{"response":{"docs":[{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bs84-b1997-h98","title":"Audit report, Stewart County Board of Education, Lumpkin, Georgia, year ended June 30, 1998","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Stewart County, 32.07846, -84.8352"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1998-06-30"],"dcterms_description":["Fiscal year ended June 30, 2000-","Ceased with: Fiscal year ended June 30, 2008.","Title from cover.","Report year covers fiscal year.","Has supplements: Stewart County Board of Education, Lumpkin, Georgia, schedule of salaries and travel for the fiscal year ended ..., fiscal year ended June 30, 2000-fiscal year ended June 30, 2002; Report on salary and travel for the fiscal year ended ... (Stewart County Board of Education, Ga.), fiscal year ended June 30, 2003-fiscal year ended June 30, 2007; Salaries and travel reimbursement (Stewart County Board of Education, Ga.), fiscal year ended June 30, 2008.","Fiscal year ended June 30, 2008, released in 2009? (online surrogate); (Georgia Government Publications database, viewed July 7, 2023)."],"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":["Stewart County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Stewart County--Auditing--Periodicals.","Education--Georgia--Stewart County--Finance--Statistics--Periodicals.","Education--Auditing","Education--Finance","Expenditures, Public","Georgia--Stewart County--fast","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Stewart County Board of Education, Lumpkin, Georgia, year ended June 30, 1998"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bs84-b1997-h98"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bs84-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":["Education--Auditing--fast","Education--Finance--fast","Expenditures, Public--fast","Georgia--Stewart County--fast","Periodicals--fast","Statistics--fast"],"fulltext":"lrl1 A~oo \r\nlRI \r\nt~ \r\nt~4 \r\n(~ql-1'~ \r\nAUDIT REPORT STEWART COUNTY BOARD OF EDUCAnON \r\nLUMPKIN, GEORGIA YEAR ENDED JUNE 30, 1998 \r\n\\.~----------------- \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 WASHINGTON STREET \r\nATLANTA, GEORGIA 30334-8400 \r\n \r\n STEWART 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\nE)ClllBITS \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\n5 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n6 \r\n \r\nADDmONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING STATEMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nE \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n16 \r\n \r\nF \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n17 \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nG \r\n \r\nCOMBINING BALANCE SHEET . \r\n \r\n18 \r\n \r\nH \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n19 \r\n \r\nSCHEDULES \r\n \r\n1 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\n20 \r\n \r\n2 SCHEDULE OF STATE REVENUE \r\n \r\n22 \r\n \r\n3 SCHEDULE OF EXPENDITURES \r\n \r\nLOTTERY PROGRAMS \r\n \r\n23 \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\n25 \r\n \r\n5 \r\n \r\nBY PROGRAM \r\n \r\n26 \r\n \r\n STEWART COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\nSECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-B3 \r\nSECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \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\nMarch 25, 1999 \r\n \r\nHonorable Roy E. Barnes, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand \r\nSuperintendent and Members ofthe Stewart County Board of Education \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 Stewart 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 ofthe Stewart 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 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\n98ARL-13A \r\n \r\n * School activity accounts maintained at the individual schools are not included in the general purpose \r\n. financial 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, 1998, a portion of salaries \r\nand the corresponding employer's cost ofrelated benefIts 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 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\n* Governmental Accounting Standards Board Technical Bulletin 98-1, Disclosures About Year 2000 \r\nIssues, requires disclosure of certain matters regarding the year 2000 issue in order for fmancial statements to be prepared in conformity with generally accepted accounting principles. Such required disclosures include: \r\n\u003c\u003e Any signifIcant amount of resources committed to make computer systems and other electronic equipment year 2000 compliant; \r\n\u003c\u003e A general description of the year 2000 issue, including a description of the stages of work in process or completed as of the end ofthe reporting period to make computer systems and other electronic equipment critical to conducting operations year 2000 compliant. \r\n\u003c\u003e The additional stages of work necessary for making the computer systems and other electronic equipment year 2000 compliant. \r\nStewart County Board ofEducation has omitted such disclosures. We do not provide assurance that 'Stewart County Board of Education is or will be year 2000 ready, that Stewart County Board of Education's year 2000 remediation efforts will be successful in whole or in part, or that parties with which Stewart County Board of Education does business will be year 2000 ready. \r\nThe aggregate effects on the general purpose fmancial 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 referred to above present fairly, in all material respects, the fInancial position of the Stewart County Board ofEducation as ofJune 30, 1998, 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 March 25, 1999, on our consideration ofthe Stewart County Board ofEducation's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. \r\n98ARL-13A \r\n \r\n Our audit wasperfonned for the pUrpose of forming an opinion on the general purpose financial statements of the Stewart County Board of Education taken as a whole. The accompanying combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 5), which includes the Schedule of Expenditures of Federal Awards as required by U. S. Office of Management and Budget Circular A-133, Audits o/States, Local Governments, and Non-Profit Organizations, are presented for purposes of additional analysis and are not a required part of the general purpose fInancial statements. Such infonnation has been subjected to the auditing procedures applied in the audit of the general purpose fmancial 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 fmancial statements taken as a whole. \r\nA 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\n \r\nRWH:jb 98ARL-13A \r\n \r\nRussell W. Hinton State Auditor \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\n \r\n STEWART COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET \r\nALL FUND TYPES AND ACCOUNT GROUP JUNE 30.1998 \r\n \r\nASSETS \r\nCash and Cash Equivalents \r\nAccounts Receivable \r\nDue from Other Funds \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 \r\n \r\nSPECIAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\n$ \r\n \r\n569,921.47 $ \r\n \r\n226,206.87 \r\n \r\n112,859.03 \r\n \r\n76,606.23 \r\n \r\n6,220.16 \r\n \r\n8,582.19 2,540.83 \r\n \r\nTotal Assets \r\n \r\n$ \r\n \r\n689,000.66 $ =====3=13:=1:',;;,;93=6=,1:=.2 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nAccounts Payable Salaries Payable Expired Grant Balances Payable Due to Other Funds Capital Lease Agreements \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Bus Replacement Funds For Continuation of Federal Programs For SPLOST Projects For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ \r\n \r\n53,263.58 $ \r\n \r\n63,108.03 \r\n \r\n67,765.22 \r\n \r\n795.81 \r\n \r\n6,220.16 \r\n \r\n'$ \r\n \r\n53,263.58 $ \r\n \r\n137,889.22 \r\n \r\n$ \r\n \r\n33,600.77 \r\n \r\n$ \r\n \r\n43,903.55 \r\n \r\n8,582.19 2,540.83 \r\n \r\n602,136.31 \r\n \r\n121,020.33 \r\n \r\n$ \r\n \r\n635,737.08 $ \r\n \r\n176,046.90 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ \r\n \r\n689,000.66 $ ====3;,;,13=,.9.3..=6=,1:=.2 \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\n EXHIBIT \"A\" \r\n \r\nTYPES CAPITAL \r\nPROJECTS 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\n640.84 \r\n \r\n$ \r\n \r\n796,769.18 $ \r\n \r\n696,616.74 \r\n \r\n59,538.76 \r\n \r\n249,004.02 \r\n \r\n85,947.42 \r\n \r\n6.220.16 \r\n \r\n______ $ \r\n \r\n..:.51.:.1.,8::.:0~7.:.:...7~4 \r\n \r\n8,582.19 2,540.83 \r\n51.807.74 \r\n \r\n6,106.41 2.204.26 \r\n90,423.86 \r\n \r\n$ \r\n \r\n60.179.60 $ \r\n \r\n51.807.74 $ 1.114,924.12 $ = =.8..8.=1=:;..2.9..8...=6=9 \r\n \r\n$ \r\n \r\n116,371.61 $ \r\n \r\n30,352.19 \r\n \r\n67,765.22 \r\n \r\n64,697.13 \r\n \r\n795.81 \r\n \r\n436.41 \r\n \r\n6,220.16 \r\n \r\n$ \r\n \r\n51,807.74 \r\n \r\n51,807.74 \r\n \r\n90.423.86 \r\n \r\n$ \r\n \r\n51,807.74 $ \r\n \r\n242,960.54 $ \r\n \r\n185.909.59 \r\n \r\n$ \r\n \r\n59,538.76 \r\n \r\n640.84 \r\n \r\n$ \r\n \r\n60.179.60 \r\n \r\n$ \r\n \r\n60.179.60 $ \r\n \r\n$ \r\n \r\n33,600.77. \r\n \r\n43,903.55 $ \r\n \r\n59,538.76 \r\n \r\n1,446.00 \r\n \r\n8,582.19 2,540.83 \r\n \r\n6,106.41 2,204.26 \r\n \r\n723,797.48 \r\n \r\n685.632.43 \r\n \r\n$ \r\n \r\n871.963.58 $ \r\n \r\n695,389.10 \r\n \r\n51.807.74 $ 1.114,924.12 $===88...1.0:!::,.2.9.=:8';,;;;,69;., \r\n \r\n-3- \r\n \r\n The notes to the general purpose financial statements are an integral part of this statement. -4- \r\n \r\n The notes to the general purpose financial statements are an integral part of this statement. -5- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 3D. 1998 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nREPORTING ENTITY \r\nThe Stewart 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 primmy 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 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 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. \r\nGovernmental 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 received primarily from the Georgia Department ofEducation and from the Federal government to accomplish specific educational objectives. \r\n-6- \r\n \r\n STEWART 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\nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for 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 (Le., revenues and other financing sources) and decreases (Le., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure 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\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\nA departure from the above definitions is the accounting treatment afforded the fin:al two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share of these contracts. During fiscal year 1998, a substantial number of personnel ofthe Board were employed for a one hundred and ninety day period beginning in late August 1997 and ending in early June 1998. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1997 and ending in August 1998. State grants to fund the State's share ofthese contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As of June 30, 1998, compensation under these employment contracts had been earned, but two ofthe twelve monthly payments, due for July and August 1998, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1998. Also, the State's portion of the compensation paid in July and August 1998 was received \r\n -7- \r\n \r\n STEWART 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\nand 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\nBUDGET \r\n \r\nThe Stewart County Board ofEducation's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. \r\n \r\nThe budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval ofthis tentative budget by the Board, such budget is advertised at least once in a newspaper of general circulation in the locality. At the next regular meeting 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 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 fund balance as reflected on Exhibit \"B\" of this report: \r\n \r\nFUND BALANCE JULY 1, 1997 \r\nAc!justments Inventories - July 1, 1997 Food Donated Commodities Purchased Foods \r\nFund Balance July 1, 1997 (Budget Basis) \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JUNE 30, 1998 (Budget Basis) \r\n \r\nSpecial Revenue \r\nFund $ 111,290.50 \r\n-6,106.41 -2,204.26 $ 102,979.83 \r\n61,944.05 $ 164.923,88 \r\n \r\n-8- \r\n \r\n STEWART 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\n \r\nCASH AND CASH EQUIVALENTS \r\n \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\n \r\nRECEIVABLES \r\n \r\nReceivables consist of grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \r\n \r\nPROPERTY TAXES \r\n \r\nThe Stewart Courity Board ofCommissioners fixed the property tax levy for the 1997 tax year (calendar year) on October 17, 1997 (levy date). Taxes were due on December 19, 1997. 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 Stewart County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% oftaxes collected as a fee for tax collection and remits the balance oftaxes collected to the Board. \r\n \r\nThe tax millage rate levied for the 1997 tax year (calendar year) for the Stewart County Board ofEducation \r\nwas as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\nlU1mi11s \r\n \r\nSALES TAXES \r\n \r\nSpecial Purpose Local Option Sales Tax is to be used for capital outlay for educational purposes. Special Purpose Local Option Sales Tax collected by the State and remitted to the Board during the fiscal year amounted to $59,538.76 and was recorded in the Capital Projects Fund. The State will terminate collection ofthis tax once an additional $1,428,092.24 has been collected or on March 31, 2003, 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 \r\n \r\n-9- \r\n \r\n STEWART 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\n. 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\nto Total columns on the general purpose financial statements are captioned \"Memorandum Only\" indicate that \r\nthey are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations inconformity with generally accepted accounting pIjnciples. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation ofthis data. Certain reclassifications have been made to the comparative data to conform to the current year classifications. \r\n \r\nNote 2: DEPOSITS \r\n \r\nCOLLATERALIZATION OF DEPOSITS \r\n \r\nOfficial Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at \r\n \r\nany time in any depository for a time longer than ten days a sum of money which has not been secured by \r\n \r\nsurety bond, by guarantee of insurance, or by collateral. The aggregate ofthe face value of such surety bond \r\n \r\n~ \r\n \r\nand the market value ofsecurities pledged shall be equal to not less than 110 percent ofthe public funds being \r\n \r\nsecured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer \r\n \r\nholding public funds may, in his discretion, waive the requirement for security in the case of operating funds \r\n \r\nplaced in demand deposit checking accounts. \r\n \r\nAcceptable security for deposits consists of anyone of or any combination of the following: \r\n \r\n(l) .Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \r\n \r\n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \r\n \r\n- 10.; \r\n \r\n STEWART 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 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 ofindebtedness or other obligations ofthe counties or municipalities ofthe 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 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, 1998, the bank balances were $1,027,237.56. The amounts of the total bank balances are classified into three categories of credit risk: \r\n \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \r\n \r\nThe Board's deposits are classified by risk category at June 30, 1998, as follows: \r\n \r\nRisk Category \r\n \r\nBank Balance \r\n \r\n1 \r\n \r\n$ 100,000.00 \r\n \r\n2 \r\n \r\n927,237.56 \r\n \r\n3 \r\n \r\n0.00 \r\n \r\nTotal \r\n \r\n$ 1.027.237.56 \r\n \r\n- 11 - \r\n \r\n STEWART 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 3: NON-MONETARY TRANSACTIONS \r\n \r\nThe Board receives food commodities from the United States Department ofAgriculture (USDA) for school \r\nbreakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note \r\n1 - Inventories \r\n \r\nNote 4: INTERFUND ASSETS AND LIABILITIES \r\n \r\nDue to and due from other funds are recorded for interfund receivables and payables which arise from interfund transactions. The following analysis summarizes the status ofall interfund transactions ofthe Board at June 30, 1998: \r\n \r\nDue From Other Funds \r\n \r\nDue To Other Funds \r\n \r\nGeneral Fund Special Revenue Fund \r\nFederal Programs \r\n \r\n$ 6,220.16 $ 6,220.16 \r\n \r\n$ 6.220.16 $ 6.220.16 \r\n \r\nNote 5: 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 and natural disaster. \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 ofthe 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 participates in the Georgia School Boards Association Workers' Compensation Fund, \"a public entity risk pool organized on July 1, 1992 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 United States Fidelity and Guaranty Company to provide coverage for potential losses sustained by the Fund in excess of $350,000.00 loss per occurrence, up to the statutory limit. Also, should losses within the retained limit\" of $350,000.00 aggregate to more than seventy-five percent (75%) of the standard experience rated premium during the policy term, the policy with the United States Fidelity and Guaranty Company will pay the next $1,000,000.00 ofloss. \" \r\n \r\n- 12- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1998 \r\n \r\nNote 5: RISK MANAGEMENT \r\n \r\nThe Board has purchased surety bonds to provide additional insurance coverage as follows: \r\n \r\nPosition Covered \r\nSuperintendent Each Principal \r\nNote 6: GENERAL LONG-TERM DEBT \r\n \r\nAmount \r\n$ 25,000.00 $ 10,000.00 \r\n \r\nCAPITAL LEASES The Stewart County Board of Education has entered into various lease agreements as lessee for buses, equipment and modular buildings. 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, 1998, were as follows: \r\n \r\nBalance July 1, 1997 \r\nRetroactive Restatement ofPrior Year Balances \r\nBalance July 1, 1997 Restated \r\nDeductions Payments \r\nBalance June 30, 1998 \r\n \r\nCapital Leases $ 116,562.64 \r\n-26,138.78 \r\n$ 90,423.86 \r\n38,616.12 $ 51,807.74 \r\n \r\nAt June 30, 1998, 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\n1999 2000 2001 \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$ 31,298.84 12,604.23 12,604.23 \r\n$ 56,507.30 \r\n4,699.56 \r\n$ 51.807.74 \r\n \r\n- 13- \r\n \r\n STEWART 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\nNote7: ON-BEHALFPAYMENTS \r\n \r\nThe Board has recognized revenues and expenditures in the amount of $85,753.35 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 ofPersonnel Administration For Health Insurance ofNon-Certified Personnel In the amount of $67,299.14 \r\n \r\nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $4,884.21 \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$13,570.00 \r\n \r\nNote 8: SIGNIFICANT COMMITMENTS \r\n \r\nGovernmental Accounting Standards Board Technical Bulletin 98-1 requires certain disclosures in the Notes to the General Purpose Financial Statements concerning an entity's computer related year 2000 readiness. These disclosures, which are necessary to comply with generally accepted accounting principles, have not been made by the Board. \r\n \r\nThe following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1998: \r\n \r\nProject \r\n \r\nUnearned Executed Contracts \r\n \r\nStewart - Quitman High School Renovations \r\n \r\n$ 13,744.80 \r\n \r\nThe amount described in this note is not reflected in the general purpose financial statements. \r\n \r\nNote 9: 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\n- 14- \r\n \r\n STEWART 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 10: RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\n \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan~ TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. \r\n \r\nTRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by TRS are required by State statute to contribute 5% oftheir gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 11.81% 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$ 378,473.54 $ 367,632.87 $ 339,229.61 \r\n \r\n- 15 - \r\n \r\n ASSETS Cash and Cash Equivalents Accounts Receivable Inventories \r\nFood Donated Commodities Purchased Food \r\nTotal Assets \r\n \r\nSTEWART COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30. 1998 \r\n \r\nEXHIBIT\"E\" \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTIERY PROGRAMS \r\n \r\nFEDERAL PROGRAMS \r\n \r\nTOTALS JUNE 30, 1998 JUNE 30,1997 \r\n \r\n$ 134,525.35 $ \r\n \r\n47,372.53 $ \r\n \r\n44,308.99 $ 226,206.87 $ 132,541.41 \r\n \r\n10,440.23 \r\n \r\n66,166.00 \r\n \r\n76,606.23 \r\n \r\n58,062.97 \r\n \r\n8,582.19 2,540.83 \r\n \r\n8,582.19 2,540.83 \r\n \r\n6,106.41 2,204.26 \r\n \r\n$ 156,088.60 $ \r\n \r\n47,372.53 $ 110,474.99 $ 313.936.12 $ 198.915.05 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 16- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nSPECIAL REVENUE FUND YEAR ENDED JUNE 30, 1998 \r\n \r\nEXHIBIT\"F\" \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTIERY PROGRAMS \r\n \r\nFEDERAL PROGRAMS \r\n \r\nTOTALS YEAR ENDED JUNE 30,1998 JUNE 30,1997 \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Other Funds \r\n \r\n$ 26,430,00 $ 201,831,51 \r\n \r\n$ \r\n \r\n383,985.41 \r\n \r\n$ 578,649,44 \r\n \r\n32,373.46 \r\n \r\n228,261,51 $ 962,634,85 \r\n32,373,46 \r\n \r\n243,196,10 771,349,60 \r\n30,064,26 \r\n \r\nTotal Revenues \r\n \r\n$ 442,788,87 $ 201,831.51 $ 578,649,44 $ 1,223,269.82 $ 1,044,609.96 \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 Other Support Services Food Services Operation \r\nDebt Service Principal Interest \r\n \r\n$ $ 423,302,37 \r\n \r\n151,024.10 $ 22,989,55 \r\n4,250,00 2,420,88 2,000,00 5,025,21 2,000,00 \r\n11,234,26 887.51 \r\n \r\n400,499,82 $ \r\n8,085,52 80,276.29 \r\n188.00 25,209,00 \r\n1,151,91 \r\n21,526.84 \r\n \r\n551,523,92 $ \r\n31,075.07 80,276,29 \r\n188,00 25,209,00 \r\n4,250,00 2,420,88 3,151.91 5,025.21 23,526.84 423,302.37 \r\n11,234,26 887,51 \r\n \r\n431,654,71 \r\n48,875,57 37,420.38 \r\n68,869,59 7,379.87 2,775.74 2,535.50 811.86 \r\n23,329,39 402,464,55 \r\n10,411,74 1,710,03 \r\n \r\nTotal Expenditures \r\n \r\n$ 423,302,37 $ 201,831.51 $ 536,937.38 $ 1,162,071.26 .$ 1,038,238,93 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ 19,486,50 $ \r\n \r\n0.00 $ 41,712,06 $ \r\n \r\n61,198,56 $ \r\n \r\n6,371.03 \r\n \r\nOTHER FINANCING SOURCES \r\n \r\nOperating Transfers In \r\n \r\n745,49 \r\n \r\n745.49 \r\n \r\n6,915.95 \r\n \r\nExcess of Revenues and Other Financing Sources \r\n \r\nover (under) Expenditures \r\n \r\n$ \r\n \r\n19,486.50 $ \r\n \r\n0.00 $ 42,457.55 $ \r\n \r\n61,944.05 $ \r\n \r\n13,286.98 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n109,844,50 \r\n \r\n0.00 \r\n \r\n1,446.00 \r\n \r\n111,290,50 \r\n \r\n96,031.35 \r\n \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\n2,475.78 336.57 \r\n \r\n2,475.78 336.57 \r\n \r\n1,583,27 388.90 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 132,143,35 $ \r\n \r\n0,00 $ \r\n \r\n43,903,55 $ \r\n \r\n176,046,90 $ \r\n \r\n111,290,50 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-17- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION .COMBINING BALANCE SHEET CAPITAL PROJECTS FUND \r\nJUNE 30, 1998 \r\n \r\nEXHIBIT\"G\" \r\n \r\nASSETS Cash and Cash Equivalents Accounts Receivable \r\n \r\nREGULAR \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nJUNE 30, 1998 \r\n \r\nJUNE 30, 1997 \r\n \r\n$ \r\n \r\n640.84 \r\n \r\n$ \r\n \r\n640.84 $ \r\n \r\n1,020.32 \r\n \r\n_ _ _ _ _ $ _ _..::::5;.:;;9'r.:.53::;.::8~.7-=-6 \r\n \r\n59,538.76 \r\n \r\nTotal Assets \r\n \r\n$ \r\n \r\n640.84 $ \r\n \r\n59,538,76 $ \r\n \r\n60,179.60 $ =====1=,O=2:=0=:.3::=:2 \r\n \r\nFUND EQUITY \r\n \r\nFund Balances \r\n \r\nReserved \r\n \r\nFor SPLOST Projects \r\n \r\n$ \r\n \r\n59,538.76 $ \r\n \r\n59,538.76 \r\n \r\nUnreserved \r\n \r\nUndesignated \r\n \r\n$ \r\n \r\n....;64;...;,;;;,;0.;.;;.84~ \r\n \r\n0.00 \r\n \r\n640,84 $ \r\n \r\n1;.:.,O;.;;2;.;;.0.;,;;,.3~2 \r\n \r\nTotal Fund Equity \r\n \r\n$ \r\n \r\n640.84 $ \r\n \r\n59,538.76 $ \r\n \r\n60,179,60 $=====1:=,0=2:=0:=.3=2 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 18 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\n \r\n \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nYEAR ENDED JUNE 30.1998 \r\n \r\nEXHIBIT\"H\" \r\n \r\nREGULAR \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\n. YEAR ENDED \r\n \r\nJUNE 30,1998 \r\n \r\nJUNE 30,1997 \r\n \r\nREVENUES \r\n \r\nFederal Funds Taxes Other Funds \r\n \r\n$ \r\n \r\n70,403.00 \r\n \r\n$ \r\n \r\n59,538.76 $ \r\n \r\n59,538.76 \r\n \r\n$ \r\n \r\n20.52 \r\n \r\n20.52 \r\n \r\n6,895.87 \r\n \r\nTotal Revenues \r\n \r\n$ \r\n \r\n20.52 $ \r\n \r\n59,538.76 $ \r\n \r\n59,559.28 $ \r\n \r\n77.298.87 \r\n \r\nEXPENDITURES \r\n \r\nCapital Outlay Building and Building Improvements \r\nDebt Service Principal Interest \r\n \r\n$ \r\n \r\n6,500,00 $ \r\n \r\n13,075.81 t372.19 \r\n \r\n0.00 $ \r\n \r\n6,500,00 $ \r\n13,075.81 1,372.19 \r\n \r\n226,822.74 \r\n12,439.39 2,008.61 \r\n \r\nTotal Expenditures \r\n \r\n$ \r\n \r\n20,948.00 $ \r\n \r\n0.00 $ \r\n \r\n20,948.00 $ \r\n \r\n241,270.74 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ \r\n \r\n-20,927.48 $ \r\n \r\n59,538.76 $ \r\n \r\n38,611.28 $ \r\n \r\n-163,971.87 \r\n \r\nOTHER FINANCING SOURCES \r\n \r\nOperating Transfers In \r\n \r\n20,548.00 \r\n \r\n20,548.00 \r\n \r\n83,251.35 \r\n \r\nExcess of Revenues and Other Financing Sources \r\n \r\nover (under) Expenditures \r\n \r\n$ \r\n \r\n-379.48 $ \r\n \r\n59.538.76 $ \r\n \r\n59,159.28 $ \r\n \r\n-80.720.52 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n1,020.32 \r\n \r\n0.00 \r\n \r\n1,020.32 \r\n \r\n81,740.84 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ \r\n \r\n640.84 $ \r\n \r\n59,538.76 $ \r\n \r\n60,179.60 $ _ _.....,;,01.,;,;;0.20...3..2. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-19- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 30,1998 \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\n \r\nCFDA NUMBER \r\n \r\nPASS THROUGH \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 Pass-Through from Georgia Department of Education Food and N.utrition Program Food Services School Breakfast Program 1998 Grant National School Lunch Program 1998 Grant Food Distribution Program (1) \r\n \r\n* 10,553 \r\n* 10.555 10.550 \r\n \r\nN/A \r\n \r\n$ \r\n \r\nN/A NlA \r\n \r\n109,225.37 \r\n248,970.49 $ 25,789.55 \r\n \r\n(2) \r\n397,512.82 (3) 25,789,55 \r\n \r\nTotal U. S. Department of Agriculture \r\n \r\n$ \r\n \r\n383,985,41 $ \r\n \r\n423,302.37 \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 1997 Grant 1998 Grant Title VI Innovative Education Program Strategies 1998 Grant Goals 2000 State and Local Education Systemic Improvement Grant 1997 Grant 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 \r\n \r\n84.010 \r\n84.281 84.281 \r\n84.298 \r\n \r\nN/A \r\n \r\n$ \r\n \r\n318,756.00 $ \r\n \r\n318,791.17 (3) \r\n \r\nNlA \r\n \r\n4,055.03 \r\n \r\n4,055.03 \r\n \r\nN/A \r\n \r\n17,500.00 \r\n \r\n9,697.79 \r\n \r\nN/A \r\n \r\n7,587.00 \r\n \r\n7,672.44 (3) \r\n \r\n84.276 \r\n \r\n.NlA \r\n \r\n84.276 \r\n \r\nN/A \r\n \r\n10,000.00 150,300.00 \r\n \r\n11,446.00 114,198.66 \r\n \r\n84.027 \r\n \r\nNlA \r\n \r\n84.173 \r\n \r\nN/A \r\n \r\n33,425.00, 9,084.00 \r\n \r\n33,426.85 (3) 9,100.66 (3) \r\n \r\n84.048 \r\n \r\nN/A \r\n \r\n24,499.00 \r\n \r\n25,105.37 (3) \r\n \r\nTotal U. S. Department of Education \r\n \r\n$ \r\n \r\n575,206.03 $ \r\n \r\n533,493.97 \r\n \r\nLabor, U. S. Department of Pass-Through from Columbus, Georgia Consolidated Govemment Job Training Partnership Act Contract No. 97017 \r\n \r\n17.250 \r\n \r\nN/A \r\n \r\n$ \r\n \r\n3,443.41 $ \r\n \r\n3,443.41 \r\n \r\nTotal Federal Financial Assistance N/A=Not Available \r\n \r\n- 20 \r\n \r\n$ \r\n \r\n962,634.85 $ _ _.9.6.0..,2.3..9..7..5.. \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 3D. 1998 \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\". Major 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 Stewart 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\nSCHEDULE \"1\" \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 21 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 1998 \r\n \r\nSCHEDULE \"2\" \r\n \r\nAGENCY/FUNDING \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\nGRANTS Education, Georgia Department of Quality Basic Education \r\nGeneral and Career Education Programs $ \r\nSpecial Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation \r\nRegUlar 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 Other State Programs At-Risk Summer School Program Environmental Science Program Health Insurance Mentoring Program Mentor Teacher Program Pay for Performance Program Preschool Handicapped Program . Remedial Summer School Program Teachers' Retirement Lottery Programs Instructional Technology Assistive Technology Classroom Technology \r\n \r\n1,845,761.00 386,099.00 65,713.00 75,969,00 22,838.00 541,609.00 \r\n183,338.00 62,225.00 141,627.00 63,740,00 96,430.00 88,511.00 \r\n8,768.00 7,408.00 28,842.00 -360,280.00 156,765.00 . \r\n$ \r\n4,228.17 500.00 \r\n67,299.14 6,000.00 4,512.00 58,000.00. 