PENDLETON COUNTY, WEST VIRGINIA, BOARD OF EDUCATION
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES – GOVERNMENTAL FUNDS
General Capital
Current Special Projects Total
Expense Revenue Fund Governmental
Revenues:
Property taxes $ 2,282,972 $ – $ – $ 2,282,972
Other Local sources 184,346 142,374 243 326,963 State sources 9,095,861 833,915 4,797,264 14,727,041 Federal sources 448,445 1,190,658 – 1,639,103
Total revenues 12,011,624 2,166,947 4,797,507 18,976,079
Expenditures:
Instruction 6,422,401 803,576 – 7,225,977
Supporting services:
Students 628,553 67,576 – 696,128
Instructional staff 304,918 389,535 – 694,453
General administration 397,171 – – 397,171
School administration 670,718 8,447 – 679,165
Central Services 258,019 1,340 – 259,359
Operation and maintenance of facilities 1,144,656 21,299 – 1,165,955
Student transportation 1,407,661 4,347 – 1,412,008
Other support services 8,291 – – 8,291
Food services 48,233 795,507 – 843,740
Community services 15,800 – – 15,800
Capital outlay – 92,534 5,311,101 5,403,635
Debt service:
Principal retirement 166,654 26,750 – 193,404
Interest and fiscal charges 8,436 2,555 – 10,990
Total expenditures 11,481,512 2,213,464 5,311,101 19,006,077
Excess (deficiency) of revenues over
expenditures 530,112 (46,517) (513,594) (29,998)
Other financing sources (uses):
Transfers in 13,333 259,108 204,143 476,584
Transfers (out) (463,251) (13,333) – (476,584)
Total other financing sources (uses) (449,918) 245,775 204,143 –
Extraordinary Item:
Other post employment benefits: – – – –
Net change in fund balances 80,194 199,258 (309,451) (29,999)
Fund balances – beginning (447,826) 237,158 128,880 (81,788)
Prior period adjustments – (See Note _) – – –
Fund balances – beginning, as restated (447,826) 237,158 128,880 (81,788)
Fund balances – ending $ (367,632) $ 436,416 $ (180,571) $ (111,787)
PENDLETON COUNTY BOARD OF EDUCATION
SUPPLEMENTAL SCHEDULE OF
EXPENDITURES
FOR THE FISCAL ENDED JUNE 30, 2015
Salaries expenditures:
Board officials:
James D. “JD” Wilkins $ 3,840
Richard “Rick” Gillespie 4,000 Teresa Heavner 3,840
Betty Kimble 3,520
Ivan “Sonny” O’Neil 3,840
Superintendent 104,999
Total salaries paid to other professional
personnel 5,080,744
Total salaries paid to service personnel 1,872,265
Total salary expenditures 7,077,048
Non-salary expenditures:
Expenditures paid in excess of two hundred fifty dollars ($250):
(List the name of each firm, corporation and person to whom more than two hundred fifty dollars ($250) in the aggregate from all funds was paid during the
fiscal year, together with the aggregate amount paid and the purpose for which paid.)
