{"response":{"docs":[{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1998-h99","title":"Audit report, Banks County Board of Education, Homer, Georgia, year ended June 30, 1999, June 30, 1999","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits.","Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Banks County, 34.35413, -83.49737"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1999-06-30"],"dcterms_description":["Title fluctuates: Audits conducted \"in accordance with generally accepted auditing standards\" are issued as: Audit report; reviews that are \"substantially less in scope than an audit in accordance with generally accepted auditing standards\" are issued as: Review or Management report. For issues for fiscal year ending June 30, 2000-June 30, 2008, issues where audits are conducted \"in accordance with auditing standards generally accepted in the United States of America\" are issued as: Report on audit of the financial statements. For issues for fiscal year ending June 30, 2009-, issues where audits are conducted \"in accordance with auditing standards generally accepted in the United States of America\" are issued as: Annual financial report ... (including independent auditor's reports)","Issues for years ended \u003cJune 30, 1994 (released in 1995)\u003e-June 30, 1995 (released in 1996) issued by the State of Georgia, Dept. of Audits, years ended June 30, 1996 (released in 1997)- by the Dept. of Audits and Accounts.","Year ended June 30, 1994 (online surrogate); title from PDF title page (journal archive page, Georgia Government Publications database, viewed September 30, 2015).","Fiscal year ended June 30, 2014 (received via FTP 8/4/15 from Georgia Dept. of Audits and Accounts) (online surrogate) (Georgia Government Publications database, viewed September 3, 2015)."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Dept. of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Banks County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Banks County--Auditing--Periodicals.","Education--Georgia--Banks County--Finance--Statistics--Periodicals.","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Banks County Board of Education, Homer, Georgia, year ended June 30, 1999, June 30, 1999"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1998-h99"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1998-h99"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":["Periodicals--fast"],"fulltext":"In f1 \r\nAgOD \r\n\" R1 \r\n. 26 \r\n]32 \r\n1 q 1 ~ -CJ q \r\nAUDIT REPORT BANKS COUNTY BOARD OF EDUCATION \r\nHOMER, GEORGIA YEAR ENDED JUNE 30, 1999 \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 WASHINGTON STREET ATLANTA, GEORGIA 30334-8400 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\nEXHIBITS \r\n \r\nGENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nCOMBINED STATEMENTS - OVERVIEW \r\n \r\nA \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\nALL FUND TYPES AND ACCOUNT GROUP \r\n \r\n2 \r\n \r\nB \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nALL GOVERNMENTAL FUND TYPES \r\n \r\n4 \r\n \r\nC \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\n(NON-GAAP BASIS) \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n6 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n7 \r\n \r\nADDmONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING AND INDNIDUAL FUND STATEMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nE \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n18 \r\n \r\nF \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n20 \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nG \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n22 \r\n \r\nH \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n23 \r\n \r\nI \r\n \r\nFIDUCIARY FUND TYPES \r\n \r\nSTATEMENT OF CHANGES IN ASSETS AND LIABILmES \r\n \r\nAGENCY FUND \r\n \r\n24 \r\n \r\nSCHEDULES \r\n \r\n1 SCHEDULE OF EXPENDTIURES OF FEDERAL AWARDS \r\n \r\n25 \r\n \r\n2 SCHEDULE OF STATE REVENUE \r\n \r\n27 \r\n \r\n3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\n \r\n28 \r\n \r\n'4 SCHEDULE OF EXPENDTIURES \r\n \r\nLOTTERY PROGRAMS \r\n \r\n29 \r\n \r\n BANKS CQUNfY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nADDmONAL FINANCIAL INFORMATION \r\n \r\nSCHEDULES \r\n \r\nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \r\n \r\n5 \r\n \r\nOVERALL \r\n \r\n31 \r\n \r\n6 \r\n \r\nBY PROGRAM \r\n \r\n32 \r\n \r\nSECTION II \r\nCOMPLIANCE AND INTERNAL CONlROL REPORTS \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH \r\nGOVERNMENT AUDITING STANDARDS \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONlROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-l33 \r\n \r\nSECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\nSECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\n \r\n SECTION I FINANCIAL \r\n \r\n RUSSELL W. HINTON \r\nSTATE AUDITOR \r\n(404) 6562174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nApril 14,2000 \r\n \r\nHonorable Roy E. Barnes, Governor Members ofthe General Assembly Members of the State Board of Education \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nLadies and Gentlemen: \r\nWe have audited the accompanying general purpose financial statements of the Banks County Board of Education, as of and for the year ended June 30, 1999, as listed in the table of contents. These general purpose financial statements are the responsibility of the Banks County Board ofEducation's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. \r\nWe conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perfonn the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \r\nAs described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \r\n* The general purpose financial statements of the Board did not contain a General Fixed Assets \r\nAccount Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. \r\n \r\n99ARL-13 \r\n \r\n * School activity accounts maintained at the individual schools are not included in the general purpose \r\nfinancial statements. To confonn to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. \r\n* The Board did not recognize as expenditures, in the year ended June 30, 1999, a portion of salaries \r\nand the corresponding employer's cost ofrelated benefits earned for contractual services completed prior to June 30, 1999. Also funds received, subsequent to June 30, 1999, from the Georgia Department of Education for the State's share ofthese unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1998, were improperly recorded in the year ended June 30, 1999. To confonn to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \r\nThe aggregate effects on the general purpose financial statements of these variances or omissions have not been detennined, but are believed to be material. \r\nIn our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements referred to above present fairly, in all material respects, the financial position ofthe Banks County Board ofEducation as ofJune 30, 1999, and the results of its operations for the year then ended, in confonnity with generally accepted accounting principles. \r\nIn accordance with Government Auditing Standards, we have also issued our report dated April 14, 2000, on our consideration ofthe Banks County Board ofEducation's internal control over financial reporting and our tests of its compliance with certain provisions oflaws, regulations, contracts and grants. \r\nOur audit was perfonned for the purpose of fonning an opinion on the general purpose financial statements ofthe Banks County Board ofEducation taken as a whole. The accompanying combining and individual fund statements (Exhibits E through 1) and the financial schedules (Schedules 1 through 6), which includes the Schedule ofExpenditures ofFederal Awards as required by U. S. Office ofManagement and Budget Circular A-133, Audits ofStates, Local Governments, and Non-Profit Organizations, are presented for purposes of additional analysis and are not a required part ofthe general purpose financial statements. Such infonnation has been subjected to the auditing procedures applied in the audit ofthe general purpose financial statements and in our opinion, except for the effects ofthe matters referred to in the third paragraph, such infonnation is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. \r\n99ARL-13 \r\n \r\n A copy of this report has been filed as a pennanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \r\nRespectfully submitted, \r\nk).~ \r\nR sell W. Hinton State Auditor \r\nRWH:jb 99ARL-13 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\n  EXHIBIT \"A\" \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nFIDUCIARY FUND TYPE AGENCY FUND \r\n \r\nACCOUNT GROUP GENERAL \r\nLONG-TERM DEBT \r\n \r\nTOTALS \r\n \r\n(Memorandum Only) \r\n \r\nJUNE 30,1999 \r\n \r\nJUNE 30, 1998 \r\n \r\n$ \r\n \r\n544,130.75 $ \r\n \r\n6,946.31 \r\n \r\n$ 1,610,809.31 $ \r\n \r\n504,360.81 \r\n \r\n1,517,000.00 \r\n \r\n1,517,000.00 \r\n \r\n4,851,057.62 \r\n \r\n328,385.61 \r\n \r\n1,245,845.23 \r\n \r\n1,775,339.97 \r\n \r\n2,795.00 \r\n \r\n$ \r\n \r\n2,389,516.36 \r\n \r\n18,338.59 2,221.36 \r\n2,389,516.36 \r\n \r\n16,756.22 1,735.00 \r\n1,100,627.46 \r\n \r\n4,665,483.64 162,771.19 \r\n \r\n4,665,483.64 162,771.19 \r\n \r\n6,189,372.54 75,870.88 \r\n \r\n$ 2,389,516.36 $ \r\n \r\n6,946.31 $ \r\n \r\n7,217,771.19 $ 11,614,780.68 $ 14,515,120.50 \r\n \r\n$ \r\n \r\n214,215.53 $ \r\n \r\n491,716.94 \r\n \r\n88,087.72 \r\n \r\n78,400.36 \r\n \r\n1,026.77 \r\n \r\n405,323.98 \r\n \r\n656,575.63 \r\n \r\n495,600.00 \r\n \r\n439,197.60 \r\n \r\n$ \r\n \r\n6,946.31 \r\n \r\n6,946.31 \r\n \r\n6,500.38 \r\n \r\n$ \r\n \r\n162,771.19 \r\n \r\n162,771.19 \r\n \r\n75,870.88 \r\n \r\n7,055,000.00 \r\n \r\n7,055,000.00 \r\n \r\n7,290,000.00 \r\n \r\n$ \r\n \r\n6,946.31 $ \r\n \r\n7,217,771.19 $ 8,428,971.50 $ 9,038,261.79 \r\n \r\n$ 2,389,516.36 \r\n0.00 $ $ 2,389,516.36 $ $ 2,389,516.36 $ \r\n \r\n$ 2,389,516.36 $ 1,100,627.46 \r\n \r\n18,338.59 2,221.36 \r\n \r\n16,756.22 1,735.00 \r\n3,078,232.98 \r\n \r\n10,230.62 \r\n \r\n4,661.95 \r\n \r\n0.00 \r\n \r\n765,502.25 \r\n \r\n1,274,845.10 \r\n \r\n0.00 \r\n \r\n$ 3,185,809.18 $ 5,476,858.71 \r\n \r\n6,946.31 $ \r\n \r\n7,217,771.19 $ 11,614,780.68 $ 14,515,120.50 \r\n \r\n-3- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1999 \r\n \r\nREVENUES \r\nState Funds Federal Funds Taxes Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Operations \r\nCapital Outlay Debt Service \r\nPrincipal Interest \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nCapital Leases Operating Transfers In Operating Transfers Out \r\nTotal Other Financing Sources (Uses) \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JULY 1 \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\n$ 7,266,535.64 $ 119.61 \r\n3,286,746.65 218,658.25 \r\n$ 10,772,060.15 $ \r\n \r\n119,180.80 1,032,922.99 \r\n253,080.79 \r\n1.405,184.58 \r\n \r\n$ 7,013,896.40 $ \r\n \r\n433,998.55 224,528.36 309,833.83 213,853.45 569,705.89 103,085.35 751,320.59 688,169.28 \r\n11,641.00 117,845.25 \r\n \r\n56,686.80 139,295.00 \r\n \r\n6,471.69 8,891.83 \r\n \r\n$ 10,649,223.27 $ \r\n \r\n$ \r\n \r\n122,836.88 $ \r\n \r\n512,110.32 14,885.87 33,732.46 6,382.17 10,240.02 \r\n37,048.00 1,027,223.80 \r\n1,641,622.64 -236.438.06 \r\n \r\n$ \r\n \r\n93,372.00 \r\n \r\n$ \r\n \r\n-521,090.23 \r\n \r\n$ -427,718.23 $ \r\n \r\n37,545.23 37,545.23 \r\n \r\n$ \r\n \r\n-304,881.35 $ \r\n \r\n-198,892.83 \r\n \r\n937,896.06 \r\n \r\n360,102.21 \r\n \r\n1,582.37 486.36 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. \r\n \r\n-4- \r\n \r\n633,014.71 $ \r\n \r\n1.6.3-.r;.,2.7.8.'.;,;,,1.1 . \r\n \r\n EXHIBIT\"B\" \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTALS (Memorandum Only) \r\nYEAR ENDED JUNE 30, 1999 JUNE 30, 1998 \r\n \r\n$ 1,728,900.27 \r\n \r\n$ 9,114,616.71 $ 8,235,995.77 \r\n \r\n1,033,042.60 \r\n \r\n951,989.23 \r\n \r\n$ 1,835,567.12 \r\n \r\n5,122,313.77 \r\n \r\n4,842,548.86 \r\n \r\n179,623.78 \r\n \r\n68,641.78 \r\n \r\n720,004.60 \r\n \r\n741,542.18 \r\n \r\n$ 1,908,524.05 $ 1,904,208.90 $ 15,989,977.68 $ 14,772,076.04 \r\n \r\n$ 5,470,302.03 $ \r\n$ 5,470,302.03 $ $ -3,561 ,777.98 $ \r\n \r\n$ 7,526,006.72 $ 6,401,222.94 \r\n \r\n448,884.42 258,260.82 316,216.00 224,093.47 569,705.89 103,085.35 751,320.59 688,169.28 \r\n11,641.00 154,893.25 1,027,223.80 56,686.80 5,609,597.03 \r\n \r\n417,167.87 235,107.39 286,169.58 242,457.55 518,393.47 \r\n53,426.71 723,123.50 636,970.05 \r\n11,083.80 53,875.87 744,627.34 49,885.65 5,902,422.73 \r\n \r\n235,000.00 380,320.00 \r\n \r\n241,471.69 389,211.83 \r\n \r\n260,319.69 497,809.93 \r\n \r\n615,320.00 $ 18,376,467.94 $ 17,034,064.07 \r\n \r\n1,288,888.90 $ -2,386,490.26 $ -2,261,988.03 \r\n \r\n$ \r\n \r\n483,545.00 \r\n \r\n$ \r\n \r\n483,545.00 \r\n \r\n$ \r\n \r\n93,372.00 $ \r\n \r\n77,936.95 \r\n \r\n521,09023 \r\n \r\n349,444.74 \r\n \r\n-521,090.23 \r\n \r\n-349,444.74 \r\n \r\n$ \r\n \r\n93,372.00 $ \r\n \r\n77,936.95 \r\n \r\n$ -3,078,232.98 $ 3,078,232.98 \r\n \r\n1,288,888.90 $ 1,100,627.46 \r\n \r\n-2,293,118.26 $ 5,476,858.71 \r\n \r\n-2,184,051.08 7,655,99226 \r\n \r\n1,582.37 486.36 \r\n \r\n4,897.46 20.07 \r\n \r\n$ \r\n \r\n0.00 $ 2,389,516.36 $ 3,185,809.18 $ 5,476,858.71 \r\n \r\n-5- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nBUDGET AND ACTUAL - (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS \r\nYEAR ENDED JUNE 30,1999 \r\n \r\nEXHIBIT'C' \r\n \r\nGENERAL FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Taxes Other Funds \r\n \r\n$ 6,433,469.00 $ 7,266,535.64 \r\n \r\n119.61 \r\n \r\n3,140,791.00 \r\n \r\n3,286,746.65 \r\n \r\n63,946.00 \r\n \r\n218,658.25 \r\n \r\nTotal Revenues \r\n \r\n$ 9,638,206.00 $ 10,772,060.15 \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Operations \r\nCapital Outlay Debt Service \r\n \r\n$ 6,472,453.00 $ 7,013,896.40 \r\n \r\n430,880.00 230,042.00 323,616.00 209,818.00 584,115,00 116,832.00 794,637.00 669,623.00 \r\n11,641.00 21,506.00 \r\n \r\n433,998.55 224,528,36 309,833.83 213,853.45 569,705.89 103,085.35 751,320.59 688,169.28 \r\n11,641.00 117.845.25 \r\n \r\n509,757.00 \r\n \r\n56,686.80 139.295.00 \r\n15,363,52 \r\n \r\nTotal Expenditures \r\n \r\n$ 10,374,920.00 $ 10,649,223.27 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ -736,714.00 $ 122,836.88 \r\n \r\nOTHER FINANCING SOURCES (USES) \r\n \r\nOther Sources Other Uses \r\n \r\n$ \r\n \r\n93.372.00 \r\n \r\n-521,090,23 \r\n \r\nTotal Other Financing Sources (Uses) \r\n \r\n$ -427,718.23 \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -736,714.00 $ -304,881.35 \r\n \r\nFUND BALANCE JULY 1.1998 \r\n \r\n747,730.81 \r\n \r\n937.896.06 \r\n \r\nAdjustments \r\n \r\n5.52 \r\n \r\nFood Inventory - Net Change in Period \r\n \r\nDonated Commodities \r\n \r\nPurchased Food \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\n$ \r\n \r\n43,590,00 $ 119,180.80 \r\n \r\n978,879.00 \r\n \r\n1,032,922.99 \r\n \r\n268,325.00 \r\n \r\n253,080.79 \r\n \r\n$ 1,290,794.00 $ 1,405,184.58 \r\n \r\n$ 445,048.00 $ 512,110.32 \r\n \r\n13,600,00 29,492.00 \r\n20,254.00 \r\n \r\n14,885.87 33,732.46 6,382.17 10,240,02 \r\n \r\n1,000,00 1,061,315.00 \r\n \r\n37,048.00 1,027,223.80 \r\n \r\n$ 1,570,709,00 $ 1,641,622.64 $ -279,915.00 $ -236,438.06 \r\n \r\n$ \r\n \r\n37.545.23 \r\n \r\n$ \r\n \r\n37.545.23 \r\n \r\n$ -279.915.00 $ -198.892.83 \r\n \r\n351,165.28 \r\n \r\n360,102.21 \r\n \r\n1,582.37 486.36 \r\n \r\nFUND BALANCE JUNE 30, 1999 \r\n \r\n$ \r\n \r\n11,022.33 $ __6..3.3.,.,0.1..4...7..1... \r\n \r\n$ \r\n \r\n71 .25028 $ _ _1-.63,..2.7.-8.1..1.. \r\n \r\nThe notes to the general purpose financial statements are an Integral part of this statement -6- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 3D. 1999 \r\n \r\nNote 1: SUMMARy OF SIGNIFICANT ACCOUNTING POLICIES \r\nREPORTING ENTITY \r\nThe Banks County Board of Education (Board) was established under the laws ofthe State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the Board is a primary government and consists of all the organizations that compose its legal entity. \r\nFUND ACCOUNTING \r\nThe Board uses funds and an account group to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \r\nGeneral Fixed Assets are recorded as expenditures in the various funds at the time ofpurchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \r\nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \r\nThe general purpose financial statements account for all State, Federal, Taxes and Other funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \r\nGOVERNMENTAL FUND TYPES - are used to account for all or most ofa Board's educational activities. Governmental Fund Types include: \r\nGENERAL FUND - the fund used to account for all financial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board ofeducation. \r\nSPECIAL REVENUE FUND - the fund used to account for the proceeds ofspecific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are received primarily from the Georgia Department ofEducation and from the Federal government to accomplish specific educational objectives. \r\n-7- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1999 \r\n \r\nNote 1: SUMMARy OF SIGNIFICANT ACCOUNTING POLICIES \r\nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. \r\nDEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, generallong-tenn principal, interest and paying agent fees. \r\nFIDUCIARY FUND TYPES - the funds used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. These funds include: \r\nAGENCY FUNDS - the funds used to account for assets held in a fiduciary capacity for other funds, governments, or individuals. \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for general obligation debt outstanding and capital lease obligations. \r\nBASIS OF ACCOUNTING \r\nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds .present increases (i.e., revenues and other financing sources) and decreases (Le., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. \r\nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the ,governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \r\nAgency funds are purely custodial in nature and do not involve measurement ofresults of operations. \r\nGovernmental funds are accounted for using the modified accrual basis of accounting under which: \r\nRevenues are recognized when susceptible to accrual (Le., when they become both measurable and available). \"Measurable\" means the amount ofthe transaction can be determined and \"available\" means collectible within the current period or soon enough thereafter to be used to pay liabilities ofthe current period. Those revenues considered susceptible to accrual are property taxes, local option sales taxes, intergovernmental grants and investment income. \r\nExpenditures are generally recognized when the related fund liability is incurred. \r\n-8- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHffiIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1999 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nA departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share of these contracts. During fiscal year 1999, a substantial number of personnel ofthe Board were employed for a one hundred and ninety day period beginning in late August 1998 and ending in early June 1999. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1998 and ending in August 1999. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As of June 30, 1999, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1999, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1999. Also, the State's portion of the compensation paid in July and August 1999 was received and recorded as revenue in the fiscal year subsequent to June 30, 1999. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1998, were recorded in the year ended June 30, 1999. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \r\nAgency funds are accounted for using the modified accrual basis of accounting in recognizing assets and liabilities. \r\nBUDGET \r\nThe Banks County Board of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure ofthe budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level ofbudget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. \r\nThe budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval ofthis tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions ofthe Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Departni.ent ofEducation. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year:end. \r\n \r\n-9- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1999 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. \r\nINVESTMENTS \r\nCOMPOSITION OF INVESTMENTS Investments made by the Board in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase ofone year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate ofreturn shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following: \r\n(1) Obligations issued by the State of Georgia or by other states, \r\n(2) Obligations issued by the United States government, \r\n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \r\n(4) Obligations of any corporation ofthe UnitedStates government, \r\n(5) Prime banker's acceptances, \r\n(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services, \r\n(7) Repurchase agreements, and \r\n(8) Obligations ofother political subdivisions ofthe State ofGeorgia. \r\nRECEIVABLES \r\nReceivables consist ofgrant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when \r\n-10 - \r\n \r\n BANKS COUNTy BOARD OF EDUCATION \r\n \r\nEXHillIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n. JUNE 30. 1999 \r\n \r\nNote 1: SUMMARy OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\neither the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \r\n \r\nPROPERTY TAXES \r\n \r\nThe Banks County Board of Commissioners fixed the property tax levy for the 1998 tax year (calendar year) on October 22, 1998 (levy date). Taxes were due on January 20, 1999. The lien date for property taxes was January 1, 1998. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1999. The Banks County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the Board. \r\n \r\nThe tax millage rate levied for the 1998 tax year (calendar year) for the Banks County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n10.4 mills \r\n \r\nSALES TAXES \r\n \r\nSpecial Purpose Local Option Sales Tax is to be used for capital outlay for debt service. Special Purpose Local Option Sales Tax revenue during the fiscal year amounted to $1,835,567.12 and was recorded in the Debt Service Fund. The State will tenninate collection ofthis tax once an additional $7,005,844.25 has been collected or on June 30, 2002, whichever occurs first. \r\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food \r\ncommodities and for purchased foods are equally offset by reservations of fund balance which indicates that \r\nthese amounts do not constitute \"available spendable resources\" even though they are a component of net current assets. \r\n \r\nPREPAID ITEMS \r\n \r\nPayments made to vendors for services that will benefit periods subsequent to June 30, 1999, are recorded as prepaid items. \r\n \r\n-11 - \r\n \r\n BANKS COUNTy BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1999 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nGENERAL OBLIGATION BONDS \r\nThe Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond premiums and discounts, as well as issuance costs, are recognized in the financial statements during the year bonds are issued. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group. \r\nINTERFUND TRANSACTIONS \r\nThe Board has the following types of interfund transactions: \r\nReimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. \r\nOperating transfers are recorded for all interfund transactions other than reimbursements. \r\nMEMORANDUM ONLY - TOTAL COLUMNS \r\nTotal columns on the general purpose financial statements are captioned \"Memorandum Only\" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. \r\nNote 2: DEPOSITS \r\nCOLLATERALIZATION OF DEPOSITS Official Code ofGeorgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by. surety bond, by guarantee of insurance, or by collateral. The aggregate ofthe face value of such surety bond and the market value ofsecurities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \r\nAcceptable security for deposits consists of anyone ofor any combination ofthe following: \r\n(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \r\n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \r\n- 12- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1999 \r\n \r\nNote 2: DEPOSITS \r\n \r\n(3) Bonds, bills, notes, certificates ofindebtedness or other direct obligations of the United States or of the State of Georgia, \r\n \r\n(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia, \r\n \r\n(5) Bonds of any public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \r\n \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws ofthe State of Georgia, and \r\n \r\n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \r\n \r\nCATEGORIZATION OF DEPOSITS \r\n \r\nAt June 30, 1999, the bank balances were $4,209,451.05. The amounts of the total bank balances are \r\n \r\nclassified into three categories of credit risk: \r\n \r\n. \r\n \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name, \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \r\n \r\nThe Board's deposits are classified by risk category at June 30, 1999, as follows: \r\n \r\nRisk Categmy \r\n \r\nBank Balance \r\n \r\n1 \r\n \r\n$ 644,130.75 \r\n \r\n2 \r\n \r\n3,565,320.30 \r\n \r\n3 \r\n \r\n0.00 \r\n \r\nTotal \r\n \r\n$ 4.209.451.05 \r\n \r\n-13 - \r\n \r\n BANKS COUNTy BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1999 \r\n \r\nNote 3: NON-MONETARY TRANSACTIONS \r\n \r\nThe Board receives food commodities from the United States Department ofAgriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \r\n \r\nNote 4: RISK MANAGEMENT \r\n \r\nThe Board is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster and unemployment compensation. \r\n \r\nThe Board has obtained commercial insurance for risk of loss associated with torts, assets and errors or omissions. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years. \r\n \r\nThe Board has elected to self-insure for all losses related to natural disaster. The Board has not experienced any losses related to these risks in the past three years. \r\n \r\nThe Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the General Fund with expenditure and liability being reported when it is probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated. The Board has not incurred any liabilities for unemployment compenSation during the past two fiscal years. \r\n \r\nThe Board participates in the Georgia Education Workers' Compensation Trust, a public entity risk pool organized on December 1, 1991 to develop, implement and administer a program ofworkers' compensation self-insurance for its member organizations. The Board pays an annual premium to the Trust for its general insurance coverage. Additional insurance coverage is provided through an agreement by the Trust with the United States Fidelity and Guaranty Company to provide coveragefor potential losses sustained by the Trust in excess of $250,000.00 loss per occurrence, up to $2,000,000.00. \r\n \r\nThe Board has purchased surety bonds to provide additional insurance coverage as follows: \r\n \r\nPosition Covered \r\n \r\nAmount \r\n \r\nSuperintendent Each Principal Financial Officer \r\n \r\n$ 25,000.00 $ 5,000.00 $ 5,000.00 \r\n \r\n-14 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1999 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCAPITAL LEASES The Banks County Board of Education has entered into various lease agreements as lessee for football stadium lights and office equipment. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value of the future minimum lease payments as of the date of their inception. \r\n \r\nGENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are as follows: \r\n \r\nPurpose \r\n \r\nInterest Rates \r\n \r\nAmount \r\n \r\nGeneral Government - Series 1996 \r\n \r\n4.30% - 7.00% $ 7,055,000.00 \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1999, were as follows: \r\n \r\nCapital Leases \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\nTotal \r\n \r\nBalance July 1, 1998 \r\n \r\n$ 75,870.88 $ 7,290,000.00 $ 7,365,870,88 \r\n \r\nAdditions Capital Leases \r\n \r\n93,372.00 \r\n \r\n93,372.00 \r\n \r\nDeductions Payments Debt Retired \r\n \r\n6,471.69 \r\n \r\n235,000.00 \r\n \r\n6,471.69 235,000.00 \r\n \r\nBalance June 30, 1999 \r\n \r\n$==\".162,771,1,2 $ 7,055.000.00 $ 7,217,771.12 \r\n \r\nAt June 30, 1999, payments due by fiscal year which includes principal and interest for these items are as follows: \r\n \r\n-15 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1999 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nFiscal Year Ended June 30 \r\n \r\nCapital Leases \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\nTotal Debt \r\n \r\n2000 2001 2002 2003 2004 2005 - 2009 2010 - 2014 2015 - 2017 \r\n \r\n$ 44,641.97 $ 608,870.00 $ 653,511.97 \r\n \r\n42,602.07 \r\n \r\n606,720.00 \r\n \r\n649,322.07 \r\n \r\n41,757.45 \r\n \r\n599,820.00 \r\n \r\n641,577.45 \r\n \r\n41,757.45 \r\n \r\n603,210.00 \r\n \r\n644,967.45 \r\n \r\n29,668.45 \r\n \r\n600,670.00 \r\n \r\n630,338.45 \r\n \r\n3,033,170.00 3,033,170.00 \r\n \r\n3,091,537.50 3,091,537.50 \r\n \r\n1,887.437.50 1,887.437.50 \r\n \r\nTotal Principal and Interest \r\n \r\n$ 200,427.39 $11.031.435.00 $11.231,862.39 \r\n \r\nDeduct: hnputed Interest \r\n \r\n37,656.20 \r\n \r\nNet Present Value ofFuture Minimum Lease Payments \r\n \r\n$ J62,771.12 \r\n \r\nNote 6: ON-BEHALF PAYMENTS \r\n \r\nThe Board has recognized revenues and expenditures in the amount of$166,347.20 for health insurance and retirement contributions paid on the Board's behalfby the following State Agencies. \r\n \r\nGeorgia Department ofEducation Paid to the State Merit System ofPersonnel Administration For Health Insurance ofNon-Certified Personnel In the amount of$117,020.26 \r\n \r\nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $11 ,395,94 \r\n \r\nOffice ofTreasury and Fiscal Services Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost In the amount of $37,931.00 \r\n \r\n-16 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nruNE 30. 1999 \r\n \r\nNote 7: SIGNIFICANT COMMITMENTS \r\n \r\nThe following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1999, together with funding available: \r\n \r\nProject \r\n \r\nUnearned Executed Contracts \r\n \r\nFunding Available From State \r\n \r\n98/97S-606-055/New High School \r\n \r\n$ 854.790.56 $ 204.256.73 \r\n \r\nThe amounts described in this note are not reflected in the general purpose financial statements. \r\n \r\nNote 8: CONTINGENT LIABILITIES \r\n \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \r\n \r\nNote 9: RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\n \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. \r\n \r\nTRS CONTRIBUTIONS REQUIRED AND MADE \r\nEmployees ofthe Board who are covered by TRS are required by State statute to contribute 5% oftheir gross \r\nearnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuaty. The required employer contribution rate is 11.95% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: \r\n \r\nFiscal Year \r\n1999 1998 1997 \r\n \r\nPercentage Contributed \r\n100% 100% 100% \r\n \r\nRequired' Contribution \r\n$ 726,947.29 $ 637,622.96 $ 577,741.29 \r\n \r\n- 17- \r\n \r\n ASSETS Cash and Cash Equivalents Investments Accounts Receivable Inventories \r\nFood Donated Commodities Purchased Food \r\nTotal Assets \r\n \r\nBANKS COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30,1999 \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\n$ \r\n \r\n199,019,57 \r\n \r\nLOTTERY PROGRAMS \r\n \r\n4,018,13 $ \r\n \r\n315,00 \r\n \r\n18,338,59 2,221,36 \r\n \r\n$ 223,597,65 $ \r\n \r\n31_.5.,.0..0. \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n---- $ 223,597.65 $ \r\n \r\n3.1..5.....0..0.... \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-18 - \r\n \r\n EXHIBIT\"E\" \r\n \r\nFEDERAL PROGRAMS \r\n \r\nOTHER PROGRAMS \r\n \r\nTOTALS \r\nJUNE 30,1999 JUNE 30,1998 \r\n \r\n$ \r\n \r\n50,799.43 $ \r\n \r\n0.00 $ 249,819.00 $ \r\n \r\n46,503.50 \r\n \r\n291,195.32 \r\n \r\n7,006.06 \r\n \r\n11,339.19 \r\n \r\n185,120.70 \r\n \r\n18,338.59 2,221.36 \r\n \r\n16,756.22 1,735.00 \r\n \r\n$ \r\n \r\n57,805.49 $ \r\n \r\n0.00 $ 281,718.14 $ 541,310.74 \r\n \r\n$ \r\n \r\n14,286.10 \r\n \r\n42,492.62 \r\n \r\n1,026.77 \r\n \r\n$ \r\n \r\n57,805.49 \r\n \r\n$ \r\n \r\n315.00 $ \r\n \r\n14,612.91 \r\n \r\n29,010.54 \r\n \r\n90,140.26 \r\n \r\n88,087.72 \r\n \r\n76,455.36 \r\n \r\n1,026.77 \r\n \r\n$ 118,440.03 $ 181,208.53 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n$ \r\n \r\n57,805.49 $ \r\n \r\n$ \r\n0,;;..;.0..0. \"0.00 $ \r\n \r\n18,338.59 $ 2,221.36 \r\n142,718.16 \r\n163,278.11 $ \r\n \r\n16,756.22 1,735.00 \r\n341,610.99 \r\n360,102.21 \r\n \r\n0.00 $ 281,718.14 $ 541,310.74 \r\n \r\n-19 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nSPECIAL REVENUE FUND YEAR ENDED JUNE 30,1999 \r\n \r\nREVENUES \r\nState Funds Federal Funds Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration Other Support Services .Food Services Operation \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES \r\nOperating Transfers In \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures \r\nFUND BALANCE JULY 1 \r\nFood Inventory - Net Change in Period D~:mated Commodities Purchased Food \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\n$ \r\n \r\n50,662.00 $ \r\n \r\n524,588.18 \r\n \r\n253,080.79 \r\n \r\n$ 828,330.97 $ \r\n \r\n45,422.80 45,422.80 \r\n \r\n$ \r\n \r\n45,177.77 \r\n \r\n315.00 \r\n \r\n$ 1,027,223.80 $ 1,027,223.80 $ $ -198,892.83 $ \r\n \r\n45,492.77 -69,97 \r\n \r\n$ -198,892.83 $ 360,102.21 \r\n1,582.37 486.36 \r\n \r\n69.97 \r\n0.00 0.00 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 163,278.11 $ \r\n \r\n0...0..0.. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-20- \r\n \r\n EXHIBIT\"F\" \r\n \r\nFEDERAL PROGRAMS \r\n \r\nOTHER PROGRAMS \r\n \r\nTOTALS YEAR ENDED JUNE 30,1999 JUNE 30,1998 \r\n \r\n$ $ 508,334.81 \r\n$ 508,334.81 $ \r\n \r\n23,096.00 $ \r\n \r\n119,180.80 $ 1,032,922.99 \r\n253,080.79 \r\n \r\n101,811.00 951,760.95 247,738.78 \r\n \r\n'23,096.00 $ 1,405,184.58 $ 1,301,310.73 \r\n \r\n$ 443,836.55 $ \r\n14,885.87 33,417.46 \r\n6,382.17 10,240.02 37,048.00 \r\n$ 545,810.07 $ \r\n$ -37,475.26 $ \r\n \r\n23,096.00 $ 512,110.32 $ 476,994.32 \r\n \r\n14,885.87 33,732.46 \r\n6,382.17 10,240.02 37,048.00 1,027,223.80 \r\n \r\n13,277.99 26,844.00 \r\n16,991.63 28,846.40 744,627.34 \r\n \r\n23,096.00 $ 1,641,622.64 $ 1,307,581.68 \r\n \r\n0.00 $ -236,438.06 $ \r\n \r\n-6,270.95 \r\n \r\n37,475.26 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n37,545.23 \r\n \r\n49,444.74 \r\n \r\n0.00 $ 0.00 \r\n \r\n-198,892.83 $ 360,102.21 \r\n \r\n43,173.79 312,010.89 \r\n \r\n1,582.37 486.36 \r\n \r\n4,897.46 20.07 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ 163,278.11 $ 360,102.21 \r\n \r\n21 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND \r\nJUNE 30.1999 \r\n \r\nEXHIBIT\"G\" \r\n \r\nASSETS Cash and Cash Equivalents Investments Accounts Receivable \r\nTotal Assets \r\n \r\nBOND PROCEEDS \r\n \r\nGEORGIA STATE FINANCING AND \r\nINVESTMENT COMMISSION \r\n \r\nTOTALS \r\nJUNE 3D, 1999 JUNE 3D, 1998 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n113,190.11 $ 113,190.11 $ 214,226.21 \r\n \r\n2,884,380.80 \r\n \r\n787,733.87 \r\n \r\n787,733.87 \r\n \r\n1,075,399.20 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n900,923.98 $ 900,923.98 $ 4,174,006.21 \r\n \r\nLIABILITIES AND FUND EQUITY \r\n \r\nLIABILITIES \r\n \r\nContracts Payable Retainages Payable \r\n \r\nTotal Liabilities \r\n \r\nFUND EQUITY \r\n \r\nFund Balances \r\n \r\nReserved \r\n \r\nFor Purposes of Bond Issue \r\n \r\nUnreserved \r\n \r\nUndesignated \r\n \r\n$ \r\n \r\nTotal Fund Equity \r\n \r\n$ \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ \r\n \r\n$ \r\n \r\n405,323.98 $ 405,323.98 $ 656,575.63 \r\n \r\n495,600.00 \r\n \r\n495,600.00 \r\n \r\n439,197.60 \r\n \r\n$ \r\n \r\n900,923.98 $ 900,923.98 $ 1,095,773.23 \r\n \r\n0.00 $ 0.00 $ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n$ 3,078,232.98 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 $ 3,078,232.98 \r\n \r\n0.00 $ \r\n \r\n900,923.98 $ 900,923.98 $ 4,174,006.21 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-22- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nCAPITAL PROJECTS FUND YEAR ENDED JUNE 30.1999 \r\n \r\nEXHIBIT\"H\" \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ .........._ ...0=..0..0.... $ 3,078,232.98 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-23- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION STATEMENT OF CHANGES IN ASSETS AND LIABILITIES \r\nFIDUCIARY FUND TYPE - AGENCY FUND YEAR ENDED JUNE 30,1999 \r\n \r\nEXHIBIT \"I\" \r\n \r\nPUBLIC LIBRARY FUND \r\nASSETS Cash and Cash Equivalents \r\n \r\nBALANCE JULY 1,1998 \r\n \r\nADDITIONS \r\n \r\nDEDUCTIONS \r\n \r\nBALANCE JUNE 30, 1999 \r\n \r\n$ \r\n \r\n6,500.38 $ \r\n \r\n40,082.77 $ \r\n \r\n39,636.84 $ ======6=,9=4=6.:=31== \r\n \r\nLIABILITIES Funds Held for Others \r\n \r\n$ \r\n \r\n6,500.38 $ \r\n \r\n40,082.77 $ \r\n \r\n39,636.84 $ ======6=,9=4=6.=:31== \r\n \r\nSee notes to the general purpose financial statements. -24 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 30,1999 \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\n \r\nCFDA NUMBER \r\n \r\nAgriculture, U. S, Department of Child Nutrition Cluster Pass-Through From Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1999 Grant National School Lunch Program 1999 Grant \r\n \r\n* 10.553 * 10,555 \r\n \r\nTotal Child Nutrition Cluster \r\n \r\nOther Programs Pass-Through From Georgia Department of Education Food and Nutrition Program Food Distribution Program (1) Pass-Through From Office of Treasury and Fiscal Services National Forest Reserve Funds \r\n \r\n10.550 10.665 \r\n \r\nTotal U. S. Department of Agriculture \r\n \r\nEducation, U. S. Department of Special Education Cluster Pass-Through From Georgia Department of Education Individuals with Disabilities Education Act Part B - Special Education AowThrough 1999 Grant Preschool 1999 Grant Capacity Building Improvement Grant 1999 Grant \r\n \r\n84.027 84.173 84.173 \r\n \r\nTotal Special Education Cluster \r\n \r\nOther Programs Pass-Through From Georgia Department of Education Elementary and Secondary EduCation Act Tille I \r\nGrants to Local Educational Agencies \r\n1999 Grant Tille II \r\nEisenhower Professional Development 1999 Grant \r\nTille VI Innovative Education Program Strategies 1999 Grant \r\nVocational Education - Basic Grants to States \r\nHigh School Program Basic Grant 1999 Grant \r\nTech-Prep Education 1999 Grant \r\n \r\n84.010 84.281 84.298 \r\n84.048 84.243 \r\n \r\nTotal U. S. Department of Education \r\n \r\nPASSTHROUGH \r\nENTITY 10 \r\nNUMBER \r\nN/A $ N/A \r\n$ \r\nN/A N/A \r\n$ \r\nNlA $ NlA NlA \r\n$ \r\nNlA NlA NlA \r\nNlA NlA \r\n$ \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n135,143.25 331,047.78 $ 466,191,03 $ \r\n \r\n(2) 968,826,65 (3) 968,826.65 \r\n \r\n58,397.15 119.61 \r\n524,707.79 $ \r\n \r\n58,397.15 (4) 1,027,223.80 \r\n \r\n116,348.02 $ 13,492.00 \r\n1,720.48 131,560.50 $ \r\n \r\n116,348.02 13,492.00 1,720.48 \r\n131,560.50 \r\n \r\n263,950.83 13,491.48 11,052.00 \r\n \r\n263,950.83 13,491.48 11,052.00 \r\n \r\n51,280.00 37,000.00 508,334.81 $ \r\n \r\n74,304.83 (3) 37,000.00 531,359.64 \r\n \r\nTotal Federal Financial Assistance \r\n= NlA Not Available \r\n \r\n-25- \r\n \r\n$ 1,033,042.60 $ 1,558,583.44 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 3D. 1999 \r\nNotes to the Schedule of Expenditures of Federal Awards \r\n(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. \r\n(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1999 National School Lunch Program. \r\n(3) Expenditures for this program include State, and/or Other Funds. Expenditures are not maintained by fund source. \r\n(4) Funds earned on this program do not require reporting of expenditures. \r\nMajor Programs are identified by an asterisk (*) in front of the CFDA number. \r\nThe Board did not provide Federal Assistance to any Subrecipient. \r\nThe accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the Banks County Board of Education and is presented on the modified accrual basis of accounting which is the the basis of accounting used in the presentation of the general purpose financial statements. \r\n \r\nSee,notes to the general purpose financial statements. \r\n \r\n-26- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30.1999 \r\n \r\nSCHEDULE \"2\" \r\n \r\nAGENCY/FUNDING \r\nGRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Middle School Incentive Program Special Instructional Assistance In-School Suspension Mid-term Adjustment Counselors Grades 4 and 5 Technology Specialist Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs At-Risk Summer School Program Health Insurance Innovative Programs Mentoring Program Pay for Performance Program Preschool Handicapped Program Remedial Summer School Program Student Records Teachers' Retirement Lottery Programs Assistive Technology Computers in the Classroom \r\nGeorgia State Financing and Investment Commission Reimbursement on Construction Projects \r\nOffice of Treasury and Fiscal Services Public School Employees Retirement \r\nCONTRACTS \r\nEducation, Georgia Department of \r\nReading First Program Grades K-3 \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 4,460,706.00 \r\n710,520.00 98,333.00 \r\n189,125.00 52,519.00 \r\n1,225,194.00 \r\n350,549.00 81,272.00 \r\n153,292.00 54,819.00 85,616.00 \r\n304,604.00 19,660.00 28,842.00 \r\n-1,427,147.00 69,460.00 \r\n$ \r\n531,057.18 \r\n5,730.66 117,020.26 \r\n5,000.00 4,575.42 66,000.00 25,801.00 3,137.68 1,522.50 11,395.94 \r\n \r\n50,662.00 \r\n5,062.80 40,360.00 \r\n \r\n$ 4,460,706.00 \r\n710,520.00 98,333.00 \r\n189,125.00 52,519.00 \r\n1,225,194.00 \r\n350,549.00 81,272.00 \r\n153,292.00 54,819.00 85,616.00 304,604.00 19,660.00 28,842.00 -1,427,147.00 69,460.00 50,662.00 531,057.18 \r\n5,730.66 117,020.26 \r\n5,000.00 4,575.42 66,000.00 25,801.00 3,137.68 1,522.50 11,395.94 \r\n5,062.80 40,360.00 \r\n \r\n37,931.00 \r\n \r\n$ 1,728,900.27 \r\n \r\n1,728,900.27 37,931.00 \r\n \r\n23,096.00 \r\n \r\n23,096.00 \r\n \r\n$ 7,266,535.64 $ 119,180.80 $ 1,728,900.27 $ 9,114,616.71 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-27- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nYEAR ENDED JUNE 3D, 1999 \r\n \r\nSCHEDULE \"3\" \r\n \r\n(1) The Board's original cost estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax. \r\n(2) The Board's current estimate of total cost for the project. Includes all cost from project inception to completion. \r\n(3) The voters of Banks County approved the imposition of a 1% sales tax to fund the above project. Amounts expended for this project may include sales tax proceeds, state, local property taxes and/or other funds over the life of the project. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-28- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES LOTIERY PROGRAMS YEAR ENDED JUNE 30,1999 \r\n \r\nSCHEDULE \"4\" \r\n \r\nEXPENDITURES \r\nCurrent Instruction Support Services Improvement of Instructional Services \r\n \r\nASSISTIVE TECHNOLOGY \r\n \r\nCOMPUTERS IN THE \r\nCLASSROOM \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n4,747.80 $ \r\n \r\n40,429.97 $ \r\n \r\n45,177.77 \r\n \r\n315.00 \r\n \r\n315.00 \r\n \r\nTotal Expenditures \r\n \r\n$ \r\n \r\n5,062.80 $ \r\n \r\n40,429.97 $ ===45:::::,4=9=2=,7=7 \r\n \r\nSee notes to the general purpose financial statements. -29- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30.1999 \r\n \r\nSCHEDULE \"5\" \r\n \r\nMinimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis \r\nSalaries Operations \r\nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \r\nExpenditures per Audit \r\nAmount of Underexpenditure for Total Allotment \r\n \r\nFOURTEEN . WEIGHTED AND \r\nMEDIA CENTER PROGRAMS \r\n \r\n100% TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS \r\n \r\n$ \r\n \r\n5,728,288.00 $ \r\n \r\n1:...:::8..:.!1,~74.:.::5..:.::.0~0 \r\n \r\n$ \r\n \r\n5,545,531.91 \r\n \r\n477,999.05 $ _ _...::4::.::::3.:...z7,~36:.:::3:.:.:::.3~9 \r\n \r\n$ \r\n \r\n6,023,530.96 \r\n \r\n-110,844.97 $ _ _....:::5~,9~12::..!.,6:::.::8:::::5.:.:::.9~9 \r\n \r\n$ \r\n \r\n0.00 $=====0='0=0 \r\n \r\nSee notes to the general purpose financial statements. - 31 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1999 \r\n \r\nGENERAL AND CAREER EDUCATION PROGRAMS \r\nKindergarten C*) \r\nGrades 1 - 3 C*) Sub-Total K-3 \r\nGrades 4 - 5 C*) Grades 6  8 C*) \r\nGrades 9 - 12 C*) High School LaboratoriesC*) Vocational Education Laboratories C*) \r\nTotal General and Career Education Programs SPECIAL EDUCATION PROGRAMS \r\nRegular Programs Category I C*) Category II (*) Category 11/ C*) Category IV C*) Sub-Total - Regular Category VI CGifted) C*) Total Special Education Programs \r\nREMEDIAL EDUCATION PROGRAM C\u003e \r\nTotal Fourteen Weighted Programs MEDIA CENTER PROGRAMS \r\nsalaries Operations \r\nTotal Media center Programs \r\n \r\nORIGINAL \r\n \r\nALLOTMENTS FROM GEORGIA DEPARTMENT OF \r\n \r\nREQUIRED \r\n \r\n% \r\n \r\nORIGINAL \r\n \r\nMID-TERM \r\n \r\n$ \r\n \r\n550.592.00 \r\n \r\n1.275.467.00 \r\n \r\n$ 1.826,059.00 \r\n \r\n586.884.00 \r\n \r\n913.982.00 \r\n \r\n524,400.00 \r\n \r\n274,651,00 \r\n \r\n334,730.00 \r\n \r\n$ 4,460.706.00 \r\n \r\n$ \r\n \r\n495,532.80 $ \r\n \r\n1,147,920.30 \r\n \r\n90 $ 1,643,453.10 $ \r\n \r\n90 \r\n \r\n528,195.60 \r\n \r\n90 \r\n \r\n822,583.80 \r\n \r\n90 \r\n \r\n471.960.00 \r\n \r\n90 \r\n \r\n247.185.90 \r\n \r\n90 \r\n \r\n301,257.00 \r\n \r\n$ 4,014,635.40 $ \r\n \r\n-14,000.00 26,000.00 12,000.00 16.000.00 38,000.00 \r\n23,604.00 \r\n89,604.00 \r\n \r\n$ \r\n \r\n670,365.00 \r\n \r\n$ \r\n \r\n603,328.50 $ \r\n \r\n160,000.00 \r\n \r\n$ \r\n \r\n670.365.00 \r\n \r\n40,155.00 \r\n \r\n$ \r\n \r\n710,520.00 \r\n \r\n$ \r\n \r\n98,333.00 \r\n \r\n$ 5,269,559.00 \r\n \r\n90 $ \r\n \r\n603,328.50 $ \r\n \r\n90 \r\n \r\n36.139.50 \r\n \r\n$ \r\n \r\n639,468.00 $ \r\n \r\n90 $ \r\n \r\n88,499.70 $ \r\n \r\n$ 4.742,603.10 $ \r\n \r\n160,000.00 20.000.00 180,000.00 \r\n0.00 269.604.00 \r\n \r\n$ \r\n \r\n149,944,00 \r\n \r\n90 $ \r\n \r\n134,949.60 $ \r\n \r\n0.00 \r\n \r\n39,181,00 \r\n \r\n100 \r\n \r\n39.181.00 \r\n \r\n$ \r\n \r\n189,125.00 \r\n \r\n$ \r\n \r\n174.130.60 $ \r\n \r\n0.00 \r\n \r\nTotal Fourteen Weighted and Media center Programs \r\n \r\n$ 5.458.684.00 \r\n \r\n$ 4.916.733.70 $ \r\n \r\n269.604.00 \r\n \r\nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \r\nTotal Staff Development Programs (*) Identifies Fourteen Weighted Programs. \r\nsee notes to the general purpose financial statements. \r\n \r\n$ \r\n \r\n16,575.00 \r\n \r\n35,944,00 \r\n \r\n$ \r\n \r\n16,575.00 $ \r\n \r\n35.944.00 \r\n \r\n$ _.....5.2..5.1.9.0..0. 100 $ \r\n \r\n52.519.00 $ \r\n \r\n0.00 0.00 \r\n...0..,0.0.. \r\n \r\n- 32 - \r\n \r\n SCHEDULE \"6\" \r\n \r\nEDUCATION TOTAL \r\nREQUIRED \r\n \r\nACTUAL EXPENDITURES \r\n \r\nSALARIES \r\n \r\nOPERATIONS \r\n \r\nTOTAL \r\n \r\nAMOUNT OF UNDEREXPENDITURE \r\nFOR REQUIRED ALLOTMENT \r\n \r\n$ \r\n \r\n481,532.80 $ \r\n \r\n483,183.20 $ \r\n \r\n12,155.59 $ \r\n \r\n495,338.79 \r\n \r\n1,173,920.30 \r\n \r\n1,143,022.06 \r\n \r\n44,175.97 \r\n \r\n1,187,198.03 \r\n \r\n$ 1,655,453.10 $ 1,626,205.26 $ \r\n \r\n56,331.56 $ 1,682,536.82 $ \r\n \r\n0.00 \r\n \r\n544,195.60 \r\n \r\n577,377.14 \r\n \r\n24,470.64 \r\n \r\n601,847.78 \r\n \r\n0.00 \r\n \r\n860,583.80 \r\n \r\n941,523.57 \r\n \r\n5,0,883.90 \r\n \r\n992,407.47 \r\n \r\n0.00 \r\n \r\n471,960.00 \r\n \r\n641,392.87 \r\n \r\n93,334.45 \r\n \r\n734,727.32 \r\n \r\n0.00 \r\n \r\n270,789.90 \r\n \r\n264,545.29 \r\n \r\n8,853.48 \r\n \r\n273,398.77 \r\n \r\n0.00 \r\n \r\n301,257.00 \r\n \r\n332,573.73 \r\n \r\n62,582.15 \r\n \r\n395,155.88 \r\n \r\n0.00 \r\n \r\n$ 4,104,239.40 $ 4,383,617.86 $ \r\n \r\n296,456.18 $ 4,680,074.04 \r\n \r\n$ \r\n \r\n763,328.50 \r\n \r\n$ \r\n \r\n4,865.54 $ \r\n \r\n354.54 $ \r\n \r\n5,220.08 \r\n \r\n224.939.30 \r\n \r\n2.602.91 \r\n \r\n227.542.21 \r\n \r\n. 446,708.31 \r\n \r\n133,799.74 \r\n \r\n580.508.05 \r\n \r\n19,727.91 \r\n \r\n846.55 \r\n \r\n20,574.46 \r\n \r\n$ \r\n \r\n763,328.50 $ \r\n \r\n696,241.06 $ \r\n \r\n137,603.74 $ \r\n \r\n833,844.80 \r\n \r\n0.00 \r\n \r\n56,139.50 \r\n \r\n76,423.43 \r\n \r\n1,370.53 \r\n \r\n77,793.96 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n819,468.00 $ \r\n \r\n772,664.49 $ \r\n \r\n138,974.27 $ \r\n \r\n911,638.76 \r\n \r\n$ \r\n \r\n88,499.70 $ \r\n \r\n129,915.25 $ \r\n \r\n1,932.94 $ \r\n \r\n131,848.19 \r\n \r\n0.00 \r\n \r\n$ 5.012.207.10 $ 5,286,197.60 $ \r\n \r\n437,363.39 $ 5.723,560.99 \r\n \r\n$ \r\n \r\n134,949.60 $ \r\n \r\n259,334.31 \r\n \r\n$ \r\n \r\n259,334.31 \r\n \r\n0.00 \r\n \r\n39,181.00 \r\n \r\n$ \r\n \r\n40,635.66 \r\n \r\n40,635.66 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n174,130.60 $ \r\n \r\n259,334.31 $ \r\n \r\n40,635.66 $ \r\n \r\n299.969.97 \r\n \r\n$ 5,186,337.70 $ 5,545.531.91 $ \r\n \r\n477,999.05 $ 6,023,530.96$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n16.575.00 \r\n \r\n35,944.00 \r\n \r\n$ _.....52iiOiiliij,.5i1ii9iiii0ii.0. \r\n \r\n$ \r\n \r\n27,416.76 $ \r\n \r\n27.416.76 \r\n \r\n26.473.73 \r\n \r\n26.473.73 \r\n \r\n$ \r\n \r\n53,890.49 $ \r\n \r\n53.890.49 $ \r\n \r\n...;;:00.0. \r\n \r\n- 33 - \r\n \r\n SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS \r\n \r\n RUSSELL W. HINTON \r\nSTATE AUDITOR \r\n(404) 6562174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.w', Suite 214 Atlanta, Georgia 30334-8400 \r\nApril 14, 2000 \r\n \r\nHonorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board ofEducation \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH \r\nGOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the financial statements of Banks County Board ofEducation as of and for the year ended June 30, 1999, and have issued our report thereon dated April 14, 2000. