HomeMy WebLinkAboutCHERRY BEKAERT HOLAND AUDIT REPORT 2005
_.,.
. .
. . .
CERTIFIED PUBLIC_.
ACCOUNTANTS &
CONSULTANTS
The Finance Committee of the
Augusta-Richmond County Commission
Augusta, Georgia
Dear Members:
We have audited the basic financial statements of Augusta, Georgia (the "Government") for the year ended
December 31, 2005, and have issued our report thereon dated September 25, 2006. Our opinion on the
Government's financial statements, insofar as it relates to the amounts induded for Richmond County Board
of Health and the Downtown Development Authority, component units, is based solely on the reports of
other auditors. Accordingly, Richmond County Board of Health and the Downtown Development Authority
are not covered by this report. As required by auditing standards generally accepted in the United States of
America (GMS), we are providing you with the information shown below relative to the conduct of our audit.
This report is intended solely for the use of the Board of Commissioners and management of the
Government and is not intended to be and should not be used by anyone other than these specified parties.
OUR RESPONSIBILITY UNDER GAAS AND OMB CIRCULAR A-133
Our responsibility under GMS is to plan and perform our audit to obtain reasonable, but not absolute,
assurance that the financial statements of the Government are free of material misstatement and are fairly
presented in accordance with accounting principles generally accepted in the United States of America.
Because an audit is designed to provide reasonable, not absolute, assurance and because we did not
perform a detailed examination of all transactions, there is a risk that material misstatements may exist and
not be detected by us.
In planning and performing our audit, we considered the Government'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. We also
considered 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-133.
As part of obtaining reasonable assurance about whether the Government's financial statements are free of
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts and grants, noncompliance with which could have a direct and material effect on the determination
of financial statement amounts. However, providing an opinion on compliance with those provisions was
not an objective of our audit. Also, in accordance with OMB Circular A-133, we examined, on a test basis,
evidence about the Government's compliance with the types of compliance requirements described in the
U.S. Office of Management and Budget (OM B) Circular A-133 Compliance Supplement applicable to each
of its major federal programs for the purpose of expressing an opinion on the Government's compliance with
those requirements. While our audit provides a reasonable basis for our opinion, it does not provide a legal
determination on the Government's compliance with those requirements.
INDEPENDENCE
We are familiar with Rule 101 of the AICPA's Code of Professional Conduct and its interpretations and
rulings. As far as the Government is concerned, our firm has been, for the period covered by the financial
statements under report and thereafter to date, in fact independent as contemplated by such Rule.
SIGNIFICANT ACCOUNTING POLICIES
Management is responsible for the selection and use of appropriate accounting policies. In accordance with
the terms of our engagement letter, we will advise management about the appropriateness of accounting
policies and their application. Note 1 to the financial statements of the Government contains a summary of
significant accounting policies. During the year ended December 31, 2005 no new significant accounting
policies were adopted and the application of existing policies was not changed. We noted no transactions
entered into by the Government during the year that were both significant and unusual, and of which, under
professional standards, we are required to inform you, or any significant transactions for which there is a
lack of authoritative guidance or consensus.
MANAGEMENT JUDGMENTS AND ACCOUNTING ESTIMATES
Accounting estimates are an integral part of the financial statements prepared by management and are
based upon management's current judgments. Certain accounting estimates are particularly sensitive
because of their significance to the financial statements and because of the possibility that future events
affecting them may differ markedly from management's current judgments.
Management's estimate of the allowance for doubtful accounts is based on historical water, sewer and
landfill revenues, historical loss levels, and an analysis of the collectibility of individual accounts. The
estimated liability for landfill closure and postclosure care costs is based on usage (filled) of the different
cells, costs of equipment, facilities, and services required to close, monitor, and maintain the landfill.
We evaluated the key factors and assumptions used to develop the allowance for doubtful accounts
and closure and postclosure liability to determine that they seem reasonable in relation to the basic
financial statements of the Government for the year ended December 31, 2005 taken as a whole. While
the procedures used by management and the amount of the allowance for doubtful accounts and the
closure and postclosure liability seem reasonable at this time, there will usually be differences between
the allowance for doubtful accounts and landfill liability and actual results and these differences may be
material.
SIGNIFICANT AUDIT ADJUSTMENTS
For purposes of this letter, professional standards define an audit adjustment as a proposed correction of
the financial statements that, in our judgment, may not have been detected except through our auditing
procedures. An audit adjustment mayor may not indicate matters that could have a significant effect on the
Government's financial reporting process (that is, cause future financial statements to be materially
misstated).
