HomeMy WebLinkAboutFINANCIAL STATEMENT FOR YEAR ENDING DECEMBER 2003
I
I
-I
I
I
I
AUGUSTA-RICHMOND COUNTY, GEORGIA
Annual Financial Report-
Year Ended December 31,2003
Table of Contents
INTRODUCTORY SECTION
TRANSMITTAL LETTER
LISTING OF ELECTED AND APPOINTED OFFICIAL
FINANCIAL SECTION
I
I
I-
I
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
MANAGEMENT'S DISCUSSION AND ANALYSIS
BASIC FINANCIAL STATEMENTS
Government-wide Financial Statements:
Statement of Net Assets
Statement of Activities
Fund Financial Statements:
I
I
I
I
I
I
Balance Sheet - Governmental Funds
Reconciliation of the Balance Sheet of the Governmental Funds to the Statement of Net Assets
Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of
Governmental Funds to the Statement of Activities
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual -
General Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual-
Fire Protection Fund
Statement of Net Assets - Proprietary Funds
Statement of Revenues, Expenses and Changes in Fund Net Assets - Proprietary Funds
Statement of Cash Flows - Proprietary Funds
I
I
I
Statement of Fiduciary Net Assets - Fiduciary Funds
Statement of Changes in Fiduciary Net Assets - Fiduciary Funds
Notes to Financial Statements
Page
i-vii
viii - ix
1-2
4 - 16
21
22-23
26-27
29
30-31
33
34
35
36
37
38 - 39
40
41
45 - 77
AUGUSTA-RICHMOND COUNTY, GEORGIA
Annual Financial Report
Year Ended December 31, 2003
Table of Contents (continued)
REQUIRED SUPPLEMENTARY INFORMATION
Pension Plans- Required Supplementary Information - Schedules of Funding Progress
Pension Plans - Required Supplementary Information - Schedules of Employer Contributions and
Notes to Required Schedules
COMBINING AND INDIVIDUAL FUND STATEMENTS
NONMAJOR GOVERNMENTAL FUNDS
Combining Balance Sheet - Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances -
Nonmajor Governmental Funds
Combining Balance Sheet - Nonmajor Special Revenue Funds
Combining Statement of Revenues, Expenditures and Changes in Fund Balances -
Nonmajor Special Revenue Funds
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual-
Nonmajor Special Revenue Funds
Urban Services District Fund
EmergencyTelephone System Fund
Capital Outlay Fund
Law Enforcement Fund
Occupation Tax Fund
Special Assessment Fund
PromotionITourism Fund
Housing and Neighborhood Development Fund
Urban Development Action Grant Fund
Federal Drug Fund
State Drug Fund
Downtown Development Authority Fund
Law Library Fund
5% Victim's Crime Assistance Fund
Supplemental Juvenile Service Fund
Weed and Seed Federal Grant Fund
Wireless Phase Fund
Community Greenspace Fund
Perpetual Care - I Fund
Landbank Authority Fund
Combining Balance Sheet - Nonmajor Debt Service Funds
Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Debt
Service Funds
Page
lJ
1--:
(1
I-j
Ij
Il
1-;
1-]
11
Ij
79 - 80
81 - 83
88 - 89
90 - 91
92 - 95
96 - 99
100
101
102
103
104
105
106
107
108
109
IIO
III
II2
II3
II4
II5
II6
II7
II8
II9
I)
120
IJ
I;
I:
I:
I~
I:
I'
I
121
,I
-,
,I
:1
,I
,I
;1
AUGUSTA-RICHMOND COUNTY, GEORGIA
Annual Financial Report
Year Ended December 31,2003
Table of Contents (continued)
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual-
Nonmajor Debt Service Fund,s
Debt Service Fund
Urban Debt Service
Combining Balance Sheet - Nonmajor Capital Project Funds
Statement of Revenues, Expenditures and Changes in Fund Balances-
Nonmajor Capital Project Funds
,I
,I
,I
:1
,
11
,
,I
II
;1
:1
,I
NONMAJORENTERPRISEFUNDS
Combining Statement of Net Assets - Nonmajor Enterprise Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Net Assets-
Nonmajor Enterprise Funds
Combining Statement of Cash Flows - Nonmajor Enterprise Funds
<,
INTERNAL SERVICE FUNDS
Combining Statement of Net Assets - Internal Service Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Net Assets-
Internal Service Funds
Combining Statement of Cash Flows - Internal Service Funds
FIDUCIARY FUNDS
Combining Statement of Fiduciary Net Assets - Pension Trust Funds
_ Combining Statement of Changes in Fiduciary Net Assets - Pension Trust Funds
Combining Statement of Changes in Fiduciary Assets and Liabilities - Agency Funds
COMPLIANCE SECTION
Schedule of Expenditures of Federal Awards
Notes to Schedule of Expenditures of Federal Awards
_ Summary Schedule of Prior Audit Findings
I
I
I
Report of Independent Certified Public Accountants on Compliance and on Internal Control over
Financial Reporting Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards
Report of Independent Certified Public Accountants on Compliance with Requirements Applicable
to Each Major Program and Internal Control over Compliance in Accordance with OMB Circular
A-B3
Schedule of Findings and Questioned Costs
Page
122
123
124
125
128 - 129
130 - 131
132 - 135
138 - 139
140 - 141
142 - 145
150
151
154 - 155
158 - 159
160
161- 162
163
164 - 165
166 - 168
I
I
I
I
I
I
I
I
I
,I
1
I
1
I
I
I
I
I
I
FINANCE DEPARTMENT
DAVID PERSAUD, MPA; CGFM, CPE, FINANCE DIRECTOR
Room 207 - Municipal Building
530 Greene Street - AUGUSTA, GA 30911
(706) 821-2429 - FAX (706) 821-2520
www.augustaga.gov
June 1, 2004
The Honorable Mayor Bob Young
Members ofthe Augusta-Richmond County Commission
Augusta, Georgia 30911
State law requires that all general-purpose local governments publish within six months
of the close of each fiscal year a complete set of financial statements presented in
conformity with generally accepted accounting principles (GAAP) and audited in
accordance with generally accepted auditing standards by a firm of licensed certified
public accountants. Pursuant to that requirement, is hereby submitted the annual
financial report of Augusta, Georgia for the fiscal year ended December 31,2003.
This report consists of management's representations concerning the finances of Augusta,
Georgia., Consequently, management assumes full responsibility for th~ completeness
and reliability of all of the information presented in this report. To provide a reasonable
basis for making these representations, management of Augusta, Georgia has established
a .comprehensive internal control framework that is designed both to protect the
government's assets from loss, theft, or misuse and to compile sufficient reliable
information for the preparation of Augusta, Georgia financial statement in conformity
with GAAP. Because the cost of internal controls should not outweigh their benefits, the
Augusta, Georgia comprehensive framework' of internal controls has been designed to
provide reasonable rather than absolute assurance that the financial statements will be
free from material misstatement. As management, I assert that, to the best of my
knowledge and belief, this financial report is complete and reliable in all material
respects.
Augusta, Georgia financial statements have been audited by Cherry Bekaert & Holland,
L.L.P., a firm oflicensed certified public accountants. The goal of the independent audit
was to provide reasonable assurance that the financial statements of Augusta, Georgia for
the fiscal year ended December 31, 2003 are free of material misstatement. The
independent audit involved examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements; assessing the accounting principles used and
significant estimates made by management; and evaluating the overall financial statement
presentation. The independent auditors concluded, based upon the audit, that there was a
reasonable basis for rendering unqualified opinions that Augusta, Georgia's financial
statements for the fiscal year ended December 31, 2003, are fairly presented in
conformity with GAAP. The independent auditors' report is presented as the first
component of the financial section of this report.
The independent audit of the financial statements of Augusta, Georgia was part of a
broader, federally mandated "Single Audit" designed to meet the special needs of federal
grantor agencies. The standards governing Single Audit engagements require the
independent auditors to report not only on the fair presentation of the financial
statements, but also on the audited government's internal controls and compliance with
legal requirements, with special emphasis on internal controls and legal requirements
involving the administration of federal awards. These reports are included in Augusta,
Georgia's Single Audit section of this report.
II
IJ
Ii
I~
I)
Ij
I]
I)
GAAP require that management provide a narrative introduction, overview, and analysis
to accompany the basic financial statements in the form of Management's Discussion and
Analysis (MD&A). This letter of transmittal is designed to complement MD&A and
should be read in conjunction with it. The Augusta, Georgia MD&A can be found
immediately following the report of the independent auditors.
Profile of the Government
Augusta is located in the east central section of the state on the south bank of the
Savannah River, which serves as the boundary between Georgia and South Carolina.
Augusta is on the fall line and has landscape dotted with. foothills which descend to the
coastal plain. Augusta is the head of the navigation on the Savannah River and is 135
miles east of Atlanta, 127 miles northwest of the port of Savannah, and 72 miles
southwest of Columbia, South Carolina. Augusta is the trade center for 13 counties in
Georgia and five in South Carolina, a section known as the Central Savannah River Area.
11
Ij
The Government was created by legislative act in the Sate of Georgia in 1995 from the
unification of the two governments, the City of Augusta, Georgia and Richmond County,
Georgia. On June 20, 1995, the citizens of Richmond County and the City of Augusta
voted to consolidate into one government named Augusta, Georgia. The officials for the
new government were elected and, based on the charter, took office on January 1, 1996.
The unified government combined all functions and began financial operations January 1,
1996.
r--~l
IJ
11
, I
Ij
I;
IJ
I;
I;
I:
I;
I
The Government is governed by a full-time Mayor, with a term of four years, and a ten
member Commission, who serve on a part-time basis and are elected to staggered terms
of four years. The Mayor and Commission appoint an Administrator who serves as a
full-time administrative officer and is responsible for the daily operations of ~e
Government.
Augusta provides a full range of services, including public safety and fire protection; the
construction and maintenance of highways, streets, and other infrastructure; recreational
activities and cultural events. Sanitation services, water and sewer services, transportation
services and other administrative and governmental services are also provided by the
Consolidated Government. Augusta also is financially accountable for the legally
separate Richmond County Department of Health which is reported separately within
I
1
I
I
I
1
I
1
1
I
I
I
I
1
I
1
I
I
1
Augusta's financial statements. Additional information on this legally separate entity can
be found in Note lB. in the notes to the financial statements.
The annual budget serves as the foundation for Augusta's financial planning and control.
All agencies of Augusta are required to submit requests for appropriation to the
government's administration before the month of July each year. The government's
Administrator uses these requests as the starting point for developing a proposed budget.
The government's Administrator then presents this proposed budget to the Commission
for review prior to October 31. The Commission is required to hold public hearings on
the proposed budget and to adopt a final budget by no later than December 31, the close
of Augusta's fiscal year. The appropriated budget is prepared by fund, function (e.g.
Public Safety), and department (Sheriff Road Patrol). Department heads may make
transfers of appropriations within a department. Transfers of appropriations between
departments, however, require the special approval of the governing commission.
Budget-to-actual comparisons are provided in this report for each individual
governmental fund for which an appropriated annual budget has been adopted. For the
general fund, this comparison is presented as part of the basic financial statements for the
governmental funds. For governmental funds, other than the general fund, with
appropriated annual budgets, this comparison is presented in the governmental fund
subsection of this report. Also included in the governmental fund subsection are project-
length budget-to-actual comparisons for each governmental fund for which a project-
length budget has been adopted.
Factors Affecting Financial Condition
The information presented in the financial statements is perhaps best understood when it
is considered from the broader perspective of the specific environment within which
Augusta operates.
Local economy. Augusta, located in the heart of the Southeast, is Georgia's second
largest and second oldest city. The According to the magazine "Where to Retire",
Augusta is ranked number four among the nation's low-cost cities for retirement. This is
partially based on a variety of factors including cost of living, transportation, higher
education, job outlook, health care, the arts, recreation and climate.
Bolstered by nearly half a million residents, the area's economy as a whole is much like
that of its health care sector: clean, high tech and well supplied with skilled workers. In
addition to a strong sense of history and related attractions, the city offers a rich variety
of sophisticated amenities including a vibrant arts community and a wealth of fine
restaurants.
The Augusta's Southern hospitality is evident from the temperate climate to the year-
round greenery that reminds residents and visitors alike of Augusta's designation as the
Garden City.
III
The MSA has a strong, stable economy, composed of (1) an extensive base of
manufacturers; (2) a core of technology-based employers; and (3) an expanding service
sector.
(I
11
11
The diverse industrial base includes production of medical products, phannaceuticals,
golf carts, chemicals, industrial tools, textiles among others.
Ij
11
I;
11
I]
11
Health care, a technology-based employer in the region, employs more than 25,000
medical professionals. The Medical College of Georgia (MCG) is ranked as one of the
top 20 medical schools in the nation and is Georgia's Health Sciences University. MCG
has schools of Dentistry, Allied Health Sciences, Nursing and Graduate studies, as well
as Medicine. A pioneer in telemedicine, MCG has received national recognition for its
efforts in this field. MCG serves patients from all over the southeast, with over 80 clinics
centrally located within one building. More than a dozen other major medical facilities
are located in the region.
The U.S. Army Signal Center and Fort Gordon, the largest communications electronics
training center in the world, rounds out Augusta's technology-based economy. The center
has advanced communications technology, adapting the telephone to military usage by
incorporating satellite communications and computer technology.
In addition, Fort Gordon is home to the Army's Computer Science School and home to a
joint services intelligence organization that supports the Department of Defense. The
teaching facilities at Eisenhower Army Medical Center (EAMC) serve as a regional tri-
service medical center serving 5 southeastern states and Puerto Rico.
11
IV
11
I)
11
I'
I:
I,
I,:
1
1
At the center of the technology-based employers is the Savannah River Site (SRS), a U.S.
Department of Energy (DOE) facility, which comprises a majority of the MSA's
economy with over 13,000 employees. The Site's mission is to reduce nuclear danger by
transferring applied environmental technology to government and non-government
entities cleaning up the site, managing the waste and forming economic and industrial
alliances.
SRS has a significant economic impact across the two states, affecting more than a dozen
counties. The current annual budget of SRS is $1.6 billion, including a payroll of
approximately $900 million.
Westinghouse Savannah River Company (WSRC) is responsible for the day-to-day
operations of the nuclear facility. Other major contractors on the site include Bechtel
Savannah River Inc., Babcock & Wilcox Group (B & W Savannah River Company) and
British Nuclear Fuels Limited (BNFL Savannah River Company).
The economic outlook is sound, with moderate employment gains expected over the short
term. The Augusta economy is expected to continue to benefit from a diverse economic
base and strategic location in the southeast region.
:1
I
,I
,I
1
,I
,I
,I
,I
I
;1
,I
,I
I
.1
.1
..1
~I
I
)
Long-term financial planning. The governing commission approved the fiscal year
2004 budget totaling $582 million with emphasis on controlling the cost of government
services. The budget will provide the level of services in fiscal year 2004 consistent with
fiscal year 2003. More emphasis will be placed on managing for results by utilizing a
program performance basis of budgeting in fiscal year 2004. This is a departure from the
previous years line-item budgeting approach. The concept of program-performance
budgeting will provide department managers with an opportunity to establish program
goals and objectives and develop relative performance measures to measure program
performance and results.
During fiscal year 2003 the Finance Department revised the comprehensive five year
2004-2008 capital improvements program budget totaling over $300 million. This long-
term fiscal plan is a strategic planning document consisting of an evaluation of all the
capital and infrastructure needs and capital improvements necessary to allow the
government to plan for capital assets acquisition and replacement for the next five years.
The Special Purpose Local Option Sales Tax (SPLOST) for the current period 2001-2005
will generate an estimated $160 million for capital projects. This dedicated one cent
sales tax provides the government with a method of funding essential on-going capital
projects and provide funds for major capital needs. Discussions are in place to extend the
SPLOST over the next ten years period 2006-2015 for $320 million.
The government is planning a $160 million issuance of water and sewerage revenue
bonds in the summer of 2004. The proceeds of the bonds will be used to fund the costs of
making additions, extensions and improvements to the consolidated government's water
and sewer system.
The Augusta Utilities Department owns and operates the water treatment distribution
facilities as well as the waste water conveyance and treatment facilities. The current
water system serves over 59,210 residential customers and 6653 commercial and
industrial customers. The service area encompasses approximately 210 square miles
serving an estimated population in excess of 180,000. Water is supplied by the Savannah
River and supplemented by ground water wells through out the county.
The current waste water system serves approximately 44,801 residential and 5074
commercial and industrial customers. The service area encompasses 106 square miles
with an estimated population of 150,683.
Cash management policies and practices. Cash temporarily idle during the year was
invested in certificates of deposit and the State Treasurer's investment pool. The
maturities of the investments range form 30 days to 2 years, with an average maturity of
12 months. The average yield on investments was 1.12 percent for the government and an
average yield of 12.9 percent for the pension trust fund defined benefit plans. The rate of
return for the pension trust fund is attributable to the long-term character of most of its
investment holdings and the dismal year for the U.S. equity investors. Investment
v
VI
--)
Il
Ii
I:
Ij
I;
--:
I-j
I]
IJ
IJ
Ii
1.1
I;
I:
I,
I~
I~
I,
income includes appreciation in the fair value of investments. Increases in fair value
during the current year, however, do not necessarily represent trends that will continue;
nor is it always possible to realize such amounts, especially in the case of temporary
changes in the fair value of investments that the government intends to hold to maturity.
Risk management. In 2003, the Risk Management program was transferred from the
Human Resources Department to the Finance Department.
During 2003, Risk Management continued to provide annual training to the employees of
Augusta Government in the areas of safety, substance abuse awareness, substance abuse
policy changes, emergency evacuation procedures and new hire orientation. In additional
to these established training areas, driver training education was introduced in 2003.
In addition, various control techniques; including employee accident prevention training
have been implemented during the year to minimize accident-related losses.
Other areas where Risk Management has implemented successful training proposals
during 2003 are monthly safety training, 12 sessions was held by Risk Management for
department safety officers on policies, procedures and general safety. Substance abuse
training was provided for an estimated 2600 employees. Inspections by risk Management
included 201 vehicle inspections, 98 playground inspections, 52 worksite inspections, 2
ergonomic assessments and 162 safety interviews with injured employees.
In the claims administration area, Risk Management handled 40 general liability claims,
275 auto accidents (142 liability claims), 460 workers compensation claims (295 medical
only and 37 lost time), 138 complaints (42 from Augusta Cares).
In addition to the training programs, other loss control initiatives included the
continuation of the purchase and installation of video cameras in the Sheriffs Office
patrol vehicle which is going since 1995.
Fleet Management: The Fleet maintenance services are accounted for in an Internal
Service Fund with monthly allocations to all user departments. Contract maintenance
represented 56% of all costs, non-contract maintenance represented 11 %, fuel represented
27% and fleet operating costs represented 6% of the total expenses. Maintenance service
was provided by First Vehicle Services. In 2003, 12,105 work orders were completed at
a cost of each work order at $313. In 2002 the average cost per work order was $300.
This is an increase per work order of $13. The lease payments to the Georgia Municipal
Association for vehicles and equipment of all funds remain relatively constant from year
to year. Fleet Management's goals for 2004 are to continue to provide quality repairs at
the lowest cost. Specific Goals include: (1) Improve maintenance facilities, (2)
Implement audit and inspection processes to ensure accountability of parts and parts
costs, proper invoicing for all non-contract cost repairs and (3) provide more accurate
budget data to user departments for budget preparation.
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
-I
Acknowledgements
The preparation of this report would not have been possible without the efficient and
dedicated services of the entire staff of the finance department. I would like to express
my appreciation to all members of the department who assisted and contributed to the
preparation of this report. Credit also must be given to the Mayor and the governing
commission for their unfailing support for maintaining the highest standards of
professionalism in the management of Augusta's finances.
Respectfully submitted,
Qdiers
Finance lrector
Vll
Bobby Hankerson - District Five
3312 Balkcom Drive
Augusta, Georgia 30906
(706) 790-9199 (Home/Bus)
(706) 821-1838 (Fax)
Andy Cheek - District Six
2129 Howard Road
Augusta, Georgia 30906
(706) 796-0078 (Home)
(706) 796-8970 (Fax)
(J
11
11
I-j
Il
11
1~1
I-j
11
11
I~]
IJ
I]
Elected Officials - December 31st, 2003
Mayor Bob Young
One Seventh St., Suite 1801
Augusta, Georgia 30909
738-5575 (Home)
821-1831 (Office)
Lee Beard - District One
One-Seventh St., Ste.1703
River Place Condos
Augusta, Georgia 30901
(706) 724-0916 (Home)
(706) 832-8331 (Message Ctr)
Marion Williams - District Two
1941 Kratha Drive
Augusta, Georgia 30906
(706) 733-2128 (Home)
(706) 821-1838 (Fax)
Steve Shepard - District Three
701 Greene Street
Augusta, Georgia 30901
(706) 736-8884 (Home)
(706) 722-4817 (Fax)
Richard Colclough - District Four
Mayor Pro-Tempore
3508 Monte Carlo Dr.
Augusta, Georgia 30906
(706) 821-1823 (Bus)
(706) 821-1838 (Fax)
Tommy Boyles - District Seven
2711 Boar's Head Drive
Augusta, Georgia 30907
(706) 863-5249 (Home)
(706) 821-1838 (Fax)
Ulmer Bridges - District Eight
P.O. Box 684
Hephzibah, Georgia 30815
(706) 592-5535 (Home)
(706) 821-1838 (Fax)
William Mays, 111- District Nine
1221 James Brown Blvd.
Augusta, Georgia 30903
(706) 722-6401 (Bus)
(706) 722-7018 (Fax)
Bill Kuhlke - District Ten
10 Indian Creek Road
Augusta, Georgia 30909
(706) 733-8863 (Home)
(706) 228-5526 (Fax)
11
AUGUSTA, GEORGIA - 2004 BUDGET
I~
IJ
I:
I,
I:
-
,I
,I
I
,I
I
;1
,I
:1
:1
'I
,I
:1
,I
;1
:1
I
I
~:I
--I
-r-~
Appointed Officials - December 31st, 2003
George R. Kolb
Administrator
530 Greene Street - Rm 801
Augusta, Georgia 30911
(706) 821-2400
(706) 821-2819 (Fax)
Frederick L.Russell
Deputy Administrator
530 Greene Street - Rm 801
Augusta, Georgia 30911
(706) 821-2400
(706) 821-2819 (Fax)
Walter S. Hornsby, III
Deputy Administrator
530 Greene Street - Rm 801
Augusta, Georgia 30911
(706) 821-2400
(706) 821-2819 (Fax)
Lena Bonner
Clerk of Commission
530 Greene Street - Rm 806
Augusta, Georgia 30911
(706) 821-1820
(706) 821-1838 (Fax)
David Persaud
Finance Director
530 Greene Street - Rm 207
Augusta, Georgia 30911
(706) 821-2429
(706) 821-2502 (Fax)
Jim Wall
County Attorney
454 Greene Street
Augusta, Georgia 30903
(706) 722-2488
(706) 722-5984 (Fax)
AUGUSTA, GEORGIA - 2004 BUDGET
-
,I
,I
,I
:1
il
'I
I
,I
1
,I
;1
JI
1
,I
;1
,I
,I
~I
--I
AUGUSTA, GEORGIA
ANNUAL FINANCIAL REPORT
_ For the Fiscal Year ended
December 31,2003
,I
,I
,I
,I
I
,I
,I
,I
,I
,I
1
I
,I
cl
,I
,I
I
~I
-I
-. .
. ~
. . .
CERTIFIED PUBLIC
ACCOUNTAt\TS &
CONSULTANTS
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
Augusta-Richmond County Commissioners
Augusta, Georgia
We have audited the accompanying fmancial statements of the governmental activities, the business-type activities,
each major fund and the aggregate remaining fund information of Augusta, Georgia as of December 31, 2003 and
for the year then ended, which collectively comprise Augusta's basic financial statements, as listed in the table of
contents. These financial statements are the responsibility of the Augusta, Georgia management. Our responsibility
is to express opinions on these basic fmancial statements based on our audit. We did not audit the fmancial
statements of the Augusta-Richmond County Department of Health. Those financial statements were audited by
other auditors whose report thereon has been furnished to us, and our opinion, insofar as it relates' to the amounts
included for the Department of Health, is based solely on the report of the other auditors.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America
and the standards applicable to fmancial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the basic fmancial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the basic financial
statements. An audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall basic financial statement presentation. We believe that our audit and
the report of other auditors provide a reasonable basis for our opinions.
In our opinion, based upon our audit and the report of other auditors, the basic financial statements referred to above
present fairly, in all material respects, the respective fmancial position of the governmental activities, the business-
type activities, each major fund and the aggregate remaining fund information of Augusta, Georgia, as of
December 31, 2003, and the respective changes in financial position and cash flows, where applicable, and the
respective budgetary comparison for the general fund and fire protection fund for the year then ended in conformity
with accounting principles generally accepted in the United States of America.
Management's Discussion and Analysis and the schedules of funding progress and employer contributions are not a
required part of the basic financial statements but are supplementary information required by the Governmental
Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries
of management regarding the methods of measurement and presentation of the required supplementary information.
However, we did not audit this information and express no opinion thereon.
In accordance with Government Auditing Standards, we have also issued our report dated May 21, 2004 on our
consideration of Augusta-Richmond County's internal control over fmancial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an
audit performed in accordance with Government Auditing Standards and should be read in conjunction with this
report in considering the results of our audit.
Our audit was performed for the purpose of forming opinions on the basic financial statements of Augusta, Georgia,
taken as a whole. The combining and individual fund statements and the accompanying schedule of expenditures of
Federal awards as required by u.s. Office of Management and Budget Circular A-I33, Audits of States, Local
Governments and Non-Profit Organizations for the year ended December 31, 2003, are presented for purposes of
additional analysis and are not a required part of the basic fmancial statements. Such information has been subjected
to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated, in
all material respects, in relation to the basic financial statements taken as a whole.
~,~.,.. 7~l."1'
Augusta, Georgia
May 21, 2004
2
r
1-
r
I-~'
1'-
I
I
1-
1-'
I:
I~
I',"
10
I,
I;
I~
I~
I
I'
Financial Highlights
I)
II
1111
I
r-l
IJ
11
I]
Management's Discussion & Analysis
The Management's Discussion and Analysis of the Comprehensive Annual Financial Report (CAFR) of
Augusta-Richmond County, Georgia (the "Government") provides an overall narrative and analysis of the
Government's [mandai statements for the fiscal year ended December 31, 2003. This discussion and
analysis is designed to look at the Government's financial performance as a whole. Readers should also
review the additional information provided in the transmittal letter, which can be found preceding this
narrative, and the complete financial statements, with notes, which follow this narrative, to enhance their
understanding of the Government's [mancial performance.
Key financial highlights for the year ended December 31, 2003 are as follows:
. The Government's combined net assets totaled $358 million.
Ii
1'1
. The Government's total net assets increased by $25 million, primarily due to capital spending
funded by the Special Purpose Local Option Sales Tax revenues and other tax revenues.
. Combined Revenue totaled $255 million, of which governmental activities totaled $175 million
and business-type activities totaled $80 million. Current year revenues increased less than 2%
from those ofthe prior year.
I]
Ii
11
11
II
. As of the close of the current fiscal year, the Govenunent's governmental funds reported
combined ending fund balances of $176 million, an increase of $11 million from the prior year.
Approximately 60% of this total amount, or $106 million, is available for spending at the
government's discretion (unreservedfund balance).
. At the end of the current fiscal year, unreserved fund balance for the General Fund was $31
million, or 32% of total General Fund expenditures for the fiscal year. Of this amount, $5 million
has been designated for other purposes, leaving $27 million, or 28% of total General Fund
expenditures, as undesignated.
. Overall expenses totaled $230 million of which governmental activities totaled $147 million and
business-type activities totaled $83 million. Current year expenses increased approximately 7%
over those of the prior year.
11
4
I:
I:
I:
I
1
. Expenses of govenunental activities exceeded program revenue, resulting in the use of $132
million in general revenues (mostly taxes).
. Total Outstanding Long-Term Debt, excluding compensated absences, decreas~d approximately
$2 million due to the continuing reduction in outstanding principal on existing debt
,I
,I
Overview of the Financial Statements
,I
,I
,
,I
This discussion and analysis is intended to serve as an introduction to the Government's basic financial
statements. The basic financial statements consist of three components: 1) government-wide financial
statements, 2) fund financial statements, and 3) notes to the fmancial statements. The basic financial
statements present two different views of the Government through the use of government-wide statements
and fund fInancial statements. In addition to the basic fmancial statements, this report contains other
supplemental information that will enhance the reader's understanding of the financial condition of the
Government.
:1
Required Components of Annual Financial Report
Figure 1
,I
1
I
Management's
Discussion and
Analysis
Basic
Financial
Statements
I
I
;1
Government-
Wide Financial
Statements
Fund
Financial
Statements
Notes to the
Financial
Statements
I
il
Summary
~ Detail
,I
Basic Financial Statements
,
,I
The frrst two statements in the basic fmancial statements are the Government-wide Financial Statements.
They provide both short and long-term information about the Government's fmancial status.
,I
The next statements are Fund Financial Statements. These statements focus on the activities of the
individual parts of Augusta-Richmond County, Georgia's government. These statements provide more
detail than the government-wide statements. There are four parts to the Fund Financial Statements: 1) the
governmental funds statements; 2) the budgetary comparison statements; 3) the proprietary fund
statements; and 4) the fiduciary fund statements.
:1
,I
The next section of the basic fmancial statements is the notes. The notes to the financial statements explain
in detail some of the data contained in those statements. After the notes, supplemental information is
provided to show details about the Government's non-major governmental funds and internal service funds,
all of which are added together in one column on the appropriate b,asic financial statements.
-,I
~I
5
~I
Government-wide Financial Statements
f1
1'1
IJ
Il
11
The Government-wide financial statements provide a broad view of the Government's operations in a
manner similar to a private-sector business. The statements provide both short-term and long-term
information about the Government's financial position, which assists in assessing the economic condition
at the end of the fiscal year. These statements are prepared using the flow of economic resources
measurement focus and the accrual basis of accounting. This means. the statements take into account all
revenues and expenses connected with the fIscal year even if cash involved has not been received or paid.
The government-wide financial statements include the following two statements:
fl
IJ
The Statement of Net Assets presents information on all of the Government's assets and liabilities, with
the difference between the two reported as net assets. Over time, increases or decreases in net assets may
serve as a useful indicator of whether the fmancial position of the Government is improving or
deteriorating.
IJ
I~]
The Statement of Activities presents information showing how the Government's net assets changed
during the most recent fiscal year. All changes in net assets are reported as soon as the underlying event
giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and
expenses are reported in this statement for some items that will not result in cash flows until future fiscal
periods (e.g. uncollected taxes and earned but unused vacation leave). This statement also presents a
comparison between direct expense and program revenues for each function of the Government.
1"1
I)
The government-wide statements are divided into three categories: 1) governmental activities, 2) business-
type activities and 3) component units. The governmental activities include most of the Government's basic
services such as general administration, judicial services, public safety, public works, health and welfare,
culture and recreation, and housing and development. Property taxes and state and federal grant funds
fmance most of these activities. The business-type activities are those services that the Government charges
a fee to customers in order to provide. These include Water and Sewer, Augusta Regional Airport, Waste
Management, Municipal Golf Course, Transit, Daniel Field Airport, Newman Tennis Center, Garbage
Collection, and the Riverwalk. The final category is component units. The Augusta-Richmond County
Board of Health is a public health department. Although legally separate from the Government, the
Government appoints a voting majority of the board.
