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The Pocahontas Times
Marlinton, West Virginia
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September 25, 2003     The Pocahontas Times
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September 25, 2003
 

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ije patahentae imeemSeptember 25, 2003---Second Section Page 2 I . Pocahontas County, West Virginia Statement of Activities For the Fiscal Year Ended June 30, 2003 _  Revenues Charges for F, alam Primary Government General government $1,948,226.59 $409,574.00 Public safety $1,088,074.45 $0.00 Health and sanitation $130, I 17.00 $0.00 Culture and recreation $684,308.73 $0.00 Social services $128,092.16 $0.00 Capital projects $24,918.22 $0.00 Total governmental activities Total Primary Government General revenues: Property taxes Other Taxes Licenses and permits Federal State Local Fines and Forfeits Unrestricted interest Miscellaneous Transfers Total General Revenues Change in net assets Net assets-beginning Net assets-ending Statement of Net Assets Net (Expense) Revenues and Changes in Net Assets Primary _ Government Governmental 6xtixlt -$1 H38,652.57 -$1,088,074.45 -$130,117.00 -$684,308.73 -$128,092.16 -$24,918.22 $4,003,737.15 $409H74.02 -$3,594,163.13 ._,_003,7737.15 5702__ : 35$A,AO 63.13 $ ! ,639,415.65 $ 1.025,591.44 $104.00 $487,464.20 $135.383. I I $ ! 13,324.9 I $69,789.13 $30,018.62 $98,837.17 ...... $_123,85446 $4,133,356.71 $129,619.56 $2,353,814.89 $2483434.46 Primary Governmenta Ass.tli Current Assets Cash and cash equivalents Tax Receivables. (net) Other Receivables Total Current Assets $1,185,521.62 $108,466.25 $180,590.89 $1,474H78.76 Non-current Assets: Capital Assets Land Building and Equipment. net of depreciation $25,000.00 $1,045,360.18 $ 1,070,360.18 Total Assets $L5__938=9_4 Liabilities Balances Current Liabilities Accounts payable Compensated absences Noncurrent Liabilities Capital Leases Total liabilities $606.76 $54'767.60 ........ _$i, 13_0:!_3 $6 i ,504.49 iNet Assets Invested in capital assets Unrestricted (deficit) Total Net Assets Total Liabilities and net assets $1,070,360.18 $1,413,074.27 $2,483,434.45 $2,544,938.94 Balance Sheet Assets Cash Receivables. net of Taxes Other Receivables Total Assets Liabilities Current Liabilites Accounts payable Compensated absences Deferred Revenues Taxes Total Liabilities Funds Balanced Unreserved Total Funds Balanced Total liabilities and fund balances Emergency Other Total Coal 911 Governmental Governmental General Sevence Fend Funds Eunda $645,694.08 $110,132.61 $221,299.80 $208,395.13 $1,185,521.62 $108.466.26 $0.00 $0.00 $0.00 $108,466.26 $180.590.89 $0.00 $0.00 $0.00 $ i 80,590.89 $94fl_i_L2_2 $_1_10A 3_26!   $_L474 5_78.76 $606.76 $54,767.60 $100,366.26 $0.00 $0.00 $0.00 $606.76 $0.00 $0.00 $0.00 $54,767.60 $0.00 $0.00 $0.00 $100,366.26 $779,010.60 $779,010.60 $934,75L2 $155.740.62 $110.132.61 $221.299.80 $208.395.13 $1.318,838.14 $ ! i 0, ! 32.61 $221,299.80 $208,395.13 __ $ !_ ,3/8._,838 Ifl_ _LL0,132.61 $2L299.SQ $2_._ 395.13  L474,578.76 Pocahontas County, West Virginia Reconciliation of Balance Sheet to Statement of Net Assets June 30, 2003 Fund balance, fund level statement June 30, 2002 The "Total fund balances of the County's governmental funds differs from "Net Assets of the governmental activities reported on the Statement of Net Assets as follows: I. Some liabilities ate not due and payable in the current period and therefore, are not reported in the fund level statements. Leases 2. Then capital assets (land. buildings, eqmpmem and infrastructure) that are used m governmental activities are" purchased or constructed. the costs of those users ate reported as expenditures in the governmental funds. However, the Statement of Net Assets includes those assets among the assets of the County  a whole. a. Equipment & vehicles towned) Less: accumulated depreciation Equipment - Net of accumulated depreciation b. Buildings Less: accumulated depreciation Buildings - Net of accumulated depreciation c. Contents Less: Accumulated depreciation Contents - Net of accumulated depreciation d. Land 2. Some of the co'nly's revenue will be collei:ted after year-end bet is not available soon gh to I' t perRld's expenditures and therefore are'not rcled in the fettds. a. Deferred taxes,tcelvable ":'-' Net assets ofgovemraental aetiviti  : Statement of Revenues, Expenditures, $222.661.00 -$)80,572.50 $1,321,648.00 -$352,754.38 $132.959.98 -$98,581.92 Revenues Ad valorem property taxes $1,520,131".37 Other taxes $1,005,591.44 