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. \r\nCompliance \r\nAs part of obtaining reasonable assurance about whether Banks County Board of Education's financial statements are free ofmaterial misstatement, we performed tests ofits compliance with certain provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and accordingly, we do not express such an opinion. The results of our tests disclosed no instances ofnoncompliance that are required to be reported under Government Auditing Standards. \r\nInternal Control Over Financial R.\u003cmorting \r\nIn planning and performing our audit, we considered Banks County Board ofEducation's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. However, we noted a certain matter involving the internal control over financial reporting and its operation \r\n99YB-40 \r\n \r\n that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control over financial reporting that, in our judgement, could adversely affect Banks County Board of Education's ability to record, process, summarize and report financial data consistent with assertions of management in the financial statements. The reportable condition is described in the accompanying Schedule of Findings and Questioned Costs as item FS-6061-99-01. \r\nA material weakness is a condition in which the design or operation of one or more ofthe internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the nonnal course ofperforming their assigned functions. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control that might be reportable conditions and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, the reportable condition described above, is considered to be a material weakness. \r\nThis report is intended solely for the infonnation and use of management, members of the Banks County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties. \r\nRespectfully submitted, \r\n~~l(j.4J~ Russell W. Hinton State Auditor \r\nRWH:jb 99YB-40 \r\n \r\n RUSSELL W. HINTON \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nApril 14,2000 \r\n \r\nHonorable Roy E. Barnes, Governor Members ofthe General Assembly Members of the State Board of Education \r\nand Superintendent and Members ofthe Banks County Board of Education \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULARA-133 \r\nLadies and Gentlemen: \r\nCompliance \r\nWe have audited the compliance of Banks County Board of Education with the types of compliance requirements described in the U.S. Office ofManagement and Budget (OMB) Circular A-I33 Compliance Supplement that are applicable to each ofits major Federal programs for the year ended June 30, 1999. Banks County Board ofEducation's major Federal programs are identified in the accompanying Schedule ofFindings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each ofits major Federal programs is the responsibility ofBanks County Board of Education'S management. Our responsibility is to express an opinion on Banks County Board ofEducation's compliance based on our audit. \r\nWe conducted our audit of compliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in GoYernment Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits ofStates, Local Governments, and Non-Profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major Federal program occurred. An audit includes examining, on a test basis, evidence about the Banks County Board of Education's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on Banks County Board ofEducation's compliance with those requirements. \r\n \r\n99SA-30 \r\n \r\n In our opinion, the Banks County Board ofEducation complied, in all material respects, with the requirements referred to above that are applicable to each of its major Federal programs for the year ended June 30, 1999. \r\nInternal Control Over Compliance \r\nThe management of Banks County Board of Education is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts and grants applicable to Federal programs. In planning and performing our audit, we considered Banks County Board ofEducation's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A-13 3. \r\nWe noted a certain matter involving the internal control over compliance and its operation that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control over compliance that, in our judgement, could adversely affect the Banks County Board of Education's ability to administer a major Federal program in accordance with applicable requirements oflaws, regulations, contracts and grants. The reportable condition is described in the accompanying Schedule ofFindings and Questioned Costs as item FA-6061:\"99-01. \r\nA material weakness is a condition in which the design or operation of one or more ofthe internal control components does not reduce to a relatively low level ofrisk that noncompliance with applicable requirements oflaws, regulations, contracts and grants that would be material in relation to a major Federal program being audited may occur and not be detected within a timely period by employees in the normal course of . performing their assigned functions. Our consideration of the internal control over compliance would not necessarily disclose all matters in the internal control that might be reportable conditions and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, we believe the reportable condition described above is not a material weakness. \r\nThis report is intended solely for the information and use of management, members of the Banks County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties. \r\nRespectfully submitted, \r\n \r\nRWH:jb 99SA-30 \r\n \r\nR sell W. Hinton State Auditor \r\n \r\n SECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\nAUDITEE'S RESPONSE \r\nSUMMARy SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30. 1999 \r\n \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\nFS-6061-97-01 FS-6061-98-01 \r\n \r\nFurther Action Not Warranted Unresolved - See Corrective Action/Responses \r\n \r\nCORRECTIVE ACTIONIRESPONSES \r\n \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number: FS-6061-98-01 \r\n \r\nDue to current staffing limitations and budgetary considerations prohibiting the hiring of additional administrative staff, the Board has decided not to pursue the recording of general fixed assets on the financial statements. \r\n \r\n SECTION IV FINDINGS AND QUESTIONED COSTS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\nSCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED ruNE 30. 1999 \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n1. Type of Report Issued on the Financial Statements The auditor's opinion on the Banks County Board of Education's financial statements was qualified for various departures from generally accepted accounting principles. \r\n2. Reportable Conditions in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the Banks County Board ofEducation disclosed a financial statement reportable condition related to the following control category. \r\nGeneral Fixed Assets \r\nThe reportable condition described above is considered to be a material weakness. \r\n3. Noncompliance Material to the Financial Statements The audit ofthe Banks County Board ofEducation disclosed no instances ofnoncompliance that were deemed to be material to the financial statements. \r\n4. Re.portable Conditions in Internal Control Over Meijor Programs The audit report for the Banks County Board ofEducation disclosed a reportable condition in internal control over major programs for the following compliance requirement. \r\nEquipment and Real Property Management \r\nThe reportable condition described above is not considered to be a material weakness. \r\n5. Type ofRe,port Issued on Compliance for Major Programs The auditor's opinion on the Banks County Board of Education's report on compliance with requirements applicable to major programs was unqualified. \r\n6. Audit Findings Required to be Reported by Section .510(a) ofQMB Circular A-133 \r\nThe Banks County Board ofEducation's audit disclosed an audit finding required to be reported by section .510(a) ofOMB Circular A-I33. This audit finding is included in section N ofthis report. \r\n7. Melior Programs Federal awards audited as major programs are as follows: 10.553 Food and Nutrition Program - Food Services - School Breakfast Program 10.555 Food and Nutrition Program - Food Services - National School Lunch Program \r\n8. 1.}!pe \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000.00. \r\n-I - \r\n \r\n BANKSCQUNTYBOARDOFEDUCATIQN SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\nYEAR ENDED JUNE 30. 1999 \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n9. Low Risk Auditee The Banks County Board ofEducation was audited as a low risk auditee based on a waiver granted by the U. S. Department ofEducation. \r\nIT FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition - Material Weakness Repeated From Prior Year Finding Control Number: FS-6061-99-0I \r\nThe Banks County Board ofEducation did not maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. This condition results in the general purpose financial statements ofthe Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings, and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained ofall additions and deletions to the General Fixed Assets Account Group. \r\nManagement's Response: \r\nWe concur with this recommendation. Due to current staffing limitations and budgetary considerations prohibiting the hiring ofadditional administrative staffthe Board has decided not to pursue the recording of general fixed assets on the financial statements. \r\nill FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \r\nEQUIPMENT AND REAL PROPERTY MANAGEMENT Inadequate Internal Controls U. S. Department of Agriculture Pass-Through Georgia Department ofEducation Reportable Condition Finding Control Number: FA-6061-99-01 \r\nAudit tests performed on the Child Nutrition Cluster Programs (CFDA 10.553 and 10.555) revealed that equipment inventory records were incomplete and failed to meet property management standards as set forth in Chapter 41, of the Financial Management for Georgia Local Units of Administration. The inventory records, as presented for audit, did not contain identification ofcost, funding source or acquisition dates. Two \r\n-2- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\nSCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30. 1999 \r\nill FEDERAL AWARD FINDINGS AND QUESTIONED COSTS EQUIPMENT AND REAL PROPERTY MANAGEMENT Inadequate Internal Controls U. S. Department of Agriculture Pass-Through Georgia Department ofEducation Reportable Condition Finding Control Number: FA-6061-99-01 equipment purchases during the period under review were not included on inventory records and did not contain adequate identification labels. In addition, no evidence ofthe required annual physical inventorywas available. Management should familiarize themselves with Federal regulations relating to the equipment inventory for the Child Nutrition Cluster programs. Management should develop an adequate internal control structure consisting of procedures designed to provide for the proper identification and maintenance of equipment inventory records as required. Management's Response: We concur with this recommendation. Appropriate procedures are being developed to ensure that all required inventory records will be maintained and updated annually. \r\n-3- \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1997-h98","title":"Audit report, Banks County Board of Education, Homer, Georgia, year ended June 30, 1998, June 30, 1998","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits.","Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Banks County, 34.35413, -83.49737"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1998-06-30"],"dcterms_description":["Title fluctuates: Audits conducted \"in accordance with generally accepted auditing standards\" are issued as: Audit report; reviews that are \"substantially less in scope than an audit in accordance with generally accepted auditing standards\" are issued as: Review or Management report. For issues for fiscal year ending June 30, 2000-June 30, 2008, issues where audits are conducted \"in accordance with auditing standards generally accepted in the United States of America\" are issued as: Report on audit of the financial statements. For issues for fiscal year ending June 30, 2009-, issues where audits are conducted \"in accordance with auditing standards generally accepted in the United States of America\" are issued as: Annual financial report ... (including independent auditor's reports)","Issues for years ended \u003cJune 30, 1994 (released in 1995)\u003e-June 30, 1995 (released in 1996) issued by the State of Georgia, Dept. of Audits, years ended June 30, 1996 (released in 1997)- by the Dept. of Audits and Accounts.","Year ended June 30, 1994 (online surrogate); title from PDF title page (journal archive page, Georgia Government Publications database, viewed September 30, 2015).","Fiscal year ended June 30, 2014 (received via FTP 8/4/15 from Georgia Dept. of Audits and Accounts) (online surrogate) (Georgia Government Publications database, viewed September 3, 2015)."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Dept. of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Banks County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Banks County--Auditing--Periodicals.","Education--Georgia--Banks County--Finance--Statistics--Periodicals.","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Banks County Board of Education, Homer, Georgia, year ended June 30, 1998, June 30, 1998"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1997-h98"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1997-h98"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":["Periodicals--fast"],"fulltext":"f\\ 600 \r\nj \r\nd..~ \r\nd- \r\n91-9~ \r\n \r\nAUDIT REPORT \r\n \r\nBANKS COUNTY BOARD OF EDUCATION \r\n \r\nHOMER, GEORGIA \r\n \r\nYEAR ENDED JUNE 30, 1998 \r\n \r\nl \r\n \r\n/ \r\n \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 WASHINGTON STREET \r\nATLANTA, GEORGIA 30334-8400 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\nEXlllBITS \r\n \r\nGENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nCOMBINED STATEMENTS - OVERVIEW \r\n \r\nA \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\nALL FUND TYPES AND ACCOUNT GROUP \r\n \r\n2 \r\n \r\nB \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nALL GOVERNMENTAL FUND TYPES \r\n \r\n4 \r\n \r\nC \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\n(NON-GAAP BASIS) \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n6 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n7 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING AND INDIVIDUAL FUND STATEMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nE \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n20 \r\n \r\nF \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n21 \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nG \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n22 \r\n \r\nH \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n23 \r\n \r\nI \r\n \r\nFIDUCIARY FUND TYPES \r\n \r\nSTATEMENT OF CHANGES IN ASSETS AND LIABILITIES \r\n \r\nAGENCY FUND \r\n \r\n24 \r\n \r\nSCHEDULES \r\n \r\n1 . SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\n25 \r\n \r\n2 SCHEDULE OF STATE REVENUE \r\n \r\n27 \r\n \r\n3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\n \r\n28 \r\n \r\n4 SCHEDULE OF EXPENDITURES \r\n \r\nLOTTERY PROGRAMS \r\n \r\n29 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nADDmONAL FINANCIAL INFORMATION \r\n \r\nSCHEDULES \r\n \r\nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \r\n \r\n5 \r\n \r\nOVERALL \r\n \r\n31 \r\n \r\n6 \r\n \r\nBY PROGRAM \r\n \r\n32 \r\n \r\nSECTION II \r\nCOMPLIANCE AND INTERNAL CONTROL REPORTS \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 \r\n \r\nSECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\nSECTIONN FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\n \r\n SECTION I FINANCIAL \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDI10R \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 26, 1999 \r\n \r\nHonorable Roy E. Barnes, Governor Members ofthe General Assembly Members ofthe State Board of Education \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nLadies and Gentlemen: \r\nWe have audited the accompanying general purpose financial statements of the Banks County Board of Education, as of and for the year ended June 30, 1998, as listed in the table of contents. These general purpose financial statements are the responsibility of the Banks County Board ofEducation's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. \r\nExcept as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \r\nGovernmental Accounting Standards Board Technical Bulletin 98-1, Disclosures About Year 2000 Issues, \r\nrequires disclosure of certain matters regarding the year 2000 issue. Banks County Board of Education has included such disclosures in the significant commitments section ofthe Notes to the Financial Statements. Because ofthe unprecedented nature ofthe year 2000 issue, its effects and the success ofrelated remediation efforts will not be fully determinable until year 2000 and thereafter. Accordingly, insufficient audit evidence exists to support Banks County Board of Education's disclosures with respect to the year 2000 issue made in the Notes to the Financial Statements. Further, we do not provide assurance that Banks County Board of \r\n \r\n98ARL-13A \r\n \r\n Education is or will be year 2000 ready, that Banks County Board of Education's year 2000 remediation efforts will be successful in whole or in part, or that parties with which Banks County Board ofEducation does business will be year 2000 ready. \r\n \r\nAs described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \r\n* The general purpose financial statements of the Board did not contain a General Fixed Assets \r\nAccount Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. \r\n* School activity accounts maintained at the individual schools are not included in the general purpOse \r\nfinancial statements. To conform to generally accepted accounting principles, these accounts should be included In the general purpose financial statements: \r\n* The Board did not recognize as expenditures, in the year ended June 30, 1998, a portion of salaries \r\nand the corresponding employer's cost of related ~nefits earned for contractual services completed prior to June 30, 1998. Also funds received, subsequent to June 30, 1998, from the Georgia Department ofEducation for the State's share ofthese unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1997, were improperly recorded in the year ended June 30, 1998. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \r\n \r\nThe aggregate effects on the general purpose financial statements ofthese variances or omissions have not been determined, but are believed to be material. \r\n \r\nIn our opinion, except for the effects of such adjustments, if any, as might have been determined to be \r\n \r\n.necessary had we been able to examine sufficient evidence regarding year 2000 disclosures as discussed in \r\n \r\nthe third paragraph and except for the effects on the general purpose financial statements of the matters \r\n \r\nreferred to in the preceding paragraph, the general purpose financial statements referred to above present \r\n \r\nfairly, in all material respects, the financial position of the Banks County Board of Education as of \r\n \r\nJune 30, 1998, and the results ofits operations for the year then ended, in conformity with generally accepted \r\n \r\naccounting principles. \r\n \r\n. \r\n \r\nIn accordance with Government Auditing Standards, we have also issued our report dated March 26, 1999, .on our consideration ofthe Banks County Board ofEducation's internal control over fmancial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. \r\n \r\nOur audit was performed for the purpose of forming an opinion on the general pUrpose financial statements ofthe Banks County Board ofEducation taken as a whole. The accompanying combining and individual fund statements (Exhibits E through 1) and the financial schedules (Schedules 1 through 6), which includes the Schedule ofExpenditures ofFederal Awards as required by U. S. Office ofManagement and Budget Circular \r\n \r\n98ARL-13A \r\n \r\n A-133, Audits o/States, Local Governments, and Non-Profit Organizations, are presented for purposes of additional analysis and are not a required part ofthe general purpose financial statements. Such information has been subjected to the auditing procedures applied in the audit ofthe general purpose financial statements and in our opinion, except for the effects of such adjustments, if any, as might have been determined to be necessary had we been able to examine sufficient evidence regarding year 2000 disclosures as discussed in the third paragraph and except for the effects of the matters referred to in the fourth paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. \r\nA copy of this report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \r\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:jb 98ARL-13A \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET \r\nALL FUND TYPES AND ACCOUNT GROUP JUNE 30. 1998 \r\n \r\n EXHIBIT \"A\" \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nFIDUCIARY FUND TYPE AGENCY FUND \r\n \r\nACCOUNT GROUP GENERAL \r\nLONG-TERM DEBT \r\n \r\nTOTALS \r\n \r\n(Memorandum Only) \r\n \r\nJUNE 30, 1998 \r\n \r\nJUNE 30, 1997 \r\n \r\n$ \r\n \r\n159,540.42 $ \r\n \r\n6,500.38 \r\n \r\n$ \r\n \r\n504,360.81 $ 2,865,769.84 \r\n \r\n666,392.09 \r\n \r\n4,851,057.62 \r\n \r\n4,991,978.27 \r\n \r\n274,694.95 \r\n \r\n1,775,339.97 \r\n \r\n234,349.44 \r\n \r\n16,756.22 1,735.00 \r\n \r\n$ \r\n \r\n1,100,627.46 \r\n \r\n1,100,627.46 \r\n \r\n11,858.76 1,714.93 \r\n37,761.75 \r\n \r\n$ 1,100,627.46 $ \r\n \r\n6,189,372.54 75,870.88 \r\n \r\n6,189,372.54 75,870.88 \r\n \r\n7,462,238.25 48,253.62 \r\n \r\n6,500.38 $ \r\n \r\n7,365,870.88 $ 14,515,120.50 $ 15,653,924.86 \r\n \r\n$ \r\n \r\n491,716.94 $ \r\n \r\n172,688.59 \r\n \r\n78,400.36 \r\n \r\n72,216.84 \r\n \r\n5,364.28 \r\n \r\n656,575.63 \r\n \r\n155,844.00 \r\n \r\n439,197.60 \r\n \r\n37,160.40 \r\n \r\n$ \r\n \r\n6,500.38 \r\n \r\n6,500.38 \r\n \r\n6,404.87 \r\n \r\n$ \r\n \r\n75,870.88 \r\n \r\n75,870.88 \r\n \r\n48,253.62 \r\n \r\n7,290,000.00 \r\n \r\n7,290,000.00 \r\n \r\n7,500,000.00 \r\n \r\n$ \r\n \r\n6,500.38 $ \r\n \r\n7,365,870.88 $ 9,038,261.79 $ 7,997,932.60 \r\n \r\n$ 1,100,627.46 \r\n0.00 $ $ 1.100,627.46 $ $ 1,100,627.46 $ \r\n \r\n$ $ 1,100,627.46 \r\n \r\n37,761.75 \r\n \r\n16;756.22 1,735.00 \r\n3,078,232.98 \r\n \r\n11,858.76 1,714.93 \r\n5,857,044.09 592,740.00 \r\n \r\n4,661.95 \r\n \r\n0.00 \r\n \r\n1,274,845.10 \r\n \r\n1,154,872.73 \r\n \r\n0.00 \r\n \r\n$ 5,476,858.71 $ 7,655,992.26 \r\n \r\n6,500.38 $ \r\n \r\n7,365,870.88 $ 14,515,120.50 $ 15,653,924.86 \r\n \r\n-3- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED STATEMENl OF: REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nc ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1998 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ \r\n \r\nThe notes to the general purpose financial statements are an integral part of t~is statement. -4- \r\n \r\n937,896.06 $ \r\n \r\n3.6.0.'.:.;10;:;2;;;,2.1. \r\n \r\n EXHIBIT\"B\" \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTALS \r\n \r\n(Memorandum Only) \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 1998 \r\n \r\nJUNE 30, 1997 \r\n \r\n$ 1,903,003.00 \r\n \r\n$ 8,235,995.n $ 5,751,908.22 \r\n \r\n951,989.23 \r\n \r\n878,957.57 \r\n \r\n$ 1,757,563.63 \r\n \r\n4,842,548.86 \r\n \r\n2,933,698.81 \r\n \r\n317,268.62 \r\n \r\n9,On.10 \r\n \r\n741,542.18 \r\n \r\n411,207.87 \r\n \r\n$ 2,220,271.62 $ 1,766,640.73 $ 14,n2,076.04 $ 9,975,n2.47 \r\n \r\n$ 5,891,822.73 $ \r\n$ 5,891,822.73 $ $ -3,671 ,551.11 $ \r\n \r\n$ \r\n210,000.00 493,775.02 703,n5.02 $ 1,062,865.71 $ \r\n \r\n6,401,222.94 $ \r\n417,167.87 235,107.39 286,169.58 242,457.55 518,393.47 \r\n53,426.71 723,123.50 636,970.05 . 11,083.80 \r\n53,875.87 744,627.34 49,885.65 5,902,422.73 \r\n260,319.69 497,809.93 \r\n17,034,064.07 $ \r\n-2,261 ,988.03 $ \r\n \r\n5,617,789.51 \r\n325,404.35 233,841.20 263,473.55 184,609.83 451,145.28 \r\n98,560.63 679,572.34 633,097.49 \r\n10,428.40 20,480.89 663,576.81 46,706.60 1,164,444.58 \r\n49,182.59 8,8n.66 \r\n10,451,191.71 \r\n-475,419.24 \r\n \r\n$ \r\n \r\n300,000.00 \r\n \r\n$ \r\n \r\n300,000.00 \r\n \r\n$ \r\n \r\n37,307.44 \r\n \r\n$ \r\n \r\nn,936.95 \r\n \r\n349,444.74 \r\n \r\n-349,444.74 \r\n \r\n7,500,000.00 \r\n39,560.32 -39,560.32 \r\n \r\n$ \r\n \r\nn,936.95 $ 7,537,307.44 \r\n \r\n$ -3,371,551.11 $ 6,449,784.09 \r\n \r\n1,062,865.71 $ 37,761.75 \r\n \r\n-2,184,051.08 $ 7,655,992.26 \r\n \r\n7,061,888.20 587,842.01 \r\n \r\n4,897.46 20.07 \r\n \r\n6,662.53 . -400.48 \r\n \r\n$ 3,078,232.98 $ 1.100,627.46 $ 5,476,858.71 $ 7,655,992.26 -5- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nBUDGET AND ACTUAL - (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS \r\nYEAR ENDED JUNE 30, 1998 \r\n \r\nEXHIBIT \"C\" \r\n \r\nGENERAL FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Taxes Other Funds \r\n \r\n$ 5,733,061.00 $ 6,231,181.77 \r\n \r\n228.28 \r\n \r\n3,241,291.00 \r\n \r\n3,084,985.23 \r\n \r\n19,000,00 \r\n \r\n167,457,68 \r\n \r\nTotal Revenues \r\n \r\n$ 8,993,352.00 $ 9,483,852.96 \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation services Central Support Services Other Support Services Food services Operation Community services Operations \r\nCapital Outlay Debt Service \r\n \r\n$ 5,928,n3.00 $ 5,924,228.62 \r\n \r\n410,190.00 211,817,00 284,271,00 203,167,00 508,509,00 \r\n85,921,00 736,198,00 \r\n695,674.00 11,100.00 13,697.00 \r\n \r\n403,889.88 208,263.39 286,169.58 225,465.92 518,393,47 \r\n53,426,71 \r\n723,123.50 636,970.05 \r\n11,083.80 25,029.47 \r\n \r\n300,000.00 \r\n \r\n49,885,65 10,600.00 54,354.60 \r\n \r\nTotal Expenditures \r\n \r\n$ 9,389,317.00 $ 9,130,884.64 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ -395,965,00 $ 352,968.32 \r\n \r\nOTHER FINANCING SOURCES (USES) \r\n \r\nOther Sources Other Uses \r\n \r\n$ \r\n \r\nn,936.95 \r\n \r\n$ \r\n \r\n-11,500,00 \r\n \r\n-349,444.74 \r\n \r\nTotal Other Financing Sources (Uses) \r\n \r\n$ \r\n \r\n-11,500.00 $ -271,507.79 \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ \r\n \r\n-407,465.00 $ \r\n \r\n81,460.53 \r\n \r\nFUND BALANCE JULY 1,1997 \r\n \r\nn6,554,74 \r\n \r\n856,435.53 \r\n \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\n$ \r\n \r\n79,664.00 $ 101,811.00 \r\n \r\n827,607.00 \r\n \r\n951,760.95 \r\n \r\n244,500.00 \r\n \r\n247,738.78 \r\n \r\n$ 1,151,n1.00 $ 1,301,310,73 \r\n \r\n$ 421,930.00 $ 476,994.32 \r\n \r\n6,000,00 \r\n \r\n13,2n,99 26,844.00 \r\n \r\n18,527.00 \r\n \r\n16,991.63 \r\n \r\n885,070.00 \r\n \r\n28,846.40 744,627.34 \r\n \r\n$ 1,331,527.00 $ 1,307,581,68 \r\n \r\n$ -179,756.00 $ \r\n \r\n-6,270,95 \r\n \r\n$ \r\n \r\n49,444.74 \r\n \r\n$ \r\n \r\n49,444.74 \r\n \r\n$ -179,756.00 $ 314,1n.92 \r\n \r\n43,173.79 312,010.89 \r\n \r\n4,897.46 20.07 \r\n \r\nFUND BALANCE JUNE 30,1998 \r\n \r\n$ 369,089,74 $ 937,896,06 \r\n \r\n$ 134,421,92 $ 360,102,21 \r\n \r\nThe notes to the general purpose financial statements are an integral part ofthis statement. -6- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\n: NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1998 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nREPORTING ENTITY \r\n \r\nThe Banks County Board ofEducation (Board) was established under the laws ofthe State of Georgia and \r\n \r\noperates under the guidance of a school board elected by the voters and a Superintendent appointed by the \r\n \r\nBoard. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. \r\n \r\nIts budget is not subject to approval by any other entity. Accordingly, the Board is a primary government and \r\n \r\nconsists ofall the organizations that compose its legal entity. \r\n \r\nco \r\n \r\nFUND ACCOUNTING \r\n \r\nThe Board uses funds and an account group to report on its financial position and the results ofits operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \r\n \r\nGeneral Fixed Assets are recorded as expenditures in the various funds at the time ofpurchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \r\n \r\nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances ofthese accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \r\n \r\nThe general purpose financial stat~ments account for all State, Federal, Taxes and Other funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \r\n \r\nGOVERNMENTAL FUND TYPES - are used to account for all or most ofa Board's educational activities. Governmental Fund Types include: \r\n \r\n.GENERAL FUND - the fund used to account for all financial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. \r\n \r\nSPECIAL REVENUE FUND - the fund used to account for the proceeds ofspecific.revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are received primarily from the Georgia Department ofEducation and from the Federal government to accomplish specific educational objectives. \r\n \r\n-7- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXlllBIT \"0\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1998 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction ofmajor capital facilities. \r\n \r\nDEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees. \r\n \r\nFIDUCIARY FUND TYPES - the funds used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. These funds include: \r\n \r\nAGENCY FUNDS - the funds used to account for assets held in a fiduciary capacity for other funds, governments, or individuals. \r\n \r\nACCOUNT GROUP \r\n \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for general obligation debt outstanding and material capital lease obligations. \r\n \r\nBASIS OF ACCOUNTING \r\n \r\nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focus. \r\n \r\nAll governmental funds are accounted for using a current financial resources measurement focus. With this \r\n \r\nmeasurement focus, only current assets and current liabilities generally are included on the balance sheet. \r\n \r\nOperating statements of these funds present increases (Le., revenues and other financing sources) and \r\n \r\ndecreases (Le., expenditures and other financing uses) in net current assets. Their reported fund balance is \r\n \r\nconsidered a measure of available spendable resources. \r\n \r\n. \r\n \r\nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \r\n \r\nAgency funds are purely custodial in nature and do not involve measurement of results of operations. \r\n \r\nGovernmental funds are accounted for using the modified accrual basis of accounting under which: \r\n \r\nRevenues are recognized when susceptible to accrual (Le., when they become botQ. measurable and available). \"Measurable\" means the amount ofthe transaction can be determined and \"available\" means collectible within the current, period or soon enough thereafter to be used to pay liabilities ofthe current period. Those revenues considered susceptible to accrual are property taxes, local option sales taxes, intergovernmental grants and investment income. \r\n \r\nExpenditures are generally recognized when the related fund liability is incurred. \r\n \r\n-8- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1998 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nA departure from the above definitions is the accounting treatment afforded the final two payments on General F~d teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share of these contracts. During fiscal year 1998, a substantial number of personnel ofthe Board were employed for a one hundred and ninety day period beginning in late August 1997 and ending in early June 1998. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1997 and ending in August 1998. State grants to fund the State's share ofthese contracts were disbursed from the Georgia Department ofEdu~ation to the Board in the same twelve months. As of June 30, 1998, compensation under these employment contracts had been earned, .but two ofthe twelve monthly payments, due for July and August 1998, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1998. Also, the State's portion of the compensation paid in July and August 1998 was received and recorded as revenue in the fiscal year subsequent to June 30, 1998. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1997, were recorded in the year ended June 30, 1998. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \r\n \r\nAgency funds are accounted for using the modified accrual basis of accounting in recognizing assets and \r\n \r\nliabilities. \r\n \r\n. \r\n \r\nRESTATEMENT OF PRIOR YEAR FUND BALANCE \r\nIn fiscal year 1998, the Board implemented GASB Statement 31, \"Accounting and Financial Reporting for Certain Investments and for Extemallnvestment Pools\". The statement requires certain investments to be reported at fair value rather than at cost. The beginning fund balance ofthe Capital Projects Fund has been decreased by $4,805.52 for this change in accounting principle. \r\n \r\nBUDGET \r\nThe Banks County Board of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is. no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. \r\n \r\nThe budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school \r\n \r\n-9- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"0\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1998 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nbudget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. \r\nCASH AND CASH EQUIVALENTS \r\nCOMPOSmON OF DEPOSITS Cash and cash equivalents consist of deposits in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. \r\nINVESTMENTS \r\nCOMPOSITION OF INVESTMENTS Investments made by the Board in nonparticipa~g interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase ofone year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate ofreturn shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following: \r\n(1) Obligations issued by the State of Georgia or by other states, \r\n(2) Obligations issued by the United States government, \r\n(3) Obligations fully insured or guaranteed by the United States government or a United States o government agency, \r\n. (4) Obligations of any corporation ofthe United States government, \r\n(5) Prime banker's acceptances, \r\n(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services, \r\n(7) Repurchase agreements, and \r\n(8) Obligations of other political subdivisions of the State of Georgia. \r\n \r\n- 10- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXIDBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1998 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nRECEIVABLES \r\n \r\nReceivables consist of grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose fmancial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \r\n \r\nPROPERTY TAXES \r\n \r\nThe Banks County Board of Commissioners fixed the property tax levy for the 1997 tax year (calendar year) on November 10, 1997 (levy date). Taxes were due on January 20, 1998. The lien date for property taxes was January 1, 1997. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1998. The Banks County Tax Commissioner bills and collects the property taxes for the Board ofEducation, withholds 2.5% oftaxes collected as a fee for tax collection and remits the balance of taxes collected to the Board. \r\n \r\nThe tax millage rate levied for the 1997 tax year (calendar year) for the Banks County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n10.40 mills \r\n \r\nSALES TAXES \r\n \r\nSpecial Purpose Local Option Sales Tax is to be used for capital outlay for educational purposes and or debt service. Special Purpose Local Option Sales Tax collected by the State and remitted to the Board during the fiscal year amounted to $1,757,563.63 mid was recorded in the Debt Service Fund. The State will terminate collection of this tax once an additional $8,841,411.37 has been collected or on June 30, 2002 whichever occurs first. \r\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations offund balance which indicates that these amounts do not constitute \"available spendable resources\" even though they are a component of net current assets. \r\n \r\n- 11 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1998 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nGENERAL OBLIGATION BONDS \r\nThe Board issues general obligation bonds to provide funds for the acquisition and construction of major capital.facilities. Bond premiums and discounts, as well as issuance costs, are recognized in the financial statements during the year bonds are issued. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group. \r\nINTERFUND TRANSACTIONS \r\nThe Board has the following types of interfund transactions: \r\nReimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. \r\nOperating transfers are recorded for all interfund transactions other than reimbursements. \r\nMEMORANDUM ONLY - TOTAL COLUMNS \r\nTotal columns on the general purpose financial statements are captioned \"Memorandum Only\" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither aresuch data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Certain reclassifications have been made to the comparative data to conform to the current year classifications. \r\nNote 2: DEPOSITS AND INVESTMENTS \r\nCOLLATERALIZATION OF DEPOSITS Official Code ofGeorgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate ofthe face value of such surety bond and the market value ofsecurities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \r\nAcceptable security for deposits consists of anyone ofor any combination ofthe following: \r\n(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \r\n- 12- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXillBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1998 \r\n \r\nNote 2: DEPOSITS AND INVESTMENTS \r\n \r\n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \r\n \r\n(3) Bonds, bills, notes, certificates ofindebtedness or other direct obligations of the United States or of the State of Georgia, \r\n \r\n(4) Bonds, bills, notes, certificates ofindebtedness or other obligations ofthe counties or municipalities of the State of Georgia, \r\n \r\n(5) Bonds of any public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use ofthe bonds for this purpose, \r\n \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and \r\n \r\n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the Unit~d States government both as to principal and interest -and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \r\n \r\nCATEGORIZATION OF DEPOSITS At June 30, 1998, the bank balances were $905,000.97. The amounts ofthe total bank balances are-classified into three categories of credit risk: \r\n \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \r\n \r\nThe Board's deposits are classified by risk category at June 30, 1998, as follows: \r\n \r\nRisk Category \r\n \r\nBank Balance \r\n \r\n1 \r\n \r\n$ 100,000.00 \r\n \r\n2 \r\n \r\n805,000.97 \r\n \r\n3 \r\n \r\n0.00 \r\n \r\nTotal \r\n \r\n$ 905.000.97 \r\n \r\n- 13- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXlllBIT \"D\" \r\n \r\n: NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1998 \r\n \r\nNote 2: DEPOSITS AND INVESTMENTS \r\n \r\nCATEGORIZATION OF INVESTMENTS Investments are classified as to risk by the three categories described below: \r\n \r\nCategory 1 - Insured or registered, or securities held by the Board or the Board's agent in the Board's name. \r\nCategory 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the Board's name. \r\nCategory 3 - Uninsured or unregistered, with securities held by the counterparty, or by its trust department or agent but not in the Board's name. \r\n \r\nAt June 30, 1998, the carrying value of the Board's total investments was $4,726,165.77. The investments are classified as to risk categories as folloW's: \r\n \r\nType of Investment \r\nU. S. Government \r\nInvestments not Subject to Categorization: \r\nMutual Funds \r\n \r\nRisk Categories \r\n \r\n2 \r\n \r\n3 \r\n \r\nCarrying Amount \r\n \r\nFair Value \r\n \r\n$,======!Q~.Q~Q $ 4.273 225 99 $,======!Q~.Q~Q $ 4,273,225.99 $ 4,273,225.99 \r\n \r\n452,939.78 \r\n \r\n452,939.78 \r\n \r\nTotal Investments \r\n \r\n$ 4726.16577 $ 4726 16577 \r\n \r\nNote 3: NON-MONETARY TRANSACTIONS \r\n \r\nThe Board rec~ives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \r\n \r\nNote 4: RISK MANAGEMENT \r\n \r\nThe Board is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster and unemployment compensation. \r\n \r\nThe Board has obtained commercial insurance for risk of loss associated with torts, assets and errors or omissions. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years. \r\n \r\nThe Board has elected to self-insure for a11losses related to natural disaster. The Board has not experienced any losses related to these risks in the past three years. \r\n \r\n- 14- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXIllBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1998 \r\n \r\nNote 4: RISK MANAGEMENT \r\n \r\nThe Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the General Fund with expenditure and liability being reported when it is probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated. The Board has not incurred any liabilities for unemployment compensation during the past two fiscal years. \r\n \r\nThe Board participates in the Georgia Education Workers' Compensation Trust, a public entity risk pool organized on December 1, 1991 to develop, implement and administer a program of workers' compensation self-insurance for its member organizations. The Board pays an annual premium to the Trust for its general insurance coverage. Additional insurance coverage is provided through an agreement by the Trust with the United States Fidelity and Guaranty Company to provide coverage for potential losses sustained by the Trust in excess of $250,000.00 loss per occurrence, up to $2,000,000.00. \r\n \r\nThe Board has purchased surety bonds to provide additional insurance coverage as follows: \r\n \r\nPosition Covered \r\n \r\nAmount \r\n \r\nSuperintendent Each Principal Financial Officer \r\n \r\n$ 25,000.00 $ 5,000.00 $ 5,000.00 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCAPITAL LEASES The Banks County Board ofEducation has entered into various lease agreements as lessee for buses and office equipment. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value ofthe future minimum lease payments as of the date of their inception. \r\n \r\nGENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are as follows: \r\n \r\nPurpose \r\n \r\nInterest Rates \r\n \r\nAmount \r\n \r\nGeneral Government - Series 1996 \r\n \r\n4.30% - 7.00% $ 7.290.000.00 \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1998, were as follows: \r\n \r\n- 15 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT\"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1998 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCapital Leases \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\nTotal \r\n \r\nBalance July 1, 1997 \r\n \r\n$ 48,253.62 $ 7,500,000.00 $ 7,548,253.62 \r\n \r\nAdditions \r\n \r\n77,936.95 \r\n \r\n77,936.95 \r\n \r\nDeductions Payments \r\n \r\n50.319.69 \r\n \r\n210,000.00 \r\n \r\n260,319.69 \r\n \r\nBalance June 30, 1998 \r\n \r\n$ 75.870.88 $ 7.290.000.00 $ 7.365.870.88 \r\n \r\nAt June 30, 1998, payments due by fiscal year which includes principal and interest for these items are as \r\n \r\n~~: \r\n \r\n. \r\n \r\nFiscal Year Ended June 30 \r\n1999 2000 2001 2002 2003 2004 - 2008 2009 - 2013 2014 - 2018 \r\nTotal Principal and Interest \r\nDeduct: Imputed Interest \r\nNet Present Value of Future Minimum Lease Payments \r\n \r\nCapital Leases \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\nTotal Debt \r\n \r\n$ 15,363.52 $ 615,320.00 $ 630,683.52 \r\n \r\n22,468.52 \r\n \r\n608,870.00 \r\n \r\n631,338.52 \r\n \r\n20,428.62 \r\n \r\n606,720.00 \r\n \r\n. 627,148.62 \r\n \r\n19,584.00 \r\n \r\n599,820.00 \r\n \r\n619,404.00 \r\n \r\n19,584.00 \r\n \r\n603,210.00 \r\n \r\n622,794.00 \r\n \r\n7,495.00 3,020,360.00 3,027,855.00 \r\n \r\n3,083,487.50 3,083,487.50 \r\n \r\n2.508,967.50 2,508,967.50 \r\n \r\n$ 104,923.66 $11.646.755,00 $11.751.678,66 \r\n \r\n29,052.78 \r\n \r\n$ 75.870.88 \r\n \r\nNote 6: ON-BEHALF PAYMENTS \r\nThe Board has recognized revenues and expenditures in the amount of $151 ,506.78 for health insurance and retirement contributions paid on the Board's behalf by the following State Agencies. \r\n \r\n- 16- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXIDBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1998 \r\n \r\nNote 6: ON-BEHALF PAYMENTS \r\n \r\nGeorgia Department of Education Paid to the State Merit System ofPersonnel Administration For Health Insurance ofNon-Certified Personnel In the amount of$108,335.20 \r\n \r\nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of$10,699.58 \r\n \r\nOffice of Treasury and Fiscal Services Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost In the amount of $32,472.00 \r\n \r\nNote 7: SIGNIFICANT COMMITMENTS \r\n \r\nThe following is an analysis of significant outstanding constniction or renovation contracts executed by the Board as ofJune 30, 1998, together with funding available: \r\n \r\nProject \r\n \r\nUnearned Executed Contracts \r\n \r\nFunding Available From State \r\n \r\n98/97S-606-055/New High School Football Field Lights \r\n \r\n:$ 5,465,100.12 $ 1,933,157.00 \r\n \r\n93.392.00 \r\n \r\n0.00 \r\n \r\n$ 5.558.492.12 $ 1.933.157.00 \r\n \r\nThe amounts described in this note are not reflected in the general purpose financial statements. \r\n \r\nAt June 30, 1998, the Board had no outstanding contractual commitments for the purpose ofmaking computer systems and other electronic equipment year. 2000 compliant. The year 2000 issue is the result of shortcomings in many electronic data processing systems and other equipment that make operations beyond year 1999 troublesome. The year 2000 issue is ofprimary concern for the Board's financial accounting system and school nutrition meal accountability system. The following stages have been identified as necessary to implement a year 2000 compliant systems. \r\n \r\nAwareness Stage - Encompasses establishing a budget and project plan for dealing with the year 2000 issue. \r\n \r\nAssessment Stage - The actual process of identifying all of its systems and individual components of the systems to check for compliance. \r\n \r\n- 17 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXIllBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1998 \r\n \r\nNote 7: SIGNIFICANT COMMITMENTS \r\nRemediation Stage - When changes are made to systems and equipment. \r\nValidationITesting Stage - The process of ensuring that the changes made to systems and equipment will produce a year 2000 compliant system. \r\nIt will be necessary for the Board to progress through all four of these stages for each computer and/or electronic system, not already year 2000 compliant, in order to assure that these systems will not be adversely affected. \r\nThe Board's financial accounting software (GENESIS) and hardware (Wang VS) is owned by the State (Georgia Department of Education). As of June 30, 1998, the State had not contracted for the remediation ofeither the Wang VS operating system otthe GENESIS accounting software. In the subsequent period, the Georgia Department ofEducation has remediated the Wang VS operating system and the updated system was installed at all GENESIS sites as ofDecember 9, 1998. The Georgia Department ofEducation has remediated the GENESIS software and conducted tests at nine pilot sites. The remediated GENESIS software has been provided to all boards of education currently utilizing the GENESIS accounting software. \r\nAt June 30, 1998, the Board ofEducation was using the MicroCheck System at each school cafeteria for cash collection purposes. This system was not year 2000 compliant. In the subsequent fiscal year, the Board replaced the MicroCheck System with Pro Lunch, a system which is year 2000 compliant. \r\nNote 8: CONTINGENT LIABILITIES \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures . which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \r\nThe Board is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition of these proceedings is not presently determinable, but is not believed to be material to the general purpose financial statements. \r\nNote 9: RETIREMENT PLANS \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer defmed benefit pension plan. TRS provides service retirement, disability retirement and survivors benefits for its \r\n \r\n- 18 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1998 \r\n \r\nNote 9: RETIREMENT PLANS \r\n \r\nmembers in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. \r\n \r\nTRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by TRS are required by State statute to contribute 5% oftheir gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by th~ TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 11.81% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: \r\n \r\nFiscal Year \r\n \r\nPercentage Contributed \r\n \r\nRequired Contribution \r\n \r\n1998 1997 1996 \r\n \r\n100% 100% 100% \r\n \r\n$ 637,622.96 $ 577,741.29 $ 525,439.07 \r\n \r\n- 19- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1998 \r\n \r\nEXHIBIT wE\" \r\n \r\nASSETS Cash and Cash Equivalents Investments Accounts Receivable Inventories \r\nFood Donated Commodities Purchased Food \r\nTotal Assets \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nFEDERAL PROGRAMS \r\n \r\nTOTALS JUNE 30,1998 JUNE 30,1997 \r\n \r\n$ \r\n \r\n46.503.50 \r\n \r\n$ \r\n \r\n46.503,50 $ 225.157.31 \r\n \r\n291.195,32 \r\n \r\n291,195.32 \r\n \r\n116,283.83 \r\n \r\n59.178,36 $ \r\n \r\n68.00 $ \r\n \r\n125.874.34 \r\n \r\n185,120.70 \r\n \r\n114,668,83 \r\n \r\n16,756,22 1.735.00 \r\n \r\n16.756.22 1,735.00 \r\n \r\n11.858,76 1.714.93 \r\n \r\n$ 415,368,40 $ \r\n \r\n68,00 $ \r\n \r\n125,874,34 $ \r\n \r\n541.310.74 $ \r\n \r\n469.683,66 \r\n \r\nLIABILITIES AND FUND EQUITY \r\n \r\nLIABILITIES \r\n \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable \r\n \r\n$ \r\n \r\n$ \r\n \r\n15.269.59 \r\n \r\n39.996.60 \r\n \r\nTotal Uabilities \r\n \r\n$ \r\n \r\n55.266,19 $ \r\n \r\nFUND EQUITY \r\n \r\nFund Balances Reserved For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated \r\n \r\n$ \r\n \r\n16.756.22 \r\n \r\n1.735.00 \r\n \r\n341.610,99 $ \r\n \r\nTotal Fund Equity \r\n \r\n$ 360.102.21 $ \r\n \r\ntotal Uabilities and Fund Equity \r\n \r\n$ 415.368,40 $ \r\n \r\n68,00 $ 68.00 $ \r\n \r\n14.544.91 $ 74.870.67 36.458.76 \r\n125.874.34 $ \r\n \r\n14,612.91 $ 90,140.26 76,455.36 \r\n181.208.53 $ \r\n \r\n57.631.56 22.460,09 72,216.84 \r\n5,364.28 \r\n157,672.n \r\n \r\n0.00 $ 0.00 $. \r\n \r\n$ \r\n0.00 0.00 $ \r\n \r\n16.756.22 $ 1.735.00 \r\n341.610.99 \r\n360,102:21$ \r\n \r\n11.858.76 1.714.93 \r\n298,437,20 \r\n312.010.89 \r\n \r\n68,00 $ 125.874.34 $ 541.310.74 $ 469,683,66 \r\n \r\nSee notes to the general purpose financial statements, \r\n \r\n-20- \r\n \r\n See notes to the general purpose financial statements. \r\n \r\n-21 - \r\n \r\n ASSETS Cash and Cash Equivalents Investments Accounts Receivable \r\nTotal Assets \r\n \r\nBANKS COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30, 1998 \r\n \r\nEXHIBIT\"G\" \r\n \r\nBOND PROCEEDS \r\n \r\nGEORGIA STATE FINANCING AND \r\nINVESTMENT \r\nCOMMISSION \r\n \r\nTOTALS \r\n \r\nJUNE 30, 1998 \r\n \r\nJUNE 30.1997 \r\n \r\n$ \r\n \r\n193,852,18 $ \r\n \r\n20.374,03 $ \r\n \r\n214,226.21 $ 1.755,988.84 \r\n \r\n2,884,380.80 \r\n \r\n2,884,380,80 \r\n \r\n4,875.694.44 \r\n \r\n1,075,399,20 \r\n \r\n1,075,399.20 \r\n \r\n23,347.80 \r\n \r\n$ 3,078,232.98 $ 1p95,n3,23 $ 4.174.006.21 $ 6,655,031.08 \r\n \r\n. See notes to the general purpose financial statements. \r\n \r\n-22 - \r\n \r\n See notes to the general purpose financial statements. \r\n \r\n-23 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION STATEMENT OF CHANGES IN ASSETS AND LIABILITIES \r\nFIDUCIARY FUND TYPE - AGENCY FUND YEAR ENDED JUNE 3D, 1998 \r\n \r\nEXHIBIT \"I\" \r\n \r\nLIABILITIES Funds Held for Others \r\n \r\n$ \r\n \r\n6,404,87 $ \r\n \r\n34.845,28 $ \r\n \r\n34.749,n $====~6.