HomeMy WebLinkAboutAnnual Financial Statements
Augusta Richmond GA
DOCUMENTNAME: A'(\'(\uQ\ t\~ 'S-\a\~S
DOCUMENT TYPE: .
YEAR: C\?;
BOX NUMBER: :;Jj,
FILE NUMBER: '1 d ~l
NUMBER OF PAGES: _._~-' \~
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Annual Financial Statements
December 31,1998
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Table of Contents
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Report of Independent Certified Public Accountants
General-Purpose Financial Statements:
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Combined Balance Sheet - All Fund Types and Account Groups
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Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental
Fund Types and Expendable Trust Funds
Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget (GAAP
Basis) and Actual- General, Special Revenue, Debt Service and Capital Projects Fund Types
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Combined Statement of Revenues, Expenses and Changes in Retained Earnings/Fund Balances -
All Proprietary Fund Types and Similar Trust Funds
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Combined Statement of Cash Flows - All Proprietary Fund Types and Nonexpendable Trust Funds
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Pension Trust Funds - Statements of Plan Net Assets
Pension Trust Funds - Statements of Changes in Plan Net Assets
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Notes to Financial Statements
Pension Plan Required Supplementary Information
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Year 2000 Readiness Required Supplementary Information
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Combining and Individual Fund Financial Statements:
General Fund
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Combining Balance Sheet
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
General Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
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Canal Authority Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
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Law Enforcement Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
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State Grants Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit) - Budget (GAAP
Basis) and Actual
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Port Authority Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
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Local Law Enforcement Block Grants Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit) - Budget (GAAP
Basis) and Actual
Special Revenue Funds
Combining Balance Sheet
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Urban Services District Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit) - Budget (GAAP
Basis) and Actual
Emergency Telephone System Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit) - Budget (GAAP
Basis) and Actual
Capital Outlay Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance- Budget (GAAP Basis)
and Actual
Law Enforcement Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
Fire Protection Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
Occupational Tax Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit)-
Budget (GAAP Basis) and Actual
Special Assessment Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
Promotion/Tourism Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
Housing and Neighborhood Development Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
Urban Development Action Grant Fund (UDAG):
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
Downtown Development Authority Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
State Capital Grants Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
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Debt Service Funds
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Combining Balance Sheet
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Combining Statement of Revenues, Expenditures and Changes in Fund Balances
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Debt Service Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
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Urban Debt Service Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
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Capital Proiects Funds
Combining Balance Sheet
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Combining Statement of Revenues, Expenditures and Changes in Fund Balances
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Community Development Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit) - Budget (GAAP
Basis) and Actual
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Special Sales Tax Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
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Special Sales Tax. Phase II Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
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Special Sales Tax. Phase III Fund:
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis)
and Actual
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Enterprise Funds
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Combining Balance Sheet
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Combining Statement of Revenues, Expenses and Changes in Retained Earnings (Deficits)
Combining Statement of Cash Flows
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Internal Service Funds
Combining Balance Sheet
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Combining Statement of Revenues, Expenses and Changes in Retained Earnings (Deficits)
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Combining Statement of Cash Flows
Trust and Agency Funds
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Combining Balance Sheet
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Agency Funds
Combining Statement of Changes in Assets and Liabilities
Expendable Trust Funds
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit)
Nonexpendable Trust Funds
Combining Statement of Revenues, Expenses and Changes in Fund Balances
Pension Trust Funds
Combining Statement of Revenues, Expenses and Changes in Fund Balances
Nonexpendable Trust Funds
Combining Statement of Cash Flows
Compliance Section:
Independent Auditors' Report on Schedule of Expenditures of Federal Awards
Schedule of Expenditures of Federal Awards
Summary Schedule of Prior Audit Findings
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-133
Schedule of Findings
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REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
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To the Board of Commissioners
Augusta-Richmond County
Augusta-Richmond County, Georgia
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We have audited the accompanying general-purpose financial statements of Augusta-Richmond County, Georgia as of
and for the year ended December 3 I, 1998, as listed in the table of contents. These general-purpose fmancial statements
are the responsibility of the County's management. Our responsibility is to express an opinion on these general-purpose
financial statements based on our audit. .
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We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards,
issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the general-purpose fmancial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general-purpose
financial statements. An audit also includes assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall general-purpose financial statement presentation. We believe that our
audit provides a reasonable basis for our opinion.
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In our opinion, the general-purpose fmancial statements referred to above present fairly, in all material respects, the
financial position of Augusta-Richmond County, Georgia as of December 31, 1998, and the results of its operations and
cash flows of its proprietary and fiduciary fund types for the year then ended in conformity with generally accepted
accounting principles.
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The year 2000 supplementary information on page 51 is not a required part of the basic financial statements but is
supplementary information required by the Governmental Accounting Standards Board, and we did not audit and do
not express an opinion on such information. Further, we were unable to apply to the information certain procedures
prescribed by professional standards because ofthe nature of the subject matter underlying the disclosure requirements
and because sufficiently specific criteria regarding the matters to be disclosed have not been established. In addition,
we do not provide assurance that Augusta-Richmond County is or will become year 2000 compliant, that Augusta-
Richmond County's year 2000 remediation efforts will be successful in whole or in part or that parties with which
Augusta-Richmond County does business are or will become year 2000 compliant.
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In accordance with Government Auditing Standards, we have also issued a report dated July 30, 1999 on our
consideration of Augusta-Richmond County's internal control structure and a report dated July 30, 1999 on its
compliance with laws and regulations.
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Our audit was conducted for the purpose of fon:ning an opinion on the general-purpose financial statements taken as
a whole. The combining and individual fund financial statements listed in the table of contents are presented for
purposes of additional analysis and are not a required part of the general-purpose financial statements of Augusta-
Richmond County, Georgia. Such information has been subjected to the auditing procedures applied in the audit of the I
general-purpose financial statements and, in our opinion, is fairly presented in all material respects in relation to the
general-purpose financial statements taken as a whole. . /
t 6 J. - + f Ljc/ ~LA-t// j" L,/t!
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Augusta, Georgia
July 30, 1999
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General-Purpose Financial Statements
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Combined Balance Sheet - All Fund Types and Account Groups
December 31,1998
ASSETS
General
ASSETS AND OTHER DEBITS
Cash and temporary investments
Investments
Receivables (net of allowances for uncollectibles)
Taxes
Accounts
Loans
Interest
Note
Intergovernmental
Other
Prepaid expenses
Inventory
Restricted assets:
Certificates of participation investments:
Acquisition/construction account
Reserve account
Revenue bond cash and investments:
Construction account
Current debt service account
Issuance costs account
Sinking fund account
Customer deposits
Deferred compensation investments
Real estate investment
Due froin other funds - current portion
Property, plant and equipment (net)
Due from other funds - long-term portion
Other assets:
Deferred bond issuance costs
Revenue bond discount
Other debits:
Amount available in debt service fund
Amount to be provided for retirement of general
long-term debt
Governmental Fund Types
Special
Revenue
Debt
Service
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Capital
Proiects
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$14,982,025 $16,631,627 $1,022,175 $68,377,507
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13,381,469
444,533
86,301
1,219,371
7,915
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10,000
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Total assets and other debits
$34.379.327 $23.314,975 $3.320,047 $70,747,815
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See notes to financial statements.
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Proprietary Fiduciary Totals
1 Fund Types Fund Type Account Groups (Memorandum Only)
General General
Internal Trust and Fixed Long-term
Enterprise Service Agency Assets Debt 1998 1997
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$ 1,442,996 $1,718,623 $ 3,737 $ $ $ 7,947,407 $ 6,903,189
1,368,424 1,574,020 1,793,726
I 4,172,751 4,172,751 2,735,863
3,085,453 28,934 2,908,413 16,257,718 17,693,454
587,850 22,081 2,492,062 4,499,412 6,625,283
I 515,669 143,244
989,616 989,616 1,681,740
3 I , 104 3 1 ,104 31,938
I 5,926 5,926 6,967
1,190,000 1,190,000 6,166,936
52,167 52,167 47,300
I 10,370,525 10,370,525 8,895,00 I
10,501,324 9,128,143
6,372,437 6,372,437 5,179,085
1 1,705,000 4,130,000 5,835,000 5,875,000
66,851,543 12,813,809 79,665,352 77,236,431
18,877,321 2,248,555 21,125,876 21,722,550
I 3,017,458 3,017,458 4,605,354
4,668,823 4,668,823 4,954,982
5.637,158 5,637,158 4,797,529
101,824.558 1,769.638 23.827.863 29.370.707 184.429.743 186.223.715
I 63,942,849 63,942,849 63,895,209
163,969,692 163,969,692 143,273,920
I 21,529,379
1,735,377 1,735,377 20,099
86,405,910 725,290 87,131,200 76,615,802
I 64,870,876 . 51,689,088
898,084 2,865,358 2,658,622
1 106,336 217,082
71,157,767 71,157,767 66,391,882 I
3,186,286 3,252,807
I 244,833 244,053
4,955,061 4,955,061
23.751.569 52.546.090 50.774,174
152.084.136 725.290 95,807.420 163.969.692 516.711.725 463.987.799
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$253.908.694 $2.494.928 $119.635.283 $163,969.692 $29.370.707 $701.141,468 $650,211.514
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - All Governmental Fund Types and Expendable Trust Funds
Year Ended December 31, 1998
Governmental Fund Types
Special Debt Capital
General Revenue Service Proiects
REVENUES
Taxes $54,539,294 $ 28,382,875 $1,285,307 $28,701,125
Licenses and permits 1,882,135 1,611,153
Use of money and property 1,464,238 484,369 129,420 3,130,324
Charges for services 4,214,266 1,991,884
Fines and fees 7,220,710
Intergovernmental 1,570,403 3,314,711
Cost reimbursements 3,818,155 1,413,989
Sale of property 994,575
Other 2,916 361.049 28.155
Total revenues 74.712.117 37.140,616 1.414,727 33,273.593
EXPENDITURES
Administration 8,979,316 2,231,429
Economic, community and environmental 552,045 6,528,850
Finance and tax administration 5,016,781 759,021
Judicial 7,576,259 231,353
Public safety 31,487,212 15,404,626
Public works 6,463,472 6,2 J 3,223
Health and welfare 4,051,476
Culture and recreation 7,038,742 467,329
Debt service 1,614,877 3,129,570 1,487,608
Capita] outlay 3,925,796 20,723,195
Other 308,197 53,659
Total expenditures 77,014.173 35,019,060 1.487,608 20.723.195
Excess of revenues over (under) expenditures (2,302,056) 2,121,556 ( 72,881) 12,550,398
OTHER FINANCING SOURCES (USES)
Capita] leases 82,394
Operating transfers in ]3,645,301 9,609,846 6,360
Operating transfers out (9,259.900) (14.662,012) (1,785.647)
Excess of revenues over (under) expenditures
and other financing sources (uses) 2,083.345 ( 2.848.216) ( 66,521 ) 10.764.751
Fund balances, beginning of year, as previously stated 24,404,274 11,390,148 3,252,807 5 ],933,141
Prior period adjustments (Note 7) 219.505 574.136 2.417,817
Fund balances, beginning of year, as restated 24.623,779 11 ,964.284 3.252.807 54.350.958
Fund balances, end of year $26,707,124 $ 9.116,068 $3.186.286 $65.115.709
See notes to financial statements.
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I Fiduciary Totals
Fund Type (Memorandum Only)
Expendable
I Trust 1998 1997
$ $112,908,601 $104,500,175
3,493,288 3,513,016
I 51,344 5,259,695 4,980,594
6,206,150 6,028,268
7,220,710 7,228,185
I 4,885,114 3,904,950
5,232,144 3,798,260
994,575
I 1.062 393.182 1.153.892
52.406 146.593.459 135.107.340
11,210,745 8,296,819
I 7,080,895 5,804,365
5,775,802 5,178,295
7,807,612 7,371,118
I 46,891,838 43,038,420
12,676,695 12,519,988
4,051,476 5,833,040
.1 7,506,071 7,605,078
6,232,055 212,404
24,648,991 6,345,443
17.463 379.319 37 .590.485
1 17.463 134.261.499 139.795.455
34,943 12,331,960 ( 4,688,115)
I 82,394 1,102,173
23,261,507 14,473,018
(25.707.559) (15.005.470)
I 34.943 9.968.302 ( 4.118.394)
519,166 91,499,536 100,159,866
3.211.458 ( 4.54 1.936)
I 519.166 94.710.994 95.617.930
$554.109 $104.679.296 $ 91.499.536
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Variance
Favorable
(Unfavorable)
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Combined Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget (GAAP Basis) and Actual- General, Special Revenue,
Debt Service and Capital Projects Fund Types
REVENUES
Taxes
Licenses and permits
Use of money and property
Charges for services
Fines and fees
Intergovernmental
Cost reimbursements
Sale of property
Other
Total revenues
EXPENDITURES
Administration
Economic, community and
environmental
Finance and tax administration
Judicial
Public safety
Public works
Health and welfare
Culture and recreation
Debt service
Capital outlay
Other
Year Ended December 31, 1998
General
Special Revenue
Budget
10,849,293
673,501
5,432,483
7,862,979
35,198,863
6,795,557
4,071,055
7,220,096
1,621,244
4,689,327
84.414.398
Total expenditures
Excess of revenues over
(under) expenditures ( 8,530,609)
OTHER FINANCING SOURCES (USES)
Capital leases
Operating transfers in
Operating transfers out
Excess of revenues over
(under) expenditures and
other fmancing sources
(uses) $( 1.233.481)
Fund balances, beginning of year, as
previously stated
Prior period adjustments
Fund balances, beginning of year,
restated
Residual equity transfers
Fund balances, end of year
See notes to financial statements.
44,361,232
(37.064,104)
Variance
Favorable
Actual (Unfavorable)
Actual
Budget
8,979,316 1,869,977 3,014,752 2,231,429
552,045 121,456 5,006,969 6,528,850
5,016,781 415,702 1,044,661 759,021
7,576,259 286,720 337,446 231,353
31,487,212 3,711,651 15,861,228 15,404,626
6,463,472 332,085 6,825,344 6,213,223
4,051,476 19,579
7,038,742 181,354 550,785 467,329
1,614,877 6,367 4,553,412 3,129,570
3,925,796 763,531
308,197 308,197) 64.502 53,659
77.014.173 7.400.225 37.259.099 35.019,060
(2,302,056) 6,228,553 ( 3,847,739) 2,121,556
2,165,759 82,394
13,645,301 (30,715,931) 9,865,263 9,609,846
(9,259.900) 27.804.204 (14,664.698) (14,662,012)
2,083.345 $ 3.316,826
$( 6.481.415) ( 2.848.216)
24,404,274
219.505
11,390,148
574.136
24,623,779
11,964,284
$26,707.124
$ 9.116,068
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$( 584,077)
( 291,347)
198,369
49,024)
3,314,711
994,575
146,049
3.729.256
783,323
( 1,521,881)
285,640
106,093
456,602
612,121
83,456
1,423,842
10.843
2,240,039
5,969,295
( 2,083,365)
( 255,417)
2.686
$ 3.633.199
AUGUSTA-RICHMOND COUNTY, GEORGIA I
Combined Statement of Revenues, Expenses and Changes in Retained EarningslFund Balances - I
All Proprietary Fund Types and Similar Trust Funds
Year Ended December 31,1998 I
Totals I
Proprietary Fund Types Fiduciary Fund Tvpes (Memorandum Onlv)
Internal Nonexpendable Pension
Enterprise Service Trust Trust 1998 1997
OPERATING REVENUES I
Charges and fees $42,997,358 $11,314,302 $ $ $ 54,311.660 $ 54,081,540
Contributions 2,344,833 2,344.833 1,887,588
Interest ~ 9.645.538 9.645.713 13.206.665
Total operating revenues 42.997.358 11.314.302 ~ 11.990.3 71 66.302.206 69.175.793 I
OPERA TING EXPENSES
Personal services 10,838,842 215,889 11,054.731 10,255,609
Utilities and telephone 2,758,232 89,596 2,847,828 2,763,704
Maintenance and repairs 3,212,825 101,529 3,314,354 3,063,551 I
Materials and supplies 6,719,597 16,989 6,736,586 3,981,889
Professional services 1,898,433 3,540,533 5,438,966 5,740,744
Rentals 118,258 118,258 110,396 I
Other 1,494,795 123,181 1.617,976 3.526,290
Depreciation 7,598,161 40,795 7,638,956 7,307,025
Closure/postclosure accrual 839,629 839,629 850,374
Risk benefit charges 11,444,308 11,444,308 12,199,202 I
Administration 936,001 936,001 729,163
Benefit payments 5,167,250 5,167,250 4.785,513
Refunds - 136.691
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Total operating expenses 35.478.772 15.572.820 - 6.103.251 57.154.843 55.450.151 I
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Operating income (loss) 7.518.586 (4.258.518) ~ 5.887.120 9.147.363 13.725.642
NONOPERATING REVENUES (EXPENSES)
Interest revenue 797,800 6,380 804,180 342.096
Other revenue 4,984,172 236.447 5,220,619 2,477,775 I
Interest expense ( 4,363,659) ( 51,882) ( 4,415,541) ( 4,379,088)
Intergovernmental revenue 5,598.081 - 5.598.081 9.818.007
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Total nonoperating revenues I
(expenses) 7.016.394 190.945 - 7.207.339 8.258.790
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Income (loss) before operating
transfers 14,534,980 (4,067,573 ) 175 5,887,120 16,354,702 21,984,432
Operating transfers in 5,347,586 4,364,639 774,040 10.486,265 10,433,082 I
Operating transfers out (7.941.177) ( 7.779) - ( 91.257) ( 8,040,213) ( 9.900.630)
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Net income (loss) 11.941.389 289,287 ~ 6.569,903 18.800,754 22.516.884
Retained earnings/fund balances, beginning of I
year, as previously stated 76,199,898 436,003 343,800 88,339,433 165.319,134 135,243,577
Prior period adjustment - 7.558.673
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Retained earnings/fund balances, beginning of
year, as restated 76,199.898 436.003 343.800 88.339.433 165.319,134 142,802,250
Retained earnings/fund balances, end of year $ 88,141.287 $ 725,290 $343,975 $94.909,336 $184,119,888 $165.319.134 I
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See notes to financial statements. I
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Combined Statement of Cash Flows -
All Proprietary Fund Types and Nonexpendable Trust Funds
Year Ended December 31,1998
Proprietary Fund Types
Internal
Enterprise Service
Fiduciary
Fund Type
Nonexpendable
Trust
Totals
(Memorandum Only)
1998 1997
Cash flows from operating activities
Operating income (loss) $ 7,518,586 $( 4,258,518) $ 175 $ 3,260,243 $ 4,317,879
Adjustments to reconcile operating income (loss) to net
cash provided (used) by operating activities
Depreciation and amortization 8,177,786 40,795 8,218,581 7,307,025
Net change in assets and liabilities:
Accounts receivable 149,087 430) 148,657 328,544
Intergovernmental receivable 475,333 475,333 537,044)
Other receivable 22,842 22,842 2,337)
Prepaid expenses 4,935 4,935 228,361
Inventory 219,294) 75,464) 294,758) 102,282)
Due from other funds 367,459 367,459 1,843,234
Other assets
Accounts payable 189,953) 362,055 172,102 478,476)
Accrued salaries and vacation ( 350,577) 6,740) ( 357,317) 100,934
Due to other funds ( 2,012,090) 11,862 ( 2,000,228) ( 4,409,976)
Customer deposits 4,867 4,867 6,600
Closurelpostclosure accrual 839,629 - 839,629 850.374
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Net cash provided (used) by operating activities 14,788.610 (3,926,440) ---..ill 10,862.345 9.452,836
Cash flows from noncapital financing activities
Other revenue 4,984,172 236,447 5,220,619 2,477.775
Intergovernmental revenue 5,598,081 5,598,081 9,818,007
Operating transfers (net) ( 2,593,591) 4.356,860 - 1,763,269 130.3 78)
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Net cash provided (used) by noncapital
financing activities 7,988.662 4,593,307 - 12.581.969 12.165.404
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Cash flows from capital and related financing activities
Acquisition and construction of capital assets (18,301,949) 183,828) (18,485,777) (11,150.656)
Principal paid on revenue bonds ( 1,145,000) ( 1,145,000) ( 1,080,000)
Principal paid on capital leases ( 834) ( 834) ( 250,898)
Principal paid on notes payable ( 781,556) ( 781,556) ( 318.964)
Proceeds from revenue bonds 5,779,147
Bond issuance costs ( 114.449)
Payments to refund debt escrow ( 6,760,198)
Proceeds from certificates of participation 1,705,000 1,705,000
Interest paid ( 4,572,349) 51,882) ( 4,624,231) ( 3,200,796)
Contributed capital 47,640 - 47,640 1.209,576
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Net cash provided (used) by capital and related
activities (23,049,048) 235.710) - (23.284.758) (15,887,238)
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Cash flows from investing activities
Interest received 797,800 6,380 804,180 342,096
Purchase of investment 63.362) - 63.362) 73,104)
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Net cash provided (used) by investing activities 734.438 6,380 - 740.818 268,992
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Net increase (decrease) in cash and cash equivalents 462,662 437,537 175 900,374 5,999,994
Cash and cash equivalents, beginning of year 60.465,630 I :664, 166 343,800 62.4 73,596 56.4 73,602
Cash and cash equivalents, end of year $ 60,928,292 $ 2.10 1.703 $343.975 $ 63,373,970 $ 62.473,596
See notes to fmancial statements.