Total non-salary expenditures paid in excess of two
hundred fifty dollars ($250) 10,211,815
PEIA – OPEB Additional Liability – ARC 13,285
Retirement – Additional Liability –
State of WV 1,594,188
Tools for Schools Technology Allocation 30,551
Total non-salary expenditures paid of less than two
hundred fifty dollars ($250) 18,147
Total accrued expenditures, refunds, and other
non-cash transactions 61,043
Total non-salary expenditures 11,929,029
Total expenditures per financial
statements $ 19,006,077
TOTAL PAYMENTS TO VENDORS
IN EXCESS OF $250 — FISCAL YEAR 2015
AASA THE SUPERINTENDENTS ASSC. 447 ABSOLUTE ASSURANCE DRUG 672 AET EWELL EDUCATIONAL SERVICES 265 AGILE SPORTS TECHNOLOGIES 800 AIRGAS USA, LLC 1137 ALAN TYE AND ASSOCIATES 630 ALT, JAMES 1980 AMAZON.COM. 4300 AMERICAN SPEECH &HEARING ASS0C 250 AMSTERDAM PRINTING & LITHO C. 569 APEX CLEANING SUPPLY INC. 12399 APPALACHIAN SIGNALS & PRODUCTS 30334 APPLIED PRACTICE, LTD. 941 ASPEN PUBLISHERS, INC. 533 AT&T 5533 ATCO INTERNATIONAL 733 ATLANTIC OIL COMPANY, INC. 180350 ATTAINMENT COMPANY 836 AUMANN’S CUSTOM AUTO 2316 AUTO-JET MUFFLER CORP. 3477 B & H HARDWARE & SUPPLY 4974 B. E. PUBLISHING 275 BANK OF MOUNT HOPE, INC. 38459 BARNES & NOBLE BOOKSTORES INC. 564 BATSON, AMY 388 BATTERIES PLUS 1092 BEATTY, WILLIAM 4694 BENNETT ANN 1008 BIG “L” TIRE 7921 BIG RIVER ELECTRIC SALES & SVS 2283 BIMBO FOODS INC. 6962 BLACKBOARD INC. 1656 BLACKS PAINT & FLOOR COVERING 2846 BLACKWELL ENGINEERING, PLC 3200 BLANKENSHIP NANCY 371 BLANKENSHIP, MICHAEL 40984 BLANKENSHIP, VICKI 706 BLOSSMAN GAS 60455 BLUE BIRD BUS SALES 8727 BOTKIN, DOUG 430 BOWERS GARAGE 1300 BOWLES RICE LLP 13373 BOWMANS DO IT BEST HARDWARE 2123 BRANDYWINE ELEMENTARY SCHOOL 2200 BREWER & COMPANY OF WV, INC. 800 BSN SPORTS 4713 BUCHER DONALD 3678 BUNZL KOCH SUPPLIES 745 BUREAU FOR PUBLIC HEALTH 450 BYTESPEED L.L.C. 67847 CAMPBELL PRINT CENTER 926 CANAAN VALLEY LODGING 1266 CAROLINA BIOLOGICAL SUPPLY CO. 320 CDW-GOVERMENT, INC., 4687 CENTRAL RESTAURANT PRODUCTS 4061 CHARLESTON TOWNCENTER MARRIOTT 685 CITY CONSTRUCTION COMPANY, INC 4469695 CLASSROOM DIRECT CO. 1332 CLAY EWELL EDUCATION SERVICES 265 CLEAN AIR TESTING SERVICES LLC 1595 COLOR YOUR TRAY 973 COMMUNICATION CARE, LLC 55800 CONNOR, JOHN L. 4106 CONSOLIDATED PUBLIC RETIREMENT — BOE 1098 CORE ENVIRONMENTAL SERVICE 2000 COSTCO 7429 COVE RUN CONTRACTING, LLC 3732 CRISIS PREVENTION INSTITUTE 492 CTB/MCGRAW-HILL COMPANIES 1725 CUSTOMINK 412 DAYS INN – FLATWOODS 481 DE LAGE LANDEN PUBLIC FINANCE 32583 DEP – DIVISON OF WATER & WASTE 482 DHHR 5519 DILLON SUPPLY COMPANY 893 DINSMORE AND SHOHL LLP 1630 DURANKO, MS. KELLI GAINER 650 EAI EDUCATION 1415 EASON, AMY 15225 EASON, DAVE 368 EAST-WEST PRINTING 366 EASTERN WV COM.