{"response":{"docs":[{"id":"dlg_ggpd_y-ga-ba800-b-pr1-bv6-bc452-b2007-h2008","title":"Management report, Chattahoochee Technical College, Marietta, Georgia, an organizational unit of the state of Georgia, year ended June 30, 2008","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Cobb County, Marietta, 33.9526, -84.54993"],"dcterms_creator":["Georgia. Department of Audits and Accounts"],"dc_date":["2007/2008"],"dcterms_description":["Began with: Year ended June 30, 2001.","For some years, report may be issued instead called: Chattahoochee Technical College, Marietta, Georgia, report on review of the financial statements for the fiscal year ended ... or: Chattahoochee Technical College, Marietta, Georgia, independent accountant's report on applying agreed-upon procedures for the fiscal year ended ...","No further issues published after 2009, when Appalachian Technical College (Ga.), Chattahoochee Technical College (Ga.), and North Metro Technical College (Acworth, Ga.) merged to form a new institution that retained the name of Chattahoochee Technical College.","Description based on print version record."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, GA : Georgia. Dept. of Audits and Accounts, 2008-06-30"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Chattahoochee Technical College--Appropriations and expenditures","Education--Auditing--Georgia","Auditors' reports--Georgia"],"dcterms_title":["Management report, Chattahoochee Technical College, Marietta, Georgia, an organizational unit of the state of Georgia, 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-bv6-bc452-b2007-h2008"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-bv6-bc452-b2007-h2008"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"STATE OF GEORGIA \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\nMANAGEMENT REPORT CHATTAHOOCHEE TECHNICAL COLLEGE \r\nMARIETTA, GEORGIA \r\nAN ORGANIZATIONAL UNIT OF THE STATE OF GEORGIA YEAR ENDED JUNE 30, 2008 Russell W. Hinton State Auditor \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nLETTER OF TRANSMITTAL \r\n \r\nSELECTED FINANCIAL INFORMATION \r\n \r\nEXHIBITS \r\n \r\nA STATEMENT OF NET ASSETS - (GAAP BASIS) \r\n \r\n2 \r\n \r\nB STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS - \r\n \r\n(GAAP BASIS) \r\n \r\n3 \r\n \r\nC STATEMENT OF CASH FLOWS - (GAAP BASIS) \r\n \r\n4 \r\n \r\nD SELECTED FINANCIAL NOTES \r\n \r\n5 \r\n \r\nSUPPLEMENTARY INFORMATION \r\n \r\nSCHEDULES \r\n \r\n1 BALANCE SHEET- (STATUTORY BASIS)-BUDGET FUND \r\n \r\n16 \r\n \r\n2 SUMMARY BUDGET COMPARISON AND SURPLUS ANALYSIS REPORT \r\n \r\n(STATUTORY BASIS) BUDGET FUND \r\n \r\n17 \r\n \r\n3 STATEMENT OF PROGRAM REVENUES AND EXPENDITURES BY FUNDING \r\n \r\nSOURCE COMPARED TO BUDGET \r\n \r\n(STATUTORY BASIS) BUDGET FUND \r\n \r\n18 \r\n \r\n4 RECONCILIATION OF SALARIES AND TRAVEL \r\n \r\n20 \r\n \r\n5 RECONCILIATION OF PROFESSIONAL SERVICES \r\n \r\n21 \r\n \r\nSECTION II FINDINGS, QUESTIONED COSTS AND OTHER ITEMS SCHEDULE OF FINDINGS, QUESTIONED COSTS AND OTHER ITEMS \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\nNovember 6, 2008 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly of Georgia Members of the State Board of Technical and Adult Education Members of the Local Board of Directors \r\nand Honorable Kary B. Porter, Acting President Chattahoochee Technical College \r\nLadies and Gentlemen: \r\nAs part of our audit ofthe basic financial statements ofthe State ofGeorgia presented in the State of Georgia Comprehensive Annual Financial Report and the issuance of a State of Georgia Single Audit Report pursuant to the Single Audit Act Amendments, as of and for the year ended June 30, 2008, we have performed certain audit procedures at Chattahoochee Technical College. Accordingly, the financial statements and compliance activities ofChattahoochee Technical College were examined to the extent considered necessary in order to express an opinion as to the fair presentation ofthe financial statements contained in the foregoing documents and to issue reports on compliance and internal control as required by the Single Audit Act Amendments of 1996. \r\nThis Management Report contains information pertinent to the financial and compliance activities of Chattahoochee Technical College as ofand for the year ended June 30, 2008. Information contained in this report is a by-product ofour audit ofthe basic financial statements ofthe State ofGeorgia and is the representation of management. Accordingly, we do not express an opinion or any other form of assurance on it. The particular information provided which includes a section on findings and other items reported in accordance with Commission on Colleges regulation 2.11.1, is enumerated in the Table of Contents. \r\n \r\n This report is intended solely for the information and use of management of Chattahoochee Technical College, members of the Local Board of Directors, and the Southern Association of Colleges and Schools - Commission on Colleges 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, CPA, CGFM State Auditor \r\nRWH:gp \r\n \r\n SELECTED FINANCIAL INFORMATION - 1- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE STATEMENT OF NET ASSETS - (GAAP BASIS) \r\nJUNE 30, 2008 \r\nASSETS \r\nCurrent Assets Cash and Cash Equivalents Accounts Receivable Federal Financial Assistance Other \r\nTotal Current Assets \r\nNoncurrent Assets Capital Assets, Net \r\nTotal Assets \r\nLIABILITIES \r\nCurrent Liabilities Salaries Payable Accounts Payable Deferred Revenue Funds Held for Others Compensated Absences \r\nTotal Current Liabilities \r\nNoncurrent Liabilities Compensated Absences Deferred Revenue \r\nTotal Noncurrent Liabilities \r\nTotal Liabilities \r\nNET ASSETS \r\nInvested in Capital Assets, Net of Related Debt Un restricted \r\nTotal Net Assets \r\n \r\nEXHIBIT\"A\" \r\n \r\n$ \r\n \r\n3,610,241.59 \r\n \r\n94,672.20 319,945.35 \r\n \r\n$ \r\n \r\n4,024,859.14 \r\n \r\n28,143,024.12 \r\n$ 32,167,883.26 \r\n \r\n$ \r\n \r\n38,045.68 \r\n \r\n298,293.96 \r\n \r\n807,754.91 \r\n \r\n349,220.51 \r\n \r\n659,670.12 \r\n \r\n$ \r\n \r\n2,152,985.18 \r\n \r\n$ \r\n \r\n542,031.18 \r\n \r\n201,408.18 \r\n \r\n$ \r\n \r\n743,439.36 \r\n \r\n$ \r\n \r\n2,896,424.54 \r\n \r\n$ 28,143,024.12 \r\n1, 128,434.60 \r\n \r\n$ 29,271,458.72 \r\n \r\n-2 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS - (GAAP BASIS) \r\nYEAR ENDED JUNE 30, 2008 \r\n \r\nEXHIBIT\"B\" \r\n \r\nOPERATING REVENUES \r\nStudent Tuition and Fees Less: Scholarship Allowances \r\nGrants and Contracts Federal \r\nRents and Royalties Sales and Services of Educational Departments Other Operating Revenues \r\nTotal Operating Revenues \r\nOPERATING EXPENSES \r\nSalaries Benefits Travel Scholarships and Fellowships Utilities Supplies and Other Services Depreciation \r\nTotal Operating Expenses \r\nOperating Income (Loss) \r\nNONOPERATING REVENUES (EXPENSES) \r\nState Appropriations Grants and Contracts \r\nFederal State Local Nongovernmental Gifts Interest and Other Investment Income Other Nonoperating Revenues \r\nNet Nonoperating Revenues \r\nIncome (Loss) Before Other Revenues, Expenses, Gains, or Losses \r\nCapital Grants and Gifts State Gain/Loss on Disposal of Capital Assets \r\nTotal Other Revenues, Expenses, Gains, or Losses \r\nIncrease (Decrease) in Net Assets \r\nNet Assets - Beginning of Year, Restated \r\nNet Assets - End of Year \r\n \r\n$ \r\n \r\n8,128,511.53 \r\n \r\n-941,616.27 \r\n \r\n3,399,084.80 212,257.77 650,989.16 93,451.16 \r\n \r\n$ \r\n \r\n11,542,678.15 \r\n \r\n$ \r\n \r\n14,021,008.09 \r\n \r\n4,211,749.86 \r\n \r\n184,049.61 \r\n \r\n2,353,459.73 \r\n \r\n1,017,169.35 \r\n \r\n3,759,918.83 \r\n \r\n1,408,258.86 \r\n \r\n$ \r\n \r\n26,955,614.33 \r\n \r\n$ \r\n \r\n-15,412,936.18 \r\n \r\n$ \r\n \r\n13,093,536.39 \r\n \r\n1,070,946.70 877,507.36 195,260.47 6,500.00 908,708.07 86,782.06 -908 708.07 \r\n \r\n$ \r\n \r\n15,330,532.98 \r\n \r\n$ \r\n \r\n-82,403.20 \r\n \r\n$ \r\n \r\n1,052,989.06 \r\n \r\n-11,225.25 \r\n \r\n$ \r\n \r\n1,041 763.81 \r\n \r\n$ \r\n \r\n959,360.61 \r\n \r\n28,312,098.11 \r\n \r\n$ ===29=l'=27=1a!:.4=5=8.=7=2 \r\n \r\n-3- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE STATEMENT OF CASH FLOWS - (GAAP BASIS) \r\nYEAR ENDED JUNE 30, 2008 \r\nCASH FLOWS FROM OPERATING ACTIVITIES Tuition and Fees Grants and Contracts Sales and Services of Educational Departments Payments to Suppliers Payments to Employees Payments for Scholarships and Fellowships Other Receipts (Payments) \r\nNet Cash Provided (Used) by Operating Activities \r\nCASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES State Appropriations Agency Funds Transactions Gifts and Grants Received for Other than Capital Purposes \r\nNet Cash Flows Provided (Used) by Noncapital Financing Activities \r\nCASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchases of Capital Assets \r\nCASH FLOWS FROM INVESTING ACTIVITIES Interest on Investments \r\nNet Increase (Decrease) in Cash \r\nCash and Cash Equivalents - Beginning of Year \r\nCash and Cash Equivalents - End of Year \r\nRECONCILIATION OF OPERATING LOSS TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES: \r\nOperating Income (Loss) Adjustments to Reconcile Net Income (Loss) to Net Cash \r\nProvided (Used) by Operating Activities Depreciation Change in Assets and Liabilities: Accounts Receivable Accounts Payable Salaries Payable Deferred Revenue Compensated Absences \r\nNet Cash Provided (Used) by Operating Activities \r\nNONCASH ACTIVITY Gift of Capital Assets Reducing Proceeds of Capital Grants and Gifts \r\n \r\nEXHIBIT\"C\" \r\n \r\n$ \r\n \r\n7,649,316.28 \r\n \r\n3,399,084.80 \r\n \r\n650,989.16 \r\n \r\n-9,169,503.77 \r\n \r\n-13,891,163.33 \r\n \r\n-2,353,459.73 \r\n \r\n305 708.93 \r\n \r\n$ -13,409,027.66 \r\n \r\n$ \r\n \r\n13,093,536.39 \r\n \r\n-46,006.11 \r\n \r\n2,291,470.81 \r\n \r\n$ \r\n \r\n15,339,001.09 \r\n \r\n$ \r\n \r\n-632 734.99 \r\n \r\n$ \r\n \r\n86,782.06 \r\n \r\n$ \r\n \r\n1,384,020.50 \r\n \r\n2,226,221.09 \r\n \r\n$ ===l3,=61..,0:!:,2=4=1.=59= \r\n \r\n$ \r\n \r\n-15,412,936.18 \r\n \r\n1,408,258.86 \r\n178,062.41 21,191.86 14,454.70 \r\n284,358.61 97 582.08 \r\n \r\n$ ==-1=3'=4=09=,0=2=7=.6=6 \r\n \r\n$ ===1,..,0=52=,9=8=9=.0=6 \r\n \r\n-4 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2008 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nREPORTING ENTITY Chattahoochee Technical College is one of thirty-three (33) State supported member colleges of postsecondary education in Georgia which comprise the Georgia Department ofTechnical and Adult Education, an organizational unit of the State of Georgia. The accompanying financial statements reflect the operations of Chattahoochee Technical College as a separate reporting entity. \r\nThe Technical College's Local Board of Directors is composed of ten (10) members serving staggered three-year terms who are appointed by the State Board ofTechnical and Adult Education. Appropriation of State funds is made to the Georgia Department of Technical and Adult Education by the General Assembly of Georgia. The Department's Administrative Central Office determines the amount of State appropriations to be received by Chattahoochee Technical College. The Technical College does not have authority to retain unexpended State appropriations (surplus) for any given fiscal year. Accordingly, Chattahoochee Technical College is considered an organizational unit of the Georgia Department of Technical and Adult Education for financial reporting purposes because ofthe significance of its legal, operational, and financial relationships as defined in Section 2100 ofthe Governmental Accounting Standards Board (GASB) Codification of Governmental Accounting and Financial Reporting Standards. \r\nNET ASSETS The Technical College's net assets are classified as follows: \r\nInvested in capital assets, net ofrelated debt: This amount represents the Technical College's