12
Assets
Cash and short-term investments
Investments, at fair value
U.S. Government obligations
Domestic corporate bonds
Domestic stocks
International stocks
Mortgages
Real estate
. Total investments
Due from other funds
Total assets
Liabilities
Accounts payable
Due to other funds
Total liabilities
AUGUSTA-RICHMOND COUNTY, GEORGIA
Pension Trust Funds
Statements of Plan Net Assets
December 31,1998
1945 Plan
$ 1,151,334
1,845,622
3,731,068
5,954,947
343,457
208,372
12,083.466
600,000
13,834.800
58,258
58,258
Net assets held in trust for pension benefits
(A schedule of funding progress for each plan is
presented on pages 43 - 44)
See notes to financial statements.
$13,776,542
$9,975.027
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$7Ll57.767
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$94.909,336
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See notes to financial statements.
AUGUSTA-RICHMOND COUNTY, GEORGIA
Pension Trust Funds
Statements of Changes in Plan Net Assets
For the Year Ended December 31,1998
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Notes to Financial Statements
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements
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December 31, 1998
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Note 1 - Summary of significant accounting policies
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Augusta-Richmond County ("the County") accounts for its financial position and results of operations in accordance with
generally accepted accounting principles (GAAP) applicable to governmental units. The County's reporting entity applies all
relevant Government Accounting Standards Board (GASB) pronouncements. Proprietary funds apply Financial Accounting
Standards Board (F ASB) 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 County uses several funds and account groups, which are described below.
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A. Fund types and account groups
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A fund or account group is an accounting entity with a self-balancing set of accounts .established to record the financial
position and results of operations ofa specific governmental activity. The County maintains the following fund types and
account groups:
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Governmental fund types, that include the General Fund, Special Revenue Funds, Debt Service Funds, and Capital
Projects Funds, are used to record the general operations of the County. Governmental funds are accounted for using
the current fmancial measurement focus. Only current assets and current liabilities are generally included on their
balance sheets. Their operating statements present sources and uses of available resources during a given period.
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Proprietary fund types, that are used.to account for activities conducted on a fee for service basis in a manner similar
to commercial enterprises, provide services to the County (Internal Service Funds) and the public (Enterprise Funds).
Proprietary funds use the economic resources measurement focus. The accounting objectives are determination of
net income, financial position, and cash flows. All assets and liabilities associated with a proprietary fund's activities
are included on its balance sheet. Proprietary fund equity is segregated into contributed capital and retained earnings.
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Fiduciary fund types (trust and agency funds), that are used to account for assets held by the County as an agent for
private individuals or organizations or in trust. Expendable trust funds account for financial activity in essentially the
same manner as governmental funds. Pension Trust Funds use the economic measurement focus in essentially the
same manner as proprietary funds. Agency funds are custodial in nature and do not involve measurement of results
of operations.
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GeneralflXed assets and general long-term debt account groups, that are used to account for property and equipment
and long-term obligations of governmental funds.
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The general-purpose financial statements include total columns that aggregate the fmancial statements of the various fund
types and account groups. The columns are designated "memorandum only" because the totals are not comparable to a
consolidation in that interfund transactions are not eliminated. Comparative information presented for 1997 presentation
contains certain reclassifications to conform to the 1998 presentation.
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B. Reporting entity
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Augusta-Richmond County is located in the northeast section of the state on the south bank of the Savannah River, which
serves as the boundary between Georgia and South Carolina. The County is on the fall line and has a landscape dotted
with foothills which descend to the coastal plain. The County 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. The County is the trade center for 13 counties in Georgia and five in South Carolina, a section known as the
Central Savannah River Area.
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The County 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
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Notes to Financial Statements - Continued
December 31, 1998
Note 1 - Summary of significant accounting policies (Continued)
City of Augusta voted to consolidate into one government named Augusta-Richmond County, 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 fmancial operations January 1, 1996.
Augusta-Richmond County 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 County.
For fmancial reporting purposes, the County includes all funds, account groups, agencies, board, commissions, and
authorities that are controlled by or financially dependent upon the County. Control or financial dependence is determined
on the basis ofthe County's obligation for finance of deficits, guarantee of debts, selection of governing authority, approval
of budget, authority to make a public levy, ownership of assets, scope of public service and special financing relationships
where there is only partial or no oversight responsibility.
Utilizing the above criteria, the following agencies and commissions were included using the blending method in the
financial statements: Augusta Port Authority, Augusta Canal Authority, Downtown Development Authority, Richmond
County Public Facilities, Inc. (see Note 4E), Augusta Public Transit, and the Aviation commissions of Bush and Daniel
Fields.
Complete financial statements for the individual component units may be obtained at the following address:
Augusta-Richmond County, Georgia
Finance Department
50 I Greene Street
Augusta, Georgia 3090 I
The following organization was excluded from the reporting entity because the County's accountability does not extend
beyond appointing a voting majority of the organization's board members. Financial statements are available from the
organization.
Augusta-Richmond County Coliseum Authority - an authority created to maintain a multiple-use coliseum.
C. Basis of accounting
Governmental fund types, agency funds and the expendable trust fund use a modified accrual basis of accounting.
Revenues are recognized when available and measurable. Revenues that are accrued include federal and state grants and
subventions, property taxes, transient occupancy taxes, sales taxes collected by the State on behalf of the County prior to
year-end, interest, and certain charges for current services. Revenues that are not considered susceptible to accrual include
certain licenses, permits, fmes, forfeitures, penalties, and other taxes. Expenditures, other than interest on long-term debt,
are recorded when the liability is incurred.
Proprietary fund types and the nonexpendable trust fund and pension trust funds are accounted for on the accrual basis.
The accrual basis of accounting recognizes revenues when earned. Expenses are recorded when incurred.
D. Fixed assets and long-term liabilities
The accounting and reporting treatment applied to the fixed assets and long-term liabilities associated with a fund are
determined by its measurement focus. Fixed assets used in a governmental fund type operation (general fixed assets) are
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AUGUST A-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements - Continued
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December 31, 1998
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Note 1 - Summary of significant accounting policies (Continued)
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accounted for in the General Fixed Asset Account Group, rather than in the governmental funds. Public domain
("infrastructure") general fIxed assets consisting of certain improvements other than buildings, including roads, bridges,
curbs and gutters, streets and sidewalks, drainage systems, and lighting systems, are not capitalized.
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All fIxed assets are valued at historical cost or estimated historical cost if actuaJ historical cost is not available. Donated
fIxed assets are valued at their estimated fair value on the date donated. Long-tenn liabilities expected to be fmanced from
governmental funds are accounted for in the General Long-tenn Debt Account Group, not in the governmental funds.
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The two account groups are not "funds". They only measure the fInancial position not the measurement of results of
operations.
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Noncurrent portions oflong-tenn receivables due to governmental funds are reported on their balance sheets, in spite of
their spending measurement focus. Special reporting treatments are used to indicate, however, that they should not be
considered "available spendable resources," because they do not represent net current assets. Recognition of governmental
fund type revenues represented by noncurrent receivables is deferred until they become current receivables. Noncurrent
portions of long-tenn loans receivable are offset by fund balance reserve accounts.
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Special reporting treatments also are applied to governmental fund inventories to indicate that they do not represent
"available spendable resources," even though they are a component of net current assets. Such amounts generally are
offset by fund balance reserve accounts.
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Because of their spending measurement focus, expenditure recognition for governmental fund types is limited to exclude
amounts represented by noncurrent liabilities. Because they do not affect net current assets, such long-tenn amounts are
not recognized as governmental fund type expenditures or fund liabilities. They instead are reported as liabilities in the
General Long-tenn Debt Account Group.
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All proprietary funds and Nonexpendable Trust and Pension Trust Funds are accounted for on a cost of services or "capital
maintenance" measurement focus. Depreciation of all exhaustible fIxed assets used by proprietary funds is charged as an
expense against their operations. Accumulated depreciation has been provided over the estimated useful lives using the
straight-line method. The estimated useful lives are as follows:
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Buildings
Vehicles
Machinery and equipment
Furniture and fIxtures
Water and sewerage systems
LandfIll Cell II C
7 - 40 years
1 - 15 years
1 - 20 years
1 - 15 years
10 - 40 years
10 years
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Major outlays for capital assets and improvements are capitalized in proprietary funds as projects are constructed. Interest
incurred during the construction phase of proprietary fund fixed assets is reflected in the capitalized value of the asset
constructed, net of interest earned on the invested proceeds over the same period. During 1998, no interest costs were
capitalized because interest expenditures related to constructed assets did not exceed related interest revenue.
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E. Budgets and budgetary accounting
The County generally follows these procedures in establishing the budgetary data reflected in the fInancial statements:
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1. Budgetary hearings are held in October to discuss departmental budgets.
2. The Finance Committee presents the tentative budget to the County Commissioners in November.
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Notes to Financial Statements - Continued
December 31, 1998
Note 1 - Summary of significant accounting policies (Continued)
3. The permanent budget is legally adopted by the County 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 County Administrator.
The Board of Commissioners 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 County Comm ission' 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 generally accepted accounting principles (GAAP).
Budget information for expenditures represent the operating budget (as amended) as approved by the Augusta-Richmond
County Board of Commissioners.
F. 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.
G. Cash and cash equivalents
The County 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 financial statement presentation. Interest income is allocated to
each fund monthly based on its average monthly balance.
For the purposes of financial statement presentation, the County considers all highly liquid investments with an original
maturity of three months or less, or with insignificant early withdrawal penalties, to be cash equivalents. Exceptions
include the County'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 County 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.
H. Investments
Investments are reported at cost, except for the investments in the County's pension plans and deferred compensation plan
which are reported at fair value. For these investments, 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
cost.
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements - Continued
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December 31,1998
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Note 1 - Summary of significant accounting policies (Continued)
I. Inventories and prepaid expenses
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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".
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Interfund transactions
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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.
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Quasi-external transactions are accounted for as revenues, expenditures or expenses. Transactions that constitute
reimbursement to a fund for expenditures/expenses initially made on behalf of another fund are recorded as
expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is being
reimbursed.
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All other interfund transactions, except for quasi-external transactions and reimbursements, are reported as transfers.
Nonrecurring or non-routine permanent transfers of equity are reported as residual equity transfers. All other interfund
transfers are reported as operating transfers.
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K. Bond discounts and issuance costs
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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.
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L. Restricted assets
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Certain assets of the Capital Projects Fund and Enterprise Fund are classified as restricted assets on the balance sheet
because their use is limited by applicable debt covenants.
M. Compensated absences
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County employees are entitled to certain compensated absences based upon their length of employment. No liability is
reported for unpaid accumulated sick leave since it is the County's policy to record the cost of sick leave only when it is
used. Vacation pay and comp time are accrued when incurred in proprietary funds and reported as a fund liability.
Vacation pay and comp time that are expected to be liquidated with expendable available financial resources is reported
as an expenditure and a fund liability of the governmental fund that will pay it. Amounts not expected to be liquidated with
expendable available fmancial resources are reported in the General Long-term Debt Account Group and no expenditure
is reported for these amounts.
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N. Comparative data
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Comparative total data for the prior year has been presented in the accompanying fmancial statements in order to provide
an understanding of changes in the County's financial position and operations. However, comparative (i.e., presentations
of prior year totals by fund type) data has not been presented in each of the statements because their inclusion would make
the statements undl!ly complex and difficult to read.
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AUGUST A-RICHMOND COUNTY, GEORGIA
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December 31,1998
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Notes to Financial Statements - Continued
Note 1 - Summary of significant accounting policies (Continued)
O. Memorandum only - total columns
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Total columns on the general-purpose financial statements are captioned "memorandum only" to indicate that they are
presented only to facilitate financial analysis. Data in these columns does not present [mancial position, results of
operations or cash flows in confonnity with generally accepted accounting principles. Neither is such data comparable
to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
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Note 2 - Stewardship, compliance and accountability
A. Excess of expenditures over appropriations Expenditures
Budget Actual (Excess )
General $46,441,694 $43,457,938 $ 2,983,756
Canal Authority 494,259 150,190 344,069
Law Enforcement Fund 36,724,073 32,613,321 4,110,752
State Grants 9,919 9,919
Port Authority 344,684 267,111 77 ,573
Local Law Enforcement Block Grants 399.769 525.613 ( 125.844)
Total General Funds $84,4 14.398 $77,014,173 $ 7,400,225
Urban Services District $ 7,346,733 $ 5,574,078 $ 1,772,655
Emergency Telephone System 1,784,973 1,516,648 268,325
Capital Outlay 7,779,491 4,977,471 2,802,020
Law Enforcement 210,669 183,871 26,798
Fire Protection 13,797,293 13,283,957 513,336
Special Assessment 1,146,560 1,149,419 2,859)
Promotion/Tourism 3,367,000 3,607,469 ( 240,469)
Housing and Neighborhood Development 2,934,506 (2,934,506)
Urban Development Action Grant 1,474 3,759 ( 2,285)
Downtown Development Authority 1,824,906 1,787,728 37,178
State Capital Grants 154 ( 154)
Total Special Revenue Funds $37,259,099 $35.019,060 $ 2.240,039
Debt Service $ 921,580 $ 1,052,055 $( 130,475)
Urban Debt Service 489.780 435.553 54.227
Total Debt Service Funds $ 1,411,360 $ 1.487,608 $( 76,248)
Special Sales Tax $ 3,054,711 $ 781,982 $ 2,272,729
Special Sales Tax Phase 11 22,477,010 3,811,767 18,665,243
Special Sales Tax Phase III 63 .340.289 16.129,446 47.210.843
Total Capital Projects Funds $88,872.010 $20,723,195 $68.148,815
Waste Management $ 6,114,484 $ 4,008,300 $ 2,106,184
Water and Sewerage 21,595,552 21,441,593 153,959
Bush Field Airport 6,728,633 6,400,497 328,136
Municipal Golf Course 388,667 372,929 15,738
Transit 5,172,168 2,880,584 2,291,584
Daniel Field Airport 79,594 72,889 6,705
Old Government House 81,303 76,373 4,930
Newman Tennis Center 233,177 225,607 7.570
Total Enterprise Funds $40.393.578 $35,478,772 $ 4,914.806
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Notes to Financial Statements - Continued
December 31,1998
Note 2 - Stewardship, compliance and accountability (Concluded)
Expenditures
Budget Actual (Excess)
Risk Management $11,654,367 $11,900,832 $(246,465)
Fleet Operations 3.450.227 3.671.988 (221. 761)
Total Internal Service Funds $15.104,594 $15.572.820 $(468.226)
1945 Pension Fund $ 1,954,359 $ 1,036,553 $ 917,806
1977 Pension Fund 1,187,723 691,602 496,121
General Retirement 3,523,200 4,375,096 (851,896)
Expendable Trust Fund - Joseph Lamar 175 175
Expendable Trust Fund - Perpetual Care 35.200 17.288 17 .912
Total Trust & Ag~ncy Funds $ 6.700,657 $ 6.120.714 . $ 579.943
B. Fund Balance or Retained Earnings (deficit)
Following is a detail of fund balance/retained earnings (deficit) by fund. Agency funds, which serve only a custodial
function, do not have fund balances and are, therefore, not included.
Fund Balance/Equitv
General
General
Canal Authority
Law Enforcement
State Grants
Port Authority
Local Law Enforcement Block Grants
Total General Funds
$25,385,723
1, I 96,256
638,506
( 365,276)
165,920
( 314.005)
$26.707.124
Special Revenue
Urban Services District
Emergency Telephone System
Capital Outlay
Law Enforcement
Fire Protection
Occupational Tax
Special Assessment
Promotion/Tourism
Housing and Neighborhood Development
Urban Development Action Grant
Downtown Development Authority
State Capital Grants
Total Special Revenue Funds
$( 604,468)
( 676,399)
2,533,949
169,947
1,195,394
( 111,635)
70,296
4,175
1,058,557
4,964,615
510,972
665
$ 9.116,068
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AUGUST A-RICHMOND COUNTY, GEORGIA
...
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Notes to Financial Statements - Continued
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December 31,1998
Note 2 - Stewardship, compliance and accountability (Concluded)
Fund BalancelEquitv
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Debt Service
Debt Service
Urban Debt Service
Total Debt Service Funds
$ 2,986,300
199.986
$ 3.186,286
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Capital Projects
Community Development
Special Sales Tax
Special Sales Tax Phase II
Special Sales Tax Phase III
Total Capital Projects Funds
$ 244,833
5,305,628
19,476,049
40,089.199
$ 65.115,709
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Enterprise
Waste Management
Water and Sewerage
Bush Field Airport
Municipal Golf Course
Transit
Daniel Field Airport
Old Government House
Newman Tennis Center
Total Enterprise Funds
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$ 690,767
74,108,497
18,739,906
243,479
( 5,723,558)
( 68,674)
158,334
( 7,464)
$ 88,141.287
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Internal Service
Risk management
Fleet Operations
Central Services
Total Internal Service Funds
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$ 777,385
( 52,088)
( 7)
$ 725.290
Trust
1945 Pension Fund
1977 Pension Fund
General Retirement
Expendable Trust Fund - Joseph Lamar
Expendable Trust Fund - Perpetual Care
Non-expendable Trust Fund - Joseph Lamar
Non-expendable Trust Fund - Perpetual Care
Total Trust Funds
$ 13,776,542
9,975,027
71,157,767
( 350)
554,459
5,350
338,625
$ 95,807,420
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The County plans to fund the deficits through contributed capital and the general operations of the County.
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Note 3 - Detailed notes on all funds and account groups
A. Deposits and investments
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At December 31, 1998, the County's cash and cash equivalents balance on the combined 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 County's name.