['-I
I]
I)
11
I]
r 1
Ii
Fund Financial Statements
.6
f .~
Ij
I;
I~
I:
I
I
A Fund is a grouping of related accounts that is used to maintain control over resources that have been
segregated for specific activities or objectives. The Government, like other state and local governments,
uses fund accounting to ensure and demonstrate compliance with fmance-related legal requirements.
The fund fmancial statements focus on individual parts of the Government, reporting the Government's
operations in more detail than the government-wide statements. All of the funds of the Government can be
divided into three categories: governmental funds, proprietary funds and fiduciary funds. These fund
categories use different accounting approaches and should be interpreted differently.
I
I
Governmental Funds
I
Most of the basic services provided by the Government are fInanced through governmental funds.
Governmental funds are used to account for essentially the same functions reported as government
activities in the government-wide fInancial statements. However, unlike the government-wide statements,
these funds focus on how assets can readily be converted into cash and the amount of funds left at year-end
that will be available for spending in the next year. Governmental funds are reported using an accounting
method called modified accrual accounting, which focuses on current financial resources. Such information
may be useful in evaluating the government's short-term fmancing requirements. These statements provide
a detailed short-term view of the Government's finances that assists in determining whether there will be
adequate fmancial resources available to meet the Government's current needs. The relationship between
government activities in the government-wide fInancial statements and the governmental funds fInancial
statements is described in a reconciliation that is a part of the fund financial statements.
I
I
I
I
The Government has fIve governmental fund types: the General Fund, Special Revenue Funds, Debt
Service Funds, the Capital Projects Funds, and the Permanent Fund. Only four individual funds are being
considered major funds - the General Fund, Fire Protection, Special Purposes Local Option Sales Tax
Fund (SPLOST) Phase III and Special Purposes Local Option Sales Tax Fund (SPLOST) Phase IV.
I
Proprietary Funds
I
The Government has two types of proprietary funds used to account for activities that operate similar to
commercial enterprises found in the private sector. Funds that charge fees for services provided to outside
customers including other local governments are known as Enterprise Funds. These funds are used to
report the same functions presented as business-type activities in the government-wide financial statements.
Funds that charge fees for services provided to departments within the reporting government are known as
Internal Service Funds. Proprietary funds use the accrual basis of accounting, thus there is no
reconciliation needed between the government-wide fInancial statements for business-type activities and
the proprietary fund fInancial statements.
I
1
I
The Government has nine enterprise funds: Water and Sewer, Augusta Regional Airport, Waste
Management, Municipal Golf Course, Transit, Daniel Field Airport, Newman Tennis Center, Garbage
Collection, and the Riverwalk. The Government has seven internal service funds: Risk Management, Fleet
Operations, Workers Compensation, Employee Health Benefits, Unemployment, Long-Term Disability
Insurance and GMA Leases. The Water and Sewerage Fund and Augusta Regional Airport are the only
funds being considered major funds for presentation purposes.
I
I
I
Fiduciary Funds
I
The Fiduciary Funds are used to account for assets held by the Government as an agent for individuals,
private organizations, other governments and other Augusta-Richmond County departments. The
Government is responsible for ensuring that the assets reported in these funds are used only for their
intended purposes and only by those to whom the assets belong. These funds are not reflected in the
government-wide financial statements because the resources are not available to support the Government's
operations or programs.
I
I
I
7
Government-wide Financial Analysis
Comparative data for the entity-wide governmental activities and the business-type activities is provided
below.
The Government's Net Assets
December 31,2003 and 2002
Figure 2
Governmental, Business-type Governmental Business-type
Activities Activities. Total Activities Activities Total
,
2003 2003 2003 2002 2002 2002
Current and other assets $ 221,272,018 $ 217,765,947 $ 439,037,965 S 211,223,500 S 267,410,293 $ 478,633,793
Capital assets 218,091,918 30.5,509,501 523,601,419 205,796,966 252,479,150 458,276,116
Total assets 439,363,936 523,275,448 962,639,384 417,020,466 519,889,443 936,909,909
Long-term liabilities 21,876,904 321,369,475 343,246,379 30,054,792 326,938,096 356,992,888
Other liabilities 27,226,754 16,552,039 43,778,793 20,559,536 11,256,800 31,816,336
Totalliabilites 49,103,658 337,921,514 387,025,172 50,614,328 338,194,896 388,809,224
Net assets:
Invested in
capital assets, net
of related debt 2 to, 177, L83 147,635,885 357,813,068 195,964,885 133,280,493 329,245,378
Restricted 67,963,626 7,755,294 75,718,920 122,169,587 12,967,555 135,137,142
Unrestricted lL2,119,469 29,962,755 142,082,224 48,271,666 35,446,499 83,718,165
Total net 390,260,278 185,353,934 575,614,212 366,406,138 181,694,547 548,100,685
8
r
Il
Il
I~
I;
Il
1-]
Il
I]
11
'I
I]
11
IJ
I. I
)
I]
Ij
IJ
I;
I
I
I
Net Assets
Net assets may serve over time as one useful indicator of a government's financial condition. The assets of
the Government exceeded liabilities by $575.6 million as of December 31,2003.
I
The largest portion of the Government's net assets, $357.8 million or 62%, reflects its investment in capital
assets such as land, buildings, equipment and infrastructure (road, bridges, sidewalks, water lines and sewer
lines) less any related debt used to acquire those assets that is still outstanding. The Government uses these
capital assets to provide services to its citizens; therefore, these assets are not available for future spending.
Although the Government's investment in its capital assets is reported net of related debt, it should be
noted that the resources needed to repay this debt must be provided from other sources, since the capital
assets themselves cannot be used to liquidate these liabilities.
I
I
I
I
An additional portion of the Government's net assets, $76 million or 13%, represents resources that are
subject to external restrictions on how they may be used. The remaining balance of unrestricted net assets,
$142 million or 25%, may be used to meet the Government's ongoing obligations to citizens and creditors.
I
Several particular aspects of the Government's fmancial operations positively influenced the total
unrestricted governmental net assets:
I
· Continued diligence in the collection of property taxes by maintaining a collection percentage
of99% for real and personal property.
· Continued low cost of debt due to the County's high bond rating.
· Continued diligence in the maintenance of a 75 - 90 day unreserved fund balance designated
for operations in the General Fund.
I
I
I
I
I
I
I
I
-I
9
I
(]
The Government's Changes in Net Assets
For the Years Ended December 31,2003 and 2002
Figure 3
II
(]
IJ
Ij
Il
Ii
11
II
11
11
11
I;
11
I~
I,
I:
I
to
I
I
I
I
Government-Wide Expenses
I
. Water and Sewer
22%
o General Government
13%
I
. Other
1%
I
I
I
I
II Health and Welfare
1%
I
. Waste Management
m Garbage Collection
5% . Airports . Public Works
I
Government-Wide Revenues
I
II Grants and
contributions not
restricted to specific
programs
0%
. Unrestricted
investment earnings
4%
I!!l Gain on sale of
assets
0%
I
. Charges for servi
40%
I
I
I
-I
o Property Taxes
15%
o Capital grants and
contributions
2%
. Operating grants and
contributions
1%
I
. Other Taxes
37%
11
-I
I
Changes in Net Assets
Governmental activities. Governmental activities increased the Government's net assets by $23 million,
and thereby accounting for 92% of the total growth in the net assets of the Government. Key elements of
this increase are as follows:
I'
I'
Governmental Revenues. Property and tax other taxes continue as the main source of a
revenue of the Government amounting to 88% in 2003, compared to 76% in 2002. Sales tax
revenues contributed approximately $30 million to the increase in net assets.
I
Governmental Functional Expenses: As reflected in the summary of changes in Net
Assets, the Government expended 53% of the appropriations for judicial and public safety
expenditures. The Government continues to commit substantial fmancial resources for the safety
of its citizens. Other expenditures accounted for the remaining 47%.
I
I,
Business-type activities: Business-type activities increased the Government's net assets by
approximately $2 million accounting for 8% of the total growth in the government's net assets. Key
elements of this increase are as follows:
I
. The Waste Management Fund reported an increase in net assets of $353,000. This increase was
due to increase in user fees for services.
. The Water and Sewer Fund reported an increase in net assets of $1.8 million. This increase was
largely due to an increase in user charges due to the rate increase for new debts in 2002.
. The Augusta Regional Airport Fund reported an increase in net assets $1.7 million. This increase
was largely due to intergovernmental revenue received.
. Transit Authority net assets decrease of $783,000, primarily due to operating costs exceeding user
charges and grants.
I,
I'
Ii
Financial Analysis of the Government's Individual Funds
I
Augusta-Richmond County uses fund accounting to demonstrate compliance with fmance-related legal
requirements.
Governmental Funds
The focus of the Government's governmental funds is to provide information on near-term inflows,
outflows and balances of usable resources. Such information is useful in assessing the Government's
financial requirements. In particular, the unreserved fund balance may serve as a useful measure of a
government's net resources available for spending at the end of the fiscal year. The combined fund balance
of all the governmental funds is $176.2 million, of which $101.3 million, or 57.4%, is unreserved and
undesignated.
I.
I,
I
General Fund
The General Fund is the primary operating fund of the Government. At the end of the current fiscal year,
total fund balance of the General Fund was $32.2 million, of which $31.2 million, or 97%, was unreserved.
A portion of the unreserved fund balance in the General Fund is designated for risk benefit, in the amount
of $4.7 million. As a measure of the General Fund's liquidity, it may be useful to compare both
undesignated and designated fund balance to total fund expenditures. As of December 31, 2003, total
unreserved fund balance, both undesignated and designated, represents 32% of total general fund
expenditures.
I,
I,
I.
I:
12
I
I
J
I
The fund balance of the General Fund increased $929,000 (3%) as the Board of Commissioners makes a
collaborative effort to improve the reserve of the Government. A key factor to this increase was that actual
expenditures were under budget for 2003 in several areas. '
I
General Fund Budgetary Highlights
I
During the year, the Government revised the budget on several occasions. Generally, budget amendments
fall into one of five categories: 1) amendments to appropriate fund balance for encumbrances from the prior
year; 2) amendments made to adjust the estimates that are used to prepare the original budget resolution
once exact information is available; 3) amendments made to recognize new funding amounts from external
sources, such as Federal and State grants; 4) increases in appropriations that become necessary to maintain
services; and 5) amendments to transfer appropriations between departments. The fifth category has no
effect on the final budget and, therefore, is not addressed in this narrative. For example, included in the
original budget for the general government function was a contingency in the amount of approximately $1
million. During the year, the Government transferred these funds to other functions as needed. Total
amendments to the General Fund increased expenditures and revenues/other financing sources by only
$155,000 or <0.5%, an immaterial amount.
I
I
I
I
The actual operating revenues for the General Fund were more than the budgeted amount by $318,482, or
less than 1 %. The individual sources within the revenues fluctuated both positively and negatively. No
individual source materially varied from the final budget, except for other revenues. In order to balance
revenues with expenditures, the Government budgeted as a revenue $1.25 million of fund balance to be
used for capital expenditures.
,I
I
As a result of superior budget management by all departments of the Government, actual operating
expenditures were less than the budgeted amount by $1.7 million. For the year, actual revenue and other
financing sources exceeded actual expenditures and other financing uses by $1.9 million.
I
Capital Projects Funds
The Government uses Capital Projects Funds to account for the acquisition and construction of major
capital facilities that are not fmanced by Proprietary Funds. A major fund included in the fund financial
statements is the 2001-2005 SPLOST Fund. The proceeds of the special purpose 1% sales tax are
accounted for in this Capital Projects Fund until improvement projects are completed. The SPLOST
Fund's fund balance is $15.5 million, all of which is held for specific construction and improvement
projects and capital acquisitions. The increase in fund balance is due to the timing of the collection of
revenues as compared to project expenditures.
I
I
I
Proprietary Funds
The activities of the Government that render services to the general public on a user charge basis, or that
require periodic determination of revenues for public policy are accounted for as Enterprise Funds. The
Government's proprietary funds provide the same type of information found in the government-wide
statements but in more detail. Unrestricted net assets at the end of the year were as follows: Water and
Sewer System Fund, $21.5 million; Augusta Regional Airport, $11.7 million; Nonmajor Enterprise funds,
($3.1) million. The total growth (reduction) in net assets for previously mentioned funds were $1.8 million,
$248,000 and ($500,000), respectively. Other factors concerning the fmances of these funds have already
been addressed in the discussion of the Government's business-type activities.
I
I
I
I
I
13
Capital Assets and Debt Administration
11
(1
II
Ii
I
11
IJ
11
11
I]
11
IJ
Capital Assets
The Government's investment in capital assets for its governmental and business-type activities as of
December 31, 2003 amounts to $521.5 million (net of accumulated depreciation). This investment in
capital assets includes land, buildings, improvements, equipment, infrastructure and construction in
progress. Infrastructure assets are items that are normally immovable and of value only to the Government,
such as roads, bridges, streets and sidewalks, drainage systems and other similar items.
Major capital asset transactions during the year include:
· Site improvements at Hyde Park for $1.1 million
· Construction of multi-use hanger for $1.5 million
· Construction of Eisenhower Park Gym for $1.5 million
· Acquisition of land for water and sewer of $4.1 million
Additional information on the Government's capital assets can be found in Note 3 of the notes to the
financial statements of this report.
The Government's Capital Assets
(net of depreciation)
December 31,2003
Figure 4
Govenurental Business-type
Activities Activities Total
Land $ 16,651,955 $ 14,327,576 $ 30,979,531
Building; 53,453,727 24,904,721 78,358,448
I~verrents other than building; 6,215,655 2,340,643 8,556,298
Water and se\\el'age systems 160,406,857 160,406,857
Infrastructure 36,004,586 11,217,249 47,221,835
Vehicles, I1lIChinery and equiptrent 14,112,064 9,036, 127 23,148,191
Richnnnd County Public Facilities 2,109,247
Construction in progress 89,544,684 83,276,326 172,821,010
Total $ 218,091,918 $ 305,509,499 $ 521,492, 170
! 1
IJ
Ii
Ii
I:
11
I
I"
14
I
I
I
Long-Term Debt
I
As of December 31,2003, the Government had a total of$336.7 million in outstanding long-term debt. Of
this amount, $307.3 million consists of revenue bonds backed by the revenues of the water and sewer
system.
I
I
The Government's Outstanding Debt
General Obligation and Revenue Bonds
December 31, 2003 and 2002
Figure 5
I
GovernrrentaI
Activities
I3l.Nress-t)pe
Activities
Total
2003
2002
2003
2002
2003
2002
I
I
$
4,492,440
19,411,988
23,'Xl4,428 $
302,759,183
10,040,712
$ 312,799,895
$ - $
304,654,619
10,694,249
$ 315,348,868
- $
350,000
309,251,677
31,524,050
341,125,727
Genera1 oblil?fllion bonds
Revenue bonds
orer delt
Total delt
$
$
350,000 $
4,597,058
20,829,801
25,776,859
307,251,623
29,452,700
$ 336,704,323 $
I
I
350
300
250
200
150
100
50
I
I
G.O. Bonds
Revenue Bonds
Other Debt
I
The Government has maintained a bond rating of A+ from Standard & Poor's Rating Group and an A2
rating from Moody's Investor Service. These bond ratings are clear indications of the sound financial
condition of the Government. These high ratings are a primary factor in keeping interest costs low on the
Government's outstanding debt.
I
I
The State of Georgia limits the amount of general obligation debt that a unit of government can issue to 10
percent of the total assessed value of taxable property located within that government's boundaries. The
legal debt margin for the Government is $355 million.
Additional information regarding the Government's long-term debt can be found in Note 3 of the notes to
the financial statements of this report.
I
-I
15
I
I
I
Economic Factors and Next Year's Budget and Rates
I:
The following key economic indicators reflect the growth and prosperity of the Government.
. The Government has an unemployment rate of 5.5%, slightly higher than the state average of
4.6%.
· The ad valorem tax rate increased from $6.859 per $1000 to $7.4892 per $1000 of valuation.
I
Budget Highlights for the Fiscal Year Ending December 31, 2004
I'
Governmental Activities: The Ad Valorem Taxes are projected to remain at the 2003 level. The
2004 tax digest has shown a slight increase of less than 1 % primarily due to account corrections. Other
taxes are expected to increase between 1% to 3% with no significant increase in sales tax revenues. The
FY 2004 budget for the general fund is expected to be slightly above the 2003 level due to increase in the
property tax revenues and some modest reductions in expenditures. The general econornic climate for the
city government of 2004 is expected to be stable with an estimated 5% of fund balance appropriated for
budgeted expenditures. The undesignated fund balance should remain at 25% in reserves.
I,
I
Business - type Activities: Overall Water and Sewer reve~ue is projected to increase 11 % due to the
$149 million new debt issued in 2002 and the required rate increase to retire this debt. Airport revenue is
projected to increase based on the 2004 landing fees increase.
I:
I'
Requests for Information
This report is designed to provide an overview of the Government's finances for those with an interest in
this area. Questions concerning any of the information found in this report, or requests for additional
information should be directed to the Finance Director, Augusta-Richmond County, Georgia, 501 Greene
Street, Augusta, Georgia 30901. Questions concerning any of the information found in this report relating
to the Richmond County Board of Health should be directed to the Department of Health at 950 Laney
Walker Blvd., Augusta, Georgia 30901.
I
I;
I
I
I
I
I
I
I
16
I
Augusta, Georgia
Statement of Activities
Year Ended December 31, 2003
Program Revenues
Operating Capital
Charges for Grants aud Grants and
FunctionslPro2rams Expenses Services Contributions Contributions
Primary government:
GovenunentaJ activities:
General government $ 29,460,733 $ 13,951,515 $ 955,771 $
Judicial 12,450,759 8,776,700 389,900
Public safety 64,567,666 7,420,636 218,556 25,955
Public works 13,249,489 515,602 111,078 220,858
Health and welfare 2,619,851 137,877 13,052
Culture and recreation 16,920,689 800,545 926,208
Housing and development 7,182,503 3,792,942
Interest on long-term debt 433,690
Total governmental activities 146,885,380 31,602,875 2,614,565 4,039,755
Business-type activities:
Waste management 4,796,691 4,943,777 35,256
Water and sewer 50,260,882 44,799,544
Airports 11,745,792 10,857,560 131,903 1,489,857
Municipal golf course 649,170 645,525
Transit 4,020,263 722,803 898,972 260,216
Newman Tennis Center 304,677 218,386 7,136
Garbage Collection 11,030,722 6,644,314
RiverwaIk 250,849 58,830
Total business-type activities 83,059,046 68,890,739 1,073,267 1,750,073
Total primary government $ 229,944,426 $ 100,493,614 $ 3,687,832 $ 5,789,828
Component unit:
Richmond County Department of Health $ 14,205,297 $ 2,620,122 $ 10,084,022 $
I:
f
Il
--j
IJ
r-l
IJ
11
Ij
'-')
I]
11
General revenues:
Property taxes
Sales taxes
Franchise taxes
Other taxes
Unrestricted governmental revenues
Revenues from use of money and property
Gain on sale of assets
Miscellaneous
Transfers
Total general revenues and transfers
I]
I]
Change in net assets
I~
IJ
Net assets - beginning
Prior period adjustments
Net assets - beginning, as restated
Net assets - ending
The notes to the fmanciaI statements are an integral part of this statement.
I)
I;
I;
I
22
I,
I
I
Net (Expense) Revenue and
Changes in Net Assets
I Primary Government Department
Governmental Business-type of
Activities Activities Total Health
I $ (14,553,447) $ $ (14,553,447) $
(3,284,159) (3,284,159)
(56,902,519) (56,902,519)
I (12,401,951) (12,401,951)
(2,468,922) (2,468,922)
(15,193,936) (15,193,936)
(3,389,561) (3,389,561)
I (433,690) (433,690)
(108,628,185) (108,628,185)
182,342 182,342
I (5,461,338) (5,461,338)
733,528 733,528
(3,645) (3,645)
(2,138,272) (2,138,272)
I (79,155) (79,155)
(4,386,408) (4,386,408)
(192,019) (192,019)
(11,344,967) (11,344,967)
I (108,628,185) ., (11,344,967) (119,973,152)
I (1,501,153)
39,368,805 39,368,805
I 62,439,388 62,439,388
14,299,247 14,299,247
15,056,475 15,056,475
981,463 981,463 1,337,514
I 3,919,337 7,050,734 10,970,071 8,794
94,904 94,904
695,944 1,358,408 2,054,352
(4,878,890) 4,878,890
I 131,881,769 13,382,936 145,264,705 1,346,308
23,253,584 2,037,969 25,291,553 (154,845)
I 366,406,138 181,694,547 548,100,685 7,611,878
600,556 1,621,418 2,221,974 3,753
367,006,694 183,315,965 550,322,659 7,615,631
$ 390,260,278 $ 185,353,934 $ 575,614,212 $ 7,460,786
I
I
I
I
I 23
,1
II
Augusta, Georgia r-,
Balance Sheet II
Governmental Funds
'December 31, 2003 11
Fire Special Sales 11
General Protection Tax Phase III
Assets
Cash and temporary investments $ 19,436,883 $ 10,663,351 $ 49,475,918 Il
Receivables (net of allowance for doubtful accounts)
Taxes 3,801,985 522,859
Accounts 4,852,681 133,298 Il
Interest 26,719
Note 100,000
Intergovernmental 57,227
Prepaid items 57,997 75,000 11
Inventory 130,925
Restricted assets
Reserve account Il
Sinking fund account
Perpetual care
Due from other funds 13,928,207 53,531
Total assets $ 42,365,905 $ 11,239,741 $ 49,710,935 r_~1
Liabilities and fund balances II
Liabilities: r--l
Accounts payable $ 1,728,499 $ 78,613 $ 474,258 Ii
Due to other funds 100,000
Accrued salaries and vacation 2,469,406 620,241
Other accrued liabilities 1,412,755 '1
Deferred revenue 4,494,451 8,810,116
Total liabilities 10,205,111 9,508,970 474,258
Fund balances: 11
Reserved for:
Encumbrances 650,679 68,380 7,324,916 I]
Project Maintenance
Debt
Special purposes 106,44 7 32,764,282
Inventory/prepaid items 188,922 75,000 II
Designated for:
Risk benefit 4,705,061 250,000
Unreserved - undesignated 26,509,685 1,412,391 9,072,479 Ij
Unreserved, reported in nonmajor:
Special revenue
Debt service 1'--\
Capital projects I]
Permanent
Total fund balances 32,160,794 1,730,771 49,236,677
Total liabilities and fund balances $ 42,365,905 $ II,239,741 $ 49,710,935 Ii
The notes to the financial statements are an integral part of this statement. I
26 Ii
I
I
I Other Total
I Special Sales Governmental Governmental
Tax Phase IV Funds Funds
$ 58,757,602 $ 31,359,963 $ 169,693,717
I
2,863,614 7,188,458
2,397,570 882,832 8,266,381
I 86,667 II3,386
336,835 436,835
217,306 274,533
I 132,997
130,925
1,571,208 1,571,208
I 204,539 204,539
338,625 338,625
162,357 14,144,095
I $ 61,155,172 $ 38,023,946 $ 202,495,699
I $ 907,402 $ 1,066,686 $ 4,255,458
1,141,568 1,241,568
61,242 155,952 3,306,841
I 77,939 1,490,694
2,666,984 15,971,551
968,644 5,109,129 26,266,112
I
5,094,840 3,673,205 16,812,020
I 5,596,460 5,596,460
2,986,302 2,986,302
(5,094,840) 16,550,138 44,326,027
I 263,922
4,955,061
I 60,186,528 97,181,083
9,690,487 9,690,487
(474,252) (474,252)
I (5,388,479) (5,388,479)
280,956 280,956
60,186,528 32,914,817 176,229,587
I $ 61,155,172 $ 38,023,946 $ 202,495,699
I
I 27
I
.,
,I
~I
;1
Augusta, Georgia
Reconciliation of the Balance Sheet of Governmental Funds to the
Statement of Net Assets
December 31, 2003
Amounts reported for governmental activities in the statement of net assets are different because:
,
,I
Ending fund balance - governmental funds $
Capital assets used in governmental activities are not fmancial resources and, therefore, are
not reported in the funds.
;
;1
Other long-term assets are not available to pay for current-period expenditures and,
therefore, are deferred in the funds.
Adjustment of deferred revenue
Long-term notes receivable
Annual pension asset (liability)
,I
;
,I
;1
Internal service funds are used by management to charge the costs of risk management,
fleet operations, employee benefits, and GMA lease activity to individual funds. The
assets and liabilities of the internal service funds are included in governmental activities in
the statement of net assets.
,I
Long-term liabilities, including bonds payable and accrued interest, are not due and
payable in the current period and therefore are not reported in the funds.
Long-term liabilities
Bond issue costs capitalized
Accrued interest
)1
'I
Net assets of governmental activities
~I
I
,I
,I
,I
~I
The notes to the financial statements are an integral part of this statement.
29
I
176,229,587
217,851,576
5,870,794
2,794,169
179,218
8,844,181
256,608
(13,000,341)
173,767
(95,100)
(12,921,674)
$ 390,260,278
r->
Augusta, Georgia 11
Statement of Revenues, Expenditures and Changes in Fund Balances ")
Governmental Funds
Year Ended December 31,2003
Ii
Fire Special Sales
General Protection Tax Phase III IJ
Revenues
Taxes - property $ 25,264,680 $ 3,383,760 $
Taxes - other than property 41,485,449 7,779,134 11
Licenses and permits 1,344,602
Use of money and property 1,921,751 85,495 621,513
Charges for current services 16,01l,173 15,050 2,737
Fines and forfeitures 6,624,414 11
Intergovernmental 2,II4,173 1,053,221
Contributions and donations 8,487
Other 78, II 0 19,615 Ii
Total revenues 94,852,839 11,283,054 1,677,471
Expenditures
Current: I]
General government 21,701,088 961,131 200,230
Judicial 10,525,575
Public safety 41,986,133 16,203,602 ,ul
Public works 5,859,635 1,520,392 II
Health and welfare 2,049,197
Culture and recreation 10,796,229 650,444
, Housing and development r'"-,
1,501,551 IJ
Capital outlay 3,103,889 4,984,356
Debt service 117,392
Total expenditures 97,640,689 17,164,733 7,355,422 ('--,
Excess (deficiency) of revenues I]
over (under) expenditures (2,787,850) (5,881,679) (5,677,951)
Other financing sources (uses) 11
Transfers in 1,805,740 6,012,000
Transfers (out) (406,831)
Capital lease proceeds 2,317,703 I;
Proceeds of refunding bond
Payment ofrefunded debt
Total other fmancing sources (uses) 3,716,612 6,012,000 I')
Net change in fund balances 928,762 130,321 (5,677,951)
Fund balance - beginning 31,232,032 1,600,450 54,914,628 I~
Fund balance - ending $ 32,160,794 $ 1,730,771 $ 49,236,677
I~
The notes to the financial statements are an integral part of this statement. I:
I
30 I
,
I
I
,I Other Total
Special Sales Governmental Governmental
, Tax Phase IV Funds Funds
,I $ $ 11,369,821 $ 40,018,261
, 31,II5,877 II ,451 ,406 91,831,866
,I 2,961,828 4,306,430
620,572 661,477 3,910,808
5,435 3,151,597 19,185,992
il 1,486,039 8,110,453
4,190,164 7,357,558
269,738 278,225
, 585,686 683,411
,I 31,741,884 36,127,756 175,683,004
,I 593,006 1,256,026 24,711,481
467,908 10,993,483
206,880 2,780,402 61,177,017
il 1,878,579 3,813,432 13,072,038
476,547 , 2,525,744
592,694 3,650,391 15,689,758
I 5,872,764 7,374,315
11,493,226 1,519,013 21,100,484
794,171 3,499,882 4,4II,445
I 16,035,103 22,859,818 161,055,765
15,706,781 13,267,938 14,627,239
,I 825,571 8,643,311
(18,370) ( 14,402,030) (14,827,231)
2,317,703
,I 4,035,000 4,035,000
(3,863,767) (3,863,767)
(18,370) (13,405,226) (3,694,984)
,I 15,688,411 (137,288) 10,932,255
44,498,117 33,052,105 165,297,332
I $ 60,186,528 $ 32,914,817 $ 176,229,587
,I
"I
~I
31
I
I
I
Augusta, Georgia
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances of Governmental Funds to the
Statement of Activities
Year Ended December 31,2003
I
I
Amounts reported for governmental activities in the statement of activities are different because:
I
Net change in fund balances - total governmental funds
I
Governmental funds report capital outlays as expenditures. However, in the statement of
activities the cost of those assets is allocated over their estimated useful lives and
reported as depreciation expense. This is the amount by which capital outlay exceeded
depreciation in the current period.
I
Revenues in the statement of activities that do not provide current fmancial resources are
not reported as revenues in the funds.
I
Governmental funds report collections of long-term receivables as revenues. However,
in the statement of net assets the receivables are recorded, and collection of those
receivables reduce the principal amount recorded. This is the amount of current year
collections of notes receivable.
I
The issuance of long-term debt (e.g. bonds, leases) provides current financial resources
to governmental funds, while the repayment of the principal oflong-term debt consumes
the current fmancial resources of governmental funds. Neither transaction, however has
any effect on net assets. Also, governmental funds report the effect of issuance costs,
premiums, discounts, and similar items when debt is first issued, whereas these amounts
are deferred and amortized in the statement of activities. This amount is the net effect of
these differences in the treatment of long-term debt and related accounts.
Long-term liabilities
Bond issue costs capitalized
Accrued interest
I
I
I
I
The net revenue of certain activities of the internal service fund is reported with
governmental activities.
I
Change in net assets of governmental activities
'I
I
I
-I
The notes to the [mancial statements are an integral part of the is statement.
33
I
$ 10,932,255
II,791,01l
(506,994)
76,472
1,109,673
173,767
114,001
1,397,441
(436,601)
$ 23,253,584
11
Augusta, Georgia rl
General Fund I)
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Year Ended December 31,2003 I
Variance with
Budgeted Amounts Final Budget -
Actual Positive 2002 n
IJ
Revenues Original Final Amounts (Negative) Actual
Taxes - property $ 25,570,130 $ 24,728,570 $ 25,264,680 $ 536,110 $ 23,452,043 11
Taxes - other than property 41,729,810 41,729,810 41,485,449 (244,361 ) 40,951,853
Licenses and permits 1,322,660 1,322,660 1,344,602 21,942 2,172,307
Use of money and property 2,214,000 2,214,000 1,921,751 (292,249) 1,744,293 IJ
Charges for current services 14,631,260 14,681,760 16,01l,173 1,329,413 14,315,448
Fines and forfeitures 7,404,640 7,433,885 6,624,414 (809,471) 7,648,604
Intergovernmental 1,966,620 2,689,182 2,114,173 (575,009) 1,519,910
Contributions and donations 8,487 8,487 87 .1
Other 64,100 64,100 78,110 14,010 138,723
Total revenues 94,903,220 94,863,967 94,852,839 (11,128) 91,943,268
Expenditures Il
Current:
General government 22,665,210 21,508,093 21,701,088 (192,995) 20,519,887
Judicial 10,037,530 10,554,458 10,525,575 28,883 9,541,324 I]
Public safety 42,988,350 43,072,583 41,986,133 1,086,450 41,648,362
Public works 6,880,480 7,303,070 5,859,635 1,443,435 5,784,919
Health and welfare 2,049,920 2,263,187 2,049,197 213,990 2,041,700 IJ
Culture and recreation 11,213,690 11,132,344 10,796,229 336,115 10,467,424
Housing and development 1,471,530 1,720,890 1,501,551 219,339 1,969,401
Capital outlay 548,930 1,107,168 3,103,889 (1,996,721) 1,890,752
Debt service 147,290 147,290 117,392 ( 29,898 124,833 j]
Total expenditures 98,002,930 98,809,083 97,640,689 1,168,394 93,988,602
Excess (deficiency) of revenues
over (under) expenditures (3,099,710) (3,945,116) (2,787,850) 1,157,266 (2,045,334) r--l
Other financing sources (uses) Ii
Transfers in 3,176,910 4,036,312 1,805,740 (2,230,572) 3,120,299
Transfers (out) (77,200) (91,196) (406,831) (315,635) (537,428) [1
Capital lease proceeds 2,317,703 2,317,703 1,278,319 IJ
Total other financing sources
(uses) 3,099,710 3,945,116 3,716,612 (228,504) 3,861,190 11
Net change in fund balances $ $ 928,762 $ 928,762 1,815,856
i 1
Fund balance - beginning 31,232,032 29,416,176 I]
Fund balance - ending $ 32,160,794 $ 31,232,032
11
II
f 1
I.