total investment in capital assets, net of outstanding debt obligations related to those capital assets. To the extent debt has been incurred but not yet expended for capital assets, such amounts are not included as a component of invested in capital assets, net of related debt. \r\nUnrestricted net assets: Unrestricted net assets represent available resources derived from student tuition and fees, state appropriations, and sales and services of educational departments. These resources will be used for transactions relating to the educational and general operations of the Technical College, and may be used at the discretion of the governing board to meet subsequent fiscal year expenses for those purposes, except for unexpended state appropriations (surplus) of $36,382.14. Unexpended state appropriations must be refunded to the Department ofTechnical and Adult Education for remittance to the Office of Treasury and Fiscal Services. \r\nWhen an expense is incurred that can be paid using either restricted or unrestricted resources, the Technical College's policy is to first apply the expense towards unrestricted resources, and then towards restricted resources. \r\nRESTATEMENT OF PRIOR YEAR NET ASSETS For fiscal year 2008, the Technical College restated Capital Assets due to an error in the prior year amounts for equipment and related accumulated depreciation. The Technical College increased \r\n \r\n-5 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2008 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nRESTATEMENT OF PRIOR YEAR NET ASSETS equipment and related accumulated depreciation by $94,898.59 and $88,014.70, respectively. The result is an increase in Net Assets at July 1, 2007 of $6,883.89. \r\nNOTE 2: DEPOSITS \r\nDEPOSITS The custodial credit risk for deposits is the risk that in the event of a bank failure, the Technical College's deposits may not be recovered. Funds belonging to the State of Georgia (and thus the Technical College) cannot be placed in a depository paying interest longer than ten days without the depository providing a surety bond to the State. In lieu ofa surety bond, the depository may pledge as collateral any one or more of the following securities as enumerated in the Official Code of Georgia Annotated Section 50-17-59: \r\n1. Bonds, bills, certificates of indebtedness, notes, or other direct obligations of the United States or of the State of Georgia. \r\n2. Bonds, bills, certificates of indebtedness, notes, or other obligations of the counties or municipalities of the State of Georgia. \r\n3. 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\n4. Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia. \r\n5. Bonds, bills, certificates of indebtedness, notes, or other obligations of a subsidiary corporation ofthe 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\n6. Guarantee or insurance of accounts provided by the Federal Deposit Insurance Corporation. \r\nAs authorized in the Official Code of Georgia Annotated Section 50-17-53, the State Depository Board has adopted policies, which allows agencies ofthe State of Georgia (and thus Chattahoochee Technical College), the option of exempting demand deposits from the collateral requirements. \r\nAt June 30, 2008, the carrying value of deposits was $3,608,806.59 and the bank balance was $4,574,137.53. Of the Technical College's deposits, $4,329,290.59 were uninsured. Of these uninsured deposits, $343,640.71 were collateralized with securities held by the financial institution's \r\n-6 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2008 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 2: DEPOSITS \r\n \r\nDEPOSITS trust department or agent in the Technical College's name, and $3,985,649.88 were collateralized with securities held by the financial institution, by its trust department or agency, but not in the Technical College's name. \r\n \r\nNOTE 3: ACCOUNTS RECEIVABLE \r\n \r\nAccounts receivable at June 30, 2008, consists of the following: \r\n \r\nStudent Tuition and Fees Federal, State and Private Funds GSFIC \r\n \r\n$ 89,725.25 160,875.31 164,016.99 \r\n \r\nTotal Accounts Receivable \r\n \r\n$ 414,617.55 \r\n \r\nNOTE 4: CAPITAL ASSETS \r\n \r\nFollowing are the changes in capital assets for the year ended June 30, 2008: \r\n \r\nBalance July 1, 2007 (Restated} \r\n \r\nAdditions \r\n \r\nReductions \r\n \r\nBalance June 30, 2008 \r\n \r\nCapital Assets, Not Being Depreciated: \r\n \r\nLand and Land Improvements \r\n \r\n$ 3,2 I 1,504.50 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ 3,211,504.50 \r\n \r\nCapital Assets, Being Depreciated: Building and Building Improvements Improvements Other Than Buildings Equipment Library Collections \r\n \r\n$ 26,143,607.00 2,175,893.23 $ 5,683,691.81 834,809.52 \r\n \r\n97,000.00 1,526,296.43 $ \r\n62,427.62 \r\n \r\n$ 26,143,607.00 \r\n \r\n2,272,893.23 \r\n \r\n821,313.88 6,388,674.36 \r\n \r\n172,048.53 \r\n \r\n725,188.61 \r\n \r\n$ 34,838,001.56 $ 1,685,724.05 $ 993,362.41 $ 35,530,363.20 \r\n \r\nLess: Accumulated Depreciation: \r\n \r\nBuilding and Building Improvements $ 4,288,259.35 $ \r\n \r\nImprovements Other Than Buildings \r\n \r\n1,300,526.35 \r\n \r\nEquipment \r\n \r\n4,029,291.39 \r\n \r\nLibrary Collections \r\n \r\n554,644.79 \r\n \r\n597,788.46 144,404.04 598,282.72 $ 67,783.64 \r\n \r\n$ 4,886,047.81 \r\n \r\n1,444,930.39 \r\n \r\n810,088.63 3,817,485.48 \r\n \r\n172,048.53 \r\n \r\n450,379.90 \r\n \r\n$ 10,172,721.88 $ 1,408,258.86 $ 982,137.16 $ 10,598,843.58 \r\n \r\nTotal Capital Assets, Being Depreciated, \r\n \r\nNet \r\n \r\n$ 24,665,279.68 $ 277 465.19 $ \r\n \r\n11,225.25 $ 24,931,519.62 \r\n \r\nCapital Assets, Net \r\n \r\n$ 27,876,784,18 $ 277,465.19 $ 11 225.25 $ 28,143,Q24.12 \r\n \r\n-7- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2008 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 5: DEFERRED REVENUE \r\n \r\nDeferred revenue at June 30, 2008, consists of the following: \r\n \r\nPrepaid Tuition and Fees Federal Grants and Contracts \r\n \r\n$ 807,754.91 201,408.18 \r\n \r\nTotals \r\n \r\n$ 1,009,163.09 \r\n \r\nNOTE 6: LONG-TERM LIABILITIES \r\n \r\nLong-Term liability activity for the year ended June 30, 2008 was as follows: \r\n \r\nOther Liabilities Compensated Absences \r\n \r\nBalance July 1, 2007 \r\n \r\nAdditions \r\n \r\nReductions \r\n \r\nBalance June 30, 2008 \r\n \r\nCurrent Portion \r\n \r\n$ 1,104 I 19.22 $ 947 940.87 $ 850,358.79 $ 1,201,701.30 $ 659,670.12 \r\n \r\nNOTE 7: NET ASSETS \r\n \r\nChanges in Net Asset activity for the year ended June 30, 2008 was as follows: \r\n \r\nInvested in Capital Assets Net of Related Debt \r\nRestricted Net Assets \r\nUnrestricted Net Assets \r\nTotal Net Assets \r\n \r\nBalance July 1, 2007 (Restated} \r\n \r\nAdditions \r\n \r\nReductions \r\n \r\nBalance June 30, 2008 \r\n \r\n$27,876,784.18 $ 277,465.19 $ 11,225.25 $28,143,024.12 \r\n \r\n0.00 \r\n \r\n4,470,031.50 \r\n \r\n4,470,031.50 \r\n \r\n0.00 \r\n \r\n435,313.93 23,444,943.44 22,751,822.77 \r\n \r\n1,128,434.60 \r\n \r\n$ 28 312,098.11 $28122440.13 $ 27 233 012.52 $ 22 271,458.72 \r\n \r\nNOTE 8: LEASE OBLIGATIONS \r\n \r\nOPERATING LEASES Chattahoochee Technical College has entered into certain a certain agreement to lease equipment which is classified as operating leases (leases on assets not recorded on the balance sheet). These leases generally contain provisions that, at the expiration date of the original term of the lease, the Technical College has the option of renewing the lease on a year-to-year basis. Amounts are included only for multi-year leases and for cancelable leases for which an option to renew for the subsequent fiscal year has been exercised. \r\n \r\nExpenses for rental of equipment under operating leases for the year ended June 30, 2008, totaled $49,788.24. \r\n \r\n-8- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2008 \r\n \r\nEXHIBIT\"D\" \r\n \r\nNOTE 8: LEASE OBLIGATIONS \r\n \r\nSUMMARY OF LEASE OBLIGATIONS Future commitments for noncancellable operating leases having remaining terms in excess of one year as of June 30, 2008, were as follows: \r\n \r\nOperating Leases \r\n \r\nYear Ending June 30: 2009 \r\n \r\n$ 43,098.00 \r\n \r\nNOTE 9: RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA \r\n \r\nPlan Description Chattahoochee Technical College participates in the Teachers Retirement System ofGeorgia (TRS), a cost-sharing multiple-employer defined benefit pension plan established by the General Assembly ofGeorgia for the purpose ofproviding retirement allowances and other benefits for teachers ofthe State ofGeorgia. TRS provides service retirement, disability retirement, and survivor's 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\nFunding Policy Employees of Chattahoochee Technical College who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. Chattahoochee Technical College makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. For fiscal year 2008, the employer contribution rate was 9.28% for covered employees. 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\n2008 2007 2006 \r\n \r\n100% 100% 100% \r\n \r\n$ 591,896.52 $ 606,967.75 $ 579,142.95 \r\n \r\n-9- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2008 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 9: RETIREMENT PLANS \r\nEMPLOYEES' RETIREMENT SYSTEM OF GEORGIA \r\nPlan Description Chattahoochee Technical College participates in the Employees' Retirement System of Georgia (ERS), a single-employer defined benefit pension plan established by the General Assembly of Georgia for the purpose ofproviding retirement allowances for employees of the State of Georgia. \r\nRetirement benefits paid to members are based upon a formula which considers the monthly average ofthe member's highest twenty-four consecutive calendar months of salary, the number ofyears of creditable service, and the member's age at retirement. Postretirement cost-of-living adjustments are also made to member's benefits. The normal retirement pension is payable monthly for life; however, options are available for distribution ofthe member's monthly pension at reduced rates to a designated beneficiary upon the member's death. Death and disability benefits are also available through ERS. \r\nIn addition, the ERS Board of Trustees created the Supplemental Retirement Benefit Plan (SRBP) effective January 1, 1998. The SRBP was established as a qualified governmental excess benefit plan in accordance with Section 415 ofthe Internal Revenue Code (IRC) as a portion ofERS. The purpose ofSRBP is to provide retirement benefits to employees covered by ERS whose benefits are otherwise limited by IRC 415. \r\nFunding Policy As established by State statute, all full-time employees of the State of Georgia and its political subdivisions, who are not members ofother state retirement systems, are eligible to participate in the ERS. Both employer and employee contributions are established by State statute. The Technical College's payroll for the year ended June 30, 2008, for employees covered by ERS was $4,552,065.00. The Technical College's total payroll for all employees was $14,021,008.09. \r\nUnder the old plan, member contributions consist of 6.5% of annual compensation. Of these member contributions, the employee pays the first 1.5% and the Technical College pays the remainder on behalf of the employee. Under the new plan, member contributions consist solely of 1.5% of annual compensation paid by employee. The Technical College also is required to contribute at a specified percentage of active member payroll determined annually by actuarial valuation. For the year ended June 30, 2008, the ERS employer contribution rate for the Technical College amounted to 10.41% ofcovered payroll. Chattahoochee Technical College did not have any employees covered by the old plan referred to above. Employer contributions are also made on amounts paid for accumulated leave