Municipality of Beckley, West Virginia
Statement of Activities
For the Year Ended June 30, 2019
Net (Expense) Revenue
Program Revenues and Changes in Net Position
Operating Grants, Primary Government Component Unit
Charges Contributions Capital Grants Governmental Business-Type Beckley Sanitary
Primary Government Expenses for Services and Interest and Contributions Activities Activities Total Board
Governmental Activities:
General Government $4,965,072 $26,716 $- $- $(4,938,356) $- $4,965,072 $- Public Safety 10,935,373 331,679 1,394,653 113,443 (9,095,598) – (9,095,598) –
Streets and Transportation 4,009,470 – – – (4,009,470) – (4,009,470) –
Health and Sanitation 90,419 – – – (90,419) – (90,419) –
Culture and Recreation 1,095,937 – – – (1,095,937) – (1,095,937) –
Social Services 3,351 – – – (3,352) – (3,352) –
Total Governmental Activities 21,099,622 358,395 1,394,653 113,443 (19,233,132) – (19,233,132) –
Business-Type Activities:
Parking 1,215,041 311,458 – – – (903,583) (903,583) –
Parks and Recreation 3,414,026 1,324,579 613,052 – – (1,476,395) (1,476,395) –
Building Commission 1,225,177 1,321,266 – – – 96,089 96,089 –
Total Business-Type Activities 5,854,244 2,957,303 613,052 – – (2,283,889) (2,283,889) –
Total Primary Government 26,953,866 3,315,698 2,007,705 113,443 (19,233,132) (2,283,889) (21,517,021) –
Component Unit
Beckley Sanitary Board $7,659,912 $7,728,173 $179,119 $- $- $- $- $247,380
General Revenues
Ad Valorem Taxes 3,214,369 – 3,214,369 –
Business & Occupation Tax 10,813,921 – 10,813,921 –
Consumer Sales Tax 5,920,512 – 5,920,512
Alcoholic Beverage Tax 223,842 – 223,842 –
Utility Services Tax 770,656 – 770,656 –
Hotel Occupancy Tax 958,238 – 958,238 –
Gas and Oil Severance Tax 36,998 – 36,998 –
Other Taxes 595,883 – 595,883 –
Coal Severance Tax 54,601 – 54,601 –
Interest Income 16,491 28,877 45,368 73,600
Refunds 416,339 – 416,339 –
Gain on Sale of Capital Assets 8,013 (1,264) 6,749 –
Insurance Claims 31,536 31,536 –
Miscellaneous 242,009 9,981 251,990 133,636
Total General Revenues 23,303,408 37,594 23,341,002 207,236
Transfers (2,789,267) 2,789,267 – –
Change in Net Position 1,281,009 542,972 1,823,981 454,616
Net Position Beginning of Year (39,240,040) 25,775,844 (13,464,196) 25,353,205
Net Position End of Year $(37,959,031) $26,318,816 $(11,640,215) $25,807,821
Muncipality of Beckley, West Virginia
Statement of Net Position
June 30, 2019
Primary Government Component Type
Business- Beckley
Governmental Type Sanitary
Activities Activities Total Board
Assets
Current:
Cash and Cash Equivalents $5,580,397 $298,636 $5,879,033 $986,552
Receivables: 91,958
Accounts Receivable, Net – – – 509,763
Taxes Receivable 4,526,579 513 4,527,092 1,435
Other – – – –
Fines 57,013 – 57,013 –
Due From: 10,440
Other Governments 637,763 – 637,763
Internal Balances 200,603 64,104 264,707
Inventory – 97,920 97,920 45,852
Prepaid Expense – 44,475 44,475 96,096
Total Current Assets 11,002,355 505,648 11,508,003 1,639,698
Noncurrent:
Restricted Assets:
Regular Acccount – 26,779 26,779 1,036,496
Reserve Account – 67,093 67,093 2,545,939
Customer Deposits – 8,449 8,449 157,288
Renewal and Replacement – 37,260 37,260 636,960
Total Restricted Assets – 139,581 139,581 4,376,683
Capital Assets:
Non-Depreciable:
Land 3,067,475 6,451,868 9,519,343 271,900
Copyright – 3,500 3,500 –
Construction in Progress 114,121 349,845 463,966 13,876,264
Depreciable:
Buildings 1,342,360 36,030,348 37,372,708 23,033,197
Structures and Improvements 897,678 2,497,581 3,395,259 38,327,715
Infrastructure 3,727,756 – 3,727,756 –
Software 293,971 – 293,971 97,425
Machinery and Equipment 19,675,460 977,436 20,652,896 4,107,698
Less: Accumulated Depreciation (19,927,489) (10,112,662) (30,040,151) (31,763,008)
Total Capital Assets, Net 9,191,332 36,197,916 45,389,248 47,951,191
Total Assets 20,193,687 36,843,145 57,036,832 53,967,572
Deferred Outflow of Resources:
Deferred Outflow – Refunding – 56,420 56,420 –
