Legal 6 col x 20”
1026
CLAY COUNTY, WEST VIRGINIA
STATEMENT OF NET POSITION
June 30, 2023
Primary Government Component Units
Business
Governmental Board of Landmark Public Development
Activities Health Commission Library Authority
Assets
Current assets:
Cash and cash equivalents $ 2,728,922 $ 1,006,942 $ 10,999 $ 352,776 $ 8,205
Receivables:
Taxes 214,120 – – – –
Accounts 440,438 491,683 – – –
Prepaid expenses – 16,425 – – –
Capital assets:
Nondepreciable:
Land 199,281 – – – 62,160
Depreciable:
Buildings 4,051,495 – – – 43,235
Structures and improvements 594,179 – – – –
Machinery and equipment 2,087,249 258,280 – – –
Less: accumulated depreciation (4,177,801) (144,825) – – (15,571)
Other debits:
Net pension assets – 285,224 – – –
Net OPEB assets – 3,602 – – –
Total assets $ 6,137,883 $ 1,917,355 $ 10,999 $ 352,776 $ 98,029
DEFERRED OUTFLOWS
Deferred outflows of resources related to OPEB 37,633 152,668 – – –
Deferred outflows of resources related to pensions 429,235 38,504 – – –
Total deferred outflows of resources 466,868 191,172 – – –
LIABILITIES
Current liabilities payable from current assets:
Accounts payable 2,466,269 5,287 – 11 –
Payroll available – 1,605 – – –
Unearned revenues:
Federal Grants 934,110 – – – –
Noncurrent liabilities:
Notes payable – due in one year 53,103 – – – –
Compensated absences payable 43,411 40,214 – – –
Net pension liability 150,433 – – – –
Liability for closure and postclosure
Net OPEB liability 17,376 – – – –
Total liabilities 3,664,702 47,106 – 11 –
DEFERRED INFLOWS
Deferred inflows of resources related to OPEB 911,130 369,708 – – –
Deferred inflows of resources to pensions 46,196 140,588 – – –
Total deferred inflows of resources 137,326 510,296 – – –
NET POSITION
Invested in capital assets, net of related debt 2,701,300 113,455 – – 89,824
Restricted for:
Unrestricted 101,423 1,437,670 10,999 352,765 8,205
Total net position $ 2,802,723 $ 1,551,125 $ 10,999 $ 352,765 $ 98,029
The notes to the financial statements are an integral part of this statement
CLAY COUNTY, WEST VIRGINIA
STATEMENT OF ACTIVITIES
For the Fiscal Year Ended June 30, 2023
Net (Expense) Revenues and
Program Revenues Changes in Net Position
Charges Operating Primary Government Component Units
for Grants and Governmental Board of Landmark Public Business
Expenses Services Contributions Activities Health Commission Library Dev. Authority
Functions / Programs
Primary government:
Governmental activities:
General government $ 1,676,602 $ 1,689,245 $ 97,715 $ 990,722
Public safety 2,525,284 – 49,170 (2,188,463)
Health and Sanitation – – 37,306
Culture and recreation 7,178 – – (12,777)
Social services 51,651 – – (2,667)
Capital projects 264,745 – –
Total primary government $ 4,525,460 $ 1,689,245 $ 184,191 (1,213,185)
Component units:
Clay County Board of Health 1,365,779 191,895 1,453,294 – $ 279,410 $ – $ – $ –
Clay County Landmark Commission 1,669 3,112 1,611 – – 3,054 – –
Clay County Public Library 121,518 3,047 67,205 – – – (51,266) –
Clay Business Development Authority 3,951,197 45,441 3,883,383 – – – – (22,373)
Total component units $ 5,440,163 $ 243,495 $ 5,405,493 – $ 279,410 3,054 (51,266) (22,373)
General revenues:
Ad valorem property taxes 1,234,572 – – 64,044 –
Alcoholic beverages tax 630 – – – –
Gas and oil severance tax 68,043 – – – –
Other taxes 47,680 – – – –
Coal severance tax 39,732 – – – –
Licenses and permits 14,814 – – – –
Unrestricted investment earnings 5,999 8,115 – 2,735 102
Refunds 20,446 – – – 64
Miscellaneous 192,369 96 – – –
Total general revenues 1,624,285 8,211 – 66,779 166
