HomeMy WebLinkAboutAUGUSTA RICHMOMD COUNTY AUDIT BOARD OF EDUCATION
Augusta Richmond GA
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DOCUMENT TYPE: M
YEAR: ~l
BOX NUMBER: O~
FILE NUMBER: \O\'lu
NUMBER OF PAGES:
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ADNA L. STEIN
President
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RICHMOND COUNTY
2083 Heckle Street
Augusta, Georgia 309044295
(706) 737-7200
CHARLES G. LARKE, Ed.D.
Superintendent
July 2, 1997
Richmond County Board of Commissioners
530 Greene Street
Augusta, GA 30911
Dear Sir;
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BOARD OF EDUCATION
C. GENE SPIRES, CPA
Controller
Enclosed is a copy of our audited June 30, 1996, financial statements. The
audited statements are sent to you in satisfy a requirement of the Single Audit Act
passed by Congress.
Sincerely,
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C. GENE SPIRES, CPA
Controller
CGS/smb
Enclosure
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STATE OF GEORGIA
DEPARTMENT OF AUDITS
254 WASHINGTON STREET
ATLANTA. GEORGIA 30334
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AUDIT REPORT
RICHMOND COUNTY BOARD OF EDUCATION
AUGUSTA, GEORGIA
YEAR ENDED ,JUNE 30, 1996
RICHMOND COUNTY BOARD OF EDUCATION
- TABLE OF CONTENTS -
Page
SECTION I
FINANCIAL
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE
FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION -
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
EXHmlTS
GENERAL PURPOSE FINANCIAL STATEMENTS
COMBINED STATEMENTS - OvERVIEW
A COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUP
B COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
AND EXPENDABLE TRUST FUNDS
C STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
(NON-GAAP BASIS)
GENERAL AND SPECIAL REVENUE FUNDS
D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
2
4
7
8
ADDITIONAL FINANCIAL INFORMATION
COMBINING STATEMENTS
SPECIAL REVENUE FUND
E COMBINING BALANCE SHEET 26
F COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES 30
CAPITAL PROJECTS FUND
G COMBINING BALANCE SHEET 34
H COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES 36
FIDUCIARY FUND TYPES
I COMBINING BALANCE SHEET 38
J COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
EXPENDABLE TRUST FUNDS 39
K COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUNDS 40
RICHMOND COUNTY BOARD OF EDUCATION
- TABLE OF CONTENTS -
Page
SECTION I
, FINANCIAL
ADDITIONAL FINANCIAL INFORMATION
'1
SCHEDULES
1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE 41
2 CASH AND CASH EQUIVALENTS 44
3 INVESTMENTS 45
4 ACCOUNTS RECEIVABLE 46
5 DEBT SERVICE REQUIREMENTS TO MATURITY 48
SCHEDULE OF REVENUE
6 STATE 50
7 TAXES AND OTHER 52
SCHEDULE OF EXPENDITURES BY OBJECT
8 GENERAL AND SPECIAL REVENUE FUNDS ' 53
9 LOTTERY PROGRAMS 54
ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS
10 OVERALL 57
II BY PROGRAM 58
12 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS 60
SECTION II .
COMPLIANCE
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
SINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS
APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SINGLE AUDIT OPINION ON COMPLIANCEWITH SPECIFIC REQUIREMENTS
APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE
TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS
RICHMOND COUNTY BOARD OF EDUCATION
-TABLEOFCONTENTS-
SECTION III
INTERNAL CONTROL
REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS
SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED
IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SECTION IV
FINDINGS AND IMPROPER OR QUESTIONED COSTS
SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
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SECTION I.
FINANCIAL
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DEPARTMENT OF AUDITS
254 Washington Street, S.w., Suite 214
, Atlanta. Georgia 30334-8400
CLAUDE L. V leKERS
STATE AUDITOR
(404) 656-2174
February 28, 1997
Honorable Zell Miller, Governor
Members of the General Assembly
Members of the State Board of Education
and
Superintendent and Members of the
Richmond County Board' of Education
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE
FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION -
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
Ladies and Gentlemen:
We have audited the general purpose financial statements (Exhibits A through D) of the Richmond County
Board of Education, as of and for the year ended June 30~ 1996, as listed in the table of contents. These
financiai statements are the responsibility of the Board's management. Our responsibility is to express an
opinion on these financial statements based on Ol~r audit.
Except as discussed in the following paragraph, we 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 OMS 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.
We did not observe the taking of the Federal donated commodities inventory, the purchased foods inventory
or the consumable supplies inventory at June 30, 1996, nor could we satisfy ourselves as to the accuracy of
the amounts stated as inventories through alternative procedures.
As described in the notes to the general purpose financial statemerits" 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 varianGes are described as follows:
96ARL-13
,,* 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 confonn to generally accepted accounting principles.
· 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.,
* The Board did not recognize as expenditures, in the year ended June 30, 1996, a portion of salaries
and the corresponding employer's cost of related benefits earned for contractual services completed
prior to June 30, 1996. Also funds received, subsequent to June 30, 1996, from the Georgia
Department of Education for the State's share of these unrecorded salaries and related benefits were
not recorded as revenue in the year under review. Conversely, the similar expenditures and related
revenues for contractual services completed prior to June 30, 1995, were improperly recorded in the
year ended June 30, 1996. To 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.'
The aggregate effects on the general purpose financial statements of these variances or omissions have not
been determined, but are believed to be material.
In our opinion, except for the effects of such adjustments, if any, on the General Fund and 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 consumable supplies and 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 present fairly, in all material respects, the financial position of the
Richmond County Board of Education as of June 30, 1996, and the results of its operations for the year then
ended, in confonnity with generally accepted accounting principles. In accordance with Government Auditing
Standards, we have also issued a report dated February 28, 1997, on our consideration of the Board's internal
control structure and a report dated February 28, 1997, .on its compliance with . laws and regulations.
Our audit was conducted for the purpose of fonning an opinion on the general purpose financial statements
of the Richmond County Board of Education taken as a whole. The combining statements (Exhibits E through
K) and the financial schedules (Schedules J through 12 which includes the Schedule of Federal Financial
Assistance) are presented for purposes of additional analysis and are not a required part of the general purpose
financial statements of the Richmond, County Board of Education. Such infonnation has been subjected to
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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 General Fund and 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 consumable
supplies and food service inventories as discussed in th~ 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.
96ARL-13
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.
Respectfully submitted,
~
Claude L. Vickers
State Auditor
CL V:gp
96ARL-13
RICHMOND COUNTY BOARD OF EDUCATION
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Cash and Cash Equivalents
InvestmeDts
Acclounts Receivable
Due from Other Funds
Inventories
Consumable Supplies
Food
Donated Comnodities
Purchased Food
Amount Available In Debt Servk:e Fund '
Amount to be Provided in Future Years
For Payment of:
Bond Debt
Capital Lease ~reements
Con1>ensated Absences
Total Assets
LIABILITIES AND FUND' EQUITY
LIABILITIES
Cash Overdraft
Acclounts Payable
Salaries Payable
Contracts Payable
Retainages Payable
Deferred Revenue
Due to Other Funds
Funds Held for Others
Capital Lease ~reements
ColT1>8nsated Absences
General Obligation Bonds Payable
Total Liabilities
FUND EQUITY
Fund Balances
Reserved
For Bus Replacement Funds
For Continuation of Federal Program
For Debt Service '
For Encumbrances
For Expired Grant Balances/Questioned Costs
For Inventories
Consumable Supplies
Food
Donated Corrmodities
Purchased Food
For State Capital OuUay Projects
RICHMOND COUNTY BOARD OF EDUCATION
COMBINED BALANCE SHEET
A1..L FUND TYPES AND ACCOUNT GROUP
,JUNE30 1996
GENERAl.
FUND
GOVERNMENTA1.. FUND TYPES
SPEC~ CAPITA1..
REVENUE PROJECTS
FUND FUND
$ 15,698,808.10
7,300,504.60
885,571.46 $ 6,418,757.65
125,000.00
2,112,547.85
.---
24.974.11
428.532.26
160,708.01
$ 2,608,548.40
498,046.00
$ 26,122,432.01 $ 7,032.972.03 $ 3,106,594.40
$
$ 866,698.56
3.634,955.27 431,250.48 $
1,707,589.45
752.13
892,167.05
955,831.08
25,000.00
125,000.00
$ 3,634,955.27 $ 3,005,538.49 $ 1,998,750.26
$ 225,304..07
$
1,049,002.16
1oo,n3.44
2,112,547.85
$ 3,487,627.52 $
Unreserved
Undesignated 18,999,849.22
Total Fund Equity
Total Uabilities and Fund Equity
$ 22,487,476.74 $
19.84
142,373.49
24,974.11
428,532.26
160,708.01
$ 893,360.72
756,607.71 $ 893,360.72
3,270,825.83 214,483.42
4,027,433.54 $ 1 ,107,844.14
$ 26,122,432.01 $ 7,032,972.03 $ 3,106,594.40
The notes to the general purpose financial statements are an integral part of this statement.
- 2 -
EXHIBIT "A"
FIDUCIARY ACCOUNT GROUP
DEBT FUND TYPES GENERAL ' TOT AI.S
SERVICE TRUST AND LONG-TERM (Memorandum Only)
FUND AGENCY FUNDS DEBT JUNE 30,1996 JUNE 30. 1995
$ 2,853,188.05 $ 88,135.06 $ 21,246,679.61 $ 20,907,731.90
7,300,504.60 13,384.781.71
22.618.00 7,824,993.11 3.696,819.32
125.000.00
2.137.521.96 2,163.09927
428.53226 554,743.70
160.708.01 144,26629
$ 2,875,806.05 2,875,806.05 2,878,434.30
21,859.193.95 21,859.193.95 23.541,565.70 '
13.669.163.50 13,669.163.50 15.045,270.99
755,257.53 755.257.53 689,740.33
$ 2,875,806.05 $ 86,135.06 $ 39.159,421.03 $ 78.383,360.58 $ 83.006,453.51
$ 866,698.56
4.066,957.88 $ 3,998,376.95
1.707.589.45 1,365,148.59
892.167.05 133.695.09
955,831.08 198.147.55
25,000.00
125,000.00
$ 34,592.48 34,592.48 37.490.49
$ '13.669,163.50 13.669.163.50 15.045,270.99
755,257.53 755,257.53 689.740.33
24,735.000.00 ' 24,735,000.00 26,420.000.00
$ 34,592.48 $ 39,159,421.03 $ 47.833.257.53 $ 47,887,869.99
$ 225,304.07
19.84 $ 1.178.94
$ 2,875,806.05 2,875,806.05 2.878,434.30
1,191,375.65 598,935.04
100.n3.44 110.003.98
2.137.521.96 2,163,099.27
428,532.26 554.749.06
160.708.01 144,266.29
893,360.72 3,167,719.45
$ 2,875,806.05 $ 8.013.402.00 $ 9,618.386.33
0.00 $ 51.542.58 22,536,701.05 25.500,197.19
$ 2.875.806.05 $ 51,542.58 $ 30,550,103.05 $ 35,118,583.52
$ 2,875,806.05 $ 86,135.06 $ 39,159,421.03 $ 78,383,360.58 $ 83.006,453.51
. 3,.
RICHMOND COUNTY BOARD OF EDUCATION
COMBINED STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS
YEAR ENDED JUNE 30.1996
GENERAL
FUND
GOVERNMENTAL FUND
SPECIAL CAPITAL
REVENUE PROJECTS
FUND FUND
REVENUES
State Funds $ 98,464,749.27 $ 8,793,907.15 $ 3,537,365.58
Federal Funds 1,507,666.90 16,969,899.39
Taxes and Other Funds 56,093,004.07 ' 3,108,514.96 40,637.07
Total Revenues $ 156,065,420.24 $ 28,872,321.50 $ 3,578,002.65
EXPENDITURES
Current
,Instruction $ 99,528,573.47 $ 11,370,297.59
Support Services
Pupil Services 5,126,220.58 2,025,464.37
Improvement of Instructional SelVices 2,979,198.59 864,958.20
Educational Media Services 4,394,342.41 14,639.36
General Administration 1,803,127.85 752,542.35
School Administration 10,814,468.69
, Business Administration 896,408.41 2,438.27 $ 234.45
Maintenance and Operation of Plant 15,711,355.67 865,548.21
Student Transportation Services 5,897,881.66 85,158,40
Central Support Services 1,853,982.27
Other Support Services 268,812.66 289,285.58
Food Services Operation 8,595.10 12,690,879.66
Other Operations of Non-Instructional Services 24,690.64 468,287.10
Capital Outlay 1,525,954.94 10,559,697.39
Debt Service
Principal 1,333,686.1,3 49,096.36
Interest 807,152.79 2,400.81
Paying Agent Fees
Total Expenditures $ 152,974,451.86 $ 29,480,996.26 $ 10,559,931.84
Excess of Revenues over (under) Expenditures $ 3,090,968.38 $ -608,674.76 $ -6,981,929.19
OTHER FINANCING SOURCES (USES)
Capital Leases $ 6,675.00
Operating Transfers In 652,463.00 $ 418,091.54 $ 4,840,804.05
Operating Transfers Out -5,258,895.59 -652,463.00
Total Other Financing Sources (Uses) $ -4,599,757.59 $ 418,091.54 $ 4,188,341.05
Excess of Revenues and Other Financing Sources
over (under) Expenditures and Other Financing Uses $ -1,508,789.21 $ -190,583.22 $ -2,793,588.14
FUND BALANCE JULY 1 23,310,470.73 4,327,786.48 4,553,129.54
Consumable Supplies Inventory - Net Change in Period 34,097.96
Food Inventory - Net Change in Period
Donated Commodities -126,211.44
Purchased Food 16,441.72
R~idual Equity Transfer 651,697.26 -651,697.26
FUND BALANCE JUNE 30 $ 22,487,476.74 $ 4,027,433.54 $ 1,107,844.14
The notes to the general purpose financial stateme-nts are an integral part of this statement.
