{"response":{"docs":[{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b2007-h2008","title":"City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2008","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Toombs County, Vidalia, 32.21769, -82.41346"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["2008-06-30"],"dcterms_description":["Began with: Fiscal year ended June 30, 2000; ceased with: Fiscal year ended June 30, 2008.","Report year covers fiscal year.","Has supplements: City of Vidalia Board of Education, Toombs County, Georgia, schedule of salaries and travel, fiscal year ended June 30, 2000-fiscal year ended June 30, 2002; Report on salary and travel for the fiscal year ended ... (City of Vidalia Board of Education, Ga.), fiscal year ended June 30, 2003-fiscal year ended June 30, 2007; Salaries and travel reimbursement (City of Vidalia Board of Education, Ga.), fiscal year ended June 30, 2008."],"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":["City of Vidalia Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Vidalia--Auditing--Periodicals.","Education--Georgia--Vidalia--Finance--Statistics--Periodicals.","Education--Auditing","Education--Finance","Expenditures, Public","Georgia--Vidalia--fast","Georgia Government Documents--Serial"],"dcterms_title":["City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2008"],"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-be33-bv3-b2007-h2008"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b2007-h2008"],"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":"C I N OF VlDALlA BOARD OF EDUCATION \r\nTOOMBS COUNTY, GEORGIA REPORT ON AUDIT \r\nOF THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30,2008 \r\nI \r\nSTATE OF GEORGIA \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\nRussell W. Hinton State Auditor \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\n- TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON BASIC FINANCIAL \r\nSTATEMENTS AND SUPPLEMENTARY INFORMATION - SCHEDULE OF \r\nEXPENDITURES OF FEDERAL AWARDS \r\n \r\nEXHIBITS \r\n \r\nBASIC FINANCIAL STATEMENTS \r\n \r\nDISTRICT-WIDE FINANCIAL STATEMENTS \r\n \r\nA \r\n \r\nSTATEMENT OF NET ASSETS \r\n \r\nB \r\n \r\nSTATEMENT OF ACTIVITIES \r\n \r\nFUND FINANCIAL STATEMENTS \r\n \r\nC \r\n \r\nBALANCE SHEET \r\n \r\nGOVERNMENTAL FUNDS \r\n \r\nD \r\n \r\nRECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET \r\n \r\nTO THE STATEMENT OF NET ASSETS \r\n \r\nE \r\n \r\nSTATEMENT OF REVENUES, EXPENDITURES AND CHANGES \r\n \r\nIN FUND BALANCES \r\n \r\nGOVERNMENTAL FUNDS \r\n \r\nF \r\n \r\nRECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT \r\n \r\nOF REVENUES, EXPENDITURES AND CHANGES IN FUND \r\n \r\nBALANCES TO THE STATEMENT OF ACTIVITIES \r\n \r\nG \r\n \r\nSTATEMENT OF FIDUCIARY NET ASSETS \r\n \r\nFIDUCIARY FUNDS \r\n \r\nH \r\n \r\nSTATEMENT OF CHANGES IN FIDUCIARY NET ASSETS \r\n \r\nFIDUCIARY FUNDS \r\n \r\nI \r\n \r\nNOTES TO THE BASIC FINANCIAL STATEMENTS \r\n \r\nSCHEDULES \r\n \r\nREQUIRED SUPPLEMENTARY INFORMATION \r\n \r\n1 SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES \r\nIN FUND BALANCES - BUDGET AND ACTUAL \r\nGENERAL FUND \r\n \r\nSUPPLEMENTARY INFORMATION \r\n \r\n2 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 3 SCHEDULE OF STATE REVENUE \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\n- TABLE OF CONTENTS - \r\n \r\nPage \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nSCHEDULES \r\n \r\nSUPPLEMENTARY INFORMATION \r\n \r\n4 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\n \r\n28 \r\n \r\n5 ALLOTMENTS AND EXPENDITURES \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS (QBE) \r\n \r\nBY PROGRAM \r\n \r\n29 \r\n \r\nSECTION I1 \r\nCOMPLIANCE AND INTERNAL CONTROL REPORTS \r\nREPORT 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\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 \r\n \r\nSECTION I11 AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\nSECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\n- TABLE OF CONTENTS - \r\nSECTION V MANAGEMENT'S RESPONSES SCHEDULE OF MANAGEMENT'S RESPONSES \r\n \r\n SECTION I FINANCIAL \r\n \r\n Russell W. Hinton \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENOTF AUDITSAND ACCOUNTS \r\n270 Washington Street, S.W., Suite 1-156 Atlanta, Georgia 30334-8400 \r\nOctober 19,2009 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the City of Vidalia Board of Education \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON BASIC FINANCIAL \r\nSTATEMENTS AND SUPPLEMENTARY INFORMATION - SCHEDULE OF \r\nEXPENDITURES OF FEDERAL AWARDS \r\nLadies and Gentlemen: \r\nWe have audited the accompanying financial statements of the governmental activities, each major fbnd, and the aggregate remaining h n d information (Exhibits A through I) of the City of Vidalia Board of Education, as of and for the year ended June 30,2008, which collectively comprise the Board's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the City of Vidalia Board of Education's management. Our responsibility is to express opinions on these financial statements based on our audit. \r\nWe 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 GovernmentAuditing Standards, issued by the ComptrollerGeneral of the United States. Those standards requirethat we plan and perform the audit to obtain reasonable assuranceabout whether the financial statementsare free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City of Vidalia Board of Education's internal control over financialreporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements,assessingthe accountingprinciples used and significantestimatesmade by management, as well as evaluatingthe overall financial statementpresentation. We believethat our audit provides a reasonable basis for our opinions. \r\n \r\n                                               "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b2006-h2007","title":"City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2007","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Toombs County, Vidalia, 32.21769, -82.41346"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["2007-06-30"],"dcterms_description":["Began with: Fiscal year ended June 30, 2000; ceased with: Fiscal year ended June 30, 2008.","Report year covers fiscal year.","Has supplements: City of Vidalia Board of Education, Toombs County, Georgia, schedule of salaries and travel, fiscal year ended June 30, 2000-fiscal year ended June 30, 2002; Report on salary and travel for the fiscal year ended ... (City of Vidalia Board of Education, Ga.), fiscal year ended June 30, 2003-fiscal year ended June 30, 2007; Salaries and travel reimbursement (City of Vidalia Board of Education, Ga.), fiscal year ended June 30, 2008."],"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":["City of Vidalia Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Vidalia--Auditing--Periodicals.","Education--Georgia--Vidalia--Finance--Statistics--Periodicals.","Education--Auditing","Education--Finance","Expenditures, Public","Georgia--Vidalia--fast","Georgia Government Documents--Serial"],"dcterms_title":["City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2007"],"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-be33-bv3-b2006-h2007"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b2006-h2007"],"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":"CITY OF VIDALIA BOARD OF EDUCATION \r\nTOOMBS COUNTY, GEORGIA REPORT ON AUDIT \r\nOF THE FINANCIAL STATEMENTS \r\nFOR THE FISCAL YEAR ENDED JUNE 30, 2007 \r\nSTATE OF GEORGIA \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\nRussell W. Hinton State Auditor \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON BASIC FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION - SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\nEXHIBITS \r\n \r\nBASIC FINANCIAL STATEMENTS \r\n \r\nDISTRICT-WIDE FINANCIAL STATEMENTS \r\n \r\nA \r\n \r\nSTATEMENT OF NET ASSETS \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\n4 \r\n \r\nD \r\n \r\nRECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET \r\n \r\nTO THE STATEMENT OF NET ASSETS \r\n \r\n5 \r\n \r\nE \r\n \r\nSTATEMENT OF REVENUES, EXPENDITURES AND CHANGES \r\n \r\nIN FUND BALANCES \r\n \r\nGOVERNMENTAL FUNDS \r\n \r\n6 \r\n \r\nF \r\n \r\nRECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT \r\n \r\nOF REVENUES, EXPENDITURES AND CHANGES IN FUND \r\n \r\nBALANCES TO THE STATEMENT OF ACTIVITIES \r\n \r\n7 \r\n \r\nG \r\n \r\nSTATEMENT OF FIDUCIARY NET ASSETS \r\n \r\nFIDUCIARY FUNDS \r\n \r\n8 \r\n \r\nH \r\n \r\nSTATEMENT OF CHANGES IN FIDUCIARY NET ASSETS \r\n \r\nFIDUCIARY FUNDS \r\n \r\n9 \r\n \r\nI \r\n \r\nNOTES TO THE BASIC FINANCIAL STATEMENTS \r\n \r\n11 \r\n \r\nSCHEDULES \r\n \r\nREQUIRED SUPPLEMENTARY INFORMATION \r\n \r\n1 SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES \r\n \r\nIN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\nGENERALFUND \r\n \r\n25 \r\n \r\nSUPPLEMENTARY INFORMATION \r\n \r\n2 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\n26 \r\n \r\n3 SCHEDULE OF STATE REVENUE \r\n \r\n27 \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nSCHEDULES \r\n \r\nSUPPLEMENTARY INFORMATION \r\n \r\n4 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\n \r\n28 \r\n \r\n5 ALLOTMENTS AND EXPENDITURES \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS (QBE) \r\n \r\nBY PROGRAM \r\n \r\n29 \r\n \r\nSECTION II \r\nCOMPLIANCE AND INTERNAL CONTROL REPORTS \r\nREPORT 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\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULAR A-133 \r\n \r\nSECTION III AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\nSECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS - \r\nSECTIONV MANAGEMENT'S RESPONSES SCHEDULE OF MANAGEMENT'S RESPONSES \r\n \r\n SECTION I FINANCIAL \r\n \r\n Russell W. Hinton \r\nSTATE AUDITOR \r\n(404) 858-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n270 Washington Street, S.W., Suite 1-156 Atlanta, Georgia 30334-8400 \r\nMay 12, 2008 \r\n \r\nHonorable Sonny Perdue, Governor Members ofthe General Assembly Members ofthe State Board of Education \r\nand Superintendent and Members of the City ofVidalia Board of Education \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON BASIC FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION - SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nLadies and Gentlemen: \r\nWe have audited the accompanying financial statements ofthe governmental activities, each major fund, and the aggregate remaining fund information (Exhibits A through I) of the City of Vidalia Board of Education, as of and for the year ended June 30, 2007, which collectively comprise the Board's basic financial statements as listed in the table of contents. These financial statements are the responsibility ofthe City ofVidalia Board ofEducation's management. Our responsibility is to express opinions on these financial statements based on our audit. \r\nWe conducted our audit in accordance with auditing standards generally accepted in the United States ofAmerica and the standards applicable to financial audits contained in GovernmentAuditing 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 financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City of Vidalia Board of Education's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. \r\n \r\n2007ARL-ll \r\n \r\n In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information ofthe City ofVidalia Board ofEducation, as ofJune 30, 2007, and the respective changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. \r\nThe City of Vidalia Board ofEducation has not presented Management's Discussion and Analysis that accounting principles generally accepted in the United States of America has determined is necessary to supplement, although not to be part of, the basic financial statements. \r\nIn accordance with Government Auditing Standards, we have also issued our report dated May 12, 2008, on our consideration ofthe City ofVidalia Board ofEducation'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 to describe the scope of our testing ofinternal control over financial reporting and compliance and the results ofthat testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. \r\nThe Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual, as presented on page 25, is not a required part of the basic financial statements but is supplementary information required by the accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methqds ofmeasurement and presentation ofthe required supplementary information. However, we did not audit the information and express no opinion on it. \r\nOur audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City of Vidalia Board of Education's basic financial statements. The accompanying supplementary information which consist of Schedules 2 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 basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements, and in our opinion, is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. \r\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. \r\nRespectfully submitted, \r\n \r\nRWH:as 2007ARL-11 \r\n \r\nRussell W. Hinton, CPA, CGFM State Auditor \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION -TOOMBS COUNTY STATEMENT OF NET ASSETS JUNE 30, 2007 \r\n \r\nEXHIBIT \"A\" \r\n \r\nASSETS \r\nCash and Cash Equivalents Investments Accounts Receivable, Net \r\nTaxes State Government Federal Government Other Inventories Capital Assets Land Construction in Progress Land Improvements Buildings Equipment Less: Accumulated Depreciation \r\nTotal Assets \r\nLIABILITIES \r\nAccounts Payable Salaries and Benefits Payable Long-Term Liabilities \r\nDue Within One Year Due in More Than One Year \r\nTotal Liabilities \r\nNET ASSETS \r\nInvested in Capital Assets, Net of Related Debt Restricted for \r\nBus Replacement Continuation of Federal Programs Debt Service Capital Projects Un restricted \r\nTotal Net Assets \r\nTotal Liabilities and Net Assets \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n-1- \r\n \r\nGOVERNMENTAL ACTIVITIES \r\n \r\n$ \r\n \r\n4,151,116.01 \r\n \r\n1,479,194.84 \r\n \r\n1,406,052.61 1,571,101.50 \r\n241,597.35 16,628.41 38,468.05 \r\n \r\n722,804.05 121,621.85 2,561,402.83 19,217,488.98 1,215,330.83 -5,661,074.97 \r\n \r\n$ =====2=7\"'=,0=81=,7=3=2=.3=4 \r\n \r\n$ \r\n \r\n83,609.32 \r\n \r\n2,099,860.77 \r\n \r\n415,000.00 920,000.00 \r\n \r\n$ \r\n \r\n3,518,470.09 \r\n \r\n$ \r\n \r\n16,842,573.57 \r\n \r\n34,578.00 479,646.70 1,494,287.72 1,503,937.44 3,208,238.82 \r\n \r\n$ \r\n \r\n23,563,262.25 \r\n \r\n$ =====2=7\"'=0,=8=1,=73=2=.3=4 \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION -TOOMBS COUNTY STATEMENT OF ACTIVITIES \r\nFOR THE YEAR ENDED JUNE 30, 2007 \r\n \r\nGOVERNMENTAL ACTIVITIES \r\nInstruction Support Services \r\nPupil 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 Community Services Food Services Interest on Short-Term and Long-Term Debt \r\nTotal Governmental Activities \r\nGeneral Revenues Taxes Property Taxes For Maintenance and Operations Sales Taxes Special Purpose Local Option Sales Tax For Capital Projects Grants and Contributions not Restricted to Specific Programs Investment Earnings Miscellaneous \r\nTotal General Revenues \r\nChange in Net Assets \r\nNet Assets - Beginning of Year \r\nNet Assets - End of Year \r\n \r\nEXPENSES \r\n \r\nCHARGES FOR SERVICES \r\n \r\n$ 13,527,473.28 $ \r\n1,148,648.91 547,595.45 490,473.53 377,770.48 \r\n1,301,848.26 206,843.28 \r\n1,339,562.17 649,252.52 2,188.52 79,784.17 \r\n107,500.99 200,413.79 1,193,446.29 \r\n96,470.00 \r\n$ 21,269,271.64 $ \r\n \r\n131,540.86 \r\n94,837.47 276,954.17 503,332.50 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -2- \r\n \r\n EXHIBIT\"B\" \r\n \r\nPROGRAM REVENUES \r\n \r\nOPERATING \r\n \r\nCAPITAL \r\n \r\nGRANTS AND \r\n \r\nGRANTS AND \r\n \r\nCONTRIBUTIONS CONTRIBUTIONS \r\n \r\nNET (EXPENSES) REVENUES \r\nAND CHANGES IN NET ASSETS \r\n \r\n$ 10,523,134.15 \r\n122,620.43 155,255.53 257,989.97 521,528.31 619,705.29 \r\n5,738.18 748,168.68 291,269.33 $ \r\n1,791.57 5,159.30 \r\n292.38 958,783.34 \r\n$ 14,211,436.46 $ \r\n \r\n$ \r\n15,078.00 23,513.00 38,591.00 $ \r\n \r\n-2,872, 798.27 \r\n-1,026,028.48 -392,339.92 -232,483.56 143,757.83 -682, 142.97 -201, 105.10 -591,393.49 -342,905.19 -396.95 -74,624.87 \r\n-12,663.52 -200,121.41 \r\n65,804.22 -96,470.00 \r\n-6,515,911.68 \r\n \r\n$ \r\n \r\n3,673,942.96 \r\n \r\n2,234,702.39 1,453,034.00 \r\n127,864.87 799,265.33 \r\n \r\n$ \r\n \r\n8,288,809.55 \r\n \r\n$ \r\n \r\n1,772,897.87 \r\n \r\n21,790,364.38 \r\n \r\n$ ==2=3=,5=63=,2=6=2=.2=5 \r\n \r\n-3- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY BALANCE SHEET \r\nGOVERNMENTAL FUNDS JUNE 30, 2007 \r\n \r\nEXHIBIT\"C\" \r\n \r\nASSETS \r\nCash and Cash Equivalents Investments Accounts Receivable, Net \r\nTaxes State Government Federal Government Other Inventories \r\n \r\nGENERAL FUND \r\n \r\nDISTRICTWIDE \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 1,547,474.07 $ 1,109,354.22 $ 1,494,287.72 $ 1,479,194.84 \r\n \r\n926,846.23 1,571,101.50 \r\n241,597.35 16,628.41 38.468.05 \r\n \r\n394,583.22 \r\n \r\n4,151,116.01 1,479,194.84 \r\n1,321,429.45 1,571,101.50 \r\n241,597.35 16,628.41 38.468.05 \r\n \r\nTotal Assets \r\n \r\n$ 5,821,310.45 $ 1,503,937.44 $ 1,494,287.72 $===8=,8=19..,.5..,3..,5=.6=1 \r\n \r\nLIABILITIES AND FUND BALANCES \r\nLIABILITIES \r\nAccounts Payable Salaries and Benefits Payable \r\nTotal Liabilities \r\nFUND BALANCES \r\nReserved for: Bus Replacement Continuation of Federal Programs Debt Service Inventories Capital Projects \r\nUnreserved Designated for Student Activities Undesignated Reported in: General Fund \r\nTotal Fund Balances \r\n \r\n$ 83,609.32 \r\n \r\n$ \r\n \r\n2,099,860.77 \r\n \r\n$ 2,183,470.09 \r\n \r\n$ \r\n \r\n$ 34,578.00 \r\n \r\n$ \r\n \r\n441,178.65 \r\n \r\n$ 1,494,287.72 \r\n \r\n38,468.05 \r\n \r\n$ 1,503,937.44 \r\n \r\n278,251.74 \r\n \r\n2,845,363.92 \r\n \r\n$ 3,637,840.36 $ 1,503,937.44 $ 1,494,287.72 $ \r\n \r\n83,609.32 2,099,860.77 2,183,470.09 \r\n34,578.00 441,178.65 1,494,287.72 \r\n38,468.05 1,503,937.44 \r\n278,251.74 2,845,363.92 6,636,065.52 \r\n \r\nTotal Liabilities and Fund Balances \r\n \r\n$ 5,821,310.45 $ 1,503,937.44 $ 1,494,287.72 $===8=,8=19=,5=3=5=.6=1 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -4- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION -TOOMBS COUNTY RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET \r\nTO THE STATEMENT OF NET ASSETS JUNE 30, 2007 \r\n \r\nEXHIBIT \"D\" \r\n \r\nTotal Fund Balances - Governmental Funds (Exhibit \"C\") \r\nAmounts reported for Governmental Activities in the Statement of Net Assets are different because: \r\nCapital Assets used in Governmental Activities are not financial resources and therefore are not reported in the funds. These assets consist of: \r\nLand Construction in Progress Land Improvements Buildings Equipment Accumulated Depreciation \r\nTotal Capital Assets \r\nSome of the School District's property tax revenues will be collected after year-end but are not available soon enough to pay for the current period's expenditures. \r\nBonds Payable, which are Long-Term Liabilities, are not due and payable in the current period and therefore are not reported as liabilities in the funds. \r\nNet Assets of Governmental Activities (Exhibit \"A\") \r\n \r\n$ 6,636,065.52 \r\n \r\n$ 722,804.05 121,621.85 \r\n2,561,402.83 19,217,488.98 \r\n1,215,330.83 -5,661,074.97 \r\n \r\n18,177,573.57 \r\n \r\n84,623.16 -1,335,000.00 \r\n \r\n$ 23,563,262.25 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -5- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION -TOOMBS COUNTY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nGOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2007 \r\n \r\nEXHIBIT \"E\" \r\n \r\nREVENUES \r\nProperty Taxes Sales Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous \r\nTotal Revenues \r\nEXPENDITURES \r\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 Enterprise Operations Community Services Food Services Operation \r\nCapital Outlay Debt Services \r\nPrincipal Interest \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nTransfers In Transfers Out \r\nTotal 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\nDISTRICTWIDE \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 3,672,597.80 \r\n \r\n$ 2,234,702.39 \r\n \r\n13,212,252.94 \r\n \r\n2,490,808.52 \r\n \r\n503,332.50 \r\n \r\n90,543.01 \r\n \r\n6,919.97 $ \r\n \r\n798,757.05 \r\n \r\n21,852.00 \r\n \r\n$ 20,768,291.82 $ 2,263,474.36 $ \r\n \r\n$ 3,672,597.80 \r\n \r\n2,234,702.39 \r\n \r\n13,212,252.94 \r\n \r\n2,490,808.52 \r\n \r\n503,332.50 \r\n \r\n30,401.89 \r\n \r\n127,864.87 \r\n \r\n820,609.05 \r\n \r\n30,401.89 $ 23,062,168.07 \r\n \r\n$ 13,420,286.02 \r\n \r\n$ 13,420,286.02 \r\n \r\n1,167,005.91 549,283.95 502,303.41 375,863.22 \r\n1,311,950.36 205,520.38 \r\n1,327,632.19 422,668.35 2,188.52 121,669.05 39,890.46 200,413.79 \r\n1,174,071.56 $ \r\n \r\n$ 925,069.96 \r\n \r\n795.00 \r\n \r\n1,167,005.91 549,283.95 502,303.41 375,863.22 \r\n1,311,950.36 206,315.38 \r\n1,327,632.19 422,668.35 2,188.52 121,669.05 39,890.46 200,413.79 \r\n1,174,071.56 925,069.96 \r\n \r\n385,000.00 96,470.00 \r\n \r\n385,000.00 96 470.00 \r\n \r\n$ 20,820,747.17 $ 925,069.96 $ 482,265.00 $ 22,228,082.13 \r\n \r\n$ -52,455.35 $ 1,338,404.40 $ -451,863.11 $ 834,085.94 \r\n \r\n$ 35,594.39 $ -35,594.39 \r\n \r\n$ \r\n \r\n35,594.39 \r\n \r\n-35,594.39 \r\n \r\n$ -35,594.39 $ 35 594.39 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ -88,049.74 $ 1,373,998.79 $ -451,863.11 $ 834,085.94 \r\n \r\n3,725,890.10 \r\n \r\n129,938.65 1,946,150.83 \r\n \r\n5,801,979.58 \r\n \r\n$ 3,637,840.36 $ 1,503,937.44 $ 1,494,287.72 $ 6,636,065.52 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -6 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF \r\nREVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES JUNE 30, 2007 \r\n \r\nEXHIBIT\"F\" \r\n \r\nTotal Net Change in Fund Balances - Governmental Funds (Exhibit \"E\") \r\n \r\n$ 834,085.94 \r\n \r\nAmounts reported for Governmental Activities in the Statement of Activities are different because: \r\n \r\nCapital Outlays are reported as expenditures in Governmental Funds. However, in the Statement of Activities, the cost of Capital Assets is allocated over their estimated useful lives as depreciation expense. In the current period, these amounts are: \r\n \r\nCapital Outlay Depreciation Expense \r\nExcess of Capital Outlay over Depreciation Expense \r\n \r\n$ 1,032,487.83 -458 677.34 \r\n \r\n573,810.49 \r\n \r\nBecause some property taxes will not be collected for several months after the School District's fiscal year ends, they are not considered \"available\" revenues. \r\n \r\n1,345.16 \r\n \r\nIn the Statement of Activities, only the loss on the sale of the equipment and land improvements is reported, whereas in the Governmental Funds, the entire proceeds from the sale decrease financial resources. Thus, the change in net assets differs from the change in fund balances by the carrying value of the equipment and land improvements sold. \r\n \r\n-21,343.72 \r\n \r\nRepayment of Long-Term Debt is reported as an expenditure in Governmental Funds, but the repayment reduces Long-Term Liabilities in the Statement of Net Assets. In the current year, this amount consists of Bond Principal Retirements. \r\n \r\n385,000.00 \r\n \r\nChange in Net Assets of Governmental Activities (Exhibit \"B\") \r\n \r\n$ 1,772,897.87 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -7- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF FIDUCIARY NET ASSETS FIDUCIARY FUNDS JUNE 30, 2007 \r\n \r\nEXHIBIT\"G\" \r\n \r\nASSETS \r\nCash and Cash Equivalents Investments \r\nCommon Stock \r\n \r\nPRIVATE PURPOSE TRUSTS \r\n \r\nAGENCY FUNDS \r\n \r\n$ \r\n \r\n991.75 $ 26,051.30 \r\n \r\n800.54 \r\n \r\nTotal Assets \r\n \r\n$ \r\n \r\n1,792.29 $ 26,051.30 \r\n \r\nLIABILITIES Funds Held for Others \r\nNET ASSETS Held in Trust for Private Purposes \r\nTotal Liabilities and Net Assets \r\n \r\n$ 26,051.30 \r\n \r\n$ _---'1'\"\"'7c.:9;.:2;.:.2:.;c..9 \r\n \r\n$ \r\n \r\n1,792.29 $ 26,051.30 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -8- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS FIDUCIARY FUNDS YEAR ENDED JUNE 30, 2007 \r\n \r\nEXHIBIT\"H\" \r\n \r\nADDITIONS Investment Earnings Net Increase (Decrease) in Fair Value of Investments Dividends Total Additions \r\nDEDUCTIONS None Reported Change in Net Assets \r\nNet Assets - Beginning \r\nNet Assets - Ending \r\n \r\nPRIVATE PURPOSE TRUSTS \r\n \r\n$ \r\n \r\n183.53 \r\n \r\n84.76 \r\n \r\n$ \r\n \r\n268.29 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n268.29 \r\n \r\n1,524.00 \r\n \r\n$ ==1=,7=9=2.=2=9 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -9- \r\n \r\n (This page left intentionally blank) \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 1: DESCRIPTION OF SCHOOL DISTRICT AND REPORTING ENTITY \r\nREPORTING ENTITY \r\nThe City of Vidalia Board of Education (School District) 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 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\nBASIS OF PRESENTATION \r\nThe School District's basic financial statements are collectively comprised of the District-wide financial statements, fund financial statements and notes to the basic financial statements ofthe City of Vidalia Board of Education. \r\nDistrict-wide Statements: The Statement ofNet Assets and the Statement ofActivities display information about the financial activities ofthe overall School District, except for fiduciary activities. 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 Activities presents a comparison between direct expenses and program revenues for each function of the School District's governmental activities. \r\n Direct 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 ofthe School District's programs, such as office and maintenance personnel and accounting) are not allocated to programs. \r\n Program revenues include (a) charges paid by the recipients ofgoods 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: The fund financial statements provide information about the School District's funds, including fiduciary funds. Eliminations have been made to minimize the double counting of internal activities. Separate statements for each category (governmental and fiduciary) are presented. The emphasis of fund financial statements is on major governmental funds, each displayed in a separate column. \r\n \r\n- 11 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nThe School District reports the following major governmental funds: \r\n General Fund is the School District's primary operating fund. It accounts for all financial resources ofthe School District, except those resources required to be accounted for in another fund. \r\n District-wide Capital Projects Fund accounts for financial resources including Special Purpose Local Option Sales Tax (SPLOST) proceeds to be used for the acquisition, construction or renovation of major capital facilities. \r\n Debt Service Fund accounts for taxes (sales) legally restricted for the payment of general longterm principal, interest and paying agent's fees. \r\nThe School District reports the following fiduciary fund types: \r\n Private Purpose Trust fund reports a trust arrangement under which income may be expended to provide college scholarships to Vidalia City High School seniors. \r\n Agency funds account for assets held by the School District as an agent for various funds, governments or individuals. \r\nBASIS OF ACCOUNTING \r\nThe basis ofaccounting determines when transactions are reported on the financial statements. The District-wide governmental and fiduciary fund 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 ofaccounting. Under this method, revenues are recognized when measurable and available. The School District considers all revenues reported in the governmental funds to be \r\n- 12 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\navailable if they are collected within sixty 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 ofgeneral long-term liabilities are reported as other financing sources. \r\nThe School District funds certain programs by a combination ofspecific cost-reimbursement grants, categorical grants, and general revenues. Thus, when program costs are incurred, there are both restricted and unrestricted net assets 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\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist ofcash on hand, demand deposits 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 Section 45-8-14 authorize the School District to deposit its funds in one or more solvent banks or insured Federal savings and loan associations. \r\nINVESTMENTS \r\nCOMPOSITION OF INVESTMENTS Investments made by the School District in nonparticipating interest-earning contracts (such as certificates ofdeposit) 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 and equity investments are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the School District to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following: \r\n(1) Obligations issued by the State of Georgia or by other states, \r\n(2) Obligations issued by the United States government, \r\n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \r\n(4) Obligations of any corporation of the United States government, \r\n- 13 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\n \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\n(5) Prime banker's acceptances, \r\n \r\n(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services, \r\n \r\n(7) Repurchase agreements, and \r\n \r\n(8) Obligations of other political subdivisions of the State of Georgia. \r\n \r\nThe School District does not have a formal policy regarding investment policies that address credit risks, custodial credit risks, concentration ofcredit risks, interest rate risks or foreign currency risks. \r\n \r\nRECEIVABLES \r\n \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\n \r\nPROPERTY TAXES \r\n \r\nThe City of Vidalia fixed the property tax levy for the 2006 tax digest year (calendar year) on October 28, 2006 (levy date). Taxes were due on December 20, 2006 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2006 tax digest are reported as revenue in the governmental funds for fiscal year 2007. The Vidalia City Clerk bills and collects the property taxes for the School District and remits the balance oftaxes collected to the School District. Property tax revenues, at the fund reporting level, during the fiscal year ended June 30, 2007, for maintenance and operations amounted to $3,672,597.80. \r\n \r\nThe tax millage rate levied for the 2006 tax year (calendar year) for the City of Vidalia Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n14.359 mills \r\n \r\nSALES TAXES \r\n \r\nSpecial Purpose Local Option Sales Tax, at the fund reporting level, during the year amounted to $2,234,702.39 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\n- 14 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES On the basic financial statements, inventories of donated food commodities used in the preparation ofmeals are reported at their Federally assigned value and purchased foods inventories are reported at cost (first-in, first-out). 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\n \r\nCAPITAL ASSETS \r\n \r\nCapital assets purchased, including capital outlay costs, are recorded as expenditures in the fund financial statements at the time of purchase (including ancillary charges). On the District-wide financial statements, all purchased capital assets are valued 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 estimated fair market value on the date donated. Disposals are deleted at depreciated recorded cost. The cost of normal maintenance and repairs that do not add to the value ofassets or materially extend the useful lives of the assets is not capitalized. Depreciation is computed using the straight-line method. The School District does not capitalize book collections or works ofart. During the fiscal year under review, no events or changes in circumstances affecting a capital asset that may indicate impairment were known to the School District. \r\n \r\nCapitalization thresholds and estimated useful lives of capital assets reported in the District-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 \r\n \r\n$ 10,000.00 \r\n \r\nNIA \r\n \r\n$ 10,000.00 \r\n \r\n60 years \r\n \r\n$ 10,000.00 25 to 60 years \r\n \r\n$ 10,000.00 10 to 15 years \r\n \r\nDepreciation is used to allocate the actual or estimated historical cost of all capital assets over estimated useful lives. \r\n \r\nGENERAL OBLIGATION BONDS \r\n \r\nThe School District issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond issuance costs are recognized in the financial \r\n \r\n- 15 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nstatements during the fiscal year bonds are issued. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the Statement ofNet Assets. \r\nNET ASSETS \r\nThe School District's net assets in the District-wide Statements are classified as follows: \r\nInvested in capital assets, net of related debt - This represents the School District's total \r\ninvestment in capital assets, net ofoutstanding 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 invested in capital assets, net of related debt. \r\nRestricted net assets - These represent resources for which the School District is legally or \r\ncontractually obligated to spend resources for bus replacement, continuation of Federal programs, debt service and capital projects in accordance with restrictions imposed by external third parties. \r\nUnrestricted net assets - Unrestricted net assets represent resources derived from property taxes, \r\nsales taxes, grants and contributions not restricted to specific programs, charges for services, and miscellaneous revenues. These resources are used for transactions relating to the educational and general operations of the School District, and may be used at the discretion of the Board to meet current expenses for those purposes. \r\nNote 3: DEPOSITS AND INVESTMENTS \r\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 ofmoney which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate ofthe face value ofsuch 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. Ifa depository elects the pooled method (OCGA 45-8-13.1) the aggregate ofthe market value ofthe securities pledged to secure a pool ofpublic funds shall be not less than 110 percent ofthe daily pool balance. \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 \r\n- 16 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\n \r\nNote 3: DEPOSITS AND INVESTMENTS \r\n \r\n(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or ofthe State of Georgia, \r\n \r\n(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia, \r\n \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 \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws ofthe State of Georgia, and \r\n \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 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\nCATEGORIZATION OF DEPOSITS At June 30, 2007, the bank balances were $6,413,145.94. The amounts ofthe total uninsured bank balances are classified into three categories of custodial credit risk: \r\n \r\nCategory 1 - Uncollateralized, Category 2 - Cash collateralized with securities held by the pledging financial institution, or Category 3 - Cash collateralized with securities held by the pledging financial institution's \r\ntrust department or agent but not in the School District's name. \r\n \r\nThe School District's uninsured deposits are classified by custodial credit risk category at June 30, 2007, as follows: \r\n \r\nCustodial Credit Risk Category \r\n \r\nBank Balance \r\n \r\n1 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n2 \r\n \r\n82,844.59 \r\n \r\n3 \r\n \r\n4,314,195.19 \r\n \r\nTotal \r\n \r\n$ 4,397,039.78 \r\n \r\n- 17 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\n \r\nNote 3: DEPOSITS AND INVESTMENTS \r\n \r\nCATEGORIZATION OF INVESTMENTS Custodial Credit Risk Custodial credit risk for investments is the risk that, in the event ofthe failure ofthe counterparty to a transaction, the School District will not be able to recover the value ofthe investment or collateral securities that are in the possession of an outside party. The School District does not have a formal policy for managing custodial credit risk. \r\n \r\nAt June 30, 2007, the fair value ofthe School District's total investments was $800.54 and this entire amount consisted ofcommon stock which was insured or registered, or securities held by the School District or the School District's agent in the School District' name. \r\n \r\nNote 4: NON-MONETARY TRANSACTIONS \r\n \r\nThe School District receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 2 - Inventories \r\n \r\nNote 5: CAPITAL ASSETS \r\n \r\nThe following is a summary of changes in the Capital Assets during the fiscal year: \r\n \r\nBalances July 1, 2006 \r\n \r\nIncreases \r\n \r\nDecreases \r\n \r\nBalances June 30, 2007 \r\n \r\nGovernmental Activities Capital Assets, Not Being Depreciated: \r\nLand Construction in Progress \r\n \r\n$ 722,804.05 \r\n \r\n$ 722,804.05 \r\n \r\n2,212,551.00 $ 121,621.85 $2,212,551.00 121,621.85 \r\n \r\nTotal Capital Assets Not Being Depreciated $ 2,935,355.05 $ 121,621.85 $2,212,551.00 $ 844,425.90 \r\n \r\nCapital Assets Being Depreciated Buildings and Improvements Equipment Land Improvements \r\n \r\n$16,094,072.00 $3,123,416.98 \r\n \r\n$19,217,488.98 \r\n \r\n1,390,031.83 \r\n \r\n$ 174,701.00 1,215,330.83 \r\n \r\n2,587,807.47 \r\n \r\n26,404.64 2,561,402.83 \r\n \r\nLess Accumulated Depreciation for: Buildings and Improvements Equipment Land Improvements \r\n \r\n4,356,645.76 798,280.64 227,233.15 \r\n \r\n307,345.93 108,641.33 42,690.08 \r\n \r\n174,701.00 5,060.92 \r\n \r\n4,663,991.69 732,220.97 264,862.31 \r\n \r\nTotal Capital Assets, Being Depreciated, Net $14,689,751.75 $2,664,739.64 $ 21,343.72 $17,333,147.67 \r\n \r\nGovernmental Activity Capital Assets - Net $ I7,625, IQ6.80 $ 2,786,361.49 $2,233,894.72 $18,177,573.57 \r\n \r\n- 18 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\n \r\nNote 5: CAPITAL ASSETS \r\n \r\nCurrent year depreciation expense by function is as follows: \r\n \r\nInstruction Support Services \r\nPupil Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Enterprise Operations Food Services \r\n \r\n$ 231,204.36 \r\n \r\n$ 18,001.31 8,972.03 3,940.03 5,177.06 550.37 12,437.78 \r\n90,028.61 \r\n \r\n139,107.19 71,638.50 16,727.29 \r\n \r\n$ 458,677.34 \r\n \r\nNote 6: RESTRICTED ASSETS \r\n \r\nSpecial Purpose Local Option Sales Tax (SPLOST) is restricted assets in the Statement ofNet Assets because its use is limited by statutory provisions. Restricted assets at June 30, 2007, were as follows: \r\n \r\nDistrict-wide Capital Projects SPLOST \r\n \r\nDebt Service Funds \r\n \r\nRestricted Cash and Cash Equivalents: Debt Services Capital Acquisitions \r\n \r\n$ 1,494,287.72 $ 1,109,354.22 \r\n \r\nNote 7: INTERFUND TRANSFERS \r\n \r\nInterfund transfers for the year ended June 30, 2007, consisted of the following: \r\n \r\nTransfer to \r\n \r\nTransfers From General Fund \r\n \r\nDistrict-wide Capital Projects \r\n \r\n$ 35,594.39 \r\n \r\n- 19 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 7: INTERFUND TRANSFERS \r\n \r\nTransfers are used to move property tax revenues collected by the General Fund to the District-wide Capital Projects Fund as supplemental funding source for capital construction projects. \r\n \r\nNote 8: RISK MANAGEMENT \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; acts of God and unemployment compensation. \r\n \r\nThe School District has obtained commercial insurance for risk ofloss associated with torts, assets and errors or omissions. The School District has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the School District's insurance coverage in any of the past three years. \r\n \r\nThe School District has elected to self-insure for all losses related to acts of God. The School District has not experienced any losses related to this risk in the past three years. \r\n \r\nThe School District is self-insured with regard to unemployment compensation claims. The School District 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. The School District has not incurred any liabilities for unemployment compensation during the past two fiscal years. \r\n \r\nThe School District participates in the Georgia Education Workers' Compensation 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 insurance coverage. Additional insurance coverage is provided through an agreement by the Trust with the Midwest Employers Casualty Company to provide coverage for potential losses sustained by the Trust in excess of $500,000.00 loss per occurrence, up to $2,000,000.00. \r\n \r\nThe School District has purchased surety bonds to provide additional insurance coverage as follows: \r\n \r\nPosition Covered \r\n \r\nAmount \r\n \r\nSuperintendent Board Treasurer Board Vice-Treasurer All Employees \r\n \r\n$ 50,000.00 $ 50,000.00 $ 50,000.00 $ 100,000.00 \r\n \r\n-20- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\n \r\nNote 9: LONG-TERM DEBT \r\n \r\nGENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are as follows: \r\n \r\nPurpose \r\n \r\nInterest Rates \r\n \r\nAmount \r\n \r\nGeneral Government - Series 1995 \r\n \r\n4.20% - 5.75% $ 1,335,000.00 \r\n \r\nThe changes in Long-Term Debt during the fiscal year ended June 30, 2007, were as follows: \r\n \r\nGovernmental Fund \r\nGeneral Obligation \r\nBonds \r\n \r\nBalance July 1, 2006 \r\n \r\n$ 1,720,000.00 \r\n \r\nDeductions Debt Retired \r\n \r\n385,000.00 \r\n \r\nBalance June 30, 2007 \r\n \r\n$ 1,335,000.00 \r\n \r\nPortion of Long-Term Debt Due within One Year \r\n \r\n$ 415,000.00 \r\n \r\nAt June 30, 2007, payments due by fiscal year which includes principal and interest for these items are as follows: \r\n \r\nFiscal Year Ended June 30 \r\n \r\nGeneral Obligation \r\n \r\nDebt \r\n \r\nPrincipal \r\n \r\nInterest \r\n \r\n2008 2009 2010 \r\n \r\n$ 415,000.00 $ 445,000.00 475,000.00 \r\n \r\n75,487.50 52,455.00 27,312.50 \r\n \r\nTotal Principal and Interest \r\n \r\n$ 1,335,000.00 $ 155.255.00 \r\n \r\nNote 10: ON-BEHALF PAYMENTS \r\n \r\nThe School District has recognized revenues and costs in the amount of $356,737.29 for health insurance and retirement contributions paid on the School District's behalf by the following State Agencies. \r\n \r\n- 21 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 10: ON-BEHALF PAYMENTS \r\nGeorgia Department of Education Paid to the Georgia Department of Community Health For Health Insurance of Non-Certified Personnel In the amount of $343,155.76 \r\nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $11,198.53 \r\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 $2,383.00 \r\nNote 11: SIGNIFICANT CONTINGENT LIABILITIES \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. The School District believes that such disallowances, if any, will be immaterial to its overall financial position. \r\nThe School District is a defendant in various legal proceedings pertaining to matters incidental to the performance ofroutine School District operations. The ultimate disposition ofthese proceedings is not presently determinable, but is not believed to be material to the basic financial statements. \r\nNote 12: RETIREMENT PLANS \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\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. \r\nTRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe School District who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The School District 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 9.28% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: \r\n- 22 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2007 \r\n \r\nNote 12: RETIREMENT PLANS \r\nFiscal Year 2007 2006 2005 \r\n \r\nPercentage Contributed \r\n100% 100% 100% \r\n \r\nRequired Contribution \r\n$ 1,084,595.25 $ 1,013,959.57 $ 945,764.00 \r\n \r\n- 23 - \r\n \r\n (This page left intentionally blank) \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY GENERAL FUND \r\nSCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL \r\nYEAR ENDED JUNE 30, 2007 \r\n \r\nSCHEDULE \"1\" \r\n \r\nREVENUES \r\nProperty Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous \r\nTotal Revenues \r\nEXPENDITURES \r\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 Enterprise Operations Community Services Food Services Operation \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nOther Sources Other Uses \r\nTotal Other Financing Sources (Uses) \r\nNet Change in Fund Balances \r\nFund Balances - Beginning \r\nAdjustments \r\n \r\nNONAPPROPRIATED BUDGETS \r\n \r\nORIGINAL (1) \r\n \r\nFINAL (1) \r\n \r\nACTUAL AMOUNTS \r\n \r\n$ \r\n \r\n3,609,164.76 $ \r\n \r\n3,609,164.76 $ \r\n \r\n3,672,597.80 \r\n \r\n12,503,276.60 \r\n \r\n12,763,469.60 \r\n \r\n13,212,252.94 \r\n \r\n2,208,890.00 \r\n \r\n2,415,829.49 \r\n \r\n2,490,808.52 \r\n \r\n319,111.00 \r\n \r\n319,111.00 \r\n \r\n503,332.50 \r\n \r\n85,100.00 \r\n \r\n85,100.00 \r\n \r\n90,543.01 \r\n \r\n302,278.00 \r\n \r\n302,278.00 \r\n \r\n798 757.05 \r\n \r\n$ 19,027,820.36 $ 19,494,952.85 $ 20,768,291.82 \r\n \r\n$ 12,695,399.49 $ 12,767,154.73 $ 13,420,286.02 \r\n \r\n790,808.21 394,805.75 476,423.79 548,257.67 1,197,239.43 193,758.35 1,257,952.78 494,743.82 \r\n64,699.99 \r\n178,108.54 1,216,788.02 \r\n \r\n790,808.21 486,175.75 476,423.79 556,263.71 1,211,768.43 193,758.35 1,257,952.78 889,158.02 \r\n525.00 71,887.00 \r\n178,108.54 1,216,788.02 \r\n \r\n1,167,005.91 549,283.95 502,303.41 375,863.22 \r\n1,311,950.36 205,520.38 \r\n1,327,632.19 422,668.35 2,188.52 121,669.05 39,890.46 200,413.79 \r\n1174 071.56 \r\n \r\n$ 19,508,985.84 $ 20,096,772.33 $ 20,820,747.17 \r\n \r\n$ \r\n \r\n-481 165.48 $ \r\n \r\n-601 819.48 $ \r\n \r\n-52 455.35 \r\n \r\n$ \r\n \r\n435,500.00 $ \r\n \r\n435,500.00 \r\n \r\n-35 500.00 \r\n \r\n-35,500.00 $ \r\n \r\n-35 594.39 \r\n \r\n$ \r\n \r\n400 000.00 $ \r\n \r\n400,000.00 $ \r\n \r\n-35 594.39 \r\n \r\n$ \r\n \r\n-81, 165.48 $ \r\n \r\n-201,819.48 $ \r\n \r\n-88,049.74 \r\n \r\n3,725,709.10 \r\n \r\n3,725,709.10 \r\n \r\n3,725,890.10 \r\n \r\n11 298.11 \r\n \r\n11 298.11 \r\n \r\nFund Balances - Ending \r\n \r\n$ \r\n \r\n3,655,841.73 $ \r\n \r\n3,535,187.73 $ \r\n \r\n3,637,840.36 \r\n \r\nNotes to the Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual \r\n \r\n(1) Original and Final Budget amounts do not include budgeted revenues or expenditures of the various principal accounts. \r\n \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- 25 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED JUNE 30, 2007 \r\n \r\nSCHEDULE \"2\" \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 \r\nTotal Child Nutrition Cluster \r\nOther Programs Pass-Through From Georgia Department of Education Food Donation (1) \r\nTotal U. S. Department of Agriculture \r\nEducation, U. S. Department of Special Education Cluster Pass-Through From Georgia Department of Education Special Education Grants to States Preschool Grants \r\nTotal Special Education Cluster \r\nOther Programs Pass-Through From Georgia Department of Education English Language Acquisition Grants Enhancing Education Through Technology Program Hurricane Education Recovery Improving Teacher Quality State Grants Migrant Education Rural Education State Grants for Innovative Programs Title I Grants to Local Educational Agencies Vocational Education - Basic Grants to States \r\nTotal U. S. Department of Education \r\n \r\nCFDA NUMBER \r\n \r\nPASSTHROUGH \r\nENTITY ID \r\nNUMBER \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n* 10.553 * 10.555 \r\n \r\nNIA \r\n \r\n(2) \r\n \r\nN/A $ _--=-1,1.a.0=66=-i.,3=3=5\"-7'.