to retiring employees. \r\nTotal contributions to the plan made during fiscal year 2008 amounted to $542,138.47, of which $473,870.49 was made by the Technical College and $68,267.98 was made by employees. These contributions met the requirements of the plan. \r\n \r\n- 10 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2008 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 9: RETIREMENT PLANS \r\nGEORGIA DEFINED CONTRIBUTION PLAN \r\nPlan Description Chattahoochee Technical College participates in the Georgia Defined Contribution Plan (GDCP) which is a single-employer defined contribution plan established by the General Assembly of Georgia for the purpose ofproviding retirement coverage for State employees who are temporary, seasonal, and part-time and are not members of a public retirement or pension system. GDCP is administered by the Board of Trustees of the Employees' Retirement System of Georgia. \r\nBenefits A member may retire and elect to receive periodic payments after attainment of age 65. The payment will be based upon mortality tables and interest assumptions to be adopted by the Board of Trustees. If a member has less than $3,500.00 credited to his/her account, the Board ofTrustees has the option ofrequiring a lump sum distribution to the member in lieu ofmaking periodic payments. Upon the death of a member, a lump sum distribution equaling the amount credited to his/her account will be paid to the member's designated beneficiary. Benefit provisions are established by State statute. \r\nThe Employees' Retirement System ofGeorgia issues a financial report each fiscal year which may be obtained through ERS. \r\nContributions and Vesting Member contributions are seven and one-halfpercent (7.5%) ofgross salary. There are no employer contributions. Contribution rates are established by State statute. Earnings are credited to each member's account in a manner established by the Board of Trustees. Upon termination of employment, the amount of the member's account is refundable upon request by the member. The Technical College's payroll for the year ended June 30, 2008, for employees covered by GDCP was $2,251,567.00. The Technical College's total payroll for all employees was $14,021,008.09. \r\nTotal contributions made by employees during fiscal year 2008 amounted to $168,867.51 which represents 7.5% of covered payroll. These contributions met the requirements of the plan. \r\nNOTE 10: POSTEMPLOYMENT BENEFITS \r\nThe Technical College participates in the Georgia Retiree Health Benefit Fund (\"GRHBF\") which is a cost-sharing multiple-employer defined benefit postemployment healthcare plan that covers retired employees ofthe State of Georgia. GRHBF provides health insurance benefits to eligible retirees and their qualified beneficiaries. \r\nPursuant to Title 45, Chapter 18 of O.C.G.A., the authority to establish and amend the benefit provisions of the plan is assigned to the Board of Community Health (\"Board\"). Financial \r\n \r\n- 11 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2008 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 10: POSTEMPLOYMENT BENEFITS \r\nstatements and required supplementary information for GRHBF are included in the publicly available financial report of the Department of Community Health. \r\nThe Technical College contributes to the fund based upon amounts recommended by the Board and set forth in the Appropriations Act. This contribution rate is established to fund both the active and retired employee health insurance plans based on projected pay-as-you-go financing requirements. The combined rate for the active and retiree plans (pay-as-you-go basis) for the fiscal year ended June 30, 2008, was 18.534% of covered payroll. An additional contribution of 4.309% of covered payroll was required by the Board for fiscal year 2008; eleven months ofthis additional contribution will be deposited into the OPEB fund to prefund retiree benefits (such additional contribution amounts are determined annually). The Technical College's contribution to the health insurance plan for the fiscal year ended June 30, 2008, was $2,532,251.69, which equaled the required contribution. \r\nThe Technical College also participates in a program of group term life insurance for retired and vested inactive eligible members of various retirement systems. The State Employees' Assurance Department (\"SEAD-OPEB\") is a single-employer defined benefit postemployment plan. \r\nPursuant to Title 47 ofthe Official Code of Georgia Annotated, the authority to establish and amend the benefit provisions of the plan is assigned to the Boards of Trustees of the Employees' and Judicial Retirement Systems. Financial statements and required supplementary information for SEAD-OPEB are included in the publicly available financial report of the Employees' Retirement System. \r\nThe Technical College is required to contribute the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with the parameters ofGASB Statement 45. The ARC for the year ended June 30, 2008, was zero (0). \r\nNOTE 11: RISK MANAGEMENT \r\nPublic Entity Risk Pool The Department of Community Health (DCH) administers for the State of Georgia a program of health benefits for the employees of units of government of the State of Georgia, units of county governments, and local education agencies located with the State of Georgia. This plan is funded by participants covered in the plan, by employers' contributions paid by the various units ofgovernment participating in the plan, and appropriations made by the General Assembly of Georgia. DCH contracted with United Healthcare to process medical claims. For prescription drug claims, DCH contracted with Express Scripts, Incorporated through December 31, 2007 and contracted with Medco, Incorporated beginning January 1, 2008. All claims are to be processed in accordance with the State Employees' Health Benefit Plan as established by the Department of Community Health. \r\n \r\n- 12 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2008 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 11: RISK MANAGEMENT \r\nOther Risk Management The Department ofAdministrative Services (DOAS) has the responsibility for the State ofGeorgia ofmaking and carrying out decisions that will minimize the adverse effects ofaccidental losses that involve State government assets. The State believes it is more economical to manage its risks internally and set aside assets for claim settlement. Accordingly, DOAS processes claims for risk of loss to which the State is exposed, including general liability, property and casualty, workers' compensation, unemployment compensation, and law enforcement officers' indemnification. Limited amounts of commercial insurance are purchased applicable to property, employee and automobile liability, fidelity and certain other risks. The Technical College, as an organizational unit of the Georgia Department of Technical and Adult Education, is part of the State of Georgia reporting entity, and as such, is covered by the State of Georgia risk management program administered by DOAS. Premiums for the risk management program are charged to the various state organizations by DOAS to provide claims servicing and claims payment. \r\nNOTE 12: CONTINGENCIES \r\nAmounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies. This could result in refunds to the grantor agency for any expenses which are disallowed under grant terms. The amount of expenses which may be disallowed by the grantor cannot be determined at this time although Chattahoochee Technical College expects such amounts, ifany, to be immaterial to its overall financial position. \r\nLitigation, claims and assessments filed against Chattahoochee Technical College (an organizational unit of the Department of Technical and Adult Education), if any, are generally considered to be actions against the State of Georgia. Accordingly, significant litigation, claims and assessments pending against the State of Georgia are disclosed in the State of Georgia Comprehensive Annual Financial Report for the fiscal year ended June 30, 2008. \r\nNOTE13: SUBSEOUENTEVENT \r\nDuring October 2008, the State Board of Technical and Adult Education voted to merge Chattahoochee Technical College with North Metro Technical College and Appalachian Technical College effective July 1, 2009. \r\nNOTE 14: AFFILIATED ORGANIZATIONS \r\nThe Chattahoochee Technical College Foundation, Inc., is a legally separate, tax exempt organization whose activities primarily support Chattahoochee Technical College. This affiliated organization is considered a potential component unit of the State of Georgia in accordance with GASB Statement No. 39, Determining Whether Certain Organizations are Component Units. Therefore, the financial statements of these affiliated organizations are not included in these financial statements. Copies of the financial statements for the affiliated organizations may be obtained from Chattahoochee Technical College. \r\n- 13 - \r\n \r\n (This page left intentionally blank) \r\n \r\n SUPPLEMENTARY INFORMATION - 15 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE BALANCE SHEET (STATUTORY BASIS) BUDGET FUND JUNE 30, 2008 \r\nASSETS \r\nCash and Cash Equivalents Accounts Receivable \r\nFederal Financial Assistance Other \r\nTotal Assets \r\nLIABILITIES AND FUND EQUITY \r\nLiabilities Salaries Payable Accounts Payable Encumbrances Payable Deferred Revenue \r\nTotal Liabilities \r\nFund Balances Reserved Federal Financial Assistance Local Grants and Contracts Live Works Projects Prior Year Local Funds Sales and Services Technology Fees Continuing Education Unreserved Surplus \r\nTotal Fund Balances \r\nTotal Liabilities and Fund Balances \r\n \r\nSCHEDULE \"1\" \r\n \r\n$ \r\n \r\n3,546,191.37 \r\n \r\n128,438.45 154,550.36 \r\n \r\n$ ====3,=82=9=,1=80=.1=8= \r\n \r\n$ \r\n \r\n38,397.68 \r\n \r\n441,814.64 \r\n \r\n1,270,271.58 \r\n \r\n781,139.39 \r\n \r\n$ \r\n \r\n2,531,623.29 \r\n \r\n$ \r\n \r\n2,074.80 \r\n \r\n130,895.03 \r\n \r\n121,584.04 \r\n \r\n71,205.80 \r\n \r\n36,881.55 \r\n \r\n530,421.18 \r\n \r\n368,112.35 \r\n \r\n36,382.14 \r\n \r\n$ \r\n \r\n1,297,556.89 \r\n \r\n$ ====3,=82=9=,1=80=.1=8= \r\n \r\nStatutory Basis financial information was prepared on a prescribed basis of accounting that demonstrates compliance with budgetary statutes and regulations of the State of Georgia, which is a comprehensive basis of accounting other than generally accepted accounting principles. \r\n- 16 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SUMMARY BUDGET COMPARISON AND SURPLUS ANALYSIS REPORT (STATUTORY BASIS) \r\nBUDGET FUND YEAR ENDED JUNE 30, 2008 \r\n \r\nSCHEDULE \"2\" \r\n \r\nREVENUES \r\nState Appropriation State General Funds \r\nFederal Funds Other Funds \r\nTotal Revenues \r\nCARRY-OVER FROM PRIOR YEAR \r\nTransfer from Reserved Fund Balance \r\nTotal Funds Available \r\nEXPENDITURES \r\nEconomic Development Technical Education \r\nTotal Expenditures \r\nExcess of Funds Available over Expenditures \r\nFUND BALANCE JULY 1 \r\nReserved Unreserved \r\nADJUSTMENTS \r\nPrior Year Payables/Expenditures Prior Year Receivables/Revenues Unreserved Fund Balance (Surplus) Returned \r\nto Georgia Department of Technical and Adult Education Year Ended June 30, 2007 \r\nPrior Year Reserved Fund Balance Included in Funds Available \r\nFUND BALANCE JUNE 30 \r\nSUMMARY OF FUND BALANCE \r\nReserved Federal Financial Assistance Local Grants and Contracts Live Works Projects Prior Year Local Funds Sales and Services Technology Fees Continuing Education \r\nTotal Reserved \r\nUnreserved Surplus \r\nTotal Fund Balance \r\n \r\nBUDGET \r\n \r\nACTUAL \r\n \r\nVARIANCEFAVORABLE (UNFAVORABLE) \r\n \r\n$ \r\n \r\n13,103,558.00 $ \r\n \r\n13,103,558.00 $ \r\n \r\n0.00 \r\n \r\n1,178,780.11 \r\n \r\n1,111,138.06 \r\n \r\n-67,642.05 \r\n \r\n11 865 011.33 \r\n \r\n9,804,397.29 \r\n \r\n-2 060 