FAYETTE COUNTY, WEST VIRGINIA
STATEMENT OF NET POSITION
June 30, 2021
Primary Government Component Units
Board Urban Farmland
Governmental of Public Renewal Protection
Activities Total Health Library Authority Board
ASSETS
Current assets:
Cash and cash equivalents $ 14,897,453 $ 14,897,453 $ 941,625 $ 1,951,902 $ 848,034 $ 966,545
Investments 2,154,200 2,154,200 – – 152,732 – – – –
Receivables: – –
Taxes 310,890 310,890 – – – – – – – –
Accounts – – – – – – – – – – – –
Grants 954,568 954,568 167,554 – – – – – –
Special assessments – – – – – – – – – – – –
Loans 88,698 88,698 – – – – – – – –
Due from:
Other governments – – – – – – – – – – – –
Component units – – – – – – – – – – – –
Primary government – – – – – – – – – – – –
Total current assets 18,405,810 18,405,810 1,109,980 2,104,634 848,034 966,545
Capital assets:
Nondepreciable:
Land 2,082,664 2,082,664 – – 1,179,203 – –
Construction in progress 2,072,257 2,072,257 – – – – – – – –
Depreciable:
Buildings 17,279,936 17,279,936 16,500 – – – – – –
Structures and improvements 2,951,400 2,951,400 – – 2,147,552 – –
Easements – – – – – – – – 853,350
Books – – – – – – 182 – – – –
Machinery and equipment 5,593,459 5,593,459 284,369 2,573 28,923 – –
Leasehold improvements – – – – – – 114,715 – –
Less: accumulated depreciation ( 21,657,091) ( 21,657,091) ( 61,776) ( 1,078,245) – –
Other debits: – –
Other – – – – – – 20,055 – –
Total noncurrent assets 8,322,625 8,322,625 239,093 2,755 2,412,202 853,350
Total assets 26,728,435 26,728,435 1,349,073 2,107,389 3,260,236 1,819,895
DEFERRED OUTFLOWS
Net differences between projected and actual investment earnings Changes in employer proportion and differences between
contributions and proportionate share of contributions 79,760
Difference in assumptions
Differences between expected and actual experience 10,249
Employer contributions subsequent to measurement date 125,074 125,074 – – – – – – – –
– – – – – – – – – – – –
Total deferred outflows of resources 125,074 125,074 – – – – – – – –
LIABILITIES
Current liabilities payable
from current assets:
Accounts payable – – – – 16,547 – – – – – –
Refunds payable – – – – – – – – – – – –
Payroll payable 74,193 74,193 10,177 29,396 – – – –
Other accrued expenses – – – – – – – – – – – –
Contracts payable – – – – – – – – – – – –
Leases payable – – – – – – – – – – – –
Compensated absences payable 307,916 307,916 – – – – – – – –
OPEB payable 2,271,403 2,271,403 – – – – – – – –
Due to:
Component unit – – – – – – – – – – – –
Other governments – – – – – – – – – – – –
Noncurrent liabilities:
Bonds payable – due within one year 55,000 55,000 – – – – – – – –
Bonds payable – due in more than one year 1,980,000 1,980,000 – – – – – – – –
Notes payable – due within one year – – – – – – – – – –
Notes payable – due in more than one year 90,325 90,325 234,820 2,157,340 – –
Leases payable – due within one year – – – – – – – – – – – –
Leases payable – due in more than one year – – – – – – – – – – – –
Net pension liability 2,879,386 2,879,386 – – – – – – – –
Compensated absences payable 307,916 307,916 – – – – – – – –
Total liabilities 7,966,139 7,966,139 261,544 29,396 2,157,340 – –
DEFERRED INFLOWS 202,757 202,757 – – – – – – – –
Net differences between projected and actual
investment earnings 102,619
Difference in assumptions 66,950
Differences between expected and actual experience 35,374
Changes in employer proportion and differences
between contributions and proportionate share of
contributions 84,194 84,194 – – – – – – – –
Total deferred inflows of resources 491,894 286,951 – – – – – – – –
NET POSITION
Net investment in capital assets 8,322,625 8,322,625 239,093 2,775 – – 853,350
Restricted for:
Debt service – – – – – – – –
Capital projects – – – – – – 75,554 – –
Other purposes – – – – – – 202,348 966,545
Unrestricted 10,439,672 10,439,672 848,436 2,075,218 824,993 – –
Total net position $ 18,762,297 $ 18,762,297 $ 1,087,529 $ 2,077,993 $ 1,102,895 $ 1,819,895
Total liabilities and net position $ 26,728,435 $ 26,728,435 $ 1,349,073 $ 2,107,389 $ 3,260,236 $ 1,819,895
The notes to the financial statements are an integral part of this statement.
