{"response":{"docs":[{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1998-h99","title":"Audit report, Tift County Board of Education, Tifton, Georgia, year ended June 30, 1999","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits.","Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Tift County, 31.45744, -83.52659"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1999-06-30"],"dcterms_description":["-year ended June 30, 1999.","Report year covers fiscal year.","Issued by the Georgia Dept. of Audits and Accounts, year ended June 30, 1996-year ended June 30, 1999","Has supplements: Supplementary information, Tift County Board of Education, Tifton, Georgia, summary and schedule of salaries and travel, -year ended June 30, 1998; Tift County Board of Education, Tifton, Georgia, schedule of salaries and travel, year ended June 30, 1999.","Year ended June 30, 1994 (online surrogate); title from PDF cover (Georgia Government Publications database, viewed July 20, 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":["Tift County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Tift County--Auditing--Periodicals.","Education--Georgia--Tift County--Finance--Statistics--Periodicals.","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Tift County Board of Education, Tifton, Georgia, year ended June 30, 1999"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1998-h99"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1998-h99"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"l:n /1 \r\nA800  RI 2.b \r\n-rs- \r\n\\998-qq \r\nAUDIT REPORT TIFT COUNTY BOARD OF EDUCATION \r\nTIFTON, GEORGIA YEAR ENDED JUNE 30, 1999 \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 WASHINGTON STREET ATLANTA, GEORGIA 30334-8400 \r\n \r\n TIFT COUNTY BOARD OF EDUCATION -TABLE OF CONTENTS- \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\nEXHIBITS \r\n \r\nGENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nCOMBINED STATEMENTS-OVERVIEW \r\n \r\nA \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\nALL FUND TYPES AND ACCOUNT GROUP \r\n \r\n2 \r\n \r\nB \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nALL GOVERNMENTAL FUND TYPES \r\n \r\n4 \r\n \r\nC \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\n(NON-GAAP BASIS) \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n6 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n7 \r\n \r\nADDIDONAL 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\n19 \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nG \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n20 \r\n \r\nH \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n22 \r\n \r\nDEBT SERVICE FUND \r\n \r\nI \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n24 \r\n \r\nJ \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n25 \r\n \r\nSCHEDULES \r\n \r\n1 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\n26 \r\n \r\n2 SCHEDULE OF STATE REVENUE \r\n \r\n28 \r\n \r\n3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\n \r\n29 \r\n \r\n TIFT COUNTY BOARD OF EDUCATION -TABLE OF CONTENTS- \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nADDITTONAL FINANCIAL INFORMATION \r\n \r\nSCHEDULES \r\n \r\n4 SCHEDULEOFEXPENDITURES \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\n5 \r\n \r\nOVERALL \r\n \r\n31 \r\n \r\n6 \r\n \r\nBYPROGRAM \r\n \r\n32 \r\n \r\nSECTION II \r\nCOMPLIANCE AND INTERNAL CONTROL REPORTS \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH \r\nGOVERNMENT AUDITING STANDARDS \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH 0MB CIRCULAR A-133 \r\n \r\nSECTION ID AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\nSECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\n \r\n SECTION I FINANCIAL \r\n \r\n w. RUSSELL HINTON STATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W, Suite 2 I4 Atlanta, Georgia 30334-8400 \r\nMay 18, 2000 \r\n \r\nHonorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the Tift County Board of Education \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE \r\nFINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION - \r\nSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nLadies and Gentlemen: \r\nWe have audited the accompanying general purpose financial statements of the Tift County Board of Education, as of and for the year ended June 30, 1999, as listed in the table of contents. These general purpose financial statements are the responsibility ofthe Tift County Board ofEducation's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. \r\nExcept as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General 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\nWe did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1999, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. \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\n99ARL-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 \r\nfinancial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. \r\n* The Board did not recognize as expenditures, in the year ended June 30, 1999, a portion of salaries \r\nand the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1999. Also funds received, subsequent to June 30, 1999, from the Georgia Department of Education for the State's share ofthese unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1998, were improperly recorded in the year ended June 30, 1999. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \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\nfu our opinion, except for the effects of such adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and 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 Tift County Board of Education as of June 30, 1999, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. \r\nfu accordance with Government Auditing Standards, we have also issued our report dated May 18, 2000, on our consideration of the Tift County Board of Education's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. \r\nOur audit was performed for the purpose of forming an opinion on the general purpose financial statements ofthe Tift County Board ofEducation taken as a whole. The accompanying combining statements (Exhibits E through J) and the financial schedules (Schedules 1 through 6), which includes the Schedule of \r\nExpenditures of Federal Awards as required by U:- S. Office of Management and Budget Circular A-133, \r\nAudits ofStates, Local Governments, and Non-Profit Organizations, are presented for purposes of additional analysis and are not a required part of the general purpose financial statements. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and in our opinion, except for the effect of adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects of the matters referred to in the fourth paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. \r\n99ARL-13 \r\n \r\n A copy of this report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \r\nRespectfully submitted, \r\nC::...az ~- \u003ctt. ~ e l l W. Hinton State Auditor \r\nRWH:gp 99ARL-13 \r\n \r\n TIFTCOUNTYBOARDOFEDUCATION \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET \r\nALL FUND TYPES AND ACCOUNT GROUP JUNE 30. 1999 \r\n \r\nASSETS \r\nCash and Cash Equivalents \r\nInvestments \r\nAccounts Receivable \r\nPrepaid Items \r\nInventories Food Donated Commodities Purchased Food \r\nAmount to be Provided in Future Years For Payment of Bond Debt \r\n \r\nGENERAL FUND \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\n$ 2,517,872.47 $ \r\n \r\n598,229.97 $ \r\n \r\n186,332.34 \r\n \r\n313.83 \r\n \r\n4,979,562.30 \r\n \r\n250,973.97 \r\n \r\n560,028.57 \r\n \r\n878,684.84 \r\n \r\n11,000.00 \r\n \r\n44,159.29 15,888.56 \r\n \r\nTotal Assets \r\n \r\n$ 2.780, 160.27 $ 1,218,306.39 $ 6,044,579.48 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Notes Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue General Obligation Bonds Payable \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Continuation of Federal Programs For Homeless Project For Inventories Food Donated Commodities Purchased Food For Purpose of Bond Issue For SPLOST Projects For State Capital Outlay Projects Unreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ \r\n \r\n260,406.24 $ \r\n \r\n80,352.42 $ \r\n \r\n24,123.60 \r\n \r\n332,502.14 \r\n \r\n1,200,000.00 \r\n \r\n19,134.08 \r\n \r\n20,024.61 \r\n \r\n$ \r\n \r\n279,540.32 $ \r\n \r\n432,879.17 $ 1,224,123.60 \r\n \r\n$ \r\n \r\n2,748.67 \r\n \r\n44,159.29 15,888.56 \r\n$ \r\n \r\n7,688.45 4,796,471.91 \r\n \r\n$ 2,500,619.95 $ 2,500,619.95 $ \r\n \r\n722,630.70 \r\n785,427.22 $ \r\n \r\n16,295.52 4,820,455.88 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 2,780,160.27 $ 1.218.306.39 $ \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\n6,044,579.48 \r\n \r\n EXHIBIT\"A\" \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\n$ \r\n \r\n397.14 \r\n \r\nACCOUNT GROUP GENERAL \r\nLONG-TERM DEBT \r\n \r\nTOTALS \r\n \r\n{Memorandum Only) \r\n \r\nJUNE 30, 1999 \r\n \r\nJUNE 301 1998 \r\n \r\n$ 3,302,434.78 $ 2,175,412.13 \r\n \r\n4,979,876.13 \r\n \r\n10,296,221.15 \r\n \r\n1,690,084.52 \r\n \r\n3,306,856.19 \r\n \r\n11,000.00 \r\n \r\n6,405.00 \r\n \r\n$ 13,515,000.00 \r\n \r\n44,159.29 15,888.56 \r\n13,515,000.00 \r\n \r\n62,383.08 14,127.77 \r\n14,605,000.00 \r\n \r\n$ \r\n \r\n397.14 $ 131515,000.00 $ 23,558,443.28 $ 301466,405.32 \r\n \r\n$ \r\n \r\n397.14 \r\n \r\n$ \r\n \r\n397.14 $ \r\n \r\n2,131.96 \r\n \r\n364,882.26 \r\n \r\n425,322.74 \r\n \r\n332,502.14 \r\n \r\n342,230.80 \r\n \r\n1,200,000.00 \r\n \r\n2,000,000.00 \r\n \r\n39,158.69 \r\n \r\n26,483.39 \r\n \r\n1,194,995.34 \r\n \r\n473,349.13 \r\n \r\n1,370.02 \r\n \r\n$ 13,515,000.00 \r\n \r\n13,515,000.00 \r\n \r\n14,605,000.00 \r\n \r\n$ \r\n \r\n397.14 $ 13,515,000.00 $ 15,451,940.23 $ 19,070,883.38 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n6,672.28 \r\n \r\n$ \r\n \r\n2,748.67 \r\n \r\n6,763.69 \r\n \r\n44,159.29 15,888.56 \r\n7,688.45 4,796,471.91 \r\n \r\n62,383.08 14,127.77 3,345,148.77 2,411,645.86 1,539,489.92 \r\n \r\n3,239,546.17 \r\n \r\n4,009,290.57 \r\n \r\n$ 8,106,503.05 $ 11,395,521.94 \r\n \r\n$ \r\n \r\n397.14 $ 13,5151000.00 $ 23,558,443.28 $ 30,466,405.32 \r\n \r\n-3- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1999 \r\n \r\nREVENUES \r\nState Funds Federal Funds Taxes Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enterprise Operations Community Services Operations \r\nCapital Outlay Debt Service \r\nPrincipal Interest Paying Agent Fees \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCIN~ OURCES (USES} \r\nAccrued Interest on Bonds Sold Pr9C9eds from General Obligation Bonds \r\nPar Value Operating Transfers In Operating Transfers Out \r\nTotal Other Financing Sources (Uses) \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JULY 1 \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\n$ 28,067,141.68 $ \r\n7,994,642.62 690 701.10 \r\n$ 36,752,485.40 $ \r\n \r\n834,513.23 4,158,078.40 \r\n482,659.61 \r\n5,475,251.24 \r\n \r\n$ 25,096,781.85 $ \r\n2,280,796.81 1,182,756.96 1, 193,836.32 \r\n384,183.38 2,883,523.59 \r\n151,510.67 2,691,330.47 1,347,964.78 \r\n198,907.16 31,887.22 \r\n32,693.00 60,748.49 10,255.00 \r\n \r\n2,347,755.58 \r\n172,864.86 312,664.41 \r\n37,386.42 240,387.79 \r\n7,973.77 11,047.82 \r\n49,669.76 2,544,874.98 \r\n \r\n$ 37,547,175.70 $ \r\n \r\n$ \r\n \r\n-794,690.30 $ \r\n \r\n5,724,625.39 -249,374.15 \r\n \r\n$ \r\n \r\n499,900.00 $ \r\n \r\n111,103.37 \r\n \r\n-111, 103.37 \r\n \r\n-124,050.00 \r\n \r\n$ \r\n \r\n388,796.63 $ \r\n \r\n-12,946.63 \r\n \r\n$ \r\n \r\n-405,893.67 $ \r\n \r\n-262,320.78 \r\n \r\n2,906,513.62 \r\n \r\n1,064,211.00 \r\n \r\n-18,223.79 1 760.79 \r\n \r\nFUND BALANCE JUNE 30 \r\nThe notes to the general purpose financial statements are an integral part of this statement. -4- \r\n \r\n$ 2,500,619.95 $ \r\n \r\n785,427.22 \r\n \r\n EXHIBIT\"B\" \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTALS \r\n \r\n{Memorandum Only) \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 1999 \r\n \r\nJUNE 30, 1998 \r\n \r\n$ 1,087,054.12 \r\n \r\n$ 29,988,709.03 $ 29,189,595.07 \r\n \r\n4,158,078.40 \r\n \r\n4,069,614.69 \r\n \r\n3,755,487.26 $ 1,748,416.20 \r\n \r\n13,498,546.08 \r\n \r\n12,112,558.24 \r\n \r\n154,302.24 \r\n \r\n120 841.43 \r\n \r\n1,448,504.38 \r\n \r\n1,679,159.16 \r\n \r\n$ 4,996,843.62 $ 1,869,257.63 $ 49,093,837.89 $ 47,050,927.16 \r\n \r\n$ \r\n \r\n66,611.11 \r\n \r\n7,158,723.95 $ \r\n$ 7,225,335.06 $ $ -2,228,491.44 $ \r\n \r\n$ 27,444,5.37.43 $ 24,444,430.53 \r\n \r\n2,453,661.67 1,495,421.37 1,231,222.74 \r\n624,571.17 2,883,523.59 \r\n218,121.78 2,699,304.24 1,359,012.60 \r\n198,907.16 81,556.98 2,544,874.98 32,693.00 60,748.49 7,168,978.95 \r\n \r\n1,991,339.07 1,209,834.78 \r\n951,867.59 748,677.05 2,651,948.41 254,561.31 2,544,429.83 1,293,764.99 141,506.02 \r\n73,568.73 2,513,090.97 \r\n13,114,283.86 \r\n \r\n1,090,000.00 773,876.43 5,381.20 \r\n \r\n1,090,000.00 773,876.43 51381.20 \r\n \r\n1,270,897.41 653,175.09 886.04 \r\n \r\n1,869,257.63 $ 52,366,393.78 $ 53,858,261.68 \r\n \r\n0.00 $ -3,272,555.89 $ -6,807,334.52 \r\n \r\n$ \r\n \r\n124,050.00 \r\n \r\n-499,900.00 $ \r\n \r\n$ -375,850.00 $ \r\n \r\n$ -2,604,341.44 $ 7,424,797.32 \r\n \r\n$ 0.00 \r\n0.00 $ \r\n \r\n$ \r\n735,053.37 -735,053.37 \r\n0.00 $ \r\n \r\n9,717.74 \r\n5,000,000.00 120,091.58 -120,091.58 \r\n5,009,717.74 \r\n \r\n0.00 $ 0.00 \r\n \r\n-3,272,555.89 $ 11,395,521.94 \r\n \r\n-1,797,616.78 13,162,979.28 \r\n \r\n-18,223.79 1,760.79 \r\n \r\n28,826.76 1,332.68 \r\n \r\n$ 4,820,455.88 $ \r\n \r\n0.00 $ 8,106,503.05 $ 11,395,521.94 -5- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES \r\nBUDGET AND ACTUAL - (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS \r\nYEAR ENDED JUNE 30. 1999 \r\n \r\nEXHIBIT \"C\" \r\n \r\nREVENUES \r\nState Funds Federal Funds Taxes Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enterprise Operations Community Services Operations \r\nCapital Outlay \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANQING 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, 1998 \r\nAdjustments Food Inventory - Net Change In Period \r\nDonated Commodities Purchased Food \r\n \r\nGENERAL FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\n$ 27.351,414.47 $ 28,067,141.68 \r\n \r\n600.00 \r\n \r\n7,866,220.00 7,994,642.62 \r\n \r\n330,000.00 \r\n \r\n690,701.10 \r\n \r\n$ 35,548,234.47 $ 36,752,485.40 \r\n \r\n$ 24,945,895.00 $ 25,096,781.85 \r\n \r\n2,171,755.00 1,237,841.00 1, 188,200.00 \r\n407,858.00 2,868,527.00 \r\n180,600.00 2,941,000.00 1,419,900.00 \r\n196,300.00 28,500.00 \r\n \r\n2,280,796.81 1,182,756.96 1, 193,836.32 \r\n384,183.38 2,883,523.59 \r\n151,510.67 2,691,330.47 1,347,964.78 \r\n198,907.16 31,887.22 \r\n \r\n59,910.00 15,000.00 \r\n \r\n32,693.00 60,748.49 101255.oo \r\n \r\n$ 37,661,286.00 $ 37,547,175.70 \r\n \r\n$ -2,113,051.53 $ -794,690.30 \r\n \r\n$ 499,900.00 -111.103.37 \r\n$ 388.796.63 \r\n \r\n$ -2, 113,051.53 $ -405,893.67 \r\n \r\n2,831,844.43 \r\n \r\n2,906,513.62 \r\n \r\n-47,033.52 \r\n \r\nFUND BALANCE J!JNE 30 1999 \r\n \r\n$ 671,759.38 $ 2,500,619.95 \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$ 758,454.17 $ 834,513.23 3,720,330.92 4,158,078.40 \r\n \r\n573,200.00 \r\n \r\n482,659.61 \r\n \r\n$ 5,051,985.09 $ 5,475,251.24 \r\n \r\n$ 2,311,907.09 $ 2,347,755.58 \r\n \r\n169,775.00 333,567.00 \r\n37,388.00 243,852.00 \r\n \r\n172,864.86 312,664.41 \r\n37,386.42 240,387.79 \r\n \r\n29,356.00 \r\n62,642.00 2,274,600.00 \r\n \r\n7,973.TT 11,047.82 \r\n49,669.76 2,544,874.98 \r\n \r\n$ 5,463,087.09 $ 5,724,625.39 $ -411,102.00 $ -249,374.15 \r\n$ 111,103.37 -124,050.00 \r\n$ -12,946.63 \r\n$ -411,102.00 $ -262,320.78 1,414,052.62 1,064,211.00 -92,351.95 -18,223.79 1,760.79 \r\n$ 910,598.67 $ 785,427.22 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -6- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1999 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nREPORTING ENTITY \r\nThe Tift County Board of Education (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the Board is a primary government and consists of all the organizations that compose its legal entity. \r\nFUND ACCOUNTING \r\nThe Board uses funds and an account group to report on its :financial position and the results ofits operations. Fund accounting is designed to demonstrate legal compliance and to aid :financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \r\nGeneral Fixed Assets are recorded as expenditures in the various funds at the time ofpurchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \r\nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \r\nThe general purpose financial statements account for all State, Federal, Taxes and Other funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, \r\nunless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \r\nGOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's educational activities. Governmental Fund Types include: \r\nGENERAL FUND - the fund used to account for all financial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. \r\nSPECIAL REVENUE FUND - the fund used to account for the proceeds ofspecific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are received primarily from the Georgia Department ofEducation and from the Federal government to accomplish specific educational objectives. \r\n-7- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1999 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nCAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. \r\nDEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees. \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for general obligation debt outstanding. \r\nBASIS OF ACCOUNTING \r\nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus; only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. \r\nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \r\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, local option sales taxes, intergovernmental grants and investment income. \r\nExpenditures are generally recognized when the related fund liability is incurred. \r\nA departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share of these contracts. During fiscal year 1999, a substantial number of personnel ofthe Board were employed for a one hundred and ninety day period beginning in late August 1998 and ending in early June 1999. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1998 and ending in August 1999. State grants to fund the State's share ofthese contracts were disbursed from the Georgia Department ofEducation to the Board in the same twelve months. As of June 30, 1999, compensation under these employment \r\n-8- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 1999 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\ncontracts had been earned, but two of the twelve monthly payments, due for July and August 1999, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1999. Also, the State's portion of the compensation paid in July and August 1999 was received and recorded as revenue in the fiscal year subsequent to June 30, 1999. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1998, were recorded in the year ended June 30, 1999. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when finlds are received or disbursed. \r\nBUDGET \r\nThe Tift County Board of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level ofbudget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. \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 of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. \r\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. \r\nINVESTMENTS \r\nCOMPOSITION OF INVESTMENTS Investments made by the Board in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase of one year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to \r\n-9- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1999 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\ninvest its funds. In selecting among options for investment or among institutional bids for deposits, the \r\n \r\nhighest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may \r\n \r\nbe invested in the following: \r\n \r\n- \r\n \r\n(1) Obligations issued by the State of Georgia or by other states, \r\n \r\n(2) Obligations issued by the United States government, \r\n \r\n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \r\n \r\n(4) Obligations of any corporation of the United States government, \r\n \r\n(5) Prime banker's acceptances, \r\n \r\n(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services, \r\n \r\n(7) Repurchase agreements, and \r\n \r\n(8) Obligations of other political subdivisions of the State of Georgia. \r\n \r\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 Tift County Board of Commissioners fixed the property tax levy for the 1998 tax year (calendar year) on October 5, 1998 (levy date). Taxes were due on December 20, 1998. The lien date for property taxes was January 1, 1998. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1999. The Tift County Tax Commissioner bills and collects the property taxes for the Board ofEducation, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the Board. \r\n \r\nThe tax millage rate levied for the 1998 tax year (calendar year) for the Tift County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\n-10- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1999 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nSchool Operations SALES TAXES \r\n \r\n=11.75 mills \r\n \r\nSpecial Purpose Local Option Sales Tax is to be used for capital outlay for educational purposes and debt service. Special Purpose Local Option Sales Tax revenue during the fiscal year amounted to $5,495,436.28 and was recorded in the Capital Projects and Debt Service Funds. The State will terminate collection of this tax once an additional $21,500,673.87 has been collected or on June 30, 2002, whichever occurs first. \r\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations 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\nPREPAID ITEMS \r\n \r\nPayments made to vendors for services that will benefit periods subsequent to June 30, 1999, are recorded as prepaid items. \r\n \r\nGENERAL OBLIGATION BONDS \r\n \r\nThe Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond premiums and discounts, as well as issuance costs, are recognized in the financial statements during the year bonds are issued. General obligation bonds are direct obligations and pledge the full faith and credit ofthe government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group. \r\n \r\nINTERFUND TRANSACTIONS \r\n \r\nThe Board has the following types ofinterfund transactions: \r\n \r\nReimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in thereimbursing fund and as reductions of expenditures in the fund that is reimbursed. \r\n \r\n-11 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1999 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nOperating transfers are recorded for all interfund transactions other than reimbursements. \r\n \r\nMEMORANDUM ONLY -TOTAL COLUMNS \r\n \r\nTotal columns on the general purpose financial statements are captioned \"Memorandum Only\" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. \r\n \r\nNote 2: DEPOSITS AND INVESTMENTS \r\n \r\nCOLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value of securities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \r\n \r\nAcceptable security for deposits consists of any one ofor any combination of the following: \r\n \r\n(I) 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(3) Bonds, bills, notes, certificates ofindebtedness or other direct obligations of the United States or of \r\n \r\nthe State of Georgia, \r\n \r\n \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 of the bonds for this purpose, \r\n \r\n(6) Industrial revenue bonds and bonds ofdevelopment authorities created by the laws of the State of Georgia, and \r\n \r\n- 12 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1999 \r\n \r\nNote 2: DEPOSITS AND INVESTMENTS \r\n \r\n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \r\n \r\nCATEGORIZATION OF DEPOSITS At June 30, 1999, the bank balances were $9,271,560.75. The amounts of the total bank balances are classified into three categories of credit risk: \r\n \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in ~e Board's name.) \r\n \r\nThe Board's deposits are classified by risk category at June 30, 1999, as follows: \r\n \r\nRisk Category \r\n \r\nBank Balance \r\n \r\n1 \r\n \r\n$ 344,915.27 \r\n \r\n2 \r\n \r\n8,688,752.12 \r\n \r\n3 \r\n \r\n237,893.36 \r\n \r\nTotal \r\n \r\n$ 9.271.560.75 \r\n \r\nCATEGORIZATION OF.INVESTMENTS At June 30, 1999, the carrying value ofthe Board's total investments was $4,979,876.13 which is materially the same as fair value. This investment consisted entirely of funds invested in the Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services which are not required to be categorized since the Board did not own any specific identifiable securities in the pool. The investment policy ofthe State of Georgia, Office of Treasury and Fiscal Services for the Local Government Investment Pool (Primary Liquidity Portfolio) does not provide for investment in derivatives or similar investments. A description of the Primary Liquidity Portfolio is as follows: \r\n \r\nThe Primary Liquidity Portfolio consists of Georgia Fund 1, which is a combination local and state government investment pool, and Fund 6. Georgia Fund 1 is a stable net asset value investment pool which follows Standard and Poor's criteria for AAAm rated money market funds. However, Georgia Fund 1 operates in a manner consistent with Rule 2a-7 ofthe Investment Company Act of 1940 and is considered to \r\n \r\n- 13 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nJUNE 30, 1999 \r\n \r\nNote 2: DEPOSITS AND INVESTMENTS \r\nbe a 2a-7 like pool. The pool is not registered with the SEC as an investment company. The pool's primary objectives are safety ofcapital, investment income, liquidity and diversification while maintaining principal ($1.00 per share value). Net asset value is calculated weekly to ensure stability. The pool distributes earnings (net of management fees) on a monthly basis and determines participant's shares sold and redeemed based on $1.00 per share. Pooled cash and cash equivalents and investments are reported at cost which approximates fair value. The pool does not issue any legally binding guarantees to support the value of the shares. Participation in the pool is voluntary and deposits consist of funds from local governments; operating and trust funds of Georgia's state agencies, colleges and universities; and current operating funds of the State of Georgia's General Fund. \r\nInvestments in Georgia Fund 1 and Fund 6 are directed toward short-term instruments such as U. S. Treasury \r\nobligations, securities issued or guaranteed as to principal and interest by the U. S. Government or any of its agencies or instrumentalities, banker's acceptances and repurchase agreements. The weighted average maturity of Georgia Fund 1 may not exceed 60 days. Fund 6 maintains a duration of approximately one year. The weighted average maturity for Georgia Fund 1 on June 30, 1999 was 27 days. The average investment duration for Fund 6 on June 30, 1999 was 1.03 years. \r\nNote 3: NON-MONETARY TRANSACTIONS \r\nThe Board receives food commodities from the United States Department ofAgriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \r\nNote 4: RISK MANAGEMENT \r\nThe Board is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster and unemployment compensation. \r\nThe Board has obtained commercial insurance for risk ofloss associated with torts, assets, errors or omissions and job related illness or injuries to employees. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any ofthe past three years. \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\nThe Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the same fund that the employee's salary and benefits were paid. Claims are accounted for with expenditure and liability being reported when it is probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated. \r\n- 14- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1999 \r\n \r\nNote 4: RISK MANAGEMENT \r\n \r\nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \r\n \r\nBeginning of Year Liability \r\n \r\nClaims and Changes in Estimates \r\n \r\nClaims Paid \r\n \r\nEnd ofYear Liability \r\n \r\n1998 \r\n \r\n$ \r\n \r\nO.OQ $ \r\n \r\n3,541.63 $ \r\n \r\n606.00 $ \r\n \r\n2,935.63 \r\n \r\n1999 \r\n \r\n$ \r\n \r\n2,935.gJ $ \r\n \r\n5,648.QQ $ \r\n \r\n2,935.63 $ \r\n \r\n5 648.00 \r\n \r\n. The Board has purchased surety bonds to provide additional insurance covenge as follows: \r\n \r\nPosition Covered \r\n \r\nAmount \r\n \r\nSuperintendent Each Employee \r\n \r\n$ 100,000.00 $ 10,000.00 \r\n \r\nNote 5: GENERAL WNG-TERM DEBT \r\n \r\nGENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are as follows: \r\n \r\nPurpose \r\nGeneral Government - Series 1995 General Government - Series 1997 \r\n \r\nInterest Rates \r\n4.30% - 6.125% 3.70% - 4.35% \r\n \r\nAmount \r\n$10,030,000.00 3,485,000.00 \r\n \r\n$13.515.000.00 \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1999, were as follows: \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\nBalance July 1, 1998 \r\n \r\n$14,605,000.00 \r\n \r\nDeductions Debt Retired \r\nBalance June 30, 1999 \r\n \r\nl,090,000.oo \r\n$13.515.000.00 \r\n \r\n- 15 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1999 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nAt June 30, 1999, payments due by fiscal year which includes principal and interest for these items are as follows: \r\n \r\nFiscal Year Ended June 30 \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\n2000 2001 2002 2003 2004 2005 - 2009 2010-2014 2015 - 2019 \r\nTotal Principal and Interest \r\n \r\n$ 1,877,756.26 1,897,886.26 1,913,686.26 1,935,461.26 977,168.76 4,980,641.30 5,204,437.54 \r\n1,071,862.50 \r\n$19.858.900.14 \r\n \r\nNote 6: LOANS PAYABLE \r\n \r\nAt June 30, 1999, short-term debt (temporary loans) amount to $1,200,000.00 with interest accruing at 3.75 percent. The aggregate amount of temporary loans is limited to 75 percent of the total gross income from taxes collected in the preceding year and all temporary loans must be repaid no later than December 31 ofthe calender year in which the loan was made. \r\n \r\nNote 7: ON-BEHALF PAYMENTS \r\n \r\nThe Board has recognized revenues and expenditures in the amount of$519,209.44 for health insurance and retirement contributions paid on the Board's behalfby the following State Agencies. \r\n \r\nGeorgia Department ofEducation Paid to the State Merit System ofPersonnel Administration For Health Insurance ofNon-Certified Personnel In the amount of$386,327.16 \r\n \r\nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $47,961.28 \r\n \r\n- 16 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1999 \r\n \r\nNote 7: ON-BEHALF PAYMENTS \r\n \r\nOffice of Treasury and Fiscal Services Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost In the amount of $84,921.00 \r\n \r\nNote 8: CONTINGENT LIABILITIES \r\n \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disalloweci under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \r\n \r\nNote 9: RETIREMENT PLANS \r\n \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\n \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS}, which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. \r\n \r\nTRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required by State statute to contribute 5% oftheir gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 11.95% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: \r\n \r\nFiscal Year \r\n1999 1998 1997 \r\n \r\nPercentage Contributed \r\n100% 100% 100% \r\n \r\nRequired Contribution \r\n$ 3,002,697.49 $ 2,697,623.69 $2,515,419.98 \r\n \r\n- 17 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1999 \r\n \r\nEXHIBIT \"E\" \r\n \r\nASSETS Cash and Cash Equivalents Accounts Receivable Prepaid Items Inventories \r\nFood Donated Commodities Purchased Food \r\nTotal Assets \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY \r\n \r\nFEDERAL \r\n \r\nTOTALS \r\n \r\nPROGRAMS PROGRAMS JUNE 30, 1999 JUNE 30, 1998 \r\n \r\n$ 632,992.43 $ 68,768.74 \r\n \r\n$ 701,761.17 $ 870,287.08 \r\n \r\n214,981.38 \r\n \r\n2,862.82 $ 342,184.37 \r\n \r\n560,028.57 \r\n \r\n864,434.10 \r\n \r\n6,405.00 \r\n \r\n44,159.29 15,888.56 \r\n \r\n44,159.29 15,888.56 \r\n \r\n62,383.08 14,127.77 \r\n \r\n$ 908,021.66 $ 71,631.56 $ 342,184.37 $ 1,321,837.59 $ 1,817,637.03 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Continuation of Federal Programs For Homeless Project For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ 12,243.60 $ \r\n113,099.51 \r\n \r\n$ 103,531.20 $ \r\n \r\n16,798.59 \r\n \r\n51,310.23 \r\n \r\n54,832.97 \r\n \r\n164,569.66 \r\n \r\n20,024.61 \r\n \r\n$ 125,343.11 $ 71,631.56 $ 339,435.70 $ \r\n \r\n$ 44,15929 \r\n15,888.56 \r\n722,630.70 $ \r\n$ 782,678.55 $ \r\n \r\n$ 2,748.67 $ \r\n \r\n0.00 \r\n0.00 $ \r\n \r\n0.00 \r\n2,748.67 $ \r\n \r\n103,531.20 $ \r\n80,352.42 332,502.14 \r\n20,024.61 \r\n536,410.37 $ \r\n \r\n299,299.26 91,712.58 \r\n335,930.80 26,483.39 \r\n753,426.03 \r\n \r\n$ \r\n2,748.67 \r\n \r\n6,672.28 6,763.69 \r\n \r\n44,159.29 15,888.56 \r\n \r\n62,383.08 14,127.77 \r\n \r\n722,630.70 \r\n \r\n974,264.18 \r\n \r\n785.427.22 $ 1,064,211.00 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 908,021.66 $ 71,631.56 $ 342,184.37 $ 1,321,837.59 $ 1,817,637.03 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-18- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES \r\nSPECIAL REVENUE FUND YEAR ENDED JUNE 30. 1999 \r\n \r\nEXHIBIT\"F\" \r\n \r\nREVENUES \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nFEDERAL PROGRAMS \r\n \r\nTOTALS YEAR ENDED JUNE 30, 1999 JUNE 30, 1998 \r\n \r\nState Funds Federal Funds Other Funds \r\n \r\n$ 205,584.00 $ 628,929.23 \r\n \r\n$ 834,513.23 $ 800,768.98 \r\n \r\n1,728,357.89 \r\n \r\n$ 2,429,720.51 \r\n \r\n4,158,078.40 \r\n \r\n4,069,614.69 \r\n \r\n482,659.61 \r\n \r\n482,659.61 \r\n \r\n536,984.02 \r\n \r\nTotal Revenues EXPENDITURES \r\n \r\n$ 2,416,601.50 $ 628,929.23 $ 2,429,720.51 $ 5,475,251.24 $ 5,407,367.69 \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services Food Services Operation \r\nCapital Outlay \r\n \r\n$ 513,842.04 $ 1,833,913.54 $ 2,347,755.58 $ 2,344,259.35 \r\n \r\n72,249.58 \r\n \r\n$ 2,544,184.98 \r\n \r\n29,013.84 7,973.77 5,160.00 \r\n690.00 \r\n \r\n100,615.28 312,664.41 \r\n37,386.42 211,373.95 \r\n5,887.82 49,669.76 \r\n \r\n172,864.86 312,664.41 \r\n37,386.42 240,387.79 \r\n7,973.77 11,047.82 49,669.76 2,544,874.98 \r\n \r\n114,668.05 347,681.96 \r\n30,987.70 223,159.92 \r\n6,464.76 10,075.40 42,801.03 2,513,090.97 \r\n1,606.89 \r\n \r\nTotal Expenditures \r\n \r\n$ 2,544,184.98 $ 628,929.23 $ 2,551,511.18 $ 5,724,625.39 $ 5,634,796.03 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ -127,583.48 $ \r\n \r\n0.00 $ -121,790.67 $ -249,374.15 $ -227,428.34 \r\n \r\nOTHER FINANCING SOURCES {USES) \r\n \r\nOperating Transfers In Operating Transfers Out \r\n \r\n$ -124,050.00 $ \r\n \r\n$ 111,103.37 $ 111,103.37 $ \r\n \r\n0.00 \r\n \r\n-124,050.00 \r\n \r\n120,091.58 \r\n \r\nTotal Other Financing Sources (Uses) $ -124,050.00 $ \r\n \r\n0.00 $ 111,103.37 $ -12,946.63 $ 120,091.58 \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$ -251,633.48 $ \r\n \r\n0.00 $ -10,687.30 $ -262,320.78 $ -107,336.76 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n1,050,775.03 \r\n \r\n0.00 \r\n \r\n13,435.97 \r\n \r\n1,064,211.00 \r\n \r\n1,141,388.32 \r\n \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\n-18,223.79 1,760.79 \r\n \r\n-18,223.79 1,760.79 \r\n \r\n28,826.76 1,332.68 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 782,678.55 $ \r\n \r\n0.00 $ \r\n \r\n2,748.67 $ 785,427.22 $ 1,064,211.00 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-19- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30, 1999 \r\n \r\nASSETS Cash and Cash Equivalents Investments Accounts Receivable \r\nTotal Assets \r\nLIABILITIES AND FUND EQUITY LIABILITIES \r\nCash Overdraft Accounts Payable Notes Payable Contracts Payable Retainages Payable \r\nTotal Liabilities FUND EQUITY \r\nFund Balances Reserved For Purposes of Bond Issue For SPLOST Projects For State Capital Outlay Projects Unreserved Undesignated Total Fund Equity \r\nTotal Liabilities and Fund Equity \r\n \r\nREGULAR \r\n \r\nBOND PROCEEDS \r\n \r\n$ \r\n \r\n16,295.52 $ \r\n \r\n196,068.25 \r\n \r\n1,011,620.20 \r\n \r\n$ \r\n \r\n16,295.52 $ 1,207,688.45 \r\n \r\n$ 1,200,000.00 $ 1,200,000.00 \r\n \r\n$ \r\n \r\n7,688.45 \r\n \r\n$ _ _ _1_6._,2_9_5_.5_2_ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n16,295.52 $ _ _ _7....,,6_8_8__.4_5_ \r\n \r\n$ \r\n \r\n16,295.52 $ 1,207,688.45 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-20- \r\n \r\n EXHIBIT\"G\" \r\n \r\nGEORGIA STATE FINANCING,AND \r\nINVESTMENT COMMISSION \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nJUNE 30, 1999 \r\n \r\nJUNE 30, 1998 \r\n \r\n$ \r\n \r\n40,454.11 $ \r\n \r\n252,817.88 $ 1,580,803.38 \r\n \r\n$ \r\n \r\n90,609.14 \r\n \r\n3,877,332.96 \r\n \r\n4,979,562.30 \r\n \r\n8,200,026.23 \r\n \r\n878,684.84 \r\n \r\n878,684.84 \r\n \r\n2,097,676.91 \r\n \r\n$ \r\n \r\n90,609.14 $ 4,796,471.91 $ 6,111,065.02 $ 11,878,506.52 \r\n \r\n$ \r\n \r\n66,485.54 \r\n \r\n24,123.60 \r\n \r\n$ \r\n \r\n90,609.14 \r\n \r\n$ \r\n \r\n66,485.54 $ \r\n \r\n659,745.18 \r\n \r\n24,123.60 \r\n \r\n125,619.55 \r\n \r\n1,200,000.00 \r\n \r\n2,000,000.00 \r\n \r\n1,194,995.34 \r\n \r\n473,349.13 \r\n \r\n$ 1,290,609.14 $ 4,453.709.20 \r\n \r\n$ \r\n \r\n7,688.45 $ 3,345,148.77 \r\n \r\n$ 4,796,471.91 \r\n \r\n4,796,471.91 \r\n \r\n2,411,645.86 \r\n \r\n1,539,489.92 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n16,295.52 \r\n \r\n128,512.77 \r\n \r\n$ \r\n \r\n0.00 $ 4z796,471.91 , $ 4,820.455.88 $ 7.424.797.32 \r\n \r\n$ \r\n \r\n90,609.14 $ 4.796,471.91 $ 6,111,065.02 $ 11,878,506.52 \r\n \r\n- 21 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nCAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 1999 \r\n \r\nREVENUES \r\nState Funds Taxes Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Support Services Business Administration \r\nCapital Outlay Salaries Employee Benefits Travel of Employees Land and Land Improvements Building and Building Improvements Equipment \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nProceeds from General Obligation Bonds Par Value \r\nOperating Transfers In Operating Transfers Out \r\nTotal Other Financing Sources (Uses) \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JULY 1 \r\nFUND BALANCE JUNE 30 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-22- \r\n \r\nREGULAR \r\n \r\nBOND PROCEEDS \r\n \r\n$ \r\n \r\n22,510.06 $ \r\n \r\n67 070.48 \r\n \r\n$ \r\n \r\n22,510.06 $ \r\n \r\n67,070.48 \r\n \r\n$ \r\n \r\n$ \r\n \r\n59,780.04 \r\n \r\n13,071.18 \r\n \r\n1,976.09 \r\n \r\n136,049.00 \r\n \r\n$ \r\n \r\n210,876.31 $ \r\n \r\n$ -188,366.25 $ \r\n \r\n66,611.11 \r\n66,611.11 459.37 \r\n \r\n$ \r\n \r\n136,049.00 $ 2,254,368.26 \r\n \r\n-59,900.00 \r\n \r\n-5,592,287 .95 \r\n \r\n$ \r\n \r\n76,149.00 $ -3,337,919.69 \r\n \r\n$ -112,217.25 $ -3,337,460.32 \r\n \r\n128,512.77 \r\n \r\n3,345,148.77 \r\n \r\n$ \r\n \r\n16,295.52 $ ====7=,6==88=.4=5= \r\n \r\n EXHIBIT\"H\" \r\n \r\nGEORGIA STATE FINANCING AND \r\nINVESTMENT COMMISSION \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 1999 \r\n \r\nJUNE 30, 1998 \r\n \r\n$ 1,087,054.12 \r\n \r\n$ 1,087,054.12 $ 2,618,955.05 \r\n \r\n$ 3,755,487.26 \r\n \r\n3,755,487.26 \r\n \r\n3,693,392.57 \r\n \r\n42,035.42 \r\n \r\n22,686.28 \r\n \r\n154,302.24 \r\n \r\n543,079.76 \r\n \r\n$ 1,129,089.54 $ 3,778,173.54 $ 4,996,843.62 $ 6,855,427.38 \r\n \r\n$ \r\n \r\n66,611.11 $ \r\n \r\n99,688.96 \r\n \r\n$ \r\n \r\n589,227.08 \r\n \r\n$ 2,516,047.88 \r\n \r\n2,479,536.53 \r\n \r\n473,981.86 \r\n \r\n889,054.29 \r\n \r\n59,780.04 13,071.18 \r\n1,976.09 589,227.08 5,131,633.41 1,363,036.15 \r\n \r\n59,780.04 13,177.07 \r\n1,750.06 154,602.89 11,501,762.75 1,314,041.75 \r\n \r\n$ 2,990,029.74 $ 3,957,817.90 $ 7,225,335.06 $ 13,144,803.52 \r\n \r\n$ -1,860,940.20 $ -179,644.36 $ -2,228,491.44 $ -6,289,376.14 \r\n \r\n$ 5,000,000.00 \r\n \r\n$ \r\n \r\n897,499.28 $ 5,730,245.97 $ 9,018,162.51 \r\n \r\n9,918,649.14 \r\n \r\n-576,049.00 \r\n \r\n-3,165,775.56 \r\n \r\n-9,394,012.51 \r\n \r\n-9,918,649.14 \r\n \r\n$ \r\n \r\n321,450.28 $ 2,564,470.41 $ -375,850.00 $ 5,000,000.00 \r\n \r\n$ -1,539,489.92 $ 2,384,826.05 $ -2,604,341.44 $ -1,289,376.14 \r\n \r\n1,539,489.92 \r\n \r\n2,411,645.86 \r\n \r\n7,424,797.32 \r\n \r\n8, 714.173.46 \r\n \r\n$ =====0=.0=0 $ 4,796,471.91 $ 4,820,455.88 $ 7,424,797.32 \r\n \r\n-23- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET DEBT SERVICE FUND JUNE 30, 1999 \r\n \r\nEXHIBIT\"!\" \r\n \r\nASSETS Accounts Receivable \r\n \r\nPROPERTY TAXES FOR \r\nBOND DEBT \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nJUNE 30, 1999 \r\n \r\nJUNE 30, 1998 \r\n \r\n$ \r\n \r\n397.14 $ \r\n \r\n0.00 $ \r\n \r\n397.14 $ \r\n \r\n2,131.96 \r\n \r\nLIABILITIES AND FUND EQUITY \r\n \r\nLIABILITIES \r\n \r\nCash Overdraft \r\n \r\n$ \r\n \r\nFUND EQUITY \r\n \r\nFund Balances Unreserved Undesignated \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ \r\n \r\n397.14 \r\n \r\n$ \r\n \r\no.oo $ ____=o._o_o_a... \r\n \r\n397.14 $ \r\n \r\n0.00 $ \r\n \r\n397.14 $ \r\n \r\n2,131.96 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n397.14 $ ____2_,1_31_.9_6_ \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-24- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nDEBT SERVICE FUND YEAR ENDED JUNE 30, 1999 \r\n \r\nEXHIBIT\"J\" \r\n \r\nREVENUES \r\n \r\nPROPERTY TAXES FOR \r\nBOND DEBT \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 1999 \r\n \r\nJUNE 30, 1998 \r\n \r\nTaxes Other Funds \r\n \r\n$ \r\n \r\n8,467.18 $ 1,739,949.02 $ 1,748,416.20 $ 1,339,639.38 \r\n \r\n39 791.98 \r\n \r\n81 049.45 \r\n \r\n120,841.43 \r\n \r\n26,663.13 \r\n \r\nTotal Revenues \r\n \r\n$ \r\n \r\n48,259.16 $ 1,820,998.47 $ 1,869,257.63 $ 1,366,302.51 \r\n \r\nEXPENDITURES \r\n \r\nDebt Service Principal Interest Paying Agent Fees \r\n \r\n$ 1,090,000.00 $ 1,090,000.00 $ 1,030,000.00 \r\n \r\n$ \r\n \r\n42,877.96 \r\n \r\n730,998.47 \r\n \r\n773,876.43 \r\n \r\n643,396.86 \r\n \r\n5,381.20 \r\n \r\n5,381.20 \r\n \r\n886.04 \r\n \r\nTotal Expenditures \r\n \r\n$ \r\n \r\n48,259.16 $ 1,820,998.47 $ 1,869,257.63 $ 1,674,282.90 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ -307,980.39 \r\n \r\nOTHER FINANCING SOURCES \r\n \r\nAccrued Interest on Bonds Sold \r\n \r\n9 717.74 \r\n \r\nExcess of Revenues and Other Financing Sources \r\n \r\nover (under) Expenditures \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n-298,262.65 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n298,262.65 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ =----0==00= \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-25- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 30 1999 \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\nAgriculture, U.S. Department of Child Nutrition Cluster Pass-Through From Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1999 Grant National School Lunch Program 1999 Grant \r\nTotal Child Nutrition Cluster \r\nOther Programs Pass-Through From Georgia Department of Education Food and Nutrition Program Food Distribution Program (1) Pass-Through From Office of School Readiness Food and Nutrition Program Child and Adult Care Food Program 1999 Contract \r\nTotal U. S. Department of Agriculture \r\nEducation,U.S.Departmentof Special Education Cluster Pass-Through From Georgia Department of Education Individuals with Disabilities Education Act Part B - Special Education Flow Through 1999 Grant Preschool 1999 Grant Building Improvement 1999 Grant \r\nTotal Special Education Cluster \r\nOther Programs .Pass-Through From Berrien County Board of Education d/bla Southern Pine Migrant Education Agency Elementary and Secondary Education Act Title I Migrant Education 1998 Summer 1999 Regular 1999Summer Pass-Through From Georgia Department of Education Elementary and Secondary Education Act Title I Grants to Local Educational Agencies 1998Summer 1999 Regular 1999 Summer Title II Eisenhower Professional Development 1999 Grant \r\n \r\nCFDA NUMBER \r\n \r\nPASSTHROUGH \r\nENTITY ID \r\nNUMBER \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n* 10.553 * 10.555 \r\n \r\nNIA $ \r\n \r\n374,674.36 \r\n \r\n(2) \r\n \r\nNIA \r\n \r\n1,209,962.38 $ 2,403,428.51 (3) \r\n \r\n$ 1,584,636.74 $ 2,403,428.51 \r\n \r\n* 10.550 \r\n \r\nNIA \r\n \r\n140,756.47 \r\n \r\n140,756.47 \r\n \r\n10.558 \r\n \r\nNIA \r\n \r\n2,964.68 \r\n \r\n{2) \r\n \r\n$ 1,728,357.89 $ 2,544,184.98 \r\n \r\n* 84.027 * 84.173 * 84.173 \r\n \r\nNIA \r\n \r\n$ \r\n \r\nNIA \r\n \r\nNIA \r\n \r\n$ \r\n \r\n368,261.83 $ \r\n89,460.00 9101.64 \r\n466,823.47 $ \r\n \r\n368,261.83 89,460.00 9,101.64 \r\n466,823.47 \r\n \r\n84.011 \r\n \r\nNIA \r\n \r\n84.011 \r\n \r\nNIA \r\n \r\n84.011 \r\n \r\nNIA \r\n \r\n37,091.67 88,738.00 32,263.04 \r\n \r\n37,091.67 88,738.00 32,263.04 \r\n \r\n84.010 \r\n \r\nNIA \r\n \r\n84.010 \r\n \r\nNIA \r\n \r\n84.010 \r\n \r\nNIA \r\n \r\n84.281 \r\n \r\nNIA \r\n \r\n45,254.32 1,352,140.01 \r\n32,007.95 \r\n44,159.71 \r\n \r\n51,926.60 1,352,740.01 \r\n32,007.95 \r\n44,159.71 \r\n \r\n-26- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 30 1999 \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\nEducation, U.S. Department of Other Programs Pass-Through From Georgia Department of Education Elementary and Secondary Education Act Title Ill Technology Literacy Challenge Fund Grants 1999 Grant Title VI Innovative Education Program Strategies 1999 Grant Safe and Drug-Free Schools 1999 Grant Stewart 8. McKinney Homeless Assistance Act Education for Homeless Children and Youth 1999 Grant Vocational Education - Basic Grants to States High School Program Basic Grant 1999 Grant \r\nTotal U.S. Department of Education \r\nOTHER FEDERAL ASSISTANCE \r\nDefense, U.S. Department of Direct Departmenfof the Air Force R.O.T.C. Program 1999 Grant \r\n \r\nCFDA NUMBER \r\n \r\nPASSTHROUGH \r\nENTITY ID \r\nNUMBER \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n84.318 84.298 84.186 84.196 \r\n \r\nN/A \r\n \r\n$ \r\n \r\nN/A N/A \r\n \r\nN/A \r\n \r\n101,867.70 $ 51,083.00 39,144.00 23,398.96 \r\n \r\n101,867.70 51,083.00 39,144.00 27,413.98 (3) \r\n \r\n84.048 \r\n \r\nN/A \r\n \r\n791137.24 \r\n \r\n1241508.09 (3) \r\n \r\n$ 2,393,709.07 $ 2,449,767.22 \r\n \r\n$ \r\n \r\n36,011.44 $ \r\n \r\n101,743.96 (3) \r\n \r\nTotal Federal Financial Assistance \r\n \r\n$ 4,158,078.40 $ \r\n \r\nNIA= Not Available \r\n \r\nNotes to the Schedule of Expenditures of Federal Awards \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 Child and Adult Care Food Program and the School Breakfast Program were not maintained separately and are inducted in the 1999 National School Lunch Program. \r\n(3) Expenditures for this program indude State, and/or Other Funds. Expenditures are not maintained by fund source. \r\n \r\nMajor Programs are identified by an asterisk (*) in front of the CFDA number. \r\n \r\nThe Board did not provide Federal Assistance to any Subrecipienl \r\n \r\nThe accompanying schedule of expenditures of Federal awards indudes the Federal grant activity of the Tift County Board of Education and is presented on the modified accrual basis of accounting which is the basis of.accounting used in the presentation of the general purpose financial statements. \r\n \r\n5,095,696.16 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-27- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 1999 \r\n \r\nSCHEDULE \"2\" \r\n \r\nAGENCY/FUNDING \r\nGRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Limited English Speaking Middle School Incentive Program Special Instructional Assistance In-School Suspension Counselors Grades 4 and 5 Technology Training Local Five Mill Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Alternative Program Apprenticeship Program At-Risk Summer School Program Environmental Science Program Health Insurance Innovative Programs Mentoring Program Mentor Teacher Program Year 2000 Project Funding Preschool Handicapped Program Remedial Summer School Program Student Record Special Education Low Incidence Grant Teachers' Retirement Lottery Programs Assistive Technology Computers in the Classroom \r\nGeorgia State Financing and Investment Commission Reimbursement on Construction Projects \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 Reading Challenge Program \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 16,179,867.00 3,093,898.00 887,452.00 699,268.00 192,944.00 4,313,509.00 \r\n \r\n602,392.00 203,612.00 136,827.00 223,367.00 757,633.95 178,825.00 \r\n63,452.00 86,527.00 -3,370,398.00 1,733,202.00 \r\n$ 1,117,469.23 \r\n \r\n205,584.00 \r\n \r\n115,500.00 35,000.00 27,635.35 500.00 \r\n386,327.16 5,000.00 7,600.00 972.00 \r\n28,777.50 103,537.12 \r\n11,969.12 5,565.00 \r\n31,388.00 47,961.28 \r\n \r\n10,862.82 146,629.00 \r\n \r\n$ 16,179,867.00 3,093,898.00 887,452.00 699,268.00 192,944.00 4,313,509.00 \r\n602,392.00 203,612.00 136,827.00 223,367.00 757,633.95 178,825.00 \r\n63,452.00 86,527.00 -3,370,398.00 1,733,202.00 205,584.00 1,117,469.23 \r\n115,500.00 35,000.00 27,635.35 500.00 \r\n386,327.16 5,000.00 7,600.00 972.00 \r\n28,777.50 103,537.12 \r\n11,969.12 5,565.00 \r\n31,388.00 47,961.28 \r\n10,862.82 146,629.00 \r\n \r\n84,921.00 \r\n \r\n$ 1,087,054.12 471,437.41 \r\n \r\n1,087,054.12 471,437.41 84,921.00 \r\n \r\n74,640.97 \r\n \r\n74,640.97 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n$ 28,067,141.68 $ 834,513.23 $ 1,087,054.12 $ 29,988,709.03 -28- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nYEAR ENDED JUNE 30, 1999 \r\n \r\nSCHEDULE \"3\" \r\n \r\nPROJECT \r\nThe repayment of principal and interest on the School District Series 1995 Bonds maturing February 1, 1998, and thereafter; the acquisition, construction and equipping of an auditorium at the new high school; the completion of the new high school grounds and security; a new elementary school; improvements at J. T. Reddick School and Matt Wilson School; system-wide technology for all schools; and Annie Belle Clark School renovations for system-wide utilization, including the acquisition of all necessary property \r\n \r\nORIGINAL ESTIMATED \r\nCOST (1) \r\n \r\nCURRENT ESTIMATED COSTS (2) \r\n \r\nAMOUNT EXPENDED IN CURRENT YEAR (3) \r\n \r\nAMOUNT EXPENDED \r\nIN PRIOR YEARS \r\n \r\n$ 32,000,000.00 $ 32,000,000.00 $ 5,070,427.48 $ 4,683,083.66 \r\n \r\n(1) The Board's original cost estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax. \r\n(2) The Board's current estimate of total cost for the project. Includes all cost from project inception to completion. \r\n(3) The voters of Tift County approved the imposition of a 1% sales tax to fund the above project and to retire associated debt. Amounts expended for this project may include sales tax proceeds, state, local property taxes and/or other funds over the life of the project. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-29- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES LOTTERY PROGRAMS YEAR ENDED JUNE 30, 1999 \r\n \r\nSCHEDULE \"4\" \r\n \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services General Administration .Maintenance and Operation of Plant Student Transportation Services Food Services Operation \r\n \r\nASSISTIYE TECHNOLOGY \r\n \r\nCOMPUTERS INTHE \r\nCLASSROOM \r\n \r\nPRE-KINDERGARTEN PROGRAM \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n10,862.82 $ 146,629.00 $ \r\n \r\n356,350.22 $ 513,842.04 \r\n \r\n72,249.58 29,013.84 \r\n7,973.77 5,160.00 \r\n690.00 \r\n \r\n72,249.58 29,013.84 \r\n7,973.77 5,160.00 \r\n690.00 \r\n \r\nTotal Expenditures \r\n \r\n$ \r\n \r\n10,862.82 $ 146,629.00 $ _ _ _ _ _4_71_.4_3_7_.4_1 $ 628,929.23 \r\n \r\nRECAP: Salaries and Benefits Pre-Kindergarten Program Other Expenditures Assistive Technology Computers in the Classroom Pre-Kindergarten Program \r\n \r\n$ 343,189.08 \r\n10,862.82 146,629.00 128,248.33 \r\n \r\n$ 628,929.23 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 30- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL \r\nGENERAL FUND-QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1999 \r\n \r\nSCHEDULE \"5\" \r\n \r\nMinimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis \r\nSalaries Operations \r\nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \r\nExpenditures per Audit \r\nAmount of Underexpenditure for Total Allotment \r\n \r\nFOURTEEN WEIGHTED AND MEDIA CENTER \r\nPROGRAMS \r\n \r\n100% TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS \r\n \r\n$ \r\n \r\n20,860,485.00 $ \r\n \r\n593,456.00 \r\n \r\n$ \r\n \r\n21,556,094.04 \r\n \r\n1,508,101.36 $ _ _.:.i1,.:,.15;_4;.:.;,2;:;.;9;,;;2,;.;;.0_4 \r\n \r\n$ \r\n \r\n23,064,195.40 \r\n \r\n-480,564.67 $ _ _.;;2=2=,5..;.83='=63;..;;0.;.;..7..;..3 \r\n \r\n$ \r\n \r\n0.00 $======0=.00= \r\n \r\nSee notes to the general purpose financial statements. - 31 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \r\nGENERAL FUND- QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1999 \r\n \r\nGENERAL AND CAREER EDUCATION PROGRAMS Kindergarten (*) Grades 1 - 3 (*) Sub-Total - K-3 Grades 4- 5 (*) Grades 6 - 8 (*) \r\nGrades 9 - 12 i) \r\nHigh School Laboratories (*) Vocational Education Laboratories (*) \r\nTotal General and Career Education Programs SPECIAL EDUCATION PROGRAMS \r\nRegular Programs Category II (*) Category Ill (*) Category IV (*) CategoryV (*) Sub-Total - Regular Category VI (Gifted) (*) Total Special Education Programs \r\nREMEDIAL EDUCATION PROGRAM{*} Total Fourteen Weighted Programs \r\nMEDIA CENTER PROGRAMS Salaries Operations Total Media Center Programs \r\nTotal Fourteen Weighted and Media Center Programs \r\n \r\nALLOTMENTS FROM GEORGIA DEPARTMENT OF \r\n \r\nREQUIRED \r\n \r\nORIGINAL \r\n \r\n~ \r\n \r\nORIGINAL \r\n \r\nMID-TERM \r\n \r\n$ 1,854,142.00 \r\n \r\n$ 1,668,727.80 $ \r\n \r\n4,544,631.00 \r\n \r\n4,090,167.90 \r\n \r\n$ 6,398,TT3.00 90 $ 5,758,895.70 $ \r\n \r\n1,891,888.00 90 \r\n \r\n1,702,699.20 \r\n \r\n3,429,358.00 90 \r\n \r\n3,086,422.20 \r\n \r\n2,337,348.00 90 \r\n \r\n2,103,613.20 \r\n \r\n1,421,635.00 90 \r\n \r\n1,279,471.50 \r\n \r\n700,865.00 90 \r\n \r\n630,TT8.50 \r\n \r\n$ 16,179,867.00 \r\n \r\n$ 14,561,880.30 $ \r\n \r\n0.00 0.00 \r\n0.00 \r\n \r\n$ 2,789,233.00 \r\n \r\n$ 2,510,309.70 $ \r\n \r\n0.00 \r\n \r\n$ 2,789,233.00 90 $ 2,510,309.70 $ \r\n \r\n304,665.00 90 \r\n \r\n274,198.50 \r\n \r\n$ 3,093,898.00 \r\n \r\n$ 2,784,508.20 $ \r\n \r\n$ \r\n \r\n887,452.00 90 $ \r\n \r\n798,706.80 $ \r\n \r\n$ 20,161,217.00 \r\n \r\n$ 18,145,095.30 $ \r\n \r\n$ \r\n \r\n556,924.00 90 $ \r\n \r\n501,231.60 $ \r\n \r\n142,344.00 100 \r\n \r\n142,344.00 \r\n \r\n$ \r\n \r\n699,268.00 \r\n \r\n$ \r\n \r\n643,575.60 $ \r\n \r\n$ 20,860,485.00 \r\n \r\n$ 18,788,670.90 $ \r\n \r\n0.00 \r\n0.00 0.00 0.00 \r\n0.00 0.00 \r\n0.00 \r\n \r\nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \r\nTotal Staff Development Programs (*) Identifies Fourteen Weighted Programs. \r\nSee notes to the general purpose financial statements. \r\n \r\n$ \r\n \r\n60,859.00 \r\n \r\n$ \r\n \r\n60,859.00 $ \r\n \r\n0.00 \r\n \r\n132,085.00 \r\n \r\n132,085.00 \r\n \r\n$ \r\n \r\n192,944.00 100 $ \r\n \r\n192,944.00 $=====0=.0=0 \r\n \r\n 32  \r\n \r\n SCHEDULE \"6\" \r\n \r\nEDUCATION TOTAL \r\nREQUIRED \r\n \r\nACTUAL EXPENDITURES \r\n \r\nSALARIES \r\n \r\nOPERATIONS \r\n \r\nTOTAL \r\n \r\nAMOUNT OF UNDEREXPENDITURE \r\nFOR REQUIRED ALLOTMENT \r\n \r\n$ 1,668,727.80 $ 1,723,747.41 $ \r\n \r\n88,919.10 $ 1,812,666.51 \r\n \r\n4,090,167.90 \r\n \r\n4,146,546.26 \r\n \r\n282,422.55 \r\n \r\n4,428,968.81 \r\n \r\n$ 5,758,895.70 $ 5,870,293.67 $ \r\n \r\n371,341.65 $ 6,241,635.32 $ \r\n \r\n0.00 \r\n \r\n1,702,699.20 \r\n \r\n2,097,099.57 \r\n \r\n131,689.03 \r\n \r\n2,228,788.60 \r\n \r\n0.00 \r\n \r\n3,086,422.20 \r\n \r\n3,768,041.73 \r\n \r\n164,278.27 \r\n \r\n3,932,320.00 \r\n \r\n0.00 \r\n \r\n2,103,613.20 \r\n \r\n2,810,349.25 \r\n \r\n255,884.37 \r\n \r\n3,066,233.62 \r\n \r\n0.00 \r\n \r\n1,279,471.50 \r\n \r\n1,308,355.28 \r\n \r\n93,625.90 \r\n \r\n1,401,981.18 \r\n \r\n0.00 \r\n \r\n630,TTS.50 \r\n \r\n1,116,493.73 \r\n \r\n63,681.66 \r\n \r\n1,180,175.39 \r\n \r\n0.00 \r\n \r\n$ 14,561,880.30 $ 16,970,633.23 $ 1,080,500.88 $ 18,051,134.11 \r\n \r\n$ 2,510,309.70 $ \r\n \r\n1,261,623.45 $ 1,205,289.36 \r\n32,637.54 5,403.60 \r\n \r\n23,628.00 $ 26,840.83 \r\n2,362.29 \r\n \r\n1,285,251.45 1,232,130.19 \r\n34,999.83 5,403.60 \r\n \r\n$ 2,510,309.70 $ 2,504,953.95 $ \r\n \r\n52,831.12 $ 2,557,785.07 \r\n \r\n0.00 \r\n \r\n274,198.50 \r\n \r\n446,597.49 \r\n \r\n11,051.76 \r\n \r\n457,649.25 \r\n \r\n0.00 \r\n \r\n$ 2,784,508.20 $ 2,951,551.44 $ \r\n \r\n63,882.88 $ 3,015,434.32 \r\n \r\n$ \r\n \r\n798,706.80 $ \r\n \r\n807,886.02 $ \r\n \r\n9,908.28 $ \r\n \r\n817,794.30 \r\n \r\n0.00 \r\n \r\n$ 18,145,095.30 $ 20,730,070.69 $ 1,154,292.04 $ 21,884,362.73 \r\n \r\n$ \r\n \r\n501,231.60 $ \r\n \r\n826,023.35 \r\n \r\n$ \r\n \r\n826,023.35 \r\n \r\n0.00 \r\n \r\n142,344.00 \r\n \r\n$ \r\n \r\n353,809.32 \r\n \r\n353,809.32 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n643,575.60 $ \r\n \r\n826,023.35 $ \r\n \r\n353,809.32 $ 1,179,832.67 \r\n \r\n$ 18,788,670.90 $ 21,556,094.04 $ 1,508,101.36 $ 23,064,195.40 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n60,859.00 \r\n \r\n132,085.00 \r\n \r\n$ =====1=92='=944==.0=0 \r\n \r\n$ \r\n \r\n120,065.44 $ \r\n \r\n120,065.44 \r\n \r\n73,399.44 \r\n \r\n73,399.44 \r\n \r\n$ \r\n \r\n193,464.88 $ \r\n \r\n193,464.88 $-====---==.0....0...0.. \r\n \r\n 33  \r\n \r\n SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS \r\n \r\n RussELL W. HtNTON \r\nSTATE AUDITOR \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMay 18, 2000 \r\n \r\nHonorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the Tift 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 \r\nGOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the financial statements ofTift County Board ofEducation as of and for the year ended June 30, 1999, and have issued our report thereon dated May 18, 2000. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. \r\nWe did not observe the taking of either the Federal donated commodities inventory or the purchased foods inventory at June 30, 1999, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. \r\nCompliance \r\nAs part of obtaining reasonable assurance about whether Tift County Board of Education's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. \r\n \r\n99YB-40 \r\n \r\n Internal Control Over Financial Reportin~ \r\nIn planning and performing our audit, we considered Tift County Board of Education's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. However, we noted a certain matter involving the internal control over financial reporting and its operation that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control over financial reporting that, in our judgement, could adversely affect Tift County Board of Education's ability to record, process, summarize and report financial data consistent with assertions of management in the financial statements. The reportable condition is described in the accompanying Schedule of Findings and Questioned Costs as item FS-7371-99-01. \r\nA material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control that might be reportable conditions and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, the reportable condition described above is considered to be a material weakness. \r\nThis report is intended solely for the information and use ofmanagement, members ofthe Tift County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties. \r\nRe~ectfully submitted, \r\n \r\nRWH:gp 99YB-40 \r\n \r\nState Auditor \r\n \r\n w. RUSSELL \r\n \r\nHINTON \r\n \r\nSTATE AUDITOR \r\n \r\n(404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMay 18, 2000 \r\n \r\nHonorable Roy E. Barnes, Governor Members ofthe General Assembly Members of the State Board of Education \r\nand Superintendent and Members of the Tift County Board of Education \r\nREPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLiANCE IN ACCORDANCE WITH 0MB CIRCULARA-133 \r\nLadies and Gentlemen: \r\nCompliance \r\nWe have audited the compliance of Tift County Board of Education with the types of compliance requirements described in the U.S. Office ofManagement and Budget (0MB) Circular A-133 Compliance Supplement that are applicable to each of its major Federal programs for the year ended June 30, 1999. Tift County Board ofEducation's major Federal programs are identified in the accompanying Schedule ofFindings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility of Tift County Board of Education's management. Our responsibility is to express an opinion on Tift County Board of Education's compliance based on our audit. \r\nWe conducted our audit of compliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and 0MB Circular A-133, Audits ofStates, Local Governments, and Non-Profit Organizations. Those standards and 0MB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major Federal program occurred. An audit includes examining, on a test basis, evidence about the Tift 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 Tift County Board ofEducation's compliance with those requirements. \r\n \r\n99SA-10 \r\n \r\n In our opinion, the Tift County Board of Education complied, in all material respects, with the requirements referred to above that are applicable to each of its major Federal programs for the year ended June 30, 1999. \r\nInternal Control Over Compliance \r\nThe management of Tift County Board of Education is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts and grants applicable to Federal programs. In planning and performing our audit, we considered Tift County Board of Education's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with 0MB Circular A133. \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 of one or more ofthe internal control components does not reduce to a relatively low level of risk that noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in relation to a major Federal program being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses. \r\nThis report is intended solely for the information and use ofmanagement, members of the Tift County Board of Education, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties. \r\nRespectfully submitted, \r\n \r\nRWH:gp 99SA-10 \r\n \r\nState Auditor \r\n \r\n SECTION ID AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\nAUDITEE'S RESPONSE \r\nSUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 1999 \r\n \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\nFS-7371-97-01 FS-7371-98-01 FS-7371-98-02 \r\n \r\nFurther Action Not Warranted Previously Reported Corrective Action Implemented Unresolved - See Corrective Action/Responses \r\n \r\nCORRECTIVE ACTION/RESPONSES \r\n \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding control Number: FS-7371-98-02 \r\n \r\nThe Tift County Board ofEducation acknowledges this finding; however, due to staffing and budget limitations the Board is unable to establish controls and procedures to maintain a General Fixed Assets Account Group. \r\n \r\nPRIOR YEAR FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\nFA-7371-97-01 FA-7371-97-02 FA-7371-98-01 FA-7371-98-02 \r\n \r\nFurther Action Not Warranted Further Action Not Warranted Previously Reported Corrective Action Implemented Previously Reported Corrective Action Implemented \r\n \r\n SECTION IV FINDINGS AND QUESTIONED COSTS \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1999 \r\nI SUMMARY OF AUDITOR'S RESULTS \r\n1. Type of Report Issued on the Financial Statements The auditor's opinion on the Tift County Board of Education's financial statements was qualified for a scope limitation and for various departures from generally accepted accounting principles. \r\n2. Reportable Conditions in Internal Control Disclosed by the Audit of the Financial Statements The audit report for the Tift County Board of Education disclosed a financial statement reportable condition related to the following control category. \r\nGeneral Fixed Assets \r\nThe reportable condition described above is considered to be a material weakness. \r\n3. Noncompliance Material to the Financial Statements The audit ofthe Tift County Board of Education disclosed no instances ofnoncompliance that were deemed to be material to the financial statements. \r\n4. Reportable Conditions in Internal Control Over Major Programs The audit report for the Tift County Board of Education did not disclose any reportable conditions in internal control over major programs. \r\n5. Type of Report Issued on Compliance for Major Programs The auditor's opinion on the Tift County Board of Education's report on compliance with requirements applicable to major programs was unqualified. \r\n6. Audit Findings Required to be Reported by Section .510(a) ofOMB CircularA-133 \r\nThe Tift County Board ofEducation's audit did not disclose audit findings required to be reported by section .510(a) ofOMB Circular A-133. \r\n7. Major Programs Federal awards audited as major programs are as follows: 10.553 Food and Nutrition Program - Food Services - School Breakfast Program 10.555 Food and Nutrition Program - Food Services - National School Lunch Program 10.550 Food and Nutrition Program - Food Distribution Program 84.027 Individuals with Disabilities Education Act- Part B - Special Education-Flow Through 84.173 Individuals with Disabilities Education Act - Part B - Special Education - Preschool 84.173 Individuals with Disabilities Education Act - Part B - Special Education - Building Improvement \r\n8. Type \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000.00. \r\n- 1- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\nYEAR ENDED JUNE 30, 1999 \r\nI SUMMARY OF AUDITOR'S RESULTS 9. Low Risk Auditee \r\nThe Tift County Board of Education did not qualify as a low risk auditee as defined by Section .530 of 0MB Circular A-133. \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition - Material Weakness Repeated From Prior Year Finding Control Number: FS-7371-99-01 The Tift County Board of Education did not establish a 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 Assets Account Group. Management's Response: The Tift County Board of Education acknowledges this finding; however, due to staffing and budget limitations the Board is unable to establish controls and procedures to maintain a General Fixed Assets Account Group. \r\nill FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \r\nNo matters were reported. \r\n-2- \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1997-h98","title":"Audit report, Tift County Board of Education, Tifton, Georgia, year ended June 30, 1998","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits.","Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Tift County, 31.45744, -83.52659"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1998-06-30"],"dcterms_description":["-year ended June 30, 1999.","Report year covers fiscal year.","Issued by the Georgia Dept. of Audits and Accounts, year ended June 30, 1996-year ended June 30, 1999","Has supplements: Supplementary information, Tift County Board of Education, Tifton, Georgia, summary and schedule of salaries and travel, -year ended June 30, 1998; Tift County Board of Education, Tifton, Georgia, schedule of salaries and travel, year ended June 30, 1999.","Year ended June 30, 1994 (online surrogate); title from PDF cover (Georgia Government Publications database, viewed July 20, 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":["Tift County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Tift County--Auditing--Periodicals.","Education--Georgia--Tift County--Finance--Statistics--Periodicals.","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Tift County Board of Education, Tifton, 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-bt5-b1997-h98"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1997-h98"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"- .. \r\nA?'oo \r\n.. \\ \r\nE~l.o \r\n\\5 \r\n1~'\\1 -'\\'3 \r\n \r\nAUDIT REPORT \r\n \r\nTIFT COUNTY BOARD OF EDUCATION \r\n \r\nTIFTON, GEORGIA \r\n \r\nYEAR ENDED JUNE 30, 1998 \r\n \r\n_ I \r\nl~ \r\n \r\n_--,-- \r\n \r\n./ \r\n \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 WASHINGTON STREET \r\nATLANTA, GEORGIA 30334-8400 \r\n \r\n TIFT COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\nEXHIBITS \r\n \r\nGENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nCOMBINED STATEMENTS - OVERVIEW \r\n \r\nA \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\nALL FUND TYPES AND ACCOUNT GROUP \r\n \r\n2 \r\n \r\nB \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nALL GOVERNMENTAL FUND TYPES \r\n \r\n4 \r\n \r\nC \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\n(NON-GAAP BASIS) \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n6 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n7 \r\n \r\nADDmONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING STATEMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nE \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n20 \r\n \r\nF \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n21 \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nG \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n22 \r\n \r\nH \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n24 \r\n \r\nDEBT SERVICE FUND \r\n \r\nI \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n26 \r\n \r\nJ \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n27 \r\n \r\nSCHEDULES \r\n \r\n1 SCHEDULE OF REQUIRED SUPPLEMENTARY INFORMATION \r\n \r\n28 \r\n \r\n2 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\n \r\n29 \r\n \r\n3 SCHEDULE OF STATE REVENUE \r\n \r\n31 \r\n \r\n4 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\n \r\n32 \r\n \r\n TIFT COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nADDmONAL FINANCIAL INFORMATION \r\n \r\nSCHEDULES \r\n \r\n5 SCHEDULE OF EXPENDITURES \r\n \r\nLOTTERY PROGRAMS \r\n \r\n33 \r\n \r\nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \r\n \r\n6 \r\n \r\nOVERALL \r\n \r\n35 \r\n \r\n7 \r\n \r\nBY PROGRAM \r\n \r\n36 \r\n \r\nSECTION II \r\nCOMPLIANCE AND INTERNAL CONTROL REPORTS \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITII GOVERNMENT AUDITING STANDARDS \r\nREPORT ON COMPLIANCE WITII REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITII OMB CIRCULAR A-133 \r\n \r\nSECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\nSECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\n \r\n SECTION I FINANCIAL \r\n \r\n RUSSELL W. HINTON \r\nSTATE AUDITOR \r\n(404) 6562174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 \r\nJune 9,1999 \r\n \r\nHonorable Roy E. Barnes, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Tift County Board ofEducation \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE \r\nFINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION - \r\nSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nLadies and Gentlemen: \r\nWe have audited the accompanying general purpose financial statements of the Tift 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 Tift County Board ofEducation's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. \r\nExcept as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States. Those standards require that we plan and perfonn the audit to obtain reasonable assurance about whether the financial statements are free ofmaterial 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\nWe did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1998, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. \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\n98ARL-13B \r\n \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 confonn to generally accepted accounting principles. \r\n* School activity accounts maintained at the individual schools are not included in the general purpose \r\nfinancial statements. To 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\nThe aggregate effects on the general purpose financial statements ofthese variances or omissions have not been determined, but are believed to be material. \r\nIn our opinion, except for the effects ofsuch adjustments, ifany, on the Special Revenue Fund, as might have been detennined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph and 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 Tift County Board of Education as of June 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 June 9, 1999, on our consideration of the Tift County Board ofEducation's internal control over financial reporting and our tests ofits compliance with certain provisions oflaws, regulations, contracts and grants. \r\nThe year 2000 supplementary infonnation on Schedule \"1\" is not a required part of the basic financial statements but is supplementary infonnation required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally ofinquiries ofmanagement regarding the methods ofmeasurement and presentation ofthe supplemenUlry infonnation. Howeyer we did not audit the infonnation and do not express an opinion on it. In addition, we do not provide assurance that Tift County Board ofEducation is or will become year 2000 compliant, that the Board's year 2000 remediation efforts will be successful in whole or in part, or that parties with which Tift County Board ofEducation does business are or will become year 2000 compliant. \r\nOur audit was perfonned for the purpose of fonning an opinion on the general purpose financial statements ofthe Tift County Board ofEducation taken as a whole. The accompanying combining statements (Exhibits E through J) and the financial schedules (Schedules 2 through 7), which includes the Schedule of Expenditures of Federal Awards as required by U. S. Office ofM~agement and Budget Circular A-133, \r\n98ARL-13B \r\n \r\n  Audits ofStates, Local Governments, and Non-Profit Organizations, are presented for purposes of additional analysis and are not a required part of the general purpose financial statements. Such information has been subjected to the auditing procedures applied in the audit ofthe generai purpose financial statements and in our opinion, except for the effect of adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph and except for the effects ofthe matters referred to in the fourth paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. \r\nA copy of this report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \r\nRespectfully submitted, \r\n.. Z-u JJl tlJ:-4~ Russell W. Hinton State Auditor \r\nRWH:gp 98ARL-13B \r\n \r\n  TIFT COUNTY BOARD OF EDUCATION \r\n \r\n  EXHIBIT \"A\" \r\n \r\nDEBT SERVICE \r\nFUND \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$ 2,175,412.13 $ 2,627,290.21 \r\n \r\n10,296,221.15 \r\n \r\n13,039,757.10 \r\n \r\n$ \r\n \r\n2,131.96 \r\n \r\n3,306,856.19 \r\n \r\n1,039,174.10 \r\n \r\n6,405.00 \r\n \r\n62,383.08 14,127.n \r\n \r\n33,556.32 12,795.09 \r\n298,262.65 \r\n \r\n$ 14,605,000.00 \r\n \r\n14,605,000.00 \r\n \r\n10,336,737.35 240,897.41 \r\n \r\n$ \r\n \r\n2,131.96 $ 14,605,000.00 $ 3D.466,405.32 $ 27,628,470.23 \r\n \r\n$ \r\n \r\n2,131.96 \r\n \r\n$ \r\n \r\n2,131.96 \r\n \r\n425,322.74 $ \r\n \r\n156,530.52 \r\n \r\n342,230.80 \r\n \r\n351,310.59 \r\n \r\n2,000,000.00 \r\n \r\n26,483.39 \r\n \r\n22.29 \r\n \r\n1,194,995.34 \r\n \r\n1,353,084.43 \r\n \r\n473,349.13 \r\n \r\n1,728,645.71 \r\n \r\n240,897.41 \r\n \r\n1,370.02 \r\n \r\n$ 14,605,000.00 \r\n \r\n14,605,000.00 \r\n \r\n10,635,000.00 \r\n \r\n$ \r\n \r\n2,131.96 $ 14,605,000.00 $ 19,070,883.38 $ 14,465,490.95 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n6,672.28 $ \r\n \r\n14,652.47 \r\n \r\n6,763.69 \r\n \r\n9,916.65 \r\n \r\n298,262.65 \r\n \r\n62,383.08 14,127.n 3,345,148.n 2,411,645.86 1,539,489.92 \r\n \r\n33,556.32 12,795.09 6,441,262.62 \r\n2,374,301.19 \r\n \r\n4,009,290.57 \r\n \r\n-101,390.35 4,079,622.64 \r\n \r\n$ 11,395,521.94 $ 13,162,979.28 \r\n \r\n$ \r\n \r\n2,131.96 $ \r\n \r\n14,605,000.00 $ 30,466,405.32 $ 27,628,470.23 \r\n \r\n-3- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES \r\nAll GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30. 1998 \r\n \r\nREVENUES \r\nState Funds Federal Funds Taxes Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation \r\nCapital Outlay Debt Service \r\nPrincipal Interest Paying Agent Fees \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES lUSES) \r\nAccrued Interest on Bonds Sold Proceeds from General Obligation Bonds \r\nPar Value Operating Transfers In Operating Transfers Out \r\nTotal Other Financing Sources (Uses) \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JULY 1 \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\nGENERAl FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\n$ 25,769,871.04 $ \r\n7,079,526.29 572,432.25 \r\n$ 33,421,829.58 $ \r\n \r\n800,768.98 4,069,614.69 \r\n536,984.02 \r\n5,407,367.69 \r\n \r\n$ 22,100,171.18 $ \r\n1,876,671.02 862,152.82 920,879.89 525,517.13 \r\n2,651,948.41 154,872.35 \r\n2,537,965.07 1,283,689.59 \r\n141,506.02 30,767.70 \r\n67,562.41 \r\n240,897.41 9,778.23 \r\n \r\n2,344,259.35 \r\n114,668.05 347,681.96 \r\n30,987.70 223,159.92 \r\n6,464.76 10,075.40 \r\n42,801.03 2,513,090.97 \r\n1,606.89 \r\n \r\n$ 33,404,379.23 $ \r\n \r\n$ \r\n \r\n17,450.35 $ \r\n \r\n5,634,796.03 -227,428.34 \r\n \r\n$ \r\n \r\n$ \r\n \r\n-120,091.58 \r\n \r\n$ \r\n \r\n-120,091.58 $ \r\n \r\n120,091.58 120,091.58 \r\n \r\n$ \r\n \r\n-102,641.23 $ \r\n \r\n-107,336.76 \r\n \r\n3,009,154.85 \r\n \r\n1,141,388.32 \r\n \r\n28,826.76 1,332.68 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -4- \r\n \r\n2,906,513.62 $ \r\n \r\n1,064,211.00 \r\n \r\n EXHIBIT\"B\" \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTALS \r\n \r\n(Memorandum Only) \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30,1998 \r\n \r\nJUNE 30.1997 \r\n \r\n$ \r\n \r\n2,618,955.0~ \r\n \r\n$ 29,189,595.07 $ 32,625,105.49 \r\n \r\n4,069,614.69 \r\n \r\n3,655,531.17 \r\n \r\n3,693,392.57 $ 1,339,639.38 \r\n \r\n12,112,558.24 \r\n \r\n7,794,614.69 \r\n \r\n543,079.76 \r\n \r\n26,663.13 \r\n \r\n1,679.159.16 \r\n \r\n1.729.787.95 \r\n \r\n$ 6,855,427.38 $ 1.366,302.51 $ 47,050,927.16 $ 45.805,039.30 \r\n \r\n$ \r\n \r\n99,688.96 \r\n \r\n13,045,114.56 $ \r\n$ 13,144,803.52 $ $ -6.289.376.14 $ \r\n \r\n$ \r\n1,030,000.00 643,396.86 886.04 \r\n1.674.282.90 $ -307.980.39 $ \r\n \r\n24,444,430.53 $ \r\n1,991,339.07 1,209,834.78 \r\n951,867.59 748,6n.05 2,651,948.41 254,561.31 2,544,429.83 1,293,764.99 141,506.02 \r\n73,568.73 2,513,090.97 13,114,283.86 \r\n1,270,897.41 653,175.09 886.04 \r\n53.858,261.68 $ \r\n-6.807,334.52 $ \r\n \r\n23,021,251.85 \r\n2,022,326.71 815,028.45 839,968.90 784,407.93 \r\n2,394,931.25 148,807.n \r\n2,218,509.86 1,221,236.45 \r\n126,401.91 146,645.93 2,333,333.50 15,558,8n.66 \r\n500,818.36 640,387.28 \r\n893.90 \r\n52.n3,827.71 \r\n-6,968,788.41 \r\n \r\n$ $ 5,000,000.00 \r\n$ 5.000,000.00 $ $ -1,289,376.14 $ \r\n8,714,173.46 \r\n \r\n9,717.74 $ 9,717.74 $ \r\n \r\n9,717.74 \r\n5,000,000.00 120,091.58 $ -120,091.58 \r\n5.009.717.74 $ \r\n \r\n869,767.18 -869.767.18 \r\n0.00 \r\n \r\n-298,262,65 $ 298,262.65 \r\n \r\n-1,797,616,78 $ 13,162,979.28 \r\n \r\n-6,968,788.41 20,131,743.24 \r\n \r\n28,826.76 1,332.68 \r\n \r\n-990.58 1.015.03 \r\n \r\n$ 7,424,797.32 $ \r\n \r\n0.00 $ 11 ,395,521.94 $ 13,162,979.28 -5- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nBUDGET AND ACTUAL - (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS \r\nYEAR ENDED JUNE 30,1998 \r\n \r\nEXHIBITC \r\n \r\nGENERAL FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Taxes Other Funds \r\n \r\n$ 24,896,136,00 $ 25,769,871,04 \r\n \r\n6,549,680.00 319,647.00 \r\n \r\n7,079,526,29 572,432.25 \r\n \r\nTotal Revenues \r\n \r\n$ 31,765,463.00 $ 33,421,829,58 \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation \r\nCapital Outlay Debt Service \r\n \r\n$ 22,408,263.01 $ 22,100,171.18 \r\n \r\n1,885,684,00 862,860.00 945,040,90 526,626.00 \r\n2,638,501,58 185,000.00 \r\n2,643,000,00 1,359,140.00 \r\n142,300,00 27,800,00 \r\n \r\n1,876,671.02 862,152,82 920,879.89 525,517.13 \r\n2,651,948.41 154,872.35 \r\n2,537,965,07 1,283,689.59 \r\n141,506.02 30,767.70 \r\n \r\n66,000,00 \r\n \r\n67,562.41 250,675.64 \r\n \r\nTotal Expenditures \r\n \r\n$ 33,690,215.49 $ 33,404,379.23 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ -1,924,752.49 $ \r\n \r\n17,450,35 \r\n \r\nOTHER FINANCING SOURCES (USES) \r\n \r\nOther Sources Other Uses \r\n \r\n$ \r\n \r\n12,000.00 \r\n \r\n$ -120,091.58 \r\n \r\nTotal Other Financing Sources (Uses) \r\n \r\n$ \r\n \r\n12,000.00 $ -120,091.58 \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -1,912,752,49 $ \r\n \r\n-102,641.23 \r\n \r\nFUND BALANCE JULY 1. 1997 \r\n \r\n2,696,516,97 \r\n \r\n3,009,154.85 \r\n \r\nAdjustments Food Inventory - Net Change in Period \r\nPurchased Food \r\n \r\n-11,887.75 \r\n \r\nFUND BALANCE JUNE 30, 1998 \r\n \r\n$ 771,876,73 $ 2,906,513.62 \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\n$ 1,036,191,00 $ \r\n \r\n800,768.98 \r\n \r\n3,857,278.00 \r\n \r\n4,069,614,69 \r\n \r\n536,984.02 \r\n \r\n$ 4,893,469.00 $ 5,407,367.69 \r\n \r\n$ 2,408,476.40 $ 2,344,259,35 \r\n \r\n170,960,90 352,716.10 \r\n30,920.00 277,677.60 \r\n \r\n114,668,05 347,681,96 \r\n30,987.70 223,159.92 \r\n \r\n17,745,00 \r\n51,972.00 2,441,318.00 \r\n1,000,00 \r\n \r\n6,464,76 10,075.40 \r\n42,801,03 2,513,090.97 \r\n1,606,89 \r\n \r\n$ 5,752,786.00 $ 5,634,796.03 $ -859,317.00 $ -227,428,34 \r\n \r\n$ \r\n \r\n120,091,58 \r\n \r\n$ \r\n \r\n120,091.58 \r\n \r\n$ -859,317,00 $ -107,336.76 \r\n \r\n1,103,773,13 \r\n \r\n1,107,832.00 \r\n \r\n66,797.95 \r\n \r\n1,332,68 \r\n \r\n$ 311,254.08 $ 1,001,827,92 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. \r\n-6- \r\n \r\n TIFT 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 Tift County Board of Education (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the Board is a primary government and consists of all the organizations that compose its legal entity. \r\nFUND ACCOUNTING \r\nThe Board uses funds and an account group to report on its financial position and the results ofits operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate acco.unting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \r\nGeneral Fixed Assets are recorded as expenditures in the various funds at the time ofpurchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types. \r\nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances 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 ofa Board's educational activities. Governmental Fund Types include: \r\nGENERAL FUND - the fund used to account for all financial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. \r\nSPECIAL REVENUE FuND -the fund used to account for the proceeds ofspecific revenue sources (other \r\nthan for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are received primarily from the Georgia Department ofEducation and from the Federal government to accomplish specific educational objectives. \r\n-7- \r\n \r\n TIFT 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 ofmajor capital facilities. \r\nDEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees. \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account f()r general obligation debt outstanding. \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 (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. \r\nLiabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. \r\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 final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share of these contracts. During fiscal year 1998, a substantial number of personnel ofthe Board were employed for a one hundred and ninety day-period beginning in late August 1997 and ending in early June 1998. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1997 and ending in August 1998. State grants to fund the State's share ofthese contracts were disbursed from the Georgia Department of Education \r\n-8- \r\n \r\n TIFT 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\nto the Board in the same twelve months. As of June 30, 1998, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1998, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1998. Also, the State's portion of the compensation paid in July and August 1998 was received and recorded as revenue in the fiscal year subsequent to June 30,1998. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1997, were recorded in the year ended June 30, 1998. Generally accepted accounting principles require.that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \r\nBUDGET \r\nThe Tift County Board of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level ofbudget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. \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 of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. \r\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\n-9- \r\n \r\n TIFT 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\nSpecial Revenue \r\nFund \r\n \r\nFUND BALANCE JULY 1, 1997 \r\n \r\n$ 1,141,388.32 \r\n \r\nAdjustments Inventories - July 1, 1997 Food Donated Commodities \r\n \r\n-33.556.32 \r\n \r\nFund Balance July 1, 1997 (Budget Basis) \r\n \r\n$ 1,107,832.00 \r\n \r\nExcess ofRevenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\n \r\n-107,336.76 \r\n \r\nAdjustments Food Inventory - Net Change in Period Purchased Food \r\n \r\n1.332.68 \r\n \r\nFUND BALANCE JUNE 30, 1998 (Budget Basis) \r\n \r\n$ 1.001.827.92 \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\nINVESTMENTS \r\n \r\nCOMPOSITION OF INVESTMENTS Investments made by the Board in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase of one year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate ofretum shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following: \r\n \r\n-10 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D'\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nruNE 3D. 1998 \r\n \r\nNote 1: SUMMARy OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\n(1) Obligations issued by the State of Georgia or by other states, \r\n \r\n(2) Obligations issued by the United States government, \r\n \r\n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \r\n \r\n(4) Obligations of any corporation ofthe United States government, \r\n \r\n(5) Prime banker's acceptances, \r\n \r\n(6) The Local Government Investment Pool administered by the State of Georgia, Office ofTreasury and Fiscal Services, \r\n \r\n(7) Repurchase agreements, and \r\n \r\n(8) Obligations of other political subdivisions ofthe State of Georgia. \r\n \r\nRECEIVABLES \r\n \r\nReceivables consist ofgrant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from infonnation 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 Tift County Board of Commissioners fixed the property tax levy for the 1997 tax year (calendar year) on October 7, 1997 (levy date). Taxes were due on December 20, 1997. The lien date for property taxes was January 1, 1997. Taxes collected within the current fiscal year orwithin 60 days after year-end are reported as revenue in fiscal year 1998. The Tift County Tax Commissioner bills and collects the property taxes for the Board ofEducation, withholds 2.5% oftaxes collected as a fee for tax collection and remits the balance oftaxes collected to the Board. \r\n \r\nThe tax millage rate levied for the 1997 tax year (calendar year) for the Tift County Board ofEducation was as follows (a miil equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\n11.75 mills \r\n \r\n- 11 - \r\n \r\n TIFT 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\nSALES TAXES \r\nSpecial Purpose Local Option Sales Tax is to be used for capital outlay for educational purposes and debt service. Special Purpose Local Option Sales Tax revenue during the fiscal year amounted to $5,003,889.85 and was recorded in the Capital Projects and Debt Service Funds. The State will tenninate collection of this tax once an additional $26,996,110.15 has been collected or on June 30, 2002, whichever occurs first. \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 (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\nPREPAID ITEMS \r\nPayments made to vendors for services that will benefit periods subsequent to June 30, 1998, are recorded as prepaid items. \r\nGENERAL OBLIGATION BONDS \r\nThe Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond premiums and discounts, as well as issuance costs, are recognized in the financial statements during the year bonds are issued. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group. \r\nINTERFUND TRANSACTIONS \r\nThe Board has the following types of interfund transactions: \r\nReimbursements 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\n- 12- \r\n \r\n TIFT 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\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 confonnity 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 AND INVESTMENTS \r\nCOLLATERALIZATION OF DEPOSITS Official Code ofGeorgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum ofmoney which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value ofsecurities pledg~ shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \r\nAcceptable security for deposits consists of anyone of or any combination ofthe following: \r\n(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 ofindebtedness or other obligations ofthe counties or municipalities ofthe State of Georgia, \r\n(5) Bonds ofany public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use ofthe bonds for this purpose, \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws ofthe State of Georgia, and \r\n(7) Bonds, bills, notes, certificates ofindebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home \r\n \r\n-13 - \r\n \r\n TlFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\"- \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nruNE 30,1998 \r\n \r\nNote 2: DEPOSITS AND INVESTMENTS \r\n \r\nLoan Bank, the Federal Intennediate Credit Bank, the Central Bank for Cooperatives, the Fann 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 $7,975,686.87. The amounts of the total bank balances are classified into three categories of credit risk: \r\n \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is colla~eralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \r\n \r\nThe Board's deposits are classified by risk category at June 30, 1998, as follows: \r\n \r\nRisk Category \r\n \r\nBank Balance \r\n \r\n1 \r\n \r\n$ 312,352.92 \r\n \r\n2 \r\n \r\n6,310,515,66 \r\n \r\n3 \r\n \r\n1.352,818.29 \r\n \r\nTotal \r\n \r\n$ 7,975,686.1 \r\n \r\nCATEGORIZATION OF INVESTMENTS Investments are classified as to risk by the three categories described below: \r\n \r\nCategory 1 - Insured or registered, or securities held by the Board or the Board's agent in the Board's name. \r\nCategory 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the Board's name. \r\nCategory 3 - Uninsured or unregistered, with securities held by the counterparty, or by its trust department or agent but not in the Board's name, \r\n \r\n- 14- \r\n \r\n TIFT 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 AND INVESTMENTS \r\n \r\nAt June 30, 1998, the carrying value ofthe Board's total investments was $10,296,221.15. The investments are classified as to risk categories as follows: \r\n \r\nType of Investment \r\nU. S. Government \r\nLocal Government Investment Pools \r\nTotal Investments \r\n \r\nRisk Categories \r\n \r\n2 \r\n \r\n3 \r\n \r\nCarrying Amount \r\n \r\nFair Value \r\n \r\n$ 690,706.26 $ \r\n \r\n0.00 $'===:0l.0~0 $ 690,706.26 $ 690,706.26 \r\n \r\n9,605.514.89 9,605,514.89 $ 1O,296,221.15 $ 1O,296,221.15 \r\n \r\nThe carrying amounts shown above includes amounts maintained in an investment pool by the State of Georgia, Office of Treasury and Fiscal Services in which the Board owns no identifiable securities. The investment policy of the State ofGeorgia, Office ofTreasury and Fiscal Services for the Local Government Investment Pool (primary Liquidity Portfolio) does not provide for investment in derivatives or similar investments. A description of the Primary Liquidity Portfolio is as follows: \r\n \r\nThe Primary Liquidity Portfolio consists of Georgia Fund 1, which is a combination local and state government investment pool, and Fund 6. Georgia Fund 1 is a stable net asset value investment pool which follows Standard and Poor's criteria for AAAm rated money market funds. However, Georgia Fund 1 operates in a manner consistent with Rule 2a-7 ofthe Investment Company Act of 1940 and is considered to be a 2a-7 like pool. The pool is not registered with the SEC as an investment company. The pool's primary objectives are safety ofcapital, investment income, liquidity and diversification while maiIitaining principal ($1.00 per share value). Net asset value is calculated weekly to ensure stability. The pool distributes earnings (net of management fees) on a monthly basis and determines participant's shares sold and redeemed based on $1.00 per share. Pooled cash and cash equivalents and investments are reported at cost which approximates fair value. The pool does not issue any legally binding guarantees to support the value ofthe shares. Participation in the pool is voluntary and deposits consist of.funds from local governments; operating and trust funds ofGeorgia's state agencies, colleges and universities; and current operating funds of the State ofGeorgia's General Fund. \r\n \r\nInvestments in Georgia Fund 1 and Fund 6 are directed toward short-term instruments such as U. S. Treasury obligations, securities issued or guaranteed as to principal and interest by the U. S. Government or any of its agencies or instrumentalities, banker's acceptances and repurchase agreements. The weighted average maturity of Georgia Fund 1 may not exceed 60 days. Fund 6 maintains a duration of approximately one year. The weighted average maturity for Georgia'Fund 1 on June 30, 1998 was 29 days. The average investment duration for Fund 6 on June 30,1998 was .96 years. \r\n \r\n- 15 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D'( \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nIDNE 3D. 