614.04 \r\n \r\n$ \r\n \r\n26,147,349.44 $ \r\n \r\n24,019,093.35 $ \r\n \r\n-2, 128,256.09 \r\n \r\n0.00 \r\n \r\n1 291 675.58 \r\n \r\n$ \r\n \r\n26 147 349.44 $ \r\n \r\n25,310,768.93 $ \r\n \r\n1 291 675.58 -836 580.51 \r\n \r\n$ \r\n \r\n73,669.00 $ \r\n \r\n35,215.00 $ \r\n \r\n26 073 680.44 \r\n \r\n23,963,245.80 \r\n \r\n$ \r\n \r\n26 147 349.44 $ \r\n \r\n23,998,460.80 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n1,312,308.13 $ \r\n \r\n38,454.00 2 110434.64 \r\n2,148,888.64 \r\n1,312,308.13 \r\n \r\n1,291,675.58 10,021.61 \r\n \r\n7,614.72 -22,365.96 \r\n \r\n-10,021.61 -1 291 675.58 \r\n \r\n$ \r\n \r\n1 297 556.89 \r\n \r\n$ \r\n \r\n2,074.80 \r\n \r\n130,895.03 \r\n \r\n121,584.04 \r\n \r\n71,205.80 \r\n \r\n36,881.55 \r\n \r\n530,421.18 \r\n \r\n368 112.35 \r\n \r\n$ \r\n \r\n1,261,174.75 \r\n \r\n36 382.14 \r\n \r\n$ \r\n \r\n1 297 556.89 \r\n \r\nStatutory Basis financial information was prepared on a prescribed basis of accounting that demonstrates compliance with budgetary statutes and regulations of the State of Georgia, which is a comprehensive basis of accounting other than generally accepted accounting principles. \r\n- 17 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE STATEMENT OF PROGRAM REVENUES AND EXPENDITURES BY FUNDING SOURCE COMPARED TO BUDGET \r\n(STATUTORY BASIS) BUDGET FUND YEAR ENDED JUNE 30, 2008 \r\n \r\nEconomic Development Other Funds \r\n \r\nOriginal Appropriation \r\n \r\n$ \r\n \r\n30 200.00 $ \r\n \r\nFinal Budget \r\n \r\nCurrent Year Revenues \r\n \r\nFunds Available Comeared to Budget \r\n \r\nPrior Year Carry~Over \r\n \r\nTotal Funds Available \r\n \r\nVariance Positive (Negative) \r\n \r\n73 669.00 $ \r\n \r\n40 626.73 $ \r\n \r\n31 469.82 $ \r\n \r\n72 096.55 $ \r\n \r\n-1 572.45 \r\n \r\nTechnical Education State Appropriation State General Funds Federal Funds Other Funds \r\nTotal Technical Education \r\n \r\n$ \r\n \r\n12,963,559.00 \r\n \r\n966,926.00 \r\n \r\n10 243 621.00 \r\n \r\n13,103,558.00 $ 1,178,780.11 11 791 342.33 \r\n \r\n13,103,558.00 $ 1,111,138.06 9 763 770.56 \r\n \r\n$ \r\n \r\n24 174106.00 $ \r\n \r\n26,073,680.44 $ \r\n \r\n23,978,466.62 $ \r\n \r\n0.00 $ 0.00 1260205.76 \r\n1260205.76 $ \r\n \r\n13,103,558.00 $ 1,111,138.06 \r\n11 023 976.32 \r\n \r\n0.00 -67,642.05 -767 366.01 \r\n \r\n25 238 672.38 $ -835 008.06 \r\n \r\nGrand Totals All Programs \r\n \r\n$ \r\n \r\n24,204,306.00 $ \r\n \r\n26,147,349.44 $ \r\n \r\n24,019,093.35 $ \r\n \r\n1,291,675.58 $ \r\n \r\n25,310,768.93 $ -836,580.51 \r\n \r\nStatutory Basis financial information was prepared on a prescribed basis of accounting that demonstrates compliance with budgetary statutes and regulations of the State of Georgia, which is a comprehensive basis of accounting other than generally accepted accounting principles. \r\n-18- \r\n \r\n SCHEDULE \"3\" \r\n \r\nExeenditures Comeared to Budget \r\n \r\nVariance \r\n \r\nPositive \r\n \r\nActual \r\n \r\n{Negative) \r\n \r\nActual Funds Available \r\nOver/(Under) Expenditures \r\n \r\nPrior Period Adjustments \r\n \r\nOther Adiustments \r\n \r\nTotal Program \r\nFund Balances \r\n \r\nTransfers \r\n \r\nProgram Fund Balances \r\n \r\nReserve \r\n \r\nSurplus \r\n \r\nTotal \r\n \r\n$ \r\n \r\n35 215.00 $ \r\n \r\n38 454.00 $ \r\n \r\n36 881.55 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n36 881.55 $ \r\n \r\n0.00 $ \r\n \r\n36 881.55 $ \r\n \r\n0.00 $ 36 881.55 \r\n \r\n$ 13,079,168.96 $ \r\n \r\n24,389.04 $ \r\n \r\n24,389.04 $ \r\n \r\n0.00 \r\n \r\n1,111,138.06 \r\n \r\n67,642.05 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n9 772 938.78 \r\n \r\n2,018,403.55 \r\n \r\n1 251,037.54 \r\n \r\n-14 751.24 \r\n \r\n$ 23,963,245.80 $ 2110 434.64 $ 1,275,426.58 $ -14 751.24 $ \r\n \r\n$ 23,998,460.80 $ 2,148,888.64 $ 1,312,308.13 $ -14,751.24 $ \r\n \r\n0.00 $ 0.00 0.00 \r\n \r\n24,389.04 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n1 236,286.30 __Q,QQ_ \r\n \r\n0.00 $ 0.00 1 224,293.20 \r\n \r\n24,389.04 $ 24,389.04 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n11 993.10 \r\n \r\n1,236,286.30 \r\n \r\n0.00 $ 1,260,675.34 $ \r\n \r\n0.00 $ 1,224,293.20 $ 36,382.14 $ 1,260,675.34 \r\n \r\n0.00 $ 1,297,556.89 $ \r\n \r\n0.00 $ 1,261,174.75 $ 36,382.14 $ 1,297,556.89 \r\n \r\n-19- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE RECONCILIATION OF SALARIES AND TRAVEL \r\nYEAR ENDED JUNE 30, 2008 \r\n \r\nSCHEDULE \"4\" \r\n \r\nSALARIES \r\n \r\nTotals per Annual Supplement \r\n \r\n$ 14,088,873.54 $ \r\n \r\nAccruals June 30, 2008 June 30, 2007 \r\n \r\n38,045.68 -23,590.98 \r\n \r\nCompensated Absences June 30, 2008 June 30, 2007 \r\n \r\n966,829.42 -934,403.50 \r\n \r\nAgency Funds \r\n \r\n-65,814.00 \r\n \r\nAdjustments \r\n \r\nShared Services on Jointly Staffed Personnel \r\n \r\nAppalachian Technical College \r\n \r\nReddick, \r\n \r\nMark \r\n \r\nCobb Education Consortium Through Kennesaw State University \r\n \r\nCheshier, \r\n \r\nSteve \r\n \r\nSouthwest Georgia Technical College \r\n \r\nO'Rear, \r\n \r\nMike \r\n \r\nWest Central Georgia Technical College \r\n \r\nPatel, \r\n \r\nRita \r\n \r\n-1,056.49 -42,000.00 \r\n-1,864.38 6,238.80 \r\n \r\nPaid By Chattahoochee Technical College Foundation \r\n \r\nGrimm, \r\n \r\nHarl on \r\n \r\nTaylor, \r\n \r\nRaymond \r\n \r\n-10,000.00 -250.00 \r\n \r\nTRAVEL 184,049.61 \r\n \r\n$ 14,021,008.09 $ ===18=4,0=49=.61= \r\n \r\n- 20 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE RECONCILIATION OF PROFESSIONAL SERVICES \r\nYEAR ENDED JUNE 30, 2008 \r\n \r\nSCHEDULE \"5\" \r\n \r\nTotals per Annual Supplement \r\nReconciling Items: Prior Year Expense \r\n \r\nFEES \r\n \r\nEXPENDITURES \r\n \r\n$ \r\n \r\n372,478.21 $ \r\n \r\n30,168.20 \r\n \r\n-1,254.72 \r\n \r\n$ \r\n \r\n371,223.49 $ =======3=0,=16=8.=20= \r\n \r\n- 21 - \r\n \r\n SECTION II FINDINGS, QUESTIONED COSTS AND OTHER ITEMS \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SCHEDULE OF FINDINGS, QUESTIONED COSTS AND OTHER ITEMS \r\nYEAR ENDED JUNE 30, 2008 \r\nFINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS No matters were reported. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported. OTHER ITEMS {NOTED FOR MANAGEMENT'S CONSIDERATION) No matters were reported. \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-bv6-bc45-b2004-h2005","title":"Management report, Chattahoochee Technical College, Marietta, Georgia, an organizational unit of the state of Georgia, year ended June 30, 2005","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Cobb County, Marietta, 33.9526, -84.54993"],"dcterms_creator":["Georgia. Department of Audits and Accounts"],"dc_date":["2004/2005"],"dcterms_description":["Began with: Year ended June 30, 2001.","For some years, report may be issued instead called: Chattahoochee Technical College, Marietta, Georgia, report on review of the financial statements for the fiscal year ended ... or: Chattahoochee Technical College, Marietta, Georgia, independent accountant's report on applying agreed-upon procedures for the fiscal year ended ...","No further issues published after 2009, when Appalachian Technical College (Ga.), Chattahoochee Technical College (Ga.), and North Metro Technical College (Acworth, Ga.) merged to form a new institution that retained the name of Chattahoochee Technical College.","Description based on print version record."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, GA : Georgia. Dept. of Audits and Accounts, 2005-06-30"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Chattahoochee Technical College--Appropriations and expenditures","Education--Auditing--Georgia","Auditors' reports--Georgia"],"dcterms_title":["Management report, Chattahoochee Technical College, Marietta, Georgia, an organizational unit of the state of Georgia, year ended June 30, 2005"],"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-bv6-bc45-b2004-h2005"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-bv6-bc45-b2004-h2005"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"STATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \r\nMANAGEMENT REPORT CHATTAHOOCHEE TECHNICAL COLLEGE \r\nMARIETTA, GEORGIA \r\nAN ORGANIZATIONAL UNIT OF THE STATE OF GEORGIA YEAR ENDED JUNE 30, 2005 Russell W. Hinton State Auditor \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nLETTER OF TRANSMITTAL \r\n \r\nSELECTED FINANCIAL INFORMATION \r\n \r\nEXHIBITS \r\n \r\nA BALANCE SHEET - (STATUTORY BASIS) - BUDGET FUND \r\n \r\n\"A\" DEPARTMENT OF TECHNICAL AND ADULT EDUCATION \r\n \r\n3 \r\n \r\nB ANALYSIS OF CHANGES IN FUND BALANCE-(STATUTORY BASIS) \r\n \r\nBUDGET FUND \r\n \r\n\"A\" DEPARTMENT OF TECHNICAL AND ADULT EDUCATION \r\n \r\n4 \r\n \r\nC STATEMENT OF FUNDS AVAILABLE AND EXPENDITURES \r\n \r\nCOMPARED TO BUDGET - (STATUTORY BASIS) \r\n \r\nBUDGET FUND \r\n \r\n\"A\" DEPARTMENT OF TECHNICAL AND ADULT EDUCATION \r\n \r\n5 \r\n \r\nD RECONCILIATION OF SALARIES AND TRAVEL \r\n \r\n7 \r\n \r\nSECTION II 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\n270 Washington Street, S.W., Suite 1-156 Atlanta, Georgia 30334-8400 \r\nSeptember 22, 2005 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly of Georgia Members of the State Board of Technical and Adult Education Members of the Local Board of Directors \r\nand Honorable Harlon Crimm, President Chattahoochee Technical College \r\n \r\nLadies and Gentlemen: \r\n \r\nAs part ofour audit ofthe statutory basis financial statements ofthe State ofGeorgia presented in the State ofGeorgia Report ofthe State Auditor, the basic financial statements of the State of Georgia presented in the State ofGeorgia Comprehensive Annual Financial Report, and the issuance of a State ofGeorgia Single Audit Report pursuant to the Single Audit Act Amendments, as ofand for the year ended June 30, 2005, we have performed certain audit procedures at Chattahoochee Technical College. Accordingly, the financial statements and compliance activities of Chattahoochee Technical College were examined to the extent considered necessary in order to express an opinion as to the fair presentation of the financial statements contained in the foregoing documents and to issue reports on compliance and internal control as required by the Single Audit Act Amendments of 1996. \r\n \r\nThis Management Report contains information pertinent to the financial and compliance activities of Chattahoochee Technical College as ofand for the year ended June 30, 2005. Information contained in this report is a by-product of our engagement that is the representation of management, and accordingly, we do not express an opinion or any other form of assurance on it. The particular information provided is enumerated in the Table of Contents. \r\n \r\nThis report is intended solely for the information and use ofmanagement and members ofthe Local Board of Directors of Chattahoochee Technical College and is not intended to be and should not be used by anyone other than these specified parties. \r\n \r\nRWH:as \r\n \r\nRespectfully submitted, \r\n~utc!lh Russell W. Hinton State Auditor \r\n \r\n SELECTED FINANCIAL INFORMATION - 1- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE BALANCE SHEET- (STATUTORY BASIS) \r\nBUDGET FUND \"A\" DEPARTMENT OF TECHNICAL AND ADULT EDUCATION \r\nJUNE 30. 