-=-5 \r\n \r\n$ 1,066,335.75 \r\n \r\n10.550 \r\n \r\nN/A \r\n \r\n83,152.21 \r\n \r\n$ _ __,_1,._.1\"\"'49=-i.,4..:.:B..,_7.:..:.9=-6 \r\n \r\n* 84.027 * 84.173 \r\n \r\nN/A $ N/A \r\n$ \r\n \r\n403,136.19 12,768.00 \r\n415,904.19 \r\n \r\n84.365 84.318 84.938 84.367 84.011 84.358 84.298 84.010 84.048 \r\n \r\nN/A \r\n \r\n677.07 \r\n \r\nN/A \r\n \r\n32.00 \r\n \r\nNIA \r\n \r\n(3) \r\n \r\nN/A \r\n \r\n183,931.00 \r\n \r\nN/A \r\n \r\n6,948.30 \r\n \r\nN/A \r\n \r\n82,436.45 \r\n \r\nN/A \r\n \r\n4,238.85 \r\n \r\nN/A \r\n \r\n869,209.90 \r\n \r\nN/A \r\n \r\n31,052.00 \r\n \r\n$ 1,594,429.76 \r\n \r\nTotal Federal Financial Assistance \r\n \r\n$ \r\n \r\nN/A = Not Available \r\n \r\nNotes to the Schedule of Expenditures of Federal Awards \r\n \r\n(1) The amount shown for the Food Donation Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the School District during the current fiscal year. \r\n(2) Expenditures for the funds earned on the School Breakfast Program ($188,616.48) were not maintained separately and are included in the 2007 National School Lunch Program. \r\n(3) Funds earned and expended in the prior year on the Hurricane Education Recovery Act, in the amount of $15,856.00, do not require reporting of expenditures. \r\n \r\nMajor Programs are identified by an asterisk(*) in front of the CFDA number. \r\n \r\nThe School District did not provide Federal Assistance to any Subrecipient. \r\n \r\nThe accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the City of Vidalia 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 fund financial statements. \r\n \r\n2,743,917.72 \r\n \r\nSee notes to the basic financial statements. \r\n \r\n-26- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2007 \r\n \r\nAGENCY/FUNDING \r\nGRANTS Bright From the Start: Georgia Department of Early Care and Learning Pre-Kindergarten Program \r\nEducation, 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 Media Center Program 20 Days Additional Instruction Staff and Professional Development Indirect Cost Central Administration School Administration Facility Maintenance and Operations Categorical Grants Pupil Transportation Regular Bus Replacement Sparsity Nursing Services Principal Supplements Vocational Supervisors Education Equalization Funding Grant Food Services Vocational Education Amended Formula Adjustment Other State Programs Health Insurance High School Graduation Coach Middle School Remediation and Intervention Grant National Teacher Certification Preschool Handicapped Program Special Education Low Incidence Grant Statewide K-8 Reading and Mathematics Program Teachers' Retirement Virtual Schools Grant \r\nGeorgia State Financing and Investment Commission Reimbursement on Construction Projects \r\nOffice of Treasury and Fiscal Services Public School Employees Retirement \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 27 - \r\n \r\nSCHEDULE \"3\" \r\n \r\nGOVERNMENTAL FUND TYPE GENERAL FUND \r\n \r\n$ \r\n \r\n483,396.15 \r\n \r\n837,138.00 123,246.00 1,939,731.00 330,314.00 907,712.00 134,127.00 1,470,949.00 1,211,805.00 467,664.00 923,886.00 91,822.00 81,288.00 116,795.00 222,609.00 69,478.00 47,022.00 \r\n394,022.00 507,332.00 659,323.00 \r\n174,981.00 15,078.00 20,000.00 60,446.00 7,909.00 9,429.00 \r\n1,453,034.00 66,610.00 18,592.00 \r\n-138,419.00 \r\n343,155.76 40,075.00 1,265.00 6,853.00 30,511.00 8,277.00 37,252.50 11,198.53 450.00 \r\n23,513.00 \r\n2,383.00 \r\n$ ====13=,2=1=2=,2=52=.94= \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nYEAR ENDED JUNE 30, 2007 \r\n \r\nSCHEDULE \"4\" \r\n \r\nPROJECT \r\n \r\nORIGINAL ESTIMATED \r\nCOST(1) \r\n \r\nCURRENT ESTIMATED COSTS (2) \r\n \r\nAMOUNT EXPENDED IN CURRENT \r\nYEAR (3) \r\n \r\nAMOUNT EXPENDED \r\nIN PRIOR YEARS (3) \r\n \r\nPROJECT STATUS \r\n \r\nRetirement of the School District's City of Vidalia General Obligation Bonds, Series 1995, in the maximum amount of $4,276,603.00. \r\n \r\n$ 4,276,603.00 $ 4,276,603.00 $ 482,265.00 $ 2,622,242.00 Ongoing \r\n \r\n(i) To purchase textbooks and additional instructional materials and equipment for all sites; (ii) To expand technology usage and improve communication and safety capabilities to include but not be limited to the upgrade of electrical capacity at JDDP, SDM, and VCHS, safety and security upgrades at all facilities, and technology upgrades system-wide; (iii) To acquire, improve and maintain facilities for VCS to include but not be limited to an athletic/physical education training facility at VCHS and JRT; kitchen expansions at VCHS, SDM, and JDDP, and maintain roofing warranties throughout the system; (iv) To expand and maintain student transportation to include but not be limited to purchase of additional student regular transportation and activity buses. \r\n \r\n9,696,000.00 \r\n \r\n9,696,000.00 \r\n \r\n925,069.96 \r\n \r\n2,288,788.00 Ongoing \r\n \r\n$ 13,972,603.00 $ 13,972,603.00 $ 1,407,334.96 $ 4,911,030.00 \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. \r\n(2) The School District's current estimate of total cost for the projects. Includes all cost from project inception to completion. \r\n(3) The voters of Toombs County approved the imposition of a 1% sales tax to fund the above projects. Amounts 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- 28- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY GENERAL FUND- QUALITY BASIC EDUCATION PROGRAM (QBE) \r\nALLOTMENTS AND EXPENDITURES BY PROGRAM YEAR ENDED JUNE 30, 2007 \r\n \r\nSCHEDULE \"5\" \r\n \r\nDESCRIPTION \r\nDirect Instructional Programs 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 Category I Category II Category Ill Category IV Gifted Student - Category VI Remedial Education Program Alternative Education Program \r\nTOTAL DIRECT INSTRUCTIONAL PROGRAMS \r\nMedia Center Program Staff and Professional Development \r\n \r\nALLOTMENTS FROM GEORGIA DEPARTMENT OF EDUCATION (1) (2) \r\n \r\nELIGIBLE QBE PROGRAM COSTS \r\n \r\nSALARIES \r\n \r\nOPERATIONS \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n923,007.00 $ 769,248.51 $ \r\n \r\n37,444.64 $ \r\n \r\n806,693.15 \r\n \r\n139,385.00 \r\n \r\n110,765.22 \r\n \r\n2,563.35 \r\n \r\n113,328.57 \r\n \r\n2,138,666.00 \r\n \r\n1,657,474.38 \r\n \r\n132,205.68 \r\n \r\n1,789,680.06 \r\n \r\n369,207.00 \r\n \r\n404,974.18 \r\n \r\n7,064.03 \r\n \r\n412,038.21 \r\n \r\n1,004,543.00 \r\n \r\n788,849.05 \r\n \r\n99,254.23 \r\n \r\n888,103.28 \r\n \r\n143,834.00 1,630,465.00 1,362,118.00 \r\n507,713.00 1,016,676.00 \r\n100,817.00 80,340.00 \r\n129 248.00 \r\n \r\n211,338.43 1,978,981.46 2,035,345.17 \r\n588,120.71 \r\n558,704.91 428,860.79 251,050.03 \r\n81.53 148,222.21 \r\n88,035.84 97 902.11 \r\n \r\n1,295.01 96,476.26 202,496.54 60,693.75 \r\n12,220.72 3,189.70 \r\n16,559.65 5,430.37 8,445.38 234.10 \r\n168,310.00 \r\n \r\n212,633.44 2,075,457.72 2,237,841.71 \r\n648,814.46 \r\n570,925.63 432,050.49 267,609.68 \r\n5,511.90 156,667.59 \r\n88,269.94 266,212.11 \r\n \r\n$ \r\n \r\n9,546,019.00 $ 10,117,954.53 $ 853,883.41 $ 10,971,837.94 \r\n \r\n286,107.00 52 431.00 \r\n \r\n380,406.98 21,443.91 \r\n \r\n88,640.34 37,915.89 \r\n \r\n469,047.32 59,359.80 \r\n \r\nTOTAL QBE FORMULA FUNDS \r\n \r\n$ \r\n \r\n9,884,557.00 $ 10,519,805.42 $ 980,439.64 $ 11,500,245.06 \r\n \r\n(1) Comprised of State Funds plus Local Five Mill Share. (2) Allotments do not include the impact of the State amended formula adjustment. \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 29- \r\n \r\n SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS \r\n \r\n Russell W. Hinton \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n270 Washington Street, S.W., Suite 1-156 Atlanta, Georgia 30334-8400 \r\nMay 12, 2008 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the City of Vidalia Board of Education \r\nREPORT 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\nLadies and Gentlemen: \r\nWe have audited the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of City of Vidalia Board of Education as of and for the year ended June 30, 2007, which collectively comprise City of Vidalia Board of Education's basic financial statements and have issued our report thereon dated May 12, 2008. We conducted our audit in accordance with auditing standards generally accepted in the United States ofAmerica 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, we considered City of Vidalia Board of Education's internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose ofexpressing an opinion on the effectiveness of the City of Vidalia Board of Education's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the City of Vidalia Board of Education's internal control over financial reporting. \r\nOur consideration of internal control over financial reporting was for the limited purpose described in the preceding paragraph and would not necessarily identify all deficiencies in internal control over financial reporting that might be significant deficiencies or material weaknesses. However, as discussed below, we identified certain deficiencies in internal control over financial reporting that we consider to be significant deficiencies. \r\n2007YB-30 \r\n \r\n A control deficiency exists when the design or operation ofa control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affect the City ofVidalia Board of Education's ability to initiate, authorize, record, process, or report financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement ofthe City of Vidalia Board of Education's financial statements that is more than inconsequential will not be prevented or detected by the City of Vidalia Board of Education's internal control. We consider items FS-7931-07-01, FS-7931-07-02, FS-7931-07-03 and FS-7931-07-04 in the accompanying Schedule of Findings and Questioned Costs to be significant deficiencies in internal control over financial reporting. \r\nA material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material misstatement ofthe financial statements will not be prevented or detected by the City of Vidalia Board of Education's internal control. \r\nOur consideration of the internal control over financial reporting was for the limited purpose described in the first paragraph ofthis section and would not necessarily disclose all deficiencies in internal control that might be significant deficiencies and, accordingly, would not necessarily disclose all significant deficiencies that are also considered to be material weaknesses. However, we believe that none of the significant deficiencies described above are material weaknesses. \r\nCompliance and Other Matters \r\nAs part of obtaining reasonable assurance about whether City of Vidalia Board of Education's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions oflaws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. \r\nWe noted certain matters that we have reported to management of City of Vidalia Board of Education in a separate letter dated May 12, 2008. \r\nCity ofVidalia Board ofEducation's response to the findings identified in our audit is described in the accompanying Schedule ofManagement's Responses. We did not audit City ofVidalia Board of Education's response and, accordingly, we express no opinion on it. \r\n2007YB-30 \r\n \r\n This report is intended solely for the information and use ofthe management, members ofthe City of Vidalia 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. \r\nRespectfully submitted, \r\n~0.4l-h Russell W. Hinton, CPA, CGFM State Auditor \r\nRWH:as 2007YB-30 \r\n \r\n Russell W. Hinton \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n270 Washington Street, S.W., Suite 1-156 Atlanta, Georgia 30334-8400 \r\nMay 12, 2008 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members ofthe City ofVidalia Board ofEducation \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULARA-133 \r\nLadies and Gentlemen: \r\nCompliance \r\nWe have audited the compliance ofCity ofVidalia Board ofEducation with the types ofcompliance requirements described in the U.S. Office of Management and Budget (0MB) Circular A-133 Compliance Supplement that are applicable to each ofits major Federal programs for the year ended June 30, 2007. City of Vidalia Board of Education's major Federal programs are identified in the Summary of Auditor's Results Section ofthe accompanying Schedule ofFindings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility of City of Vidalia Board of Education's management. Our responsibility is to express an opinion on City of Vidalia Board of Education's compliance based on our audit. \r\nWe conducted our audit ofcompliance in accordance with auditing standards generally accepted in the United States ofAmerica; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States; and 0MB Circular A133, 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 City ofVidalia Board ofEducation's compliance with those requirements and performing such other procedures as we considered necessary in the \r\n \r\n2007SA-10 \r\n \r\n circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on City of Vidalia Board of Education's compliance with those requirements. \r\nIn our opinion, the City of Vidalia 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, 2007. \r\nInternal Control Over Compliance \r\nThe management of City of Vidalia 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 City ofVidalia 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 ofexpressing our opinion on compliance, but not for the purpose ofexpressing an opinion on the effectiveness ofinternal control over compliance. Accordingly, we do not express an opinion on the effectiveness ofthe City of Vidalia Board of Education's internal control over compliance. \r\nA control deficiency in an entity's internal control over compliance exists when the design or operation ofa control does not allow management or employees, in the normal course ofperforming their assigned functions, to prevent or detect noncompliance with a type ofcompliance requirement of a Federal program on a timely basis. A significant deficiency is a control deficiency, or combination ofcontrol deficiencies, that adversely affects the entity's ability to administer a Federal program such that there is more than a remote likelihood that noncompliance with a type of compliance requirement of a Federal program that is more than inconsequential will not be prevented or detected by the entity's internal control. \r\nA material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that material noncompliance with a type of compliance requirement of a Federal program will not be prevented or detected by the entity's internal control. \r\nOur consideration ofthe internal control over compliance was for the limited purpose described in the first paragraph of this section and would not necessarily identify all deficiencies in internal control that might be significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. \r\n2007SA-10 \r\n \r\n This report is intended solely for the information and use ofthe management, members ofthe City of Vidalia 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. \r\nRespectfully submitted, \r\n \r\nRWH:as 2007SA-10 \r\n \r\n~~(LJ-~ \r\nRussell W. Hinton, CPA, CGFM \r\nState Auditor \r\n \r\n SECTION III AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2007 \r\n \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER \r\n \r\nAUDITEE'S RESPONSE/STATUS \r\n \r\nSEE AUDITOR'S COMMENTS \r\n \r\nFS-7931-05-01 Further Action Not Warranted \r\n \r\nFS-7931-05-02 Further Action Not Warranted \r\n \r\nFS-7931-06-01 Unresolved - See Corrective Action/ Responses \r\n \r\nFS-7931-06-02 Unresolved - See Corrective Action/ Responses \r\n \r\nFS-7931-06-03 Previously Reported Corrective Action Implemented \r\n \r\nFS-7931-06-04 Further Action Not Warranted \r\n \r\n(1) \r\n \r\nCORRECTIVE ACTION/RESPONSES \r\n \r\nCASH AND CASH EQUIVALENTS REVENUES/RECEIVABLES/RECEIPTS Inadequate Separation ofDuties at the Central Office Finding Control Number: FS-7931-06-01 \r\n \r\nAt this time, the City ofVidalia Board of Education is unable to hire additional staffand will establish procedures requiring review of bank reconciliations by someone outside of the Accounting Department (most likely the Office Manager). Cash receipts will also be logged by someone outside of the Accounting Department. \r\n \r\nCASH AND CASH EQUIVALENTS REVENUES/RECEIVABLES/RECEIPTS EXPENDITURES/LIABILITIES/DISBURSEMENTS Inadequate Internal Controls over School Activity Accounts Finding Control Number: FS-7931-06-02 \r\n \r\nThe City of Vidalia Board of Education recognizes said inadequacies in internal control procedures and is in the process ofestablishing compensating controls. These compensating controls include procedures for review of bank reconciliations by someone from the central office level; establishing deposit procedures requiring that two individuals take responsibility for all deposits; and having periodic reviews done by central office staff. All procedures have not been fully implemented due to time and staff limitations. \r\n \r\n- 1- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2007 \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS AUDITOR'S COMMENTS (1) Findings/internal control deficiencies ofthis nature, that are not deemed significant deficiencies or material weaknesses and do not require reporting in the audit report in accordance with Statements on Auditing Standards (SAS) 112 or Governmental Auditing Standards (Yellow Book), will be communicated in a management letter in subsequent periods. \r\nPRIOR YEAR FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported. \r\n-2- \r\n \r\n SECTION IV FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2007 \r\n \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n \r\n1. Type of Report Issued on the Financial Statements The auditor's opinion on the City of Vidalia Board of Education's financial statements was unqualified. \r\n \r\n2. Significant Deficiencies in Internal Control Disclosed by the Audit ofthe Financial Statements The audit report for the City of Vidalia Board of Education disclosed financial statement significant deficiencies related to the following control categories. \r\n \r\nCash and Cash Equivalents Employee Compensation Revenues/Receivables/Receipts \r\n \r\nExpenditures/Liabilities/Disbursements Financial Reporting \r\n \r\nNone of the significant deficiencies described above are considered to be material weaknesses. \r\n \r\n3. Noncompliance Material to the Financial Statements The audit of the City of Vidalia Board of Education disclosed no instances of noncompliance that were deemed to be material to the financial statements. \r\n \r\n4. Significant Deficiencies in Internal Control Over Major Programs The audit report for the City ofVidalia Board ofEducation did not disclose any significant deficiencies in internal control over major programs. \r\n \r\n5. Type of Report Issued on Compliance for Major Programs The auditor's opinion on the City ofVidalia Board ofEducation's report on compliance with requirements applicable to major programs was unqualified. \r\n \r\n6. Audit Findings Required to be Reported by Section .5 lO(a) of 0MB Circular A-133 The City ofVidalia Board ofEducation's audit did not disclose audit findings required to be reported by section .510(a) ofOMB Circular A-133. \r\n \r\n7. Major Programs Federal awards audited as major programs are as follows: 10.553 Food Services - School Breakfast Program 10.555 Food Services - National School Lunch Program 84.027 Special Education - Grants to States 84.173 Special Education - Preschool Grants \r\n \r\n8. Type \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000.00. \r\n \r\n- 1- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2007 \r\n \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n \r\n9. Low Risk Auditee The City ofVidalia Board ofEducation qualified as a low risk auditee as defined by Section .530 ofOMB Circular A-133. \r\n \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nCASH AND CASH EQUIVALENTS REVENUES/RECEIVABLES/RECEIPTS Inadequate Separation of Duties at the Central Office Significant Deficiency Finding Control Number: FS-7931-07-01 \r\n \r\nCondition: \r\n \r\nThis is a repeat finding (FS-7931-06-01 and FS-7931-05-01) from the years ended June 30, 2006, and June 30, 2005, respectively. The accounting procedures of the School District were insufficient to provide for adequate separation of duties at the Central Office. \r\n \r\nCriteria: \r\n \r\nThe School District's management is responsible for designing and maintaining internal controls that provide proper separation of duties. Such internal controls would limit any one individual's access to both physical assets and the related accounting records. \r\n \r\nQuestioned Cost: NIA \r\n \r\nInformation: \r\n \r\nCash and Cash Equivalents  The bank reconciliation and check signing functions were not separated from check preparation function. \r\n \r\nRevenues/Receivables/Receipts  The bookkeeping function was not separated from the cash receipts function. \r\n \r\nCause: \r\n \r\nThe School District has not assigned responsibilities to achieve appropriate separation of duties nor utilized management oversight of the incompatible activities to properly safeguard assets. \r\n \r\nEffect: \r\n \r\nErrors and/or irregularities may not be detected in a timely manner. \r\n \r\nRecommendation: \r\n \r\nThe School District should implement procedures to ensure that the key accounting functions of custody, record keeping and authorization are separated and/or utilize compensating controls for these incompatible activities. \r\n \r\n-2- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2007 \r\n \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nCASH AND CASH EQUIVALENTS REVENUES/RECEIVABLES/RECEIPTS EXPENDITURES/LIABILITIES/DISBURSEMENTS Inadequate Internal Controls over School Activity Accounts Significant Deficiency Finding Control Number: FS-7931-07-02 \r\n \r\nCondition: \r\n \r\nThis is a repeat finding (FS-7931-06-02 and FS-7931-05-02) from the years ended June 30, 2006, and June 30, 2005, respectively. The accounting procedures of the School District were insufficient to provide for adequate internal controls over the school activity accounts. \r\n \r\nCriteria: \r\n \r\nThe School District's management is responsible for designing and maintaining internal controls that provide reasonable assurance that transactions are processed according to established procedures. \r\n \r\nQuestioned Cost: NIA \r\n \r\nInformation: \r\n \r\nCash and Cash Equivalents  The bank reconciliation function was not separated from the check writing function.  The bank reconciliation was not reviewed by an administrator not directly connected with cash operations. \r\n \r\nRevenues/Receivables/Receipts  The cash receipts function was not separated from the record keeping function.  Based on a review of twenty receipts, all twenty lacked adequate supporting documentation and were not deposited in a timely manner. \r\n \r\nExpenditures/Liabilities/Disbursements  Based on a review of twenty vouchers, the following deficiencies were noted: 1. One voucher failed to include a purchase order. 2. Two purchase orders were completed after the actual purchases. 3. One check failed to include both required signatures. 4. One check was written with the amount left blank so that the vendor could fill in the amount. \r\n \r\n-3- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2007 \r\n \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nCASH AND CASH EQUIVALENTS REVENUES/RECEIVABLES/RECEIPTS EXPENDITURES/LIABILITIES/DISBURSEMENTS Inadequate Internal Controls over School Activity Accounts Significant Deficiency Finding Control Number: FS-7931-07-02 \r\n \r\nCause: \r\n \r\nThese deficiencies were a result of management's decision to limit the number ofadministrative staffmade responsible for accounting functions and management's failure to ensure that internal controls were established, implemented and functioning at the school level. \r\n \r\nEffect: \r\n \r\nErrors and/or irregularities may not be detected in a timely manner. \r\n \r\nRecommendation: \r\n \r\nThe School District should implement procedures to ensure that the key accounting functions of custody, record keeping and authorization are separated and/or utilize oversight for these incompatible activities. In addition, management should monitor controls to provide reasonable assurance that transactions are processed according to established polices and implement those procedures deemed necessary to strengthen internal controls over the accounting functions. \r\n \r\nEMPLOYEE COMPENSATION Inadequate Controls over Payroll Process Significant Deficiency Finding Control Number: FS-7931-07-03 \r\n \r\nCondition: \r\n \r\nThe School District failed to properly deduct excess leave from employees' compensation based on the leave records. In addition, the School District failed to maintain complete personnel files for all employees. \r\n \r\nCriteria: \r\n \r\nThe School District's management is responsible for designing and maintaining internal controls to ensure that the employees are properly paid, that leave records are properly maintained, that excessive leave is properly deducted from employee compensation and that personnel files are properly maintained. \r\n \r\nQuestioned Cost: $5,751.00 \r\n \r\n-4- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2007 \r\n \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nEMPLOYEE COMPENSATION Inadequate Controls over Payroll Process Significant Deficiency Finding Control Number: FS-7931-07-03 \r\n \r\nInformation: \r\n \r\nA review of thirty employees' payroll records revealed the following deficiencies: \r\na) Three employees were overpaid because excessive leave was not properly deducted from their pay. \r\nb) Two personnel files did not contain 1-9, Employment Eligibility Verification forms. \r\nc) Six personnel files contained incomplete 1-9, Employment Eligibility Verification forms. \r\n \r\nCause: \r\n \r\nThese deficiencies were the result of management's failure to ensure that appropriate accounting control procedures were established, implemented and functioning for the employee compensation function. \r\n \r\nEffect: \r\n \r\nErrors and/or irregularities may not be detected in a timely manner. \r\n \r\nRecommendation: \r\n \r\nManagement should develop and implement procedures to ensure that employees are accurately compensated, employee leave records are accurate and that deductions are properly made for excessive leave. In addition, the School District should establish procedures designed to ensure that all personnel files are complete. \r\n \r\nFINANCIAL REPORTING Inadequate Controls over Financial Reporting Significant Deficiency Finding Control Number: FS-7931-07-04 \r\n \r\nCondition: \r\n \r\nThe School District did not have adequate controls in place over the financial statement reporting process. \r\n \r\nCriteria: \r\n \r\nManagement is responsible for having adequate controls over the financial reporting process, which not only includes proper recording oftransactions to the general ledger, but extends to accurate preparation and presentation ofthe financial statements, including note disclosures. \r\n \r\nQuestioned Cost: NIA \r\n \r\n-5- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2007 \r\n \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nFINANCIAL REPORTING Inadequate Controls over Financial Reporting Significant Deficiency Finding Control Number: FS-7931-07-04 \r\n \r\nInformation: \r\n \r\nThe Governmental Accounting Standards Board (GASB) Statement 34 reporting model requires the presentation ofboth fund level and entity-wide level statements in the School District's financial statements. During the audit, several correcting and reclassification entries were proposed by the auditor and accepted by the client to properly present the entity's financial statements. \r\n \r\nCause: \r\n \r\nThe School District did not implement an adequate system ofinternal control over the financial statement reporting process. \r\n \r\nEffect: \r\n \r\nThe School District did not have adequate controls in place to ensure that the financial statements were properly prepared in accordance with generally accepted accounting principles. \r\n \r\nRecommendation: \r\n \r\nThe School District should develop and implement internal controls over the financial statement reporting process to ensure that activity is properly recorded in the general ledger; to verify that financial statements (including note disclosures) properly reflect activity reported in the general ledger; and to include a monitoring process to evaluate the accuracy of the financials presented for audit. \r\n \r\nIII FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \r\n \r\nNo matters were reported. \r\n \r\n-6- \r\n \r\n SECTIONV MANAGEMENT'S RESPONSES \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF MANAGEMENT'S RESPONSES YEAR ENDED JUNE 30, 2007 \r\nFinding Control Number: FS-7931-07-01 \r\nWe concur with this finding. At this time the Board is unable to hire additional staff and will establish procedures requiring review ofbank reconciliations by someone outside ofthe Accounting Department (most likely the Office Manager). Cash receipts will also be logged by someone outside of the Accounting Department. We plan to implement these compensating controls in fiscal year 2008. \r\nFinding Control Number: FS-7931-07-02 \r\nWe concur with this finding. The City ofVidalia Board ofEducation has established procedures for bank reconciliations to be reviewed by someone from the Central Office. The cash receipts function will now require that two individuals will be made responsible for all deposits at the school level both will sign off on the receipt and one will take deposits to the bank. Periodic reviews will be done at the schools by a central office employee to make sure that supporting documentation is being properly provided for all revenue and that purchase orders are produced for all expenditures in a timely manner. These procedures will be established by fiscal year 2008. \r\nFinding Control Number: FS-7931-07-03 \r\nWe concur with this finding. The City of Vidalia Board of Education will implement procedures which will require review ofpersonnel files by two individuals prior to data entry for payroll. The software problem which resulted in the overpayment of the three employees has been corrected. These controls will be implemented in fiscal year 2008. \r\nFinding Control Number: FS-7931-07-04 \r\nWe concur with this finding. The City of Vidalia Board of Education will provide for additional training of financial personnel to ensure that activity is properly recorded in the general ledger; to verify that financial statements properly reflect activity reported; and to include a monitoring process to evaluate the accuracy of the financials presented for audit. \r\nContact Person: Norma D. Croft, Finance Director Phone: (912) 537-3088 Fax: (912) 538-0938 E-mail Address: ncroft@vidalia-city.kl2.ga.us \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b2005-h2006","title":"City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2006","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Toombs County, Vidalia, 32.21769, -82.41346"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["2006-06-30"],"dcterms_description":["Began with: Fiscal year ended June 30, 2000; ceased with: Fiscal year ended June 30, 2008.","Report year covers fiscal year.","Has supplements: City of Vidalia Board of Education, Toombs County, Georgia, schedule of salaries and travel, fiscal year ended June 30, 2000-fiscal year ended June 30, 2002; Report on salary and travel for the fiscal year ended ... (City of Vidalia Board of Education, Ga.), fiscal year ended June 30, 2003-fiscal year ended June 30, 2007; Salaries and travel reimbursement (City of Vidalia Board of Education, Ga.), fiscal year ended June 30, 2008."],"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":["City of Vidalia Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Vidalia--Auditing--Periodicals.","Education--Georgia--Vidalia--Finance--Statistics--Periodicals.","Education--Auditing","Education--Finance","Expenditures, Public","Georgia--Vidalia--fast","Georgia Government Documents--Serial"],"dcterms_title":["City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2006"],"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-be33-bv3-b2005-h2006"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b2005-h2006"],"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":"CITY OF VIDALIA BOARD OF EDUCATION \r\nTOOMBS COUNTY, GEORGIA REPORT ON AUDIT \r\nOF THE FINANCIAL STATEMENTS \r\nFOR THE FISCAL YEAR ENDED JUNE 30, 2006 \r\nSTATE OF GEORGIA \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\nRussell W. Hinton State Auditor \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON BASIC FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION - SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\nEXHIBITS \r\n \r\nBASIC FINANCIAL STATEMENTS \r\n \r\nDISTRICT-WIDE FINANCIAL STATEMENTS \r\n \r\nA \r\n \r\nSTATEMENT OF NET ASSETS \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\n4 \r\n \r\nD \r\n \r\nRECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET \r\n \r\nTO THE STATEMENT OF NET ASSETS \r\n \r\n5 \r\n \r\nE \r\n \r\nSTATEMENT OF REVENUES, EXPENDITURES AND CHANGES \r\n \r\nIN FUND BALANCES \r\n \r\nGOVERNMENTAL FUNDS \r\n \r\n6 \r\n \r\nF \r\n \r\nRECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT \r\n \r\nOF REVENUES, EXPENDITURES AND CHANGES IN FUND \r\n \r\nBALANCES TO THE STATEMENT OF ACTIVITIES \r\n \r\n7 \r\n \r\nG \r\n \r\nSTATEMENT OF FIDUCIARY NET ASSETS \r\n \r\nFIDUCIARY FUNDS \r\n \r\n8 \r\n \r\nH \r\n \r\nSTATEMENT OF CHANGES IN FIDUCIARY NET ASSETS \r\n \r\nFIDUCIARY FUNDS \r\n \r\n9 \r\n \r\nI \r\n \r\nNOTES TO THE BASIC FINANCIAL STATEMENTS \r\n \r\n11 \r\n \r\nSCHEDULES \r\n \r\nREQUIRED SUPPLEMENTARY INFORMATION \r\n \r\n1 SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES \r\n \r\nIN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\nGENERAL FUND \r\n \r\n25 \r\n \r\nSUPPLEMENTARY INFORMATION \r\n \r\n2 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\n26 \r\n \r\n3 SCHEDULE OF STATE REVENUE \r\n \r\n27 \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nSCHEDULES \r\n \r\nSUPPLEMENTARY INFORMATION \r\n \r\n4 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\n \r\n28 \r\n \r\n5 ALLOTMENTS AND EXPENDITURES \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS (QBE) \r\n \r\nBY PROGRAM \r\n \r\n29 \r\n \r\nSECTION II \r\nCOMPLIANCE AND INTERNAL CONTROL REPORTS \r\nREPORT 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\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULAR A-133 \r\n \r\nSECTION III AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\nSECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS - \r\nSECTIONV MANAGEMENT'S RESPONSES SCHEDULE OF MANAGEMENT'S RESPONSES \r\n \r\n SECTION I FINANCIAL \r\n \r\n Russell W. Hinton \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n270 Washington Street, S.W., Suite 1-156 Atlanta, Georgia 30334-8400 \r\nJanuary 22, 2007 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the City of Vidalia Board of Education \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON BASIC FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION - SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nLadies and Gentlemen: \r\nWe have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information (Exhibits A through I) of the City of Vidalia Board of Education, as of and for the year ended June 30, 2006, which collectively comprise the Board's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the City ofVidalia Board of Education's management. Our responsibility is to express opinions on these financial statements based on our audit. \r\nWe conducted our audit in accordance with auditing standards generally accepted in the United States ofAmerica and the standards applicable to financial audits contained in 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 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 opm1ons. \r\nIn our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Vidalia Board of Education, as of June 30, 2006, and the respective changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. \r\n2006ARL-11 \r\n \r\n The City of Vidalia Board of Education has not presented Management's Discussion and Analysis that accounting principles generally accepted in the United States has determined is necessary to supplement, although not to be part of, the basic financial statements. \r\nIn accordance with Government Auditing Standards, we have also issued our report dated January 22, 2007, on our consideration ofthe City ofVidalia Board of Education's internal control over financial reporting and our tests of its compliance with certain provisions oflaws, regulations, contracts and grant agreements and other matters. The purpose ofthat report is 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 internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. \r\nThe Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual, as presented on page 25, is not a required part of the basic financial statements but is supplementary information required by the accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods ofmeasurement and presentation ofthe required supplementary information. However, we did not audit the information and express no opinion on it. \r\nOur audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City of Vidalia Board of Education's basic financial statements. The accompanying supplementary information which consist of Schedules 2 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 basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements, and in our opinion, is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. \r\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. \r\nRespectfully submitted, \r\n'\":tuw~~to~~' ~~ State Auditor \r\nRWH:gp 2006ARL-11 \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION -TOOMBS COUNTY STATEMENT OF NET ASSETS JUNE 30, 2006 \r\n \r\nEXHIBIT\"A\" \r\n \r\nASSETS \r\nCash and Cash Equivalents Investments Accounts Receivable, Net \r\nTaxes State Government Federal Government Other Inventories Capital Assets Land Construction in Progress Land Improvements Buildings Equipment Less: Accumulated Depreciation \r\nTotal Assets \r\nLIABILITIES \r\nAccounts Payable Salaries Payable Retainages Payable Long-Term Liabilities \r\nDue Within One Year Due in More Than One Year \r\nTotal Liabilities \r\nNET ASSETS \r\nInvested in Capital Assets, Net of Related Debt Restricted for \r\nContinuation of Federal Programs Debt Service Capital Projects Unrestricted \r\nTotal Net Assets \r\nTotal Liabilities and Net Assets \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n-1- \r\n \r\nGOVERNMENTAL ACTIVITIES \r\n \r\n$ \r\n \r\n3,502,447 \r\n \r\n1,422,895 \r\n \r\n1,365,196 1,403,356 \r\n205,286 11,702 27,241 \r\n \r\n722,804 2,212,551 2,587,808 16,094,072 1,390,032 -5,382,160 \r\n \r\n$ ===2=5=,5=6=3,=23=0= \r\n \r\n$ \r\n \r\n709 \r\n \r\n1,946,023 \r\n \r\n106,133 \r\n \r\n385,000 1,335,000 \r\n \r\n$ \r\n \r\n3,772,865 \r\n \r\n$ \r\n \r\n15,905,107 \r\n \r\n389,624 1,946,151 \r\n129,939 3,419 544 \r\n \r\n$ \r\n \r\n21,790,365 \r\n \r\n$ ===2=5=,5=6=3,=23=0= \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION -TOOMBS COUNTY STATEMENT OF ACTIVITIES \r\nFOR THE YEAR ENDED JUNE 30, 2006 \r\n \r\nGOVERNMENTAL ACTIVITIES \r\nInstruction Support Services \r\nPupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services Operations of Non-Instructional Services Enterprise Operations Community Services Food Services Interest on Short-Term and Long-Term Debt \r\nTotal Governmental Activities \r\nGeneral Revenues Taxes Property Taxes For Maintenance and Operations Sales Taxes Special Purpose Local Option Sales Tax For Capital Projects Grants and Contributions not Restricted to Specific Programs Investment Earnings Miscellaneous \r\nTotal General Revenues \r\nChange in Net Assets \r\nNet Assets - Beginning of Year \r\n \r\nEXPENSES \r\n \r\nCHARGES FOR SERVICES \r\n \r\n$ \r\n \r\n12,320,434 $ \r\n \r\n869,198 590,230 482,113 400,535 1,180,173 177,449 1,208,693 517,620 \r\n99,292 \r\n \r\n345,287 228,467 1,128,131 115 730 \r\n \r\n$====1=9,=66=3=,3=52= $ \r\n \r\n298,033 \r\n237,669 168,871 280,243 984 816 \r\n \r\nNet Assets - End of Year \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n-2- \r\n \r\n EXHIBIT\"B\" \r\n \r\nPROGRAM REVENUES \r\n \r\nOPERATING \r\n \r\nCAPITAL \r\n \r\nGRANTS AND \r\n \r\nGRANTS AND \r\n \r\nCONTRIBUTIONS CONTRIBUTIONS \r\n \r\nNET (EXPENSES) REVENUES \r\nAND CHANGES IN NET ASSETS \r\n \r\n$ \r\n \r\n9,630,631 \r\n \r\n173,870 226,546 276,232 460,710 577,953 \r\n1,705 667,585 245,151 $ \r\n43,888 \r\n \r\n14,560 867,590 \r\n \r\n$ \r\n \r\n13 186 421 $ \r\n \r\n$ 23,581 23 581 $ \r\n \r\n-2,391,770 \r\n-695,328 -363,684 -205,881 \r\n60,175 -602,220 -175,744 -541, 108 -248,888 \r\n-55,404 \r\n-107,618 -45,036 19,702 \r\n-115 730 \r\n-5,468,534 \r\n \r\n$ \r\n \r\n3,770,010 \r\n \r\n2,045,293 1,203,701 \r\n117,905 269 285 \r\n \r\n$ \r\n \r\n7,406 194 \r\n \r\n$ \r\n \r\n1,937,660 \r\n \r\n19,852,705 \r\n \r\n$ ===21=7=9=0=,3=65= \r\n \r\n-3- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION -TOOMBS COUNTY BALANCE SHEET \r\nGOVERNMENTAL FUNDS JUNE 30, 2006 \r\n \r\nEXHIBIT \"C\" \r\n \r\nASSETS \r\nCash and Cash Equivalents Investments Accounts Receivable, Net \r\nTaxes State Government Federal Government Other Inventories \r\n \r\nGENERAL FUND \r\n \r\nDISTRICTWIDE \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 1,717,777 \r\n1,422,895 \r\n884,365 $ \r\n1,403,356 205,286 11,702 27 241 \r\n \r\n$ 1,946,151 $ 3,663,928 \r\n1,422,895 \r\n \r\n397,553 \r\n \r\n1,281,918 1,403,356 \r\n205,286 11,702 27 241 \r\n \r\nTotal Assets \r\n \r\n$ 5,672,622 $ 397,553 $ 1,946,151 $ 8,016,326 \r\n \r\nLIABILITIES AND FUND BALANCES \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Retainages Payable \r\nTotal Liabilities \r\nFUND BALANCES \r\nReserved for: Continuation of Federal Programs Debt Service Inventories Capital Projects \r\nUnreserved Undesignated Reported in: General Fund \r\nTotal Fund Balances \r\n \r\n$ \r\n \r\n$ \r\n \r\n709 \r\n \r\n1,946,023 \r\n \r\n$ 1,946,732 $ \r\n \r\n161,481 \r\n106,133 267 614 \r\n \r\n$ \r\n \r\n161,481 \r\n \r\n709 \r\n \r\n1,946,023 \r\n \r\n106 133 \r\n \r\n$ 2,214,346 \r\n \r\n$ 362,383 \r\n \r\n$ 362,383 \r\n \r\n$ 1,946,151 \r\n \r\n1,946,151 \r\n \r\n27,241 \r\n \r\n27,241 \r\n \r\n$ \r\n \r\n129,939 \r\n \r\n129,939 \r\n \r\n3,336,266 \r\n$ 3,725,890 $ \r\n \r\n3,336,266 \r\n129,939 $ 1,946 151 $ 5,801,980 \r\n \r\nTotal Liabilities and Fund Balances \r\n \r\n$ 5,672,622 $ 397 553 $ 1 946 151 $ 8,016,326 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -4- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET \r\nTO THE STATEMENT OF NET ASSETS JUNE 30, 2006 \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 Assets are different because: \r\nCapital Assets used in Governmental Activities are not financial resources and therefore are not reported in the funds. These assets consist of: \r\nLand Construction in Progress Land Improvements Buildings Equipment Accumulated Depreciation \r\nTotal Capital Assets \r\nSome of the School District's property tax revenues will be collected after year-end but are not available soon enough to pay for the current period's expenditures. \r\nBonds Payable, which are Long-Term Liabilities, are not due and payable in the current period and therefore are not reported as liabilities in the funds. \r\n \r\n$ \r\n \r\n5,801,980 \r\n \r\n$ \r\n \r\n722,804 \r\n \r\n2,212,551 \r\n \r\n2,587,808 \r\n \r\n16,094,072 \r\n \r\n1,390,032 \r\n \r\n-5,382, 160 \r\n \r\n17,625,107 \r\n \r\n83,278 -1,720000 \r\n \r\nNet Assets of Governmental Activities (Exhibit \"A\") \r\n \r\n$ 21,790365 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -5- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nGOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2006 \r\n \r\nEXHIBIT\"E\" \r\n \r\nREVENUES \r\nProperty Taxes Sales Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous \r\nTotal Revenues \r\nEXPENDITURES \r\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 Other Support Services Enterprise Operations Community Services Food Services Operation \r\nCapital Outlay Debt Services \r\nPrincipal Interest \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nTransfers In Transfers Out \r\nTotal Other Financing Sources (Uses) \r\nNet Change in Fund Balances \r\nFund Balances - Beginning \r\n \r\nGENERAL FUND \r\n \r\nDISTRICTWIDE \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 3,738,958 $ \r\n11,866,613 2,547,090 \r\n984,816 76,135 \r\n291,562 \r\n \r\n2,045,293 7,957 $ \r\n \r\n$ 19,505,174 $ 2,053,250 $ \r\n \r\n$ 3,738,958 \r\n \r\n2,045,293 \r\n \r\n11,866,613 \r\n \r\n2,547,090 \r\n \r\n984,816 \r\n \r\n33,813 \r\n \r\n117,905 \r\n \r\n291,562 \r\n \r\n33,813 $ 21,592,237 \r\n \r\n$ 11,989,467 \r\n \r\n863,629 590,230 467,777 394,239 1,171,901 175,774 1,191,783 503,552 \r\n99,292 230,816 228,467 1,101,403 \r\n10,325 $ \r\n \r\n$ 3,140,934 \r\n \r\n$ 19,018,655 $ 3,140,934 $ $ 486,519 $ -1,087,684 $ \r\n \r\n$ 11,989,467 \r\n \r\n863,629 \r\n \r\n590,230 \r\n \r\n467,777 \r\n \r\n394,239 \r\n \r\n1,171,901 \r\n \r\n795 \r\n \r\n176,569 \r\n \r\n1,191,783 \r\n \r\n503,552 \r\n \r\n99,292 \r\n \r\n230,816 \r\n \r\n228,467 \r\n \r\n1,101,403 \r\n \r\n3,151,259 \r\n \r\n360,000 115,730 \r\n \r\n360,000 115,730 \r\n \r\n476,525 $ 22,636,114 \r\n \r\n-442,712 $ -1,043,877 \r\n \r\n$ $ -745187 \r\n$ -745187 $ $ -258,668 $ \r\n3,984,558 \r\n \r\n745,187 \r\n \r\n$ 745,187 -745 187 \r\n \r\n745 187 \r\n \r\n$ \r\n \r\n0 \r\n \r\n-342,497 $ -442,712 $ -1,043,877 \r\n \r\n472,436 \r\n \r\n2,388,863 \r\n \r\n6,845,857 \r\n \r\nFund Balances - Ending \r\n \r\n$ 3,725,890 $ 129,939 $ 1,946,151 $ 5,801,980 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -6- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF \r\nREVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES JUNE 30, 2006 \r\n \r\nEXHIBIT \"F\" \r\n \r\nTotal Net Change in Fund Balances - Governmental Funds (Exhibit \"E\") \r\n \r\n$ -1,043,877 \r\n \r\nAmounts reported for Governmental Activities in the Statement of Activities are different because: \r\n \r\nCapital Outlays are reported as expenditures in Governmental Funds. However, in the Statement of Activities, the cost of Capital Assets is allocated over their estimated useful lives as depreciation expense. In the current period, these amounts are: \r\n \r\nCapital Outlay Depreciation Expense \r\nExcess of Capital Outlay over Depreciation Expense \r\n \r\n$ \r\n \r\n3,031,499 \r\n \r\n-418,737 \r\n \r\n2,612,762 \r\n \r\nBecause some property taxes will not be collected for several months after the School District's fiscal year ends, they are not considered \"available\" revenues. \r\n \r\n31,052 \r\n \r\nIn the Statement of Activities, only the loss on the sale of the building is reported, whereas in the Governmental Funds, the entire proceeds from the sale increase financial resources. Thus, the change in net assets differs from the change in fund balances by the carrying value of the building sold. \r\n \r\n-22,277 \r\n \r\nRepayment of Long-Term Debt is reported as an expenditure in Governmental Funds, but the repayment reduces Long-Term Liabilities in the Statement of Net Assets. In the current year, this amount consists of Bond Principal Retirements. \r\n \r\n360 000 \r\n \r\nChange in Net Assets of Governmental Activities (Exhibit \"B\") \r\n \r\n$ ==1=,9=3=7=,6=60= \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -7- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION -TOOMBS COUNTY STATEMENT OF FIDUCIARY NET ASSETS FIDUCIARY FUNDS JUNE 30, 2006 \r\n \r\nEXHIBIT \"G\" \r\n \r\nASSETS Cash and Cash Equivalents Investments \r\nCommon Stock \r\nTotal Assets \r\nLIABILITIES Funds Held for Others \r\nNET ASSETS Held in Trust for Private Purposes \r\nTotal Liabilities and Net Assets \r\n \r\nPRIVATE PURPOSE TRUSTS \r\n \r\nAGENCY FUNDS \r\n \r\n$ \r\n \r\n907 $ \r\n \r\n33,150 \r\n \r\n617 \r\n \r\n$ \r\n \r\n1,524 $ ===33====15=0= \r\n \r\n$ \r\n \r\n33,150 \r\n \r\n$ -------'1'--'--52.c;..4~ \r\n \r\n$ \r\n \r\n1,524 $ ===3=3,=15=0= \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -8- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION -TOOMBS COUNTY STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS FIDUCIARY FUNDS YEAR ENDED JUNE 30, 2006 \r\n \r\nEXHIBIT\"H\" \r\n \r\nADDITIONS Investment Earnings Net Increase (Decrease) in Fair Value of Investments Dividends Total Additions \r\nDEDUCTIONS None Reported Change in Net Assets \r\nNet Assets - Beginning \r\nNet Assets - Ending \r\n \r\nPRIVATE PURPOSE TRUSTS \r\n \r\n$ \r\n \r\n214 \r\n \r\n71 \r\n \r\n$ \r\n \r\n285 \r\n \r\n0 \r\n \r\n$ \r\n \r\n285 \r\n \r\n1 239 \r\n \r\n$ ======1,=52=4= \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -9 - \r\n \r\n (This page left intentionally blank) \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\nNote 1: DESCRIPTION OF SCHOOL DISTRICT AND REPORTING ENTITY \r\nREPORTING ENTITY \r\nThe City ofVidalia Board ofEducation (School District) 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 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\nBASIS OF PRESENTATION \r\nThe School District's basic financial statements are collectively comprised of the District-wide financial statements, fund financial statements and notes to the basic financial statements ofthe City of Vidalia Board of Education. \r\nDistrict-wide Statements: The Statement ofNet Assets and the Statement ofActivities display information about the financial activities ofthe overall School District, except for fiduciary activities. 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 Activities presents a comparison between direct expenses and program revenues for each function of the School District's governmental activities. \r\n Direct 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 ofthe School District's programs, such as office and maintenance personnel and accounting) are not allocated to programs. \r\n Program revenues include (a) charges paid by the recipients ofgoods 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: The fund financial statements provide information about the School District's funds, including fiduciary funds. Eliminations have been made to minimize the double counting ofinternal activities. Separate statements for each category (governmental and fiduciary) are presented. The emphasis of fund financial statements is on major governmental funds, each displayed in a separate column. \r\n- 11 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nThe School District reports the following major governmental funds: \r\n General Fund is the School District's primary operating fund. It accounts for all financial resources ofthe School District, except those resources required to be accounted for in another fund. \r\n District-wide Capital Projects Fund accounts for financial resources including Special Purpose Local Option Sales Tax (SPLOST) to be used for the acquisition, construction or renovation of major capital facilities. \r\n Debt Service Fund accounts for taxes (sales) legally restricted for the payment of general longterm principal, interest and paying agent's fees. \r\nThe School District reports the following fiduciary fund types: \r\n Private Purpose Trust fund reports a trust arrangement under which income may be expended to provide college scholarships to Vidalia City High School seniors. \r\n Agency funds account for assets held by the School District as an agent for various funds, governments or individuals. \r\nBASIS OF ACCOUNTING \r\nThe basis of accounting determines when transactions are reported on the financial statements. The District-wide governmental and fiduciary fund 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 ofaccounting. Under this method, revenues are recognized when measurable and available. The School District considers all revenues reported in the governmental funds to be available if they are collected within sixty days after year-end. Property taxes, sales taxes and \r\n- 12 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\ninterest 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 and acquisitions under capital leases are reported as other financing sources. \r\nThe School District funds certain programs by a combination ofspecific cost-reimbursement grants, categorical grants, and general revenues. Thus, when program costs are incurred, there are both restricted and unrestricted net assets 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\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist of cash on hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition in authorized financial institutions. Georgia Laws OCGA 45-8-14 authorize the School District to deposit its funds in one or more solvent banks or insured Federal savings and loan associations. \r\nINVESTMENTS \r\nCOMPOSITION OF INVESTMENTS Investments made by the School District in nonparticipating interest-earning contracts (such as certificates ofdeposit) 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 and equity investments are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the School District to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following: \r\n(1) Obligations issued by the State of Georgia or by other states, \r\n(2) Obligations issued by the United States government, \r\n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \r\n(4) Obligations of any corporation of the United States government, \r\n(5) Prime banker's acceptances, \r\n- 13 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\n(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services, \r\n \r\n(7) Repurchase agreements, and \r\n \r\n(8) Obligations of other political subdivisions of the State of Georgia. \r\n \r\nThe School District does not have a formal policy regarding investment policies that address credit risks, custodial credit risks, concentration ofcredit risks, interest rate risks or foreign currency risks. \r\n \r\nRECEIVABLES \r\n \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\n \r\nPROPERTY TAXES \r\n \r\nThe City of Vidalia fixed the property tax levy for the 2005 tax digest year (calendar year) on October 28, 2005 (levy date). Taxes were due on December 30, 2005 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2005 tax digest are reported as revenue in the governmental funds for fiscal year 2006. The Vidalia City Clerk bills and collects the property taxes for the School District and remits the balance oftaxes collected to the School District. Property tax revenues, at the fund reporting level, during the fiscal year ended June 30, 2006, for maintenance and operations amounted to $3,738,958. \r\n \r\nThe tax millage rate levied for the 2005 tax year (calendar year) for the City of Vidalia Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n14.936 mills \r\n \r\nSALES TAXES \r\n \r\nSpecial Purpose Local Option Sales Tax, at the fund reporting level, during the year amounted to $2,045,293 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\n \r\n- 14 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\n \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES On 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 (first-in, first-out). 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\n \r\nCAPITAL ASSETS \r\n \r\nCapital assets purchased, including capital outlay costs, are recorded as expenditures in the fund financial statements at the time of purchase (including ancillary charges). On the District-wide financial statements, all purchased capital assets are valued 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 estimated fair market value on the date donated. Disposals are deleted at depreciated recorded cost. 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. Depreciation is computed using the straight-line method. The School District does not capitalize book collections or works of art. \r\n \r\nCapitalization thresholds and estimated useful lives of capital assets reported in the District-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 \r\n \r\n$ \r\n \r\n10,000 \r\n \r\nNIA \r\n \r\n$ \r\n \r\n10,000 \r\n \r\n60 years \r\n \r\n$ \r\n \r\n10,000 25 to 60 years \r\n \r\n$ \r\n \r\n10,000 10 to 15 years \r\n \r\nDepreciation is used to allocate the actual or estimated historical cost of all capital assets over estimated useful lives. \r\n \r\nGENERAL OBLIGATION BONDS \r\n \r\nThe School District issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond issuance costs are recognized in the financial statements during the fiscal year bonds are issued. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the Statement of Net Assets. \r\n \r\n- 15 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\nNote 3: DEPOSITS AND INVESTMENTS \r\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 ofmoney which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate ofthe face value of such surety bond and the market value of securities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. Ifa depository elects the pooled method (OCGA 45-8-13 .1) the aggregate ofthe market value ofthe securities pledged to secure a pool ofpublic funds shall be not less than 110 percent ofthe daily pool balance. \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 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 At June 30, 2006, the bank balances were $6,467,136. The amounts of the total bank balances are classified into four categories of custodial credit risk: \r\nCategory 1 - Cash that is insured (e.g., Federal Deposit Insurance) or collateralized with securities held by the School District or by the School District's agent in the School District's name. \r\n- 16 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\n \r\nNote 3: DEPOSITS AND INVESTMENTS \r\n \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the School District's name. \r\nCategory 3 - Cash collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the School District's name. \r\nCategory 4 - Uncollateralized. \r\n \r\nThe School District's deposits are classified by custodial credit risk category at June 30, 2006, as follows: \r\n \r\nCustodial Credit Risk Category \r\n \r\nBank Balance \r\n \r\n1 \r\n \r\n$ 2,483,918 \r\n \r\n2 \r\n \r\n147,489 \r\n \r\n3 \r\n \r\n3,835,729 \r\n \r\n4 \r\n \r\n0 \r\n \r\nTotal \r\n \r\n$ 6,467.136 \r\n \r\nCATEGORIZATION OF INVESTMENTS Custodial Credit Risk Custodial credit risk for investments is the risk that, in the event of a failure ofthe counterparty to a transaction, the School District will not be able to recover the value of the investment or collateral securities that are in the possession of an outside party. The School District does not have a formal policy for managing custodial credit risk. \r\n \r\nInvestments are classified as to custodial credit risk by the categories described below: \r\n \r\nCategory 1 - Insured or registered, or securities held by the School District or the School District's agent in the School District's name. \r\nCategory 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the School District's name. \r\nCategory 3 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent, but not in the School District's name. \r\n \r\nAt June 30, 2006, the fair value of the School District's total investments was $617 and this entire amount consisted ofcommon stock which was insured or registered, or securities held by the School District or the School District's agent in the School District's name. \r\n \r\n- 17 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\n \r\nNote 4: NON-MONETARY TRANSACTIONS \r\n \r\nThe School District receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 2 - Inventories \r\n \r\nNote 5: CAPITAL ASSETS \r\n \r\nThe following is a summary of changes in the Capital Assets during the fiscal year: \r\n \r\nBalances July 1, 2005 \r\n \r\nIncreases \r\n \r\nBalances Decreases June 30, 2006 \r\n \r\nGovernmental Activities Capital Assets, Not Being Depreciated: \r\nLand Construction in Progress \r\n \r\n$ 468,425 $ 254,379 \r\n \r\n$ 722,804 \r\n \r\n1,362,253 \r\n \r\n2,212,551 $ 1,362,253 \r\n \r\n2,212,551 \r\n \r\nTotal Capital Assets Not Being Depreciated $ 1,830,678 $ 2,466,930 $ 1,362,253 $ 2,935,355 \r\n \r\nCapital Assets Being Depreciated Buildings and Improvements Equipment Land Improvements \r\n \r\n$ 15,810,349 $ 1,259,439 1,113,711 \r\n \r\n322,132 $ 130,593 1,474,097 \r\n \r\n38,409 $ 16,094,072 1,390,032 2,587,808 \r\n \r\nLess Accumulated Depreciation for: Buildings and Improvements Equipment Land Improvements \r\n \r\n4,092,178 690,476 196,901 \r\n \r\n280,600 107,805 30,332 \r\n \r\n16,132 \r\n \r\n4,356,646 798,281 227.233 \r\n \r\nTotal Capital Assets, Being Depreciated, Net $ 13,203,944 $ 1,508,085 $ \r\n \r\n22,277 $ 14,689,752 \r\n \r\nGovernmental Activity Capital Assets - Net $ 15,034,622 $ 3,215,015 $ 1,384,530 $ 11,625,107 \r\n \r\nCurrent year depreciation expense by function is as follows: \r\n \r\nInstruction Support Services \r\nPupil Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Enterprise Operations Food Services \r\n \r\n$ 207,129 \r\n \r\n$ \r\n \r\n3,485 \r\n \r\n8,972 \r\n \r\n3,940 \r\n \r\n5,177 \r\n \r\n551 \r\n \r\n10,583 \r\n \r\n90,534 \r\n \r\n123,242 71,639 16,727 \r\n \r\n$======4==18-,7===3===7 \r\n \r\n- 18 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\n \r\nNote 6: RESTRICTED ASSETS \r\n \r\nSpecial Purpose Local Option Sales Tax (SPLOST) is reported as restricted assets in the Statement ofNet Assets because its use is limited by statutory provisions. Restricted assets at June 30, 2006, were as follows: \r\n \r\nDebt Service Funds \r\n \r\nRestricted Cash and Cash Equivalents: Debt Services \r\n \r\n$ 1,946,151 \r\n \r\nNote 7: INTERFUND TRANSFERS \r\n \r\nInterfund transfers for the year ended June 30, 2006, consisted of the following: \r\n \r\nTransfer to \r\n \r\nTransfers From General Fund \r\n \r\nDistrict-wide Capital Projects \r\n \r\n$==\"\"\"7=\"45='=1\"'=8=\"=7 \r\n \r\nTransfers are used to move property tax revenues collected by the General Fund to the District-wide Capital Projects Fund as supplemental funding source for capital construction projects. \r\n \r\nNote 8: RISK MANAGEMENT \r\n \r\nThe School District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; acts of God and unemployment compensation. \r\n \r\nThe School District has obtained commercial insurance for risk of loss associated with torts, assets and errors or omissions. The School District has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the School District's insurance coverage in any of the past three years. \r\n \r\nThe School District has elected to self-insure for all losses related to acts of God. The School District has not experienced any losses related to this risk in the past three years. \r\n \r\nThe School District is self-insured with regard to unemployment compensation claims. The School District accounts for claims within the same fund that the employee's salary and benefits were paid. Claims are accounted for with expenditure and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. \r\n \r\n- 19 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 8: RISK MANAGEMENT \r\n \r\nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \r\n \r\n2005 2006 \r\n \r\nBeginning of Year Liability \r\n \r\nClaims and Changes in Estimates \r\n \r\nClaims Paid \r\n \r\nEnd of Year Liability \r\n \r\n$ \r\n \r\n560 $ \r\n \r\n0 $ \r\n \r\n560 $ \r\n \r\n0 \r\n \r\n$ \r\n \r\n0 $ \r\n \r\n0 $ \r\n \r\n0 $ \r\n \r\n0 \r\n \r\nThe School District participates in the Georgia Education Workers' Compensation 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 insurance coverage. Additional insurance coverage is provided through an agreement by the Trust with the Midwest Employers Casualty Company to provide coverage for potential losses sustained by the Trust in excess of $500,000 loss per occurrence, up to $2,000,000. \r\n \r\nThe School District has purchased surety bonds to provide additional insurance coverage as follows: \r\n \r\nPosition Covered \r\n \r\nAmount \r\n \r\nSuperintendent Board Treasurer Board Vice-Treasurer All Employees \r\n \r\n$ \r\n \r\n50,000 \r\n \r\n$ \r\n \r\n50,000 \r\n \r\n$ \r\n \r\n50,000 \r\n \r\n$ 100,000 \r\n \r\nNote 9: LONG-TERM DEBT \r\n \r\nGENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are as follows: \r\n \r\nPurpose \r\n \r\nInterest Rates \r\n \r\nAmount \r\n \r\nGeneral Government - Series 1995 \r\n \r\n4.20% - 5.75% $ 1,720.000 \r\n \r\n- 20 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\n \r\nNote 9: LONG-TERM DEBT \r\n \r\nThe changes in Long-Term Debt during the fiscal year ended June 30, 2006, were as follows: \r\n \r\nGovernmental Funds General \r\nObligation Bonds \r\n \r\nBalance July 1, 2005 \r\n \r\n$ 2,080,000 \r\n \r\nDeductions Debt Retired \r\n \r\n360,000 \r\n \r\nBalance June 30, 2006 \r\n \r\n$ 1,720.000 \r\n \r\nPortion of Long-Term Debt Due within One Year \r\n \r\n$ 385,000 \r\n \r\nAt June 30, 2006, payments due by fiscal year which includes principal and interest for these items are as follows: \r\n \r\nFiscal Year Ended June 30 \r\n \r\nGeneral Obligation \r\n \r\nDebt \r\n \r\nPrincipal \r\n \r\nInterest \r\n \r\n2007 2008 2009 2010 \r\n \r\n$ 385,000 $ 415,000 445,000 475 000 \r\n \r\n96,470 75,488 52,455 27,313 \r\n \r\nTotal Principal and Interest \r\n \r\n$ 1,720,000 $ 251,726 \r\n \r\nNote 10: SIGNIFICANT COMMITMENTS \r\n \r\nThe following is an analysis ofsignificant outstanding construction or renovation contracts executed by the School District as of June 30, 2006: \r\n \r\n- 21 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\n \r\nNote 10: SIGNIFICANT COMMITMENTS \r\n \r\nProject \r\nVidalia High School Science/Technology Lab \r\nVidalia High School Football Stadium - Phase 2 \r\n \r\nUnearned Executed Contracts \r\n \r\n$ \r\n \r\n30,423 \r\n \r\n669,174 \r\n \r\n$=====6-99=\",5=\"9=\"'7 The amounts described in this note are not reflected in the basic financial statements. \r\n \r\nNote 11: SIGNIFICANT CONTINGENT LIABILITIES \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by granter agencies. This could result in requests for reimbursement to the granter agency for any costs which are disallowed under grant terms. The School District believes that such disallowances, if any, will be immaterial to its overall financial position. \r\n \r\nThe School District is a defendant in various legal proceedings pertaining to matters incidental to the performance ofroutine School District operations. The ultimate disposition ofthese proceedings is not presently determinable, but is not believed to be material to the basic financial statements. \r\n \r\nNote 12: RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\n \r\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. \r\n \r\nTRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe School District who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The School District 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 9.24% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: \r\n \r\n- 22 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2006 \r\n \r\nNote 12: RETIREMENT PLANS \r\nFiscal Year 2006 2005 2004 \r\n \r\nPercentage Contributed \r\n100% 100% 100% \r\n \r\nRequired Contribution \r\n$ 1,013,960 $ 945,764 $ 901,852 \r\n \r\n- 23 - \r\n \r\n (This page left intentionally blank) \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION-TOOMBS COUNTY GENERAL FUND \r\nSCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL \r\nYEAR ENDED JUNE 30, 2006 \r\n \r\nSCHEDULE \"1\" \r\n \r\nREVENUES \r\nProperty Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous \r\nTotal Revenues \r\nEXPENDITURES \r\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 Other Support Services Enterprise Operations Community Services Food Services Operation \r\nCapital Outlay \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nOther Sources Other Uses \r\nTotal Other Financing Sources (Uses) \r\nNet Change in Fund Balances \r\nFund Balances - Beginning \r\nAdjustments \r\n \r\nNONAPPROPRIATED BUDGETS \r\n \r\nORIGINAL !1) \r\n \r\nFINAL (1) \r\n \r\nACTUAL AMOUNTS \r\n \r\n$ \r\n \r\n3,164,233 $ \r\n \r\n3,164,233 $ \r\n \r\n3,738,958 \r\n \r\n11,576,692 \r\n \r\n11,576,692 \r\n \r\n11,866,613 \r\n \r\n2,368,646 \r\n \r\n2,368,646 \r\n \r\n2,547,090 \r\n \r\n299,800 \r\n \r\n299,800 \r\n \r\n984,816 \r\n \r\n83,500 \r\n \r\n83,500 \r\n \r\n76,135 \r\n \r\n288 275 \r\n \r\n288 275 \r\n \r\n291,562 \r\n \r\n$ \r\n \r\n17 781 146 $ \r\n \r\n17 781 146 $ \r\n \r\n19505174 \r\n \r\n$ \r\n \r\n12,127,149 $ \r\n \r\n12,127,149 $ \r\n \r\n11,989,467 \r\n \r\n632,798 349,556 445,365 476,890 1,086,916 195,712 1,251,701 517,059 \r\n72,398 \r\n160,000 1,138,469 \r\n \r\n632,798 349,556 445,365 476,890 1,086,916 195,712 1,251,701 517,059 \r\n72,398 \r\n160,000 1,138,469 \r\n \r\n863,629 590,230 467,777 394,239 1,171,901 175,774 1,191,783 503,552 \r\n99,292 230,816 228,467 1,101,403 \r\n10 325 \r\n \r\n$ \r\n \r\n18454013 $ \r\n \r\n18,454,013 $ \r\n \r\n19,018,655 \r\n \r\n$ \r\n \r\n-672 867 $ \r\n \r\n-672 867 $ \r\n \r\n486 519 \r\n \r\n$ \r\n \r\n464,500 $ \r\n \r\n464,500 \r\n \r\n-64 500 \r\n \r\n-64 500 $ \r\n \r\n-745 187 \r\n \r\n$ \r\n \r\n400 000 $ \r\n \r\n400 000 $ \r\n \r\n-745 187 \r\n \r\n$ \r\n \r\n-272,867 $ \r\n \r\n-272,867 $ \r\n \r\n-258,668 \r\n \r\n3,994,670 \r\n \r\n3,994,670 \r\n \r\n3,984,558 \r\n \r\n-12 824 \r\n \r\n-12 824 \r\n \r\nFund Balances - Ending \r\n \r\n$ \r\n \r\n3,708,979 $ \r\n \r\n3,708,979 $ \r\n \r\n3,725,890 \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 budgeted revenues or expenditures of the various principal accounts. \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- 25- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED JUNE 30, 2006 \r\n \r\nSCHEDULE \"2\" \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 \r\nTotal Child Nutrition Cluster \r\nOther Programs Pass-Through From Georgia Department of Education Food Donation (1) \r\nTotal U. S. Department of Agriculture \r\nEducation, U. S. Department of Special Education Cluster Pass-Through From Georgia Department of Education Special Education Grants to States Preschool Grants \r\nTotal Special Education Cluster \r\nOther Programs Pass-Through From Georgia Department of Education Enhancing Education Through Technology Program Hurricane Education Recovery Improving Teacher Quality State Grants Rural Education Safe and Drug-Free Schools and Communities State Grants for Innovative Programs Title I Grants to Local Educational Agencies Vocational Education - Basic Grants to States \r\nTotal U. S. Department of Education \r\n \r\nCFDA 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\nN/A \r\n \r\n(2) \r\n \r\nN/A \r\n \r\n$ _ _ _.c;,;97'-'1\"-'8:.-=9-=-6 \r\n \r\n$ \r\n \r\n971,896 \r\n \r\n10.550 \r\n \r\nN/A \r\n \r\n67 001 \r\n \r\n$ _ ___;.1'-=0-=-3\"-'8=89\"'7'- \r\n \r\n84.027 84.173 \r\n \r\nNIA \r\n \r\n$ \r\n \r\nN/A \r\n \r\n$ \r\n \r\n363,286 10 550 \r\n373,836 \r\n \r\n84.318 84.938 84.367 84.358 84.184 \r\n. 84.298 84.010 84.048 \r\n \r\nNIA NIA NIA N/A NIA NIA N/A N/A \r\n$ \r\n \r\n14,443 (3) \r\n208,281 72,909 14,817 10,098 \r\n992,079 36423 \r\n1722886 \r\n \r\nTotal Federal Financial Assistance \r\nN/A = Not Available \r\n \r\n$ ===2=7=6=1=7==83= \r\n \r\nNotes to the Schedule of Expenditures of Federal Awards \r\n \r\n(1) The amount shown for the Food Donation Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the School District during the current fiscal year. \r\n(2) Expenditures for the funds earned on the School Breakfast Program ($170,092) were not maintained separately and are included in the 2006 National School Lunch Program. \r\n(3) Funds earned on the Hurricane Education Recovery program in the amount of $19,553, do not require reporting of expenditures. \r\n \r\nMajor Programs are identified by an asterisk (*) in front of the CFDA number. \r\n \r\nThe School District did not provide Federal Assistance to any Subrecipient. \r\n \r\nThe accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the City of Vidalia Board of Education and is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the fund financial statements. \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 26 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2006 \r\n \r\nSCHEDULE \"3\" \r\n \r\nAGENCY/FUNDING \r\nGRANTS Bright From the Start: Georgia Department of Early Care and Learning Pre-Kindergarten Program \r\nEducation, Georgia Department of Quality Basic Education Direct Instructional Cost Kindergarten Program Kindergarten Program - Early Intervention Program Primary Grades (1-3) Program Primary Grades - Early Intervention (1-3) Program Upper Elementary Grades (4-5) Program Upper Elementary Grades - Early Intervention (4-5) Program Middle School (6-8) Program High School General Education (9-12) Program Vocational Laboratory (9-12) Program Students with Disabilities Gifted Student - Category VI Remedial Education Program Alternative Program Media Center Program 20 Days Additional Instruction Staff and Professional Development Indirect Cost Central Administration School Administration Facility Maintenance and Operations Categorical Grants Pupil Transportation Regular Bus Replacement Sparsity Nursing Services Principal Supplements Education Equalization Funding Grant Food Services Vocational Education Austerity Reduction Other State Programs K-8 Statewide Reading and Mathematics Program National Teacher Certification Preschool Handicapped Program Virtual Schools Grant \r\n \r\nGOVERNMENTAL FUND TYPE GENERAL FUND \r\n \r\n$ \r\n \r\n462,734 \r\n \r\n792,242 134,066 1,809,783 335,911 877,518 \r\n95,470 1,423,537 1,321,565 \r\n355,690 847,411 \r\n86,277 16,804 111,087 276,172 92,935 45,006 \r\n382,280 557,206 657,919 \r\n158,929 23,581 20,000 61,436 8,072 \r\n1,364,535 62,506 17,095 \r\n-621,590 \r\n42,415 6,587 \r\n41,359 75 \r\n$ ===1=1,..,8=6=6,!=6=13= \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 27 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION -TOOMBS COUNTY SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nYEAR ENDED JUNE 30, 2006 \r\n \r\nSCHEDULE \"4\" \r\n \r\nPROJECT \r\n \r\nORIGINAL ESTIMATED \r\nCOST (1) \r\n \r\nCURRENT ESTIMATED COSTS (2) \r\n \r\nAMOUNT EXPENDED IN CURRENT \r\nYEAR (3) \r\n \r\nAMOUNT EXPENDED \r\nIN PRIOR YEARS (3) \r\n \r\nPROJECT STATUS \r\n \r\nRetirement of the School District's City of Vidalia General Obligation Bonds, Series 1995, in the maximum amount of $4,276,603. \r\n \r\n$ 4,276,603 $ 4,276,603 $ \r\n \r\n476,525 $ 2,145,717 Ongoing \r\n \r\nConstruction of science and technology laboratories at Vidalia High School in the maximum amount of $500,000. \r\n \r\n500,000 \r\n \r\n500,000 \r\n \r\n500,000 \r\n \r\nCompleted \r\n \r\nConstruction of Vidalia High School football stadium in the maximum amount of $1,000,000. \r\n \r\n1,000,000 \r\n \r\n1,444,965 \r\n \r\n55,088 \r\n \r\n1,389,877 Completed \r\n \r\n(i) To purchase textbooks and additional instructional materials and equipment for all sites; (ii) To expand technology usage and improve communication and safety capabilities to include but not be limited to the upgrade of electrical capacity at JDDP, SOM, and VCHS, safety and security upgrades at all facilities, and technology upgrades system-wide; (iii) To acquire, improve and maintain facilities for VCS to include but not be limited to an athletic/physical education training facility at VCHS and JRT; kitchen expansions at VCHS, SOM, and JDDP, and maintain roofing warranties throughout the system; (iv) To expand and maintain student transportation to include but not be limited to purchase of additional student regular transportation and activity buses. \r\n \r\n9,696,000 \r\n \r\n9,696,000 \r\n \r\n2,237,090 \r\n \r\n51 698 Ongoing \r\n \r\n$ 15,472,603 $ 15,917,568 $ 3,268,703 $ 3,587,292 \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. \r\n(2) The School District's current estimate of total cost for the projects. Includes all cost from project inception to completion. \r\n(3) The voters of Toombs County approved the imposition of a 1% sales tax to fund the above projects. Amounts 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- 28 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY GENERAL FUND- QUALITY BASIC EDUCATION PROGRAM (QBE) \r\nALLOTMENTS AND EXPENDITURES BY PROGRAM YEAR ENDED JUNE 30, 2006 \r\n \r\nSCHEDULE \"5\" \r\n \r\nDESCRIPTION \r\n \r\nALLOTMENTS FROM GEORGIA \r\nDEPARTMENT OF \r\nEDUCATION (1 l (2) \r\n \r\nELIGIBLE QBE PROGRAM COSTS \r\n \r\nSALARIES \r\n \r\nOPERATIONS \r\n \r\nTOTAL \r\n \r\nDirect Instructional Programs \r\n \r\nKindergarten Program \r\n \r\n$ \r\n \r\nKindergarten Program-Early Intervention Program \r\n \r\nPrimary Grades (1-3) Program \r\n \r\nPrimary Grades-Early Intervention (1-3) Program \r\n \r\nUpper Elementary Grades (4-5) Program \r\n \r\nUpper Elementary Grades-Early Intervention (4-5) \r\n \r\nProgram \r\n \r\nMiddle School (6-8) Program \r\n \r\nHigh School General Education (9-12) Program \r\n \r\nVocational Laboratory (9-12) Program \r\n \r\nStudents with Disabilities \r\n \r\nCategory I \r\n \r\nCategory II \r\n \r\nCategory Ill \r\n \r\nCategory IV \r\n \r\nCategoryV \r\n \r\nGifted Student - Category VI \r\n \r\nRemedial Education Program \r\n \r\nAlternative Education Program \r\n \r\n863,589 $ \r\n151,461 2,000,447 \r\n375,697 962,343 \r\n110,190 1,577,718 1,434,489 \r\n421,564 938,475 \r\n91,748 19,234 123 780 \r\n \r\n586,616 $ \r\n172,087 1,361,480 \r\n470,533 704,835 \r\n198,058 1,879,394 1,942,335 \r\n514,413 \r\n482,382 361,165 228,236 \r\n1,246 \r\n131,079 78,944 \r\n131 886 \r\n \r\n16,777 $ \r\n1,916 60,197 \r\n7,319 53,935 \r\n1,218 36,571 87,764 45,095 \r\n1,128 2,852 8,153 2,404 \r\n357 3,850 \r\n174 172 260 \r\n \r\n603,393 174,003 1,421,677 477,852 758,770 \r\n199,276 1,915,965 2,030,099 \r\n559,508 \r\n483,510 364,017 236,389 \r\n3,650 357 \r\n134,929 79,118 \r\n304146 \r\n \r\nTOTAL DIRECT INSTRUCTIONAL PROGRAMS $ \r\n \r\n9,070,735 $ \r\n \r\n9,244,689 $ \r\n \r\n501,970 $ \r\n \r\n9,746,659 \r\n \r\nMedia Center Program Staff and Professional Development \r\n \r\n265,265 50188 \r\n \r\n361,556 25 345 \r\n \r\n81,500 26 358 \r\n \r\n443,056 51 703 \r\n \r\nTOTAL QBE FORMULA FUNDS \r\n \r\n$ \r\n \r\n9,386,188 $ \r\n \r\n9,631.590 $ \r\n \r\n609,828 $ =====1=0=2=41=!,4=1=8 \r\n \r\n(1) Comprised of State Funds plus Local Five Mill Share. (2) Allotments do not include the impact of the State budget austerity reduction. \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 29- \r\n \r\n SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS \r\n \r\n Russell W. Hinton \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n270 Washington Street, S.W., Suite 1-156 Atlanta, Georgia 30334-8400 \r\nJanuary 22, 2007 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the City of Vidalia Board of Education \r\nREPORT 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\nLadies and Gentlemen: \r\nWe have audited the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of City of Vidalia Board of Education as of and for the year ended June 30, 2006, which collectively comprise City of Vidalia Board of Education's basic financial statements and have issued our report thereon dated January 22, 2007. We conducted our audit in accordance with auditing standards generally accepted in the United States ofAmerica 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, we considered City of Vidalia Board of Education's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinions on the financial statements and not to provide an opinion on the internal control over financial reporting. However, we noted certain matters involving the internal control over financial reporting and its operation 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 judgment, could adversely affect City ofVidalia Board ofEducation's ability to record, process, summarize and report financial data consistent with assertions ofmanagement in the financial statements. Reportable conditions are described in the accompanying Schedule ofFindings and Questioned Costs as items FS-7931-06-01, FS-7931-06-02 and FS-7931-06-03. \r\n2006YB-30 \r\n \r\n A material weakness is a reportable condition in which the design or operation of one or more ofthe internal control components does not reduce to a relatively low level the risk that misstatements caused by error or fraud 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, we believe none of the reportable conditions described above are material weaknesses. \r\nCompliance and Other Matters \r\nAs part of obtaining reasonable assurance about whether City of Vidalia Board of Education's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions oflaws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. \r\nThis report is intended solely for the information and use of the management and members of the City ofVidalia Board ofEducation and is not intended to be and should not be used by anyone other than these specified parties. \r\nRespectfully submitted, \r\n~~LJ.'4d~ \r\nRussell W. Hinton, CPA, CGFM State Auditor \r\nRWH:gp 2006YB-30 \r\n \r\n Russell W. Hinton \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n270 Washington Street, S.W., Suite 1-156 Atlanta, Georgia 30334-8400 \r\nJanuary 22, 2007 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the City of Vidalia Board of Education \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULAR A-133 \r\nLadies and Gentlemen: \r\nCompliance \r\nWe have audited the compliance ofCity ofVidalia Board ofEducation with the types ofcompliance requirements described in the U.S. Office of Management and Budget (0MB) Circular A-133 Compliance Supplement that are applicable to its major Federal program for the year ended June 30, 2006. City of Vidalia Board of Education's major Federal program is identified in the Summary of Auditor's Results Section of the accompanying Schedule of Findings and Questioned Costs. Compliance with the requirements oflaws, regulations, contracts and grants applicable to its major Federal program is the responsibility of City of Vidalia Board of Education's management. Our responsibility is to express an opinion on City ofVidalia Board ofEducation's compliance based on our audit. \r\nWe conducted our audit ofcompliance in accordance with auditing standards generally accepted in the United States ofAmerica; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States; and 0MB Circular A133, Audits of States, 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 City ofVidalia Board ofEducation's compliance with \r\n \r\n2006SA-10 \r\n \r\n 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 City of Vidalia Board of Education's compliance with those requirements. \r\nIn our opinion, the City of Vidalia Board of Education complied, in all material respects, with the requirements referred to above that are applicable to its major Federal program for the year ended June 30, 2006. \r\nInternal Control Over Compliance \r\nThe management of City of Vidalia 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 City ofVidalia 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. \r\nOur consideration ofthe internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a reportable condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level ofrisk that noncompliance with applicable requirements oflaws, regulations, contracts and grants caused by error or fraud 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. \r\nThis report is intended solely for the information and use ofthe management, members ofthe City of Vidalia 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. \r\nRespectfully submitted, \r\nUJ.~ \r\nRus ell W. Hinton, CPA, CGFM State Auditor \r\nRWH:gp 2006SA-10 \r\n \r\n SECTION III AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2006 \r\n \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\nFS-7931-04-01 FS-7931-05-01 FS-7931-05-02 \r\n \r\nFurther Action Not Warranted Unresolved - See Corrective Action/Responses Partially Resolved - See Corrective Action/Responses \r\n \r\nCORRECTIVE ACTION/RESPONSES \r\n \r\nCASH AND CASH EQUIVALENTS REVENUES/RECEIVABLES/RECEIPTS Inadequate Separation of Duties Finding Control Number: FS-7931-05-01 \r\n \r\nAt this time, the City of Vidalia Board of Education is unable to hire additional staff and will establish procedures requiring review of bank reconciliations by someone outside of the Accounting Department (most likely the Office Manager). Cash receipts will also be logged by someone outside of the Accounting Department. \r\n \r\nCASH AND CASH EQUIVALENTS REVENUES/RECEIVABLES/RECEIPTS EXPENDITURES/LIABILITIES/DISBURSEMENTS Inadequate Internal Control Procedures Finding Control Number: FS-7931-05-02 \r\n \r\nThe City of Vidalia Board of Education recognizes said inadequacies in internal control procedures and is in the process of establishing compensating controls. These compensating controls include procedures for review ofbank reconciliations by someone from the central office level; establishing deposit procedures requiring that two individuals take responsibility for all deposits; and having periodic reviews done by central office staff. All procedures have not been fully implemented due to time and staff limitations. \r\n \r\nPRIOR YEAR FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \r\n \r\nNo matters were reported. \r\n \r\n SECTION IV FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2006 \r\n \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n \r\n1. Type of Report Issued on the Financial Statements The auditor's opinion on the City of Vidalia Board of Education's financial statements was unqualified. \r\n \r\n2. Reportable Conditions in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the City of Vidalia Board of Education disclosed financial statement reportable conditions related to the following control categories. \r\n \r\nCash and Cash Equivalents Revenues/Recei vab les/Recei pts \r\n \r\nExpenditures/Liabilities/Disbursements Accounting Controls (Overall) \r\n \r\nNone ofthe reportable conditions described above are considered to be material weaknesses. \r\n \r\n3. Noncompliance Material to the Financial Statements The audit of the City of Vidalia Board of Education disclosed no instances of noncompliance that were deemed to be material to the financial statements. \r\n \r\n4. Reportable Conditions in Internal Control Over Major Programs The audit report for the City of Vidalia Board of Education did not disclose any reportable conditions in internal control over major programs. \r\n \r\n5. Type of Report Issued on Compliance for Major Programs The auditor's opinion on the City of Vidalia Board ofEducation's report on compliance with requirements applicable to its major program was unqualified. \r\n \r\n6. Audit Findings Required to be Reported by Section .510(a) ofOMB Circular A-133 The City of Vidalia Board of Education's audit did not disclose audit findings required to be reported by section .5 lO(a) of 0MB Circular A-133. \r\n \r\n7. Major Programs The Federal award audited as a major program is as follows: 84.010 Title I Grants to Local Educational Agencies \r\n \r\n8. Type \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000. \r\n \r\n9. Low Risk Auditee The City of Vidalia Board of Education qualified as a low risk auditee as defined by Section .530 ofOMB Circular A-133. \r\n \r\n-I- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2006 \r\n \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nCASH AND CASH EQUIVALENTS REVENUES/RECEIVABLES/RECEIPTS Inadequate Separation of Duties at the Central Office Reportable Condition Finding Control Number: FS-7931-06-01 \r\n \r\nCondition: \r\n \r\nThis is a repeat finding (FS-7931-05-01) from the year ended June 30, 2005. The accounting procedures ofthe School District were insufficient to provide for adequate separation of duties at the Central Office. \r\n \r\nCriteria: \r\n \r\nThe School District's management is responsible for designing and maintaining internal controls that provide proper separation of duties. Such internal controls would limit any one individual's access to both physical assets and the related accounting records. \r\n \r\nQuestioned Cost: NIA \r\n \r\nInformation: \r\n \r\nCash and Cash Equivalents  The bank reconciliation and check signing functions were not separated from check preparation function. \r\n \r\nRevenues/Receivables/Receipts  The bookkeeping function was not separated from the cash receipts function. \r\n \r\nCause: \r\n \r\nThe School District has not assigned responsibilities to achieve appropriate separation of duties nor utilized management oversight of the incompatible activities to properly safeguard assets. \r\n \r\nEffect: \r\n \r\nErrors and/or irregularities may not be detected in a timely manner. \r\n \r\nRecommendation: \r\n \r\nThe School District should implement procedures to ensure that the key accounting functions of custody, record keeping and authorization are separated and/or utilize compensating controls for these incompatible activities. \r\n \r\n-2 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2006 \r\n \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nCASH AND CASH EQUIVALENTS REVENUES/RECEIVABLES/RECEIPTS EXPENDITURES/LIABILITIES/DISBURSEMENTS Inadequate Internal Controls over School Activity Accounts Reportable Condition Finding Control Number: FS-7931-06-02 \r\n \r\nCondition: \r\n \r\nThis is a repeat finding (FS-7931-05-02 and FS-7931-04-01) from the years ended June 30, 2005 and June 30, 2004, respectively. The accounting procedures of the School District were insufficient to provide for adequate internal controls over the school activity accounts. \r\n \r\nCriteria: \r\n \r\nThe School District's management is responsible for designing and maintaining internal controls that provide reasonable assurance that transactions are processed according to established procedures. \r\n \r\nQuestioned Cost: NIA \r\n \r\nInformation: \r\n \r\nCash and Cash Equivalents  The bank reconciliation function was not separated from the check writing function.  The bank reconciliation was not reviewed by an administrator not directly connected with cash operations. \r\n \r\nRevenues/Receivables/Receipts  The cash receipts function was not separated from the record keeping function.  Based on a review of twenty receipts, seven were not deposited in a timely manner. \r\n \r\nExpenditures/Liabilities/Disbursements  Based on a review of twenty vouchers, two did not include purchase orders. \r\n \r\nCause: \r\n \r\nThese deficiencies were a result of management's decision to limit the number ofadministrative staffmade responsible for accounting functions and management's failure to ensure that internal controls were established, implemented and functioning at the school level. \r\n \r\nEffect: \r\n \r\nErrors and/or irregularities may not be detected in a timely manner. \r\n \r\n-3- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2006 \r\n \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nCASH AND CASH EQUIVALENTS REVENUES/RECEIVABLES/RECEIPTS EXPENDITURES/LIABILITIES/DISBURSEMENTS Inadequate Internal Controls over School Activity Accounts Reportable Condition Finding Control Number: FS-7931-06-02 \r\n \r\nRecommendation: \r\n \r\nThe School District should implement procedures to ensure that the key accounting functions of custody, record keeping and authorization are separated and/or utilize oversight for these incompatible activities. In addition, management should monitor controls to provide reasonable assurance that transactions are processed according to established polices and implement those procedures deemed necessary to strengthen internal controls over the accounting functions. \r\n \r\nACCOUNTING CONTROLS (OVERALL) Inadequate Access Controls Reportable Condition Finding Control Number: FS-7931-06-03 \r\n \r\nCondition: \r\n \r\nThe accounting procedures ofthe School District did not maintain adequate separation of duties in the Financial Accounting System. \r\n \r\nCriteria: \r\n \r\nSeparation of duties involving key accounting functions, both manual and automated, is the basis for achieving an adequate system of internal control. \r\n \r\nQuestioned Cost: NIA \r\n \r\nInformation: \r\n \r\nAccess controls in the Financial Accounting System do not prevent users from accessing accounting functions that are outside of their area of responsibility. \r\n \r\nCause: \r\n \r\nThe School District's management is responsible for designing and maintaining internal controls that restrict access to programs or data. Management has not limited the access rights of users of the Financial Accounting System. \r\n \r\nEffect: \r\n \r\nErrors and/or irregularities may not be detected in a timely manner. \r\n \r\n-4 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2006 \r\n \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nACCOUNTING CONTROLS (OVERALL) Inadequate Access Controls Reportable Condition Finding Control Number: FS-7931-06-03 \r\n \r\nRecommendation: \r\n \r\nManagement should ensure that the access controls in the accounting information system complement the system ofinternal control by limiting an employee's access to only the accounting functions necessary for the performance of the employee's duties. \r\n \r\nGENERAL LEDGER Excessive Fund Balance Nonmaterial Noncompliance Finding Control Number: FS-7931-06-04 \r\n \r\nCondition: \r\n \r\nThe School District did not comply with provisions ofO.C.G.A. 20-2-167 as defined by Chapter 32 of the Financial Management for Georgia Local Units of Administration (FMGLUA). \"The purpose of this paragraph is to prohibit local school systems from accumulating surplus funds through taxation without accounting to the taxpayers for how such funds will be expended, and this paragraph shall be liberally construed to accomplish this purpose.\" The School District's General Fund had an excessive unreserved, undesignated fund balance at fiscal year end. \r\n \r\nCriteria: \r\n \r\nO.C.G.A. 20-2-167 states in part: \"The budget of each local school system shall designate all of such anticipated revenues among the several funds or accounts of the system and shall not leave any anticipated revenues undesignated. Except as otherwise provided in this paragraph, all amounts allocated to each fund or account and any existing balance in each fund or account shall be intended for expenditure within the budget year for the purposes of that fund or account. There shall be no fund or account in the nature of a 'surplus' or 'unobligated surplus' fund or account. Each local school system may, however, establish a single reserve fund or reserve account intended to cover unanticipated deficiencies in revenue or unanticipated expenditures, provided that the budget for any year shall not allocate to such reserve fund or reserve account any amounts which, when combined with the existing balance in such fund or account, exceed 15 percent of that years total budget.\" \r\n \r\n-5- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2006 \r\n \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nGENERAL LEDGER Excessive Fund Balance Nonmaterial Noncompliance Finding Control Number: FS-7931-06-04 \r\n \r\nChapter 32 Preparing Operating Budgets of the Financial Management for Georgia Local Units of Administration (FMGLUA) states in part: \"The O.C.G.A. 20-2-167 limits this part offund balance to 15 percent ofthe total budget. What this statute really means is that the general fund balance, after deducting all other reserves, may not exceed 15 percent of the next year's budgeted general fund expenditures.\" \r\n \r\nQuestioned Cost: NIA \r\n \r\nInformation: \r\n \r\nThe School District's General Fund reported an unreserved, undesignated fund balance at fiscal year end that exceeded 15 percent of the 2007 fiscal year budgeted general fund expenditures. \r\n \r\nCause: \r\n \r\nThe School District neglected the specific limitations imposed upon the School District by the Georgia Department of Education. \r\n \r\nEffect: \r\n \r\nNonmaterial noncompliance with respect to Chapter 32 of the FMGLUA. \r\n \r\nRecommendation: \r\n \r\nThe School District should establish policies and procedures designed to ensure that in future periods the School District complies with the provisions of O.C.G.A. 20-2-167 as defined by Chapter 32 of the FMGLUA. \r\n \r\nIII FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \r\n \r\nNo matters were reported. \r\n \r\n-6 - \r\n \r\n SECTIONV MANAGEMENT'S RESPONSES \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF MANAGEMENT'S RESPONSES YEAR ENDED JUNE 30, 2006 \r\nFinding Control Number: FS-7931-06-01 \r\nWe concur with this finding. At this time the Board is unable to hire additional staff and will establish procedures requiring review ofbank reconciliations by someone outside ofthe Accounting Department (most likely the Office Manager). Cash receipts will also be logged by someone outside of the Accounting Department. We plan to implement these compensating controls in fiscal year 2007. \r\nFinding Control Number: FS-7931-06-02 \r\nWe concur with this finding. The City ofVidalia Board ofEducation has established procedures for bank reconciliations to be reviewed by someone from the Central Office. The cash receipts function will now require that two individuals will be made responsible for all deposits at the school level both will sign off on the receipt and one will take deposits to the bank. Periodic reviews will be done at the schools by a central office employee to make sure that supporting documentation is being properly provided for all revenue and that purchase orders are produced for all expenditures in a timely manner. These procedures will be established by fiscal year 2007. \r\nFinding Control Number: FS-7931-06-03 \r\nWe concur with this finding. The City of Vidalia Board of Education will implement controls for access into the Financial Accounting System. These controls will be implemented in fiscal year 2008. \r\nFinding Control Number: FS-7931-06-04 \r\nWe concur with this finding. The City of Vidalia Board of Education will in future years properly designate fund balances to reserves for Capital Projects as should have been done in current year. \r\nContact Person: Norma D. Croft, Finance Director Phone: (912) 537-3088 Fax Number (912) 538-0938 E-mail Address: ncroft@vidalia-city.kl2.ga.us \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b2004-h2005","title":"City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2005","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Toombs County, Vidalia, 32.21769, -82.41346"],"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-be33-bv3-b2003-h2004"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b2003-h2004"],"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":"CITY OF VIDALIA BOARD OF EDUCATION \r\nTOOMBS COUNTY, GEORGIA REPORT ON AUDIT \r\nOF THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2004 \r\nSTATE OF GEORGIA \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\nRussell W. Hinton State Auditor \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY -TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON BASIC FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION - SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\nEXHIBITS \r\n \r\nBASIC FINANCIAL STATEMENTS \r\n \r\nDISTRICT-WIDE FINANCIAL STATEMENTS \r\n \r\nA \r\n \r\nSTATEMENT OF NET ASSETS \r\n \r\nB \r\n \r\nSTATEMENT OF ACTIVITIES \r\n \r\nFUND FINANCIAL STATEMENTS \r\n \r\nC \r\n \r\nBALANCE SHEET \r\n \r\nGOVERNMENTAL FUNDS \r\n \r\nD \r\n \r\nRECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET \r\n \r\nTO THE STATEMENT OF NET ASSETS \r\n \r\nE \r\n \r\nSTATEMENT OF REVENUES, EXPENDITURES AND CHANGES \r\n \r\nIN FUND BALANCES \r\n \r\nGOVERNMENTAL FUNDS \r\n \r\nF \r\n \r\nRECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT \r\n \r\nOF REVENUES, EXPENDITURES AND CHANGES IN FUND \r\n \r\nBALANCES TO THE STATEMENT OF ACTIVITIES \r\n \r\nG \r\n \r\nSTATEMENT OF FIDUCIARY NET ASSETS \r\n \r\nFIDUCIARY FUNDS \r\n \r\nH \r\n \r\nSTATEMENT OF CHANGES IN FIDUCIARY NET ASSETS \r\n \r\nFIDUCIARY FUNDS \r\n \r\nNOTES TO THE BASIC FINANCIAL STATEMENTS \r\n \r\nSCHEDULES \r\n \r\nREQUIRED SUPPLEMENTARY INFORMATION \r\n \r\n1 SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL FUND \r\n \r\nPage \r\n3 4 6 7 8 9 10 11 12 \r\n25 \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION -TOOMBS COUNTY - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nSCHEDULES \r\n \r\nSUPPLEMENTARY INFORMATION \r\n \r\n2 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\n26 \r\n \r\n3 SCHEDULE OF STATE REVENUE \r\n \r\n27 \r\n \r\n4 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\n \r\n28 \r\n \r\n5 ALLOTMENTS AND EXPENDITURES \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS (QBE) \r\n \r\nBY PROGRAM \r\n \r\n29 \r\n \r\nSECTION II \r\nCOMPLIANCE AND INTERNAL CONTROL REPORTS \r\nREPORT 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\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULAR A-133 \r\n \r\nSECTION III AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\nSECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS - \r\nSECTION V MANAGEMENT'S RESPONSES SCHEDULE OF MANAGEMENT'S RESPONSES \r\n \r\n SECTION I FINANCIAL \r\n \r\n Russell W. Hinton \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nFebruary 10, 2005 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the City of Vidalia Board of Education \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON BASIC FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION - SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nLadies and Gentlemen: \r\nWe have audited the accompanying financial statements ofthe governmental activities, each major fund, and the aggregate remaining fund information (Exhibits A through I) of the City of Vidalia Board of Education, as of and for the year ended June 30, 2004, which collectively comprise the Board's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the City of Vidalia Board of Education's management. Our responsibility is to express opinions on these financial statements based on our audit. \r\nWe 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 ofthe 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 opm10ns. \r\nIn our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Vidalia Board of Education, as of June 30, 2004, and the respective changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. \r\n2004ARL-11 \r\n \r\n The City of Vidalia Board of Education has not presented Management's Discussion and Analysis that accounting principles generally accepted in the United States has determined is necessary to supplement, although not to be part of, the basic financial statements. \r\nIn accordance with Government Auditing Standards, we have also issued our report dated February 10, 2005, on our consideration of the City of Vidalia Board of Education's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters. The purpose ofthat report is 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 internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit. \r\nThe Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual, as presented on page 25 is not a required part of the basic financial statements but is supplementary information required by the accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods ofmeasurement and presentation ofthe required supplementary information. However, we did not audit the information and express no opinion on it. \r\nOur audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City of Vidalia Board of Education's basic financial statements. The accompanying supplementary information which consist of Schedules 2 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 basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements, and in our opinion, is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. \r\nA copy ofthis report has been filed as a permanent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code of Georgia Annotated section 506-24. \r\nRespectfully submitted, \r\n~~~ Russell W. Hinton State Auditor \r\nRWH:gp 2004ARL-11 \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF NET ASSETS JUNE 30. 2004 \r\n \r\nEXHIBIT\"A\" \r\n \r\nASSETS \r\nCash and Cash Equivalents Investments Accounts Receivable, Net \r\nTaxes State Government Federal Government Other Inventories Capital Assets Land Construction in Progress Land Improvements Buildings Equipment Less: Accumulated Depreciation \r\nTotal Assets \r\nLIABILITIES \r\nAccounts Payable Salaries Payable Deposits and Deferred Revenues Long-Term Liabilities \r\nDue Within One Year Due in More Than One Year \r\nTotal Liabilities \r\nNET ASSETS \r\nInvested in Capital Assets, Net of Related Debt Restricted for \r\nBus Replacement Continuation of Federal Programs Debt Service Capital Projects Unrestricted \r\nTotal Net Assets \r\nTotal Liabilities and Net Assets \r\n \r\nGOVERNMENTAL ACTIVITIES \r\n \r\n$ \r\n \r\n5,287,170 \r\n \r\n1,686,363 \r\n \r\n1,268,990 1,288,803 \r\n198,881 16,928 28,069 \r\n \r\n354,268 23,940 \r\n1,059,099 11.454,973 \r\n1,053,617 -4 647 193 \r\n \r\n$ ===1=9e!:i,0==7=3,=90=8= \r\n \r\n$ \r\n \r\n326.473 \r\n \r\n1.433,182 \r\n \r\n19,441 \r\n \r\n335,000 2,080,000 \r\n \r\n$ \r\n \r\n4 194 096 \r\n \r\n$ \r\n \r\n6,883,704 \r\n \r\n25,398 253,162 2,258,221 1,690,201 3,769,126 \r\n \r\n$ \r\n \r\n14 879 812 \r\n \r\n$ =====1=9=,0=7=3 =90=8= \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -3- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF ACTIVITIES \r\nFOR THE YEAR ENDED JUNE 30. 2004 \r\n \r\nGOVERNMENTAL ACTIVITIES \r\nInstruction Support Services \r\nPupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services Operations of Non-Instructional Services Enterprise Operations Community Services Food Services Interest on Short-Term and Long-Term Debt \r\nTotal Governmental Activities \r\nGeneral Revenues Taxes Property Taxes For Maintenance and Operations Sales Taxes Special Purpose Local Option Sales Tax For Debt Services For Capital Projects Grants and Contributions not Restricted to Specific Programs Investment Earnings Miscellaneous \r\nTotal General Revenues \r\nChange in Net Assets \r\nNet Assets - Beginning of Year \r\nNet Assets - End of Year \r\n \r\nEXPENSES \r\n \r\nCHARGES FOR SERVICES \r\n \r\n$ \r\n \r\n11,070,992 $ \r\n \r\n738,127 159,754 402,878 402,636 1,055,761 157,531 929,065 419,858 \r\n82,600 \r\n \r\n320,120 180,507 1,038,783 148,768 \r\n \r\n$ \r\n \r\n17 107 380 $ \r\n \r\n209,198 \r\n344,072 149,609 280,173 983 052 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -4 - \r\n \r\n EXHIBIT \"B\" \r\n \r\nPROGRAM REVENUES \r\n \r\nOPERATING \r\n \r\nCAPITAL \r\n \r\nGRANTS AND \r\n \r\nGRANTS AND \r\n \r\nCONTRIBUTIONS CONTRIBUTIONS \r\n \r\nNET (EXPENSES) REVENUES \r\nAND CHANGES IN NET ASSETS \r\n \r\n$ \r\n \r\n8,775,143 $ \r\n \r\n209,686 67,436 \r\n219,058 465,128 499,455 \r\n \r\n638,840 239,294 \r\n42,635 \r\n \r\n742,186 \r\n \r\n$ \r\n \r\n11 898 861 $ \r\n \r\n12,434 $ 170 431 189 249 26 496 \r\n29,916 \r\n767 \r\n44 678 $ \r\n \r\n-2,074,217 \r\n-528,271 -92,318 \r\n-183,389 62,681 \r\n-556,057 -157,505 -289,729 -150,648 \r\n-39,965 \r\n23,952 -30,898 -15,657 -148 768 \r\n-4,180,789 \r\n \r\n$ \r\n \r\n3,333,864 \r\n \r\n1,360,527 539,248 807,363 128,894 325,998 \r\n \r\n$ \r\n \r\n6,495,894 \r\n \r\n$ \r\n \r\n2,315,105 \r\n \r\n12,564,707 \r\n \r\n$ \r\n \r\n14 879 812 \r\n \r\n- 5- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY BALANCE SHEET \r\nGOVERNMENTAL FUNDS JUNE 30, 2003 \r\n \r\nEXHIBIT \"C\" \r\n \r\nASSETS \r\nCash and Cash Equivalents Investments Accounts Receivable, Net \r\nTaxes State Government Federal Government Other Inventories \r\n \r\nGENERAL FUND \r\n \r\nDISTRICTWIDE \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 1,698,332 $ 1,330,617 $ 2,258,221 $ 1,686,363 \r\n \r\n847,537 1,274,041 \r\n198,881 16,928 28,069 \r\n \r\n350,030 14,762 \r\n \r\n5,287,170 1,686,363 \r\n1,197,567 1,288,803 \r\n198,881 16,928 28,069 \r\n \r\nTotal Assets \r\n \r\n$ \r\n \r\n5 750 151 $ \r\n \r\n1695409 $ \r\n \r\n2,258,221 $ ====9\"=7=03~78=1= \r\n \r\nLIABILITIES AND FUND BALANCES \r\nLIABILITIES \r\nAccounts Payable Salaries Payable Deposits and Deferred Revenue \r\nTotal Liabilities \r\nFUND BALANCES \r\nReserved for: Bus Replacement Continuation of Federal Programs Debt Service Inventories Capital Projects \r\nUnreserved Undesignated Reported in: General Fund Capital Projects \r\nTotal Fund Balances \r\n \r\n$ \r\n \r\n326,473 \r\n \r\n$ \r\n \r\n1,433,182 \r\n \r\n19,441 \r\n \r\n$ 1,779,096 \r\n \r\n$ \r\n \r\n$ \r\n \r\n25,398 \r\n \r\n$ \r\n \r\n225,093 \r\n \r\n$ 2,258,221 \r\n \r\n28,069 \r\n \r\n$ 1,690,201 \r\n \r\n3,692,495 \r\n \r\n5,208 \r\n \r\n$ 3,971,055 $ 1,695,409 $ 2,258,221 $ \r\n \r\n326,473 1,433,182 \r\n19,441 \r\n1,779,096 \r\n25,398 225,093 2,258,221 \r\n28,069 1,690,201 \r\n3,692,495 5,208 \r\n7,924,685 \r\n \r\nTotal Liabilities and Fund Balances \r\n \r\n$ \r\n \r\n5750151 $ \r\n \r\n1695409 $ \r\n \r\n2,258,221 $ ====9\"=7=03~78=1= \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -6- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET \r\nTO THE STATEMENT OF NET ASSETS JUNE 30. 2004 \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 Assets are different because: \r\nCapital Assets used in Governmental Activities are not financial resources and therefore are not reported in the funds. These assets consist of: \r\nLand Construction in Progress Land Improvements Buildings Equipment Accumulated Depreciation \r\nTotal Capital Assets \r\nSome of the School District's property tax revenues will be collected after year end but are not available soon enough to pay for the current period's expenditures. \r\nBonds Payable, which are Long-Term Liabilities, are not due and payable in the current period and therefore are not reported as liabilities in the funds. \r\n \r\n$ \r\n \r\n7,924,685 \r\n \r\n$ \r\n \r\n354,268 \r\n \r\n23,940 \r\n \r\n1,059,099 \r\n \r\n11,454,973 \r\n \r\n1,053,617 \r\n \r\n-4 647 193 \r\n \r\n9,298,704 \r\n \r\n71,423 -2,415,000 \r\n \r\nNet Assets of Governmental Activities (Exhibit \"A\") \r\n \r\n$ 14,879,812 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -7- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nGOVERNMENTAL FUNDS YEAR ENDED JUNE 30. 2004 \r\n \r\nEXHIBIT \"E\" \r\n \r\nREVENUES \r\nProperty Taxes Sales Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous \r\nTotal Revenues \r\nEXPENDITURES \r\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 Other Support Services Enterprise Operations Community Services Food Services Operation \r\nCapital Outlay Debt Services \r\nPrincipal Interest \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nSale of Equipment Transfers In Transfers Out \r\nTotal Other Financing Sources (Uses) \r\nNet Change in Fund Balances \r\nFund Balances - Beginning \r\n \r\nGENERAL FUND \r\n \r\nDISTRICTWIDE \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 3,324,461 $ \r\n10,678,691 2,055,054 983,052 81,328 331,344 \r\n$ 17,453,930 $ \r\n \r\n539,248 $ 17,157 \r\n \r\n$ 1,360,527 \r\n \r\n19,299 52 \r\n \r\n28,267 \r\n \r\n575 756 $ 1 388,794 $ \r\n \r\n3,324,461 1,899,775 10,695,848 2,055,054 \r\n983,052 128,894 331,396 \r\n19,418,480 \r\n \r\n$ 10,866,939 \r\n734,257 159,754 393,056 398,323 1,050,094 156,135 989,163 340,287 \r\n82,600 320,120 180,507 1,046,922 \r\n$ \r\n \r\n$ 16,718,157 $ \r\n \r\n$ \r\n \r\n735,773 $ \r\n \r\n$ \r\n69,774 69,774 $ 505,982 $ \r\n \r\n$ \r\n794 \r\n300,000 148,768 449,562 $ 939,232 $ \r\n \r\n10,866,939 \r\n734,257 159,754 393,056 398,323 1,050,094 156,929 989,163 340,287 \r\n82,600 320,120 180,507 1,046,922 \r\n69,774 \r\n300,000 148,768 \r\n17,237,493 \r\n2,180,987 \r\n \r\n$ \r\n \r\n4,000 \r\n \r\n$ \r\n \r\n$ \r\n \r\n11,765 \r\n \r\n-11,765 \r\n \r\n$ \r\n \r\n-7,765 $ \r\n \r\n11,765 \r\n \r\n$ \r\n \r\n$ \r\n \r\n728,008 $ \r\n \r\n517,747 $ \r\n \r\n939,232 $ \r\n \r\n3,243,047 \r\n \r\n1,177,662 \r\n \r\n1,318,989 \r\n \r\n4,000 11,765 -11,765 \r\n4,000 \r\n2,184,987 \r\n5,739,698 \r\n \r\nFund Balances - Ending \r\n \r\n$ 3,971,055 $ 1,695,409 $ 2,258,221 $ ==7=9=2=4=68=5= \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. -8- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF \r\nREVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES JUNE 30, 2004 \r\n \r\nEXHIBIT \"F\" \r\n \r\nTotal Net Change in Fund Balances - Governmental Funds (Exhibit \"E\") \r\n \r\nAmounts reported for Governmental Activities in the Statement of Activities are different because: \r\n \r\nCapital Outlays are reported as expenditures in Governmental Funds. However. in the Statement of Activities, the cost of Capital Assets is allocated over their estimated useful lives as depreciation expense. In the current period, these amounts are: \r\n \r\nCapital Outlay \r\n \r\n$ \r\n \r\nDepreciation Expense \r\n \r\nExcess of Capital Outlay over Depreciation Expense \r\n \r\nBecause some property taxes will not be collected for several months after the School District's fiscal year ends, they are not considered \"available\" revenues. \r\n \r\nIn the Statement of Activities, only the gain or loss on the sale of the equipment is reported, whereas in the Governmental Funds, the entire proceeds from the sale increase financial resources. Thus, the change in net assets differs from the change in fund balances by the carrying value of the equipment sold. \r\n \r\nRepayment of Long-Term Debt is reported as an expenditure in Governmental Funds, but the repayment reduces Long-Term Liabilities in the Statement of Net Assets. In the current year, this amount consists of Bond Principal Retirements. \r\n \r\n$ \r\n \r\n2,184,987 \r\n \r\n137,704 -307,591 \r\n \r\n-169,887 9,403 \r\n \r\n-9,398 300,000 \r\n \r\nChange in Net Assets of Governmental Activities (Exhibit \"B\") \r\n \r\n$ ==2=,3=1=5=1,=0=5 \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. - 9- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF FIDUCIARY NET ASSETS FIDUCIARY FUNDS JUNE 30, 2004 \r\n \r\nEXHIBIT \"G\" \r\n \r\nASSETS Cash and Cash Equivalents Investments \r\nCommon Stock \r\nTotal Assets \r\nLIABILITIES Funds Held for Others \r\nNET ASSETS Held in Trust for Private Purposes \r\nTotal Liabilities and Net Assets \r\n \r\nPRIVATE PURPOSE TRUSTS \r\n \r\nAGENCY FUNDS \r\n \r\n$ \r\n \r\n834 $ \r\n \r\n54,127 \r\n \r\n348 \r\n \r\n$ \r\n \r\n1,182 $ ====5=4=,1=27= \r\n \r\n$ \r\n \r\n54,127 \r\n \r\n$ _ _~1,_18_2_ \r\n \r\n$ \r\n \r\n1, 182 $ ===54='=12=7= \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. - 10 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION-TOOMBS COUNTY STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS FIDUCIARY FUNDS YEAR ENDED JUNE 30, 2004 \r\n \r\nEXHIBIT\"H\" \r\n \r\nADDITIONS Investment Earnings Net Increase (Decrease) in Fair Value of Investments \r\nDEDUCTIONS None Noted Change in Net Assets \r\nNet Assets - Beginning \r\nNet Assets - Ending \r\n \r\nPRIVATE PURPOSE TRUSTS \r\n \r\n$ ----'-15\"-1_ \r\n \r\n$ ______;o;_ \r\n \r\n$ \r\n \r\n151 \r\n \r\n1,031 \r\n \r\n$ ====1=18=2= \r\n \r\nThe notes to the basic financial statements are an integral part of this statement. \r\n- 11 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 1: DESCRIPTION OF SCHOOL DISTRICT AND REPORTING ENTITY \r\nREPORTING ENTITY \r\nThe City ofVidalia Board ofEducation (School District) 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 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\nBASIS OF PRESENTATION \r\nThe School District's basic financial statements are collectively comprised of the District-wide financial statements, fund financial statements and notes to the basic financial statements ofthe City of Vidalia Board of Education. \r\nDistrict-wide Statements: The Statement ofNet Assets and the Statement ofActivities display information about the financial activities ofthe overall School District, except for fiduciary activities. 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 Activities presents a comparison between direct expenses and program revenues for each function of the School District's governmental activities. \r\n Direct 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 ofthe School District's programs, such as office and maintenance personnel and accounting) are not allocated to programs. \r\n Program 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: The fund financial statements provide information about the School District's funds, including fiduciary funds. Eliminations have been made to minimize the double counting ofinternal activities. Separate statements for each category (governmental and fiduciary) are presented. 