& TECH.COLLEGE 1000 ECK SUPPLY COMPANY 1200 EHRLICH 2927 ELECTRIC MOTOR SALES & SER.INC 445 ELECTRONIC SPECIALITY CO. 4398 ELEVATING EQUIP. INS. SER. 625 EMBASSY SUITES CHARLESTON 4715 ENTERPRISE RENT A CAR 2239 ENVIRONMENTAL SOLUTIONS 536 ENYART, NANCY 429 ESCHOOL SOLUTIONS 3000 EXXON/GECC 9905 EZ FUND.COM 660 FAIRFIELD INN & SUITES 1278 FIRST BANK OF CHARLESTON, INC. 79352 FISHER AUTO PARTS INC., 1379 FLAGHOUSE 266 FLINN SCIENTIFIC 7333 FLYING W FARMS 11971 FOLLETT SCHOOL SOLUTIONS, INC. 1300 FRANKLIN ELEMENTARY SCHOOL 5447 FRANKLIN GREAT VALU 6244 FRONTIER 10281 FRONTIER DATA CIRCUITS 106077 GAMETIME 14988 GARDNER, DONNA S. 923 GEARY ASSOCIATES 4100 GILLESPIE, RICHARD D. 282 GLADES SPRING RESORT 587 GLOBAL RECOVERY SERVICES 3214 GRANT MEMORIAL HOSPITAL 560 GREER LIME COMPANY 4939 HAHN MEDICAL PRACTICES, INC. 405 HAMMER, MICHAEL 3309 HARDY COUNTY SCHOOLS 1200 HARPER, RICHARD S. 378 HAVE FUN TEACHING 278 HAWK SECURITY SYSTEM INC., 350 HEALTH EDCO 500 HEAVNER, TRAVIS 724 HEDRICK, CHARLES F. 753 HEVENER, JOHNNY 280 HEVENER, NICOLE 261 HIGHWAY MOTORS, INC., 45671 HOBART SERVICE 873 HOLIDAY INN – MARTINSBURG 747 HOOTEN EQUIPMENT COMPANY LLC 113667 HUDSON, RONALD, JR. 1955 HULL, STEPHANIE D. 426 HUMPHREYS, A.F. III (ALVY) 350 H20 TEC, INC. 895 IMAGE EXPRESS 569
INTERNAL REVENUES SERVICE (FICA) –
EMPLOYER 513606
IT SAVVY 4035 J & J REMODELING 1433 J & L’S RECONDITIONING 478 J.T. MARTIN FIRE & SAFETY 1093 JAMES & LAW COMPANY 37106 JAMES P. GEARY LAW OFFICE 3532 JENKINS, FRANCES 19129 JOHN KINDERMAN TAYLOR 560 JOHNNY’S TOWING 1300 JONES SCHOOL SUPPLY CO.,INC., 333 JOSTENS INC. 1267 KAR KARE 1587 KATHY TALLEY, LLC 500 KILMER’S FARM MARKET 41132 KIMBALL MIDWEST 2975 KISAMORE, TIM 623 KREIDER FOUR SEASONS EQUIP.INC 344 LAKESHORE LEARNING MATERIALS 971 LAM, MS. KONJA A. 313 LAMBERT, DENNIS 366 LAMBERT, DOUGLAS 4493 LAWSON PRODUCTS INC., 338 LIBERTY DISTRIBUTORS, INC. 13728 LIPSCOMBS LAWN PRODUCTS 380 LOGMEIN, INC. 399 LOOKOUT BOOKS 285 LOWES HOME CENTER 322 MACGILL 424 MARTINSBURG SERVICE CTR 5374 MASON & BARRY INC. 57883 MASTER SERVICE MID-ATLANTIC 6720 MATHENY MOTOR TRUCK CO. 1795 MENDTRONIX 596 MILLER SPEECH LANGUAGE THERAPY 250 MILLER, MELISSA 2910 MONONGAHELA POWER 185270 MORRIS DISTRIBUTING, INC. 560 MOUNTAIN AIR,HEATING & COOLING 18698 MOUNTAIN METAL FAB, LLC 3601 MOUNTAINEER INSURANCE SERVICES 981 MOUNTAINEER LINE STRIPING LLC 1300 MOWERY, J.P. 1475 MURPHY’S FENCING 3103 NASCO 1403 NATIONAL COUNCIL OF TEACHERS 600 NATIONAL TITLE I ASSOC. CONF. 4641 NAUMAN, RACHEL 925 NCTM (NATIONAL COUNCIL OF MATH