Deferred Outflow – Pension 6,916,638 146,431 7,063,069 277,825
Deferred Outflow of Resources 6,916,638 202,851 7,119,489 277,825
Total Assets Plus Deferred Outflows of Resources
$27,110,325 $37,045,996 $64,156,321 $54,245,397
Liabilities
Current:
Accounts Payable $1,174,745 $146,817 $1,321,562 $943,912
Payroll Payable 369,914 70,586 440,500 54,128
Benefits Payable 27,759 22,451 50,210 9,406
Other Accrued Expenses – – – 49,942
Compensated Absences Payable 162,180 6,038 70,317 168,218 24,465
Customer Deposits – 9,656 9,656 166,872
Due to Other Funds 73,379 66,044 139,423 5,431
Seized Funds 60,295 – 60,295 –
Total Current Liabilities 1,868,272 321,592 2,189,864 1,254,156
Long-Term Liabilities Due Within One Year:
Current Portion of Bonds Payable – 473,743 473,743 1,565,869
Current Portion of Leases Payable 207,804 – 207,804 72,390
Long-Term Due in More than One Year:
Bonds Payable – 9,204,886 9,204,886 23,080,242
Leases Payable 743,405 – 743,405 84,823
Compensated Absences Payable 1,624,753 70,643 1,695,396 220,184
Net Pension Liability 45,442,673 182,641 45,625,314 414,062
OPEB Liability 7,811,786 351,485 8,163,271 1,625,940
Total Long-Term Liabilities 55,830,421 10,283,398 66,113,819 27,063,510
Total Liabilities 57,698,693 10,604,990 68,303,683 28,317,666
Deferred Inflow of Resources
Deferred Inflow – Pension 7,328,850 120,309 7,449,159 111,207
Deferred Inflow – OPEB 41,813 1,881 43,694 8,703
Total Deferred Inflow of Resources 7,370,663 122,190 7,492,853 119,910
Total Liabilities Plus Deferred Inflows of Resources
65,069,356 10,727,180 75,796,536 28,437,576
Net Position
Net Investment in Capital Assets 8,240,122 22,438,746 30,678,868 18,311,057
Restricted for Debt Service – 82,713 82,713 3,582,435
Restricted for Renewal and Replacement – 62,281 62,281 636,960
Restricted for Customer Deposits – – – 157,288
Unrestricted (Deficit) (46,199,153) 3,735,076 (42,464,077) 3,120,081
Total Net Position (37,959,031) 26,318,816 (11,640,215) 25,807,821
Total Liabilities, Deferred Inflows of Resources and Net Position
$27,110,325 $37,045,996 $64,156,321 $54,245,397
Municipality of Beckley, West Virginia
Balance Sheet
Governmental Funds
June 30, 2019
Other Total
Coal Governmental Governmental
General Severance Funds Funds
Assets
Cash and Cash Equivalents $5,014,050 $120,584 $445,760 $5,580,394
Receivables: –
Taxes 4,508,725 17,855 – 4,526,580
Fines 57,013 – – 57,013
Due From:
Other Funds 200,056 – 547 200,603
Other Governments 637,763 – – 637,763
Total Assets $10,417,607 $138,439 $446,307 $11,002,353
Liabilities and Fund Balances
Liabilities
Accounts Payable $1,174,742 $- $60,295 $1,235,037
Payroll Payable 369,914 – – 369,914
Benefits Payable 27,759 – – 27,759
Compensated Absences Payable 162,180 – – 162,180
Due to Other Funds 34,752 – 38,626 73,378
Total Liabilities 1,769,347 – 98,921 1,868,268
Deferred Inflows of Resources
Property Taxes 44,622 – – 44,622
Unavailable Revenue – Other 106,644 – – 106,644
Total Deferred Inflows of Resources 151,266 – – 151,266
Total Liabilties and Deferred Inflow of Resources
1,920,613 – 98,921 2,019,534
Fund Balances
Assigned 1,537,447 138,439 347,386 2,023,272
Unassigned 6,959,547 – – 6,959,547
Total Fund Balances 8,496,994 138,439 347,386 8,982,819
Total Liabilities, Deferred Inflows of Resources and Fund Balances
$10,417,607 $138,439 $446,307 $11,002,353
Municipality of Beckley, West Virginia
Reconciliation of Total Governmental Fund Balances to
Net Position of Governmental Activities
June 30, 2019
Total Governmental Fund Balances $8,982,819
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 therefore are not reported in the funds. 9,191,332
Other long-term assets are not available to pay for current-
period expenditures are therefore are deferred in the funds:
Ad Valorem Taxes 44,622
Police Fines 57,013
Other 49,631
Total 151,266
The net pension liability is not due and payable in the
current period; therefore, the liability and related deferred
inflows and outflows are not reported in governmental funds.