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements - Continued
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December 31, 1998
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Note 3 - Detailed notes on all funds and account groups (Continued)
The carrying amount of the County's deposits with financial institutions was $32,926,539 and the bank balance was
$35,418,471. The bank balance was categorized as follows:
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Amount insured by the FDIC
Amount collateralized with securities held by pledging institutions
in the County's name
Amount uncollateralized
$ 700,000
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34,202,033
516,438
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Total bank balance of deposits
$35,418,471
Proper collateral of securities held by the County or by its agent in the County's name was pledged within ten days after
year-end, as in accordance with applicable statutes.
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Investments made by the County, including repurchase agreements consisting of U.S. Treasury notes, are summarized
below. The investments that are represented by specific identifiable investment securities are classified as to credit risk
by the three categories described below:
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----L- ~
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Repurchase agreements
U.S. Government securities
Corporate bonds and equity securities
$ 88,054,955 $
22,754,673
71.157.517
181,967,145
- $
Carrying Market
Amount Value
$ 88,054,955 $ 88,054,955
22,754,673 22,754,673
71.157.517 71.157 .517
52,980,561 52,980,561
6,372,437 6,372,437
32.926.539 32.926.539
$274.246.682 $274.246.682
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Local government investment pool
Deferred compensation investments
Carrying amount of deposits with financial institutions
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The balances shown on the combined balance sheet are as follows:
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Cash and temporary investments
Investments
Restricted assets:
Certificates of participation investments:
Acquisition/construction account
Reserve account
Revenue bond cash and cash equivalents:
Construction account
Current debt service account
Issuance costs account
Sinking fund account
Customer deposits
Deferred compensation investments
$126,840,551
89,125,168
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86,301
1,219,371
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46,140,609
2,326,961
151,690
1,931,427
52,167
6,372,437
$274.246.682
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AUGUST A-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements - Continued
December 31, 1998
Note 3 - Detailed notes on all funds and account groups (Continued)
The County's investments are shown by type, carrying amount, market value and level ofrisk assumed in the holding of
the various securities.
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 County or
its agent in the County'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 County'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 County's name.-
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 1
August 15
September 15 - November 15
November 15
Receivables at December 31, 1998, including the applicable allowances for uncollectible accounts, consist ofthe following:
Special Debt Capital Internal Trust and
General Revenue Service Proiects Enterprise Service Agency Total
Receivables:
Taxes $1,542,075 $1,303,157 $162,072 $ $ $ $10,3 70,525 $13,377,829
Accounts 2,162,081 201,023 1,254 4,266,734 1,726 6,632,818
Loans 3,921,999 3,921,999
Interest 53,003 140,836 5,304 199,143
Note 600,000 600,000
Intergovernmental 2.180,152 1,080.796 - 2,360,308 409.685 - 6,030.941
- -
Gross receivables 6,484,308 6,559,978 163,326 2,360,308 4,817,255 1,726 10,3 75,829 30,762,730
Less: allowance for
uncollectibles ( 574.8(1) ( 321,163) i1.lMD ( 625.507) - (1,535,322)
-
Net total receivables $5.909.497 $6,238,815 $149.485 $2,360,308 $4,191,748 $1,726 $10.375,829 $29 ,22 7 .408
In addition to the above loans receivable, a bank maintains records for certain notes receivable that are not recorded in
the accounts of the County. 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, Repayments of these loans are recorded as other revenue in the Housing
and Neighborhood Development Fund.
In a prior year, the fonner 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 County 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 fmancial statements.
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AUGUST A-RICHMOND COUNTY, GEORGIA
Notes to Financial Statements - Continued
December 31,1998
C. Fixed assets
Note 3 - Detailed notes on all funds and account groups (Continued)
Activity in the General Fixed Assets Account Group for the year ended December 31, 1998, was as follows:
Land
Buildings
Tax levy acquisitions
Vehicles
Machinery and equipment
Furniture and fixtures
Other capital
Construction in progress
Richmond County Public
Facilities, Inc.
Balance
January L 1998
$ 13,514,624
46,646,176
30,984
19,382,003
7,153,723
6,725,631
8,294,884
28,870,412
12.655,483
$143.273.920
Additions Deletions
$ 665,418.$
781,651
. 3,624,332
503,761
3,363,590
1,163,272
10,593,748
$20,695,772 $
Fixed assets for proprietary funds as of December 31, 1998, were as follows:
Land
Buildings
Vehicles
Machinery and equipment
Furniture and fixtures
Water and sewerage systems
Contributed water and sewerage systems
Other capital
Construction in progress
Landfill Cell II C
Total
Less accumulated depreciation
D. Landfill closure and postclosure costs
Net property, plant and equipment
Enterprise
$ 7,880,153 $
52,735,229
10,948,824
5,773,957
658,063
147,142,802
10,563,423
15,400,829
24,017,337
3.719.149
278,839,766
(97.494.166)
Balance
December 31. 1998
$ 14,180,042
47,427,827
30,984
23,006,335
7,657,484
10,089,221
9,458,156
39,464,160
12,655,483
$163,969,692
Internal
Service
107,751
185,967
79,727
12,962
386,407
(185.935)
$181.345.600 $ 200,472
State and Federal laws and regulations require the County 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.ofthese 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$5,637,158 as of December
3 I, 1998, which is based on 51 % usage (filled) of Cell II C which is operating currently, and 100% usage (filled) of Cells
II A and II B. It is estimated that an additional $4,377 ,179 will be recognized as closure and postclosure care expenses
between the date of the balance sheet and the date the landfill is expected to be filled to capacity, which is in the next 3 to
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements - Continued
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December 31, 1998
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Note 3 - Detailed notes on all funds and account groups (Continued)
5 years. The estimated total current cost of the landfill closure and postclosure care ($10,014,337) 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, 1998. 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.
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The County 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 County.
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E. Long-term debt
1. General long-term debt
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Changes in general long-term liabilities
During the year ended December 31, 1998, the following changes occurred in liabilities reported in the General Long-term I
Debt account group (in thousands):
Accrued Unfunded
General Certificates Vacation/ Pension
Obligation of Notes Revenue Comp Capital Benefit
Bonds Participation Pavable Bonds Time Leases Obligation Total
Balance, 12-31-97 $5,990 $ 5,875 $ 2,756 $ 8,511 $ 2.276 $ 4.605 $ 4,955 $ 34.968
Additions 3,930 190 454 4,574
Retirements ( 945) (1.745) ( 507) Lill) 0.714) (I. 778) LHQ) lliUll)
Balance. 12-31-98 $5.045 $ 4.130 $ 2.249 $7.769 $ 2.492 $ 3.017 $ 4.669 $ 29,371
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General Obligation Bonds
$8,000,000 1981 Public Building Bonds - due in annual installments of $550,000 to $990,000,
plus interest at 6.5% to 9.6%, through January 2002.
$3,370,000
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$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.
1.675.000
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Total
$5.045.000
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Certificates of Participation
$33,650,000 Certificates of Participation (Series 1993) issued by Richmond County Public
Facilities, Inc. (see Note 4E) - due in annual installments of$I,325,000 to $1,430,000, plus
interest at 4.0% to 4.2% through October 2001.
$4.130.000
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In a prior year, a portion ofthe 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 General Long-term Debt account group. As of December 31, 1998, the amount of
defeased debt outstanding but removed from the General Long-term Debt account group is $480,000.
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements - Continued
. December 31,1998
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Note 3 - Detailed notes on all funds and account groups (Continued)
Notes payable
Downtown Development Authority:
$3,900,000 line of credit with bank - due in monthly installments of$38,937, plus
interest at 8.53%, through November 2000.
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Housing and Neighborhood Development:
Section 108 loan - due in annual installments of$45,000 to $1,010,000, plus interest at
35 basis points above UBOR adjusted on the first day of each month, through
August 2005.
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Total
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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.
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$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.
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$3,500,000 1993 Downtown Development Authority Bonds - due in monthly principal
and interest installments of $41 ,075 through April 2002.
Augusta Port Authority:
$1,200,000 1993 Augusta Port Authority Bonds - due in monthly principal and interest
installments of$9,773 through May 2008.
Total
2. Enterprise Funds' debt
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Revenue bonds
Water and Sewer:
$66,640,000 1996 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$2,253,903).
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$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 $489,554).
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Bush Field Airport:
$1,200,000 1972 Augusta Airport Improvement Bonds - due in annual installments of
$70,000 to $85,000, plus interest at 5.9% through April 2002.
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$ 893,555
1.355.000
$ 2.248.555
$ 2,275,000
3,125,000
1,511,439
857.370
$ 7,768,809
$64;790,000
5,670,000
325.000
$70.785.000
AUGUSTA-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements - Continued
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December 31,1998
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Note 3 - Detailed notes on all funds and account groups (Continued)
Notes payable
Water and Sewer Fund:
State revolving loan - due in quarterly principal and interest installments of $94,668,
plus interest at 4%, through May 2016.
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$ 4,749,347
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State revolving loan - due in quarterly principal and interest installments of $305,904,
plus interest at 5.5%, through June 2011.
10,828,727
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State revolving loan - principal and interest at 4% due in quarterly installments beginning
90 days after completion of project. $1,781,686 remaining loan available at
December 31, 1997.
4,288.863
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Total
$19.866:937
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Certificates of Participation
Municipal Golf Course Fund:
$1,705,000 Certificates of Participation (Series 1998) Augusta Golf Course Project - due
in semi-annual installments of $37,700 to $80,800, plus interest of 5.18% (to be adjusted
to not more than 15% on December 31,2003) through June 2013.
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$ 1.705.000
During 1996, the County 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 fonner City of Augusta's Series 1972 and
1991 Water and Sewer revenue bonds and the fonner 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.
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In 1997, the County 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 fonner 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.
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As of December 31, 1998, the amount ofthese defeased debts outstanding but removed from the Water and Sewer Fund
is $16,628,508.
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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.
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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.
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements - Continued
December 31,1998
Note 3 - Detailed notes on all funds and account groups (Continued)
In a prior year, the fonner Richmond County Water and Sewer 1984 revenue bond issue was defeased by the creation
of an irrevocable trust fund. New debt was issued and the proceeds were used to purchase U.S. Government securities
that were placed in a trust fund. The investments and fixed earnings from the investments are sufficient to fully service
the defeased debt until it is called or matures. For financial reporting purposes, the debt is considered defeased and,
therefore, not included as a liability in the Water and Sewer Fund. As of December 31, 1998, the amount of this
defeased debt outstanding but removed from the Water and Sewer .Fund is $110,453.
3. Debt service requirements to maturity
The annual requirements to amortize debt outstanding as of December 31, 1998, including interest are as follows:
General Certificates
Obligation of Notes - Revenue
Bonds Participation Pavable Bonds Total
1999 $1,356,100 $ 1,660,163 $ 2,615,351 $ 6,153,735 $ 11,785,349
2000 1,368,625 1,657,163 2,535,485 6,120,008 11,681,281
2001 1,383,550 1,655,788 2,091,511 6,111,659 11,242,508
2002 1,415,475 165,728 2,091,492 5,688,273 9,360,968
2003 366,625 165,728 2,090,972 5,472,675 8,096,000
Thereafter I .574.424 19.191.563 122.204.705 142.970.692
5,890,375 6,878,994 30,616,374 151,751,055 195,136,798
Less interest ( 845.375) (1.043.994) (8.500.882) (73.197.246) (83.587.497)
$5.045.000 $ 5.835.000 $22.115.492 $ 78.553.809 $] ] 1.549.30]
F. Leases
The County has entered into severa] long-tenn 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 defined by 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 Loca]
Governments").
Future minimum lease payments under the leases and the net present value of the minimum lease payments as of
December 3], ] 998 are as follows:
General
Long-tenn
Obligations
1999
2000
2001
2002
2003
Total minimum lease payments
Less: amount representing interest
$2,242,876
375,096
332,432
284,076
87.867
3,322,347
( 304.889)
Present value of lease payments
$3.0]7.458
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements - Continued
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December 31,1998
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Note 3 - Detailed notes on all funds and account groups (Continued)
The County is lessor oftenninal space, land and buildings at Bush Field and Daniel Field under various operating leases.
Revenues and related expenses for Bush Field are recorded in the Bush Field Airport 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.
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Future minimum lease rentals to the County at December 31, 1998 are as follows:
Bush Field Daniel Field
1999 $ 198,176 $ 83,500
2000 204,369 83,500
2001 210,872 83,500
2002 217,000 83,500
2003 217,000 83,500
Thereafter 957.186 362.000
Total $2,004.603 $ 779,500
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During 1998, rental income totaled approximately $2.7 million and $81,600 in the Bush Field and Daniel Field Airport
Funds, respectively.
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The assets acquired through capital leases as of December 31, 1998 are as follows:
General Enterprise
Fixed Assets Funds
Vehicles $5,879,716 $ 459,841
Machinery and equipment 2.731,641 696.873
8,611,357 1,156,714
Less: accumulated depreciation ( 389.977)
Carrying value $8.611.357 $ 766.737
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements - Continued
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. December 31,1998
Note 3 - Detailed notes on aU funds and account groups (Continued)
G. Due to/from other funds
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General Funds:
General Fund
Law Enforcement
State Grants
Local Law Enforcement
Special Revenue Funds:
Urban Services District
Emergency Telephone
Capital Outlay
Fire Protection .
Occupational Tax
Housing and Neighborhood Development
Urban Development Action Grant (UDAG)
Downtown Development Authority.
Debt Service Fund:
Debt Service
Capital Projects Funds:
Community Development
Special Sales Tax Phase II
Special Sales Tax Phase III
Enterprise Funds:
Water and Sewer
Bush Field Airport
Municipal Golf Course
Transit
Daniel Field
Newman Tennis Center
Internal Service Funds:
Risk Management
Central Services
Trust and Agency Funds:
1945 Plan
Tax Commissioner
Probate
Civil Court
Clerk of Court
Joseph R. Lamar Expendable Trust
General Retirement
Interfund
Receivable Payable
$12,911,748 $ 3,658
239,308 408,782
230,413 595,581
238,460
352,506 3,232,387
776,287
27,544
16,617
114,955
224,566
5,689
47,866
7,915
230,413
10,000 354,450
4,049,690
1,114,306
1,761,012 802,663
34,238 610,985
18,551 380,602
174,298
2,599
13,743
15,191
600,000 58,258
625,205
14,437
143,459
1,612,801
350
453,903
$16,257.718 $16.257,718
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements - Continued
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December 31,1998
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Note 3 - Detailed notes on all funds and account groups (Continued)
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H. Contributed capital
During 1998, contributed capital in proprietary funds changed as follows:
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Bush Daniel Old
Waste Water Field Field Government
Enterprise Funds Management and Sewer Airport Transit Airport House Totals
Contributed capital,
January 1, 1998 $1,741,644 $41,896,587 $10,980,252 $8,933,627 $314,900 $28,199 $63,895,209
Capital contributions:
Subdividers!
developers 47,640 - - 47.640
- -
Contributed capital,
December 31, 1998 $1 ,741,644 $41.896.587 $10.980.252 $8.981.267 $314.900 $28.199 $63.942.849
Note 4 - Other information
A. Risk management
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The County 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 County is self-insured. The Risk Management Fund (an internal service
fund) is utilized by the County to account for and finance its self-insured risks of loss. Future claims can be paid from
designated funds established in 1987 from previously unrestricted-unreserved funds. Balances as of December 3 I,
1998, include the following:
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General Fund
Fire Protection Fund
Risk Management Fund
$4,705,061
250,000
777,385
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Total reserve
$5,732.446
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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.
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During 1998, changes in the balance of claim liabilities are as follows:
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Unpaid claims, December 31, 1997
Incurred claims (including IBNRs)
Claim payments
$ 125,640
2,435,830
(2.283.805)
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Unpaid claims, December 31, 1998
$ 277.665
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Notes to Financial Statements - Continued
. December 31,1998
Note 4 - Other information (Continued)
B. Segment information for Enterprise funds
Augusta-Richmond County maintains seven enterprise funds. Segment information for the year ended December 31,
1998, is presented below:
Waste
Management
Bush
Field
Airport
Daniel
Field
Airport
Municipal
Golf Course
Transit
Old Newman
Government Tennis
House Center
Water
and Sewer
Operating revenues $5,134,359 $ 29,376,306 $ 7,083,550 $ 368,008 $ 729,604 $ 81,630 $ 50,975 $172,926
Depreciation and
amortization 912,385 5,830,368 927,439 3,451 488,874 7,988 7,28[
Operating income (loss) [,126,059 7,934,713 683,053 ( 4,921) (2,150,980) 8,741 (25,398) (52,681)
Operating transfers (net) ( 360,642) (3,700,000) ( 80,134) ( 23,[24) 1,515,503 ( 6,028) 30,206 30,628
Net income (loss) 889,458 9,689,990 [,745,501 [9,[99 ( 4 [6,286) [ 5,034- 4,808 ( 6,315)
Contributed capital
contributions 47,640
Net working capital [,486,458 4,379,794 5,077,330 ( 623,04[) 239,211) [49,59[ . 13,531 ( 7,464)
Property, plant and
equipment additions 530.001 13,788,314 3,098,089 732,310 120,008 24,736 8,491
Total assets 8,341,335 207,427,163 3[,122,076 2,610,579 3,777,614 429,800 192,680 7,447
Bonds payable and other
long-tenn liabilities 5.637,158 85,478,864 250,000 1,705,000
Total retained earnings
( deficit) 690,767 74, I 08,497 18,739,906 243,479 (5,723,558) (68,674) 158,334 ( 7,464)
Total equity 2,432,411 116,005,084 29,720,158 243,479 3,257,709 246.226 186,533 ( 7,464)
C. Contingent liabilities
Litigation
The County is party to various legal proceedings which normally occur in governmental operations. The County
follows the practice of recording liabilities resulting from claims and legal actions only when they become probable
and measurable. The County 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
Augusta-Richmond County participates in a number of Federal and state assisted grant programs, which are subject
to program compliance audits under the Single Audit Act of 1984. An audit of these programs has been performed
for the year ended December 31, 1998, in compliance with the Single Audit Act of 1984 and OMB Circular A-133.
However, the audit is pending [mal acceptance by the various grantor agencies. The amount, if any, of expenditures,
which may be disallowed by the granting agencies, is expected to be immaterial.
D. Contracts and commitments
Augusta-Richmond County Coliseum Authority .
The County has committed to provide funds to service the Augusta-Richmond County Coliseum Authority's debt to
the extent it exceeds the Hotel-Motel Excise Tax and Beer Tax.
Development Authority of Richmond County
The County has contracted with the Development Authority for services related to the "Forward Together" program
of the Metro Augusta Chamber of Commerce. The contract provides for funding by the County of $500,000 to be
disbursed in increments of $1 00,000 per year over a five-year period. The contract expires in 2000.
36
AUGUST A-RICHMOND COUNTY, GEORGIA
I
Notes to Financial Statements - Continued
I
December 31,1998
I
Note 4 - Other information (Continued)
Collection of solid waste, yard waste, and bulk waste
The County has various contracts related to the privatization of its sanitation operations. The terms of the contracts
are summarized as follows:
I
I
1999
$197.299
E. Richmond County Public Facilities, Inc.
I
The Richmond County Public Facilities, Inc. is a nonprofit organization, tax exempt under Internal Revenue Code
Section 501(c)(3). The purpose of this nonprofit organization is to construct and maintain buildings and equipment
to be leased by Augusta-Richmond County, 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-
Richmond County, Georgia, due to the degree of control the County has over the Board of Directors of Richmond
County Public Facilities, Inc.
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Richmond County Public Facilities, Inc. issued Certificates of Participation to provide funds for the County to refund
the 1990 Certificates of Participation issue and for certain capital projects. The related assets are included in the
financial statements of the County in the General Fixed Asset account group and the Quasi Capital Projects Fund (a
capital projects fund). The liability is included in the General Long-term Debt account group.
