STATE OF MISSISSIPPI OFFICE OF THE STATE AUDITOR PHIL BRYANT State Auditor RAMONA HILL, CPA Director, Financial and Compliance Audit Division BRENT BALLARD, CPA Director, Education Audit Section SUNFLOWER COUNTY SCHOOL DISTRICT Audited Financial Statements For the Year Ended June 30, 1997 SUNFLOWER COUNTY SCHOOL DISTRICT TABLE OF CONTENTS FINANCIAL AUDIT REPORT 1 Independent Auditor's Report on The General Purpose Financial Statements and Supplemental Information 3 GENERAL PURPOSE FINANCIAL STATEMENTS 5 Combined Balance Sheet - All Fund Types and Account Groups 6 Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - All Governmental Fund Types and Expendable Trust Funds 8 Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - All Governmental Fund Types 10 Combined Statement of Revenues, Expenses, and Changes in Fund Balances - Nonexpendable Trust Funds 12 Combined Statement of Cash Flows - Nonexpendable Trust Funds 13 Notes to Financial Statements 14 SUPPLEMENTAL INFORMATION 25 Schedule of Expenditures of Federal Awards 26 REPORTS ON COMPLIANCE AND INTERNAL CONTROL 27 Independent Auditor's Report on Compliance and Internal Control over Financial Reporting Based on an Audit of the General Purpose Financial Statements Performed in Accordance with Government Auditing Standards 29 Independent Auditor's Report on Compliance with Requirements Applicable to each Major Federal Program and Internal Control over Compliance in Accordance with OMB Circular A-133 31 INDEPENDENT AUDITOR=S REPORT ON COMPLIANCE WITH STATE LAWS AND REGULATIONS 33 Independent Auditor's Report on Compliance with State Laws and Regulations 35 SCHEDULE OF FINDINGS AND QUESTIONED COSTS 37 3750 I-55 NORTH FRONTAGE ROAD $ JACKSON, MISSISSIPPI 39211 $ (601) 364-2888 $ FAX (601) 364-2828 The Office of the State Auditor does not discriminate on the basis of race, religion, national origin, sex, age or disability 1 SUNFLOWER COUNTY SCHOOL DISTRICT FINANCIAL AUDIT REPORT 2 SUNFLOWER COUNTY SCHOOL DISTRICT (This page left blank intentionally) 3 OFFICE OF THE STATE AUDITOR PHIL BRYANT AUDITOR INDEPENDENT AUDITOR'S REPORT ON THE GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION May 20, 1998 Superintendent and School Board Sunflower County School District We have audited the general purpose financial statements of the Sunflower County School District as of and for the year ended June 30, 1997, as listed in the table of contents. These general purpose financial statements are the responsibility of the Sunflower County School District's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. 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 financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. The school district did not maintain adequate subsidiary records documenting the existence, completeness and valuation of the buildings and equipment included in the General Fixed Assets Account Group. Due to the nature of the school district records, we were unable to satisfy ourselves as to the fair presentation of buildings and equipment, reported at $7,167,548 as of June 30, 1997. In our opinion, except for the effects of such adjustments, if any, as might have been determined to be necessary had we been able to examine adequate buildings and equipment subsidiary records, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Sunflower County School District as of June 30, 1997, and the results of its operations and the cash flows of its Nonexpendable Trust Funds for the year then ended in conformity with generally accepted accounting principles. In accordance with Government Auditing Standards, we have also issued our report dated May 20, 1998 on our consideration of the Sunflower County School District's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. 4 Our audit was performed for the purpose of forming an opinion on the general purpose financial statements 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-133 and is not a required part of the general purpose financial statements. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated, in all material respects, in relation to the general purpose financial statements taken as a whole. PHIL BRYANT RAMONA HILL, CPA State Auditor Director, Financial and Compliance Audit Division 5 SUNFLOWER COUNTY SCHOOL DISTRICT GENERAL PURPOSE FINANCIAL STATEMENTS 6 SUNFLOWER COUNTY SCHOOL DISTRICT Exhibit A Combined Balance Sheet - All Fund Types and Account Groups June 30, 1997 Fiduciary Governmental Fund Types Fund Types Account Groups General General Total Special Capital Debt Trust and Fixed Long-term (Memorandum General Revenue Projects Service Agency Assets Debt Only) Assets Cash and other deposits (Note 2) $ 336,469 34,856 5,240 100,068 739,341 1,215,974 Due from local sources 29,837 2,709 32,546 Due from state sources 13,778 63,252 77,030 Due from federal sources 204,215 204,215 Other receivables 47,842 47,842 Due from other funds (Note 3) 296,347 269,061 2,434 567,842 Inventories: Food 4,230 4,230 Donated commodities 2,242 2,242 Buildings and equipment (Note 4) 7,167,548 7,167,548 Transportation equipment (Note 4) 1,023,382 1,023,382 Other motor equipment (Note 4) 121,213 121,213 Amount available in debt service fund 102,777 102,777 Amount to be provided for retirement of general long-term debt 418,083 418,083 Total Assets $ 676,431 577,856 5,240 105,211 787,183 8,312,143 520,860 10,984,924 Liabilities & Fund Equity Liabilities: Accrued payroll $ 250,013 250,013 Salary withholdings and benefits payable 49,077 49,077 Due to student clubs 441 441 Due to other funds (Note 3) 157,006 383,039 20,000 2,434 5,363 567,842 Deferred revenue 1,054 1,054 Building purpose loans payable (Note 5) 100,000 100,000 Other loans payable (Note 5) 330,000 330,000 Compensated absences payable (Note 5) 90,860 90,860 Total Liabilities 157,006 384,093 20,000 2,434 304,894 520,860 1,389,287 This is trial version www.adultpdf.com . STATE OF MISSISSIPPI OFFICE OF THE STATE AUDITOR PHIL BRYANT State Auditor RAMONA HILL, CPA Director, Financial and Compliance Audit Division BRENT BALLARD, CPA Director, Education Audit Section SUNFLOWER. intentionally) 3 OFFICE OF THE STATE AUDITOR PHIL BRYANT AUDITOR INDEPENDENT AUDITOR& apos;S REPORT ON THE GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION May 20, 1998 Superintendent and. respects, in relation to the general purpose financial statements taken as a whole. PHIL BRYANT RAMONA HILL, CPA State Auditor Director, Financial and Compliance Audit Division 5 SUNFLOWER COUNTY