FAYETTE COUNTY, WEST VIRGINIA
STATEMENT OF ACTIVITIES
For the Fiscal Year Ended June 30, 2021
Net (Expense) Revenues and
Program Revenues Changes in Net Position Component Units Charges Operating Capital Primary Government Urban Farmland
for Grants and Grants and Governmental Business-type Health Public Renewal Protection
Expenses Services Contributions Contributions Activities Activities Total Department Library Authority Board
Functions / Programs
Primary government:
Governmental activities:
General government $ 4,914,897 $ 2,329,816 $ – – $ – – $ ( 2,585,080) $ $ ( 2,585,080)
Public safety 7,020,832 – – – – – – ( 7,020,832) ( 7,020,832)
Health and sanitation 25,639 – – – – – – ( 25,639) ( 25,639)
Administrative and general 1,500 – – – – – – ( 1,500) ( 1,500)
Culture and recreation 620,297 – – – – – – ( 620,297) ( 620,297)
Benefits paid – – – – – – – – – – – –
Insurance premiums – – – – – – – – – – – –
Social services 19,500 – – – – – – ( 19,500) ( 19,500)
Capital projects 300,032 – – – – – – ( 300,032) ( 300,032)
Interest on long-term debt ( 0) – – – – – – 0 0
Total governmental activities 12,902,695 2,329,816 – – – – ( 10,572,879) ( 10,572,879)
Total primary government $ 12,902,695 $ 2,329,816 $ – – $ – – ( 10,572,879) – – ( 10,572,879)
Component units:
Board of Health 1,461,884 – – – – – – – – – – – – $ ( 1,461,884) $ – – $ – – $ – –
Public Libraries 1,878,148 – – – – – – – – – – – – – – ( 1,878,148) – – – –
Urban Renewal Authority 168,322 – – – – – – – – – – – – – – – – ( 168,322) – –
Farmland Protection Bd 504,721 – – – – – – – – – – – – – – – – – – ( 504,721)
– – – – – – – – – – – – – – – – – – – – – –
Total component units $ 4,013,075 $ – – $ – – $ – – – – – – – – ( 1,461,884) ( 1,878,148) ( 168,322) ( 504,721)
General revenues:
Ad valorem property taxes 9,498,620 – – 9,498,620 – – – – – – – –
Alcoholic beverages tax 3,806 – – 3,806 – – – – – – – –
Utility services tax – – – – – – – – – – – – – –
Hotel occupancy tax 624,717 – – 624,717 – – – – – – – –
Animal tax 3,024 – – 3,024 – – – – – – – –
Gas and oil severance tax 55,150 – – 55,150 – – – – – – – –
Amusement tax – – – – – – – – – – – – – –
Other taxes 395,019 – – 395,019 – – – – – – – –
Coal severance tax 333,562 – – 333,562 – – – – – – – –
Licenses and permits 137,621 – – 137,621 – – – – – – – –
Intergovernmental:
Federal 2,164,464 – – 2,164,464 – – – – – – – –
State 1,011,121 – – 1,011,121 – – – – – – – –
Local – – – – – – – – – – – – – –
Unrestricted investment earnings 28,848 – – 28,848 – – – – – – – –
Refunds 1,356,605 – – 1,356,605 – – – – – – – –
Reimbursement 53,900 – – 53,900 – – – – – – – –
Net gain(loss) on sale of investments – – – – – – – – – – – – – –
Restricted investment earnings – –
Contributions from other entities – – – – – – – – – – – – – –
Gain on sale of capital assets – – – – – – – – – – – – – –
Unallocated depreciation – – – – – – – – – – – – – –
Miscellaneous 604,913 – – 604,913 – – – – – – – –
Transfers – – – – – – – – – – – – – –
Total general revenues 16,271,369 – – 16,271,369 – – – – – – – –
Change in net position 5,698,491 – – 5,698,491 ( 1,461,884) ( 1,878,148) ( 168,322) ( 504,721)
Net position – beginning 13,063,806 – – 13,063,806 – – – – – – – –
Net position – ending $ 18,762,297 $ – – $ 18,762,297 $ ( 1,461,884) $ ( 1,878,148) $ ( 168,322) $ ( 504,721)
The notes to the financial statements are an integral part of this statement.
