FINANCIAL STATEMENT NOTICE

RALEIGH COUNTY BUILDING COMMISSION STATEMENT OF NET ASSETS June 30, 2016 ASSETS Current: Cash and cash equivalents $124,257 Total current assets 124,257 Capital assets: Nondepreciable: Land 708,000 Depreciable: Buildings 18,039,345 Machinery and equipment 457,628 Less: accumulated depreciation (968,784) Total capital assets (net of accumulated depreciation) 18,236,189 Total assets $18,360,446 NET ASSETS Invested in capital assets (net of related debt) 18,236,189 Unrestricted 124,257 Total net assets 18,360,446 Total liabilities and net assets $18,360,446 See accompanying notes to the financial statements. RALEIGH COUNTY BUILDING COMMISSION STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS For the Fiscal Year Ended June 30, 2016 Operating revenues: Rental fees $84,869 Total revenues 84,869 Operating Expenses: Personal services Administrative and general 5,417 Depreciation 136,409 Total operating expenses 141,826 Operating income (loss) (56,957) Nonoperating revenues (expenses): Interest revenue 30 Interest and fiscal charges (6,906) Intergovernmental 1,163,055 Total nonoperating revenues (expenses) 1,156,179 Change in net assets 1,099,222 Net assets at beginning of year 17,261,224 Net assets at end of year $18,360,446 See accompanying notes to the financial statements. RALEIGH COUNTY BUILDING COMMISSION STATEMENT OF CASH FLOWS For the Fiscal Year Ended June 30, 2016 Cash flows from operating activities: Cash received from customers $84,869 Cash paid for goods and services (5,417) Net cash provided (used) by operating activities 79,452 Cash flows from noncapital financing activities: Operating grant 1,163,055 Net cash provided (used) by noncapital financing activities 1,163,055 Cash flows from capital and related financing activities: Acquisition and construction of Principal paid on capital debt (1,207,525) Interest paid on capital debt (6,906) Net cash provided (used) by capital and related financing activities (1,214,431) Cash flows from investing activities: Interest received 30 Net cash provided (used) by investing activities 30 Net increase (decrease) in cash and cash equivalents 28,106 Cash and cash equivalents, July 1, 2013 96,151 Cash and cash equivalents, June 30, 2014 $124,257 Reconciliation of net income to net cash provided by operating activities: Operating income (loss) $(56,957) Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation expense 136,409 Net cash provided by operations $79,452 See accompanying notes to the financial statements. RALEIGH COUNTY BUILDING COMMISSION VENDORS LIST (CASH BASIS) For the Fiscal Year Ended June 30, 2016 First Community Bank 1,214,431 United Bank 233 Stephen Glaser, CPA 4,800 West Virginia State Auditor’s Office 384 1,219,848 10-14-FRI-1-RH; 4512