Net Pension Liability (45,442,673)
Deferred Inflows – Pension (7,328,850)
Deferred Ouflows – Pension 6,916,638
Total (45,854,885)
The net other post employment benefit liability is not due and payable
in the current period; therefore, the liability and related deferred inflows
and outflows are not reported in governmental funds.
Net OPEB Liability (7,811,786)
Deferred Inflows – OPEB (41,813)
Total (7,853,599)
Some liabilities are not due and payable in the current
period and therefore are not reported in the funds:
Capital Leases (951,209)
Compensated Absences (1,624,755)
Total (2,575,964)
Net Position of Governmental Activities $(37,959,031)
Municipality of Beckley, West Virginia
Statement of Revenues, Expenditures and Changes in Fund Balances
Governmental Funds
June 30, 2019
Other Total
Coal Governmental Governmental
General Severance Funds Funds
Revenues
Taxes:
Ad Valorem Property Tax $3,214,830 $- $- $3,214,830
Business and Occupancy Tax 10,853,841 – – 10,853,841
Alchohlic Beverage Tax 223,842 – – 223,842
Consumer Sales 5,920,512 5,920,512
Utility Services Tax 770,656 – – 770,656
Hotel Occupancy Tax 958,238 – – 958,238
Other Taxes 595,883 – – 595,883
Severance Tax 36,998 54,601 – 91,599
Licenses and Permits 184,620 – – 184,620
Intergovernmental:
Federal 1,244,797 – – 1,244,797
State 30,000 – 93,829 123,829
Charges for Services 26,716 – – 26,716
Fines and Forfeits 227,892 – – 227,892
Interest and Investment Earnings 14,368 679 1,444 16,491
Refunds and Reimbursements 416,339 – – 416,339
Insurance Claims 31,536 – – 31,536
Contributions and Donations 257,123 – – 257,123
Miscellaneous 33,579 – – 33,579
Total Revenues 25,041,770 55,280 95,273 25,192,323
Expenditures
Current:
General Government 4,030,149 – – 4,030,149
Public Safety 10,685,000 – 4,733 10,689,733
Streets and Transportation 4,157,516 – – 4,157,516
Health and Sanitation 95,095 – – 95,095
Culture and Recreation 1,095,937 – – 1,095,937
Social Services 3,351 – – 3,351
Capital Outlay 2,604,537 – 38,627 2,643,164
Total Expenditures 22,671,585 – 43,360 22,714,945
Excess of Revenues Over (Under) Expenditures
2,370,185 55,280 51,913 2,477,378
Other Financing Sources (Uses)
Proceeds from Sale of Capital Assets 15,751 – – 15,751
Transfers In 60,000 – 50,632 110,632
Transfers Out (2,839,899) (50,000) (10,000) (2,899,899)
Total Other Financing Sources (Uses) (2,764,148) (50,000) 40,632 (2,773,516)
Net Change in Fund Balances (393,963) 5,280 92,545 (296,138)
Fund Balances Beginning of Year 8,890,957 133,159 254,841 9,278,957
Fund Balances End of Year $8,496,994 $138,439 $347,386 $8,982,819
Muncipality of Beckley, West Virginia
Reconciliation of the Statement of Revenues, Expenditures and Changes
in Fund Balances of Governmental Funds to the Statement of Activities
June 30, 2019
Net Change in Fund Balances – Total Governmental Funds $(296,138)
Amounts reported for governmental activities in the
statement of activities are different because:
Governmental funds report capital outlays as expenditures. However, in the statement
of activities, the cost of those assets is allocated over their estimated useful lives as
depreciation expense. In the current period, these amounts are:
Capital Outlay 1,868,829
Depreciation (929,046)
Excess of Capital Outlay over Depreciation Expense 939,783
Governmental funds only report the disposal of assets to the extent proceeds are
received from the sale. In the statement of activities, a gain or loss is reported for