We proposed various significant audit adjustments related to the year-end closing of the trial balance and
preparation of reconciliation schedules for the annual financial statements.
A number of the significant audit adjustments related to the Government providing adjusting entries after
year-end closing ofthe trial balance, relating to accounts payable, revenues, inventory, accounts receivable,
accrued expenses, capital expenditures, bonds payable and costs, construction in progress, and interfund
transfers.
A number of the significant audit adjustments were proposed to correct errors relating to taxes receivable,
accounts receivable, deferred revenue, capital assets, capital leases, notes receivable and accounts
payable.
A listing of the audit adjustments are attached to this letter for reference.
Summary of Audit Differences
Included as an attachment to this letter is a summary of uncorrected financial statement misstatements
aggregated during our audit of the Government's financial statements for the period ended December 31 ,
2005 whose effects management believes are immaterial, both individually and in the aggregate, to the
financial statements taken as a whole.
OTHER INFORMATION IN DOCUMENTS CONTAINING AUDITED FINANCIAL STATEMENTS
Our responsibility for other information in documents containing the Government's financial statements and
our report thereon does not extend beyond the financial information identified in our report, and we have no
obligation to perform any procedures to corroborate other information contained in these documents. We
have, however, read the other information included in the Government's annual report, and no matters came
to our attention that cause us to believe that such information, or its manner of presentation, is materially
inconsistent with the information, or manner of its presentation, appearing in the financial statements.
DIFFICULTIES ENCOUNTERED IN PERFORMING THE AUDIT
As you know, the financial statements and our report thereon were delivered to you in December 2006. We
had previously projected a delivery date of May 2006. The delay was caused by (1) the Government does
not have sufficient resources devoted to financial reporting nor personnel with the appropriate financial
reporting knowledge level in order to properly prepare and review financial statements and schedules, (2)
the Government does not have a reconciliation process in place to timely perform a reconciliation of capital
expenditures to the additions to the capital asset system and does not enforce the closing out of projects
from construction in progress to the capitalization in the capital asset system, and (3) the Government does
not have a reconciliation process in place to timely perform a reconciliation of the Schedule of Expenditures
of Federal awards to the general ledger.
Oflj/l/l1lf,Pt~ (}-/rdUJ1 lLP
Augusta, Georgia
September 25, 2006
AUGUSTA-RICHMOND COUNTY Page: 1
Journal Entries Report : Adjusting Entries Prepared by: TM
12/21/2006 12:25PM December 31, 2005 Reviewed by:
Entry II Status Account/Code Description Debit Credit
AJE 1 Posted 509-00-00001256 2000 Bonds Payable 355,000.00
509-00-00001226 Bond Payable - Current 355,000.00
To reclassify current portion of long-term
debt.
AJE 2 Posted RV 101-00-00001342 Fund Balance-Unreserved, Undes 4.00
101-01-31103891 Miscellaneous Income 4.00
208-00-00001342 Fund Balance-Unreserved, Undes 1. 00
208-02-21125311 General supplies and materials 1.00
216-00-00001342 Fund Balance-Unreserved, Undes 1.00
216-03-71105311 General supplies and materials 1.00
217-00-00001342 Fund Balance-Unreserved, Undes 1.00
217-07-22105311 General supplies and materials 1.00
272-00-00001342 Fund Balance-Unreserved, Undes 824.00
272-01-51105311 General supplies and materials 824.00
276-00-00001342 Fund Balance-Unreserved, Undes 1.00
276-04-16105111 Perm Full-Time S&W-Regular 1. 00
221-00-00001342 Fund Balance-Unreserved, Undes 1.00
221-07-31103891 Miscellaneous Income 1.00
224-00-00001342 Fund Balance-Unreserved, Undes 1. 00
224-03-17015311 General supplies and materials 1.00
791-00-00001342 Fund Balance-Unreserved, Undes 1.00
791-00-00003891 Miscellaneous Income 1.00