Change in net position (245,199) 287,621 3,054 15,513 (22,207)
Net position – beginning 2,809,094 1,263,504 7,945 337,252 120,236
Net position – ending $ 2,802,723 $ 1,263,504 $ 10,999 $ 352,765 $ 98,029
The notes to the financial statements are an integral part of this statement
CLAY COUNTY, WEST VIRGINIA
BALANCE SHEET – GOVERNMENTAL FUNDS
June 30, 2023
Coal Other Nonmajor Total
Severance American Wireless Governmental Governmental
General Tax CCEMS E-911 Rescue Act Tower Funds Funds
ASSETS
Current:
Cash and cash equivalents $ 168,411 $ 10,361 $ 348,276 $ 797,228 $ 934,982 $ 383,749 $ 85,915 $ 2,728,922
Receivables:
Taxes 214,120 – – – – – – 214,120
Accounts – 10,451 429,987 – – – – 440,438
Total assets $ 382,531 $ 20,812 $ 778,263 $ 797,228 $ 934,982 $ 383,749 $ 85,915 $ 3,383,480
LIABILITIES, DEFERRED INFLOWS AND FUND BALANCES
Liabilities:
Accounts payable 2,466,269 – – – – – – 2,466,269
Deferred revenues:
Federal grants – – – – 934,110 – – 934,110
Total liabilities 2,466,269 – – 934,110 – – 3,400,379
Deferred Inflows:
Unavailable revenue – taxes 195,514 – – – – – – 195,514
Total deferred inflows of resources 195,514 – – – – – – 195,514
Total liabilities and deferred inflows
of resources 2,661,783 – – – 934,110 – – 3,595,893
Fund balances:
Restricted – – 778,263 797,228 872 383,749 85,915 2,046,027
Assigned (2,279,252) 20,812 – – – – – (2,258,440)
Total find balances (2,279,252) 20,812 778,263 797,228 872 383,749 85,915 (212,413)
Total liabilities, deferred inflows
and fund balances $ 382,531 $ 20,812 $ 778,263 $ 797,228 $ 934,982 $ 383,749 $ 85,915 $ 3,383,480
The notes to the financial statements are an integral part of this statement
CLAY COUNTY, WEST VIRGINIA
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
June 30, 2023
Agency
Funds
ASSETS
Non-pooled cash $ 1,205,141
Total cash $ 1,205,141
Receivables:
Taxes 356,617
Total receivables 356,617
Total assets $ 1,561,758
NET POSITION
Restricted for 1,561,758
Individuals, organizations,
other governments
Total liabilities $ 1,561,758
The notes to the financial statements
are an integral part of this statement
CLAY COUNTY, WEST VIRGINIA
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
– GOVERNMENTAL FUNDS
For the Fiscal Year Ended June 30, 2023
Coal Other Nonmajor Total
Severance American Wireless Governmental Governmental
General Tax CCEMS E-911 Rescue Plan Tower Funds Funds
REVENUES
Taxes:
Ad valorem property taxes $ 1,147,463 $ – $ – $ – $ – $ – $ – $ 1,147,463
Alcoholic beverages tax 630 – – – – – – 630
Gas and oil severance tax 68,043 – – – – – – 68,043
Other taxes 44,861 – – – – – 2,819 47,680
Coal severance tax – 39,732 – – – – – 39,732
Licenses and permits 9,714 – – – – – 5,100 14,814
Intergovernmental:
Federal 109,869 – 32,306 24,319 564,183 – 29,202 759,879
State 68,396 – – – – 128,456 – 196,852
Local 10,000 – – – – – – 10,000
Charges for services 98,538 – 850,919 674,097 – – 4,665 1,628,219
Fines and forfeits – – – – – – 61,026 61,026
Interest and investment earnings 891 26 1,134 2,393 872 595 88 5,999
Refunds 20,446 – – – – – – 20,446
Contributions and donations – – – – – – 52,991 52,991
Miscellaneous 79,134 – 7,849 46,875 – – 5,520 139,378
Total revenues 1,657,985 39,758 892,208 747,684 565,055 129,051 161,411 4,193,152
EXPENDITURES
Current:
General government 1,605,951 – – – 564,183 – 52,322 2,222,456
Public safety 1,032,514 29,153 888,909 496,799 – – 55,707 2,503,082
Social services 49,601 – – – – – – 49,601
Capital outlay – – – – – 264,745 – 264,745
Total expenditures 2,688,066 29,153 888,909 496,799 564,183 264,745 108,029 5,039,884