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 Augusta-Richmond County.
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Note 5 - Pension plans
I
A. Plan descriptions, contribution information and funding policies
The County has seven single-employer pension plans and one agent multiple-employer pension plan currently in
existence. These plans are defined benefit plans. The following is a summary of funding policies, contribution
methods, and benefit provisions for each plan.
I
Single-employer pension plans
1945 Plan
The 1945 Plan was available to all former Richmond County employees hired prior to October I, 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 County ordinance. The Plan also provides for reduced benefits
ifthe 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 County is required to contribute the remaining amounts
necessary to fund the Plan. If a participant terminates employment prior to completion often 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 I, 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).
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37
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AUGUST A-RICHMOND COUNTY" GEORGIA
I
Notes to Financial Statements - Continued
I
December 31,1998
Note 5 - Pension plans (Continued)
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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 I % 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
County 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 County 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 PJan).
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The funding policy 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.
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1
General Pension Plan. Policemen's Pension Plan. Firemen's Pension Plan and the City Employee's Pension Plan
These Plans covered former City of Augusta employees. Policemen and fuemen 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 Employee's 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).
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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 offull-time years of employment. The Plan
provides death and disability benefits. These benefit provisions and all other requirements including amendments are
established by County ordinance. All full-time employees hired before July 1, 1980, must contribute 8% of gross
earnings to the Plan, with the County contributing remaining amounts sufficient to provide future pensions. This is
a closed retirement plan (new employees may not participate in the Plan).
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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 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.
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Agent multiple-employer pension plan
Georgia Municipal Employees Benefit System (GMEBS)
Employees hired after March 1, 1987 and who are 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
38
I
AUGUSTA-RICHMOND COUNTY, GEORGIA
I
Notes to Financial Statements - Continued
I
December 31,1998
I
Note 5 - Pension plans (Continued)
amendments are established by County 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 final 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 County
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 County 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 financial statements and required
supplementary information. That report may be obtained by writing to Georgia Municipal Employees Benefit System,
20 I Pryor Street, SW, Atlanta, Georgia 30303.
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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 County'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 those used
to determine the standardized measure of the pension obligation.
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Retirees and beneficiaries
receiving benefits
Terminated plan members
entitled to but not yet
receiving benefits
Active
Plan
members
I
Membership of the plans are as follows:
I
1945 Plan
1977 Plan
General Pension Plan
Policemen's Pension Plan
Firemen's Pension Plan
City Employees' Pension Plan
General Retirement Plan
GMEBS
43
52
5
3
12
20
167
-1l
I
2
4
948
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1
-1
171
383
I
Total
373
7
1.506
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The cost of administering the plans are fmanced 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.
I
B. Summary of significant account policies
I
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 County 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 I H.
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AUGUST A-RICHMOND COUNTY, GEORGIA
,
Notes to Financial Statements - Continued
. December 31, 1998
Note 5 - Pension plans (Continued)
Net appreciation (depreciation) in fair value of the plan's assets for the year includes realized gains and losses on
investment activity of approximately $764,000. The measurement of realized gains and losses is independent of the
measurement of the net appreciation (depreciation) in the fair value of plan net assets. Investments purchased in a
previous year and sold in the current year resulted in their realized gains and losses being reported in the current year
and their net appreciation (depreciation) in plan assets being reported in both the current year and the previous years.
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 County's annual pension cost is determined using the calculation methodology defined in GASB Statement No.
27. The annual pension cost equals the County'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. Three year trend information
fiscal Year
Beginning
Annual Actual County
Pension Cost Contribution
Percentage of Net Pension
APC Contributed Obligation
1945 Plan 01/01/1998 $ $ 100% $
1977 Plan 01/01/1998 897,930 897,930 100%
General Pension Plan 01/01/1998 107,338 107,338 100%
Policemen's Pension Plan 01/01/1998 63,169 63, I 69 100%
firemen's Pension Plan 01/01/1998 237,914 237,914 100%
City Employees' Pension
Plan 01/01/1998 331,619 331,619 100%
General Retirement Plan
(City 1949) 01/01/1998 100%
GMEBS 01/01/1998 208,746 208,746 100%
Note 6 - Deferred compensation plan
The County offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section I
457. The plan, available to all County employees, permits them to defer a portion of their salary until future years. The
deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency.
All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income I
attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) ;
solely the property and rights of the County (without being restricted to the provisions of benefits under the plan), subject
only to the claims of the County's general creditors. Participants' rights under the plan are equal to those of general
creditors of the County in an amount equal to the fair market value of the deferred account for each participant.
It is the opinion of the County's legal counsel that the County has no liability for losses under the plan but does have the
duty of care that would be required of an ordinary prudent investor. The County believes that it is unlikely that it will use
the assets to satisfy the claims of general creditors in the future.
40
AUGUSTA-RICHMOND COUNTY, GEORGIA
I
Notes to Financial Statements - Concluded
I
December 31, 1998
I
Note 7 - Prior period adjustments
General Fund
In the fmancial statements for the year ended December 31, 1997, an error was made in accounting for grant revenue in the
Local Law Enforcement Fund, resulting in an understatement of excess of revenues over expenditures of $219,505. The
error has been corrected and has had the following effect on the beginning fund balance:
I
I
Beginning fund balance/(deficit), as previously reported
Adjustment of deferred revenues
$( 206,437)
219.505
I
Beginning fund balance, as restated
$
13,068
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Special Revenue Fund
In the fmancial statements for the year ended December 31, 1997, an error was made in accounting for alcohol license fees
revenue in the Urban Services District Fund, resulting in an understatement of excess of revenues over expenditures of
$574,136. The error has been corrected and has had the following effect on the beginning fund balance:
I
Beginning fund balance/(deficit), as previously reported
Adjustment of deferred revenues
$( I ,06 I ,430)
574,136
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Beginning fund balance/(deficit), as restated
$( 487.294)
Capital Proiects Fund
In the financial statements for the year ended December 31, 1997, an error was made in accounting for sales tax revenue
in the Special Sales Tax Phase III Fund, resulting in an understatement of excess of revenues over expenditures of
$2,417,817. The error has been corrected and has had the following effect on the beginning fund balance:
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Beginning fund balance, as previously reported
Adjustment of accounts receivable
$24,183,647
2,417,817
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Beginning fund balance, as restated
$26.601.464
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Pension Plan Required Supplementary Information
42
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AUGUST A-RICHMOND COUNTY, GEORGIA
Defined Benefit Pension Trusts - Required Supplementary Information
December 31,1998
A. Schedules of funding progress
1945 Plan
Actuarial (Funded) (F AAL)
Accrued Unfunded UAAL as
Actuarial Actuarial Liability AAL a % of
Valuation Value of AAL (F AAL) Funded Covered Covered
Date Assets Entry Age UAAL Ratio Payroll Payroll
01/01/88 $ 7,597,755 $7,158,289 $( 439,466) 106% $ 601,644 ( 73)%
01/01/91 9,055,522 8,084,072 ( 971,450) 112 670,286 ( 145)
01/01/93 10,044,942 8,595,027 (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)
01/01/96 11,537,840 9,566,390 (1,97 I ,450) 121 629,034 ( 313)
01/01/98 13,934,975 9,431,701 (4,503,274) 148 160,888 (2,799)
1977 Plan
01/01/88 $ 1,731,201 $1,035,494 $( 695,707) 167% $ 2,467,668 ( 28)%
o 1/0 1/91 3,018,24 I 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)
01/0 1/94 4,262,572 2,813,432 (1,449,140) 152 5,180,438 ( 28)
01/01/95 4,439,451 3,333,577 (1,105,874) 133 6,797,338 ( 16)
01/0 1/96 5,446,380 4,332,024 (1,114,356) 126 8,952,224 ( 12)
01/0 1/97 6,285,732 5,510,585 ( 775,147) 114 11,509,974 ( 7)
General Pension Plan
12/3 1/92 $ $ 771,812 $ 771,812 $
12/31/93 629,859 629,859
12/31/94 619,418 619,418
12131/95 587,797 587,797
12/3 1/96 564,008 564,008
12/31/97 637,605 637,605
12131/98 533,575 533,575
Policemen's Pension Plan
12/31/92 $ $ 827,659 $ 827,659 $
12/31/93 528,904 528,904
12/31/94 437,814 437,814
12/31/95 422,070 422,070
12/31/96 417,725 417,725
12/3 1/97 391,153 391,153
12/31/98 389,072 389,072
I AUGUSTA-RICHMOND COUNTY, GEORGIA
I Defined Benefit Pension Trusts - Required Supplementary Information - Continued
I December 31,1998
A. Schedules of funding progress (Continued)
I
Firemen's Pension Plan
Actuarial (Funded) (FAAL)
I Accrued Unfunded UAAL as
Actuarial Actuarial Liability AAL a%of
Valuation Value of AAL (F AAL) Funded Covered Covered
I Date Assets Entry Age UAAL Ratio Payroll Payroll
12/3 1/92 $ $ 1,678,386 $ 1,678,386 -% $ - %
12/31/93 1,475,590 1,475,590
I 12/3 1/94 1,342,821 1,342,821
12/31/95 1,296,843 1,296,843
12/31/96 1,202,831 1,202,831
I 12/31/97 1,507,501 1,507,501
12/31/98 1,479,472 1,479,472
City Employees' Pension Plan
I 12/3 1/92 $ $ 3,149,994 $ 3,149,994 - % $ -%
12/31/93 2,960,183 2,960,183
I 12/31/94 2,704,129 2,704,129
12/31/95 2,598,066 2,598,066
12/3 1/96 2,584,786 2,584,786
I 12/31/97 2,418,723 2,418,723
12/31/98 2,266,704 2,266,704
General Retirement Plan
I o 1/0 1/92 $44,538,174 $32,563,498 $(11,974,676) 137% $ 7,604,624 (158)%
01/01/93 47,314,256 38,551,529 ( 8,762,727) 123 7,397,577 ( 119)
I 01/01/94 49,875,350 36,456,408 (13,418,942) 137 7,243,580 (185)
01/0 1/95 47,710,074 39,699,516 ( 8,010,558) 120 7,053,091 (114)
o I/O 1/96 56,004,033 41,587,715 (14,416,318) 135 6,345,073 (227)
01/01/97 59,413,476 42,712,240 (16,701,236) 139 5,165,]72 (323)
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GMEBS
I 03/01/93 $ 2,107,098 $ 2,345,50] $ 238,403 90% $ 8,864,510 3.0%
03/01/94 2,754,918 2,903,208 148,290 95 10,375,830 1.0
03/01/95 3,351,907 3,315,936 ( 35,971) 10] 10,657,439 ( .3)
I 03/01/96 3,731,1]8 3,568,982 ( 162,]36) 105 9,369,684 ( 2.0)
03/01/97 4,144,704 5,312,277 1,]67,573 78 8,082,062 ]4.0
03/01/98 4,609,848 5,756,304 ],]46,456 80 8,9]3,934 13.0
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AUGUST A-RICHMOND COUNTY, GEORGIA I
Defined Benefit Pension Trusts - Required Supplementary Information - Continued I
December 31,1998 I
B. Schedules of employer contributions
I
1945 Plan
Annual
Fiscal Required Percentage I
Year Contribution Contributed
1988 $ -% I
1991
1993
1994
1995 I
1996
1998
1977 Plan I
1988 $ - %
1991
1993 I
1994
1995
1996 I
1998 897,930 100
General Pension Plan
1992 $142,169 100% I
1993 127,642 100
1994 111,109 100 I
1995 125,174 100
1996 125,874 100
1997 139,861 100 I
1998 107,338 100
Policemen's Pension Plan
1992 $129,638 100% I
1993 85,487 100
1994 80,866 100 I
1995 69,407 100
1996 69,407 100
1997 79,952 100
1998 63,169 100 I
Firemen's Pension Plan
1992 $236,873 100% I
1993 223,387 100
1994 212,392 100
1995 204,492 100 I
1996 200,757 100
1997 249,706 100
1998 237,914 100 I
45
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AUGUSTA-RICHMOND COUNTY, GEORGIA
"
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Defined Benefit Pension Trusts - Required Supplementary Information - Continued
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December 31,1998
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B. Schedules of employer contributions (Continued)
City Employees' Pension Plan
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Fiscal
Year
Annual
Required
Contribution
Percentage
Contributed
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1992
1993
1994
1995
1996
1997
1998
$466,306
442,423
415,480
408,999
369,477
409~881
331,619
100%
100 .
100
100
100
100
100
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General Retirement Plan
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1992
1993
1994
1995
1996
1997
1998
$
-%
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GMEBS
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1992
1993
1994
1995
1996
1997
1998
$206,321
216,604
232,298
106,440
187,548
197,167
214,536
100%
100
100
100
100
100
100
C. Notes to required supplementary information
1945 Plan
1977 Plan
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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
1/1/98
Attained age aggregate
Level percentage of payroll
A verage future working lifetime
Market value
1/1/97
Attained age aggregate
Level percentage of payroll
Average future working lifetime
Market value
1
8%
5%
5%
5%
8%
5%
5%
5%
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AUGUST A-RICHMOND COUNTY, GEORGIA
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Defined Benefit Pension Trusts - Required Supplementary Information - Continued
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December 31,1998
C. 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
Intlation
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
12/31/98
Actuarial present value of total
projected benefits
N/A
N/A
N/A
8%
N/A
N/A
N/A
Firemen's
Pension Plan
12/31/98
Actuarial present value of total
projected benefits
N/A
N/A
N/A
8%
N/A
N/A
N/A
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Policemen's
Pension Plan
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12/31/98
Actuarial present value of
total projected benefits
N/A
N/A
N/A
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8%
N/A
N/A
N/A
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City Employees'
Pension Plan
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12/31/98
Actuarial present value of
total projected benefits
N/A
N/A
N/A
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8%
N/A
N/A
N/A
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I.
AUGUSTA-RICHMOND COUNTY, GEORGIA
1
Defined Benefit Pension Trusts - Required Supplementary Information - Continued
I.
December 31,1998
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C. Notes to required supplementary information (Continued)
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Valuation date
Actuarial cost method
Amortization method
Amortization period
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Actuarial asset valuation method
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Actuarial assumptions:
Investment rate of return
Projected salary increases
Post retirement benefit increases
Inflation
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General Retirement
Pension Plan
1/1/97
Frozen entry age
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%
48
GMEBS
3/1/98
Projected unit credit
Level dollar
30 years open
Roll forward prior year's actuarial
value with contributions,
disbursements, and expected return
of investments, plus 10% of
investm.ent gains (losses) during IO
prior years.
8%
6%
None
None
49
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Year 2000 Readiness Required Supplemental Information
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AUGUST A-RICHMOND COUNTY, GEORGIA
Year 2000 Readiness Required Supplementary Information
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December 31,1998
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Many existing computer systems and applications, and mother control devices, use only two digits to identify a year in the
date field, without considering the impact of the upcoming changes in the century. As a result, such systems and
applications could fail or create erroneous results unless corrected so that they can process data related to the year 2000.
Augusta-Richmond County (the "County") relies on its systems, applications and devices in operating and monitoring all
major aspects of its business, including financial systems, customer services, infrastructure, embedded computer chips,
networks, and telecommunications equipment and end products. The County also relies, directly and indirectly, on external
systems of other companies and organizations such as suppliers, creditors, financial services organizations and governmental
entities for accurate exchange of data. The County's current estimate is that the costs associated with the year 2000 issue,
will not have a material adverse effect on the results of operations or financial position of the County in any given year.
However, despite the County's efforts to address the year 2000 impact on its internal systems, the County has not fully
identified such impact or whether it can resolve it without disruption of its business and without incurring significant
expense. In addition, even if the internal systems of the County are not .materially affected by the year 2000 issue, the
County could be affected through disruption in the operation of the enterprises with which the County interacts.
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The County has expended approximately $128,000 through December 3], 1998 and in addition expects to incur
approximately $679,000 through December 31, 1999 to achieve year 2000 compliance.
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The County has established a budget for year 2000 compliance and believes it has identified all mission-critical hardware
and software applications. The County is currently modifying or replacing systems to accomplish year 2000 compliance.
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Combining and Individual Fund
Financial Statements
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General Fund
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The General Fund is used to account for all of the County's financial resources except those resources that must be
accounted for in a special purpose fund. Current inflows are typically from revenue sources such as property taxes,
fines, and penalties. Current outflows are generally related to theprovision of various governmental services such as
health and welfare, public safety, and general governmental administration.
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General Fund - This fund is the general operating fund of the County. It is used for all [mancial resources except those
required to be accounted for in another fund.
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Canal Authority Fund - This fund is a sub-fund of the General Fund. It is used to account for revenues, other financing
sources, and expenditures of the Augusta Canal Authority.
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Law Enforcement Fund - This fund is a sub-fund of the General Fund. It accounts for property tax revenues from the
established mill rate for law enforcement, and other revenues, other financing sources, and expenditures related to law
enforcement.
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State Grants Fund - This fund is a sub-fund of the General Fund. It accounts for expenditures and receipts of general
state grants.
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Port Authority Fund - This fund is a sub-fund of the General Fund. It accounts for revenues, other financing sources,
and expenditures of the Augusta Port Authority.
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Local Law Enforcement Block Grants Fund - This fund is a sub-fund of the General Fund. It accounts for receipts and
expenditures of a two year grant to fund five deputies and one purchasing clerk.
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LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts and other payables $ 1,786,423 $ 22,063 $ 802,547 $ 108 $ 14,500 $ 31,085 $ 2,656,726 $ 2,599,972
Due to other funds 3,658 408,782 595,581 238,460 1,246,481 1,325,870
Accrued salaries and vacation 551,628 1,504 553,694 581 5,762 1,113,169 2,609,679
Other accrued liabilities 195,595 320,074 515,669 143,244
Deferred revenues 1,293.672 538.830 - - 307.656 2.140,158 1.739.447
- -
Total liabilities 3,830.976 23,567 2.623,927 595.689 .J2,QB 582.963 7.672.203 8.418,212
FUND BALANCES (DEFICITS)
Reserved for special purposes 771,018 1,196,256 1,967,274 1,795,656
Reserved for inventory/prepaid
expenses 94,059 12,277 106,336 217,082
Unreserved - designated for risk
benefit 4,705,061 4,705,06 I 4,705,061
Unreserved - undesignated 19,815.585 638.506 (365.276) 153.643 (3 14.005) 19,928,453 17.686.475
Total fund balances
(deficits) 25,385,723 I, I 96,256 638.506 (365.276) 165.920 (3 14,005) 26.707.124 24.404.274
ASSETS
Cash and cash equivalents
Receivables (net of allowances
for uncollectibles)
Taxes
Accounts
Note
Intergovernmental
Prepaid expenses
Inventory
Due from other funds
Total assets
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AUGUST A-RICHMOND COUNTY, GEORGIA
General Fund
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Combining Balance Sheet
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December 31,1998
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General
Canal Law State
Authority Enforcement Grants
Local Law
Port Enforcement
Authority Block Grants
Totals
1998 1997
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$13,390,084 $1,154,259 $
- $
$ I 68,724 $ 268,958
$ I 4,982,025 $14,259,708
356,034 908,949 1,264,983 1,008,833
1,320,075 65,564 478,723 1,864,362 2,576,672
600,000 600,000 700,000
544,699 1,635,453 2,180, I 52 1,872,972
54,168 54,168 48,936
39,891 12,277 52,168 168,146
12.911.748 239.308 230,413 - 13,381.469 12,187.219
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$29,216,699 $1,219,823 $3,262.433 $ 230,413 $181.001 $ 268.958 $34,379,327 $32.822,486
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Total liabilities and fund
balances (deficits) $29.216.699 $1,219.823 $3.262,433 $ 230.413 $181.001 $268,958 $34,379.327 $32,822,486
See notes to financial statements.