TEACHERS) 547 NESSELRODT, CARRIE 523 NETWORKS & MORE, INC. 627 NORTH FORK DISPOSAL SVC, LLC 21660 NORTH FORK ELEMENTARY SCHOOL 2030 NORTHSTAR ENVIRONMENTAL, LTD 14900 OMNI ASSOCIATES-ARCHITECTS,INC 100021 ORIENTAL TRADING CO., INC., 902 OTIS ELEVATOR COMPANY 4200 PACIFIC LATEX PRODUCTS 555 PAP’S LUMBER & RENTAL 590 PARTS & MORE 4608 PEARSON 4296 PEARSON EDUCATION INC. 1144 PEER SANITATION SERVICE 3313 PEIA HEALTH INSURANCE 862557 PEIA RETIREE HEALTH INSURANCE 94832 PENDLETON CO. HIGH SCHOOL 8555 PENDLETON COMMNUNITY CARE 1575 PENDLETON COMMUNITY BANK 54000 PENDLETON COUNTY HEALTH DEPT. 1600 PENDLETON COUNTY LIBRARY 6065 PENDLETON COUNTY PSD – BW 3991 PENDLETON COUNTY PSD – NFES 3175 PENDLETON COUNTY PSD-NFES-PAVI 327 PENDLETON COUNTY PSD-NFES/GYM 1150 PENDLETON TIMES 3810 PERFECTION LEARNING 429 PERMA-BOUND BOOKS 929 PETERSBURG ELECTRONICS 12339 PIFER OFFICE SUPPLY 1906 PITNEY BOWES 5582 PLEASANTS HARDWARE 3706 POLING, MS. APRIL N. 5966 POMEROY COMPUTER RESOURCES 248452 POTOMAC FARMS DAIRY 36779 POTOMAC HIGHLANDS REC CENTER 822 PPIMC (PARLIAMENTARY PROCEDURE) 352 PRESTWICK HOUSE, INC. 279 PRO-ED, INC. 594 PROFESSIONAL MEDIA GROUP LLC 350 PROPST, KAREN 852 PURELAND SUPPLY 1370 PUTTING “ON” THE RTIZ 257 QUEEN CITY BUSINESS SYS 8614 QUILL CORP. 401 R.M HUFFMAN COMPANY 768 REALLY GOOD STUFF 294 RENAISSANCE LEARNING, INC. 17718 RESA VIII 17606 RESOURCES FOR EDUCATION 563 RETIREE HEALTH BENEFIT TRUST FUND 291729 REXRODE, MIKE G. 19452 RICE, JAMIE H. 2604 RIDDLEBERGER BROS. INC., 5022 RIVANNA EQUIPMENT COMPANY 466 RLI SURETY 813 RODGERS, JENNY 11488 RODGERS, VIRGINIA 7569 RON’S CARPET SERVICE 433 ROSIER, WILLIAM 4860 RUDDLE, SHEILA 410 RUTHERFORD JANITOR SUPPLY CORP 40481 SADDLEBACK EDUCATIONAL, INC., 345 SCHOLASTIC BOOKS, INC., 1063 SCHOOL MESSENGER 2520 SCHOOL SPECIALTY INC. 1540 SCHOOL THERAPY SERVICES 54746 SCHOOLDUDE.COM 5542 SEE, HOLLY 1443 SENIOR COMMUNITY SER.EMP.PROG. 5000 SGC CONSULTING, LLC 280 SHANK WHOLESALERS INC., 5080 SHEETZ ADVANTAGE 1457 SHIFFLER 338 SHIRK CONSTRUCTION 3500 SIMMONS AUTO PARTS & SERVICES 679 SIMMONS BACKFLOW SERVICES 385 SIMPLEX-GRINNELL 1875 SITES AUTO PARTS CO. 1764 SITES FIRE & SAFETY EQUIPMENT 1441 SITES, TRENTON D 429 SKYLINE ROOFING 6058 SLEEP INN – CHARLESTON 2605 SMART HORIZON 1585 SMITH, DIANA B. 1753 SOURCE 4 1210 SOUTH BRANCH CAREER & TECH CENTER 30580 SOUTHERN REFRIGERATION CORP. 5646 SOUZA PAINTING 944 SPANGLER PAPER COMPANY 1495 SPRUCE KNOB SENECA ROCKS TEL. 2966 STAPLES 572 STAPLES ADVANTAGE 23278 STATE FIRE MARSHAL 250 STONEWALL RESORT 760 STOUT COMPANY 583 SUBWAY 1119 SUNNYSIDE SOLUTIONS 600 SUNRISE SANITATION SERVICES 500 SUPERIOR TEXT 6092 SWECKER, GARY 421 TELTRONIC 3013 TETRICK & BARTLETT 17900 TEXAS REFINERY CORP. 3210 THE MOUNTAIN INSTITUTE – FLOW
THROUGH 66250 THYSSENKRUPP ELEVATOR CORP 4691 TOUCHTONE COMMUNICATIONS 833 TOWN OF FRANKLIN 23852 TRA SCHOOL SOFTWARE SOLUTIONS 2280 TRANSLUX 5258 TRAVELERS CL REMITTANCE CENTER 49532 TREASURE BAY INC. 599 TRIVEDI CHEMISTRY, INC. 835 TRUCK – THERMO KING, INC. 778 TRUCK ENTERPRISES-KEYSER 4035 TURNER, HELAN D. 816 U.S. FOODSERVICE-ALTOONA DIV 259731 UNDERGROUND DYNAMICS, LLC 7165 UNITED BANKCARD CENTER 589 UNITED – TITLE I 2106 USI, INC. 897 VANCE, MR. MATTHEW 