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, 1998

TABLE OF CONTENTS

INTRODUCTORY SECTION

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Page
Acknowledgements
State of West Virginia Principal Officials

x

Letter of Transmittal xi
State of West Virginia Organization Chart xxvii
Certificate of Achievement xxviii

FINANCIAL SECTION

Independent Auditors' Report 2
General Purpose Financial Statements
Combined Balance Sheet - All Fund Types, Account Groups and Discretely Presented Component Units 6
Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types and Expendable Trust Fund 8
Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual (Budgetary Basis) - General Revenue, Special Revenue and Other Budgeted Funds 10
Combined Statement of Revenues, Expenses and Changes in Fund Equity - All Proprietary Fund Types, Nonexpendable Trust Funds and Other Discretely Presented Component Units 12
Combined Statement of Cash Flows - All Proprietary Fund Types, Nonexpendable Trust Funds and Other Discretely Presented Component Units 14
Statement of Changes in Plan Net Assets - Pension Trust Funds 16
Combined Statement of Changes in Fund Balances - Higher Education Component Unit Funds 18
Combined Statement of Current Funds, Revenues, Expenditures, Transfers and Other Changes in Fund Balances - Higher Education Component Unit Funds 19
      

Notes to the Financial Statements

Note 1 - Summary of Significant Accounting Policies 20
Note 2 - Budgetary Basis Reporting 36
Note 3 - Fund Equity 41
Note 4 - Cash and Investments 43
Note 5 - Receivables 48
Note 6 - Intragovernmental Balances and Activity 50
Note 7 - Restricted Assets 54
Note 8 - Fixed Assets 56
Note 9 - Summary of General Long-Term Debt 57
Note 10 - Leases 64
Note 11 - Retirement Systems 66
Note 12 - Deferred Compensation Plan 72
Note 13 - Other Postemployment Benefits 74
Note 14 - Risk Management Program 75
Note 15 - Deficit Retained Earnings 81
Note 16 - Segment Information 82
Note 17 - Discretely Presented Component Unit Disclosures 83
Note 18 - Commitments and Contingencies 86
Note 19 - Year 2000 (Unaudited) 90
Note 20 - Subsequent Events

92

  
Combining Financial Statements and Schedules 93
Special Revenue Funds:

94

Combining Balance Sheet 96
Combining Statement of Revenues, Expenditures and Changes in Fund Balances 97
Debt Service Funds:

99

Combining Balance Sheet 100
Combining Statement of Revenues, Expenditures and Changes in Fund Balances 102
Capital Projects Funds:

104

Combining Balance Sheet 105
Combining Statement of Revenues, Expenditures and Changes in Fund Balances 106
Enterprise Funds:

107

Combining Balance Sheet 108
Combining Statement of Revenues, Expenses and Changes in Fund Equity 109
Combining Statement of Cash Flows 110
Internal Service Funds:

111

Combining Balance Sheet 112
Combining Statement of Revenues, Expenses and Changes in Fund Equity 113
Combining Statement of Cash Flows 114
Trust and Agency Funds:

116

Combining Balance Sheet 118
Combining Statement of Revenues, Expenses and Changes in Fund Balances - Nonexpendable Trust Funds 120
Combining Statement of Cash Flows - Nonexpendable Trust Funds 120
Combining Statement of Plan Net Assets - Pension Trust Funds 122
Combining Statement of Changes in Assets and Liabilities - Agency Funds 124
General Fixed Assets Account Group:

125

Schedule of Changes in General Fixed Assets by Function and Activity 126
Schedule of General Fixed Assets by Funcation and Activity 126
Schedule of General Fixed Assets by Source 127
Higher Education Component Unit Funds:

130

Combining Balance Sheet 132
Other Discretely Presented Component Unit Funds:

134

Combining Balance Sheet 136
Combining Statement of Revenues, Expenses and Changes in Fund Equity 138
Combining Statement of Cash Flows 140
    

STATISTICAL SECTION

 

Table 1 - Expenditures by Function - All Governmental Fund Types 1998-1989 144
Table 2 - Revenues by Source - All Governmental Fund Types 146
Table 3 - Ratio of Outstanding General Obligation Bonds to Assessed Value and Net Debt per Capita 148
Table 4 - Ratio of Annual Debt Service Expenditures for General Bonded Debt to General Fund Revenues and Expenditures 149
Table 5 - Revenue Bond Coverage 150
Table 6 - Demographic Statistics 152
Table 7 - Economic Characteristics 152
Table 8 - Property Values, Retail Sales, Bank Deposits and Bank Loans 153
Table 9 - Twenty-five Largest Private Sector Employers in West Virginia 154
Table 10 - Miscellaneous Public Education Statistics 155
Table 11 - Miscellaneous Higher Education Statistics 156
Table 12 - Miscellaneous Statistics 157
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