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I AUGUST A-RICHMOND COUNTY, GEORGIA
General Fund
I Combining Statement of Revenues, Expenditures
and Changes in Fund Balances (Deficits)
I Year Ended December 31,1998
I Local Law
Canal Law State Port Enforcement Totals
General Authority Enforcement Grants Authority Block Grants 1998 1997
I REVENUES
Taxes $25,112,731 $ $29,426,563 $ - $ $ $54,539,294 $51,325,256
Licenses and permits 1,882,135 1,882,135 1,737,089
Use of money and property 1,383,098 65,933 15,207 1,464,238 1,383,982
I Charges for services 3,956,844 257,304 118 4,214,266 4,311,020
Fines and fees 5,945,335 1,195,515 79,860 7,220,710 . 7,228,185
Intergovernmental 1,387,070 183,333 1,570,403 1,458,561
Cost reimbursements 1,618,939 2,199,216 3,818,155 2,181,934
I Other 1,997 520 399 2,916 279,862
Total revenues 41,288,149 323.757 32.821.693 79.978 198,540 74,712.117 69.905.889
EXPENDITURES
I Administration 8,202,965 142,115 139,673 494,563 8,979,316 7,183,929
Economic, community and
environmental 552,045 552,045 640,761
I Finance and tax administration 5,016,781 5,016,781 4,961,106
Judicial 7,576,259 7,576,259 7,207,635
Public safety 2,753,114 28,734,098 31,487,212 26,916,661
Public works 6,463,472 6,463,472 6,914,503
I Health and welfare 4,051,476 4,051,476 5,833,040
Culture and recreation 7,038,742 7,038,742 7,541,909
Debt service 1,497,599 117,278 1,614,877 1,611,720
Capital outlay 8,075 3,879,223 7,448 31,050 3,925,796 434,380
I Other 305,485 2.712 308.197 110.556
Total expenditures 43.457,938 150.1 90 . 32.613.321 267.1 1 I 525.613 77.0 I 4,173 69,356.200
Excess of revenues
I over (under)
expenditures (2,169,789) 173,567 208,372 (187,133) (327,073) (2,302,056) 549,689
I OTHER FINANCING SOURCES (USES)
Operating transfers in 9,137,607 4,204,820 302,874 13,645,301 7,459,383
Operating transfers out (5,444.242) 1.949) (3,774,686) ( 39,023) (9.259,900) (4,239.287)
I Excess of revenues
over (under)
expenditures and
other financing 3,769,785
I sources (uses) 1,523,576 171,618 638,506 76,718 (327,073) 2,083,345
Fund balances (deficits), beginning
of year, as previously reported 23,862,147 1,024,638 (365,276) 89,202 (206,437) 24,404,274 20,634,489
I Prior period adjustments 219.505 219,505
Fund balances (deficits), beginning
of year, restated 23.862,147 1,024,638 (365.276) 89.202 13,068 24,623.779 20.634.489
I Fund balances (deficits),
end of year $25,385,723 $1, I 96,256 $ 638,506 $(365.276) $ 165,920 $(314.005) $26.707.124 $24.404.274
I See notes to financial statements.
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Total revenues
Variance
Favorable ]997
Budget Actual (Unfavorable ) Actual
$ 54,665,273 $25,112,73] $(29,552,542) $51,325,256
],770,000 ],882,135 1]2,]35 ] ,737,089
850,000 ],383,098 533,098 ] ,350,234
3,918,849 3,956,844 37,995 3,629,620
6,220,851 5,945,335 ( 275,516) 7,228,054
1,440,902 1,387,070 ( 53,832) 1,453,955
1,448,852 1,618,939 170,087 2,181,934
1,997 \,997 274,870
70,314.727 41,288,149 (29,026.578) 69,\8\,012
9,928,341 8,202,965 ],725,376 6,840,372
673,50 I 552,045 12],456 640,761
5,432,483 5,016,781 4]5,702 4,96],106
7,862,979 7,576,259 286,720 7,207,635
2,958,7]7 2,753,] 14 205,603 26,916,661
6,795,557 6,463,472 332,085 6,914,503
4,07] ,055 4,05],476 19,579 5,833,040
7,220,096 7,038,742 181,354 7,541,909
] ,498,965 1,497,599 ],366 1,494,442
305,485 ( 305,485) 1] 0.556
46,441,694 43 .457 .938 2,983,756 68,460,985
23,873,033 (2,] 69,789) (26,042,822) 720,027
9,189,251 9,137,607 ( 51,644) 7,198,684
(34,254.176) (5,444.242) 28,809,934 (4.228,\24)
$( 1.19 \,892) 1,523,576 $ 2,715,468 3,690,587
23,862,]47 20.17] .560
$25.385,723 $23,862.147
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AUGUSTA-RICHMOND COUNTY, GEORGIA
General Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31, ]997)
REVENUES
Taxes
Licenses and permits
Use of money and property
Charges for services
Fines and fees
Intergovernmental
Cost reimbursements
Other
EXPENDITURES
Administration
Economic, community and environmental
Finance and tax administration
Judicial
Public safety
Public works
Health and welfare
Culture and recreation
Debt service
Other
Total expenditures
Excess of revenues over (under) expenditures
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
Excess of revenues over expenditures and
other financing sources (uses)
Fund balances, beginning of year
Fund balances, end of year
See notes to [mancial statements.
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AUGUST A-RICHMOND COUNTY, GEORGIA
Canal Authority Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31, 1998
(With Comparative Totals for the Year Ended December 31,1997)
See notes to fmancial statements.
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Variance
Favorable 1997
Budget . Actual (Unfavorable ) Actual
$ $29,426,563 $ 29,426,563 $
989,655 1,195,5]5 205,860
2,451,058 2,199,216 ( 251,842)
1,169,980 399 ( 1,169,581)
4.610,693 32.821 ,693 28.211.000
32,240,146 28,734,098 3,506,048
4.483.927 3,879,223 604,704
36,724,073 32,613,32] 4.] 10.752
(32,] 13,380) 208,372 32,32],752
34,869, 107 4,204,820 (30,664,287)
( 2.765,707) (3,774,686) ( 1.008,979)
$( 9.980) 638,506 $ 648.486
AUGUSTA-RICHMOND COUNTY, GEORGIA
Law Enforcement Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31, 1998
(With Comparative Totals for the Year Ended December 31,1997)
REVENUES
Taxes
Fines and fees
Cost reimbursements
Other
Total revenues
EXPENDITURES
Public safety
Capital outlay
Total expenditures
Excess of revenues over expenditures
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
Excess of revenues over expenditures and
other financing sources (uses)
Fund balances, beginning of year
Fund balances, end of year
$ 638,506
See notes to financial statements.
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AUGUSTA-RICHMOND COUNTY, GEORGIA
State Grants Fund
Stateme~t of Revenues, Expenditures and
Changes in Fund Balance (Deficit) - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
REVENUES
Intergovernmental
Variance
Favorable 1997
Budget Actual (Unfavorable ) Actual
$ - $ $ - $ 4.606
- -
2,419 2,419
7.500 7,500 333,614
9,919 9,919 333,614
$(9,919) $9,919 (329,008)
(365.276) ( 36.268)
$(365.276) $(365.276)
EXPENDITURES
Administration
Capital outlay
Total expenditures
Excess of revenues under expenditures
Fund balance (deficits), beginning of year
Fund balance (deficits), end of year
See notes to financial statements.
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Port Authority Fund
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
Variance
Favorable 1997
Budget Actual (Unfavorable ) Actual
REVENUES
Charges for services $ 200 $ 118 $( 82) $ 78,624
Fines and fees 82,400 79,860 (2,540)
Other 1,000 ( 1.000) 3.498
Total revenues 83,600 79,978 (3,622) 82,122
EXPENDITURES
Administration ] 72,505 139,673 32,832 101,279
Debt services ] 22,279 117,278 5,001 117,278
Capital outlays 49,900 7,448 42,452 32,607
Other 2.712 {Ull)
Total expenditures 344,684 267,111 77 ,573 251.164
Excess of revenues under expenditures (261,084) (187,133) 73,951 (169,042)
OTHER FINANCING SOURCES (USES)
Operating transfers in 302,874 302,874 260,699
Operating transfers out ( 42,899) ( 39.023) 3,876 ( 10,864)
Excess of revenues over (under) expenditures
and other financing sources (uses) $( l.l 09) 76,718 $77.827 80,793
Fund balances, beginning of year 89,202 8.409
Fund balances, end of year $ 165,920 $ 89,202
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See notes to financial statements.
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Local Law Enforcement Block Grants Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance (Deficit) - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
REVENUES
Use of money and property
Fines and fees
Intergovernmenta]
Total revenues
Variance
Favorab]e 1997
Budget Actual (Unfavorable ) Actual
$ $ 15,207 $ 15,207 $ 12,191
]3]
399,769 183 ,333 (216,436)
399,769 198,540 (20 1,229) 12,322
301,769 494,563 ( 192,794) 155,105
98,000 31 ,050 66,950 64,400
399,769 525,613 (] 25.844) 219.505
$ (327,073) $(327,073) (207,] 83)
EXPENDITURES
Administration
Capital outlay
Total expenditures
Excess of revenues over (under) expenditures
Fund balance (deficit), beginning of year as previously
reported
(206,437)
746
Prior period adjustment
219.505
Fund balances, beginning of year, restated
13,068
746
Fund balances (deficit), end of year
$(314.005)
$(206,437)
See notes to financial statements.
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Special Revenue Funds
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Special Revenue Funds are used to account for the proceeds from specific revenue sources which are legally restricted
to expenditures for specified purposes..
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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" .
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Emergencv Telephone Svstem Fund - This fund accounts for the receipt and disbursement of revenues of the emergency
telephone response system.
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Capital Outlay Fund - This fund accounts for the disbursement of revenues for all capital expenditures in General Fund
departments. Capital expenditures are defined as any non-disposable item over $500 which includes vehicles, office
and computer equipment, communications equipment, building renovations and office furniture.
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Law Enforcement Fund - This fund accounts for revenue and expenditures of the Sheriffs Department and JaiL
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Fire Protection Fund - This fund accounts for the receipt and disbursement of tax revenues restricted for fire protection
services in the unincorporated area only.
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Occupational Tax Fund - This fund accounts for the receipt and disbursement of tax revenues restricted for fire
protection services in the unincorporated area only.
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Special Assessment Fund - This fund accounts for the receipt and disbursement of street light assessment taxes for the
installation of street lights in the County.
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Promotion/Tourism 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.
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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.
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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 I
financing to qualified applicants.
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Downtown Development Authority Fund - This fund accounts for funding it receives from the County and from special i
tax on downtown merchants,
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State Capital Grants Fund - This fund accounts for receipt and expenditure of the State Capital Grant, which is restricted
for capital expenditures only.
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Urban
Services
District
Emergency
Telephone
System
Capital
Outlay
Law Fire
Enforcement Protection
Occupational
Tax
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Special Revenue Funds
Combining Balance Sheet
December 31, 1998
ASSETS
Cash and cash equivalents $2,005,165 $ $2,188,953 $162,527 $8,702,443 $
Receivables (net, where applicable of
allowance for uncollectibles)
Taxes 599,337 193,823 94,]65
Accounts 33,553 149,111 4,364 8,463 3,320
Loans 48,885
Interest - 946
Intergovernmental 588,444 492,352
Prepaid expenses
Due frorn other funds 352.506 27.544 ]6,617
Total assets $3,628,836 $ 149,111 $2,907,036 $] 70,990 $8.813 ,225 $ 3.320
LIABILITIES AND FUND BALANCES
(DEFICITS)
LIABILITIES
Accounts and other payables $ 328,996 $ 26,815 $ 208,101 $ 1,043 $ 393,161 $
Accrued interest
Due to other funds 3,232,387 776,287 1]4,955
Accrued salaries and vacation 4,63 ] 22,408 2]2,346
Deferred revenue 667 ,290 164,986 7,012.324
Total liabilities 4.233.304 825,510 373,087 1,043 7.617,83] 114,955
FUND BALANCES (DEFICITS)
Unreserved:
Designated for risk benefit 250,000
Undesignated ( 604,468) (676.399) 2,533,949 169,947 945,394 (111.635)
Total fund balances
(deficits) ( 604,468) (676.399) 2.533,949 169,947 1.195,394 (111.635)
Total liabilities and fund
balances $3.628,836 $ 149.111 $2,907,036 $170,990 $8,813.225 $ 3.320
See notes to financial statements.
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Special Revenue Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances (Deficits)
REVENUES
Taxes
Licenses and permits
Use of money and property
Charges for services
Intergovernmental
Sale of property
Other
Total revenues
EXPENDITURES
Adm in istration
Economic, community and
environment
Finance and tax administration
Judicial
Public safety
Public works
Culture and recreation
Debt service
Other
Total expenditures
Excess of revenues over
(under) expenditures
OTHER FINANCING SOURCES
(USES)
Capital leases
Operating transfers in
Operating transfers out
Excess of revenues over
(under) expenditures and
other financing sources
(uses)
Fund balances (deficits), beginning
of year, as previously reported
Prior period adjustment
Fund balances (deficits), beginning
of year, as restated
Year Ended December 31,1998
1,766,364
620,584
759,021
231,353
1,516,648 420, ISO
4,844,659 219,]45
467,329
722,002 493,525
7,4] 7
5.574.078 1,516.648 4,977,471
7,490,268 234,765 (1,790,735)
24,382
(7,631.824)
350,000 2,918,826
(376,780) (4,230.644)
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]83,87] 13,283,957
] 83,871 ] 3.283,957
30,027 (4,898,533) 1,627,619
82,394
5,053,254
( 610,423) (1,739.254)
30,027 ( 373,308) ( ] 1 ],635)
139,920 1,568,702
139.920 1,568,702
Fund balances (deficits), end of year $( 604,468) $( 676,399)$ 2.533,949 $169,947 $ 1,195,394 $( 111.635)
( 117,174)
207,985 (3,102,553)
See notes to financial statements.
(1,061,430) (884,384) 5,636,502
574,136
487,294) (884,384) 5,636,502
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Excess of revenues over expenditures
and other financing uses
$( 497.1]1) ( 117,]74) $ 379.937
1,018,859
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Urban Services District Fund
Stateme"t of Revenues, Expenditures and
Changes in Fund Balance (Deficit) - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31, 1997)
Total expenditures
Excess of revenues over expenditures
Variance
Favorable 1997
Budget Actual (Unfavorable ) Actual
$13,348,000 $12,737,571 $( 6] 0,429) $12,621,624
160,000 21,490 ( 138,510) 135,030
110,000 23,704 ( 86,296)
155,000 281.581 ]26,581 512.503
13,773,000 13,064.346 ( 708,654) 13,269.1 57
5,065,305 4,844,659 220,646 4,424,298
2,231,459 722,002 1,509,457 880,839
49,969 7.417 42,552
7.346.733 5,574,078 I.772,655 5.305,137
6,426,267 7,490,268 ] ,064,00] 7,964,020
24,382 24,382
(6,947,760) (7 .631,824) (684,064) (6,945.16])
REVENUES
Taxes
Use of money and property
Charges for services
Other
Total revenues
EXPENDITURES
Public works
Debt services
Other
OTHER FINANCING USES
Operating transfers in
Operating transfers out
Fund balance (deficit), beginning of year
as previously reported
Prior period adjustment
Fund balance (deficit), beginning of year, as restated
(1,061,430)
574.1 36
487,294)
(2,080,289)
Fund balance (deficit), end of year
$( 604.468)
$(1,061,430)
See notes to financial statements.
69
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Emergency Telephone System Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance (Deficit) - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
REVENUES
Charges for services
EXPENDITURES
Public safety
Excess of revenues under expenditures
OTHER FINANCING SOURCES (USES)
Capital leases
Operating transfers in
Operating transfers out
Excess of revenues under expenditures
and other financing sources (uses)
Fund balance (deficit), beginning of year
Fund balance (deficit), end of year
See notes to [mancial statements.
Variance
Favorable
Budget Actual (Unfavorable )
$1,728,000 $1,751,413 $ 23,413
1.784.973 1 ,516.648 268.325
( 56,973) 234,765 291,738
350,000 350,000
( 367.322) ( 376,780) ( 9,458)
$( 74,295) 207,985 $282.280
( 884,384)
$( 676.399)
70
1997
Actual
$1,511,412
1,828,140
( 316,728)
209,698
( 42,580)
( ]49,610)
( 734,774)
$( 884,384)
Budget
Variance
Favorable
Actual (Unfavorable)
]997
Actual
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Capital Outlay Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
REVENUES
Taxes
Use of money and property
Charges for services
Intergovernmental
Other
Total revenues
$ 2,547,600 $ 2,623,480 $
6,261
I, I 00
492,352
60,000 63.543
2,607,600 3,186,736
75,880
6,26]
1,]00
492,352
3.543
579,136
$ 2,534,848
749
2.535,597
EXPENDITURES
Administration
Economic, community and environmental
Finance and tax administration
Judicial
Public safety
Public works
Culture and recreation
Debt services
Other
Total expenditures
Excess of revenues under expenditures
3,014,752 1,766,364 1,248,388 806,52 I
1,639,969 620,584 1,019,385 55,418
1,044,66 ] 759,021 285,640 217,189
337,446 23],353 106,093 163,483
68,293 420,150 351,857) 2,268,674
613,479 219,145 394,334 73,130
550,785 467,329 83,456 63,169
498,525 493,525 5,000 495,545
11.58 ] 11.58 ] 46.538
7,779,491 4.977.471 2.802,020 4.189,667
(5,171,891) (1,790,735) 3,38],]56 (1,654,070)
2,083,365 (2,083,365) 892,475
2,990,997 2,9] 8,826 ( 72,171) 384,160
( 4,866,893) (4,230,644) 636.249
$(4,964.422) (3,102,553)$ 1.86 1.869 377,435)
5,636.502 6.013,937
$ 2.533.949 $ 5,636,502
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OTHER FINANCING SOURCES (USES)
Capital leases
Operating transfers in
Operating transfers out
Excess of revenues over (under) expenditures
and other financing sources (uses)
Fund balance, beginning of year
Fund balance, end of year
See notes to financial statements.
7]
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AUGUST A-RICHMOND COUNTY, GEORGIA
Law Enforcement Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31~ 1997)
REVENUES
Use of money and property
Charges for services
Total revenues
Variance
Favorable 1997
Budget Actual (Unfavorable ) Actual
$ $ 13,686 $13,686 $ 9,025
200,658 200,212 L1ffi 204.261
200,658 213.898 13.240 213.286
EXPENDITURES
Public safety
Excess of revenues over expenditures
210,669
(]O,O] 1)
183.871
30,027
26.798
40,038
]45,774
67,5]2
OTHER FINANCING SOURCES (USES)
Operating transfers out
(50.221)
Excess of revenues over expenditures and other
financing sources (uses) $(10,0 II)
30,027
$40.038
]7,291
Fund balance, beginning of year
139,920
122.629
Fund balance, end of year
$]69,947
$]39,920
See notes to [mancial statements.