FAYETTE COUNTY, WEST VIRGINIA
BALANCE SHEET – GOVERNMENTAL FUNDS
June 30, 2021
Coal American Other Nonmajor Total
Severance 911 Law Fire Rescue Governmental Governmental
General Tax Fund Levy Levy Plan Funds Funds
ASSETS AND DEFERRED
OUTFLOWS
Assets:
Current:
Cash and cash equivalents $ 4,945,188 $ 65,403 $ 1,492,454 $ 291,465 $ 2,622,176 $ 4,118,930 1,361,837 $ 14,897,453
Investments 143,536 137,589 389,574 248,738 1,213,260 – – 21,503 2,154,200
Receivables:
Taxes 207,625 – – – – 35,282 51,868 – – 16,116 310,890
Accounts – – – – – – – – – – – – – – – –
Grants – – – – – – – – – – – – – – – –
Loans – – 80,759 – – – – – – – – 7,939 88,698
Accrued interest – – – – – – – – – – – – – – – –
Due from:
Other funds 6,455 – – – – – – – – – – – – 6,455
Total assets 5,302,804 283,751 1,882,029 575,484 3,887,303 4,118,930 1,407,395 17,457,697
Total assets and deferred
outflows of resources $ 5,302,804 $ 283,751 $ 1,882,029 $ 575,484 $ 3,887,303 $ 4,118,930 1,407,395 $ 17,457,697
LIABILITIES, DEFERRED INFLOWS AND FUND BALANCES
Liabilities:
Accounts payable – – – – – – – – – – – – – – – –
Payroll payable 74,193 – – – – – – – – – – – – 74,193
Compensated absences payable – – – – – – – – – – – – – –
Due to:
Other funds – – – – – – – – – – – – 1,021 1,021
Other governments – – – – – – – – – – – – – – – –
Liabilities payable from restricted
assets – – – – – – – – – – – – – – – –
Total liabilities 74,193 – – – – – – – – – – 1,021 75,214
Deferred Inflows:
Unavailable revenue – taxes 135,171 – – – – 22,970 34,124 – – 10,492 202,757
– – – – – – – – – – – – – – – –
Total deferred inflows of resources 135,171 – – – – 22,970 34,124 – – 10,492 202,757
Total liabilities and deferred inflows
of resources 209,364 – – – – 22,970 34,124 – – 11,513 277,971
Fund balances:
Nonspendable – – – – – – – – – – – – – – – –
Restricted – – – – 1,882,029 – – – – 4,118,930 1,409,366 7,410,325
Committed 2,068,174 – – – – – – – – – – – – 2,068,174
Assigned 283,751 – – – – – – – – – – 283,751
Unassigned 6,718,431 – – – – – – – – – – – – 6,718,431
Total fund balances 8,786,604 283,751 1,882,029 – – – – 4,118,930 1,409,366 16,480,680
Total liabilities, deferred inflows
and fund balances $ 8,995,969 $ 283,751 $ 1,882,029 $ 22,970 $ 34,124 $ 4,118,930 1,420,879 $ 16,758,651
The notes to the financial statements are an integral part of this statement.
FAYETTE COUNTY, WEST VIRGINIA
RECONCILIATION OF THE BALANCE SHEET – GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET POSITION
June 30, 2021
Total fund balances on the governmental fund’s balance sheet $ 16,480,680
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 ) 8,322,625
Other long-term assets that are not available to pay for current-year expenditures and therefore are deferred in the funds. (Note ) – –
Certain revenues are not available to fund current year expenditures and therefore are deferred in the funds. (Note ) 202,757
Deferred inflows and outflows related to pension and OPEB activity are not required to be reported in the funds but are required to be reported at the government-wide level (Note VIII):
Deferred outflow (inflow) – Changes in employer portion and differences between contributions and proportionate share of contributions. ( 4,434)
Deferred outflow – Employer contributions after measurement date. 125,074
Deferred outflow (inflow) – Net differences between projected and actual investment earnings. ( 102,619)
Deferred outflow (inflow) – Differences between expected and actual experience. ( 25,125)
Deferred outflow (inflow) – Differences in assumptions. ( 66,950)
Long-term liabilities are not due and payable in the current period and therefore are not reported in the funds. (Note ) ( 5,312,627)
Net position of governmental activities $ 19,619,381
The notes to the financial statements are an integral part of this statement.