326-00-00001342 Fund Balance-Unreserved, Undes 1.00
326-00-00003611 Interest revenues 1.00
411-00-00001342 Fund Balance-Unreserved, Undes 1.00
411-00-00003611 Interest revenues 1.00
541-04-42105311 General supplies and materials 1.00
541-00-00001336 Retained Earnings-Unreserved 1.00
546-00-00001336 Retained Earnings-Unreserved 2.00
546-00-00003891 Miscellaneous Income 2.00
552-00-00001342 Fund Balance-Unreserved, Undes 1.00
552-08-11015213 O~her Technical Services 1.00
571-00-00001342 Fund Balance-Unreserved, Undes 1.00
571-06-14623891 Miscellaneous Income 1.00
542-00-00001336 Retained Earnings-Unreserved 1.00
542-04-41105311 General supplies and materials 1.00
577-00-00001336 Retained Earnings-Unreserved 1.00
577-00-00003891 Miscellaneous Income 1.00
621-00-00001336 Retained Earnings-Unreserved 1. 00
621-00-00003499 Other Charges for Service 1.00
611-00-00001342 Fund Balance-Unreserved, Undes 2.00
611-03-92105311 General supplies and materials 2.00
631-00-00001336 Retained Earnings-Unreserved 1.00
631-61-11405841 Issuance costs 1.00
274-00-00001342 Fund Balance-Unreserved, Undes 1.00
274-03-41105311 General supplies and materials 1.00
511-00-00001342 Fund Balance-Unreserved, Undes 2.00
511-04-34105213 Other Technical Services 2.00
551-00-00001342 Fund Balance-Unreserved, Undes 1.00
551-08-11 013891 Miscellaneous Income 1.00
761-00-00001342 Fund Balance-Unreserved, Undes 1.00
761-00-00003611 Interest revenues 1.00
762-00-00001342 Fund Balance-Unreserved, Undes 3.00
762-00-00003891 Miscellaneous Income 3.00
Fund Balance Adjustments
AJE 3 Posted 271-00-00001212 Accounts Payable 88,608.00
271-04-16105312 Electricity 88,608.00
276-00-00001212 Accounts Payable 78,573.00
276-04-16105312 Electricity 78,573.00
324-00-00001212 Accounts Payable 116,142.00
324-04-11105414 Storm Drainage 116,142.00
101-00-00001212 AP - Accrued Expenses-General 114,105.00
101-00-00003891 Tax Commissioner-Other Revenue 114,105.00
274-00-00001212 AP - Accrued Expenses-General 6,054.00
274-10-11106011 Contingency 6,054.00
323-00-00001212 AP - Accrued Expenses-General 106,245.00
323-00-00003611 Interest revenues 106,245.00
To adjust A/P per client ajes
12/21/2006 12:25PM
Entry ..! Status
AJE 4 PO:3ted
AJE
5 Posted
AJE
6 Posted
AJE
7 Posted
AJE
8 Posted
AJE
9 Posted
AJE 10 Posted
AUGUSTA-RICHMOND COUNTY
Journal Entries Report : Adjusting Entries
December 31, 2005
Account/Code Description
274-00-00003341 Local Emergency Operation Plan
274-00-00001228 Donations
Donated funds earmarked for specific purpose
not compoletely spent and need remainder for
2006.
541-00-00001232 2C Closure & Post Closure Liab
541-04-42105432 2C Clsoure and Post Closure Cost
To adjust/correct 2A, 2B and 2C Closure,
Post Closure Liability.
541-00-00001232 2A & 2B Post Closure Liability
541-04-42105111 Perm Full-Time S&W-Regular
541-04-42105223 R & M - Equipment
541-04-42105212 Other Professional Services
541-04-42105212 Legal
To adjust 2A and 2B 2005 Post Closure
expenditures to the liability.
101-01-64101134 Inventory-Postage
101-01-64101134 Inventory-Postage
101-01-64105731 Inventory Writeoff
101-01-51701135 Inventories-Stores For Resale
101-01-51701135 Inventories-Stores For Resale
101-01-51705731 Inventory Writeoff
101-01-64101134 Inv - Materials & Supplies
101-01-64101134 Inv - Materials & Supplies
101-01-64105731 Inventory Writeoff
101-00-00001341 Fund Balance-Reserved For Inve
101-00-00001341 Fund Balance-Reserved For Inve
101-00-00001342 Fund Balance-Unreserved, Undes
To adjust inventory to physical count.
101-00-00001119 Accounts Receivable
101-00-00003891 Tax Commissioner-Other Revenue
216-00-00001119 Accounts Receivable
216-00-00003425 E911 charges
273-00-00001119 Accounts Receivable
273-00-00003891 Miscellaneous Income
To adjust year end AIR balances.
101-00-00001111 Consolidated Cash
101-00-00001116 Taxes Receivable-Delinquent
273-00-00001111 Consolidated Cash
273-00-00001116 Taxes Receivable-Delinquent
To adjust delinquent taxes receivable
between funds 101 and 273.
101-00-00001111 Consolidated Cash
101-00-00001131 Due From Other Funds
101-00-00001111 Consolidated Cash
101-00-00001131 Due From Other Funds
To reclassify consolidated cash owed to the
General Fund.