,
I
34
I
.,
I
.,
I
"1
I
.,
,I
Augusta, Georgia
Fire Protection
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Year Ended December 31, 2003
Variance with
Budgeted Amounts Final Budget -
Actual Positive 2002
Original Final Amounts (Negative) Actual
$ 3,523,850 $ 3,399,030 $ 3,383,760 $ (15,270) $ 2,941,810
7,770,000 7,770,000 7,779,134 9,134 7,089,803
232,000 232,000 85,495 (146,505) 104,676
6,000 6,000 15,050 9,050 11,450
64,859 (64,859)
19,615 19,615 24,560
11,531,850 11,471,889 11,283,054 (188,835) 10,172,299
"Ievenues
j Taxes - property
1 Taxes - other than property
luse of money and property
, Charges for current services
" Intergovernmental
IOther
Total revenues
"IXpenditUreS
Current:
, General government
Public safety
IcaPital outlay
, Debt service
Total expenditures
',~CesS (deficiency) of revenues
:Iover (under) expenditures
658,970 620,970 961,131 (340,161) 1,133,756
16,992,880 17,245,575 16,203,602 1,041,973 15,928,544
17,000 54,855 54,855 8,482
125,000 125,000
17,668,850 18,046,400 17,164,733 881,667 17,070,782
(6,137,000) (6,574,511) (5,881,679) 692,832 (6,898,483)
6,137,000 6,574,511 6,012,000 (562,511) 6,512,306
6,137,000 6,574,511 6,012,000 (562,511 ) 6,512,306
$ $ 130,321 $ 130,321 (386,177)
1,600,450 1,986,627
$ 1,730,771 $ 1,600,450
, Other financing sources (uses)
rransfers in
, Total other financing sources (uses)
:, Net change in fund balances
und balance - beginning
,Ind balance - ending
,I
,I
,I
I
:1
I
35
11
Augusta, Georgia IJ
Statement of Net Assets
Proprietary Funds 11
December 31, 2003
Enterprise Funds Il
Water Augusta Other Internal
and Sewer Regional Enterprise Service
System Airport Funds Total Funds
Assets 'il
Current assets I)
Cash and temporary investments $ 26,092,976 $ 13,026,708 $ 11,118,635 $ 50,238,319 $ 960,466
Receivables (net of allowance for doubtful 11
accounts)
Taxes 632,531 632,531
Accounts 5,936,762 672,198 454,049 7,063,009 3,068,652
Interest 913,235 1,312 914,547 IJ
Intergovernmental 353,207 881,359 1,234,566
Inventory 1,435,013 181,388 238,448 1,854,849
Due from other funds 72,710 72,710 1-1
Total current assets 34,377,986 14,233,501 13,399,044 62,010,531 4,029,118
Noncurrent assets
Restricted cash and investments 162,681,573 162,681,573 13,098,945
Deferred bond issuance costs 4,154,589 4,154,589 r'l
Capital assets, net 270,365,483 25,435,367 9,708,651 305,509,501 240,342, IJ
Total noncurrent assets 437,201,645 25,435,367 9,708,651 472,345,663 13,339,287
Total assets $ 471,579,631 $ 39,668,868 $ 23,107,695 $ 534,356,194 $ 17,368,405
Liabilities 11
Current liabilities
Accounts payable $ 6,666,104 $ 636,191 $ 741,763 $ 8,044,058 $ 828,474 IJ
Accrued interest 3,948,582 3,948,582
Due to others 39,000 39,000
Due to other funds 5,702,212 1,663,879 3,538,534 10,904,625 433,451
Accrued salaries and vacation 633,225 186,943 305,548 1,125,716 36,300 11
Other accrued liabilities 162,907 162,907
Deferred revenue 650 650
Current portion of notes payable 428,936 428,936 f--.--..'
Current portion of leases payable 498,133 49,057 547,190 II
Current portion of revenue bonds payable 2,255,000 2,255,000
Total current liabilities 20,132,192 2,526,013 4,798,459 27,456,664 1,298,225
Noncurrent liabilities IJ
Closure/postclosure accrual 11,800,706 11,800,706
Revenue bonds payable 300,504,183 300,504,183 15,989,693
Notes payable 8,778,445 8,778,445 IJ
Capital leases 237,084 49,057 286,141
Total noncurrent liabilities 309,519,712 11,849,763 321,369,475 15,989,693
Total liabilities 329,651,904 2,526,013 16,648,222 348,826,139 17,287,918
(" 1
Net assets I;
Invested in capital assets, net of related debt 112,589,981 25,435,367 9,610,537 147,635,885 240,342
Restricted 7,755,294 7,755,294
Unrestricted 21,582,452 11,707,488 (3,151,064) 30,138,876 (159,855) IJ
Total net assets $141,927,727 $37,142,855 $6,459,473 $185,530,055 $80,487
Some amounts reported for business-type activities in the statement of net assets are different . ,
because of the following: I,
Certain intemal fund assets and liabilities are included with business-type activities. $ (176,121)
Total net assets for business-type activities $ 185,353,934
The notes to the financial statements are an integral part of this statement. I
, ,
36 I;
I Augusta, Georgia
I Statement of Revenues, Expenses, and Changes in Fund Net Assets
Proprietary Funds
Year Ended December 31, 2003
I Enterprise Funds
I Water Augusta Other Internal
and Sewer Regional Enterprise Service
System Airport Funds Total Funds
Operating revenues
ICharges and fees $ 45,135,821 $ 10,880,553 $ 13,323,385 $ 69,339,759 $ 24,365,459
Total operating revenues 45,135,821 10,880,553 13,323,385 69,339,759 24,365,459
Iperating expenses
Personal services and employee benefits 7,945,976 2,435,033 4,136,156 14,517,165 391,723
Purchased/contracted services 7,797,023 1,541,685 11,289,047 20,627,755 415,724
IsuPPlies 3,710,838 4,947,693 1,037,507 9,696,038 332,381
Repairs and maintenance 2,629,780 328,599 413,087 3,371,466 3,685,194
Interfund/interdepartmentalcharges 1,581,260 274,733 873,520 2,729,513 379
Other costs 25,000 108,310 774,212 907,522 98,787
IDepreciation 10,019,815 1,555,972 1,704,145 13,279,932 96,615
Closure/postclosure accrual 817,227 817,227
Lease expense 3,275,020
IRisk benefit charges 942,285
Insurance 15,896,194
Total operating expenses 33,709,692 11,192,025 21,044,901 65,946,618 25,134,302
terating income (loss) II,426,129 (3II,472) (7,721,516) 3,393,141 (768,843)
Nonoperating revenue (expense)
Interest revenue 6,760,818 173,169 116,749 7,050,736 350,598
Sale of property 90,854 4,050 94,904 300
Other revenue 597,492 30,705 628,197 147,292
Intergovernmental 1,236,414 1,474,183 2,710,597
nterest expense (16,442,576) (23,287) (76,512) (16,542,375) (342,069)
Total nonoperating revenue (expense) (9,590,904) 1,983,788 1,549,175 (6,057,941) 156,121
I;ome (loss) before transfers 1,835,225 1,672,316 (6,172,341) (2,664,800) (612,722)
ransfers in 100,000 4,828,890 4,928,890 182,288
Transfers out (50,000) (50,000) (182,288)
, lange in net assets 1,835,225 1,722,316 (1,343,451) 2,214,090 (612,722)
Total net assets - beginning 137,659,482 35,420,539 8,614,526 181,694,547 429,886
lior period adjustment 2,433,020 (811,602) 1,621,418 263,323
Total net assets - beginning, as restated 140,092,502 35,420,539 7,802,924 183,315,965 693,209
Ital net assets - ending $ 141,927,727 $ 37,142,855 $ 6,459,473 $ 185,530,055 $ 80,487
Ime amounts reported for business-type activities in the statement of net assets are different
cause of the following:
Certain internal fund assets and liabilities are included with business-type activities. (176,121)
fotal net assets for business-type activities $ 185,353,934
The notes to the financial statements are an integral part of this statement.
I 37
Augusta, Georgia 11
Statement of Cash Flows 11
Proprietary Funds
Year Ended December 31, 2003
Enterprise Funds 11
Water Augusta Other Internal 11
& Sewer Regional Enterprise Service
System Airport Funds Total Funds
Operating activities 'I
Cash received from customers $ 44,460,305 $ 11,539,987 $ 14,434,805 $ 70,435,097 $ 22,218,64; IJ
Cash received from contributions
Cash paid to suppliers (10,263,618) (10,211,208) (13,030,454) (33,505,280) (21,476,366)
Cash paid to employees (7,914,113) (4,086,856) (12,000,969) (387,075) r'-l
Cash paid for interfund services used 1,986,866 339,087 2,325,953 (379) II
Net cash provided by (used in)
operating activities 28,269,440 1,328,779 (2,343,418) 27,254,801 354,827
r-1
Noncapital financing activities I]
Transfers in 100,000 4,828,890 4,928,890 3,268,818
Transfers out (50,000) (50,000) - r;;-]
Operating grants 97,719 97,719 (1O,51~) IJ
Interest expense on operating capital (50,612) (50,612)
Other revenue 580,528 580,528 147,292
Net cash provided by non capital 11
financing activities 630,528 4,875,997 5,506,525 3,405,596
Capital and related financing activities
Proceeds from grants 1,055,171 586,771 1,641,942 '~-I
Proceeds from sale of property 90,854 4,050 94,904 29~ Ii
Proceeds from capital leases 711,253 711,253
Interest on bond funds 6,456,569 6,456,569
Other miscellaneous income 30,705 30,705 -11
Purchase of capital assets (60,797,745) (3,030,226) (762,779) (64,590,750) (3,555,46~) J
Interest paid on capital debt (16,064,318) (25,900) (16,090,218)
Principal paid on capital debt (1,462,904) (24,230) (1,487,134) -11
Principal paid on revenue bonds (2,175,000) (2,175,000)
Net cash provided (used) by capital and
related financing activities (73,241,291) (1,999,285) (167,153) (75,407,729) (3,555,160) J
I I
Investing activities IJ
Interest received 756,493 173,169 117,085 1,046,747 350,598
Net cash provided by investing activities 756,493 173,169 117,085 1,046,747 350,598
Net increase in cash and cash IJ
equ ivalents/investments (44,215,358) 133,191 2,482,511 (41,599,656) 555,861
Cash and cash equivalents/investments
Beginning of year 232,989,907 12,893,517 8,636,124 254,519,548 13,503,550 r ')
11
End of year $ 188,774,549 $ 13,026,708 $ 1l,1l8,635 $ 212,919,892 $ 14,059,411
Ii
The notes to the financial statements are an integral part of this statement Ii!
I
38 I,
,I
Augusta, Georgia
Statement of Cash Flows
Proprietary Funds
Year Ended December 31,2003
Enterprise Funds
Water Augusta Other Internal
& Sewer Regional Enterprise Service
System Airport Funds Total Funds
Reconciliation of operating income (loss)
to net cash provided by
(used in) operating activities
Operating income (loss) $ 1l,426,129 $ (311,472) $ (7,721,516) $ 3,393,141 $ (227,349)
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating
activities:
Depreciation 10,019,815 1,555,972 1,704,145 13,279,932 22,519
Closure/post closure costs 817,227 817,227
Change in assets and liabilities
Accounts receivable (675,515) 590,607 2,303,636 2,218,728 2,660,648
Due from other funds 160,211 160,211 1,031,374
Inventory 16,749 (7,417) (34,013) (24,681)
Taxes receivable (632,531) (632,531)
Accounts payable 1,782,318 (498,911) (87,261) 1,196,146 (463,653)
Accrued salaries and vacation 60,135 49,300 109,435 7,365
Other accrued liabilites (41,885) (41,885) 3,010
Due to other funds 5,592,976 1,138,619 6,731,595 (664,277)
Unearned revenue 650 650
Claims payable 46,833 46,833
Total adjustments 16,843,311 1,640,251 5,378,098 23,861,660 2,596,986
Net cash provided by (used in)
operating activities $ 28,269,440 $ 1,328,779 $ (2,343,418) $ 27,254,801 $ 2,369,637
:1
,I
11
,I
;1
,I
;,1
,I
11
I
:1
JI
"I
,I
I
I
-,1
The notes to the financial statements are an integral part of this statement
I
39
Augusta, Georgia
Statement of Fiduciary Net Assets
Fiduciary Funds
December 31, 2003
Private-purpose
Pension Trust Fund Agency
Trust Funds Joseph R. Lamar Funds
Assets
Cash and cash equivalents $ 4,363,721 $ 190 $ 7,639,528
Investments
U.S. Government securities 20,524,886
Corporate bonds 17,038,735
Equity securities 47,391,791
Real estate 1,700,000
Receivables (net of allowance for doubtful accounts)
Taxes 24,807,936
Interest 651,053
Restricted assets
Perpetual care 5,000
Due from other funds 100,000
Total assets $ 91,770,186 $ 5,190 $ 32,447,464
Liabilities
Accounts payable $ 9,167 $ $
Due to others 6,272,892
Due to other funds 370,525 1,366,636
Uncollected taxes 24,807,936
Total liabilities 379,692 $ 32,447,464
Net assets
Held in trust for pension benefits and other purposes $ 91,390,494 $ 5,190
The notes to the fmancial statements are an integral part of this statement.
40
jl
1'1
f:1
11
I
n
IJ
IJ
I)
r-'
IJ
i1
11
IJ
11
I,
Ii
I:
Ii
I:
I
I,
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
-I
I
Augusta, Georgia
Statement of Changes in Fiduciary Net Assets
Fiduciary Funds
Year Ended December 31,2003
Private-purpose
Pension Trust Fund
Trust Funds Joseph R. Lamar
Additions
Contributions $ 2,102,484 $
Net investment income 11,148,628 307
Transfers in 1,305,030
Total additions 14,556,142 307
Deductions
Other 175
Administration 590,585
Benefit payments 5,848,372
Refunds 225,313
Total deductions 6,664,270 175
Change in net assets 7,891,872 132
Total net assets - beginning 83,498,622 5,058
Total net assets - ending $ 91,390,494 $ 5,190
The notes to the financial statements are an integral part of this statement.
41
I
I
I
,I
--
,I
,I
I
I
;1
,I
:1
.1
,
:1
",I
,I
,I
,I
~I
I
AUGUSTA, GEORGIA
Notes to Financial Statements
Year Ended December 31,2003
Note 1 - Summary of significant accounting policies
Augusta, Georgia (''the Government") accounts for its financial position and results of operations in accordance with
accounting principles generally accepted in the United States of America (GAAP) applicable to governmental units. The
Government's reporting entity applies all relevant Government Accounting Standards Board (GASB) pronouncements. In
the government-wide fmancial statements and in the proprietary fund financial statements, the Government applies
Financial Accounting Standards Board (FASB) pronouncements and Accounting Principles Board (APB) opinions
issued on or before November 30, 1989, unless those pronouncements conflict with or contradict GASB pronouncements,
in which case, GASB prevails. Accordingly, the Government has adopted accounting policies, as described below.
A. Reporting entity
Augusta is located in the east central section of the state on the south bank of the Savannah River, which serves as the
boundary between Georgia and South Carolina. Augusta is on the fall line and has a landscape dotted with foothills
which descend to the coastal plain. Augusta is the head of the navigation on the Savannah River and is 135 miles east
of Atlanta, 127 miles northwest of the port of Savannah, and 72 miles southwest of Columbia, South Carolina.
Augusta is the trade center for 13 counties in Georgia and five in South Carolina, a section known as the Central
Savannah River Area.
The Government was created by legislative act in the State of Georgia in 1995 from the unification of the two
governments, the City of Augusta,. Georgia and Richmond County, Georgia. On June 20, 1995, the citizens of
Richmond County and the City of Augusta voted to consolidate into one government named Augusta, Georgia. The
officials for the new government were elected and, based on the charter, took office on January 1, 1996. The unified
government combined all functions and began financial operations January 1, 1996.
The Government is governed by a full-time Mayor, with a term of four years, and a ten member Commission, who
serve on a part-time basis and are elected to staggered terms of four years. The Mayor and Commission appoint an
Administrator who serves as a full-time administrative officer and is responsible for the daily operations of the
Government.
The Government's fmancial statements include the accounts of all Augusta and Richmond County operations. The
criteria for including organizations as component units within Augusta's reporting entity, as set forth in Section 2100
ofGASB's Codification of Governmental Accounting and Financial Reporting Standards, include whether:
· the organization is legally separate (can sue and be sued in their own name)
· the Government holds the corporate powers of the organization
· the Government appoints a voting majority of the organization's board
· the Government is able to impose its will on the organization
· the organization has the potential to impose a financial benefit/burden on the County
· there is fiscal dependency by the organization on the Government
Utilizing the above criteria, the following agencies and commissions were included using the blending method in the
financial statements: Augusta Port Authority, Downtown Development Authority, and Richmond County Public
Facilities, Inc. (see Note 4D).
Complete fmancial statements for the individual component units may be obtained at the following address: Augusta,
Georgia, Finance Department, 501 Greene Street, Augusta, Georgia 30901
The Government's other component unit, the Department of Health, is included in a separate column in the
accompanying government-wide financial statements. This unit is reported in a separate column to emphasize that it is
legally separate from the Government. Separate financial statements may be obtained from the Richmond County
Department of Health at 950 Laney Walker Blvd., Augusta, Georgia 30901
Richmond County Department of Health - A voting majority of the board is appointed by the Government.
45
AUGUST A, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 1 - Summary of significant accounting policies (Continued)
B. Basis of Presentation
Government-wide statements: The statement of net assets and the statement of activities display information about the
primary government. These statements include the fmancial activities of the overall government. Eliminations have
been made to minimize the double counting of internal activities. These statements distinguish between the
governmental and business-type activities of the Government. Governmental activities generally are financed through
taxes, intergovernmental revenues, and other non-exchange transactions. Business-type activities are fmanced in
whole or in part by fees charged to external parties. Likewise, the primary government is reported separately from
certain legally separate component units for which the primary government is fmancially accountable.
The statement of activities presents a comparison between direct expenses and program revenues for the different
business-type activities of the Government and for each function of the Government's governmental activities. Direct
expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to
a particular function. Program revenues include (a) fees and charges paid by the recipients of goods or services offered
by the programs and (b) grants and contributions that are restricted to meeting the operational or capital requirements
of a particular program. Revenues that are not classified as program revenues, including all taxes, are presented as
general revenues.
Separate fmancial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though
the latter are excluded from the government-wide fmancial statements. Major individual governmental funds and
major individual enterprise funds are reported as separate columns in the fund financial statements.
Fund financial statements: The fund fmancial statements provide information about the Government's funds.
Separate statements for each fund category - governmental, proprietary and fiduciary - are presented. The emphasis of
fund fmancial statements is on major governmental and enterprise funds, each displayed in a separate column. All
remaining governmental and enterprise funds are aggregated and reported as nonmajor funds.
Proprietary fund operation revenues, such as charges for services, result from exchange transactions associated with the
principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially
equal values. Nonoperating revenues, such as subsidies and investment earnings, result from non-exchange
transactions or ancillary activities.
The Government reports the following major governmental funds:
General Fund - The General Fund is the general operating fund of the Government. The General Fund accounts
for all financial resources except those that are required to be accounted for in another fund. The primary revenue
sources are ad valorem taxes, state grants, and various other taxes and licenses. The primary expenditures are for
public safety, recreation, street maintenance and improvements, and sanitation services.
Fire Protection Fund - The Fire Protection Fund is a special revenue fund that accounts for the receipts and
disbursements of tax revenues restricted for fire protection services in the unincorporated area only. The primary
revenue source is ad valorem taxes, and the primary expenditures are for public safety.
Special Sales Tax Phase III Fund - The Special Sales Tax Phase III Fund is a capital projects fund that accounts
for the receipts and disbursements of one percent (l %) sales tax currently collected from 1996 through 2000. The
primary revenue sources are sales taxes, and the primary expenditures are capital outlay projects, primarily for
public works, recreation and outside agency projects.
Special Sales Tax Phase IV Fund - This fund was established for expenditures specifically budgeted from
revenues from the one cent sales tax (Phase IV) collected from the years 2001 - 2005 to be used primarily for
public works, recreation and outside agency projects.
46
r-I
II
11
ill
11
11
CI
IJ
11
"'-1
Ii
r''-'l
I)
I]
I
IJ
I]
11
IJ
Ij
I~
I:
I
I:
I
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
I
Year Ended December 31,2003
I
Note 1 - Summary of significant accounting policies (Continued)
The Government reports the following nonmajor governmental funds:
I
Special Revenue Funds
Urban Services District Fund - This fund accounts for revenue primarily from ad valorem taxes from areas within
the former city limits and expenditures related to governmental services such as "Main Street", "Urban Street
Lights", and "Sanitation".
I
Emergency Telephone System Fund - This fund accounts for the receipt and disbursement of revenues of the
emergency telephone response system.
I
Capital Outlay Fund - This fund accounts for the disbursement of revenues for all capital expenditures in General
Fund departments. Capital expenditures are defmed as any non-disposable item over $500 which includes vehicles,
office and computer equipment, cornmunications equipment, building renovations and office furniture.
I
Law Enforcement Fund - This fund accounts for revenue and expenditures of the Sheriffs Department and Jail.
I
Occupational Tax Fund - This fund accounts for the receipt and disbursement of tax revenues restricted for fire
protection services in the unincorporated area only.
I
Special Assessment Fund - This fund accounts for the receipt and disbursement of street light assessment taxes for
the installation of street lights in the Government.
I
Promotionffourism Fund - This fund accounts for the receipt and disbursement of hotel/motel and beer/wine tax
revenues to the Augusta-Richmond County Convention & Visitors Bureau and the Augusta-Richmond County
Coliseum Authority.
1
Housing and Neighborhood Development Fund - This fund accounts for the financing and construction of various
community development projects from grants received from the U.S. Department of Housing and Urban
Development.
I
Urban Development Action Grant (UDAG) Fund - This fund accounts for loan transactions in relation to urban
development action grants. Repayments of initial grant revenue loaned to qualified recipients are restricted to
additional financing to qualified applicants.
I
Downtown Development Authority Fund - This fund accounts for funding it receives from the County and from
special tax on downtown merchants.
I
State Capital Grants Fund ~ This fund accounts for receipt and expenditure of the State Capital Grant, which is
restricted for capital expenditures only.
I
Law Library Fund - This fund accounts for revenue and expenditures of the Law Library.
I
5% Crime Victim's Assistance Fund - This fund accounts for the 5% surcharge on certain fmes with the proceeds
used for a victim's assistance program.
Supplemental Juvenile Service Fund - This fund accounts for supervisory fees collected on juvenile cases.
I
Building Inspection Fund - This fund accounts for building inspection revenues and expenditures.
-I
Weed and Seed Federal Grant Fund - This fund accounts for a grant designed to target high risk areas for teens
and weed out the bad influences and sow the seed for a better life.
I
47
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 1 - Summary of significant accounting policies (Continued)
Wireless Phase Fund - This fund accounts for activities associated with 911 charges for wireless service.
Community Greenspace Fund - This fund is used to acquire real property for the preservation of greenspace,
pursuant to the Georgia Greenspace Program as established in OCGA 36-22 et seq.
Perpetual Care I Fund - This' fund accounts for monies collected from sale of perpetual care contracts at
Government-owned cemeteries after October 1, 1970, as well as receipt of investment earnings on all perpetual care
investments and payment of cemetery maintenance expenditures.
Landbank Authority - This fund accounts for property owned by the County for the future progress of Augusta,
GA.
Federal Drug Fund - This fund accounts for activities associated with drug education and enforcement.
State Drug Fund - This fund accounts for activities associated with drug education and enforcement.
Debt Service Funds
Debt Service Fund - This fund accounts for general obligation bonds and notes payable and any other debts not
recorded in the Enterprise Funds.
Urban Debt Service Fund - This fund accounts for general obligation bonds related to the former City of Augusta.
Capital Proiects Funds
Community Development Fund - This fund accounts for the financing and construction of various community
development projects. Financing is provided by grants received from the U.S. Department of Housing and Urban
Development.
Special Sales Tax Phase I Fund - This fund accounts.for fmancing and construction of various road improvement
projects. Financing is provided by receipts from a 1987 special one percent local option sales tax referendum.
Special Sales Tax Phase II Fund - This fund accounts for fmancing and construction of various construction and
road improvements, drainage, jail improvements, and museums. Financing is to be provided by receipts from a
1991 special one percent local option sales tax referendum.
Permanent Fund
Perpetual care II Fund - This fund accounts for the principal originally donated for the sale of perpetual care
contracts at government-owned cemeteries after October 1, .1970. The principal must be maintained intact and
invested.
The Government reports the following major enterprise funds:
Water and Sewer System Fund - This fund is used to account for the activity of providing water and sewer
services to the residents of the County. All activities necessary to provide such services are accounted for in this
fund, including, but not limited to, operations, maintenance, fmancing and related debt service, and billing and
collection.
Augusta Regional Airport at Bush Field Fund - This fund accounts for the operations of Augusta Regional
Airport at Bush Field, the only airport within the County from which service from the major airlines is available.
48
f
t
'i
I)
11
IJ
IJ
(1
r':l
IJ
'1
I;
-\
IJ
I]
I]
! PI
I;
( I
IJ
I;
I)
11
r
I:
:1
-,I
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31,2003
,I
Note 1 - Summary of significant accounting policies (Continued)
The Government reports the following nonmajor enterprise funds:
~
,I
~
,I
Waste Management Fund - This fund accounts for the provision oflandfill services to residents and industries of
the County. All activities necessary to provide such services are accounted for in this fund including, but not
limited to, administration, operations, billing and collection.
Municipal Golf Course Fund - This fund accounts for the operation of the Municipal Golf Course, an 18-hole
golf course located within the city limits.
,
:1
'1
Transit Fund - This fund accounts for the operations of the Augusta Public Transit which provides scheduled bus
service within Richmond and Columbia counties.
Daniel Field Airport Fund - This fund accounts for revenue and expenses related to Daniel Field Airport.
,I
Newman Tennis Center Fund - This fund accounts for receipt and expenses related to the operations at Newman
Tennis Center.
Garbage Collection Fund - This fund accounts for receipt and expenses related to the Government's garbage
collection contract.
JI
Riverwalk Fund - This fund accounts for receipt and expenses related to the Government's Riverwalk.
,I-
Additionally, the Government reports the following fund types:
11
Pension Trust Fund - The Government has pension trust funds that account for the Government's employees'
pension plans. The Government maintains the following pension trust funds: 1945 Pension Trust Fund, 1977
Pension Trust Fund, and the General Retirement Fund.
I
Private Purpose Trust Fund - The Government has a private-purpose trust fund that accounts for resources
legally held in trust to finance awards for children attending Joseph R. Lamar School. The principal amount ofthe
gift is to be maintained intact and invested. Investment earnings are used for the awards. The Government
maintains the following private-purpose trust fund: Joseph R. Lamar Fund.
I
Agency Funds - Agency funds are custodial in nature and do not involve the measurement of operating results.
Agency funds are used to account for assets the Government holds on behalf of others. The Government
maintains the following agency funds: Tax Commissioner, which accounts for tax billings, collections and
remittances made by the Tax Commissioner on behalf of the County and other governmental agencies; Probate
judge, which accounts for the receipt and disbursement of licenses and other fees collected by the Probate Judge;
.Sheriff's Department, which accounts for the receipt and disbursement of funds collected by the department from
individuals posting bond; Civil Court, which accounts for the receipt and disbursement of court-ordered fmes, fees
and garnishments made on behalf of third parties; and Clerk of Court, which accounts for the receipt and
disbursement of court-ordered fmes and fees made on behalf of third parties and traffic violation fmes.
"I
I
,I
I
-:1
.1
49
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31,2003
Note 1 - Summary of significant accounting policies (Continued)
C. Measurement Focus and Basis of Accounting
Government-wide. Proprietary and Fiduciary Fund Financial Statements - The government-wide, proprietary fund and
fiduciary fmancial statements are reported using the economic resources measurement focus, except for agency funds
which have no measurement focus. The government-wide, proprietary fund and fiduciary financial statements are
reported using the accrual basis on accounting. Revenues are recorded when earned and expenses are recorded at the
time liabilities are incurred, regardless of when the related cash flows take place. Nonexchange transactions, in which
the Government gives (or receives) value without directly receiving (or giving) equal value in exchange, include
property taxes, grants, and donations. On an accrual basis, revenue from property taxes is recognized in the fiscal year
for which the taxes are levied. Revenue from grants and donations is recognized in the fiscal year in which all eligibility
requirements have be,en satisfied.
Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or privileges,
provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments.
Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general
revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and
expenses generally result from providing services and producing and delivering goods in connection with a proprietary
fund's principal ongoing operations. The principal operating revenues of the Government enterprise funds are charges
to customers for sales and services. The Government also recognizes as operating revenue the portion of tap fees
intended to recover the cost of connecting new customers to the system. Operating expenses for enterprise funds
include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and
expenses not meeting this defmition are reported as nonoperating revenues and expenses.
Governmental Fund Financial Statements - Governmental funds are reported using the current fmancial resources
measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when
measurable and available. "Measurable" means the amount of the transaction can be determined and "available" means
collectible within the current period. The Government considers all revenues available if they are collected within 60
days after year-end. Expenditures are recorded when the related fund liability is incurred, expect for principal and
interest on general long-term debt, claims and judgments, and compensated absences, which are recognized as
expenditures to the extent they have matured. General capital asset acquisitions are reported as expenditures in
governmental funds. Proceeds of general long-term debt and acquisitions under capital leases are reported as other
fmancing sources.
Those revenues susceptible to accrual are property taxes, licenses, interest revenues and charges for services. State-
shared revenues collected and held by the state at year-end on behalf of the Government also are recognized as revenue.
Fines, fees and permits are not susceptible to accrual because generally they are not measurable until received in cash.