13,375.00 4,429.64 4,884.21 \r\n \r\n$ \r\n26,430.00 3,820,00 \r\n53,000.00 \r\n \r\nOffice of School Readiness Pre-Kindergarten Program \r\n \r\n145,011.51 \r\n \r\nOffice of Treasury and Fiscal Services Public School Employees Retirement \r\n \r\n13,570.00 \r\n \r\nTOTAL \r\n1,845,761.00 386,099.00 65,713,00 75,969.00 22,838.00 541,609.00 \r\n183,338.00 62,225.00 141,627.00 63,740,00 96,430.00 88,511.00 \r\n8,768.00 7,408.00 28,842.00 -360,280.00 156,765.00 26,430.00 \r\n4,228,17 500.00 \r\n67,299,14 6,000.00 \r\n. 4,512.00 58,000.00 . 13,375.00 4,429.64 4,884.21 \r\n3,820.00 53,000.00 \r\n145,011.51 \r\n13,570.00 \r\n \r\n$ 3,592,161.16 $ \r\n \r\n228,261.51 $ 3,820,422.67 \r\n \r\nSee notes to the general purpose financial statements. - 22- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES LOTTERY PROGRAMS YEAR ENDED JUNE 30.1998 \r\n \r\nSCHEDULE \"3\" \r\n \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services \r\n \r\nINSTRUCTIONAL TECHNOLOGY \r\n \r\nASSISTIVE \r\n \r\nCLASSROOM \r\n \r\nTECHNOLOGY \r\n \r\nTECHNOLOGY \r\n \r\nPRE-KINDERGARTEN PROGRAM \r\n \r\n$ \r\n \r\n3,820.00 $ \r\n \r\n53,000.00 $ \r\n \r\n94,204.10 $ \r\n22,989.55 4,250.00 2,420.88 14,121.77 5,025.21 2,000.00 \r\n \r\nTOTAL \r\n151,024.10 \r\n22,989.55 4,250.00 2,420.88 \r\n14,121.77 5,025.21 2,000.00 \r\n \r\nTotal Expenditures \r\n \r\n$ \r\n \r\n3,820.00 $ \r\n \r\n53,000.00 $ \r\n \r\n145,011.51 $====2=01=,8=3=1=.5==1 \r\n \r\nRECAP: Salaries and Benefits Pre-Kindergarten Program Other Expenditures Instructional Technology Assistive Technology Classroom Technology Pre-Kindergarten Program \r\n \r\n$ \r\n \r\n122,798.19 \r\n \r\n3,820.00 53,000.00 22,213.32 \r\n \r\n$ \r\n \r\n201,831.51 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 23- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30.1998 \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$ 2,382,310.00 $ _ _--...-;6::.::8;.L7;.,....:4.::.;5.~00=- \r\n \r\n$ 2,340,291.13 123,049.56 $ _ _----\"-9=9,..;;..;59;...;;;8..;.;;;.3~9 \r\n$ 2,463,340.69 \r\n \r\n29,583.68 $ 2,433,757.01 \r\n \r\n$ \r\n \r\n0.00 $=====0=.0==0 \r\n \r\nSee notes to the general purpose financial statements. - 25 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REqUIREMENTS - BY PROGRAM \r\nGENERAL FUND - qUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30. 1998 \r\n \r\nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \r\nTotal Staff Development Programs \r\nr\u003e Identifies Fourteen Weighted Programs. \r\nsee notes to the general purpose financial statements. \r\n \r\n$ \r\n \r\n6,623.00 \r\n \r\n16,215.00 \r\n \r\n$ \r\n \r\n6,623.00 $ \r\n \r\n16,215.00 \r\n \r\n0.00 0.00 \r\n \r\n$ \r\n \r\n22,838.00 100 $ \r\n \r\n22,838.00 $ ======,,0,;;;.0=0 \r\n \r\n- 26 - \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\n170,388.90 $ \r\n \r\n170,192.69 $ \r\n \r\n4,886.81 $ \r\n \r\n175,079.50 \r\n \r\n456,821.10 \r\n \r\n451,088.18 \r\n \r\n23,153.61 \r\n \r\n474,241.79 \r\n \r\n$ \r\n \r\n627,210.00 $ \r\n \r\n621,280.87 $ \r\n \r\n28,040.42 $ \r\n \r\n649,321.29 $ \r\n \r\n0.00 \r\n \r\n198,468.00 \r\n \r\n197,226.78 \r\n \r\n9,805.90 \r\n \r\n207,032.68 \r\n \r\n0.00 \r\n \r\n352,612.10 \r\n \r\n478,956.64 \r\n \r\n16,571.66 \r\n \r\n495,528.30 \r\n \r\n0.00 \r\n \r\n182,391.30 \r\n \r\n234,274.90 \r\n \r\n14,551.37 \r\n \r\n248,826.27 \r\n \r\n0.00 \r\n \r\n151,803.90 \r\n \r\n146,916.10 \r\n \r\n5,732.98 \r\n \r\n152,649.08 \r\n \r\n0.00 \r\n \r\n157,467.60 \r\n \r\n164,865.71 \r\n \r\n17,014.98 \r\n \r\n181,880.69 \r\n \r\n0.00 \r\n \r\n$ 1.669.952.90 $ 1,843,521.00 $ \r\n \r\n91.717.31 $ 1.935.238.31 \r\n \r\n$ \r\n \r\n310.225.50 \r\n \r\n$ \r\n \r\n71,523.52 $ 141,235.50 92,116.66 \r\n906.90 \r\n \r\n117.52 $ 1,557.67 4,329.50 \r\n \r\n71,641.04 142,793.17 96.446.16 \r\n906.90 \r\n \r\n$ \r\n \r\n310,225.50 $ \r\n \r\n305,782.58 $ \r\n \r\n6.004.69 $ \r\n \r\n311,787.27 \r\n \r\n0.00 \r\n \r\n37,263.60 \r\n \r\n48.726.04 \r\n \r\n1.206.95 \r\n \r\n49,932.99 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n347,489.10 $ \r\n \r\n354,508.62 $ \r\n \r\n7,211.64 $ \r\n \r\n361.720.26 \r\n \r\n$ \r\n \r\n59,141.70 $ \r\n \r\n60,160.00 $ \r\n \r\n669.44 $ \r\n \r\n60,829.44 \r\n \r\n0.00 \r\n \r\n$ 2.076.583.70 $ 2,258.189.62 $ \r\n \r\n99,598.39 $ 2,357,788.01 \r\n \r\n$ \r\n \r\n56,196.00 $ \r\n \r\n82,101.51 \r\n \r\n$ \r\n \r\n82,101.51 \r\n \r\n0.00 \r\n \r\n12.176.10 \r\n \r\n$ \r\n \r\n23,451.17 \r\n \r\n23,451.17 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n68,372.10 $ \r\n \r\n82.101.51 $ \r\n \r\n23,451.17 $ \r\n \r\n105,552.68 \r\n \r\n$ 2.144.955.80 $ 2,340,291.13 $ \r\n \r\n123.049.56 $ 2,463,340.69 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n6,623.00 \r\n \r\n16.215.00 \r\n \r\n$===22:::1,8;;;;3=8=:.0:=0 \r\n \r\n$ \r\n \r\n22.561.02 $ \r\n \r\n22.561.02 \r\n \r\n1.308.50 \r\n \r\n1.308.50 \r\n \r\n$ \r\n \r\n23.869.52 $ \r\n \r\n23,869.52 $========0...0.:=0 \r\n \r\n- 27 - \r\n \r\n SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS \r\n \r\n RUSSELL W. HINTON \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 25, 1999 \r\n \r\nHonorable Roy E. Barnes, Governor Members of the General Assembly Members ofthe State Board of Education \r\nand Superintendent and Members ofthe Stewart 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 Stewart County Board ofEducation as of and for the year ended June 30, 1998, and have issued our report thereon dated March 25, 1999. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. \r\nCompliance \r\nAs part of obtaining reasonable assurance about whether Stewart County Board of Education's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of hiws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts; However, providing an opinion on compliance with those provisions was not an objective of our audit and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. \r\nInternal Control Over Financial Reporting \r\nIn planning and performing our audit, we considered Stewart County Board of Education's internal control over fmancial 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 fmancial reporting. However, we noted a certain matter involving the internal control over financial reporting and its \r\n98YB-40 \r\n \r\n operation that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control over financial reporting that, in our judgement, could adversely affect Stewart 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 ofFindings and Questioned Costs as item FS-7281-98-01. \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 also 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\nRespectfully submitted, \r\n~~.4 Russell W. Hinton State Auditor \r\nRWH:jb 98YB-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\nMarch 25, 1999 \r\n \r\nHonorable Roy E. Barnes, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Stewart County Board ofEducation \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 Stewart County Board of Education with the types of compliance \r\nu.s. requirements described in the Office ofManagement and Budget (OMB) Circular A-I33 Compliance \r\nSupplement that are applicable to each of its major Federal programs for the year ended June 30, 1998. Stewart County Board ofEducation's major Federal programs are identified in the accompanying Schedule of Findings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility of Stewart County Board of Education's management. Our responsibility is to express an opinion on Stewart 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 fmancial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits o/States, Local Governments, and Non-Profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types 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 Stewart 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 Stewart County Board of Education's compliance with those requirements. \r\n \r\n98SA-1O \r\n \r\n In our opinion, the Stewart County Board of Education complied, in all material respects, with the requirements referred to above that are applicable to each of its major Federal programs for the year ended June 30, 1998. \r\nInternal Control Over Compliance \r\nThe management of Stewart 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 perfonning our audit, we considered Stewart 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 detennine 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 normal course of perfonning 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\n~M  QQ t.V. J~ \r\nRussell W. Hinton \r\nState Auditor \r\nRWH:jb 98SA-1O \r\n \r\n SECTIONID AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n STEWART COUNTY BOARD OF EDUCATION AUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\nYEAR 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\n7281-93-03 FS-7281-97-01 \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-7281-97-01 \r\n \r\nDue to current staffing limitations and budgetary considerations prohibiting the hiring ofadditional 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 STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, J 998 \r\n \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n \r\n1. Type of Report Issued on the Financial Statements The auditor's opinion on the Stewart County Board ofEducation's financial statements was qualified for various departures from generally accepted accounting principles. \r\n \r\n2. Reportable Conditions in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the Stewart County Board ofEducation disclosed a financial statement reportable condition related to the following control category. \r\n \r\nGeneral Fixed Assets \r\n \r\nThe reportable condition described above is considered to be a material weakness. \r\n \r\n3. Noncompliance Material to the Financial Statements The audit of the Stewart County Board of Education disclosed no instances of noncompliance that were deemed to be material to the financial statements. \r\n \r\n4. Reportable Conditions in Internal Control Over Major Programs \r\n \r\nThe audit report for the Stewart County Board ofEducation did not disclose any reportable conditions \r\n \r\nin internal control over major programs. \r\n \r\n. \r\n \r\n5. Type of Report Issued on Compliance for Major Programs The auditor's opinion on the Stewart County Board of Education's report on compliance with requirements applicable to major programs Was unqualified. \r\n \r\n6. Audit Findings Required to be Reported by Section .5 IOCa) ofOMB .circular A-I33 The Stewart County Board ofEducation's audit did not disclose audit findings required to be reported by section .5lO(a) ofOMB Circular A-133. \r\n \r\n7. Major Programs Federal awards audited as major programs are as follows: 10.553 Food and Nutrition Prograni - Food Services - School Breakfast Program 10.555 Food and Nutrition Program - Food Services - National School Lunch Program \r\n \r\n8. Type \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000.00. \r\n \r\n9. Low Risk Auditee The Stewart 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 STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED 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-7281-98-01 The Stewart County Board ofEducation did not maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. This condition results in the general purpose financial statements ofthe Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory of land, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Asset 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-bs84-b1996-h97","title":"Audit report, Stewart County Board of Education, Lumpkin, Georgia, year ended June 30, 1997","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. 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Ri \r\nE.d.\" \r\nS~4 \r\niQ9s-9b \r\n \r\nAUDIT REPORT STEWART COUNTY BOARD OF EDUCAnON \r\nLUMPKIN, 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 STEWART 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\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\n3 \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\n4 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n5 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING 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\nSCHEDULES \r\n \r\n1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\n24 \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\n STEWART 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\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n30 \r\n \r\n7 \r\n \r\nLOTTERY PROGRAMS \r\n \r\n31 \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\nSECTIONll \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 OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR 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 STEWART 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\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\nJuly 3, 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 Stewart 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 Stewart 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 OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall 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 priaciples. \r\n96ARL-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, 1996, a portion of salaries \r\nand the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1996. Also funds received, subsequent to June 30, 1996, from the Georgia Department of Education for the State's share 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, 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 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 present fairly, in all material respects, the financial position of the Stewart 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 July 3, 1997, on our consideration of the Board's internal control structure and a report dated July 3, 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 Stewart County Board of Education taken as a whole. The combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 10 which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part ofthe general purpose financial statements of the Stewart County Board of Education. 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\n \r\nCLV:jy 96ARL-13 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n STEWART COUNTY BOARD OF EDUCATION - 1- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET \r\nALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 1996 \r\n \r\nEXHIBIT \"A\" \r\n \r\nASSETS \r\nCash and Cash Equivalents \r\nA=unts 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$ 617,651.44 $ \r\n \r\n54,153,17 $ \r\n \r\n81,740,84 \r\n \r\n58,385.03 \r\n \r\n119,301,60 \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$ 753,545,45 $ 684,851.86 \r\n \r\n177,686,63 \r\n \r\n81,079.16 \r\n \r\n4,523,14 1,815,36 \r\n \r\n4,523,14 1,815,36 \r\n \r\n5,756,25 2,121,67 \r\n \r\n$ \r\n \r\n106,417.97 \r\n \r\n106,417,97 \r\n \r\n100,595.50 \r\n \r\nTotal Assets \r\n \r\n$ 676,036.47 $ 179?93.27 $ \r\n \r\n81,740.84 $ \r\n \r\n106,417.97 $ 1,043,988.55 $ 874,404.44 \r\n \r\nLIABILITIES AND FUND EQUITY \r\n \r\nLIABILITIES \r\n \r\nA=unts Payable \r\n \r\n$ \r\n \r\nSalaries Payable \r\n \r\nExpired Grant Balances Payable \r\n \r\nDeferred Revenue \r\n \r\nCapital Lease Agreements \r\n \r\nTotal Liabilities \r\n \r\n$ \r\n \r\nFUND EQUITY \r\n \r\nFund Balances \r\n \r\nReserved \r\n \r\nFor Expired Grant Balancesl \r\n \r\nQuestioned Costs \r\n \r\n$ \r\n \r\nFor Federal Capital Outlay Projects \r\n \r\nFor Inventories \r\n \r\nFood \r\n \r\nDonated Commodities \r\n \r\nPurchased Food \r\n \r\n$ Unreserved \r\nUndesignated \r\n \r\nTotal Fund EQUity \r\n \r\n$ \r\n \r\n929.96 $ \r\n929,96 $ \r\n4,205.41 $ \r\n4,205.41 $ 670,901.10 675,106.51 $ \r\n \r\n13,895.73 65,278,77 \r\n4,587,42 \r\n83,761,92 \r\n$ 4,523.14 1,815.36 6,338.50 $ 89,692,85 96,031,35 $ \r\n \r\n$ $ \r\n7,000.00 \r\n7,000.00 74,740.84 81,740,84 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 676,036.47 $ 179,793.27 $ \r\n \r\n81,740.84 $ \r\n \r\n$ \r\n106,417,97 106,417.97 $ \r\n \r\n14,825.69 $ 65,278.77 \r\n4,587.42 \r\n106,417,97 \r\n19U09.85 $ \r\n \r\n11,117,35 56,536,98 \r\n1,148.01 16,723.49 100,595.50 \r\n186,121.33 \r\n \r\n$ \r\n \r\n4,205.41 $ \r\n \r\n6,394,57 \r\n \r\n7,000,00 \r\n \r\n4,523,14 1,815.36 \r\n \r\n5,756.25 2,121.67 \r\n \r\n$ \r\n \r\n17,543,91 $ \r\n \r\n14,272.49 \r\n \r\n835,334.79 \r\n \r\n674,010,62 \r\n \r\n$ 852,878.70 $ 688,283.11 \r\n \r\n106,417.97 $ 1,043,988,55 $ 874,404.44 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. 2 \r\n \r\n The notes to the general purpose financial statements are an integral part of this statement. - 3- \r\n \r\n STEWART 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\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$ 2,984,031,00 $ 3,141,446.35 \r\n \r\n28,481.00 \r\n \r\n525.00 \r\n \r\n1,090,218.00 1,244,541.48 \r\n \r\n$ 4,102,730.00 $ 4,386,512.83 \r\n \r\n$ 2,470,868.00 $ 2,425,522.83 \r\n \r\n116,833.00 116,176.00 99,781.00 131,867.00 338,958.00 59,257.00 384,801.00 373,065.00 41,771.00 \r\n \r\n138,125.24 122,049.10 97,505.81 123,321.60 \r\n344,528.32 68,470.19 416,231.20 313,748.35 18,232.32 \r\n \r\n64,353.00 5,000.00 \r\n \r\n1,233.53 64,415.86 \r\n2,160.00 48,777.08 \r\n \r\n$ 4,202,730.00 $ 4,184,321.43 \r\n \r\n$ -100,000.00 $ 202,191.40 \r\n \r\n$ -84,411.76 $ -84,411.76 \r\n \r\n$ -100,000.00 $ 555,231.94 \r\n \r\n117,779.64 557,326.87 \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$ 61,222.00 $ 248,248.64 \r\n \r\n702,750.00 \r\n \r\n753,512.88 \r\n \r\n1,200.00 \r\n \r\n32,732.61 \r\n \r\n$ 765,172.00 $ 1,034,494.13 \r\n \r\n$ 241,900.25 $ 427,270.47 \r\n \r\n7,100.00 22,851.00 \r\n85.00 63,924.00 \r\n400.00 \r\n \r\n43,450.97 29,305.86 \r\n60,835.32 3,285.65 725.78 1,470.73 5,967.63 \r\n \r\n49,294.00 363,715.00 \r\n \r\n46,982.49 391,716.72 \r\n \r\n33,995.92 23,116.00 \r\n$ 749,269.25 $ 1,068,123.54 \r\n$ 15,902.75 $ -33,629.41 \r\n \r\n$ 36,880.76 \r\n \r\n$ 36,880.76 \r\n \r\n$ 15,902.75 $ 108,335.40 \r\n \r\n3,251.35 86,441.50 \r\n \r\nFUND BALANCE JUNE 30, 1996 \r\n \r\n$ 455,231.94 $ 675,106.51 \r\n \r\n$ 124,238.15 $ 89,692.85 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -4- \r\n \r\n STEWART COUNTY BOARD OF EDUCAnON \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\nThe Stewart County Board of Education (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. With the exception ofthe departures from generally accepted accounting principles disclosed in 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\nThe more significant of the Board's accounting policies are described below. \r\nREPORTING ENTITY \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 Stewart County Board of Education. \r\nBased upon the application of the above criteria, the Stewart 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 Stewart 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, 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 genera.1ly 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-5- \r\n \r\n STEWART 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\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\n \r\nThe general purpose financial statements account for all State, Federal, Taxes and Other funds under control of the Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \r\n \r\nGOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's educational activities. Governmental Fund Types include: \r\n \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\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 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\n \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\n \r\nACCOUNT GROUP \r\n \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for 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. 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\n \r\nLiabilities which are expected to be financed from available spendable resources are reported as liabilities \r\n \r\nin the governmental funds. Other liabilities, which are not expected to be financed from available spendable \r\n \r\nresources, are reported in the General Long-Term Debt Account Group. \r\n \r\n. \r\n \r\n- 6- \r\n \r\n STEWART 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\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\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\nBUDGET \r\nThe Stewart 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 over expenditure 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\n-7- \r\n \r\n STEWART 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 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\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\nSpecial Revenue \r\nFund \r\n \r\nFUND BALANCE JULY 1, 1995 \r\n \r\n$ 94,319.42 \r\n \r\nAdjustments Inventories - July 1, 1995 Food Donated Commodities Purchased Foods \r\n \r\n-5,756.25 -2,121.67 \r\n \r\nFund Balance July 1, 1995 (Budget Basis) \r\n \r\n$ 86,441.50 \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\n \r\n3,251.35 \r\n \r\nFUND BALANCE JUNE 30,1996 (Budget Basis) \r\n \r\n$ 89,692.85 \r\n \r\nCASH AND CASH EQUIVALENTS \r\n \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits (including 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\n \r\n-8- \r\n \r\n STEWART COUNTY BOARD OF EDUCAnON \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\nRECEIVABLES \r\n \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 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 Stewart County Board of Commissioners fixed the property tax levy for the 1995 tax year (calendar year) on October 20, 1995 (levy date). Taxes were due on January 20, 1996. The lien date for property taxes was January 1, 1995. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1996 since their collection meets the criteria ofGASB codification section P70.103. The Stewart 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 Stewart 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\n12.12 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\n- 9- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\n \r\nEXHmIT \"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\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 reclassifications. \r\nNote 2: DEPOSITS \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 iIi 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 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 anyone of or any combination of the following: \r\n(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \r\n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \r\n(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, \r\n(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia, \r\n(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and \r\n \r\n- 10 - \r\n \r\n STEWART 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\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, 1996, the bank balances were $935,462.94. The amounts ofthe total bank balances are classified into three categories of credit risk: \r\n \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \r\n \r\nThe Board's deposits are classified by risk category at June 30, 1996, as follows: \r\n \r\nRisk Category \r\n1 2 3 \r\nTotal \r\nNote 3: NON-MONETARY TRANSACTIONS \r\n \r\nBank Balance \r\n$ 175,000.00 0.00 \r\n760,462.94 \r\n$ 935,462.94 \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; and natural disaster. \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 inGUrred losses (settlements) which exceeded the Board's insurance coverage in any ofthe past three years. \r\n \r\n- 11 - \r\n \r\n STEWART 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\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 participates in the Georgia School Boards Association Workers' Compensation Fund, a public entity risk pool organized on July 1, 1992 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 Safety National Casualty Corporation to provide coverage for potential losses sustained by the Fund in excess of $250,000.00 loss per occurrence, up to the statutory limit. Also, should losses within the retained limit of $250,000.00 aggregate to more than eighty-five percent (85%) of the standard experience rated premium during the policy term, the policy with Safety National Casualty Corporation will pay the next $1,000,000.00 of loss. \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCAPITAL LEASES The Stewart County Board of Education has entered into various lease agreements as lessee for equipment and modular classrooms. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value ofthe future minimum lease payments as of the date oftheir inception. \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1996, were as follows: \r\n \r\nCapital Leases \r\n \r\nBalance July 1, 1995 \r\n \r\n$ 99,928.75 \r\n \r\nRetroactive Restatement of Prior Year Balances \r\n \r\n666.75 \r\n \r\nBalance July 1, 1995 Restated \r\n \r\n$ 100,595.50 \r\n \r\nAdditions \r\n \r\n71,729.00 \r\n \r\nDeductions \r\n \r\n65,906.53 \r\n \r\nBalance June 30, 1996 \r\n \r\n$ 106.417.97 \r\n \r\nAt June 30, 1996, payments due, by fiscal year which includes principal and interest for these items are as follows: \r\n \r\n- 12 - \r\n \r\n STEWART 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\n \r\nCapital Leases \r\n \r\n1997 1998 1999 \r\n \r\n$ 53,933.62 47,215.87 14,448.00 \r\n \r\nTotal Principal and Interest \r\n \r\n$ 115,597.49 \r\n \r\nDeduct: Imputed Interest \r\n \r\n9,179.52 \r\n \r\nNet Present Value of Future Minimum Lease Payments \r\n \r\n$ 106.417.97 \r\n \r\nNote 6: ON-BEHALF PAYMENTS \r\n \r\nThe Board has recognized revenues and expenditures in the amount of$86,147.11 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 Ment System of Personnel Administration For Health Insurance of Non-Certified Personnel In the amount of$67,835.96 \r\n \r\nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $4,41 0.15 \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 $13,901.00 \r\n \r\nNote 7: SIGNIFICANT COMMITMENTS \r\n \r\nThe following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1996, together with funding available: \r\n \r\n- 13 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 7: SIGNIFICANT COMMITMENTS \r\n \r\nProject \r\n \r\nUnearned Executed Contracts \r\n \r\nFederal Funding Available \r\n \r\nStewart County High Renovations \r\n \r\n$ 185,260.00 $ 70.403.00 \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 fmancial position. \r\n \r\nThe Board is a defendant in a legal proceeding pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition of this proceeding is not presently determinable, but is not believed to be material to the general purpose financial statements. \r\n \r\nNote 9: RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\n \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and 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 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\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 tpe member's \r\n \r\n- 14- \r\n \r\n STEWART 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\nbeneficiary 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 $2,872,403.44; total payroll was $3,400,146.55. \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 $482,850.06, of which $339,229.61 was made by the Board and $143,620.45 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 of the Governmental Accounting Standards Board (GAS) 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 GAS 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, 1995, was as follows: \r\n \r\nTotal pension benefit obligation \r\n \r\n$17,442,607,000.00 \r\n \r\nNet assets available for benefits, at cost \r\n \r\n15,857,066,000.00 \r\n \r\nUnfunded pension benefit obligation \r\n \r\n$ 1.585,541.000.00 .' \r\n \r\n- 15 - \r\n \r\n STEWART 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 of June 30, 1995. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers. \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 $339,229.61 was actuarially determined and represented .0558% 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 information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become 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 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 of age 65. A member applying for service retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number ofyears of creditable service. Options are available for distribution 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. If there are less than ten years of service, a lump sum refund of the employee's contributions and interest are made to the beneficiary. 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\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 30 employees covered under PSERS for the year ended June 30, 1996. \r\n \r\n- 16- \r\n \r\n STEWART 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\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 of the Board made during fiscal year 1996 amounted to $1,068.00. 