-4-
EXHIBIT -B-
"TYPES FIDUCIARY TOTALS
DEBT FUND TYPE (Memorandum Only)
SERVICE EXPENDABLE YEAR ENDED
FUND TOTAL TRUST FUNDS JUNE 30,1996 JUNE 30,1995
$ 110,796,022.00 $ 110,796,022.00 $ 97,m,706.51'
18,477,566.29 18,477,566.29 17,368,193.89
$ 2,909,722.96 62,151,879.06 $ 2,780.11 62,154,659.17 59,869,207.51
$ 2,909,722.96 $ 191 ,425,467.35 $ 2,780.11 $ 191,428,247.46 $ 175,015,107.91
$ 110,898,871.06 $ 0.00 $ 110,898,871.06 $ 99,430,160.84
7,151,684.95 7,151,684.95 5,643,023.30
3,844,156.79 3,844,156.79 3,281,066.95
4,408,981.77 4,408,981.77 5,127,742.42
2,555,670.20 2,555,670.20 2,405,969.04
10,814,468.69 10,814,468.69 9,946,038.20
899,081.13 899,081.13 820,464.1,3
16,576,903.88 16,576,903.88 16,629,271.37
5,983,040.06 5,983,040.06 6,385,606.07
1,853,982.27 1 ,853,982.27 1,808,520.32
558,098.24 558,098.24 206,692.13
12,699,474.76 12,699,474.76 11,448,212.77
492,977.74 492,977.74 1,659,684.47
12,085,652.33 12,085,652.33 5,793,007.73
$ 1,685,000.00 3,067,782.49 3,067,782.49 2,647,018.40
1,216,847.50 2,Q26,401.10 2,026,401.10 1,793,809.72
10,503.71 10,503.71 10,503.71 10,361.33
$ 2,912,351.21$ 195,927,731.17 $ 0.00 $ 195,927,731.17 $ 175,036,649.19
$ -2,628.25 $ -4,502,263.82 $ 2,780.11 $ -4,499,483.71 $ -21,541.28
$ 6,675.00 $ 6,675.00 $ 986,117.36
5,911,358.59 '5,911,358.59 3,686,168.00
-5,911 ,358.59 -5,911,358.59 -3,686,168.00
$ 6,675.00 $ 6,675.00 $ 986,117.36
$ -2,628.25 $ -4,495,588.82 $ 2,780.11 $ -4,492,808.71 $ 964,576.08
2,878,434.30 35,069,821.05 48,762.47 35,118,583.52 33,919,857.14
34,097.96 34,097.96 116,156.65
-126,211.44 -126,211.44 74,082.14
16,441.72 16,441.72 43,911.51
0,00 0,00
$ 2,875,806.05 $ 30,498,560.47 $
51,542.58 $ 30,550,103.05 $ 35,118,583.52
-5-
The notes to the general purpose financial statements are an integral part of this statement.
-7.
RICHMOND COUNTY BOARD OF EDUCATION EXHIBIT "D"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Richmond 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 of the departures from generally accepted accounting principles disclosed in
these notes, the financial statements of the Board have been prepared in conformity with generally accepted
accounting principles as applied to governmental units and unless otherwise disclosed in these notes, the
financial statements present all of the "fund types and account groups of the Board. The Governmental
Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental
accounting and financial reporting standards.
The more significant of the Board's accounting policies are described below.
REPORTING ENTITY
In 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 Financiai Reporting Standards,
Section 2100, "Defining the Financial Reporting Entity". The primary government consists of all the
organizations that compose the legal entity of the Richmond County Board of Education.
Based upon the application of the above criteria, the Richmond 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 Richmond 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.
Board 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.
FUND ACCOUNTING
The Board uses funds and an account groupto repqrt on its financial position and the results of its operations.
Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating
transactions related to certain governmental functions or activities.
A fund is a separate accounting entity wi~h 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.
- 8 -
RICHMOND COUNTY BOARD OF EDUCATION EXIDBIT "0"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
General 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~
Although "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.
The general purpose financial statements account for all State, Federal, Taxes and Other funds under control
of the Board, in compliance with generally accepted accounting principles applicable to governmental units,
unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows:
GOVERNMENTAL FUND lYPES - are used to account for all or most ofa Board's educational activities.
Governmental Fund Types include:
GENERAL FUND - the fund used to account for all financial resources of the Board except those required
to be accounted for in another fund. These transactions relate to resources obtained and used for services
provided by a board of. education.
SPECIAL 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
goveriunent to accomplish specific objectives and are required to be accounted for separately.
CAPIT AL PROJECTS FUND - the fund' used to account for financial resources to be used for the
acquisition or construction of major capital facilities.
DEBT SERVICE FUND - the fund used to account for the accumulation of resources for, and the payment
of, general long-term principal, interest and paying agent fees.
FIDUCIARY FUND TYPES - the trust and agency funds used to account for assets held by a government
unit in a trustee capacity or as an agent for individuals, 'private organizations, other government units and/or
other funds. These funds include:
EXPENDABLE TRUST FUNDS
Davidson Trust Fund - the fund used to account for the principal and earnings which may be expended
to provide financial assistance to needy students of Davidson Fine Arts Magnet School.
Nora CoxweU Scholarsll1ip Fund - the fund used to account for the principal and earnings which may be
expended 'to provide scholarships for selected students.
- 9 -
RICHMOND COUNTY BOARD OF EDUCATION' EXHIBIT "0"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Robetta McKenzie Scholarship Fund - the fund used to account for the principal and earnings which may.
be expended to provide scholarsl:1ips for selected students. "
AGENCY FUNDS - the funds used to account for assets held for other funds, governments, or individuals.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT. ACCOUNT GROUP - used to account for general obligation bonds
outstanding, material accrued comp~nsated absences and material capital lease obligations.
BASIS OF ACCOUNTING
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus.
All governmental and expendable trust ,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., e~penditures and other financing uses) in riet current assets. Their
reported fund balance is considered a measure of available spendable resources.
Liabilities 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.
Agency funds are purely custodial'in nature and do not involve measurement of results of operations.
Governmental and expendable trust funds are accounted for using the modified accrual basis of accounting
under which:
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available).
"Measurable" means the amount of the transaction can be determined arid "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.
Expenditures are generally recognized when the related fund liability is i~cu~red.
A 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 Ge'orgia Department of
Education for the State's share of these contracts. During fiscal year 1996, a substantial number of personnel
of the Board were employed for a o-ne 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
- 10 -
RICHMOND COUNTY BOARD OF EDUCATION EXHillIT "D"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30.1996
Note 1: SUM:MARY OF SIGNIFICANT ACCOUNTING POLICIES
in twelve equal monthly payments beginning in September 1995 and ending in August 1996. State grants to
fund the State's share of these contracts were disbursed from the Georgia Department of Education to the
Board in the same twelve months: As of June 30, 1996, compensation under these employment contracts had
been earned, but two of the twelve monthly payments, due for July and August 1996, had not been made.
Payments for these two months were made and recorded as expenditures by the Board subsequent to
June 30, 1996. Also, the State's portion of the compensation paid in July and August 1996 was received and,
recorded as revenue in the fiscal year subsequent to June 30, 1996. Conversely, the similar expenditures and
related revenues for contractual services completed prior to June 30, 1995, were recorded in the year ended
June 30, ,1996. Generally accepted accounting principles require that revenues be recorded when available and
measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed.
Agency funds are accounted for using the modified accrual basis of accounting in recognizing assets and
liabilities.
BUDGET
The Richmond County Board of Education's budget is a complete financial plan for the Board's fiscal year and
is based upon estimates of expenditures together with probable' funding sources. There is no statutory
prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is
prepared by fund, function and object. The legal level of budget control was established by the Board at the
fund type level. The budget for governmental funds was prepared on a basis other than generally accepted
accounting principles.
The budget process begins when the Board's administration prepares a tentative budget for the Board's
approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a
newspaper of general circulation in the locality. At the next regular meeting of the Board after advertisement,
the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school
budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act,
OCGA Section 20-2-167, to the Georgia Department of Education . The Board may increase or decrease the
budget at any time during the year. All unexpended budget authority lapses at fiscal year-end.
The Statement of Revenues, 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:
- 11 -
RICHMOND COUNTY BOARD OF EDUCATION EXHIBIT "D"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
FUND BALANCE JULY 1, 1995
Adjustments ' ,
Inventories - July 1, 1995
Consumable Supplies '
Food
Donated Commodities
Purchased Foods
Encumbrances - July 1, 1995
Fund Balance July 1, 1995 (Budget Basis)
Excess of Revenues and Other Financing Sources
over (under) Expenditures and Other Financing Uses
Encumbrances
July 1, 1995 ,
June 30, 1996
Excess of Revenues and Other Financing Sources
over (under) Expenditures and Other Financing Uses
(Budget Basis)
Residual Equity Transfers
FUND BALANCE JUNE 30, 1996 (Budget Basis)
CASH AND CASH EQUIVALENTS
General
Fund
Special
Revenue
Fund
$23,310,470.73 $ 4,327,786.48
-795,141.50
-554,743.70
-144,266.29
-341.605.72 -113.126.84
$22.173.723.51 $ 3.515.649.65
$ -1,508,789.21 $ -190,583.22
341,605.72 113,126.84
-782.611.49 -139.468.73
$-1.949.794.98 $ -216.925.11
$ 651.697.26
$20.87562579 $ 3 298.724.54
COMPOSITION OF DEPOSITS
Cash and cash equivalents consist of deposits (including ,certificates of deposit and N.O.W. accounts) in
authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent
banks, insured Federal savings and loan aSsociations, or insured State chartered building and loan associations.
The placement of proceeds from bond issues in certificates of deposit is limited to financial institutions located
within this State.
INVESTMENTS
COMPOSITION OF INVESTMENTS
Investments made by the Board are stated at cost. Donated investments are stated at fair market value as of
the date donated. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest
its funds. In selecting among avenues of investment or among institutional bids for deposits, the highest rate
of return sha1l be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in
the following:
- 12 -
RICHMOND COUNTY BOARD OF EDUCATION EXHIBIT "0"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) Obligations issued by the State of Georgia or by other states,
(2) Obligations issued by the United States government,
(3) Obligations fully insured or ,guaranteed by the United States government or a United States
government agency,
(4) Obligations of any corporation of the United States government,
(5) Prime banker's ,acceptances,
(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury
and Fiscal Services,
(7) Repurchase agreements, and
'(8) Obligations of other political subdivisions of the State of Georgia.
RECEIVABLES
Receivables 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
financial statements do not include any amounts which would necessitate the need for an allowance for
uncollectible receivables.
PROPERTY TAXES
The Augusta - Richmond County Commission- Council fixed the property tax levy for the 1995 tax year
(calendar year) on September 5, 1995 (levy date). Taxes were dueon November 30, 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 P70.1 03. The Augusta - Richmond County Tax Commissioner bills and collects the property taxes
for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance
of taxes collected to the Board. In addition, the Clerk of the Superior Court of Richmond County collects
recording taxes for the Board of Education, withholds 6% of taxes collected as a fee for tax collection, and
remits the balance of taxes collected to the Board.
Tax millage rates levied for the 1995 tax year (calendar year) for the Richmond County Board of Education
were as follows (a mill equals $1 p~rthousand dollars of assessed value):
- 13 -
RICHMOND COUNTY BOARD OF EDUCATION EXIllBIT "0"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
School Operations
School Bonds
18.61 mills
~ mills
19 57 mills
INVENTORIES
CONSUMABLE SUPPLIES
Inventories of athletic, custodial and instructional supplies are recorded as expenditures under the consumption
method and are valued at cost (weighted average). These inventories are recorded as assets at the time of
purchase. Inventories of maintenance 'and transportation supplies are reCorded as expenditures at the time of
purchase and are valued on the Combined,Balance Sheet at cost (weighted average). Inventories reported on
the balance sheet are equally offset by a reservation of fund balance which indicates that these amounts do, not
constitute "available spendable resources" even though they are a component of net current assets.
FOOD INVENTORIES
Inventories of donated food coinmodities 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 ate 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.
COMPENSA TED ABSENCES
Compensated absences represent obligations of the Board relating to employees' rights to receive
compensation for future absences based upon service already rendered. This obligation relates only to vesting
accumulating leave in which payment is probable and can be reasonably estimated. No liability has been
recorded in the individual funds for the current portion of this obligation as this amount is deemed immaterial
to the general purpose financial statements.
GENERAL OBLIGA TIONBONDS
The 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. In addition, general obligation bonds have been issued to refund existing general
obligation bonds. General obligation bonds are direct obligations and pledge the full faith and credit of the
- 14 -
RICHMOND COUNTY BOARD OF EDUCATION EXHIBIT "D"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account
Group.
RESERVED FUND BALANCE
ReserVe for Encumbrances - This reseIVe constitutes the unperformed portion of purchase orders, contracts
and other commitments for goods and services at year end. Encumbrances outstanding are reported as a
reservation of fund balance and do not constitute expenditures or liabilities in the current year because the
commitments will be honored during the subsequent year.
INTERFUND TRANSACTIONS
The Board has the following types of interfund transactions:
Reimbursements 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.
Residual equity transfers are recorded for nonrecurring or nonroutine permanent transfers of equity.
Operating transfers are recorded for all interfund transactions other than residual equity transfers and
reimbursements.
MEMORANDUM ONLY - TOTAL COLUMNS
Total columns on the general purpose financial statements are captioned "Memorandum Only" to indicate that
they are presented only to facilitate financial analysis. Data in these columns do not present financial position
or results of operations in conformity with generally accepted accounting principles. Neither are such data
comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
. Certain reclassifications have been made to the comparative data to conform to the current year classifications.
DEFICIT FUND BALANCE
Funds reporting a deficit fund balance position at June 30, 1996, which are not readily apparent on the general
purpose financial statements are as follows: -
Fund TypelFund Name
Deficit Balance
Governmental Fund Type - Capital Projects Fund
1997 Bond Issue Fund
$ -12,960.70
- 15 -
RICHMOND COUNTY BOARD OF EDUCATION EXIllBIT ".0"
NOTES TO THE,GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 2: DEPOSITS AND INVESTMENTS
COLLATERALIZATION 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 shall be equal to not less than 110 percent of the public funds being secured
after the deduction of the amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding
public funds may, in his discretion, waive the requirement for security in the case of operating funds placed
in demand deposit checking accounts.
Acceptable security for deposits consists of anyone of or any combination of the following:
(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the
State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of
the State of Georgia, '
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities
of the State of Georgia,
(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute
that created the authority authorized the use of the bonds for this purpose,
(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of
Georgia, and
(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.
CATEGORIZATION OF DEPOSITS
At June 30, 1996, the bank balances were $26,831,254.79. The amounts of the total bank balances are
classified into three categories of credit risk:
Category 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.