2005 \r\n \r\nEXHIBIT\"A\" \r\n \r\nASSETS \r\nCash and Cash Equivalents Accounts Receivable \r\nFederal Financial Assistance Other \r\nTotal Assets \r\nLIABILITIES AND FUND EQUITY \r\nLiabilities Accrued Payroll Accounts Payable Deferred Revenue Other Liabilities \r\nTotal Liabilities \r\nFund Balances Reserved Local Grants and Contracts Live Work Projects Uncollectible Accounts Unreserved Undesignated Surplus Regular \r\nTotal Fund Equity \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 2.148.189.52 230,635.67 79,440.37 \r\n$ 2.458.265.56 \r\n \r\n$ \r\n \r\n28.813.95 \r\n \r\n1.512.681.78 \r\n \r\n558.535.12 \r\n \r\n123.295.90 \r\n \r\n$ 2,223,326.75 \r\n \r\n$ \r\n \r\n82.882.45 \r\n \r\n106.661.28 \r\n \r\n23.364.01 \r\n \r\n22,031.07 $ 234,938.81 \r\n \r\n$ 2,458,265.56 \r\n \r\nStatutory Basis financial information was prepared on a prescribed basis of accounting that demonstrates compliance with budgetary statutes and regulations of the State of Georgia, which is a comprehensive basis of accounting other than generally accepted accounting principles. \r\n-3 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE ANALYSIS OF CHANGES IN FUND BALANCE - (STATUTORY BASIS) \r\nBUDGET FUND \"A\" DEPARTMENT OF TECHNICAL AND ADULT EDUCATION \r\nYEAR ENDED JUNE 30, 2005 \r\n \r\nEXHIBIT\"B\" \r\n \r\nFUND BALANCE - JULY 1, 2004 \r\nReserved Surplus \r\nADDITIONS \r\nExcess of Funds Available over Expenditures Exhibit \"C\" \r\nDEDUCTIONS \r\nUnreserved Fund Balance (Surplus) Returned to Georgia Department of Technical and Adult Education - Administrative Central Office Year Ended June 30, 2004 \r\nAdjustments to Prior Year's Accounts Receivable \r\nRefunds to Grantors Federal Financial Assistance Georgia Department of Technical and Adult Education - Administrative Central Office Other \r\nReserved Fund Balance Carried Over from Prior Year as Funds Available \r\nFUND BALANCE - JUNE 30, 2005 \r\n \r\n$ \r\n \r\n239,791.08 \r\n \r\n94,190.20 \r\n \r\n$ \r\n \r\n333,981.28 \r\n \r\n$ \r\n \r\n252,791.71 \r\n \r\n$ \r\n \r\n94,190.20 \r\n \r\n137,699.12 \r\n \r\n8,060.97 1.68 \r\n \r\n111,882.21 \r\n \r\n$ \r\n \r\n351,834.18 \r\n \r\n$ ====2=3=4,=9=38==81= \r\n \r\nStatutory Basis financial information was prepared on a prescribed basis of accounting that demonstrates compliance with budgetary statutes and regulations of the State of Georgia, which is a comprehensive basis of accounting other than generally accepted accounting principles. \r\n-4- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE STATEMENT OF FUNDS AVAILABLE AND EXPENDITURES \r\nCOMPARED TO BUDGET- (STATUTORY BASIS} BUDGET FUND \r\n\"A\" DEPARTMENT OF TECHNICAL AND ADULT EDUCATION YEAR ENDED JUNE 30. 2005 \r\n \r\nEXHIBIT\"C\" \r\n \r\nFUNDS AVAILABLE REVENUES \r\nState Appropriation Federal Revenues Other Revenues Retained \r\nCARRY-OVER FROM PRIOR YEAR Transfer from Reserved Fund Balance \r\nEXPENDITURES Personal Services - Institutions Operating Expenses - Institutions \r\nExcess of Funds Available over Expenditures \r\n \r\nBUDGET \r\n \r\nACTUAL \r\n \r\nVARIANCEFAVORABLE (UNFAVORABLE) \r\n \r\n$ 10.792.759.00 $ 10,792,759.00 $ \r\n \r\n1,008,156.58 \r\n \r\n850,788.97 \r\n \r\n7,459,374.04 \r\n \r\n7,169,903.25 \r\n \r\n$ 19,260,289.62 $ 18,813,451.22 $ \r\n \r\n0.00 -157,367.61 -289 470.79 \r\n-446,838.40 \r\n \r\n0.00 \r\n \r\n111,882.21 \r\n \r\n111,882.21 \r\n \r\n$ 19,260,289.62 $ 18,925,333.43 $ _ _ _--=--33=---4'-'-',9:..:5--=-6'-'.1--=---9 \r\n \r\n$ 14,475,368.88 $ 14,177,659.88 $ \r\n \r\n4,784,920.74 \r\n \r\n4,494,881.84 \r\n \r\n297,709.00 290,038.90 \r\n \r\n$ 19,260,289.62 $ 18,672,541.72 $ _ _ _5.:._8;_7..:..,7_4_7._90_ \r\n \r\n$ \r\n \r\n252,791.71 $==~25~2,la:7~9~1~.7,,;,.1 \r\n \r\nStatutory Basis financial information was prepared on a prescribed basis of accounting that demonstrates compliance with budgetary statutes and regulations of the State of Georgia, which is a comprehensive basis of accounting other than generally accepted accounting principles. \r\n-5- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE RECONCILIATION OF SALARIES AND TRAVEL \r\nYEAR ENDED JUNE 30, 2005 \r\n \r\nEXHIBIT\"D\" \r\n \r\nTotals per Annual Supplement \r\nAccruals June 30, 2004 June 30, 2005 \r\nCompensated Absences June 30, 2004 June 30, 2005 \r\nAgency Funds \r\nAdjustments Shared Services on Jointly Staffed Personnel Kennesaw State University Cheshier, Stephen \r\nTotals per GMP Basis as Reported in the Consolidated Annual Financial Report \r\n \r\nSALARIES \r\n \r\nTRAVEL \r\n \r\n$ 11,808,367.56 $ 157,070.16 \r\n \r\n-33,499.99 28,813.95 \r\n \r\n-723, 113.48 834,822.03 \r\n-53,886.00 \r\n \r\n-28,500.00 \r\n \r\n$ 11,833,004.07 $ 157,070.16 \r\n \r\n-7- \r\n \r\n SECTION II FINDINGS AND QUESTIONED COSTS \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 2005 \r\nFINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS No matters were reported. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported. \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-bv6-bc45-b2003-h2004","title":"Management report, Chattahoochee Technical College, Marietta, Georgia, an organizational unit of the state of Georgia, year ended June 30, 2004","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Cobb County, Marietta, 33.9526, -84.54993"],"dcterms_creator":["Georgia. Department of Audits and Accounts"],"dc_date":["2003/2004"],"dcterms_description":["Began with: Year ended June 30, 2001.","For some years, report may be issued instead called: Chattahoochee Technical College, Marietta, Georgia, report on review of the financial statements for the fiscal year ended ... or: Chattahoochee Technical College, Marietta, Georgia, independent accountant's report on applying agreed-upon procedures for the fiscal year ended ...","No further issues published after 2009, when Appalachian Technical College (Ga.), Chattahoochee Technical College (Ga.), and North Metro Technical College (Acworth, Ga.) merged to form a new institution that retained the name of Chattahoochee Technical College.","Description based on print version record."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, GA : Georgia. Dept. of Audits and Accounts, 2004-06-30"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Chattahoochee Technical College--Appropriations and expenditures","Education--Auditing--Georgia","Auditors' reports--Georgia"],"dcterms_title":["Management report, Chattahoochee Technical College, Marietta, Georgia, an organizational unit of the state of Georgia, year ended June 30, 2004"],"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-bv6-bc45-b2003-h2004"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-bv6-bc45-b2003-h2004"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"STATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \r\nMANAGEMENT REPORT CHATTAHOOCHEE TECHNICAL COLLEGE \r\nMARIETTA, GEORGIA \r\nAN ORGANIZATIONAL UNIT OF THE STATE OF GEORGIA YEAR ENDED JUNE 30, 2004 Russell W. Hinton State Auditor \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nLETTER OF TRANSMITTAL \r\n \r\nSELECTED FINANCIAL INFORMATION \r\n \r\nEXHIBITS \r\n \r\nA STATEMENT OF NET ASSETS - (GAAP BASIS) \r\n \r\n3 \r\n \r\nB STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS - \r\n \r\n(GAAP BASIS) \r\n \r\n4 \r\n \r\nC STATEMENT OF CASH FLOWS - (GAAP BASIS) \r\n \r\n5 \r\n \r\nD SELECTED FINANCIAL NOTES \r\n \r\n7 \r\n \r\nSUPPLEMENTARY INFORMATION \r\n \r\nSCHEDULES \r\n \r\nCOMBINED BALANCE SHEET- (STATUTORY BASIS) - BUDGET FUND \r\n \r\n\"A\" DEPARTMENT OF TECHNICAL AND ADULT EDUCATION \r\n \r\n\"B\" LOTTERY FOR EDUCATION \r\n \r\n17 \r\n \r\n2 ANALYSIS OF CHANGES IN FUND BALANCE - (STATUTORY BASIS) \r\n \r\nBUDGET FUND \r\n \r\n\"A\" DEPARTMENT OF TECHNICAL AND ADULT EDUCATION \r\n \r\n\"B\" LOTTERY FOR EDUCATION \r\n \r\n18 \r\n \r\n3 SCHEDULE OF FUNDS AVAILABLE AND EXPENDITURES \r\n \r\nCOMPARED TO BUDGET- (STATUTORY BASIS) \r\n \r\nBUDGET FUND \r\n \r\n\"A\" DEPARTMENT OF TECHNICAL AND ADULT EDUCATION 19 \r\n \r\n4 RECONCILIATION OF SALARIES AND TRAVEL \r\n \r\n21 \r\n \r\nSECTION II 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 (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nSeptember 29, 2004 \r\n \r\nHonorable Sonny Perdue, Governor Members of the General Assembly of Georgia Members of the State Board of Technical and Adult Education Members of the Local Board of Directors \r\nand Honorable Harlon Crimm, President Chattahoochee Technical College \r\nLadies and Gentlemen: \r\nAs part ofour audit ofthe statutory basis financial statements ofthe State ofGeorgia presented in the State ofGeorgia Report ofthe State Auditor, the basic financial statements of the State of Georgia presented in the State ofGeorgia Comprehensive Annual Financial Report, and the issuance of a State ofGeorgia Single Audit Report pursuant to the Single Audit Act Amendments, as ofand for the year ended June 30, 2004, we have performed certain audit procedures at Chattahoochee Technical College. Accordingly, the financial statements and compliance activities of Chattahoochee Technical College were examined to the extent considered necessary in order to express an opinion as to the fair presentation of the financial statements contained in the foregoing documents and to issue reports on compliance and internal control as required by the Single Audit Act Amendments of 1996. \r\nThis Management Report contains information pertinent to the financial and compliance activities of Chattahoochee Technical College as of and for the year ended June 30, 2004. The particular information provided is enumerated in the Table of Contents. \r\nThis report is intended solely for the information and use ofmanagement and members ofthe Local Board ofDirectors of Chattahoochee Technical College 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 \r\n \r\nl~.(.Q~-~ \r\nRussell W. Hinton State Auditor \r\n \r\n SELECTED FINANCIAL INFORMATION - 1- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE STATEMENT OF NET ASSETS - (GAAP BASIS) \r\nJUNE 30, 2004 \r\nASSETS \r\nCurrent Assets Cash and Cash Equivalents Accounts Receivable, Net Federal Financial Assistance Other \r\nTotal Current Assets \r\nNoncurrent Assets Capital Assets, Net \r\nTotal Assets \r\nLIABILITIES \r\nCurrent Liabilities Accounts Payable Salaries Payable Deferred Revenue Funds Held for Others Compensated Absences \r\nTotal Current Liabilities \r\nNoncurrent Liabilities Compensated Absences \r\nTotal Liabilities \r\nNET ASSETS \r\nInvested in Capital Assets, Net of Related Debt Restricted \r\nExpendable Unrestricted \r\nTotal Net Assets \r\n \r\nEXHIBIT\"A\" \r\n \r\n$ 2,749,531.83 47,227.21 157,314.34 \r\n$ 2,954,073.38 \r\n12,341,910.18 $ 15,295,983.56 \r\n \r\n$ \r\n \r\n35,958.44 \r\n \r\n33,499.99 \r\n \r\n508,680.38 \r\n \r\n345,873.59 \r\n \r\n429,639.06 \r\n \r\n$ 1,353,651.46 \r\n \r\n348,792.74 $ 1,702,444.20 \r\n \r\n$ 12,341,910.18 \r\n8,095.97 1,243,533.21 \r\n \r\n$ 13,593,539.36 \r\n \r\n-3- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE \r\n \r\nEXHIBIT \"B\" \r\n \r\nSTATEMENT OF REVENUES. EXPENSES AND CHANGES IN NET ASSETS - (GAAP BASIS) \r\n \r\nYEAR ENDED JUNE 30, 2004 \r\n \r\nOPERATING REVENUES \r\nStudent Tuition and Fees Less: Scholarship Allowances \r\nGrants and Contracts Federal \r\nRents and Royalties Sales and Services Other Operating Revenues \r\nTotal Operating Revenues \r\nOPERATING EXPENSES \r\nSalaries Benefits Travel Scholarships and Fellowships Utilities Supplies and Other Services Depreciation \r\nTotal Operating Expenses \r\nOperating Income (Loss) \r\nNONOPERATING REVENUES (EXPENSES) \r\nState Appropriations Grants and Contracts \r\nFederal Gifts Interest and Other Investment Income Other Nonoperating Revenues Other Nonoperating Expenses \r\nNet Nonoperating Revenues \r\nIncome (Loss) Before Other Revenues, Expenses, Gains, or Loss \r\nCapital Grants and Gifts State \r\nIncrease (Decrease) in Net Assets \r\nNet Assets - Beginning of Year \r\nNet Assets - End of Year \r\n \r\n$ 5,843,132.15 -385,252.70 \r\n1,900,772.00 25,242.75 \r\n475,629.23 65,166.00 \r\n$ 7,924,689.43 \r\n \r\n$ 11,122,458.13 2,330,730.81 155,697.96 1,455,887.55 768,080.77 2,876,735.27 987,224.73 \r\n$ 19,696,815.22 \r\n$ -11,772,125.79 \r\n \r\n$ 10,977,743.69 \r\n \r\n973,095.92 322,366.21 \r\n15,528.61 -49,580.52 -292,759.62 \r\n \r\n$ 11,946,394.29 \r\n \r\n$ \r\n \r\n174,268.50 \r\n \r\n17,740.00 \r\n \r\n$ \r\n \r\n192,008.50 \r\n \r\n$ 13,401,530.86 \r\n \r\n$ 13,593,539.36 \r\n \r\n-4- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE STATEMENT OF CASH FLOWS- (GAAP BASIS} \r\nYEAR ENDED JUNE 30. 