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 breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \r\n \r\nNote 4: RISK MANAGEMENT \r\n \r\nThe Board is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster and unemployment compensation. \r\n \r\nThe Board has obtained commercial insurance for risk ofloss associated with torts, assets, errors or omissions and job related illness or injuries to employees. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any 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 is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the same fund that the employee's salary and benefits were paid. Claims are accounted for with expenditure and liability being reported when it is probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated. \r\n \r\nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \r\n \r\n1997 1998 \r\n \r\nBeginning ofYear Liability \r\n \r\nClaims and Changes in Estimates \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n4,420.00 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n3.541.63 $ \r\n \r\nClaims Paid \r\n \r\nEnd ofYear Liability \r\n \r\n4.420.00 $ 606.00 $ \r\n \r\n0.00 2.935.63 \r\n \r\nThe Board has purchased surety bonds to provide additional insurance coverage as follows: \r\n \r\nPosition Covered \r\n \r\nAmount \r\n \r\nSuperintendent Each Employee \r\n \r\n$ 100,000.00 $ 10,000.00 \r\n \r\n- 16- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D'\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 3Q, 1998 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nGENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are as follows: \r\n \r\nPumose \r\n \r\nInterest Rates \r\n \r\nAmount \r\n \r\nGeneral Government - Series 1995 General Government - Series 1997 \r\n \r\n4,30% - 6.125% $10,345,000.00 \r\n \r\n3,70% - 4.35% \r\n \r\n4.260,000.00 \r\n \r\n$14,605,000.00 \r\n \r\nThe changes in General Long-Tenn Debt during the fiscal year ended June 30, 1998, were as follows: \r\n \r\nCapital Leases \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\nTotal \r\n \r\nBalance July 1, 1997 \r\n \r\n$ 240,897.41 $10,635,000.00 $10,875,897.41 \r\n \r\nAdditions \r\n \r\n5,000,000.00 5,000,000.00 \r\n \r\nDeductions Payments \r\n \r\n240,897.41 1,030.000.00 1.270,897.41 \r\n \r\nBalance June 30, 1998 \r\n \r\n$======0::=.0:=0 $14,605,000.00 $14,605,000.00 \r\n \r\nAt June 30, 1998, payments due by fiscal year which includes principal and interest for these items are as follows: \r\n \r\nFiscal Year Ended June 30 \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\n1999 2000 2001 2002 2003 2004 - 2008 2009 - 2013 2014 - 2018 \r\n \r\n$ 1,856,126.26 1,877,203.76 1,897,263.76 1,913,155.01 1,944,917.51 4,945,906.30 5,151,597.54 2,136,606.26 \r\n \r\nTotal Principal and Interest \r\n \r\n$21,722,776.40 \r\n \r\n- 17- \r\n \r\n TIFT 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 6: ON-BEHALF PAYMENTS \r\n \r\nThe Board has recognized revenues and expenditures in the amount of$529,291.44 for health insurance and retirement contributions paid on the Board's behalfby the following State Agencies. \r\n \r\nGeorgia Department ofEducation Paid to the State Merit System ofPersonnel Administration For Health Insurance ofNon-Certified Personnel In the amount of $415,284.94 \r\n \r\nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of$41,308.50 \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 $72,698.00 \r\n \r\nNote 7: SIGNIFICANT COMMITMENTS \r\n \r\nThe following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1998, together with funding available: \r\n \r\nProject \r\n \r\nUnearned Executed Contracts \r\n \r\nFunding Available From State \r\n \r\n96-737-066 Tift County High School Performing Arts Center Tift County High School Physical Education Facility \r\n \r\n$ 2,175,821.53 1,424,870.72 582.820.00 \r\n \r\n$ 1,348,455.76 \r\n \r\n$.42183.512.25 $ L348.455.76 The amounts described in this note are not reflected inthe general purpose fiilancial 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 tenns. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \r\n \r\n- 18- \r\n \r\n TIFT 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 8: CONTINGENT LIABILITIES \r\n \r\nThe Board is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition of these proceedings is not presently determinable, but is not believed to be ~aterial 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\nIRS 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. IRS 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\nIRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by IRS are required by State statute to contribute 5% oftheir gross earnings to IRS. The Board makes monthly employer contributions to TRS at rates adopted by the IRS Board ofTrustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 11.81% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows: \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$ 2,697,623.69 $ 2,515,419.98 $ 2,346,498.05 \r\n \r\n- 19- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1998 \r\n \r\nASSETS Cash and Cash Equivalents Accounts Receivable Prepaid Items Inventories \r\nFood Donated Commodities Purchased Food \r\nTotal Assets \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY \r\n \r\nFEDERAL \r\n \r\nTOTALS \r\n \r\nPROGRAMS PROGRAMS JUNE 30, 1998 JUNE 30,1997 \r\n \r\n$ 870,287,08 \r\n \r\n$ 870,287,08 $ 1,006,460,29 \r\n \r\n216,572,52 $ 213,896,82 $ 433,964,76 \r\n \r\n864,434,10 \r\n \r\n663,240,04 \r\n \r\n6,405,00 \r\n \r\n6,405,00 \r\n \r\n62,383,08 14,127.77 \r\n \r\n62,383,08 14,127,77 \r\n \r\n33,556,32 12,795,09 \r\n \r\n$ 1,163,370.45 $ 213,896.82 $ 440,369,76 $ 1,817,637,03 $ 1,716,051,74 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Continuation of Federal Programs For Homeless Project For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ 146,326.48 $ 152,972.78 $ \r\n \r\n$ 10,846.30 \r\n \r\n18,820,01 \r\n \r\n62,046,27 \r\n \r\n101,749.12 \r\n \r\n46,536,78 \r\n \r\n187,644.90 \r\n \r\n2,213.55 \r\n \r\n24,269,84 \r\n \r\n$ 112,595.42 $ 213,896.82 $ 426,933.79 $ \r\n \r\n299,299.26 $ \r\n91,712,58 335,930,80 \r\n26,483,39 \r\n753,426,03 $ \r\n \r\n119,008.62 104,321,92 351,310,59 \r\n22,29 \r\n574,663.42 \r\n \r\n$ 62,383,08 \r\n14,127,77 \r\n974,264,18 $ \r\n$ 1,050,775,03 $ \r\n \r\n$ 6,672,28 $ \r\n6,763,69 \r\n \r\n6,672.28 $ \r\n6,763.69 \r\n \r\n14,652,47 9,916.65 \r\n \r\n0.00 \r\n0,00 $ \r\n \r\n62,383,08 14,127,77 \r\n \r\n33,556,32 12,795.09 \r\n \r\n0,00 \r\n \r\n974,264,18 \r\n \r\n1,070,467,79 \r\n \r\n13,435.97 $ 1,064,211,00 $ 1,141,388,32 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 1,163,370.45 $ 213,896,82 $ 440,369,76 $ 1,817,637.03 $ 1,716,051,74 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-20- \r\n \r\n TIFT 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\"P \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nFEDERAL PROGRAMS \r\n \r\nTOTALS YEAR ENDED JUNE 30,1998 JUNE 30,1997 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 1,050,n5.03 $ \r\n \r\n0..0..0. $ 13,435.97 $ 1,064,211.00 $ 1,141,388.32 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 21 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30,1998 \r\n \r\nASSETS Cash and Cash Equivalents Investments Accounts Receivable \r\nTotal Assets \r\n \r\nREGULAR \r\n \r\nBOND PROCEEDS \r\n \r\n$ \r\n \r\n128,512,77 $ \r\n \r\n1,131,272.99 \r\n \r\n4,213,875.78 \r\n \r\n$ \r\n \r\n128,512.77 $ \r\n \r\n5,345,148.77 \r\n \r\nTotal Liabilities and Fund Equity \r\nSee notes to the general purpose financial statements. -22 - \r\n \r\n$ \r\n \r\n128,512.77 $ \r\n \r\n5,345,148.77 \r\n \r\n EXHIBIT\"G\" \r\n \r\nGEORGIA STATE FINANCING AND \r\nINVESTMENT COMMISSION \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nJUNE 30,1998 \r\n \r\nJUNE 30,1997 \r\n \r\n$ \r\n \r\n321,017.62 $ 1,580,803.38 $ 2,551,345.29 \r\n \r\n$ \r\n \r\n1,802,722.40 \r\n \r\n2,183,428.05 \r\n \r\n8,200,026.23 \r\n \r\n11,249,885.70 \r\n \r\n1,248,570.68 \r\n \r\n849,106.23 \r\n \r\n2,097,676.91 \r\n \r\n41,342.00 \r\n \r\n$ \r\n \r\n3,051,293.08 $ 3,353,551.90 $ 11,878,506.52 $ 13,842,572.99 \r\n \r\n$ \r\n \r\n659,745.18 \r\n \r\n$ \r\n \r\n659,745.18 $ 2,046,669.39 \r\n \r\n18,280.81 $ \r\n \r\n107,338.74 \r\n \r\n125,619.55 \r\n \r\n2,000,000.00 \r\n \r\n709,419.02 \r\n \r\n485,576.32 \r\n \r\n1,194,995.34 \r\n \r\n1,353,084.43 \r\n \r\n124,358.15 \r\n \r\n348,990.98 \r\n \r\n473,349.13 \r\n \r\n1,728,645.71 \r\n \r\n$ \r\n \r\n1,511,803.16 $ \r\n \r\n941,906.04 $ 4,453,709.20 $ 5,128,399.53 \r\n \r\n$ 3,345,148.n $ 6,441,262.62 \r\n \r\n$ 2,411,645.86 \r\n \r\n2,411,645.86 \r\n \r\n$ \r\n \r\n1,539,489.92 \r\n \r\n1,539,489.92 \r\n \r\n2,374,301.19 \r\n \r\n0.00. \r\n \r\n-145,374.89 \r\n \r\n0.00 \r\n \r\n128,512.n \r\n \r\n43,984.54 \r\n \r\n$ \r\n \r\n1,539,489.92 $ 2,411,645.86 $ 7,424,797.32 $ 8,714,173.46 \r\n \r\n$ \r\n \r\n3,051,293.08 $ 3,353,551.90 $ 11,878,506.52 $ 13,842,572.99 \r\n \r\n- 23- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES \r\nCAPITAL PROJECTS FUND YEAR ENDED JUNE 30.1998 \r\n \r\nREVENUES \r\nState Funds Taxes Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Support Services Business Administration \r\nCapital Outlay Salaries Employee Benefits Travel of Employees Land and Land Improvements Building and Building Improvements Equipment \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES (USES) \r\nProceeds from General Obligation Bonds Par Value \r\nOperating Transfers In Operating Transfers Out \r\nTotal Other Financing Sources (Uses) \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFUND BALANCE JULY 1 \r\nFUND BALANCE JUNE 30 \r\nSee notes to the general purpose financial statements. -24 - \r\n \r\nREGULAR \r\n \r\nBOND PROCEEDS \r\n \r\n$ \r\n \r\n17,480.96 $ \r\n \r\n164,317.69 \r\n \r\n$ \r\n \r\n17,480.96 $ \r\n \r\n164,317.69 \r\n \r\n$ \r\n \r\n99,688.96 \r\n \r\n$ \r\n \r\n59,780.04 \r\n \r\n13,177.07 \r\n \r\n1,750.06 \r\n \r\n$ \r\n \r\n74,707.17 $ \r\n \r\n$ \r\n \r\n-57,226.21 $ \r\n \r\n99,688.96 64,628.73 \r\n \r\n$ \r\n \r\n5,000,000.00 \r\n \r\n$ \r\n \r\n154,317.17 \r\n \r\n275,576.73 \r\n \r\n-12,562.73 \r\n \r\n-8,436,319.31 \r\n \r\n$ \r\n \r\n141,754.44 $ -3,160,742.58 \r\n \r\n$ \r\n \r\n84,528.23 $ -3,096,113.85 \r\n \r\n43,984.54 \r\n \r\n6,441,262.62 \r\n \r\n$ \r\n \r\n128,512.77 $ \r\n \r\n3,345,148.77 \r\n \r\n EXHIBIT \"H\" \r\n \r\nGEORGIA STATE FINANCING AND \r\nINVESTMENT COMMISSION \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS \r\n \r\nYEAR ENDED \r\n \r\nJUNE 30, 1998 \r\n \r\nJUNE 30, 1997 \r\n \r\n$ \r\n \r\n2,618,955.05 \r\n \r\n$ 2,618,955.05 $ 7,353,304.31 \r\n \r\n$ 3,693,392.57 \r\n \r\n3,693,392.57 \r\n \r\n343,976.60 \r\n \r\n17,304.51 \r\n \r\n543,079.76 \r\n \r\n776,695.19 \r\n \r\n$ \r\n \r\n2,962,931.65 $ 3,710,697.08 $ 6,855,427.38 $ 8,129,999.50 \r\n \r\n$ \r\n \r\n99,688.96 \r\n \r\n$ \r\n \r\n154,602.89 \r\n \r\n-$ \r\n \r\n8,050,028.96 \r\n \r\n3,451,733.79 \r\n \r\n1,077,704.61 \r\n \r\n236,337.14 \r\n \r\n59,780.04 $ 13,177.07 1,750.06 154,602.89 11,501,762.75 1,314,041.75 \r\n \r\n53,000.04 11,882.00 1,299.09 42,601.53 15,356,708.81 52,283.90 \r\n \r\n$ \r\n \r\n9,127,733.57 $ 3,842,673.82 $ 13,144,803.52 $ 15,517,775.37 \r\n \r\n$ -6,164,801.92 $ \r\n \r\n-131,976.74 $ -6,289,376.14 $ -7,387,775.87 \r\n \r\n$ 5,000,000.00 \r\n \r\n$ \r\n \r\n5,484,307.82 $ 4,004,447.42 \r\n \r\n9,918,649.14 $ 6,101,062.74 \r\n \r\n-154,317.17 \r\n \r\n-1,315,449.93 \r\n \r\n-9,918,649.14 \r\n \r\n-5,301 ,062.74 \r\n \r\n$ \r\n \r\n5,329,990.65 $ 2,688,997.49 $ 5,000,000.00 $ \r\n \r\n800,000.00 \r\n \r\n$ \r\n \r\n-834,811.27 $ 2,557,020.75 $ -1,289,376.14 $ -6,587,775.87 \r\n \r\n2,374,301.19 \r\n \r\n-145,374.89 \r\n \r\n8,714,173.46 \r\n \r\n15,301,949.33 \r\n \r\n$ \r\n \r\n1,539,489.92 $ 2,411,645.86 $ 7,424,797.32 $ 8,714,173.46 \r\n \r\n- 25- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET DEBT SERVICE FUND JUNE 30, 1998 \r\n \r\nEXHIBIT\"'''' \r\n \r\nASSETS Cash and Cash Equivalents Accounts Receivable \r\n \r\nPROPERTY TAXES FOR \r\nBOND DEBT \r\n \r\nSPECIAL PURPOSE LOCAL OPTION SALES TAX \r\n \r\nTOTALS JUNE 30,1998 JUNE 30,1997 \r\n \r\n$ 274,604.77 \r\n \r\n$ \r\n \r\n1,114,99 $ \r\n \r\n1,016.97 $ \r\n \r\n2,131.96 \r\n \r\n23,657.88 \r\n \r\nTotal Assets \r\n \r\n$ \r\n \r\n1,114.99 $ \r\n \r\n1,016.97 $ \r\n \r\n2,131,96 $ \r\n \r\n29. .8.,2_6.2.,.65. \r\n \r\nLIABILITIES AND FUND EQUITY \r\n \r\nLIABILITIES \r\n \r\nCash Overdraft \r\n \r\n$ \r\n \r\n1,114.99 $ \r\n \r\nFUND EQUITY \r\n \r\nFund Balances Reserved For Debt Service Unreserved Undesignated \r\n \r\n$ \r\n \r\n0,00 $ \r\n \r\nTotal Fund Equity \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n1,016.97 $ \r\n \r\n2,131,96 $ \r\n \r\n0.00 \r\n \r\n0.00 $ 0.00 $ \r\n \r\n$ 0.00 0.00 $ \r\n \r\n298,262.65 0.00 \r\n298,262,65 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ \r\n \r\n1,114.99 $ \r\n \r\n1,016.97 $ \r\n \r\n2,131.96 $ _ ...2..9.8.,2.6..2.6..5. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-26- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES \r\nDEBT SERVICE FUND YEAR ENDED JUNE 30.1998 \r\n \r\nEXHIBIT \"J\"' \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ -=====2=9~8!s.26=2=.6==5 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-27- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nSCHEDULE \"lII' \r\n \r\nSCHEDULE OF REQUIRED SupPLEMENTARY INFORMATION \r\n \r\nYEAR 2000 DISCLOSURES \r\n \r\nYEAR ENDED JUNE 30. 1998 \r\n \r\nAt June 30, 1998, the Tift County Board of Education had no outstanding contractual commitments for the purpose ofmaking computer systems and other electronic equipment year 2000 compliant. The year 2000 issue is the result ofshortcomings in many electronic data processing systems and other equipment that make operations beyond year 1999 troublesome. The year 2000 issue is ofprimary concern for the Board's financial accounting system. The following stages have been identified as necessary to implement a year 2000 compliant systems. \r\nAwareness Stage - Encompasses establishing a budget and project plan for dealing with the year 2000 Issue. \r\nAssessment Stage - The actual process of identifying all of its systems and individual components of the systems to check for compliance. \r\nRemediation Stage - When changes are made to systems and equipment. \r\nValidationfTesting Stage - The process of ensuring that the changes made to systems and equipment will produce a year 2000 compliant system. \r\nIt will be necessary for the Board to progress through all four of these stages for each computer and/or electronic system, not already year 2000 compliant, in order to assure that these systems will not be adversely affected. As of June 30, 1998, the financial accounting system was detennined to be at the Awareness Stage. \r\nThe Board's financial accounting software (GENESIS) and hardware (Wang VS) are owned by the State (Georgia Department ofEducation). These systems have been detennined to be critical to the Board's ability to successfully conduct operations. As ofJune 30, 1998, the State had not contracted for the remediation of either the Wang VS operating system or the GENESIS accounting software. In the subsequent period, the Georgia Department of Education remediated the Wang VS operating system and the updated operating system was installed at all GENESIS sites as of December 9, 1998. The Georgia Department of Education has remediated the GENESIS software and conducted tests at nine pilot sites. The remediated GENESIS software has been provided to all boards of education currently utilizing the GENESIS accounting software. \r\n \r\nSee notes to the general purpose financial statements. - 28- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 30, 1998 \r\n \r\nSCHEDULE \"2\"' \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\nAgriculture, U. S, Department of Pass-Through From Georgia Department of Education Food and Nutrition Program Nutrition Education and Training Program 1997 Contract Food Services School Breakfast Program 1998 Grant National School Lunch Program 1998 Grant Food Distribution Program (1) \r\nTotal U. S, Department of Agriculture \r\nEducation, U. S. Department of Pass-Through From Berrien County Board of Education d/b/a Southern Pine Migrant Education Agency Elementary and Secondary Education Act Title I Migrant Education 1997 Summer 1998 Regular 1998 Summer Pass-Through From Georgia Department of Education Elementary and Secondary Education Act Title I Grants to Local Educational Agencies 1997 Summer 1998 Regular 1998 Summer Title II Eisenhower Professional Development 1998 Grant Title VI Innovative Education Program Strategies 1998 Grant Individuals with Disabilities Education Act Part B - Special Education Flow Through 1998 Grant Preschool 1996 Grant Special Projects 1998 Grant Safe and Drug-Free Schools 1996 Grant Vocational Education - Basic Grants to States High School Program Basic Grant 1996 Grant Tech-Prep Education 1997 Grant Stewart B. McKinney Homeless Assistance Act Education for Homeless Children and Youth 1998 Grant \r\nTotal U. S, Department of Education \r\n \r\nCFDA NUMBER \r\n \r\nPASSTHROUGH \r\nENTITY ID \r\nNUMBER \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n10.564 \r\n* 10.553 * 10.555 \r\n10,550 \r\n \r\nNlA $ \r\n \r\n2,116.00 \r\n \r\n(2) \r\n \r\nN/A \r\n \r\n417,376.64 \r\n \r\n(2) \r\n \r\nN/A \r\n \r\n1,135,753,99 $ 2,343,93326 (3) \r\n \r\nN/A \r\n \r\n168,193.46 \r\n \r\n168,193.46 \r\n \r\n$ 1,723,440,09 $ 2,512,126,72 \r\n \r\n84.011 84.011 84.011 \r\n \r\nN/A $ N/A N/A \r\n \r\n36,349.46 $ 96,774.88 35,808.03 \r\n \r\n36,349.46 96,774.88 35,808,03 \r\n \r\n* 84,010 \r\n \r\nN/A \r\n \r\n* 84.010 \r\n \r\nN/A \r\n \r\n* 84.010 \r\n \r\nN/A \r\n \r\n84.281 \r\n \r\nNlA \r\n \r\n84.298 \r\n \r\nNlA \r\n \r\n11,053.33 1,433,497.66 \r\n25,158.16 \r\n33,069.93 \r\n44,576.00 \r\n \r\n25,705.80 1,433,497.66 \r\n18,485.88 \r\n33,069.93 \r\n44,576.00 \r\n \r\n84.027 \r\n \r\nNlA \r\n \r\n84.173 \r\n \r\nN/A \r\n \r\n84.027 \r\n \r\nN/A \r\n \r\n84.186 \r\n \r\nNlA \r\n \r\n353,854.67 95,486.00 5,309.95 39,612.00 \r\n \r\n353,854.67 95,486.00 5,309.95 39,612.00 \r\n \r\n84.048 84.243 84,196 \r\n- 29- \r\n \r\nN/A \r\n \r\n70,607.57 \r\n \r\n119,979.20 (3) \r\n \r\nN/A \r\n \r\n3,825.00 \r\n \r\n11,755.19 (3) \r\n \r\nN/A \r\n \r\n23,572.00 \r\n \r\n26,724.96 (3) \r\n \r\n$ 2,308,554.64 $ 2,376,989.61 \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS \r\nYEAR ENDED JUNE 30, 1998 \r\n \r\nSCHEDULE \"2\"' \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\nOTHER FEDERAL ASSISTANCE \r\nDefense, U, S, Department of Direct Department of the Air Force R,O.T,C. Program 1998 Grant \r\n \r\nCFDA NUMBER \r\n \r\nPASSTHROUGH \r\nENTITY ID \r\nNUMBER \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n$ \r\n \r\n37,619.96 $ \r\n \r\n100,409.72 (3) \r\n \r\nTotal Federal Financial Assistance \r\n= N/A Not Available \r\n \r\n$ 4,069,614.69 $ \r\n \r\nNotes to the Sc:hedule of Expenditures of Federal Awards \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 Nutrition Education and Training Program and the Sc:hool Breakfast Program were not maintained separately and are induded in the 1997 National Sc:hool Lunc:h Program. \r\n(3) Expenditures for this program indude State, and/or Other Funds. Expenditures are not maintained by fund source. \r\n \r\nMajor Programs are identified by an asterisk (*) in front of the CFDA number. \r\n \r\nThe Board did not provide Federal Assistance to any SUbrecipient. \r\n \r\nThe accompanying sc:hedule of expenditures of Federal awards indudes the Federal grant activity of the Tift County Board of Education and is presented on the modified accrual basis of accounting whic:h is the same basis of accounting used in the presentation of the general purpose financial statements. \r\n \r\n4,989,526.05 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-30- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 1998 \r\n \r\nSCHEDULE w3w, \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 Limited English Speaking Special Instructional Assistance In-School Suspension Counselors Grades 4 and 5 Technology Training Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Ad Valorem Tax Adjustment Alternative Program Apprenticeship Program At-Risk Summer School Program Environmental Science Program Health Insurance Innovative Programs Mentoring Program Mentor Teacher Program Preschool Handicapped Program Remedial Summer School Program Special Education Low Incidence Grant Teachers'Retirement Lottery Program Alternative School Program \r\nGeorgia State Financing and Investment Commission Reimbursement on ConstructionProjeets \r\nOffice of School Readiness Pre-Kindergarten Program \r\nOffice of Treasury and Fiscal Services Public School Employees Retirement \r\nSee notes to the general purpose financial statements. \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 15,349,839.00 \r\n2,70~,O44.00 \r\n661,821.00 644,427.00 198,358.00 4,179,152.00 \r\n \r\n575,115.00 197,913.00 \r\n91,185.00 744,449.00 166,067.00 \r\n63,009.00 86,527.00 -2,968,095.00 1,496,930.00 \r\n480,684.27 \r\n \r\n$ 155,499.00 \r\n \r\n204,655.00 115,500.00 \r\n45,000.00 27,523.49 \r\n500.00 415,284.94 \r\n5,000.00 8,000.00 3,948.00 101,145.00 12,198.84 46,684.00 41,308.50 \r\n \r\n218,028.82 \r\n \r\n$ 15,349,839.00 \r\n2,703,044.00 661,821.00 644,427.00 198,358.00 \r\n4,179,152.00 \r\n575,115.00 197,913.00 \r\n91,185.00 744,449.00 166,067.00 \r\n63,009.00 86,527.00 -2,968,095.00 1,496,930.00 155,499.00 480,684.27 \r\n204,655.00 115,500.00 \r\n45,000.00 27,523.49 \r\n500.00 415,284.94 \r\n5,000.00 8,000.00 3,948.00 101,145.00 12,198.84 46,684.00 41,308.50 \r\n218,028.82 \r\n \r\n$ 2,618,955.05 \r\n \r\n2,618,955.05 \r\n \r\n427,241.16 \r\n \r\n427,241.16 \r\n \r\n72,698.00 \r\n \r\n72,698.00 \r\n \r\n$ 25,769,871.04 $ 800,768.98 $ 2,618,955.05. $ 29,189,595.07 \r\n \r\n- 31 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS \r\nYEAR ENDED JUNE 30. 1998 \r\n \r\nSCHEDULE \"4\" \r\n \r\nPROJECT \r\n \r\nORIGINAL ESTIMATED \r\nCOST (1) \r\n \r\nCURRENT ESTIMATED \r\nCOST (2) \r\n \r\nAMOUNT EXPENDED IN CURRENT \r\nYEAR (3) \r\n \r\nAMOUNT EXPENDED \r\nIN PRIOR YEARS \r\n \r\nThe repayment of principal and interest on the School District Series 1995 Bonds maturing February 1,1998, and thereafter; the acquisition, construction and equipping of an auditorium at the new high school; the completion of the new high school grounds and security; a new elementary school; improvements at J. T. Reddick School and Matt Wilson School; system-wide technology for all schools; and Annie Belle Clark School renovations for system-wide utilization, including the acquisition of all necessary property \r\n \r\n$ 32,000,000.00 $ 32,000,000.00 $ 4,537,708.77 $ \r\n \r\n145,374.89 \r\n \r\n(1) The Board's original cost estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax. \r\n(2) The Board's current estimate of total cost for each project. Includes all cost from project inception to completion. \r\n(3) The voters of Tift County approved the imposition of a 1% sales tax to fund the above project and to retire associated debt. Amounts expended for this project may include sales tax proceeds, state, local property taxes and/or other funds over the life of the project. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 32- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES LOTTERY PROGRAMS YEAR ENDED JUNE 30.1998 \r\n \r\nSCHEDULE \"5\" . \r\n \r\nEXPENDITURES \r\n \r\nALTERNATIVE SCHOOL PROGRAM \r\n \r\nPRE-KINDERGARTEN PROGRAM \r\n \r\nCurrent \r\n \r\nInstruction \r\n \r\n$ \r\n \r\nSupport Services \r\n \r\nPupil Services \r\n \r\nImprovement of Instructional Services \r\n \r\nGeneral Administration \r\n \r\nMaintenance and Operation of Plant \r\n \r\nStudent Transportation Services \r\n \r\nFacility Acquisition and Construction \r\n \r\nFood Services Operation \r\n \r\n216,421.93 $ \r\n1,606.89 \r\n \r\n330,082.51 $ \r\n55,638.41 1,349.09 \r\n26,384.14 6,464.76 6,358.00 \r\n964.25 \r\n \r\nTOTAL \r\n546,504.44 \r\n55,638.41 1,349.09 \r\n26,384.14 6,464.76 6,358.00 1,606.89 964.25 \r\n \r\nTotal Expenditures \r\n \r\n$ \r\n \r\n218,028.82 $ \r\n \r\n427,241.16 $ =====6::::;45=,2=6=:9.:=98= \r\n \r\nRECAP: Salaries and Benefits Pre-Kindergarten Program Other Expenditures Alternative School Program Pre-Kindergarten Program \r\n \r\n$ \r\n \r\n382,887.11 \r\n \r\n218,028.82 44,354.05 \r\n \r\n$ \r\n \r\n645,269.98 \r\n \r\nSee notes to the general purpose financial statements. - 33- \r\n \r\n TIFT 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 \"6\" . \r\n \r\nMinimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis \r\nSalaries Operations \r\nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment \r\nExpenditures per Audit \r\nAmount of Underexpenditure for Total Allotment \r\n \r\nFOURTEEN WEIGHTED AND MEDIA CENTER \r\nPROGRAMS \r\n \r\n100% TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS \r\n \r\n$ \r\n \r\n19,359,131.00 $ _ _.....;5=2~1,=39;;.;;;9;.;.;;.0;.;;..0 \r\n \r\n$ \r\n \r\n19,629,545.77 \r\n \r\n938,867.32 $ _ _--:..;77;.;.7.l.:,7..;;6.;.;1.;.;;.50,;. \r\n \r\n$ \r\n \r\n20,568,413.09 \r\n \r\n-262,839.65 $ _---=2::=0.!.:.3~05::..!.,5::.:7_=3.:..:.4...:..4 \r\n \r\n$ \r\n \r\n0.00 $======0.:::::00= \r\n \r\nSee notes to the general purpose financial statements. - 35 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1998 \r\n \r\nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \r\nTotal Staff Development Programs (*) Identifies Fourteen Weighted Programs. \r\nsee notes to the general purpose financial statements. \r\n \r\n$ \r\n \r\n57,556.00 \r\n \r\n$ \r\n \r\n57,556.00 $ \r\n \r\n0.00 \r\n \r\n140,802.00 \r\n \r\n140,802.00 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n198,358.00 100 $ \r\n \r\n198,358.00 $ =======O='O~O \r\n \r\n- 36 - \r\n \r\n SCHEDULE '7\" \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$ 1,458,097.20 $ 1,613,166.99 $ \r\n \r\n50,815.33 $ 1,663,982.32 \r\n \r\n3,932,881.20 \r\n \r\n3,896,486.04 \r\n \r\n125,108.97 \r\n \r\n4,021,595.01 \r\n \r\n$ 5,390,978.40 $ 5,509,653.03 $ \r\n \r\n175,924.30 $ 5,685,577.33 $ \r\n \r\n0.00 \r\n \r\n1,690,592.40 \r\n \r\n2,035,505.04 \r\n \r\n78,920.10 \r\n \r\n2,114,425.14 \r\n \r\n0.00 \r\n \r\n2,936,645.10 \r\n \r\n3,497,796.62 \r\n \r\n145,731.73 \r\n \r\n3,643,528.35 \r\n \r\n0.00 \r\n \r\n1,994,702.40 \r\n \r\n2,494,812.01 \r\n \r\n171,621.76 \r\n \r\n2,666,433.77 \r\n \r\n0.00 \r\n \r\n1,157,304.60 \r\n \r\n1,188,769.13 \r\n \r\n64,119.77 \r\n \r\n1,252,BBB.90 \r\n \r\n0.00 \r\n \r\n644,632.20 \r\n \r\n933,967.32 \r\n \r\n58,637.35 \r\n \r\n992,604.67 \r\n \r\n0.00 \r\n \r\n$ 13,814,855.10 $ 15,660,503.15 $ \r\n \r\n694,955.01 $ 16,355,458.16 \r\n \r\n$ 2,190,898.80 $ \r\n \r\n1,183,637.84 $ 1,039,395.46 \r\n15,964.64 7,458.41 \r\n \r\n23,143.51 $ 29,865.01 \r\n5,446.94 \r\n \r\n1,206,781.35 1,069,260.47 \r\n21,411.58 7,458.41 \r\n \r\n$ 2,190,898.80 $ 2,246,456.35 $ \r\n \r\n58,455.46 $ 2,304,911.81 \r\n \r\n0.00 \r\n \r\n241,840.80 \r\n \r\n364,116.82 \r\n \r\n6,368.31 \r\n \r\n370,485.13 \r\n \r\n0.00 \r\n \r\n$ 2,432,739.60 $ 2,610,573.17 $ \r\n \r\n64,823.77 $ 2,675,396.94 . \r\n \r\n$ \r\n \r\n595,638.90 $ \r\n \r\n612,308.62 $ \r\n \r\n17,982.72 $ \r\n \r\n630,291.34 \r\n \r\n0.00 \r\n \r\n$ 16,843,233.60 $ 18,883,384.94 $ \r\n \r\nm,761.50 $ 19,661,146.44 \r\n \r\n$ \r\n \r\n471,911.40 $ \r\n \r\n746,160.83 \r\n \r\n$ \r\n \r\n746,160.83 \r\n \r\n0.00 \r\n \r\n108,072.90 \r\n \r\n$ \r\n \r\n161,105.82 \r\n \r\n161,105.82 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n579,984.30 $ \r\n \r\n746,160.83 $ \r\n \r\n161,105.82 $ \r\n \r\n907,266.65 \r\n \r\n$ 17,423,217.90 $ 19,629,545.77 $ \r\n \r\n938,867.32 $ 20,568,413.09 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n57,556.00 \r\n \r\n140,802.00 \r\n \r\n$===1=9=8,.3..5..8.=:.0::0 \r\n \r\n$ \r\n \r\n151,771.94 $ \r\n \r\n151,771.94 \r\n \r\n46,682.12 \r\n \r\n46,682.12 \r\n \r\n$ \r\n \r\n198,454.06 $ \r\n \r\n198,454.06 $====-====,0=.0=0 \r\n \r\n 37  \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\nJune 9,1999 \r\n \r\nHonorable Roy E. Barnes, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Tift County Board ofEducation \r\nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the financial statements ofTift County Board ofEducation as of and for the year ended June 30, 1998, and have issued our report thereon dated June 9, 1999. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. \r\nWe did not observe the taking of either the Federal donated commodities inventory or the purchased foods inventory at June 30, 1998, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. \r\nCompliance \r\nAs part of obtaining reasonable assurance about whether Tift County Board of Education's financial statements are free of material misstatement, we perfonned tests ofits compliance with certain provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination offinancial statement amounts. However, providing an opinion on compliance with those provisions was not an objective ofour audit and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. \r\n \r\n98YB-40 \r\n \r\n Internal Control Over Financial Re.porting \r\nIn planning and perfonnmg our audit, we considered Tift County Board of Education's internal control over financial reporting in order to detennine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. However, we noted certain matters involving the internal control over financial reporting and its operation that we consider to be reportable conditions. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control over financial reporting that, in our judgement, could adversely affect Tift County Board of Education's ability to record, process, summarize and report financial data consistent with assertions of management in the financial statements. Reportable conditions are described in the accompanying Schedule ofFindiitgs and Questioned Costs as items FS-7371-98-01 and FS-7371-98-02. \r\nA material weakness is a condition in which the design or operation of one or more ofthe internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course ofperfonnmg their assigned functions. Our consideration ofthe internal control over financial reporting would not necessarily disclose all matters in the internal control that might be reportable conditions and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, ofthe reportable conditions described above, we considered item FS-7371-98-02 to be a material weakness. \r\nThis report is intended solely for the information and use ofmanagement, members ofthe Tift County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties. \r\nRe~ectfully submitted, \r\ntJ .\u003c1:1~ \r\nRussell W. Hinton State Auditor \r\nRWH:gp 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\nJune 9,1999 \r\n \r\nHonorable Roy E. Barnes, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Tift 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 Tift County Board of Education with the types of compliance \r\nrequirements described in the u.s. Office 01Management and Budget (OMB) Circular A-I33 Compliance \r\nSupplement that are applicable to each ofits major Federal programs for the year ended June 30, 1998. Tift County Board ofEducation's major Federal programs are identified in the accompanying Schedule ofFindings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility of Tift County Board of Education's management. Our responsibility is to express an opinion on Tift County Board of Education's compliance based on our audit. \r\nWe conducted our audit of compliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits olStates, 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 Tift 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 Tift County Board ofEducation's compliance with those requirements. \r\n \r\n98SA-40 \r\n \r\n In our opinion, the Tift County Board ofEducation complied, in all material respects, with the requirements referred to above that are applicable to each ofits major Federal programs for the year ended June 30, 1998. \r\nInternal Control Over Compliance \r\nThe management of Tift County Board ofEducation is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts and grants applicable to Federal programs. In planning and performing our audit, we considered Tift County Board of Education's internal control over compliance with requirements that could have a direct and material effect on a major Federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A133. \r\nWe noted certain matters involving the internal control over compliance and its operation that we consider to be reportable conditions. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control over compliance that, in our judgement, could adversely affect the Tift County Board ofEducation's ability to administer a major Federal program in accordance with applicable requirements of laws, regulations, contracts and grants. Reportable conditions are described in the accompanying Schedule ofFindings and Questioned Costs as items FA-737198-01 and FA-7371-98-02. \r\nA material weakness is a condition in which the design or operation of one or more ofthe internal control components does not reduce to a relatively low level ofrisk that noncompliance with applicable requirements oflaws, regulations, contracts and grants that would be material in relation to a major Federal program being audited may occur and not be detected within a timely period by employees in the nonnal course of performing their assigned functions. Our consideration of the internal control over compliance would not necessarily disclose all matters in the internal control that might be reportable conditions and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, we believe none of the reportable conditions described above is a material weakness. \r\nThis report is intended solely for the infonnation and use ofmanagement, members ofthe Tift County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties. \r\nRespectfully submitted, \r\n~4.~ /1).~ Russell W. Hinton State Auditor \r\nRWH:gp 98SA-40 \r\n \r\n SECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\nAUDITEE'S RESPONSE \r\nSUMMARy SCHEDULE OF PRIOR YEAR FINDINGS AND QlJESTIONED COSTS YEAR ENDED JUNE 30. 1998 \r\n \r\nPRIOR YEAR FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\n7371-93-01 FS-7371-97-01 \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-7371-97-01 \r\n \r\nThe Tift County Board ofEducation acknowledges this finding; however, due to staffing and budget limitations the Board is unable to establish controls and procedures to maintain a General Fixed Assets Account Group. \r\n \r\nPRIOR YEAR FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \r\n \r\nFINDING CONTROL NUMBER AND STATUS \r\n \r\n7371-96-01 7371-96-02 FA-7371-97-01 FA-7371-97-02 \r\n \r\nFurther Action Not Warranted Further Action Not Warranted Partially Resolved - See Corrective Action/Responses Partially Resolved - See Corrective Action/Responses \r\n \r\nCORRECTIVE ACTIONIRESPONSES \r\n \r\nEQUIPMENT AND REAL PROPERTY MANAGEMENT Inadequate Inventory Records Finding Control Number: FA-7371-97-01 \r\n \r\nThe Tift County Board ofEducation has reported that significant progress has been made to bring inventory records for the Individuals with Disabilities Education Act, Part B - Special Education Flow Through Program up to date and maintain in line with required property management standards. \r\n \r\nEQUIPMENT AND REAL PROPERTY MANAGEMENT Inadequate Inventory Records Finding Control Number: FA-7371-97-02 \r\n \r\nThe Tift County Board ofEducation has reported that significant progress has been made to bring inventory records for the Title I program up to date and maintain in line with required property management standards. \r\n \r\n SECTION IV FINDINGS AND QUESTIONED COSTS \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\nSCHEDULE OF FINDlNGS AND QUESTIONED COSTS \r\nYEAR ENDED JUNE 30. 1998 \r\n \r\nI SUMMARy OF AUDITOR'S RESULTS \r\n \r\n1. T}!pe of Report Issued on the Financial Statements The auditor's opinion on the Tift County Board ofEducation's financial statements was qualified for a scope limitation and for various departures from generally accepted accounting principles. \r\n \r\n2. Reportable Conditions in Internal Control Disclosed by the Audit ofthe Financial Statements The audit report for the Tift County Board of Education disclosed financial statement reportable conditions related to the following control categories. \r\n \r\nGeneral Ledger \r\n \r\nGeneral Fixed Assets \r\n \r\nAll ofthe reportable conditions described above are considered to be material weaknesses. \r\n \r\n3. Noncompliance Material to the Financial Statements The audit ofthe Tift County Board ofEducation disclosed no instances ofnoncompliance that were deemed to be material to the financial statements. \r\n \r\n4. Reportable Conditions in Internal Control Over Major Programs The audit report for the Tift County Board ofEducation disclosed reportable conditions in internal control over major programs for the following compliance requirement. \r\n \r\nEquipment and Real Property Management \r\n \r\nNone of the reportable conditions described above are considered to be a material weakness. \r\n \r\n5. T}!pe of Report Issued on Compliance for Major Programs The auditor's opinion on the Tift County Board of Education's report on compliance with requirements applicable to major programs was unqualified. \r\n \r\n6. Audit Findings Reqyjred to be Reported by Section .510(a) ofOMB Circular A-I33 The Tift County Board ofEducation's audit disclosed audit findings required to be reported by section \r\n.51O(a) ofOMB Circular A-I33. These audit findings are included in section N of this report. \r\n \r\n7. Major Programs Federal awards audited as major programs are as follows: 10.553 Food and Nutrition Program - Food Services - School Breakfast Program 10.55~ Food and Nutrition Program - Food Services - National School Lunch Program 84.010 Elementary and Secondary Education Act - Title I - Grants to Local Educational Agencies \r\n \r\n8. T}!pe \"A\" Program Dollar Threshold The dollar threshold for type \"A\" programs was $300,000.00. \r\n \r\n- 1- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS \r\nYEAR ENDED JUNE 30. 1998 \r\nI SUMMARy OF AUDITOR'S RESULTS \r\n9. Low Risk Auditee The Tift County Board ofEducation did not qualify as a low risk auditee as defined by Section .530 ofOMB Circular A-133. \r\nII FINANCIAL STATEMENT FINDINGS AND QUESTIONED COSTS \r\nGENERAL LEDGER Inadequate Accounting Procedures Reportable Condition Finding Control Number: FS-7371-98-01 \r\nThe Tift County Board ofEducation's accounting procedures were insufficient to provide for adequate internal control over the journal entry process. The following deficiencies were noted: \r\n(l) Journal entries were made to the accounting records without prior review and approval by an authorized individual. \r\n(2) Journal entries were not made in sequential order. \r\nProcedures should be implemented by the Tift County Board ofEducation to ensure that all journal entries are properly authorized by a responsible official and made in sequential order. \r\nGENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition - Material Weakness Repeated From Prior Year Finding Control Number: FS-7371-98-02 \r\nThe Tift County Board of Education did not establish a 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 incoIllplete 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\n-2- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\nSCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 3D. 1998 \r\nill FEDERAL AWARD FINDINGS AND QUESTIONED COSTS \r\nEQUIPMENT AND REAL PROPERTY MANAGEMENT Inadequate Inventory Records Reportable Condition Nonmaterial Noncompliance U.S. Department ofEducation Pass-Through From Georgia Department ofEducation Repeated From Prior Year Finding Control Number: FA-7371-98-01 \r\nProperty management records maintained by the Board for the Individuals with Disabilities Education Act, Part B - Special Education - Flow Through Program (CFDA 84.027) were incomplete and failed to meet property management standards as set forth in Chapter 41, of the Financial Management for Georgia Local Units ofAdministration (FMGLUA). \r\nThe inventory records as presented for audit did not contain a complete description of purchase amounts, purchase dates, vendors purchased from and funding sources for all items. This condition occurred because management failed to maintain equipment inventory records as set forth in FMGLUA. The Board should implement procedures to ensure that the equipment inventory records contain purchase amounts, purchase dates, vendors purchased from and funding sources for all items as required. \r\nEQUIPMENT AND REAL PROPERTY MANAGEMENT Inadequate Inventory Records Reportable Condition Nonmaterial Noncompliance U. S. Department of Education Pass-Through From Georgia Department ofEducation Repeated From Prior Year Finding Control Number: FA-7371-98-02 \r\nProperty management records maintained by the Board for.the Elementary and Secondary Education Act Title I - Grants to Local Educational Agencies Program (CFDA 84.010) were incomplete and failed to meet property management standards as set forth in Chapter 41, of the Financial Management for GeOI:gia Local Units ofAdministration (FMGLUA). \r\nThe inventory records as presented for audit did not contain complete descriptions, correct serial numbers and correct locatio~ of all items. This condition occurred because management failed to monitor equipment inventory records as set forth in FMGLUA. The Board should implement procedures to ensure that the equipment inventory records contain complete descriptions, correct serial numbers and correct locations of all items. \r\n-3- \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1996-h97","title":"Audit report, Tift County Board of Education, Tifton, Georgia, year ended June 30, 1997","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits.","Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Tift County, 31.45744, -83.52659"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1997-06-30"],"dcterms_description":["-year ended June 30, 1999.","Report year covers fiscal year.","Issued by the Georgia Dept. of Audits and Accounts, year ended June 30, 1996-year ended June 30, 1999","Has supplements: Supplementary information, Tift County Board of Education, Tifton, Georgia, summary and schedule of salaries and travel, -year ended June 30, 1998; Tift County Board of Education, Tifton, Georgia, schedule of salaries and travel, year ended June 30, 1999.","Year ended June 30, 1994 (online surrogate); title from PDF cover (Georgia Government Publications database, viewed July 20, 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":["Tift County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Tift County--Auditing--Periodicals.","Education--Georgia--Tift County--Finance--Statistics--Periodicals.","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Tift County Board of Education, Tifton, Georgia, year ended June 30, 1997"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1996-h97"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1996-h97"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":null},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1995-h96","title":"Audit report, Tift County Board of Education, Tifton, Georgia, year ended June 30, 1996","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits.","Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Tift County, 31.45744, -83.52659"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1996-06-30"],"dcterms_description":["-year ended June 30, 1999.","Report year covers fiscal year.","Issued by the Georgia Dept. of Audits and Accounts, year ended June 30, 1996-year ended June 30, 1999","Has supplements: Supplementary information, Tift County Board of Education, Tifton, Georgia, summary and schedule of salaries and travel, -year ended June 30, 1998; Tift County Board of Education, Tifton, Georgia, schedule of salaries and travel, year ended June 30, 1999.","Year ended June 30, 1994 (online surrogate); title from PDF cover (Georgia Government Publications database, viewed July 20, 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":["Tift County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Tift County--Auditing--Periodicals.","Education--Georgia--Tift County--Finance--Statistics--Periodicals.","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Tift County Board of Education, Tifton, Georgia, year ended June 30, 1996"],"dcterms_type":["Text"],"dcterms_provenance":["University of Georgia. Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1995-h96"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1995-h96"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"IGA \r\nI Ago() i  RI \r\nZjo \r\nIS \r\n/q Cf!)-qc, \r\nAUDIT REPORT TIFT COUNTY BOARD OF EDUCAnON \r\nTIFTON, GEORGIA YEAR ENDED JUNE 30, 1996 \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 WASHINGTON STREET \r\nATLANTA, GEORGIA 30334-8400 \r\n \r\n TWT 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\n4 \r\n \r\nC \r\n \r\nSTATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\n(NON-GAAP BASIS) \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n5 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n7 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING STATEMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nE \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n22 \r\n \r\nF \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n26 \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nG \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n30 \r\n \r\nH \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n32 \r\n \r\nSCHEDULES \r\n \r\n1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\n34 \r\n \r\n2 CASH AND CASH EQUIVALENTS \r\n \r\n36 \r\n \r\n3 INVESTMENTS \r\n \r\n37 \r\n \r\n4 ACCOUNTS RECEIVABLE \r\n \r\n38 \r\n \r\n5 DEBT SERVICE REQUIREMENTS TO MATURITY \r\n \r\n39 \r\n \r\nSCHEDULE OF REVENUE \r\n \r\n6 \r\n \r\nSTATE \r\n \r\n40 \r\n \r\n7 \r\n \r\nTAXES AND OTHER \r\n \r\n42 \r\n \r\n TWT 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\n8 \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n43 \r\n \r\n9 \r\n \r\nLOTTERY PROGRAMS \r\n \r\n44 \r\n \r\nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \r\n \r\n10 \r\n \r\nOVERALL \r\n \r\n47 \r\n \r\n11 \r\n \r\nBY PROGRAM \r\n \r\n48 \r\n \r\n12 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \r\n \r\n50 \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 ill \r\nINTERNAL CONTROL \r\nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nSINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\n \r\n TIFT 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 \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\nJuly 9,1997 \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 Tift 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 Tift 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 fmancial 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 perfonn the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall fmancial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \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 confonn to generally accepted accounting principles. \r\n96ARL-13 \r\n \r\n * School activity accounts maintained at the individual schools are not included in the general purpose \r\nfinancial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. \r\n* The Board did not recognize as expenditures, in the year ended June 30, 1996, a portion of salaries \r\nand the corresponding employer's cost ofrelated benefits earned for contractual services completed prior to June 30, 1996. Also funds received, subsequent to June 30, 1996, from the Georgia Department ofEducation for the State's share ofthese unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1995, were improperly recorded in the year ended June 30,1996. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \r\nThe aggregate effects on the general purpose 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 fmancial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the fmancial position of the Tift 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 9, 1997, on our consideration of the Board's internal control structure and a report dated July 9, 1997, on its compliance with laws and regulations. \r\nOur audit was conducted for the purpose of forming an opinion on the general purpose fmancial statements of the Tift County Board ofEducation taken as a whole. The combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 12 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 Tift 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 fmancial statements taken as a whole. \r\nA copy of this report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. \r\nRespectfully submitted, \r\n~ \r\nClaude L. Vickers State Auditor \r\nCLV:dt 96ARL-13 \r\n \r\n TIFT COUNTY BOARD OF EDUCAnON - 1- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET \r\nALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 1996 \r\n \r\nASSETS \r\nCash and Cash Equivalents \r\nInvestments \r\nAccounts Receivable \r\nInventories Food Donated Commodities Purchased Food \r\nAmount Available in Debt Service Fund \r\nAmount to be Provided in Future Years For Payment of: Bond Debt Capital Lease Agreements \r\n \r\nGENERAL FUND \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\n$ 1,530,716,20 $ 1,245,431:42 $ 380,637,64 \r\n \r\n1,806,994,n \r\n \r\n13,903,444,62 \r\n \r\n1n,51 0,79 \r\n \r\n332,620.82 \r\n \r\n1,686,141,70 \r\n \r\n34,546,90 11,780.06 \r\n \r\nTotal Assets \r\n \r\n$ 3,515,221.76 $ 1,624,379,20 $ 15,970,223.96 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nAccounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Unearned Lottery Funds Capital Lease Agreements General Obligation Bonds Payable \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Continuation of Federal Programs For Debt Service For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For Purposes of Bond Issue For State Capital Outlay Projects \r\nUnreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ 107,008,34 $ 161,555.10 $ \r\n \r\n20,072,88 \r\n \r\n5,400,00 \r\n \r\n325,373.42 \r\n \r\n4,186,88 \r\n \r\n242,939,51 \r\n \r\n405,262,24 \r\n \r\n$ \r\n \r\n112,408.34 $ \r\n \r\n491,115.40 $ _---=:;6,;;.;68:;.z;,2::.:;7...;.4;.;:;,6~3 \r\n \r\n$ \r\n \r\n22,306,02 \r\n \r\n34,546.90 11,780.06 \r\n$ \r\n \r\n10,565,395,66 4,676,534.19 \r\n \r\n$ \r\n \r\n68,632.98 $ 15,241,929.85 \r\n \r\n$ 3,402,813.42 \r\n \r\n1,064,630,82 \r\n \r\n60,019.48 \r\n \r\n$ 3,402,813.42 $ 1,133,263.80 $ 15,301,949.33 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 3,515,221.76 $ 1,624,379.20 $ 15,970,223.96 \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\nDEBT SERVICE \r\nFUND \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$ 279,004.64 \r\n \r\n$ 3,435,789.90 $ 2,513,080.70 \r\n \r\n15,710,439.39 17,902,075.95 \r\n \r\n14,712.05 \r\n \r\n2,210,985.36 \r\n \r\n506,759.09 \r\n \r\n34,546.90 11,780.06 \r\n \r\n16,505.98 11,504.23 \r\n \r\n$ \r\n \r\n293,716.69 \r\n \r\n293,716.69 \r\n \r\n51,641.83 \r\n \r\n10,606,283.31 476,715.77 \r\n \r\n10,606,283.31 476,715.77 \r\n \r\n10,893,358.17 603,269.52 \r\n \r\n$ 293,716.69 $ \r\n \r\n11,376,715.77 $ 32,780,257.38 $ 32,498,195.47 \r\n \r\n$ 288,636.32 $ 350,047.29 \r\n \r\n330,773.42 \r\n \r\n273,145.82 \r\n \r\n4,186.88 \r\n \r\n61,226.00 \r\n \r\n242,939.51 \r\n \r\n405,262.24 \r\n \r\n144,092.51 \r\n \r\n$ \r\n \r\n476,715.77 \r\n \r\n476,715.77 \r\n \r\n603,269.52 \r\n \r\n10,900,000.00 10,900,000.00 10,945,000.00 \r\n \r\n$ \r\n \r\n11,376,715.77 $ 12,648,514.14 $ 12,376,781.14 \r\n \r\n$ 293,716.69 \r\n$ 293,716.69 0.00 \r\n$ 293,716.69 \r\n \r\n$ \r\n \r\n22,306.02 $ \r\n \r\n293,716.69 \r\n \r\n885.40 51,641.83 31,327.10 \r\n \r\n34,546.90 11,780.06 10,565,395.66 4,676,534.19 \r\n \r\n16,505.98 11,504.23 10,293,680.05 5,082,909.29 \r\n \r\n$ 15,604,279.52 $ 15,488,453.88 \r\n \r\n4,527,463.72 \r\n \r\n4,632,960.45 \r\n \r\n$ 20,131,743.24 $ 20,121,414.33 \r\n \r\n$ 293,716.69 $ \r\n \r\n11,376,715.77 $ 32,780,257.38 $ 32,498,195.47 \r\n \r\n-3- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES \r\nALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1996 \r\n \r\nEXHIBIT\"B\" \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTALS (Memorandum Only) \r\nYEAR ENDED JUNE 30,1996 JUNE 30, 1995 \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Taxes and Other Funds \r\n \r\n$ 22,943,507.37 $ 940,184.28 $ \r\n \r\n37,011.95 3,686,244.39 \r\n \r\n6,828,605.35 \r\n \r\n469,773.31 \r\n \r\n3,338,567.52 877,394.13 $ \r\n \r\n$ 27,222,259.17 $ 22,596,620.08 \r\n \r\n3,723,256,34 \r\n \r\n3,604,523.65 \r\n \r\n754,294.14 \r\n \r\n8,930,066.93 \r\n \r\n6,874A67.98 \r\n \r\nTotal Revenues \r\n \r\n$ 29,809,124.67 $ 5,096,201.98 $ 4,215,961.65 $ 754,294.14 $ 39,875,582.44 $ 33,075,611.71 \r\n \r\nEXPENDITURES \r\n \r\nCunent \r\n \r\nInstruction \r\n \r\n$ \r\n \r\nSupport Services \r\n \r\nPupil Services \r\n \r\nImprovement of Instructional \r\n \r\nServices \r\n \r\nEducational Media Services \r\n \r\nGeneral Administration \r\n \r\nSchool Administration \r\n \r\nBusiness Administration \r\n \r\nMaintenance and Operation of Plant \r\n \r\nStudent Transportation Services \r\n \r\nCentral Support Services \r\n \r\nOther Support Services \r\n \r\nFood Services Operation \r\n \r\nOther Operations of Non-Instructional \r\n \r\nServices \r\n \r\nCapital Outlay \r\n \r\nDebt Service \r\n \r\nPrincipal \r\n \r\nInterest \r\n \r\n19,606,618.25 $ \r\n1,381,969.85 \r\n574,068,12 802,180.60 609,661.70 2,202,891.27 141,623,57 1,965,747.39 1,146,668,01 125,273,85 \r\n24,127,26 \r\n301,320.76 173,425,00 \r\n87,427.75 25,632.31 \r\n \r\n2,280,911,76 \r\n154,423,97 \r\n29,358.54 2,118,84 \r\n179,376.28 3,066,76 $ \r\n27,686.59 63,882.13 \r\n114,721.38 2,219,241.87 \r\n702.19 \r\n39,126.00 \r\n \r\n62,260.44 \r\n5,025,838.56 $ \r\n \r\n$ 21,887,530.01 $ 19,666,372.36 \r\n \r\n1,536,393.82 \r\n \r\n1,368,447.91 \r\n \r\n603,426.66 804,299,44 789,037.98 2,205,958,03 203,884,01 1,993,433.98 1,210,550.14 125,273.85 138,848.64 2,219,241.87 \r\n \r\n594,597.87 965,428.49 742,423.89 1,993,852,41 289,038.71 1,835,724.83 1,178,521.10 108,314.87 136,559,62 2,031,038.56 \r\n \r\n301,320,76 5,199,965.75 \r\n \r\n250,244.75 769,719.60 \r\n \r\n45,000.00 467,219.28 \r\n \r\n171,553.75 492,851.59 \r\n \r\n323,075.36 35,101.98 \r\n \r\nTotal Expenditures \r\n \r\n$ 29,168,635.69 $ 5,114,616.31 $ 5,088,099,00 $ 512,219.28 $ 39,883,570.28 $ 32,288A62.31 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ \r\n \r\n640,488.98 $ -18,414.33 $ -872,137.35 $ 242,074.86 $ \r\n \r\n-7,987.84 $ \r\n \r\n787,149.40 \r\n \r\nOTHER FINANCING SOURCES (USES) \r\n \r\nAccrued Interest on Bonds Sold \r\n \r\nProceeds from General Obligation Bonds \r\n \r\nPar Value \r\n \r\nOperating Transfers In \r\n \r\nOperating Transfers Out \r\n \r\n$ \r\n \r\n$ -817,713.85 \r\n \r\n20,216.51 $ \r\n \r\n797,497.34 \r\n \r\n$ \r\n \r\n27,687.06 \r\n \r\n10,945,000.00 \r\n \r\n$ \r\n \r\n817,713.85 \r\n \r\n803,697.31 \r\n \r\n-817.713.85 \r\n \r\n-803,697.31 \r\n \r\nTotal Other Financing Sources \r\n \r\n(Uses) \r\n \r\n$ \r\n \r\n-817.713.85 $ \r\n \r\n20,216.51 $ \r\n \r\n797A97,34 \r\n \r\n$ \r\n \r\n0.00 $ 10,972,687.06 \r\n \r\nExcess of Revenues and Other Financing \r\n \r\nSources over (under) Expenditures \r\n \r\nand Other Financing Uses \r\n \r\n$ \r\n \r\n-177,224.87 $ \r\n \r\n1,802.18 $ \r\n \r\n-74,640.01 $ 242,074.86 $ \r\n \r\n-7,987.84 $ 11,759,836.46 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n3,580,038.29 1,113,144.87 15,376,589.34 \r\n \r\n51,641.83 20,121,414.33 \r\n \r\n8,370,908.14 \r\n \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\n275.83 18,040.92 \r\n \r\n275.83 18,040.92 \r\n \r\n-7,852.84 -1A77.43 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 3,402,813.42 $ 1,133,263.80 $ 15,301,949.33 $ 293.716.69 $ 20,131.743.24 $ 20,121A14.33 \r\n \r\nthe The notes to general purpose financial statements are an integral part of this statement. \r\n-4- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nBUDGET AND ACTUAL CNON-GAAP BASIS} GENERAL AND SPECIAL REVENUE FUNDS \r\nYEAR ENDED JUNE 30,1996 \r\n \r\nEXHIBIT\"C\" \r\n \r\nGENERAL FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS) \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Taxes and Other Funds \r\n \r\n$ 22,436,268.35 $ 22,943,507.37 \r\n \r\n20,000.00 \r\n \r\n37,011.95 \r\n \r\n5,963,560.00 \r\n \r\n6,828,605,35 \r\n \r\nTotal Revenues \r\n \r\n$ 28,419,828.35 $ 29,809,124.67 \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services \r\nCapital Outlay Debt Service \r\n \r\n$ 19,654,716.81 $ 19,606,618,25 \r\n \r\n1,269,500.00 642,916.00 802,200.00 633,000.00 \r\n2,099,000.00 170,000.00 \r\n1,970,677.70 1,255,760.02 \r\n125,800.00 24,128.00 \r\n \r\n1,381,969.85 574,068.12 802,180.60 609,661.70 \r\n2,202,891.27 141,623.57 \r\n1,965,747.39 1,146,668.01 \r\n125,273.85 24,127.26 \r\n \r\n315,000.00 192,000.00 \r\n \r\n301,320.76 173,425.00 113,060.06 \r\n \r\nTotal Expenditures \r\n \r\n$ 29,154,698.53 $ 29,168,635.69 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ -734,870.18 $ 640,488.98 \r\n \r\nOTHER FINANCING SOURCESCUSES) \r\n \r\nOther Sources Other Uses \r\n \r\n$ \r\n \r\n10,000.00 \r\n \r\n-800,000.00 $ -817,713.85 \r\n \r\nTotal Other Financing Sources (Uses) \r\n \r\n$ -790,000.00 $ -817,713.85 \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -1,524,870.18 $ \r\n \r\n-177,224.87 \r\n \r\nFUND BALANCE JULY 1, 1995 \r\n \r\n2,872,083.65 \r\n \r\n3,580,038.29 \r\n \r\nAdjustments \r\n \r\n137,189.60 \r\n \r\nFUND BALANCE JUNE 30,1996 \r\n \r\n$ 1,484,403.07 $ 3,402,813.42 \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$ 876,588.00 $ 940,184.28 \r\n \r\n3,444,367.00 3,686,244.39 \r\n \r\n413,000.00 \r\n \r\n469,773.31 \r\n \r\n$ 4,733,955.00 $ 5,096,201.98 \r\n \r\n$ 2,054,580,80 $ 2,280,911.76 \r\n \r\n240,261.00 39,268.00 \r\n201,177.20 51,220.00 7,980.00 28,547.00 19,022.00 \r\n \r\n154,423.97 29,358.54 2,118.84 \r\n179,376.28 3,066.76 \r\n27,686.59 63,882.13 \r\n \r\n122,474.00 1,945,483.00 \r\n \r\n114,721.38 2,219,241.87 \r\n \r\n4,000.00 \r\n \r\n702.19 39,126.00 \r\n \r\n$ 4,714,013.00 $ 5,114,616.31 \r\n \r\n$ \r\n \r\n19,942.00 $ -18,414.33 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n20,216.51 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n20,216.51 \r\n \r\n$ \r\n \r\n19,942.00 $ \r\n \r\n1,802.18 \r\n \r\n1,309,286.75 1,085,134.66 \r\n \r\n-24,014.53 \r\n \r\n$ 1,305,214.22 $ 1,086,936.84 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -5- \r\n \r\n THIS PAGE LEFT BLANK \r\n \r\n TIFT 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\nThe Tift 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 Tift County Board of Education. \r\nBased upon the application ofthe above criteria, the Tift 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 Tift 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 abiiity 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 fmancial 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 fmancial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources. \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-7- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 3D. 1996 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances 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 ofa Board's educational activities. Governmental Fund Types include: \r\nGENERAL FUND - the fund used to account for all fInancial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. \r\nSPECIAL REVENUE FUND - the fund used to account for the proceeds ofspecifIc revenue sources (other than for major capital projects) that are legally restricted to expenditures for specifIed purposes. These funds are primarily received from the Georgia Department ofEducation and from the Federal government to accomplish specifIc objectives and are required to be accounted for separately. \r\nCAPITAL PROJECTS FUND - the fund used to account for fInancial resources to be used for the acquisition or construction of major capital facilities. \r\nDEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees. \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for general obligation bonds outstanding and material capital lease obligations. \r\nBASIS OF ACCOUNTING \r\nThe accounting and fmancial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current 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 fmancing 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\n-8- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 3D. 1996 \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 fimds. 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 fimd 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 ofthese contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As of June 30, 1996, compensation under these employment contracts had been earned, but two 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 fimds are received or disbursed. \r\nBUDGET \r\nThe Tift 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 fimding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental fimds is prepared by fimd, fimction and object. The legal level of budget control was established by the Board at the aggregate level. The budget for governmental fimds was prepared on a basis other than generally accepted accounting principles. \r\n \r\n- 9- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"0\" \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 ofthis tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This fmal 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\nSpecial Revenue \r\nFund \r\n \r\nFUND BALANCE JULY 1, 1995 \r\n \r\n$ 1,113,144.87 \r\n \r\nAdjustments Inventories - July 1, 1995 Food Donated Commodities Purchased Foods \r\n \r\n-16,505.98 -11,504.23 \r\n \r\nFund Balance July 1, 1995 (Budget Basis) \r\n \r\n$ 1,085,134.66 \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\n \r\n1,802.18 \r\n \r\nFUND BALANCE JUNE 30, 1996 (Budget Basis) \r\n \r\n$ 1.086.936.84 \r\n \r\nCASH AND CASH EQUIVALENTS \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\n- 10- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 3D. 1996 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nINVESTMENTS \r\nCOMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds. In selecting among avenues ofinvestment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following: . \r\n(1) Obligations issued by the State of Georgia or by other states, \r\n(2) Obligations issued by the United States government, \r\n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \r\n(4) Obligations of any corporation of the United States government, \r\n(5) Prime banker's acceptances, \r\n(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services, \r\n(7) Repurchase agreements, and \r\n(8) Obligations of other political subdivisions of the State of Georgia. \r\nRECEIVABLES \r\nReceivables consist of grant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose fmancial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \r\nPROPERTY TAXES \r\nThe Tift County Board of Commissioners fixed the property tax levy for the 1995 tax year (calendar year) on October 25, 1995 (levy date). Taxes were due on December 20, 1995. 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 of GASB codification section \r\n \r\n- 11 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXInBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nP70.1 03. The Tift County Tax Commissioner bills and collects the property taxes for the Board ofEducation, withholds 2.5% oftaxes collected as a fee for tax collection and remits the balance of taxes collected to the Board. \r\n \r\nTax millage rates levied for the 1995 tax year (calendar year) for the Tift County Board of Education were as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations School Bonds \r\n \r\n11.75 mills 1.50 mills \r\n \r\n.ll.25. mills \r\n \r\nINVENTORIES \r\n \r\nFOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which indicates that these amounts do not constitute \"available spendable resources\" even though they are a component of net current assets. \r\n \r\nGENERAL OBLIGATION BONDS \r\n \r\nThe Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond premiums and discounts, as well as issuance costs, are recognized during the year bonds are issued. Issuance costs, whether or not withheld from actual net proceeds, are reported as capital project expenditures. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount ofthese bonds is recorded in the General Long-Term Debt Account Group. \r\n \r\nINTERFUND TRANSACTIONS \r\n \r\nThe Board has the following types of interfund transactions: \r\n \r\nReimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. \r\n \r\nOperating transfers are recorded for all interfund transactions other than reimbursements. \r\n \r\n- 12- \r\n \r\n TIFT 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\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 AND INVESTMENTS \r\nCOLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value 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 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 ofthe State of Georgia, \r\n(5) Bonds of any public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \r\n(6) Industrial revenue bonds and 'bonds of development authorities created by the laws of the State of Georgia, and \r\n \r\n- 13- \r\n \r\n TIFT 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 AND INVESTMENTS \r\n \r\n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \r\n \r\nCATEGORIZATION OF DEPOSITS At June 30, 1996, the bank balances were $6,056,391.19. The amounts of the total bank balances are classified into three categories of credit risk: \r\n \r\nCategory 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. \r\nCategory 2 - Cash collateralized with securities held by the pledging fmancial institution's trust department or agent in the Board's name. \r\nCategory 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) \r\n \r\nThe Board's deposits are classified by risk category at June 30, 1996, as follows: \r\n \r\nRisk Category \r\n1 2 3 \r\nTotal \r\n \r\nBank Balance \r\n$ 426,581.12 5,629,810.07 0.00 \r\n$ 6.056.391.19 \r\n \r\nCATEGORIZATION OF INVESTMENTS At June 30, 1996, the carrying amount of the Board's total investments was $15,710,439.39 and consisted entirely of funds in the Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services which are not required to be categorized since the Board did not own any specific identifiable securities in the pool. The investment policy ofthe State of Georgia, Office of Treasury and Fiscal Services for the Local Government Investment Pool does not provide for investment in derivatives or similar investments. \r\n \r\nNote 3: NON-MONETARY TRANSACTIONS \r\n \r\nThe Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \r\n \r\n- 14- \r\n \r\n TIFT 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 is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster and unemployment compensation. \r\n \r\nThe Board has obtained commercial insurance for risk ofloss associated with torts, assets, errors or omissions and job related illness or injuries to employees. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any 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 natural disaster in the past three years. \r\n \r\nThe Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the same fund that the employee's salary and benefits were paid. Claims are accounted for with expenditure and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. \r\n \r\nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \r\n \r\n1995 1996 \r\n \r\nBeginning of Year Liability \r\n \r\nClaims and Changes in Estimates \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\n4.246.00 $ \r\n \r\nClaims Paid \r\n \r\nEnd ofYear Liability \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n4,246.00 $ \r\n \r\n0.00 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCAPITAL LEASES The Tift County Board of Education has entered into a lease agreement as lessee for equipment. This lease agreement qualifies as a capital lease for accounting purposes and, therefore, has been recorded at the present value of the future minimum lease payments as of the date of its inception. \r\n \r\nGENERAL OBLIGATION BONDS OUTSTANDING General Obligation Bonds currently outstanding are as follows: \r\n \r\nPurpose \r\n \r\nInterest Rates \r\n \r\nAmount \r\n \r\nGeneral Government - Series 1995 \r\n \r\n4.30% - 6.125% $ 10,900,000.00 \r\n \r\n- 15 - \r\n \r\n TIFT 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\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1996, were as follows: \r\n \r\nBalance July 1, 1995 \r\nDeductions Payments \r\nBalance June 30, 1996 \r\n \r\nCapital Leases \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\nTotal \r\n \r\n$ 603,269.52 $ 10,945,000.00 $ 11,548,269.52 \r\n \r\n126,553.75 \r\n \r\n45,000.00 \r\n \r\n171,553.75 \r\n \r\n$ 476.715,77 $ 10.900.000.00 $ 11.376.715.77 \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\nFiscal Year Ended June 30 \r\n \r\nCapital Leases \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\nTotal Debt \r\n \r\n1997 1998 1999 2000 2001 2002 and thereafter \r\n \r\n$ 248,696.57 $ 886,023.76 $ 1,134,720.33 \r\n \r\n250,742.48 \r\n \r\n899,098.76 1,149,841.24 \r\n \r\n910,468.76 \r\n \r\n910,468.76 \r\n \r\n920,348.76 \r\n \r\n920,348,76 \r\n \r\n933,688.76 \r\n \r\n933,688.76 \r\n \r\n14,139,087.62 14,139,087.62 \r\n \r\nTotal Principal and Interest \r\n \r\n$ 499,439,05 $ 18.688.716.42 $ 19.188.155.47 \r\n \r\nDeduct: Imputed Interest \r\n \r\n22,723,28 \r\n \r\nNet Present Value of Future Minimum Lease Payments \r\n \r\n$ 476.715.77 \r\n \r\nNote 6: ON-BEHALF PAYMENTS \r\n \r\nThe Board has recognized revenues and expenditures in the amount of $504,863.54 for health insurance and retirement contributions paid on the Board's behalf by the following State Agencies, \r\n \r\nGeorgia Department of Education Paid to the State Merit System of Personnel Administration For Health Insurance of Non-Certified Personnel In the amount of $405,276,39 \r\n \r\n- 16- \r\n \r\n TIFT COUNTY BOARD OF EDUCAnON \r\n \r\nEXIllBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 6: ON-BEHALF PAYMENTS \r\n \r\nPaid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $28,736.15 \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 $70,851.00 \r\n \r\nNote 7: SIGNIFICANT COMMITMENTS \r\n \r\nThe following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1996, together with funding available: \r\n \r\nProject \r\n \r\nUnearned Executed Contracts \r\n \r\nFunding Available From State \r\n \r\n94/94S-737-055 94/94S-737-056 97/96S-73 7-044 \r\n \r\n$ 164,374.04 $ 93,268.00 \r\n \r\n159,039.05 \r\n \r\n41,342.00 \r\n \r\n19,241,480.60 7,760,010.48 \r\n \r\n$ 19.564.893.69 $ 7.894.620.48 \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 various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition of these proceedings is not presently determinable, but is not believed to be material to the general purpose financial statements. \r\n \r\nNote 9: SUBSEQUENT EVENTS \r\n \r\nOn March 18, 1997, the voters of Tift County voted in favor of a Special Purpose Local Option Sales Tax referendum for education purposes. The imposition ofthe tax approved by the voters, as stated on the Official Ballot of Tift County, is as follows: \r\n \r\n- 17 - \r\n \r\n , TIFT 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\nNore9: SUBSEQUENTEVENTS \r\n\"Shall a special one percent sales and use tax be imposed in Tift County for a period of time not to exceed 20 calendar quarters and for the raising of not more than $32,000,000 for the purpose of funding the repayment ofprincipal and interest on the School District's Series 1995 Bonds maturing February 1, 1998, and thereafter, and (ii) the acquisition, construction and equipping of an auditorium at the new high school, the completion ofthe new high school grounds and security, a new elementary school, improvements at J. T. Reddick School and Matt Wilson School, systemwide technology for all schools and Annie Belle Clark School renovations for systemwide utilization, including the acquisition of all necessary property? If imposition of the tax is approved by the voters, such vote shall also constitute approval of the issuance of general obligation debt of Tift County School District in the pnncipal amount of $5,000,000 for the above purposes?\" \r\nNote 10: RETIREMENT PLANS \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retireme~t system (PERS). \r\nTRS provides service retirement, disability retirement and' survivors benefits for its members in accordance with State statute. A member is eligible for service retirement after 30 years of creditable service, regardless of age, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \r\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 ofdeath on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death. \r\nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest. \r\n \r\n- 18 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXlllBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1996 \r\n \r\nNote 10: RETIREMENT PLANS \r\n \r\nThe Board's payroll for employees covered by TRS for the year ended June 30, 1996, was $19,868,738.41; total payroll was $22,147,519.46. \r\n \r\nTRS CONTRIBUTIONS REQUIRED AND MADE \r\nEmployees ofthe Board who are covered by TRS are required by State statute to contribute 5% of their gross \r\nearnings 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 $3,339,758.85, of which $2,346,498.05 was made by the Board and $993,260.80 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll. \r\n \r\nTRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No.5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure of the pension benefit obligation was adopted by the GASB to enable readers of PERS fmancial 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\nThe measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1995. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers. \r\n \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 $2,346,498.05 was actuarially determined and represented .3864% oftotal contributions made by all participating employers. \r\n \r\n- 19- \r\n \r\n TIFT 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 10: RETIREMENT PLANS \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 ofGeorgia (PSERS). All employer's contributions are made by the State of Georgia in accordance with State statute. \r\nPSERS provides, in accordance with State statute, service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years of service and attainment of age 65. A member applying for service retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number ofyears ofcreditable 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 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. If there are more than ten years of service, the beneficiary shall receive for life half ofwhat the employee would have received upon retirement. \r\nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest. \r\nThere were 179 employees covered under PSERS for the year ended June 30, 1996. \r\nPSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1996 amounted to $5,952.00. 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\n \r\n- 20- \r\n \r\n TIFT COUNTY BOARD OF EDUCAnON \r\n \r\nEXlllBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30. 1996 \r\n \r\nNote 11: SURETYBONDS \r\nThe School Superintendent, Dr. Daniel Lee McIntyre, is bonded in the amount of $100,000.00 with the Hartford Insurance Company, H~ord, Connecticut, their Bond No. 4669932, on which premium was paid through July 1, 1996. \r\n \r\n- 21 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30,1996 \r\n \r\nASSETS Cash and Cash Equivalents Accounts Receivable Inventories \r\nFood Donated Commodities Purchased Food \r\nTotal Assets \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nSTATE PRESCHOOL HANDICAPPED \r\nPROGRAM \r\n \r\n$ 1,207,800,02 $ 10,482,55 $ \r\n \r\n0.00 \r\n \r\n23,065,19 \r\n \r\n34,003,00 \r\n \r\n34,546,90 11,780.06 \r\n \r\n$ 1,277,192.17 $ 44,485.55 $ \r\n \r\n0.0.._0 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Unearned Lottery Funds \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food \r\nUnreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ 71,230.67 $ 14,575.67 \r\n \r\n95,003.72 \r\n \r\n29,909.88 \r\n \r\n$ 166,234.39 $ 44,485.55 \r\n \r\n$ 34,546.90 \r\n11,780.06 \r\n \r\n$ 46,326.96 \r\n \r\n1,064,630.82 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n$ 1,110,957.78 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 1,277,192.17 $ 44,485.55 $ = =...........0.....0..0... \r\n \r\nSee notes to the general purpose financial statements. \" \r\n \r\n- 22- \r\n \r\n EXHIBIT\"E\" Page 1 \r\n \r\nEDUCATION OF CHILDREN WITH \r\nDISABILITIES \r\n \r\nELEMENTARY AND SECONDARY EDUCATION ACT \r\n \r\nTITLE I \r\n \r\nGRANTS TO \r\n \r\nTITLE II \r\n \r\nLOCAL \r\n \r\nEISENHOWER \r\n \r\nEDUCATIONAL \r\n \r\nMIGRANT \r\n \r\nPROFESSIONAL \r\n \r\nAGENCIES \r\n \r\nEDUCATION DEVELOPMENT \r\n \r\nTITLE VI INNOVATIVE EDUCATION PROGRAM STRATEGIES \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n52,354.54 \r\n \r\n$ \r\n \r\n8,365.13 $ \r\n \r\n0.00 \r\n \r\n177,485.76 $ 29,513.27 \r\n \r\n$ \r\n \r\n0.00 $ 229,840.30 $ 29,513.27 $ \r\n \r\n8,365.13 $ \r\n \r\n...0...0..0.. \r\n \r\n$ 19,920.59 \r\n \r\n$ \r\n \r\n60,184.68 \r\n \r\n1,943.00 \r\n \r\n165,211.62 \r\n \r\n7,642.48 \r\n \r\n3,939.11 \r\n \r\n7.20 \r\n \r\n$ 229,335.41 $ 29,513.27 \r\n \r\n$ \r\n \r\n504.89 \r\n \r\n$ \r\n \r\n8,365.13 \r\n \r\n$ \r\n \r\n504.89 \r\n \r\n$ \r\n \r\n8,365.13 \r\n \r\n$ \r\n \r\n..;;;.;O.;.;;.OO~ \r\n \r\n0.00 $ \r\n \r\n....;;.O....;;..O~O \r\n \r\n0.00 $ \r\n \r\n. . .;0. . .;.0;. ; ;.,.0 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n504.89 $ \r\n \r\n0.00 $ \r\n \r\n8,365.13 $ \r\n \r\n. . .;:0;.;.;.0;.::. 0 \r\n \r\n$ \r\n \r\n0.00 $ 229,840.30 $ 29,513.27 $ _ _==-'8,.3..6._5_.1.3.. $ ..... \r\n \r\n0..0.0.0= \r\n \r\n- 23- \r\n \r\n ASSETS Cash and Cash Equivalents Accounts Receivable Inventories \r\nFood Donated Commodities Purchased Food \r\nTotal Assets \r\n \r\nTIFT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1996 \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\nSAFE AND DRUG-FREE SCHOOLS \r\n \r\n$ \r\n \r\n0,00 \r\n \r\n$ 45,169,60 $ \r\n \r\n23,384,00 \r\n \r\n$ 45,169,60 $ \r\n \r\n23,384,00 $ _ _...0._,0.0... \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 45,169,60 $ \r\n \r\nSee notes to the general purpose financial statements, \r\n \r\n- 24- \r\n \r\n23,384,00 $ =========0=,0=0= \r\n \r\n EXHIBIT\"E\" Page 2 \r\n \r\nVOCATIONAL EDUCATION \r\nFEDERAL \r\n \r\nEDUCATION FOR HOMELESS CHILDREN AND YOUTH \r\n \r\nTOTALS JUNE 30, 1996 JUNE 30, 1995 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n18,206.27 $ 1,297,208.51 $ 1,350,394.63 \r\n \r\n332,620.82 \r\n \r\n381,219.97 \r\n \r\n34,546.90 11,780.06 \r\n \r\n16,505.98 11,504.23 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n18,206.27 $ 1,676,156.29 $ 1,759,624.81 \r\n \r\n$ \r\n \r\n51,777.09 $ \r\n \r\n78,469.32 \r\n \r\n$ \r\n \r\n1,121.43 \r\n \r\n161,555.10 \r\n \r\n90,727.12 \r\n \r\n3,648.84 \r\n \r\n325,373.42 \r\n \r\n272,675.76 \r\n \r\n4,186.88 \r\n \r\n60,515.23 \r\n \r\n144,092.51 \r\n \r\n$ \r\n \r\n4,770.27 $ 542,892.49 $ 646,479.94 \r\n \r\n$ \r\n \r\n13,436.00 $ \r\n \r\n22,306.02 $ \r\n \r\n885.40 \r\n \r\n34,546.90 11,780.06 \r\n \r\n16,505.98 11,504.23 \r\n \r\n$ \r\n \r\n13,436.00 $ \r\n \r\n68,632.98 $ \r\n \r\n28,895.61 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n0.00 1,064,630.82 1,084,249.26 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n13,436.00 $ 1,133,263.80 $ 1,113,144.87 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n18,206.27 $ 1,676,156.29 $ 1,759,624.81 \r\n \r\n- 25- \r\n \r\n TIFT 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\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 Maintenance and Operation of Plant Student Transportation Services Other Support Services Food Services Operation \r\nCapital Outlay Debt Service \r\nPrincipal \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES \r\nOperating Transfers In \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures \r\nFUND BALANCE JULY 1 \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nSTATE PRESCHOOL HANDICAPPED \r\nPROGRAM \r\n \r\n$ 169,054.00 $ 1,573,912.72 456,337.31 \r\n \r\n688,667.28 $ \r\n \r\n$ 2,199,304.03 $ 688,667.28 $ \r\n \r\n82,463.00 82,463.00 \r\n \r\n$ 565,275.80 $ \r\n \r\n42,728,75 3,445.26 \r\n \r\n6,128.12 \r\n \r\n$ 2,218,922.47 \r\n \r\n21,894.89 47,212,19 \r\n1,504.84 319.40 702,19 \r\n \r\n82,463.00 \r\n \r\n$ 2,218,922.47 $ 689,211.44 $ \r\n \r\n$ -19,618.44 $ \r\n \r\n-544.16 $ \r\n \r\n82,463.00 0.00 \r\n \r\n544.16 \r\n \r\n$ -19,618.44 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n1,112,259.47 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n275,83 18,040.92 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 1,110,957.78 $ \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 26- \r\n \r\n0.00 $ \r\n \r\n......0....0....0... \r\n \r\n EXHIBIT\"F\" Page 1 \r\n \r\nEDUCATION OF CHILDREN WITH \r\nDISABILITIES \r\n \r\nELEMENTARY AND SECONDARY EDUCATION ACT \r\n \r\nTITLE I \r\n \r\nGRANTS TO \r\n \r\nTITLE II \r\n \r\nLOCAL \r\n \r\nEISENHOWER \r\n \r\nEDUCATIONAL MIGRANT \r\n \r\nPROFESSIONAL \r\n \r\nAGENCIES \r\n \r\nEDUCATION. DEVELOPMENT \r\n \r\nTITLE VI INNOVATIVE EDUCATION PROGRAM STRATEGIES \r\n \r\n$ \r\n \r\n309.13 $1,368,796.38 $ 114,783.79 $ \r\n \r\n30,656.00 $ \r\n \r\n51,545.00 \r\n \r\n$ \r\n \r\n..::;;30=.::9:..:...;.1~3 $ 1,368,796.38 $ 114,783.79 $ \r\n \r\n30,656.00 $ \r\n \r\n5--'1,_54. . ;.5. . ;;.0. . ;. .0 \r\n \r\n$ \r\n \r\n309.13 $ 1,117,824.60 $ 114,783.79 \r\n \r\n$ \r\n \r\n12,302.80 \r\n \r\n2,666.43 2,118.84 114,196.58 3,066.76 4,001.74 11,200.00 113,216.54 \r\n \r\n$ \r\n \r\n23,096.85 \r\n \r\n79.42 \r\n \r\n116.20 \r\n \r\n39,126.00 \r\n \r\n$ \r\n \r\n..::;;30=.::9:..:...;.1~3 $ 1,368,291.49 $ 114,783.79 $ \r\n \r\n23,176.27 $ _ _..;;;.51..;.:,.54.;.....;.::;5.:.;;.0~0 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n504.89 $ \r\n \r\n0.00 $ \r\n \r\n7.479.73 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n504.89 $ \r\n \r\n0.00 $ \r\n \r\n7,479.73 $ \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n885.40 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n504.89 $ \r\n \r\n0.00 $ \r\n \r\n8.365.13 $ -====-==.....=0.,;,;.0.0 \r\n \r\n- 27- \r\n \r\n TIFT 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\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 Maintenance and Operation of Plant Student Transportation Services Other Support Services Food Services Operation \r\nCapital Outlay Debt Service \r\nPrincipal \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expenditures \r\nOTHER FINANCING SOURCES \r\nOperating Transfers In \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures \r\nFUND BALANCE JULY 1 \r\nFood Inventory - Net Change in Period Donated Commodities Purchased Food \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\nSAFE AND DRUG-FREE SCHOOLS \r\n \r\n$ 304,929,03 $ $ 304,929.03 $ \r\n \r\n94,884,00 $ 33,089.00 94,884,00 $ 33,089,00 \r\n \r\n$ 193,237.76 $ 48,501,26 150,00 57,570,07 \r\n5,469.94 \r\n \r\n77,533,56 14,407,59 $ \r\n \r\n32,956,00 \r\n \r\n1,152,89 1,789.96 \r\n \r\n133,00 \r\n \r\n$ 304,929.03 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n94,884.00 $ 0.00 $ \r\n \r\n33,089.00 0.00 \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\n0,00 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 28- \r\n \r\n0.00 $ \r\n \r\n0,00 $ \r\n \r\n0,;,,,;.0.;.,0 \r\n \r\n EXHIBIT\"F\" Page 2 \r\n \r\nVOCATIONAL EDUCATION \r\nFEDERAL \r\n \r\nEDUCATION FOR HOMELESS CHILDREN AND YOUTH \r\n \r\nTOTALS YEAR ENDED JUNE 30, 1996 JUNE 30,1995 \r\n \r\n$ 96,447.72 $ $ 96,447.72 $ \r\n \r\n$ 16,891.62 13,436.00 \r\n \r\n940,184.28 $ 1,209,735.08 \r\n \r\n3,686,244.39 3,520,511.07 \r\n \r\n469,773.31 \r\n \r\n453,877.98 \r\n \r\n30,327.62 $ 5,096,201.98 $ 5,184,124.13 \r\n \r\n$ 116,120.07 $ \r\n$ 116,120.07 $ $ -19,672.35 $ \r\n \r\n1,061.25 $ 2,280,911.76 $ 1,962,684.28 \r\n \r\n15,830.37 \r\n \r\n154,423.97 29,358.54 \r\n2,118.84 179,376.28 \r\n3,066.76 27,686.59 63,882.13 114,721.38 2,219,241.87 \r\n702.19 \r\n \r\n179,773.74 19,938.03 \r\n265,463.36 196,096.53 \r\n3,939.19 78,209.63 37,942.39 116,866.54 2,031,038.56 45,104.71 \r\n \r\n39,126.00 \r\n \r\n139,956.64 \r\n \r\n16,891.62 $ 5,114,616.31 $ 5,077,013.60 \r\n \r\n13,436.00 $ -18,414.33 $ 107,110.53 \r\n \r\n19,672.35 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n20,216.51 \r\n \r\n1,194.65 \r\n \r\n13,436.00 $ \r\n \r\n1,802.18 $ 108,305.18 \r\n \r\n0.00 1,113,144.87 1,014,169.96 \r\n \r\n275.83 18,040.92 \r\n \r\n-7,852.84 -1,477.43 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n13,436.00 $ 1,133,263.80 $ 1,113,144.87 \r\n \r\n- 29- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30, 1996 \r\n \r\nASSETS Cash and Cash Equivalents Investments Accounts Receivable \r\nTotal Assets \r\n \r\nREGULAR \r\n \r\n1995 BOND ISSUE \r\nFUND \r\n \r\nPROJECT 92/92S-737-080 \r\n \r\nGEORGIA PROJECT 94/94S-737-055 \r\n \r\n$ 60,019,48 $ \r\n \r\n14,529.33 $ \r\n \r\n0.00 $ \r\n \r\n415,332.59 \r\n \r\n10,550,866.33 \r\n \r\n127,416.91 \r\n \r\n$ 60,019.48 $ 10,565,395.66 $ \r\n \r\n0.00 $ ......=====54;,,;.;2...7.4.=9..5...0.. \r\n \r\nLIABILITIES AND FUND EQUITY \r\n \r\nLIABILITIES \r\n \r\nCash Overdraft Accounts Payable Contracts Payable Retainages Payable \r\n \r\nTotal Liabilities \r\n \r\nFUND EQUITY \r\n \r\nFund Balances Reserved For Purposes of Bond Issue For State Capital Outlay Projects \r\n \r\n$ 10,565,395.66 \r\n \r\n$ 10,565,395.66 \r\n \r\nUnreserved Undesignated \r\n \r\n$ 60,019.48 \r\n \r\n0.00 $ \r\n \r\nTotal Fund Equity \r\n \r\n$ 60,019.48 $ 10,565,395.66 $ \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 60,019.48 $ 10,565,395.66 $ \r\n \r\n$ \r\n \r\n3,735.27 \r\n \r\n97,590.79 \r\n \r\n173,492.88 \r\n \r\n$ _---'2~7...;.4,l.,;;,8..;,,18.;;,,;..;.9.4... \r\n \r\n$ \r\n \r\n267,930.56 \r\n \r\n$ \r\n \r\n267,930.56 \r\n \r\n0.00 0.00 $ \r\n \r\n0.00 267,930,56 \r\n \r\n0.00 $ ======54:::.2.,7...4.=9=.5.0.. \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 30- \r\n \r\n EXHIBIT\"G\" \r\n \r\nSTATE FINANCING AND INVESTMENT COMMISSION \r\n \r\nPROJECT \r\n \r\nPROJECT \r\n \r\nPROJECT \r\n \r\n94/94S-737-o56 \r\n \r\n96-737-065 \r\n \r\n96-737-066 \r\n \r\nPROJECT 97/96S-737-044 \r\n \r\nTOTALS JUNE 30,1996 JUNE 30,1995 \r\n \r\n$ \r\n \r\n274,447.35 \r\n \r\n$ \r\n \r\n101,622.03 \r\n \r\n$ 865,950.78 $ 599,928.62 \r\n \r\n$ \r\n \r\n180,411.24 \r\n \r\n2,488,440.65 $ \r\n \r\n556,309.49 13,903,444.62 15,370,709.65 \r\n \r\n20,694.00 \r\n \r\n1,665,447.70 \r\n \r\n1,686,141.70 \r\n \r\n$ \r\n \r\n274,447.35 $ \r\n \r\n201,105.24 $ 2,590,062.68 $ 2,221,757.19 $ 16,455,537.10 $ 15,970,638.27 \r\n \r\n$ \r\n \r\n$ \r\n \r\n12,350.01 \r\n \r\n43,723.56 \r\n \r\n93,657.01 \r\n \r\n$ \r\n \r\n149,730.58 $ \r\n \r\n16,193.26 16,193.26 \r\n \r\n$ \r\n \r\n469,119.88 $ 485,313.14 $ 594,048.93 \r\n \r\n3,987.60 \r\n \r\n20,072.88 \r\n \r\n101,625.16 \r\n \r\n242,939.51 \r\n \r\n138,112.35 \r\n \r\n405,262.24 \r\n \r\n$ \r\n \r\n712,844.99 $ 1,153,587.77 $ 594,048.93 \r\n \r\n$ 10,565,395.66 $ 10,293,680.05 \r\n \r\n$ \r\n \r\n124,716.77 $ \r\n \r\n184,911.98 $ 2,590,062.68 $ 1,508,912.20 \r\n \r\n4,676,534.19 \r\n \r\n5,082,909.29 \r\n \r\n$ \r\n \r\n124,716.77 $ \r\n \r\n184,911.98 $ 2,590,062.68 $ 1,508,912.20 $ 15,241,929.85 $ 15,376,589.34 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n60,019.48 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n124,716.77 $ \r\n \r\n184,911.98 $ 2,590,062.68 $ 1,508,912.20 $ 15,301,949.33 $ 15,376,589.34 \r\n \r\n$ \r\n \r\n274,447.35 $ \r\n \r\n201,105.24 $ 2,590,062.68 $ 2,221,757.19 $ 16,455,537.10 $ 15,970,638.27 \r\n \r\n- 31 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES \r\nCAPITAL PROJECTS FUND YEAR ENDED JUNE 30.1996 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 60,019.48 $ 10,565,395.66 $ \r\n \r\n0.00 $ \r\n \r\n267,930.56 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 32- \r\n \r\n EXHIBIT\"H\" \r\n \r\nSTATE FINANCING AND INVESTMENT COMMISSION \r\n \r\nPROJECT \r\n \r\nPROJECT \r\n \r\nPROJECT \r\n \r\n94/945-737-056 \r\n \r\n96-737-065 \r\n \r\n96-737-066 \r\n \r\nPROJECT 97/965-737-044 \r\n \r\nTOTALS YEAR ENDED JUNE 30,1996 JUNE 30,1995 \r\n \r\n$ \r\n \r\n372,075.00 $ \r\n \r\n24,752.92 \r\n \r\n$ \r\n \r\n396,827.92 $ \r\n \r\n17,004.00 \r\n \r\n$ 2,110,109.52 $ 3,338,567.52 \r\n \r\n9,883.65 $ _ _1~3.::.16,.:..:76~3:.:..:.44~ \r\n \r\n877,394.13 $ \r\n \r\n26,887.65 $ \r\n \r\n136,763.44 $ 2,110,109.52 $ 4,215,961.65 $ \r\n \r\n289,026.96 289,026.96 \r\n \r\n$ \r\n \r\n4,553.75 \r\n \r\n975,783.14 $ \r\n \r\n$ \r\n \r\n980,336.89 $ \r\n \r\n$ -583,508.97 $ \r\n \r\n$ \r\n17,004.00 17,004.00 $ \r\n9,883.65 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n50,000.04 $ \r\n \r\n11,313.12 \r\n \r\n947.28 \r\n \r\n$ 137,106.07 2,075,041.11 36,074.69 \r\n \r\n148,518.13 4,841,245.74 \r\n36,074.69 \r\n \r\n0.00 $ 2,248,221.87 $ 5,088,099.00 $ \r\n \r\n136,763.44 $ -138,112.35 $ -872,137.35 $ \r\n \r\n8,333.34 1,885.52 \r\n95.75 154,358.84 \r\n4,120.00 612,253.29 \r\n7,531.60 \r\n788,578.34 \r\n-499,551.38 \r\n \r\n$ \r\n \r\n60,000.00 \r\n \r\n$ \r\n \r\n60,000.00 \r\n \r\n$ 10,945,000.00 \r\n \r\n$ 1,059,356.00 $ 1,216,853.34 \r\n \r\n4,338,404.68 \r\n \r\n-419,356.00 -3,535,902.02 \r\n \r\n$ 1,059,356.00 $ 797,497.34 $ 11,747,502.66 \r\n \r\n$ -523,508.97 $ 648,225.74 \r\n \r\n9,883.65 $ 175,028.33 \r\n \r\n136,763.44 $ 2,453,299.24 \r\n \r\n921,243.65 $ -74,640.01 $ 11,247,951.28 \r\n \r\n0.00 15,376,589.34 \r\n \r\n4,128,638.06 \r\n \r\n587,668.55 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n124,716.77 $ \r\n \r\n184,911.98 $ 2,590,062.68 $ 1,508,912.20 $ 15,301,949.33 $ 15,376,589.34 \r\n \r\n- 33- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nYEAR ENDED JUNE 30,1996 \r\n \r\nSCHEDULE \"1\" \r\n \r\n TIFT 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\nOTHER FEDERAL ASSISTANCE \r\nDefense. U. S. Department of Direct Department of the Air Force R.O.T.C. Program 1996 Grant \r\nEnergy, U. S. Department of Direct Crude Oil Refund 1996 Refund \r\nEnvironmental Protection Agency, U. S. Direct Outdoors Education Classrooms 1996 Grant \r\nTotal Other Federal Assistance \r\n \r\nCFDA NUMBER \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n$ 31.930;15 \r\n \r\n(4) \r\n \r\n$ \r\n \r\n1,133.00 \r\n \r\n(4) \r\n \r\n$ \r\n \r\n3,948.80 \r\n \r\n(4) \r\n \r\n$ 37,011.95 \r\n \r\nTotal Federal Financial Assistance Major Programs are identified by an asterisk (*) in front of the CFDA number. \r\n \r\n$ 3,723,256.34 $ 4,342,941.87 \r\n \r\n(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. \r\n(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1996 National School Lunch Program. \r\n(3) Expenditures for this program include State and/or Other Funds. Expenditures are not maintained by fund source. \r\n(4) 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- 35 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30,1996 \r\nNONINTEREST BEARING ACCOUNTS \r\nSouth Georgia Banking Company, Tifton, Georgia \r\nINTEREST BEARING ACCOUNTS \r\nCitizens Bank of Tifton, Tifton, Georgia \r\nN,O.w, Accounts (5.20%) \r\n \r\nSCHEDULE \"2\" \r\n \r\n$ \r\n \r\n200,00 \r\n \r\n3,435,589,90 $ 3,435,789,90 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 36 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION INVESTMENTS JUNE 30. 