HAMPSHIRE COUNTY, WEST VIRGINIA BOARD OF EDUCATION
BALANCE SHEET – GOVERNMENTAL FUNDS
FYE JUNE 30, 2025
65
11 61 Special 71 21 31 41
General Special Revenue Special Revenue Debt Bond Permanent Current Revenue School Activity ESSERF Service Construction Improvement Total
Expense Fund Fund Fund Fund Fund Fund Governmental
ASSETS AND DEFERRED OUTFLOWS OF RESOURCES
Assets:
Cash and cash equivalents $3,442,936 $ 719,693 $ 1,094,625 $ – $ – $ – $ 191,000 $ 5,448,254
Investments 1,077,919 – – – 2,035,543 – – 3,113,462
Taxes receivable, net 205,440 – – – 36,373 – – 241,813
Prepaid Workers’ Comp 895 – – – – – – 895
Food service receivable, net – 61,056 – – – – – 61,056
Other receivables 202,253 17,016 – – – 6,373,188 – 6,592,457
Other prepaid expenses 40,556 – – – – – – 40,556
Due from other governments:
PEIA allocation receivable 639,020 – – – – – – 639,020
Reimbursements receivable – 801,239 – – – – – 801,239
Due from other funds 943,051 – – – – – – 943,051
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Total assets 6,552,070 1,599,004 1,094,625 – 2,071,916 6,373,188 191,000 17,881,803
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Deferred outflows of resources – – – – – – – –
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Total deferred outflows of resources – – – – – – – –
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TOTAL ASSETS PLUS DEFERRED
OUTFLOWS OF RESOURCES $6,552,070 $ 1,599,004 $ 1,094,625 $ – $ 2,071,916 $ 6,373,188 $ 191,000 $ 17,881,803
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LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
Liabilities:
Salaries payable and related payroll liabilities $2,735,514 $ 372,485 $ – $ – $ – $ – $ – $ 3,107,999
PEIA premiums payable 499,283 84,852 – – – – – 584.135
Accounts payable & Payable to others 290,364 191,721 – – – 651,821 – 1,133,906
Due to other funds – – – – – 943,051 – 943,051
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Total liabilities 3,525,161 649,058 – – – 1,594,872 – 5,769,091
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Deferred inflows of resources 127,397 55,403 – – 36,373 5,562,805 – 5,781,978
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Total deferred inflows of resources 127,397 55,403 – – 36,373 5,562,805 – 5,781,978
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Fund Balances:
Nonspendable 41,451 – – – – – – 41,451
Restricted – 894,543 1,094,625 – 2,035,543 – 191,000 4,215,711
Assigned 2,161,666 – – – – – – 2,161,666
Unassigned 696,395 — — — – (784,489) – (88,094)
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Total fund balances 2,899,512 894,543 1,094,625 – 2,035,543 (784,489) 191,000 6,330,734
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TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND BALANCES $6,552,070 $ 1,599,004 $ 1,094,625 $ – $ 2,071,916 $ 6,373,188 $ 191,000 $ 17,881,803
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Reconciliation of Balance Sheet Fund Balances of Governmental Funds to Statement of Net Position FYE June 30, 2025
Amounts reported for governmental activities in the statement of net position differ due to:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds 88,163,776
Right-of-use assets used in governmental activities are not financial resources and, therefore, are not reported in the funds 776,813
Other deferred charges are not reported in the funds 5,570,340
Property taxes receivable and food service billings receivable will be collected this year but are not available soon enough to pay for the current period’s expenditures, and are therefore deferred in the funds 211,638
Deferred outflows and inflows of resources related to pensions and OPEB are applicable to future periods and, therefore, are not reported in the funds
Deferred outflows of resources related to pensions 484,378
Deferred inflows of resources related to pensions (114,229)
Deferred outflows of resources related to OPEB 186,659
Deferred inflows of resources related to OPEB (90,097)
Some liabilities, including net pension and OPEB obligations, are not due and payable in the current period and, therefore, are not reported in the funds
Bonds payable, due within one year (2,600,000)
Bonds payable, due beyond one year (13,910,000)
Unamortized bond premium (768,886)
Accrued interest on bonds (27,517)
Accrued sick leave payable –
Compensated absences (1,722,785)
Net pension liability – proportionate share (1,106,329)
Net OPEB liability – proportionate share 23,388
Asset Retirement Obligation (ARO) Liability –
Finance lease liability, due within one year (60,898)
Finance lease liability, due beyond one year (99,640)
Financed purchases and other, due within one year –
Financed purchases and other, due beyond one year –
SBITA liability, due within one year (49,199)
SBITA liability, due beyond one year (174,730)
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Net position of governmental activities $ 81,023,416
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