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. Fountain B. Wims, is bonded in the amount of $25,000.00 with the Western \r\nSurety Company, Sioux Falls, South Dakota, their Bond No. 58595288, on which premium was paid through August 31, 1997. \r\n \r\n- 17 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1996 \r\n \r\nASSETS Cash and Cash Equivalents Accounts Receivable Inventories \r\nFood Donated Commodities Purchased Food \r\nTotal Assets \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nSTATE PRESCHOOL HANDICAPPED \r\nPROGRAM \r\n \r\nELEMENTARY AND SECONDARY EDUCATION ACT \r\n \r\nTITLE I \r\n \r\nTITLE VI \r\n \r\nGRANTS TO \r\n \r\nTITLE II \r\n \r\nINNOVATIVE \r\n \r\nLOCAL \r\n \r\nEISENHOWER \r\n \r\nEDUCATION \r\n \r\nEDUCATIONAL PROFESSIONAL \r\n \r\nPROGRAM \r\n \r\nAGENCIES \r\n \r\nDEVELOPMENT STRATEGIES \r\n \r\n$ 52,607,29 $ \r\n \r\n2,769,62 $ \r\n \r\n0,00 \r\n \r\n$ \r\n \r\n0,00 \r\n \r\n46,752,48 \r\n \r\n13,700,00 \r\n \r\n$ \r\n \r\n56,282,06 $ \r\n \r\n248,93 \r\n \r\n4,523,14 1,815,36 \r\n \r\n$ 105,698,27 $ 16,469,62 $ \r\n \r\n0,00 $ \r\n \r\n56,282,06 $ \r\n \r\n248,93 $ \r\n \r\n0,00 \r\n \r\nLIABILITIES AND FUND EQUITY \r\n \r\nLIABILITIES \r\n \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue \r\n \r\n$ \r\n \r\n654,24 $ \r\n \r\n3,501,66 \r\n \r\n9,012,68 \r\n \r\n10,832,35 \r\n \r\n2,135.61 \r\n \r\n$ \r\n \r\n2,186,75 $ \r\n \r\n9,502,93 \r\n \r\n44,592.38 \r\n \r\n248,93 \r\n \r\nTotal Liabilities \r\n \r\n$ \r\n \r\n9,666.92 $ 16,469.62 \r\n \r\n$ \r\n \r\n56,282.06 $ \r\n \r\n248.93 \r\n \r\nFUND EQUITY \r\n \r\nFund Balances Reserved For Expired Grant Balances! Questioned Costs For Inventories Food Donated Commodities Purchased Food \r\n \r\n$ \r\n \r\n4,523.14 \r\n \r\n1,815.36 \r\n \r\nUnreserved Undesignated \r\n \r\n$ \r\n \r\n6,338.50 \r\n \r\n89,692.85 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\nTotal Fund Equity \r\n \r\n$ 96,031.35 $ \r\n \r\n0.00 $ \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$ 105,698.27 $ 16,469.62 $ \r\n \r\n0.00 $ \r\n \r\n56,282.06 $ \r\n \r\n248.93 $ \r\n \r\n0.00 \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\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\nJOB TRAINING PARTNERSHIP \r\nACT \r\n \r\nHIGH RISK YOUTH \r\nPROGRAM \r\n \r\nTOTALS JUNE 30, 1996 JUNE 30, 1995 \r\n \r\n$ 3,451.01 $ \r\n \r\n79.06 $ \r\n \r\n0.00 \r\n \r\n$ 58,906.98 $ 98,250.45 \r\n \r\n$ \r\n \r\n357.53 $ \r\n \r\n1,960.60 \r\n \r\n119,301.60 \r\n \r\n78,449.42 \r\n \r\n4,523.14 1,815.36 \r\n \r\n5,756.25 2,121.67 \r\n \r\n$ 3,451.01 $ \r\n \r\n79.06 $ \r\n \r\n0.00 $ \r\n \r\n357.53 $ \r\n \r\n1,960.60 $ 184,547.08 $ 184,577.79 \r\n \r\n$ \r\n \r\n236.90 \r\n \r\n841.36 \r\n \r\n2,372.75 $ \r\n \r\n$ 3,451.01 $ \r\n \r\n79.06 79.06 \r\n \r\n$ \r\n \r\n357.53 $ \r\n \r\n1,960.60 $ \r\n \r\n4,753.81 $ \r\n \r\n4,732.54 \r\n \r\n13,895.73 \r\n \r\n11,117.35 \r\n \r\n65,278.77 \r\n \r\n56,536.98 \r\n \r\n4,587.42 \r\n \r\n1,148.01 \r\n \r\n16,723.49 \r\n \r\n$ \r\n \r\n357.53 $ \r\n \r\n1,960.60 $ \r\n \r\n88,515.73 $ \r\n \r\n90,258.37 \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\n0.00 $ 0.00 $ \r\n \r\n$ \r\n \r\n231.66 \r\n \r\n$ \r\n$ 0.00 0.00 $ \r\n \r\n4,523.14 1,815.36 \r\n6,338.50 $ 89,692.85 96,031.35 $ \r\n \r\n5,756.25 2,121.67 \r\n8,109.58 \r\n86,209.84 \r\n94,319.42 \r\n \r\n$ \r\n \r\n3,451.01 $===\",;,7,,;;,9;,,;;.0;;.6 $======0=.0==0 $===3;;,;;5;,;,7;,;;.5,;;,,3 $ \r\n \r\n1,960.60 $ 184,547.08 $ 184,577.79 \r\n \r\n: \r\n-19 - \r\n \r\n STEWART 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\nSTATE PRESCHOOL HANDICAPPED \r\nPROGRAM \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 DEVELOPMENT STRATEGIES \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Taxes and Other Funds \r\n \r\n$ 24,500,00 $ 215,904.64 $ 337,185,36 32,732.61 \r\n \r\n7,844.00 $ \r\n \r\n328,342.14 $ \r\n \r\n9,249,58 $ \r\n \r\n8,451.00 \r\n \r\nTotal Revenues \r\n \r\n$ 394,417.97 $ 215,904.64 $ \r\n \r\n7,844.00 $ 328,342.14 $ \r\n \r\n9,249.58 $ \r\n \r\n8,451.00 \r\n \r\nEXPENDITURES \r\n \r\nCurrent \r\n \r\nInstruction \r\n \r\n$ 159,442.79 $ \r\n \r\nSupport Services \r\n \r\nPupil Services \r\n \r\n31,191.09 \r\n \r\nImprovement of Instructional \r\n \r\nServices \r\n \r\n3,729.05 \r\n \r\nEducational Media Services \r\n \r\nGeneral Administration \r\n \r\nSchool Administration \r\n \r\n2,948.00 \r\n \r\nBusiness Administration \r\n \r\nMaintenance and Operation of \r\n \r\nPlant \r\n \r\n1,470.73 \r\n \r\nStudent Transportation Services \r\n \r\n3,694.59 \r\n \r\nOther Support Services \r\n \r\n2,895.00 \r\n \r\nFood Services Operation \r\n \r\n$ 390,934.96 \r\n \r\n781.76 \r\n \r\nCapital Outlay \r\n \r\n33,995.92 \r\n \r\nDebt Service \r\n \r\nPrincipal \r\n \r\n10,823.00 \r\n \r\nInterest \r\n \r\n60.00 $ 7,784.00 \r\n \r\n223,512.95 \r\n$ 60,744.90 \r\n \r\n44,087.49 \r\n \r\n$ \r\n9,233.56 16.02 \r\n \r\n451.00 \r\n5,822.02 2,177.98 \r\n \r\nTotal Expenditures \r\n \r\n$ 390,934.96 $ 250,971.93 $ \r\n \r\n7,844.00 $ 328,345.34 $ \r\n \r\n9,249.58 $ \r\n \r\n8,451.00 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ \r\n \r\n3,483.01 $ -35,067.29 $ \r\n \r\n0.00 $ \r\n \r\n-3.20 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\nOTHER FINANCING SOURCES \r\n \r\nCapital Leases Operating Transfers In \r\n \r\n$ 32,469.00 2,369.83 \r\n \r\nTotal Other Financing Sources \r\n \r\n$ 34,838.83 \r\n \r\nExcess of Revenues and Other Financing \r\n \r\nSources over (under) Expenditures $ \r\n \r\n3,483.01 $ \r\n \r\n-228.46 $ \r\n \r\n0.00 $ \r\n \r\n-3.20 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n94,087.76 \r\n \r\n228.46 \r\n \r\n0.00 \r\n \r\n3.20 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\n-1,233.11 -306.31 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 96,031.35 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \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\"F\" \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\nJOB TRAINING PARTNERSHIP \r\nACT \r\n \r\nHIGH RISK YOUTH \r\nPROGRAM \r\n \r\nTOTALS YEAR ENDED JUNE 30, 1996 JUNE 30, 1995 \r\n \r\n$ \r\n \r\n22,299.25 $ \r\n \r\n4,040.94 $ \r\n \r\n$ \r\n \r\n22,299.25 $ \r\n \r\n4,040.94 $ \r\n \r\n28,481.00 $ 28,481.00 $ \r\n \r\n9,380.61 $ 9,380.61 $ \r\n \r\n$ 6,083.00 \r\n \r\n248,248.64 $ 753,512.88 \r\n32,732.61 \r\n \r\n418,374.85 718,889.62 \r\n29,049.69 \r\n \r\n6,083.00 $ 1,034,494.13 $ 1,166,314.16 \r\n \r\n$ \r\n \r\n5,624.89 $ \r\n \r\n2,924.33 $ \r\n \r\n1,007.91 \r\n \r\n1,116.61 \r\n \r\n15,592.05 \r\n \r\n74.40 \r\n \r\n$ \r\n \r\n22,299.25 $ \r\n \r\n4,040.94 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n26,228.16 $ \r\n3,918.82 374.18 \r\n30,521.16 $ \r\n \r\n5,748.08 $ 851.36 751.20 725.78 \r\n1,304.19 \r\n9,380.61 $ \r\n \r\n3,278.27 $ 427,270.47 $ 558,354.31 \r\n \r\n1,500.00 \r\n \r\n43,450.97 \r\n \r\n45,908.72 \r\n \r\n337.65 \r\n \r\n29,305.86 \r\n60,835.32 3,285.65 725.78 \r\n \r\n29,135.11 4,639.70 \r\n61,152.13 3,000.00 2,602.44 \r\n \r\n968.85 \r\n \r\n1,470.73 5,967.63 46,982.49 391,716.72 33,995.92 \r\n \r\n1,189.98 1,472.44 45,290.52 370,635.88 6,011.06 \r\n \r\n20,563.84 2,552.16 \r\n \r\n15,345.71 2,922.99 \r\n \r\n6,084.77 $ 1,068,123.54 $ 1,147,660.99 \r\n \r\n-2,040.16 $ \r\n \r\n0.00 $ \r\n \r\n-1.77 $ -33,629.41 $ \r\n \r\n18,653.17 \r\n \r\n$ \r\n \r\n2,040.16 \r\n \r\n$ \r\n \r\n2,040.16 \r\n \r\n$ \r\n \r\n32,469.00 \r\n \r\n$ \r\n \r\n1.77 \r\n \r\n4,411.76 $ \r\n \r\n713.94 \r\n \r\n$ \r\n \r\n1.77 $ \r\n \r\n36,880.76 $ \r\n \r\n713.94 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 $ 0.00 \r\n \r\n0.00 $ 0.00 \r\n \r\n0.00 $ 0.00 \r\n \r\n3,251.35 $ 94,319.42 \r\n \r\n19,367.11 76,756.23 \r\n \r\n-1,233.11 -306.31 \r\n \r\n-784.22 -1,019.70 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n96,031.35 $ \r\n \r\n94,319.42 \r\n \r\n.' - 21 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30,1996 \r\n \r\nEXHIBIT\"G\" \r\n \r\nASSETS Cash and Cash Equivalents \r\n \r\nREGULAR \r\n \r\nINSTITUTIONAL CONSERVATION \r\nPROJECT \r\n \r\nTOTALS JUNE 3D, 1996 JUNE 3D, 1995 \r\n \r\n$ \r\n \r\n74,740.84 $ \r\n \r\n7,000.00 $ \r\n \r\n81,740.84 $ ===36:.:l:,6~3;,;;;,6;,;;;,,82;:;. \r\n \r\nFUND EQUITY \r\nFund Balances Reserved For Federal Capital Outlay Projects \r\nUnreserved Undesignated \r\n \r\n$ $ _ _---'-74\"\"\"',..;...74.;.;:0=.8'-'-4 \r\n \r\nTotal Fund Equity \r\n \r\n$ \r\n \r\n74,740.84 $ \r\n \r\n7,000,00 $ \r\n \r\n7,000.00 \r\n \r\n0.00 \r\n \r\n74,740.84 $ _ _~36;;.!,,6;:.::3:;.::6=.8=-2 \r\n \r\n7,000.00 $ \r\n \r\n81,740.84 $===36=,6:=3=6=:.8==2 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 22- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"H\" \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nYEAR ENDED JUNE 30,1996 \r\n \r\nREVENUES \r\nTaxes and Other Funds \r\nEXPENDITURES \r\nCapital Outlay Building and Building Improvements \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES \r\nCapital Leases Operating Transfers In \r\nTotal Other Financing Sources \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures \r\nFUND BALANCE JULY 1 \r\n \r\nREGULAR \r\n \r\nINSTITUTIONAL CONSERVATION \r\nPROJECT \r\n \r\nTOTALS \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 1996 \r\n \r\nJUNE 30, 1995 \r\n \r\n$ \r\n \r\n3,194.36 $ \r\n \r\n7,000.00 $ \r\n \r\n10,194.36 $ \r\n \r\n8,908.92 \r\n \r\n$ \r\n \r\n45,090.34 $ \r\n \r\n$ \r\n \r\n-41,895.98 $ \r\n \r\n39,260.00 $ -32,260.00 $ \r\n \r\n84,350.34 $ -74,155.98 $ \r\n \r\n0.00 8,908.92 \r\n \r\n$ \r\n \r\n$ \r\n \r\n80,000.00 \r\n \r\n$ \r\n \r\n80,000.00 $ \r\n \r\n39,260.00 $ 39,260.00 $ \r\n \r\n39,260.00 80,000.00 $ \r\n119,260.00 $ \r\n \r\n25,000.00 25,000.00 \r\n \r\n$ \r\n \r\n38,104.02 $ \r\n \r\n36,636.82 \r\n \r\n7,000.00 $ 0.00 \r\n \r\n45,104.02 $ 36,636.82 \r\n \r\n33,908.92 2,727.90 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ \r\n \r\n74,740.84 $ \r\n \r\n7,000.00 $ \r\n \r\n81,740.84 $ ===3=6;,;;,6=3=6=.8=:2 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 23- \r\n \r\n STEWART 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) \r\nTotal U. S. Department of Agriculture \r\nEducation, U. S, Department of Direct Elementary and Secondary Education Act Title VIII Impact Aid 1996 Grant Through Georgia Department of Education Elementary and Secondary Education Act Title I Grants to Local Educational Agencies 1995 Regular 1996 Grant Title II Eisenhower Professional Development 1995 Regular 1996 Grant Title VI Innovative Education Program Strategies 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 Through Georgia Department of Human Resources Safe and Drug-Free Schools High Risk Youth Program 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\n$ \r\n \r\n71,686.87 \r\n242,569.03 $ 22,929.46 \r\n337,185.36 $ \r\n \r\n(2) \r\n368,005.50 (3) 22,929.46 \r\n390,934.96 \r\n \r\n84.041 $ \r\n \r\n525.00 \r\n \r\n(4) \r\n \r\n* 84.010 * 84.010 \r\n84.281 84.281 \r\n84.298 \r\n \r\n-3.20 328,345.34 $ \r\n \r\n328,345.34 \r\n \r\n5,000.65 4,248.93 \r\n \r\n5,000,65 4,248.93 \r\n \r\n8,451.00 \r\n \r\n8,451.00 \r\n \r\n84.027 84.173 \r\n \r\n22,299.25 4,040,94 \r\n \r\n22,299,25 4,040.94 \r\n \r\n84.048 \r\n \r\n28,481.00 \r\n \r\n30,521.16 (3) \r\n \r\n84.186 $ \r\n \r\n6,083.00 407,471.91 $ \r\n \r\n6,084.77 (3) 408,992.04 \r\n \r\n- 24 - \r\n \r\n STEWART 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\n \r\nCFDA NUMBER \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\nLabor, U. S. Department of Through Columbus, Georgia Consolidated Government Job Training Partnership Act \r\nContract No. 93087 Contract No. 96014 \r\n \r\n17.250 $ 17.250 \r\n \r\n9,023.08 $ 357.53 \r\n \r\n9,023,08 357.53 \r\n \r\nTotal U. S. Department of Labor \r\n \r\n$ \r\n \r\n9,380.61 $ \r\n \r\n9,380.61 \r\n \r\nTotal Federal Financial Assistance \r\n \r\n$ 754,037.88 $====8:::i:::09,=::!::,3:=0=7=.6=1 \r\n \r\nThe Major Program is identified by an asterisk (*) in front of the CFDA number. \r\n \r\n(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. \r\n(2) Expenditures for the School Breakfast Program were not maintained separately and are included \r\nin the fiscal year 1996 National School Lunch Program. \r\n(3) Expenditures for this program include State and/or Other Funds. Expenditures are not maintained by fund source. \r\n(4) Expenditures on this program do not require reporting of expenditures. \r\n \r\nSee notes to the general purpose financial statements. \r\n- 25 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30.1996 \r\nNONINTEREST BEARING ACCOUNT Farmers State Bank, Lumpkin, Georgia \r\nINTEREST BEARING ACCOUNT Farmers State Bank, Lumpkin, Georgia N.O.W. Account (2.25%) \r\n \r\nSCHEDULE \"2\" \r\n \r\n$ \r\n \r\n75,000.00 \r\n \r\n678,545.45 $ ======7=5=:3,=54=5=.4:=5 \r\n \r\nSee notes to the general purpose financial statements. - 26 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30.1996 \r\n \r\nSCHEDULE \"3\" \r\n \r\nColumbus, Georgia Consolidated Government Job Training Partnership Act \r\nEducation, Georgia Department of Food Services School Breakfast Program National School Lunch Program Other State Program Mentor Teacher Program Federal Programs Elementary and Secondary Education Act Title I Grants to Local Educational Agencies Title II Eisenhower Professional Development \r\nHuman Resources, Georgia Department of High Risk Youth Program \r\nOffice of School Readiness Pre-Kindergarten Program \r\nProfessional Women's League Contracted Meals \r\nStewart County Tax Commissioner County Wide School Tax \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\n357.53 $ \r\n \r\n357.53 \r\n \r\n8,945.68 31,553.47 \r\n \r\n8,945.68 31,553.47 \r\n \r\n$ \r\n \r\n195.00 \r\n \r\n195.00 \r\n \r\n58,190.03 \r\n \r\n56,282.06 248.93 \r\n1,960.60 13,700.00 \r\n6,253.33 \r\n \r\n56,282.06 248.93 \r\n1,960.60 13,700.00 \r\n6,253.33 58,190.03 \r\n \r\n$ \r\n \r\n58,385.03 $ \r\n \r\n119,301.60 $===17=7=,6=8=6.:=6=3 \r\n \r\n'. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 27 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30,1996 \r\n \r\nSCHEDULE \"4\" \r\n \r\nAGENCY/FUNDING \r\nGRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Middle School Incentive Program Sparsity Grant Special Instructional Assistance In-School Suspension Counselors Grades 4 and 5 Midterm Adjustment Local Fair Share Educational Equalization Funding Grant Food Services Other State Programs At-Risk Summer School Program Environmental Science Program Family Connection Health Insurance Innovative Programs Mentor Teacher Program Preschool Handicapped Program Remedial Summer School Program Teachers' Retirement Lottery Programs Instructional Technology Media Center and Library Equipment Model Technology Schools Pre-Kindergarten Program Technology Installation \r\nOffice of School Readiness Pre-Kindergarten Program \r\nOffice of Treasury and Fiscal Services Public School Employees Retirement \r\nCONTRACT Education, Georgia Department of School-Based Leadership Development Program \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 1,605,808,00 383,279.00 50,687,00 67,982.00 23,188,00 497,896,00 \r\n169,204,00 56,252.00 57,447.00 113,572,00 74,328,00 76,845,00 4,593,00 42,801.00 -352,847.00 138,199,00 \r\n$ \r\n5,229.01 500.00 \r\n25,765.00 67,835.96 \r\n4,980.00 3,900,00 \r\n4,691.23 4,410,15 \r\n \r\n$ 1,605,808.00 383,279.00 50,687.00 67,982,00 23,188.00 497,896.00 \r\n \r\n24,500.00 \r\n \r\n169,204.00 56,252.00 57,447.00 113,572.00 74,328.00 76,845,00 4,593.00 42,801,00 -352,847.00 .138,199.00 24,500.00 \r\n \r\n7,844,00 \r\n \r\n5,229.01 500.00 \r\n25,765.00 67,835.96 \r\n4,980,00 3,900,00 7,844.00 4,691.23 4,410,15 \r\n \r\n19,576,15 -228.46 9,176.92 \r\n119,903,00 28,397,22 \r\n \r\n19,576,15 -228.46 9,176.92 \r\n119,903.00 28,397.22 \r\n \r\n39,079,81 \r\n \r\n39,079,81 \r\n \r\n13,901,00 \r\n \r\n13,901.00 \r\n \r\n1,000,00 \r\n \r\n1,000,00 \r\n \r\n$ 3,141,446,35 $ 248,248,64 $ 3,389,694,99 \r\n \r\n\" \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 28 - \r\n \r\n STEWART 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 Donations Indirect Cost Special Revenue Fund Interest Earned Sales Lunches and Breakfast School Assets Shared Service Contributions Webster County Board of Education Quitman County Board of Education 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$ 1,047,559.20 9,181.79 1,983.68 \r\n \r\n$ 1,047,559.20 9,181.79 1,983.68 \r\n \r\n8,000.00 \r\n \r\n$ \r\n \r\n2,794.00 16,184.24 $ \r\n \r\n1,413.57 \r\n \r\n4,130.78 \r\n \r\n31,319.04 \r\n \r\n12,344.22 \r\n \r\n115,110.00 27,253.57 \r\n \r\n3,000.00 194.36 \r\n7,000.00 \r\n \r\n11,000.00 \r\n2,794.00 17,792.17 \r\n31,319.04 4,130.78 \r\n12,344.22 7,000.00 \r\n115,110.00 27,253.57 \r\n \r\n$ 1,244,541.48 $ 32,732.61 $ 10,194.36 $ 1,287,468.45 \r\n \r\nSee notes to the general purpose financial statements. - 29 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT GENERAL AND SPECIAL REVENUE FUNDS \r\nYEAR ENDED JUNE 30. 1996 \r\n \r\nSCHEDULE \"6\" \r\n \r\nEXPENDITURES \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 Rents Insurance Communications Commodity Hauling Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Federal Indirect Costs Other Expenditures \r\nNonoperating Costs Principal and Interest Building and Building Improvements Equipment \r\nTotal Expenditures \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 2,863,852.21 $ 697,794.70 21,149.40 41,805.53 7,961.85 13,774.16 80,701.74 2,747.39 30,819.50 12,886.28 \r\n101,442.64 90,988.68 \r\n45,317.10 34,408.82 \r\n21,167.21 \r\n \r\n536,294.34 $ 118,025.13 \r\n9,332.42 2,276.74 \r\n2,645.78 15,727.01 \r\n1,100.53 1,815.60 1,912.50 42,429.07 16,527.52 180,942.10 \r\n40.88 3,302.00 2,794.00 16,308.78 \r\n \r\n3,400,146.55 815,819.83 30,481.82 44,082.27 7,961.85 16,419.94 96,428.75 2,747.39 30,819.50 13,986.81 1,815.60 1,912.50 143,871.71 107,516.20 180,942.10 45,357.98 37,710.82 2,794.00 37,475.99 \r\n \r\n48,777.08 2,160.00 \r\n66,567.14 \r\n \r\n23,116.00 93,533.14 \r\n \r\n71,893.08 2,160.00 \r\n160,100.28 \r\n \r\n$ 4,184,321.43 $ 1,068,123.54 $ 5,252,444.97 \r\n \r\nSee notes to the general purpose financial statements. - 30 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \r\nLOTIERY PROGRAMS YEAR ENDED JUNE 30.1996 \r\n \r\nSCHEDULE '7\" \r\n \r\nINSTRUCTIONAL TECHNOLOGY \r\n \r\nMODEL TECHNOLOGY \r\nSCHOOLS \r\n \r\nPRE-KINDERGARTEN PROGRAM (1) \r\n \r\nTECHNOLOGY INSTALLATION \r\n \r\nEXPENDITURES \r\n \r\nOperating Costs \r\n \r\nSalaries \r\n \r\n$ \r\n \r\n101,579.13 \r\n \r\n$ \r\n \r\nEmployee Benefits \r\n \r\n22,365.07 \r\n \r\nTravel of Employees \r\n \r\n3,928.71 \r\n \r\nCommunications \r\n \r\n633.56 \r\n \r\nOther Purchased Services \r\n \r\n1,912.50 \r\n \r\nSupplies \r\n \r\n$ \r\n \r\n5,023.20 $ \r\n \r\n442.70 \r\n \r\n8,470.37 \r\n \r\nBooks, Textbooks and Periodicals \r\n \r\n40.88 \r\n \r\nEnergy \r\n \r\n3,438.00 \r\n \r\nDues and Fees \r\n \r\n20.00 \r\n \r\n818.00 \r\n \r\nOther Expenditures \r\n \r\n3,446.67 \r\n \r\nNonoperating Costs Principal and Interest Equipment \r\n \r\n14,590.78 \r\n \r\n8,737.50 \r\n \r\n10,823.00 1,526.92 $ \r\n \r\n30,705.94 \r\n \r\nTOTAL \r\n101,579.13 22,365.07 3,928.71 633.56 1,912.50 13,936.27 40.88 3,438.00 838.00 3,446.67 \r\n10,823.00 55,561.14 \r\n \r\nTotal Expenditures \r\n \r\n$ \r\n \r\n19,633.98 $ \r\n \r\n9,180.20 $ \r\n \r\n158,982.81 $ \r\n \r\n30.705.94 $ \r\n \r\n218,502.93 \r\n \r\n(1) Expenditures in the amount of $32,469.00 associated with the inception of a capital lease have been excluded from this schedule. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 31 - \r\n \r\n THIS PAGE LEFT BLANK \r\n \r\n STEWART COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1996 \r\n \r\nSCHEDULE \"8\" \r\n \r\nMinimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis \r\nSalaries 'Operations \r\nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \r\nExpenditures per Audit \r\nAmount of Underexpenditure for Total Allotment \r\n \r\nTHIRTEEN WEIGHTED AND MEDIA CENTER \r\nPROGRAMS \r\n \r\n100% TEST FOR OPERATIONS PORTION OF THIRTEEN WEIGHTED PROGRAMS \r\n \r\n$ 2,150,557.00 $ _ _---'6:;.::6\"-,4:..::,6..;:.;6...;;.00;;.. \r\n \r\n$ 2,071,130.99 98,221.21 $ _ _---\"-8-\"'4,..;:.;85;...;.7.;.;;;.8..;;..0 \r\n$ 2,169,352.20 \r\n \r\n-9,472.45 $ 2,159,879.75 \r\n \r\n$ \r\n \r\n0.00 $=====0='0=0 \r\n \r\n.\" \r\nSee notes to the general purpose financial statements. - 33 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30,1996 \r\n \r\nGENERAL AND CAREER EDUCATION PROGRAMS Kindergarten (0) Grades 1 - 3 (0) Sub-Total K-3 Grades 4 - 5 (0) Grades 6 - 8 (0) Grades 9  12 (0) High School Laboratories (0) Vocational Education Laboratories (0) Total General and Career Education Programs \r\nSPECIAL EDUCATION PROGRAMS Regular Programs Category I (0) Category II (0) Category III (0) Category IV (0) Sub-Total- Regular Category V (Gifted) (0) Total Special Education Programs \r\nREMEDIAL EDUCATION PROGRAM (0) Total Thirteen Weighted Programs \r\nMEDIA CENTER PROGRAMS Salaries Operations Total Media Center Programs \r\nTotal Thirteen Weighted and Media Center Programs \r\nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \r\nTotal Staff Development Programs (0) Identifies Thirteen Weighted Programs. \r\n \r\nALLOTMENTS FROM DEPARTMENT OF EDUCATION \r\n \r\nREQUIRED \r\n \r\nORIGINAL \r\n \r\n% \r\n \r\nORIGINAL \r\n \r\nMID-TERM \r\n \r\n$ \r\n \r\n158,067,00 \r\n \r\n$ \r\n \r\n142,260,30 \r\n \r\n344,883,00 \r\n \r\n310,394.70 $ \r\n \r\n$ \r\n \r\n502,950.00 90 $ \r\n \r\n452,655.00 $ \r\n \r\n209,263.00 90 \r\n \r\n188,336.70 \r\n \r\n348,186.00 90 \r\n \r\n313,367.40 \r\n \r\n204,358.00 90 \r\n \r\n183,922.20 \r\n \r\n195,578,00 90 \r\n \r\n176,020.20 \r\n \r\n145,473.00 90 \r\n \r\n130,925.70 \r\n \r\n$ 1,605,808.00 \r\n \r\n$ 1,445,227.20 $ \r\n \r\n42,801.00 42,801.00 \r\n42,801.00 \r\n \r\n$ \r\n \r\n347,222.00 \r\n \r\n$ \r\n \r\n312,499.80 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n347,222.00 90 $ \r\n \r\n312,499.80 $ \r\n \r\n36,057.00 90 \r\n \r\n32,451.30 \r\n \r\n$ \r\n \r\n383,279.00 \r\n \r\n$ \r\n \r\n344,951.10 $ \r\n \r\n$ \r\n \r\n50,687.00 90 $ \r\n \r\n45,618.30 $ \r\n \r\n$ 2,039,774.00 \r\n \r\n$ 1,835,796.60 $ \r\n \r\n0.00 \r\n0.00 0.00 42,801.00 \r\n \r\n$ \r\n \r\n54,209.00 90 $ \r\n \r\n48,788.10 $ \r\n \r\n0.00 \r\n \r\n13,773.00 90 \r\n \r\n12,395.70 \r\n \r\n$ \r\n \r\n67,982.00 \r\n \r\n$ \r\n \r\n61,183.80 $ \r\n \r\n0.00 \r\n \r\n$ 2,107,756.00 \r\n \r\n$ 1,896,980.40 $ \r\n \r\n42,801.00 \r\n \r\n$ \r\n \r\n5,711.00 \r\n \r\n17,477.00 \r\n \r\n$ \r\n \r\n5,711.00 $ \r\n \r\n17,477.00 \r\n \r\n$ \r\n \r\n23,188.00 100 $ \r\n \r\n23,188.00 $ \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\n142,260.30 $ \r\n \r\n138,957.36 $ \r\n \r\n5,361.42 $ \r\n \r\n144,318.78 \r\n \r\n353,195.70 \r\n \r\n360,082.04 \r\n \r\n14,215.87 \r\n \r\n374,297.91 \r\n \r\n$ \r\n \r\n495,456.00 $ \r\n \r\n499,039.40 $ \r\n \r\n19,577.29 $ \r\n \r\n518,616.69 $ \r\n \r\n0.00 \r\n \r\n188,336.70 \r\n \r\n189,261.20 \r\n \r\n6,807.84 \r\n \r\n196,069.04 \r\n \r\n0.00 \r\n \r\n313,367.40 \r\n \r\n402,547.61 \r\n \r\n12,323.41 \r\n \r\n414,871.02 \r\n \r\n0.00 \r\n \r\n183,922.20 \r\n \r\n183,152.46 \r\n \r\n21,608.23 \r\n \r\n204,760.69 \r\n \r\n0.00 \r\n \r\n176,020.20 \r\n \r\n175,120.98 \r\n \r\n1,715.23 \r\n \r\n176,836.21 \r\n \r\n0.00 \r\n \r\n130,925.70 \r\n \r\n136,476.36 \r\n \r\n13,026.09 \r\n \r\n149,502.45 \r\n \r\n0.00 \r\n \r\n$ 1,488,028.20 $ 1,585,598.01 $ \r\n \r\n75,058.09 $ 1,660,656.10 \r\n \r\n$ \r\n \r\n312,499.80 \r\n \r\n$ \r\n \r\n58,480.07 $ 120,849.79 136,696.14 \r\n2,738.74 \r\n \r\n6,175.72 $ 114.56 \r\n2,040.00 240.00 \r\n \r\n64,655.79 120,964.35 138,736.14 \r\n2,978.74 \r\n \r\n$ \r\n \r\n312,499.80 $ \r\n \r\n318,764.74 $ \r\n \r\n8,570.28 $ \r\n \r\n327,335.02 \r\n \r\n0.00 \r\n \r\n32,451.30 \r\n \r\n43,497.01 \r\n \r\n660.76 \r\n \r\n44,157.77 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n344,951.10 $ \r\n \r\n362,261.75 $ \r\n \r\n9,231.04 $ \r\n \r\n371,492.79 \r\n \r\n$ \r\n \r\n45,618.30 $ \r\n \r\n59,180.19 $ \r\n \r\n568.67 $ \r\n \r\n59,748.86 \r\n \r\n0.00 \r\n \r\n$ 1,878,597.60 $ 2,007,039.95 $ \r\n \r\n84,857.80 $ 2,091,897.75 \r\n \r\n$ \r\n \r\n48,788.10 $ \r\n \r\n64,091.04 \r\n \r\n$ \r\n \r\n64,091.04 \r\n \r\n0.00 \r\n \r\n12,395.70 \r\n \r\n$ \r\n \r\n13,363.41 \r\n \r\n13,363.41 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n61,183.80 $ \r\n \r\n64,091.04 $ \r\n \r\n13,363.41 $ \r\n \r\n77,454.45 \r\n \r\n$ 1,939,781.40 $ 2,071,130.99 $ \r\n \r\n98,221.21 $ 2,169,352.20 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n5,711.00 \r\n \r\n17,477.00 \r\n \r\n$ ===23=,=18;;:8;;:.0=0 \r\n \r\n$ \r\n \r\n17,906.13 $ \r\n \r\n17,906.13 \r\n \r\n5,282.64 \r\n \r\n5,282.64 \r\n \r\n$ \r\n \r\n23,188.77 $ \r\n \r\n23,188.77 $ ========0=.0=0 \r\n \r\n- 35 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \r\nYEAR ENDED JUNE 30.1996 \r\n \r\nSCHEDULE \"10\" \r\n \r\nBOARD MEMBER ADDRESS \r\nSTEWART COUNTY BOARD MEMBERS \r\nMr. Eugene Baldwin, Chairman (*) P. O. Box 757 Lumpkin, Georgia 31815 \r\nMrs. Joan Flowers (*) Route 1, Box 38-B Lumpkin, Georgia 31815 \r\nMrs. Janice French (*) 785 Wall Street Richland, Georgia 31825 \r\nMr. Billy M. Lee (*) P. O. Box 22 Omaha, Georgia 31821 \r\nMr. David White (*) General Delivery Louvale, Georgia 31814 \r\nQUITMAN COUNTY BOARD MEMBERS \r\nMr. Lloyd T. Lewis, Chairman (*) Route 2, Box 236 Georgetown, Georgia 31754 \r\nMr. Willie J. Anderson (*) Route 2, Box 74 Georgetown, Georgia 31754 \r\nMr. Willie H. Bussey (*) Route 1, Box 32 Morris, Georgia 31767 \r\nMr. George McCarthy (*) Route 2, Box 64 Georgetown, Georgia 31754 \r\nMr. Bobby Willis (*) Route 1, Box 38 Georgetown, Georgia 31754 \r\n \r\nCOMPENSATION \r\n \r\nTRAVEL \r\n \r\n$ \r\n \r\n1,950.00 $ \r\n \r\n1,500.00 \r\n \r\n1,425.00 \r\n \r\n875.00 \r\n \r\n1,425.00 \r\n \r\n316.35 106.50 \r\n14.00 \r\n \r\n350.00 \r\n \r\n$ \r\n \r\n7,525.00 $ ====4=3=6=.8:=5 \r\n \r\nStewart and Quitman Counties operate a consolidated high school located in Stewart County. Members of the Quitman County Board of Education are paid per diem for each meeting of the Stewart County Board of Education they attend. \r\n \r\n(*) Denotes Board Members Serving as of June 30, 1996 See 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\nJuly 3, 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 Stewart 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 ofthe Stewart County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated July 3, 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 Stewart 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\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:jy 96CRL-IO \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\nJuly 3, 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 Stewart County Board of Education \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 Stewart County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated July 3, 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 Stewart 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) Drug-Free Workplace Act \r\n \r\n(3) Cash Management \r\n \r\n(7) Audit Follow-Up/Resolution \r\n \r\n(4) Federal Financial Reports \r\n \r\n(8) Administrative Requirements \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 Stewart County Board of Education's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. \r\n.' 96CRL-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 Stewart 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 ofthis report which is a matter of public record. \r\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:jy 96CRL-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\nJuly 3, 1997 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the Stewart County Board of Education \r\n \r\nSINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\n \r\nLadies and Gentlemen: \r\n \r\nWe have audited the general purpose fmancial statements ofthe Stewart County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated July 3, 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 also audited the Stewart County Board of Education's compliance with the requirements governing: \r\n \r\n(1) Types of Services Allowed or Unallowed \r\n \r\n(5) Applicable Special Tests and Provisions \r\n \r\n(2) Eligibility \r\n(3) Matching, Level of Effort, and/or Earmarking \r\n \r\n(6) Other Requirement Claims for Advances and Reimbursements \r\n \r\n(4) Reporting \r\n \r\nThese requirements are applicable to the major Federal financial assistance program, which is identified in the Schedule of Federal Financial Assistance, for the year ended June 30, 1996. The management of the Stewart County Board of Education is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit. \r\n \r\n96CRL-80 \r\n \r\n We conducted our audit of compliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and Office of Management and Budget (OMB) Circular A-128, \"Audits of State and Local Governments\". Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Board's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion. \r\nIn our opinion, the Stewart County Board of Education complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance program for the year ended June 30, 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\nRZU:;Z \r\n \r\nCLV:jy 96CRL-80 \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\nJuly 3, 1997 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the Stewart 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 fmancial statements of the Stewart County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated July 3, 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\nIn connection with our audit of the fiscal year 1996 general purpose financial statements of the Stewart County Board of Education and with our consideration of the Board's control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (OMB) Circular 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, 1996. As required by OMB Circular A-128, we have perfonned auditing procedures on the selected transactions to test compliance with the requirements governmg: \r\n \r\n(1) 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 Stewart 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 Stewart County Board of Education had not complied, in all material respects, with those requirements. 