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- 12 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n General Fund is the School District's primary operating fund. It accounts for all financial resources ofthe School District, except those resources required to be accounted for in another fund. \r\n District-wide Capital Projects Fund accounts for financial resources including Bond Proceeds and grants from Georgia State Financing and Investment Commission to be used for the acquisition, construction or renovation of major capital facilities. \r\n Debt Service Fund accounts for taxes (sales) legally restricted for the payment of general longterm principal, interest and paying agent's fees. \r\nThe School District reports the following fiduciary fund types: \r\n The Private Purpose Trust fund reports a trust arrangement under which income may be expended to provide college scholarships to Vidalia City High School seniors. \r\n Agency funds account for assets held by the School District as an agent for various funds, governments or individuals. \r\nBASIS OF ACCOUNTING \r\nThe basis ofaccounting determines when transactions are reported on the financial statements. The District-wide governmental and fiduciary fund 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 ofaccounting. Under this method, revenues are recognized when measurable and available. The School District considers all revenues reported in the governmental funds to be available if they are collected within sixty days after year-end. Property taxes, sales taxes and interest are considered to be susceptible to accrual. Expenditures are recorded when the related fund \r\n- 13 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nliability 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 ofgeneral long-term liabilities and acquisitions under capital leases are reported as other financing sources. \r\nThe School District funds certain programs by a combination ofspecific cost-reimbursement grants, categorical grants, and general revenues. Thus, when program costs are incurred, there are both restricted and unrestricted net assets 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\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist ofcash on hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition in authorized financial institutions. Georgia Laws OCGA 45-8-14 authorize the School District to deposit its funds in one or more solvent banks or insured Federal savings and loan associations. \r\nINVESTMENTS \r\nCOMPOSITION OF INVESTMENTS Investments made by the School District in nonparticipating interest-earning contracts (such as certificates ofdeposit) 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 of Georgia Annotated Section 36-83-4 authorizes the School District 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: \r\n(1) Obligations issued by the State of Georgia or by other states, \r\n(2) Obligations issued by the United States government, \r\n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \r\n(4) Obligations of any corporation of the United States government, \r\n(5) Prime banker's acceptances, \r\n \r\n- 14 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\n(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services, \r\n \r\n(7) Repurchase agreements, and \r\n \r\n(8) Obligations of other political subdivisions of the State of Georgia. \r\n \r\nRECEIVABLES \r\n \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\n \r\nPROPERTY TAXES \r\n \r\nThe City of Vidalia fixed the property tax levy for the 2003 tax digest year (calendar year) on November 17, 2003 (levy date). Taxes were due on January 17, 2004 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2003 tax digest are reported as revenue in the governmental funds for fiscal year 2004. The Vidalia City Clerk bills and collects the property taxes for the School District and remits taxes collected to the School District. Property tax revenues, at the fund reporting level, during the fiscal year ended June 30, 2004, for maintenance and operations amounted to $3,324,461. \r\n \r\nThe tax millage rate levied for the 2003 tax year (calendar year) for the City of Vidalia Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n14.936 mills \r\n \r\nSALES TAXES \r\n \r\nSpecial Purpose Local Option Sales Tax, at the fund reporting level, during the year amounted to $1,899,775 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\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES On the basic financial statements, inventories ofdonated food commodities used in the preparation ofmeals are reported at their Federally assigned value and purchased foods inventories are reported \r\n \r\n- 15 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nat cost (first-in, first-out). 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\n \r\nCAPITAL ASSETS \r\n \r\nCapital assets purchased, including capital outlay costs, are recorded as expenditures in the fund financial statements at the time of purchase (including ancillary charges). On the District-wide financial statements, all purchased capital assets are valued 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 estimated fair market value on the date donated. Disposals are deleted at depreciated recorded cost. 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. Depreciation is computed using the straight-line method. The School District does not capitalize book collections or works of art. \r\n \r\nCapitalization thresholds and estimated useful lives of capital assets reported in the District-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 \r\n \r\n$ \r\n \r\n10,000 \r\n \r\nNIA \r\n \r\n$ \r\n \r\n10,000 \r\n \r\n60 years \r\n \r\n$ \r\n \r\n10,000 25 to 60 years \r\n \r\n$ \r\n \r\n10,000 10 to 15 years \r\n \r\nDepreciation is used to allocate the actual or estimated historical cost of all capital assets over estimated useful lives. \r\n \r\nGENERAL OBLIGATION BONDS \r\n \r\nThe School District issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond issuance costs are recognized in the financial statements during the fiscal year bonds are issued. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the Statement of Net Assets. \r\n \r\n- 16 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 3: DEPOSITS AND INVESTMENTS \r\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 of securities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. If a depository elects the pooled method (OCGA 45-8-13.1) the aggregate ofthe market value ofthe securities pledged to secure a pool ofpublic funds shall be not less than 110 percent ofthe daily pool balance. 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. \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 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 At June 30, 2004, the bank balances were $7,749,059. The amounts of the total bank balances are classified into three categories of credit risk: \r\n \r\n- 17 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"I\" NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 \r\n \r\nNote 3: DEPOSITS AND INVESTMENTS \r\n \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the School District or by the School District's agent in the School District's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the School District's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the School District's name.) \r\n \r\nThe School District's deposits are classified by risk category at June 30, 2004, as follows: \r\n \r\nRisk Category \r\n \r\nBank Balance \r\n \r\n1 \r\n \r\n$ 2,832,619 \r\n \r\n2 \r\n \r\n835,710 \r\n \r\n3 \r\n \r\n4,080,730 \r\n \r\nTotal \r\n \r\n$ 7,749,059 \r\n \r\nCATEGORIZATION OF INVESTMENTS At June 30, 2004, the fair value of the School District's total investments was $348 and this entire amount consisted ofcommon stock which was insured or registered, or securities held by the School District or the School District's agent in the School District's name. \r\n \r\nNote 4: NON-MONETARY TRANSACTIONS \r\n \r\nThe School District receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 2 - Inventories \r\n \r\nNote 5: CAPITAL ASSETS \r\n \r\nThe following is a summary of changes in the Capital Assets during the fiscal year: \r\n \r\n- 18 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 5: CAPITAL ASSETS \r\n \r\nBalances July 1, 2003 \r\n \r\nIncreases \r\n \r\nBalances Decreases June 30, 2004 \r\n \r\nGovernmental Activities Capital Assets, Not Being Depreciated: \r\nLand Construction in Progress \r\n \r\n$ 354,268 0 $ \r\n \r\n23 940 \r\n \r\n$ 354,268 23 940 \r\n \r\nTotal Capital Assets Not Being Depreciated $ 354,268 $ \r\n \r\n23 940 \r\n \r\n$ 378 208 \r\n \r\nCapital Assets Being Depreciated Buildings and Improvements Equipment Land Improvements \r\n \r\n$ 11,392,409 $ 1,031,685 1,059,099 \r\n \r\n62,564 51,200 $ \r\n \r\n$ 11,454,973 \r\n \r\n29,268 \r\n \r\n1,053,617 \r\n \r\n1,059,099 \r\n \r\nLess Accumulated Depreciation for: Buildings and Improvements Equipment Land Improvements \r\n \r\n3,654,551 542,797 162,124 \r\n \r\n201,480 88,460 17 651 \r\n \r\n19,870 \r\n \r\n3,856,031 611,387 179 775 \r\n \r\nTotal Capital Assets, Being Depreciated, Net $ 9,123,721 $ -193 827 $ \r\n \r\n9 398 $ 8,920,496 \r\n \r\nGovernmental Activity Capital Assets - Net $ 9 477 989 $ -169 887 $ \r\n \r\n9 398 $ 9 298 704 \r\n \r\nCurrent year depreciation expense by function is as follows: \r\n \r\nInstruction Support Services \r\nPupil Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Food Services \r\n \r\n$ 186,402 \r\n \r\n$ \r\n \r\n3,535 \r\n \r\n8,972 \r\n \r\n3,940 \r\n \r\n5,177 \r\n \r\n550 \r\n \r\n10,343 \r\n \r\n72,688 \r\n \r\n105,205 15 984 \r\n \r\n$ 307 591 \r\n \r\nNote 6: RESTRICTED ASSETS \r\n \r\nSpecial Purpose Local Option Sales Tax (SPLOST) is reported as restricted assets in the Statement of Net Assets because its use is limited by statutory provisions. Restricted assets at June 30, 2004, were as follows: \r\n \r\n- 19 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 6: RESTRICTED ASSETS \r\n \r\nDistrict-wide Capital Projects SPLOST \r\n \r\nDebt Service Funds \r\n \r\nRestricted Cash and Cash Equivalents: Debt Services Capital Acquisitions \r\n \r\n$ 2,258,221 $ 1,340,171 \r\n \r\nNote 7: INTERFUND TRANSFERS \r\n \r\nInterfund transfers for the year ended June 30, 2004, consisted of the following: \r\n \r\nTransfer to \r\n \r\nTransfers From General Fund \r\n \r\nDistrict-wide Capital Projects \r\n \r\nTransfers are used to move property tax revenues collected by the General Fund to the District-wide Capital Projects Fund as supplemental funding source for capital construction projects. \r\n \r\nNote 8: RISK MANAGEMENT \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; acts of God and unemployment compensation. \r\n \r\nThe School District has obtained commercial insurance for risk ofloss associated with torts, assets, errors or omissions and job related illness or injuries to employees (through September 30, 2003). The School District has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the School District's insurance coverage in any ofthe past three years. \r\n \r\nThe School District has elected to self-insure for all losses related to acts of God. The School District has not experienced any losses related to this risk in the past three years. \r\n \r\nThe School District is self-insured with regard to unemployment compensation claims. The School District 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. \r\n \r\n- 20 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 8: RISK MANAGEMENT \r\n \r\nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \r\n \r\n2003 2004 \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\n$ \r\n \r\n4 794 $ \r\n \r\n6 845 $ \r\n \r\n10 631 $ \r\n \r\n1 008 \r\n \r\n$ \r\n \r\n1 008 $ \r\n \r\n4 617 $ \r\n \r\n5 065 $ \r\n \r\n560 \r\n \r\nAs of October 1, 2003, the School District participates in the Georgia Education Workers' Compensation 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 insurance coverage. Additional insurance coverage is provided through an agreement by the Trust with the Midwest Employers Casualty Company to provide coverage for potential losses sustained by the Trust in excess of $400,000 loss per occurrence, up to $2,000,000. \r\n \r\nThe School District has purchased surety bonds to provide additional insurance coverage as follows: \r\n \r\nPosition Covered \r\n \r\nAmount \r\n \r\nSuperintendent Board Treasurer Board Vice-Treasurer All Employees \r\n \r\n$ \r\n \r\n50,000 \r\n \r\n$ \r\n \r\n50,000 \r\n \r\n$ \r\n \r\n50,000 \r\n \r\n$ 100,000 \r\n \r\nNote 9: LONG-TERM DEBT \r\n \r\nGENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are as follows: \r\n \r\nPurpose \r\n \r\nInterest Rates \r\n \r\nAmount \r\n \r\nGeneral Government - Series 1995 \r\n \r\n4.20% - 5.75% $ 2,415,000 \r\n \r\nThe changes in Long-Term Debt during the fiscal year ended June 30, 2004, were as follows: \r\n \r\n- 21 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 9: LONG-TERM DEBT \r\n \r\nGovernmental Fund \r\nGeneral Obligation \r\nBonds \r\n \r\nBalance July 1, 2003 \r\n \r\n$ 2,715,000 \r\n \r\nDeductions Debt Retired \r\n \r\n300,000 \r\n \r\nBalance June 30, 2004 \r\n \r\n$ 2,415,000 \r\n \r\nPortion of Long-Term Debt Due within One Year \r\n \r\n$ 335,000 \r\n \r\nAt June 30, 2004, payments due by fiscal year which includes principal and interest for these items are as follows: \r\n \r\nFiscal Year Ended June 30 \r\n \r\nGeneral Obligation \r\n \r\nDebt \r\n \r\nPrincipal \r\n \r\nInterest \r\n \r\n2005 2006 2007 2008 2009 2010 \r\n \r\n$ 335,000 $ 133,318 \r\n \r\n360,000 \r\n \r\n115,730 \r\n \r\n385,000 \r\n \r\n96,470 \r\n \r\n415,000 \r\n \r\n75,488 \r\n \r\n445,000 \r\n \r\n52,455 \r\n \r\n475,000 \r\n \r\n27,313 \r\n \r\nTotal Principal and Interest \r\n \r\n$ 2,415,000 $ 500,774 \r\n \r\nNote 10: ON-BEHALF PAYMENTS \r\n \r\nThe School District has recognized revenues and costs in the amount of $134,285 for health insurance and retirement contributions paid on the School District's behalf by the following State Agencies. \r\n \r\nGeorgia Department of Education Paid to the Georgia Department of Community Health For Health Insurance of Non-Certified Personnel In the amount of $132,994 \r\n \r\n-22 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE BASIC FINANCIAL STATEMENTS JUNE 30, 2004 \r\n \r\nEXHIBIT \"I\" \r\n \r\nNote 10: ON-BEHALF PAYMENTS \r\n \r\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 $1,291 \r\n \r\nNote 11: SIGNIFICANT CONTINGENT LIABILITIES \r\n \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any costs which are disallowed under grant terms. The School District believes that such disallowances, if any, will be immaterial to its overall financial position. \r\n \r\nNote 12: RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\n \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. \r\n \r\nTRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe School District who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The School District makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 9.24% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: \r\n \r\nFiscal Year \r\n \r\nPercentage Contributed \r\n \r\nRequired Contribution \r\n \r\n2004 2003 2002 \r\n \r\n100% 100% 100% \r\n \r\n$ 901,852 $ 899,109 $ 871,434 \r\n \r\n- 23 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY GENERAL FUND \r\nSCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL \r\nYEAR ENDED JUNE 30, 2004 \r\n \r\nSCHEDULE \"1\" \r\n \r\nREVENUES \r\nProperty Taxes State Funds Federal Funds Charges for Services Investment Earnings Miscellaneous \r\nTotal Revenues \r\nEXPENDITURES \r\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 Other Support Services Enterprise Operations Community Services Food Services Operation \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nOther Sources Other Uses \r\nTotal Other Financing Sources (Uses) \r\nNet Change in Fund Balances \r\nFund Balances - Beginning \r\nAdjustments \r\n \r\nNONAPPROPRIATED BUDGETS \r\n \r\nORIGINAL (1) \r\n \r\nFINAL (1) \r\n \r\nACTUAL AMOUNTS \r\n \r\n$ \r\n \r\n3,124,025 $ \r\n \r\n3,124,025 $ \r\n \r\n3,324,461 \r\n \r\n10,556,921 \r\n \r\n10,580,521 \r\n \r\n10,678,691 \r\n \r\n2,084,414 \r\n \r\n2,218,907 \r\n \r\n2,055,054 \r\n \r\n277,465 \r\n \r\n277,465 \r\n \r\n983,052 \r\n \r\n64,600 \r\n \r\n64,600 \r\n \r\n81,328 \r\n \r\n220 685 \r\n \r\n220 685 \r\n \r\n331 344 \r\n \r\n$ \r\n \r\n16 328 110 $ \r\n \r\n16 486 203 $ \r\n \r\n17 453 930 \r\n \r\n$ \r\n \r\n11,004,839 $ \r\n \r\n11,147,038 $ \r\n \r\n10,866,939 \r\n \r\n602,898 231,799 362,940 511,880 989,006 167,115 981,890 384,844 \r\n85,147 \r\n125,000 991 890 \r\n \r\n624,397 235,710 362,940 511,915 998,014 167,115 975,290 384,844 \r\n85,147 \r\n125,000 991 890 \r\n \r\n734,257 159,754 393,056 398,323 1,050,094 156,135 989,163 340,287 \r\n82,600 320,120 180,507 1 046 922 \r\n \r\n$ \r\n \r\n16 439 248 $ \r\n \r\n16 609 300 $ \r\n \r\n16 718 157 \r\n \r\n$ \r\n \r\n-111138 $ \r\n \r\n-123 097 $ \r\n \r\n735 773 \r\n \r\n$ \r\n \r\n40,000 $ \r\n \r\n40,000 $ \r\n \r\n-100 000 \r\n \r\n-100 000 \r\n \r\n4,000 -11 765 \r\n \r\n$ \r\n \r\n-60 000 $ \r\n \r\n-60 000 $ \r\n \r\n-7 765 \r\n \r\n$ \r\n \r\n-171,138 $ \r\n \r\n-183,097 $ \r\n \r\n728,008 \r\n \r\n3,016,924 \r\n \r\n3,000,950 \r\n \r\n3,243,047 \r\n \r\n-37 482 \r\n \r\n-26 647 \r\n \r\nFund Balances - Ending \r\n \r\n$ \r\n \r\n2 808 304 $ \r\n \r\n2 791 206 $====='3=9=71='==05=5= \r\n \r\nNotes to the Schedule of Revenues Expenditures and Changes in Fund Balances Budget and Actual \r\n(1) Original and Final Budget amounts do not include budgeted revenues or expenditures of the various principal accounts. \r\nThe accompanying schedule of revenues, expenditures and changes in fund balances budget and actual is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the fund financial statements. \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 25 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED JUNE 30, 2004 \r\n \r\nSCHEDULE \"2\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\nAgriculture, U S. Department of Child Nutrition Cluster Pass-Through From Georgia Department of Education Food Services School Breakfast Program National School Lunch Program \r\nTotal Child Nutrition Cluster \r\nOther Programs Pass-Through From Georgia Department of Education Food Donation (1) \r\nTotal U. S. Department of Agriculture \r\nEducation, U.S. Department of Special Education Cluster Pass-Through From Georgia Department of Education Special Education Grants to States Preschool Grants \r\nTotal Special Education Cluster \r\nOther Programs Pass-Through From Georgia Department of Education Enhancing Education Through Technology Program Improving Teacher Quality State Grants Rural Education School Renovation - Schools State Grants for Innovative Programs Title I Grants to Local Educational Agencies Vocational Education - Basic Grants to States \r\nTotal U. S. Department of Education \r\n \r\nCFDA NUMBER \r\n \r\nPASSTHROUGH \r\nENTITY ID \r\nNUMBER \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n10.553 10.555 \r\n \r\nN/A \r\n \r\nN/A \r\n \r\n$ \r\n \r\n$ \r\n \r\n(2) 922,236 \r\n922,236 \r\n \r\n10.550 \r\n \r\nN/A $ \r\n \r\n65,870 988,106 \r\n \r\n84.027 84.173 \r\n \r\nN/A \r\n \r\n$ \r\n \r\nN/A \r\n \r\n$ \r\n \r\n290,250 13,687 \r\n303,937 \r\n \r\n84.318 84.367 84.358 84.352 84.298 84.010 84.048 \r\n \r\nN/A N/A N/A N/A N/A N/A N/A \r\n$ \r\n \r\n23,248 141,276 \r\n67,520 53,372 16,320 735,185 30,824 \r\n1,371,682 \r\n \r\nTotal Federal Financial Assistance \r\n \r\n$ ======2=,3=5=9==7,=88= \r\n \r\nN/A = Not Available \r\n \r\nNotes to the Schedule of Expenditures of Federal Awards \r\n \r\n(1) The amount shown for the Food Donation Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the School District during the current fiscal year. \r\n(2) Expenditures for the funds earned on the School Breakfast Program ($114,439) were not maintained separately and are included in the 2004 National School Lunch Program. \r\n \r\nMajor Programs are identified by an asterisk (*) in front of the CFDA number. \r\n \r\nThe School District did not provide Federal Assistance to any Subrecipient. \r\n \r\nThe accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the City of Vidalia 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 basic financial statements. \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 26 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30. 2004 \r\n \r\nSCHEDULE \"3\" \r\n \r\nAGENCY/FUNDING \r\nGRANTS Bright From the Start Georgia Department of Early Care and Learning Pre-Kindergarten Program \r\nEducation, 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 Category I Category II Category Ill Category IV Gifted Student - Category VI Remedial Education Program Alternative Education Program Media Center Program 20 Days Additional Instruction Staff and Professional Development Indirect Cost Central Administration School Administration Facility Maintenance and Operations Categorical Grants Pupil Transportation Regular Bus Replacement Sparsity Nursing Services Principal Supplements Migrant Education Education Equalization Funding Grant Food Services Vocational Education Austerity Reduction Other State Programs 4-8 Statewide After School Program K-3 Statewide Reading Program Health Insurance Mentor Teachers Preschool Handicapped Program Lottery Programs Student Information System \r\nGeorgia State Financing and Investment Commission Reimbursement on Construction Projects \r\nOffice of Treasury and Fiscal Services Public School Employees Retirement \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 27 - \r\n \r\nGOVERNMENTAL FUND 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\n370.414 \r\n \r\n$ \r\n \r\n370,414 \r\n \r\n716.735 119.271 1.513,593 376,674 742,743 187,305 1.357,520 1.096,938 447.204 \r\n26.570 247,633 429.727 107.236 \r\n50.489 17,661 107.328 218.361 71.429 42,634 \r\n352.701 485.653 636.308 \r\n145,411 29.916 19.500 62,207 8.762 2.634 \r\n850,446 58,816 18.600 \r\n-492.479 \r\n16.592 35.796 132,994 \r\n2,018 36.715 \r\n27,345 \r\n \r\n716.735 119.271 1,513.593 376,674 742,743 187.305 1,357.520 1,096.938 447,204 \r\n26,570 247.633 429.727 107,236 \r\n50,489 17,661 107,328 218,361 71,429 42,634 \r\n352,701 485,653 636.308 \r\n145,411 29,916 19,500 62,207 8,762 2,634 \r\n850,446 58.816 18,600 \r\n-492,479 \r\n16,592 35,796 132,994 \r\n2,018 36,715 \r\n27.345 \r\n \r\n$ 1 291 \r\n \r\n17. 157 \r\n \r\n17,157 1 291 \r\n \r\n$ 10 678 691 $ \r\n \r\n17 157 $ \r\n \r\n10 695 848 \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nYEAR ENDED JUNE 30, 2004 \r\n \r\nSCHEDULE \"4\" \r\n \r\nPROJECT \r\nRetirement of the School District\"s City of Vidalia General Obligation Bonds. Series 1995, in the maximum amount of $4,276,603. \r\nConstruction of science and technology laboratories at Vidalia High School in the maximum amount of $500,000. \r\nConstruction of Vidalia High School football stadium in the maximum amount of $1,000,000. \r\n \r\nORIGINAL ESTIMATED \r\nCOST (1) \r\n \r\nCURRENT ESTIMATED \r\nCOST (2) \r\n \r\nAMOUNT EXPENDED IN CURRENT YEAR (3) \r\n \r\nAMOUNT EXPENDED \r\nIN PRIOR YEARS (3) \r\n \r\nPROJECT STATUS \r\n \r\n$ 4,276,603 $ 4,276,603 $ \r\n \r\n449,562 $ 1,227,042 Ongoing \r\n \r\n500,000 \r\n \r\n776,723 \r\n \r\nOngoing \r\n \r\n1,000,000 \r\n \r\n1,300,000 \r\n \r\n31 092 \r\n \r\nOngoing \r\n \r\n$ 5,776,603 $ 6,353,326 $ \r\n \r\n480 654 $ 1,227,042 \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. \r\n(2) The School District's current estimate of total cost for the projects. Includes all cost from project inception to completion. \r\n(3) The voters of Toombs County approved the imposition of a 1% sales tax to fund the above projects. Amounts 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- 28 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION- TOOMBS COUNTY GENERAL FUND - QUALITY BASIC EDUCATION PROGRAM /QBE) \r\nALLOTMENTS AND EXPENDITURES - BY PROGRAM YEAR ENDED JUNE 30, 2004 \r\n \r\nSCHEDULE \"5\" \r\n \r\nDESCRIPTION \r\nDirect Instructional Programs 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 Category I Category II Category Ill Category IV Gifted Student - Category VI Remedial Education Program Alternative Education Program \r\nTOTAL DIRECT INSTRUCTIONAL PROGRAMS \r\nMedia Center Program Staff and Professional Development \r\n \r\nALLOTMENTS FROM GEORGIA DEPARTMENT OF EDUCATION (1) (2) \r\n \r\nELIGIBLE QBE PROGRAM COSTS \r\n \r\nSALARIES OPERATIONS \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n796,230 $ \r\n \r\n582,110 $ \r\n \r\n17,770 $ \r\n \r\n599,880 \r\n \r\n137,730 \r\n \r\n142,735 \r\n \r\n3,645 \r\n \r\n146,380 \r\n \r\n1,678,677 \r\n \r\n1,242,461 \r\n \r\n101,913 \r\n \r\n1,344,374 \r\n \r\n433,864 \r\n \r\n380,911 \r\n \r\n6,489 \r\n \r\n387,400 \r\n \r\n819,487 \r\n \r\n687,002 \r\n \r\n64,201 \r\n \r\n751,203 \r\n \r\n218,896 1,541,174 1,242,288 \r\n495,381 938,432 \r\n59,411 21,836 121,290 \r\n \r\n203,379 1,731,984 1,671,936 \r\n500,713 \r\n272,939 140,353 337,520 131,234 131,049 \r\n69,755 195,963 \r\n \r\n1,244 79,510 85,376 50,821 \r\n1,445 2,979 7,464 2,610 2,139 \r\n358 2,861 \r\n \r\n204,623 1,811,494 1,757,312 \r\n551,534 \r\n274,384 143,332 344,984 133,844 133,188 \r\n70,113 198,824 \r\n \r\n$ \r\n \r\n8,504,696 $ 8,422,044 $ \r\n \r\n430,825 $ \r\n \r\n8,852,869 \r\n \r\n244,353 47,880 \r\n \r\n303,039 28,755 \r\n \r\n55,731 13,799 \r\n \r\n358,770 42,554 \r\n \r\nTOTAL QBE FORMULA FUNDS \r\n \r\n$ \r\n \r\n8,796,929 $ 8,753,838 $ \r\n \r\n500,355 $ ===9,~25=4='=,1;,;;9~3 \r\n \r\n(1) Comprised of State Funds plus Local Five Mill Share. (2) Allotments do not include the impact of the State budget austerity reduction. \r\n \r\nSee notes to the basic financial statements. \r\n \r\n- 29 - \r\n \r\n SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS \r\n \r\n Russell W. Hinton \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nFebruary 10, 2005 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the City of Vidalia Board of Education \r\nREPORT 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\nLadies and Gentlemen: \r\nWe have audited the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of City of Vidalia Board of Education as of and for the year ended June 30, 2004, which collectively comprise City of Vidalia Board of Education's basic financial statements and have issued our report thereon dated February 10, 2005. 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. \r\nInternal Control Over Financial Reporting \r\nIn planning and performing our audit, we considered City of Vidalia Board of Education'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 an opinion on the internal control over financial reporting. 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 ofthe internal control over financial reporting that, in ourjudgment, could adversely affect City ofVidalia 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 ofFindings and Questioned Costs as item FS-7931-04-01. \r\n \r\n2004YB-30 \r\n \r\n A material weakness is a reportable condition in which the design or operation of one or more ofthe internal control components does not reduce to a relatively low level the risk that misstatements caused by error or fraud 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, we believe the reportable condition described above is not a material weakness. \r\nCompliance and Other Matters \r\nAs part of obtaining reasonable assurance about whether City of Vidalia Board of Education's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions oflaws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. \r\nThis report is intended solely for the information and use of the management and members of the City of Vidalia Board ofEducation and is not intended to be and should not be used by anyone other than these specified parties. \r\nRespectfully submitted, \r\n~~-~ Russell W. Hinton State Auditor \r\nRWH:gp 2004YB-30 \r\n \r\n Russell W. Hinton \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nFebruary 10, 2005 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the City of Vidalia Board of Education \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULARA-133 \r\nLadies and Gentlemen: \r\nCompliance \r\nWe have audited the compliance ofCity ofVidalia Board ofEducation with the types ofcompliance requirements described in the US. Office of Management and Budget (0MB) Circular A-133 Compliance Supplement that are applicable to each of its major Federal programs for the year ended June 30, 2004. City of Vidalia Board of Education's major Federal programs are identified in the Summary of Auditor's Results Section of the accompanying Schedule of Findings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility of City of Vidalia Board of Education's management. Our responsibility is to express an opinion on City of Vidalia Board of Education's compliance based on our audit. \r\nWe conducted our audit of compliance in accordance with auditing standards generally accepted in the United States ofAmerica; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States; and 0MB Circular A133, Audits of States, 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 ofcompliance 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 City of Vidalia 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 City of Vidalia Board of Education's compliance with those requirements. \r\n2004SA-10 \r\n \r\n In our opinion, the City of Vidalia 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, 2004. \r\nInternal Control Over Compliance \r\nThe management of City of Vidalia 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 City ofVidalia Board of Education'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. \r\nOur consideration ofthe internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a reportable condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level ofrisk that noncompliance with applicable requirements oflaws, regulations, contracts and grants caused by error or fraud 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. \r\nThis report is intended solely for the information and use ofthe management, members ofthe City of Vidalia Board of Education, 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. \r\nRespectfully submitted, \r\n \r\nRWH:gp 2004SA-10 \r\n \r\nState Auditor \r\n \r\n SECTION III AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2004 \r\n \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\nFS-7931-02-01 FS-7931-03-01 \r\n \r\nPreviously Reported Corrective Action Implemented Partially Resolved - See Corrective Action/Responses \r\n \r\nCORRECTIVE ACTION/RESPONSES \r\n \r\nCASH AND CASH EQUIVALENTS REVENUES/RECEIVABLES/RECEIPTS EXPENDITURES/LIABILITIES/DISBURSEMENTS Inadequate Internal Control Procedures Finding Control Number: FS-7931-03-01 \r\n \r\nThe City ofVidalia Board ofEducation has established procedures for bank reconciliations to be reviewed by someone from the Central Office. The cash receipts function will now require that two individuals will be made responsible for all deposits at the school level both will sign off on the receipt and one will take deposits to the bank. Periodic reviews will be done at the schools by a central office employee to make sure that supporting documentation is being properly provided for all revenues and that purchase orders are produced for all expenditures. \r\n \r\nNote: The City of Vidalia Board of Education was made aware of the fiscal year 2003 finding for Inadequate Internal Control Procedures during the fiscal year 2003 audit which occurred after the fiscal year 2004 was complete; therefore, we were unable to implement our corrective action plan during fiscal year 2004. The corrective action was implemented in fiscal year 2005 and the finding should be resolved in that audit. \r\n \r\n SECTION IV FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2004 \r\n \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n \r\n1. Type of Report Issued on the Financial Statements The auditor's opinion on the City of Vidalia Board of Education's financial statements was unqualified. \r\n \r\n2. Reportable Conditions in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the City of Vidalia Board of Education disclosed a financial statement reportable condition related to the following control categories. \r\n \r\nCash and Cash Equivalents Revenues/Receivables/Receipts \r\n \r\nExpenditures/Liabilities/Disbursements \r\n \r\nThe reportable condition described above is not considered to be a material weakness. \r\n \r\n3. Noncompliance Material to the Financial Statements The audit ofthe City ofVidalia Board ofEducation disclosed no instances ofnoncompliance that were deemed to be material to the financial statements. \r\n \r\n4. Reportable Conditions in Internal Control Over Major Programs The audit report for the City of Vidalia Board of Education did not disclose any reportable conditions in internal control over major programs. \r\n \r\n5. Type of Report Issued on Compliance for Major Programs The auditor's opinion on the City ofVidalia Board ofEducation's report on compliance with requirements applicable to major programs was unqualified. \r\n \r\n6. Audit Findings Required to be Reported by Section .51 0(a) of 0MB Circular A-133 The City ofVidalia Board ofEducation's audit did not disclose audit findings required to be reported by section .510(a) of 0MB Circular A-133. \r\n \r\n7. Major Programs Federal awards audited as major programs are as follows: 10.553 Food Services - School Breakfast Program 10.555 Food Services - National School Lunch Program 84.027 Special Education - Grants to States 84.173 Special Education - Preschool Grants \r\n \r\n8. Type \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000. \r\n \r\n9. Low Risk Auditee The City ofVidalia Board ofEducation qualified as a low risk auditee as defined by Section .530 ofOMB Circular A-133. \r\n \r\n- 1- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2004 \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS CASH AND CASH EQUIVALENTS REVENUES/RECEIVABLES/RECEIPTS EXPENDITURES/LIABILITIES/DISBURSEMENTS Inadequate Internal Control Procedures Reportable Condition Finding Control Number: FS-7931-04-01 An examination ofthe principal's accounts, located at the various schools, disclosed weaknesses in internal controls as discussed below: \r\nCash and Cash Equivalents  The bank reconciliation was not reviewed by an administrator not directly connected with cash operations. \r\nRevenues/Receivables/Receipts  Cash receipts function was not separated from record keeping.  Based on a review of25 receipts, nine items did not contain supporting documentation. \r\nExpenditures/Liabilities/Disbursements  Based on a review of25 vouchers, one voucher was paid from a duplicate invoice; four vouchers lacked adequate supporting documentation; and four vouchers had a purchase order date that was after the invoice date. \r\nThese deficiencies were a result ofmanagement's decision to limit the number ofadministrative staff made responsible at the various principal account sites for accounting functions and their failure to ensure established controls were functioning as designed. Management should implement additional procedures to ensure that the key accounting functions ofcustody, record keeping and authorization are segregated and that appropriate accounting controls are utilized. III FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \r\nNo matters were reported. \r\n-2- \r\n \r\n SECTIONV MANAGEMENT'S RESPONSES \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF MANAGEMENT'S RESPONSES YEAR ENDED JUNE 30, 2004 \r\nFinding Control Number: FS-7931-04-01 \r\nWe have requested of management its views concerning this finding, its conclusions, its recommendations and the planned corrective actions. We have not received management's views as of the release of this audit report. \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b2002-h2003","title":"City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2003","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. 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Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Toombs County, Vidalia, 32.21769, -82.41346"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["2002-06-30"],"dcterms_description":["Began with: Fiscal year ended June 30, 2000; ceased with: Fiscal year ended June 30, 2008.","Report year covers fiscal year.","Has supplements: City of Vidalia Board of Education, Toombs County, Georgia, schedule of salaries and travel, fiscal year ended June 30, 2000-fiscal year ended June 30, 2002; Report on salary and travel for the fiscal year ended ... 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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-be33-bv3-b2001-h2002"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b2001-h2002"],"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\" \r\n \r\nAl700 \r\n \r\n.'K \\ -c \r\n \r\n1:33 \r\n \r\nV3 \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\nI \r\n \r\n; \r\n\" , ,s. \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\nI\" , \r\n \r\n\u003e \r\n \r\n-, ' , \r\n \r\n\" \r\n \r\nT \r\n \r\n:' \" \r\n \r\n\" \r\n \r\nSTATE'OF GEORGiA \r\n \r\n,\" . \r\n \r\n,' DEPARTM'ENT OF'AUriiTS,A'ND ACCOUNTS \r\n \r\n,f\"    , / . . . -, \r\n \r\nI, ~.~. r \r\n \r\nI \r\n \r\n\" , ' .. \\ \r\n \r\nI \r\n \r\n- \r\n \r\n~ l.' \r\n \r\n,~t, \r\n \r\n \r\n \r\n..\". \" \r\n \r\n, , , \r\n \r\n,\u003e \r\n \r\n,, \r\n\" \r\n\u003c \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\nt, .. \r\n--' \r\n \r\n... 1  ,~~ J' \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 , .I \r\n \r\n\" \r\n \r\n,. \r\n \r\n\" \r\n\", \r\n,, \r\n \r\n'I ~ \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\" \u003e, -,' \r\n\" \r\n \r\n.~.' \r\n, r 1-', \r\n,' \r\n\u003c \r\n \r\nI do \r\n..' \r\n,\" ,' \r\n,, \r\n\" \r\n,, \r\n \r\n\" \r\n \r\n\u003c, \r\n \r\n,', \r\n \r\n, \r\n \r\n.# - ~ \r\n \r\n,, \r\n \r\n. .' \r\n -- ,j \r\n \r\n.j \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\nr \r\n \r\n- \"' \r\n~.) \r\n \r\nJ \r\n \r\n,,, CITY OF VIDALIA BOARD,OF EDUCATION, \r\n \r\n\"i \r\n \r\n\" \r\n \r\n., \r\n \r\n,,: ' TOOMBS COUNTY,' GEORGIA; - . \r\n \r\n,.- \r\n \r\n\" \r\n-, \r\n \r\n~ T~ \r\n \r\n'. \r\n \r\n,; I  \r\n \r\n. \r\n \r\n., \r\n \r\n- \r\n \r\nI \r\n \r\nI \r\n \r\n,I' \r\n \r\n\" \r\n \r\n',:'\" '\" REPORT ON AUDIT \r\n \r\n.- \r\n \r\n,; \r\n \r\n\" ,'-- OF, THE FIr:iANCIAi Sr'ATEMENTS.' \r\n \r\n. \r\n \r\n\" \r\n \r\n': FOR THE FISCAL YEAR ENDED JUNE 30, 200t. ~' \r\n \r\n.- , \r\n \r\n\" \r\n \r\n,' \r\n \r\n-, \r\n \r\n\" \r\n \r\nI \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\nl'  I. \r\n \r\n\" \r\n \r\n\" \r\n \r\n,' \r\n \r\n, \r\n \r\n-\\ ~\u003e Russell W. Hinton' - \r\n \r\n,\" stat~ Auditor \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',- , J, ~  \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 CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GI:NERAL-PURPOSE FINANCIAL STA1 HvIENTS AND SUPPLEMENTMY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\nEXHIBITS \r\n \r\nGENERAL-PURPOSE FINANCIAL STATEMENTS \r\n \r\nCOMBINED STATEMENTS - OVERVIEW \r\n \r\nA \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\nALL FUND TYPES AND ACCOUNT GROUP \r\n \r\n2 \r\n \r\nB \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nALL GOVERNMENTAL FUND TYPES \r\n \r\n4 \r\n \r\nC \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\n(NON-GAAP BASIS) \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n7 \r\n \r\nD \r\n \r\nSTATEMENT OF REVENUES, EXPENSES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nFIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND \r\n \r\n8 \r\n \r\nE \r\n \r\nSTA fEMENT OF CASH FLOWS \r\n \r\nFIDUCIARY FUND TYPE - NONEXPENDABLE TRUST rUND \r\n \r\n9 \r\n \r\nI' NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\n \r\n10 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING STATeMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nG \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n22 \r\n \r\nH \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURLS \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n24 \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nI \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n26 \r\n \r\nJ \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n28 \r\n \r\nDEBT SERVICE FUND \r\n \r\nK \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n30 \r\n \r\nL \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n31 \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY -TABLE OF CONTENTS- \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nADDmONAL FINANCIAL INFORMATION \r\n \r\nSCHEDULES \r\n \r\nI SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\n32 \r\n \r\n2 SCHEDULE OF STATE REVENUE \r\n \r\n34 \r\n \r\n3 SCHEDULE OF APPROVED LOCAL OP nON SALES I AX PROJECTS \r\n \r\n37 \r\n \r\nALLOTMENTS AND EXPENDITURES \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS (QBE) \r\n \r\n4 \r\n \r\nBY PROGRAM \r\n \r\n38 \r\n \r\n5 \r\n \r\nBY SITE \r\n \r\n39 \r\n \r\nSECTION II \r\nCOMPLIANCE AND INTERNAL CONTROL REPORTS \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WTm GOVERNMENT AUDITING STANDARDS \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-l33 \r\n \r\nSECTION III AUDlTEE'S RESPONSE TO PRJOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRJOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\nSECTIONN FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\n \r\n SECTION I FINANCIAL \r\n \r\n RI'''MII W.llIl'olOl'o ron s IATr 4,U()1 \r\n(:4. f::~ 2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n2'\\4 \\V.l'..hmglon SIn.:ct ~ W ~UIIC 214 All.ml,1 GL'OrgJ..l ~()134-!S4(Jl) \r\nApnl 11, 2003 \r\n \r\nHonorable Sonny Perdue, Governor Members of the Gcneral Assembly Membcrs of the State Board of Educal10n \r\nand Supenntendent and Members of the City ofVldaha Board of Educal10n \r\nfNDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMEI\\'TS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nLadles and Gentlcmen \r\nWc havc audIted the acwmpanYlng gcncral-purpose finanCIal statcments of thc City of VidalIa Board of EducatIOn, as of and for thc year ended June 30, 2002, as hsted rn the table of contents These general-purpose financIal statements are the responslblhty of the City of Vidalia Board of Educal1on's management Our responslblhty IS to cxpress an opmlOn on these general-purposc financial statements based on our audit \r\nWe conducted our audit m accordance With auditing standards generally accepted m the Umtcd States of Amenca and thc standards apphcable to financial audIts contained rn Government Audltmg Standards, Issued by thc Comptroller General of the Umted Stales Those ,tandards require that we plan and pcrfonn the audit to obtam reasonable assurancc about whether thc financial ~tdtcments are free ofmatenal mlsstatcmcnt An audIt mcludes exammmg, on a test baSIS, eVluence ,upportmg thc amounts and disclosures In the financial statcmcnts An audit also mcludes assessmg the accountmg pnnclplcs used and SignIficant estimates made by managcmcnt, as well as evaluatrng thc ovcrall financial statement presentalIon We beheve that our audit proVides a rcasonablc baSIS for our opmlon \r\nAs descnbed In the notes to the general-purposc financial statements, the Board of EducatIOn's financial statements have been prepared uSing certam accountmg pracl1ces and pohcles which. In our opmlOn, vary rn some respects from generally accepted accountmg pnnclples These vanances arc desenbed as follows \r\n \r\n2002ARL-13 \r\n \r\n * The general-purpose financial statements of the Board of Education did not contaIn a \r\nGeneral Fixed Assets Account Group to account for property and eqUIpment owned by the Board of EducatIon which should be Included to conform to generally accepted accountIng pnnclples \r\n* School actlVlty accounts maIntaIned at the IndiVidual schools are not Included In the \r\ngeneral-purpose finanCial statements To conform to generally acccpted accountmg pnnclples, these accounts should be Included In the general-purpose finanCial statements \r\n* For fiscal year 2002, the School Dlstnct changed Its method of accountIng for the final \r\ntwo payments on one hundred and ninety day employment contracts and the related revenue due from the State to fund these contracts Adjustments have been made In the fiscal year 2002 finanCial statements to record expenditures for salanes and fnnge benefits earned by employees through June 30, 2002, (even though paid In July and August 2002) and the related revenue due from the State to fund these contracts No adjustment was made for the Similar salanes and benefits earned m fiscal year 2001 but recorded In fiscal year 2002 as thiS mformatIon WdS not readily avaIlable The net effect of the above accountIng treatment resulted In the accompanYIng finanCial statements reflectIng fourteen months of expenditures for a maJonty of General Fund salanes and fnnge benefits and fourteen months of revcnue from the State to fund thesc contracts Generally accepted accountIng pnnclples require that expenditures be recorded when Incurred, rather than when funds are recclved or disbursed \r\nThe aggrcgate effects on the gcneral-purpose finanCial statements of these vanances or omiSSIOns have not been determmed, but are belIeved to be matenal \r\nIn our OpIniOn, except for the effects on the general-purpose finanCial statements of the matters referred 10 m the precedIng paragraph, the general-purpose finanCial statements referred to above present fairly, In all matenal respects, the finanCial positIOn of the City of Vidalia Board of EducatIOn as of Junc 30, 2002, and the results of Its opcratlOns and thc cash flows of ItS nonexpendable trust fund for the year then ended, In confomuty with accountIng pnnclples generally accepted In thc United States of Amenca \r\nIn accordance With Government AuditIng Standards, we have also Issued our report dated Apnl 11, 2003, on our conSideratIon of the City of VIdalia Board of EducatIon's Internal control over finanCial reportIng and our tests of Its compliance With certaIn proVISIOns of laws, regulations, contracts and grants That report IS an mtegral part of an audit performed In accordance With Government AuditIng Standards and should be read In conjunction With thiS report In consldenng the results of our audit \r\nOur audit was performed for the purpose of formIng an OpiniOn on the general-purpose finanCial statements of the City of Vidalia Board of EducatIOn taken as a whole The accompanYIng combInIng statements (Exhibits G through L) and the finanCial schedules (Schedules I through 5), whIch Includes the Schedule of Expenditures of Federal Awa-rds a-s reqUired- by U S Office of \r\n2002ARL-13 \r\n \r\n Management and Budget CIrcular A-133, Audlls of States, Local Go~'ernments, and Non-Profit OrganizatIOns, are presented for purposes of additIonal analySIS and are not a rcqUired part of the general-purpose financial statements Such mfonnatIon has been subjected to the audltmg procedures apphed m the audit ofthe general-purpose financIal statements and m our OpInIOn, except for the effects of the mattcrs referred to m the thIrd paragraph, such mfonnatlon IS faIrly stated. m all matenal respccts, m relation to the general-purpose financial statements taken as a whole \r\nA copy of thiS report has been filed as a pennanent record m the office ofthe State Auditor and made avaIlable to the press ofthc State, as provIded for by OfficIal Code ofGeorgIa Annotated Section 506-24 \r\n~\"\"fuIlY'\"b~. \r\n \r\nRWHas 2002ARL-13 \r\n \r\nRus II W Hmton State Auditor \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\n \r\n CITY OF \\!IDALIA BOARD OF EpUCATION - TOOMBS CQUNTY COMBINED BALANCE SHEET \r\nALL FUND TYPES ANp ACCOUNT GROUp JUNE 30 2002 \r\n \r\nCash and Cash EqUivalents \r\nInvestments \r\nAccount! ReC8JVsb1e \r\nInventonea Food Donated Commodities Purchased Food \r\nAmount AvsllabIe In Debl Sef\"\"i1Ce Fund \r\nAmount to be Provided In Future Year! \r\nFor Pl1'jment of Bond Debt \r\n \r\nGENERAL FUND \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\ns \r\n \r\n37619289 S \r\n \r\n6963629 S \r\n \r\n65850479 \r\n \r\n1 50237667 \r\n \r\n4658689 \r\n \r\n2,10761607 \r\n \r\n24674204 \r\n \r\n29071946 \r\n \r\n20756 24 395545 \r\n \r\nTotal As!8ls \r\n \r\nS 3.986118763 S \r\n \r\n38768091 S 1,14922425 \r\n \r\nUABIUTlES AND FUND EQUfTY \r\nLIABILITIES \r\nCash Overdran Accounts Psyable SaI8IlEt! Payabl., Explred Grant Balance! Payable Contracts Payable Retamag8! Payabla Detarred Revenue General ObllgBbon Bonds Pllyl!lble \r\nTota!LlSbllllles \r\nFUND EQUITY \r\nFuod IlaIanceo R.,58rve\u003c! For Bus Replacement Funds For Debt SeMCe For Endowment Corpus For Inventones Food Donated Commodrtles Purchased Food For Purpose of Bond Issue \r\nFor SPLOST f'ro!eds \r\nUnreserved Und\u0026Slgnated \r\nTotal Fund Equrty \r\n \r\nS \r\n \r\n282 e01 81 S \r\n \r\n1 254 364 82 \r\n \r\n3067305 12513760 \r\nS \r\n463958 \r\n \r\nS 1 53726663 S \r\n \r\n160,45043 S \r\n \r\n2537400 2764 00 \r\n28,13800 \r\n \r\nS \r\n \r\n17 453 00 \r\n \r\nS \r\n2,431 ,46800 S 2,44892100 S \r\n \r\n20 756 24 395545 S \r\n202,51879 227.23048 S \r\n \r\n1779541 107646733 \r\n26,82351 \r\n1121,086 25 \r\n \r\nTotalbJabUlbes and FUnd Equity \r\n \r\nS 319861187 63 S \r\n \r\n3a71680 91 S 11149122425 \r\n \r\nThe notes to the general-purpose ftnal'lClal statements lire an rnlegraJ p8rt of thl! statement 2 \r\n \r\n EXH1BIT~N \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nFIDUCIARY FUND TYPE NONEXPENDABLE TRUST FUND \r\n \r\nACCOUNT GROUP GENERAL \r\nLONGTERM DEBT \r\n \r\nTOTALS \r\n \r\n(Memorandum Only) \r\n \r\nJUNE 30, 2002 \r\n \r\nJUNE 30, 2001 \r\n \r\nS \r\n \r\n287731 21 S \r\n \r\n83367 \r\n \r\nS 1,592,900 85 $ \r\n \r\n950 663 93 \r\n \r\n61 10 \r\n \r\n1,549,02866 \r\n \r\n1456 908 58 \r\n \r\n2645,077 57 \r\n \r\n1625265 13 \r\n \r\nS \r\n \r\n28773121 \r\n \r\n2692,26879 \r\n \r\n20 756 24 395545 \r\n287731 21 \r\n269226879 \r\n \r\n15 056 51 379440 1564881 \r\n3,199,351 19 \r\n \r\nS \r\n \r\n287,731 21 S \r\n \r\n894 77 S \r\n \r\n2,980 000 00 S 8791,71877 S 7,266,688 55 \r\n \r\nS \r\n \r\n171440 90 \r\n \r\nS \r\n \r\n31357486 \r\n \r\n26494 52 \r\n \r\n1 37950262 \r\n \r\n10391113 \r\n \r\n2 022 98 \r\n \r\n2537400 \r\n \r\n17984517 \r\n \r\n2 754' 00 \r\n \r\n39234 85 \r\n \r\n463958 \r\n \r\n1093803 \r\n \r\nS \r\n \r\n2980 000 00 \r\n \r\n2,980 000 00 \r\n \r\n3215 000 00 \r\n \r\nS \r\n \r\n2,980 000 00 S 4,705,85506 S 374888758 \r\n \r\nS \r\n \r\n287731 21 \r\n \r\nS \r\n \r\n000 \r\n \r\nS \r\n \r\n287,731 21 S \r\n \r\nS \r\n \r\n287.731 21 S \r\n \r\n894 77 \r\n000 894 77 \r\n \r\nS \r\n \r\n1745300 \r\n \r\n28773121 S \r\n \r\n894 77 \r\n \r\n1554'881 92508 \r\n \r\n20 756 24 3,95545 \r\n17 79541 107646733 \r\n \r\n15 056 51 3794 40 \r\n168 355 07 80106613 \r\n \r\n2660810 30 \r\n \r\n2,512,954 97 \r\n \r\nS 4,085,86371 S 3517 800 97 \r\n \r\n894 77 S \r\n \r\n2:980,000 00 S 8791,71877 S 7:266,68855 \r\n \r\n3 \r\n \r\n CITY OF VlDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES \r\nALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30 2002 \r\n \r\nREVENUES \r\nSlate Foods Federal Funds Taxes Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent InstruclJon \r\nSupport ServIces Pupil serviceS Improvement of Instructlonal ServIces EdueatlOnal Macha SeMces General Adm,mstrabon School AdmlnlstralJon Busaness Admlntstratlon Mall1tenance and OperalJon of P(ant Student Transportation 5ervK:es Central Support ServIces Other Support ServICes \r\nFood SeNlce. OperabOl1 Community ServIces Operations caprtal Outlay Debt Service PnncIpaJ Interest Paying Agent Fe.. \r\nTal.! Expenditures \r\nExcess of Revenues over (under) Expendrtures \r\nOTHER FINANCING SOURCES rUSES) \r\nOperating Transfero In Operating Transfen; Out \r\nTotal Other Fmanang SOurces (Uses) \r\nExcess of Revenues and Other FU\\3no.ng Sources over (lXlder) Expenditures and Other Fmanong Uses \r\nFUND BALANCE JULy 1 \r\nFood Inventory - Net Change In PerIod Donated Commodrtles Purchased Food \r\nFUND BALANCE JUNE 30 \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\nS 12,086 092 47 S \r\n3090 989 28 0422836 50 \r\n$ 15.599.91825 $ \r\n \r\n12827099 191239759 \r\n248,07396 \r\n2,288,74254 \r\n \r\n$ 10,93934166 S \r\n61308400 17589327 434,12725 41508359 101221288 154 063 44 936 608 44 279,246 36 \r\n20,664 12 \r\n121,31150 \r\n \r\n101531060 3939519 \r\n21631396 64 197 86 \r\n51,90570 92300 \r\n894,18325 \r\n \r\n$ 15,101,636 51 $ \r\n \r\n$ \r\n \r\n498,281 74 $ \r\n \r\n2,282229 56 651298 \r\n \r\n$ \r\n \r\n-33322250 \r\n \r\n$ \r\n \r\n-333,22250 \r\n \r\n$ \r\n \r\n16505924 $ \r\n \r\n2283 861 76 \r\n \r\n6,51298 214856 72 \r\n \r\n569973 161 05 \r\n \r\n$ 2,448,921 00 $ _-,2.:2,:,7.:;,2:::30::.;48;:::. \r\n \r\nThe notes to the general-purpose finallClsl statements are an Integral part of this statement -4 - \r\n \r\n EXHIBIT\"B\" \r\n \r\nCAPITAl PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTALS \r\n \r\n(Memorandum Only) \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2002 \r\n \r\nJUNE 30 2001 \r\n \r\n$ \r\n \r\n30,000 00 \r\n \r\nS 12,2,363 46 $ 10,369,430 15 \r\n \r\n1,912,39759 \r\n \r\n1 633,92821 \r\n \r\n952,686 OS $ \r\n \r\n67984261 \r\n \r\n4723517 97 \r\n \r\n454997823 \r\n \r\n9,06993 \r\n \r\n1,817 29 \r\n \r\n681,79768 \r\n \r\n831,99577 \r\n \r\n$ \r\n \r\n991,756 01 $ \r\n \r\n681,65990 $ 19,562,07670 $ 17,385,332 36 \r\n \r\n$ 1.206 400 56 $ \r\n \r\n$ 1 206,40056 $ \r\n \r\n$ \r\n \r\n-214665 $ \r\n \r\n$ 11,954 652 26 $ 9859709 20 \r\n \r\n652479 19 392,20723 434 127 25 479281 45 1,01221288 154,063  936 608 33115206 \r\n92300 2066412 894,18325 \r\n'21,3\"50 1206 400 56 \r\n \r\n514,41813 40806340 372,72027 500 799 40 1 04B 149 50 161 06002 897,73549 34734096 \r\n709 50 26 316 34 909 145 01 11941057 859,660 59 \r\n \r\n23500000 17378250 \r\n79500 \r\n \r\n235,000 00 173,78250 \r\n79500 \r\n \r\n20500000 183 725 00 \r\n79500 \r\n \r\n409,577 50 $ 18,999,844 43 $ 16,414,75838 \r\n \r\n272,062 40 $ \r\n \r\n562,23227 $ \r\n \r\n970,57398 \r\n \r\n$ \r\n \r\n333,222 50 \r\n \r\n$ \r\n \r\n333.22250 \r\n \r\n$ \r\n \r\n333,22250 $ \r\n \r\n11228274 \r\n \r\n-333,22250 \r\n \r\n-112.26274 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n000 \r\n \r\nS \r\n \r\n116,57765 $ \r\n \r\n1002,506 80 \r\n \r\n272 062 40 S 15,64881 \r\n \r\n562,23227 $ 351687589 \r\n \r\n97057398 2,542,12645 \r\n \r\n5,699 73 16105 \r\n \r\n... 17732 -I 56 \r\n \r\n$ '.12'.086 25 S \r\n \r\n287.73121 $ 4,084,968 94 S 3,516.87589 \r\n \r\n- 5- \r\n \r\n CITY Of VIDALIA BOARD Of EDUCATION - TOOMBS COUNTY COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES \r\nBUDGET AND ACTUAL - lNON=GMP BASIS) GENERAL AND SPECIAL REVENUE fUNDS \r\nYEAR ENDED JUNE 30 2002 \r\n \r\nEXHIBIT ~C\" \r\n \r\nGENERAl FUND \r\n \r\nBUDGET \r\n \r\nACTUAL \r\n \r\nREVENUES \r\n \r\nStale funds Federal Funds Taxes Other Funds \r\n \r\n$ 10697,26700 $ 12,086 092 47 \r\n \r\n2819809 56 36100000 \r\n \r\n3090 989 28 422,836 50 \r\n \r\nTotal Revenues \r\n \r\n$ 13,878,07656 $ 15,599 918 25 \r\n \r\nEXPENDITURES \r\n \r\nCurrent InstrudJon \r\nSupport SeMces \r\nPupd Servlces lmprovemem oflnS1ructtonal Services EducatIOnal Media ServICeS General AdmmlstralJon Sdlool AdmnlS1rabOn BUSiness Adrmmstrabon Maurtenance 800 Operabon of Plant \r\nStudent TransportallOn SeMc:es \r\nCentrBI Support ServICeS Other Support $eMC8S Food Services Opera\"\"\" Corrvmruty ServICeS Operahons \r\n \r\n$ 9654 404 71 $ 1093934166 \r\n \r\n44904299 163 44651 39399839 417 120 81 104523780 182 S40 52 1,07387000 28374900 \r\n \r\n613064 00 175,89327 434,12725 41508359 101221288 15406344 936 608 44 27924636 \r\n \r\n22700 00 \r\n \r\n2066412 \r\n \r\n105,00000 \r\n \r\n121,31150 \r\n \r\nTotal Expenditures \r\n \r\n$ 13791,11073 $ 15,101,63651 \r\n \r\nExcess of Revenues over (under) Expenchlures \r\nOTHER FINANCING SOURCES (USES) \r\n \r\n$ \r\n \r\n86 965 83 $ 498281 74 \r\n \r\nOther Source\u0026 Other Uses \r\n \r\n$ -333222 50 \r\n \r\nTotal Other FlO8OQ01g Sources (Uses) \r\n \r\n$ -333222 50 \r\n \r\nExcess of Revenues and Other Flnancmg Sources over (under) Expendrtures end Other Flnanang Uses $ \r\n \r\n86 965 83 $ \r\n \r\n16505924 \r\n \r\nFUND BALANCE JULY 1 2001 \r\n \r\n2366 806 57 \r\n \r\n2,28386176 \r\n \r\nAdJU$tmenta food Inventory - Net Change Ql Pertod \r\nDona1ed CommodrtJes Purchased Food \r\n \r\nFUND BALANCE JUNE 30 2002 \r\n \r\nS 245377240 S 2448.921 00 \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nBUDGET \r\n \r\nACTUAL \r\n \r\n$ 11988000 $ 12827099 \r\n \r\n1 93747400 \r\n \r\n1,91239759 \r\n \r\n259,200 00 \r\n \r\n24807396 \r\n \r\n$ 2,316,554 00 $ 2,268,74254 \r\n \r\n$ 966 252 03 $ 101531060 \r\n \r\n37,60000 23304900 \r\n \r\n3939519 21631396 \r\n \r\n8317600 \r\n \r\n64 19786 \r\n \r\n25258 00 \r\n851900 100408700 \r\n \r\n51 90570 92300 \r\n894 18325 \r\n \r\n$ 235794103 $ 2282,22956 \r\n \r\n$ -4138703 $ \r\n \r\n651298 \r\n \r\n$ 21000 00 -2100000 \r\n \r\n$ \r\n \r\n000 \r\n \r\n$ -41 38703 $ \r\n \r\n651298 \r\n \r\n206 687 76 \r\n \r\n214858 72 \r\n \r\n-902352 \r\n \r\n569973 16105 \r\n \r\nS 15627721 $ 22723048 \r\n \r\nThe notes to the generaJ-purpose ftoellCl8l 6tatemen1s are an UlIegral part Of ttns stalemenl \r\n-7- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES \r\nFIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND YEAR ENDED JUNE 30, 2002 \r\n \r\nEXHIBIT \"D\" \r\n \r\nOpERATING REVENUES None Recorded \r\nOPERATING EXPENSES Current Scholarships Operabng Income (Loss) \r\nNONOPERATING REVENUES DIVidends Earned Net Increase (Decrease) In the Fa\" Value of Investments Nonoperating Revenues Net Income (Loss) \r\nFUND BALANCE JULY 1 \r\nFUND BALANCE JUNE 30 \r\n \r\nENDOWMENT FUND \r\nSARA A MURCHISON SCHOLARSHIP \r\nFUND \r\n \r\nTOTALS \r\n \r\n(Memorandum Only) \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2002 \r\n \r\nJUNE 30, 2001 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n000 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n000 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n000 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n027 $ \r\n \r\n027 \r\n \r\n-3058 \r\n \r\n-3058 $ \r\n \r\n-5,47024 \r\n \r\n$ \r\n \r\n-30 31 $ \r\n \r\n-3031 $ \r\n \r\n-5,47024 \r\n \r\n$ \r\n \r\n-3031 $ \r\n \r\n-3031 $ \r\n \r\n-5,47024 \r\n \r\n92508 \r\n \r\n92508 \r\n \r\n6,39532 \r\n \r\n$ \r\n \r\n894 77 $ \r\n \r\n894 77 $ _~=~9~25~08;:.. \r\n \r\nThe notes to the general-purpose finanCIal statements are an Integral part of thiS statement - 8- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF CASH FLOWS \r\nFIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND YEAR ENDED JUNE 30, 2002 \r\n \r\nEXHIBIT \"E\" \r\n \r\nCash Flows from Operabng ActiVIties Cash Paid for Scholarships \r\nCash Flows from Investmg ActlVrtles D,v,dends Received on Investments \r\nNet Increase (Decrease) on Cash Cash and Cash Equivalents - July 1 \r\nCash and Cash EquIValents - June 30 \r\n \r\nENDOWMENT FUND \r\nSARA A MURCHISON SCHOLARSHIP \r\nFUND \r\n \r\nTOTALS \r\n \r\n(Memorandum Only) \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2002 \r\n \r\nJUNE 30, 2001 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n000 S \r\n \r\n000 \r\n \r\n$ \r\n \r\n027 $ \r\n \r\n027 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n027 $ \r\n \r\n027 $ \r\n \r\n000 \r\n \r\n83340 \r\n \r\n83340 \r\n \r\n83340 \r\n \r\n$ \r\n \r\n83367 $ \r\n \r\n833 67 $ ~~=,g8~33~4~0~ \r\n \r\nThe notes to the general-purpose finanCial statements are an Integral part of thiS statement -g- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"F\" NOTES TO TIlE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2002 \r\nNotc I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nREPORTING ENTITY \r\nThe City of VidalIa Board of EducatIOn (School Dlstnct) was establIshed under the laws ofthc Statc of GeorgIa and opcrates under the gUidance of a school board elected by the voters and a Supenntendcnt appomted by the Board The School Dlstnct IS organized as a separatc lcgal entIty and has the power to levy taxes and Issue bonds Its budget IS not subJcct to approval by any other entity Accordmgly, the School Dlstnct IS a pnmary government and consists of all the orgamzatIons that compose ItS lcgal entity \r\nFUND ACCOUNTING \r\nThc School Dlstnct uses funds and an account group to report on ItS financial posItIon and the results of ItS operatIons Fund accountIng IS deSigned to demonstratc lcgal complIance and to aid fmanclal management by segregatmg transactIOns related to certam governmental functIons or activities A fund IS a separate accountmg entIty With a self-balancmg set of accounts An account group IS a finanCial reportmg deVice deSigned to proVide accountabilIty for certam asscts and lIabilItIes that are not recorded m the funds because they do not directly affect cxpcndable aVailable financial resources, \r\nGeneraJ Fixed Assets are recorded as expenditures m thc vanous funds at thc lImc of purchase A General Fixed Assets Account Group IS not presently mamtamcd by the School Dlstnct To conform to gcnerally acccptcd accountmg pnnclples, a General Fixed Assets Account Group should be mamtamed for reportmg the cost of assets acqulrcd by governmental fund typcs \r\nAlthough \"school activity accounts\" are maIntamed at the mdlvldual schools, neither the asscts, lIabilIties and fund eqUIty, nor the revenues, expenditures and changes m fund balances of these accounts are reflected m these finanCial statements To conform to generally accepted accounting pnnclples, these accounts should be recorded m the general-purpose finanCial statements \r\nThc general-purpose finanCial statemcnts account for all State, Fedcral, Ta.xes and Other funds under control of thc School DIStnCt, In complIance With generally accepted accounting pnnclples applIcable to governmental umts, unless otherwise disclosed m these notes Funds and thc account group presented m thiS report are as follows \r\nGOVERNMENTAL FUND TYPES - are used to account for all or most of the School Dlstnct's cducatlOnal actiVIties Governmcntal Fund Types mclude' \r\nGENERAL FUND - the fund used to account for all finanCial resources of the School Dlstnct except those reqUIred to bc accounted for m another fund These transactions relatc to resourccs obtained and used for services proVided by a board of cducatlon \r\n- 10 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COlJJ\\'TY EXHIBIT \"F\" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2002 \r\nNote I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nSPECIAL REVENUE FUND - the fund used to account for thc proceeds of specific revenue sources (other than for major capital proJects) that are legally restnctcd to expenditures for specified purposes These funds are received pnmanly from the GeorgIa Department of Educallon and from the Federal government to accomphsh specific educallonal obJcclIves \r\nCAPITAL PROJECTS FUND - the fund used to account for financIal resources to be used for the acqulSllIon or constructIOn of major capital faclhtles \r\nDEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term pnnclpaJ, mterest and paYIng agent fees \r\nFIDUCIARY FUND TYPE - the fund used to account for assets held by a government umt m a trustee capacIty or as an agent for mdlvlduals, pnvate organizations, othcr government Units and/or other funds, This fund mcludes \r\nNONEXPENDABLETRUSTFUND Sara A. Murchison Scholarship Fund - the fund used to account for an endowment of which the corpus IS to be mvested and preserved mtact With the resultant mcome to be uscd to proVIde college scholarshIps to Vldaha City High School Seniors \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - A finanCial reportmg deVIce used to account for general obhgallon debt outstandmg \r\nBASIS OF ACCOUNTING \r\nThe accountmg and finanCial reportmg trealment apphed to a fund IS determmed by ItS measurement focus All governmental funds are accounted for usmg a current finanCial resources measuremcnt focus With thiS measurement focus, only current assets and current hablhlIes gencrally are mcluded on the balance sheet. Operatmg statements ofthese funds present mcreases (I c , revenues and other financmg sources) and decreascs (I e ,expenditures and othcr financmg uses) m nct current assets TheIr reported fund balance IS conSIdered a measure of aVaIlable spcndable resources, \r\nLIablhtles which are expected to be financed from aVaIlable spendable resources are reported as hablhlIes m the governmental funds Other hablhtles, whIch are not expected to he financed from avallable spendable resources, arc reported m the General Long-Term Debt Account Group \r\nAll nonexpendable trust funds are accounted for on a flow of economic resources measurement focus Wtth thiS measurement focus, all assets and hablhlIes assoc13ted With the operallon of these funds are mcluded on the balance sheet Operatmg statements present mcreases (e g, rcvenues) and decreases (e g\" cxpenses) m net total assets \r\n- II - \r\n \r\n - - - - - - - - - - - - - - - - - - - - -.,..~ ..__............. \r\nCITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY EXHIBIT \"F\" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30. 2002 \r\nNote l' SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nGovernmental funds are accounted for using the modI fied accrual basIs of accountmg undcr which \r\nRevenues are recogmzed when susceptible to accrual (I e , when they become both measurable and available). \"Measurable\" means the amount of the transactIOn can be determmed and \"available\" means collecnble wlthm the current penod or soon enough thereafter to be used to pay liabilitIes of the current penod. The School Dlstnct conSIders receivables collected wlthm sixty days after yearend to be available Property taxes, sales taxes and Interest are conSIdered to be susceptible to accrual. Nonexchange transactions, m whIch the School Dlstnct gives (or receIves) value wIthout dIrectly receIVIng (or gIvmg) equal value m exchange, mclude property taxes, local option sales taxes, mtergovernmental grants and donations. Revenue for property tall.es IS recOgnIZed m the fiscal year for which the taxes are leVIed. Revenue from sales taxes IS recognized m the fiscal year the resources are receIved or susceptible to accrual Revenue from grants and donatIons IS recognIzed m the fiscal year m which all elIgIbIlIty reqUirements have been satisfied \r\nExpenditures are generally recognized when the related fund lIabIlIty IS mcurred \r\nFor fiscal year 2002, the School Dlstnct changed ItS method of accountmg for the final two payments on one hundred and mnety day contracts and for the related revenue due from the State to fund these contracts Adjustments have been made m the fiscal year 2002 finanCial statements to record expenditures for salanes and funge benefits earned by employees through June 30, 2002, (even though paId m July and August 2002) and the related revenue due from the State to fund these contracts ThIs change IS m accordance With generally accepted accountmg pnnclples No adjustment was made for the SimIlar salanes and benefits earned m fiscal year 2001 but recorded m fiscal year 2002 as thIs mformatlOn was not readIly available \r\nThe net effect ofthe above accountIng treatment resulted m the accompanymg financial statements reflectmg fourteen months of expenditures for a maJonty of General Fund salarIes and fnnge benefits and the related revenue due from the State to fund these contracts Generally accepted accountmg pnnclples requIre that revenues be recorded when aval1able and measurable and that expenditures be recorded when mcurred, rather than when funds are received or dIsbursed \r\nThe accrual basIS of accountmg, as reqUired by generally accepted accountmg pnnclples, IS utilIzed by nonexpendable trust funds Under the accrual basIS of accountmg, revenues are recorded when earned and expenses are recorded at the tIme lIabIlIties are mcurred \r\nBUDGET \r\nThe City ofVidalia Board of Education's budget IS a complete fmanclal plan forthe School Dlstnct's fiscal year and IS based upon estimates of expenditures together WIth probable fundmg sources There IS no statutory prohIbition regardmg overexpendlture ofthe 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 accountmg pnnclples \r\n- 12 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY EXHffilT \"F\" NOTES TO TIlE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30. 2002 \r\nNote I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nThe budget process begins when the School Dlstnct's admlmstrallon prcpares a tentatIve budget for the Board's approval. After approval ofthIs 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 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 Secllon 20-2-1 67(c), to the Georgia Department of Educallon The Board may Increase or decrease the budget at any tIme dunng the year All unexpended budget authonty lapses at fiscal year-end \r\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF DEPOSITS Cash and cash eqUivalents consist ofcash on hand, demand dcposlts and short-term mvestments With ongmal matunlles of three months or less from the date of acqUlslllon m authonzed finanCIal mslltullons. Georgia Laws OCGA 45-8-14 authonze the School Dlstnctto dCPOSltltS funds m one or more solvent banks or msured Federal savings and loan asSOCIatIOns \r\nINVESTMENTS \r\nCOMPOSITION OF INVESTMENTS Investments made by the School Dlstnct In nonparticipating interest-earning contracts (such as certificates ofdepOSit) and repurchase agreements are reported at cost Partlclpatmg mterest-earnmg contracts and money market mvestments With a matunty at purchase ofone year or less are reported at amortized cost Both partlclpatmg mterest-earnlng contracts and money market Investments WIth a matunty at purchase greater than one year and eqUity Investments are reported at faIr value The OffiCial Code of GeorgIa Annotated SectIOn 36-83-4 authonzes the School Dlstnct to Invcst ItS funds and In selecting among opllons for Investment or among Inslltullonal bids for depOSits, the hIghest rate of return shall be the obJecllve, given eqUivaJent condillons of safety and lIqUidity Funds may be Invested In the follOWing' \r\n(I) OblIgallons Issued by the State of Georgia or by other states, \r\n(2) OblIgatIOns ISSUed by the Umted States government, \r\n(3) OblIgatIOns fully Insured or guaranteed by the Umted States government or a Umted States government agency, \r\n(4) OblIgallons of any corporallon of the Umted States government, \r\n(5) Pnme banker's acceptances, \r\n(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services, \r\n- 13 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHffiIT \"F\" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30. 2002 \r\n \r\nNote 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\n(7) Repurchase agreements, and \r\n \r\n(8) OblIgallons of other polIllcal subdlVlsIOns ofthc Statc of Georgia \r\n \r\nRECEIVABLES \r\n \r\nReceIvables COnsist of grant reImbursements due on Federal, State or other grants for expenditures made but not reImbursed and other receivables disclosed from mformatIOn avallable. Receivables are recorded when either the asset or revenue recogmtIOn cntena has been met Receivables recorded on the general-purpose finanCial statements do not mclude any amounts which would necessItate the need for an allowance for uncollecllble receivables \r\n \r\nPROPERTY TAXES \r\n \r\nThe CIty of Vldaha fixed the property tax levy for the 2001 tax dIgest year (calendar year) on October 22, 2001 (levy date) Taxes were due on December 22,2001 (lIen date). Taxes collected wlthm the current fiscal year orwlthm 60 days after year-end on the 2001 tax digest are reported as revenue m fiscal year 2002 The VidalIa City Clerk bills and collects the property taxes for the School Dlstnct and remits the balance of taxes collected to the School Dlstnct Property tax revenues dunng the fiscal year cnded June 30, 2002 for mamtenance and operations amounted to $3,090,989 28 \r\n \r\nThe tax mIllage rate leVIed for the 2001 tax year (calendar year) for the CIty ofVldaha Board of Educallon was as follows (a mill equals $1 per thousand dollars of assessed value) \r\n \r\nSchool Operallons \r\n \r\n14.936 mills \r\n \r\nSALES TAXES \r\n \r\nSpecial Purpose Local Opllon Sales Tax revenue dunng the year amounted to $1 ,632,528 69 and IS to be used for capital outlay for educatIOnal purposes or debt service ThiS sales tax was authonzed by local referendum and the sales tax must be re-authonzed at least every five years \r\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES Inventones of donated food commodilles used In the preparallon of mcals are reportcd on the Combmed Balance Sheet at theIr Federally asSigned value Purchased foods mventones are reported on the Combmed Balance Sheet at cost (first-m, first-out) Donated food commodities are recorded as revenues and expenditures at the time commodity Items are received Purchased foods mventones \r\n \r\n- 14 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNfY EXHIBIT \"F\" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30. 2002 \r\n \r\nNote I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nare recorded as expenditures at the time ofpurchase The mventones reported on the balance sheet for donated food commoditIes and for purchased foods are equally offset by reservatIons of fund balance which mdlcates that these amounts do not constItute \"avaIlable spendable resources\" even though thcy are a component of net current assets \r\n \r\nGENERAL OBLIGATION BONDS \r\n \r\nThe School Dlstnct ISSUes general obligatIon bonds to provide funds for the acqUlSltlOn and constructIon ofmaJor capital facilItIes. Bond premIUms and diSCOuntS, as well as Issuance costs, are recognized m the finanCial statements dunng the year bonds are Issued General obligatIon bonds are direct obligatIons and pledge the full faith and credit ofthe government The outstandmg amount of these bonds IS recorded In the General Long-Term Debt Account Group \r\n \r\nINTERFUND TRANSACfIONS \r\n \r\nThe School District has the followmg types of mterfund transactIons. \r\n \r\nReimbursements of expenditures/expenses InitIally made from a fund that are properly applIcable to another fund are recorded as expenditures/expenses m the relmbursmg fund and as rcductlOns of expenditures/expenses m the fund that IS reimbursed \r\n \r\nOperating transfers are recorded for all mterfund transactIOns other than rClmbursements \r\n \r\nMEMORANDUM ONLY - TOTAL COLUMNS \r\n \r\nTotal columns on the general-purpose finanCial statements are captIoned \"Memorandum Only\" to mdlcate that they are presented only to facIlitate finanCial analysIs Data m these columns do not present financial posillon, results ofoperatIons or cash flows m conformily With generally accepted accountmg pnnclples. Neither are such data comparable to a consolidatIon Interfund elimmatIons have not been made m the aggregatIon of thiS data \r\n \r\nDEFICIT FUND BALANCES \r\n \r\nThc fund reportmg a defiCit fund balance posItIon at Junc 30, 2002. IS as follows \r\n \r\nFund TvoelFund Name \r\n \r\nDefiCit Balance \r\n \r\nGovernmcntal Fund Typc CapItal Projects Fund Georgia State Fmancmg and Investment CommissIOn \r\n \r\nIn' the subscquent penod, the School Dlstnct antIcipates usmg Georgia State Fmancmg imd Investment CommiSSion SpeCial AppropnalJon procecds to ehmmate thiS deficil \r\n \r\n- 15 - \r\n \r\n ,  I. \r\nCITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"F\" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30. 2002 \r\nNote 2' DEPOSITS AND INVESTMENTS \r\nCOLLATERALIZATION OF DEPOSITS OffiCial Code of Georgia Annotated (OCGA) Section 45-8-12 proVides that there shall not be on depoSit at any bme m 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 collatcral The aggregate of the face valuc of such surety bond and the market value of secuntles pledged shall be equal to not less than I 10 percent ofthe public funds bcmg secured after the dcdUCtion ofthe amount ofdepOSit ln8urance \r\n If a depOSitory elects the pooled method (OCGA 45-8-13 I) the aggregatc ofthe market value ofthe \r\nsecuntles pledged to secure a pool ofpubhc funds shall be not less than II percent ofthe dally pool balance. OCGA SectIOn 45-8-11 (b) prOVIdes an officer holdIng pubhc funds may, In hiS discretIOn, waive the requirement for secunty In the case ofoperatmg funds placed m demand depoSit checkIng accounts \r\nAcceptable secunty for depoSits consIsts of anyone of or any combInatIOn ofthc follOWIng \r\n(I) Surety bond Signed by a surety company duly qualified and authonzed to transact bUSIness wlthm 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 obhgatlOns of the Umted 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 authonty created by the laws of the State of Georgia, proVidIng that the statute that created the authonty authonzcd the use of the bonds for thIS purpose, \r\n(6) Industnal revenue bonds and bonds ofdevelopment authontles creatcd by the laws of the State of Georgia, and \r\n(7) Bonds, bills, notes, certificates of Indebtedness, or other obhgatlOns of a subSidiary corporation of the Umted States government, whIch are fully guarantced by thc Umted States government both as to pnnclpal and mterest or debt obligations Issued by the Fedcral Ldnd Bank, the Federal Home Loan Bank, the Federal intermediate Credl\\ Bank, the Central Bank for CooperatIves, the Farm CredIt Banks, the Federal Home Loan Mortgage ASSOCiatIOn, and thc Federal National Mortgage ASSOCiation \r\nCATEGORIZATION OF DEPOSITS At June 30, 2002, thc bank balances were $4, 114,27902 The amounts ofthe total bank balances are clasSified Into three categones of credit nsk \r\n- 16 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"F\" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 3D. 2002 \r\n \r\nNote 2. DEPOSITS AND INVESTMENTS \r\n \r\nCategory I - Cash that IS Insured (e g, Federal deposItory Insurance) or collaterahzed WIth secuntIes held by the School Dlstnct or by the School Dlstnct's agent In the School Dlstnct's name \r\nCategory 2 - Cash collaterahzed WIth secuntIes held by the pledging financial instItutIon's trust department or agent In the School Dlstnct's name \r\nCategory 3 - Uncollaterahzed deposits. (ThiS mcludes any bank balance that IS collateralized With secUrIties held by the plcdgmg financial institutIOn, or by ItS trust department or agent but not m the School Dlstnct's name) \r\n \r\nThe School Dlstnct's depOSIts are classIfied by nsk category at June 30, 2002, as follows \r\n \r\nRIsk Category \r\n \r\nBank Balance \r\n \r\nI \r\n \r\n$ 230,12144 \r\n \r\n2 \r\n \r\n3,884,157 58 \r\n \r\n3 \r\n \r\n000 \r\n \r\nTotal \r\n \r\n$A.II4.279.02 \r\n \r\nCATEGORIZATION OF INVESTMENTS At June 30, 2002, the fair value of the School Dlstnct's total mvcstments was $61 10 and thiS entIre amount consisted ofcommon stock which was Insured or registered, or secuntIcs held by the School Dlstnct or the School Dlstnct's agent m the School Dlstnct's name \r\n \r\nNote 3 NON-MONETARY TRANSACTIONS \r\n \r\nThe School Dlstnct receIves food commodItIes from the Umted States Department of Agnculture (USDA) for school breakfast and lunch programs These commoditIes arc recorded at their Federally assIgned value See Note I -Inventories \r\n \r\nNote 4 RISK MANAGEMENT \r\n \r\nThe School Dlstnct IS exposed to vanous nsks of loss related to torts, theft of, damage to, and destructIOn of assets, errors or omiSSIons, Job related Illness or mJunes to employees, acts of God, unemployment compensatIOn, and dental claims \r\n \r\nThe School Dlstnct has obtamed commercIal msurance for nsk of loss asSOCiated With torts, assets, errors or omISSIons and Job related Illness or mJunes to employees The School Dlstnct has neither SignIficantly reduced coverage for thcse nsks nor mcurred losses (settlements) whIch exceeded the School Dlstnct's msurance coverage In any of the past three years \r\n \r\nThe School Dlstnct has elected to self-msure for all losses related to acts of God The School Dlstnct has not expenenced any losses related to thiS nsk m the past three years \r\n \r\n- 17 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION TOOMBS COUNTY EXHIBIT \"F\" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATI:MENTS \r\nJUNE 30, 2002 \r\n \r\nNote 4 RISK MANAGEMENT \r\n \r\nThe School Dlstnct IS self-msured wIth regard to unemployment compensatIOn claIms The School Dlstnct accounts for claims wlthm the same fund that the employee's salary and benefits were paid Claims are accounted for wIth expendIture and liability bemg reported when It IS probable that a loss has occurred, and the amount of that loss can be reasonably estImated \r\n \r\nChanges m the unemployment compensation claIms liabIlity durmg the last two fiscal years are as follows \r\n \r\nBegmnmg of Year LIabIlity \r\n \r\nClaIms and Changes m E,l1mates \r\n \r\nClaIms Paid \r\n \r\nEnd of Year LiabIlity \r\n \r\n2001 2002 \r\n \r\nS \r\n \r\n000 S 2,46600 $ \r\n \r\n000 $ \r\n \r\n2,46600 \r\n \r\n$ \r\n \r\n2,46600 $ \r\n \r\n5,113 25 $ \r\n \r\n2,78500 $ \r\n \r\n4,79425 \r\n \r\nThe School Dlstnct IS selfmsured WIth regard to employee and dependent dental claIms This program IS funded through a combmatlOn of employer and employee contnbutlons Changes m dental claims lIablhty dunng the last two fiscal years are as follows \r\n \r\nBegmnmg of Year LIabIlity \r\n \r\nClaIms and Changes m Esl1mate, \r\n \r\nClaIms Paid \r\n \r\nEnd of Year LIabIlIty \r\n \r\n2001 2002 \r\n \r\n$ \r\n \r\n000 S 111.75549 $ 111.755 49 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n000 $ 110,797 88 $ 110,79788 $ \r\n \r\n000 \r\n \r\nThe School Dlstnct has purchased surety bonds to proVide addItional msurance covcmge as follows \r\n \r\nPosItIOn Covered \r\n \r\nAmount \r\n \r\nSupenntendent Board Treasurer Board VIceTreasurer All Employees \r\n \r\nS 50,00000 S 50,00000 $ 50,00000 \r\n$ 100,00000 \r\n \r\nNote 5 GENERAL LONG-TERM DEBT \r\n \r\nGENERAL OBLIGAnON DEBT OVTSTANDING General OblIgatIOn Bonds currently outstandmg are as follows, \r\n \r\nPurpose \r\n \r\nInterest Rates \r\n \r\nAmount \r\n \r\nGeneral Government - Senes 1995 \r\n \r\n420% - 5 75% $ 2,980,000,00- \r\n \r\n- 18 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"F\" NOTES TO [HE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2002 \r\n \r\nNote 5 GENERAL LONG-TERM DEBT \r\n \r\nThe changes m General Long-Tenn Debt dunng the fiscal year ended June 30, 2002, were as follows: \r\n \r\nGeneral ObligatIOn \r\nBonds \r\n \r\nBalance July 1,2001 \r\n \r\n$ 3,215,000 00 \r\n \r\nDeductIOns Debt Retlred \r\n \r\n235,00000 \r\n \r\nBalance June 30, 2002 \r\n \r\n$.2.980 000,00 \r\n \r\nAt June 30, 2002, payments due by fiscal year whIch mcludes pnnclpal and mterest for these Items are as follows \r\n \r\nFIscal Year Ended June 30 \r\n \r\nGeneral ObligatIOn \r\nBonds \r\n \r\n2003 2004 2005 2006 2007 2008 - 2010 \r\n \r\n$ 427,15000 448,767,50 468,31750 475,73000 481,47000 \r\n1.490,255 00 \r\n \r\nTotal Pnnclpal and Intcrest \r\n \r\n$~791 690,00 \r\n \r\nNote 6 ON-BEHALF PAYMENTS \r\n \r\nThe School Dlstnct has recognIzed revenues and expendllures m the amount of $166,276 72 for health msurance and retlrement eontnbutlOns paid on the School Dlstnct's behalf by the followmg State AgenCies \r\n \r\nGeorgia Department of Education PaId to the GeorgIa Department ofCommuruty Health For Health Insurance ofNon-Certified Personnel In the amount of $ I 46,706 72 \r\n \r\n- 19 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"F\" \r\nNOTES TO THE GENERAL-PURPOSE FINANCIAL S1ATEMENTS \r\nJUNE 30, 2002 \r\n \r\nNote 6 ON-BEHALF PAYMENTS \r\n \r\nOffice of Treasury and Fiscal SeTVIces Paid to the Public School Employces RetIrement System For Public School Employees Retlrement (PSERS) Employcr's Cost In the amount of $19,57000 \r\n \r\nNote 7 SIGNIFICANT COMMITMENTS \r\n \r\nThe follOWing IS an analySIS ofslgmficant outstanding constructIOn or renovatIOn contracts executed by the School Dlstnct as of June 30, 2002, together With funding available \r\n \r\nProJcct \r\n \r\nUncarned Executed Contracts \r\n \r\nFunding AVailable From State \r\n \r\nJ R. Tnppe Middle School Sanitary Sewer ExtenSion \r\nSAOIS-793-086 and SAOIS-793-088 Vidalia High School - \r\nTralmng and Recreatlonal Facllitles \r\n \r\n$ 14,872 00 159,89600 $ 197,16900 \r\n5,56806 \r\n \r\n$ 180,336,06 $ 197 169..Q.Q \r\n \r\nThe amounts descnbed In thiS note are not reflected In the general-purpose finanCial statements \r\n \r\nNote 8 CONTINGENT LIABILITIES \r\n \r\nAmounts received or receivable pnnclpally from the Fe{\\eral government are subject to audit and revlcw by grantor agencies This could result In requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms The School Dlstnct believes that such disallowances, If any, will be Immatenal to ItS overall finanCial pOSitIOn \r\n \r\nThe School Dlstnct IS a defendant In vanous legal proceedings pertaImng to matters inCIdental to the performance of routine School Dlstnct operations The ultimate dispOSItion of these proceedings IS not presently determinable, but IS not believed to be matenal to the general-purpose finanCial statements \r\n \r\nNote 9 RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\n \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and c1cncal personnel employed by local school dlstncts are covered by the Teachers Retirement System ofGeorgJa (TRS), wluch IS a cost-sharing multiple \r\n \r\n- 20- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"F\" NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2002 \r\n \r\nNote 9 RETIREMENT PLANS \r\n \r\nemployer defined benefit pension plan TRS provIdes servIce retirement, dIsabIlity retlrcment and SUrviVOrs benefits for ItS members m accordance With State statute The Teachers Retirement System of GeorgIa Issues a separate stand alone finanCial auda report and a copy can be obtamed from the GeorgIa Department of Audits and Accounts \r\n \r\nTRS CONTRmUTIONS REQUIRED AND MADE Employees of the School Dlstnct who are covered by TRS are reqUired by State statute to contnbute 5% of their gross earnmgs to TRS The School Dlstnct makes monthly employer contnbutlOns to TRS at rates adopted by the TRS Board of Trustees m accordance With State statute and as adVIsed by their mdependent actuary The reqUired employer contnbutlOn rate IS 9 24% and employer contnbutlons for the current fiscal year and the precedmg two fiscal years are as follows \r\n \r\nFiscal Year \r\n \r\nPercentage Contnbuted \r\n \r\nReqUired ContnbutlOn \r\n \r\n2002 2001 2000 \r\n \r\n100% 100% 100% \r\n \r\n$ 871,43356 $ 1,031,072 93 $ 1,017,78853 \r\n \r\n- 21 - \r\n \r\n CITY OF VIPALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 2002 \r\n \r\nASSETS \r\nCash and Cash Equivalents \r\nInvestments \r\nAccounts ReceIVable \r\nInventones Food Donated Commodrtles Purchased Food \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTIERY PROGRAMS \r\n \r\n$ \r\n \r\n187,41151 \r\n \r\n46,588 89 \r\n \r\n$ \r\n \r\n47,43216 \r\n \r\n20,756 24 3,95545 \r\n \r\nTotal Assels \r\n \r\n$ \r\n \r\n258,712 09 $==_4~7~4,;,:3;:;2;,,;1;,;;6;, \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salanes Peyable Expired Grant Balances Payable Deferred Revenue \r\nTotal LlablhtJes \r\nFUND EQUITY \r\nFund Balances Reserved For Inventones Food Donated Commodities Purchased Food Unreserved Undeslgnated \r\nTotal Fund Equity \r\nTotal LlablhtJes and Fund Equrty \r\nSee notes to the general-purpose finanCIal statements \r\n- 22- \r\n \r\nS \r\n \r\n47,43216 \r\n \r\n$ \r\n \r\n6,581 82 \r\n \r\n24,89979 \r\n \r\n$ \r\n \r\n31 ,48161 $ \r\n \r\n47,43216 \r\n \r\nS \r\n \r\n20,75624 \r\n \r\n3,95545 \r\n \r\n202,51879 $ \r\n \r\nS \r\n \r\n227,23048 $ \r\n \r\n000 000 \r\n \r\ns \r\n \r\n258,712 09 S==_-;:;47:\"1,;:4~32~16~ \r\n \r\n EXHIBIT \"G\" \r\n \r\nFEDERAL \r\nPROGRAMS \r\n \r\nTOTALS \r\n \r\nJUNE 30, 2002 \r\n \r\nJUNE 30, 2001 \r\n \r\n$ \r\n \r\n187,411 51 $ \r\n \r\n176,92792 \r\n \r\n46,58889 \r\n \r\n45,000 00 \r\n \r\n$ \r\n \r\n199,30988 \r\n \r\n246,74204 \r\n \r\n450,13996 \r\n \r\n20,756 24 3,95545 \r\n \r\n15,05651 3,794 40 \r\n \r\n$ \r\n \r\n505,454 13 $ ~~6::.:90:::.::,9~18~7.:.;9:.. \r\n \r\n$ \r\n \r\n70,34106 $ \r\n \r\n117,77322 $ \r\n \r\n334,35808 \r\n \r\n24,091 23 \r\n \r\n30,67305 \r\n \r\n25,57411 \r\n \r\n100,23801 \r\n \r\n125,13780 \r\n \r\n103,16887 \r\n \r\n2,02298 \r\n \r\n4,63958 \r\n \r\n4,63958 \r\n \r\n10,93803 \r\n \r\n$ \r\n \r\n199,30988 $ \r\n \r\n278,22365 $ \r\n \r\n476,06207 \r\n \r\n$ \r\n \r\n20,756 24 $ \r\n \r\n15,056 51 \r\n \r\n3,95545 \r\n \r\n3,794 40 \r\n \r\n$ \r\n \r\n----'0'-'0\"'0'- \r\n \r\n202,51879 \r\n \r\n196,00581 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n227,23048 $ _----'2,.,1.::.4,\"'8\"'56\u003c...7'-'2'- \r\n \r\n$ \r\n \r\n199,30988 $ \r\n \r\n505,454 13 $ ~-.,;6~90=,9,;,;18;;\"7:,,;9;,, \r\n \r\n- 23- \r\n \r\n CITY OF VIDALIA BOARD OF EPUCATION - TOOMBS COUNTY COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BAlANCES \r\nSPECIAL REVENUE FUND YEAR ENDED JUNE 30, 2002 \r\n \r\nREVENUES \r\nState Funds Federal Funds Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruchon Support Services Pupil Services Improvement of Instructional Services General Admlmstratoon School AdminIstration Student TransportatIOn Services Central Support SeMces Food Services OperatIon \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nFUND BAlANCE JULY 1 \r\nFood Inventory - Net Change In Penod Donated Commodities Purchased Food \r\nFUND BALANCE JUNE 30 \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTIERY PROGRAMS \r\n \r\n$ \r\n \r\n64,40200 $ \r\n \r\n588,22027 \r\n \r\n248,07396 \r\n \r\n$ \r\n \r\n900,69623 $ \r\n \r\n63,86899 63,868 99 \r\n \r\n$ \r\n \r\n63,86899 \r\n \r\n$ \r\n \r\n894,18325 \r\n \r\n$ \r\n \r\n894,18325 S \r\n \r\n$ \r\n \r\n6,51298 $ \r\n \r\n214,856 72 \r\n \r\n5,69973 161 05 \r\n \r\n63,86899 000 000 \r\n \r\n$ \r\n \r\n227,23048 $ _ _~_ _O_OO_ \r\n \r\nSee notes to the general-purpose financial statements - 24 \r\n \r\n EXHIBIT\"H\" \r\n \r\nFEDERAL PROGRAMS \r\n \r\nTOTALS \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2002 \r\n \r\nJUNE 30, 2001 \r\n \r\n$ \r\n \r\n128,27099 $ \r\n \r\n117,57000 \r\n \r\n$ 1,324,177 32 \r\n \r\n1,912,39759 \r\n \r\n1,633,92821 \r\n \r\n248,07396 \r\n \r\n238,27573 \r\n \r\n$ 1,324,177 32 $ 2,288,74254 $ 1,989,77394 \r\n \r\n$ \r\n \r\n951,44161 $ 1,015,31060 $ \r\n \r\n803,55780 \r\n \r\n39,39519 216,31396 \r\n64,19786 \r\n51,90570 92300 \r\n \r\n39,39519 216,31396 \r\n64,19786 \r\n51,90570 92300 \r\n894,18325 \r\n \r\n12,472 38 207,37623 \r\n67,896 22 72 00 \r\n14,93031 \r\n909,14501 \r\n \r\n$ 1,324,177 32 $ 2,282,229 56 $ 2,015,44995 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n6,51298 $ \r\n \r\n-25,67601 \r\n \r\n000 \r\n \r\n214,85672 \r\n \r\n236,35727 \r\n \r\n5,69973 161 05 \r\n \r\n4,177 32 -1 86 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n227,230 48 $ _.....,;2~1~4;;,,8~56=-:,;72;;., \r\n \r\n- 25- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30, 2002 \r\n \r\nASSETS Cash and Cash EqUivalents Accounts ReceNable \r\nTotal Assets \r\nLIABILITIES AND FUND EQUITY LIABILITIES \r\nCash Overdraft Accounts Payable Contracts Payable Relamages Payable \r\nTotal LIabilities FUND EQUITY \r\nFund Balances Reserved For Purposes of Bond Issue For SPLOST Projects Unreserved DefiCIt Undesognated Total Fund Equity \r\nTotal Liabilities and Fund EqUity \r\n \r\nREGULAR \r\n \r\nBOND PROCEEDS \r\n \r\n$ \r\n \r\n62,62551 $ \r\n \r\n17,79541 \r\n \r\n$ \r\n \r\n62,625 51 $ ~=\",1d.7~,7g;95~4~1~ \r\n \r\n$ \r\n \r\n25,37400 \r\n \r\n2,764 00 \r\n \r\n$ \r\n \r\n28,13800 \r\n \r\n$ \r\n \r\n17,79541 \r\n \r\nS \r\n \r\n34,48751 \r\n \r\n000 \r\n \r\n$ \r\n \r\n34,48751 S \r\n \r\n17,79541 \r\n \r\n$ \r\n \r\n62,625 51 $ _ _~1:.:7~?~9~5;;;4~1= \r\n \r\nSee notes to the general-purpose financial statements - 26- \r\n \r\n EXHIBIT \"I\" \r\n \r\nGEORGIA STATE FINANCING AND \r\nINVESTMENT COMMISSION \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nJUNE 30, 2002 \r\n \r\nJUNE 30, 2001 \r\n \r\n$ \r\n \r\n785,74787 S \r\n \r\n866,16879 $ \r\n \r\n934,18172 \r\n \r\nS \r\n \r\n000 \r\n \r\n290,71946 \r\n \r\n290,71946 \r\n \r\n287,58670 \r\n \r\n$ \r\n \r\n000 $ 1,076A67 33 S 1,156,88825 $ \r\n \r\n$ \r\n \r\n7,664 00 \r\n \r\nS \r\n \r\n7,664 00 \r\n \r\n$ \r\n \r\n7,664 00 \r\n \r\n$ \r\n \r\n17980 \r\n \r\n25,37400 \r\n \r\n179,84517 \r\n \r\n2,764 00 \r\n \r\n39,234 85 \r\n \r\n$ \r\n \r\n35,80200 $ \r\n \r\n219,25982 \r\n \r\n$ \r\n \r\n17,79541 $ \r\n \r\n$ 1,076,467 33 \r\n \r\n1,076A6733 \r\n \r\n168,35507 801,06613 \r\n \r\n$ \r\n \r\n-7,664 00 \r\n \r\n000 \r\n \r\n-7,664 00 \r\n \r\n000 \r\n \r\n34,48751 \r\n \r\n33,08740 \r\n \r\n$ \r\n \r\n-7,664 00 $ 1,076A6733 $ 1,121,08625 $ 1,002,508 60 \r\n \r\n$ \r\n \r\n000 $ 1,076A67 33 $ 1,156,88825 $ 1,221,76842 \r\n \r\n- 27- \r\n \r\n  \r\n \r\nT. \r\n \r\nCITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING STATEMENT OF REVENUES. EXPENDITURES ANp CHANGES IN FUND BALANCES \r\nCAPITAL PROJECTS FUND YEAR ENDED JUNE 30. 2002 \r\n \r\nREVENUES State Funds Taxes Other Funds \r\nTotal Revenues \r\nEXPENDITURES Caprtal Outlay Land and Land Improvements BUilding and BUilding Improvements EqUipment Total Expenditures \r\nExcess of Revenues over (under) Expendrtures \r\nOTHER FINANCING SOURCES (USES) Operating Transfers In Operabng Transfers Out Total Other FinanCing Sources (Uses) \r\nExcess of Revenues and Other FinanCIng Sources over (under) Expenditures and Other FinanCIng Uses \r\nFUND BALANCE JULY 1 \r\nFUND BALANCE JUNE 30 \r\n \r\nREGULAR \r\n \r\nBOND PROCEEDS \r\n \r\n$ \r\n \r\n30,000 00 \r\n \r\n$ \r\n \r\n$ \r\n \r\n30,000 00 $ \r\n \r\n000 000 \r\n \r\n$ \r\n \r\n11,03100 $ \r\n \r\n43,99375 \r\n \r\n89,16844 \r\n \r\n89,89730 \r\n \r\n560000 \r\n \r\n$ \r\n \r\n100,199 44 $ \r\n \r\n139,491 05 \r\n \r\n$ \r\n \r\n-70,19944 $ \r\n \r\n-139,491 05 \r\n \r\n$ \r\n \r\n83,22250 $ \r\n \r\n2,9873t \r\n \r\n-11 ,62295 \r\n \r\n-14,05592 \r\n \r\n$ \r\n \r\n71,599 55 $ \r\n \r\n-11 ,068 61 \r\n \r\n$ \r\n \r\n1,400 11 $ \r\n \r\n-150,55966 \r\n \r\n33,08740 \r\n \r\n168,35507 \r\n \r\n$ \r\n \r\n34,487 51 $ ===1,;.;7..,.7;,,;9.5...4;,;1_ \r\n \r\nSee notes to the general-purpose finanCial statements - 28- \r\n \r\n EXHIBIT \"J\" \r\n \r\nGEORGIA STATE FINANCING AND \r\nINVESTMENT COMMISSION \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2002 \r\n \r\nJUNE 30, 2001 \r\n \r\n$ \r\n \r\n30,00000 \r\n \r\n$ \r\n \r\n952,686 08 \r\n \r\n952,68608 $ 1,178,236 16 \r\n \r\n$ \r\n \r\n--!i.0.!!:00~ \r\n \r\n9,06993 \r\n \r\n9,06993 \r\n \r\n22,90361 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n961,75601 $ \r\n \r\n991,75601 $ 1,201,13977 \r\n \r\n$ \r\n \r\n180,33717 $ \r\n \r\n235,36192 $ \r\n \r\n51,96983 \r\n \r\n$ \r\n \r\n7,664 00 \r\n \r\n762,27200 \r\n \r\n949,00174 \r\n \r\n807,690 76 \r\n \r\n16,43720 \r\n \r\n22,03720 \r\n \r\n$ \r\n \r\n7,664 00 $ \r\n \r\n959,04637 $ 1,206,400 86 $ \r\n \r\n859,66059 \r\n \r\n$ \r\n \r\n7,664 00 $ \r\n \r\n2,70964 S \r\n \r\n214,64485 $ \r\n \r\n341,47918 \r\n \r\n$ \r\n \r\n272,69156 $ \r\n \r\n358,901 37 $ \r\n \r\n119,299 41 \r\n \r\n-25,67887 \r\n \r\n-7,36100 \r\n \r\n$ \r\n \r\n272,69156 $ \r\n \r\n333,22250 $ \r\n \r\n111,93841 \r\n \r\n$ \r\n \r\n-7,664 00 $ \r\n \r\n275,401 20 $ \r\n \r\n118,577 65 $ \r\n \r\n453,41759 \r\n \r\n000 \r\n \r\n801,066 13 \r\n \r\n1,002,50860 \r\n \r\n549,091 01 \r\n \r\n$ \r\n \r\n7,664 00 $ 1,076,467 33 $ 1:121,08625 $ 1,002,50860 \r\n \r\n- 29- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING BALANCE SHEET DEBT SERVICE FUND JUNE 3Q 2002 \r\n \r\nEXHIBIT\"K\" \r\n \r\nASSETS Cash and Cash EqUivalents \r\n \r\nPROPERTY TAXES FOR BOND DEBT \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nJUNE 30, 2002 \r\n \r\nJUNE 30, 2001 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n287,731 21 $ \r\n \r\n287,731 21 $ ~_=1~5~,64::;;;:8:.:8;;,:1~ \r\n \r\nFUND EQUITY \r\nFund Balances Reserved For Debl Service Unreserved Undeslgnated \r\n \r\n$ $ _ _---'0\"-'00\"\"- \r\n \r\n287,731 21 $ 000 \r\n \r\n287,731 21 $ 000 \r\n \r\n15,64881 000 \r\n \r\nTotal Fund EqUity $ \r\n \r\n000 $ \r\n \r\n287,731 21 $ \r\n \r\n287:731 21 $=~~15;;,;,64=8,,:;:8.:..1 \r\n \r\nSee notes to the general-purpose financial statements \r\n- 3Q- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCAliON - TOOMBS COUNTY COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES \r\nDEBT SERYICE FUND YEAR ENDED JUNE 30 2002 \r\n \r\nEXHIBIT \"L\" \r\n \r\nPROPERTY TAXES FOR BOND DEBT \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS YEAR ENDED JUNE 30 2002 JUNE 30, 2001 \r\n \r\nREVENUES \r\n \r\nTaxes Other Funds \r\n \r\n$ \r\n \r\n679,84261 $ 679,84261 $ 400,46317 \r\n \r\n$ \r\n \r\n1623 \r\n \r\n1,801 06 \r\n \r\n1,817 29 \r\n \r\n5,04997 \r\n \r\nTotal Revenues \r\n \r\n$ \r\n \r\n1623 $ \r\n \r\n681,64367 $ 681 ,65990 $ 405,513 14 \r\n \r\nEXPENDITURES \r\n \r\nDebt service Pnnclpal Interest Paying Agent Fees \r\n \r\n$ 235,000 00 173,78250 79500 $ \r\n \r\nS \r\n000 \r\n \r\n23500000 $ 17378250 \r\n79500 \r\n \r\n20500000 183,72500 \r\n79500 \r\n \r\nTatal ExpendItures \r\n \r\n$ 409,577 50 $ \r\n \r\n000 $ 409,577 50 $ 389,52000 \r\n \r\nExcess of Revenues over (under) Expendrtures \r\n \r\nS -409,561 27 $ \r\n \r\n681,64367 $ 272,08240 S \r\n \r\n15,99314 \r\n \r\nOTHER FINANCING SOURCES (USES) \r\n \r\nOperating Transfers In Operating Transfers Out \r\n \r\nS 409,561 27 $ \r\n \r\nS \r\n-409,561 27 \r\n \r\n409,561 27 $ -409,561 27 \r\n \r\n38966735 -390,011 6B \r\n \r\nTotal Other FinanCing Sources (Uses) \r\n \r\nS 409,561 27 $ -409,561 27 $ \r\n \r\n000 S \r\n \r\n-344 33 \r\n \r\nExcess of Revenues and Other Fmanclng Sources over (under) ExpendItures and Other Flnanc:lng Uses $ \r\n \r\n000 $ \r\n \r\n272,08240 $ 272 082 40 $ \r\n \r\n1564881 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n000 \r\n \r\n15,64881 \r\n \r\n15,64881 \r\n \r\n000 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\ns \r\n \r\n000 $ \r\n \r\n287731 21 $ \r\n \r\n287:731 21 $ _ _.15.;;;,6;:;4:;;8:.:8~1~ \r\n \r\nSee notes to Ole general-purpose finandal slatements \r\n \r\n- 31 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\nSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED JUNE 30 2002 \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAMIGFIANT \r\nAgr1aJllure. U S Department of Child Nutnnon Cluster Pass-Ttvough From Georgia Department of Education Food and Nutnllon Program Food ServIces School Breakfast Program Natlooal School Lunch Program \r\nTotal Child NutntlOn Cluster \r\nOther Programs Pass-Through From Georgia Department of Eduea1Jon Food and Nutntlon Program FoOd Dlslnbutlon Program (1) Pass-Through From Office of SChool Readiness Food and Nutnbon Program Chlld and Adult Care Food Program \r\nTotal U S Depanmem 01 Agnwtture \r\nEducallon U S Department of Special EducatJon Cluster Pa55-Through From Georgia Department of EducalJon IndiVIduals WIth Dlsab.UlJes Education Ad Part B - Speoal Education Capadty BUilchng Improvement \r\nFlow Through Preschool \r\nTolal Speoal Edl\"lCStion Cluster \r\nOther Programs Pass-Through From GeorgJa Department of EducatJon Comprehensive Sdlool Reform DemonstrabOn Elementary and Secondary Education Ad Tolle I Grants to Local Educational Agendes ntle II EIsenhower ProfeSSIonal Development Title III TecIYlology Lrterocy Challenge Fund Grants Title VI InnovatIve EducatIOn Program Strategies Oas\u0026 Size RedudJon VocalJonal Education - BaSIC Grants to States High Sdlool Program Basic Grant \r\nTolal U S Department of Education \r\n \r\nCFRA NUMBER \r\n \r\nPASSTIiROUGH \r\nENTITY ID \r\nNUMBER \r\n \r\nFEDEFIAL REVENUE IN PERIOD \r\n \r\nEXPENDrnJRES IN PERIOD \r\n \r\n10553 10555 \r\n \r\nNJA $ NJA \r\n$ \r\n \r\n104 489 86 422309 49 $ \r\n526799 35 $ \r\n \r\n(2) 835,39904 (3) \r\n83539904 \r\n \r\n10550 10558 \r\n \r\nNJA \r\nNJA \r\n$ \r\n \r\n58784 21 \r\n2636 71 58822027 $ \r\n \r\n58 784 21 \r\n(2) 894 18325 \r\n \r\n84 027 84 027 84 173 \r\n \r\nNJA $ NJA NJA \r\n$ \r\n \r\n316700 $ 246 986 27 \r\n961800 \r\n259771 27 $ \r\n \r\n316700 246 986 27 \r\n9.61800 \r\n259.771 27 \r\n \r\n84 332 \r\n84 010 84 281 84 318 84298 84340 \r\n84048 \r\n \r\nNJA \r\n \r\n6881700 \r\n \r\n68 817 00 \r\n \r\nNJA \r\n \r\n700,64027 \r\n \r\n700 640 27 \r\n \r\nNJA \r\n \r\n18954 60 \r\n \r\n18.954 60 \r\n \r\nNJA \r\n \r\n12181995 \r\n \r\n12181995 \r\n \r\nNJA \r\n \r\n19.33820 \r\n \r\n1933820 \r\n \r\nNJA \r\n \r\n102,35703 \r\n \r\n10235703 \r\n \r\nNJA \r\n \r\n3247900 \r\n \r\n3247900 \r\n \r\n$ \r\n \r\n1 324177 32 $ \r\n \r\n1,324177 32 \r\n \r\nTotal Federal Rnanoal Assistance NJA ::z Not Avai!able \r\n \r\n$ \r\n \r\n1 912,39759 $ \r\n \r\n2,21836057 \r\n \r\n- 32- \r\n \r\n CITY OF YJDALIA BOARD OF EDUCATION - TQQMBS COUNTY SCHEDULE OF EXPENDITURES OF FEOERAL AWARDS YEAR ENDED JUNE 30 2002 \r\n \r\nSCHEDULE .,. \r\n \r\nNotes to the SChedule of Expenditures of Federal Awards \r\n(1) The amounts shown for the Food Dtstnbutlon Program represents the Federally aSSIgned value of norvnonetary assIStance for donated commochbes recetved and/or consumed by the system dunng the rorrent fiscal year \r\n(2) ExpendItures tor the Child and Adu\" Care Food Program and the Sdlool Breakfast Program were not maintained \r\nseparately and are IndOOed In the 2002 NaUonal SdlooI Lunch Program (3) Expenlht..... for U.s program Include State. and/or Other Funds \r\nExpendrtUllS are not mamtallled by fund SOIA'ce \r\nMajOf Programs are identified by an asterisk (') In front of the CFDA number \r\nThe School D1str1ct did not provide Federal AssIstance to any SubrooPlent \r\nThe accompanying schedule of expenditures of Federal awards indudes the Federal grant activity of the City of VIdalia Board of Educabon and 1$ presented on the mocIlfl8d acaual basis of accounting whlch IS the basis of aCCOUlbng used U1 the presentation of the general-purpose finandal statements \r\n \r\nSee notes to the general-purpose flJl3J1oal statements \r\n \r\n- 33 - \r\n \r\n CITY OF VIDALIA BOARp OF EDUCATION - TOOMBS COUNTY SCHEPUlE OF STATE REyENUE YEAR ENDED JUNE 30 2002 \r\n \r\nSCHEDULE \"2\" \r\n \r\nAGENCY/FUNDING \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\nGRANTS Commumty Affairs Georgia Department of Local Aulstance Grant \r\n \r\n$ 3000000 S \r\n \r\n30,000 00 \r\n \r\nEducalJon Georgia Department of \r\n \r\nQuality BaSIC Education \r\n \r\nDIrect Instrucoonal Cost \r\n \r\nKmdergarten Program \r\n \r\n$ 489,701 00 \r\n \r\nKindergarten Program - Ear1y InterventJon Program \r\n \r\n179,582 00 \r\n \r\nPrimary Grades (1-3) Program \r\n \r\n1 218,04000 \r\n \r\nPnmary Grades - Earty lnterventlon (13) Program \r\n \r\n439,391 00 \r\n \r\nUpper Elementary Grades (4-5) Program \r\n \r\n69557100 \r\n \r\nUpper Elementary Grades - \r\n \r\nEarty Interventlon (4-5) Program \r\n \r\n154 587 00 \r\n \r\nMiddle School (6-8) Program \r\n \r\n1,396 789 00 \r\n \r\nHigh School Gen8fll1 Educabon (9-12) Program \r\n \r\n1,23305100 \r\n \r\nVocabonal Laboratory (9-12) Program \r\n \r\n417.76800 \r\n \r\nStudents WIth Dlsablbtles \r\n \r\nCategory I \r\n \r\n4564600 \r\n \r\nCategory II Category III \r\n \r\n208134 00 50876300 \r\n \r\nCategory IV \r\n \r\n100954 00 \r\n \r\nGifted Student - Category VI \r\n \r\n58,58800 \r\n \r\nRemedial Educahon Progflillm \r\n \r\n39,38200 \r\n \r\nA1lemauve Educabon Program \r\n20 Days. Addloona\\ InstruC\\K)n \r\n \r\n109,14400 7265300 \r\n \r\nMedia Center Program \r\n \r\n22482400 \r\n \r\nStaff and ProfessIOnal DevelOpment \r\n \r\n38,96800 \r\n \r\nIndirect Cost \r\n \r\n1,47301800 \r\n \r\nCategoncal Grants \r\n \r\nPUp'l Tran~portabOn \r\n \r\nRegular \r\n \r\n'57,25200 \r\n \r\nBus Reptaeement \r\n \r\n3679700 \r\n \r\nSpan;rty GllInt \r\n \r\n20,00000 \r\n \r\nNUfSlng ServiceS \r\n \r\n60 859 00 \r\n \r\nPnnCl.pal Supplemenm \r\n \r\n9,17600 \r\n \r\nVocatronal Supervlsors \r\n \r\n1516200 \r\n \r\nMigrant Education \r\n \r\n79500 \r\n \r\nMid-term AdJUstment Hold-Harmless \r\n \r\n24768300 \r\n \r\nDeferred Summer Salanes (Current Year) \r\n \r\n1 304,49200 \r\n \r\nEducauon Equalization Funding Grant \r\n \r\n85916500 \r\n \r\nFood SeMCe5 \r\n \r\n$ 6440200 \r\n \r\nVocabonal Educebon \r\n \r\n1078500 \r\n \r\nOther State Programs \r\n \r\nHealth Insurance \r\n \r\n14670672 \r\n \r\nMentor Teachers PMt Secondary Optrons \r\n \r\n196900 39600 \r\n \r\nPreschool Handlcspped Program \r\n \r\n3666800 \r\n \r\nStatewide After SChool (4 8) Program Slatewtde Readmg (K-3) Program \r\n \r\n2255280 26,78308 \r\n \r\nLottery Progl1illm, \r\n \r\nAaSla11V8 Technology Computel1J 10 the Classroom \r\n \r\n506900 58799 99 \r\n \r\n489701 00 17958200 1 21804000 43939100 69557100 \r\n.54 58700 1 396 78e 00 1,23305100 \r\n417,768 00 \r\n4564600 208134 00 SOB 763 00 100954 00 \r\n5858800 3938200 109,14400 1265300 22482400 3896600 1 47301800 \r\n157,25200 3679700 20000 00 60,85900 9 17600 1516200 79500 \r\n24768300 1 304 492 00 \r\n85916500 6440200 1078500 \r\n146706 72 1 98900 396 00 \r\n3666800 2255280 2678308 \r\n506900 5879999 \r\n \r\nGeorgia CoUnCIl tor the Arts Georgaa Challenge \r\n \r\n210348 \r\n \r\n2,10348 \r\n \r\nOffice of the Governor Children and youth Coordlnatlng Caunal OASIS Grant \r\n \r\n60339 \r\n \r\n60339 \r\n \r\n34 \r\n \r\n CITY OF Y1pALLA. BOARD OF EDUCATION - TOOMBS CQUNTY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30 2002 \r\n \r\nSCHEDULE \"2'\" \r\n \r\nAGENCY/FUNQING \r\nGRANTS \r\nOffice ot Treasury and Fiscal SeMCes \r\nPublIC SChool Employees Rebrement \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ _--,'\",9,-=,5,-,70,-0\",0,-- \r\n \r\n$ _ _-,',,9.::5.'-70,,-,,00,,- \r\n \r\nS 12 186 092 47 S 12827099 S 30000 00 S 12244 36346 \r\n \r\nSee notes to the genetllll-purpose finanCIal statements \r\n \r\n35 \r\n \r\n CITY OF \"'PAllA BOARD OF EDUCATION TOOMBS COUNTY SCHEPULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nyEAR ENDED JUNE 30 2002 \r\n \r\nSCHEDULE \"3\" \r\n \r\nPROJECT \r\nRetirement of the School DlStrlct', City of VtdaU3 General ObligatIOn Bonds Senes 1995 In the maximum amount of S4 276,602 60 \r\nDevelopment of tramtng and reaeallonal f8Cllllles at Vidalia High School In the maximum amount of $ 1 006 739 60 \r\nRenovatIOn of J D DlCkeraon School and Sally Meadows School In the maximum amount of $640 15781 \r\neon,trucbOn of soence and technology \r\nlaboratones at Vidalia High SChool m the \r\nmaximum amount of $500 000 00 \r\nConstruchon of JOint football stadium with Toombs County Board of EducatIOn In the maXImum amooot of $1,000 000 00 \r\n \r\nORIGINAL ESTIMATED \r\nCOST (1) \r\n \r\nCURRENT ESTIMATED COSTS (2) \r\n \r\nAMOUNT EXPENDED IN CURRENT \r\nYEAR (3) \r\n \r\nAMOUNT EXPENDED \r\nIN PRIOR YEARS (3) \r\n \r\nPROJECT STATUS \r\n \r\n$ 4,276,60260 $ 4 27660260 S 409577 50 $ 389,52000 Ol1QOlng \r\n \r\n1 006 739 60 128529916 \r\n \r\n86902191 \r\n \r\n410 709 25 Ongoing \r\n \r\n64015781 \r\n \r\n812405 86 \r\n \r\n9002446 \r\n \r\n357 38 1 40 Ongoing \r\n \r\nSOD 000 00 \r\n \r\n77672300 \r\n \r\nOngoing \r\n \r\n1000 000 00 \r\n \r\n1000,000 00 \r\n \r\nOngomg \r\n \r\n$ 7,42350001 $ 81'51 13062 $ 11368 162387 $ 11157161065 \r\n(1) The School DlStnc:!'s ongmal cosl e5tJmate as Specified In the resoluhon caULng for the Impo5Jtlon of the Local Opbon Sales Tax \r\n(2) The School DI,lnct, currant estrmate of total cost for tha prtlf8CtS Includes all cost from project mceptlon to comP'euon (3) The voters of Toombs County approved the Imposrtlon of a 1% sales tax to fund the above projects \r\nAmounts expended for these pr~ may If\\dude sales tax proceeds, slate local property taxes end/or othBl'\" funds over the IIfa of the projects \r\n \r\nSee note, to the general-purpose finanaal statements \r\n \r\n- 37 - \r\n \r\n .~--..,.---;_~~r:-r- ~.