Excess (deficiency) of revenues
over expenditures (1,030,081) 10,605 3,299 250,885 872 (135,694) 53,382 (846,732)
OTHER FINANCING SOURCES (USES)
Transfers in 532,909 – – – – – – 532,909
Transfers (out) – – – (471,419) – – (61,490) (532,909)
Total other financing
sources (uses) 532,909 – – (471,419) – – (61,490) –
Net change in fund balances (497,172) 10,605 3,299 (220,534) 872 (135,694) (8,108) (846,732)
Fund balances – beginning (1,782,080) 10,207 774,964 1,017,762 – 519,443 94,023 634,319
Fund balances – ending $ (2,279,252) $ 20,812 $ 778,263 $ 797,228 $ 872 $ 383,749 $ 85,915 $ (212,413)
The notes to the financial statements are an integral part of this statement
CLAY COUNTY, WEST VIRGINIA
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCE – BUDGET AND ACTUAL – GENERAL FUND
For the Fiscal Year Ended June 30, 2023
Variance with
Budgeted Amounts Actual Adjustments Actual Amounts Final Budget
Modified Budget Budget Positive
Original Final Accrual Basis Basis Basis (Negative)
REVENUES
Taxes:
Ad valorem property taxes $ 1,192,977 $ 1,214,116 $ 1,147,463 $ (11,586) $ 1,135,877 $ (78,239)
Alcoholic beverages tax 300 300 630 – 630 330
Gas and oil severance tax 20,000 68,042 68,043 – 68,043 1
Other taxes 25,000 25,000 44,861 – 44,861 19,861
Licenses and permits 800 8,997 9,714 – 9,714 717
Intergovernmental:
Federal – 89,901 109,869 – 109,869 19,968
State – 68,396 68,396 – 68,396 –
Local – 10,000 10,000 – 10,000 –
Charges for services 94,550 94,550 98,538 – 98,538 3,988
Interest and investment earnings 1,200 1,200 891 – 891 (309)
Refunds – 46,500 20,446 4,115 24,561 (21,939)
Miscellaneous 64,300 81,300 79,134 – 79,134 (2,166)
Total revenues 1,399,127 1,708,302 1,657,985 (7,471) 1,650,514 (57,788)
EXPENDITURES
Current:
General government 1,460,405 1,724,970 1,605,951 – 1,605,951 119,019
Public safety 214,857 807,199 1,032,514 (329,488) 703,026 104,173
Social services 3,200 52,801 49,601 – 49,601 3,200
Total expenditures 1,678,462 2,584,970 2,688,066 (329,488) 2,358,578 226,392
Excess (deficiency) of revenues
over expenditures (279,335) (876,668) (1,030,081) 322,017 (708,064) 168,604
OTHER FINANCING SOURCES (USES)
Transfers in 22,267 528,984 532,909 (4,115) 528,794 (190)
Total other financing
sources (uses) 22,267 528,984 532,909 (4,115) 528,794 (190)
Net change in fund balance (257,068) (347,684) (497,172) 317,902 (179,270) 168,414
Fund balance – beginning 257,068 347,684 (1,782,080) 2,129,761 347,681 (3)
Fund balance – ending $ – $ – $ (2,279,252) $ 2,447,663 $ 168,411 $ 168,411
The notes to the financial statements are an integral part of this statement
CLAY COUNTY, WEST VIRGINIA
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCE – BUDGET AND ACTUAL – COAL SEVERANCE TAX FUND
For the Fiscal Year Ended June 30, 2023
Variance with
Budget Amounts Actual Adjustments Actual Amounts Final Budget
Modified Budget Budget Positive
Original Final Accrual Basis Basis Basis (Negative)
REVENUES
Taxes:
Coal severance tax $ 15,000 $ 39,263 $ 39,732 $ (348) $ 39,384 $ 121
Interest and investment earnings 20 16 26 – 26 10
Total revenues 15,020 39,279 39,758 (348) 39,410 131
EXPENDITURES
Current:
Public safety 15,120 39,383 29,153 – 29,153 10,230
Total expenditures 15,120 39,383 29,153 – 29,153 10,230
Net change in fund balance (100) (104) 10,605 (348) 10,257 10,361
Fund balance – beginning 100 104 10,207 (10,103) 104 –
Fund balance – ending $ – $ – $ 20,812 $ (10,451) $ 10,361 $ 10,361
The notes to the financial statements are an integral part of this statement