Debit
17,840.00
570,921.00
143,576.00
30,129.00
87,502.00
9,886.00
13,481.00
11,286.00
4,543.00
103,014.00
101,778.00
65,836.00
245,773.00
327,805.00
327,805.00
13,198,332.00
115,841.00
Page: 2
Prepared by: TM
Reviewed by:
Credit
17,840.00
570,921.00
27,300.00
281. 00
41,316.00
74,679.00
117,631.00
23,367.00
15,829.00
58,741. 00
44,273.00
101,778.00
65,836.00
245,773.00
327,805.00
327,805.00
13,198,332.00
115,841.00
12/21/2006 12:25PM
AUGUSTA-RICHMOND COUNTY
Journal Entries Report : Adjusting Entries
December 31, 2005
Entry Jt Status
AJE 11 Posted
AJE 12 Posted
Account/Code
101-00-00001224
101-00-00003111
273-00-00003111
273-00-00001224
271-00-00003111
271-00-00001224
272-00-00003111
272-00-00001224
274-00-00003111
274-00-00001224
411-00-00001224
411-00-00003111
412-00-00001224
412-00-00003111
Description
Deferred Items-Misc.
Real Property Tax-Curr Year
Real Property Tax-Curr Year
Deferred Items-Misc.
Real Property Tax-Curr Year
Deferred Items-Misc.
Real Property Tax-Curr Year
Deferred Items-Misc.
Real Property Tax-Curr Year
Deferred Items-Misc.
Deferred Items-Misc.
Real Property Tax-Curr Year
Deferred Items-Misc.
Real Property Tax-Curr Year
To adjust deferred revenue at 12.31.2005.
101-10-11105123 1977 Pension Plan
101-00-00001212 AP - Accrued Expenses-General
216-03-71105123 1977 Pension Plan
216-00-00001212 AP - Accrued Expenses-General
217-07-22105123 1977 Pension Plan
217-00-00001212 AP - Accrued Expenses-General
221-07-31105123 1977 Pension Plan
221-00-00001212 AP - Accrued Expenses-General
273-10-11105123 1977 Pension Plan
273-00-00001212 AP - Accrued Expenses-General
274-03-52105123 1977 Pension Plan
274-00-00001212 AP - Accrued Expenses-General
324-04-11975123 1977 Pension Plan
324-00-00001212 AP - Accrued Expenses-General
506-10-11105123 1977 Pension Plan
506-00-00001212 AP - Accrued Expenses-General
541-04-42105123 1977 Pension Plan
541-00-00001212 AP - Accrued Expenses-General
546-09-11125123 1977 Pension Plan
546-00-00001212 AP - Accrued Expenses-General
551-10-11105123 1977 Pension Plan
551-00-00001212 AP - Accrued Expenses-General
552-08-11015123 1977 Pension Plan
552-00-00001212 AP - Accrued Expenses-General
566-06-14515123 1977 Pension Plan
566-00-00001212 AP - Accrued Expenses-General
101-10-11105123 1977 Pension Plan
101-00-00001212 AP - Accrued Expenses-General
101-10-11105123 1945 Pension Plan
101-00-00001212 AP - Accrued Expenses-General
To accrue additional contribution necessary
for pension plans
Page: 3
Prepared by: TM
Reviewed by:
Debit Credit
171,619.00
171,619.00
658,384.00
658,384.00
361,217.00
361,217.00
86,628.00
86,628.00
69,228.00
69,228.00
2,655.00
2,655.00
3,674.00
3,674.00
98,045.00
98,045.00
4,377.00
4,377.00
3,069.00
3,069.00
2,095.00
2,095.00
106,804.00
106,804.00
31,915.00
31,915.00
4,467.00
4,467.00
16,625.00
16,625.00
958.00
958.00
1,755.00
1,755.00
6,551.00
6,551.00
1,723.00
1,723.00
757.00
757.00
3,279.00
3,279.00
361,352.00
361,352.00
12/21/2006 12:25PM
Entry f Status
AJE 13 Posted
AJE 14 Posted
AJE 15 Posted
AJE 16 Posted
Account/Code
--
506-04-31105111
506-04-32105111
506-04-32105111
506-04-35105111
506-04-34105111
506-04-35305111
506-04-35405111
506-00-00001212
541-04-42105111
541-00-00001212
542-04-41105111
542-00-00001212
546-09-11105111
546-09-11115111
546-09-11125111
546-09-11135111
546-09-11145111
546-09-11155111
546-09-11165111
546-09-11205111
546-00-00001212
551-08-11015111
551-08-11025111
551-08-11035111
551-08-11045111
551-08-11055111
551-08-11065111
551-08-11075111
551-08-11085111
551-08-11095111
551-08-11105111
551-08-11115111
551-00-00001212
552-08-11015111
552-00-00001212
566-06-14515111
566-00-00001212
571-06-14625111
571-00-00001212
577-06-14955111
577-00-00001212
611-01-52105111
611-00-00001212
626-01-64405111
626-00-00001212
901-00-00001192
901-00-00001212
AUGUSTA-RICHMOND COUNTY
Journal Entries Report : Adjusting Entries
December 31, 2005
Description
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regu]ar
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Accrued Vacation
Perm Full-Time S&W-Regular
Accrued Vacation
Perm Full-Time S&W-Regular
Accrued Vacation
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Accrued Vacation
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Perm Full-Time S&W-Regular
Accrued Vacation
Perm Full-Time S&W-Regular
Accrued Vacation
Perm Full-Time S&W-Regular
Accrued Vacation
Perm Full-Time S&W-Regular
Accrued Vacation
Perm Full-Time S&W-Regular
Accrued Vacation
Perm Full-Time S&W-Regular
Accrued Vacation
Perm Full-Time S&W-Regular
Accrued Vacation
Amount To Be Provided
Accrued Vacation
To adjust accrued vacation for Enterprise
funds.
