INTERNAL SERVICE FUNDS

197

Fund 710 Workers’ Compensation Fund

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

Fy 06 Actual Fy 07 Actual Fy 08 Actual Fy 09 Modified Fy 10Adopted

Fund 710 Revenue vs Expenses

RevenueExpenses

The Workers’ Compensation Fund (fund 710) is an internal service fund. Internal service funds are used to account for services furnished by a designated department to other departments within the School District. Most transactions between internal service funds and other funds take the form of quasi-external transactions. That is to say, the funds receiving the goods and services report an expense or expenditure, while the internal service fund reports revenue. The practical consequence of this approach is the duplicating of expenses / expenditures within the financial reporting entity. The Workers’ Compensation Fund was established to account for the self-insured workers’ compensation claims activity of the Board of Education. Estimated expenses for Fiscal Year 2010 are budgeted at $1,266,648. Revenues are projected at $1,267,648.

198

FY 2006Actual

Amount

FY 2007Actual

Amount

FY 2008 ActualAmount

%ChangeFY 2009 to

FY 2010

EXPENDITURES AND OTHER USES

Workers' Compensation FundFY 2009ModifiedBudget

Fund 710FY 2010 AdoptedBudget

REVENUES AND OTHER SOURCESOTHER LOCAL SOURCES

1250 OTHER 1,050,345 14.9%635,635 1,267,0601,102,659606,090

1500 INTEREST INCOME 54,965 N/A93,207 00104,009

2130 OTHER LOCAL INCOME 0 N/A0 008,463

TOTAL OTHER LOCAL SOURCES 1,105,310 14.91%728,842 1,267,0601,102,659718,562

TOTAL REVENUES 1,105,310 14.91%728,842 1,267,0601,102,659718,562

103,608 111,914 152,73910 Base Salary 36.5%103,51797,937

338 10,000 10,00011 Other Salary 0.0%3,466896

103,946 121,914 162,739Total Salaries 33.5%106,98398,833

18,193 31,832 45,19720 Fringe Benefits 42.0%19,67418,322

18,193 31,832 45,197Total Benefits 42.0%19,67418,322

2,010,395 1,011,913 1,039,80030 Purchased Services 2.8%492,4451,009,561

10,451 28,000 13,91240 Supplies -50.3%12,5559,913

5,919 9,000 5,00050 Equipment -44.4%1,1350

2,026,765 1,048,913 1,058,712Total Other Operating Expenses 0.9%506,1341,019,474

TOTAL EXPENDITURES 5.3%1,136,629 632,791 2,148,904 1,202,659 1,266,648

STAFFING2.0 2.0 2.0 50.0%2.0STAFFING TOTALS 3.0

199

Fund 720 Unemployment Compensation Fund

$-

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

Fy 06 Actual Fy 07 Actual Fy 08 Actual Fy 09 Modified Fy 10Adopted

Fund 720 Revenue and Expenses

RevenueExpenses

The Unemployment Compensation Fund (fund 720) is an internal service fund. Internal service funds are used to account for services furnished by a designated department to other departments within the School District. Most transactions between internal service funds and other funds take the form of quasi-external transactions. That is to say, the funds receiving the goods and services report an expense or expenditure, while the internal service fund reports revenue. The practical consequence of this approach is the duplicating of expenses / expenditures within the financial reporting entity. The Unemployment Compensation Fund (fund 720) was established to account for the self-insured unemployment compensation claims activity of the Board of Education. Estimated expenses for Fiscal Year 2010 are budgeted at $150,300. Estimated revenues for Fiscal Year 2010 are projected at $150,300.

200

FY 2006Actual

Amount

FY 2007Actual

Amount

FY 2008 ActualAmount

%ChangeFY 2009 to

FY 2010

EXPENDITURES AND OTHER USES

Unemployment Compensation FundFY 2009ModifiedBudget

Fund 720FY 2010 AdoptedBudget

REVENUES AND OTHER SOURCESOTHER LOCAL SOURCES

1250 OTHER 88,342 N/A20 150,300012

1500 INTEREST INCOME 5,027 N/A9,630 009,554

TOTAL OTHER LOCAL SOURCES 93,369 N/A9,649 150,30009,566

TOTAL REVENUES 93,369 N/A9,649 150,30009,566

52,204 135,000 150,00030 Purchased Services 11.1%93,86736,689

20 300 30040 Supplies 0.0%00

52,224 135,300 150,300Total Other Operating Expenses 11.1%93,86736,689

TOTAL EXPENDITURES 11.1%36,689 93,867 52,224 135,300 150,300

STAFFING

201

Fund 731 Employee Dental Plan

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

Fy 06 Actual Fy 07 Actual Fy 08 Actual Fy 09 Modified Fy 10Adopted

Fund 731 Revenue vs Expenses

RevenueExpenses

The Employee Dental Plan Fund (fund 731) is an internal service fund. This self-supporting Direct Reimbursement Dental Plan for employees was created in FY 2007. Internal service funds are used to account for services furnished by a designated department to other departments within the School District. Most transactions between internal service funds and other funds take the form of quasi-external transactions. That is to say, the funds receiving the goods and services report an expense or expenditure, while the internal service fund reports revenue. The practical consequence of this approach is the duplicating of expenses / expenditures within the financial reporting entity. The Employee Dental Plan Fund was established to account for employee dental plan payments and claims activity. Estimated expenses for Fiscal Year 2010 are budgeted at $690,000.