each disposal. This is the amount of the proceeds and the gain on the disposal of assets:
Proceeds from Sale of Capital Assets
Loss on Sale of Capital Assets (7,738)
(7,738)
Revenues in the statement of activities that do not provide current
financial resources are not reported as revenues in the funds:
Ad Valorem Taxes (461)
Police Fines 9,958
Municipal Licenses (39,920)
Prior year Federal Government Grant deferral (17)
Total (30,440)
Expenses in the statement of activities that do not provide current
financial resources are not reported as expenses in the funds:
Long Term Compensated Absences 472,362
Total 472,362
Repayment of debt principal is an expenditure in the governmental funds, but
the repayment reduces long-term liabilities in the statement of net position:
Capital Lease Payments 203,180
Total 203,180
Change in Net Position of Governmental Activities $1,281,009
Municipality of Beckley, West Virginia
Statement of Fund Net Position
Enterprise Funds
June 30, 2019
Total
Parking Parks and Building Enterprise
Revenue Recreation Commission Funds
Assets
Current:
Cash and Cash Equivalents $26,363 $140,685 $131,587 $298,635
Receivables:
Taxes Receivable – 512 – 512
Due From:
Other Funds 64,104 0 3,449 67,553
Inventory – 97,920 – 97,920
Prepaid Expense 36,475 8,000 – 44,475
Total Current Assets 126,942 247,117 135,036 509,095
Noncurrent:
Restricted Assets:
Regular Account 26,779 – – 26,779
Reserve Account 67,093 – – 67,093
Renewal and Replacement 45,709 – – 45,709
Total Restricted Assets 139,581 – – 139,581
Capital Assets:
Non-Depreciable:
Land 3,265,590 127,434 3,058,844 6,451,868
Copyright – 3,500 – 3,500
Construction in Process – 119,907 229,938 349,845
Depreciable:
Buildings 88,525 3,879,043 32,062,780 36,030,348
Structures and Improvements 736,338 1,745,529 15,714 2,497,581
Machinery and Equipment 71,895 877,942 27,600 977,437
Less: Accumulated Depreciation (527,943) (3,103,959) (6,480,760) (10,112,662)
Total Capital Assets, Net 3,634,405 3,649,396 28,914,116 36,197,917
Total Assets 3,900,928 3,896,513 29,049,152 36,846,593
Deferred Outflow of Resources:
Deferred Outflow – Refunding 56,420 – – 56,420
Deferred Outflow – Pension 40,983 105,448 – 146,431
Total Deferred Outflow of Resources 97,403 105,448 – 202,851
Total Assets Plus Deferred Outlflows of Resources
$3,998,331 $4,001,961 $29,049,152 $37,049,444
Liabilities
Current:
Accounts Payable $9,440 $135,523 $1,852 $146,815
Payroll Payable 2,472 68,114 – 70,586
Other Accrued Expenses 916 21,535 – 22,451
Compensated Absences Payable 626 5,412 – 6,038
Customer Deposits 9,656 – – 9,656
Due to Other Funds 942 68,551 69,493
Current Portion of Bonds Payable 95,000 – 378,743 473,743
Total Current Liabilities 119,052 299,135 380,595 798,782
Long-Term:
Compensated Absences Payable 3,345 67,299 – 70,644
Bonds Payable 655,000 – 8,549,885 9,204,885
Net Pension Liability 47,566 135,075 – 182,641
OPEB Liability 75,463 276,022 – 351,485
Total Long-Term Liabilities 781,374 478,396 8,549,885 9,809,655
Total Liabilities 900,426 777,531 8,930,480 10,608,437
Deferred Inflow of Resources
Deferred Inflow – PERS 37,427 82,882 – 120,309
Deferred Inflow – OPEB 404 1,477 – 1,881
Total Deferred Inflow of Resources 37,831 84,359 – 122,190
Total Liabilities Plus Deferred Inflows of Resources
938,257 861,890 8,930,480 10,730,627
Net Position
Net Investment in Capital Assets 2,986,773 3,576,338 15,875,635 22,438,746
Restricted for Debt Services 93,872 – – 93,872
Restricted for Renewal and Replacement 45,709 – – 45,709
