \n \n2021 \n \n$ \n \n2020 \n \n$ \n \n2019 \n \n$ \n \n2018 \n \n$ \n \n2017 \n \n$ \n \n2016 \n \n$ \n \n2015 \n \n$ \n \n2,063,598.00 $ 1,898,867.00 $ 1,813,872.00 $ 2,063,452.62 $ 1,992,198.43 $ 1,566,854.00 $ 1,266,399.00 $ 1,268,863.94 $ 1,184,860.93 $ \n \n2,063,598.00 $ 1,898,867.00 $ 1,813,872.00 $ 2,063,452.62 $ 1,992,198.43 $ 1,566,854.00 $ 1,266,399.00 $ 1,268,863.94 $ 1,184,860.93 $ \n \n- \n \n$ \n \n10,427,686.50 \n \n- \n \n$ \n \n9,707,908.99 \n \n- \n \n$ \n \n9,604,892.92 \n \n- \n \n$ \n \n9,888,112.93 \n \n- \n \n$ \n \n9,657,911.18 \n \n- \n \n$ \n \n9,444,838.90 \n \n- \n \n$ \n \n8,928,966.37 \n \n- \n \n$ \n \n8,891,828.15 \n \n- \n \n$ \n \n9,010,349.20 \n \n19.79% 19.56% 18.88% 20.87% 20.63% 16.59% 14.18% 14.27% 13.15% \n \nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \n \n- 32 - \n \n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA \n \nSCHEDULE \"3\" \n \nFor the Year Ended \nJune 30 \n \nSchool District's proportion of the Net Pension Liability (NPL) \n \nSchool District's proportionate share \nof the NPL \n \nState of Georgia's proportionate share \nof the NPL associated with the \nSchool District \n \nTotal \n \nSchool District's covered payroll \n \nSchool District's proportionate share of the NPL as a percentage of its covered payroll \n \nPlan fiduciary net position as a \npercentage of the total pension \nliability \n \n2023 2022 2021 2020 2019 2018 2017 2016 2015 \n \n0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n- \n \n$ \n \n253,570.00 $ 22,806.00 $ \n167,656.00 $ 167,020.00 $ 131,113.00 $ 147,035.00 $ 178,428.00 $ 110,965.00 $ \n98,846.00 $ \n \n253,570.00 $ 22,806.00 $ \n167,656.00 $ 167,020.00 $ 131,113.00 $ 147,035.00 $ 178,428.00 $ 110,965.00 $ \n98,846.00 $ \n \n396,409.87 318,784.20 318,810.15 320,317.34 307,414.03 334,920.33 282,307.57 273,965.88 253,172.53 \n \nN/A \n \n81.21% \n \nN/A \n \n98.00% \n \nN/A \n \n84.45% \n \nN/A \n \n85.02% \n \nN/A \n \n85.26% \n \nN/A \n \n85.69% \n \nN/A \n \n81.00% \n \nN/A \n \n87.00% \n \nN/A \n \n88.29% \n \nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \n \n- 33 - \n \n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET OPEB LIABILITY \nSCHOOL OPEB FUND \n \nSCHEDULE \"4\" \n \nFor the Year Ended \nJune 30 \n \nSchool District's proportion of the Net OPEB Liability (NOL) \n \nSchool District's proportionate share \nof the NOL \n \nState of Georgia's proportionate \nshare of the NOL associated with the School District \n \nTotal \n \nSchool District's covered-employee \npayroll \n \nSchool District's proportionate share of the NOL as a percentage of its coveredemployee payroll \n \nPlan fiduciary net position \nas a percentage of the total OPEB \nliability \n \n2023 2022 2021 2020 2019 2018 \n \n0.101992% $ 10,100,453.00 $ 0.100505% $ 10,885,523.00 $ 0.101855% $ 14,960,127.00 $ 0.105197% $ 12,909,929.00 $ 0.106227% $ 13,501,126.00 $ 0.105796% $ 14,864,296.00 $ \n \n- \n \n$ 10,100,453.00 $ 8,793,133.30 \n \n- \n \n$ 10,885,523.00 $ 8,568,849.18 \n \n- \n \n$ 14,960,127.00 $ 8,392,067.68 \n \n- \n \n$ 12,909,929.00 $ 8,080,443.72 \n \n- \n \n$ 13,501,126.00 $ 8,039,138.97 \n \n- \n \n$ 14,864,296.00 $ 7,642,002.71 \n \n114.87% 127.04% 178.27% 159.77% 167.94% 194.51% \n \n6.17% 6.14% 3.99% 4.63% 2.93% 1.61% \n \nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \n \n- 34 - \n \n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION \nSCHEDULE OF CONTRIBUTIONS SCHOOL OPEB FUND \n \nSCHEDULE \"5\" \n \nFor the Year Ended June 30 \n \nContractually required contribution \n \nContributions in relation to the contractually required \ncontribution \n \nContribution deficiency (excess) \n \nSchool District's covered-employee \npayroll \n \nContribution as a percentage of \ncovered-employee payroll \n \n2023 \n \n$ \n \n2022 \n \n$ \n \n2021 \n \n$ \n \n2020 \n \n$ \n \n2019 \n \n$ \n \n2018 \n \n$ \n \n387,299.00 $ 368,779.00 $ 373,860.00 $ 344,448.00 $ 566,562.00 $ 550,563.00 $ \n \n387,299.00 $ 368,779.00 $ 373,860.00 $ 344,448.00 $ 566,562.00 $ 550,563.00 $ \n \n- \n \n$ \n \n8,836,456.64 \n \n- \n \n$ \n \n8,793,133.30 \n \n- \n \n$ \n \n8,568,849.18 \n \n- \n \n$ \n \n8,392,067.68 \n \n- \n \n$ \n \n8,080,443.72 \n \n- \n \n$ \n \n8,039,138.97 \n \n4.38% 4.19% 4.36% 4.10% 7.01% 6.85% \n \nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \n \n- 35 - \n \n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION \nFOR THE YEAR ENDED JUNE 30, 2023 \n \nSCHEDULE \"6\" \n \nTeachers Retirement System Change of benefit terms: There have been no changes in benefit terms. \nChanges of assumptions: On November 18, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to rates of mortality, retirement, disability, withdrawal and salary increases. The expectation of retired life mortality was changed to RP-2000 White Collar Mortality Table with future mortality improvement projected to 2025 with the Society of Actuaries' projection scale BB (set forward one year for males). \nOn May 15, 2019, the Board adopted recommended changes from the smoothed valuation interest rate methodology that has been in effect since June 30, 2009, to a constant interest rate method. In conjunction with the methodology, the long-term assumed rate of return in assets (discount rate) has been changed from 7.50% to 7.25%, and the assumed annual rate of inflation has been reduced from 2.75% to 2.50%. \nIn 2019 and later, the expectation of retired life mortality was changed to the Pub-2010 Teacher Headcount Weighted Below Median Healthy Retiree mortality table from the RP-2000 Mortality Tables. In 2019, rates of withdrawal, retirement, disability and mortality were adjusted to more closely reflect actual experience. \nOn May 11, 2022, the Board adopted recommended changes to the long-term assumed rate of return and payroll growth assumption utilized by the System. The long-term assumed rate of return was changed from 7.25% to 6.90%, and the payroll growth assumption was changed from 3.00% to 2.50%. \nPublic School Employees Retirement System Changes of benefit terms: There have been no changes in benefit terms. \nChanges of assumptions: On December 17, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to rates of mortality, retirement and withdrawal. The expectation of retired life mortality was changed to 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). \nA new funding policy was initially adopted by the Board on March 15, 2018, and most recently amended on December 17, 2020. Because of this new funding policy, the assumed investment rate of return was reduced from 7.50% to 7.40% for the June 30, 2017 actuarial valuation and further reduced from 7.40% to 7.30% for the June 30, 2018 actuarial valuation. \nOn December 17, 2020, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System based on the experience study prepared for the five-year period ending June 30, 2019. Primary among the changes were the updates to rates or mortality, retirement, disability, and withdrawal. This also included a change to the long-term assumed investment rate of return to 7.00%. These assumption changes are reflected in the calculation of the June 30, 2021 Total Pension Liability. \nSchool OPEB Fund Changes of benefit terms: There have been no changes in benefit terms. \nChanges in assumptions: June 30, 2020 valuation: Decremental assumptions were changed to reflect the Employees' Retirement System's experience study. Approximately 0.10% of employees are members of the Employees' Retirement System. \nJune 30, 2019 valuation: Decremental assumptions were changed to reflect the Teachers Retirement System's experience study. \nJune 30, 2018 valuation: The inflation assumption was lowered from 2.75% to 2.50%. \nJune 30, 2017 valuation: The participation assumption, tobacco use assumption and morbidity factors were revised. \nJune 30, 2015 valuation: Decremental and underlying inflation assumptions were changed to reflect the Retirement Systems' experience studies. \nJune 30, 2012 valuation: A data audit was performed and data collection procedures and assumptions were changed. \nThe 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, back to 3.58% as of June 30, 2019, and to 2.22% as of June 30, 2020. \n \n- 36 - \n \n LANIER COUNTY BOARD OF EDUCATION GENERAL FUND \nSCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL \nYEAR ENDED JUNE 30, 2023 \n \nSCHEDULE \"7\" \n \nREVENUES Property Taxes Sales Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous Total Revenues \nEXPENDITURES Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Enterprise Operation Food Services Operation Capital Outlay Total Expenditures \nExcess of Revenues over (under) Expenditures \nOTHER FINANCING SOURCES(USES) Other Sources Other Uses Total Other Financing Sources (Uses) \nNet Change in Fund Balances \nFund Balances - Beginning \nAdjustments \nFund Balances - Ending \n \nNONAPPROPRIATED BUDGETS \n \nORIGINAL (1) \n \nFINAL (1) \n \nACTUAL AMOUNTS \n \nVARIANCE OVER/UNDER \n \n$ \n \n3,277,000.00 $ \n \n3,477,000.00 $ \n \n3,737,172.58 $ \n \n40,000.00 \n \n40,000.00 \n \n99,368.34 \n \n15,061,303.00 \n \n15,333,833.00 \n \n15,993,851.01 \n \n1,188,000.00 \n \n2,488,895.00 \n \n6,999,665.33 \n \n25,000.00 \n \n25,000.00 \n \n121,188.61 \n \n22,500.00 \n \n22,500.00 \n \n30,527.82 \n \n150,400.00 \n \n150,400.00 \n \n785,543.81 \n \n19,764,203.00 \n \n21,537,628.00 \n \n27,767,317.50 \n \n260,172.58 59,368.34 \n660,018.01 4,510,770.33 \n96,188.61 8,027.82 \n635,143.81 6,229,689.50 \n \n12,744,338.71 \n1,165,072.88 890,210.92 264,201.74 424,751.94 \n1,220,463.57 235,305.94 \n1,572,040.75 1,188,514.66 \n17,000.00 144,072.00 \n3,000.31 1,169,621.20 5,501,239.00 26,539,833.62 (6,775,630.62) \n \n13,173,457.71 \n1,254,908.37 1,024,852.27 \n264,201.74 419,611.94 1,220,463.57 235,305.94 1,672,040.75 1,455,374.66 \n17,000.00 167,774.00 \n3,000.31 1,169,621.20 5,501,239.00 27,578,851.46 (6,041,223.46) \n \n13,171,032.51 \n1,340,830.54 978,036.78 262,031.05 479,530.15 \n1,222,235.23 260,891.19 \n2,125,821.23 1,447,870.60 \n16,091.19 169,180.82 \n1,532.56 1,541,083.27 2,347,962.09 25,364,129.21 2,403,188.29 \n \n2,425.20 \n(85,922.17) 46,815.49 \n2,170.69 (59,918.21) \n(1,771.66) (25,585.25) (453,780.48) \n7,504.06 908.81 \n(1,406.82) 1,467.75 (371,462.07) 3,153,276.91 2,214,722.25 8,444,411.75 \n \n206,303.00 (1,706,303.00) (1,500,000.00) \n \n231,218.00 (1,731,218.00) (1,500,000.00) \n \n(2,500,000.00) (2,500,000.00) \n \n(231,218.00) (768,782.00) (1,000,000.00) \n \n(8,275,630.62) \n \n(7,541,223.46) \n \n(96,811.71) \n \n7,444,411.75 \n \n5,607,078.98 \n \n5,607,078.98 \n \n5,541,751.29 \n \n(65,327.69) \n \n27,685.15 \n \n(4,613.51) \n \n- \n \n4,613.51 \n \n$ \n \n(2,640,866.49) $ \n \n(1,938,757.99) $ \n \n5,444,939.58 $ \n \n7,383,697.57 \n \nNotes to the Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual \n(1) Original and Final Budget amounts do not include the budgeted revenues or expenditures of the various principal accounts. The actual revenues and expenditures of the various principal accounts are $526,859.31 and $498,200.01, respectively. \nThe accompanying schedule of revenues, expenditures and changes in fund balances budget and actual is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the fund financial statements. \n \nSee notes to the basic financial statements. \n \n- 37 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \nYEAR ENDED JUNE 30, 2023 \n \nSCHEDULE \"8\" \n \nFUNDING AGENCY PROGRAM/GRANT Agriculture, U. S. Department of \nChild Nutrition Cluster Pass-Through From Georgia Department of Education Food Services School Breakfast Program National School Lunch Program COVID-19 - National School Lunch Program Total Child Nutrition Cluster \nOther Programs Pass-Through From Georgia Department of Education Food Services State Administrative Expenses for Child Nutrition Total U. S. Department of Agriculture \nEducation, U. S. Department of Direct Impact Aid Payments for Federally Connected Children - Section 7003 \nEducation Stabilization Fund Pass-Through From Georgia Department of Education COVID-19 - American Rescue Plan Elementary and Secondary School Emergency Relief Fund COVID-19 - American Rescue Plan Elementary and Secondary School Emergency Relief Fund - Homeless Children and Youth Total Education Stabilization Fund \nSpecial Education Cluster Pass-Through From Georgia Department of Education Special Education Grants to States Grants to States Preschool Grants Total Special Education Cluster \nOther Programs Pass-Through From Georgia Department of Education Career and Technical Education - Basic Grants to States Comprehensive Literacy Development Migrant Education State Grant Program Title I Grants to Local Educational Agencies Title I Grants to Local Educational Agencies Total Other Programs Total U. S. Department of Education \n \nASSISTANCE LISTING NUMBER \n \nPASSTHROUGH \nENTITY ID \nNUMBER \n \nEXPENDITURES IN PERIOD \n \n10.553 10.555 10.555 \n \n235GA324N1199 $ 235GA324N1199 225GA324N1099 \n \n314,668.07 1,105,136.02 \n58,044.29 1,477,848.38 \n \n10.560 \n \n235GA904N2533 \n \n2,236.03 1,480,084.41 \n \n84.041B \n \n28,897.00 \n \n84.425U 84.425W \n \nS425U210012 S425W210011 \n \n3,680,305.89 \n934.00 3,681,239.89 \n \n84.027A 84.027A 84.173A \n \nH027A210073 H027A220073 H173A220081 \n \n84.048A 84.371C 84.011A 84.010A 84.010A \n \nV048A220010 S371C190016-19A \nS011A220011 S010A210010-21A \nS010A220010 \n \n99,419.00 350,563.30 \n16,244.00 466,226.30 \n36,879.00 421,344.86 \n33,707.78 82,525.00 864,776.49 1,439,233.13 5,615,596.32 \n \n- 38 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \nYEAR ENDED JUNE 30, 2023 \n \nSCHEDULE \"8\" \n \nFUNDING AGENCY PROGRAM/GRANT \nHealth and Human Services, U. S. Department of Pass-Through From Bright From the Start Georgia Department of Early Care and Learning COVID-19 - Child Care and Development Block Grant \nTotal Expenditures of Federal Awards \n \nASSISTANCE LISTING NUMBER \n \nPASSTHROUGH \nENTITY ID \nNUMBER \n \nEXPENDITURES IN PERIOD \n \n93.575 \n \n2110GACCC5 $ \n \n20,000.00 7,115,680.73 \n \nNotes to the Schedule of Expenditures of Federal Awards \nNote 1. Basis of Presentation \nThe accompanying schedule of expenditures of federal awards (the \"Schedule\") includes the federal award activity of the Lanier County Board of Education (the \"Board\") under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Board, it is not intended to and does not present the financial position or changes in net position of the Board. \nNote 2. Summary of Significant Accounting Policies \nExpenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. \nNote 3. Indirect Cost Rate \nThe Board has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. \nNote 4. Transfers Between Programs \nFunds totaling $109,786.00 were transferred from the Title II-A Improving Teacher Quality program (ALN 84.367) and funds totaling $48,559.00 were transferred from the Title IV-Part A Student Support and Academic Enrichment program (ALN 84.424A) and expended in the Title I-A Improving the Academic Achievement of the Disadvantaged program (ALN 84.010) during Fiscal Year 2023. \n \nSee notes to the basic financial statements. \n \n- 39 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2023 \nAGENCY/FUNDING GRANTS Bright From the Start: Georgia Department of Early Care and Learning Pre-Kindergarten Program Education, Georgia Department of Quality Basic Education Direct Instructional Cost Kindergarten Program Kindergarten Program - Early Intervention Program Primary Grades (1-3) Program Primary Grades - Early Intervention (1-3) Program Upper Elementary Grades (4-5) Program Upper Elementary Grades - Early Intervention (4-5) Program Middle School (6-8) Program High School General Education (9-12) Program Vocational Laboratory (9-12) Program Students with Disabilities Gifted Student - Category VI Remedial Education Program Alternative Education Program English Speakers of Other Languages (ESOL) Media Center Program 20 Days Additional Instruction Staff and Professional Development Principal Staff and Professional Development Indirect Cost Central Administration School Administration Facility Maintenance and Operations Categorical Grants Pupil Transportation Regular Sparsity - Regular Nursing Services Education Equalization Funding Grant Health Insurance Increase ( 6 MO New Rate) Other State Programs Food Services Hygiene Products Math and Science Supplements Preschool Disability Services Pupil Transportation Teachers Retirement Vocational Education Vocational Supervisors Office of the State Treasurer Public School Employees Retirement CONTRACTS Human Resources, Georgia Department of Division of Family and Children Services Promoting Safe and Stable Families Second Step Social-Emotional Learning Human Resources, Georgia Department of Family Connections \nSee notes to the basic financial statements. \n \nSCHEDULE \"9\" \n \nGOVERNMENTAL FUND TYPE GENERAL FUND \n \n$ \n \n438,145.77 \n \n405,786.00 346,932.00 1,259,523.00 496,434.00 443,727.00 292,588.00 1,216,482.00 877,527.00 493,964.00 2,264,874.00 390,681.00 166,258.00 \n86,490.00 61,461.00 213,078.00 63,402.00 43,155.00 \n1,299.00 \n455,795.00 567,362.00 459,074.00 \n174,216.00 34,453.00 45,946.00 \n3,759,830.00 354,510.00 \n45,770.00 1,384.00 \n17,908.50 19,125.66 264,330.00 20,982.08 56,195.00 \n7,167.00 \n30,561.00 \n \n15,000.00 49,935.00 \n \n52,500.00 \n \n$ \n \n15,993,851.01 \n \n- 40 - \n \n (This page left intentionally blank) \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \nYEAR ENDED JUNE 30, 2023 \n \nSCHEDULE \"10\" \n \nPROJECT SPLOST V \ni) To repay previously incurred debt on the issuance or sale of obligation bonds; \nii) Adding to, renovating, repairing, improving, and equipping existing school buildings and other buildings and facilities; \niii) Acquiring technology improvements for existing schools, including safety and security improvements, computer technology, hardware and software; \niv) Acquiring school buses, maintenance vehicles and equipment; \nv) Acquiring any necessary property therefor, both real and personal; \nvi) Acquire band instruments, textbooks and instructional materials; and \nvii) To pay expenses incident to accomplishing the foregoing. \nTotal \n \nORIGINAL ESTIMATED \nCOST (1) \n \nCURRENT ESTIMATED COSTS (2) \n \nESTIMATED COMPLETION \nDATE \n \n$ \n \n2,000,000.00 $ \n \n2,000,000.00 \n \n12/31/2024 \n \n1,000,000.00 \n \n8,948,257.15 \n \n12/31/2024 \n \n500,000.00 \n \n500,000.00 \n \n500,000.00 \n \n500,000.00 \n \n500,000.00 \n \n500,000.00 \n \n250,000.00 \n \n250,000.00 \n \n250,000.00 \n \n250,000.00 \n \n$ \n \n5,000,000.00 $ \n \n12,948,257.15 \n \n12/31/2024 12/31/2024 12/31/2024 12/31/2024 12/31/2024 \n \n- 42 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \nYEAR ENDED JUNE 30, 2023 \n \nSCHEDULE \"10\" \n \nPROJECT SPLOST V \ni) To repay previously incurred debt on the issuance or sale of obligation bonds; \nii) Adding to, renovating, repairing, improving, and equipping existing school buildings and other buildings and facilities; \niii) Acquiring technology improvements for existing schools, including safety and security improvements, computer technology, hardware and software; \niv) Acquiring school buses, maintenance vehicles and equipment; \nv) Acquiring any necessary property therefor, both real and personal; \nvi) Acquire band instruments, textbooks and instructional materials; and \nvii) To pay expenses incident to accomplishing the foregoing. \nTotal \n \nAMOUNT EXPENDED IN CURRENT YEAR (3) \n \nAMOUNT EXPENDED IN PRIOR YEARS (3) \n \nTOTAL COMPLETION \nCOST \n \nEXCESS PROCEEDS NOT \nEXPENDED \n \n$ \n \n- $ \n \n977,436.12 $ \n \n- $ \n \n- \n \n7,918,442.13 \n \n1,029,815.02 \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n20,809.50 \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n- \n \n$ \n \n7,939,251.63 $ \n \n2,007,251.14 $ \n \n- $ \n \n- \n \n(1) The School District's original cost estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax. (2) The School District's current estimate of total cost for the projects. Includes all cost from project inception to completion. (3) The voters of Lanier County approved the imposition of a 1% sales tax to fund the above projects and retire associated debt. \nAmounts expended for these projects may include sales tax proceeds, state, local property taxes and/or other funds over the life of the projects. \n \nSee notes to the basic financial statements. \n \n- 43 - \n \n Section II Compliance and Internal Control Reports \n \n Greg S. Griffin State Auditor \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 \nThe Honorable Brian P. Kemp, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the State Board of Education \nand Mr. Gene Culpepper, Superintendent and Members of the Lanier County Board of Education \nWe have audited the financial statements of the governmental activities and each major fund of the Lanier County Board of Education (School District) as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the School District's basic financial statements, and have issued our report thereon dated March 15, 2024. We conducted our audit in accordance with the auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. \nReport on Internal Control Over Financial Reporting \nIn planning and performing our audit of the financial statements, we considered the School District's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the basic financial statements, but not for the purpose of expressing an opinion on the effectiveness of the School District's internal control. Accordingly, we do not express an opinion on the effectiveness of the School District'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 School District'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 was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified. \n270 Washington Street, SW, Suite 4-101 Atlanta, Georgia 30334 | Phone (404) 656-2180 \n \n Report on Compliance and Other Matters \nAs part of obtaining reasonable assurance about whether the School District'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 financial statements. 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. \nPurpose of this Report \nThe 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 School District'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 School District's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. \nRespectfully submitted, \nGreg S. Griffin State Auditor \nMarch 15, 2024 \n \n Greg S. Griffin State Auditor \nINDEPENDENT AUDITOR'S REPORT ON COMPLIANCE FOR EACH MAJOR FEDERAL PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE \nThe Honorable Brian P. Kemp, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the State Board of Education \nand Mr. Gene Culpepper, Superintendent and Members of the Lanier County Board of Education \nReport on Compliance for Each Major Federal Program \nOpinion on Each Major Federal Program \nWe have audited the Lanier County Board of Education's (School District) compliance with the types of compliance requirements identified as subject to audit in the OMB Compliance Supplement that could have a direct and material effect on each of the School District's major federal programs for the year ended June 30, 2023. The School District's major federal programs are identified in the Summary of Auditor's Results section of the accompanying Schedule of Findings and Questioned Costs. \nIn our opinion, the School District 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, 2023. \nBasis for Opinion on Each Major Federal Program \nWe conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America (GAAS); 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Our responsibilities under those standards and the Uniform Guidance are further described in the Auditor's Responsibilities for the Audit of Compliance section of our report. \nWe are required to be independent of the School District and to meet our other ethical responsibilities, in accordance with relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each major federal program. Our audit does not provide a legal determination of the School District's compliance with the compliance requirements referred to above. \n270 Washington Street, SW, Suite 4-101 Atlanta, Georgia 30334 | Phone (404) 656-2180 \n \n Responsibilities of Management for Compliance \nManagement is responsible for compliance with the requirements referred to above and for the design, implementation, and maintenance of effective internal control over compliance with the requirements of laws, statutes, regulations, rules and provisions of contracts or grant agreements applicable to the School District's federal programs. \nAuditor's Responsibilities for the Audit of Compliance \nOur objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion on the School District's compliance based on our audit. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Noncompliance with the compliance requirements referred to above is considered material, if there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about the School District's compliance with the requirements of each major federal program as a whole. \nIn performing an audit in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance, we: \n Exercise professional judgment and maintain professional skepticism throughout the audit. \n Identify and assess the risks of material noncompliance, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the School District's compliance with the compliance requirements referred to above and performing such other procedures as we considered necessary in the circumstances. \n Obtain an understanding of the School District's internal control over compliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances 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 the School District's internal control over compliance. Accordingly, no such opinion is expressed. \nWe are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over compliance that we identified during the audit. \nReport on 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 a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance \n \n 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 Auditor's Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified. \nOur audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed. \nThe 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. \nRespectfully submitted, \nGreg S. Griffin State Auditor \nMarch 15, 2024 \n \n Section III Auditee's Response to Prior Year Findings and Questioned Costs \n \n LANIER COUNTY BOARD OF EDUCATION AUDITEE'S RESPONSE \nSUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS YEAR ENDED JUNE 30, 2023 \nPRIOR YEAR FINANCIAL STATEMENT FINDINGS \nNo matters were reported. \nPRIOR YEAR FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \nNo matters were reported. \n \n Section IV Findings and Questioned Costs \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS \nYEAR ENDED JUNE 30, 2023 \n \nI SUMMARY OF AUDITOR'S RESULTS \n \nFinancial Statements \n \nType of auditor's report issued: Governmental Activities and Each Major Fund \n \nInternal control over financial reporting:  Material weakness(es) identified? \n Significant deficiency(ies) identified? \n \nNoncompliance material to financial statements noted: \n \nFederal Awards \n \nInternal control over major programs:  Material weakness(es) identified? \n Significant deficiency(ies) identified? \n \nType of auditor's report issued on compliance for major programs: \n \nAll major programs \n \nAny audit findings disclosed that are required to be reported in accordance with 2 CFR 200.516(a)? \n \nIdentification of major programs: \n \nAssistance Listing Number Assistance Listing Program or Cluster Title \n \n84.425 \n \nEducation Stabilization Fund \n \nDollar threshold used to distinguish between Type A and Type B programs: \n \nAuditee qualified as low-risk auditee? \n \nII FINANCIAL STATEMENT FINDINGS No matters were reported. lll FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported. \n \nUnmodified No \nNone Reported No \nNo None Reported \nUnmodified No \n$750,000.00 Yes \n \n "},{"id":"dlg_ggpd_1378070965-2023-03-08","title":"Annual financial report 2022 June 30 Lanier County Board of Education, Lakeland, Georgia, including independent auditor's report.","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Lanier County, 31.03789, -83.06265"],"dcterms_creator":null,"dc_date":["2023-03-08"],"dcterms_description":["Began with: Fiscal year 2021.","Report year covers fiscal year.","May have supplement: Salaries and travel reimbursement (Lanier County Board of Education, Ga.)"],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Georgia : Georgia Department of Audits \u0026 Accounts, [2022?]-"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Lanier County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Lanier County--Auditing--Periodicals.","Education--Georgia--Lanier County--Finance--Statistics--Periodicals.","Education--Auditing","Education--Finance","Expenditures, Public","Georgia--Lanier County.--fast--(OCoLC)fst01217795","Georgia Government Documents--Serial"],"dcterms_title":["Annual financial report 2022 June 30 Lanier County Board of Education, Lakeland, Georgia, including independent auditor's report."],"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_1378070965-2023-03-08"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_1378070965-2023-03-08"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"ANNUAL FINANCIAL REPORT  FISCAL YEAR 2022 \r\nLanier County Board of Education \r\nLakeland, Georgia \r\nIncluding Independent Auditor's Report \r\nGreg S. Griffin | State Auditor \r\n \r\n Lanier County Board of Education \r\n \r\nTable of Contents \r\n \r\nSection I Financial \r\nIndependent Auditor's Report \r\n \r\nExhibits \r\n \r\nBasic Financial Statements \r\n \r\nGovernment-Wide Financial Statements \r\n \r\nA \r\n \r\nStatement of Net Position \r\n \r\n1 \r\n \r\nB \r\n \r\nStatement of Activities \r\n \r\n2 \r\n \r\nFund Financial Statements \r\n \r\nC \r\n \r\nBalance Sheet \r\n \r\nGovernmental Funds \r\n \r\n3 \r\n \r\nD \r\n \r\nReconciliation of the Governmental Funds Balance Sheet \r\n \r\nto the Statement of Net Position \r\n \r\n4 \r\n \r\nE \r\n \r\nStatement of Revenues, Expenditures and Changes in Fund Balances \r\n \r\nGovernmental Funds \r\n \r\n5 \r\n \r\nF \r\n \r\nReconciliation of the Governmental Funds Statement of \r\n \r\nRevenues, Expenditures and Changes in Fund Balances \r\n \r\nto the Statement of Activities \r\n \r\n6 \r\n \r\nG \r\n \r\nNotes to the Basic Financial Statements \r\n \r\n7 \r\n \r\nSchedules \r\n \r\nRequired Supplementary Information \r\n \r\n1 Schedule of Proportionate Share of the Net Pension Liability \r\n \r\nTeachers Retirement System of Georgia \r\n \r\n31 \r\n \r\n2 Schedule of Contributions  Teachers Retirement System of Georgia \r\n \r\n32 \r\n \r\n3 Schedule of Proportionate Share of the Net Pension Liability \r\n \r\nPublic School Employees Retirement System of Georgia \r\n \r\n33 \r\n \r\n4 Schedule of Proportionate Share of the Net OPEB Liability \r\n \r\nSchool OPEB Fund \r\n \r\n34 \r\n \r\n5 Schedule of Contributions  School OPEB Fund \r\n \r\n35 \r\n \r\n6 Notes to the Required Supplementary Information \r\n \r\n36 \r\n \r\n7 Schedule of Revenues, Expenditures and Changes in Fund \r\n \r\nBalances - Budget and Actual \r\n \r\nGeneral Fund \r\n \r\n37 \r\n \r\n Supplementary Information (continued) \r\n \r\n8 Schedule of Expenditures of Federal Awards \r\n \r\n38 \r\n \r\n9 Schedule of State Revenue \r\n \r\n40 \r\n \r\n10 Schedule of Approved Local Option Sales Tax Projects \r\n \r\n42 \r\n \r\nSection II \r\nCompliance and Internal Control Reports \r\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 \r\nIndependent Auditor's Report on Compliance for Each Major Federal Program and on Internal Control Over Compliance Required by the Uniform Guidance \r\n \r\nSection III Auditee's Response to Prior Year Findings and Questioned Costs Summary Schedule of Prior Year Findings \r\n \r\nSection IV Findings and Questioned Costs Schedule of Findings and Questioned Costs \r\n \r\n Section I Financial \r\n \r\n Greg S. Griffin State Auditor \r\nINDEPENDENT AUDITOR'S REPORT \r\nThe Honorable Brian P. Kemp, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the State Board of Education \r\nand Mrs. Anita Watson, Superintendent and Members of the Lanier County Board of Education \r\nReport on the Audit of the Financial Statements \r\nOpinions \r\nWe have audited the accompanying financial statements of the governmental activities and each major fund of the Lanier County Board of Education (School District) as of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the School District's basic financial statements as listed in the table of contents. \r\nIn our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the School District as of June 30, 2022, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. \r\nBasis for Opinions \r\nWe conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. \r\nWe are required to be independent of the School District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. \r\nResponsibilities of Management for the Financial Statements \r\nManagement is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for 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. \r\n270 Washington Street, SW, Suite 4-101 Atlanta, Georgia 30334 | Phone (404) 656-2180 \r\n \r\n In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the School District's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. \r\nAuditor's Responsibilities for the Audit of the Financial Statements \r\nOur objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. \r\nIn performing an audit in accordance with GAAS and Government Auditing Standards, we: \r\n Exercise professional judgment and maintain professional skepticism throughout the audit. \r\n Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. \r\n Obtain an understanding of internal control relevant to the audit 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 School District's internal control. Accordingly, no such opinion is expressed. \r\n Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. \r\n Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the School District's ability to continue as a going concern for a reasonable period of time. \r\nWe are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit. \r\nRequired Supplementary Information \r\nManagement has omitted the Management's Discussion and Analysis that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing 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 \r\n \r\n financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinions on the basic financial statements are not affected by this missing information. \r\nAccounting principles generally accepted in the United States of America require that the required supplementary information listed in the table of contents be presented to supplement the basic financial statements. Such information is the responsibility of management and, 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 GAAS, 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 appropriate evidence to express an opinion or provide any assurance. \r\nSupplementary Information \r\nOur audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the School District's basic financial statements. The accompanying supplementary information, as listed in the table of contents, is presented for the purposes of additional analysis and is not a required part of the basic financial statements. The Schedule of Expenditures of Federal Awards is presented for purposes of additional analysis as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is also not a required part of the basic financial statements. \r\nThe supplementary information is the responsibility of management and was derived from and relates 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 basic financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the information is fairly stated, in all material respects, in relation to the basic financial statements as a whole. \r\nOther Reporting Required by Government Auditing Standards \r\nIn accordance with Government Auditing Standards, we have also issued our report dated March 8, 2023 on our consideration of the School District'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 School District'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 the School District's internal control over financial reporting and compliance. \r\n \r\n A copy of this report has been filed as a permanent record and made available to the press of the State, as provided for by Official Code of Georgia Annotated section 50-6-24. Respectfully submitted, \r\nGreg S. Griffin State Auditor \r\nMarch 8, 2023 \r\n \r\n Lanier County Board of Education \r\n \r\n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF NET POSITION JUNE 30, 2022 \r\nASSETS Cash and Cash Equivalents Accounts Receivable, Net \r\nTaxes State Government Federal Government Inventories Prepaid Items Capital Assets, Non-Depreciable Capital Assets, Depreciable (Net of Accumulated Depreciation) \r\nTotal Assets \r\nDEFERRED OUTFLOWS OF RESOURCES Related to Defined Benefit Pension Plan Related to OPEB Plan \r\nTotal Deferred Outflows of Resources \r\nLIABILITIES Salaries and Benefits Payable Contracts Payable Retainages Payable Net Pension Liability Net OPEB Liability \r\nTotal Liabilities \r\nDEFERRED INFLOWS OF RESOURCES Related to Defined Benefit Pension Plan Related to OPEB Plan \r\nTotal Deferred Inflows of Resources \r\nNET POSITION Net Investment in Capital Assets Restricted for \r\nContinuation of Federal Programs Capital Projects Unrestricted (Deficit) \r\nTotal Net Position \r\n \r\nEXHIBIT \"A\" \r\n \r\nGOVERNMENTAL ACTIVITIES \r\n \r\n$ \r\n \r\n8,117,946.41 \r\n \r\n244,282.61 1,561,762.13 1,881,007.81 \r\n29,439.87 250,000.00 5,139,808.44 19,372,971.57 36,597,218.84 \r\n \r\n4,726,323.00 2,424,162.00 7,150,485.00 \r\n \r\n1,976,248.70 797,645.53 315,327.69 \r\n6,469,099.00 10,885,523.00 20,443,843.92 \r\n \r\n10,136,851.00 6,470,682.00 16,607,533.00 \r\n \r\n23,399,806.79 \r\n \r\n727,865.14 3,241,871.75 (20,673,216.76) \r\n \r\n$ \r\n \r\n6,696,326.92 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n \r\n- 1 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF ACTIVITIES \r\nFOR THE YEAR ENDED JUNE 30, 2022 \r\n \r\nEXHIBIT \"B\" \r\n \r\nGOVERNMENTAL ACTIVITIES Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Operations of Non-Instructional Services Enterprise Operations Food Services \r\nTotal Governmental Activities \r\n \r\nEXPENSES \r\n \r\nCHARGES FOR SERVICES \r\n \r\nPROGRAM REVENUES OPERATING GRANTS AND \r\nCONTRIBUTIONS \r\n \r\nCAPITAL GRANTS AND CONTRIBUTIONS \r\n \r\nNET (EXPENSES) REVENUES \r\nAND CHANGES IN NET POSITION \r\n \r\n$ \r\n \r\n12,020,500.56 $ \r\n \r\n84,073.04 $ \r\n \r\n15,346,170.41 $ \r\n \r\n1,076,244.30 682,180.62 209,726.86 511,035.86 \r\n1,069,799.82 243,115.27 \r\n1,900,266.89 1,053,766.59 \r\n16,100.96 184,520.84 \r\n \r\n- \r\n \r\n168,893.54 \r\n \r\n- \r\n \r\n550,003.88 \r\n \r\n- \r\n \r\n234,716.73 \r\n \r\n- \r\n \r\n534,707.94 \r\n \r\n- \r\n \r\n657,886.72 \r\n \r\n- \r\n \r\n2,956.17 \r\n \r\n- \r\n \r\n539,080.18 \r\n \r\n- \r\n \r\n278,520.03 \r\n \r\n- \r\n \r\n4,514.90 \r\n \r\n- \r\n \r\n12,357.15 \r\n \r\n7,703.08 1,311,915.23 \r\n \r\n23,036.70 \r\n \r\n32.93 1,518,950.04 \r\n \r\n$ \r\n \r\n20,286,876.88 $ \r\n \r\n107,109.74 $ \r\n \r\n19,848,790.62 $ \r\n \r\nGeneral Revenues Taxes Property Taxes For Maintenance and Operations Railroad Cars Sales Taxes For Capital Projects Other Sales Tax Grants and Contributions not Restricted to Specific Programs Investment Earnings Miscellaneous Total General Revenues \r\n \r\nChange in Net Position \r\n \r\nNet Position - Beginning of Year \r\n \r\nNet Position - End of Year \r\n \r\n140,160.29 $ \r\n4,859.10 - \r\n1,251.29 11,319.11 \r\n8,770.14 77,220.00 \r\n- \r\n9,050.64 \r\n252,630.57 \r\n \r\n3,549,903.18 \r\n(902,491.66) (132,176.74) \r\n24,989.87 24,923.37 (400,593.99) (240,159.10) (1,352,416.57) (698,026.56) (11,586.06) (172,163.69) \r\n(7,670.15) 239,122.15 \r\n(78,345.95) \r\n \r\n3,523,950.20 7,268.97 \r\n \r\n755,836.18 184,112.29 3,857,520.00 \r\n15,235.18 943,690.90 9,287,613.72 \r\n \r\n9,209,267.77 \r\n \r\n(2,512,940.85) \r\n \r\n$ \r\n \r\n6,696,326.92 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n \r\n- 2 - \r\n \r\n ASSETS Cash and Cash Equivalents Accounts Receivable, Net \r\nTaxes State Government Federal Government Inventories Prepaid Items \r\nTotal Assets \r\nLIABILITIES Salaries and Benefits Payable Contracts Payable Retainages Payable \r\nTotal Liabilities \r\nDEFERRED INFLOWS OF RESOURCES Unavailable Revenue - Property Taxes \r\nFUND BALANCES Nonspendable Restricted Assigned Unassigned \r\nTotal Fund Balances \r\nTotal Liabilities, Deferred Inflows of Resources, and Fund Balances \r\n \r\nLANIER COUNTY BOARD OF EDUCATION BALANCE SHEET \r\nGOVERNMENTAL FUNDS JUNE 30, 2022 \r\n \r\nEXHIBIT \"C\" \r\n \r\nGENERAL FUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\n$ \r\n \r\n4,835,656.44 $ \r\n \r\n175,530.98 1,561,762.13 1,881,007.81 \r\n29,439.87 250,000.00 \r\n \r\n$ \r\n \r\n8,733,397.23 $ \r\n \r\n3,282,289.97 $ \r\n68,751.63 - \r\n3,351,041.60 $ \r\n \r\n$ \r\n \r\n1,976,248.70 $ \r\n \r\n797,645.53 \r\n \r\n315,327.69 \r\n \r\n3,089,221.92 \r\n \r\n- $ - \r\n \r\n102,424.02 \r\n \r\n- \r\n \r\n279,439.87 698,425.27 297,211.67 4,266,674.48 5,541,751.29 \r\n \r\n2,128,898.53 1,222,143.07 \r\n3,351,041.60 \r\n \r\n$ \r\n \r\n8,733,397.23 $ \r\n \r\n3,351,041.60 $ \r\n \r\nTOTAL \r\n8,117,946.41 \r\n244,282.61 1,561,762.13 1,881,007.81 \r\n29,439.87 250,000.00 \r\n12,084,438.83 \r\n1,976,248.70 797,645.53 315,327.69 \r\n3,089,221.92 \r\n102,424.02 \r\n279,439.87 2,827,323.80 1,519,354.74 4,266,674.48 8,892,792.89 \r\n12,084,438.83 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n \r\n- 3 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET \r\nTO THE STATEMENT OF NET POSITION JUNE 30, 2022 \r\n \r\nEXHIBIT \"D\" \r\n \r\nTotal fund balances - governmental funds (Exhibit \"C\") \r\nAmounts reported for governmental activities in the Statement of Net Position are different because: \r\nCapital assets used in governmental activities are not financial resources and therefore are not reported in the funds. Land Construction in progress Buildings and improvements Equipment Land improvements Accumulated depreciation \r\nSome liabilities are not due and payable in the current period and, therefore, are not reported in the funds. Net pension liability Net OPEB liability \r\nDeferred outflows and inflows of resources related to pensions/OPEB are applicable to future periods and, therefore, are not reported in the funds. Related to pensions Related to OPEB \r\nTaxes that are not available to pay for current period expenditures are deferred in the funds. \r\nNet position of governmental activities (Exhibit \"A\") \r\n \r\n$ \r\n \r\n8,892,792.89 \r\n \r\n$ \r\n \r\n1,509,277.13 \r\n \r\n3,630,531.31 \r\n \r\n26,453,247.65 \r\n \r\n2,734,191.88 \r\n \r\n950,856.41 \r\n \r\n(10,765,324.37) \r\n \r\n24,512,780.01 \r\n \r\n$ \r\n \r\n(6,469,099.00) \r\n \r\n(10,885,523.00) \r\n \r\n(17,354,622.00) \r\n \r\n$ \r\n \r\n(5,410,528.00) \r\n \r\n(4,046,520.00) \r\n \r\n(9,457,048.00) \r\n \r\n102,424.02 \r\n \r\n$ \r\n \r\n6,696,326.92 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n \r\n- 4 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nGOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2022 \r\n \r\nEXHIBIT \"E\" \r\n \r\nREVENUES Property Taxes Sales Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous Total Revenues \r\nEXPENDITURES Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Enterprise Operations Food Services Operation Capital Outlay Total Expenditures \r\nRevenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) Transfers In Transfers Out Total Other Financing Sources (Uses) \r\nNet Change in Fund Balances \r\nFund Balances - Beginning \r\nFund Balances - Ending \r\n \r\nGENERAL FUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n3,620,405.41 $ \r\n \r\n184,112.29 \r\n \r\n16,149,668.02 \r\n \r\n7,757,158.43 \r\n \r\n107,109.74 \r\n \r\n13,610.42 \r\n \r\n633,690.90 \r\n \r\n28,465,755.21 \r\n \r\n- $ 755,836.18 621,464.10 \r\n1,624.76 1,378,925.04 \r\n \r\n3,620,405.41 939,948.47 \r\n16,771,132.12 7,757,158.43 107,109.74 15,235.18 633,690.90 29,844,680.25 \r\n \r\n13,271,644.45 \r\n1,205,080.34 782,291.47 251,031.01 556,110.03 \r\n1,237,617.70 264,836.42 \r\n1,911,520.98 971,184.06 16,100.96 184,520.84 7,703.08 \r\n1,352,877.11 3,153,276.91 25,165,795.36 3,299,959.85 \r\n \r\n(2,000,000.00) (2,000,000.00) \r\n \r\n1,299,959.85 \r\n \r\n4,241,791.44 \r\n \r\n$ \r\n \r\n5,541,751.29 $ \r\n \r\n- \r\n777,856.93 777,856.93 601,068.11 \r\n \r\n13,271,644.45 \r\n1,205,080.34 782,291.47 251,031.01 556,110.03 \r\n1,237,617.70 264,836.42 \r\n1,911,520.98 971,184.06 16,100.96 184,520.84 7,703.08 \r\n1,352,877.11 3,931,133.84 25,943,652.29 3,901,027.96 \r\n \r\n2,000,000.00 - \r\n2,000,000.00 \r\n2,601,068.11 \r\n749,973.49 \r\n3,351,041.60 $ \r\n \r\n2,000,000.00 (2,000,000.00) \r\n- \r\n3,901,027.96 \r\n4,991,764.93 \r\n8,892,792.89 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n \r\n- 5 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF \r\nREVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES JUNE 30, 2022 \r\n \r\nEXHIBIT \"F\" \r\n \r\nNet change in fund balances total governmental funds (Exhibit \"E\") \r\nAmounts reported for governmental activities in the Statement of Activities are different because: \r\nGovernmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of capital assets is allocated over their estimated useful lives as depreciation expense. Capital outlay Depreciation expense \r\nThe net effect of various miscellaneous transactions involving capital assets (i.e., sales, trade-ins, donations, and disposals) is to increase net position. \r\nRevenues reported in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds. Property taxes Federal Revenue - ESSER Capital grants and contributions - GSFIC \r\nDistrict pension/OPEB contributions are reported as expenditures in the governmental funds when made. However, they are reported as deferred outflows of resources in the Statement of Net Position because the reported net pension/OPEB liability is measured a year before the District's report date. Pension/OPEB expense, which is the change in the net pension/OPEB liability adjusted for changes in deferred outflows and inflows of resources related to pensions/OPEB, is reported in the Statement of Activities. Pension expense OPEB expense \r\nChange in net position of governmental activities (Exhibit \"B\") \r\n \r\n$ \r\n \r\n3,901,027.96 \r\n \r\n$ \r\n \r\n3,981,932.31 \r\n \r\n(639,641.13) \r\n \r\n$ \r\n \r\n(89,186.24) \r\n \r\n(73,737.53) \r\n \r\n(462,920.40) \r\n \r\n3,342,291.18 81,148.80 \r\n(625,844.17) \r\n \r\n$ \r\n \r\n1,974,581.00 \r\n \r\n536,063.00 \r\n \r\n2,510,644.00 \r\n \r\n$ \r\n \r\n9,209,267.77 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n \r\n- 6 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nNOTE 1: DESCRIPTION OF SCHOOL DISTRICT AND REPORTING ENTITY \r\nReporting Entity \r\nThe Lanier County Board of Education (School District) was established under the laws of the State of Georgia and operates under the guidance of a board elected by the voters and a Superintendent appointed by the Board. The School District is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the School District is a primary government and consists of all the organizations that compose its legal entity. \r\nNOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nThe accompanying financial statements of the School District have been prepared in conformity with generally accepted accounting principles (GAAP) as prescribed by the Governmental Accounting Standards Board (GASB). GASB is the accepted standard-setting body for governmental accounting and financial reporting principles. The most significant of the School District's accounting policies are described below. \r\nBasis of Presentation \r\nThe School District's basic financial statements are collectively comprised of the government-wide financial statements, fund financial statements and notes to the basic financial statements. The government-wide statements focus on the School District as a whole, while the fund financial statements focus on major funds. Each presentation provides valuable information that can be analyzed and compared between years and between governments to enhance the information's usefulness. \r\nGovernment-Wide Statements: \r\nThe Statement of Net Position and the Statement of Activities display information about the financial activities of the overall School District. Eliminations have been made to minimize the double counting of internal activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange transactions. \r\nThe Statement of Net Position presents the School District's assets, deferred outflows of resources, deferred inflows of resources and liabilities, with the difference reported as net position. Net position is reported in three categories as follows: \r\n1. Net investment in capital assets consists of the School District's total investment in capital assets, net of accumulated depreciation, and reduced by outstanding debt obligations related to those capital assets. To the extent debt has been incurred but not yet expended for capital assets, such amounts are not included as a component of net investment in capital assets. \r\n2. Restricted net position consists of resources for which the School District is legally or contractually obligated to spend in accordance with restrictions imposed by external third parties or imposed by law through constitutional provisions or enabling legislation. \r\n3. Unrestricted net position consists of resources not meeting the definition of the two preceding categories. Unrestricted net position often has constraints on resources imposed by management which can be removed or modified. \r\n \r\n- 7 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nThe Statement of Activities presents a comparison between direct expenses and program revenues for each function of the School District's governmental activities. \r\nDirect expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Indirect expenses (expenses of the School District related to the administration and support of the School District's programs, such as office and maintenance personnel and accounting) are not allocated to programs. \r\nProgram revenues include (a) charges paid by the recipients of goods or services offered by the programs and (b) grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues. \r\nFund Financial Statements \r\nThe fund financial statements provide information about the School District's funds. Eliminations have been made to minimize the double counting of internal activities. The emphasis of fund financial statements is on major governmental funds, each displayed in a separate column. \r\nThe School District reports the following major governmental funds: \r\n The general fund is the School District's primary operating fund. It accounts for and reports all financial resources not accounted for and reported in another fund. \r\n \r\n The capital projects fund accounts for and reports financial resources including Education Special Purpose Local Option Sales Tax (ESPLOST) and grants from the Georgia State Financing and Investment Commission that are restricted, committed or assigned for capital outlay expenditures, including the acquisition or construction of capital facilities and other capital assets. \r\nBasis of Accounting \r\nThe basis of accounting determines when transactions are reported on the financial statements. The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place. Nonexchange transactions, in which the School District gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, sales taxes, grants and donations. On an accrual basis, revenue from property taxes is recognized in the fiscal year for which the taxes are levied. Revenue from sales taxes is recognized in the fiscal year in which the underlying transaction (sale) takes place. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. \r\nThe School District uses funds to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. \r\nGovernmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available. The School District considers certain revenues reported in the governmental funds to be \r\n- 8 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\navailable if they are collected within 60 days after year-end. The School District considers all intergovernmental revenues to be available if they are collected within 120 days after year-end. Property taxes, sales taxes and interest are considered to be susceptible to accrual. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on general long-term debt, which are recognized as expenditures to the extent they have matured. Capital asset acquisitions are reported as expenditures in governmental funds. \r\nThe School District funds certain programs by a combination of specific cost-reimbursement grants, categorical grants, and general revenues. Thus, when program costs are incurred, there are both restricted and unrestricted resources available to finance the program. It is the School District's policy to first apply grant resources to such programs, followed by cost-reimbursement grants, then general revenues. \r\nNew Accounting Pronouncements \r\nIn fiscal year 2022, the School District adopted Governmental Accounting Standards Board (GASB) Statement No. 87, Leases. The primary objective of this statement is to better meet the information needs of financial statement users by improving accounting and financial reporting for leases by governments. This Statement increases the usefulness of government's financial statements by requiring recognition of certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. It establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. The adoption of this statement did not have an impact on the School District's financial statements. \r\nCash and Cash Equivalents \r\nCash and cash equivalents consist of cash on hand, demand deposits, investments in the State of Georgia local government investment pool (Georgia Fund 1) and short-term investments with original maturities of three months or less from the date of acquisition in authorized financial institutions. Official Code of Georgia Annotated (O.C.G.A.) 45-8-14 authorizes the School District to deposit its funds in one or more solvent banks, insured Federal savings and loan associations or insured chartered building and loan associations. \r\nReceivables \r\nReceivables consist of amounts due from property and sales taxes, grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the basic financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \r\nInventories \r\nFood Inventories \r\nOn the basic financial statements, inventories of donated food commodities used in the preparation of meals are reported at their Federally assigned value and purchased foods inventories are reported at cost (calculated on the first-in, first-out basis). The School District uses the consumption method to account for inventories whereby donated food commodities are recorded as an asset and as revenue \r\n- 9 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nwhen received, and expenses/expenditures are recorded as the inventory items are used. Purchased foods are recorded as an asset when purchased and expenses/expenditures are recorded as the inventory items are used. \r\n \r\nPrepaid Items \r\n \r\nPayments made to vendors for services that will benefit future accounting periods are recorded as prepaid items, in both the government-wide and governmental fund financial statements. \r\n \r\nCapital Assets \r\n \r\nOn the government-wide financial statements, capital assets are recorded at cost where historical records are available and at estimated historical cost based on appraisals or deflated current replacement cost where no historical records exist. Donated capital assets are recorded at the acquisition value on the date donated. The cost of normal maintenance and repairs that do not add to the value of assets or materially extend the useful lives of the assets is not capitalized. The School District does not capitalize book collections or works of art. \r\nCapital acquisition and construction are recorded as expenditures in the governmental fund financial statements at the time of purchase (including ancillary charges), and the related assets are reported as capital assets in the governmental activities column in the government-wide financial statements. \r\nDepreciation is computed using the straight-line for all assets, except land, and is used to allocate the actual or estimated historical cost of capital assets over estimated useful lives. \r\nCapitalization thresholds and estimated useful lives of capital assets reported in the government-wide statements are as follows: \r\n \r\nCapitalization Policy \r\n \r\nEstimated Useful Life \r\n \r\nLand Land Improvements Buildings and Improvements Equipment Intangible Assets \r\n \r\nAny Amount \r\n \r\n$ 100,000.00 \r\n \r\n$ 100,000.00 \r\n \r\n$ \r\n \r\n25,000.00 \r\n \r\n$ 100,000.00 \r\n \r\nN/A 15 years \r\n25 to 60 years 5 to 25 years \r\n10 to 20 years \r\n \r\nDeferred Outflows/Inflows of Resources \r\n \r\nIn addition to assets, the statement of financial position 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 (expense/expenditure) until then. \r\nIn addition to liabilities, the statement of financial position 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 (revenue) until that time. \r\n \r\n- 10 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nPensions \r\nFor 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 pension plan's fiduciary net position and additions to/deductions from the plan's fiduciary net position have been determined on the same basis as they are reported by the plan. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. \r\nPost-Employment Benefits Other Than Pensions (OPEB) \r\nFor purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the Georgia School Employees Post-Employment Benefit Fund (School OPEB Fund) and additions to/deductions from School OPEB Fund fiduciary net position have been determined on the same basis as they are reported by School OPEB Fund. For this purpose, benefit payments are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. \r\nFund Balances \r\nFund balance for governmental funds is reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. \r\nThe School District's fund balances are classified as follows: \r\nNonspendable consists of resources that cannot be spent either because they are in a nonspendable form or because they are legally or contractually required to be maintained intact. \r\nRestricted consists of resources that can be used only for specific purposes pursuant to constraints either (1) externally imposed by creditors, grantors, contributors, or laws and regulations of other governments or (2) imposed by law through constitutional provisions or enabling legislation. \r\nCommitted consists of resources that can be used only for specific purposes pursuant to constraints imposed by formal action of the Board. The Board is the School District's highest level of decisionmaking 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. Committed fund balance also should incorporate contractual obligations to the extent that existing resources in the fund have been specifically committed for use in satisfying those contractual requirements. \r\nAssigned consists of resources constrained by the School District's intent to be used for specific purposes but are neither restricted nor committed. The intent should be expressed by (1) the Board or (2) the budget or finance committee, or the Superintendent, or designee, to assign amounts to be used for specific purposes. \r\nUnassigned 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. \r\n \r\n- 11 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nUse of Estimates \r\n \r\nThe preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates. \r\n \r\nProperty Taxes \r\n \r\nThe Lanier County Board of Commissioners adopted the property tax levy for the 2021 tax digest year (calendar year) on October 12, 2021 (levy date) based on property values as of January 1, 2021. Taxes were due on January 11, 2022 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2021 tax digest are reported as revenue in the governmental funds for fiscal year 2022. The Lanier County Tax Commissioner bills and collects the property taxes for the School District, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the School District. Property tax revenues, at the fund reporting level, during the fiscal year ended June 30, 2022, for maintenance and operations amounted to $3,043,382.53. \r\nThe tax millage rate levied for the 2021 tax digest year (calendar year) for the School District was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n16.73 mills \r\n \r\nAdditionally, Title Ad Valorem Tax revenues, at the fund reporting level, amounted to $569,753.91 during fiscal year ended June 30, 2022. \r\nSales Taxes \r\nEducation Special Purpose Local Option Sales Tax (ESPLOST), at the fund reporting level, during the year amounted to $755,836.18 and is to be used for capital outlay for educational purposes or debt service. This sales tax was authorized by local referendum and the sales tax must be re-authorized at least every five years. \r\nNOTE 3: BUDGETARY DATA \r\nThe budget is a complete financial plan for the School District's fiscal year and is based upon careful estimates of expenditures together with probable funding sources. The budget is legally adopted each year for the general fund. There is no statutory prohibition regarding over expenditure of the budget at any level. The budget for all governmental funds, except the various school activity (principal) accounts, is prepared and adopted by fund and function. The legal level of budgetary control was established by the Board at the aggregate fund level. The budget for the general fund was prepared in accordance with accounting principles generally accepted in the United States of America. \r\nThe budgetary process begins with the School District's administration presenting an initial budget for the Board's review. The administration makes revisions as necessary based on the Board's guidelines, and a tentative budget is approved. 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, as well as the School District's website. At the next regularly scheduled meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final budget. The \r\n \r\n- 12 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\napproved budget is then submitted, in accordance with provisions of O.C.G.A. 20-2-167(c), to the Georgia Department of Education. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. \r\nSee the General Fund Schedule of Revenues, Expenditures and Changes in Fund Balances  Budget to Actual in the Supplementary Information Section for a detail of any over/under expenditures during the fiscal year under review. \r\nNOTE 4: DEPOSITS \r\nCollateralization of Deposits \r\nO.C.G.A.  45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value of securities pledged shall be equal to not less than 110% of the public funds being secured after the deduction of the amount of deposit insurance. If a depository elects the pooled method (O.C.G.A.  45-8-13.1) the aggregate of the market value of the securities pledged to secure a pool of public funds shall be not less than 110% of the daily pool balance. At June 30, 2022, $40,705.35 of deposits were not secured by surety bond, insurance or collateral as specified above. \r\nAcceptable security for deposits consists of any one of or any combination of the following: \r\n(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \r\n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \r\n(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, \r\n(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia, \r\n(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and \r\n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by or securities guaranteed by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \r\n \r\n- 13 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nCategorization of Deposits \r\n \r\nCustodial credit risk is the risk that in the event of a bank failure, the School District's deposits may not be returned to it. The School District does not have a deposit policy for custodial credit risk. At June 30, 2022, the School District had deposits with a carrying amount of $8,117,946.41, and a bank balance of $9,237,493.02. The bank balances insured by Federal depository insurance were $500,000.00 and the bank balances collateralized with securities held by the pledging financial institution's trust department or agent in the School District's name were $8,696,787.67. \r\nAt June 30, 2022 $40,705.35 of the School District's bank balance was exposed to custodial credit risk as follows: \r\n \r\nUninsured and Uncollateralized \r\n \r\n$ \r\n \r\n40,705.35 \r\n \r\nUninsured with collateral held by the pledging \r\n \r\nfinancial institution \r\n \r\n- \r\n \r\nUninsured with collateral held by the pledging \r\n \r\nfinancial institution's trust department or \r\n \r\nagent but not in the School District's name \r\n \r\n- \r\n \r\nTotal \r\n \r\n$ \r\n \r\n40,705.35 \r\n \r\n- 14 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nNOTE 5: CAPITAL ASSETS \r\n \r\nThe following is a summary of changes in the capital assets for governmental activities during the fiscal year: \r\n \r\nBalances July 1, 2021 \r\n \r\nIncreases \r\n \r\nDecreases \r\n \r\nAdjustments \r\n \r\nBalances June 30, 2022 \r\n \r\nGovernmental Activities \r\n \r\nCapital Assets, \r\n \r\nNot Being Depreciated: \r\n \r\nLand \r\n \r\n$ 1,199,277.13 $ 310,000.00 $ \r\n \r\nConstruction in Progress \r\n \r\n- \r\n \r\n3,630,531.31 \r\n \r\n- $ - \r\n \r\n- $ 1,509,277.13 \r\n \r\n- \r\n \r\n3,630,531.31 \r\n \r\nTotal Capital Assets \r\n \r\nNot Being Depreciated \r\n \r\n1,199,277.13 3,940,531.31 \r\n \r\n- \r\n \r\n- \r\n \r\n5,139,808.44 \r\n \r\nCapital Assets, Being Depreciated Buildings and Improvements Equipment Land Improvements \r\nLess Accumulated Depreciation for: Buildings and Improvements Equipment Land Improvements \r\n \r\n26,453,247.65 2,888,009.88 950,856.41 \r\n7,681,498.24 1,934,663.47 \r\n785,889.33 \r\n \r\n41,401.00 \r\n- \r\n \r\n195,219.00 \r\n- \r\n \r\n- \r\n \r\n26,453,247.65 \r\n \r\n- \r\n \r\n2,734,191.88 \r\n \r\n- \r\n \r\n950,856.41 \r\n \r\n467,847.95 153,647.16 \r\n18,146.02 \r\n \r\n195,219.00 \r\n- \r\n \r\n(81,148.80) - \r\n \r\n8,068,197.39 1,893,091.63 \r\n804,035.35 \r\n \r\nTotal Capital Assets, Being Depreciated, Net \r\n \r\n19,890,062.90 \r\n \r\n(598,240.13) \r\n \r\n- \r\n \r\n81,148.80 19,372,971.57 \r\n \r\nGovernmental Activities Capital Assets - Net \r\n \r\n$ 21,089,340.03 $ 3,342,291.18 $ \r\n \r\n- $ 81,148.80 $ 24,512,780.01 \r\n \r\nCurrent year depreciation expense by function is as follows: \r\n \r\nInstruction \r\n \r\nSupport Services \r\n \r\nPupil Services \r\n \r\n$ \r\n \r\n17,718.88 \r\n \r\nGeneral Administration \r\n \r\n4,562.88 \r\n \r\nSchool Administration \r\n \r\n41,275.55 \r\n \r\nMaintenance and Operation of Plant \r\n \r\n31,980.65 \r\n \r\nStudent Transportation Services \r\n \r\n128,490.10 \r\n \r\nFood Services \r\n \r\n$ 382,609.57 \r\n224,028.06 33,003.50 \r\n \r\n$ 639,641.13 \r\n \r\n- 15 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nNOTE 6: INTERFUND TRANSFERS \r\n \r\nInterfund transfers for the year ended June 30, 2022, consisted of the following: \r\n \r\nTransfers to \r\n \r\nTransfers From General Fund \r\n \r\nCapital Projects Fund \r\n \r\n$ 2,000,000.00 \r\n \r\nTransfers are used to move property tax revenues collected by the general fund to the capital projects fund as required match or as a supplemental funding source for capital construction projects. \r\n \r\nNOTE 7: LONG-TERM LIABILITIES \r\n \r\nDuring the current year, the voters of Lanier County approved an ESPLOST that authorized the issuance of $8,500,000.00 in general obligation bonds. \r\nOf the total amount originally authorized, $8,500,000.00 was unissued as of June 30, 2022. \r\n \r\nNOTE 8: RISK MANAGEMENT \r\n \r\nInsurance \r\n \r\nCommercial Insurance \r\n \r\nThe School District is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors or omissions; job related illness or injuries to employees; and natural disasters. Except as described below, the School District carries commercial insurance for these risks. Settled claims resulting from these insured risks have not exceed commercial insurance coverage in any of the past three fiscal years. \r\n \r\nWorkers' Compensation \r\n \r\nGeorgia Education Workers' Compensation Trust \r\n \r\nThe School District participates in the Georgia Education Workers' Compensation Trust (the Trust), a public entity risk pool organized on December 1, 1991, to develop, implement and administer a program of workers' compensation self-insurance for its member organizations. The School District pays an annual premium to the Trust for its general workers' compensation insurance coverage. Specific excess of loss insurance coverage is provided through an agreement by the Trust with the Safety National Casualty Company to provide coverage for potential losses sustained by the Trust in excess of $1.0 million loss per occurrence, up to the statutory limit. Employers' Liability insurance coverage is also provided with limits of $2.0 million. The Trust covers the first $1.0 million of each Employers Liability claim with Safety National providing additional Employers Liability limits up to a $2.0 million per occurrence maximum. Safety National Casualty Company also provides $2.0 million in aggregate coverage to the Trust, attaching at 107% of the loss fund and based on the Fund's annual normal premium. \r\n \r\n- 16 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nUnemployment Compensation \r\n \r\nThe School District is self-insured with regard to unemployment compensation claims. The School District accounts for claims within the general fund with expenses/expenditures and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. \r\nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \r\n \r\nBeginning of Year Liability \r\n \r\nClaims and Changes in Estimates \r\n \r\nClaims Paid \r\n \r\nEnd of Year Liability \r\n \r\n2021 $ \r\n \r\n- $ \r\n \r\n- $ \r\n \r\n- $ \r\n \r\n- \r\n \r\n2022 $ \r\n \r\n- $ \r\n \r\n6,988.09 $ \r\n \r\n6,988.09 $ \r\n \r\n- \r\n \r\nSurety Bond \r\n \r\nThe School District purchased surety bonds to provide additional insurance coverage as follows: \r\n \r\nPosition Covered \r\n \r\nAmount \r\n \r\nSuperintendent Principals Bookkeepers Nutrition Managers Nutrition Cashiers \r\n \r\n$ \r\n \r\n100,000.00 \r\n \r\n$ \r\n \r\n5,000.00 \r\n \r\n$ \r\n \r\n4,000.00 \r\n \r\n$ \r\n \r\n3,000.00 \r\n \r\n$ \r\n \r\n2,000.00 \r\n \r\nNOTE 9: FUND BALANCE CLASSIFICATION DETAILS \r\n \r\nThe School District's financial statements include the following amounts presented in the aggregate at June 30, 2022: \r\n \r\nNonspendable \r\n \r\nInventories \r\n \r\n$ \r\n \r\n29,439.87 \r\n \r\nPrepaid Assets \r\n \r\n250,000.00 $ \r\n \r\n279,439.87 \r\n \r\nRestricted \r\n \r\nContinuation of Federal Programs $ \r\n \r\n698,425.27 \r\n \r\nCapital Projects \r\n \r\n2,128,898.53 \r\n \r\n2,827,323.80 \r\n \r\nAssigned \r\n \r\nLocal Capital Outlay Projects \r\n \r\n$ 1,222,143.07 \r\n \r\nSchool Activity Accounts \r\n \r\n297,211.67 \r\n \r\n1,519,354.74 \r\n \r\nUnassigned \r\n \r\n4,266,674.48 \r\n \r\nFund Balance, June 30, 2022 \r\n \r\n$ 8,892,792.89 \r\n \r\nWhen multiple categories of fund balance are available for an expenditure, the School District will start with the most restricted category and spend those funds first before moving down to the next category with available funds. \r\n \r\n- 17 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nNOTE 10: BROADBAND SPECTRUM LEASE \r\n \r\nEffective July 29, 2011 and August 15, 2012, the School District entered into lease agreements which were 10 and 11 year lease agreements with Spectrum Holdings, Inc. for the lease of excess spectrum capacity on Education Broadband Service licenses currently held by School District. These licenses were granted to the School District by the Federal Communications Commission (FCC). The lease agreements with Spectrum Holdings, Inc. include two additional renewal terms of 10 years each that become effective automatically conditioned only upon the lessee's desire to not extend the agreement and the FCC approval of the renewal of the agreements. Affective August 7, 2020, Spectrum Holdings, Inc. assigned all of its right, title, and interest of the leases to SoniqWave Networks LLC. The lease agreements require monthly lease payments over the term of the lease, of which $32,933.50 was recognized during fiscal year 2022 as a general revenue on the Statement of Activities. \r\nNOTE 11: SIGNIFICANT COMMITMENTS \r\n \r\nCommitments Under Construction Contracts \r\n \r\nThe following is an analysis of significant outstanding construction or renovation contracts executed by the School District as of June 30, 2022: \r\n \r\nProject \r\n \r\nUnearned Executed Contracts (1) \r\n \r\nPayments through June 30, 2022 (2) \r\n \r\nElementary School New Wing Addition \r\n \r\n$ \r\n \r\n6,979,470.34 $ 3,559,897.66 \r\n \r\n(1) The amounts described are not reflected in the basic financial statements. (2) Payments include contracts and retainages payable at year end. \r\n \r\nNOTE 12: SIGNIFICANT CONTINGENT LIABILITIES \r\nFederal Grants \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any costs which are disallowed under grant terms. Any disallowances resulting from the grantor audit may become a liability of the School District. However, the School District believes that such disallowances, if any, will be immaterial to its overall financial position. \r\nNOTE 13: OTHER POST-EMPLOYMENT BENEFITS (OPEB) \r\nGeorgia School Personnel Post-Employment Health Benefit Fund \r\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 multiple-employer defined benefit post-employment 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. \r\n \r\n- 18 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\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 administrative expenses of the fund. By law, no other use of the assets of the School OPEB Fund is permitted. \r\nContributions: As established by the Board, the School OPEB Fund is substantially funded on a payas-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 $368,779.00 for the year ended June 30, 2022. Active employees are not required to contribute to the School OPEB Fund. \r\nOPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB \r\nAt June 30, 2022, the School District reported a liability of $10,885,523.00 for its proportionate share of the net OPEB liability. The net OPEB liability was measured as of June 30, 2021. The total OPEB liability used to calculate the net OPEB liability was based on an actuarial valuation as of June 30, 2020. An expected total OPEB liability as of June 30, 2021 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, 2021. At June 30, 2021, the School District's proportion was 0.100505%, which was a decrease of 0.001350% from its proportion measured as of June 30, 2020. \r\n \r\n- 19 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nFor the year ended June 30, 2022, the School District recognized OPEB expense of ($167,284.00). At June 30, 2022, the School District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: \r\n \r\nOPEB Deferred Outflows of Resources \r\n \r\nDeferred Inflows of Resources \r\n \r\nDifferences between expected and actual \r\n \r\nexperience \r\n \r\n$ \r\n \r\n- $ 4,970,295.00 \r\n \r\nChanges of assumptions \r\n \r\n1,993,307.00 \r\n \r\n888,252.00 \r\n \r\nNet difference between projected and actual earnings on OPEB plan investments \r\n \r\n- \r\n \r\n17,261.00 \r\n \r\nChanges in proportion and differences between School District contributions and proportionate share of contributions \r\n \r\n62,076.00 \r\n \r\n594,874.00 \r\n \r\nSchool District contributions subsequent to \r\n \r\nthe measurement date \r\n \r\n368,779.00 \r\n \r\n- \r\n \r\nTotal \r\n \r\n$ 2,424,162.00 $ 6,470,682.00 \r\n \r\nSchool District contributions subsequent to the measurement date 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, 2023. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: \r\n \r\nYear Ended June 30: \r\n \r\nOPEB \r\n \r\n2023 2024 2025 2026 2027 Thereafter \r\n \r\n$ (1,106,919.00) $ (1,035,764.00) $ (815,231.00) $ (598,160.00) $ (668,504.00) $ (190,721.00) \r\n \r\n- 20 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nActuarial assumptions: The total OPEB liability as of June 30, 2021 was determined by an actuarial valuation as of June 30, 2020 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, 2021: \r\n \r\nOPEB: \r\n \r\nInflation \r\n \r\n2.50% \r\n \r\nSalary increases \r\n \r\n3.00%  8.75%, including inflation \r\n \r\nLong-term expected rate of return Healthcare cost trend rate \r\n \r\n7.00%, compounded annually, net of investment expense, and including inflation \r\n \r\nPre-Medicare Eligible \r\n \r\n6.75% \r\n \r\nMedicare Eligible \r\n \r\n5.13% \r\n \r\nUltimate trend rate \r\n \r\nPre-Medicare Eligible \r\n \r\n4.50% \r\n \r\nMedicare Eligible \r\n \r\n4.50% \r\n \r\nYear of Ultimate trend rate \r\n \r\nPre-Medicare Eligible \r\n \r\n2029 \r\n \r\nMedicare Eligible \r\n \r\n2023 \r\n \r\nMortality rates were based on the Pub-2010 Mortality Tables for Males or Females, as appropriate, as follows: \r\n \r\n For TRS members: Post-retirement mortality rates for service retirements and beneficiaries were based on the Pub-2010 Teachers Headcount Weighted Below Median Healthy Retiree mortality table (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. Post-retirement mortality rates for disability retirements were based on the Pub-2010 Teachers Mortality Table for Disabled Retirees (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. The Pub-2010 Teachers Headcount Weighted Below Median Employee mortality table with ages set forward one year and adjusted 106% was used for death prior to retirement. Future improvement in mortality rates was assumed using the MP-2019 projection scale generationally. These rates of improvement were reduced by 20% for all years prior to the ultimate rate. \r\n For PSERS members: Pre-retirement mortality rates were based on the Pub-2010 General Employee Mortality Table, with no adjustment, with the MP-2019 Projections scale applied generationally. Post-retirement mortality rates for service retirements were based on the Pub-2010 General Healthy Annuitant Mortality Table (ages set forward one year and adjusted 105% for males and 108% for females) with the MP-2019 Projection scale applied generationally. Post-retirement mortality rates for disability retirements were based on the Pub-2010 General Disabled Mortality Table (ages set back three years for males and adjusted 103% for males and 106% for females) with the MP-2019 Projections scaled applied \r\n \r\n- 21 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\ngenerationally. Post-retirement mortality rates for beneficiaries were based on the Pub-2010 General Contingent Survivor Mortality Table (ages set forward two years and adjust 106% for males and 158% for females) with the MP-2019 Project scale applied generationally. \r\n \r\nThe actuarial assumptions used in the June 30, 2020 valuation were based on the results of an actuarial experience study for the pension systems, which covered the five-year period ending June 30, 2018, with the exception of the assumed annual rate of inflation with changed from 2.75% to 2.50%, effective with the June 30, 2018 valuation. \r\n \r\nThe remaining actuarial assumptions (e.g., initial per capita costs, health care cost trends, rate of plan participation, rates of plan election, etc.) used in the June 30, 2020 valuation were based on a review of recent plan experience done concurrently with the June 30, 2020 valuation. \r\n \r\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. \r\n \r\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. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table: \r\n \r\nAsset class \r\n \r\nTarget allocation \r\n \r\nLong-Term Expected Real Rate of Return* \r\n \r\nFixed income Equities \r\n \r\n30.00% 70.00% \r\n \r\n0.14% 9.20% \r\n \r\nTotal \r\n \r\n100.00% \r\n \r\n*Net of Inflation \r\n \r\nDiscount Rate: In order to measure the total OPEB liability for the School OPEB Fund, a single equivalent interest rate of 2.20% was used as the discount rate, as compared with last year's rate of 2.22%. This is comprised mainly of the yield or index rate for 20-year tax-exempt general obligation bonds with an average rating of AA or higher (2.16% 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 employers 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 2145. \r\n \r\n- 22 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nSensitivity of the School 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 2.20%, as well as what the School 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 (1.20%) or 1-percentage-point higher (3.20%) than the current discount rate: \r\n \r\n1% Decrease (1.20%) \r\n \r\nCurrent Discount Rate (2.20%) \r\n \r\n1% Increase (3.20%) \r\n \r\nSchool District's proportionate share of the Net OPEB liability \r\n \r\n$ 12,444,594.00 $ \r\n \r\n10,885,523.00 $ 9,580,433.00 \r\n \r\nSensitivity of the School 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 1percentage-point lower or 1-percentage-point higher than the current healthcare cost trend rates: \r\n \r\nSchool District's proportionate share of the Net OPEB liability \r\n \r\n1% Decrease \r\n \r\nCurrent Healthcare Cost Trend Rate \r\n \r\n1% Increase \r\n \r\n$ 9,236,788.00 $ 10,885,523.00 $ 12,946,571.00 \r\n \r\nOPEB Plan Fiduciary Net Position: Detailed information about the OPEB plan's fiduciary net position is available in the Annual Comprehensive Financial Report, which is publicly available at https://sao.georgia.gov/statewide-reporting/acfr. \r\n \r\nNOTE 14: RETIREMENT PLANS \r\n \r\nThe School District participates in various retirement plans administered by the State of Georgia, as further explained below. \r\n \r\nTeachers Retirement System of Georgia (TRS) \r\n \r\nPlan Description: All teachers of the School District as defined in O.C.G.A. 47-3-60 and certain other support personnel as defined by O.C.G.A. 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 Board of Trustees (TRS Board). Title 47 of the O.C.G.A. assigns the authority to establish and amend the benefit provisions to the State Legislature. The Teachers Retirement System of Georgia issues a publicly available separate financial report that can be obtained at www.trsga.com/publications. \r\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 \r\n \r\n- 23 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\ncompensation up to the time of disability. Death benefits equal the amount that would be payable to the employee's beneficiary had the employee retired on the date of death. Death benefits are based on the employee's creditable service and compensation up to the date of death. \r\nContributions: Per Title 47 of the O.C.G.A., contribution requirements of active employees and participating employers, as actuarially determined, are established and may be amended by the TRS Board. Pursuant to O.C.G.A. 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 6.00% of their annual pay during fiscal year 2022. The School District's contractually required contribution rate for the year ended June 30, 2022 was 19.81% of annual School District payroll, of which 19.56% of payroll was required from the School District and 0.25% of payroll was required from the State. For the current fiscal year, employer contributions to the pension plan were $1,898,867.00 and $24,604.43 from the School District and the State, respectively. \r\nPublic School Employees Retirement System (PSERS) \r\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 O.C.G.A. 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. \r\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. \r\nUpon retirement, the member will receive a monthly benefit of $15.50, 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. \r\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 O.C.G.A. 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. \r\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 current fiscal year contribution was $31,098.00. \r\n \r\n- 24 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nPension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions \r\n \r\nAt June 30, 2022, the School District reported a liability of $6,469,099.00 for its proportionate share of the net pension liability for TRS. \r\n \r\nThe TRS net pension liability reflected a reduction for support provided to the School District by the State of Georgia for certain public school support personnel. The amount recognized by the School District as its proportionate share of the net pension liability, the related State of Georgia support, and the total portion of the net pension liability that was associated with the School District were as follows: \r\n \r\nSchool District's proportionate share of the net pension liability \r\n \r\n$ \r\n \r\n6,469,099.00 \r\n \r\nState of Georgia's proportionate share of the net pension liability associated with the School District \r\n \r\n59,965.00 \r\n \r\nTotal \r\n \r\n$ \r\n \r\n6,529,064.00 \r\n \r\nThe net pension liability for TRS was measured as of June 30, 2021. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2020. An expected total pension liability as of June 30, 2021 was determined using standard roll-forward techniques. The School District's proportion of the net pension liability was based on contributions to TRS during the fiscal year ended June 30, 2021. \r\n \r\nAt June 30, 2021, the School District's TRS proportion was 0.073144%, which was a decrease of 0.002514% from its proportion measured as of June 30, 2020. \r\n \r\nAt June 30, 2022, the School District 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 School District is $22,806.00. \r\nThe PSERS net pension liability was measured as of June 30, 2021. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2020. An expected total pension liability as of June 30, 2021 was determined using standard roll-forward techniques. The State's proportion of the net pension liability associated with the School District was based on actuarially determined contributions paid by the State during the fiscal year ended June 30, 2021. \r\n \r\nFor the year ended June 30, 2022, the School District recognized pension expense of ($52,943.00) for TRS and $240.00 for PSERS and revenue of $22,771.00 for TRS and $240.00 for PSERS. The revenue is support provided by the State of Georgia. For TRS the State of Georgia support is provided only for certain support personnel. \r\n \r\n- 25 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nAt June 30, 2022, the School District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: \r\n \r\nTRS \r\n \r\nDeferred \r\n \r\nDeferred \r\n \r\nOutflows of \r\n \r\nInflows of \r\n \r\nResources \r\n \r\nResources \r\n \r\nDifferences between expected and actual \r\n \r\nexperience \r\n \r\n$ 1,543,733.00 $ \r\n \r\n- \r\n \r\nChanges of assumptions \r\n \r\n1,252,073.00 \r\n \r\n- \r\n \r\nNet difference between projected and actual earnings on pension plan investments \r\n \r\n- \r\n \r\n9,462,464.00 \r\n \r\nChanges in proportion and differences between School District contributions and proportionate share of contributions \r\n \r\n31,650.00 \r\n \r\n674,387.00 \r\n \r\nSchool District contributions subsequent to \r\n \r\nthe measurement date \r\n \r\n1,898,867.00 \r\n \r\n- \r\n \r\nTotal \r\n \r\n$ 4,726,323.00 $ 10,136,851.00 \r\n \r\nThe School District contributions subsequent to the measurement date for TRS 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, 2023. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: \r\n \r\nYear Ended June 30: \r\n \r\nTRS \r\n \r\n2023 2024 2025 2026 \r\n \r\n$ (1,447,756.00) $ (1,442,356.00) $ (2,011,011.00) $ (2,408,272.00) \r\n \r\n- 26 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nActuarial Assumptions: The total pension liability as of June 30, 2021 was determined by an actuarial valuation as of June 30, 2020, using the following actuarial assumptions, applied to all periods included in the measurement: \r\n \r\nTeachers Retirement System: \r\n \r\nInflation \r\n \r\n2.50% \r\n \r\nSalary increases \r\n \r\n3.00%  8.75%, average, including inflation \r\n \r\nInvestment rate of return \r\n \r\n7.25%, net of pension plan investment expense, including inflation \r\n \r\nPost-retirement benefit increases 1.50% semi-annually \r\n \r\nPost-retirement mortality rates for service retirements and beneficiaries were based on the Pub-2010 Teachers Headcount Weighted Below Median Healthy Retiree mortality table (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. Post-retirement mortality rates for disability retirements were based on the Pub-2010 Teachers Mortality Table for Disabled Retirees (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. The Pub-2010 Teachers Headcount Weighted Below Median Employee mortality table with ages set forward one year and adjusted 106% as used for death prior to retirement. Future improvement in mortality rates was assumed using the MP-2019 projection scale generationally. These rates of improvement were reduced by 20% for all years prior to the ultimate rate. \r\n \r\nThe actuarial assumptions used in the June 30, 2020 valuation were based on the results of an actuarial experience study for the period July 1, 2013  June 30, 2018. \r\n \r\nPublic School Employees Retirement System: \r\n \r\nInflation \r\n \r\n2.50% \r\n \r\nSalary increases \r\n \r\nN/A \r\n \r\nInvestment rate of return \r\n \r\n7.00%, net of pension plan investment expense, including inflation \r\n \r\nPost-retirement benefit increases 1.50% semi-annually \r\n \r\nMortality rates are as follows: \r\n \r\n The Pub-2010 General Employee Table, with no adjustments, projected generationally with the MP-2019 scale is used for both males and females while in active service. \r\n The Pub-2010 Family of Tables projected generationally with the MP-2019 Scale and with further adjustments are used for post-retirement mortality assumptions as follows: \r\n \r\nParticipant Type \r\n \r\nMembership Table \r\n \r\nSet Forward (+) / Setback (-) \r\n \r\nAdjustment to Rates \r\n \r\nService Retirees Disability Retirees Beneficiaries \r\n \r\nGeneral Healthy Below - Median Annuitant General Disabled General Below - Median Contingent Survivors \r\n \r\nMale: +2; Male: -3; Male: +2; \r\n \r\nFemale: +2 Female: 0 Female: +2 \r\n \r\nMale: 101%; Male: 103%; Male: 104%; \r\n \r\nFemale: 103% Female: 106% Female: 99% \r\n \r\n- 27 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nThe actuarial assumptions used in the June 30, 2020 valuation were based on the results of an actuarial experience study for the period July 1, 2014  June 30, 2019. \r\nThe long-term expected rate of return on TRS 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 returns, net of pension plan investment expense and 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. The target allocation and estimates of arithmetic real rates of return for each major asset class are summarized in the following table: \r\n \r\nAsset class \r\n \r\nTRS Target allocation \r\n \r\nLong-term expected real rate of return* \r\n \r\nPSERS Target allocation \r\n \r\nLong-term expected real rate of return* \r\n \r\nFixed income Domestic large stocks Domestic small stocks International developed market stocks International emerging market stocks Alternative \r\n \r\n30.00% 46.30% 1.20% 11.50% 6.00% 5.00% \r\n \r\n(0.80)% 9.30% 13.30% 9.30% 11.30% 10.60% \r\n \r\n30.00% 46.40% 1.10% 11.70% 5.80% 5.00% \r\n \r\n(1.50)% 9.20% 13.40% 9.20% 10.40% 10.60% \r\n \r\nTotal \r\n \r\n100.00% \r\n \r\n100.00% \r\n \r\n* Rates shown are net of inlation \r\nDiscount Rate: The discount rate used to measure the total TRS pension liability was 7.25%. The discount rate used to measure the total PSERS pension liability was 7.00%. 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 nonemployer 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 and PSERS pension plans' fiduciary net position were 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. \r\n \r\n- 28 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2022 \r\n \r\nEXHIBIT \"G\" \r\n \r\nSensitivity of the School District's Proportionate Share of the Net Pension Liability to Changes in the Discount Rate: The following presents the School District's proportionate share of the net pension liability calculated using the discount rate of 7.25%, as well as what the School District'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%) or 1-percentage-point higher (8.25%) than the current rate: \r\n \r\nTeachers Retirement System: \r\n \r\n1% Decrease (6.25%) \r\n \r\nCurrent Discount Rate (7.25%) \r\n \r\n1% Increase (8.25%) \r\n \r\nSchool District's proportionate share of the net pension liability \r\n \r\n$ 17,426,039.00 $ \r\n \r\n6,469,099.00 $ (2,509,357.00) \r\n \r\nPension Plan Fiduciary Net Position: Detailed information about the pension plan's fiduciary net position is available in the separately issued TRS and PSERS financial report which is publicly available at www.trsga.com/publications and http://www.ers.ga.gov/financials. \r\n \r\n- 29 - \r\n \r\n (This page left intentionally blank) \r\n \r\n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY TEACHERS RETIREMENT SYSTEM OF GEORGIA \r\n \r\nSCHEDULE \"1\" \r\n \r\nFor the Year Ended \r\nJune 30 \r\n \r\nSchool District's proportion of the Net Pension \r\nLiability (NPL) \r\n \r\nSchool District's proportionate share \r\nof the NPL \r\n \r\nState of Georgia's proportionate share of the NPL associated \r\nwith the School District \r\n \r\nTotal \r\n \r\nSchool District's covered payroll \r\n \r\nSchool District's proportionate share \r\nof the NPL as a percentage of its covered payroll \r\n \r\nPlan fiduciary net position as a percentage of \r\nthe total pension liability \r\n \r\n2022 2021 2020 2019 2018 2017 2016 2015 \r\n \r\n0.073144% $ 6,469,099.00 $ 0.075658% $ 18,327,329.00 $ 0.078097% $ 16,792,967.00 $ 0.078119% $ 14,500,560.00 $ 0.077289% $ 14,364,399.00 $ 0.081000% $ 16,711,203.00 $ 0.085361% $ 12,995,365.00 $ 0.086077% $ 10,874,694.00 $ \r\n \r\n59,965.00 $ 6,529,064.00 $ \r\n \r\n239,090.00 $ 18,566,419.00 $ \r\n \r\n221,693.00 $ 17,014,660.00 $ \r\n \r\n193,046.00 $ 14,693,606.00 $ \r\n \r\n88,094.00 $ 14,452,493.00 $ \r\n \r\n- \r\n \r\n$ 16,711,203.00 $ \r\n \r\n- \r\n \r\n$ 12,995,365.00 $ \r\n \r\n- \r\n \r\n$ 10,874,694.00 $ \r\n \r\n9,604,892.92 9,888,112.93 9,657,911.18 9,444,838.90 8,928,966.37 8,891,828.15 9,010,349.20 8,781,604.24 \r\n \r\n67.35% 185.35% 173.88% 153.53% 160.87% 187.94% 144.23% 123.83% \r\n \r\n92.03% 77.01% 78.56% 80.27% 79.33% 76.06% 81.44% 84.03% \r\n \r\nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \r\n \r\n- 31 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION \r\nSCHEDULE OF CONTRIBUTIONS TEACHERS RETIREMENT SYSTEM OF GEORGIA \r\n \r\nSCHEDULE \"2\" \r\n \r\nFor the Year Ended June 30 \r\n \r\nContractually required contribution \r\n \r\nContributions in relation to the contractually required contribution \r\n \r\nContribution deficiency (excess) \r\n \r\nSchool District's covered payroll \r\n \r\nContribution as a percentage of covered \r\npayroll \r\n \r\n2022 \r\n \r\n$ \r\n \r\n2021 \r\n \r\n$ \r\n \r\n2020 \r\n \r\n$ \r\n \r\n2019 \r\n \r\n$ \r\n \r\n2018 \r\n \r\n$ \r\n \r\n2017 \r\n \r\n$ \r\n \r\n2016 \r\n \r\n$ \r\n \r\n2015 \r\n \r\n$ \r\n \r\n1,898,867.00 $ 1,813,872.00 $ 2,063,452.62 $ 1,992,198.43 $ 1,566,854.00 $ 1,266,399.00 $ 1,268,863.94 $ 1,184,860.93 $ \r\n \r\n1,898,867.00 $ 1,813,872.00 $ 2,063,452.62 $ 1,992,198.43 $ 1,566,854.00 $ 1,266,399.00 $ 1,268,863.94 $ 1,184,860.93 $ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n9,707,908.99 9,604,892.92 9,888,112.93 9,657,911.18 9,444,838.90 8,928,966.37 8,891,828.15 9,010,349.20 \r\n \r\n19.56% 18.88% 20.87% 20.63% 16.59% 14.18% 14.27% 13.15% \r\n \r\nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \r\n \r\n- 32 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA \r\n \r\nSCHEDULE \"3\" \r\n \r\nFor the Year Ended \r\nJune 30 \r\n \r\nSchool District's proportion of the \r\nNet Pension Liability (NPL) \r\n \r\nSchool District's proportionate share \r\nof the NPL \r\n \r\nState of Georgia's proportionate share of \r\nthe NPL associated with the School District \r\n \r\nTotal \r\n \r\nSchool District's covered payroll \r\n \r\nSchool District's proportionate share \r\nof the NPL as a percentage of its covered payroll \r\n \r\nPlan fiduciary net position as a \r\npercentage of the total pension liability \r\n \r\n2022 2021 2020 2019 2018 2017 2016 2015 \r\n \r\n0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n22,806.00 $ \r\n \r\n22,806.00 $ \r\n \r\n167,656.00 $ 167,656.00 $ \r\n \r\n167,020.00 $ 167,020.00 $ \r\n \r\n131,113.00 $ 131,113.00 $ \r\n \r\n147,035.00 $ 147,035.00 $ \r\n \r\n178,428.00 $ 178,428.00 $ \r\n \r\n110,965.00 $ 110,965.00 $ \r\n \r\n98,846.00 $ \r\n \r\n98,846.00 $ \r\n \r\n318,784.20 318,810.15 320,317.34 307,414.03 334,920.33 282,307.57 273,965.88 253,172.53 \r\n \r\nN/A \r\n \r\n98.00% \r\n \r\nN/A \r\n \r\n84.45% \r\n \r\nN/A \r\n \r\n85.02% \r\n \r\nN/A \r\n \r\n85.26% \r\n \r\nN/A \r\n \r\n85.69% \r\n \r\nN/A \r\n \r\n81.00% \r\n \r\nN/A \r\n \r\n87.00% \r\n \r\nN/A \r\n \r\n88.29% \r\n \r\nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \r\n \r\n- 33 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET OPEB LIABILITY \r\nSCHOOL OPEB FUND \r\n \r\nSCHEDULE \"4\" \r\n \r\nFor the Year Ended June 30 \r\n \r\nSchool District's proportion of the \r\nNet OPEB Liability (NOL) \r\n \r\nSchool District's proportionate share \r\nof the NOL \r\n \r\nState of Georgia's proportionate share \r\nof the NOL associated with the \r\nSchool District \r\n \r\nTotal \r\n \r\nSchool District's covered-employee \r\npayroll \r\n \r\nSchool District's proportionate share of the NOL as a percentage of its covered-employee \r\npayroll \r\n \r\nPlan fiduciary net position as a \r\npercentage of the total OPEB \r\nliability \r\n \r\n2022 2021 2020 2019 2018 \r\n \r\n0.100505% $ 10,885,523.00 $ 0.101855% $ 14,960,127.00 $ 0.105197% $ 12,909,929.00 $ 0.106227% $ 13,501,126.00 $ 0.105796% $ 14,864,296.00 $ \r\n \r\n- \r\n \r\n$ 10,885,523.00 $ 8,568,849.18 \r\n \r\n- \r\n \r\n$ 14,960,127.00 $ 8,392,067.68 \r\n \r\n- \r\n \r\n$ 12,909,929.00 $ 8,080,443.72 \r\n \r\n- \r\n \r\n$ 13,501,126.00 $ 8,039,138.97 \r\n \r\n- \r\n \r\n$ 14,864,296.00 $ 7,642,002.71 \r\n \r\n127.04% 178.27% 159.77% 167.94% 194.51% \r\n \r\n6.14% 3.99% 4.63% 2.93% 1.61% \r\n \r\nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \r\n \r\n- 34 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION \r\nSCHEDULE OF CONTRIBUTIONS SCHOOL OPEB FUND \r\n \r\nSCHEDULE \"5\" \r\n \r\nFor the Year Ended June 30 \r\n \r\nContractually required contribution \r\n \r\nContributions in relation to the contractually required contribution \r\n \r\nContribution deficiency (excess) \r\n \r\nSchool District's covered-employee \r\npayroll \r\n \r\nContribution as a percentage of covered- \r\nemployee payroll \r\n \r\n2022 \r\n \r\n$ \r\n \r\n2021 \r\n \r\n$ \r\n \r\n2020 \r\n \r\n$ \r\n \r\n2019 \r\n \r\n$ \r\n \r\n2018 \r\n \r\n$ \r\n \r\n368,779.00 $ 373,860.00 $ 344,448.00 $ 566,562.00 $ 550,563.00 $ \r\n \r\n368,779.00 $ 373,860.00 $ 344,448.00 $ 566,562.00 $ 550,563.00 $ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n8,793,133.30 8,568,849.18 8,392,067.68 8,080,443.72 8,039,138.97 \r\n \r\n4.19% 4.36% 4.10% 7.01% 6.85% \r\n \r\nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \r\n \r\n- 35 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION \r\nFOR THE YEAR ENDED JUNE 30, 2022 \r\n \r\nSCHEDULE \"6\" \r\n \r\nTeachers Retirement System Change of benefit terms: There have been no changes in benefit terms. \r\nChanges of assumptions: On November 18, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to rates of mortality, retirement, disability, withdrawal and salary increases. The expectation of retired life mortality was changed to RP-2000 White Collar Mortality Table with future mortality improvement projected to 2025 with the Society of Actuaries' projection scale BB (set forward one year for males). \r\nOn May 15, 2019, the Board adopted recommended changes from the smoothed valuation interest rate methodology that has been in effect since June 30, 2009, to a constant interest rate method. In conjunction with the methodology, the long-term assumed rate of return in assets (discount rate) has been changed from 7.50% to 7.25%, and the assumed annual rate of inflation has been reduced from 2.75% to 2.50%. \r\nIn 2019 and later, the expectation of retired life mortality was changed to the Pub-2010 Teacher Headcount Weighted Below Median Healthy Retiree mortality table from the RP2000 Mortality Tables. In 2019, rates of withdrawal, retirement, disability and mortality were adjusted to more closely reflect actual experience. \r\n \r\nPublic School Employees Retirement System Changes of benefit terms: There have been no changes in benefit terms. \r\nChanges of assumptions: On December 17, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to rates of mortality, retirement and withdrawal. The expectation of retired life mortality was changed to 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). \r\nA new funding policy was initially adopted by the Board on March 15, 2018, and most recently amended on December 17, 2020. Because of this new funding policy, the assumed investment rate of return was reduced from 7.50% to 7.40% for the June 30, 2017 actuarila valuation and further reduced from 7.40% to 7.30% for the June 30, 2018 actuarial valuation. \r\nOn December 17, 2020, the Board adopted recommended changes to the economic and demographic assumption utilized by the System based on the experience study prepared for the five-year period ending June 30, 2019. Primary among the changes were the updates to rates or mortality, retirement, disability, and withdrawal. This also included a change to the long-term assumed investment rate of return to 7.00%. These assumption changes are reflected in the calculation of the June 30, 2021 Total Pension Liability. \r\nSchool OPEB Fund Changes of benefit terms: There have been no changes in benefit terms. \r\nChanges in assumptions: June 30, 2020 valuation: Decremental assumptions were changed to reflect the Employees Retirement Systems experience study. Approximately 0.10% of emloyees are members of the Employees Retirement System. \r\nJune 30, 2019 valuation: Decremental assumptions were changed to reflect the Teachers Retirement Systems experience study. \r\nJune 30, 2018 valuation: The inflation assumption was lowered from 2.75% to 2.50%. \r\nJune 30, 2017 valuation: The participation assumption, tobacco use assumption and morbidity factors were revised. \r\nJune 30, 2015 valuation: Decremental and underlying inflation assumptions were changed to reflect to Retirement Systems' experience studies. \r\nJune 30, 2012 valuation: A data audit was performed and data collection procedures and asssumptions were changed. \r\nThe 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, back to 3.58% of June 30, 2019, and to 2.22% as of June 30, 2020. \r\n \r\n- 36 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION GENERAL FUND \r\nSCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL \r\nYEAR ENDED JUNE 30, 2022 \r\n \r\nSCHEDULE \"7\" \r\n \r\nREVENUES Property Taxes Sales Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous Total Revenues \r\nEXPENDITURES Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enterprise Operations Capital Outlay Total Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES(USES) Other Sources Other Uses Total Other Financing Sources (Uses) \r\nNet Change in Fund Balances \r\nFund Balances - Beginning \r\nAdjustments \r\nFund Balances - Ending \r\n \r\nNONAPPROPRIATED BUDGETS \r\n \r\nORIGINAL (1) \r\n \r\nFINAL (1) \r\n \r\nACTUAL AMOUNTS \r\n \r\nVARIANCE OVER/UNDER \r\n \r\n$ \r\n \r\n3,017,000.00 $ \r\n \r\n3,017,000.00 $ \r\n \r\n3,620,405.41 $ \r\n \r\n- \r\n \r\n- \r\n \r\n184,112.29 \r\n \r\n15,049,317.00 \r\n \r\n15,862,940.00 \r\n \r\n16,149,668.02 \r\n \r\n2,427,565.28 \r\n \r\n5,800,976.00 \r\n \r\n7,757,158.43 \r\n \r\n34,000.00 \r\n \r\n34,000.00 \r\n \r\n107,109.74 \r\n \r\n22,900.00 \r\n \r\n22,900.00 \r\n \r\n13,610.42 \r\n \r\n150,400.00 \r\n \r\n150,400.00 \r\n \r\n633,690.90 \r\n \r\n20,701,182.28 \r\n \r\n24,888,216.00 \r\n \r\n28,465,755.21 \r\n \r\n603,405.41 184,112.29 286,728.02 1,956,182.43 \r\n73,109.74 (9,289.58) 483,290.90 3,577,539.21 \r\n \r\n11,394,412.10 \r\n985,347.71 641,960.85 270,209.98 421,364.25 1,128,138.80 228,269.95 1,420,655.14 1,021,003.22 \r\n17,000.00 144,072.00 1,166,299.00 \r\n3,000.31 - \r\n18,841,733.31 1,859,448.97 \r\n \r\n13,692,098.10 \r\n1,073,963.71 876,619.85 272,809.98 434,954.25 \r\n1,130,538.80 228,269.95 \r\n1,420,655.14 1,027,673.22 \r\n17,000.00 144,072.00 1,166,299.00 \r\n3,000.31 2,236,451.00 23,724,405.31 1,163,810.69 \r\n \r\n13,271,644.45 \r\n1,205,080.34 782,291.47 251,031.01 556,110.03 \r\n1,237,617.70 264,836.42 \r\n1,911,520.98 971,184.06 16,100.96 184,520.84 \r\n1,352,877.11 7,703.08 \r\n3,153,276.91 25,165,795.36 3,299,959.85 \r\n \r\n420,453.65 \r\n(131,116.63) 94,328.38 21,778.97 \r\n(121,155.78) (107,078.90) (36,566.47) (490,865.84) \r\n56,489.16 899.04 \r\n(40,448.84) (186,578.11) \r\n(4,702.77) (916,825.91) (1,441,390.05) 2,136,149.16 \r\n \r\n79,307.00 (1,579,307.00) (1,500,000.00) \r\n \r\n212,706.00 (2,212,706.00) (2,000,000.00) \r\n \r\n(2,000,000.00) (2,000,000.00) \r\n \r\n359,448.97 \r\n \r\n(836,189.31) \r\n \r\n1,299,959.85 \r\n \r\n3,971,018.16 \r\n \r\n3,971,018.16 \r\n \r\n4,241,791.44 \r\n \r\n13,605.38 \r\n \r\n(5,152.75) \r\n \r\n- \r\n \r\n$ \r\n \r\n4,344,072.51 $ \r\n \r\n3,129,676.10 $ \r\n \r\n5,541,751.29 $ \r\n \r\n(212,706.00) 212,706.00 \r\n- \r\n2,136,149.16 \r\n270,773.28 \r\n5,152.75 \r\n2,412,075.19 \r\n \r\nNotes to the Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual \r\n(1) Original and Final Budget amounts do not include the budgeted revenues or expenditures of the various principal accounts. The actual revenues and expenditures of the various principal accounts are $444,671.87 and $430,438.34, respectively. \r\nThe accompanying schedule of revenues, expenditures and changes in fund balances budget and actual is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the fund financial statements. \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 37 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 30, 2022 \r\n \r\nSCHEDULE \"8\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\nAgriculture, U. S. Department of Child Nutrition Cluster Pass-Through From Georgia Department of Education Food Services School Breakfast Program National School Lunch Program COVID-19 - National School Lunch Program Total U. S. Department of Agriculture \r\nEducation, U. S. Department of Direct Impact Aid Payments for Federally Connected Children - Section 7003 \r\nEducation Stabilization Fund Pass-Through From Georgia Department of Education COVID-19 - Elementary and Secondary School Emergency Relief Fund COVID-19 - American Rescue Plan Elementary and Secondary School Emergency Relief Fund Total Education Stabilization Fund \r\nSpecial Education Cluster Pass-Through From Georgia Department of Education Special Education Grants to States Grants to States COVID-19 - American Rescue Plan - Grants to States Preschool Grants COVID-19 - American Rescue Plan - Preschool Grants Total Special Education Cluster \r\nOther Programs Pass-Through From Georgia Department of Education Career and Technical Education - Basic Grants to States Comprehensive Literacy Development Migrant Education - State Grant Program Migrant Education - State Grant Program Title I Grants to Local Educational Agencies Title I Grants to Local Educational Agencies Total Other Programs Total U. S. Department of Education \r\nFederal Communications Commission, U.S. Direct COVID-19 - Emergency Connectivity Fund Program \r\nHealth and Human Services, U. S. Department of Child Care and Development Fund Cluster Pass-Through From Bright From the Start: Georgia Department of Early Care and Learning Child Care and Development Block Grant \r\nTotal Expenditures of Federal Awards \r\n \r\nASSISTANCE LISTING NUMBER \r\n \r\nPASSTHROUGH \r\nENTITY ID \r\nNUMBER \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n10.553 10.555 10.555 \r\n \r\n225GA324N1199 $ 225GA324N1199 225GA324N1099 \r\n \r\n333,586.76 814,679.38 107,463.76 1,255,729.90 \r\n \r\n84.041B \r\n84.425D 84.425U \r\n \r\nS425D210012 S425U210012 \r\n \r\n22,121.00 \r\n2,237,870.00 1,411,712.01 3,649,582.01 \r\n \r\n84.027A 84.027A 84.027X 84.173A 84.173X \r\n \r\nH027A200073 H027A210073 H027X210073 H173A210081 H173X210081 \r\n \r\n84.048A 84.371C 84.011A 84.011A 84.010A 84.010A \r\n \r\nV048A210010 S371C190016-19A \r\nS011A200011 S011A210011 S010A200010 S010A210010-21A \r\n \r\n32.009 \r\n \r\n104,649.00 280,906.79 \r\n86,533.00 10,581.12 \r\n5,585.00 488,254.91 \r\n30,549.00 475,021.39 \r\n26,741.00 19,358.76 73,458.00 678,372.06 1,303,500.21 5,463,458.13 \r\n670,149.30 \r\n \r\n93.575 \r\n \r\n16,147.50 \r\n \r\n$ \r\n \r\n7,405,484.83 \r\n \r\n- 38 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 30, 2022 \r\n \r\nSCHEDULE \"8\" \r\n \r\nNote 1. Basis of Presentation \r\n \r\nNotes to the Schedule of Expenditures of Federal Awards \r\n \r\nThe accompanying schedule of expenditures of federal awards (the \"Schedule\") includes the federal award activity of the Lanier County Board of Education (the \"Board\") under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Board, it is not intended to and does not present the financial position or changes in net position of the Board. \r\nNote 2. Summary of Significant Accounting Policies \r\nExpenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. \r\nNote 3. Indirect Cost Rate \r\nThe Board has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 39 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2021 \r\n \r\nSCHEDULE \"9\" \r\n \r\nAGENCY/FUNDING GRANTS Bright From the Start: Georgia Department of Early Care and Learning Pre-Kindergarten Program Education, Georgia Department of Quality Basic Education Direct Instructional Cost Kindergarten Program Kindergarten Program - Early Intervention Program Primary Grades (1-3) Program Primary Grades - Early Intervention (1-3) Program Upper Elementary Grades (4-5) Program Upper Elementary Grades - Early Intervention (4-5) Program Middle School (6-8) Program High School General Education (9-12) Program Vocational Laboratory (9-12) Program Students with Disabilities Gifted Student - Category VI Remedial Education Program Alternative Education Program English Speakers of Other Languages (ESOL) Media Center Program 20 Days Additional Instruction Staff and Professional Development Principal Staff and Professional Development Indirect Cost Central Administration School Administration Facility Maintenance and Operations Mid-term Adjustment Hold-Harmless Amended Formula Adjustment Categorical Grants Pupil Transportation Regular Nursing Services Sparsity Education Equalization Funding Grant One-time Supplement Other State Programs Agriculture Construction Related Equipment - State Bonds Food Services Hygiene Products Math and Science Supplements Preschool Disability Services Pupil Transportation - State Bonds Teachers Retirement Vocational Construction Related Equipment - State Bonds Vocational Education Vocational Supervisors \r\nGeorgia State Financing and Investment Commission Reimbursement on Construction Projects \r\nOffice of the State Treasurer Public School Employees Retirement \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nGENERAL \r\n \r\nCAPITAL PROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n402,218.90 $ \r\n \r\n- $ \r\n \r\n402,218.90 \r\n \r\n509,947.00 287,147.00 1,110,718.00 555,675.00 405,040.00 355,824.00 1,248,660.00 880,775.00 459,573.00 1,989,772.00 464,297.00 285,878.00 87,215.00 50,258.00 213,067.00 63,912.00 40,637.00 \r\n1,241.00 \r\n455,930.00 570,155.00 456,288.00 112,639.00 69,441.00 \r\n194,703.92 45,000.00 35,362.00 3,857,520.00 375,832.00 \r\n67,500.00 76,807.00 \r\n1,121.00 11,266.00 17,853.00 77,220.00 24,604.43 107,910.57 45,773.00 \r\n5,835.00 \r\n- \r\n31,098.00 \r\n \r\n- \r\n- \r\n- \r\n- \r\n621,464.10 \r\n- \r\n \r\n509,947.00 287,147.00 1,110,718.00 555,675.00 405,040.00 355,824.00 1,248,660.00 880,775.00 459,573.00 1,989,772.00 464,297.00 285,878.00 87,215.00 50,258.00 213,067.00 63,912.00 \r\n40,637.00 1,241.00 \r\n455,930.00 570,155.00 456,288.00 112,639.00 \r\n69,441.00 \r\n194,703.92 45,000.00 35,362.00 \r\n3,857,520.00 375,832.00 \r\n67,500.00 76,807.00 \r\n1,121.00 11,266.00 17,853.00 77,220.00 24,604.43 107,910.57 45,773.00 5,835.00 \r\n621,464.10 \r\n31,098.00 \r\n \r\n- 40 - \r\n \r\n AGENCY/FUNDING CONTRACT Human Resources, Georgia Department of Division of Family and Children Services Promoting Safe and Stable Families Second Step Social-Emotional Learning Human Resources, Georgia Department of Family Connections \r\n \r\nLANIER COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2021 \r\n \r\nSCHEDULE \"9\" \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nGENERAL \r\n \r\nCAPITAL PROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n15,000.00 $ \r\n \r\n34,954.20 \r\n \r\n48,000.00 \r\n \r\n$ \r\n \r\n16,149,668.02 $ \r\n \r\n- $ - \r\n- \r\n621,464.10 $ \r\n \r\n15,000.00 34,954.20 \r\n48,000.00 \r\n16,771,132.12 \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 41 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nYEAR ENDED JUNE 30, 2022 \r\n \r\nSCHEDULE \"10\" \r\n \r\nPROJECT SPLOST V \r\ni) To repay previously incurred debt on the issuance or sale of obligation bonds; \r\nii) Adding to, renovating, repairing, improving, and equipping existing school buildings and other buildings and facilities; \r\niii) Acquiring technology improvements for existing schools, including safety and security improvements, computer technology, hardware and software; \r\niv) Acquiring school buses, maintenance vehicles and equipment; \r\nv) Acquiring any necessary property therefor, both real and personal; \r\nvi) Acquire band instruments, textbooks and instructional materials; and \r\nvii) To pay expenses incident to accomplishing the foregoing. \r\nTotal \r\n \r\nORIGINAL ESTIMATED \r\nCOST (1) \r\n \r\nCURRENT ESTIMATED COSTS (2) \r\n \r\nESTIMATED COMPLETION \r\nDATE \r\n \r\n$ \r\n \r\n2,000,000.00 $ \r\n \r\n2,000,000.00 \r\n \r\n12/31/2024 \r\n \r\n1,000,000.00 \r\n \r\n2,000,000.00 \r\n \r\n12/31/2024 \r\n \r\n500,000.00 \r\n \r\n500,000.00 \r\n \r\n12/31/2024 \r\n \r\n500,000.00 \r\n \r\n500,000.00 \r\n \r\n12/31/2024 \r\n \r\n500,000.00 \r\n \r\n500,000.00 \r\n \r\n12/31/2024 \r\n \r\n250,000.00 \r\n \r\n250,000.00 \r\n \r\n12/31/2024 \r\n \r\n250,000.00 \r\n \r\n250,000.00 \r\n \r\n12/31/2024 \r\n \r\n$ \r\n \r\n5,000,000.00 $ \r\n \r\n6,000,000.00 \r\n \r\n- 42 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nYEAR ENDED JUNE 30, 2022 \r\n \r\nSCHEDULE \"10\" \r\n \r\nPROJECT SPLOST V \r\ni) To repay previously incurred debt on the issuance or sale of obligation bonds; \r\nii) Adding to, renovating, repairing, improving, and equipping existing school buildings and other buildings and facilities; \r\niii) Acquiring technology improvements for existing schools, including safety and security improvements, computer technology, hardware and software; \r\niv) Acquiring school buses, maintenance vehicles and equipment; \r\nv) Acquiring any necessary property therefor, both real and personal; \r\nvi) Acquire band instruments, textbooks and instructional materials; and \r\nvii) To pay expenses incident to accomplishing the foregoing. \r\nTotal \r\n \r\nAMOUNT EXPENDED IN CURRENT YEAR (3) \r\n \r\nAMOUNT EXPENDED IN PRIOR YEARS (3) \r\n \r\nTOTAL COMPLETION \r\nCOST \r\n \r\nEXCESS PROCEEDS NOT \r\nEXPENDED \r\n \r\n$ \r\n \r\n- $ \r\n \r\n977,436.12 $ \r\n \r\n- $ \r\n \r\n- \r\n \r\n- \r\n \r\n1,029,815.02 \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n$ \r\n \r\n- $ \r\n \r\n2,007,251.14 $ \r\n \r\n- $ \r\n \r\n- \r\n \r\n(1) The School District's original cost estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax. (2) The School District's current estimate of total cost for the projects. Includes all cost from project inception to completion. (3) The voters of Lanier County approved the imposition of a 1% sales tax to fund the above projects and retire associated debt. \r\nAmounts expended for these projects may include sales tax proceeds, state, local property taxes and/or other funds over the life of the projects. \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 43 - \r\n \r\n Section II Compliance and Internal Control Reports \r\n \r\n Greg S. Griffin State Auditor \r\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 \r\nACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nThe Honorable Brian P. Kemp, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the State Board of Education \r\nand Mrs. Anita Watson, Superintendent and Members of the Lanier County Board of Education \r\nWe have audited the financial statements of the governmental activities and each major fund of the Lanier County Board of Education (School District) as of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the School District's basic financial statements, and have issued our report thereon dated March 8, 2023. We conducted our audit in accordance with the auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. \r\nReport on Internal Control Over Financial Reporting \r\nIn planning and performing our audit of the financial statements, we considered the School District's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the basic financial statements, but not for the purpose of expressing an opinion on the effectiveness of the School District's internal control. Accordingly, we do not express an opinion on the effectiveness of the School District's internal control. \r\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 School District'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. \r\nOur consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified. \r\n270 Washington Street, SW, Suite 4-101 Atlanta, Georgia 30334 | Phone (404) 656-2180 \r\n \r\n Report on Compliance and Other Matters \r\nAs part of obtaining reasonable assurance about whether the School District'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 financial statements. 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. \r\nPurpose of this Report \r\nThe 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 School District'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 School District's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. \r\nRespectfully submitted, \r\nGreg S. Griffin State Auditor \r\nMarch 8, 2023 \r\n \r\n Greg S. Griffin State Auditor \r\nINDEPENDENT AUDITOR'S REPORT ON COMPLIANCE FOR EACH MAJOR FEDERAL PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE \r\nThe Honorable Brian P. Kemp, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the State Board of Education \r\nand Mrs. Anita Watson, Superintendent and Members of the Lanier County Board of Education \r\nReport on Compliance for Each Major Federal Program \r\nOpinion on Each Major Federal Program \r\nWe have audited the Lanier County Board of Education's (School District) compliance with the types of compliance requirements identified as subject to audit in the OMB Compliance Supplement that could have a direct and material effect on each of the School District's major federal programs for the year ended June 30, 2022. The School District's major federal programs are identified in the Summary of Auditor's Results section of the accompanying Schedule of Findings and Questioned Costs. \r\nIn our opinion, the School District 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, 2022. \r\nBasis for Opinion on Each Major Federal Program \r\nWe conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America (GAAS); 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Our responsibilities under those standards and the Uniform Guidance are further described in the Auditor's Responsibilities for the Audit of Compliance section of our report. \r\nWe are required to be independent of the School District and to meet our other ethical responsibilities, in accordance with relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each major federal program. Our audit does not provide a legal determination of the School District's compliance with the compliance requirements referred to above. \r\n270 Washington Street, SW, Suite 4-101 Atlanta, Georgia 30334 | Phone (404) 656-2180 \r\n \r\n Responsibilities of Management for Compliance \r\nManagement is responsible for compliance with the requirements referred to above and for the design, implementation, and maintenance of effective internal control over compliance with the requirements of laws, statutes, regulations, rules and provisions of contracts or grant agreements applicable to the School District's federal programs. \r\nAuditor's Responsibilities for the Audit of Compliance \r\nOur objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion on the School District's compliance based on our audit. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance will always detect material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Noncompliance with the compliance requirements referred to above is considered material, if there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about the School District's compliance with the requirements of each major federal program as a whole. \r\nIn performing an audit in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance, we: \r\n Exercise professional judgment and maintain professional skepticism throughout the audit. \r\n Identify and assess the risks of material noncompliance, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding School District's compliance with the compliance requirements referred to above and performing such other procedures as we considered necessary in the circumstances. \r\n Obtain an understanding of School District's internal control over compliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances 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 the School District's internal control over compliance. Accordingly, no such opinion is expressed. \r\nWe are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over compliance that we identified during the audit. \r\nReport on Internal Control over Compliance \r\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 a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance \r\n \r\n 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. \r\nOur consideration of internal control over compliance was for the limited purpose described in the Auditor's Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified. \r\nOur audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed. \r\nThe 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. \r\nRespectfully submitted, \r\nGreg S. Griffin State Auditor \r\nMarch 8, 2023 \r\n \r\n Section III Auditee's Response to Prior Year Findings and Questioned Costs \r\n \r\n LANIER COUNTY BOARD OF EDUCATION AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS YEAR ENDED JUNE 30, 2022 \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS No matters were reported. \r\nPRIOR YEAR FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported. \r\n \r\n Section IV Findings and Questioned Costs \r\n \r\n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 2022 \r\n \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n \r\nFinancial Statements \r\n \r\nType of auditor's report issued: Governmental Activities and Each Major Fund \r\nInternal control over financial reporting:  Material weakness(es) identified?  Significant deficiency(ies) identified? \r\nNoncompliance material to financial statements noted: \r\n \r\nUnmodified \r\nNo None Reported \r\nNo \r\n \r\nFederal Awards \r\n \r\nInternal Control over major programs:  Material weakness(es) identified?  Significant deficiency(ies) identified? \r\n \r\nType of auditor's report issued on compliance for major programs: \r\n \r\nAll major programs \r\n \r\nAny audit findings disclosed that are required to be reported in accordance with 2 CFR 200.516(a)? \r\n \r\nIdentification of major programs: \r\n \r\nAssistance Listing Number Assistance Listing Program or Cluster Title \r\n \r\n84.010 84.425 \r\n \r\nTitle I Grants to Local Educational Agencies Education Stabilization Fund \r\n \r\nDollar threshold used to distinguish between Type A and Type B programs: Auditee qualified as low-risk auditee? \r\n \r\nNo None Reported \r\nUnmodified No \r\n$750,000.00 Yes \r\n \r\nII FINANCIAL STATEMENT FINDINGS No matters were reported. Ill FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported. \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b2021-belec-p-btext","title":"Annual financial report, 2021 June 30, Lanier County Board of Education, Lakeland, Georgia, including independent auditor's report","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, 32.75042, -83.50018"],"dcterms_creator":["Georgia. Department of Audits and Accounts"],"dc_date":["2022-04-12"],"dcterms_description":["Annual report from the Lanier 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":["Lanier County Board of Education (Ga.)--Appropriations and expenditures--Periodicals","Education--Georgia--Lanier County--Auditing--Periodicals","Education--Georgia--Lanier County--Finance--Statistics--Periodicals"],"dcterms_title":["Annual financial report, 2021 June 30, Lanier County Board of Education, Lakeland, Georgia, including independent auditor's report"],"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-bl28-b2021-belec-p-btext"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b2021-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 statements","financial records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"ANNUAL FINANCIAL REPORT  FISCAL YEAR 2021 \r\nLanier County Board of Education \r\nLakeland, Georgia \r\nIncluding Independent Auditor's Report \r\nKristina A. Turner | Deputy State Auditor Greg S. Griffin | State Auditor \r\n \r\n Lanier County Board of Education Table of Contents \r\n \r\nSection I \r\n \r\nFinancial \r\n \r\nIndependent Auditor's Report \r\n \r\nExhibits \r\n \r\nBasic Financial Statements \r\n \r\nGovernment-Wide Financial Statements \r\n \r\nA \r\n \r\nStatement of Net Position \r\n \r\n1 \r\n \r\nB \r\n \r\nStatement of Activities \r\n \r\n2 \r\n \r\nFund Financial Statements \r\n \r\nC \r\n \r\nBalance Sheet \r\n \r\nGovernmental Funds \r\n \r\n3 \r\n \r\nD \r\n \r\nReconciliation of the Governmental Funds Balance Sheet \r\n \r\nto the Statement of Net Position \r\n \r\n4 \r\n \r\nE \r\n \r\nStatement of Revenues, Expenditures and Changes in Fund \r\n \r\nBalances \r\n \r\nGovernmental Funds \r\n \r\n5 \r\n \r\nF \r\n \r\nReconciliation of the Governmental Funds Statement of \r\n \r\nRevenues, Expenditures and Changes in Fund Balances \r\n \r\nto the Statement of Activities \r\n \r\n6 \r\n \r\nG Notes to the Basic Financial Statements \r\n \r\n7 \r\n \r\nSchedules \r\n \r\nRequired Supplementary Information \r\n \r\n1 Schedule of Proportionate Share of the Net Pension Liability \r\n \r\nTeachers Retirement System of Georgia \r\n \r\n31 \r\n \r\n2 Schedule of Contributions  Teachers Retirement System of Georgia \r\n \r\n32 \r\n \r\n3 Schedule of Proportionate Share of the Net Pension Liability \r\n \r\nPublic School Employees' Retirement System of Georgia \r\n \r\n33 \r\n \r\n4 Schedule of Proportionate Share of the Net Pension Liability \r\n \r\nSchool OPEB Fund \r\n \r\n34 \r\n \r\n5 Schedule of Contributions  School OPEB Fund \r\n \r\n35 \r\n \r\n6 Notes to the Requires Supplementary Information \r\n \r\n36 \r\n \r\n7 Schedule of Revenues, Expenditures and Changes in Fund \r\n \r\nBalances  Budget and Actual \r\n \r\nGeneral Fund \r\n \r\n38 \r\n \r\n Lanier County Board of Education Table of Contents Section I \r\n \r\nSchedules \r\n \r\nSupplementary Information \r\n \r\n12 Schedule of Expenditures of Federal Awards \r\n \r\n39 \r\n \r\n13 Schedule of State Revenue \r\n \r\n41 \r\n \r\n14 Schedule of Approved Local Option Sales Tax Projects \r\n \r\n42 \r\n \r\nSection II \r\n \r\nCompliance and Internal Control Reports \r\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 \r\nIndependent Auditor's Report on Compliance for Each Major Federal Program and on Internal Control Over Compliance Required by the Uniform Guidance \r\n \r\nSection III \r\n \r\nAuditee's Response to Prior Year Findings and Questioned Costs Summary Schedule of Prior Year Findings Section IV \r\n \r\nFindings and Questioned Costs Schedule of Findings and Questioned Costs \r\n \r\n Section I Financial \r\n \r\n Greg S. Griffin State Auditor \r\nINDEPENDENT AUDITOR'S REPORT \r\nThe Honorable Brian P. Kemp, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the State Board of Education \r\nand Mrs. Anita Watson, Superintendent and Members of the Lanier County Board of Education \r\nReport on the Financial Statements \r\nWe have audited the accompanying financial statements of the governmental activities and each major fund of the Lanier County Board of Education (School District), as of and for the year ended June 30, 2021, and the related notes to the financial statements, which collectively comprise the School District's basic financial statements as listed in the table of contents. \r\nManagement's Responsibility for the Financial Statements \r\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. \r\nAuditor's Responsibility \r\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. \r\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 School District'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 School District'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. \r\n270 Washington Street, SW, Suite 4-101 Atlanta, Georgia 30334 | Phone (404) 656-2180 \r\n \r\n We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. \r\nOpinions \r\nIn our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the School District as of June 30, 2021, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. \r\nEmphasis of Matter \r\nAs described in Note 2 to the financial statements, in 2021, the School District adopted new accounting guidance, Governmental Accounting Standards Board (GASB) Statement No. 84, Fiduciary Activities. The School District restated beginning balances for the effect of GASB No. 84. Our opinions are not modified with respect to this matter. \r\nOther Matters \r\nRequired Supplementary Information \r\nManagement has omitted the Management's Discussion and Analysis that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing 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. Our opinions on the basic financial statements are not affected by this missing information. \r\nAccounting principles generally accepted in the United States of America require that the required supplementary information listed in the table of contents 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. \r\nOther Information \r\nOur audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the School District's basic financial statements. The accompanying supplementary information, as listed in the table of contents, is presented for the purposes of additional analysis and is not a required part of the basic financial statements. The Schedule of Expenditures of Federal Awards \r\n \r\n is presented for purposes of additional analysis as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is also not a required part of the basic financial statements. \r\nThe accompanying supplementary information is the responsibility of management and was derived from and relates 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 basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. \r\nOther Reporting Required by Government Auditing Standards \r\nIn accordance with Government Auditing Standards, we have also issued our report dated April 12, 2022 on our consideration of the School District'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 School District'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 the School District's internal control over financial reporting and compliance. \r\nA copy of this report has been filed as a permanent record and made available to the press of the State, as provided for by Official Code of Georgia Annotated section 50-6-24. \r\nRespectfully submitted, \r\nGreg S. Griffin State Auditor \r\nApril 12, 2022 \r\n \r\n Lanier County Board of Education \r\n \r\n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF NET POSITION JUNE 30, 2021 \r\nASSETS Cash and Cash Equivalents Receivables, Net \r\nTaxes State Government Federal Government Inventories Prepaid Items Capital Assets, Non-Depreciable Capital Assets, Depreciable (Net of Accumulated Depreciation) \r\nTotal Assets \r\nDEFERRED OUTFLOWS OF RESOURCES Related to Defined Benefit Pension Plan Related to OPEB Plan \r\nTotal Deferred Outflows of Resources \r\nLIABILITIES Accounts Payable Salaries and Benefits Payable Net Pension Liability Net OPEB Liability \r\nTotal Liabilities \r\nDEFERRED INFLOWS OF RESOURCES Related to Defined Benefit Pension Plan Related to OPEB Plan \r\nTotal Deferred Inflows of Resources \r\nNET POSITION Net Investment in Capital Assets Restricted for \r\nContinuation of Federal Programs Capital Projects Unrestricted (Deficit) \r\nTotal Net Position \r\n \r\nEXHIBIT \"A\" \r\n \r\nGOVERNMENTAL ACTIVITIES \r\n \r\n$ \r\n \r\n4,256,556.09 \r\n \r\n335,036.91 1,984,662.94 \r\n768,860.24 34,592.62 \r\n260,000.00 1,199,277.13 19,890,062.90 28,729,048.83 \r\n \r\n5,001,611.00 2,982,584.00 7,984,195.00 \r\n \r\n175.68 1,919,500.00 18,327,329.00 14,960,127.00 35,207,131.68 \r\n \r\n528,490.00 3,490,563.00 4,019,053.00 \r\n \r\n21,089,340.03 \r\n \r\n425,115.87 1,212,893.89 (25,240,290.64) \r\n \r\n$ \r\n \r\n(2,512,940.85) \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n \r\n- 1 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF ACTIVITIES \r\nFOR THE YEAR ENDED JUNE 30, 2021 \r\n \r\nEXHIBIT \"B\" \r\n \r\nEXPENSES \r\n \r\nCHARGES FOR SERVICES \r\n \r\nPROGRAM REVENUES \r\nOPERATING GRANTS AND CONTRIBUTIONS \r\n \r\nCAPITAL GRANTS AND CONTRIBUTIONS \r\n \r\nNET (EXPENSES) \r\nREVENUES AND CHANGES IN \r\nNET POSITION \r\n \r\nGOVERNMENTAL ACTIVITIES \r\n \r\nInstruction \r\n \r\n$ \r\n \r\nSupport Services \r\n \r\nPupil Services \r\n \r\nImprovement of Instructional Services \r\n \r\nEducational Media Services \r\n \r\nGeneral Administration \r\n \r\nSchool Administration \r\n \r\nBusiness Administration \r\n \r\nMaintenance and Operation of Plant \r\n \r\nStudent Transportation Services \r\n \r\nCentral Support Services \r\n \r\nOther Support Services \r\n \r\nOperations of Non-Instructional Services \r\n \r\nEnterprise Operations \r\n \r\nFood Services \r\n \r\nInterest on Long-Term Debt \r\n \r\n12,903,600.69 $ \r\n1,176,583.37 680,445.15 280,602.56 492,291.61 1,376,337.06 212,004.05 2,247,010.46 886,227.87 \r\n6,143.19 142,004.32 \r\n5,256.57 1,289,178.15 \r\n51,805.12 \r\n \r\n67,970.58 $ \r\n- \r\n9,390.96 \r\n- \r\n \r\n10,715,821.75 $ \r\n236,138.80 159,957.33 231,622.75 521,769.34 629,029.73 \r\n766.36 1,100,808.49 \r\n233,692.16 32.78 \r\n16,163.71 \r\n20.11 1,248,210.85 \r\n- \r\n \r\n929,227.90 $ \r\n44,254.76 - \r\n11,396.27 130,113.92 \r\n83,402.90 77,220.00 48,382.86 \r\n- \r\n82,965.69 \r\n- \r\n \r\n(1,190,580.46) \r\n(896,189.81) (520,487.82) \r\n(48,979.81) 40,874.00 (617,193.41) (211,237.69) (1,062,799.07) (575,315.71) 42,272.45 (125,840.61) \r\n(5,236.46) 51,389.35 (51,805.12) \r\n \r\nTotal Governmental Activities \r\n \r\n$ 21,749,490.17 $ \r\n \r\n77,361.54 $ 15,094,034.16 $ \r\n \r\n1,406,964.30 \r\n \r\n(5,171,130.17) \r\n \r\nGeneral Revenues Taxes Property Taxes For Maintenance and Operations Other Taxes Sales Taxes Local Option Sales Tax For Capital Projects Other Sales Tax Grants and Contributions not Restricted to Specific Programs Investment Earnings Miscellaneous Total General Revenues \r\n \r\n3,737,094.18 8,611.35 \r\n674,802.47 90,301.45 \r\n3,349,736.00 14,620.61 \r\n475,463.85 8,350,629.91 \r\n \r\nChange in Net Position \r\n \r\n3,179,499.74 \r\n \r\nNet Position - Beginning of Year (Restated) \r\n \r\n(5,692,440.59) \r\n \r\nNet Position - End of Year \r\n \r\n$ \r\n \r\n(2,512,940.85) \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n \r\n- 2 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION BALANCE SHEET \r\nGOVERNMENTAL FUNDS JUNE 30, 2021 \r\n \r\nASSETS Cash and Cash Equivalents Receivables, Net \r\nTaxes State Government Federal Government Inventories Prepaid Items \r\nTotal Assets \r\nLIABILITIES Accounts Payable Salaries and Benefits Payable \r\nTotal Liabilities \r\nDEFERRED INFLOWS OF RESOURCES Unavailable Revenue - Property Taxes Unavailable Revenue - GSFIC Unavailable Revenue - Federal Revenue \r\nTotal Deferred Inflows of Resources \r\nFUND BALANCES Nonspendable Restricted Assigned Unassigned \r\nTotal Fund Balances \r\nTotal Liabilities, Deferred Inflows of Resources, and Fund Balances \r\n \r\nGENERAL FUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\n$ \r\n \r\n3,565,498.44 $ \r\n \r\n691,057.65 $ \r\n \r\n276,121.07 1,521,742.54 768,860.24 \r\n34,592.62 260,000.00 \r\n \r\n58,915.84 462,920.40 \r\n- \r\n \r\n$ \r\n \r\n6,426,814.91 $ \r\n \r\n1,212,893.89 $ \r\n \r\n$ \r\n \r\n175.68 $ \r\n \r\n1,919,500.00 \r\n \r\n1,919,675.68 \r\n \r\n$ - \r\n \r\n191,610.26 - \r\n73,737.53 265,347.79 \r\n \r\n462,920.40 \r\n462,920.40 \r\n \r\n294,592.62 390,523.25 282,978.14 3,273,697.43 4,241,791.44 \r\n \r\n749,973.49 \r\n749,973.49 \r\n \r\n$ \r\n \r\n6,426,814.91 $ \r\n \r\n1,212,893.89 $ \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n- \r\n \r\n- \r\n \r\n$ \r\n \r\nEXHIBIT \"C\" \r\nTOTAL \r\n4,256,556.09 335,036.91 \r\n1,984,662.94 768,860.24 34,592.62 260,000.00 \r\n7,639,708.80 \r\n175.68 1,919,500.00 1,919,675.68 \r\n191,610.26 462,920.40 \r\n73,737.53 728,268.19 \r\n294,592.62 1,140,496.74 \r\n282,978.14 3,273,697.43 4,991,764.93 \r\n7,639,708.80 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n \r\n- 3 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET \r\nTO THE STATEMENT OF NET POSITION JUNE 30, 2021 \r\n \r\nTotal fund balances - governmental funds (Exhibit \"C\") \r\nAmounts reported for governmental activities in the Statement of Net Position are different because: \r\nCapital assets used in governmental activities are not financial resources and therefore are not reported in the funds. Land