---~~------------ \r\n \r\nCITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY GENERAL FUND aUALITY BASIC EDUCATION PRQGRAM raBEI \r\nALLOTMENTS AND EXPENDITURES - BY PROGRAM YEAR ENDED JUNE 30 2002 \r\n \r\nSCHEDULE 4- \r\n \r\nDESCRIPTION \r\nDnect Instructlonal Programs Kindergarten Program Kindergarten Program-Early IntervenlJon Program Pnmary Grades (1-3) Program Prunary Grades-Earty Inlervenllon (1-3) Program Upper Elementary Grades (4-5) Program Upper Elementary Grades-Ear1y Intervention (4-5) Program Moddle Sellool (6-8) Program Hlgh Selleel General Educahon (9-12) Program Vocatronallaboratory (912) Program Students WIth Dtsablbhes category I Category II Category III Categery IV Gifted SluClElnt  Category VI Remedial Educahon Program AJtemalJve Education Program \r\nTOTAL DIRECT INSTRUCTIONAL PROGRAMS \r\nMedia Center Program Staff and ProfessIOnal Development \r\n \r\nALLOTMENTS FROM GEORGIA DEPARTMENT OF \r\nEDUCATION (1) \r\n \r\nELIGIBLE aBE PROGRAM COSTS \r\n \r\nSALARIES \r\n \r\nOPERATIONS \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n5'1298900 $ 55585570 $ \r\n \r\n211 16 S \r\n \r\n600.066 56 \r\n \r\n19912400 \r\n \r\n15'1.54003 \r\n \r\n2.92853 \r\n \r\n151468 56 \r\n \r\n1.350 58-4 00 1.,.233374 \r\n \r\n1.32095 \r\n \r\n1 286,654 69 \r\n \r\n487.20500 \r\n \r\n48852203 \r\n \r\n1033072 \r\n \r\n49885275 \r\n \r\n771.26100 \r\n \r\n861,133 \r\n \r\n82,531 05 \r\n \r\n943 B6-4 49 \r\n \r\n171 ..0900 1 5'18 7Bo1 00 1 367.22900 \r\n46322800 957460 00 \r\nBoI.964 00 43,66700 121,021 00 \r\n \r\n12989342 1 67889759 151583977 \r\n49772426 \r\n100,82243 247,11053 327 BoI8 81 \r\n78301 78 117,06185 67 17692 16729944 \r\n \r\n448501 9534237 136 570 53 4993223 \r\n2.17180 9134 95 1658051 281068 1 154 14 \r\n241 40 286345 \r\n \r\n134 37843 1,774.23996 1.65241030 \r\n547.656 49 \r\n10299423 256 245 48 344\"2932 \r\n81 11246 11821599 6741832 17016289 \r\n \r\n$ \r\n \r\n8088,92500 $ 8130 361 74 S 60560948 $ 8.735971 22 \r\n \r\n24928900 4320800 \r\n \r\n31033505 25,511 34 \r\n \r\n72 435 90 17,877 52 \r\n \r\n38277095 43.38886 \r\n \r\nTOTAL aBE FORMULA FUNDS \r\n \r\n$ \r\n \r\n8381,42200 $ 846620813 S 69592290 $ 916213103 \r\n \r\n(1) Compnsed of State Funds plus loal! Five Mill Share \r\n \r\nSee nates to the genera,\"puq:lose flnanclat statements \r\n \r\n38 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY GENERAL FUND - QUALITY BASIC EDUCATION PROGRAM (QBEl \r\nALLOTMENTS AND EXPENDITURES - BY SITE YEAR ENDED JUNE 30 2002 \r\n \r\nSCHEDULE \"5\" \r\n \r\nJ R Tnppe Middle School Vidalia Comprehensive High School J D Dickerson Pnmary School Sally Dalley Meadows Elementary School Allematlve School Program Central Office (Anernafive Educefion Program) \r\nTOTAL \r\n(1) Compnsed of State Funds plus Local Five Mill Share \r\n \r\nALLOTMENTS FROM GEORGIA DEPARTMENT OF EDUCATION (1) \r\n \r\nELIGIBLE aBE PROGRAM COSTS \r\n \r\n$ \r\n \r\n1,821,11500 $ \r\n \r\n2,086,837 98 \r\n \r\n2,214,13900 \r\n \r\n2,631 ,498 71 \r\n \r\n2,081,26700 \r\n \r\n2,047,90808 \r\n \r\n1,851,38300 \r\n \r\n1,916,13001 \r\n \r\n53,596 44 \r\n \r\n121,02100 \r\n \r\n$ \r\n \r\n8,088,925oo $ ==8,.7.3;;;5;;,;,9;,;,7,,;,1,;;22;;, \r\n \r\nSee notes to the general-purpose finanCial statements 39 \r\n \r\n SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS \r\n \r\n RI''-~H I W. IIINT()~ \r\n51....l!:: AUOITOH \r\n1_1,.t.l)5F.' ~\\ \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n2';4 W.I1:\u003ehmglon 'itrccl S W l;)ullC 214 \r\nAtl,In'''', (,wrg',1 30114-H41~1 \r\nApnl II, 2003 \r\n \r\nHonorable Sonny Perdue. Governor Members of the General Assembly Members of the State Board of Education \r\nand Supenntendent and Members of the City ofVldaha Board of Education \r\nREPORT ON COMPLLA.NCE AND ON INTERNAL CO'\\lTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadles and Gentlemen \r\nWe have audIted the finanCIal statements ofCtty ofVldaha Board of EducatIOn as of and forthe year endcd June 30, 2002, and have Issued our report thereon dated Apnl II. 2003 ThIS report \\\\ as qualIfied for vanous departures from generally acecpted accountmg pnnclplcs, as Identified m the auditor's report on the general-purpose financIal statements We conducted our audit m accordance wIth audltmg standards generally accepted m thc United States of Amcnea and the standards apphcable to financIal audits eontamed m Government Audltmg Standards, Issued by the Comptroller General of the Umted States \r\nComphance \r\nAs part of obtaIning reasonable assurance about whether CIty of VIdalIa Board of Education's finanCIal statements are free of matenal misstatement, we performed tests of liS complIance with eertam provIsIons oflaws, regulatIOns, contracts and grants, noncomplIance with which could have a direct and matenal effect on the determmatlon of financIal statement amounts Howevcr. provldmg an opmlOn on complIance with those proVISIOns was not an objective of our audit. and accordmgly. we do not express such an opInion The results of our tests disclosed no mstances ofnoneomplIanec that arc rcqulred to be reported under Government Audltmg Standards \r\nInternal Control Over Fmanelal Reportmg \r\nIn planning and performmg our audIt, we conSIdered Clly of VidalIa Board of EducatIOn's mternal control over finanCIal reportmg m order to determme our auditing procedures for the purpose of expressmg our opmlon on the finanCial statements and not to proVide assurance on the mternal \r\n2002YB-40 \r\n \r\n control over financial reportmg However, we noted certam matters mvolvmg the mternal control over financial reportmg and Its operation that we consider to be reportable conditIOns Reportable condlhons mvolve matters commg to our attenhon relatmg to slgruficant defiCienCies In the design or operahon ofthe mternal control over financial reportmg that, In ourJudgment, could adversely affect City ofVIdaha Board of EducatIOn's abIlzty to record, process, summanze and report financial data consistent With assertions of management m the financial statements Reportable conditIOns are descnbed m the aceompanymg Schedule ofFmdmgs and Queshoned Costs as Items FS-793 1-02-01 and FS-7931-02-02 \r\nA matenal weakness IS a condlhon m which the deSign or operahon of one or more of the mternal control components does not reduce to a relahvely low level the nsk that misstatements In amounts that would be matenal m relahon to the financial statements bemg audited may occur and not be detected wlthm a hmely penod by employees m the normal course of performmg their assigned funchons. Our conslderahon of the mternal control over financial reporting would not necessanly disclose all matters m the mternal control that might be reportable eondillons and, accordmgly, would not necessanly disclose all reportable condillons that are also considered to be matenal weaknesses However, ofthe reportable conditions descnbed above, we consider Item FS-793 1-0202 to be a matenal weakness \r\nThis report IS mtended solely for the mformahon and use of the management, members ofthe City of Vldaha Board of Educahon, Federal awardmg agencies and pass-through entlhes and IS not mtcnded to be and should not be used by anyone other than these specified partiCS. \r\nRespectfully submitted, \r\n-- uJ~ \r\nRu sell W Hmton State Auditor \r\nRWH as 2002YB-40 \r\n \r\n RV'~~II W. HI/dON \r\nS TATr AlICI J('fI \r\nI4:;'\" i (!..E) ,~ \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n25-1- WJ... hmgllln ~lrCCI ~ W ~Ulh: 214 AII.ml.l, GcnrglJ 1()ll4-~()O \r\nApnl II, 2003 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly Mcmbers of the State Board of EducatIOn \r\nand Supenntendent and Members ofthc CIty ofVldaha Board of EducatIon \r\nREPORT ON COMPLIANCE WITH REOUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 \r\nLadles and Gentlemen \r\nComphancc \r\nWe have audited thc comphance of City ofVldaha Board ofEducatIOn with the types ofcomphance requlrcmcnts dcscnbed In the US Office of Management and Budgct (OMB) Circular A-133 Compliance Supplement that are apphcablc to each of liS major Federal programs for the year ended June 30, 2002 City of Vldaha Board of EducatIon's major Federal program IS Idcntlfied In the Summary of Auditor's Results SectIOn of the accompanymg Schedulc of FIndIngs and Qucslloncd Costs Comphance WIth the requlremcnts oflaws, regulatIOns, contracts and grants applicable to Its major Federal program IS thc responslblhty of City of VIdalia Board of EducatIon's management Our responsibilIty IS to express an opInIOn on CIty ofVldaha Board ofEducatIOn's complIance based on our audit \r\nWe conducted our audit of comphance In accordance with auditIng standards gencrally acccpted In the Umtcd States of Amenca, the standards apphcable to financial audIts contaIncd In Governmcnt AudItIng Standards, Issued by thc Comptrollcr Gcneral of the Umted States, and OMB Circular A133, Audas of States, Local Governments, and NOll-Profit Orgam::atlOlls Those standards and OMB CIrcular A-133 require that we plan and perform thc audit to obtam reasonable assurancc about whether noncomplIance With the types ofcomphancc reqUIrements referred to abovc that could have a direct and matenal effect on a major Fedcral program occurred An ,lUdlt Includes cxamInIng, on a test baSIS. eVidence about the City of Vldaha Board of Educallon's comphancc With those rcqUlremcnts and performIng such othcr procedures as we conSIdered neccssary In thc cIrcumstances Wc beheve that our audit proVides a reasonable baSIS for our opinIOn Our audit docs not proVide a legal determInatIon on City of VIdalIa Board of Education's comphance wltlI those requm:ments \r\n2002SA-IO \r\n \r\n In our opmlon, the City of VIdaha Board of EducatIOn complIed, m all matenal respccts, WIth the reqUirements referred to above that are applIcable to Its major Fcderal program for the year ended June 30, 2002 \r\nInternal Control Over ComplIance \r\nThe management of City of VidalIa Board of EducatIOn IS responsible for establIshmg and mamtammg effectIve mternal control over complIance With reqUirements of laws, regulatIOns, contracts and grants applIcable to Federal programs In plannmg and performmg our audIt, we conSIdered CIty of VidalIa Board of EducatIOn's mternal control over comphance wIth reqUirements that could have a direct and matenal cffect on a major Federal program m order to determme our audltmg procedures for the purpose of expressmg our opmlon on comphance and to test and rcport on mternal control over complIancc m accordance With OMB CIrcular A-133 \r\nOur consldcratIon of the mternal control over complIance would not nece~sanly disclose all matters m the mternal control that mIght be matenal weaknesses A matenal wcakness IS a conditIon m whIch the deSign or operatIon of one or more ofthe mternal control components does not reducc to a relatIvely low level of nsk that noncomphance WIth applIcable reqUirements of laws, regulatIOns, contracts and grants that would bc matenal m relation to a major Federal program bcmg audited may occur and not be detected wlthm a tImcly penod by employecs m the normal course of performmg their asSIgned functions We noted no matters mvolvmg the mternal control over complIance and ItS operatIon that we conSIder to be matenal weaknesses \r\nThis report IS mtended solely for the mformatIon and use of the management. members ofthe City of VidalIa Board ofEducatIon, Federal awardmg agencies and pass-through entities and IS not mtended to be and should not be used by anyone other than these speCified parties \r\nRespectfully submItted, \r\n \r\nRWH as 2002SA-lO \r\n \r\nRu ell W Hmton State AudItor \r\n \r\n SECTION III AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS Ai'lL\u003e QUESTIONED COSTS YEAR ENDED JUNE 30, 2002 \r\n \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND mJESnONED CQSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\nFS-793 1-00-0 I FS-7931-01-01 FS-7931-01-02 \r\n \r\nFurther ActIon Not Warranted Unresolved - See CorrectIve ActlOnlResponses Unresolved - See Corrective ActIon/Responses \r\n \r\nCORRECTIVE ACTIONIRESPONSES \r\n \r\nCASH AND CASH EQUIVALENTS Inadequate SeparatIon of DutIes Fmdmg Control Number FS-7931-0 1-0 I \r\n \r\nThe City of VidalIa Board of EducatIon WIll establIsh a receIpt log to be mamtamed by the Qffice Manager and WIll have another party revIew and SIgn offon bank reconcIlIatIons m order to resolve thIS findmg \r\n \r\nGENERAL FIXED ASSETS Failure to Mamtam General Fixed Assets Account Group Fmdmg Control Number FS-7931-0 1-02 \r\n \r\nThe City of VIdalIa Board of EducatIon has contracted through FIrst Dlstnct RegIOnal EducatIonal ServIce Agency wIth Valuallon AdvIsory Group m order to establIsh General Fixed Assets The School Dlstnct WIll be accountmg for General FIxed Assets m fiscal year 2003 m order to comply WIth GASB 34 ThIs findmg should be resolved m thc next audit penod \r\n \r\n SECTION IV FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2002 \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\nCASH AND CASH EQUNALENTS Inadequate SeparatIon of Duties Reportable ConditIon Repeated From Pnor Year Finding Control Number FS-7931-02-01 \r\nAn examinatIOn of the Internal accounting control procedures revealed that the School Dlstnct did not prOVide for adequate separatIon of dutIes In the performance of the follOWing accounting functIOns and related procedures \r\nThe bank reconCI hatlon functIOn was not separated from check preparatIOn. In addition, bank reconclhatIons were not reviewed by an indiVidual Independent of the bank reconcIlIatIOn process \r\nThe bookkeeping functIon was not separated from the cash receipts functIOn \r\nThese conditIons were a result ofmanagement's deciSion to hmlt the number of adminIstrative staff made responSible for accounting functIons The School Distnct should review the accountmg procedures In place, deSign procedures whIch would enhancc scgrcgatIon of dutIcs relatlvc to thc above control catcgones and Implement those procedures to strengthen the Internal control over accounting functions \r\nGENERAL FIXED ASSETS FaIlurc to Maintain General Fixed Assets Account Group Reportable Condition - Matenal Weakness Repeated From Pnor Year Finding Control Number FS-7931-02-02 \r\nThc City of VidalIa Board of Education did not maintain a system-Wide General Fixed Assets Account Group Within thc formal accounting records as reqUIred by generally accepted accounting pnnclplcs ThiS condition results III thc general-purpose finanCial statements ofthe School Dlstnct being mcomplete and not III accordance With generally accepted accounting pnnclples Appropnatc actIOn should be taken by the School Dlstnct to establIsh accounting controls and procedures to prOVide for mamtenance of a Gcncral Fixed Assets Account Group These SUbSIdiary records should mclude an mvcntory of land, bUlldmgs and eqUIpment owned by the School District and should mclude, but may not be hmlted to, date acqUIred, acquISItIon cost, estlmatcd replacement cost, locatIOn and dcscnptlOn Detailed records should be malntamed of all additions and deletions to the General Fixed Asscts Account Group \r\nIII FEDERAL AWARD FINDINGS AND OUESTIONED COSTS \r\nNo mattcrs were reported \r\n-2- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY SCHEDULE OF FINDINGS AND OUESTIONED COSTS YEAR ENDED JUNE 30, 2002 \r\n \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n \r\nType of Report Issued on the Fmanclal Statements The audItor's 0plillon on the CIty of VIdalIa Board of EducatIOn's financIal statements was quahfied for vanous departures from generally acceptcd accounting pnnclples \r\n \r\n2 Reportable CondItIons In Internal Control DIsclosed by the Audit of the FinancIal Statcments The audIt report for the CIty of Vldaha Board of EducatIon dIsclosed financIal statement reportable conditIOns related to the follOWing control categones \r\n \r\nCash and Cash EqUivalents \r\n \r\nGeneral Fixed Assets \r\n \r\nOf the reportable conditIOns descnbed above, General FIxed Assets IS consIdered to be a matenal weakness \r\n \r\n3 Noncomphance Matenal to the FinancIal Statements The audit of the CIty ofVIdalIa Board of Education dIsclosed no Instances ofnoncornplIancc that were deemed to be matenal to thc financial statements \r\n \r\n4 Reportable CondItIOns In Internal Control Over Major Programs The audIt report for the CIty ofVldaha Board of EducatIOn dId not dIsclose any reportable condItions In Internal control over major programs \r\n \r\n5 Type of Report Issued on ComplIance for MaJOr Programs The auditor's OpinIOn on the City of VIdalIa Board of EducatIOn's report on complIance With reqUlremcnts applIcable to major programs was unqualIfied \r\n \r\n6 AudIt Fmdmgs ReqUIred to be Reported by SectIOn 51 Ora) ofOMB Circular A-133 The CIty ofVldaha Board of EducatIOn's audIt did not disclose audIt findmgs reqUIred to be reported by section 5 IO(a) ofOMB Circular A-I33 \r\n \r\n7 MaJor Programs The Federal award audited as a major program IS as follows 84 010 Elementary and Secondary EducatIon Act - Title 1- Grants to Local Educational AgenCIes \r\n \r\n8 Type nAn Program Dollar Threshold The dollar threshold for type nAn programs was $300,000 00 \r\n \r\n9 Low Risk Audltee The CltyofVldaha Board of EducatIOn quahfied as a low nsk audltee as dcfined by SectIOn .530 ofOMB CIrcular A-l33 \r\n \r\n-I - \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b2000-h2001","title":"City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2001","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Toombs County, Vidalia, 32.21769, -82.41346"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["2001-06-30"],"dcterms_description":["Began with: Fiscal year ended June 30, 2000; ceased with: Fiscal year ended June 30, 2008.","Report year covers fiscal year.","Has supplements: City of Vidalia Board of Education, Toombs County, Georgia, schedule of salaries and travel, fiscal year ended June 30, 2000-fiscal year ended June 30, 2002; Report on salary and travel for the fiscal year ended ... (City of Vidalia Board of Education, Ga.), fiscal year ended June 30, 2003-fiscal year ended June 30, 2007; Salaries and travel reimbursement (City of Vidalia Board of Education, Ga.), fiscal year ended June 30, 2008."],"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":["City of Vidalia Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Vidalia--Auditing--Periodicals.","Education--Georgia--Vidalia--Finance--Statistics--Periodicals.","Education--Auditing","Education--Finance","Expenditures, Public","Georgia--Vidalia--fast","Georgia Government Documents--Serial"],"dcterms_title":["City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2001"],"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-be33-bv3-b2000-h2001"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b2000-h2001"],"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":", \r\n \r\n,, \r\n \r\n\" \r\n \r\n.\"\u003c \r\n \r\n'. \r\n \r\n\\ \r\n \r\n'\" \r\n \r\n\" \r\n \r\n','. \r\n \r\n,: 1 \r\n \r\n,,' \r\n \r\n'.'., \r\nI' f \r\n \r\n.' \r\n \r\n,, \r\n \r\n,. \r\n \r\n, \u003c ,. \r\n \r\ni, \r\n \r\n,r' \r\n' \",- , \r\n \r\n:~ \r\n \r\n\" \r\n'STATE 'Of' GEORGIA', \r\n \r\n,- , \r\n \r\nI ~,, \r\n \r\n\" \r\n \r\n\" \r\n \r\n-\" \r\n, \" \r\n \r\n.: \r\n \r\n\" :DEPARTMENt OF AliDITS 'AND,ACCOUNTS' \r\n \r\n: \r\n \r\n1 \r\n \r\nGA ,'~: \" :, ' \r\n \r\n\" \u003c'\" \r\n \r\n'. \r\n \r\n..,' \r\n \r\n,,: \r\n \r\n.' \r\n \r\nA~Db .' \" \r\n \r\n-. \r\n \r\n:Rf \r\n \r\n..  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' \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 CITY OF VIDALIA BOARD OF EDUCATION TOOMBS COUNTY - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATIONSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\nEXHIBITS \r\n \r\nGENERAL-PURPOSE FINANCIAL STATEMENTS \r\n \r\nCOMBINED STATEMENTS - OVERVIEW \r\n \r\nA \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\nALL FUND TYPES AND ACCOUNT GROUP \r\n \r\n2 \r\n \r\nB \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nALL GOVERNMENTAL FUND TYPES \r\n \r\n4 \r\n \r\nC \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\n(NON-GAAP BASIS) \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n7 \r\n \r\nD \r\n \r\nSTATEMENT OF REVENUES, EXPENSES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nFIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND \r\n \r\n8 \r\n \r\nE \r\n \r\nSTATEMENT OF CASH FLOWS \r\n \r\nFIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND \r\n \r\n9 \r\n \r\nF NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\n \r\n10 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING STATEMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nG \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n22 \r\n \r\nH \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n24 \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nI \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n26 \r\n \r\nJ \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n28 \r\n \r\nDEBT SERVICE FUND \r\n \r\nK \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n30 \r\n \r\nL \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n31 \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nSCHEDULES \r\n \r\nI SCHEDULE OF EXPENDITURES OFFEDERAL AWARDS \r\n \r\n32 \r\n \r\n2 SCHEDULE OF STATE REVENUE \r\n \r\n34 \r\n \r\n3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\n \r\n35 \r\n \r\nALLOTMENTS AND EXPENDITURES \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS (QBE) \r\n \r\n4 \r\n \r\nBY PROGRAM \r\n \r\n36 \r\n \r\n5 \r\n \r\nBY SITE \r\n \r\n37 \r\n \r\nSECTION n \r\nCOMPLIANCE AND INTERNAL CONTROL REPORTS \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULARA-133 \r\n \r\nSECTION III AUDITEE'S RESPONSE TO PRJOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRJOR YEAR FINDINGS AND QUESTIONED COSTS \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 Rll~\"'~U \\\\'. H .....TO\" \r\nSTATE AUDITOR \r\n(404) 656 2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n:2\";4 WJ...hmglOn Streel, S W. ~UIIC 214 Allanta. Georgi' ~03~4-l'4()() \r\nJune 10, 2002 \r\n \r\nHonorable Roy E Barnes, Governor Members of the General Assembly Members of the State Board ofEducation \r\nand Supenntendent and Members of the CIty ofVldaha Board of Education \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SupPLEMENTARY INFORMATIONSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nLadles and Gentlemen \r\nWe have audited the accompanymg general-purpose finanCial statements ofthe CIty ofVidalia Board of Education, as of and for the year ended June 30, 200 I, as hsted 10 the table of contents These general-purpose finanCial statements are the respoDSlblhty ofthe CIty ofVidalia Board ofEducation's management Our responslblhty IS to express an opinIOn on these general-purpose finanCial statements based on our audit \r\nWe conducted our audit 10 accordance With auditing standards generally accepted 10 the U10ted States of Amenca and the standards apphcable to financla! audits contamed 10 Government Auditing Standards, ISsued by the Comptroller General of the Uruted States Those standards require that we plan and perform the audtt to obtam reasonable assurance about whether the finanCial statements are free of matenall1llsstatement An audtt mcludes eXll.lIllrung, on a test baSIS, eVIdence supporting the amounts and dtsclosures 10 the finanCial statements An audit also 10cludes assess10g the accountmg pnnclples used and Slgruficant eStImates made by management, as well as evaluating the overall finanCial statement presentation We beheve that our audit prOVIdes a reasonable basiS for our 0plOlon \r\nAs descnbed 10 the notes to the general-purpose finanCial statements, the Board of Education's finanCial statements have been prepared usmg certam accountmg practices and pohcles which, m our oplOlon, vary m some respects from generally accepted accounting pnnclples These vanances are descnbed as follows \r\n \r\n2001ARL-13 \r\n \r\n  The general-purpose finanCIal statements of the Board of EducatIon did not contam a General FIxed Assets Account Group to account for property and eqUIpment owned by the Board of EducatIOn winch should be mcluded to conform to generally accepted accountIng pnnclples \r\n School actiVIty accounts mamtamed at the indIVIdual schools are not Included In the general-purpose finanCial statements To conform to generally accepted accountIng pnnclples, these accounts should be mcluded 10 the general-purpose finanClal statements \r\n The Board of Education did not recogruze as expendttures, 10 the year ended June 30, 2001, a portion of salanes and the correspondtng employer's cost of related benefits earned for contractual serVIces completed pnor to June 30, 200 I Also funds received, subsequent to June 30,2001, from the Georgia Department of EducatIon for the State's share of these unrecorded salanes and related benefits were not recorded as revenue 10 the year under reVIew Conversely, the slDlllar expendlt1lres and related revenues for contractual serVIces completed pnor to June 30, 2000, were lffiproperly recorded 10 the year ended June 30, 200 I To conform to generally accepted accountmg pnnclples, revenues should be recorded when avadable and measurable and expendtt1lres should be recorded when mC1lITed, rather than when funds are received or disbursed \r\nThe aggregate effects on the general-purpose finanCIal statements of these vanances or OnuSSlOns have not been deterrmned, but are beheved to be matenal \r\nIn our oplDlon, except for the effects on the general-purpose finanCIal statements of the matters referred to in the precedtng paragraph, the general-purpose finanCial statements referred to above present fwrly, 10 all matenal respects, the finanCial posItIon ofthe CIty ofVIdalia Board ofEducatIOn as of June 30, 2001, and the reSldts of ItS operatlons and the cash flows of Its nonexpendable trust fund for the year then ended, In confonruty WIth accounting pnnClples generally accepted In the Uruted States of America \r\nIn accordance WIth Government AudltlOg Standards, we have also ISSUed our report dated June 10, 2002, on our consIderation ofthe CIty ofVidalia Board ofEducation's IOternal control over finanCial reporting and our tests of ItS comphance WIth certam proVIsIOns oflaws, regulatIOns, contracts and grants That report IS an mtegral part ofan audtt performed 10 accordance WIth Government AudttJ.ng Standards and should be read 10 conjunction WIth tins report 10 considenng the reSldts of our audtt \r\nOur audIt was performed for the purpose of forrmng an 0plDlon on the general-purpose finanCIal statements ofthe CIty ofVidallR Board ofEducation taken as a whole The accompanymg comblDlng statements (ExhibIts G through L) and the finanCial schedules (Schedules I through 5), which mcludes the Schedule ofExpenditures ofFederal Awards as reqUired by U S Office ofManagement and Budget CITcular A-133, Audits ofStates, Local Governments, and Non-Profit OrgatUzallO'~. are presented for purposes of additIOnal analysIs and are not a requITed part of the general-purpose finanCIal statements Such IOforrnation has been subjected to the auditing procedures apphed 10 the audtt of the general-purpose financial statements and In our OplruOn, except for the effects of the matters referred to 10 the thJrd paragraph, such information IS fwrly stated, In all matenal respects, In relation to the general-purpose finanCial statements taken as a whole \r\n200 IARL-13 \r\n \r\n A copy ofthis report has been filed as a permanent record m the office ofthe State Auditor and made avaIlable to the press ofthe State, as proVIded for by OffiCIal Code ofGeorgIa Armotated SectIon 506-24 \r\nRespectfully submItted, \r\n~~/ell..W...HaIntoln ~.~~ State AudItor \r\nRWHas 200 1ARL-13 \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\n \r\n CITY OF YlQAUA BOARD OF EDuCATIoN. TOOMBS COUNTY COMBINED BALANCE SHEET \r\nALL FUND TYPES AND ACCOUNT GROUp JUNE 30 2001 \r\n \r\n~ C8ah and cash Equrvaiants \r\n11lVMUnOn\" Accounts Receivable InventorIeS \r\nFood \r\nDonated CorTvnodrIJ.. \r\nPurt:haSedFood Amount AYallable In Debt Servk::e Fund \r\nAmount to be PrtMded In Future Years For Paymanl at Bond Dabt \r\nTotal_ \r\n \r\nGENERAL FUND \r\n \r\nGOVERNMENTAL FUNO TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nS \r\n \r\n934,19172 \r\n \r\nS 1,411,91690 S \r\n \r\n45,000 00 \r\n \r\n987,53947 \r\n \r\n450,13996 \r\n \r\n297,586 70 \r\n \r\n15,056 51 3794 40 \r\n \r\nS 2,299,355 37 S \r\n \r\n513,99087 S 1,221,76842 \r\n \r\nLIABILITIES AND FUNQ EauITY \r\nLlABlLmES \r\nCash Ovardroft Accounts Payabla 5aIanas Payabla \r\nExpIred Grant BaIancea Payabla \r\nCOntraClS Payabla Re1a,nages Payabla \r\nDalarred Ravenua \r\nGeneral Obltg8tlon Bonds Payabla \r\nTotaIlJaI\u003el_ \r\nFUND EaUITY \r\nFund BaI\"nces Reserved For Bus Raplacemanl Funds For Debt Serw::e For Endowment Corpui For Expired Grant IlaIanceaIQU8Itloned Colla For Inventones Food Donated Commodlbas Purd1aoed Food For purpose of Bond Issue For SPLOST Projads UnrlllIel'ied Unda8lgnated \r\nTotal Fund Equity \r\n \r\nS \r\n \r\n14,01074 S 157,43016 \r\n \r\n74061 \r\n \r\n25,574 11 S \r\n \r\n17980 \r\n \r\n74226 \r\n \r\n103,168 87 \r\n \r\n2.022 9B \r\n \r\n179,84517 \r\n \r\n39,234 85 \r\n \r\n10938 03 \r\n \r\nS \r\n \r\n15,49361 S 299 134 15 S \r\n \r\n21925982 \r\n \r\nS \r\nS 228386176 S 2,2B3,861 76 S \r\n \r\n1505651 3,794 40 \r\nS \r\n196 DOS 81 \r\n214,856 72 S \r\n \r\n168 355 07 80106613 \r\n3308740 \r\n1,002,50B 60 \r\n \r\nTolaIlIablhtlOl and Fund Eqllty \r\n \r\nS \r\n \r\n2299 355 37 S 1 \r\n \r\nThe notes to the genelllll-purpoae finanaal statements are an Integral pIiIn of thIS .tateill6lt \r\n \r\n513 99087 1 \r\n \r\nS \r\n \r\n1221,768042 \r\n \r\n2 \r\n \r\n EXHIBIT \",.\" \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nFIDUCIARY FUND TYPE NONEXPENDABLE TRUST FUND \r\n \r\nACCOUNT GROUP GENERAL \r\nLONG-TERM DEBT \r\n \r\nTOTALS \r\n \r\n(Memorandum Only) \r\n \r\nJUNE 30, 2001 \r\n \r\nJUNE 30, 2000 \r\n \r\n$ \r\n \r\n15,64881 $ \r\n \r\n833 40 9168 \r\n \r\n$ \r\n \r\n95066393 $ \r\n \r\n1,456 908 58 \r\n \r\n60730705 \r\nno 645 55 \r\n \r\n1625,26513 \r\n \r\n1,281,666 90 \r\n \r\n$ \r\n \r\n1564881 \r\n \r\n319935119 \r\n \r\n15,056 51 3,794 40 15,648 81 \r\n3,199 35119 \r\n \r\n10,879 19 3,796 26 \r\n342000000 \r\n \r\n$ \r\n \r\n15,1;4881 $ \r\n \r\n92508 $ \r\n \r\n3,215000 00 $ 7266,688 55 $ 6094.294 95 \r\n \r\n$ \r\n \r\n17144090 \r\n \r\n26,494 52 $ \r\n \r\n26 970 18 \r\n \r\n10391113 \r\n \r\n98,80300 \r\n \r\n2022 98 \r\n \r\n17984517 \r\n \r\n39,234 85 \r\n \r\n10,938 03 \r\n \r\n$ \r\n \r\n321500000 \r\n \r\n3215,000 00 \r\n \r\n3,420 000 00 \r\n \r\n$ \r\n \r\n3215000 00 $ 3748,88T 58 $ 3,645,n318 \r\n \r\n$ \r\n \r\n15,64881 \r\n \r\n$ \r\n \r\n000 \r\n \r\n$ \r\n \r\n15,641881 $ \r\n \r\n$ \r\n \r\n1564881 $ \r\n \r\n92508 \r\n000 92508 \r\n \r\n$ \r\n \r\n36,928 00 \r\n \r\n$ \r\n \r\n15,648 81 \r\n \r\n925 08 \r\n \r\n639532 \r\n \r\n89375 \r\n \r\n15056 51 3,794 40 \r\n168,35507 801,068 13 \r\n \r\n10,87919 3,796 26 \r\n21002705 29729156 \r\n \r\n251295497 \r\n \r\n1982,31064 \r\n \r\n$ 3,517,800 97 $ 2648,521 n \r\n \r\n92508 $ \r\n \r\n3,215.000 00 $ 7,268,688 55 $ 6.094:294 95 \r\n \r\n- 3- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINED STATEMENT OF REYJENUES EXPENDITURES AND CHANGES IN FUND BAlANCES \r\nALL GOYJERNMENTAL FUND TYPES \r\nYEAR ENDED JUNE 30 2001 \r\n \r\nREYJENUES \r\nState Funds Federal Funds Taxes Other Fund. \r\nTolal Revenues \r\nEXPENDITURES \r\nCurrent lnotructlon \r\nSupport selVlce. \r\nPUPI' Servlces \r\nImprovement of InalnJclJon8I Servtces Educabonal Mad.. ServIces \r\nGenaral Admlnlstnltlon Sd1oo1 AdminIStration Business Admlnlstratkm \r\nMaintenance and Operation of Plant \r\nStudent Transporta\\K\u003en selVlCeS \r\nContral Support Servtces \r\nOther Support SeIVlC8. \r\nFood ServIces Operation \r\nCommunrty services Operabons Capital OJtlay \r\nDebt service \r\nPrinapal Interest PIIyV1g Agent Foes \r\nTolal Expendrtunla \r\nExcass of Revenue. over (under) Expendrtures \r\nOTHER FINANCING SOURCES IUSES\u003e \r\nOperabng Transfers In Qperabng Transfers 0Jt \r\nTolal Other F...nang SoIJrces (lJaes) \r\nExcess of Revenues and Other Financing Sources over (under) ExpenchtuntS and Other Fnanang Uses \r\nFUND BALANCE JULY 1 \r\nFood InventOlY - Net Change ,n Period Donated Commodtbes F'lJrchased Food \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REYJENUE \r\nFUND \r\n \r\nS 10,251,860 15 S \r\n2,971,27890 565,76646 \r\nS 13,788,90551 S \r\n \r\n117,57000 1,633,92821 \r\n238,27573 \r\n1,889,m94 \r\n \r\nS 9,056,151 40 S \r\n501,94575 200,68717 372,72027 432,903 18 l,048,On50 161,060 02 897,73549 332,41065 \r\n709 50 26,31634 \r\n119,41057 \r\n \r\n803557 80 12,472 38 \r\n207,37623 67,896 22 7200 \r\n14,930 31 \r\n909,14501 \r\n \r\nS 13,150,12784 S \r\n \r\nS \r\n \r\n638,7n67 S \r\n \r\n2,015,44995 -25,67601 \r\n \r\nS \r\n \r\n34433 \r\n \r\n-111,938 41 \r\n \r\nS -111,59408 \r\n \r\nS \r\n \r\n527,183 59 S \r\n \r\n1,756,678 17 \r\n \r\n-25,67601 236,35727 \r\n \r\n4,ln32 -1 88 \r\n \r\nFUND BAlANCE JUNE 30 \r\n \r\ns \r\n \r\nThe notes to the general--purpose ftnandal stalementa are an 1fIteg:rat part of this statement \r\n \r\n-4- \r\n \r\n2,283,861 76 S _ ....2~1:.::4.:i,8:;:5~6:.72~ \r\n \r\n EXHIBIT \"B\" \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTALS \r\n \r\n(Memorandum Only) \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2001 \r\n \r\nJUNE 30, 2000 \r\n \r\nS 1,178,23616 S 22,903 61 \r\nS 1,201,139n S \r\n \r\n$ \r\n400,46317 5,04997 \r\n \r\n10,369,43015 $ 1,633,92821 4,549,97823 831,995 n \r\n \r\n9,616,636 98 1,757,560 11 3,128,530 78 \r\n793,13134 \r\n \r\n405,51314 S 17,385,33236 S 15,295,85921 \r\n \r\nS 9,859,70920 S 9,729,871 82 \r\n \r\nS \r\n \r\n659,660 59 \r\n \r\n514,41813 408,06340 372,720.27 500,79940 1,048,149 50 161,060 02 897,73549 347,340 96 \r\n70950 26,31634 909,14501 119,41057 859,660 59 \r\n \r\n723,988 74 341,01048 364,17555 47446331 1,00938942 143,37698 962,952 65 263,92337 \r\n38400 25,606 56 685,40647 98,629 56 \r\n442,144 ee \r\n \r\nS \r\n \r\n205,00000 \r\n \r\n183,72500 \r\n \r\n79500 \r\n \r\n205,00000 183,72500 \r\n79500 \r\n \r\n18000000 192,27500 \r\n79500 \r\n \r\nS \r\n \r\n859,660 59 S \r\n \r\n389,52000 S 16,414,75838 S 15,816,59579 \r\n \r\nS \r\n \r\n341,47916 S \r\n \r\n15,99314 S \r\n \r\n970,573 98 S -522,736 56 \r\n \r\nS \r\n \r\n111,93841 \r\n \r\nS \r\n \r\nS \r\n \r\n111,93841 S \r\n \r\nS \r\n \r\n463,417 59 S \r\n \r\n549,091 01 \r\n \r\nS -344 33 \r\n-344 33 S \r\n \r\n112.282 74 S -112,282 74 \r\n000 S \r\n \r\n407,66940 -'107,669 40 \r\n000 \r\n \r\n15,64881 S 000 \r\n \r\n970573 98 $ 2,542,126 45 \r\n \r\n-522,736 56 3,073,003 30 \r\n \r\n4,ln32 \r\n-1 ee \r\n \r\n-7,64767 \r\n-'192 eo \r\n \r\ns 1.002,50860 S \r\n \r\n15,648 61 S \r\n \r\n2.542: 12645 \r\n \r\n-5- \r\n \r\n CITY OF ViDAlIA BOARD OF EpUCATION - TOOMBS COUNTY \r\nCOMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BAlANCES BUDGET ANp SPECIAl REVENUE FUNDS \r\nYEAR ENDED JUNE 30 2001 \r\n \r\nEXHIBIT \"C\" \r\n \r\nGENERAL FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\nREVENUES \r\nState Funds Federal Funds TIlX88 0Ihef Funds \r\n \r\n$ 9,999,63700 $ 10,251,86015 \r\n \r\n21131,892 30 366,50000 \r\n \r\n2,971,27690 565,76646 \r\n \r\nTotal Revenues \r\n \r\n$ 13,196,02930 $ 13,786,90551 \r\n \r\nEXPENDITURES \r\n \r\nCurmrt I_on Support 5eMces PupdSorvlcea Improvement of Instructional Services EducalJonal MedIa 5ervIC8s GenoraJ Admln!llnlllon S\u003c:hooI Adminislnl\\tQn B u _ Adm.lIstratkx1 MalntanBr\u003c:e and Qporallon 01 Plant Sludanl Transportation Servicas central SUpport SBrvIcas 0Ihef Support SBrvIces Food _ s QpermIon COmm...rty 5ervIC8s OperatIon. \r\n \r\n$ 676M2286 $ \r\n740,90587 17083198 3\u00261,000 86 340,39723 1,013,230 70 \r\n180,~00 \r\n995,113100 3\u00261,066 00 \r\n12,000 00 \r\n100,00000 \r\n \r\n9,056,15140 \r\n501,U.575 200,68717 372,72027 .32,90316 1,048,077 50 161,060 02 697,735 .9 332,.1068 \r\n709 50 26316.3-4 \r\n119,.,057 \r\n \r\nTotal ExpondIlureo \r\n \r\n$ 13,065,11652 $ 13,150,12784 \r\n \r\nExcess 01 Roven- over (~) Expenditures $ \r\n \r\n132,91276 $ \r\n \r\n636,777 67 \r\n \r\nOTHER FINANCING SOURCES (USES) \r\n \r\n0Ihef Sourt:as OIhefU.... \r\nTotal 0Ihef Financing Sourt:as (Uses) \r\n \r\n$ \r\n \r\n~33 \r\n \r\n-111,936.1 \r\n \r\n$ -111 ,5U. 06 \r\n \r\nExcess 01 Revenues BOO 0Ihef Financing Sourt:as \r\n \r\nOYtI, (under) ExpendItures BOO 0Ihef Financing \r\n \r\nU_ \r\n \r\n$ \r\n \r\n132,91276 $ \r\n \r\nFUND BAlANCE JULY 1 2000 \r\n \r\n1,736,729 33 \r\n \r\n527,16359 1,756,676 17 \r\n \r\nAdjustments Food Inventoly - Net Change '\" Ponod Donetad Commochbes Pun:hasad Food \r\n \r\n-ll79 \r\n \r\nFUNp BALANCE JUNE 3D 201 \r\n \r\n$ 1,869.641 32 $ 21 283[861 76 \r\n \r\nSPECIAl REVENUE FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\n$ 122,880 00 $ 117,57000 \r\n \r\n1,686 401 00 \r\n \r\n1633,92621 \r\n \r\n265,60000 \r\n \r\n236,27573 \r\n \r\n$ 2,07.,661 00 $ 1,969,mu. \r\n \r\n$ 796 U.7 00 $ 80355780 \r\n \r\n12,600 00 232650 00 \r\n \r\n1H72 36 207,37623 \r\n \r\n57,106 00 \r\n \r\n67,696.22 7200 \r\n \r\n6,100 00 \r\n \r\n1.,93031 \r\n \r\n6,07600 939,19206 \r\n.00 00 \r\n \r\n909 1.501 \r\n \r\n$ 2,05M7306 $ 2,015,\"995 \r\n \r\n$ \r\n \r\n21,407 U. $ \r\n \r\n-25,67601 \r\n \r\n$ 21,000 00 21,000 00 \r\n \r\n$ \r\n \r\n000 \r\n \r\nS \r\n \r\n21,.07 ~ S \r\n \r\n240 132 73 \r\n \r\n6,29-417 \r\n \r\n-25,67601 236,35727 \r\n.,177 32 -1 66 \r\n \r\n$ 267:834 84 $ 21\",858 72 \r\n \r\nThe no1lIIl to tho genoral-purpOsa llnanclalstetoments are an Inlegral part oItI\"s sbllBi'_ 7 \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\nSTATEMENT.OF REVENUES, EXRENSES AND'CHANGES IN FUND BAlANCES FIDUCIARY FUND TYPE~ NONEXPENDABI:E TRUST FUND YEAR ENDED JUNE 30, 2001 \r\n \r\nEXHIBIT \"0\" \r\n \r\nOpERATING REVENUES None Recorded \r\nOpERATING EXPENSES Current ScholarshIps Operabng Income (Loss) \r\nNONOPERATING REVENUES DIVIdends Earned Net Increase (Decrease) In the Fair Value of Investments Nonoperatrng Revenues Net Income (Loss) \r\nFUND BALANCE JULY 1 \r\nFUND BALANCE JUNE 30 \r\n \r\nENDOWMENT FUND \r\nSARA A MURCHISON SCHOLARSHIP \r\nFUND \r\n \r\nTOTALS \r\n \r\n(Memorandum Only) \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2001 \r\n \r\nJUNE 30, 2000 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n000 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n000 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n000 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n9168 \r\n \r\n$ \r\n \r\n-5,47024 $ \r\n \r\n-5,47024 \r\n \r\n-15,646 72 \r\n \r\n$ \r\n \r\n-5,47024 $ \r\n \r\n-5,470'24 $ \r\n \r\n-15,555 Q4 \r\n \r\n$ \r\n \r\n-5,47024 $ \r\n \r\n-5,47024 $ \r\n \r\n-15,555 Q4 \r\n \r\n6,395 32 \r\n \r\n6,395 32 \r\n \r\n21,950 36 \r\n \r\n$ \r\n \r\n92508 $ \r\n \r\n92508 $ _ _..::6:':13:;:9::,5~32,- \r\n \r\nThe notes to the general-purpose finanCIal statements are an Integral part of thIS statement \r\n-s- \r\n \r\n CIJY OF VIDALIA BOARD OF EDUCATION TOOMBS COUNJY \r\nSTATEMENT OF CASH FLOWS \r\nFIPUCIARY FUNp JYPE  NONEXPENDABLE TRUST FUND \r\nYEAR ENDED JUNE 30. 2001 \r\n \r\nEXHIBIT\"E\" \r\n \r\nCash Flows from Operabng AclMtJes Cash Paid for Scholarships \r\nCash Flows from InvesM9 AclMtJes DNldends ReceN9d on Investments \r\nNet Increase (Decrease) In Cash Cash and Cash EqUivalents July 1 \r\nCash and Cash Equivalents June 30 \r\n \r\nENDOWMENT FUND \r\nSARA A MURCHISON SCHOLARSHIP \r\nFUND \r\n \r\nTOTALS \r\n \r\n(Memorandum Only) \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30. 2001 \r\n \r\nJUNE 30. 2000 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n000 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n000 $ \r\n \r\n9168 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n000 $ \r\n \r\n9168 \r\n \r\n83340 \r\n \r\n83340 \r\n \r\n74172 \r\n \r\n$ \r\n \r\n83340 $ \r\n \r\n833 40 $ \r\n \r\n.;:8;;;;33~40::.. \r\n \r\nThe notes 10 the genera~purposefinanCIal statements are an Inlegral part of this sta1emenl - 9- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30 2QQ! \r\n \r\nEXHIBIT \"F\" \r\n \r\nNote 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nREPORTING ENTITY \r\nThe City ofVidalia Board ofEducalJon (School Dlstnct) was estabhshed under the laws ofthe State of GeorgIa and operates under the guidance of a school board elected by the voters and a Supenntendent 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 prunary government and COnsiStS of all the organIZatIons that compose ItS legal entIty \r\nFUND ACCOUNTING \r\nThe School DIMct uses funds and an account group to report on Its finanCIal pOSItIOn and the results ofIts operalJons Fund accountIng IS deSigned to demonstrate legal comphance and to HId finanCIal management by segregatmg transactIons related to certaIn governmental functions or actiVItIes A fund IS a separate accountmg entIty WIth a self-balanCIng set of accounts An account group IS a finanCIal reportIng deVIce deSigned to prOVide accountablhty for certaIn assets and habilitIes that are not recorded In the funds because they do not dIrectly affect expendable avatlable finanCIal resources \r\nGeneral FIxed Assets are recorded as expendItures In the vanous funds at the tIme of purchase A General FIXed Assets Account Group IS not presently mamtaIned by the School DIstrict To conform to generally accepted accountIng pnnclples, a General Fixed Assets Account Group should be maIntaIned for reportIng the cost of assets acqUIred by governmental fund types \r\nAlthough \"school actIVIty accounts\" are maIntatned at the mdIVIdual schools, neIther the assets, hablhtIes 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 accountmg prrnclples, these accounts should be recorded In the general-purpose finanCial statements \r\nThe general-purpose fmanclal statements account for all State, Federal, Taxes and Other funds under control of the School DiStrIct, In comphance WIth generally accepted accountIng prinCIples apphcable to governmental UnIts, unless otherwIse disclosed In these notes Funds and the account group presented In thIS report are as follows \r\nGOVERNMENTAL FUND TYPES - are used to account for all or most ofa School DIstrIct's educatIonal actIVItIes Governmental Fund Types mclude \r\nGENERAL FUND - the fund used to account for all fmanclal resources of the School District except those reqUired to be accounted for m another fund These transactIons relate to resources obtHlned and used for servIces prOVided by a board of educatIon \r\n \r\n- 10- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30 2001 \r\n \r\nEXHIBIT \"F\" \r\n \r\nNQte I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nSPECIAL REVENUE FUND - the fund used to account fQr the proceeds of specific revenue sources (Qther than fQr majQr capital projects) that are legally restricted tQ expenditures fQr speCified purpQses These funds are received pnmartly frQm the GeQrgla Department Qf EducatlQn and frQm the Federal gQvernment tQ accQmplish speCific eduCallQnal Qbjectlves \r\nCAPITAL PROJECTS FUND - the fund used tQ aCCQunt fQr fmanclal reSQurces tQ be used fQr the acqUlsltiQn Qr construCUQn Qf majQr caPltaJ faCilities \r\nDEBT SERVICE FUND - the fund used tQ account fQr the accumulatIOn Qfresources fQr, and the payment Qf, generallQng-term pnnclpal, mterest and paymg agent fees \r\nFIDUCIARY FUND TYPE - the fund used tQ account fQr assets held by a gQvernment UnIt In a trustee capacity Qr as an agent fQr indiViduals, pnvate QrgamzatlOns, Qther gQvernment umts and/Qr Qther funds ThiS fund mcludes \r\nNONEXPENDABLETRUSTFUND Sara A. Murchison Scholarship Fund - the fund used tQ account fQr an endQwment Qfwhlch the CQrpus IS tQ be Invested and preserved mtact With the resultant Income tQ be used tQ proVide cQUege schQlarshlps tQ Vidalia City High SchQQl SemQrs \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - A fmanclal repQrtmg deVice used tQ account fQr general QbligauQn debt Qutstandmg \r\nBASIS OF ACCOUNTING \r\nThe accounung and finanCial repQrllng treatment applied tQ a fund IS determined by rts measurement fQCUS All gQvernmentai funds are accounted fQr USing a current financial reSQurces measurement fQCUS With thiS measurement fQcus, only current assets and current liabilities generaUy are mcluded Qn the balance sheet Operating statements Qfthese funds present mcreases (1 e , revenues and Qther financmg sQurces) and decreases (I e ,expenditures and Qther financlDguses) m net current assets TheIr reported fund balance IS cQnsldered a measure of available spendable reSQurces \r\nLiabilities which are expected tQ be financed frQm available spendable resources are repQrted as liabilities m the gQvernmentai funds Other habllilles, which are nQt expected to be financed frQm avaJlable spendable reSQurces, are repQrted m the General Long-Term Debt AccQunt GrQUP \r\nAll nQnexpendable trust funds are accQunted fQr Qn a flQW Qf econQmlC reSQurces measurement fQCUS With thiS measurement focus, all assets and hablhlles assQclated With the QperauQn ofthese funds are mcluded on the balance sheet Operatmg statements present Increases (e g ,revenues) and decreases (e g , expenses) m net tQtaJ assets \r\n \r\n- II - \r\n \r\n CITY OF \\fIDALlA BOARD OF EDUCATION - TOOMBS COUNTY NOTES TO THE GENERAL'PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30. 200( \r\n \r\nEXHIBIT\"F\" \r\n \r\nNote I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nI. \r\n \r\nGovernmental funds are accounted for usmg the modified accrual basiS ofaccountmg under winch \r\n \r\nI \r\n \r\nRevenues are recogruzed when susceptIble to accrual (I.e., when they become both measurable and avaJlable) \"Measurable\" means the amount of the transactIon can be determmed and \"avllllable\" means collectible wltlun the current penod or soon enough thereafter to be used to pay hablhtles of the current penod. The School Dlstnct considers receivables collected wltlun SIXty days after yearend to be aVllllable and therefore susceptible to accrual Nonexchange transactions, m winch the School Dlstnct gives (or receives) value Without directly receIVIng (or giVing) equal value In exchange, \\Delude property taxes, local option sales taxes, Intergovernmental grants and donations Revenue for property taxes is recognized m the fiscal year for winch the taxes are leVied Revenue from sales taxes IS recogruzed In the fiscal year the resources are received or susceptible to accrual Revenue from grants and donatIons IS recogruzed In the fiscal year In winch all ehglblhty requITements have been satisfied \r\n \r\nExpenditures are generally recogruzed when the related fund habJllty IS Incurred \r\n \r\nA departure from the above defirutIons IS the accounting treatment afforded the final two payments on General Fund teachers' and bus dnvers' contracts, and the resources aVllllable from the Georgia Department of Education for the State's share of these contracts Dunng fiscal year 2001, a substantial number ofpersormel ofthe School Dlstnct were employed for a one hundred and runety day penod beglnnmg In August 2000 and ending In early June 2001 Persormel contracts for thiS employment penod specify that compensatIon be pllld m twelve equal monthly payments beglnnmg In September 2000 and endmg In August 2001 State grants to fund the State's share of these contracts were disbursed from the Georgia Department of EducatIon to the School Dlstnct In the same twelve months As of June 30, 2001, compensatIon under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 2001, had not been made Payments for these two months were made and recorded as expenditures by the School DIstnct subsequent to June 30,2001. Also, the State's portion ofthe compensation paid In July and August 2001 was received and recorded as revenue In the fiscal year subsequent to June 30, 2001 Conversely, the Similar expenditures and related revenues for contractual seTVJces completed pnor to June 30, 2000, were recorded In the year ended June 30, 2001. Generally accepted accounting pnnclples reqwre that revenues be recorded when aVllllable and measurable and that expenditures be recorded when mcurred, rather than when funds are received or disbursed \r\n \r\nThe accrual basiS of accounting, as reqwred by generally accepted accountmg pnnclples, IS utlhzed by nonexpendable trust funds. Under the accrual basiS of accounting, revenues are recorded when earned and expenses are recorded at the time habJlities are mcurred. \r\n \r\nBUDGET \r\n \r\nThe City ofVidalia Board ofEducation's budget IS a complete finanCial plan for the School Dlstnct's fiscal year and IS based upon estunates of expenditures together With probable funding sources There IS no statutory prohibition regarding overexpenditure of the budgel at any level The budget \r\n \r\n- 12 - \r\n \r\n CITY OF VIDALIA BOARD OF EPUCATION - TOOMBS CQUNTY \r\nNOTES TO THE GENERAL-PlIRPOSE FINANCIAL STATEMENTS \r\nJUNE 30 200l \r\n \r\nEXHIBIT \"F\" \r\n \r\nNote 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nfor 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 pnnclples \r\nThe budget process begms when the School DiStrict'S adIlllIllstratlon prepares a tentative budget for the Board's approval After approval ofthiS 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 tentatlve 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 20-2-1 67(c), to the Georgia Department ofEducation The Board may Increase or decrease the budget at any time dunng the year AJI unexpended budget authonty lapses at fiscal year-end \r\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist ofcash on hand, demand depOSits and short-term Investments With ongmal matuntles of three months or less from the date of acqulSltlon In authonzed financial Instltutlons Georgia Laws OCGA 45-8-14 authonze the School Dlstnct to depOSIt Its funds In one or more solvent banks or InSUred Federal saVIngs and loan asSOCiations \r\nINVESTMENTS \r\nCOMPOSITION OF INVESTMENTS Investments made by the School District In nonpartIClpatmg interest-earnmg contracts (such as certificates ofdeposit) and repurchase agreements are reported at cost Participating Interest-earnIng contracts and money market Investments With a matunty at purchase ofone year or less are reported at amortized cost Both partiCipatIng Interest-earnmg contracts and money market mvestments with a matunty at purchase greater than one year and eqUity Investments are reported at fwr value The OffiCial Code of Georgia Annotated SectIon 36-83-4 authonzes the School DIstrict to Invest ItS funds In selectIng among options for investment or among InstItutional bIds for depOSits, the highest rate of return shall be the obJective, given equivalent condItions of safety and lIqUidIty Funds may be Invested In the follOWIng \r\n(I) OblIgatlons Issued by the State of Georgia or by other states, \r\n(2) ObligatIOns Issued by the Umted States government, \r\n(3) Obllgatlons fully insured or guaranteed by the Umted States government or a UnIted States government agency, \r\n(4) OblIgatlons of any corporation of the Umted States government, \r\n(5) Pnme banker's acceptances, \r\n- 13 - \r\n \r\n -CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTy NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30 2001 \r\n \r\nEXHIBIT \"F\" \r\n \r\nNote I SUMMARy OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\n(6) The Local Government Investment Pool admlmstered by the State of GeorgIa, Office of Treasury and Fiscal ServIces, \r\n \r\n(7) Repurchase agreements, and \r\n \r\n(8) OblIgatIons of other politIcal subdIVISIOns of the State of GeorgIa \r\n \r\nRECEIVABLES \r\n \r\nReceIvables COnsISt of grant reimbursements due on Federal, State or other grants for expendItures made but not reImbursed and other receivables dIsclosed from mformatIon avaIlable ReceIvables are recorded when either the asset or revenue recogmtIon cntena has been met ReceIvables recorded on the general-purpose finanCial statements do not mc1ude any amounts whIch would necessItate the need for an allowance for uncollectIble receIvables \r\n \r\nPROPERTY TAXES \r\n \r\nThe CIty ofVIdalIa fixed the property tax levy for the 2000 tax year (calendar year) on October 26, 2000 (levy date) Taxes were due on December 27, 2000 (lIen date) Taxes collected wltIun the current fiscal year or wltIun 60 days after year-end are reported as revenue In fiscal year 200 I The VIdalIa City Clerk bills and collects the property taxes for the School Dlstnct and remits the balance oftaxes collected to the School Dlstnct Property tax revenues dunng the fiscal year ended June 30, 2001 for mamtenance and operations amounted to $2,971,278 90 \r\n \r\nThe tax millage rate leVIed for the 2000 tax year (calendar year) for the City ofV.dalla Board of EducatIon was as follows (a mill equals $1 per thousand dollars of assessed value) \r\n \r\nSchool OperatIons \r\n \r\n14936 mIlls \r\n \r\nSALES TAXES \r\n \r\nSpec13l Purpose Local OptIon Sales Tax IS to be used for capita! outlay for educatIonal purposes and debt servIce Special Purpose Local Option Sales Tax revenue dunng the fiscal year amounted to $1,578,69933 and was recorded In the CapIta! Projects and Debt ServIce Funds The State Will temunate collectIOn oftIus tax once an addItIonal $5,322, I0043 has been collected or on March 3I, 2005, whIchever occurs first \r\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES Inventones of donated food commodItIes used m the preparatIon of meals are reported on the Combmed Balance Sheet at their Federally assigned value Purchased foods Inventones are reported on the Combmed Balance Sheet at cost (firSt-In, first-out) Donated food commoditIes are recorded \r\n \r\n- 14 - \r\n \r\n CITy OF VIDALIA BOARD OF EPUCAnON - TOOMBS COUNTy NOTES TO THE GENERALPURPOSE FINANCIAL STATEMENTS \r\nNNE302QQl \r\n \r\nEXI-llBIT \"F\" \r\n \r\nNote I. SUMMARY OF SIGNIFlCANT ACCOUNTING POLICIES \r\nas revenues and expendItures at the time commodIty items are receIved Purchased foods IDventones are recorded as expendItures at the time of purchase The Inventones reported on the balance sheet for donated food COmmOdItIes and for purchased foods are equally offset by reservatIons of fund balance wroch mdicates that these amounts do not ConstItute \"avlUlable spendable resources\" even though they are a component of net current assets \r\nGENERAL OBLIGATION BONDS \r\nThe School DIstrICt Issues general obligation bonds to proVIde funds for the acqUISItIOn and constructIon of major capital faCIlities Bond premiums and discounts, as well as Issuance costs, are recognIZed in the fInancIal statements dur10g the year bonds are Issued General obligation bonds are dIrect ob1Jgations and pledge the full faith and credit ofthe government The outstand1Og amount of these bonds IS recorded 10 the General Long-Term Debt Account Group \r\nINTERFUND TRANSACTIONS \r\nThe School DIstnct has the followmg types of 10terfund transactIons \r\nReimbunements ofexpenditures/expenses 10ltlally made from a fund that are properly applicable to another fund are recorded as expenditures/expenses 10 the relmburs10g fund and as reductIOns of expendItures/expenses In the fund that IS reImbursed \r\nOperating transfen are recorded for all interfund transaCtIons other than reimbursements \r\nMEMORANDUM ONLY - TOTAL COLUMNS \r\nTotal columns on the general-purpose fInanCial statements are capuoned \"Memorandum Only\" to Indicate that they are presented only to faCIlitate finanCIal analysis Data ill these columns do not present finanCial POSitIOn, results ofoperations or cash flows ID conformity WIth generally accepted account1Og pnncipies NeIther are such data comparable to a consohdatlon Interfund elimmations have not been made 10 the aggregatIOn of tlus data \r\nNote 2 DEPOSITS AND INVESTMENTS \r\nCOLLATERALIZATION OF DEPOSITS OffiCIal Code of GeorgIa Annotated (OCGA) SectIon 45-8-12 prOVIdes that there shall not be on depOSit at any time ID any depOSitory for a tIme longer than ten days a sum of money which has not been secured by surety bond, by guarantee oflDsurance, 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 percent ofthe public funds bemg secured after the deductIon ofthe amount ofdeposItlDsurance If a depOSItory elects the pooled method (OCGA 45-8-13 I) the aggregate ofthe market value ofthe \r\n \r\n- 15 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\nNOTES TO THE GENERALPURPOSE FINANCIAL STATEMENTS \r\nJUNE 30 2001 \r\n \r\nEXHIBIT \"F\" \r\n \r\nNote 2, DEPOSITS AND INVESTMENTS \r\nsecunties pledged to secure a pool ofpubhc funds shall be not less than 110 percent ofthe daJ.1ypool balance OCGA Secllon 45-8-1 1(b) prOVIdes an officer holdmg pubhc funds may, 10 hiS dIscretIon, WaIve the requIrement for secunty m the case ofoperating funds placed In demand depOSIt checkIng ,accounts \r\nAcceptable secunty for deposIts consists of anyone of or any combInallOn of the followmg \r\n(I) Surety bond Signed by a surety company duly quahfied and authonzed to transact busmess wltlun 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 mdebtedness or other obhgatIOns of the countIes or mUDlclpalllles of the State of Georgia, \r\n(5) Bonds of any pubhc authonty created by the laws of the State of Georgia, provldmg that the statute that created the authonty authonzed the use of the bonds for thiS purpose, \r\n(6) Industnal revenue bonds and bonds of development authontles created by the laws ofthe State of Georgia, and \r\n(7) Bonds, bills, notes, certIficates of Indebtedness, or other obhgatIODS of a subSIdIary corporatIon of the UnIted States government, whIch are fully guaranteed by the UnIted States government both as to pnnclpal and mterest 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 \r\nCATEGORIZATION OF DEPOSITS At June 30, 200 I, the bank balances were $3,337,677 27 The aIDounts ofthe total bank balances are claSSIfied Into three categones of credIt nsk \r\nCategory I - Cash that IS msured (e g , Federal depOSitory msurance) or collateralIzed WIth secuntles held by the School Dlstnct or by the School DistrIct's agent 10 the School Dlstnct's na.tne \r\nCategory 2 - Cash collateralized WIth secuntles held by the pledgIng finanCIal mstltution's trust department or agent m the School Dlstnct's name \r\nCategory 3 - UncollateraLtzed depOSIts (This Includes any bank balance that IS collateraIlZed With secuntles held by the pledgIng finanCial InStitution, or by ItS trust department or agent but not m the School Dlstnct's name ) \r\n- 16- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\nNOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30 2001 \r\n \r\nEXHIBIT \"F\" \r\n \r\nNote 2 DEPOSITS AND INVESTMENTS \r\n \r\nThe School Dlstnct's deposits