- 16 -
.RICHMOND COUNTY BOARD OF EDUCATION .EXHIBIT liD"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 2: DEPOSITS AND INVESTMENTS
Category 2 - Cash collateralized with securities held by the pledging financial. institution's trust
. department or agent in the Board's name.
Category 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.)
The Board's deposits are classified by risk category at June 30, 1996, as follows:
Risk Category
Bank Balance
1
'2
3
$ 400,321.20
14,899,753.30
11.531.180.29
Total
$26.831.254.79
CATEGORIZATION OF INVESTMENTS
Investments are classified as to risk by the three categories described below:
Category 1 - Insured or registered, or securities held by the Board or the Board's agent in the Board's
name.
Category 2 - Uninsured orunregistered, with securities' held by the counterparty's trust department or
agent in the Board's name.
Category 3 - Uninsured or unregistered, with securities held by the counterparty, or by its trust
department or agent but not in the Board's name.
Funds 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.
At June 30, 1996, the carrying amount of the Board's total investments was $7,300,504.60 and the market
value of these investments, excluding investments in the amount of $6,984,853.10 in the State of Georgia,
Local Government Investment Pool, was $398,276.96. The investments are classified as to risk categories
as follows: .
Tvoe of In vestment
Risk Catel!ories
2
3
Carrying
Amount
Market
Value
Common Stock
$ 31565150 $
000 $
o 00 $ 315,651.50 $ 398276 96
Local Government
Investment Pools
6.984.853.10
.
Total Investments
$7 300 504 60
· Undeterminable
- 17 -
RICHMOND COUNTY BOARD OF EDUCATION EXHIBIT "D"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 2: DEPOSITS AND INVESTMENTS
The 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 of Georgia,. Office of Treasury and Fiscal Services for the Local Government
Investment Pool does not provide for investment in derivatives or similar investments.
Note 3: NON-MONETARY TRANSACTIONS
The 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
Note 4: INTERFUND ASSETS AND LIABILITIES
Due to and due from other funds are recorded for interfund receivables and payables which arise from
interfund transactions. The following analysis summarizes the status of all interfund transactions of the Board
at June 30, 1996:
Due From
Other Funds
Due To
Other Funds
General Fund
Capital Projects Fund
1997 Bond Issue Fund
$ 125,000.00
$ 125.000.00
$ 125.00000 $ 12500000
Note 5: RISK MANAGEMENT
The 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.
The Board has obtained commercial insurance for risk of loss associated with torts, assets and errors or
omissions. The Board has neither significantly reduced coverage for these risks nor incurred losses
(settlements) which exceeded the Board's insurance coverage in any of the past three years.
The 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.
- 18 -
RICHMOND COUNTY BOARD OF EDUCATION EXIllBIT "D"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
.JUNE 30. 1996
Note 5: RISK MANAGEMENT
The Board has established a limited risk management program for workers' compensation claims. The Board
accounts for all claims except School Food Services Fund claims within the General Fund with expenditure
and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be
reasonably estimated. These losses may include an estimate of claims that have been incurred but not reported.
An excess coverage insurance policy covers individual claims in excess of $225,000.00 loss per occurrence,
up to the statutory limit.
Changes in the workers' compensation claims liability during the last two fiscal years are as follows:
Beginning Claims and
of Year Changes in Claims End of Year
Liability Estimates Paid Liability
1995 $ 0.00 $ 40 1.531.02 $ 401.531.02 $ .0.00
1996 $ 0.00 $ 489.935.02 $ 489.935.02 $ 0.00
The Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims
within the General Fund with expenditure and liability being reported when it is probable that a loss has
occurred, and the amount of that loss can be reasonably estimated.
Changes in the unemployment compensation claims liability during the last two fiscal years are as follows:
Beginning Claims and
of Year Changes in Claims End of Year
Liabilitv Estimates Paid Liabilitv
1995' $ 0.00 $ 39.664.59 $ 39.664.59 $ 0.00
1996 $ 0.00 $ 28.831.02 $ 20.946.84 $ 7.884.18
Note 6: GENERAL LONG-TERM DEBT
CAPITAL LEASES
The Richmond County.Board of Education has entered into various lease agreements as lessee for school
buses, operating vehicles and office equipment. These lease agreements qualify as capital leases for accounting
purposes and, therefore, have been recorded at the present value of the future minimum lease payments as of
the date of their inception. -
the Richmond County Board of Education entered into a lease agreement on April 1, 1994, with Richmond
County Public Facilities, Incorporated (RCPF), forthe acquisition and construction of school facilities. Under
the terms of the lease agreement, the Board will make semi-annual payments through November 1, 2009.
- 19 -
RICHMOND COUNTY BOARD OF EDUCATION EXHIBIT "D"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 6: GENERAL LONG-TERM DEBT
GENERAL OBLIGATION BONDS OUTSTANDING
General Obligation Bonds currently outstanding are as follows:
Purpose
Interest Rates.
Amount
General Government - Refunding - Series 1993
General Government - Refunding - Series 1991
3.4% -4.7%
5.4% - 6.3%
$17,720,000.00
7.015.000.00
$24 735 000 00
The changes in General Long-Term Debt during the fiscal year ended June 30, 1996, were as follows:
Geneml
Caoital Leases Compensated Obligation
RCPF Other Absences Bonds Total
BalanCe July 1, 1995 $13,470,000.00 $ 1,569,723.89 $ 689,740.33 $26,420,000.00 $42,149,464.22
Retroactive Restatement of Prior
Y car Balances 5.547.10 . 5.547.10
Balance July 1, 1995
Restated $13,470,000.00 $ 1,575,270.99 $ 689,740.33 $26,420,000.00 $42,155,011.32
Additions 6,675.00 6,675.00
Annual Leave Earned and
Utilized (Net) 65,517.20 65,51720
Deductions
Payments 625.000.00 757.782.49 1.685.000.00 3.067.782.49
Balance June 30, 1996 $1284500000 $ 824 16350 $ 755257 53 $24 735 000 00 $3915942103
At June 30, 1996, payments due, by fiscal year which includes principal and interest for these items are as
follows:
RICHMOND COUNTY BOARD OF EDUCATION EXHIBIT liD"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30.1996
Note 6: GENERAL LONG-TERM DEBT
Voters have authorized $115,000,000.00 in general obligation debt which was not issued as of June 30, 1996,
for the purpose of acquiring, constructing, and equipping school buildings and other buildings, structures, and
facilities useful or desirable in connection therewith, adding to, repairing, renovating, improving, and equipping
existing buildings, structures, and facilities of the district, acquiring the necessary property therefor, both real
and personal, and to pay expenses incident to accomplishing the foregoing.
Note 7: PRIOR YEAR DEFEASEMENT OF DEBT
In fiscal year 1991, the Board defeased certain general obligation bonds by placing the proceeds of new bonds
in an irrevocable trust to provide for all future debt service payments on the old bonds. Accordingly, the trust
account assets and the liability for the defeased bonds are not included in the Board's general purpose financial
statements. During fiscal year 1996, the balance of bonds defeased in fiscal year 1991 were retired.
Note 8: ON-BEHALF PAYMENTS
The Board has recognized revenues and expenditures in the amount of$3,230,239.60 for health insurance and
retirement contributions paid on the Board's behalf by the following State Agencies as follows:
Georgia Department of Education
Paid to the State Merit System of Personnel Administration
For Health Insurance of Non-Certified Personnel
In the amount of$2,638,645.01
Paid to the Teachers Retirement System of Georgia
For Teachers Retirement System (TRS) Employer's Cost
In the amount of$186,220.59
Office 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$40S,374.00
Note"9: SIGNIFICANT COMMITMENTS
(
The following is an analysis of significant outstanding construction or renovation contracts executed by the
Board as of June 30, 1996, together with funding- available:
- 21 -
RICHMOND COUNTY BOARD OF EDUCATION EXIllBIT liD"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30.1996
Note 9: SIGNIFICANT COMMITMENTS
Unearned Funding
Executed Available
Proiect Contracts From State
95/94S-72 1-049 $ 1,591,347.87 $ 0.00
96/95S-721-063/96-721-059 5.367.960.00 1. 774. 737.00
$ 6.959.307.87 $ 1 774.737.00
The amounts described in this note are not reflected in the general purpose financial statements.
Note 10: CONTINGENT LIABILITIES
Amounts 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.
A liability has not been reported by the Board for the unpaid portion of workers' compensation losses incurred
as of June 30, 1996. An estimate oft~e amount ofloss cannot be determined but it is probable that claims will
be asserted and the Board will incur a loss.
Note 11 : ACCUMULATED EMPLOYEES' LEA VB
Administrative and other clerical personnel earn two days of vacation leave each month with a maximum
accumulation of twenty-four days less required vacation days to be taken during the year. Maintenance and
other twelve-month employees earn vacation leave ranging from ten days to twenty-two days per year
depending upon the employee's length of service with a maximum accumulation of 22 days. Vacation leave
vests with the employee and unused accumulated vacation leave up to the maximum accumulation is paid at
the current rate of pay, to employees upon retirement or termination of employment. See Note 1 -
Compensated Absences
The Board also has an attendance incentive program that provides for payments not to exceed 20% of the
employee's daily rate of pay based on days absent from work. No liability has been recorded for the June 30,
1996, attendance incentive liability as this amount is deemed immaterial to the general purpose financial
statements.
- 22 -
RICHMOND COUNTY BOARD OF EDUCATION EXHIBIT "D"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30. 1996
Note 12: RETIREMENT PLANS
TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)
TRS 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).
TRS 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 of the member's monthly pension at a reduced
rate to a designated beneficiary on the member's death.
Retirement benefits also include death and disability benefits. A disabled member or surviving spouse is
entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement,
whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had
the member retired on the date of death on either a service retirement allowance or a disability retirement
allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years
of service) and compensation up to the time of disability or death.
Members 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.
The Board's payroll for employees covered by TRS for the year ended June 30, 1996, was $96,727,244.30;
total payroll was $114,805,605.07.
TRS CONTRIBUTIONS REQUIRED AND MADE
Employees of the Board who are covered by TRS are required by State statute to contribute 5% of their gross
earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS
Board of Trustees in accordance with State statute and as advised by their independent actuary. For fiscal year
1996 that rate for employer contributions was 11. 81 %. The interest rate assumption (rate of return on
investments) was 7.50%.
Total contributions made during fiscal year 1996 amounted to $16,259,869.22, of which $11,423,487.55 was
made by the Board and $4,836,381.67 was made by employees. These contributions represented 11.81%
(Board) and 5% (employees) of covered payroll.
- 23 -
RICHMOND COUNTY BOARD OF EDUCATION EXHIBIT "D"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30.1996
Note 12: RETIREMENT PLANS
TRS FUNDING STATUS AND PROGRESS
The amount of the total pension benefit obligation is based on a standardized measurement established by
Statement No.5 of the Governmental Accounting Standards Board (GASB) that, with some exceptions, must
be used by a PERS. The standardized measurement is the actuarial present value of credited projected
benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in
future years as a result of employee services performed to date, and is adjusted for the effects of projected
salary increases. A standardized measure of the pension benefit obligation was adopted by the GASB to enable
readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess
progress made in accumulating sufficient assetsto pay benefits when due, and make comparisons among other
PERS and among other employers.
Total unfunded pension benefit obligation ofTRS as ofJune 30, 1995, was as follows:
Total pension benefit obligation
$17,442,607,000.00
Net assets available for benefits, at cost
15.857.066.000.00
Unfunded pension benefit obligation
$ 1.585.541 000 00
The measurement of the total pension benefit obligation is based on an actuarial valuation as of June 30, 1995.
Net assets available to pay pension benefits were valued as of the same date. " TRS does not make separate
measurements of assets and pension benefit obligation for individual employers.
Total contributions from all employers to TRS for fiscal year ended June 30, 1996 were $607,275,000.00.
The Board's contribution for the year ended June 30, 1996 of$II,423,487.55 was actuarially determined and
represented 1.88% of total contributions made by all participating employers.
Ten 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.
PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS)
PSERS PLAN DESCRIPTION
Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school
systems are covered by the Public School Employees Retirement System of Georgia (PSERS). All employer's
contributions are made by the State of Georgia in accordance with State statute.
PSERS 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
- 24 -
RICHMOND COUNTY BOARD OF EDUCATION EXHIBIT "D"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30.1996
Note 12: RETIREMENTPLANS
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.
Retirement provisions include death and disability benefits. Disability benefits are the same as if the employee
had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are
dependent upon the number of years of service. If there are less than ten years of service, a Jump sum refund
of the employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of
service, the beneficiary shall receive for life half of what the employee would have received upon retirement.
Members 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.
There were 1,005 employees covered under PSERS for the year ended June 30, 1996.
PSERS CONTRIBUTIONS REQUIRED AND MADE
Covered employees are required by State statute to contribute $4.00 a month for the nine month school year.
Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make
employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees.
Total contributions from employees of the Board made during fiscal year 1996 amounted to $33,648.00. 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.
Note 13: SURETY BONDS
The School Superintendent, Dr. Charles G. Larke, is bonded in the amount of$50,000.00 with the Fidelity
and Deposit Company of Maryland, Baltimore, Maryland, their Bond No. 30091978, on which premium is
paid to July 1, 1997.
I
- 25 -
~
Cash and Cash Equivalents
Accounts Receivable
Inventories
Consumable Supplies
Food
Donated Commodities
Purchased Food
Total Assets
See notes to the general purpose financial statements.
RICHMOND COUNTY BOARD OF EDUCATION
. COMBINING BALANCE SHEET
SPECIAL REVENUE FUND
JUNE 30 1996
SCHOOL STATE
FOOD PRESCHOOL
SERVICES LOTTERY HANDICAPPED
FUND PROGRAMS PROGRAM
$ 2,718,365.64 $ 0.00
1,266.834.32 $ 1,355,146.81
428,532.26
160,708.01
$ 4,574,440.23 $ 1,355,146.81 $
0.00
.26.
ELEMENTARY AND SECONDARY EDUCATION ACT
TITLE I
EDUCATION OF GRANTS TO
CHilDREN' lOCAL
IN STATE EDUCATIONAL
SCHOOLS AGENCIES
$ 0.00
$ 1,800,832.94 $
$
0.00 $ 1,800.832.94 $
TITLE II
EISENHOWER
PROFESSIONAL
DEVELOPMENT.