Licenses and permits $104.OO lntergovemmental: FlIcral $487,464.20 State $119,462.50 Local $550.OO Charges for services $242,316.13 Interest $ i 5,106,92 Miscellaneous $77,415.58 Fines and Forfeits $750OO and Changes All -Governmental Funds Emergency Other Coal 911 Governmental sttmm  $0,00 $0.00 591,294.54 $0.oo So.oo $o.oo $0.00 $O,OO $0.OO $0.00 $0.00 $O.OO $15,920.61 $0.00 $0.00 $0,00 $0.00 $112,774.91 $0,00 $130,309.45 $36,94&44 $1,954.45 $4,197.09 $8,760.16 $0.00 $0.OO $21,421.59 $0.OO $0.OO $69.039.13 $1,318,838.14 -$6,i30.13 $42,088.50 $968,893.62 $34,378.06 $25,000.00 $100,366.26 $2.3AM.45 in Fund Balances Iatal $ 1,611,425.91 $ 1,025H91.44 $I04.OO Tim's Well Pump & Water Service Z99-48 www.hottubs,com $487,464.20 $135,383.11 ' $113,324.91 $409,574.02 $30,018.62 $98,837.17 $69,789.13 Legal Advertisements Legal)kdvertisements Legal Ad Transfers $ ! 23,854.46 $0.00 $0.00 $0.00 Total Revenue $3,612,746.60 $17,875.06 $134,506.54 $340,238.77 Expenditures Current: General government Public Safety Health and sanitation Culture and recreation Social services Capital Outlay Total Expenditures Excess (deficiency) of revenues over expenditures Fund balances - beginning Fund balances - ending $1,704,468.06 $0.OO $0.00 $205,167.61 $888,799.06 $0.00 $143,774.91 , $38,634.48 $130, I17.00 $0.OO $0,00 $0.00 $684,308.73 $0.130 $0.00 $0.00 $11,861.16 $0.00 $0.00 $116,231.00 $24,918.22 $0.00 $0.00 $0.00 $3,444,472.23 $0.OO $143,774.91 $360,033.09 $168,274.37 $17.875.06 -$9,268.37 -$19,794.32 $610,736.23 $92,257.55 $230.568.17 $228,189.45 $779,010.60 $110,132.61 $221,299.80 $208395.13 Pocahontas County, West Virginia Reconciliation Of The Statement Of Revenues, Expenditures And Changes In Fund Balance Of Governmental Funds To The Statement Of Activities For the Fiscal Year Ended June 30, 2003 Net Changes in Fund Balances - Total Governmental Funds a. The expenditures for capital leases should he receded as an asset instead of an expenditure on the government-wide level. General Government b. Revenue in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds: Prior referred revenues Current Deferred Revenues c. 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 and reported as depreciation expense. General Government Depreciation Buildings $36,793.43 Contents $2,996.84 Equipment $0.00 Public Safety Depreciation Contents $0.00 Equipment $16,866.00 o Changes in net assets of governmental activities Pocahontas County, West Virginia Statement of Reveunues, Expenditures and Changes In Fund Balances - Budget and Actual - General Fund For the Fiscal Year Ended June 30, 2003 Budgeted Amounts Actual Amounts Original  0Budgmtry Basis) Revenues: Ad valorem property taxes $1,559,748.00 $1,560,348.00 $1,520,131.37 Other taxes $593,000.00 $ 1,035,635.00 $ 1,025,591.44 Licenses and permits $0.00 $1 04.00 $104.00 lntergovemmental: Federal $243,000.00 $365,364.00 $487,464.20 State $0.00 $92,662.50 $119,462.50 Local $0.00 $550.00 $550.00 Charges for services $137,060.00 $220,070.00 $242,316.13 Interest $8,000.00 $14,000.00 $ ! 5,106.92 Miscellaneous $53,400.00 $73,986.93 $77,415.58 Fines and Forfeits $6,0OO.00 $9,000.00 $750.00 Trails fers $ I 19,869.00 $137.100.00 $123,854.46 Total revenues . , $2,720,077.00 $3,508,820.43 $3,612,746.60 Expenditures: General government $1,616,373.00 $2,277,354.89 $1,704,468.06 Public safety $787,065.00 $846,391.00 $888,799.06 Health and sanitation $130,200.00 $130,200.00 $130, ! 17.00 Culture and recreation $405,000.00 $755,000.00 $684,308.73 Capital Outlay $0.00 $25,000.00 $24,9 ! 8.22 Total expenditures $2,938,638.00 $4,049,845.89 $3,444,472.23 Excess (deficiency) of revenues over expenditures -$218,561.0 -$541,005.46 $168,274.37 Fund balance at beginning of year $218,56 i .00 $54 ! ,025.46 $610,736.23 Fund balance at end of year . bO.00 __.QIO.60 Statement of Revenues, Expenditures and Changes Revenues: In Fund Balances - Budget and Actual - General Fund In Fund Balance - Budget and Actual - Coal Severance Fund Other Taxes Interest Total revenues Expenditures: General government Total expenditures Excess (deficiency) of revenues over expenditures Fund balance at beginning of year Fund balance at Budgeted Amounts Actual Amounts orig Fa  Mgetary ia "$'7,200.00 $7,200.00 $15,920.61 $850.00 $850.00 $1,954.45 $8.050.00 $8,050.00 $17,875.06 $8,0,50.OO $8,050.00 $0.00 $,050.00 $8,050.00 $0.00 $0.OO $O.OO $0.00 - $0.OO end of year  The notes to the financial statements are an integral part of this statement. $17,875.06 $92257.55 $32,_,6! 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