Grant revenues which are unearned at year-end are recorded as unearned revenues. Under the terms of grant
agreements, the Government funds certain programs by a combination of specific cost-reimbursement grants,
categorical block grants, and general revenues. Thus, when program expenses are incurred, there are both restricted and
unrestricted net assets available to fmance the program. It is the Government's policy to first apply cost-reimbursement
grant resources to such programs, followed by categorical block grants, and then by general revenues.
50
11
11
~l
I]
Ill.
_I
fJ
~,
IJ
11
I]
11
11
'~"1
IJ
IJ
Ii
I:
I;
I.
I;
I~
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
AUljU~TA, liEUKlWIA
Notes to Financial Statements - Continued
Year Ended December 31,2003
Note 1 - Summary of significant accounting policies (Continued)
D. Budgets and budgetary accounting
The Government generally follows these procedures in establishing the budgetary data reflected in the [mancial
statements:
1. Budgetary hearings are held in October to discuss departmental budgets.
2. The Finance Committee presents the tentative budget to the Commission in November.
3. The permanent budget is legally adopted by the Commission prior to the start of the next fiscal year.
4. All budget revisions or changes must be approved as required by Georgia law and administrative policy. Transfer
of budgeted amounts between object categories within departments requires the approval of the Government's
Administrator. The Augusta-Richmond County Commission must approve revisions that alter the total
expenditures of any department or fund. Budgets for capital items are reappropriated in the ensuing year's budget.
Departments may request for other budget items to be reappropriated in the form of a budget adjustment,
contingent of the Commission's approvaL
5. Formal budgetary integration is employed as a management control device during the year for the General, Special
Revenue, Debt Service and Capital Projects Funds.
6. Budgets for these funds are adopted on a basis consistent with accounting principles generally accepted in the
United States of America (GAAP).
Budget information for expenditures represents the operating budget (as amended) as approved by the Augusta-
Richmond County Commission.
E. Encumbrances
Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure of
monies are recorded in order to reserve that portion of the applicable appropriation, is employed as an extension of
formal budgetary integration for the General Fund, Special Revenue Funds, Debt Service and Capital Projects Funds.
Encumbrances are recorded when purchase orders are issued but are not considered expenditures until liabilities for
payments are incurred. Encumbrances for outstanding purchase orders do not lapse at year end. Therefore, they are
reported as reservations of fund balance.
F. Cash and cash equivalents
The Government maintains a cash and investment pool in which the General Fund and all funds share. Each fund's
portion of the pool is displayed on its respective balance sheet as cash and cash equivalents and includes non-pooled
cash and investments separately held. Funds which have an excess of outstanding checks over bank balance have had
these balances reclassified as a due to the General Fund for purposes of [mancial statement presentation. Interest
income is allocated to each fund monthly based on its average monthly balance.
For the purposes of financial statement presentation, the Government considers all highly liquid investments with an
original maturity of one year or less, or with insignificant early withdrawal penalties, to be cash equivalents.
Exceptions include the Government's pension plans which classify only cash as cash equivalents in order to
appropriately report investment activity. Cash equivalents include amounts in certificates of deposit, repurchase
agreements, and U.S. Treasury bills, and are stated at cost which approximates market. All deposits are stated at cost
plus accrued interest, which reasonably estimates fair value.
The State statutes authorize the Government to invest in obligations of the United States government and agencies
thereof, general obligations of the State of Georgia or any of its political subdivisions, or banks and savings and loan
associations to the extent that they are secured by the Federal Deposit Insurance Corporation.
51
.tt..'-'U'-'", J..tt.., 'U~Vn.UJ..tt..
Notes to Financial Statements - Continued
Year Ended December 31,2003
Note 1 - Summary of significant accounting policies (Continued)
G. Investments
Investments are reported at fair value. Fair value is determined as follows: short-term investments are reported at cost,
which approximates fair value; securities traded on national exchanges are valued at current prices or current prices of
similar securities; securities for which an established market does not exist are reported at estimated fair value using
selling prices for similar investments for which there is an active market; fair value of real estate is based on appraised
values.
H. Inventories and prepaid expenses
Inventories in the governmental funds are valued at cost using the first-in, first-out method. Inventories in the
proprietary funds are valued at the lower of cost (fIrst-in, first-out) or market. The costs of governmental fund-type
inventories and prepaid expenses are recorded as expenditures when consumed rather than when purchased. Reported
inventories and prepaid expenses are equally offset by a fund balance reserve which indicates that they do not
constitute "available spendable resources".
I. Interfund receivables/payable and Internal Balances
During the course of operations, numerous transactions occur between individual funds for goods provided or services
rendered. These receivables and payables are classified as "due from other funds" or "due to other funds" on the
balance sheet of the fund fmancial statements and as "internal balances" on the statement of net assets in the
government-wide fmancial statements.
J. Bond discounts and issuance costs
Bond discounts and issuance costs for proprietary funds are deferred and amortized over the term of the bonds using
the effective-interest method. Bond discounts are presented as a reduction of the face amount of bonds payable,
whereas issuance costs are recorded as deferred charges.
K. Restricted assets
Certain assets of the Debt Service Fund and Enterprise Funds are classified as restricted assets on the balance sheet
because their use is limited by applicable debt covenants.
L. Capital assets
Capital assets are defined by the government as assets with an initial, individual cost of more than a certain cost and an
estimated useful life in excess of one year. Minimum capitalization costs are $5,000 for all categories of capital assets.
Purchased or constructed capital assets are reported at cost or estimated historical cost. Donated capital assets are
recorded at their estimated fair value at the date of donation. General infrastructure assets acquired prior to January 1,
2001, consist of the streets network that were acquired or that received substantial improvements subsequent to
January 1, 1980. The streets network is reported at estimated historical cost using deflated replacement cost. The cost
of normal maintenance and repairs that do not add to the value of the asset or materially extend assets' lives are not
capitalized.
Depreciation is computed using the straight-line method. A summary of the estimated useful lives is as follows:
Vehicles
Furniture and fIxtures
Machinery and equipment
Buildings and improvements
Water and Sewer systems
Infrastructure
5 years
7 years
10 years
20 years
30 years
30 years
52
II
I~
r=j
IJ
Il
11
f]
I~l
(1
IJ
'--1
I!
I]
11
I!
Ii
I:
I:
I,
I
I)
I
I
I
I
I
,I
I
I
I
I
I
I
I
I
I
I
I
-I
I
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 1 - Summary of significant accounting policies (Continued)
M. Compensated absences
The vacation policy of the City provides for the accumulation of up to thirty days earned vacation leave with such
leave being fully vested when earned. For the Government's government-wide fmancial statements and proprietary
fund fmancial statements, an expense and a liability for compensated absences and the salary-related payments are
recorded as leave is earned. The Government has assumed a frrst-in, first-out method of using accumulated
compensated time. The portion of that time that is estimated to be used in the next fiscal year has been designated as a
current liability in the government-wide financial statements.
No accrual has been established for accumulated sick leave of employees since it is the Government's policy to record
the cost of sick leave only when it is used.
N. Use of estimates
The preparation of fmancial statements in conformity with accounting principles generally accepted in the United
States of America requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and the reported amount of revenues and expenditures/expenses during the reporting period. Actual
results could differ from those estimates.
Note 2 - Stewardship, compliance and accountability
A. Excess of expenditures over appropriations
Nonmajor Governmental Funds
Law Library
Special Assessment
Downtown Development Authority
5% Crime Assistance
Expenditures
Budget Actual
Variance
Positive (Negative)
$ - $
1,257,020
426,320
383,000
$
15
1,525,129
672,780
397,654
(15)
(268,109)
(246,460)
(14,654)
B. Fund Balance or Net Assets
Following is a detail of funds with deficit fund balances or net assets. The Government plans to fund the deficits
through the general operations of the Government.
Nonmajor Governmental Funds
Emergency Telephone System
Special Assessment
Downtown Development Authority
Law Library
$ (133,726)
(16,177)
(86,794)
(22,576)
$ (201,647)
(608,281)
Nonmajor Enterprise Funds
Newman Tennis Center
Garbage Collection
Note 3 - Detailed notes on all funds
A. Deposits and investments
At December 31, 2003, the Government's cash and temporary investments balance on the balance sheet included
demand deposits, certificates of deposit, repurchase agreements, and local government investment pools. The cash
balance was secured by Federal Depository Insurance Corporation (FDIC) or Savings Association Insurance Fund
(SAIF) or by collateral held by the agent in the Government's name.
53
AUliUSTA, liJi;URGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 3 - Detailed notes on all funds (Continued)
The local government investment pool "Georgia Fund I", created by O.C.G.A. ~36-83-8, is a stable net asset value
investment pool which follows Standard and Poor's criteria for AAAm rated money market funds. However, Georgia
Fund 1 operates in a manner consistent with Rule 2a-7 of the Investment Company Act of 1940 and is considered to be
a 2a-71ike pool. The pool is not registered with the SEC as an investment company. The pool's primary objectives are
safety of capital, investment income, liquidity and diversification while maintaining principal ($1.00 per share value).
Net asset value is calculated weekly to ensure stability. The pool distributes earnings (net of management fees) on a
monthly basis and determines participant's shares sold and redeemed based on $1.00 per share.
At December 31, 2003, the carrying amount of the Government's deposits with financial institutions was $81,225,297
and the bank balance was $82,715,798.
Amount insured by the FDIC
Amount collateralized with securities held by
pledging institutions in the Government's name
$ 700,000
82,015,798
Total bank balance of deposits
$ 82,715,798
The Government's investments are shown by type, carrying amount, market value and level of risk assumed in the
holding of the various securities. At December 31, 2003 the County's cash and investment balances were as follows:
Category Carrying Market
2 3 Amount Value
Repurchase agreements $ 137,875,140 $ - $ - $ 137,875,140 $ 137,875,140
U.S. Government securities 22,446,692 41,147,399 63,594,091 63,594,091
Corporate securities 17,038,735 219,360 17,258,095 17,258,095
Equity securities 47,391,791 47,391,791 47,391,791
Local government investment pool 139,394,383 139,394,383
Carrying amount of deposits with
financial institutions 81,225,297 81,225,297
Deposits with investment houses 4,314,440 4,314,440
Certificates of deposits held by
investment houses 4,672,252 4,672,252
Cash on hand 25,754 25,754
$ 495,751,243 $ 495,751,243
The investments that are represented by specific identifiable investment securities are classified as to credit risk.
54
Il
I
11
Il
Il
,-,
IJ
(1
"-1
IJ
11
r-'1
IJ
'j
IJ
I)
11
I]
I~
I)
I;
I
I,
; 1 Receivables:
Taxes $
Accounts
,I ~~~t
Intergovernmental
Gross receivables
Less: allowance for
I uncollectibles
, Net total
receivables $
I
,
;1
:1
;1
;1
,
:1
,I
,I
'I
,
,I
,I
I
I
,I
-I
I
AU(;USTA, GEURGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 3 - Detailed notes on all funds (Continued)
The levels of risk assumed in the various investments are categorized as follows:
Category 1: includes the investments that are insured or registered or for which the securities are held by the
Government or its agent in the Government's name.
Category 2: includes uninsured and unregistered investments for which the securities are held by the bank's or
dealer's trust department or agent in the Government's name.
Category 3: includes uninsured and unregistered investments for which the securities are held by the bank or
dealer, or by its trust department or agent but not in the Government's name.
In addition on June 30, 2003, the carrying amount of the Department of Health's deposits was $1,667,735 and the bank
balance was $2,163,371. Of the bank balance, $400,000 was covered by federal depository insurance; the remaining
balance of $1,763,371 was covered by collateral held by the financial institution's agent in the Department's name.
The Department's deposits were composed of the following amounts:
Governmental activities
Fiduciary activities - agency funds
$ 1,200,480
467,255
$ 1,667,735
B. Receivables
Property taxes are administered on a calendar year basis subject to the following dates:
Lien date
Levy date
Collection period
Due date
January I
August 15
September 15 - November 15
November 15
Receivables at December 31, 2003, including the applicable allowances for uncollectible accounts, consist of the
following:
General
Special Special
Fire Sales Tax Sales Tax Water and Bush
Protection Phase ill Phase IV Sewer Field
$ 543,950 $ $ $ $ $
133,298 2,397,570 6,207,262 772,198
26,719 913,235
Nonmajor Nonmajor
Governmental Enterprise
Funds Funds Total
2,978,043 $ 1,296,602 $ 9,095,853
882,832 654,049 16,198,929
86,667 1,312 1,027,933
661,656 761,656
217,306 881,359 1,509,099
4,826,504 2,833,322 28,593,470
(439,250) (864,071) (2,469,224)
4,387,254 $ 1,969,251 $ 26,124,246
4,277,258
5,151,720
100,000
57,227
9,586,205
353,207
1,125,405
543,950
160,017
2,397,570
7,120,497
(774,312)
8,811,893 $
(21,091)
522,859 $
(270,500)
6,849,997 $
(100,000)
1,025,405 $
160,017 $
2,397,570 $
Total
Adjustments to
Full Accrual
Total
Taxes
Accounts
Interest
Note
Intergovernmental
$
9,095,853
16,198,929
1,027,933
761,656
1,509,099
$
$
9,095,853
19,267,581
1,027,933
3,555,825
1,509,099
3,068,652
2,794,169
Allowance
(2,469,224)
(2,469,224)
Net total receivables
$ 26,124,246
$ 5,862,821
$ 31,987,067
55
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 3 - Detailed notes on all funds (Continued)
Adjustments to full accrual relate to long-term notes receivable and internal service funds. Internal service funds
predominately serve the governmental funds. Accordingly, the internal service funds receivables balances are included
in goveinmental activities on the accompanying government-wide financial statement.
For the above-mentioned long-term notes receivable, the bank maintains records that are not recorded in the
governmental fund [mancial statements. These loans represent funds received through HUD's Housing Rehabilitation
Program. The Housing Rehabilitation Program is designed to fund improvements to homes owned and occupied by
persons in low to moderate-income ranges. In 1993, loans were also made to owners of rental units under a deferred
loan arrangement as part of the Housing Rehabilitation Program. Loans made for these projects vary as to amounts and
interest rates based on the level of income of the owner/occupiers. In the governmental fund financial statements,
repayments of these loans are recorded as other revenue in the Housing and Neighborhood Development Fund, a
nonmajor special revenue fund.
Finally, the Fiduciary fund fmancial statements include $24,807,936 in taxes receivable recorded in agency funds.
This amount is excluded from the foregoing schedule and represents the amount of receivables billed on behalf of other
governments in an agency relationship. Also, included in the Fiduciary fund fmancial statements and excluded from
the foregoing schedule are interest receivable totaling $586,485in the pension trust fund.
In a prior year, the former City of Augusta entered into an agreement with the Georgia Housing and Finance Authority
(GHF A) to aid in the administration of Federal funds granted through the State for HUD's Rental Rehabilitation
Program. The Government acts only in an administrative capacity and does not directly receive or disburse any funds
related to this project. Therefore, the receipts, disbursements and related notes receivable for the GRF A program have
not been included in the ftnancial statements.
56
I~
I~
IJ
I~
I]
I~
~'l
II
1-]
IJ
I~
1-1
IJ
I]
IJ
I~
I' ,
;
I:
I
I:
I AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
I Year Ended December 31,2003
Note 3 - Detailed notes on all funds (Continued)
I c. Capital assets
A summary of changes in capital assets is as follows:
I Governmental Activities
January I, December 31,
2003 Additions Disposals 2003
I Capital assets, not being depreciated
Land $ 15,784,481 $ 867,474 $ - $ 16,651,955
Construction in process 78,716,156 15,051,719 (4,223,191) 89,544,684
Total capital assets not being depreciated 94,500,637 15,919,193 (4,223,191) 106, 196,639
I Other capital assets:
Land and Site Improvements 9,314,207 1,463,085 10,777,292
Buildings 67,250,535 2,287,956 69,538,491
I Building improvements 6,631,102 83,068 6,714,170
Vehic1es 23,297,902 3,581,976 (912,162) 25,967,716
Machinery and equipment 7,318,138 370,098 7,688,236
I T - hardware 2,011,277 327,912 2,339,189
I IT - software 1,170,009 472,141 1,642,150
Fumiture and fixtures 1,087,487 1,087,487
Infrastructure 41,516,495 569,503 42,085,998
Richmond County Public Facilities 12,655,483 12,655,483
I Total other capital assets 172,252,635 9,155,739 (912,162) 180,496,212
Less accumulated depreciation for:
I Land and site improvements (4,132,789) (428,848) (4,561,637)
Buildings (18,819,592) (2,073,161 ) (20,892,753)
Building improvements (1,578,576) (327,605) (1,906,181)
Vehic1es (13,476,034) (3,586,761) 912,162 (16,150,633)
I Machinery and equipment (4,087,414) (596,398) (4,683,812)
I T - hardware (1,370,204) (341,756) (1,711,960)
IT - software (797,766) (201,313) (999,079)
I Furniture and fixtures (1,054,565) (7,049) (1,061,614)
Infrastructure (4,755,897) (1,325,515) (6,081,412)
Richmond County Public Facilities (10,546,236) (10,546,236)
Leasehold Improvements (5,616) (5,616)
I Total accumulated depreciation (60,619,073) (8,894,022) 912,162 (68,600,933)
Other capital assets, net 111,633,562 261,717 111,895,279
I Governmental activities capital assets, net $ 206,134,199 $ 16,180,910 $ (4,223,191) $ 218,091,918
Depreciation expense was charge to functions as follows:
Governmental activities
I Generalgovemment $ 3,301,308
Judicial 1,407,371
Public safety 2,859,656
I Health and welfare 94,105
Culture and recreation 1,129,837
Housing and development 5,130
Fleet 76,917
I Risk Management 19,698
$ 8,894,022
-I
I 57
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 3 - Detailed notes on all funds (Continued)
Business- Tvpe Activities: Balance Balance
December 31, December 31,
2002 Additions Disposals 2003
Water and Sewer
Capital assets, not being depreciated:
Land $ 4,292,942 $ 2,734,017 $ - $ 7,026,959
Construction in progress 32,134,462 56,332,927 (6,884,606) * 81,582,783
Total capital assets not being depreciated 36,427,404 59,066,944 (6,884,606) 88,609,742
Other capital assets:
Buildings 38,959,592 66,565 39,026,157
Vehicles 4,695,678 929,649 (417,667) 5,207,660
Machinery and equipment 5,641,631 503,697 (150,106) 5,995,222
Furniture and fixtures 421,374 421,374
Other capital 2,057,262 32,814 2,090,076
Water and sewerage systems 233,782,225 7,083,076 240,865,301
Contributed water and sewerage systems 10,563,423 10,563,423
Total capital assets being depreciated 296,121,185 8,615,801 (567,773) 304,169,213
Less accumulated depreciation for:
Buildings (19,500,163) (1,204,305) (20,704,468)
Vehicles (2,800,446) (1,118,153) 417,667 (3,500,932)
Machinery and equipment (4,582,292) (359,155) 149,713 (4,791,734)
Furniture and fixtures (410,891) (10,482) (421,373)
Other capital (1,866,086) (107,405) (1,973,491)
Water and sewerage systems (78,436,338) (6,711,900) (85,148,238)
Contributed water and sewerage systems (5,364,821) (508,415) (5,873,236)
Total accumulated depreciation (112,961,037) (10,019,815) 567,380 (122,413,472)
Other capital assets being depreciated, net 183,160,148 (1,404,014) (393) 181,755,741
Water and sewer capital assets, net $ 219,587,552 $ 57,662,930 $ (6,884,999) $ 270,365,483
* Disposals in Construction in progress are shown as additions to Capital assets being depreciated.
58
~1
II
I
Il
Ii
Il
11
11
11
11
11
11
11
I;
I)
I:
I'
Ii
I
I'
I
~I
JI
':1
~I
;1
,I
,I
;1
,I
,I
;1
,I
,I
,I
"I
,I
-.1
,I
59
AUuUSTA, uJ!:UKuIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 3 - Detailed notes on aU funds (Continued)
Balance Balance
December 31, December 31,
2002 Additions Disposals 2003
Nonmaior entemrise funds
Capital assets, not being depreciated
Land $ 2,616,361 $ - $ - $ 2,616,361
Construction in process 277,310 299,001 576,311
Total capital assets not being depreciated 2,893,671 299,001 3,192,672
Other capital assets:
Site and building improvements 1,729,712 152,415 1,882,127
Landfill Cell IIC 9,399,876 9,399,876
Buildings 3,212,244 3,212,244
Vehicles 4,608,272 198,759 (33,931) 4,773,100
MachineI)' and equipment 2,446,658 48,869 (169,797) 2,325,730
Furniture and fixtures 11,385 1l,385
Total capital assets being depreciated 21,396,762 411,428 (203,728) 21,604,462
Less accumulated depreciation for:
Site and building improvements (1,041,843) (67,371) (1,109,214)
Landfill Cell IIC (7,519,901) (935,747) 12,472 (8,443,176)
Buildings (1,017,378) (102,535) (1,1l9,913)
Vehicles (2,510,928) (493,417) 33,931 (2,970,414)
MachineI)' and equipment (1,447,816) (104,316) 107,125 (1,445,007)
Furniture and fixtures (759) (759)
Total accumulated depreciation (13,537,866) (1,704,145) 153,528 (15,088,483)
Other capital assets, net 7,858,896 (1,292,717) (50,200) 6,515,979
Nonmajor enterprise funds, net 10,752,567 (993,716) (50,200) 9,708,651
Business-type activities capital assets, net $ 254,301,233 $ 60,256,190 $ (9,047,922) $ 305,509,501
Depreciation expense was charged to business-type activities as follows:
Waste management
Water and sewer
Augusta regional airport
Municipal golf course
Daniel Field airport
Transit
$ 1,068,939
10,019,815
1,555,972
44,831
66,606
523,769
$ 13,279,932
60
'-'1
II
il
t
Il
11
IJ
r-l
IJ
11
'-1
IJ
'-1
IJ
r')
Ii
'-,
I]
']
IJ
-j
I]
I' "~
"
I;
I~
I
I~
AUliU~TA, liEUKlilA
1
Notes to Financial Statements - Continued
I
Year Ended December 31, 2003
Note 3 - Detailed notes on all funds (Continued)
I Capital asset activity for the Department of Health for the year ended June 30, 2003 was as follows:
I
July 1, June 30,
2002 Additions Disposals 2003
Capital assets, not being depreciated
Land $ 1,287,797 $ 150,000 $ $ 1,437,797
Other capital assets:
Buildings 5,324,398 654,087 5,978,485
Improvements 595,153 595,153
Equipment 82,129 17,700 99,829
Vehicles 134,215 32,586 (34,335) 132,466
6,135,895 704,373 (34,335) 6,805,933
Less accumulated depreciation (648,008) (190,980) 31,586 (807,402)
Other capital assets, net 5,487,887 513,393 (2,749) 5,998,531
Governmental activities capital assets, net $ 6,775,684 $ 663,393 $ (2,749) $ 7,436,328
D. Accounts payable and accrued liabilities
I
I
I
I
I
Payables for the Government at December 31, 2003 were as follows:
I Fund Financial Statements
Special Special Augusta Nonmajor Nonrnajor
Fire Sales Tax Sales Tax Water and Regional Governmental Proprietary
General Protection Phase ill Phase IV Sewer Airport Funds Funds Total
I Payables:
Accounts
, payable $ 1,728,499 $ 78,613 $ 474,258 $ 907,402 $ 6,666,104 $ 636,191 $ 1,066,686 $ 741,763 $ 12,299,516
Accrued interest 3,948,582 3,948,582
Accrued salaries
I and vacation 2,469,406 620,241 61,242 633,225 186,943 155,952 305,548 4,432,557
Other accrued
liabilities 1,412,755 77,939 162,907 1,653,601
T ota! accounts
I payable and accrued
liabilities $ 5,610,660 $ 698,854 $ 474,258 $ 968,644 $ 11,247,911 $ 823,134 $ 1,300,577 $ 1,210,218 $ 22,334,256
I
Payables:
Accounts payable
Accrued interest
Accrued salaries and
vacation
Other accrued liabilities
Government-wide Financial Statements
Adjustments to
Total Full-Accrual
Total
12,299,516 $
3,948,582
I
4,432,557
1,653,601
828,474 $ 13,127,990
95,100 4,043,682
(556,928) 3,875,629
1,653,601
366,646 $ 22,700,902
Total accounts payable
and accrued liabilities
$ 22,334,256
$
I
Adjustments to full-accrual basis include $95,100 related to accrued interest on governmental long-term debt,
$(556,628) relating to the reclassification of accrued vacation from accrued liabilities to liabilities due within one year, and
the remaining balance of $828,474 related to internal service funds. Internal service funds predominately serve the
governmental funds. Accordingly, the accounts payable and accrued liability balances for the internal service funds are
included in the governmental activities on the accompanying government-wide financial statement.
I
-I
I
61
AUljU~lA, hEUKt:ilA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 3 - Detailed notes on all funds (Continued)
Also, the fiduciary fund fmancial statements include $9,167 in other liabilities recorded in pension trust funds. This
amount is excluded from the foregoing schedule and represents amounts due to various other agencies, individuals or
governments.
E. DeferredlUnearned Revenues
The balance of deferred revenues in the fund fmancial statements (includes both the deferred and unearned amounts
disclosed below) and unearned revenues in the government-wide financial statements at year end is composed of the
following elements:
Taxes receivable net of allowance - General Fund
Taxes receivable net of allowance - Fire Protection Fund
Taxes receivable net of allowance - Nonmajor governmental funds
Grant income received in advance of being earned - General Fund
Grant income received in advance of being earned - Nonmajor governmental funds
Business license income received in advance of being earned - General Fund
Insurance premium income received in advance of being earned - Fire Protection Fund
Deferred Unearned
Revenue Revenue
$ 3,254,351 $
426,048
2,190,395
432,410
477,239
807,690
8,384,068
$ 5,870,794 $ 10,101,407
F. Landfill closure and postclosure costs
State and Federal laws and regulations require the Government to place a final cover on its landfill when closed and
perform certain maintenance and monitoring functions at the landfill site for thirty years after closure. In addition to
operating expenses related to current activities of the landfill, an expense provision and related liability are being
recognized based on the future closure and postclosure care costs that will be incurred near or after the date the landfill
no longer accepts waste. The recognition of these landfill closure and postclosure care costs is based on the amount of
the landfill used during the year. The estimated liability for landfill closure and postclosure care costs has a balance of
$11,800,706 as of December 31, 2003, which is based on 84.70% usage (filled) of Cell II C which is operating
currently, and 100% usage (filled) of Cells II A and II B. This liability is recorded in the Waste Management
Enterprise Fund. It is estimated that an additional $1,307,661 will be recognized as closure and postclosure care
expenses between the date of the statement of net assets and the date the landfill is expected to be filled to capacity,
which is in the next 2.05 years. The estimated total current cost of the landfill closure and postclosure care,
$13,108,366, is based on the amount that would be paid if all equipment, facilities, and services required to close,
monitor, and maintain the landfill were acquired as of December 31, 2003. However, the actual cost of closure and
postclosure care may be higher due to inflation, changes in technology, or changes in landfill laws and regulations.
The Government expects to finance the costs for the estimated landfill closure and postclosure care costs as they
become due during the coming thirty years through the regular operations of the Government.
G. Long-term debt
1. Governmental activities
General Obligation Bonds
$7,020,000 1973 Public Improvement Bonds - due in annual installments of $325,000 to $350,000,
plus interest at 4.75% to 5.5% through November 2003. $
62
f]
11
11
Il
11
IJ
11
11
IJ
11
IJ
I]
11
11
Ii
I,
IJ
I)
I,
,
,I
~I
~I
11
,I
:1
,I
:1
11
,I
II
;1
,I
,I
,I
I
I
~I
I
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 3 - Detailed notes on all funds (Continued)
In a prior year, a portion of the Certificates of Participation (Series 1993) was defeased by the creation of an irrevocable
trust fund. Original proceeds remaining from the issue were used to purchase U.S. Government securities that were
placed in a trust fund. The investments and fixed earnings from the investment are sufficient to fully service the
defeased debt until the debt matures. For financial reporting purposes, the debt is considered defeased and, therefore,
not included as a liability in the government-wide financial statements Funds. As of December 31,2003, the amount of
defeased debt outstanding but removed from the governmental debt is $1,355,000.
Notes pavable
Housing and Neighborhood Development:
Section 108 loan - due in annual installments of $65,000 to $1,010,000, plus interest at 9%,
through August 2005.
$ 1,080,000
Revenue bonds
Downtown Development Authority:
$2,600,000 1989 Downtown Development Authority Bonds - due in annual installments of
$125,000 to $270,000, plus interest at 7.4% through January 2010.
$
$3,816,000 1990 Downtown Development Authority Bonds - due in annual installments of
$170,000 to $375,000, plus interest at 7.55%, through January 2010.
$4,035,0002003 Downtown Development Authority Bonds - due in annual installments of
$535,000 to $615,000, plus interest at 2.56%, through January 2010.
4,035,000
Augusta Port Authority:
$1,200,0001993 Augusta Port Authority Bonds - due in monthly principal and interest
installments of $9,773 through April 2008.
457,440
Total
$ 4,492,440
Certificates of Participation
GMA Leases Fund:
$16,888,000 Certificates of Participation - principal due in a lump sum payment on June 1,2028.
Interest only payments are due annually at a rate of 4.75%, through June 1,2028.
Original issue amount $ 16,888,000
Original issue discount (898,307)
Total $ 15,989,693
Notes Payable Revenue Bonds Certificates of Participation Total
Year ending
December 31 Principal Interest Principal Interest Principal Interest Principal Interest
2004 $ 70,000 $ 125,064 $ 675,704 $ 118,206 $ - $ 802,180 $ 745,704 $ 1,045,450
2005 1,010,000 123,016 635,317 98,689 802,180 1,645,317 1,023,385
2006 655,923 79,195 802,180 655,923 881,375
2007 686,843 58,876 802,180 686,843 861,056
2008 623,653 39,032 802,180 623,653 841,212
2009-2013 1,215,000 31,296 4,010,900 1,215,000 4,042,196
2014-2018 4,010,900 4,010,900
2019-2023 4,010,900 4,010,900
2024 - 2028 16,888,000 3,542,962 16,888,000 3,542,962
$ 1,080,000 $ 248,080 $ 4,492,440 $ 425,294 $ 16,888,000 $ 19,586,562 $ 22,460,440 $ 20,259,936
63
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 3 - Detailed notes on all funds and account groups (Continued)
On April 15, 2003, the County issued Downtown Development Authority of the City of Augusta Refunding Revenue
Bonds, Series 2003, in the aggregate principal amount of $4,035,000, with interest rate of 2.56%, to current refund
$3,690,000 of outstanding Downtown Development Authority of the City of Augusta Revenue Bonds, Series 1989, with
interest of 7.4% and Downtown Development Authority of the City of Augusta, Georgia Parking Revenue Bonds, Series
1990, with interest of 7.55%. The net proceeds of $3,961,834 (after payment of $68,600 of issuance costs and $4;566 of
additional proceeds) were used to repay the Series 1989 and Series 1990 Downtown Development Authority Revenue
Bonds.
The County completed the current refunding to reduce its total debt service payments over the next 7 years by $448,624 and
.to obtain an economic gain (difference between the present values of the old and new debt service payments) of
approximately $400,000.
