FORREST COUNTY AGRICULTURAL HIGH SCHOOL TABLE OF CONTENTS FINANCIAL AUDIT _part1 pptx

STATE OF MISSISSIPPI
OFFICE OF THE STATE AUDITOR
STEVEN A. PATTERSON
State Auditor
WILLIAM S. JONES, CPA
Director, Department of Audit
CHARLES L. SHIVERS, CPA
Director, Division of School District Audits
FORREST COUNTY AGRICULTURAL HIGH SCHOOL
Audited Financial Statements
For the Year Ended June 30, 1995

FORREST COUNTY AGRICULTURAL HIGH SCHOOL
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 Federal Financial Assistance 22
INTERNAL CONTROL STRUCTURE REPORTS 23
Independent Auditor's Report on the Internal Control Structure Based on an Audit of the
General Purpose Financial Statements Performed in Accordance with Government
Auditing Standards 25
Independent Auditor's Single Audit Report on the Internal Control Structure Used in

Administering Federal Financial Assistance Programs 27
COMPLIANCE REPORTS 31
Independent Auditor's Report on Compliance Based on an Audit of the General Purpose
Financial Statements Performed in Accordance with Government Auditing Standards 33
Independent Auditor's Single Audit Report on Compliance with the General Requirements
Applicable to Federal Financial Assistance Programs 33
Independent Auditor's Single Audit Report on Compliance with Specific Requirements
Applicable to Nonmajor Federal Financial Assistance Program Transactions 35
Independent Auditor's Report on Compliance with State Laws and Regulations 37
FINDINGS AND RECOMMENDATIONS 39

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FORREST COUNTY AGRICULTURAL HIGH SCHOOL
FINANCIAL AUDIT REPORT
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FORREST COUNTY AGRICULTURAL HIGH SCHOOL
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OFFICE OF THE STATE AUDITOR
STEVEN A. PATTERSON
AUDITOR
3750 I-55 NORTH FRONTAGE ROAD JACKSON, MISSISSIPPI 39211 (601) 364-2888 FAX (601) 364-2828
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INDEPENDENT AUDITOR'S REPORT
ON
THE GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION
August 9, 1996
Superintendent and School Board
Forrest County Agricultural High School
We have audited the general purpose financial statements of the Forrest County Agricultural High
School, a component unit of Forrest County, as of and for the year ended June 30, 1995, as listed in the table of

contents. These general purpose financial statements are the responsibility of the Forrest County Agricultural
High School'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 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 did not maintain adequate subsidiary records documenting the existence, completeness, and
valuation of the buildings and other equipment of the General Fixed Assets Account Group acquired prior to
July 1, 1985, which are not included in the general purpose financial statements. Due to the nature of the
school's records, we were unable to satisfy ourselves as to the fair presentation of buildings and other
equipment, reported at $334,366 and $268,330, respectively, as of June 30, 1995, which is understated.
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 other equipment subsidiary records, the general
purpose financial statements, referred to in the first paragraph above, present fairly, in all material respects, the
financial position of the Forrest County Agricultural High School at June 30, 1995, and the results of its
operations for the year then ended in conformity with generally accepted accounting principles.
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Our audit was made for the purpose of forming an opinion on the general purpose financial statements
taken as a whole. The accompanying financial information, including the Schedule of Federal Financial
Assistance, listed as supplemental information in the table of contents, is presented for purposes of additional
analysis and is not a required part of the general purpose financial statements of the Forrest County Agricultural
High School. This supplemental 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.
In accordance with Government Auditing Standards, we have also issued a report dated August 9, 1996

on our consideration of the Forrest County Agricultural High School's internal control structure and a report
dated August 9, 1996 on its compliance with laws and regulations.
WILLIAM S. JONES, CPA
Director, Department of Audit
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FORREST COUNTY AGRICULTURAL HIGH SCHOOL
GENERAL PURPOSE FINANCIAL STATEMENTS
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FORREST COUNTY AGRICULTURAL HIGH SCHOOL Exhibit A
Combined Balance Sheet - All Fund Types and Account Groups
June 30, 1995
Fiduciary
Governmental Fund Types Fund Types Account Groups
General General Total
Special Capital Trust and Fixed Long-term (Memorandum
General Revenue Projects Agency Assets Debt Only)
Assets
Cash and other deposits $ 363,924 106,515 185,106 122,374 777,919
Due from local sources 20,197 20,197
Due from state sources 18,586 18,586
Due from federal sources 4,969 4,969
Accrued interest receivable 195 861 114 1,170
Due from other funds 4,299 4,299
Deferred comp. plan assets at FMV 53,582 53,582
Inventories:
Cattle 17,550 17,550
Food 225 225
Donated commodities 1,872 1,872
Land 11,103 11,103
Buildings 334,366 334,366

Other motor equipment 6,450 6,450
Other equipment 268,330 268,330
Construction in progress 313,193 313,193
Amt. to be provided for retirement
of general long-term debt 16,090 16,090
Total Assets $ 406,165 132,167 185,967 176,070 933,442 16,090 1,849,901
Liabilities & Fund Equity
Liabilities:
Claims payable $ 11,916 24,095 946 36,957
Construction/retained percentage payable 142,931 142,931
Accrued payroll 45,031 45,031
Salary benefits & withholdings pay. 34,515 34,515
Due to student clubs 5,771 5,771
Due to other funds 4,299 4,299
Amt. held in custody for others 53,582 53,582
Compensated absences payable 16,090 16,090
Total Liabilities 11,916 28,394 143,877 138,899 16,090 339,176
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