REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
|
1
|
FINANCIAL
STATEMENTS
|
|
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
|
2
|
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
|
3
|
NOTES TO FINANCIAL STATEMENTS
|
4
|
SUPPLEMENTAL
SCHEDULES
|
|
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF
YEAR)
|
9
|
SCHEDULE H, LINE 4a - SCHEDULE OF DELINQUENT
|
|
PARTICIPANT CONTRIBUTIONS
|
12
|
2006
|
2005
|
|||||||
ASSETS
|
||||||||
Cash
|
(7,622 | ) |
13,354
|
|||||
Investments,
at fair value (Note 3)
|
10,490,891
|
8,322,043
|
||||||
Participant
contributions receivable
|
131,541
|
119,756
|
||||||
Employer
contribution receivable
|
19,692
|
14,416
|
||||||
Dividends
receivable
|
18,398
|
9,570
|
||||||
Total
assets
|
10,652,900
|
8,479,139
|
||||||
NET
ASSETS AVAILABLE FOR BENEFITS
|
$ |
10,652,900
|
$ |
8,479,139
|
||||
Additions
to net assets attributed to:
|
||||
Investment
income
|
||||
Net
appreciation in fair value of investments (Note 3)
|
699,766
|
|||
Dividends
and interest income
|
330,824
|
|||
1,030,590
|
||||
Contributions
|
||||
Participant
|
$ |
1,634,352
|
||
Employer
|
230,790
|
|||
Rollovers
|
104,247
|
|||
1,969,389
|
||||
Total
additions
|
2,999,979
|
|||
Deductions
from net assets attributed to:
|
||||
Benefits
paid to participants
|
826,218
|
|||
Net
increase
|
2,173,761
|
|||
Net
assets available for benefits
|
||||
Beginning
of year
|
8,479,139
|
|||
End
of year
|
$ |
10,652,900
|
December
31,
|
||||||||
2006
|
2005
|
|||||||
Investments
at fair value
|
||||||||
Federated
Max-Cap Index Fund (0 and 82,332 shares)
|
$ |
--
|
$ |
2,034,418
|
||||
Federated
Treasury Obligations Fund (0 and 1,379,495 shares)
|
--
|
1,379,495
|
||||||
American
Euro Pac Growth Fund (0 and 20,583 shares)
|
--
|
835,861
|
||||||
Federated
Kaufmann Fund (0 and 138,145 shares)
|
--
|
773,612
|
||||||
Capital
City Bank Group, Inc. Common Stock
|
||||||||
(27,201
and 22,036 shares)
|
960,195
|
755,614
|
||||||
Federated
Capital Appreciation Fund (0 and 19,745 shares)
|
--
|
495,213
|
||||||
Federated
Total Return Bond Fund (0 and 43,742 shares)
|
--
|
461,480
|
2006
|
2005
|
|||||||
Investments
at fair value (continued)
|
||||||||
Vanguard
Institutional Index Fund (16,661 and 0 shares)
|
$ |
2,159,086
|
$ |
--
|
||||
Prime
Obligation Fund (1,902,347 and 0 shares)
|
1,902,347
|
--
|
||||||
American
Fund Europac (23,606 and 0 shares)
|
1,099,109
|
--
|
||||||
Fidelity
Structured Mid Cap Growth (59,432 and 0 shares)
|
830,271
|
--
|
||||||
Select
American Shares (14,112 and 0 shares)
|
650,136
|
--
|
Mutual
Funds
|
$ |
690,808
|
||
Capital
City Bank Group, Inc. Common Stock
|
8,958
|
|||
Net
appreciation in fair value of investments
|
$ |
699,766
|
2006
|
2005
|
|||||||
Federated
Max-Cap Index Fund (0 and 82,332 shares)
|
$ |
--
|
$ |
2,034,418
|
||||
Federated
Treasury Obligations Fund (0 and 1,379,495 shares)
|
--
|
1,379,495
|
||||||
Federated
Kaufmann Fund (0 and 138,145)
|
--
|
773,612
|
||||||
Federated
Capital Appreciation Fund (0 and and 19,745 shares)
|
--
|
495,213
|
||||||
Federated
Total Return Bond Fund (0 and 43,742 shares)
|
--
|
461,480
|
||||||
Federated
Stock Trust Fund (0 and 9,718 shares)
|
--
|
303,673
|
||||||
Federated
Index Trust (0 and 9,781 shares)
|
--
|
216,746
|
||||||
Federated
U.S. Gov. Sec. 2-5 Years (0 and 8,039 shares)
|
--
|
88,186
|
||||||
Federated