Certificates ofParticioation
In June 1998, the Government entered into a lease pool agreement with the Georgia Municipal Association. (the
"Association"). The funding of the lease pool was provided by the issuance of $150,126,000 Certificates of Participation
by the Association. The Association passed the net proceeds through to the participating municipalities with the
Government's participation totaling $16,888,000, shown net of original issue discount of 898,307 at $15,989,693. The
lease pool agreement with the Association provides that the Government owns their portion of the assets invested by the
pool and is responsible for the payment of their portion of the principal and interest of the Certificates of Participation. The
principal of $16,888,000 is due in a lump sum payment on June I, 2028. Interest is payable at a rate of 4.75% each year.
The Government draws from the investment to lease equipment from the Association. The lease pool agreement requires
the Government to make lease payments back into its investment account to fund the principal and interest requirements of
the 1998 GMA Certificates of Participation. Equipment in the amount of$3,176,124 was leased during 2003.
2. Business-we activities
Revenue bonds
Water and Sewer:
$149,400,0002002 Water and Sewer Bonds - due in annual installments of $235,000 to
$20,610,000 starting October 2002 thru October 2032, plus interest varying from 2/5-%
to 5.75% on $57,840,000 serial bonds, with interest of5.0% on $91,560,000 term bonds.
$ 148,260,000
$97,080,0002000 Water and Sewer Bonds - due in annual installments of $355,000 to
$11,105,000, plus interest at 4.4% to 5.25% through October 2030.
97,080,000
$66,640,0001996 Water and Sewer Bonds - due in annual installments of$920,000 to $4,445,000,
plus interest at 3.6% to 6.25% through October 2028 (this liability is reflected in the Water and
Sewer Fund net of deferred refunding amount of $2,020,740).
59,620,000
$5,910,0001997 Water and Sewer Bond - due in annual installments of$100,000 to $400,000,
plus interest at 3.6% to 5.25%, through October 2021. (This liability is reflected in the Water and
Sewer Fund net of deferred refunding amount of $41 0,549).
4,890,000
Total
Less: Deferred refunding amounts
Less: Bond issue discounts
309,850,000
(2,331,961)
(4,758,856)
Total
$ 302,759,183
64
11
Il
Il
Il
Ii
11
11
11
r'-'"l
II
11
I]
I]
11
I)
I]
I;
I;
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
-I
I
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 3 - Detailed notes on all funds (Continued)
Notes payable
Water and Sewer Fund:
State revolving loan - due in quarterly principal and interest installments of $94,668, plus interest
at 4%, through May 2016. $ 3,710,613
State revolving loan - principal and interest due in quarterly installments of $119,392, plus
interest at 4%, through July 2019. 5,496,768
Total $ 9,207,381
Business-type Activities
Year ending Notes Payable Revenue Bonds Total
December 3 1 Principal Interest Principal Interest Principal Interest
2004 $ 428,936 $ 307,911 $ 2,255,000 $ 15,610,614 $ 2,683,936 $ 15,918,525
2005 512,729 343,511 2,340,000 15,513,920 2,852,729 15,857,431
2006 533,548 322,692 2,785,000 15,421,480 3,318,548 15,744,172
2007 555,212 301,028 3,950,000 15,307,550 4,505,212 15,608,578
2008 577,756 278,484 4,825,000 15,122,208 5,402,756 15,400,692
2009-2013 3,260,308 1,020,890 34,800,000 71,676,925 38,060,308 72,697,815
2014-2018 2,987,762 346,759 46,240,000 61,971,719 49,227,762 62,318,478
2019-2023 351,130 7,046 59,435,000 48,773,725 59,786,130 48,780,771
2024-2028 76,555,000 31,655,862 76,555,000 31,655,862
2029-2033 76,665,000 9,903,163 76,665,000 9,903,163
$ 9,207,381 $ 2,928,321 $ 309,850,000 $ 300,957,166 $ 319,057,381 $ 303,885,487
During 2002, the Government issued $149.4 million in Series 2002 Water and Sewerage Revenue bonds. A portion of
the proceeds from the sale of these bonds was used to pay the outstanding balance of the Georgia Environmental
Facilities Authority revolving loan in the amount of $8,815,000 with an interest rate of 5.5%. The remaining portion of
the bond proceeds $140,585,000 was issued for the purpose of financing the costs of making additions, extensions and
improvements to the Utility's water and sewer system. A portion of the net proceeds of $8,692,368 (after payment of
$153,574 of underwriting fees and other issuance costs) was used to repay the Georgia Environmental Facilities
Authority revolving loan. The remaining portion of the proceeds of $125,691,320 (after payment of $2,748,066 of
underwriting fees and other issuance costs) plus an additional $11,753,672 of funds from a capitalized interest fund is to
be used for improvements to the Utility's water and sewer system.
No difference resulted in the current refunding between the reacquisition price and the net carrying amount of the old
debt. The Government completed the refunding to obtain an economic gain (difference between present values of the
old and new debt service payments) of approximately $792,000.
During 2000, the Government issued $97.08 million in Series 2000 Water and Sewer Revenue bonds for the purpose of
financing the costs of making additions, extensions and improvements to the Utility's water and sewer system.
During 1996, the Government issued $66.6 million in Series 1996 Water and Sewer revenue bonds. A portion of the
proceeds from the sale of these bonds was used to advance refund all of the former City of Augusta's Series 1972 and
1991 Water and Sewer revenue bonds and the former Richmond County's Series 1987 and 1991 Water and Sewer
revenue bonds. Proceeds of $19.4 million plus an additional $4.9 million of sinking fund monies from the defeased
issues were used to purchase U.S. government securities. Those securities were deposited in an irrevocable trust fund
with an escrow agent to provide for all future debt service payments on the above-mentioned bonds. As a result, the
bonds are considered to be defeased and the liabilities for those bonds have been removed from the Water and Sewer
Fund.
65
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31,2003
Note 3 - Detailed notes on all funds (Continued)
In 1997, the Government issued $5.9 million in Series 1997 Water and Sewer Revenue Bonds. A portion of the
proceeds from the sale of these bonds was used to advance refund all of the former Richmond County's Series 1986
Water and Sewer Revenue Bond. Proceeds of approximately $5.6 million plus an additional $.9 million of sinking fund
monies from the defeased issues were used to purchase U.S. government securities. Those securities were deposited in
an irrevocable trust fund with an escrow agent to provide for all future debt service payments on the above-mentioned
bonds. As a result, the bonds are considered defeased and the liability for those bonds have been removed from the
Water and Sewer Fund.
As of December 31, 2003, the amount of these defeased debts outstanding but removed from the Water and Sewer Fund
is $2,595,281.
The advance refunding during 1996 resulted in a difference between the reacquisition price and the net carrying amount
of the old debt of approximately $2.5 million. This difference, reported in the accompanying financial statements as a
deduction from bonds payable, is being charged to operations through the year 2028 using the effective-interest
method. The refunding increased the total debt service payments over the next 30 years by approximately $8.6 million
and produced an economic gain of approximately $260,000.
The advance refunding during 1997 resulted in a difference between the reacquisition price and the net carrying amount
of the old debt of approximately $540,000. This difference, reported in the accompanying financial statements as a
deduction from bonds payable, is being charged to operations through the year 2021 using the effective-interest method.
The refunding will increase total debt service payments over the next 24 years by approximately $2.1 million and will
produce an economic gain of approximately $110,000.
The Department of Health's long-term liabilities represent compensated absences. The debt for compensated absences
was $563,942 at June 30, 2003.
H. Leases
The Government has entered into several long-term lease agreements for various vehicles and machinery and
equipment. Although the leases contain clauses which provide that the leases are cancelable if funds are not
appropriated for the periodic payments for any future fiscal periods, the leases meet the criteria of a capital lease as
defmedby Statement of Financial Accounting Standards No. 13 Accounting for Leases and the National Council on
Governmental Accounting Statement No. 5 Accounting and Financial Reporting Principles for Lease Agreements of
State and Local Governments.
The Government's lease agreements are through the Georgia Municipal Association and are accounted for in an
internal service fund. Interest amounts are not material to the fmancial statements.
Future minimum lease payments under the leases and the net present value of the minimum lease payments as of
December 31,2003 are as follows:
Governmental Business-type
Activities Activities
2004 $ 1,326,735 $ 547,190
2005 901,195 286,141
2006 90,302
2007 24,063
Present value of lease payments $ 2,342,295 $ 833,331
66
11
tl
11
'-1
IJ
11
~-1
II
(J
I~J
Ij
(1
I']
I]
Ij
I~
I:
I'
1-,
I~
Ii
I
I
I
I
I
I
I
I
I
I
,I
I
I
I
I
I
I
-I
I
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 3 - Detailed notes on all funds (Continued)
The Government is lessor of terminal space, land and buildings at Augusta Regional Airport at Bush Field and Daniel
Field under various operating leases. Revenues and related expenses for Augusta Regional Airport at Bush Field are
recorded in the Augusta Regional Airport at Bush Field Fund while the revenue and related expenses for Daniel Field
are recorded in the Daniel Field Airport Fund. Some of the leases provide for additional payments based on usage
activity in addition to non-cancelable amounts of fixed rates.
During 2003, rental income totaled approximately $2.lmillion and $91,000 in the Augusta Regional Airport at Bush'
Field and Daniel Field Airport Funds, respectively.
The assets acquired through capital leases as of December 31, 2003 are as follows:
Governmental Business-type
Activities Activities
Vehicles $ 13,061,844 $ 2,503,270
Machinery and equipment 2,495,395 1,747,129
Less: accumulated depreciation (8,349,522) (1,104,169)
Carrying value $ 7,207,717 $ 3,146,230
I. Changes in long-term liabilities
The following is a summary of long-term debt transactions of the year ended December 31, 2003:
Beginning Ending Current
Balances Additions Reductions Balances Portion
Governmental activities:
Bonds and notes payable:
General obligation bonds payable $ 350,000 $ - $ 350,000 $ - $
Notes payable 1,145,000 65,000 1,080,000 70,000
Revenue bonds payable 4,597,058 4,035,000 4,139,618 4,492,440 675,704
Total bonds and notes payable 6,092,058 4,035,000 4,554,618 5,572,440 745,704
Certificates of participation 16,888,000 16,888,000
Less: original issue discount (943,222) (44,915) (898,307) (44,915)
Total certificates of participation 15,944,778 (44,915) 15,989,693 (44,915)
Other liabilities:
Compensated absences 3,213,298 3,569,693 3,122,569 3,660,422 3,660,422
Capital leases 3,740,023 2,3 17,703 3,715,431 2,342,295 1,326,735
Claims and judgments 1,064,635 1,671,958 1,311,409 1,425,184 1,425,184
Total other liabilities 8,017,956 7,559,354 8,149,409 7,427,901 6,412,341
Governmental activities long-term
liabilities $ 30,054,792 $ 11,594,354 $ 12,659,112 $ 28,990,034 $ 7,113,130
67
AUGUST A, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 3 - Detailed notes on all funds (Continued)
Beginning Ending Current
Balances Additions Reductions Balances Portion
Business-type activities:
Revenue debt:
Revenue bonds payable $ 312,025,000 $ $ 2,175,000 $ 309,850,000 $ 2,255,000
Less: deferred refunding amounts (2,431,289) ( 99,328) ( 2,331,961)
Less: bond issue discounts (4,939,092) (l80,236) ( 4,758,856)
Total revenue debt 304,654,619 1,895,436 302,759,183 2,255,000
Other liabilities:
Compensated absences 566,728 584,830 558,331 593,227 593,227
Notes payable 9,683,367 475,986 9,207,381 428,936
Capital leases 1,010,882 858,421 1,035,972 833,331 547,190
Closure/postc\osure accrual 11,022,500 817,227 39,021 1l,800,706
Total other liabilities 22,283,477 2,260,478 2,109,310 22,434,645 1,569,353
Business-type activities long-term
liabilities $ 326,938,096 $ 2,260,478 $ 4,004,746 $ 325,193,828 $ 3,824,353
J. Interfund balances and activities
Due Fromffo Other Funds
The composition of interfund balances as of December 31, 2003 are as follows:
Due to other funds
Water and
Due from General Sewer Bush Nonmajor Nonmajor Internal Trust and
other funds Fund Fund Field Governmental Enterprise Service Agency Total
General Fund $ $ 5,702,212 $ 1,663,879 $ 1,141,568 $ 3,538,534 $ 433,451 $ 1,448,563 $ 13,928,207
Fire Protection
Fund 53,531 53,531
Nonmajor
Governmental
Funds 162,357 162,357
Nonmajor
enterprise funds 72,710 72,710
Trust and agency
funds 100,000 100,000
Total interfunds
balances $ 100,000 $ 5,702,212 $ 1,663,879 $ 1,141,568 $ 3,538,534 $ 433,451 $ 1,737,161 $ 14,316,805
Amounts were due to other funds primarily for timing of payments from agency funds.
Transfers TolFrom Other Funds
Transfers in (out) for the year ended December 31, 2003 are summarized below:
Fire
General Protection Bush Nonmajor Nonmajor Trust
Transfers out Fund Fund Field Governmental Enterprise & Agency Total
General Fund $ - $ $ $ 406,831 $ $ $ 406,831
Special Sales
Tax Phase IV 18,370 18,370
Bush Field 50,000 50,000
Nonmajor
governmental 1,805,740 6,012,000 100,000 418,740 4,760,520 1,305,030 14,402,030
$ $
Total transfers $ 1,805,740 6,012,000 $ 100,000 $ 825,571 4,828,890 $ 1,305,030 $ 14,877,231
68
11
Il
11
11
Il
1'"01
j
11
"'1
IJ
I]
'-~
II
'1
I]
I)
I:
I:
I:
I:
I'
I
I
'I
,I
I
'I
I
,I
.1
,I
)1
:1
jl
;1
,I
,I
.1
:1
,I
-I
I
AUGUST A, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31,2003
Note 3 - Detailed notes on all funds (Continued)
Transfers between the nonmajor governmental funds, the General fund and other nonmajor governmental funds were
primarily to support the operation of the funds.
Note 4 - Other information
A. Risk management
The Government is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors
and omissions; and natural disasters for which the Government is self-insured. The Risk Management Funds (an
internal service fund) are utilized by the Government to account for and fmance its self-insured risks of loss. The Risk
Management Funds are maintained to provide general liability insurance, workers' compensation coverage, and
unemployment coverage. The Government is self-insured for workers' compensation coverage through a self-
insurance program that is administered under contracts with a third party administrator. Future claims can be paid
from designated funds established in 1987 from previously unrestricted-unreserved funds. Balances as of December
31, 2003, include the following:
General Fund
Fire Protection Fund
Internal Service Fund
$ 4,705,061
250,000
564,243
Total reserve
$ 5,519,304
Related liabilities are reported when it is probable that a loss has occurred and the amount of the loss can be reasonably
estimated. Liabilities include an amount for claims that have been incurred but not reported (IBNRs). Claim liabilities
are calculated considering the effects of inflation, recent claim settlement trends including frequency and amount of
payouts and other economic and social factors.
The following represents the changes in the balance of claim liabilities for the Government from January 1, 2002 to
December 31, 2003:
Unpaid claims, January 1,2002
Incurred claims (including IBNRs)
Claim payments
Unpaid claims, December 31,2002
Incurred claims (including IBNRs)
Claim payments
$ 450,000
1,661,912
(1,047,277)
1,064,635
1,671,958
(1,311,409)
Unpaid claims, December 31,2003
$ 1,425,184
B. Contingent liabilities
Litigation
The Government is party to various legal proceedings which normally occur in governmental operations. The
Government follows the practice of recording liabilities resulting from claims and legal actions only when they become
probable and measurable. The Government has accrued a liability in the Risk Management Fund (an internal service
fund) for all claims for which a loss is probable and measurable.
Possible unasserted claims
The Government participates in a number of Federal and state assisted grant programs, which are subject to program
compliance audits under the Single Audit Act Amendments of 1996. An audit of these programs has been performed
for the year ended December 31, 2003, in compliance with the Single Audit Act Amendments of 1996 and OMB
Circular A-133. However, the audit is pending final acceptance by the various grantor agencies. The amount, ifany,
of expenditures, which may be disallowed by the granting agencies, is expected to be immateriaL
69
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 4 - Other information (Continued)
C. Contracts and commitments
Augusta-Richmond County Coliseum Authoritv
The Government has committed to provide funds to service the Augusta-Richmond County Coliseum Authority's debt
to the extent of the 50% Hotel-Motel Excise Tax and 30% of the Beer Tax collected.
D. Richmond County Public Facilities, Inc.
The Richmond County Public Facilities, Inc. is a nonprofit organization, tax exempt under Intemal Revenue Code
Section 501(c)(3). The purpose of this nonprofit organization is to construct and maintain buildings and equipment to
be leased by the Government, the Department of Family and Children Services, and the Richmond County Board of
Education. The Richmond County Public Facilities, Inc. is part of the reporting entity of Augusta, Georgia, due to the
degree of control the Government has over the Board of Directors of Richmond County Public Facilities, Inc.
Richmond County Public Facilities, Inc. issued Certificates of Participation to provide funds for the Government to
refund the 1990 Certificates of Participation issue and for certain capital projects. The related assets are included in the
financial statements of the Government in the General Fixed Asset Account Group. The Certificates of Participation
were retired during 200 I.
In addition, the Richmond County Public Facilities, Inc. issued Certificates of Participation of $13,240,000 for the
Richmond County Board of Education in a prior year. These Certificates of Participation are the sole responsibility of
the Richmond County Board of Education and the related assets and liabilities have not been included in the financial
statements of the Government.
Note 5 - Pension plans
A. Plan descriptions, contribution information and funding policies
The Government has seven single-employer pension plans and one agent multiple-employer pension plan currently in
existence. These plans are defmed benefit plans. The Government also has a single-employer, defmed contribution
plan. The following is a summary of funding policies, contribution methods, and benefit provisions for each plan.
70
r
f
I~
f~
r"l
II
I~~
IJ
IJ
C"'l
I]
I~]
(.J
_J
IJ
I~
I~
1-,
I~
I
I
I
I
I
I
I
I
1
I
I
I
,I
I
I
I
I
I
I
-I
I
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31,2003
Note 5 - Pension plans (Continued)
Single-emplover pension plans
1945 Plan
The 1945 Plan was available to all former Richmond County employees hired prior to October 1, 1975 that met the
Plan's age and length of service requirements. Participants in the Plan who retired at or after age 60 are entitled to a
monthly benefit equal to 2% of average earnings multiplied by years of service. Also, the benefit is not to exceed 60%
of the average earnings. The Plan provides death and disability benefits. These benefit provisions and all other
requirementS including amendments are established by Government ordinance. The Plan also provides for reduced
benefits if the participant elects to retire after attaining age 50 and completing 15 years of service. Employees are
required to make contributions to the Plan equal to 5% of earnings. The Government is required to contribute the
remaining amounts necessary to fund the Plan. If a participant terminates employment prior to completion of ten years
of credited service, the participant receives a lump-sum amount equal to his total contributions to the Plan, with 5%
interest computed from January 1, 1997. After completion of at least ten years of credited service, the participant
receives a monthly benefit deferred to his normal retirement date, equal to the benefit computed as for normal
retirement multiplied by the percentage based on completed years of credited service, as follows: 50% after 10 years,
increasing 10% each year to 100% after 15 years of credited service. This is a closed retirement plan (new employees
may not participate in the Plan). The 1945 Plan does not issue a stand-alone financial statement report.
1977 Plan
The 1977 Plan was available to all former Richmond County full-time employees who were not participants in the
1945 Plan provided that they were not hired after reaching age 60. Normal retirement for the Plan is age 65 or the date
when age 62 is attained and an employee completes 25 years of credited service. At that time, the employee is entitled
to a monthly benefit equal to 1 % of average earnings multiplied by years of credited service. The Plan provides death
and disability benefits. These benefit provisions and all other requirements including amendments are established
by Government ordinance. The Plan also provides for reduced benefits if the participant elects to retire after attaining
age 50 and completing 15 years of service. Employees are required to make contributions to the Plan equal to 4% of
earnings. The Government is required to contribute the remaining amounts necessary to fund the Plan. If a participant
terminates employment prior to completion of five years of credited service, the participant receives a lump-sum
amount equal to his total contributions to the Plan, with interest. After completing at least five years of credited
service, the participant receives a monthly benefit deferred to his normal retirement date, equal to the benefit computed
as for normal retirement. This is a closed retirement plan (new employees may not participate in the Plan). The 1977
Plan does not issue a stand-alone financial statement report.
The funding policies for the 1945 and 1977 Plans provide for actuarially determined periodic contributions at rates that,
for individual employees, remain stable over time so that sufficient assets will be available to pay benefits when due.
The attained age aggregate cost method has been used to compute the normal cost for the plan. Any unfunded plan
costs are spread over the average future working lifetime of the participants as a level percentage of payrolL The
significant actuarial assumptions used to compute pension contribution requirements are the same as those used to
determine the standard measure of the pension obligation.
General Pension Plan, Policemen's Pension Plan. Firemen's Pension Plan and the City Emplovees' Pension Plan
These Plans covered former City of Augusta employees. Policemen and firemen hired before 1945 are covered under
the General Pension Plan. Policemen hired between 1945 and 1949 are covered under the Policemen's Pension Plan.
Firemen hired between 1945 and 1949 are covered under the Firemen's Pension Plan. Other former City of Augusta
employees hired between 1945 and 1949 are covered by the City Employees' Pension Plan. Pension benefits are being
paid under these Plans to retired employees and beneficiaries. These are closed retirement plans (new employees may
not participate in the plans). These plans do not issue stand-alone financial statement reports.
71
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 5 - Pension plans (Continued)
General Retirement Plan
Employees hired after March 1, 1949 and before March 1, 1987, whose age did not exceed thirty-five years at the time
of their employment and are not participants of the 1977 Plan are covered under the General Retirement Plan. Pension
benefits vest after an employee is 45 years of age and has 15 years of full-time employment. An employee may retire
at age 60 with 25 years of service and receive annual pension benefits equal to 2% of the employee's average salary
earned during the last three years of employment, multiplied by the number of full-time years of employment. The
Plan provides death and disability benefits. These benefit provisions and all other requirements including amendments
are established by Government ordinance. All full-time employees hired before July 1, 1980, must contribute 8% of
gross earnings to the Plan, with the Government contributing remaining amounts sufficient to provide future pensions.
This is a closed retirement plan (new employees may not participate in the Plan). The General Retirement Plan does
not issue a stand-alone fmancial statement report.
Periodic employer contributions to the pension plan are determined on an actuarial basis using the frozen entry age cost
method. The unfunded accrued liability is composed of pieces that are amortized over various periods to comply with
Georgia law. When the actuarial value of assets exceeds 150% of the present value of accrued benefits, the Official
Code of Georgia Annotated states that there is no minimum required contribution. The significant actuarial
assumptions used to compute pension contribution requirements are the same as those used to determine the standard
measure of the pension obligation.
Agent multiple-employer pension plan
Georgia Municipal Employees Benefit System (GMEBS)
Employees hired after March 1, 1987 and before consolidation on December 31, 1995, and who were not participants
in any other employer-sponsored retirement plan are covered under the Georgia Municipal Employees Benefit System.
The Plan provides pension benefits, deferred allowances, and death and disability benefits. These benefit
provisions and all other requirements including amendments are established by Government ordinance. A
participant may retire after reaching the age of 65 if the participant is not classified as public safety personnel;
participating public safety personnel may retire at age 65 or age 55 with 25 years of total credited service, whichever is
earlier. Early retirement may be taken at age 55 with 10 years of credited service. Benefits vest after 10 years of
service. Employees who retire at or after age 55 with 10 or more years of service are entitled to pension payments for
the remainder of their lives equal to 1 1/4% of their fmal five-year average salary times the number of years of which
they were employed as a participant in the GMEBS. The final five-year average salary is the average salary of the
employee during the final five years of full-time employment. Pension provisions include deferred allowances,
whereby an employee may terminate his or her employment with the Government after accumulating 10 years of
service but before reaching the age of 55. If the employee does not withdraw his or her accumulated contributions, the
employee is entitled to all pension benefits upon reaching the age of 55. Employees must contribute 3.5% of their
gross earnings to the Plan. In addition, the Government must provide annual contributions' sufficient to satisfy the
actuarially determined contribution requirements as amended by GMEBS. The GMEBS Retirement Fund issues a
publicly available financial report that includes fmancial statements and required supplementary information. That
report may be obtained by writing to Georgia Municipal Employees Benefit System, 201 Pryor Street, SW, Atlanta,
Georgia 30303.
Periodic employer contributions to the pension plan are determined on an actuarial basis using the entry age normal
actuarial cost method. Normal cost is funded on a current basis. The Plan is subject to the minimum funding standards
of the Public Retirement Systems Standards Law. Since the Government's policy is to contribute the pension expense
in each year, the funding strategy should provide sufficient resources to pay employee pension benefits on a timely
basis. The significant actuarial assumptions used to compute pension contribution requirements are the same as those2used to determine the standardized measure of the pension obligation.
72
Il
11
Il
Il
Il
(]
11
I-J
IJ
11
'-'1
IJ
I)
I;
I;
I;
I:
I:
I
I'
I
~I
-'I
:1
"I
11
,I
:1
'I
:1
,I
:1
,I
,I
:1
,I
,I
~I
I
AUGUSTA, GEORGIA
Notes to Financial Statements - Continued
Year Ended December 31,2003
Note 5 - Pension plans (Continued)
Membership of the defmed benefit plans are as follows:
Retirees and beneficiaries
receiving benefits
Terminated plan members
entitled to but not yet
receiving benefits
Active
Plan
members
1945 Plan
1977 Plan
General Pension Plan
Policemen's Pension Plan
Firemen's Pension Plan
City Employees' Pension Plan
General Retirement Plan (City 1949)
GMEBS
37
72
1
3
9
15
151
77
170
4
626
11
5
152
226
Total
365
186
1,008
The cost of administering the plans are financed through investment earnings.
Actuarial assumptions and other information used to determine the annual required contributions are located in the
Supplementary Information section of this report.
Defined contribution plan
Augusta-Richmond County Board ofConUnissioners Retirement Savings Plan (the "1998 Plan")
All full-time employees with more than one month of service are eligible to participate in the Retirement Savings Plan.
The Plan is a defmed contribution plan under Section 401(a) of the Intemal Revenue Code, and is administered by
Nationwide Life Insurance, PPA support. The Plan was organized and may be amended by a majority' vote of the full-
body of the governing board, the Augusta-Richmond County Commission. Employees contribute four percent (4%) of
their salary, and the Government contributes two percent (2%) of the employee's salary. At December 31, 2003, there
were approximately $1,297 plan participants. Participants are considered fully vested in the Government's
contributions after completing five (5) years of service. For the year ended December 31, 2003, the employees'
contributions were approximately $1,403,334, and the Government's contributions were approximately $701,667.
Richmond County Department of Health - General Retirement Plan
All current full-time employees of the Department of Health participate in the Employees' Retirement System of
Georgia (ERS), which is a cost-sharing multi-employer, defined benefit, public employee retirement system. The
Department contributes at a specified percentage of active members payroll determined by actuarial valuation. The
contribution requirements of plan members and the Department are established and may be amended by the ERS Board
of Trustees. Retirement contributions made on behalf of eligible participants for the year ended June 30, 2003 were
$173,481. Members become fully vested after ten years of service.
B. Summary of significant accounting policies
Pension trust funds are accounted for on the accrual basis. The accrual basis of accounting recognizes revenues when
earned. Expenses are recorded when incurred. Plan member contributions are recognized in the period in which the
contributions are due. Employer contributions are recognized when due and the Government has made a formal
commitment to provide the contributions. Benefits and refunds are recognized when due and payable in accordance
with the terms of the plan. For information relating to reported investment values, see Note 1 G.
73
AUGUST A, GEORGIA,
Notes to Financial Statements - Continued
Year Ended December 31, 2003
Note 5 - Pension plans(Continued)
C. Concentrations and reserves
There are no assets legally reserved for purposes other than the payment of plan member benefits for any plans.
The plans held no individual investments whose market value exceeds five percent or more of net assets available for
benefits. There are no long-term contracts for contributions.
D. Annual pension cost and net pension obligation
The Government's annual pension cost is determined using the calculation methodology defmed in GASB Statement
No. 27. The annual pension cost equals the Government's annual required contribution, plus any adjustments required
to reflect defined minimum and maximum amortization periods and any prior period differences between the actual
contribution paid into the plans and the annual pension cost.
E. Trend information
Fiscal Annual Actual Percentage of Net Pension
Year Pension County APC (Asset)
Beginning Cost Contribution Contributed Obligation
2001
1945 Plan o I/O I/200 1 $ $ 100% $
1977 Plan 01/01/2001 979,131 998,983 102%
General Pension Plan 01/01/2001 89,008 89,008 100%
Policemen's Pension Plan 01/01/2001 64,863 64,863 100%
Firemen's Pension Plan o I/O 1/200 1 214,272 214,272 100%
City Employees' Pension
Plan 01/01/2001 263,080 263,080 100%
General Retirement Plan
(City 1949) o I/O I/200 I 100%
GMEBS 01/01/2001 192,622 192,622 100%
Fiscal Annual Actual Percentage of Net Pension
Year Pension County APC (Asset)
Beginning Cost Contribution Contributed Obligation
2002
1945 Plan 01/01/2002 $ $ 100% $
1977 Plan o I/O 1/2002 916,427 925,071 101% (54,035)
General Pension Plan 01/01/2002 23,348 23,348 100%
Policemen's Pension Plan o I/O 1/2002 66,888 66,888 100%
Firemen's Pension Plan 01/01/2002 206,334 206,334 100%
City Employees' Pension
Plan 01/01/2002 299,512 299,512 100%
General Retirement Plan
(City 1949) 01/01/2002 100%
GMEBS 01/0 1/2002 168,316 168,316 100%
74
11
11
II
11
Il
IJ
11
11
I)
I]
11
In]
J
I]
11
I)
Ij
I;
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
-I
I
AUGUSTA, GEORGIA
Notes to Financial Statements - Concluded
Year Ended December 31, 2003
Note 5 - Pension plans(Continued)
Fiscal Annual
Year Pension
Beginning Cost
2003
1945 Plan 01/01/2003 $ $
1977 Plan 01/01/2003 620,596
General Pension Plan 01/01/2003 24,290
Policemen's Pension Plan 01/01/2003 70,546
Firemen's Pension Plan 01/01/2003 182,862
City Employees' Pension
Plan 01/01/2003 285,177
General Retirement Plan
(City 1949) 01/01/2003
GMEBS 01/01/2003 181,834
Actual
County
Contribution
Percentage of
APC
Contributed
Net Pension
(Asset)
Obligation
100%
106%
100%
100%
100%
$
655,871
24,290
70,546
182,862
(179,218)
285,177
100%
181,834
100%
100%
Note 6 - Joint venture and related organization
Joint venture
Under Georgia law, the Government, in conjunction with the sixteen counties and fifty-four cities in east Georgia known as
the Central Savannah River Area (CSRA), is a member of the CSRA Regional Development Center (CSRA RDC). The
CSRA RDC is a public organization that assists local governments in planning for common needs, cooperating for mutual
benefit, and coordinating for sound regional development The operations are mainly financed by membership dues and
financial assistance provided by the State of Georgia. Membership in the CSRA RDC is required by the Official Code of
Georgia Annotated (O.C.G.A.) 958-8-34 with annual dues based on a per capita amount During the year ended
December 31, 2003, the Government paid $107,350 in such dues, which was based on a per capita amount of $.55. The
CSRA RDC Board membership is composed of one city official, one county official, and one private sector individual from
each county. O.C.G.A. 958-8-39.1 provides that the Government is liable for any debts or obligations of the CSRA RDC.
