WYOMING COUNTY, WEST VIRGINIA, BOARD OF EDUCATION
STATEMENT OF NET POSITION
FYE JUNE 30, 2022
Governmental
Activities
ASSETS AND DEFERRED OUTFLOWS OF RESOURCES
Assets: Cash and cash equivalents $14,497,194
Investments 1,462,944
Inventory –
Taxes receivable, net of allowance for uncollectible taxes 8,760,847
Deposit with Retirement Board 180,054
Food service receivable 23,069
Lease receivable –
Other receivables 707
Prepaid Workers’ Compensation –
Other prepaid expenses 23,564
Due from other governments:
State aid receivable 98,505
PEIA allocation receivable 540,348
Reimbursements receivable 5,127,884
Capital Assets:
Land 803,377
Land improvements –
Buildings and improvements 84,244,658
Furniture and equipment 11,494,751
Vehicles 6,666,468
Construction in process –
Less accumulated depreciation (45,040,398)
Total capital assets, net of depreciation 58,168,856
Right-of-Use Assets:
Land –
Buildings –
Equipment 242,002
Vehicles –
Less accumulated amortization (63,669)
Total finance lease assets, net of amortization 178,333
Total assets 89,162,305
Deferred outflows of resources:
Pension 905,566
Other post employment benefit (OPEB) 267,333
Other –
Total deferred outflows of resources 1,172,899
Total assets and deferred outflows of resources $90,335,204
LIABILITIES, DEFERRED OUTFLOWS OF RESOURCES, AND NET POSITION
Liabilities:
Salaries payable and related payroll liabilities $3,139,615
PEIA premiums payable 675,895
Compensated absences –
Accounts payable 2,712
Other post employment benefit payable –
Due to Other Fiscal Agents –
Long-term obligations:
Due within one year:
Bonds and contracts 522,847
Accrued interest –
Accrued sick leave payable –
Finance lease liability 64,397
Due beyond one year:
Bonds and contracts 5,024,105
Accrued sick leave payable –
Finance lease liability 117,202
Asset retirement obligation (ARO) liability –
Net pension liability – Proportionate Share 957,171
Net other post employment benefit (OPEB) liability – Proportionate Share 19,393
Total liabilities 10,523,337
Deferred inflows of resources:
Pension 1,509,162
Other post employment benefit (OPEB) 1,373,630
Other –
Total deferred inflows of resources 2,882,792
Total liabilities and deferred inflows of resources $13,406,129
Net Position:
Net Investment in Capital Assets 52,621,904
Restricted for:
Debt service –
Special projects 5,570,354
Capital projects –
Unrestricted 18,736,817
Total net position $76,929,075
WYOMING COUNTY, WEST VIRGINIA, BOARD OF EDUCATION
STATEMENT OF ACTIVITIES
FYE JUNE 30, 2022
Program Revenues Net (Expense),
Operating Capital Revenue & Changes
Charges for Grants and Grants and in Net Position
Functions Expenses Services Contributions Contributions Governmental Activities
Governmental activities:
Instruction $26,677,511 $196,748 $13,516,046 $- $(12,964,717)
Supporting services:
Students 2,682,086 27,686 1,358,867 – (1,295,533)
Instructional staff 1,268,607 13,095 642,734 – (612,778)
General administration 909,115 9,384 460,599 – (439,132)
School administration 1,944,562 20,073 985,204 – (939,285)
Central services 833,027 8,599 422,050 – (402,378)
Operation and maintenance of facilities 6,035,282 62,299 3,057,750 – (2,915,233)
Student transportation 3,153,040 32,547 1,597,474 – (1,523,019)
Other support services – – – – –
Food services 3,283,234 – 23,069 – (3,260,165)
Community services 182,691 – – – (182,691)
Interest on long-term debt/finance leases 139,259 – – – (139,259)
Total governmental activities 47,108,414 370,431 22,063,793 – (24,674,190)
General revenues:
Property taxes 20,334,364
Unrestricted state aid 10,806,279
Unrestricted investment earnings 13,910
Unrestricted grants and contributions 298,575
Extraordinary item – other post employment benefits –
Gain (loss) on disposal of capital assets –
Gain (loss) on termination of ROU assets –
Transfers in 1,038,018
Transfers (out) (1,038,018)
Total general revenues, extraordinary items and transfers 31,453,128