101-04-17105422 Other Vehicles
101-00-00003935 Capital Lease Proceeds
273-03-13105422 Other Vehicles
273-00-00003935 Capital Lease Proceeds
626-01-64405422 Other Vehicles
626-00-00003935 Capital Lease Proceeds
541-04-42105899 Contra Capital Lease pymts
541-00-00005899 Contra Capital Lease Pmnts
541-00-00001254 Capital Leases Pay-Noncurrent
To record draws on capital leases for
governmental funds during the year ended
12.31.2005 and reclassify capital lease
activity on waste management funds.
541-04-42105224 Other Equip or Veh Rental
541-04-42105422 Heavy Equipment
To reclassify final lease payment and adjust
non-gma capital leases.
273-00-00001212 AP - Accrued Expenses-General
273-00-00001212 AP - Accrued Expenses-General
273-03-25105317 Medical-Contract
273-03-25115317 Medical-Contract
To adjust A/P balance in Fund 273 to agree
to detail listing.
Debit
74,023.00
72,147.00
107,004.00
12,527.00
47,128.00
13,253.00
8,170.00
18,369.00
4,321.00
14,186.00
15,479.00
15,308.00
1,124.00
2,972.00
23,921. 00
3,907.00
365.00
22,946.00
9,325.00
7,917.00
8,080.00
8,157.00
25,150.00
15,462.00
26,014.00
9,774.00
3,742.00
1,790.00
9,784.00
9,814.00
3,220.00
4,210.00
17,235.00
6,140.00
626,963.00
739,664.00
917,731.00
45,323.00
606,957.00
135,000.00
50,561.00
119,000.00
Page: 4
Prepared by: TM
Reviewed by:
Credit
334,252.00
18,369.00
4,321.00
77,262.00
138,357.00
9,784.00
9,814.00
3,220.00
4,210.00
17,235.00
6,140.00
626,963.00
739,664.00
917,731.00
45,323.00
198,324.00
408,633.00
135,000.00
50,561.00
119,000.00
12/21/2006 12:25PM
AUGUSTA-RICHMOND COUNTY
Journal Entries Report : Adjusting Entries
December 31, 2005
Page: 5
Prepared by: TM
Reviewed by:
Credit
Entry 11 Status
AJE 17 Posted
AJE 19 Posted
AJE 20 Posted
AJE 21 Posted
AJE 22 Posted
AJE 23 Posted
Account/Code
273-03-25105317
273-03-25115317
101-03-32115317
101-03-32135317
273-00-00001212
101-00-00001212
Description
Medical-Contract
Medical-Contract
Medical-Contract
Medical-Contract
AP - Accrued Expenses-General
AP - Accrued Expenses-General
To accrue invoice for services received in
2005 which was improperly excluded from A/P
at 12.31.2005.
277-00-00001119 Accounts Receivable
277-00-00001111 Other
277-00-00001224 Deferred Revenue
277-01-56135233 Other Expense
To adjust DDA cash balance.
541-00-00001254 Capital Leases Pay-Noncurrent
541-04-42105224 Other Equip or Veh Rental
To reclassify payments made on non-GMA
capital leases.