2004 \r\nCASH FLOWS FROM OPERATING ACTIVITIES Tuition and Fees Grants and Contracts Sales and Services Payments to Suppliers Payments to Employees Payments for Scholarships and Fellowships Other Receipts (Payments) \r\nNet Cash Provided (Used) by Operating Activities \r\nCASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES State Appropriations Agency Funds Transactions Gifts and Grants Received for Other than Capital Purposes Other Nonoperating Receipts \r\nNet Cash Flows Provided (Used) by Noncapital Financing Activities \r\nCASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Capital Grants and Gifts Received Purchases of Capital Assets \r\nNet Cash Provided (Used) by Capital and Related Financing Activities \r\nCASH FLOWS FROM INVESTING ACTIVITIES Interest on Investments \r\nNet Increase (Decrease) in Cash \r\nCash and Cash Equivalents - Beginning of Year \r\nCash and Cash Equivalents - End of Year \r\nRECONCILIATION OF OPERATING LOSS TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES: \r\nOperating Income (Loss) Adjustments to Reconcile Operating Income to Net Cash \r\nProvided (Used) by Operating Activities Depreciation Expense Change in Assets and Liabilities: Receivables, Net Salaries Payable Accounts Payable Deferred Revenue Compensated Absences \r\nNet Cash Provided (Used) by Operating Activities \r\n-5- \r\n \r\nEXHIBIT\"C\" \r\n \r\n$ 5,335,771.18 1,937,046.50 475,629.23 -6,355,316.27 \r\n-11, 112,966.51 -1,455,887.55 122,855.12 \r\n$ -11,052,868.30 \r\n \r\n$ 11,042,743.69 22,836.61 \r\n1,028,330.55 29,141.38 \r\n$ 12,123,052.23 \r\n \r\n$ \r\n \r\n17,740.00 \r\n \r\n-216,694.18 \r\n \r\n$ -198,954.18 \r\n \r\n$ \r\n \r\n15,528.61 \r\n \r\n$ \r\n \r\n886,758.36 \r\n \r\n1,862,773.47 \r\n \r\n$ 2,749,531.83 \r\n \r\n$ -11,772, 125.79 \r\n987,224.73 40,285.90 1,491.29 \r\n-224,071.46 -93,673.30 8,000.33 \r\n$ -11,052,868.30 \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2004 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nREPORTING ENTITY Chattahoochee Technical College is one of thirty-three (33) State supported member colleges of postsecondary education in Georgia which comprise the Georgia Department ofTechnical and Adult Education, an organizational unit of the State of Georgia. The accompanying financial statements reflect the operations of Chattahoochee Technical College as a separate reporting entity. \r\nThe Technical College's Local Board of Directors is composed of eleven (11) members serving staggered three-year terms who are appointed by the State Board ofTechnical and Adult Education. Appropriation of State funds is made to the Georgia Department ofTechnical and Adult Education by the General Assembly of Georgia. The Department's Administrative Central Office determines the amount of State appropriations to be received by Chattahoochee Technical College. The Technical College does not have authority to retain unexpended State appropriations (surplus) for any given fiscal year. Accordingly, Chattahoochee Technical College is considered an organizational unit of the Georgia Department of Technical and Adult Education for financial reporting purposes because ofthe significance ofits legal, operational, and financial relationships as defined in Section 2100 of the Governmental Accounting Standards Board (GASB) Codification of Governmental Accounting and Financial Reporting Standards. \r\nNOTE 2: CASH AND CASH EQUIVALENTS AND OTHER DEPOSITS \r\nSTATE OF GEORGIA COLLATERALIZATION STATUTES AND POLICIES Funds belonging to Chattahoochee Technical College (and thus the State of Georgia) cannot be placed in a depository paying interest longer than ten days without the depository providing a surety bond to the State. In lieu of a surety bond, the depository may pledge as collateral any one or more ofthe following securities as enumerated in the Official Code of Georgia Annotated Section 50-1759: \r\n1. Bonds, bill, certificates ofindebtedness, notes, or other direct obligations ofthe United States or of the State of Georgia. \r\n2. Bonds, bills, certificates of indebtedness, notes, or other obligations of the counties or municipalities of the State of Georgia. \r\n3. 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\n4. Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia. \r\n \r\n-7- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2004 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 2: CASH AND CASH EQUIVALENTS AND OTHER DEPOSITS \r\n \r\nSTATE OF GEORGIA COLLATERALIZATION STATUTES AND POLICIES 5. Bonds, bills, certificates of indebtedness, notes, or other obligations of a subsidiary corporation ofthe 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\n6. Guarantee or insurance of accounts provided by the Federal Deposit Insurance Corporation. \r\n \r\nAs authorized in the Official Code of Georgia Annotated Section 50-17-53, the State Depository Board has adopted policies, which allow agencies of the State of Georgia (and thus Chattahoochee Technical College), the option of exempting demand deposits from the collateral requirements. \r\n \r\nCATEGORIZATION OF DEPOSITS The Technical College's cash deposits are categorized by risk as follows: \r\n \r\nCategory 1 - Amounts covered by depository insurance or collateralized with securities (at fair value) held by the Technical College or by its agent in the Technical College's name. \r\n \r\nCategory 2 - Amounts collateralized with securities (at fair value) held by the pledging financial institution's trust department or agent in the Technical College's name. \r\n \r\nCategory 3 - Amounts collateralized with securities (at fair value) held by the pledging financial institution, or by its trust department or agent but not in the Technical College's name, and amounts uncollateralized. \r\n \r\nAt June 30, 2004, the Technical College's cash deposits were as follows: \r\n \r\nCash Deposits \r\n \r\nCarrying Amount \r\n \r\nBank Balances \r\n \r\nRisk Categories \r\n \r\n2 \r\n \r\n3 \r\n \r\n$ 2.748096.83 $ 3.765254.37 $ 228753.47 $ 613,882.11 $ 2922618.79 \r\n \r\nNOTE 3: ACCOUNTS RECEIVABLE \r\n \r\nAccounts receivable at June 30, 2004, consists of the following: \r\n \r\n-8 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2004 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 3: ACCOUNTS RECEIVABLE \r\n \r\nStudent Tuition and Fees Federal, State and Private Funds Other GSFIC \r\n \r\n$ 194,584.15 47,227.21 7,622.50 74,920.59 \r\n \r\n$ 324,354.45 \r\n \r\nLess: Allowance for Doubtful Accounts \r\n \r\n119,812.90 \r\n \r\nNet Accounts Receivable \r\n \r\n$ 204~541.55 \r\n \r\nNOTE 4: CAPITAL ASSETS \r\n \r\nFollowing are the changes in capital assets for the year ended June 30, 2004: \r\n \r\nBalance Julx 1, 2003 \r\n \r\nAdditions \r\n \r\nReductions \r\n \r\nBalance June 30, 2004 \r\n \r\nCapital Assets, Not Being Depreciated: \r\n \r\nLand and Land Improvements \r\n \r\n$ 1,535,497.00 \r\n \r\n$ 1,535,497.00 \r\n \r\nCapital Assets, Being Depreciated: Building and Building Improvements Improvements Other Than Buildings Equipment Library Collections \r\n \r\n$11,169,307.00 1,861,800.00 4,768,196.12 $ 896,283.50 \r\n \r\n164,284.84 $ 52,409.34 \r\n \r\n$11,169,307.00 \r\n \r\n1,861,800.00 \r\n \r\n149,746.00 4,782,734.96 \r\n \r\n120,070.38 \r\n \r\n828,622.46 \r\n \r\n$ 18,695,586.62 $ 216,694.18 $ 269,816.38 $ 18,642,464.42 \r\n \r\nLess: Accumulated Depreciation: \r\n \r\nBuildings and Building Improvements $ 2,583,574.96 $ \r\n \r\nImprovements Other Than Buildings \r\n \r\n781,654.34 \r\n \r\nEquipment \r\n \r\n3,104,382.24 \r\n \r\nLibrary Collections \r\n \r\n541,761.45 \r\n \r\n258,423.91 119,692.27 530,984.94 $ 78,123.61 \r\n \r\n42,476.10 120,070.38 \r\n \r\n$ 2,841,998.87 901,346.61 \r\n3,592,891.08 499,814.68 \r\n \r\n$ 7,011,372.99 $ 987,224.73 $ 162,546.48 $ 7,836,051.24 \r\n \r\nTotal Capital Assets, Being Depreciated, \r\n \r\nNet \r\n \r\n$11,684,213.63 $ -770,530.55 $ 107,269.90 $10,806,413.18 \r\n \r\nCapital Assets, Net \r\n \r\n$ 13,219.710.63 $ -770.530.55 $ 107,269.90 $ 12,341,910.18 \r\n \r\nNOTE 5: DEFERRED REVENUE \r\n \r\nDeferred revenue at June 30, 2004, consists of the following: \r\n \r\n-9- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2004 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 5: DEFERRED REVENUE \r\n \r\nPrepaid Tuition and Fees Federal Grants and Contracts Gifts - GSFIC Other Local Grants \r\n \r\n$ 411,286.68 51,747.52 4,354.18 41,292.00 \r\n \r\nTotals \r\n \r\n$ 5082680.38 \r\n \r\nNOTE 6: LONG-TERM LIABILITIES \r\n \r\nLong-term liability activity for the year ended June 30, 2004 was as follows: \r\n \r\nOther Liabilities Compensated Absences \r\n \r\nBalance July 1, 2003 \r\n \r\nAdditions \r\n \r\nReductions \r\n \r\nBalance June 30, 2004 \r\n \r\nCurrent Portion \r\n \r\n$ 770 431.47 $ 661,051.3 I $ 653,050.98 $ 778.431.80 $ 429,639.06 \r\n \r\nNOTE 7: NET ASSETS \r\n \r\nChanges in Net Asset activity for the year ended June 30, 2004 was as follows: \r\n \r\nInvested in Capital Assets Net of Related Debt \r\nRestricted Net Assets Expendable \r\nUnrestricted Net Assets \r\nTotal Net Assets \r\n \r\nBalance July I, 2003 \r\n \r\nAdditions \r\n \r\nReductions \r\n \r\nBalance June 30, 2004 \r\n \r\n$13,219,710.63 $ -770,530.55 $ 107,269.90 $12,341,910.18 \r\n \r\n977.74 \r\n \r\n2,873,867.92 \r\n \r\n2,866,749.69 \r\n \r\n8,095.97 \r\n \r\n180,842.49 17,279,975.42 16,217,284.70 \r\n \r\n1,243,533.21 \r\n \r\n$ 13,401,530.86 $ 12,383,312.12 $12,121,304.29 $ 13,593,539.36 \r\n \r\nNOTE 8: RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA \r\n \r\nPlan Description Chattahoochee Technical College participates in the Teachers Retirement System ofGeorgia (TRS), a cost-sharing multiple-employer defined benefit pension plan established by the General Assembly of Georgia for the purpose ofproviding retirement allowances and other benefits for teachers ofthe State ofGeorgia. TRS provides service retirement, disability retirement, and survivor's 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\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2004 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 8: RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA \r\n \r\nFunding Policy Employees of Chattahoochee Technical College who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. Chattahoochee Technical College makes monthly employer contributions to TRS at rates adopted by the TRS Board ofTrustees in accordance with State statute and as advised by their independent actuary. For fiscal year 2004, the employer contribution rate was 9.24% for covered employees. 