72
Excess of revenues under expenditures
Variance
Favorable 1997
Budget Actual (Unfavorable ) Actual
$ 7,999,298 $ 8,026,581 $ 27,283 $ 7,697,450
100,000 343,388 243,388 325,493
2,250 15,455 13,205 1,575
8,10 l,548 8,385,424 283,876 8,024,518
13.797,293 ]3,283,957 5]3,336 11,879,171
(5,695,745) (4,898,533) 797,212 (3,854,653)
82,394 82,394
5,236,500 5,053,254 (183,246) 4,607, ] 42
( 558,725) ( 6]0,423) ( 5] ,698) ( 804,913)
$( 935,576) 373,308) $ 562.268 52,424)
] .568,702 1.621,126
$ 1.195.394 $ l,568,702
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AUGUSTA-RICHMOND COUNTY, GEORGIA
,
Fire Protection Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
REVENUES
Taxes
Use of money and property
Charges for services
Total revenues
EXPENDITURES
Public safety
OTHER FINANCING SOURCES (USES)
Capital leases
Operating transfers in
Operating transfers out
Excess of revenues under expenditures and
other financing sources (uses)
Fund balance, beginning of year
Fund balance, end of year
See notes to financial statements.
73
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,
AUGUST A-RICHMOND COUNTY, GEORGIA
Occupational Tax Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance (Deficit) - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
REVENUES
Licenses and permits
Use of money and property
Total revenues
Variance
Favorable 1997
Budget Actual (Unfavorable ) Actual
$ 1,902,500 $ 1,6] ],153 $(29] ,347) $ 1,775,927
20.000 ] 6,466 ( 3,534) 22,307
] ,922,500 1.627.6] 9 (294.881 ) L798.234
( 1 ,922,500) (1,739,254) 183.246 (1.798.234)
$ ( 111,635) $(111.635)
OTHER FINANCING USES
Operating transfers out
Excess of revenues over financing uses
Fund balance (deficit), beginning of year
Fund balance (deficit), end of year
$( 111.635)
$
See notes to [mancial statements.
74
Excess of revenues under expenditures and
other financing uses $
1,146,560 \,\49,419 ( 2,859) \,\ 08.057
],498 ( 115,818) (117,316) ( 12,410)
( I .498) ( 1.498) ( 100.000)
( ] ] 7,3 16) $(1]7,316) ] 12,4]0)
187,6]2 300,022
$ 70,296 $ 187.612
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AUGUSTA-RICHMOND COUNTY, GEORGIA
,
Special Assessment Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
Variance
Favorable 1997
Budget Actual (Unfavorable) Actual
REVENUES
Taxes $U48,058 $1.033,601 $(114,457) $1.095.647
EXPENDITURES
Public works
Excess of revenues over (under) expenditures
OTHER FINANCING USES
Operating transfers out
Fund balance, beginning of year
Fund balance, end of year
See notes to financial statements.
75
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,
AUGUSTA-RICHMOND COUNTY, GEORGIA
PromotionlTourism Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31, 1998
(With Comparative Totals for the Year Ended December 31,1997)
Budget
Variance
Favorable
Actual (Unfavorable)
REVENUES
Taxes
$3,367,000 $3,61 \,644 $ 244,644
EXPENDITURES
Economic, community and environmental
3,367,000 3,607,469 (240,469)
Excess of revenues over expenditures
$ 4,175 $ 4,175
Fund balance, beginning of year
Fund balance, end of year
$ 4,]75
See notes to financial statements.
76
1997
Actual
$3,137,725
3,137,725
$
Budget
Variance
Favorable
Actual (Unfavorable)
1997
Actual
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AUGUST A-RICHMOND COUNTY, GEORGIA
,
Housing and Neighborhood Development Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
REVENUES
Intergovernmental
Sale of property
Other
$
$2,822,359 $ 2,822,359
$2,] 16,784
Total revenues
994,575
15,925
3,832,859
994,575
]5,925
3.832,859
248.835
2.365.6] 9
EXPENDITURES
Administration
Economic, community and environmental
Debt service
Total expenditures
Excess of revenues over (under) expenditures
and other financing sources (uses) $
465,065 ( 465,065) 306,369
2,300,797 (2,300,797) 1,970,461
168,644 ( 168.644) 172,204
2,934.506 (2,934,506) 2,449.034
898,353 898,353 ( 83,4] 5)
70,51 ]
( 71.589) ( 7U89) ( 8.101 )
826,764 $ 826.764 ( 2] ,005)
23 1,793 252.798
$1.058,557 $ 23 ],793
Excess of revenues over (under) expenditures
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
Fund balance, beginning of year
Fund balance, end of year
See notes to financial statements.
77
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'-
AUGUSTA-RICHMOND COUNTY, GEORGIA
Urban Development Action Grant Fund (UDAG)
Statemel)t of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
Variance
Favorable 1997
Budget Actual (Unfavorable ) Actual
REVENUES
Use of money and property $~ $ 73,035 $73.035 $ 159.342
EXPENDITURES
Other 1,474 3,759 (2.285) 43,847
Excess of revenues over expenditures (1,474) 69,276 70,750 115,495
OTHER FINANCING SOURCES
Operating transfers in ] .474 1.474 -
-
Excess of revenues over expenditures and
other financing sources $ - 70,750 $70.750 ] ] 5,495
Fund balance, beginning of year, as previously reported 4,893,865 10, ] 34,824
Prior period adjustment (5.356.454)
Fund balance, beginning of year, as restated 4.893.865 4,778.370
Fund balances, end of year $4,964.6] 5 $ 4,893,865
See notes to financial statements.
78
Year Ended December 31,1998
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AUGUST A-RICHMOND COUNTY, GEORGIA
,
Downtown Development Authority Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
(With Comparative Totals for the Year Ended December 31,1997)
Variance
Favorable 1997
Budget Actual (Unfavorable ) Actual
REVENUES
Taxes $ 556,996 $ 349,998 $(206,998) $ 180,587
Use of money and property 6,000 ]0,043 4.043 10,209
Total revenues 562,996 360,041 (202,955) ] 90.796
EXPENDITURES
Debt service 1,823,428 ] ,745,399 78,029 ] ,865,004
Other 1.478 42,329 ( 40,851)
Total expenditures I ,824,906 1.787.728 37,178 1.865.004
Excess of revenues under expenditures (1,261,910) (1,427,687) (165,777) (1,674,208)
OTHER FINANCING SOURCES
Operating transfers in 1.261.9]0 ] ,261.910 1.916,874
Excess of revenues over expenditures and
other financing sources $ 165,777) $(165.777) 242,666
Fund balance, beginning of year 676.749 434.083
Fund balance, end of year $ 5]0,972 $ 676,749
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79
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I
See notes to financial statements.
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AUGUST A-RICHMOND COUNTY, GEORGIA
,
State Capital Grants Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
EXPENDITURES
Use of money and property
Variance
Favorable
Budget Actual (Unfavorable )
$ $ ..J11 $U21)
$ (154) $( 154)
819
$ 665
Excess of revenues under expenditures
Fund balances, beginning of year
Fund balances, end of year
See notes to [mancial statements.
80
1997
Actual
$--=-
~
$ 819
81
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Debt Service Funds
I
The Debt Service Funds are used to account for resources that will be used to service general long-term debt that is
recorded in the General Long-Term Debt Account Group. In general, Debt Service Funds are established only if legally
required or when resources are being accumulated to meet principal and interest payments that will be made in future
periods.
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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 obligati?n bonds related to the former City of Augusta.
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82
64,483
1,254
834,800
Urban
Debt Totals
Service 1998 1997
$188,276 $1,022,175 $ 984,631
83,748 148,231 135,934
],254 855
834,800 779,600
86,301
1,219,371
7,915 1.378.276
$272,024 $3.320,047 $3.279.296
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AUGUSTA-RICHMOND COUNTY, GEORGIA
,
Debt Service Funds
Combining Balance Sheet
December 31, 1998
Debt
Service
ASSETS
Cash and cash equivalents
Receivables (net of allowances for uncollectibles)
Taxes
Accounts
Prepaid expenses
Certificates of participation investments
Acquisition/construction account
Reserve account
Due from other funds
$ 833,899
86,30 I
1,219,37]
7.915
Total assets
$3,048.023
LIABILITIES AND FUND EQUITY AND OTHER CREDITS
LIABILITIES
Deferred revenues $ 61.723 $ 72,038 $ ]33.761 $ 26.489
Total liabilities 61. 723 72,038 133,761 26.489
FUND EQUITY AND OTHER CREDITS
Reserved for debt service 2.986.300 ] 99,986 3.1 86,286 3,252.807
Total fund equity and other credits 2,986,300 199,986 3.] 86,286 3 .252.807
Total liabilities, fund equity, and other credits $3,048,023 $272,024 $3.320,047 $3,279.296
See notes to [mancial statements.
83
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AUGUSTA-RICHMOND COUNTY, GEORGIA
,
Debt Service Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Year Ended December 31,1998
Urban
Debt Debt Totals
Service Service 1998 1997
REVENUES
Taxes $ 806,431 $478,876 $1,285,307 $1,402,526
Use of money and property 122,897 6,523 129.420 52,628
Total revenues 929.328 485.399 1.414,727 1.455,154
EXPENDITURES
Debt service ] ,052,055 435,553 1.487,608 1,320,131
Excess of revenues over (under) expenditures ( 122,727) 49,846 ( 72,88]) 135,023
OTHER FINANCING SOURCES (USES)
Operating transfers in 3,180 3,180 6,360
Excess of revenues over (under) expenditures
and other financing sources (uses) ( 119,547) 53,026 ( 66,521) ] 35,023
Fund balances, beginning of year 3,105,847 146,960 3,252,807 1,739,508
Residual equity transfer 1,378,276
Fund balances, end of year $2,986.300 $199,986 $3.1 86.286 $3,252,807
See notes to financial statements.
84
AUGUSTA-RICHMOND COUNTY, GEORGIA
Debt Service Fund
Statement of Revenues, Expenditures and Changes in Fund Balance -
Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
Excess of revenues under expenditures and
other financing sources (uses) $(50,400) (] 19,547) $( 69.147)
Fund balances, beginning of year
3,105,847
Residual equity transfer
Fund balances, end of ye~r
$2,986.300
See notes to financial statements.
85
( 11,937)
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] ,739,508
1.378.276
$3.105.847
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AUGUSTA-RICHMOND COUNTY, GEORGIA
,
Urban Debt Service Fund
Statement of Revenues, Expenditures and Changes in Fund Balance -
Budget (GAAP Basis) and Actual
Year Ended December 31,1998
See notes to financial statements.
86
87
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Capital Projects Funds
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The acquisition or construction of capital projects, other than those financed by Enterprise Funds, Internal Service
Funds, or Trust Funds, may be accounted for in a Capital Projects Fund. Usually a Capital Projects Fund is used to
account for major capital expenditures such as the construction of civic centers, libraries, and general administrative
service buildings. The acquisition of other capital assets, such as machinery, furniture, and vehicles, is usually
accounted for in the fund that is responsible for the fmancing of the expenditure.
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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 ofHUD.
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Special Sales Tax Fund - This fund accounts for financing and construction of various road improvement projects.
Financing is provided by receipts from a 1987 special one percent local option sales tax referendum.
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Special Sales Tax Phase II Fund - This fund accounts for financing 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.
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Special Sales Tax Phase III Fund - This fund was established to account for expenditures specifically budgeted from.
revenues from the one cent sales tax (Phase III) collected from the years ] 996 - 2000 to be used primarily for public
works, recreation and outside agency projects.
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88
AUGUST A-RICHMOND COUNTY, GEORGIA
Capital Projects Funds
Combining Balance Sheet
December 31, 1998
ASSETS
Cash and cash equivalents
Receivables:
Intergovernmental
Other
Certificates of participation investments:
Acquisition/construction account
Reserve account
Due from other funds
Total assets
LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts and other payables
Due to other funds
Accrued salaries and vacation
Total liabilities
FUND BALANCES
Reserved for special sales tax projects
Unreserved - designated for capital improvements
Total fund balances
Tota11iabilities and fund balances
See notes to financial statements.
89
Community
Development
$475,246
$475.246
$
230,4] 3
230,4]3
244.833
244,833
$475.246
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Special Sales
Tax
I
$5,480,488
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I
$5,480,488
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I
$ 174,860
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174,860
5,305,628
5.305.628
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$5,480,488
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I Special Special
Sales Tax Sales Tax Tota]s
I Phase II Phase III 1998 1997
$20,004,448 $42,417,325 $68,377,507 $55,788,931
I 29,982 2,330,326 2,360,308 50,456
80,130
I 134,269
],163,877
10,000 10,000 10 000
I $20,044,430 $44,747,651 $70,747,815 $57,227,663
I
$ 213,93 ] $ 570,229 $ 959,020 $ 518,076
I 354,450 4,049,690 4,634,553 4,720,083
38,533 38,533 56,363
568,381 4,658.452 5,632,] 06 5,294,522
I 19,476,049 40,089,199 64,870,876 5] ,689,088
244,833 244,053
I ] 9.476,049 40,089,199 65,115,709 51.933,141
$20,044.430 $44,747,651 $70,747,815 $57,227,663
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I 90
AUGUSTA-RICHMOND COUNTY, GEORGIA
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Capital Projects Funds
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Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
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Year Ended December 31,1998
I
Excess of revenues over (under) expenditures
Community Special Sales
Development Tax
$ $
304,154
780 275,866
780 580,020
781,982
780 ( 20 I ,962)
3,7]3)
780 ( 205,675)
244,053 5,511,303
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REVENUES
Taxes
Use of money and property
Intergovernmental
Cost reimbursements
Other
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Total revenues
EXPENDITURES
Capital outlay
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OTHER FINANCING USES
Operating transfers out
Excess of revenues over (under) expenditures and other
financing sources (uses)
I
Fund balances, beginning of year, as previously reported
I
Prior period adjustment
Fund balances, beginning of year, as restated
244,053
5,5] ] ,303
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Residual equity transfer
Fund balances, end of year
$244.833
$5.305,628
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91
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See notes to fmancial statements.
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Special Special
I Sales Tax Sales Tax Totals
Phase II Phase ill 1998 1997
I $ $28,701,125 $28,701,125 $24,504,512
I,] 14,979 1,711,191 3,130,324 2,857,405
329,605
580,880 556,463 1,413,989 1,616,326
I 374 27,781 28,155 II 1.073
1.696.233 30,996.560 33,273.593 29,418,921
I
3,811.767 16,129,446 20,723,195 37,]56,105
I (2,] 15,534) ]4,867,114 12,550,398 (7,737,]84)
I ( 402,555) (1,379,379) (1,785,647) (1,016,973)
(2,518,089) 13,487,735 10,764,751 (8,754,]57)
I 2],994,138 24,183,647 51,933,14] 6],265,574
I 2,417,817. 2,417,8]7 800,000
21,994,]38 26,60 I ,464 54,350,958 62,065,574
I (1,378,276)
$19,476,049 $40,089,199 $65,115,709 $51.933.141
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I
I 92
Excess of revenues over (under) expenditures
- - 30,216
- -
- - 30.216
- -
$ - 780 $ 780 299,389
-
244.053 (55,336)
$244,833 $244.053
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I
AUGUSTA-RICHMOND COUNTY, GEORGIA
Community Development Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance (Deficit) - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
Total revenues
Variance
Favorable 1997
Budget Actual (Unfavorable) Actual
$ $ $ $329,605
- 780 ~
-
- 780 ~ 329,605
-
REVENUES
Intergovernmental
Other
EXPENDITURES
Other
Capital outlay
Total expenditures
Fund balance (deficit), beginning of year
Fund balance, end of year
See notes to financial statements.
93
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Special Sales Tax Fund
Stateme~t of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
Variance
Favorable 1997
Budget Actual (Unfavorable ) Actual
REVENUES
Use of money and property $ 150,000 $ 304,154 $ 154,154 $ 276,284
Cost reimbursements 464,193 275.866 ( ] 88,327) 262,019
Total revenues 614,193 580,020 ( 34,173) 538,303
EXPENDITURES
Capital outlay 3,054,711 78 1.982 2.272,729 122,300
Excess of revenues over (under) expenditures (2,440,518) ( 20] ,962) 2,238,556 416,003
OTHER FINANCING USES
Operating transfers out
( 703.963)
3,713)
700,250
48, ] 10)
Excess of revenues over (under) expenditures
and other financing uses $(3,144,481) (205,675) $2,938,806
367,893
Fund balance, beginning of year
5,5] L303
5,143,410
Fund balance, end of year
$5,305.628
$5,51 L303
See notes to fmancial statements.
94
Fund balance, beginning of year
21,994,138
36,598,0 ]4
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AUGUST A-RICHMOND COUNTY, GEORGIA
Special Sales Tax Phase II Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
Total revenues
Variance
Favorable 1997
Budget Actual (Unfavorable ) Actual
$ $ - $ $ 864
935,000 1,114,979 179,979 1,491,397
1,382,399 580,880 ( 80],5] 9) 1,354,307
81.452 374 ( 81,078) 23,000
2,398,85 ] ] ,696.233 ( 702,618) 2,869,568
22.477,010 3,81 L767 18,665.243 17.4 73.444
REVENUES
Taxes
Use of money and property
Cost reimbursement
Other
EXPENDITURES
Capital outlay
Excess of revenues over (under)
expenditures
(20,078, ] 59)
(2,]15,534) ]7,962,625
(14,603,876)
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
543,971
( ] ,008.632)
( 543,97])
402,555) 606,077
Excess of revenues over (under)
expenditures and other financing
sources (uses)
$(20,542.820)
(2,518,089) $18,024,731
(14,603,876)
Fund balance, end of year
$19.476,049
$ 21,994.138
See notes to financial statements.
95
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AUGUST A-RICHMOND COUNTY, GEORGIA
,
Special Sales Tax Phase III Fund
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget (GAAP Basis) and Actual
Year Ended December 31,1998
(With Comparative Totals for the Year Ended December 31,1997)
REVENUES
Taxes
Use of money and property
Cost reimbursement
Other
Variance
Favorable 1997
Budget Actual (Unfavorable ) Actual
$ 29,391,895 $28,701,125 $( 690,770) $24,503,648
] ,250,000 1,711,19] 46],]91 1,089,724
2,059,9] 7 556,463 (I,503,454)
27,781 27,781 12,552
32,701.812 30,996,560 ( 1,705,252) 25,605,924
63,340.289 16.129,446 47.210,843 ]9,530,145
(30,638,477) 14,867,114 45,505,59 ] 6,075,779
Total revenues
EXPENDITURES
Capital outlay
Excess of revenues over (under)
expenditures
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers out
( ] ,920,224) (1,379,379)
540,845
( 968,863)
Excess of revenues over (under)
expenditures and other financing
sources (uses)
$(32,558,701) 13,487,735 $46,046,436
5,106,916
Fund balance, beginning of year, as previously
reported
24,183,647
19,076,731
Prior period adjustment
2,4]7,817
Fund balance, beginning of year, as restated
26,601,464
19,076,731
Fund balance, end of year
$40,089.199
$24.183,647
See notes to financial statements.
96
97
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Enterprise Funds
I
Enterprise Funds are generally established if the intent of the governing body is that the cost of providing goods or
services is financed or recovered primarily through user charges or if the governing body has decided that periodic
determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public
policy, accountability, or other purposes.
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Waste Management Fund - This fund accounts for the provision of landfill 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.
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Water and Sewer Fund - This fund accounts for the provision of water and sewer services to residents of the County.
All activities necessary to provide such services are accounted for in this fund, including, but not limited to,
administration, operations, maintenance, financing and related debt service and billing and collection.
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Bush Field Airport Fund - This fund accounts for the operations of Bush Field Airport, the only airport within the
County from which service from the major airlines is available.
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Municipal Golf Course Fund - This fund accounts for the operation of the Municipal Golf Course, an IS-hole golf
course located within the city limits.
I
Transit Fund - This fund accounts for the operations of the Augusta Public Transit which provides scheduled bus service
within Richmond and Columbia counties.
