State of West Virginia
 Department of Administration
 FINANCE DIVISION
2101 Washington Street East, Bldg. 17
 Charleston, WV 25305
304-558-6181

ACCOUNTING CAFR FARS SINGLE AUDIT WVFIMS STAFF DIRECTORY

STATE OF WEST VIRGINIA

COMPREHENSIVE ANNUAL FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED JUNE 30, 2002

TABLE OF CONTENTS

INTRODUCTORY SECTION

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Page
Acknowledgments
Letter of Transmittal x
GFOA Certificate of Achievement xviii
Organizational Chart xix
State of West Virginia Principal Officials

xx

FINANCIAL SECTION

REPORT OF INDEPENDENT AUDITORS 2
MANAGEMENT'S DISCUSSION AND ANALYSIS 4

 

BASIC FINANCIAL STATEMENTS:

   GOVERNMENT-WIDE FINANCIAL STATEMENTS:  
Statement of Net Assets 20
Statement of Activities 22
   FUND FINANCIAL STATEMENTS:  
Balance Sheet - Governmental Funds 25
Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Assets 26
Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 27
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds to the Statement of Activities 28
  Statement of Net Assets - Proprietary Funds 30
Statement of Revenues, Expenses and Changes in Fund Net Assets - Proprietary Funds 32
  Statement of Cash Flows - Proprietary Funds 34
  Statement of Fiduciary Net Assets - Fiduciary Funds 39
  Statement of Changes in Fiduciary Net Assets - Fiduciary Funds 40
  Combining Statement of Net Assets - Discretely Presented Component Units 44
  Combining Statement of Activities - Discretely Presented Component Units 46
 

NOTES TO THE FINANCIAL STATEMENTS:

Note 1 - Summary of Significant Accounting Policies 47
Note 2 - Accounting Changes and Restatements; Reserved and Restricted Balances 65
  Note 3 - Fund Deficits 70
Note 4 - Cash and Investments 71
Note 5 - Receivables 78
Note 6 - Interfund Balances 82
Note 7 - Interfund Transfers 86
Note 8 - Restricted Assets 86
Note 9 - Capital Assets 88
Note 10 - Long-Term Obligations 91
Note 11 - Leases 99
Note 12 - Retirement Systems 101
Note 13 - Other Postemployment Benefits 107
Note 14 - Risk Management 108
Note 15 - Commitments and Contingencies 113
Note 16 - Subsequent Events 117

REQUIRED SUPPLEMENTARY INFORMATION:

Budgetary Comparison Schedule 120
Notes to Required Supplementary Information-Budgetary Reporting 123
Budgetary Comparison Schedule, Budget-to-GAAP Reconciliation 127
COMBINING FINANCIAL STATEMENTS AND SCHEDULES:
Combining Balance Sheet - Nonmajor Governmental Funds 132
Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds 134
Combining Balance Sheet - Nonmajor Special Revenue Funds 138
Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Revenue Funds 140
Combining Balance Sheet - Nonmajor Debt Service Funds 143
Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Debt Service Funds 144
Combining Statement of Net Assets - Internal Service Funds 146
Combining Statement of Revenues, Expenditures and Changes in Net Assets - Internal Service Funds 147
  Combining Statement of Cash Flows - Internal Service Funds 148
Combining Statement of Net Assets - Nonmajor Proprietary Funds 151
Combining Statement of Revenues, Expenditures and Changes in Net Assets - Nonmajor Proprietary Funds 152
  Combining Statement of Cash Flows - Nonmajor Proprietary Funds 153
  Combining Statement of Fiduciary Net Assets - Pension Trust Funds 156
  Combining Statement of Changes in Plan Net Assets - Pension Trust Funds 158
  Combining Statement of Fiduciary Net Assets - Investment Trust Funds 161
Combining Statement of Changes in Plan Net Assets - Investment Trust Funds 161
  Combining Statement of Fiduciary Net Assets - Agency Funds 163
  Combining Statement of Changes in Assets and Liabilities - Agency Funds 164
Combining Statement of Net Assets - Nonmajor Discretely Presented Component Units 166
Combining Statement of Activities - Nonmajor Discretely Presented Component Units 168
 

 

STATISTICAL SECTION

  Table 1 - Expenditures by Function - All Governmental Fund Types 2001-1992 170
Table 2 - Revenues by Source - All Governmental Fund Types 172
  Table 3 - Ratio of Outstanding General Obligation Bonds to Assessed Value and Net Debt per Capita 174
  Table 4 - Ratio of Annual Debt Service Expenditures for General Bonded Debt to General Fund Revenues and Expenditures 175
Table 5 - Revenue Bond Coverage 176
Table 6 - Demographic Statistics 178
Table 7 - Economic Characteristics 178
  Table 8 - Property Values, Retail Sales, Bank Deposits and Bank Loans 179
  Table 9 - Twenty-five Largest Private Sector Employers in West Virginia 180
Table 10 - Miscellaneous Public Education Statistics 181
Table 11 - Miscellaneous Higher Education Statistics 182
Table 12 - Miscellaneous Statistics 183