Buildings and improvements Equipment Land improvements Accumulated depreciation \r\nSome liabilities are not due and payable in the current period and, therefore, are not reported in the funds. Net pension liability Net OPEB liability \r\nDeferred outflows and inflows of resources related to pensions/OPEB are applicable to future periods and, therefore, are not reported in the funds. Related to pensions Related to OPEB \r\nTaxes that are not available to pay for current period expenditures are deferred in the funds. Property taxes \r\nGeorgia State Financing and Investment Commission (GSFIC) grants that are not available to pay current period expenditures and deferred in the funds. \r\nElementary and Secondary School Emergency Relief (ESSER) grants that are not available to pay current period expenditures and deferred in the funds. \r\nNet position of governmental activities (Exhibit \"A\") \r\n \r\n$ \r\n \r\n$ \r\n \r\n1,199,277.13 \r\n \r\n26,453,247.65 \r\n \r\n2,888,009.88 \r\n \r\n950,856.41 \r\n \r\n(10,402,051.04) \r\n \r\n$ \r\n \r\n(18,327,329.00) \r\n \r\n(14,960,127.00) \r\n \r\n$ \r\n \r\n4,473,121.00 \r\n \r\n(507,979.00) \r\n \r\n$ \r\n \r\nEXHIBIT \"D\" 4,991,764.93 \r\n21,089,340.03 (33,287,456.00) \r\n3,965,142.00 191,610.26 \r\n462,920.40 73,737.53 \r\n(2,512,940.85) \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n \r\n- 4 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nGOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2021 \r\n \r\nEXHIBIT \"E\" \r\n \r\nREVENUES Property Taxes Sales Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous Total Revenues \r\nEXPENDITURES Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Enterprise Operations Food Services Operation Capital Outlay Debt Service Principal Interest Total Expenditures \r\nRevenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) Transfers In Transfers Out Total Other Financing Sources (Uses) \r\nNet Change in Fund Balances \r\nFund Balances - Beginning (Restated) \r\nFund Balances - Ending \r\n \r\nGENERAL FUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n3,721,049.77 $ \r\n \r\n90,301.45 \r\n \r\n14,658,868.72 \r\n \r\n3,724,018.07 \r\n \r\n77,361.54 \r\n \r\n12,752.40 \r\n \r\n475,463.85 \r\n \r\n22,759,815.80 \r\n \r\n- \r\n \r\n$ \r\n \r\n674,802.47 \r\n \r\n866,823.90 \r\n \r\n- \r\n \r\n- \r\n \r\n1,868.21 \r\n \r\n- \r\n \r\n1,543,494.58 \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n3,721,049.77 765,103.92 \r\n15,525,692.62 3,724,018.07 \r\n77,361.54 14,620.61 475,463.85 24,303,310.38 \r\n \r\n11,699,474.22 \r\n1,086,312.92 632,771.39 262,201.19 467,496.45 \r\n1,239,769.00 204,340.21 \r\n2,173,530.23 1,086,037.68 \r\n10,882.01 142,004.32 \r\n5,256.57 1,218,671.72 \r\n- \r\n20,228,747.91 2,531,067.89 \r\n \r\n- \r\n1,039,645.02 \r\n585,000.00 25,445.92 \r\n1,650,090.94 (106,596.36) \r\n \r\n- \r\n- \r\n980,000.00 35,145.60 \r\n1,015,145.60 (1,015,145.60) \r\n \r\n11,699,474.22 \r\n1,086,312.92 632,771.39 262,201.19 467,496.45 \r\n1,239,769.00 204,340.21 \r\n2,173,530.23 1,086,037.68 \r\n10,882.01 142,004.32 \r\n5,256.57 1,218,671.72 1,039,645.02 \r\n1,565,000.00 60,591.52 \r\n22,893,984.45 1,409,325.93 \r\n \r\n(1,576,637.36) (1,576,637.36) \r\n \r\n954,430.53 3,287,360.91 \r\n \r\n$ \r\n \r\n4,241,791.44 $ \r\n \r\n1,126,637.36 (565,145.60) \r\n561,491.76 \r\n454,895.40 \r\n295,078.09 \r\n749,973.49 $ \r\n \r\n1,015,145.60 - \r\n1,015,145.60 \r\n \r\n- \r\n \r\n- \r\n \r\n$ \r\n \r\n2,141,782.96 (2,141,782.96) \r\n- \r\n1,409,325.93 \r\n3,582,439.00 \r\n4,991,764.93 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n \r\n- 5 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF \r\nREVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES JUNE 30, 2021 \r\n \r\nEXHIBIT \"F\" \r\n \r\nNet change in fund balances total governmental funds (Exhibit \"E\") \r\nAmounts reported for governmental activities in the Statement of Activities are different because: \r\nGovernmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of capital assets is allocated over their estimated useful lives as depreciation expense. Capital outlay Depreciation expense \r\nRevenues reported in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds Property taxes Federal Revenue - ESSER Capital grants and contributions - GSFIC \r\nThe issuance of long-term debt provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the effect of premiums, discounts and the difference between the carrying value of refunded debt and the acquisition cost of refunded debt when debt is first issued. These amounts are deferred and amortized in the Statement of Activities. Bond principal retirement Tax anticipation note repayment \r\nDistrict pension/OPEB contributions are reported as expenditures in the governmental funds when made. However, they are reported as deferred outflows of resources in the Statement of Net Position because the reported net pension/OPEB liability is measured a year before the District's report date. Pension/OPEB expense, which is the change in the net pension/OPEB liability adjusted for changes in deferred outflows and inflows of resources related to pensions/OPEB, is reported in the Statement of Activities. Pension expense OPEB expense \r\nSome items reported in the Statement of Activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds. Accrued interest on issuance of bonds \r\nChange in net position of governmental activities (Exhibit \"B\") \r\n \r\n$ \r\n \r\n1,409,325.93 \r\n \r\n$ \r\n \r\n1,371,630.49 \r\n \r\n(656,706.15) \r\n \r\n$ \r\n \r\n24,655.76 \r\n \r\n73,737.53 \r\n \r\n462,920.40 \r\n \r\n714,924.34 561,313.69 \r\n \r\n$ \r\n \r\n980,000.00 \r\n \r\n585,000.00 \r\n \r\n1,565,000.00 \r\n \r\n$ \r\n \r\n(927,721.62) \r\n \r\n(152,129.00) \r\n \r\n(1,079,850.62) \r\n \r\n8,786.40 \r\n \r\n$ \r\n \r\n3,179,499.74 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n \r\n- 6 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nNOTE 1: DESCRIPTION OF SCHOOL DISTRICT AND REPORTING ENTITY \r\nReporting Entity \r\nThe Lanier County Board of Education (School District) was established under the laws of the State of Georgia and operates under the guidance of a board elected by the voters and a Superintendent appointed by the Board. The School District is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the School District is a primary government and consists of all the organizations that compose its legal entity. \r\nNOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nThe accompanying financial statements of the School District have been prepared in conformity with generally accepted accounting principles (GAAP) as prescribed by the Governmental Accounting Standards Board (GASB). GASB is the accepted standard-setting body for governmental accounting and financial reporting principles. The most significant of the School District's accounting policies are described below. \r\nBasis of Presentation \r\nThe School District's basic financial statements are collectively comprised of the government-wide financial statements, fund financial statements and notes to the basic financial statements. The government-wide statements focus on the School District as a whole, while the fund financial statements focus on major funds. Each presentation provides valuable information that can be analyzed and compared between years and between governments to enhance the information's usefulness. \r\nGovernment-Wide Statements: \r\nThe Statement of Net Position and the Statement of Activities display information about the financial activities of the overall School District. Eliminations have been made to minimize the double counting of internal activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange transactions. \r\nThe Statement of Net Position presents the School District's assets, deferred outflows of resources, deferred inflows of resources and liabilities, with the difference reported as net position. Net position is reported in three categories as follows: \r\n1. Net investment in capital assets consists of the School District's total investment in capital assets, net of accumulated depreciation, and reduced by outstanding debt obligations related to those capital assets. To the extent debt has been incurred but not yet expended for capital assets, such amounts are not included as a component of net investment in capital assets. \r\n2. Restricted net position consists of resources for which the School District is legally or contractually obligated to spend in accordance with restrictions imposed by external third parties or imposed by law through constitutional provisions or enabling legislation. \r\n3. Unrestricted net position consists of resources not meeting the definition of the two preceding categories. Unrestricted net position often has constraints on resources imposed by management which can be removed or modified. \r\n \r\n- 7 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nThe Statement of Activities presents a comparison between direct expenses and program revenues for each function of the School District's governmental activities. \r\nDirect expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Indirect expenses (expenses of the School District related to the administration and support of the School District's programs, such as office and maintenance personnel and accounting) are not allocated to programs. \r\nProgram revenues include (a) charges paid by the recipients of goods or services offered by the programs and (b) grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues. \r\nFund Financial Statements \r\nThe fund financial statements provide information about the School District's funds. Eliminations have been made to minimize the double counting of internal activities. The emphasis of fund financial statements is on major governmental funds, each displayed in a separate column. \r\nThe School District reports the following major governmental funds: \r\n The general fund is the School District's primary operating fund. It accounts for and reports all financial resources not accounted for and reported in another fund. \r\n The capital projects fund accounts for and reports financial resources including Education Special Purpose Local Option Sales Tax (ESPLOST), bond proceeds and grants from Georgia State Financing and Investment Commission that are restricted, committed or assigned for capital outlay expenditures, including the acquisition or construction of capital facilities and other capital assets. \r\n The debt service fund accounts for and reports financial resources that are restricted, committed, or assigned including taxes (sales) legally restricted for the payment of general longterm principal and interest. \r\nBasis of Accounting \r\nThe basis of accounting determines when transactions are reported on the financial statements. The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place. Nonexchange transactions, in which the School District gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, sales taxes, grants and donations. On an accrual basis, revenue from property taxes is recognized in the fiscal year for which the taxes are levied. Revenue from sales taxes is recognized in the fiscal year in which the underlying transaction (sale) takes place. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. \r\nThe School District uses funds to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. \r\n- 8 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nGovernmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available. The School District considers certain revenues reported in the governmental funds to be available if they are collected within 60 days after year-end. The School District considers all intergovernmental revenues to be available if they are collected within 120 days after year-end. Property taxes, sales taxes and interest are considered to be susceptible to accrual. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on general long-term debt, which are recognized as expenditures to the extent they have matured. Capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of general long-term liabilities are reported as other financing sources. \r\nThe School District funds certain programs by a combination of specific cost-reimbursement grants, categorical grants, and general revenues. Thus, when program costs are incurred, there are both restricted and unrestricted resources available to finance the program. It is the School District's policy to first apply grant resources to such programs, followed by cost-reimbursement grants, then general revenues. \r\nNew Accounting Pronouncements \r\nIn fiscal year 2021, the School District adopted Governmental Accounting Standards Board (GASB) Statement No. 84, Fiduciary Activities. This statement establishes criteria for identifying fiduciary activities of all state and local governments. The focus of the criteria generally is on (1) whether a government is controlling the assets of the fiduciary activity and (2) the beneficiaries with whom a fiduciary relationship exists. Separate criteria are included to identify fiduciary component units and postemployment benefit arrangements that are fiduciary activities. An activity meeting the criteria should be reported in a fiduciary fund in the basic financial statements. Governments with activities meeting the criteria should present a statement of fiduciary net position and a statement of changes in fiduciary net position. The cumulative effect of the GASB Statement No. 84 is described in the restatement note. \r\nIn fiscal year 2021, the School District adopted Governmental Accounting Standards Board (GASB) Statement No. 90, Majority Equity Interests. It defines a majority equity interest and specifies that majority equity interest in a legal separate organization should be reported as an investment. A majority equity interest that meets the definition of an investment should be measured using the equity method, unless it is held by a special-purpose government engaged only in fiduciary activities, a fiduciary fund, or an endowment (including permanent and term endowments) or permanent fund. Those governments and funds should measure the majority equity interest at fair value. The adoption of this statement did not have an impact on the School District's financial statements. \r\nCash and Cash Equivalents \r\nCash and cash equivalents consist of cash on hand, demand deposits, investments in the State of Georgia local government investment pool (Georgia Fund 1) and short-term investments with original maturities of three months or less from the date of acquisition in authorized financial institutions. Official Code of Georgia Annotated (O.C.G.A.) 45-8-14 authorizes the School District to deposit its funds in one or more solvent banks, insured Federal savings and loan associations or insured chartered building and loan associations. \r\n \r\n- 9 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nReceivables \r\nReceivables consist of amounts due from property and sales taxes, grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the basic financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \r\nInventories \r\nFood Inventories \r\nOn the basic financial statements, inventories of donated food commodities used in the preparation of meals are reported at their Federally assigned value and purchased foods inventories are reported at cost (calculated on the first-in, first-out basis). The School District uses the consumption method to account for inventories whereby donated food commodities are recorded as an asset and as revenue when received, and expenses/expenditures are recorded as the inventory items are used. Purchased foods are recorded as an asset when purchased and expenses/expenditures are recorded as the inventory items are used. \r\nPrepaid Items \r\nPayments made to vendors for services that will benefit future accounting periods are recorded as prepaid items, in both the government-wide and governmental fund financial statements. \r\nCapital Assets \r\nOn the government-wide financial statements, capital assets are recorded at cost where historical records are available and at estimated historical cost based on appraisals or deflated current replacement cost where no historical records exist. Donated capital assets are recorded at the acquisition value on the date donated. The cost of normal maintenance and repairs that do not add to the value of assets or materially extend the useful lives of the assets is not capitalized. The School District does not capitalize book collections or works of art. \r\nCapital acquisition and construction are recorded as expenditures in the governmental fund financial statements at the time of purchase (including ancillary charges), and the related assets are reported as capital assets in the governmental activities column in the government-wide financial statements. \r\nDepreciation is computed using the straight-line for all assets, except land, and is used to allocate the actual or estimated historical cost of capital assets over estimated useful lives. \r\n \r\n- 10 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nCapitalization thresholds and estimated useful lives of capital assets reported in the government-wide statements are as follows: \r\n \r\nCapitalization Policy \r\n \r\nEstimated Useful Life \r\n \r\nLand Land Improvements Buildings and Improvements Equipment Intangible Assets \r\n \r\nAny Amount \r\n \r\n$ \r\n \r\n100,000.00 \r\n \r\n$ \r\n \r\n100,000.00 \r\n \r\n$ \r\n \r\n25,000.00 \r\n \r\n$ \r\n \r\n100,000.00 \r\n \r\nN/A 15 years \r\n25 to 60 years 5 to 25 years \r\n10 to 20 years \r\n \r\nDeferred Outflows/Inflows of Resources \r\nIn addition to assets, the statement of financial position 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 (expense/expenditure) until then. \r\nIn addition to liabilities, the statement of financial position 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 (revenue) until that time. \r\nLong-Term Liabilities and Bond Discounts/Premiums \r\nIn the School District's government-wide financial statements, outstanding debt is reported as liabilities. Bond issuance costs are recognized as an outflow of resources in the fiscal year in which the bonds are issued. \r\nIn the governmental fund financial statements, the School District recognizes the proceeds of debt and premiums as other financing sources of the current period. Bond issuance costs are reported as debt service expenditures. \r\nPensions \r\nFor 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 pension plan's fiduciary net position and additions to/deductions from the plan's fiduciary net position have been determined on the same basis as they are reported by the plan. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. \r\nPost-Employment Benefits Other Than Pensions (OPEB) \r\nFor purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the Georgia School Employees Post-Employment Benefit Fund (School OPEB Fund) and additions \r\n \r\n- 11 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nto/deductions from School OPEB Fund fiduciary net position have been determined on the same basis as they are reported by School OPEB Fund. For this purpose, benefit payments are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. \r\nFund Balances \r\nFund balance for governmental funds is reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. \r\nThe School District's fund balances are classified as follows: \r\nNonspendable consists of resources that cannot be spent either because they are in a nonspendable form or because they are legally or contractually required to be maintained intact. \r\nRestricted consists of resources that can be used only for specific purposes pursuant constraints either (1) externally imposed by creditors, grantors, contributors, or laws and regulations of other governments or (2) imposed by law through constitutional provisions or enabling legislation. \r\nCommitted consists of resources that can be used only for specific purposes pursuant to constraints imposed by formal action of the Board. The Board is the School District's highest level of decisionmaking 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. Committed fund balance also should incorporate contractual obligations to the extent that existing resources in the fund have been specifically committed for use in satisfying those contractual requirements. \r\nAssigned consists of resources constrained by the School District's intent to be used for specific purposes but are neither restricted nor committed. The intent should be expressed by (1) the Board or (2) the budget or finance committee, or the Superintendent, or designee, to assign amounts to be used for specific purposes. \r\nUnassigned 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. \r\nUse of Estimates \r\nThe preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates. \r\nProperty Taxes \r\nThe Lanier County Board of Commissioners adopted the property tax levy for the 2020 tax digest year (calendar year) on October 13, 2020 (levy date) based on property values as of January 1, 2020. Taxes were due on December 28, 2020 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2020 tax digest are reported as revenue in the governmental funds for fiscal year 2021. The Lanier County Tax Commissioner bills and collects the property taxes for the School \r\n \r\n- 12 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nDistrict, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the School District. Property tax revenues, at the fund reporting level, during the fiscal year ended June 30, 2021, for maintenance and operations amounted to $3,189,428.99. \r\nThe tax millage rate levied for the 2020 tax digest year (calendar year) for the School District was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n16.794 mills \r\n \r\nAdditionally, Title Ad Valorem Tax revenues, at the fund reporting level, amounted to $523,009.43 during fiscal year ended June 30, 2021. \r\nSales Taxes \r\nEducation Special Purpose Local Option Sales Tax (ESPLOST), at the fund reporting level, during the year amounted to $674,802.47 and is to be used for capital outlay for educational purposes or debt service. This sales tax was authorized by local referendum and the sales tax must be re-authorized at least every five years. \r\nNOTE 3: BUDGETARY DATA \r\nThe budget is a complete financial plan for the School District's fiscal year and is based upon careful estimates of expenditures together with probable funding sources. The budget is legally adopted each year for the general fund. There is no statutory prohibition regarding over expenditure of the budget at any level. The budget for all governmental funds, except the various school activity (principal) accounts, is prepared and adopted by fund and function. The legal level of budgetary control was established by the Board at the aggregate fund level. The budget for the general fund was prepared in accordance with accounting principles generally accepted in the United States of America. \r\nThe budgetary process begins with the School District's administration presenting an initial budget for the Board's review. The administration makes revisions as necessary based on the Board's guidelines, and a tentative budget is approved. 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, as well as the School District's website. At the next regularly scheduled meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final budget. The approved budget is then submitted, in accordance with provisions of O.C.G.A. 20-2-167(c), to the Georgia Department of Education. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. \r\nSee the General Fund Schedule of Revenues, Expenditures and Changes in Fund Balances  Budget to Actual in the Supplementary Information Section for a detail of any over/under expenditures during the fiscal year under review. \r\nNOTE 4: DEPOSITS \r\nCollateralization of Deposits \r\nO.C.G.A.  45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value of \r\n \r\n- 13 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nsecurities pledged shall be equal to not less than 110% of the public funds being secured after the deduction of the amount of deposit insurance. If a depository elects the pooled method (O.C.G.A.  45-8-13.1) the aggregate of the market value of the securities pledged to secure a pool of public funds shall be not less than 110% of the daily pool balance. At June 30, 2021, $143,285.55 of deposits were not secured by surety bond, insurance or collateral as specified above. \r\nAcceptable security for deposits consists of any one of or any combination of the following: \r\n(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \r\n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \r\n(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, \r\n(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia, \r\n(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and \r\n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by or securities guaranteed by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \r\nCategorization of Deposits \r\nCustodial credit risk is the risk that in the event of a bank failure, the School District's deposits may not be returned to it. The School District does not have a deposit policy for custodial credit risk. At June 30, 2021, the School District had deposits with a carrying amount of $4,256,556.09, and a bank balance of $5,468,350.28. The bank balances insured by Federal depository insurance were $500,000.00 and the bank balances collateralized with securities held by the pledging financial institution's trust department or agent in the School District's name were $4,825,064.73. \r\n \r\n- 14 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nAt June 30, 2021, $143,285.55 of the School District's bank balance was exposed to custodial credit risk as follows: \r\n \r\nUninsured and Uncollateralized \r\n \r\n$ \r\n \r\n143,285.55 \r\n \r\nUninsured with collateral held by the pledging \r\n \r\nfinancial institution \r\n \r\n- \r\n \r\nUninsured with collateral held by the pledging \r\n \r\nfinancial institution's trust department or \r\n \r\nagent but not in the School District's name \r\n \r\n- \r\n \r\nTotal \r\n \r\n$ \r\n \r\n143,285.55 \r\n \r\nNOTE 5: CAPITAL ASSETS \r\n \r\nThe following is a summary of changes in the capital assets for governmental activities during the fiscal year: \r\n \r\nBalances July 1, 2020 \r\n \r\nIncreases \r\n \r\nDecreases \r\n \r\nBalances June 30, 2021 \r\n \r\nGovernmental Activities \r\n \r\nCapital Assets, Not Being Depreciated: \r\n \r\nLand \r\n \r\n$ \r\n \r\nConstruction in Progress \r\n \r\n1,199,277.13 $ 2,740,710.51 \r\n \r\n- $ \r\n \r\n- $ \r\n \r\n- \r\n \r\n2,740,710.51 \r\n \r\n1,199,277.13 - \r\n \r\nTotal Capital Assets Not Being Depreciated \r\n \r\n3,939,987.64 \r\n \r\n- \r\n \r\n2,740,710.51 \r\n \r\n1,199,277.13 \r\n \r\nCapital Assets Being Depreciated Buildings and Improvements Equipment Land Improvements \r\nLess Accumulated Depreciation for: Buildings and Improvements Equipment Land Improvements \r\nTotal Capital Assets, Being Depreciated, Net \r\nGovernmental Activities Capital Assets - Net \r\n \r\n22,706,480.65 2,733,304.88 950,856.41 \r\n \r\n3,746,767.00 365,574.00 - \r\n \r\n7,211,656.00 1,977,148.25 767,409.64 \r\n \r\n469,842.24 168,384.22 \r\n18,479.69 \r\n \r\n16,434,428.05 \r\n \r\n3,455,634.85 \r\n \r\n$ 20,374,415.69 $ 3,455,634.85 $ \r\n \r\n210,869.00 \r\n- \r\n \r\n26,453,247.65 2,888,009.88 \r\n950,856.41 \r\n \r\n210,869.00 \r\n- \r\n \r\n7,681,498.24 1,934,663.47 \r\n785,889.33 \r\n \r\n- \r\n \r\n19,890,062.90 \r\n \r\n2,740,710.51 $ 21,089,340.03 \r\n \r\n- 15 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nCurrent year depreciation expense by function is as follows: \r\n \r\nInstruction \r\n \r\n$ 372,047.57 \r\n \r\nSupport Services \r\n \r\nPupil Services \r\n \r\n$ \r\n \r\n17,718.88 \r\n \r\nGeneral Administration \r\n \r\n4,562.88 \r\n \r\nSchool Administration \r\n \r\n52,095.47 \r\n \r\nMaintenance and Operation of Plant \r\n \r\n33,393.15 \r\n \r\nStudent Transportation Services \r\n \r\n124,298.40 \r\n \r\nCentral Support Services \r\n \r\n19,371.70 \r\n \r\n251,440.48 \r\n \r\nFood Services \r\n \r\n33,218.10 \r\n \r\n$ 656,706.15 \r\n \r\nNOTE 6: INTERFUND TRANSFERS \r\n \r\nInterfund Transfers Interfund transfers for the year ended June 30, 2021, consisted of the following: \r\n \r\nTransfers to \r\n \r\nTransfers From \r\n \r\nGeneral \r\n \r\nCapital Projects \r\n \r\nFund \r\n \r\nFund \r\n \r\nCapital Projects Fund Debt Service Fund \r\n \r\n$ 1,126,637.36 $ 450,000.00 \r\n \r\n565,145.60 \r\n \r\nTotal \r\n \r\n$ 1,576,637.36 $ \r\n \r\n565,145.60 \r\n \r\nTransfers are used to move property tax revenues collected by the general fund to capital projects fund for capital construction projects and to the debt service fund to pay bond principal and interest payments. Also, sales tax revenue collected by the capital projects fund is moved to the debt service fund to pay bond principal and interest payments. \r\nNOTE 7: SHORT-TERM DEBT \r\nThe School District issued tax anticipation notes and obtains temporary loans in advance of property tax collections, depositing the proceeds in its capital projects fund. This short-term debt is to provide cash for the advance funding of capital projects until property tax collections are received by the School District. Article IX, Section V, Paragraph V of the Constitution of the State of Georgia limits the aggregate amount of short-term debt to 75% of the total gross income from taxes collected in the preceding year and requires all short-term debt to be repaid no later than December 31 of the calendar year in which the debt was incurred. \r\n \r\n- 16 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nShort-term debt activity for the fiscal year is as follows: \r\n \r\nBeginning Balance \r\n \r\nIssued \r\n \r\nRedeemed \r\n \r\nEnding Balance \r\n \r\nTax Anticipation Notes $ 585,000.00 $ 1,010,000.00 $ 1,595,000.00 $ \r\n \r\n- \r\n \r\nNOTE 8: LONG-TERM LIABILITIES \r\n \r\nThe changes in long-term liabilities during the fiscal year for governmental activities were as follows: \r\n \r\nBalance July 1, 2020 \r\n \r\nGovernmental Activities \r\n \r\nBalance \r\n \r\nAdditions \r\n \r\nDeductions \r\n \r\nJune 30, 2021 \r\n \r\nDue Within One Year \r\n \r\nGeneral Obligation (G.O.) Bonds $ 980,000.00 $ \r\n \r\n- $ 980,000.00 $ \r\n \r\n- $ \r\n \r\n- \r\n \r\nGeneral Obligation Debt Outstanding \r\nThe School District had no unused line of credit or outstanding notes from direct borrowings and direct placements related to governmental activities as of June 30, 2021. \r\nNOTE 9: RISK MANAGEMENT \r\nInsurance \r\nCommercial Insurance \r\nThe School District is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors or omissions; job related illness or injuries to employees; and natural disasters. Except as described below, the School District carries commercial insurance for these risks. Settled claims resulting from these insured risks have not exceed commercial insurance coverage in any of the past three fiscal years. \r\nWorkers' Compensation \r\nGeorgia Education Workers' Compensation Trust \r\nThe School District participates in the Georgia Education Workers' Compensation Trust (the Trust), a public entity risk pool organized on December 1, 1991, to develop, implement and administer a program of workers' compensation self-insurance for its member organizations. The School District pays an annual premium to the Trust for its general workers' compensation insurance coverage. Specific excess of loss insurance coverage is provided through an agreement by the Trust with the Safety National Casualty Company to provide coverage for potential losses sustained by the Trust in excess of $1.0 million loss per occurrence, up to the statutory limit. Employers' Liability insurance coverage is also provided with limits of $2.0 million. The Trust covers the first $1.0 million of each Employers Liability claim with Safety National providing additional Employers Liability limits up to a $2.0 million per occurrence maximum. Safety National Casualty Company also provides $2.0 million in aggregate coverage to the Trust, attaching at 107% of the loss fund and based on the Fund's annual normal premium. \r\n- 17 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nUnemployment Compensation \r\nThe School District is self-insured with regard to unemployment compensation claims. The School District accounts for claims within the general fund with expenses/expenditures and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. The School District had no unemployment claims in the last two fiscal years. \r\nSurety Bond \r\nThe School District purchased surety bonds to provide additional insurance coverage as follows: \r\n \r\nPosition Covered \r\n \r\nAmount \r\n \r\nSuperintendent Principals Bookkeppers Nutrition Managers Nutrition Cashiers \r\n \r\n$ \r\n \r\n100,000.00 \r\n \r\n$ \r\n \r\n5,000.00 \r\n \r\n$ \r\n \r\n4,000.00 \r\n \r\n$ \r\n \r\n3,000.00 \r\n \r\n$ \r\n \r\n2,000.00 \r\n \r\nNOTE 10: FUND BALANCE CLASSIFICATION DETAILS \r\n \r\nThe School District's financial statements include the following amounts presented in the aggregate at June 30, 2021: \r\n \r\nNonspendable \r\n \r\nInventories \r\n \r\n$ \r\n \r\nPrepaid Assets \r\n \r\nRestricted \r\n \r\nContinuation of Federal Programs $ \r\n \r\nCapital Projects \r\n \r\nAssigned \r\n \r\nSchool Activity Accounts \r\n \r\nUnassigned \r\n \r\n34,592.62 260,000.00 $ \r\n \r\n294,592.62 \r\n \r\n390,523.25 749,973.49 \r\n \r\n1,140,496.74 \r\n \r\n282,978.14 3,273,697.43 \r\n \r\nFund Balance, June 30, 2021 \r\n \r\n$ 4,991,764.93 \r\n \r\nWhen multiple categories of fund balance are available for an expenditure, the School District will start with the most restricted category and spend those funds first before moving down to the next category with available funds. \r\n \r\nNOTE 11: BROADBAND SPECTRUM LEASE \r\n \r\nEffective July 29, 2011 and August 15, 2012, the School District entered into lease agreements which were 10- and 11-year lease agreements with Spectrum Holdings, Inc. for the lease of excess spectrum capacity on Education Broadband Service licenses currently held by the School District. The licenses were granted to the School District by the Federal Communications Commission. The lease agreements with Spectrum Holdings, Inc. include two additional renewal terms of 10 years each that become effective automatically conditioned only upon the lessee's desire to not extend the agreement and the \r\n- 18 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nFCC approval of the renewal of the agreements. Effective August 7, 2020, Spectrum Holdings, Inc. assigned all of its right, title, and interest of the leases to SoniqWave Networks LLC. The lease agreements require monthly lease payments over the term of the lease, of which $29,167.80 was recognized during fiscal year 2021 as a general revenue on the Statement of Activities. \r\nNote 12: SIGNIFICANT CONTINGENT LIABILITIES \r\nFederal Grants \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any costs which are disallowed under grant terms. Any disallowances resulting from the grantor audit may become a liability of the School District. However, the School District believes that such disallowances, if any, will be immaterial to its overall financial position. \r\nNOTE 13: OTHER POST-EMPLOYMENT BENEFITS (OPEB) \r\nGeorgia School Personnel Post-Employment Health Benefit Fund \r\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 multiple-employer defined benefit post-employment 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. \r\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 administrative expenses of the fund. By law, no other use of the assets of the School OPEB Fund is permitted. \r\nContributions: As established by the Board, the School OPEB Fund is substantially funded on a payas-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 $373,860.00 for the year ended June 30, 2021. Active employees are not required to contribute to the School OPEB Fund. \r\nOPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB \r\nAt June 30, 2021, the School District reported a liability of $14,960,127.00 for its proportionate share of the net OPEB liability. The net OPEB liability was measured as of June 30, 2020. The total OPEB liability used to calculate the net OPEB liability was based on an actuarial valuation as of June 30, 2019. \r\n- 19 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nAn expected total OPEB liability as of June 30, 2020 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, 2020. At June 30, 2020, the School District's proportion was 0.101855%, which was a decrease of 0.003342% from its proportion measured as of June 30, 2019. \r\nFor the year ended June 30, 2021, the School District recognized OPEB expense of $525,989.00. At June 30, 2021, the School District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: \r\n \r\nOPEB \r\n \r\nDeferred Outflows of Resources \r\n \r\nDeferred Inflows of Resources \r\n \r\nDifferences between expected and actual \r\n \r\nexperience \r\n \r\n$ \r\n \r\n- \r\n \r\n$ 1,633,181.00 \r\n \r\nChanges of assumptions \r\n \r\n2,474,073.00 \r\n \r\n1,331,130.00 \r\n \r\nNet difference between projected and actual \r\n \r\nearnings on OPEB plan investments \r\n \r\n38,992.00 \r\n \r\n- \r\n \r\nChanges in proportion and differences between School District contributions and proportionate share of contributions \r\n \r\n95,659.00 \r\n \r\n526,252.00 \r\n \r\nSchool District contributions subsequent to the measurement date \r\nTotal \r\n \r\n373,860.00 \r\n \r\n- \r\n \r\n$ 2,982,584.00 $ 3,490,563.00 \r\n \r\n- 20 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nSchool District contributions subsequent to the measurement date 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, 2022. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: \r\n \r\nYear Ended June 30: \r\n \r\nOPEB \r\n \r\n2022 2023 2024 2025 2026 Thereafter \r\n \r\n$ (365,599.00) \r\n \r\n$ (366,645.00) \r\n \r\n$ (294,395.00) \r\n \r\n$ \r\n \r\n(70,660.00) \r\n \r\n$ \r\n \r\n149,230.00 \r\n \r\n$ \r\n \r\n66,230.00 \r\n \r\nActuarial assumptions: The total OPEB liability as of June 30, 2020 was determined by an actuarial valuation as of June 30, 2019 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, 2020: \r\nOPEB: \r\n \r\nInflation \r\n \r\n2.50% \r\n \r\nSalary increases \r\n \r\n3.00%  8.75%, including inflation \r\n \r\nLong-term expected rate of return 7.30%, compounded annually, net of investment expense, and including inflation \r\n \r\nHealthcare cost trend rate Pre-Medicare Eligible Medicare Eligible \r\nUltimate trend rate Pre-Medicare Eligible Medicare Eligible \r\nYear of Ultimate trend rate \r\n \r\n7.00% 5.25% \r\n4.50% 4.50% \r\n \r\nPre-Medicare Eligible \r\n \r\n2029 \r\n \r\nMedicare Eligible \r\n \r\n2023 \r\n \r\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: \r\n \r\n For TRS members: The Pub-2010 Teachers Headcount Weighted Below Median Healthy Retiree Mortality Table projected generationally with MP-2019 projection scale (set forward one year and adjusted 106%) is used for death prior to retirement and for service retirements and \r\n \r\n- 21 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nbeneficiaries. The Pub-2010 Teachers Mortality Table for Disabled Retirees projected generationally with MP-2019 Projection scale (set forward one year and adjusted 106%) is used for disability retirements. For both, rates of improvement were reduced by 20% for all years prior to the ultimate rate. \r\n 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. Rates of mortality in active service were based on the RP-2000 Employee Mortality Table projected to 2025 with projection scale BB. There is a margin for future morality improvement in the tables used by the plan. \r\n \r\nThe actuarial assumptions used in the June 30, 2019 valuation were based on the results of an actuarial experience study for the pension systems, which covered the five-year period ending June 30, 2018, with the exception of the assumed annual rate of inflation which changed from 2.75% to 2.50%, effective with the June 30, 2018 valuation. \r\n \r\nThe remaining actuarial assumptions (e.g., initial per capita costs, health care cost trends, rate of plan participation, rates of plan election, etc.) used in the June 30, 2019 valuation were based on a review of recent plan experience done concurrently with the June 30, 2019 valuation. \r\n \r\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. \r\n \r\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. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table: \r\n \r\nAsset class \r\n \r\nTarget allocation \r\n \r\nLong-Term Expected Real Rate of Return* \r\n \r\nFixed income Equities \r\n \r\n30.00% 70.00% \r\n \r\n0.50% 9.20% \r\n \r\nTotal \r\n \r\n100.00% \r\n \r\n*Net of Inflation \r\n \r\n- 22 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nDiscount Rate: In order to measure the total OPEB liability for the School OPEB, a single equivalent interest rate of 2.22% was used as the discount rate, as compared with last year's rate of 3.58%. This is comprised mainly of the yield or index rate for 20 year tax-exempt general obligation bonds with an average rating of AA or higher (2.21% 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 2118. \r\nSensitivity of the School District's proportionate share of the net OPEB liability to changes in the discount rate: The following presents the collective net OPEB liability of the participating employers calculated using the discount rate of 2.22%, as well as what the School 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 (1.22%) or 1-percentage-point higher (3.22%) than the current discount rate: \r\n \r\n1% Decrease (1.22%) \r\n \r\nCurrent Discount Rate (2.22%) \r\n \r\n1% Increase (3.22%) \r\n \r\nSchool District's proportionate share of the Net OPEB liability \r\n \r\n$ 17,575,682.00 $ \r\n \r\n14,960,127.00 $ 12,868,415.00 \r\n \r\nSensitivity of the School District's proportionate share of the net OPEB liability to changes in the healthcare cost trend rates: The following presents the collective net OPEB liability of the participating employers, as well as what the collective net OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower or 1-percentagepoint higher than the current healthcare cost trend rates: \r\n \r\n1% Decrease \r\n \r\nCurrent Healthcare Cost Trend Rate \r\n \r\n1% Increase \r\n \r\nSchool District's proportionate share of the Net OPEB liability \r\n \r\n$ 12,455,810.00 $ \r\n \r\n14,960,127.00 $ 18,202,491.00 \r\n \r\nOPEB plan fiduciary net position: Detailed information about the OPEB plan's fiduciary net position is available in the Annual Comprehensive Financial Report, which is publicly available at https://sao.georgia.gov/statewide-reporting/acfr. \r\n \r\nNOTE 14: RETIREMENT PLANS \r\n \r\nThe School District participates in various retirement plans administered by the State of Georgia, as further explained below. \r\n \r\nTeachers Retirement System of Georgia (TRS) \r\n \r\nPlan Description: All teachers of the School District as defined in O.C.G.A 47-3-60 and certain other support personnel as defined by O.C.G.A. 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 Board of Trustees (TRS Board). Title 47 of the O.C.G.A. assigns the \r\n \r\n- 23 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nauthority to establish and amend the benefit provisions to the State Legislature. The Teachers Retirement System of Georgia issues a publicly available separate financial report that can be obtained at www.trsga.com/publications. \r\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 employee retired on the date of death. Death benefits are based on the employee's creditable service and compensation up to the date of death. \r\nContributions: Per Title 47 of the O.C.G.A., contribution requirements of active employees and participating employers, as actuarially determined, are established and may be amended by the TRS Board. Pursuant to O.C.G.A. 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 6.00% of their annual pay during fiscal year 2021. The School District's contractually required contribution rate for the year ended June 30, 2021 was 19.06% of annual School District payroll, of which 18.88% of payroll was required from the School District and 0.18% of payroll was required from the State. For the current fiscal year, employer contributions to the pension plan were $1,813,872.00 and $18,039.16 from the School District and the State, respectively. \r\nPublic School Employees Retirement System (PSERS) \r\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 O.C.G.A. 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. \r\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. \r\nUpon retirement, the member will receive a monthly benefit of $15.50, 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. \r\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 \r\n- 24 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\npaid directly to PSERS by the State Treasurer in accordance with O.C.G.A. 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. \r\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 current fiscal year contribution was $25,110.00. \r\nPension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions \r\nAt June 30, 2021, the School District reported a liability of $18,327,329.00 for its proportionate share of the net pension liability for TRS. \r\nThe TRS net pension liability reflected a reduction for support provided to the School District by the State of Georgia for certain public school support personnel. The amount recognized by the School District as its proportionate share of the net pension liability, the related State of Georgia support, and the total portion of the net pension liability that was associated with the School District were as follows: \r\n \r\nSchool District's proportionate share of the net pension liability \r\n \r\n$ 18,327,329.00 \r\n \r\nState of Georgia's proportionate share of the net pension liability associated with the School District \r\n \r\n239,090.00 \r\n \r\nTotal \r\n \r\n$ 18,566,419.00 \r\n \r\nThe net pension liability for TRS was measured as of June 30, 2020. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2019. An expected total pension liability as of June 30, 2020 was determined using standard roll-forward techniques. The School District's proportion of the net pension liability was based on contributions to TRS during the fiscal year ended June 30, 2020. \r\nAt June 30, 2020, the School District's TRS proportion was 0.075658%, which was a decrease of 0.002439% from its proportion measured as of June 30, 2019. \r\nAt June 30, 2021, the School District 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 School District is $167,656.00. \r\nThe PSERS net pension liability was measured as of June 30, 2020. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2019. An expected total pension liability as of June 30, 2020 was determined using standard roll-forward techniques. The State's proportion of the net pension liability associated with the School District was based on actuarially determined contributions paid by the State during the fiscal year ended June 30, 2020. \r\n \r\n- 25 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nFor the year ended June 30, 2021, the School District recognized pension expense of $2,815,370.40 for TRS and $33,738.00 for PSERS and revenue of $73,777.00 for TRS and $33,738.00 for PSERS. The revenue is support provided by the State of Georgia. For TRS the State of Georgia support is provided only for certain support personnel. \r\n \r\nAt June 30, 2021, the School District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: \r\n \r\nTRS \r\n \r\nDeferred \r\n \r\nDeferred \r\n \r\nOutflows of \r\n \r\nInflows of \r\n \r\nResources \r\n \r\nResources \r\n \r\nDifferences between expected and actual \r\n \r\nexperience \r\n \r\n$ 798,161.00 $ \r\n \r\n- \r\n \r\nChanges of assumptions \r\n \r\n1,887,736.00 \r\n \r\n- \r\n \r\nNet difference between projected and actual \r\n \r\nearnings on pension plan investments \r\n \r\n441,417.00 \r\n \r\n- \r\n \r\nChanges in proportion and differences between School District contributions and proportionate share of contributions \r\n \r\n60,425.00 \r\n \r\n528,490.00 \r\n \r\nSchool District contributions subsequent to the \r\n \r\nmeasurement date \r\n \r\n1,813,872.00 \r\n \r\n- \r\n \r\nTotal \r\n \r\n$ 5,001,611.00 $ 528,490.00 \r\n \r\nThe School District contributions subsequent to the measurement date for TRS 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, 2022. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: \r\n \r\nYear Ended June 30: \r\n2022 2023 2024 2025 \r\n \r\nTRS \r\n$ 427,418.00 $ 936,292.00 $ 942,335.00 $ 353,204.00 \r\n \r\n- 26 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nActuarial assumptions: The total pension liability as of June 30, 2020 was determined by an actuarial valuation as of June 30, 2019, using the following actuarial assumptions, applied to all periods included in the measurement: \r\n \r\nTeachers Retirement System: \r\n \r\nInflation \r\n \r\n2.50% \r\n \r\nSalary increases \r\n \r\n3.00%  8.75%, average, including inflation \r\n \r\nInvestment rate of return \r\n \r\n7.25%, net of pension plan investment expense, including inflation \r\n \r\nPost-retirement benefit increases 1.50% semi-annually \r\n \r\nPost-retirement mortality rates for service retirements and beneficiaries were based on the Pub-2010 Teachers Headcount Weighted Below Median Healthy Retiree mortality table (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. Post-retirement mortality rates for disability retirements were based on the Pub-2010 Teachers Mortality Table for Disabled Retirees (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. The Pub-2010 Teachers Headcount Weighted Below Median Employee mortality table with ages set forward one year and adjusted 106% as used for death prior to retirement. Future improvement in mortality rates was assumed using the MP-2019 projection scale generationally. These rates of improvement were reduced by 20% for all years prior to the ultimate rate. \r\nThe actuarial assumptions used in the June 30, 2019 valuation were based on the results of an actuarial experience study for the period July 1, 2013  June 30, 2018. \r\n \r\nPublic School Employees Retirement System: \r\n \r\nInflation \r\n \r\n2.75% \r\n \r\nSalary increases \r\n \r\nN/A \r\n \r\nInvestment rate of return Post-retirement benefit increases \r\n \r\n7.30%, net of pension plan investment expense, including inflation 1.50% semi-annually \r\n \r\nPost-retirement mortality rates were based on 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) for the period after service retirements and for dependent beneficiaries. The RP-2000 Disabled Mortality projected to 2025 with projection scale BB (set forward 5 years for both males and females) was used for death after disability retirement. There is a margin for future mortality improvement in the tables used by the System. Based on the results of the most recent experience study adopted by the Board on December 17, 2015, the numbers of expected future deaths are 9-11% less than the actual number of deaths that occurred during the study period for healthy retirees and 9-11% less than expected under the selected table for disabled retirees. Rates of mortality in active service were based on the RP-2000 Employee Mortality Table projected to 2025 with projection scale BB. \r\n- 27 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nThe actuarial assumptions used in the June 30, 2019 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. \r\nThe long-term expected rate of return on TRS 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 returns, net of pension plan investment expense and 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. The target asset allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table: \r\n \r\nAsset Class \r\n \r\nTRS Target allocation \r\n \r\nPSERS Target allocation \r\n \r\nLong-term expected real rate of return* \r\n \r\nFixed income Domestic large stocks Domestic small stocks International developed market stocks Internantional emerging market stocks Alternative \r\n \r\n30.00% 51.00% \r\n1.50% 12.40% \r\n5.10% - \r\n \r\n30.00% 46.20% \r\n1.30% 12.40% \r\n5.10% 5.00% \r\n \r\n(0.10)% 8.90% 13.20% 8.90% 10.90% 12.00% \r\n \r\nTotal \r\n \r\n100.00% \r\n \r\n100.00% \r\n \r\n* Rates shown are net of the 2.75% assumed rate of inflation with the exception of TRS, which assumed a rate of 2.50% rate of inflation. \r\n \r\nDiscount Rate: The discount rate used to measure the total TRS pension liability was 7.25%. The discount rate used to measure the total PSERS pension liability was 7.30%. 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 nonemployer 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 and PSERS pension plans' fiduciary net position were 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. \r\n \r\nSensitivity of the School District's proportionate share of the net pension liability to changes in the discount rate: The following presents the School District's proportionate share of the net pension liability calculated using the discount rate of 7.25%, as well as what the School District'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%) or 1-percentage-point higher (8.25%) than the current rate: \r\n \r\nTeachers Retirement System: \r\n \r\n1% Decrease (6.25%) \r\n \r\nCurrent Discount Rate (7.25%) \r\n \r\n1% Increase (8.25%) \r\n \r\nSchool District's proportionate share of the \r\n \r\nnet pension liability \r\n \r\n$ \r\n \r\n29,062,769.00 $ \r\n \r\n18,327,329.00 $ \r\n \r\n9,527,346.00 \r\n \r\n- 28 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE BASIC FINANCIAL STATEMENTS \r\nJUNE 30, 2021 \r\n \r\nEXHIBIT \"G\" \r\n \r\nPension plan fiduciary net position: Detailed information about the pension plan's fiduciary net position is available in the separately issued TRS and PSERS financial report which is publicly available at www.trsga.com/publications and http://www.ers.ga.gov/financials. \r\nNOTE 15: RESTATEMENT OF PRIOR YEAR NET POSITION AND FUND BALANCE \r\nFor fiscal year 2021, the School District made prior period adjustments due to the adoption of GASB Statement No, 84, as described in \"New Accounting Pronouncements,\" which requires the restatement of the June 30, 2020 net position in governmental activities and fund balance in the general fund and fiduciary funds. These changes are in accordance with generally accepted accounting principles. \r\n \r\nNet Position, July 1, 2020 as previously reported \r\n \r\n$ \r\n \r\n(5,766,229.76) \r\n \r\nPrior Period Adjustment - Implementation of GASB No. 84: School Activity Account Reclassification \r\nNet Position, July 1, 2020, as restated \r\n \r\n73,789.17 $ (5,692,440.59) \r\n \r\nFund Balance (General Fund), July 1, 2020, as previously reported \r\nPrior Period Adjustment - Implementation of GASB No. 84: School Activity Account Reclassification Fund Balance (General Fund), July 1, 2020, as restated \r\n \r\n$ \r\n \r\n3,213,571.74 \r\n \r\n73,789.17 \r\n \r\n$ \r\n \r\n3,287,360.91 \r\n \r\nFunds Held for Others of $73,789.17, previously presented in Fiduciary Funds, was reclassified to Net Position and Fund Balance (General Fund). \r\n \r\n- 29 - \r\n \r\n (This page left intentionally blank) \r\n \r\n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY TEACHERS RETIREMENT SYSTEM OF GEORGIA \r\n \r\nSCHEDULE \"1\" \r\n \r\nFor the Year Ended \r\nJune 30 \r\n \r\nSchool District's proportion \r\nof the Net Pension Liability (NPL) \r\n \r\nSchool District's proportionate share of the NPL \r\n \r\nState of Georgia's proportionate \r\nshare of the NPL associated with \r\nthe School District \r\n \r\nTotal \r\n \r\nSchool District's covered payroll \r\n \r\nSchool District's proportionate share of the NPL as a percentage of its covered \r\npayroll \r\n \r\nPlan fiduciary net position \r\nas a percentage of the total \r\npension liability \r\n \r\n2021 2020 2019 2018 2017 2016 2015 \r\n \r\n0.075658% $ 18,327,329.00 $ 239,090.00 $ 18,566,419.00 $ 9,888,112.93 \r\n \r\n0.078097% $ 16,792,967.00 $ \r\n \r\n221,693.00 $ 17,014,660.00 $ 9,657,911.18 \r\n \r\n0.078119% $ 14,500,560.00 $ 193,046.00 $ 14,693,606.00 $ 9,444,838.90 \r\n \r\n0.077289% $ 14,364,399.00 $ \r\n \r\n88,094.00 $ 14,452,493.00 $ 8,928,966.37 \r\n \r\n0.081000% $ 16,711,203.00 $ \r\n \r\n- \r\n \r\n$ 16,711,203.00 $ 8,891,828.15 \r\n \r\n0.085361% $ 12,995,365.00 $ \r\n \r\n- \r\n \r\n$ 12,995,365.00 $ 9,010,349.20 \r\n \r\n0.086077% $ 10,874,694.00 $ \r\n \r\n- \r\n \r\n$ 10,874,694.00 $ 8,781,604.24 \r\n \r\n185.35% 173.88% 153.53% 160.87% 187.94% 144.23% 123.83% \r\n \r\n77.01% 78.56% 80.27% 79.33% 76.06% 81.44% 84.03% \r\n \r\nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \r\n \r\n- 31 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION \r\nSCHEDULE OF CONTRIBUTIONS TEACHERS RETIREMENT SYSTEM OF GEORGIA \r\n \r\nSCHEDULE \"2\" \r\n \r\nFor the Year Ended June 30 \r\n \r\nContractually required contribution \r\n \r\nContributions in relation to the contractually required contribution \r\n \r\nContribution deficiency (excess) \r\n \r\nSchool District's covered payroll \r\n \r\n2021 2020 2019 2018 2017 2016 2015 \r\n \r\n$ \r\n \r\n1,813,872.00 $ \r\n \r\n$ \r\n \r\n2,063,452.62 $ \r\n \r\n$ \r\n \r\n1,992,198.43 $ \r\n \r\n$ \r\n \r\n1,566,854.00 $ \r\n \r\n$ \r\n \r\n1,266,399.00 $ \r\n \r\n$ \r\n \r\n1,268,863.94 $ \r\n \r\n$ \r\n \r\n1,184,860.93 $ \r\n \r\n1,813,872.00 $ 2,063,452.62 $ 1,992,198.43 $ 1,566,854.00 $ 1,266,399.00 $ 1,268,863.94 $ 1,184,860.93 $ \r\n \r\n- \r\n \r\n$ \r\n \r\n9,604,892.92 \r\n \r\n- \r\n \r\n$ \r\n \r\n9,888,112.93 \r\n \r\n- \r\n \r\n$ \r\n \r\n9,657,911.18 \r\n \r\n- \r\n \r\n$ \r\n \r\n9,444,838.90 \r\n \r\n- \r\n \r\n$ \r\n \r\n8,928,966.37 \r\n \r\n- \r\n \r\n$ \r\n \r\n8,891,828.15 \r\n \r\n- \r\n \r\n$ \r\n \r\n9,010,349.20 \r\n \r\nContribution as a percentage of covered payroll \r\n18.88% 20.87% 20.63% 16.59% 14.18% 14.27% \r\n13.15% \r\n \r\nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \r\n \r\n- 32 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA \r\n \r\nSCHEDULE \"3\" \r\n \r\nFor the Year Ended \r\nJune 30 \r\n \r\nSchool District's proportion of the Net Pension Liability (NPL) \r\n \r\nSchool District's proportionate share of the NPL \r\n \r\nState of Georgia's proportionate \r\nshare of the NPL associated with the School District \r\n \r\n2021 2020 2019 2018 2017 2016 2015 \r\n \r\n0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ 0.00% $ \r\n \r\n- \r\n \r\n$ \r\n \r\n167,656.00 $ \r\n \r\n- \r\n \r\n$ \r\n \r\n167,020.00 $ \r\n \r\n- \r\n \r\n$ \r\n \r\n131,113.00 $ \r\n \r\n- \r\n \r\n$ \r\n \r\n147,035.00 $ \r\n \r\n- \r\n \r\n$ \r\n \r\n178,428.00 $ \r\n \r\n- \r\n \r\n$ \r\n \r\n110,965.00 $ \r\n \r\n- \r\n \r\n$ \r\n \r\n98,846.00 $ \r\n \r\nTotal \r\n \r\nSchool District's covered payroll \r\n \r\nSchool District's proportionate share of the NPL as a percentage of its covered \r\npayroll \r\n \r\nPlan fiduciary net position as a percentage \r\nof the total pension liability \r\n \r\n167,656.00 $ 167,020.00 $ \r\n131,113.00 $ 147,035.00 $ 178,428.00 $ 110,965.00 $ 98,846.00 $ \r\n \r\n318,810.15 320,317.34 307,414.03 334,920.33 282,307.57 273,965.88 253,172.53 \r\n \r\nN/A \r\n \r\n84.45% \r\n \r\nN/A \r\n \r\n85.02% \r\n \r\nN/A \r\n \r\n85.26% \r\n \r\nN/A \r\n \r\n85.69% \r\n \r\nN/A \r\n \r\n81.00% \r\n \r\nN/A \r\n \r\n87.00% \r\n \r\nN/A \r\n \r\n88.29% \r\n \r\nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \r\n \r\n- 33 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET OPEB LIABILITY \r\nSCHOOL OPEB FUND \r\n \r\nSCHEDULE \"4\" \r\n \r\nFor the Year Ended \r\nJune 30 \r\n \r\nSchool District's proportion of the Net OPEB Liability (NOL) \r\n \r\nSchool District's proportionate share of the NOL \r\n \r\nState of Georgia's proportionate share of the NOL associated with the School \r\nDistrict \r\n \r\nTotal \r\n \r\nSchool District's covered- \r\nemployee payroll \r\n \r\nSchool District's proportionate share of the \r\nNOL as a percentage of \r\nits coveredemployee payroll \r\n \r\nPlan fiduciary net position \r\nas a percentage of the total OPEB liability \r\n \r\n2021 2020 2019 2018 \r\n \r\n0.101855% $ 14,960,127.00 $ 0.105197% $ 12,909,929.00 $ 0.106227% $ 13,501,126.00 $ 0.105796% $ 14,864,296.00 $ \r\n \r\n- \r\n \r\n$ 14,960,127.00 $ 8,392,067.68 \r\n \r\n- \r\n \r\n$ 12,909,929.00 $ 8,080,443.72 \r\n \r\n- \r\n \r\n$ 13,501,126.00 $ 8,039,138.97 \r\n \r\n- \r\n \r\n$ 14,864,296.00 $ 7,642,002.71 \r\n \r\n178.27% 159.77% 167.94% 194.51% \r\n \r\n3.99% 4.63% 2.93% 1.61% \r\n \r\nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \r\n \r\n- 34 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION REQUIRED SUPPLEMENTARY INFORMATION \r\nSCHEDULE OF CONTRIBUTIONS SCHOOL OPEB FUND \r\n \r\nSCHEDULE \"5\" \r\n \r\nFor the Year Ended June 30 \r\n \r\nContractually required contribution \r\n \r\nContributions in relation to the contractually required \r\ncontribution \r\n \r\nContribution deficiency (excess) \r\n \r\nSchool District's covered-employee \r\npayroll \r\n \r\nContribution as a percentage of \r\ncovered-employee payroll \r\n \r\n2021 \r\n \r\n$ \r\n \r\n2020 \r\n \r\n$ \r\n \r\n2019 \r\n \r\n$ \r\n \r\n2018 \r\n \r\n$ \r\n \r\n373,860.00 $ 344,448.00 $ 566,562.00 $ 550,563.00 $ \r\n \r\n373,860.00 $ 344,448.00 $ 566,562.00 $ 550,563.00 $ \r\n \r\n- \r\n \r\n$ \r\n \r\n8,568,849.18 \r\n \r\n- \r\n \r\n$ \r\n \r\n8,392,067.68 \r\n \r\n- \r\n \r\n$ \r\n \r\n8,080,443.72 \r\n \r\n- \r\n \r\n$ \r\n \r\n8,039,138.97 \r\n \r\n4.36% 4.10% 7.01% 6.85% \r\n \r\nThis schedule is intended to show information for 10 years. Additional years will be displayed as they become available. \r\n \r\n- 35 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION \r\nFOR THE YEAR ENDED JUNE 30, 2021 \r\n \r\nSCHEDULE \"6\" \r\n \r\nTeachers Retirement System Changes of assumptions: In 2010 and later, the expectation of retired life mortality was changed to the RP2000 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. \r\n \r\nOn November 18, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to rates of mortality, retirement, disability, withdrawal and salary increases. The expectation of retired life \r\nlcllelCYYllllllCY projection scale BB (set forward one year for males). \r\n \r\nOn May 15, 2019, the Board adopted recommended changes from the smoothed valuation interest rate methodology that has been in effect since June 30, 2009, to a constant interest rate method. In conjunction with the methodology, the long-term assumed rate of return in assets (discount rate) has been changed from 7.50% to 7.25%, and the assumed annual rate of inflation has been reduced from 2.75% to 2.50%. \r\n \r\nIn 2019 and later, the expectation of retired life mortality was changed to the Pub-2010 Teacher Headcount Weighted Below Median Healthy Retiree mortality table from the RP-2000 Mortality Tables. In 2019, rates of withdrawal, retirement, disability and mortality were adjusted to more closely reflect actual experience. \r\n \r\nPublic School Employees Retirement System Changes of benefit terms: The member contribution rate was increased from $4.00 to $10.00 per month for members joining the System on or after July 1, 2012. The monthly benefit accrual rate was increased from $14.75 to $15.00 per year of credible service effective July 1, 2017. The monthly benefit accrual was increased from $15.00 to $15.25 per year of credible service effective July 1, 2018. The monthly benefit accrual was increased from $15.25 to $15.50 per year of credible service effective July 1, 2019. A 2% cost-of-living adjustment (COLA) was granted to certain retirees and beneficiaries effective July 2016, another July 2017, and another July 2018. Two 1.5% COLAs were granted to certain retirees and beneficiaries effective July 2019 and January 2020. \r\nChanges of assumptions: JllCClclel 1994 Group Annuity Mortality Table, which was used prior to 2010. In 2010, rates of withdrawal, retirement, disability and mortality were adjusted to llCY \r\nOn December 17, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to rates of mortality, retirement and withdrawal. The expectation of retired life mortality was changed to the YlelllllClClClC \r\nOn 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. The assumed investment rate of return remained at 7.30% for the June 30, 2019 valuation. \r\n \r\n- 36 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION \r\nFOR THE YEAR ENDED JUNE 30, 2021 \r\n \r\nSCHEDULE \"6\" \r\n \r\nSchool OPEB Fund Changes of benefit terms: There have been no changes in benefit terms. \r\nChanges in assumptions: 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 State OPEB fund based on their last employer payroll location; irrespective of retirement affiliation. \r\nThe June 30, 2019 decremental valuation were changed to reflect the Teachers Retirement Systems experience study. \r\nThe 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, to 3.58% as of June 30, 2019, and to 2.22% as of June 30, 2020. \r\n \r\n- 37 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION GENERAL FUND \r\nSCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL \r\nYEAR ENDED JUNE 30, 2021 \r\n \r\nSCHEDULE \"7\" \r\n \r\nREVENUES Property Taxes Sales Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous Total Revenues \r\nEXPENDITURES Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Enterprise Operations Food Services Operation Total Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES(USES) Operating Transfers From Other Funds Operating Transfers To Other Funds Total Other Financing Sources (Uses) \r\nNet Change in Fund Balances \r\nFund Balances - Beginning (Restated) \r\nAdjustments \r\nFund Balances - Ending \r\n \r\nNONAPPROPRIATED BUDGETS \r\n \r\nORIGINAL (1) \r\n \r\nFINAL (1) \r\n \r\n$ \r\n \r\n2,890,000.00 $ \r\n \r\n2,890,000.00 $ \r\n \r\n- \r\n \r\n- \r\n \r\n13,576,966.00 \r\n \r\n14,571,264.00 \r\n \r\n2,062,193.58 \r\n \r\n3,164,758.00 \r\n \r\n34,000.00 \r\n \r\n34,000.00 \r\n \r\n22,900.00 \r\n \r\n22,900.00 \r\n \r\n90,432.00 \r\n \r\n90,432.00 \r\n \r\n18,676,491.58 \r\n \r\n20,773,354.00 \r\n \r\n11,683,205.81 \r\n1,044,006.09 744,018.59 267,390.05 422,598.36 1,184,770.18 226,656.49 1,189,187.80 824,852.20 17,000.00 104,072.00 3,000.00 \r\n1,035,524.00 18,746,281.57 \r\n(69,789.99) \r\n \r\n11,892,467.16 \r\n1,128,932.09 822,501.99 267,390.05 422,598.36 1,184,770.18 226,656.49 1,720,119.80 831,521.20 17,000.00 116,365.00 3,000.00 \r\n1,035,524.00 19,668,846.32 \r\n1,104,507.68 \r\n \r\n207,713.00 (657,713.00) (450,000.00) \r\n \r\n232,385.00 (682,385.00) (450,000.00) \r\n \r\n(519,789.99) \r\n \r\n654,507.68 \r\n \r\n2,943,571.74 \r\n \r\n2,943,571.74 \r\n \r\n1,759.85 \r\n \r\n(7,340.90) \r\n \r\n$ \r\n \r\n2,425,541.60 $ \r\n \r\n3,590,738.52 $ \r\n \r\nACTUAL AMOUNTS \r\n \r\nVARIANCE OVER/UNDER \r\n \r\n3,721,049.77 $ 90,301.45 \r\n14,658,868.72 3,724,018.07 77,361.54 12,752.40 475,463.85 \r\n22,759,815.80 \r\n \r\n831,049.77 90,301.45 87,604.72 559,260.07 43,361.54 (10,147.60) 385,031.85 1,986,461.80 \r\n \r\n11,699,474.22 \r\n1,086,312.92 632,771.39 262,201.19 467,496.45 \r\n1,239,769.00 204,340.21 \r\n2,173,530.23 1,086,037.68 \r\n10,882.01 142,004.32 \r\n5,256.57 1,218,671.72 20,228,747.91 2,531,067.89 \r\n(1,576,637.36) (1,576,637.36) \r\n954,430.53 \r\n3,287,360.91 \r\n- \r\n4,241,791.44 $ \r\n \r\n192,992.94 \r\n42,619.17 189,730.60 \r\n5,188.86 (44,898.09) (54,998.82) \r\n22,316.28 (453,410.43) (254,516.48) \r\n6,117.99 (25,639.32) \r\n(2,256.57) (183,147.72) (559,901.59) 1,426,560.21 \r\n(232,385.00) (894,252.36) (1,126,637.36) \r\n299,922.85 \r\n343,789.17 \r\n7,340.90 \r\n651,052.92 \r\n \r\nNotes to the Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual \r\n(1) Original and Final Budget amounts do not include the budgeted revenues or expenditures of the various principal accounts. The actual revenues and expenditures of the various principal accounts are $288,691.24 and $257,292.49, respectively. \r\nThe accompanying schedule of revenues, expenditures and changes in fund balances budget and actual is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the fund financial statements. \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 38 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 30, 2021 \r\n \r\nSCHEDULE \"8\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\nAgriculture, U. S. Department of Child Nutrition Cluster Pass-Through From Georgia Department of Education Food Services School Breakfast Program National School Lunch Program Total U.S. Department of Agriculture \r\nEducation, U. S. Department of Direct Impact Aid \r\nEducation Stabilization Fund Pass-Through From Georgia Department of Education COVID-19 - Elementary and Secondary School Emergency Relief Fund COVID-19 - American Rescue Plan Elementary and Secondary School Emergency Relief Fund Total Education Stabilization Fund \r\nSpecial Education Cluster Pass-Through From Georgia Department of Education Special Education Grants to States Grants to States Preschool Grants Total Special Education Cluster \r\nOther Programs Pass-Through From Georgia Department of Education Career and Technical Education - Basic Grants to States Comprehensive Literacy Development Migrant Education - State Grant Program Migrant Education - State Grant Program Student Support and Academic Enrichment Program Supporting Effective Instruction State Grants Supporting Effective Instruction State Grants Title I Grants to Local Educational Agencies Title I Grants to Local Educational Agencies Total Other Programs Total U. S. Department of Education \r\nHealth and Human Services, U.S. Department of Child Care and Development Fund Cluster Pass-Through From Bright From the Start Georgia Department of Early Care and Learning Child Care and Development Block Grant \r\nTotal Expenditures of Federal Awards \r\n \r\nASSISTANCE LISTING NUMBER \r\n \r\nPASSTHROUGH \r\nENTITY ID \r\nNUMBER \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n10.553 10.555 \r\n \r\n215GA324N1199 $ 215GA324N1199 \r\n \r\n358,288.62 792,533.18 1,150,821.80 \r\n \r\n84.041B \r\n \r\n18,767.00 \r\n \r\n84.425D 84.425U \r\n \r\nS425D200012 S425U210012 \r\n \r\n818,921.00 \r\n73,737.53 892,658.53 \r\n \r\n84.027A 84.027A 84.173A \r\n \r\nH027A190073 H027A200073 H173A200081 \r\n \r\n84.048A 84.371C 84.011 84.011 84.424A 84.367A 84.367A 84.010A 84.010A \r\n \r\nV048A200010 S371C190016-19A \r\nS011A190011 S011A200011 S424A200011 S367A190001 S367A200001 S010A190010 S010A200010 \r\n \r\n51,407.00 296,555.47 \r\n13,093.00 361,055.47 \r\n34,288.00 363,977.79 \r\n17,649.00 29,428.17 60,784.84 24,672.00 81,954.00 124,931.00 590,192.40 1,327,877.20 2,600,358.20 \r\n \r\n93.575 \r\n \r\n8,116.00 \r\n \r\n$ \r\n \r\n3,759,296.00 \r\n \r\n- 39 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 30, 2021 \r\n \r\nSCHEDULE \"8\" \r\n \r\nNotes to the Schedule of Expenditures of Federal Awards \r\nNote 1. Basis of Presentation \r\nThe accompanying schedule of expenditures of federal awards (the \"Schedule\") includes the federal award activity of the Lanier County Board of Education (the \"Board\") under programs of the federal government for the year ended June 30, 2021. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Board, it is not intended to and does not present the financial position or changes in net position of the Board. \r\nNote 2. Summary of Significant Accounting Policies \r\nExpenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. \r\nNote 3. Indirect Cost Rate \r\nThe Board has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. \r\nNote 4. Donated Personal Protective Equipment \r\nIn response to the COVID-19 pandemic, the federal government donated personal protective equipment (PPE) to Georgia Emergency Management and Homeland Security Agency (GEMA/HS). GEMA/HS, then, donated PPE with an estimated fair market value of $23,950 to the Lanier County Board of Education. This amount is not included in the Schedule of Expenditures of Federal Awards and is not subject to audit. Therefore, this amount is unaudited. \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 40 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2021 \r\n \r\nSCHEDULE \"9\" \r\n \r\nAGENCY/FUNDING GRANTS Bright From the Start: Georgia Department of Early Care and Learning Pre-Kindergarten Program Education, Georgia Department of Quality Basic Education Direct Instructional Cost Kindergarten Program Kindergarten Program - Early Intervention Program Primary Grades (1-3) Program Primary Grades - Early Intervention (1-3) Program Upper Elementary Grades (4-5) Program Upper Elementary Grades - Early Intervention (4-5) Program Middle School (6-8) Program High School General Education (9-12) Program Vocational Laboratory (9-12) Program Students with Disabilities Gifted Student - Category VI Remedial Education Program Alternative Education Program English Speakers of Other Languages (ESOL) Media Center Program 20 Days Additional Instruction Staff and Professional Development Principal Staff and Professional Development Indirect Cost Central Administration School Administration Facility Maintenance and Operations Mid-term Adjustment Hold-Harmless Amended Formula Adjustment Categorical Grants Pupil Transportation Regular Nursing Services Sparsity Education Equalization Funding Grant Other State Programs Food Services Hygiene Products Math and Science Supplements Preschool Disability Services School Safety Grant Teachers Retirement Vocational Education Vocational Supervisors Georgia Emergency Management Agency Donations to LEA for COVID Georgia State Financing and Investment Commission Reimbursement on Construction Projects Office of the State Treasurer Public School Employees Retirement CONTRACTS Human Resources, Georgia Department of Family Connection \r\nPromoting Safe and Stable Families \r\nSee notes to the basic financial statements. \r\n \r\nGOVERNMENTAL \r\n \r\nFUND TYPES \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n390,735.50 $ \r\n \r\n- \r\n \r\n$ \r\n \r\n390,735.50 \r\n \r\n321,531.00 479,010.00 883,194.00 676,426.00 414,323.00 \r\n612,114.00 1,208,528.00 \r\n841,226.00 473,666.00 2,060,640.00 514,882.00 251,292.00 86,340.00 \r\n49,749.00 212,088.00 \r\n62,753.00 41,463.00 \r\n1,240.00 \r\n457,762.00 565,970.00 456,215.00 \r\n96,229.00 (447,076.00) \r\n \r\n- \r\n \r\n321,531.00 \r\n \r\n- \r\n \r\n479,010.00 \r\n \r\n- \r\n \r\n883,194.00 \r\n \r\n- \r\n \r\n676,426.00 \r\n \r\n- \r\n \r\n414,323.00 \r\n \r\n- \r\n \r\n612,114.00 \r\n \r\n- \r\n \r\n1,208,528.00 \r\n \r\n- \r\n \r\n841,226.00 \r\n \r\n- \r\n \r\n473,666.00 \r\n \r\n- \r\n \r\n2,060,640.00 \r\n \r\n- \r\n \r\n514,882.00 \r\n \r\n- \r\n \r\n251,292.00 \r\n \r\n- \r\n \r\n86,340.00 \r\n \r\n- \r\n \r\n49,749.00 \r\n \r\n- \r\n \r\n212,088.00 \r\n \r\n- \r\n \r\n62,753.00 \r\n \r\n- \r\n \r\n41,463.00 \r\n \r\n- \r\n \r\n1,240.00 \r\n \r\n- \r\n \r\n457,762.00 \r\n \r\n- \r\n \r\n565,970.00 \r\n \r\n- \r\n \r\n456,215.00 \r\n \r\n96,229.00 \r\n \r\n- \r\n \r\n(447,076.00) \r\n \r\n247,834.00 45,000.00 35,802.00 3,349,736.00 \r\n29,618.00 1,091.00 \r\n10,774.00 27,814.00 14,594.28 18,039.16 45,814.00 6,825.00 \r\n19,314.88 \r\n \r\n- \r\n \r\n247,834.00 \r\n \r\n- \r\n \r\n45,000.00 \r\n \r\n- \r\n \r\n35,802.00 \r\n \r\n- \r\n \r\n3,349,736.00 \r\n \r\n- \r\n \r\n29,618.00 \r\n \r\n- \r\n \r\n1,091.00 \r\n \r\n- \r\n \r\n10,774.00 \r\n \r\n- \r\n \r\n27,814.00 \r\n \r\n- \r\n \r\n14,594.28 \r\n \r\n- \r\n \r\n18,039.16 \r\n \r\n- \r\n \r\n45,814.00 \r\n \r\n- \r\n \r\n6,825.00 \r\n \r\n- \r\n \r\n19,314.88 \r\n \r\n25,110.00 \r\n \r\n866,823.90 - \r\n \r\n866,823.90 25,110.00 \r\n \r\n58,000.00 13,201.90 \r\n$ 14,658,868.72 $ \r\n \r\n- \r\n866,823.90 $ \r\n \r\n58,000.00 13,201.90 \r\n15,525,692.62 \r\n- 41 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nYEAR ENDED JUNE 30, 2021 \r\n \r\nSCHEDULE \"10\" \r\n \r\nPROJECT SPLOST V i) To repay previously incurred debt on the issuance or \r\nsale of obligation bonds; \r\nii) Adding to, renovating, repairing, improving, and equipping existing school buildings and other buildings and facilities; \r\niii) Acquiring technology improvements for existing schools, including safety and security improvements, computer technology, hardware and software; \r\niv) Acquiring school buses, maintenance vehicles and equipment; \r\nv) Acquiring any necessary property therefor, both real and personal; \r\nvi) Acquire band instruments, textbooks and instructional materials; \r\nvii) To pay expenses incident to accomplishing the foregoing. \r\nTotal \r\n \r\nORIGINAL ESTIMATED \r\nCOST (1) \r\n \r\nCURRENT ESTIMATED COSTS (2) \r\n \r\nESTIMATED COMPLETION \r\nDATE \r\n \r\n$ 2,000,000.00 $ 2,000,000.00 \r\n \r\n12/31/2024 \r\n \r\n1,000,000.00 \r\n \r\n1,000,000.00 \r\n \r\n12/31/2024 \r\n \r\n500,000.00 \r\n \r\n500,000.00 \r\n \r\n12/31/2024 \r\n \r\n500,000.00 \r\n \r\n500,000.00 \r\n \r\n12/31/2024 \r\n \r\n500,000.00 250,000.00 \r\n \r\n500,000.00 250,000.00 \r\n \r\n12/31/2024 12/31/2024 \r\n \r\n250,000.00 \r\n \r\n250,000.00 \r\n \r\n$ 5,000,000.00 $ 5,000,000.00 \r\n \r\n12/31/2024 \r\n \r\n- 42 - \r\n \r\n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nYEAR ENDED JUNE 30, 2021 \r\n \r\nSCHEDULE \"10\" \r\n \r\nPROJECT SPLOST V i) To repay previously incurred debt on the issuance or \r\nsale of obligation bonds; \r\nii) Adding to, renovating, repairing, improving, and equipping existing school buildings and other buildings and facilities; \r\niii) Acquiring technology improvements for existing schools, including safety and security improvements, computer technology, hardware and software; \r\niv) Acquiring school buses, maintenance vehicles and equipment; \r\nv) Acquiring any necessary property therefor, both real and personal; \r\nvi) Acquire band instruments, textbooks and instructional materials; \r\nvii) To pay expenses incident to accomplishing the foregoing. \r\n \r\nAMOUNT EXPENDED IN CURRENT YEAR (3) \r\n \r\nAMOUNT EXPENDED IN PRIOR YEARS (3) \r\n \r\nTOTAL COMPLETION \r\nCOST \r\n \r\nEXCESS PROCEEDS NOT \r\nEXPENDED \r\n \r\n$ \r\n \r\n565,145.60 $ \r\n \r\n412,290.52 $ \r\n \r\n- $ \r\n \r\n- \r\n \r\n1,029,815.02 \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n- \r\n \r\n$ \r\n \r\n1,594,960.62 $ \r\n \r\n412,290.52 $ \r\n \r\n- \r\n \r\n$ \r\n \r\n- \r\n \r\n(1) The School District's original cost estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax. (2) The School District's current estimate of total cost for the projects. Includes all cost from project inception to completion. (3) The voters of Lanier County approved the imposition of a 1% sales tax to fund the above projects and retire associated debt. \r\nAmounts expended for these projects may include sales tax proceeds, state, local property taxes and/or other funds over the life of the projects. \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 43 - \r\n \r\n Section II Compliance and Internal Control Reports \r\n \r\n Greg S. Griffin State Auditor \r\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 \r\nThe Honorable Brian P. Kemp, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the State Board of Education \r\nand Mrs. Anita Watson, Superintendent and Members of the Lanier County Board of Education \r\nWe have audited the financial statements of the governmental activities and each major fund of the Lanier County Board of Education (School District), as of and for the year ended June 30, 2021, and the related notes to the financial statements, which collectively comprise the School District's basic financial statements, and have issued our report thereon dated April 12, 2022. We conducted our audit in accordance with the 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. \r\nInternal Control Over Financial Reporting \r\nIn planning and performing our audit of the financial statements, we considered the School District's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the basic financial statements, but not for the purpose of expressing an opinion on the effectiveness of the School District's internal control. Accordingly, we do not express an opinion on the effectiveness of the School District's internal control. \r\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 School District'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. \r\nOur consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. \r\n270 Washington Street, SW, Suite 4-101 Atlanta, Georgia 30334 | Phone (404) 656-2180 \r\n \r\n Compliance and Other Matters \r\nAs part of obtaining reasonable assurance about whether the School District'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 financial statements. 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. \r\nPurpose of this Report \r\nThe 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 School District'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 School District's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. \r\nRespectfully submitted, \r\nGreg S. Griffin State Auditor \r\nApril 12, 2022 \r\n \r\n Greg S. Griffin State Auditor \r\nINDEPENDENT AUDITOR'S REPORT ON COMPLIANCE FOR EACH MAJOR FEDERAL PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE \r\nThe Honorable Brian P. Kemp, Governor of Georgia Members of the General Assembly of the State of Georgia Members of the State Board of Education \r\nand Mrs. Anita Watson, Superintendent and Members of the Lanier County Board of Education \r\nReport on Compliance for Each Major Federal Program \r\nWe have audited the Lanier County Board of Education's (School District) compliance with the types of compliance requirements described in the OMB Compliance Supplement that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2021. The School District's major federal programs are identified in the Summary of Auditor's Results section of the accompanying Schedule of Findings and Questioned Costs. \r\nManagement's Responsibility \r\nManagement is responsible for compliance with federal statutes, regulations, and the terms and conditions of its federal awards applicable to its federal programs. \r\nAuditor's Responsibility \r\nOur responsibility is to express an opinion on compliance for each of the School District'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 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 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 the School District's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. \r\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 of the School District's compliance. \r\n270 Washington Street, SW, Suite 4-101 Atlanta, Georgia 30334 | Phone (404) 656-2180 \r\n \r\n Opinion on Each Major Federal Program \r\nIn our opinion, the School District complied, in all material respects, with the types of 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, 2021. \r\nReport on Internal Control over Compliance \r\nManagement of the School District 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 the School District's internal control over compliance with the types of requirements that could have a direct and material effect on each major federal program to determine the 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 the School District's internal control over compliance. \r\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 a 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. \r\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. \r\nThe 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. \r\nRespectfully submitted, \r\nGreg S. Griffin State Auditor \r\nApril 12, 2022 \r\n \r\n Section III Auditee's Response to Prior Year Findings and Questioned Costs \r\n \r\n LANIER COUNTY BOARD OF EDUCATION AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2021 \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS No matters were reported. PRIOR YEAR FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported. \r\n \r\n Section IV Findings and Questioned Costs \r\n \r\n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 2021 I SUMMARY OF AUDITOR'S RESULTS \r\n \r\nFinancial Statements \r\n \r\nType of auditor's report issued: Governmental Activities and Each Major Fund \r\n \r\nInternal control over financial reporting:  Material weakness(es) identified?  Significant deficiency(ies) identified? \r\nNoncompliance material to financial statements noted: \r\n \r\nFederal Awards \r\n \r\nInternal Control over major programs: \r\n Material weakness(es) identified?  Significant deficiency(ies) identified? \r\n \r\nType of auditor's report issued on compliance for major programs: All major programs \r\n \r\nAny audit findings disclosed that are required to be reported in accordance with 2 CFR 200.516(a)? \r\nIdentification of major programs: \r\n \r\nAssistance Listing Number Assistance Listing Program or Cluster Title \r\n \r\n10.553, 10.555 84.425 \r\n \r\nChild Nutrition Cluster Education Stabilization Fund \r\n \r\nDollar threshold used to distinguish between Type A and Type B programs: \r\n \r\nAuditee qualified as low-risk auditee? \r\n \r\nII FINANCIAL STATEMENT FINDINGS No matters were reported. Ill FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported. \r\n \r\nUnmodified No \r\nNone Reported No \r\nNo None Reported \r\nUnmodified No \r\n$750,000.00 Yes \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1998-h99","title":"Audit report, Lanier County Board of Education, Lakeland, Georgia, year ended June 30, 1999","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Lanier County, 31.03789, -83.06265"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1999-06-30"],"dcterms_description":["Began with: Fiscal year 2021.","Report year covers fiscal year.","May have supplement: Salaries and travel reimbursement (Lanier County Board of Education, Ga.)"],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Dept. of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Auditors' reports--Georgia","Financial statements--Georgia","Lanier County (Ga.). Board of Education--Appropriations and expenditures"],"dcterms_title":["Audit report, Lanier County Board of Education, Lakeland, Georgia, year ended June 30, 1999"],"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-bl28-b1998-h99"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1998-h99"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"\u003cJln \nA 'Boo . RI \n2b \nL2\u0026 \n19 9 8 -'1 Cj \nAUDIT REPORT LANIER COUNTY BOARD OF EDUCATION \nLAKELAND,GEORGIA YEAR ENDED JUNE 30, 1999 \nSTATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \n254 WASHINGTON STREET \nATLANTA, GEORGIA 30334-8400 \n \n LANIER COUNTY BOARD OF EDUCATION -TABLE OF CONTENTS- \n \nSECTION I \n \nFINANCIAL \n \nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \n \nEXHIBITS \n \nGENERAL PURPOSE FINANCIAL STATEMENTS \n \nCOMBINED STATEMENTS-OVERVIEW \n \nA \n \nCOMBINED BALANCE SHEET \n \nALL FUND TYPES AND ACCOUNT GROUP \n \n2 \n \nB \n \nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \n \nCHANGES IN FUND BALANCES \n \nALL GOVERNMENTAL FUND TYPES \n \n4 \n \nC \n \nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \n \nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \n \n(NON-GAAP BASIS) \n \nGENERAL AND SPECIAL REVENUE FUNDS \n \n5 \n \nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \n6 \n \nADDmONAL FINANCIAL INFORMATION \n \nCOMBINING STATEMENTS \n \nSPECIAL REVENUE FUND \n \nE \n \nCOMBINING BALANCE SHEET \n \n16 \n \nF \n \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \n \nAND CHANGES IN FUND BALANCES \n \n18 \n \nCAPITAL PROJECTS FUND \n \nG \n \nCOMBINING BALANCE SHEET \n \n20 \n \nH \n \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \n \nAND CHANGES IN FUND BALANCES \n \n22 \n \nSCHEDULES \n \n1 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \n \n24 \n \n2 SCHEDULE OF STATE REVENUE \n \n26 \n \n3 SCHEDULE OF EXPENDITURES \n \nLOTTERY PROGRAMS \n \n27 \n \nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \n \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \n \n4 \n \nOVERALL \n \n29 \n \n5 \n \nBYPROGRAM \n \n30 \n \n LANIER COUNTY BOARD OF EDUCATION -TABLE OF CONTENTS- \nSECTION IT COMPLIANCE AND INTERNAL CONTROL REPORTS REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULAR A-133 \nSECTION ID AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \nSECTIONN FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS \n \n SECTION I FINANCIAL \n \n w. RUSSELL \n \nHINTON \n \nSTATE AUDITOR \n \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMarch 1, 2000 \n \nHonorable Roy E. Barnes, Governor Members of the General Assembly Members ofthe State Board of Education \nand Superintendent and Members of the Lanier County Board of Education \nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \nLadies and Gentlemen: \nWe have audited the accompanying general purpose financial statements of the Lanier County Board of Education, as of and for the year ended June 30, 1999, as listed in the table of contents. These general purpose financial statements are the responsibility of the Lanier County Board of Education's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. \nWe conducted our audit in accordance with generally accepted auditing standards and the standards applicable \nto financial audits contained in Government Auditini Standards, issued by the Comptroller General of the \nUnited States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \nAs described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \n* The general purpose financial statements of the Board did not contain a General Fixed Assets \nAccount Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. \n \n99ARL-13 \n \n * School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. \n* The Board did not recognize as expenditures, in the year ended June 30, 1999, a portion of salaries \nand the corresponding employer's cost ofrelated benefits earned for contractual services completed prior to June 30, 1999. Also funds received, subsequent to June 30, 1999, from the Georgia Department of Education for the State's share ofthese unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1998, were improperly recorded in the year ended June 30, 1999. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \nThe aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material. \nIn our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements referred to above present fairly, in all material respects, the financial position ofthe Lanier County Board ofEducation as ofJune 30, 1999, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. \nIn accordance with Government Auditing Standards, we have also issued our report dated March 1, 2000, on \nour consideration ofthe Lanier County Board ofEducation's internal control over financial reporting and our tests of its compliance with certain provisions oflaws, regulations, contracts and grants. \nOur audit was performed for the purpose of forming an opinion on the general purpose financial statements of the Lanier County Board of Education taken as a whole. The accompanying combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 5), which includes the Schedule of Expenditures of Federal Awards as required by U.S. Office of Management and Budget Circular A-133, Audits ofStates, Local Governments, and Non-Profit Organizations, are presented for purposes of additional analysis and are not a required part of the general purpose financial statements. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and in our opinion, except for the effects ofthe matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. \nA copy of this report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \nRespectfully submitted, \n~ ~ Q ,'\u003cclA L\u003cl. \n~ell W. Hinton State Auditor \nRWH:jb 99ARL-13 \n \n LANIER COUNTY BOARD OF EDUCATION \n \n LANIER COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET \nALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 1999 \n \nASSETS \nCash and Cash Equivalents \nInvestments \nAccounts Receivable \nPrepaid Items \nInventories Food Donated Commodities Purchased Food \nAmount to be Provided in Future Years For Payment of Capital Lease Agreements \n \nGOVERNMENTAL FUND \n \nSPECIAL \n \nGENERAL \n \nREVENUE \n \nFUND \n \nFUND \n \n$ \n \n152,921.26 $ \n \n162,937.11 \n \n520,150.00 \n \n109,297.51 \n \n177,622.23 \n \n4,750.74 \n \n4,282.43 1,065.86 \n \nTotal Assets \n \n$ \n \n787,119.51 $ \n \n345,907.63 \n \nLIABILITIES AND FUND EQUITY \nLIABILITIES \nAccounts Payable Salaries Payable Notes Payable Expired Grant Balances Payable Unearned Revenue Capital Lease Agreements \nTotal Liabilities \nFUND EQUITY \nFund Balances Reserved For State Capital Outlay For SPLOST Projects For Bus Replacement Funds For Continuation of Federal Programs For Continuation of State Programs For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated \nTotal Fund Equity \n \n$ \n \n113,068.41 $ \n \n39,817.99 \n \n1,250.00 \n \n123,619.16 \n \n520,150.00 \n \n2,028.32 \n \n$ \n \n634.468.41 $ \n \n165.465.47 \n \n$ \n \n42,115.74 \n \n$ \n \n11,678.30 \n \n4,282.43 1,065.86 \n \n110.535.36 \n \n163.415.57 \n \n$ \n \n152.651.10 $ \n \n180A42.16 \n \nTotal Liabilities and Fund Equity \n \n$ \n \nThe notes to the general purpose financial statements are an integral part of this statement. -2- \n \n787,119.51 $ \n \n345,907.63 \n \n EXHIBIT\"A\" \n \nTYPES CAPITAL \nPROJECTS FUND \n \n$ \n \n84,615.45 \n \n46,047.02 \n \nACCOUNT GROUP GENERAL \nLONG-TERM DEBT \n \nTOTALS \n \n(Memorandum Only) \n \nJUNE 30, 1999 \n \nJUNE 30, 1998 \n \n$ \n \n400,473.82 $ \n \n970,066.61 \n \n520,150.00 \n \n582,950.00 \n \n332,966.76 \n \n382,427.93 \n \n4,750.74 \n \n4,750.74 \n \n- - - - - - $ ______28__5\"\"\",2..8..7__._7__7_ \n \n4,282.43 1,065.86 \n285,287.77 \n \n7,037.59 1,058.12 \n366,882.66\" \n \n$ \n \n130,662.47 $ \n \n285,287.77 $ 1,548,977.38 $ 2,315,173.65 \n \n$ \n \n152,886.40 $ \n \n118,240.70 \n \n124,869.16 \n \n117,807.56 \n \n520,150.00 \n \n582,950.00 \n \n2,028.32 \n \n6,437.14 \n \n668,889.00 \n \n$ \n \n285,287.77 \n \n285,287.77 \n \n366,882.66 \n \n$ \n \n285,287.77 $ 1,085,221.65 $ 118611207.06 \n \n$ \n \n37,937.00 \n \n67,142.62 \n \n25,582.85 \n \n$ \n \n1301662.47 \n \n$ \n \n130,662.47 $ \n \n$ \n \n37,937.00 \n \n67,142.62 \n \n42,115.74 $ \n \n9,641.74 \n \n11,678.30 \n \n4,946.72 \n \n25,000.00 \n \n4,282.43 1,065.86 \n \n1,058.12 7,037.59 \n \n2991533.78 \n \n4061282.42 \n \n$ \n \n463z755.73 $ \n \n4531966.59 \n \n285,287.77 $ 1,548,977.38 $ 2,315,173.65 \n \n-3- \n \n LANl!;R QQUNTY BQARD QF EQUQATIQN COMBINED STATEMENT QF REVENUES, ~PENDITURES A~D QHAN~ES IN FU~D BALANQES \nALL ~mERNMENTAL FUND TYPl;S YEAR ENDED JUNE 30, 1999 \n \nEXHIBIT\"B\" \n \nREVENUES \n \nGENERAL FUND \n \nSPECIAL REVENUE \nFUND \n \nCAPITAL PROJECTS \nFUND \n \nTOTALS \n \n{Memorandum Onl~l YEAR ENDED \n \nJUNE 301 1999 \n \nJUNE 30, 1998 \n \nState Funds Federal Funds Taxes Other Funds \n \n$ 5,524,600.67 $ 2,287.27 \n1,367,976.20 104,025.63 \n \n420,760.07 948,678.94 \n$ 200,314.71 \n \n$ 67,142.62 \n \n5,945,360.74 $ 950,966.21 \n1,435, 118.82 304,340.34 \n \n5,750,975.50 901,732.91 \n1,213,608.10 348,375.00 \n \nTotal Revenues \n \n$ 6,998,889.77 $ 1,569,753.72 $ \n \n67,142.62 $ 8,635,786.11 $ 8,214,691.51 \n \nEXPENDITURES \n \nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enterprise Operations Community Services Operations \nCapital Outlay Debt Service \nPrincipal Interest \n \n$ 4,255,085.02 $ \n409,255.15 328,187.73 187,225.32 193,669.53 485,513.65 150,509.66 582,758.25 220,901.16 \n5,589.28 1,763.08 \n24,891.94 4,070.13 5,500.00 \n81,594.89 23,716.99 \n \n657,148.96 $ \n106,067.06 77,440.78 10,943.05 68,509.12 \n12,271.08 8,219.67 \n74,774.99 647,643.06 \n \n0.00 $ 4,912,233.98 $ 4,726,027.97 \n \n515,322.21 405,628.51 198,168.37 262,178.65 485,513.65 150,509.66 595,029.33 229,120.83 \n5,589.28 76,538.07 647,643.06 24,891.94 \n4,070.13 5,500.00 \n \n523,191.48 371,100.13 175,095.59 268,310.19 495,654.51 146,031.69 475,661.82 275,164.12 \n5,557.80 71,275.18 612,412.62 26,234.87 \n3,225.12 21,879.10 \n \n81,594.89 23,716.99 \n \n73,515.63 28,516.01 \n \nTotal Expenditures \n \n$ 6,960,231.78 $ 1,663,017.77 $ \n \n0.00 $ 8,623,249.55 $ 8,298,853.83 \n \nExcess of Revenues over (under) Expenditures \n \n$ \n \n38,657.99 $ \n \n-93~64.05 $ \n \n67,142.62 $ \n \n12,536.56 $ \n \n-84,162.32 \n \nQTHER Fl~ANCIN12 SQURCES (USl;Sl \n \nCapital Leases Operating Transfers In Operating Transfers Out \n \n$ $ -100,140.79 \n \n62,203.79 $ \n \n37,937.00 $ \n \n$ 100,140.79 -100,140.79 \n \n14,882.00 28,041.78 -28,041.78 \n \nTotal Other Financing Sources (Uses) \n \n$ -100, 140.79 $ \n \n62,203.79 $ \n \n37,937.00 $ \n \n0.00 $ \n \n14,882.00 \n \nExcess of Revenues and Other Financing Sources over,(under) Expenditures and Other Financing Uses $ \n \n-61,482.80 $ \n \n-31,060.26 $ \n \n105,079.62 $ \n \n12,536.56 $ \n \n-69,280.32 \n \nFUND BALANCE JULY 1 \n \n214,133.90 \n \n214,249.84 \n \n25,582.85 \n \n453,966.59 \n \n530,433.26 \n \nFood Inventory - Net Change in Period Donated Commodities Purchased Food \n \n-2,755.16 7.74 \n \n-2,755.16 7.74 \n \n-6,476.89 -709.46 \n \nFUND BALANCE JUNE 30 \n \n$ \n \n152.651.10 $ 180.442.16 $ \n \n130.662.47 $ \n \n463-755.73 $ \n \n453.966.59 \n \nThe notes to the general purpose financial statements are an integral part of this statement -4- \n \n LANIER COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \nBUDGET AND ACTUAL - {NON-GAAP BASIS} GENERAL AND SPECIAL REVENUE FUNDS \nYEAR ENDED JUNE 30, 1999 \n \nEXHIBIT\"C\" \n \nGENERAL FUND \n \nACTUAL \n \n(BUDGET \n \nBUDGET \n \nBASIS) \n \nREVENUES \n \nState Funds Federal Funds Taxes Other Funds \n \n$ 5,426,780.65 $ 5,524,600.67 \n \n2,287.27 \n \n1,252,064.86 \n \n1,367,976.20 \n \n36,300.00 \n \n104,025.63 \n \nTotal Revenues \n \n$ 6,715,145.51 $ 6,998,889.77 \n \nEXPENDITURES \n \nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enterprise Operations Community Services Operations \nCapital Outlay Debt Service \n \n$ 4,206,749.83 $ 4,255,085.02 \n \n353,880.65 340,831.23 186,654.26 205,435.68 432,087.32 187,063.93 494,443.83 258,630.13 \n5,100.00 2,000.00 \n \n409,255.15 328,187.73 187,225.32 193,669.53 485,513.65 150,509.66 582,758.25 220,901.16 \n5,589.28 1,763.08 \n \n22,722.44 \n \n24,891.94 4,070.13 5,500.00 \n105,311.88 \n \nTotal Expenditures \n \n$ 6,695,599.30 $ 6,960,231.78 \n \nExcess of Revenues over (under) Expenditures \n \n$ \n \n19,546.21 $ \n \n38,657.99 \n \nOTHER FINANCING SOURCES {USES} \n \nOther Sources Other Uses \n \n$ \n \n-13,236.02 $ -100, 140.79 \n \nTotal Other Financing Sources (Uses) \n \n$ \n \n-13,236.02 $ -100,140.79 \n \nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ \n \n6,310.19 $ \n \n-61,482.80 \n \nFUND BALANCE JULY 1, 1998 \n \n180,590.39 \n \n214,133.90 \n \nAdjustments Food Inventory - Net Change in Period \nDonated Commodities Purchased Food \n \nFUND BALANCE JUNE 30, 1999 \n \n$ \n \n186,900.58 $ \n \n152,651.10 \n \nSPECIAL REVENUE FUND \n \nACTUAL \n \n(BUDGET \n \nBUDGET \n \nBASIS) \n \n$ \n \n420,638.22 $ \n \n420,760.07 \n \n959,049.73 \n \n948,678.94 \n \n196,852.03 \n \n200,314.71 \n \n$ 1,576,539.98 $ 1,569,753.72 \n \n$ \n \n672,956.71 $ \n \n657,148.96 \n \n91,239.00 56,319.00 10,924.00 75,185.00 \n \n106,067.06 77,440.78 10,943.05 68,509.12 \n \n11,455.00 8,526.00 \n80,500.00 597,803.75 \n4,000.00 \n \n12,271.08 8,219.67 \n74,774.99 647,643.06 \n \n$ 1,608,908.46 $ 1,663,017.77 \n \n$ \n \n-32,368.48 $ \n \n-93,264.05 \n \n$ \n \n13,346.02 $ \n \n62,203.79 \n \n$ \n \n13,346.02 $ \n \n62,203.79 \n \n$ \n \n-19,022.46 $ \n \n-31,060.26 \n \n229,468.92 \n \n214,249.84 \n \n3,411.61 \n \n-2,755.16 7.74 \n \n$ \n \n213,858.07 $ \n \n180,442.16 \n \nThe notes to the general purpose financial statements are an integral part of this statement. -5- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1999 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nREPORTING ENTITY \nThe Lanier County Board of Education (Board) 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 Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the Board is a primary government and consists of all the organizations that compose its legal entity. \nFUND ACCOUNTING \nThe Board uses funds and an account group to :report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \nGeneral Fixed Assets are recorded as expenditures in the various funds at the time ofpurchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances ofthese accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \nThe general purpose financial statements account for all State, Federal, Taxes and Other funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \nGOVERNMENTAL FUND TYPES - are used to account for all or most ofa Board's educational activities. Governmental Fund Types include: \nGENERAL FUND - the fund used to account for all financial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. \nSPECIAL REVENUE FUND - the fund used to account for the proceeds ofspecific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are received primarily from the Georgia Department ofEducation and from the Federal government to accomplish specific educational objectives. \n-6- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1999 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. \nACCOUNT GROUP \nGENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for material capital lease obligations. \nBASIS OF ACCOUNTING \nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. \nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \nGovernmental funds are accounted for using the modified accrual basis of accounting under which: \nRevenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). \"Measurable\" means the amount ofthe transaction can be determined and \"available\" means collectible within the current period or soon enough thereafter to be used to pay liabilities ofthe current period. Those revenues considered susceptible to accrual are property taxes, local option sales taxes, intergovernmental grants and investment income. \nExpenditures are generally recognized when the related fund liability is incurred. \nA departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share of these contracts. During fiscal year 1999, a substantial number of personnel ofthe Board were employed for a one hundred and ninety day period beginning in late August 1998 and ending in early June 1999. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1998 and ending in August 1999. State grants to fund the State's share ofthese contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As of June 30, 1999, compensation under these employment contracts had been earned, but two ofthe twelve monthly payments, due for July and August 1999, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1999. Also, the State's portion ofthe compensation paid in July and August 1999 was received \n-7- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1999 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nand recorded as revenue in the fiscal year subsequent to June 30, 1999. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1998, were recorded in the year ended June 30, 1999. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \nBUDGET \nThe Lanier County Board of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. .The legal level ofbudget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. \nThe budget process begins when the Board's administration prepares a tentative 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. At the next regular meeting ofthe 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 ofEducation. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. \nCASH AND CASH EQUIVALENTS \nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. \nINVESTMENTS \nCOMPOSIDON OF INVESTMENTS Investments made by the Board in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase of one year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate ofreturn shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following: \n-8- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1999 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \n \n(1) Obligations issued by the State of Georgia or by other states, \n \n(2) Obligations issued by the United States government, \n \n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \n \n(4) Obligations of any corporation ofthe United States government, \n \n(5) Prime banker's acceptances, \n \n(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services, \n \n(7) Repurchase agreements, and \n \n(8) Obligations of other political subdivisions ofthe State of Georgia. \n \nRECEIVABLES \n \nReceivables consist of grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \n \nPROPERTY TAXES \n \nThe Lanier County Board of Commissioners fixed the property tax levy for the 1998 tax year (calendar year) on October 20, 1998 (levy date). Taxes were due on December 20, 1998. The lien date for property taxes was January 1, 1998. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1999. The Lanier County Tax Commissioner bills and collects the property taxes for the Board ofEducation, withholds 2.5% oftaxes collected as a fee for tax collection and renrits the balance oftaxes collected to the Board. \n \nThe tax millage rate levied for the 1998 tax year (calendar year) for the Lanier County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): \n \nSchool Operations \n \n18.47 mills \n \n-9- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1999 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nSALES TAXES \nSpecial Purpose Local Option Sales Tax is to be used for capital outlay for educational purposes. Special Purpose Local Option Sales Tax revenue during the fiscal year amounted to $67,142.62 and was recorded in the Capital Projects Fund. The State will terminate collection of this tax once an additional $1,744,702.38 has been collected or on March 31, 2004, whichever occurs first. \nINVENTORIES \nFOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which indicates that these amounts do not constitute \"available spendable resources\" even though they are a component of net current assets. \nPREPAID ITEMS \nPayments made to vendors for services that will benefit periods subsequent to June 30, 1999, are recorded as prepaid items. \nINTERFUND TRANSACTIONS \nThe Board has the following types ofinterfund transactions: \nReimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. \nOperating transfers are recorded for all interfund transactions other than reimbursements. \nMEMORANDUM ONLY -TOTAL COLUMNS \nTotal columns on the general purpose financial statements are captioned \"Memorandum Only\" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30. 1999 \n \nNote 2: DEPOSITS \nCOLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value ofsecurities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \nAcceptable security for deposits consists of any one of or any combination of the following: \n(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \n(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, \n(4) Bonds, bills, notes, certificates of indebtedness or other obligations ofthe counties or municipalities ofthe State of Georgia, \n(5) Bonds of any public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use ofthe bonds for this purpose, \n(6) Industrial revenue bonds and bonds of development authorities created by the laws ofthe State of Georgia, and \n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \nCATEGORIZATION OF DEPOSITS At June 30, 1999, the bank balances were $1,343,935.32. The amounts of the total bank balances are classified into three categories of credit risk: \nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \n- 11 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1999 \n \nNote 2: DEPOSITS \n \nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \n \nThe Board's deposits are classified by risk categ\u003c;\u003ery at June 30, 1999, as follows: \n \nRisk Category \n \nBank Balance \n \n1 \n \n$ 200,000.00 \n \n2 \n \n970,394.00 \n \n3 \n \n173,541.32 \n \nTotal \nNote 3: NON-MONETARY TRANSACTIONS \n \n$ 1.343.935.32 \n \nThe Board receives food commodities from the United States Department ofAgriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \n \nNote 4: RISK MANAGEMENT \n \nThe Board is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster and unemployment compensation. \n \nThe Board has obtained commercial insurance for risk ofloss associated with torts, assets, andjob related illness or injuries to employees. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any ofthe past three years. \n \nThe Board has elected to self-insure for all losses related to natural disaster except for flooding for which the Board has purchased commercial insurance. The Board has not experienced any losses related to this risk in the past three years. \n \nThe Board has elected to self-insure for errors or omissions, which includes, among other risks, risks for sexual harassment and discrimination. The Board has not experienced any losses related to these risks in the past three years. \n \n- 12- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30. 1999 \n \nNote 4: RISK MANAGEMENT \nThe Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the same fund that the employee's salary and benefits were paid. Claims are accounted for with expenditure and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. \n \nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \n \n1998 1999 \n \nBeginning ofYear Liability \n \nClaims and Changes in \nEstimates \n \n$ \n \n0.00 $ \n \n64~ 1Q0 $ \n \n$ \n \nQ,Q0 $ \n \nQ,QQ $ \n \nClaims Paid \n \nEndofYear Liability \n \n64~.oo $ \n \n0.00 \n \nQ.QQ $ \n \nQ.Q0 \n \nThe Board has purchased surety bonds to provide additional insurance coverage as follows: \n \nPosition Covered \n \nAmount \n \nSuperintendent Each Principal Each Bookkeeper Each Nutrition Manager Each Nutrition Cashier \n \n$ 25,000.00 $ 5,000.00 $ 4,000.00 $ 3,000.00 $ 2,000.00 \n \nNote 5: GENERAL LONG-TERM DEBT \n \nCAPITAL LEASES The Lanier County Board ofEducation has entered into various lease agreements as lessee for digital phone systems, copy machines and an energy management system. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value ofthe future minimum lease payments as ofthe date oftheir inception. \n \nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1999, were as follows: \n \nBalance July 1, 1998 \nDeductions Payments \nBalance June 30, 1999 \n \nCapital Leases \n$ 366,882.66 \n81,594.89 $ 2851287.ZZ \n \n- 13 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1999 \n \nNote 5: GENERAL LONG-TERM DEBT \n \nAt June 30, 1999, payments due by fiscal year which includes principal and interest for these items are as follows: \n \nFiscal Year Ended June 30 \n \nCapital Leases \n \n2000 2001 2002 2003 2004 \n \n$ 102,533.27 82,407.10 57,008.88 57,008.88 23,753.70 \n \nTotal Principal and Interest \n \n$ 322,711.83 \n \nDeduct: Imputed Interest \n \n37,424.06 \n \nNet Present Value ofFuture Minimum Lease Payments \n \n$ 285.287.77 \n \nNote 6: LOANS PAYABLE \n \nAt June 30, 1999, short-term debt (temporary loans) amounted to $520,150.00 with interest accruing at 4.25 percent. The aggregate amount of temporary loans is limited to 75 percent of the total gross income from taxes collected in the preceding year and all temporary loans must be repaid no later than December 31 ofthe calender year in which the loan was made. \n \nNote 7: ON-BEHALF PAYMENTS \n \nThe Board has recognized revenues and expenditures in the amount of$117,944.52 for health insurance and retirement contributions paid on the Board's behalfby the following State Agencies. \n \nGeorgia Department ofEducation Paid to the State Merit System of Personnel Administration For Health Insurance ofNon-Certified Personnel In the amount of$91,371.98 \n \nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of$9,022.54 \n \n- 14- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30. 1999 \n \nNote 7: ON-BEHALF PAYMENTS \n \nOffice of Treasury and Fiscal Services Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost In the amount of $17,550.00 \n \nNote 8: CONTINGENT LIABILITIES \n \nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \n \nNote 9: RETIREMENT PLANS \n \nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \n \nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. \n \nTRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by TRS are required by State statute to contribute 5% oftheir gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 11.95% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: \n \nFiscal Year \n \nPercentage Contributed \n \nRequired Contribution \n \n1999 1998 1997 \n \n100% 100% 100% \n \n$ 580,836.06 $ 538,794.78 $ 487,931.47 \n \n- 15 - \n \n LANIER COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1999 \n \nASSETS \nCash and Cash Equivalents \nAccounts Receivable \nInventories Food Donated Commodities Purchased Food \n \nSCHOOL FOOD \nSERVICES FUND \n \nLOTTERY PROGRAMS \n \n$ 141,444.21 $ \n \n61,485.85 \n \n39,124.46 \n \n4,282.43 1,065.86 \n \nTotal Assets \nLIABILITIES AND FUND EQUITY \nLIABILITIES \nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable \nTotal Liabilities \nFUND EQUITY \nFund Balances Reserved For Continuation of Federal Programs For Continuation of State Programs For Inventories Food Donated Commodities Purchased Food Unreserved Deficit Undesignated \nTotal Fund Equity \nTotal Liabilities and Fund Equity \nSee notes to the general purpose financial statements. \n-16- \n \n$ 185,916.96 $ ====6=1=,4=8=5=.8=5= \n \n$ \n \n2,483.09 $ \n \n17,178.39 \n \n34,048.84 \n \n44,307.46 \n \n$ \n \n36,531.93 $ \n \n61,485.85 \n \n$ \n \n4,282.43 \n \n1,065.86 \n \n144,036.74 $ \n \n0.00 \n \n$ 149,385.03 $ \n \n0.00 \n \n__ _____....,. \n \n$ 185,916.96 $ \n \n61,485.85 . \n \n EXHIBIT\"E\" \n \nFEDERAL PROGRAMS \n \nOTHER PROGRAMS \n \nTOTALS \nJUNE 30, 1999 JUNE 30, 1998 \n \n$ \n \n20,508.93 $ 223,438.99 $ 323,179.55 \n \n$ 138,497.77 \n \n177,622.23 \n \n132,974.47 \n \n4,282.43 1,065.86 \n \n7,037.59 1,058.12 \n \n$ 138,497.77 $ \n \n20,508.93 $ 406,409.51 $ 464,249.73 \n \n$ \n \n60,501.88 \n \n19,885.65 $ \n \n44,794.11 \n \n1,637.83 \n \n$ 126,819.47 $ \n \n$ 270.86 468.75 390.49 \n1,130.10 $ \n \n60,501.88 $ 39,817.99 123,619.16 \n2,028.32 \n225,967.35 $ \n \n47,903.50 77,851.69 117,807.56 6,437.14 \n249,999.89 \n \n$ \n \n11,678.30 \n \n$ \n \n11,678.30 $ \n \n4,946.72 \n \n25,000.00 \n \n4,282.43 1,065.86 \n \n1,058.12 7,037.59 \n \n0.00 $ \n \n19,378.83 \n \n163,415.57 \n \n-10,621.17 186,828.58 \n \n$ \n \n11,678.30 $ \n \n19,378.83 $ 180,442.16 $ 214,249.84 \n \n$ 138,497.77 $ \n \n20,508.93 $ 406,409.51 $ 464,249.73 \n \n-17 - \n \n LANIER COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES \nSPECIAL REVENUE FUND YEAR ENDED JUNE 30, 1999 \n \nREVENUES \nState Funds Federal Funds Other Funds \nTotal Revenues \nEXPENDITURES \nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services Food Services Operation \nCapital Outlay \nTotal Expenditures \nExcess of Revenues over (under) Expenditures \nOTHER FINANCING SOURCES \nOperating Transfers In \nExcess of Revenues and Other Financing Sources over (under) Expenditures \nFUND BALANCE JULY 1 \nFood Inventory - Net Change in Period Donated Commodities Purchased Food \nFUND BALANCE JUNE 30 \nSee notes to the general purpose financial statements. -18 - \n \nSCHOOL FOOD \nSERVICES FUND \n \nLOTTERY PROGRAMS \n \n$ \n \n42,178.00 $ 378,582.07 \n \n388,677.64 \n \n170,314.71 \n \n$ 601,170.35 $ 378,582.07 \n \n$ 340,478.73 \n49,773.61 3,187.84 \n \n$ 643,962.19 \n \n12,271.08 1,906.58 \n3,680.87 \n \n$ 643,962.19 $ 411,298.71 \n \n$ \n \n-42,791.84 $ \n \n-32,716.64 \n \n32,716.64 \n \n$ \n \n-42,791.84 $ \n \n194,924.29 \n \n0.00 0.00 \n \n-2,755.16 7.74 \n \n$ 149,385.03 $ ============0=.=0=0== \n \n EXHIBIT\"F\" \n \nFEDERAL PROGRAMS \n \nOTHER PROGRAMS \n \nTOTALS YEAR ENDED JUNE 30, 1999 JUNE 30, 1998 \n \n$ $ 560,001.30 \n_ _ _ _ _ $ _ _3_o_,o__oo_.o_o_ \n \n420,760.07 $ 948,678.94 200,314.71 \n \n531,981.83 899,807.26 222,305.18 \n \n$ 560,001.30 $ \n \n30,000.00 $ 1,569,753.72 $ 1,654,094.27 \n \n$ 316,670.23 \n31,293.45 $ 74,252.94 10,943.05 68,509.12 \n6,313.09 74,774.99 \n$ 582,756.87 $ \n$ -22,755.57 $ \n \n$ 657,148.96 $ 695,788.43 \n \n25,000.00 \n \n106,067.06 77,440.78 10,943.05 68,509.12 12,271.08 \n8,219.67 74,774.99 647,643.06 \n \n173,424.00 33,100.13 \n5,233.90 67,106.25 15,240.57 4,227.30 70,253.53 612,412.62 \n3,379.10 \n \n25,000.00 $ 1,663,017.77 $ 1,680,165.83 \n \n5,000.00 $ -93,264.05 $ -26,071.56 \n \n29,487.15 \n \n62,203.79 \n \n28,041.78 \n \n$ \n \n6,731.58 $ \n \n5,000.00 $ -31,060.26 $ \n \n1,970.22 \n \n4,946.72 \n \n14,378.83 \n \n214,249.84 \n \n219,465.97 \n \n-2,755.16 7.74 \n \n-6,476.89 -709.46 \n \n$ \n \n11,678.30 $ \n \n19,378.83 $ 180,442.16 $ 214,249.84 \n \n-19- \n \n LANIER COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30, 1999 \n \nASSETS Cash and Cash Equivalents Accounts Receivable \n \nREGULAR \n \nGEORGIA STATE FINANCING AND \nINVESTMENT COMMISSION \n \n$ \n \n25,582.85 $ \n \n19,973.00 \n \nTotal Assets \nFUND EQUITY \nFund Balances Reserved For State Capital Outlay Projects For SPLOST Projects Unreserved Undesignated \n \n$ \n \n25,582.85 $ ====1=9=,97=3.=00= \n \n$ $ _ _...:2:.=5.z.::,5;.::;82==.;:,;85:::.... \n \n19,973.00 \n \nTotal Fund Equity \n \n$ \n \n25,582.85 $ ===1=9=,9=7=3=00= \n \nSee notes to the general purpose financial statements. -20- \n \n EXHIBIT \"G\" \n \nSPECIAL PURPOSE LOCAL OPTION SALES TAX \n \n$ \n \n21,095.60 $ \n \n46,047.02 \n \nLOTTERY PROJECT \n \nTOTALS \n \nJUNE 30, 1999 \n \nJUNE 30, 1998 \n \n17,964.00 $ \n \n84,615.45 $ \n \n582.85 \n \n46,047.02 \n \n25,000.00 \n \n$ \n \n67,142.62 $ \n \n17,964.00 $ \n \n130,662.47 $ ===2=5=,5=82==85= \n \n$ \n \n17,964.00 $ \n \n37,937.00 \n \n$ \n \n67,142.62 \n \n67,142.62 \n \n25,582.85 $ _ _ _2_5_,5__82_._85_ \n \n$ \n \n67,142.62 $ \n \n17,964.00 $ \n \n130,662.47 $ ===2=5=,5=82==85= \n \n- 21 - \n \n LANIER COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \nCAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 1999 \n \nREVENUES \nState Funds Taxes Other Funds \nTotal Revenues \nEXPENDITURES \nCapital Outlay Building and Building Improvements \nExcess of Revenues over (under) Expenditures \nOTHER FINANCING SOURCES \nOperating Transfers In \nExcess of Revenues and Other Financing Sources over (under) Expenditures \nFUND BALANCE JULY 1 \n \nREGULAR \n \nGEORGIA STATE FINANCING AND \nINVESTMENT COMMISSION \n \n$ \n \n0.00 $ \n \n0.00 \n \n$ \n \n0.00 $ \n \n0.00 \n \n0.00 \n \n0.00 \n \n$ \n \n0.00 $ \n \n0.00 \n \n$ \n \n0.00 $ \n \n25,582.85 \n \n19,973.00 \n19,973.00 0.00 \n \nFUND BALANCE JUNE 30 \n \n$ \n \n25,582.85 $ =====19=,9=7=3.=00= \n \nSee notes to the general purpose financial statements. -22- \n \n EXHIBIT \"H\" \n \nSPECIAL PURPOSE LOCAL OPTION SALES TAX \n \nLOTTERY PROJECT \n \nTOTALS \n \nYEAR ENDED \n \nJUNE 30, 1999 \n \nJUNE 30, 1998 \n \n$ \n \n67,142.62 \n \n$ \n \n_ _ _ _ _ _ $ _ _ _ _.;..o._oo_ \n \n$ \n \n67,142.62 $ \n \n0.00 $ \n \n$ 67,142.62 \n67,142.62 $ \n \n25,000.00 10,000.00 35,000.00 \n \n0.00 \n \n$ \n \n67,142.62 $ \n \n0.00 0.00 $ \n \n0.00 67,142.62 $ \n \n18,500.00 16,500.00 \n \n17,964.00 \n \n37,937.00 \n \n$ \n \n67,142.62 $ \n \n17,964.00 $ \n \n105,079.62 $ \n \n16,500.00 \n \n0.00 \n \n0.00 \n \n25,582.85 \n \n9,082.85 \n \n$ \n \n67,142.62 $ \n \n17,964.00 $ \n \n130,662.47 $ ======2=5=,5=82==85= \n \n-23- \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \nYEAR ENDED JUNE 30. 1999 \n \nSCHEDULE \"1\" \n \nFUNDING AGENCY PROGRAM/GRANT \nAgriculture, U. S. Department of Child Nutrition Cluster Pass-Through From Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1999 Grant National School Lunch Program 1999 Grant \nTotal Child Nutrition Cluster \nOther Programs Pass-Through From Georgia Department of Education Food and Nutrition Program Food Distribution Program (1) \nTotal U.S. Department of Agriculture \nEducation,U.S.Departmentof Special Education Cluster Pass-Through From Georgia Department of Education Individuals with Disabilities Education Act Part B - Special Education Flow Through 1999 Grant Preschool 1999 Grant \nTotal Special Education Cluster \nOther Programs Direct Impact Aid 1999 Grant Pass-Through From Berrien County Board of Education d/bla Southern Pine Migrant Education Agency Elementary and Secondary Education Act Title I Migrant Education 1998 Regular 1999 Regular Pass-Through From Georgia Department of Education Safe and Drug-Free Schools 1999 Grant Elementary and Secondary Education Act Title I Grants to Local Educational Agencies 1999 Grant Title II Eisenhower Professional Development 1998 Grant 1999 Grant Title VI Innovative Education Program Strategies 1999 Grant \n \nCFDA NUMBER \n. 10.553 . 10.555 \n10.550 \n84.027 84.173 \n84.041 \n84.011 84.011 84.186 \n 84.010 \n84.281 84.281 84.298 \n \nPASS- \nTHROUGH ENTITY ID NUMBER \nNIA $ NIA \n$ \nNIA \n$ \nN/A $ N/A \n$ \nNIA NIA NIA \nNIA NIA \nNIA \nNIA \n \nFEDERAL REVENUE IN PERIOD \n \nEXPENDITURES IN PERIOD \n \n97,654.81 \n257,270.23 $ 354,925.04 $ \n \n(2) 610,209.59 (3) 610,209.59 \n \n33,752.60 388,677.64 $ \n \n33,752.60 643,962.19 \n \n53,288.14 $ 35,469.49 88,757.63 $ \n \n53,288.14 35,469.49 88,757.63 \n \n2,287.27 \n \n(4) \n \n12,010.41 8,102.17 339,636.73 18,500.00 11,009.00 \n \n1,092.52 10,858.73 \n8,102.17 \n339,636.73 \n3,854.20 7,973.38 \n11,009.00 \n \n-24- \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \nYEAR ENDED JUNE 30, 1999 \n \nSCHEDULE \"1\" \n \nFUNDING AGENCY PROGRAM/GRANT \nEducation, U. S. Department of Other Programs Pass-Through From Georgia Department of Education Vocational Education - Basic Grants to States High School Program Basic Grant 1999 Grant Tech-Prep Education 1999 Grant \nTotal U. S. Department of Education \nLabor, U. S. Department of Pass-Through From South Georgia Regional Development Center Job Training Partnership Act PY97-II-B-2 \nHealth and Human Services, U. S. Department of Pass-Through from Georgia Department of Human Resources Substance Abuse Program 1999 Grant \nOTHER FEDERAL ASSISTANCE \nDefense, U. S. Department of Pass-Through From Defense Activity for Non-Traditional Education Support (DANTES) Troops To Teachers Grant 1999 Grant \n \nCFDA NUMBER \n \nPASSTHROUGH \nENTITY ID \nNUMBER \n \nFEDERAL REVENUE IN PERIOD \n \nEXPENDITURES IN PERIOD \n \n84.048 84243 \n \nNIA $ NIA \n$ \n \n21,285.00 $ \n40,000.00 \n541,588.21 $ \n \n21,285.00 40,000.00 532,569.36 \n \n17.250 \n \nNIA $ \n \n6,574.32 $ \n \n6,574.32 \n \n93.959 \n \nNIA $ \n \n51205.00 $ \n \n5,205.00 \n \nN/A $ \n \n8,921.04 $ \n \n38 408.19 (3) \n \nTotal Federal Financial Assistance \nNIA = Not Available \n \n$ \n \n950,966.21 $ ====1=,2=2=6,=7=19=.=06= \n \nNotes to the Schedule of Expendib.Jres of Federal Awards \n \n(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonrnonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. \n(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1999 National School Lunch Program. \n(3) Expenditures for this program include State, and/or Other Funds. Expenditures are not maintained by fund source. \n(4) Expenditures on this program were not maintained by fund source. \n \nMajor Programs are identified by an asterisk (*) in front of the CFDA number. \n \nThe Board did not provide Federal Assistance to any Subrecipienl \n \nThe accompanying schedule of expendib.Jres of Federal awards includes the Federal grant activity of the Lanier County Board of Education and is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the general purpose financial statements. \n \nSee notes to the general purpose financial statements. \n \n-25- \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 1999 \n \nSCHEDULE \"2\" \n \nAGENCY/FUNDING \nGRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Sparsity Grant Middle School Incentive Program Special Instructional Assistance In-School Suspension Migrant Education Counselors Grades 4 and 5 Technology Specialist Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Alternative Program At-Risk Summer School Program Environmental Science Program Health Insurance Student Records Preschool Handicapped Program Remedial Summer School Program Year 2000 Project Teachers' Retirement Tuition for the Multi-Handicapped Lottery Programs Assistive Technology Computers in the Classroom \nGeorgia Department of Community Affairs Governor's Emergency Funds (1) \nOffice of School Readiness Pre-Kindergarten Program \nOffice of Treasury and Fiscal Services Public School Employees Retirement \nOTHER Education, Georgia Department of Reimbursement for Registration \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nGENERAL \n \nREVENUE \n \nFUND \n \nFUND \n \nTOTAL \n \n$ 2,912,869.00 \n307,887.00 98,822.00 121,793.00 33,927.00 \n813,013.00 \n146,276.00 32,474.00 102,496.00 112,187.00 180,914.00 83,552.00 \n1,023.00 12,725.00 28,842.00 -290,524.00 510,509.00 \n$ \n27,723.00 \n31,000.00 7,634.59 500.00 \n91,371.98 1,017.75 \n16,825.00 3,418.39 4,476.50 9,022.54 \n94,876.92 \n10,000.00 \n17,550.00 \n \n$ \n42,178.00 \n4,591.85 26,813.00 \n \n2,912,869.00 307,887.00 98,822.00 121,793.00 33,927.00 813,013.00 \n146,276.00 32,474.00 \n102,496.00 112,187.00 180,914.00 \n83,552.00 1,023.00 \n12,725.00 28,842.00 -290,524.00 510,509.00 42,178.00 27,723.00 \n31,000.00 7,634.59 500.00 \n91,371.98 1,017.75 \n16,825.00 3,418.39 4,476.50 9,022.54 \n94,876.92 \n4,591.85 26,813.00 \n \n10,000.00 \n \n347,1TT.22 \n \n347,1TT.22 \n \n17,550.00 \n \n399.00 \n \n399.00 \n \n$ 5,524,600.67 $ (1) To assist the high school with expenses in connection with their band program. \nSee notes to the general purpose financial statements. \n-26- \n \n420,760.07 $ 5,945,360.74 \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES LOTTERY PROGRAMS YEAR ENDED JUNE 30, 1999 \n \nSCHEDULE 3 \n \nEXPENDITURES \n \nASSISTIVE TECHNOLOGY \n \nCOMPUTERS INTHE \nCLASSROOMS \n \nPRE-KINDERGARTEN PROGRAM \n \nCurrent \n \nInstruction \n \n$ \n \nSupport Services \n \nPupil Services \n \nImprovement of Instructional Services \n \nMaintenance and Operation of Plant \n \nStudent Transportation Services \n \nFood Services Operation \n \n4,591.85 $ \n \n26,813.00 $ \n \n309,073.88 $ \n49,773.61 3,187.84 12,271.08 1,906.58 3,680.87 \n \nTOTAL \n340,478.73 \n49,773.61 3,187.84 12,271.08 1,906.58 3,680.87 \n \nTotal Expenditures \n \n$ \n \n4,591.85 $ \n \n26,813.00 $ \n \n379,893.86 $ 411,298.71 \n \nRECAP: Salaries and Benefits Pre-Kindergarten Program Other Expenditures Assistive Technology Computers in the Classrooms Pre-Kindergarten Program \n \n$ 351,311.31 \n4,591.85 26,813.00 28,582.55 \n \n$ 411,298.71 \n \nSee notes to the general purpose financial statements. \n \n-27- \n \n LANIER COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1999 \n \nSCHEDULE \"4\" \n \nMinimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis \nSalaries Operations \nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \nExpenditures per Audit \nAmount of Underexpenditure for Total Allotment \n \nFOURTEEN WEIGHTED AND MEDIA CENTER \nPROGRAMS \n \n100% TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS \n \n$ \n \n3,441,371.00 $ \n \n124,573.00 \n \n$ \n \n3,544,230.49 \n \n161,886.33 $ _ _.......:,.13~4;;,.:.;,6;;.;:8:..:,1.:.::.8~1 \n \n$ \n \n3,706,116.82 \n \n-34,392.20 $ _ _.=,3i.:,6.:..71:.z.;7,;..=2~4:..;;:62=- \n \n$ \n \n0.00 $=======0=00= \n \nSee notes to the general purpose financial statements. - 29 - \n \n LANIER COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1999 \n \nGENERAL AND CAREER EDUCATION PROGRAMS Kindergarten (*) Grades 1 - 3 (*) Sub-Total - K-3 Grades 4 - 5 (*) Grades 6 - 8 (*) Grades 9-12 (*) High School Laboratories (*) Vocational Education Laboratories (*) Total General and Career Education Programs \nSPECIAL EDUCATION PROGRAMS Regular Programs Category II (*) \nCategory Ill (*) Category IV (*) \nSub-Total - Regular Category VI (Gifted) (*) \nTotal Special Education Programs .REMEDIAL EDUCATION PROGRAM (*} \nTotal Fourteen Weighted Programs MEDIA CENTER PROGRAMS \nSalaries Operations \nTotal Media Center Programs \n \nORIGINAL \n \nALLOTMENTS FROM GEORGIA DEPARTMENT OF \n \nREQUIRED \n \n% \n \nORIGINAL \n \nMIO-TERM \n \n$ \n \n315,738.00 \n \n$ \n \n284,164.20 $ \n \n0.00 \n \n756,779.00 \n \n681,101.10 \n \n$ 1,072,517.00 \n \n90 \n \n$ \n \n965,265.30 $ \n \n0.00 \n \n380,092.00 \n \n90 \n \n342,082.80 \n \n664,257.00 \n \n90 \n \n597,831.30 \n \n240,818.00 \n \n90 \n \n216,736.20 \n \n240,312.00 \n \n90 \n \n216,280.80 \n \n314,873.00 \n \n90 \n \n283,385.70 \n \n$ 2,912,869.00 \n \n$ 2,621,582.10 $ \n \n0.00 \n \n$ \n \n286,500.00 \n \n$ \n \n257,850.00 $ \n \n0.00 \n \n$ \n \n286,500.00 \n \n21,387.00 \n \n$ \n \n307,887.00 \n \n$ \n \n98,822.00 \n \n$ 3,319,578.00 \n \n90 \n \n$ \n \n257,850.00 $ \n \n90 \n \n19,248.30 \n \n$ \n \n277,098.30 $ \n \n90 $ \n \n88,939.80 $ \n \n$ 2,987,620.20 $ \n \n$ \n \n95,763.00 \n \n90 \n \n$ \n \n86,186.70 $ \n \n26,030.00 \n \n100 \n \n26,030.00 \n \n$ \n \n121,793.00 \n \n$ \n \n112,216.70 $ \n \n0.00 \n0.00 0.00 0.00 \n0.00 0.00 \n \nTotal Fourteen Weighted and Media Center Programs \n \n$ 3,441,371.00 \n \n$ 3,099,836.90 $ \n \n0.00 \n \nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \nTotal Staff Development Programs r) Identifies Fourteen Weighted Programs. See notes to the general purpose financial statements. \n \n$ \n \n10,712.00 \n \n23,215.00 \n \n$ \n \n10,712.00 $ \n \n23,215.00 \n \n0.00 0.00 \n \ns_ _ 33.,,9_2_,1o..o.. 11111 \n \n100 $ \n \n33,927.00 $ -==-......0.-.-0=0 \n \n- 30 - \n \n SCHEDULE 5 \n \nEDUCATION TOTAL \nREQUIRED \n \nACTUAL EXPENDITURES \n \nSALARIES \n \nOPERATIONS \n \nTOTAL \n \nAMOUNT OF UNDEREXPENDITURE \nFOR REQUIRED ALLOTMENT \n \n$ \n \n284,164.20 $ \n \n289,370.35 $ \n \n3,443.45 $ \n \n292,813.80 \n \n681,101.10 \n \n707,373.20 \n \n17,933.34 \n \n725,306.54 \n \n$ \n \n965,265.30 $ \n \n996,743.55 $ \n \n21,376.79 $ 1,018,120.34 $ \n \n0.00 \n \n342,082.80 \n \n388,371.73 \n \n10,956.30 \n \n399,328.03 \n \n0.00 \n \n597,831.30 \n \n615,561.56 \n \n20,798.99 \n \n636,360.55 \n \n0.00 \n \n216,736.20 \n \n248,178.14 \n \n29,304.02 \n \n277,482.16 \n \n0.00 \n \n216,280.80 \n \n332,404.05 \n \n9,884.35 \n \n342,288.40 \n \n0.00 \n \n283,385.70 \n \n274,507.93 \n \n34,167.80 \n \n308,675.73 \n \n0.00 \n \n$ 2,621,582.10 $ 2,855,766.96 $ \n \n126,488.25 $ 2,982,255.21 \n \n$ \n \n257,850.00 \n \n$ \n \n140,221.87 $ 261,755.99 \n347.06 \n \n1,218.00 $ 4,800.00 \n \n141,439.87 266,555.99 \n347.06 \n \n$ \n \n257,850.00 $ \n \n402,324.92 $ \n \n6,018.00 $ \n \n408,342.92 \n \n0.00 \n \n19,248.30 \n \n50,591.81 \n \n305.24 \n \n50,897.05 \n \n0.00 \n \n$ \n \n277,098.30 $ \n \n452,916.73 $ \n \n6,323.24 $ \n \n459,239.97 \n \n$ \n \n88,939.80 $ \n \n106,566.12 $ \n \n1,870.32 $ \n \n108,436.44 \n \n0.00 \n \n$ 2,987,620.20 $ 3,415,249.81 $ \n \n134,681.81 $ 3,549,931.62 \n \n$ \n \n86,186.70 $ \n \n128,980.68 \n \n$ \n \n128,980.68 \n \n0.00 \n \n26,030.00 - - - - - - $ _ _ _27__,2_04_._52_ \n \n27,204.52 \n \n0.00 \n \n$ \n \n112,216.70 $ \n \n128,980.68 $ \n \n27,204.52 $ _ _1_56__,1_8_5._20_ \n \n$ 3,099,836.90 $ 3,544,230.49 $ \n \n161,886.33 $ 3,706,116.82 $ _ _ _ _ _ _ _0..,.0_0 \n \n$ \n \n10,712.00 \n \n23,215.00 \n \n$-=-==.3..3..,.9==2=7=.o=o \n \n$ \n \n17,529.45 $ \n \n17,529.45 \n \n16,497.86 \n \n16,497.86 \n \n$ \n \n34,027.31 $ \n \n34,027.31 $ _ _ _ _ _ _ _o_.o_o \n \n- 31 - \n \n SECTION IT COMPLIANCE AND INTERNAL CONTROL REPORTS \n \n RussELL W. HINTON \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMarch 1, 2000 \n \nHonorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education \nand Superintendent and Members of the Lanier County Board of Education \nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING \nBASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH \nGOVERNMENT AUDITING STANDARDS \nLadies and Gentlemen: \nWe have audited the :financial statements of Lanier County Board of Education as of and for the year ended June 30, 1999, and have issued our report thereon dated March 1, 2000. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to :financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. \nCompliance \nAs part of obtaining reasonable assurance about whether Lanier County Board of Education's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants, 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 that are required to be reported under Government Auditing Standards. \nInternal Control Over Financial Reporting \nIn planning and performing our audit, we considered Lanier County Board ofEducation's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. \n99YB-40 \n \n However, we noted a certain matter involving the internal control over financial reporting and its operation that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control over financial reporting that, in our judgement, could adversely affect Lanier County Board of Education's ability to record, process, summarize and report financial data consistent with assertions of management in the financial statements. The reportable condition is described in the accompanying Schedule of Findings and Questioned Costs as item FS-6861-99-02. \nA material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control that might be reportable conditions and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, the reportable condition described above is also considered to be a material weakness. \nThis report is intended solely for the information and use of management, members of the Lanier County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties. \nRespectfully submitted, \n~ UJ.