The Comprehensive Annual Financial Report of the CSRA RDC may be obtained from:
CSRA Regional Development Center
3023 River Watch Pkwy
Augusta, Georgia 30907
Related organization
The Government officials are responsible for appointing the members of the boards of another organization, but the
Government's accountability for these organizations does not extend beyond making the appointments. The Government
commission appoints the voting majority of the members of the Augusta-Richmond County Coliseum Authority.
Note 7 - Hotellmotellodging tax
The Government has levied a 6% lodging tax. A summary of the transactions for the year ended December 31, 2003
follows:
Lodging tax receipts
$ 2,776,377
Disbursements to the Augusta-Richmond County Coliseum Authority, Augusta
Convention and Visitors Bureau, and the Augusta Museum for promotion of tourism
(2,776,377)
Balance of lodging tax funds on hand at end of year
$
75
AUGUSTA., GEORGIA
Notes to Financial Statements - Concluded
Year Ended December 31, 2003
Note 7 - Hotel/motel lodging tax (Continued)
The Government has received audit reports from the Augusta-Richmond County Coliseum Authority, Augusta Convention
and Visitors Bureau, and the Augusta Museum covering the lodging tax monies. The subcontractor's expenditures were for
promotion of tourism as required by O.C.G.A. ~48-13-51.
Note 8 - Significant contingencies
Federal and State assisted programs
The Government has received proceeds from several federal and state grants. Periodic audits of these grants are required
and certain costs may be questioned as not being appropriate expenditures under the grant agreements. Such audits could
result in the refund of grant monies to the grantor agencies. Management believes that any required refunds will be
iminaterial. No provision has been made in the accompanying financial statements for the refund of grant monies.
Claims and judgments
The Government is a defendant in various lawsuits. In the opinion of the Government's management and the Government
attorney, the ultimate effect of these matters will not have a material adverse effect on the fmancial condition of the
Government.
Arbitrage
The City's bond issues are subject to federal arbitrage regulations, and the Government has elected to review its potential
arbitrage liability annually on the bond issue dates. The arbitrage rebate payments are payable on the fifth anniversary of
the bond issue date and every fifth year subsequent to the date. Although the actual amount to be paid is not presently
determinable, the Government believes that arbitrage payables have been adequately provided for in the accompanying
financial statements.
Note 9 - Conduit debt obligations
Conduit debt obligations are limited obligation revenue bonds, certificates of participation, or similar debt instruments
issued for the purpose of providing capital financing for a specific third party that is not a part of the Government's
fmancial reporting entity. The Government has no obligation for the debt beyond the resources provided by a lease or loan
with the third party on whose behalf the debt was issued.
On December 14,2000, the Government issued Special Facility Airport Revenue Bonds in the amount of$3,11O,000 which
qualifies as a conduit debt obligation. The bonds are payable solely from revenues pledged under a lease agreement As of
December 31,2003, the amount outstanding on the Special Facility Airport Revenue Bonds is $3,110,000.
A - Debt service requirements to maturity for bonds payable
The following requirements to amortize debt outstanding as of December 31,2003, including interest are as follows:
Revenue Bonds
Principal Interest
2004 $ $ 152,390
2005 152,390
2006 152,390
2007 152,390
2008 152,390
2009 152,390
2010 3, II 0,000 152,390
$ 3, II 0,000 $ 1,066,730
76
Il
'Il
.1
Il
Ij
I)
I-J
I-j
I]
I]
IJ
-'-'
1.1
I)
IJ
IJ
1_;
,0
I~i
Ii
I~
I'
il
11
,I
'I
JI
I
:1
,I
;1
'I
ii'
:1
I
"I
,I
,I
~I
=1
I
AUGUST A, GEORGIA
Notes to Financial Statements - Concluded
Year Ended December 31, 2003
Note 10 - Prior period adjustments
c
In a prior year, the Government made errors in reporting its capital assets and accumulated depreciation, resulting in an
understatement of capital assets and an understatement of net assets in the governmental activities of $600,556 and
$1,621,418 in the business-type activities. During the current year, an adjustment, which increased beginning net assets
$2,221,974, was made to correct these errors in the accompanying [mancial statements.
77
I AUGUSTA, GEORGIA
Defined Benefit Pension Trusts - Required Supplementary Information
I December 31, 2003
I A. Schedules of funding progress
Actuarial (Funded) (F AAL)
Accrued Unfunded UAAL as
I Actuarial Actuarial Liability AAL A%of
Valuation Value of AAL (F AAL) Funded Covered Covered
Date Assets Entry Age UAAL Ratio Payroll Payroll
1945 Plan
I 01/01/91 $ 9,055,522 $ 8,084,072 $ (971,450) 112 % $ 670,286 (145) %
01/01/93 10,044,942 8,595,037 (1,449,915) 117 620,412 (234)
01/01/94 10,047,526 8,927,649 (1,119,877) 113 606,450 ( 185)
01/01/95 9,936,022 9,440,717 (495,305) 105 598,795 (83)
I 01/01/96 11,537,840 9,566,390 (1,971,450) 121 629,034 (313)
01/01/98 13,934,975 9,431,701 (4,503,274) 148 160,888 (2,799)
01/01/99 13,760,620 12,535,885 (1,224,735) 110 598,795 (205)
01/01/00 13,038,384 12,251,489 (786,895) 106 168,818 (466)
I 01/01/01 12,352,795 12,069,544 (283,251 ) 102 180,462 (157)
01/01/02 11,023,816 10,075,638 (948,178) 109 184,511 (514)
01/01/03 8,897,080 9,878,269 981,189 90 193,921 506
I 1977 Plan
01/01/91 $ 3,018,241 $ 1,430,898 $ (1,587,343) 211 % $ 3,772,441 (42) %
01/01/93 3,892,816 1,937,061 (1,955,755) 201 4,607,419 (42)
01/01/94 4,262,572 2,813,432 (1,449,140) 152 5,180,438 (28)
I 01/01/95 4,439,451 3,333,577 (1,105,874) 133 6,797,338 (16)
01/01/96 5,446,380 4,332,024 (1,114,356) 126 8,952,224 (12)
01/01/97 6,285,732 5,510,585 (775,147) 114 11,509,974 (7)
01/01/99 9,976,793 14,137,712 4,160,919 71 24,454,857 17
,I 01/01/00 10,836,439 15,060,421 4,223,982 72 21,709,421 19
01/01/01 11,136,602 15,575,523 4,438,921 72 21,705,175 20
01/01/02 14,065,581 16,860,437 2,794,356 83 21,029,237 13
01/01/03 12,609,297 18,150,192 5,540,895 69 22,187,948 25
I General Pension Plan
12/31/93 $ - $ 629,859 $ 629,859 - % $ - %
12/31/94 619,418 619,418
I 12/31/95 587,797 587,797
12/31/96 564,008 564,008
12/31/97 637,605 637,605
I 12/31/98 533,575 533,575
12/31/99 511,305 511,305
12/31/00 524,410 524,410
12/31/01 525,089 525,089
I 12/31/02 114,862 114,862
12/31/03 98,789 98,789
Policemen's Pension Plan
I 12/31/93 $ - $ 528,904 $ 528,904 - % $ - %
12/31/94 437,814 437,814
12/31/95 422,070 422,070
12/3 1/96 417,725 417,725
I 12/31/97 391,153 391,153
12/31/98 389,072 389,072
12/31/99 246,783 246,783
12/31/00 246,217 246,217
I 12/31/01 355,840 355,840
12/31/02 380,143 380,143
12/31/03 337,186 337,186
I
I 79
AUGUSTA, GEORGIA
Defined Benefit Pension Trusts - Required Supplementary Information - Continued
December 31, 2003
A. Schedules of funding progress (Continued)
Actuarial ' (Funded)
Accrued Unfunded
Actuarial Actuarial Liability AAL
Valuation Value of AAL (F AAL)
Date Assets Entry Age UAAL
Firemen's Pension Plan
12131/93 $ - $ 1,475,590 $ 1,475,590
12131/94 1,342,821 1,342,821
12131/95 1,296,843 1,296,843
12/31/96 1,202,831 1,202,831
12/31/97 1,507,501 1,507,501
12/31/98 1,479,472 1,479,472
12131/99 1,276,044 1,276,044
12131/00 1,258,550 1,258,550
12131/01 1,345,133 1,445,133
12/31/02 1,204,513 1,204,513
12131/03 1,110,698 1,110,698
City Emnlovees' Pension Plan
12/31/93 $ - $ 2,960,183 $ 2,960,183
12131/94 2,704,129 2,704,129
12/31/95 2,598,066 2,598,066
12/31/96 2,584,786 2,584,786
12/31/97 2,418,723 2,418,723
12/31/98 2,266,704 2,266,704
12131/99 2,060,501 2,060,501
12/31/00 1,911,904 1,911,904
12/31/01 1,914,347 1,914,347
12131/02 2,063,450 2,063,450
12131/03 1,931,942 1,931,942
Funded
Ratio
Covered
PayrolI
- % $
- % $
General Retirement Plan (City 1949)
01101/93 $ 47,314,256 $ 38,551,529 $ (8,762,727) 123 % $ 7,397,577
01/01194 49,875,350 36,456,408 (13,418,942) 137 7,243,580
01101/95 47,710,074 39,699,516 (8,010,558) 120 7,053,091
01101/96 56,004,033 41,587,715 (14,416,318) 135 6,345,073
01101197 59,413,476 42,712,240 (16,701,236) 139 5,165,172
01/01199 71,138,815 51,388,074 (19,750,741) 138 5,794,554
01101/00 70,974,830 54,306,953 (16,667,877) 131 5,112,578
01101/01 70,721,724 54,824,779 (15,896,945) 129 5,237,225
01101/02 66,542,266 52,471,765 (14,070,501) 127 5,473,137
01101/03 59,091,990 53,688,662 (5,403,328) 110 5,774,707
GMEBS
03/01194 $ 2,754,918 $ 2,903,208 $ 148,290 95 % $ 10,375,830
03/01/95 3,351,907 3,315,936 (35,971) 101 10,657,439
03/01196 3,731,118 3,568,982 (162,136) 105 9,369,684
03/01/97 4,144,704 5,312,277 1,167,573 78 8,082,062
03/01198 4,609,848 5,756,304 1,146,456 80 8,913,934
03/01100 5,559,655 6,422,501 862,846 86 7,719,739
03/01/02 6,308,424 6,887,424 579,000 91 6,913,560
03/01/03 6,477,885 7,146,314 668,429 90 6,988,509
03/01104 6,913,410 7,553,911 640,501 91 6,637,655
80
(1
~
Il
(F AAL)
UAAL as (J
A%of
Covered
PayrolI
- % Il
c'-'
Ii
,-'1
I)
Il
- %
1~1
Il
'~'1
11
"')
( 119) % IJ
(185)
(114)
(227) IJ
(323)
(341 )
(326)
(304 ) I;
(257)
(94)
1.0 % I~
(3)
(2.0)
14.0 II
13.0
11.2
8A
9.6 11
9.6
I'
I"
I AUGUSTA, GEORGIA
Defined Benefit Pension Trusts - Required Supplementary Information - Continued
I December 31,2003
I B. Schedules of employer contributions
Fiscal Annual Required Percentage
I Year Contribution Contributed
1945 Plan
1994 $ - %
1995
I 1996
1998
1999
2000
I 2001
2002
2003
1977 Plan
I 1994 $ - %
1995
1996
1997 600,260 100
I 1998 897,930 100
1999 1,124,928 100
2000 940,054 100
2001 979,131 100
I 2002 746,287 100
2003 787,672 100
General Pension Plan
1994 $ 1l1,109 100 %
I 1995 125,174 100
1996 125,874 100
1997 139,861 100
1998 107,338 100
I 1999 113,807 100
2000 102,476 100
2001 89,008 100
2002 23,348 100
I 2003 24,290 100
Policemen's Pension Plan
1994 $ 80,866 100 %
I 1995 69,407 100
1996 69,407 100
1997 79,952 100
1998 63,169 100
I 1999 53,823 100
2000 44,880 100
2001 64,863 100
2002 66,888 100
I 2003 70,546 100
Firemen's Pension Plan
1994 $ 212,392 100 %
1995 204,492 100
I 1996 200,757 100
1997 249,706 100
1998 237,914 100
1999 240,623 100
I 2000 205,435 100
2001 214,272 100
2002 206,334 100
2003 182,862 100
-I
I 81
AUGUST A, GEORGIA
Defined Benefit Pension Trusts - Required Supplementary Information - Continued
December 31, 2002
B. Schedules of employer contributions (Continued)
Fiscal Annual Required Percentage
Year Contribution Contributed
City Emolovees' Pension Plan
1994 $ 415,480 100 %
1995 408,999 100
1996 369,477 100
1997 409,881 100
1998 331,619 100
1999 348,792 100
2000 302,169 100
2001 263,080 100
2002 299,512 100
2003 285,177 100
General Retirement Plan (City 1949)
1994 $ - %
1995
1996
1997
1998
1999
2000
2001
2002
2003
GMEBS
1994 $ 232,298 100 %
1995 106,440 100
1996 187,548 100
1997 197,167 100
1998 214,536 100
1999 191,385 100
2000 204,576 100
2001 192,622 100
2002 168,316 100
2003 181,834 100
C. Notes to required supplementary information
1945 Plan
1977 Plan
Valuation date
Actuarial cost method
Amortization method
Amortization period
Actuarial asset valuation method
Actuarial assumptions:
Investment rate ofretum
Projected salary increases
Post retirement benefit increases
Inflation
11l/03
Attained age aggregate
Level percentage of payroll
Average future working lifetime
Market value
111103
Attained age aggregate
Level of percentage of pay
Average future working lifetime
Market value
8;0%
5.0%
5.0%
5.0%
8.0%
5.0%
5.0%
5.0%
82
I]
Il
Il
11
1-]
Il
11
11
IJ
I]
11
II
IJ
Ii
Ii
I,
II
I
I
I
;1
"
JI c.
I
"
JI
;1
.,
,I
;1
il
:1
JI
;1
,I
11
:1
,I
,I
~I
I
AUGUSTA, GEORGIA
Defined Benefit Pension Trusts - Required Supplementary Information - Continued
December 31,2002
Notes to required supplementary information (Continued)
Valuation date
Actuarial cost method
Amortization method
Amortization period
Actuarial asset valuation method
Actuarial assumptions:
Investment rate of return
Projected salary increases
Post retirement benefit increases
Inflation
Valuation date
Actuarial cost method
Amortization method
Amortization period
Actuarial asset valuation method
Actuarial assumptions:
Investment rate of return
Projected salary increases
Post retirement benefit increases
Inflation
Valuation date
Actuarial cost method
Amortization method
Amortization period
Actuarial asset valuation method
Actuarial assumptions:
Investment rate of return
Projected salary increases
Post retirement benefit increases
Inflation
General
Pension Plan
12/31/03
Actuarial present value oftotal
Projected benefits
N/A
N/A
N/A
8.0%
N/A
N/A
N/A
Firemen's
Pension Plan
12/31/03
Actuarial present value oftotal
Projected benefits
N/A
N/A
N/A
8.0%
N/A
N/A
N/A
General Retirement
Pension Plan (City 1949)
01/01/03
Aggregate cost method
Level percentage of payroll
Various periods to comply with
state law
The sum of the actuarial value of assets on the
preceding valuation date, net contributions and
disbursements during the preceding year,
interest on the items calculated using the
valuation investment return assumption, and
20% of the difference between the market
value of assets on the current valuation date
and the sum of the first three items.
8.0%
5.5%
4.0%
4.0%
83
Policemen's
Pension Plan
12131/03
Actuarial present value of total
Projected benefits
N/A
N/A
N/A
8.0%
N/A
N/A
N/A
City Employees'
Pension Plan
12/31/03
Actuarial present value of total
Projected benefits
N/A
N/A
N/A
8.0%
N/A
N/A
N/A
GMEBS
03/01/2004
Projected unit credit
Level dollar
30 years open
Roll forward prior year's actuarial
value with contributions,
disbursements, and expended
return of investments, plus 10% of
investment gains (losses) during 10
prior years.
8.0%
5.5%
None
None
II
Augusta, Georgia I
Combining Balance Sheet
Nonmajor Governmental Funds
December 31, 2003 11
Special Debt Capital 11
Revenue Service Project
Funds Funds Funds '~1
Assets IJ
Cash and temporary investments $ 10,792,871 $ 941,303 $ 19,404,075
Receivables (net of allowance for doubtful accounts) ~1
Taxes 2,796,807 66,807 Ii
Accounts 882,832
Interest 57,684 28,983
Note 336,835 I]
Intergovernmental 217,306
Reserve account 1,571,208
Sinking fund account 204,539 11
Perpetual care
Due from other funds 162,039 318
Total assets $ 15,450,913 $ 2,579,636 $ 19,433,058
Liabilities and fund balances (deficits) 11
Liabilities:
Accounts payable $ 1,026,828 $ $ 39,858 11
Accrued interest
Due to other funds 862,185
Accrued salaries and vacation 155,952 I]
Other accrued liabilities 77,939
Deferred revenue 2,599,398 67,586
Total liabilities 4,722,302 67,586 39,858
Fund balances (deficits): I]
Reserved for:
Encumbrances 1,038,124 2,635,081 p"".l
Project maintenance 5,596,460 IJ
Debt 2,986,302
Special purposes 16,550,138
Inventory/prepaid expenses 11
Capital improvements
Risk benefit
Designated for: I:
Unreserved - undesignated 9,690,487 (474,252) (5,388,479)
Total fund balances (deficits) 10,728,611 2,512,050 19,393,200
Total liabilities and fund balances (deficits) $ 15,450,913 $ 2,579,636 $ 19,433,058 I]
, ,
Ii
I
88 I:
Augusta, Georgia f'
Combining Statement of Revenues, Expenditures and Changes in Fund Balances J
Nonmajor Governmental Funds
Year Ended December 31,2003
r
Special Debt Capital
Revenue Service Project I~
Funds Funds Funds
Revenues
Taxes - property $ 11,337,683 $ 32,138 $ I~
Taxes - other than property 11,451,406
Licenses and permits 2,961,828
Use of money and property 213,997 156,432 291,048 11
Charges for current services 3,148,258 1,120
Fines and forfeitures 1,486,039
Intergovernmental 4,140,088 50,076
Contributions and donations 269,738 ";l
Other 584,555 1,131 IJ
Total revenues 35,593,592 189,701 342,244
~l
Expenditures IJ
Current:
General government 1,254,176 1,850
Judicial 467,908 IJ
Public safety 2,730,894 49,508
Public works 3,467,883 345,549
Culture and recreation 3,650,391 I]
Housing and development 5,872,764
. Capital outlay 1,332,804 186,209
Debt service 3,132,947 366,935
Total expenditures 21,909,767 366,935 583,II6 ~l
IJ
Excess (deficiency) of revenues
over (under) expenditures 13,683,825 (177,234) (240,872)
Other financing sources (uses) 11
Transfers in 825,571
Transfers (out) (14,402,030) IJ
Proceeds of refunding bond 4,035,000
Payment of refunded debt (3,863,767)
Total other fmancing sources (uses) (13,405,226)
Net change in fund balances 278,599 (177,234) (240,872) 11
Fund balance - beginning 10,450,012 2,689,284 19,634,072 I;
Fund balance - ending $ 10.728.611 $ 2,512.050 $ 19,393,200
I~
11
J
I
90 I,
I
I
I
I Permanent Total Nonmajor
Fund Governmental
Perpetual Care - II Funds
I $ $ II,369,821
II,451,406
2,961,828
I 661,477
2,219 3,151,597
1,486,039
4,190,164
I 269,738
585,686
2,219 36,127,756
I
1,256,026
I 467,908
2,780,402
3,813,432
I 3,650,391
5,872,764
1,519,013
I 3,499,882
22,859,818
2,219 13,267,938
I 825,571
I (14,402,030)
4,035,000
(3,863,767)
(13,405,226)
I 2,219 (137,288)
I 278,737 33,052,105
$ 280,956 $ 32,914,817
I
I
-I
I 91
Augusta, Georgia
Combining Balance Sheet
Nonmajor Special Revenue Funds
December 31,2003
Emergency
Urban Services Telephone Capital Law
District System Outlay Enforcement
Assets
Cash and temporary investments $ 2,984,109 $ $ 1,672,347 $ 489,747
Receivables (net of allowance for doubtful accounts)
Taxes 1,718,528 564,589
Accounts 599,999 230,832 1,152 7,072
Interest 5,627
Note 42,920
Intergovernmental
Sinking fund account
Due from other funds 103,078 44,028
Total assets $ 5,454,261 $ 230,832 $ 2,282,116 $ 496,819
Liabilities and fund balances (deficits)
Liabilities:
Accounts payable $ 152,684 $ 29,248 $ 320,419 $ 3,104
Accrued interest
Due to other funds 270,777
Accrued salaries and vacation 15,814 64,533
Other accrued liabilities 77,737
Deferred revenue 1,168,938 460,769
Total liabilities 1,415,173 364,558 781,188 3,104
Fund balances (deficits):
Reserved for:
Encumbrances 3,823 24,555 547,801 24,601
Unreserved - undesignated 4,035,265 (158,281) 953,127 469,114
Total fund balances (deficits) 4,039,088 (133,726) 1,500,928 493,715
Total liabilities and fund balances (deficits) $ 5,454,261 $ 230,832 $ 2,282,116 $ 496,819
92
11
Il
11
IJ
11
11
11
11
'.~1
Ii
I)
11
IJ
. )
I)
I)
I:
I)
I:
I
I
I
,
~I
:1
1 Housing and Urban Federal State
,I Occupational Special Promotion! Neighborhood Development Drug Drug
Tax Assessment Tourism Development Action Grant Fund Fund
",
;1 $ 13,335 $ 40,574 $ 275,832 $ 915,237 $ 491,799 $ 547,674 $ 585,856
,I 513,690
11,196
52,057
" 293,915
:1 14,933
:1 $ 13,335 $ 569,197 $ 287,028 $ 915,237 $ 837,771 $ 547,674 $ 585,856
,I $ $ 89,991 $ 279,800 $ 6,408 $ 283 $ 122,712 $ 4,225
I 2,281 32,534
493,102
; 585,374 279,800 38,942 283 122,712 4,225
11
;1 3,633 26,616 401,181
13,335 (16,177) 7,228 872,662 810,872 23,781 581,631
13,335 (16,177) 7,228 876,295 837,488 424,962 581,631
,I $ 13,335 $ 569,197 $ 287,028 $ 915,237 $ 837,771 $ 547,674 $ 585,856
,I
:1
I
~I
~I
I 93
Augusta, Georgia
Combining Balance Sheet
Nonmajor Special Revenue Funds - Continued
December 31, 2002
Downtown State 5% Victim's
Development Capital Law Crime
Authority . Grants Library Assistance
Assets
Cash and temporary investments $ 95,527 $ $ $ 504,054
Receivables (net of allowance for doubtful accounts)
Taxes
Accounts 2,519 26,913
Interest
Note
Intergovernmental
Sinking fund account 204,539
Due from other funds
Total assets $ 300,066 $ $ 2,519 $ 530,967
Liabilities and fund balances (deficits)
Liabilities:
Accounts payable $ $ $ 29 $ 6,120
,Accrued interest
Due to other funds 386,785 25,066
Accrued salaries and vacation 14,582
Other accrued liabilities 75 127
Deferred revenue
Total liabilities 386,860 25,095 20,829
Fund balances (deficits):
Reserved for:
Encumbrances 2,569
Unreserved - undesignated (86,794) (22,576) 507,569
Total fund balances (deficits) (86,794) (22,576) 510,138
Total liabilities and fund balances (deficits) $ 300,066 $ $ 2,519 $ 530,967
94
fl
t
11
I~
IJ
IJ
f
-1
.,J
IJ
Il
,]
1.1
11
IJ
I;
I~:
I~
J
I
I
I
I
Supplemental Weed and Total Nonmajor
I Juvenille Building Seed Federal Wireless Communtiy Perpetual Land Bank Special Revenue
Services Inspection Grant Phase Greenspace Care - I Authority Funds
I $ 37,107 $ 217,768 $ $ 731,297 $ 482,488 $ 698,137 $ 9,983 $ 10,792,871
2,796,807
I 800 2,349 882,832
57,684
336,835
I 217,306 217,306
204,539
162,039
$ 37,907 $ 217,768 $ 217,306 $ 731,297 $ 482,488 $ 700,486 $ 9,983 $ 15,450,913
I
I $ 156 $ 2,044 $ 1,806 $ 6,254 $ $ 1,545 $ $ 1,026,828
179,557 862,185
23,096 3,112 155,952
,I 77,939
476,589 2,599,398
156 25,140 184,475 6,254 476,589 1,545 4,722,302
I
143 122 2,592 488 1,038,124
I 37,608 192,506 30,239 725,043 5,899 698,453 9,983 9,690,487
37,751 192,628 32,831 725,043 5,899 698,941 9,983 10,728,6 II
I $ 37,907 $ 217,768 $ 217,306 $ 731,297 $ 482,488 $ 700,486 $ 9,983 $ 15,450,913
I
I
I
I
I
I 95
~l
I I
Augusta, Georgia IJ
Combining Statement of Revenues, Expenditures and Changes in Fund Balances n
Nonmajor Special Revenue Funds l-i
Year Ended December 31,2003
rl
Emergency IJ
Urban Services Telephone Capital Law
District System Outlay Enforcement Ii
Revenues IJ
Taxes - property $ 6,899,261 $ $ 3,161,535 $ n
Taxes - other than property 7,464,281 IJ
Licenses and permits
Use of money and property 30,650 94,585 5,294
Charges for current services 223,747 2,461,649 175 103,287 n
Fines and forfeitures I.J
Intergovemmental
Contributions and donations 269,437 11
Other 30,325 IJ
Total revenues 14,887,376 2,461,649 3,286,620 108,581
Expenditures [-I
Current: Ii
General government 32,070 200,842 879,694
Judicial 51,738 (-"1
Public safety 2,275,532 2,983 32,712 f j
Public works 1,753,201 238,449 I]
Culture and recreation 34,695
Housing and development 2,024 ('I
Capital outlay 975,589 28,656 IJ
Debt service 296,004 2,148,398
Total expenditures 2,083,299 2,476,374 4,331,546 61,368 r~-l
Excess (deficiency) of revenues IJ
over (under) expenditures 12,804,077 (14,725) (1,044,926) 47,213
Other financing sources (uses) (1
Transfers in 13,996 I.J
Transfers (out) (12,276,350)
Proceeds of refunding bond I :
Payment of refunded debt I]
Total other financing sources (uses) (12,276,350) 13,996
Net change in fund balances (deficits) 527,727 (14,725) (1,030,930) 47,213 I
Ii
Fund balance (deficits) - beginning 3,511,361 (119,001) 2,531,858 446,502
Fund balance (deficits) - ending $ 4,039,088 $ (133,726) $ 1,500,928 $ 493,715 I~
I~
I;
,
t
96 ,
I
'I
1.
"'1
:1 Housing and Urban Federal State
Occupational Special Promotion! Neighborhood Development Drug Drug
-.