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$ 552,857.44 $ 587,968.07 $ 618,473.22 \r\n \r\nEMPLOYEES' RETIREMENT SYSTEM OF GEORGIA \r\n \r\nPlan Description Chattahoochee Technical College participates in the Employees' Retirement System of Georgia (ERS), a single-employer defined benefit pension plan established by the General Assembly of Georgia for the purpose of providing retirement allowances for employees of the State of Georgia. \r\n \r\nRetirement benefits paid to members are based upon a formula which considers the monthly average of the member's highest twenty-four consecutive calendar months of salary, the number ofyears of creditable service, and the member's age at retirement. Postretirement cost-of-living adjustments are also made to member's benefits. The normal retirement pension is payable monthly for life; however, options are available for distribution ofthe member's monthly pension at reduced rates to a designated beneficiary upon the member's death. Death and disability benefits are also available through ERS. \r\n \r\nIn addition, the ERS Board of Trustees created the Supplemental Retirement Benefit Plan (SRBP) effective January 1, 1998. The SRBP was established as a qualified governmental excess benefit plan in accordance with Section 415 ofthe Internal Revenue Code (IRC) as a portion ofERS. The purpose of SRBP is to provide retirement benefits to employees covered by ERS whose benefits are otherwise limited by IRC 415. \r\n \r\n- 11 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2004 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 8: RETIREMENT PLANS \r\nEMPLOYEES' RETIREMENT SYSTEM OF GEORGIA \r\nFunding Policy As established by State statute, all full-time employees of the State of Georgia and its political subdivisions, who are not members ofother state retirement systems, are eligible to participate in the ERS. Both employer and employee contributions are established by State statute. The Technical College's payroll for the year ended June 30, 2004, for employees covered by ERS was $2,577,112.04. The Technical College's total payroll for all employees was $11,122,458.13. \r\nUnder the old plan, member contributions consist of 7.41 % of annual compensation. Of these member contributions, the employee pays the first 1.5% and the Technical College pays the remainder on behalf of the employee. Under the new plan, member contributions consist solely of 1.5% of annual compensation paid by employee. The Technical College also is required to contribute at a specified percentage of active member payroll determined annually by actuarial valuation. For the year ended June 30, 2004, the ERS employer contribution rate for the Technical College amounted to 10.15% of covered payroll. Chattahoochee Technical College did not have any employees covered by the old plan referred to above. Employer contributions are also made on amounts paid for accumulated leave to retiring employees. \r\nTotal contributions to the plan made during fiscal year 2004 amounted to $293,908.48, of which $261,694.58 was made by the Technical College and $32,213.90 was made by employees. These contributions met the requirements of the plan. \r\nGEORGIA DEFINED CONTRIBUTION PLAN \r\nPlan Description Chattahoochee Technical College participates in the Georgia Defined Contribution Plan (GDCP) which is a single-employer defined contribution plan established by the General Assembly of Georgia for the purpose of providing retirement coverage for State employees who are temporary, seasonal, and part-time and are not members of a public retirement or pension system. GDCP is administered by the Board of Trustees of the Employees' Retirement System of Georgia. \r\nBenefits A member may retire and elect to receive periodic payments after attainment ofage 65. The payment will be based upon mortality tables and interest assumptions to be adopted by the Board ofTrustees. Ifa member has less than$ 3,500.00 credited to his/her account, the Board ofTrustees has the option of requiring a lump sum distribution to the member in lieu of making periodic payments. Upon the death of a member, a lump sum distribution equaling the amount credited to his/her account will be paid to the member's designated beneficiary. Benefit provisions are established by State statute. \r\nThe Employees' Retirement System of Georgia issues a financial report each fiscal year which may be obtained through ERS. \r\n- 12 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SELECTED FINANCIAL NOTES JUNE 30, 2004 \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTE 8: RETIREMENT PLANS \r\nGEORGIA DEFINED CONTRIBUTION PLAN \r\nContributions and Vesting Member contributions are seven and one-halfpercent (7.5%) ofgross salary. There are no employer contributions. Contribution rates are established by State statute. Earnings are credited to each member's account in a manner established by the Board of Trustees. Upon termination of employment, the amount of the member's account is refundable upon request by the member. The Technical College's payroll for the year ended June 30, 2004, for employees covered by GDCP was $2,012,854.59. The Technical College's total payroll for all employees was $11,122,458.13. \r\nTotal contributions made by employees during fiscal year 2004 amounted to $150,966.20 which represents 7.5% of covered payroll. These contributions met the requirements of the plan. \r\nNOTE 9: CONTINGENCIES \r\nAmounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies. This could result in refunds to the grantor agency for any expenses which are disallowed under grant terms. The amount of expenses which may be disallowed by the grantor cannot be determined at this time although Chattahoochee Technical College expects such amounts, ifany, to be immaterial to its overall financial position. \r\nLitigation, claims and assessments filed against Chattahoochee Technical College (an organizational unit of the Department of Technical and Adult Education), if any, are generally considered to be actions against the State of Georgia. Accordingly, significant litigation, claims and assessments pending against the State of Georgia are disclosed in the State of Georgia Comprehensive Annual Financial Report for the fiscal year ended June 30, 2004. \r\nNOTE 10: RELATED ORGANIZATION DISCLOSURE \r\nThe financial statements of Chattahoochee Technical College Foundation, Inc., which is a potential component unit ofChattahoochee Technical College, are not included in these financial statements. Copies of the foundation's financial statements may be obtained from Chattahoochee Technical College. \r\n \r\n- 13 - \r\n \r\n SUPPLEMENTARY INFORMATION - 15 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE COMBINED BALANCE SHEET - (STATUTORY BASIS) \r\nBUDGET FUND JUNE 30, 2004 \r\n \r\nSCHEDULE \"1\" \r\n \r\n\"A\" DEPARTMENT OF \r\nTECHNICAL AND ADULT EDUCATION \r\n \r\n\"B\" \r\nLOTTERY FOR \r\nEDUCATION \r\n \r\nCash and Cash Equivalents Accounts Receivable \r\nFederal Financial Assistance Other \r\nTotal Assets \r\nLIABILITIES AND FUND EQUITY \r\nLiabilities Accrued Payroll Accounts Payable Deferred Revenue \r\nTotal Liabilities \r\nFund Balances Reserved Federal Financial Assistance Live Work Projects Uncollectible Accounts Unreserved Undesignated Surplus Regular Lottery for Education \r\nTotal Fund Equity \r\nTotal Liabilities and Fund Equity \r\n \r\n$ \r\n \r\n2,382,339.34 $ \r\n \r\n0.00 \r\n \r\n43,949.21 269,504.74 \r\n \r\n$ \r\n \r\n2,695,793.29 $====o=.o=o \r\n \r\n$ \r\n \r\n33,499.99 \r\n \r\n1,881,900.41 \r\n \r\n446,411.61 \r\n \r\n$ \r\n \r\n2,361,812.01 \r\n \r\n$ \r\n \r\n8,095.97 \r\n \r\n111,882.21 \r\n \r\n119,812.90 \r\n \r\n94,190.20 $ \r\n \r\n$ \r\n \r\n333,981.28 $ \r\n \r\n$ \r\n \r\n2,695,793.29 $ \r\n \r\n0.00 0.00 \r\n0.00 \r\n \r\nStatutory Basis financial information was prepared on a prescribed basis of accounting that demonstrates compliance with budgetary statutes and regulations of the State of Georgia, which is a comprehensive basis of accounting other than generally accepted accounting principles. \r\n- 17 - \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE ANALYSIS OF CHANGES IN FUND BALANCE- (STATUTORY BASIS) \r\nBUDGET FUND YEAR ENDED JUNE 30. 2004 \r\n \r\nSCHEDULE \"2\" \r\n \r\nFUND BALANCE - JULY 1. 2003 \r\nReserved Surplus \r\nADDITIONS \r\nAdjustments to Prior Year's Contracts and Accounts Payable Adjustments to Prior Year's Revenues/Accounts Receivable Excess of Funds Available over Expenditures \r\nSchedule \"3\" Prior Years Checks Voided \r\nDEDUCTIONS \r\nUnreserved Fund Balance (Surplus) Returned to Georgia Department of Technical and Adult Education - Administrative Central Office Year Ended June 30, 2003 \r\nRefunds to Grantors Federal Financial Assistance Georgia Department of Technical and Adult Education - Administrative Central Office \r\nReserved Fund Balance Carried Over from Prior Year as Funds Available \r\nFUND BALANCE - JUNE 30. 2004 \r\n \r\nIIAH \r\nDEPARTMENT OF TECHNICAL AND ADULT EDUCATION \r\n \r\n119n LOTTERY FOR \r\nEDUCATION \r\n \r\n$ \r\n \r\n81,855.61 \r\n \r\n20,668.53 $ \r\n \r\n$ \r\n \r\n102,524.14 $ \r\n \r\n3,147.78 3,147.78 \r\n \r\n$ \r\n \r\n54,359.39 \r\n \r\n71,265.08 \r\n \r\n207,719.89 614.80 \r\n \r\n$ \r\n \r\n333,959.16 \r\n \r\n$ \r\n \r\n20,668.53 $ \r\n \r\n3,147.78 \r\n \r\n955.62 \r\n \r\n80,877.87 \r\n \r\n$ \r\n \r\n102,502.02 $ \r\n \r\n3,147.78 \r\n \r\n$ \r\n \r\n333,981.28 $=====,;;;0-;,;;,00~ \r\n \r\nStatutory Basis financial information was prepared on a prescribed basis of accounting that demonstrates compliance with budgetary statutes and regulations of the State of Georgia, which is a comprehensive basis of accounting other than generally accepted accounting principles. \r\n-18- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SCHEDULE OF FUNDS AVAILABLE AND EXPENDITURES \r\nCOMPARED TO BUDGET - (STATUTORY BASIS) BUDGET FUND \r\n\"A\" DEPARTMENT OF TECHNICAL AND ADULT EDUCATION YEAR ENDED JUNE 30. 2004 \r\n \r\nSCHEDULE \"3\" \r\n \r\nFUNDS AVAILABLE REVENUES \r\nState Appropriation Federal Revenues Other Revenues Retained \r\nCARRY-OVER FROM PRIOR YEAR Transfer from Reserved Fund Balance \r\nEXPENDITURES Personal Services - Institutions Operating Expenses - Institutions \r\nExcess of Funds Available over Expenditures \r\n \r\nBUDGET \r\n \r\nACTUAL \r\n \r\nVARIANCEFAVORABLE (UNFAVORABLE) \r\n \r\n$ 11,001,560.00 $ 11,001,560.00 $ \r\n \r\n918,836.02 \r\n \r\n900,794.14 \r\n \r\n6,622,029.00 \r\n \r\n6,540,935.94 \r\n \r\n$ 18,542,425.02 $ 18,443,290.08 $ \r\n \r\n0.00 -18,041.88 -81,093.06 \r\n-99,134.94 \r\n \r\n0.00 \r\n \r\n80,877.87 \r\n \r\n80,877.87 \r\n \r\n$ 18,542,425.02 $ 18,524,167.95 $ _ _ _-1_8-'-,2_5_7._07_ \r\n \r\n$ 13,554,715.79 $ 13,445,188.61 $ \r\n \r\n4,987,709.23 \r\n \r\n4,871,259.45 \r\n \r\n109,527.18 116,449.78 \r\n \r\n$ 18,542,425.02 $ 18,316,448.06 $ - - - ~ 225,-97-6.9-6 \r\n \r\n$ \r\n \r\n207,719.89 $ =====20=7,=71=9=.8=9 \r\n \r\nStatutory Basis financial information was prepared on a prescribed basis of accounting that demonstrates compliance with budgetary statutes and regulations of the State of Georgia, which is a comprehensive basis of accounting other than generally accepted accounting principles. \r\n-19- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE RECONCILIATION OF SALARIES AND TRAVEL \r\nYEAR ENDED JUNE 30. 2004 \r\n \r\nSCHEDULE \"4\" \r\n \r\nTotals per Annual Supplement \r\nAccruals June 30, 2003 June 30, 2004 \r\nCompensated Absences June 30, 2003 June 30, 2004 \r\nEncumbrances June 30, 2004 \r\nAgency Funds \r\nAdjustments Shared Services on Jointly Staffed Personnel Kennesaw State University Cheshier, Stephen \r\n \r\nSALARIES \r\n \r\nTRAVEL \r\n \r\n$ 11,222,928.29 $ 156,222.16 \r\n \r\n-32,008.70 33,499.99 \r\n \r\n-763,354.93 723,113.48 \r\n \r\n-36,720.00 \r\n \r\n-524.20 \r\n \r\n-25,000.00 $ 11,122,458.13 $ 155,697.96 \r\n \r\n- 21 - \r\n \r\n SECTION II FINDINGS AND QUESTIONED COSTS \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 2004 \r\nFINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS No matters were reported. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported. \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-bv6-bc45-b2002-h2003","title":"Management report, Chattahoochee Technical College, Marietta, Georgia, an organizational unit of the state of Georgia, year ended June 30, 2003","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Cobb County, Marietta, 33.9526, -84.54993"],"dcterms_creator":["Georgia. Department of Audits and Accounts"],"dc_date":["2002/2003"],"dcterms_description":["Began with: Year ended June 30, 2001.","For some years, report may be issued instead called: Chattahoochee Technical College, Marietta, Georgia, report on review of the financial statements for the fiscal year ended ... or: Chattahoochee Technical College, Marietta, Georgia, independent accountant's report on applying agreed-upon procedures for the fiscal year ended ...","No further issues published after 2009, when Appalachian Technical College (Ga.), Chattahoochee Technical College (Ga.), and North Metro Technical College (Acworth, Ga.) merged to form a new institution that retained the name of Chattahoochee Technical College.","Description based on print version record."