=50=0=.3=8 \r\n \r\nSee notes to the general purpose financial statements. -24 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\nYEAR ENDED JUNE 30, 1998 \r\n \r\n. \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\n \r\nCFDA NUMBER \r\n \r\nPASSTHROUGH \r\nENTITY 10 \r\nNUMBER \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\nAgriculture, U. S. Department of \r\n \r\nPass-Through from Office of Treasury and Fiscal Services \r\n \r\nNational Forest Reserve Funds \r\n \r\n10,665 \r\n \r\nPass-Through from Georgia Department of Education \r\n \r\nFood and Nutrition Program \r\n \r\nFood Services \r\n \r\nSchool Breakfast Program \r\n \r\n1998 Grant \r\n \r\n* 10,553 \r\n \r\nNational School Lunch Program \r\n \r\n1998 Grant \r\n \r\n* 10,555 \r\n \r\nFood Distribution Program (1) \r\n \r\n10.550 \r\n \r\nN/A $ \r\nN/A N/A N/A \r\n \r\n228,28 \r\n133,819.29 308,758,27 $ 43A46.05 \r\n \r\n(4) \r\n(2) 701,181,29 (3) 43A46.05 \r\n \r\nTotal U, S, Department of Agriculture \r\n \r\n$ \r\n \r\n486,251.89 $ \r\n \r\n744,627.34 \r\n \r\nEducation, U. S. Department of Pass-Through from Georgia Department of Education Elementary and Secondary Education Act Title I Grants to Local Educational Agencies 1998 Grant Title II Eisenhower ProfessiOnal Development 1998 Grant Title VI Innovative Education Program Strategies 1998 Grant Individuals with Disabilities Education Act Part B - Special Education Flow Through 1998 Grant Preschool 1998 Grant Vocational Education - Basic Grants to States High School Program Basic Grant 1998 Grant Tech-Prep Education 1998 Grant \r\n \r\n84.010 \r\n \r\nN/A $ \r\n \r\n84.281 \r\n \r\nN/A \r\n \r\n84.298 \r\n \r\nN/A \r\n \r\n235,463.94 $ 17,500.00 9,284.00 \r\n \r\n235,463.94 \r\n17,500~00 \r\n9,284,00 \r\n \r\n84,027 \r\n \r\nN/A \r\n \r\n84.173 \r\n \r\nN/A \r\n \r\n96,815.98 14,919.00 \r\n \r\n96,815,98 14,919.00 \r\n \r\n84.048 \r\n \r\nN/A \r\n \r\n84,243 \r\n \r\nN/A \r\n \r\n52,129.57 39,624.85 \r\n \r\n52,129.57 78,624,85 (3) \r\n \r\nTotal U. S. Department of Education \r\n \r\n$ \r\n \r\n465,737.34 $ \r\n \r\n504,737.34 \r\n \r\nTotal Federal Financial Assistance N/A=Not Available \r\n \r\n$ \r\n \r\n951,989.23 $ \r\n \r\n1,249,364.68 \r\n \r\n-25- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 3D. 1998 \r\n \r\nSCHEDULE \"1\" \r\n \r\nNotes to the Schedule of Expenditures of Federal Awards \r\n(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. \r\n(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1998 National School Lunch Program. \r\n(3) Expenditures for this program include State, and/or Other Funds. Expenditures are not maintained by fund source. \r\n(4) Funds eamed on this program do not require reporting of expenditures. \r\nMajor Programs are identified by an asterisk (*) in front of the CFDA number. \r\nThe Board did not provide Federal Assistance to any Subrecipienl \r\nThe accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the Banks County Board of Education and is presented on the modified accrual basis of accounting which is the same basis of accounting used in the presentation of the general purpose financial statements. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-26- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30. 1998 \r\n \r\nSCHEDULE \"2\" \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-27 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nYEAR ENDED JUNE 30. 1998 \r\n \r\nSCHEDULE \"3\" \r\n \r\nPROJECT \r\n \r\nORIGINAL ESTIMATED \r\nCOST (1) \r\n \r\nCURRENT ESTIMATED \r\nCOST (2) \r\n \r\nAMOUNT EXPENDED IN CURRENT \r\nYEAR (3) \r\n \r\nAMOUNT EXPENDED IN PRIOR \r\nYEARS \r\n \r\nFor the retirement of $10,598,975.00 of general obligation debt consisting of the principal and interest on the School District's series 1996 general obligation school bonds for the years 1997 through 2007 and the payment to redeem said bonds maturing in the years 2009 through 2017 \r\n \r\n$ 10,598,975.00 $ 10.598.975.00 $ \r\n \r\n703.775.02 $ \r\n \r\n0..0.=0 \r\n \r\n(1) The Board's original cost estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax. \r\n(2) The Board's current estimate of total cost for the project. Includes all cost from project inception to completion. \r\n(3) The voters of Banks County approved the imposition of a 1% sales tax to fund the above project. Amounts expended for this project may include sales tax proceeds, state. local property taxes and/or other funds over the life of the project. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 28 - . \r\n \r\n EXPENDITURES \r\nCurrent Instruction \r\n \r\nBANKS COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES LOTTERY PROGRAMS YEAR ENDED JUNE 30, 1998 \r\n \r\nSCHEDULE \"4\" \r\n \r\nINSTRUCTIONAL TECHNOLOGY \r\n \r\nASSISTIVE \r\n \r\nCLASSROOM \r\n \r\nTECHNOLOGY TECHNOLOGY \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n5,217.00 $ \r\n \r\n53,000.00 $===58=,2=:1=7:=.0=0 \r\n \r\nSee notes to the general purpose financial statements. - 29- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \r\n \r\nYEAR ENDED JUNE 30.1998 \r\n \r\n. \r\n \r\nSCHEDULE \"5\" \r\n \r\nMinimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis \r\nSalaries Operations \r\nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \r\nExpenditures per Audit \r\nAmount of Underexpenditure for Total Allotment \r\n \r\nFOURTEEN WEIGHTED AND MEDIA CENTER \r\nPROGRAMS \r\n \r\n100% TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS \r\n \r\n$ 5,073,054.00 $ _ _..:2:.:.7::::.r.O,=82::::8.:.:::.8~0 \r\n \r\n$ 4,847,848.58 388,161.68 $ _ _..:3:.::::.53::::.r.,77~5.:.:::.5..:...1 \r\n$ 5,236,010.26 \r\n \r\n-111,186.11 $ 5,124,824.15 \r\n \r\n$ \r\n \r\n0.00 $=====0.=00= \r\n \r\nSee notes to the general purpose financial statements. - 31 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ANAlYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1998 \r\n \r\nGENERAL AND CAREER EDUCATION PROGRAMS Kindergarten (*) \r\nGrades 1 - 3 (*) Sub-Total - K-3 \r\nGrades 4 - 5 r) Gmties6-8r) Grades 9 - 12 (*) High School Laboratories (*) Vocational Education Laboratories (*) \r\nTotal General and Career Education Programs SPECIAL EDUCATION PROGRAMS \r\nRegular Programs Category I r) Category II (*) Category III (*) Category IV (*) \r\nSub-Total - Regular Category VI (Gifted) (*) \r\nTotal Special Education Programs REMEDIAL EDUCATION PROGRAM (*) \r\nTotal Fourteen Weighted Programs MEDIA CENTER PROGRAMS \r\nSalaries Operations \r\nTotal Media Center Programs \r\n \r\nAlLOTMENTS FROM DEPARTMENT OF EDUCATION \r\n \r\nREQUIRED \r\n \r\nORIGINAl ~ \r\n \r\nORIGiNAl \r\n \r\nMID-TERM \r\n \r\n$ \r\n \r\n505,905.00 \r\n \r\n$ \r\n \r\n455,314,50 \r\n \r\n1,129,695.00 \r\n \r\n1,016,725.50 $ \r\n \r\n$ 1,635,600.00 90 $ 1,472,040.00 $ \r\n \r\n494,047.00 90 \r\n \r\n444,642.30 \r\n \r\n834,457.00 90 \r\n \r\n751,011.30 \r\n \r\n527,665.00 90 \r\n \r\n474,898.50 \r\n \r\n218,250.00 90 \r\n \r\n196,425.00 \r\n \r\n286,158,00 90 \r\n \r\n257,542.20 \r\n \r\n$ 3,996,177.00 \r\n \r\n$ 3,596,559.30 $ \r\n \r\n52,984,70 52,984.70 28,000.00 55,153.00 -36,137.70 \r\n22,165.00 122,165.00 \r\n \r\n$ \r\n \r\n598,865.00 \r\n \r\n$ \r\n \r\n538,978.50 $ \r\n \r\n58,000.00 \r\n \r\n$ \r\n \r\n598,865.00 90 $ \r\n \r\n538,978.50 $ \r\n \r\n31,000.00 90 \r\n \r\n27,900.00 \r\n \r\n$ \r\n \r\n629,865.00 \r\n \r\n$ \r\n \r\n566,878.50 $ \r\n \r\n$ \r\n \r\n95,597.00 90 $ \r\n \r\n86,037.30 $ \r\n \r\n$ 4,721,639.00 \r\n \r\n$ 4,249,475.10 $ \r\n \r\n58,000.00 6,000.00 64,000.00 \r\n0,00 186,165.00 \r\n \r\n$ \r\n \r\n134,139,00 90 $ \r\n \r\n120,725.10 $ \r\n \r\n0.00 \r\n \r\n31,111.00 90 \r\n \r\n27,999.90 \r\n \r\n$ \r\n \r\n165,250.00 \r\n \r\n$ \r\n \r\n148,725.00 $ \r\n \r\n0.00 \r\n \r\nTotal Fourteen Weighted and Media Center Programs \r\n \r\n$ 4,886,889.00 \r\n \r\n$ 4,398,200,10 $ \r\n \r\n186,165.00 \r\n \r\nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \r\nTotal Staff Development Programs (*) Identifies Fourteen Weighted Programs. See notes to the general purpose financial statements. \r\n \r\n$ \r\n \r\n14,875,00 \r\n \r\n36,377.00 \r\n \r\n$ \r\n \r\n14,875.00 $ \r\n \r\n36,377.00 \r\n \r\n$ \r\n \r\n51,252.00 100 $ \r\n \r\n51,252.00 $ \r\n \r\n0.00 0.00 \r\n....0.0.0. \r\n \r\n- 32 - \r\n \r\n SCHEDULE \"6\" \r\n \r\nTOTAL REQUIRED \r\n \r\nACTUAL EXPENDITURES \r\n \r\nSALARIES \r\n \r\nOPERATIONS \r\n \r\nTOTAL \r\n \r\nAMOUNT OF UNDEREXPENDITURE \r\nFOR REQUIRED ALLOTMENT \r\n \r\n$ \r\n \r\n455,314.50 $ \r\n \r\n467,544.97 $ \r\n \r\n18,192.12 $ \r\n \r\n485,737.09 \r\n \r\n1,069,710.20 \r\n \r\n1,042,889.20 \r\n \r\n68,786.n \r\n \r\n1,111,675.97 . \r\n \r\n$ 1,525,024.70 $ 1,510,434.17 $ \r\n \r\n86,978.89 $ 1,597,413.06 $ \r\n \r\n0.00 \r\n \r\n472,642.30 \r\n \r\n445,011.24 \r\n \r\n30,367.79 \r\n \r\n475.379.03 \r\n \r\n0.00 \r\n \r\n806,164.30 \r\n \r\n862,055.68 \r\n \r\n52,758.01 \r\n \r\n914,813.69 \r\n \r\n0.00 \r\n \r\n438,760.80 \r\n \r\n520,734.21 \r\n \r\n29,052.32 \r\n \r\n549,786.53 \r\n \r\n0.00 \r\n \r\n196,425.00 \r\n \r\n194,892.68 \r\n \r\n10,374.79 \r\n \r\n205,267.47 \r\n \r\n0.00 \r\n \r\n279,707.20 \r\n \r\n307,445.98 \r\n \r\n31,562.19 \r\n \r\n339,008.17 \r\n \r\n0.00 \r\n \r\n$ 3,718,724.30 $ 3,840,573.96 $ \r\n \r\n241,093.99 $ 4,081,667.95 \r\n \r\n$ \r\n \r\n596,978.50 \r\n \r\n$ \r\n \r\n5,On.94 $ 194,675.44 307,624.89 25,363.02 \r\n \r\n415.47 $ 3,176.65 106,336.70 \r\n376.64 \r\n \r\n5,493.41 197,852.09 413,961.59 25,739.66 \r\n \r\n$ \r\n \r\n596,978.50 $ \r\n \r\n532,741.29 $ \r\n \r\n110,305.46 $ \r\n \r\n643,046.75 \r\n \r\n0.00 \r\n \r\n33,900.00 \r\n \r\n50,650.25 \r\n \r\n1,566.06 \r\n \r\n52,216.31 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n630,878.50 $ \r\n \r\n583,391.54 $ \r\n \r\n111,871.52 $ \r\n \r\n695,263.06 \r\n \r\n$ \r\n \r\n86,037.30 $ \r\n \r\n181,833.14 $ \r\n \r\n810.00 $ \r\n \r\n182,643.14 \r\n \r\n0.00 \r\n \r\n$ 4,435,640.10 $ 4,605,798.64 $ \r\n \r\n353,775.51 $ 4,959,574.15 \r\n \r\n$ \r\n \r\n120,725.10 $ \r\n \r\n242,049.94 \r\n \r\n$ \r\n \r\n242,049.94 \r\n \r\n0.00 \r\n \r\n27,999.90 \r\n \r\n$ \r\n \r\n34,386.17 \r\n \r\n34,386.17 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n148,725.00 $ \r\n \r\n242,049.94 $ \r\n \r\n34,386.17 $ \r\n \r\n276,436.11 \r\n \r\n$ 4,584,365.10 $ 4,847,848.58 $ \r\n \r\n388,161.68 $ 5,236,010.26 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n14,875.00 \r\n \r\n36,3n.00 \r\n \r\n$ -==_=5=1,2;;;,;5;;;;2;,;;'0.=,,0 \r\n \r\n$ \r\n \r\n38,n2.69 $ \r\n \r\n38,772.69 \r\n \r\n16,213.61 \r\n \r\n16,213.61 \r\n \r\n$ \r\n \r\n54,986.30 $ \r\n \r\n54,986.30 $ \r\n \r\n....,;0.0.0. \r\n \r\n- 33 - \r\n \r\n SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS \r\n \r\n CLAUDE L. VICKERS \r\nSTAlE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 26, 1999 \r\n \r\nHonorable Roy E. Barnes, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Banks County Board of Education \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the financial statements of Banks County Board of Education as of and for the year ended June 30, 1998, and have issued our report thereon dated March 26, 1999. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. \r\nWe were unable to examine sufficient. audit evidence regarding year 2000 disclosures as required by \r\nGovernmental Accounting Standards Board Technical Bulletin 98-1, Disclosures About Year 2000 Issues. \r\nThis bulletin requires disclosure of certain matters regarding the year 2000 issue in order for financial statements to be prel?ared in conformity with generally accepted accounting principles. \r\nCompliance \r\nAs part of obtaining reasonable assurance about whether Banks County Board of Education's financial statements are free ofmaterial misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination offinancial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. \r\n98YB-40 \r\n \r\n Internal Control Over Financial Reporting \r\nIn planning and performing our audit, we considered Banks CountyBoard ofEducation's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. However, we noted a certain matter involving the internal control over financial reporting and its operation that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control over financial reporting that, in our judgement, could adversely affect Banks County Board ofEducation's ability to record, process, summarize and report financial data consistent with assertions of management in the financial statements. The reportable condition is described in the accompanying Schedule of Findings and Questioned Costs as item FS-6061-98-0I. \r\nA material weakness is a condition in which the design or operation of one or more ofthe internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be \r\nmaterial in relation to the fmancial statements being audited may occur and not be detected within atimely \r\nperiod by employees in the normal course ofperforming their assigned functions. Our consideration ofthe internal control over financial reporting would not necessarily disclose all matters in the internal control that might be reportable conditions and accordingly, would.not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, the reportable condition described above, is considered to be a material weakness. \r\nThis report is intended for the information ofmanagement, the Federal cognizant agency, Federal awarding agencies and pass through entities. This restriction is not intended to limit the distribution ofthis report which is a matter of public record. \r\n \r\nCLV:jb 98YB-40 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street. S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 26, 1999 \r\n \r\nHonorable Roy E. Barnes, Governor Members ofthe General Assembly Members ofthe State Board of Education \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE INACCORDANCE WITH OMB CIRCULARA-133 \r\nLadies and Gentlemen: \r\nCompliance \r\nWe have audited the co~pliance of Banks County Board of Education with the types of compliance \r\nrequirements described in the u.s. Office ofManagement and Budget (OME) Circular A-I33 Compliance \r\nSupplement that are applicable to each ofits major Federal programs for the year ended June 30, 1998. Banks County Board ofEducation's major Federal programs are identified in the accompanying Schedule ofFindings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each ofits major Federal programs is the responsibility of Banks County Board of Education's management. Our responsibility is to express an opinion on Banks County Board of Education's compliance based on our audit. \r\nWe conducted our audit of compliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States; and OMB Circular A-133, Audits ofStates, Local Governments, \r\nand Non-Profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform \r\nthe audit to obtain reasonable assurance about. whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major Federal program occurred. An audit includes examining, on a test basis, evidence about the Banks County Board of Education's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on Banks County Board of Education's compliance with those requirements. \r\n \r\n98SA-I0 \r\n \r\n In our opinion, the Banks County Board ofEducation complied, in all material respects, with the requirements referred to above that are applicable to each ofits major Federal programs for the year ended June 30, 1998. \r\nInternal Control Over Compliance \r\nThe management of Banks County- Board of Education is responsible for establishing and maintaining effective internal control ov~rcompliance with requirements of laws, regulations, contracts and grants applicable to Federal programs. In planning and performing our audit, we considered Banks County Board ofEducation's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A-133. \r\nOur consideration ofthe internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a condition in which the design or operation ofone or more ofthe internal control components does not reduce to a relatively low level ofrisk that noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in relation to a major Federal program being audited may occur and not be detected within a timely period by employees in the nonnal course of performing their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses. \r\nlIDs report is intended for the information of management, the Federal cognizant agency, Federal awarding agencies and pass through entities. lIDs restriction is not intended to limit the distribution ofthis report which . is a matter of public record. \r\n \r\nCLV:jb 98SA-I0 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n , .. \r\nSECTIONm AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIORYEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30. 1998 \r\n \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\n6061-93-02 FS-6061-97-01 \r\n \r\n.Further Action Not Warranted Unresolved - See Corrective Action/Responses \r\n \r\nCORRECTIVE ACTIONIRESPONSES \r\n \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number: FS-6061-97-01 \r\n \r\nDue to current staffing limitations and budgetary considerations prohibiting the hiring of additional administrative staff, the Board has decided not to pursue the recording of general fixed assets on the financial statements. \r\n \r\n SECTION IV FINDINGS AND QUESTIONED COSTS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nSCHEDULE OF FINDINGS AND OUESTIONED COSTS \r\n \r\nYEAR ENDED JUNE 30. 1998 \r\n \r\n. \r\n \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n1. Type of Report Issued on the Financial Statements The auditor's opinion on the Banks County Board of Education's financial statements was qualified for a scope limitation and for various departures from generally accepted accounting principles. \r\n2. Reportable Conditions in Internal Control Disclosed by the Audit ofthe Financial Statements The audit report for the Banks Ceunty Board of Education disclosed a financial statement reportable condition related to the following control category. \r\nGeneral Fixed Assets \r\nThe reportable condition described above is considered to be a material weakness. \r\n3. Noncompliance Material to the Financial Statements The audit ofthe Banks County Board ofEducation disclosed no instances ofnoncompliance that were deemed to be material to the financial statements. \r\n4. Reportable Conditions in Internal Control Over Major Programs The audit report for the Banks County Board ofEducation did not disclose any reportable conditions in internal control over major programs. \r\n5. Type of Report Issued on Compliance for Major Programs The auditor's opinion on the Banks County Board of Education's report on compliance with requirements applicable to major programs was unqualified. \r\n6. Audit Findings Required to be Reported by Section .510Ca) ofOMB CircularA-133 The Banks County Board of Education's audit did not disclose audit findings required to be reported by section .51O(a) ofOMB Circular A-133. \r\n7. Major Programs Federal awards audited as major programs are as follows: 10.553 Food and Nutrition Program - Food Services - School Breakfast Program 10.555 Food and Nutrition Program - Food Services - National School Lunch Program \r\n8. Type \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000.00. \r\n9. Low Risk Auditee The Banks County Board of Education was audited as a low risk auditee based on a waiver granted by the U. S. Department of Education. \r\n \r\n- 1- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND OUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1998 \r\nIT FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition - Material Weakness :Repeated From Prior Year Finding Control Number: FS-6061-98-01 \r\n- \r\nThe Board did not maintain a system-wide General Fixed Assets Account Group within the fonnal accounting records as required by generally accepted accounting principles. This condition results in the general purpose financial statements ofthe Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings, and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. ill FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported. \r\n-2- \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1996-h97","title":"Audit report, Banks County Board of Education, Homer, Georgia, year ended June 30, 1997","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits.","Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Banks County, 34.35413, -83.49737"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1997-06-30"],"dcterms_description":["Title fluctuates: Audits conducted \"in accordance with generally accepted auditing standards\" are issued as: Audit report; reviews that are \"substantially less in scope than an audit in accordance with generally accepted auditing standards\" are issued as: Review or Management report. For issues for fiscal year ending June 30, 2000-June 30, 2008, issues where audits are conducted \"in accordance with auditing standards generally accepted in the United States of America\" are issued as: Report on audit of the financial statements. For issues for fiscal year ending June 30, 2009-, issues where audits are conducted \"in accordance with auditing standards generally accepted in the United States of America\" are issued as: Annual financial report ... (including independent auditor's reports)","Issues for years ended \u003cJune 30, 1994 (released in 1995)\u003e-June 30, 1995 (released in 1996) issued by the State of Georgia, Dept. of Audits, years ended June 30, 1996 (released in 1997)- by the Dept. of Audits and Accounts.","Year ended June 30, 1994 (online surrogate); title from PDF title page (journal archive page, Georgia Government Publications database, viewed September 30, 2015).","Fiscal year ended June 30, 2014 (received via FTP 8/4/15 from Georgia Dept. of Audits and Accounts) (online surrogate) (Georgia Government Publications database, viewed September 3, 2015)."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Dept. of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Banks County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Banks County--Auditing--Periodicals.","Education--Georgia--Banks County--Finance--Statistics--Periodicals.","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Banks County Board of Education, Homer, Georgia, year ended June 30, 1997"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1996-h97"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1996-h97"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":["Periodicals--fast"],"fulltext":"G-A \r\nA\"6oo .Rl EU \r\n82 \r\ni~1b-ql \r\nAUDIT REPORT BANKS COUNTY BOARD OF EDUCATION \r\nHOMER, GEORGIA YEAR ENDED JUNE 30, 1997 \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 WASHINGTON STREET \r\nATLANTA, GEORGIA 30334-8400 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\nEXHIBITS \r\n \r\nGENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nCOMBINED STATEMENTS - OVERVIEW \r\n \r\nA \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\nALL FUND TYPES AND ACCOUNT GROUP \r\n \r\n2 \r\n \r\nB \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nALL GOVERNMENTAL FUND TYPES \r\n \r\n4 \r\n \r\nC \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\n(NON-GAAP BASIS) \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n6 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n7 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING AND INDIVIDUAL FUND STATEMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nE \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n18 \r\n \r\nF \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n19 \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nG \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n20 \r\n \r\nH \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n21 \r\n \r\nI \r\n \r\nFIDUCIARY FUND TYPES \r\n \r\nSTATEMENT OF CHANGES IN ASSETS AND LIABILITIES \r\n \r\nAGENCY FUND \r\n \r\n22 \r\n \r\nSCHEDULES \r\n \r\n1 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\n23 \r\n \r\n2 SCHEDULE OF STATE REVENUE \r\n \r\n25 \r\n \r\n3 SCHEDULE OF EXPENDITURES \r\n \r\nLOTTERY PROGRAM \r\n \r\n26 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nSCHEDULES \r\n \r\nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \r\n \r\n4 \r\n \r\nOVERALL \r\n \r\n27 \r\n \r\n5 \r\n \r\nBY PROGRAM \r\n \r\n28 \r\n \r\nSECTION II \r\nCOMPLIANCE AND INTERNAL CONTROL REPORTS \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-B3 \r\n \r\nSECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\nSECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\n \r\n SECTION I FINANCIAL \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR \r\n(404) 6562174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 \r\nMay 21, 1998 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the Banks County Board ofEducation \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nLadies and Gentlemen: \r\nWe have audited the accompanying general-purpose financial statements of the Banks County Board of Education, as of and for the year ended June 30, 1997, as listed in the table of contents. These generalpurpose fmancial statements are the responsibility of the Banks County Board of Education's management. Our responsibility is to express an opinion on these general-purpose financial statements based on our audit. \r\nWe conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall fmancial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \r\nAs described in the notes to the general-purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \r\n* The general-purpose financial statements of the Board did not contain a General Fixed Assets \r\nAccount Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. \r\n \r\n97ARL-13 \r\n \r\n * School activity accounts maintained at the individual schools are not included in the general-purpose \r\nfmancial statements. To conform to generally accepted accounting principles, these accounts should be included in the general-purpose financial statements. \r\n* The Board did not recognize as expenditures, in the year ended June 30, 1997, a portion of salaries \r\nand the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1997. Also funds received, subsequent to June 30, 1997, from the Georgia Department of Education for the State's share of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1996, were improperly recorded in the year ended June 30, 1997. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \r\nThe aggregate effects on the general-purpose financial statements of these variances or omissions have not been determined, but are believed to be material. \r\nIn our opinion, except for the effects on the general-purpose financial statements of the matters referred to in the preceding paragraph, the general-purpose financial statements referred to above present fairly, in all material respects, the financial position ofthe Banks County Board of Education as of June 30, 1997, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. \r\nIn accordance with Government Auditing Standards, we have also issued our report dated May 21, 1998, on our consideration of the Banks County Board of Education's internal control over fmancial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. \r\nOur audit was performed for the purpose of forming an opinion on the general-purpose financial statements ofthe Banks County Board ofEducation taken as a whole. The accompanying combining and individual fund statements (Exhibits E through I) and the financial schedules (Schedules 1 through 5), which includes the Schedule ofExpenditures of Federal Awards as required by U. S. Office of Management and Budget Circular A-B3, Audits ojStates, Local Governments, and Non-Profit Organizations, are presented for purposes of additional analysis and are not a required part ofthe general-purpose fmancial statements. Such information has been subjected to the auditing procedures applied in the audit ofthe general-purpose fmancial statements and in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general-purpose financial statements taken as a whole. \r\n97ARL-13 \r\n \r\n A copy of this report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \r\nRespectfully submitted~ \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:gp 97ARL-13 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET \r\nALL FUND TYPES AND ACCOUNT GROUP JUNE 30,1997 \r\n \r\nASSETS \r\nCash and Cash Equivalents \r\nInvestments \r\nAccounts Receivable \r\nInventories Food Donated Commodities Purchased Food \r\nAmount Available in Debt Service Fund \r\nAmount to be Provided in Future Years For Payment of: Bond Debt Capital Lease Agreements \r\n \r\nGENERAL FUND \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\n$ \r\n \r\n898,088,63 $ \r\n \r\n283,809.58 $ 1,755,988.84 \r\n \r\n4,880.499.96 \r\n \r\n96,332,81 \r\n \r\n114,668.83 \r\n \r\n23,347.80 \r\n \r\n11,858.76 1,714.93 \r\n \r\nTotal Assets \r\n \r\n$ \r\n \r\n994,421,44 $ \r\n \r\n412,052.10 $ \r\n \r\n6,659,836.60 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nAccounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Funds Held for Others Capital Lease Agreements General Obligation Bonds Payable \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Bus Replacement Funds For Continuation of Federal Programs For Debt Service For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For Purpose of Bond Issue For State Capital Outlay Projects Unreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ \r\n \r\n137,985.91 $ \r\n \r\n22,460.09 $ \r\n \r\n12,242.59 \r\n \r\n72,216.84 \r\n \r\n5,364.28 \r\n \r\n155,844.00 \r\n \r\n37,160.40 \r\n \r\n$ \r\n \r\n137,985.91 $ \r\n \r\n100,041.21 $ _ _-=2.=.;05,..,2=-4.:.;:6;,:,:.9:.;:..9 \r\n \r\n$ \r\n \r\n$ _ _~8::::56~,4:!::3:.:::5.:.:::.5~3 \r\n \r\n$ \r\n \r\n856.435.53 $ \r\n \r\n11,858.76 1,714.93 $ \r\n298.437.20 \r\n312,010.89 $ \r\n \r\n5,861,849.61 592,740.00 \r\n0.00 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ \r\n \r\n994.421.44 $ \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. \r\n \r\n-2- \r\n \r\n412,052.10 $ 6,659,836.60 \r\n \r\n EXHIBIT \"A\" \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nFIDUCIARY FUND TYPE AGENCY FUND \r\n \r\nACCOUNT GROUP GENERAL LONG-TERM DEBT \r\n \r\nTOTALS (Memorandum Only) JUNE 30,1997 JUNE 30,1996 \r\n \r\n$ \r\n \r\n37,761.75 $ \r\n \r\n6,404.87 \r\n \r\n$ 2,982,053.67 $ \r\n \r\n606,358.04 \r\n \r\n4,880,499.96 \r\n \r\n234,349.44 \r\n \r\n61,392.41 \r\n \r\n11,858.76 1,714.93 \r\n \r\n$ \r\n \r\n37,761.75 \r\n \r\n37,761.75 \r\n \r\n5,196.23 2,115.41 \r\n \r\n7,462,238.25 48,253.62 \r\n \r\n7,462,238.25 48,253.62 \r\n \r\n97,436.21 \r\n \r\n$ ==,,;;;3~7,,;,;76~1=:,.7~5 $ ==~6,4~0~4~.87~ $ \r\n \r\n7,548,253.62 $ 15,658,730.38 $===77;,,;;2=,4=9=8=.3=0 \r\n \r\n$ \r\n \r\n172,688.59 $ \r\n \r\n14,015.76 \r\n \r\n72,216.84 \r\n \r\n49,515.50 \r\n \r\n5,364.28 \r\n \r\n16,932.85 \r\n \r\n155,844.00 \r\n \r\n37,160.40 \r\n \r\n$ \r\n \r\n6,404.87 \r\n \r\n6,404.87 \r\n \r\n6,755.97 \r\n \r\n$ \r\n \r\n48,253.62 \r\n \r\n48,253.62 \r\n \r\n97,436.21 \r\n \r\n7,500pOO.00 \r\n \r\n7,500,000.00 \r\n \r\n$ \r\n \r\n6,404.87 $ \r\n \r\n7,548,253.62 $ 7,997,932.60 $ \r\n \r\n184,656.29 \r\n \r\n$ \r\n \r\n37,761.75 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n37?61.75 \r\n \r\n$ \r\n \r\n37,761.75 $ \r\n \r\n$ \r\n \r\n$ \r\n \r\n37,761.75 \r\n \r\n11,858.76 1,714.93 \r\n5,861,849.61 592,740.00 \r\n1,154,872.73 \r\n$ 7,660,797.78 $ \r\n \r\n42,174.48 14,695.24 13,746.47 \r\n5,196.23 2,115.41 \r\n509,914.18 587,842.01 \r\n \r\n6,404.87 $ \r\n \r\n7,548,253.62 $ 15,658,730.38 $ \r\n \r\n772,498.30 \r\n \r\n-3- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1997 \r\n \r\nREVENUES \r\nState Funds Federal Funds Taxes Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Operations \r\nCapital Outlay Debt Service \r\nPrincipal Interest \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nAccrued Interest on Bonds Sold Proceeds from General Obligation Bonds \r\nPar Value Capital Leases Operating Transfers In Operating Transfers Out \r\nTotal Other Financing Sources (Uses) \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JULY 1 \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\n$ \r\n \r\n5,659,152.22 $ \r\n \r\n283.55 \r\n \r\n2,933,698.81 \r\n \r\n88.418.94 \r\n \r\n92,756.00 878,674.02 \r\n205,041.75 \r\n \r\n$ \r\n \r\n8,681,553.52 $ \r\n \r\n1,176.471.77 \r\n \r\n$ \r\n \r\n5,131,049.49 $ \r\n \r\n486,740.02 \r\n \r\n319,743.51 187,807.63 263,473.55 171,539.70 451,145.28 \r\n46,696.43 679,572.34 633,097.49 \r\n10.428.40 20,338.29 \r\n46,706.60 48,800.00 \r\n \r\n5,660.84 46,033.57 13,070.13 \r\n142.60 663,576.81 \r\n \r\n49,182.59 8,877.66 \r\n \r\n$ \r\n \r\n8,068.458.96 $ \r\n \r\n1,215,223.97 \r\n \r\n$ \r\n \r\n613,094.56 $ \r\n \r\n-38,752.20 \r\n \r\n$ \r\n \r\n$ \r\n \r\n-39,560.32 \r\n \r\n$ \r\n \r\n-39,560.32 $ \r\n \r\n39,560.32 39,560.32 \r\n \r\n$ \r\n \r\n573,534.24 $ \r\n \r\n808.12 \r\n \r\n282,901.29 \r\n \r\n304,940.72 \r\n \r\n6,662.53 -400.48 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -4- \r\n \r\n856.435.53 $ -=====31=:2.,0..:.;10=.8==9 \r\n \r\n EXHIBIT\"B\" \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTALS (Memorandum Only) \r\nYEAR ENDED JUNE 30,1997 JUNE 30, 1996 \r\n \r\n$ \r\n \r\n122,081.44 $ \r\n \r\n$ \r\n \r\n122,081.44 $ \r\n \r\n$ \r\n471.26 471.26 $ \r\n \r\n5,751,908.22 $ 878,957.57 \r\n2,933,698.81 416,013.39 \r\n9,980,577.99 $ \r\n \r\n5,328,925.89 785,661.41 \r\n3,021,616.57 250,567.01 \r\n9,386,770.88 \r\n \r\n$ \r\n \r\n51,847.25 $ \r\n \r\n1,115,644.58 \r\n$ 1,167,491.83 $ $ -1,045,410.39 $ \r\n \r\n$ 16.95 \r\n16.95 $ 454.31 $ \r\n \r\n5,617,789.51 $ \r\n325,404.35 233,841.20 263,473.55 184,609.83 451,145.28 \r\n98,560.63 679,572.34 633,097.49 \r\n10,428.40 20,480.89 663,576.81 46,706.60 1,164,444.58 \r\n49,182.59 8,877.66 \r\n10,45t191.71 $ \r\n-470,613.72 $ \r\n \r\n5,079,545.76 \r\n330,250.97 214,674.78 255,376.73 170,377.27 472,046.08 \r\n67,939.88 642,075.18 536,182.11 42,709.55 20,492.48 589,085.22 \r\n35,451.00 453,337.00 \r\n65,874.61 9l05.46 \r\n8,985,124.08 \r\n401,646.80 \r\n \r\n$ $ 7,500,000.00 \r\n$ 7,500,000.00 $ $ 6,454,589.61 $ \r\n0.00 \r\n \r\n37,307.44 $ \r\n37,307.44 $ 37,761.75 $ \r\n0.00 \r\n \r\n37,307.44 \r\n7,500,000.00 $ \r\n39,560.32 -39,560.32 \r\n7,537,307.44 $ \r\nI \r\n7,066,693.72 $ \r\n587,842.01 \r\n \r\n6,662.53 -400.48 \r\n \r\n80,619.18 440,438.55 -440,438.55 \r\n80,619.18 \r\n482,265.98 104,577.83 \r\n747.05 251.15 \r\n \r\n$ 6,454,589.61 $=====37..,.7=6=1=.7.=5 $ 7,660,797.78 $==,;;;,58;;,;7d;,8=4=2;,;;.0=1 - 5- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES \r\nBUDGET AND ACTUAL - (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS \r\nYEAR ENDED JUNE 30,1997 \r\n \r\nEXHIBIT\"C\" \r\n \r\nGENERAL FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Taxes Other Funds \r\n \r\n$ 5,272,761,00 $ 5,659,152,22 \r\n \r\n283,55 \r\n \r\n2,711,999,00 \r\n \r\n2,933,698.81 \r\n \r\n17,800.00 \r\n \r\n88,418.94 \r\n \r\nTotal Revenues \r\n \r\n$ 8,002,560.00 $ 8,681,553,52 \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Operations \r\nCapital Outlay Debt Service \r\n \r\n$ 5,155,871.00 $ 5,131,049.49 \r\n \r\n325,019,00 190,403.00 264,151.00 175,632,00 438,623,00 \r\n58,942,00 672,620,00 621,583,00 \r\n10,430.00 21,938.00 \r\n \r\n319,743,51 187,807.63 263,473.55 171,539.70 451,145,28 46,696,43 679,572,34 633,097.49 \r\n10,428.40 20,338,29 \r\n \r\n46,706.60 48,800,00 58,060,25 \r\n \r\nTotal Expenditures \r\n \r\n$ 7,935,212,00 $ 8,068,458,96 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ \r\n \r\n67,348,00 $ 613,094,56 \r\n \r\nOTHER FINANCING SOURCES (USES) \r\n \r\nOther Sources Other Uses \r\n \r\n$ \r\n \r\n11,500.00 \r\n \r\n-11,500,00 $ \r\n \r\n-39,560,32 \r\n \r\nTotal Other Financing Sources (Uses) \r\n \r\n$ \r\n \r\n0,00 $ \r\n \r\n-39,560.32 \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ \r\n \r\n67,348.00 $ 573,534,24 \r\n \r\nFUND BALANCE JULY 1. 1996 \r\n \r\n273,107.09 \r\n \r\n282,901.29 \r\n \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\n$ \r\n \r\n39,756,00 $ \r\n \r\n92,756.00 \r\n \r\n671,835,00 \r\n \r\n878,674.02 \r\n \r\n190,225.00 \r\n \r\n205,041.75 \r\n \r\n$ 901,816,00 $ 1,176,471.77 \r\n \r\n$ 288,124,00 $ 486,740.02 \r\n \r\n5,000.00 100,00 \r\n \r\n5,660,84 46,033.57 \r\n \r\n17,611,00 \r\n \r\n13,070.13 \r\n \r\n649,085.00 \r\n \r\n142,60 663,576.81 \r\n \r\n$ 959,920,00 $ 1,215,223.97 \r\n \r\n$ \r\n \r\n-58,104.00 $ \r\n \r\n-38,752,20 \r\n \r\n$ \r\n \r\n39,560,32 \r\n \r\n$ \r\n \r\n39,560.32 \r\n \r\n$ \r\n \r\n-58,104,00 $ \r\n \r\n808.12 \r\n \r\n306,452,26 \r\n \r\n304,940.72 \r\n \r\n6,662.53 -400.48 \r\n \r\nFUND BALANCE JUNE 30.1997 \r\n \r\n$ \r\n \r\n340,455.09 $ _ ....8.5.;,;6;,;\",4_3,;;;5.~53;;. \r\n \r\n$ 248,348.26 $ 3=12.,0=1.=0.=8.=9 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -6- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1997 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nREPORTING ENTITY \r\nThe Banks County Board of Education (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the Board is a primary government and consists of all the organizations that compose its legal entity. \r\nFUND ACCOUNTING \r\nThe Board uses funds and an account group to report on its fmancial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available fmancial resources. \r\nGeneral Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \r\nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances ofthese accounts are reflected in these fmancial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \r\nThe general purpose financial statements account for all State, Federal, Taxes and Other funds under control of the Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are a$ follows: \r\nGOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's educational activities. Governmental Fund Types include: \r\nGENERAL FUND - the fund used to account for all fmancial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. \r\nSPECIAL REVENUE FUND - the fund used to account for the proceeds ofspecific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are received primarily from the Georgia Department of Education and from the Federal government to accomplish specific educational objectives. \r\n-7- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30,1997 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. \r\nDEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees. \r\nFIDUCIARY FUND TYPE - the fund used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. This fund includes: \r\nAGENCY FUNDS - the funds used to account for assets held in a fiduciary capacity for other funds, governments, or individuals. \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for general obligation bonds outstanding and material capital lease obligations. \r\nBASIS OF ACCOUNTING \r\nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (Le., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. \r\nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \r\nAgency funds are purely custodial in nature and do not involve measurement of results of operations. \r\nGovernmental funds are accounted for using the modified accrual basis of accounting under which: \r\nRevenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). \"Measurable\" means the amount ofthe transaction can be determined and \"available\" means collectible within the current period or soon enough thereafter to be used to pay liabilities ofthe current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Property taxes are considered available ifthey are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end. \r\n-8- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1997 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nExpenditures are generally recognized when the related fund liability is incurred. \r\nA departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share of these contracts. During fiscal year 1997, a substantial number of personnel ofthe Board were employed for a one hundred and ninety day period beginning in late August 1996 and ending in early June 1997. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1996 and ending in August 1997. State grants to fund the State's share ofthese contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As of June 30, 1997, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1997, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1997. Also, the State's portion of the compensation paid in July and August 1997 was received and recorded as revenue in the fiscal year subsequent to June 30, 1997. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1996, were recorded in the year ended June 30, 1997. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \r\nAgency funds are accounted for using the modified accrual basis of accounting in recognizing assets and liabilities. \r\nBUDGET \r\nThe Banks County Board of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. \r\nThe budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper of general circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department of Education. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. \r\n \r\n- 9- \r\n \r\n BANKS COUNTY BOARD OF EDUCAnON \r\n \r\nEXHIDIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1997 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement of proceeds from bond issues in certificates of deposit is limited to financial institutions located within this State. \r\nINVESTMENTS \r\nCOMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following: \r\n(1) Obligations issued by the State of Georgia or by other states, \r\n(2) Obligations issued by the United States government, \r\n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \r\n(4) Obligations of any corporation of the United States government, \r\n(5) Prime banker's acceptances, \r\n(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services, \r\n(7) Repurchase agreements, and \r\n(8) Obligations of other political subdivisions of the State of Georgia. \r\nRECEIVABLES \r\nReceivables consist of grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \r\n- 10- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1997 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nPROPERTY TAXES \r\n \r\nThe Banks County Board of Commissioners fixed the property tax levy for the 1996 tax year (calendar year) on October 15, 1996 (levy date). Taxes were due on December 20, 1996. The lien date for property taxes was January 1, 1996. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1997 since their collection meets the criteria of GASB codification section P70.103. The Banks County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the Board. \r\n \r\nThe tax millage rate levied for the 1996 tax year (calendar year) for the Banks County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n.liL2Q mills \r\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which indicates that these amounts do not constitute \"available spendable resources\" even though they are a component of net current assets. \r\n \r\nGENERAL OBLIGATION BONDS \r\n \r\nThe Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond premiums and discounts, as well as issuance costs, are recognized in the financial statements during the year bonds are issued. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group. \r\n \r\nINTERFUND TRANSACTIONS \r\n \r\nThe Board has the following types of interfund transactions: \r\n \r\nReimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. \r\n \r\n- 11 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1997 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nOperating transfers are recorded for all interfund transactions other than reimbursements. \r\nMEMORANDUM ONLY - TOTAL COLUMNS \r\nTotal columns on the general purpose fmandal statements are captioned \"Memorandum Only\" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in confonnity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Certain reclassifications have been made to the comparative data to confonn to the current year classifications. \r\nNote 2: DEPOSITS AND INVESTMENTS \r\nCOLLATERALIZAnON OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value ofsecurities shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \r\nAcceptable security for deposits consists of anyone of or any combination ofthe following: \r\n(l) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \r\n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \r\n(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, \r\n(4) Bonds, bills, notes, certificates ofindebtedness or other obligations ofthe counties or municipalities ofthe State of Georgia, \r\n(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws ofthe State of Georgia, and \r\n \r\n- 12- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30,1997 \r\n \r\nNote 2: DEPOSITS AND INVESTMENTS \r\n \r\n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank; the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \r\n \r\nCATEGORIZAnON OF DEPOSITS At June 30, 1997, the bank balances were $3,547,937.20. The amounts of the total bank balances are classified into three categories of credit risk: \r\n \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging fmancial institution, or by its trust department or agent but not in the Board's name.) \r\n \r\nThe Board's deposits are classified by risk category at June 30, 1997, as follows: \r\n \r\nRisk Category \r\n \r\nBank Balance \r\n \r\n1 \r\n \r\n$ 137,761.75 \r\n \r\n2 \r\n \r\n3,410,175.45 \r\n \r\n3 \r\n \r\n0.00 \r\n \r\nTotal \r\n \r\n$ 3,547,937.20 \r\n \r\nCATEGORIZATION OF INVESTMENTS At June 30, 1997, the carrying amount of the Board's total investments was $4,880,499.96 and this entire amount consisted ofU, S. Government Securities which were insured or registered, or securities held by the Board or the Board's agent in the Board's name. The market value ofthese investments was $4,875,694.44. \r\n \r\nNote 3: NON-MONETARY TRANSACTIONS \r\n \r\nThe Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \r\n \r\n- 13 - \r\n \r\n BANKS COUNTY BOARD OF EDUCAnON \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1997 \r\n \r\nNote 4: RISK MANAGEMENT \r\n \r\nThe Board is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster and unemployment compensation. \r\n \r\nThe Board has obtained commercial insurance for risk of loss associated with torts, assets and errors or omissions. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years. \r\n \r\nThe Board has elected to self-insure for all losses related to natural disaster. The Board has not experienced any losses related to this risk in the past three years. \r\n \r\nThe Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the General Fund with expenditure and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. \r\n \r\nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \r\n \r\n1996 1997 \r\n \r\nBeginning of Year Liability \r\n \r\nClaims and Changes in Estimates \r\n \r\n$ \r\n \r\n432.00 $ \r\n \r\n2,126.00 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\nClaims Paid \r\n \r\nEnd ofYear Liability \r\n \r\n2,558.00 $ \r\n \r\n0.00 \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\nThe Board participates in the Georgia Education Workers' Compensation Trust, a public entity risk pool organized on December 1, 1991 to develop, implement and administer a program of workers' compensation self-insurance for its member organizations. The Board pays an annual premium to the Trust for its general insurance coverage. Additional insurance coverage is provided through an agreement by the Trust with the United States Fidelity and Guaranty Company to provide coverage for potential losses sustained by the Trust in excess of $250,000.00 loss per occurrence, up to $2,000,000.00. \r\n \r\nThe Board has purchased surety bonds to provide additional insurance coverage as follows: \r\n \r\nPosition Covered \r\n \r\nAmount \r\n \r\nSuperintendent Each Principal Financial Officer \r\n \r\n$ 25,000.00 $ 5,000.00 $ 5,000.00 \r\n \r\n- 14- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30,1997 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCAPITAL LEASES The Banks County Board of Education has entered into various lease agreements as lessee for school buses and office equipment. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value of the future minimum lease payments as of the date of their inception. \r\n \r\nGENERAL OBLIGATION BONDS OUTSTANDING General Obligation Bonds currently outstanding are as follows: \r\n \r\nPurpose General Government - Series 1996 \r\n \r\nInterest Rates 4.30% -7.00% \r\n \r\nAmount $ 7,500,000.00 \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1997, were as follows: \r\n \r\nBalance July 1, 1996 \r\nAdditions \r\nDeductions Payments \r\nBalance June 30, 1997 \r\n \r\nCapital Leases \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\nTotal \r\n \r\n$ 97,436.21 $ \r\n \r\n0.00 $ 97,436.21 \r\n \r\n7,500,000.00 7,500,000.00 \r\n \r\n49,182,59 \r\n \r\n49,182.59 \r\n \r\n$ 48,253.62 $ 7,500,000.00 $ 7,548,253.62 \r\n \r\nAt June 30, 1997, payments due by fiscal year which includes principal and interest for these items are as follows: \r\n \r\nFiscal Year Ended June 30 \r\n1998 1999 2000 2001 2002 2003 - 2007 2008 - 2012 2013 - 2017 \r\nTotal Principal and Interest \r\nDeduct: Imputed Interest \r\nNet Present Value of Future Minimum Lease Payments \r\n \r\nCapital Leases \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\nTotal Debt \r\n \r\n$ 18,132.37 $ 703,775.00 $ 721,907.37 \r\n \r\n18,132.37 \r\n \r\n615,320.00 \r\n \r\n633,452.37 \r\n \r\n18,132.37 \r\n \r\n608,870.00 \r\n \r\n627,002.37 \r\n \r\n606,720.00 \r\n \r\n606,720.00 \r\n \r\n599,820.00 \r\n \r\n599,820.00 \r\n \r\n3,017,270.00 3,017,270.00 \r\n \r\n3,067,817.50 3,067,817.50 \r\n \r\n3,130,937,50 3,130,937.50 \r\n \r\n$ 54,397.11 $12.350,530.00 $12.404,927.11 \r\n \r\n6,143.49 \r\n \r\n$ 48,253.62 \r\n \r\n- 15 - \r\n \r\n BANKS COUNTY BOARD OF EDUCAnON \r\n \r\nEXHIBIT ltD\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1997 \r\n \r\nNote 6: ON-BEHALF PAYMENTS \r\n \r\nThe Board has recognized revenues and expenditures in the amount of$147,952.96 for health insurance and retirement contributions paid on the Board's behalf by the following State Agencies. \r\n \r\nGeorgia Department of Education Paid to the State Merit System of Personnel Administration For Health Insurance ofNon-Certified Personnel In the amount of$I13,093.68 \r\n \r\nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $9,941.28 \r\n \r\nOffice of Treasury and Fiscal Services Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost In the amount of$24,918.00 \r\n \r\nNote 7: SIGNIFICANT COMMITMENTS \r\n \r\nThe following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1997, together with funding available: \r\n \r\nProject 98/97S-606-055/New High School \r\n \r\nUnearned Executed Contracts \r\n \r\nFunding Available From State \r\n \r\n$ 832.575.86 $ 3.836.160.00 \r\n \r\nThe amounts described in this note are not reflected in the general purpose financial statements. \r\n \r\nNote 8: CONTINGENT LIABILITIES \r\n \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \r\n \r\nThe Board is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition of these proceedings is not presently determinable, but is not believed to be material to the general purpose financial statements. \r\n \r\n- 16- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1997 \r\n \r\nNote 9: RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\n \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. \r\n \r\nTRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 11.81% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: \r\n \r\nFiscal Year \r\n \r\nPercentage Contributed \r\n \r\nRequired Contribution \r\n \r\n1997 1996 1995 \r\n \r\n100% 100% 100% \r\n \r\n$ 577,741.29 $ 525,439.07 $ 471,967.34 \r\n \r\n- 17 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30,1997 \r\n \r\nEXHIBIT\"E\" \r\n \r\nASSETS Cash and Cash Equivalents Accounts Receivable Inventories \r\nFood Donated Commodities Purchased Food \r\nTotal Assets \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTIERY PROGRAM \r\n \r\nFEDERAL PROGRAMS \r\n \r\nTOTALS JUNE 30,1997 JUNE 30,1996 \r\n \r\n$ 341,441,14 \r\n \r\n$ 341,441,14 $ 337,875.66 \r\n \r\n2,372.95 $ 1,700,00 $ 110,595,88 \r\n \r\n114,668,83 \r\n \r\n50,088.50 \r\n \r\n11,858.76 1,714.93 \r\n \r\n11,858.76 1,714.93 \r\n \r\n5,196.23 2,115.41 \r\n \r\n$ 357,387,78 $ 1,700,00 $ 110,595,88 $ 469,683.66 $ 395,275,80 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ $ 10,363.55 \r\n35,013.34 \r\n \r\n1,700.00 $ \r\n \r\n55,931.56 $ \r\n12,096.54 \r\n37,203.50 5,364.28 \r\n \r\n$ 45,376.89 $ 1,700,00 $ 110,595.88 $ \r\n \r\n57,631.56 $ \r\n22,460.09 \r\n72,216.84 5,364.28 \r\n157,672.77 $ \r\n \r\n9,870.97 \r\n14,015.76 \r\n49,515.50 \r\n16,932.85 \r\n90,335.08 \r\n \r\n$ 11,858.76 1,714.93 \r\n298,437.20 $ \r\n$ 312,010,89 $ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n$ 14,695.24 \r\n \r\n$ \r\n0.00 \r\n0.00 $ \r\n \r\n11,858.76 1,714.93 \r\n298,437.20 \r\n312,010.89 $ \r\n \r\n5,196.23 2,115.41 \r\n282,933.84 \r\n304,940.72 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 357,387.78 $ 1,700.00 $ 110,595.88 $ 469,683.66 $ 395,275.80 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-18- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nSPECIAL REVENUE FUND YEAR ENDED JUNE 30. 1997 \r\n \r\nEXHIBIT \"F\" \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAM \r\n \r\nFEDERAL PROGRAMS \r\n \r\nTOTALS YEAR ENDED JUNE 30,1997 JUNE 30. 1996 \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Other Funds \r\n \r\n$ 39,756.00 $ 53,000.00 \r\n \r\n$ \r\n \r\n434,282.42 \r\n \r\n$ 444,391.60 \r\n \r\n205,041.75 \r\n \r\n92,756.00 $ 878,674.02 205,041.75 \r\n \r\n155,579.97 785,352.46 191,544.26 \r\n \r\nTotal Revenues \r\n \r\n$ 679,080.17 $ 53,000.00 $ 444,391.60 $ 1,176,471.77 $ 1,132,476.69 \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration Central Support Services Other Support Services Food Services Operation \r\n \r\n$ 55,225.42 $ 431,514.60 $ \r\n \r\n5,660.84 46,033.57 \r\n \r\n13,070.13 \r\n \r\n$ 663,576.81 \r\n \r\n142.60 \r\n \r\n486,740.02 $ \r\n5,660.84 46,033.57 \r\n13,070.13 \r\n142.60 663,576.81 \r\n \r\n379,565.11 \r\n30,738.31 34,005.72 4,964.82 15,255.09 32,710.35 \r\n663.52 588,835.22 \r\n \r\nTotal Expenditures \r\n \r\n$ 663,576.81 $ 55,225.42 $ 496,421.74 $ 1,215,223.97 $ 1,086,738.14 \r\n \r\nExcess of Revenues over (under) Expenditures $ 15,503.36 $ -2,225.42 $ -52,030.14 $ -38,752.20 $ \r\n \r\n45,738.55 \r\n \r\nOTHER FINANCING SOURCES \r\n \r\nOperating Transfers In \r\n \r\n2,225.42 \r\n \r\n37,334.90 \r\n \r\n39,560.32 \r\n \r\n351.44 \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures \r\n \r\n$ 15,503.36 $ \r\n \r\n0.00 $ -14,695.24 $ \r\n \r\n808.12 $ 46,089.99 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n290,245.48 \r\n \r\n0.00 \r\n \r\n14,695.24 \r\n \r\n304,940.72 \r\n \r\n257,852.53 \r\n \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\n6,662.53 -400.48 \r\n \r\n6,662.53 -400.48 \r\n \r\n747.05 251.15 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 312,010.89 $==,,;;;0;;,;;:.0;,;;;,0 $==~O~.O,;;.O $ 312,010.89 $ 304,940.72 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 19- \r\n \r\n ASSETS Cash and Cash Equivalents Investments Accounts Receivable \r\nTotal Assets \r\n \r\nBANKS COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30, 1997 \r\n \r\nEXHIBIT\"G\" \r\n \r\nBOND PROCEEDS \r\n \r\nGEORGIA STATE FINANCING AND \r\nINVESTMENT COMMISSION \r\n \r\nTOTALS JUNE 30, 1997 JUNE 30, 1996 \r\n \r\n$ 1,163,248,84 $ \r\n \r\n592,740,00 $ 1,755,988.84 $ \r\n \r\n0.00 \r\n \r\n4,880,499,96 \r\n \r\n4,880,499.96 \r\n \r\n23,347.80 \r\n \r\n$ 6,067,096.60 $ \r\n \r\n592,740.00 $ 6,659,836,60 $=====0,=00= \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 6,067,096.60 $ \r\n \r\n592,740,00 $ 6,659,836.60 $======0=,0=0 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 20- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nCAPITAL PROJECTS FUND YEAR ENDED JUNE 30,1997 \r\n \r\nEXHIBIT \"H\" \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 5,861,849.61 $ \r\n \r\n592?40.00 $ 6A54,589,61 $ ......_ _-=0,;,;;,0=0 \r\n \r\nSee notes to the general purpose financial statements, \r\n \r\n- 21 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION STATEMENT OF CHANGES IN ASSETS AND LIABILITIES \r\nFIDUCIARY FUND TYPE - AGENCY FUND YEAR ENDED JUNE 30,1997 \r\n \r\nEXHIBIT \"I\" \r\n \r\nPUBLIC LIBRARY FUND \r\nASSETS Cash and Cash Equivalents \r\n \r\nBALANCE JULY 1,1996 \r\n \r\nADDITIONS \r\n \r\nDEDUCTIONS \r\n \r\nBALANCE JUNE 30,1997 \r\n \r\n$ \r\n \r\n6,755.97 $ \r\n \r\n36,316.64 $ \r\n \r\n36,667.74 $ \r\n \r\n6,404.87 \r\n \r\nLIABILITIES Funds Held for Others \r\n \r\n$ \r\n \r\n6,755.97 $ \r\n \r\n36,316.64 $ \r\n \r\n36,667.74 $ ======6=,4=0=4,.8..7= \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 22- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 30, 1997 \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\n \r\nCFDA NUMBER \r\n \r\nPASSTHROUGH \r\nENTITY 10 \r\nNUMBER \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\nAgriculture, U, S, Department of \r\n \r\nPass-Through From Office of Treasury and Fiscal Services \r\n \r\nNational Forest Reserve Funds \r\n \r\n10.665 \r\n \r\nPass-Through From Georgia Department of Education \r\n \r\nFood and Nutrition Program \r\n \r\nFood Services \r\n \r\nSchool Breakfast Program \r\n \r\n1997 Grant \r\n \r\n* 10,553 \r\n \r\nNational School Lunch Program \r\n \r\n1997 Grant \r\n \r\n* 10,555 \r\n \r\nFood Distribution Program (1) \r\n \r\n10.550 \r\n \r\nN/A $ \r\n \r\n283,55 \r\n \r\n(4) \r\n \r\nN/A \r\n \r\n120,685.50 \r\n \r\n(2) \r\n \r\nN/A \r\n \r\n272,271.63 $ 622,251,52 (3) \r\n \r\nN/A \r\n \r\n41,325.29 \r\n \r\n41,325.29 \r\n \r\nTotal U. S. Department of Agriculture \r\n \r\n$ 434,565.97 $ 663,576.81 \r\n \r\nEducation, U. S. Department of Pass-Through From Georgia Department of Education Elementary and Secondary Education Act Title I Grants to Local Educational Agencies 1997 Grant Title II Eisenhower Professional Development 1997 Grant Title VI Innovative Education Program Strategies 1997 Grant Goals 2000 State and Local Education Systemic Improvement Grants 1996 Grant Individuals with Disabilities Education Act Part B - Special Education Flow Through 1997 Grant Preschool 1997 Grant Vocational Education - Basic Grants to States High School Program Basic Grant 1997 Grant Tech-Prep Education 1997 Grant \r\nTotal U. S. Department of Education \r\n \r\n84.010 84.281 84.298 \r\n \r\nN/A $ 228,095.72 $ 228,095.72 \r\n \r\nN/A \r\n \r\n5,615.64 \r\n \r\n5,615,64 \r\n \r\nN/A \r\n \r\n8,175.00 \r\n \r\n8,175.00 \r\n \r\n84.276 \r\n \r\nN/A \r\n \r\n14,695.24 \r\n \r\n84.027 \r\n \r\nN/A \r\n \r\n84.173 \r\n \r\nN/A \r\n \r\n78,296.64 11,417.72 \r\n \r\n78,296.64 11,417.72 \r\n \r\n84.048 84.243 \r\n \r\nN/A \r\n \r\n57,966.33 \r\n \r\n57,966.33 \r\n \r\nN/A \r\n \r\n54,824.55 \r\n \r\n92,159.45 (3) \r\n \r\n$ 444,391.60 $ 496,421.74 \r\n \r\nTotal Federal Financial Assistance \r\n= N/A Not Available \r\n \r\n- 23- \r\n \r\n$ 878,957.57 $ 1,159,998.55 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 30.1997 \r\n \r\nSCHEDULE \"1\" \r\n \r\nNotes to the Schedule of Expenditures of Federal Awards \r\n(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. \r\n(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1997 National School Lunch Program. \r\n(3) Expenditures for this program include State, and/or Other Funds. Expenditures are not maintained by fund source. \r\n(4) Funds earned on this program do not require reporting of expenditures. \r\nMajor Programs are identified by an asterisk (*) in front of the CFDA number. \r\nThe Board did not provide Federal Assistance to any Subrecipient. \r\nThe accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the Banks County Board of Education and is presented on the modified basis of accounting which is the same basis of accounting used in the presentation of the general purpose financial statements. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-24 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30,1997 \r\n \r\nSCHEDULE \"2\" \r\n \r\nAGENCY/FUNDING \r\nGRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Sparsity Grant Middle School Incentive Program Special Instructional Assistance In-School Suspension Mid-term Adjustment Counselors Grades 4 and 5 Technology Training Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs At-Risk Summer School Program Health Insurance Mentoring Program Preschool Handicapped Program Remedial Summer School Program Teachers' Retirement Lottery Program Instructional Technology \r\nOffice of Treasury and Fiscal Services Public School Employees Retirement \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 3,543,844,00 600,270.00 69,379.00 147,491.00 47,800,00 \r\n1,041,812.00 \r\n314,268.00 103,684.00 21,094.00 131,919.00 58,309.00 75,993.00 225,705.00 10,445.00 27,157.00 -1,146,018.00 50,794.00 \r\n$ 144,630,88 \r\n11,905.83 113,093.68 \r\n4,437.30 23,160.00 \r\n3,119.25 9,941.28 \r\n24,918.00 \r\n \r\n$ \r\n39,756.00 53,000.00 \r\n \r\n3,543,844.00 600,270.00 69,379.00 147,491.00 47,800.00 \r\n1,041,812.00 \r\n314,268.00 103,684.00 21,094.00 131,919.00 58,309.00 75,993.00 225,705.00 \r\n10,445.00 27,157.00 -1,146,018.00 50,794,00 39,756.00 144,630.88 \r\n11,905.83 113,093,68 \r\n4,437.30 23,160.00 \r\n3,119,25 9,941.28 \r\n53,000.00 \r\n \r\n24,918,00 \r\n \r\n$ 5,659,152.22 $ \r\n \r\n92,756.00 $ 5,751,908.22 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 25- \r\n \r\n EXPENDITURES \r\nCurrent Instruction \r\n \r\nBANKS COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES LOTTERY PROGRAM YEAR ENDED JUNE 30, 1997 \r\n \r\nSCHEDULE \"3\" \r\nINSTRUCTIONAL TECHNOLOGY \r\n$ ===5=5==,2=2:=5=:.42= \r\n \r\nSee notes to the general purpose financial statements. \r\n-26 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30. 1997 \r\n \r\nSCHEDULE \"4\" \r\n \r\nMinimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis \r\nSalaries Operations \r\nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \r\nExpenditures per Audit \r\nAmount of Underexpenditure for Total Allotment \r\n \r\nFOURTEEN WEIGHTED AND MEDIA CENTER \r\nPROGRAMS \r\n \r\n100% TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS \r\n \r\n$ \r\n \r\n4,542,091.00 $ _ _--:..:13:.::97~.,...:.44..:..:.~00=_ \r\n \r\n$ 4,407,143.40 373,948.24 $ \r\n$ 4,781,091.64 \r\n \r\n3.; . .4.;.,; 6\"\"-',1. .; . 0-'-1.. .; . 88; . . \r\n \r\n-108,581.94 $ 4,672,509.70 \r\n \r\n$ \r\n \r\n0.00 $ ======0==,0==0 \r\n \r\nSee notes to the general purpose financial statements. - 27 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \r\nGENERAL FUND - qUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1997 \r\n \r\nGENERAL AND CAREER EDUCATION PROGRAMS Kindergarten (*) Grades 1 - 3 (*) Sub-Total - K-3 Grades 4 - 5 (*) Grades 6 ~ 8 (*) Grades 9 - 12 (*) High School Laboratories (*) Vocational Education Laboratories (*) Total General and Career Education Programs \r\nSPECIAL EDUCATION PROGRAMS Regular Programs Category I (*) Category II (*) Category III (*) Category N (*) Sub-Total - Regular Category VI (Gifted) (*) Total Special Education Programs \r\nREMEDIAL EDUCATION PROGRAM (*) Total Fourteen Weighted Programs \r\nMEDIA CENTER PROGRAMS Salaries Operations Total Media Center Programs \r\nTotal Fourteen Weighted and Media Center Programs \r\n \r\nALLOTMENTS FROM DEPARTMENT OF EDUCATION \r\n \r\nREQUIRED \r\n \r\nORIGINAL ~ \r\n \r\nORIGINAL \r\n \r\nMID-TERM \r\n \r\n$ \r\n \r\n411.449.00 \r\n \r\n$ \r\n \r\n370.304.10 $ \r\n \r\n987,037.00 \r\n \r\n888.333.30 \r\n \r\n$ 1.398.486.00 90 $ 1,258,637.40 $ \r\n \r\n434.359.00 90 \r\n \r\n390,923.10 \r\n \r\n789,300.00 90 \r\n \r\n710.370.00 \r\n \r\n369,116.00 90 \r\n \r\n332.204.40 \r\n \r\n260.776.00 90 \r\n \r\n234.698.40 \r\n \r\n291,807.00 90 \r\n \r\n262,626.30 \r\n \r\n$ 3,543,844.00 \r\n \r\n$ 3,189,459.60 $ \r\n \r\n40,000.00 40,000.00 80,000.00 61,107.00 \r\n181,107.00 \r\n \r\n$ \r\n \r\n571.089.00 \r\n \r\n$ \r\n \r\n513.980.10 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n571.089.00 90 $ \r\n \r\n513.980.10 $ \r\n \r\n29,181.00 90 \r\n \r\n26,262.90 \r\n \r\n$ \r\n \r\n600.270.00 \r\n \r\n$ \r\n \r\n540.243.00 $ \r\n \r\n$ \r\n \r\n69.379.00 90 $ \r\n \r\n62,441.10 $ \r\n \r\n$ 4,213,493.00 \r\n \r\n$ 3.792.143.70 $ \r\n \r\n0.00 \r\n0.00 0.00 181.107.00 \r\n \r\n$ \r\n \r\n118.220.00 90 $ \r\n \r\n106.398.00 $ \r\n \r\n0.00 \r\n \r\n29.271.00 90 \r\n \r\n26,343.90 \r\n \r\n$ \r\n \r\n147.491.00 \r\n \r\n$ \r\n \r\n132.741.90 $ \r\n \r\n0.00 \r\n \r\n$ 4,360.984.00 \r\n \r\n$ 3.924,885.60 $ \r\n \r\n181,107.00 \r\n \r\nSTAFF DEVELOPMENT PROGRAMS Cost of Instruetion Professional Development \r\nTotal Staff Development Programs (*) Identifies Fourteen Weighted Programs. See notes to the general purpose financial statements. \r\n \r\n$ \r\n \r\n13,303.00 \r\n \r\n$ \r\n \r\n13.303.00 $ \r\n \r\n0.00 \r\n \r\n34,497.00 \r\n \r\n34,497.00 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n47,800.00 100 $ \r\n \r\n47,800.00 $=====0=.0=0 \r\n \r\n- 28 - \r\n \r\n SCHEDULE \"5\" \r\n \r\nTOTAL REQUIRED \r\n \r\nACTUAL EXPENDITURES \r\n \r\nSALARIES \r\n \r\nOPERATIONS \r\n \r\nTOTAL \r\n \r\nAMOUNT OF UNDEREXPENDITURE \r\nFOR REQUIRED ALLOTMENT \r\n \r\n$ \r\n \r\n410,304.10 $ \r\n \r\n422,808.00 $ \r\n \r\n10,072.98 $ \r\n \r\n432,880.98 \r\n \r\n888,333.30 \r\n \r\n876,428.48 \r\n \r\n41,458.05 \r\n \r\n917,886.53 \r\n \r\n$ 1,298,637.40 $ 1,299,236.48 $ \r\n \r\n51,531.03 $ 1,350,767.51 $ \r\n \r\n0.00 \r\n \r\n470,923.10 \r\n \r\n510,959.78 \r\n \r\n21,402.18 \r\n \r\n532,361.96 \r\n \r\n0.00 \r\n \r\n710,370.00 \r\n \r\n794,930.59 \r\n \r\n49,463.00 \r\n \r\n844,393.59 \r\n \r\n0.00 \r\n \r\n393,311.40 \r\n \r\n516,677.25 \r\n \r\n35,130.32 \r\n \r\n551,807.57 \r\n \r\n0.00 \r\n \r\n234,698.40 \r\n \r\n206,218.44 \r\n \r\n29,736.45 \r\n \r\n235,954.89 \r\n \r\n0.00 \r\n \r\n262,626.30 \r\n \r\n286,064.90 \r\n \r\n32,780.76 \r\n \r\n318,845.66 \r\n \r\n0.00 \r\n \r\n$ 3,370,566.60 $ 3,614,087.44 $ \r\n \r\n220,043.74 $ 3,834,131.18 \r\n \r\n$ \r\n \r\n513,980.10 \r\n \r\n$ \r\n \r\n6,284.32 173,503.50 $ 250,256.42 \r\n12,343.24 \r\n \r\n$ 13,593.85 107,617.21 2,605.99 \r\n \r\n6,284.32 187,097.35 357,873.63 \r\n14,949.23 \r\n \r\n$ \r\n \r\n513,980.10 $ \r\n \r\n442,387.48 $ \r\n \r\n123,817.05 $ \r\n \r\n566,204.53 \r\n \r\n0.00 \r\n \r\n26,262.90 \r\n \r\n44,955.04 \r\n \r\n1,469.54 \r\n \r\n46,424.58 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n540,243.00 $ \r\n \r\n487,342.52 $ \r\n \r\n125,286.59 $ \r\n \r\n612,629.11 \r\n \r\n$ \r\n \r\n62,441.10 $ \r\n \r\n77,486.86 $ \r\n \r\n771.55 $ \r\n \r\n78,258.41 \r\n \r\n0.00 \r\n \r\n$ 3,973,250.70 $ 4,178,916.82 $ \r\n \r\n346,101.88 $ 4,525,018.70 \r\n \r\n$ \r\n \r\n106,398.00 $ \r\n \r\n228,226.58 \r\n \r\n$ \r\n \r\n228,226.58 \r\n \r\n0.00 \r\n \r\n26,343.90 \r\n \r\n$ \r\n \r\n27,846.36 \r\n \r\n27,846.36 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n132,741.90 $ \r\n \r\n228,226.58 $ \r\n \r\n27,846.36 $ \r\n \r\n256,072.94 \r\n \r\n$ 4,105,992.60 $ 4,407,143.40 $ \r\n \r\n373,948.24 $ 4,781,091.64 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n13,303.00 \r\n \r\n34,497.00 \r\n \r\n$ ===4.7..,.=80..0...0...0.. \r\n \r\n$ \r\n \r\n24,723.96 $ \r\n \r\n24,723.96 \r\n \r\n24,386.85 \r\n \r\n24,386.85 \r\n \r\n$ \r\n \r\n49,110.81 $ \r\n \r\n49,110.81 $========0..0...0.. \r\n \r\n- 29 - \r\n \r\n SECTIONll COMPLIANCE AND INTERNAL CONTROL REPORTS \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 \r\nMay 21, 1998 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board of Education \r\nand Superintendent and Members of the Banks County Board of Education \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the financial statements of Banks County Board of Education as of and for the year ended June 30, 1997, and have issued our report thereon dated May 21, 1998. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the generalpurpose financial statements. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to fmancial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. \r\nCompliance \r\nAs part of obtaining reasonable assurance about whether Banks County Board of Education's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination of fmancial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. \r\nInternal Control Over Financial Reporting \r\nIn planning and performing our audit, we considered Banks County Board ofEducation's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. However, we noted a certain matter involving the internal control over financial reporting and its operation \r\n97YB-40 \r\n \r\n that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control over financial reporting that, in our judgement, could adversely affect Banks County Board of Education's ability to record, process, summarize and report financial data consistent with assertions of management in the financial statements. The reportable condition is described in the accompanying Schedule of Findings and Questioned Costs as item FS-6061-97-01. \r\nA material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control that might be reportable conditions and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, the reportable condition described above is considered to be a material weakness. \r\nThis report is intended for the information of management, the Federal cognizant agency, Federal awarding agencies and pass through entities. This restriction is not intended to limit the distribution ofthis report which is a matter of public record. \r\nRe;t~~ \r\n \r\nCLV:gp 97YB-40 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 \r\nMay 21,1998 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the Banks County Board of Education \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULARA-133 \r\nLadies and Gentlemen: \r\nCompliance \r\nWe have audited the compliance of Banks County Board of Education with the types of compliance requirements described in the Us. Office ofManagement and Budget (OMB) Circular A-i33 Compliance Supplement that are applicable to each of its major Federal programs for the year ended June 30, 1997. Banks County Board ofEducation's major Federal programs are identified in the accompanying Schedule ofFindings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility of Banks County Board of Education's management. Our responsibility is to express an opinion on Banks County Board of Education's compliance based on our audit. \r\nWe conducted our audit of compliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits ofStates, Local Governments, and Non-Profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major Federal program occurred. An audit includes examining, on a test basis, evidence about the Banks County Board of Education's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on Banks County Board of Education's compliance with those requirements. \r\n \r\n97SA-1O \r\n \r\n In our opinion, the Banks County Board ofEducation complied, in all material respects, with the requirements referred to above that are applicable to each of its major Federal programs for the year ended June 30, 1997. \r\nInternal Control Over Compliance \r\nThe management of Banks County Board of Education is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts and grants applicable to Federal programs. In planning and performing our audit, we considered Banks County Board of Education's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A-133. \r\nOur consideration of the internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a condition in which the design or operation of one or more ofthe internal control components does not reduce to a relatively low level of risk that noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in relation to a major Federal program being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses. \r\nThis report is intended for the information of management, the Federal cognizant agency, Federal awarding agencies and pass through entities. This restriction is not intended to limit the distribution ofthis report which is a matter of public record. \r\nRespectfully submitted, \r\ntf'~ \r\nClaude L. Vickers State Auditor \r\nCLV:gp 97SA-IO \r\n \r\n SECTIONID AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 1997 \r\n \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\n6061-93-02 6061-94-01 6061-94-02 \r\n \r\nUnresolved - See Corrective Action/Response Previously Reported Corrective Action Implemented Previously Reported Corrective Action Implemented \r\n \r\nCORRECTIVE ACTIONIRESPONSES \r\n \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number 6061-93-02 \r\n \r\nDue to current staffing limitations and budgetary considerations prohibiting the hiring of additional administrative staffthe Board has decided not to pursue the recording of general fixed assets on the financial statements. \r\n \r\n SECTION IV FINDINGS AND QUESTIONED COSTS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1997 \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n1. Type of Report Issued on the Financial Statements The auditor's opinion on the Banks County Board of Education's financial statements was qualified for various departures from generally accepted accounting principles. \r\n2. Reportable Conditions in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the Banks County Board of Education disclosed a financial statement reportable condition related to the following control category. \r\nGeneral Fixed Assets \r\nThe reportable condition described above is considered to be a material weakness. \r\n3. Noncompliance Material to the Financial Statements The audit ofthe Banks County Board ofEducation disclosed no instances ofnoncompliance that were deemed to be material to the financial statements. \r\n4. Reportable Conditions in Internal Control Over Major Programs The audit report for the Banks County Board of Education did not disclose any reportable conditions in internal control over major programs. \r\n5. Type of Report Issued on Compliance for Major Programs The auditor's opinion on the Banks County Board of Education's report on compliance with requirements applicable to major programs was unqualified. \r\n6. Audit Findings Required to be Reported by Section .51OCa) ofOMB Circular A-133 The Banks County Board of Education's audit did not disclose audit fmdings required to be reported by section .51O(a) ofOMB Circular A-133. \r\n7. Major Programs Federal awards audited as major programs are as follows: 10.553 Food and Nutrition Program - Food Services - School Breakfast Program 10.555 Food and Nutrition Program - Food Services - National School Lunch Program \r\n8. Type \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000.00. \r\n9. Low Risk Auditee The Banks County Board of Education was audited as a low risk auditee based on a waiver granted by the U. S. Department of Education. \r\n- 1- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\nYEAR ENDED JUNE 30. 1997 \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition - Material Weakness Repeated From Prior Year Finding Control Number: FS-6061-97-01 The Banks County Board of Education did not maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. The subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. III FEDERAL AWARD FINDINGS AND QUESTIONED COSTS No matters were reported. \r\n-2- \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1995-h96","title":"Audit report, Banks County Board of Education, Homer, Georgia, year ended June 30, 1996","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits.","Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Banks County, 34.35413, -83.49737"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1996-06-30"],"dcterms_description":["Title fluctuates: Audits conducted \"in accordance with generally accepted auditing standards\" are issued as: Audit report; reviews that are \"substantially less in scope than an audit in accordance with generally accepted auditing standards\" are issued as: Review or Management report. For issues for fiscal year ending June 30, 2000-June 30, 2008, issues where audits are conducted \"in accordance with auditing standards generally accepted in the United States of America\" are issued as: Report on audit of the financial statements. For issues for fiscal year ending June 30, 2009-, issues where audits are conducted \"in accordance with auditing standards generally accepted in the United States of America\" are issued as: Annual financial report ... (including independent auditor's reports)","Issues for years ended \u003cJune 30, 1994 (released in 1995)\u003e-June 30, 1995 (released in 1996) issued by the State of Georgia, Dept. of Audits, years ended June 30, 1996 (released in 1997)- by the Dept. of Audits and Accounts.","Year ended June 30, 1994 (online surrogate); title from PDF title page (journal archive page, Georgia Government Publications database, viewed September 30, 2015).","Fiscal year ended June 30, 2014 (received via FTP 8/4/15 from Georgia Dept. of Audits and Accounts) (online surrogate) (Georgia Government Publications database, viewed September 3, 2015)."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Dept. of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Banks County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Banks County--Auditing--Periodicals.","Education--Georgia--Banks County--Finance--Statistics--Periodicals.","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Banks County Board of Education, Homer, Georgia, year ended June 30, 1996"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1995-h96"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1995-h96"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":["Periodicals--fast"],"fulltext":"GA ASoo \r\n.RI t:.;,.6 B~ \r\n1995-qb \r\n \r\nAUDIT REPORT BANKSCOUNTYBOARDOFEDUCATION \r\nHOMER, GEORGIA YEAR ENDED JUNE 30, 1996 \r\n \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 WASHINGTON STREET \r\nATLANTA, GEORGIA 30334-8400 \r\n \r\n BANKSCOUNTYBOARDOFEDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\nEXHIBITS \r\n \r\nGENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nCOMBINED STATEMENTS - OVERVIEW \r\n \r\nA \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\nALL FUND TYPES AND ACCOUNT GROUP \r\n \r\n2 \r\n \r\nB \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nALL GOVERNMENTAL FUND TYPES \r\n \r\n4 \r\n \r\nC \r\n \r\nSTATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\n(NON-GAAP BASIS) \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n5 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n7 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING AND INDIVIDUAL FUND STATEMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nE \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n20 \r\n \r\nF \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n22 \r\n \r\nG \r\n \r\nFIDUCIARY FUND TYPE \r\n \r\nSTATEMENT OF CHANGES IN ASSETS AND LIABILITIES \r\n \r\nAGENCY FUND \r\n \r\n24 \r\n \r\nSCHEDULES \r\n \r\n1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\n25 \r\n \r\n2 CASH AND CASH EQUIVALENTS \r\n \r\n26 \r\n \r\n3 ACCOUNTS RECEIVABLE \r\n \r\n27 \r\n \r\nSCHEDULE OF REVENUE \r\n \r\n4 \r\n \r\nSTATE \r\n \r\n28 \r\n \r\n5 \r\n \r\nTAXES AND OTHER \r\n \r\n29 \r\n \r\nSCHEDULE OF EXPENDITURES BY OBJECT \r\n \r\n6 \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\n30 \r\n \r\n7 \r\n \r\nLOTTERY PROGRAMS \r\n \r\n31 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nSCHEDULES \r\n \r\nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \r\n \r\n8 \r\n \r\nOVERALL \r\n \r\n33 \r\n \r\n9 \r\n \r\nBY PROGRAM \r\n \r\n34 \r\n \r\n10 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \r\n \r\n36 \r\n \r\nSECTION II \r\nCOMPLIANCE \r\nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \r\n \r\nSECTION ill \r\nINTERNAL CONTROL \r\nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nSINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\n \r\n BANKSCOUNTYBOARDOFEDUCATION - TABLE OF CONTENTS - \r\nSECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\n \r\n SECTION I FINANCIAL \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nJune 6, 1997 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the Banks County Board of Education \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements (Exhibits A through D) of the Banks County Board of Education, as of and for the year ended June 30, 1996, as listed in the table of contents. These financial statements are the responsibility of the Board's management. Our responsibility is to express an opinion on these financial statements based on our audit. \r\nWe conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \r\nAs described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \r\n* The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. \r\n \r\n96ARL-13 \r\n \r\n * School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. \r\n* The Board did not recognize as expenditures, in the year ended June 30, 1996, a portion of salaries and the corresponding employer's cost ofrelated benefits earned for contractual services completed prior to June 30, 1996. Also funds received, subsequent to June 30, 1996, from the Georgia Department ofEducation for the State's share ofthese unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1995, were improperly recorded in the year ended June 30, 1996. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \r\nThe aggregate effects on the general purpose financial statements ofthese variances or omissions have not been determined, but are believed to be material. \r\nIn our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Banks County Board of Education as of June 30, 1996, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. In accordance with Government Auditing Standards, we have also issued a report dated June 6, 1997, on our consideration of the Board's internal control structure and a report dated June 6, 1997, on its compliance with laws and regulations. \r\nOur audit was conducted for the purpose of forming an opinion on the general purpose financial statements of the Banks County Board of Education taken as a whole. The combining and individual fund statements (Exhibits E through G) and the financial schedules (Schedules 1 through 10 which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the Banks County Board ofEducation. Such information has been subjected to the auditing procedures applied in the audit ofthe general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. \r\nA copy of this report has been filed as a permanent record in the office of the State Auditor and made. available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \r\nRe~ submitted,~ \r\n \r\nCLV:dt 96ARL-13 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n BANKSCOUNTYBOARDOFEDUCATION \r\n-I- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET \r\nALL FUND TYPES AND ACCOUNT GROUP JUNE 30. 1996 \r\n \r\nASSETS Cash and Cash Equivalents Accounts Receivable Inventories \r\nFood Donated Commodities Purchased Food \r\nAmount to be Provided in Future Years For Payment of Capital Lease Agreements \r\nTotal Assets \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\n$ \r\n \r\n271,597.38 $ \r\n \r\n328,004.69 $ \r\n \r\n0.00 \r\n \r\n11,303.91 \r\n \r\n50,088.50 \r\n \r\n5,196.23 2,115.41 \r\n \r\n$ \r\n \r\n282,901.29 $ \r\n \r\n385,404.83 $ \r\n \r\n0.00 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Funds Held for Others Capital Lease Agreements \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Bus Replacement Funds For Continuation of Federal Programs For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food \r\nUnreserved Deficit Undesignated \r\nTotal Fund Equity \r\nTotal Liabilities and FJnd Equity \r\n \r\n$ \r\n \r\n14,015.76 \r\n \r\n49,515.50 \r\n \r\n16,932.85 \r\n \r\n$ _ ___,;8::.:0:.z..,4.:.:6;..:.4;..:..1..:..1 \r\n \r\n$ \r\n \r\n42,174.48 \r\n \r\n$ \r\n \r\n14,695.24 \r\n \r\n13,746.47 \r\n \r\n5,196.23 2115.41 \r\n \r\n$ \r\n \r\n55,920.95 $ \r\n \r\n22,006.88 \r\n \r\n226,980.34 \r\n \r\n282,933.84 $ \r\n \r\n$ \r\n \r\n282,901.29 $ \r\n \r\n304,940.72 $ \r\n \r\n$ \r\n \r\n282,901.29 $ \r\n \r\n385,404.83 $ \r\n \r\n0.00 0.00 \r\n0.00 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -2- \r\n \r\n EXHIBIT\"A\" \r\n \r\nFIDUCIARY FUND TYPE AGENCY FUND \r\n \r\n$ \r\n \r\n6,755.97 \r\n \r\nACCOUNT GROUP GENERAL \r\nLONG-TERM DEBT \r\n \r\nTOTALS (Memorandum Only) JUNE 30, 1996 JUNE 30, 1995 \r\n \r\n$ \r\n \r\n606,358.04 $ \r\n \r\n485,306.93 \r\n \r\n61,392.41 \r\n \r\n110,342.18 \r\n \r\n- - - - - - $ _ _ _ _97~4_3_6_.2_1 \r\n \r\n5,196.23 2,115.41 \r\n97,436.21 \r\n \r\n4,449.18 1,864.26 \r\n \r\n$ \r\n \r\n6,755.97 $ \r\n \r\n97,436.21 $ \r\n \r\n772,498.30 $ \r\n \r\n684,654.19 \r\n \r\n$ \r\n \r\n6,755.97 \r\n \r\n$ \r\n \r\n$ \r\n \r\n6 755.97 $ \r\n \r\n$ \r\n97 436.21 97 436.21 $ \r\n \r\n$ 14,015.76 49,515.50 16,932.85 \r\n6,755.97 97,436.21 \r\n184,656.29 $ \r\n \r\n211,891.61 19,646.10 41,073.66 3,479.62 \r\n181,900.78 32,555.74 6,837.21 82,691.64 \r\n580,076.36 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n6,755.97 $ \r\n \r\n$ \r\n \r\n42,174.48 $ \r\n \r\n43,470.59 \r\n \r\n14,695.24 \r\n \r\n2,037.71 \r\n \r\n13,746.47 \r\n \r\n38,017.02 \r\n \r\n5,196.23 2115.41 \r\n \r\n4,449.18 1,864.26 \r\n \r\n$ \r\n \r\n77,927.83 $ \r\n \r\n89,838.76 \r\n \r\n509,914.18 \r\n \r\n-234,762.31 249,501.38 \r\n \r\n$ \r\n \r\n587,842.01 $ \r\n \r\n104,577.83 \r\n \r\n97,436.21 $ \r\n \r\n772,498.30 $ \r\n \r\n684,654.19 \r\n \r\n-3- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1996 \r\n \r\nEXHIBIT\"B\" \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nTOTALS \r\n(Memorandum Onl~l YEAR ENDED \r\nJUNE 30, 1996 JUNE 30, 1995 \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Taxes and Other Funds \r\n \r\n$ 5, 173,345.92 $ 308.95 \r\n3,079,839.43 \r\n \r\n155,579.97 785,352.46 191,544.26 $ \r\n \r\n$ 799.89 \r\n \r\n5,328,925.89 $ 785,661.41 \r\n3,272,183.58 \r\n \r\n4,622,782.19 688,793.10 \r\n2,879,445.97 \r\n \r\nTotal Revenues \r\n \r\n$ 8,253,494.30 $ 1,132,476.69 $ \r\n \r\n799.89 $ 9,386,770.88 $ 8,191,021.26 \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Service Operations Other Operations of Non-Instructional Services \r\nCapital Outlay Debt Service \r\nPrincipal Interest \r\n \r\n$ 4,699,980.65 $ \r\n228,144.39 180,669.06 250,411.91 155,122.18 472,046.08 \r\n67,939.88 642,075.18 536,182.11 \r\n9,999.20 19,828.96 \r\n250.00 35,451.00 71,368.27 12,450.00 \r\n65,874.61 9,705.46 \r\n \r\n379,565.11 30,738.31 34,005.72 4,964.82 15,255.09 \r\n32,710.35 663.52 \r\n588,835.22 \r\n$ \r\n \r\n$ 5,079,545.76 $ 4,541,968.02 \r\n \r\n440,887.00 \r\n \r\n258,882.70 214,674.78 255,376.73 170,377.27 472,046.08 \r\n67,939.88 642,075.18 536,182.11 \r\n42,709.55 20,492.48 589,085.22 35,451.00 71,368.27 453,337.00 \r\n \r\n210,201.81 145,959.28 246,775.51 163,187.36 395,247.59 43,335.22 604,152.64 459,346.37 \r\n9,773.00 33,647.22 607,730.96 32,119.28 60,135.85 983,548.99 \r\n \r\n65,874.61 9,705.46 \r\n \r\n34,930.18 4 707.39 \r\n \r\nTotal Expenditures \r\n \r\n$ 7,457,498.94 $ 1,086,738.14 $ 440,887.00 $ 8,985,124.08 $ 8,576,766.67 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ \r\n \r\n795,995.36 $ \r\n \r\n45,738.55 $ -440,087.11 $ \r\n \r\n401,646.80 $ -385,745.41 \r\n \r\nOTHER FINANCING SOURCES (USES) \r\n \r\nCapital Leases Operating Transfers In Operating Transfers Out \r\n \r\n$ \r\n \r\n80,619.18 \r\n \r\n$ \r\n \r\n-440,438.55 \r\n \r\n351.44 $ \r\n \r\n$ 440,087.11 \r\n \r\n80,619.18 440,438.55 $ -440,438.55 \r\n \r\n909,184.07 -909, 184.07 \r\n \r\nTotal Other Financing Sources (Uses) \r\n \r\n$ -359,819.37 $ \r\n \r\n351.44 $ 440,087.11 $ \r\n \r\n80,619.18 $ \r\n \r\n0.00 \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ \r\n \r\n436,175.99 $ \r\n \r\n46,089.99 $ \r\n \r\n0.00 $ \r\n \r\n482,265.98 $ -385,745.41 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n-153,274.70 \r\n \r\n257,852.53 \r\n \r\n0.00 \r\n \r\n104,577.83 \r\n \r\n492,819.38 \r\n \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\n747.05 251.15 \r\n \r\n747.05 251.15 \r\n \r\n-691.33 -1,804.81 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 282,901.29 $ 304,940.72 $ \r\n \r\n0.00 $ \r\n \r\n587,842.01 $ \r\n \r\n104,577.83 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -4 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nBUDGET AND ACTUAL - (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS \r\nYEAR ENDED JUNE 30, 1996 \r\n \r\nEXHIBIT\"C\" \r\n \r\nREVENUES \r\nState Funds Federal Funds Taxes and Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Service Operations Other Operations of Non-Instructional Services \r\nCapital Outlay Debt Service \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nOther Sources Other Uses \r\nTotal Other Financing Sources (Uses) \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JULY 1, 1995 \r\nAdjustments Food Inventory - Net Change in Period \r\nDonated Commodities Purchased Food \r\n \r\nGENERAL FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\n$ 4,794,173.00 $ 2,994,204.00 \r\n \r\n5,173,345.92 308.95 \r\n3,079,839.43 \r\n \r\n$ 7,788,377.00 $ 8,253,494.30 \r\n \r\n$ 4,521,196.00 $ 4,699,980.65 \r\n \r\n246,625.00 182,889.00 252,810.00 156,351.00 445,742.00 \r\n55,830.00 617,500.00 496,400.00 \r\n10,000.00 24,396.00 \r\n67,299.00 670,000.00 \r\n \r\n228,144.39 180,669.06 250,411.91 155,122.18 472,046.08 \r\n67,939.88 642,075.18 536,182.11 \r\n9,999.20 19,828.96 \r\n250.00 35,451.00 71,368.27 12,450.00 75,580.07 \r\n \r\n$ 7,747,038.00 $ 7,457,498.94 \r\n \r\n$ 41,339.00 $ 795,995.36 \r\n \r\n$ \r\n \r\n80,619.18 \r\n \r\n$ -10,000.00 \r\n \r\n-440,438.55 \r\n \r\n$ -10,000.00 $ -359,819.37 \r\n \r\n$ \r\n \r\n31,339.00 $ 436,175.99 \r\n \r\n18,661.32 \r\n \r\n-153,274.70 \r\n \r\n-18.95 \r\n \r\nFUND BALANCE JUNE 30, 1996 \r\n \r\n$ 49,981.37 $ 282,901.29 \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\n$ 73,600.00 $ 155,579.97 \r\n \r\n618,050.00 \r\n \r\n785,352.46 \r\n \r\n223,506.00 \r\n \r\n191,544.26 \r\n \r\n$ 915, 156.00 $ 1,132,476.69 \r\n \r\n$ 345,950.89 $ 379,565.11 \r\n \r\n28,550.00 2,000.00 7,562.00 8,190.00 \r\n \r\n30,738.31 34,005.72 \r\n4,964.82 15,255.09 \r\n \r\n12,000.00 606,703.00 \r\n \r\n32,710.35 663.52 \r\n588,835.22 \r\n \r\n$ 1,010,955.89 $ 1,086,738.14 $ -95,799.89 $ 45,738.55 \r\n \r\n$ \r\n \r\n351.44 \r\n \r\n$ \r\n \r\n351.44 \r\n \r\n$ -95,799.89 $ \r\n \r\n46,089.99 \r\n \r\n311,903.78 \r\n \r\n257,852.53 \r\n \r\n-6,755.21 \r\n \r\n747.05 251.15 \r\n \r\n$ 209,348.68 $ 304,940.72 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -5- \r\n \r\n THIS PAGE LEFT BLANK \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1996 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nThe Banks County Board of Education (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board and Superintendent, both elected by the voters. With the exception of the departures from generally accepted accounting principles disclosed in these notes, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to governmental units and unless otherwise disclosed in these notes, the financial statements present all of the fund types and account groups of the Board. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards. \r\n \r\nThe more significant of the Board's accounting policies are described below. \r\n \r\nREPORTING ENTITY \r\n \r\n' \r\n \r\nIn evaluating how to define the governmental unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, \"Defining the Financial Reporting Entity\". The primary government consists of all the organizations that compose the legal entity of the Banks County Board of Education. \r\n \r\nBased upon the application of the above criteria, the Banks County Board of Education is determined to be the lowest level of government exercising oversight responsibility and control over all activities related to public education in Banks County, Georgia. The Board is not included in any other governmental \"reporting entity\" as defined by GASB Codification of Governmental Accounting and Financial Reporting Standards. \r\n \r\nBoard members were elected by the public and have decision making authority, the power to designate management, except for the Superintendent who was also elected, the ability to significantly influence operations, and primary accountability for fiscal matters. The Board determines the millage rate at which school taxes are levied and may incur bonded indebtedness with voter approval. \r\n \r\nFUND ACCOUNTING \r\n \r\nThe Board uses funds and an account group to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. \r\n \r\nA fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \r\n \r\nGeneral Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \r\n \r\n-7- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \r\nThe general purpose financial statements account for all State, Federal, Taxes and Other funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \r\nGOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's educational activities. Governmental Fund Types include: \r\nGENERAL FUND-the fund used to account for all financial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. \r\nSPECIAL REVENUE FUND - the fund used to account for the proceeds ofspecific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. \r\nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. \r\nFIDUCIARY FUND TYPE - the agency fund used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. This fund includes: \r\nAGENCY FUND - the fund used to account for assets held for another government. \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for material capital lease obligations. \r\nBASIS OF ACCOUNTING \r\nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focu~. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance \r\n \r\n- 8- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1996 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nsheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. \r\nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \r\nAgency funds are purely custodial in nature and do not involve measurement of results of operations. \r\nGovernmental funds are accounted for using the modified accrual basis of accounting under which: \r\nRevenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). \"Measurable\" means the amount ofthe transaction can be determined and \"available\" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Property taxes are considered available if they are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end. \r\nExpenditures are generally recognized when the related fund liability is incurred. \r\nA departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share of these contracts. During fiscal year 1996, a substantial number of personnel ofthe Board were employed for a one hundred and ninety day period beginning in late August 1995 and ending in early June 1996. Personnel contracts for this employment period specify that compensation  be paid in twelve equal monthly payments beginning in September 1995 and ending in August 1996. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As of June 30, 1996, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1996, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1996. Also, the State's portion of the compensation paid in July and August 1996 was received . and recorded as revenue in the fiscal year subsequent to June 30, 1996. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1995, were recorded in the year ended June 30, 1996. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \r\nAgency funds are accounted for using the modified accrual basis of accounting in recognizing assets and liabilities. \r\n \r\n-9- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nBUDGET \r\nThe Banks County Board of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure ofthe budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. \r\nThe budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper of general circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. \r\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist ofdeposits (including certificates ofdeposit, savings and N.O.W. accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more. solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement of proceeds from bond issues in certificates of deposit is limited to financial institutions located within this State. \r\nRECEIVABLES \r\nReceivables consist of grant reimbursements due from State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \r\nPROPERTY TAXES \r\nThe Banks County Board of Commissioners fixed the property tax levy for the 1995 tax year (calendar year) on October 11, 1995 (levy date). Taxes were due on December 20, 1995. The lien date for property tax~s was January 1, 1995. Taxes collected within the current fiscal year or within 60 days after year-end ru-e reported as revenue in fiscal year 1996 since their collection meets the criteria of GASB codification section \r\n \r\n- 10 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\". \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1996 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nP70.103. The Banks County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the Board. \r\n \r\nThe tax millage rate levied for the 1995 tax year (calendar year) for the Banks County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n12.50 mills \r\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which indicates that these amounts do not constitute \"available spendable resources\" even though they are a component of net current assets. \r\n \r\nINTERFUND TRANSACTIONS \r\n \r\nThe Board has the following types of interfund transactions: \r\n \r\nReimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. \r\n \r\nOperating transfers are recorded for all interfund transactions other than reimbursements. \r\n \r\nMEMORANDUM ONLY - TOTAL COLUMNS \r\n \r\nTotal columns on the general purpose financial statements are captioned \"Memorandum Only\" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. \r\n \r\n- 11 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 2: DEPOSITS \r\nCOLLATERALIZATION OF DEPOSITS Official Code ofGeorgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value of securities shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \r\nAcceptable security for deposits consists of any one of or any combination of the following: \r\n(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \r\n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \r\n(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, \r\n(4) Bonds, bills, notes, certificates of indebtedness or other obligations ofthe counties or municipalities of the State of Georgia, \r\n(5) Bonds of any public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and \r\n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \r\nCATEGORIZATION OF DEPOSITS At June 30, 1996, the bank balances were $1,104,846.99. The amounts of the total bank balances are classified into three categories of credit risk: \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\n- 12 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 2: DEPOSITS \r\n \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \r\n \r\nThe Board's deposits are classified by risk category at June 30, 1996, as follows: \r\n \r\nRisk Category 1 2 3 Total \r\nNote 3: NON-MONETARY TRANSACTIONS \r\n \r\nBank Balance \r\n$ 100,000.00 1,004,846.99 0.00 \r\n$ 1,104,846.99 \r\n \r\nThe Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \r\n \r\nNote 4: RISK MANAGEMENT \r\n \r\nThe Board is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster and unemployment compensation. \r\n \r\nThe Board has obtained commercial insurance for risk of loss associated with torts, assets and errors or omissions. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years. \r\n \r\nThe Board has elected to self-insure for all losses related to natural disaster. The Board has not experienced any losses related to this risks in the past three years. \r\n \r\nThe Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the General Fund with expenditure and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. \r\n \r\nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \r\n \r\n- 13 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 4: RISK MANAGEMENT \r\n \r\nBeginning ofYear Liability \r\n \r\nClaims and Changes in Estimates \r\n \r\nClaims Paid \r\n \r\nEnd of Year Liability \r\n \r\n1995 1996 \r\n \r\n$ \r\n \r\n2,511.00 $ \r\n \r\n3,402.00 $ \r\n \r\n5,481.00 $ \r\n \r\n$ \r\n \r\n432.00 $ \r\n \r\n2,126.00 $ \r\n \r\n2,558.00 $ \r\n \r\n432.00 0.00 \r\n \r\nThe Board participates in the Georgia Education and Government Workers' Compensation Trust, a public entity risk pool organized on December 1, 1991 to develop, implement and administer a program of workers' compensation self-insurance for its member organizations. The Board pays an annual premium to the Trust for its general insurance coverage. Additional insurance coverage is provided through an agreement by the Trust with the Continental Insurance Company to provide coverage for potential losses sustained by the Trust in excess of $250,000.00 loss per occurrence, up to $1,000,000.00. \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCAPITAL LEASES The Banks County Board of Education has entered into various lease agreements as lessee for school buses and office equipment. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value of the future minimum lease payments as of the date of their inception. \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1996, were as follows: \r\n \r\nBalance July 1, 1995 \r\nAdditions Deductions \r\nPayments \r\nBalance June 30, 1996 \r\n \r\nCapital Leases $ 82,691.64 80,619.18 \r\n65,874.61 $ 21,436.21 \r\n \r\nAt June 30, 1996, payments due, by fiscal year which includes principal and interest for these items are as \r\n \r\n~~: \r\n \r\n' \r\n \r\n- 14 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nFiscal Year Ended June 30 \r\n1997 1998 1999 2000 \r\nTotal Principal and Interest \r\nDeduct: Imputed Interest \r\nNet Present Value of Future Minimum Lease Payments \r\n \r\nCapital Leases \r\n$ 22,639.33 35,943.02 35,742.64 18,132.37 \r\n$ 112,457.36 \r\n15,021.15 \r\n$ 97,436.21 \r\n \r\nGENERAL OBLIGATION BONDS On September 17, 1996, the voters of Banks County authorized $7,500,000.00 in general obligation debt to be issued November 19, 1996, for the purpose of providing funds to pay or to be applied toward the cost of acquiring, constructing and equipping school buildings and other buildings and facilities useful or desirable in connection therewith, of adding to, improving, renovating, repairing and equipping existing school buildings and facilities, or acquiring the necessary property therefor, both real and personal, and of paying expenses incident to accomplishing the foregoing. \r\n \r\nNote 6: ON-BEHALF PAYMENTS \r\n \r\nThe Board has recognized revenues and expenditures in the amount of$146,402.92 for health insurance and retirement contributions paid on the Board's behalf by the following State Agencies. \r\n \r\nGeorgia Department of Education Paid to the State Merit System of Personnel Administration For Health Insurance of Non-Certified Personnel In the amount of $111,320.55 \r\n \r\nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $9,074.37 \r\n \r\nOffice of Treasury and Fiscal Services Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost In the amount of $26,008.00 \r\n \r\n- 15 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 7: CONTINGENT LIABILITIES \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \r\nThe Board is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition of these proceedings is not presently determinable, but is not believed to be material to the general purpose financial statements. \r\nNote 8: SUBSEQUENT EVENTS \r\nOn March 18, 1997, the voters of Banks County voted in favor of a Special Purpose Local Option Sales Tax referendum for educational purposes. The imposition of the tax approved by the voters, as stated on the Official Ballot of Banks County, is as follows: \r\n\"Shall a special sales and use tax be imposed in Banks County for a period oftime not to exceed five (5) calendar years and for the raising of not more than $10,598,975.00 for the retirement of $10,598,975.00 of general obligation debt consisting of the principal of and interest on the Banks County School District (Georgia) General Obligation School Bonds, Series 1996, for the years 1997 through 2007 and the payment to redeem said bonds maturing in the years 2009 through 201 7, all of which were issued to construct a new high school.\" \r\nNote 9: RETIREMENT PLANS \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS). \r\nTRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. A member is eligible for service retirement after 30 years of creditable service, regardless of age, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \r\n \r\n- 16 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 9: RETIREMENT PLANS \r\n \r\nRetirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death. \r\n \r\nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest. \r\n \r\nThe Board's payroll for employees covered by TRS for the year ended June 30, 1996, was $4,449,103.01; total payroll was $5,212,911.14. \r\n \r\nTRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board ofTrustees in accordance with State statute and as advised by their independent actuary. For fiscal year 1996 that rate for employer contributions was 11.81%. The interest rate assumption (rate of return on .investments) was 7.50%. \r\n \r\nTotal contributions made during fiscal year 1996 amounted to $747,894.77, of which $525,439.07 was made by the Board and $222,455.70 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll. \r\n \r\nTRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure of the pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers. \r\n \r\nTotal unfunded pension benefit obligation of TRS as of June 30, 1995, was as follows: \r\n \r\nTotal pension benefit obligation Net assets available for benefits, at cost Unfunded pension benefit obligation \r\n \r\n$17,442,607,000.00 15,857,066,000.00 \r\n$ 1,585.541,000.00 \r\n \r\n- 17 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 9: RETIREMENT PLANS \r\nThe measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1995. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate \r\nmeasurements of assets and pension benefit obligation for individual employers. \r\nTotal contributions from all employers to TRS for fiscal year ended June 30, 1996 were $607,275,000.00. The Board's contribution for the year ended June 30, 1996 of $525,439.07 was actuarially determined and represented .0865% of total contributions made by all participating employers. \r\nTen year historical trend information is presented in the 1996 TRS Component Unit Financial Report. This \r\ninformation is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they \r\nbecome due. \r\nPUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS) \r\nPSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System ofGeorgia (PSERS). All employer's contributions are made by the State of Georgia in accordance with State statute. \r\nPSERS provides, in accordance with State statute, service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years of service and attainment of age 65. A member applying for service retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number of years of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \r\nRetirement provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent upon the number of years of service. Ifthere are less than ten years of service, a lump sum refund of the employee's contributions and interest are made to the beneficiary. If there are more than ten years of service, the beneficiary shall receive for life half ofwhat the employee would have received upon retirement. \r\nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest. \r\nThere were 61 employees covered under PSERS for the year ended June 30, 1996. \r\nPSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make \r\n- 18 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 9: RETIREMENT PLANS \r\nemployer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1996 amounted to $2,076.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1996, was $9,817,769.80. \r\nNote 10: SURETY BONDS \r\nThe School Superintendent, Mr. Dock Sisk, is bonded in the amount of $25,000.00 with the State Farm Fire \r\nand Casualty Company, Bloomington, Illinois, their Bond No. 91-11-3332-9, on which premium was paid through January 1, 1997. \r\n \r\n- 19 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1996 \r\n \r\nASSETS \r\nCash and Cash Equivalents \r\nAccounts Receivable \r\nInventories Food Donated Commodities Purchased Food \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nELEMENTARY AND SECONDARY EDUCATION ACT \r\n \r\nTITLE I \r\n \r\nTITLE VI \r\n \r\nGRANTS TO \r\n \r\nTITLE II \r\n \r\nINNOVATIVE \r\n \r\nLOCAL \r\n \r\nEISENHOWER \r\n \r\nEDUCATION \r\n \r\nEDUCATIONAL PROFESSIONAL \r\n \r\nPROGRAM \r\n \r\nAGENCIES \r\n \r\nDEVELOPMENT STRATEGIES \r\n \r\n$ 303,654.80 $ \r\n \r\n0.00 $ \r\n \r\n7,604.20 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n13,898.50 \r\n \r\n26,190.00 \r\n \r\n5,196.23 2,115.41 \r\n \r\nTotal Assets \r\n \r\n$ 324,864.94 $ \r\n \r\n0.00 $ \r\n \r\n33,794.20 $ \r\n \r\nLIABILITIES AND FUND EQUITY \r\n \r\nLIABILITIES \r\n \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable \r\n \r\n$ \r\n \r\n7,852.22 \r\n \r\n26,767.24 \r\n \r\nTotal Liabilities \r\n \r\n$ 34,619.46 \r\n \r\nFUND EQUITY \r\n \r\nFund Balances \r\n \r\nReserved \r\n \r\nFor Continuation of Federal Programs \r\n \r\nFor Inventories \r\n \r\nFood \r\n \r\nDonated Commodities \r\n \r\n$ \r\n \r\nPurchased Food \r\n \r\n5,196.23 2,115.41 \r\n \r\nUnreserved Undesignated \r\n \r\n$ \r\n \r\n7,311.64 \r\n \r\n282,933.84 $ \r\n \r\nTotal Fund Equity \r\n \r\n$ 290,245.48 $ \r\n \r\n$ \r\n \r\n5,728.94 \r\n \r\n20,571.00 \r\n \r\n7,494.26 \r\n \r\n$ \r\n \r\n33,794.20 \r\n \r\n0.00 $ 0.00 $ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n0.00 $ = = = = =0.0=0 \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 324,864.94 $ \r\n \r\n0.00 $ \r\n \r\n33,794.20 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-20- \r\n \r\n EXHIBIT\"E\" \r\n \r\nGOALS 2000 STATE AND \r\nLOCAL EDUCATION SYSTEMIC IMPROVEMENT \r\nGRANTS \r\n \r\nINDIVIDUALS WITH \r\n \r\nDISABILITIES EDUCATION ACT \r\n \r\nPARTS \r\n \r\nSPECIAL EDUCATION \r\n \r\nFLOW \r\n \r\nTHROUGH \r\n \r\nPRESCHOOL \r\n \r\nVOCATIONAL \r\n \r\nEDUCATION \r\n \r\nTOTALS \r\n \r\nFEDERAL JUNE 30, 1996 JUNE 30, 1995 \r\n \r\n$ \r\n \r\n14,695.24 $ 11,921.42 $ \r\n \r\n0.00 \r\n \r\n$ 337,875.66 $ 268,413.20 \r\n \r\n$ 10,000.00 \r\n \r\n50,088.50 \r\n \r\n51,725.27 \r\n \r\n5,196.23 2,115.41 \r\n \r\n4,449.18 1,864.26 \r\n \r\n$ \r\n \r\n14,695.24 $ 11,921.42 $ = = = =0.= 00 $ 10,000.00 $ 395,275.80 $ 326,451.91 \r\n \r\n$ \r\n \r\n434.60 \r\n \r\n2,177.26 \r\n \r\n9,309.56 \r\n \r\n$ 11,921.42 \r\n \r\n$ \r\n \r\n9,870.97 $ \r\n \r\n129.03 $ 10,000.00 $ \r\n \r\n9,870.97 $ 14,015.76 49,515.50 16,932.85 \r\n90,335.08 $ \r\n \r\n4,400.00 19,646.10 41,073.66 \r\n3,479.62 \r\n68,599.38 \r\n \r\n$ \r\n \r\n14,695.24 \r\n \r\n$ \r\n \r\n14,695.24 \r\n \r\n0.00 $ \r\n \r\n$ \r\n \r\n14,695.24 $ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n$ \r\n \r\n14,695.24 $ \r\n \r\n2,037.71 \r\n \r\n$ 0.00 0.00 $ \r\n \r\n5,196.23 2,115.41 22,006.88 $ 282,933.84 \r\n304,940.72 $ \r\n \r\n4,449.18 1,864.26 8,351.15 249,501.38 257,852.53 \r\n \r\n$ \r\n \r\n14,695.24 $ 11,921.42 $ = = = =0.= 00 $ 10,000.00 $ 395,275.80 $ 326,451.91 \r\n \r\n- 21 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nSPECIAL REVENUE FUND YEAR ENDED JUNE 30, 1996 \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nELEMENTARY AND SECONDARY EDUCATION ACT \r\n \r\nTITLE I \r\n \r\nTITLE VI \r\n \r\nGRANTS TO \r\n \r\nTITLE II \r\n \r\nINNOVATIVE \r\n \r\nLOCAL \r\n \r\nEISENHOWER \r\n \r\nEDUCATION \r\n \r\nEDUCATIONAL PROFESSIONAL \r\n \r\nPROGRAM \r\n \r\nAGENCIES \r\n \r\nDEVELOPMENT STRATEGIES \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Taxes and Other Funds \r\n \r\n$ 37,918.00 $ 117,661.97 \r\n \r\n392,806.02 \r\n \r\n$ \r\n \r\n191,544.26 \r\n \r\n214,695.74 $ \r\n \r\n6,277.29 $ \r\n \r\n9,929.00 \r\n \r\nTotal Revenues \r\n \r\n$ 622,268.28 $ 117,661.97 $ 214,695.74 $ \r\n \r\n6,277.29 $ \r\n \r\n9,929.00 \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Maintenance and Operation of Plant Central Support Services Other Support Services Food Services Operation \r\n \r\n$ 117,661.97 $ 206,145.93 \r\n$ 7,886.29 \r\n \r\n$ 588,835.22 \r\n \r\n663.52 \r\n \r\n8,319.66 $ 15.65 \r\n \r\n4,945.65 4,964.82 \r\n22.38 \r\n \r\nTotal Expenditures \r\n \r\n$ 588,835.22 $ 117,661.97 $ 214,695.74 $ \r\n \r\n8,335.31 $ \r\n \r\n9,932.85 \r\n \r\nExcess of Revenues over (under) Expenditures $ 33,433.06 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n-2,058.02 $ \r\n \r\n-3.85 \r\n \r\nOTHER FINANCING SOURCES \r\n \r\nOperating Transfers In \r\n \r\n20.31 \r\n \r\n3.85 \r\n \r\nExcess of Revenues and Other Financing Sources \r\n \r\nover (under) Expenditures \r\n \r\n$ 33,433.06 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n-2,037.71 $ \r\n \r\n0.00 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n255,814.22 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n2,037.71 \r\n \r\n0.00 \r\n \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\n747.05 251.15 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 290,245.48 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\no.oo $====o=.o=o \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 22 - \r\n \r\n EXHIBIT\"F\" \r\n \r\nGOALS2000 STATE AND \r\nLOCAL EDUCATION SYSTEMIC IMPROVEMENT \r\nGRANTS \r\n \r\nINDIVIDUALS WITH \r\n \r\nDISABILITIES EDUCATION ACT \r\n \r\nPARTB \r\n \r\nSPECIAL EDUCATION \r\n \r\nFLOW \r\n \r\nTHROUGH \r\n \r\nPRESCHOOL \r\n \r\nVOCATIONAL EDUCATION \r\nFEDERAL \r\n \r\nTOTALS YEAR ENDED JUNE 30, 1996 JUNE 30, 1995 \r\n \r\n$ \r\n \r\n67,156.00 $ 65,097.44 $ \r\n \r\n$ \r\n \r\n67,156.00 $ 65,097.44 $ \r\n \r\n14,520.00 $ 14,520.00 $ \r\n \r\n$ 14,870.97 \r\n \r\n155,579.97 $ 785,352.46 191,544.26 \r\n \r\n110,400.29 664,559.04 228,844.55 \r\n \r\n14,870.97 $ 1,132,476.69 $ 1,003,803.88 \r\n \r\n$ 26,366.24 $ \r\n \r\n30,738.31 \r\n \r\n$ \r\n \r\n19,750.41 \r\n \r\n990.00 \r\n \r\n7,330.77 \r\n \r\n32,710.35 \r\n \r\n$ \r\n \r\n52,460.76 $ 65,425.32 $ \r\n \r\n$ \r\n \r\n14,695.24 $ \r\n \r\n-327.88 $ \r\n \r\n14,520.00 $ \r\n14,520.00 $ 0.00 $ \r\n \r\n14,870.97 $ 379,565.11 $ 298,224.99 \r\n \r\n30,738.31 34,005.72 \r\n4,964.82 15,255.09 \r\n32,710.35 663.52 \r\n588,835.22 \r\n \r\n34,072.39 6,522.20 \r\n38,397.20 17,349.04 \r\n2,800.00 120.00 \r\n607,730.96 \r\n \r\n14,870.97 $ 1,086,738.14 $ 1,005,216.78 \r\n \r\n0.00 $ \r\n \r\n45,738.55 $ \r\n \r\n-1,412.90 \r\n \r\n327.28 \r\n \r\n$ \r\n \r\n14,695.24 $ \r\n \r\n0.00 \r\n \r\n-0.60 $ 0.60 \r\n \r\n0.00 $ 0.00 \r\n \r\n351.44 \r\n \r\n2,177.86 \r\n \r\n0.00 $ 0.00 \r\n \r\n46,089.99 $ 257,852.53 \r\n \r\n764.96 259,583.71 \r\n \r\n747.05 251.15 \r\n \r\n-691.33 -1,804.81 \r\n \r\n$ \r\n \r\n14,695.24 $ \r\n \r\n0.00 $ = = = = =0.0=0 $ \r\n \r\n0.00 $ 304,940.72 $ 257,852.53 \r\n \r\n- 23- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION STATEMENT OF CHANGES IN ASSETS AND LIABILITIES \r\nFIDUCIARY FUND TYPE - AGENCY FUND YEAR ENDED JUNE 30, 1996 \r\n \r\nEXHIBIT\"G\" \r\n \r\nPUBLIC LIBRARY FUND \r\nASSETS Cash and Cash Equivalents \r\n \r\nBALANCE JULY 1, 1995 \r\n \r\nADDITIONS \r\n \r\nDEDUCTIONS \r\n \r\nBALANCE JUNE 30, 1996 \r\n \r\n$ \r\n \r\n6,837.21 $ \r\n \r\n30,792.90 $ \r\n \r\n30,874.14 $ ===6=,7=5=5=.9=7 \r\n \r\nLIABILITIES Funds Held for Others \r\n \r\n$ \r\n \r\n6,837.21 $ \r\n \r\n30,792.90 $ \r\n \r\n30,874.14 $ \r\n \r\n6,755.97 \r\n \r\n======= \r\n \r\nSee notes to the general purpose financial statements. - 24 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nYEAR ENDED JUNE 30. 1996 \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\nAgriculture, U. S. Department of Through Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1996 Grant National School Lunch Program 1996 Grant Food Distribution Program (1) Through Office of Treasury and Fiscal Services National Forest Reserve Funds \r\nTotal U.S. Department of Agriculture \r\nEducation, U. S. Department of Through Georgia Department of Education Elementary and Secondary Education Act Title I Grants to Local Educational Agencies 1996 Grant Title II Eisenhower Professional Development 1995 Regular 1996 Grant Title VI Innovative Education Program Strategies 1996 Grant Goals2000 State and Local Education Systemic Improvement Grants 1996 Grant Individuals with Disabilities Education Act Part B - Special Education Flow Through 1996 Grant Preschool 1996 Grant Vocational Education - Basic Grants to States High School Program Basic Grant 1996 Grant \r\nTotal U. S. Department of Education \r\n \r\nCFDA NUMBER \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n10.553 $ \r\n10.555 10.550 \r\n10.665 \r\n$ \r\n \r\n108,390.11 \r\n246,203.23 $ \r\n38,212.68 \r\n308.95 \r\n3931114.97 $ \r\n \r\n(2) 550,622.54 (3) \r\n38,212.68 \r\n(4} 588,835.22 \r\n \r\n84.010 $ 214,695.74 $ \r\n \r\n214,695.74 \r\n \r\n84.281 84.281 \r\n \r\n-1,722.71 8,000.00 \r\n \r\n315.00 8,020.31 (3) \r\n \r\n84.298 \r\n \r\n9,929.00 \r\n \r\n9,932.85 (3) \r\n \r\n84.276 \r\n \r\n67,156.00 \r\n \r\n52,460.76 \r\n \r\n84.027 84.173 \r\n \r\n65,097.44 14,520.00 \r\n \r\n65,425.32 (3) 14,520.00 \r\n \r\n84.048 $ \r\n \r\n14,870.97 392,546.44 $ \r\n \r\n14,870.97 380,240.95 \r\n \r\nTotal Federal Financial Assistance . The Board had no major programs as defined by the Single Audit Act of 1984. \r\n \r\n$ 785,661.41 $==9=6;;;9;.,;,0;,;,7,;;,6;,;,1,;,,,7 \r\n \r\n(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. \r\n(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1996 National School Lunch Program. \r\n(3) Expenditures for this program include State and/or Other Funds. Expenditures are not maintained by fund source. \r\n(4) Funds earned on this program do not require reporting of expenditures. \r\nSee notes to the general purpose financial statements. \r\n- 25 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30, 1996 \r\nINTEREST BEARING ACCOUNTS \r\nRegions Bank, Homer, Georgia \r\nCertificate ofDeposit No. 50559 (4.61%) Money Market Account (2.26%) N.O.W. Accounts (2.47%) \r\n \r\nSCHEDULE 211 11 \r\n$ 113,307.75 5,601.83 \r\n487,448.46 $ 606,358.04 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 26 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30, 1996 \r\n \r\nSCHEDULE 311 11 \r\n \r\nBanks County Tax Commissioner Real Estate Transfer Tax \r\nEducation, Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education State Federal  Federal Program Elementary and Secondary Education Act Title I Grants to Local Educational Agencies \r\nUniversity of Georgia Upward Bound \r\nVendor Credit \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n10,198.16 \r\n \r\n$ \r\n \r\n10,198.16 \r\n \r\n$ 800.52 \r\n \r\n12,504.25 1,288.00 \r\n10,000.00 \r\n \r\n12,504.25 1,288.00 \r\n800.52 10,000.00 \r\n \r\n305.23 \r\n \r\n26,190.00 106.25 \r\n \r\n26,190.00 \r\n305.23 106.25 \r\n \r\n$ \r\n \r\n11,303.91 $ \r\n \r\n50,088.50 $ ====6=1=,39=2=.41= \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 27 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 1996 \r\n \r\nSCHEDULE \"411 \r\n \r\nAGENCY/FUNDING \r\nGRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Sparsity Grant Middle School Incentive Program Special Instructional Assistance In-School Suspension Counselors Grades 4 and 5 Mid-term Adjustment Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Health Insurance Innovative Programs Pay for Performance Program Preschool Handicapped Program Teachers' Retirement Technology Grant Lottery Programs Instructional Technology Technology Installation \r\nOffice of Treasury and Fiscal Services Public School Employees Retirement \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 3,293,203.00 529,783.00 65,735.00 137,736.00 45,231.00 945,790.00 \r\n303,613.00 97,921.00 44,607.00 \r\n129,864.00 42,884.00 74,205.00 \r\n9,268.00 176,814.00 -1,157,911.00 \r\n34,840.00 $ \r\n151,749.00 \r\n111,320.55 5,000.00 \r\n52,000.00 18,846.00 \r\n9,074.37 25,765.00 \r\n \r\n$ 3,293,203.00 529,783.00 65,735.00 137,736.00 45,231.00 945,790.00 \r\n \r\n37,918.00 \r\n \r\n303,613.00 97,921.00 44,607.00 \r\n129,864.00 42,884.00 74,205.00 \r\n9,268.00 176,814.00 -1,157,911.00 \r\n34,840.00 37,918.00 151,749.00 \r\n \r\n111,320.55 5,000.00 \r\n52,000.00 18,846.00 \r\n9,074.37 25,765.00 \r\n \r\n78,061.97 39,600.00 \r\n \r\n78,061.97 39,600.00 \r\n \r\n26,008.00 \r\n \r\n26,008.00 \r\n \r\n$ 5,173,345.92 $ \r\n \r\n155,579.97 $ 5,328,925.89 \r\n \r\nSee notes to the general purpose financial statements. - 28 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF TAXES AND OTHER REVENUE \r\nYEAR ENDED JUNE 30, 1996 \r\n \r\nSCHEDULE \"5\" \r\n \r\nTaxes County Wide School Tax Railroad Car Tax Real Estate Transfer Tax \r\nOther Sources Interest Earned Reimbursements For After School Program Banks County Primary School For Grass Roots Program The Arts Council For Upward Bound Program University of Georgia Sales Adult Meals Lunches and Breakfast Supplemental Shared Service Contributions Ninth District Opportunity, Incorporated Tuition Other \r\n \r\nGOVERNMENTAL FUND TYPES- \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nREVENUE PROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 3,009,806.46 1,611.95 \r\n10,198.16 \r\n \r\n$ 3,009,806.46 1,611.95 \r\n10,198.16 \r\n \r\n6,314.95 $ 9,978.17 \r\n \r\n16,293.12 \r\n \r\n37,942.69 1,278.00 915.69 \r\n5,850.00 2,933.00 2,988.53 \r\n \r\n23,477.00 136,790.68 21,298.41 \r\n$ \r\n \r\n799.89 \r\n \r\n37,942.69 \r\n1,278.00 \r\n915.69 \r\n23,477.00 136,790.68 21,298.41 \r\n5,850.00 2,933.00 3,788.42 \r\n \r\n$ 3,079,839.43 $ 191,544.26 $ \r\n \r\n799.89 $ 3,272,183.58 \r\n \r\nSee notes to the general purpose financial statements. - 29 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \r\nGOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1996 \r\n \r\nSCHEDULE \"6\" \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nTOTAL \r\n \r\nEXPENDITURES \r\n \r\nOperating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Compensation and Travel of Board Members Water, Sewer and Cleaning Services Repair and Maintenance Services Insurance Communications Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Interest Expense Other Expenditures \r\n \r\n$ 4,841,872.70 $ 1,473,395.61 22,235.62 106,666.40 5,736.80 27,434.98 99,914.21 16,073.55 19,721.23 \r\n19,999.20 11,003.86 203,721.32 244,911.06 \r\n83,000.75 13,963.39 31,382.67 \r\n400.00 \r\n \r\n361,406.43 93,863.34 6,094.13 97,953.34 \r\n3,456.33 \r\n3,214.80 32,710.35 \r\n111,063.82 \r\n281,835.58 242.63 \r\n2,945.00 \r\n8,100.41 \r\n \r\n$ 5,203,279.13 1,567,258.95 28,329.75 204,619.74 5,736.80 27,434.98 103,370.54 16,073.55 19,721.23 3,214.80 52,709.55 11,003.86 314,785.14 244,911.06 281,835.58 83,243.38 16,908.39 31,382.67 8,500.41 \r\n \r\nNonoperating Costs Principal and Interest Building and Building Improvements Equipment \r\n \r\n75,580.07 12,450.00 148,035.52 \r\n \r\n$ 440,887.00 83,851.98 \r\n \r\n75,580.07 453,337.00 231,887.50 \r\n \r\nTotal Expenditures \r\n \r\n$ 7,457,498.94 $ 1,086,738.14 $ 440,887.00 $ 8,985,124.08 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 30 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \r\nLOTTERY PROGRAMS YEAR ENDED JUNE 30, 1996 \r\n \r\nSCHEDULE \"7\" \r\n \r\nEXPENDITURES Operating Costs Professional and Technical Services Supplies Nonoperating Costs Equipment \r\nTotal Expenditures \r\n \r\nINSTRUCTIONAL TECHNOLOGY TECHNOLOGY INSTALLATION \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n39,600.00 $ \r\n \r\n39,600.00 \r\n \r\n$ \r\n \r\n16,707.99 \r\n \r\n16,707.99 \r\n \r\n61,353.98 \r\n \r\n61,353.98 \r\n \r\n$ \r\n \r\n78,061.97 $ \r\n \r\n39,600.00 $ ======1==17=,6=6==1==.9=7 \r\n \r\nSee notes to the general purpose financial statements. - 31 - \r\n \r\n THIS PAGE LEFT BLAHK \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1996 \r\n \r\nSCHEDULE 811 11 \r\n \r\nMinimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis \r\nSalaries Operations \r\nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \r\nExpenditures per Audit \r\nAmount of Underexpenditure for Total Allotment \r\n \r\nTHIRTEEN WEIGHTED AND MEDIA CENTER \r\nPROGRAMS \r\n \r\n100% TEST FOR OPERATIONS PORTION OF THIRTEEN WEIGHTED PROGRAMS \r\n \r\n$ 4,178,271.00 $ \r\n \r\n138,108.00 \r\n \r\n$ 3,969,646.97 320,583.74 $ _ _ _2_9;..;.3.:.;,9..;.8.;_;3..;..53_ \r\n$ 4,290,230.71 \r\n \r\n-103,411.41 $ 4,186,819.30 \r\n \r\n$ \r\n \r\n0.00 $ = = = = =0.=00 \r\n \r\nSee notes to the general purpose financial statements. - 33 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS  BY PROGRAM \r\nGENERAL FUND QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30. 1996 \r\n \r\nGENERAL AND CAREER EDUCATION PROGRAMS Kindergarten () Grades 1  3 () Sub-Total  K-3 Grades 4  5 () \r\nGrades 6  8 (J Grades 9  12 cJ \r\nHigh School Labora1ories () \r\nVocational Education Labora1ories cJ \r\nTotal General and Career Education Programs SPECIAL EDUCATION PROGRAMS \r\nRegular Programs \r\nCategory I cJ Category II i) \r\nCategory Ill () \r\nCategory IV cJ \r\nSub-Total  Regular Category V (Gifted) () \r\nTotal Special Education Programs REMEDIAL EDUCATION PROGRAM() \r\nTotal Thirteen Weighted Programs MEDIA CENTER PROGRAMS \r\nSalaries Operations \r\nTotal Media Center Programs \r\nTotal Thirteen Weighted and Media Center Programs \r\nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \r\nTotal Staff Development Programs \r\nc) Identifies Thirteen Weighted Programs. \r\n \r\nALLOTMENTS FROM DEPARTMENT OF EDUCATION \r\n \r\nREQUIRED \r\n \r\nORIGINAL \r\n \r\n% \r\n \r\nORIGINAL \r\n \r\nMID-TERM \r\n \r\n$ \r\n \r\n317,019.00 \r\n \r\n$ \r\n \r\n285,317.10 $ \r\n \r\n845,178.00 \r\n \r\n760,660.20 \r\n \r\n$ 1,162,197.00 90 $ 1,045,977.30 $ \r\n \r\n408,278.00 90 \r\n \r\n367,450.20 \r\n \r\n780,614.00 90 \r\n \r\n702,552.60 \r\n \r\n377,070.00 90 \r\n \r\n339,363.00 \r\n \r\n248,346.00 90 \r\n \r\n223,511.40 \r\n \r\n316,698.00 90 \r\n \r\n285,028.20 \r\n \r\n$ 3,293,203.00 \r\n \r\n$ 2,963,882.70 $ \r\n \r\n40,000.00 55,000.00 95,000.00 56,814.00 \r\n151,814.00 \r\n \r\n$ \r\n \r\n507,607.00 \r\n \r\n$ \r\n \r\n456,846.30 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n507,607.00 90 $ \r\n \r\n456,846.30 $ \r\n \r\n22,176.00 90 \r\n \r\n19,958.40 \r\n \r\n$ \r\n \r\n529,783.00 \r\n \r\n$ \r\n \r\n476,804.70 $ \r\n \r\n$ \r\n \r\n65,735.00 90 $ \r\n \r\n59,161.50 $ \r\n \r\n$ 3,888,721.00 \r\n \r\n$ 3,499,848.90 $ \r\n \r\n0.00 \r\n0.00 0.00 151,814.00 \r\n \r\n$ \r\n \r\n109,669.00 90 $ \r\n \r\n28,067.00 90 \r\n \r\n98,702.10 $ 25,260.30 \r\n \r\n$ \r\n \r\n137,736.00 \r\n \r\n$ \r\n \r\n123,962.40 $ \r\n \r\n0.00 0.00 \r\n \r\n$ 4,026,457.00 \r\n \r\n$ 3,623,811.30 $ \r\n \r\n151,814.00 \r\n \r\n$ \r\n \r\n11,157.00 \r\n \r\n34,074.00 \r\n \r\n$ \r\n \r\n11,157.00 $ \r\n \r\n34,074.00 \r\n \r\n$ \r\n \r\n45,231.00 100 $ \r\n \r\n45,231.00 $ \r\n \r\n0.00 0.00 \r\n0.00 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 34 - \r\n \r\n SCHEDULE \"9\" \r\n \r\nTOTAL REQUIRED \r\n \r\nACTUAL EXPENDITURES \r\n \r\nSALARIES \r\n \r\nOPERATIONS \r\n \r\nTOTAL \r\n \r\nAMOUNT OF UNDEREXPENDITURE \r\nFOR REQUIRED ALLOTMENT \r\n \r\n$ \r\n \r\n325,317.10 $ \r\n \r\n337,514.57 $ \r\n \r\n10,243.72 $ \r\n \r\n347,758.29 \r\n \r\n815,660.20 \r\n \r\n852,545.97 \r\n \r\n34,628.01 \r\n \r\n887,173.98 \r\n \r\n$ 1,140,977.30 $ 1, 190,060.54 $ \r\n \r\n44,871.73 $ 1,234,932.27 $ \r\n \r\n0.00 \r\n \r\n424,264.20 \r\n \r\n452,358.76 \r\n \r\n21,075.53 \r\n \r\n473,434.29 \r\n \r\n0.00 \r\n \r\n702,552.60 \r\n \r\n695,108.21 \r\n \r\n40,681.31 \r\n \r\n735,789.52 \r\n \r\n0.00 \r\n \r\n339,363.00 \r\n \r\n421,718.32 \r\n \r\n29,482.92 \r\n \r\n451,201.24 \r\n \r\n0.00 \r\n \r\n223,511.40 \r\n \r\n193,692.77 \r\n \r\n29,838.29 \r\n \r\n223,531.06 \r\n \r\n0.00 \r\n \r\n285,028.20 \r\n \r\n265,630.92 \r\n \r\n34,561.30 \r\n \r\n300,192.22 \r\n \r\n0.00 \r\n \r\n$ 3,115,696.70 $ 3,218,569.52 $ \r\n \r\n200,511.08 $ 3,419,080.60 \r\n \r\n$ \r\n \r\n456,846.30 \r\n \r\n$ \r\n \r\n14,802.11 $ 148,011.08 271,580.93 \r\n9,561.52 \r\n \r\n591.36 $ 2,321.00 84,867.44 3,982.84 \r\n \r\n15,393.47 150,332.08 356,448.37 \r\n13,544.36 \r\n \r\n$ \r\n \r\n456,846.30 $ \r\n \r\n443,955.64 $ \r\n \r\n91,762.64 $ \r\n \r\n535,718.28 \r\n \r\n0.00 \r\n \r\n19,958.40 \r\n \r\n31,420.70 \r\n \r\n635.61 \r\n \r\n32,056.31 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n476,804.70 $ \r\n \r\n475,376.34 $ \r\n \r\n92,398.25 $ \r\n \r\n567,774.59 \r\n \r\n$ \r\n \r\n59,161.50 $ \r\n \r\n61,153.91 $ \r\n \r\n1,074.20 $ \r\n \r\n62,228.11 \r\n \r\n0.00 \r\n \r\n$ 3,651,662.90 $ 3,755,099.77 $ \r\n \r\n293,983.53 $ 4,049,083.30 \r\n \r\n$ \r\n \r\n98,702.10 $ \r\n \r\n214,547.20 \r\n \r\n$ \r\n \r\n214,547.20 \r\n \r\n0.00 \r\n \r\n25,260.30 \r\n \r\n$ \r\n \r\n26,600.21 \r\n \r\n26,600.21 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n123,962.40 $ \r\n \r\n214,547.20 $ \r\n \r\n26,600.21 $ \r\n \r\n241,147.41 \r\n \r\n$ 3,775,625.30 $ 3,969,646.97 $ \r\n \r\n320,583.74 $ 4,290,230.71 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n11,157.00 \r\n \r\n34,074.00 \r\n \r\n$ ===4=5=,2=3=1.=0=0 \r\n \r\n$ \r\n \r\n18,397.84 $ \r\n \r\n18,397.84 \r\n \r\n27,427.63 \r\n \r\n27,427.63 \r\n \r\n$ \r\n \r\n45,825.47 $ \r\n \r\n45,825.47 $======0==00= \r\n \r\n- 35 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \r\nYEAR ENDED JUNE 30. 1996 \r\n \r\nSCHEDULE \"1 O\" \r\n \r\nBOARD MEMBER ADDRESS \r\nMr. Dave Rylee, Chairman (*) 1733 Georgia Highway 98 West Maysville, Georgia 30558 \r\nMr. Len B. Dalton, Jr. (*) 5433 Highway 441 North Baldwin, Georgia 30511 \r\nMr. Donald Davis (*) 529 Berlin Road Homer, Georgia 30547 \r\nMr. Bo Garrison (*) 1281 Marshburn Road Homer, Georgia 30547 \r\nMr. Don Shubert (*) 288 Turner Drive Homer, Georgia 30547 \r\n(*) Denotes Board Members Serving as of June 30, 1996 \r\n \r\nCOMPENSATION \r\n \r\nTRAVEL \r\n \r\n$ \r\n \r\n1,300.00 \r\n \r\n1,150.00 \r\n \r\n1,100.00 \r\n \r\n1,000.00 \r\n \r\n1,100.00 $ \r\n \r\n86.80 \r\n \r\n$ \r\n \r\n5,650.00 $ ========8=6.=8=0 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 36 - \r\n \r\n SECTION II COMPLIANCE \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nJune 6, 1997 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the Banks County Board of Education \r\nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements of the Banks County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated June 6, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\nWe conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. \r\nCompliance with laws, regulations, contracts, and grants applicable to Banks County Board of Education is the responsibility of the Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective of our audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion. \r\nThe results of our tests disclosed no instances of noncompliance that are required to be reported herein under Government Auditing Standards. \r\n \r\n96CRL-10 \r\n \r\n This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\n \r\nCLV:dt 96CRL-10 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nJune 6, 1997 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the Banks County Board ofEducation \r\n \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\n \r\nLadies and Gentlemen: \r\n \r\nWe have audited the general purpose financial statements ofthe Banks County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated June 6, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\n \r\nWe have applied procedures to test the Banks County Board of Education's compliance with the following requirements applicable to each of its Federal financial assistance programs, which are listed in the Schedule of Federal Financial Assistance, for the year ended June 30, 1996: \r\n \r\n(1) Political Activity \r\n \r\n(5) Allowable Costs/Cost Principles \r\n \r\n(2) Civil Rights \r\n \r\n(6) Audit Follow-Up/Resolution \r\n \r\n(3) Cash Management \r\n \r\n(7) Administrative Requirements \r\n \r\n(4) Federal Financial Reports \r\n \r\nOur procedures were limited to the applicable procedures described in the Office of Management and Budget's \"Compliance Supplement for Single Audits of State and Local Governments\" and other additional procedures as deemed necessary. Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Board's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. \r\n \r\n96CRL-40 \r\n \r\n With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph of this report. With respect to items not tested, nothing came to our attention that caused us to believe that Banks County Board of Education had not complied, in all material respects, with those requirements. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers \r\nState Auditor \r\nCLV:dt 96CRL-40 \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nJune 6, 1997 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the Banks County Board of Education \r\n \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \r\n \r\nLadies and Gentlemen: \r\n \r\nWe have audited the general purpose financial statements of the Banks County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated June 6, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the genral purpose financial statements. \r\n \r\nIn connection with our audit ofthe fiscal year 1996 general purpose financial statements of the Banks County Board of Education and with our consideration of the Board's control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (0MB) Circular A-128, \"Audits of State and Local Governments\", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1996. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements govemmg: \r\n \r\n(1) Types of Services Allowed or Unallowed \r\n \r\n(3) Applicable Special Tests and Provisions \r\n \r\n(2) Eligibility \r\n \r\nOur procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Banks County Board of Education's compliance with these requirements. Accordingly, we do not express such an opinion. \r\n \r\n96CRL-120 \r\n \r\n With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Banks County Board of Education had not complied, in all material respects, with those requirements. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:dt 96CRL-120 \r\n \r\n SECTION III INTERNAL CONTROL \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nJune 6, 1997 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board of Education \r\nand Superintendent and Members ofthe Banks County Board of Education \r\nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements of the Banks County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated June 6, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\nWe conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. \r\nThe management of the Banks County Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. \r\n \r\n96ICL-3 \r\n \r\n In planning and performing our audit of the general purpose financial statements of the Banks County Board ofEducation for the year ended June 30, 1996, we obtained an understanding of the internal control structure. With respect to the internal control structure, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion. \r\nWe noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements. \r\nAs described in the Schedule of Findings and Improper or Questioned Costs, a reportable condition was noted in the following control category: \r\nGeneral Fixed Assets \r\nA material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. \r\nOur consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition disclosed above is also considered to be a material weakness. \r\nThis condition was considered in determining the nature, timing, and extent ofthe procedures to be performed in our audit of the Banks County Board of Education's financial statements and this report does not affect our report thereon dated June 6, 1997. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:dt 96ICL-3 \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nJune 6, 1997 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the Banks County Board of Education \r\nSINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements ofthe Banks County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated June 6, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\nWe conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and the provisions of Office of Management and Budget (0MB) Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. \r\nIn planning and performing our audit for the year ended June 30, 1996, we considered the internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated June 6, 1997. \r\nThe management of the Banks County Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, \r\n96ICL-13 \r\n \r\n assurance that assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that Federal financial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities or instances of noncompliance may nevertheless occur and not be detected. Also, projection ofany evaluation ofthe structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. \r\n \r\nFor the purposes of this report, we have classified the significant internal control structure policies and procedures used in administering Federal financial assistance programs in the following control categories: \r\n \r\nGENERAL REQUIREMENTS \r\n \r\nSPECIFIC REQUIREMENTS \r\n \r\n(1) Political Activity (2) Civil Rights (3) Cash Management (4) Federal Financial Reports \r\n \r\n(1) Types of Services Allowed or Unallowed \r\n(2) Eligibility \r\n(3) Matching, Level of Effort, and/or Earmarking \r\n \r\n(5) Allowable Costs/Cost Principles \r\n \r\n(4) Reporting \r\n \r\n(6) Audit Follow-Up/Resolution (7) Administrative Requirements \r\n \r\n(5) Applicable Special Tests and Provisions \r\n(6) Other Requirement Claims for Advances and Reimbursements \r\n \r\nFor all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk. \r\n \r\nDuring the year ended June 30, 1996, the Banks County Board of Education had no major Federal financial assistance programs and expended 59% of its total Federal financial assistance under the following nonmajor Federal financial assistance programs: \r\n \r\nFood and Nutrition Program Food Services National School Lunch Program \r\nElementary and Secondary Education Act, Title I Grants to Local Educational Agencies \r\n \r\n96ICL-13 \r\n \r\n We performed tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements and specific requirements as described above that are applicable to the aforementioned nonmajor Federal financial assistance programs. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. \r\nOur consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might constitute material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n \r\nCLV:dt 96ICL-13 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1996 \r\nPRIOR YEAR \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Finding Resolved Audit Control Number 6061-93-03 \r\nThe audit report for the year ended June 30, 1993, reported that the Board had underexpenditures of Quality Basic Education (QBE) funds of $14,723.91 for the salaries portion ofthe High School Laboratories Program and $7,494.98 for the salaries portion of the Vocational Education Laboratories Program. In the year under review, the Georgia Department ofEducation made an increase to the Board's local fair share in the amount of $22,218.89 as required. \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Finding Resolved Audit Control Number 6061-93-04 \r\nThe audit report for the year ended June 30, 1993, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of$2,051.66 for the Staff Development - Professional Development Stipends Program. In the year under review, the Georgia Department of Education made an increase to the Board's local fair share in the amount of $2,051.66 as required. \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $10,572.44 Audit Control Number 6061-94-01 \r\nThe audit report for the year ended June 30, 1994, reported that the Board had underexpenditures of Quality Basic Education (QBE) funds of$9,257.68 for the salaries portion of the High School Laboratories Program and $1,314.76 for the salaries portion of the Vocational Education Laboratories Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department of Education to refund these underexpenditures as required. The underexpenditure of $10,572.44 should be returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs in the subsequent fiscal period. \r\n- 1- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1996 \r\nPRIOR YEAR \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $3,174.03 Audit Control Number 6061-94-02 \r\nThe audit report for the year ended June 30, 1994, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of$3,l 74.03 for the Staff Development - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department of Education to refund this underexpenditure as required. The underexpenditure of $3,174.03 should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in the subsequent fiscal period. \r\nPRIOR YEAR/CURRENT YEAR \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6061-93-02 \r\nThe audit report for the year ended June 30, 1995, noted that the management of the Banks County Board of Education had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally acc;epted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of the General Fixed Assets Account Group. These subsidiary records should include an inventory of land, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. \r\nNote: The Banks County Board of Education was provided an opportunity to include pertinent comments from the Board's management concerning these audit findings, conclusions and recommendations. The Board has elected not to provide comments for inclusion in this report. \r\n-2- \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1994-h95","title":"Audit report, Banks County Board of Education, Homer, Georgia, year ended June 30, 1995","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits.","Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Banks County, 34.35413, -83.49737"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1995-06-30"],"dcterms_description":["Title fluctuates: Audits conducted \"in accordance with generally accepted auditing standards\" are issued as: Audit report; reviews that are \"substantially less in scope than an audit in accordance with generally accepted auditing standards\" are issued as: Review or Management report. For issues for fiscal year ending June 30, 2000-June 30, 2008, issues where audits are conducted \"in accordance with auditing standards generally accepted in the United States of America\" are issued as: Report on audit of the financial statements. For issues for fiscal year ending June 30, 2009-, issues where audits are conducted \"in accordance with auditing standards generally accepted in the United States of America\" are issued as: Annual financial report ... (including independent auditor's reports)","Issues for years ended \u003cJune 30, 1994 (released in 1995)\u003e-June 30, 1995 (released in 1996) issued by the State of Georgia, Dept. of Audits, years ended June 30, 1996 (released in 1997)- by the Dept. of Audits and Accounts.","Year ended June 30, 1994 (online surrogate); title from PDF title page (journal archive page, Georgia Government Publications database, viewed September 30, 2015).","Fiscal year ended June 30, 2014 (received via FTP 8/4/15 from Georgia Dept. of Audits and Accounts) (online surrogate) (Georgia Government Publications database, viewed September 3, 2015)."