Unrestricted (66,280) (436,267) 4,243,037 3,740,490
Total Net Position 3,060,074 3,140,071 20,118,672 26,318,817
Total Liabilities,Deferred Inflows of Resources and Net Position
$3,998,331 $4,001,961 $29,049,152 $37,049,444
Municipality of Beckley, West Virginia
Statement of Revenues, Expenses
and Changes in Fund Net Position
Enterprise Funds
For the Year Ended June 30, 2019
Total
Parking Parks and Building Enterprise
Revenue Recreation Commission Funds
Operating Revenues
Sales and Services to Customers $311,458 $1,324,579 $1,321,266 $2,957,303
Other Operating Revenues – 9,987 – 9,987
Total Operating Revenues 311,458 1,334,566 1,321,266 2,967,290
Operating Expenses
Personnel Services 107,226 1,398,399 – 1,505,625
Contractual Services 15,880 276,772 – 292,652
Administrative and General 45,999 104,245 26 150,270
Rents – 724 – 724
Liability Insurance 188,476 52,585 – 241,061
Materials and Supplies 13,179 572,526 – 585,705
Utilities 57,907 238,356 – 296,263
Depreciation 62,521 221,430 869,935 1,153,886
Maintenance – 95,818 – 95,818
Capital Outlay 672,661 513,151 1,185,812
Amortization 8,060 – (1,448) 6,612
Total Operating Expenses 1,171,909 3,474,006 868,513 5,514,428
Operating Income (Loss) (860,451) (2,139,440) 452,753 (2,547,138)
Non-Operating Revenues (Expenses)
Interest Revenue – 351 28,526 28,877
Interest and Fiscal Charges (43,132) (11,555) (356,666) (411,353)
Intergovernmental – 563,708 – 563,708
Contributions 19,434 – 19,434
Operating Grants – 28,985 – 28,985
Proceeds from Sale of Capital Assets (1,264) 0 – (1,264)
Total Non-Operating Revenues (Expenses) (44,396) 600,923 (328,140) 228,387
Income (Loss) Before Transfers (904,847) (1,538,517) 124,613 (2,318,751)
Transfers In 912,236 1,386,776 562,712 2,861,724
Change in Net Position 7,389 (151,741) 687,325 542,973
Net Position Beginning of Year 3,052,685 3,291,812 19,431,347 25,775,844
Net Position End of Year $3,060,074 $3,140,071 $20,118,672 $26,318,817
Municipality of Beckley, West Virginia
Statement of Fiduciary Net Position – Fidiciary Funds
June 30, 2019
Pension Trust Funds Agency Funds
ASSETS
Cash and Deposits $1,079,379 $139,803
Investments, at fair value: 41,761,438 351,696
Receivables:
Fines, net – 81,504
Due from other funds
Accounts receivable – other 91,595 –
Total receivables 91,595 81,504
TOTAL ASSETS $42,932,412 $573,003
LIABILITIES
Accounts payable – 39,733
Due to primary government – 169,818
Due to other governments – 9,745
Total liabilities – 219,296
NET POSITION
Net position held in trust for pension benefits 42,932,412 353,707
TOTAL LIABILITIES AND NET POSITION $42,932,412 $573,003
Municipality of Beckley, West Virginia
Statement of Changes in Fiduciary Net Position – Fiduciary Funds
For the Fiscal Year Ended June 30, 2019
Pension Trust Funds Agency Funds
ADDITIONS
Contributions:
Employer $1,520,693 $-
State 992,403 –
Employee 419,497 –
Other Funds – 400,002
Total contributions 2,932,593 400,002
Investment income:
Net appreciation (depreciation) (129,460) –
Net realized gain (loss) on sale or exchange 1,879,611 –
Interest and dividends 1,386,882 2,476
Net investment income 3,137,033 2,476
Total additions 6,069,626 402,478
DEDUCTIONS
Benefit payments 3,569,434 268,377
Pension plan administrative expense 142,673 9
Refunds 92,547 –
Total deductions 3,804,654 268,386
CHANGE IN NET POSITION 2,264,972 134,092
NET POSITION HELD IN TRUST FOR PENSION BENEFITS
BEGINNING OF YEAR 40,667,440 219,615
END OF YEAR $42,932,412 $353,707
ID: 305620