High Income Bond Fund (0 and 3,908 shares)
|
--
|
30,599
|
||||||
Federated
Income Trust (0 and 2,064 shares)
|
--
|
21,134
|
(c)
|
||||||
(b)
|
Description
of Investment
|
|||||
Identity
of Issuer,
|
Including
Maturity Date,
|
|||||
Borrower,
|
Rate
of Interest,
|
(e)
|
||||
Lessor,
or
|
Collateral,
Par
|
(d)
|
Current
|
|||
(a)
|
Similar
Party
|
or
Maturity Value
|
**Cost
|
Value
|
||
Mutual
Funds
|
||||||
Vanguard
|
Mid-Cap
Index,
|
|||||
3,589
shares
|
$
|
322,052
|
||||
Vanguard
|
Total
Bond Index,
|
|||||
14,833
shares
|
148,182
|
|||||
DWS
Reef
|
Real
Estate Securities Fund
|
|||||
2,655
shares
|
70,444
|
|||||
American
Funds
|
High
Income Fund,
|
|||||
4,545
shares
|
57,307
|
|||||
Vanguard
|
Developed
Market Index Fund,
|
|||||
4,171
shares
|
52,473
|
|||||
DWS
Dreman
|
Small
Cap Fund,
|
|||||
1,233
shares
|
47,179
|
|||||
Blackrock
|
Mid-Cap
Value Fund,
|
|||||
3,179
shares
|
42,088
|
|||||
American
Funds
|
Small-Cap
Fund,
|
|||||
911
shares
|
35,732
|
|||||
Van
Kampen Funds
|
Equity
Fund,
|
|||||
3,532
shares
|
32,212
|
|||||
Goldman
Sachs
|
Structured
U.S. Equity Fund, 862 shares
|
29,042
|
||||
(c)
|
||||||
(b)
|
Description
of Investment
|
|||||
Identity
of Issue,
|
Including
Maturity Date,
|
|||||
Borrower,
|
Rate
of Interest,
|
(e)
|
||||
Lessor,
or
|
Collateral,
Par
|
(d)
|
Current
|
|||
(a)
|
Similar
Party
|
or
Maturity Value
|
**Cost
|
Value
|
||
T
Rowe Price
|
Real
Estate Retail Shares,
|
|||||
1,126
shares
|
$
|
28,534
|
||||
Vanguard
|
Inflation
Protected Reinvestment,
|
|||||
350
shares
|
4,128
|
|||||
Dreyfus
Fund
|
Bond
Index,
|
|||||
87
shares
|
865
|
|||||
Fidelity
|
Structured
Mid Cap Growth Fund
|
830,271
|
||||
59,432
shares
|
||||||
Vanguard
|
Prime
Obligation
|
1,902,347
|
||||
1,902,347
shares
|
||||||
Goldman
Sachs
|
Structured
U.S. Equity
|
478,358
|
||||
48,515
shares
|
||||||
Vanguard
|
Vanguard
Institutional Index
|
2,159,086
|
||||
16,661
shares
|
||||||
American
Funds
|
Europacific
|
1,099,109
|
||||
23,606
shares
|
||||||
American
Funds
|
Fundamental
Growth
|
381,263
|
||||
9,517
shares
|
||||||
American
Funds
|
Growth
Fund of America
|
461,858
|
||||
14,055
shares
|
(c)
|
||||||
(b)
|
Description
of Investment
|
|||||
Identity
of Issue,
|
Including
Maturity Date,
|
|||||
Borrower,
|
Rate
of Interest,
|
(e)
|
||||
Lessor,
or
|
Collateral,
Par
|
(d)
|
Current
|
|||
(a)
|
Similar
Party
|
or
Maturity Value
|
**Cost
|
Value
|
||
Royce
|
Premier
Investment
|
|||||
19,304
shares
|
$
|
341,882
|
||||
Select
|
Selected
American Shares
|
|||||
14,112
shares
|
650,136
|
|||||
Vanguard
|
Total
Stock Market
|
|||||
10,447
shares
|
356,148
|
|||||
Capital
City Bank
|
Capital
City Bank Group, Inc.,
|
960,195
|
||||
Group,
Inc.
|
Common
Stock, 27,201 shares
|
|||||
$
|
10,490,891
|
Participant
Contributions of the Current Plan Year Not Deposited
|
||||
Into
the Plan Within the Time Period Described in 29 CFR
2510.3-102
|
$ |
269
|
||
Plus: Delinquent
Deposits of Prior Year Participant Contributions
|
||||
Not
Corrected Prior to the Current Plan Year
|
--
|
|||
Total
Delinquent Participant Contributions (line 4a of Schedule
H)
|
269
|
|||
Less: Amount
fully corrected under the DOL’s Voluntary Fiduciary
|
||||
Correction
Program (VFC Program) and PTE 2002-51
|
238
|
|||
Delinquent
Deposits of Participant Contributions Constituting
|
||||
Nonexempt
Prohibited Transactions
|
$ | 31 | (1) |