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Dept. of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Banks County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Banks County--Auditing--Periodicals.","Education--Georgia--Banks County--Finance--Statistics--Periodicals.","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Banks County Board of Education, Homer, Georgia, year ended June 30, 1995"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1994-h95"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1994-h95"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":["Periodicals--fast"],"fulltext":"GA A'i3oo \r\n.RI :2b B2 \r\nJ'IC)Y-C\\S \r\nC,.2- \r\nAUDIT REPORT BANKS COUNTY BOARD OF EDUCATION \r\nHOMER, GEORGIA YEAR ENDED JUNE 30, 1995 \r\n \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS \r\n254 WASHINGTON STREET \r\nATLANTA, GEORGIA 30334 \r\n \r\nRECEIVED \r\nMAY U6199\u0026 \r\n11DQOAOLUl8MROAOSIIII \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\nEXHIBITS \r\n \r\nGENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nCOMBINED STATEMENTS - OVERVIEW \r\n \r\nA \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\nALLFUNDTYPESANDACCOUNTGROUP \r\n \r\n2 \r\n \r\nB \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nALL GOVERNMENTAL FUND TYPES \r\n \r\n5 \r\n \r\nC \r\n \r\nSTATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES -BUDGET AND ACTUAL \r\n \r\n(NON-GAAP BASIS) \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n7 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n8 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING AND INDIVIDUAL FUND STATEMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nE \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n20 \r\n \r\nF \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n22 \r\n \r\nG \r\n \r\nFIDUCIARY FUND TYPE \r\n \r\nSTATEMENT OF CHANGES IN ASSETS AND LIABILITIES \r\n \r\nAGENCY FUND \r\n \r\n24 \r\n \r\nSCHEDULES \r\n \r\nI SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\n25 \r\n \r\n2 CASH AND CASH EQUIVALENTS \r\n \r\n27 \r\n \r\n3 ACCOUNTS RECEIVABLE \r\n \r\n28 \r\n \r\nSCHEDULE OF REVENUE \r\n \r\n4 \r\n \r\nSTATE FUNDS \r\n \r\n29 \r\n \r\n5 \r\n \r\nLOCAL AND OTHER FUNDS \r\n \r\n30 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nSCHEDULES \r\n \r\nSCHEDULE OF EXPENDITURES BY OBJECT \r\n \r\n6 \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\n31 \r\n \r\n7 \r\n \r\nLOTTERY PROGRAMS \r\n \r\n32 \r\n \r\nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \r\n \r\n8 \r\n \r\nOVERALL \r\n \r\n33 \r\n \r\n9 \r\n \r\nBY PROGRAM \r\n \r\n34 \r\n \r\n10 SCHEDULE OF COMPENSATION OF BOARD MEMBERS \r\n \r\n36 \r\n \r\nSECTION II \r\nCOMPLIANCE \r\nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \r\n \r\nSECTION III \r\nINTERNAL CONTROL \r\nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nSINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\nSECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nSECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\n \r\n SECTION I FINANCIAL \r\n \r\n CIAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nFebruary 12, 1996 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements (Exhibits A through D) of the Banks County Board of Education, as of and for the year ended June 30, 1995, as listed in the table of contents. These financial statements are the responsibility ofthe Board's management. Our responsibility is to express an opinion on these financial statements based on our audit. \r\nWe conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \r\nAs described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \r\n \r\n95ARL-13* \r\n \r\n * The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be . included to conform to generally accepted accounting principles. \r\n* School activity accounts maintained at the individual schools are not included in the general purpose :financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. \r\n* The Board did not recognize as expenditures, in the year ended June 30, 1995, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1995. Also funds received, subsequent to June 30, 1995, from the Georgia Department ofEducation for the State's share of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1994, were improperly recorded in the year ended June 30, 1995. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \r\nThe aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material. \r\nIn our opinion, except for the effects on the general purpose financial statements of the matters referred to in \r\nthe preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Banks County Board of Education as of June 30, 1995, and the results of its \r\noperations for the year then ended, in conformity with generally accepted accounting principles. In accordance \r\nwith Government Auditing Standards, we have also iss1:1ed a report dated February 12, 1996, on our consideration ofthe Board's internal control structure and a report dated February 12, 1996, on its compliance with laws and regulations. \r\nOur audit was conducted for the purpose of forming an opinion on the general purpose financial statements of the Banks County Board of Education taken as a whole. The combining and individual fund statements (Exhibits E through G) and the financial schedules (Schedules 1 through 10 which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part of the general purpose financial statements ofthe Banks County Board ofEducation. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. \r\n95ARL-13* \r\n \r\n A copy ofthis report has been filed as a pennanent record in the office ofthe State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \r\nRespectfully submitted, \r\n \r\nCLV:dt 95ARL-13* \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - 1- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\nCOMBINED BALANCE SHEET \r\nALL FUND TYPES AND ACCOUNT GROUP JUNE 30 1995 \r\n \r\nASSETS \r\nCash and Cash Equivalents \r\nAccounts Receivable \r\nInventories Food Donated Commodities Purchased Food \r\nAmount to be Provided in Future Years For Payment of Capital Lease Agreements \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\n$ 264,013.20 $ 214,456.52 \r\n \r\n$ \r\n \r\n58,616.91 \r\n \r\n51,725.27 \r\n \r\n4,449.18 1,864.26 \r\n \r\nTotal Assets \r\n \r\n$ \r\n \r\n58,616.91 $ 322,051.91 $ 214,456.52 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue Unearned Lottery Funds Funds Held for Others Capital Lease Agreements \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Bus Replacement Funds For Continuation of Federal Programs For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food \r\nUnreserved Deficit Undesignated \r\nTotal Fund Equity \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 211,891.61 \r\n$ \r\n \r\n19,646.10 41,073.66 \r\n3,479.62 $ \r\n \r\n181,900.78 32,555.74 \r\n \r\n$ 211,891.61 $ \r\n \r\n64,199.38 $ 214,456.52 \r\n \r\n$ \r\n \r\n43,470.59 \r\n \r\n$ \r\n \r\n38,017.02 \r\n \r\n2,037.71 \r\n \r\n4,449.18 1,864.26 \r\n \r\n$ \r\n \r\n81,487.61 $ \r\n \r\n8,351.15 \r\n \r\n-234,762.31 \r\n \r\n249,501.38 $ \r\n \r\n0.00 \r\n \r\n$ -153.274.70 $ 257,852.53 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n58,616.91 $ 322,051.91 $ 214,456.52 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -2 - \r\n \r\n EXHIBIT\"A\" \r\n \r\nFIDUCIARY FUND TYPE AGENCY FUND \r\n \r\n$ \r\n \r\n6,837.21 \r\n \r\nACCOUNT GROUP GENERAL \r\nLONG-TERM DEBT \r\n \r\nTOTALS (Memorandum On!}'.} JUNE 301 1995 JUNE 301 1994 \r\n \r\n$ 485,306.93 $ 452,664.94 \r\n \r\n110,342.18 \r\n \r\n136,270.42 \r\n \r\n4,449.18 1,864.26 \r\n \r\n5,140.51 3,669.07 \r\n \r\n$ \r\n \r\n82691.64 \r\n \r\n82,691.64 \r\n \r\n117,621.82 \r\n \r\n$ \r\n \r\n6,837.21 $ \r\n \r\n82,691.64 $ 684,654.19 $ 715,366.76 \r\n \r\n$ \r\n \r\n6,837.21 \r\n \r\n$ \r\n \r\n$ \r\n \r\n6,837.21 $ \r\n \r\n$ \r\n82,691.64 82,691.64 $ \r\n \r\n211,891.61 19,646.10 $ 41,073.66 3,479.62 \r\n181,900.78 32,555.74 \r\n6,837.21 82,691.64 \r\n580,076.36 $ \r\n \r\n10,946.08 40,940.74 \r\n22.10 \r\n40,620.56 170.25 \r\n12,225.83 117,621.82 \r\n222,547.38 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n6,837.21 $ \r\n \r\n$ \r\n \r\n43,470.59 $ \r\n \r\n38,342.28 \r\n \r\n2,037.71 \r\n \r\n38,017.02 \r\n \r\n38,017.02 \r\n \r\n4,449.18 1,864.26 \r\n \r\n$ \r\n \r\n89,838.76 $ \r\n \r\n-234,762.31 249,501.38 \r\n \r\n$ 104,577.83 $ \r\n \r\n5,140.51 3,669.07 85,168.88 \r\n407,650.50 492,819.38 \r\n \r\n82,691.64 $ 684,654.19 $ 715,366.76 \r\n \r\n-3 - \r\n \r\n THIS PAGE LEFT BLAHK \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES \r\nALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30. 1995 \r\n \r\nEXHIBIT \"B\" \r\n \r\nREVENUES \r\nState Funds Federal Funds Local and Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Operations Other Operations of Non-Instructional Services \r\nCapital Outlay Debt Service \r\nPrincipal Interest \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES {USES} \r\nCapital Leases Operating Transfers In Operating Transfers Out \r\nTotal Other Financing Sources (Uses) \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JULY 1 \r\nFood Inventory - Net Change in Period Donated Commodities \r\nPurchased Food \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nTOTALS {Memorandum Onl~) \r\nYEAR ENDED JUNE 30, 1995 JUNE 30, 1994 \r\n \r\n$ 4,512.381.90 $ 24,234.06 \r\n2,600,099.64 \r\n \r\n110.400.29 664,559.04 228,844.55 $ \r\n \r\n$ 7,136,715.60 $ 1,003,803.88 $ \r\n \r\n$ 50,501.78 \r\n \r\n4,622,782.19 $ 688,793.10 \r\n2,879,445.97 \r\n \r\n4,391,363.17 646,743.16 \r\n2,481,426.89 \r\n \r\n50,501.78 $ 8,191,021.26 $ 7,519,533.22 \r\n \r\n$ 4,243,743.03 $ 298,224.99 \r\n \r\n176,129.42 139,437.08 208,378.31 145,838.32 392,447.59 \r\n43,335.22 604,032.64 459,346.37 \r\n9,773.00 33,647.22 \r\n32,119.28 60,135.85 26,041.00 \r\n \r\n34,072.39 6,522.20 \r\n38,397.20 17,349.04 \r\n2,800.00 120.00 \r\n607,730.96 \r\n$ \r\n \r\n34,930.18 4 707.39 \r\n \r\n$ 6,614,041.90 $ 1,005,216.78 $ \r\n \r\n$ 522,673.70 $ \r\n \r\n-1,412.90 $ \r\n \r\n$ 4,541,968.02 $ 4,269,923.45 \r\n \r\n957,507.99 \r\n \r\n210,201.81 145,959.28 246,775.51 163,187.36 395,247.59 \r\n43,335.22 604,152.64 459,346.37 \r\n9,773.00 33,647.22 607,730.96 32,119.28 60,135.85 983,548.99 \r\n \r\n189,983.29 140,853.54 254,494.42 140,065.28 410,211.06 \r\n39,747.48 540,004.95 456,158.81 \r\n8,633.70 27,211.17 614,599.69 19,672.48 55,575.60 742,853.33 \r\n \r\n34,930.18 4 707.39 \r\n \r\n43,068.99 5,872.21 \r\n \r\n957,507.99 $ 8.576,766.67 $ 7,958,929.45 \r\n \r\n-907,006.21 $ -385,745.41 $ -439,396.23 \r\n \r\n$ $ -909,184.07 \r\n$ -909,184.07 $ \r\n \r\n2,177.86 $ 2,177.86 $ \r\n \r\n907,006.21 $ 907,006.21 $ \r\n \r\n$ 909,184.07 -909,184.07 \r\n0.00 $ \r\n \r\n86,333.29 743,199.00 -743,199.00 \r\n86,333.29 \r\n \r\n$ -386,510.37 $ 233,235.67 \r\n \r\n764.96 $ 259,583.71 \r\n \r\n0.00 $ 0.00 \r\n \r\n-385,745.41 $ 492,819.38 \r\n \r\n-353,062.94 847,273.76 \r\n \r\n-691.33 -1,804.81 \r\n \r\n-691.33 -1,804.81 \r\n \r\n-3,167.34 1 775.90 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ -153,274.70 $ 257,852.53 $ \r\n \r\n0.00 $ \r\n \r\n104,577.83 $ \r\n \r\n492,819.38 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -5- \r\n \r\n THIS PAGE LEFT BLAHK \r\n \r\n BANKS COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES \r\nBUDGET AND ACTUAL - (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS \r\nYEAR ENDED JUNE 30. 1995 \r\n \r\nEXHIBIT\"C\" \r\n \r\nREVENUES \r\nState Funds Federal Funds Local and Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Operations Other Operations of Non-Instructional Services \r\nCapital Outlay Debt Service \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nOther Sources Other Uses \r\nTotal Other Financing Sources (Uses) \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JULY 1. 1994 \r\n \r\nGENERAL FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS} \r\n \r\n$ 4,498,683.00 $ 4,512,381.90 24,234.06 \r\n2,747,008.00 2,600,099.64 \r\n$ 7,245,691.00 $ 7,136,715.60 \r\n \r\n$ 4,182,079.05 $ 4,243,743.03 \r\n \r\n183,234.00 140,124.00 275,923.76 143,461.00 446,473.00 47,458.00 568,025.00 534,199.00 \r\n10,000.00 18,470.00 \r\n \r\n176,129.42 139,437.08 208,378.31 145,838.32 392,447.59 43,335.22 604,032.64 459,346.37 \r\ns,n3.oo 33,647.22 \r\n \r\n63,667.00 \r\n \r\n32,119.28 60,135.85 26,041.00 39,637.57 \r\n \r\n$ 6,613,113.81 $ 6,614,041.90 \r\n \r\n$ 632,5n.19 $ 522,673.70 \r\n \r\n$ -911,000.00 $ $ -911,000.00 $ \r\n \r\n-909, 184.07 -909, 184 .07 \r\n \r\n$ -278,422.81 $ -386,510.37 \r\n \r\n305,550.34 \r\n \r\n233,235.67 \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS} \r\n \r\n$ 33,936.00 $ 110,400.29 \r\n \r\n593,430.00 \r\n \r\n664,559.04 \r\n \r\n203,620.00 \r\n \r\n228,844.55 \r\n \r\n$ 830,986.00 $ 1,003,803.88 \r\n \r\n$ 256,235.00 $ 298,224.99 \r\n \r\n24,107.00 500.00 \r\n17,481.00 \r\n \r\n34,072.39 6,522.20 \r\n38,397.20 17,349.04 2,800.00 \r\n \r\n120.00 \r\n \r\n150.00 598,803.00 \r\n \r\n607,730.96 \r\n \r\n$ 897,276.00 $ 1,005,216.78 $ -66,290.00 $ -1,412.90 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n2,1n.86 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n2,1n.86 \r\n \r\n$ -66,290.00 $ \r\n \r\n764.96 \r\n \r\n256,073.90 \r\n \r\n2so,n4.13 \r\n \r\nFUND BALANCE JUNE 30. 1995 \r\n \r\n$ 27,127.53 $ -153,274.70 \r\n \r\n$ 189,783.90 $ 251,539.09 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -7- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nThe Banks County Board ofEducation (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board and Superintendent, both elected by the voters. With the exception ofthe departures from generally accepted accounting principles disclosed in these notes, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards. \r\nThe more significant of the Board's accounting policies are described below. \r\nREPORTING ENTITY \r\nIn evaluating how to define the government unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, \"Defining the Financial Reporting Entity\". The primary government consists of all the organizations that compose the legal entity of the Banks County Board ofEducation. \r\nBased upon the application of the above criteria, the Banks County Board ofEducation is determined to be the lowest level of government exercising oversight responsibility and control over all activities related to public education in Banks County, Georgia. The Board is not included in any other governmental \"reporting entity\" as defined by GASB Codification of Governmental Accounting and Financial Reporting Standards. \r\nBoard members were elected by the public and have decision making authority, the power to designate management, except for the Superintendent who was also elected, the ability to significantly influence operations, and primary accountability for fiscal matters. The Board determines the millage rate at which school taxes are levied and may incur bonded indebtedness with voter approval. \r\nFUND ACCOUNTING \r\nThe Board uses funds and an account group to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. \r\nA fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \r\nGeneral Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \r\n \r\n- 8- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXIDBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \r\nThe general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \r\nGOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's general activities. Governmental Fund Types include: \r\nGENERAL FUND - the fund used to account for all financial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. \r\nSPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund; however, the Board chooses not to provide for depreciation, but to maintain the fund on a modified accrual basis and to report the fund as a special revenue fund under governmental fund types, which is acceptable under generally accepted accounting principles for governmental entities. \r\nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. \r\nFIDUCIARY FUND TYPE - the agency fund used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. \r\nAGENCY FUND - the fund used to account for assets held for another government. \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for material capital lease obligations. \r\n \r\n- 9- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nBASIS OF ACCOUNTING \r\nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. \r\nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \r\nAgency funds are purely custodial in nature and do not involve measurement of results of operations. \r\nGovernmental funds are accounted for using the modified accrual basis of accounting under which: \r\nRevenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). \"Measurable\" means the amount ofthe transaction can be determined and \"available\" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Property taxes are considered available if they are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end. \r\nExpenditures are generally recognized when the related fund liability is incurred. \r\nA departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share ofthese contracts. During fiscal year 1995, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1994 and ending in early June 1995. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1994 and ending in August 1995. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As ofJune 30, 1995, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1995, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1995. Also, the State's portion of the compensation paid in July and August 1995 was received and recorded as revenue in the fiscal year subsequent to June 30, 1995. Conversely, the similar expenditures and elated revenues for contractual services completed prior to June 30, 1994, were recorded in the year ended June 30, 1995. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \r\n- 10 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nBUDGET \r\n \r\nThe Banlcs County Board ofEducation's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function, and object. The legal level ofbudget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. \r\n \r\nThe budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year end. \r\n \r\nThe Statement ofRevenues, Expenditures and Changes in Fund Balances - Budget and Actual presents actual and budgeted data for the General Fund and Special Revenue Fund. To facilitate comparison with the budget, the following adjustments have been made to actual revenues, expenditures and fund balance as reflected on Exhibit \"B\" of this report: \r\n \r\nExcess of Revenues and Other Sources of Financial Resources over (under) Expenditures and Other Financing Uses \r\nFund Balance July 1, 1994 \r\nAdjustments: Inventories July 1, 1994 Food Donated Commodities Purchased Foods \r\nFund Balance June 30, 1995 (Budget Basis) \r\n \r\nSpecial Revenue \r\nFund \r\n \r\n$ \r\n \r\n764.96 \r\n \r\n259,583.71 \r\n \r\n-5,140.51 -3,669.07 \r\n$ 251,539.09 \r\n \r\n- 11 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nCASH AND CASH EQUIVALENTS \r\n \r\nCOMPOSITION OF DEPOSITS \r\nCash and cash equivalents consist of deposits (including certificates of deposit, savings accounts and N. 0.W. \r\naccounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement ofproceeds from bond issues in certificates of deposit is limited to financial  institutions located within this State. \r\n \r\nRECEIVABLES \r\n \r\nReceivables consist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \r\n \r\nPROPERTY TAXES \r\n \r\nThe Banks County Board of Commissioners fixed the property tax levy for the 1994 tax year (calendar year) on September 19, 1994 (levy date). Taxes were due on December 20, 1994. The lien date for property taxes was January 1, 1994. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1995 since their collection meets the criteria of GASB codification section P70.103. The Banks County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection, and remits the balance of taxes collected to the Board. \r\n \r\nTax millage rates levied for the 1994 tax year (calendar year) for the Banks County Board of Education were as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n10.5 mills \r\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost. Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which indicates that these amounts do not constitute \"available spendable resources\" even though they are a component of net current assets. \r\n \r\n- 12 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nINTERFUND TRANSACTIONS \r\nThe Board has the following types of interfund transactions: \r\nReimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. \r\nOperating transfers are recorded for all interfund transactions other than reimbursements. \r\nMEMORANDUM ONLY - TOTAL COLUMNS \r\nTotal columns on the general purpose financial statements are captioned \"Memorandum Only\" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Certain reclassifications have been made to the comparative data to conform to the current year classifications. \r\nNote 2: DEPOSITS \r\nCOLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate of the face value of such surety bond and the market value ofsecurities shall be equal to not less than 110 percent of the public funds being secured after the deduction of the amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \r\nAcceptable security for deposits consists of any one of or any combination of the following: \r\n( 1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \r\n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \r\n(3) Bonds, bills, notes, certificates ofindebtedness or other direct obligations of the United States or of the State of Georgia, \r\n(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities ofthe State of Georgia, \r\n- 13 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXIIlBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 2: DEPOSITS \r\n \r\n(5) Bonds ofany public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use ofthe bonds for this purpose, \r\n \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and \r\n \r\n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \r\n \r\nCATEGORIZATION OF DEPOSITS At June 30, 1995, the bank balances were $797,587.68. The amounts of the total bank balances are classified into three categories of credit risk: \r\n \r\nCategory I - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \r\n \r\nThe Board's deposits are classified by risk category at June 30, 1995, as follows: \r\nRisk Category \r\n1 2 3 \r\nTotal \r\nNote 3: NON-MONETARY TRANSACTIONS \r\n \r\nBank Balance \r\n$ 100,000.00 697,587.68 0.00 \r\n$ 797,587 68 \r\n \r\nThe Board receives food commodities from the United States Department of Agriculture (USDA) for school \r\nbreakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \r\n \r\n- 14 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 4: RISK MANAGEMENT \r\n \r\nThe Board is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illnesses or injuries to employees; natural disaster; and unemployment compensation. \r\n \r\nThe Board has obtained commercial insurance for risk of loss associated with torts, assets, errors and omissions and natural disaster. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years. \r\n \r\nThe Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the General Fund with expenditures and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. \r\n \r\nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \r\n \r\nBeginning of Year Liability \r\n \r\nClaims and Changes in Estimates \r\n \r\nClaims Paid \r\n \r\nEnd of Year Liability \r\n \r\n1994 1995 \r\n \r\n$ \r\n \r\n15.00 $ \r\n \r\n5,101.00 $ \r\n \r\n2,605.00 $ \r\n \r\n2,5 I 1.00 \r\n \r\n$ \r\n \r\n2,511.00 $ \r\n \r\n3,402.00 $ \r\n \r\n5,481.00 $ \r\n \r\n432.00 \r\n \r\nThe Board participates in the Georgia Education and Government Workers' Compensation Trust, a public entity risk pool organized on December 1, 1991 to develop, implement, and administer a program of workers' compensation self-insurance for its member organizations. The Board pays an annual premium to the Fund for its general insurance coverage. Additional insurance coverage is provided through an agreement by the Fund with the Continental Insurance Company to provide coverage for potential losses sustained by the Fund in excess of $250,000.00 loss per occurrence, up to $1,000,000.00. \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCAPITAL LEASES The Banks County Board ofEducation has entered into various lease agreements as lessee for school buses and office equipment. These lease agreements qualify as capital leases for accounting purposes and, therefore, \r\nhave been recorded at the present value ofthe future minimum lease payments as of the date of their inception. \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1995, were as follows: \r\n \r\n- 15 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCapital Leases \r\n \r\nBalance July 1, 1994 \r\n \r\n$ 117,621.82 \r\n \r\nAdditions \r\n \r\n0.00 \r\n \r\nDeletions \r\n \r\n34,930.18 \r\n \r\nBalance June 30, 1995 \r\n \r\n$ 82,691.64 \r\n \r\nAt June 30, 1995, payments due, by fiscal year which includes principal and interest for these items are as follows: \r\n \r\nFiscal Year Ended June 30 \r\n \r\nCapital Leases \r\n \r\n1996 1997 1998 1999 \r\n \r\n$ 39,837.91 22,117.23 17,810.65 17,610.27 \r\n \r\nTotal Principal and Interest \r\n \r\n$ 97,376.06 \r\n \r\nDeduct: Imputed Interest \r\n \r\n14,684.42 \r\n \r\nNet Present Value ofFuture Minimum Lease Payments \r\n \r\n$ 82,691.64 \r\n \r\nNote 6: SIGNIFICANT COMMITMENTS \r\n \r\nThe following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1995. \r\n \r\nProject \r\n \r\nUnearned Executed Contracts \r\n \r\nBanks County Primary School - Classroom Additions \r\n \r\n$ 442,459 71 \r\n \r\nThe amount described in this note is not reflected in the general purpose financial statements. \r\n \r\n- 16 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 7: CONTINGENT LIABILITIES \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \r\nNote 8: RETIREMENT PLANS \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS). \r\nTRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. A member is eligible for service retirement after 30 years of creditable service, regardless ofage, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \r\nRetirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death. \r\nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest. \r\nThe Board's payroll for employees covered by TRS for the year ended June 30, 1995, was $3,996,330.64; total payroll was $4,700,124.23. \r\nTRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board ofTrustees in accordance with State statute and as advised by their independent actuary. For fiscal year \r\n \r\n- 17 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 8: RETIREMENT PLANS \r\n \r\n1995 that rate for employer contributions was 11.81%. The interest rate assumption (rate of return on investments) was 7.50%. \r\n \r\nTotal contributions made during fiscal year 1995 amounted to $671,809.22, of which $471,967.34 was made \r\nby the Board and $199,841.88 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll. \r\n \r\nTRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers. \r\n \r\nTotal unfunded pension benefit obligation ofTRS as of June 30, 1994, was as follows: \r\n \r\nTotal pension benefit obligation \r\n \r\n$15,313,743,000.00 \r\n \r\nNet assets available for benefits, at cost \r\n \r\n14,254,785,000.00 \r\n \r\nUnfunded pension benefit obligation \r\n \r\n$ 1,058,958,000.00 \r\n \r\nThe measurement ofthe total pension benefit obligation is based on an actuarial valuation as of June 30, 1994. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers. \r\n \r\nTotal contributions from all employers to TRS for fiscal year ended June 30, 1995 were $565,117,811.00. The Board's contribution for the year ended June 30, 1995 of $471,967.34 was actuarially determined and represented .0835% of total contributions made by all participating employers. \r\n \r\nTen year historical trend information is presented in the 1995 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due. \r\n \r\n- 18 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXIIlBIT D 11 11 \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 8: RETIREMENT PLANS \r\nPUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS) \r\nPSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System of Georgia (PSERS). All employer's contributions are made by the State of Georgia in accordance with State statute. \r\nPSERS provides in accordance with State statute service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years of service and attainment ofage 65. A member applying for service retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number ofyears of creditable service. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \r\nRetirement provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent upon the number ofyears of service. Ifthere are less than ten years of service, a lump sum refund of the employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life half of what the employee would have received upon retirement. \r\nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest. \r\nThere were 60 employees covered under PSERS for the year ended June 30, 1995. \r\nPSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1995 amounted to $2,024.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1995, was $9,162,000.00. \r\nNote 9: SURETY BONDS \r\nThe School Superintendent, Mr. Dock Sisk, is bonded in the amount of$25,000.00 with the State Farm Fire and Casualty Company, Bloomington, Illinois, their Bond No. 91-11-3332-9, on which premium is paid through January I, 1996. \r\n \r\n- 19 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1995 \r\n \r\nASSETS \r\nCash and Cash Equivalents \r\nAccounts Receivable \r\nInventories Food Donated Commodities Purchased Food \r\n \r\nELEMENTARY \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nCHAPTER 1 EDUCATION OF \r\nDEPRIVED CHILDREN \r\n \r\n$ \r\n \r\n263,042.47 \r\n \r\n$ \r\n \r\n737.'20 \r\n \r\n13,982.67 $ \r\n \r\n4,400.00 \r\n \r\n23,971.00 \r\n \r\n4,449.18 1,864.26 \r\n \r\nTotal Assets \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue Unearned Lottery Funds \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food \r\nUnreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ \r\n \r\n283,338.58 $ \r\n \r\n4,400.00 $ =====24=,70=8=.'2=0 \r\n \r\n$ \r\n \r\n$ \r\n \r\n5,445.58 \r\n \r\n22,078.78 \r\n \r\n4,400.00 $ \r\n \r\n4,560.34 16,687.64 3,460.22 \r\n \r\n$ \r\n \r\n27,524.36 $ \r\n \r\n4,400.00 $ \r\n \r\n24,708.'20 \r\n \r\n$ \r\n \r\n4,449.18 \r\n \r\n1,864.26 \r\n \r\n$ \r\n \r\n6,313.44 \r\n \r\n249,500.78 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n255,814.22 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ \r\n \r\n283,338.58 $ \r\n \r\n4,400.00 $ \r\n \r\n24,708.'20 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-20- \r\n \r\n EXHIBIT\"E\" \r\n \r\nAND SECONDARY EDUCATION ACT \r\n \r\nTITLE II- \r\n \r\nEISENHOWER \r\n \r\nCHAPTER2 \r\n \r\nMATHEMATICS \r\n \r\nBLOCK GRANT - AND SCIENCE \r\n \r\nFLOW THROUGH EDUCATION \r\n \r\nINDIVIDUALS WITH \r\n \r\nDISABILITIES EDUCATION ACT \r\n \r\nTITLE VI, B \r\n \r\nFLOW \r\n \r\nPRESCHOOL \r\n \r\nTHROUGH \r\n \r\nPROGRAM \r\n \r\nTOTALS JUNE 30, 1995 JUNE 30, 1994 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n2,037.71 $ \r\n \r\n2,595.82 $ \r\n \r\n0.00 $ \r\n \r\n268,413.20 $ \r\n \r\n284,552.87 \r\n \r\n9,371.60 \r\n \r\n51,725.27 \r\n \r\n59,253.17 \r\n \r\n4,449.18 1,864.26 \r\n \r\n5,140.51 3,669.07 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n2,037.71 $ \r\n \r\n11,967.42 $ \r\n \r\n0.00 $ \r\n \r\n326,451.91 $ \r\n \r\n352,615.62 \r\n \r\n$ \r\n \r\n9,640.18 \r\n \r\n2,307.24 \r\n \r\n19.40 \r\n \r\n$ \r\n \r\n11,966.82 \r\n \r\n$ \r\n \r\n4,400.00 $ \r\n \r\n332.18 \r\n \r\n19,646.10 \r\n \r\n10,946.08 \r\n \r\n41,073.66 \r\n \r\n40,940.74 \r\n \r\n3,479.62 \r\n \r\n22.10 \r\n \r\n40,620.56 \r\n \r\n170.25 \r\n \r\n$ \r\n \r\n68,599.38 $ \r\n \r\n93,031.91 \r\n \r\n$ \r\n \r\n2,037.71 \r\n \r\n$ \r\n \r\n2,037.71 \r\n \r\n4,449.18 $ 1,864.26 \r\n \r\n5,140.51 3,669.07 \r\n \r\n$ \r\n \r\n2,037.71 \r\n \r\n$ \r\n \r\n8,351.15 $ \r\n \r\n8,809.58 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n0.00 $ \r\n \r\n0.60 $ \r\n \r\n0.00 \r\n \r\n249,501.38 \r\n \r\n250,n4.13 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n2,037.71 $ \r\n \r\n0.60 $ \r\n \r\n0.00 $ \r\n \r\n257,852.53 $ \r\n \r\n259,583.71 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n2,037.71 $ \r\n \r\n11,967.42 $ \r\n \r\n0.00 $ \r\n \r\n326,451.91 $ \r\n \r\n352,615.62 \r\n \r\n- 21 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES \r\nSPECIAL REVENUE FUND YEAR ENDED JUNE 30. 1995 \r\n \r\nREVENUES \r\nState Funds Federal Funds Local and Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services Food Services Operation \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nOperating Transfers In \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures \r\nFUND BALANCE JULY 1 \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nELEMENTARY \r\nCHAPTER 1 EDUCATION OF \r\nDEPRIVED CHILDREN \r\n \r\n$ \r\n \r\n33,936.00 $ \r\n \r\n343,an.06 \r\n \r\n228,844.55 \r\n \r\n$ \r\n \r\n606,457.61 $ \r\n \r\n76,464.29 $ \r\n76,464.29 $ \r\n \r\n215,990.78 215,990.78 \r\n \r\n$ \r\n \r\n37,444.95 $ \r\n \r\n209,932.05 \r\n \r\n38,397.20 2,800.00 \r\n \r\n6,058.73 \r\n \r\n$ \r\n \r\n607,730.96 \r\n \r\n$ \r\n \r\n607,730.96 $ \r\n \r\n$ \r\n \r\n-1,273.35 $ \r\n \r\n78,642.15 $ -2,1n.86 $ \r\n \r\n215,990.78 0.00 \r\n \r\n2,1n.86 \r\n \r\n$ \r\n \r\n-1,273.35 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n259,583.71 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n-691.33 -1,804.81 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ \r\n \r\n255,814.22 $ \r\n \r\n0.00 $ =====0.0=0 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 22- \r\n \r\n EXHIBIT\"P' \r\n \r\nAND SECONDARY EDUCATION ACT \r\n \r\nTITLE II- \r\n \r\nEISENHOWER \r\n \r\nCHAPTER2 \r\n \r\nMATHEMATICS \r\n \r\nBLOCK GRANT - \r\n \r\nAND SCIENCE \r\n \r\nFLOW THROUGH \r\n \r\nEDUCATION \r\n \r\nINDIVIDUALS WITH \r\n \r\nDISABILITIES EDUCATION ACT \r\n \r\nTITLE VI, B \r\n \r\nFLOW \r\n \r\nPRESCHOOL \r\n \r\nTHROUGH \r\n \r\nPROGRAM \r\n \r\nTOTALS \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 1995 \r\n \r\nJUNE 30, 1994 \r\n \r\n$ \r\n \r\n10,007.00 $ \r\n \r\n$ \r\n \r\n10,007.00 $ \r\n \r\n7,000.00 $ \r\n \r\n80,184.20 $ \r\n \r\n7,000.00 $ \r\n \r\n80,184.20 $ \r\n \r\n$ \r\n7,700.00 \r\n7,700.00 $ \r\n \r\n110,400.29 $ 664,559.04 228,844.55 \r\n \r\n128,753.36 630,382.89 207,245.88 \r\n \r\n1,003,803.88 $ _ _966-',_3_8_2_.1_3 \r\n \r\n$ \r\n \r\n9,982.73 \r\n \r\n$ 24.27 \r\n \r\n$ \r\n \r\n10,007.00 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n$ \r\n4,947.20 15.09 \r\n \r\n33,165.26 $ 34,072.39 \r\n1,575.00 11,250.95 \r\n120.00 \r\n \r\n4,962.29 $ 2,037.71 $ \r\n \r\n80,183.60 $ 0.60 $ \r\n \r\n7,700.00 $ \r\n7,700.00 $ 0.00 $ \r\n \r\n298,224.99 $ \r\n34,072.39 6,522.20 \r\n38,397.20 17,349.04 2,800.00 \r\n120.00 \r\n607,730.96 \r\n1,005,216.78 $ \r\n-1,412.90 $ \r\n \r\n326,608.66 \r\n27,201.75 7,264.56 32,179.44 6,659.47 \r\n99.75 5,000.00 12,970.00 \r\n465.65 614,599.69 \r\n1,033,048.97 \r\n-66,666.84 \r\n \r\n2,037.71 $ 0.00 \r\n \r\n0.60 $ 0.00 \r\n \r\n0.00 $ 0.00 \r\n \r\n2,177.86 \r\n \r\n345.67 \r\n \r\n764.96 $ 259,583.71 \r\n \r\n-66,321.17 327,296.32 \r\n \r\n-691.33 -1,804.81 \r\n \r\n-3,167.34 1,ns.90 \r\n \r\n2,037.71 $ \r\n \r\n0.60 $ \r\n \r\n0.00 $ \r\n \r\n257,852.53 $ ====25=9,5=83=.71= \r\n \r\n-23- \r\n \r\n PUBLIC LIBRARY FUND ASSETS \r\nCash and Cash Equivalents \r\nLIABILITIES Funds Held for Others \r\n \r\nBANKS COUNTY BOARD OF EDUCATION \r\nSTATEMENT OF CHANGES IN ASSETS AND LIABILITIES FIDUCIARY FUND TYPE - AGENCY FUND YEAR ENDED JUNE 30. 1995 \r\n \r\nEXHIBIT\"G\" \r\n \r\nBALANCE JULY1, 1994 \r\n \r\nADDITIONS \r\n \r\nBALANCE DEDUCTIONS JUNE 30, 1995 \r\n \r\n$ \r\n \r\n121225.83 $ \r\n \r\n321404.20 $ \r\n \r\n37?92.82 $ \r\n \r\n61837.21 \r\n \r\n$ \r\n \r\n37?92.82 $ ___6..1.83_7._2_1 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 24- \r\n \r\n l,'iANKS QQ!,!N'TY aQARQ OF EQUQATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nYEAR ENDEQ JUNE 30 1995 \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\nAgriculture, U. S. Department of Through Georgia Department of Administrative Services, Fiscal Division National Forest Reserve Funds Through Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1994 Grant 1995 Grant National School Lunch Program 1994 Grant 1995 Grant National Education and Training Program 1995 Contract \r\nFood Distribution Program (1) \r\nTotal U. S. Department of Agriculture \r\nEducat~n.u.s. Department of \r\nor Through Georgia Department Education \r\nElementary and Secondary Education Act Chapter 1 Educat~n of Deprived Children 1994 Regular 1994 carry-Oller 1995 Regular Chapter2 Block Grant - FIOIN Through 1995 Regular TIiie II Eisenhower Mathematics and Science Education 1995 Regular \r\nIndividuals with Disabilities Education Act TllleVI, B Flow Through 1994 Regular 1994 carry-Over 1995 Regular Preschool Program 1995 Regular \r\nVocational Education - Basic Grants to States High School Program Basic Grant 1994 Grant 1995 Grant Research and Curriculum Development 1995 Grant Consumer and Homemaking Educat~n 1994 Contract 1995 Contract \r\nThrough P~neer Regional Educational Service Agency \r\nearl Perkins Vocat~nal and Applied Technology \r\nEducat~n Act of 1990-Applied Curriculum 1994 Grant \r\nTotal U. S. Department of Education \r\n \r\nCFDA NUMBER \r\n \r\nAWARDS IN PERIOD \r\n \r\nFEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n10.665 $ \r\n \r\n251.37 $ \r\n \r\n251.37 $ \r\n \r\n251.37 \r\n \r\n(5) \r\n \r\n10.553 10.553 \r\n \r\n85,531.97 \r\n \r\n10.555 10.555 \r\n \r\n215,852.74 \r\n \r\n10.564 10.550 \r\n \r\n5,000.00 37,292.35 \r\n \r\n$ 343,928.43 $ \r\n \r\n5,646.46 80,025.93 \r\n \r\n85,531.97 \r\n \r\n5,960.39 215,714.75 \r\n \r\n215,852.74 $ \r\n \r\n5,000.00 NIA \r\n \r\n5,000.00 37,292.35 \r\n \r\n312 598.90 $ 343,928.43 $ \r\n \r\n(2) \r\n570,438.61 (3) (2) 37,292.35 \r\n607,730.96 \r\n \r\n84.010 84.010 $ 84.010 \r\n \r\n$ 4,180.00 215,271.00 \r\n \r\n84.151 \r\n \r\n10,007.00 \r\n \r\n84.164 \r\n \r\n7,000.00 \r\n \r\n19,074.14 4,180.00 $ \r\n191,300.00 \r\n \r\n4,180.00 $ 211,810.78 \r\n \r\n4,180.00 211,810.78 \r\n \r\n10,007.00 \r\n \r\n10,007.00 \r\n \r\n10,007.00 \r\n \r\n7,000.00 \r\n \r\n7,000.00 \r\n \r\n4,962.29 \r\n \r\n84.027 84.027 84.027 \r\n84.173 \r\n \r\n12,655.00 70,794.00 \r\n7,700.00 \r\n \r\n840.11 12,655.00 58,177.00 \r\n7,700.00 \r\n \r\n12,655.00 67,529.20 \r\n7,700.00 \r\n \r\n12,655.00 67,528.60 \r\n7,700.00 \r\n \r\n84.048 84.048 84.048 \r\n84.049 \r\n \r\n10,550.00 12,932.69 \r\n500.00 \r\n \r\n980.00 \r\n \r\n7,106.00 \r\n \r\n10,550.00 \r\n \r\n(4) \r\n \r\n10,258.90 \r\n \r\n12,932.69 \r\n \r\n(4) \r\n \r\n500.00 500.00 \r\n \r\n500.00 \r\n \r\n(4) \r\n \r\n84.048 $ 351,589.69 $ \r\n \r\n10 554.00 340,832.15 $ 344 864.67 $ \r\n \r\n318 843.67 \r\n \r\nTotal Federal Financial Assistance \r\n \r\n$ 695,518.12 $ \r\n \r\n653 431.05 $ 688 793.10 $ \r\n \r\nThe Board had no major programs as defined by the Single Audit Act of 1984. \r\n(1) The amounts shown for the Food Distribut~n Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. \r\n(2) Expenditures for the School Breakfast Program and the National Education and Training Program were not maintained separately and are included in the 1995 National School Lunch Program. \r\n(3) Expenditures for this program include State, and/or Local and other Funds. Expenditures are not maintained by fl,lnd source. \r\n(4) Expenditures on this program were not maintained by fund source. (5) Funds earned on this program do not require reporting of expenditures. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 25 - \r\n \r\n926 574.63 \r\n \r\n THIS PAGE LEFT BLANK \r\n \r\n BANKS COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30, 1995 \r\nINTEREST BEARING ACCOUNTS \r\nBank of Banks County, Homer, Georgia \r\nCertificate of Deposit No. 1351 (5.33%) Money Market Account (2.45%) N.O.W. Accounts (2.35%) \r\n \r\nSCHEDULE \"2\" \r\n$ 107,476.24 5,466.62 \r\n160,472.46 $ 273,415.32 \r\n \r\nSee notes to the general purpose financial statements. - 27 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE \r\nJUNE 30. 1995 \r\n \r\nSCHEDULE \"3\" \r\n \r\nThe Arts Council. Incorporated Reimbursement for Grassroots Arts Program \r\nBanks County Tax Commissioner County Wide School Tax \r\nBanks County Primary School Reimbursement for After School Program Reimbursement for Expenses \r\nEducation. Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education State Funds Federal Funds Lottery Program Distant Leaming Federal Programs ESEA - Chapter 1 Education of Deprived Children Individuals with Disabilities Education Act Title VI. B - Flow Through \r\nNinth District Opportunity. Incorporated Reimbursement for Expenses \r\nVarious Sources Uniform Expense \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n1.340.00 \r\n \r\n$ \r\n \r\n1,340.00 \r\n \r\n42,635.50 \r\n \r\n42,635.50 \r\n \r\n37.06 406.92 \r\n \r\n37.06 406.92 \r\n \r\n$ \r\n8,070.19 6,117.79 \r\n9.45 \r\n \r\n5,506.04 \r\n137.99 \r\n4,400.00 \r\n23,971.00 9,371.60 \r\n8,338.64 \r\n \r\n5,506.04 \r\n137.99 8,070.19 6,117.79 \r\n4,400.00 \r\n23,971.00 9,371.60 \r\n8,338.64 \r\n9.45 \r\n \r\n$ \r\n \r\n58,616.91 $ \r\n \r\n51,725.27 $ ==1==1==0'=34=2==.1=8 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 28 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 1995 \r\n \r\nSCHEDULE \"4\" \r\n \r\nAGENCY/FUNDING \r\nGRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Sparsity Grant Middle School Incentive School Counselors Special Instructional Assistance Superintendent's Base Salary In-School Suspension Mid-term Adjustment Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs At-Risk Summer School Innovative Programs Preschool Handicapped Program Remedial Summer School Teachers' Retirement Lottery Programs Instructional Technology Distant Leaming Media Center and Library Equipment Safe Schools Grant \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 3,013,652.00 491,167.00 55,619.00 127,512.00 41,517.00 878,978.00 \r\n2n,731.oo 90,503.00 60,134.00 130,969.00 19,971.00 40,661.00 14,082.00 69,290.00 94,015.00 \r\n-1,074,960.00 19,767.00 $ \r\n126,334.97 \r\n5,929.21 3,600.00 15,536.00 1,254.43 9,119.29 \r\n \r\n$ 3,013,652.00 491,167.00 55,619.00 127,512.00 41,517.00 878,978.00 \r\n \r\n33,936.00 \r\n \r\n277,731.00 90,503.00 60,134.00 \r\n130,969.00 19,971.00 40,661.00 14,082.00 69,290.00 94,015.00 -1,074,960.00 19,767.00 33,936.00 126,334.97 \r\n \r\n5,929.21 3,600.00 15,536.00 1,254.43 9,119.29 \r\n \r\n30,513.78 5,329.95 \r\n37,820.56 2,800.00 \r\n \r\n30,513.78 5,329.95 \r\n37,820.56 2 800.00 \r\n \r\n$ 4,512,381.90 $ 110,400.29 $ 4,622,782.19 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 29 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE \r\nYEAR ENDED JUNE 30, 1995 \r\n \r\nSCHEDULE 5 \r\n \r\nTaxes County Wide School Tax Railroad Car Tax Real Estate Transfer Tax \r\nOther Compensation for Loss of Assets Interest Earned Lost and Damaged Books Reimbursements For After School Program Banks County Primary School After School Program For Grass Roots Program The Arts Council Sales Meals School Assets Shared Service Contributions Ninth District Opportunity, Incorporated Pioneer Regional Educational Service Agency Tuition Other \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 2,539,322.59 1,560.20 6,263.68 \r\n \r\n$ 2,539,322.59 1,560.20 6,263.68 \r\n \r\n3,449.50 7,768.44 $ \r\n425.67 \r\n \r\n7,674.16 \r\n \r\n3,449.50 15,442.60 \r\n425.67 \r\n \r\n32,119.28 \r\n1,340.00 \r\n63.15 \r\n5,139.50 150.50 \r\n1,492.50 1,004.63 \r\n \r\n221,170.39 \r\n \r\n$ \r\n \r\n50,000.00 \r\n \r\n501.78 \r\n \r\n32,119.28 \r\n1,340.00 \r\n221,170.39 63.15 \r\n55,139.50 150.50 \r\n1,492.50 1,506.41 \r\n \r\n$ 2,600,099.64 $ 228,844.55 $ \r\n \r\n50,501.78 $ 2,879,445.97 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 30 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \r\nGOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30. 1995 \r\n \r\nSCHEDULE\"6\" \r\n \r\nEXPENDITURES \r\nOperating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Compensation of Board Members Water, Sewer and Cleaning Services Repair and Maintenance Services Insurance Communications Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Interest Expense Other Expenditures \r\nNonoperating Costs Principal and Interest Land and Land Improvements Building and Building Improvements Equipment \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 4,366,223.82 $ 1,244,792.10 18,994.29 80,839.93 4,650.00 27,504.43 116,472.76 15,032.04 17,362.87 \r\n9,TT3.00 37,470.56 206,280.93 221,519.26 \r\n68,287.27 9,274.07 12,382.63 597.98 \r\n \r\n325,541.00 72,143.85 4,049.83 39,639.96 \r\n4,493.65 \r\n48.63 2,483.10 \r\n1,090.00 69,204.70 \r\n287,061.41 3,730.28 3,695.87 \r\n \r\n$ 4,691,764.82 1,316,935.95 23,044.12 120,479.89 4,650.00 27,504.43 120,966.41 15,032.04 17,411.50 2,483.10 9,TT3.00 38,560.56 275,485.63 221,519.26 287,061.41 72,017.55 12,969.94 12,382.63 597.98 \r\n \r\n39,637.57 \r\n26,041.00 90,905.39 \r\n \r\n$ 192,034.50 \r\n \r\n50,207.71 907,300.28 \r\n \r\n39,637.57 50,207.71 933,341.28 282,939.89 \r\n \r\nTotal Expenditures \r\n \r\n$ 6,614,041.90 $ 1,005,216.78 $ 957,507.99 $ 8,576,766.67 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 31 - \r\n \r\n EXPENDITURES Operating Costs Other Purchased Services Supplies Nonoperating Costs Equipment \r\nTotal Expenditures \r\n \r\nBANKS COUNTY BOARD OF EDUCATION \r\nSCHEDULE OF EXPENDITURES BY OBJECT \r\nLOTTERY PROGRAMS \r\nYEAR ENDED JUNE 30, 1995 \r\n \r\nSCHEDULE\"r \r\n \r\nINSTRUCTIONAL TECHNOLOGY \r\n \r\nDISTANT LEARNING \r\n \r\nMEDIA CENTER AND \r\nLIBRARY EQUIPMENT \r\n \r\nSAFE \r\nSCHOOLS \r\nGRANT \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n$ \r\n \r\n32,020.00 \r\n \r\n$ \r\n \r\n32,020.00 $ \r\n \r\n1,090.00 4,334.95 \r\n$ \r\n \r\n38,397.20 $ \r\n \r\n5,424.95 $ \r\n \r\n38,397.20 $ \r\n \r\n$ 2,800.00 \r\n \r\n1,090.00 4,334.95 \r\n73,21720 \r\n \r\n2,800.00 $ \r\n \r\n78,642.15 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 32 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1995 \r\n \r\nSCHEDULE \"8\" \r\n \r\nMinimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis \r\nSalaries Operations \r\nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \r\nExpenditures per Audit \r\nAmount of Underexpenditure for Total Allotment \r\n \r\nTHIRTEEN WEIGHTED AND MEDIA CENTER \r\nPROGRAMS \r\n \r\n100% TEST FOR OPERATIONS PORTION OF THIRTEEN WEIGHTED PROGRAMS \r\n \r\n$ 3,781,727.00 $ \r\n \r\n133,656.00 \r\n \r\n$ 3,622,744.59 \r\n \r\n--------- 276,287.58 $ \r\n \r\n247,990.64 \r\n \r\n$ 3,899,032.17 \r\n \r\n-78,722.15 $ 3,820,310.02 \r\n \r\n$ \r\n \r\n0.00 $ = = = = =0.0=0 \r\n \r\nSee notes to the general purpose financial statements. - 33 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30 1995 \r\n \r\n~~ERAL ~t!IQ ~BEeB Ei;\u0026!