are clasSIfied by risk category at June 30, 2001, as follows \r\n \r\nRisk Category \r\n \r\nBank Balance \r\n \r\nI \r\n \r\n$ 315,64881 \r\n \r\n2 \r\n \r\n2,822,02846 \r\n \r\n3 \r\n \r\n200,00000 \r\n \r\nTotal \r\n \r\n$ 3337.677 27 \r\n \r\nCATEGORIZATION OF INVESTMENTS At June 30,2001, the flllr value ofthe School Dlstnct's total mvestments was $91 68 and thiS entire amount COnsISted of common stock which was msured or regIstered, or secuntIes held by the School DiStrict or the School Dlstnct's agent In the School Dlstnct's name \r\n \r\nNote 3 NON-MONETARY TRANSACTIONS \r\n \r\nThe School Dlstnct receives food commodIties from the Umted States Department of Agriculture (USDA) for school breakfast and lunch programs These commodities are recorded at theIr Federally assigned value See Note 1 - Inventories \r\n \r\nNote 4 RISK MANAGEMENT \r\n \r\nThe School Dlstnct IS exposed to vanous nsks of loss related to torts, theft of, damage to, and destructIon of assets, errors or omiSSIOns, Job related Illness or InJunes to employees, natural dIsaster, unemployment compensatIon, and dental cllllms \r\n \r\nThe School DIstnct has obtlllned commercial msurance for nsk ofloss associated With torts, assets, errors or omiSSIOns, Job related Illness or injUrIes to employees and flood The School Dlstnct has neither SIgnIficantly reduced coverage for these nsks nor mcurred losses (settlements) which exceeded the School Dlstnct's msurance coverage m any ofthe past three years \r\nThe School Dlstnct has elected to self-Insure for all losses related to natural dIsaster, other than flood The School Dlstnct has not expenenced any losses related to these nsks m the past three years \r\n \r\nThe School Dlstnct IS self-insured With regard to unemployment compensatIOn claims The School DIstnct accounts for claims Wlthm the General Fund With expenditure and habIllty being reported when It IS probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated \r\n \r\nChanges In the unemployment compensatIon cllllffis hablhty durIng the last two fiscal years are as follows \r\n \r\n- 17 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\nNOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30 2001 \r\n \r\nEXHIBIT \"F\" \r\n \r\nNote 4 RISK MANAGEMENT \r\n \r\nBegmmng of Year LJ.abultv \r\n \r\nClaIms and Changes In EstImates \r\n \r\nCIBJDlS PaId \r\n \r\nEnd of Year LJablhtv \r\n \r\n2000 \r\n \r\n$ \r\n \r\n000 $ 3';88.00 $ 3';8800 $ \r\n \r\n000 \r\n \r\n2001 \r\n \r\n$ \r\n \r\n000 $ 246600 $ \r\n \r\n000 $ 2.46600 \r\n \r\nThe School Dlstnct IS self Insured WIth regard to employee and dependent dental chums ThiS program IS funded through a combmatlon of employer and employee contnbutlons Changes m dental claIms ilabllIty dUring the last two fiscal years are as follows \r\n \r\nBegmmng of Year Llablhn- \r\n \r\nCllIIJI1s and Changes In EstImates \r\n \r\nClaIms Paid \r\n \r\nEnd of Year LJablhn- \r\n \r\n2000 \r\n \r\n$ \r\n \r\n000 $ 110,63090 $ 110,63090 $ \r\n \r\n000 \r\n \r\n2001 \r\n \r\n$ \r\n \r\n0.00 $ 111.75549 $ 111.75549 $ \r\n \r\n000 \r\n \r\nThe School Dlstnct has purchased surety bonds to prOVIde additional msurance coverage as follows \r\n \r\nPosition Covered \r\n \r\nAmount \r\n \r\nSupenntendent Board Treasurer Board Vice-Treasurer All Employees \r\n \r\n$ 50,00000 $ 50,00000 $ 50,00000 $ 100,00000 \r\n \r\nNote 5. GENERAL LONG-TERM DEBT \r\n \r\nGENERAL OBLIGATION DEBT OUTSTANDING General OblIgation Bonds currently outstandmg are as follows \r\n \r\nPuroose \r\n \r\nInterest Rates \r\n \r\nAmount \r\n \r\nGeneral Government - Senes 1995 \r\n \r\n420%- 5 75% $ 321500000 \r\n \r\nThe changes m General Long-Term Debt dunng the fiscal year ended June 30, 2001, were as follows \r\n \r\n- 18 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\nNOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30 2oo! \r\n \r\nEXHIBIT \"F\" \r\n \r\nNote 5 GENERAL LONG-TERM DEBT \r\n \r\nGeneral Obhgatlon \r\nBonds \r\n \r\nBalance July I, 2000 \r\n \r\n$ 3,420,00000 \r\n \r\nDeductions Debt Retired \r\n \r\n20500000 \r\n \r\nBalance June 30, 2001 \r\n \r\n$ 321500000 \r\n \r\nAt June 30, 200 I, payments due by fiscal year which lDc1udes prmclpal and Interest for these Items are as follows \r\n \r\nFiscal Year Ended June 30 \r\n \r\nGeneral ObhgatlOn \r\nBonds \r\n \r\n2002 2003 2004 2005 2006 2007 - 2011 \r\n \r\n$ 408,78250 427, ISO 00 448,76750 468,31750 475,73000 \r\nI 971.72500 \r\n \r\nTotal Prmclpal and Interest \r\n \r\n$ 4200472 50 \r\n \r\nNote 6 ON-BEHALF PAYMENTS \r\n \r\nThe School DIstrict has recogrnzed revenues and expenditures lD the amount of $176,790 89 for health lDsurance and retirement contnbutlons paid on the School DIstnct's behalf by the followlDg State AgenCIes \r\n \r\nGeorgia Department of Education Paid to the Georgia Department of Commumty Health For Health Insurance of Non-Certified Personnel In the amount of$139,737 40 \r\n \r\nPaid to the Teachers Retirement System of GeorglB For Teachers Retirement System (TRS) Employer's Cost In the amount of $9,704 49 \r\n \r\n- 19 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\nNOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30 200 I \r\n \r\nEXHIBIT \"F\" \r\n \r\nNote 6 ON-BEHALF PAYMENTS \r\n \r\nOffice of Treasury and Fiscal ServIces PlUd to the Pubhc School Employees RetIrement System For PublIc School Employees RetIrement (PSERS) Employer's Cost In the amount of $27,349 00 \r\n \r\nNote 7, SIGNIFICANT COMMITMENTS \r\n \r\nThe followmg is an analySIS of Significant outstandmg constrllClJon or renovation contracts executed by the School Dlstnct as of June 30, 200 I \r\n \r\nPrlect \r\n \r\nUnearned Executed Contracts \r\n \r\nSallIe D Meadows - HVAC VidalIa High School- TrlUfUng and RecrealJonal FacIlities \r\n \r\n$ 64,12300 799,36648 \r\n \r\n$ 86348948 \r\n \r\nThe amounts descnbed in thiS note are not reflected m the general-purpose finanCial statements \r\n \r\nNote 8 CONTINGENT LIABILITIES \r\n \r\nAmounts received or receivable pnnclpally from the Federal government are subject to audIt and revIew by grantor agencIes ThiS could result m requests for reImbursement to the grantor agency for any expenditures whIch are disallowed under grant terms The School DistrIct beheves that such dISallowances, If any, Will be unmaterIaI to ItS overall finanCIal pOSItion \r\n \r\nThe School DistrIct IS a defendant m VarIOUS legal proceedmgs pertammg to matters mCldental to the performance ofroutine School DistrIct operalJons The ultunate dispOSItiOn ofthese proceedmgs IS not presently determmable, but IS not belIeved to be materIal to the general-purpose fmanclal statements \r\n \r\nNote 9 RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\n \r\nTRS PLAN DESCRIPTION Substantially all teachers, ad1Illlllslratlve and clerIcal personnel employed by local school dIstrIcts are covered by the Teachers Rellrement System of GeorgIa (TRS), which IS a cost-sharmg multiple employer defined benefit pension plan TRS proVIdes servIce retirement, dIsabIlIty retIrement and survIvors benefits for Its members m accordance With State statute The Teachers RetIrement System of GeorgIa Issues a separate stand alone finanCial audit report and a copy can be obtamed from the GeorgIa Department of Audits and Accounts \r\n \r\n- 20- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION TOOMBS COUNTY \r\nNOTES TO THE GENERALPURPOSE FINANCIAL STATEMENTS \r\nJUNE 30 2001 \r\n \r\nEXHIBIT \"F\" \r\n \r\nNote 9 RETIREMENT PLANS \r\n \r\nTRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe School Dlstnet who are covered by TRS are required by State statute to contnbute 5% of theIr gross earmngs to TRS The School DIMet 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 contnbutlon rate IS I I 29% and employer contnbullons for the current fiscal year and the preceding two fiscal years are as follows \r\n \r\nFIscal Year \r\n \r\nPercentage Contnbuted \r\n \r\nReqUITed Contn butlOn \r\n \r\n2001 2000 1999 \r\n \r\n100% 100% 100\"10 \r\n \r\n$ 1,031,072 93 $ 1,017,78853 $1,032,19362 \r\n \r\n- 21 - \r\n \r\n CITY OF ViDALIA BOARD OF EDUCATION. TOOMBS COUNTY COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 2001 \r\n \r\nASSEIS \r\nCash and Cash EqulV8lents \r\nInvestments \r\nAccounts RecelV8ble \r\nInventories Food Donated Commodities Purchased Food \r\nTotal Assets \r\nLIABILITIES AND FUND EQUITY \r\nL1ABILmES \r\nCash Overdraft Accounts Payable Salanas Payable Expired Grant Balances Payable Defarred Revenue \r\nTotal LlabJlrtles \r\nFUND EQUITY Fund Balances Reserved For Inventones Food Donated Commodrbes Purchased Food Unraserved UndBSlgnated Total Fund Equity \r\nTotal Uabllrbes and Fund EqUity \r\nSee notes to the genara~purposefinanCIal statements - 22- \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTIERY PROGRAMS \r\n \r\n$ \r\n \r\n176,92792 \r\n \r\n45,000 00 \r\n \r\n3,47123 $ \r\n \r\n29,37000 \r\n \r\n15,056 51 3,794 40 \r\n \r\n$ \r\n \r\n244,250 06 $ _~.:2;::9'::13~70::.oo~ \r\n \r\n$ \r\n \r\n29,37000 \r\n \r\n$ \r\n \r\n5,67570 \r\n \r\n23,517 64 \r\n \r\n$ \r\n \r\n29,39334 $ \r\n \r\n29,37000 \r\n \r\n$ \r\n \r\n15,056 51 \r\n \r\n3,79440 \r\n \r\n196,00581 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n214,856 72 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n244,250 06 S _ _..:2:9'::13;:;70~00;:.. \r\n \r\n EXHIBIT \"G\" \r\n \r\nFEDERAL \r\nPROGRAMS \r\n \r\nTOTALS \r\n \r\nJUNE 30, 2001 \r\n \r\nJUNE 30, 2000 \r\n \r\n$ \r\n \r\n176,92792 $ \r\n \r\n246,33780 \r\n \r\n45,000 00 \r\n \r\n$ \r\n \r\n417,29873 \r\n \r\n450,13996 \r\n \r\n218,52859 \r\n \r\n15,056 51 3,79440 \r\n \r\n10,87919 3,796 26 \r\n \r\n$ \r\n \r\n417,298 73 $ \r\n \r\n$ \r\n \r\n304,98808 $ \r\n \r\n334,358 08 $ \r\n \r\n121,33219 \r\n \r\n19,698 41 \r\n \r\n25,57411 \r\n \r\n25,43310 \r\n \r\n79,65123 \r\n \r\n103,168 87 \r\n \r\n96,41928 \r\n \r\n2,022 98 \r\n \r\n2,022 98 \r\n \r\n10,938 03 \r\n \r\n10,93803 \r\n \r\n$ \r\n \r\n417,298 73 $ \r\n \r\n476,06207 $ \r\n \r\n243,184 57 \r\n \r\n$ \r\n \r\n15,056 51 $ \r\n \r\n10,87919 \r\n \r\n3,794 40 \r\n \r\n3,796 26 \r\n \r\n$ \r\n \r\n---'0\"-\"'00... \r\n \r\n196,00581 \r\n \r\n221,681 82 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n214,856 72 $ _--,2\"\"36\"\"\",35\",7,-,2,,,7_ \r\n \r\n$ \r\n \r\n417,298 73 $ \r\n \r\n690,918 79 $ _.....;4:,:7,::9.::,54;:.1:..84::;:.. \r\n \r\n- 23- \r\n \r\n CITY OF YJpALIA BOARD OF EpUCATION - TOOMBS COUNTY COMBINING STATEMENT OF REVENUES, EXpENDITURES AND CHANGES IN FUND BALANCES \r\nSPECIAL REVENUE FUND YEAR ENDED JUNE 30 2001 \r\n \r\nREVENUES \r\nState Funds Federal Funds Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instrucbon Support SeMces Pupil Sel'VlC8S Improvement oflnstrucbonal Services General Admlnlstrauon School Admln,s1rabon Student Transportation Services Central Support Services Food SeMceS Operabon Communrty SeMces Operations \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expendrtures \r\nOTHER FINANCING SOURCES \r\nOperaung Transfers In \r\nExcess of Revenues and Other Flnancln9 Sources over (under) Expenditures \r\nFUND BALANCE JULY 1 \r\nFood Inventory - Net Chenge ,n Period Donated Commodrtles Purchased Food \r\nFUND BALANCE JUNE 30 \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\n$ \r\n \r\n67,690 00 $ \r\n \r\n577.50327 \r\n \r\n238,27573 \r\n \r\n$ \r\n \r\n883,46900 $ \r\n \r\n49,88000 49,88000 \r\n \r\n$ \r\n \r\n49,88000 \r\n \r\n$ \r\n \r\n909,14501 \r\n \r\n$ \r\n \r\n909.14501 $ \r\n \r\n$ \r\n \r\n-25.67601 $ \r\n \r\n49.88000 000 \r\n \r\n$ \r\n \r\n-25,67601 $ \r\n \r\n000 \r\n \r\n236,35727 \r\n \r\n000 \r\n \r\n4.17732 -166 \r\n \r\n$ \r\n \r\n214,856 72 $~_~.....l0~0~0~ \r\n \r\nSee notes to the genera~purpose finanCIal statements - 24- \r\n \r\n EXHIBIT \"H\" \r\n \r\nFEDERAL PROGRAMS \r\n \r\nTOTALS \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2001 \r\n \r\nJUNE 30, 2000 \r\n \r\n$ \r\n \r\n117,57000 $ \r\n \r\n130,42661 \r\n \r\n$ 1,056,424 94 \r\n \r\n1,633,92821 \r\n \r\n1,757,560 11 \r\n \r\n238,27573 \r\n \r\n221,00941 \r\n \r\n$ 1,056,424 94 $ 1,989,n394 $ 2,108,996 13 \r\n \r\n$ \r\n \r\n753,6n 80 $ \r\n \r\n803,55780 $ 1,067,48518 \r\n \r\n12,472 38 207,37623 \r\n67,896 22 7200 \r\n14,930 31 \r\n \r\n12,472 38 207,37623 \r\n67,896 22 7200 \r\n14,930 31 \r\n909,14501 \r\n \r\n18,495 40 145,32483 45,83544 \r\n5,598.27 38400 \r\n865,40647 4950 \r\n \r\nS 1,056,424 94 $ 2,015,449 95 $ 2,148,5n09 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n-25,67601 $ \r\n \r\n-39,580 98 \r\n \r\n1,050 07 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n-25,67601 S \r\n \r\n-38,53089 \r\n \r\n000 \r\n \r\n236,35727 \r\n \r\n283,02843 \r\n \r\n4,ln32 -186 \r\n \r\n-7,64767 -'19260 \r\n \r\ns \r\n \r\n000 $ \r\n \r\n214,856 72 $_....:2;:;36=,3;;:,57:.2~7_ \r\n \r\n- 25- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - IOOMBS COUNTY COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30. 2QQ1 \r\n \r\nASSETS Cash and Cash EqUivalents Accounts ReceIVable \r\nIotal Assets \r\nLIABILITIES AND FUND EQUITY L1ABILlIIES \r\nAccounts Payable Contracts Payable Retalnages Payable \r\nIotal LlabllrtlflS FUND EQUITY \r\nFund Balances Reserved For Purposes of Bond Issue For SPLOSI Projects Unreserved Undeslgnated Iotal Fund Equrty \r\nIotal Llabllrtles and Fund Equrty \r\n \r\nREGULAR \r\n \r\nBOND PROCEEDS \r\n \r\n$ \r\n \r\n33,0874Q $ \r\n \r\n168,534 87 \r\n \r\n$ \r\n \r\n$ \r\n \r\n17980 \r\n \r\n$ \r\n \r\n17980 \r\n \r\n$ \r\n \r\n168,355 07 \r\n \r\n$ \r\n \r\n33,0874Q \r\n \r\nOQQ \r\n \r\n$ \r\n \r\n33,08740 $ \r\n \r\n168,35507 \r\n \r\n$ \r\n \r\n33,087 40 $ _ _.:.:168~,534~~87:.. \r\n \r\nSee notes to the general-purpose financial statements \r\n- 26- \r\n \r\n EXHIBIT \"I\" \r\n \r\nSPECiAl PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nJUNE 30, 2001 \r\n \r\nJUNE 30, 2000 \r\n \r\n$ \r\n \r\n732,55945 $ \r\n \r\n934,181 72 $ \r\n \r\n281,47894 \r\n \r\n287,586 70 \r\n \r\n287,586 70 \r\n \r\n267,61207 \r\n \r\n$ \r\n \r\n1,221,768 42 $ _.....:54=9.:;:,09.::.1:.0::.1~ \r\n \r\n$ \r\n \r\n17980 \r\n \r\n$ \r\n \r\n179,84517 \r\n \r\n179,84517 \r\n \r\n39,234 85 \r\n \r\n39,234 85 \r\n \r\n$ \r\n \r\n219,080 02 $ _---'2\"'1\"'9.,.2..\"\"59\"\"\"'82... \r\n \r\n$ \r\n \r\n168,35507 $ \r\n \r\n210,02705 \r\n \r\n$ \r\n \r\n801,06613 \r\n \r\n801,066 13 \r\n \r\n297,291 56 \r\n \r\n000 \r\n \r\n33,08740 \r\n \r\n41 ,772 40 \r\n \r\n$ \r\n \r\n801,066 13 $ 1,002,508 60 $ _---'54=9\"\",09\",1'-0\"-1'-- \r\n \r\n$ 1,020,14615 $ 1,221 ?68 42 S ~...;:54~9:;\",0~9;,:,1_0.1.. \r\n \r\n- 27- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING STATEMENT OF RElfENUES EXPENDITURES AND CHANGES IN FUND BALANCES \r\nCAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 2001 \r\n \r\nREVENUES Taxes Other Funds Total Revenues \r\nEXPENDITURES Capital Outlay Lend and Land Improvements BUilding and BUildIng Improvements Total Expenditures \r\nExcess of Revenues over (under) Expendrtures OTHER FINANCING SOURCES (USES) \r\nOperating Transfers In Operabng Transfers Out \r\nTotal Other Flnanang Sources (Uses) Excess of Revenues and Other Financing Sources \r\nover (under) Expendrtures and Other Fmanang Usas FUND BALANCE JULY 1 \r\nFUND BALANCE JUNE 30 \r\n \r\nREGULAR \r\n \r\nBOND PROCEEDS \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n3,18323 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n3,18323 \r\n \r\n$ \r\n \r\n32,432 00 $ \r\n \r\n84,82591 \r\n \r\n$ \r\n \r\n117,25791 $ \r\n \r\n$ \r\n \r\n-117,25791 $ \r\n \r\n2,241 21 35,253 00 \r\n37,494 21 \r\n-34,31098 \r\n \r\n$ \r\n \r\n108,57291 \r\n \r\n$ \r\n \r\n$ \r\n \r\n108,57291 $ \r\n \r\n-7,36100 -7,381 00 \r\n \r\n$ \r\n \r\n-8,68500 $ \r\n \r\n-41,67198 \r\n \r\n41,772 40 \r\n \r\n210,02705 \r\n \r\n$ \r\n \r\n331087 40 $ _ _1.:.:6~8,;:,3:::;55~0.~7. \r\n \r\nSse notes to the genera~purpoS8finanCIal stataments - 28 \r\n \r\n EXHIBITJ\" \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2001 \r\n \r\nJUNE 30, 2000 \r\n \r\n$ 1,178,23616 $ 1,178,23616 $ \r\n \r\n19,72038 \r\n \r\n22,903 61 \r\n \r\n371,20024 11,47475 \r\n \r\n$ \r\n \r\n1,197,956 54 $ \r\n \r\nn 1,201,139 \r\n \r\n$ _---'38=2\"\",6\"'74~99::... \r\n \r\n$ \r\n \r\n17,29662 $ \r\n \r\n51,96983 \r\n \r\n687,611 85 \r\n \r\n807,690 76 $ _---'44=2....\"1\",44\"-,,,86,-- \r\n \r\n$ \r\n \r\n704,908 47 $ \r\n \r\n859,660 59 $ _---'44=2....,,1\"'44\"-86=. \r\n \r\n$ \r\n \r\n493,048 07 $ \r\n \r\n341,47918 $ _ _-\"\"59::..:,4\"\"6,,,-9,,,,87,-- \r\n \r\n$ \r\n \r\n10,726 50 $ \r\n \r\n119,299 41 $ \r\n \r\n34,000 00 \r\n \r\n-7,36100 \r\n \r\n$ \r\n \r\n10,726 50 $ \r\n \r\n111 ,938 41 $ \r\n \r\n34,000 00 \r\n \r\n$ \r\n \r\n503,77457 $ \r\n \r\n453,417 59 $ \r\n \r\n25,46987 \r\n \r\n297,29156 \r\n \r\n549,09101 \r\n \r\n574,560 88 \r\n \r\n$ \r\n \r\n801,06813 $ 1,002,508 60 $_.....:54=9..::,09:::,1.:..::.01:.. \r\n \r\n- 29 \r\n \r\n CIJY Of V10N.tA BOARD Of EpUCATION - TOOMBS CQUNIV COMBINING BALANCE SHEET pEBT SERVICE FUNp JUNE 30 2001 \r\n \r\nEXHIBIT \"K\" \r\n \r\n~ Cuh and Cuh Equtvalents \r\nLII\\BILIJIES ANp FUND EaylJY L1ABILIJIES \r\nAccounts Pa-Jable \r\n-FYNPEQYIJY Fund BaIancao For Dallt 5ervIca UlVllI8rved Unclaslgnated Total Fund Equity \r\nTotal L1ablhb.. and Fund Equity \r\n \r\nPROPER\"TY TAXES FOR BOND DEBT \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nJUNE 30, 2001 \r\n \r\nJUNE 30, 2000 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n15:64881 $ \r\n \r\n15.648 81 $ \r\n \r\n79500 \r\n \r\n$ \r\n \r\n79500 \r\n \r\n$ \r\n \r\n15,801881 $ \r\n \r\n15801881 \r\n \r\n$ \r\n \r\n000 \r\n \r\n000 \r\n \r\n000 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n15,801881 $ \r\n \r\n15,801881 $ \r\n \r\n000 \r\n \r\n$ \r\n \r\n000 $ \r\n \r\n15,84881 $ \r\n \r\n15,648 81 $ \r\n \r\n79500 \r\n \r\nsae notaa to tha ganaraj.purpOSB financial llalaili8nlS \r\n \r\n- 30 \r\n \r\n CITY OF VIDALIA BOARD QF EDUCATION TOOMBS COUNTY COMBINING STATEMENT OF RE'lENUES EXPENDITURES AND CHANGES IN FUNp BALANCES \r\npEBT SEBV1CE FUNp \r\nYEAR ENDED JuNE 30 2001 \r\n \r\nEXHIBIT \"\\.\" \r\n \r\nPROPERTY TAXES FOR BOND DEBT \r\n \r\nSPECIAL PURPOSE LOCAl OPTION SAlES TAX \r\n \r\nTOTAlS \r\n \r\nYEARENOED \r\n \r\nJUNE 30 2001 \r\n \r\nJUNE 30 2000 \r\n \r\nRF\\lENu ES \r\n \r\nTaxes Other Funds \r\nTotalReveooes \r\n \r\nS \r\n \r\n400,06317 S \r\n \r\n400,06317 \r\n \r\nS \r\n \r\n196 98 \r\n \r\n4,852 99 \r\n \r\n5,04997 S \r\n \r\n000 \r\n \r\nS \r\n \r\n196 9B S \r\n \r\n405,31616 S \r\n \r\n405,51314 S \r\n \r\n000 \r\n \r\nEXl'EHDlJURES \r\n-Debt 5eMce Pnnapal PayIng Agent Foes Total ExpendJ..... \r\nExcess 01 Revenues ave\u003c (under) Elq\u003eendrtures \r\n \r\nS \r\n \r\n205,000 00 \r\n \r\n1B3,n500 \r\n \r\n79500 S \r\n \r\nS \r\n \r\n389,520 00 S \r\n \r\nS -389,323 02 S \r\n \r\nS 000 000 S 405,31616 S \r\n \r\n205 000 00 S 183,n500 \r\n79500 \r\n389520 00 S \r\n15,99314 S \r\n \r\n180,000 00 192,27500 \r\n79500 \r\n37307000 \r\n-373,07000 \r\n \r\nOTHER FINANCING SOuRCES 'uSES) \r\n \r\nO_ng TranoIeIw In QporotJng Tranotel1l Out \r\nTotal Other Fl!UIllCIng Sources (U....) \r\n \r\nS \r\n \r\n38966735 \r\n \r\nS \r\n \r\n389,66735 S \r\n \r\n372,61933 \r\n \r\n-344 33 S -38966735 \r\n \r\n-390,0116B \r\n \r\nS \r\n \r\n389,323 02 S -389,66735 S \r\n \r\n-34433 S \r\n \r\n372,61933 \r\n \r\nExceaa of Revenues and Other Flnanc:mg Sources \r\nr:NfIT (under) Expenditl.nl:s and Other Einanang Uses S \r\nfUND BALANCE JuLY 1 \r\n \r\n000 S 000 \r\n \r\n15,648 81 S 000 \r\n \r\n1564881 S 000 \r\n \r\n-45067 45967 \r\n \r\nFuND BALANCE JUNE 30 \r\n \r\nS \r\n \r\n000 S \r\n \r\n15:64881 S \r\n \r\n15 64881 1 \r\n \r\nS \r\n \r\n000 \r\n \r\nSee notes to the ~-purpceefinanaal stotements \r\n \r\n- 31 - \r\n \r\n CITY OF VU?ALIA BOARD DF EDUCATION - TOOMBS COUNTY SCHEPULE OF EXPENPlTURES OF FEDERAL AWARDS YEAR ENDED JUNE 3Q 2QQl \r\n \r\nSCHEDULE .,. \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\nAgncuhure, U S Department of Child Nutnbon Cluater P...-Through From Georgia Department of Education Food and Nutrition Program Food services School Breakfast Program Nabonal SChool Lunch Program \r\nTotal Child Nutr1tIon Cluslar \r\nOther Programs Pa....Through From Georg.. Departmant of Education Food and Nutrttlon Program Food P,strlbuhon Program (1) Pass-Through From Ollioa of SChool Raadlnass Food and Nutnbon Program \r\nChid and Adult care Food Program \r\nTotal U S Department 01 Agriculture \r\nEducallon, U S Depa_ 01 Special Education Cluster Pass-Through From Georgia Department 01 Education IndrvlduaJs wtth DlsabiltiBs Education Act Part B  Special EducaUon \r\n_001CBpacity Building Improvement \r\nFlow Through \r\nTotal SPecial Education Cluslar \r\nOther Programs PaS8-Through From Georg.. Depam-.! of Education Comprehenstve SChool Refonn DemonstratIOn Elementary Ind secondary EducaUon Act TItiB I Administrative Site Evaluation Gran1s to Local Educa1lonal AgencIoo TItiB \" EJsenhOWOf Professk,\"al Development 11tIo III Technology Lrteracy Challanga Fund Grants 11tIo VI ImovatNe Educabon Program Strategies Class SIZe Reduetlon Voca1:IolUIl Education - RilLe Grantl to States H'llh SChool Program Basic Grant \r\nTotal U 5 Departrnant of EdUcation \r\n \r\nCEDA NUMBER \r\n \r\nPASSTHROUGH \r\nEtmTY ID \r\nNUMBER \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\nlQ 553 lQ s:l5 \r\n \r\nNJA \r\n \r\nS 102,174 \u00264 \r\n \r\nNJA \r\n \r\n415,36937 S \r\n \r\nS 517,5 21 S \r\n \r\n(2) 851 729 99 (3) \r\n851,721199 \r\n \r\nlQ 8SC lQ 588 \r\n \r\nNJA \r\n \r\n57415Q2 \r\n \r\n87,41502 \r\n \r\nNJA \r\n \r\n2,544 04 \r\n \r\nS 8n,50327 S \r\n \r\n(2) 909,145 Ql \r\n \r\n\u00264173 \u00264027 \u00264173 \r\n \r\nNJA \r\n \r\nS \r\n \r\n6,17Q 00 S \r\n \r\nNJA \r\n \r\n111,94912 \r\n \r\nNJA \r\n \r\n11,47500 \r\n \r\nS 129,594 12 S \r\n \r\n6,17QOO 111,94912 \r\n1147500 \r\n129594 12 \r\n \r\n\u00264 332 \r\n\u00264 Q1Q \u00264 Q1Q \u00264 281 \u00264 318 \u00264298 \u00264 340 \r\n84048 \r\n \r\nNJA \r\n \r\n82,QI200 \r\n \r\n52,QI200 \r\n \r\nNJA \r\n \r\n430000 \r\n \r\n4,300 DO \r\n \r\nNJA \r\n \r\n598,961 03 \r\n \r\n598,961 Q3 \r\n \r\nNJA \r\n \r\n531233 \r\n \r\n831233 \r\n \r\nNJA \r\n \r\n132,28283 \r\n \r\n132 262 83 \r\n \r\nNlA \r\n \r\n1995463 \r\n \r\n19,954 63 \r\n \r\nNlA \r\n \r\n86 910 00 \r\n \r\n86,91Q 00 \r\n \r\nNlA \r\n \r\n2711800 \r\n \r\n27,11800 \r\n \r\nS 1,Q86 424 94 S 1,Q86,424 94 \r\n \r\nTotal Foderal Financial_lance N1A a Not AVlllabie \r\n \r\n- 32- \r\n \r\nS 1,833,92821 S \r\n \r\n CITY OF ViDALIA BOARD OF EDlICATlPN - TOOMBS COUNTY SCHEDULE OF EXPENplTURES OF FEpERAL AWARDS \r\nYEAR ENDED JUNE 30 2001 \r\n \r\nSCHEDULE \"1\" \r\n \r\nNote, to the Schedule of EYMndrtvres of Federal Awards \r\n(1) The amounts shown lor the Food OIoIr1butlon Program _ n t s the Fedorally \"''lIned val... of nonmonetary aaalstance for donated commoclttiea receHed and/or conaumed by the system during the ament fiscal year \r\n(2) Expendllt.ros for the Chid and Adult eore Food ProQram and the School Breoklaot Progrem wore not manta\"od separately and are Induded In the 2001 Natklnal Sd\\oollooch Program \r\n(3) Expendlturoslor this program Includo Slata, and/or Other Funds Expendlturos are not maintained by lund source \r\nMaJOr Programs are identtfied by an .ateri:ak r) In front of the CFDA number \r\nThe School DIstricl dod not prollkla Foderal Aaalalance to any Subraclplent \r\nThe accompanying schodula of expenditures of Foderal awards ,ncIudas the Foderal grant aCllvtly of the CIty of Vidalia Board of Educabon and IS presented on the modified accrual basis of accountmg which Is the basis of accountmg usad In the pre_bon of the goneral-plOJlOO8 finanaal stalamant5 \r\n \r\nsee notes to tho goneral-purpoae ftnanclal statamants \r\n \r\n- 33- \r\n \r\n CITY Of YIlJlll.IA BOARQ Of EDUCATION - TOOMBS COUNTY SCHEDuLE Of STATE REVENUE \r\nYEAR ENDED JUNE 30 2001 \r\n \r\nSCHEDULE \"2\" \r\n \r\nAGENCYIFUNDING \r\n \r\nGRANTS \r\n \r\nEducation. Georgia Deportment 01 0ualIty BaoIc EdUC81lon Dlled IllIlnlCb0n81 COal Kindergarten Program \r\n \r\n1_ \r\n \r\nKindergarten Program - Early \r\n \r\nProgram \r\n \r\nPrimary G.-a (1-3) Program \r\nPr1mary Grades - Early InteMll1tlon (1-3) Program Upper Elementary Gradee (4-5) Program \r\n \r\nMiddle 5chooI (\u0026-8) Program \r\n \r\nHigh 5chooI Genenli Education (9-12) Progrem \r\n \r\nVoca1ionIlll.eboretory (9-12) Program \r\n \r\nStudents WIth DIsebiIItles Cetegory I \r\n \r\nCetegory \" Cetegory III \r\n \r\nCo1egory IV \r\n \r\n_I GIfted Student - Cetegory VI \r\nRemedlel EducetIon Program A!IemathIe Educetlon Program Modla Center Program \r\n \r\nS1afI end \r\n \r\nDevelopment \r\n \r\nindirect Coe1 cetegorical Grants \r\nPupil Trensportabon \r\n \r\nReguler Bus Replacement N..mg 5enitces \r\nPrlIlQl\u003elll SuppIemenlz \r\nVocobonaJ SupervIsors Educabon Equalization FundIng Grent Food 5enIk:8I VocaboneJ Education \r\n \r\nOther Stele Progrems Health InalX8J1C8 ImovabYe Programs \r\n \r\nMentor Teachere Presdulol Hendlcapped Program Bemedlel Surrrne\u003c 5chooI Teachere' Retrement L.otlery Programs \r\n \r\nComputers In the Cleaeroom \r\n \r\nOtIIce 01 the ao-nor \r\nChIldren and Youth CoonlInating Coonal \r\nOASISGrenl \r\n \r\nOffice of Trvaaury and FI:acaI 5e:MceI PublIC 5chooI Empi~ _ \r\n \r\nCONTRACTS Education. Georgia Department 01 Georgia\" Readng Challenge Reading First Program \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\nS _36000 \r\n93.19100 1.179.11900 \r\n485,T89 00 749.707 00 1.489.509 00 1.212,280 00 4n.896 00 \r\n37.052 00 215.44500 439.333 00 \r\n96.34000 \r\n~.45400 \r\n126.859 00 116.592 00 226.79800 57.427 00 1.4~.859 00 \r\n \r\nS \r\n \r\n_,36000 \r\n \r\n93.191 00 \r\n \r\n1.17811800 \r\n \r\n485.789 00 \r\n \r\n749.70700 \r\n \r\n1.489.509 00 \r\n \r\n1.212,280 00 \r\n \r\n4n 696 00 \r\n \r\n37.052 00 21544500 \r\n439.33300 96,340 00 \r\n~45400 128.~900 \r\n118.592 00 226 798 00 \r\n57.427 00 \r\n1.~.85900 \r\n \r\n142.~00 \r\n37.4901 00 63.523 00 \r\n9.87500 18.698 00 \u0026404.392 00 \r\nS \r\n48.72409 \r\n \r\n67.890 00 \r\n \r\n139.73740 5,00000 2.282 00 \r\n32.069 00 3.08888 9.7Ool48 \r\n \r\n4988000 \r\n \r\n142,56500 374901 00 63 523 00 \r\n9.67500 18,698 00 \u0026404 392 00 67.69000 49.72409 \r\n139.73740 5,00000 2.28200 \r\n32 069 00 3.08888 970449 \r\n49.880 00 \r\n \r\n32.038.29 27.34900 \r\n \r\n32.038.29 27.34900 \r\n \r\n29.43000 22.50100 \r\n \r\n29,430 00 22,501 00 \r\n \r\nSee notes 10 the genaraI-purpooe tlnanaal'ta1amentI \r\n \r\nS 10:251:860 15 S 117.57000 S 10,369 430 15 \r\n- 34- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF APPROVED LOCAL OPTION SALES TAX pROJECTS \r\nYEAR ENDED JUNE 30 2001 \r\n \r\nSCHEDULE \"3\" \r\n \r\nPROJECT \r\n \r\nORIGINAL ESTIMATED \r\nCOST (1) \r\n \r\nCURRENT ESTIMATED COSTS (2) \r\n \r\nAMOUNT EXPENDED IN CURRENT YEAR (3) \r\n \r\nAMOUNT EXPENDED IN PRIOR YEARS (3) \r\n \r\nPROJECT STATUS \r\n \r\nRetlrement of the SChool Dlstncfs \r\n \r\nCrty of Vidalia General Obllga~on BondB, \r\n \r\nseries 1995, In the maxlnlum amount \r\n \r\nof $4,276,602 60 \r\n \r\nS 4,276,60260 S 4,276,60260 $ \r\n \r\n389,520 DO \r\n \r\nOngOtng \r\n \r\nDevelopment of IralnlllQ and reaeatJonal \r\nfaalrtles al Videllill High SdlOoIIn the maximum amounl of $1,006,73960 \r\n \r\n1,006,739 60 \r\n \r\n1,006,73960 \r\n \r\n410,709 25 \r\n \r\nOngotng \r\n \r\nRenovallOf1 of J D DICkerson SChool and Sally Meatdows SChool In the ma\u003e\u003cmum amounl of $640,15781 \r\n \r\n640,15781 \r\n \r\n640,15781 \r\n \r\n294,199 22 $ 63,18218 Ongomg \r\n \r\nConstrucbon of sCIence and technology taboratones al Vidalaa High SchooJ In the ITllIXIIlltJm amounl of $500,000 00 \r\n \r\n500,000 DO \r\n \r\n500 000 00 \r\n \r\nOngoing \r\n \r\nConstruclKln of JOInt footbaU stad,um with Toombs County Board of Educa1Kln In the m8XImum amount of $1 ,000 DOD 00 \r\n \r\n1,000 000 DO \r\n \r\n1,000,000 DO \r\n \r\nOngotng \r\n \r\n$ 7423,50001 $ 7,42350001 $ 1,094,42847 $ 63182 18 \r\n \r\n(1) The SChool Dlslnct'a ong,nal cosl esllmale as spealied ,n the rasoIutJon calang for the ImposrtlOIl of the Local OptIon \r\nSales Tax \r\n(2) The School District's current estimate of total cost tor the proJeds Includes aD cost from proted: Inception to comp!ebon \r\n(3) The voters of Toombs County approved the ImposrtlOll of a 1% sales tax 10 fund the above proJacts Amounts expended for theSe proj8cts may Include saleB tax proceeds Blale, local property taxes and/or other funds over the bfe of the Protects \r\n \r\nSee notes to the general-purpose finanaat statements \r\n \r\n- 35- \r\n \r\n CITY OF YJQALIA BOARD OF EptJCATIQN  TOOMBS COUNTY \r\nGENERAL FUNQ - QUALITY BASIC E[)UCATIDN pROGRAM (aBE) \r\nALLOTMENTS AND EXPENDITURES BY PROGRAM \r\nYEAR ENDED JUNE 30 2001 \r\n \r\nSCHEDUUE .~. \r\n \r\nDESCRIPTION \r\nDirect Instructional Programs Ktndergarten Program KJndergarten Program-Early Intervention Program Primary Grade. (1-3) Program PrimlllY Grades-Early IntorventJCm (1-3) Program Upper Elementary Grade. (4-5) Program Middle Grade. (6-8) Program MIddle School (6-8) Program High School General Education (9-12) Program VocaUonaI Laboratory (9-12) Program Students with Dlsabllltle. category I category II category III category IV Gifted Studant - category VI Remedial EducaUon Program Alternallve EducaUon Program \r\nTOTAL DIRECT INSTRUCTIONAL PROGRAMS \r\nMedia Center Program SIB1Iand ProIosBklnal DevelOPment \r\n \r\nALLOTMENTS FROM GEORGIA DEPARTMENT OF \r\nEDUCATION (1) \r\n \r\nELIGIBLE aBE PROGRAM COSTS \r\n \r\nSALARIES \r\n \r\nOPERATIONS \r\n \r\nTOTAL \r\n \r\nS \r\n \r\n516,66700 S _66162 S \r\n \r\n23M5~5 S \r\n \r\n510,50707 \r\n \r\n1~,669 00 \r\n \r\n122..404692 \r\n \r\n122,_92 \r\n \r\n1,322,21600 1,070,31070 \r\n \r\n69,570 ~5 \r\n \r\n1,139,66116 \r\n \r\n545,20700 \r\n \r\n~7~ 692 36 \r\n \r\n~7~,692 36 \r\n \r\nMl,~500 \r\n \r\n92619300 \r\n \r\n37591 71 \r\n \r\n963,7M 71 \r\n \r\n1,725,353 13 \r\n \r\n~9,201 ~ \r\n \r\n1 77~,555 07 \r\n \r\n1,M9,24600 \r\n \r\n1,360,55500 1,456,210 71 \r\n \r\n99,62997 \r\n \r\n1,556~66 \r\n \r\n536.123 DO \r\n \r\n~66,~ 16 \r\n \r\n44,551 ~7 \r\n \r\n532,91565 \r\n \r\n664.572 DO \r\n \r\n1~9 610 51 \r\n \r\n341252 \r\n \r\n15302303 \r\n \r\n312 91~ 16 \r\n \r\n4,117 13 \r\n \r\n317 031 31 \r\n \r\n261,196 81 \r\n \r\n9,311 70 \r\n \r\n270,51051 \r\n \r\n~9,~3O \r\n \r\n1,~65 \r\n \r\n51,304 95 \r\n \r\n83,358 00 \r\n \r\n115,296 25 \r\n \r\n2,63292 \r\n \r\n116,13117 \r\n \r\n142,37500 \r\n \r\n190,366 24 \r\n \r\n2,20741 \r\n \r\n19257365 \r\n \r\n130,663 00 \r\n \r\n150,21526 \r\n \r\n1.54H6 \r\n \r\n151,75674 \r\n \r\nS \r\n \r\n8,097,185 00 S 7,98ll.1~ 19 S 349,21678 S 8,329,356 97 \r\n \r\n254.539 DO M,45ODO \r\n \r\n305,093 63 ~2 508 96 \r\n \r\n63,~ 17 22,317 63 \r\n \r\n36613780 M82651 \r\n \r\nTOTAL aBE FORMULA FUNDS \r\n \r\ns \r\n \r\n8,416154 DO S 6,327.74260 S 434 576 46 S 6,762,321 26 \r\n \r\n(1) Compnoed of State Funds plus Local Five Mill Snare \r\n \r\nSee notel to the genera~ ftnendal statements \r\n \r\n-36- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY GENERAL FUND - qUALITY BASIC EDUCATION PROGRAM caBEl \r\nALLOTMENTS AND EXPENDITURES - BY SITE YEAR ENDED JUNE 30. 2001 \r\n \r\nSCHEDULE \"5\" \r\n \r\nJ R Tnppe Middle School Vidalia ComprehenSive High School J D Dickerson Pnmary School Sally Dalley Meadows Elemen1ary School Altema1lV8 School Program Central Office (Memabve Educabon Program) \r\nTOTAL \r\n(1) Comprised of State Funds plus Local Five Mill Share \r\n \r\nALLOTMENTS FROM GEORGIA DEPARTMENT OF EDUCATION (1) \r\n \r\nELIGIBLE aBE PROGRAM COSTS \r\n \r\n$ \r\n \r\n1,904,974 00 $ \r\n \r\n2,063,051 48 \r\n \r\n2,184,48000 \r\n \r\n2,487,98212 \r\n \r\n1,950,626 00 \r\n \r\n1,669,731 63 \r\n \r\n1,926,232 00 \r\n \r\n1,655,084 25 \r\n \r\n53,50749 \r\n \r\n130,85300 \r\n \r\n$ \r\n \r\n8,097,16500 $ ~...::8:::,3~29~,3::;;56~97!.. \r\n \r\nSee notes to the genera~purpose finanCial statements - 37- \r\n \r\n SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS \r\n \r\n RL\\.\"Itll \\\\'. \"I\"\"TO'\" STATE AUD1TQfl \r\n(.().I) 656-2'7~ \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 W.,hmglOn Slfeel. S W. SUlle 214 AII.nl Georgia 30334K400 \r\nJune 10, 2002 \r\n \r\nHonorable Roy E Barnes, Governor Members of the General Assembly Members of the State Board ofEducauon \r\nand Supenntendent and Members of the City of Vidalia Board ofEducauon \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANPARDS \r\nLadJes and Gentlemen \r\nWe have audJted the finanCial statements ofCity ofVldaha Board ofEducauon as of and for the year ended June 30, 2001, and have Issued our report thereon dated June 10, 2002 TIus report was qualIfied for vanous departures from generally accepted accounung pnnclples, as Identlfied m the audJtor's report on the general-purpose finanCial statements We conducted our audit m accordance With audlung standards generally accepted m the Umted States of Amenca and the standards apphcable to finanCial audits contamed m Government Auditing Standards, ISSUed by the Comptroller General of the Umted States \r\nComphance \r\nAs part of obtammg reasonable assurance about whether City of Vidallll Board of Education's finanCIal statements are free of rnatenal misstatement, we performed tests of ItS comphance With certam proViSions oflaws, regulatlons, contracts and grants, noncomphance With wluch could have a direct and matenal effect on the detenmnauon of financial statement amounts However, proVldmg an 0plmon on comphance With those proVisIOns was not an ob]eeuve of our audit, and accordJngly, we do not express such an 0plmon The results of our tests dJsclosed no mstances of noncomphance that are reqUired to be reported under Government Audltmg Standards \r\nInternal Control Over FinanCial Reportmg \r\nIn planmng and perfonrung our audJt, we conSidered City of Vidalia Board ofEducauon's mternal control over finanCial reportmg m order to detemnne our audlung procedures for the purpose of expressmg our 0plmon on the finanCial statements and not to proVide assurance on the mternaJ \r\n2001YB-40 \r\n \r\n control over finanCial reportIng However, we noted certalD matters IDvolvlDg the IDternal control over finanCial reportmg and Its operation that we consider to be reportable conditions Reportable conditions mvolve matters commg to our attention relating to slgruficant deficiencies ID the design or operation ofthe IDternal control over financial reportIng that, m our JUdgment, could adversely affect City of VidalIa Board of Education's abihty to record, process, summanze and report finanCial data consistent With assertions of management In the finanCial statements Reportable condIt1ons are descnbed ID the accompanymg Schedule ofFlDdIngs and Questioned Costs as Items FS-7931-01-0 I and FS-793 1-01-02 \r\nA matenal weakness IS a condition In which the deSign or operation of one or more of the IDternal control components does not reduce to a relatively low level the nsk that /DIsstatements ID amounts that would be matenal In relation to the financilil statements bemg audited may occur and not be detected Within a timely penod by employees In the normal course of perforrrnng their assigned functions Our consideration of the IDtemal control over finanCial reporting would not necessanly disclose all matters ID the IDternal control that /DIght be reportable conditiOns and, accordmgly, would not necessanly disclose all reportable conditions that are also considered to be matenal weaknesses However, of the reportable conditions descnbed above, we conSider Item FS-793 1-01-02 to be a matenal weakness \r\nThis report IS Intended solely for the Information and use ofthe management, members ofthe City of Vidalia Board ofEducation, Federal awardmg agencies and pass-through entitles and IS not IDtended to be and should not be used by anyone other than these specified parties \r\n.-_R~espectfully sub/DItted, \r\n \r\nRWHas 2001YB-40 \r\n \r\nRu ell W Hinton Sta e Auditor \r\n \r\n RI \"\"II W. \"\"'0' STA.TE AUDITOR \\4t)A,) 6~~17\" \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 \\\\',j\\hmgLOn SlrccL, ~ W. Suite 214 \r\nAI'\"\"la, Georgia 30334I!4(XI \r\nJune 10,2002 \r\n \r\nHonorable Roy E Barnes, Governor Members of the General Assembly Members of the State Board ofEducauon \r\nand Supenntendent and Members of the City ofVldaha Board ofEducauon \r\nREPORT ON COMPLIANCE WITH REOUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMS CIRCULAR A-I 33 \r\nLadIes and Gentlemen \r\nComohance \r\nWe have audited the comphance of City ofVidaha Board ofEducation WIth the types ofcomplIance requIrements descnbed m the US Office oj Management and Budget (OMB) Circular A-133 Compliance Supplement that are applIcable to each ofItS major Federal programs for the year ended June 30, 2001 City of Vidalia Board of Educauon's major Federal programs are Idenufied m the Summary of AudItor's Results Section of the accompanymg Schedule of Fmdmgs and Questioned Costs ComplIance WIth the requirements oflaws, regulations, contracts and grants applIcable to each of Its major Federal programs IS the responslbJlIty of City of Vidalia Board of Education's management Our responsibility IS to express an oplluon on City of VIdalia Board of Education's complIance based on our audit \r\nWe conducted our audIt of complIance m accordance WIth audltmg standards generally accepted m the Uruted States of Amenca, the standards applIcable to finanCial audits contamed m Government Audltmg Standards, Issued by the Comptroller General of the Uruted States, and OMS CIrcular A133, Audits oj States, Local Govemments, and Non-Profit OrgamzatlOns Those standards and OMS Circular A-133 reqUire that we plan and perform the audIt to obtam reasonable assurance about whether noncomplIance WIth the types ofcomplIance requirements referred to above that could have a direct and matenal effect on a major Federal program occurred An audIt mcludes eXamIrung, on a test baSIS, eVIdence about the City of Vidalia Board of Education's complIance WIth those reqUirements and performmg such other procedures as we considered necessary m the CIrcumstances We belIeve that our audit proVIdes a reasonable basiS for our 0pllllon Our audIt does not proVIde a legal determmatIon on City of VidalIa Board of Education's complIance WIth those reqUirements \r\n200ISA-1O \r\n \r\n In our opmlOn, the City of Vidalia Board of Education complIed, m all matenal respects, WIth the requirements referred to above that are apphcable to each of ItS major Federal programs for the year ended June 30, 2001 \r\nInternal Control Over Comphance \r\nThe management of City ofVidalia Board ofEducatIOn IS responsible for estabhshmg and mamtammg effective mternal control over comphance WIth requirements oflaws, regulations, contracts and grants apphcable to Federal programs In planmng and performmg our audit, we considered City ofVldaha Board ofEducation's mternal control over comphance WIth reqUIrements that could have a cbrect and matenal effect on a major Federal program m order to deterrmne our aucbtlng procedures for the purpose of expressmg our 0plmon on complIance and to test and report on mternal control over comphance m accordance WIth OMB CIrcular A-I33 \r\nOur consideratIOn ofthe mternal control over comphance would not necessanly dIsclose all matters 10 the mternal control that lIllght be matenal weaknesses A matenal weakness IS a condition In wluch the deSign or operation of one or more of the Interna1 control components does not reduce to a relatively low level of nsk that noncomphance WIth apphcable reqUIrements of laws, regulations, contracts and grants that would be matenal m relation to a major Federal program bemg aucbted may occur and not be detected Wlthm a timely penod by employees m the normal course of perforllllng theIr assIgned functions We noted no matters mvolVIng the mternal control over comphance and ItS operation that we consider to be matenal weaknesses \r\nTlus report IS mtended solely for the Information and use ofthe management, members ofthe CIty of Vidalia Board ofEducation, Federal awardmg agenCies and pass-through entities and IS not mtended to be and should not be used by anyone other than these specified parnes \r\n.----r ectfully sublllltted, \r\nLl):4~ \r\nRussell W HInton State AudItor \r\nRWHas 200ISA-IO \r\n \r\n SECTION III AUDlTEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND OUESTIONED COSTS YEAR ENDED JUNE 30. 2001 \r\n \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND OUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\nFS-7931-98-01 FS-7931-99-02 FS-7931-00-0 I \r\n \r\nPreVIOUSly Reported CorrectIve Action Implemented Further ActIon Not Warranted Unresolved - See CorrectIve Action/Responses \r\n \r\nCORRECTIVE ACTIONIRESPONSES \r\n \r\nGENERAL FIXED ASSETS Failure to Mamtam General FIXed Assets Account Group Fmchng Control Number FS-793 1-00-0 I \r\n \r\nDue to current staffing hnntatlons and budgetary considerations prohlbJtmg the hmng of additIonal staff, the School DIStrIct bas decided not to pursue the recordmg of General FIXed Assets on the finanCIal statements The cost assOCiation With the procedme prolub1ts our system from ehnnnatmg thIS long eXlStmg findmg \r\n \r\n SECTION IV FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\nSCHEDULE OF FINDINGS AND OUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 2001 \r\n \r\nI SUMMARy OF AUDITOR'S RESULTS \r\n \r\nType ofRe.port Issued on the Fmancta! Statements The audrtor's opmlOn on the City of Vuiaha Board of EducatlOn's financIal statements was qualified for vanous departures from generally accepted accountmg pnnclples \r\n \r\n2 Reportable CondItIOns m Internal Control DISclosed by the AudIt of the Fmanclal Statements The audIt report for the City of VIdalia Board of EducatIon disclosed finanCial statement reportable condItions related to the folloWIng control categones \r\n \r\nCash and Cash Equivalents \r\n \r\nGeneral FIXed Assets \r\n \r\nOf the reportable condrtlOns descnbed above, General FIXed Assets IS considered to be a materIal weakness \r\n \r\n3 Noncompllllllce Matena! to the Fmanclal Statements The audIt ofthe City ofVlda!Ill Board ofEducation disclosed no 1llStances ofnoncornphance that were deemed to be materIal to the financIal statements \r\n \r\n4 Reportable CondItions m Internal Control Over MaJor Programs The audIt report for the City of VIdalia Board of EducatIOn dId not disclose any reportable condItions m mternal control over major programs \r\n \r\n5 Type ofRe.port Issued on Comphance for MaJor Programs The audrtor's opmlon on the CIty ofVlda!Ill Board of Education's report on cornpllllllce WIth requrrements applIcable to major programs was unqualified \r\n \r\n6 AudIt Fmdmgs ReqUIred to be Reported by Section 510la) of OMB CIrcular A-133 The City of Vidalia Board of EducatIOn's audrt dId not disclose audIt findIngs requIred to be reported by sectIon 510(a) ofOMB CIrCular A-133 \r\n \r\n7 Malor Programs Federal awards audrted as major programs are as follows 10 553 Food and Nutntlon Program - Food SeTVIces - School Breakfast Program 10 555 Food and Nutntlon Program - Food SeTVICes - NatIOnal School Lunch Program \r\n \r\n8 Type \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000 00 \r\n \r\n9 Low RISk Audrtee The City of Vidalia Board of EducatIOn qualified as a low nsk audrtee based on a Waiver granted by the U S Department of Education \r\n \r\n- 1- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND OUESTIONED COSTS YEAR ENDED JUNE 30. 2001 \r\nIT FINANCIAL STATEMENT FINDINGS AND OUESTIONED COSTS \r\nCASH AND CASH EQUIVALENTS Inadequate Separation of Duties Reportable ConditIon FmdIng Control Number FS-7931-0 1-01 \r\nAn exanunatlon of the mternal accountmg control procedures revealed that the School DIStnCt did not provIde for adequate separatIOn of duties m the performance of the followmg accountmg functIOns and related procedures \r\nI) The bank reconcIlIation function was not separated from check preparatIOn. In addItion, bank reconcIlIatIOns were not reviewed by an mdIVIdual mdependent of the bank reconCIliation process \r\n2) The bookkeepmg function was not separated from the cash receIpts function \r\nThese condItions were a result ofmanagement's deciSIOn to lImit the number ofadmInIstrative staff made responSible for accountmg functions. The School DIStnCt should review the accountmg procedures m place, deSIgn procedures wluch would enhance segregation of duties relative to the above control categories and unplement those procedures to strengthen the mternal control over accountmg functIons \r\nGENERAL FIXED ASSETS Failure to MaintaIn General Fixed Assets Account Group Reportable CondItIOn - Matenal Weakness Repeated From Pnor Year Fmdmg Control Number. FS-7931-01-02 \r\nThe City of Vidaha Board of Education did not mamtaIn a system-wide General Fixed Assets Account Group Wltlun the formal accountIng records as required by generally accepted accountmg pnncipies This condition results m the general-purpose finanCial statements ofthe School Dlstnct bemg mcomplete and not m accordance WIth generally accepted accountmg pnncipies Appropnate action should be taken by the School Dlstnct to estabhsh accountmg controls and procedures to proVIde for maintenance ofa General Fixed Assets Account Group. These SUbSllllary records should mclude an mventory of land, bUlldmgs and equipment owned by the School DIStnCt and should mclude, but may not be lImited to, date acqUired, acquiSitIon cost, estimated replacement cost, location and descnptlOn Detailed records should be maintained of all additions and deletIons to the General FIXed Assets Account Group \r\nm FEDERAL AWARD FINDINGS AND OUESTIONED COSTS \r\nNo matters were reported \r\n-2- \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b1999-h2000","title":"City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2000","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts, issuing body."],"dcterms_spatial":["United States, Georgia, Toombs County, Vidalia, 32.21769, -82.41346"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["2000-06-30"],"dcterms_description":["Began with: Fiscal year ended June 30, 2000; ceased with: Fiscal year ended June 30, 2008.","Report year covers fiscal year.","Has supplements: City of Vidalia Board of Education, Toombs County, Georgia, schedule of salaries and travel, fiscal year ended June 30, 2000-fiscal year ended June 30, 2002; Report on salary and travel for the fiscal year ended ... (City of Vidalia Board of Education, Ga.), fiscal year ended June 30, 2003-fiscal year ended June 30, 2007; Salaries and travel reimbursement (City of Vidalia Board of Education, Ga.), fiscal year ended June 30, 2008."],"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":["City of Vidalia Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Vidalia--Auditing--Periodicals.","Education--Georgia--Vidalia--Finance--Statistics--Periodicals.","Education--Auditing","Education--Finance","Expenditures, Public","Georgia--Vidalia--fast","Georgia Government Documents--Serial"],"dcterms_title":["City of Vidalia Board of Education, Toombs County, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2000"],"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-be33-bv3-b1999-h2000"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be33-bv3-b1999-h2000"],"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":"STATE OF GEORGIA \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n \r\nGz,~ \r\n \r\nA800 \r\n \r\n \r\n \r\n~ R\\ \r\n33 \r\n \r\n\\)3 \r\n \r\n19'19-)000 \r\n \r\n00 00000 0 \r\n1776 \r\n \r\nI \r\nCITY OF VIDALIA BOARD OF EDUCATION \r\n. TOOMBS COUNTY, GEORGIA REPORT ON AUDIT \r\nOF THE FINANCIAL STATEMENTS \r\nFOR THE FISCAL YEAR ENDED JUNE 30,2000 \r\nRussell W. Hinton state Auditor \r\n \r\n CITY OF VIDALIA BOARlJ OF EDUCAnON - TOOMBS COUNTY - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATIONSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\nEXHIDITS \r\n \r\n \r\n \r\nGENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nCOMBINED STATEMENTS - OVERVIEW \r\n \r\nA \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\nALL FUND TYPES AND ACCOUNT GROUP \r\n \r\nB \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nALL GOVERNMENTAL FUND TYPES \r\n \r\nC \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\n(NON-GAAP BASIS) \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\nD \r\n \r\nSTATEMENT OF REVENUES, EXPENSES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nFIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND \r\n \r\nE \r\n \r\nSTATEMENT OF CASH FLOWS \r\n \r\nFIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND \r\n \r\nF NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING STATEMENTS \r\n \r\n \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nG \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\nH \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nI \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\nJ \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\nSCHEDULES \r\n \r\n1 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 2 SCHEDULE OF STATE REVENUE \r\n \r\nPage \r\n2 4 7 8 9 10 \r\n22 \r\n24 26 28 \r\n30 32 \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nSCHEDULES \r\n \r\n3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\n \r\nANALYSIS OF M \r\n \r\nEXPENDITURE REQUIREMENTS \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \r\n \r\n4 \r\n \r\nOVERALL \r\n \r\n5 \r\n \r\nBY PROGRAM \r\n \r\nPage \r\n33 35 \r\n36 \r\n \r\nSECTIONll \r\nCOMPLIANCE AND INTERNAL CONTROL REPORTS \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 \r\n \r\nSECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \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 RUSSELL W. HINTON \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 22, 2001 \r\n \r\nHonorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the City of Vidalia Board of Education \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATIONSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nLadies and Gentlemen: \r\nWe have audited the accompanying general purpose financial statements ofthe City ofVidalia Board of Education, as of and for the year ended June 30, 2000, as listed in the table of contents. These general purpose financial statements are the responsibility of the City of Vidalia Board of Education's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. \r\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. \r\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: \r\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. \r\n2000ARL-l3 \r\n \r\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. \r\n \r\n* The Board did not recognize as expenditures, in the year ended June 30, 2000, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 2000. Also funds received, subsequent to June 30, 2000, from the Georgia Department of Education 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, 1999, were improperly recorded in the year ended June 30, 2000. 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. \r\n \r\nThe aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material. \r\n \r\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 of the City of Vidalia Board of Education as of June 30, 2000, and the results of its operations and the cash flows of its nonexpendable trust fund for the year then ended, in conformity with generally accepted accounting principles. \r\n \r\n.In accordance with Government Auditing Standards, we have also issued our report dated March 22, \r\n \r\n2001, on our consideration ofthe City ofVidalia Board ofEducation's internal control over financial \r\n \r\nreporting and our tests of its compliance with certain provisions oflaws, regulations, contracts and \r\n \r\ngrants. That report is an integral part of an audit performed in accordance with Government \r\n \r\nAuditing Standards and should be read in conjunction with this report in considering the results of \r\n \r\nour audit. \r\n \r\n.. \r\n \r\nOur audit was performed for the purpose of forming an opinion on the general purpose financial statements of the City of Vidalia Board of Education taken as a whole. The accompanying combining statements (Exhibits G through J) and the financial schedules (Schedules 1 through 5), which includes the Schedule of Expenditures of Federal Awards as required by U. S. Office of \r\nManagement and Budget Circular A-B3, Audits of States, Local Governments, and Non-Profit Organizations, are presented for purposes of additional analysis and are not a required part of the \r\ngeneral purpose financial statements. 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 ofthe matters referred to in the third paragraph, such information is fairly stated, in all material respects, in relation to the general purpose financial statements taken as a whole. \r\n \r\n2000ARL-13 \r\n \r\n A copy ofthis report has been filed as a permanent record in the office of the State Auditor and made \r\n \r\navailable to the press ofthe State, as provided for by Official Code ofGeorgia Annotated Section 50- \r\n \r\n6-24. \r\n \r\n. \r\n \r\nRespectfully submitted, \r\n \r\nRWH:gp 2000ARL-13 \r\n \r\nssell W. Hinton State Auditor \r\n \r\n \r\n \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\n \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\n \r\n \r\nALL FUND TYPES AND ACCOUNT GROUP \r\n \r\nJUNE 30, 2000 \r\n \r\nASSETS \r\nCash and Cash Equivalents \r\nInvestments \r\nAccounts Receivable \r\nInventories Food Donated Commodities Purchased Food \r\n \r\nAmount Available in Debt Service Fund \r\nAmount to be Provided in Future Years For Payment of Bond Debt \r\n \r\nGENERAL FUND \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\n$ \r\n \r\n199,194.10 $ \r\n \r\n125,005.61 $ \r\n \r\n281,478.94 \r\n \r\n765.083.63 \r\n \r\n795.526.24 \r\n \r\n218,528.59 \r\n \r\n267.612.07 \r\n \r\n10,879.19 3,796.26 \r\n \r\nTotal Assets \r\n \r\n$ 1.159,803.97 $ \r\n \r\n358,209.65 $ ===-5.4..9..,.0._9,;,;1..-01.... \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Retainages Payable General Obligation Bonds Payable \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Bus Replacement Funds For Continuation of Federal Programs For Debt Service For Endowment Corpus For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For Purpose of Bond Issue For SPLOST Projects Unreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ \r\n \r\n742.08 $ \r\n \r\n25,433.10 \r\n \r\n2.383.72 \r\n \r\n96,419.28 \r\n \r\n$ \r\n \r\n3, 125.80 $ _---=.1=.21~,~85~2:.:.:.3~8:... \r\n \r\n$ \r\n \r\n36.928.00 \r\n \r\n893.75 \r\n \r\n$ \r\n \r\n10,879.19 \r\n \r\n3,796.26 \r\n \r\n$ \r\n \r\n1,718,856.42 \r\n$ 1,756,678.17 $ \r\n \r\n221 ,681.82 \r\n236,357.27 $ \r\n \r\n210,027.05 297.291.56 \r\n41,772.40 \r\n549,091.01 \r\n \r\nTotal Liabilities and Fund EqUity \r\n \r\n$ 1,759,803.97 $ \r\n \r\n358,209.65 $ _ _54;;;,,;,;;9...0..9..1..\"\"01.... \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -2- \r\n \r\n EXHIBIT \"An \r\n \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nFIDUCIARY FUND TYPE NONEXPENDABLE TRUST FUND \r\n \r\nACCOUNT GROUP GENERAL \r\nLONG-TERM DEBT \r\n \r\nTOTALS \r\n \r\n(Memorandum Only,,:-):--:-=-:-_ \r\n \r\nJUNE 30, 2000 \r\n \r\nJUNE 30, 1999 \r\n \r\n$ \r\n \r\n795.00 $ \r\n \r\n833.40 \r\n \r\n$ \r\n \r\n607,307.05 $ \r\n \r\n829,447.82 \r\n \r\n5,561.92 \r\n \r\n770,645.55 \r\n \r\n1,626,636.26 \r\n \r\n1,281,666.90 \r\n \r\n1,007,811.71 \r\n \r\n10,879.19 3,796.26 \r\n \r\n \r\n_ _ _ _ _ _ $ _---'3\"\",4~2:;.;:;0.l.;::,0c::.00\"\".