1996 \r\nINVESTMENT POOL State of Georgia, Office of Treasury and Fiscal Services Local Government Investment Pool (5.361%) \r\n \r\nSCHEDULE \"3\" $ 15,710,439.39 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 37 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30,1996 \r\n \r\nSCHEDULE \"4\" \r\n \r\nBerrien County Board of Education d/b/a Southern Pine Migrant Education Agency Migrant Education \r\nDefense, U. S. Department of Department of the Air Force R.O.T.C. Program \r\nEducation, Georgia Department of Food Services School Breakfast Program National School Lunch Program Federal Programs Elementary and Secondary Education Act Title I Grants to Local Educational Agencies Individuals with Disabilities Education Act Part B - Special Education Flow Through Preschool \r\nGeorgia State Financing and Investment Commission Reimbursement on Construction Projects \r\nOffice of School Readiness Pre-Kindergarten Program \r\nTift County High School Summer School Tuition \r\nTift County Tax Commissioner County Wide Bond Tax County Wide School Tax \r\nVarious Sources Other \r\n \r\nGENERAL FUND \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 29,513,27 \r\n \r\n$ 29,513.27 \r\n \r\n$ \r\n \r\n2,714.79 \r\n \r\n2,714.79 \r\n \r\n3,983.24 19,081.95 \r\n \r\n3,983.24 19,081.95 \r\n \r\n177,485,76 \r\n45,169,60 23,384,00 \r\n \r\n177,485,76 \r\n45,169.60 23,384.00 \r\n \r\n40,000,00 108,179,58 26.616,42 \r\n \r\n$ 1,682,451,70 \r\n \r\n1,682,451,70 \r\n \r\n34,003,00 \r\n \r\n34,003,00 \r\n \r\n40,000,00 \r\n \r\n$ 11,937,72 \r\n \r\n11,937,72 108,179,58 \r\n \r\n3.690,00 \r\n \r\n2,774,33 \r\n \r\n33,080.75 \r\n \r\n$ 177.510,79 $ 332.620,82 $ 1.686.141,70 $ 14,712,05 $ 2.210.985.36 \r\n \r\nSee notes to the general purpose financial statements, \r\n \r\n- 38 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION DEBT SERVICE REQUIREMENTS TO MATURITY \r\nJUNE 30,1996 \r\n \r\nSCHEDULE \"5\" \r\n \r\nPAYMENTS DUE IN FISCAL YEAR ENDING JUNE 30 \r\n1997 1998 1999 2000 2001 \r\n2002 2003 2004 2005 2006 \r\n2007 2008 2009 2010 2011 \r\n2012 2013 2014 2015 \r\n \r\nTOTAL DEBT SERVICE \r\n \r\n1995 BOND ISSUE \r\n \r\nINTEREST \r\n \r\nPRINCIPAL \r\n \r\n$ \r\n \r\n886,023,76 $ 621,023.76 $ \r\n \r\n265,000.00 \r\n \r\n899,098,76 \r\n \r\n609,098,76 \r\n \r\n290,000.00 \r\n \r\n910,468,76 \r\n \r\n595,468,76 \r\n \r\n315,000.00 \r\n \r\n920,348.76 \r\n \r\n580,348.76 \r\n \r\n340,000.00 \r\n \r\n933,688.76 \r\n \r\n563,688.76 \r\n \r\n370,000.00 \r\n \r\n945,188.76 959,788.76 9n,168,76 981,993,76 989,723.76 \r\n \r\n545,188,76 524,788.76 502,168.76 476,993.76 449,723.76 \r\n \r\n400,000,00 435,000.00 475,000.00 505,000.00 540,000,00 \r\n \r\n994,753.76 1,002,266.26 1,011,903,76 1,023,293.76 1,029,806.26 \r\n \r\n419,753,76 387,266.26 351,903,76 313,293.76 269,806.26 \r\n \r\n575,000,00 615,000,00 660,000.00 710,000.00 760,000.00 \r\n \r\n1,038,256,26 1,048,337,50 1,064,743.76 1,071,862.50 \r\n \r\n223,256,26 173,337.50 119,743.76 61,862.50 \r\n \r\n815,000.00 875,000.00 945,000.00 1,010,000.00 \r\n \r\n$ 18,688,716.42 $ 7,788,716.42 $ 10,900,000,00 \r\n \r\nCHANGES IN GENERAL LONG-TERM DEBT Bonds Payable at July 1, 1995 Bonds Retired During Period \r\nBonds Payable at June 30,1996 \r\n \r\n1995 BOND ISSUE \r\n$ 10,945,000.00 \r\n45,000.00 \r\n$ 10,900,000.00 \r\n \r\nMATURITY DATES Semi-Annual Interest Payment Dates Annual Debt Retirement Date \r\nSee notes to the general purpose financial statements. - 39 - \r\n \r\nFEB 1 -AUG 1 FEB 1 \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30.1996 \r\n \r\nSCHEDULE \"6\" \r\n \r\nAGENCY/FUNDING \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\nGRANTS 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 Special Instructional Assistance In-School Suspension Counselors Grades 4 and 5 Mid-term Adjustment Migrant Mid-term Adjustment Technology Training Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Alternative Programs Apprenticeship Program At-Risk Summer School Program Environmental Science Program Health Insurance Innovative Programs Mentor Teacher Program Preschool Handicapped Program Remedial Summer School Program Special Education Low Incidence Grant Teachers' Retirement Lottery Programs Alternative School Program Instructional Technology Model Technology Schools Pre-Kindergarten Program Safe Schools Grant Technology Installation \r\n \r\n$ 13,662.996.00 \r\n2,346,944.00 524,657.00 584,518.00 193,126.00 \r\n3.812,851.00 \r\n \r\n560,432.00 194,438.00 587,095.00 147.976.00 \r\n38.658.00 5,124.00 8,755.00 \r\n77,295.00 -2,666,598.00 1,625.854.00 \r\n$ \r\n478,894.48 \r\n \r\n169,054.00 \r\n \r\n115,500.00 60,000.00 33,604.08 \r\n1,000.00 405,276.39 \r\n5,000.00 3,900.00 \r\n11,164.27 23,960.00 28,736.15 \r\n \r\n82,463.00 \r\n \r\n34,000.00 73,413.76 83,183.10 209,000.00 34,271.06 87,004.36 \r\n \r\n$ 13,662.996.00 \r\n2,346,944.00 524,657.00 584,518.00 193,126.00 \r\n3,812,851.00 \r\n560,432.00 194,438.00 587,095.00 147,976.00 \r\n38,658.00 5,124.00 8,755.00 \r\n77.295.00 -2,666.598.00 1,625,854.00 \r\n169,054.00 478,894.48 \r\n115,500.00 60,000.00 33,604.08 \r\n1,000.00 405,276.39 \r\n5,000.00 3,900.00 82,463.00 11,164.27 23,960.00 28,736.15 \r\n34,000.00 73,413.76 83,183.10 209,000.00 34,271.06 87,004.36 \r\n \r\nGeorgia State Financing and Investment Commission Reimbursement on Construction Projects \r\n \r\n$ 3,338,567.52 \r\n \r\n3,338,567.52 \r\n \r\nOffice of School Readiness Pre-Kindergarten Program \r\n \r\n167,795.00 \r\n \r\n167,795.00 \r\n \r\n- 40 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30.1996 \r\n \r\nSCHEDULE \"6\" \r\n \r\nAGENCY/FUNDING \r\nGRANTS Office of Treasury and Fiscal Services Public School Employees Retirement \r\nCONTRACT Education, Georgia Department of Leadership Development Program \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n70,851.00 \r\n \r\n$ \r\n \r\n70,851.00 \r\n \r\n1,500.00 \r\n \r\n1,500.00 \r\n \r\n$ 22,943,507.37 $ 940,184.28 $ 3,338,567.52 $ 27,222,259.17 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 41 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF TAXES AND OTHER REVENUE \r\nYEAR ENDED JUNE 30, 1996 \r\n \r\nSCHEDULE '7\" \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\nDEBT SERVICE \r\nFUND \r\n \r\nTOTAL \r\n \r\nTaxes County Wide Bond Tax County Wide School Tax Railroad Car Tax Real Estate Transfer Tax \r\n \r\n$ 6,315,252.99 5,263.15 16,469.08 \r\n \r\n$ 738,882.38 $ \r\n671.89 2,102.44 \r\n \r\n738,882,38 6,315,252.99 \r\n5,935.04 18,571.52 \r\n \r\nOther Sources Compensation for Loss of Assets For Day Care Tift County Department of Family and Children Services For Salaries Behavioral Health Services of South Georgia Georgia Young Farmers Association Tift County Band Boosters Association Tift County Commission on Children and Youth Tift County High School For Transportation Berrien County Board of Education Indirect Cost Special Revenue Fund Interest Earned Litigation Settlements Milk Court Settlement Refund - Bond Issuance Cost Rents Sales Lunches School Assets Tuition Other \r\n \r\n16,222,78 \r\n \r\n16,222.78 \r\n \r\n7,215.00 \r\n \r\n47,760,00 8,500.91 3,600,00 $ 8,931.88 \r\n \r\n13,436.00 \r\n \r\n9,213.08 \r\n \r\n21,264.55 222,893,68 \r\n25,000,00 \r\n8,407.02 \r\n \r\n47,298.69 $ 862,864.80 \r\n \r\n106.67 \r\n \r\n14,529,33 \r\n \r\n18,747,53 62,668,75 31,194.95 \r\n \r\n408,931,95 \r\n \r\n12,637.43 \r\n \r\n7,215.00 \r\n47,760.00 8,500.91 3,600.00 \r\n13,436.00 8,931.88 \r\n9,213.08 \r\n21,264.55 1,145,694,60 \r\n25,000.00 106,67 \r\n14,529,33 8,407.02 \r\n408,931,95 18,747,53 62,668,75 31,194.95 \r\n \r\n$ 6,828,605,35 $ 469,773.31 $ 877,394.13 $ 754,294.14 $ 8,930,066.93 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n 42  \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT GENERAL AND SPECIAL REVENUE FUNDS \r\nYEAR ENDED JUNE 30, 1996 \r\n \r\nSCHEDULE \"8\" \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 Property Services 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 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$ 19,759,622,16 $ 2,337,897,26 $ 22,097,519.42 \r\n \r\n5,852,395.61 \r\n \r\n634,184.15 \r\n \r\n6,486,579,76 \r\n \r\n112,824.85 \r\n \r\n22,750.76 \r\n \r\n135,575.61 \r\n \r\n133,979.92 \r\n \r\n54,631.38 \r\n \r\n188,611.30 \r\n \r\n13,716.10 \r\n \r\n13,716.10 \r\n \r\n62,897.61 \r\n \r\n1,720.00 \r\n \r\n64,617.61 \r\n \r\n202,526,26 \r\n \r\n37,290.66 \r\n \r\n239,816.92 \r\n \r\n21,323,98 \r\n \r\n21,323.98 \r\n \r\n3,000.00 \r\n \r\n3,000.00 \r\n \r\n70,434.00 \r\n \r\n322.00 \r\n \r\n70,756.00 \r\n \r\n78,848.41 \r\n \r\n5,850,82 \r\n \r\n84,699.23 \r\n \r\n11,069,28 \r\n \r\n11,069.28 \r\n \r\n24,127.26 \r\n \r\n24,127.26 \r\n \r\n11,199.96 \r\n \r\n3,428.37 \r\n \r\n14,628.33 \r\n \r\n947,510.58 \r\n \r\n300,568.62 \r\n \r\n1,248,079.20 \r\n \r\n630,031.62 \r\n \r\n101,170.13 \r\n \r\n731,201.75 \r\n \r\n1,079,866.60 \r\n \r\n1,079,866.60 \r\n \r\n381,909.00 \r\n \r\n12,668.25 \r\n \r\n394,577.25 \r\n \r\n21,201.14 \r\n \r\n3,836.90 \r\n \r\n25,038.04 \r\n \r\n21,264.55 \r\n \r\n21,264,55 \r\n \r\n96,946.58 \r\n \r\n4,976,66 \r\n \r\n101,923.24 \r\n \r\n113,060,06 2,805.00 \r\n169,500.00 461,775.59 \r\n \r\n39,126.00 438,993.92 \r\n \r\n152,186.06 2,805.00 \r\n169,500.00 900,769.51 \r\n \r\n$ 29,168,635.69 $ 5,114,616.31 $ 34,283,252.00 \r\n \r\nSee notes to the general purpose financial statements. - 43 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \r\nLOTTERY PROGRAMS YEAR ENDED JUNE 30, 1996 \r\n \r\nEXPENDITURES \r\nOperating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Water, Sewer and Cleaning Services Communications Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Other Expenditures \r\nNonoperating Costs Equipment \r\nTotal Expenditures \r\n \r\nALTERNATIVE \r\n \r\nMODEL \r\n \r\nSCHOOL INSTRUCTIONAL TECHNOLOGY \r\n \r\nPROGRAM TECHNOLOGY \r\n \r\nSCHOOLS \r\n \r\n$ 21,666,26 \r\n \r\n$ \r\n \r\n262,72 \r\n \r\n12,333.74 $ \r\n \r\n73,413.76 \r\n \r\n82,920,38 \r\n \r\n$ 34,000,00 $ \r\n \r\n73,413.76 $======8=3,=18==:3=,1=0 \r\n \r\nSee notes to the general purpose financial statements. - 44 - \r\n \r\n SCHEDULE \"9\" \r\n \r\nPRE-KINDERGARTEN PROGRAM \r\n \r\nSAFE SCHOOLS \r\nGRANT \r\n \r\nTECHNOLOGY INSTALLATION \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n227,nO.25 \r\n \r\n65,299.18 \r\n \r\n1,685.39 \r\n \r\n387.66 \r\n \r\n1,720.00 \r\n \r\n664.03 \r\n \r\n1,504.84 \r\n \r\n44,242.16 \r\n \r\n22,315.00 \r\n \r\n319.40 \r\n \r\n1,556.13 \r\n \r\n718.00 \r\n \r\n2,050.00 \r\n \r\n$ 227,nO.25 65,299.18 1,948.11 387.66 1,720.00 664.03 1,504.84 65,908.42 22,315.00 319.40 1,556.13 718.00 2,050.00 \r\n \r\n7,107.12 $ \r\n \r\n34,271.06 $_--=8~7,=004~.3~6 \r\n \r\n297,050.42 \r\n \r\n$ \r\n \r\n3n,339.16 $ \r\n \r\n34,271.06 $ \r\n \r\n87,004.36 $ 689,211.44 \r\n \r\n- 45 - \r\n \r\n TIUS PAGE LEFT BLANK \r\n \r\n TIFT 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 \"10\" \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$ 17,124,239.00 $ \r\n \r\n537,431.00 \r\n \r\n$ 17,538,905.47 918,456.00 $ \r\n$ 18,457,361.47 \r\n \r\n797,057.67 \r\n \r\n-180,032.35 $ 18,277,329.12 \r\n \r\n$ \r\n \r\n0.00 $=====0='0==0 \r\n \r\nSee notes to the general purpose financial statements. - 47 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30,1996 \r\n \r\nGENERAL AND CAREER EDUCATION PROGRAMS Kindergarten (*) Grades 1 - 3 (*) Sub-Total- K-3 Grades 4 - 5 (*) Grades 6 - 8 r) Grades 9 - 12 (*) High SChool Laboratories (*) Vocational Education Laboratories (*) Total General and Career Education Programs \r\nSPECIAL EDUCATION PROGRAMS Regular Programs Category II (*) Category III (*) Category IV (*) Sub-Total- Regular Category V (Gifted) (*) Total Special Education Programs \r\nREMEDIAL EDUCATION PROGRAM C*) Total Thirteen Weighted Programs \r\nMEDIA CENTER PROGRAMS Salaries Operations Total Media Center Programs \r\nTotal Thirteen Weighted and Media Center Programs \r\nSTAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development \r\nTotal Staff Development Programs (*) Identifies Thirteen Weighted Programs. \r\n \r\nALLOTMENTS FROM DEPARTMENT OF EDUCATION \r\n \r\nREQUIRED \r\n \r\nORIGINAL \r\n \r\n~ \r\n \r\nORIGINAL \r\n \r\nMID-TERM \r\n \r\n$ 1,423,310.00 \r\n \r\n$ 1,280,979,00 $ \r\n \r\n3,283,781,00 \r\n \r\n2,955,402,90 \r\n \r\n$ 4,707,091,00 90 $ 4,236,381.90 $ \r\n \r\n1,698,146,00 90 \r\n \r\n1,528,331.40 \r\n \r\n3,191,124,00 90 \r\n \r\n2,872,011,60 \r\n \r\n2,134,924,00 90 \r\n \r\n1,921,431,60 \r\n \r\n1,008,760.00 90 \r\n \r\n907,884.00 \r\n \r\n922,951.00 90 \r\n \r\n830,655.90 \r\n \r\n$ 13,662,996.00 \r\n \r\n$ 12,296,696.40 $ \r\n \r\n0,00 0,00 \r\n0,00 \r\n \r\n$ 2,135,305,00 \r\n \r\n$ 1,921,774.50 $ \r\n \r\n0.00 \r\n \r\n$ 2,135,305.00 90 $ 1,921,774.50 $ \r\n \r\n211,639.00 90 \r\n \r\n190,475.10 \r\n \r\n$ 2,346,944,00 \r\n \r\n$ 2,112,249.60 $ \r\n \r\n$ \r\n \r\n524,657,00 90 $ \r\n \r\n472,191.30 $ \r\n \r\n$ 16,534,597.00 \r\n \r\n$ 14,881,137,30 $ \r\n \r\n0.00 5,124.00 5,124.00 \r\n0.00 5,124.00 \r\n \r\n$ \r\n \r\n464,030.00 90 $ \r\n \r\n417,627.00 $ \r\n \r\n120,488.00 90 \r\n \r\n108,439.20 \r\n \r\n$ \r\n \r\n584,518.00 \r\n \r\n$ \r\n \r\n526,066,20 $ \r\n \r\n0.00 0.00 \r\n \r\n$ 17,119,115.00 \r\n \r\n$ 15,407,203.50 $ \r\n \r\n5,124.00 \r\n \r\n$ \r\n \r\n47,639.00 \r\n \r\n145,487.00 \r\n \r\n$ \r\n \r\n47,639.00 $ \r\n \r\n145,487.00 \r\n \r\n0,00 0.00 \r\n \r\n$ \r\n \r\n193,126.00 100 $ \r\n \r\n193,126.00 $ .....= \r\n \r\n00..0... \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 48 - \r\n \r\n SCHEDULE \"11\" \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$ 1,280,979.00 $ \r\n \r\n1,408,070.43 $ \r\n \r\n48,161.97 $ 1,456,232.40 \r\n \r\n2,955,402.90 \r\n \r\n3,331,087.92 \r\n \r\n147,645.03 \r\n \r\n3,478,732.95 \r\n \r\n$ 4,236,381.90 $ 4,739,158.35 $ \r\n \r\n195,807.00 $ 4,934,965.35 $ \r\n \r\n0.00 \r\n \r\n1,528,331.40 \r\n \r\n1,752,980.48 \r\n \r\n93,080.60 \r\n \r\n1,846,061.08 \r\n \r\n0.00 \r\n \r\n2,872,011.60 \r\n \r\n3,356,316.74 \r\n \r\n170,846.28 \r\n \r\n3,527,163.02 \r\n \r\n0.00 \r\n \r\n1,921,431.60 \r\n \r\n2,322,848.51 \r\n \r\n167,169.03 \r\n \r\n2,490,017.54 \r\n \r\n0.00 \r\n \r\n907,884.00 \r\n \r\n897,101.60 \r\n \r\n62,902.20 \r\n \r\n960,003.80 \r\n \r\n0.00 \r\n \r\n830,655.90 \r\n \r\n959,951.43 \r\n \r\n60,490.73 \r\n \r\n1,020,442.16 \r\n \r\n0.00 \r\n \r\n$ 12,296,696.40 $ 14,028,357.11 $ \r\n \r\n750,295.84 $ 14,778,652.95 \r\n \r\n$ 1,921,774.50 $ \r\n \r\n1,072,259.10 $ 998,205.55 16,769.89 \r\n \r\n15,708.86 $ 14,940.46 \r\n622.16 \r\n \r\n1,087,967.96 1,013,146.01 \r\n17,392.05 \r\n \r\n$ 1,921,774.50 $ 2,087,234.54 $ \r\n \r\n31,271.48 $ 2,118,506.02 \r\n \r\n0.00 \r\n \r\n195,599.10 \r\n \r\n255,026.49 \r\n \r\n5,050.96 \r\n \r\n260,077.45 \r\n \r\n0.00 \r\n \r\n$ 2,117,373.60 $ 2,342,261.03 $ \r\n \r\n36,322.44 $ 2,378,583.47 \r\n \r\n$ \r\n \r\n472,191.30 $ \r\n \r\n525,135.31 $ \r\n \r\n10,439.39 $ \r\n \r\n535,574.70 \r\n \r\n0.00 \r\n \r\n$ 14,886,261.30 $ 16,895,753.45 $ \r\n \r\n797,057.67 $ 17,692,811.12 \r\n \r\n$ \r\n \r\n417,627.00 $ \r\n \r\n643,152.02 \r\n \r\n$ \r\n \r\n643,152.02 \r\n \r\n0.00 \r\n \r\n108,439.20 \r\n \r\n$ \r\n \r\n121,398.33 \r\n \r\n121,398.33 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n526,066.20 $ \r\n \r\n643,152.02 $ \r\n \r\n121,398.33 $ \r\n \r\n764,550.35 \r\n \r\n$ 15,412,327.50 $ 17,538,905.47 $ \r\n \r\n918,456.00 $ 18,457,361.47 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n47,639.00 \r\n \r\n145,487.00 \r\n \r\n$ ====1;,;;9,;;,3',;,;12~6;;,;'0;,;;,0 \r\n \r\n$ \r\n \r\n146,496.47 $ \r\n \r\n146,496.47 \r\n \r\n46,970.91 \r\n \r\n46,970.91 \r\n \r\n$ \r\n \r\n193,467.38 $ \r\n \r\n193,467.38 $_======.....,,;;0;;,;.0;,;;,0 \r\n \r\n- 49 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \r\nYEAR ENDED JUNE 30,1996 \r\n \r\nSCHEDULE \"12\" \r\n \r\nBOARD MEMBER ADDRESS \r\nDr. Hal Henderson, Chairman (*) 2006 North Park Avenue Tifton, Georgia 31794 \r\nMs. Nancy Davis (*) 901 East 24th Street Tifton, Georgia 31794 \r\nMr. Tim Dorminey (*) 4425 Frazier Circle Tifton, Georgia 31794 \r\nMr. Tommy Lindsey (*) P. O. Box 98 Omega, Georgia 31775 \r\nMs. Barbara McCoy (*) 2606 Wilson Avenue Tifton, Georgia 31794 \r\nMs. Mary McMillion 1501 South Central Avenue Tifton, Georgia 31794 \r\nMs. Leona Mott (*) 3111 Eason Avenue TIfton, Georgia 31794 \r\nMs. Betty Parson (*) 404 17th Street Tifton, Georgia 31794 \r\n(*) Denotes Board Members Serving as of June 30, 1996 \r\n \r\nCOMPENSATION \r\n \r\nTRAVEL \r\n \r\n$ \r\n \r\n2,100.00 $ \r\n \r\n887.55 \r\n \r\n1,800.00 \r\n \r\n420.26 \r\n \r\n1,500.00 \r\n \r\n266.92 \r\n \r\n1,650.00 \r\n \r\n1,800.00 \r\n \r\n448.26 \r\n \r\n300.00 \r\n \r\n1,150.00 \r\n \r\n900.00 \r\n \r\n493.11 \r\n \r\n$ \r\n \r\n11,200.00 $ ======2;;,;;,5=:1=:6=.1::.0 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 50 - \r\n \r\n SECTIONll COMPLIANCE \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\nJuly 9, 1997 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board of Education \r\nand Superintendent and Members ofthe Tift County Board of Education \r\nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements of the Tift County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated July 9, 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 Tift County Board of Education is the responsibility of the Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions of laws, regulations, contracts, and grants. However, the objective of our audit of the fmancial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion. \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-I0 \r\n \r\n This report is intended for the infonnation 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\nCLV:dt 96CRL-IO \r\n \r\nClaude 1. 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\nJuly 9, 1997 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation \r\nand Superintendent and Members ofthe Tift 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 of the Tift County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated July 9, 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 Board's compliance with the following requirements applicable to each of its Federal fmancial assistance programs, which are listed in the Schedule of Federal Financial Assistance, for the year ended June 30, 1996: \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) Drug-Free Workplace Act \r\n \r\n(3) Cash Management \r\n \r\n(7) Audit Follow-UplResolution \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 Board's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. \r\n \r\n96CRL-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 Tift County Board of Education had not complied, in all material respects, with those requirements. However, the results of our procedures disclosed immaterial instances of noncompliance with those requirements, which are described in the Schedule of Findings and Improper or Questioned Costs. \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\nCLV:dt 96CRL-50 \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\nJuly 9, 1997 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members of the Tift County Board of Education \r\n \r\nSINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REOUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS \r\n \r\nLadies and Gentlemen: \r\n \r\nWe have audited the general purpose fmancial statements of the Tift County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated July 9, 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 Tift 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 programs, which are identified in the Schedule of Federal Financial Assistance, for the year ended June 30, 1996. The management of the Tift 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\nWe conducted our audit ofcompliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and Office of Management and \r\n \r\n96CRL-80 \r\n \r\n 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 Tift County Board ofEducation's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion. \r\nIn our opinion, the Tift County Board ofEducation complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance programs 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\nRespectfully submitted, \r\n \r\nCLV:dt 96CRL-80 \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\nJuly 9,1997 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board ofEducation \r\nand Superintendent and Members ofthe Tift County Board of Education \r\n \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \r\n \r\nLadies and Gentlemen: \r\n \r\nWe have audited the general purpose financial statements of the Tift County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated July 9, 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 fmancial statements of the Tift County Board of Education and with our consideration of the Board's control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (OMB) Circular A-l28, \"Audits of State and Local Governments\", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1996. As required by OMB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements governing: \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 Tift County Board of Education's compliance with these requirements. Accordingly, we do not express such an opinion. \r\n \r\nWith respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Tift County Board of Education had not complied, in all material respects, with those requirements. \r\n \r\n96CRL-120 \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:dt 96CRL-120 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n SECTIONID INTERNAL CONTROL \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\nJuly 9, 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 ofthe Tift County Board of Education \r\nREPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements of the Tift County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated July 9, 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 Tift 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 fmancial 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 ofthe design and operation of policies and procedures may deteriorate. \r\nIn planning and performing our audit of the general purpose fmancial statements of the Tift County Board of Education for the year ended June 30, 1996, we obtained an understanding of the internal control \r\n96ICL-3 \r\n \r\n structure. With respect to the internal control structure, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion. \r\nWe noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements. \r\nAs described in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category: \r\nGeneral Fixed Assets \r\nA material weakness is a reportable condition in which the design or operation ofone 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 fmancial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. \r\nOur consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition disclosed above is also considered to be a material weakness. \r\nIbis condition was considered in determining the nature, timing, and extent ofthe procedures to be performed in our audit of the Tift County Board of Education's financial statements and this report does not affect our report thereon dated July 9, 1997. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n \r\nCLV:dt 96ICL-3 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n CLAUDE L. VICKERS \r\nSTAlE AUDllOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.w., Suite 214 Atlanta, Georgia 30334-8400 \r\nJuly 9, 1997 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board of Education \r\nand Superintendent and Members ofthe Tift 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 of the Tift County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated July 9, 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 Board's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated July 9, 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 ofmaterial misstatement and about whether the Tift 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 9, 1997. \r\n96ICL-7 \r\n \r\n The management ofthe Tift County Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that, assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose fmancial statem~nts in accordance with generally accepted accounting principles, and that Federal fmancial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness ofthe design and operation ofpolicies and procedures may deteriorate. \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-Up/Resolution (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\nDuring the year ended June 30, 1996, the Tift County Board of Education expended 75% of its total Federal fmancial assistance under major Federal fmancial assistance programs. \r\n \r\nWe performed 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 each ofthe Board's major Federal financial assistance programs, which \r\n \r\n96ICL-7 \r\n \r\n are identified in the Schedule ofFederal Financial Assistance. 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 certain matters involving the internal control structure and its operation that we consider to be reportable conditions under standards established by the American Institute ofCertified Public Accountants. Reportable conditions involve tratters 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, reportable conditions were noted in the following control category: \r\nAdministrative Requirements \r\nA material weakness is a reportable condition in which the design or operation ofone or more of the internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. \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 conditions described above are also considered to be material weaknesses. \r\nThese conditions were considered in determining the nature, timing, and extent of the procedures to be performed in our audit ofthe Tift County Board of Education's compliance with requirements applicable to its major Federal financial assistance programs for the year ended June 30, 1996, and this report does not affect our report thereon dated July 9, 1997. \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/~~ \r\nClaude 1. Vickers State Auditor \r\nCLV:dt 96ICL-7 \r\n \r\n SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\n \r\n TWTCOUNTYBOARDOFEDUCATION 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 7371-93-02 \r\nThe audit report for the year ended June 30, 1993, disclosed that the Staff Development - Professional Development Stipends Program had an underexpenditure of Quality Basic Education (QBE) funds of $31,327.10 for the required minimum allotment. For the year under review, an adjustment was made to the Board's local fair share by the Georgia Department of Education to refund this underexpenditure as required. \r\nAUDIT FOLLOW-UP/RESOLUTION Excessive Lottery Cash Balance Financial Statements Finding Resolved Audit Control Number 7371-95-01 \r\nThe audit report for the year ended June 30, 1995, stated that a review of cash management procedures for the Lottery - Instructional Technology Program and Technology Installation Program disclosed that cash draws were made in advance of immediate cash needs, resulting in the accumulation of excessive cash balances. These reimbursement basis programs had cash balances of$57,088.15 and $87,004.36, respectively at June 30, 1995. During the year under review, the Georgia Department of Education reviewed this matter and determined that the excessive cash balances were subsequently expended for proper program purposes. \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 7371-93-01 \r\nThe audit report for the year ended June 30, 1995, noted that the management of the Tift County Board of Education had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance ofa General Fixed Assets Account \r\n- 1- \r\n \r\n TWTCOUNTYBOARDOFEDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR OUESTIONED COSTS \r\nYEAR ENDED JUNE 30. 1996 \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 7371-93-01 \r\nGroup. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. \r\nCURRENT YEAR \r\nADMINISTRATIVE REQUIREMENTS \r\nInadequate Inventory Records Federal Financial Assistance Reportable Condition - Material Weakness Nonmaterial Noncompliance Audit Control Number 7371-96-01 \r\nProperty management records maintained by the Board for the Individuals with Disabilities Education Act, Part B - Special Education - Flow Through Program (CFDA 84.027) were incomplete and failed to meet property management standards as set forth in Chapter 41, ofthe Financial Management for Georgia Local Units of Administration (FMGLUA). \r\nThe inventory records as presented for audit did not contain date acquired, proper location of equipment, adequate description, nor additions for purchases made in the period under review. This condition occurred because management did not ensure that all required standards were in place and that changes in equipment purchases were included in property management records. An inventory system should be implemented that provides for the identification of all equipment purchased as outlined in Chapter 41, of the FMGLUA. Perpetual records should include historical information regarding additions and deletions made to the equipment inventory during each fiscal year (when applicable). Periodic physical inventory counts should be performed and reconciled to the property records to ensure the accuracy of inventory records. \r\n-2- \r\n \r\n TWTCOUNTYBOARDOFEDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30. 1996 \r\nCURRENT YEAR ADMINISTRATIVE REQUIREMENTS Inadequate Inventory Records Federal Financial Assistance . Reportable Condition - Material Weakness Nonmaterial Noncompliance Audit Control Number 7371-96-02 Property management records maintained by the Board for the Elementary and Secondary Education Act, Title I - Grants to Local Educational Agencies Program (CFDA 84.010) were incomplete and failed to meet property management standards as set forth in Chapter 41, of the Financial Management for Georgia Local Units of Administration (FMGLUA). The inventory records as presented for audit did not contain adequate updates of additions and deletions to equipment purchases in the period under review. This condition occurred because management did not ensure that all additions and deletions in equipment purchases were included in property management records. An inventory system should be implemented that provides for the identification of all equipment purchased as outlined in Chapter 41, of the FMGLUA. Perpetual records should include historical information regarding additions and deletions made to the equipment inventory during each fiscal year (when applicable). Periodic physical inventory counts should be performed and reconciled to the property records to ensure the accuracy of inventory records. \r\nNote: The Tift County Board ofEducation was provided an opportunity to include pertinent comments from the Board's management concerning these audit fmdings, conclusions and recommendations. The Board has elected not to provide comments for inclusion in this report. \r\n-3- \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1994-h95","title":"Audit report, Tift County Board of Education, Tifton, Georgia, year ended June 30, 1995","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits.","Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Tift County, 31.45744, -83.52659"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1995-06-30"],"dcterms_description":["-year ended June 30, 1999.","Report year covers fiscal year.","Issued by the Georgia Dept. of Audits and Accounts, year ended June 30, 1996-year ended June 30, 1999","Has supplements: Supplementary information, Tift County Board of Education, Tifton, Georgia, summary and schedule of salaries and travel, -year ended June 30, 1998; Tift County Board of Education, Tifton, Georgia, schedule of salaries and travel, year ended June 30, 1999.","Year ended June 30, 1994 (online surrogate); title from PDF cover (Georgia Government Publications database, viewed July 20, 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":["Tift County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Tift County--Auditing--Periodicals.","Education--Georgia--Tift County--Finance--Statistics--Periodicals.","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Tift County Board of Education, Tifton, 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-bt5-b1994-h95"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1994-h95"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"GA \r\nA'3oo -RI \r\nEd-'=, \r\nTs \r\n1994-qs \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS \r\n254 WASHINGTON STREET ATLANTA. GEORGIA 30334 \r\n \r\n AUDIT REPORT TIFT COUNTY BOARD OF EDUCATION \r\nTIFTON, GEORGIA YEAR ENDED JUNE 30, 1995 \r\n \r\n TIFT COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - \r\n \r\nPage \r\n \r\nSECTION I \r\n \r\nFINANCIAL \r\n \r\nINDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\nEXHIBITS \r\n \r\nGENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nCOMBINED STATEMENTS - OVERVIEW \r\n \r\nA \r\n \r\nCOMBINED BALANCE SHEET \r\n \r\nALLFUNDTYPESANDACCOUNTGROUP \r\n \r\n2 \r\n \r\nB \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\nALL GOVERNMENTAL FUND TYPES \r\n \r\n4 \r\n \r\nC \r\n \r\nSTATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES - BUDGET AND ACTUAL \r\n \r\n(NON-GAAP BASIS) \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n5 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n7 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING STATEMENTS \r\n \r\nSPECIAL REVENUE FUND \r\n \r\nE \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n20 \r\n \r\nF \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES \r\n \r\nAND CHANGES IN FUND BALANCES \r\n \r\n22 \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nG \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n24 \r\n \r\nH \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\n26 \r\n \r\nSCHEDULES \r\n \r\n1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\n28 \r\n \r\n2 CASH AND CASH EQUIVALENTS \r\n \r\n30 \r\n \r\n3 INVESTMENTS \r\n \r\n31 \r\n \r\n4 ACCOUNTS RECEIVABLE \r\n \r\n32 \r\n \r\n5 DEBT SERVICE REQUIREMENTS TO MATURITY \r\n \r\n33 \r\n \r\nSCHEDULE OF REVENUE \r\n \r\n6 \r\n \r\nSTATE \r\n \r\n34 \r\n \r\n7 \r\n \r\nLOCAL AND OTHER \r\n \r\n35 \r\n \r\n TIFTCOUNTYBOARDOFEDUCATION - 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\n8 \r\n \r\nGENERAL AND SPECIAL REVENUE FUNDS \r\n \r\n37 \r\n \r\n9 \r\n \r\nLOTTERY PROGRAMS \r\n \r\n38 \r\n \r\nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \r\n \r\nGENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS \r\n \r\n10 \r\n \r\nOVERALL \r\n \r\n41 \r\n \r\n11 \r\n \r\nBYPROGRAM \r\n \r\n42 \r\n \r\n12 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \r\n \r\n44 \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 TIFT 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 \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\nAugust 14, 1996 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Tift 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 audiied the general purpose financial statements (Exhibits A through D) of the Tift 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 petfonn the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \r\nAs described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting.practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \r\n* The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. \r\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 of related benefits earned for contractual services completed prior to June 30, 1995. Also funds received, subsequent to June 30, 1995, from the Georgia Department ofEducation for the State's share 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 ofthe matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the :financial position ofthe Tift County Board ofEducation as ofJune 30, 1995, and the results ofits operations for the year then ended, in conformity with generally accepted accounting principles. In accordance with Government Auditing Standards, we have also issued a report dated August 14, 1996, on our consideration ofthe Board's internal control structure and a report dated August 14, 1996, on its compliance with laws and regulations. \r\nOur audit was conducted for the purpose offorming an opinion on the general purpose financial statements ofthe Tift County Board ofEducation taken as a whole. The combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 12 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 Tift 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 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/4--~~u/ \r\nClaude L. Vickers State Auditor \r\nCLV:cm 95ARL-13* \r\n \r\n TIFT COUNTY BOARD OF EDUCATION - 1- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\nCOMBINED BALANCE SHEET \r\nALL FUND TYPES AND ACCOUNT GROUP \r\nJUNE 30, 1995 \r\n \r\nASSETS \r\nCash and Cash Equivalents \r\nInvestments \r\nAccounts Receivable \r\nInventories Food. Donated Commodities Purchased Food \r\nAmount Available in Debt Service Fund \r\nAmount to be Provided in Future Years For Payment of: Bond Debt Capital Lease Agreements \r\n \r\nGENERAL FUND \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\n$ 1,183,641.80 $ 1,271,925.31 $ \r\n \r\n5,879.69. \r\n \r\n2,531,366.30 \r\n \r\n15,370,709.65 \r\n \r\n125,531.19 \r\n \r\n381,219.97 \r\n \r\n16,505.98 11,504.23 \r\n \r\nTotal Assets \r\n \r\n$ 3,840,539.29 $ 1,681,155.49 $ 15,376,589.34 \r\n \r\nLIABILITIES AND FUND EQUITY \r\nLIABILITIES \r\nAccounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue Unearned Lottery Funds Capital Lease Agreements General Obligation Bonds Payable \r\nTotal Liabilities \r\nFUND EQUITY \r\nFund Balances Reserved For Continuation of Federal Program For Debt Service For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For Purposes of Bond Issue For State Capital Outlay Projects \r\nUnreserved Undesignated \r\nTotal Fund Equity \r\n \r\n$ 259,320.17 $ \r\n \r\n90,727.12 \r\n \r\n470.06 \r\n \r\n272,675.76 \r\n \r\n710.77 \r\n \r\n60,515.23 \r\n \r\n144,092.51 \r\n \r\n$ 2601501.00 $ 5681010.62 \r\n \r\n$ \r\n \r\n$ \r\n \r\n31,327.10 \r\n \r\n885.40 \r\n \r\n16,505.98 11,504.23 \r\n$ \r\n \r\n10,293,680.05 510821909.29 \r\n \r\n$ \r\n \r\n31,327.10 $ \r\n \r\n28,895.61 $ 15,376,589.34 \r\n \r\n31548?11.19 \r\n \r\n110841249.26 \r\n \r\n0.00 \r\n \r\n$ 3,580,038.29 $ 111131144.87 $ 151376,589.34 \r\n \r\nTotal Liabilities and Fund Equity \r\n \r\n$ 3,840,539.29 $ \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -2- \r\n \r\n1,681, 155.49 $ 15,376,589.34 \r\n \r\n EXHIBIT\"A\" \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nACCOUNT GROUP GENERAL \r\nLONG-TERM DEBT \r\n \r\nTOTALS (Memorandum Only) JUNE 301 1995 JUNE 3011994 \r\n \r\n$ \r\n \r\n51,633.90 \r\n \r\n$ 2,513,080.70 $ 5,504,820.93 \r\n \r\n17,902,075.95 \r\n \r\n2,938,582.00 \r\n \r\n7.93 \r\n \r\n506,759.09 \r\n \r\n535,602.02 \r\n \r\n16,505.98 11,504.23 \r\n \r\n24,358.82 12,981.66 \r\n \r\n$ \r\n \r\n51,641.83 \r\n \r\n51,641.83 \r\n \r\n10,893,358.17 603.269.52 \r\n \r\n10,893,358.17 6031269.52 \r\n \r\n9261344.88 \r\n \r\n$ \r\n \r\n51,641.83 $ \r\n \r\n11,5481269.52 $ 32,498, 195.47 $ 9,942,690.31 \r\n \r\n$ \r\n \r\n350,047.29 $ \r\n \r\n230,328.76 \r\n \r\n273,145.82 \r\n \r\n302,166.46 \r\n \r\n61,226.00 \r\n \r\n23,285.61 \r\n \r\n31,140.90 \r\n \r\n3,667.71 \r\n \r\n54,847.85 \r\n \r\n144,092.51 \r\n \r\n$ \r\n \r\n603,269.52 \r\n \r\n603,269.52 \r\n \r\n926,344.88 \r\n \r\n1019451000.00 \r\n \r\n1019451000.00 \r\n \r\n$ \r\n \r\n11.5481269.52 $ 12.376.781.14 $ 11511-782.11 \r\n \r\n$ \r\n \r\n51,641.83 \r\n \r\n$ \r\n \r\n51,641.83 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n51.641.83 \r\n \r\n$ \r\n \r\n51,641.83 $ \r\n \r\n$ \r\n \r\n885.40 $ \r\n \r\n69.76 \r\n \r\n51,641.83 \r\n \r\n31,327.10 \r\n \r\n31,327.10 \r\n \r\n16,505.98 11,504.23 10,293,680.05 510821909.29 \r\n$ 15,488,453.88 $ \r\n41632.960.45 \r\n$ 2011211414.33 $ \r\n \r\n24,358.82 12,981.66 \r\n11238.430.80 1,307,168.14 \r\n71063.740.00 813701908.14 \r\n \r\n11,548,269.52 $ 32,498, 195.47 $ 9,942,690.31 \r\n \r\n-3- \r\n \r\n TIFT COUNTY BQARP OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nALL GOVERNMENTAL FUND TVPES VEAR ENDED JUNE 3Q 1995 \r\n \r\nEXHIBIT\"B\" \r\n \r\nREVENUES \r\nState Funds Federal Funds Local and Other Funds \r\nTotal Revenues \r\n \r\nGENERAL \r\nFUND \r\n \r\nSPECIAL \r\nREVENUE \r\nFUND \r\n \r\nCAPITAL PROJECTS \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTALS \r\n(Memorandum Only) YEAR ENDED \r\nJUNE 301 1995 JUNE 301 1994 \r\n \r\n$ 21,386,885.00 S \r\n84,012.58 6.130.521.97 \r\n \r\n1,209,735.08 3,520,511.07 \r\n453.8n.98 S \r\n \r\nS 27.601.419.55 S 5.184.124.13 $ \r\n \r\ns \r\n \r\ns_ _ 289,026.96 \r\n \r\n__.1.__0_4_1__._0__1__ \r\n \r\n1 \r\n \r\n289,026.96 S \r\n \r\n1.041.07 $ \r\n \r\n22,596,620.08 S \r\n3,604,523.65 6.874.-467.98 \r\n33.075.611.71 S \r\n \r\n21,179,0-46.53 3,788,087.-49 6.655.195.-43 \r\n31.622.329.-45 \r\n \r\nEXPENPITURES \r\n \r\nCurrant \r\n \r\nlnatruction \r\n \r\nS \r\n \r\nSupport Services \r\n \r\nPupilServices \r\nImprovement or Instructional \r\n \r\nServices \r\n \r\nEducational Media Services \r\n \r\nGeneral Administration \r\n \r\nSchool Administration \r\n \r\nBusi,-g Administration \r\nMaintenance and Operation or Plant \r\n \r\nStudent Transportation Services \r\n \r\nCentral Support Services \r\n \r\nOther Support Services \r\n \r\nFood Services Operation \r\nOther Operations or Non-Instructional \r\n \r\nServices \r\n \r\nCapital Outlay \r\n \r\nDebt Service \r\n \r\nPrincipal \r\n \r\nInterest \r\n \r\n17,703,688.08 $ \r\n1,188,674.17 \r\n574,659.84 699,965.13 5\"6,327.36 1,989,913.22 124,365.26 1,757,515.20 1,1-40,578.71 108,314.87 \r\n19,693.08 \r\n250,2.......75 100,710.00 \r\n183,118.72 35.101.98 \r\n \r\n1,962,684.28 \r\n179,773.74 \r\n19,938.03 265,-463.36 196,096.53 \r\n3,939.19 \r\ns \r\n78,209.63 37,942.39 \r\n116,866.5-4 2,031,038.56 \r\n-45,104.71 \r\n139,956.6-4 \r\n \r\nTotal Expenditures \r\n \r\ns s s 26.422.870.37 \r\n \r\n5.on,013.eo \r\n \r\nExcess or R-.iues over (under) \r\nExpenditures \r\n \r\n$ 1.178.549.18 $ 107.110.53 $ \r\n \r\ns \r\n \r\n0.00 S 19,666,372.36 $ 19,879,507.35 \r\n \r\n1,368,......7.91 \r\n \r\n1,2-49,nuo \r\n \r\n16-4,673.-45 \r\n \r\n594,597.87 965,428.-49 742,423.89 1,993,852.41 289,038.71 1,835,724.83 1,178,521.10 108,314.87 136,559.62 2,031,038.56 \r\n \r\n523,269.22 704,205.66 688,163.11 1,772,864.95 109,169.97 1,711,45-4.56 1,067,n8.15 111,205.65 16-4,809.65 2,0-49,667.54 \r\n \r\n623,90-4.89 \r\n \r\n250,2.......75 769,719.60 \r\n \r\n193,828.74 284,7.......51 \r\n \r\n788.578.34 s_ _ _-o_.oo_ s \r\n \r\n323,075.36 35,101.98 \r\ns 32.288.462.31 \r\n \r\n30.5101440.86 \r\n \r\n-499.551.38 $ \r\n \r\n1.041.07 $ \r\n \r\n787.149.-40 $ 1,111,888.59 \r\n \r\nOTHER FINANCING SOURCES CUSES) \r\n \r\nAccrued Interest on Bonds Sold \r\n \r\nProceeds from General Obligation Bonds \r\n \r\nPar Value \r\n \r\nCapilali.- \r\n \r\nOperating Transfers In \r\n \r\nOperating Transfers Out \r\n \r\n$ \r\n \r\ns \r\n-803.697.31 \r\n \r\ns \r\n \r\n$ 10,945,000.00 \r\n \r\n1,194.65 \r\n \r\n802,502.66 \r\n \r\n27,687.06 S \r\n \r\n27,687.06 \r\n \r\n10,945,000.00 \r\ns \r\n803,697.31 \r\n-803.697.31 \r\n \r\n926,a.....88 1,604,309.71 -1.604,309.71 \r\n \r\nTotal Other Financing Sources \r\n \r\n(Uses) \r\n \r\nS \r\n \r\nExcess or Revenues and Other Financing \r\n \r\nSources over (under) Expenditures \r\n \r\nand Other Financing Uses \r\n \r\nS \r\n \r\n-803.697.31 $ \r\n374,851.87 S \r\n \r\n1.194.65 $ 11.747.502.66 S 108,305.18 $ 11,247,951.28 $ \r\n \r\n27,687.06 $ 10.972.687.06 $ \r\n \r\n926,a.....88 \r\n \r\n28,728.13 $ 11,759,836.46 $ 2,038,233.47 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n3,205,186.42 \r\n \r\n1,014,169.96 \r\n \r\n4,128,638.06 \r\n \r\n22,913.70 \r\n \r\n8,370,908.14 \r\n \r\n6,349,417.10 \r\n \r\nFood Inventory - Net Change in Period \r\nDonated Commodities Purchased Food \r\n \r\n-7,852.84 -14n.43 \r\n \r\n-7,852.84 -1 14n.a \r\n \r\n-19,481.-43 2,739.00 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\n$ 3,580,038.29 $ 1,113,144.87 $ 15,376,589.34 $ \r\n \r\n51,6-41.83 $ 20,121,414.33 $ 8,370,908.14 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -4- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nBUDGET AND ACTUAL - (NON-GAAP BASIS) ~ENERAL AND SPECIAL REVENUE FUNQS \r\nYEAR ENDED JUNE 30, 1995 \r\n \r\nEXHIBITc \r\n \r\nGENERAL FUND \r\n \r\nACTUAL \r\n \r\n(BUDGET \r\n \r\nBUDGET \r\n \r\nBASIS} \r\n \r\nREVENUES \r\n \r\nState Funds Federal Funds Local and Other Funds \r\n \r\n$ 21,455,347.16 $ 21,386,885.00 \r\n \r\n34,978.00 \r\n \r\n84,012.58 \r\n \r\n5z728,579.00 611301521.97 \r\n \r\nTotal Revenues \r\n \r\n$ 27,218,904.16 $ 271601,419.55 \r\n \r\nEXPENDITURES \r\n \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services \r\nCapital Outlay Debt Service \r\n \r\n$ 18,142,804.84 $ 17,703,688.08 \r\n \r\n1, 191,000.00 569,680.49 981,885.88 557,000.00 \r\n1,957,000.00 133,000.00 \r\n1,911,110.94 1,176,561.00 \r\n120,931.65 19,693.08 \r\n \r\n1,188,674.17 574,659.84 699,965.13 546,327.36 \r\n1,989,913.22 124,365.26 \r\n1,757,515.20 1,140,578.71 \r\n108,314.87 19,693.08 \r\n \r\n248,000.00 131,000.00 \r\n \r\n250,244.75 100,710.00 218,220.70 \r\n \r\nTotal Expenditures \r\n \r\n$ 271139,667.88 $ 26,4221870.37 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ \r\n \r\n79,236.28 $ 1,178,549.18 \r\n \r\nOTHER FINANCING SOURCES (USES} \r\n \r\nOther Sources Other Uses \r\n \r\n$ -9021445.00 $ -803,697.31 \r\n \r\nTotal Other Financing Sources (Uses) \r\n \r\n$ -902.445.00 $ -803,697.31 \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -823,208.72 $ \r\n \r\n374,851.87 \r\n \r\nFUND BALANCE JULY 1, 1994 \r\n \r\n2,485,934.11 3,205,186.42 \r\n \r\nAdjustments \r\n \r\n170,213.50 \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$ 1,103,905.00 $ 1,209,735.08 \r\n \r\n3,479,307.00 3,520,511.07 \r\n \r\n4651000.00 \r\n \r\n4531877.98 \r\n \r\n$ 510481212.00 $ 5,184,124.13 \r\n \r\n$ 2,312,341.76 $ 1,962,684.28 \r\n \r\n221,312.00 20,900.95 14,534.00 \r\n194,214.24 40,368.00 \r\n \r\n179,773.74 19,938.03 \r\n265,463.36 196,096.53 \r\n3,939.19 \r\n \r\n29,835.00 87,097.00 \r\n \r\n78,209.63 37,942.39 \r\n \r\n124,515.00 \r\n \r\n116,866.54 \r\n \r\n2,077,000.00 2,031,038.56 \r\n \r\n45,000.00 \r\n \r\n45,104.71 139,956.64 \r\n \r\n$ 5,167,117.95 $ 5,077,013.60 \r\n \r\n$ -118,905.95 $ 107,110.53 \r\n \r\n$ 102,445.00 $ \r\n \r\n1,194.65 \r\n \r\n$ 102,445.00 $ \r\n \r\n11194.65 \r\n \r\n$ -16,460.95 $ 1,027,069.31 -27,321.28 \r\n \r\n108,305.18 976,829.48 \r\n \r\nFUND BALANCE JUNE 30, 1995 \r\n \r\n$ 1,832,938.89 $ 3,580,038.29 \r\n \r\n$ 983,287.08 $ 1,085,134.66 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -5- \r\n \r\n  TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXIDBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nThe Tift 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 government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards. \r\nThe more significant of the Board's accounting policies are described below. \r\nREPORTING ENTITY \r\nIn evaluating how to define the government unit for financial reporting purposes, management has considered the criteria set forth in GASH' 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 Tift County Board ofEducation. \r\nBased upon the application ofthe above criteria, the-Tift County Board ofEducation is determined to be the lowest level ofgovernment exercising oversight responsibility and control over all activities related to public education in Tift 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 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- 7- \r\n \r\n TIFT 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 l: 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 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 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\nDEBT SERVICE FUND-the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees. \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for general obligation bonds outstanding and material capital lease obligations. \r\n \r\n- 8- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nBASIS OF ACCOUNTING \r\nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure ofavailable 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 (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 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\n \r\n- 9- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\nBUDGET \r\n \r\nThe Tift 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 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 act\\,lal revenues, expenditures and fund balance as reflected on Exhibit \"B\" ofthis report: \r\n \r\nExcess ofRevenues and Other Financing Sources over (under) Expenditures and Other Financing Uses \r\nFund Balance July 1, 1994 \r\nAdjustments: Inventories July 1, 1994 Food Donated Commodities Purchased Foods \r\nFund Balance June 30, 1995 (Budget Basis) \r\n \r\nSpecial Revenue \r\nFund \r\n$ 108,305.18 \r\n1,014,169.96 \r\n-24,358.82 \r\n-12,981.66 $ 1.085.134.66 \r\n \r\n- 10 - \r\n \r\n TIFT 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 I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF DEPOSITS Cash and cash equivalents consist ofdeposits (including N.0.