822 VERIZON BUSINESS SERVICES 4560 VINCELL, SHELBA D. 298 VIRCO INC. 255277 VIRGINIA SCHOOL EQUIPMENT CO. 590 VIRGINIA TRUCK CENTER 23566 WAGNER, COURTNEY 256 WAL MART 5356 WARNER, JERRY M. 6000 WATERFRONT PLACE HOTEL 2729 WEISER EDUCATIONAL 286 WEST VIRGINIA PAVING, INC. 34962 WESTFIELD INSURANCE 2238 WHITE, TINA 300 WHITEROCK EXCAVATING, LLC 645 WINGATE BY WYNDHAM-CHARLESTON 411 WINGATE INN – CLARKSBURG 1166 WOMACK ELECTRIC SUPPLY 932 WOODBURN PRESS, LTD 575 WORLDWIDE INTERACTIVE NETWORK 2500 WV AHPERD (WV ASSOC FOR HEALTH 320 WV ASSOCIATION SCHOOL ADM. 1125 WV BOARD OF RISK & INS. MGMT. 62827 WV CENTER FOR PROF.DEVELOPMENT 1350 WV CORRECTIONAL INDUSTRIES 746 WV DEPT. OF AGRICULTURE 765 WV ELECTRIC SUPPLY COMPANY 823 WV READING ASSOCIATION (WVRA) 920 WV SCHOOL BOARDS ASSOCIATION 5486 WV STATE AUDITOR 1192 WV TEACH. DEF. BEN. RETIREMENT 1B 345485 WV TEACH. DEF. BEN. RETIREMENT 1A 269724 WV TEACH. DEF. CONT. RETIREMENT 9334 WV UNIVERSITY COOPERATIVE EXTENSION 4800 WV ASSOC FOR PUPIL TRANS. 1050 WVASBO 415 WVCTM (WV COUNCIL OF TEACHERS) 1010 WVNET 530 WVSTA 565 10211815
PENDLETON COUNTY, WEST VIRGINIA,
BOARD OF EDUCATION
STATEMENT OF NET POSITION
FYE JUNE 30, 2015
Governmental
Activities
ASSETS AND DEFERRED OUTFLOWS OF
RESOURCES
Assets:
Cash and cash equivalents $ 554,922
Investments –
Taxes receivable, net of allowance for
uncollectible taxes 69,050
Deposit with Retirement Board 10,966
Food services receivable 21,102 Other receivables 170,149
Prepaid Workers’ Compensation 1,648
Due from other governments:
State aid receivable 65,696 PEIA allocation receivable 201,494 Reimbursements receivable 438,667 Capital Assets:
Land 469,867
Land Improvements 315,445
Buildings and improvements 33,339,735
Furniture and equipment 1,726,935
Vehicles 2,166,005
Construction in process –
Less accumulated depreciation (9,379,210)
Total capital assets, net of
depreciation 28,638,777
Total assets 30,172,471
Deferred outflows of resources: – Total deferred outflows of
resources –
Total assets and deferred
outflows of resources $ 30,172,471
LIABILITIES, DEFERRED OUTFLOWS
OF RESOURCES, AND NET POSITIONS
Liabilities:
Salaries payable and related
payroll liabilities 646,543
PEIA premiums payable 197,913
Compensated absences 89,606
Accounts payable 153,298
Other post employment benefit payable 519,483
Due to Other Fiscal Agents –
Long-term obligations:
Due within one year:
Bonds, capital leases, and contracts 188,113
Accrued interest –
QZAB payable 55,000
Due beyond one year:
Bonds, capital leases, and contracts 381,099
QZAB payable 715,000
Total liabilities 2,946,055
Deferred inflows of resources: 0
Total deferred inflows of
resources 0
Total liabilities and deferred
inflows of resources $ 2,946,055
Net Position:
Net Investment in Capital Assets $ 27,299,565
Restricted for:
Debt service –