83,931.41 $
83,931.41 $
FOREIGN
LANGUAGES
ASSISTANCE
9,894.03 $
9,894.03 $
TITLE VI
INNOVATIVE
EDUCATION
PROGRAM
STRATEGIES
INDIVIDUALS WITH
DISABILITIES EDUCATION ACT
PART B
SPECIAL EDUCATION
FLOW
THROUGH PRESCHOoL
EXHIBIT "E"
Page 1
ALTERNATIVE
SCHOOL
PROGRAM
156,578.25 $ 221,972.56 $
39,949.80 $ 163.317.99
156,578.25 $ 221.972.56 $
39,949.80 $ 163,317.99
0.00 $
0.00 $
$ 1,232,908.68 $ 83.911.57 $ 9.894.03 $ 138,737.28 $ 145,482.45 $ 16,683.76 $ 163,317.99
125,726.56 3,627.23 16,212.88 5,On. 70
442,197.70 14,213.74 60.2n.23 18.188.34
$ 1 ,800,832.94 $ 83,911.57 $ 9,894.03 $ 156.578.25 $' 221,972.56 $ 39,949.80 $ 163.317.99
$
0.00 $
$
0.00 $
$
0.00 $ 1,800,832.94 $
$ 19.84
$ 19.84
0.00
0.00 $
19.84 $
83.931.41 $
0.00 $
0.00 $
0.00 $
9,894.03 $
.27 -
0.00 $
0.00 $
156.578.25 $ 221,972.56 $
39.949.80 $ 163,317.99
0.00 $
0.00 $
0.00
0.00
See notes to the general purpose financial statements.
RICHMOND COUNTY BOARD OF EDUCATION
COMBINING BALANCE SHEET
SPECIAL REVENUE FUND
JUNE 30. 1996
- 28-
EXHIBIT "E"
Page 2
SAFE EDUCATION FOR
SAND HILLS AND HOMELESS VOCATIONAL JOB TRAINING
PSYCHOED DRUG-FREE CHILDREN EDUCATION PARTNERSHIP TOTALS
. CENTER SCHOOLS AND YOUTH FEDERAL ACT JUNE 30,1996 JUNE 30, 1995
$ 2,936,548.16 $ 4,266,110.78
$ 403.227.17 $ 445,920.33 $ 7,073.19 $ 287,041.90 $ 56,411.68 6,418,757.65 1,995,528.91
24,974.11 29,483.12
428,532.26 554,743.70
160,708.01 144,266.29
$ 403,227.17 $ 445.920.33 $ 7,073.19 $ 287,041.90 $ 56,411.68 $ 9,969.520.19 $ 6.990,132.80
$ 154,969.81 $
55,293.28
192,964.08
$ 403,227.17 $
427,201.33 $
3,871.87
14,847.13
445,920.33 $
7,073.19 $ 287,041.90 $ 56,411.68 $ 3,803,246.72 $ 940.031.95
431,250.48 357,165.78
1,707,589.45 1 ,365,148.59
7,073.19 $ 287,041.90 $ 56,411.68 $ 5,942,086.65 $ 2,662,346.32
$ 19.84 $ 903.24
142,373.49 116,679.48
24,974.11 29,483.12
428,532.26 554,749.06
160,708.01 144.266.29
$ 756,607.71 $ 846.081.19
$ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 3,270,825.83 3,481,705.29
$ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 4,027,433.54 $ 4,327,786.48
56,411.68 $ 9.969.520.19 $ 6.990,132.80
$ 403,227.17 $ 445,920.33 $
7,073.19 $ 287,041.90 $
- 29.
RICHMOND COUNTY BOARD OF EDUCATION
COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
SPECIAL REVENUE FUND
YEAR ENDED JUNE 30 1996
See notes to the general purpose financial statements.
- 30.
EXHIBIT oF"
Page 1
ELEMENTARY AND SECONDARY EDUCATION ACT
TITLE I
EDUCATION OF GRANTS TO
CHILDREN LOCAL
IN STATE EDUCATIONAL
SCHOOLS AGENCIES
TITLE II
EISENHOWER
PROFESSIONAL
DEVELOPMENT
FOREIGN
LANGUAGES
ASSISTANCE
TITLE VI
'INNOVATIVE
EDUCATION
PROGRAM
STRATEGIES
INDIVIDUALS WITH
DISABILITIES EDUCATION ACT
PART B
SPECIAL EDUCATION
FLOW
THROUGH PRESCHOOL
ALTERNATIVE
SCHOOL
PROGRAM
$
14,850.00 $ 5,179,821.33 $
167,153.26 $
10,468.51 $
268,013.00 $ 781.381.70 $
$ . 163,317.99
147,023.98
$
14,850.00 $ 5,179,821.33 $
167,153.26 $
10,468.51 $
268,013.00 $ 781,381.70 $
147,023.98 $ 163,317.99
$ 14,839.00 $ 4,025,647.24 $ 1,939.54 $ 21,613.43 $ 50,961.18 $ 330,995.99 $ 142,603.98 $ 104,913.91
264,676.09 85,595.67 313,184.30 1,381.90
312,951.39 161,444.04 119,503.96
11.00 242,053.69 3,749.84 130,134.34 17,697.45 3,038.10 58,404.08
49,514.17 581.81
15,315.50 740.00
218,166.08
49.096.36
2,400.81
$ 14,850.00 $ 5,179.821.33 $ 167,133.42 $ 21,613.43 $ 268,013.00 $ 781,381.70 $ 147,023.98 $ 163,317.99
$ 0.00 $ 0.00 $ 19.84 $ .11.144.92 $ 0.00 $ 0.00 $ 0.00 $ 0.00
10,241.68
$ 0.00 $ 0.00 $ 19.84 $ -903.24 $ 0.00 $ 0.00 $ 0.00 $ 0.00
0.00 0.00 0.00 903.24 0.00 0.00 0.00 0.00
$
0.00$
0.00 $
19.84 $
0.00 $
0.00 $
0;00 $
0.00 $
0.00
.31 -
RICHMOND COUNTY BOARD OF EDUCATION
COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES
SPECIAL REVENUE FUND
YEAR ENDED JUNE 30 1996
GEORGIA
DELINQUENCY LEARNING
ATHLETIC PREVENTION RESOURCES
FUND PROGRAM SYSTEM
REVENUES
State Funds $ 46,958.46 $ 81.930.00
Federal Funds 47,822.56 186,607.55
Taxes and Other Funds $ 380,478.21
Total Revenues $ 380,478.21 $ 94,781.02 $ 268,537.55
EXPENDITURES
Current
Instruction $ 24,938.29
Support Services
Pupil Services $ 86,228.34
Improvement of Instructional Services 47,612.83
Educational Media Services 14,639.36
General Administration 119,470.07
Business Administration
Maintenance and Operation of Plant $ 40,439.73 1,950.00 586.95
Student Transportation Services
Other Support Services 150.12 67,892.73
Food Services Operation
Other Operations of Non-Instructional
Services 468,287.10
Capital Outlay
DebtServica
Principal
Interest
Total Expenditures $ 506.676.95 $ 94,761.02 $ 266,537.55
Excess of Revenues over (under) Expenditures $ .126,396.74 $ 0.00 $ 0.00
OTHER FINANCING SOURCES
O~rating Transfers In 198,469.86
Excess of Revenues and Other Financing Sources
over (under) Expenditures $ 70.091.12 $ 0.00 $ 0.00
FUND BALANCE JULY 1 172,196.11 . 0.00 0.00
Food Inventory - Net Change in Period
Donated Commodities
Purchased Food
Residual Equity Transfer
FUND BALANCE JUNE 30 $ 242,267.23 $ 0.00 $ 0.00
See notes to the general purpose financial statements.
- 32-
EXHIBIT oF"
Page 2
SAFE EDUCATION FOR
SAND HILLS AND HOMELESS VOCATIONAL JOB TRAINING TOTALS
PSYCHOED DRUG-FREE CHILDREN EDUCATION PARTNERSHIP YEAR ENDED
CENTER SCHOOLS AND YOUTH FEDERAL ACT JUNE 30, 1996 JUNE 30, 1995
$ 1,811.035.00 $ 8,793,907.15 $ 6,442,323.51
237,402.69 $ 4n,637.4O $ 12,076.53 $ 354,715.95 $ 166,964.55 16,969,899.39 15,525,473.57
3,108,514.96 2,940,847.23
$ 2,048,437.69 $ 4n,637.4O $ 12,076.53 $ 354,715.95 $ 166,964.55 $ 28,8n,321.5O $ 24,908,644.31
$ 1,012,353.97 $ n,037.34 $ 5.712.56 $ 558,498.95 $ 139,302.30 $ 11,370.297.59 $ 7,803,189.61
635,154.29 362,616.62 3,260.52 2,025,464.37 1,458,850.12
169,093.34 18,436.91 864,958.20 764,604.60
14,639.36 992,135.72
138,485.18 9,n4.13 289.95 12,269.47 752,542.35 659,286.87
2,438.27
93,350.91 15,392.78 865,548.21 1,145,352.70
9,822.40 2,813.50 85,158.40 20,914.45
289.285.58 206,692.13
12,690,879.66 11 ,425,438.31
468,287.10 516,353.85
64,885.30
49.096.36 46,807.47
2.400.81 4,689.70
$ 2,048,437.69 $ 477,637.40 $ 12,076.53 $ 558,498.95 $ 166,964.55 $ 29,480,996.26 $ 25,109,200.83
$ 0.00 $ 0.00 $ 0.00 $ -203,783.00 $ 0.00 $ -608,674.76 $ -200,556.52
203,783.00 418,091.54 170,385.00
$ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ .190,583.22 $ .30,171.52
0.00 0.00 0.00 0.00 0.00 4,327,786.48 4,239,964.61
-126,211.44 74,082.14
16,441.72 43,911.51
-0,26
$ 0.00 $ 0.00 $ ,0.00 $ 0.00 $ 0.00 $ 4,027,433.54 $ 4,327.786.48
- 33-
RICHMOND COUNTY BOARD OF EDUCATION
COMBINING BALANCE SHEET
CAPITAL PROJECTS FUND
JUNE 30.1996
REGULAR
1997
BOND ISSUE
FUND
GEORGIA STATE FINANCING
PROJECT
95/94S-721-050
96-721-058
ASSETS
PROJECT
95/94S-721-049
Cash and Cash Equivalents
$ 252,444.12 $ 112,039.30 $ 1,465,883.26
Investments
Accounts Receivable
382,867.00 $
115,179.00
Total Assets
$ 252,444.12 $ 112,039.30 $ 1,848,750.26 $
115,179.00
LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft $ 115,179.00
Accounts Payable $ 752.13
Contracts Payable 892,167.05
Retainages Payable 955,831.08
Deferred Revenue $ 25,000.00
Due to Other Funds $ 125,000.00
Total Liabilities $ 25,000.00 $ 125,000.00 $ 1 ,848,750.26 $ 115,179.00
FUND EQUITY
Fund Balances
Reserved
For State Capital Outlay Projects
Unreserved
Deficit $ -12,960.70
Undesignated $ 227,444.12 $ 0.00 $ 0.00
Total Fund Equity $ 227,444.12 $ -12,960.70 $ 0.00 $ 0.00
Total Liabilities and Fund Equity
$ 252,444.12 $ 112,039.30 $ 1,848,750.26 $
115,179.00
See notes to the general purpose financial statements.
- 34-
AND INVESTMENT COMMISSION
PROJECT
95/945-721-051
PROJECT
96-721-059
$
289,689.98 $ 482,084.74 $
$
289,689.98 $ 482,084.74 $
$
289,689.98 $482,084.74 $
$
289,689.98 $ 482,084.74 $
$
289,689.98 $ 482,084.74 $
LOTTERY
PROJECT
96/955-721-063
121,586.00 $
121,586.00 $
121,586.00
121,586;00 $
121,586.00 $
LOCAL
ASSISTANCE
GRANT
PROJECT
95-C-L-73
0.00 $
0.00 $
$ 0.00 $
0.00 $
0.00 $
- 35-
EMERGENCY
FUND
GRANT
PROJECT
96-E05-66
EXHIBIT "G"
TOTALS
JUNE 30,1996 JUNE 30,1995
0.00 $ 2,723,727.40 $ 3,611,790.32
664,000.00
498,046.00
612,981.86
0.00 $ 3,221,773.40 $ 4,888,772.18
$ 115,179.00 $ 3,800.00
752.13
892,167.05 133,695.09
955,831.08 198,147.55
25,000.00
125,000.00
$ 2,113,929.26 $ 335,642.64
$ 893,360.72 $ 3,167,719.45
-12,960.70
0.00 227 ,444.12 1,385,410.09
0.00 $ 1,107,844.14 $ "4,553,129.54
0.00 $ 3,221,773.40 $ 4,888,772.18
RICHMOND COUNTY BOARD OF EDUCATION
COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND
YEAR ENDED JUNE 30. 1996
GEORGIA STATE FINANCING
1997 PROJECT
BOND ISSUE PROJECT 95/94S-721-050
REGULAR FUND 95/94S-721-049 96-721-058
REVENUES
State Funds $ 0.00 $ 3,325,455.77 $ 191,709.81
Taxes and Other Funds $ 500.00
Total Revenues $ 500.00 $ 0.00 $ 3,325,455.77 $ 191 ,709.81
EXPENDITURES
Current
Support Services
Business Adrninistration
Travel $ 234.45
Capital Outlay
Land and Land Improvements $ 17,664.00
Building and Building Improvements 12,726.25 $ 9,286,501.12 $ 993,392.96
Total Expenditures $ 17,664.00 $ 12,960.70 $ 9,286,501.12 $ 993,392.96
Excess of Revenues over (under) Expenditures $ -17,164.00 $ -12,960.70 $ -5,961 ,045.35 $ -801,683.15
OTHER FINANCING SOURCES (USES)
Operating Transfers In $ 4,783,082.49
Ope'rating Transfers Out $ -652,463.00
Total Other Financing Sources (Uses) $ -652,463.00 $ 4,783,082.49
Excess of Revenues and Other Financing Sources
over (under) Expenditures and Other Financing
Uses $ -669,627.00. $ -12,960.70 $ -1,177,962.86 $ -801,683.15
FUND BALANCE JULY 1 1,385,410.09 0.00 1,177,962.86 965,041.44
Residual Equity Transfer -488,338.97 -163,358.29
FUND BALANCE JUNE 30
$
227,444.12 $ -12,960.70 $
0.00 $
0.00
See notes to the general purpose financial statements.