Change in neposition 6,778,938
Net position – beginning 68,802,586
Prior period adjustments – (See Note __) 1,347,551
Net position – beginning, as restated 70,150,137
Net position – ending $76,929,075
WYOMING COUNTY, WEST VIRGINIA, BOARD OF EDUCATION
BALANCE SHEET – GOVERNMENTAL FUNDS
FYE JUNE 30, 2022
Special
General Special Revenue Special Revenue Debt Bond Permanent Capital
Current Revenue School Activity ESSERF Service Construction Improvement Projects Total
Expense Fund Fund Fund Fund Fund Fund Fund Governmental
ASSETS AND DEFERRED OUTFLOWS OF RESOURCES Assets:
Cash and cash equivalents $9,997,181 $1,576,597 $1,368,660 $- $- $- $1,554,756 $- $14,497,194
Investments 1,462,944 – – – – – – – 1,462,944
Inventory – – – – – – – – –
Taxes receivable, net 8,450,596 – – – – – 310,251 – 8,760,847
Deposit with Retirement Board 180,054 – – – – – – – 180,054
Prepaid Workers’ Comp – – – – – – – – –
Food service receivable, net – 23,069 – – – – – – 23,069
Lease Receivable – – – – – – – – –
Other receivables 707 – – – – – – – 707
Other prepaid expenses 23,564 – – 23,564
Due from other governments:
State aid receivable 198,505 – – – – – – – 198,505
PEIA allocation receivable 540,348 – – – – – – – 540,348
Reimbursements receivable – 3,053,835 – 2,074,049 – – – – 5,127,884
Due from other funds 1,934,222 – – – – – – – 1,934,222
Total assets 22,788,121 4,653,501 1,368,660 2,074,049 – – 1,865,007 – 32,749,338
Deferred outflows of resources – – – – – – – – –
Total deferred outflows of resources – – – – – – – – –
TOTAL ASSETS PLUS DEFERRED
OUTFLOWS OF RESOURCES $22,788,121 $4,653,501 $1,368,660 $2,074,049 $- $- $1,865,007 $- $32,749,338
LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
Liabilities: Salaries payable and related payroll liabilities $2,769,290 $256,181 $- $114,144 $- $- $- $- $3,139,615 Other post employment benefits payable – – – – – – – – – PEIA premiums payable 552,345 97,867 – 25,683 – – – – 675,895 Accounts payable & Payable to others 2,712 – – – – – – – 2,712 Due to other fiscal agents – – – – – – – Due to other funds – – – 1,934,222 – – – – 1,934,222 Total liabilities 3,324,347 354,048 – 2,074,049 – – – – 5,752,444
Deferred inflows of resources 8,340,193 23,069 – – – – 306,198 – 8,669,460 Total deferred inflows of resources 8,340,193 23,069 – – – – 306,198 – 8,669,460
Fund Balances: Nonspendable 203,618 – – – – – – – 203,618 Restricted 24,506 3,973,570 1,368,660 – – – – – 5,366,736 Committed – – – – – – – – – Assigned 1,232,077 302,814 – 1,748,003 – – 1,211,045 – 4,493,939 Unassigned 9,663,380 – – (1,748,003) – – 347,764 – 8,263,14 Total fund balances 11,123,581 4,276,384 1,368,660 – – – 1,558,809 – 18,327,434
TOTAL LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES $22,788,121 $4,653,501 $1,368,660 $2,074,049 $- $- $1,865,007 $- $32,749,338
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 58,168,856
Finance lease assets used in governmental activities are not financial resources and, therefore, are not reported in the funds 178,333 Other deferred charges are not reported in the funds – 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 8,669,460
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 905,566 Deferred inflows of resources related to pensions (1,509,162) Deferred outflows of resources related to OPEB 267,333 Deferred inflows of resources related to OPEB (1,373,630)
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 (522,847)
Bonds payable, due beyond one year (5,024,105)
Unamortized bond premium –
Accrued interest on bonds –
Accrued sick leave payable –
Compensated absences –
Net pension liability – proportionate share (957,171)
Net OPEB liability – proportionate share (19,393)
Asset Retirement Obligation (ARO) Liability –
Finance lease liability, due within one year (64,397)
Finance lease liability, due beyond one year (117,202)
Net position of governmental activities $76,929,075