~TIQN PROGRAMS \r\nKindergarten (\") Grades 1  3 (1 \r\nSUb-Total - K-3 Grades 4 - 5 (\") Grades 6  8 (\") Grades 9  12 (\") High School Laboratories (\") Vocational Education Laboratories (\") \r\nTotal General and career Education Programs SPECIAL EDUCATION PROGRAMS \r\nRegular Programs category I (\") category 11 (\"l category Ill (\") category IV (1 SUb-Total  Regular category V (Gifted) (\") Total Special Education Programs \r\nBEMEDIAL EDUCATION PROGRAM 11 \r\nTotal Thirteen Weighted Programs MEDIA CENTER PROGRAMS \r\nSalaries Operations \r\nTotal Media Center Programs \r\nTotal Thirteen Weighted and Media Center Programs \r\nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \r\nTotal Staff Development \r\n(\") Identifies Thirteen Weighted Programs. \r\n \r\nALLOTMENTS FROM DEPARTMENT OF EDUCATION \r\n \r\nREQUIRED \r\n \r\nORIGINAL \r\n \r\n% \r\n \r\nORIGINAL \r\n \r\nMID-TERM \r\n \r\n$ \r\n \r\n300,551.00 \r\n \r\n$ \r\n \r\n270,495.90 \r\n \r\n701,862.00 \r\n \r\n631,675.80 $ \r\n \r\n$ 1,002,413.00 90 $ \r\n \r\n902,171.70 $ \r\n \r\n417,498.00 90 \r\n \r\n375,748.20 \r\n \r\n751,636.00 90 \r\n \r\n676,472.40 \r\n \r\n327,580.00 90 \r\n \r\n294,822.00 \r\n \r\n230,386.00 90 \r\n \r\n207,347.40 \r\n \r\n284,139.00 90 \r\n \r\n255.725.10 \r\n \r\n$ 3,013,652.00 \r\n \r\n$ 2.712,286.80 $ \r\n \r\n78,600.00 78,600.00 \r\n15,1n.oo \r\n93,n1.oo \r\n \r\n$ \r\n \r\n464,500.00 \r\n \r\n$ \r\n \r\n418,050.00 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n464,500.00 90 $ \r\n \r\n418,050.00 $ \r\n \r\n26,667.00 90 \r\n \r\n24,000.30 \r\n \r\n$ \r\n \r\n491.167.00 \r\n \r\n$ \r\n \r\n442,050.30 $ \r\n \r\n$ \r\n \r\n55,619.00 90 $ \r\n \r\n50,057.10 $ \r\n \r\n$ 3,560,438.00 \r\n \r\n$ 3,204,394.20 $ \r\n \r\n0.00 \r\n0.00 0.00 \r\n93.n1.oo \r\n \r\n$ \r\n \r\n100,080.00 90 $ \r\n \r\n90,072.00 $ \r\n \r\n0.00 \r\n \r\n27,432.00 90 \r\n \r\n24,688.80 \r\n \r\n$ \r\n \r\n127,512.00 \r\n \r\n$ \r\n \r\n114,760.80 $ \r\n \r\n0.00 \r\n \r\n$ 3,687,950.00 \r\n \r\n$ 3,319,155.00 $ \r\n \r\n93,777.00 \r\n \r\n$ \r\n \r\n9,771.00 \r\n \r\n31,746.00 \r\n \r\n$ \r\n \r\n9,771.00 $ \r\n \r\n31,746.00 \r\n \r\n$ \r\n \r\n41,517.00 100 $ \r\n \r\n41,517.00 $ \r\n \r\n238.00 0.00 \r\n238.00 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n. 34. \r\n \r\n SCHEDULE \"9\" \r\n \r\n. TOTAL REQUIRED \r\n \r\nACTUAL EXPENDITURES \r\n \r\nSALARIES \r\n \r\nOPERATIONS \r\n \r\nTOTAL \r\n \r\nAMOUNT OF UNDER EXPENDITURE \r\nFOR REQUIRED ALLOTMENT \r\n \r\n$ \r\n \r\n270,495.90 $ \r\n \r\n296,544.89 $ \r\n \r\n5,567.34 $ \r\n \r\n302,112.23 \r\n \r\n710,275.80 \r\n \r\n729,952.75 \r\n \r\n41,547.75 \r\n \r\n771,500.50 \r\n \r\n$ \r\n \r\n980,771.70 $ 1,026,497.64 $ \r\n \r\n47,115.09 $ 1,073,612.73 $ \r\n \r\n0.00 \r\n \r\n375,748.20 \r\n \r\n416;346.47 \r\n \r\n11,293.72 \r\n \r\n427,640.19 \r\n \r\n0.00 \r\n \r\n676,472.40 \r\n \r\n664,583.57 \r\n \r\n37,553.60 \r\n \r\n702,137.17 \r\n \r\n0.00 \r\n \r\n309,999.00 \r\n \r\n369,758.57 \r\n \r\n28,321.90 \r\n \r\n398,080.47 \r\n \r\n0.00 \r\n \r\n207,347.40 \r\n \r\n201,639.53 \r\n \r\n19,708.70 \r\n \r\n221,348.23 \r\n \r\n0.00 \r\n \r\n255,725.10 \r\n \r\n213,747.17 \r\n \r\n45,099.30 \r\n \r\n258,846.47 \r\n \r\n0.00 \r\n \r\n$ 2,806,063.80 $ 2,892,572.95 $ \r\n \r\n189,092.31 $ 3,081,665.26 \r\n \r\n$ \r\n \r\n418,050.00 \r\n \r\n$ \r\n \r\n8,834.66 $ 110,800.30 304,078.99 \r\n10,465.92 \r\n \r\n731.00 $ 1,344.30 54,983.89 \r\n365.00 \r\n \r\n9,565.66 112,144.60 359,062.88 \r\n10,830.92 \r\n \r\n$ \r\n \r\n418,050.00 $ \r\n \r\n434,179.87 $ \r\n \r\n57,424.19 $ \r\n \r\n491,604.06 \r\n \r\n0.00 \r\n \r\n24,000.30 \r\n \r\n45,398.08 \r\n \r\n596.03 \r\n \r\n45,994.11 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n442,050.30 $ \r\n \r\n479,577.95 $ \r\n \r\n58,020.22 $ \r\n \r\n537,598.17 \r\n \r\n$ \r\n \r\n50,057.10 $ \r\n \r\n72,656.48 $ \r\n \r\n878.11 $ \r\n \r\n73,534.59 \r\n \r\n0.00 \r\n \r\n$ 3,298,171.20 $ 3,444,807.38 $ \r\n \r\n247,990.64 $ 3,692,798.02 \r\n \r\n$ \r\n \r\n90,072.00 $ \r\n \r\n177,937.21 \r\n \r\n$ \r\n \r\n177,937.21 \r\n \r\n0.00 \r\n \r\n24,688.80 \r\n \r\n$ \r\n \r\n28,296.94 \r\n \r\n28,296.94 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n114,760.80 $ \r\n \r\n177,937.21 $ \r\n \r\n28,296.94 $ \r\n \r\n206,234.15 \r\n \r\n$ 3,412,932.00 $ 3,622,744.59 $ \r\n \r\n276,287.58 $ 3,899,032.17 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n10,009.00 \r\n \r\n31,746.00 \r\n \r\ns ___41.,.1_ss_._oo_ \r\n \r\n$ \r\n \r\n19,848.88 $ \r\n \r\n19,848.88 \r\n \r\n21,906.12 \r\n \r\n21,906.12 \r\n \r\n$ \r\n \r\n41,755.00 $ \r\n \r\n41,755.00 s _ _ _ _ _ _o_.oo_ \r\n \r\n- 35 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION OF BOARD MEMBERS \r\nYEAR ENDED JUNE 30, 1995 \r\n \r\nSCHEDULE 111O\" \r\n \r\nBOARD MEMBER ADDRESS \r\nMr. Dave Rylee, Chairperson(*) 1733 GA Hwy. 98S Maysville, Georgia 30558 \r\nMr. Conrad Boling GA Hwy. 98 Homer, Georgia 30547 \r\nMr. Len B. Dalton, Jr. (*) 5433 Hwy. 441 N Baldwin, Georgia 30511 \r\nMr. Donald B. Davis (*) 592 Berlin Road Homer, Georgia 30547 \r\nMr. Bo Garrison (*) 1281 Marshburn Road Homer, Georgia 30547 \r\nMr. Don Shubert (*) 288 Turner Drive Homer, Georgia 30547 \r\nMs. Sherri Smith 126 Temple Road Homer, Georgia 30547 \r\n \r\nCOMPENSATION \r\n \r\n$ \r\n \r\n1,200.00 \r\n \r\n250.00 \r\n \r\n900.00 \r\n \r\n550.00 \r\n \r\n550.00 \r\n \r\n900.00 \r\n \r\n300.00 \r\n \r\n(*) Denotes Board Members Serving as of June 30, 1995 \r\n \r\n$ ====4=,6=50=.0=0 \r\n \r\nSee notes to the general purpose financial statements. - 36 - \r\n \r\n SECTION II COMPLIANCE \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nf \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nFebruary 12, 1996 \r\n \r\nHonorable Zell Miller, Governor Me~bers of the General Assembly Members ofthe State Board of Education \r\nand Superintendent and Members of the Banks County Board ofEducation \r\nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements of the Banks County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated February 12, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\nWe conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. \r\nCompliance with laws, regulations, contracts, and grants applicable to Banks County Board of Education is the responsibility of the Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective of our audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion. \r\nThe results of our tests disclosed no instances of noncompliance that are required to be reported herein under Government Auditing Standards. \r\n \r\n95CRL-10 \r\n \r\n This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:dt 95CRL-10 \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nFebruary 12, 1996 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\n \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\n \r\nLadies and Gentlemen: \r\n \r\nWe have audited the general purpose financial statements of the Banks County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated February 12, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\n \r\nWe have applied procedures to test the Banks County Board of Education's compliance with the following requirements applicable to each of its Federal financial assistance programs, which are listed in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1995: \r\n \r\n( 1) Political Activity \r\n \r\n(5) Allowable Costs/Cost Principles \r\n \r\n(2) Civil Rights \r\n \r\n(6) Audit Follow-Up/Resolution \r\n \r\n(3) Cash Management \r\n \r\n(7) Administrative Requirements \r\n \r\n(4) Federal Financial Reports \r\n \r\nOur procedures were limited to the applicable procedures described in the Office of Management and Budget's \"Compliance Supplement for Single Audits of State and Local Governments\" and other additional procedures as deemed necessary. Our procedures were substantially less in scope than an audit, the objective of which \r\n \r\n95CRL-40 \r\n \r\n is the expression of an opinion on the Board's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. \r\nWith respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph ofthis report. With respect to items not tested, nothing came to our attention that caused us to believe that Banks County Board ofEducation had not complied, in all material respects, with those requirements. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\nd~~ \r\nClaude L. Vickers State Auditor \r\nCLV:dt 95CRL-40 \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nFebruary 12, 1996 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation \r\nand Superintendent and Members of the Banks County Board ofEducation \r\n \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \r\n \r\nLadies and Gentlemen: \r\n \r\nWe have audited the general purpose financial statements of the Banks County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated February 12, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\n \r\nIn connection with our audit ofthe fiscal year 1995 general purpose financial statements of the Banks County Board of Education and with our consideration of the Board's control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (0MB) Circular A-128, \"Audits of State and Local Governments\", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1995. As required by 0MB Circular A-128, we have performed auditing procedures on.the selected transactions to test compliance with the requirements goverrung: \r\n \r\n(1) Types of Services Allowed or Unallowed \r\n \r\n(3) Applicable Special Tests and Provisions \r\n \r\n(2) Eligibility \r\n \r\nOur procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Banks County Board ofEducation's compliance with these requirements. Accordingly, we do not express such an opinion. \r\n \r\n95CRL-120 \r\n \r\n With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing cam~ to our attention that caused us to believe that the Banks County Board of Education had not complied, in all material respects, with those requirements. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\nc::1~~ \r\nClaude L. Vickers \r\nState Auditor \r\nCLV:dt 95CRL-120 \r\n \r\n SECTION III INTERNAL CONTROL \r\n \r\n CIAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nFebruary 12, 1996 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements of the Banks County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated February 12, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\nWe conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. \r\nThe management ofthe Banks County Board of Education is responsible for establishing and maintaining an \r\ninternal control structure. In :fulfilling this responsibility, estimates and judgments by management are required \r\nto assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. \r\n \r\n95ICL-3 \r\n \r\n In planning and petfonning our audit of the general purpose financial statements of the Banks County Board ofEducation for the year ended June 30, 1995, we obtained an understanding of the internal control structure. With respect to the internal control structure, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to detennine our auditing procedure for the purpose of expressing our opinion on the general purpose financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion. \r\nWe noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements. \r\nAs described in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category: \r\nGeneral Fixed Assets \r\nA material weakness is a reportable condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of petforming their assigned functions. \r\nOur consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition disclosed above is also considered to be a material weakness. \r\nThis condition was considered in determining the nature, timing, and extent of the procedures to be petformed in our audit ofthe Banks County Board ofEducation's financial statements and this report does not affect our report thereon dated February 12, 1996. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n \r\nCLV:dt 95ICL-3 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nFebruary 12, 1996 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members of the Banks County Board ofEducation \r\nSINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements of the Banks County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated February 12, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose :financial statements. \r\nWe conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and the provisions of Office of Management and Budget (0MB) Circular A-128, \"Audits ofState and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. \r\nIn planning and performing our audit for the year ended June 30, 1995, we considered the internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration ofinternal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose :financial statements in a separate report dated February 12, 1996. \r\nThe management ofthe Banks County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The \r\n95ICL-13 \r\n \r\n objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that Federal financial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. \r\n \r\nFor the purposes of this report, we have classified the significant internal control structure policies and procedures used in administering Federal financial assistance programs in the following control categories: \r\n \r\nGENERAL REQUIREMENTS \r\n \r\nSPECIFIC REQUIREMENTS \r\n \r\n(I) Political Activity (2) Civil Rights (3) Cash Management (4) Federal Financial Reports \r\n \r\n(I) Types of Services Allowed or Unallowed \r\n(2) Eligibility \r\n(3) Matching, Level of Effort, and/or Earmarking \r\n \r\n(5) Allowable Costs/Cost Principles \r\n \r\n(4) Reporting \r\n \r\n(6) Audit Follow-Up/Resolution (7) Administrative Requirements \r\n \r\n(5) Applicable Special Tests and Provisions \r\n(7) Other Requirement Claims for Advances and Reimbursements \r\n \r\nFor all of the internal control structure categories listed above, we obtained an understanding of the design ofrelevant policies and procedures and whether they have been placed in operation, and we assessed control risk. \r\n \r\nDuring the year ended June 30, 1995, the Banks County Board of Education had no major Federal financial assistance programs and expended 63% of its total Federal financial assistance under the following nonmajor Federal financial assistance programs: \r\n \r\nFood and Nutrition Program Food Services \r\nNational School Lunch Program Elementary and Secondary Education Act, Chapter I, Education ofDeprived Children \r\n \r\n95ICL-13 \r\n \r\n We performed tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements and specific requirements as described above that are applicable to the aforementioned nonmajor Federal financial assistance programs. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. \r\nOur consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might constitute material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n \r\nCLV:dt 95ICL-13 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND Th1PROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1995 \r\nPRIOR YEAR \r\nAUDIT FOLLOW-UP/RESOLUTION Inadequate Separation ofDuties Financial Statements Federal Financial Assistance Finding Resolved Audit Control Number 6061-93-01 \r\nThe audit report for the year ended June 30, 1994, stated that the Board did not provide for adequate separation ofemployee duties in the performance ofaccounting functions and related procedures. For the year under review, the Board implemented changes in the separation of employee duties such that appropriate internal controls were in effect. \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $22,218.89 Audit Control Number 6061-93-03 \r\nThe audit report for the year ended June 30, 1993, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of$14,723.91 for the salaries portion of the High School Laboratories Program and $7,494.98 for the salaries portion ofthe Vocational Education Laboratories Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department ofEducation to refund this underexpenditure as required. The underexpenditure of $22,218.89 should be returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period. \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $2,051.66 Audit Control Number 6061-93-04 \r\nThe audit report for the year ended June 30, 1993, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of $2,051.66 for the Staff Development - Professional Development Stipends Program. For the year under review, no adjustment was made to the Boards's local fair share by the Georgia Department of Education to refund this underexpenditure as required. The underexpenditure of$2,051.66 should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period. \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1995 \r\nPRIOR YEAR \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $10,572.44 Audit Control Number 6061-94-01 \r\nThe audit report for the year ended June 30, 1994, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of$9,257.68 for the salaries portion of the High School Laboratories Program and $1,314.76 for the salaries portion ofthe Vocational Education Laboratories Program. For the year under review, no adjustment was made to the Boards's local fair share by the Georgia Department of Education to refund this underexpenditure as required. The underexpenditure of $10,572.44 should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period. \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $3,174.03 Audit Control Number 6061-97-02 \r\nThe audit report for the year ended June 30, 1994, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of $3,174.03 for the Staff Development - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department of Education to refund this underexpenditure as required. The underexpenditure of $3,174.03 should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period. \r\nAUDIT FOLLOW-UP/RESOLUTION Unearned Lottery Funds Financial Statements Amount: $170.25 Finding Resolved Audit Control Number 6061-94-03 \r\nThe audit report for the year ended June 30, 1994, stated that the Board received $170.25 in lottery funds in excess ofthe amount needed to cover program expenditures. In the year under review this lottery fund balance was refunded to the Georgia Department ofEducation. \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDfilE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1995 \r\nPRIOR YEAR/CURRENT YEAR \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6061-93-02 \r\nThe audit report for the year ended June 30, 1994, noted that the management of the Banks County Board of Education had chosen not to maintain a system wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include but may not be limited to date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. \r\n \r\n SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\nYEAR ENDED JUNE 30, 1995 \r\n \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $22,218.89 Audit Control Number 6061-93-03 \r\n \r\nWe concur with this finding. This finding will be resolved by the Georgia Department of Education through a future increase in the Board's local fair share portions of QBE Allotments. \r\n \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $2,051.66 Audit Control Number 6061-93-04 \r\n \r\nWe concur with this finding. This finding will be resolved by the Georgia Department of Education through a future increase in the Board's local fair share portion of QBE Allotments. \r\n \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $10,572.44 Audit Control Number 6061-94-01 \r\n \r\nWe concur with this finding. This finding will be resolved by the Georgia Department ofEducation through a future increase in the Board's local fair share portion of QBE Allotments. \r\n \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $3,174.03 Audit Control Number 6061-94-02 \r\n \r\nWe concur with this finding. This finding will be resolved by the Georgia Department of Education through a future increase in the Board's local fair share portion of QBE Allotments. \r\n \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6061-93-02 \r\n \r\nWe concur with this recommendation. Due to current staffing limitations and budgetary considerations \r\n \r\nprohibiting the hiring of additional administrative staff the Board has decided not to pursue the recording of \r\n \r\ngeneral fixed assets on the financial statements. \r\n \r\n \r\n \r\n BANKS COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\nYEAR ENDED JUNE 30, 1995 \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $22,218.89 Audit Control Number 6061-93-03 \r\nWe concur with this finding. This finding will be resolved by the Georgia Department of Education through a future increase in the Board's local fair share portions of QBE Allotments. \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $2,051.66 Audit Control Number 6061-93-04 \r\nWe concur with this finding. This finding will be resolved by the Georgia Department of Education through a future increase in the Board's local fair share portion of QBE Allotments. \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $10,572.44 Audit Control Number 6061-94-01 \r\nWe concur with this finding. This finding will be resolved by the Georgia Department of Education through a future increase in the Board's local fair share portion of QBE Allotments. \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $3,174.03 Audit Control Number 6061-94-02 \r\nWe concur with this finding. This finding will be resolved by the Georgia Department of Education through a future increase in the Board's local fair share portion of QBE Allotments. \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6061-93-02 \r\nWe concur with this recommendation. Due to current staffing limitations and budgetary considerations prohibiting the hiring of additional administrative staff the Board has decided not to pursue the recording of general fixed assets on the financial statements. \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1993-h94","title":"Audit report, Banks County Board of Education, Homer, Georgia, year ended June 30, 1994","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits.","Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Banks County, 34.35413, -83.49737"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1994-06-30"],"dcterms_description":["Title fluctuates: Audits conducted \"in accordance with generally accepted auditing standards\" are issued as: Audit report; reviews that are \"substantially less in scope than an audit in accordance with generally accepted auditing standards\" are issued as: Review or Management report. For issues for fiscal year ending June 30, 2000-June 30, 2008, issues where audits are conducted \"in accordance with auditing standards generally accepted in the United States of America\" are issued as: Report on audit of the financial statements. For issues for fiscal year ending June 30, 2009-, issues where audits are conducted \"in accordance with auditing standards generally accepted in the United States of America\" are issued as: Annual financial report ... (including independent auditor's reports)","Issues for years ended \u003cJune 30, 1994 (released in 1995)\u003e-June 30, 1995 (released in 1996) issued by the State of Georgia, Dept. of Audits, years ended June 30, 1996 (released in 1997)- by the Dept. of Audits and Accounts.","Year ended June 30, 1994 (online surrogate); title from PDF title page (journal archive page, Georgia Government Publications database, viewed September 30, 2015).","Fiscal year ended June 30, 2014 (received via FTP 8/4/15 from Georgia Dept. of Audits and Accounts) (online surrogate) (Georgia Government Publications database, viewed September 3, 2015)."],"dc_format":["application/pdf"],"dcterms_identifier":null,"dcterms_language":["eng"],"dcterms_publisher":["Atlanta, Ga. : Dept. of Audits and Accounts"],"dc_relation":null,"dc_right":["http://rightsstatements.org/vocab/InC/1.0/"],"dcterms_is_part_of":null,"dcterms_subject":["Banks County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Banks County--Auditing--Periodicals.","Education--Georgia--Banks County--Finance--Statistics--Periodicals.","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Banks County Board of Education, Homer, Georgia, year ended June 30, 1994"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1993-h94"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bb2-b1993-h94"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":["Periodicals--fast"],"fulltext":"GA A800 .RI \r\n2Co \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS \r\n254 WASHINGTON STREET ATLANTA. GEORGIA 30334 \r\n \r\n AUDIT REPORT BANKS COUNTY BOARD OF EDUCATION \r\nHOMER, GEORGIA YEAR ENDED JUNE 30, 1994 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\nEXHIBITS \r\n \r\nGENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nCOMBINED STATEMENTS - OVERVIEW \r\n \r\nA \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\nALLFUNDTYPESANDACCOUNTGROUP \r\n \r\n2 \r\n \r\nB \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\n4 \r\n \r\nC \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES - ACTUAL AND BUDGET \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\n5 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n6 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING AND INDMDUAL FUND STATEMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nE \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n18 \r\n \r\nF \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n20 \r\n \r\nG \r\n \r\nFIDUCIARY FUND TYPE \r\n \r\nSTATEMENT OF CHANGES IN ASSETS AND LIABILITIES \r\n \r\nAGENCY FUND \r\n \r\n22 \r\n \r\nSCHEDULES \r\n \r\n1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\n23 \r\n \r\n2 ANALYSIS OF CASH AND CASH EQUIVALENTS \r\n \r\n25 \r\n \r\n3 ACCOUNTS RECENABLE \r\n \r\n26 \r\n \r\nSCHEDULE OF REVENUE \r\n \r\n4 \r\n \r\nSTATE FUNDS \r\n \r\n27 \r\n \r\n5 \r\n \r\nLOCAL AND OTHER FUNDS \r\n \r\n28 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nSCHEDULES \r\n \r\nSCHEDULE OF EXPENDITURES BY OBJECT \r\n \r\n6 \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\n29 \r\n \r\n7 \r\n \r\nLOTTERY PROGRAMS \r\n \r\n30 \r\n \r\nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \r\n \r\n8 \r\n \r\nOVERALL \r\n \r\n31 \r\n \r\n9 \r\n \r\nBY PROGRAM \r\n \r\n32 \r\n \r\n10 SCHEDULE OF COMPENSATION OF BOARD MEMBERS \r\n \r\n34 \r\n \r\nSECTION IT \r\nCOMPLIANCE \r\nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFiC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \r\n \r\nSECTION III \r\nINTERNAL CONTROL \r\nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nSINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\nSECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nSECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS SCHEDULE OF PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\n \r\n SECTION I FINANCIAL \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 13, 1995 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements (Exhibits A through D) of the Banks County Board of Education, as of and for the year ended June 30, 1994, as listed in the table of contents. These financial statements are the responsibility ofthe Board's management. Our responsibility is to express an opinion on these financial statements based on our audit. \r\nWe conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \r\nAs described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \r\n* The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. \r\n94ARL-13 \r\n \r\n * School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. \r\n \r\n* The Board did not recognize as expenditures, in the year ended June 30, 1994, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1994. Also funds received, subsequent to June 30, 1994, from the Georgia Department of Education for the State's share ofthese unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were improperly recorded in the year ended June 30, 1994. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and \r\nexpenditures should be recorded when incurred, rather than when funds are received or disbursed. \r\n \r\nThe aggregate effects on the general purpose financial statements of these variances or omissions have not \r\n \r\nbeen determined, but are believed to be material. \r\n \r\n \r\n \r\nIn our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Banks County Board of Education as of June 30, 1994, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. \r\n \r\nOur audit was conducted for the purpose offorming an opinion on the general purpose financial statements of the Banks County Board of Education taken as a whole. The combining and individual fund statements (Exhibits E through G) and the financial schedules (Schedules 1 through IO which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part of the general purpose financial. statements ofthe Banks County Board ofEducation. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. \r\n \r\nA copy ofthis report has been filed as a permanent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \r\n \r\nRespectfully submitted, \r\n~/~ \r\nClaude L. Vickers \r\nState Auditor \r\n \r\nCLV:gp 94ARL-13 \r\n \r\n BANKS COUNTY BOARD OF EDUCATION - 1- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET \r\nALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 1994 \r\n \r\nASSETS Cash and Cash Equivalents \r\nAccounts Receivable \r\nInventories Food Donated Commodities Purchased Food \r\nAmount to be Provided in Future Years For Payment of Capital Lease Agreements \r\nTotal Assets \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\n$ \r\n \r\n156,218.42 $ \r\n \r\n284,220.69 $ \r\n \r\n0.00 \r\n \r\n77,017.25 \r\n \r\n59,253.17 \r\n \r\n5,140.51 3,669.07 \r\n \r\n$ \r\n \r\n233!235.67 $ \r\n \r\n352,283.44 $ \r\n \r\n0.00 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nAccounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue Unearned Lottery Funds \r\n- Funds Held for Others \r\nCapital Lease Agreements \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved 'l=or Bus Replacement Funds For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food \r\nUnreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ \r\n \r\n10,946.08 \r\n \r\n40,940.74 \r\n \r\n22.10 \r\n \r\n40,620.56 \r\n \r\n170.25 \r\n \r\n$ \r\n \r\n92,699.73 \r\n \r\n$ \r\n \r\n38,342.28 \r\n \r\n38,017.02 \r\n \r\n$ \r\n \r\n5,140.51 \r\n \r\n3,669.07 \r\n \r\n$ \r\n \r\n76,359.30 $ \r\n \r\n8,809.58 \r\n \r\n156,876.37 \r\n \r\n250,774.13 $ \r\n \r\n$ \r\n \r\n233,235.67 $ \r\n \r\n259,583.71 $ \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ \r\n \r\n233!235.67 $ \r\n \r\n352,283.44 $ \r\n \r\n0.00 0.00 \r\n0.00 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -2 - \r\n \r\n EXHIBIT \"A\" \r\n \r\nFIDUCIARY FUND TYPE AGENCY FUND \r\n \r\nACCOUNT GROUP GENERAL \r\nLONG-TERM DEBT \r\n \r\nTOTALS (Memorandum Only) JUNE 30, 1994 JUNE 30, 1993 \r\n \r\n$ \r\n \r\n12,225.83 \r\n \r\n$ 452,664.94 $ 751,767.27 \r\n \r\n136,270.42 \r\n \r\n138,085.77 \r\n \r\n- - - - - - $ _ _ _1_17..._,6_2_1_.8_2 \r\n \r\n5,140.51 3,669.07 \r\n117,621.82 \r\n \r\n8,307.85 1,893.17 \r\n74,357.52 \r\n \r\n$ \r\n \r\n12,225.83 $ \r\n \r\n117,621.82 $ 715,366.76 $ 974,411.58 \r\n \r\n$ \r\n \r\n10,946.08 $ \r\n \r\n9,188.12 \r\n \r\n40,940.74 \r\n \r\n37,570.97 \r\n \r\n22.10 \r\n \r\n6,021.21 \r\n \r\n40,620.56 \r\n \r\n170.25 \r\n \r\n$ \r\n \r\n12,225.83 \r\n \r\n12,225.83 \r\n \r\n$ \r\n \r\n117,621.82 \r\n \r\n117,621.82 \r\n \r\n74,357.52 \r\n \r\n$ \r\n \r\n12,225.83 $ \r\n \r\n117,621.82 $ 222,547.38 $ 127,137.82 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n38,342.28 \r\n \r\n38,017.02 $ \r\n \r\n24,270.55 \r\n \r\n5,140.51 3,669.07 \r\n \r\n8,307.85 1,893.17 \r\n \r\n$ \r\n \r\n85,168.88 $ \r\n \r\n34,471.57 \r\n \r\n407,650.50 \r\n \r\n812,802.19 \r\n \r\n$ 492,819.38 $ 847,273.76 \r\n \r\n$ \r\n \r\n12,225.83 $ \r\n \r\n117,621.82 $ 715,366.76 $ 974,411.58 \r\n \r\n-3- \r\n \r\n 1:W:::!KS COUNTY BOARD OF EDUCATIQN QOMBINED STATEMENT OF BEVENUES, l;;XPl;;NDITURES AND CHANGES IN FUND BALANCl;;S \r\nGOVERNMENTAL FUND TYPES \r\nYEAR l;;NDl;;D JUNE 30, 1994 \r\n \r\nEXHIBIT \"B\" \r\n \r\nB~N!,!E \r\nState Funds Federal Funds Local and Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services PupilServices Improvement of Instructional Services Educ:ational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transpoltation Services Central Support Services Other Support Services Food Services Operation Community Services Operations Other Operations of Non-Instructional Services \r\nCapital Outlay Debt Service \r\nPrincipal Interest \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nQT!:iEB EINANCI~ Q!.!BQES {!,.!SES} \r\nCapital Leases Operating Transfers In \r\nOperating Transfers Out \r\nTotal Other Financing Sources (Uses) \r\nExcess of Revenues and Other Financing Sources \r\nover (under) Expenditures and Other Financing Uses \r\nF!.!NP BALANQE JULY 1 \r\nFood Inventory Donated Commodities July 1 June30 Purchased Food July 1 June30 \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nTOTALS \r\n(Memorandum OnM \r\nYEAR ENDED \r\nJUNE 301 1994 JUNE 30, 1993 \r\n \r\n$ 4,262,609.81 $ 16,360.27 \r\n2,274,181.01 \r\n$ 6,553,151.09 $ \r\n \r\n128,753.36 $ 630,382.89 207,245.88 \r\n966,382.13 $ \r\n \r\n0.00 $ \r\n \r\n4,391,363.17 $ 646,743.16 \r\n2,481,426.89 \r\n \r\n4,070,138.86 523,446.46 \r\n2,171,392.71 \r\n \r\n0.00 $ 7,519,533.22 $ 6,764,978.03 \r\n \r\n$ 3,943,314.79 $ 326,608.66 \r\n \r\n162,781.54 133,588.98 222,314.98 133,405.81 410,111.31 39,747.48 535,004.95 443,188.81 \r\n8,633.70 26,745.52 \r\n19,672.48 55,575.60 \r\n \r\n27,201.75 7,264.56 \r\n32,179.44 6,659.47 99.75 \r\n5,000.00 12,970.00 \r\n465.65 614,599.69 \r\n$ \r\n \r\n43,068.99 5,87221 \r\n \r\n$ 6,183,027.15 $ 1,033,048.97 $ \r\n \r\n$ \r\n \r\n370,123.94 $ \r\n \r\n-66,666.84 $ \r\n \r\n$ 4,269,923.45 $ 3,825,259.88 \r\n \r\n742,853.33 \r\n \r\n189,98329 140,853.54 254,494.42 140,065.28 410,211.06 39,747.48 540,004.95 456,158.81 \r\n8,633.70 27,211.17 614,599.69 19,672.48 55,575.60 742,853.33 \r\n \r\n185,921.79 124,48127 215,382.05 138,030.43 341,274.16 27,948.83 439,349.71 511,468.31 \r\n8,358.10 19,319.99 464,458.44 \r\n64,363.45 351,282.47 \r\n \r\n43,068.99 5,872.21 \r\n \r\n742,853.33 $ 7,958,929.45 $ 6,716,898.88 \r\n \r\n-742,853.33 $ -439,396.23 $ \r\n \r\n48,079.15 \r\n \r\n$ \r\n \r\n86,33329 \r\n \r\n$ \r\n \r\n-743,199.00 \r\n \r\n$ -656,865.71 $ \r\n \r\n345.67 $ 345.67 $ \r\n \r\n$ 742,853.33 \r\n742,853.33 $ \r\n \r\n86,33329 743,199.00 $ -743,199.00 \r\n86,333.29 $ \r\n \r\n328,308.75 -328,308.75 \r\n0.00 \r\n \r\n$ -286,741.77 $ 519,977.44 \r\n \r\n-66,321.17 $ 327,296.32 \r\n \r\n0.00 $ 0.00 \r\n \r\n-353,062.94 $ 847,273.76 \r\n \r\n48,079.15 807,46323 \r\n \r\n-8,307.85 5,140.51 \r\n-1,893.17 3,669.07 \r\n \r\n-8,307.85 5,140.51 \r\n-1,893.17 3,669.07 \r\n \r\n-16,593.79 8,307.85 \r\n-1,875.85 1,893.17 \r\n \r\nfllNP BALANQE J!,!NE 3Q \r\n \r\n$ 233,235.67 $ 259,583.71 $ \r\n \r\n0.00 $ \r\n \r\n4921819.38 $ \r\n \r\n8471273.76 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nACTUAL AND BUDGET - GOVERNMENTAL FUND TYPES \r\nYEAR ENDED JUNE 30, 1994 \r\n \r\nEXHIBIT\"C\" \r\n \r\nACTUAL PER \r\nEXHIBIT\"B\" \r\n \r\nACTUAL PER \r\nADJUSTMENTS BUDGET BASIS \r\n \r\nBUDGET \r\n \r\nVARIANCE FAVORABLE (UNFAVORABLE) \r\n \r\nREVENUES \r\nState Funds Federal Funds Local and Other Funds \r\nTotal Revenues \r\n \r\n$ 4,391,363.17 $ 646,743.16 \r\n2,481,426.89 \r\n \r\n0.00 $ 4,391,363.17 $ 4,005,977.00 $ \r\n \r\n646,743.16 \r\n \r\n570,596.00 \r\n \r\n2,481,426.89 2,352,623.00 \r\n \r\n385,386.17 76,147.16 \r\n128,803.89 \r\n \r\ns 7,519,533.22 s _ _ _...:;.o'\"\"\".00~$ 7,519,533.22 s 6,929,196.oo $ _ _ _590__,_,33_7._22_ \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Operations Other Operations of Non-Instructional Services \r\nCapital Outlay Debt Service \r\n \r\n$ 4,269,923.45 $ \r\n189,983.29 140,853.54 254,494.42 140,065.28 410,211.06 \r\n39,747.48 540,004.95 456,158.81 \r\n8,633.70 27,211.17 614,599.69 19,672.48 55,575.60 742,853.33  48,941.20 \r\n \r\n0.00 $ 4,269,923.45 $ 4,096,717.00 $ \r\n \r\n189,983.29 140,853.54 254,494.42 140,065.28 410,211.06 39,747.48 540,004.95 456,158.81 \r\n8,633.70 27,211.17 614,599.69 19,672.48 55,575.60 742,853.33 48,941.20 \r\n \r\n212,521.00 133,312.00 211,710.00 141,054.00 402,495.00 \r\n33,354.00 518,000.00 434,245.00 \r\n9,000.00 19,565.00 599,871.00 \r\n53,100.00 655,000.00 \r\n \r\n-173,206.45 \r\n22,537.71 -7,541.54 -42,784.42 \r\n988.72 -7,716.06 -6,393.48 -22,004.95 -21,913.81 \r\n366.30 -7,646.17 -14,728.69 -19,672.48 -2,475.60 -87,853.33 -48,941.20 \r\n \r\nTotal Expenditures \r\n \r\n$ 7,958,929.45 $ _ _ _ _0._00_$ 7,958,929.45 $ 7,519,944.00 $ -438,985.45 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\ns -439,396.23 s _ _ _..;..o.\"'\"oo.c...s -439,396.23 $ -590,748.oo $ _ _ _15_1~,35_1._77_ \r\n \r\nOTHER FINANCING SOURCES (USES) \r\nOther Sources Other Uses \r\nTotal Other Financing Sources (Uses) \r\n \r\n$ 829,532.29 $ -743, 199.00 \r\n \r\n0.00 $ 829,532.29 -743,199.00 $ \r\n \r\n$ 86,333.29 $ _ _ _ _0.;;.;.;;..00c..$ 86,333.29 $ \r\n \r\n$ -10,000.00 \r\n \r\n829,532.29 -733,199.00 \r\n \r\n-10,000.00 $ _ _ _96__,_,333_\"'\".29_ \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JULY 1, 1993 \r\n \r\n$ -353,062.94 $ 847,273.76 \r\n \r\n0.00 $ -353,062.94 $ -600,748.00 $ \r\n \r\n-10,201.02 \r\n \r\n837,072.74 \r\n \r\n837,942.13 \r\n \r\n247,685.06 -869.39 \r\n \r\nADJUSTMENTS Prior Year (Net) \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n1,02922 \r\n \r\n-1,02922 \r\n \r\nFOOD INVENTORY \r\nDonated Commodities \r\nJuly 1. 1993 June 30, 1994 \r\nPurchased Food \r\nJuly 1, 1993 June 30, 1994 \r\n \r\n-8,307.85 \r\n \r\n8,307.85 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n5,140.51 \r\n \r\n-5,140.51 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n-1,893.17 \r\n \r\n1,893.17 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n3,669.07 \r\n \r\n-3,669.07 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\nFUND BALANCE JUNE 30, 1994 \r\n \r\n$ 492,819.38 $ \r\n \r\n------ -8,809.58 $ 484,009.80 $ 238,223.35 $ \r\n \r\n245,786.45 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. \r\n \r\n-5- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXIIlBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATE1\\1ENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nThe Banks County Board ofEducation (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board and Superintendent, both elected by the voters. With the exception of the departures from generally accepted accounting principles disclosed in the following paragraphs, the financial statements ofthe Board have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards. \r\nThe more significant of the Board's accounting policies are described below. \r\nREPORTING ENTITY \r\nIn evaluating how to define the government unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, \"Defining the Financial Reporting Entity\". The primary government consists of all the organizations that compose the legal entity of the Banks County Board ofEducation. \r\nBased upon the application of the above criteria, the Banks County Board ofEducation is determined to be the lowest level of government exercising oversight responsibility and control over all activities related to public education in Banks County, Georgia. The Board is not included in any other governmental \"reporting entity\" as defined by GASB Codification of Governmental Accounting and Financial Reporting Standards. \r\nBoard members were elected by the public and have decision making authority, the power to designate management, except for the Superintendent who was also elected, the ability to significantly influence operations, and primary accountability for fiscal matters. The Board determines the millage rate at which school taxes are levied and may incur bonded indebtedness with voter approval. \r\nFUND ACCOUNTING \r\nThe Board uses funds and an account group to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. \r\nA fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \r\nGeneral Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \r\n- 6- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \r\nThe general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \r\nGOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's general activities. Governmental Fund Types include: \r\nGENERAL FUND - the fund used to account for all financial resources of the Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services traditionally provided by a board of education. \r\nSPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund~ however, the Board chooses not to \r\nprovide for depreciation, but to maintain the fund on a modified accrual basis and to report the fund as a \r\nspecial revenue fund under governmental fund types, which is acceptable under generally accepted accounting principles for governmental entities. \r\nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. \r\nFIDUCIARY FUND TYPE - the funds used to account for assets held by a governmental unit in a trustee capacity or as an agent for other funds, governments, or individuals. \r\nAGENCY FUND - the fund used to account for assets held for another government. \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for material capital lease obligations. \r\n \r\n- 7- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 1: SUM:MARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nBASIS OF ACCOUNTING \r\nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. \r\nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \r\nAgency funds are purely custodial in nature and do not involve measurement of results ofoperations. \r\nGovernmental funds are accounted for using the modified accrual basis of accounting under which: \r\nRevenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). \"Measurable\" means the amount ofthe transaction can be determined and \"available\" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants, and investment income. Property taxes are considered available ifthey are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end. \r\nExpenditures are generally recognized when the related fund liability is incurred. \r\nA departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share ofthese contracts. During fiscal year 1994, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1993 and ending in early June 1994. Personnel contracts for this employment period specify that compensation be paid \r\nin twelve equal monthly payments beginning in September 1993 and ending in August 1994. State grants to \r\nfund the State's share ofthese contracts were disbursed from the Georgia Department ofEducation to the Board in the same twelve months. As ofJune 30, 1994, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1994, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1994. Also, the State's portion ofthe compensation paid in July and August 1994 was received and recorded as revenue in the fiscal year subsequent to June 30, 1994. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were recorded in the year ended June 30, 1994. Generally accepted accounting principles require that revenues be recorded when available and \r\nmeasurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \r\n- 8- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXIIlBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nAgency funds are accounted for using the modified accrual basis of accounting in recognizing assets and liabilities. \r\nBUDGET \r\nThe Banks County Board of Education has a legally authorized nonappropriated budget which is formally approved by the Board at the aggregate level. Budgets are prepared to provide a basis for funding operations and there is no legal prohibition regarding overexpenditure of the aggregate budget. The budget process begins when the Board's administration prepares a tentative aggregated budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. \r\nThe Board prepares its budget on the modified accrual basis, which is the same basis on which it presents its financial statements. The budget comparison on Exhibit \"C\" presents actual and budget data for all governmental funds on a combined basis. To facilitate comparison with the budget, donated and purchased food inventories as reflected on Exhibit \"B II have been eliminated from fund balance. \r\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist ofdeposits (including certificates of deposit, savings and N.O.W. accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement of proceeds from bond issues in certificates of deposit is limited to financial institutions located within this State. \r\nRECEIVABLES \r\nReceivables consist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose :financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \r\n \r\n- 9- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nPROPERTY TAXES \r\n \r\nThe Banks County Board ofCommissioners fixed the property tax levy for the 1993 tax year (calendar year) on September 13, 1993 (levy date). Taxes were due on December 20, 1993. The lien date for property taxes was January 1, 1993. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1994 since their collection meets the criteria of GASB codification section P70.103. The Banks County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection, and remits the balance of taxes collected to the Board. \r\n \r\nThe tax millage rate levied for the 1993 tax year (calendar year) for the Banks County Board ofEducation was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n9.81 mills \r\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES \r\n \r\nInventories of donated food commodities used in the preparation of meals are reported on the Combined \r\n \r\nBalance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined \r\n \r\nBalance Sheet at cost. Donated food commodities are recorded as revenues and expenditures at the time \r\n \r\ncommodity items are received. Purchased foods inventories are recorded as expenditures at the time of \r\n \r\npurchase. The inventories reported on the balance sheet for donated food commodities and for purchased \r\n \r\nfoods are equally offset by reservations offund balance which indicates that these amounts do not constitute \r\n \r\n\"available spendable resources\" even though they are a component of net current assets. \r\n \r\n \r\n \r\nINTERFUND TRANSACTIONS \r\n \r\nThe Board has the following types of interfund transactions: \r\n \r\nReimbursements ofexpenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. \r\n \r\nOperating transfers are recorded for all interfund transactions and reimbursements. \r\n \r\nMEMORANDUM ONLY - TOTAL COLUMNS \r\n \r\nTotal columns on the general purpose financial statements are captioned \"Memorandum Only\" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation ofthis data. \r\n \r\n- 10 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 2: DEPOSITS \r\nCOLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral in an amount of not less than 110 percent of the public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \r\nAcceptable security for deposits consists of any one of or any combination of the following: \r\n(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \r\n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \r\n(3) Bonds, bills, notes, certificates ofindebtedness or other direct obligations of the United States or of the State of Georgia, \r\n(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities ofthe State of Georgia, \r\n(5) Bonds ofany public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use ofthe bonds for this purpose, \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and \r\n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit.Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \r\nCATEGORIZATION OF DEPOSITS At June 30, 1994, the bank balances were $893,707.82. The amounts of the total bank balances are classified into three categories of credit risk: \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\n- 11 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 2: DEPOSITS \r\n \r\nCategory 3 - \r\n \r\nUncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \r\n \r\nThe Board's 'deposits are classified by risk category at June 30, 1994, as follows: \r\n \r\nRisk Categmy \r\n \r\nBank Balance \r\n \r\n1 \r\n \r\n$ 100,000.00 \r\n \r\n2 \r\n \r\n793,707.82 \r\n \r\n3 \r\n \r\n0.00 \r\n \r\nTotal \r\n \r\n$ 893.707,82 \r\n \r\nNote 3: NON-MONETARY TRANSACTIONS \r\n \r\nThe Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \r\n \r\nNote 4: RISK MANAGEMENT \r\n \r\nThe Board has established a limited risk management program for Unemployment Compensation. Estimated claims are budgeted by management based on known claims and prior experience. During fiscal year 1994, a total of $2,605.00 was paid in claims. \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCAPITAL LEASES The Banks County Board ofEducation has entered into various lease agreements as lessee for school buses and office equipment. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value ofthe future minimum lease payments as of the date oftheir inception. \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1994, were as follows: \r\n \r\n- 12 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCapital Leases \r\n \r\nBalance July 1, 1993 \r\n \r\n$ 74,357.52 \r\n \r\nAdditions \r\n \r\n86,333.29 \r\n \r\nDeletions \r\n \r\n43,068.99 \r\n \r\nBalance June 30, 1994 \r\n \r\n$ 117,621.82 \r\n \r\nAt June 30, 1994, payments due, by fiscal year which includes principal and interest for these items: \r\n \r\nFiscal Year Ended June 30 \r\n \r\nCapital Leases \r\n \r\n1995 1996 1997 1998 1999 \r\n \r\n$ 39,637.57 39,837.91 22,117.23 17,810.65 17,610.27 \r\n \r\nTotal Principal and Interest \r\n \r\n$ 137,013.63 \r\n \r\nDeduct: Imputed Interest \r\n \r\n19,391.81 \r\n \r\nNet Present Value ofFuture Minimum Lease Payments \r\n \r\n$ 117,621.82 \r\n \r\nNote 6: SIGNIFICANT COMMIT:MENTS \r\n \r\nAt June 30, 1994, the Board had encumbrances in the amount of$76,880.49 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with the Lottery Programs. Lottery funds in the amount of $72,256.64 are available to fund these encumbrances. Encumbrances outstanding do not constitute expenditures or liabilities in the current year because these commitments will be honored during the subsequent fiscal year. These encumbrances are identified by Lottery Program as follows: \r\n \r\n- 13 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXIDBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 6: SIGNIFICANT COMMITMENTS \r\n \r\nComputers in Classrooms Distant Leaming Media Center and Library Equipment Safe Schools Grant \r\n \r\n$ 32,020.00 1,000.00 \r\n41,060.49 2,800.00 \r\n \r\n$ 76,880.49 \r\n \r\nThe following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1994, together with funding available: \r\n \r\nProject \r\n \r\nUnearned Executed Contracts \r\n \r\nBanks County Elementary School Building Renovations and Modifications \r\n \r\n$ 506,672.76 \r\n \r\nThe amounts described in this note are not reflected in the general purpose financial statements. \r\n \r\nNote 7: CONTINGENT LIABILITIES \r\n \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \r\n \r\nNote 8: RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\n \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS). \r\n \r\nTRS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for service retirement after 30 years ofcreditable service, regardless of age, or after IO years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of \r\n \r\n- 14 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 8: RETIREMENT PLANS \r\ncreditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \r\nRetirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death. \r\nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest. \r\nThe Board's payroll for employees covered by TRS for the year ended June 30, 1994, was $3,722,158.42; total payroll was $4,356,509.00. \r\nTRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required to contribute 6% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees as advised by their independent actuary. For fiscal year 1994 that rate for employer contributions was 11.81%. The interest rate assumption (rate of return on investments) was 7.50%. \r\nTotal contributions made during fiscal year 1994 amounted to $662,916.74, ofwhich $439,586.66 was made by the Board and $223,330.08 was made by employees. These contributions represented 11.81% (Board) and 6% (employees) of covered payroll. \r\n- TRS FUNDING STATUS AND PROGRESS \r\nThe amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers. \r\nTotal unfunded pension benefit obligation of TRS as of June 30, 1993, was as follows: \r\n \r\n- 15 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXlllBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 8: RETIREMENT PLANS \r\n \r\nTotal pension benefit obligation \r\n \r\n$13,912,014,000.00 \r\n \r\nNet assets available for benefits, at cost \r\n \r\n12,821,722,000.00 \r\n \r\nUnfunded pension benefit obligation \r\n \r\n$ 1,090,292,000.00 \r\n \r\nThe measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1993. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers. \r\n \r\nTotal contributions from all employers to TRS for fiscal year ended June 30, 1994 were $521,550,000.00. The Board's contribution for the year ended June 30, 1994 of $439,586.66 was actuarially determined and represented .0842% oftotal contributions made by all participating employers. \r\n \r\nTen year historical trend information is presented in the 1994 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due. \r\n \r\nPUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS) \r\n \r\nPSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System of Georgia (PSERS). All employer's contributions are made by the State of Georgia. \r\n \r\nPSERS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years ofservice and attainment of age 65. A member applying for seP4~e retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number of years of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \r\n \r\nRetirement provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent upon the number ofyears of service. If there are less than ten years of service, a lump sum refund ofthe employee's contributions and interest are made to the beneficiary. If there are more than ten years of service, the beneficiary shall receive for life half of what the employee would have received upon retirement. \r\n \r\nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest. \r\n \r\nThere were 64 employees covered under PSERS for the year ended June 30, 1994. \r\n \r\n- 16 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 8: RETIREMENT PLANS \r\nPSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1994 amounted to $2,048.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1994, was $9,150,000.00. \r\nNote 9: SURETY BONDS \r\nThe School Superintendent, Mr. Dock Sisk, is bonded in the amount of $25,000.00 with the State Farm Fire and Casualty Company, Bloomington, Illinois, their Bond No. 91-11-3332-9, on which premium was paid through January 1, 1995. \r\n \r\n- 17 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1994 \r\n \r\nASSETS \r\nCash and Cash Equivalents \r\nAccounts Receivable \r\nInventories Food Donated Commodities Purchased Food \r\n \r\nELEMENTARY \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nCHAPTER 1 EDUCATION OF \r\nDEPRIVED CHILDREN \r\n \r\n$ 263,500.46 $ 15,488.64 \r\n \r\n14,014.65 \r\n \r\n25,324.27 $ \r\n \r\n19,074.14 \r\n \r\n5,140.51 3,669.07 \r\n \r\nTotal Assets \r\n \r\n------- $ 286,324.69 $ 40,812.91 $ \r\n \r\n19,074.14 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue Unearned Lottery Funds \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Inventories Food Donated Commodities Purchased Food \r\nUnreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ \r\n \r\n$ \r\n \r\n5,333.10 \r\n \r\n21,407.88 \r\n \r\n$ \r\n \r\n22.10 \r\n \r\n40,620.56 \r\n \r\n170.25 \r\n \r\n$ 26,740.98 $ 40,812.91 $ \r\n \r\n332.18 4,080.34 14,661.62 \r\n19,074.14 \r\n \r\n$ \r\n \r\n5,140.51 \r\n \r\n3,669.07 \r\n \r\n$ \r\n \r\n8,809.58 \r\n \r\n250,774.13 $ \r\n \r\n$ 259,583.71 $ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n0.00 0.00 \r\n \r\nTotal Liabilities and Fund Equity See notes to the general purpose financial statements. \r\n-18- \r\n \r\n$ 286,324.69 $ \r\n \r\n------ 40,812.91 $ \r\n \r\n19,074.14 \r\n \r\n EXHIBIT\"E\" \r\n \r\nAND SECONDARY EDUCATION ACT \r\n \r\nTITLE II - \r\n \r\nEISENHOWER \r\n \r\nCHAPTER2 \r\n \r\nMATHEMATICS \r\n \r\nBLOCK GRANT - AND SCIENCE \r\n \r\nFLOW THROUGH EDUCATION \r\n \r\nINDIVIDUALS WITH \r\n \r\nDISABILITIES EDUCATION ACT \r\n \r\nTITLE VI, B \r\n \r\nFLOW \r\n \r\nPRESCHOOL \r\n \r\nTHROUGH \r\n \r\nPROGRAM \r\n \r\nTOTALS JUNE 30, 1994 JUNE 30, 1993 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n5,563.77 $ \r\n \r\n0.00 $ 284,552.87 $ 300,086.93 \r\n \r\n840.11 \r\n \r\n59,253.17 \r\n \r\n116,883.29 \r\n \r\n5,140.51 3,669.07 \r\n \r\n8,307.85 1,893.17 \r\n \r\n$ \r\n \r\n0.00 $ -=====0.-0=0 $ \r\n \r\n6,403.88 $ \r\n \r\n0.00 $ 352,615.62 $ 427,171.24 \r\n \r\n===== \r\n \r\n$ \r\n \r\n1,532.64 \r\n \r\n4,871.24 \r\n \r\n$ \r\n \r\n6,403.88 \r\n \r\n$ \r\n \r\n332.18 $ \r\n \r\n47,094.62 \r\n \r\n10,946.08 \r\n \r\n9,188.12 \r\n \r\n40,940.74 \r\n \r\n37,570.97 \r\n \r\n22.10 \r\n \r\n6,021.21 \r\n \r\n40,620.56 \r\n \r\n170.25 \r\n \r\n$ \r\n \r\n93,031.91 $ \r\n \r\n99,874.92 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n------ $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n$ \r\n$ 0.00 0.00 $ \r\n \r\n5,140.51 $ 3,669.07 \r\n8,809.58 $ \r\n250,774.13 259,583.71 $ \r\n \r\n8,307.85 1,893.17 \r\n10,201.02 \r\n317,095.30 327,296.32 \r\n \r\n0:00 $ \r\n \r\n6,403.88 $ --==-===-0=.=00= $ 352,615.62 $ 427,171.24 \r\n-19 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nSPECIAL REVENUE FUND YEAR ENDED JUNE 30, 1994 \r\n \r\nREVENUES \r\nState Funds Federal Funds Local and Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services \r\n- Total Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES \r\nOperating Transfers In \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures \r\nFUND BALANCE JULY 1 \r\nFood Inventory Donated Commodities July 1 June 30 Purchased Food July 1 June 30 \r\nFUND BALANCE JUNE 30 \r\nSee notes to the general purpose financial statements. \r\n \r\n-20- \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nELEMENTARY \r\n \r\nLOTTERY PROGRAMS \r\n \r\nCHAPTER 1 EDUCATION OF \r\nDEPRIVED CHILDREN \r\n \r\n$ 32,654.00 $ 308,378.64 207,245.88 \r\n$ 548,278.52 $ \r\n \r\n96,099.36 $ \r\n96,099.36 $ \r\n \r\n230,408.14 230,408.14 \r\n \r\n$ 46,195.84 $ \r\n \r\n224,726.24 \r\n \r\n$ 614,599.69 \r\n \r\n32,179.44 \r\n99.75 5,000.00 12,970.00 \r\n \r\n5,216.25 465.65 \r\n \r\n$ 614,599.69 $ $ -66,321.17 $ \r\n \r\n96,445.03 $ -345.67 $ \r\n \r\n230,408.14 0.00 \r\n \r\n$ -66,321.17 $ 327,296.32 \r\n \r\n345.67 \r\n0.00 $ 0.00 \r\n \r\n0.00 0.00 \r\n \r\n-8,307.85 5,140.51 -1,893.17 3,669.07 \r\n$ 259,583.71 $ \r\n \r\n------ 0.00 $ \r\n \r\n0.00 \r\n \r\n EXHIBIT\"F\" \r\n \r\nAND SECONDARY EDUCATION ACT \r\n \r\nTITLE II- \r\n \r\nEISENHOWER \r\n \r\nCHAPTER2 \r\n \r\nMATHEMATICS \r\n \r\nBLOCK GRANT - AND SCIENCE \r\n \r\nFLOW THROUGH EDUCATION \r\n \r\nINDIVIDUALS WITH \r\n \r\nDISABILITIES EDUCATION ACT \r\n \r\nTITLE VI, B \r\n \r\nFLOW \r\n \r\nPRESCHOOL \r\n \r\nTHROUGH \r\n \r\nPROGRAM \r\n \r\nTOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993 \r\n \r\n$ 128,753.36 $ \r\n \r\n31,958.00 \r\n \r\n$ \r\n \r\n11,260.00 $ \r\n \r\n7,000.00 $ \r\n \r\n61,488.11 $ 11,848.00 \r\n \r\n630,382.89 \r\n \r\n511,604.21 \r\n \r\n207,245.88 \r\n \r\n228,733.09 \r\n \r\n$ \r\n \r\n11,260.00 $ \r\n \r\n7,000.00 $ \r\n \r\n61,488.11 $ 11,848.00 $ 966,382.13 $ TT2,295.30 \r\n \r\n$ \r\n \r\n11,233.68 \r\n \r\n$ \r\n \r\n34,108.29 $ 10,344.61 $ 326,608.66 $ 180,063.47 \r\n \r\n$ 26.32 \r\n \r\n6,984.56 15.44 \r\n \r\n25,698.36 280.00 \r\n1,401.46 \r\n \r\n1,503.39 \r\n \r\n27,201.75 7,264.56 \r\n32,179.44 6,659.47 99.75 5,000.00 \r\n12,970.00 465.65 \r\n614,599.69 \r\n \r\n34,717.30 6,985.62 8,150.18 \r\n464,458.44 14,114.91 \r\n \r\n$ \r\n \r\n11,260.00 $ \r\n \r\n7,000.00 $ \r\n \r\n61,488.11 $ 11,848.00 $ 1,033,048.97 $ 708,489.92 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ -66,666.84 $ \r\n \r\n63,805.38 \r\n \r\n345.67 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ -66,321.17 $ \r\n \r\n63,805.38 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n327,296.32 \r\n \r\n271,759.56 \r\n \r\n-8,307.85 5,140.51 \r\n-1,893.17 3,669.07 \r\n \r\n-16,593.79 8,307.85 \r\n-1,875.85 1,893.17 \r\n \r\n----------------------- .$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ 259,583.71 $ 327,296.32 \r\n \r\n-21 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION STATEMENT OF CHANGES IN ASSETS AND LIABILITIES \r\nFIDUCIARY FUND TYPE - AGENCY FUND YEAR ENDED JUNE 30, 1994 \r\n \r\nEXHIBIT \"G\" \r\n \r\nPUBLIC LIBRARY FUND \r\nASSETS Cash and Cash Equivalents \r\n \r\nBALANCE JULY1,1993 \r\n \r\nADDITIONS \r\n \r\nBALANCE DEDUCTIONS JUNE 30, 1994 \r\n \r\n$ \r\n \r\n0.00 $ 37,443.18 $ 25,217.35 $ ==1=2=,2=2=5=.8=3 \r\n \r\nLIABILITIES Funds Held for Others \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n37,443.18 $ \r\n \r\n25,217.35 $ ====12=,2=2=5=.8=3 \r\n \r\nSee notes to the general purpose financial statements. \r\n-22- \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nYEAR ENDED JUNE 30 1994 \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\n \r\nCFDA NUMBER \r\n \r\nAWARDS IN PERIOD \r\n \r\nFEDERAL FUNDS RECEIVED IN PERIOD (NET OF REFUNDS) \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\nAgriculture, U.S. Department of Through Georgia Department of Administrative Services, Fiscal Division National Forest Reserve Funds Through Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1993 Grant 1994 Grant National School Lunch Program 1993 Grant 1994Grant National Education and Training Program 1994 Contract Food Distribution Program (1) \r\n \r\n10.665 $ \r\n10.553 10.553 10.555 10.555 10.564 10.550 \r\n \r\n306.27 $ \r\n66,626.21 200,914.98 \r\n5,000.00 35,837.45 \r\n \r\n306.27 $ \r\n \r\n306.27 \r\n \r\n(5) \r\n \r\n11,623.67 60,979.75 \r\n24,658.85 194,954.59 \r\n5,000.00 N/A \r\n \r\n66,626.21 \r\n \r\n(2) \r\n \r\n200,914.98 $ \r\n5,000.00 35,837.45 \r\n \r\n578,762.24 (3) \r\n(2) 35,837.45 \r\n \r\nTotal U. S. Department of Agriculture \r\n \r\n$ 308,684.91 $ \r\n \r\n297,523.13 $ 308,684.91 $ \r\n \r\n614,599.69 \r\n \r\nEducation, U. S. Department of Through Georgia Department of Education Elementary and Secondary Education Act Chapter 1 Education of Deprived Children 1993 Regular 1993 Carry-Over 1994 Regular Chapter2 Block Grant - Flow Through 1994 Regular Tdlell Eisenhower Mathematics and Science Education 1994 Regular Individuals with Disabilities Education Act Title VI, B Flow Through 1992 Carry-Over 1993 Regular 1993 Carry-Over 1994 Regular Preschool Program 1992 Carry-Over 1993 Regular 1993 Carry-Over 1994 Regular \r\n \r\n84.010 84.010 $ 84.010 \r\n \r\n$ 22,834.00 210,530.00 \r\n \r\n84.151 \r\n \r\n11,260.00 \r\n \r\n84.164 \r\n \r\n7,000.00 \r\n \r\n84.027 84.027 84.027 84.027 \r\n84.173 84.173 84.173 84.173 \r\n \r\n6,748.00 66,178.00 \r\n2,449.00 9,399.00 \r\n \r\n17,195.78 22,834.00 $ 188,500.00 \r\n \r\n22,834.00 $ 207,574.14 \r\n \r\n22,834.00 207,574.14 \r\n \r\n11,260.00 \r\n \r\n11,260.00 \r\n \r\n11,260.00 \r\n \r\n7,000.00 \r\n \r\n7,000.00 \r\n \r\n7,000.00 \r\n \r\n5,316.00 31,627.17 \r\n6,748.00 53,900.00 \r\n1,700.00 12,351.62 2,449.00 9,399.00 \r\n \r\n6,748.00 54,740.11 \r\n2,449.00 9,399.00 \r\n \r\n6,748.00 54,740.11 \r\n2,449.00 9,399.00 \r\n \r\n- 23 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nYEAR ENDED JUNE 30 1994 \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\n \r\nCFDA NUMBER \r\n \r\nAWARDS IN PERIOD \r\n \r\nFEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\nEducation, U. S. Department of \r\n \r\nThrough Georgia Department of Education \r\n \r\nVocational Education - Basic Grants to States \r\n \r\nHigh School Program \r\n \r\nBasic Grant \r\n \r\n1993 Grant \r\n \r\n84.048 \r\n \r\n$ \r\n \r\n2,350.00 \r\n \r\n1994 Grant \r\n \r\n84.048 $ \r\n \r\n5,000.00 \r\n \r\n4,020.00 $ \r\n \r\n5,000.00 \r\n \r\n(4) \r\n \r\nConsumer and Homemaking Education \r\n \r\n1994 Contract \r\n \r\n84.049 \r\n \r\n500.00 \r\n \r\n500.00 \r\n \r\n(4) \r\n \r\nThrough Pioneer Regional Educational \r\n \r\nService Agency \r\n \r\nCarl Perkins Vocational and Applied \r\n \r\nTechnology Education Act of 1990 \r\n \r\nApplied Curriculum \r\n \r\n1993 Grant \r\n \r\n84.048 \r\n \r\n7,946.00 \r\n \r\n1994Grant \r\n \r\n84.048 \r\n \r\n11,270.00 \r\n \r\n10,554.00 \r\n \r\n(4) \r\n \r\nTotal U.S. Department of Education \r\n \r\n$ 353,168.00 $ \r\n \r\n384,596.57 $ 338,058.25 $ \r\n \r\n322.004.25 \r\n \r\nTotal Federal Financial Assistance \r\n \r\n$ 661 1852.91 $ \r\n \r\n682:119.70 $ 646:743.16 $ ___9..,36.,_:60_3_94_ \r\n \r\nThe Board had no major programs as defined by the Single Audit Act of 1984. \r\n \r\n(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. \r\n(2) Expenditures for the School Breakfast Program and the National Education and Training Program were not maintained separately and are included in the 1994 National School Lunch Program. \r\n(3) Expenditures for this program include State, and/or Local and Other Funds. Expenditures are not maintained by fund source. \r\n(4) Expenditures on this program were not maintained by fund source. (5) Funds earned on this program do not require reporting of expenditures. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 24 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ANALYSIS OF CASH AND CASH EQUIVALENTS \r\nJUNE 30, 1994 \r\nINTEREST BEARING ACCOUNTS \r\nBank of Banks, Homer, Georgia \r\nCertificate of Deposit No. 218 (3.45%) Money Market Account (2.35%) N.O.W. Accounts (2.35%) \r\n \r\nSCHEDULE \"2\" \r\n$ 103,624.64 5,335.82 \r\n343,704.48 $ 452,664.94 \r\n \r\nSee notes to the general purpose financial statements. - 25 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30, 1994 \r\n \r\nSCHEDULE \"3\" \r\n \r\nBanks County Primary School Reimbursement for After School Program \r\nEducation, Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education State Funds Federal Funds Lottery Programs Computers in Classrooms Distant Learning Federal Programs ESEA - Chapter 1 Education of Deprived Children Individuals with Disabilities Education Act Title VI, B - Flow Through \r\nGeneral Electric Capital Corporation Reimbursement for Expenses \r\nNinth District Opportunity, Incorporated Reimbursement for Expenses \r\nPioneer Regional Educational Service Agency Vocational and Applied Technology Grant \r\n\" \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n3,187.59 \r\n \r\n$ \r\n \r\n3,187.59 \r\n \r\n$ \r\n8,409.66 1,480.00 \r\n \r\n5,646.46 5,960.39 \r\n22,254.22 3,070.05 \r\n \r\n19,074.14 840.11 \r\n \r\n53,386.00 \r\n \r\n2,407.80 \r\n \r\n10,554.00 \r\n \r\n5,646.46 5,960.39 8,409.66 1,480.00 22,254.22 3,070.05 \r\n19,074.14 840.11 \r\n53,386.00 \r\n2,407.80 \r\n10,554.00 \r\n \r\n$ \r\n \r\n77,017.25 $ \r\n \r\n59,253.17 $ \r\n \r\n136,270.42 \r\n \r\nSee notes to the general purpose financial statements. - 26 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 1994 \r\n \r\nSCHEDULE \"4\" \r\n \r\nAGENCY/FUNDING \r\nGRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Sparsity Grant Middle School Incentive Special Instructional Assistance In-School Suspension Mid-term Adjustment Fiscal Year 1993 Year 1994 Year Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education _ Other State Programs Governor's Emergency Funds (1) Preschool Handicapped Program Supervision and Assessment of Student and Beginning Teachers and PerformanceBased Certification Teachers' Retirement Lottery Programs Algebra Classrooms Computers in Classrooms Distant Leaming Media Center and Library Equipment Safe Schools Grant \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 2,826,901.00 \r\n422,531.00 49,907.00 \r\n118,441.00 39,122.00 \r\n837,351.00 \r\n271,524.00 90,011.00 58,495.00 \r\n103,943.00 37,626.00 67,095.00 \r\n \r\n$ 2,826,901.00 \r\n422,531.00 49,907.00 \r\n118,441.00 39,122.00 \r\n837,351.00 \r\n271,524.00 90,011.00 58,495.00 \r\n103,943.00 37,626.00 67,095.00 \r\n \r\n3,266.00 148,237.00 -1,065,289.00 \r\n5,542.00 \r\n$ \r\n220,563.21 \r\n4,000.00 13,969.00 \r\n \r\n32,654.00 \r\n \r\n3,266.00 148,237.00 -1,065,289.00 \r\n5,542.00 32,654.00 220,563.21 \r\n4,000.00 13,969.00 \r\n \r\n750.00 8,624.60 \r\n \r\n2,316.00 40,474.17 \r\n3,060.00 32,179.44 18,069.75 \r\n \r\n750.00 8,624.60 \r\n2,316.00 40,474.17 \r\n3,060.00 32,179.44 18,069.75 \r\n \r\n$ 4,262,609.81 $ \r\n \r\n128,753.36 $ 4,391,363.17 \r\n \r\n(1) The purpose of these funds is to provide for Band Uniforms. \r\n \r\nSee notes to the general purpose financial statements. - 27 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE \r\nYEAR ENDED JUNE 30, 1994 \r\n \r\nSCHEDULE \"5\" \r\n \r\nTaxes County Wide School Tax Railroad Car Tax Real Estate Transfer Tax \r\nOther Compensation for Loss of Assets Interest Earned Lost and Damaged Books Recovery from Milk Antitrust Lawsuit Reimbursements For After School Program Banks County Primary School After School Program For Grass Roots Program The Arts Council Banks County Primary School Sales Meals School Assets Shared Service Contributions Ninth District Opportunity, Incorporated Pioneer Regional Educational Service Agency Tuition Other \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 2,222,987.00 \r\n36.99 14,281.28 \r\n \r\n$ 2,222,987.00 \r\n36.99 14,281.28 \r\n \r\n383.00 \r\n10,419.26 $ \r\n173.29 \r\n \r\n6,933.67 747.59 \r\n \r\n383.00 17,352.93 \r\n173.29 747.59 \r\n \r\n19,672.48 631.00 500.00 \r\n2,896.83 455.00 \r\n1,269.00 475.88 \r\n \r\n198,924.11 640.51 \r\n \r\n19,672.48 \r\n631.00 500.00 \r\n198,924.11 640.51 \r\n2,896.83 455;00 \r\n1,269.00 475.88 \r\n \r\n$ 2,274,181.01 $ 207,245.88 $ 2,481,426.89 \r\n \r\nSee notes to the general purpose financial statements. - 28 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \r\nGOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1994 \r\n \r\nSCHEDULE \"6\" \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nTOTAL \r\n \r\nEXPENDITURES \r\n \r\nOperating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Compensation of Board Members Water, Sewer and Cleaning Services Repair and Maintenance Services Rents Insurance Communications Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Interest Expense Other Expenditures \r\n \r\n$ 4,056,661.08 $ 1,147,260.69 17,023.56 18,635.21 4,350.00 22,800.86 112,919.41 700.00 14,215.06 11,760.43 \r\n8,633.70 27,720.59 162,354.54 196,908.31 \r\n64,710.09 8,816.25 \r\n11,880.00 4,750.00 \r\n \r\n291,605.42 65,353.49 3,972.52 28,762.78 \r\n7,800.01 \r\n14.40 2,579.47 \r\n64,286.03 267.00 \r\n252,188.82 5,560.81 2,653.00 \r\n38.34 \r\n \r\n$ 4,348,266.50 \r\n1,212,614.18 20,996.08 47,397.99 4,350.00 22,800.86 \r\n120,719.42 700.00 \r\n14,215.06 11,774.83 \r\n2,579.47 8,633.70 27,720.59 226,640.57 197,175.31 252,188.82 70,270.90 11,469.25 11,880.00 4,788.34 \r\n \r\nNonoperating Costs Principal and Interest Building and Building Improvements Equipment \r\n \r\n48,941.20 241,986.17 \r\n \r\n$ 742,853.33 \r\n307,966.88 \r\n \r\n48,941.20 742,853.33 549,953.05 \r\n \r\nTotal Expenditures \r\n \r\n$ 6,183,027.15 $ 1,033,048.97 $ 742,853.33 $ 7,958,929.45 \r\n \r\nSee notes to the general purpose financial statements. - 29 - \r\n \r\n BANKS COUN1Y BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \r\nLOTTERY PROGRAMS YEAR ENDED JUNE 30 1994 \r\n \r\nSCHEDULE '7\" \r\n \r\n~Pl;t:iQ!Il!BES \r\nOperating Costs Supplies \r\nNonoperating Costs Equipment \r\n \r\nALGEBRA CLASSROOMS \r\n \r\nCOMPUTERS IN \r\nCLASSROOMS \r\n \r\nMEDIA CENTER AND \r\nLIBRARY EQUIPMENT \r\n \r\nSAFE SCHOOLS \r\nGRANT \r\n \r\nG.P.T.C. DISTANT LEARNING \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n2,661.67 $ \r\n \r\n1,265.25 \r\n \r\n$ \r\n \r\n3,060.00 $ \r\n \r\n6,986.92 \r\n \r\n39,208.92 $ \r\n \r\n32,179.44 $ 18,069.75 \r\n \r\n89,458.11 \r\n \r\nTotal Expenditures $ \r\n \r\n21661.67 $ \r\n \r\n40 474.17 $ \r\n \r\n321179.44 $ 181069.75 $ \r\n \r\n31060.00 $ 961445.03 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 30 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1994 \r\n \r\nSCHEDULE \"8\" \r\n \r\nMinimum Expenditure Requirements (Total Allotment) \r\nExpenditures on Combined Program Basis Salaries Operations \r\nLess: Expenditures for Media Center Program in Excess of Total Media Allotment Expenditures for Staff Development Programs in Excess of Total Staff Development Allotment for: Cost of Instruction \r\nExpenditures per Audit \r\nAmount of Underexpenditure for Total Allotment \r\n \r\nTHIRTEEN WEIGHTED AND MEDIA CENTER \r\nPROGRAMS \r\n \r\nSTAFF DEVELOPMENT \r\nPROGRAM \r\n \r\n$ 3,566,017.00 $ \r\n \r\n39,122.00 \r\n \r\n$ 3,459,077.31 199,149.69 $ \r\n$ 3,658,227.00 $ \r\n \r\n41,628.97 41,628.97 \r\n \r\n-86,937.89 \r\n \r\n$ 3,571,289.11 $ \r\n \r\n-5,681.00 35,947.97 \r\n \r\n$ \r\n \r\n0.00 $ ======:l3'=17=4=.0=3 \r\n \r\nSee notes to the general purpose financial statements. - 31 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30. 1994 \r\n \r\n~E~EMI. ~~ CAREER Ei;\u0026!Q8TION PROGRAMS Kindergarten (\") Grades 1 - 3 (\") Sub-Total - K-3 Grades 4 - 5 (\") Grades 6 - 8 (\") Grades 9- 12 (\") High School Laboratories (\") Vocational Education Laboratories (\") Total General and Career Education Programs \r\nSPECIAL EDUCATION PROGRAMS Regular Programs Category I (\") Category 11 (\") Category 111 (\") Category IV (\") Hinerant Supplemental Speech Sub-Total - Regular Category V (Gifted) (\") Total Special Education Programs \r\nBE~Q!A!. EDUCATION PROGRAM 0 \r\nMEDIA CENTER ffiOGRAMS \r\nTotal Thirteen Weighted and Media Center \r\nSTAFF Q~LOPMENT PRQQRAMS (1) Cost cl Instruction Professional Development \r\nTotal Staff Development \r\n(\") Identifies Thirteen Weighted Programs. Note: (1) $4,549.35 ol the allotment for Professional \r\nDevelopment has been transferred to Cost of Instruction as authorized by OCGA 20-2-182. See notes to the general purpose financial statements. \r\n \r\nALLOTMENTS FROM DEPARTMENT OF EDUCATION \r\n \r\nREQUIRED \r\n \r\nTOTAL \r\n \r\nORIGINAL _JL \r\n \r\nORIGINAL \r\n \r\nMID-TERM \r\n \r\nREQUIRED \r\n \r\n$ \r\n \r\n260.380.00 \r\n \r\n$ \r\n \r\n234,342.00 $ \r\n \r\n644,291.00 \r\n \r\n579,861.90 \r\n \r\n$ \r\n \r\n904,671.00 90 $ \r\n \r\n814,203.90 $ \r\n \r\n380,440.00 90 \r\n \r\n342,396.00 \r\n \r\n644,823.00 90 \r\n \r\n580,340.70 \r\n \r\n445,991.00 90 \r\n \r\n401,391.90 \r\n \r\n210,975.00 90 \r\n \r\n189,BTT.50 \r\n \r\n240,001.00 90 \r\n \r\n216,000.90 \r\n \r\n$ 2,826,901.00 \r\n \r\n$ 2,544,210.90 $ \r\n \r\n31,237.00 $ 31,237.00 $ 106,000.00 11,000.00 \r\n148,237.00 $ \r\n \r\n265,579.00 579,861.90 845,440.90 448,396.00 591,340.70 401,391.90 189,BTT.50 216,000.90 2,692,447.90 \r\n \r\n$ \r\n \r\n399,557.00 \r\n \r\n$ \r\n \r\n359,601.30 $ \r\n \r\n0.00 $ \r\n \r\n359,601.30 \r\n \r\n$ \r\n \r\n399,557.00 90 $ \r\n \r\n359,601.30 $ \r\n \r\n22,974.00 90 \r\n \r\n20,676.60 \r\n \r\n$ \r\n \r\n422,531.00 \r\n \r\n$ \r\n \r\n380,2TT.90 $ \r\n \r\n$ \r\n \r\n49,907.00 90 $ \r\n \r\n44,916.30 $ \r\n \r\n$ \r\n \r\n118,441.00 90 $ \r\n \r\n106,596.90 $ \r\n \r\n0.00 $ \r\n0.00 $ 0.00 $ 0.00 $ \r\n \r\n359,601.30 20,676.60 \r\n380,2TT.90 44,916.30 \r\n106,596.90 \r\n \r\n$ 3,417,780.00 \r\n \r\n$ 3,076,002.00 $ \r\n \r\n148,237.00 $ 3,224,239.00 \r\n \r\n$ \r\n \r\n13,342.35 100 $ \r\n \r\n13,342.35 $ \r\n \r\n25,779.65 100 \r\n \r\n25,779.65 \r\n \r\n0.00 $ \r\n \r\n13,342.35 25,779.65 \r\n \r\n$ \r\n \r\n39,122.00 \r\n \r\n$ \r\n \r\n39,122.00 $ \r\n \r\n0.00 $ \r\n \r\n39,122.00 \r\n \r\n$ 3,456,902.00 \r\n \r\n$ 3,115,124.00 $ \r\n \r\n148,237.00 $ 3,263,361.00 \r\n \r\n- 32  \r\n \r\n SCHEDULE\"9\" \r\n \r\nREQUIRED ALLOTMENT \r\n \r\nDISTRIBUTION BY RESPECTNE PORTIONS \r\n \r\nSALARIES \r\n \r\nAMOUNT OF \r\n \r\nUNDEREXPENDITURE \r\n \r\nFOR REQUIRED \r\n \r\nREQUIRED \r\n \r\nACTUAL \r\n \r\nALLOTMENT \r\n \r\nALLOTMENT \r\n \r\nOPERATIONS ACTUAL \r\n \r\nAMOUNT OF UNDEREXPENDITURE \r\nFOR REQUIRED ALLOTMENT \r\n \r\n$ \r\n \r\n259,721.80 $ \r\n \r\n296,172.60 \r\n \r\n562,274.10 \r\n \r\n619,684.29 \r\n \r\n$ \r\n \r\n821,995;90 $ \r\n \r\n915,856.89 $ \r\n \r\n'432,346.60 \r\n \r\n439,680.89 \r\n \r\n563,849.10 \r\n \r\n665,899.07 \r\n \r\n384,455.70 \r\n \r\n398,884.11 \r\n \r\n181,897.20 \r\n \r\n172,639.52 \r\n \r\n189,029.70 \r\n \r\n187,714.94 \r\n \r\n$ 2,573,574.20 $ 2,780,675.42 $ \r\n \r\n$ \r\n \r\n5,857.20 $ \r\n \r\n6,093.50 \r\n \r\n17,587.80 \r\n \r\n23,019.69 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n23,445.00 $ \r\n \r\n29,113.19 $ \r\n \r\n0.00 \r\n \r\n16,049.40 \r\n \r\n18,983.56 \r\n \r\n0.00 \r\n \r\n27,491.60 \r\n \r\n28,642.35 \r\n \r\n0.00 \r\n \r\n16,936.20 \r\n \r\n30,496.17 \r\n \r\n9,257.68 \r\n \r\n7,980.30 \r\n \r\n14,110.70 \r\n \r\n1,314.76 \r\n \r\n26,971.20 \r\n \r\n39,773.89 \r\n \r\n10,572.44 \r\n \r\n$ \r\n \r\n118,873.70 $ \r\n \r\n161,119.86 $ \r\n \r\n0.00 0.00 0.00 0.00 0.00 0.00 0.00 \r\n \r\n$ \r\n \r\n15,096.60 $ \r\n \r\n6,954.89 \r\n \r\n111,481.20 \r\n \r\n102,294.37 \r\n \r\n211,348.80 \r\n \r\n273,577.36 \r\n \r\n10,062.90 \r\n \r\n9,250.69 \r\n \r\n909.00 \r\n \r\n1,862.10 \r\n \r\n$ \r\n \r\n738.90 $ \r\n \r\n740.00 \r\n \r\n2,278.80 \r\n \r\n2,304.41 \r\n \r\n5,494.50 \r\n \r\n6,785.57 \r\n \r\n328.50 \r\n \r\n387.02 \r\n \r\n$ \r\n \r\n350,760.60 $ \r\n \r\n392,077.31 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n8,840.70 $ \r\n \r\n10,217.00 $ \r\n \r\n0.00 \r\n \r\n20,129.40 \r\n \r\n44,052.74 $ \r\n \r\n0.00 \r\n \r\n547.20 \r\n \r\n1,295.28 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n370,890.00 $ \r\n \r\n436,130.05 \r\n \r\n$ \r\n \r\n9,387.90 $ \r\n \r\n11,512.28 \r\n \r\n$ \r\n \r\n44,160.30 $ \r\n \r\n62,635.50 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n756.00 $ \r\n \r\n775.00 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n82,699.20 $ \r\n \r\n179,636.34 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n23,897.70 $ \r\n \r\n25,742.55 $ \r\n \r\n0.00 \r\n \r\n$ 3,071,323.70 $ 3,459,077.31 $ \r\n \r\n10,572.44 \r\n \r\n$ \r\n \r\n152,915.30 $ \r\n \r\n199,149.69 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n13,342.35 $ \r\n \r\n19,023.35 $ \r\n \r\n25,779.65 \r\n \r\n22,605.62 \r\n \r\n0.00 3,174.03 \r\n \r\n$ \r\n \r\n39,122.00 $ \r\n \r\n41,628.97 , _ _ _ _ _3_,1_7_4._03_ \r\n \r\n$ 3,071,323.70 $ 3,459,077.31 , _ _ _ _1_0._s1_2_.44_ \r\n \r\n$ \r\n \r\n192,037.30 $ \r\n \r\n240,778.66 , _ _ _ _ _3_1,..,7_4._03_ \r\n \r\n- 33 - \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION OF BOARD MEMBERS \r\nYEAR ENDED JUNE 30, 1994 \r\n \r\nSCHEDULE \"1 O\" \r\n \r\nBOARD MEMBER ADDRESS \r\nMr. Dave Rylee, Chairman (*) 1733 GA Hwy. 98N Maysville, Georgia 30558 \r\nMr. Conrad Boling(*) Route 1, Box 239 Baldwin, Georgia 30511 \r\nMr. Len B. Dalton, Jr. (*) 5433 Hwy. 441N Baldwin, Georgia 30511 \r\nMr. Bo Garrison \r\nP. 0. Box42 \r\nHomer, Georgia 30547 \r\nMr. Don Shubert (*) \r\nP. 0. Box267 \r\nCommerce, Georgia 30529 \r\nMrs. Sherri Smith (*) 126 Temple Road Homer, Georgia 30547 \r\n \r\n$ \r\n \r\n1,000.00 \r\n \r\n850.00 \r\n \r\n950.00 \r\n \r\n500.00 \r\n \r\n1,000.00 \r\n \r\n50.00 \r\n \r\n------ $ \r\n \r\n4,350.00 \r\n \r\n(*) Denotes Board Members Serving as of June 30, 1994 \r\n \r\nSee notes to the general purpose financial statements. - 34 - \r\n \r\n SECTION II COMPLIANCE \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 13, 1995 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements of the Banks County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 13, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\nWe conducted our audit in accordance with generally accepted auditing standards and Government Auditing \r\nStandards, issued by the Comptroller General of the United States. Those standards require that we plan and petform the audit to obtain reasonable assurance about whether the general purpose financial statements are free ofmaterial misstatement. \r\nCompliance with laws, regulations, contracts, and grants applicable to Banks County Board of Education is the responsibility ofthe Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective of our audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion. \r\nThe results ofour tests indicate that, with respect to the items tested, the Banks County Board of Education \r\ncomplied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Board had not complied, in all material respects, with those provisions. \r\n \r\n94CRL-10 \r\n \r\n This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:gp 94CRL-10 \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 13, 1995 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board of Education \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\n \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\n \r\nLadies and Gentlemen: \r\n \r\nWe have audited the general purpose financial statements of the Banks County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated March 13, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpo~e financial statements. \r\n \r\nWe have applied procedures to test the Banks County Board of Education's compliance with the following requirements applicable to each of its Federal financial assistance programs, which are listed in the Schedule of Federal Financial Assistance, for Jhe year ended June 30, 1994: \r\n \r\n(1) Political Activity \r\n \r\n(5) Allowable Costs/Cost Principles \r\n \r\n(2) Civil Rights \r\n \r\n(6) Audit Follow-Up/Resolution \r\n \r\n(3) Cash Management \r\n \r\n(7) Administrative Requirements \r\n \r\n(4) Federal Financial Reports \r\n \r\nOur procedures were limited to the applicable procedures described in the Office ofManagement and Budget's \"Compliance Supplement for Single Audits of State and Local Governments\" and other additional procedures as deemed necessary. Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Board's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. \r\n \r\n94CRL-50 \r\n \r\n With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph of this report. With respect to items not \r\ntested, nothing came to our attention that caused us to believe that the Banks County Board ofEducation had \r\nnot complied, in all material respects, with those requirements. However, the results of our procedures disclosed an immaterial instance ofnoncompliance with those requirements, which is described in the Schedule ofFindings and Improper or Questioned Costs. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:gp 94CRL-50 \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 13, 1995 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\n \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \r\n \r\nLadies and Gentlemen: \r\n \r\nWe have audited the general purpose financial statements of the Banks County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 13, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\n \r\nIn connection with our audit ofthe fiscal year 1994 general purpose financial statements ofthe Banks County Board ofEducation and with our consideration of the Board's internal control structure used to administer Federal financial assistance programs, as required by Office ofManagement and Budget (0MB) Circular A128, \"Audits of State and Local Governments\", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1994. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements goverrung: \r\n \r\n(I) Types of Services Allowed or Unallowed \r\n \r\n(2) Eligibility \r\n \r\nOur procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Banks County Board ofEducation's compliance with these requirements. Accordingly, we do not express such an opinion. \r\n \r\n94CRL-120 \r\n \r\n With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Banks County Board of Education had not complied, in all material respects, with those requirements. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:gp 94CRL-120 \r\n \r\n SECTION Ill INTERNAL CONTROL \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 13, 1995 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements of the Banks County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 13, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\nWe conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. \r\nIn plarutlng and performing our audit of the general purpose financial statements ofthe Banks County Board of Education for the year ended June 30, 1994, we considered the internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide assurance on the internal control structure. \r\nThe management ofthe Banks County Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not \r\n94ICL-3 \r\n \r\n be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. \r\n \r\nFor the purposes of this report, we have classified the significant internal control structure policies and procedures in the following categories: \r\n \r\n(I) Cash and Cash Equivalents \r\n \r\n(6) Employee Compensation \r\n \r\n(2) Inventories \r\n \r\n(7) General Ledger \r\n \r\n(3) Revenue/Receivables/Receipts \r\n \r\n(8) General Fixed Assets \r\n \r\n(4) Procurement \r\n \r\n(5) Expenditures/Liabilities/ Disbursements \r\n \r\nFor all ofthe internal control categories listed above, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk. \r\n \r\nWe noted certain matters involving the internal control structure and its operation that we consider to be reportable conditions under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements. \r\n \r\nAs described in the Schedule ofFindings and Improper or Questioned Costs, reportable conditions were noted in the following control categories: \r\n \r\n(I) Accounting Controls (Overall) \r\n \r\n(2) General Fixed Assets \r\n \r\nA material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. \r\n \r\nOur consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that all ofthe reportable conditions disclosed above are also considered to be material weaknesses. \r\n \r\n94ICL-3 \r\n \r\n These conditions were considered in determining the nature, timing, and extent of the procedures to be performed in our audit ofthe Banlcs County Board ofEducation's financial statements and this report does not affect our report thereon dated March 13, 1995.  \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:gp 94ICL-3 \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 13, 1995 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Banks County Board ofEducation \r\nSINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements of the Banks County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 13, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\nWe conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and the provisions of Office of Management and Budget (0MB) Circular A-128, \"Audits ofState and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the Banks County Board ofEducation complied with laws and regulations, noncompliance with which would be material to a Federal financial assistance program. \r\nIn planning and performing our audit for the year ended June 30, 1994, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the Board's general purpose financial statements and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated March 13, 1995. \r\nThe management ofthe Banks County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required \r\n94ICL-15 \r\n \r\n to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that Federal financial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. \r\n \r\nFor the purpose of this report, we have classified the significant internal control structure policies and procedures used in administering Federal financial assistance programs in the following control categories: \r\n \r\nGENERAL REQUIREMENTS \r\n \r\nSPECIFIC REQUIREMENTS \r\n \r\n(I) Political Activity (2) Civil Rights (3) Cash Management (4) Federal Financial Reports \r\n \r\n(I) Types of Services Allowed or Unallowed \r\n(2) Eligibility \r\n(3) Matching, Level ofEffort, and/or Earmarking \r\n \r\n(5) Allowable Costs/Cost Principles \r\n \r\n(4) Reporting \r\n \r\n(6) Audit Follow-Up/Resolution (7) Administrative Requirements \r\n \r\n(5) Applicable Special Tests and Provisions \r\n(6) Other Requirement Claims for Advances and Reimbursements \r\n \r\nFor all of the internal control structure categories listed above, we obtained an understanding ofthe design of relevant policies and procedures and determined whether they have been placed in operation, and we assessed control risk. \r\n \r\nDuring the year ended June 30, 1994, the Banks County Board ofEducation had no major Federal financial assistance programs and expended 67% ofits total Federal financial assistance under the following nonmajor Federal financial assistance programs: \r\n \r\nFood and Nutrition Program Food Services National School Lunch Program \r\nElementary and Secondary Education Act - Chapter I Education ofDeprived Children \r\n \r\n94ICL-15 \r\n \r\n We performed tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements, and specific requirements, as described above that are applicable to the aforementioned nonmajor programs. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. \r\nWe noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the Board's ability to administer Federal financial assistance programs in accordance with applicable laws and regulations. \r\nAs descnbed in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category: \r\nAdministrative Requirements \r\nA material weakness is a reportable condition in which the design or operation of one or more ofthe internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. \r\nOur consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition described above is also considered to be a material weakness. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution ofthis report which is a matter of public record. \r\nRespectfully submitted, \r\n \r\nCLV:gp 94ICL-15 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1994 \r\n \r\nPRIOR YEAR \r\n \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $22,218.89 Audit Control Number 6061-93-03 \r\n \r\nThe audit report for the year ended June 30, 1993, stated that the Banks County Board of Education had \r\n \r\nunderexpenditures ofQuality Basic Education (QBE) funds of $14,723.91 for the salaries portion ofthe High \r\n \r\nSchool Laboratories Program and $7,494.98 for the salaries portion ofthe Vocational Education Laboratories \r\n \r\nProgram. For the year under review, no adjustment was made to the Board's local fair share by the Georgia \r\n \r\nDepartment ofEducation to refund the underexpenditure as required. The total amount of$22,218.89 should \r\n \r\nbe returned to the Georgia Department of Education through an increase in the Board's local fair share for \r\n \r\nQBE programs in a subsequent fiscal year. \r\n \r\n \r\n \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $2,051.66 Audit Control Number 6061-93-04 \r\n \r\nThe audit report for the year ended June 30, 1993, disclosed that the Staff Development - Professional Development Stipends Program had an underexpenditure of Quality Basic Education (QBE) funds of $2,051.66 for the required minimum allotment. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department 9fEducation to refund this underexpenditure as required. The underexpenditure of $2,051.66 should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for QBE programs in a subsequent fiscal year. \r\n \r\nAUDIT.FOLLOW-UP/RESOLUTION Salary Overpayment Financial Statements Finding Resolved Audit Control Number 6061-93-05 \r\n \r\nThe audit report for the year ended June 30, 1993, reported two instances where employees were overpaid in the amount of$100.00 each. In the year under review, the two individual's teaching contracts were adjusted to compensate for these overpayments. \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND Thfl\u003eROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1994 \r\nPRIOR YEAR/CURRENT YEAR \r\nACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation ofDuties Reportable Condition - Material Weakness Audit Control Number 6061-93-01 \r\nThe audit report for the year ended June 30, 1993, stated that the Board did not provide for adequate separation ofemployee duties in the performance ofaccounting functions and related procedures. For the year under review, some improvements were made regarding separation of employee duties; however, the Board still did not achieve an adequate degree of internal control. This deficiency was a result of management not assigning employee duties in a manner to adequately safeguard assets and/or promote efficiency and accuracy in key accounting functions. The management ofthe Banks County Board of Education should formulate and implement changes in personnel to achieve an adequate system ofinternal control for key accounting functions. \r\nNote: Federal financial assistance programs affected by this finding are as follows: Food and Nutrition Program School Breakfast Program (CFDA 10.553) National School Lunch Program (CFDA 10.555) Food Distribution Program (CFDA 10.550) \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6061-93-02 \r\nThe audit report for the year ended June 30, 1993, noted that the management ofthe Banks County Board of Education had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidimy records should include an inventory ofland, buildings and equipment owned by the Board and should include but may not be limited to date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1994 \r\nCURRENT YEAR \r\nEXPENDITURES/LIABILITIES/DISBURSEMENTS Failure to Meet Expenditure Requirements Financial Statements Nonmaterial Noncompliance Amount: $10,572.44 Audit Control Number 6061-94-01 \r\nFor the year under review, the Board had underexpenditures of Quality Basic Education (QBE) funds of $9,257.68 for the salaries portion of the High School Laboratories Program and $1,314.76 for the salaries portion ofthe Vocational Education Laboratories Program. \r\nThis questioned cost resulted from management's decision not to hire additional staff for these programs. These funds should be returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period. \r\nEXPENDITURES/LIABILITIES/DISBURSEMENTS Failure to Meet Expenditure Requirements Financial Statements Nonmaterial Noncompliance Amount: $3,174.03 Audit Control Number 6061-94-02 \r\nFor the year under review, the Banks ~ounty Board of Education reported to the Georgia Department of Education on DE form 0420 \"General Fund QBE Program Expenditure Summary\" expenditures totaling $19,023.35 for the Staff Development - Cost of Instruction Program. A review of the underlying source documentation for the Quality Basic Education (QBE) Program disclosed the Board expended more than 15 percent ofits initial allotment of funds for Professional Development Stipends for StaffDevelopment - Cost of Instruction Program purposes resulting in an underexpenditure of $3,174.03 for the minimum required allotment of$25,779.65 for the StaffDevelopment - Professional Development Stipends Program. \r\nThis questioned cost resulted from management's reliance on incorrect information received from the Georgia Department of Education, resulting in a violation of the Official Code of Georgia 20-2-182. These funds should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period. \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1994 \r\nCURRENT YEAR \r\nEXPENDITURES/I.JABil.JTIES/DISBURSEMENTS Unearned Lottery Funds Financial Statements Nonmaterial Noncompliance Amount: $170.25 Audit Control Number 6061-94-03 \r\nFor the year under review it was disclosed that the Board had received $170.25 in lottery funds in excess of \r\nthe amount needed to cover expenditures and year end encumbrances. This balance is the result of the Board's failure to refund amounts that were not earned or encumbered at year end. Accordingly, unearned lottery funds in the amount of $170.25 should be refunded to the Georgia Department of Education. \r\nAUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Nonmaterial Noncompliance Finding Resolved Audit Control Number 6061-94-04 \r\nThe Board failed to submit a copy of the 1993 audit report to the Pioneer Regional Educational Service Agency from whom the Board received Carl Perkins Vocational and Applied Technology Education Act of 1990 Applied Curriculum Program (CFDA 84.048) funds. Paragraph 13fofOMB Circular A-128 requires that the recipients of Federal financial assistance submit copies of single audit reports to those agencies providing Federal financial assistance. However, once informed of this deficiency management did submit the required report. \r\n \r\n SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\nYEAR ENDED JUNE 30, 1994 \r\n \r\nACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation ofDuties Reportable Condition - Material Weakness Audit Control Number 6061-93-01 \r\n \r\nDuring FY 95 this finding has been corrected by the Board assigning two persons to check all invoices and receive the products in the school, and then to sign-off on the invoices. This was sufficient to provide for separation of duties. \r\n \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6061-93-02 \r\n \r\nWe concur with this recommendation. Due to current staffing limitations and budgetary considerations prohibiting the hiring of additional administrative staff, the Board has decided not to pursue the recording of general fixed assets on the financial statements. \r\n \r\nEXPENDITURES/LIABILITIES/DISBURSEMENTS \r\n \r\nFailure to Meet Expenditure Requirements \r\n \r\nFinancial Statements \r\n \r\nNonmaterial Noncompliance \r\n \r\nAmount: $10,572.44 \r\n \r\n \r\n \r\nAudit Control Number 6061-94-01 \r\n \r\nWe concur with this finding. This finding will be resolved by the Georgia Department ofEducation through an increase on the Board's local fair share for the QBE programs in fiscal year 1996. \r\n \r\nEXPENDITURES/LIABILITIES/DISBURSEMENTS Failure to Meet Expenditure Requirements Financial Statements Nonmaterial Noncompliance Amount: $3,174.03 Audit Control Number 6061-94-02 \r\n \r\nWe concur with this finding. This finding will be resolved by the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in fiscal year 1996. \r\n \r\n BANKS COUNTY BOARD OF EDUCATION SCHEDULE OF PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\nYEAR ENDED JUNE 30, 1994 \r\nEXPENDITURES/LIABILITIES/DISBURSEMENTS Unearned Lottery Funds Financial Statements Nonmaterial Noncompliance Amount: $170.25 Audit Control Number 6061-94-03 \r\nWe concur with this finding. This finding has been resolved by issuing a check to the Georgia Department of \r\nEducation for $170.25. \r\nAUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Nonmaterial Noncompliance Finding Resolved Audit Control Number 6061-94-04 \r\nWe concur with the resolution of this finding. \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":6,"first_page?":true,"last_page?":true},"facets":[{"name":"type_facet","items":[{"value":"Text","hits":6}],"options":{"sort":"count","limit":16,"offset":0,"prefix":null}},{"name":"creator_facet","items":[{"value":"Georgia. Department of Audits","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"subject_facet","items":[{"value":"Banks County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","hits":6},{"value":"Education--Georgia--Banks County--Auditing--Periodicals.","hits":6},{"value":"Education--Georgia--Banks County--Finance--Statistics--Periodicals.","hits":6},{"value":"Georgia Government Documents--Serial","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"location_facet","items":[{"value":"United States, Georgia, Banks County, 34.35413, -83.49737","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"counties_facet","items":[{"value":"Banks","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"year_facet","items":[{"value":"1994","hits":1},{"value":"1995","hits":1},{"value":"1996","hits":1},{"value":"1997","hits":1},{"value":"1998","hits":1},{"value":"1999","hits":1}],"options":{"sort":"count","limit":100,"offset":0,"prefix":null},"min":"1994","max":"1999","count":6,"missing":0},{"name":"medium_facet","items":[{"value":"state government records","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"fulltext_present_b","items":[{"value":"true","hits":6}],"options":{"sort":"count","limit":100,"offset":0,"prefix":null}},{"name":"rights_facet","items":[{"value":"http://rightsstatements.org/vocab/InC/1.0/","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"collection_titles_sms","items":[{"value":"Georgia Government Publications","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"serial_titles_sms","items":[{"value":"Audit report, Banks County Board of Education, Homer, Georgia.","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"provenance_facet","items":[{"value":"University of Georgia. Map and Government Information Library","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"call_numbers_sms","items":[{"value":"A800 .R1 E26 B2","hits":6},{"value":"A800 .R1 E26 B2 1993-94","hits":1},{"value":"A800 .R1 E26 B2 1994-95","hits":1},{"value":"A800 .R1 E26 B2 1995-96","hits":1},{"value":"A800 .R1 E26 B2 1996-97","hits":1},{"value":"A800 .R1 E26 B2 1997-98","hits":1},{"value":"A800 .R1 E26 B2 1998-99","hits":1}],"options":{"sort":"count","limit":100,"offset":0,"prefix":null}},{"name":"class_name","items":[{"value":"Item","hits":6}],"options":{"sort":"count","limit":100,"offset":0,"prefix":null}},{"name":"geojson","items":[{"value":"{\"type\":\"Feature\",\"geometry\":{\"type\":\"Point\",\"coordinates\":[-83.49737, 34.35413]},\"properties\":{\"placename\":\"United States, Georgia, Banks County\"}}","hits":6}],"options":{"sort":"index","limit":-2,"offset":0,"prefix":null}},{"name":"placename","items":[{"value":"United States, Georgia, Banks County","hits":6}],"options":{"sort":"count","limit":100,"offset":0,"prefix":null}}]}}