- 36-
EXHIBIT "H"
PROJECT PROJECT
951948-721-051 96-721-059
LOTTERY
PROJECT
96195S-721-063
LOCAL
ASSISTANCE
GRANT
PROJECT
95-C-L-73
EMERGENCY
FUND
GRANT
PROJECT
96-E05-66
TOTALS
YEAR ENDED
JUNE 30, 1996 JUNE 30,1995'
AND INVESTMENT COMMISSION
$
5,427.48 $
$
34,709.59
0.00 $
200.00 $
20,000.00 $
3,537,365.58 $
40,637.07
1,761,805.23
39,940.54
$
5,427.48 $
34,709.59 $
0.00 $
200.00 $
20,000.00 $
3,578,002.65 $
1,801,745.77
$ 0.00 $ 234.45
$ 11,441.50 $ 9,650.00 $ 77,721.56 116,477.06 $ 346,816.03
150,400.00 $ 200.00 10,443,220.33 3,278,958.93
$ 11,441.50 $ 160,050.00 $ 0.00 $ 200.00 $ 77,721.56 $ 10,559,931.84 $ 3,625,774.96
$ -6,014.02 $ -125,340.41 $ 0.00 $ 0.00 $ -57,721.56 $ -6,981,929.19 $ -1 ,824,029.19
$
57,721.56 $
4,840,804.05 $
-652,463.00
4,699,719.15
-1,183,936.15
$
57,721.56 $
4,188,341.05 $
3,515,783.00
$
-6,014.02 $ -125,340.41 $
0.00 $
0.00 $
0.00 $ -2,793,588.14 $ 1,691,753.81
295,704.00
607,425.15
121,586.00
0.00
0.00
4,553,129.54
2,861,375.73
-651,697.26
$ 289,689.98 $ 482,084.74 $
121,586.00 $
0.00 $
0.00 $ 1,107,844.14 $ 4,553,129.54
- 37-
~
Cash and Cash Equivalents
Accounts Receivable
ToI8l Assets
LlABlLmES AND FUND EQUITY
LlABlLmES
Funds Held for Others
FUND EQUITY
Fund Balances
Unreserved
Unde6ignated
T 0181 Liabilities and Fund Equity
See notes to the general purpose financial statements.
RICHMOND COUNTY BOARD OF EDUCATION
COMBINING BAlANCE SHEET
FIDUCIARY FUND TYPES
JUNE 30 1996
DAVIDSON
TRUST
FUND
EXPENDABLE TRUST FUNDS
NORA ROBETTA
COXWELL MCKENZIE
SCHOlARSHIP SCHOLARSHIP
FUND FUND
$ 29.426.79 $
$ 29.426.79 $
$ 29,426.79 $
$ 29,426.79 $
21,448.58 $
21,448.58 $
21,448.58 $
21,448.58 $
.38-
667.21 $
667.21 $
667.21
667.21 $
EXHIBIT T
TOTALS
AGENCY FUNDS JUNE 30, 1996 JUNE 30. 1995
34,592.48 $
34.592.48 $
$
34,592.48 $
0.00
34,592.48 $
86.135.06 $
86,135.06 $
34,592.48 $
51,542.58
86,135.06 $
86.178.66
74.30
86.252.96
37.490.49
48,762.47
86,252.96
RICHMOND COUNTY BOARD OF EDUCATION
COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
FIDUCIARY FUND TYPE - EXPENDABLE TRUST FUNDS
YEAR ENDED JUNE 30 1996
See notes to the general purpose financial statements.
- 39-
EXHIBIT. J'
RICHMOND COUNTY BOARD OF EDUCATION
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FIDUCIARY FUND TYPE - AGENCY FUNDS
YEAR ENDED JUNE 30. 1996
EXHIBIT "K"
BALANCE BALANCE
JUL Y 1, 1995 ADDITIONS DEDUCTIONS JUNE 30, 1996
. COHEN. COLONEL CLARENCE H.. R.OTC.
AWARD FUND
ASSETS
Cash and Cash Equivalents $ 608.05 $ 34.66 $ 0.00 $ 642.71
LIABILITIES
Funds Held for Others
$
608.05 $
34.66 $
0.00 $
642.71
PERFORMANCE BONDS
ASSETS
Cash and Cash Equivalents
$
36,882.44 $
46,216.87 $
49,149.54 $
33,949.77
LIABILITIES
Funds Held for Others
$
36,882.44 $
46,216.87 $
49,149.54 $
33,949.77
TOTALS - AGENCY FUNDS
ASSETS
Cash and Cash Equivalents
$
37,490.49 $
46,251.53 $
49,149.54 $
34,592.48
LIABILITIES
Funds Held for Others
$
37,490.49 $
46,251.53 $
49,149.54 $
34,592.48
See notes to the general purpose financial statements.
- 40-
RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30.1996
SCHEDULE "1"
FEDERAL
FUNDING AGENCY CFDA REVENUE EXPENDITURES
PROGRAM/GRANT NUMBER IN PERIOD IN PERIOD
Agriculture, U. S. Department of
Direct
Summer Food Service Program for Children
1995 Grant 10.559 $ 272,825.00 $ 272,825.00
1996 Grant 10.559 176,212.00 176,212.00
Through Georgia Department of Education
Food and Nutrition Program
Child and Adult Care Food Program
1996 Grant 10.558 59,968.72 (2)
Food Services
School Breakfast Program
1996 Grant · 10.553 1,522,677.71 (2)
National School Lunch Program
1996 Grant · 10.555 6,078,939.61 11,437,463.73 (3)
Food Distribution Program (1) · 10.550 807,337.34 807,337.34
Total U. S. Department of Agriculture $ 8,917,960.38 $ 12,693,838.07
Education, U. S. Department of
Direct
Impact Aid
1996 Grant · 84.041 $ 1,183,010.28 (5)
Through Georgia Department of Education
Elementary and Secondary Education Act
Title I
Education of Children in State Schools
1995 Carry-Over 84.009 14,850.00 $ 14,850.00
Grants to Local Educational Agencies
1995 Regular · 84.010 -150.00 -150.00
1995 Summer · 84.010 ' 99,953.91 99,953.91
1996 Grant * 84.010 5,080,017.42 5,080,017.42
Title II
Eisenhower Professional Development
1995 Regular 84.281 83,221.85 83,221.85
1996 Grant 84.281 83,931.41 83,911.57
Foreign Languages Assistance
1995 Grant 84.249 574.48 1,148.97 (3)
1996 Grant 84.249 9,894.03 20,464.46 (3)
Title VI
Innovative Education Program Strategies
1996 Grant 84.298 268,013.00 268,013.00
Individuals with Disabilities Education Act
Part B - Special Education
Flow Through
1996 Grant · 84.027 781,381.70 781,381.70
Preschool
1996 Grant 84.173 147,023.98 147,023.98
Georgia Learning Resources System
1996 Grant · 84.027 173,533.26 173,533.26
- 41 -
RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30. 1996
SCHEDULE "1"
FEDERAL
FUNDING AGENCY CFDA REVENUE EXPENDITURES
PROGRAM/GRANT NUMBER IN PERIOD IN PERIOD
Education, U. S. Department of
Through Georgia Department of Education
Individuals with Disabilities Education Act
Part B - Special Education
Severely Emotionally Disturbed
1996 Grant * 84.027 $ 237,402.69 $ 237,402.69
Safe and Drug-Free Schools
1996 Grant 84.186 477,637.40 477,637.40
Special Education Personnel Development
and Parent Training
Georgia Learning Resources System
Title VI, D
1995 Regular 84.029 873.35 873.35
1996 Grant 84.029 12,200.94 12,200.94
Vocational Education - Basic Grants to States
High School Program
Basic Grant
1996 Grant 84.048 354,715.95 558,498.95 (3)
Stewart B. McKinney Homeless Assistance Act
Education for Homeless Children and Youth
1996 Grant 84.196 12,076.53 12,076.53
Through Georgia Department of Human Resources
Rehabilitation Services
Basic Support
1996 Grant 84.126 15,740.00 (4)
Total U. S. Department of Education $ 9,035,902.18 $ 8,052,059.98
Justice, U. S. Department of
Through Richmond County Board of
Commissioners
Juvenile Delinquency Prevention and
Intervention
1995 Grant 16.548 $ 25,874.73 $ 25,874.73
1996 Grant 16.548 21,947.83 21,947.83
Total U. S. Department of Justice $ 47,822.56 $ 47,822.56
Labor, U. S. Department of
Through Richmond/Burke Training Authority
Job Training Partnership Act
08-94-20-33-244 17.250 $ 42,537.10 $ 42,537.10
08-94-20-rcboe-245 17.250 17,253.10 17,253.10
08-95-11-13-316 17.250 36,306.33 36,306.33
08-95-16-13-316 17.250 25,229.82 25,229.82
08-95-20-13-245 17.250 8,733.81 8,733.81
08-95-20-31-245 17.250 36,904.39 36,904.39
Total U. S. Department of Labor $ 166,964.55 $ 166,964.55
- 42 -
RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30.1996
SCHEDULE "1"
FEDERAL
FUNDING AGENCY CFDA REVENUE EXPENDITURES
PROGRAM/GRANT UMBER IN PERIOD ' IN PERIOD
OTHER FEDERAL ASSISTANCE
Defense, U. S. Department of
Direct
Defense Activity for Non-Traditional
Support
1996 Grant $ 7,970.40 (4)
Department of the Air Force
R.O.T.C. Program
1996 Grant 31,742.98 (4)
Department of the Army
R.O.T.C. Program
1996 Grant 133,454.14 (4)
Department of the Navy
R.O.T.C. Program
1995 Grant 3,521.94 (4)
1996 Grant 99,827.16 (4)
National Science Center
1996 Contract 32,400.00 $ 32,400.00
Total U. S. Department of Defense $ 308,916.62 $ 32,400.00
Total Federal Financial Assistance
$ 18,477,566.29 $ 20,993,085.16
Major Programs are identified by an asterisk (*) in front of the CFDA number.
(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.
(2) Expenditures for the Child and Adult Care Food Program and the School Breakfast Program were not maintained
separately and are included in the 1996 National School Lunch Program.
(3) Expenditures for this program include State and/or Other Funds.
Expenditures are not maintained by fund source.
(4) Expenditures on this program were not maintained by fund source.
(5) Funds earned on this program do not require reporting of expenditures.
See notes to the general purpose financial statements.
- 43 -
RICHMOND COUNTY BOARD OF EDUCATION
CASH AND CASH EQUIVALENTS
JUNE 30.1996
NONINTEREST BEARING ACCOUNT
Sun Trust Bank of Augusta, N.A.,
Augusta, Georgia
INTEREST BEARING ACCOUNTS
First Union National Bank,
Augusta, Georgia
Certificates of Deposit
No. 21-053-352-0054464 (5.31%)
No. 21-053-352-0054465 (5.31%)
No. 21-053-353-0047148 (5.36%)
$ 1,000,000.00
6,000,000.00
6,000,000.00 $ 13,000,000.00
Sun Trust Bank of Augusta, N.A.,
Augusta, Georgia
Overnight Sweep Account (4.756%)
Wachovia Bank of Georgia,
Augusta, Georgia
N.O.W. Accounts (1.00%)
OTHER
Petty Cash
See notes to the general purpose financial statements.
- 44 -
1,857,000.00
5,503,260.45
SCHEDULE "2"
$
19,520.60
20,360,260.45
200.00
$ 20,379,981.05
RICHMOND COUNTY BOARD OF EDUCATION
INVESTMENTS
JUNE 30.1996
SCHEDULE "3"
COMMON STOCK
First Union Corporation
6,542 Shares
$ 315,651.50
INVESTMENT POOL
State of Georgia, Office of Treasury and Fiscal Services
Local Government Investment Pool (5.361 %)
6,984,853.10
$ 7,300,504.60
See notes to the general purpose financial statements.
- 45 -
RICHMOND COUNTY BOARD OF EDUCATION
ACCOUNTS RECEIVABLE
JUNE 30.1996
Agriculture, U. S. Department of
Sunvner Food Service Program
Augusta-Richmond County Commission-Council
Delinquency Prevention Program
Augusta-Richmond County Tax Commissioner
County Wide Bond Tax
County Wide School Tax
Children and Youth Services, Georgia Department of
Delinquency Prevention Program
Clerk of the Superior Court of Richmond County
County Wide Bond Tax
County Wide School Tax
Defense, U. S. Department of
Department of the Air Force
R.O.T.C. Program
Department of the Army
R.O.T.C. Program
Department of the Navy
R.O.T.C. Program
National Science Center
Education, Georgia Department of
Food Services
Child and Adult Care Food Program
School Breakfast Program
National School Lunch Program
Vocational Education
Federal Funds
Other State Programs
Alternative Programs
At-Risk Summer School Program
Georgia Leaming Resources System
Part B - Special Projects
Part D - Special Education Personnel
Development and Parent Training
State Funds
Middle School Mentoring Program
Remedial Summer School Program
Severely Emotionally Disturbed
Part B - Special Projects
State Funds
Special Education Support Cost
Lottery Programs
Alternative School Program
Applied Technology Labs
Distant Leaming
Instructional Technology
Model Technology Schools
Safe Schools Grant
SCHEDULE -4-
GOVERNMENTAl FUND TYPES
SPECIAl CAPITAl DEBT
GENERAl REVENUE PROJECTS SERVICE
FUND FUND FUND FUND TOTAl
$ 176,212.00 $ 176,212.00
40.30 40.30
$ 20,746.09 20,746.09
$ 424,719.57 424,719.57
1,365.00 1,365.00
1,871.91 1,871.91
34,398.75 34,398.75
2,659.65
2,659.65
34,086.84
34,086.84
33,092.32
32,400.00
33,092.32
32,400.00
6,692.10 6,692.10
270,751.44 270,751.44
809,950.90 809,950.90
287,041.90 287,041.90
163,317.99 163,317.99
126,520.96 126,520.96
86,807.01 86,807.01
4,372.09 4,372.09
28,040.87 28,040.87
2,388.46 2,388.46
38,702.00 38,702.00
41,750.46 41,750.46
360,889.31 360,889.31
6,487.00 6,487.00
45,000.00 45,000.00
204,166.67 204,166.67
11,448.89 11,448.89
6,207.83 6,207.83
8,613.38 8,613.38
11 ,373.00 11,373.00
- 46 -
RICHMOND COUNTY BOARD OF EDUCATION
ACCOUNTS RECEIVABLE
JUNE 30. 1996
Education, Georgia Department of
Federal Programs
Elementary and Secondary Education IV::l
Title I
Grants to Local Educational Agencies
Title \I
EmenhowerP~~naIDeve~pmem
Foreign Languages Assistance
Title VI
Innovative Education Program Strategies
Individuals with Disabilities Education IV::l
Part B - Special Education
Flow Through
Preschool
Safe and Drug-Free Schools
Stewart B. McKinney Homeless Assistance IV::l
Education for Homeless Children and Youth
GENERAL
FUND
Georgia Peace Officers Standards and Training Council
Law Enforcement Program $ 37,830.38
Georgia State Financing and Investment Commission
Reimbursement on Construction Projects
Office of School Readiness
Pre-Kindergarten Program
Reimbursement for Overpayment of Salaries
Dunbar, Stephanie
Hill, Jesse
RichmoncllBurke Job Training Authority
Job Training Partnership Act
Various Sources
Interest Eamed
Lost and Damaged Books
Other
, Refunds
260.40
950.00
77,429.92
22,825.83
2,450.00
8,369.38
GOVERNMENTAL FUND TYPES
SPECIAL CAPITAL
REVENUE PROJECTS
FUND FUND
DEBT
SERVICE
FUND
SCHEDULE -4-
TOTAL
$ 1,800,730.12
83,931.41
9,894.03
156,578.25
221,972.56
39,949.80
444,549.33
7,073.19
, 37,830.38
498,046.00
1,068,337.04
260.40
950.00
56,411.68
79,759.78
22,825.83
5,409.24
8,369.38
$ 885,571.46 $ 6,418,757.65 $ 498,046.00 $ 22,618.00 $ 7,824,993.11
See notes to the general purpose financial statements.