541-00-00001227 Capital Leases Payable-Current
541-00-00001253 Capital Leases - Non-GMA
To adjust current portion of capital leases
for Waste Management
101-01-17105424 Server
101-00-00003935 Capital Lease Proceeds
901-00-00001192 Amount To Be Provided
901-00-00001254 Capital Leases Pay-Noncurrent
901-00-00001192 Amount To Be Provided
901-00-00001254 Capital Leases Pay-Noncurrent
To record activity on capital leases for
governmental funds during the year ended
12.31. 2005
546-00-00001127 Inter Gov't - Due from Federal
546-09-12043313 Federal Transit Capital Asst
To record A/R related to federal assistance
payment earned by County during 3rd quarter
of 2005.
Debit
118,657.00
142,388.00
25,215.00
10,382.00
95,527.00
95,527.00
337,359.00
115,901.00
324,919.00
324,919.00
167,906.00
219,513.00
261,045.00
35,597.00
95,527.00
95,527.00
337,359.00
115,901.00
324,919.00
324,919.00
167,906.00
219,513.00
12/21/2006 12:25PM
Entry it Status
AJE 24 Posted
AJE 26 Posted
AJE 29 Posted
AJE 30 Posted
AJE 31 Posted
Account/Code
631-01-64403911
631-01-57103911
631-01-62133911
631-01-64203911
631-01-13103911
631-01-26103911
631-03-12103911
631-03-12213911
631-03-12223911
631-03-13103911
631-03-21103911
631-03-23103911
631-03-25103911
631-03-32113911
631-03-61103911
631-03-99103911
631-03-92103911
631-04-11103911
631-04-12603911
631-04-17103911
631-06-11103911
631-06-24113911
631-06-31103911
631-00-00001111
272-11-11106111
272-11-11106111
631-01-64403911
631-00-00001111
272-00-00001111
AUGUSTA-RICHMOND COUNTY
Journal Entries Report : Adjusting Entries
December 31, 2005
Description
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Operating Transfer from Capital
Operating Transfer from Capital
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr From Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Op Tsfr from Capital Outlay
Consolidated Cash
GMA Lease Program
GMA Lease Program
Op Tsfr from Capital Outlay
Consolidated Cash
Consolidated Cash
Outlay
Outlay
To adjust transfers from funds to GMA lease
internal service fund.
551-00-00001151 Bond Issuance Cost
551-08-11015211 Management Consultants
551-00-00001217 Intergovernmental Payable
551-08-11013492 Airline Security
551-00-00001119 A/R-Credit Cards
551-08-11013492 Parking Revenue
551-08-11015212 Legal
551-08-11015311 Special Events
551-08-11015731 Bad Debt Expense
551-08-11015311 Special Events
PBC entry for Bush Field
000-00-00001111 Concentration Acct - BankofArn
543-00-00001162 Sinking Fund Account
543-00-00001162 Sinking Fund Account
541-61-11305811 Bonds - Prin
541-61-11305821 Bonds - Interest
541-11-11106111 Transfer to Waste Management 543
000-00-00001111 Concentration Acct - BankofArn
543-00-00001162 Sinking Fund Account
543-00-00003911 Transfer from from Waste Management 541
543-00-00001226 Revenue Bonds Pay - Current
543-61-11305821 Bonds - Interest
543-00-00001162 Sinking Fund Account
543-00-00001226 Revenue Bonds Payable
543-00-00001226 Revenue Bonds Pay - Current
To adjust bond payable in Waste Management.
543-04-42105499 Contra Capital Expense (Cap)
541-00-00001176 Construction In Progress
543-00-00001176 Construction In Progress
543-04-42105499 Contra Capital Expense (Cap)
543-00-00001111 Consolidated Cash
541-00-00001111 Consolidated Cash
To adjust Waste Management Fixed Assets.
221-00-00001224 Deferred Revenue
221-00-00003891 Program Income - HND
To adjust program income and deferred
revenue for payments received on mortgages
receivable during 2005.