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 CLV:jy 96CRL-120 \r\n.' \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\nJuly 3, 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 Stewart 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 fmancial statements ofthe Stewart County Board of Education as ofand for the year ended June 30, 1996, and have issued our report thereon dated July 3, 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 Stewart 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 of general purpose financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation 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 fmancial statements ofthe Stewart County Board ofEducation for the year ended June 30,1996, we obtained an understanding ofthe internal control structure. With respect to the internal control structure, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to 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\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 of the internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report fmancial 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(l) 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 the reportable conditions disclosed above are also considered to be material weaknesses. \r\n \r\nThese conditions were considered in determining the nature, timing, and extent of the procedures to be performed in our audit of the Stewart County Board of Education's financial statements and this report does not affect our report thereon dated July 3, 1997. \r\n \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\n \r\nCLV:jy 96ICL-3 \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\nJuly 3, 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 Stewart 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 Stewart County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated July 3, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We have also audited the Stewart County Board of Education's compliance with requirements applicable to its major Federal financial assistance program and have issued our opinion thereon dated July 3, 1997. \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 (OMB) Circular A-128, \"Audits of State and Local Governments\". Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the Stewart County Board of Education complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program. \r\nIn planning and performing our audit for the year ended June 30, 1996, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinions on the Board's general purpose financial statements and on its compliance with requirements applicable to major Federal financial assistance programs and to report on the internal control structure in accordance with OMB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated July 3, 1997. \r\n96ICL-11 \r\n \r\n The management of the Stewart County Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that, assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that Federal financial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness ofthe design and operation of policies and procedures may deteriorate. \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(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) Drug-Free Workplace Act (7) Audit Follow-UplResolution (8) 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 determined whether they have been placed in operation, and we assessed control risk. \r\n \r\nDuring the year ended June 30, 1996, the Stewart County Board of Education expended 76% of its total Federal financial assistance under a major Federal financial assistance program and the following nonmajor Federal financial assistance program: \r\n \r\n96ICL-l1 \r\n \r\n Food and Nutrition Program Food Services National School Lunch Program \r\nWe perfonned tests of controls, as required by OMB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements and specific requirements as described above that are applicable to the Board's major Federal financial assistance program, which is identified in the Schedule of Federal Financial Assistance, and the aforementioned nonmajor program. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. \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 Board's ability to administer Federal financial assistance programs in accordance with applicable laws and regulations. \r\nAs described 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 of the internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the nonnal course of perfonning their assigned functions. \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 condition was considered in detennining the nature, timing, and extent ofthe procedures to be perfonned in our audit ofthe Stewart County Board of Education's compliance with requirements applicable to its major Federal financial assistance program for the year ended June 30, 1996, and this report does not affect our report thereon dated July 3, 1997. \r\n.' \r\n96ICL-ll \r\n \r\n This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies and should not be used for any other purpose. This restrictionis not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n \r\nCLV:jy 96ICL-ll \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\n \r\n STEWART 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 7281-93-04 \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 $1 ,957.50 for the Staff Development - Professional Development Stipends Program. For the year under review, these funds were returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs. \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $4,205.41 Audit Control Number 7281-94-02 \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 $4,205.41 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 $4,205.41 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 Improper Lease Agreement Financial Statements Finding Deleted Audit Control Number 7281-95-01 \r\nThe audit report for the year ended June 30, 1995, reported that the Board entered into a lease agreement which did not contain the required calender year end TerminationlRenewal clause required by the Official Code of Georgia Annotated (OCGA) Section 20-2-506. \r\nDuring the year under review, all obligations related to this lease were paid in full. \r\n- 1- \r\n \r\n STEWART 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 Unearned Lottery Funds Financial Statements Finding Resolved Audit Control Number 7281-95-02 \r\nThe audit report for the year ended June 30, 1995, revealed the Board received $228.46 in Media Center and Library Equipment Lottery funds in excess ofthe amount needed to cover program expenditures. This matter had not been resolved at June 30, 1996. However, in the subsequent fiscal period, a refund of $228.46 was made to the Georgia Department of Education and this amount is included in the accounts payable shown on the Combined Balance Sheet, Exhibit \"A\" of this report. \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to File Completion Report Financial Statements Finding Resolved Audit Control Number 7281-95-03 \r\nThe audit report for the year ended June 30, 1995, revealed that the Board failed to file a completion report for the Lottery Program - Pre-Kindergarten Program as required by guidelines established by the Georgia Department of Education. During the year under review, the Board implemented procedures to ensure that completion reports are submitted when required and a copy ofthe 1995 completion report was filed with the Georgia Department of Education. \r\nAUDIT FOLLOW-UP/RESOLUTION Expired Grant Balance/Questioned Cost Federal Financial Assistance Finding Resolved Audit Control Number 7281-95-04 \r\nThe audit report for the year ended June 30, 1995, reported that the project completion report submitted by the Board for the Elementary and Secondary Education Act - Title I Program (CFDA 84.010), 1995 project included expenditures of $3.20 which were not liquidated in the 90 days following the end of the grant award period, as required by the Georgia Department of Education. An audit adjustment reducing expenditures by $3.20 was posted to the financial statements resulting in an unexpended grant balance of $3.20 which should be refunded to the Georgia Department of Education. This matter had not been resolved at June 30, 1996. However, in the subsequent fiscal period, a refund of $3.20 was made to the Georgia Department of Education and this amount is included in the accounts payable shown on the Combined Balance Sheet, Exhibit \"A\" of this report. \r\n-2- \r\n \r\n STEWART 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 Inadequate Accounting Records Federal Financial Assistance Finding Resolved Audit Control Number 7281-95-05 \r\nThe audit report for the year ended June 30, 1995, reported that the accounting records ofthe Individuals with Disabilities Education Act - Title VI, B - Flow Through Program (CFDA 84.027) were not maintained on an individual project basis. Requirements of 34 CFR 80.20 mandate that accounting records be adequately segregated to ensure identification of revenues and expenditures by specific project. For the year under review, the Board implemented procedures to ensure that federal grant programs will be maintained on an individual project ~asis as required. \r\nPRIOR YEAR/CURRENT YEAR \r\nACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation of Duties Reportable Condition - Material Weakness Audit Control Number 7281-93-02 \r\nThe audit report for the year ended June 30, 1994, stated that the Board did not provide for adequate separation of employee duties in the performance of accounting functions and related procedures. For the year under review, no improvement in adequate separation ofemployee duties was noted. This condition was a result ofmanagement's decision to limit the number ofadministrative staffmade responsible for accounting functions. Management should periodically review this decision to determine if employee duties can be reassigned to achieve a higher degree of internal control with existing staff. \r\nNote: All Federal financial assistance programs listed in the Schedule of Federal Financial Assistance, Schedule\" 1\" of this report, are affected by this finding. \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 7281-93-03 \r\nThe audit report for the year ended June 30, 1994, noted that the management of the Stewart 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. For the year upder review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This \r\n-3- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1996 \r\nPRIOR YEAR/CURRENT YEAR GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 7281-93-03 condition results in the general purpose fmancial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance ofa General Fixed Assets Account Group. These subsidiary records should include an inventory of land, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. \r\nNote: The Stewart 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\" \r\n-4- \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bs84-b1994-h95","title":"Audit report, Stewart County Board of Education, Lumpkin, Georgia, year ended June 30, 1995","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Stewart County, 32.07846, -84.8352"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1995-06-30"],"dcterms_description":["Fiscal year ended June 30, 2000-","Ceased with: Fiscal year ended June 30, 2008.","Title from cover.","Report year covers fiscal year.","Has supplements: Stewart County Board of Education, Lumpkin, Georgia, schedule of salaries and travel for the fiscal year ended ..., fiscal year ended June 30, 2000-fiscal year ended June 30, 2002; Report on salary and travel for the fiscal year ended ... (Stewart County Board of Education, Ga.), fiscal year ended June 30, 2003-fiscal year ended June 30, 2007; Salaries and travel reimbursement (Stewart County Board of Education, Ga.), fiscal year ended June 30, 2008.","Fiscal year ended June 30, 2008, released in 2009? (online surrogate); (Georgia Government Publications database, viewed July 7, 2023)."],"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":["Stewart County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Stewart County--Auditing--Periodicals.","Education--Georgia--Stewart County--Finance--Statistics--Periodicals.","Education--Auditing","Education--Finance","Expenditures, Public","Georgia--Stewart County--fast","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Stewart County Board of Education, Lumpkin, 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-bs84-b1994-h95"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bs84-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":["Education--Auditing--fast","Education--Finance--fast","Expenditures, Public--fast","Georgia--Stewart County--fast","Periodicals--fast","Statistics--fast"],"fulltext":"GA \r\nA~oo \r\n-RI E2b S8'4 \r\n19q 4-95 \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS \r\n254 WASHINGTON STREET ATLANTA, GEORGIA 30334 \r\n \r\n AUDIT REPORT STEWART COUNTY BOARD OF EDUCATION \r\nLUMPKIN, GEORGIA YEAR ENDED JUNE 30, 1995 \r\n \r\n STEWART 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\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\n3 \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\n6 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING 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\nSCHEDULES \r\n \r\n1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\n22 \r\n \r\n2 CASH AND CASH EQUIVALENTS \r\n \r\n24 \r\n \r\n3 ACCOUNTS RECEIVABLE \r\n \r\n25 \r\n \r\nSCHEDULE OF REVENUE \r\n \r\n4 \r\n \r\nSTATE \r\n \r\n26 \r\n \r\n5 \r\n \r\nLOCAL AND OTHER \r\n \r\n27 \r\n \r\nSCHEDULE OF EXPENDITURES BY OBJECT \r\n \r\n6 \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n29 \r\n \r\n7 \r\n \r\nLOTTERY PROGRAMS \r\n \r\n30 \r\n \r\n STEWART COUNTY BOARD OF EDUCATION -_ TABLE OF CONTENTS - \r\n \r\nPage \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 OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR 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 STEWART COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\nSECTIONN 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 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\nApril 23, 1996 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members of the Stewart 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) ofthe Stewart County Board of Education, as of and for the year ended June 30, 1995, as listed in the table of contents. These financial statements are the responsibility of the Board's management. Our responsibility is to express an opinion on these financial statements based on our audit. \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 \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\n95ARL-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, 1995, a portion of salaries and the corresponding employer's cost ofrelated 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 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, 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 the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Stewart County Board of Education as of June 30, 1995, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. In accordance with Government Auditing Standards, we have also issued a report dated April 23, 1996, on our consideration ofthe Board's internal control structure and a report dated April 23, 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 Stewart County Board ofEducation taken as a whole. The combining statements (Exhibits E and F) and the financial schedules (Schedules I through 10 which includes the Schedule of Federal Financial Assistance) are presented for purposes ofadditional analysis and are not a required part of the general purpose financial statements of the Stewart County Board of Education. 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 ofthis report has been filed as a permanent record in the office of the State Auditor and made available \r\nto the press ofthe State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \r\nRespectfully submitted, \r\n \r\nCLV:gp 95ARL-13* \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n STEWART COUNTY BOARD OF EDUCATION - 1- \r\n \r\n TEWARI COU!:il)'. IK2ABQ QE EOUCAI!Qt,! \r\n~MBINEQ BALANCE SH;;!;! \r\n\u0026 B.!NQ TYPE ANQ ACCOUI:{[ !:iBQUP JUNE 3Q, 1995 \r\n \r\nEXHIBIT\"A\" \r\n \r\n~ \r\nCash and Cash Equivalents \r\nAccounts Receivable \r\nInventories Food Donatacl Commodities Purchased Food \r\nAmount to be Provided in Future Years For Payment cl 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\nACCOUNT GROUP GENERAL \r\nLONG-TERM DEBT \r\n \r\nTOTALS \r\n(Memorandum On~l \r\nJUNE 301 1995 JUNE 301 1994 \r\n \r\n$ 554,697.13 $ 93,517.91 $ 36,636.82 \r\n \r\n$ 684,851.86 $ 388,853.70 \r\n \r\n2,629.74 \r\n \r\n78,449.42 \r\n \r\n81,079.16 \r\n \r\n147,075.76 \r\n \r\n5,75625 2,121.67 \r\n \r\n5,756.25 2,121.67 \r\n \r\n6,540.47 3,141.37 \r\n \r\n$ \r\n \r\n99,928.75 \r\n \r\n99,928.75 \r\n \r\n134,!i69.43 \r\n \r\nTotal Assets \r\n \r\n$ 557,326.87 $ 179,845.25 $ 36,636.82 $ \r\n \r\n99,928.75 $ 873.737.69 $ 680,180.73 \r\n \r\n1.!Aall.!IIES~ fUNQEQUITY \r\nL~ILIIIE \r\nAccounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue Capital Lease Agreements \r\nTolal Liabilities \r\nFUt!!DEQUITY \r\nFund Balances Reserved For 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$ 11,117.35 56,536.98 1,148.01 1s.n3.49 $ \r\n \r\n$ 85,525.83 \r\n \r\n$ \r\n \r\n$ \r\n \r\n6,162.91 $ \r\n \r\n231.66 \r\n \r\n$ \r\n \r\n6,162.91 $ \r\n \r\n551,163.96 \r\n \r\n$ 557,326.87 $ \r\n \r\n5,756.25 2,121.67 8,109.58 \r\n86,209.84 $ \r\n94,319.42 $ \r\n \r\n36,636.82 36,636.82 \r\n \r\n$ \r\n99,928.75 99,928.75 $ \r\n \r\n11,117.35 $ 56,536.98 \r\n1,148.01 1s,n3.49 99,928.75 \r\n185,454.58 $ \r\n \r\n24,sn.38 63,834.73 \r\n863.12 4,748.60 134,569.43 \r\n228,988.26 \r\n \r\n$ \r\n \r\n9,500.58 \r\n \r\n$ \r\n \r\n6,394.57 \r\n \r\n6,162.91 \r\n \r\n5,756.25 2,121.67 \r\n \r\n6,540.47 3,141.37 \r\n \r\n$ \r\n \r\n14,272.49 $ \r\n \r\n25,345.33 \r\n \r\n674,010.62 \r\n \r\n425,847.14 \r\n \r\n$ 688,283.11 $ 451,192.47 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 557,326.87 $ 179,845.25 $ 36,636.82 $ \r\n \r\n99,928.75 $ 873.737.69 $ 680.180.73 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -2- \r\n \r\n STEWABI ~!.!t!IY aQABQ QE EQ!.!CADQN \r\n~Ml;!!NEQ ilAIEME~ QE B~EN!,!ES EXeENQ!I!.!BES A~Q Ct:fAN~Es IN E!.!NQ !;!AL.ANCES \r\nALL. ~QiEB~Ml;;!ilAL. E!.!NQ TYeEs \r\nYEAB ENQEQ J!,!NE 30, 1995 \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 On!Xl \r\nYEAR ENDED \r\nJUNE 3011995 JUNE 3011994 \r\n \r\nBEYEN!,!ES \r\nState Funds Federal Funds Local and other Funds \r\nTotal Revenues \r\n \r\n$ 2,845,346.89 $ 46,218.80 \r\n112461681.60 \r\n \r\n418,374.85 718,889.62 \r\n291049.69 $ \r\n \r\n$ 411381247.29 $ 111661314.16 $ \r\n \r\n$ 81908.92 81908.92 s \r\n \r\ns 3,263,n1.74 \r\n765,108.42 112841640.21 \r\n513131470.37 $ \r\n \r\n2,899,584.98 803,213.82 \r\n110891278.78 \r\n4-7921on.sa \r\n \r\nEXPENQmJRES \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 other Operations of Non-Instructional Services \r\nCapital Outlay Debt Service \r\nPrincipal Interest \r\n \r\n$ 2,317,760.68 $ \r\n130,406.48 97,099.99 94,208.75 \r\n115,400.15 332,382.26 \r\n55,850.80 363,060.15 313,131.62 \r\n18,478.00 \r\n63,5n.36 \r\n43,964.97 61263.61 \r\n \r\n558,354.31 $ \r\n45,908.72 29,135.11 4,639.70 61,152.13 \r\n3,000.00 2,602.44 1,189.98 1,4n.44 \r\n45,290.52 370,635.88 \r\n6,011.06 \r\n15,345.71 2,922.99 \r\n \r\n0.00 $ 2,876,114.99 $ 2,654,715.47 \r\n \r\n176,315.20 126,235.10 98,848.45 176,552.28 335,382.26 58,453.24 364,250.13 314,604.06 \r\n18,478.00 45,290.52 370,635.88 \r\n \r\n116,412.30 116,610.n 115,768.63 187,260.50 354,904.83 55,467.55 382,059.33 321,756.42 \r\n15,632.00 aa,248.n 348,123.48 \r\n \r\n63,5n.36 6,011.06 \r\n \r\n52,018.22 47,196.56 \r\n \r\n59,310.68 91186.60 \r\n \r\n66,398.14 8?31.04 \r\n \r\nTotal Expenditures \r\n \r\n$ 3,9511584.82 $ 1,1471660.99 $ \r\n \r\n0.00 $ 5,0991245.81 $ 419311363.96 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ 186,662.47 $ \r\n \r\n18,653.17 $ \r\n \r\n8,908.92 $ 2141224.56 $ -139,286.38 \r\n \r\nQTHER FINANCIN~ SQURCES (US!;;S} \r\n \r\nCapital Leases Operating Transfers In Operating Transfers Out \r\n \r\n$ \r\n \r\n24,670.00 \r\n \r\n$ \r\n \r\n-25?13.94 \r\n \r\n713.94 $ \r\n \r\n$ 25,000.00 \r\n \r\n24,670.00 $ 25,713.94 -25?13.94 \r\n \r\n85,654.40 165.05 -165.05 \r\n \r\nTotal Other Financing Sources (Uses) $ \r\n \r\nExcess of Revenues and other Financing Sources \r\n \r\nover (under) Expenditures and Other Financing \r\n \r\nUses \r\n \r\n$ \r\n \r\n-1,043.94 $ 185,618.53 $ \r\n \r\n713.94 $ \r\n \r\n251000.00 s \r\n \r\n24,670.00 $ \r\n \r\n851654.40 \r\n \r\n19,367.11 $ 33,908.92 $ 238,894.56 $ -53,631.98 \r\n \r\nFUNQ BAbtiNCE JULY 1 \r\n \r\n371,708.34 \r\n \r\n76,756.23 \r\n \r\n2,n1.eo \r\n \r\n451,192.47 \r\n \r\n508,054.38 \r\n \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\n-784.22 -1 019.70 \r\n \r\n-784.22 -1 019.70 \r\n \r\n-2,239.15 -990.78 \r\n \r\nE!.!ND BALANCE J!,!N~ 30 \r\n \r\n$ 5571326.87 $ \r\n \r\n941319.42 $ 361636.82 $ 6881283.11 $ 4511192.47 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -3- \r\n \r\n  STEWART COUNTY BOARD OF EDUCATION TATEMENT 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\nEXHIBITc \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 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\nAdjustments \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$ 2,777,367.00 $ 2,845,346.89 \r\n \r\n32,044.00 \r\n \r\n46,218.80 \r\n \r\n11174,536.00 11246,681.60 \r\n \r\n$ 3,983,947.00 $ 4,138,247.29 \r\n \r\n$ 2,294,427.10 $ 2,317,760.68 \r\n \r\n139,952.00 99,726.00 97,825.72 \r\n116,161.00 334,420.00 \r\n57,515.00 366,576.00 359,454.00 \r\n42,711.00 \r\n \r\n130,406.48 97,099.99 94,208.75 \r\n115,400.15 332,382.26 \r\n55,850.80 363,060.15 313,131.62 \r\n18,478.00 \r\n \r\n57,794.00 25,000.00 \r\n \r\n63,577.36 50,228.58 \r\n \r\n$ 3,991,561.82 $ 3,951,584.82 \r\n \r\n$ \r\n \r\n-7,614.82 $ 186,662.47 \r\n \r\n$ \r\n \r\n24,670.00 \r\n \r\n-25,713.94 \r\n \r\n$ \r\n \r\n-1,043.94 \r\n \r\n$ -7,614.82 $ 185,618.53 \r\n \r\n308,396.56 \r\n \r\n371,708.34 \r\n \r\n-1,762.00 \r\n \r\nFUND BALANCE JUNE 30, 1995 \r\n \r\n$ 299,019.74 $ 557,326.87 \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$ 36,005.00 $ 418,374.85 \r\n \r\n655,290.00 \r\n \r\n718,889.62 \r\n \r\n16,200.00 \r\n \r\n29,049.69 \r\n \r\n$ 707,495.00 $ 1,166,314.16 \r\n \r\n$ 279,612.00 $ 558,354.31 \r\n \r\n7,147.00 17,057.00 \r\n59,255.00 \r\n \r\n45,908.72 29,135.11 \r\n4,639.70 61,152.13 \r\n3,000.00 2,602.44 1,189.98 1,472.44 \r\n \r\n41,246.00 324,463.00 \r\n \r\n45,290.52 370,635.88 \r\n \r\n6,011.06 18,268.70 \r\n \r\n$ 728,780.00 $ 1,147,660.99 \r\n \r\n$ -21,285.00 $ 18,653.17 \r\n \r\n$ \r\n \r\n713.94 \r\n \r\n$ \r\n \r\n713.94 \r\n \r\n$ -21,285.00 $ 74,952.11 -436.25 \r\n \r\n19,367.11 67,074.39 \r\n \r\n$ 53,230.86 $ 86,441.50 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. - 5- \r\n \r\n STEWART 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 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nThe Stewart County Board ofEducation (Board) was established under the laws ofthe State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. With the exception ofthe departures from generally accepted accounting principles disclosed in these notes, the financial statements of the Board have been prepared in conformity with generally accepted \r\naccounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) \r\nis 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 Stewart County Board ofEducation. \r\nBased upon the application ofthe above criteria, the Stewart 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 Stewart 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, 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 STEWART 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 I: Sl.ThTMARY 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 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\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 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\n- 7- \r\n \r\n STEWART 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 1: SillvfMARY OF SIGNIFICANT ACCOUNTING POLICIES \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\nGovernmental funds are accounted for using the modified accrual basis ofaccounting 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 ofEducation 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 ofthe compensation paid in July and August 1995 was received and recorded as revenue in the fiscal year subsequent to June 30, 1995. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1994, were recorded in the year ended June 30, 1995. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \r\nBUDGET \r\nThe Stewart 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\n- 8- \r\n \r\n STEWART 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\nThe budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions ofthe 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 ofRevenues 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\nCASH AND CASH EQUIVALENTS \r\n \r\nSpecial Revenue \r\nFund \r\n$ 19,367.11 76,756.23 \r\n-6,540.47 -3 141.37 $ 86,441.50 \r\n \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist ofdeposits (including 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\n \r\nRECEIVABLES \r\n \r\nReceivables consist of grant reimbursements due from Federal, State or other granters for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when \r\n \r\n- 9- \r\n \r\n STEWART 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 1: SUM:MARY 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 Stewart County Board ofCommissioners fixed the property tax levy for the 1994 tax year (calendar year) on July 28, 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 Stewart County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% oftaxes collected as a fee for tax collection, and remits the balance oftaxes collected to the Board. \r\n \r\nThe tax millage rate levied for the 1994 tax year (calendar year) for the Stewart County Board ofEducation was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n14 38 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\nINTERFUND TRANSACTIONS \r\n \r\nThe Board has the following types ofinterfund 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 other than reimbursements. \r\n \r\n- 10 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\n \r\nEXIBBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATE1\\.1ENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \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 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 ofthe 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 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(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of  Georgia, and \r\n \r\n- 11 - \r\n \r\n STEWART 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 2: DEPOSITS \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 $1,067,240.31. The amounts of the total bank balances are classified into three categories of credit risk: \r\n \r\nCategory I - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \r\n \r\nThe Board's deposits are classified by risk category at June 30, 1995, as follows: \r\n \r\nRisk Category \r\n \r\nBank Balance \r\n \r\nI \r\n \r\n$ 100,000.00 \r\n \r\n2 \r\n \r\n0.00 \r\n \r\n3 \r\n \r\n967,240.31 \r\n \r\nTotal \r\n \r\n$ 1,067,240.31 \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 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; and natural disaster. \r\n \r\n- 12 - \r\n \r\n STEWART 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 4: RISK MANAGEMENT \r\n \r\nThe Board has obtained commercial insurance for risk ofloss associated with torts and assets. 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 errors or omissions, which includes, among other risks, risks for sexual harassment and discrimination. Additionally, the 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 participates in the Georgia School Boards Association Workers' Compensation Fund, a public entity risk pool organized on July 1, 1992 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 Safety National Casualty Corporation to provide coverage for potential losses sustained by the Fund in excess of $250,000.00 loss per occurrence, up to the statutory limit. Also, should losses within the retained limit of $250,000.00 aggregate to more than eighty-five percent (85%) of the standard experience rated premium during the policy term, the policy with Safety National Casualty Corporation will pay the next $1,000,000.00 ofloss. \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCAPITAL LEASES The Stewart County Board of Education has entered into various lease agreements as lessee for computer equipment, vocational education equipment, buses and a copier. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value of the future minimum lease payments as of the date of their inception. \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1995, were as follows: \r\n \r\nCapital Leases \r\n \r\nBalance July 1, 1994 \r\n \r\n$ 134,569.43 \r\n \r\nAdditions \r\n \r\n24,670.00 \r\n \r\nDeductions \r\n \r\n59,310.68 \r\n \r\nBalance June 30, 1995 \r\n \r\n$ 99 928,75. \r\n \r\n- 13 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\n \r\nEXJilBIT \"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\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 \r\n \r\n$ 55,741.48 35,722.35 19,868.04 \r\n \r\nTotal Principal and Interest \r\n \r\n$ 111,331.87 \r\n \r\nDeduct: Imputed Interest \r\n \r\n11,403.12 \r\n \r\nNet Present Value ofFuture Minimum Lease Payments \r\n \r\n$ 99 928,75 \r\n \r\nNote 6: 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 a legal proceeding pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition ofthis proceeding is not presently determinable, but is not believed to be material to the general purpose financial statements. \r\n \r\nNote 7: 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 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 \r\n \r\n- 14 - \r\n \r\n STEWART 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: RETIREMENT PLANS \r\n \r\nmultiplied by the number of years of creditable service up to40 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\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, 1995, was $2,754,373.39; total payroll was $3,264,540.97. \r\n \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 1995 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 $463,047.17, ofwhich $325,291.19 was made by the Board and $137,755.98 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll. \r\n \r\nTRS FUNDING STATUS AND PROGRESS \r\n \r\nThe amount of the total pension benefit obligation is based on a standardized measurement established by \r\n \r\nStatement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must \r\n \r\nbe used by a PERS. The standardized measurement is the actuarial present value of credited projected \r\n \r\nbenefits. This valuation method reflects the present value of estimated pension benefits that will be paid in \r\n \r\nfuture years as a result of employee services performed to date, and is adjusted for the effects of projected \r\n \r\nsalary increases. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable \r\n \r\nreaders of PERS financial statements to assess that PERS funding status on a going-concern basis, assess \r\n \r\nprogress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other \r\n \r\nPERS and among other employers. \r\n \r\n \r\n \r\n- 15 - \r\n \r\n STEWART 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: RETIREMENT PLANS \r\n \r\nTotal unfunded pension benefit obligation ofTRS as ofJune 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$325,291.19 was actuarially determined and represented .0576% 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\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 in accordance with State statute. \r\n \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 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. 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\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\n- 16 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\n \r\nEXI-llBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 7: RETIREMENT PLANS \r\nThere were 31 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 $1,080.00. 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 8: SURETY BONDS \r\nThe School Superintendent, Mr. Fountain B. Wuns, is bonded in the amount of$25,000.00 with the Western Surety Company, Sioux Falls, South Dakota, their Bond No. 58595288, on which premium was paid through August 31, 1995. \r\n \r\n- 17 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND \r\nJUNE 30. 1995 \r\n \r\nASSETS Cash and Cash Equivalents Accounts Receivable Inventories \r\nFood Donated Commodities \r\nPurchased Food \r\nTotal Assets \r\n \r\nELEMENTARY \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nSTATE PRESCHOOL HANDICAPPED \r\nPROGRAM \r\n \r\nLOTTERY PROGRAMS \r\n \r\nCHAPTER 1 \r\nEDUCATION OF DEPRIVED CHILDREN \r\n \r\n$ 81,717.74 $ \r\n \r\n649.04 $ 15,349.17 \r\n \r\n15,815.44 \r\n \r\n1,602.78 $ \r\n \r\n58,669.03 \r\n \r\n5,756.25 2,121.67 \r\n$ 105,411.10 $ _ _ _64_9_.04_$ 16,951.95 $ _ _ _ss_,6_69_.03_ \r\n \r\nLIABILITIES ANO FUND EQUITY \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food \r\nUnreserved Undesignated \r\nTotal Fund Equity \r\nTotal Liabilities and Fund Equity \r\n \r\n$ \r\n \r\n737.38 \r\n \r\n10,585.96 \r\n \r\n$ \r\n \r\n$ 11,323.34 $ \r\n \r\n$ \r\n \r\n649.04 $ \r\n649.04 $ \r\n \r\n16,723.49 16,723.49 $ \r\n \r\n4,726.37 9,385.23 44,519.05 \r\n35.18 \r\n58,665.83 \r\n \r\n$ 5,756.25 2,121.67 \r\n \r\n$ \r\n \r\n7,8n.92 \r\n \r\n86,209.84 $ \r\n \r\n$ 94,087.76 $ \r\n \r\n$ 105,411.10 $ \r\n \r\n$ \r\n \r\n228.46 $ \r\n \r\n3.20 \r\n \r\n$ \r\n \r\n228.46 $ \r\n \r\n3.20 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 $ \r\n \r\n228.46 $ \r\n \r\n3.20 \r\n \r\n649.04 $ 16,951.95 $ _ _ _ss_.66_9_.o_3 \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\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\nJOB TRAINING PARTNERSHIP \r\nACT \r\n \r\nTOTALS JUNE 30, 1995 JUNE 30, 1994 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n426.34 $ \r\n \r\n108.16 $ \r\n \r\n0.00 $ \r\n \r\n98,250.45 $ \r\n \r\n88,209.06 \r\n \r\n$ \r\n \r\n6.17 \r\n \r\n2,356.00 \r\n \r\n78,449.42 \r\n \r\nn.s11.14 \r\n \r\n$ _ _ _ _ _0_._00_$ \r\n \r\n6.17 $ \r\n \r\n2,782.34 $ \r\n \r\n108.16 $ \r\n \r\n5,756.25 2,121.67 \r\n \r\n6,540.47 3,141.37 \r\n \r\n0.00 $ 184,Sn.19 $ 175,808.64 \r\n \r\n$ \r\n \r\n6.17 \r\n \r\n$ \r\n \r\n994.74 \r\n \r\n1,431.97 \r\n \r\n355.63 $ \r\n \r\n108.16 \r\n \r\n$ \r\n \r\n6.17 $ \r\n \r\n2,782.34 $ \r\n \r\n108.16 \r\n \r\n$ \r\n \r\n4,732.54 $ \r\n \r\n1,n1.89 \r\n \r\n11,117.35 \r\n \r\n21,834.07 \r\n \r\n56,536.98 \r\n \r\n63,834.73 \r\n \r\n1,148.01 \r\n \r\n863.12 \r\n \r\n16,723.49 \r\n \r\n4,748.60 \r\n \r\n$ \r\n \r\n90,258.37 $ \r\n \r\n99,052.41 \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\n0.00 $ 0.00 $ \r\n \r\n$ \r\n \r\n231.66 \r\n \r\n$ 0.00 0.00 $ \r\n \r\n5,756.25 $ 2,121.67 \r\n8,109.58 $ \r\n86,209.84 94,319.42 $ \r\n \r\n6,540.47 3,141.37 9,681.84 \r\n67,074.39 76,756.23 \r\n \r\n6.17 $ \r\n \r\n2,782.34 $ _ _ _1_08_._16_ $ _ _ _ _o_.oo_ $ 184,5n.79 $ 175,808.64 \r\n \r\n-19- \r\n \r\n STEWART 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 Business Administration Maintenance and Operation of Plant Student Transportation .Services Other Support Services Food Services Operation Capital Outlay Debt Service Principal Interest \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES \r\nCapital Lease Operating Transfers In \r\nTotal Other Financing Sources \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\nFUND BALANCE JUNE 30 \r\nSee notes to the general purpose financial statements. \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nELEMENTARY \r\n \r\nSTATE PRESCHOOL HANDICAPPED \r\nPROGRAM \r\n \r\nLOTTERY PROGRAMS \r\n \r\nCHAPTER 1 EDUCATION OF \r\nDEPRIVED CHILDREN \r\n \r\n$ 23,378.00 $ 334,841.72 29,049.69 \r\n$ 387,269.41 $ \r\n \r\n11,9n.96 $ 383,018.89 $ \r\n11,9n.96 $ 383,018.89 $ \r\n \r\n332,041.02 332,041.02 \r\n \r\n$ \r\n$ 368,133.96 $ 368, 133.96 $ $ 19,135.45 $ \r\n \r\n$ 304,602.65 $ \r\n \r\n8,429.96 3,548.00 \r\n \r\n31,363.41 7,222.98 4,639.70 750.00 3,000.00 2,602.44 1,189.98 1,472.44 1,300.00 2,501.92 6,011.06 \r\n \r\n13,946.34 2,656.44 \r\n \r\n11,977.96 $ 383,259.36 $ \r\n \r\n0.00 $ \r\n \r\n-240.47 $ \r\n \r\n231,354.40 60,317.27 40,442.52 \r\n332,114.19 -73.17 \r\n \r\n$ 19,135.45 $ 76,756.23 -784.22 -1,019.70 \r\n$ 94,087.76 $ \r\n-20- \r\n \r\n$ $ \r\n0.00 $ 0.00 \r\n \r\n468.93 $ 468.93 $ \r\n228.46 $ 0.00 \r\n \r\n76.37 76.37 \r\n3.20 0.00 \r\n \r\n____ ......,_ \r\n \r\n0.00 $ \r\n \r\n228.46 $ \r\n \r\n3.20 \r\n \r\n EXHIBITP \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\nJOB TRAINING PARTNERSHIP \r\nACT \r\n \r\nTOTALS YEAR ENDED JUNE 30, 1995 JUNE 30, 1994 \r\n \r\n$ 418,374.85 $ 194,937.13 \r\n \r\n$ \r\n \r\n8,622.00 $ \r\n \r\n4,822.29 $ \r\n \r\n33,176.37 $ \r\n \r\n2,498.84 $ \r\n \r\n2,887.38 \r\n \r\n718,889.62 \r\n \r\nn1,948.a2 \r\n \r\n29,049.69 \r\n \r\n22,099.95 \r\n \r\n$ \r\n \r\n8,622.00 $ \r\n \r\n4,822.29 $ \r\n \r\n33,176.37 $ \r\n \r\n2,498.84 $ \r\n \r\n2,887.38 $ 1,166,314.16 $ 988,985.90 \r\n \r\n$ \r\n \r\n6,931.90 \r\n \r\n$ \r\n \r\n12,637.33 \r\n \r\n$ \r\n \r\n2,828.03 $ 558,354.31 $ 437,534.79 \r\n \r\n$ . 24.18 \r\n \r\n4,822.29 \r\n \r\n3,616.51 $ 16,963.21 \r\n60.68 \r\n \r\n2,498.84 \r\n \r\n126.63 \r\n \r\n45,908.72 29,135.11 \r\n4,639.70 61,152.13 \r\n3,000.00 2,602.44 1,189.98 1,472.44 45,290.52 370,635.88 6,011.06 \r\n \r\n16,572.83 24,381.01 29,903.38 63,114.34 \r\n23,224.00 13,586.00 88,248.72 348,123.48 \r\n \r\n1,399.37 266.55 \r\n \r\n15,345.71 2,922.99 \r\n \r\n31,190.40 368.70 \r\n \r\n$ \r\n \r\n8,622.00 $ \r\n \r\n4,822.29 $ \r\n \r\ns 33,2n.13 \r\n \r\n2,498.84 $ \r\n \r\n2,954.66 $ 1,147,660.99 $ 1,076,247.85 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n-101.36 $ \r\n \r\n0.00 $ \r\n \r\n-67.28 $ \r\n \r\n18,653.17 $ \r\n \r\n-87,261.75 \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$ $ 0.00 $ 0.00 \r\n0.00 $ \r\n \r\n101.36 101.36 \r\n0.00 $ 0.00 \r\n0.00 $ \r\n \r\n$ \r\n \r\n85,654.40 \r\n \r\n$ \r\n \r\n67.28 $ \r\n \r\n713.94 \r\n \r\n165.05 \r\n \r\n$ \r\n \r\n67.28 $ \r\n \r\n713.94 $ \r\n \r\n85,819.45 \r\n \r\n0.00 $ 0.00 \r\n \r\n0.00 $ 0.00 \r\n \r\n19,367.11 $ 76,756.23 \r\n \r\n-1,442.30 81,428.46 \r\n \r\n-784.22 -1,019.70 \r\n \r\n-2,239.15 -990.78 \r\n \r\n----- --------- 0.00 $ \r\n \r\n0.00 $ \r\n \r\n94,319.42 $ \r\n \r\n76,756.23 \r\n \r\n- 21 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\nSCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nYEAR ENDED JUNE 30, 1995 \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 Education Food and Nutrition Program Food Services School Breakfast Program 1995 Grant National School Lunch Program 1994 Grant 1995 Grant Food Distribution Program (1) \r\n \r\n10.553 $ 75,162.28 $ \r\n \r\n10.555 10.555 10.550 \r\n \r\n240,189.83 19,489.61 \r\n \r\n75,162.28 $ 75,162.28 \r\n \r\n2,289.39 231,241.57 N/A \r\n \r\n240,189.83 $ 19,489.61 \r\n \r\n(2) \r\n348,644.35 (3) 19,489.61 \r\n \r\nTotal U: S. Department of Agriculture \r\n \r\n$ 334,841.72 $ \r\n \r\n308,693.24 $ 334,841.72 $ \r\n \r\n368,133.96 \r\n \r\nEducation, U.S. Department of \r\n \r\nThrough Georgia Department of Education \r\n \r\nElementary and Secondary Education Act \r\n \r\nChapter 1 \r\n \r\nEducation of Deprived Children \r\n \r\n1994 Regular \r\n \r\n* 84.010 \r\n \r\n1994 Carry-Over \r\n \r\n* 84.010 $ \r\n \r\n1995 Regular \r\n \r\n* 84.010 \r\n \r\nChapter2 \r\n \r\nBlock Grant - Flow Through \r\n \r\n1995 Regular \r\n \r\n84.151 \r\n \r\nTitle II \r\n \r\nEisenhower Mathematics and Science \r\n \r\nEducation \r\n \r\n1994 Regular \r\n \r\n84.164 \r\n \r\n1995 Regular \r\n \r\n84.164 \r\n \r\nIndividuals with Disabilities Education Act \r\n \r\nTitle VI, B \r\n \r\nFlow Through \r\n \r\n1994 Regular \r\n \r\n84.027 \r\n \r\n1994 Carry-Over \r\n \r\n84.027 \r\n \r\n1995 Regular \r\n \r\n84.027 \r\n \r\nPreschool Program \r\n \r\n1994 Regular \r\n \r\n84.173 \r\n \r\n1994 Carry-Over \r\n \r\n84.173 \r\n \r\n1995 Regular \r\n \r\n84.173 \r\n \r\nVocational Education - Basic Grants to States \r\n \r\nHigh School Program \r\n \r\nBasic Grant \r\n \r\n1994 Grant \r\n \r\n84.048 \r\n \r\n1995 Grant \r\n \r\n84.048 \r\n \r\n$ 5,002.00 352,035.00 8,622.00 \r\n9,950.00 \r\n8,n3.oo 29,070.00 \r\n2,607.00 2,800.00 \r\n32,044.00 \r\n \r\n71,433.27 5,002.00 $ 268,405.17 \r\n \r\n5,002.00 $ 327,039.02 \r\n \r\n5,003.00 (3) 327,111.19 (3) \r\n \r\n8,622.00 \r\n \r\n8,622.00 \r\n \r\n8,622.00 \r\n \r\n2,345.93 4,816.12 \r\n \r\n4,822.29 \r\n \r\n4,822.29 \r\n \r\n-407.59 8,142.00 23,034.00 \r\n-107.89 2,607.00 \r\n \r\n8,n3.oo 24,403.37 \r\n2,498.84 \r\n \r\n8,799.03 (3) 24,478.70 (3) \r\n2,498.84 \r\n \r\n1,070.00 \r\n \r\n31,675.00 \r\n \r\n32,044.00 \r\n \r\n(4) \r\n \r\nTotal U.S. Department of Education \r\n \r\n$ 450,903.00 $ \r\n \r\n426,637.01 $ 413,204.52 $ \r\n \r\n381,335.05 \r\n \r\nFederal Emergency Management Agency Through Office of the Governor Disaster Assistance \r\n \r\n83.516 $ 14174.80 $ \r\n \r\n14,174.80 $ 14174.80 \r\n \r\n(4) \r\n \r\n- 22 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nYEAR ENDED JUNE 30 1995 \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\nLabor, U. S. Department of Through Columbus, Georgia Consolidated Government Job Training Partnership Act Contract No. 93087 \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\n17.250 $ \r\n \r\n4,682.00 $ \r\n \r\n4 661.16 $ \r\n \r\n2,887.38 $ \r\n \r\n2,954.66 (3) \r\n \r\nTotal Federal Financial Assistance \r\n \r\n$ 8041601 .52 $ \r\n \r\n754 166.21 $ 76511os.42 $_ _1_52_.i4_23_.61_ \r\n \r\nThe Major Program is identified by an asterisk (\") in front of the CFDA number. \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 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 fund source. \r\n(4) Expenditures on this program were not maintained by fund source. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 23 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30, 1995 \r\nINTEREST BEARING ACCOUNTS \r\nFarmers State Bank, Lumpkin, Georgia \r\nN.O.W. Accounts (2.25%) \r\n \r\nSCHEDULE \"2\" $ 684,851.86 \r\n \r\nSee notes to the general purpose financial statements. - 24 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30, 1995 \r\n \r\nSCHEDULE \"3\" \r\n \r\nDavis, David J. Recovery of Prior Year Questioned Cost Salary Overpayment \r\nEducation, Georgia Department of Food Services National School Lunch Program Vocational Education Federal Funds Lottery Program Technology Installation Federal Programs ESEA - Chapter 1 Education of Deprived Children ESEA - Title II Eisenhower Mathematics and Science Education Individuals with Disabilities Education Act Title VI, B - Flow Through \r\nProfessional Women's League Contracted Meals \r\nStewart-Quitman High School Recovery of Prior Year Questioned Cost Improper Expenditure \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\n660.74 \r\n \r\n$ \r\n \r\n660.74 \r\n \r\n$ 369.00 \r\n \r\n8,948.26 \r\n1,602.78 58,669.03 \r\n6.17 2,356.00 6,867.18 \r\n \r\n-8,948.26 369.00 \r\n1,602.78 \r\n58,669.03 \r\n6.17 2,356.00 \r\n6,867.18 \r\n \r\n1,600.00 \r\n \r\n1,600.00 \r\n \r\n$ \r\n \r\n2,629.74 $ \r\n \r\n78,449.42 $ ===81=,0=7=9=.1=6 \r\n \r\nSee notes to the general purpose financial statements. - 25 - \r\n \r\n STEWART 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 Special Instructional Assistance In-School Suspension School Counselors Grades 4 and 5 Superintendent Base Salary Mid-term Adjustment Local Fair Share Educational Equalization Funding Grant Food Services other State Programs At-Risk Summer School Program Governor's Emergency Funds (1) Mentor Teacher Program Preschool Handicapped Program Remedial Summer School Program Teachers' Retirement Lottery Programs Algebra Classrooms Distant Learning Instructional Technology Media Center and Library Equipment Model Technology Schools Pre-Kindergarten Program Safe Schools Grant Technology Installation \r\nOTHER Education, Georgia Department of Student lnformationsystem Project \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$ 1,524,110.00 351,013.00 39,114.00 65,085.00 21,572.00 455,761.00 \r\n179,225.00 56,737.00 \r\n105,027.00 46,578.00 70,602.00 72,330.00 19,971.00 21,346.00 12,718.00 \r\n-346,900.00 132,172.00 \r\n$ \r\n4,454.00 1,524.20 4,140.00 \r\n3,426.91 4,340.78 \r\n \r\n$ 1,524,110.00 351,013.00 39,114.00 65,085.00 21,572.00 455,761.00 \r\n \r\n23,378.00 \r\n \r\n179,225.00 56,737.00 \r\n105,027.00 46,578.00 70,602.00 72,330.00 19,971.00 21,346.00 12,718.00 \r\n-346,900.00 132,172.00 \r\n23,378.00 \r\n \r\n11,977.96 \r\n \r\n4,454.00 1,524.20 4,140.00 11,977.96 3,426.91 4,340.78 \r\n \r\n1,357.20 3,330.41 37,521.28 4,868.16 171,907.08 161,242.00 1,189.98 1,602.78 \r\n \r\n1,357.20 3,330.41 37,521.28 4,868.16 171,907.08 161,242.00 1,189.98 1,602.78 \r\n \r\n1,000.00 \r\n \r\n1,000.00 \r\n \r\n$ 2,845,346.89 $ 418,374.85 $ 3,263,721.74 \r\n(1) Disaster Relief Funds See notes to the general purpose financial statements. \r\n- 26 - \r\n \r\n STEWART 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 Donations Indirect Cost Special Revenue Fund Insurance Recoveries Interest Earned Recovery of Prior Year Questioned Costs Improper Expenditure Salary Overpayment Reimbursements for Salaries and Benefits Chattahoochee - Flint Regional Educational Service Agency Georgia Southwestern College Muscogee County Board of Education University of Georgia Rents Sales Breakfast and Lunches School Assets Shared Service Contributions Webster County Board of Education 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$ 1,049,190.21 \r\n11,330.70 1,265.11 \r\n \r\n$ 1,049,190.21 \r\n11,330.70 1,265.11 \r\n \r\n5,579.78 2,316.75 \r\n5,401.00 9,546.86 \r\n15,900.30 $ \r\n1,600.00 1,982.20 \r\n \r\n1,246.35 $ \r\n \r\n158.92 \r\n \r\n5,579.78 2,316.75 \r\n5,401.00 9,546.86 17,305.57 \r\n1,600.00 1,982.20 \r\n \r\n352.00 50.00 \r\n2,035.56 309.40 \r\n4,200.00 \r\n \r\n27,793.08 \r\n \r\n8,639.18 126,451.49 \r\n531.06 \r\n \r\n10.26 \r\n \r\n8,750.00 \r\n \r\n352.00 50.00 \r\n2,035.56 309.40 \r\n4,200.00 \r\n27,793.08 8,750.00 \r\n8,639.18 126,451.49 \r\n541.32 \r\n \r\n$ 1,246,681.60 $ 29,049.69 $ 8,908.92 $ 1,284,640.21 \r\n \r\nSee notes to the general purpose financial statements. - 27 - \r\n \r\n  STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT GENERAL ANO SPECIAL REVENUE FUNDS \r\nYEAR 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 and Travel 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 Federal Indirect Costs Other Expenditures \r\nNonoperating Costs Principal and Interest Land and Land Improvements Equipment \r\nTotal Expenditures \r\n \r\nGENERAL \r\nFUND \r\n \r\nSPECIAL \r\nREVENUE \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 2,776,729.47 $ \r\n586,350.02 22,069.95 7,576.86 5,973.76 16,693.72 72,809.80 2,296.07 36,745.08 13,150.13 \r\n14,263.00 \r\n102,457.49 97,942.46 \r\n36,573.90 22,407.20 \r\n8,870.09 \r\n \r\n487,811.50 $ \r\n110,484.18 13,217.44 2,954.27 \r\n3,232.27 8,962.15 \r\n1,000.00 -1,086.68 1,273.30 3,548.00 1,300.00 59,236.37 13,701.52 181,699.14 2,439.23 1,352.00 5,401.00 8,069.47 \r\n \r\n3,264,540.97 696,834.20 35,287.39 10,531.13 5,973.76 19,925.99 81,771.95 2,296.07 37,745.08 14,236.81 1,273.30 17,811.00 1,300.00 161,693.86 111,643.98 181,699.14 39,013.13 23,759.20 5,401.00 16,939.56 \r\n \r\n50,228.58 78,447.24 \r\n \r\n18,268.70 6,011.06 \r\n216,612.71 \r\n \r\n68,497.28 6,011.06 \r\n295,059.95 \r\n \r\n$ 3,951,584.82 $ 1,14-7,660.99 $ 5,099,245.81 \r\n \r\nSee notes to the general purpose financial statements. - 29 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \r\nLOTTERY PROGRAMS YEAR ENDED JUNE 30, 1995 \r\n \r\nEXPENDITURES \r\nOperating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Insurance Communications other Purchased Services Supplies Food Usage Books, Textbooks and Periodicals Dues and Fees other Expenditures \r\nNonoperating Costs Principal and Interest Land and Land Improvements Equipment \r\nTotal Expenditures \r\n \r\nALGEBRA CLASSROOMS \r\n \r\nDISTANT LEARNING \r\n \r\nINSTRUCTIONAL TECHNOLOGY \r\n \r\n$ \r\n \r\n1,410.58 $ \r\n \r\n1,465.10 $ \r\n \r\n56.98 \r\n \r\n2,253.73 \r\n \r\n15,000.00 221464.30 \r\n \r\n$ \r\n \r\n1,410.58 $ \r\n \r\n3,718.83 $ -=--3=7...,,5=2-1.=28= \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 30 - \r\n \r\n SCHEDULE \"T' \r\n \r\nMEDIA CENTER AND \r\nLIBRARY EQUIPMENT \r\n \r\nMODEL TECHNOLOGY \r\nSCHOOLS \r\n \r\nPRE-KINDERGARTEN PROGRAM \r\n \r\nSAFE SCHOOLS \r\nGRANT \r\n \r\nTECHNOLOGY INSTALLATION \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n$ \r\n \r\n3,295.70 $ \r\n \r\n2,921.50 \r\n \r\n1 344.00 \r\n \r\n168,985.58 \r\n \r\n$ \r\n \r\n4,639.70 $ 171,907.08 $ \r\n \r\n85,501.19 18,433.15 \r\n8,845.86 600.00 \r\n1,000.00 723.73 \r\n1,300.00 23,069.96 \r\n2,501.92 2,439.23 \r\n988.00 2,991.03 \r\n6,011.06 6 864.00 $ \r\n \r\n$ 1,189.98 \r\n \r\n$ \r\n \r\n85,501.19 \r\n \r\n18,433.15 \r\n \r\n8,845.86 \r\n \r\n600.00 \r\n \r\n1,000.00 \r\n \r\n723.73 \r\n \r\n1,300.00 \r\n \r\n32,219.82 \r\n \r\n2,501.92 \r\n \r\n2,439.23 \r\n \r\n988.00 \r\n \r\n2,991.03 \r\n \r\n1,602.78 \r\n \r\n16,602.78 6,011.06 2031101.59 \r\n \r\n161,269.13 $ \r\n \r\n1,189.98 $ \r\n \r\n1,602.78 $ 383,259.36 \r\n \r\n- 31 - \r\n \r\n  STEWART 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$ 1,992,040.00 $ \r\n \r\n67,132.00 \r\n \r\n$ 1,972,999.07 95,848.75 $ _ _ _8;_1..._,3;..;;6_7=.2-'--0 \r\n$ 2,068,847.82 \r\n \r\n-11,470.90 $ 2,057,376.92 \r\n \r\n$ \r\n \r\no.oo $ ========o=.o=o \r\n \r\nSee notes to the general purpose financial statements. - 33 - \r\n \r\n STEWART COUNTY BOARD Of EDUCATION ANALYIS Of MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \r\nGENERAL FUND- OUAUJY BASIC EDUCATION PROGRAMS \r\nYEAR ENDED JUNE 30. 1995 \r\n \r\nGENERAL ~D QAREER EDUCAI!QN PROGRAMS Kindergarten (\") Grades 1-3(\") Sub-Total - K-3 Grades4-5(\") Grades6-8 (\") Grades 9 - 12 (\") High School Laboratories (\") Vocational Education Laboratories (\") Total General and Career Education Programs \r\nSPECIAL EDUCATION PROGRAMS Regular Programs Category((\") Category II(\") Category Ill(\") Sub-Total - Regular Category V (Gifted) (\") Total Special Education Programs \r\nREMEDIAL EQ!.!CATION PROGRAM{*) Total Thirteen Weighted Programs \r\nMEDIA CENTER PROGRAMS Salaries Operations Total Media Center Programs \r\nTotal Thirteen Weighted and Media Center Programs \r\n \r\nALLOTMENTS FROM DEPARTMENT OF EDUCATION \r\n \r\nREQUIRED \r\n \r\nORIGINAL \r\n \r\n'II, \r\n \r\nORIGINAL \r\n \r\nMIO-TERM \r\n \r\n$ \r\n \r\n136,817.00 \r\n \r\n$ \r\n \r\n123,135.30 $ \r\n \r\n328,760.00 \r\n \r\n295,884.00 \r\n \r\n$ \r\n \r\n'4651i77.00 90 $ \r\n \r\n419,019.30 $ \r\n \r\n202,676.00 90 \r\n \r\n182,408.40 \r\n \r\n355,545.00 90 \r\n \r\n319,990.50 \r\n \r\n252,928.00 90 \r\n \r\n227,635.20 \r\n \r\n102,258.00 90 \r\n \r\n92,032.20 \r\n \r\n145,126.00 90 \r\n \r\n130,613.40 \r\n \r\n$ 1,524,110.00 \r\n \r\n$ 1,371,699.00 $ \r\n \r\n0.00 0.00 0.00 0.00 \r\n \r\n$ \r\n \r\n326,295.00 \r\n \r\n$ \r\n \r\n293,665.50 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n326,295.00 90 $ \r\n \r\n293,665.50 $ \r\n \r\n24,718.00 90 \r\n \r\n22,246.20 \r\n \r\n$ \r\n \r\n351,013.00 \r\n \r\n$ \r\n \r\n315,911.70 $ \r\n \r\n$ \r\n \r\n39,114.00 90 $ \r\n \r\n35,202.60 $ \r\n \r\n$ 1,914,237.00 \r\n \r\n$ 1,722,813.30 $ \r\n \r\n0.00 3,762.00 3,762.00 8,956.00 12,718.00 \r\n \r\n$ \r\n \r\n51,231.00 90 $ \r\n \r\n46,107.90 $ \r\n \r\n0.00 \r\n \r\n13,854.00 90 \r\n \r\n12,468.60 \r\n \r\n$ \r\n \r\n65,085.00 \r\n \r\n$ \r\n \r\n58,576.50 $ \r\n \r\n0.00 \r\n \r\n$ 1,979,322.00 \r\n \r\n$ 1,781,389.80 $ \r\n \r\n12,718.00 \r\n \r\nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \r\nTotal Staff Development (\") Identifies Thirteen Weighted Programs. See notes to the general purpose financial statements. \r\n \r\n$ \r\n \r\n5,071.00 \r\n \r\n$ \r\n \r\n5,071.00 $ \r\n \r\n0.00 \r\n \r\n16,501.00 \r\n \r\n16,501.00 \r\n \r\n$ \r\n \r\n21,572.00 100 $ \r\n \r\ns _ _ _ _ _ 21.s12.oo \r\n \r\no._oo.., \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\nAMOUNTOF UNDEREXPENDITURE \r\nFOR REQUIRED ALLOTMENT \r\n \r\n$ \r\n \r\n123,135.30 $ \r\n \r\n126,352.10 $ \r\n \r\n2,879.26 $ \r\n \r\n129,231.36 \r\n \r\n295,884.00 \r\n \r\n352,550.77 \r\n \r\n8,781.87 \r\n \r\n361,332.64 \r\n \r\n$ \r\n \r\n419,019.30 $ \r\n \r\n478,902.87 $ \r\n \r\n11,661.13 $ \r\n \r\n490,564.00 $ \r\n \r\n0.00 \r\n \r\n182,408.40 \r\n \r\n202,044.35 \r\n \r\n5,300.08 \r\n \r\n207,344.43 \r\n \r\n0.00 \r\n \r\n319,990.50 \r\n \r\n388,240.04 \r\n \r\n8,977.10 \r\n \r\n397,217.14 \r\n \r\n0.00 \r\n \r\n227,635.20 \r\n \r\n222,780.14 \r\n \r\n16,385.79 \r\n \r\n239,165.93 \r\n \r\n0.00 \r\n \r\n92,032.20 \r\n \r\n90,262.89 \r\n \r\n3,605.45 \r\n \r\n93,868.34 \r\n \r\n0.00 \r\n \r\n130,613.40 \r\n \r\n114,830.81 \r\n \r\n27,402.77 \r\n \r\n142,233.58 \r\n \r\n0.00 \r\n \r\n$ 1,371,699.00 $ 1,497,061.10 $ \r\n \r\n73,332.32 $ 1,570,393.42 \r\n \r\n$ \r\n \r\n293,665.50 \r\n \r\n$ \r\n \r\n52,851.62 $ 119,338.80 133,591.81 \r\n \r\n766.08 $ 5,223.63 \r\n720.00 \r\n \r\n53,617.70 124,562.43 134,311.81 \r\n \r\n$ \r\n \r\n293,665.50 $ \r\n \r\n305,782.23 $ \r\n \r\n6,709.71 $ \r\n \r\n312,491.94 \r\n \r\n0.00 \r\n \r\n26,008.20 \r\n \r\n40,217.99 \r\n \r\n939.26 \r\n \r\n41,157.25 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n319,673.70 $ \r\n \r\n346,000.22 $ \r\n \r\n7,648.97 $ \r\n \r\n353,649.19 \r\n \r\n$ \r\n \r\n44,158.60 $ \r\n \r\n67,863.40 $ \r\n \r\n385.91 $ \r\n \r\n68,249.31 \r\n \r\n0.00 \r\n \r\n$ 1,735,531.30 $ \r\n \r\n1,910,924.72 $ \r\n \r\n81,367.20 $ 1,992,291.92 \r\n \r\n$ \r\n \r\n46,107.90 $ \r\n \r\n62,074.35 \r\n \r\n$ \r\n \r\n62,074.35 \r\n \r\n0.00 \r\n \r\n12,468.60 \r\n \r\n$ \r\n \r\n14,481.55 \r\n \r\n14,481.55 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n58,576.50 $ \r\n \r\n62,074.35 $ \r\n \r\n14,481.55 $ \r\n \r\n76,555.90 \r\n \r\n$ 1,794,107.80 $ \r\n \r\n1,972,999.07 $ \r\n \r\n95,848.75 $ 2,068,847.82 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n5,071.00 \r\n \r\n16,501.00 \r\n \r\ns ===2.1.s.=1=2=.oo= \r\n \r\n$ \r\n \r\n13,526.96 $ \r\n \r\n13,526.96 \r\n \r\n8,056.37 \r\n \r\n8,056.37 \r\n \r\n$ \r\n \r\n21,583.33 $ \r\n \r\n21,583.33 $ ======0.=00= \r\n \r\n- 35 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\nSCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS YEAR ENDED JUNE 30, 1995 \r\n \r\nSCHEDULE 10\" \r\n \r\nBOARD MEMBER ADDRESS \r\nSTEWART COUNTY BOARD MEMBERS \r\nMr. Eugene Baldwin, Chairman(*) \r\nP. 0. Box757 \r\nLumpkin, Georgia 31815 \r\nMs. Joan Flowers (*) Route 1, Box ~B Lumpkin, Georgia 31815 \r\nMs. Janice French(*) 785 Wall Street Richland, Georgia 31825 \r\nMr. Bill Lee (*) \r\nP. 0. Box22 Omaha, Georgia 31821 \r\nMr. David White (*) General Delivery Louvale, Georgia 31814 \r\nQUITMAN COUNTY BOARD MEMBERS \r\nMr. Willie Anderson (*) Route 2, Box 74 Georgetown, Georgia 31754 \r\nMr. Willie Bussey(*) Route 1, Box 32 Morris, Georgia 31767 \r\nMr. Loyd Lewis (*) Route 2, Box 236 Georgetown, Georgia 31754 \r\nMr. George McCarthy(*) Route 2, Box 64 Georgetown, Georgia 31754 \r\nMr. C. P. Redding P. 0. Box336 Georgetown, Georgia 31754 \r\nMr. Bobby Willis (*) Route 1, Box 38 Georgetown, Georgia 31754 \r\nStewart and Quitman Counties operate a consolidated high school located in Stewart County. Members of the Quitman County Board of Education are paid per diem for each meeting of the Stewart County Board of Education they attend. \r\n(*) Denotes Board Members Serving as of June 30, 1995 \r\nSee notes to the general purpose financial statements. \r\n- 36 - \r\n \r\nCOMPENSATION \r\n \r\nTRAVEL \r\n \r\n$ \r\n \r\n1,150.00 $ \r\n \r\n1,000.00 \r\n \r\n950.00 \r\n \r\n700.00 \r\n \r\n950.00 \r\n \r\n649.19 89.71 17.22 17.64 \r\n \r\n200.00 \r\n \r\n100.00 \r\n \r\n100.00 \r\n \r\n50.00 \r\n \r\n$ \r\n \r\n5,200.00 $ -====7=73=.7=6 \r\n \r\n SECTION II COMPLIANCE \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUOllOR \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 23, 1996 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Stewart 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 ofthe Stewart County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated April 23, 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 Stewart County Board ofEducation 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 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\nCLV:gp 95CRL-10 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDllOR \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 23, 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 Stewart 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 Stewart County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated April 23, 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 Stewart 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, 1995: \r\n \r\n(I) 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 ofan opinion on the Stewart County Board of Education's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. \r\n \r\n95CRL-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 tested, nothing came to our attention that caused us to believe that the Stewart County Board ofEducation had not complied, in all material respects, with those requirements. However, the results of our procedures disclosed immaterial instances ofnoncompliance with those requirements, which are 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 95CRL-50 \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDllOR \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 23, 1996 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Stewart County Board ofEducation \r\n \r\nSINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\n \r\nLadies and Gentlemen: \r\n \r\nWe have audited the general purpose financial statements ofthe Stewart County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated April 23, 1996. This report was qualified for various departures frqm generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\n \r\nWe have also audited the Stewart County Board ofEducation's compliance with the requirements governing: \r\n \r\n(1) Types of Services Allowed or Unallowed \r\n \r\n(5) Applicable Special Tests and Provisions \r\n \r\n(2) Eligibility \r\n(3) Matching, Level of Effort, and/or Earmarking \r\n \r\n(6) Other Requirement Claims for Advances and Reimbursements \r\n \r\n(4) Reporting \r\n \r\nThese requirements are applicable to the major Federal financial assistance program, which is identified in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1995. The management of the Stewart County Board of Education is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit. \r\n \r\n95CRL-80 \r\n \r\n We conducted our audit ofcompliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General ofthe United States; and Office ofManagement and Budget (0MB) Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Board's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion. \r\n \r\nIn our opinion, the Stewart County Board of Education complied, in all material respects, with the \r\n \r\nrequirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance \r\n \r\nprogram for the year ended June 30, 1995. \r\n \r\n \r\n \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other \r\n \r\nFederal grantor agencies. This restriction is not intended to limit the distribution of this report which is a \r\n \r\nmatter of public record. \r\n \r\n \r\n \r\nRespectfully submitted, \r\n~~ \r\nClaude L: Vickers State Auditor \r\n \r\nCLV:gp 95CRL-80 \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\nApril 23, 1996 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Stewart 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 ofthe Stewart County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated April 23, 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 Stewart County Board ofEducation 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 governing: \r\n \r\n(1) Types of Services Allowed or Unallowed \r\n \r\n(2) Applicable Special Tests and Provisions \r\n \r\nOur procedures were substantially less in scope than an audit, the objective ofwhich is the expression of an opinion on the Stewart 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 came to our attention that caused us to believe that the Stewart 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\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:gp 95CRL-120 \r\n \r\n SECTION III INTERNAL CONTROL \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDllOR \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 23, 1996 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Stewart 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 ofthe Stewart County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated April 23, 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 ofthe United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. \r\nThe management of the Stewart County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives ofan 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 perfonning our audit ofthe general purpose financial statements ofthe Stewart County Board ofEducation for the year ended June 30, 1995, we obtained an understanding of the internal control structure. With respect to the internal control structure, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion. \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 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 the reportable conditions disclosed above are also considered to be material weaknesses. \r\n \r\nThese conditions were considered in determining the nature, timing, and extent of the procedures to be performed in our audit ofthe Stewart County Board ofEducation's financial statements and this report does not affect our report thereon dated April 23, 1996. \r\n \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal granter agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\n \r\nRespectfully submitted, \r\n \r\nCLV:gp 95ICL-3 \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\nApril 23, 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 Stewart 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 ofthe Stewart County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated April 23, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We have also audited the Stewart County Board of Education's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated April 23, 1996. \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 and about whether the Stewart County Board ofEducation complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program. \r\nIn planning and performing our audit for the year ended June 30, 1995, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinions on the Board's general purpose financial statements and on its compliance with requirements applicable to major Federal financial assistance programs and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration 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 April 23, 1996. \r\n95ICL-11 \r\n \r\n The management of the Stewart County Board ofEducation is responsible for establishing and maintaining \r\n \r\nan internal control structure. In fulfilling this responsibility, estimates and judgments by management are \r\n \r\nrequired to assess the expected benefits and related costs of internal control structure policies and procedures. \r\n \r\nThe objectives ofan internal control structure are to provide management with reasonable, but not absolute, \r\n \r\nassurance that, assets are safeguarded against loss from unauthorized use or disposition, that transactions are \r\n \r\nexecuted in accordance with management's authorization and recorded properly to permit the preparation of \r\n \r\ngeneral purpose financial statements in accordance with generally accepted accounting principles, and that \r\n \r\nFederal financial assistance programs are managed in compliance with applicable laws and regulations. Because \r\n \r\n. of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance \r\n \r\nmay nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future \r\n \r\nperiods is subject to the risk that procedures may become inadequate because of changes in conditions or that \r\n \r\nthe effectiveness ofthe design and operation ofpolicies and procedures may deteriorate. \r\n \r\n \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(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 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 of the 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, 1995, the Stewart County Board of Education expended 74% of its total Federal financial assistance under a major Federal financial assistance program and the following nonmajor Federal financial assistance program: \r\n \r\nFood and Nutrition Program Food Services National School Lunch Program \r\n \r\n95ICL-11 \r\n \r\n We perfonned tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements and specific requirements as described above that are applicable to the Board's major Federal financial assistance program, which is identified in the Schedule of Federal Financial Assistance, and the aforementioned nonmajor program. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. \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 ofCertified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the Board's ability to administer Federal financial assistance programs in accordance with applicable laws and regulations. \r\nAs described 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 condition was considered in determining the nature, timing, and extent of the procedures to be performed in our audit ofthe Stewart County Board ofEducation's compliance with requirements applicable to its major Federal financial assistance program for the year ended June 30, 1995, and this report does not affect our report thereon dated April 23, 1996. \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 of this report which is a matter of public record. \r\nRespectfully submitted, \r\n!%. ?/4 \r\nClaude L. Vickers State Auditor \r\nCLV:gp 95ICL-l l \r\n \r\n SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\n \r\n STEWART 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: $1,957.50 Audit Control Number 7281-93-04 \r\nThe audit report for the year ended June 30, 1993, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds ofSl,957.50 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$1,957.50 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 Improper Expenditure Financial Statements Finding Resolved Audit Control Number 7281-94-01 \r\nThe audit report for the year ended June 30, 1994, called attention to an improper expenditure of$1,600.00 by the Board for a senior class graduating trip. This matter had not been resolved at June 30, 1995. However, in the subsequent fiscal year, refund of $1,600.00 was secured and this amount is included in accounts receivable as shown on the Combined Balance Sheet, Exhibit \"A\" of this report. \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $4,205.41 Audit Control Number 7281-94-02 \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 $4,205.41 for the StaffDevelopment - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department of Education to refund this underexpenditure as required. The underexpenditure of$4,205.41 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 STEWART 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 Salary Overpayment Financial Statements Finding Resolved Audit Control Number 7281-94-03 \r\nThe audit report for the year ended June 30, 1994, reported an overpayment of $1,982.20 to an employee due to a salary advance. During the year under review, reimbursement of $1,321.46 was secured by the Board through payroll deductions. In the subsequent fiscal year, reimbursement ofthe remaining balance of $660. 74 was secured by the Board and this amount is included in accounts receivable as shown on the Combined Balance Sheet, Exhibit \"A\" of this report. \r\nAUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Finding Resolved Audit Control Number 7281-94-04 \r\nThe audit report for the year ended June 30, 1994, reported that the Board failed to submit a copy of the 1993 audit report on a timely basis to all agencies that provided Federal financial assistance to the Board. During the year under review, procedures were implemented by the Board to ensure that reports are submitted to grantor agencies in accordance with audit distribution requirements. \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 7281-93-02 \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 of accounting functions and related procedures. For the year under review, no improvement in adequate separation of employee duties was noted. This deficiency was a result of management's decision to limit the number of administrative staff made responsible for accounting functions. Management should periodically review this decision to determine if employee duties can be reassigned to achieve a higher degree of internal control with existing staff \r\nNote: All Federal financial assistance programs listed in the Schedule of Federal Financial Assistance, Schedule \"1\" of this report, are affected by this finding. \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE 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 7281-93-03 \r\nThe audit report for the year ended June 30, 1994, noted that the management of the Stewart County Board ofEducation had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. For 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 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\nCURRENT YEAR \r\nEXPENDITURES/LIABILITIES/DISBURSEMENTS Improper Lease Agreement Financial Statements Nonmaterial Noncompliance Audit Control Number 7281-95-0 I \r\nFor the year under review, the Board entered into a lease agreement which did not contain the required calendar year end escape clause. The Board's attention is directed to the Official Code of Georgia Annotated (OCGA) Section 20-2-506 which provides, in part as follows: \r\n(a) Except as otherwise provided in this Code section, each county, independent, or area school system in this State shall be authorized to enter into multiyear lease, purchase, or lease purchase contracts of all kinds for the acquisition of goods, materials, real and personal property, services, and supplies, provided that any such contract shall contain provisions for the following: \r\n( 1) The contract shall terminate absolutely and without further obligation on the part of the school , system at the close of the calendar year in which it was executed and at the close of each succeeding calendar year for which it may be renewed as provided in this Code section; \r\n(2) The contract may provide for automatic renewal unless positive action is taken by the school system to terminate such contract, and the nature of such action shall be determined by the school system and specified in the contract;... \". \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1995 \r\nCURRENT YEAR \r\nEXPENDITURES/LIABILITIES/DISBURSEMENTS Improper Lease Agreement Financial Statements Nonmaterial Noncompliance Audit Control Number 7281-95-01 \r\nThis noncompliance occurred because management claimed not to be aware of the provisions of OCGA Section 20-2-506. The Board should amend this lease agreement to include provisions as required by State law and should institute procedures to ensure that all future lease or lease-purchasing agreements contain the required calendar year escape provisions. \r\nEXPENDITURES/LIABILITIES/DISBURSEMENTS Unearned Lottery Funds Financial Statements Nonmaterial Noncompliance Amount: $228.46 Audit Control Number 7281-95-02 \r\nFor the year under review, the Board received $228.46 in Media Center and Library Equipment Lottery funds in excess of the amount needed to cover program expenditures. This lottery fund balance was the result of the Board drawing funds in excess of actual expenditures. Accordingly, the Board should refund unearned lottery funds in the amount of $228.46 to the Georgia Department of Education. \r\nGENERAL LEDGER Failure to File Completion Report Financial Statements Nonmaterial Noncompliance Audit Control Number 7281-95-03 \r\nFor the year under review, an examination ofthe Board's compliance with regulations for the Lottery Program '\" Pre-Kindergarten Program, revealed that the Board failed to file a final completion report for this program as required by guidelines established by the Georgia Department of Education. This deficiency occurred because management neglected the specific limitations imposed upon the Board by the Georgia Department ofEducation. Appropriate procedures should be implemented by the Board to ensure that completion reports are submitted by the required date. In addition, the Board should submit the final Lottery Program Completion Report to the Georgia Department ofEducation. \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1995 \r\nCURRENT YEAR \r\nFEDERAL FINANCIAL REPORTS Expired Grant Balance/Questioned Cost Federal Financial Assistance Nonmaterial Noncompliance Amount $3 .20 Audit Control Number 7281-95-04 \r\nThe project completion report submitted by the Board for the Elementary and Secondary Education Act Chapter 1 Program (CFDA 84.010), 1995 project included expenditures of$3.20 which were not liquidated in the 90 days following the end of the grant award period, as required by the Georgia Department of Education. An audit adjustment reducing expenditures by $3.20 is included in the financial statements of this report. The resulting unexpended grant balance of $3 .20 should be refunded to the Georgia Department of Education. \r\nADMINISTRATIVE REQUIREMENTS Inadequate Accounting Records Federal Financial Assistance Nonmaterial Noncompliance Audit Control Number 7281-95-05 \r\nThe accounting records of the Individuals with Disabilities Education Act - Title VI, B - Flow Through Program (CFDA 84.027) were not maintained on an individual project basis. Requirements of34 CFR 80.20 mandate that accounting records be adequately segregated to ensure identification of revenues and expenditures by specific project. \r\nThis condition occurred because management disregarded provisions of 0MB Common Rule - Uniform Administrative Requirements for Grants and Cooperative Agreements to State and Local Governments 20 (8)(2). Although, total expenditures on the accounting records did agree with total expenditures reported on all project completion reports, accounting records should be adequately segregated to ensure identification ofrevenues and expenditures on a project-by-project basis as required. For reporting purposes, extensive audit work was necessary to separate revenues and expenditures for this program as reflected on the Schedule of Federal Financial Assistance, Schedule \"I\" of this report. \r\n \r\n SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\n \r\n STEWART COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\nYEAR ENDED JUNE 30, 1995 \r\nACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation ofDuties Reportable Condition - Material Weakness Audit Control Number 7281-93-02 \r\nWe concur with this finding. On May 15, 1996, the Board hired additional staff required to clear this finding. \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 7281-93-03 \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\nEXPENDITURES/LIABILITIES/DISBURSEMENTS Improper Lease Agreement Financial Statements Nonmaterial Noncompliance Audit Control Number 7281-95-01 \r\nWe concur with this finding. This finding will be resolved by amending this lease agreement to include provisions as required by State law and ensure that future lease or lease purchasing agreements contain the required escape provisions. \r\nEXPENDITURES/LIABILITIES/DISBURSEMENTS Unearned Lottery Funds Financial Statements Nonmaterial Noncompliance Amount: $228.46 Audit Control Number 7281-95-02 \r\nWe concur with this finding. This finding will be resolved by refunding unearned lottery funds in the amount of$228.46 to the Georgia Department ofEducation. \r\n \r\n STEWART COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\nYEAR ENDED JUNE 30, 1995 \r\nGENERAL LEDGER Failure to File Completion Report Financial Statements Nonmaterial Noncompliance Audit Control Number 7281-95-03 \r\nWe concur with this finding. This finding will be resolved by submitting the final Lottery Program Completion Report to the Georgia Department ofEducation. \r\nFEDERAL FINANCIAL REPORTS Expired Grant Balance/Questioned Cost Federal Financial Assistance Nonmaterial Noncompliance Amount $3 .20 Audit Control Number 7281-95-04 \r\nWe concur with this finding. This finding will be resolved by refunding the amount of $3 .20 to the Georgia Department ofEducation. \r\nNote: The Stewart County Board of Education has elected not to provide comments for inclusion in this report other than the above. \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bs84-b1993-h94","title":"Audit report, Stewart County Board of Education, Lumpkin, Georgia, year ended June 30, 1994","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Stewart County, 32.07846, -84.8352"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1994-06-30"],"dcterms_description":["Fiscal year ended June 30, 2000-","Ceased with: Fiscal year ended June 30, 2008.","Title from cover.","Report year covers fiscal year.","Has supplements: Stewart County Board of Education, Lumpkin, Georgia, schedule of salaries and travel for the fiscal year ended ..., fiscal year ended June 30, 2000-fiscal year ended June 30, 2002; Report on salary and travel for the fiscal year ended ... (Stewart County Board of Education, Ga.), fiscal year ended June 30, 2003-fiscal year ended June 30, 2007; Salaries and travel reimbursement (Stewart County Board of Education, Ga.), fiscal year ended June 30, 2008.","Fiscal year ended June 30, 2008, released in 2009? (online surrogate); (Georgia Government Publications database, viewed July 7, 2023)."],"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":["Stewart County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Stewart County--Auditing--Periodicals.","Education--Georgia--Stewart County--Finance--Statistics--Periodicals.","Education--Auditing","Education--Finance","Expenditures, Public","Georgia--Stewart County--fast","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Stewart County Board of Education, Lumpkin, 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-bs84-b1993-h94"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bs84-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":["Education--Auditing--fast","Education--Finance--fast","Expenditures, Public--fast","Georgia--Stewart County--fast","Periodicals--fast","Statistics--fast"],"fulltext":"1:JA \r\nP,800 \r\n.Rl \r\ne-:2-G $81t i99'3-9~ \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS \r\n254 WASHINGTON STREET ATLANTA, GEORGIA 30334 \r\n \r\n AUDIT REPORT STEWART COUNTY BOARD OF EDUCATION \r\nLUMPKIN, GEORGIA YEAR ENDED JUNE 30, 1994 \r\n \r\n STEWART 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\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\nGOVERNMENTAL FUND TYPES \r\n \r\n3 \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\n4 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n5 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING STATEMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nE \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n16 \r\n \r\nF \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n18 \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 AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\n21 \r\n \r\nSCHEDULES \r\n \r\n1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\n22 \r\n \r\n2 ANALYSIS OF CASH AND CASH EQUIVALENTS \r\n \r\n24 \r\n \r\n3 ACCOUNTS RECEIVABLE \r\n \r\n25 \r\n \r\nSCHEDULE OF REVENUE \r\n \r\n4 \r\n \r\nSTATE FUNDS \r\n \r\n26 \r\n \r\n5 \r\n \r\nLOCAL AND OTHER FUNDS \r\n \r\n27 \r\n \r\n STEWART 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\n33 \r\n \r\n9 \r\n \r\nBYPROGRAM \r\n \r\n34 \r\n \r\n10 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \r\n \r\n36 \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 OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR 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 ID \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 STEWART 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 17, 1995 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Stewart 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) ofthe Stewart 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 \r\n94ARL-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, 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 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, 1993, were improperly recorded in the year ended June 30, 1994. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \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 ofthe matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Stewart 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\nOur audit was conducted for the purpose offorming an opinion on the general purpose financial statements ofthe Stewart County Board ofEducation taken as a whole. The combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through IO which includes the Schedule of Federal Financial Assistance) are presented for purposes ofadditional analysis and are not a required part ofthe general purpose financial statements ofthe Stewart 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 ofthis report has been filed as a permanent 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\nClaude L. Vickers State Auditor \r\nCLV:gp 94ARL-13 \r\n \r\n STEWART COUNTY BOARD OF EDUCATION - 1- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET \r\nAll FUND TYPES AND ACCOUNT GROUP JUNE 30, 1994 \r\n \r\nEXHIBIT \"A\" \r\n \r\nASSETS \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nACCOUNT GROUP \r\n \r\nTOTALS \r\n \r\nGENERAL \r\n \r\n(Memorand1111 Only) \r\n \r\nLONG-TERM DEBT \r\n \r\nJ-U-N-E--3--0-, --1-9-9-4---JU-N-E---3-0-,--1-9-9-3 \r\n \r\nCash and Cash Equivalents Accounts Receivable Inventories \r\nFood Donated Cannodities Purchased Food \r\nAmount to be Provided in Future Years For Pa~t of Capital Lease Agreements \r\n \r\n$ 305,688.63$ 69,158.02 \r\n \r\n80,437.17$ 77,917.74 \r\n6,540.47 3,141.37 \r\n \r\n2,727.90 \r\n \r\n$ 388,853.70$ 484,521.45 147,075.76 113,110.62 \r\n \r\n6,540.47 3,141.37 \r\n \r\n8,779.62 4,132.15 \r\n \r\n$ 134,569.43 134,569.43 115,313.17 \r\n------------- \r\n \r\nTotal Assets \r\n \r\n$===3=7=4=,=8=4=6=.=6=5 \r\n \r\n$==1==6=8=,0=3==6=.7=5$====2=,=7=2=7=.9=0$===1=3==4=,5=6=9==.4=3$- \r\n \r\n680,180.73$ 725,857.01 \r\n------ =---====== \r\n \r\nLIABILITIES AND FUND EQUITY \r\n \r\nLIABILITIES \r\n \r\nAccounts Payable \r\n \r\n$ \r\n \r\nSalaries Payable \r\n \r\nEx~ired Grant Balances Payable \r\n \r\nDeferred Revenue \r\n \r\nCapital Lease Agreements \r\n \r\n3,138.31 $ 21,834.07 63,834.73 863.12 4,748.60 \r\n \r\nTotal Liabilities \r\n \r\n$ 3,138.31 $ 91,280.52 \r\n \r\nFUND EQUITY \r\n \r\n$ 24,972.38 $ 28,823.67 \r\n \r\n63,834.73 \r\n \r\n73,404.05 \r\n \r\n863.12 \r\n \r\n261. 74 \r\n \r\n4 748.60 \r\n \r\n$ 134,569.43 134:569.43 115,313.17 \r\n \r\n------------- ------------- ------------- \r\n \r\n$ 134,569.43 $ 228,988.26$ 217,802.63 \r\n------------- ------------- ------------- \r\n \r\nFund Balances Reserved For Bus Replacement Funds $ For Continuation of Federal Pre\u003egrams For Expired Grant Balances/ Questioned Costs For Inventories Food Donated Cannodities Purchased Food \r\n \r\n9,500.58 6,162.91 \r\n$ \r\n \r\n6,540.47 3,141.37 \r\n \r\nUnreserved Undesignated \r\n \r\n$ 15,663.49 $ 9,681.84 356,044.85 67,074.39$ 2,727.90 \r\n \r\nTotal Fund Equity \r\n \r\n$ 371,708.34$ 76,756.23 $ 2,727.90 \r\n \r\n$ 9,500.58$ 28,955.87 \r\n \r\n27.12 \r\n \r\n6,162.91 \r\n \r\n1,957.50 \r\n \r\n6,540.47 \r\n \r\n8,779.62 \r\n \r\n3,141.37 \r\n \r\n4,132.15 \r\n \r\n------------- ------------- \r\n \r\n$ 25,345.33 $ 43,852.26 \r\n \r\n425,847.14 464,202.12 \r\n------------- ------------- \r\n \r\n$ 451,192.47$ 508,054.38 \r\n------------- ------------- \r\n \r\nTotal Liabilities and \r\n \r\nFund Equity \r\n \r\n$--3-74-,-84-6-.6-5$==1=6=8=,=0=3=6=.7=5$====2=,7=2=7==.9=0$===1=3=4,=5=6=9.=4=3 $===6=8=0=,1=8=0=.=7=3 $===7=2=5,=8=5=7.=0=1 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. - 2- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nGOVERNMENTAL FUND TYPES \r\nYEAR ENDED JUNE 30. 1994 \r\n \r\nEXHIBIT \"B\" \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nTOTALS (Memorandun Only) \r\n----------Y-EA-R---EN--D-ED---------- \r\nJUNE 30, 1994 JUNE 30, 1993 \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Local and Other Funds \r\n \r\n$2,694,647.85$ 194,937.13 $ 10,000.00$ 2,899,584.98$ 2,693,818.16 \r\n \r\n31,265.00 771,948.82 \r\n \r\n803,213.82 884,631.23 \r\n \r\n1,067,118.21 \r\n \r\n22,099.95 \r\n \r\n60.62 1,089,278.78 1,130,151.10 \r\n \r\nTotal Revenues \r\n \r\n$3,793,031.06$ 988,985.90$ 10,060.62 $4,792,077.58$ 4,708,600.49 \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Adninistration Business Adninistration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services \r\nCap;tal Outlay Debt Service \r\nPrincipal Interest \r\nTotal Expenditures \r\n \r\n$2,217,180.68$ 437,534.79 \r\n \r\n$2,654,715.47$ 2,552,532.92 \r\n \r\n99,839.47 92,289.76 85,865.25 124,146.16 354,904.83 55,467.55 358,835.33 308,170.42 15,632.00 \r\n \r\n16,572.83 24,381.01 29,903.38 63,114.34 \r\n23,224.00 13,586.00 88,248.72 348,123.48 \r\n \r\n116,412.30 116,670.77 115,768.63 187,260.50 354,904.83 55,467.55 382,059.33 321,756.42 15,632.00 88,248.72 348,123.48 \r\n \r\n117,325.04 83,817.63 79,447.37 162,220.03 349,611.29 53,897.26 348,108.41 302,348.13 99,317.80 343,727.85 \r\n \r\n52,018.22 37,196.56 \r\n \r\n$ 10,000.00 \r\n \r\n52,018.22 47,196.56 \r\n \r\n46,707.45 \r\n \r\n35,207.74 31,190.40 \r\n \r\n66,398.14 \r\n \r\n8,362.34 \r\n \r\n368.70 \r\n \r\n8,731.04 \r\n \r\n------------- ------------- ------------- ------------- ------------- \r\n \r\n$ 3,845,116.31 $1,076,247.65$ 10,000.00 $4,931,363.96$ 4,539,061.18 \r\n \r\nExcess of Revenues over (under) Expenditures $ -52,085.25 $ -87,261.75 $ \r\n \r\n60.62 $ -139,286.38 $ 169,539.31 \r\n \r\nOTHER FINANCING SOURCES (USES) \r\n \r\nCapital Leases Operating Transfers In Operating Transfers Out \r\n \r\n$ 85,654.40 \r\n \r\n165.05 \r\n \r\n$ \r\n \r\n-165.05 \r\n \r\n$ 85,654.40 165.05 $ -165.05 \r\n \r\n364.43 -364.43 \r\n \r\nTotal Other Financing Sources (Uses) \r\n \r\n$ \r\n \r\n-165.05 $ 85,819.45 \r\n \r\n$ 85,654.40$ \r\n \r\n0.00 \r\n \r\nExcess of Revenues and Other Financing Sources \r\n \r\nover (under) Expenditures and Other \r\n \r\nFinancing Uses \r\n \r\n$ -52,250.30 $ -1,442.30 $ \r\n \r\n60.62 $ -53,631.98 $ 169,539.31 \r\n \r\nFUND BALANCE JULY 1 \r\n------------------- \r\n \r\n423,958.64 \r\n \r\n81,428.46 \r\n \r\n2,667.28 508,054.38 340,062.59 \r\n \r\nFood Inventory Donated Conmodities July 1 June 30 Purchased Food July 1 June 30 \r\n \r\n-8,779.62 6,540.47 \r\n \r\n-8,779.62 -11,784.56 \r\n \r\n6,540.47 \r\n \r\n8,779.62 \r\n \r\n-4,132.15 \r\n \r\n-4,132.15 \r\n \r\n-2,674.73 \r\n \r\n3,141.37 \r\n \r\n3,141.37 \r\n \r\n4,132.15 \r\n \r\n------------- ------------- ------------- ------------- ------------- \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 371,708.34$ 76,756.23 $ 2,727.90$ 451,192.47 $ 508,054.38 \r\n====-===== ========= ========== ============ ======= \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. - 3- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nACTUAL AND BUDGET - GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1994 \r\n \r\nEXHIBIT \"C\" \r\n \r\nACTUAL \r\n \r\nACTUAL \r\n \r\nPER \r\n \r\nPER \r\n \r\nEXHIBIT \"B\" ADJUSTMENTS BUDGET BASIS \r\n \r\nBUDGET \r\n \r\nVARIANCE FAVORABLE (UNFAVORABLE) \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Local and Other Funds \r\n \r\n$2,899,584.98$ 803,213.82 \r\n1,089,278.78 \r\n \r\n0.00 $2,899,584.98$ 2,698,050.00$ 201,534.98 803,213.82 775,540.00 27,673.82 \r\n1,089,278.78 1,156,191.00 -66,912.22 \r\n \r\nTotal Revenues \r\n \r\n$4,792,077.58$ \r\n \r\n0.00 $4,792,077.58$ 4,629,781.00$ 162,296.58 \r\n \r\nEXPENDITlRES \r\n \r\nCurrent Instruction Support Services Pupil Services Ill!Provement of Instructional Services Educational Media Services General Aaninistration School Aaninistration Business Aaninistration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services \r\nCapital Outlay Debt Service \r\nTotal Expenditures \r\n \r\n$2,654,715.47$ \r\n \r\n0.00 $2,654,715.47$ 2,485,497.00$ -169,218.47 \r\n \r\n116,412.30 116,670.77 115,768.63 187,260.50 354,904.83 55,467.55 382,059.33 321,756.42 15,632.00 88,248.72 348,123.48 \r\n \r\n116,412.30 116,670.77 115,768.63 187,260.50 354,904.83 55 467.55 382:059.33 321,756.42 15,632.00 88,248.72 348,123.48 \r\n \r\n127,674.00 98,078.00 88,593.00 187,958.00 361,480.00 55,570.00 351,475.00 368,944.00 126,765.00 \r\n200.00 321,870.00 \r\n \r\n11,261.70 -18,592.77 -27,175.63 \r\n697.50 6,575.17 \r\n102.45 -30,584.33 47 187.58 111:133.00 -88,048.72 -26,253.48 \r\n \r\n52,018.22 \r\n \r\n52,018.22 \r\n \r\n58,700.00 \r\n \r\n6,681.78 \r\n \r\n47,196.56 \r\n \r\n47,196.56 \r\n \r\n-47,196.56 \r\n \r\n75,129.18 \r\n \r\n75,129.18 \r\n \r\n-75,129.18 \r\n \r\n------------- ------------- ------------- ------------- ------------- \r\n \r\n$4,931,363.96$ \r\n \r\n0.00 $4,931,363.96$ 4,632,804.00$ -298,559.96 \r\n \r\nExcess of Revenues over (under) Expenditures $ -139,286.38 $ \r\n \r\n0.00 $ -139,286.38 $ -3,023.00 $ -136,263.38 \r\n \r\nOTHER FINANCING SOIRCES (USES) \r\n \r\nOther Sources Other Uses \r\n \r\n$ 85,819.45$ -165.05 \r\n \r\n0.00 $ 85,819.45$ 1,000.00$ 84,819.45 \r\n \r\n-165.05 \r\n \r\n-165.05 \r\n \r\nTotal Other Financing Sources (Uses) \r\n \r\n$ 85,654.40$ \r\n \r\n0.00 $ 85,654.40$ 1,000.00$ 84,654.40 \r\n \r\nExcess of Revenues and Other Financing Sources \r\n \r\nover (under) Expenditures and Other \r\n \r\nFinancing Uses \r\n \r\n$ -53,631.98 $ \r\n \r\n0.00 $ -53,631.98 $ -2,023.00 $ -51,608.98 \r\n \r\nFUND BALANCE JULY 1, 1993 \r\n------------------------- \r\nADJUSTMENTS \r\n----------- \r\nPrior Year (Net) \r\n \r\n508,054.38 -12,911.77 495,142.61 495,627.95 \r\n \r\n-485.34 \r\n \r\n0.00 \r\n \r\n656.86 \r\n \r\n-656.86 \r\n \r\nFOOD INVENTORY \r\n-------------- \r\nDonated Comnodities July 1 1993 June 30, 1994 \r\nPurchased Food July 1 1993 June 30, 1994 \r\n \r\n-8,779.62 \r\n \r\n8,779.62 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n6,540.47 \r\n \r\n-6,540.47 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n-4,132.15 \r\n \r\n4,132.15 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n3,141.37 \r\n \r\n-3,141.37 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n------------- ------------- ------------- ------------- ------------- \r\n \r\nFUND BALANCE JUNE 30, 1994 \r\n \r\n$ 451,192.47 $ -9,681.84 $ 441,510.63 $ 494,261.81 $ -52,751.18 \r\n=========== ======== ===-======= ========= ========== \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. \r\n- 4- \r\n \r\n STEWART 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\nThe Stewart County Board ofEducation (Board) was established under the laws ofthe State ofGeorgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. 