202

FY 2006Actual

Amount

FY 2007Actual

Amount

FY 2008 ActualAmount

%ChangeFY 2009 to

FY 2010

EXPENDITURES AND OTHER USES

Employee Dental PlanFY 2009ModifiedBudget

Fund 731FY 2010 AdoptedBudget

REVENUES AND OTHER SOURCESTRANSFERS FROM OTHER FUNDS

9000 OPERATING TRFRS IN 50,000 N/A0 000

TOTAL TRANSFERS FROM OTHER FUNDS

50,000 N/A0 000

OTHER LOCAL SOURCES1250 OTHER 1,009,453 -22.5%489,904 690,000890,0000

2150 GATE RECEIPTS 779 N/A0 000

TOTAL OTHER LOCAL SOURCES 1,010,232 -22.47%489,904 690,000890,0000

TOTAL REVENUES 1,060,232 -22.47%489,904 690,000890,0000

902,872 890,000 690,00030 Purchased Services -22.5%372,0900

902,872 890,000 690,000Total Other Operating Expenses -22.5%372,0900

TOTAL EXPENDITURES -22.5%0 372,090 902,872 890,000 690,000

STAFFING

203

Fund 741 Liability Risk Pool

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

Fy 06 Actual Fy 07 Actual Fy 08 Actual Fy 09 Modified Fy 10Adopted

Fund 741 Revenue vs Expenses

RevenueExpenses

The School District is exposed to various risks of loss for claims associated with torts, theft of, damage to and destruction of assets, errors and omissions, natural disasters, and general liability losses. The Liability Risk Pool Fund (fund 741) is used to account for transactions relating to the District’s participation in the Risk Insurance Management System (RIMS). For FY 2010, revenues are budgeted at $2,000,000 and expenses are budgeted at $2,266,000. The Liability Risk Pool Fund (Fund 741) is an internal service fund. Internal service funds are used to account for services furnished by a designated department to other departments within the School District. Most transactions between internal service funds and other funds take the form of quasi-external transactions. That is to say, the funds receiving the goods and services report an expense or expenditure, while the internal service fund reports revenue. The practical consequence of this approach is the duplicating of expenses / expenditures within the financial reporting entity. On July 1, 1994, the District elected to become a member of the Georgia School Boards Association Risk & Management System (GSBA RIMS), an inter-local risk management agency created under Georgia law. Coverage for losses arising from certain liability and property risks to the School District is provided through a group self-insurance plan. For accounting purposes, this plan is considered to be a Risk Transfer Pool. Under the plan, the School District is responsible for the first $25,000 of each property loss. The plan assumes certain risks of the School District in excess of the stated retentions up to certain customary coverage limits. The School District is required to make a financial contribution to the plan each year in an amount that is determined on the basis of actuarial projections of losses.

204

FY 2006Actual

Amount

FY 2007Actual

Amount

FY 2008 ActualAmount

%ChangeFY 2009 to

FY 2010

EXPENDITURES AND OTHER USES

Liability Risk PoolFY 2009ModifiedBudget

Fund 741FY 2010 AdoptedBudget

REVENUES AND OTHER SOURCESTRANSFERS FROM OTHER FUNDS

9000 OPERATING TRFRS IN 2,250,000 0.0%1,365,000 2,000,0002,000,0001,065,000

TOTAL TRANSFERS FROM OTHER FUNDS

2,250,000 0.00%1,365,000 2,000,0002,000,0001,065,000

TOTAL REVENUES 2,250,000 0.00%1,365,000 2,000,0002,000,0001,065,000

700 0 011 Other Salary N/A00

700 0 0Total Salaries N/A00

56 0 020 Fringe Benefits N/A00

56 0 0Total Benefits N/A00

1,747,230 2,425,000 2,241,00030 Purchased Services -7.6%2,182,1351,161,929

325 20,000 20,00031 Utilities 0.0%9111,135

0 5,000 5,00040 Supplies 0.0%00

1,747,555 2,450,000 2,266,000Total Other Operating Expenses -7.5%2,183,0461,163,064

TOTAL EXPENDITURES -7.5%1,163,064 2,183,046 1,748,312 2,450,000 2,266,000

STAFFING

205

206