$ 1,800,730.12
83,931.41
9,894.03
156,578.25
221,972.56
39,949.80
444.549.33
7,073.19
$ 498,046.00
1,068,337.04
56,411.68
2,329.86
2,959.24
- 47 -
RICHMOND COUNTY BOARD OF EDUCATION
DEBT SERVICE REQUIREMENTS TO MATURITY
JUNE 30. 1996
PAYMENTS DUE TOTAL
IN FISCAL YEAR DEBT TOTAL TOTAL
ENDING JUNE 30 SERVICE INTEREST PRINCIPAL
1997 $ 2,922,080.00 $ 1,137,080.00 $ 1,785,000.00
1998 2,931,515.00 1,061,515.00 1,870,000.00
'1999 2,938,425.00 978,425.00 1,960,000.00
2000 2,948,348.75 888,348.75 2,060,000.00
2001 2,961,077 .50 791,077 .50 2,170,000.00
2002 2,976,082.50 686,082.50 2,290,000.00
2003 2,987,097.50 572,097.50 2,415,000.00
2004 2,998,460.00 448,460.00 2,550,000.00
2005 3,015,25625 315,256.25 2,700,000.00
2006 3,026,972.50 171,972.50 2,855,000.00
2007 2,128,880.00 48,880.00 2,080,000.00
$ 31,834,195.00 $ 7,099,195.00 $ 24,735,000.00
CHANGES IN GENERAL LONG-TERM DEBT
TOTAL 1993 ISSUE
Bonds Payable at July 1, 1995
$ 26,420,000.00 $ 17,970,000.00
Bonds Retired During Period
1,685,000.00 250,000.00
Bonds Payable at June 30, 1996
$ 24,735,000.00 $ 17,720,000.00
MATURITY DATES
Semi-Annual Interest Payment Dates
MAY1-NOV1
Annual Debt Retirement Date
NOV1
See notes to the general purpose financial statements.
- 48 -
1993 ISSUE
INTEREST PRINCIPAL
$
734,575.00 $
689,537.50
639,060.00
584,040.00
524,790.00
460,860.00
391,050.00
314,932.50
232,780.00
143,937.50
48,880.00
1,240,000.00 $
1,295,000.00
1,360,000.00
1,425,000.00
1,500,000.00
1,580,000.00
1,665,000.00
1,755,000.00
1,855,000.00
1,965,000.00
2,080,000.00
SCHEDULE -5-
1991 ISSUE
INTEREST PRINCIPAL
402,505.00 $
371 ,977 .50
339,365.00
304,308.75
266,287.50
225,222.50
181,047.50
133,527.50
82,476.25
28,035.00
545,000.00
575,000.00
600,000.00
635,000.00
670,000.00
710,000.00
750,000.00
795,000.00
845,000.00
890,000.00
$ 4,764,442.50 $ 17,720,000.00 $ 2,334,752.50 $ 7,015,000.00
1991 ISSUE 1986 ISSUE
$ 7,530,000.00 $ 920,000.00
515,000.00 920,000.00
$ 7,015,000.00 $ 0.00
MAY'1 - NOV 1 MAY 1 - NOV 1
NOV1 NOV1
- 49 -
RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF STATE REVENUE
YEAR ENDED JUNE 30.1996
AGENCYIFUNDING .
GRANTS
Education, Georgia Department of
Quarrty 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
Umited English Speaking
Middle School Incentive Program
Special Instructional Assistance
In-School Suspension
Mid-term Adjustment
Technology Training
Counselors Grades 4 and 5
Local Fair Share
Educational Equalization Funding Grant
Food Services
Vocational Education
Other State Programs
Alternative Programs
At-Risk Summer School Program
Environmental Science Program
Georgia Learning Resources System
Health Insurance
Innovative Programs
Mentor Teacher Program
Middle School Mentoring Program
Preschool Handicapped Program
Remedial Summer School Program
Severely Emotionally Disturbed
Special Education Support Cost
Teachers'Retirement
Lottery Programs
Alternative School Program
Applied Technology Labs
Distant Learning
Instructional Technology
Model Technology Schools
Pre-Kindergarten Program
Safe Schools Grant
Technology Installation
Children and Youth Services, Georgia Department of
Delinquency Prevention Program
Community Affairs, Georgia Department of
Emergency Fund Grant
Local Assistance Grants
Georgia Peace Officers Standards and Training
Council
Law Enforcement Program
GOVERNMENTAL FUND TYPES
SPECIAL CAPITAL
GENERAl REVENUE PROJECTS
FUND FUND FUND
$ 64,748,446.00
6,494,450.00
1,559,962.00
2,712,089.00
882,169.00
17,060,571.00
2,334,264.00
536,093.00
137,965.00
2,090,661.00
2,479,740.00
636,585.00
819,071.00
489,535.00
205,364.00
-14,531,838.00
6,040,155.00
$ 788,050.00
17,113.00
163,317.99
204,508.10
1,964.19
81,930.00
2,638,645.01
4,800.00
39,390.00
2,388.46
475,836.00
64,380.18
1,811,035.00
6,487.00
186,220.59
45,000.00
300,000.00
15,140.07
895,907.63
205,803.00
1,406,890.29
11,373.00
579,444.00
46,958.46
159,996.74
- 50 .
$
20,000.00
200.00
SCHEDULE -6"
TOTAL
$
64,748,446.00
6,494,450.00
1,559,962.00
2,712,089.00
882,169.00
17,060,571.00
2,334,264.00
536,093.00
137,965.00
2,090,661.00
2,479,740.00
636,585.00
819,071.00
489,535.00
205,364.00
.14,531,838.00
6,040,155.00
788,050.00
17,113.00
163,317.99
204,508.10
1,964.19
81 ,930.00
2,638,645.01
4,800.00
39,390.00
2,388.46
475,836.00
64,380.18
1,811,035.00
6,487.00
186,220.59
45,000.00
300,000.00
15,140.07
895,907.63
205,803.00
1,406,890.29
11,373.00
579,444.00
46,958.46
20,000.00
200.00
159,996.74
RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF STATE REVENUE
YEAR ENDED JUNE 30 1996
SCHEDULE -8"
AGENCYIFUNDING
GOVERNMENTAL FUND TYPES
SPECIAL CAPITAL
GENERAl REVENUE PROJECTS
FUND FUND FUND
TOTAL
GRANTS
Georgia State Financing and Investment
Commission
Reimbursement on Construction Projects
$ 3,517,165.58 $
3,517,165.58
Human Resources, Georgia Department of
Rehabilitation Services
.Basic Support
$
4,260.00
4,260.00
OffICe of School Readiness
Pre-Kindergarten Program
$ 1,967,221.71
1,967 ,221.71
OffICe of Treasury and Fiscal Services
Public School Employees. Retirement
405,374.00
405,374.00
CONTRACTS
Education, Georgia Department of
Govemor's School Leadership Institute
4,000.00
4,000.00
OTHER
Education, Georgia Department of
Special Education Administrators' Conference
Transition Services Conference
2,040.00
90Cl,00
2,040.00
900.00
Medical College of Georgia
Injury Prevention
27,000.00
27,000.00
$ 98,464,749.27 $ 8,793,907.15 $ 3,537,365.58 $ 110,796,022.00
See notes to the general purpose financial statements.
- 51 -
RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF TAXES AND OTHER REVENUE
YEAR ENDED JUNE 30 1996
SCHEDULE or
GENERAL
FUND
GOVERNMENTAL FUND TYPES
SPECIAL CAPITAL
REVENUE PROJECTS
FUND FUND
DEBT
SERVICE
FUND
FIDUCIARY
FUND TYPE
EXPENDABLE
TRUST FUNDS
TOTAL
Taxes
CountyWide Bond Tax $ 2,754,034.55 $ 2,754,034.55
County Wide School Tax $ 53,332,447.07 53,332,447.07
Railroad Car Tax 35,32624 1.822.31 37,148.55
Real Estate Transfer Tax 138,758.56 7,312.62 146,071.18
Other Sources
Donations 21,768.58 21,768.58
Gate Receipts $ 380,47821 380,47821
Indirect Cost
Special Revenue Fund 149.086.00 149,086.00
Interest Earned 1,795,601.49 160,195.98 $ 40,137.07 146.553.48 $ 2,780.11 2,145,268.13
Job Training Partnership Act
RichmondlBurke Job Training Authority 4,050.00 4,050.00
Lost and Damaged Books 46,235.55 46,235.55
R.EAP
Westinghouse Savannah River Company 55,80624 55,80624
Reimbursement for Health Screenings 4,070.92 4,070.92
Rents 33,702.34 33,702.34
Revenue in Lieu of Taxes
Augusta-Richmond County
Commission-Council 43.612.68 43,612.68
Sales
Breakfast 545,945.40 545,945.40
Lunches 1,997,242.85 1.997,242.85
School Assets 7,355.41 7,355.41
Tuition 334,799.89 334,799.89
Other 90,383.10 24.652.52 500.00 115,535.62
$ 56,093,004.07 $ 3,108,514.96 $ 40,637.07 $ 2,909,722.96 $
2,780.11 $ 62,154,659.17
See notes to the general purpose financial statements.
- 52 -
RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF EXPENDITURES BY OBJECT
GENERAL AND SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30. 1996
SCHEDULE "8"
SPECIAL
GENERAL REVENUE
FUND FUND TOTAL
EXPENDITURES
Operating Costs
Salaries $ 102,119,284.89 $ 12,686,320.18 $ 114,805,605.07
. Employee Benefits 30,090,99320 3,124,802.60 33,215,795.80
Travel of Employees 304,705.38 196,397.11 501,102.49
Professional and Technical Services 1,235,729.82 1,182,179.20 2,417,909.02
Compensation and Travel of Board Members 49,422.68 49,422.68
Water, Sewer and Cleaning Services 345,494.55 128,547.13 474,041.68
Repair and Maintenance Services 920,945.60 73,346.03 994,291.63
Rents 169,508.78 33,163.55 202,672.33
Insurance 321,23322 4,005.00 325,238.22
Communications 507,164.36 22,300.92 529,465.28
Other Purchased Services 17,717.45 65,831.31 83,548.76
Supplies 4,849,489.85 2,513,633.4 7 7,363,123.32
Energy 4,238,783.18 90,401.60 4,329,184.78
Food Usage 5,606,626.64 5,606,626.64
Books, Textbooks and Periodicals 3,133,837.97 44,413.75 3,178,251.72
Dues and Fees 116,947.78 47,921.71 164,869.49
Federal Indirect Costs 149,086.00 149,086.00
Other Expenditures 178,441.52 163,139.95 341,581.47
Nonoperating Costs
Principal and Interest 2,140,838.92 51,497.17 2,192,336.09
Building and Building Improvements 1,127,527.16 1,127,527.16
Equipment 1,106,385.55 3,297,382.94 4,403,768.49
Total Expenditures
$ 152,974,451.86 $ 29,480,996.26 $ 182,455,448.12
See notes to the general purpose financial statements.
- 53 -
RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF EXPENDITURES BY OBJECT
LOTTERY PROGRAMS
YEAR ENDED JUNE 30.1996
ALTERNATIVE APPLIED
SCHOOL TECHNOLOGY DISTANT
PROGRAM LABS LEARNING
EXPENDITURES
Operating Costs
Salaries
Employee Benefits
Travel of Employees
Professional and Technical Services $ 15,140.07
Water, Sewer and Cleaning Services
Repair and Maintenance Services
Communications
Other Purchased Services
Supplies
Energy
Food Usage
Books, Textbooks and Periodicals
Dues and Fees
Other Expenditures
Nonoperating Costs
Equipment $ 45,000.00$ 300,000.00
Total Expenditures
$
45,000.00 $
300,000.00 $
15,140.07
See notes to the general purpose financial statements.
- 54 -
SCHEDULE "9"
MODEL
INSTRUCTIONAL TECHNOLOGY PRE-KINDERGARTEN
TECHNOLOGY SCHOOLS PROGRAM
SAFE
SCHOOLS
GRANT
TECHNOLOGY
INSTALLATION
TOTAL
$ 1,966,709.46 $ 1,966,709.46
529,341.17 529,341.17
18,372.61 18,372.61
$ 12,805.55 $ 7,375.00 55,385.71 $ 579,444.00 670,150.33
8,599.98 8,599.98
10,640.43 10,640.43
1,152.97 1,152.97
3,663.65 3,663.65
237,992.95 61,796.95 408,815.64 $ 11,373.00 719,978.54
53,233.53 53,233.53
6,046.77 6,046.77
11,916.29 11,916.29
1,569.00 1,569.00
35,865.79 35,865.79
650,686.13 136,631.05 262,799.00 1,395,116.18
$
901,484.63 $ 205,803.00 $
3,374,112.00 $
11,373.00 $
579,444.00 $ 5,432,356.70
- 55 -
RICHMOND COUNTY BOARD OF EDUCATION
ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS
YEAR ENDED JUNE 30. 1996
THIRTEEN
WEIGHTED AND
MEDIA CENTER
PROGRAMS
Minimum Expenditure Requirements (Total Allotment)
$ 76,334,018.00 $
~~nditures on Combined Program Basis
Salaries
Operations
$ 87,193,884.47
5,520,640.01 $
$ 92,714,524.48
Less:
Expenditures for Media Center Programs
in Excess of Total Media Allotment -1,566,634.86
Expenditures per Audit
$ 91,147,889.62
Amount of Underexpenditure for Total Allotment
$
0.00 $
See notes to the general purpose financial statements.