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Daniel Field Airport Fund - This fund accounts for revenue and expenditures related to Daniel Field Airport.
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Old Government House Fund - This fund accounts for the operations ofthe Old Government House, a historic building
within the city limits. The house is available for short-term rentals.
Newman Tennis Center Fund - This fund accounts for receipt and expenditures related to the operations at Newman
Tennis Center.
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98
AUGUST A-RICHMOND COUNTY, GEORGIA
Enterprise Funds
Combining Balance Sheet
December 31,1998
ASSETS
CURRENT ASSETS
Cash and temporary investments
Investments
Receivables (net of allowances for uncollectibles)
Accounts
Interest
Intergovernmental
Other
Prepaid expenses
Inventory
Due from other funds (current portion)
Total current assets
RESTRICTED ASSETS
Revenue bond cash and cash equivalents:
Construction account
Current debt service account
Issuance costs account
Sinking Fund
Customer deposits
Total restricted assets
PROPERTY, PLANT AND EQUIPMENT
(net of accumulated depreciation)
OTHER ASSETS
Deferred bond issuance costs
Revenue bond discount
Long-term portion - due from other funds
Total other assets
Total assets
99
Waste
Management
Water
and Sewer
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Bush Field
Airport
I
$ 915,098 $ 4,334,291 $ 4,716,490
1,2]3,322
I
790,959
1.706.057
2,357,141 477,792
23,402 115,098
337,814
1,279,853 98,317
402,811
9208.009 6,148.322
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AUGUST A-RICHMOND COUNTY, GEORGIA
I
Enterprise Funds
I
. Combining Balance Sheet - Continued
I
December 31,1998
I
LIABILITIES AND FUND EQUITY
Waste
Management
Water
and Sewer
Bush Field
Airport
I
CURRENT LIABILITIES
Accounts and other payables
Accrued interest
Due to other funds
Accrued salaries and vacation
Notes payable - current
Capital leases payable - current
Total current liabilities
$ 165,928
$
996,597 $
1,368,424
1,114,306
330,669
989,616
28,603
4,828,215
168,032
I
51,170
802,663
100,297
I
2.50]
219,599
] ,070,992
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I
CURRENT LIABILITIES (payable from restricted assets)
Accrued revenue bond interest
Revenue bonds payable - current
Customer deposits
Total current liabilities (payable from restricted assets)
Total liabilities and fund equity
5,926
1,115,000 75,000
52,]67
52,167 1,1 15.000 80.926
66,60 I ,543 250,000
18,877,321
5,637.158
5.637,158 85.478.864 250.000
5.908,924 91.422,079 1.401 ,918
1.741,644 41 ,896,587 10,980,252
],735,377
690,767 74,108.497 ] 7.004,529
690.767 74.1 08.497 18,739,906
2.432.411 ] 16,005.084 29,720.158
$8.34] .335 $207.427.163 $31,122.076
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LONG- TERM LIABILITIES
Revenue bonds payable
Notes payable
Certificates of Participation
Closure/postclosure accrual
Total long-term liabilities
Total liabilities
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FUND EQUITY
Contributed capital
Retained earnings (deficits)
Reserved for revenue bond debt
Unreserved
Total retained earnings (deficits)
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Total fund equity
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I
101
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I
See notes to financial statements.
Enterprise Funds
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AUGUST A-RICHMOND COUNTY, GEORGIA
Combining Statement of Revenues, Expenses
and Changes in Retained Earnings (Deficits)
Year Ended December 31, 1998
Waste Water Bush Field
Management and Sewer Airport
OPERA TL~G REVENUES
Charges and fees $5,134,359 $29,3 76,306 $ 7,083.550
OPERATING EXPENSES
Personal services 890,974 5,830,339 2,051,175
Utilities and telephone 15,894 2,355,565 292,758
Maintenance and repairs 514,099 2,082,115 197,299
Materials and supplies 628,788 3,619,143 2,243,336
Professional services 124,358 1,051,333 642,356
Rentals 8,031
Other 82,173 1,252,355 38,103
Depreciation 912,385 5,250,743 927,439
Closure/postc1osure accrual 839.629
Total operating expenses 4.008,300 21.441 ,593 6.400.497
Operating income (loss) 1,126.059 7.934,713 683,053
NONOPERATING REVENUES (EXPENSES)
Interest revenue 16,896 202,255 533,458
Other revenue 78,169 4,861,794 ]4,097
Interest expense (4,343,131) 20,528)
Intergovernmental revenue 28,976 4,734,359 6] 5.555
Net nonoperating revenues (expenses) ]24,041 5.455,277 1. ] 42.5 82
Income (loss) before operating transfers ],250,]00 ]3,389,990 1,825,635
Operating transfers in 374 3,565,394 33,077
Operating transfers out ( 361.016) (7,265,394) 113 ,211)
Net income (loss) 889,458 9,689,990 ],745,501
Retained earnings (deficits), beginning of year, as previously
reported ( 198,691) 64,418,507 16,994,405
Prior period adjustment
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I
Retained earnings (deficits), beginning of year, as restated
( ] 98.691)
64.418.507
16.994.405
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I
Retained earnings (deficits), end of year
$ 690,767
$74.108.497
$18,739,906
See notes to financial statements
103
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I Old Newman
Municipal Daniel Field Government Tennis Totals
I Golf Course Transit Airport House Center 1998 1997
$ $ 81,630 $ 50,975 $172,926 $42,997.358 $43,120,204
$368,008 729,604
I ] 86,474 1,718,511 35,582 51,573 74,214 10,838,842 10,053,766
9,648 46,002 6,779 10,754 20,832 2,758,232 2,658,23 ]
I 27,989 370,826 17,360 838 2,299 3,2] 2,825 3,051,45 ]
17,603 147,774 3,347 2,755 56,851 6,7]9,597 3,977,219
1,407 3,349 1,833 3,172 70,625 1,898,433 1,941,812
I 91,569 17,872 786 118,258 110,396
34,788 87,376 1,494,795 3,323,605
3,451 488,874 7,988 7,281 7,598,161 7,252,408
I 839,629 850.374
372,929 2,880.584 72,889 76,373 225,607 35.478,772 33,2] 9,262
( 4,921) (2,150,980) 8,741 (25.398) (52,681) 7,518,586 9,900,942
I 32,870 12,321 797,800 342,096
]4,374 ]5,738 4,984,] 72 2,476,025
I (4,363,659) (4,310,811)
2]9,191 5,598,08 ] 9,818,007.
47,244 219,191 12.32 ] ]5,738 7,0]6,394 8.325.317
I 42,323 (l ,931,789) 21,062 (25,398) (36,943) 14,534,980 ] 8,226,259
1,687,907 30,206 30,628 5,347,586 5,142,304
(23,]24) ( ] 72.404) ( 6,028) (7,94U77) (9,50 1,768)
I 19,199 ( 416,286) ]5,034 4,808 ( 6,315) 11,941,389 13,866,795
I 224,280 (5,307,272) (83,708) 153,526 ( 1,149) 76,199,898 62,664,379
- ( 331,276)
I
224,280 (5,307,272) (83,708) 153.526 ( ],]49) 76,199,898 62,333,103
I $243.479 $(5,723.558) $(68,674) $158.334 $( 7.464) $88,141.287 $76,199.898
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I 104
AUGUSTA-RICHMOND COUNTY, GEORGIA
Enterprise Funds
Combining Statement of Cash Flows
Year Ended December 31, 1998
Cash flows from operating activities
Operating income (loss)
Adjustments to reconcile operating income (loss) to net cash
provided by operating activities:
Depreciation
Amortization
Net change in assets and liabilities:
Accounts receivable
Intergovernmental receivable
Other receivable
Prepaid expenses
Inventory
Due from other funds
Other assets
Accounts payable
Accrued salaries and vacation
Due to other funds
Customer deposits
Closure/postclosure accrual
Net cash provided (used) by operating activities
Cash flows from noncapital financing activities
Other revenue
Intergovernmental revenue
Operating transfers (net)
Net cash provided (used) by noncapital financing activities
Cash flows from capital and related financing activities
Acquisition and construction of capital assets
Principal paid on revenue bonds
Principal paid on capital leases
Principal paid on notes payable
Proceeds from revenue bonds
Bond issuance costs
Payments on refund debt escrow
Proceeds from certificates of participation
Interest paid
Contributed capital
Net cash provided (used by) capital and related
financing activities
Cash flows from investing activities
Interest received
Purchase of investment
Net cash provided (used) by investing activities
. Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year
See notes to financial statements.
105
( 530,835)
16,896
16,896
919,965
47.300
$ 967.265
( 4,550,780)
21,569)
(20,195,650) (3,189,658)
202,255 533,458
63.362)
138,893 533,458
( 805,770) (l,326,434)
53,484,888 6,462,790
$ 52.679.1 18 $ 5.136.356
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I Old Newman
Municipal Daniel Field Government Tennis Totals
Golf Course Transit Airport House Center 1998 ]997
I $( 4,921) $(2,150,980) $ 8,741 $(25,398) $(52,681) $ 7,518,586 $ 9,900,942
I 3,451 488,874 7,988 7,281 7,598,161 7,252,408
579,625
I 1,223 14,419) 149,087 131,748
472,039 475,333 ( 537,044)
] 7,829 ( 1,653) 109,475 22,842 ( 2,337)
I 500 4,435 4,935 ( 4,435)
9,360 46,987) ( 219,294)
367,459 332,997
I 227,504)
25,148 22,719 (177,769) 3,414 7,016 ( 189,953) 175,328
( 2,172) ( 71,451) ( 401) ( 579) ( 887) ( 350,577) ( 3,] 96,322)
610,985 ( 362,121) 174,298 (96,230) ( 2,012,090) 6,600
I 4,867
839,629 850,374
661 ,403 ( 1 ,662.326) 15,639 ( 2,037) (46,552) ]4,788,610 14,682,755
I 14,374 15,738 4,984,172 2,476,025
219,191 5,598,08 ] 9,818,007
I ( 23,124) ] ,515,503 ( 6,028) 30,206 30,628 ( 2,593,591) ( 4.359,464)
( 8.750) 1.734,694 ( 6,028) 30,206 46,366 7,988,662 7,934,568
( 732,310) ( 120,008) ( 24,736) ( 8,491) (I 8,30 1 ,949) (11,122,20])
I ( 1,145,000) ( 1,080,000)
( 834) ( 250,898)
( 781,556) ( 318,964)
I 5,779,]47
( ] 14,449)
( 6,760,198)
1,705,000 1,705,000
I ( 4,572,349) ( 3,132,519)
47.640 47,640 1.209,576
I 972,690 ( 72.368) ( 24,736) ( 8,491) (23,049,048) (15,790,506)
I
32,870 ]2,321 . 797,800 342,096
I ( 63,362) ( 73,104)
32,870 12.321 734,438 268,992
1,658,213 ( 2,804) 19,678 ( 186) 462,662 7,095,809
128,236 1.150 333,633 7,633 60,465,630 53,369,821
I $1, 786,449 $ 1.150 $ 330,829 $ 19,678 $ 7,447 $ 60,928,292 $ 60,465,630
I 106
107
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Internal Service Funds
I
Internal service funds are used to account for goods or services provided by a central service department or agency to
other departments, agencies, or component units of the governmental unit, or to other unrelated governmental units,
usually on a cost reimbursement basis.
I
Risk Management Fund - This fund accounts for the receipt and disbursement of worker's compensation claims,
settlement exposure and damage expense claims, unemployment benefits, commercial insurance premiums, bond on
certain employees and elected officials and employee insurance benefits for health and dental claims.
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I
Fleet Operations Fund - This fund accounts for the operation and maintenance of County vehicles. The Fund bills other
County funds at amounts that will approximately recover all the cost of the services provided.
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Central Services Fund - This fund accounts for maintenance and printing services provided to other County funds. The
Fund bills other County funds at amounts that will approximately recover all the cost of the services provided.
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108
109
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AUGUST A-RICHMOND COUNTY, GEORGIA
Internal Service Funds
Combining Balance Sheet
December 31, 1998
ASSETS
Risk Fleet Central Totals
Management Ooerations Services 1998 1997
CURRENT ASSETS
Cash and cash equivalents $1,686,793 $414,910 $ $2,101,703 $1,664,166
Accounts receivable 1,726 1,726 ],296
Inventory 175.843 15,184 191.027 ] ]5,563
Total current assets 1,688,5] 9 590,753 15,184 2,294,456 1,781,025
PROPERTY, PLANT AND EQUIPMENT
(net of accumulated depreciation) 163.434 37.038 - 200.4 72 57.439
-
Total assets $ 1,85 1,953 $627,791 $15.184 $2.494.928 $1,838.464
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
Accounts and other payables $],041,625 $676,998 $ $1,718,623 $1,356,568
Due to other funds ]3,743 15,191 28,934 ]7,072
Accrued salaries and vacation 19.200 2.881 - 22.081 28,821
-
Total current liabilities 1,074,568 679,879 15,19 ] 1,769,638 1,402,46]
FUND EQ UITY
Retained earnings (deficits) 777,385 (52,088) L-1.) 725.290 436.003
Total liabilities and fund equity $1 ,851.953 $627.791 $15.184 $2.494,928 $1.838.464
See notes to financial statements.
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AUGUST A-RICHMOND COUNTY, GEORGIA
Internal Service Funds
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings (Deficits)
Year Ended December 31,1998
Risk Fleet Central Totals
Management Operations Services 1998 1997
OPERATING REVENUES
Charges and fees $ 7.655.062 $3,659,240 $ - $11.314.302 $10.961,336
-
Total operating revenues 7,655,062 3,659.240 - 11.314.302 10.961,336
-
OPERA TING EXPENSES
Personal services 2] 5,889 215,889 201,843
Utilities and telephone 2,414 87,182 89,596 ]05,473
Maintenance and repairs 1,220 100,309 101,529 12,100
Materials and supplies 7,664 9,325 16,989 4,670
Professional services 163,835 3,376,698 3,540,533 3,798,932
Other 39,834 83,347 123,]81 202,685
Depreciation 25,668 ]5,127 40,795 54,617
Risk benefit charges 11.444.308 - 11 ,444,308 12,199,202
-
Total operating expenses ] 1.900,832 3,671.988 - 15,572,820 16.579.522
-
Operating loss (4,245,770) ( 12,748) (4,258,518) (5,6] 8, 186)
NONOPERATING REVENUES (EXPENSES)
Interest revenue 6,380 6,380
Other revenue 207,380 29,067 236,447 1,750
Interest expense 51 ,882) - ( 51.882) ( 68.277)
-
Income (loss) before operating
transfers (4,090,272) 22,699 (4,067,573) (5,684,7]3)
Operating transfers in 4,364,639 4,364,639 4,343,253
Operating transfers out 7,779) - ( 7.779) ( 79.2 I 9)
-
Net income (loss) 274,367 14,920 289,287 (1,420,679)
Retained earnings (deficits), beginning of year 503,018 ( 67,008) L-.l) 436,003 ] .856.682
Retained earnings (deficits), end of year $ 777.3 85 $( 52,088) $( 7) $ 725.290 $ 436,003
See notes to financial statements.
]10
III
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Internal Service Funds
Combining Statement of Cash Flows
Year Ended December 31, 1998
Risk Fleet Central Totals
Management Operations Services 1998 ]997
Cash flows from operating activities
Operating loss $(4,245,770) $(12,748) $ - $(4,258,518) $(5,618,186)
Adjustments to reconcile operating loss to net
cash provided (used) by operating activities:
Depreciation 25,668 15,127 40,795 54,617
Net change in assets and liabilities:
Accounts receivable 430) ( 430) 196,796
Prepaid expenses 232,796
Inventory (73,561) ( 1,903) 75,464) ( ] 02,282)
Due from other funds ],510,237
Accounts payable 334,528 72,051 (44,524 ) 362,055 ( 250,972)
Accrued salaries and vacation 9,348) 2,608 6,740) ( 74,394)
Due to other funds I 1.862 I 1.862 (1.213.654)
Net cash provided (used) by operating
activities (3,895,352) 3.477 (34,565) (3,926.440) (5.265.042)
Cash flows from noncapital financing activities
Other revenue 207,380 29,067 236,447 1,750
Operating transfers (net) 4,364,639 ( 7,779) 4,356,860 4.264,034
Net cash provided by operating
noncapital financing activities 4.572.0] 9 21.288 4,593.307 4.265,784
Cash flows from capital and related financing
activities
Acquisition of capital assets 158,776) (25,052) ] 83,828) 28,455)
Interest paid 5 1.882) 51 ,882) 68.277)
Net cash used by capital and related
financing activities ( 2]0,658) (25,052) 235.710) ( 96.732)
Cash flows from investing activities
Interest received 6,380 6,380
Net increase (decrease) in cash and cash equivalents 466,009 6,093 (34,565) 437,537 (1,095,990)
Cash and cash equivalents, beginning of year ] ,220,784 408.817 34.565 1.664.166 2,760.]56
Cash and cash equivalents, end of year $ 1,686,793 $414,910 $ - $ 2.]01,703 $ 1.664.166
See notes to financial statements.
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Trust and Agency Funds
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Fiduciary funds are used to account for assets when a governmental unit is functioning either as a trustee or as an agent
for another party, Because the County is functioning in a fiduciary capacity, the authority to employ, dispose of, or
otherwise use the assets is not determined by a legislative body or oversight board, but by the public laws and private
agreements that created the trustee or agency relationship.
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Agency Funds - An agency fund is created to act as custodian for other funds, governmental units, or private entities.
Assets are recorded by the agency fund, held for a period of time as determined by legal contract or circumstances, and
then returned to their owners. The County utilizes agency funds to account for the following:
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Tax Commissioner - This fund accounts for tax billings, collections and remittances made by the Tax Commissioner
on behalf of the County and other governmental agencies.
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Probate Judge - This fund accounts for the receipt and disbursement oflicenses and other fees collected by the Probate
Judge.
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Sheriffs Department - This fund accounts for the receipt and disbursement of funds collected by the department from
individuals posting bond.
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Civil Court - This fund accounts for the receipt and disbursement of court-ordered fines, fees and garnishments made
on behalf of third parties and traffic violation fines.
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Clerk of Court - This fund accounts for the receipt and disbursement of court-ordered fines and fees made on behalf of
third parties.
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Deferred Compensation - This fund accounts for monies voluntarily deducted from employee's pay checks which is then
invested for the employee's future use.
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Expendable Trust Funds - Those trust funds whose principal and income may be expended in the course of their
designated operations so that they are depleted by the end of their designated life. An expendable trust fund is accounted
for in the same manner as governmental funds.
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Joseph R. Lamar Fund - This fund accounts for the receipt of investment earnings from the Joseph R. Lamar Principal
Fund and payment of the annual award.
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Perpetual Care Fund - This fund accounts for monies collected from sale of perpetual care contracts at County-owned
cemeteries after October I, 1970, as well as receipt of investment earnings on all perpetual care investments and
payment of cemetery maintenance expenditures.
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Nonexpendable Trust Funds - Trust funds that allow the earnings to be used to achieve the objectives of the fund, but
require that the principal be preserved intact. A nonexpendable trust fund is accounted for in essentially the same
manner as a proprietary fund.
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Joseph R. Lamar Fund - This fund accounts for monies provided by a private donor 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.
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Perpetual Care Fund - This fund accounts for monies collected from the sale of perpetual care contracts at County-
owned cemeteries before October], 1970. The principal must be maintained intact and invested. Investment earnings
are used for cemetery maintenance.
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Pension Trust Funds - Pension trust funds account for the assets of the County's employees' retirement plans.