FAYETTE COUNTY, WEST VIRGINIA
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES –
GOVERNMENTAL FUNDS
For the Fiscal Year Ended June 30, 2021
Coal American Other Nonmajor Total
Severance 911 Law Fire Rescue Governmental Governmental
General Tax Fund Levy Levy Plan Funds Funds
REVENUES
Taxes:
Ad valorem property taxes $ 7,608,225 $ – – $ – – $ 1,293,485 $ – – $ – – $ 596,910 $ 9,498,620
Alcoholic beverages tax 3,806 – – – – – – – – – – – – 3,806
Utility services tax – – – – – – – – – – – – – – – –
Hotel occupancy tax 624,717 – – – – – – – – – – – – 624,717
Animal tax – – – – – – – – – – – – 3,024 3,024
Gas and oil severance tax 55,150 – – – – – – – – – – – – 55,150
Other taxes 367,389 – – – – – – – – – – – – 367,389
Coal severance tax – – 152,123 – – – – – – – – 181,439 333,562
Licenses and permits 118,690 – – – – – – – – – – 18,931 137,621
Intergovernmental:
Federal 1,972,344 – – – – – – – – – – 192,120 2,164,464
State 331,116 – – 638,091 9,390 – – – – 32,525 1,011,121
Local – – – – – – – – – – – – – – – –
Charges for services 641,394 – – 1,370,799 – – – – – – 17,815 2,030,008
Fines and forfeits 126,113 – – – – – – – – – – 173,696 299,809
Interest and investment earnings 19,980 1,098 2,427 2,421 – – – – 2,922 28,848
Refunds 833,737 449,592 73,263 – – – – – – 13 1,356,605
Reimbursements – – – – – – – – – – 53,900 53,900
Payments in lieu of taxes 23,617 – – – – 4,013 – – – – – – 27,630
Contributions and donations 15,000 – – – – – – – – 317,450 332,450
Miscellaneous 146,830 – – 395 23 – – – – 125,215 272,463
Total revenues 12,888,108 602,813 2,084,975 1,309,333 – – – – 1,715,958 18,601,186
EXPENDITURES
Current:
General government 3,981,753 82,940 – – – – – – – – 552,095 4,616,788
Public safety 3,170,604 133,203 1,800,332 1,587,629 – – – – 41,467 6,733,235
Streets and transportation – – – – – – – – – – – – – –
Health and sanitation 14,132 10,600 – – – – – – – – – – 24,732
Administrative and general – – – – – – – – – – – – 1,500 1,500
Culture and recreation 567,795 – – – – – – – – – – – – 567,795
Benefits paid – – – – – – – – – – – – – – – –
Insurance premiums – – – – – – – – – – – – – – – –
Social services – – 19,500 – – – – – – – – – – 19,500
Capital outlay – – 453,379 – – – – – – – – 74,557 527,936
Debt service:
Principal – – – – – – – – – – – – 33,968 33,968
Interest – – – – – – – – – – – – 93,293 93,293
Bond issuance costs – – – – – – – – – – – – – – – –
Total expenditures 7,734,284 699,622 1,800,332 1,587,629 – – – – 796,879 12,618,746
Excess (deficiency) of revenues
over expenditures 5,153,824 ( 96,809) 284,642 ( 278,297) – – – – 919,079 5,982,440
OTHER FINANCING
SOURCES (USES)
Transfers in 403,043 401,415 – – 428,152 – – – – 151,221 1,383,831
Transfers (out) ( 832,027) – – ( 128,752) ( 6,800) ( 10,000) – – ( 406,230) ( 1,383,808)
Long-term debt issued
(bonds/notes) – – – – – – – – – – – – – – – –
Proceeds from the
sale of assets – – – – – – – – – – – – – – – –
Capital leases – – – – – – – – – – – – – – – –
Total other financing
sources (uses) ( 428,984) 401,415 ( 128,752) 421,352 ( 10,000) – – ( 255,009) 23
Net change in fund balances 4,724,840 304,606 155,891 143,055 ( 10,000) – – 664,070 5,982,463
Fund balances – beginning 4,061,764 – – – – – – – – – – 1,497,952 5,559,716
Fund balances – ending $ 8,786,604 $ 304,606 $ 155,891 $ 143,055 $ ( 10,000) $ – – $ 2,162,022 $ 11,542,178
The notes to the financial statements are an integral part of this statement.
FAYETTE 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, 2021
Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances – total governmental funds $ 5,982,463
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 ) 227,904
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 ). ( 411,210)
The net effect of various miscellaneous transactions involving capital assets (i.e., sales, trade-ins, and donations) is to decrease net position. (Note ) – –
Donations of capital assets increase net position in the statement of activities, but do not appear in the governmental funds because they are not financial resources. (Note ) – –
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. – –
Prior year unavailable/unearned revenues: _____________
Current year unavailable/unearned revenues: _____________
Certain pension and OPEB expenses in the statement of activities are recognized on the accrual basis of accounting.
Amount of pension expenditures at fund level (Note VI) 75,488
Amount of OPEB expenditures at fund level (Note VII) 49,586
Amount of pension expenses recognized at government-wide level (Note VI) ( 549)
Amount of OPEB expenses recognized at government-wide level, net of special funding support provided by the State (Note VII) ( 34,034)
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 ) – –
Change in net position of governmental activities $ 5,889,647
The notes to the financial statements are an integral part of this statement.