- 57 -
SCHEDULE "10"
100% TEST FOR
OPERATIONS
PORTION OF
THIRTEEN
WEIGHTED
PROGRAMS
2,487,935.00
4,816,305.73
0.00
RICHMOND COUNTY BOARD OF EDUCATION
ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS. BY PROGRAM
GENERAl.. FUND. QUALITY BASIC EDUCATION PROGRAMS
YEAR ENDED JUNE 30 1996
ALLOTMENTS FROM DEPARTMENT OF EDUCATION
REQUIRED
ORIGINAL 'l(, ORIGINAL MID-TERM
GENERAl.. AND CAREER EDUCATION PROGRAMS
Kindefgarten M $ 6,764,002.00 $ 6.087.601.80
Grades 1.3 M 17.344.153.00 15.609.737.70 $ 819.071.00
Sub-Total. K-3 $ 24.108.155.00 90 $ 21.697.339.50 $ 819.071.00
Grades 4.5 M 8.639.613.00 90 7.n5.651.70
Grades6.8 M 13.805.039.00 90 12.424.535.10
Grades 9 - 12 M 7,529.096.00 90 6.n6.186.40
High School Laboratories M 7.258.529.00 90 6.532.676.10
Vocational Education Laboratories n 3.408.014.00 90 3.067.212.60
Total General and Career Education Programs $ 64,748.446.00 $ 58.273.601.40 $ 819.071.00
SPEC~EDUCATlONPROGRAMS
Regular Programs $ 5.932.150.00 $ 5,338,935.00 $ 0.00
Category I n
Category u n
Category UI M
CategoryNM
Sub-Total - Regular $ 5.932.150.00 90 $ 5.338.935.00 $ 0.00
Category V (Gifted) ("> 562.300.00 90 506,070.00
Total Special Education Programs $ 6,494.450.00 $ 5.845,005.00 $ 0.00
REMEDIAL EDUCATION PROGRAM (") $ 1.559.962.00 90 $ 1.403.965.80 $ 0.00
Total Thirteen Weighted Programs $ n,802.858.oo $ 65.522.5n.20 $ 819,071.00
MEDIA CENTER PROGRAMS
Salaries $ 2,142.585.00 90 $ 1,928.326.50 $ 0.00
Operations 569.504.00 90 512,553.60
Total Media Center Programs $ 2,712,089.00 $ 2,440,880.10 $ 0.00
Total Thirteen Weighted and Media Center Programs
$ 75.514.947.00
$ 67,963,452.30 $
819.071.00
STAFF DEVELOPMENT PROGRAMS
Cost of Instruction
$
217.924.00
$
217.924.00 $
0.00
Professional Development
664.245.00
664.245.00
0.00
Total Staff Development
$
882.169.00 100 $
882.169.00 $
0.00
(*) Identifies Thirteen Weighted Programs.
See notes to the general purpose financial statements.
.58-
SCHEDULE "11"
TOTAL
REQUIRED
ACTUAL EXPENDITURES
SALARIES OPERATIONS TOTAL
AMOUNT OF
UNDEREXPENDITURE
FOR REQUIRED
ALLOTMENT
$ 6,087,601.80 $ 7,455,368.24 $ 228,645.94 $ 7,684,014.18
16,428,808.70 21,143,662.51 836,578.96 21,980,241.47
$ 22,516,410.50 $ 28:599,030.75 $ 1,065,224.90 $ 29,664,255.65 $ 0.00
7,775,651.70 9,810,573.59 446,148.17 10,256,721.76 0.00
12,424,535.10 14,451,046.14 870,639.40 15,321,685.54 0.00
6,776,186.40 10,445,479.21 1.187,208.28 11.632.687.49 O.op
6,532,676.10 7,218,390.01 74,954.52 7,293.344.53 0.00
3,067,212.60 3,847,171.19 827,046.56 4.674,217.75 0.00
$ 59.092.672.40 $ 74.371.690.89 $ 4.471.221.63 $ 78.842,912.72
$ 5,338,935.00
$ 416.489.53 $ 28.803.16 $ 445,292.69
1.749.980.31 30.457.23 1,780,437.54
4.593,691.30 63.967.54 4,657,658.84
598,307.89 16.181.14 614.489.03
$ 5.338,935.00 $ 7,358,469.03 $ 139,409.07 $ 7.497,878.10 0.00
506.070.00 354,627.21 161,848.19 516.475.40 0.00
$ 5.845,005.00 $ 7.713.096.24 $ 301.257.26 $ 8.014.353.50
$ 1,403.965.80 $ 1,534,707.76 $ 43,826.64 $ 1.578.534.40 0.00
$ 66,341,643.20 $ 83.619,494.89 S 4.816,305.73 S 68.435.800.62
$ 1.928.326.50 $ 3,574.389.58 $ 3.574,389.58 0.00
512,553.60 $ 704,334.28 704,334.28 0.00
S 2,440.880.10 $ 3,574,389.58 $ 704,334.28 $ 4.278.723.86
$ 68,782.523.30 $ 87.193.884.47 $ 5.520.640.01 $ 92.714.524.48 $
0.00
$
217.924.00
$
421,042.73 $
421,042.73
664.245.00
484,939.33
484,939:33
905.982.06 $
905.982.06 $
0.00
$
682.169.00
$
. 59 .
RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS
YEAR ENDED JUNE 30. 1996
SCHEDULE "12"
BOARD MEMBER
ADDRESS COMPENSATION TRAVEL
Mr. Kenneth J. Echols, Sr., President (*)
2924 Foxhall Circle
Augusta, Georgia 30907 $ 5,002.35 $ 842.99
Mr. Andrew A. Jefferson, Vice President (*)
2653 Portsmouth Place
Hephzibah, Georgia 30815 4,508.00 464.76
Mr. Jeff Annis (*)
1323 Glenn Avenue
Augusta, Georgia 30904 4,001.65 397.92
Mrs. Cherie H. Foster (*)
924 Avacado Street
Augusta, Georgia 30909 4,009.65 106.49
Mr. Johnnie Jackson (*)
1370 Dewitt Street
Augusta, Georgia 30901 4,001.65 522.61
Mr. Y. N. Myers (*)
3164 Truxton Road
Augusta, Georgia 30906 4,011.99 2,168.86
Mrs. Mary L. Oglesby (*)
2509 Church Street
Hephzibah, Georgia 30815 4,009.65 1,878.84
Mrs. Barbara Padgett (*)
3533 Richmond Hill Road
Augusta, Georgia 30906 4,005.65 523.65
Mrs. Kingsley S. Riley (*)
2030 Steiner Avenue
Augusta, Georgia 30901 4,013.65 435.78
Mr. Adna L. Stein (*)
P. O. Box 543
Augusta, Georgia 30903 4,009.65 506.89
$
41,573.89 $
7,848.79
(*) Denotes Board Members Serving as of June 30, 1996
See notes to the general purpose financial statements.
- 60 -
SECTION II
COMPLIANCE
DEPARTMENT OF AUDITS
254 Washington Street, S.w., Suite 214
Atlanta, Georgia 30334-8400
CLAUDE L. VICKERS
STATE AUDITOR
(404) 656-2174
February 28, 1997
Honorable Zell Miller, Governor
Members of the General Assembly
Members of the State Board of Education
and
Superintendent and Members of the
Richmond County Board of Education
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Richmond County Board of Education as of
and for the year ended June 30, 1996, and have issued our report thereon dated February 28, 1997. 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 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.
We did not observe the taking of the Federal donated commodities inventory, the purchased foods inventory
or the consumable supplies inventory at.June 30, 1996, nor could we satisfy ourselves as to the accuracy of
the amounts stated as inventories through alternative procedures.
Compliance with laws, regulations, contracts, and grants applicable to Richmond 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.
96CRL-IO
The results of our tests disclosed no instances of noncompliance that are required to be reported herein under
Government Auditing Standards.
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.
Respectfully submitted,
t:Y~~
Claude L. Vickers
State Auditor
CL V:gp
96CRL-10
DEPARTMENT OF AUDITS
254 Washington Street, S.w., Suite 214
Atlanta, Georgia 30334-8400
CLAUDE L. VICKERS
STATE AUDITOR
(404) 65&-2174
February 28, 1997
Honorable ZeD Miller, Governor
Members of the General Assembly
Members of the State Board of Education
and
Superintendent and Members of the
Richmond County Board of Education
SINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REOUIREMENTS
APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Richmond County Board of Education as of
and for the year ended June 30, 1996, and have issued our report thereon dated February 28, 1997. 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.
We have applied procedures to test the Richmond County Board of Education's compliance with the following
requirements applicable to each of its Federal financial assistance programs, which are listed in the Schedule
of Federal Financial Assistance, for the year ended June 30, 1996:
(1) Political Activity
(5) Allowable CostS/Cost Principles
(2) Civil Rights
(6) Drug-Free Workplace Act
(3) Cash Management
(7) Audit Follow-UpfResolution
(4) Federal Financial Reports
(8) Administrative Requirements
Our 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 Richmond County Board of Education's compliance with the
requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion.
96CRL-50
With respect to the items tested, the results of those procedures disclosed no material instances of
noncompliance with the requirements listed in the second paragraph of this report. With respect to items not
tested, nothing came to our attention that caused us to believe that the Richmond 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.
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.
Respectfully submitted,
~~
Claude L. Vickers
State Auditor
CL V:gp
96CRL-50
DEPARTMENT OF AUDITS
254 Washington Street, S.w., Suite 214
Atlanta, Georgia 30334-8400
CLAUDE L. VICKERS
STATE AUDITOR
(404) 656-2174
February 28, 1997
Honorable Zell Miller, Governor
Members of the General Assembly
Members of the State Board of Education
and
Superintendent and Members of the
Richmond County Board of Education
SINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS
APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Richmond County Board of Education as of
and for the year ended June 30, 1996, and have issued our report thereon dated February 28, 1997. 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.
We have also audited the Richmond County Board of Education's compliance with the requirements
governmg:
(1) Types of SeIVices (5) Applicable Special Tests and
Allowed or Unallowed Provisions
(2) Eligibility (6) Other Requirement
Claims for Advances and
(3) Matching, Level of Effort, Reimbursements
and/or Earmarking
(4) Reporting
These 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
Richmond 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.
96CRL-80
Except as discussed in the following paragraph, we conducted our audit of compliance in accordance with
generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General
of the United States; and Office of Management and Budget (OMB) Circular A-128, "Audits of State and
Local Governments". Those standards and OMB Circular A-128 require that we plan and perform the audit
to obtain reasonable assurance about whether material noncompliance with the requirements referred to above
occurred. An audit includes examining, on a test basis, evidence about the Richmond County Board of
Education's compliance with those requirements. We believe that our audit provides a reasonable basis for
our opinion.
We did not observe the taking of the Federal donated commodities inventory, the purchased foods inventory
or the consumable supplies inventory at June 30, 1996, nor could we satisfy ourselves as to the accuracy of
the amounts stated as inventories through alternative procedures. However, this matter has no affect on the
Richmond County Board of Education's compliance with the requirements listed in the second paragraph of
this report.
In our opinion, the RichInond 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, 1996.
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.
Respectfully submitted,
~~
Claude L. Vickers
State Auditor
CLV:gp
96CRL-80
DEPARTMENT OF AUDITS
254 Washington Street, S.w., Suite 214
Atlanta, Georgia 30334-8400
CLAUDE L. V,CKERS
STATE AUDITOR
(404) 656-2174
February 28, 1997
Honorable Z~ll Miller, Governor
Members of the General Assembly .
Members of the State Board of Education
and
Superintendent and Members of the
Richmond County Board of Education
SINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REOUIREMENTS APPLICABLE
TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Richmond County Board of Education as of
and for the year ended June 30, 1996, and have issued our report thereon dated February 28, 1997. 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.
In connection with our audit of the fiscal year 1996 general purpose financial statements of the Richmond
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-
128, "Audits of State and Local Govemments",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
governmg:
(1) Types of Services
Allowed' or Unallowed
(2) Eligibility
Our procedures were substantially less in scope than an audit, the objective of which is the expression of an
opinion on the Richmond County Board of Education's compliance with these requirements. Accordingly, we
do not express such an opinion.
96CRL-120
With respect to the items tested, the results of those procedures disclosed no material instances, of
noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing
came to our attention that caused us to believe that the Richmond County Board of Education had not
complied, in all material respects, with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other
Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a
matter of public record.
Respectfully submitted,
~
'\.
Claude L. Vickers
State Auditor
CLV:gp
96CRL-120
/l
SECTION III
INTERNAL CONTROL
DEPARTMENT OF AUDITS
254 Washington Street, S.w., Suite 214
Atlanta, Georgia 30334-8400
CLAUDE L. VICKERS
STATE AUDITOR
(404) 656-2174
February 28, 1997
Honorable ZelI Miller, Governor
Members of the General Assembly
Members of the State Board of Education
and
Superintendent and Members of the
Richmond County Board of Education
REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Richmond County Board of Education as of
and for the year ended June 30, 1996, and have issued our report thereon dated February 28, 1997. 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 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. ,
We did not observe the taking of the Federal donated commo~ities inventory, the purchased foods inventory
or the consumable supplies inventory at June 30, 1996, nor could we satisfy ourselves as to the accuracy of
the amounts stated as inventories through alternative procedures.
The management of the Richmond County Board of Education is responsible for establishing and maintaining
an internal control structure. In fulfilling this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of internal control structure policies and procedures.
The objectives of an internal control structure are to provide management with reasonable, but not absolute,
assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions
are executed in accordance with management's authorization and recorded properly to permit the preparation
of general purpose financial statements in accordance with generally accepted accounting principles. Because
of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not
96ICL-4
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.