1945 Pension Trust Fund - This fund accounts for the accumulation of resources to be used for retirement annuity
payments to participants of the 1945 Plan at appropriate amounts and times in the future. Resources are contributed by
the County at amounts determined using actuarial assumptions and calculations. Resources contributed by employees
are based on a percentage of an individual's gross salary.
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1977 Pension Trust Fund - This fund accounts for the accumulation of resources to be used for retirement annuity
payments to participants of the 1977 Plan at appropriate amounts and times in the future. Resources are contributed by
the County at amounts determined using actuarial assumptions and calculations. Resources contributed by employees
are based on a percentage of an individual's gross salary.
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General Retirement Fund - This fund accounts for contributions to the County's pension plan that are to be used for
retirement payments at appropriate amounts and times in the future.
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. AUGUSTA-RICHMOND COUNTY, GEORGIA
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See notes to financial statements.
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Exoendable Trust Funds
Joseph R. Perpetual
Lamar Care
Nonexoendable Trust Funds
Joseph R. Perpetual
Lamar Care
Pension Trust Funds
1945 1977 General
Plan Plan Retirement
Totals
1998 1997
$
$551,127
$5,350
$338,625 $ 1,151,334
12,083,466
$2,119,641 $ 2,665,346 $ 13,400,076 $ 8,982,206
7,857,151 67,971,229 87,911,846 82,570,085
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5,304
10,370,525
5,304
8,895,001
8,327
6,678
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975,095
6,372,437
975,095
600,000
5,179,085
975,095
1,115.361
-
-
600.000
$ -
$556.43 I
$5.350
$338,625 $13,834.800 $9,976,792 $71.611.670 $119,635,283 $107,731.838
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$ $ 1,972 $ $ $ $ 1,765 $ - $ 3,737 $ 4,758
4,172,751 2,735,863
350 58,258 453,903 2,908,413 1,714,732
10,370,525 8,895,001
- - - - 6,372.437 5.179,085
- - - -
350 --Lm - - 58.258 1,765 453,903 23.827.863 18.529.439
- -
(350) 554,459 5,350 338,625 898,084 862,966
71,157)67 71,157,767 66,391,882
- - - - 13.776,542 9,975,027 23.751.569 21.947,551
- - - -
(350) 554.459 5.350 338,625 13,776,542 9,975,027 71,157,767 95,807.420 89,202.399
$ - $556.431 $5,350 $338,625 $ I 3.834,800 $9,976,792 $71,611.670 $119,635,283 $107,731.838
-
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December 31,
Deductions ] 998
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AUGUST A-RICHMOND COUNTY, GEORGIA
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Agency Funds
Combining Statement of Changes in Assets and Liabilities
ASSETS
$ 18,255 $ 194.810 $ 192,205 $ 20.860
LIABILITIES
$ 5,700 $ 25,888 $ 25,165 $ 6,423
12,555 168,922 167.040 14.437
$ 18.255 $ 194,810 $ ] 92,205 $ 20.860
ASSETS
$ 792,997 $ 2,906,655 $ 2,780,267 $ 919,385
390,3] 5 390,315
$1.183.312 $ 2,906.655 $ 3,170.582 $ 919,385
LIABILITIES
$],183,312 $ 2,906,655 $ 3,170.582 $ 919,385
Year Ended December 31, 1998
Tax Commissioner
December 31,
]997 Additions
ASSETS
$ 734,010 $ 98,473,754
8,895,00 ] 99,949,278
$9,629,011 $198.423,032
LIABILITIES
$ 502,30 I $ 63,769,430
231,709 34,704,284
8.895,001 99,949.278
$9,629.01 ] $198.422,992
Cash
Taxes receivable
Total assets
Due to others
Due to other funds
Uncollected taxes
Total liabilities
Probate
Cash
Due to others
Due to other funds
Total liabilities
Sheriff
Cash
Due from other funds
Total assets
Due to others
See notes to financial statements.
117
$ 97,378,]66 $ ],829,598
98.473,754 10,370,525
$195.851.920 $12.200.123
$ 63,067,338 $ 1,204,393
34,310,788 625,205
98.473.754 10.370.525
$195.85 \,880 $12,200.123
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Agency Funds
Combining Statement 9f Changes in Assets and Liabilities - Continued
Year Ended December 31, 1998
December 31, December 31,
1997 Additions Deductions 1998
ASSETS
$ 287,634 $ 2,176,280 $2,]49,]95 $ 3 ]4,7]9
25,046 25,046
$ 312,680 $ 2,176.280 $2,174.241 $ 314,719
LIABILITIES
$ ] 73,737 $ 326,778 $ 329,255 $ 17],260
138.943 1,849,502 1 ,844,986 143,459
$ 312,680 $ 2,176,280 $2,] 74,241 $ 3]4,719
Civil Court
Cash
Due from other funds
Total assets
Due to others
Due to other funds
Total liabilities
Clerk of Court
Cash
ASSETS
$1.281.558 $10,729,75]
LIABILITIES
$ 870,8] 3 $ 5,031,460
410,745 5,743.291
$1.281.558 $10.774.75]
ASSETS
$5,179,085 $ 1.738.627
LIABILITIES
$5,179,085 $ 1,738,627
Due to others
Due to other funds
Total liabilities
Deferred Compensation
Restricted investments
Deferred compensation benefits payable
See notes to [mancial statements.
118
$8,527.218 $3,484.091
$4,030,983 $1,871,290
4,541.235 1.612.801
$8,572.218 $3,484,091
$ 545.275 $6.372,437
$ 545,275 $6,372,437
Continued on following page
6,372,437
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AUGUST A-RICHMOND COUNTY, GEORGIA
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Agency Funds
Combining Statement of Changes in Assets and Liabilities - Concluded
Year Ended December 31,1998
December 31,
1997 Additions
Deductions
December 31,
1998
Totals
ASSETS
1.738.627
$1] ],027,051
98,473,754
415,361
545.275
$ 6,568,653
] 0,370,525
Cash
Taxes receivable
Due from other funds
Restricted investments
$ 3,114,454
8,895,001
415,36]
5,179.085
$114,481,250
99,949,278
Total assets
$17,603,90]
$216,169,155
$210,461.441
$23,3] 1.615
LIABILITIES
Due to others $ 2,735,863 $ 72,060,2] 1 $ 70,623,323 $ 4,172,75]
Due to other funds 793,952 42,465,999 40,864,049 2,395,902
Uncollected taxes 8,895,001 99,949,278 98,473,754 10,370,525
Deferred compensation benefits payable 5,179,085 1.738.627 545.275 6,372,437
Total liabilities $17,603,901 $216.214,115 $210.506,401 $23,31 1.615
See notes to fmancial statements.
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Expendable Trust Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances (Deficit)
Year Ended December 31,1998
JosephR, Perpetual Totals
Lamar Care 1998 1997
REVENUES
Use of money and property $ $ 51,344 $ 51,344 $ 25,173
Other - 1,062 ],062 870
-
Total revenues - 52.406 52.406 26,043
-
EXPENDITURES
Operating supplies and materials ] 7,288 17,288 11,288
Other 175 ]75 175
Total expenditures 175 17,288 17 .463 II .463
Excess of revenues over (under)
expenditures (\ 75) 35, ll8 34,943 14,580
OTHER FINANCING SOURCES
Operating transfers in - 34,948
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Excess of revenues over (under)
expenditures and other financing sources (175) 35,118 34,943 49,528
Fund balances (deficit), beginning of year, as previously
reported (\ 75) 519,341 519,] 66 455,120
Prior period adjustment - 14,518
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Fund balances (deficit), beginning of year, restated u..m 5]9.341 519.166 469,638
Fund balances (deficit), end of year $(350) $554,459 $554.1 09 $519.166
See notes to fmancial statements.
120
Joseph R.
Lamar
Perpetual
Care
Totals
1998 ]997
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Nonexpendable Trust Funds
Combining Statement of Revenues, Expenses and
Changes in Fund Balances
Year Ended December 31,1998
OPERATING REVENUES
Interest
Total revenues
$ --1.TI $
--1.TI
$
175 $ 35,123
] 75 35,123
OPERA TING EXPENSES
Net income
-
-
175 175 35,123
- (34.948)
-
]75 175 ]75
5. 175 338.625 343,800 343,625
$5,350 $338,625 $343.975 $343.800
Operating income
Operating transfers out
Fund balances, beginning of year
Fund balances, end of year
See notes to financial statements.
121
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AUGUSTA-RICHMOND COUNTY, GEORGIA
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Pension Trust Funds
Combining Statement of Revenues, Expenses and
Changes in Fund Balances
Year Ended December 31,1998
]945 1977 General Totals
Plan Plan Retirement ]998 ]997
OPERA TING REVENUES
Contributions $ 8,604 $1,955,358 $ 380,871 $ 2,344,833 $ 1,887,588
Interest Ll19,347 484,] 86 8,042,005 9,645,538 13,171,542
Total revenues Ll27,95I 2,439,544 8,422,876 1 1,990,371 15,059,]30
OPERATING EXPENSES
Administration . 104,362 281,351 550,288 936,001 729,163
Benefit payments 932, f91 410,251 3,824,808 5,167,250 4,785,513
Refunds 136,691
Total operating expenses 1,036,553 691.602 4,375,096 6,] 03,25] 5,651.367
Operating income 9],398 1,747,942 4,047,780 5,887, ]20 9,407,763
Operating transfers in 774,040 774,040 947,525
Operating transfers out 26,] 65) ( 9,157) ( 55,935) 9] .257) ( 284,695)
Net income 65,233 1.738,785 4,765,885 6,569,903 ] 0,070,593
Fund balances, beginning of year,
as previously reported 13,711,309 8,236,242 66,39],882 88,339,433 70,378,891
Prior period adjustment 7,889,949
Fund balances, beginning of year, restated 13,7] 1.309 8.236.242 66,391,882 88,339,433 78.268.840
Fund balances, end of year $13,776,542 $9,975,027 $71.157,767 $94,909,336 $88,339,433
See notes to financial statements.
122
AUGUST A-RICHMOND COUNTY, GEORGIA
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Nonexpendable Trust Funds
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Combining Statement of Cash Flows
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Year Ended December 31, 1998
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Joseph R. Perpetual Totals
Lamar Care 1998 1997
Cash flows from operating activities
Operating income $ 175 $ $ 175 $ 35,123
Cash flows from noncapital financing activities
Operating transfers out - (34,948)
-
Net increase in cash and cash equivalents 175 ]75 ]75
Cash and cash equivalents, beginning of year 5.] 75 338,625 343,800 343.625
Cash and cash equivalents, end of year $5,350 $338.625 $343,975 $343,800
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See notes to financial statements.
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CERTIFIED PUBLIC
ACCOUNTANTS &
CONSULTANTS
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INDEPENDENT AUDITORS' REPORT ON SCHEDULE OF EXPENDITURES
OF FEDERAL AWARDS
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To the Board of Commissioners
Augusta-Richmond County
Augusta-Richmond County, Georgia
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We have audited the general-purpose financial statements of Augusta-Richmond County, Georgia, as of and for the year
ended December 31, 1998, and have issued our report thereon dated July 30, 1999. These general-purpose fmancial
statements are the responsibility of the Augusta-Richmond County's management. Our re~ponsibility is to express an
opinion on these general-purpose fmancial statements basecton our audit. -
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We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the [mancial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures used and significant estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis for our opinion.
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In our opinion, the general-purpose financial statements referred to above present fairly, in all material respects, the
fmancial position of Augusta-Richmond County, Georgia, as of December 31, 1998, and the results of its operations
and the cash flows of its proprietary fund types and nonexpendable trust funds for the year then ended in conformity
with generally accepted accounting principles.
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In accordance with Government Auditing Standards, we have also issued our report dated July 30, 1999 on our
consideration of Augusta-Richmond County's internal control over financial reporting and our tests of its compliance
with certain provisions of laws, regulations, contracts and grants.
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Our audit was conducted for the purpose of forming an opinion on the general-purpose financial statements of Augusta-
Richmond County, Georgia taken as a whole. The accompanying schedule of expenditures of federal awards is
presented for purposes of additional analysis as required by U.S, Office of Management and Budget Circular A- P3,
Audits o/States, Local Governments, and Non-Profit Organizations, and is not a required part of the general-purpose
fmancial statements. Such information has been subjected to the auditing procedures applied in the audit of the general-
purpose [mancial statements and, in our opinion, is fairly stated, in all material respects, in relation to the general-
purpose financial statements taken as a whole.
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Augusta, Georgia
July 30, 1999
~I g~kaut-i' ;/JIe"v.t~ Lt,/!
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126
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Schedule of Expenditures of Federal Awards
Year Ended December 31,1998
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Federal Grantor / Federal Agency or
Pass-through Grantor / CFDA Pass-through Federal
Program Title Number Number Expenditures
U.S. Department of Housing and Urban Development
Direct Programs
Community Development Block Grant 14.218 B-98-MC-13-0003 $2,734,393
Emergency Shelter Grant 14.231 S-98-MC-13-0004 62,764
Home Grant 14.239 M-98-MC-13-0206 287.155
Total U.S. Department of Housing and Urban
Development 3.084,312
U.S. Department of Justice
Direct Programs
COPS Ahead 16.710 95-CC-WX-0135 1,2]4,470
Local Law Enforcement Block Grant 16.592 96-LB- VX-2759 121,249
16.592 97-LB- VX-5235 62,084
Pass-through from the Office of the Governor
Criminal Justice Coordinating Council
Drug Control and System Improvement
Formula Grants 16.579 B97 -8-003 88,508
Victims Assistance Grants ]6.575 98-V A-GX-0013 42,55]
Violence Against Women ]6.588 VW-96-48 69,832
Executive Office for Weed and Seed 16.595 9-W007-GA-WS 5.464
Total U.S. Department of Justice 1.604,158
U.S. Department of Transportation
Direct Programs
Urban Mass Transportation Capital and Operating
Assistance Grants 20.507 GA-90-X093 139,731
20.507 GA-90-X]02 18,778
20.507 GA-90-XI12 47,021
Airport Improvement Program Grants 20.106 3-]3-0011-17 30],6]0
20.106 3-13-0011-]8 314.998
Total U.S. Department of Transportation 822,138
U.S. Department of Commerce
Passed through Defense Adjustment Savannah River
Plant
Small Business Incubator 11.302 04-49-04242 492,352
Total $6,002.960
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Note: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
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AUGUSTA-RICHMOND COUNTY, GEORGIA
Summary Schedule of Prior Audit Findings
Ye~r Ended December 31,1998
U.s. Department of Housing and Urban Development
Findings in Relation to the Audit of the Financial Statements
None
Findings for Federal A wards
None
U.S. Department of Transportation Federal Aviation Administration
Findings in Relation to the Audit of the Financial Statements
None
Findings for Federal Awards
None
128
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CHERRt
BEKAEIU&.
HOLL~ND
CERTIFIED PBBLIC
ACCOUNT ANfrS &
CONSULT ANTS
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REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNT ANTS ON
COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL
REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
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To the Board of Commissioners
Augusta-Richmond County
Augusta-Richmond County, Georgia
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We have audited the fmancial statements of Augusta-Richmond County as of and for the year ended December 31,
1998, and have issued our report thereon dated July 30, 1999. We conducted our audit in accordance with generally
accepted auditing standards and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States.
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Compliance '
As part of obtaining reasonable assurance about whether Augusta-Richmond County's financial statements are free of
material misstatement, we performed tests of its compliance with certain provisions oflaws, regulations, contracts and
grants, noncompliance with which could have a direct and material effect on the determination of financial statement
amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and,
accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that
are required to be reported under Government Auditing Standards.
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Internal Control over Financial Reporting
In planning and performing our audit, we considered Augusta-Richmond County'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 fmancial reporting would not necessarily disclose all matters in the internal control over financial
reporting that might be material 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 pei-forming their assigned functions. We noted no matters
involving the internal control over financial reporting and its operation we consider to be material weaknesses.
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This report is intended for the information of the audit committee, management and federal awarding agencies and pass-
through entities. However, this report is a matter of public record and its distribution is not limited.
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Augusta, Georgia
July 30, 1999
,r / . ; Ii 'I / {It .t/l(f- ~ (~l!tt.Le.( L.. L ,I)
UefU;Y /!J.J{ . v 1 rlc' I' ,
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129
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CERTIFIED PUBLIC
ACCOUNT ANTS &
CONSULTANTS
1
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-133
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To the Board of Commissioners
Augusta-Richmond County
Augusta-Richmond County, Georgia
.1
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Compliance ,
We have audited the compliance of Augusta-Richmond County, Georgia with the types of compliance requirements
described in the u.s. Office of Management and Budget (OMB) Circular A-I33 Compliance Supplement that are
applicable to each of its federal programs for the year ended December 31, 1998. Augusta-Richmond County's major
federal programs are identified in the summary 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-Richmond County's management. Our responsibility is
to express an opinion on Augusta-Richmond County's compliance based on our audit.
.1
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We conducted our audit of compliance in accordance with generally accepted auditing standards; the standards
applicable to fmancial audits contained in Government Auditing Standards, issued by the Comptroller General of the
United States; and OMB Circular A-133, Audits of States, Local Governments. and Non-Profit Organizations, Those
standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about
whether noncompliance with the types of compliance requirements referred to above that could have a direct and
material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about
Augusta-Richmond County'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-Richmond County's compliance with those requirements.
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In our opinion Augusta-Richmond County 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, 1998.
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Internal Control Over Compliance
The management of Augusta-Richmond County is responsible for establishing and maintaining effective internal control
over compliance with requirements oflaws, regulations, contracts and grants applicable to federal programs. In planning
and performing our audit, we considered Augusta-Richmond County's internal control over' compliance with
requirements that could have a direct and material effect on a major federal program in order to determine our auditing
procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over
compliance in accordance with OMB Circular A-l33.
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Our consideration of the internal control over' compliance would not necessarily disclose all matters in the internal
control that might be material weaknesses. A material weakness is a condition in which the design or operation of one
or more of the internal control components does not reduce to a relatively low level the fisk that noncompliance with
applicable requirements of laws, regulations, contracts and grants that would be material in relation to a major federal
program being audited may occur and not be detected within a timely period by employees in the normal course of
performing their assigned functions. We noted no matters involving the internal control over compliance and its
operation that we consider to be material weaknesses.
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This report is intended for the information of the audit committee, management and federal awarding agencies and pass-
through entities. However, this report is a matter of public record and its distribution is not limited.
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Augusta, Georgia
July 30, 1999
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AUGUSTA-RICHMOND COUNTY
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Schedule of Findings
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Year Ended December 31,1998
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Summary of the Auditor's Results
1. The independent auditor's report on the fmancial statements expressed an unqualified opinion.
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2, There were no reportable conditions in internal control over financial reporting disclosed in the audit of the
financial statements.
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3. The audit did not disclose any material noncompliance matters in relation to the financial statements.
4. There were no reportable conditions in internal control over compliance applicable to major programs.
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5. The report on compliance for major programs expressed an unqualified opinion,
6. The audit disclosed no immaterial instances of noncompliance.
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7. The major programs of Augusta-Richmond County included in the audit were:
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a. U.S. Dept. ofHUD - Community Development Block grants -CFDA ]4.218
b. U.S. Dept. of Justice - COPS AHEAD Grant - CFDA 16.710
c. U.S. Dept. of Transportation - Airport Improvement Program - CFDA 20.106
d. U.S. Dept. of Commerce - Small Business Incubator - CFDA 11.302
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8. The threshold for distinguishing Types A and B programs was $300,000.
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Findings in Relation to the Audit of the Financial Statements
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None
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Findings for Federal Awards
None
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