RALEIGH COUNTY, WEST VIRGINIA
STATEMENT OF NET POSITION
June 30, 2019
Primary Government Component Units
Governmental Building Recreation Board E-911 Public Airport
Activities Commission Authority of Health Center Library Authority
ASSETS
Current assets:
Cash and cash equivalents
$20,803,340 $194,477 $30,511 $1,224,765 $1,615,471 383,536 $1,226,456
Receivables:
Taxes 2,086,321 – – – – – – – – – – – –
Accounts – – – – 17,784 125,896 919,524 – – 130,796
Inventory, at cost – – – – – – – – – – – – 59,504
Prepaid expenses – – – – – – – – 51,621 – – 6,620
Total current assets 22,889,661 194,477 48,295 1,350,661 2,586,616 383,536 1,423,376
Restricted assets:
Restricted cash 1,196,437 – – 301,022 – – 667,519 963,551 21,244
Capital assets:
Nondepreciable:
Land and other 3,033,651 708,000 3,337,193 – – 2,524,931 – – 16,999,854
Construction in progress – – – – – – – – – – – – 15,073,331
Depreciable:
Buildings 24,750,013 977,621 3,055,229 18,140 4,906,055 – – 9,567,482
Structures and improvements – – – – – – – – – – – – – –
Machinery and equipment 7,698,018 457,628 248,003 50,050 3,014,398 – – 4,022,210
Less: accumulated depreciation (9,596,816) (769,561) (534,415) (53,093) (3,698,563) – – (3,346,406)
Total noncurrent assets 27,081,303 1,373,688 6,407,032 15,097 7,414,340 963,551 42,337,715
Total assets 49,970,964 1,568,165 6,455,327 1,365,758 10,000,956 1,347,087 43,761,091
DEFERRED OUTFLOWS
Differences between projected and actual investment earnings – – – – 5,336 – – – – – – – –
Employer contributions during measurement period – – – – 16,176 – – – – – – – –
Changes in proportion and differences between employer
contributions and proportionate share of contributions 491,360 – – 9,885 – – 43,005 – – – –
Differences between expected and actual experience 112,306 – – 20,107 – – 34,519 – – – –
Employer contributions subsequent to measurement period 1,296,187 – – – – – – 198,158 – – – –
Total deferred outflows of resources 1,899,853 – – 51,504 – – 275,682 – – – –
LIABILITIES
Current liabilities payable
from current assets:
Accounts payable 5,913,155 – – 6,321 68,646 25,875 – – 128,116
Payroll payable 8 – – 9,626 – – – – 40,757 34,209
Other accrued expenses 52,540 – – – – – – – – – – – –
OPEB payable – – – – 84,392 – – – – 766,970 256,276
Unearned revenues:
Other – – – – – – – – 109,138 – – – –
Noncurrent liabilities:
Bonds payable – due within one year 510,000 – – – – – – – – – – – –
Bonds payable – due in more than one year 7,850,326 – – – – – – – – – – – –
Notes payable – due within one year – – – – – – – – – – – – 21,266
Notes payable – due in more than one year – – – – – – – – – – – – 17,750
Leases payable – due within one year 110,795 – – – – – – – – – – – –
Leases payable – due in more than one year 764,033 – – – – – – – – – – – –
Net pension liability 859,372 – – – – – – 387,885 – – – –
Net OPEB liability 4,012,066 – – – – – – 647,375 – – – –
Compensated absences payable 666,857 – – 6,387 – – 76,721 – – 175,796
Total liabilities 20,739,152 – – 106,726 68,646 1,246,994 807,727 633,413
DEFERRED INFLOWS
Differences between expected and actual experience 443,498 – – – – – – 3,025 – – – –
Net difference between projected and actual investment
earnings on pension plan investments 968,493 – – – – – – 104,634 – – – –
Difference in assumptions 503,144 – – 3,117 – – 20,119 – – – –
Changes in proportion and differences between employer
contributions and proportionate share of contributions 599,407 – – 2,589 – – 120,184 – – – –
Total deferred inflows of resources 2,514,542 – – 5,706 – – 247,962 – – – –
NET POSITION
Net investment in capital assets 16,597,172 1,373,688 6,106,009 15,097 6,746,821 – – 42,277,455
Restricted for:
Debt service 1,196,437 – – – – – – – – – – – –
Capital projects – – – – – – – – – – 432,914 21,244
Other purposes – – – – – – – – – – – – – –
Unrestricted 10,823,514 194,477 288,390 1,282,015 2,034,861 106,446 828,979
Total net position $28,617,123 $1,568,165 $6,394,399 $1,297,112 $8,781,682 539,360 $43,127,678
Total liabilities and net position $51,870,817 $1,568,165 $6,506,831 $1,365,758 $10,276,638 1,347,087 $43,761,091
The notes to the financial statements are an integral part of this statement.