Debit
666,069.00
10,947.00
1,411.00
2,092.00
346.00
5,088.00
4,489.00
381.00
620.00
2,387.00
1,195.00
3,303.00
756.00
10,127.00
395.00
417.00
1,415.00
31,342.00
20,319.00
15,342.00
2,226.00
15,108.00
15,108.00
753,465.00
44,000.00
39,000.00
19,415.00
5,705.00
42,770.00
1,629,747.00
1,629,747.00
1,629,747.00
1,629,747.00
1,445,000.00
184,747.00
1,490,000.00
3,961,106.00
3,961,106.00
3,961,106.00
264,312.00
Page: 6
Prepared by: TM
Reviewed by:
Credit
10,863.00
1,231. 00
768,573.00
768,573.00
15,108.00
44,000.00
39,000.00
19,415.00
5,705.00
42,770.00
1,629,747.00
1,445,000.00
184,747.00
1,629,747.00
1,629,747.00
1,629,747.00
1,490,000.00
3,961,106.00
3,961,106.00
3,961,106.00
264,312.00
12/21/2006 12:25PM
Entry Jt Status
AJE 32 Posted
AJE 33 Posted
AJE 34 Posted
AJE 35 Posted
AJE 36 Posted
AJE 37 Posted
AUGUSTA-RICHMOND COUNTY
Journal Entries Report : Adjusting Entries
December 31, 2005
Account/Code Description
221-00-00003931 Loan Proceeds
221-07-31105823 Section 108 P.I. Loan Disbursements
To record revenue and expense related to
Partridge Inn note receivable and HUD note
payable.
543-61-11305841 Issuance costs
543-00-00001151 Bond Issuance Cost
To record amortization of bond issuance
costs for 2005.
901-00-00001192 Amount To Be Provided
901-00-00001254 GMA Leases
To adjust GMA Capital Leases to amortization
schedule.
104-00-00001341 Fund Balance-Reserved For Inve
104-00-00001342 Fund Balance-Unreserved, Undes
101-00-00001341 Fund Balance-Reserved For Inve
101-00-00001342 Fund Balance-Unreserved, Undes
273-00-00001341 Fund Balance - Reserved for Inventory/Prepaid
273-00-00001342 Fund Balance-Unreserved, Undes
To adjust the reserve for prepaid items and
inventory in governmental funds.
506-00-00001311 Investment In Gen Fixed Asset
506-00-00001336 Retained Earnings-Unreserved
508-00-00001311 Investment In Gen Fixed Asset
508-00-00001336 Retained Earnings-Unreserved
551-00-00001329 Investmnt in Capital Asset-net
551-00-00001342 Fund Balance-Unreserved, Undes
541-00-00001329 Investmnt in Capital Asset-net
541-00-00001342 Fund Balance-Unreserved, Undes
566-00-00001336 Retained Earnings-Unreserved
566-00-00001329 lnvestmnt in Capital Asset-net
546-00-00001336 Retained Earnings-Unreserved
546-00-00001329 Investmnt in Capital Asset-net
552-00-00001336 Retained Earnings-Unreserved
552-00-00001329 Investmnt in Capital Asset-net
611-00-00001329 Investmnt in Capital Asset-net
611-00-00001336 Retained Earnings-Unreserved
626-00-00001329 Investmnt in Capital Asset-net
626-00-00001336 Retained Earnings-Unreserved
506-00-00001341 FB-Reserved for Extraord Loss
506-00-00001336 Retained Earnings-Unreserved
506-00-00001311 Investment In Gen Fixed Asset
551-00-00001349 Fund Balance - Other
551-00-00001342 Fund Balance-Unreserved, Undes
541-00-00001329 Investmnt in Capital Asset-net
541-00-00001342 Fund Balance-Unreserved, Undes
541-00-00001319 Retained Earnings - Restricted
To adjust enterprise and internal service
funds' investment in
capital assets, net of related debt, to
actual.
546-00-00001127 Inter Gov't - Due from State
101-00-00001119 Accounts Receivable
101-00-00003435 State Road Maintenance Fees
101-00-00003891 Tax Commissioner-Other Revenue
546-00-00001127 Inter Gov't - Due from State
546-00-00003313 Federal Transit Capital Asst
546-00-00001111 Consolidated Cash
101-00-00001111 Consolidated Cash
To adjust credit balance in Transit
Intergovernmental transfer.
Debit
2,500,000.00
21,368.00
986,311.00
24,456.00
358,969.00
3,419.00
41,585,597.00
105,876.00
8,119,049.00
491,988.00
35,167.00
416,477.00
157,794.00
99,056.00
10,693.00
3,408.00
9,036,507.00
1,378,932.00
118,912.00
74,254.00
118,912.00
Page: 7
Prepared by: TM
Reviewed by:
Credit
2,500,000.00
21,368.00
986,311.00
24,456.00
358,969.00
3,419.00
41,585,597.00
105,876.00
8,119,049.00
491,988.00
35,167.00
416,477.00
157,794.00
99,056.00
10,693.00
3,407.00
1.00
9,036,507.00
1,373,726.00
5,206.00
33,975.00
16,987.00
67,950.00
74,254.00
118,912.00
12/21/2006 12:25PM
Entry 11 Status
AJE 38 Posted
AJE 39 Posted
TOTALS
Account/Code
506-04-31105223
506-04-31105611
551-08-11065223
551-08-11015611
AUGUSTA-RICHMOND COUNTY
Journal Entries Report : Adjusting Entries
December 31, 2005
Description
Repairs and maintenar.ce
Depreciation
Repairs and maintenance
Depreciation
To adjust propietary accounts.