In planning and performing our audit of the general purpose financial statements of the Richmond County
Board of Education for the year ended June 30, 1996, we obtained an understanding of the internal control
structure. With respect to the internal control structure, we obtained an understanding of the design of
relevant policies and procedures and whether they have been placed in operation, and we assessed control risk
in order to determine our auditing procedure for the purpose of expressing our opinion on the general purpose
financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not
express such an opinion.
We noted certain matters involving the internal control structure and its operation that we consider to be
reportable conditions under standards established by the American Institute of Certified Public Accountants.
Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design
or operation of the internal control structure that, in our judgment, could adversely affect the entity's ability
to record, process, summarize, and report financial data consistent with the assertions of management in the
general purpose financial statements.
As described in the Schedule of Findings and Improper or Questioned Costs, reportable conditions were noted
in the following control categories:
(1) Cash and Cash Equivalents
(2) General Fixed Assets
A 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.
Our 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, as
described in the Schedule of Findings and Improper or Questioned Costs, the following control category
includes a reportable condition that is also considered to be a material weakness:
General Fixed Assets
These conditions were considered in determining the nature, timing, and extent of the procedures to be
performed in our audit of the Richmond County Board of Education's financial statements and this report does
not affect our report thereon dated February 28, 1997.
96ICL-4
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.
Respectfully submitted,
~~
Claude L. Vickers
State Auditor
CLV:gp
96ICL-4
DEPARTMENT OF AUDITS
254 Washington Street, S.w., Suite 214
Atlanta, Georgia 30334-8400
CLAUDE L. VICKERS
STATE AUDITOR
. (404) 656-2174
February 28, 1997
Honorable Zell Miller, Governor
Members of the General Assembly
Members of the State Board of Education
and
Superintendent and Members of the
Richmond County Board of Education
SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED
IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
Ladies and Gentlemen:
We have audited the general purpose financial statements ofihe Richmond County Board of Education as of
and for the year ended June 30, 1996, and have issued our report thereon dated February 28, 1997. 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. We have also
audited the Richmond County Board of Education's compliance with requirements applicable to major Federal
financial assistance programs and have issued our opinion thereon dated February 28, 1997.
Except as discussed in the following paragraph, we 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-l28 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 Richmond' County Board of Education complied with laws and
regulations, noncompliance with which would be material to a major Federal financial assistance program.
We did not observe the taking of the Federal donated commodities inventory, the purchased foods inventory
or the consumable supplies inventory at June 30, 1996, nor could we satisfy ourselves as to the accuracy of
the amounts stated as inventories through alternative procedures.
In 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
96ICL-7
procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We
have addressed internal control structure policies and procedures relevant to our audit of the general purpose
.financial statements in a separate report dated February 28, 1997.
The management of the Richmond County Board of Education is responsible for establishing and maintaining
an internal control structure. In fulfilling this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of internal control structure policies and procedures.
The objectives of an internal control structure are to provide management with reasonable, but not absolute,
assurance that, assets are safeguarded against loss from unauthorized use or disposition, that transactions are
- executed in accordance with management's authorization and recorded properly to permit the preparation of
general purpose financial statements in accordance with generally accepted accounting principles, and that
Federal financial assistance programs are managed in compliance with applicable laws and regulations.
Because of inherent limitations in any internal control structure, errors, irregularities, or instances of
noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure
to future periods is subject to the risk that procedures may become inadequate because of changes in
conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate.
F or 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:
GENERAL REQUIREMENTS SPECIFIC REOUIREMENTS
(1) Political Activity (1) Types of Services
Allowed or Unallowed
(2) Civil Rights
(2) Eligibility
(3) Cash Management
(3) Matching, Level of Effort,
(4) Federal Financial Reports and/or Earmarking
(5) Allowable Costs/Cost Principles (4) Reporting
(6) Drug-Free Workplace Act (5) Applicable Special Tests and
Provisions
(7) Audit Follow-UplResolution
(6) Other Requirement
(8) Administrative Requirements Claims for Advances and
Reimbursements
For 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.
During the year ended June 30, 1996, the Richmond County Board of Education expended 86% of its total
Federal financial assistance under major Federal financial assistance programs.
96ICL-7
We 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 of the Board's major Federal financial assistance programs, which
are identified in the Schedule of Federal 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 suchan opinion.
We noted certain matters involving the internal control structure and its operation that we consider to be
reportable conditions under standards established by the American Institute of Certified Public Accountants.
Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design
or operation of the internal control structure that, in our judgment, could adversely affect the Board's ability,
to administer Federal financial assistance programs in accordance with applicable laws and regulations.
As described in the Schedule of Findings and Improper or Questioned Costs, reportable conditions were noted
in the following control category:
Administrative Requirements
A material weakness is a reportable condition in which the design or operation of one or more of the internal
control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and
regulations that would be material to a Federal financial assistance program may occur and not be detected
within a timely period by employees in the normal course of performing their assigned functions.
Our consi~eration 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.
These conditions were considered in determining the nature, timing, and extent of the procedures to be
performed in our audit of the Richmond 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 February 28, 1997.
This report is intended for the information of management, the Federal cognizant audit agency and other
Federal grantor agencies and should not be used for any other purpose. This restriction is not intended to limit
the distribution of this report which is a matter of public record.
Claude L. Vickers'
State Auditor
CL V :gp
96ICL-7
SECTION IV
FINDINGS AND IMPROPER OR QUESTIONED COSTS
RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF FINDINGS AND IMPROPER OR OUESTIONED COSTS
YEAR ENDED JUNE 30. 1996
PRIOR YEAR
AUDIT FOLLOW-UPIRESOLUTION
Improper Expenditure
Financial Statements
Amount: $655.85
Audit Control Number 7211-93-02
The audit report for the year ended June 30, 1993, disclosed improper expenditures of$6S5.85 made from
the Board's General Fund for breakfast meetings with local representatives of the Georgia General Assembly.
These type expenditures are considered beyond the customary scope of expenditures of school funds for
educational purposes. This questioned cost had not been resolved at June 30, 1996. Reimbursement of the
$655.85 should be secured for deposit to the Board's General Fund.
AUDIT FOLLOW-UPIRESOLUTION
Improper Expenditure
Financial Statements
Amount: $244.00
Audit Control Number 7211-93-05
The audit report for the year ended June 30, 1993, disclosed improper expenditures of $244.00 made from
the Board's General Fund for engraved brass trays for Board Members. Expenditures of this nature are
considered beyond the customary scope of expenditures of school funds for educational purposes. This
questioned cost had not b~en resolved at June 30,' 1996. Reimbursement of the $244.00 should be secured
for deposit to the Board's General Fund.
AUDIT FOLLOW-UP/RESOLUTION
Failure to Meet Expenditure Requirements
Financial Statements
Finding Resolved
Audit Control Number 7211-93-06
The audit report for the year ended June 30, 1993, stated that the Board had an underexpenditure of Quality
Basic Education (QBE) funds of $9,230.54 for the StatTDevelopment - Professional Development Stipends
Program. For the year under review, an adjustment was made to the Boards's local fair share by the Georgia
Department of Education to refund this underexpenditure as required.
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RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF FINDINGS AND IMPROPER OR OUESTIONED COSTS
YEAR ENDED JUNE 30. 1996
PRIOR YEAR
EXPENDITURESILIABILITIES/DISBURSEMENTS
Failure to Meet Expenditure Requirements
Financial Statements
Amount: $100,773.44
Audit Control Number 7211-94-01
The audit report for the year ended June 30, 1994, noted that the Board had an underexpenditure of Quality
Basic Education (QBE) funds of$100,773.44 for the Staff Development - Professional Development Stipends
Progranl. 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$100,773.44
should be returned to the Georgia Department of Education through an increase in the Board's local fair share
for the QBE programs in a subsequent fiscal period.
AUDIT FOLLOW-UPIRESOLUTION
Audit Distribution Requirements
Federal Financial Assistance
Finding Resolved
Audit Control Number 7211-95-03
The audit report for the year ended June 30, 1995, reported the Board failed to submit a copy of the 1994
audit report to all agencies that provided Federal financial assistance to the Board. During the year under
review, the Board submitted copies of the 1994 and 1995 fiscal year audit reports to all agencies as required.
AUDIT FOLLOW -UP/RESOLUTION
Selection of Eligible Attendance Areas
Federal Financial Assistance
Finding Resolved
Audit Control Number 7211-95-05
The audit report for the year ended June 30, 1995, reported that the Board was unable to document
identification of eligible attendance areas for the Elementary and Secondary Education Act - Title I - Grants
to Local Educational Agencies Program (CFDA 84.010). The Georgia Department of Education has reviewed
this matter and in a letter dated September 30, 1996 determined that this finding is closed. For the year under
review, the Board provided adequate documentation of the identification of eligible attendance areas as
required.
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RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF FINDINGS AND IMPROPER OR OUESTIONED COSTS
YEAR ENDED JUNE 30. 1996
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS
Failure to Maintain General Fixed Assets Account Group
Financial Statements
Reportable Condition - Material Weakness
Audit Control Number 7211-93-04
The audit report for the year ended June 30, 1995, noted that the management of the Richmond 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.
ADMINISTRATIVE REQUIREMENTS
Inadequate Inventory Records
Federal FinanCial Assistance
, Major Program
Reportable Condition.- Material Weakness
Nonmaterial Noncompliance ,
Audit Control Number 7211-93-07
The audit report for the year ended June 30, 1995, stated that the Board's property management records for
the National School Lunch Program (CFDA 10.555) were incomplete and failed to meet applicable property
management standards. For the year under review, the property management records for the National School
Lunch Program were again 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 for six schools selected for examination were deficient as follows:
1) The inventory records did not include acquisition costs, acquisition dates and serial numbers or other
identifying numbers for many of the items.
2) One equipment item with an acquisition co~t in excess of$500.00 was not added to the inventory'
listing.
3) The inventory listing included two items which were replaced, however, the original items were not
deleted from the inventory listing during the period under review.
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RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF FINDINGS AND IMPROPER OR OUESTIONED COSTS
YEAR ENDED JUNE 30. 1996
PRIOR YEAR/CURRENT YEAR
ADMINISTRATIVE REQUIREMENTS
Inadequate Inventory Records
Federal Financial Assistance
Major Program
Reportable Condition - Material Weakness
Nonmaterial Noncompliance
Audit Control Number 7211-93-07
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 perfo~ed and reconciled to the property records to ensure the accuracy
of inventory records.
CASH AND CASH EQUIVALENTS
Uncollateralized Deposits
Financial Statements
Reportable Condition
Nonmaterial Noncompliance
Audit Control Number 7211-95-01
The audit report for the year ended June 30, 1995, reported that the Richmond County Board of Education
failed to adequately provide for the collateralization of its bank balances. In the year under review, the Board
again failed to have its bank balances fully collateralized as provided for by the Official Code of Georgia
Annotated Section 45-8-12 which states, in part, as follows:
"The collecting officer or officer holding public funds may not have on deposit at any time in any
depository for a time longer than ten days a sum of money belonging to the public body when such
depository has not given bond to the public body as set forth 'in this code section. . . 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 of the public funds being secured after the deduction of the amount of deposit
insurance" .
This noncompliance occurred because of management's failure to adequately monitor the collateralization of
balances at individual banks. The Board should implement procedures to monitor the collateralization of bank
balances to ensure compliance at all times with State laws governing deposits and investments.
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RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF FINDINGS AND IMPROPER OR OUESTIONED COSTS
YEAR ENDED JUNE 30. 1996
PRIOR YEAR/CURRENT YEAR
FEDERAL FINANCIAL REPORTS
DE 0106 not Supported by Accounting Records
Federal Financial Assistance
Major Programs
Nonmaterial Noncompliance
Audit Control Number 7211-95-02
The audit report for the year ended June 30, 1995, reported errors in the amounts reported on the Board's
School Nutrition Claim Data Form (DE 0106). For the year under review, a comparison of the Board's DE
0106's and the accounting records for the Food Distribution Program (CFDA 10.550) and the National School
Lunch Program (CFDA 10.555) revealed an error in the amount reported for the USDA Commodities
received. This error occurred due to management's failure to adequately monitor the accuracy of reports
submitted to the Georgia Department of Education in accordance with the State Agency's School Nutrition
Program record keeping guide.
U. S.Department of Agriculture regulations 7 CFR 210.9, 3015 and 250.16 mandates that financial
management systems provide for accurate, complete and current disclosure of the financial results of these U.
S. Department of Agriculture programs. Procedures should be implemented to ensure that DE 0106's are
accurate and verifiable to the accounting records as required.
ADMINISTRATIVE REQUIREMENTS
Inadequate Inventory Records
Federal Financial Assistance
Major Program
Reportable Condition - Material Weakness
Nonmaterial Noncompliance
Audit Control Number 7211-95-04
J
The audit report for the year ended June 30, 1995, stated that the Board's property management records for
the Elementary and Secondary Education Act - Title I - Grants to Local Educational Agencies Program
(CFDA 84.010) were incomplete and failed to meet applicable property management standards. For the year
under review, the property management records for the Title I Program were again 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). A review of the inventory records presented for examination
revealed that eighty-five equipment items with an acquisition cost in excess of$I,OOO.OO each were not added
to the inventory listing.
An inventory system should be implemented that provides for the identification of all equipment purchased as
outlined in Chapter41 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.
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RICHMOND COUNTY BOARD OF EDUCATION
SCHEDULE OF FINDINGS AND IMPROPER OR OUESTIONED COSTS
YEAR ENDED JUNE 30.1996
CURRENT YEAR
ALLOWABLE COSTS/COST PRINCIPLES
Unallowable Expenditure
Federal Financial Assistance
Major Program
Nonmaterial Noncompliance
Amount: $2,998.00
Audit Control Number 7211-96-01
An expenditure in the amount of $2,998.00 was made for equipment for the Individuals with Disabilities
Education Act, Part B - Special Education - Severely Emotionally Disturbed Program (CFDA 84.027). This
expenditure does not appear to be allowable in accordance with cost allowability criteria defined in Office of
Management and Budget (OMB) Circular A-87 which states, in part, that equipment purchases are "allowable
when such procurement is specifically approved by the Federal grantor agency". The Board did not receive
specific approval for this expenditure as required.
This questioned cost occurred because management failed to monitor the Board's compliance with OMB
Circular A-87. The Georgia Department of Education should review this matter and determine what action
is necessary to resolve this questioned cost.
Note: The Richmond County Board of Education was provided an opportunity to include pertinent comments
from the Board's management concerning these audit findings, conclusions and recommendations. The Board
has elected not to provide comments for inclusion in this report.
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