~.:::L: \nRussell W. Hinton State Auditor \nRWH:jb 99YB-40 \n \n RussELL W. HINTON \nSTATE AUDITOR (404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMarch 1, 2000 \n \nHonorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board ofEducation \nand Superintendent and Members of the Lanier County Board of Education \nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULARA-133 \nLadies and Gentlemen: \nCompliance \nWe have audited the compliance of Lanier County Board of Education with the types of compliance requirements described in the U.S. Office ofManagement and Budget (0MB) Circular A-133 Compliance Supplement that are applicable to each ofits major Federal programs for the year ended June 30, 1999. Lanier County Board ofEducation's major Federal programs are identified in the accompanying Schedule ofFindings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each ofits major Federal programs is the responsibility of Lanier County Board of Education's management. Our responsibility is to express an opinion on Lanier County Board ofEducation's compliance based on our audit. \nWe conducted our audit of compliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States; and 0MB Circular A-133,Audits ofStates, Local Governments, and Non-Profit Organizations. Those standards and 0MB Circular A-133 require that we plan and perform the 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 the Lanier County Board of Education's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on Lanier County Board of Education's compliance with those requirements. \n \n99SA-10 \n \n In our opinion, the Lanier County Board of Education complied, in all material respects, with the requirements referred to above that are applicable to each of its major Federal programs for the year ended June 30, 1999. \nInternal Control Over Compliance \nThe management of Lanier County Board of Education is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts and grants applicable to Federal programs. In planning and performing our audit, we considered Lanier County Board ofEducation's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with 0MB Circular A-133. \nOur consideration of the internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a condition in which the design or operation of one or more ofthe internal control components does not reduce to a relatively low level ofrisk that noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in relation to a major Federal program being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses. \nThis report is intended solely for the information and use of management, members of the Lanier County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties. \nRespectfully submitted, \n~tn.J Russell W. Hinton State Auditor \nRWH:jb 99SA-10 \n \n SECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \n \n LANIER COUNTY BOARD OF EDUCATION \nAUDITEE'S RESPONSE \nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 1999 \n \nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \n \nFINDING CONTROL NUMBER AND STATUS \n \nFS-6861-97-01 FS-6861-97-02 FS-6861-98-01 FS-6861-98-02 \n \nFurther Action Not Warranted Further Action Not Warranted Previously Reported Corrective Action Implemented Unresolved - See Corrective Action/Responses \n \nCORRECTIVE ACTION/RESPONSES \n \nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition - Material Weakness Finding Control Number: FS-6861-98-02 \n \nA General Fixed Assets Account Group is not possible at this time due to the expense of establishing a cost for the existing assets of the system. \n \n SECTION IV FINDINGS AND QUESTIONED COSTS \n \n LANIER COUNTY BOARD OF EDUCATION \nSCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 1999 \nI SUMMARY OF AUDITOR'S RESULTS \n1. Type of Report Issued on the Financial Statements The auditor's opinion on the Lanier County Board of Education's financial statements was qualified for various departures from generally accepted accounting principles. \n2. Reportable Conditions in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the Lanier County Board of Education disclosed a financial statement reportable condition related to the following control category. \nGeneral Fixed Assets \nThe reportable condition described above is considered to be a material weakness. \n3. Noncompliance Material to the Financial Statements The audit ofthe Lanier County Board ofEducation disclosed no instances ofnoncompliance that were deemed material to the financial statements. \n4. Reportable Conditions in Internal Control Over Major Programs The audit report for the Lanier County Board of Education did not disclose any reportable conditions in internal control over major programs. \n5. Type of Report Issued on Compliance for Major Programs The auditor's opinion on the Lanier County Board of Education's report on compliance with requirements applicable to major programs was unqualified. \n6. Audit Findings Required to be Re.ported by Section .SlO(a) ofOMB Circular A-133 \nThe Lanier County Board ofEducation's audit did not disclose audit findings required to be reported by section .510(a) ofOMB Circular A-133. \n7. Major Programs Federal awards audited as major programs are as follows: 10.553 Food and Nutrition Program - Food Services - School Breakfast Program 10.555 Food and Nutrition Program - Food Services - National School Lunch Program 84.O1O Elementary and Secondary Education Act - Title I - Grants to Local Educational Agencies \n8. Type \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000.00. \n9. Low Risk Auditee The Lanier County Board ofEducation did not qualify as a low risk auditee as defined by Section .530 of 0MB Circular A-133. \n- 1- \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS \nYEAR ENDED JUNE 30, 1999 \nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \nGENERAL LEDGER Failure to Transfer Required Local Matching Funds Nonmaterial Noncompliance Finding Control Number: FS-6861-99-01 \nThe Lanier County Board of Education failed to transfer required local matching funds for the Low-Wealth and Exceptional Growth (Lottery) Capital Outlay Projects from local funds to the GSFIC and Lottery Capital Projects Funds as required for the approved State Capital Outlay Projects for the 1999 fiscal year. Both the instructions in Chapter 41 of the Financial Management for Georgia Local Units of Administration and the agreements signed by the Board to receive funding through Georgia Department ofEducation require that the Board transfer local matching funds by year end and designate those funds by project name and number. Correcting audit adjustments were necessary to transfer local matching funds in the amounts of $19,973.00 to GSFIC Project Number LW00/99S-686-006 and $17,964.00 to Lottery Project Number 00G/99S-686-048. The Board should implement procedures to ensure that all required local transfers are made by the time required. \nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition - Material Weakness Repeated from Prior Year Finding Control Number: FS-6861-99-02 \nThe Lanier County Board ofEducation did not maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. This condition results in the general purpose financial statements ofthe Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory of land, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained ofall additions and deletions to the General Fixed Assets Account Group. \nill FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \nNo matters were reported. \n-2- \n \n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1997-h98","title":"Audit report, Lanier County Board of Education, Lakeland, Georgia, year ended June 30, 1998","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Lanier County, 31.03789, -83.06265"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1998-06-30"],"dcterms_description":["Began with: Fiscal year 2021.","Report year covers fiscal year.","May have supplement: Salaries and travel reimbursement (Lanier County Board of Education, Ga.)"],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Dept. of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Auditors' reports--Georgia","Financial statements--Georgia","Lanier County (Ga.). Board of Education--Appropriations and expenditures"],"dcterms_title":["Audit report, Lanier County Board of Education, Lakeland, Georgia, year ended June 30, 1998"],"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-bl28-b1997-h98"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1997-h98"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"AUDIT REPORT LANIER COUNTY BOARD OF EDUCATION \nLAKELAND, GEORGIA YEAR ENDED JUNE 30, 1998 \n \n LANIER COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \n \nSECTION I \n \nFINANCIAL \n \nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \n \nEXHIBITS \n \nGENERAL PURPOSE FINANCIAL STATEMENTS \n \nCOMBINED STATEMENTS - OVERVIEW \n \nA \n \nCOMBINED BALANCE SHEET \n \nALL FUND TYPES AND ACCOUNT GROUP \n \n2 \n \nB \n \nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \n \nCHANGES IN FUND BALANCES \n \nALL GOVERNMENTAL FUND TYPES \n \n4 \n \nC \n \nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \n \nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \n \n(NON-GAAP BASIS) \n \nGENERAL AND SPECIAL REVENUE FUNDS \n \n5 \n \nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \n7 \n \nADDmONAL FINANCIAL INFORMATION \n \nCOMBINING STATEMENTS \n \nSPECIAL REVENUE FUND \n \nE \n \nCOMBINING BALANCE SHEET \n \n18 \n \nF \n \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \n \nAND CHANGES IN FUND BALANCES \n \n20 \n \nSCHEDULES \n \n1 SCHEDULE OF REQUIRED SUPPLEMENTARY INFORMATION \n \n22 \n \n2 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \n \n23 \n \n3 SCHEDULEOFSTATEREVENUE \n \n25 \n \n4 SCHEDULE OF EXPENDITURES \n \nLOTTERY PROGRAMS \n \n26 \n \nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \n \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \n \n5 \n \nOVERALL \n \n27 \n \n6 \n \nBY PROGRAM \n \n28 \n \n LANIER COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS- \nSECTIONll COMPLIANCE AND INTERNAL CONTROL REPORTS REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-B3 \nSECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \nSECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS \n \n SECTION I FINANCIAL \n \n RUSSELL W. lIJNTON \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 \nApril 14, 1999 \n \nHonorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board ofEducation \nand Superintendent and Members of the Lanier County Board ofEducation \nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \nLadies and Gentlemen: \nWe have audited the accompanying general purpose financial statements of the Lanier County Board of Education, as of and for the year ended June 30, 1998, as listed in the table of contents. These general purpose financial statements are the responsibility of the Lanier County Board of Education's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. \nWe conducted our audit in accordance with generally accepted auditing standards 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 of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \nAs described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \n* The general purpose financial statements of the Board did not contain a General Fixed Assets \nAccount Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. \n \n98ARL-13B \n \n  School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. \n The Board did not recognize as expenditures, in the year ended June 30, 1998, a portion of salaries and the corresponding employer's cost ofrelated benefitsearnedfor contractual services completed prior to June 30, 1998. Also funds received, subsequent to June 30, 1998, from the Georgia Department ofEducation for the State's share ofthese unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1997, were improperly recorded in the year ended June 30,1998. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \nThe aggregate effects on the general purpose financial statements ofthese variances or omissions have not been determined, but are believed to be material. \nIn our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements referred to above present fairly, in all material respects, the financial position ofthe Lanier County Board ofEducation as ofJune 30, 1998, and the results ofits operations for the year then ended, in conformity with generally accepted accounting principles. \nIn accordance with Government Auditing Standards, we have also issued our report dated April 14, 1999, on our consideration of the Lanier County Board of Education's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. \nThe year 2000 supplementary information on Schedule \"1\" is not a required part of the basic financial statements but is supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries ofmanagement regarding the methods ofmeasurement and presentation ofthe supplementary information. However we did not audit the information and do not express an opinion on it. In addition, we do not provide assurance that Lanier County Board of Education is or will become year 2000 compliant, that the Board's year 2000 remediation efforts will be successful in whole or in part, or that parties with which Lanier County Board ofEducation does business are or will become year 2000 compliant. \nOur audit was performed for the purpose of forming an opinion on the general purpose financial statements \nof the Lanier County Board of Education taken as a whole. The accompanying combining statements (Exhibits E and F) and the financial schedules (Schedules 2 through 6), which includes the Schedule of Expenditures of Federal Awards as required by U. S. Office of Management and Budget Circular A-133, Audits olStates, Local Governments, and Non-Profit Organizations, are presented for purposes ofadditional analysis and are not a required part of the general purpose financial statements. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. \n98ARL-13B \n \n A copy of this report has been filed as a pennanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \nRespectfully submitted, \n \nRWH:jb 98ARL-13B \n \nRussell W. Hinton State Auditor \n \n LANIER COUNTY BOARD OF EDUCATION \n \n LANIER COUNTY BOARp OF EDUCATION COMBINED BALANCE SHEET \nALL FUND TYPES ANp ACCOUNT GROUP JUNE 30 1998 \n \nASSETS \nCash and Cash Equivalents \nInvestments \nAccounts Receivable \nPrepaid Items \nInventories Food Donated Commodities Purchased Food \nAmount to be Provided in Future Years For Payment of Capital Lease Agreements \n \nGOVERNMENTAL FUND \n \nSPECIAL \n \nGENERAL \n \nREVENUE \n \nFUND \n \nFUND \n \n$ \n \n694,207.71 $ \n \n275,276.05 \n \n582,950.00 \n \n224,453.46 \n \n132,974.47 \n \n4,750.74 \n \n7,037.59 1,058.12 \n \nTotal Assets \n \n$ 1,506,361.91 $ \n \n416,346.23 \n \nLIABILITIES AND FUND EQUITY \nLIABILITIES \nAccounts Payable Salaries Payable Notes Payable Expired Grant Balances Payable Unearned Revenue Capital Lease A9reements \nTotal Uabilities \nFUND EQUITY \nFund Balances Reserved For Bus Replacement Funds For Continuation of Federal Programs For Continuation of Slate Programs For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated \nTotal Fund Equity \n \n$ \n \n40,389.01 $ \n \nn,851.69 \n \n117,807.56 \n \n582,950.00 \n \n6,437.14 \n \n668,889.00 \n \n$ 1,292,228.01 $ \n \n202,096.39 \n \n$ \n \n9,641.74 \n \n$ \n \n4,946.72 \n \n25,000.00 \n \n1,058.12 7,037.59 \n \n204,492.16 \n \n176,207.41 \n \n$ \n \n214,133.90 $ \n \n214,249.64 \n \nTotal Uabililies and Fund EqUity \n \n$ 1,506,361.91 $ \n \nThe notes to the general purpose financial statements are an integral part of this statement. -2- \n \n416,346.23 \n \n EXHIBIT \"A\" \n \nTYPES CAPITAL \nPROJECTS FUND \n \nACCOUNT GROUP GENERAL \nLONG-TERM DEBT \n \nTOTALS \n \n(Memorandum Only) \n \nJUNE 30, 1998 \n \nJUNE 30, 1997 \n \n$ \n \n582,85 \n \n$ \n \n970,066,61 $ 1,275,446,97 \n \n582,950,00 \n \n25,000,00 \n \n382,427,93 \n \n159,563,52 \n \n4,750,74 \n \n4,750,74 \n \n$ \n \n366,882,66 \n \n7,037,59 1,058,12 \n366,882,66 \n \n13,514.48 1,767,58 \n425,516,29 \n \n$ \n \n25,582,85 $ \n \n366,882,66 $ 2,315,173,65 $ 1,880,559,58 \n \n$ \n \n118,240,70 $ \n \n215,778,54 \n \n117,807,58 \n \n108,028,11 \n \n582,950,00 \n \n590,000,00 \n \n6,437,14 \n \n10,803,38 \n \n668,889,00 \n \n$ \n \n366,882,66 \n \n366,882,66 \n \n425,516,29 \n \n$ \n \n366,882,66 $ 1,861,207,06 $ 1,350,126,32 \n \n$ \n \n25,582,65 \n \n$ \n \n25,582.85 \n \n$ \n \n25,582.85 $ \n \n$ \n \n9,641,74 $ \n \n22,795,74 \n \n4,946,72 \n \n1,648,10 \n \n25,000,00 \n \n1,058,12 7,037,59 \n \n13,514.48 1,767,58 \n \n406,282.42 \n \n490,707,36 \n \n$ \n \n453,966.59 $ \n \n530,433,26 \n \n366,882.66 $ 2,315,173.85 $ 1,880,559,58 -3- \n \n LANIER COUNJY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES \nALL GOVERNMENTAL FUND JYPES YEAR ENDED JUNE 30 1998 \n \nEXHIBIT\"B\" \n \n~ \nState Funds Federal Funds Taxes Other Funds \nTotal Revenues \nEXPENDITURES \nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration SChooJ Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support services Other Support Services Food Services Operation Enterprise Operations Community Services Operations \nCspilalOutlay Debt Service \nPrincipal Inte....t \nTotal Expenditures \nExcess of Revenues over (under) Expenditures \nOTHER FINANCING SOURCES (USES\u003e \nCapital Leases Operating Transfers In Operating Transfers Out \nTotal Other Financing Sou..... (Uses\u003e \nExcess of Revenues and Othar Financing Souroes over (under) Expenditures and etner Financing Uses \nFUND BALANCE JULY 1 \nFood Inventory Nat Chango in Period Donated Commodities Purchased Food \n \nGENERAL FUND \n \nSPECIAL REVENUE \nFUND \n \nCAPITAL PROJECTS \nFUND \n \nTOTALS Memora \nYEAR JUNE 30 1998 \n \n5,193,993.87 $ 1,925.65 \n1,213,608.10 116069.82 \n \n531,981.83 $ 899,807.26 \n222305.18 \n \n6,525,597.24 \n \n1,654,094.27 \n \n25,000.00 $ \n10000.00 35,000.00 \n \n5,750,975.50 $ 901,732.91 \n1,213,609.10 348,375.00 \n8214691.51 $ \n \n5,311,839.98 929,237.58 988,339.08 239879.47 \n7467295.09 \n \n4,030,239.54 \n \n695,788.43 \n \n349,767.48 338,000.00 169,861.69 201,203.94 495,654.51 146,031.69 460,421.25 270,936.82 \n5,557.80 1,021.65 \n26,234.87 3,225.12 \n \n173,424.00 33,100.13 \n5,233.90 67,108.25 \n15,240.57 4,227.30 \n70,253.53 612,412.62 \n3,379.10 \n \n73,515.63 28516.01 \n \n6600188.00 $ 1680165.83 \n \n-74,590.76 $ -26 071.56 \n \n18,500.00 \n18,500.00 16500.00 \n \n4,726,027.97 \n523,191.48 371,100.13 175,095.59 268,310.19 495,654.51 146,031.69 475,661.82 275,164.12 \n5,557.80 71,275.18 612,412.62 26,234.87 \n3,225.12 21,879.10 \n73,515.83 28516.01 \n8298 853.83 \n-84,162.32 \n \n4,450,242.70 \n420,530.19 328,987.17 173,748.18 255,632.29 430,334.73 110,087.51 448,641.24 255,941.67 \n5,082.86 69,014.56 603,279.39 22,748.64 \n1,362.36 4,380.00 \n66,475.35 32065.22 \n7678534.08 \n211238.97 \n \n14,882.00 -28041.78 -13159.78 $ \n \n28,041.78 28041.78 \n \n-87,750.54 301,884.44 \n \n1,970.22 219,465.97 \n \n-8,476.89 -709.46 \n \n16,500.00 $ 9,082.85 \n \n14,882.00 $ 28,041.78 28041.78 14882.00 $ \n-89,280.32 530,433.26 \n-8,476.89 -709.46 \n \n11,338.74 43.32 -43.32 \n11338.74 \n-199,900.23 723,888.68 \n6,687.06 -22.25 \n \nFUND BALANCE JUNE 30 \n \n214133.90 $ 214249.64 $ \n \n25592.85 $ \n \n453966.59 $ \n \n530433.26 \n \nThe notes to the general purpose financial statements are an integral part of this statement. 4 \n \n LANIER COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BAlANCES \nBUDGET AND ACTUAL - INON-GAAP BASIS\u003e GENERAL AND SPECIAL RE\\iENUE FUNDS \nYEAR ENDED JUNE 30 1998 \n \nEXHIBIT\"C\" \n \nGENERAL FUND \n \nACTUAL \n \n(BUDGET \n \nBUDGET \n \nBASIS) \n \n~ \nState Funds Federal Funds Taxes Other Funds \n \n5,077,101.37 $ \n1,136,084.04 31,250.00 \n \n5,193,993.67 1,926.65 \n1,213,608.10 116,069.82 \n \nTotal Revenues \n \n$ 6,244,435.41 $ 6,626,597.24 \n \nEXPENDITURES \n \nCurrent Instruction Support Services Pupil Services Improvement of Instrudional Services Educational Media Services General Administration SChool Administration Business Administration Maintenance and Operation of Plant Student Transportation Services central Support Services Other Support Services Food Services Operation Enterprise Operations Community services Operations \nCapital OuUay Debt Service \n \n$ 3,967,404.44 $ 4,030,239.64 \n \n314,605.45 346,731.68 168,320.85 191,641.53 460,897.95 173,492.90 431,848.49 249,348.53 \n1,100.00 \n \n349,767.48 338,000.00 169,861.69 201,203.94 495,664.51 146,031.69 460,421.25 270,936.82 \n5,557.80 1,021.65 \n \n20,586.38 \n \n26,234.87 3,225.12 \n \n102,031.64 \n \nTotal Expendnures \n \n6,325,978.20 $ 6,600,188.00 \n \nExcess of Revenues over (under) Expenditures \n \n-81,642.79 $ \n \n-74,590.76 \n \nOTHER FINANCING SOURCES (USES\u003e \n \nOther Sources Other Uses \n \n$ -26.446.67 \n \n14,882.00 -28,041.78 \n \nTotal Other Financing Sources (Uses) \n \n$ \n \n-26,446.67 $ \n \n-13,159.78 \n \nExcess of Revenues and Other Financing Sources over (under) Expendnures and Other Financing Uses $ \n \n-107,989.48 $ \n \n-87,750.54 \n \nFUND BALANCE JULY 1 1997 \n \n313,208.78 \n \n301,884.44 \n \nAdjustments \n \n-31,443.53 \n \nFUND BALANCE JUNE 30 1998 \n \n$ \n \n173,775.79 $ \n \n214,133.90 \n \nSPECIAL REVENUE FUND \n \nACTUAL \n \n(BUDGET \n \nBUDGET \n \nBASIS) \n \n$ \n \n467,165.75 $ \n \n631,981.83 \n \n937,401.96 \n \n899,807.26 \n \n177.744.11 \n \n222,305.18 \n \n$ 1,682,311.82 $ 1,664,094.27 \n \n$ \n \n702,365.93 $ \n \n695,788.43 \n \n87,001.00 64,716.10 \n5,188.00 73,888.00 \n \n173,424.00 33,100.13 6,233.90 67,106.25 \n \n17,740.00 9,256.00 \n73,201.00 688,491.06 \n3,500.00 \n3,379.00 \n \n15,240.67 4,227.30 \n70,253.53 612,412.62 \n3,379.10 \n \n1,618,704.08 $ -36,392.26 $ \n \n1,880,165.83 -26,071.66 \n \n26,946.67 $ \n \n28,041.78 \n \n26,946.67 $ \n \n28,041.78 \n \n-9,445.59 $ 232,274.62 \n-8,393.02 \n \n1,970.22 204,183.91 \n \n$ \n \n214,436.01 $ \n \n206,164.13 \n \nThe notes to the general purpose financial statements are an integral part of this statement. - 5- \n \n  LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30.1998 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nREPORTING ENTITY \nThe Lanier County Board of Education (Board) was established under the laws ofthe State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the Board is a primary government and consists of all the organizations that compose its legal entity. \nFUND ACCOUNTING \nThe Board uses funds and an account group to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a fmancial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \nGeneral Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these fmancial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \nThe general purpose financial statements account for all State, Federal, Taxes and Other funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \nGOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's educational activities. Governmental Fund Types include: \nGENERAL FUND - the fund used to account for all financial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. \nSPECIAL REVENUE FUND - the fund used to account for the proceeds ofspecific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are received primarily from the Georgia Department of Education and from the Federal government to accomplish specific educational objectives. \n- 7- \n \n LANIER COUNTY BOARD OF EDUCAnON \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1998 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction ofmajor capital facilities. \nACCOUNT GROUP \nGENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for material capital lease obligations. \nBASIS OF ACCOUNTING \nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a cUll\"lint financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (Le., revenues and other financing sources) and decreases (Le., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure ofavailable spendable resources. \nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \nGovernmental funds are accounted for using the modified accrual basis of accounting under which: \nRevenues are recognized when susceptible to accrual (Le., when theybecome both measurable and available). \"Measurable\" means the amount ofthe transaction can be determined and \"available\" means collectible within the current period or soon enough thereafter to be used to pay liabilities ofthe current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. \nExpenditures are generally recognized when the related fund liability is incurred. \nA departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share of these contracts. During fiscal year 1998, a substantial number of personnel ofthe Board were employed for a one hundred and ninety day period beginning in late August 1997 and ending in early June 1998. Personnel contracts for this employment period specifY that compensation be paid in twelve equal monthly payments beginning in September 1997 and ending in August 1998. State grants to fund the State's share ofthese contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As of June 30, 1998, compensation under these employment contracts had been earned, but two ofthe twelve monthly payments, due for July and August 1998, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30,1998. Also, the State's portion of the compensation paid in July and August 1998 was received and recorded as revenue in the fiscal year subsequent to June 30, 1998. Conversely, the similar expenditures \n- 8- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"0\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30. 1998 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \n \nand related revenues for contractual services completed prior to June 30, 1997, were recorded in the year ended June 30, 1998. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \n \nBUDGET \n \nThe Lanier County Board of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for alI governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. \n \nThe budget process begins when the Board's administration prepares a tentative 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 ofgeneral circulation in the locality. At the next regular meeting ofthe 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 ofEducation. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. \n \nThe Statement ofRevenues, Expenditures and Changes in Fund Balances - Budget and Actual presents actual and budgeted data for the General Fund and Special Revenue Fund. To facilitate comparison with the budget, the following adjustments have been made to fund balance as reflected on Exhibit \"B\" of this report: \n \nFUND BALANCE JULY 1, 1997 \nAdjustments Inventories - July I, 1997 Food Donated Commodities Purchased Foods \nFund Balance July 1, 1997 (Budget Basis) \nExcess ofRevenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \nFUND BALANCE JUNE 30, 1998 (Budget Basis) \n \nSpecial Revenue \nFund $ 219,465.97 \n-13,514.48 -1.767.58 \n$ 204,183.91 \n1.970.22 $ 20615413 \n \n-9- \n \n LANIER COUNTY BOARD OF EDUCATION. \n \nEXlllBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30.1998 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nCASH AND CASH EQUIVALENTS \nCOMPOSmON OF DEPOSITS Cash and cash equivalents consist of deposits in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. \nINVESTMENTS \nCOMPOSmON OF INVESTMENTS Investments made by the Board in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase ofone year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code ofGeorgia Annotated Section 36-83-4 authorizes the Board to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate ofreturn shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following: \n(I) Obligations issued by the State of Georgia or by other states, \n(2) Obligations issued by the United States government, \n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \n(4) Obligations of any corporation of the United States government, \n(5) Prime banker's acceptances, \n(6) The Local Government Investment Pool administered by the State of Georgia, Office ofTreasury and Fiscal Services, \n(7) Repurchase agreements, and \n(8) Obligations of other political subdivisions of the State of Georgia. \nRECEIVABLES \nReceivables consist ofgrant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose \n10 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXlllBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1998 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \n \nfinancial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \n \nPROPERTY TAXES \n \nThe Lanier County Board of Commissioners fixed the property tax levy for the 1997 tax year (calendar year) on September 19, 1997 (levy date). Taxes were due on December 20, 1997. The lien datefor property taxes was January 1, 1997. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1998. The Lanier County Tax Commissioner bills and collects the property taxes for the Board ofEducation, withholds 2.5% oftaxes collected as a fee for tax collection and remits the balance oftaxes collected to the Board. \n \nThe tax millage rate levied for the 1997 tax year (calendar year) for the Lanier County Board ofEducation was as follows (a mill equals $1 per thousand dollars of assessed value): \n \nSchool ()perations \n \n~mills \n \nINVENTORIES \n \nFOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which indicates that these amounts do not constitute \"available spendable resources\" even though they are a component of net current assets. \n \nPREPAID ITEMS \n \nPayments made to vendors for services that will benefit periods subsequent to June 30, 1998, are recorded as prepaid items. \n \nINTERFUND TRANSACTIONS \n \nThe Board has the following types of interfund transactions: \n \nReimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. \n \n- 11 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30.1998 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \n \nOperating transfers are recorded for all interfund transactions other than residual equity transfers and reimbursements. \n \nMEMORANDUM ONLY - TOTAL COLUMNS \n \nTotal columns on the general purpose financial statements are captioned \"Memorandum Only\" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results ofoperations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. \n \nDEFICIT FUND BALANCES \n \nThe fund reporting a deficit fund balance position at June 30, 1998, is as follows: \n \nFund Tvoe/Fund Name \n \nDeficit Balance \n \nSpecial Revenue Fund Other Programs \n \n$ 10,621.17 \n \nIn the subsequent period the Board received a $30,000.00 grant from the Georgia Department ofCommunity Affairs to provide funding for this deficit \n \nNote 2: DEPOSITS \n \nCOLLATERALIZATION OF DEPOSITS Official Code ofGeorgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, or by col1ateral. The aggregate of the face value of such surety bond and the market value ofsecurities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case ofoperating funds placed in demand deposit checking accounts. \n \nAcceptable security for deposits consists ofanyone of or any combination of the following: \n \n(l) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \n \n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \n \n(3) Bonds, bills, notes, certificates ofindebtedness or other direct obligations ofthe United States or of the State of Georgia, \n \n- 12 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30,1998 \n \nNote 2: DEPOSITS \n \n(4) Bonds, bills, notes, certificates ofindebtedness or other obligations ofthe counties or municipalities of the State of Georgia, \n \n(5) Bonds ofany public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \n \n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and \n \n(7) Bonds, bills, notes, certificates ofindebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \n \nCATEGORIZATION OF DEPOSITS At June 30,1998, the bank balances were $1,986,187.19. The amounts of the total bank balances are classified into three categories of credit risk: \n \nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \n \nThe Board's deposits are classified by risk category at June 30, 1998, as follows: \n \nRisk Category \n1 2 3 \nTotal \nNote 3: NON-MONETARY TRANSACTIONS \n \nBank Balance \n$ 200,000.00 1,480,991.00 305,196.19 \n$ 1 986 187 19 \n \nThe Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \n \n-13 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30.1998 \n \nNote 4: RISK MANAGEMENT \n \nThe Board is exposed to various risks ofloss related to torts; theft of, damage to, and destruction ofassets; errors or omissions; job related illness or injuries to employees; natural disaster and unemployment compensation. \n \nThe Board has obtained commercial insurance for risk ofloss associated with torts, assets, job related illness or injuries to employees and natural disaster. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years. \n \nThe Board has elected to self-insure for all losses related to natural disaster except for flooding for which the Board has purchased commercial insurance. The Board has not experienced any losses related to this risk in the past three years. \n \nThe Board has elected to self-insure for errors or omissions, which includes, among other risks, risks for sexual harassment and discrimination. The Board has not experienced any losses related to these risks in the past three years. \n \nThe Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the same fund that the employee's salary and benefits were paid. Claims are accounted for with expenditure and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. \n \nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \n \nBeginning of Year \nLiability \n \nClaims and Changes in Estimates \n \nClaims Paid \n \nEnd of Year \nLiability \n \n1997 1998 \n \n$ \n \n101.00 $ \n \n5,399.00 $ \n \n5,500.00 $ \n \n0.00 \n \n$ \n \n0.00 $ \n \n645.00 $ \n \n645.00 $ \n \n0.00 \n \nThe Board has purchased surety bonds to provide additional insurance coverage as follows: \n \nPosition Covered \n \nSuperintendent Each Principal Each Bookkeeper Each Nutrition Manager Each Nutrition Cashier \n \n$ 25,000.00 $ 5,000.00 $ 4,000.00 $ 3,000.00 $ 2,000.00 \n \n- 14 - \n \n LANIER COUNTY BOARD OF EDUCAnON \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30.1998 \n \nNote 5: GENERAL LONG-TERM DEBT \n \nCAPITAL LEASES The Lanier County Board ofEducation has entered into various lease agreements as lessee for digital phone systems, copy machines, and an energy management system. These lease agreements qualifY as capital leases for accounting purposes and, therefore, have been recorded at the present value of the future minimum lease payments as of the date of their inception. \n \nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1998, were as follows: \n \nCapital Leases \n \nBalance July 1, 1997 \n \n$ 425,516.29 \n \nAdditions \n \n14,882.00 \n \nDeductions Payments \n \n73.515.63 \n \nBalance June 30,1998 \n \n$ 36688266 \n \nAt June 30, 1998, payments due by fiscal year which includes principal and interest for these items are as follows: \n \nFiscal Year Ended June 30 \n \nCapital Leases \n \n1999 2000 2001 2002 2003 2004 - 2008 \n \n$ 105,311.88 102,533.27 82,407.10 57,008.88 57,008.88 23,753.70 \n \nTotal Principal and Interest \n \n$ 428,023.71 \n \nDeduct: Imputed Interest \n \n61.141.05 \n \nNet Present Value of Future Minimum Lease Payments \n \n$ 36688266 \n \n 15 - \n \n LANIER COUNTY BOARD OF EDUCAnON \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30.1998 \n \nNote 6: ON-BEHALF PAYMENTS \nThe Board has recognized revenues and expenditures in the amount of$ll6,894.34 for health insurance and retirement contributions paid on the Board's behalf by the following State Agencies. \nGeorgia Department ofEducation Paid to the State Merit System of Personnel Administration For Health Insurance of Non-Certified Personnel In the amount 0[$93,562.22 \nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of$8,308.12 \nOffice of Treasury and Fiscal Services Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost In the amount 0[$15,024.00 \nNote 7: CONTINGENT LIABILITIES \nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. lbis could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \nNote 8: SUBSEOUENT EVENTS \nOn November 3, 1998, the voters ofLanier County voted in favor ofa Special Purpose Local Option Sales Tax referendum for education purposes. The imposition of the tax approved by the voters, as stated on the Official Ballot ofLanier County, is as follows: \n\"Shall a special one percent sales and use tax be imposed in the Lanier County School District (Lanier County) for a period of time not to exceed 20 consecutive calendar quarters and for the purpose of raising not more than $1,811,845.00 to construct and equip the capital outlay projects for the Lanier County School District consisting of six classrooms and two restrooms at Lanier County Elementary, addition to dining area at Lanier County Elementary, eight classrooms and two restrooms at Lanier County High School, renovations, and modifications at Lanier County Elementary School and Lanier County High School.\" \n \n- 16- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"0\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1998 \n \nNote 9: RETIREMENT PLANS \n \nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \n \nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone fmancial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. \n \nTRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board ofTrustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 11.81% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: \n \nFiscal Year \n \nPercentage Contributed \n \nRequired Contribution \n \n1998 \n \n100% \n \n$ 530,486.66 \n \n1997 \n \n100% \n \n$ 487,931.47 \n \n1996 \n \n100% \n \n$ 438,915.51 \n \n- 17 - \n \n LANIER COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30 1998 \n \nCash and Cash Equivalents Accounts Receivable Inventories \nFood Donated Commodities Purchased Food \nTotal Assets \n \nSCHOOL FOOD \nSERVICES FUND \n \nLOTTERY PROGRAMS \n \n$ 215,905.81 $ \n \n82,273.74 \n \n3,426.00 \n \n7,037.59 1,058.12 \n \n$ 227,427.52 $ _ _.:::82:;:.,2::;;7,-=3:;.:.7.;;:.4 \n \nLIABILITIES AND FUND EQUITY \nLIABILITIES \nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable \nTotal Liabilities \nFUND EQUITY \nFund Balances Reserved For Continuation of Federal Programs For Continuation of State Programs For Inventories Food Donated Commodities Purchased Food Unreserved Deficit Undesignated \nTotal Fund Equity \n \n$ \n \n2,172.05 $ \n \n42,325.36 \n \n30,331.18 \n \n39,948.38 \n \n$ \n \n32,503.23 $ _ _.::::82\"\"2\",7\"\"3,,,,.7...:..4 \n \n$ \n \n1,058.12 \n \n7,037.59 \n \n186,828.58 $ \n \n0.00 \n \n$ 194,924.29 $ \n \n0.00 \n \nTotal Liabilities and Fund Equity See notes to the general purpose financial statements. \n-18- \n \n$ 227,427.52 $ \n \n82,273.74 \n \n EXHIBIT\"E\" \n \nFEDERAL PROGRAMS \n \nOTHER PROGRAMS \n \nTOTALS JUNE 30, 1998 JUNE 30, 1997 \n \n$ \n \n25,000.00 $ 323,179.55 $ 325,528.53 \n \n$ 129,548.47 \n \n132,974.47 \n \n108,295.26 \n \n7,037.59 1,058.12 \n \n13,514.48 1,767.58 \n \n$ 129,548.47 $ \n \n25,000.00 $ 464,249.73 $ 449,105.85 \n \n$ \n \n37,282.33 $ \n \n33,354.28 \n \n47,528.00 \n \n6,437.14 \n \n$ 124,601.75 $ \n \n10,621.17 $ 10,621.17 $ \n \n47,903.50 77,851.69 $ 117,807.56 \n6,437.14 \n249,999.89 $ \n \n113,235.97 105,697.37 \n10,706.54 \n229,639.88 \n \n$ \n \n4,946.72 \n \n$ \n \n4,946.72 $ \n \n1,648.10 \n \n$ \n \n25,000.00 \n \n25,000.00 \n \n1,058.12 7,037.59 \n \n13,514.48 1,767.58 \n \n-10,621.17 \n \n-10,621.17 \n \n0.00 \n \n0.00 \n \n186,828.58 \n \n202,535.81 \n \n$ \n \n4,946.72 $ \n \n14,378.83 $ 214,249.84 $ 219,465.97 \n \n$ 129,548.47 $ \n \n25,000.00 $ 464,249.73 $ 449,105.85 \n \n-19- \n \n LANIER COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES \nSPECIAL REVENUE FUND YEAR ENDED JUNE 30 1998 \n \nREVENUES \nState Funds Federal Funds Other Funds \nTotal Revenues \nEXPENDITURES \nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration Maintenance and Operation of Plant Student Transportation Services other Support Services Food Services Operation \nCapital Outlay \nTotal Expenditures \nExcess of Revenues over (under) Expenditures \nOTHER FINANCING SOURCES \nOperating Transfers In \nExcess of Revenues and other Financing Sources over (under) Expenditures \nFUND BALANCE JULY 1 \nFood Inventory - Net Change in Period Donated Commodities Purchased Food \nFUND BALANCE JUNE 30 \nSee notes to the general purpose financial statements. \n- 20- \n \nSCHOOL FOOD \nSERVICES FUND \n \nLOTIERY PROGRAMS \n \n$ \n \n40,196.00 $ \n \n416,785.83 \n \n386,969.99 \n \n167,461.18 \n \n$ 594.627.17 $ 416,785.83 \n \n$ \n \n348,004.16 \n \n48.848.74 2.314.31 \n \n$ 610.334.40 \n \n15,240.57 255.17 44.67 \n2.078.22 \n \n$ 610,334.40 $ 416.785.84 \n \n$ \n \n-15,707.23 $ \n \n-0.01 \n \n0.01 \n \n$ \n \n-15,707.23 $ \n \n0.00 \n \n217.817.87 \n \n0.00 \n \n-6,476.89 -709.46 \n \n$ 194.924.29 $ \n \n0.00 \n \n EXHIBIT\"F\" \n \nFEDERAL PROGRAMS \n \nOTHER PROGRAMS \n \nTOTALS YEAR ENDED JUNE 30,1998 JUNE 30, 1997 \n \n$ \n \n$ \n \n512,837.27 \n \n75,000.00 $ 54,844.00 \n \n531,981.83 $ 899,807.26 222,305.18 \n \n433,606.14 872,830.42 162,501.61 \n \n$ \n \n512,837.27 $ \n \n129,844.00 $ 1,654,094.27 $ 1,468,938.17 \n \n$ \n \n347,784.27 \n \n$ 695,788.43 $ 633,573.98 \n \n9,110.09 $ 30,785.82 \n5,233.90 67,106.25 \n3,972.13 70,208.86 \n3,379.10 \n \n115,465.17 \n \n173,424.00 33,100.13 \n5,233.90 67,106.25 15,240.57 \n4,227.30 70,253.53 612,412.62 \n3,379.10 \n \n53,193.20 26,262.50 \n7,910.15 77,134.73 \n1,078.66 13,791.54 68,693.95 591,764.69 \n \n$ \n \n537,580.42 $ \n \n115,465.17 $ 1,680,165.83 $ 1,473,403.40 \n \n$ \n \n-24,743.15 $ \n \n14,378.83 $ \n \n-26,071.56 $ \n \n-4,465.23 \n \n28,041.77 \n \n28,041.78 \n \n43.32 \n \n$ \n \n3,298.62 $ \n \n14,378.83 $ \n \n1,970.22 $ \n \n-4,421.91 \n \n1,648.10 \n \n0.00 \n \n219,465.97 \n \n217,223.07 \n \n-6,476.89 -709.46 \n \n6,687.06 -22.25 \n \n$ \n \n4,946.72 $ \n \n14,378.83 $ 214,249.64 $ 219,465.97 \n \n- 21 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nSCHEDULE \"1\" \n \nSCHEDULE OF REOUIRED SUPPLEMENTARY INFORMATION \n \nYEAR 2000 DISCLOSURES \n \nYEAR ENDED JUNE 30. 1998 \n \nAt June 30, 1998, the Lanier County Board ofEducation had no outstanding contractual commitments for the purpose ofmaking computer systems and other electronic equipment year 2000 compliant The year 2000 issue is the result ofshortcomings in many electronic data processing systems and other equipment that make operations beyond year 1999 troublesome. The year 2000 issue is ofprimary concem for the Board's financial accounting system. The following stages have been identified as necessary to implement a year 2000 compliant systems. \nAwareness Stage - Encompasses establishing a budget and project plan for dealing with the year 2000 issue. \nAssessment Stage - The actual process of identifying all of its systems and individual components of the systems to check for compliance. \nRemediation Stage - When changes are made to systems and equipment. \nValidationffesting Stage - The process of ensuring that the changes made to systems and equipment will produce a year 2000 compliant system. \nIt will be necessary for the Board to progress through all four of these stages for each computer and/or electronic system, not a1ready year 2000 compliant, in order to assure that these systems will not be adversely affected. As ofJune 30, 1998, the financial accounting system was determined to be at the Awareness Stage. \nThe Board's financial accounting software (GENESIS) and hardware (Wang VS) is owned by the State (Georgia Department ofEducation). These systems have been determined to be critical to the Board's ability to successfully conduct operations. As ofJune 30, 1998, the State had not contracted for the remediation of either the Wang VS operating system or the GENESIS accounting software. In the subsequent period, the Georgia Department of Education remediated the Wang VS operating system and the updated operating system was installed at all GENESIS sites as of December 9, 1998. The Georgia Department ofEducation has remediated the GENESIS software and conducted tests at nine pilot sites. The remediated GENESIS software has been provided to all boards ofeducation currently utilizing the GENESIS accounting software. \n \nSee notes to the general purpose fmancial statements. - 22- \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \nYEAR ENDED JUNE 30 1998 \n \nSCHEDULE \"2\" \n \nFUNDING AGENCY PROGRAM/GRANT \n \nCFOA NUMBER \n \nAgriculture, U. S. Department of Pass-Through From Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1998 Grant National School Lunch Program 1998 Grant Food Distribution Program (1) \n \n. 10.553 10.555 10.550 \n \nTotal U. S. Department of Agriculture \n \nEducation, U. S. Department of Direct Impact Aid 1998 Grant Pass-Through From Berrien County Board of Education dlb/e Southern Pine Migrant Education Agency Elemental)/ and secondal)/ Education Act Tille I Migrant Education 1998 RegUlar Pass-Through From Georgia Department of Education Safe and Drug-Free Schools 1998 Grant Elemental)/ and secondal)/ Education Act TRlel Grants to Local Educational Agencies 1998 Grant Trtlell Eisenhower Professional Development 1997 Grant 1998 Grant TItle VI Innovative Education Program Strategies \n1998 Grant Individuals with Disabilities Education Act \nPart B - Special Education Flow Through 1998 Grant Preschool 1998 Grant \nVocational Education - Basic Grants to States \nHigh School Program Basic Grant 1998 Grant \nTech-Prep Education 1998 Grant \n \n84.041 \n84.011 84.186 \n84.010 84.281 84.281 84.298 \n64.027 64.173 \n64.048 84.243 \n \nTotal U. S. Department of Education \n \nLabor, U. S. Department of Pass-Through From South Georgia Regional Development \nCenter Job Training Partnership Act PY97-11B-2 \n \n17.250 -23- \n \nPASSTHROUGH \nENTITY 10 \nNUMBER \n \nFEDERAL REVENUE IN PERIOD \n \nEXPENDITURES IN PERIOD \n \nN/A \n \n$ \n \nN/A N/A \n \n$ \n \n98,125.38 \n255,248.14 $ 35,596.47 \n386,989.99 $ \n \n(2) \n574,737.93 (3) 35,596.47 \n610,334.40 \n \n$ \n \n1,925.65 \n \n(4) \n \nN/A \n \n11,330.53 $ \n \n10,238.01 \n \nN/A \n \n4,562.95 \n \n4,562.95 \n \nN1A \n \n352,593.43 \n \n352,593.43 \n \nN1A \n \n1,848.10 \n \nN1A \n \n17,500.00 \n \n13,645.80 \n \nN1A \n \n8,613.00 \n \n8,613.00 \n \nN1A \n \n48,506.16 \n \n48,506.16 \n \nN1A \n \n10,982.24 \n \n10,982.24 \n \nN1A N1A \n$ \n \n23,952.00 11,747.46 491,713.42 \n \n23,952.00 13,536.23 (3) 488,277.92 \n \nN/A \n \n15,075.82 $ \n \n15,075.82 \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \nYEAR ENDED JUNE 30 1998 \n \nSCHEDULE \"2\" \n \nFUNDING AGENCY PROGRAM/GRANT \nOTHER FEDERAL ASSISTANCE \nDefense, U. S. Department of Pas..Through From Defense Activity for No....Traditional Education Support (DANTES) Troops To Teachers Grant 1998 Grant \n \nCFDA NUMBER \n \nPASSTHROUGH \nENTITY ID \nNUMBER \n \nFEDERAL REVENUE IN PERIOD \n \nEXPENDITURES IN PERIOD \n \nN1A \n \n$ \n \n7,973.66 $ \n \n34,226.68 (3) \n \nTotal Federal Financial Assistance \n \n$ \n \n901,732.91 $ \n \nN1A = Not Available \n \nNotes to the Schedule of Expenditures of Federal Awards \n \n(1) The amounts shown for the Food Distribution Program represents the Federally assigned value 01 nonmonetary assistance for donated commodities received andlor consumed by the system during the current fiscal year. \n(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1998 National School Lunch Program. \n(3) ExpendRures for this program include State, and/or Other Funds. Expenditures are not maintained by lund source. \n(4) ExpendRures on this progrem were not maintained by lund source. \nMajor Progrems are identified by an asterisk r\u003e in front 01 the CFDA number. \n \nThe Board did not provide Federal Assistance to any Subreclplenl. \n \nThe accompanying schedule of expenditures 01 Federal awards Inciudesthe Federal grant ectivity of the Lanier County Boerd 01 Education end is prasented on the modified accrual basis 01 accounting which is the same basis 01 accounting used In the prasentation of the general purpose financial statements. \n \n1,147,914.82 \n \nsee notes to the general purpose financial statements. \n \n-24- \n \n LANIER COUNTY BOARO OF EDUCATION SCHEDULE OF STATE REl/ENUE YEAR ENDED JUNE 30 1998 \n \nSCHEDULE \"3\" \n \nAGENCYIFUNDING \nGRANTS Community Affairs, Georgia Department of Local Assistance Grant \nEducation, Georgia Department 01 Quality Basic Education General and Career Education Programs Special Education Programs Remediel Education Program Media center Programs Staff Development Programs Indirect Cost Pupil Transportation RegUlar Bus Replacement Sparsity Grant Middle School Incentive Program Special Instructional Assistance In-School Suspension Mid-te\"\" Adjustment Counsetors Grades 4 and 5 Technology Training Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Ad Valorem Tax Adjustment A1temative Program Apprentioaship Program AloRis!\u003c Summer School Program Family Connection Health Insurance Preschool Handicapped Program Remedial Summer School Program Teachers' Retirement Tuilion for the Muili-Handicapped Lottery Programs Ailemative School Program Instructional Technology Classroom Technology \nOffice of School Readiness Pre-Kindergarten Program \nOffice of Treasury and Fiscal Services Public School Employees Retirement \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nCAPITAL \n \nGENERAL \n \nREVENUE \n \nPROJECTS \n \nFUND \n \nFUND \n \nFUND \n \nTOTAL \n \n$ \n \n50,000.00 $ \n \n25,000.00 $ \n \n75,000.00 \n \n2,724,718.00 283,151.00 96,001.00 110,401.00 34,781.00 785,736.00 \n144,765.00 36,256.00 72,664.00 105,199.00 \n210,848.00 78,363.00 1,300.00 10,556.00 28,842.00 \n-278,736.00 422,727.00 \n13,805.00 \n20,702.00 48,757.00 50,000.00 \n5,951.75 \n93,562.22 11,978.00 \n3,169.77 8,308.12 53,165.81 \n15,024.00 \n \n40,196.00 \n25,000.00 \n4,132.00 53,000.00 359,653.83 \n \n2,724,718.00 283,151.00 98,001.00 110,401.00 34,781.00 785,736.00 \n144,765.00 36,256.00 72,664.00 105,199.oo 210,848.00 78,363.00 \n1,300.00 10,556.00 28,842.00 -278,738.00 422,727.00 40,196.00 13,805.00 \n20,702.00 48,757.00 50,000.00 \n5,951.75 25,000.00 93,562.22 11,978.oo \n3,169.77 8,308.12 53,165.81 \n4,132.00 \n53,000.00 \n359,653.83 \n15,024.00 \n \n$ 5,193,993.67 $ \n \n531,981.83 $ \n \n25,000.00 $ 5,750,975.50 \n \nSee notes to the general purpose financial statements. \n \n-25- \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES LOTIERY PROGRAMS YEAR ENPED JUNE 30 1998 \n \nSCHEDULE \"4\" \n \nEXPENDITIJRES \n \nALTERNATIVE SCHOOL PROGRAM \n \nINSTRUCTIONAL TECHNOLOGY CLASSROOM TECHNOLOGY \n \nPRE-KINDERGARTEN PROGRAM \n \nCurrent \n \nInstruction \n \n$ \n \nSupport 5eNices \n \nPupil SeNices \n \nImprovement of Instructional 5eNices \n \nMaintenance and Operation of Plant \n \nStudent Transportation Services \n \nOther Support SeNices \n \nFood Services OperatiOn \n \n4,132.00 $ \n \n53,000.00 $ \n \n290,872.16 $ \n48,848.74 2,314.31 \n15,240.57 255.17 44.67 \n2,078.22 \n \nTOTAL \n348,004.16 \n48,848.74 2,314.31 15,240.57 255.17 44.67 2,078.22 \n \nTotal Expenditures \n \n$ \n \n4,132.00 $ \n \n5MOO.00 $ \n \n359,653.84 $_...;:4~16::.,7:.:8:::5:::.84~ \n \nRECAP: Salaries and Benefits Pre-Kindergarten Program Other Expenditures Alternative School Program Instructional Technology Classroom Technology Pre-Kindergarten Program \n \n$ 325,254.81 \n4,132.00 \n53,000.00 34,399.03 \n \n$ 416,785.84 \n \n5ee notes to the general purpose financial statements. \n \n-26- \n \n LANIER COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30 1998 \n \nSCHEDULE \"5\" \n \nMinimum Expenditure Requirements (Total Allotment) Expend~ures on Combined Program Basis \nSalaries Operations \nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \nExpend~ures per Audit \nAmount of Underexpend~urefor Total Allotment \n \nFOURTEEN WEIGHTED AND MEDIA CENTER \nPROGRAMS \n \n100% TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS \n \n$ \n \n3,217,571.00 $ \n \n109,490.00 \n \n$ \n \n3,377,120.39 \n \n214,400.00 $ \n \n$ \n \n3,591,520.39 \n \n194,100.00 \n \n-32,466.85 \n \n$ \n \n3,559,053.54 \n \n$ \n \n0.00 $ \n \n0.00 \n \nSee notes to the general purpose financial statements. - 27 - \n \n LANIER COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30 1998 \n \nGENERAL AND CAREER EDUCATION PROGRAMS Kindergerten (1 Grades 1 - 3 (1 Sub-Total- K-3 \nGrades4-5 M \nGrades6-8M \nGrades 9 -12 M High School Laboratories (1 Vocational Education Laboratories M \nTotal General end career Education Programs \nSPECIAL EDUCATION PROGRAMS Regular Programs \nCatago!y I M \nCatagoryliM CatagoryIII M \nSUb-Total- Ragular Catagory VI (Gifted) (\") \nTotal Special Education Programs \nREMEDIAL EDUCATION PROGRAM r\u003e \nTotal Fourteen Wei9hted Programs MEDIA CENTER PROGRAMS \nSalaries Operations \nTotal Media center Programs \n \nALLOTMENTS FROM DEPARTMENT OF EDUCATION \n \nREQUIRED \n \nORIGINAL -:lL. \n \nORIGINAL \n \nMID-TERM \n \n264,015.00 716,628.00 980,643.00 90 315,161.00 90 622,525.00 90 269,781.00 90 246,318.00 90 290,292.00 90 2,724,718.00 \n \n237,613.50 644,965.20 882,578.70 $ 283,644.90 560,272.50 242,802.90 221,664.40 261,282.80 2.452.248.20 \n \n0.00 0.00 1,300.00 \n1,300.00 \n \n256,422.00 \n \n230,779.80 $ \n \n0.00 \n \n256,422.00 90 26,729.00 90 \n283,151.00 98,001.00 90 \n3.105.870.00 \n88,835.00 90 21.766.00 90 110,401.00 \n \n230,779.80 24,058.10 254,835.90 88,200.90 2,795,283.00 $ \n79.771.50 19,589.40 99.380.90 \n \n0.00 \n0.00 0.00 1,300.00 \n0.00 0.00 \n \nTotal Fourteen Wel9hted end Media center Program. \n \n3.216.271.00 \n \n2,894.643.90 $ \n \n1,300.00 \n \nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \n \n10,100.00 24.881.00 \n \n10.100.00 \n \n0.00 \n \n24.681.00 \n \nTotal Staff Development Programs (\") Identifies Fourteen wetghted Programs. See notes to the general purpose financial statements. \n \n34.781.00 100 $ \n \n34.781.00 $ \n \n0::..00::::, \n \n- 28 - \n \n SCHEDULE \"6\" \n \nTOTAL REQUIRED \n \nACTUAL EXPENDITURES \n \nSALARIES \n \nOPERATIONS \n \nTOTAL \n \nAMOUNT OF UNDEREXPENDITURE \nFOR REQUIRED ALLOTMENT \n \n237,613.50 $ \n \n257,001.51 \n \n9,300.00 \n \n266,301.51 \n \n644,965.20 \n \n687,ln.70 \n \n27,600.00 \n \n714,777.70 \n \n$ \n \n882,578.70 \n \n944,179.21 \n \n36,900.00 \n \n981,079.21 \n \n0.00 \n \n284,944.90 \n \n377,608.69 \n \n17,800.00 \n \n395,408.69 \n \n0.00 \n \n560,272.50 \n \n614,746.35 \n \n26,100.00 \n \n642,846.35 \n \n0.00 \n \n242,802.90 \n \n267,906.00 \n \n23,100.00 \n \n291,006.00 \n \n0.00 \n \n221,684.40 \n \n390,042.93 \n \n17,000.00 \n \n407,042.93 \n \n0.00 \n \n261,262.80 \n \n232,513.78 \n \n63,430.00 \n \n295,943.78 \n \n0.00 \n \n2,453,546.20 \n \n2,826,996.96 \n \n188,330.00 \n \n3,013,326.96 \n \n230,779.80 \n \n28,931.31 104,642.82 176,198.42 \n \n205.00 1,055.00 4,158.00 \n \n29,136.31 105,697.82 180,356.42 \n \n230,779.80 \n \n309,772.55 $ \n \n5,418.00 \n \n315,190.55 \n \n0.00 \n \n24,056.10 \n \n27,177.88 \n \n1,000.00 \n \n28,177.88 \n \n0.00 \n \n254,835.90 \n \n338,950.23 \n \n6,418.00 $ \n \n343,368.23 \n \n88,200.90 \n \n90,805.36 \n \n1,362.00 \n \n91,957.36 \n \n0.00 \n \n2,796,583.00 $ 3,254,552.54 \n \n194,100.00 \n \n3,448,852.54 \n \n$ \n \n79,771.50 \n \n122,567.85 \n \n122,567.85 \n \n0.00 \n \n19,589.40 \n \n20,300.00 \n \n20,300.00 \n \n0.00 \n \n99,380.90 \n \n122,587.85 \n \n20,300.00 \n \n142,867.85 \n \n2,895,943.90 $ \n \n3,377,120.39 S \n \n214,400.00 $ 31591,520.39 $ \n \n0.00 \n \n10,100.00 24,681.00 \n34,781.00 \n \n13,400.00 24,681.00 \n \n13,400.00 24,681.00 \n \n38,081.00 $ _ _,;;38;:\".08.;,;1_.0;:;.0 \n \n0.00 \n \n- 29 - \n \n SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS \n \n RUSSELL W. HINTON \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 \nApril 14, 1999 \n \nHonorable Roy E. Bames, Governor Members of the General Assembly Members of the State Board of Education \nand Superintendent and Members of the Lanier County Board of Education \nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nLadies and Gentlemen: \nWe have audited the financial statements ofLanier County Board of Education as of and for the year ended June 30, 1998, and have issued our report thereon dated April 14, 1999. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. \nCompliance \nAs part of obtaining reasonable assurance about whether Lanier County Board of Education's financial statements are free of material misstatement, we performed tests ofits compliance with certain provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination offinancial statement amounts. However, providing an opinion on compliance with those provisions was not an objective ofour audit and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. \nInternal Control Over Financial Reporting \nIn planning and performing our audit, we considered Lanier County Board ofEducation's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the fmancial statements and not to provide assurance on the internal control over financial reporting, However, we noted certain matters involving the internal control over financial reporting and its operation \n98YB-40 \n \n that we consider to be reportable conditions. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control over financial reporting that, in our judgement, could adversely affect Lanier County Board of Education's ability to record, process, summarize and report financial data consistent with assertions of management in the financial statements. Reportable conditions are described in the accompanying Schedule ofFindings and Questioned Costs as items FS-6861-98-01 and FS-6861-98-02. \nA material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control that might be reportable conditions and accordingly, would notnecessarily disclose all reportable conditions that are also considered to be material weaknesses. However, all of the reportable conditions described above, are also considered to be material weaknesses. \nThis report is intended for the information of management, the Federal cognizant agency, Federal awarding agencies and pass through entities. This restriction is not intended to limit the distribution ofthis report which is a matter of public record. \nRespectfully submitted, \n~~W).~ Russell W. Hinton State Auditor \nRWH:jb 98YB-40 \n \n RUSSELL W. HINTON \nSTAlE AUDITOR \n(404) 656-2174 \n \nDEPARTMENt OF AUDITS AND ACCOUNTS \n254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 \nApril 14, 1999 \n \nHonorable Roy E. Barnes, Governor Members ofthe General Assembly Members ofthe State Board of Education \nand Superintendent and Members of the Lanier County Board of Education \nREPORT ON COMPLIANCE WITH REOUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB ClRCULARA-133 \nLadies and Gentlemen: \nCompliance \nWe have audited the compliance of Lanier County Board of Education with the types of compliance \nrequirements described in the u.s. Office ofManagement and Budget (OMB) Circular A-I33 Compliance \nSupplement that are applicable to each ofits major Federal programs for the year ended June 30, 1998. Lanier County Board ofEducation's major Federal programs are identified in the accompanying Schedule ofFindings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each ofits major Federal programs is the responsibility of Lanier County Board of Education's management Our responsibility is to express an opinion on Lanier County Board of Education's compliance based on our audit. \nWe conducted our audit of compliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in Govermnent Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits ofStates. Local Governments, and Non-Profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the 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 the Lanier County Board of Education's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on Lanier County Board of Education's compliance with those requirements. \n \n98SA-IO \n \n In our opinion, the Lanier County Board of Education complied, in all material respects, with the requirements referred to above that are applicable to each of its major Federal programs for the year ended June 30,1998. \nInternal Control Over Compliance \nThe management of Lanier County Board of Education is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts and grants applicable to Federal programs. In planning and performing our audit, we considered Lanier County Board ofEducation's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A-B3. \nOur consideration of the internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a condition in which the design or operation ofone or more ofthe internal control components does not reduce to a relatively low level ofrisk that noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in relation to a major Federal program being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses. \nThis report is intended for the information of management, the Federal cognizant agency, Federal awarding agencies and pass through entities. This restriction is not intended to limit the distribution ofthis report which is a matter of public record. \nRespectfully submitted, \n \nRWH:jb 98SA-I0 \n \nRussell W. Hinton State Auditor \n \n SECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \n \n LANIER COUNTY BOARD OF EDUCATION AUDITEE'S RESPONSE \nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND OUESTIONED COSTS YEAR ENDED JUNE 30, 1998 \n \nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND OUESTIONED COSTS \n \nFINDING CONTROL NUMBER AND STATUS \n \n6861-93-01 6861-93-03 FS-6861-97-01 FS-6861-97-02 \n \nFurther Action Not Warranted Further Action Not Warranted Unresolved - See Corrective ActionlResponses Unresolved - See Corrective ActionlResponses \n \nCORRECTIVE ACTIONIRESPONSES \n \nCASH AND CASH EQUIVALENTS Inadequate Separation of Duties Finding Control Number: FS-6861-97-01 \nOur school system does not receive the funding necessary to employ a staff large enough to provide for an adequate separation of duties. However, steps are taken with the existing staff to separate \nthe duties as much as possible. \n \nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number: FS-6861-97-02 \n \nA General Fixed Assets Account Group is not possible at this time due to the expense of establishing a cost for the existing assets of the system. \n \n SECTION IV FINDlNGS AND QUESTIONED COSTS \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND OUESTIONED COSTS \nYEAR ENDED JUNE 30, 1998 \n \nSUMMARY OF AUDITOR'S RESULTS \n \n1. Type of Report Issued on the Financial Statements The auditor's opinion on the Lanier County Board of Education's financial statements was qualified for various departures from generally accepted accounting principles. \n \n2. Reportable Conditions in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the Lanier County Board of Education disclosed financial statement reportable conditions related to the following control categories. \n \nCash and Cash Equivalents \n \nGeneral Fixed Assets \n \nAll ofthe reportable conditions described above are considered to be material weaknesses, \n \n3. Noncompliance Material to the Financial Statements The audit ofthe Lanier County Board ofEducation disclosed no instances ofnoncompliance that were deemed to be material to the financial statements. \n \n4. Reportable Conditions in Intemal Control Over Major Programs The audit report for the Lanier County Board of Education did not disclose any reportable conditions in internal control over major programs. \n \nS. Type of Report Issued on Compliance for Major Programs The auditor's opinion on the Lanier County Board of Education's report on compliance with requirements applicable to major programs was unqualified. \n \n6. Audit Findings Required to be Reported by Section .510(a) ofOMB Circular A-B3 The Lanier County Board ofEducation's audit did not disclose audit findings required to be reported by section .SIO(a) ofOMB Circular A-B3. \n \n7. Major Programs Federal awards audited as major programs are as follows: 10.5S3 Food and Nutrition Program - Food Services - School Breakfast Program 10.SSS Food and Nutrition Program - Food Services - National School Lunch Program \n \n8. Type \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000.00 \n \n9. Low Risk Auditee The Lanier County Board of Education was audited as a low risk auditee based on a waiver granted by the U. S. Department of Education. \n \n-I - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND OUESTIONED COSTS \nYEAR ENDED JUNE 30. 1998 \n \nIT FINANCIAL STATEMENT FINDINGS AND OUESTIONED COSTS \n \nCASH AND CASH EQUIVALENTS \n \nInadequate Separation ofDuties \n \nReportable Condition - Material Weakness Repeated from Prior Year \n \n \n \nFinding Control Number: FS-6861-98-01 \n \nThe accompanying procedures ofthe Board were insufficient to provide for adequate separation ofemployee \nduties relative to cash and cash equivalents for all funds. The following deficiency was noted: \n \nThe cash receipt collection and deposit preparation functions were not separated from the general ledger posting function. \n \nThis deficiency was the result of management's decision to limit the number of administrative staff made responsible for accounting functions. Management should periodically review this decision to determine if employee duties can be reassigned to achieve a higher degree of internal control with existing staff. \n \nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition - Material Weakness Repeated from Prior Year Finding Control Number: FS-6861-98-02 \n \nThe Lanier County Board of Education did not maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by general accepted accounting principles. This condition results in the general purpose financial statements ofthe Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance ofa General Fixed Assets Account Group. These subsidiary records should include an inventory of land, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition costs, estimated replacement cost, location and description. Detailed records should be maintained ofall additions and deletions to the General Fixed Assets Account Group. \n \nill FEDERAL AWARD FINDINGS AND OUESTIONED COSTS \n \nNo matters were reported. \n \n-2- \n \n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1996-h97","title":"Audit report, Lanier County Board of Education, Lakeland, Georgia, year ended June 30, 1997","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Lanier County, 31.03789, -83.06265"],"dcterms_creator":["Georgia. 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Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1996-h97"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1996-h97"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":null},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1995-h96","title":"Audit report, Lanier County Board of Education, Lakeland, Georgia, year ended June 30, 1996","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Lanier County, 31.03789, -83.06265"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1996-06-30"],"dcterms_description":["Began with: Fiscal year 2021.","Report year covers fiscal year.","May have supplement: Salaries and travel reimbursement (Lanier County Board of Education, Ga.)"],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Dept. of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Auditors' reports--Georgia","Financial statements--Georgia","Lanier County (Ga.). Board of Education--Appropriations and expenditures"],"dcterms_title":["Audit report, Lanier County Board of Education, Lakeland, Georgia, year ended June 30, 1996"],"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-bl28-b1995-h96"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1995-h96"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"GA A$JoO .R\\ \nE: :).6 \nL:;;.2 \n1995-Q, \n \nAUDIT REPORT LANffiR COUNTY BOARD OF EDUCATION \nLAKELAND,GEORGlA YEAR ENDED JUNE 30, 1996 \n \nSTATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \n254 WASHINGTON STREET \nATLANTA, GEORGIA 30334-8400 \n \n LANmR COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \n \nSECTION I \n \nFINANCIAL \n \nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \n \nEXIDBITS \n \nGENERAL PURPOSE FINANCIAL STATEMENTS \n \nCOMBINED STATEMENTS - OVERVIEW \n \nA \n \nCOMBINED BALANCE SHEET \n \nALL FUND TYPES AND ACCOUNT GROUP \n \n2 \n \nB \n \nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \n \nCHANGES IN FUND BALANCES \n \nALL GOVERNMENTAL FUND TYPES \n \n3 \n \nC \n \nSTATEMENT OF REVENUES, EXPENDITURES AND \n \nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \n \n(NON-GAAP BASIS) \n \nGENERAL AND SPECIAL REVENUE FUNDS \n \n5 \n \nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \n6 \n \nADDITIONAL FINANCIAL INFORMATION \n \nCOMBINING STATEMENTS \n \nSPECIAL REVENUE FUND \n \nE \n \nCOMBINING BALANCE SHEET \n \n18 \n \nF \n \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \n \nAND CHANGES IN FUND BALANCES \n \n20 \n \nSCHEDULES \n \n1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \n \n22 \n \n2 CASH AND CASH EQUIVALENTS \n \n23 \n \n3 ACCOUNTS RECEIVABLE \n \n24 \n \nSCHEDULE OF REVENUE \n \n4 \n \nSTATE \n \n25 \n \n5 \n \nTAXES AND OTHER \n \n26 \n \nSCHEDULE OF EXPENDITURES BY OBJECT \n \n6 \n \nGOVERNMENTAL FUND TYPES \n \n27 \n \n7 \n \nLOTTERY PROGRAMS \n \n28 \n \n LANffiRCOUNTYBOARD OF EDUCATION - TABLE OF CONTENTS - \n \nSECTION I \n \nFINANCIAL \n \nADDITIONAL FINANCIAL INFORMATION \n \nSCHEDULES \n \nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \n \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \n \n8 \n \nOVERALL \n \n29 \n \n9 \n \nBY PROGRAM \n \n30 \n \n10 SCHEDULE OF COMPENSATION OF BOARD MEMBERS \n \n32 \n \nSECTION II \nCOMPLIANCE \nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nSINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS \nSINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS \nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \n \nSECTION III \nINTERNAL CONTROL \nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nSINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \n \n LANIER COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \nSECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \n \n SECTION I FINANCIAL \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nAugust 14, 1997 \n \nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board of Education \nand Superintendent and Members ofthe Lanier County Board of Education \nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \nLadies and Gentlemen: \nWe have audited the general purpose fmancial statements (Exhibits A through D) ofthe Lanier County Board of Education, as of and for the year ended June 30, 1996, as listed in the table of contents. These financial statements are the responsibility of the Board's management. Our responsibility is to express an opinion on these financial statements based on our audit. \nWe conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, \"Audits of State and Local Governments\". Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall fmancial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \nAs described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \n* The general purpose financial statements of the Board did not contain a General Fixed Assets \nAccount Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. \n96ARL-13 \n \n * School activity accounts maintained at the individual schools are not included in the general purpose \nfinancial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose fmancial statements. \n* The Board did not recognize as expenditures, in the year ended June 30, 1996, a portion of salaries \nand the corresponding employer's cost ofrelated benefits earned for contractual services completed prior to June 30, 1996. Also funds received, subsequent to June 30, 1996, from the Georgia Department of Education for the State's share ofthese unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1995, were improperly recorded in the year ended June 30, 1996. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \n* The Board did not record the future obligations relating to capital lease agreements at the net present \nvalue of the future minimum lease payments. To conform to generally accepted accounting principles, these agreements should be recorded as such in the general purpose fmancial statements. \nThe aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material. \nIn our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Lanier County Board of Education as of June 30, 1996, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. In accordance with Government Auditing Standards, we have also issued a report dated August 14, 1997, on our consideration ofthe Board's internal control structure and a report dated August 14, 1997, on its compliance with laws and regulations. \nOur audit was conducted for the purpose of forming an opinion on the general purpose financial statements ofthe Lanier County Board ofEducation taken as a whole. The combining statements (Exhibits E and F) and the fmancial schedules (Schedules 1 through 10 which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the Lanier County Board of Education. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. \n96ARL-13 \n \n A copy of this report has been filed as a pennanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \nRespectfully submitted, \n~ \nClaude L. Vickers State Auditor \nCLV:cm 96ARL-13 \n \n LANIER COUNTY BOARD OF EDUCA.nON - 1- \n \n LANIER COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET \nALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 1996 \n \nEXHIBIT \"A\" \n \nASSETS \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nCAPITAL \n \nGENERAL \n \nREVENUE PROJECTS \n \nFUND \n \nFUND \n \nFUND \n \nACCOUNT GROUP GENERAL \nLONG-TERM DEBT \n \nTOTALS (Memorandum Only) JUNE 30, 1996 JUNE 30, 1995 \n \nCash and Cash Equivalents \n \n$ 934,754,50 $ 287,526,04 \n \n$ 1,222,280,54 $ 1,040,648,42 \n \nAccounts Receivable \n \n83,403,57 \n \n92,842,76 $ 3,750.00 \n \n179,996,33 \n \n232,010,80 \n \nPrepaid Items \n \n4,750,74 \n \nInventories Food Donated Commodities Purchased Food \n \n6,827,42 1,789,83 \n \n6,827.42 1,789,83 \n \n4,405,79 1,250.26 \n \nAmount to be Provided in Future Years For Payment of Capital Lease Agreements \n \n$ \n \n590,807,97 \n \n590,807,97 \n \n591,870,15 \n \nTotal Assets \n \n$ 1,018,158,07 $ 388,986.05 $ 3,750,00 $ \n \n59D.807.97 $ 2,001:702.09 $ 1,874,936,16 \n \nLIABILITIES AND FUND EQUITY \n \nLIABILITIES \n \nCash Overdraft \n \nAccounts Payable \n \n$ \n \nSalaries Payable \n \nNotes Payable \n \nInterest Payable \n \nExpired Grant Balances Payable \n \nCapital Lease Agreements \n \nTotal Liabilities \n \n$ \n \nFUND EQUITY \n \nFund Balances \n \nReserved \n \nFor Bus Replacement Funds \n \n$ \n \nFor Continuation of Federal Program \n \nFor Expired Grant Balances/Questioned \n \nCosts \n \nFor Inventories \n \nFood \n \nDonated Commodities \n \nPurchased Food \n \n$ Unreserved \nUndesignated \n \nTotal Fund Equity \n \n$ \n \n22,185,07 $ 450,00 \n480,000.00 12,540,24 \n \n$ 35,635,41 106,094,79 \n30,032.78 \n \n515,175,31 $ 171,762,98 $ \n \n287,15 \n$ 287,15 $ \n \n34,995,00 $ \n \n743,37 \n \n6,827.42 1,789.83 \n34,995.00 $ 9,360,62 467,987,76 207,862.45 $ 3,462,85 502,982,76 $ 217,223,07 $ 3,462,85 \n \nTotal Liabilities and Fund Equity $ 1,018,158.07 $ 388,986.05 $ 3.750.00 $ \n \n$ 590,807,97 \n \n287,15 $ 57,820.48 106,544,79 480,000.00 12,540.24 30,032,78 590,807,97 \n \n537,15 31,820,44 58,968.14 749,000.00 16,419,52 \n9,315.01 591,870.15 \n \n590,807.97 $ 1,278,033.41 $ 1,457,930.41 \n \n$ \n \n34,995.00 \n \n743.37 $ \n \n1,146,83 426.80 \n \n6,827.42 1,789,83 \n \n4,405,79 1,250,26 \n \n$ \n \n44,355,62 $ \n \n7,229.68 \n \n679,313,06 \n \n409,776.07 \n \n$ 723,668.68 $ 417,005.75 \n \n590,807.97 $ 2,001.702.09 $ 1,874,936.16 \n \nThe notes to the general purpose financial statements are an integral part of this statement. -2- \n \n LANIER COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \nALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30,1996 \n \nEXHIBIT\"B\" \n \nThe notes to the general purpose financial statements are an integral part of this statement. -3- \n \n THIS PAGE LEFT BLANK \n \n LANIER COUNTY BOARD OF EDUCATION \n \nSTATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES \n \n. \n \nBUDGET AND ACTUAL - (NON-GAAP BASIS) \n \nGENERAL AND SPECIAL REVENUE FUNDS \n \nYEAR ENDED JUNE 30.1996 \n \nEXHIBIT\"C\" \n \nREVENUES \nState Funds Federal Funds Taxes and Other Funds \nTotal Revenues \nEXPENDITURES \nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enterprise Operations Other Operations of Non-Instructional Services \nCapital Outlay Debt Service \nTotal Expenditures \nExcess of Revenues over (under) Expenditures \nOTHER FINANCING SOURCES (USES) \nOther Sources Other Uses \nTotal Other Financing Sources (Uses) \nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \nFUND BALANCE JULY 1, 1995 \nAdjustments \n \nGENERAL FUND \n \nACTUAL \n \n(BUDGET \n \nBUDGET \n \nBASIS) \n \n$ 4,526,802.17 $ \n87,567.00 1,028,055.46 \n \n4,638,108.38 1,548.77 \n1,097,113.85 \n \n$ 5,642,424.63 $ 5,736,771.00 \n \n$ 3,366,329.45 $ 3,359,295.43 \n \n237,236.86 341,435.55 156,161.56 143,983.58 411,263.78 121,469.76 319,494.14 219,682.83 \n4,900.00 64.00 \n10,000.00 17,583.37 40,084.22 \n \n190,264.97 302,083.55 160,768.46 326,279.72 418,480.91 106,162.65 344,447.69 180,863.43 \n6,722.06 66.22 \n11,283.94 23,569.02 47,029.27 41,688.30 98,086.38 \n \n$ 5,389,689.10 $ 5,617,092.00 \n \n$ 252,735.53 $ 119,679.00 \n \n$ 186,451.20 -34,712.72 \n$ 151,738.48 \n \n$ 252,735.53 $ 170,077.96 34,318.13 \n \n271,417.48 231,565.28 \n \nFUND BALANCE JUNE 30, 1996 \n \n$ 457,131.62 $ 502,982.76 \n \nSPECIAL REVENUE FUND \n \nACTUAL \n \n(BUDGET \n \nBUDGET \n \nBASIS) . \n \n$ 459,015.00 $ 471,455.00 \n \n816,538.36 \n \n862,136.13 \n \n131,713.46 \n \n147,790.46 \n \n$ 1,407,266.82 $ 1,481,381.59 \n \n$ 610,728.48 $ 605,555.24 \n \n58,853.47 52,383.41 \n9,603.00 74,871.62 \n \n71,410.62 79,617.51 \n9,603.00 52,682.36 \n \n27,316.49 18,183.29 \n83,074.94 443,855.94 \n2,500.00 \n \n23,295.27 13,036.36 \n67,184.45 541,918.60 \n \n$ 1,381,370.64 $ 1,464,303.41 \n \n$ \n \n25,896.18 $ \n \n17,078.18 \n \n$ \n \n15,206.07 \n \n$ \n \n15,206.07 \n \n$ \n \n25,896.18 $ \n \n32,284.25 \n \n265,394.16 \n \n176,321.57 \n \n-30,085.10 \n \n$ 261,205.24 $ 208,605.82 \n \nThe notes to the general purpose financial statements are an integral part of this statement. 5- \n \n LANIER COUNTY BOARD OF EDUCAnON \n \nEXHIBIT \"0\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1996 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nThe Lanier County Board of Education (Board) was established under the laws ofthe State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. With the exception ofthe departures from generally accepted accounting principles disclosed in these notes, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to governmental units and unless otherwise disclosed in these notes, the financial statements present all of the fund types and account groups of the Board. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards. \nThe more significant of the Board's accounting policies are described below. \nREPORTING ENTITY \nIn evaluating how to define the governmental unit for financial reporting purposes, management has \nconsidered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, \"Defining the Financial Reporting Entity\". The primary government consists of all the organizations that compose the legal entity of the Lanier County Board of Education. \nBased upon the application of the above criteria, the Lanier County Board of Education is determined to be the lowest level of government exercising oversight responsibility and control over all activities related to public education in Lanier County, Georgia. The Board is not included in any other governmental \"reporting entity\" as defined by GASB Codification of Governmental Accounting and Financial Reporting Standards. \nBoard members were elected by the public and have decision making authority, the power to designate management, the ability to significantly influence operations, and primary accountability for fiscal matters. The Board determines the millage rate at which school taxes are levied and may incur bonded indebtedness with voter approval. \nFUND ACCOUNTING \nThe Board uses funds and an account group to report on its fmancial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. \nA fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \nGeneral Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \n- 6- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1996 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these fmancial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \nThe general purpose financial statements account for all State, Federal, Taxes and Other funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \nGOVERNMENTAL FUND TYPES - are used to account for all or most ofa Board's educational activities. Governmental Fund Types include: \nGENERAL FUND - the fund used to account for all financial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. \nSPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. \nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. \nACCOUNT GROUP \nGENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for material capital lease obligations. \nBASIS OF ACCOUNTING \nThe accounting and fmancial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current fmancial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. \nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \n-7- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1996 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nGovernmental funds are accoun,ted for using the modified accrual basis of accounting under which: \nRevenues are recognized when susceptible to accrual (Le., when they become both measurable and available). \"Measurable\" means the amount ofthe transaction can be determined and \"available\" means collectible within the current period or soon enough thereafter to be used to pay liabilities ofthe current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Property taxes are considered available if they are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end. \nExpenditures are generally recognized when the related fund liability is incurred. \nA departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share of these contracts. During fiscal year 1996, a substantial number of personnel ofthe Board were employed for a one hundred and ninety day period beginning in late August 1995 and ending in early June 1996. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1995 and ending in August 1996. State grants to fund the State's share ofthese contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As of June 30, 1996, compensation under these employment contracts had been earned, but two ofthe twelve monthly payments, due for July and August 1996, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1996. Also, the State's portion of the compensation paid in July and August 1996 was received and recorded as revenue in the fiscal year subsequent to June 30, 1996. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1995, were recorded in the year ended June 30, 1996. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \nBUDGET \nThe Lanier County Board of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. \nThe budget process begins when the Board's administration prepares a tentative 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. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school \n-8- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nExmBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1996 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \n \nbudget. 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 ofEducation. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. \n \nThe Statement ofRevenues, Expenditures and Changes in Fund Balances - Budget and Actual presents actual and budgeted data for the General Fund and Special Revenue Fund. To facilitate comparison with the budget, the following adjustments have been made to actual revenues, expenditures and fund balance as reflected on Exhibit \"B\" of this report: \n \nFUND BALANCE JULY 1, 1995 \nAdjustments Inventories - July 1, 1995 Food Donated Commodities Purchased Foods \nFund Balance July 1, 1995 (Budget Basis) \nExcess of Revenues and Other Financing Sources over (under) Expendituresand Other Financing Uses \nFUND BALANCE JUNE 30,1996 (Budget Basis) \nCASH AND CASH EQUIVALENTS \n \nSpecial Revenue \nFund $ 181,977.62 \n-4,405.79 -1,250.26 $ 176,321.57 \n32,284.25 $ 208,605.82 \n \nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits (including certificates of deposit and N.O.W. accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement of proceeds from bond issues in certificates of deposit is limited to financial institutions located within this State. \n \nRECEIVABLES \n \nReceivables consist of grant reimbursements due from State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \n \n- 9- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1996 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \n \nPROPERTY TAXES \n \nThe Lanier County Board of Commissioners fixed the property tax levy for the 1995 tax year (calendar year) \non October 9, 1995 (levy date). Taxes were due on December 20, 1995. The lien date for property taxes was \nJanuary 1, 1995. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1996 since their collection meets the criteria of GASB codification section P70.1 03. The Lanier County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% oftaxes collected as a fee for tax collection and remits the balance of taxes collected to the Board. \n \nThe tax millage rate levied for the 1995 tax year (calendar year) for the Lanier County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): \n \nSchool Operations \n \n16.02 mills \n \nINVENTORIES \n \nFOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which indicates that these amounts do not constitute \"available spendable resources\" even though they are a component of net current assets. \n \nCAPITAL LEASES \n \nIt is the policy of the Board to record the balance due resulting from capital lease agreements in the General Long-Tenn Debt Account Group for the amount due at fiscal year end, including interest. This presentation differs from generally accepted accounting principles in that the future obligations relating to assets acquired through capital lease agreements should be recorded in the General Long-Tenn Debt Account Group at the net present value of the future minimum lease payments. \n \nINTERFUND TRANSACTIONS \n \nThe Board has the following types of interfund transactions: \n \nReimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. \n \n- 10- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1996 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nOperating transfers are recorded for all interfund transactions other than reimbursements. \nMEMORANDUM ONLY - TOTAL COLUMNS \nTotal columns on the general purpose financial statements are captioned \"Memorandum Only\" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. \nNote 2: DEPOSITS \nCOLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value ofsecurities shall be equal to not less than 110 percent of the public funds being secured after the deduction of the amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \nAcceptable security for deposits consists of anyone of or any combination of the following: \n(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \n(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, \n(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia, \n(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \n(6) Industrial revenue bonds and bonds of development authorities created by the laws ofthe State of Georgia, and \n \n- 11 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHffiIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1996 \n \nNote 2: DEPOSITS \n \n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federallntennediate Credit Bank, the Central Bank for Cooperatives, the Fann Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \n \nCATEGORIZATION OF DEPOSITS At June 30, 1996, the bank balances were $1,610,076.08. The amounts of the total bank balances are classified into three categories of credit risk: \n \nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \n \nThe Board's deposits are classified by risk category at June 30, 1996, as follows: \n \nRisk Category \n1 2 3 \nTotal \nNote 3: NON-MONETARY TRANSACTIONS \n \nBank Balance \n$ 200,000.00 976,770.00 433,306.08 \n$ 1.610,076.08 \n \nThe Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \n \nNote 4: RISK MANAGEMENT \n \nThe Board is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster and unemployment compensation. \n \n- 12- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1996 \n \nNote 4: RISK MANAGEMENT \n \nThe Board has obtained commercial insurance for risk of loss associated with torts, assets and job related illness or injuries to employees. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years. \n \nThe Board has elected to self-insure for all losses related to natural disaster. In addition, the Board has elected to self-insure for errors or omissions, which includes, among other risks, risks for sexual harassment and discrimination. The Board has not experienced any losses related to these risks in the past three years. \n \nThe Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the same fund that the employee's salary and benefits were paid. Claims are accounted for with expenditure and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. \n \nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \n \n1995 1996 \n \nBeginning of Year Liability \n \nClaims and Changes in Estimates \n \n$ \n \n0.00 $ \n \n0.00 $ \n \n$ \n \n0.00 $ \n \n6,507.00 $ \n \nClaims Paid \n \nEnd ofYear Liability \n \n0.00 $ 6,406.00 $ \n \n0.00 101.00 \n \nNote 5: GENERAL LONG-TERM DEBT \n \nCAPITAL LEASES The Lanier County Board of Education has entered into various lease agreements as lessee for copy machines and an energy management system. These lease agreements qualify as capital leases for accounting purposes and have been recorded at the total principal and interest payments as of the date of their inception. \n \nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1996, were as follows: \n \nBalance July 1, 1995 \nAdditions \nDeductions Payments Trade-Ins \nBalance June 30, 1996 \n \nCapital Leases $ 591,870.15 186,451.20 \n98,086.38 89,427.00 $ 590.807.97 \n \n- 13- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30,1996 \n \nNote 5: GENERAL LONG-TERM DEBT \n \nAt June 30, 1996, payments due, by fiscal year which includes principal and interest for these items are as follows: \n \nFiscal Year Ended June 30 \n1997 1998 1999 2000 2001 2002 and thereafter \nTotal Principal and Interest \n \nCapital Leases \n$ 95,762.52 94,664.97 94,299.12 94,299.12 78,761.52 133,020.72 \n$ 590,807.97 \n \nNote 6: ON-BEHALF PAYMENTS \n \nThe Board has recognized revenues and expenditures in the amount of$117,932.36 for health insurance and retirement contributions paid on the Board's behalf by the following State Agencies. \n \nGeorgia Department ofEducation Paid to the State Merit System of Personnel Administration For Health Insurance of Non-Certified Personnel In the amount of$95,666.10 \n \nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $7,020.26 \n \nOffice of Treasury and Fiscal Services Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost In the amount of $15,246.00 \n \nNote 7: CONTINGENT LIABILITIES \n \nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \n \n- 14- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1996 \n \nNote 8: RETIREMENT PLANS \nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS). \nTRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. A member is eligible for service retirement after 30 years of creditable service, regardless of age, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \nRetirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death. \nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest. \nThe Board's payroll for employees covered by TRS for the year ended June 30, 1996, was $3,716,480.98; total payroll was $4,167,418.49. \nTRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. For fiscal year 1996 that rate for employer contributions was 11.81 %. The interest rate assumption (rate of return on investments) was 7.50%. \nTotal contributions made during fiscal year 1996 amounted to $624,739.48, of which $438,915.51 was made by the Board and $185,823.97 was made by employees. These contributions represented 11.81 % (Board) and 5% (employees) of covered payroll. \n \n- 15 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1996 \n \nNote 8: RETIREMENT PLANS \n \nTRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No.5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure of the pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers. \n \nTotal unfunded pension benefit obligation of TRS as of June 30, 1995, was as follows: \n \nTotal pension benefit obligation \n \n$17,442,607,000.00 \n \nNet assets available for benefits, at cost \n \n15,857,066,000.00 \n \nUnfunded pension benefit obligation \n \n$ 1.585.541.000.00 \n \nThe measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1995. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers. \n \nTotal contributions from all employers to TRS for fiscal year ended June 30, 1996 were $607,275,000.00. The Board's contribution for the year ended June 30, 1996 of$438,915.51 was actuarially determined and represented .0723% of total contributions made by all participating employers. \n \nTen year historical trend information is presented in the 1996 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due. \n \nPUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS) \n \nPSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System of Georgia (PSERS). All employer's contributions are made by the State of Georgia in accordance with State statute. \n \n- 16 - \n \n LANIER COUNTY BOARD OF EDUCAnON \n \nEXI-llBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30,1996 \n \nNme8: RETffiEMENTPLANS \nPSERS provides, in accordance with State statute, service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years of service and attainment of age 65. A member applying for service retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number ofyears of creditable service. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \nRetirement provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent upon the number of years of service. If there are less than ten years of service, a lump sum refund ofthe employee's contributions and interest are made to the beneficiary. If there are more than ten years of service, the beneficiary shall receive for life half ofwhat the employee would have received upon retirement. \nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest. \nThere were 33 employees covered under PSERS for the year ended June 30, 1996. \nPSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1996 amounted to $1,144.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1996, was $9,817,769.80. \nNote 9: SURETY BONDS \nThe School Superintendent, Mr. Raymond Moore, is bonded in the amount of $25,000.00 with the Western Surety Company, Sioux Falls, South Dakota, their Bond No. 68177952, on which premium was paid through July 14, 1996. \n \n- 17 - \n \n LANIER COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 3D. 1996 \n \nASSETS \nCash and Cash Equivalents Accounts Receivable Inventories \nFood Donated Commodities Purchased Food \nTotal Assets \nLIABILITIES AND FUND EQUITY LIABILITIES \nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable \nTotal Liabilities FUND EQUITY \nFund Balances Reserved For Continuation of Federal Program For Inventories Food Donated Commodities Purchased Food \nUnreserved Undesignated Total Fund Equity \nTotal Liabilities and Fund Equity \n \nSCHOOL FOOD \nSERVICES FUND \n \nSTATE PRESCHOOL HANDICAPPED \nPROGRAM \n \nLOTIERY PROGRAMS \n \nELEMENTARY AND \n \nTITLE I \n \nGRANTS TO \n \nLOCAL \n \nEDUCATIONAL MIGRANT \n \nAGENCIES \n \nEDUCATION \n \n$ 191,988.14 $ \n \n0.00 $ 11,301.80 $ \n \n71,377.43 $ \n \n3,144.05 \n \n51,368.43 \n \n35,067.00 \n \n6,827.42 1,789.83 \n \n$ 251,973.82 $ \n \n0.00 $ 46,368.80 $ \n \n71,377.43 $ \n \n3,144.05 \n \n$ \n \n7,158.65 \n \n28,335.47 \n \n$ 35,494.12 \n \n$ 11,955.30 $ 34,413.50 \n$ 46,368.80 $ \n \n10,565.93 $ 34,914.96 25,896.54 \n71,377.43 $ \n \n598.56 1,802.12 \n2,400.68 \n \n$ \n \n6,827.42 \n \n1,789.83 \n \n$ \n \n8,617.25 \n \n207,862.45 $ \n \n$ 216,479.70 $ \n \n$ 251,973.82 $ \n \n$ \n \n743.37 \n \n0.00 $ 0.00 $ \n \n0.00 $ 0.00 $ \n \n$ 0.00 0.00 $ \n \n743.37 0.00 \n743.37 \n \n0.00 $ 46,368.80 $ \n \n71,377.43 $ \n \n3,144.05 \n \nSee notes to the general purpose financial statements. \n \n-18- \n \n EXHIBIT\"E\" \n \nSECONDARY EDUCATION ACT \n \nTITLE VI \n \nTITLE II \n \nINNOVATIVE \n \nEISENHOWER EDUCATION \n \nPROFESSIONAL PROGRAM \n \nDEVELOPMENT STRATEGIES \n \nINDIVIDUALS WITH DISABILITIES EDUCATION ACT \nPARTB SPECIAL EDUCATION FLOW THROUGH PRESCHOOL \n \nSAFE AND DRUG-FREE SCHOOLS \n \nVOCATIONAL EDUCATION \nFEDERAL \n \nTOTALS JUNE 30,1996 JUNE 30,1995 \n \n$ \n \n0.00 $ \n \n0.00 \n \n$ \n \n5,145.99 $ \n \n0.00 $ 9,376.54 $ 292,333.95 $ 202,097.62 \n \n$ 6,407.33 \n \n92,842.76 \n \n140,066.97 \n \n6,827.42 1,789.83 \n \n4,405.79 1,250.26 \n \n$ \n \n0.00 $ \n \n0.00 $ 6,407.33 $ \n \n5,145.99 $ \n \n0.00 $ 9,376.54 $ 393,793.96 $ 347,820.64 \n \n$ 4,807.91 748.58 $ 850.84 \n$ 6,407.33 $ \n \n215.75 794.00 4,136.24 \n5,145.99 \n \n$ \n \n4,807.91 $ \n \n$ 4,392.64 \n \n35,635.41 \n \n4,983.90 \n \n106,094.79 \n \n30,032.78 \n \n77,407.33 20,152.54 58,968.14 \n9,315.01 \n \n$ 9,376.54 $ 176,570.89 $ 165,843.02 \n \n$ \n \n743.37 $ \n \n1,146.83 \n \n6,827.42 1,789.83 \n \n4,405.79 1,250.26 \n \n$ \n \n9,360.62 $ \n \n6,802.88 \n \n$ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 \n \n207,862.45 \n \n175,174.74 \n \n$ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ 217,223.07 $ 181,977.62 \n \n$ \n \n0.00 $ \n \n0.00 $ 6,407.33 $ \n \n5,145.99 $ \n \n0.00 $ 9,376.54 $ 393,793.96 $ 347,820.64 \n \n-19- \n \n LANIER COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \nSPECIAL REVENUE FUND YEAR ENDED JUNE 30,1996 \n \nREVENUES \nState Funds Federal Funds Taxes and Other Funds \nTotal Revenues \nEXPENDITURES \nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services Food Services Operation \nTotal Expenditures \nExcess of Revenues over (under) Expenditures \nOTHER FINANCING SOURCES \nOperating Transfers In \nExcess of Revenues and Other Financing Sources over (under) Expenditures \nFUND BALANCE JULY 1 \nFood Inventory - Net Change in Period Donated Commodities Purchased Food \n \nSCHOOL FOOD \nSERVICES FUND \n \nSTATE PRESCHOOL HANDICAPPED \nPROGRAM \n \nLOTIERY PROGRAMS \n \nELEMENTARY AND \n \nTITLE I \n \nGRANTS TO \n \nLOCAL \n \nEDUCATIONAL MIGRANT \n \nAGENCIES \n \nEDUCATION \n \n$ 32,616.00 $ 397,781.40 142,100.06 \n$ 572,497.46 $ \n \n10,677.00 $ 428,162.00 $ \n10,677.00 $ 428,162.00 $ \n \n300,601.46 $ 5,690.40 \n306,291.86 $ \n \n13,427.25 13,427.25 \n \n$ \n$ 539,809.75 $ 539,809.75 $ $ 32,687.71 $ \n \n10,677.00 $ 334,748.94 $ \n51,390.07 3,757.58 \n7,246.62 22,832.89 11,911.36 \n1,369.94 2,108.85 \n10,677.00 $ 435,366.25 $ \n0.00 $ -7,204.25 $ \n \n192,000.89 $ 182.67 \n3,963.79 44,330.00 \n65,814.51 \n306,291.86 $ 0.00 $ \n \n12,683.88 \n12,683.88 743.37 \n \n$ 32,687.71 $ 180,830.79 \n2,421.63 539.57 \n \n7,204.25 \n \n0.00 $ 0.00 \n \n0.00 $ 0.00 \n \n0.00 $ 0.00 \n \n743.37 0.00 \n \nFUND BALANCE JUNE 30 \n \n$ 216,479.70 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n743.37 \n \nSee notes to the general purpose financial statements. \n \n- 20- \n \n EXHIBIT\"F\" \n \nSECONDARY EDUCATION ACT \n \nTITLE VI \n \nTITLE I! \n \nINNOVATIVE \n \nEISENHOWER \n \nEDUCATION \n \nPROFESSIONAL \n \nPROGRAM \n \nDEVELOPMENT STRATEGIES \n \nINDIVIDUALS WITH DISABILITIES EDUCATION ACT \nPARTB SPECIAL EDUCATION FLOW THROUGH PRESCHOOL \n \nSAFE AND DRUG-FREE SCHOOLS \n \nVOCATIONAL EDUCATION \nFEDERAL \n \nTOTALS YEAR ENDED JUNE 30,1996 JUNE 30,1995 \n \n$ \n \n8,035.00 $ \n \n$ _ _-\",,8,=03:.:;.5:.:;..00~$ \n \n9,603.00 $ 31,407.33 $ 9,603.00 $ 31,407.33 $ \n \n7,471.76 $ 7,471.76 $ \n \n6,242.00 $ 6,242.00 $ \n \n$ 87,566.93 \n \n471,455.00 $ 862,136.13 147,790.46 \n \n312,099.00 761,177.77 133,596.25 \n \n87,566.93 $ 1,481,381.59 $ 1,206,873.02 \n \n$ 11,661.11 $ \n \n6,561.81 $ 5,151.05 $ 32,070.56 $ 605,555.24 $ 513,225.51 \n \n1,536.37 \n \n$ \n \n9,181.83 \n \n15,530.15 \n \n$ \n \n9,603.00 \n \n1,092.32 \n \n462.38 \n \n1,125.00 \n \n909.95 \n \n391.52 686.01 \n13.42 \n \n17,000.04 46,498.15 \n \n71,410.62 79,617.51 \n9,603.00 52,682.36 23,295.27 13,036.36 67,184.45 541,918.60 \n \n54,313.22 37,203.23 10,767.19 66,990.31 \n6,617.51 3,041.23 55,262.70 510,033.83 \n \n$ \n \n9,181.83 $ \n \n9,603.00 $ 31,407.33 $ \n \n7,471.76 $ 6,242.00 $ 95,568.75 $ 1,464,303.41 $ 1,257,454.73 \n \n$ \n \n-1,146.83 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ -8,001.82 $ 17,078.18 $ -50,581.71 \n \n$ \n \n-1,146.83 $ \n \n1,146.83 \n \n0.00 $ 0.00 \n \n0.00 $ 0.00 \n \n0.00 $ 0.00 \n \n8,001.82 \n \n15,206.07 \n \n78,586.14 \n \n0.00 $ 0.00 \n \n0.00 $ 0.00 \n \n32,284.25 $ 181,977.62 \n \n28,004.43 158,055.25 \n \n2,421.63 539.57 \n \n-2,131.79 -1,950.27 \n \n$ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ 217,223.07 $ 181,977.62 \n \n- 21 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \nYEAR ENDED JUNE 30, 1996 \n \nSCHEDULE \"1\" \n \nFUNDING AGENCY PROGRAM/GRANT \nAgriculture, U. S. Department of Through Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1996 Grant National School Lunch Program 1996 Grant Food Distribution Program (1) \nTotal U. S. Department of Agriculture \nEducation, U. S. Department of Direct P, L. 81-874 1996 Grant Through Berrien County Board of Education d/b/a Southern Pine Migrant Education Act Agency Elementary and Secondary Education Act Title I Migrant Education 1995 Summer 1996 Grant Through Georgia Department of Education Elementary and Secondary Education Act Title I Grants to Local Educational Agencies 1996 Grant Title\" Eisenhower Professional Development 1995 Regular 1996 Grant Title VI Education Program Strategies 1996 Grant Individuals with Disabilities Education Act Part B - Special Education Flow Through 1996 Grant Preschool 1996 Grant Safe and Drug-Free Schools 1996 Grant Vocational Education - Basic Grants to States High School Program Basic Grant 1996 Grant Tech-Prep Education 1995 Grant 1996 Grant \nTotal U. S. Department of Education \n \nCFDA NUMBER \n \nFEDERAL REVENUE IN PERIOD \n \nEXPENDITURES IN PERIOD \n \n10,553 $ \n10.555 10.550 \n$ \n \n96,748.64 \n \n(2) \n \n261,928.86 $ 39,103.90 \n \n500,705.85 (3) 39,103.90 \n \n397,781.40 $_--=5:::;39~,8\",,0:.::9.:.:7..,::;..5 \n \n84.041 $ \n \n1,548.77 \n \n(4) \n \n84.011 84.011 \n \n418.09 $ 13,009,16 \n \n418.09 12,265.79 \n \n* 84.010 \n84.281 84.281 \n84.298 \n \n300,601.46 8,035,00 9,603.00 \n \n306,291.86 (3) \n1,146,83 8,035.00 \n9,603,00 \n \n84.027 84.173 84.186 \n \n31,407.33 7,471.76 6,242.00 \n \n31,407.33 7,471.76 6,242.00 \n \n84.048 \n84.243 84.243 \n$ \n \n27,567.00 \n-0,07 60,000.00 \n465,903,50 $ \n \n35,567.04 (3) \n60,001.71 (3) 478,450.41 \n \nTotal Federal Financial Assistance \n \n$ 863,684.90 $ \n \nThe Major Program is identified by an asterisk (*) in front of the CFDA number. \n \n(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. \n(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1996 National School Lunch Program. \n(3) Expenditures for this program include State and/or Other Funds, Expenditures are not maintained by fund source. \n(4) Expenditures on this program were not maintained by fund source. \n \nSee notes to the general purpose financial statements. \n \n1,018,260.16 \n \n- 22 - \n \n LANIER COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30. 1996 \n \nSCHEDULE \"2\" \n \nNONINTEREST BEARING ACCOUNTS \nFarmers and Merchants Bank, Lakeland, Georgia \nINTEREST BEARING ACCOUNTS \nFarmers and Merchants Bank, Lakeland, Georgia \nCertificates of Deposit No. 17296 (6.00%) No. 17484 (6.00%) \nN. O. W. Accounts (3.50%) \n \n$ \n \n3,462.85 \n \n$ 389,500.00 \n20,500.00 808,530.54 \n \n1,218,530.54 \n \n$ 1,221,993.39 \n \nSee notes to the general purpose financial statements. - 23 - \n \n LANIER COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30.1996 \n \nSCHEDULE \"3\" \n \nAdministrative Services, Georgia Department of Distant LearningfTelemedicine Grant \nBerrien County Board of Education Shared Service Contributions \nCommunity Affairs, Georgia Department of Local Assistance Grant \nEducation, Georgia Department of Food Services School Breakfast Program National School Lunch Program Federal Program Individuals with Disabilities Education Act Part B - Special Education Flow Through \nHuman Resources, Georgia Department of Contracted Services \nLanier County Tax Commissioner County Wide School Tax \nOffice of School Readiness Pre-Kindergarten Program \nVarious Sources Interest Earned \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nCAPITAL \n \nGENERAL REVENUE PROJECTS \n \nFUND \n \nFUND \n \nFUND \n \nTOTAL \n \n$ \n \n873.85 \n \n$ \n \n873.85 \n \n4,500.00 \n \n4,500.00 \n \n$ 3,750.00 \n \n3,750.00 \n \n$ 14,675.97 36,692.46 \n \n14,675.97 36,692.46 \n \n6,407.33 2,900.00 63,776.65 \n35,067.00 11,353.07 \n \n6,407.33 2,900.00 63,776.65 35,067.00 11,353.07 \n \n$ 83,403.57 $ 92,842.76 $ 3,750.00 $ 179,996.33 \n \nSee notes to the general purpose financial statements. \n \n- 24 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30,1996 \n \nSCHEDULE \"4\" \n \nAGENCYIFUNDING \nGRANTS Administrative Services, Georgia Department of Distant Leamingrrelemedicine Grant \nCommunity Affairs, Georgia Department of Local Assistance Grant \nEducation, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Sparsity Grant Middle School Incentive Program Special Instructional Assistance In-School Suspension Counselors Grades 4 and 5 Technology Training Mid-term Adjustment Migrant Mid-term Adjustment Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Apprenticeship Program At-Risk Summer School Program Health Insurance Innovative Programs Preschool Handicapped Program Remedial Summer School Program Teachers' Retirement Lottery Programs Pre-Kindergarten Program Technology Installation \nOffice of School Readiness Pre-Kindergarten Program \nOffice of Treasury and Fiscal Services Public School Employees Retirement System \nCONTRACT Education, Georgia Department of Student Information Systems Project \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nCAPITAL \n \nGENERAL \n \nREVENUE \n \nPROJECTS \n \nFUND \n \nFUND \n \nFUND \n \nTOTAL \n \n$ \n \n873,85 \n \n$ \n \n873.85 \n \n$ 15,000.00 \n \n15,000.00 \n \n2,279,094.00 247,065.00 118,519.00 98,188.00 32,359.00 685,193.00 \n \n138,214.00 34,995.00 93,802.00 90,375.00 194,805.00 69,748.00 7,195.00 25,765.00 143,165.00 8,130.00 \n-188,654.00 399,517,00 \n$ 18,362.00 \n \n32,616.00 \n \n5,000.00 8,862.40 95,666.10 5,000.00 \n4,102.77 7,020.26 \n \n10,677.00 \n \n194,000.00 28,040.00 \n \n206,122.00 \n \n15,246.00 \n \n2,279,094.00 247,065.00 118,519.00 98,188.00 32,359.00 685,193.00 \n138,214,00 34,995.00 93,802.00 90,375.00 \n194,805.00 69,748.00 7,195.00 25,765.00 \n143,165.00 8,130.00 \n-188,654,00 399,517.00 \n32,616.00 18,362.00 \n5,000.00 8,862.40 95,666.10 5,000.00 10,677.00 4,102.77 7,020.26 \n194,000.00 28,040,00 \n206,122.00 \n15,246.00 \n \n500.00 \n \n500.00 \n \nSee notes to the general purpose financial statements. \n \n$ 4,638,108,38 $ 471,455.00 $ 15,000.00 $ 5,124,563.38 - 25 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF TAXES AND OTHER REVENUE \nYEAR ENDED JUNE 30, 1996 \n \nSCHEDULE \"5\" \n \nTaxes County Wide School Tax Railroad Car Tax Real Estate Transfer Tax \nOther Sources Canning Operations Contracted Services Child Care Program South Georgia Regional Mental Health, Mental Retardation and Substance Abuse Program Donations Indirect Cost Special Revenue Fund Interest Earned Jury Duty Fees Rents Royalties Lease of School Radio Frequencies Sales Breakfast and Lunches School Assets Shared Service Contributions Berrien County Board of Education Other \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nGENERAL \n \nREVENUE \n \nFUND \n \nFUND \n \nTOTAL \n \n$ 993,446,72 1,540.88 2,571.88 \n \n$ 993,446,72 1,540.88 2,571.88 \n \n2,191.40 14,600.00 \n \n2,191.40 14,600.00 \n \n5,836,00 219.70 \n3,652.00 43,551.82 $ \n510.00 \n20,000.00 \n1,641.07 4,500.00 2,852.38 \n \n6,292.03 40.00 \n5,690.40 \n135,743.32 \n24.71 \n \n5,836.00 219.70 \n3,652.00 49,843,85 \n550,00 5,690.40 \n20,000.00 \n135,743.32 1,641.07 \n4,500.00 2,877.09 \n \n$ 1,097,113.85 $ 147,790.46 $ 1,244,904.31 \n \nSee notes to the general purpose financial statements. - 26 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \nGOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1996 \n \nSCHEDULE \"6\" \n \nGENERAL FUND \n \nSPECIAL REVENUE \nFUND \n \nCAPITAL PROJECTS \nFUND \n \nTOTAL \n \nEXPENDITURES \n \nOperating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Compensation of Board Members Water, Sewer and Cleaning Services Repair and Maintenance Services Rents Insurance Communications Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Interest Expense Federal Indirect Costs Other Expenditures \n \n$ 3,462,339.11 $ 1,075,095.56 15,835.31 71,589.08 2,950,00 13,076.40 57,499.14 1,519.47 22,412.00 32,183.01 \n12,562.58 5,690.40 \n193,139.85 124,918.45 \n71,077.17 13,651.76 36,531.57 \n5,168.56 \n \n705,079.38 188,329.36 \n12,505.39 10,593.23 \n3,645.00 10,088.19 \n555.00 5,840.47 2,607.99 \n2,279.64 129,763.75 \n10,898,52 278,483.33 \n7,163.15 6,129.65 \n3,652.00 4,370.64 \n \n$ 4,167,418.49 1,263,424.92 28,340.70 82,182.31 2,950.00 16,721.40 67,587.33 1,519.47 22,967.00 38,023.48 2,607,99 12,562.58 7,970.04 322,903.60 135,816.97 278,483.33 78,240.32 19,781.41 36,531.57 3,652.00 9,539.20 \n \nNonoperating Costs Principal and Interest Building and Building Improvements Equipment \n \n98,086.38 36,000.76 265,765.44 \n \n$ 82,318.72 \n \n24,506.65 10,000.00 \n \n98,086.38 60,507.41 358,084.16 \n \nTotal Expenditures \n \n$ 5,617,092.00 $ 1,464,303.41 $ 34,506.65 $ 7,115,902.06 \n \nSee notes to the general purpose financial statements. - 27 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \nLOTIERY PROGRAMS YEAR ENDED JUNE 30, 1996 \n \nSCHEDULE '7\" \n \nEXPENDITURES \nOperating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Water, Sewer and Cleaning Services Repairs and Maintenance Services Insurance Communications Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Other Expenditures \nNonoperating Costs Equipment \n \nINSTRUCTIONAL TECHNOLOGY \n \nPRE-KINDERGARTEN TECHNOLOGY \n \nPROGRAM \n \nINSTALLATION \n \n$ \n \n$ \n \n7,204.25 \n \n220,642.71 60,755.72 \n3,084.18 908.00 \n2,333.00 200.00 555.00 644.18 \n1,154.64 60,499.01 $ \n8,616.00 1,990.95 1,445.45 \n97.95 1,538.05 \n35,657.16 \n \n$ 10,451.52 17,588.48 \n \nTOTAL \n220,642.71 60,755.72 \n3,084,18 908.00 \n2,333.00 200.00 555.00 644.18 \n1,154.64 70,950.53 \n8,616.00 1,990.95 1,445.45 \n97.95 1,538.05 \n60,449.89 \n \nTotal Expenditures \n \n$ \n \n7,204.25 $ \n \n400,122.00 $ \n \n28,040.00 $ 435,366.25 \n \nSee notes to the general purpose financial statements. \n \n- 28 - \n \n LANIER COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1996 \n \nSCHEDULE \"8\" \n \nMinimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis \nSalaries Operations \nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \nExpenditures per Audit \nAmount of Underexpenditure for Total Allotment \n \nTHIRTEEN WEIGHTED AND MEDIA CENTER \nPROGRAMS \n \n100% TEST FOR OPERATIONS PORTION OF THIRTEEN WEIGHTED PROGRAMS \n \n$ \n \n2,853,203.00 $ _ _--.;;;.9=6,..;:;.;6=2;.;.;;.~0 \n \n$ 2,788,647.31 189,167.15 $ _ _.....:1:..::6.:..l7,.=...94.:..=6~.1.=..3 \n$ 2,977,814.46 \n \n-30,083.74 $ 2,947,730.72 \n \n$ \n \n0.00 $====\"\",0\"\",.0==0 \n \nSee notes to the general purpose financial statements. - 29 - \n \n LANIER COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30,1996 \n \nGENERAL AND CAREER EDUCATION PROGRAMS Kindergarten (*) Grades 1 - 3 (*) Sub-Total - K-3 Grades 4 - 5 (*) Grades 6 - 8 (*) Grades 9 - 12 r) High School Laboratories (*) Vocational Education Laboratories (*) Total General and Career Education Programs \nSPECIAL EDUCATiON PROGRAMS Regular Programs Category I (*) Category II (*) Category III (*) Sub-Total - Regular Category V (Gifted) (*) Total Special Education Programs \nREMEDIAL EDUCATION PROGRAM (*) Total Thirteen Weighted Programs \nMEDIA CENTER PROGRAMS Salaries Operations Total Media Center Programs \nTotal Thirteen Weighted and Media Center Programs \n \nALLOTMENTS FROM DEPARTMENT OF EDUCATION \n \nREQUIRED \n \nORIGINAL \n \n% \n \nORIGINAL \n \nMID-TERM \n \n$ \n \n225,438.00 \n \n$ \n \n202,894.20 \n \n599,654.00 \n \n539,688.60 $ \n \n$ \n \n825,092.00 90 $ \n \n742,582.80 $ \n \n298,656.00 90 \n \n268,790.40 \n \n535,064.00 90 \n \n481,557.60 \n \n234,011.00 90 \n \n210,609.90 \n \n208,236.00 90 \n \n187,412.40 \n \n178,035.00 90 \n \n160,231.50 \n \n$ 2,279,094.00 \n \n$ 2,051,184.60 $ \n \n33,045.00 33,045.00 32,184.00 \n1,400.00 \n20,000.00 20,000.00 106,629.00 \n \n$ \n \n193,386.00 \n \n$ \n \n174,047.40 $ \n \n0.00 \n \n$ \n \n193,386.00 90 $ \n \n174,047.40 $ \n \n53,679.00 90 \n \n48,311.10 \n \n$ \n \n247,065.00 \n \n$ \n \n222,358.50 $ \n \n$ \n \n118,519.00 90 $ \n \n106,667.10 $ \n \n$ 2,644,678.00 \n \n$ 2,380,210.20 $ \n \n0.00 \n0.00 0.00 106,629.00 \n \n$ \n \n77,301.00 90 $ \n \n69,570.90 $ \n \n20,887.00 90 \n \n18,798.30 \n \n$ \n \n98,188.00 \n \n$ \n \n88,369.20 $ \n \n2,620.00 1,088.00 \n3,708.00 \n \n$ 2,742,866.00 \n \n$ 2,468,579.40 $ \n \n110,337.00 \n \nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \nTotal Staff Development Programs (*) Identifies Thirteen Weighted Programs. See notes to the general purpose financial statements. \n \n$ \n \n12,875.90 \n \n19,483.10 \n \n$ \n \n12,875.90 $ \n \n19.483.10 \n \n475.00 0.00 \n \n$ \n \n32,359.00 100 $ \n \n32,359.00 $ ====47..5.=.0=,=0 \n \n- 30 - \n \n SCHEDULE \"9\" \n \nTOTAL REQUIRED \n \nACTUAL EXPENDITURES \n \nSALARIES \n \nOPERATIONS \n \nTOTAL \n \nAMOUNT OF UNDEREXPENDITURE \nFOR REQUIRED ALLOTMENT \n \n$ \n \n202,894.20 $ \n \n238,668.83 $ \n \n5,699.93 $ \n \n244,368.76 \n \n572,733.60 \n \n619,411.33 \n \n24,978.91 \n \n644,390.24 \n \n$ \n \n775,627.80 $ \n \n858,080.16 $ \n \n30,678.84 $ \n \n888,759.00 $ \n \n0.00 \n \n300,974.40 \n \n324,588.76 \n \n20,407.39 \n \n344,996.15 \n \n0.00 \n \n482,957.60 \n \n522,657.93 \n \n21,602.00 \n \n544,259.93 \n \n0.00 \n \n210,609.90 \n \n205,413.27 \n \n24,681.87 \n \n230,095.14 \n \n0.00 \n \n207,412.40 \n \n225,691.57 \n \n8,723.38 \n \n234,414.95 \n \n0.00 \n \n180,231.50 \n \n182,493.80 \n \n52,621.07 \n \n235,114.87 \n \n0.00 \n \n$ 2,157,813.60 $ 2,318,925.49 $ \n \n158,714.55 $ 2,477,640.04 \n \n$ \n \n174,047.40 \n \n$ \n \n5,368.78 62,662.58 $ 137,193.47 \n \n$ 890.40 3,154.30 \n \n5,368.78 63,552.98 140,347.77 \n \n$ \n \n174,047.40 $ \n \n205,224.83 $ \n \n4,044.70 $ \n \n209,269.53 \n \n0.00 \n \n48,311.10 \n \n47,693.43 \n \n1,436.88 \n \n49,130.31 \n \n0.00 \n \n$ \n \n222,358.50 $ \n \n252,918.26 $ \n \n5,481.58 $ \n \n258.399.84 \n \n$ \n \n106.667.10 $ \n \n106,044.84 $ \n \n3,750.00 $ \n \n109,794.84 \n \n0.00 \n \n$ 2,486,839.20 $ 2,677.888.59 $ \n \n167,946.13 $ 2,845,834.72 \n \n$ \n \n72,190.90 $ \n \n110,758.72 \n \n$ \n \n110,758.72 \n \n0.00 \n \n19,886.30 \n \n$ _ _-=2\",,1,,,,,22:;.;1,,,,.0=2 \n \n21,221.02 \n \n0.00 \n \n$ \n \n92,077.20 $ \n \n110,758.72 $ \n \n21,221.02 $ _ _1:.::3.:.,1'c::.97:.;:9;;.:.7..:.4 \n \n$ 2,578,916.40 $ 2.788.647.31 $ \n \n189,167.15 $ 2,977,814.46 $========0=.0=0 \n \n$ \n \n13,350.90 \n \n19,483.10 \n \n$ ==,;;;32;;,:,,8=3=4=.0=0 \n \n$ \n \n23.251.53 $ \n \n23,251.53 \n \n19,483.10 \n \n19,483.10 \n \n$ \n \n42.734.63 $ \n \n42,734.63 $ ========0,=00= \n \n- 31 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION OF BOARD MEMBERS \nYEAR ENDED JUNE 30,1996 \nBOARD MEMBER ADDRESS Mr. William L. Lee, Chairman (*) Route 1, Box 3A Lakeland, Georgia 31635 Mr. Jimmy Benefield (*) 125 Miller Street Lakeland, Georgia 31635 \nMr. Alan Chadwick (*) P. O. Box 183 Lakeland, Georgia 31635 Ms. Johnnie M. Moulton (*) 1062 Bostick Street Lakeland, Georgia 31635 Ms. Helen Strickland (*) Route 1, Box 146 Lakeland, Georgia 31635 \n(*) Denotes Board Members Serving as of June 30, 1996 \n \nSCHEDULE \"10\" \n \n$ \n \n600.00 \n \n600.00 \n \n600.00 \n \n600.00 \n \n550.00 \n \n$ ====2,=95=:0=.0:=0 \n \nSee notes to the general purpose financial statements. \n \n- 32 - \n \n SECTION II COMPLIANCE \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nAugust 14, 1997 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education \nand Superintendent and Members of the Lanier County Board of Education \nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nLadies and Gentlemen: \nWe have audited the general purpose financial statements ofthe Lanier County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated August 14, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \nWe conducted our audit in accordance with generally accepted auditing standards and 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 general purpose financial statements are free of material misstatement. \nCompliance with laws, regulations, contracts, and grants applicable to Lanier County Board of Education is the responsibility of the Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions of laws, regulations, contracts, and grants. However, the objective of our audit of the fmancial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion. \nThe results of our tests disclosed no instances of noncompliance that are required to be reported herein under Government Auditing Standards. \n \n96CRL-I0 \n \n This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \nRespectfully submitted, \n \nCLV:cm 96CRL-IO \n \nClaude L. Vickers State Auditor \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 \nAugust 14, 1997 \n \nHonorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board of Education \nand Superintendent and Members ofthe Lanier County Board of Education \n \nSINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS \n \nLadies and Gentlemen: \n \nWe have audited the general purpose financial statements ofthe Lanier County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated August 14, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \n \nWe have applied procedures to test the Board's compliance with the following requirements applicable to each of its Federal financial assistance programs, which are listed in the Schedule of Federal Financial Assistance, for the year ended June 30, 1996: \n \n(1) Political Activity \n \n(5) Allowable Costs/Cost Principles \n \n(2) Civil Rights \n \n(6) Drug-Free Workplace Act \n \n(3) Cash Management \n \n(7) Audit Follow-Up/Resolution \n \n(4) Federal Financial Reports \n \n(8) Administrative Requirements \n \nOur procedures were limited to the applicable procedures described in the Office of Management and Budget's \"Compliance Supplement for Single Audits of State and Local Governments\" and other additional procedures as deemed necessary. Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Board's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. \n \n96CRL-50 \n \n With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph ofthis report. With respect to items not tested, nothing came to our attention that caused us to believe that the Lanier County Board of Education had not complied, in all material respects, with those requirements. However, the results of our procedures disclosed an immaterial instance of noncompliance with those requirements, which is described in the Schedule of Findings and Improper or Questioned Costs. \nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \nRespectfully submitted, \n \nCLV:cm 96CRL-50 \n \nClaude L. Vickers State Auditor \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nAugust 14, 1997 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education \nand Superintendent and Members of the Lanier County Board of Education \n \nSINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS \n \nLadies and Gentlemen: \n \nWe have audited the general purpose financial statements ofthe Lanier County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated August 14, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \n \nWe have also audited the Board's compliance with the requirements governing: \n \n(1) Types of Services Allowed or Unallowed \n \n(5) Applicable Special Tests and Provisions \n \n(2) Eligibility \n(3) Matching, Level of Effort, and/or Earmarking \n \n(6) Other Requirement Claims for Advances and Reimbursements \n \n(4) Reporting \n \nThese requirements are applicable to the major Federal financial assistance program, which is identified in the Schedule of Federal Financial Assistance, for the year ended June 30, 1996. The management of the Lanier County Board of Education is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit. \n \n96CRL-80 \n \n We conducted our audit ofcompliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General ofthe United States; and Office of Management and Budget (OMB) Circular A-128, \"Audits of State and Local Governments\". Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Board's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion. \nIn our opinion, the Lanier County Board of Education complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal fmancial assistance program for the year ended June 30, 1996. \nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \nRespectfully submitted, \n \nCLV:cm 96CRL-80 \n \nClaude L. Vickers State Auditor \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 \nAugust 14, 1997 \n \nHonorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board of Education \nand Superintendent and Members ofthe Lanier County Board ofEducation \n \nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \n \nLadies and Gentlemen: \n \nWe have audited the general purpose fmancial statements of the Lanier County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated August 14, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \n \nIn connection with our audit ofthe fiscal year 1996 general purpose financial statements ofthe Lanier County Board of Education and with our consideration of the Board's control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (OMB) Circular A-128, \"Audits of State and Local Governments\", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1996. As required by OMB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements governing: \n \n(1) Types of Services Allowed or Unallowed \n \n(2) Eligibility \n \nOur procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Board's compliance with these requirements. Accordingly, we do not express such an opinion. \n \nWith respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Lanier County Board of Education had not complied, in all material respects, with those requirements. \n \n96CRL-120 \n \n This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \nRespectfully submitted, \n \nCLV:cm 96CRL-120 \n \nClaude L. Vickers State Auditor \n \n SECTION ill INTERNAL CONTROL \n \n L. CLAUDE VICKERS \nSTATE AUDITOR \n(404) 6562174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 \nAugust 14, 1997 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education \nand Superintendent and Members ofthe Lanier County Board of Education \nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nLadies and Gentlemen: \nWe have audited the general purpose fmancial statements of the Lanier County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated August 14, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \nWe conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standards, issued by the Comptroller General ofthe United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. \nThe management of the Lanier County Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation ofthe structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. \n \n96ICL-4 \n \n In planning and perfonning our audit ofthe general purpose financial statements ofthe Lanier County Board ofEducation for the year ended June 30, 1996, we obtained an understanding ofthe internal control structure. With respect to the internal control structure, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to detennine our auditing procedure for the purpose ofexpressing our opinion on the general purpose financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion. \nWe noted certain matters involving the internal control structure and its operation that we consider to be reportable conditions under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose fmancial statements. \nAs described in the Schedule ofFindings and Improper or Questioned Costs, reportable conditions were noted in the following control categories: \n(1) Accounting Controls (Overall) \n(2) Employee Compensation \n(3) General Fixed Assets \nA material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. \nOur consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are- also considered to be material weaknesses as defined above. However, as described in the Schedule of Findings and Improper or Questioned Costs, the following control categories include reportable conditions that are also considered to be material weaknesses: \n(1) Accounting Controls (Overall) \n(2) General Fixed Assets \nThese conditions were considered in determining the nature, timing, and extent of the procedures to be performed in our audit of the Lanier County Board of Education's general purpose financial statements and this report does not affect our report thereon dated August 14, 1997. \n96ICL-4 \n \n This report is intended for the infonnation of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \nRespectfully submitted, \n \nCLV:cm 96ICL-4 \n \nClaude L. Vickers State Auditor \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nAugust 14, 1997 \n \nHonorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board of Education \nand Superintendent and Members ofthe Lanier County Board of Education \nSINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \nLadies and Gentlemen: \nWe have audited the general purpose financial statements ofthe Lanier County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated August 14, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We have also audited the Lanier County Board of Education's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated August 14, 1997. \nWe conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and the provisions of Office of Management and Budget (OMB) Circular A-128, \"Audits of State and Local Governments\". Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the Lanier County Board of Education complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program. \nIn planning and performing our audit for the year ended June 30, 1996, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinions on the Board's general purpose financial statements and on its compliance with requirements applicable to major Federal financial assistance programs and to report on the internal control structure in accordance with OMB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated August 14, 1997. \n96ICL-11 \n \n The management of the Lanier County Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that, assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose fmancial statements in accordance with generally accepted accounting principles, and that Federal fmancial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness ofthe design and operation ofpolicies and procedures may deteriorate. \n \nFor the purpose of this report, we have classified the significant internal control structure policies and procedures used in administering Federal fmancial assistance programs in the following control categories: \n \nGENERAL REQUIREMENTS \n \nSPECIFIC REQUIREMENTS \n \n(1) Political Activity (2) Civil Rights (3) Cash Management (4) Federal Financial Reports \n \n(1) Types of Services Allowed or Unallowed \n(2) Eligibility \n(3) Matching, Level of Effort, and/or Earmarking \n \n(5) Allowable Costs/Cost Principles \n \n(4) Reporting \n \n(6) Drug-Free Workplace Act (7) Audit Follow-Up/Resolution (8) Administrative Requirements \n \n(5) Applicable Special Tests and Provisions \n(6) Other Requirement Claims for Advances and Reimbursements \n \nFor all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures and determined whether they have been placed in operation, and we assessed control risk. \n \nDuring the year ended June 30, 1996, the Lanier County Board of Education expended 65% of its total Federal fmancial assistance under a major Federal financial assistance program and the following nonmajor Federal financial assistance program: \n \nFood and Nutrition Program Food Services National School Lunch Program \n \n96ICL-ll \n \n We perfonned tests of controls, as required by OMB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements and specific requirements as described above that are applicable to the Board's major Federal fmancial assistance program, which is identified in the Schedule ofFederal Financial Assistance, and the aforementioned nonmajor program. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. \nWe noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the Board's ability to administer Federal fmancial assistance programs in accordance with applicable laws and regulations. \nAs described in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category: \nAdministrative Requirements \nA material weakness is a reportable condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the nonnal course of perfonning their assigned functions. \nOur consideration of the internal control structure policies and procedures used in administering Federal fmancial assistance would not necessarily disclose all matters in the internal control structure that might be reportable conditions, and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition described above is also considered to be a material weakness. \nThis condition was considered in detennining the nature, timing, and extent ofthe procedures to be perfonned in our audit of the Lanier County Board of Education's compliance with requirements applicable to its major Federal financial assistance program for the year ended June 30, 1996, and this report does not affect our report thereon dated August 14, 1997. \nThis report is intended for the infonnation of management, the Federal cognizant audit agency and other Federal grantor agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which is a matter of public record. \nRespectfully submitted, \n \nCLV:cm 96ICL-ll \n \nClaude L. Vickers State Auditor \n \n SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS \n \n LANffiRCOUNTYBOARDOFEDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR OUESTIONED COSTS \nYEAR ENDED JUNE 30, 1996 \nPRIOR YEAR \nAUDIT FOLLOW -UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Finding Resolved Audit Control Number 6861-93-05 \nThe audit report for the year ended June 30, 1995, stated that the Board had an underexpenditure of Quality Basic Education (QBE) funds of $426.80 for the Staff Development - Professional Development Stipends Program. For the year under review, an adjustment was made to the Board's local fair share by the Georgia Department of Education to refund the underexpenditure as required. \nAUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Finding Resolved Audit Control Number 6861-95-01 \nThe audit report for the year ended June 30, 1995, stated that the Board failed to submit a copy of the 1994 audit report to the Coastal Plains Economic Opportunity Authority, Incorporated from whom the Board received Child and Adult Food Care Program (CFDA 10.558) funds. During the year under review, the Board submitted copies of the 1994 and 1995 fiscal year audit reports to the Coastal Plains Economic Opportunity Authority, Incorporated as required. \nPRIOR YEARJCURRENT YEAR \nACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation of Duties Reportable Condition - Material Weakness Audit Control Number 6861-93-01 \nThe audit report for the year ended June 30, 1995, stated that the Board did not provide for adequate separation of employee duties in the performance of accounting functions and related procedures. In the year under review, no improvement in adequate separation of employee duties was noted. This condition was a result of management's decision to limit the number of administrative staff made responsible for accounting functions. Management should periodically review this decision to determine if employee duties can be reassigned to achieve a higher degree of internal control with existing staff. \nNote: All Federal financial assistance programs listed in the Schedule of Federal Financial Assistance Schedule \"1\" of this report are affected by this fmding. \n- 1- \n \n LANrnRCOUNTYBOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \nYEAR ENDED JUNE 30. 1996 \nPRIQR YEAR/CURRENT YEAR \nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6861-93-03 \nThe audit report for the year ended June 30, 1995, noted that the management ofthe Lanier County Board of Education had chosen not to maintain a system-wide General Fixed Assets Account Group within the.formal \naccounting records as required by generally accepted accounting principles. In the year under review, the \nBoard did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance ofa General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. \nGENERAL LEDGER Outstanding Loan Financial Statements Nonmaterial Noncompliance Audit Control Number 6861-95-02 \nThe audit report for the year ended June 30, 1995, noted that the General Fund had an unpaid loan outstanding at December 31, 1994. On December 31, 1995, the General Fund again had an unpaid loan outstanding in the amount of$120,000.00. Article IX, Section V, Paragraph V of the Constitution of the State of Georgia provides, in part, as follows: \n\"The governing authority of any county, municipality or other political subdivision of this state may incur debt by obtaining temporary loans in each year to pay expenses... Such loans shall be payable on or before December 31 of the calendar year in which such loan is made...\". \nThis condition occurred because the Board disregarded the limitation imposed by Georgia Laws. Repayment should be made in conformity with constitutional limitations. \n- 2- \n \n LANIERCOUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR OUESTIONED COSTS \nYEAR ENDED JUNE 30, 1996 \nCURRENT YEAR \nEMPLOYEE COMPENSATION Salary Underpayments Financial Statements Reportable Condition Amount: $564.86 Audit Control Number 6861-96-01 \nFor the year under review, a sample of nineteen employees was selected to test employee compensation. The results of this testing revealed two instances where employees were underpaid in the amount of $564.86. These underpayments were a result of a salary miscalculation by payroll personnel and a failure to pay an employee for work performed. \nAppropriate action should be taken by the Board to ensure that all personnel are paid in 'accordance with employment contracts and approved rates for workperformed. Payment of $564.86 should be made to the employees involved from the Board's School Food Service Fund. \nCASH MANAGEMENT Excessive Cash Balances Federal Financial Assistance Nonmaterial Noncompliance Audit Control Number 6861-96-02 \nA review of cash management procedures for the Elementary and Secondary Education Act - Title I - Grants to Local Educational Agencies program (CFDA 84.010) disclosed that cash draws utilizing DE Form 0147, \"Quarterly Report of Expenditures and Estimated Requirements for Grant Funds\", were made in advance of immediate cash needs, resulting in the accumulation of excessive cash balances. During fiscal year 1996, the program had an average cash balance of $1,904.32 with excessive ending monthly cash balances in four months. The excessive cash balances are a result of management's failure to adequately forecast the cash needs of the program. Procedures should be implemented to minimize the time elapsing between the transfer of funds from the Georgia Department of Education and disbursement of such funds by the Board. \nNote: The Lanier County Board of Education was provided an opportunity to include pertinent comments from the Board's management concerning these audit [mdings, conclusions and recommendations. The Board has elected not to provide comments for inclusion in this report. \n-3- \n \n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1994-h95","title":"Audit report, Lanier County Board of Education, Lakeland, Georgia, year ended June 30, 1995","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Lanier County, 31.03789, -83.06265"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1995-06-30"],"dcterms_description":["Began with: Fiscal year 2021.","Report year covers fiscal year.","May have supplement: Salaries and travel reimbursement (Lanier County Board of Education, Ga.)"],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Dept. of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Auditors' reports--Georgia","Financial statements--Georgia","Lanier County (Ga.). Board of Education--Appropriations and expenditures"],"dcterms_title":["Audit report, Lanier County Board of Education, Lakeland, Georgia, year ended June 30, 1995"],"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-bl28-b1994-h95"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1994-h95"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"GA A\u003cgoo ,RI 6.2.b 1...28 I qq4 - \u003e:C,5 \nSTATE OF GEORGIA DEPARTMENT OF AUDITS \n254 WASHINGTON STREET ATLANTA. GEORGIA 30334 \n \n AUDIT REPORT LANIER COUNTY BOARD OF EDUCATION \nLAKELAND, GEORGIA YEAR ENDED JUNE 30, 1995 \n \n LANIER COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \n \nSECTION I \n \nFINANCIAL \n \nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \n \nEXHIBITS \n \nGENERAL PURPOSE FINANCIAL STATEMENTS \n \nCOMBINED STATEMENTS-OVERVIEW \n \nA \n \nCOMBINED BALANCE SHEET \n \nALLFUNDTYPESANDACCOUNTGROUP \n \n2 \n \nB \n \nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \n \nCHANGES IN FUND BALANCES \n \nALL GOVERNMENTAL FUND TYPES \n \n4 \n \nC \n \nSTATEMENT OF REVENUES, EXPENDITURES AND \n \nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \n \n(NON-GAAP BASIS) \n \nGENERAL AND SPECIAL REVENUE FUNDS \n \n5 \n \nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \n6 \n \nADDITIONAL FINANCIAL INFORMATION \n \nCOMBINING STATEMENTS \n \nSPECIAL REVENUE FUND \n \nE \n \nCOMBINING BALANCE SHEET \n \n18 \n \nF \n \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \n \nAND CHANGES IN FUND BALANCES \n \n20 \n \nSCHEDULES \n \n1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \n \n22 \n \n2 CASH AND CASH EQUIVALENTS \n \n24 \n \n3 ACCOUNTS RECEIVABLE \n \n25 \n \n. SCHEDULEOFREVENUE \n \n4 \n \nSTATE \n \n26 \n \n5 \n \nLOCAL AND OTHER \n \n27 \n \nSCHEDULE OF EXPENDITURES BY OBJECT \n \n6 \n \nGOVERNMENTAL FUND TYPES \n \n28 \n \n7 \n \nLOTTERY PROGRAMS \n \n29 \n \n LANIER COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \n \nSECTION I \n \nFINANCIAL \n \nADDITIONAL FINANCIAL INFORMATION \n \nSCHEDULES \n \nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \n \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \n \n8 \n \nOVERALL \n \n31 \n \n9 \n \nBY PROGRAM \n \n32 \n \nIO SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \n \n34 \n \nSECTION II \nCOMPLIANCE \nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nSINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS \nSINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS \nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \n \nSECTION III \nINTERNAL CONTROL \nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nSINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \n \n LANIER COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \nSECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \n \n SECTION I FINANCIAL \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMarch 8, 1996 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \nand Superintendent and Members of the Lanier County Board ofEducation \nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \nLadies and Gentlemen: \nWe have audited the general purpose financial statements (Exhibits A through D) of the Lanier County Board of Education, as of and for the year ended June 30, 1995, as listed in the table of contents. These financial statements are the responsibility of the Board's management. Our responsibility is to express an opinion on these financial statements based on our audit. \nWe conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \nAs described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \n* The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. \n95ARL-13* \n \n * School activity accounts maintained at the individual schools are not included in the general purpose \nfinancial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. \n* The Board did not recognize as expenditures, in the year ended June 30, 1995, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1995. Also funds received, subsequent to June 30, 1995, from the Georgia Department ofEducation for the State's share of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1994, were improperly recorded in the year ended June 30, 1995. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \nThe aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material. \nIn our opinion, except for the effects on the general purpose financial statements ofthe matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Lanier County Board of Education as of June 30, 1995, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. In accordance with Government Auditing Standards, we have also issued a report dated March 8, 1996, on our consideration of the Board's internal control structure and a report dated March 8, 1996, on its compliance with laws and regulations. \nOur audit was conducted for the purpose of forming an opinion on the general purpose financial statements ofthe Lanier County Board ofEducation taken as a whole. The combining statements (Exhibits E and F) and the financial schedules (Schedules 1 through 1Owhich includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the Lanier County Board of Education. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. \nA copy ofthis report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \nRespectfully submitted, \ntr~~ \nClaude L. Vickers State Auditor \nCLV:dt 95ARL-13* \n \n LANIER COUNTY BOARD OF EDUCATION - 1- \n \n LANIER COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET \nALL FUND TYPES AND ACCOUNT GROUP JUNE 30. 