Special projects 436,416
Capital projects (180,571)
Unrestricted (328,995)
Total net position $ 27,226,414
PENDLETON COUNTY, WEST VIRGINIA, BOARD OF EDUCATION
STATEMENT OF ACTIVITIES
Program Revenues Net (Expense)
Operating Capital Revenue & Changes
Charges for Grants and Grants and in Net Assets
Expenses Services Contributions Conributions Governmental
Functions Activities
Governmental activities:
Instruction $ 7,784,492 $ 393,887 $ 440,479 $ 1,880,323 $ (5,069,803)
Supporting services:
Students 696,128 35,185 39,347 167,966 (453,630)
Instructional staff 773,904 39,129 43,758 186,794 (504,223)
General administration 404,434 20,447 22,865 97,608 (263,514)
School administration 679,165 34,355 38,419 164,002 (442,389)
Central services 259,359 13,078 14,625 62,430 (169,226)
Operation and maintenance of facilities 8,382,652 423,986 474,139 2,024,010 (5,460,517)
Student transportation 1,531,005 77,428 86,587 369,623 (997,367)
Other support services 8,291 415 464 1,982 (5,430)
Food services 857,456 – – – (857,456)
Community services 15,800 – – – (15,800)
Interest on long-term debt 10,990 – – – (10,990)
Total governmental activities 21,403,677 1,037,910 1,160,683 4,954,738 (14,250,346)
General revenues:
Property taxes 2,364,784
Unrestricted state aid 9,411,420
Unrestricted investment earnings 2,090
Unrestricted grants and contributions 38,383
Extraordinary item – other post employment benefits –
Construction in Process 7,192,861 Transfers in 476,584
Transfers (out) (476,584)
Total general revenues, extraordinary items and transfers 19,009,538
Change in net assets 4,759,192
Net assets – beginning 22,467,222
Prior period adjustments – (See Note_) –
Net position- beginning, as restated 22,467,222
Net position – ending $ 27,226,414
See Notes to Financial Statements
PENDLETON COUNTY, WEST VIRGINIA, BOARD OF EDUCATION
BALANCE SHEET – GOVERNMENTAL FUNDS
FYE June 30, 2015
General Special Capital
Current Revenue Projects Total
Expense Fund Fund Governmental
ASSETS AND DEFERRED OUTFLOWS OF RESOURCES
Assets:
Cash and cash equivalents $ 661,495 $ 18,447 $ (125,021) $ 554,922
Taxes receivable, net 69,050 – – 69,050
Deposit with Retirement Board 10,966 – – 10,966
Prepaid Workers’ Comp 1,648 – – 1,648
Food service receivable, net – 21,102 – 21,102
Other receivables 170,149 – – 170,149
Due from other governments:
State aid receivable 65,696 – – 65,696
PEIA allocation receivable 201,494 – – 201,494
Reimbursements receivable – 438,667 – 438,667
Due from other funds – – – –
Total assets 1,180,498 478,217 (125,021) 1,533,694
Deferred Outflows of Resources – – – –
Total deferred outflows of resources – – – –
TOTAL ASSETS PLUS DEFERRED OUTFLOWS
OF RESOURCES $ 1,180,498 $ 478,217 $ (125,021) $ 1,533,694
LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
Liabilities:
Salaries payable and related payroll liabilities $ 646,543 $ – $ – $ 646,543
Other post employment benefits payable 519,483 – – 519,483
PEIA premiums payable 197,913 – – 197,913
Accounts payable & Payable to others 55,946 41,801 55,551 153,298
Total liabilities 1,419,885 41,801 55,551 1,517,237
Deferred inflows of resources 128,244 – – 128,244
Total deferred inflows of resources 128,244 – – 128,244
Fund Balances:
Nonspendable – – – –
Restricted – 436,416 (180,571) 255,845
Committed – – – –
Assigned – – – –
Unassigned (367,632) – – (367,632)
Total fund balances (367,632) 436,416 (180,571) (111,787)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND BALANCES $ 1,180,498 $ 478,217 $ (125,021) $ 1,533,694
PENDLETON COUNTY, WEST VIRGINIA,
BOARD OF EDUCATION
RECONCILIATION OF THE STATEMENT OF
REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
Net change in fund balances – total
governmental funds $ (29,999)
Amounts reported for governmental activities in the statement of activites are different due to:
Governmental funds report capital outlays as expenditures.
However, in the statement of net assets, the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. The effect on net assets is the amount by which capital outlays exceed depreciation in the current period.
Depreciation expense (794,515)
Construction in Process (7,192,861) Capital outlays 12,596,496
Certain receivables will be collected this year but are not available soon enough to pay for the current period’s expenditures. This is the amount by which such receivables increased (decreased).
Property taxes receivable 81,812
Operating Grants and Contibutions (87,882)
The repayment of the principal of long-term debt (e.g. bonds, leases) consumes the current financial resources of governmental funds. However, such repayment has no effect on net assets. 193,404
Compensated absences are reported as liabilities in the statement of net assets, but are only reported in government funds to the extent they have matured. This is the amount by which compensated absences (increased)/decreased.
Accrued vacation payable (7,263)
Change in net assets of governmental
activities $ 4,759,192
STATE OF WEST VIRGINIA
COUNTY OF PENDLETON, TO WIT;
We, the undersigned President and Secretary of the Board of Education of the County of PENDLETON, hereby state under oath that the preceding attached financial statements of the funds of the Pendleton COUNTY Board of Education as of and for the fiscal year ended June 30, 2015 are true and accurate to the best of our knowledge and belief. However, these statements are unaudited and thereby subject to change.
J D Wilkins
President
Douglas S. Lambert
Secretary
Subscribed and sworn to before me in my said County, the 22nd day of September, 2015.
Lisa D. Jamison
Notary Public
My commission expires on the 12th day of September, 2020.