\".:;.;00'_ \r\n \r\n3,420,000.00 \r\n \r\n18,526.86 4,288.86 \r\n450.67 \r\n3,599,549.33 \r\n \r\n$ \r\n \r\n795.00 $ \r\n \r\n6,395.32 $ \r\n \r\n3,420,000.00 $ _,.';;6,094,294.95 $ 7,086,711.51 \r\n \r\n$ \r\n \r\n795.00 \r\n \r\n$ \r\n \r\n...:.7.:::.95.~.::.;00~ \r\n \r\n$ \r\n \r\n$ _---:3::..;,4;:;,:2:;.::0...::0:.,::.;00::.:,.O:::.:O~ \r\n \r\n$ \r\n \r\n3,420,000.00 $ \r\n \r\n$ \r\n26,970.18 98;803.00 \r\n3,420,000.00 \r\n3,545,773.18 $ \r\n \r\n223,635.56 25,263.22 \r\n104,156.50 23,139.28 15,563.29 3,600,000.00 \r\n3,991,757.85 \r\n \r\n$ \r\n \r\n6,395.32 \r\n \r\n$ \r\n \r\no:::.,.:.::.;oo::.- \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n..;;.6=,3.:;.;95=.3=2;... \r\n \r\n$ \r\n \r\n36,928.00 \r\n \r\n$ \r\n \r\n1,415.69 \r\n \r\n450.67 \r\n \r\n6,395.32 \r\n \r\n21,950.36 \r\n \r\n893.75 \r\n \r\n8,383.75 \r\n \r\n10,879.19 3,796.26 \r\n210,027.05 297,291.56 \r\n \r\n18,526.86 4,288.86 494,274.78 \r\n \r\n1,982,310.64 \r\n \r\n2,545,662.69 \r\n \r\n$ 2,548,521.77 $ 3,094,953.66 \r\n \r\n$ \r\n \r\n795.00 $ \r\n \r\n6,395.32 $ \r\n \r\n3,420,000.00 $ 6,094,294.95 $ _.:.7,086,711.51 \r\n \r\n- 3- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 2000 \r\n \r\nI \r\nREVENUES \r\nState Funds Federal Funds Taxes Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\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 Community Services Operations \r\nCapital Outlay Debt Service \r\nPrincipal Interest Paying Agent Fees \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nOperating Transfers In Operating Transfers Out \r\nTotal Other Financing Sources (Uses) \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JULY 1 \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\n$ 9,486.210.37 $ \r\n \r\n130,426.61 \r\n \r\n1.757.560.11 \r\n \r\n2,757.330.54 \r\n \r\n560,647.18 \r\n \r\n221.009.41 \r\n \r\n$ 12.804.188.09 $ _-=2::J...1.:..:0:..=;8=.9=96:..:..:..:13~ \r\n \r\n$ 8.662,386.64 $ 1,067,485.18 \r\n \r\n705,493.34 195,685.65 364,175.55 428,627.87 1,009,389.42 143.376.98 962,952.65 258,327.10 \r\n25,608.58 \r\n98,780.06 \r\n \r\n18,495.40 145.324.83 45.835.44 \r\n5.596.27 384.00 \r\n865,406.47 49.50 \r\n \r\n$ 12,854,803.84 $ 2,148.577.09 \r\n \r\n$ \r\n \r\n-50,615.75 $ _ _-=-3::.:;9..r.::.5:..=;8\"\",0.=96;:;... \r\n \r\n$ $ _ _-4.:.:0::.:.76~:,.::6.:.;9'c.:.40:::.- \r\n \r\n1,050.07 \r\n \r\n$ \r\n \r\n-407.669.40 $ _ _--=1~.0:..::::5.::.;0.:.:::.07'- \r\n \r\n$ \r\n \r\n-458,285.15 $ \r\n \r\n2,214.963.32 \r\n \r\n-38,530.89 283.028.43 \r\n \r\n-7.647.67 -492.60 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 1.756,678.17 $ ............,;2_3=6_.3~5_7.=.27= \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. \r\n \r\n-4- \r\n \r\n EXHIBIT \"B\" \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTALS \r\n \r\n_ _----:(Memorandum Only~) \r\n \r\n_ \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2000 \r\n \r\nJUNE 30, 1999 \r\n \r\n$ \r\n \r\n371,200.24 $ \r\n \r\n11,474.75 \r\n \r\n$ \r\n \r\n382,674.99 $ \r\n \r\n$ \r\n0.00 \r\n \r\n9,616,636.98 $ \r\n1,757,560.11 3,128,530.78 \r\n793,131.34 \r\n \r\n9,204,588.73 1,471,709.96 2,780,210.55 \r\n944,179.04 \r\n \r\n0:::.,:.\"\"'00\"- $ 15,295,859.21 $ 14,400,688.28 \r\n \r\n$ 9.729,871.82 $ 9,216,160.86 \r\n \r\n$ \r\n \r\n442.144.86 \r\n \r\n723.988.74 341.010.48 364.175.55 474,463.31 1.009.389.42 143.376.98 962.952.65 263.923.37 \r\n384.00 25.608.58 865,406.47 98.829.56 442.144.86 \r\n \r\n565.665.82 291.703.73 341.709.98 498.867.29 1.004.937.84 155.087.88 889.222.56 267.964.53 \r\n13,412.75 863.774.37 103.177.37 735.888.29 \r\n \r\n$ \r\n \r\n180.000.00 \r\n \r\n192.275.00 \r\n \r\n795.00 \r\n \r\n180.000.00 192.275.00 \r\n795.00 \r\n \r\n160.000.00 199,715.00 \r\n831.20 \r\n \r\n$ \r\n \r\n442.144.86 $ \r\n \r\n373.070.00 $ 15.818,595.79 $ 15.308.119.47 \r\n \r\n$ \r\n \r\n-59,469.87 $ \r\n \r\n-373.070.00 $ \r\n \r\n-522,736.58 $ \r\n \r\n-907,431.19 \r\n \r\n$ \r\n \r\n34.000.00 $ \r\n \r\n372,619.33 $ \r\n \r\n407.669.40 $ \r\n \r\n638,604.56 \r\n \r\n-407,669.40 \r\n \r\n-638.604.56 \r\n \r\n$ \r\n \r\n34.000.00 $ \r\n \r\n372.619.33 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n-25,469.87 $ \r\n \r\n574.560.88 \r\n \r\n-450.67 $ \r\n450.67 \r\n \r\n-522,736.58 $ \r\n3,073.003.30 \r\n \r\n-907,431.19 3,979.785.63 \r\n \r\n-7,647.67 -492.60 \r\n \r\n978.68 -329.82 \r\n \r\n$==-......5..4..9...091.01 $ \r\n \r\n.0...0..0_ $ 2,542,126.45 $ 3.073,003.30 \r\n \r\n-5- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION TOOMBS COUNTY COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nBUDGET AND ACTUAL (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS \r\nYEAR ENDED JUNE 30, 2000 \r\n \r\nEXHIBIT \"C\" \r\n \r\nGENERAL FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Taxes Other Funds \r\n \r\n$ 9.104.696.34 $ 9,486.210.37 \r\n \r\n2.770.094.10 415.405.00 \r\n \r\n2.757.330.54 560.647.18 \r\n \r\nTotal Revenues \r\n \r\n$ 12.290,195.44 $ 12.804.188.09 \r\n \r\nEXPENDITURES \r\n \r\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 Community Services Operations \r\n \r\n$ 8.678.211.02 $ 8.662.386.64 \r\n \r\n631.534,90 194.190.05 365.104.45 327.300.65 975.825.83 156.329.10 1.029.787.00 282.076.00 \r\n \r\n705,493.34 195.685.65 364.175.55 428.627.87 1.009.389.42 143.376.98 962.952.65 258.327.10 \r\n \r\n12.000.00 \r\n \r\n25,608.58 \r\n \r\n96,905.00 \r\n \r\n98.780.06 \r\n \r\nTotal Expenditures \r\n \r\n$ 12.749.264,00 $ 12.854.803.84 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ -459.068.56 $ _-:.:-5~0:...::.6~15~..!.:75~ \r\n \r\nOTHER FINANCING SOURCES (USES) \r\n \r\nOther Sources Other Uses \r\n \r\n$ -673.275.00 $ -407.669.40 \r\n \r\nTotal Other Financing Sources (Uses) \r\n \r\n$ -673.275.00 $ -407.669.40 \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JULY 1, 1999 \r\n \r\n$ -1.132.343.56 $ -458.285.15 \r\n \r\n2.155.520.92 \r\n \r\n2.214.963.32 \r\n \r\nAdjustments Food Inventory - Net Change in Period \r\nDonated Commodities Purchased Food \r\n \r\n13.019.62 \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS)~ \r\n \r\n$ 73.000.00 $ 130,426.61 \r\n \r\n, \r\n \r\n1,488,479.00 \r\n \r\n1.757.560.11 \r\n \r\n247,475.00 \r\n \r\n221,009.41 \r\n \r\n$ 1.808.954.00 $ 2.108.996.13 \r\n \r\n$ 736.102,00 $ 1.067.485.18 \r\n \r\n20.008.00 118.830.00 51.225.00 \r\n1,274,00 \r\n \r\n18.495.40 145.324.83 \r\n45.835.44 \r\n \r\n4.290.00 \r\n7.886.00 921,416.00 \r\n400.00 \r\n \r\n5.596.27 384.00 \r\n865,406.47 49.50 \r\n \r\n$ 1.861.431.00 $ 2.148,577.09 \r\n \r\n$ -52,477.00 $ -39.580.96 \r\n \r\n$ 21.200.00 $ \r\n \r\n1.050.07 \r\n \r\n \r\n$ 21.200.00 $ _ _1\"\".0:.=5\"\"0.'-=-07:.... \r\n \r\n$ -31.277.00 $ -38.530.89 \r\n \r\n237.978.28 \r\n \r\n283.028.43 \r\n \r\n12.704.87 \r\n \r\n-7.647.67 -492.60 \r\n \r\nFUND BALANCE JUNE 30, 2000 \r\n \r\n$ 1.036.196.98 $ 1,756.678.17 \r\n \r\n$ 219,406.15 $ 236.357.27 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. \r\n-7- \r\n \r\n  \r\nCITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES \r\nFIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND \r\nYEAR ENDED JUNE 30, 2000 \r\n \r\nEXHIBIT \"D\" \r\n \r\nOPERATING REVENUES \r\nNone Recorded \r\nOPERATING EXPENSES \r\nCurrent Scholarships Operating Income (Loss) \r\nNONOPERATING REVENUES \r\nDividends Earned Net Increase (Decrease) in the \r\nFair Value of Investments Nonoperating Revenues Net Income (Loss) \r\nFUND BALANCE JULY 1 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\nENDOWMENT FUND \r\nSARA A. MURCHISON SCHOLARSHIP \r\nFUND \r\n \r\n. TOTALS \r\n_ _ _(Memorandum OnIV:...--_ _ \r\nYEAR ENDED JUNE 30, 2000 JUNE 30,1999 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n-'0::.:,.0;:;.;0'- \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n-'0::.:,.0;:;.;0'- \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n-'0::.:,.0;:;.;0'- \r\n \r\n$ \r\n \r\n91.68 $ \r\n \r\n91.68 $ \r\n \r\n366.72 \r\n \r\n-15,646.72 \r\n \r\n-15,646.72 \r\n \r\n-6,478.72 \r\n \r\n$ \r\n \r\n-15,555.04 $ \r\n \r\n-15,555.04 $ _ _-.,:.61.:.1.:.:12:.:;.0::.:0:.. \r\n \r\n$ \r\n \r\n-15,555.04 $ -15,555.04 $ \r\n \r\n-6,112.00 \r\n \r\n21 ,950.36 \r\n \r\n21 ,950.36 \r\n \r\n28,062.36 \r\n \r\n6,395.32 $ ====2;.,;,1.,9.5..0....3...6. = \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. \r\n-8- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY STATEMENT OF CASH FLOWS \r\nFIDUCIARY FUND TYPE - NON EXPENDABLE TRUST FUND YEAR ENDED JUNE 30, 2000 \r\n \r\nEXHIBIT \"E\" \r\n \r\n \r\nCash Flows from Operating Activities: Cash Paid for Scholarships \r\nCash Flows from Investing Activities: Dividends Received on Investments \r\nNet Increase (Decrease) in Cash Cash and Cash Equivalents - July 1 \r\nCash and Cash Equivalents - June 30 \r\n \r\nENDOWMENT FUND \r\nSARA A. MURCHISON SCHOLARSHIP \r\nFUND \r\n \r\nTOTALS \r\n \r\n(Memorandum Only.L.) \r\n \r\n_ \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2000 \r\n \r\nJUNE 30,1999 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0:::.:0..:.;00\"- \r\n \r\n$ \r\n \r\n91.68 $ \r\n \r\n91 .68 $ \r\n \r\n..:::3:.:::.66:::.:.~72=- \r\n \r\n$ \r\n \r\n91.68 $ \r\n \r\n91.68 $ \r\n \r\n366.72 \r\n \r\n741.72 \r\n \r\n741.72 \r\n \r\n375.00 \r\n \r\n$ \r\n \r\n833.40 $ \r\n \r\n833.40 $ ===,.;,,7,.;,,41....7;.;;2= \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. - 9- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIDIT \"F\" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nruNE 30, 2000 \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nREPORTING ENTITY \r\nThe City of Vidalia 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. \r\n \r\nFUND ACCOUNTING \r\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. \r\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. \r\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: \r\nThe general purpose financial statements account for all State, Federal, Taxes and Other funds under control of the 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: \r\nGOVERNMENTAL FUND TYPES - are used to account for all or most ofa Board's educational \r\nactivities. Governmental Fund Types include: \r\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. \r\n- 10- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"F\" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2000 \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\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 received primarily from the Georgia Department of Education and from the Federal government to accomplish specific educational objectives. \r\nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. \r\nDEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees. \r\nFIDUCIARY FUND TYPE - the fund used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. This fund includes: \r\nNONEXPENDABLE TRUST FUND Sara A. Murchison Scholarship Fund - the fund used to account for an endowment of which the corpus is to be invested and preserved intact with the resultant income to be used to provide college scholarship to Vidalia City High School Seniors. \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for general obligation debt outstanding. \r\nBASIS OF ACCOUNTING \r\n \r\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 ofthese 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. \r\nLiabilities which are expected to be financed from available spend~ble 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. \r\nAll nonexpendable trust funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and liabilities associated with the operation ofthese funds are included on the balance sheet. Operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. \r\n- 11 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY EXHIBIT \"F\" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2000 \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nGovernmental funds are accounted for using the modified accrual basis of accounting under which: \r\nRevenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). \"Measurable\" means the amount of the transaction can be determined and \"available\" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Those revenues considered susceptible to accrual are property taxes, local option sales taxes, intergovernmental grants and investment income. \r\nExpenditures are generally recognized when the related fund liability is incurred. \r\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 2000, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1999 and ending in early June 2000. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1999 and ending in August 2000. 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, 2000, compensation under these employment contracts had been earned, but two ofthe twelve monthly payments, due for July and August 2000, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 2000. Also, the State's portion ofthe compensation paid in July and August 2000 was received and recorded as revenue in the fiscal year subsequent to June 30, 2000. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1999, were recorded in the year ended June 30, 2000. 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. \r\nThe accrual basis ofaccounting, as required by generally accepted accounting principles, is utilized by nonexpendable trust funds. Under the accrual basis of accounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. \r\nBUDGET \r\nThe City of Vidalia 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. \r\n- 12 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY EXHffiIT \"F\" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2000 \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nThe budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval ofthis 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 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(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\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits in authorized financial institutions. Georgia Laws OCGA 45-8-14 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. \r\nINVESTMENTS \r\nCOMPOSITION 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 and equity investments 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: \r\n(1) Obligations issued by the State of Georgia or by other states, \r\n(2) Obligations issued by the United States government, \r\n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \r\n(4) Obligations of any corporation of the United States government, \r\n(5) Prime banker's acceptances, \r\n(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services, \r\n- 13- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIDIT \"F\" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2000 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\n(7) Repurchase agreements, and \r\n \r\n(8) Obligations of other political subdivisions of the State of Georgia. \r\n \r\nRECEIVABLES \r\n \r\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. \r\n \r\nPROPERTY TAXES \r\n \r\nThe City ofVidalia fixed the property tax levy for the 1999 tax year (calendar year) on October 20, 1999 (levy date). Taxes were due on December 20, 1999. The lien date for property taxes was January 1, 1999. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 2000. The Vidalia City Clerk bills and collects the property taxes for the Board of Education and remits the taxes collected to the Board. . \r\n \r\nThe tax millage rate levied for the 1999 tax year (calendar year) for the City of Vidalia Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n15.00 mills \r\n \r\nSALES TAXES \r\n \r\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 $371,200.24 and was recorded in the Capital Projects Fund. The State will terminate collection of this tax once an additional $6,900,799.76 has been collected or on March 31, 2005, whichever occurs first. \r\n \r\nINVENTORIES \r\n \r\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 ofpurchase. 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. \r\n \r\n- 14- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY EXHIBIT \"F\" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2000 \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nGENERAL OBLIGATION BONDS \r\nThe Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond premiums and discounts, as well as issuance costs, are recognized in the financial statements during the year bonds are issued. General obligation bonds are direct obligations and pledge the full faith and credit ofthe government. The outstanding amount ofthese bonds is recorded in the General Long-Term Debt Account Group. \r\nINTERFUND TRANSACTIONS \r\nThe Board has the following types of interfund transactions: \r\nReimbursements of expenditures/expenses initially made from a fund that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed. \r\nOperating transfers are recorded for all interfund transactions other than reimbursements. \r\nMEMORANDUM ONLY - TOTAL COLUMNS \r\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, results ofoperations or cash flows 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. \r\nNote 2: DEPOSITS AND INVESTMENTS \r\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 ofmoney which has not been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate ofthe face value of such surety bond and the market value of securities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. Ifa depository elects the pooled method (OCGA 45-8-13.1) the aggregate ofthe market value ofthe securities pledged to secure a pool ofpublic funds shall be not less than 110 percent ofthe daily pool balance. OCGA Section 45-8-11 (b) 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. \r\n- 15 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"F\" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2000 \r\nNote 2: DEPOSITS AND INVESTMENTS \r\nAcceptable security for deposits consists of anyone 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 ofthe 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 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\nCATEGORIZAnON OF DEPOSITS At June 30, 2000, the bank balances were $2,320,652.84. The amounts ofthe total bank balances are classified into three categories of credit risk: \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \r\nThe Board's deposits are classified by risk category at June 30, 2000, as follows: \r\n- 16- \r\n \r\n .. \r\nCITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2000 \r\n \r\nEXHIBIT \"F\" \r\n \r\nNote 2: DEPOSITS AND INVESTMENTS \r\n \r\nRisk Category \r\n1 \r\n2 \r\n3 \r\nTotal \r\n \r\nBank Balance \r\n$ 258,240.30 1,002,190.00 1,060,222.54 \r\n$ 2,320,652.84 \r\n \r\nCATEGORIZATION OF INVESTMENTS At June 30, 2000, the fair value of the Board's total investments was $5,561.92 and this entire amount consisted of common stock which was registered in the Board's name. \r\n \r\nNote 3: NON-MONETARY TRANSACTIONS \r\n \r\nThe Board receives food commodities from the United States Department ofAgriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned \r\nvalue. See Note 1 - Inventories \r\nNote 4: RISK MANAGEMENT \r\n \r\nThe Board is exposed to various risks ofloss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster; unemployment compensation; and dental claims. \r\n \r\nThe Board has obtained commercial insurance for risk ofloss associated with torts, assets, errors or omissions and job related illness or injuries to employees. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years. \r\n \r\nThe Board has elected to self-insure for all losses related to natural disaster. The Board has not experienced any losses related to this risk in the past three years. \r\n \r\nThe Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the General Fund with expenditure and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. \r\n \r\nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \r\n \r\n1999 \r\n2000 \r\n \r\nBeginning \r\n \r\nClaims and \r\n \r\nof Year \r\n \r\nChanges in \r\n \r\nLiability_ \r\n \r\nEstimates \r\n \r\n \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n3,588.00 $ \r\n \r\nClaims Paid \r\n \r\nEnd ofYear \r\nLiability:..- \r\n \r\n0.00 $,_ _~O~.O~O 3,588.00 $,_ _~O~.O~O \r\n \r\n- 17 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHIBIT \"F\" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2000 \r\n \r\nNote 4: RISK MANAGEMENT \r\n \r\nThe Board is self-insured with regard to employee and dependent dental claims. This program is funded through a combination of employer and employee contributions. Changes in dental claims liability during the last two fiscal years are as follows: \r\n \r\n1999 2000 \r\n \r\nBeginning \r\nof Year \r\nLiability_ \r\n \r\nClaims and Changes in Estimates \r\n \r\nClaims Paid \r\n \r\nEnd ofYear \r\nLiability_ \r\n \r\n$ \r\n \r\n0.00 $ 98,765.20 $ 98,765.20 $ \r\n \r\n~O~.O~O \r\n \r\n$ \r\n \r\n0.00 $ 110,630.90 $ 11 0,630.90 $_ _----::O~O.~O \r\n \r\nThe Board has purchased surety bonds to provide additional insurance coverage as follows: \r\n \r\nPosition Covered \r\n \r\nAmount \r\n \r\nSuperintendent Board Treasurer Board Vice-Treasurer \r\n \r\n$ 50,000.00 $ 50,000.00 $ 50,000.00 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nGENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are as follows: \r\n \r\n_ _ _ _-\"-P-=.uIp=o=se:...- \r\n \r\n_ \r\n \r\nInterest Rates \r\n \r\nAmount \r\n \r\nGeneral Government - Series 1995 \r\n \r\n4.20% - 5.75% $ 3,420,000.00 \r\n \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 2000, were as follows: \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\nBalance July 1, 1999 \r\n \r\n$ 3,600,000.00 \r\n \r\nDeductions Debt Retired \r\n \r\n180,000.00 \r\n \r\nBalance June 30, 2000 \r\n \r\n$ 3,420,000.00 \r\n \r\n- 18- \r\n \r\n . \r\nCITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2000 \r\n \r\nEXHIBIT \"F\" \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nAt June 30, 2000, payments due by fiscal year which includes principal and interest for these items are as follows: \r\n \r\nFiscal Year Ended June 30 \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\n2001 2002 2003 2004 2005 2006 - 2010 \r\n \r\n$ 388,725.00 408,782.50 427,150.00 448,767.50 468,317.50 \r\n2,447,455.00 \r\n \r\nTotal Principal and Interest Note 6: ON-BEHALF PAYMENTS \r\n \r\n$ 4,589.197.50 \r\n \r\nThe Board has recognized revenues and expenditures in the amount of $165,258.05 for health insurance and retirement contributions paid on the Board's behalfby the following State Agencies. \r\n \r\nGeorgia Department of Education Paid to the Georgia Department of Community Health For Health Insurance ofNon-Certified Personnel In the amount of$129,634.48 \r\n \r\nPaid to the Teachers Retirement System of Georgia . For Teachers Retirement System (TRS) Employer's Cost In the amount of$9,313.57 \r\n \r\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 $26,31 0.00 \r\n \r\nNote 7: SIGNIFICANT COMMITMENTS \r\n \r\nThe following is an analysis ofsignificant outstanding construction or renovation contracts executed by the Board as of June 30, 2000: \r\n \r\n- 19- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHffiIT \"F\" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2000 \r\n \r\nNote 7: SIGNIFICANT COMMITMENTS \r\n \r\nProject \r\n \r\nUnearned Executed Contracts \r\n \r\nDickerson Primary School - HVAC Vidalia High School - Reroofing Project Vidalia High School - Window Replacement \r\n \r\n$ 202,713.00 25,556.00 77,041.47 \r\n \r\n$ 305,310.47 \r\n \r\nThe amounts described in this note are not reflected in the general purpose financial statements. \r\n \r\nNote 8: CONTINGENT LIABILITIES \r\n \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 expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \r\n \r\nNote 9: RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\n \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System ofGeorgia (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 Re1irement 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. \r\n \r\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. The required employer contribution rate is 11.29% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: \r\n \r\n- 20- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY EXHffiIT \"F\" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 2000 \r\n \r\nNote 9: RETIREMENT PLANS \r\nFiscal Year \r\n2000 1999 1998 \r\n \r\nPercentage Contributed \r\n100% 100% 100% \r\n \r\nRequired Contribution \r\n$ 1,017,788.53 $ 1,032,193.62 $ 937,409.26 \r\n \r\n \r\n \r\n \r\n- 21 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING BALANCE SHEET SPECIAL REVENUE FUND \r\nJUNE 30, 2000 \r\n \r\nASSETS Cash and Cash Equivalents Accounts Receivable Inventories \r\nFood Donated Commodities Purchased Food \r\nTotal Assets \r\nLIABILITIES AND FUND EQUITY LIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable \r\nTotal Liabilities FUND EQUITY \r\nFund Balances Reserved For Continuation of Federal Programs For' Inventories Food Donated Commodities Purchased Food Unreserved Undesignated Total Fund Equity \r\nTotal Liabilities and Fund Equity \r\nSee notes to the general purpose financial statements. \r\n- 22- \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\n \r\n$ \r\n \r\n246,337.80 \r\n \r\nLOTIERY PROGRAMS \r\n \r\n3,470.86 $ \r\n \r\n20,219.67 \r\n \r\n10,879.19 3,796.26 \r\n \r\n$ \r\n \r\n264,484.11 $ ==~2.,;;:0~,2=:,1,;;;;9.~6.:...7 \r\n \r\n$ \r\n \r\n20,219.67 \r\n \r\n$ \r\n \r\n5,578.56 \r\n \r\n22,548.28 \r\n \r\n$ \r\n \r\n28,126.84 $ _ _~2~O,..:2~19~.6~7_ \r\n \r\n$ \r\n \r\n10,879.19 \r\n \r\n3,796.26 \r\n \r\n221,681.82 $ \r\n \r\n$ \r\n \r\n236,357.27 $ \r\n \r\n~O.~OO~ ~O.~OO~ \r\n \r\n$ \r\n \r\n264,484.11 $ ==~2;,;;;;O'1:;,2.:.;19;;.;,;.6:;;.;7= \r\n \r\n EXH IBIT \"G\" \r\n \r\nFEDERAL PROGRAMS \r\n \r\nTOTALS \r\n \r\nJUNE 30, 2000 \r\n \r\nJUNE 30, 1999 \r\n \r\n$ \r\n \r\n246.337.80 $ \r\n \r\n289,254.80 \r\n \r\n$ \r\n \r\n194.838.06 \r\n \r\n218.528.59 \r\n \r\n169.591.16 \r\n \r\n10.879.19 3.796.26 \r\n \r\n18,526.86 4,288.86 \r\n \r\n$ \r\n \r\n194,838.06 $ \r\n \r\n479,541.84 $==4=8=1=,6=61=.6=8= \r\n \r\n \r\n \r\n$ \r\n \r\n101.112.52 $ \r\n \r\n121.332.19 $ \r\n \r\n51,123.54 \r\n \r\n19.854.54 \r\n \r\n25,433.10 \r\n \r\n21,043.11 \r\n \r\n73,871.00 \r\n \r\n96,419.28 \r\n \r\n104,156.50 \r\n \r\n22,310.10 \r\n \r\n$ \r\n \r\n194,838.06 $ \r\n \r\n243.184.57 $ _ _1.;...;;;9\"\",,8=,6..:;.;33=.2=5~ \r\n \r\n \r\n \r\n$ \r\n \r\n1,415.69 \r\n \r\n$ \r\n \r\n10,879.19 \r\n \r\n3,796.26 \r\n \r\n18.526.86 4.288.86 \r\n \r\n$ \r\n \r\no::..:..:;.;oo~ \r\n \r\n221,681.82 \r\n \r\n258,797.02 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n236,357.27 $ _---'2=8;.;:;3=.0=28::.:...;.;43:;.. \r\n \r\n$ \r\n \r\n194,838.06 $ \r\n \r\n479.541.84 $ ==4=8=1=.6=61=..6..8= \r\n \r\n- 23- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nSPECIAL REVENUE FUND YEAR ENDED JUNE 30, 2000 \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Other Funds \r\n \r\nTotal Revenues \r\n \r\n \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Operations \r\n \r\nTotal Expenditures \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\nOTHER FINANCING SOURCES \r\n \r\nOperating Transfers In \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures \r\n \r\nFUND BALANCE JULY 1 \r\n \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTIERY PROGRAMS \r\n \r\n$ \r\n \r\n66,552.00 $ \r\n \r\n540,729.86 \r\n \r\n221,009.41 \r\n \r\n63,874.61 \r\n \r\n$ \r\n \r\n828,291 .27 $ _ _...:::6~3z.:8:.:.,:....74.:..:..6~1:.- \r\n \r\n$ \r\n \r\n63,874.61 \r\n \r\n$ \r\n \r\n865,406.47 \r\n \r\n$ \r\n \r\n865,406.47 $ _ _....::6:.:o:3~,8~47~.6~1:.... \r\n \r\n$ \r\n \r\n-37,115.20 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n-37,115.20 $ \r\n \r\n0.00 \r\n \r\n281,612.74 \r\n \r\n0.00 \r\n \r\n-7,647.67 -492.60 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ \r\n \r\n236,357.27 $ =====0;;0:;;,;..0;;;.;0;;.. \r\n \r\nSee notes to the general purpose financial statements. - 24- \r\n \r\n EXHIBIT \"H\" \r\n \r\nFEDERAL PROGRAMS \r\n \r\nTOTALS \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2000 \r\n \r\nJUNE 30,1999 \r\n \r\n$ \r\n \r\n130,426.61 $ \r\n \r\n121,013.54 \r\n \r\n$ 1,216,830.25 \r\n \r\n1,757,560.11 \r\n \r\n1,471,709.96 \r\n \r\n221,009.41 \r\n \r\n217,745.90 \r\n \r\n$ 1,216,830.25 $ 2,108,996.13 $ 1,810,469.40 \r\n \r\n$ 1,003,610.57 $ 1,067,485.18 $ \r\n \r\n845,838.78 \r\n \r\n18,495.40 145,324.83 \r\n45,835.44 5,596.27 384.00 \r\n49.50 \r\n \r\n18,495.40 145,324.83 \r\n45,835.44 5,596.27 384.00 \r\n865,406.47 49.50 \r\n \r\n15,682.15 101,214.40 \r\n3,434.60 55,132.40 \r\n7,568.73 \r\n285.00 862,091.37 \r\n \r\n$ 1,219,296.01 $ 2,148,577.09 $ 1,891,247.43 \r\n \r\n$ \r\n \r\n-2,465.76 $ \r\n \r\n-39,580.96 $ \r\n \r\n-80,778.03 \r\n \r\n \r\n \r\n1,050.07 \r\n \r\n1,050.07 \r\n \r\n51 ,049.96 \r\n \r\n$ \r\n \r\n-1,415.69 $ \r\n \r\n-38,530.89 $ \r\n \r\n-29,728.07 \r\n \r\n1,415.69 \r\n \r\n283,028.43 \r\n \r\n312,107.64 \r\n \r\n-7,647.67 -492.60 \r\n \r\n978.68 -329.82 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n236,357.27 $ =~2=8=3!OO,0=28=.4=3= \r\n \r\n- 25- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING BALANCE SHEET CAPITAL PROJECTS FUND \r\nJUNE 30, 2000 \r\n \r\nASSETS Cash and Cash Equivalents Accounts Receivable \r\nTotal Assets \r\nLIABILITIES AND FUND EQUITY LIABILITIES \r\nRetainages Payable FUND EQUITY \r\nFund Balances Reserved For Purposes of Bond Issue For SPLOST Projects Unreserved Undesignated \r\n \r\nTotal Fund Equity \r\nTotal Liabilities and Fund Equity \r\n \r\nREGULAR \r\n \r\nBOND PROCEEDS \r\n \r\n$ \r\n \r\n41,772.40 $ \r\n \r\n210,027.05 \r\n \r\n$ \r\n \r\n41 ,772.40 $ =====2=1=0.1.:,0=27=.=05= \r\n \r\n$ \r\n \r\n210,027.05 \r\n \r\n$ _ _...:4:..:.1...:.,7..:.72::';'.::.;40:::- \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n41,772.40 $ _----'2~1~0J..:::,O::::.27:..:..0~5~ \r\n \r\n$ \r\n \r\n41,772.40 $ =====2=1~O!:,0=27;.;,;.0~5;\", \r\n \r\nSee notes to the general purpose financial statements. \r\n- 26- \r\n \r\n EXHIBIT \"I\" \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nJUNE 30, 2000 \r\n \r\nJUNE 30, 1999 \r\n \r\n$ \r\n \r\n29,679.49 $ \r\n \r\n281,478.94 $ \r\n \r\n590,124.17 \r\n \r\n267,612.07 \r\n \r\n267,612.07 \r\n \r\n$ \r\n \r\n297,291.56 $ \r\n \r\n549,091.01 $ ==5;;;.;9;,;;;0~,1~2,;;;4.,,;,17~ \r\n \r\n$ \r\n \r\n15,563.29 \r\n \r\n$ \r\n \r\n$ \r\n \r\n297,291.56 \r\n \r\n0.00 \r\n \r\n \r\n \r\n$ \r\n \r\n297,291.56 $ \r\n \r\n210,027.05 $ \r\n297,291.56 \r\n \r\n494,274.78 \r\n \r\n41,772.40 \r\n \r\n80,286.10 \r\n \r\n549,091 .01 $ _ _5::..;7~4.z.:5:,.::;6.::.;0.~88:::.... \r\n \r\n$ \r\n \r\n549,091.01 $ =~5==9=0.,.1.=24='.,;,.17== \r\n \r\n- 27- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nCAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 2000 \r\n \r\nREVENUES Taxes Other Funds Total Revenues \r\nEXPENDITURES Capital Outlay Building and Building Improvements \r\nExcess of Revenues over (under) Expenditures OTHER FINANCING SOURCES \r\nOperating Transfers In Excess of Revenues and Other Financing Sources \r\nover (under) Expenditures FUND BALANCE JULY 1 \r\nFUND BALANCE JUNE 30 \r\n \r\nREGULAR \r\n \r\nBOND PROCEEDS \r\n \r\n$ \r\n \r\no.00 $ _ _.-,;1~1.z....:,4..:...47.:..:.:..;75::..... \r\n \r\n$ \r\n \r\n0.00 $ _ _.-,;1~1.z....:,4..:...47.:..:.:..;75:... \r\n \r\n$ \r\n \r\n42 ,013.70 $ _---'3=2;.;;;.6=,2=22=.4..;.;8;.... \r\n \r\n$ \r\n \r\n-42,013.70 $ \r\n \r\n-314,747.73 \r\n \r\n3,500.00 \r\n \r\n30,500.00 \r\n \r\n$ \r\n \r\n-38,513.70 $ \r\n \r\n-284,247.73 \r\n \r\n80,286.10 \r\n \r\n494,274.78 \r\n \r\n$ \r\n \r\n41 1772.40 $ =====2;;,;1..0...,.0...2...7.....,;;,,05== \r\n \r\nSee notes to the general purpose financial statements. - 28- \r\n \r\n EXH IBIT \"J\" \r\n \r\nSPECIAL PURPOSE LOCAL OPTION \r\nSALES TAX \r\n \r\nTOTALS \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 2000 \r\n \r\nJUNE 30,1999 \r\n \r\n$ \r\n \r\n371,200.24 $ \r\n \r\n371,200.24 \r\n \r\n11 ,474.75 $ _ _~7..:::5J...:,4..::;52::..::.67:..... \r\n \r\n$ \r\n \r\n371,200.24 $ \r\n \r\n382,674 .99 $ _ _~7..:::5J...:,4..::;52::..::.67:..... \r\n \r\n$ \r\n \r\n73,908.68 $ \r\n \r\n442,144.86 $ _ _7~3:.:::5...::,8:.:::.88~.=:29~ \r\n \r\n$ \r\n \r\n297,291.56 $ \r\n \r\n-59,469.87 $ \r\n \r\n-660,435.62 \r\n \r\n34,000.00 \r\n \r\n227,197.10 \r\n \r\n$ \r\n \r\n297,291.56 $ \r\n \r\n-25,469.87 $ \r\n \r\n-433,238.52 \r\n \r\n0.00 \r\n \r\n574,560.88 \r\n \r\n1,007,799.40 \r\n \r\n$ \r\n \r\n297,291.56 $ \r\n \r\n549,091.01 $ .............;5;;.;,7..;,4\"\"\",5,;;;60;;.;,.8;;;,;.8... \r\n \r\n- 29- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED JUNE 30, 2000 \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\n \r\nCFDA NUMBER \r\n \r\nPASSTHROUGH \r\nENTITY ID \r\nNUMBER \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\nAgriculture, U. S. Department of Child Nutrition Cluster Pass-Through From Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program National School Lunch Program \r\n \r\n 10.553  10.555 \r\n \r\nN/A \r\n \r\n$ 86,854.86 - \r\n \r\nN/A \r\n \r\n401,292.03 $ \r\n \r\n(2) \r\n815,662.21 (3) \r\n \r\nTotal Child Nutrition Cluster \r\n \r\nOther Programs Pass-Through From Georgia Department of Education Food and Nutrition Program Food Distribution Program (1) Pass-Through From Office of School Readiness Food and Nutrition Program Child and Adult Care Food Program \r\n \r\n10.550 10.558 \r\n \r\n$ 488,146.89 $ \r\n \r\n815,662.21 \r\n \r\nN/A \r\n \r\n49,744.26 \r\n \r\n49,744.26 \r\n \r\nN/A \r\n \r\n2,838.71 \r\n \r\n(2) \r\n \r\nTotal U. S. Department of Agriculture \r\n \r\n$ 540,729.86 $ _ _.:.86:.;5:.\u003c.4,;.;:0:.:;6.:.;.4c:..7 \r\n \r\nEducation. U. S. Department of Special Education Cluster Pass-Through From Georgia Department of Education Individuals with Disabilities Education Act Part B - Special Education Capacity Building Improvement Flow Through Preschool \r\n \r\n84.173 84.027 84.173 \r\n \r\nN/A \r\n \r\n$ \r\n \r\n2,248.25 $ \r\n \r\nN/A \r\n \r\n110,152.47 \r\n \r\nN/A \r\n \r\n11,654.36 \r\n \r\n2.248.25 110.152.47 \r\n11.654.36 \r\n \r\nTotal Special Education Cluster \r\n \r\n$ 124,055.08 $ \r\n \r\n124.055.08 \r\n \r\nOther Programs \r\n \r\nPass-Through From Georgia Department of Education \r\n \r\nComprehensive School Reform Demonstration \r\n \r\n84.332 \r\n \r\nN/A \r\n \r\nElementary and Secondary Education Act \r\n \r\nTitle I \r\n \r\nGrants to Local Educational Agencies \r\n \r\n84.010 \r\n \r\nN/A \r\n \r\nTitle II \r\n \r\nEisenhower Professional Development \r\n \r\n84.281 \r\n \r\nN/A \r\n \r\nTitle III \r\n \r\nTechnology Literacy Challenge Fund Grants \r\n \r\n84.318 \r\n \r\nN/A \r\n \r\nTitle VI \r\n \r\nInnovative Education Program Strategies \r\n \r\n84.298 \r\n \r\nN/A \r\n \r\nClass Size Reduction \r\n \r\n84.340 \r\n \r\nN/A \r\n \r\nGoals 2000 \r\n \r\nState and Local Education Systemic Improvement \r\n \r\nGrants \r\n \r\n84.276 \r\n \r\nN/A \r\n \r\nVocational Education - Basic Grants to States \r\n \r\nHigh School Program \r\n \r\nBasic Grant \r\n \r\n84.048 \r\n \r\nN/A \r\n \r\n68,817.00 \r\n576.093.22 19.604.08 \r\n131.956.16 19,777.00 76,949.78 \r\n170.963.93 \r\n28,614.00 \r\n \r\n68.817.00 \r\n576.174.58 (3) 21.019.77 131,956.16 20,140.76 (3) 76,949.78 \r\n171.568.88 (3) \r\n28,614.00 \r\n \r\nTotal U. S. Department of Education \r\n \r\n$ 1,216.830.25 $ _ _1:..t:,2:..;,1..::.!9.::;29::.::6c;.0::.~1 \r\n \r\nTotal Federal Financial Assistance \r\n= N/A Not Available \r\n \r\n- 30- \r\n \r\n$ 1,757,560.11 $ 2,084,702.48 \r\n \r\n  \r\nCITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED JUNE 30, 2000 \r\n \r\nSCHEDULE \"1\" \r\n \r\nNotes to the Schedule of Expenditures of Federal Awards \r\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. \r\n(2) Expenditures for the Child and Adult Care Food Program and the School Breakfast Program were not maintained separately and are included in the 2000 National School Lunch Program. \r\n(3) Expenditures for this program include State, and/or Other Funds. Expenditures are not maintained by fund source. \r\nMajor Programs are identified by an asterisk (*) in front of the CFDA number. \r\nThe Board did not provide Federal Assistance to any Subrecipienl. \r\nThe accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the City of Vidalia 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 financial statements for the govemmental funds. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 31 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 2000 \r\n \r\nSCHEDULE \"2\" \r\n \r\nAGENCY/FUNDING \r\nGRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Programs Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Middle School Incentive Program In-School Suspension Mid-term Adjustment Counselors Grades 4 and 5 Technology Specialist Local Five Mill Share Educational Equalization Formula Food Services Vocational Education Other State Programs Alternative Program Apprenticeship Program At-Risk Summer School Program Environmental Science Program Health Insurance Mentor Teacher Program Preschool Handicapped Program Remedial Summer School Program Teachers'Retirement Year 2000 Project Funding Lottery Programs Assistive Technology Computers in the Classroom \r\nOffice of the Governor Children and Youth Coordinating Council OASIS Grant \r\nOffice of Treasury and Fiscal Services Public School Employees Retirement \r\nCONTRACTS Education, Georgia Department of Aquatic Alternatives Program Georgia's Reading Challenge Program \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 5,784,274.00 \r\n869,212.00 278,206.00 243,007.00 \r\n60,746.00 1,502,203.00 \r\n130,695.00 36,928.00 \r\n211,605.00 74,464.00 76,886.00 24,149.00 28,842.00 \r\n-989,010.00 734,521.00 \r\n$ \r\n21,245.91 \r\n77,962.00 2,000.00 5,661.82 750.00 \r\n129,634.48 810.00 \r\n29,558.00 4,639.62 9,313.57 \r\n10,232.00 \r\n \r\n$ 5,784,274.00 \r\n869,212.00 278,206.00 243,007.00 \r\n60,746.00 1,502,203.00 \r\n \r\n66,552.00 \r\n \r\n130,695.00 36,928.00 \r\n211,605.00 74,464.00 76,886.00 24,149.00 28,842.00 \r\n-989,010.00 734,521.00 \r\n66,552.00 21,245.91 \r\n \r\n77,962.00 2,000.00 5,661.82 750.00 \r\n129,634.48 810.00 \r\n29,558.00 4,639.62 9,313.57 \r\n10,.,232.00 \r\n \r\n10,226.74 53,647.87 \r\n \r\n10,226.74 53,647.87 \r\n \r\n30,363.97 26,310.00 \r\n \r\n30,363.97 26,310.00 \r\n \r\n500.00 70,501.00 \r\n \r\n500.00 70,501.00 \r\n \r\n$ 9,486,210.37 $ 130,426.61 $ 9,616,636.98 \r\nSee notes to the general purpose financial statements. - 32- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nYEAR ENDED JUNE 30, 2000 \r\n \r\nSCHEDULE \"3\" \r\n \r\nPROJECT \r\nRetirement of the School District of the City of Vidalia General Obligation Bonds, Series 1995, in the maximum amount of $4,276,602.60. \r\nDevelopment of training and recreational facilities at Vidalia High School in the maximum amount of $1,006,739.60. \r\nRenovation of J. D. Dickerson School and Sally Meadows School in the maximum amount of $640,157.81. \r\nConstruction of science and technology laboratories at Vidalia High School in the maximum amount of $500,000.00 \r\nConstruction of joint football stadium with Toombs County Board of Education in the maximum amount of $1,000,000.00. \r\n \r\nORIGINAL ESTIMATED \r\nCOST (1),-- \r\n \r\nCURRENT ESTIMATED COSTS (2) \r\n \r\nAMOUNT EXPENDED IN CURRENT \r\nYEAR (3) \r\n \r\nAMOUNT EXPENDED \r\nIN PRIOR YEARS \r\n \r\n$ 4,276,602.60 $ 4,276,602.60 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n1,006,739.60 1,006,739.60 \r\n \r\n10,726.50 \r\n \r\n0.00 \r\n \r\n640,157.81 \r\n \r\n640,157.81 \r\n \r\n63,182.18 \r\n \r\n0.00 \r\n \r\n500,000.00 \r\n \r\n500,000.00 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n1,000,000.00 1,000,000.00 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n$ 7,423,500.01 $ 7,423,500.01 $ \r\n \r\n73,908.68 $ ====0..0..0= \r\n \r\n(1) The Board's original cost estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax. \r\n(2) The Board's current estimate of total cost for each project. Includes all cost from project inception to completion. \r\n(3) The voters of Toombs County approved the imposition of a 1% sales tax to fund the above projects. Amounts 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 general purpose financial statements. - 33- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 2000 \r\n \r\nSCHEDULE \"4\" \r\n \r\nMinimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis \r\nSalaries Operations \r\nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \r\nExpenditures per Audit \r\nAmount of Underexpenditure for Total Allotment \r\n \r\nFOURTEEN WEIGHTED AND MEDIA CENTER \r\nPROGRAMS \r\n \r\n100% TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS \r\n \r\n$ \r\n \r\n7,239,407.00 $ _ _-=20::...:7...:.;,5;;.;;9;.;;;6..:.:.0....::...0 \r\n \r\n$ \r\n \r\n7,759,828.83 \r\n \r\n529,823.99 $ _ _--:..47;..;:5:.!.:8,;;.;;0;.;;.9..:0.:.=2 \r\n \r\n$ \r\n \r\n8,289,652.82 \r\n \r\n-116,748.62 \r\n$ _ _.=.;8,!.:.17.:.:2:.z.:,9:.:0..:.;4.=20.::.. \r\n \r\n$ \r\n \r\n0.00 $ ====,.;;;0,;,;;.0=0 \r\n \r\n \r\n \r\nSee notes to the general purpose financial statements. - 35 - \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION TOOMBS COUNTY ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 2000 \r\n \r\nGENERAL AND CAREER EDUCATION PROGRAMS \r\n \r\nKindergarten (*) \r\n \r\nGrades 1 - 3 (') \r\n \r\nSub-Total - K-3 \r\n \r\nGrades 4 - 5 (*) \r\n \r\nGrades 6 - 8 (*) \r\n \r\nGrades 9 - 12 (*) \r\n \r\nHigh School Laboratories (*) \r\n \r\nVocational Education Laboratories (*J \r\n \r\nTotal General and Career Education Programs \r\n \r\nSPECIAL EDUCATION PROGRAMS \r\n \r\nRegular Programs Category I (*) Category II (*) Category III (*) Category IV (*J \r\n \r\nSub-Total - Regular \r\n \r\nCategory VI (Gifted) (*) \r\n \r\nTotal Special Education Programs \r\n \r\nREMEDIAL EDUCATION PROGRAM r1 \r\n \r\n \r\n \r\nTotal Fourteen Weighted Programs \r\n \r\nMEDIA CENTER PROGRAMS \r\n \r\nSalaries Operations \r\n \r\nTotal Media Center Programs \r\n \r\nALLOTMENTS FROM GEORGIA DEPARTMENT OF \r\n \r\nREQUIRED \r\n \r\nORIGINAL \r\n \r\n% \r\n \r\nORIGINAL \r\n \r\nMID-TERM \r\n \r\n$ \r\n \r\n630,740.00 \r\n \r\n$ \r\n \r\n567,666,00 $ \r\n \r\n-32,661.90 \r\n \r\n1,556,788.00 \r\n \r\n1,401,109.20 \r\n \r\n1,275.00 \r\n \r\n$ 2,187,528,00 90 $ 1,968,775.20 $ \r\n \r\n-31,386.90 \r\n \r\n719,080.00 90 \r\n \r\n647,172.00 \r\n \r\n13,967,00 \r\n \r\n1,279,328.00 90 \r\n \r\n1,151,395.20 \r\n \r\n-20,206.80 \r\n \r\n936,391.00 90 \r\n \r\n842,751.90 \r\n \r\n-85,750.20 \r\n \r\n333,648.00 90 \r\n \r\n300,283.20 \r\n \r\n14,464.00 \r\n \r\n328,299.00 90 \r\n \r\n295,469.10 \r\n \r\n162,218.40 \r\n \r\n$ 5,784,274.00 \r\n \r\n$ 5,205,846.60 $ _ _....;5~3~,3~0~5::..:5:,::::.0 \r\n \r\n$ \r\n \r\n742,462.00 \r\n \r\n$ \r\n \r\n668,215.80 $ \r\n \r\n78,423.00 \r\n \r\n$ \r\n \r\n742,462.00 90 $ \r\n \r\n668,215.80 $ \r\n \r\n78,423.00 \r\n \r\n126,750.00 90 \r\n \r\n114,075.00 \r\n \r\n176.00 \r\n \r\n$ \r\n \r\n869,212.00 \r\n \r\n$ \r\n \r\n782,290.80 $ _ _...:.7~8,.:::.59:::.::9:.:O:.~O \r\n \r\n$ \r\n \r\n278,206.00 90 $ \r\n \r\n250,385.40 $ _ _::::-6~7,c:.16~1~.6~0 \r\n \r\n$ 6,931,692.00 \r\n \r\n$ 6,238,522.80 $ _ _~6~4,~74::,:2:,;,:9. ~0 \r\n \r\n$ \r\n \r\n197,459.00 90 $ \r\n \r\n177,713.10 $ \r\n \r\n45,548,00 100 \r\n \r\n45,548.00 \r\n \r\n$ \r\n \r\n243,007.00 \r\n \r\n$ \r\n \r\n223,261. 10 $ \r\n \r\n-171.90 137.00 \r\n-:::3::::4;.9::.~0 \r\n \r\nTotal Fourteen Weighted and Media Center Programs $ 7,174,699.00 \r\n \r\n$ 6,461,783.90 $ ==.;;:6;;o4,.:.:70~8;;;;.0:;;:.0 \r\n \r\nSTAFF DEVELOPMENT PROGRAMS \r\nCost of Instruction Professional Development \r\n \r\n$ \r\n \r\n19,732.00 \r\n \r\n41,014.00 \r\n \r\n$ \r\n \r\n19,732.00 $ \r\n \r\n41,014.00 \r\n \r\n247.00 0.00 \r\n \r\nTotal Staff Development Programs (*) Identifies Fourteen Weighted Programs. \r\n \r\n$ \r\n \r\n60,746.00 100 $ \r\n \r\n60,746.00 $===~24;.;,7~.0~0 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 36 - \r\n \r\n SCHEDULE \"5\" \r\n \r\nEDUCATION TOTAL \r\nREQUIRED \r\n \r\nACTUAL EXPENDITURES \r\n \r\nSALARIES \r\n \r\nOPERATIONS \r\n \r\nTOTAL \r\n \r\nAMOUNT OF UNDEREXPENDITURE \r\nFOR REQUIRED ALLOTMENT \r\n \r\n$ \r\n \r\n535,004.10 $ \r\n \r\n575,890.78 $ \r\n \r\n22,835.24 $ \r\n \r\n598,726.02 \r\n \r\n1,402,384.20 \r\n \r\n1,404,179.99 \r\n \r\n84,966.21 \r\n \r\n1,489,146.20 \r\n \r\n$ 1,937,388.30 $ 1,980,070.77 $ \r\n \r\n107,801.45 $ 2,087,872.22 $ \r\n \r\n0.00 \r\n \r\n661,139.00 \r\n \r\n882,217.87 \r\n \r\n71,594.66 \r\n \r\n953,812.53 \r\n \r\n0.00 \r\n \r\n1,131,188.40 \r\n \r\n1,489,580.81 \r\n \r\n75,764.94 \r\n \r\n1,565,345.75 \r\n \r\n0.00 \r\n \r\n757,001.70 \r\n \r\n1,002,376.15 \r\n \r\n131,626.29 \r\n \r\n1,134,002.44 \r\n \r\n0.00 \r\n \r\n314,747.20 \r\n \r\n398,450.23 \r\n \r\n11,739.11 \r\n \r\n410,189.34 \r\n \r\n0.00 \r\n \r\n457,687.50 \r\n \r\n556,979.97 \r\n \r\n54,613.79 \r\n \r\n611,593.76 \r\n \r\n0.00 \r\n \r\n$ 5,259,152.10 $ 6,309,675.80 $ \r\n \r\n453,140.24 $ 6,762,816.04 \r\n \r\n$ \r\n \r\n746,638.80 \r\n \r\n$ \r\n \r\n150,826.42 $ 292,708.95 269,398.37 47,460.56 \r\n \r\n2,681.65 $ 9,218.61 2,789.05 1,398.87 \r\n \r\n153,508.07 301,927.56 272,187.42 48,859.43 \r\n \r\n$ \r\n \r\n746,638.80 $ \r\n \r\n760,394.30 $ \r\n \r\n16,088.18 $ \r\n \r\n776,482.48 \r\n \r\n0.00 \r\n \r\n114,251.00 \r\n \r\n112,106.42 \r\n \r\n3,415.38 \r\n \r\n115,521.80 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n860,889.80 $ \r\n \r\n872,500.72 $ \r\n \r\n19,503.56 $ _~8:.::.9:::.:2,.::.;00::,:4.::.2:::.,8 \r\n \r\n$ \r\n \r\n183,223.80 $ \r\n \r\n271,965.66 $ \r\n \r\n3, 165.22 $ _~2:.:..7~5,.:.:13::;:0:.:.:.8:.:.8 \r\n \r\n0.00 \r\n \r\n$ 6,303,265.70 $ 7,454,142.18 $ \r\n \r\n475,809.02 $ 7,929,951.20 \r\n \r\n$ \r\n \r\n177,541.20 $ \r\n \r\n305,686.65 \r\n \r\n$ \r\n \r\n305,686.65 \r\n \r\n0.00 \r\n \r\n45,685.00 _ _ _ _ _ _ $ _ _.::5.;.:4,.:;.01.:.;;4:.:.::.9:.:,.7 \r\n \r\n54,014.97 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n223,226.20 $ \r\n \r\n305,686.65 $ \r\n \r\n54,014.97 $ _ _:!:35~9~7,:,.::0:.,:.1~6.~2 \r\n \r\n, \r\n$ 6,526,491.90 $ \r\n \r\n7,759,828.83 $ \r\n \r\n529,823.99 $ 8,289,652.82 $ ======~O'';:;OO:;;. \r\n \r\n$ \r\n \r\n19,979.00 \r\n \r\n41,014.00 \r\n \r\n$ ==,;;,60;;.;,=99.3;;.;.0==0 \r\n \r\n$ \r\n \r\n21,108.27 $ \r\n \r\n21,108.27 \r\n \r\n40,351.58 \r\n \r\n40,351.58 \r\n \r\n$ \r\n \r\n61,459.85 $ \r\n \r\n61,459.85 $ ......= _ = =....~O~.O;,;;;,O \r\n \r\n 37  \r\n \r\n SECTIONTI COMPLIANCE AND INTERNAL CONTROL REPORTS \r\n \r\n \r\n RUSSELL W. HINTON \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W.. Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 22, 2001 \r\n \r\nHonorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members ofthe City of Vidalia Board of Education \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the financial statements ofCity ofVidalia Board ofEducation as ofand for the year ended June 30, 2000, and have issued our report thereon dated March 22, 2001. 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. \r\n \r\nCompliance \r\nAs part of obtaining reasonable assurance about whether City of Vidalia Board of Education's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions oflaws, 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 ofour tests disclosed no instances ofnoncompliance that are required to be reported under Government Auditing Standards. \r\nInternal Control Over Financial Reporting \r\nIn planning and performing our audit, we considered City of Vidalia 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. However, we noted a certain matter involving the internal control \r\n2000YB-40 \r\n \r\n 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 ofthe internal control over financial reporting that, in ourjudgment, could adversely affect City of Vidalia 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 ofFindings and Questioned Costs as item FS-7931-00-01. \r\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 considered to be a material weakness. \r\nThis report is intended solely for the information and use of management, members of the City of Vidalia 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. \r\nRespectfully submitted, \r\n \r\nRWH:gp 2000YB-40 \r\n \r\nRus ell W. Hinton State Auditor \r\n \r\n \r\n \r\n RUSSELL W. HINTON \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street. S.W.. Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 22, 2001 \r\n \r\nHonorable Roy E. Barnes, Governor \r\n \r\nMembers of the General Assembly \r\n \r\nMembers of the State Board of Education \r\n \r\nand \r\n \r\n. \r\n \r\nSuperintendent and Members of the \r\n \r\nCity of Vidalia Board of Education \r\n \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 \r\n \r\nLadies and Gentlemen: \r\n \r\nCompliance \r\n \r\nWe have audited the compliance ofCity ofVidalia Board ofEducation with the types ofcompliance \r\n \r\nu.s. requirements described in the \r\n \r\nOffice of Management and Budget (OMB) Circular A-I33 \r\n \r\nCompliance Supplement that are applicable to each ofits major Federal programs for the year ended \r\n \r\nJune 30, 2000. City of Vidalia Board of Education's major Federal programs are identified in the \r\n \r\naccompanying Schedule of Findings and Questioned Costs. Compliance with the requirements of \r\n \r\nlaws, regulations, contracts and grants applicable to each of its major Federal programs is the \r\n \r\nresponsibility ofCity ofVidalia Board ofEducation's management. Our responsibility is to express \r\n \r\nan opinion on City of Vidalia Board of Education's compliance based on our audit. \r\n \r\nWe conducted our audit ofcompliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits of States, 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 ofcompliance 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 City ofVidalia Board ofEducation'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 City ofVidalia Board of Education's compliance with those requirements. \r\n \r\n2000SA-IO \r\n \r\n In our opinion, the City of Vidalia Board of Education complied, in all material respects, with the requirements referred to above that are applicable to each ofits major Federal programs for the year ended June 30, 2000. \r\nInternal Control Over Compliance \r\nThe management of City of Vidalia 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 City ofVidalia 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-133. \r\nOur consideration ofthe 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 of risk 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 ofperforming their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses. \r\nThis report is intended solely for the information and use of management, members of the City of Vidalia 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. \r\nRespectfully submitted, \r\n \r\n \r\nRWH:gp \r\n2000SA-IO \r\n \r\nRu sell W. Hinton State Auditor \r\n \r\n SECTION ill \r\n \r\nAUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n CITY OF VIDALIA BOARD OF EDUCAnON - TOOMBS COUNTY AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2000 \r\n \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\nFS-7931-98-01 FS-7931-98-02 FS-7931-98-03 FS-7931-99-01 FS-7931-99-02 \r\n \r\nUnresolved - See Corrective Action/Responses Previously Reported Corrective Action Implemented Further Action Not Warranted Previously Reported Corrective Action Implemented Unresolved - See Corrective Action/Responses \r\n \r\nCORRECTIVE ACTIONIRESPONSES \r\n \r\n \r\n \r\nEXPENDITURESILIABILITIESIDISBURSEMENTS \r\n \r\nFailure to Meet Expenditure Requirements \r\n \r\nAmount: $893.75 \r\n \r\nFinding Control Number: FS-7931-98-01 \r\n \r\nA QBE analysis is performed monthly to prevent underexpenditure offunds. The $893.75 has not yet been returned to the Georgia Department ofEducation through an increase in the Local Five Mill Share. It is expected that this will take place in FY 2001. \r\n \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number: FS-7931-99-02 \r\n \r\nDue to current staffing limitations and budgetary considerations prohibiting the hiring of additional staff, the Board has decided not to pursue the recording ofGeneral Fixed Assets on the financial statements. The cost association with the procedure prohibits our system from eliminating this long existing finding. \r\n \r\n SECTION IV FINDINGS AND QUESTIONED COSTS \r\n  \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2000 \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n1. .TYPe of Report Issued on the Financial Statements The auditor's opinion on the City of Vidalia Board of Education's financial statements was qualified for various departures from generally accepted accounting principles. \r\n2. Reportable Conditions in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the City of Vidalia Board of Education disclosed a financial statement reportable condition related to the following control category. \r\n \r\nGeneral Fixed Assets \r\nThe reportable condition described above is considered to be a material weakness. \r\n3. Noncompliance Material to the Financial Statements The audit ofthe City ofVidalia Board ofEducation disclosed no instances ofnoncompliance that were deemed to be material to the financial statements. \r\n4. Reportable Conditions in Internal Control Over Maior Programs The audit report for the City of Vidalia Board of Education did not disclose any reportable conditions in internal control over major programs. \r\n5. Type of Report Issued on Compliance for Maior Programs The auditor's opinion on the City ofVidalia Board ofEducation's report on compliance with requirements applicable to major programs was unqualified. \r\n \r\n6. Audit Findings Required to be Reported by Section .51 O(a) of OMB Circular A-133 The City ofVidalia Board ofEducation's audit did not disclose audit findings required to be reported by section .510(a) ofOMB Circular A-133. \r\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 \r\n8. Type \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000.00. \r\n9. Low Risk Auditee The City ofVidalia Board of Education was audited as a low risk auditee based on a waiver granted by the U. S. Department of Education. \r\n \r\n- 1- \r\n \r\n CITY OF VIDALIA BOARD OF EDUCATION - TOOMBS COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2000 \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition - Material Weakness Repeated From Prior Year Finding Control Number: FS-7931-00-01 The City of Vidalia Board of Education 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 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 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 of all additions and deletions to the General Fixed Asset Account Group. \r\nill FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \r\nNo matters were reported. \r\n \r\n-2- \r\n \r\n "}],"pages":{"current_page":1,"next_page":null,"prev_page":null,"total_pages":1,"limit_value":10,"offset_value":0,"total_count":9,"first_page?":true,"last_page?":true},"facets":[{"name":"type_facet","items":[{"value":"Text","hits":9}],"options":{"sort":"count","limit":16,"offset":0,"prefix":null}},{"name":"creator_facet","items":[{"value":"Georgia. 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