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 ofthe 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 ofGovernmental 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 ofthe Stewart County Board ofEducation. \r\nBased upon the application ofthe above criteria, the Stewart 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 Stewart 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, 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 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. \r\nA fund is a separate accounting entity with a self-balancing set ofaccounts. 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\n- 5- \r\n \r\n STEWART 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 I: 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 confonn 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 contr61 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 traditionally provided by a board ofeducation. \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\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 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\n- 6- \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\n \r\nEXfllBIT \"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\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\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\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 ofpersonnel of the Board were employed for a one hundred and ninety day period beginning in late August 1993 and ending in early June 1994. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1993 and ending in August 1994. State grants to fund the State's share of these contracts were disbursed from the Georgia Department ofEducation to the Board in the same twelve months. As ofJune 30, 1994, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1994, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1994. Also, the State's portion 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\nBUDGET \r\nStewart 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 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 of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions ofthe Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. \r\n- 7- \r\n \r\n STEWART 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\nThe Board prepares its budget on the modified accrual basis, which is the same basis on which it presents its financial statements. The budget comparison on Exhibit \"C\" presents actual and budget data for all governmental funds on a combined basis. To facilitate comparison with the budget, donated and purchased food inventories as reflected on Exhibit \"B\" have been eliminated from fund balance. \r\n \r\nCASH AND CASH EQUIVALENTS \r\n \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist ofdeposits (mcluding N.O.W. accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement ofproceeds from bond issues in certificates of deposit is limited to financial institutions located within this State. \r\n \r\nRECEIVABLES \r\nReceivables consist ofgrant reimbursements due from Federal and State 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 Stewart County Board ofCommissioners fixed the property tax levy for the 1993 tax year (calendar year) on October 21, 1993 (levy date). Taxes were due on January 20, 1994. 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 ofGASB codification section P70.103. The Stewart County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% oftaxes collected as a fee for tax collection, and remits the balance oftaxes collected to the Board. \r\nThe tax millage rate levied for the 1993 tax year (calendar year) for the Stewart County Board ofEducation was as follows (a mill equals $1 per thousand dollars ofassessed value): \r\n \r\nSchool Operations \r\n \r\nllJ.2 mills \r\n \r\nINVENTORIES \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 \r\n \r\n- 8- \r\n \r\n STEWART 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 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\ncommodity 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 ofnet current assets. \r\nINTERFUND TRANSACTIONS \r\nThe Board has the following types ofinterfund transactions: \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\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 ofthis data. \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 ofthe public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public fund~ 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( I) 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 ofthe United States or of the State of Georgia, \r\n- 9- \r\n \r\n STEWART 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\n(4) Bonds, bills, notes, certificates of indebtedness or other obligations ofthe counties or municipalities ofthe State of Georgia, \r\n \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 \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 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, 1994, the bank balances were $619,498.72. The amounts ofthe total bank balances are classified into three categories of credit risk: \r\n \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \r\n \r\nThe Board's deposits are classified by risk category at June 30, 1994, as follows: \r\n \r\nRisk Catego:ry \r\n \r\nBank Balance \r\n \r\n1 \r\n \r\n$ 100,000.00 \r\n \r\n2 \r\n \r\n0.00 \r\n \r\n3 \r\n \r\n519,498.72 \r\n \r\nTotal \r\n \r\n$ 619.498.72 \r\n \r\n- 10 - \r\n \r\n STEWART 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 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: GENERAL LONG-TERM DEBT \r\n \r\nCAPITAL LEASES The Stewart County Board ofEducation has entered into various lease agreements as lessee for computer equipment, copier and buses. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value ofthe future minimum lease payments as ofthe date oftheir inception. \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1994, were as follows: \r\n \r\nCapital Leases \r\n \r\nBalance July 1, 1993 \r\n \r\n$ 115,313.17 \r\n \r\nAdditions \r\n \r\n85,654.40 \r\n \r\nDeletions \r\n \r\n66,398.14 \r\n \r\nBalance June 30, 1994 \r\n \r\n$ IJ~,569.43 \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 \r\n \r\n$ 46,689.83 64,248.93 22,422.35 19,868.04 \r\n \r\nTotal Principal and Interest \r\n \r\n$ 153,229.15 \r\n \r\nDeduct: Imputed Interest \r\n \r\n18,659.72 \r\n \r\nNet Present Value ofFuture Minimum Lease Payments \r\n \r\n$ 134,569.43 \r\n \r\n- 11 - \r\n \r\n STEWART 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 5: SIGNIFICANT COMMITMENTS \r\n \r\nAt June 30, 1994, the Board had encumbrances in the amount of$6,323.60 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with the Lottery Programs. The Georgia Department ofEducation has funding available to the Board in an amount equal to these encumbrances. The revenues and expenditures associated with these encumbrances will be recognized in the subsequent fiscal year. Encumbrances outstanding do not constitute expenditures or liabilities in the current year because these commitments will be honored during the subsequent year. These encumbrances are identified by Lottery Program as follows: \r\n \r\nAlgebra Classrooms Computers in Classrooms Distant Learning Media Center and Library Equipment \r\n \r\n$ 1,357.20 67.83 30.41 \r\n4,868.16 \r\n \r\n$ 6,323.60 \r\n \r\nThe amounts described in this note are not reflected in the general purpose financial statements. \r\n \r\nNote 6: 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 a legal proceeding pertaining to a matter incidental to the performance of routine Board operations. The ultimate disposition ofthis proceeding is not presently determinable, but is not believed to be material to the general purpose financial statements. \r\n \r\nNote 7: 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 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 ofyears of \r\n \r\n- 12 - \r\n \r\n STEWART 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 7: RETIREMENT PLANS \r\ncreditable service up to 40 years. The nonnal retirement pension is payable monthly for life. Options are available for distnbution 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 ofdisability 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 $2,645,156.69; total payroll was $3,125,016.63. \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 $471,250.96, ofwhich $312,500.86 was made by the Board and $158,750.10 was made by employees. These contributions represented 11. 81 % (Board) and 6% (employees) ofcovered payroll. \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 ~dardized 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 ofTRS as ofJune 30, 1993, was as follows: \r\n \r\n- 13 - \r\n \r\n STEWART 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 7: 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 ofassets 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$312,500.86 was actuarially determined and represented .0599% 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 TR.S'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 ofGeorgia. \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 service retirement with 10 years ofservice and retires between the ages of60 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 ifthe 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 ofthe employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life half ofwhat the employee would have received upon retirement. \r\n \r\nMembers become fully vested after ten years of service. Ifa 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 35 employees covered under PSERS for the year ended June 30, 1994. \r\n \r\n- 14 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION \r\n \r\nEXI-IlBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS \r\n \r\nJUNE 30, 1994 \r\n \r\nNote 7: RETIRE:MENT 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 contnbutions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contnbutions from employees ofthe Board made during fiscal year 1994 amounted to $1,184.00. 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 8: SURETY BONDS \r\nThe School Superintendent, Mr. Fountain B. WlDls, is bonded in the amount of$25,000.00 with the Western \r\nSurety Company, Sioux Falls, South Dakota, their Bond No. 58595288, on which premium was paid through August 31, 1995. \r\n \r\n- 15 - \r\n \r\n ASSETS \r\nCash and Cash Equivalents Accounts Receivable Inventories \r\nFood Donated Commodities Purchased Food \r\n \r\nSTEWART COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1994 \r\n \r\nSCHOOL FOOD SERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nSTATE PRESCHOOL HANDICAPPED PROGRAM \r\n \r\nELEMENTARY \r\nCHAPTER 1 \r\nEDUCATION OF DEPRIVED CHILDREN \r\n \r\n$ 75,430.41 $ ll ,B82 .12 $ 2,289.39 \r\n \r\n0.00 $ \r\n \r\n71,508.64 \r\n \r\n6,540.47 3,141.37 \r\n \r\nTotal Assets \r\n \r\n$ 87,401.64 $ 11,882.12 $ \r\n \r\n0.00 $ 71,508.64 \r\n \r\n============= ============= ============= ============= \r\n \r\nLIABILITIES AND FUND EQUITY \r\n \r\nLIABILITIES \r\n \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue \r\nTotal Liabilities \r\nFUND EQUITY \r\n \r\n$ \r\n \r\n710.25 $ 6,861.25 \r\n \r\n9,935.16 \r\n \r\n272.27 \r\n \r\n4,748.60 \r\n \r\n------------- ------------- \r\n \r\n$ 10,645.41 $ 11,882.12 \r\n------------- ------------- \r\n \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$ 6,540.47 3,141.37 \r\n------------- \r\n \r\n$ 9,681.84 \r\n \r\n67,074.39 $ \r\n \r\n0.00 $ \r\n \r\n------------- ------------- \r\n \r\n$ 76,756.23 $ \r\n \r\n0.00 $ \r\n \r\n------------- ------------- \r\n \r\n$ 7,684.32 11,065.31 52,683.64 75.37 \r\n------------- \r\n$ 71,508.64 \r\n------------- \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 $ 87,401.64 $ 11,882.12 $ \r\n \r\n0.00 $ 71,508.64 \r\n \r\n============= ============= ============= ============= \r\n \r\nSee notes to the general purpose financial statements. - 16 - \r\n \r\n EXHIBIT \"E\" \r\n \r\nAND SECONDARY EDUCATION ACT \r\n \r\nCHAPTER 2 \r\n------------BLOCK GRANT FLOW THROUGH \r\n \r\nTITLE II EISENHOWER \r\nMATHEMATICS AND SCIENCE \r\nEDUCATION \r\n \r\nINDIVIDUALS WITH \r\nDISABILITIES EDUCATION ACT TITLE VI, B \r\n \r\nFLOW THROUGH \r\n \r\nPRESCHOOL PROGRAM \r\n \r\nJOB TRAINING PARTNERSHIP ACT \r\n \r\nTOTALS JUNE 30, 1994 JUNE 30, 1993 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n301.82 $ \r\n \r\n486.82 $ \r\n \r\n107.89 \r\n \r\n$ 88,209.06$ 68,314.45 \r\n \r\n2,345.93 \r\n \r\n$ 1,773.78 \r\n \r\n77,917.74 \r\n \r\n88,050.29 \r\n \r\n6,540.47 3,141.37 \r\n \r\n8,779.62 4,132.15 \r\n \r\n$ \r\n \r\n0.00 $ 2,647.75$ \r\n \r\n486.82 $ \r\n \r\n107.89 $ 1,773.78$ 175,808.64$ 169,276.51 \r\n \r\n============= ============= ============= ============= ============= ============= ============= \r\n \r\n$ \r\n \r\n87.57 $ 7,771.89 \r\n \r\n$ 2,647.75$ \r\n \r\n79.23 \r\n \r\n470.28 \r\n \r\n21,834.07 $ 14,182.26 \r\n \r\n1,215.93 \r\n \r\n63,834.73 \r\n \r\n73,404.05 \r\n \r\n407.59 $ \r\n \r\n107.89 \r\n \r\n863.12 \r\n \r\n261.74 \r\n \r\n4,748.60 \r\n \r\n------------- ------------- ------------- ------------- ------------- ------------- \r\n \r\n$ 2,647.75 $ \r\n \r\n486.82 $ \r\n \r\n107.89 $ 1,773.78 $ 99,052.41 $ 87,848.05 \r\n \r\n$ \r\n \r\n27.12 \r\n \r\n$ 6,540.47 3,141.37 \r\n \r\n8,779.62 4,132.15 \r\n \r\n$ 9,681.84$ 12,938.89 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n67,074.39 \r\n \r\n68,489.57 \r\n \r\n$ ---- \r\n \r\n0.00 \r\n-------- \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n------------- \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n------------- \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n------------- \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n------------- \r\n \r\n$ 76,756.23 \r\n------------- \r\n \r\n$ 81,428.46 \r\n------------- \r\n \r\n$==========0=.0==0 \r\n \r\n$ 2,647.75 \r\n============= \r\n \r\n$ \r\n \r\n486.82 \r\n \r\n============= \r\n \r\n$ \r\n \r\n107.89 \r\n \r\n============= \r\n \r\n$ 1,773.78$ 175,808.64 \r\n============= ============= \r\n \r\n$ 169,276.51 \r\n============= \r\n \r\n- 17 - \r\n \r\n STEWART 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\nSCHOOL FOOD SERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nSTATE PRESCHOOL HANDICAPPED PROGRAM \r\n \r\nELEMENTARY CHAPTER 1 EDUCATION OF DEPRIVED CHILDREN \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Local and Other Funds \r\n \r\n$ 23,006.00$ 164,836.13$ 301,602.35 22,099.95 \r\n \r\n7,095.00 $ 417,153.2! \r\n \r\nTotal Revenues \r\n \r\n$ 346,708.30$ 164,836.13$ \r\n \r\n7,095.00$ 417,153.27 \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruct;on Support Serv;ces Pup;l Serv;ces Improvement of Instruct;onal Serv;ces Educat;onal Media Serv;ces General Admin;strat;on Ma;ntenance and Operat;on of Plant Student Transportat;on Serv;ces Central Support Serv;ces Other Support Services Food Serv;ces Operat;on Debt Serv;ce Principal Interest Total Expenditures \r\n \r\n$ 142,452.90 \r\n \r\n$ 266,972.50 \r\n \r\n10,337.39 $ 2,027.70 \r\n29,903.38 23,224.00 11,150.00 \r\n \r\n3,596.11 \r\n \r\n62,996.05 2,436.00 \r\n \r\n$ 348,123.48 \r\n \r\n3,500.00 \r\n \r\n84,748.72 \r\n \r\n31,190.40 \r\n------------- --------3-6-8-.7--0 ------------- ------------- \r\n \r\n$ 348,123.48$ 250,654.47 $ \r\n \r\n7,096.11 $ 417,153.27 \r\n \r\nExcess of Revenues over (under) Expend;tures $ -1,415.18 $ -85,818.34 $ \r\n \r\n-1.11 $ \r\n \r\n0.00 \r\n \r\nOTHER FINANCING SOURCES \r\n \r\nCapital Lease Operating Transfers In \r\n \r\n$ 85,654.40 \r\n--------1-6-3-.-9-4 $----------1-.1--1 \r\n \r\nTotal Other Sources \r\n \r\n$----8--5-,8--1-8-.3--4 $----------1-.1-1- \r\n \r\nExcess of Revenues and Other Financ;ng Sources \r\n \r\nover (under) Expenditures \r\n \r\n$ -1,415.18 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n81,401.34 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\nFood Inventory Donated Commodit;es July 1 June 30 Purchased Food July 1 June 30 \r\n \r\n-8,779.62 6,540.47 -4,132.15 3,141.37 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$=====7=6=,7==5=6=.2==3 $==========0=.0==0 $==========0=.0==0 $==========0=.0==0 \r\n \r\nSee notes to the general purpose f;nancial statements. - 18 - \r\n \r\n EXHIBIT \"F\" \r\n \r\nA-N-D--S-E-C-O-N-D-A-R-Y---E-D-U-C-TA-ITT-IOL-NE---AI-IC-T---- \r\n \r\n-B-LO-CC-HK-A-P-GT-ERR-A-N-T2--- \r\n \r\nEISENHOWER MATHEMATICS AND SCIENCE \r\n \r\nFLOW THROUGH EDUCATION \r\n \r\nINDIVIDUALS WITH DISABILITIES EDUCATION ACT \r\nTITLE VI, B \r\n \r\nFLOW THROUGH \r\n \r\nPRESCHOOL PROGRAM \r\n \r\nJOB TRAINING PARTNERSHIP ACT \r\n \r\n----------Y-EA-TR-O-T-AE-NL-DS-ED---------- \r\nJUNE 30, 1994 JUNE 30, 1993 \r\n \r\n$ 11,220.00 $ 10,932.88$ 24,565.41 $ $ 11,220.00 $ 10,932.88$ 24,565.41 $ \r\n \r\n3,176.11 $ 3,176.11 $ \r\n \r\n$ 194,937.13 $ 30,436.66 \r\n \r\n3,298.80 771,948.82 853,124.93 \r\n \r\n22,099.95 \r\n \r\n23,050.16 \r\n \r\n3,298.80$ 988,985.90$ 906,611.75 \r\n \r\n$ 11,175.54 \r\n \r\n$ 11,169.01 $ \r\n \r\n$ 10,960.00 \r\n \r\n2,016.83 11,305.74 \r\n \r\n44.46 \r\n \r\n73.83 \r\n \r\n$ 11,220.00 $ 10,960.00 $ 24,565.41 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n-27.12 $ \r\n \r\n0.00 $ \r\n \r\n2,553.61 $ 622.50 \r\n3,176.11 $ 0.00 $ \r\n \r\n3,211.23 $ 87.57 \r\n \r\n437,534.79$ 16,572.83 24,381.01 29,903.38 63,114.34 23,224.00 13,586.00 88,248.72 348,123.48 31,190.40 \r\n368.70 \r\n \r\n385,195.28 8,019.77 13,033.05 60,061.97 2,259.00 \r\n84,051.80 343,727.85 \r\n \r\n3,298.80$ 1,076,247.65$ 896,348.72 \r\n \r\n0.00 $ -87,261.75 $ 10,263.03 \r\n \r\n$ 85,654.40 165.05 $ \r\n$ 85,819.45$ \r\n \r\n364.43 364.43 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n-27.12 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ -1,442.30 $ 10,627.46 \r\n \r\n0.00 \r\n \r\n27.12 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n81,428.46 \r\n \r\n72,348.52 \r\n \r\n-8, 779. 62 6,540.47 -4,132.15 3,141.37 \r\n \r\n-11,784.56 8,779.62 -2,674.73 4,132.15 \r\n \r\n$==========0=.0==0 $==========0=.0==0 $==========0=.0==0 $==-==-===0-=.0=0- $-==--=--==0-.=0=0 $=-===7=6=,=7=5=6=.2==3 $=====8=1=,4=2==8=.4=6= \r\n \r\n- 19 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30, 1994 \r\n \r\nEXHIBIT \"G\" \r\n \r\nASSETS Cash and Cash Equivalents \r\nFUND EQUITY Fund Balances \r\nUnreserved Undesignated \r\n \r\nREGULAR \r\n \r\nGOVERNOR'S EMERGENCY FUND \r\n \r\nTOTALS JUNE 30, 1994 JUNE 30, 1993 \r\n \r\n$ 2,727.90 $ \r\n \r\n0.00 $ 2,727.90$ 2,667.28 \r\n \r\n============= ============= ============= =======S==== \r\n \r\n$ 2,727.90$ \r\n \r\n0.00 $ 2,727.90$ 2,667.28 \r\n \r\n============= ============= ============= ============= \r\n \r\nSee notes to the general purpose financial statements. - 20 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nCAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 1994 \r\n \r\nEXHIBIT \"H\" \r\n \r\nREGULAR \r\n \r\nGOVERNOR'S EMERGENCY FUND (1) \r\n \r\nTOTALS \r\nYEAR ENDED ---------------------------JUNE 30, 1994 JUNE 30, 1993 \r\n \r\nREVENUES \r\n \r\nState Funds local and Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\n \r\n$ 10,000.00 $ 10,000.00 \r\n \r\n$ \r\n \r\n60.62 \r\n \r\n60.62 $ \r\n \r\n61.93 \r\n \r\n------------- ------------- ------------- ------------- \r\n \r\n$ \r\n \r\n60.62 $ 10,000.00 $ 10,060.62 $ \r\n \r\n61.93 \r\n \r\n------------- ------------- ------------- ------------- \r\n \r\nCurrent Per Diem Building and Building Improvements \r\n \r\n$ \r\n \r\n0.00 $ 3,879.40 $ 3,879.40 $ \r\n \r\n0.00 \r\n \r\n6,120.60 \r\n \r\n6,120.60 \r\n \r\n------------- ------------- ------------- ------------- \r\n \r\nTotal Expenditures \r\n \r\n$ \r\n \r\n0.00 $ 10,000.00 $ 10,000.00 $ \r\n \r\n0.00 \r\n \r\n------------- ------------- ------------- ------------- \r\n \r\nExcess of Revenues over (under) Expenditures $ \r\n \r\n60.62 $ \r\n \r\n0.00 $ \r\n \r\n60.62 $ \r\n \r\n61.93 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n2,667.28 \r\n \r\n0.00 \r\n \r\n2,667.28 \r\n \r\n2,605.35 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 2,727.90 $ \r\n \r\n0.00 $ 2,727.90$ 2,667.28 \r\n \r\n============= ============= ============= ============= \r\n \r\n(1) The purpose of these funds is to renovate Lumpkin Elementary School. \r\n \r\nSee notes to the general purpose financial statements. - 21 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nYEAR ENDED JUNE 30. 1994 \r\n \r\nSCHEDULE \"l\" Page 1 \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\n-------------- \r\n \r\nFEDERAL FUNDS \r\n \r\nRECEIVED IN FEDERAL \r\n \r\nCFDA AWARDS \r\n \r\nPERIOD (NET REVENUE EXPENDITURES \r\n \r\nNIJ4BER IN PERIOD OF REFUNDS) IN PERIOD \r\n \r\nIN PERIOD \r\n \r\n------------- ------------- ------------- ------------- \r\n \r\nAgriculture, U. S. Department of Through Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1994 Grant National School Lunch Program 1993 Grant 1994 Grant Food Distribution Program (1) \r\n \r\n10.553 $ 58,637.58$ 58,637.58$ 58,637.58 \r\n \r\n(2) \r\n \r\n10.555 \r\n \r\n2,071.10 \r\n \r\n10.555 219,346.93 217,057.54 219,346.93$ 324,505.64(3) \r\n \r\n10.550 23,617.84 \r\n \r\nN/A \r\n \r\n23,617.84 \r\n \r\n23,617.84 \r\n \r\n------------- ------------- ------------- ------------- \r\n \r\nTotal U. S. Department of Agriculture \r\n \r\n$ 301,602.35$ 277,766.22$ 301,602.35$ 348,123.48 \r\n------------- ------------- ------------- ------------- \r\n \r\nEducation, U. S. Department of \r\n \r\nThrough Georgia Department of Education \r\n \r\nElanentary and Secondary Education Act \r\n \r\nChapter 1 \r\n \r\nEducation of Deprived Children \r\n \r\n1993 Regular \r\n \r\n*84.010 \r\n \r\n$ 81,417.34 \r\n \r\n1993 Carry-Over \r\n \r\n*84.010 $ 13,472.00 \r\n \r\n13,472.00$ 13,472.00$ 13,472.00 \r\n \r\n1994 Regular \r\n \r\n*84.010 406,026.00 332,248.00 403,681.27 403,681.27 \r\n \r\nChapter 2 \r\n \r\nBlock Grant - Flow Through \r\n \r\n1994 Regular \r\n \r\n84.151 \r\n \r\n11,220.00 \r\n \r\n11,220.00 \r\n \r\n11,220.00 \r\n \r\n11,220.00 \r\n \r\nTitle II \r\n \r\nEisenhower Mathematics and Science \r\n \r\nEducation \r\n \r\n1993 Regular \r\n \r\n84.164 \r\n \r\n3,932.88 \r\n \r\n3,932.88 \r\n \r\n3,960.00 \r\n \r\n1994 Regular \r\n \r\n84.164 \r\n \r\n7,000.00 \r\n \r\n4,654.07 \r\n \r\n7,000.00 \r\n \r\n7,000.00 \r\n \r\nIndividuals with Disabilities Education Act \r\n \r\nTitle VI, B \r\n \r\nFlow Through \r\n \r\n1993 Regular \r\n \r\n84.027 \r\n \r\n-105.69 \r\n \r\n1993 Carry-Over \r\n \r\n84.027 \r\n \r\n2,795.00 \r\n \r\n2,795.00 \r\n \r\n2,795.00 \r\n \r\n2,795.00 \r\n \r\n1994 Regular \r\n \r\n84.027 \r\n \r\n29,992.00 \r\n \r\n22,178.00 \r\n \r\n21,770.41 \r\n \r\n21,770.41 \r\n \r\nPreschool Program \r\n \r\n1993 Regular \r\n \r\n84.173 \r\n \r\n-0.71 \r\n \r\n1994 Regular \r\n \r\n84.173 \r\n \r\n5,784.00 \r\n \r\n3,284.00 \r\n \r\n3,176.11 \r\n \r\n3,176.11 \r\n \r\nVocational Education - Basic Grants to States \r\n \r\nHigh School Program \r\n \r\nBasic Grant \r\n \r\n1994 Grant \r\n \r\n84.048 \r\n \r\n31,265.00 \r\n \r\n30,195.00 \r\n \r\n31,265.00 \r\n \r\n(4) \r\n \r\n------------- ------------- ------------- ------------- \r\n \r\nTotal U. S. Department of Education \r\n \r\n$ 507,554.00$ 505,289.89$ 498,312.67$ 467,074.79 \r\n------------- ------------- ------------- ------------- \r\n \r\n- 22 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nYEAR ENDED JUNE 30, 1994 \r\n \r\nSCHEDULE \"l\" Page 2 \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\n-------------- \r\nJustice, U. S. Department of Through Office of the Governor Juvenile Justice and Delinquency Prevention Program In-School Probation 1993 Grant \r\nLabor, U. S. Department of Through Columbus, Georgia Consolidated Government Job Training Partnership Act Contract No. 92362 Contract No. 93087 \r\nTotal U. S. Department of Labor \r\n \r\nFEDERAL FUNDS \r\n \r\nRECEIVED IN FEDERAL \r\n \r\nCFDA AWARDS \r\n \r\nPERIOD (NET REVENUE EXPENDITIRES \r\n \r\nNUMBER IN PERIOD OF REFUNDS) IN PERIOD \r\n \r\nIN PERIOD \r\n \r\n------------- ------------- ------------- ------------ \r\n \r\n16.540 \r\n \r\n$ 2,214.93 \r\n------------- \r\n \r\n17.250 \r\n \r\n$ 3,871.94 $ 1,525.02 $ 1,525.02 \r\n \r\n17.250 $ 4,682.00 \r\n \r\n1,773.78 \r\n \r\n1,773.78 \r\n \r\n------------- ------------- ------------- ------------- \r\n \r\n$ 4,682.00$ 3,871.94 $ 3,298.80$ 3,298.80 \r\n------------- ------------- ------------- ------------- \r\n \r\nTotal Federal Financial Assistance \r\n \r\n$ 813,838.35$ 789,142.98$ 803,213.82 $ 818,497.07 \r\n========= ==~-====== ========= ======= \r\n \r\nThe major program is identified by an asterisk (*) in front of the CFDA number. \r\n \r\n(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated comnodities 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 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. \r\n \r\nSee notes to the general purpose financial statements. - 23 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION ANALYSIS OF CASH AND CASH EQUIVALENTS \r\nJUNE 30, 1994 \r\nINTEREST BEARING ACCOUNTS \r\nFarmers State Bank, Lumpkin, Georgia \r\nN.O.W. Accounts (2.25%) \r\nOTHER \r\nPetty Cash \r\n \r\nSCHEDULE \"2\" \r\n$ 388,823.70 30.00 \r\n$ 388,853.70 \r\n============= \r\n \r\nSee notes to the general purpose financial statements. - 24 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30, 1994 \r\n \r\nSCHEDULE \"3\" \r\n \r\nColumbus, Georgia Consolidated Government Job Training Partnership Act \r\nEducation, Georgia Department of Food Services National School Lunch Program Vocational Education Federal Funds Federal Programs ESEA - Chapter 1 Education of Deprived Children ESEA - Title II Eisenhower Mathematics and Science Education \r\nStewart County Tax Commissioner County Wide School Tax \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nTOTAL \r\n \r\n$ 1,773.78 $ 1,773.78 \r\n \r\n$ 1,070.00 \r\n \r\n2,289.39 \r\n \r\n2,289.39 1,070.00 \r\n \r\n71,508.64 2,345.93 \r\n \r\n71,508.64 2,345.93 \r\n \r\n68,088.02 \r\n \r\n68,088.02 \r\n \r\n------------- ------------- ------------- \r\n \r\n$ 69,158.02$ 77,917.74$ 147,075.76 \r\n============= ============= ============= \r\n \r\nSee notes to the general purpose financial statements. - 25 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30. 1994 \r\n \r\nSCHEDULE \"4\" \r\n \r\nAGENCY/FUNDING \r\n \r\nGOVERNMENTAL FUND TYPES \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\nGRANTS \r\n \r\nEducation, Georgia Department of \r\n \r\nQuality Basic Education \r\n \r\nGeneral and Career Education Programs$ 1,586,076.00 \r\n \r\nSpecial Education Programs \r\n \r\n292,034.00 \r\n \r\nRemedial Education Program \r\n \r\n44,167.00 \r\n \r\nMedia Center Programs \r\n \r\n67,791.00 \r\n \r\nStaff Development Programs \r\n \r\n22,279.00 \r\n \r\nIndirect Cost \r\n \r\n477,027.00 \r\n \r\nPupil Transportation \r\n \r\nRegular \r\n \r\n176,272.00 \r\n \r\nBus Replacement \r\n \r\n60,241.00 \r\n \r\nSparsHy Grant \r\n \r\n98,82.