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, GA : Georgia. Dept. of Audits and Accounts, 2003-06-30"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Chattahoochee Technical College--Appropriations and expenditures","Education--Auditing--Georgia","Auditors' reports--Georgia"],"dcterms_title":["Management report, Chattahoochee Technical College, Marietta, Georgia, an organizational unit of the state of Georgia, year ended June 30, 2003"],"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-bv6-bc45-b2002-h2003"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-bv6-bc45-b2002-h2003"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":null},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-bv6-bc45-b2000-h2001","title":"Management report, Chattahoochee Technical College, Marietta, Georgia, an organizational unit of the state of Georgia, year ended June 30, 2001","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Cobb County, Marietta, 33.9526, -84.54993"],"dcterms_creator":["Georgia. Department of Audits and Accounts"],"dc_date":["2000/2001"],"dcterms_description":["Began with: Year ended June 30, 2001.","For some years, report may be issued instead called: Chattahoochee Technical College, Marietta, Georgia, report on review of the financial statements for the fiscal year ended ... or: Chattahoochee Technical College, Marietta, Georgia, independent accountant's report on applying agreed-upon procedures for the fiscal year ended ...","No further issues published after 2009, when Appalachian Technical College (Ga.), Chattahoochee Technical College (Ga.), and North Metro Technical College (Acworth, Ga.) merged to form a new institution that retained the name of Chattahoochee Technical College.","Description based on print version record."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, GA : Georgia. Dept. of Audits and Accounts, 2001-06-30"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Chattahoochee Technical College--Appropriations and expenditures","Education--Auditing--Georgia","Auditors' reports--Georgia"],"dcterms_title":["Management report, Chattahoochee Technical College, Marietta, Georgia, an organizational unit of the state of Georgia, 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-bv6-bc45-b2000-h2001"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-bv6-bc45-b2000-h2001"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"STATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \r\nGA- \r\nAgoo .RI \\/ lb C'45 \r\nl ..:l DOO ~.;100 \r\nMANAGEMENT REPORT CHAITAHOOCHEE TECHNICAL COLLEGE \r\nMARIEITA, GEORGIA \r\nAN ORGANIZATIONAL UNIT OF THE STATE OF GEORGIA \r\nYEAR ENDED JUNE 30# 2001 RECEIVED \r\nDGCUi\\1ENTS \r\nRussell W. fift'tttUY1AmEs \r\nState Auditor \r\n \r\n CHAITAHOOCHEETECHNICALCOLLEGE MANAGEMENT REPORT -TABLE OF CONTENTS- \r\n \r\nLEITER OF TRANSMITTAL \r\n \r\nSECTION I \r\n \r\nSELECTED FINANCIAL INFORMATION \r\n \r\nEXHIBITS \r\n \r\nA ANALYSIS OF CHANGES IN FUND BALANCE \r\n \r\nBUDGETFUND \r\n \r\n1 \r\n \r\nSCHEDULESOFFUNDSAVAILABLEANDEXPENDITURES \r\n \r\nCOMPARED TO BUDGET \r\n \r\nBUDGET FUND \r\n \r\n. \r\n \r\nB \r\n \r\n\"A\" DEPARTMENT OF TECHNICAL AND ADULT EDUCATION \r\n \r\n2 \r\n \r\nC \r\n \r\n\"B\" LOTTERY FOR EDUCATION \r\n \r\n3 \r\n \r\nD RECONCILIATION OF SALARIES AND TRAVEL \r\n \r\n4 \r\n \r\nSECTION II AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n w. RUSSELL \r\n \r\nHINTON \r\n \r\nSTATE AUDITOR \r\n \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\nSeptember 20, 2001 \r\n \r\nHonorable Roy E. Barnes, Governor Members of the General Assembly of Georgia Members of the State Board of Technical and Adult Education Members of the Local Board ofDirectors \r\nand Honorable Harlon Crimm, President Chattahoochee Technical College \r\nLadies and Gentlemen: \r\nAs part ofour audit ofthe statutory basis financial statements ofthe State ofGeorgia presented in the State ofGeorgia Report ofthe State Auditor, the general purpose financial statements ofthe State of Georgia presented in the State ofGeorgia Comprehensive Annual Financial Report, and the issuance of a Statewide Single Audit Report pursuant to the Single Audit Act Amendments, as of and for the year ended June 30, 2001, we have performed certain audit procedures at Chattahoochee Technical College. Accordingly, the financial statements and compliance activities of Chattahoochee Technical College were examined to the extent considered necessary in order to express an opinion as to the fair presentation of the financial statements contained in the foregoing documents and to issue reports on compliance and internal control as required by the Single Audit Act Amendments of 1996. \r\nThis Management Report contains information pertinent to the financial and compliance activities of Chattahoochee Technical College as of and for the year ended June 30, 2001. The particular information provided is enumerated in the Table of Contents. \r\nThis report is intended solely for the information and use ofmanagement and members ofthe Local Board ofDirectors ofChattahoochee Technical College and is not intended to be and should not be used by anyone other than these specified parties. \r\nRespectfully submitted, \r\n-:;;_  Qe L\u003cl .a j ~ \r\n;u):11 W. Hinton State Auditor \r\nRWH:gp \r\n \r\n SECTION I SELECTED FINANCIAL INFORMATION \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE ANALYSIS OF CHANGES IN FUND BALANCE \r\nBUDGET FUND YEAR ENDED JUNE 30. 2001 \r\n \r\nEXHIBIT \"A\" \r\n \r\nFUND BALANCE - JULY 1, 2000 \r\nReserved Surplus \r\nADDITIONS \r\nAdjustments to Prior Year's Accounts Payable Excess of Funds Available over Expenditures \r\nExhibit \"B* \r\nExhibit c \r\nDEDUCTIONS \r\nUnreserved Fund Balance {Surplus) Returned to Georgia Department of Technical and Adult Education - Administrative Central Office Year Ended June 30, 2000 Year Ended June 30, 2001 \r\nAdjustments to Prior Year's Revenues/ Accounts Receivable \r\nRefunds to Granters Federal Financial Assistance Georgia Department of Technical and Adult Education - Administrative Central Office Other \r\nReserved Fund Balance Carried Over from Prior Year as Funds Available \r\n \r\n\"A\" DEPARTMENT OF \r\nTECHNICAL AND ADULT EDUCATION \r\n \r\n\"B\" LOTTERY FOR \r\nEDUCATION \r\n \r\n$ \r\n \r\n43,472.01 \r\n \r\n15 490.38 $ \r\n \r\n76.36 \r\n \r\n$ \r\n \r\n58,962.39 $ \r\n \r\n76.36 \r\n \r\n$ \r\n \r\n8,738.34 $ \r\n \r\n20,524.73 \r\n \r\n49,663.96 \r\n \r\n1 155.44 \r\n \r\n$ \r\n \r\n58,402.30 $ \r\n \r\n21,680.17 \r\n \r\n$ \r\n \r\n15,490.38 $ \r\n \r\n76.36 \r\n \r\n1,137.00 \r\n \r\n-8.722.80 \r\n \r\n1,569.83 1,616.53 \r\n \r\n35,055.23 \r\n \r\n$ \r\n \r\n45 009.17 $ \r\n \r\n1,213.36 \r\n \r\nFUND BALANCE - JUNE 30, 2001 \r\n \r\n$ \r\n \r\n72.355.52 $ \r\n \r\n20,543.17 \r\n \r\nSUMMARY OF F!,!ND BALANCE \r\nReserved Federal Financial Assistance For Continuation of Program For Refund to Granter Agency Georgia Department of Technical and Adult Education - Administrative Central Office Other Live Work Projects State Grants For Refund to Granter Agency Other \r\nSurplus \r\n-1  \r\n \r\n$ \r\n \r\n7.00 \r\n \r\n7,985.70 4,059.47 51,040.69 \r\n \r\n739.05 \r\n \r\n$ \r\n \r\n63,831.91 \r\n \r\n8,523.61 $ \r\n \r\n20,543.17 \r\n \r\n$ \r\n \r\n72,355.52 $ \r\n \r\n20,543.17 \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SCHEDULE OF FUNDS AVAILABLE AND EXPENDITURES \r\nCOMPARED TO BUDGET BUDGET FUND \r\n\"A\" DEPARTMENT OF TECHNICAL AND ADULT EDUCATION YEAR ENDED JUNE 30, 2001 \r\n \r\nEXHIBIT\"B\" \r\n \r\nFUNDS AVAILABLE REVENUES \r\nState Appropriation Federal Revenues Other Revenues Retained \r\nCARRY-OVER FROM PRIOR YEAR Transfer from Reserved Fund Balance \r\nEXPENDITURES Personal Services-Institutions Operating Expenses-Institutions Capital Outlay \r\nExcess of Funds Available over Expenditures \r\n \r\nBUDGET \r\n \r\nACTUAL \r\n \r\nVARIANCEFAVORABLE (UNFAVORABLE) \r\n \r\n$ 8,539,902.00 $ 8,539,902.00 $ 1,176,213.00 1,017,819.98 4,492,103.00 4,056,924.63 \r\n$ 14,208,218.00 $ 13,614,646.61 $ \r\n \r\n0.00 -158,393.02 -435, 178.37 \r\n-593,571.39 \r\n \r\n0.00 \r\n \r\n35,055.23 \r\n \r\n35,055.23 \r\n \r\n$ 14,208,218.00 $ 13,649,701.84 $ _ _-_5_58...,.5_1_6_.1_6 \r\n \r\n$ 10,936,917.50 $ 10,602,457.32 $ \r\n \r\n3,158,174.50 2,884,454.56 \r\n \r\n113,126.00 \r\n \r\n113,126.00 \r\n \r\n334,460.18 273,719.94 \r\n0.00 \r\n \r\n$ 14,208,218.00 $ 13,600,037.88 $ _ _..;;6~08;;...;.;18;.;;0.;;.;.1.;;.2 \r\n \r\n$ 49,663.96 $ ===.......;49_,6=6=3-.9=6 \r\n \r\n-2- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE SCHEDULE OF FUNDS AVAILABLE AND EXPENDITURES \r\nCOMPARED TO BUDGET BUDGET FUND \r\n\"B\" LOTTERY FOR EDUCATION YEAR ENDED JUNE 30, 2001 \r\n \r\nEXHIBIT\"C\" \r\n \r\nFUNDS AVAILABLE REVENUES \r\nState Appropriation Other Revenues Retained \r\nEXPENDITURES Equipment-Technical Institutes \r\nExcess of Funds Available over Expenditures \r\n \r\nBUDGET \r\n \r\nACTUAL \r\n \r\nVARIANCEFAVORABLE (UNFAVORABLE) \r\n \r\n$ 449,271.00 $ 449,271.00 $ \r\n \r\n215161461.00 \r\n \r\n215161461.00 \r\n \r\n0.00 0.00 \r\n \r\n$ 219651732.00 $ 2,965,732.00 $ _ _ _ _ _o_.o_o \r\n \r\n$ 21965,732.00 $ 2,964,576.56 $ _ _ _1...;.,1_5_5_.4_4 \r\n \r\n$ \r\n \r\n1,155.44 $ ===1=1=5=5=.4=4 \r\n \r\n-3- \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE RECONCILIATION OF SALARIES AND TRAVEL \r\nYEAR ENDED JUNE 30, 2001 \r\n \r\nEXHIBIT\"D\" \r\n \r\nTotals per Annual Supplement \r\nAccruals \r\nJune 30, 2001 June 30, 2000 \r\nAdjustments Shared Services on Jointly Staffed Personnel North Metro Technical College Hanson, Sue Powers \r\n \r\nSALARIES \r\n \r\nTRAVEL \r\n \r\n$ 8,576,697.19 $ 119,171.89 \r\n \r\n146,917.12 -146,928.48 \r\n \r\n-29,302.31 $ 8,547,383.52 $ 119171.89 \r\n \r\n-4- \r\n \r\n SECTION II AUDITEE'S RESPONSE TO PRlOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n CHATTAHOOCHEE TECHNICAL COLLEGE AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2001 \r\n \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\nFS-827-00-01 \r\n \r\nPreviously Reported Corrective Action Implemented \r\n \r\nPRIOR YEAR FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\n827-95-03 827-96-03 FA-827-97-03 \r\n \r\nPartially Resolved - See Corrective Action/Responses Partially Resolved - See Corrective Action/Responses Partially Resolved - See Corrective Action/Responses \r\n \r\nCORRECTIVE ACTION/RESPONSES \r\n \r\nREPORTING Incorrect Student Payment Summary Report Finding Control Number: 827-95-03 \r\n \r\nFinal reconciliation of the adjustments to be made on the Student Payment Summary Report has been prepared and will be sent to the U. S. Department of Education by March 31, 2002, following procedures in Dear Colleague letter P-97-2. \r\n \r\nREPORTING Incorrect Student Payment Summary Report Finding Control Number: 827-96-03 \r\n \r\nThe final step ofthe adjustment process has not been implemented. A final reconciliation of the student accounts must be completed and then sent to the U. S. Department of Education following the guidelines of Dear Colleague letter P-97-2 by March 31, 2002. \r\n \r\nREPORTING Incorrect Student Payment Summary Report Amount: $3,612.00 Finding Control Number: FA-827-97-03 \r\n \r\nThe College must have the student awards certified by the state auditors before submission to the U. S. Department ofEducation for adjustment. Arrangements will be made to have the certification performed in order to submit the adjustments before June 30, 2002, following the provisions in Dear Colleague letter P-97-2. \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":5,"first_page?":true,"last_page?":true},"facets":[{"name":"type_facet","items":[{"value":"Text","hits":5}],"options":{"sort":"count","limit":16,"offset":0,"prefix":null}},{"name":"creator_facet","items":[{"value":"Georgia. 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