RALEIGH COUNTY, WEST VIRGINIA
STATEMENT OF ACTIVITIES
For the Fiscal Year Ended June 30, 2019
Net (Expense) Revenues and
Program Revenues Changes in Net Position
Charges Operating Capital Primary Government Component Units
for Grants and Grants and Governmental Building Recreation Board E911 Public Airport
Expenses Services Contributions Contributions Activities Commission Authority of Health Center Library Authority
Functions / Programs
Primary government:
Governmental activities:
General government $10,500,141 $4,557,033 $499,643 $- – $(5,443,465) (5,443,465)
Public safety 16,365,227 – – 55,951 – – (16,309,276) (16,309,276)
Health and sanitation 267,786 – – – – – – (267,786) (267,786)
Administrative and general 2,500 – – – – – – (2,500) (2,500)
Culture and recreation 1,651,769 – – – – – – (1,651,769) (1,651,769)
Social services 70,184 – – – – – – (70,184) (70,184)
Interest on long-term debt 324,951 – – – – – – (324,951) (324,951)
Total governmental activities 29,182,558 4,557,033 555,594 – – (24,069,931) (24,069,931)
Component units:
Building Commission 49,094 25,940 – – – – – – $(23,154) $- – $- – $- – $- – $- –
Recreation Authority 1,012,488 1,024,848 – – – – – – – – 12,360 – – – – – – – –
Board of Health 1,499,087 990,575 – – – – – – – – – – (508,512) – – – – – –
E-911 Center 2,544,373 3,302,010 – – – – – – – – – – – – 757,637 – – – –
Public Library 1,377,467 84,514 1,236,977 – – – – – – – – – – – – (55,976) – –
Airport Authority 2,777,203 1,688,463 62,379 – – – – – – – – – – – – – – (1,026,361)
Total component units $9,259,712 $7,116,350 $1,299,356 $- – $- – $(23,154) $12,360 $(508,512) $757,637 $(55,976) $(1,026,361)
General revenues:
Ad valorem property taxes 20,184,669 – – – – – – – – – – – –
Alcoholic beverages tax 173,445 – – – – – – – – – – – –
Hotel occupancy tax 1,079,078 – – – – – – – – – – – –
Animal tax 13,060 – – – – – – – – – – – –
Gas and oil severance tax 135,500 – – – – – – – – – – – –
Other taxes 134,607 – – – – – – – – – – – –
Coal severance tax 2,147,905 – – – – – – – – – – – –
Licenses and permits 199,820 – – – – – – – – – – – –
Intergovernmental:
Federal – – – – – – – – – – – – – –
State – – – – – – 417,797 – – – – – –
Local – – – – – – 110,000 – – – – – –
Unrestricted investment earnings 310,896 30 924 3,666 22,254 38,827 1,304
Refunds 480,767 401 – – – – – – – – – –
Miscellaneous 959,064 – – – – – – – – – – – –
Total general revenues 26,746,176 431 924 531,463 22,254 38,827 1,304
Change in net position 2,676,245 (22,723) 13,284 22,951 779,891 (17,149) (1,025,057)
Net position – beginning, restated (Note III.I.) 25,940,878 1,590,888 6,381,115 1,274,161 8,001,791 556,509 44,152,735
Net position – ending $28,617,123 $1,568,165 $6,394,399 $1,297,112 $8,781,682 $539,360 $43,127,678
The notes to the financial statements are an integral part of this statement.