().00 \r\n \r\nSpecial Instructional Assistance \r\n \r\n80,049.00 \r\n \r\nIn-School Suspension \r\n \r\n68,632.00 \r\n \r\nLocal Fafr Share \r\n \r\n-402,404.00 \r\n \r\nEducational Equalization Funding Grant \r\n \r\n118,591.00 \r\n \r\nFood Services \r\n \r\n$ \r\n \r\nOther State Programs \r\n \r\nGovernor's Emergency Funds (1) \r\n \r\nMentor Teacher Program \r\n \r\n2,880.00 \r\n \r\nPreschool Handicapped Program \r\n \r\nTeachers' Retirement \r\n \r\n2,192.85 \r\n \r\nLottery Programs \r\n \r\nAlgebra Classrooms \r\n \r\nComputers in Classrooms \r\n \r\nDistant Learning \r\n \r\nMedia Center and Library Equipment \r\n \r\nPre-Kindergarten Program \r\n \r\nSafe Schools Grant \r\n \r\n23,006.00 \r\n$ \r\n7,095.00 \r\n928.25 52,918.91 2,969.59 29,903.38 43,742.00 34,374.00 \r\n \r\n$1,586,076.00 292,034.00 44,167.00 67,791.00 22,279.00 477,027.00 \r\n \r\n176,272.00 60,241.00 98,820.00 80,049.00 68,632.00 -402,404.00 118,591.00 23,006.00 \r\n \r\n10,000.00 \r\n \r\n10,000.00 2,880.00 7,095.00 2,192.85 \r\n \r\n928.25 52,918.91 2,969.59 29,903.38 43,742.00 34,374.00 \r\n \r\n$2,694,647.85$ 194,937.13$ 10,000.00$ 2,899,584.98 \r\n============= ============= ============= ============= \r\n(1) The purpose of these funds is to renovate Lumpkin Elementary School. \r\n \r\nSee notes to the general purpose financial statements. - 26 - \r\n \r\n STEWART 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 Rail road Car Tax Real Estate Transfer Tax \r\nOther Compensation for Loss of Assets Donations Indirect Cost Special Revenue Fund Interest Earned Sales Adult Meals Supplemental Meals School Assets Tuition Other \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\n------------------------------------------- \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\nTOTAL \r\n------------- \r\n \r\n$ 906,137.36 268.67 \r\n1,107.71 \r\n \r\n$ 906,137.36 268.61 \r\n1,107.71 \r\n \r\n4,297.84 330.65 \r\n \r\n4,297.84 330.65 \r\n \r\n7,751.23 8,116.51 $ \r\n \r\n1,100.62 $ \r\n \r\n60.62 \r\n \r\n7,751.23 9,277.75 \r\n \r\n4,773.00 \r\n129,505.00 4,830.24 \r\n------------- \r\n \r\n19,966.41 1,032.92 \r\n------------- \r\n \r\n------------- \r\n \r\n19,966.41 \r\n1,032.92 4,773.00 \r\n129,505.00 4,830.24 \r\n------------- \r\n \r\n$ 1,067,118.21 $ 22,099.95$ \r\n \r\n60.62 $1,089,278.78 \r\n \r\n============= ============= ============= ============= \r\n \r\nSee notes to the general purpose financial statements. - 27 - \r\n \r\n ~ (Jj .,,,-, r ~ \r\n \r\n STEWART 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\nEXPENDITURES \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 Rents Insurance Communications Commodity Hauling Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Interest Expense Federal Indirect Costs Other Expenditures \r\nNonoperating Costs Principal and Interest Building and Building Improvements Equipment \r\nTotal Expenditures \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nTOTAL \r\n \r\n$2,657,430.35$ 555,545.74 21,131.22 6,567.29 8,531.63 15,473.81 81,685.68 1,916.02 43,783.32 11,722.32 \r\n12,875.00 98,085.43 84,890.62 \r\n48,767.43 12,964.50 \r\n918.31 \r\n13,936.61 \r\n \r\n467,586.28$ 3,125,016.63 \r\n \r\n108,289.65 663,835.39 \r\n \r\n7,707.56 \r\n \r\n28,838.78 \r\n \r\n2,027.08 \r\n \r\n8,594.37 \r\n \r\n8,531.63 \r\n \r\n3,037.51 \r\n \r\n18,511.32 \r\n \r\n3,625.18 \r\n \r\n85,310.86 \r\n \r\n1,916.02 \r\n \r\n43,783.32 \r\n \r\n707 .11 \r\n \r\n12,429.43 \r\n \r\n1,629.64 \r\n \r\n1,629.64 \r\n \r\n6,645.00 \r\n \r\n19,520.00 \r\n \r\n87,374.31 \r\n \r\n185,459.74 \r\n \r\n11,778.36 \r\n \r\n96,668.98 \r\n \r\n173,255.29 \r\n \r\n173,255.29 \r\n \r\n48,767.43 \r\n \r\n1,443.00 \r\n \r\n14,407.50 \r\n \r\n918.31 \r\n \r\n7,751.23 \r\n \r\n7,751.23 \r\n \r\n10,860.87 \r\n \r\n24,797.48 \r\n \r\n43,570.08 37,196.56 88,124.39 \r\n \r\n31,559.10 150,970.48 \r\n \r\n75,129.18 37,196.56 239,094.87 \r\n \r\n$ 3,845,116.31 $1,076,247.65$ 4,921,363.96 \r\n============= ============= ============= \r\n \r\nSee notes to the general purpose financial statements. - 29 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \r\nLOTTERY PROGRAMS YEAR ENDED JUNE 30. 1994 \r\n \r\nEXPENDITURES \r\nOperating Costs Salaries Employee Benefits Travel of Employees Supplies Dues and Fees \r\nNonoperating Costs Principal and Interest Equipment \r\nTotal Expenditures \r\n \r\nALGEBRA CLASSROOMS \r\n \r\nCOMPUTERS IN \r\nCLASSROOMS \r\n \r\n$ \r\n \r\n928.25 $ 1,418.91 \r\n \r\n31,559.10 105,595.30 \r\n \r\n$ \r\n \r\n928.25 $ 138,573.31 \r\n \r\nSee notes to the general purpose financial statements. - 30 - \r\n \r\n SCHEDULE \"7\" \r\n \r\nDISTANT LEARNING \r\n \r\nMEDIA CENTER AND \r\nLIBRARY EQUIPMENT \r\n \r\nPRE-KINDERGARTEN PROGRAM \r\n \r\nSAFE SCHOOLS GRANT \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n$ \r\n \r\n2,969.59 $ \r\n \r\n5,204.50 \r\n \r\n16,471.58 3,872.60 2,476.21 14,842.55 $ \r\n310.00 \r\n \r\n$ \r\n34,219.00 155.00 \r\n \r\n16,471.58 3,872.60 2,476.21 59,582.80 \r\n465.00 \r\n \r\n31,559.10 \r\n \r\n24,698.88 \r\n \r\n5,933.00 \r\n \r\n136,227.18 \r\n \r\n------------- ------------- ---------------- ------------- ------------- \r\n \r\n$ \r\n \r\n2,969.59 $ 29,903.38$ \r\n \r\n43,905.94 $ 34,374.00$ 250,654.47 \r\n \r\n============= ============= ================ ============= ============= \r\n \r\n- 31 - \r\n \r\n  STEWART 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 \"B\" \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$1,990,068.00$ 22,279.00 \r\n \r\n$1,916,752.15 109,493.52 $ 22,278.34 \r\n$ 2,026,245.67 $ 22,278.34 \r\n-4,203.80 -4,204.75 \r\n$ 2,022,041.87 $ 18,073.59 \r\n \r\n$ \r\n \r\n0.00 $ 4,205.41 \r\n \r\n============= ============= \r\n \r\nSee notes to the general purpose financial statements. - 33 - \r\n \r\n STEWART 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\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 Re~lar Pr,rams \r\nl tegory (*l \r\nCategory I I ( Category III ( ) Itinerant Supplemental Speech \r\nSub-Total - Regular Category V (Gifted) (*) \r\nTotal Special Education Programs REMEDIAL EDUCATION PROGRAM(*) MEDIA CENTER PROGRAMS \r\n \r\nORIGINAL \r\n \r\nALLOTMENTS FROM DEPARTMENT OF EDUCATION \r\n \r\nREQUIRED \r\n \r\nTOTAL \r\n \r\n...L \r\n \r\nORIGINAL \r\n \r\nMID-TERM \r\n \r\nREQUIRED \r\n \r\n$ 144,723.00 381,124.00 \r\n$ 525,847.00 90 202,699.00 90 363,814.00 90 257,322.00 90 90,893.00 90 145,501.00 90 \r\n$1,586,076.00 \r\n \r\n$ 130,250.70$ 343,011.60 \r\n$ 473,262.30$ 182,429.10 327,432.60 231,589.80 81,803.70 130,950.90 \r\n$1,427,468.40$ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n130,250.70 343,011.6~ 473,262.30 182,429.10 327,432.60 231,589.80 81,803.70 130,950.90 \r\n \r\n0.00 $1,427,468.40 \r\n \r\n$ 262,677.00 \r\n \r\n$ 236,409.30 $ \r\n \r\n0.00 $ 236,409.30 \r\n \r\n$ 262,677.00 90 29,357.00 90 \r\n$ 292,034.00 $ 44,167.00 90 $ 67 I 791. 00 90 \r\n \r\n$ 236,409.30 $ 26,421.30 \r\n$ 262,830.60$ $ 39,750.30$ $ 61,011.90 $ \r\n \r\n0.00 $ \r\n0.00 $ 0.00 $ 0.00 $ \r\n \r\n236,409.30 26,421.30 262,830.60 39,750.30 61,011.90 \r\n \r\nTotal Thirteen Weighted and Media Center $1,990,068.00 \r\n \r\n$1,791,061.20$ \r\n \r\n0.00 $1,791,061.20 \r\n \r\nSTAFF DEVELOPMENT PROGRAMS (1) Cost of Instruction Professional Development \r\n \r\n$ 7,595.25 100 $ 7,595.25$ \r\n \r\n14,683.75 100 \r\n \r\n14,683.75 \r\n \r\n0.00 $ 7,595.25 14,683.75 \r\n \r\nTotal Staff Development \r\n \r\n$ 22,279.00 \r\n \r\n$ 22,279.00$ \r\n \r\n0.00 $ 22,279.00 \r\n \r\n$ 2,012,347.00 \r\n \r\n$1,813,340.20$ \r\n \r\n0.00 $1,813,340.20 \r\n \r\n(*) Identifies Thirteen Weighted Programs. \r\n \r\nNote: (1) $2,591.25 of the allotment for Professional Development has been transferred to Cost of Instruction as authorized by OCGA 20-2-182. \r\n \r\nSee notes to the general purpose financial statements. - 34 - \r\n \r\n SCHEDULE \"9\" \r\n \r\nREQUIRED ALLOTMENT \r\n \r\nSALARIES ACTUAL \r\n \r\nDISTRIBUTION BY RESPECTIVE PORTIONS \r\n \r\nAMOUNT OF UNDEREXPENDITURE \r\nFOR REQUIRED ALLOTMENT \r\n \r\nREQUIRED ALLOTMENT \r\n \r\nOPERATIONS ACTUAL \r\n \r\nAMOUNT OF UNDEREXPENDITURE \r\nFOR REQUIRED ALLOTMENT \r\n \r\n$ 127,051.20 $ 145,099.39 \r\n \r\n$ 3,199.50$ \r\n \r\n3,367.68 \r\n \r\n332,788.50 \r\n \r\n361,534.85 \r\n \r\n10,223.10 \r\n \r\n10,645.17 \r\n \r\n$ 459,839.70$ 506,634.24$ \r\n \r\n0.00 \r\n \r\n$ 13,422.60$ 14,012.85$ \r\n \r\n0.00 \r\n \r\n177,189.30 \r\n \r\n217,396.56 \r\n \r\n0.00 \r\n \r\n5,239.80 \r\n \r\n7,369.28 \r\n \r\n0.00 \r\n \r\n318,327.30 \r\n \r\n364,952.21 \r\n \r\n0.00 \r\n \r\n9,105.30 \r\n \r\n15,770.02 \r\n \r\n0.00 \r\n \r\n222,028.20 \r\n \r\n239,803.18 \r\n \r\n0.00 \r\n \r\n9,561.60 \r\n \r\n27,808.44 \r\n \r\n0.00 \r\n \r\n78,439.50 \r\n \r\n82,959.91 \r\n \r\n0.00 \r\n \r\n3,364.20 \r\n \r\n3,419.98 \r\n \r\n0.00 \r\n \r\n114,921.00 \r\n \r\n114,969.40 \r\n \r\n0.00 \r\n \r\n16,029.90 \r\n \r\n20,091.62 \r\n \r\n0.00 \r\n \r\n$1,370,745.00$ 1,526,715.50 $ \r\n \r\n0.00 \r\n \r\n$ 56,723.40$ 88,472.19 $ \r\n \r\n0.00 \r\n \r\n$ 3,861.00 $ 95,028.30 129,715.20 822.60 1,602.00 \r\n \r\n43,606.00 111,707.69 88,282.91 \r\n \r\n$ \r\n \r\n184.50 $ \r\n \r\n1,899.00 \r\n \r\n3,296.70 \r\n \r\n203.28 3,330.44 1,930.68 \r\n \r\n$ 231,029.10$ 243,596.60$ \r\n \r\n0.00 \r\n \r\n$ 5,380.20$ \r\n \r\n5,464.40$ \r\n \r\n0.00 \r\n \r\n25,737.30 \r\n \r\n33,925.34 $ \r\n \r\n0.00 \r\n \r\n684.00 \r\n \r\n794.57 $ \r\n \r\n0.00 \r\n \r\n$ 256,766.40$ 277,521.94 \r\n \r\n$ 6,064.20$ \r\n \r\n6,258.97 \r\n \r\n$ 39.092.40 $ \r\n \r\n54,482.32$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n657.90 $ \r\n \r\n799.95 $ \r\n \r\n0.00 \r\n \r\n$ 47,591.10 $ \r\n \r\n58,032.39 $ \r\n \r\n0.00 \r\n \r\n$ 13,420.80$ 13,962.41 $ \r\n \r\n0.00 \r\n \r\n$1,714,194.90$ 1,916,752.15$ \r\n \r\n0.00 \r\n \r\n$ 76,866.30 $ 109,493.52$ \r\n \r\n0.00 \r\n \r\n$ 1,714,194.90 $ 1,916,752.15 $=====o=.o=o \r\n \r\n$ 7,595.25$ 14,683.75 \r\n \r\n11,800.00 $ 10,478.34 \r\n \r\n0.00 4,205.41 \r\n \r\n$ 22,279.00$ 22 I 278. 34 $.====:::i4i:::!::12:0::5::::::4.::::1 \r\n \r\n$ 99,145.30 $ 131,771.86 $=====4=,2=0=5=.4=1 \r\n \r\n- 35 - \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \r\nYEAR ENDED JUNE 30, 1994 \r\n \r\nSCHEDULE \"10\" \r\n \r\nBOARD MEMBER ADDRESS \r\nSTEWART COUNTY BOARD MEMBERS \r\nMr. Eugene Baldwin, Chairman(*) P. 0. Box 757 Lumpkin, Georgia 31815 \r\nMs. Joan Flowers(*) Route 1, Box 38-B Lumpkin, Georgia 31815 \r\nMs. Janice French(*) 785 Wall Street Richland, Georgia 31825 \r\nMr. Bill Lee(*) P. 0. Box 22 Lumpkin, Georgia 31821 \r\nMr. David White(*) General Delivery Louvale, Georgia 31814 \r\nQUITMAN COUNTY BOARD MEMBERS \r\nMr. Willie Anderson(*) Route 2, Box 74 Georgetown, Georgia 31754 \r\nMr. Willie Bussey(*) Route 1, Box 32 Morris, Georgia 31767 \r\nMr. Loyd Lewis(*) Route 2, Box 236 Georgetown, Georgia 31754 \r\nMs. Eva Massey(*) Route 2, Box 251 Georgetown, Georgia 31754 \r\nMr. C. P. Redding(*) P. 0. Box'336 Georgetown, Georgia 31754 \r\n \r\nCOMPENSATION \r\n \r\nTRAVEL \r\n \r\n$ 1,700.00$ 1,550.00 1,450.00 1,300.00 1,500.00 \r\n \r\n422.17 27.30 31.50 \r\n133.86 16.80 \r\n \r\n250.00 \r\n \r\n50.00 \r\n \r\n100.00 \r\n \r\n$ 7,900.00$ \r\n============= \r\nStewart and Quitman Counties operate a consolidated high school located in Stewart County. Members of the Quitman County Board of Education are paid per diem for each meeting of the Stewart County Board of Education that they attend. \r\n(*) Denotes Board Members Serving as of June 30, 1994 \r\n \r\n631.63 \r\n \r\nSee notes to the general purpose financial statements. - 36 - \r\n \r\n SECTIOND 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 17, 1995 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Stewart 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 ofthe Stewart County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 17, 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 perform 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 Stewart County Board ofEducation 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 Stewart County Board ofEducation \r\ncomplied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to \r\nitems 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\nCLV:gp 94CRL-10 \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\nMarch 17, 1995 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Stewart 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 Stewart County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 17, 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\nWe have applied procedures to test the Stewart County Board ofEducation'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, 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 ofState and Local Governments\" and other additional procedures as deemed necessary. Our procedures were substantially less in scope than an audit, the objective ofwhich is the expression of an opinion on the Board's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. \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 ofthis report. With respect to items not tested, nothing came to our attention that caused us to believe that the Stewart County Board ofEducation had not complied, in all material respects, with those requirements. However, the results of our procedures disclosed an immaterial instance ofnoncompliance with those requirements, which is described in the Schedule 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\nCLV:gp 94CRL-50 \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\nMarch 17, 1995 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Stewart County Board ofEducation \r\n \r\nSINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\n \r\nLadies and Gentlemen: \r\n \r\nWe have audited the general purpose financial statements ofthe Stewart County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 17, 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\nWe have also audited the Stewart County Board ofEducation's compliance with the requirements governing: \r\n \r\n(1) Types of Services Allowed or Unallowed \r\n \r\n(5) Applicable Special Tests and Provisions \r\n \r\n(2) Eligibility \r\n(3) Matching, Level ofEffort, and/or Earmarking \r\n \r\n(6) Other Requirement Claims for Advances and Reimbursements \r\n \r\n(4) Reporting \r\n \r\nThese requirements are applicable to the major Federal financial assistance program, which is identified in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1994. The management ofthe Stewart County Board of Education is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit \r\n \r\n94CRL-80 \r\n \r\n We conducted our audit ofcompliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and Office ofManagement and Budget (0MB) Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Board's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion. \r\nIn our opinion, the Stewart County Board of Education complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance program for the year ended June 30, 1994. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other \r\nFederal grantor agencies. This restriction is not intended to limit the distribution of this report which is a \r\nmatter of public record.. \r\nRespectfully submitted, \r\n17~~ \r\nClaude L. Vickers State Auditor \r\nCLV:gp 94CRL-80 \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 17, 1995 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Stewart 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 ofthe Stewart County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 17, 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 of the Stewart 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 A- \r\n128, \"Audits ofState 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, \r\nwe have performed auditing procedures on the selected transactions to test compliance with the requirements governing: \r\n \r\n(1) 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 Stewart 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 \r\ncame to our attention that caused us to believe that the Stewart County Board ofEducation had not complied, \r\nin 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 ofpublic record. \r\nRespectfully submitted, \r\n \r\nCLV:gp 94CRL-120 \r\n \r\nClaude L. Vickers State Auditor \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 17, 1995 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Stewart 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 ofthe Stewart County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 17, 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 ofmaterial misstatement. \r\nIn planning and performing our audit ofthe general purpose financial statements ofthe Stewart 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 of the Stewart County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives ofan internal control structure are to provide management with reasonable, but not absolute, \r\nassurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions \r\nare 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 ofthe design and operation ofpolicies 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(1) 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 ofthe design of relevant \r\npolicies 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(1) 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 ofthe 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 perfonned in our audit ofthe Stewart County Board ofEducation's financial statements and this report does not affect our report thereon dated March 17, 1995. \r\nThis report is intended for the infonnation of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \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 17, 1995 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members of the Stewart 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 ofthe Stewart County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated March 17, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We have also audited the Stewart County Board of Education's compliance with requirements applicable to the major Federal financial assistance program and have issued our opinion thereon dated March 17, 1995. \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 Stewart County Board ofEducation complied with laws and regulations, noncompliance with which would be material to a major 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 on its compliance with requirements applicable to its major Federal financial assistance program 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 ofthe general purpose financial statements in a separate report dated March 17, 1995. \r\n94ICL-7 \r\n \r\n The management of the Stewart County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives ofan 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 ofany evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness ofthe design and operation ofpolicies and procedures may deteriorate. \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 REOUIREl\\.IBNTS \r\n \r\nSPECIFIC REOUIREl\\.IBNTS \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 of the 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 Stewart County Board of Education expended 52% of its total Federal financial assistance under one major Federal financial assistance program. \r\n \r\nWe performed tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements and specific requirements, as described above that are applicable to the Board's major Federal financial assistance program, which is \r\n \r\n94ICL-7 \r\n \r\n identified in the Schedule ofFederal Financial Assistance. Our procedures were less in scope than would be necessmy 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 described 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 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 ofperforming 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 condition was considered in determining the nature, timing, and extent ofthe procedures to be performed in our audit ofthe Stewart County Board ofEducation's compliance with requirements applicable to its major Federal financial assistance programs for the year ended June 30, 1994, and this report does not affect our report thereon dated March 17, 1995. \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 of this report which is a matter of public record. \r\nRespectfully submitted, / \r\ntf\"~,,,,~ \r\nClaude L. Vickers State Auditor \r\nCLV:gp 94ICL-7 \r\n \r\n SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1994 \r\nPRIOR YEAR \r\nAUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $1,957.50 Audit Control Number 7281-93-04 \r\nThe audit report for the year ended June 30, 1993, disclosed that the Staff Development - Professional Development Program had an underexpenditure ofQuality Basic Education (QBE) funds of $1,957.50 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 of Education to refund this underexpenditure as required. The underexpenditure of $1,957.50 should be returned to the Georgia Department of Education through an increase in the Board's local fair share for QBE programs in a subsequent fiscal year. \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 7281-93-02 \r\nThe audit report for the year ended June 30, 1993, stated that the Board did not provide for adequate separation of employee duties in the performance of accounting functions and related procedures. This deficiency was a result ofmanagement's decision to limit the number of administrative staff made responsible \r\nfor accounting functions. Management should periodically review this decision to determine if employee duties \r\ncan be reassigned to achieve a higher degree ofinternal control with existing staff. For the year under review, our audit noted no improvement regarding adequate separation of employee duties. \r\nNote: All Federal financial assistance programs listed in the Schedule of Federal Financial Assistance, Schedule 111 11 of this report are affected by this finding. \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 7281-93-03 \r\nThe audit report for the year ended June 30, 1993, noted that the management of the Stewart County Board \r\nofEducation had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal \r\naccounting 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 \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1994 \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 7281-93-03 \r\naccordance with generally accepted accounting principals. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory of land, buildings and equipment owned by the Board and should include, but may not be limited to date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. \r\nCURRENT YEAR \r\nEXPENDITURES/LIABILITIES/DISBURSEMENTS Improper Expenditure Financial Statements Nonmaterial Noncompliance Amount: $1,600.00 Audit Control Number 7281-94-01 \r\nIn the year under review, an expenditure of$1,600.00 was made from the Board's General Fund for a senior class graduating trip. This expenditure occurred because the Board believed that without school funds, many students of the senior class would not have the opportunity to participate in a senior trip due to economic reasons. The Office Code of Georgia Annotated Section 20-2-411 provides, in part, as follows: \r\n\"...school funds shall be used for educational purposes and may be used to pay the salaries of personnel and to pay for the utilization of school facilities, including school buses; for extracurricular and interscholastic activities, including literary events, music, and athletic programs within individual schools and between schools in the same or different school systems when such activities are sponsored by local boards of education as an integral part of the total school program; and for no other purpose. . .\". \r\nAn expenditure ofthis nature is considered to be beyond the customary scope of expenditures for \"educational purposes\". Appropriate action should be taken by the Board to secure reimbursement of the $1,600.00 for deposit to the Board's General Fund. \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1994 \r\nCURRENT YEAR \r\nEXPENDITURES/LIABil.ITIES/DISBURSEMENTS Failure to Meet Expenditure Requirements Financial Statements Nonmaterial Noncompliance Amount: $4,205.41 Audit Control Number 7281-94-02 \r\nFor the year under review, the Board ofEducation reported to the Georgia Department ofEducation on DE form 0420 \"General Fund QBE Program Expenditure Summary\" expenditures totaling $11,800.00 for the Staff Development - Cost oflnstruction Program. A review ofthe underlying source documentation for the Quality Basic Education (QBE) Program disclosed that the Board expended more than 15 percent of its initial allotment offunds for Professional Development Stipends for StaffDevelopment - Cost ofInstruction Program purposes resulting in an underexpenditure of$4,205.41 for the minimum required allotment of$14,683.75 for the StaffDevelopment - Professional Development Stipends Program. \r\nThis questioned cost resulted from management's reliance on incorrect information received from the Georgia Department ofEducation, resulting in a violation ofOfficial Code ofGeorgia 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 period. \r\nEMPLOYEE COMPENSATION Salary Overpayment Financial Statements Nonmaterial Noncompliance Amount: $1,982.20 Audit Control Number 7281-94-03 \r\nFor the year under review, our audit noted that an employee was overpaid in the amount of $1,982.20 according to the terms ofthe individual's contract. This overpayment was a result ofthe employee receiving a salary advance, which subsequently, was never collected through appropriate payroll deductions. The granting of salary advances constitute interest-free loans which are considered gratuities and are prohibited by Article III, Section VI, Paragraph VI ofthe Constitution ofthe State of Georgia. Reimbursement should be secured for deposit to the Board's General Fund. \r\n \r\n STEWART COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1994 \r\n \r\nCURRENT YEAR \r\n \r\nAUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Nonmaterial Noncompliance Audit Control Number 7281-94-04 \r\n \r\nThe Board failed to submit a copy ofthe 1993 audit report on a timely basis to various agencies that were the sources ofFederal Financial Assistance. The agencies are as follows: \r\n \r\nOffice of the Governor Columbus, Georgia Consolidated \r\nGovernment \r\n \r\nIn-School Probation Program (CFDA 16.540) Job Training Partnership Act Program \r\n(CFDA 17.250) \r\n \r\nParagraph 13f of 0MB Circular A-128 requires that recipients of Federal financial assistance submit copies ofsingle audit reports to those agencies providing Federal financial assistance, within 30 days after receiving the audit report. The management ofthe Board stated they were unaware ofthe time distribution requirements even though formally notified in writing of these report distribution responsibilities by the Department of Audits. \r\n \r\nProcedures should be implemented by the Board to ensure that reports are submitted to granter agencies in accordance with audit distribution requirements. \r\n \r\n SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\n \r\n STEWART COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\nYEAR ENDED JUNE 30, 1994 \r\nACCOUNTING CONTROLS (OVERALL) - Financial Statements ADMINISTRATIVE REQUIREMENTS - Federal Financial Assistance Inadequate Separation ofDuties Reportable Condition - Material Weakness Audit Control Number 7281-93-02 \r\nWe concur with this finding, however due to current budgetary constraints, .the Board is unable to hire the additional staff required to clear this finding. The Board feels it has provided for the most appropriate assignment ofduties with the number of personnel available to perform the accounting functions. With staff limitations, this finding cannot be totally resolved. \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition -Material Weakness Audit Control Number 7281-93-03 \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\nEXPENDITURES/LIABILITIES/DISBURSEMENTS Improper Expenditure Financial Statements Nonmaterial Noncompliance Amount: $1,600.00 Audit Control Number 7281-94-0 I \r\nWe concur with this finding, however, the Board members strongly feel that the expenditure was necessary due to the poverty level of the children we serve. The system discontinued this annual expenditure as of this date. \r\nEXPENDITURES/LIABILITIES/DISBURSEMENTS Failure to Meet Expenditure Requirements Financial Statements Nonmaterial Nonc~mpliance Amount: $4,205.41 Audit Control Number 7281-94-02 \r\nWe concur with this finding. This finding will be resolved by the Georgia Department ofEducation through a future increase in Board's local fair share portion of QBE Allotments. \r\n \r\n STEWART COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS \r\nYEAR ENDED ~TE 30, 1994 \r\nEMPLOYEE COMPENSATION Salary Overpayment Financial Statements Nonmaterial Noncompliance Amount: $1,982.20 Audit Control Number 7281-94-03 \r\nWe concur with this finding. This finding will be resolved through monthly salary deductions from the employee, with complete and total restitution by August 31, 1995. \r\nNote: The Stewart County Board ofEducation has elected not to provide comments for inclusion in this report other than the above. \r\n \r\n "}],"pages":{"current_page":2,"next_page":null,"prev_page":1,"total_pages":2,"limit_value":10,"offset_value":10,"total_count":15,"first_page?":false,"last_page?":true},"facets":[{"name":"type_facet","items":[{"value":"Text","hits":15}],"options":{"sort":"count","limit":16,"offset":0,"prefix":null}},{"name":"creator_facet","items":[{"value":"Georgia. 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