1995 \n \nASSETS Cash and Cash Equivalents Accounts Receivable Prepaid Items Inventories \nFood Donated Commodities Purchased Food \nAmount to be Provided in Future Years For Payment of Capital Lease Agreements \nTotal Assets \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nCAPITAL \n \nGENERAL \n \nREVENUE \n \nPROJECTS \n \nFUND \n \nFUND \n \nFUND \n \n$ 915,958.13 $ 124,690.29 \n \n87,943.83 \n \n140,066.97 $ \n \n4,000.00 \n \n4,750.74 \n \n4,405.79 1,250.26 \n \n$ 1,008,652.70 $ 210,413_31 s _ _ _4._ooo_.oo_ \n \nLIABILITIES AND FUND EQUITY \nLIABILITIES \nCash Overdraft Accounts Payable Salaries Payable Notes Payable Interest Payable Expired Grant Balances Payable Contracts Payable Deferred Revenue Capital Lease Agreements \nTotal Liabilities \nFUND EQUITY \nFund Balances Reserved For Continuation of Federal Program For Expired Grant Balances/Questioned Costs For Inventories \nFood \nDonated Commodities Purchased Food \nUnreserved Undesignated \nTotal Fund Equity \nTotal Liabilities and Fund Equity \n \n$ \n \n11,667.90 $ \n \n749.000.00 16.419.52 \n \n$ 20,152.54 58,968.14 \n9,315.01 \n \n537.15 \n \n$ 777,087.42 $ \n \n88,435.69 $ _ _ _53_7_.1_5 \n \n$ \n \n1,146.83 \n \n$ \n \n426.80 \n \n4,405.79 1,250.26 \n \n$ \n \n426.80 $ \n \n6,802.88 \n \n231,138.48 \n \n175174.74 $ \n \n$ 231,565.28 $ 181,977.62 $ \n \n$ 1,008,652.70 $ 270,413.31 $ \n \n3,462.85 3,462.85 \n4,000.00 \n \nThe notes to the general purpose financial statements are an integral part of this statement. -2- \n \n EXHIBIT\"A\" \n \nACCOUNT GROUP GENERAL \nLONG-TERM DEBT \n \nTOTALS \n{Memorandum On~l JUNE 301 1995 JUNE 301 1994 \n \n$ 1,040,648.42 $ 1,264,654.n \n \n232,010.80 \n \n280,202.56 \n \n4,750.74 \n \n4,405.79 1,250.26 \n \n6,537.58 3,200.53 \n \n$ \n \n591 870.15 \n \n591,870.15 \n \n689,950.98 \n \n$ \n \n591 870.15 $ 1,8741936.16 $ 2?441546.42 \n \n$ \n \n537.15 \n \n31,820.44 $ 168,867.30 \n \n58,968.14 \n \n67,709.50 \n \n749,000.00 \n \n635,000.00 \n \n16,419.52 \n \n9,315.01 \n \n1,347.15 \n \n81,458.87 \n \n856.00 \n \n$ \n \n591,870.15 \n \n591,870.15 \n \n689,950.98 \n \n$ \n \n. 591,870.15 $ 1,457,930.41 $ 1,645,189.80 \n \n$ \n \n1,146.83 $ \n \n1,834.99 \n \n426.80 \n \n426.80 \n \n4,405.79 1,250.26 \n \n6,537.58 3,200.53 \n \n$ \n \n7,229.68 $ \n \n11,999.90 \n \n4091TT6.07 \n \n587,356.72 \n \n$ 417,005.75 $ 599,356.62 \n \n$ \n \n591 870.15 $ 118741936.16 $ 2,2441546.42 \n \n-3 - \n \n LANIER COUNTY BOARD OF EDUCATION \nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30. 1995 \n \nEXHIBIT\"B\" \n \nREVENUES \nState Funds Federal Funds Local and Other Funds \nTotal Revenues \nEXPENDITURES \nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enterprise Operations Other Operations of Non-Instructional Services \nCapital Outlay Debt Service \nPrincipal and Interest \nTotal Expenditures \nExcess of R~venues over (under) Expenditures \nOTHER FINANCING SOURCES (USES} \nCapital Leases Operating Transfers In Operating Transfers Out \nTotal Other Financing Sources (Uses) \nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \nFUND BALANCE JULY 1 \nFood Inventory - Net Change in Period Donated Commodities Purchased Food \nResidual Equity Transfer \n \nGENERAL FUND \n \nSPECIAL REVENUE \nFUND \n \nCAPITAL PROJECTS \nFUND \n \nTOTALS \n~morandum On!)1 \nYEAR ENDED JUNE 30, 1995 JUNE 30, 1994 \n \n$ 4.079.427.45 $ 61,650.98 \n950,424.78 \n \n312,099.00 $ 761,177.77 133,596.25 \n \n$ 5,091,503.21 $ 1,206,873.02 $ \n \n40.000.00 $ \n \n4,431,526.45 $ 822,828.75 \n1,084,021.03 \n \n5,336,172.32 762,145.09 \n1,084,014.38 \n \n40,000.00 $ 6,338,376.23 $ 7,182,331.79 \n \n$ 3,186,217.50 $ 513,225.51 \n \n151,824.32 268,571.47 144,482.61 139,057.56 425,387.14 116,982.88 390,569.70 236,326.38 \n16,429.76 552.75 \n9,847.02 20,543.15 41,951.13 \n \n54,313.22 37,203.23 10,767.19 66,990.31 \n6,617.51 3,041.23 \n55,262.70 510,033.83 \n$ \n \n102,471.03 \n \n$ 5,251,214.40 $ 1,257,454.73 $ \n \n$ -159,711.19 $ \n \n-50,581.71 $ \n \n$ 3,699,443.01 $ 3,420,952.97 \n \n12,366.11 \n \n206,137.54 305,774.70 155,249.80 206,047.87 425,387.14 116,982.88 397,187.21 239,367.61 \n16,429.76 55,815.45 519,880.85 20,543.15 41,951.13 12,366.11 \n \n147,321.65 219,637.40 171,713.64 171,075.53 376,984.68 119,712.43 906,632.16 224,604.30 \n8,399.84 60,564.75 501,193.11 23,767.18 39,324.57 1,548,795.51 \n \n102,471.03 \n \n38,005.92 \n \n12,366.11 $ 6,521,035.24 $ 7,978,685.64 \n \n27,633.89 $ -182,659.01 $ -796,353.85 \n \n$ \n \n4,390.20 \n \n28,592.89 $ \n \n-79 545.14 \n \n$ \n \n-46,562.05 $ \n \n78,586.14 $ \n78,586.14 $ \n \n$ -27,633.89 -27,633.89 $ \n \n4,390.20 $ 107,179.03 -107,179.03 \n4,390.20 $ \n \n417,828.51 350,465.90 -350,465.90 \n417,828.51 \n \n$ -206,273.24 $ 441,301.37 \n \n28,004.43 $ 158,055.25 \n \n0.00 $ 0.00 \n \n-178,268.81 $ 599,356.62 \n \n-378,525.34 978,208.76 \n \n-3,462.85 \n \n-2,131.79 -1,950.27 \n \n3,462.85 \n \n-2,131.79 -1,950.27 \n0.00 \n \n-887.61 560.81 \n \nFUND BALANCE JUNE 30 \n \n$ 231,565.28 $ 181,977.62 $ \n \n3,462.85 $ 417,005.75 $ 599,356.62 \n \nThe notes to the general purpose financial statements are an integral part of this statement. -4- \n \n LANIER COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \nBUDGET AND ACTUAL - (NON-GAAP BASIS} GENERAL AND SPECIAL REVENUE FUNDS \nYEAR ENDED JUNE 30, 1995 \n \nEXHIBIT\"C\" \n \nREVENUES \nState Funds Federal Funds Local and Other Funds \nTotal Revenues \nEXPENDITURES \nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enterprise Operations Other Operations of Non-Instructional Services \nDebt Service \nTotal Expenditures \nExcess of Revenues over (under) Expenditures \nOTHER FINANCING SOURCES (USES) \nOther Sources Other Uses \nTotal Other Financing Sources (Uses) \nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \nFUND BALANCE JULY 1, 1994 \nADJUSTMENTS \nResidual Equity Transfer \n \nGENERAL FUND \n \nACTUAL \n \n(BUDGET \n \nBUDGET \n \nBASIS) \n \n$ 4,048,029.00 $ 4,079,427.45 \n \n19,m.oo \n \n61,650.98 \n \n893,055.46 \n \n950,424.78 \n \n$ 4,960,856.46 $ 5,091,503.21 \n \n$ 3,335,554.97 $ 3,186,217.50 \n \n160,273.76 269,457.20 150,236.73 128,958.06 376,530.80 123,394.95 403,351.37 238,674.33 17,312.55 \n575.00 10,000.00 16,336.91 31,788.79 \n \n151,824.32 268,571.47 144,482.61 139,057.56 425,387.14 116,982.88 390,569.70 236,326.38 \n16,429.76 552.75 \n9,847.02 20,543.15 41,951.13 102,471.03 \n \n$ 5,262,445.42 $ 5,251,214.40 \n \n$ -301 ,588.96 $ -159,711.19 \n \n$ 32,983.09 -79,545.14 \n$ -46,562.05 \n \n$ -301,588.96 $ 417,093.89 \n \n-206,273.24 441,301.37 \n \n17.49 \n \n-3,462.85 \n \nFUND BALANCE JUNE 30, 1995 \n \n$ 115,522.42 $ 231,565.28 \n \nSPECIAL REVENUE FUND \n \nACTUAL \n \n(BUDGET \n \nBUDGET \n \nBASIS) \n \n$ 322,824.00 $ 312,099.00 \n \n698,013.50 \n \n1s1.1n.n \n \n123,329.33 \n \n133,596.25 \n \n$ 1,144,166.83 $ 1,206,873.02 \n \n$ 409,658.22 $ 513,225.51 \n \n56,070.53 44,979.66 \n9,676.00 60,624.00 \n \n54,313.22 37,203.23 10,767.19 66,990.31 \n \n2,400.00 3,653.27 \n62,274.00 444,970.74 \n2,500.00 \n \n6,617.51 3,041.23 \n55,262.70 510,033.83 \n \n$ 1,096,806.42 $ 1,257,454.73 $ 47,360.41 $ -50,581.71 \n \n$ 78,586.14 \n \n$ 78,586.14 \n \n$ 47,360.41 $ 28,004.43 \n \n187,988.52 \n \n148,317.14 \n \n-3,832.91 \n \n$ 231,516.02 $ 176,321.57 \n \nThe notes to the general purpose financial statements are an integral part of this statement. - 5- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1995 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nThe Lanier County Board ofEducation (Board) 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. With the exception ofthe departures from generally accepted accounting principles disclosed in these notes, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards. \nThe more significant of the Board's accounting policies are described below. \nREPORTING ENTITY \nIn evaluating how to define the government unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, \"Defining the Financial Reporting Entity\". The primary government consists of all the organizations that compose the legal entity of the Lanier County Board of Education. \nBased upon the application of the above criteria, the Lanier County Board ofEducation is determined to be the lowest level of government exercising oversight responsibility and control over all activities related to public education in Lanier County, Georgia. The Board is not included in any other governmental \"reporting entity\" as defined by-GASB Codification of Governmental Accounting and Financial Reporting Standards. \nBoard members were elected by the public and have decision making authority, the power to designate management, the ability to significantly influence operations, and primary accountability for fiscal matters. The Board determines the millage rate at which school taxes are levied and may incur bonded indebtedness with voter approval. \nFUND ACCOUNTING \nThe Board uses funds and an account group to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. \nA fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \nGeneral Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \n- 6- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXIIlBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1995 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \nThe general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \nGOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's general activities. Governmental Fund Types include: \nGENERAL FUND - the fund used to account for all financial resources of the Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. \nSPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund; however, the Board chooses not to provide for depreciation, but to maintain the fund on a modified accrual basis and to report the fund as a special revenue fund under governmental fund types, which is acceptable under generally accepted accounting principles for governmental entities. \nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. \nACCOUNT GROUP \nGENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for material capital lease obligations. \nBASIS OF ACCOUNTING \nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. \n- 7- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1995 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \nGovernmental funds are accounted for using the modified accrual basis of accounting under which: \nRevenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). \"Measurable\" means the amount ofthe transaction can be determined and \"available\" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Property taxes are considered available if they are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end. \nExpenditures are generally recognized when the related fund liability is incurred. \nA departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share ofthese contracts. During fiscal year 1995, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1994 and ending in early June 1995. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1994 and ending in August 1995. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As ofJune 30, 1995, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1995, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1995. Also, the State's portion of the compensation paid in July and August 1995 was received and recorded as revenue in the fiscal year subsequent to June 30, 1995. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1994, were recorded in the year ended June 30, 1995. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \nBUDGET \nThe Lanier County Board ofEducation's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. \nThe budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a \n- 8- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1995 \n \nNote I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \n \nnewspaper ofgeneral circulation in the locality. At 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. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year end. \n \nThe Statement ofRevenues, Expenditures and Changes in Fund Balances - Budget and Actual presents actual and budgeted data for the General Fund and Special Revenue Fund. To facilitate comparison with the budget, the following adjustments have been made to actual revenues, expenditures and fund balance as reflected on Exhibit \"B\" of this report: \n \nExcess of Revenues and Other Sources of Financial Resources over (under) Expenditures - and Other Financing Uses \nFund Balance July 1, 1994 \nAdjustments: Inventories July 1, 1994 Food Donated Commodities Purchased Foods \nFund Balance June 30, 1995 (Budget Basis) \n \nSpecial Revenue \nFund \n$ 28,004.43 158,055.25 \n-6,537.58 -3,200.53 $ 176,321.57 \n \nCASH AND CASH EQUIVALENTS \n \nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits (including certificates of deposit and N.O.W. accounts) in authorized :financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement ofproceeds from bond issues in certificates ofdeposit is limited to financial institutions located within this State. \n \nRECEIVABLES \n \nReceivables consist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when \n \n- 9- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1995 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \n \neither the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \n \nPROPERTY TAXES \n \nThe Lanier County Board of Commissioners fixed the property tax levy for the 1994 tax year (calendar year) on September 12, 1994 (levy date). Taxes were due on December 20, 1994. The lien date for property taxes was January 1, 1994. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1995 since their collection meets the criteria of GASB codification section P70.103. The Lanier County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection, and remits the balance of taxes collected to the Board. \n \nThe tax millage rate levied for the 1994 tax year (calendar year) for the Lanier County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): \n \nSchool Operations \n \n14.93 mills \n \nINVENTORIES \n \nFOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost. Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which indicates that these amounts do not constitute \"available spendable resources\" even though they are a component of net current assets. \n \nPREPAID ITEMS \n \nPayments made to vendors for services that will benefit periods subsequent to June 30, 1995, are recorded as prepaid items. \n \nCAPITAL LEASES \n \nIt is the policy of the Board to record the balance due resulting from capital lease agreements in the General Long-Term Debt Account Group for the amount due at fiscal year end, including interest. This presentation differs from generally accepted accounting principles in that the future obligations relating to assets acquired \n \n- 10 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXIIlBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1995 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nthrough capital lease agreements should be recorded in the General Long-Term Debt Account Group at the net present value of the future minimum lease payments. The effect of this deviation is deemed to be immaterial to the fair presentation of the general purpose financial statements. \nINTERFUND TRANSACTIONS \nThe Board has the following types of interfund transactions: \nReimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. \nResidual equity transfers are recorded for nonrecurring or nonroutine permanent transfers of equity. \nOperating transfers are recorded for all interfund transactions other than residual equity transfers and reimbursements. \nMEMORANDUM ONLY - TOTAL COLUMNS \nTotal columns on the general purpose financial statements are captioned \"Memorandum Only\" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Certain reclassifications have been made to the comparative data to conform to the current year classifications. \nNote 2: DEPOSITS \nCOLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate of the face value of such surety bond and the market value of securities shall be equal to not less than 110 percent of the public funds being secured after the deduction of the amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \nAcceptable security for deposits consists of any one of or any combination of the following: \n( 1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \n- 11 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1995 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \n \n(3) Bonds, bills, notes, certificates ofindebtedness or other direct obligations of the United States or of the State of Georgia, \n \n(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia, \n \n(5) Bonds ofany public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \n \n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and \n \n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \n \nCATEGORIZATION OF DEPOSITS At June 30, 1995, the bank balances were $1,500,550.72. The amounts of the total bank balances are classified into three categories of credit risk: \n \nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \n \nThe Board's deposits are classified by risk category at June 30, 1995, as follows: \nRisk Category \n1 2 3 \nTotal \n \nBank Balance \n$ 200,000.00 0.00 \n1,300,550.72 \n$ 1,500,550.72 \n \n- 12 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1995 \n \nNote 3: NON-MONETARY TRANSACTIONS \nThe Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \nNote4: RISKMANAGEMENT \nThe Board is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illnesses or injuries to employees; natural disaster; and unemployment compensation. \nThe Board has obtained commercial insurance for risk of loss associated with torts, job related illnesses or injuries to employees, assets and natural disaster. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years. \nThe Board has obtained commercial insurance for errors and omissions, however the policy excludes coverage for sexual harassment and discrimination claims. The Board has not experienced any losses related to errors or omissions in the past three years. \nThe Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the General Fund with expenditures and liability being reported when it is probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated. The Board has not experienced any claims during the past two fiscal years. \nNote 5: GENERAL LONG-TERM DEBT \nCAPITAL LEASES The Lanier County Board ofEducation has entered into various lease agreements as lessee for copy machines and an energy management system. These lease agreements qualify as capital leases for accounting purposes and have been recorded at the total principal and interest payments as of the date of their inception. \nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1995, were as follows: \n \n- 13 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXIIlBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1995 \n \nNote 5: GENERAL LONG-TERM DEBT \n \nCapital Leases \n \nBalance July 1, 1994 \n \n$ 397,630.49 \n \nRetroactive Restatement ofPrior Year Balances \n \n292,320.49 \n \nBalance July 1, 1994 Restated \n \n$ 689,950.98 \n \nAdditions \n \n4,390.20 \n \nDeletions \n \n102,471.03 \n \nBalance June 30, 1995 \n \n$ 591,870 15 \n \nAt June 30, 1995, payments due, by fiscal year which includes principal and interest for these items are as follows: \n \n- Fiscal Year Ended June 30 \n \nCapital Leases \n \n1996 1997 1998 1999 2000 2001 and thereafter \n \n$ 99,746.28 99,746.28 88,330.23 57,008.88 57,008.88 190,029.60 \n \nTotal Principal and Interest Note 6: CONTINGENT LIABILITIES \n \n$ 591,870.15 \n \nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \n \n- 14 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXIIlBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1995 \n \nNote 7: RETIREMENT PLANS \nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS). \nTRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. A member is eligible for service retirement after 30 years of creditable service, regardless ofage, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \nRetirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the -member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death. \nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest. \nThe Board's payroll for employees covered by TRS for the year ended June 30, 1995, was $3,474,897.48; total payroll was $3,880,146.98. \nTRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board ofTrustees in accordance with State statute and as advised by their independent actuary. For fiscal year 1995 that rate for employer contributions was 11.81 %. The interest rate assumption (rate of return on investments) was 7.50%. \nTotal contributions made during fiscal year 1995 amounted to $584,131.05, of which $410,384.74 was made by the Board and $173,746.31 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll. \n \n- 15 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30, 1995 \n \nNote 7: RETIREMENT PLANS \n \nTRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers. \n \nTotal unfunded pension benefit obligation ofTRS as of June 30, 1994, was as follows: \n \nTotal pension benefit obligation \n \n$15,313,743,000.00 \n \nNet assets available for benefits, at cost \n \n14,254,785,000.00 \n \nUnfunded pension benefit obligation \n \n$ 1,058.958.000.00 \n \nThe measurement ofthe total pension benefit obligation is based on an actuarial valuation as of June 30, 1994. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers. \n \nTotal contributions from all employers to TRS for fiscal year ended June 30, 1995 were $565,117,811.00. The Board's contribution for the year ended June 30, 1995 of $410,384.74 was actuarially determined and represented .0726% of total contributions made by all participating employers. \n \nTen year historical trend information is presented in the 1995 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due. \n \nPUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS) \n \nPSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System of Georgia (PSERS). All employer's contributions are made by the State of Georgia in accordance with State statute. \n \nPSERS provides in accordance with State statute service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years of service and attainment ofage 65. A member applying for service retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to \n \n- 16 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nRJNE 30, 1995 \n \nNote 7: RETIB.EMENT PLANS \n$8.00 per month multiplied by the number of years of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \nRetirement provisions include death and disability benefits. Disability benefits are the same as if the employee \nhad retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are \ndependent upon the number ofyears of service. If there are less than ten years of service, a lump sum refund of the employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life half of what the employee would have received upon retirement. \nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest. \nThere were 40 employees covered under PSERS for the year ended June 30, 1995. \nPSERS CONTRIBUTIONS REQUIB.ED AND MADE Covered employees are required by State statute to contribute $4. 00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1995 amounted to $1,284.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1995, was $9,162,000.00. \nNote 8: SURETY BONDS \nThe School Superintendent, Mr. Raymond Moore, is bonded in the amount of $25,000.00 with the Western Surety Company, Sioux Falls, South Dakota, their Bond No. 68177952, on which premium was paid through July 14, 1995. \n \n- 17 - \n \n LANIER COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30 1995 \n \n~ cash and Cash Equivalents \nAccounts Receivable \nInventories Food Donated Commodities Purchased Food \nTotal Assets \nLIABILmES AND FUND EQUITY \nLIABILmEs \nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue \nTotal Liabilities \nFUND EQUITY \nFund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food \nUnreserved Undesignated \nTotal Fund Equity \nTotal Liabilities and Fund Equity \n \nSCHOOL FOOD \nSERVICES FUND \n \nLOTTERY PROGRAMS \n \nSTATE \n \nDRUG-FREE \n \nPRESCHOOL SCHOOLS AND \n \nHANDICAPPED COMMUNmES \n \nPROGRAM \n \nACT \n \n$ 200,027.95 \n \n$ \n \n0.00 \n \n9,951.91 $ 46,960.00 \n \n$ \n \n2,430.00 \n \n4,405.79 1,250.26 \n \n$ 215,635.91 $ 46,960.00 $ \n \n0.00 $ \n \n2,430.00 \n \n$ 45,401.46 \n \n$ \n \n7,916.84 \n \n1,558.54 \n \n26,888.28 \n \n$ 34,805.12 $ 46,960.00 \n \n$ \n \n1,663.47 \n \n766.53 \n \n$ \n \n2,430.00 \n \n$ \n \n4,405.79 \n \n1,250.26 \n \n$ \n \n5,656.05 \n \n175,174.74 $ \n \n$ 180,830.79 $ \n \n0.00 $ 0.00 $ \n \n$ 215,635.91 $ 46,960.00 $ \n \n0.00 $ 0.00 $ \n \n0.00 0.00 \n \n0.00 $ \n \n2,430.00 \n \nSee notes to the general purpose financial statements. \n \n- 18 - \n \n EXHIBIT\"E\" \n \nELEMENTARY AND SECONDARY EDUCATION ACT \n \nTITLE II- \n \nCHAPTER 1 \n \nEISENHOWER \n \nEDUCATION OF \n \nCHAPTER2 MATHEMATICS \n \nDEPRIVED \n \nMIGRANT BLOCK GRANT - AND SCIENCE \n \nCHILDREN \n \nPROGRAM FLOW THROUGH EDUCATION \n \nINDIVIDUALS WITH \n \nDISABILITIES EDUCATION ACT \n \nTITLE VI, B \n \nFLOW \n \nPRESCHOOL \n \nTHROUGH \n \nPROGRAM \n \nTOTALS JUNE 30, 1995 JUNE 30, 1994 \n \n$ \n \n1,926.23 \n \n$ \n \n143.44 $ 202,097.62 $ 185,043.48 \n \n$ \n \n59,000.00 \n \n$ \n \n11,214.00 $ \n \n7,178.00 $ \n \n3,333.06 \n \n140,066.97 237,930.36 \n \n4,405.79 1,250.26 \n \n6,537.58 3,200.53 \n \n$ \n \n59,000.00 $ \n \n1,926.23 $ \n \n11,214.00 $ \n \n7,178.00 $ \n \n3,333.06 $ \n \n143.44 $ 347,820.64 $ 432,711.95 \n \n$ \n \n9,764.17 \n \n$ \n \n10,121.33 $ \n \n555.83 \n \n30,709.70 \n \n1,370.16 \n \n8,404.80 \n \n0.24 \n \n$ \n \n59,000.00 $ \n \n1,926.23 $ \n \n11,214.00 $ 11,214.00 $ \n \n6,031.17 $ 6,031.17 $ \n \n3,333.06 $ \n3,333.06 $ \n \n$ 143.44 \n \n77,407.33 $ 20,152.54 58,968.14 \n9,315.01 \n \n107,921.57 96,822.48 67,709.50 1,347.15 856.00 \n \n143.44 $ 165,843.02 $ 274,656.70 \n \n$ \n \n0.00 $ \n \n0.00 $ \n \n$ \n \n0.00 $ \n \n0.00 $ \n \n$ \n \n1,146.83 \n \n$ 0.00 0.00 $ \n \n1,146.83 0.00 $ \n1,146.83 $ \n \n0.00 $ 0.00 $ \n \n$ \n \n1,146.83 $ \n \n1,834.99 \n \n4,405.79 1,250.26 \n \n6,537.58 3,200.53 \n \n$ \n \n6,802.88 $ 11,573.10 \n \n0.00 \n \n175,174.74 \n \n146,482.15 \n \n0.00 $ 181,977.62 $ 158,055.25 \n \n$ \n \n59,000.00 $ \n \n1,926.23 $ \n \n11,214.00 $ \n \n7,178.00 $ \n \n3,333.06 $ \n \n143.44 $ 347,820.64 $ 432,711.95 \n \n-19- \n \n LANIER COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES \nSPECIAL REVENUE FUND \nYEAR ENDED JUNE 30. 1995 \n \nREVENUES \nState Funds Federal Funds Local and Other Funds \nTotal Revenues \nEXPENDITURES \nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services Food Services Operation \nCapital Outlay \nTotal Expenditures \nExcess of Revenues over (under) Expenditures \nOTHER FINANCING SOURCES \nOperating Transfers In \nExcess of Revenues and Other Financing Sources over (under) Expenditures \nFUND BALANCE JULY 1 \nFood Inventory - Net Change in Period Donated Commodities Purchased Food \nFUND BALANCE JUNE 30 \n \nSCHOOL FOOD \nSERVICES FUND \n \nLOTTERY PROGRAMS \n \nSTATE PRESCHOOL HANDICAPPED \nPROGRAM \n \nDRUG-FREE SCHOOLS AND COMMUNITIES \nACT \n \n$ \n \n31,064.00 $ \n \n269,672.00 $ \n \n11,363.00 \n \n379,678.57 \n \n$ \n \n7,663.47 \n \n127,905.85 \n \n$ \n \n538,648.42 $ \n \n269,672.00 $ \n \n11,363.00 $ \n \n7,663.47 \n \n$ \n \n276,297.11 $ \n \n11,363.00 $ \n \n5,246.98 \n \n$ \n \n509,955.83 \n \n51,510.28 3,248.43 1,088.00 8,413.24 5,217.51 2,098.68 304.20 78.00 \n \n314.28 2,049.02 \n53.19 \n \n$ \n \n509,955.83 $ \n \n348,255.45 $ \n \n11,363.00 $ \n \n7,663.47 \n \n$ \n \n28,692.59 $ \n \n-78,583.45 $ \n \n0.00 $ \n \n0.00 \n \n78,583.45 \n \n$ \n \n28,692.59 $ \n \n156,220.26 \n \n0.00 $ 0.00 \n \n-2,131.79 -1,950.27 \n \n0.00 $ 0.00 \n \n0.00 0.00 \n \n$ \n \n180,830.79 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 \n \nSee notes to the general purpose financial statements. \n \n- 20- \n \n EXHIBIT\"F\" \n \nELEMENTARY AND SECONDARY EDUCATION ACT \n \nTITLE II \n \nCHAPTER 1 \n \nEISENHOWER \n \nEDUCATION OF \n \nCHAPTER2 \n \nMATHEMATICS \n \nDEPRIVED \n \nMIGRANT BLOCK GRANT - AND SCIENCE \n \nCHILDREN \n \nPROGRAM FLOW THROUGH EDUCATION \n \nINDIVIDUALS WITH \n \nDISABILITIES EDUCATION ACT \n \nTITLE VI, B \n \nFLOW \n \nPRESCHOOL \n \nTHROUGH \n \nPROGRAM \n \nTOTALS YEAR ENDED JUNE 30, 1995 JUNE 30, 1994 \n \n$ \n \n312,197.20 $ 12,327.91 $ \n \n5,690.40 \n \n$ \n \n317,887.60 $ 12,327.91 $ \n \n9,704.00 $ 9,704.00 $ \n \n7,178.00 $ 7,178.00 $ \n \n27,869.06 $ 27,869.06 $ \n \n$ 4,559.56 \n \n312,099.00 $ 761,177.77 133,596.25 \n \n263,635.74 744,054.09 108,086.10 \n \n4,559.56 $ 1,206,873.02 $ 1,115,775.93 \n \n$ \n \n198,756.69 $ 12,330.60 \n \n9,179.41 $ \n54,993.00 \n \n54,958.50 \n \n$ \n \n317,887.60 $ 12,330.60 $ \n \n$ \n \n0.00 $ \n \n-2.69 $ \n \n2.69 \n \n$ \n \n0.00 $ \n \n0.00 $ \n \n0.00 \n \n0.00 \n \n$ \n \n0.00 $ \n \n0.00 $ \n \n$ 9,679.19 \n24.81 \n9,704.00 $ 0.00 $ \n \n$ 7,834.99 \n31.17 \n7,866.16 $ -688.16 $ \n \n8,023.67 $ 1,736.56 14,891.38 \n874.90 1,400.00 \n942.55 \n27,869.06 $ 0.00 $ \n \n1,207.46 $ 513,225.51 $ 356,269.19 \n \n752.10 2,600.00 \n \n54,313.22 37,203.23 10,767.19 66,990.31 \n6,617.51 3,041.23 55,262.70 510,033.83 \n \n14,772.87 22,698.26 44,416.42 49,920.76 75,582.12 \n2,261.75 59,307.66 492,492.49 3,600.00 \n \n4,559.56 $ 1,257,454.73 $ 1,121,321.52 \n \n0.00 $ \n \n-50,581.71 $ \n \n-5,545.59 \n \n0.00 $ 0.00 \n \n-688.16 $ 1,834.99 \n \n0.00 $ 0.00 \n \n78,586.14 \n \n462.04 \n \n0.00 $ 0.00 \n \n28,004.43 $ 158,055.25 \n \n-5,083.55 163,465.60 \n \n-2,131.79 -1,950.27 \n \n-887.61 560.81 \n \n0.00 $ \n \n1,146.83 $ \n \n0.00 $ \n \n0.00 $ 181,977.62 $ 158,055.25 \n \n- 21 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \nYEAR ENDED JUNE 30. 1995 \n \nSCHEDULE \"1\" \n \nFUNDING AGENCY PROGRAM/GRANT \n \nCFDA NUMBER \n \nAWARDS IN PERIOD \n \nFEDERAL FUNDS RECEIVED IN PERIOD (NET OF REFUNDS) \n \nFEDERAL REVENUE IN PERIOD \n \nEXPENDITURES IN PERIOD \n \nAgriculture, U.S. Department of Through Coastal Plains Economic Opportunity Authority, Incorporated Child and Adult Care Food Program 1995 Contract Through Georgia Department of Education Food and Nutrition Program \nFood Services \nSchool Breakfast Program 1994 Grant 1995 Grant \nNational School Lunch Program 1994 Grant 1995 Grant \nFood Distribution Program (1) \n \n10.558 $ 19,414.92 $ \n \n10.553 10.553 \n10.555 10.555 10.550 \n \n90,306.10 \n238,523.22 31,434.33 \n \n19,414.92 $ 19,414.92 \n \n(2) \n \n1,382.56 87,686.78 \n4,582.89 231,190.63 NIA \n \n90,306.10 \n \n(2) \n \n238,523.22 $ 31,434.33 \n \n478,521.50 (3) 31 434.33 \n \nTotal U.S. Department of Agriculture \n \n$ 379,678.57 $ \n \n344,257.78 $ 379,678.57 $ \n \n509,955.83 \n \nEducation, U.S. Department of \n \nDirect \n \nP. L. 81-874 \n \n1995 Grant \n \n84.041 $ \n \nThrough Berrien County Board of Education \n \nd/b/a Southern Pine Migrant Education Agency \n \nElementary and Secondary Education Act \n \nChapter 1 \n \nMigratory Education Program \n \n1994 Regular \n \n84.011 \n \n1994 Summer \n \n84.011 \n \n1995 Regular \n \n84.011 \n \nThrough Georgia Department of Education \n \nDrug-Free Schools and Communities Act \n \n1995 Grant \n \n84.186 \n \nElementary and Secondary Education Act \n \nChapter 1 \n \nEducation of Deprived Children \n \n1993 Regular \n \n 84.010 \n \n1993 Carry-OVer \n \n 84.010 \n \n1994 Regular \n \n 84.010 \n \n1994 Carry-Over \n \n 84.010 \n \n1995 Regular \n \n 84.010 \n \nChapter 2 \n \nBlock Grant - Flow Through \n \n1995 Regular \n \n84.151 \n \nTitle II \n \nEisenhower Mathematics and Science \n \nEducation \n \n1994 Regular \n \n84.164 \n \n1995 Regular \n \n84.164 \n \nIndividuals with Disabilities Education Act \n \nTitle VI, B \n \nFlow Through \n \n1994 Regular \n \n84.027 \n \n1994 Carry-Over \n \n84.027 \n \n1995 Regular \n \n84.027 \n \nPreschool Program \n \n1994 Regular \n \n84.173 \n \n1994 Carry-Over \n \n84.173 \n \n1995 Regular \n \n84.173 \n \n1,592.00 $ \n950.00 11,550.00 \n8,430.00 \n40,977.00 299,471.00 \n9,704.00 \n7,178.00 \n2,536.00 35,568.00 \n628.00 6,300.00 \n \n1,592.00 $ \n \n1,592.00 \n \n(4) \n \n958.31 942.07 11,386.08 \n6,000.00 \n \n942.07 $ 11,385.84 \n7,663.47 \n \n942.07 11,388.53 (3) \n7,663.47 \n \n14,106.00 108,197.60 40,977.00 220,625.00 \n \n-10.00 \n40,977.00 271,230.20 \n9,704.00 \n \n-10.00 \n40,977.00 276,920.60 (3) \n9,704.00 \n \n7,178.00 \n \n1,834.99 6,031.17 \n \n-172.91 2,536.00 22,000.00 \n3,980.99 628.00 \n4,075.00 \n \n2,536.00 25,333.06 \n628.00 3,931.56 \n \n2,536.00 25,333.06 \n628.00 3,931.56 \n \n- 22 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \nYEAR ENDED JUNE 30 1995 \n \nSCHEDULE \"1\" \n \nFUNDING AGENCY PROGRAM/GRANT \n \nCFDA NUMBER \n \nAWARDS IN PERIOD \n \nFEDERAL FUNDS RECEIVED IN PERIOD (NET OF REFUNDS} \n \nFEDERAL REVENUE IN PERIOD \n \nEXPENDITURES IN PERIOD \n \nEducation, U.S. Department of \n \nThrough Georgia Department of Education \n \nVocational Education - Basic Grants to States \n \nHigh School Program \n \nBasic Grant \n \n1994 Grant \n \n84.048 \n \n$ \n \n16,219.00 \n \n1995 Grant \n \n84.048 $ 17,964.70 \n \n15,947.05 $ 17,964.70 \n \n(4) \n \nConsumer and Homemaking Education \n \n1995 Contract \n \n84.049 \n \n2,095.00 \n \n2,095.00 \n \n2,095.00 \n \n(4) \n \nTech-Prep Education \n \n1995 Grant \n \n84.243 \n \n39,999.28 \n \n31,597.36 \n \n39,999.28 \n \n(4) \n \nThrough Lowndes County Board of Health \n \nDrug-Free Schools and Communities Act \n \nHigh-Risk Youth Program \n \n1994 Regular \n \n84.186 \n \n840.77 \n \nTotal U.S. Department of Education \n \n$ 484,942.98 $ \n \n504,530.32 $ 443,150.18 $ \n \n387,880.45 \n \n$ 8641621.55 $ \n \n848?88,10 $ 8221828.75 $ \n \nThe Major Program is identified by an asterisk (*) in front of the CFDA number. \n \n(1)  The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. \n(2) Expenditures for these Programs were not maintained separately and are included in the 1995 National School Lunch Program. \n(3) Expenditures for this program include State, and/or Local and Other Funds. Expenditures are not maintained by fund source. \n(4) Expenditures on this program were not maintained by fund source. \n \n8971836.28 \n \nSee notes to the general purpose financial statements. \n \n- 23 - \n \n LANIER COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30, 1995 \n \nSCHEDULE \"2\" \n \nNONINTEREST BEARING ACCOUNTS \nFarmers and Merchants Bank, Lakeland, Georgia \nINTEREST BEARING ACCOUNTS \nFarmers and Merchants Bank, Lakeland, Georgia \nCertificates of Deposit No.16192 (6.50%) No. 16356 (6.50%) \nN.O.W. Accounts (3.50%) \n \n$ \n \n3,462.85 \n \n$ 597,550.00 31,450.00 \n407,648.42 \n \n1,036,648.42 \n \n$1,040,111.27 \n \nSee notes to the general purpose financial statements. - 24 - \n \n LANIER COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30. 1995 \n \nSCHEDULE \"3\" \n \nCommunity Affairs. Georgia Department of Local Assistance Grant \nEducation. Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education Federal Funds Lottery Programs Instructional Technology Technology Installation Federal Programs Drug-Free Schools and Communities Act ESEA - Chapter 1 Education of Deprived Children ESEA - Chapter 2 Block Grant - Flow Through ESEA-Title II Eisenhower Mathematics and Science Education Individuals with Disabilities Education Act Title VI. B - Flow Through Other State Programs At-Risk Summer School Program \nLanier County Elementary School Lost/Damaged Books \nLanier County Tax Commissioner County Wide School Tax \nValdosta State University Teacher Stipends \nVarious Sources Credit Memos Interest Earned \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nCAPITAL \n \nGENERAL \n \nREVENUE \n \nPROJECTS \n \nFUND \n \nFUND \n \nFUND \n \nTOTAL \n \n$ \n \n4,000.00 $ \n \n4,000.00 \n \n$ \n \n2,619.32 \n \n7,332.59 \n \n$ \n \n10,419.57 \n \n45,000.00 1,960.00 \n \n2,430.00 \n \n59,000.00 \n \n9,704.00 \n \n7,178.00 \n \n3,333.06 \n \n1,336.45 \n \n191.96 \n \n55,886.23 \n \n300.00 \n \n19,809.62 \n \n1,510.00 \n \n2,619.32 7,332.59 10,419.57 45,000.00 1,960.00 2,430.00 59,000.00 9,704.00 7,178.00 3,333.06 1,336.45 \n191.96 \n55,886.23 \n300.00 \n1,510.00 19,809.62 \n \n$ \n \n87,943.83 $ 140,066.97 $ \n \n4,000.00 $ 232,010.80 \n \nSee notes to the general purpose financial statements. \n \n- 25 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE \nYEAR ENDED JUNE 30. 1995 \n \nSCHEDULE 4 \n \nAGENCY/FUNDING \nGRANTS Community Affairs, Georgia Department of Local Assistance Grant \nEducation, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Sparsity Grant Middle School Incentive Special Instructional Assistance In-School Suspension School Counselors Grades 4 and 5 Superintendent Base Salary Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs At-Risk Summer School Program Preschool Handicapped Program Remedial Summer School Program Teachers' Retirement Lottery Programs Distant Leaming Instructional Technology Pre-Kindergarten Program Technology Installation \nGeorgia Public Telecommunications Commission Lottery Program Distant Leaming \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nCAPITAL \n \nGENERAL \n \nREVENUE \n \nPROJECTS \n \nFUND \n \nFUND \n \nFUND \n \nTOTAL \n \n$ \n \n40,000.00 $ \n \n40,000.00 \n \n$ 2,179,097.00 216,034.00 110,258.00 93,406.00 30,542.00 651,212.00 \n136,343.00 31,921.00 86,515.00 ----aa,865.00 164,780.00 65,112.00 19,971.00 17,505.00 -237,413.00 390,681.00 \n$ 18,316.00 \n6,269.65 \n3,225.33 6,787.47 \n \n31,064.00 \n11,363.00 \n3,532.00 52,993.00 210,331.00 \n1,960.00 \n \n2,179,097.00 216,034.00 110,258.00 93,406.00 30,542.00 651,212.00 \n136,343.00 31,921.00 86,515.00 88,865.00 164,780.00 65,112.00 19,971.00 17,505.00 -237,413.00 390,681.00 31,064.00 18,316.00 \n6,269.65 11,363.00 3,225.33 6,787.47 \n3,532.00 52,993.00 210,331.00 \n1,960.00 \n \n856.00 \n \n856.00 \n \n$ 4,079,427.45 $ 312,099.00 $ \n \n40,000.00 $ 4,431,526.45 \n \nSee notes to the general purpose financial statements. \n \n- 26 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE \nYEAR ENDED JUNE 30, 1995 \n \nSCHEDULE \"5\" \n \nTaxes County Wide School Tax Railroad Car Tax Real Estate Transfer Tax \nOther Canning Plant Operations Donations Indirect Cost Special Revenue Fund Interest Earned Jury Duty Fees Lost and Damaged Books Rent _Fair User Funds Sales Breakfast and Lunches School Assets Other \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nGENERAL \n \nREVENUE \n \nFUND \n \nFUND \n \nTOTAL \n \n$ 879,802.64 1,490.75 3,859.16 \n \n$ 879,802.64 1,490.75 3,859.16 \n \n2,135.71 222.16 \n4,234.00 56,362.03 $ \n257.50 245.14 \n783.00 1,032.69 \n \n5,769.35 \n5,690.40 121,744.50 \n392.00 \n \n2,135.71 222.16 \n4,234.00 62,131.38 \n257.50 245.14 \n5,690.40 \n121,744.50 1,175.00 1,032.69 \n \n$ 950,424.78 $ 133,596.25 $ 1,084,021.03 \n \nSee notes to the general purpose financial statements. - 27 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \nGOVERNMENTAL FUND TYPES \nYEAR ENDED JUNE 30, 1995 \n \nSCHEDULE \"6\" \n \nEXPENDITURES \nOperating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Compensation and Travel of Board Members Water, Sewer and Cleaning Services Repair and Maintenance Services Rents Property Services Insurance Communications Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Interest Expense Federal Indirect Costs Other Expenditures \nNonoperating Costs Principal and Interest Building and Building Improvements Equipment \n \nGENERAL FUND \n \nSPECIAL REVENUE \nFUND \n \nCAPITAL PROJECTS \nFUND \n \nTOTAL \n \n$ 3,360,850.00 $ 938,445.36 \n28,620.88 \n23,130.65 3,462.28 12,182.06 56,729.31 \n205.55 \n20,470.00 31,887.85 \n3,165.40 49,017.07 205,272.55 141,228.17 \n41,048.71 14,433.56 38,726.06 \n8,163.47 \n \n519,296.98 \n133,093.41 8,202.06 13,TT0.15 \n1,327.75 s,s21.n \n1,358.20 \n4,699.51 2,468.34 \n983.65 98,844.76 \n2,640.29 246,475.53 \n2,353.00 \n4,234.00 2,091.96 \n \n102,471.03 171,704.44 \n \n$ 206,087.37 \n \n$ 3,880,146.98 1,071,538.TT 36,822.94 \n36,900.80 \n3,462.28 13,509.81 66,257.08 \n205.55 1,358.20 20,470.00 \n36,587.36 \n2,468.34 3,165.40 50,000.72 304,117.31 \n143,868.46 \n246,475.53 41,048.71 16,786.56 38,726.06 \n4,234.00 \n10,255.43 \n \n12,366.11 \n \n102,471.03 12,366.11 \n3TT?91.81 \n \nTotal Expenditures \n \n$ 5,251,214.40 $ 1,257,454.73 $ \n \n12,366.11 $ 6,521,035.24 \n \nSee notes to the general purpose financial statements. \n \n- 28 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \nLOTTERY PROGRAMS YEAR ENDED JUNE 30, 1995 \n \nSCHEDULE '7\" \n \nDISTANT INSTRUCTIONAL PRE-KINDERGARTEN TECHNOLOGY \n \nLEARNING TECHNOLOGY \n \nPROGRAM \n \nINSTALLATION \n \nG.P.T.C. DISTANT LEARNING \n \nEXPENDITURES \n \nOperating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Repair and Mairllenance Services $ Communications Olher Purchased Services Supplies Energy Dues and Fees Olher Expenditures \n \n326.00 2,247.00 $ \n \n$ 1,962.75 \n \n127,991.83 36,831.59 4,248.08 400.00 \n33.59 26.68 26,406.27 $ 300.00 170.00 404.25 \n \n1,960.00 $ \n \n$ 856.00 \n \nNonoperating Costs Equipment \n \n130,258.16 \n \n13,833.25 \n \nTOTAL \n127,991.83 36.831.59 4,248.08 400.00 326.00 33.59 26.68 33,432.02 300.00 170.00 404.25 \n144,091.41 \n \nTotal Expenditures \n \n$ \n \n2,573.00 $ \n \n132,220.91 $ \n \n210,645.54 $ \n \n1,960.00 $ \n \n856.00 $ \n \n348,255.45 \n \nSee notes to the general purpose financial statements. \n \n- 29 - \n \n 30 \n \n LANIER COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1995 \n \nSCHEDULE \"8\" \n \nMinimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis \nSalaries Operations \nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \nExpenditures per Audit \nAmount of Underexpenditure for Total Allotment \n \nTHIRTEEN WEIGHTED AND MEDIA CENTER \nPROGRAMS \n \n100% TEST FOR OPERATIONS PORTION OF THIRTEEN WEIGHTED PROGRAMS \n \n$ 2,598,795.00 $ \n \n97,921.00 \n \n$ 2,658,243.59 \n \n- - - - - - - 232,198.35 $ \n \n213,262.00 \n \n$ 2,890,441.94 \n \n-24,344.34 $ 2,866,097.60 \n \n$ \n \no.oo $ ========o=.o=o \n \nSee notes to the general purpose financial statements. - 31 - \n \n LANIER COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30 1995 \n \nGENERAL AND CAREER EDUCATION PROGRAMS Kindergarten (\") Grades 1  3 (\") Sub-Total - K-3 Grades 4  5 (\") Grades 6 - 8 (\") Grades 9 - 12 (\") High School Laboratories () Vocational Education Laboratories() Total General and Career Education Programs \nSPECIAL EDUCAT!ON PROGRAMS Regular Programs Category II () Category Ill(\") Sub-Total - Regular Category V (Gifted) () Total Special Education Programs \nREMEDIAL EDUCATION PROGRAM 11 \nTotal Thirteen Weighted Programs MEDIA CENTER PROGRAMS \nSalaries Operations \nTotal Media Center Programs \nTotal Thirteen Weighted and Media Center Programs \nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \nTotal Staff Development \nc) Identifies Thirteen Weighted Programs. \n \nALLOTMENTS FROM DEPARTMENT OF EDUCATION \n \nREQUIRED \n \nORIGINAL \n \n% \n \nORIGINAL \n \nMID-TERM \n \n$ \n \n224,540.00 \n \n$ \n \n202,086.00 $ \n \n552,847.00 \n \n497,562.30 \n \n$ \n \n777,'.387.00 90 $ \n \n699,648.30 $ \n \n287,529.00 90 \n \n258,776.10 \n \n502,558.00 90 \n \n452,302.20 \n \n235,077.00 90 \n \n211,569.30 \n \n164,806.00 90 \n \n148,325.40 \n \n211,740.00 90 \n \n190,566.00 \n \n$ 2,179,097.00 \n \n$ 1,961,187.30 $ \n \n0.00 0.00 \n0.00 \n \n$ \n \n193,722.00 \n \n$ \n \n174,349.80 $ \n \n0.00 \n \n$ \n \n193,722.00 90 $ \n \n174,349.80 $ \n \n22,312.00 90 \n \n20,080.80 \n \n$ \n \n216,034.00 \n \n$ \n \n194,430.60 $ \n \n$ \n \n110,258.00 90 $ \n \n99,232.20 $ \n \n$ 2,505,'.389.00 \n \n$ 2,254,850.10 $ \n \n0.00 \n0.00 0.00 0.00 \n \n$ \n \n72,372.00 90 $ \n \n65,134.80 $ \n \n21,034.00 90 \n \n18,930.60 \n \n$ \n \n93,406.00 \n \n$ \n \n84,065.40 $ \n \n0.00 0.00 \n \n$ 2,598,795.00 \n \n$ 2,3'.38,915.50 $ \n \n0.00 \n \n$ \n \n15,202.00 \n \n15,340.00 \n \n$ \n \n15,202.00 $ \n \n15,340.00 \n \n$ \n \n30,542.00 100 $ \n \n30,542 00 $ \n \n0.00 0.00 \n0.00 \n \nSee notes to the general purpose financial statements. \n \n- 32 - \n \n SCHEDULE \"9'' \n \nTOTAL REQUIRED \n \nACTUAL EXPENDITURES \n \nSALARIES \n \nOPERATIONS \n \nTOTAL \n \nAMOUNT OF UNDEREXPENDITURE \nFOR REQUIRED ALLOTMENT \n \n$ \n \n202,086.00 $ \n \n241,916.74 $ \n \n10,210.25 $ \n \n252,126.99 \n \n497,562.30 \n \n613,172.63 \n \n24,324.54 \n \n637,497.17 \n \n$ \n \n699,648.30 $ \n \n855,089.37 $ \n \n34,534.79 $ \n \n889,624.16 $ \n \n0.00 \n \n258,776.10 \n \n269,739.76 \n \n11,633.43 \n \n281,373.19 \n \n0.00 \n \n452,302.20 \n \n479,744.94 \n \n34,757.21 \n \n514,502.15 \n \n0.00 \n \n211,569.30 \n \n230,279.80 \n \n38,588.53 \n \n268,868.33 \n \n0.00 \n \n148,325.40 \n \n178,625.21 \n \n10,365.27 \n \n188,990.48 \n \n0.00 \n \n190,566.00 \n \n185,532.01 \n \n77,158.50 \n \n262,690.51 \n \n0.00 \n \n$ 1,961,187.30 $ 2,199,011.09 $ \n \n207,037.73 $ 2,406,048.82 \n \n$ \n \n174,349.80 \n \n$ \n \n78,748.58 $ 138,758.84 \n \n1,000.00 $ 2,379.71 \n \n79,748.58 141.138.55 \n \n$ \n \n174,349.80 $ \n \n217,507.42 $ \n \n3,379.71 $ \n \n220,887.13 \n \n0.00 \n \n20,080.80 \n \n23,772.91 \n \n887.50 \n \n24,660.41 \n \n0.00 \n \n$ \n \n194,430.60 $ \n \n241,280.33 $ \n \n4,267.21 $ \n \n245,547.54 \n \n$ \n \n99,232.20 $ \n \n119,138.18 $ \n \n1,957.06 $ \n \n121,095.24 \n \n0.00 \n \n$ 2,254,850.10 $ 2,559,429.60 $ \n \n213,262.00 $ 2,772,691.60 \n \n$ \n \n65,134.80 $ \n \n98,813.99 \n \n$ \n \n98,813.99 \n \n0.00 \n \n18,930.60 \n \n$ \n \n18,936.35 \n \n18,936.35 \n \n0.00 \n \n$ \n \n84,065.40 $ \n \n98,813.99 $ \n \n18,936.35 $ \n \n117,750.34 \n \n$ 2,338,915.50 $ \n \n2,658,243.59 $ \n \n232,198.35 $ 2,890,441.94 $ \n \n0.00 \n \n$ \n \n15,202.00 \n \n15,340.00 \n \ns _ _ _30_,54_2_.oo_ \n \n$ \n \n15,550.54 $ \n \n15,550.54 \n \n15,340.00 \n \n15,340.00 \n \n$ \n \n30,890.54 $ \n \n30,890.54 s _ _ _ _ _ _o_.oo_ \n \n- 33 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \nYEAR ENDED JUNE 30, 1995 \n \nSCHEDULE \"1 O\" \n \nBOARD MEMBER ADDRESS \nMr. William L. Lee, Chairman (*) Route 1, Box 3A Lakeland, Georgia 31635 \nMr. Jimmy Benefield (*) 125 Miller Street Lakeland, Georgia 31635 \nMr. Alan Chadwick (*) P.O.Box183 Lakeland, Georgia 31635 \nMs. Johnnie M. Moulton (*) 1062 Bostick Street Lakeland, Georgia 31635 \nMs. Helen Strickland (*) Route 1, Box 146 Lakeland, Georgia 31635 \nMr. Larry Williams Route 2, Box 1049 Lakeland, Georgia 31635 \n \nCOMPENSATION \n \nTRAVEL \n \n$ \n \n650.00 \n \n650.00 \n \n350.00 $ \n \n212.28 \n \n650.00 \n \n650.00 \n \n300.00 \n \n(*) Denotes Board Members Serving as of June 30, 1995 \n \n$ \n \n3,250.00 $ \n \n212.28 \n \n====== \n \nSee notes to the general purpose financial statements. \n \n- 34 - \n \n SECTION II COMPLIANCE \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMarch 8, 1996 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board of Education \nand Superintendent and Members of the Lanier County Board ofEducation \nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nLadies and Gentlemen: \nWe have audited the general purpose financial statements of the Lanier County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated March 8, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \nWe conducted our audit in accordance with generally accepted auditing standards and 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 general purpose financial statements are free of material misstatement. \nCompliance with laws, regulations, contracts, and grants applicable to Lanier County Board of Education is the responsibility of the Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective of our audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion. \nThe results ofour tests disclosed no instances of noncompliance that are required to be reported herein under Government Auditing Standards. \n \n95CRL-10 \n \n This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \nRespectfully submitted, \n \nCLV:dt 95CRL-10 \n \nClaude L. Vickers State Auditor \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMarch 8, 1996 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \nand Superintendent and Members of the Lanier County Board ofEducation \n \nSINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS \n \nLadies and Gentlemen: \n \nWe have audited the general purpose financial statements of the Lanier County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated March 8, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \n \nWe have applied procedures to test the Board's compliance with the following requirements applicable to each ofits Federal financial assistance programs, which are listed in the Schedule of Federal Financial Assistance, for the year ended June 30, 1995: \n \n( 1) Political Activity \n \n(5) Allowable Costs/Cost Principles \n \n(2) Civil Rights \n \n(6) Drug-Free Workplace Act \n \n(3) Cash Management \n \n(7) Audit Follow-Up/Resolution \n \n(4) Federal Financial Reports \n \n(8) Administrative Requirements \n \nOur procedures were limited to the applicable procedures described in the Office of Management and Budget's \"Compliance Supplement for Single Audits of State and Local Governments\" and other additional procedures as deemed necessary. Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Board's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. \n \n95CRL-50 \n \n With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph of this report. With respect to items not tested, nothing came to our attention that caused us to believe that the Lanier County Board of Education had not complied, in all material respects, with those requirements. However, the results of our procedures disclosed an immaterial instance ofnoncompliance with those requirements, which is described in the Schedule of Findings and Improper or Questioned Costs. \nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \nRespectfully submitted, \n \nCLV:dt 95CRL-50 \n \nClaude L. Vickers State Auditor \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMarch 8, 1996 \n \nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \nand Superintendent and Members ofthe Lanier County Board ofEducation \n \nSINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS \n \nLadies and Gentlemen: \n \nWe have audited the general purpose financial statements of the Lanier County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated March 8, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \n \nWe have also audited the Board's compliance with the requirements governing: \n \n(1) Types of Services Allowed or Unallowed \n \n(5) Applicable Special Tests and Provisions \n \n(2) Eligibility \n(3) Matching, Level ofEffort, and/or Earmarking \n \n(6) Other Requirement Claims for Advances and Reimbursements \n \n(4) Reporting \n \nThese requirements are applicable to the major Federal financial assistance program, which is identified in the Schedule of Federal Financial Assistance, for the year ended June 30, 1995. The management of the Lanier County Board of Education is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit. \n \n95CRL-80 \n \n We conducted our audit of compliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and Office ofManagement and Budget (0MB) Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Board's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion. \nIn our opinion, the Lanier County Board ofEducation complied, in all material respects, with the requirements \nas disclosed in the second paragraph that are applicable to the major Federal financial assistance program for the year ended June 30, 1995. \nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \nRespectfully submitted, \n~ \nClaude L. Vickers State Auditor \nCLV:dt 95CRL-80 \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMarch 8, 1996 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation \nand Superintendent and Members of the Lanier County Board ofEducation \n \nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \n \nLadies and Gentlemen: \n \nWe have audited the general purpose financial statements of the Lanier County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated March 8, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \n \nIn connection with our audit ofthe fiscal year 1995 general purpose financial statements of the Lanier County Board of Education and with our consideration of the Board's control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (0MB) Circular A-128, \"Audits of State and Local Governments\", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1995. As required by 0MB Circular A-128, we have perfomied auditing procedures on the selected transactions to test compliance with the requirements governmg: \n \n(1) Types of Services Allowed or Unallowed \n \n(2) Eligibility \n \nOur procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Board's compliance with these requirements. Accordingly, we do not express such an opinion. \n \nWith respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Lanier County Board of Education had not complied, in all material respects, with those requirements. \n \n95CRL-120 \n \n This report is intended for the infonnation of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \nRespectfully submitted, \n \nCLV:dt 95CRL-120 \n \nClaude L. Vickers State Auditor \n \n SECTION III INTERNAL CONTROL \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMarch 8, 1996 \n \nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \nand Superintendent and Members ofthe Lanier County Board ofEducation \nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nLadies and Gentlemen: \nWe-have audited the general purpose financial statements of the Lanier County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated March 8, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \nWe conducted our audit in accordance with generally accepted auditing standards, and 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 general purpose financial statements are free of material misstatement. \nThe management ofthe Lanier County Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. \n \n95ICL-3 \n \n In planning and performing our audit of the general purpose financial statements of the Lanier County Board ofEducation for the year ended June 30, 1995, we obtained an understanding of the internal control structure. With respect to the internal control structure, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to determine our auditing procedures for the purpose of expressing our opinion on the gen,eral purpose financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion. \n \nWe noted certain matters involving the internal control structure and its operation that we consider to be reportable conditions under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements. \n \nAs described in the Schedule ofFindings and Improper or Questioned Costs, reportable conditions were noted in the following control categories: \n \n(1) Accounting Controls (Overall) \n \n(2) General Fixed Assets \n \nA material weakness is a reportable condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. \n \nOur consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that both ofthe reportable conditions disclosed above are also considered to be material weaknesses. \n \nThese conditions were considered in determining the nature, timing, and extent of the procedures to be performed in our audit of the Lanier County Board of Education's general purpose financial statements and this report does not affect our report thereon dated March 8, 1996. \n \nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. . \n \nRespectfully submitted, \n \nCLV:dt 95ICL-3 \n \nClaude L. Vickers State Auditor \n \n CLAUDE L. VICKERS \nSTATE AUDITOR \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMarch 8, 1996 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \nand Superintendent and Members of the Lanier County Board ofEducation \nSINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \nLadies and Gentlemen: \nWe have audited the general purpose financial statements of the Lanier County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated March 8, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We have also audited the Lanier County Board of Education's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated March 8, 1996. \nWe conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and the provisions of Office of Management and Budget (0MB) Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the Lanier County Board ofEducation complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program. \nIn planning and performing our audit for the year ended June 30, 1995, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinions on the Board's general purpose financial statements and on its compliance with requirements applicable to major Federal financial assistance programs and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated March 8, 1996. \n95ICL-11 \n \n The management ofthe Lanier County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that, assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that Federal financial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness ofthe design and operation of policies and procedures may deteriorate. \n \nFor the purpose of this report, we have classified the significant internal control structure policies and procedures used in administering Federal financial assistance programs in the following control categories: \n \nGENERAL REQUIREMENTS \n \nSPECIFIC REQUIREMENTS \n \n(1) Political Activity (2) Civil Rights (3) Cash Management (4) Federal Financial Reports \n \n(1) Types of Services Allowed or Unallowed \n(2) Eligibility \n(3) Matching, Level of Effort, and/or Earmarking \n \n(5) Allowable Costs/Cost Principles \n \n(4) Reporting \n \n(6) Drug-Free Workplace Act (7) Audit Follow-Up/Resolution (8) Administrative Requirements \n \n(5) Applicable Special Tests and Provisions \n(6) Other Requirements Claims for Advances and Reimbursements \n \nFor all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures and determined whether they have been placed in operation, and we assessed control risk. \n \nDuring the year ended June 30, 1995, the Lanier County Board ofEducation expended 67% of its total Federal financial assistance under a major Federal financial assistance program and the following nonmajor Federal financial assistance program: \n \n95ICL-11 \n \n Food and Nutrition Program Food Services National School Lunch Program \nWe performed tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements and specific requirements as described above that are applicable to the Board's major Federal financial assistance program, which is identified in the Schedule of Federal Financial Assistance, and the aforementioned nonmajor program. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. \nWe noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the Board's ability to administer Federal financial assistance programs in accordance with applicable laws and regulations. \nAs described in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category: \nAdministrative Requirements \nA material weakness is a reportable condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. \nOur consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might be reportable conditions, and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition described above is also considered to be a material weakness. \nThis condition was considered in determining the nature, timing, and extent of the procedures to be performed in our audit ofthe Lanier County Board of Education's compliance with requirements applicable to its major Federal financial assistance program for the year ended June 30, 1995, and this report does not affect our report thereon dated March 8, 1996. \n95ICL-l l \n \n This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution ofthis report which is a matter of public record. \nt r ~ ~ Respectfully submitted, \nClaude L. Vickers State Auditor \nCLV:dt 95ICL-1 l \n \n SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \nYEAR ENDED JUNE 30, 1995 \nPRIOR YEAR \nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $426.80 Audit Control Number 6861-93-05 \nThe audit report for the year ended June 30, 1994, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of $426.80 for the Staff Development - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department of Education to refund this underexpenditure as required. The underexpenditure of $426.80 should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period. \nPRIOR YEAR/CURRENT YEAR \nACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS -Federal Financial Assistance Inadequate Separation ofDuties Reportable Condition - Material Weakness Audit Control Number 6861-93-01 \nThe audit report for the year ended June 30, 1994, stated that the Board did not provide for adequate separation of employee duties in the performance of accounting functions and related procedures. In the year under review, no improvement in adequate separation of employee duties was noted. This deficiency was a result of management's decision to limit the number of administrative staff made responsible for accounting functions. Management should periodically review this decision to determine if employee duties can be reassigned to achieve a higher degree of internal control with existing staff \nNote: All Federal financial assistance programs listed in the Schedule of Federal Financial Assistance, Schedule \"l \" of this report are affected by this finding. \nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6861-93-03 \nThe audit report for the year ended June 30, 1994, noted that the management of the Lanier County Board ofEducation had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \nYEAR ENDED JUNE 30, 1995 \nPRIOR YEAR/CURRENT YEAR \nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6861-93-03 \ncondition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include but may not be limited to date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. \nCURRENT YEAR \nAUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Nonmaterial Noncompliance Audit Control Number 6861-95-01 \nThe Board failed to submit a copy of the 1994 audit report to the Coastal Plains Economic Opportunity Authority, Incorporated from whom the Board received Child and Adult Food Care Program (CFDA 10.558) funds. Paragraph 13f ofOMB Circular A-128 requires that recipients of Federal financial assistance submit copies of single audit reports to those agencies providing Federal financial assistance. Even though formally notified in writing of the audit report distribution responsibilities by the Department of Audits, management failed to perform the distribution requirement. Procedures should be implemented to ensure that reports are submitted to grantor agencies in accordance with audit distribution requirements. \nGENERAL LEDGER Outstanding Loan Financial Statements Nonmaterial Noncompliance Audit Control Number 6861-95-02 \nOn December 31, 1994, the General Fund had an unpaid loan outstanding in the amount of $120,000.00. Article IX, Section V, Paragraph V of the Constitution of the State of Georgia provides, in part, as follows: \n\"The governing authority of any county, municipality or other political subdivision of this state may incur debt by obtaining temporary loans in each year to pay expenses. . . Such loans shall be payable on or before December 31 of the calendar year in which such loan is made...\". \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \nYEAR ENDED JUNE 30, 1995 \nCURRENT YEAR \nGENERAL LEDGER Outstanding Loan Financial Statements Nonmaterial Noncompliance Audit Control Number 6861-95-02 \nThis condition occurred because the Board claimed to not be aware of this law. Repayment ofloans should be made in conformity with constitutional limitations. \nNote: The Lanier County Board of Education was provided an opportunity to include pertinent comments from the Board's management concerning these audit findings, conclusions and recommendations. The Board has elected not to provide comments for inclusion in this report. \n \n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1993-h94","title":"Audit report, Lanier County Board of Education, Lakeland, Georgia, year ended June 30, 1994","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Lanier County, 31.03789, -83.06265"],"dcterms_creator":["Georgia. 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Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1993-h94"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bl28-b1993-h94"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"GA (1180[ ,R, \n82(,,, \n1-2.a \n,q93.94 \nSTATE OF GEORGIA DEPARTMENT OF AUDITS \n254 WASHINGTON STREET ATLANTA. GEORGIA 30334 \n \n AUDIT REPORT LANIER COUNTY BOARD OF EDUCATION \nLAKELAND,GEORGIA YEAR ENDED JUNE 30, 1994 \n \n LANIER COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \n \n~ SECTION I \n \nFINANCIAL \n \nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \n \nEXHIBITS \n \nGENERAL PURPOSE FINANCIAL STATEMENTS \n \nCOMBINED STATEMENTS - OVERVIEW \n \nA \n \nCOMBINED BALANCE SHEET \n \nALL FUND TYPES AND ACCOUNT GROUP \n \n2 \n \nB \n \nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \n \nCHANGES IN FUND BALANCES \n \nGOVERNMENTAL FUND TYPES \n \n4 \n \nC \n \nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \n \nCHANGES IN FUND BALANCES - ACTUAL AND BUDGET \n \nGOVERNMENTAL FUND TYPES \n \n5 \n \nD . NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \n6 \n \nADDITIONAL FINANCIAL INFORMATION \n \nCOMBINING STATEMENTS \n \nSPECIAL REVENUE FUND \n \nE \n \nCOMBINING BALANCE SHEET \n \n18 \n \nF \n \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \n \nAND CHANGES IN FUND BALANCES \n \n20 \n \nCAPITAL PROJECTS FUND \n \nG \n \nCOMBINING BALANCE SHEET \n \n22 \n \nH \n \nCOMBINING STATEMENT OF REVENUES, EXPENDITURES AND \n \nCHANGES IN FUND BALANCES \n \n23 \n \nSCHEDULES \n \nI SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \n \n24 \n \n2 ANALYSIS OF CASH AND CASH EQUIVALENTS \n \n26 \n \n3 ACCOUNTS RECEIVABLE \n \n27 \n \n LANIER COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \n \nSECTION I \n \nFINANCIAL \n \nADDITIONAL FINANCIAL INFORMATION \n \nSCHEDULES \n \nSCHEDULE OF REVENUE \n \n4 \n \nSTATE FUNDS \n \n28 \n \n5 \n \nLOCAL AND OTHER FUNDS \n \n29 \n \nSCHEDULE OF EXPENDITURES BY OBJECT \n \n6 \n \nGOVERNMENTAL FUND TYPES \n \n31 \n \n7 \n \nLOTTERY PROGRAMS \n \n32 \n \nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \n \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \n \n8 \n \nOVERALL \n \n35 \n \n9 \n \nBYPROGRAM \n \n36 \n \n10 SCHEDULE OF COMPENSATION OF BOARD MEMBERS \n \n38 \n \nSECTION II \nCOMPLIANCE \nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nSINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS \nSINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS \nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \n \n LANIER COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \nSECTION III INTERNAL CONTROL REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \nSECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \n \n SECTION I FINANCIAL \n \n CLAUDE L. VICKERS \nSTATE AUDITOR (404) 656-2174 \n \nDEPARTMENT OF AUDITS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMay 16, 1995 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \nand Superintendent and Members of the Lanier County Board ofEducation \nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARYINFORMATIONSCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \nLadies and Gentlemen: \nWe have audited the general purpose financial statements (Exhibits A through D) of the Lanier County Board of Education, as of and for the year ended June 30, 1994, as listed in the table of contents. These financial statements are the responsibility ofthe Board's management. Our responsibility is to express an opinion on these financial statements based on our audit. \nWe conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \nAs described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \n The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. \n94ARL-13 \n \n * School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. \n* The Board did not recognize as expenditures, in the year ended June 30, 1994, a portion of salaries and the corresponding employer's cost ofrelated benefits earned for contractual services completed prior to June 30, 1994. Also funds received, subsequent to June 30, 1994, from the Georgia Department ofEducation for the State's share of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were improperly recorded in the year ended June 30, 1994. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \nThe aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material. \nIn our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Lanier County Board of Education as of June 30, 1994, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. \nOur audit was conducted for the purpose offorming an opinion on the general purpose financial statements of the Lanier County Board ofEducation taken as a whole. The combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 10 which includes the Schedule of Federal Financial Assistance) are presented for purposes ofadditional analysis and are not a required part of the general purpose financial statements of the Lanier County Board ofEducation. Such information has been subjected to the auditing procedures applied in the audit ofthe general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. \nA copy ofthis report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code ofGeorgia Annotated Section 50-6-24. \n\"Z~ \nClaude L. Vickers State Auditor \nCLV:djf 94ARL-13 \n \n LANIER COUNTY BOARD OF EDUCATION - 1- \n \n ASSETS \nCash and Cash Equivalents \nAccounts Receivable \nInventories Food Donated Commodities Purchased Food \nAmount to be Provided in Future Years For Payment of Capital Lease Agreements \n \nBOARD OF EDUCATION BALANCE SHEET AND ACCOUNT GROUP E 3 1994 \n \nGOVERNMENTAL FUND \n \nSPECIAL \n \nGENERAL \n \nREVENUE \n \nFUND \n \nFUND \n \n$ 1,108,073.99 $ \n \n77,121.91 \n \n40,272.20 \n \n237,930.36 \n \n6,537.58 3,200.53 \n \nTotal Assets \n \n$ 1,148,346.19 s_=._32.4._.1_9_0._3_8 \n \nLIABILITIES AND FUND EQUITY \nLIABILITIES \nAccounts Payable Salaries Payable Notes Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue Capital Lease Agreements \nTotal Liabilities \nFUND EQUITY \nFund Balances Reserved For Bus Replacement Funds For Continuation of Federal Program For Expired Grant Balances/Questioned Costs For Encumbrances - Governor's Emergency Funds For Inventories Food Donated Commodities Purchased Food For state Capital Outlay Projects \nUnreserved Undesignated \nTotal Fund Equity \n \n$ \n \n72,044.82 $ \n \n635,000.00 \n \n96,822.48 67,709.50 \n1,347.15 \n \n856.00 \n \n$ 707 044.82 $ _ _,1;.::.66eL7:..:3;.::.5:...:.13=- \n \n$ \n \n1,834.99 \n \n$ \n \n426.80 \n \n$ \n \n426.80 $ \n \n440 874.57 \n \n$ 441,301.37 $ \n \n6,537.58 3,200.53 \n11,573.10 146 482.15 158 055.25 \n \nTotal Liabilities and Fund Equity \n \n$ 11148,346.19 $ \n \nThe notes to the general purpose financial statements are an integral part of this statement. -2 - \n \n324:790.38 \n \n EXHIBIT\"/\u003e:' \n \nTYPES CAPITAL \nPROJECTS FUND \n \n$ \n \n79,458.87 \n \n2,000.00 \n \nACCOUNT GROUP GENERAL \nLONG-TERM DEBT \n \nTOTALS (Memorandum Onlll JUNE 30 1994 JUNE 30 1993 \n \n$ 1,264,654.77 $ 1,532,866.06 \n \n280,202.56 \n \n487,440.47 \n \n6,537.58 3,200.53 \n \n7,425.19 2,639.72 \n \n$ \n \n397 630.49 \n \n397 630.49 \n \n59,983.92 \n \n$ \n \n81 458.87 $ \n \n397 630.49 $ 1 9.52 225. 