RALEIGH COUNTY, WEST VIRGINIA
BALANCE SHEET – GOVERNMENTAL FUNDS
June 30, 2019
Coal Fire TIF TIF Debt Other Nonmajor Total
Severance Levy Tax Service Governmental Governmental
General Tax Fund Fund Fund Funds Funds
ASSETS AND DEFERRED OUTFLOWS
Assets:
Current:
Cash and cash equivalents $8,897,399 $2,028,360 $1,999,262 $- – $- – $7,878,319 $20,803,340
Receivables:
Taxes 1,612,786 – – 460,344 – – 13,191 – – 2,086,321
Due from:
Other funds – – – – – – – – – – 625 625
Restricted cash – – – – – – – – 1,196,437 – – 1,196,437
Total assets $10,510,185 $2,028,360 $2,459,606 $- – $1,209,628 $7,878,944 $24,086,723
LIABILITIES, DEFERRED INFLOWS AND FUND BALANCES
Liabilities:
Accounts payable 313,814 38,427 142,672 4,753,202 – – 665,040 5,913,155
Payroll payable – – – – – – – – – – 8 8
Other accrued expenses 31 – – – – – – 52,509 – – 52,540
Due to:
Other funds 625 – – – – – – – – – – 625
Total liabilities 314,470 38,427 142,672 4,753,202 52,509 665,048 5,966,328
Deferred Inflows:
Unavailable revenue – taxes 1,224,603 – – 313,220 – – 2,906 – – 1,540,729
Total deferred inflows of resources 1,224,603 – – 313,220 – – 2,906 – – 1,540,729
Total liabilities and deferred inflows of resources 1,539,073 38,427 455,892 4,753,202 55,415 665,048 7,507,057
Fund balances:
Restricted – – 991,903 – – – – 1,154,213 6,280,932 8,427,048
Committed 6,178,263 – – – – – – – – 942,636 7,120,899
Assigned – – 998,030 2,003,714 – – – – – – 3,001,744
Unassigned 2,792,849 – – – – (4,753,202) – – (9,672) (1,970,025)
Total fund balances 8,971,112 1,989,933 2,003,714 (4,753,202) 1,154,213 7,213,896 16,579,666
Total liabilities, deferred inflows and fund balances $10,510,185 $2,028,360 $2,459,606 $- – $1,209,628 $7,878,944 $24,086,723
The notes to the financial statements are an integral part of this statement.
RALEIGH COUNTY, WEST VIRGINIA
RECONCILIATION OF THE BALANCE SHEET – GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
June 30, 2019
Total fund balances on the governmental fund’s balance sheet $16,579,666
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not financial resources and are therefore not reported in the funds. (Note III.C.) 25,884,866
Certain revenues are not available to fund current year expenditures and therefore are deferred in the funds. (Note III.B.) 1,540,729
Long-term liabilities are not due and payable in the current period and therefore are not reported in the funds. (Note III.G.) (14,773,449)
Deferred inflows and deferred outflows of resources are not reported in the funds (614,689)
Net position of governmental activities $28,617,123
The notes to the financial statements are an integral part of this statement.
