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 SENATOBIA MUNICIPAL SCHOOL DISTRICT Audited Financial Statements For the Year Ended June 30, 1997 SENATOBIA MUNICIPAL 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 Notes to Financial Statements 12 SUPPLEMENTAL INFORMATION 21 Schedule of Expenditures of Federal Awards 22 REPORTS ON COMPLIANCE AND INTERNAL CONTROL 25 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 27 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 29 INDEPENDENT AUDITOR=S REPORT ON COMPLIANCE WITH STATE LAWS AND REGULATIONS 31 Independent Auditor's Report on Compliance with State Laws and Regulations 33 SCHEDULE OF FINDINGS AND QUESTIONED COSTS 35 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 SENATOBIA MUNICIPAL SCHOOL DISTRICT FINANCIAL AUDIT REPORT 2 SENATOBIA MUNICIPAL 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 August 26, 1998 Superintendent and School Board Senatobia Municipal School District We have audited the general purpose financial statements of the Senatobia Municipal 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 Senatobia Municipal School District's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. 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. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Senatobia Municipal School District as of June 30, 1997, and the results of its operations 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 August 26, 1998 on our consideration of the Senatobia Municipal 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 SENATOBIA MUNICIPAL SCHOOL DISTRICT GENERAL PURPOSE FINANCIAL STATEMENTS 6 SENATOBIA MUNICIPAL 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) $ 755,322 201,834 288,030 39,487 373,551 1,658,224 Due from local sources 27,696 1,089 3,763 32,548 Due from state sources 19,842 28,906 86,000 134,748 Due from federal sources 858 46,218 47,076 Accrued interest receivable 2,366 2,366 Due from other funds (Note 3) 152,808 152,808 Inventories: Food 4,145 4,145 Donated commodities 4,248 4,248 Land (Note 4) 64,924 64,924 Buildings (Note 4) 4,149,470 4,149,470 Improvements other than buildings (Note 4) 138,815 138,815 Mobile equipment (Note 4) 519,700 519,700 Furniture and equipment (Note 4) 604,921 604,921 Leased property under capital lease (Note 4) 505,100 505,100 Construction in progress (Note 4) 71,103 71,103 Amount available in debt service fund 43,250 43,250 Amount to be provided for retirement of general long-term debt 2,322,011 2,322,011 Total Assets $ 958,892 286,440 374,030 43,250 373,551 6,054,033 2,365,261 10,455,457 Liabilities & Fund Equity Liabilities: Accrued payroll $ 194,501 194,501 Salary benefits and withholdings payable 140,913 140,913 Due to student clubs 6,515 6,515 Due to other funds (Note 3) 66,808 86,000 152,808 Deferred revenue 4,248 4,248 Other payables 13,643 13,643 Building purpose loans payable (Note 5) 800,000 800,000 Obligations under capital lease (Note 5) 410,100 410,100 General obligation bonds payable (Note 5) 1,025,000 1,025,000 Compensated absences payable (Note 5) 130,161 130,161 Total Liabilities 13,643 71,056 86,000 341,929 2,365,261 2,877,889 This is trial version www.adultpdf.com [...]... 31,622 31,622 288,030 43,250 4,145 288,030 43,250 4,145 945,249 945,249 $ 211,239 215,384 288,030 43,250 31,622 6,054,033 958,892 286,440 374,030 43,250 373,551 6,054,033 The notes to the financial statements are an integral part of this statement This is trial version www.adultpdf.com 7 1,156,488 7,577,568 2,365,261 10,455,457 . STATE OF MISSISSIPPI OFFICE OF THE STATE AUDITOR PHIL BRYANT State Auditor RAMONA HILL, CPA Director, Financial and Compliance Audit. 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,. 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 August