93 $ 2,090,355.36 \n \n$ \n \n81,458.87 \n \n$ \n \n$ \n \n81 458.87 $ \n \n$ \n397 630.49 397 630.49 $ \n \n168,867.30 $ 67,709.50 635,000.00 \n1,347.15 81,458.87 \n0.00 856.00 397 630.49 \n1 352,869.31 $ \n \n60,186.00 63,496.67 596,920.00 \n3,537.04 295,800.67 \n32,222.30 \n59 983.92 \n1112146.60 \n \n$ \n \n0.00 \n \n$ \n \n0.00 \n \n$ \n \n81 458.87 $ \n \n$ \n \n387.39 \n \n$ \n \n1,834.99 \n \n426.80 \n \n426.80 \n \n20,000.00 \n \n6,537.58 3,200.53 \n \n7,425.19 2,639.72 39183.29 \n \n$ \n \n11,999.90 $ \n \n70,062.39 \n \n587,356.72 \n \n908146.37 \n \n$ 599 356.62 $ 978,208.76 \n \n397 630.49 $ 1 952,225.93 $ 2 090 355.36 \n \n-3 - \n \n LANIER COUNIY BOABP OF EPYCATION CQMBINEP STATEMENT OF REVENUES EXPENPIIUBES AND CHANGES IN FUNP BA.LANCES \nGO\\/ERNMENTAL EUNP TYPES YEAR ENDED JUNE 30 1R94 \n \nEXHIBIT\"B\" \n \nGENERAL FUND \n \nSPECIAL REVENUE \nFUND \n \nCAPITAL PROJECTS \nFUND \n \nTOTALS lMemorandum On!Y,l \nYEAR ENDED \nJUNE 30 1994 JUNE30 1993 \n \n~ \n \nState Funds Federal Funds Local and Other Funds \n \n4,001,528.22 $ 18,081.00 \n910928.28 \n \n263,635.74 $ 744,054.08 108086.10 \n \n1,071,008.36 $ 65000.00 \n \n5,336,1n.32 $ 762,145.08 \n1084014.38 \n \n4,134,536.94 838,574.48 \n1 Dn646.43 \n \nTolal Revenues \n \n4 930 547.50 $ 1115n5.93 $ 1136 008.36 $ 7 182 331.79 $ 6045757.85 \n \ns-- EXPENDITURES Current lnotruclion \nPupilSeMces Improvement cl Instructional SeMces Educational Media SeMces General Administration School Administration Business Administration Maintenance nd Operation d Ptant Student Transportation SeMces Cantral Support SeMces Other Support Sarvices Food Sarvices Operation Enterprise Operation Other Operations cl Non-Instructional SeMces Capital Outlay llebt Service Principal I- \nTotal~ros \nExcou cl Rovan- ..,.. (under) Expenditures \n \n3,064,683.78 $ 356,269.19 \n \n3,420,952.97 $ 3,212,866.07 \n \n132,548.78 196,939.14 127,297.22 121,154.n 376,984.68 119,712.43 831,050.04 222,342.55 \n8,399.84 1,257.08 8,700.62 23,767.18 39,324.57 \n \n14,7n.87 22,696.26 44,416.42 49,920.76 \n75,582.12 2,261.75 \n58,307.66 492,492.49 \n3,600.00 $ 1,545,195.51 \n \n147,321.65 219,637.40 171,713.64 171,075.53 378,984.68 119,712.43 906,632.16 224,604.30 \n8,399.84 60,564.75 501,193.11 23,767.18 39,324.57 1,548,795.51 \n \n133,687.82 198,302.16 138,208.88 149,n8.n 358,397.22 142,459.57 m,460.18 222,492.83 38,271.08 \n6,649.99 447,114.03 \n24,167.26 34,834.32 407,849.03 \n \n20,198.02 17 807.90 \n \n20,198.02 17 807.90 \n \n$ 5 312 168.61 $ 1 121 321.52 $ 1 545195.51 $ 7 978 685.64 $ 5887539.19 \n \n$ -381 621.11 $ \n \n-5 545.58 $ -409187.15 $ -796 353.85 $ 158218.66 \n \nQIHEB EIN6NQIN~ BQUBCE (U~Em \n \nCapitol i . Operating Transr.r. In Operating Trans'9rs Out \n \n$ 417,828.51 $ \n-350 465.90 \n \n462.04 $ \n \n$ 350,003.88 \n \n417,828.51 350,465.90 $ -350465.90 \n \n110,000.00 -110000.00 \n \nTotal Other F11111nc:ing Souroes (USO$) \n \n67382.81 $ \n \n462.04 $ 350003.88 $ 417 828.51 $ \n \n0.00 \n \nExcess d Revenues and Olhar Fmancing Sources \"\"\" (under) Expenditures and Other F'\"\"ncing Uses $ \n \n-314,258.50 $ \n \n-5,063.55 $ \n \n-59,183.29 $ -378,525.34 $ \n \n158,218.66 \n \nFUNP BA.LANCE JUbY 1 \nFood I ~ - Not Change in Period Donatocl Commodities Purohased Food \n \n755,559.87 \n \n163,465.60 \n-a87.61 560.81 \n \n58,183.29 \n \n978,208.76 \n-a87.61 560.81 \n \n820,433.87 \n-1,643.95 1200.18 \n \nFUND BA.LANCE JUNE 30 \n \n441,301.37 $ 158,055.25 $ \n \n0.00 $ 589,356.62 $ 978,208.76 \n \nThe notes to the general purpose financial statements are an integral part d this statement. -4- \n \n LANIER COUNTY BOARD OF EDUCATION ~Ml:!lf!!EQ filAil;MENT OF REVENUE EXPEND!IVRE ANQ Q!:IANGES IN FUND !laLANQES \n61.IVIIL ANQ BVC!!:aEI  !,OllERtjME!:!ll,b FUtjQ TYPES \nYEAR FNPFPJLJNF 30 1994 \n \nEXHIBrr\"C\" \n \nACTUAL PER \nEXHIBrr\"B\" \n \nACTUAL PER \nADJUSTMENTS BUDGET BASIS \n \nBUDGET \n \nVARIANCE FAVORABLE (UNFAVORABLE) \n \n~ \nstate Funds Federal Funds Local and Other Funds \n \ns $ 5,336,1n.32 \n762,145.09 1,084,014.38 \n \ns 0.00 $ 5,336,1n.32 5,421,184.13 $ \n \n762,145.09 \n \n706,303.62 \n \n1,084,014.38 \n \n965,476.76 \n \n-85,011.81 55,841.47 118,537.62 \n \nTotal R\"\"\"\"ues \n \n$ 7,182,331.79 $ \n \n0.00 $ 7,182,331.79 $ 7,092,964.51 $ \n \n89,387.28 \n \nEXPE!:jQrruRES \ncurrent \nInstruction Support Services \nPupil Services Improvement of lnstruotional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enle,prioe Operation\u0026 Other Operation\u0026 of Non-lnelructional Services Copital outlay Debt Service \n \n$ 3,420,952.97 $ \n147,321.65 219,637.40 171,713.84 171,075.53 376,984.68 119,712.43 906,632.16 224,604.30 \n8,399.84 60,584.75 501,193.11 23,767.18 38,324.57 1,548,795.51 38,005.92 \n \n0.00 $ 3,420,952.97 $ 3,369,483.14 $ \n \n147,321.65 219,637.40 171,713.84 171,075.53 376,984.68 119,712.43 906,632.16 224,604.30 \n8,399.84 60,584.75 501,193.11 23,767.18 39,324.57 1,548,795.51 38,005.92 \n \n133,053.39 204,161.93 140,295.10 155,473.40 371,052.54 142,031.44 369,359.11 244,947.65 \n3,084.44 60,463.00 420,781.57 21,204.52 35,660.99 1,443,812.00 \n0.00 \n \n-51,469.83 \n-14,268.26 -15,475.47 -31,418.54 -15,602.13 \n-5,932.14 22,319.01 -537,273.05 20,343.35 -5,335.40 \n-101.75 -$),411.54 \n-2,562.66 -3,663.58 -104,983.51 -38,005.92 \n \nTotal Expendttures \n \n$ 7,978,685.84 $ \n \n0.00 $ 7,978,685.84 $ 7,114,844.22 $ \n \n.a63841.42 \n \nExcesg of Revenues CNer (under) Expendttures \n \n$ -796,353.65 $ \n \n0.00 $ -796,353.85 $ -21,879.71 $ \n \n-774,474.14 \n \nOTHEB F!NA!!!l:;IN!; !i,OUBQE (UEl \n \nOther Sources Other Uaec \n \n$ 768,294.41 $ -350,465.90 \n \n0.00 $ 768,294.41 $ 75,000.00 $ \n \n-350,465.90 \n \n-75,000.00 \n \n693,294.41 -275,465.90 \n \nTotal other F',nancing Sources (Uoes) \n \n$ 417,828.51 $ \n \n0.00 $ 417,828.51 $ \n \n0.00 $ \n \n417,828.51 \n \n'\"\" Exceu of Revenues and other Financing Sources (under) Expend~ureo and Other Financing Uses $ -378,525.34 $ \n \n0.00 $ -378,525.34 $ -21,879.71 $ \n \n-356,645.63 \n \nFUNQ l:!,!ILANQE ~VbY 1 1993 \n \n978,208.76 \n \n-10,084.91 \n \n968,143.85 \n \n976,199.67 \n \n~.055.82 \n \nA~USTME!:illl \n \nPrior Year (Net) \n \n0.00 \n \n0.00 \n \n-16,958.40 \n \n16,958.40 \n \nE991l ltlllE!!!IOBY  HEI QHANGE IN PERIOQ \n \nDonated Commodities Purchaeed Food \n \n~7.61 \n \n887.61 \n \n0.00 \n \n0.00 \n \n560.81 \n \n-560.81 \n \n0.00 \n \n0.00 \n \nE!.!ND Ml ~N~F J!.!NE ~ 1994 \n \n$ 599,356.62 $ \n \n-9,738.11 $ 589,618.51 $ 937.361.56 $ \n \n-347,743.05 \n \nThe notes to the general purpose financial statements are an integral part of this statement. -5- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30 1994 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nThe Lanier County Board of Education (Board) 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. With the exception ofthe departures from generally accepted accounting principles disclosed in the following paragraphs, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards. \nThe more significant of the Board's accounting policies are described below. \nREPORTING ENTITY \nIn evaluating how to define the government unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, \"Defining the Financial Reporting Entity\". The primary government consists of all the organizations that compose the legal entity of the Lanier County Board of Education. \nBased upon the application of the above criteria, the Lanier County Board ofEducation is determined to be the lowest level of government exercising oversight responsibility and control over all activities related to public education in Lanier County, Georgia. The Board is not included in any other governmental \"reporting entity\" as defined by GASB Codification of Governmental Accounting and Financial Reporting Standards. \nBoard members were elected by the public and have decision making authority, the power to designate management, the ability to significantly influence operations, and primaly accountability for fiscal matters. The Board determines the millage rate at which school taxes are levied and may incur bonded indebtedness with voter approval. \nFUND ACCOUNTING \nThe Board uses funds and an account group to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. \nA fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \nGeneral Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \n- 6- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30 1994 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \nThe general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \nGOVERNMENTAL FUND TYPES - are used to account for all or most ofa Board's general activities. Governmental Fund Types include: \nGENERAL FUND - the fund used to account for all financial resources of the Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services traditionally provided by a board ofeducation. \nSPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund; however, the Board chooses not to provide for depreciation, but to maintain the fund on a modified accrual basis and to report the fund as a special revenue fund under governmental fund types, which is acceptable under generally accepted accounting principles for governmental entities. \nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. \nACCOUNT GROUP \nGENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for material capital lease obligations. \nBASIS OF ACCOUNTING \nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure ofavailable spendable resources. \n- 7- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS \n \nJUNE 30 1994 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \nGovernmental funds are accounted for using the modified accrual basis of accounting under which: \nRevenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). \"Measurable\" means the amount ofthe transaction can be determined and \"available\" means collectible within the current period or soon enough thereafter to be used to pay liabilities ofthe current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Property taxes are considered available if they are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end. \nExpenditures are generally recognized when the related fund liability is incurred. \nA departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share ofthese contracts. During fiscal year 1994, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1993 and ending in early June 1994. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1993 and ending in August 1994. State grants to fund the State's share of these contracts were disbursed from the Georgia Department ofEducation to the Board in the same twelve months. As ofJune 30, 1994, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1994, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1994. Also, the State's portion of the compensation paid in July and August 1994 was received and recorded as revenue in the fiscal year subsequent to June 30, 1994. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were recorded in the year ended June 30, 1994. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \nBUDGET \nThe Lanier County Board ofEducation has a legally authorized nonappropriated budget which is formally approved by the Board at the aggregate level. Budgets are prepared to provide a basis for funding operations and there is no legal prohibition regarding overexpenditure of the aggregate budget. The budget process begins when the Board'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 ofgeneral circulation in the locality. At 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 ofthe Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. \n- 8- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXIIlBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30 1994 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \n \nThe Board prepares its budget on the modified accrual basis, which is the same basis on which it presents its financial statements. The budget comparison on Exhibit \"C\" presents actual and budget data for all governmental funds on a combined basis. To facilitate comparison with the budget, donated and purchased food inventories as reflected on Exhibit \"B\" have been eliminated from fund balance. \n \nCASH AND CASH EQUIVALENTS \n \nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits (including certificates of deposit and N.O.W. accounts) in authorized financial institutions. Georgia Laws authoriz.e the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement ofproceeds from bond issues in certificates of deposit is limited to financial institutions located within this State. \n \nRECEIVABLES \n \nReceivables consist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \n \nPROPERTY TAXES \n \nThe Lanier County Board ofCommissioners fixed the property tax levy for the 1993 tax year (calendar year) on September 3, 1993 (levy date). Taxes were due on December 20, 1993. The lien date for property taxes was January 1, 1993. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1994 since their collection meets the criteria of GASB codification section P70.103. The Lanier County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection, and remits the balance of taxes collected to the Board. \n \nThe tax millage rate levied for the 1993 tax year (calendar year) for the Lanier County Board ofEducation was as follows (a mill equals $1 per thousand dollars of assessed value): \n \nSchool Operations \n \n14 50 mills \n \n- 9- \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30 1994 \n \nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nINVENTORIES \nFOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost. Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations offund balance which indicates that these amounts do not constitute \"available spendable resources\" even though they are a component of net current assets. \nINTERFUND TRANSACTIONS \nThe Board has the following types ofinterfund transactions: \nReimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. \nOperating transfers are recorded for all interfund transactions other than reimbursements. \nMEMORANDUM ONLY - TOTAL COLUMNS \nTotal columns on the general purpose financial statements are captioned \"Memorandum Only\" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation ofthis data. \nNote 2: DEPOSITS \nCOLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral in an amount of not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \n \n- 10 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEl\\,ffiNTS \n \nJUNE 30 1994 \n \nNote 2: DEPOSITS \nAcceptable security for deposits consists of any one of or any combination ofthe following: \n(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \n(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, \n(4) Bonds, bills, notes, certificates of indebtedness or other obligations ofthe counties or municipalities ofthe State ofGeorgia, \n(5) Bonds ofany public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use ofthe bonds for this purpose, \n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and \n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \nCATEGORIZATION OF DEPOSITS At June 30, 1994, the bank balances were $1,613,490.21. The amounts of the total bank balances are classified into three categories of credit risk: \nCategory l - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \nCategory 3 - U ncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \n \n- 11 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30 1994 \n \nNote 2: DEPOSITS \n \nThe Board's deposits are classified by risk category at June 30, 1994, as follows: \nRisk Category \n1 2 3 \nTotal \nNote 3: NON-MONETARY TRANSACTIONS \n \nBank Balance \n$ 200,000.00 0.00 \n1 413 490.21 \n$ 1 613 490 21 \n \nThe Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \n \nNote 4: RISK MANAGEMENT \n \nThe Board has established a limited risk management program for Unemployment Compensation. Estimated claims are budgeted by management based on known claims and prior experience. No claims were paid during fiscal year 1994. \n \nNote 5: OPERATING LEASES \n \nThe Lanier County Board ofEducation has entered into various leases as lessee for office equipment. These leases are considered for accounting purposes to be operating leases. Lease expenditures for the year ended June 30, 1994, amounted to $13,409.10. Future minimum lease payments for these leases are as follows: \n \nYear Ending \n1995 1996 1997 1998 \nTotal \n \nAmount \n$ 44,364.60 41,274.00 41,274.00 30 955.50 \n$ lSZ 868 JO \n \n- 12 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXIIlBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30 1994 \n \nNote 6: GENERAL LONG-TERM DEBT \n \nCAPITAL LEASES The Lanier County Board ofEducation has entered into a lease agreement as lessee for an energy management system. This lease agreement qualifies as a capital lease for accounting purposes and, therefore, has been \nrecorded at the present value of the future minimum lease payments as of the date of its inception. \n \nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1994, were as follows: \n \nCapital Lease \n \nBalance July 1, 1993 \n \n$ 59,983.92 \n \nAdditions \n \n417,828.51 \n \nDeletions \n \n80 181.94 \n \nBalance June 30, 1994 \n \n$ 397 630 49 \n \nAt June 30, 1994, payments due, by fiscal year which includes principal and interest for these items: \n \nFiscal Year Ended June 30 \n \nCapital Leases \n \n1995 1996 1997 1998 1999 2000 and thereafter \n \n$ 57,008.88 57,008.88 57,008.88 57,008.88 57,008.88 \n247 038.48 \n \nTotal Principal and Interest \n \n$ 532 082.88 \n \nDeduct: Imputed Interest \n \n$ 134 452.39 \n \nNet Present Value ofFuture Minimum Lease Payments \n \n$ 327 63Q 42 \n \n- 13 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXIIlBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE 30 1994 \n \nNote 7: SIGNIFICANT COMMITMENTS \n \nAt June 30, 1994, the Board had encumbrances in the amount of$1,121.00 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with the lottery programs. Lottery funds in the amount ofSl,088.00 are available to fund these encumbrances. Encumbrances outstanding do not constitute expenditures or liabilities in the current year because these commitments will be honored during the subsequent year. These encumbrances are identified by lottery program as follows: \n \nDistant Learning G.P.T.C. Distant Learning \n \n$ 232.00 889.00 \n$ I 12100 \n \nThe amounts described in this note are not reflected in the general purpose financial statements. \n \nNote 8: CONTINGENT LIABILITIES \n \nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \n \nNote 9: RETIREMENT PLANS \n \nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \n \nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS). \n \nTRS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for service retirement after 30 years ofcreditable service, regardless of age, or after IO years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \n \nRetirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, \n \n- 14 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE30 1994 \n \nNote 9: RETIREMENT PLANS \n \nwhichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death. \n \nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest. \n \nThe Board's payroll for employees covered by TRS for the year ended June 30, 1994, was $3,160,493.54, total payroll was $3,541,013.68. \n \nTRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by TRS are required to contribute 6% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees as advised by their independent actuary. For fiscal year 1994 that rate for employer contributions was 11.81%. The interest rate assumption (rate of return on investments) was 7.50%. \n \nTotal contnbutions made during fiscal year 1994 amounted to $562,883.90 ofwhich $373,253.29 was made by the Board and $189,630.61 was made by employees. These contnbutions represented 11.81% (Board) and 6% (employees) of covered payroll. \n \nTRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers. \n \nTotal unfunded pension benefit obligation ofTRS as of June 30, 1993, was as follows: \n \nTotal pension benefit obligation \n \n$13,912,014,000.00 \n \nNet assets available for benefits, at cost \n \n12 821 722 000.00 \n \nUnfunded pension benefit obligation \n \n$ 1 090 292 000 00 \n \n- 15 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXHIBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE30 1994 \n \nNote 9: RETIREMENT PLANS \nThe measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1993. Net assets available to pay pension benefits were valued as ofthe same date. TRS does not make separate measurements ofassets and pension benefit obligation for individual employers. \nTotal contributions from all employers to TRS for fiscal year ended June 30, 1994 were $521,550,000.00. The Board's contribution for the year ended June 30, 1994 of$373,253.29 was actuarially determined and represented .0715% oftotal contributions made by all participating employers. \nTen year historical trend information is presented in the 1994 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due. \nPUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS) \nPSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System ofGeorgia (PSERS). All employer's contributions are made by the State ofGeorgia. \nPSERS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 1Oyears ofservice and attainment of age 65. A member applying for service retirement with 1Oyears of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members ;ire equal to $8.00 per month multiplied by the number of years of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \nRetirement provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years ofcreditable service. Death benefits are dependent upon the number ofyears of service. Ifthere are less than ten years of service, a lump sum refund ofthe employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life half of what the employee would have received upon retirement. \nMembers become fuJly vested after ten years of service. Ifa member terminates with less than ten years of service, no vesting ofemployer contnbutions occurs, but the member's contnbutions are refunded with interest. \nThere were 36 employees covered under PSERS for the year ended June 30, 1994. \n \n- 16 - \n \n LANIER COUNTY BOARD OF EDUCATION \n \nEXIIlBIT \"D\" \n \nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \n \nJUNE30 1994 \n \nNote 9: RETIREMENT PLANS \nPSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contnbution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contnbutions from employees ofthe Board made during fiscal year 1994 amounted to $1,204.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1994, was $9,150,000.00. \nNote 10: SURETY BONDS \nThe School Superintendent, Mr. Raymond Moore, is bonded in the amount of$25,000.00 with the Western Surety Company, Sioux Falls, South Dakota, their Bond No. 68177952, on which premium was paid through July 14, 1994. \n \n- 17 - \n \n Ca\u0026h and Ca\u0026h Equ...- \nAccounts Receivable \nlrwentorie\u0026 Food Donated Commodities Purchaaed Food \n \nLANIER COUNJY BOARD OE EDI )CATION rPMBINING BALANCE SHFcT \nSPECIAL REVENUE FUND \nJUNE:30 1994 \n \nELEMENTARY \n \nSCHOOL FOOD \nSERVICES FUND \n \nSTATE PRESCHOOL HANDICAPPED \nPROGRAM \n \nLOTTERY PROGRAMS \n \nDRUG-FREE SCHOOLS AND COMMUNITTES \nACT \n \nCHAPTER1 EDUCATION OF \nDEPRNED CHILDREN \n \n$ 175,no.eo s \n \n0.00 \n \n$ \n \n0.00 \n \n5,965.45 \n \n$ 102,707.00 \n \n$ \n \n122,347.83 \n \n6,537.58 3,200.53 \n \nTotalAaels \n \n$ 191,424.36 $ \n \n0.00 $ 102,707.00 $ \n \n0.00 $ \n \n122,347.83 \n \nLIABILmEs AND FUND EQUITY \n~ \nCa\u0026h OYerdrafl Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue \nTotal Liabillties \nFUNPEQUJTY \nFund Balances Reserved For Continuation of Federal Program For Inventories Food \nu-Donated Commodities Purchaaed Food \nU~nated \nTotal Fund Equity \n \n$ 7,627.78 27,576.32 \n$ 35,204.10 \n \n$ 25,286.73 76,564.27 \n856.00 $ 102,707.00 \n \n$ \n \n77,813.08 \n \n9,899.54 \n \n34,590.98 \n \n44.23 \n \n$ _ _1c.:22:,,cc.34'-'7.:.:.83~ \n \n6,537.58 3,200.53 \n$ 9,738.11 146,482.15 s _ _ _ _o._oo_s _ _ _o_.oo_s _ _ _ _o_.oo_s _ _ _ _o_.oo_ \ns 156,220.26 s _ _ _..c.occoo.c..s _ _---=o.:.:.oo~s _ _ _~o.:.:.oo~s------=o.:.:.oo~ \n \nTotal Liabilities and Fund Equity \n \n$ 191.424.36 s _ _ _..ao;;a.00;.;.$ 102,707.00$ \n \no.oo s _ _-\"122=,34=7;;;;83;;. \n \nSee notes to the general purpose financial statements. \n \n-18- \n \n EXHIBIT\"E\" \n \nAND SECONDARY EDUCATION ACT TITLE II - \nEISENHOWER CHAPTER2 MATHEMATICS MIGRANT BLOCK GRANT - AND SCIENCE PROGRAM FLOW THROUGH EDUCATION \n \nINDIVIDUALS WITH \n \nDISABILmES EDUCATION ACT \n \nmLEVl,B \n \nFLOW \n \nPRESCHOOL \n \nTHROUGH \n \nPROGRAM \n \n$ \n \n887.29 $ \n \n1,102.94 $ 1,834.99$ \n \n5,497.46 \n \nHIGH RISK YOUTH \nPROGRAM \n \nTOTALS JUNE 30, 1994 JUNE 301 1993 \n \n$ 185,043.48 $ 128,176.41 \n \n958.31 \n \n1,000.00$ \n \n4,111.00 $ \n \n840.77 \n \n237,930.36 \n \n123,888.75 \n \n6,537.58 3,200.53 \n \n7,425.19 2,639.n \n \n$ 1,845.60 $ \n \n1,102.94 $ 1,834.99 $ \n \n6,497.46 $ \n \n4,111.00$ \n \n840.77 $ 432,711.95 $ 262,130.07 \n \n$ \n \n540.68 $ \n \n1,304.92 \n \n1,102.94 \n \n$ 1,845.60$ \n \n1,102.94 \n \n$ \n \n3,980.99$ \n \n840.77 $ 107,921.57 \n \n$ \n \n1,087.27 \n \n96,822.48$ \n \n32,257.02 \n \n4,237.28 \n \n67,709.50 \n \n62,870.41 \n \n1,1n.01 \n \n130.01 \n \n1,347.15 \n \n3,537.04 \n \n856.00 \n \n$ \n \n6,497.46 $ \n \n4,111.00$ \n \n840.77 $ 274,656.70 $ \n \n98,684.47 \n \n$ \n \n0.00 S \n \n$ \n \n0.00 $ \n \ns 1,834.99 \n \n$ 0.00 0.00 $ \n \n1,834.99 0.00 $ \n1,834.99 $ \n \n0.00 $ 0.00 $ \n \n0.00 $ 0.00 $ \n \n$ \n \n1,834.99 \n \n$ 0.00 0.00 $ \n \n6,537.58$ 3,200.53 \n11,573.10 $ \n146,482.15 \n158,055.25 $ \n \n7,425.19 2,639.n 10,064.91 153,400.69 \n163465.60 \n \n$ 1,845.60$ \n \n1,102.94 $ 1,834.99$ \n \n6,497.46$ \n \n4,111.00$ \n \n840.77 $ 432,711.95 $ 262,130.07 \n \n-19- \n \n LANlfB CQ!.U~IY aQABQ QE EQUQAIIQN CQMalHIN~ ~EMfNI QE BE~Et:IUE EiefNQIIllBE AND ta:li!ili~E IN EUNQ BAI ANQE \nPEQIAL BE~EN!.!E E!.!HQ YEAR fNPEP JUNE 30 1994 \n \n~ \nS-F..F-..1 Funds Loeal and Other Funds \nTotal Revenues \nF;XPENQITURES \nCurrent lnslnlc:tion Support Services Pupil Services Improvement d Instructional Services Educational Media Services General Administration Maintenance and Operation d Plant Student Transportation Services Cantral Support Services Other Support Services Food Services 0paration Capital Outlay \nTolal Expandilures \nExcess d Revenues over (uncle!) Expenditures \nQI!::lfB EINANQIN~ QUBQE~ {UEl \nOperating Transfers In \n \nSCHOOL FOOD \nSERVICES FUND \n \nELEMENTARY \n \nSTATE PRESCHOOL HANDICAPPED \nPROGRAM \n \nLOTTERY PROGRAMS \n \nDRUG-FREE SCHOOLS AND COMMUNITIES \nACT \n \nCHAPTER 1 EDUCATION OF \nDEPRIVED CHILDREN \n \n$ 29,718.00 $ 347.769.85 108,086.10 \n485,573.95 $ \n \n9,580.00 $ 224,337.74 $ \n9,580.00 $ 224,337.74 $ \n \n14,940.00 $ 14,940.00 $ \n \n301,863.60 301,863.60 \n \n492,492.49 \n$ 492,492.49 $ $ -6,918.54 $ \n \n9,580.00 $ 96,630.45 $ \n \n12,483.40 2,471.82 32,932.00 \n \n75,582.12 937.72 \n \n160.00 \n \n3,600.00 \n \n9,580.00 $ 224,797.51 $ \n \n0.00 $ \n \n-459.n $ \n \n10,463.39 $ 1,548.62 1,525.31 \n13.23 \n1,389.45 \n14,940.00 $ 0.00 $ \n \n197,493.83 1,027.10 \n45,584.48 \n57,758.21 \n301,863.60 0.00 \n \n459.n \n \nExcess d Revenues and Other Financing Sources \n \novar (Wider) Expandilures and Other Financing Uses \n \n-6,918.54 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 \n \nFUND BAlANQE JULY 1 \n \n163,\"465.60 \n \n0.00 \n \n0.00 \n \n0.00 \n \n0.00 \n \nFood Inventory- Net Change in Pariod Donated Commodities Purchased Food \n \n-687.61 560.81 \n \nE~INP Bal AHQf JUN!; 30 \n \n$ 156,220.26 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 \n \nSee notes to the general purpose financial statements. \n \n-20- \n \n EXHIBIT\"P \n \nAND SECONDARY EDUCATION ACT TITLEII \nEISENHOWER CHAPTER2 MATHEMATICS MIGRANT BLOCK GRANT  AND SCIENCE PROGRAM FLOW THROUGH EDUCATION \n \nINDIVIDUALS WITH \n \nDISABILITIES EDUCATION ACT \n \nTITLE VI, B \n \nFLOW \n \nPRESCHOOL \n \nTHROUGH \n \nPROGRAM \n \nHIGH RISK YOUTH \nPROGRAM \n \nTOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993 \n \n10,944.40 $ 10,944.40 $ \n \n11,512.00 $ 11,512.00 $ \n \n8,021.49 $ \n \n40,768.09 $ \n \n8,021.49 $ \n \n40,768.09 $ \n \n4,928.99 $ 4,928.99 $ \n \n$ 3,305.67 \n3,305.67 $ \n \n263,635.74 $ 744,054.09 108,086.10 \n1,115,775.93 $ \n \n38,052.00 816,263.72 101,040.66 \n955,356.38 \n \n10,944.40 \n10944.40 $ 0.00 $ \n \n$ 11,484.42 \n27.58 \n11,512.00 $ 0.00 $ \n \n$ 6,186.50 \n \n26,491.51 $ \n183.80 11,487.53 \n1,283.49 1,324.03 \n \n6,186.50 $ 1,834.99 $ \n \n40,770.36 $ -2.27 $ \n \n1,359.94 $ 557.05 \n3,012.00 \n4,928.99 $ 0.00 $ \n \n3,305.67 $ \n3,305.67 $ 0.00 $ \n \n356,269.19 $ \n14,m.87 22,698.26 44,416.42 49,920.76 75,582.12 \n2,261.75 \n59,307.66 492,492.48 \n3,600.00 \n1,121,321.52 $ \n-5,545.59 $ \n \n368,612.63 \n4,702.87 29,420.60 12,475.92 40,962.89 \n1,253.08 35,375.18 \n435,033.39 \n927,836.56 \n27,519.82 \n \n2.27 \n \n462.04 \n \n$ \n \n0.00 $ \n \n0.00 \n \n0.00 $ 0.00 \n \n1,834.99 $ 0.00 \n \n0.00 $ 0.00 \n \n0.00 $ 0.00 \n \n0.00 $ 0.00 \n \n-5,083.55 $ 163,465.60 \n \n27,519.82 136,389.55 \n \n-887.81 560.81 \n \n1,843.95 1,200.18 \n \n$ \n \n0.00 $ \n \n0.00 $ \n \n1,834.99 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n158,055.25 $ \n \n163,465.80 \n \n-21  \n \n ~ Cash and Cash Equivalents Accounts Receivable \nTotal Assets \n \n~Nl~R QQUlfiY ~RP QF l;P!JQATIQH \nQQMlilH.m.'IG Ml atiQI; Sl:tEl;I i;AP!IAL el!QJE!::Il! EU~Cl JUHi; 30 1994 \n \nEXHIBIT\"G\" \n \nREGULAR \n \nGEORGIA STATE FINANCING AND \nINVESTMENT COMMISSION \nPROJECT 93/94-686-051 \n \nGOVERNOR'S EMERGENCY \nFUND \n \nTOTALS \n \nJUNE30 1994 \n \nJUNE30 1893 \n \n0.00 $ \n \n81,458.87 \n \n81,458.87 $ \n \n59,183.29 \n \n2 000.00 \n \n2 000.00 \n \n328022.97 \n \n0.00 $ \n \n81458.87 $ \n \n2 000.00 $ \n \n83458.87 $ \n \n387206.26 \n \nLIA!!ILITl~S ANt;! FUNQ ~QUITY \n~ \nCash Ovelratl Contracts Payable Retainages Payable \nTotal Liabilities \nfUNPEQUITY \nFund Balances ROMMld For Encumbrances - Gowmor's Emergency Funds For State Capital Outlay Projects \n \nUnrOMMld Undesignated \n \nTotal Fund Equity \n \n$ \n \nTotal Liabilities and Fund Equity \n \n$ 81,458.87 \n \n2,000.00 $ \n \n2,000.00 81,458.87 $ \n \n295,800.67 32 222.30 \n \n$ \n \n81458.87 $ \n \n2 000.00 $ \n \n83458.87 $ \n \n328022.97 \n \n0.00 $ 0.00 $ \n \n0.00 $ 0.00 $ \n \n0.00 $ 0.00 $ \n \n$ $ 0.00 0.00 $ \n \n20,000.00 39183.29 59,183.29 \n0.00 59183.29 \n \n0.00 $ \n \n81458.87 $ \n \n2,000.00 $ \n \n83458.87 $ \n \n387206.26 \n \nSeo notes to the general purpose financial statements. \n \n-22  \n \n LANIER COlJNJY eoeo 9f EQUCATION \nCQMHINING SJmMf;NT OF Bl=Yl=NYsS exeeNPffiJBf'.S ANP CHANGf=S IN FUND RAIANCfS \nCAPITAL PROJECTS FUND YEAR ENDED JUNE 30 1994 \n \nEXHIBIT\"H\" \n \n~ \nS-Funds Local and other Funds \nTolal Revenues \nEXPENDITURES \nCapital_Outlay Professional and Tec:1,-1 Se\u003cvicas Land and Land Improvements Building and Building Improvements Equipment \nTolal E,cpenditures \nExcess of Revenues owr (under) E,cpenditures \nQTHER FINANCIN!a 2!.!RCE (l.!SEl \nOperating Transfers In Operating Transfers Out \nTolal other Financing Sources (Uses) \nExcess cl Revenues and Olher F\"mancing Sources \"\"\"(under) E,cpendilures and other Financing Uses \nFUND BALANCE JULY 1 \n \nREGULAR \n \nGEORGIA STATE FINANCING AND \nINVESTMENT COMMISSION \nPROJECT ~1 \n \nGOVERNOR'S EMERGENCY \nFUND(1l \n \nTOTALS YEAR ENDED JUNE30 1994 JUNE30 1993 \n \n16,1-40.33 $ 161-40.33 $ \n \n1.~.866.03 $ 1~866.03 $ \n \n20,000.00 $ 1,071,006.36 $ \n \n65000.00 \n \n65000.00 \n \n85000.00 $ 1136006.36 $ \n \n348,022.97 348022.97 \n \n$ 57,780.50 \n57780.50 $ -416-40.17 $ \n \n16,370.01 $ 1,243,872.49 \n1 260.;142.50 $ -225 374.47 $ \n \n2,000.00 $ \n209,038.52 16133.98 \n \n18,370.01 $ 57,780.50 1,452,911.01 16133.98 \n \n227172.51 $ 1 545 185.51 $ \n \n-142172.51 $ -409187.15 $ \n \n80,078.57 322,222.96 \n-402 302.53 -54.;!78.56 \n \n41,6-40.17 $ 41 6-40.17 $ \n0.00 $ 0.00 \n \n186,191.18 $ 186181.18 $ \n \n122,172.51 $ 350,003.86 $ 122172.51 $ 350003.86 $ \n \n110,000.00 -35000.00 \n75000.00 \n \n-39,18329 $ 39183.29 \n \n-20,000.00 $ 20000.00 \n \n-58,18329 $ 5918329 \n \n20,720.44 38462.85 \n \nFUND BALANCE JUNE 30 \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n0.00 $ \n \n5918329 \n \n(1) The purpose cl these funds is 110 c:onstruct an administrative office complex. \n \nSee no1as to the IIO\"\"\"'I purposefinanc:ial sta1amenls. \n \n.23. \n \n LA~IEB ~QUfilY BQABC QE ECU~AIIQ~ S~J::tECULE QE EECEBAL El~A~~IAL ASSISIA~~E \nYEAR ENPEP JUNE 30 1994 \n \nSCHEDULE 1 \n \nFUNDING AGENCY PROGRAM/GRANT \n \nCFDA NUMBER \n \nAWARDS IN PERIOD \n \nFEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) \n \nFEDERAL REVENUE IN PERIOD \n \nEXPENDITURES IN PERIOD \n \nAgriculture, U. S. Department of Through Coastal Plains Economic Opportunity Authority, Incorporated Child and Adult care Food Program 1993 Contract 1994 Contract Through Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1993 Grant 1994Grant National School Lunch Program 1993 Grant 1994Grant Food Distribution Program (1) \n \n10.558 10.558 $ \n \n$ 14,631.20 \n \n10.553 10.553 \n10.555 10.555 10.550 \n \n74,214.90 \n222,611.55 36312.20 \n \n931.60 \n \n14,631.20 $ \n \n14,631.20 \n \n(2) \n \n14,696.06 72,832.34 \n27,550.18 218,028.66 N/A \n \n74,214.90 \n \n(2) \n \n222,611.55 $ 36312.20 \n \n456,180.29 (3) 36312.20 \n \nTotal u. s. Department of Agriculture \n \n$ 347769.85 $ \n \n348670.04 $ 347769.85 $ \n \n492492.49 \n \nEducation, U. S. Department of Direct P. L.81-874 1994Grant Through Berrien County Board of Education d/bla Southern Pine Migrant Education Agency Elementary and Secondary Education Act Chapter 1 Migratory Education Program 1993 Regular 1994 Regular Through Georgia Department of Education Drug-Frae Schools and Communities Act 1993 Grant 1994Grant Elementary and Secondary Education Act Chapter 1 Education of Deprived Children 1993 Regular \n1993 c:arry.o- \n1994 Regular Chapler2 \nBlock Grant - Flow Through 1994 Regular \nTlllell \nE - Mathematics and Science Education 1993 Regular 1993 carry-Over 1994 Regular \nIndividuals with Disabilities Education Act TllleVl,B Flow Through 1993Regular 1993 carry-ever 1994 Regular Preschool Program 1993 Regular 1993 carry-0ver 1994 Regular \n \n84.041 $ \n84.011 84.011 \n84.186 84.186 \n84.010 84.010 84.010 \n84.151 \n84.164 84.164 84.164 \n84.027 84.027 84.027 84.173 84.173 84.173 \n \n1,872.00 $ \n11,000.00 14,940.00 \n29,106.00 313,735.00 \n11,512.00 \n7,000.00 \n19,733.00 23,146.00 \n4,834.00 723.00 \n \n1,872.00 $ \n \n1,872.00 \n \n(4) \n \n-1.04 9,986.09 \n9,736.00 14,940.00 \n \n10,944.40 $ \n \n10,944.40 \n \n14,940.00 \n \n14,940.00 \n \n60,163.13 15,000.00 164,560.00 \n11,512.00 \n \n29,106.00 272,757.60 \n11,512.00 \n \n29,106.00 272,757.60 \n11,512.00 \n \n7,461.00 7,000.00 \n \n1,021.49 7,000.00 \n \n1,021.49 5,185.01 \n \n4,214.29 19,733.00 21,208.00 \n-3,381.06 723.00 225.00 \n \n19,733.00 21,035.09 \n4,834.00 94.99 \n \n19,733.00 21,037.36 (3) \n4,834.00 94.99 \n \n- 24 - \n \n LANIER COUNJY ROARP QF EDUCATION \nSCHEDULE OF FEDERAL FINANCIAL ASSISTANCE YEAR ENDED JUNE 30 1994 \n \nSCHEDULE \"1\" \n \nFUNDING AGENCY PROGRAM/GRANT \n \nCFDA NUMBER \n \nAWARDS IN PERIOD \n \nFEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) \n \nFEDERAL REVENUE IN PERIOD \n \nEXPENDITURES IN PERIOD \n \nEducation, U.S. Depa- of Through Georgia Depa- of Education Vocational Education  Ba\u0026lc Grants to States High School Program Ba\u0026lc Grant \n1993Grant \n1994Grant Through Lowndes County Board of Health \nDrug  Fn,e Schools nd Communllie\u0026 Aet High Risk Youth Program \n1994 Regular \n \n84.048 84.048 $ \n84.186 \n \n$ 16,219.00 \n3489.30 \n \n3,507.31 \n \n$ \n \n16,219.00 \n \n(4) \n \n2464.90 \n \n3305.67 $ \n \n3305.67 \n \nTotal U.S. Depa- of Education \n \n$ 457309.30 $ \n \n350925.62 $ 414375.24 $ \n \n394451.52 \n \nTotal Federal F - I Assistance \n \n$ 805079.15 $ \n \n699595.66 $ 762145.09 $ \n \nThe major program is identified by an asterisk (') in front of the CFDA number. \n \n(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary \nassistance for donated commodities received and/or consumed by the system during the current fiscal year. \n(2) Expendituras for this Program were net maintained separately and are included in the 1994 \nNational School Lunch Program. \n(3) Expenditures for this program include State, and/or Local and Other Funds. ~ r e s are net mainlained by fund source. \n(4) Expenditures on this program were net maintained by fund source. \n \n886944.01 \n \nSee notes to the general purpose financial statements. \n \n 25. \n \n LANIER COUNTY BOARD OF EDUCATION ANALYSIS OF CASH AND CASH EQUIVALENTS \nJUNE 30 1994 \n \nSCHEDULE \"2\" \n \nNONINTEREST BEARING ACCOUNTS \nFarmers and Merchants Bank, Lakeland, Georgia \n \n$ \n \n3,462.85 \n \nINTEREST BEARING ACCOUNTS \nFarmers and Merchants Bank, Lakeland, Georgia \nCertificates of Deposit No. 15449 (6.80%) No. 15562 (6.80%) No. 15761 (3.30%) \nN.O.W. Accounts (3.50%) \n \n$ 603,250.00 31,750.00 \n100,000.00 526,191.92 \n \n1,261,191.92 \n \n$ 1,264,654.77 \n \nSee notes to the general purpose financial statements. - 26 - \n \n LANIER COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30 1994 \n \nSCHEDULE \"3\" \n \nBerrien County Board of Education d/b/a Southern Pine Migrant Education Agency ESEA - Chapter 1 Migratory Education Program \nCommunity Affairs, Georgia Department of Local Assistance Grant \nEducation, Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education Federal Funds Lottery Programs Computers in Classrooms Distant Leaming Media Center and Library Equipment Safe Schools Grant Federal Programs ESEA - Chapter 1 Education of Deprived Children IDEA- Title Vl,B Flow Through Preschool Program Contract Student Information Systems Project \nLanier County Tax Commissioner County Wide School Tax \nLowndes County Board of Education Gasoline Purchase \nLowndes County Board of Health High Risk Youth Program \nVarious Sources Credit Memos Interest Earned \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nCAPITAL \n \nGENERAL REVENUE PROJECTS \n \nFUND \n \nFUND \n \nFUND \n \nTOTAL \n \n$ \n \n958.31 \n \n$ \n \n958.31 \n \n$ 2,000.00 \n \n2,000.00 \n \n$ 16,219.00 \n \n1,382.56 4,582.89 \n43,884.00 2,768.00 \n35,000.00 21,055.00 \n \n1,000.00 \n \n122,347.83 \n1,000.00 4,111.00 \n \n1,903.88 \n \n26.17 \n \n840.77 \n \n467.15 20,656.00 \n \n1,382.56 4,582.89 16,219.00 43,884.00 2,768.00 35,000.00 21,055.00 \n122,347.83 1,000.00 4,111.00 1,000.00 \n1,903.88 \n26.17 \n840.77 \n467.15 20,656.00 \n \n$ 40,272.20 $ 237,930.36 $ 2,000.00 $ 280,202.56 \nSee notes to the general purpose financial statements. - 27 - \n \n LANIER COUNTY BOARD Of EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 3Q 1994 \n \nSCHEDULE 4 \n \nAGENCY/FUNDING \nGRANT Community Affairs, Georgia Department of Local Assistance Grant \nEducation, Georgia Department of Quality Basic Education General and CarNr Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Sparsity Grant Middle School lncen!Ne Special Instructional A-nee In-School Suspension Mid-term Adjustment Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education other State Programs Innovative Programs Preschool Handicapped Program Supervision and Assessment of Student and Beginning Teachers and PerfonnanceBased Certification Teachers' Retirement Lottery Programs Algebra Classrooms Computers in Classrooms Di\u0026tant Leaming Media Center and Lllnry Equipment Pre-Kindergarten Program Safe Schools Grant \nFinancing and Investment Commission, Georgia State Reimbursement on Construction Projects \nGeorgia Public Telecommunication Commission Lottery Program Di\u0026tant Leaming \nCONTRACTS Education, Georgia Department of Implementation of student Information Systems Project \nTransportation, Georgia Department of Through City of Lakeland Paving Contract \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nCAPITAL \n \nGENERAL \n \nREVENUE \n \nPROJECTS \n \nFUND \n \nFUND \n \nFUND \n \nTOTAL \n \n$ \n \n20,000.00 $ \n \n20,000.00 \n \n$ 2,078,759.00 1B8,711.00 82,350.00 89,125.00 29,218.00 626,293.00 \n130,980.00 37,071.00 81,331.00 84,186.00 \n150,712.00 62,649.00 70,609.00 \n-249,522.00 365,731.00 \n$ 180,124.00 \n4,800.00 \n \n29,718.00 9,580.00 \n \n750.00 6,651.22 \n \n2,316.00 53,000.00 \n2,768.00 35,000.00 101,584.74 21,055.00 \n \n2,078,759.00 1B8,711.00 82,350.00 89,125.00 29,218.00 626,293.00 \n130,980.00 37,071.00 81,331.00 84,186.00 150,712.00 62,649.00 70,609.00 -249,522.00 365,731.00 29,718.00 180,124.00 \n4,800.00 9,580.00 \n750.00 6,651.22 \n2,316.00 53,000.00 \n2,768.00 35,000.00 101,584.74 21,055.00 \n \n1,034,868.03 1,034,868.03 \n \n8,614.00 \n \n8,614.00 \n \n1,000.00 \n \n1,000.00 \n \n16140.33 \n \n16140.33 \n \nSae notes to the general purpose financial statements. \n \n$ 4 001 528.22 $ 263635.74 $ 1 071 008.36 $ 5336172.32 - 28 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE \nYEAR ENDED JUNE 30 1994 \n \nSCHEDULE 5 \n \nGOVERNMENTAL FUND TYPES \n \nSPECIAL \n \nCAPITAL \n \nGENERAL REVENUE PROJECTS \n \nFUND \n \nFUND \n \nFUND \n \nTOTAL \n \nTaxes County Wide School Tax Railroad Car Tax Real Estate Transfer Tax \n \n$ 808,516.07 35.35 \n1,963.74 \n \n$ 808,516.07 35.35 \n1,963.74 \n \nOther Canning Plant Operations Compensation for Loss of Assets Donations Indirect Cost Special Revenue Furid Interest Earned Legal Settlement Slate of Georgia vs. Dairymen, Inc., el al. Revenue in Lieu of Taxes Timber Proceeds Furids Royalties Lease of School Radio Frequencies Sales Meals School Assets Other \n \n2,946.00 9,421.60 $ \n300.00 \n \n700.00 \n \n4,196.00 68,941.35 \n \n5,833.09 \n \n409.78 \n \n3,525.48 \n \n10,000.00 \n \n1,082.69 \n \n101,068.23 $ \n75.00 \n \n65,000.00 \n \n2,946.00 10,121.60 \n300.00 \n4,196.00 74,774.44 \n409.78 \n3,525.48 \n10,000.00 \n101,068.23 65,000.00 1,157.69 \n \n$ 910,928.28 $ 108,086.10 $ 65,000.00 $ 1,084,014.38 \n \nSee notes to the general purpose financial statements. - 29 - \n \n  bt,NIER COU!'.ITJ'. BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \nGOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30 1994 \n \nSCHEDULE \"6\" \n \nEXPENDITURES \nOperating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Compensation of Board Members Water, Sewer and Cleaning Services Repair and Maintenance Services Rents Insurance Communications Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Interest Expense Federal Indirect Costs Other Expenditures \nNonoperating Costs Principal and Interest Land and Land Improvements Equipment \nTotal Expenditures \n \nGENERAL FUND \n \nSPECIAL REVENUE \nFUND \n \nTOTAL \n \n$ 3,069,332.33 $ 855,731.30 17,486.71 10,415.76 3,150.00 9,548.46 44,784.49 2,951.21 17,565.50 25,275.22 \n10,346.70 4,432.30 \n203,464.63 167,704.62 \n62,558.44 10,011.93 36,855.16 \n4,858.81 \n \n471,681.35 $ 129,731.44 \n7,110.81 5,532.05 \n360.00 69,849.00 \n7,047.59 2,545.07 \n1,220.00 76,671.24 \n2,587.43 230,307.00 \n346.18 5,221.45 \n4,196.00 3,020.62 \n \n3,541,013.68 985,462.74 24,597.52 15,947.81 3,150.00 9,908.46 114,633.49 2,951.21 17,565.50 32,322.81 2,545.07 10,346.70 5,652.30 280,135.87 170,292.05 230,307.00 62,904.62 15,233.38 36,855.16 4,196.00 7,879.43 \n \n38,005.92 717,689.12 \n \n3,600.00 100,294.29 \n \n38,005.92 3,600.00 \n817,983.41 \n \n$ 5,312,168.61 $ 1,121,321.52 $ 6,433,490.13 \n \nSee notes to the general purpose financial statements. - 31 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \nLOTTERY PROGRAMS YEAR ENDED JUNE 30 1994 \n \nEXPENDITURES \nOperating Costs Salaries Employee Benefits Travel of Employees Repair and Maintenance Services Other Purchased Services Supplies Energy Dues and Fees Other Expenditures \nNonoperating Costs Land and Land Improvements Equipment \nTotal Expenditures \n \nALGEBRA CLASSROOMS \n \nCOMPUTERS IN \nCLASSROOMS \n \nDISTANT LEARNING \n \n$ \n \n40,912.85 $ \n \n1,050.00 \n \n$ \n \n2,413.65 \n \n1,718.00 \n \n12,285.00 \n \n$ \n \n2,413.65 $ \n \n53,197.85 $ \n \n2,768.00 \n \nSee notes to the general purpose financial statements. - 32 - \n \n SCHEDULE \"7\" \n \nMEDIA CENTER \n \nAND \n \nLIBRARY PRE-KINDERGARTEN \n \nEQUIPMENT \n \nPROGRAM \n \nSAFE SCHOOLS \nGRANT \n \nG.P.T.C. DISTANT LEARNING \n \nTOTAL \n \n$ \n \n$ \n \n13,539.69 \n \n21,550.00 \n \n$ \n \n35,089.69 $ \n \n42,709.87 14,552.10 2,280.91 \n315.00 17,407.30 \n279.53 390.00 541.03 \n3,600.00 19,509.00 $ \n \n$ 21,129.58 \n \n$ \n265.00 8,349.00 \n \n42,709.87 14,552.10 2,280.91 55,767.54 \n315.00 29,887.95 \n279.53 390.00 541.03 \n3,600.00 74,473.58 \n \n101 584.74 $ \n \n21,129.58 $ \n \n8 614.00 $ 224,797.51 \n \n- 33 - \n \n  LANIER COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30 1994 \n \nSCHEDULE \"8\" \n \nMinimum Expenditure Requirements (Total Allotment) \nExpenditures on Combined Program Basis Salaries Operations \nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment Expenditures for Staff Development Programs in Excess of Total Staff Development Allotment for: Cost of Instruction \nExpenditures per Audit \nAmount of Underexpenditure for Total Allotment \n \nTHIRTEEN WEIGHTED AND MEDIA CENTER \nPROGRAMS \n \nSTAFF DEVELOPMENT \nPROGRAM \n \n$ 2,502,357.00 $ \n \n29,218.00 \n \n$ 2,477,110.26 198,493.40 $ \n$ 2,675,603.66 $ \n \n32,103.75 32,103.75 \n \n-14,152.39 \n \n$ 2,661,451.27 $ \n \n-2,885.75 29,218.00 \n \n$ \n \n0.00 $ \n \n0.00 \n \nSee notes to the general purpose financial statements. - 35 - \n \n l..ANlEB CD.JNTV BOARD Of EQLJPADQN ANALVSIS OF MINN M FXPsNQITURe BEOUIBEMfNTS - BY PBOGBAM \n91=NRAL FUNP - QUAYIY BASIC SQUQAJIQN PR99BAM$ VEAR ENOEP JUNf; 30 1994 \n \n~~N!;B\u0026, AN~ CARl;~R I ; ~ ~ ffiOGRAMS IOndorgarten (j Grades 1  3 (j Sub-Tolal  K-3 Grades 4  5 (j Grades 6  8 (j Grades 9 -12 (j High School Laboratories (j Vocational Education Laboratories (j Tolal General and Career Education Programs \nSel:~1\u0026 e ~ ffiQG~ \nRegular Programs Category II (j Category Ill (j Itinerant Supplemental Speech SulrTotal-RegW8r CategoryV(Gffted)(j Total Special Education Programs \nBEMeQW e~IIQtf PBQgB.!M 0 \nMEQIA CENTER PROGRAMS \nTotal Thirteen Weighted and Media Center \n~TAFF lllal1!;LOPMENT PRQ!l;~ (1) \nc..t d Instruction \nProlossianal Dawlopment \nTalal staff DeYelopment \n(\") ktentif Thirteen Weighted Programs. , _ , (1) $2,144.00 d the allotment for Prolossianal \nDawlopment ha been lnmaferrod lo c..t d \nInstruction as authorized by' 0CGA 20-2-182. See notes to the general purpoae financial statements. \n \nALLOTMENTS FROM DEPARTMENT OF EDUCATION \n \nREQUIRED \n \nTOTAL \n \nORIGINAL _..!,_ \n \nORIGINAL \n \nMID-TERM \n \nREQUIRED \n \n199,385.00 559,724.00 759,109.00 90 280,182.00 90 471,781.00 90 258,936.00 90 131,722.00 90 177,029.00 90 2,078,759.00 \n \n179,446.50 503,751.60 683,198.10 $ 252,163.80 424,602.90 233,042,40 118,549.80 159,326.10 1,870,883.10 \n \n0.00 $ \n0.00 $ \n27,000.00 \n14,000.00 20,690.00 61,690.00 \n \n179,446.50 503,751.60 683,198.10 252,163.60 451,602.90 233,042.40 132,549.80 180,016.10 1,932,573.10 \n \n180,652.00 \n \n162,586.80 $ \n \n0.00 $ \n \n162,586.80 \n \n180,652.00 90 8,059.00 90 \n186,711.00 82,350.00 90 89,125.00 90 \n \n162,586.80 7,253.10 \n169,839.90 74,115.00 80,212.50 \n \n0.00 1,161.00 1,161.00 $ \n0.00 561.00 $ \n \n162,586.80 8,414.10 \n171,000.90 74,115.00 \nao,m.so \n \n2,438,945.00 \n \n2,195,050.50 $ \n \n63,412.00 $ 2,258,462.50 \n \n8,722.00 100 20,496.00 100 \n \n8,722.00 20,496.00 \n \n0.00 $ \n \n8,722.00 20,496.00 \n \n29,218.00 \n \n29,218.00 $ \n \n0.00 $ \n \n29,218.00 \n \n2,468,163.00 \n \n2,224,268.50 $ \n \n63,412.00 $ 2,287,680.50 \n \n 36. \n \n SCHEOULEV \n \nREQUIRED ALLOTMENT \n \nSALARIES ACTUAL \n \nDISTRIBUTION BY RESPECTIVE PORTIONS \n \n-=\u003eUNTOF UNOEREXPENDITURE \nFOR REQUIRED ALLOTMENT \n \nREQUIRED ALLOTMENT \n \nOPERATIONS ACTUAi. \n \n-=\u003eUNTOF UNDEREXPENDITURE \nFOR REQUIRED ALLOTMENT \n \n114,n1.so \n \n11s,m.os \n \n .ns.oo \n \n6,579.33 \n \n487,647.90 \n \n573,859.08 \n \n16,103.70 \n \n20,338.73 \n \n662,369.40 \n \n752,631.14 $- \n \n0.00 \n \n20,828.70 \n \n26,918.06 \n \n0.00 \n \n244,261.80 \n \n294,810.23 \n \n0.00 \n \n7,902.00 \n \n14,017.08 \n \n0.00 \n \n431,718.50 \n \n477,258.04 \n \n0.00 \n \n19,884.40 \n \n27,766.14 \n \n0.00 \n \n222,543.00 \n \n253,766.95 \n \n0.00 \n \n10,489.40 \n \n34,314.56 \n \n0.00 \n \n123,229.90 \n \n126,391.54 \n \n0.00 \n \n9,319.90 \n \n11,420.68 \n \n0.00 \n \n158,206.70 \n \n191,273.09 \n \n0.00 \n \n21,809.40 \n \n56,947.21 \n \n0.00 \n \n1,842,329.30 \n \n2,096,130.99 \n \n0.00 \n \n90,243.80 \n \n171,383.73 \n \n0.00 \n \n66,058.30 90,215.10 \n1,125.90 2,251.80 \n \n93,079.88 112,125.04 \n \n1,423.80 2,511.90 \n \n4,374.30 286.74 \n \n158,661.10 \n \n205,204.112 \n \n0.00 \n \n3,935.70 \n \n4,661.04 \n \n0.00 \n \n8,208.90 \n \n9,752.78 \n \n0.00 \n \n205.20 \n \n1,076.58 \n \n0.00 \n \n166,860.00 \n \n214,957.70 \n \n4,140.90 \n \n5,737.62 \n \nn.800.10 \n \n81,829.37 \n \n0.00 \n \n1,314.90 \n \n1,925.66 \n \n0.00 \n \n62,224.50 \n \n84,392.20 \n \n0.00 \n \n18,549.00 \n \n19,446.19 \n \n0.00 \n \n2,144,213.90 $ 2,477,110.211 $ \n \n0.00 \n \n114,248.60 $ \n \n198,493.40 $ \n \n0.00 \n \n2,144,213.90 $ 2,11.110.211 $ _ _ _ _....o_.oo_ \n \ns,m.oo \n \n11,607.75 \n \n0.00 \n \n0.00 \n \n29,218.00 $ \n \n32,103.75 $ _ _ _ _....o_.oo_ \n \n143,466.60 $ \n \n230,597.is $ _ _ _ _....o_.oo_ \n \n- 37 - \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION OF BOARD MEMBERS \nYEAR ENDED JUNE 30 1994 \n \nSCHEDULE \"10\" \n \nBOARD MEMBER ADDRESS \nMr. William L. Lee, Chairman {\") Route 1 Box 3A Lakeland, Georgia 31635 \nMr. Jimmy V. Benefield {\") 125 Miller Street Lakeland, Georgia 31635 \nr\u003e Mrs. Johnnie M. Moulton \n1062 Bostick Street Lakeland, Georgia 31635 \nMrs. Helen L. Strickland {\") Route 1, Box 146 Lakeland, Georgia 31635 \nMr. Larry Williams {\") Route 2, Box 1049 Lakeland, Georgia 31635 \n{\") Denotes Board Members Serving as of June 30, 1994 \n \n$ \n \n650.00 \n \n600.00 \n \n650.00 \n \n600.00 \n \n650.00 s _ _ _3..,,1_5_0_.o_o \n \nSee notes to the general purpose financial statements. - 38 - \n \n SECTION II COMPLIANCE \n \n CLAUDE L. VICKERS \nSTATE AUDITOR (404) 656-2174 \n \nDEPARTMENT OF AUDITS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMay 16, 1995 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \nand Superintendent and Members ofthe Lanier County Board ofEducation \nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nLadies and Gentlemen: \nWe have audited the general purpose financial statements of the Lanier County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated May 16, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \nWe conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standardt 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 general purpose financial statements are free of material misstatement. \nCompliance with laws, regulations, contracts, and grants applicable to Lanier County Board of Education is the responsibility of the Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective of our audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion. \nThe results ofour tests indicate that, with respect to the items tested, the Lanier County Board of Education complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Board had not complied, in all material respects, with those provisions. \n \n94CRL-10 \n \n This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \n2-~ \nClaude L. Vickers State Auditor \nCLV:djf 94CRL-10 \n \n CIAUDE L. VICKERS \nSTATE AUDITOR (404) 656-2174 \n \nDEPARTMENT OF AUDITS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMay 16, 1995 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \nand Superintendent and Members ofthe Lanier County Board ofEducation \n \nSINGLE AUDIT REPORT ON COMPLIANCE WITII THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS \n \nLadies and Gentlemen: \n \nWe have audited the general purpose financial statements ofthe Lanier County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated May 16, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \n \nWe have applied procedures to test the Board's compliance with the following requirements applicable to each ofits Federal financial assistance programs, which are listed in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1994: \n \n(1) Political Activity \n \n(5) Allowable Costs/Cost Principles \n \n(2) Civil Rights \n \n(6) Drug-Free Workplace Act \n \n(3) Cash Management \n \n(7) Audit Follow-Up/Resolution \n \n(4) Federal Financial Reports \n \n(8) Administrative Requirements \n \nOur procedures were limited to the applicable procedures described in the Office of Management and Budget's \"Compliance Supplement for Single Audits of State and Local Governments\" and other additional procedures as deemed necessary. Our procedures were substantially less in scope than an audit, the objective ofwhich is the expression of an opinion on the Board's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. \n \n94CRL-40 \n \n With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph ofthis report. With respect to items not tested, nothing came to our attention that caused us to believe that Lanier County Board of Education had not complied, in all material respects, with those requirements. \nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \nZA \nClaude L. Vickers State Auditor \nCLV:djf 94CRL-40 \n \n CLAUDE L. VICKERS \nSTATE AUDITOR (404) 656-2174 \n \nDEPARTMENT OF AUDITS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMay 16, 1995 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \nand Superintendent and Members of the Lanier County Board ofEducation \n \nSINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS \n \nLadies and Gentlemen: \n \nWe have audited the general purpose financial statements of the Lanier County Board ofEducation a~ of and for the year ended June 30, 1994, and have issued our report thereon dated May 16, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \n \nWe have also audited the Lanier County Board of Education's compliance with the requirements governing: \n \n(1) Types of Services Allowed or Unallowed \n \n(5) Applicable Special Tests and Provisions \n \n(2) Eligibility \n(3) Matching, Level ofEffort, and/or Earmarking \n \n(6) Other Requirement Claims for Advances and Reimbursements \n \n(4) Reporting \n \nThese requirements are applicable to the major Federal financial assistance program, which is identified in the Schedule of Federal Financial Assistance, for the year ended June 30, 1994. The management ofthe Lanier County Board of Education is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit. \n \n94CRL-80 \n \n We conducted our audit ofcompliance in accordance with generally accepted auditing standards; Government Auditing Standards issued by the Comptroller General of the United States; and Office of Management and Budget (0MB) Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Board's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion. \nIn our opinion, the Lanier County Board ofEducation complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance program for the year ended June 30, 1994. \nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \n~~ \nClaude L. Vickers State Auditor \nCLV:djf 94CRL-80 \n \n CLAUDE L. VICKERS \nSTATE AUDITOR (404) 656-2174 \n \nDEPARTMENT OF AUDITS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMay 16, 1995 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation \nand Superintendent and Members of the Lanier County Board ofEducation \n \nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \n \nLadies and Gentlemen: \n \nWe have audited the general purpose financial statements of the Lanier County Board ofEducation as ofand for the year ended June 30, 1994, and have issued our report thereon dated May 16, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \n \nIn connection with our audit ofthe fiscal year 1994 general purpose financial statements of the Lanier County Board ofEducation and with our consideration of the Board's internal control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (0MB) Circular A128, \"Audits of State and Local Governments\", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1994. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements governing: \n \n(1) Types of Services Allowed or Unallowed \n \n(2) Eligibility \n \nOur procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Board's compliance with these requirements. Accordingly, we do not express such an opinion. \n \nWith respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Lanier County Board ofEducation had not complied, in all material respects, with those requirements. \n \n94CRL-120 \n \n This report is intended for the infonnation of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \n7~ \nClaude L. Vickers State Auditor \nCLV:djf 94CRL-120 \n \n SECTION III INTERNAL CONTROL \n \n CLAUDE L. VICKERS \nSTATE AUDITOR (404) 656-2174 \n \nDEPARTMENT OF AUDITS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMay 16, 1995 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation \nand Superintendent and Members of the Lanier County Board ofEducation \nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nLadies and Gentlemen: \nWe have audited the general purpose financial statements ofthe Lanier County Board ofEducation as ofand for the year ended June 30, 1994, and have issued our report thereon dated May 16, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \nWe conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standards, issued by the Comptroller General ofthe United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. \nIn planning and performing our audit ofthe general purpose financial statements of the Lanier County Board of Education for the year ended June 30, 1994, we considered the internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide assurance on the internal control structure. \nThe management ofthe Lanier County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not \n94ICL-3 \n \n be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness ofthe design and operation of policies and procedures may deteriorate. \n \nFor the purposes of this report, we have classified the significant internal control structure policies and procedures in the following categories: \n \n(1) Cash and Cash Equivalents \n \n(6) Employee Compensation \n \n(2) Inventories \n \n(7) General Ledger \n \n(3) Revenue/Receivables/Receipts \n \n(8) General Fixed Assets \n \n(4) Procurement \n \n(5) Expenditures/Liabilities/ Disbursements \n \nFor all ofthe internal control categories listed above, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk. \n \nWe noted certain matters involving the internal control structure and its operation that we consider to be reportable conditions under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements. \n \nAs described in the Schedule ofFindings and Improper or Questioned Costs, reportable conditions were noted in the following control categories: \n \n(1) Accounting Controls (Overall) \n \n(2) General Fixed Assets \n \nA material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. \n \nOur consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that all of the reportable conditions disclosed above are also considered to be material weaknesses. \n \n94ICL-3 \n \n These conditions were considered in determining the nature, timing, and extent of the procedures to be perfonned in our audit ofthe Lanier County Board ofEducation financial statements and this report does not affect our report thereon dated May 16, 1995. \nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \n71~~ \nClaude L. Vickers State Auditor \nCLV:djf 94ICL-3 \n \n CIAUDE L. VICKERS \nSTATE AUDITOR (404) 656-2174 \n \nDEPARTMENT OF AUDITS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nMay 16, 1995 \n \nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \nand Superintendent and Members ofthe Lanier County Board ofEducation \nSINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \nLadies and Gentlemen: \nWe have audited the general purpose financial statements of the Lanier County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated May 16, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We have also audited the Lanier County Board of Education's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated May 16, 1995. \nWe conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and the provisions of Office of Management and Budget (0MB) Circular A-128, \"Audits ofState and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the Lanier County Board ofEducation complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program. \nIn planning and performing our audit for the year ended June 30, 1994, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the Board's general purpose financial statements and on its compliance with requirements applicable to major Federal financial assistance programs and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated May 16, 1995. \n94ICL-11 \n \n The management ofthe Lanier County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that, assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to pennit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that Federal financial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because ofchanges in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. \n \nFor the purpose of this report, we have classified the significant internal control structure policies and procedures used in administering Federal financial assistance programs in the following control categories: \n \nGENERAL REQUIREMENTS \n \nSPECIFIC REQUIREMENTS \n \n(1) Political Activity (2) Civil Rights (3) Cash Management (4) Federal Financial Reports \n \n(1) Types of Services Allowed or Unallowed \n(2) Eligibility \n(3) Matching, Level ofEffort, and/or Earmarking \n \n(5) Allowable Costs/Cost Principles \n \n(4) Reporting \n \n(6) Drug-Free Workplace Act (7) Audit Follow-Up/Resolution (8) Administrative Requirements \n \n(5) Applicable Special Tests and Provisions \n(6) Other Requirement Claims for Advances and Reimbursements \n \nFor all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures and determined whether they have been placed in operation, and we assessed control risk. \n \nDuring the year ended June 30, 1994, the Lanier County Board ofEducation expended 69\"/o ofits total Federal financial assistance under a major Federal financial assistance program and the following nonmajor Federal financial assistance program: \n \nFood and Nutrition Program Food Service National School Lunch Program \n \n94ICL-11 \n \n We performed tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements, and specific requirements, as described above that are applicable to each ofthe Board's major Federal financial assistance program, which is identified in the Schedule ofFederal Financial Assistance, and the aforementioned nonmajor program. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. \nWe noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the Board's ability to administer Federal financial assistance programs in accordance with applicable laws and regulations. \nAs described in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category: \nAdministrative Requirements \nA material weakness is a reportable condition in which the design or operation of one or more ofthe internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. \nOur consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might be reportable conditions, and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition described above is also considered to be a material weakness. \nThis condition was considered in determining the nature, timing, and extent of the procedures to be performed in our audit ofthe Lanier County Board ofEducation's compliance with requirements applicable to its major Federal financial assistance programs for the year ended June 30, 1994, and this report does not affect our report thereon dated May 16, 1995. \nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which is a matter of public record. \n'2': \nClaude L. Vickers State Auditor \nCLV:djf 94ICL-11 \n \n SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \nYEAR ENDED JUNE 30 1994 \nPRIOR YEAR \nAUDIT FOLLOW-UP/RESOLUTION Loan in Excess of Statutory Limit Financial Statements Finding Resolved Audit Control Number 6861-93-02 \nThe audit report for the year ended June 30, 1993, stated that the Board had an unpaid loan outstanding which exceeded 75 percent ofthe total gross income from taxes collected in the last preceding year. This excessive loan violated Article IX, Section V, Paragraph V ofthe Constitution ofthe State of Georgia. For the year ended June 30, 1994, the Board did not borrow funds in excess ofthe 75 percent statutory limit. \nAUDIT FOLLOW-UP/RESOLUTION Uncollateralized Deposits Financial Statements Finding Resolved Audit Control Number 6861-93-04 \nThe audit report for the year ended June 30, 1993, stated that the Board failed to have its bank balances fully collateralized as provided for by the Official Code of Georgia Annotated (OCGA) Section 45-8-12. For the year under review, the Board-passed a resolution exempting the financial institutions holding operating accounts from collateral requirements in accordance with provisions available to the Board in OCGA Section 45-8-11. All other accounts were fully collateralized. \nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $426.80 Audit Control Number 6861-93-05 \nThe audit report for the year ended June 30, 1993, stated that the Lanier County Board of Education had an underexpenditure of Quality Basic Education (QBE) funds of$426.80 for the StaffDevelopment - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department of Education to refund the underexpenditure as required. These funds should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for QBE programs in a subsequent fiscal year. \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \nYEAR ENDED JUNE 30 1994 \nPRIOR YEAR \nAUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Finding Resolved Audit Control Number 6861-23-06 \nThe audit report for the year ended June 30, 1993 stated that the Board failed to submit a copy of the 1992 audit report to various entities that were the sources ofFederal Financial Assistance. In the year under review, the 1992 and 1993 audit reports were sent to the appropriate grantor agencies in accordance with audit distribution requirements. \nPRIOR YEAR/CURRENT YEAR \nACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation ofDuties Reportable Condition - Material Weakness Audit Control Number 6861-93-01 \nThe audit report for the year ended June 30, 1993, disclosed that the Board did not provide for adequate separation of employee duties in the performance ofaccounting functions and related procedures for all funds. For the year under review, our audit noted no improvement regarding adequate separation of employee duties. This deficiency was a result ofmanagement not assigning employee duties in a manner to adequately safeguard assets and/or promote efficiency and accuracy in key accounting functions. The management of the Board should formulate and implement changes in personnel to achieve an adequate system of internal control of key accounting functions. \nNote: All Federal financial assistance programs listed in the Schedule ofFederal Financial Assistance, Schedule \"1 \" ofthis report are affected by this finding. \n \n LANIER COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \nYEAR ENDED JUNE 30 1994 \nPRIOR YEAR/CURRENT YEAR \nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6861-93-03 \nThe audit report for the year ended June 30, 1993, noted that the Board chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include but may not be limited to date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. \nNote: The Lanier County Board ofEducation was provided an opportunity to include pertinent comments from the Board's management concerning these audit findings, conclusions and recommendations. The Board has elected not to provide comments for inclusion in this report. \n \n "}],"pages":{"current_page":1,"next_page":null,"prev_page":null,"total_pages":1,"limit_value":10,"offset_value":0,"total_count":10,"first_page?":true,"last_page?":true},"facets":[{"name":"type_facet","items":[{"value":"Text","hits":10}],"options":{"sort":"count","limit":16,"offset":0,"prefix":null}},{"name":"creator_facet","items":[{"value":"Georgia. Department of Audits","hits":6},{"value":"Georgia. 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