RALEIGH COUNTY, WEST VIRGINIA
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES – GOVERNMENTAL FUNDS
For the Fiscal Year Ended June 30, 2019
Coal Fire TIF TIF Debt Other Nonmajor Total
Severance Levy Tax Service Governmental Governmental
General Tax Fund Fund Fund Funds Funds
REVENUES
Taxes:
Ad valorem property taxes $14,712,429 $- – $3,794,691 $- – $1,077,499 $814,866 $20,399,485
Alcoholic beverages tax 173,445 – – – – – – – – – – 173,445
Hotel occupancy tax 1,079,078 – – – – – – – – – – 1,079,078
Animal tax – – – – – – – – – – 13,060 13,060
Gas and oil severance tax 135,500 – – – – – – – – – – 135,500
Other taxes 118,991 – – 3,092 – – – – – – 122,083
Coal severance tax – – 1,306,490 – – – – – – 841,415 2,147,905
Licenses and permits 95,920 – – – – – – – – 103,900 199,820
Intergovernmental:
Federal 18,016 – – – – – – – – 37,935 55,951
State 371,238 – – – – – – – – 128,405 499,643
Charges for services 1,005,847 – – 29,374 – – – – 3,207,817 4,243,038
Fines and forfeits – – – – – – – – – – 313,995 313,995
Interest and investment earnings 132,712 24,651 21,370 – – 27,853 104,310 310,896
Refunds 402,842 5,261 13,145 – – – – 59,519 480,767
Reimbursements 644,886 – – – – – – – – – – 644,886
Payments in lieu of taxes 12,524 – – – – – – – – – – 12,524
Miscellaneous 123,803 – – – – – – – – 835,620 959,423
Total revenues 19,027,231 1,336,402 3,861,672 – – 1,105,352 6,743,321 32,073,978
EXPENDITURES
Current:
General government 9,031,092 1,068,008 – – – – – – 1,132,917 11,232,017
Public safety 8,405,359 345,848 3,838,649 – – – – 3,995,501 16,585,357
Health and sanitation 138,162 78,000 – – – – – – 33,804 249,966
Administrative and general – – – – – – – – 2,500 – – 2,500
Culture and recreation 1,649,873 – – – – – – – – – – 1,649,873
Social services 27,519 42,665 – – – – – – – – 70,184
Debt service:
Principal – – – – – – – – 740,000 – – 740,000
Interest – – – – – – – – 324,951 – – 324,951
Total expenditures 19,252,005 1,534,521 3,838,649 – – 1,067,451 5,162,222 30,854,848
Excess (deficiency) of revenues over expenditures (224,774) (198,119) 23,023 – – 37,901 1,581,099 1,219,130
OTHER FINANCING SOURCES (USES)
Transfers in 638,540 – – – – – – – – – – 638,540
Transfers (out) – – – – – – – – – – (638,540) (638,540)
Total other financing sources (uses) 638,540 – – – – – – – – (638,540) – –
Net change in fund balances 413,766 (198,119) 23,023 – – 37,901 942,559 1,219,130
Fund balances – beginning, Restated Note (III.I.) 8,557,346 2,188,052 1,980,691 (4,753,202) 1,116,312 6,271,337 15,360,536
Fund balances – ending $8,971,112 $1,989,933 $2,003,714 $(4,753,202) $1,154,213 $7,213,896 $16,579,666
The notes to the financial statements are an integral part of this statement.
RALEIGH COUNTY, WEST VIRGINIA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
For the Fiscal Year Ended June 30, 2019
Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances – total governmental funds $1,219,130
Capital outlays are reported as an expenditure in the governmental funds but are considered an asset at the government-wide level. This is the amount of capital assets that were
purchased during the fiscal year. (Note III.C.) 1,114,136
Capital outlays are reported as an expenditure in the governmental funds. In the statement of activities the cost of those assets is allocated over their estimated useful lives and
reported as depreciation expense. This is the amount of depreciation expense charged during the year. (Note III.C.). (1,361,384)
Revenues in the statement of activities that do not provide current financial resources are not reported as revenues in the funds. This is the difference between prior and current year
unavailable/unearned revenues. (Note III.B.) (214,816)
Prior year unavailable/unearned revenues: 1,755,545
Current year unavailable/unearned revenues: 1,540,729
The issuance of long-term debt (e.g., bonds, leases) provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the
current financial resources of governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the effect of premiums, discounts, and
similar items when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities. This amount is the net effect of these differences in the
treatment of long-term debt and related items. (Note III.G.) 748,986
Certain pension and OPEB expenses in the statement of activities are recognized on the accrual basis of accounting in accordance with GASB 68. (Note V.)
Amount of pension and OPEB expenditures at fund level. 1,296,189
PERS: 602,647
DSRS: 301,373
OPEB: 392,169
Amount of pension expenses recognized at government-wide level. (Note V.) (176,417)
PERS: 101,836
DSRS: (70,045)
OPEB: 144,626
Some expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds. (Note III.G.) 50,421
Change in net position of governmental activities $2,676,245
The notes to the financial statements are an integral part of this statement.
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