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 ofdeposit is limited to financial institutions located within this State. \r\nINVESTMENTS \r\nCOMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds in the following: \r\n(I) Obligations issued by the State of Georgia or by other states, \r\n(2) Obligations issued by the United States government, \r\n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \r\n(4) Obligations of any corporation ofthe United States government, \r\n(5) Prime banker's acceptances, \r\n(6) The Local Government Investment Pool administered by the State ofGeorgia, Office ofTreasury and Fiscal Services, \r\n(7) Repurchase agreements, and \r\n(8) Obligations of other political subdivisions ofthe State of Georgia. \r\nRECEIVABLES \r\nReceivables consist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \r\n \r\n- 11 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXlilBIT \"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\nPROPERTY TAXES \r\n \r\nThe Tift County Board ofCommissioners fixed the property tax levy for the 1994 tax year (calendar year) on September 28, 1994 (levy date). Taxes were due on December 20, 1994. The lien date for property taxes was \r\nJanuary l, 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. l 03. \r\nThe Tift County Tax Commissioner bills and collects the property taxes for the Board ofEducation, withholds 2.5% oftaxes collected as a fee for tax collection, and remits the balance oftaxes collected to the Board. \r\n \r\nThe tax millage rate levied for the 1994 tax year (calendar year) for the Tift County Board ofEducation was as follows (a mill equals $1 per thousand dollars ofassessed value): \r\n \r\nSchool Operations \r\n \r\n.lLllmills \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 offund balance which indicates that these amounts do not constitute \"available spendable resources\" even though they are a comp\u003c:\u003enent of net current assets. \r\n \r\nGENERAL OBLIGATION BONDS \r\n \r\nThe Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group. \r\n \r\nINTERFUND TRANSACTIONS \r\n \r\nThe Board has the following types 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- 12 - \r\n \r\n TIFT 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\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. lnterfund eliminations have not been made in the aggregation ofthis data. \r\nNote 2: DEPOSITS AND INVESTMENTS \r\nCOLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate of the face value of such surety bond and the market value ofsecurities shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \r\nAcceptable security for deposits consists ofany 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 ofthe United States or of the State of Georgia, \r\n(4) Bonds, bills, notes, certificates ofindebtedness or other obligations ofthe counties or municipalities ofthe State ofGeorgia, \r\n(5) Bonds ofany public authority created by the laws of the State ofGeorgia, providing that the statute that created the authority authorized the use ofthe bonds for this purpose, \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws ofthe State of Georgia, and \r\n \r\n- 13 - \r\n \r\n TIFT COUNTy BOARD OF EDUCATION \r\n \r\nEXIIlBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 2: DEPOSITS AND INVESTMENTS \r\n \r\n(7) Bonds, bills, notes, certificates of indebtedness, or other obligations ofa 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 Banlc, the Federal Intermediate Credit Bank, the Central Banlc for Cooperatives, the Farm Credit Banlcs, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. \r\n \r\nCATEGORIZATION OF DEPOSITS At June 30, 1995, the banlc balances were $4,975,837.04. The amounts of the total banlc 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 banlc 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\n1 2 3 \r\nTotal \r\n \r\nBanlc Balance $ 210,072.70 \r\n1,168,398.06 3,597,366.28 $ 4,975,837.04 \r\n \r\nCATEGORIZATION OF INVESTMENTS At June 30, 1995, the carrying amount of the Board's total investments was $17,902,075.95 and consisted entirely of funds in the Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services which are not required to be categorized since the Board did not own any specific identifiable securities in the pool. The investment policy ofthe State of Georgia, Office ofTreasury and Fiscal Services for the Local Government Investment Pool does not provide for investment in derivatives or similar investments. \r\n \r\nNote 3: NON-MONETARY TRANSACTIONS \r\n \r\nThe Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \r\n \r\n- 14 - \r\n \r\n TIFT 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 4: RISK MANAGEMENT \r\n \r\nThe Board is exposed to various risks ofloss related to torts; theft of, damage to, and destruction ofassets; errors or omissions; job related illnesses or injuries to employees; natural disaster; and unemployment compensation. \r\n \r\nThe Board has obtained commercial insurance for risk 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 ofthe 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. In addition, 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 is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the same fund that the employee's salary and benefits were paid. Claims are accounted for with expenditures and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. \r\n \r\nChanges in the unemployment compensation claims liability during the last two fiscal years are as follows: \r\n \r\nBeginning ofYear Liability \r\n \r\nClaims and Changes in Estimates \r\n \r\nClaims Paid \r\n \r\nEndofYear Liability \r\n \r\n1994 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n1,697.35 $ \r\n \r\n1,697.35 $ \r\n \r\n0.00 \r\n \r\n1995 \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\nThe Board participates in the Georgia Education and Government Workers' Compensation Trust, a public entity risk pool organized on December 1, 1991 to develop, implement, and administer a program ofworkers' compensation self-insurance for its member organizations. The Board pays an annual premium to the Fund for its general insurance coverage. Additional insurance coverage is provided through an agreement by the Fund with the Continental Insurance Company to provide coverage for potential losses sustained by the Fund in excess of $250,000.00 loss per occurrence, up to $1,000,000.00. \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCAPITAL LEASE The Tift County Board ofEducation has entered into a lease agreement as lessee for equipment. This lease agreement qualifies as a capital lease for accounting purposes and, therefore, has been recorded at the present value of the future minimum lease payments as ofthe date of their inception. \r\n \r\n- 15 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1995, were as follows: \r\n \r\nBalance July 1, 1994 Additions Deductions Balance June 30, 1995 \r\n \r\nGeneral \r\n \r\nCapital \r\n \r\nObligation \r\n \r\nLeases \r\n \r\nBonds \r\n \r\nTotal \r\n \r\ns S 926,344.88 \r\n \r\ns 0.00 \r\n \r\n926,344.88 \r\n \r\n10,945,000.00 10,945,000.00 \r\n \r\n323,075.36 \r\n \r\n323,075.36 \r\n \r\ns 603+62 52 $JO 945 000 00 SJ l 548+62 52 \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\n1996 1997 1998 1999 2000 2001 and thereafter \r\nTotal Principal and Interest \r\nDeduct: Imputed Interest \r\nNet Present Value ofFuture Minimum Lease Payments \r\n \r\nCapital Leases \r\n \r\nGeneral Obligation \r\nBonds \r\n \r\nTotal Debt \r\n \r\nS 145,700.90 248,696.57 250,742.48 \r\n \r\nS 512,219.06 886,023.76 899,098.76 910,468.76 920,348.76 \r\n15,072,776.38 \r\n \r\nS 657,919.96 1,134,720.33 1,149,841.24 910,468.76 920,348.76 \r\n15,072,776.38 \r\n \r\ns 645,139.95 s12Joo 235 48 s12 846 015 43 \r\n \r\n41,870.43 \r\n \r\nS 603+6252 \r\n \r\nNote 6: SIGNIFICANT COMMITMENTS \r\n \r\nThe following is an analysis of significant outstanding construction or renovation contracts executed by the Board as ofJune 30, 1995, together with funding available: \r\n \r\nProject \r\n \r\nUnearned Executed Contracts \r\n \r\nFundinfc Availab e From State \r\n \r\n92/92S-73 7-080 94/94S-737-055 94/94S-737-056 \r\n \r\n$25,437,871.75 $ 5,630,614.00 \r\n \r\n1,926,411.69 \r\n \r\n932,647.00 \r\n \r\n1,091,007.44 \r\n \r\n413,417.00 \r\n \r\n$28.455.290.88 $ 6,976,678.00 \r\n \r\nThe amounts described in this note are not reflected in the general purpose financial statements. \r\n \r\n- 16 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXlilBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30, 1995 \r\n \r\nNote 7: CONTINGENT LIABILITIES \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, ifany, will be immaterial to its overall financial position. \r\nThe Board is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition ofthese proceedings is not presently determinable, but are not believed to be material to the general purpose financial statements. \r\nNote 8: RETIREMENT PLANS \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\nTRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS). \r\nTRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. A member is eligible for service retirement after 30 years ofcreditable service, regardless ofage, or after lOyears of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \r\nRetirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of IO years of service) and compensation up to the time of disability or death. \r\nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest. \r\nThe Board's payroll for employees covered by TRS for the year ended June 30, 1995, was $18,530,387.29; total payroll was $20,602,937.01. \r\n \r\n- 17 - \r\n \r\n TIFT 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 8: RETIREMENT PLANS \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 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 $3,114,628.61, ofwhich $2,188,204.53 was made by the Board and $926,424.08 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll. \r\n \r\nTRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected . benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers. \r\n \r\nTotal unfunded pension benefit obligation ofTRS as 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 ofJune 30, 1994. 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, 1995 were $565,117,811.00. The Board's contribution for the year ended June 30, 1995 of$2,188,204.53 was actuarially determined and represented .3872% of total contributions made by all participating employers. \r\n \r\nTen year historical trend information is presented in the 1995 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due. \r\n \r\n- 18 - \r\n \r\n TIFT 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 8: RETIREMENT PLANS \r\nPUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS) \r\nPSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodfal, 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 IO years of service and attainment ofage 65. A member applying for service retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number ofyears of creditable service. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \r\nRetirement provisions include death and disability benefits. Disability benefits are the same as ifthe employee had retired at age 65 as long as the employee has 15 or more years ofcreditable service. Death benefits are dependent upon the number ofyears of service. Ifthere are less than ten years of service, a lump sum refund ofthe employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life halfof what the employee would have received upon retirement. \r\nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest. \r\nThere were 190 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 ofTrustees. Total contributions from employees ofthe Board made during fiscal year 1995 amounted to $6,036.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1995, was $9,162,000.00. \r\nNote 9: SURETY BONDS \r\nThe School Superintendent, Dr. Daniel Lee McIntyre, is bonded in the amount of $100,000.00 with the Hartford Insurance Company, Hartford, Connecticut, their Bond No. 4669932, on which premium was paid through July I, 1995. \r\n \r\n- 19 - \r\n \r\n DEI COUNTY BOARD Of EDUCATION \r\nCOMBINING BALANCE SHEET \r\nSPECIAL REVENUE FUND JUNE 30. 1995 \r\n \r\nASSm \r\nCash and Cash Equivalents \r\nAccounts Receivable \r\nInventories Food Donaled Commodities Purchased Food \r\nTotal Assets \r\nLIABIUIIEANDEUNDEQUID'. \r\nUABJUIIE Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue Unearned L.oltery Funds \r\nTotal Liabilities \r\nEUNDEQUITY Fund Balances R8MfV9d For Continuation d Federal Program For Inventories Food Donated Commodities Purchased Food \r\nUnres81Ved Undesignated \r\nTotal Fund Equity \r\nTolal Liabilities and Fund Equity \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nSTATE PRESCHOOL HANDICAPPED \r\nPROGRAM \r\n \r\nLOTTERY PROGRAMS \r\n \r\nDRUG-FREE SCHOOLSAND COMMUNmEs \r\nACT \r\n \r\nEDUCATION OF CHILDREN IN \r\nSTATE SCHOOLS \r\n \r\n$ 1,179,450.71 $ \r\n \r\n0.00 $ 169,804.02 $ \r\n \r\n0.00 \r\n \r\n24,708.82 \r\n \r\n21,111.62 \r\n \r\n$ \r\n \r\n699.00 \r\n \r\n16,505.98 11,504.23 \r\n \r\n$ 1,232,169.74 $ \r\n \r\n0.00 $ 190,915.64 $ \r\n \r\n0.00 $ \r\n \r\n699.00 \r\n \r\n$ 28,047.51 91,862.76 \r\n$ 119,910.27 \r\n \r\n$ 9,064.05 37,759.08 144,092.51 \r\n$ 190,915.64 \r\n \r\n$ \r\n \r\n699.00 \r\n \r\n$ \r\n \r\n699.00 \r\n \r\n$ 16,505.98 11,504.23 \r\n$ 28,010.21 1,084,249.26 $ \r\n$ 1,112,259.47 $ \r\n$ 1,232,169.74 $ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n0.00 $ 190,915.64 $ \r\n \r\n0.00 $ 0.00 $ \r\n0.00 $ \r\n \r\n0.00 0.00 \r\n699.00 \r\n \r\nSae notes to the general purpose financial statements. \r\n \r\n-20- \r\n \r\n EXH1B1TE \r\n \r\nELEMENTARY AND SECONDARY EDUCATION ACT \r\n \r\nCHAPTER1 EDUCATION OF \r\nDEPRIVED CHILDREN \r\n \r\nMIGRANT PROGRAM \r\n \r\nCHAPTER2 \r\nBLOCK GRANT - \r\nFLOW THROUGH \r\n \r\nmLEHEISENHOWER MATHEMATICS ANDSCIENCE EDUCATION \r\n \r\nINDIVIDUALS WITH \r\n \r\nDISABILITIES EDUCATION ACT \r\n \r\nmLEVl,B \r\n \r\nFLOW \r\n \r\nPRESCHOOL \r\n \r\nTHROUGH \r\n \r\nPROGRAM \r\n \r\nTOTALS JUNE 30, 1995 JUNE 30, 1994 \r\n \r\n$ \r\n \r\n254.50 $ \r\n \r\n885.40 \r\n \r\n$ 1,350,394.63 $ 1,203,313.21 \r\n \r\n$ \r\n \r\n212,607.74 $ 26,933.14 \r\n \r\n$ \r\n \r\n59,220.00 $ \r\n \r\n35,739.65 \r\n \r\n381,219.97 \r\n \r\n401,219.12 \r\n \r\n16,505.98 11,504.23 \r\n \r\n24,358.82 12,981.66 \r\n \r\n$ \r\n \r\n212,607.74 $ 26,933.14 $ \r\n \r\n254.50 $ \r\n \r\n885.40 $ \r\n \r\n59,220.00 $ \r\n \r\n35,739.65$ 1,759,624.81 $ 1,841,872.81 \r\n \r\n$ \r\n \r\n21,851.88 $ 14,230.43 \r\n \r\n41,985.68 \r\n \r\n2,220.98 \r\n \r\n145,344.86 \r\n \r\n8,659.56 \r\n \r\n3,425.32 \r\n \r\n1,822.17 $ \r\n \r\n$ \r\n \r\n212,607.74 $ 26,933.14 $ \r\n \r\n254.50 254.50 \r\n \r\n$ \r\n \r\n8,516.53 $ \r\n \r\n32,971.48 $ \r\n \r\n78,469.32 $ \r\n \r\n54,871.19 \r\n \r\n8,964;69 \r\n \r\n444.21 \r\n \r\n90,727.12 \r\n \r\n192,531.74 \r\n \r\n24,484.62 \r\n \r\n2,323.96 \r\n \r\n272,675.76 \r\n \r\n302,166.46 \r\n \r\n17,254.16 \r\n \r\n60,515.23 \r\n \r\n23,285.61 \r\n \r\n54,847.85 \r\n \r\n144,092.51 \r\n \r\n$ \r\n \r\n59,220.00 $ \r\n \r\n35,739.65$ 646,479.94 $ \r\n \r\n627,702.85 \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\n0.00 $ \r\n \r\n$ \r\n \r\n212,607.74 $ 26,933.14 $ \r\n \r\n$ \r\n$ 0.00 0.00 $ 254.50 $ \r\n \r\n885.40 \r\n885.40 0.00 $ \r\n885.40 $ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n$- \r\n \r\n885.40 $ \r\n \r\n69.76 \r\n \r\n16,505.98 11,504.23 \r\n \r\n24,358.82 12,981.66 \r\n \r\n$ \r\n \r\n28,895.61 $ \r\n \r\n37,410.24 \r\n \r\n0.00 \r\n \r\n1,084,249.26 \r\n \r\n976,759.72 \r\n \r\n0.00 $ 1,113,144.87 $ 1,014,169.96 \r\n \r\n885.40 $ \r\n \r\n59,220.00 $ \r\n \r\n35,739.65 $ 1,759,624.81 $ 1,841,872.81 \r\n \r\n-21 - \r\n \r\n JFI COUNJY BOARD OF EDUCATJON CQMBfMNG STATEMENT OF RE\\IENUES EXPENPIIlJREs AND CHANGES IN FUND BALANCES \r\nSPECIAl- REVENUE FUND VEAR ENDED JUNE 30. 1995 \r\n \r\nREVENUES \r\nStallFundl Federal Funds Local and Olher Funds \r\nTotal ReeMnUN \r\nEXPENPIIYBES \r\nCurlWlt lnltruction Support ServicN PupH ServicN Improvementd lnllructional ServicN Educalional Media ServicN General Adminilllation School Admlnlstndion Mliinlilnance and Opendion d Plant Sludent Transportation Services Cenlral Support Services Olher Support Services Food Services Opendion \r\nCapital Outlay \r\nDebt Service Principal \r\nTotal Expenditures \r\nExcess d R - o v w (under) Expenditur9s \r\nQit:IEB EJNANCI~ SOURCES \r\nOperating Transfers In \r\nExcess d Revenues and Olher F\"mancing Sources ovw (under) Expenditures \r\nFUND BALANCE JULY 1 \r\nFood Inventory- Net Change in Period Donatad Commodities Pun:hasedFoocl \r\nFUND BALANCE JUNE 3Q \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nSTATE \r\nPRESCHOOL \r\nHANDICAPPED \r\nPROGRAM \r\n \r\nLOTTERY \r\nPROGRAMS \r\n \r\nDRUG-FREE SCHOOLSAND COMMUNITIES \r\nACT \r\n \r\nEDUCATION OF CHILDREN IN STATE SCHOOLS \r\n \r\n$ 158,348.00 $ 1,525,304.12 \"453,877.98 \r\n$ 2.138.528.10 $ \r\n \r\n85,351.00 $ 865,038.08 $ \r\n85,351.00 $ 865,038.08 $ \r\n \r\n'44,935.00$ 44.935.00 $ \r\n \r\n9,-485.00 9 1-485.oo \r\n \r\n$ \r\n$ 2,031,038.56 $ 2.031 .038.56 $ $ 107,\"89.54 $ \r\n \r\n85,351.00 $ 388,676.00 \r\n65,919.1.C $ 7~7.78 \r\n263,059.18 1.C,83.c.\u003e \r\n\u00264,196.17 13,068.05 \r\n1,051.66 \r\n45,104.71 \r\n102.995.\u00264 \r\n85,351.00 $ 966~.73$ \r\n0.00 $ -1,19.c.65 $ \r\n \r\n$ '44,781.33 \r\n153.67 \r\n44.935.00 $ 0.00 $ \r\n \r\n$ 107,\"89.54 $ 1.01.c.100.20 \r\n-7.852.\u00264 -1 .c77.\"3 \r\n \r\n1.1e.c.65 \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$ 1,112,259.47 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n9,-485.00 \r\n9;\"85.00 0.00 0.00 0.00 0.00 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-22- \r\n \r\n EXHIBIT\"F\" \r\n \r\nELEMENTARY ANO SECONDARY EDUCATION ACT \r\n \r\nCHAPTER1 EDUCATION OF \r\nDEPRIVED CHILDREN \r\n \r\nMIGRANT PROGRAM \r\n \r\nCHAPTER2 BLOCK GRANT FLOW THROUGH \r\n \r\nTITLEII EISENHOWER MATHEMATICS ANO SCIENCE EDUCATION \r\n \r\nINDIVIDUALS WITH \r\n \r\nDISABILITIES EDUCATION ACT \r\n \r\nTITLEVI, B \r\n \r\nFLOW \r\n \r\nPRESCHOOL \r\n \r\nTHROUGH \r\n \r\nPROGRAM \r\n \r\nTOTALS YEAR ENDED JUNE 301 1995 JUNE 30, 1994 \r\n \r\n$ 1,334,674.42 $ 117,882.54 $ $ 1,334,674.42 $ 117,882.54 $ \r\n \r\n51,708.50 $ 51,708.50 $ \r\n \r\n35,516.00 $ 323,465.84 $ 35,516.00 $ 323,465.84 $ \r\n \r\n$ 77,539.65 \r\n77,539.65$ \r\n \r\n1,209,735.08 $ 3,520,511.07 \r\n453,877.98 \r\n \r\n539,079.76 3,681,930.06 \r\n479,718.80 \r\n \r\n5,184,124.13 $ 4,700,728.62 \r\n \r\n$ 1,094,434.64 $ 117,624.58 $ \r\n \r\n2,763.42 2,404.18 103,70721 3,939.19 2,911.70 8,69920 \r\n115,814.88 \r\n \r\n257.96 \r\n \r\n$ 1,334,674.42 $ 117,882.54 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n14,614.50 $ 133.00 \r\n36,961.00 51,708.50 $ \r\n0.00 $ \r\n \r\n24,790.29 $ \r\n9,846.83 6324 \r\n \r\n189,248.11 $ 41,929.54 \r\n70,447.05 5,666.00 16,175.14 \r\n \r\n34,700.36 $ 815.64 $ \r\n \r\n323,465.84 $ 0.00 $ \r\n \r\n38,460.16 $ 27,143.73 6,500.00 5,435.76 \r\nn,539.65 $ 0.00 $ \r\n \r\n1,962,68428 $ 1,974,558.37 \r\n \r\n179,773.74 19,938.03 \r\n265,463.36 196,096.53 \r\n3,939.19 78,209.63 37,942.39 \r\n116,866.54 2,031,038.56 \r\n45,104.71 \r\n \r\n1s1,m.s1 30,292.85 \r\n4,089.45 178,767.64 \r\n4,997.95 52,643.84 21,059.88 \r\n2,22326 142,209.31 2,049,667.54 \r\n \r\n139,956.64 \r\n \r\n5,077,013.60 $ 4,658,288.00 \r\n \r\n107,110.53 $ \r\n \r\n42,440.62 \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\n815.64 $ 69.76 \r\n \r\n0.00 $ 0.00 \r\n \r\n1,194.65 \r\n \r\n4,309.71 \r\n \r\n0.00 $ 0.00 \r\n \r\n108,305.18 $ 1,014,169.96 \r\n \r\n46,750.33 984,162.06 \r\n \r\n-7,852.84 -1,477.43 \r\n \r\n-19,481.43 2,739.00 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n885.40 $ \r\n \r\n0.00 $ \r\n \r\n0.00 $ 1,113,144.87 $ 1,014,169.96 \r\n \r\n-23- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND \r\nJUNE 30. 1995 \r\n \r\nASSETS Cash and Cash Equivalents Investments \r\nTotal Assets \r\n \r\nREGULAR \r\n \r\n1995 BOND ISSUE \r\nFUND \r\n \r\nPROJECT 92/925-737-080 \r\n \r\nGEORGIA PROJECT 93194-737-065 \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n587,668.55 $ \r\n \r\n0.00 \r\n \r\n$ 1018711359.85 \r\n \r\ns_ _ _o_.oo_s 10 s11,359.85 s 1 \r\n \r\n587,668.55 s____o_.oo_ \r\n \r\nLIABILITIES AND FUND EQUITY LIABILITIES \r\nCash Overdraft Contracts Payable Retainages Payable \r\nTotal Liabilities FUND EQUITY \r\nFund Balances Reserved For Purposes of Bond Issue For State Capital Outlay Projects \r\nUnreserved Undesignated Total Fund Equity \r\nTotal Liabilities and Fund Equity \r\n \r\n$ \r\n \r\n577,ffl9.80 \r\n \r\n$ \r\n \r\n5771ffl9.80 \r\n \r\n$ 10,293,680.05 $ \r\n$ 10,293,680.05 $ \r\n \r\n5871668.55 587,668.55 \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\n$ \r\n \r\n0.00 $ 1012931680.05 $ \r\n \r\n5871668.55 $ \r\n \r\n0.00 \r\n \r\ns____o_.oo_s 10,s11,35s.ss s 587,668.55 s_____o_.oo_ \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-24- \r\n \r\n STATE FINANCING AND INVESTMENT COMMISSION \r\n \r\nPROJECT \r\n \r\nPROJECT \r\n \r\nPROJECT \r\n \r\n941948-737-055 941948-737-056 \r\n \r\n96-737-065 \r\n \r\nPROJECT 96-737-066 \r\n \r\nTOTALS \r\n \r\nJUNE 301 1995 \r\n \r\nJUNE 30, 1994 \r\n \r\n$ \r\n \r\n7,'200.07 \r\n \r\n$ \r\n \r\n5,000.00 $ \r\n \r\n599,928.62 $ 2,761,343.17 \r\n \r\n$ 1,235,056.56 \r\n \r\n640,965.67 $ \r\n \r\n175,028.33 \r\n \r\n2,448,299.24 \r\n \r\n15,370,709.65 \r\n \r\n1,402,103.50 \r\n \r\n$ 1,235,056.56 $ \r\n \r\n648,225.74 $ \r\n \r\n175,028.33 $ 2,453,299.24 $ 15,970,638.27 $ 4,163,446.67 \r\n \r\n$ \r\n \r\n16,369.13 \r\n \r\n$ \r\n \r\n16,369.13 \r\n \r\n$ \r\n \r\n594,048.93 \r\n \r\n$ \r\n \r\n$ \r\n \r\n594,048.93 $ \r\n \r\n31,140.90 3,667.71 \r\n34,808.61 \r\n \r\n$ 1,218,687.43 $ $ 1,218,687.43 $ \r\n \r\n648,225.74 $ 648,225.74 $ \r\n \r\n175,028.33 $ 175,028.33 $ \r\n \r\n$ 10,293,680.05 \r\n \r\n2,453,299.24 \r\n \r\n5,082,909.29 $ \r\n \r\n2,453,299.24 $ 15,376,589.34 $ \r\n \r\n1,238,430.80 1,238,430.80 \r\n \r\n0.00 $ 1~18,687.43 $ \r\n \r\n0.00 648,225.74 $ \r\n \r\n0.00 175,028.33 $ \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n2,453,299.24 $ 15,376,589.34 $ \r\n \r\n2,890,207.26 4,128,638.06 \r\n \r\n$ 1,235,056.56 $ \r\n \r\n648,225.74 $ \r\n \r\n175,028.33 $ 2,453,299.24 $ 15,970,638.27 $ 4,163,446.67 \r\n \r\n-25- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \r\nCAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 1995 \r\n \r\nREGULAR \r\n \r\n1995 BOND ISSUE \r\nFUND \r\n \r\nPROJECT 921925-737-080 \r\n \r\nGEORGIA . PROJECT 93194-737-065 \r\n \r\nREVENUES Local and Other Funds \r\n \r\ns \r\n \r\n87,806.04 $ \r\n \r\n80,718.69 $ \r\n \r\n0.00 S \r\n \r\n0.00 \r\n \r\nEXPENDITURES \r\n \r\nCurrent Support Services Business Administration Salaries Benefits Travel \r\nBond Issuance Cost \r\nCapital Outlay Purchased Professional and Technical Services Land and Land Improvements Building and Building Improvements Equipment \r\nTotal Expenditures \r\n \r\ns \r\n \r\n8,333.34 \r\n \r\n1,885.52 \r\n \r\n95.75 \r\n \r\n$ \r\n \r\n413,132.87 7,531.60 \r\n$ 430,979.08 $ \r\n \r\n154,358.84 $ \r\ns 1541358.84 \r\n \r\n$ \r\n90,011.25 901011.25 $ \r\n \r\n0.00 0.00 \r\n \r\nExcess of Revenues over (under) Expenditures \r\n \r\n$ -3431173.04 $ \r\n \r\n-73.640.15 $ \r\n \r\n-901011.25 $ \r\n \r\n0.00 \r\n \r\nOTHER FINANCING SOURCES (USES) \r\n \r\nProceeds from General Obligation Bonds Par Value \r\nOperating Transfers In Operating Transfers Out \r\n \r\n$ 10,945,000.00 \r\n \r\n$ -215471034.22 \r\n \r\n-5771679.80 \r\n \r\n$ -4111188.00 \r\n \r\nTotal Other Financing Sources (Uses) \r\n \r\n$ -215471034.22 $ 101367.320.20 \r\n \r\n$ -4111188.00 \r\n \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -2,890,207.26 $ 10,293,680.05 $ \r\n \r\n-90,011.25 $ -411,188.00 \r\n \r\nFUND BALANCE JULY 1 \r\n \r\n21890,207.26 \r\n \r\n0.00 \r\n \r\ns n 16 7 9 . e o \r\n \r\n4111188.00 \r\n \r\nFUND BALANCE JUNE 30 \r\n \r\ns____o_.o_o_ s 10.293 680.05 s 1 \r\n \r\n587 668.55 s_____o_.oo_ 1 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-26- \r\n \r\n EXHIBITw \r\n \r\nSTATE FINANCING AND INVESTMENT COMMISSION \r\n \r\nPROJECT \r\n \r\nPROJECT \r\n \r\nPROJECT \r\n \r\n941945-737-055 941945-737-056 \r\n \r\n96-737-065 \r\n \r\nPROJECT 96-737-066 \r\n \r\nTOTALS YEAR ENDED JUNE 301 1995 JUNE 301 1994 \r\n \r\n$ \r\n \r\n31,755.82 $ \r\n \r\n16,480.52 $ \r\n \r\n4,500.33 $ 67,765.56 $ \r\n \r\n289,026.96 $ _ _1__0_4__.,_58_1_...0...8... \r\n \r\n$ \r\n \r\n$ \r\n \r\n1,970.00 $ \r\n \r\n2,150.00 \r\n \r\n73,827.39 \r\n \r\n35,281.78 \r\n \r\n$ \r\n \r\n75,797.39 $ \r\n \r\n37431.78 $ \r\n \r\n$ \r\n \r\n-44041.57 $ \r\n \r\n-20,951.26 $ \r\n \r\n0.00 $ \r\n0.00 $ 4,500.33 $ \r\n \r\n0.00 $ \r\n0.00 $ 67,765.56 $ \r\n \r\n8,333.34 1,885.52 \r\n95.75 154,358.84 \r\n$ 4,120.00 612,253.29 7,531.60 \r\n788,578.34 $ \r\n-499,551.38 $ \r\n \r\n23,217.81 201,053.30 \r\n224,271.11 -119,690.03 \r\n \r\n$ \r\n \r\n1,159,101.00 $ \r\n \r\n$ \r\n \r\n1,159,101.00 $ \r\n \r\n$ \r\n \r\n1,115,059.43 $ \r\n \r\n103,628.00 \r\n \r\n623,242.00 $ 623,242.00 $ 602,290.74 $ 45,935.00 \r\n \r\n$ 170,528.00 $ 2,385,533.68 \r\n \r\n10,945,000.00 4,338,404.68 $ -3,535,902.02 \r\n \r\n170,528.00 $ 2,385,533.68 $ 11,747,502.66 $ \r\n \r\n1,600,000.00 1,600,000.00 \r\n \r\n175,028.33 $ 2,453,299.24 $ 11,247,951.28 $ \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n4,128,638.06 \r\n \r\n1,480,309.97 2,648,328.09 \r\n \r\n$ \r\n \r\n1,218,687.43 $ \r\n \r\n648,225.74 $ \r\n \r\n175,028.33 $ 2,453,299.24 $ 15,376,589.34 $ 4,128,638.06 \r\n \r\n-27- \r\n \r\n IIEI COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nYEAR ENDED JUNE 3Q 1995 \r\n \r\nSCHEDULE 1 \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\n \r\nCFDA \r\n \r\nAWARDS \r\n \r\n'NUMBER 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 \r\n \r\nThrough Georgia Department of Education \r\n \r\nFood and Nutrition Program \r\n \r\nFood Services \r\n \r\nSchool Breakfast Program \r\n \r\n1994Grant \r\n \r\n* 10.553 \r\n \r\n$ \r\n \r\n1995Grant \r\n \r\n* 10.553 $ 314,128.66 \r\n \r\nNational School Lunch Program \r\n \r\n1994Grant \r\n \r\n* 10.555 \r\n \r\n1995 Grant \r\n \r\n* 10.555 1,056,853.51 \r\n \r\nNutrition Education and Training Program \r\n \r\n1995 Contract \r\n \r\n10.564 \r\n \r\n1,398.00 \r\n \r\nFood Distribution Program (1) \r\n \r\n10.550 \r\n \r\n152.923.95 \r\n \r\n4,178.19 310,489.57 $ 314,128.66 \r\n \r\n17,911.19 1,035,783.78 \r\n \r\n1,056,853.51 $ \r\n \r\n1,398.00 N/A \r\n \r\n1,398.00 152.923.95 \r\n \r\n(2) \r\n1,878,114.61 (3) (2) \r\n152.923.95 \r\n \r\nTotal U.S. Department of Agriculture \r\n \r\n$ 1.5251304.12 $ \r\n \r\n11369.760.73 $ 115251304.12 $ 210311038.56 \r\n \r\nCommission on National and Community Service \r\n \r\nThrough Georgia Department of Education \r\n \r\nServe America Program \r\n \r\n1995 Grant \r\n \r\n94.004 $ 141978:00 $ \r\n \r\n8,879.37 $ 14,978.00 \r\n \r\n(4) \r\n \r\nEducation, U. S. Department of \r\n \r\nThrough Berrien County Board of Education \r\n \r\nd/b/a Southern Pines Migrant Education \r\n \r\nAgency \r\n \r\nElementary and Secondary Education Act \r\n \r\nChapter 1 \r\n \r\nMigratory Education Program \r\n \r\n1994 Regular \r\n \r\n84.011 \r\n \r\n$ \r\n \r\n1994Summer \r\n \r\n84.011 \r\n \r\n1995 Regular \r\n \r\n84.011 $ 71,436.00 \r\n \r\n1995Summer \r\n \r\n84.011 \r\n \r\n57,616.26 \r\n \r\nThrough Georgia Department of Education \r\n \r\nDrug-Free Schools and Communities Act \r\n \r\n1993 Carry-Over \r\n \r\n84.186 \r\n \r\n1994 Grant \r\n \r\n84.186 \r\n \r\n1995 Grant \r\n \r\n- 84.186 \r\n \r\n44,935.00 \r\n \r\nElementary and Secondary Education Act \r\n \r\nChapter 1 \r\n \r\nEducation of Children in State Schools \r\n \r\n1994 Regular \r\n \r\n84.009 \r\n \r\n1994 Carry-over \r\n \r\n84.009 \r\n \r\n899.00 \r\n \r\n1995 Regular \r\n \r\n84.009 \r\n \r\n8,586.00 \r\n \r\nEducation of Deprived Children \r\n \r\n1993 Carry-Over \r\n \r\n* 84.010 \r\n \r\n1994 Regular \r\n \r\n* 84.010 \r\n \r\n1994Summer \r\n \r\n* 84.010 \r\n \r\n1994 Carry-over \r\n \r\n* 84.010 \r\n \r\n222,528.00 \r\n \r\n1995 Regular \r\n \r\n* 84.010 \r\n \r\n1,090,842.00 \r\n \r\n1995Summer \r\n \r\n* 84.010 \r\n \r\n71,561.00 \r\n \r\nChapter2 \r\n \r\nBlock Grant - Flow Through \r\n \r\n1995 Regular \r\n \r\n84.151 \r\n \r\n51,963.00 \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\n32,442.00 \r\n \r\n-4,151.20 44,781.02 $ 71,436.00 \r\n \r\n21,335.57 $ 69,613.83 26,933.14 \r\n \r\n-14.48 14,554.00 44,935.00 \r\n \r\n44,935.00 \r\n \r\n21,335.57 69,613.83 26,933.14 \r\n44,935.00 \r\n \r\n2,166.00 \r\n8,586.00 \r\n98,266.00 78,276.40 49,730.84 204,000.00 895,000.00 \r\n \r\n899.00 8,586.00 \r\n26,492.00 222,528.00 1,056,574.68 \r\n29,079.74 \r\n \r\n51,963.00 \r\n \r\n51,708.50 \r\n \r\n899.00 8,586.00 \r\n26,492.00 222,528.00 1,056,574.68 \r\n29,079.74 \r\n51,708.50 \r\n \r\n3,074.00 32,442.00 \r\n \r\n3,074.00 32,442.00 \r\n \r\n3,143.76 31,556.60 \r\n \r\n- 28 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\nYEAR ENDED JUNE 30, 1995 \r\n \r\nFUNDING AGENCY \r\nPROGRAM/GRANT \r\n \r\nCFDA NUMBER \r\n \r\nAWARDS IN PERIOD \r\n \r\nFEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\nEducation, U. S. Department of \r\n \r\nThrough Georgia Department of Education \r\n \r\nIndividuals with Disabilities Education Act \r\n \r\nTitle VI, B \r\n \r\nFlow Through \r\n \r\n1993 carry-Over \r\n \r\n 84.027 \r\n \r\n1994 Regular \r\n \r\n 84.027 \r\n \r\n1994 carry-Over \r\n \r\n 84.027 $ \r\n \r\n1995 Regular \r\n \r\n 84.027 \r\n \r\nPreschool Program \r\n \r\n1993 carry-Over \r\n \r\n84.173 \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\n1994Grant \r\n \r\n84.048 \r\n \r\n1995Grant \r\n \r\n84.048 \r\n \r\nConsumer and Homemaking Education \r\n \r\n1994 Contract \r\n \r\n84.049 \r\n \r\nTech-Prep Education \r\n \r\n1994 Grant \r\n \r\n84.243 \r\n \r\n1995 Grant \r\n \r\n84.243 \r\n \r\n$ 56,720.00 295,488.00 \r\n4,324.00 88,900.00 \r\n17,382.35 \r\n25 n4.02 1 \r\n \r\nTotal U. S. Department of Education \r\n \r\n$ 211411396.63 $ \r\n \r\n11,876.82 19,835.97 22,500.00 $ 259,000.00 \r\n13,068.00 28,205.55 \r\n2,200.00 39,600.00 \r\n \r\n56,720.00 $ 266,745.84 \r\n4,324.00 73,215.65 \r\n \r\n56,720.00 266,745.84 \r\n4,324.00 73,215.65 \r\n \r\n9,035.43 17,382.35 \r\n \r\n17,382.35 \r\n \r\n791.10 \r\n \r\n12,389.58 25In4.02 \r\n \r\n25 n4.02 1 \r\n \r\n21056?03.40 $ 210381363.32 $ \r\n \r\n(4) \r\n(4) 119941391.31 \r\n \r\nHealth and Human Services, U. S. Department of \r\n \r\nThrough Georgia Department of Human Resources \r\n \r\nDevelopmental Disability Basic Support and \r\n \r\nInclusion Grant \r\n \r\n1994 Grant \r\n \r\n93.630 \r\n \r\n$ \r\n \r\n6181.33 \r\n \r\nOTHER FEDERAL ASSISTANCE \r\nDefense,U.S.Departmentof Direct Department of the Air Force R.O.T.C. Program 1994Grant 1995 Grant \r\nTotalU.S.DepartmentofDefense \r\n \r\n$ \r\n \r\n6,536.30 \r\n \r\n$ 25,878.21 . \r\n \r\n191351.81 $ 251878.21 \r\n \r\n(4) \r\n \r\n$ 251878.21 $ \r\n \r\n251888.11 $ 251878.21 \r\n \r\nTotal Federal Financial Assistance \r\n \r\n$ 3?071556.96 $ \r\n \r\n314671412.94 $ 316041523.65 $ \r\n \r\nMajor Programs are 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 \r\nassistance for donated commodities received and/or consumed by the system during the current flSCal year. \r\n(2) Expenditures for the School Breakfast Program and the Nutrition Education and Training Program were not maintained separately and are included in the 1995 National School Lunch Program. \r\n(3) Expenditures for this program include State, and/or Local and Other Funds. \r\nExpenditures are not maintained by fund source. (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\n410251429.87 \r\n \r\n- 29 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30, 1995 \r\nNONINTEREST BEARING ACCOUNTS \r\nSouth Georgia Banking Company, Tifton, Georgia \r\nINTEREST BEARING ACCOUNTS \r\nCitizens Bank of Tifton, Tifton, Georgia \r\nN.O.W. Account (5.20%) \r\nTifton Bank and Trust Company, \r\nTifton, Georgia N.O.W. Accounts (4.00%) \r\n \r\nSCHEDULE \"2\" \r\n \r\n$ \r\n \r\n9,968.70 \r\n \r\n1,169,482.01 1,333,629.99 $ 2,513,080.70 \r\n \r\nSee notes to the general purpose financial statements. - 30 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION INVESTMENTS JUNE 30, 1995 \r\nINVESTMENT POOL State of Georgia, Office of Treasury and Fiscal Services Local Government Investment Pool (6.032%) \r\n \r\nSCHEDULE \"3\" $ 17,902,075.95 \r\n \r\nSee notes to the general purpose financial statements. - 31 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30, 1995 \r\n \r\nSCHEDULE \"4\" \r\n \r\nBerrien County Board of Education d/b.la Southern Pine Migratory Education Agency Migratory Education Program \r\nDefense, Department of Department of the Air Force R.O.T.C. Program \r\nEducation, Georgia Department of Food Services School Breakfast Program N.ational School Lunch Program Lottery Programs Distant Leaming Instructional Technology Safe Schools Grant Federal Programs ESEA- Chapter 1 Education of Children in State Schools Education of Deprived Children Individuals with Disabilities Education Act TdleVI, B Flow Through Preschool Program Serve America Program \r\nTift County Tax Commissioner County Wide Bond Tax County Wide School Tax \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nDEBT \r\n \r\nGENERAL REVENUE SERVICE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 26,933.14 \r\n \r\n$ 26,933.14 \r\n \r\n$ 6,526.40 \r\n \r\n6,526.40 \r\n \r\n3,639.09 21,069.73 \r\n407.68 3,096.00 17,607.94 \r\n \r\n899.00. 212,607.74 \r\n \r\n6,098.63 \r\n \r\n59,220.00 35,739.65 \r\n \r\n$ 112,906.16 \r\n \r\n3,639.09 21,069.73 \r\n407.68 3,096.00 17,607.94 \r\n \r\n899.00 212,607.74 \r\n \r\n59,220.00 35,739.65 6,098.63 \r\n \r\n7.93 \r\n \r\n7.93 \r\n \r\n112,906.16 \r\n \r\n$ 125,531.19 $ 381,219.97 $====7==_93= $ 506,759.09 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 32 - \r\n \r\n PAYMENTS DUE IN FISCAL YEAR ENDING JUNE 30 \r\n1996 1997 1998 1999 2000 \r\n2001 2002 2003 2004 2005 \r\n2006 2007 2008 2009 2010 \r\n2011 2012 2013 2014 2015 \r\n \r\nTIFT COUNTY BOARD OF EDUCATION DEBT SERVICE REQUIREMENTS TO MATURITY \r\nJUNE 30, 1995 \r\n \r\nSCHEDULE 5 \r\n \r\nTOTAL DEBT SERVICE \r\n \r\n1995 BOND ISSUE \r\n \r\nINTEREST \r\n \r\nPRINCIPAL \r\n \r\n$ \r\n \r\n512,219.06 $ 467,219.06 $ \r\n \r\n886,023.76 \r\n \r\n621,023.76 \r\n \r\n899,098.76 \r\n \r\n609,098.76 \r\n \r\n910,468.76 \r\n \r\n595,468.76 \r\n \r\n920,348.76 \r\n \r\n580,348.76 \r\n \r\n45,000.00 265,000.00 290,000.00 315,000.00 340,000.00 \r\n \r\n933,688.76 945,188.76 959,788.76 977,168.76 981,993.76 \r\n \r\n563,688.76 545,188.76 524,788.76 502,168.76 476,993.76 \r\n \r\n370,000.00 400,000.00 435,000.00 475,000.00 505,000.00 \r\n \r\n989,723.76 994,753.76 1,002,266.26 1,011,903.76 1,023,293.76 \r\n \r\n449,723.76 419,753.76 387,26626 351,903.76 313,293.76 \r\n \r\n540,000.00 575,000.00 615,000.00 660,000.00 710,000.00 \r\n \r\n1,029,806.26 1,038,256.26 1,048,337.50 1,064,743.76 1,0711862.50 \r\n \r\n269,806.26 223,256.26 173,337.50 119,743.76 \r\n61,862.50 \r\n \r\n760,000.00 815,000.00 875,000.00 945,000.00 1,010,000.00 \r\n \r\n$ 191200,935.48 $ 812551935.48 $ \r\n \r\n1019451000.00 \r\n \r\nCHANGES IN GENERAL LONG-TERM DEBT Bonds Payable at July 1, 1994 Bonds Issued During Period \r\nBonds Payable at June 30, 1995 \r\n \r\n1995 Bond Issue \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n10,945,000.00 \r\n \r\n$ \r\n \r\n10,945,000.00 \r\n \r\nMATURITY DATES Semi-Annual Interest Payment Dates Annual Debt Retirement Date \r\nSee notes to the general purpose financial statements. - 33 - \r\n \r\nFEB 1 -AUG 1 FEB 1 \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 1995 \r\n \r\nSCHEDULE \"6\" \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 Special Instructional Assistance In-School Suspension School Counselors Grades 4 and 5 Migrant Mid-term Adjustment Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Alternative Programs At-Risk Summer School Program Environmental Science Program Innovative Programs Mentor Teacher Program Preschool Handicapped Program Remedial Summer School Program Special Education Low Incidence Grant Teachers' Retirement Lottery Programs Alternative School Program Distant Learning Instructional Technology Media Center and Library Equipment Pre-Kindergarten Program Safe Schools Grant Technology Installation \r\nGeorgia Public Telecommunication Commission Lottery Program Distant Learning \r\nOTHER Education, Georgia Department of Student Information Systems 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$ 12,913,508.00 2, 144,480.00 496,024.00 557,715.00 182,022.00 3,828,070.00 \r\n554,865.00 185,673.00 570,628.00 137,750.00 \r\n31,264.00 7,110.00 \r\n-2,459,289.00 1,689,127.00 \r\n$ 380,965.01 \r\n72,400.00 28,993.56 \r\n1,500.00 4,089.23 1,380.00 \r\n9,541.60 17,094.00 28,974.60 \r\n \r\n$ 12,913,508.00 2,144,480.00 496,024.00 557,715.00 182,022.00 3,828,070.00 \r\n \r\n159,346.00 \r\n \r\n554,865.00 185,673.00 570,628.00 137,750.00 \r\n31,264.00 7,110.00 \r\n-2,459,289.00 1,689,127.00 \r\n159,346.00 380,965.01 \r\n \r\n85,351.00 \r\n \r\n72,400.00 28,993.56 \r\n1,500.00 4,089.23 1,380.00 85,351.00 9,541.60 17,094.00 28,974.60 \r\n \r\n147,796.00 19,322.99 164,492.74 175,000.00 \r\n372,974.92 68,257.38 12,995.64 \r\n \r\n147,796.00 19,322.99 \r\n164,492.74 175,000.00 372,974.92 \r\n68,257.38 12,995.64 \r\n \r\n4,198.41 \r\n \r\n4,198.41 \r\n \r\n3,000.00 \r\n \r\n3,000.00 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n$ 21,386,885.00 $ - 34 - \r\n \r\n1,209,735.08 $ 22,596,620.08 \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE \r\nYEAR ENDED JUNE 30, 1995 \r\n \r\nSCHEDULE '7\" \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nGENERAL REVENUE PROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTAL \r\n \r\nTaxes County Wide Bond Tax County Wide School Tax Railroad Car Tax Real Estate Transfer Tax \r\n \r\n$ 5,716,401.21 5,742.24 17,925.08 \r\n \r\n$ \r\n \r\n7.93 $ \r\n \r\n7.93 \r\n \r\n5,716,401.21 \r\n \r\n5,742.24 \r\n \r\n17,925.08 \r\n \r\nother Commodity Rebates Compensation for Loss of Assets Donations For Salaries Georgia Young Farmers Association Lowndes County Board of Health Tift County Band Booster Association Tift County High School For Technical Preparation Program Moultrie Technical Institute Local Match For Transportation Berrien County Board of Education For Youth In-Service Project Clean Community Commission BellSouth Communications Indirect Cost Special Revenue Fund Interest Earned Lost and Damaged Books Rents Sales Lunches School Assets Shared Service Contributions Tifton-Tift County Public Library Tuition other \r\n \r\n$ 1,411.48 2,no.00 \r\n7,669.74 43,920.00 \r\n3,130.00 8,TT5.56 \r\n \r\n24.20 \r\n \r\n24.20 1,411.48 2,no.00 \r\n7,669.74 43,920.00 \r\n3,130.00 8,TT5.56 \r\n \r\n3,732.55 \r\n \r\n9,566.69 \r\n \r\n800.00 3,000.00 \r\n \r\n19,940.87 176,735.18 \r\n8,738.91 7,828.52 \r\n \r\n40,814.57 $ 289,026.96 \r\n \r\n413,039.21 27,508.14 \r\n \r\n1,500.00 57,620.00 \r\n5,805.80 \r\n \r\n1,033.14 \r\n \r\n3,732.55 \r\n9,566.69 \r\n800.00 3,000.00 \r\n19,940.87 507,609.85 \r\n8,738.91 7,828.52 \r\n413,039.21 27,508.14 \r\n1,500.00 57,620.00 \r\n5,805.80 \r\n \r\n$ 6,130,521.97 $ 453,8TT.98 $ 289,026.96 $ 1,041.07 $ 6,874,467.98 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 35 - \r\n \r\n  TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT GENERAL AND SPECIAL REVENUE FUNDS \r\nYEAR ENDED JUNE 30, 1995 \r\n \r\nSCHEDULE s \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 Property Services 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 Building and Building Improvements Equipment \r\n \r\nGENERAL FUND \r\n \r\nSPECIAL REVENUE \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 18,384,579.95 $ 2,210,023.72 $ 20,594,603.67 \r\n \r\n4,971,52926 \r\n \r\n609,758.89 \r\n \r\n5,581,288.15 \r\n \r\n115,055.15 \r\n \r\n24,815.08 \r\n \r\n139,870.23 \r\n \r\n103,879.90 \r\n \r\n45,424.10 \r\n \r\n149,304.00 \r\n \r\n13,089.22 \r\n \r\n13,089.22 \r\n \r\n56,812.56 \r\n \r\n56,812.56 \r\n \r\n220,883.90 \r\n \r\n39,296.08 \r\n \r\n260,179.98 \r\n \r\n10,460.00 \r\n \r\n10,040.00 \r\n \r\n20,500.00 \r\n \r\n2,600.00 \r\n \r\n2,600.00 \r\n \r\n55,144.78 \r\n \r\n769.00 \r\n \r\n55,913.78 \r\n \r\n62,967.68 \r\n \r\n4,152.03 \r\n \r\n67,119.71 \r\n \r\n12,093.43 \r\n \r\n12,093.43 \r\n \r\n18,277.00 \r\n \r\n18,277.00 \r\n \r\n95,551.66 \r\n \r\n19,230.71 \r\n \r\n114,782.37 \r\n \r\n802,054.65 \r\n \r\n358,659.01 \r\n \r\n1,160,713.66 \r\n \r\n652,933.86 \r\n \r\n30,038.92 \r\n \r\n682,972.78 \r\n \r\n1,007,393.25 \r\n \r\n1,007,393.25 \r\n \r\n149,133.49 \r\n \r\n20.00 \r\n \r\n149,153.49 \r\n \r\n18,041.46 \r\n \r\n3,813.00 \r\n \r\n21,854.46 \r\n \r\n19,940.87 \r\n \r\n19,940.87 \r\n \r\n20,019.20 \r\n \r\n4,237.60 \r\n \r\n24,256.80 \r\n \r\n218,220.70 85,154.00 4,850.00 \r\n364,231.95 \r\n \r\n139,956.64 9,000.00 \r\n26,416.91 499,334.36 \r\n \r\n358,177.34 94,154.00 31,266.91 \r\n863,566.31 \r\n \r\nTotal Expenditures \r\n \r\n$ 26,422,870.37 $ 5,077,013.60 $ 31,499,883.97 \r\n \r\nSee notes to the general purpose financial statements. - 37 - \r\n \r\n TIFT 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 Communications Other Purchased Services Supplies Dues and Fees Other Expenditures \r\nNonoperating Costs Principal Land and Land Improvements Building and Building Improvements Equipment \r\nTotal Expenditures \r\n \r\nALTERNATIVE SCHOOL PROGRAM \r\n \r\nDISTANT LEARNING \r\n \r\nINSTRUCTIONAL TECHNOLOGY \r\n \r\nMEDIA CENTER AND \r\nLIBRARY EQUIPMENT \r\n \r\n$ \r\n \r\n62,298.28 $ \r\n \r\n19,574.29 \r\n \r\n26,416.91 59,080.81 \r\n \r\n$ \r\n \r\n90,000.00 \r\n \r\n74,492.74 $ \r\n \r\n175,000.00 \r\n \r\n$ 147,796.00 $ \r\n \r\n19,574.29 $ \r\n \r\n164,492.74 s___11_s__.ooo_.oo_ \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 38 - \r\n \r\n SCHEDULE 9\" \r\n \r\nPRE-KINDERGARTEN PROGRAM \r\n \r\nSAFE SCHOOLS \r\nGRANT \r\n \r\nTECHNOLOGY INSTALLATION \r\n \r\nG.P.T.C. DISTANT LEARNING \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n176,115.78 \r\n \r\n48,010.23 \r\n \r\n7,148.24 \r\n \r\n2,362.36 \r\n \r\n470.78 \r\n \r\n8,316.81 \r\n \r\n68,332.42 \r\n \r\n875.00 \r\n \r\n224.70 \r\n \r\n$ 176,115.78 48,010.23 7,148.24 2,362.36 470.78 8,316.81 \r\n150,204.99 875.00 224.70 \r\n \r\n.9,000.00 52,118.60 $ \r\n \r\n$ 69,004.14 \r\n \r\n12,995.64 $ \r\n \r\n4,395.00 \r\n \r\n102,995.64 9,000.00 \r\n26,416.91 434,091.29 \r\n \r\n$ \r\n \r\n372,974.92 $ \r\n \r\n69,004.14 $ \r\n \r\n12,995.64 $ \r\n \r\n4,395.00 $ 966,232.73 \r\n \r\n- 39 - \r\n \r\n ;\u00267(1) \r\n+orr \r\n \r\n TIFT 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 \"1 O\" \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\nExpencfitures per Aucflt \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$ 16,111,727.00 $ \r\n \r\n537,019.00 \r\n \r\n$ 16,400,918.26 \r\n \r\n-------- 690,715.62 $ \r\n \r\n571,593.39 \r\n \r\n$ 17,091,633.88 \r\n \r\n-142,250.13 $ 16,949,383.75 \r\n \r\n$ \r\n \r\n0.00 $ = = = = =0.0=0 \r\n \r\nSee notes to the general purpose financial statements. - 41 - \r\n \r\n DEI COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REOU!REMENTS  BY PROGRAM \r\nGENERAL FUND- OUAI..ITY BASIC EDUCATION PROGRAMS \r\nYEAR ENDED JUNE 30. 1995 \r\n \r\nGENERAL ~D ~EER EDUCATION PROGRAMS Kindergarten (\") Grades1-3(\") Sub-Total- K-3 Grades4-5(\") Grades6-8(\") Grades 9  12 (\") High School Laboratories (\") Vocational Education Laboratories (\") Total General and Career Education Programs \r\nseeci\u0026. Et!UQATION PROGRAMS \r\nRegular Programs Categoiyl (\") CategoiyH (\") Categoiylll (\") Category IV (\") Sub-Total - Regular Categoiy V (Gifted) (\") Total Special Education Programs \r\nRMQ!BI. EDUCATIQN 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\n \r\nALLOTMENTS FROM DEPARTMENT OF EDUCATION \r\n \r\nREQUIRED \r\n \r\nORIGINAL \r\n \r\n'lit \r\n \r\nORIGINAL \r\n \r\nMID-TERM \r\n \r\n$ 1,285,950.00 \r\n \r\n$ 1,157,355.00 $ \r\n \r\n3,125,166.00 \r\n \r\n2,812,649.40 \r\n \r\n$ 4,411,116.00 90 $ 3,970,004.40 $ \r\n \r\n1,628,740.00 90 \r\n \r\n1,465,866.00 \r\n \r\n3,164,913.00 90 \r\n \r\n2,848,421.70 \r\n \r\n1,927,197.00 90 \r\n \r\n1.n ,4n.30 \r\n \r\n928,979.00 90 \r\n \r\n836,081.10 \r\n \r\n852,563.00 90 \r\n \r\n767,306.70 \r\n \r\n$ 12,913,508.00 \r\n \r\n$ 11,622,157.20 $ \r\n \r\n0.00 0.00 \r\n0.00 \r\n \r\n$ 1,947,114.00 \r\n \r\n$ 1,752,402.60 $ \r\n \r\n0.00 \r\n \r\n$ 1,947,114.00 90 $ 1,752,402.60 $ \r\n \r\n0.00 \r\n \r\n197,366.00 90 \r\n \r\n1n,629.40 \r\n \r\n$ 2,144,480.00 \r\n \r\n$ 1,930,032.00 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n496,024.00 90 $ \r\n \r\n446,421.60 $ \r\n \r\n0.00 \r\n \r\n$ 15,554,012.00 \r\n \r\n$ 13,998,610.80 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n436,267.00 90 $ \r\n \r\n392,640.30 $ \r\n \r\n0.00 \r\n \r\n121,448.00 90 \r\n \r\n109,303.20 \r\n \r\n$ \r\n \r\n557,715.00 \r\n \r\n$ \r\n \r\n501,943.50 $ \r\n \r\n0.00 \r\n \r\n$ 16,111,727.00 \r\n \r\n$ 14,500,554.30 $ \r\n \r\n0.00 \r\n \r\nSI~ DEVELOPMENT ffiOGRAMS \r\nCost or lnlllruclion \r\nProfesaional Development \r\nTotal Staff Development (\") ldenlifl86 Thirteen Weighted Programs. \r\n \r\n$ \r\n \r\n42,854.00 \r\n \r\n$ \r\n \r\n42,854.00 $ \r\n \r\n0.00 \r\n \r\n139,168.00 \r\n \r\n139,168.00 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n182,022.00 100 $ \r\n \r\n182,022.00 $ \r\n \r\n0.00 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n 42  \r\n \r\n SCHEDULE \"11\" \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$ 1,157,355.00 $ 1,278,255.17 $ \r\n \r\n26,153.66 $ 1,304,,408.83 \r\n \r\n2,812,649.40 \r\n \r\n3,143,063.72 \r\n \r\n79,\"68.71 \r\n \r\n3,222,532.43 \r\n \r\n$ 3,970,004.40 $ 4,421,318.89 $ \r\n \r\n105,622.37 $ 4,526,941.26 $ \r\n \r\n0.00 \r\n \r\n1,465,866.00 \r\n \r\n1,742,625.95 \r\n \r\n42,474.08 \r\n \r\n1,785,100.03 \r\n \r\n0.00 \r\n \r\n2,848,421.70 \r\n \r\n3,083,397.62 \r\n \r\n93,611.53 \r\n \r\n3,1n,009.15 \r\n \r\n0.00 \r\n \r\n1,734,4n.30 \r\n \r\n2,025,129.19 \r\n \r\n1\"\"\",257.29 \r\n \r\n2,169,386.48 \r\n \r\n0.00 \r\n \r\n836,081.10 \r\n \r\n859,312.58 \r\n \r\n41,320.47 \r\n \r\n900,633.05 \r\n \r\n0.00 \r\n \r\n767,306.70 \r\n \r\n881,108.61 \r\n \r\n95,044.43 \r\n \r\n976,153.04 \r\n \r\n0.00 \r\n \r\n$ 11,822,157.20 $ 13,012,892.84 $ \r\n \r\n522,330.17 $ 13,535,223.01 \r\n \r\n$ 1,752,402.80 $ \r\n \r\n1,026.70 1,034,414.26 $ \r\n980,554.10 42,489.36 \r\n \r\n$ 18,734.12 15,053.26 \r\n906.49 \r\n \r\n1,026.70 1,053,148.38 \r\n995,607.36 43,395.85 \r\n \r\n$ 1,752,402.80 $ 2,058,484.42 $ \r\n \r\n34,693.87 $ 2,093,178.29 \r\n \r\n0.00 \r\n \r\n1n,629.40 \r\n \r\n274,155.91 \r\n \r\n5,\"68.66 \r\n \r\n279,624.57 \r\n \r\n0.00 \r\n \r\n$ 1,930,032.00 $ 2,332,640.33 $ \r\n \r\n40,162.53 $ 2,372,802.86 \r\n \r\n$ \r\n \r\n\"\"\"6,421.60 $ \r\n \r\n474,542.19 $ \r\n \r\n9,100.69 $ \r\n \r\n483,642.88 \r\n \r\n0.00 \r\n \r\n$ 13,998,610.80 $ 15,820,075.36 $ \r\n \r\n571,593.39 $ 16,391,668.75 \r\n \r\n$ \r\n \r\n392,640.30 $ \r\n \r\n580,842.90 \r\n \r\n$ \r\n \r\n580,842.90 \r\n \r\n0.00 \r\n \r\n109,303.20 \r\n \r\n$ \r\n \r\n119,122.23 \r\n \r\n119,122.23 \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n501,943.50 $ \r\n \r\n580,842.90 $ \r\n \r\n119,122.23 $ \r\n \r\n699,965.13 \r\n \r\n$ 14,500,554.30 $ 16,400,918.26 $ \r\n \r\n690,715.62 $ 17,091,633.88 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n42,854.00 \r\n \r\n139,168.00 \r\n \r\ns_ _1_a2_..02_2_.oo_ \r\n \r\n$ \r\n \r\n53,\"\"\"\"'.56 $ \r\n \r\n53,\"\"\"\"'.56 \r\n \r\n137,214.93 \r\n \r\n137,214.93 \r\n \r\n$ \r\n \r\n190,659.49 $ \r\n \r\n190,659.49 s_ _ _ _ _ _o_.oo_ \r\n \r\n- 43 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \r\nYEAR ENDED JUNE 30, 1995 \r\n \r\nSCHEDULE \"12\" \r\n \r\nBOARD MEMBER ADDRESS \r\n. Mr. Hal Henderson, Chairman (*) 2006 North Park Avenue Tifton, Georgia 31794 \r\nMs. Nancy Davis (*) 901 East 24th Street Tifton, Georgia 31794 \r\nMr. Tim Dorminey (*) 4425 Frazier Circle Tifton, Georgia 31794 \r\nMr. Roy Jackson, Jr. Route 4, 8ox 2000 Tifton, Georgia 31794 \r\nMr. Tommy Lindsey(*) P. 0. Box98 Omega, Georgia 31n5 \r\nMs. Barbara McCoy(*) 2606 Wilson Avenue Tifton, Georgia 31794 \r\nMs. Mary McMillion (*) 1501 South Central Avenue Tifton, Georgia 31794 \r\nMs. Leona Mott (*) 3111 Eason Avenue Tifton, Georgia 31794 \r\n \r\nCOMPENSATION \r\n \r\nTRAVEL \r\n \r\n$ \r\n \r\n2,050.00 $ \r\n \r\n927.61 \r\n \r\n950.00 \r\n \r\n220.26 \r\n \r\n1,150.00 \r\n \r\n134.88 \r\n \r\n400.00 \r\n \r\n1,350.00 \r\n \r\n337.90 \r\n \r\n2,000.00 \r\n \r\n469.38 \r\n \r\n1,400.00 \r\n \r\n349.19 \r\n \r\n1,350.00 \r\n \r\n(*) Denotes Board Members Serving as of June 30, 1995 \r\n \r\n$ \r\n \r\n10,650.00 $ ====2=,4=39=.2=2 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 44 - \r\n \r\n SECTION IT COMPLIANCE \r\n \r\n CLAUDE L. VICKERS \r\nSTAlE 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\nAugust 14, 1996 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Tift 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 Tift County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated August 14, 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\nCompliance with laws, regulations, contracts, and grants applicable to Tift County Board ofEducation 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 \r\ncompliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective of our \r\naudit 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 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 ofpublic record. \r\nRespectfully submitted, \r\n~.,_~~~~ \r\nClaude L. Vickers State Auditor \r\nCLV:cm 95CRL-10 \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\nAugust 14, 1996 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Tift 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 Tift County Board ofEducation as ofand for \r\n \r\nthe year ended June 30, 1995, and have issued our report thereon dated August 14, 1996. This report was \r\n \r\nqualified for various departures from generally accepted accounting principles, as identified in the auditor's \r\n \r\nreport on the general purpose financial statements. \r\n \r\n \r\n \r\nWe have applied procedures to test the Board's compliance with the following requirements applicable to each ofits Federal financial assistance programs, which are listed in the Schedule ofFederal Financial Assistance, for the year ended June 30, 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) 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 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. Acc\u003c_\u003erdingly, we do not express such an opinion. \r\n \r\n95CRL-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 ofthis report. With respect to items not tested, nothing came to our attention that caused us to believe that the Tift 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\nCLV:cm 95CRL-40 \r\n \r\n~vol~~ \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\nAugust 14, 1996 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board ofEducation \r\nand Superintendent and Members ofthe Tift 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 Tift County Board ofEducation as ofand for the year ended June 30, 1995, and have issued our report thereon dated August 14, 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 also audited the Tift 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 programs, which are identified in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1995. The management of the Tift 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 Tift County Board ofEducation's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion. \r\nIn our opinion, the Tift County Board ofEducation complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance programs for the year ended June 30, 1995. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n4~~) \r\nClaude L. Vickers State Auditor \r\nCLV:cm 95CRL-80 \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\nAugust 14, 1996 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Tift 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 Tift County Board ofEducation as ofand for the year ended June 30, 1995, and have issued our report thereon dated August 14, 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 of the fiscal year 1995 general purpose financial statements of the Tift 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) Eligibility \r\n \r\nOur procedures were substantially less in scope than an audit, the objective of which is the expression ofan opinion on the Tift County Board ofEducation's compliance with these requirements. Accordingly, we do not express such an opinion. \r\n \r\nWith respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Tift County Board ofEducation had not complied, in all material respects, with those requirements. \r\n \r\n95CRL-120 \r\n \r\n This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\n_Respectfully submitted, \r\n~...,.,;r:- ~,,) \r\nClaude L. Vickers State Auditor \r\nCLV:cm 95CRL-120 \r\n \r\n SECTION ill INTERNAL CONTROL \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\nAugust 14, 1996 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Tift 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 Tift County Board ofEducation as ofand for the year ended June 30, 1995, and have issued our report thereon dated August 14, 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 Tift County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness ofthe design and operation of policies and procedures may deteriorate. \r\n \r\n95ICL-3 \r\n \r\n In planning and performing our audit ofthe general purpose financial statements ofthe Tift County Board of Education for the year ended June 30, 1995, we obtained an understanding ofthe internal control structure. With respect to the internal control structure, we obtained an understanding ofthe design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose :financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion. \r\nWe noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute ofCertified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report :financial data consistent with the assertions of management in the general purpose :financial statements. \r\nAs described in the Schedule offindings and Improper or Questioned Costs, a reportable condition was noted in the following control category: \r\nGeneral Fixed Assets \r\nA material weakness is a reportable condition in which the design or operation of one or more ofthe internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. \r\nOur consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition disclosed above is also considered to be a material weakness. \r\nThis condition was considered in determining the nature, timing, and extent ofthe procedures to be performed in our audit ofthe Tift County Board ofEducation's financial statements and this report does not affect our report thereon dated ~ugust 14, 1996. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\nf f4-,,(.#;.,: ~ . . J \r\nClaude L. Vickers State Auditor \r\nCLV:cm 95ICL-3 \r\n \r\n CLAUDE L. VICKERS \r\nSTAlE AUDllOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS AND ACCOUNTS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nAugust 14, 1996 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members of the Tift 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 Tift County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated August 14, 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 Board's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated August 14, 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 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 Tift 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 ofexpressing 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 August 14, 1996. \r\n95ICL-5 \r\n \r\n The management of the Tift County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this respo11S1bility, 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 ofinherent limitations in any internal control structure, errors, irregularities or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation ofthe structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness ofthe design and operation of policies and procedures may deteriorate. \r\n \r\nFor the purposes of this report, we have classified the significant internal control structure policies and procedures used in administering Federal financial assistance programs in the following control categories: \r\n \r\nGENERAL REQUIREMENTS \r\n \r\nSPECIFIC REQUIREMENTS \r\n \r\n(1) Political Activity (2) Civil Rights (3) Cash Management (4) Federal Financial Reports \r\n \r\n(1) Types of Services Allowed or Unallowed \r\n(2) Eligibility \r\n(3) Matching, Level ofEffort, 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-Up/Resolution (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 ofthe design ofrelevant policies and procedures and whether they have been placed in operation, and we assessed control risk. \r\n \r\nDuring the year ended June 30, 1995, the Tift County Board ofEducation expended 84% ofits total Federal financial assistance under major Federal financial assistance programs. \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 each of the Board's major Federal financial assistance programs, which \r\n \r\n95ICL-5 \r\n \r\n are identified in the Schedule ofFederal F~cial Assistance. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. \r\nOur consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might constitute material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a 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 iJ?. the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n~__.c,;e~-~ \r\nClaude L. Vickers State Auditor \r\nCLV:cm 95ICL-5 \r\n \r\n SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\n \r\n TIFT 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: $31,327.10 Audit Control Number 7371-93-02 \r\nThe audit report for the year ended June 30, 1993, disclosed that the Staff Development - Professional Development Stipends Program had an underexpenditure of Quality Basic Education (QBE) funds of $31,327.10 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 ofEducation to refund this underexpenditure as required. The underexpenditure of$31,327. 10 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 Expenditures in Excess ofBudget Federal Financial Assistance Audit Control Number 7371-94-01 Finding Resolved \r\nThe audit report for the year ended June 30, 1994, noted that the Board overspent a budget category in Individuals with Disabilities Education Act, Title VI, B - Flow Through funds (CFDA 84.027) in the amount of$11,797.73 without seeking the required prior approval of the Georgia Department ofEducation. During the year under review, the Georgia Department of Education Division for Exceptional Students reviewed this matter and determined that the budget overexpenditures were made for proper program purposes and therefore were allowable. \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 7371-93-01 \r\nThe audit report for the year ended June 30, 1994, noted that the management of the Tift County Board of Education had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board \r\n- 1- \r\n \r\n TIFT 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 7371-93-01 \r\nto establish accounting controls and procedures to provide for maintenance ofa General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. \r\nCURRENT YEAR \r\nCASH MANAGEMENT Excessive Lottery Cash Balance Financial Statements Nonmaterial Noncompliance Audit Control Number 73 71-95-0 l \r\nA review ofcash management procedures for the Lottery - Instructional Technology Program and Technology Installation Program disclosed that cash draws were made in advance ofimmediate cash needs, resulting in the accumulation ofexcessive cash balances. At June 30, 1995, these reimbursement basis programs had cash balances of$57,088.15 and$ 87,004.36, respectively. Procedures should be implemented to minimize the time elapsed between the transfer offunds from the Georgia Department ofEducation anci disbursement of such funds by the Board. The Georgia Department ofEducation should review this matter to determine if a reclaim offunds is appropriate. \r\nNote: The Tift County Board ofEducation was provided an opportunity to include pertinent comments from the Board's management concerning these audit findings, conclusions and recommendations. The Board has elected not to provide comments for inclusion in this report. \r\n-2- \r\n \r\n "},{"id":"dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1993-h94","title":"Audit report, Tift County Board of Education, Tifton, Georgia, year ended June 30, 1994","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia. Department of Audits.","Georgia. Department of Audits and Accounts."],"dcterms_spatial":["United States, Georgia, Tift County, 31.45744, -83.52659"],"dcterms_creator":["Georgia. Department of Audits"],"dc_date":["1994-06-30"],"dcterms_description":["-year ended June 30, 1999.","Report year covers fiscal year.","Issued by the Georgia Dept. of Audits and Accounts, year ended June 30, 1996-year ended June 30, 1999","Has supplements: Supplementary information, Tift County Board of Education, Tifton, Georgia, summary and schedule of salaries and travel, -year ended June 30, 1998; Tift County Board of Education, Tifton, Georgia, schedule of salaries and travel, year ended June 30, 1999.","Year ended June 30, 1994 (online surrogate); title from PDF cover (Georgia Government Publications database, viewed July 20, 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":["Tift County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","Education--Georgia--Tift County--Auditing--Periodicals.","Education--Georgia--Tift County--Finance--Statistics--Periodicals.","Georgia Government Documents--Serial"],"dcterms_title":["Audit report, Tift County Board of Education, Tifton, 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-bt5-b1993-h94"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bt5-b1993-h94"],"dcterms_temporal":null,"dcterms_rights_holder":["\u0026copy; Georgia Department of Audits"],"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"ur\\ \r\nA800 JU \r\n\".;2.(o \r\n-rs \r\n,9q3-44 \r\nSTATE OF GEORGIA DEPARTMENT OF AUDITS \r\n254 WASHINGTON STREET ATLANTA. GEORGIA 30334 \r\n \r\n AUDIT REPORT TIFT COUNTY BOARD OF EDUCATION \r\nTIFTON, GEORGIA YEAR ENDED JUNE 30, 1994 \r\n \r\n TIFT 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\n4 \r\n \r\nC \r\n \r\nCOMBINED STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES -ACTUAL AND BUDGET \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\n5 \r\n \r\nD NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\n6 \r\n \r\nADDITIONAL FINANCIAL INFORMATION \r\n \r\nCOMBINING 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\n22 \r\n \r\nCAPITAL PROJECTS FUND \r\n \r\nG \r\n \r\nCOMBINING BALANCE SHEET \r\n \r\n26 \r\n \r\nH \r\n \r\nCOMBINING STATEMENT OF REVENUES, EXPENDITURES AND \r\n \r\nCHANGES IN FUND BALANCES \r\n \r\n28 \r\n \r\nSCHEDULES \r\n \r\n1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE \r\n \r\n30 \r\n \r\n2 ANALYSIS OF CASH AND CASH EQUIVALENTS \r\n \r\n32 \r\n \r\n3 INVESTMENTS \r\n \r\n33 \r\n \r\n4 ACCOUNTS RECEIVABLE \r\n \r\n34 \r\n \r\nSCHEDULE OF REVENUE \r\n \r\n5 \r\n \r\nSTATE FUNDS \r\n \r\n35 \r\n \r\n6 \r\n \r\nLOCAL AND OTHER FUNDS \r\n \r\n36 \r\n \r\n TIFT COUNTY BOARD OF EDUCATION  TABLE OF CONTENTS. \r\n \r\n~ \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\n7 \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\n37 \r\n \r\n8 \r\n \r\nLOTTERY PROGRAMS \r\n \r\n38 \r\n \r\nANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS \r\n \r\nGENERAL FUND QUALITY BASIC EDUCATION PROGRAMS \r\n \r\n9 \r\n \r\nOVERALL \r\n \r\n41 \r\n \r\n10 \r\n \r\nBY PROGRAM \r\n \r\n42 \r\n \r\n11 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \r\n \r\n44 \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 TIFT 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\nMarch 22, 1995 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Tift 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 Tift 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 of the Board's management. Our responsibility is to express an opinion on these financial statements based on our audit. \r\nWe conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. \r\nAs described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: \r\n* The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. \r\n94ARL-13 \r\n \r\n * School activity accounts maintained at the individual schools are not included in the general purpose 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, 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 of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were improperly recorded in the year ended June 30, 1994. To confonn to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. \r\nThe aggregate effects on the general purpose financial statements of these variances or omissions have not been 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 ofthe Tift County Board of Education as ofJune 30, 1994, and the results ofits 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 Tift County Board of Education taken as a whole. The combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 11 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 Tift 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 infonnation 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 to the press of the State, as provided for by Official Code ofGeorgia Annotated Section 50-6-24. \r\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:cm 94ARL-13 \r\n \r\n TIFTCOUNTYBOARDOFEDUCATION \r\n- 1- \r\n \r\n ~ \r\ncash and Cash Equivalents \r\nInvestments \r\nAccounts Receivable \r\nInventories Food Donated Commodities Purchased Food \r\nPrepaid Items \r\nAmount to be Provided In Future Years \r\nFor Payment of Capital Lease Agreements \r\nTotal Assets \r\nLll',!:llLIIlfa l',Nbl FUNbl ~Q!JIIX \r\n~ \r\nAccounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue Unearned Revenue capital Lease Agreements \r\nTotal Liabilities \r\nF!Jt,!Q l;QIJIIX \r\nFund Balances Reserved For Continuation of Federal Programs For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For State Capital Outlay Projects \r\n,, \r\nUnreserved Undesignated \r\nTotal Fund Equity \r\nTotal Liabilities and Fund Equity \r\n \r\nGENERAL FUND \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\n$ 1,572,125.34 $ 1,146,442.02 $ 2,761,343.17 $ \r\n \r\n22,910.40 \r\n \r\n1,536,478.50 \r\n \r\n1,402,103.50 \r\n \r\n134,379.60 \r\n \r\n401,219.12 \r\n \r\n3.30 \r\n \r\n24,358.82 12,981.66 \r\n \r\n$ 3 242 983.44 $ 1 587 001.62 $ 4163 446.67 $ \r\n \r\n22913.70 \r\n \r\n$ \r\n \r\n37,797.02 $ 192,531.74 \r\n \r\n302,166.46 \r\n \r\n23,285.61 \r\n \r\n$ \r\n \r\n31,140.90 \r\n \r\n3,667.71 \r\n \r\n54,847.85 \r\n \r\n$ \r\n \r\n37797.02 $ 572831.66 $ \r\n \r\n34808.61 \r\n \r\n$ \r\n \r\n$ \r\n \r\n31,327.10 \r\n \r\n69.76 \r\n \r\n24,358.82 12,981.66 \r\n$ 1238430.80 \r\n \r\n$ \r\n \r\n31,327.10 $ \r\n \r\n37,410.24 $ 1,238,430.80 \r\n \r\n3173859.32 \r\n \r\n976759.72 \r\n \r\n2 890 207.26 $ \r\n \r\n$ 3 205 186.42 $ 1 014169.96 $ 4 128 638.06 $ \r\n \r\n22913.70 22913.70 \r\n \r\n$ 3 242 983.44 $ 1587001.62 $ 4163446.67 $ \r\n \r\n22913.70 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement.  2. \r\n \r\n EXHIBIT\"A\" \r\n \r\nACCOUNT GROUP GENERAL \r\nLONG-TERM DEBT \r\n \r\nTOTALS \r\n{Memorandum On!n JUNE 30 1994 JUNE30 1993 \r\n \r\n$ 5,504,820.93 $ 2,416,534.79 \r\n \r\n2,938,582.00 \r\n \r\n3,756,219.44 \r\n \r\n535,602.02 \r\n \r\n480,605.52 \r\n \r\n24,358.82 12,981.66 \r\n \r\n43,840.25 10,242.66 \r\n795.00 \r\n \r\n$ \r\n \r\n926344.88 \r\n \r\n926344.88 \r\n \r\n$ \r\n \r\n926344.88 $ 9 942 690.31 $ 6 708237.66 \r\n \r\n$ 230,328.76 $ \r\n \r\n75,748.47 \r\n \r\n302,166.46 \r\n \r\n264,818.40 \r\n \r\n23,285.61 \r\n \r\n5,210.69 \r\n \r\n31,140.90 \r\n \r\n3,667.71 \r\n \r\n12,918.00 \r\n \r\n54,847.85 \r\n \r\n125.00 \r\n \r\n$ \r\n \r\n926344.88 \r\n \r\n926344.88 \r\n \r\n$ \r\n \r\n926344.88 $ 1 571 782.17 $ 358820.56 \r\n \r\n$ \r\n \r\n69.76 $ \r\n \r\n4,831.83 \r\n \r\n31,327.10 \r\n \r\n31,327.10 \r\n \r\n24,358.82 12,981.66 1238430.80 \r\n \r\n43,840.25 \r\n10,242.66 1 088867.80 \r\n \r\n$ 1,307,168.14 $ 1,179,109.64 \r\n \r\n7063740.00 5170307.46 \r\n \r\n$ 8370908.14 $ 6349417.10 \r\n \r\n$ \r\n \r\n926344.88 $ 9 942 690.31 $ 6708237.66 \r\n \r\n-3 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATJON CQMRINEP TATEMENT OF REVENUES EXf\u003esNQfTLJRES ANP CHANGES IN FLJNP BAl.ANCES \r\nGOYsBNMENTAL RJNP TVPES \r\nVEAR ENPEP JUNE 30 1fflW \r\n \r\nEXHIBIT\"B\" \r\n \r\n~ \r\nState Funds Federal Funds Local and Other Funds \r\nTotal Revenues \r\nEXPENPITURES \r\nCurrent lnsbuctian \r\n-SupportPupilImprovement al lnstrucliona I \r\nEducational Media General Administration Schom Administration Business Administration Maintenance and Operation of \r\nPlant Student Tranapor1atlon Central Support Othe\u003cSupportFood -Operation Othe\u003c Operations\"' NonInstructional SeJvices Capital0u1Jay \r\nTotal Expenditures \r\n\"\" Excess al Re,enues (under) ExpendihKes \r\nQltH~R ~ g l ~ SQ!.:!B.Ql;S (YS!;~ \r\nCapital leases Operating Transfer\u0026 In Operating Transfers Out \r\nTotal Othe\u003c Financing Soult:8S \r\n\u003cUs-) \r\nExcess of Revenues and Other Financing Sources over (under) Expenditures and \r\nOthe\u003c - n g Uaes \r\nEYNP ~..aHCE J!JLY 1 \r\nFood lmenlary Donated Commodities Jwyl June 30 Purchased Food July1 June30 \r\n \r\nGENERAL FUND \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nREVENUE \r\n \r\nPROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTALS \r\n \r\n20,639,966.TT $ 106,157.43 \r\n6070 023.73 \r\n \r\n539,079.76 3,681,930.06 \r\n479 718.80 $ \r\n \r\n26 816 147.93 $ 4 700n8.62 $ \r\n \r\n104 581.08 $ 104 581.08 $ \r\n \r\n871.82 \r\n \r\n21,179,046.53 $ 3,788,087.49 6655195.43 \r\n \r\n20,310,632.89 4,390,798.93 5 612 431.65 \r\n \r\n871.82 $ 31 622 329.45 $ 30 313 863.47 \r\n \r\n17,904,948.98 $ 1,974,558.37 \r\n \r\n1,051,993.89 \r\n \r\n197,TT7.91 \r\n \r\n492,976.37 700,116.21 \r\n509,395.47 1,767,867.00 \r\n109,168.97 \r\n \r\n30,292.85 4,089.45 178,767.64 4,997.95 \r\n \r\n1,658,810.n 1,046,71827 \r\n108,982.39 22,600.34 \r\n \r\n52,643.84 21,068.88 \r\n2,22326 142,209.31 2,049,667.54 \r\n \r\n193,828.74 60473.40 \r\n \r\n25627881.75 $ 4658286.00 $ \r\n \r\n224J71.11 224~71.11 $ \r\n \r\n1186~.18 $ \r\n \r\n42 440.62 $ -119 690.03 $ \r\n \r\n0.00 $ 19,879,507.35 $ 18,630,444.85 \r\n \r\n1,249,TT1.80 \r\n \r\n1,194,146.96 \r\n \r\n523,289.22 704,205.66 688,163.11 1,1n,864.95 109,168.97 \r\n \r\n442,811.26 671,463.93 780,058.39 1,n5,275.76 \r\n18,567.70 \r\n \r\n1,711,454.56 1,067,TT8.15 \r\n111,205.65 164,809.65 2,049,667.54 \r\n \r\n1,790,766.55 1,064,587.49 \r\n173,583.82 170,390.82 1,923,853.n \r\n \r\n193,826.74 284 744.51 \r\n \r\n184,954.81 340 381.53 \r\n \r\n0.00 $ 30510440.86 $ 29111Jl!7.58 \r\n \r\n871.82 $ 1111 888.58 $ 1~565.88 \r\n \r\n926,344.86 $ \r\n-1 604 309.71 \r\n-677964.83 $ \r\n \r\n4,309.71 $ 1,600,000.00 4 309.71 $ 1 600000.00 \r\n \r\n926,344.88 1,604,309.71 $ -1 604 309.71 \r\n \r\n1,150,000.00 -1 150 000.00 \r\n \r\n926 344.86 S \r\n \r\n0.00 \r\n \r\n510,301.35 $ 2,684,865.07 \r\n \r\n46,750.33 $ 1,480,308.97 $ 984,162.06 2,646,328.09 \r\n \r\n871.82 $ 22,041.88 \r\n \r\n2,038,233.47 S 6,349,417.10 \r\n \r\n1,202,565.88 5,158,584.47 \r\n \r\n-43,840.25 24,358.82 \r\n-10,242.66 12 981.66 \r\n \r\n-43,840.25 24,358.82 \r\n-10,242.66 12.981.66 \r\n \r\n-57,137.97 43.840.26 \r\n-8,678.19 10 242.86 \r\n \r\nEY~P ~L.!NCE ~~me~ \r\n \r\n3 205 186.42 $ 1 014 169.96 $ 4128638.06 $ \r\n \r\n22 913.70 $ 8 370\u0026!!.14 $ 6349 417.10 \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. -4- \r\n \r\n TIFT COUNIY BOARD OE EDUCATION COMBINED STATEMENT OF BE\\/ENUFS EXPENDJIUBES AND CHANGES IN FUND BAI ANCES \r\nACTIJAL ANP BUDGFT- GOVERNMENTAi FUND TYPES YEAR ENPEP JUNE :30 1994 \r\n \r\nEXHIBIT\"C\" \r\n \r\nACTUAL PER \r\nEXHIBIT\"B\" \r\n \r\nADJUSTMENTS \r\n \r\nACTUAL PER \r\nBUDGET BASIS \r\n \r\nBUDGET \r\n \r\nVARIANCE FAVORABLE (UNFAVORABLE) \r\n \r\n~ \r\nState Funds Federal Funds Local and Other Funds \r\n \r\n$ 21,179,046.53 $ 3,788,087.49 \r\n6,655, 195.43 \r\n \r\n0.00 $ \r\n \r\n21,179,046.53 $ 21,405,399.16 $ 3,788,087.49 3,463,573.00 6,655 195.43 5,974,352.00 \r\n \r\n-226,352.63 324,514.49 680843.43 \r\n \r\nTotal Revenues \r\n \r\n31,622,329.45 $ \r\n \r\n0.00 $ 31,622 329.45 $ 30,843,324.16 $ \r\n \r\nTT9,005.29 \r\n \r\nEXPEN!;l!I!.!RES \r\n \r\nCurrent 1-..ction Support Services Pupil services Improvement of Instructional Services Educational Media SelVices General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation SelVices Central Support 5elVices Other Support SelVices Food Services Operation Other Operations of NonInstructional Services \r\nC.pital Outlay \r\n \r\n$ 19,879,507.35 $ \r\n1,249,TT1.80 523,269.22 704,205.66 688,163.11 \r\n1,m,864.95 109,169.97 \r\n1,711,454.56 1,067,TT8.15 \r\n111,205.65 164,809.65 2,049,667.54 \r\n193,828.74 284,744.51 \r\n \r\n0.00 $ \r\n \r\n19,879,507.35 $ 19,486,206.16 $ \r\n \r\n1,249,TT1 .80 523,269.22 704,205.66 688,163.11 \r\n1,m,864.95 109,169.97 \r\n1,711,454.56 1,067,TT8.15 \r\n111,205.65 164,809.65 2,049,667.54 \r\n \r\n1,266,519.00 551,257.00 \r\n978,200.00 \r\n1os,n4.oo \r\n1,804,032.00 126,000.00 \r\n1,881,137.00 1,180,878.00 \r\n108,800.00 131,093.00 1,831,500.00 \r\n \r\n193,828.74 284 744.51 \r\n \r\n197,200.00 143,000.00 \r\n \r\n-393,301.19 \r\n16,747.20 27,987.78 273,994.34 17,560.89 31,167.05 16,830.03 169,682.44 113,099.85 -2,405.65 -33,716.65 -218,167.54 \r\n3,37126 -141,744.51 \r\n \r\nTotal Expendlturas \r\n \r\n$ 30,510,440.86 $ \r\n \r\n0.00 $ 30,510,440.86 $ 30,391,546.16 $ -118,894.70 \r\n \r\nExcess of Revenues over (under) Expenditures $ 1,111,888.59 $ \r\n \r\n0.00 $ 1111,888.59 $ 451,TT8.00 $ \r\n \r\n680,110.59 \r\n \r\nQTl::IER FU~ANCIN~ SQYBCES (!JSESl \r\n \r\ncapital Leases Other Sources Other Uses \r\n \r\n$ 926,344.88 1,804,309.71 $ -1,604,309.71 \r\n \r\n$ 0.00 \r\n \r\n926,344.88 \r\n \r\n$ \r\n \r\n1,604,309.71 $ 1,307,855.00 \r\n \r\n-1 604,309.71 \r\n \r\n-878,797.00 \r\n \r\n926,344.88 296,454.71 -n5512.11 \r\n \r\nTotal other Financing Sources (Uoes) \r\n \r\n$ 926,344.88 $ \r\n \r\n0.00 $ \r\n \r\n926,344.88 $ 429,058.00 $ \r\n \r\n497,286.88 \r\n \r\nExcess of Revenues and Other Financing Sourcas over (under) Expenditures and other Financing Uses \r\nF!,!!!l!;l 1!61 ~!:;E J!JLY 1 1993 \r\n \r\n2,038,233.47 $ 6,349,417.10 \r\n \r\n0.00 $ -54,082.91 \r\n \r\n2,038,233.47 $ 880,836.00 $ 6,295,334.19 6,495,156.04 \r\n \r\n1,157,397.47 -199,821.85 \r\n \r\n,!li;iJ!JiilTME!!!Il! \r\n \r\nPrior Year (Net) \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\n-19,408.94 \r\n \r\n19,408.94 \r\n \r\nFQQ!;l l!!l~ENTQBY \r\n \r\nDonated Commodities \r\n \r\nJuly 1, 1993 \r\n \r\n-43,840.25 \r\n \r\n43,840.25 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\nJune 30, 1994 \r\n \r\n24,358.82 \r\n \r\n-24,358.82 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\nPurchased Food \r\n \r\nJuly 1, 1993 \r\n \r\n-10,242.66 \r\n \r\n10,242.66 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\nJune 30, 1994 \r\n \r\n12,981.66 \r\n \r\n-12,981.66 \r\n \r\n0.00 \r\n \r\n0.00 \r\n \r\nF!,!~!;l lle,L,!INQE J!JNE ~ 1 ~ \r\n \r\n$ 8,370,908.14 $ -37,340.48 $ \r\n \r\nThe notes to the general purpose financial statements are an integral part of this statement. \r\n \r\n8 333,567.66 $ 7,356,583.10 $ \r\n \r\n-5- \r\n \r\n976,984.56 \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXIIlBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAi STATEMENTS \r\n \r\nJUNE 30 1994 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nThe Tift County Board of Education (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. With the exception ofthe departures from generally accepted accounting principles disclosed in the following paragraphs, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards. \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 ofthe Tift County Board ofEducation. \r\nBased upon the application of the above criteria, the Tift 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 Tift 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 TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30 1994 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nAlthough \"school activity accounts\" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. \r\nThe general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: \r\nGOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's general activities. Governmental Fund Types include: \r\nGENERAL FUND - the fund used to account for all financial resources of the Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services traditionally provided by a board of education. \r\nSPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund; however, the Board chooses not to 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\nDEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees. All outstanding principal and interest has been liquidated and after passage of an appropriate resolution by the Board, the balance in this Fund may be transferred to the General Fund and expended for purposes of the General Fund. \r\nACCOUNT GROUP \r\nGENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for material capital lease obligations. \r\n \r\n- 7- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS \r\n \r\nJUNE 30 1994 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nBASIS OF ACCOUNTING \r\nThe accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure ofavailable 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 (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 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 measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. \r\n \r\n- 8- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXIIlBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE30 1994 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\nBUDGET \r\nTift County Board ofEducation has a legally authorized nonappropriated budget which is formally approved by the Board at the aggregate level. Budgets are prepared to provide a basis for funding operations and there is no legal prohibition regarding overexpenditure of the aggregate budget. The budget process begins when the Board's administration prepares a tentative aggregated budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper of general circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. \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\nCASH AND CASH EQUIVALENTS \r\nCOMPOSITION OF CASH 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 Joan associations. The placement of proceeds from bond issues in certificates of deposit is limited to financial institutions located within this State. \r\nINVESTMENTS \r\nCOMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds in the following: \r\n(I) Obligations issued by the State of Georgia or by other states, \r\n(2) Obligations issued by the United States government, \r\n(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, \r\n(4) Obligations of any corporation ofthe United States government, \r\n(5) Prime banker's acceptances, \r\n- 9- \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXIIlBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30 1994 \r\n \r\nNote 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \r\n \r\n(6) The Local Government Investment Pool administered by the Office of Treasury and Fiscal Services, \r\n \r\n(7) Repurchase agreements, and \r\n \r\n(8) Obligations of other political subdivisions of the State of Georgia. \r\n \r\nRECEIVABLES \r\n \r\nReceivables consist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. \r\n \r\nPROPERTY TAXES \r\n \r\nThe Tift 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 December 20, 1993. The lien date for property taxes was January 1, 1993. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1994 since their collection meets the criteria ofGASB codification section P70. }03. The Tift County Tax Commissioner bills and collects the property taxes for the Board ofEducation, withholds 2.5% oftaxes collected as a fee for tax collection, and remits the balance of taxes collected to the Board. \r\n \r\nThe tax millage rate levied for the 1993 tax year (calendar year) for the Tift County Board ofEducation was as follows (a mill equals $1 per thousand dollars of assessed value): \r\n \r\nSchool Operations \r\n \r\nll,.llmills \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 offund balance which indicates that these amounts do not constitute \"available spendable resources\" even though they are a component of net current assets. \r\n \r\n- 10 - \r\n \r\n TIFT 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\nPREPAID ITEMS \r\nPayments made to vendors for services that will benefit periods subsequent to June 30, 1994, are recorded as prepaid items. \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 AND INVESTMENTS \r\nCOLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral in an amount of not less than 110 percent of the public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. \r\nAcceptable security for deposits consists of any one of or any combination of the following: \r\n( 1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, \r\n(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, \r\n(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, \r\n- 11 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE30 1994 \r\n \r\nNote 2: DEPOSITS AND INVESTMENTS \r\n \r\n(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities ofthe State ofGeorgia, \r\n \r\n(5) Bonds of any public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, \r\n \r\n(6) Industrial revenue bonds and bonds of development authorities created by the laws 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, 1994, the bank balances were $7,679,156.83. 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, 1994, as follows: \r\nRisk Category I 2 3 \r\nTotal \r\nCATEGORIZATION OF INVESTMENTS Investments are classified as to risk by the three categories described below: \r\n \r\nBank Balance $ 200,200.00 \r\n7,478,956.83 0.00 \r\n$767915683 \r\n \r\nCategory I - Insured or registered, or securities held by the Board or the Board's agent in the Board's name. \r\n \r\n- 12 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXEilBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE30 1994 \r\n \r\nNote 2: DEPOSITS AND INVESTMENTS \r\n \r\nCategory 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the Board's name. \r\nCategory 3 - Uninsured or unregistered, with securities held by the counterparty, or by its trust department or agent but not in the Board's name. \r\n \r\nFunds invested in an investment pool managed by another government are not required to be categorized unless the investing entity owns specific, identifiable investment securities in the pool. \r\n \r\nAt June 30, 1994, the carrying amount of the Board's total investments was $2,938,582.00 and consisted entirely offunds in the Local Government Investment Pool administered by the Office of Treasury and Fiscal Services which are not required to be categorized since the Board did not own any specific identifiable securities in the pool. \r\n \r\nNote 3: NON-MONETARY TRANSACTIONS \r\n \r\nThe Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories \r\n \r\nNote 4: RISK MANAGEMENT \r\n \r\nThe Board has established a limited risk management program for Unemployment Compensation. Estimated claims are budgeted by management based on known claims and prior experience. Claims are paid from the same fund that had previously paid the salary and benefits for the unemployed individuals. During fiscal year 1994, a total of$1,697.35 was paid in claims. \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \r\n \r\nCAPITAL LEASES The Tift County Board ofEducation has entered into a lease agreement as lessee for equipment. This lease agreement qualifies as a capital lease for accounting purposes and, therefore, has been recorded at the present value ofthe future minimum lease payments as ofthe date ofits inception. \r\n \r\nThe changes in General Long-Term Debt during the fiscal year ended June 30, 1994, were as follows: \r\n \r\nBalance July 1, 1993 Additions Balance June 30, 1994 \r\n \r\nCapital Leases \r\n \r\n$ \r\n \r\n0.00 \r\n \r\n926 344.88 \r\n \r\n$ 226 31188 \r\n \r\n- 13 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO TifE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE30 1994 \r\n \r\nNote 5: GENERAL LONG-TERM DEBT \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\n1995 1996 1997 1998 \r\nTotal Principal and Interest \r\nDeduct: Imputed Interest \r\nNet Present Value ofFuture Minimum Lease Payments \r\nNote 6: SIGNIFICANT COMMITMENTS \r\n \r\nCapital Leases $ 255,181.70 255,181.70 255,181.70 255 181.70 $1,020,726.80 94 381.92 \r\n$ 926 344 88 \r\n \r\nAt June 30, 1994, the Board had encumbrances in the amount of$307,395.94 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with the Lottery Programs. The Georgia Department ofEducation has funding available to the Board in an amount equal to these encumbrances. The revenues and expenditures associated with these encumbrances will be recognized in the subsequent fiscal year. Encumbrances outstanding do not constitute expenditures or liabilities in the current year because these commitments will be honored during the subsequent year. These encumbrances are identified by Lottery Program as follows: \r\n \r\nComputers in Classrooms Distant Learning Media Center and Library Equipment Safe Schools Grant Georgia Public Telecommunications Commission Distant Learning \r\n \r\n$ 68,484.89 8,866.61 \r\n175,000.00 50,649.44 4 395.00 \r\nS 3073~ \r\n \r\nThe .following is an analysis of significant outstanding construction or renovation contracts executed by the Board as ofJune 30, 1994, together with funding available: \r\n \r\nProject \r\n \r\nUnearned Executed Contracts \r\n \r\nFunding Availabfe From State \r\n \r\nTift County High School 92/92S-737-08TJ \r\n \r\n$ 423,171.39$ \r\n \r\n0.00 \r\n \r\n514 350.00 5 630 614.00 \r\n \r\nS 937 52) 39 S 5 630 6)4 00 \r\n \r\nThe amounts described in this note are not reflected in the general purpose financial statements. \r\n \r\n- 14 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\nnJNE 30 1994 \r\n \r\nNote 7: CONTINGENT LIABILITIES \r\nAmounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. \r\nThe Board is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition ofthese proceedings is not presently determinable, but are not believed to be material to the general purpose financial statements. \r\nNote 8: RETIREMENT PLANS \r\nTEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) \r\nTRS PLAN DESCRIPTION SubstantiaJly aJ1 teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS). \r\nTRS provides service retirement, disability retirement and survivors benefits for its members. 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 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\nRetirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annuaJly 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 aJlowance, whichever is larger. The benefit is based on the member's creditable service (minimum of IO years of service) and compensation up to the time of disability or death. \r\nMembers become fully vested after ten years of service. If a member terminates with Jess than ten years of service, no vesting of employer 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 $17,421,008.32; total payroll was $19,333,892.30 \r\n \r\n- 15 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXHIBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE 30 1994 \r\n \r\nNote 8: RETIREMENT PLANS \r\n \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 ofreturn on investments) was 7.50%. \r\n \r\nTotal contributions made during fiscal year 1994 amounted to $3,074,797.10, of which $2,029,592.44 was made by the Board and $1,045,204.66 was made by employees. These contributions represented 11.81% (Board) and 6% (employees) of covered payroll. \r\n \r\nTRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers. \r\n \r\nTotal unfunded pension benefit obligation ofTRS as ofJune 30, 1993, was as follows: \r\n \r\nTotal pension benefit obligation \r\n \r\n$13,912,014,000.00 \r\n \r\nNet assets available for benefits, at cost Unfunded pension benefit obligation \r\n \r\n12 821 722 000.00 \r\n$ I 090 292 ooo oo \r\n \r\nThe measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1993. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers. \r\n \r\nTotal contributions from all employers to TRS for fiscal year ended June 30, 1994 were $521,550,000.00. The Board's contribution for the year ended June 30, 1994 of$2,029,592.44 was actuarially determined and represented .3891% of total contributions made by all participating employers. \r\n \r\nTen year historical trend information is presented in the 1994 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due. \r\n \r\n- 16 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION \r\n \r\nEXIIlBIT \"D\" \r\n \r\nNOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS \r\n \r\nJUNE30 1994 \r\n \r\nNote 8: RETIREMENT PLANS \r\nPUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS) \r\nPSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public. School Employees Retirement System of Georgia (PSERS). All employer's contributions are made by the State of Georgia. \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 of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number of years of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. \r\nRetirement provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent upon the number 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 ofwhat the employee would have received upon retirement. \r\nMembers become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contnbutions are refunded with interest. \r\nThere were 180 employees covered under PSERS for the year ended June 30, 1994. \r\nPSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1994 amounted to $5,992.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1994, was $9,150,000.00. \r\nNote 9: SURETY BONDS \r\nMr. Frank C. King, School Superintendent through June 30, 1994, was bonded in the amount of$100,000.00 with the Hartford Insurance Company, Hartford, Connecticut, their Bond No. RN 4625740. \r\nThe School Superintendent, Dr. Daniel Lee McIntyre, effective July 1, 1994, is bonded in the amount of $100,000.00 with the Hartford Insurance Company, Hartford, Connecticut, their Bond No. 4669932, on which premium is paid through July I, 1995. \r\n- 17 - \r\n \r\n TIFT COUNTY BOARD Of EDUCATION COMBINING BAI ANCE SHEET \r\nSPECIAL REVENUE EUNP JUNE30 1994 \r\n \r\n~ Cash and Cash Equivalents \r\nAccounts Receivable Inventories \r\nFood Donated Commodities Purchased Food \r\nTolal Assets \r\nLIABII mEs ANR FUND EQl,!ITY lJAlillJitE.S \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue \r\nTotal Liabilities \r\nEUNPEOUJTY \r\nFund Balances Reserved For Continuation of F-ral Programs For Inventories Food Donated Commodities Purchased Food \r\nUnreserved Undesignated \r\nTolal Fund Equity \r\nTotal Liabiltties and Fund Equity \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nSTAlE PRESCHOOL HANDICAPPED \r\nPROGRAM \r\n \r\nDRUG- FREE SCHOOLS AND COMMUNmES \r\nACT \r\n \r\n$ 1,087,346.68 $ 94,627.45$ \r\n \r\n0.00 \r\n \r\n27,317.38 \r\n \r\n54,688.69 \r\n \r\n$ \r\n \r\n14,554.00 \r\n \r\n24,358.82 12,981.66 \r\n \r\n$ 1,152.004.54 $ 149,316.14 $ \r\n \r\n0.00 $ \r\n \r\n14,554.00 \r\n \r\n35,008.09 $ 102,896.25 \r\n \r\n75,447.05 \r\n19,021.24 54,847.85 \r\n \r\n$ 137,904.34 $ 149,316.14 \r\n \r\n$ \r\n \r\n3,618.96 \r\n \r\n2,306.39 \r\n \r\n8,614.17 \r\n \r\n14.48 \r\n \r\n$ \r\n \r\n14,554.00 \r\n \r\n$ 24,358.82 12,981.66 \r\n$ 37,340.48 \r\ns?s,759.n s \r\n$ 1,014,100.20 $ \r\n \r\n0.00 $ 0.00 $ \r\n \r\n$ 1,152,004.54 $ 149,316.14 $ \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\n14,554.00 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-18- \r\n \r\n EXHIBIT\"E\" Page1 \r\n \r\nEDUCATION OF CHILDREN IN \r\nSTATE SCHOOLS \r\n \r\nELEMENTARY AND SECONDARY EDUCATION ACT \r\n \r\nCHAPTER 1 \r\n \r\nPEACHTREE \r\n \r\nEDUCATION OF \r\n \r\nMIGRANT \r\n \r\nCHAPTER2 \r\n \r\nDEPRIVED \r\n \r\nMIGRANT EDUCATION BLOCK GRANT. \r\n \r\nCHILDREN \r\n \r\nPROGRAM \r\n \r\nAGENCY FLOW THROUGH \r\n \r\nTITLEII EISENHOWER MATHEMATICS AND SCIENCE \r\nEDUCATION \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ \r\n \r\n86.52 \r\n \r\n$ \r\n \r\n2,166.00 $ \r\n \r\n199,879.93 $ 23,445.45 \r\n \r\n2,166.00$ \r\n \r\n199.879.93 $ 23,445.45 $ _ ___.o.;;;00~$----\"o;;;.oo~ s _ _ _.;:ss;;;::;;:s2~ \r\n \r\n$ \r\n \r\n762.56 $ \r\n \r\n10,850.02 $ \r\n \r\n6,842.85 \r\n \r\n228.60 \r\n \r\n42,904.38 \r\n \r\n2,938.66 \r\n \r\n1,174.84 \r\n \r\n146,026.84 \r\n \r\n9,514.72 \r\n \r\n98.69 \r\n \r\n4,151.20 \r\n \r\n$ \r\n \r\n2,166.00 $ \r\n \r\n199,879.93 $ 23,445.45 \r\n \r\n$ \r\n \r\n16.76 \r\n \r\n$ \r\n \r\n16.76 \r\n \r\n69.76 \r\n \r\n69.76 $ _ _ _ _~0-~00_$ _ _ _ _0_._00~$ _ _~0~.00~$ _ __:0,:.00:.S _ _ __:0,:.OO:. -----\"'0.::,:00,c. \r\n_ _ _ _ _o==00'-$ _ _ _ _0==00'-$ _ _~0~.00=$ _ _~0-~00=$ _ _ _~o~.00=$ _ _ _..=69ece.c76'- \r\n \r\n$ _ _ _ _2_.1_66_._oo_s \r\n \r\n199,879.93 $ 23,445.45 s _ _-\"'o.