STATE OF MISSISSIPPI OFFICE OF THE STATE AUDITO_part1 pot

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
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SENATOBIA MUNICIPAL SCHOOL DISTRICT
FINANCIAL AUDIT REPORT
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SENATOBIA MUNICIPAL SCHOOL DISTRICT
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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.
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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
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SENATOBIA MUNICIPAL SCHOOL DISTRICT
GENERAL PURPOSE FINANCIAL STATEMENTS
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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
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Fund Equity:
Investment in general fixed assets 6,054,033 6,054,033
Fund balances
Reserved for:
Unemployment benefits 31,622 31,622
Capital improvements 288,030 288,030
Debt service 43,250 43,250
Inventory 4,145 4,145
Unreserved:
Undesignated 945,249 211,239 1,156,488
Total Fund Equity 945,249 215,384 288,030 43,250 31,622 6,054,033 7,577,568
Total Liabilities and Fund Equity $ 958,892 286,440 374,030 43,250 373,551 6,054,033 2,365,261 10,455,457
The notes to the financial statements are an integral part of this statement.
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