'I Tax Assessment Tourism Development Action Grant Fund Fund
" $ $ 1,264,935 $ 11,952 $ $ $ $
,I 766 3,572,554
2,057,093
-, 8,493 1,686 14,410
,
11 612,129 549,007
3,686,192
"
'I 1,926 465,402 4,652 72,267
2,068,278 1,264,935 3,584,506 4,153,280 14,410 616,781 621,274
I 6,000 3,240 122,330
;1 119,616 34,343
1,476,233
" 3,595,654
,I ' 4,636,892 364,136
45,656 72,203 5,300
170,880
-;1 6,000 1,525,129 3,595,654 4,930,102 364,136 191,819 39,643
2,062,278 (260,194) (11,148) (776,822) (349,726) 424,962 581,631
:1 315,635 490,150 5,790
(2,052,000) (100,000)
I (2,052,000) 315,635 490,150 (94,210)
I 10,278 55,441 (11,148) (286,672) (443,936) 424,962 581,631
3,057 (71,618) 18,376 1,162,967 1,281,424
,"I $ 13,335 $ (16,177) $ 7,228 $ 876,295 $ 837,488 $ 424,962 $ 581,631
I
_,I
~I
I 97
n
Augusta, Georgia II
Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Continued n
Nonmajor Special Revenue Funds J
Year Ended December 31, 2002 n
Downtown State 5% Victim's II
Development Capital Law Crime
Authority Grants Library Assistance "
Revenues IJ
Taxes - property $ $ $ $ iJ
Taxes - other than property 413,805
Licenses and permits
Use of money and property 327 5,776
Charges for current services 7,272 ('-'
( I
Fines and forfeitures 324,903 IJ
Intergovernmental 29,690
Contributions and donations r--1
Other I)
Total revenues 414,132 367,641
Expenditures \'1
Current: Ii
General government
Judicial 15 397,654 ,['1
Public safety IJ
Public works
Culture and recreation
Housing and development 154,790 n
Capital outlay I)
Debt service 517,665
Total expenditures 672,455 15 397,654 ,"1
Excess (deficiency) of revenues 1.1
over (under) expenditures (258,323) (I5) (30,013)
Other financing sources (uses) (1
Transfers in IJ
Transfers (out) 26,320
Proceeds of refunding bond 4,035,000 f
Payment of refunded debt (3,863,767) 1-;
Total other financing sources (uses) 197,553
I'
Net change in fund balances (deficits) (60,770) (I5) (30,013) IJ
Fund balance (deficits) - beginning (26,024) (22,561)
540,151
Fund balance (deficits) - ending $ (86,794) $ $ (22,576) $ 510,138 I"~
1"\
,
1,;
f \
I~
[ ,
t
98 I,
I
I
I Supplemental Weed and Total Nonmajor
Juvenille Building Seed Federal Wireless Communtiy Perpetual Landbank Special Revenue
I Services Inspection Grant Phase Greenspace Care - I Authority Funds
$ $ $ $ $ $ $ $ 11,337,683
I 11,451,406
904,735 2,961,828
429 1,315 4,289 5,899 40,844 213,997
I 8,950 343,178 3,148,258
1,486,039
217,306 206,900 4,140,088
301 269,738
I 9,983 584,555
9,379 906,050 217,607 347,467 212,799 40,844 9,983 35,593,592
I 10,000 1,254,176
18,501 467,908
I 218,731 46,977 2,730,894
3,467,883
20,042 3,650,391
I 713,422 1,500 5,872,764
205,400 1,332,804
3,132,947
I 18,501 713,422 218,731 56,977 206,900 20,042 21,909,767
(9,122) 192,628 (1,124) 290,490 5,899 20,802 9,983 13,683,825
I 825,571
(14,402,030)
I 4,035,000
(3,863,767)
(13,405,226)
,I (9,122) 192,628 (1,124) 290,490 5,899 20,802 9,983 278,599
46,873 33,955 434,553 678,139 10,450,012
I $ 37,751 $ 192,628 $ 32,831 $ 725,043 $ 5,899 $ 698,941 $ 9,983 $ 10,728,611
I
I
I
I 99
Augusta, Georgia
Urban Services District Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31, 2003
""""'1
I:
j'
I)
Cl
Ii
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ 6,768,170 $ 6,899,261 $ 131,091 $ 6,550,084
7,691,450 7,464,281 (227,169) 7,979,456
12,000 30,650 18,650 21,478
156,945 223,747 66,802
42,440 269,437 226,997 238,514
263
14,671,005 14,887,376 216,371 14,789,795
II
Ii
J
Cl
11
Revenues
Taxes - property
Taxes - other than property
Use of money and property
Charges for current services
Contributions and donations
Other
Total revenues
r-l
I.J
I~j
("-1
Ij
C1
IJ
II
1.1
Expenditures
Current:
. General government
Public works
Housing and development
Capital outlay
Debt service
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
50,570 32,070 18,500 54,000
1,809,035 1,753,201 55,834 1,639,173
2,024 (2,024) 104,917
120,000 120,000 6,244
296,010 296,004 6 267,056
2,275,615 2,083,299 192,316 2,071,390
12,395,390 12,804,077 408,687 12,718,405
( 12,395,390) (12,276,350) 119,040 (12,123,192)
(12,395,390) (12,276,350) 119,040 (12,123,192)
$ 527,727 $ 527,727 595,213
3,511,361 2,916,148
$ 4,039,088 $ 3,511,361
n
1.1
I~]
IJ
I)
.-j
r
IJ
,
I
I,
Ii
I
i '
I,
Other financing sources (uses)
Transfers (out)
Total other financing sources (uses)
Net change in fund balances
Fund balance - beginning
Fund balance - ending
100
'I
1
;1
Augusta, Georgia
Emergency Telephone System Fund
Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit) - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31, 2003
.,
;1
,
:1
..,
,I
II
'I
11
,
il
11
il
I
,I
'I
I
,I
I
-I
I
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ $ $ $
2,634,000 2,461,649 (172,351) 2,565,248
2,634,000 2,461,649 (172,351) 2,565,248
Revenues
Use of money and property
Charges for current services
Total revenues
Expenditures
Current:
General government
Public safety
Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
193,080 200,842 (7,762) 305,736
2,439,630 2,275,532 164,098 2,399,183
34,151 34,151 6,738
2,666,861 2,476,374 190,487 2,711,657
(32,861) (14,725) 18,136 (146,409)
207,938 (207,938) 196,638
207,938 (207,938) 196,638
$ 175,077 (14,725) $ (189,802) 50,229
(119,001) (169,230)
$ (133,726) $ (119,001)
Other fmancing sources (uses)
Transfers (out)
Total other financing sources (uses)
Net change in Cund balances
Fund balance (deficit) - beginning
Fund balance (deficit) - ending
lOJ
Augusta, Georgia
Capital Outlay Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31, 2003
n
. I
Ii
t
n
I)
11
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ 3,206,720 $ 3,161,535 $ (45,185) $ 2,829,473
2,000 94,585 92,585 323,281
175 175
80
9,360 30,325 20,965 36,521
3,218,080 3,286,620 68,540 3,189,355
Revenues
Taxes - property
Use of money and property
Charges for current services
Fines and forfeitures
Other
Total revenues
Expenditures
Current:
General government
Judicial
Public safety
Public works
Culture and recreation
Capital outlay
Debt service
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Fund balance - beginning
1,082,014 879,694
45,586 51,738
2,983
178,744 238,449
50,340 34,695
2,844,241 975,589
2,031,161 2,148,398
6,232,086 4,331,546
(3,014,006) (1,044,926)
(3,014,006) 13,996
(3,014,006) 13,996
$ (6,028,012) (1,030,930) $
2,531,858
$ 1,500,928
4,997,082
202,320
(6,152)
(2,983)
(59,705)
15,645
1,868,652
(117,237)
1,900,540
1,969,080
Other financing sources (uses)
Transfers in
Transfers (out)
Total other financing sources (uses)
3,028,002
3,028,002
Net change in fund balances
Fund balance - ending
102
n
I.J
rl
IJ
n
IJ
r-l
IJ
r"-l
IJ
11
r-'
IJ
I)
I]
11
'Ij
Ii
11
t
I
960,559
1,829
36,041
76,616
57,240
633,852
751,576
2,517,713
671,642
(1,890,251)
(1,890,251 )
(1,218,609)
3,750,467
$
2,531,858
:1
11
.1
,I
Augusta, Georgia
Law Enforcement Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31,2003
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ $ 5,294 $ 5,294 $ 6,824
307,209 103,287 (203,922) 237,445
307,209 108,581 (198,628) 244,269
,il
11
Revenues
Use of money and property
Charges for current services
Total revenues
,I
;1
11
Expenditures
Current:
General government
Public safety
Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
26,517
227,436
53,256
307,209
32,712
28,656
61,368
26,517
194,724 50,260
24,600 18,663
245,841 68,923
47,213 175,346
(15,000)
(15,000)
47,213 160,346
286,156
$ 446,502
47,213
;1
Other f"mancing sources (uses)
Transfers (out)
Total other financing sources (uses)
il
Net change in fund balances
$
47,213 $
,I
Fund balance - beginning
446,502
Fund balance - ending
$
493,715
.1
,I
,I
~I
,I
~I
I
103
Augusta, Georgia
Occupation Tax Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31, 2003
Il
f
fl
~
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ $ 766 $ 766 $
2,028,000 2,057,093 29,093 2,082,308
30,000 8,493 (21,507) 12,656
1,926 1,926 2,141
2,058,000 2,068,278 10,278 2,097,105
n
IJ
Revenues
Taxes - other than property
Licenses and permits
Use of money and property
Other
Total revenues
IJ
iJ
Expenditures
Current:
General government
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
6,000 6,000 12,500
6,000 6,000 12,500
2,052,000 2,062,278 10,278 2,084,605
(2,052,000) (2,052,000) (2,084,585)
(2,052,000) (2,052,000) (2,084,585)
$ 10,278 $ 10,278 20
3,057 3,037
$ 13,335 $ 3,057
r'"
IJ
c',
IJ
Fund balance - ending
I~.J
*]
*1
IJ
Other financing sources (uses)
Transfers (out)
Total other fInancing sources (uses)
Net change in fund balances
Fund balance - beginning
I 1
IJ
.':
I;
f. ,
I~
t
104
I;
1
I
Augusta, Georgia
Special Assessment Fund
Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit) - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31,2003
I
I
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ 1,257,020 $ 1,264,935 $ 7,915 $ 1,110,442
1,257,020 1,264,935 7,915 1,110,442
I
I
Revenues
Taxes - property
Total revenues
I
Expenditures
Current:
General govemInent
Public works
Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
7,880 3,240 4,640
1,195,440 1,476,233 (280,793) 1,347,975
53,700 45,656 8,044 37,691
1,257,020 1,525,129 (268,109) 1,385,666
(260,194) (260,194 ) (275,224)
315,635 315,635
315,635 315,635
$ 55,441 $ 55,441 (275,224)
(71,618) 203,606
$ (16,177) $ (71,618)
I
.1
I
Transfers in
Total other financing sources (uses)
Net change in fund balances
I
Fund balance - beginning
I
Fund balance (deficit) - ending
I
I
I
I
I
-I
I
105
r-'
I]
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ $ 11,952 $ 11,952 $
3,780,000 3,572,554 (207,446) 3,636,769
10,484
3,780,000 3,584,506 (195,494) 3,647,253
n
f
n
I)
n
IJ
Augusta, Georgia
Promotiontrourism Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31,2003
Revenues
Taxes - property
Taxes - other than property
Other
Total revenues
rl
II
jJ
\1
II
n
Ii
r-'l
I!
Expenditures
Current:
Culture and recreation
Housing and development
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Net change in fund balances
3,780,000 3,595,654 184,346 3,652,497
3,780,000 3,595,654 184,346 3,652,497
(11,148) (11,148) (5,244)
$ (11,148) $ (11,148) (5,244)
18,376 23,620
$ 7,228 $ 18,376
!~-"l
Ii
(1
I]
*i
Fund balance - beginning
Fund balance - ending
f
11
f1
Ii
~=~~
I;
J
11
,
!
I;
I
106
;
I
I
~
11
11
"
Augusta, Georgia
Housing and Neighborhood Development Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31, 2003
;1
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ $ 1,686 $ 1,686 $ 2,262
4,572,427 3,686,192 (886,235) 5,188,594
311,051 465,402 154,351 324,321
4,883,478 4,153,280 (730,198) 5,515,177
il
;1
Revenues
Use of money and property
Intergovernmental
Other
Total revenues
il
,I
;1
Expenditures
Current:
General government
Housing and development
Capital outlay
Debt service
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
160,520 122,330 38,190 71,397
5,007,108 4,636,892 370,216 5,449,891
35,000 35,000
171,000 170,880 120 171,400
5,373,628 4,930,102 443,526 5,692,688
(490,150) (776,822) (286,672) (177,511) .
490,150 490,150 298,026
490,150 490,150 298,026
$ (286,672) $ (286,672) 120,515
1,162,967 1,042,452
$ 876,295 $ 1,162,967
;1
il
Other financing sources (uses)
Transfers in
Total other financing sources (uses)
,I
Net change in fund balances
Fund balance - beginning
,I
Fund balance - ending
JI
.1
I
,I
~I
I
107
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ $ 14,410 $ 14,410 $ 31,364
14,410 14,410 31,364
i'
Ii
r-,
~
n
IJ
f~
Idi
n
IJ
I~
Augusta, Georgia
Urban Development Action Grant Fund (UDAG)
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December'31, 2003
Revenues
Use of money and property
Total revenues
n
II
I~J
Expenditures
Current:
Housing and development
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Other financing sources (uses)
Transfers in
Transfers (out)
Total other financing sources (uses)
705,790 364,136 341,654 295,936
705,790 364,136 341,654 295,936
(705,790) (349,726) 356,064 (264,572)
630,790 5,790 (625,000)
(100,000) (100,000)
630,790 (94,210) (725,000)
$ (75,000) , (443,936) $ (368,936) (264,572)
1,281,424 1,545,996
$ 837,488 $ 1,281,424
Cl
11
11
Ii
Net change in fund balances
Fund balance - ending
11
IJ
('1
11
.)
.)
I;
.:
.,
i
I
I,
Fund balance - beginning
108
I
I
Augusta, Georgia
Federal Drug Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31, 2003
I
I
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
603,151 612,129 8,978
4,652 4,652
603,151 616,781 13,630
I
1
Revenues
Fines and forfeitures
Other
Total revenues
I
I
Expenditures
Current:
Public safety
Capital outlay
Total expenditures
230,590
372,561
603,151
119,616
72,203
191,819
110,974
300,358
411,332
1
Excess (deficiency) of revenues
over (under) expenditures
424,962
424,962
I
Other financing sources (uses)
I
Net change in fund balances
$
424,962 $
424,962
Fund balance - ending
$
424,962
$
I
I
I
I
I
I
-I
I
109
Augusta, Georgia
State Drug Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31, 2003
$
r~'
IJ
t
[l
II
jl
2002 I
Actual
Il
r-1
II
C"-,
II
[""1
Ii
1~1
.J
1"1
IJ
I)
r-.l
I]
! ~
I)
l,_i
Ii
I:
I,
I
[ <
I
Budget
Revenues
Fines and forfeitures
Other
Total revenues
42,469
42,469
Expenditures
Current:
Public safety
Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
35,969
6,500
42,469
Other financing sources (uses)
Net change in fund balances
$
Fund balance - ending
110
Actual
549,007
72,267
621,274
34,343
5,300
39,643
581,631
581,631
$
581,631
Variance with
Final Budget -
Positive
(Negative)
506,538
72,267
578,805
1,626
1,200
2,826
581,631
$
581,631
I
,
JI
'I
)1
Augusta, Georgia
Downtown Development Authority Fund
Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit) - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31, 2003
I
;1
Revenues
Taxes - other than property
Use of money and property
Total revenues
;1
Expenditures
Current:
Housing and development
Debt service
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
,I
;1
JI
Other fmancing sources (uses)
Transfers (out)
Proceeds of refunding bond
Payment of refunded debt
Total other financing sources (uses)
il
,
JI
Net change in fund balances
Fund balance (deficit) - beginning
JI
Fund balance (deficit) - ending
;1
.1
.1
I
-I
I
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
400,000 413,805 13,805 417,135
327 327
400,000 414,132 14,132 417,135
154,790 154,790
271,530 517,665
426,320 672,455
(26,320) (258,323)
26,320 26,320
4,035,000
(3,863,767)
26,320 197,553
$ (60,770) $
(26,024)
$ (86,794)
(246,135)
(246,135)
(232,003)
4,035,000
(3,863,767)
171,233
(60,770)
III
858,227
858,227
(441,092)
475,196
475,196
34,104
$
(60,128)
(26,024)
Augusta, Georgia
Law Library Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31,2003
r-1
I)
11
11
1-]
Budget
Revenues
Other
Total revenues
$
Expenditures
Current:
Judicial
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Other financing sources (uses)
Net change in fund balances
$
Fund balance (deficits) - beginning
Fund balance (deficits) - ending
1\2
Actual
$
$
(22,561 )
(22,576)
Variance with
Final Budget -
Positive
(Negative)
s
15
15
(15)
(15)
(15)
(15)
(15)
$
(15)
2002
Actual
I~]
I]
r'l
II
$
212
212
'1
IJ
IJ
(211 )
r"-l
(211)
IJ
I]
11
11
IJ
I~
IJ
$
(22,350)
(22,561 )
I;
I
I,
I
'I
;1
il
il
Augusta, Georgia
5% Victim's Crime Assistance Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31, 2003
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ 9,000 $ 5,776 $ (3,224) $ 8,906
7,272 7,272 10,906
374,000 324,903 (49,097) 313,221
29,690 29,690 29,399
383,000 367,641 (15,359) 362,432
,I
Revenues
Use of money and property
Charges for current services
Fines and forfeitures
Intergovernmental
Total revenues
I
,I
Expenditures
Current:
General government
Judicial
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
6,455
376,545
383,000
397,654
397,654
6,455
(21,109) 366,184
(14,654) 366,184
(30,013) (3,752)
(40,000)
(40,000)
(30,013) (43,752)
583,903
$ 540,151
;1
I
(30,013)
Other financing sources (uses)
Transfers (out)
Total other financing sources (uses)
.1
Net change in fund balances
$
(30,013) $
,I
Fund balance - beginning
540,151
Fund balance - ending
$
510,138
,I
;1
I
I
I
~I
,I
113
Augusta, Georgia
Supplemental Juvenile Service Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31, 2003
fl
11
Revenues
Use of money and property
Charges for current services
Total revenues
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ 1,000 $ 429 $ (571) $ 675
17,715 8,950 (8,765) 15,849
18,715 9,379 (9,336) 16,524
iT'l
IJ
11
1'-1
IJ
(1
'1
IJ
I
Expenditures
Current:
Judicial
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
18,715 18,501 214 10,357
18,715 18,501 214 10,357
(9,122) (9,122) 6,167
$ (9,122) $ (9,122) 6,167
46,873 40,706
$ 37,751 $ 46,873
11
Net change in fund balances
Fund balance - beginning
IJ
I]
I]
I]
Fund balance - ending
, 1
II
[,1
IJ
I:
11
I
114
I:
I
I
Augusta, Georgia
Weed and Seed Federal Grant Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31, 2003
I
I
I
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ 275,000 $ 217,306 $ (57,694) $ 249,328
301 301 2,300
275,000 217,607 (57,393) 251,628
1
Revenues
Intergovernmental
Contributions and donations
Total revenues
I
Expenditures
Current:
General government
Public safety
Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
1,250 1,250
273,750 218,731 55,019 218,062
30,000
275,000 218,731 56,269 248,062
(1,124) (1,124) 3,566
$ (1,124) $ (1,124) 3,566
33,955 30,389
$ 32,83 I $ 33,955
I
I
I
Net change in fund balances
I
Fund balance - beginning
Fund balance - ending
I
I
I
I
I
I
I
I
115
Variance with
Final Budget -
Positive' 2002
Budget Actual (Negative) Actual
$ 8,000 $ 4,289 $ (3,711) $ 3,904
255,000 343,178 88,178 281,751
263,000 347,467 84,467 285,655
i
i
i
j
r
I
j
I
Augusta, Georgia
Wireless Phase Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31,2003
Revenues
Use of money and property
Charges for current services
Total revenues
Expenditures
Current:
General government
Public safety
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Other financing sources (uses)
Transfers (out)
Total other financing sources (uses)
Net change in fund balances
Fund balance - beginning
Fund balance - ending
89;500 10,000 79,500
173,500 46,977 126,523 190,470
263,000 56,977 206,023 190,470
290,490 290,490 95,185
(196,638)
(196,638)
$ 290,490 $ 290,490 (101,453)
434,553 536,006
$ 725,043 $ 434,553
r--
I
r~
I
r-
I
r-
I
r
I
I
I
I
I
,
I
1
I
t..
I
116
I
1
11
:1
Augusta, Georgia
Community Greenspace Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31,2003
JI
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ $ 5,899 $ 5,899 $ II ,800
55,000 206,900 151,900 334,335
55,000 212,799 157,799 346,135
;1
:1
Revenues
Use of money and property
Intergovernmental
Total revenues
'I
.1
Expenditures
Current:
Housing and development
Capital outlay
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
;1
;1
Other financing sources (uses)
Transfers in
Total other financing sources (uses)
JI
Net change in fund balances
Fund balance - beginning
, I Prior period adjustment
Fund balance - ending
1
,I
I
I
JI
~I
;1
117
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
$ 40,000 $ 40,844 $ 844 $ 29,854
1,300 (1,300) 1,703
41,300 40,844 (456) 31,557
.'
f
f
I~
Augusta, Georgia
Perpetual Care - I Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31, 2003
Revenues
Use of money and property
Charges for current services
Total revenues
r
I;
1-',
I~
I"::
I~J
r-l
IJ
f'"
IJ
IJ
Ij
IJ
I,;
I,
I]
t
Expenditures
Current:
Culture and recreation
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
41,300 20,042 21,258 16,721
41,300 20,042 21,258 16,721
20,802 20,802 14,836
$ 20,802 $ 20,802 14,836
678,139 663,303
$ 698,941 $ 678,139
Net change in fund balances
Fund balance - beginning
Fund balance - ending
118
I)
I
I
Augusta, Georgia
Landbank Authority Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Special Revenue Funds
Year Ended December 31,2003
I
I
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
9,983 9,983
9,983 9,983
9,983 9,983
$ 9,983 $ 9,983
$ 9,983 $
I
I
Revenues
Other
Total revenues
I
Excess (deficiency) ofrevenues
over (under) expenditures
I
Net change in fund balances
I
Fund balance - ending
I
I
I
I
I
I
I
I
I
I
119
Augusta, Georgia
Combining Balance Sheet
Nonmajor Debt Service Funds
December 31, 2003
Total Nonmajor
Urban Debt Service
Debt Service Debt Service Funds
Assets
Cash and temporary investments $ 705,199 $ 236,104 $ 941,303
Receivables (net of allowance for doubtful
accounts)
Taxes 39,017 27,790 66,807
Accounts
Certificates of participation investments
Reserve account 1,571,208 1,571,208
Due from other funds 275 43 318
Total assets $ 2,315,699 $ 263,937 $ 2,579,636
Liabilities and fund balances
Liabilities:
Deferred revenue 39,021 28,565 67,586
Total liabilities 39,021 28,565 67,586
Fund balances:
Debt 2,986,302 2,986,302
Unreserved - undesignated (709,624) 235,372 (474,252)
Total fund balances 2,276,678 235,372 2,512,050
Total liabilities and fund balances $ 2,315,699 $ 263,937 $ 2,579,636
fJ
Il
11
fll
Ij
11
11
,~,
, I
II
11
(1
IJ
IJ
I]
IJ
11
I~
I;
I,
I
I
120
121
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
Augusta, Georgia
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Nonmajor Debt Service Funds
Year Ended December 31,2003
Total Nonmajor
Urban Debt Service
Debt Service Debt Service Funds
Revenues
Taxes - property $ 18,739 $ 13,399 $ 32,138
Use of money and property 150,839 5,593 156,432
Other 1,131 1,131
Total revenues 170,709 18,992 189,701
Expenditures
Debt service 366,935 366,935
Total expenditures 366,935 366,935
Excess (deficiency) of revenues
over (under) expenditures 170,709 , (347,943) (177,234)
Net change in fund balances 170,709 (347,943) (177,234)
Fund balance - beginning 2,105,969 583,315 2,689,284
Fund balance - ending $ 2,276,678 $ 235,372 $ 2,512,050
122
I
I
I
I
I
I
I
I
I
['
I
I
I
[
I
r
I
I
r
I
I
I
I
Augusta, Georgia
Debt Service Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Debt Service Funds
Year Ended December 31,2003
I
I
I
I
I
I
I
I
I
I
.1
I
I
I
I
I
I
'I
I
Augusta, Georgia
Urban Debt Service Fund
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Nonmajor Debt Service Funds
Year Ended December 31, 2003
Variance with
Final Budget -
Positive 2002
Budget Actual (Negative) Actual
Revenues
Taxes - property $ $ 13,399 $ 13,399 $ 57,711
Taxes - other than property 26
Use of money and property 10,000 5,593 (4,407) 13,834
Total revenues 10,000 18,992 8,992 71,571
Expenditures
Debt service 367,630 366,935 695 386,062
Total expenditures 367,630 366,935 695 386,062
Excess (deficiency) of revenues
over (under) expenditures (357,630) (347,943) 9,687 (314,491 )
Other financing sources (uses)
Transfers in 357,630 (357,630)
Total other financing sources (uses) 357,630 (357,630)
Net change in fund balances $ (347,943) $ (347,943) (314,491)
Fund balance - beginning 583,315 897,806
Fund balance - ending $ 235,372 $ 583,315
123
Augusta, Georgia
Combining Balance Sheet
Nonmajor Capital Project Funds '
December 31, 2003
Total Nonmajor
Community Special Sales Special Sales Capital Project
Development Tax Phase I Tax Phase II Funds
Assets
Cash and temporary investments $ 183,514 $ 4,343,841 $ 14,876,720 $ 19,404,075
Receivables (net of allowance for doubtful
accounts)
Interest 28,983 28,983
Total assets $ 183,514 $ 4,343,841 $ 14,905,703 $ 19,433,058
Liabilities and fund balances
Liabilities:
Accounts payable $ 29,934 $ $ 9,924 $ 39,858
Total liabilities 29,934 9,924 39,858
Fund balances:
Encumbrances 31,573 22,695 2,580,813 2,635,081
Project Maintenance 2,000,000 3,596,460 5,596,460
Special purposes (31,573) 3,282,934 13,298,777 16,550,138
Unreserved - undesignated 153,580 (961,788) (4,580,271) (5,388,479)
Total fund balances 153,580 4,343,841 14,895,779 19,393,200
Total liabilities and fund balances $ 183,514 $ 4,343,841 $ 14,905,703 $ 19,433,058
124
r"'"""l
I]
f
n
I)
IJ
fi
IJ
r--'
Ii
1'1
('I
II
(."1
IJ
IJ
I]
f 1
II
I;
r 1
Ii
,~
r 1
I;
: I
Ij
t
I
I
I
I
I
I
I
I
I
125
I
I
I
I
Augusta, Georgia
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Nonmajor Capital Project Funds
Year Ended December 31,2003
tevenues
Use of money and property
Charges for current services
I Intergovernmental
Total revenues
Total Nonmajor
Community Special Sales Special Sales Capital Project
Development Tax Phase I Tax Phase II Funds
$ $ 49,218 $ 241,830 $ 291,048
1,120 1,120
50,076 50,076
49,218 293,026 342,244
,xpenditures
Current:
General government
Public safety
I Public works
Capital outlay
Total expenditures
Ixcess (deficiency) of revenues
over (under) expenditures
1,850 1,850
49,508 49,508
269,878 9,691 65,980 345,549
35,804 150,405 186,209
355,190 9,691 218,235 583,116
(355,190) 39,527 74,791 (240,872)
(355,190) 39,527 74,791 (240,872)
508,770 4,304,314 14,820,988 19,634,072
$ 153,580 $ 4,343,841 $ 14,895,779 $ 19,393,200
'Net change in fund balances
und balance - beginning
lund balance - ending
Augusta, Georgia
Combining Statement of Net Assets
Nonmajor Enterprise Funds
December 31, 2003
Municipal
Waste Golf
Management Course Transit
Assets
Current assets
Cash and temporary investments $ 10,723,113 $ 179 $ 150
Receivables
Taxes
Accounts 453,630 419
Interest
Intergovernmental 881,359
Inventory 8,840 219,822
Due from other funds
Total current assets 11,176,743 9,019 1,101,750
Noncurrent assets
Capital assets, net 3,285,931 1,551,275 3,619,972
Total noncurrent assets 3,285,931 1,551,275 3,619,972
Total assets $ 14,462,674 $ 1,560,294 $ 4,721,722
Liabilities
Current liabilities
Accounts payable $ 53,726 $ 11,657 $ 31,787
Due to other funds 87,883 2,537,788
Accrued salaries and vacation 77,392 18,750 188,648
Other accrued liabilities 161,476 144
Current portion of leases payable 49,057
Deferred revenue 650
Total current liabilities 341,651 119,084 2,758,223
Noncurrent liabilities
Closure/postc1osure accrual 11,800,706
Capital leases 49,057
Total noncurrent liabilities 11,849,763
Total liabilities 12,191,414 119,084 2,758,223
Net assets
Invested in capital assets, net of related debt 3,187,817 1,551,275 3,619,972
Unrestricted (916,557) (110,065) (1,656,473)
Total net assets $2,271,260 $1,441,210 $1,963,499
128
I-j
~
Il
1_,:
,j
11
IJ
I~,:
J
1-1
.,~ J
IJ
IJ
1-1
,eJ
Ie;
1_;
I~
I~
I~
1_;
I~
I
Augusta, Georgia
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets
Nonmajor Enterprise Funds
Year Ended December 31, 2003
Municipal
Waste Golf
Management Course Transit
Operating revenues
Charges and fees $ 4,943,777 $ 645,525 $ 722,803
Total operating revenues 4,943,777 645,525 722,803
Operating expenses
Personal services and employee benefits 917,291 260,728 2,666,136
Purchased/contracted services 792,243 43,050 81,708
Supplies 290,164 178,511 355,181
Repairs and maintenance 183,423 35,849 172,216
Interfund/interdepartmental charges 509,151 60,190 190,298
Other costs 162,712
Depreciation 1,068,939 44,831 523,769
Closure/postclosure accrual 817,227
Total operating expenses 4,740,650 623,159 3,989,308
Operating income (loss) 203,127 22,366 (3,266,505)
Nonoperating revenue (expense)
Interest revenue 111,458
Sale of property 3,150 900
Other revenue (expense) 3,219 26,086
Intergovernmental 35,256 1,159,188
Interest expense (25,900) (22,010)
Total nonoperating revenue (expense) 149,864 (22,681 ) 1,164,164
Income (loss) before transfers 352,991 (315) (2,102,341 )
Transfers in 60,000 1,319,270
Change in net assets 352,991 59,685 (783,071)
Total net assets - beginning 2,350,093 1,323,873 3,363,032
Prior period adjustment (431,824) 57,652 (616,462)
Total net assets - beginning, as restated 1,918,269 1,381,525 2,746,570
Total net assets - ending $ 2,271,260 $ 1,441,210 $ 1,963,499
130
I
I
f
I
I
I
I
I"
I-
I
I
I
I
I
1
I
1
I
I
I
I
I
I Daniel Newman
Field Tennis Garbage
I Airport Center Collection Riverwalk Total
$ 89,750 $ 218,386 $ 6,644,314 $ 58,830 $ 13,323,385
I 89,750 218,386 6,644,314 58,830 13,323,385
21,428 104,888 93,088 72,597 4,136,156
I 15,762 106,564 10,188,972 60,748 11,289,047
6,410 80,072 10,206 116,963 1,037,507
16,860 4,229 510 413,087
I 7,186 6,695 100,000 873,520
612,000 774,212
66,606 1,704,145
817,227
I 134,252 302,448 11,004,266 250,818 21,044,901
(44,502) (84,062) (4,359,952) (191,988) (7,721,516)
I 4,804 487 116,749
4,050
I 900 500 30,705
27~,603 7,136 1,474,183
(2,173) (26,429) (76,512)
I 278,307 5,463 (26,429) 487 1,549,175
233,805 (78,599) (4,386,381) (191,50 I) (6,112,341)
I 50,000 53,830 3,127,550 218,240 4,828,890
283,805 (24,769) (1,258,831) 26,739 (1,343,451)
I 1,094,882 (176,878) 650,550 8,974 8,614,526
179,032 (811,602)
I 1,273,914 (176,878) 650,550 8,974 7,802,924
$ 1,557,719 $ (201,647) $ (608,281 ) $ 35,713 $ 6,459,473
I
I
I
131
I
132
I
I
I
I'
I
I'
I
1
I
I
I
I
I
I
I
I
I
I
I
Augusta, Georgia
Combining Statement of Cash Flows
Nonmajor Enterprise Funds
Year Ended December 31, 2003
Municipal
Waste Golf
Management Course Transit
Operating activities
Cash received from customers $ 5,413,460 $ 645,525 $ 722,384
Cash paid to suppliers (1,416,967) (267,678) (643,970)
Cash paid to employees (902,399) (255,977) (2,641,045)
Cash paid for interfund services used (509,151) (155,074) 1,117,193
Net cash provided by (used in)
operating activities 2,584,943 (33,204) (1,445,438)
Noncapital financing activities
Transfers in 60,000 1,319,270
Operating grants 97,719
Interest expense on operating capital (22,010)
Net cash provided by noncapital
financing activities 60,000 1,394,979
Capital and related financing activities
Proceeds from grants 35,256 271,776
Proceeds from sale of property , 3,150 900
Other miscellaneous income 3,219 26,086
Purchase of capital assets (251,921 ) (4,115) (249,303)
Interest paid on capital debt (25,900)
Net cash provided (used) by capital and
related financing activities (213,515) (26,796) 49,459
Investing activities
Interest received 111,458
Net cash provided by investing activities 111,458
Net increase (decrease) in cash and cash
eq uivalents/investmen ts 2,482,886 (1,000)
Cash and cash equivalents/investments
Beginning of year 8,240,227 179 1,150
End of year $ 10,723,113 $ 179 $ 150
I
I
I Newman Total Nonmajor
I Daniel Field Tennis Garbage Enterprise
Airport Center Collection Riverwalk Funds
I $ 89,750 $ 218,386 $ 7,286,470 $ 58,830 $ 14,434,805
(157,713) (166,730) (10,202,710) (174,686) (13,030,454)
(25,944) (104,254) (84,881 ) (72,356) (4,086,856)
I (7,186) (6,695) (100,000) 339,087
(101,093) (59,293) (3,101,121) (188,212) (2,343,418)
I 50,000 53,830 3,127,550 218,240 4,828,890
97,719
I (2,173) (26,429) (50,612)
50,000 51,657 4,875,997
3,101,121 218,240
I 272,603 7,136 586,771
4,050
I 900 500 30,705
(257,440) (762,779)
(25,900)
I 16,063 7,636 (167,153)
I 5,140 487 117,085
5,140 487 117,085
I (29,890) 30,515 2,482,511
I 373,888 200 20,480 8,636,124
$ 343,998 $ 200 $ $ 50,995 $ 11,118,635
I
I
1
'I
I 133
Augusta, Georgia
Combining Statement of Cash Flows - Continued
Nonmajor Enterprise Funds
Year Ended December 31,2003
11
Il
Waste
Management
Reconciliation of operating income (loss)
to net cash provided by