277-00-00001342 Fund Balance-Unreserved, Undes
277-01-56135233 Other Expense
To adjust beginning fund balance in Downtown
Development, so as to have beginning fund
balance for total governmental funds to
agree to PY report. Amount Immaterial for
separate disclosure
Debit
3.00
2.00
80,378.00
Page: 8
Prepared by: TM
Reviewed by:
Credit
3.00
2.00
80,378.00
113,309,615.00 113,309,615.00
Summary of Audit Differences
Attachment - Governmental
Client: Augusta-Richmond County
Governmental Activities
Year End: December 31, 2005
2
Effect of Current Year Differences
Journal entry needed to correct misstatement - Dr. (Cr.)
Liabilities Equity Revenue
Fund
101
101
276
Account Name
Assets
(56,850)
(211,343)
nse related to fiscal year 2005, fJaid subsequent to year end.
( 186,427)
nses related to fiscal year 2005, paid subsequent to year end.
5 221 CDBG
221 Emer en Shelter Grant
221
221
221
221
221 293,520
101
101
101
101
101
101
101 77,435
224
224 (12,691)
274
274 Accounts Receivable 40,893
Passed en to reconcile Schedule of Ex enditures of Federal Awards to General Ledger
(83,309)
10,485
(246,500)
(22,876)
79,754
(31,074)
(63,298)
149
23,690
(109,828)
(2,028)
73,880
12,691
(40,893)
Expense
56,850
211,343
186,427
6 101 IDC Recove 28,316
101 Due to Other Funds (28,316)
108 Local Law Enforcement Block Grant V 234,837
108 Interest Revenue 6,858
108 Due to Federal Gov't (241,695)
109 Due to Other Funds (905)
109 Due to Federal Gov't (8,162)
109 Deferred Revenue 4,796
109 Local Law Enforcement Block Grant V 4,271
221 HOME Revenue 50,664
221 CDBG Revenue 25,773
221 Deferred Revenue (76,437)
Passed entry to record Questioned Costs related to testing of grant programs.
I
Subtotals 411,848 (818,030) (48,438) 454,620
Net effect of current year differences 411,848 (818,030) (48,438) 454,620
Net effect of prior year differences 71,613 (71,613)
Net effect on financial statements 411,848 (818,030) 71,613 (120,051 ) 454,620
Financial statement totals 475,650,841 (50,070,603) (425,580,238) (188,072,887) 162,659,275
% of differences to financial statement totals 0.1 % 1.6% (0.0)% 0.1 % 0.3 %
Summary of Audit Differences
Attachment - Business-type
Client: Augusta-Richmond County
Business-type
Year End: December 31, 2005
4 178,158
(178,158)
rtion of the water lIution plant project due as of year-end.
Fund
506
Effect of Current Year Differences
Journal entry needed to correct misstatement. Dr. (Cr.)
Assets Liabilities Equity Revenue Expense
64,016
(64,016)
nse related to fiscal year 2005, paid subsequent to year end.
3
210,000
(210,000)
nses related to fiscal year 2005, paid subsequent to year end.
5
546 Federal Transit Ca ital Asst.
546 Deferred Revenue
551 Fed 0 Grt - Ca ital-Dir-FAA
551 Accounts Receivable
Passed ent to reconcile Schedule of Ex
454,535
(454,535)
(123,031)
123,031
nditures of Federal Awards to General Ledger
6 551 IDC Recove
551 Due from Other Funds 27,810
552 IDC Recove
552 Due from Other Funds 506
Passed en to record Questioned Costs related to testing of grant programs.
(27,810)
(506)
7 506 Bond Interest
506 Accrued Interest Pa ble
Passed en to correct over-accrual of interest.
(1,286,475)
1,286,475
Subtotals 151,347 379,766 303,188 (834,301 )
Net effect of current year differences 151,347 379,766 303,188 (834,301 )
Net effect of prior year differences
Net effect on financial statements 151,347 379,766 303,188 (834,301)
Financial statement totals 749,407,849 (533,663,199) (215,744,650) (106,244,900) 93,039,393
% of differences to financial statement totals 0.0% (0.1)% 0.0% (0.3)% (0.9)%