\"'oo\"'s _ _ ___.o;;;.oo;.s _ _ _..;as=.52=- \r\n \r\n-19 \r\n \r\n IIEI t:QL!t:IIY 6-Q!BQ QE EQU~aIIQ~ ~M~ININ~ ~!.AN~E Sl::1E~ \r\n~PE~l61 BE~NUE E!JHQ JUNE3Q 1994 \r\n \r\n~ Cash and Cash Equivalents Accounts Receivable \r\nInventories Food Donated Comrnodllies Purchased Food \r\nTola! Assets \r\nLIABILITIEl; [INQ FUNQ EQIJITY \r\nLl[IBILITIES \r\nCash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue \r\nTola! Liabilities \r\nEUNP EQUITY \r\nFund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food \r\nUnreserved Undesignated \r\nTotal Fund Equity \r\nTotal Liabillties and Fund Equity \r\n \r\nDEVELOPMENTAL DISABILITY \r\nBASIC SUPPORT AND ADVOCACY \r\nGRANT \r\n \r\nEDUCATION FOR HOMELESS CHILDREN AND YOUTH \r\n \r\nINDMDUALS WITH \r\n \r\nDISABILmEs EDUCATION ACT \r\n \r\nTITLEVI, B \r\n \r\nFLOW \r\n \r\nPRESCHOOL \r\n \r\nTHROUGH \r\n \r\nPROGRAM \r\n \r\n$ \r\n \r\n0.00 $ 21,252.56 \r\n \r\n$ \r\n \r\n6,181.33 \r\n \r\n31,712.79 $ \r\n \r\n41,273.55 \r\n \r\n$ \r\n \r\n6,181.33 $ \r\n \r\n0.00 $ 52,965.35 $ \r\n \r\n41,273.55 \r\n \r\n$ \r\n \r\n6,181.33 \r\n \r\n6181.33 \r\n \r\n$ $ 30,862.09 \r\n22,103.26 \r\n \r\n26,615.47 2,821.70 11,836.38 \r\n \r\n$ 52965.35 $ \r\n \r\n41273.55 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n$ \r\n \r\n6,181.33 $ \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\n0.00 \r\n \r\n0.00 $ 52,965.35$ \r\n \r\n41,273.55 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-20 \r\n \r\n EXHIBIT\"E\" Page2 \r\n \r\nTOTALS JUNE 30, 1994 JUNE 30, 1993 \r\n \r\n1,203,313.21 $ 945,326.22 \r\n \r\n401,219.12 \r\n \r\n323,338.49 \r\n \r\n24,358.82 12,981.66 \r\n \r\n43,840.25 10,242.66 \r\n \r\n$ 1,641,872.81 $ 1,322,747.82 \r\n \r\n$ \r\n \r\n54,871.19 \r\n \r\n192,531.74 $ \r\n \r\n88,558.47 \r\n \r\n302,166.46 \r\n \r\n264,818.40 \r\n \r\n23,285.61 \r\n \r\n5,210.69 \r\n \r\n54,847.85 \r\n \r\n$ \r\n \r\n627,702.85 $ \r\n \r\n338,585.56 \r\n \r\n$ \r\n \r\n69.76 $ \r\n \r\n4,831.83 \r\n \r\n24,358.82 12,981.66 \r\n \r\n$ \r\n \r\n37,410.24$ \r\n \r\n976,759.72 \r\n \r\n$ 1,014,169.96 $ \r\n \r\n43,840.25 10,242.66 \r\n58,914.74 \r\n925,247.32 \r\n984,162.06 \r\n \r\n1,641,872.81 $ 1,322,747.82 \r\n \r\n-21- \r\n \r\n TlfI COUNTY BOARD OF EQUCATION COMB1NING STATEMENT OF REVENUES fXPENPITUBFS ANP CHANGES IN FIJNP BAI ANCFS \r\nSPECIAi RE\\/ENUF B JNP \r\nVEAR FNDEP JUNE 30 1994 \r\n \r\n~ \r\nState Funds Federal Funds Local and Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services other Support Services Food Services Operation \r\nTotal Elcpenditures \r\nExcess of Revenues over (under) Expenditures \r\nQit:IFB Fl~QINg SOURCES \r\nOperating Transfers In \r\nExcess of Revenues and Other Financing Sources over (under) Elcpenditures \r\nFUND BALANCE JULY 1 \r\nFood Inventory Donated Commodities July 1  June 30 Purchased Food July1 June 30 \r\nFUND BAI ANCF JUNE 30 \r\n \r\nSCHOOL FOOD \r\nSERVICES FUND \r\n \r\nLOTTERY PROGRAMS \r\n \r\nSTATE PRESCHOOL HANDICAPPED \r\nPROGRAM \r\n \r\nDRUG-FREE SCHOOLS AND COMMUNmES \r\nACT \r\n \r\n156,880.00 $ 295,410.76 $ 1,464,581.14 \r\n479.718.80 \r\n2,101,179.94 $ 295.410.76 $ \r\n \r\n86,789.00 $ \r\n86,789.00 $ \r\n \r\n76,071.52 76,071.52 \r\n \r\n231,685.15 $ \r\n23,804.78 364.73 \r\n1,384.69 \r\n \r\n37,637.56 523.73 \r\n \r\n2.049.667 .54 \r\n \r\n38.09 \r\n \r\n2.049,667.54 $ 295,438.73 $ \r\n \r\n51,512.40 $ \r\n \r\n-27.97 $ \r\n \r\n86,789.00 \r\n86789.00 $ 0.00 $ \r\n \r\n78,678.74 148.65 \r\n78,827.39 -2,755.87 \r\n \r\n51,512.40 $ 979,330.23 \r\n \r\n27JJ7 \r\n0.00 $ 0.00 \r\n \r\n0.00 $ 0.00 \r\n \r\n2 755.87 \r\n0.00 0.00 \r\n \r\n-43,840.25 24,358.82 \r\n-10.242.66 12,981.66 \r\n \r\n$ 1,014,100.20 $ \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-22- \r\n \r\n EXHIBIT\"P Page1 \r\n \r\nEDUCATION OF CHILDREN IN STATE SCHOOLS \r\n \r\nELEMENTARY AND SECONDARY EDUCATION ACT \r\n \r\nCHAPTER 1 \r\n \r\nPEACHTREE \r\n \r\nEDUCATION OF \r\n \r\nMIGRANT \r\n \r\nCHAPTER2 \r\n \r\nDEPRIVED \r\n \r\nMIGRANT EDUCATION BLOCK GRANT - \r\n \r\nCHILDREN \r\n \r\nPROGRAM \r\n \r\nAGENCY \r\n \r\nFLOW THROUGH \r\n \r\nTITLE 11EISENHOWER MATHEMATICS AND SCIENCE EDUCATION \r\n \r\n13,671.00 $ 1,391,528.95 $ 103,567.13 $ 114,174.65 $ 13,671.00 $ 1,391,528.95 $ 103,567.13 $ 114,174.65 $ \r\n \r\n61,701.00 $ \r\n \r\n29,347.00 \r\n \r\n61,701.00 $ \r\n \r\n29,347.00 \r\n \r\n13,506.00 $ 165.00 \r\n \r\n1,173,309.82 $ 102,232.63 $ \r\n \r\n513.11 723.99 2,704.76 101,218.24 4,997.95 1,203.58 8,345.60 2,223.26 100,934.65 \r\n \r\n1,334.50 \r\n \r\n41,131.29 $ 13,529.02 \r\n12,201.71 6,261.88 \r\n41,236.57 \r\n \r\n13,671.00 $ 1,396,174.96 $ 103,567.13 $ 114,360.47 $ \r\n \r\n0.00 $ \r\n \r\n-4,646.01 $ \r\n \r\n0.00 $ \r\n \r\n-185.82 $ \r\n \r\n61,556.65 144.35 \r\n \r\n29.204.13 73.11 \r\n \r\n61,701.00 $ 0.00 $ \r\n \r\n29,2TT.24 69.76 \r\n \r\n0.00 $ 0.00 \r\n \r\n-4,646.01 $ 4,646.01 \r\n \r\n0.00 $ 0.00 \r\n \r\n-185.82 $ 185.82 \r\n \r\n0.00 $ 0.00 \r\n \r\n69.76 0.00 \r\n \r\n_ _ _ _...;o;.;;.oo\"\"' s_____o...o. o=s ______o..o..o. $ ____0_.o_.o.. s______o_.0_0_ $ _ _ _69.......,.7.s.. \r\n \r\n-23- \r\n \r\n TIEI CQUNJY RQABP Of EQUCATJON COMB1NING STAJEMFNT OF REVENUES EXPENDITURES ANP CHANGf;S IN RJNP BAl ANCES \r\nSPECIAL REVENUE FUNP YEAR ENDED JUNE 3Q 1994 \r\n \r\n~ \r\nState Funds Federal Funds Local and Other Funds \r\nTotal Revenues \r\nEXPENDITURES \r\nCurrent Instruction Support SONices Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation \r\nTotal Expenditures \r\nExcess of Revenues over (under) Expendib.sres \r\nOTHER FINANCING SOURCES \r\nOperating Transfers ln \r\nExcess of Revenues and Other Financing Sources over (under) Expendib.sres \r\nFUND BAI ANCE JULY 1 \r\nFood Inventory Donated Commodities July 1 June 30 Purchased Food July 1 June30 \r\nFUND BAI AN~E JLJNf 30 \r\n \r\nDEVELOPMENTAL DISABILITY \r\nBASIC SUPPORT ANDNJVOCACY \r\nGRANT \r\n \r\nEDUCATION FOR HOMELESS CHILDREN ANDYOUTH \r\n \r\nINDIVIDUALS WITH \r\n \r\nDISABILITIES EDUCATION N:.T \r\n \r\nmLEVl,B \r\n \r\nFLOW \r\n \r\nPRESCHOOL \r\n \r\nTHROUGH \r\n \r\nPROGRAM \r\n \r\n6,181.33 $ \r\n \r\n970.00 S 313,362.79 $ \r\n \r\n1os,n3.55 \r\n \r\n----'6::,,,1.:.:Bc:.1.33=$--9-7~0=.00 S 313,362.79 $ \r\n \r\n106,n3.55 \r\n \r\n7,586.84 \r\n \r\n970.00 S 200,715.37 S 38,389.46 62,184.73 12,190.55 \r\n \r\n62,662.46 35.275.96 \r\n1,297.35 7,540.82 \r\n \r\n----'7'-\",586==c84c,$ _ _ _~97=0.0-0 S \r\n \r\n-1,405.51 S \r\n \r\n0.00 $ \r\n \r\n313,480.11 $ -117.32 $ \r\n \r\n106,776.59 -3.04 \r\n \r\n1,405S1 \r\n0.00 $ 0.00 \r\n \r\n117.32 \r\n \r\n3.04 \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\n0.00 \r\n \r\n_ _ _ _ _o_.0_0..,$ _ _ _ _ _0_.o.o.. s _ _ _ _o_.00_$ _ _ _ _0_.oo., \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n EXHIBIT\"P Page2 \r\n \r\nTOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993 \r\n \r\n539,079.76 $ 3,681,930.06 \r\n479,718.80 \r\n4,700,728.62 $ \r\n \r\n241,111.47 4,244,659.82 \r\n502,898.82 \r\n4,988,670.11 \r\n \r\n1,974,558.37 $ 2,154,751.62 \r\n \r\n197,TT7.91 30,292.85 4,089.45 178,767.64 4,997.95 52,643.64 21,059.88 2,22326 142,209.31 2,049,667.54 \r\n \r\n246,644.46 39,196.72 3,747.69 210,440.78 3,773.61 26,481.31 25,960.53 50,221.98 170,390.82 1,923,853.72 \r\n \r\n4,658,288.00 $ 4,855,463.24 \r\n \r\n42,440.62 $ 133,206.87 \r\n \r\n4,309.71 \r\n \r\n46,750.33 $ 984,162.06 \r\n \r\n133,206.87 862,688.44 \r\n \r\n-43,84025 24,358.82 \r\n-10,242.66 12981.66 \r\n \r\n-57,137.97 43,84025 \r\n-ll,678.19 10,242.66 \r\n \r\n1,014,169.96 $ 984,162.06 \r\n \r\n-25- \r\n \r\n TIFT COUNTY BOABD OF EDUCATION COMBINING BALANC!; SHEET CAPITAL PROJECTS FUND JUNE 30 1994 \r\n \r\nASSETS Cash and Cash Equivalenls lnvestmenls \r\n \r\nREGULAR \r\n \r\nGEORGIA STATE FINANCING \r\n \r\nPROJECT \r\n \r\nPROJECT \r\n \r\n92/92S-737-080 \r\n \r\n93/94-737-065 \r\n \r\ns $ 1,522,912.37 \r\n \r\nSTT,679.80 $ \r\n \r\n411,188.00 \r\n \r\n1,402,103.50 \r\n \r\nTotal Assets \r\n \r\n$ 2,925 015.87 S \r\n \r\nSTT,679.80 $ \r\n \r\n411188.00 \r\n \r\nLIABILITIES AND FUND !;QUITY LIABILITIES \r\nContracts Payable Retainages Payable \r\nTotal Liabilities FUND EQUITY \r\nFund Balances Reserved For State Capital Outlay Projects Unreserved Undesignated \r\nTotal Fund Equity \r\nTotal Liabilities and Fund Equity \r\n \r\n$ \r\n \r\n31,140.90 \r\n \r\n3,667.71 \r\n \r\n$ \r\n \r\n34,808.61 \r\n \r\n$ $ 2 890,207.26 $ 2 890,207.26 $ \r\n \r\nsn,679.80 $ 0.00 \r\nSTT,679.80 $ \r\n \r\n411,188.00 0.00 \r\n411188.00 \r\n \r\n$ 2,925,015.87 S \r\n \r\nSTT,679.80 $ \r\n \r\n411188.00 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-26- \r\n \r\n EXHIBIT\"G\" \r\n \r\nAND INVESTMENT COMMISSION \r\n \r\nPROJECT \r\n \r\nPROJECT \r\n \r\n94/948-737-055 \r\n \r\n94/94S-737-056 \r\n \r\nTOTALS JUNE 30 1994 JUNE 30 1993 \r\n \r\n$ \r\n \r\n103,628.00 $ \r\n \r\n45,935.00 $ 2,761,343.17 $ 1,072,279.40 \r\n \r\n1,402,103.50 \r\n \r\n1588966.69 \r\n \r\n$ \r\n \r\n103,628.00 $ \r\n \r\n45 935.00 $ 4,163,446.67 $ 2,661,246.09 \r\n \r\n$ \r\n \r\n31,140.90 \r\n \r\n3 667.71 $ _ _..::12::,.9::.;1c::8:..::.0~0 \r\n \r\n$ \r\n \r\n34 808.61 $ _ _..::12::,.9::.;1c::8:..::.0~0 \r\n \r\n103,628.00 $ \r\n \r\n0.00 \r\n \r\n$ \r\n \r\n103628.00 $ \r\n \r\n45,935.00 $ 1,238,430.80 $ 1,088,867.80 \r\n \r\n0.00 \r\n \r\n2 890207.26 \r\n \r\n1 559460.29 \r\n \r\n45 935.00 $ 4 128 638.06 $ 2 648 328.09 \r\n \r\n$ \r\n \r\n103,628.00 $ \r\n \r\n45,935.00 $ 4,163,446.67 $ 2,661,246.09 \r\n \r\n-27- \r\n \r\n TIFT 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\nREVENUES Local and Other Funds \r\nEXPENDITURES Capital Outlay Professional and Technical Services Building and Building Improvements Total Expenditures \r\nExcess of Revenues over (under} Expenditures OTHER FINANCING SOURCES /USES\\ \r\nOperating Transfers In Operating Transfers Out \r\nTotal Other Financing Sources (Uses} Excess of Revenues and Other Financing Sources \r\nover (under} Expenditures and Other Financing Uses FUND BALANCE JULY 1 \r\nFUND BALANCE JUNE 30 \r\n \r\nREGULAR \r\n \r\nGEORGIA STATE FINANCING \r\n \r\nPROJECT \r\n \r\nPROJECT \r\n \r\n92/92S-737-080 \r\n \r\n93/94-737-065 \r\n \r\n104 581.08 $ \r\n \r\no.oo $ ______0_._00_ \r\n \r\n$ \r\n \r\n23,217.81 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n201 053.30 \r\n \r\n$ 224 271.11 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n$ -119690.03 $ \r\n \r\n0.00 $ \r\n \r\n0.00 \r\n \r\n$ 1,450,437.00 $ 1 450437.00 $ 1,330,746.97 $ \r\n1 559460.29 \r\n \r\n0.00 $ 677 679.80 \r\n \r\n0.00 411188.00 \r\n \r\n$ 2,890,207.26 $ \r\n \r\n677,679.80 $ \r\n \r\n411188.00 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n-28- \r\n \r\n EXHIBIT\"H\" \r\n \r\nAND INVESTMENT COMMISSION \r\n \r\nPROJECT \r\n \r\nPROJECT \r\n \r\n94/94S-737-055 \r\n \r\n94/94S-737-056 \r\n \r\nTOTALS YEAR ENDED JUNE 30 1994 JUNE 30, 1993 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ 104 581.08 $ _ _.:_70=50::,2,::.04= \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 _$ \r\n \r\n23,217.81 \r\n \r\n201 053.30 $ 262 984.21 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ 224 271.11 $ 262 984.21 \r\n \r\n$ \r\n \r\n0.00 $ \r\n \r\n0.00 $ -119 690.03 $ -192 482.17 \r\n \r\n$ \r\n \r\n103,628.00 $ \r\n \r\n$ \r\n \r\n103628.00 $ \r\n \r\n$ \r\n \r\n103,628.00 $ \r\n \r\n0.00 \r\n \r\n45,935.00 $ 1,600,000.00 $ 1,561,188.00 -411188.00 \r\n45 935.00 $ 1,600,000.00 $ 1150 000.00 \r\n \r\n45,935.00 $ 1,480,309.97 $ 957,517.83 \r\n \r\n0.00 \r\n \r\n2 648,328.09 \r\n \r\n1690 810.26 \r\n \r\n$ \r\n \r\n1031628.00 $ \r\n \r\n45,935.00 $ 4,128,638.06 $ 2,648,328.09 \r\n \r\n-29- \r\n \r\n IIFTQOUNTY~BQQE EQ:\\1.Q~ SCHEPLJLE OF FEPfRAL BNANCIAJ \u0026i~l~TANCE \r\nYEAR ENDED JUNE 30 1994 \r\n \r\nSCHEDUl.E \"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 1993 Grant 1994 Grant National School Lunch Program 1993Grant 1994Grant Food Distribution Program (1) \r\nTotal U.S. Department of Agriculture \r\nEducation, U. S. Department of Through Berrian County Board of Education d/b/a Southern Pines Migrant Education Agency Elementary and Secondary Education Act Chapter 1 Migratory Education Program 1994Regular 1994Summer Through Georgia Department of Education Drug-Free Schools and Communities Act 1993Grant 1993 Cany-Over 1994Grant Elementary and Secondary Education Act Chapter 1 Education of Children in State Schools 1993Regular 1993 Carry-Over 1994 Regular Education of Deprived Children 1992 Carry-Over 1993Regular 1993Summer 1993 Carry-Over 1994Ragular 1994Summer Migrant Education 1993Ragular Chapter2 Block Grant. Flow Through 1994Regular Tdlell Eisenhower Mathematics and Science Education 1994Regular lncflViduals with OisabilHies Education Act TH:leVI, B Flow Through 1993Regular 1993 Carry-Over 1994Regular Innovative Special Education Proposal 1993 Carry-Over Preschool Program 1993 Regular 1993 Carry-Over 1994Ragular Stewart B. McKinay Homeless Assistance Act Education for Homeless Chiklren and Youth 1992 Carry-Over 1992 Carry-Over (New) \r\n \r\nCFDA NUMBER \r\n \r\nAWARDS IN PERIOD \r\n \r\nFEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n10.553 10.553 \r\n10.555 10.555 10.550 \r\n \r\n304,439.10 \r\n1,008,587.67 151554.37 \r\n1484581.14 $ \r\n \r\n27,827.60 \r\n \r\n300,260.91 $ 304,439.10 \r\n \r\n(2) \r\n \r\n15,757.11 990,676.48 NIA \r\n \r\n1,008,587.67 $ 1,898,113.17 (3) \r\n \r\n151554.37 \r\n \r\n151554.37 \r\n \r\n1334522.10 $ 1484581.14 $ 2049667.54 \r\n \r\n84.011 84.011 \r\n84.186 84.186 84.186 \r\n \r\n84,272.88 $ 44,781.02 \r\n532.00 75,554.00 \r\n \r\n84,272.88 $ \r\n \r\n80,121.68 $ 23,445.45 \r\n \r\n9,762.27 532.00 \r\n61,000.00 \r\n \r\n517.52 75,554.00 \r\n \r\n80,121.68 23,445.45 \r\n517.52 78,309.87 (3) \r\n \r\n84.009 84.009 84.009 \r\n 84.010  84.010  84.010 ' 84.010 ' 84.010  84.010 \r\n84.011 \r\n \r\n3,405.00 10,266.00 \r\n232,266.00 1,179,973.00 \r\n55,735.00 \r\n \r\n84.151 \r\n \r\n61,701.00 \r\n \r\n1,748.17 3,405.00 8,100.00 \r\n22,003.00 229,444.63 64,747.71 134,000.00 993,000.00 \r\n119,674.65 \r\n \r\n3,405.00 10,266.00 \r\n64,747.71 232,266.00 1,071,276.40 \r\n23,238.84 \r\n114,174.65 \r\n \r\n3,405.00 10,266.00 \r\n69,393.72 232,266.00 1,071,276.40 \r\n23,238.84 \r\n114,360.47 \r\n \r\n61,701.00 \r\n \r\n61,701.00 \r\n \r\n61,701.00 \r\n \r\n84.164 \r\n \r\n32,421.00 \r\n \r\n29,347.00 \r\n \r\n29,347.00 \r\n \r\n29,2TT.24 \r\n \r\n 84.027  84.027  84.027 \r\n 84.027 \r\n84.173 84.173 84.173 \r\n84.196 84.196 \r\n \r\n98,743.00 271,558.00 \r\n9,750.00 \r\n31,568.00 79,530.00 \r\n970.00 \r\n \r\n5,016.81 72,000.00 200,000.00 \r\n9,650.00 \r\n-2,900.23 18,500.00 47,000.00 \r\n \r\n83,876.82 219,835.97 \r\n9,650.00 \r\n31,568.00 75,205.55 \r\n \r\n429.35 970.00 \r\n \r\n970.00 \r\n \r\n83,876.82 219,953.29 (3) \r\n9,650.00 \r\n31,568.00 75,208.59 (3) \r\n970.00 \r\n \r\n. 30. \r\n \r\n TIFT COUNTY BOARD Of EDUCATION SCHEDULE Of EEPERAL F1NANCIAI ASSISTANCE \r\nYEAR ENPfP JUNE 30 1SKW \r\n \r\nSCHEDULE \"1\" \r\n \r\nFUNDING AGENCY PROGRAM/GRANT \r\nEducation, U.S. Department of Through Georgia Departmern of Education Vocational Education - Basic Grants to States High School Pragram Basic Grant 1993Grant 1994Grant Consumer and Homemaking Education 1894 Contract Supplementary State Grants for Facilities 1893 Conbacl Tech-Prep Education 1993Grant 1994Grant \r\nTotal U.S. Department of Education \r\nHealth and Human Services, U. S. Department of Through Georgia Department ol Human Resources Developmental Disability Basic Support and Inclusion Grant 1994 Grant \r\nOTHER FEDERAL ASSISTANCE \r\nDefense, U.S. Oeparbnenl of Direct Department ol the Air Force R.O.T.C. Pragram 1993Grant 1994 Grant \r\n \r\nCFDA \r\n~ \r\n \r\nAWAADS IN PERIOD \r\n \r\nFEDERAL FUNDS RECEIVED IN PERICO (NET OF REFUNDS) \r\n \r\nFEDERAL REVENUE IN PERIOD \r\n \r\nEXPENDITURES IN PERIOD \r\n \r\n84.048 84.048 \r\n84.049 \r\n84253 \r\n84.243 84243 \r\n \r\n$ 27,217.94 14,814.74 \r\n32 841.26 2 347 999.84 $ \r\n \r\n1,273.30 18,182.51 $ \r\n \r\n27,217.94 \r\n \r\n1  ,123.64 \r\n \r\n14,814.74 \r\n \r\n1,114.81 \r\n \r\n15,804.n 20451.68 \r\n \r\n32841.26 \r\n \r\n2J44 455.05 $ 2 286141.53 $ \r\n \r\n(4) (4) \r\n(4) 2218805.88 \r\n \r\n93.630 $ \r\n \r\n8636.00 \r\n \r\n6181.33 $ \r\n \r\n7586.84 (3) \r\n \r\n31183.48 \r\n \r\n6,048.88 \r\n \r\n24647.19 $ 31183.49 \r\n \r\n(4) \r\n \r\n31183.48 $ \r\n \r\n30896.07 $ 31183.49 \r\n \r\nTotal Federal Financial Assistance \r\n \r\n$ 3 852 400.46 $ 3 609 673.22 $ 3 788 087.49 $ 4276 060.27 \r\n \r\nMajor Programs are identified by an asterisk r\u003e in front of the CFDA number. \r\n(1) The amounts shown lot lhe Food Distribution Program rep,esents lhe Fedarally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the cummt fiscal year. \r\n(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1994 National School Lunch Pragram. \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 31  \r\n \r\n TIFT COUNTY BOARD OF EDUCATION ANALYSIS OF CASH AND CASH EQUIVALENTS \r\nJUNE 30 1994 \r\n \r\nSCHEDULE \"2\" \r\n \r\nNONINTEREST BEARING ACCOUNTS \r\nSouth Georgia Banking Company, Tifton, Georgia \r\nINTEREST BEARING ACCOUNTS \r\nCitizens Bank of Tifton, Tifton, Georgia \r\nN.O.W. Account (2.50%) \r\nFirst Community Bank, Tifton, Georgia \r\nN.O.W. Account (3.55%) \r\n \r\n$ \r\n \r\n200.00 \r\n \r\n$ 1,090,128.43 4,414,492.50 5,504,620.93 \r\n \r\n$ 5,504,820.93 \r\n \r\nSee notes to the general purpose financial statements. - 32 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION INVESTMENTS JUNE 30 1994 \r\nINVESTMENT POOL Office of Treasury and Fiscal Services Local Government Investment Pool (4.237%) \r\n \r\nSCHEDULE \"3\" $ 2,938,582.00 \r\n \r\nSee notes to the general purpose financial statements. - 33 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30 1994 \r\n \r\nSCHEDULE 4 \r\n \r\nBerrien County Board of Education d/b/a Southern Pines Migrato,y Education Agency Migrato,y Education Program \r\nCoas1al Plain Area Economic Opportunity Authority, Incorporated Sales of Lunches \r\nDefense, Department of Department of the Air Force R.O.T.C. Program \r\nEducation, Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education State Funds Federal Funds Lottery Programs Computers in Classrooms Distant Leaming Federal Programs Drug-Free Schools and Communities Act ESEA - Chapter 1 Education of Children in S - Schools Education of Deprived Children Individuals with Disabilities Education Act TrtleVl,B Flow Through Preschool Program \r\nHuman Resources, Georgia Department of Developmental Disability Basic Support and Advocacy Grant \r\nTri! County Tax Commissioner County Wode Bond Tax County Wide School Tax \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nDEBT \r\n \r\nGENERAL \r\n \r\nREVENUE \r\n \r\nSERVICE \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 23,445.45 \r\n \r\n$ 23,445.45 \r\n \r\n5,228.00 \r\n \r\n5,228.00 \r\n \r\n$ 6,536.30 \r\n \r\n6,536.30 \r\n \r\n54,913.39 22,216.11 \r\n \r\n4,178.19 17,911.19 \r\n53,304.00 1,384.69 14,554.00 2,166.00 \r\n199,879.93 \r\n \r\n31,712.79 41,273.55 \r\n \r\n4,178.19 17,911.19 \r\n54,913.39 22,216.11 \r\n53,304.00 1,384.69 \r\n14,554.00 \r\n2,166.00 199,879.93 \r\n31,712.79 41,273.55 \r\n \r\n6,181.33 \r\n$ 50,713.80 \r\n \r\n6,181.33 \r\n \r\n3.30 \r\n \r\n3.30 \r\n \r\n50,713.80 \r\n \r\n$ 134,379.60 $ 401,219.12 $ _ _ _3._30_ $ 535,602.02 \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 34 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30 1994 \r\n \r\nSCHEDULE \"5\" \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 Special Instructional Assistance In-School Suspension Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Governor's Emergency Funds (1) Innovative Programs Mentor Teacher Program Preschool Handicapped Program Special Education Low Incidence Grant Supervision and Assessment of Student and Beginning Teachers and PerformanceBased Certification Teachers' Retirement Lottery Programs Algebra Classrooms Computers in Classrooms Distant Leaming Pre-Kindergarten Program Safe Schools Grant \r\nGeorgia Public Telecommunication Commission Lottery Program Distant Leaming \r\nOTHER Education, Georgia Department of Student Information Systems 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$ 12,445,840.00 2,145,525.00 469,182.00 546,122.00 181,520.00 3,788,981.00 \r\n \r\n$ 12,445,840.00 2, 145,525.00 469,182.00 546,122.00 181,520.00 3,788,981.00 \r\n \r\n527,287.00 179,904.00 534,606.00 131,209.00 -2,474,944.00 1,632,774.00 \r\n$ 469,730.56 \r\n \r\n156,880.00 \r\n \r\n527,287.00 179,904.00 534,606.00 131,209.00 -2,474,944.00 1,632,774.00 156,880.00 469,730.56 \r\n \r\n2,000.00 4,800.00 4,080.00 \r\n17,870.00 \r\n \r\n86,789.00 \r\n \r\n2,000.00 4,800.00 4,080.00 86,789.00 17,870.00 \r\n \r\n2,150.00 27,830.21 \r\n \r\n2,316.00 108,000.00 \r\n1,384.69 145,535.92 \r\n37,637.56 \r\n \r\n2,150.00 27,830.21 \r\n2,316.00 108,000.00 \r\n1,384.69 145,535.92 \r\n37,637.56 \r\n \r\n536.59 \r\n \r\n536.59 \r\n \r\n3500.00 \r\n \r\n3 500.00 \r\n \r\n$ 20,639,966.77 $ 539,079.76 $ 21,179,046.53 \r\n \r\n(1) 1994 Georgia School of Excellence \r\n \r\nSee notes to the general purpose financial statements. \r\n \r\n- 35 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE \r\nYEAR ENDED JUNE 30 1994 \r\n \r\nSCHEDULE\"6\" \r\n \r\nTaxes County Wide Bond Tax County Wide School Tax Railroad Car Tax Real Es1ate Transfer Tax \r\nother \r\nClass Action Sult Sogreen Court Order \r\nCompensation for Loss of Assets For Head Start Program \r\nCoastal Plain Area Economic Opportunity Authority, Incorporated \r\nFor Salaries Georgia Young Farmers Association Lowndes County Board of Health Tift County Band Booster Association Tift County High School \r\nFor Technical Preparation Program Moultrie Technical I,,,._ Local Match \r\nIndirect Cost Special Revenue Fund \r\nInterest Eamed Rents Sales \r\nMeals other Shared Service Contributions Tifton..Tift County Public Library TLition other \r\n \r\nGENERAL FUND \r\n \r\nGOVERNMENTAL FUND TYPES \r\n \r\nSPECIAL \r\n \r\nCAPITAL \r\n \r\nREVENUE PROJECTS \r\n \r\nFUND \r\n \r\nFUND \r\n \r\nDEBT SERVICE \r\nFUND \r\n \r\nTOTAL \r\n \r\n$ 5,613,322.27 136.16 \r\n14,325.04 \r\n \r\n$ \r\n \r\n81.28 $ \r\n \r\n81.28 \r\n \r\n5,613,322.27 \r\n \r\n136.16 \r\n \r\n14,325.04 \r\n \r\n102,962.05 20,585.17 \r\n \r\n5,228.00 \r\n7,307.05 40,992.00 \r\n470.00 7,200.00 \r\n \r\n6,709.88 \r\n \r\n43,468.23 135,269.23 $ \r\n6,376.32 \r\n \r\n30,558.22 $ 104,581.08 \r\n \r\n431,219.10 17,771.75 \r\n \r\n850.00 56,295.00 \r\n8,527.33 \r\n \r\n169.73 \r\n \r\n102,962.05 20,585.17 \r\n \r\n5,228.00 \r\n7,307.05 40,992.00 \r\n470.00 7,200.00 \r\n \r\n790.54 \r\n \r\n6,709.88 \r\n43,468.23 271,199.07 \r\n6,376.32 \r\n431,219.10 17,771.75 \r\n850.00 56,295.00 8,697.06 \r\n \r\n$ 6,070,023.73 $ 479,718.80 $ 104,581.08 $ \r\n \r\n871.82 $ 6,655,195.43 \r\n \r\nSee notes to the general purpose financial s1aternents. \r\n \r\n- 36 - \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT \r\nGOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30 1994 \r\n \r\nSCHEDULE '7\" \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 Land and Land Improvements 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$ 17,166,194.34 $ 2,167,697.96 $ 19,333,892.30 \r\n \r\n4,690,914.64 \r\n \r\n599,575.92 \r\n \r\n5,290,490.56 \r\n \r\n101,407.26 \r\n \r\n29,277.48 \r\n \r\n130,684.74 \r\n \r\n109,587.99 \r\n \r\n80,211.86 \r\n \r\n189,799.85 \r\n \r\n14,910.65 \r\n \r\n14,910.65 \r\n \r\n59,213.12 \r\n \r\n51.65 \r\n \r\n59,264.77 \r\n \r\n189,466.08 \r\n \r\n48,948.88 \r\n \r\n238,414.96 \r\n \r\n16,093.40 \r\n \r\n8,167.73 \r\n \r\n24,261.13 \r\n \r\n46,020.97 \r\n \r\n46,020.97 \r\n \r\n58,269.00 \r\n \r\n7,040.45 \r\n \r\n65,309.45 \r\n \r\n11,821.20 \r\n \r\n11,821.20 \r\n \r\n22,600.34 \r\n \r\n465.00 \r\n \r\n23,065.34 \r\n \r\n14,699.96 \r\n \r\n40,528.20 \r\n \r\n55,228.16 \r\n \r\n850,975.64 \r\n \r\n237,984.70 \r\n \r\n1,088,960.34 \r\n \r\n618,111.39 \r\n \r\n12,609.22 \r\n \r\n630,720.61 \r\n \r\n972,165.03 \r\n \r\n972,165.03 \r\n \r\n236,122.54 \r\n \r\n2,132.07 \r\n \r\n238,254.61 \r\n \r\n27,491.00 \r\n \r\n4,332.64 \r\n \r\n31,823.64 \r\n \r\n43,468.23 \r\n \r\n43,468.23 \r\n \r\n28,329.66 \r\n \r\n3,975.88 \r\n \r\n32,305.54 \r\n \r\n39,369.90 12,831.00 1,325,272.87 \r\n \r\n387,833.90 \r\n \r\n39,369.90 12,831.00 1,713,106.77 \r\n \r\n$ 25,627,881.75 $ 4,658,288.00 $ 30,286,169.75 \r\n \r\nSee notes to the general purpose financial statements. - 37 - \r\n \r\n TIFT 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 Professional and Technical Services Supplies Dues and Fees Other Expenditures \r\nNonoperating Costs Equipment \r\nTotal Expenditures \r\n \r\nALGEBRA CLASSROOMS \r\n \r\nCOMPUTERS IN \r\nCLASSROOMS \r\n \r\nDISTANT LEARNING \r\n \r\n$ \r\n \r\n2,343.97 \r\n \r\n$ \r\n \r\n1,384.69 \r\n \r\n$ \r\n \r\n108,000.00 \r\n \r\n$ \r\n \r\n2 343.97 $ \r\n \r\n108,000.00 $ \r\n \r\n1 384.69 \r\n \r\nSee notes to the general purpose financial statements. - 38 - \r\n \r\n SCHEDULE \"8\" \r\n \r\nPRE-KINDERGARTEN PROGRAM \r\n \r\nSAFE SCHOOLS \r\nGRANT \r\n \r\nG.P.T.C. DISTANT LEARNING \r\n \r\nTOTAL \r\n \r\n$ \r\n \r\n61,936.23 \r\n \r\n18,136.66 \r\n \r\n2,258.61 \r\n \r\n297.63 \r\n \r\n22,596.40 \r\n \r\n495.30 \r\n \r\n38.09 \r\n \r\n$ \r\n \r\n61,936.23 \r\n \r\n18,136.66 \r\n \r\n2,258.61 \r\n \r\n297.63 \r\n \r\n$ \r\n \r\n536.59 \r\n \r\n26,861.65 \r\n \r\n495.30 \r\n \r\n38.09 \r\n \r\n39,777.00 $ \r\n \r\n37,637.56 \r\n \r\n185,414.56 \r\n \r\n$ \r\n \r\n145 535.92 $ \r\n \r\n37,637.56 $ \r\n \r\n536.59 $ 295,438.73 \r\n \r\n- 39 - \r\n \r\n  TIFT 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 \"9\" \r\n \r\nMinimum Expenditure Requirements (Total Allotment) \r\nExpenditures on Combined Program Basis Salaries Operations \r\nLess: Expenditures for Media Center Programs in Excess of Total Media Allotment Expenditures for Staff Development Programs in Excess of Total Staff Development Allotment for: Cost of Instruction Professional Development \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$ 15,606,669.00 $ \r\n \r\n181,520.00 \r\n \r\n$ 15,621,542.66 801,561.06 $ \r\n$ 16,423,103.72 $ \r\n \r\n188,525.67 188,525.67 \r\n \r\n-153,994.21 \r\n \r\n$ 16,269,109.51 $ \r\n \r\n-1,305.70 -5,699.97 \r\n181,520.00 \r\n \r\n$ \r\n \r\no.oo $====o=.o=o \r\n \r\nSee notes to the general purpose financial statements. - 41 - \r\n \r\n TlfT COUNTY RQARQ Of EQLJCATION ANALYS1S9f MINIM( IM EXPENQffiJRf Bf;QlJfBfUf;tfl'S - RV PBQC\".JMM \r\nGENERAL FUND- Qt.JAi ITY BASIC f;DlJCADQN ffiOGBA.MS \r\nYEAR ENPfP II lNE 30 1994 \r\n \r\nGENERAi ANP CAREER fQUCATJQN PROGRAMS 1\u003c1.-gi,rtenr) Grad51 -3 (1 \r\nSub-Total - K-3 Grad54-5r) Grad56-8 (1 Grad5 9-12 r) High School Laboratories r) Vocational Education Laboratories Ci \r\nTotal General and career Education Programs SPfCIAl fpt JQATIQN PRQGRAMS \r\nRegular Programs Categoiyl(1 Categoiy II (1 Categoiy Ill (1 Categoiy IV r) Itinerant Supplemental Speech Sub-Total - Regular categcxy V (Gilled) (1 Tatel Special Education Programs \r\nRE:UFQIAl fQl IQA.TIQN PRQGRAM r) Ml;QIA Cf;NTFR PROGRAMS \r\nTotal Thirteen Weighted and Media Cent~ \r\nSTAFF PEYehQPMfNT ffiOGRAMS (1) Cost o( lrmuction -Oevelopment \r\nTotal StaffOevelopment \r\n(1 Identifies Thirteen Weghted Programs. Note: (1) $21,110.25dtheallotmentforProfessional \r\nOevelopment has been transferred to Cost rA Instruction as authorized by OCGA 20-2-182. \r\nSee notes to the general purpo\u0026e financial statements. \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\nMl~TERM \r\n \r\nREQUIRED \r\n \r\n1,221,660.00 3 096 906.00 $ 4,318,566.00 1,667,640.00 3,086,470.00 1,881,316.00 \r\n712,575,00 779 273.00 $ 12 445 840.00 \r\n \r\n1,099,494.00 $ \r\n \r\n2 787 215.40 \r\n \r\n90 $ 3,886,709.40 $ \r\n \r\n90 \r\n \r\n1,500,876.00 \r\n \r\n90 \r\n \r\n2, TT7,823.00 \r\n \r\n90 \r\n \r\n1,693,184.40 \r\n \r\n90 \r\n \r\n641,317.50 \r\n \r\n90 \r\n \r\n701 345.70 \r\n \r\n$ 11 201 256.00 $ \r\n \r\n0.00 $ 1,099,494.00 2 787 215.40 \r\n0.00 $ 3,886,709.40 1,500,876.00 2,m,823.oo 1,693,184.40 641,317.50 701 345.70 \r\n0.00 $ 11 201 256.00 \r\n \r\n1,954,478.00 \r\n \r\n1,759,030.20 $ \r\n \r\n0.00 $ 1,759,030.20 \r\n \r\n1,954,478.00 90 $ 1,759,030.20 $ \r\n \r\n191 047.00 90 \r\n \r\n171 942.30 \r\n \r\n$ 2145 525.00 \r\n \r\n1 930 972.50 $ \r\n \r\n469182.00 90 $ \r\n \r\n422 263.80 $ \r\n \r\n546122.00 90 $ \r\n \r\n491 509.80 $ \r\n \r\n$ 15,606,669.00 \r\n \r\n$ 14 046,002.10 $ \r\n \r\n0.00 $ \r\n0.00 $ 0.00 $ 0.00 \r\n \r\n1,759,030.20 171 942.30 \r\n1 930972.50 422 263.80 491 509.80 \r\n \r\n0.00 $ 14046002.10 \r\n \r\n61,895.25 100 $ 119 624.75 100 \r\n \r\n81,895.25 $ 119 624.75 \r\n \r\n181,520.00 \r\n \r\n181 520.00 $ \r\n \r\n$ 15,788,189.00 \r\n \r\n$ 14,227 522.10 $ \r\n \r\n0.00 $ 0.00 \r\n \r\n61,895.25 119624.75 \r\n \r\n0.00 $ \r\n \r\n181,520.00 \r\n \r\n0.00 $ 14,227 522.10 \r\n \r\n- 42 - \r\n \r\n SCHEDULE \"10\" \r\n \r\nREQUIRED ALLOTMENT \r\n \r\nSALARIES ACTUAL \r\n \r\nDISTRIBUTION BY RESPECTIVE PORTIONS \r\n \r\nAMOUNT OF UNDER EXPENDITURE \r\nFOR REQUIRED ALLOTMENT \r\n \r\nREQUIRED ALLOTMENT \r\n \r\nOPERATIONS \r\n \r\nAMOUNT OF \r\n \r\nUNDEREXPENDITURE \r\n \r\nFOR REQUIRED \r\n \r\nACTUAL \r\n \r\nALLOTMENT \r\n \r\n1,071,536.40 $ 1,184,871.48 \r\n \r\n27,957.60 $ \r\n \r\n32,844.11 \r\n \r\n2 701198.80 \r\n \r\n3131 766.99 \r\n \r\n86 016.60 \r\n \r\n103 806.51 \r\n \r\n3,772,735.20 $ 4,316,638.47 $ \r\n \r\n0.00 \r\n \r\n113,974.20 $ \r\n \r\n136,650.62 $ \r\n \r\n0.00 \r\n \r\n1,455,867.00 \r\n \r\n1,596,378.20 \r\n \r\n0.00 \r\n \r\n45,009.00 \r\n \r\n60,111.23 \r\n \r\n0.00 \r\n \r\n2,697,166.80 \r\n \r\n2,901,061.65 \r\n \r\n0.00 \r\n \r\n80,655.20 \r\n \r\n113,440.88 \r\n \r\n0.00 \r\n \r\n1,620,189.00 \r\n \r\n2,141,113.12 \r\n \r\n0.00 \r\n \r\n72,995.40 \r\n \r\n131,218.63 \r\n \r\n0.00 \r\n \r\n613,778.40 \r\n \r\n633,300.71 \r\n \r\n0.00 \r\n \r\n27,539.10 \r\n \r\n52,631.12 \r\n \r\n0.00 \r\n \r\n612 034.20 \r\n \r\n826 758.16 \r\n \r\n0.00 \r\n \r\n89311.50 \r\n \r\n98 015.14 \r\n \r\n0.00 \r\n \r\n$ 10771 770.60 $ 12 415 250.31 $ \r\n \r\n0.00 \r\n \r\n429 485.40 $ \r\n \r\n592 067.62 $ \r\n \r\n0.00 \r\n \r\n3,690.90 $ 840,247.20 755,766.90 108,248.40 \r\n4,330.80 5 283.00 \r\n \r\n19,837.46 968,150.75 866,330.95 108,488.15 \r\n \r\n184.50 $ 17,565.30 20,095.20 \r\n3,618.00 \r\n \r\n599.15 19,135.17 21,257.38 \r\n6,649.02 \r\n \r\n1,717,567.20 $ 1,962,807.31 $ \r\n \r\n0.00 \r\n \r\n41,463.00 $ \r\n \r\n47,640.70 $ \r\n \r\n0.00 \r\n \r\n167 292.00 \r\n \r\n275 559.03 $ \r\n \r\n0.00 \r\n \r\n4 650.30 \r\n \r\n6175.40 $ \r\n \r\n0.00 \r\n \r\n1 884859.20 $ 2 238 386.34 \r\n \r\n46113.30 $ \r\n \r\n53 816.10 \r\n \r\n415 030.50 $ \r\n \r\n415 628.76 $ \r\n \r\n0.00 \r\n \r\n7 233.30 $ \r\n \r\n7 855.38 $ \r\n \r\n0.00 \r\n \r\n380 989.80 $ \r\n \r\n552 297.25 $ \r\n \r\n0.00 \r\n \r\n110 520.00 $ \r\n \r\n147 818.96 $ \r\n \r\n0.00 \r\n \r\n$ 13,452,650.10 $ 15 621,542.66 $ \r\n \r\n0.00 \r\n \r\n593,352.00 $ \r\n \r\n801,561.06 $ \r\n \r\n0.00 \r\n \r\n61,895.25 $ \r\n \r\n63,200.95 s \r\n \r\n0.00 \r\n \r\n119 624.75 \r\n \r\n125 324.72 \r\n \r\n0.00 \r\n \r\n181,520.00 $ \r\n \r\n188,525.67 $ \r\n \r\n0.00 \r\n \r\n$ 13,452,650.10 $ 15,621 542.66 $ \r\n \r\n0.00 \r\n \r\n774,872.00 $ \r\n \r\n990,086.73 $ \r\n \r\n0.00 \r\n \r\n. 43. \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS \r\nYEAR ENDED JUNE 30 1994 \r\n \r\nSCHEDULE \"11\" \r\n \r\nBOARD MEMBER ADDRESS \r\nMr. Hal Henderson. Chairman c) \r\n2802 Moore Highway, ABAC 47 Tifton, Georgia 31794 \r\nMr. Bill Brim 2426 Michael Drive Tifton, Georgia 31794 \r\nMr. Tim Dorminey () 4425 Frazier Circle Tifton, Georgia 31794 \r\nMr. Roy Jackson, Jr. () Route 4, Box 2000 Tifton, Georgia 31794 \r\nMr. Tommy Lindsey() P. 0. Box98 Omega, Georgia 31775 \r\nMrs. Barbara McCoy c) \r\n2606 Wilson Avenue Tifton, Georgia 31794 \r\nMrs. Mary McMillion (J \r\n1501 South Central Avenue Tifton, Georgia 31794 \r\nMrs. Leona Mott () 3111 Eason Avenue Tifton, Georgia 31794 \r\n() Denotes Board Members Serving as of June 30, 1994 \r\n \r\nCOMPENSATION \r\n \r\nTRAVEL \r\n \r\n$ \r\n \r\n2,250.00 $ \r\n \r\n1,109.16 \r\n \r\n950.00 \r\n \r\n600.00 \r\n \r\n1,900.00 1,800.00 2,100.00 \r\n \r\n367.36 439.18 494.95 \r\n \r\n1,450.00 \r\n \r\n1,450.00 \r\n \r\n$ \r\n \r\n12,500.00 $ \r\n \r\n2,410.65 \r\n \r\nSee notes to the general purpose financial statements. - 44 - \r\n \r\n SECTION II COMPLIANCE \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 22, 1995 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Tift County Board of Education \r\nCOMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \r\nLadies and Gentlemen: \r\nWe have audited the general purpose financial statements of the Tift County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated March 22, 1995. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. \r\nWe conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. \r\nCompliance with laws, regulations, contracts, and grants applicable to Tift 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 indicate that, with respect to the items tested, the Tift County Board of Education complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Board had not complied, in all material respects, with those provisions. \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:cm 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 22, 1995 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Tift 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 of the Tift County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 22, 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 Board's compliance with the following requirements applicable to each ofits Federal financial assistance programs, which are listed in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1994: \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 ofManagement and Budget's \"Compliance Supplement for Single Audits of State and Local Governments\" and other additional procedures as deemed necessary. Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Board's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. \r\n \r\n94CRL-60 \r\n \r\n Material instances of noncompliance consist offailures to follow the general requirements that caused us to conclude that the misstatements resulting from those failures are material to the Federal financial assistance programs. The results of our tests of compliance disclosed a material instance of noncompliance that is described in the Schedule ofFindings and Improper or Questioned Costs. \r\nWe considered this material instance of noncompliance in forming our opinion on whether the Tift County Board of Education general purpose financial statements are presented fairly, in all material respects, in conformity with generally accepted accounting principles, and this report does not affect our report dated March 22, 1995, on those financial statements. \r\nExcept as described above, the results of our procedures to determine compliance indicate that, with respect to the items tested, the Tift County Board of Education, complied, in all material respects, with the requirements listed in the second paragraph of this report, and with respect to items not tested, nothing came to our attention that caused us to believe that the Board had not complied, in all material respects with those 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:cm 94CRL-60 \r\n \r\n C!AUDE 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 22, 1995 \r\n \r\nHonorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members ofthe Tift 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 Tift County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated March 22, 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 Tift 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 programs, which are identified in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1994. The management of the Tift 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 ofthe United States; and Office of Management and Budget (0MB) Circular A-128, \"Audits of State and Local Governments\". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Tift County Board of Education's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion. \r\nIn our opinion, the Tift 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 programs for the year ended June 30, 1994. \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:cm 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 22, 1995 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation \r\nand Superintendent and Members of the Tift County Board ofEducation \r\n \r\nSINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS \r\n \r\nLadies and Gentlemen: \r\n \r\nWe have audited the general purpose financial statements of the Tift County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated March 22, 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 of the fiscal year 1994 general purpose financial statements of the Tift County Board ofEducation and with our consideration ofthe Board's internal control structure used to administer Federal financial assistance programs, as required by Office ofManagement and Budget (0MB) Circular A128, \"Audits of State and Local Governments\", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1994. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements 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 ofan opinion on the Tift County Board of Education's compliance with these requirements. Accordingly, we do not express such an opinion. \r\n \r\nWith respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing \r\n \r\n94CRL-120 \r\n \r\n came to our attention that caused us to believe that the Tift County Board of Education had not complied, in all material respects, with those requirements. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n \r\nCLV:cm 94CRL-120 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n SECTION III INTERNAL CONTROL \r\n \r\n CIAUDE L. VICKERS \r\nSTATE AUDITOR (4Q4) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 22, 1995 \r\n \r\nHonorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board ofEducation \r\nand Superintendent and Members of the Tift 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 Tift County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated March 22, 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 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\nIn planning and performing our audit of the general purpose financial statements of the Tift 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 ofexpressing our opinion on the general purpose financial statements and not to provide assurance on the internal control structure. \r\nThe management of the Tift County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not \r\n94ICL-3 \r\n \r\n be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. \r\n \r\nFor the purposes of this report, we have classified the significant internal control structure policies and procedures in the following categories: \r\n \r\n(1) Cash and Cash Equivalents (2) Investments (3) Inventories (4) Revenue/Receivables/Receipts (5) Procurement \r\n \r\n(6) Expenditures/Liabilities/ Disbursements \r\n(7) Employee Compensation (8) General Ledger \r\n(9) General Fixed Assets \r\n \r\nFor all ofthe internal control categories listed above, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk. \r\n \r\nWe noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements. \r\n \r\nAs descnbed in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category: \r\n \r\nGeneral 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 condition disclosed above is also considered to be a material weakness. \r\n \r\nThis condition was considered in determining the nature, timing, and extent of the procedures to be performed in our audit of the Tift County Board of Education's financial statements and this report does not affect our report thereon dated March 22, 1995. \r\n \r\n94ICL-3 \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:cm 94ICL-3 \r\n \r\nClaude L. Vickers State Auditor \r\n \r\n CLAUDE L. VICKERS \r\nSTATE AUDITOR (404) 656-2174 \r\n \r\nDEPARTMENT OF AUDITS \r\n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \r\nMarch 22, 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 Tift 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 of the Tift County Board of Education as ofand for the year ended June 30, 1994, and have issued our report thereon dated March 22, 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 Board's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated March 22, 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 Tift 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 general purpose financial statements and on its compliance with requirements applicable to major Federal financial assistance programs and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated March 22, 1995. \r\n94ICL-5 \r\n \r\n The management of the Tift 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 ofinherent 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 purposes of this report, we have classified the significant internal control structure policies and procedures used in administering Federal financial assistance programs in the following control categories: \r\n \r\nGENERAL REQUIREMENTS \r\n \r\nSPECIFIC REQUIREMENTS \r\n \r\n(1) Political Activity (2) Civil Rights (3) Cash Management (4) Federal Financial Reports \r\n \r\n(1) Types of Services Allowed or Unallowed \r\n(2) Eligibility \r\n(3) Matching, Level ofEffort, 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-Up/Resolution (8) Administrative Requirements \r\n \r\n(S) Applicable Special Tests and Provisions \r\n(6) Other Requirement Claims for Advances and Reimbursements \r\n \r\nFor all of the internal control structure categories listed above, we obtained an understanding ofthe design ofrelevant policies and procedures and whether they have been placed in operation, and we assessed control risk. \r\n \r\nDuring the year ended June 30, 1994, the Tift County Board ofEducation expended 72% of its total Federal financial assistance under major Federal financial assistance programs. \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 \r\npreventing or detecting material noncompliance with general requirements and specific requirements as described above that are applicable to each of the Board's major Federal financial assistance programs, which \r\n \r\n94ICL-S \r\n \r\n are identified in the Schedule ofFederal Financial Assistance. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. \r\nOur consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might constitute material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a 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. We noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above. \r\nThis report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. \r\nRespectfully submitted, \r\n~~ \r\nClaude L. Vickers State Auditor \r\nCLV:cm 94ICL-5 \r\n \r\n SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\n \r\n TIFT 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: $31,327.10 Audit Control Number 7371-93-02 \r\nThe audit report for the year ended June 30, 1993, disclosed that the Staff Development - Professional Development Stipends Program had an underexpenditure of Quality Basic Education (QBE) funds of $31,327.10 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$31,327.10 should be returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal year. \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 7371-93-01 \r\nThe audit report for the year ended June 30, 1993, noted that the management of the Tift County Board of Education had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include but may not be limited to date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. \r\n \r\n TIFT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS \r\nYEAR ENDED JUNE 30 1994 \r\nCURRENT YEAR \r\nALLOWABLE COSTS/COST PRINCIPLES Expenditures in Excess ofBudget Federal Financial Assistance Material Noncompliance Amount: $11,797.73 Audit Control Number 7261-94-01 \r\nIn the year under review, the Board overspent one budget category in Title VI, B - Flow Through funds (CFDA 84.027) without seeking approval of the Georgia Department of Education. According to the State agency's instructions, the Board was required to obtain an amendment to its approved budget (DE-0885) when expenditures in a budget category exceed 120 percent of the approved amount. It was noted that the Board expended $31,226.93 in fiscal year 1994 Title VI, B funds for Pupil Services purposes which represented a 193% increase above the $16,191.00 approved for this budget category. A total of $11,797.73 was inappropriately expended which represents the amount in excess of the budget approval threshold of $19,429.20 ($16,191.00 X 120%). \r\nThe Georgia Department of Education should review this matter to determine the allowability of the $11,797.73 overexpended by the Board. The Board should implement measures to assure that budget amendments are obtained when expenditures are expected to exceed 120 percent ofa budget category. \r\nNote: The Tift County Board ofEducation was provided an opportunity to include pertinent comments from \r\nthe Board's management concerning these audit findings, conclusions and recommendations. The Board has \r\nelected not to provide comments for inclusion in this report. \r\n \r\n "}],"pages":{"current_page":1,"next_page":null,"prev_page":null,"total_pages":1,"limit_value":10,"offset_value":0,"total_count":6,"first_page?":true,"last_page?":true},"facets":[{"name":"type_facet","items":[{"value":"Text","hits":6}],"options":{"sort":"count","limit":16,"offset":0,"prefix":null}},{"name":"creator_facet","items":[{"value":"Georgia. Department of Audits","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"subject_facet","items":[{"value":"Education--Georgia--Tift County--Auditing--Periodicals.","hits":6},{"value":"Education--Georgia--Tift County--Finance--Statistics--Periodicals.","hits":6},{"value":"Georgia Government Documents--Serial","hits":6},{"value":"Tift County Board of Education (Ga.)--Appropriations and expenditures--Periodicals.","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"location_facet","items":[{"value":"United States, Georgia, Tift County, 31.45744, -83.52659","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"counties_facet","items":[{"value":"Tift","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"year_facet","items":[{"value":"1994","hits":1},{"value":"1995","hits":1},{"value":"1996","hits":1},{"value":"1997","hits":1},{"value":"1998","hits":1},{"value":"1999","hits":1}],"options":{"sort":"count","limit":100,"offset":0,"prefix":null},"min":"1994","max":"1999","count":6,"missing":0},{"name":"medium_facet","items":[{"value":"state government records","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"fulltext_present_b","items":[{"value":"true","hits":5},{"value":"false","hits":1}],"options":{"sort":"count","limit":100,"offset":0,"prefix":null}},{"name":"rights_facet","items":[{"value":"http://rightsstatements.org/vocab/InC/1.0/","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"collection_titles_sms","items":[{"value":"Georgia Government Publications","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"serial_titles_sms","items":[{"value":"Audit report, Tift County Board of Education, Tifton, Georgia.","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"provenance_facet","items":[{"value":"University of Georgia. Map and Government Information Library","hits":6}],"options":{"sort":"count","limit":11,"offset":0,"prefix":null}},{"name":"call_numbers_sms","items":[{"value":"A800 .R1 E26 T5/","hits":6},{"value":"A800 .R1 E26 T5 1993-94","hits":1},{"value":"A800 .R1 E26 T5 1994-95","hits":1},{"value":"A800 .R1 E26 T5 1995-96","hits":1},{"value":"A800 .R1 E26 T5 1996-97","hits":1},{"value":"A800 .R1 E26 T5 1997-98","hits":1},{"value":"A800 .R1 E26 T5 1998-99","hits":1}],"options":{"sort":"count","limit":100,"offset":0,"prefix":null}},{"name":"class_name","items":[{"value":"Item","hits":6}],"options":{"sort":"count","limit":100,"offset":0,"prefix":null}},{"name":"geojson","items":[{"value":"{\"type\":\"Feature\",\"geometry\":{\"type\":\"Point\",\"coordinates\":[-83.52659, 31.45744]},\"properties\":{\"placename\":\"United States, Georgia, Tift County\"}}","hits":6}],"options":{"sort":"index","limit":-2,"offset":0,"prefix":null}},{"name":"placename","items":[{"value":"United States, Georgia, Tift County","hits":6}],"options":{"sort":"count","limit":100,"offset":0,"prefix":null}}]}}