(used in) operating activities
Operating income (loss)
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating
activities:
Depreciation
Closure/post closure costs
Change in assets and liabilities
Accounts receivable
Due from other funds
Taxes receivable
Inventory
Accounts payable
Accrued salaries and vacation
Other accrued liabilites
Due to other funds
Unearned revenue
Total adjustments
$ 203,127
Municipal
Golf
Course
$ 22,366
1,068,939 44,831
817,227
577 ,579
2,310
(55,728) (11,149)
14,892 4,751
(41,093) (2,079)
(94,884)
650
2,381,816 (55,570)
$ 2,584,943 $ (33,204)
Net cash provided by (used in) operating activities
Noncash investing, capital, and financing activities:
134
Transit
11
IJ
Il
11
'-'1
IJ
'--1
IJ
""1
IJ
$ (3,266,505)
523,769
(419)
(43,323)
8,458
25,091
1,307,491
IJ
1,821,067
$ (1,445,438)
~\
IJ
IJ
11
11
I~
I:
11
I
I'
I
~I
il
)1
:1
'I
:
,I
,I
,
]1
,I
~I
~I
'I
,I
~,I
,I
I
-I
I
Daniel Field
Airport
Newman
Tennis
Center
Total Nonmajor
Garbage Enterprise
Collection Riverwalk Funds
$ (44,502)
$ (84,062)
$ (4,359,952) $ (191,988) (7,721,516)
66,606
1,704,145
817,227
1,726,476
160,211
(632,531 )
7,000
33,615 (338) (65,654)
(4,516) 634 8,207
1,287
(152,296) 16,186 62,122
(56,591) 24,769 1,258,831
$ (101,093) $ (59,293) $ (3,101,121) $
2,303,636
160,211
(632,531)
(34,013)
3,535 (87,261)
241 49,300
(41,885)
1,138,619
650
3,776 5,378,098
(188,212) $ (2,343,418)
135
Augusta, Georgia
Combining Statement of Net Assets
Internal Service Funds
December 31, 2003
11
~
11
Risk Fleet Workers
Management Operations Compensation
Assets
Current assets
Cash and temporary investments $ 744,236 $ $ 137,340
Accounts receivable
Total current assets 744,236 137,340
Noncurrent assets
Restricted investments
Capital assets, net 28,713 211,629
Total noncurrent assets 28,713 211,629
Total assets $ 772,949 $ 211,629 $ 137,340
Liabilities
Current liabilities
Accounts payable $ 184,704 $ 327,656 $ 133,372
Due to other funds 231,051
Accrued salaries and vacation 24,187 12,113
Total current liabilities 208,891 570,820 133,372
Noncurrent liabilities
Revenue bonds payable
Notes payable
Capital leases
Total noncurrent liabilities
Total liabilities 208,891 570,820 133,372
Net assets
Invested in capital assets, net of related debt 28,713 211 ,629
Restricted
Unrestricted 535,345 (570,820) 3,968
Total net assets $564,058 ($359,191) $3,968
-l
Ii
Il
11
II
,I
11
I'J
'-']
Ii
~l
11
IJ
I;
I]
I;
IJ
I;
I
I'
138
I
I
I
I Long-term
Employee Disability GMA
I Health Benefits Unemployment Insurance Leases Total
I $ $ 63,233 $ 15,657 $ $ 960,466
3,068,652 3,068,652
63,233 15,657 3,068,652 4,029,118
I 13,098,945 13,098,945
240,342
I 13,098,945 13,339,287
$ $ 63,233 $ 15,657 $ 16,167,597 $ 17,368,405
I
$ 55 $ 63,115 $ $ 119,572 $ 828,474
I 62,116 140,284 433,451
36,300
62,171 63,115 259,856 1,298,225
I 15,989,693 15,989,693
,I 15,989,693 15,989,693
62,171 63,115 16,249,549 17,287,918
I 240,342
I (62,171) 118 15,657 (81,952) (159,855)
($62,171) $118 $15,657 ($81,952) $80,487
I
I
1
-I
I 139
I
Augusta, Georgia I
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets
Internal Service Funds
Year Ended December 31, 2003 11
I-j
Risk Fleet Workers
Management Operations Compensation 11
Operating revenues
Charges and fees $ 1,665,137 $ 3,526,565 $ 1,635,522
Total operating revenues 1,665,137 3,526,565 1,635,522 11
Operating expenses
Personal services and employee benefits 286,456 105,267 11
Purchased/contracted services 346,611 26,955
Supplies 191,939 140,442
Repairs and maintenance 3,685,194
Interfund/interdepartmental charges 379 I~l
Other costs 3,869 94,918
Depreciation 19,697 76,918
Lease expense 6,200 11
Risk benefit charges 942,285
Insurance 1,630,967
Total operating expenses 1,790,857 4,135,894 1,631,346
Operating income (loss) (125,720) (609,329) 4,176 11
Nonoperating revenue (expense) I]
Interest revenue 5,721 3,499
Sale of property 300
Other revenue (expense) 145,035 2,257 11
Interest expense (4,173)
Total nonoperating revenue (expense) 150,756 6,056 (4,173)
Income (loss) before transfers 25,036 (603,273) 3 I:
Transfers in (out)
Transfers out I;
Change in net assets 25,036 (603,273) 3
Total net assets - beginning 564,245 (44,464) 3,965
Prior period adjustment (25,223) 288,546 Ii
Total net assets - beginning, as restated 539,022 244,082 3,965 Ii
Total net assets - ending $ 564,058 $ (359,191) $ 3,968
I:
I
140 I'
Augusta, Georgia
Combining Statement of Cash Flows
Internal Service Funds
Year Ended December 31,2003
I
1-
r
I~
Risk Fleet Workers
Management Operations Compensation
Operating activities
Cash received from contributions $ 1,665,137 $ 3,757,616 $ 1,635,522
Cash paid to suppliers (1,435,390) (4,258,496) (1,586,003)
Cash paid to employees (283,579) (103,496)
Cash paid for interfund services used (379)
Net cash provided by (used in) operating activities (53,832) (604,376) 49,140
Noncapital financing activities
Transfers in (out)
Interest expense on operating capital (4,173)
Other revenue 145,035 2,257
Net cash provided (used) by noncapital financing
activities 145,035 2,257 (4,173)
Capital and related financing activities
Proceeds from sale of property 299
Purchase of capital assets
Interest paid on capital debt
Net cash provided (used) by capital and related
financing activities 299
Investing activities
Interest received 5,721 3,499
Net cash provided by investing activities 5,721 3,499
Net increase (decrease) in cash and cash equivalents 96,925 (598,321) 44,967
Cash and cash equivalents/investments
Beginning of year 647,311 598,321 92,373
End of year $ 744,236 $ $ 137,340
11
I~
1-1
1'"1
..J
I"J
I~;
'l
IJ
I;
I)
Ij
I:
I:
I~
I~
I
142
I
I
I
I Long-term Total
Employee Disability GMA Internal Service
Health Benefits Unemployment Insurance Leases Funds
I $ 14,138,601 $ $ 192,912 $ 828,859 $ 22,218,647
(13,950,870) (119,173) (177,182) 50,748 (21,476,366)
I (387,075)
(379)
I 187,731 (I 19,173) 15,730 879,607 354,827
(182,288) 182,288 3,268,818 3,268,818
I (6,268) (73) (10,514)
147,292
I (188,556) 182,288 (73) 3,268,818 3,405,596
I 299
1
(3,555,460) (3,555,460)
I (3,555,460) (3,555,160)
I 341,378 350,598
341,378 350,598
I (825) 63,115 15,657 934,343 555,861
825 118 12,164,602 13,503,550
I $ $ 63,233 $ 15,657 $ 13,098,945 $ 14,059,411
I
I
I
,I
I 143
Risk
Management
Fleet
Operations
Workers
Compensation
I'
t
Il
IJ
Il
Il
f;]
IJ
IJ
Augusta, Georgia
Combining Statement of Cash Flows - Continued
Internal Service Funds
Year Ended December 31, 2003
Reconciliation of operating income (loss)
to net cash provided by
(used in) operating activities
Operating income (loss)
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating
activities:
Depreciation
$
(125,720) $
(609,329)
$ 4,176
19,697
76,918
Change in assets and liabilities:
Accounts receivable
Accounts payable
Accrued salaries and vacation
Due to other funds
Total adjustments
49,314 (304,787) 44,964
2,877 1,771
231,051
71,888 4,953 44,964
(53,832) $ (604,376) $ 49,140
r~1
IJ
'-~1
11
11
11
11
IJ
I;
IJ
I]
-
Ii
Net cash provided by (used in) operating activities
$
144
~I
~!I
)1
I
,I
"I
,I
'I
"1
',I
,~I
-'I
I
~I
'I
I
,1
I
I
Long-term
Employee Disability
Health Benefits Unemployment Insurance
GMA
Leases
Total
Internal Service
Funds
$ 128,570 $ (182,288) $ 15,750 $
(2) $ (768,843)
96,615
1,212,886 1,212,886
(2,955) 63,115 50,748 (99,601)
4,648
62,116 (20) (384,025) (90,878)
59,161 63,115 (20) 879,609 1,123,670
$ 187,731 $ (119,173) $ 15,730 $ 879,607 $ 354,827
145
Augusta, Georgia
Combining Statement of Fiduciary Net Assets
Pension Trust Funds
December 31, 2003
1945 1977 General
Plan Plan Retirement Total
Assets
Cash and cash equivalents $ 1,004,284 $ 1,823,993 $ 1,535,444 $ 4,363,721
Investments
U.S. Government securities 1,593,980 3,249,645 15,681,261 20,524,886
Corporate bonds 2,268,616 3,140,379 11,629,740 17,038,735
Equity securities 4,896,223 7,997,290 34,498,278 47,391,791
Real estate 1,700,000 1,700,000
Receivables (net of allowance for doubtful accounts)
Interest 64,568 107,510 478,975 651,053
Due from other funds 100,000 100,000
Total assets 9,927,671 16,318,817 65,523,698 91,770,186
Liabilities
Accounts payable 1,780 1,129 6,258 9,167
Due to other funds 370,525 370,525
Total liabilities 1,780 1,129 376,783 379,692
Net assets
Reserved for employees' retirement benefits $ 9,925,891 $ 16,317,688 $ 65,146,915 $ 91,390,494 '
150
rl
II
J
n
I)
[l
Ii
t
11
1-'
I)
11
I~]
["..,
II
IJ
r~--'l
I]
I]
I)
I~
I..
i
I,
( 1
I
I,
:1
I
I
I
'I
,I
,I
I
,I
,I
I
,I
11
,I
,I
I
,I
,I
I
I
Augusta, Georgia
Combining Statement of Changes in Fiduciary Net Assets
Pension Trust Funds
Year Ended December 31,2003
1945 1977 General
Plan Plan Retirement Total
Additions
Contributions $ 10,290 $ 1,727,763 $ 364,431 $ 2,102,484
Net investment income 1,163,582 1,820,968 8,164,078 11,148,628
Transfers in 1,305,030 1,305,030
Total additions 1,173,872 3,548,731 9,833,539 14,556,142
Deductions
Administration 68,213 153,011 369,361 590,585
Benefit payments 895,848 608,313 4,344,211 5,848,372
Refunds 192,799 32,514 225,313
Total deductions 964,061 954,123 4,746,086 6,664,270
Change in net assets 209,811 2,594,608 5,087,453 7,891,872
Total net assets - beginning 9,716,080 13,723,080 60,059,462 83,498,622
Total net assets - ending $ 9,925,891 $ 16,317,688 $ 65,146,915 $ 91,390,494
151
r--'
I,
Augusta, Georgia ,-,
Combining Statement of Changes in Fiduciary Assets and Liabilities J
Agency Funds
December 31, 2003 11
r-1
January 1, 2003 Additions Deductions December 31, 2003 IJ
Tax Commisioner
Assets rl
Cash and cash equivalents $ 9,342,951 $ 130,229,938 $ 136,727,487 $ 2,845,402 I]
Receivables
(net of allowance for doubtful accounts)
Taxes 31,508,116 123,529,758 130,229,938 24,807,936 (1
Total assets $ 40,851,067 $ 253,759,696 $ 266,957,425 $ 27,653,338
Liabilities 11
Due to others $ 6,003,448 $ 79,614,227 $ 83,558,106 $ 2,059,569
Due to other funds 3,339,503 50,615,711 53,169,381 785,833
Uncollected taxes 31,508,116 123,529,758 130,229,938 24,807,936 '~-l
Total liabilities $ 40,851,067 $ 253,759,696 $ 266,957,425 $ 27,653,338 Ii
Probate
Assets Il
Cash and cash equivalents $ 6,333 $ 265,956 $ 266,369 $ 5,920 I]
Total assets $ 6,333 $ 265,956 $ 266,369 $ 5,920
Liabilities 11
Due to others $ 5,583 $ 77,271 $ 77,750 $ 5,104
Due to other funds 750 188,685 188,619 816 '--I
Total liabilities $ 6,333 $ 265,956 $ 266,369 $ 5,920 I;
Sheriff
Assets 11
Cash and cash equivalents $ 1,067,662 $ 2,717,856 $ 2,496,315 $ 1,289,203
Total assets $ 1,067,662 $ 2,717,856 $ 2,496,315 $ 1,289,203
Liabilities I)
Due to others 1,067,662 2,717,856 2,496,315 1,289,203
Total liabilities $ 1,067,662 $ 2,717,856 $ 2,496,315 $ 1,289,203 f~- -")
Civil Court IJ
Assets I;
Cash and cash equivalents $ 3 10,254 $ 2,561,281 $ 2,425,867 $ 445,668
Total assets $ 310,254 $ 2,561,281 $ 2,425,867 $ 445,668
Liabilities ' ,
Ii
Due to others $ 305,900 $ 2,527,020 $ 2,387,900 $ 445,020
Due to other funds 4,354 34,261 37,967 648
Total liabilities $ 310,254 $ 2,561,281 $ 2,425,867 $ 445,668 I:
I
154
I'
,I
I
JI
il
il
JI
:1
,I
;1
,
:1
il
,I
il
I
,I
I
.1
'I
I
Augusta, Georgia
Combining Statement of Changes in Fiduciary Assets and Liabilities - Continued
Agency Funds
December 31,2003
Liabilities
January 1, 2003 Additions Deductions December 31,2003
$ 2,393,551 $ 13,459,997 $ 12,800,213 $ 3,053,335
$ 2,393,551 $ 13,459,997 $ 12,800,213 $ 3,053,335
$ 1,837,514 $ 5,851,052 $ 5,214,570 $ 2,473,996
556,037 7,608,945 7,585,643 579,339
$ 2,393,551 $ 13,459,997 $ 12,800,213 $ 3,053,335
Clerk of Court
Assets
Cash and cash equivalents
Total assets
Due to others
Due to other funds
Total liabilities
TOTAL ALL AGENCY FUNDS:
Assets
Cash and cash equivalents
Receivables
(net of allowance for doubtful accounts)
Taxes
$ 13,120,751 $
149,235,028 $
154,716,251 $
7,639,528
31,508,116
$ 44,628,867 $
123,529,758
272,764,786 $
130,229,938
284,946,189 $
24,807,936
32,447,464
Total assets
Liabilities
Due to others
Due to other funds
Uncollected taxes
Total liabilities
$ 9,220,107 $
3,900,644
31,508,116
$ 44,628,867 $
90,787,426 $
58,447,602
123,529,758
272,764,786 $
93,734,641 $
60,981,610
130,229,938
284,946,189 $
6,272,892
1,366,636
24,807,936
32,447,464
155
'I
I
I
.1
,I
II
:1
,I
,I
'I
~I
I
il
il
,I
I
,I
,I
,I
I
AUGUSTA, GEORGIA
Schedule of Expenditures of Federal Awards - Continued
Year Ended December 31, 2003
Federal Grantor / Federal Agency or
Pass-through Grantor / FDA Pass-through Federal
Program Title Number Number Expenditures
U.S. Department of Transportation
Direct Programs
Federal Aviation Administration
Airport Improvement Program Grants 20.106 3-13-0011-23 31,899
20.106 3-13-0011-24 476,942
20.106 3-13-0011-25 423,295
20.106 3-13-0011-26 296,925
20.106 3-13-0012-08 123,050
20.106 3-13-0012-09 130,393
1,482,504
Grant In Aid Security Requirements N/A DTSA20-03-P-5041I 502,190
After September II, 200 I
Small Community Air Service Development 20.XXX SCASDPP 11590-183 112,743
Pilot Program
Total U.S. Department of Transportation 3,118,296
U.S. Department of Homeland Security
Direct Programs
Reimbursable Agreement Security Requirements N/A HSTSO 1-04-A-LEF003 17,154
After September 'I 1, 2001
U.S. Environmental Protection Agency
Direct Programs
Brownfield Pilots Cooperative Agreements 66.811 BP984866-99-0 71,145
Emergency Management Agencv
Pass-through from the Georgia Emergency
Management Agency
Hazard Mitigation Grant 83.548 1311-000 I 483,243
Flood Mitigation Assistance Program 83.536 FLA-PL-04GA-200000 I 21,200
Local Emergency Operation Plan 53.562 EMA-202-GR-5072 7,129
Total Emergency Management Agency 511 ,572
U.S. Department ofInterior
Historic Preservation Fund Grant-in-Aid Program 15.904 13-03-18210-0 I 5,472
U.S. Department of Defense
Military Surplus Program N/A N/A 63,000
Total $ 7,898,663
The accompanying notes are an integral part of the schedule, of expenditures of federal awards.
159
AUGUSTA, GEORGIA
Notes to the Schedule of Expenditures of Federal Awards
Year Ended December 31, 2003
Note 1 - Basis of presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Augusta,
Georgia, and is presented on the accrual basis of accounting. The information in this schedule is presented in
accordance with the requirements of OMB Circular A-l33, Audits 0/ States, Local Governments, and Non-Profit
Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used
in the preparation of, the basic [mancial statements.
Note 2 - Reporting entity
The accompanying schedule of expenditures of federal awards includes the accounts of all Augusta and Richmond
County operations. The Government uses the criteria for including organizations as component units within
Augusta's reporting entity, as set forth in Section 2100 of GASB's Codification o/Governmental Accounting and
Financial Reporting Standards. Excluded from the accompanying schedule of federal awards is the Government's
discretely presented component unit, Richmond County Department of Health. Separate [mancial statements may
be obtained from the Richmond County Department of Health at 950 Laney Walker Blvd., Augusta, Georgia 30901.
Note 3 - Non-cash awards
Augusta, Georgia received non-cash federal awards of surplus military equipment totaling $63,000 during the year
ended December 31, 2003.
160
Il
Il
1
IJ
11
C"'!
II
['-,
Ii
11
I-j
11
I]
jJ
11
11
11
I)
I~
I;
I
Ii
; ,
I
I
161
I
AUGUST A, GEORGIA
Summary Schedule of Prior Audit Findings
I
Year Ended December 31,2003
I
Findinl! 00-1 (repeat finding)
U.S. Department of Justice CFDA 16.592; Local Law Enforcement Block Grant
I
Criteria
The Grant Award Letter Special Conditions number 8, "the recipient agrees to establish a trust fund in which all
payments received under this program, including match, must be deposited. For purposes of this grant, a trust
fund is an interest-bearing account that is specifically designated for this program...".
I
I
Condition noted
Augusta, Georgia did not establish a specifically designated trust fund for receipts under this program. Receipts
were deposited in the pooled cash account of Augusta, Georgia and were initially recorded as receipts on the
trial balance of another fund.
I
Recommendation
Augusta, Georgia should set up a separate interest-bearing account for Local Law Enforcement Block Grant
receipts, transfer in unexpended grant balances to this account and notify the Department of Justice to, in the
future, wire advances to this account for Local Law Enforcement Block Grant funds only.
I
Current Status
Repeat fmding this fiscal year.
I
Findinl! 01-1
U.S. Department of Housing and Urban Development - CFDA 14.239; HOME Investment Partnership
Program.
I
Criteria
24CFR Section 92.508(a)(2)(ix) requires a report on match contributions made, using a separate HOME Match
Report, HUD-4107-A, for the period covered by the Consolidated Plan Program Year, and must comply with
those provisions to indicate resources from private and non-Federal sources. The applicable regulations for this
standard are 92.220, 91.220(b )(2), 91.320(b )(2), 91.320(b )(2), and 91.420(b).
I
I
I
I
I
I
I
I
I
AUGUSTA, GEORGIA
Summary Schedule of Prior Audit Findings - Continued
Year Ended December 31,2003
Condition noted
The 2001 CAPER (Consolidated Annual Performance and Evaluation Report) did not provide evidence of the
Augusta-Richmond County's compliance with the match requirements under HOME, as required in the
regulation.
Recommendation
The City's Housing and Neighborhood Development Office should develop a [mancial reporting system that
tracks match obligations and match contributions to ensure that the match requirements will be met by the end
of the respective program year.
Current Status
Corrected during this fiscal year.
Finding 02-1
Internal control over compliance with federal awards.
U.S. Department of Housing and Urban Development - CFDA 14.239; HOME Investment Partnership
Program.
Criteria
24CFR Section 92.508 requires each participating jurisdiction to establish and maintain sufficient records to
enable HUD or their agents to determine whether the participating jurisdiction has met the requirement of
Program Administration.
Condition noted
Internal control over record keeping for the HOME Investment Partnership Program was not adequate to ensure
that accurate information is accessible to those who need it. There was no evidence that the HOME Program
Director established a record keeping system to ensure that accounting records and documentation were retained
for the time period required by applicable requirements of the A-102 common rule.
Recommendation
The City's Housing and Neighborhood Development Office should establish formal internal controls that
ensure maintenance, review, and reconciliation of program and project records on a contemporaneous basis with
the expenditure of federal funds associated with the program and projects.
Current Status
Corrected during this fiscal year.
162
r
I
I
I
I'
I
I
r--
I
r-
1
f~
I
I
r~
I"
r~>
I,
r-
1
I
I
I
I
i
I
I
,
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
CERTIFIED PUBLIC
ACCOuNTANTS &
CONSULTANTS
Report on Compliance and on Internal Control over Financial
Reporting Based on an Audit of Financial Statements Performed
in Accordance with Government Auditing Standards
Augusta-Richmond County Commission
Augusta, Georgia
We have audited the fmancial statements of Augsuta, Georgia as of and for the year ended December 31, 2003, and
have issued our report thereon dated May 21,2004. We conducted our audit in accordance with auditing standards
generally accepted in the United States of America and the standards applicable to fInancial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States.
Compliance
As part of obtaining reasonable assurance about whether Augusta, Georgia's fmancial statements are free of material
misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and
grants, noncompliance with which could have a direct and material effect on the determination of fmancial statement
amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit,
and accordingly, we do not express such an opinion. The results of our tests disclosed instances of noncompliance
that are required to be reported under Government Auditing Standards and which are described in the accompanying
schedule of fIndings and questioned costs as items 03-1.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered Augusta, Georgia's internal control over financial reporting in
order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and
not to provide assurance on the internal control over fInancial reporting. Our consideration of the internal control
over financial reporting would not necessarily disclose all matters in the internal control that might be rnaterial
weaknesses. A material weakness is a condition in which the design or operation of one or more of the internal
control components does not reduce to a relatively low level the risk that misstatements in amounts that would be
material in relation to the financial statements being audited may occur and not be detected within a timely period by
employees in'the normal course of performing their assigned functions. We noted no matters involving the internal
control over financial reporting and its operation that we consider to be material weaknesses. However, we noted
other matters involving the internal control over financial reporting, which we have reported to management of
Augusta, Georgia in a separate letter dated May 21, 2004.
This report is intended solely for the information and use of the finance committee, management, the Augusta-
Richmond County Commission, federal awarding agencies and pass-through entities and is not intended to be and
should not be used by anyone other than these specified parties.
~,~~7~/.../...1!
Augusta; Georgia
May21,2004
163
Report on Compliance with Requirements Applicable to Each Major
Program and Internal Control Over Compliance in
Accordance with OMB Circular A-133
j
I
I~
(
j
(
I'
I'
1
I'
I
I
CERTIFIED PUBLIC
ACCOt:NTANTS &
CONSULTANTS
Augusta-Richmond County Commission
Augusta, Georgia
Compliance
We have audited the compliance of Augusta, Georgia with the types of compliance requirements described in the
Us. Office of Management and Budget (OMB) Circular A-J 33 Compliance Supplement that are applicable to each
of its major federal programs for the year ended December 31, 2003. Augusta, Georgia's major federal programs
are identified in the ~ummary of auditor's results section of the accompanying schedule of findings and questioned
costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major
federal programs is the responsibility of Augusta, Georgia's management. Our responsibility is to express an
opinion on Augusta, Georgia's compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States
of America; the standards applicable to [mancial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States; and 0MB Circular A-l33, Audits of States, Local Governments, and Non-
Profit Organizations. Those standards and OMB Circular A-l33 require that we plan and perform the audit to
obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to
above that could have a direct and material effect on a major federal program occurred. An audit includes
examining, on a test basis, evidence about Augusta, Georgia's compliance with those requirements and performing
such other procedures as we considered necessary in the circumstances. We believe that our audit provides a
reasonable basis for our opinion. Our audit does not provide a legal determination on Augusta, Georgia's
compliance with those requirements.
In our opinion, Augusta, Georgia complied, in all material respects, with the requirements referred to above that are
applicable to each of its major federal programs for the year ended December 31, 2003. However, the results of our
auditing procedures disclosed instances of noncompliance with those requirements, which are required to be
reported in accordance with OMB Circular A-133 and which are described in the accompanying schedule of
findings and questions costs as items 00-1 and 03-2.
,
I
Internal Control Over Compliance
The management of Augusta, Georgia is responsible for establishing and maintaining effective internal control over
compliance with requirements of laws, regulations, contracts and grants applicable to federal programs. In planning
and performing our audit, we considered Augusta, Georgia's internal control over compliance with requirements
that could have a direct and material effect on a major federal program in order to determine our auditing procedures
for the purpose of expressing our opinion on compliance and to test and report on the internal control' over
compliance in accordance with OMB Circular A-133.
,
I
I
I
I
164
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
We noted no matters involving the internal control over compliance and its operation that we consider to be
reportable conditions. Reportable conditions involve matters coming to our attention relating to significant
deficiencies in the design or operation ofthe internal control over compliance that, in our judgment, could adversely
affect Augusta, Georgia's ability to administer a major federal program in accordance with applicable requirements
of laws, regulations, contracts and grants.
A material weakness is a condition in which the design or operation of one or more of the internal control
components does not reduce to a relatively low level the risk that noncompliance with the applicable requirements of
laws, regulations, contracts and grants that would be material relation to a major federal program being audited may
occur and not be detected within a timely period by employees in the normal course of performing their assigned
functions. Our consideration of the internal control over compliance would not necessarily disclose all matters in
the internal control that might be reportable conditions and, accordingly, would not necessarily disclose all
reportable conditions that are also considered to be material weaknesses.
This report is intended solely for the information and use of management, the Augusta-Richmond County
Commission, and federal awarding agencies and pass-through entities and is not intended to be and should not be
used by anyone other than these specified parties.
~/~~7~44~
Augusta, Georgia
May21,2004
165
AUGUSTA, GEORGIA
Schedule of Findings and Questioned Costs
Year Ended December 31, 2003
I. Summary of the Auditor's Results
The auditor's report expresses unqualified opinions on the financial statements of Augusta, Georgia as of and
for the year ended December 31,2003.
No material weaknesses were identified. No reportable conditions in internal control were identified. '
One instance of noncompliance is required to be reported in accordance with Government Auditing Standards,
was disclosed by the audit as audit fmding 03-1.
No reportable conditions in internal control over major federal award programs were disclosed by the audit as
required to be reported in accordance with OMB Circular A-l33.
The auditor's report expresses an unqualified opinion on compliance for major federal award programs for
Augusta, Georgia as of and for the year ended December 31, 2003.
The audit disclosed findings required to be reported in accordance with OMB Circular A-l33, Section 51O(a) as
Finding Numbers 00-1 and 03-2.
Identification of Major Programs
CFDA Number
Name of Federal Program or Cluster
14.239
14.231
U.S. Department of Housing and Urban Developrnent
HOME Investment Partnerships Program
Emergency Shelter Grant
16.592
U.S. Department of Justice
Local Law Enforcement Block Grant
DTSA20-03-P-50411
20.106
U.S. Department of Transoortation
MOA - Security Reimbursements - TSA
Airport Improvement Program Grants
We used a threshold of $300,000 to distinguish between Type A and Type B programs.
Augusta, Georgia is a low-risk auditee.
166
I
I
I
I
I
I
I
I
I
I
I
I
f
I
-
I
I
I
,
I
I
167
I
AUGUSTA, GEORGIA
Schedule of Findings and Questioned Costs - Continued
I
Year Ended December 31, 2003
I
II. Findings related to Financial Statements
I
Finding 03-1
Budgetary compliance
I
Criteria
The State of Georgia local government budgets and audits code states that the legal level of control shall be, at
a minimum, expenditures for each department for each fund for which a budget is prepared (Article I section
14).
I
Condition noted
We noted that several departments across the government had expenditures above appropriations for the fiscal
year.
I
Recommendation
Augusta-Richmond County should increase the budget level of control to the department level.
I
III. Findings and Questioned Costs for Major Federal Award Programs Audit
I
Finding 00-1 (repeat fInding)
U.S. Department of Justice CFDA 16.592; Local Law Enforcement Block Grant
I
Criteria
The Grant A ward Letter Special Conditions number 8 states, "the recipient agrees to establish a trust fund in
which all payment received under this program, including match, must be deposited. For purposes of this
grant, a trust fund is an interest-bearing account that is specifically designated for this program... ".
I
Condition noted
Augusta, Georgia did not establish a specifically designated trust fund for receipts under this program.
Receipts were deposited in the pooled cash account of Augusta, Georgia and were initially recorded as receipts
on the trial balance of another fund.
I
I
Recommendation
Augusta, Georgia should set up a separate interest-bearing account for Local Law Enforcement Block Grant
receipts, transfer any unexpended grant balances to this account and notify the Department of Justice to, in the
future, wire advances to this account for Local Law Enforcement Block Grant funds only.
I
Finding 03-2
U.S. Department of Transportation DTSA20-03-P-5041; MOU - Security Reimbursements
I
Criteria
OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments Section C(1)(h), "Factors
Affecting Allowability of Costs - Not be included as a cost or used to meet cost sharing or matching
requirements of any other Federal award in either the current or a prior period."
I
I
I
I
AUGUST A, GEORGIA
168
r
I
I
I
I
I
I
I
I
I
I
I
I
I
,
I
,
I
I
I
I
I
I
Schedule of Findings and Questioned Costs - Continued.
Year Ended December 31,2003
Condition noted
The City's Augusta Regional Airport at Bush Field requested security cost reimbursements for $39,000 of
known questioned costs, under the DTSA20-03-P-5041 Memorandum of Understanding that had previously
been reimbursed under the Airport Improvement Program grant. Controls over record keeping for the initial
period of eligibility under the Memorandum of Understanding were not sufficient to ensure that funds were not
previously drawn under the AlP grant.
Recommendation
The City's Augusta Regional Airport at Bush Field should develop controls over record keeping that include
review and approval of reimbursement requests by both the Security Program Director and the Finance
Director to assure proper administration of Federal Awards.