Accessible-Media-Vision-and-Guidelines-Process-Management-Report
➤ Gửi thông báo lỗi ⚠️ Báo cáo tài liệu vi phạmNội dung chi tiết: Accessible-Media-Vision-and-Guidelines-Process-Management-Report
Accessible-Media-Vision-and-Guidelines-Process-Management-Report
WEST VIRGINIA UNIVERSITYFinancial Statementsfor the Years Ended June 30. 2019 and 2018and Independent Auditors' ReportsWEST VIRGINIA UNIVERSITYTABLE O Accessible-Media-Vision-and-Guidelines-Process-Management-ReportOF CONTENTSPageINDEPENDENT AUDITORS' REPORT44928MANAGEMENT’S DISCUSSION AND ANALYSIS (RSI) (UNAUDITED>45006FINANCIAL STATEMENTS FOR YEARS ENDED JUNE 30. 2019 AND 20IS:Statements of Net Position22-23Statements of Revenues. Expenses and Changes in Net Position24-25Statements of Cash Flows26-27Notes to Accessible-Media-Vision-and-Guidelines-Process-Management-Report Financial Statements28-101REQUIRED SUPPLEMENTARY INFORMATION (RSI)102-103INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER FINANCIAL104REPORTINGAccessible-Media-Vision-and-Guidelines-Process-Management-Report
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDSWEST VIRGINIA WEST VIRGINIA UNIVERSITYFinancial Statementsfor the Years Ended June 30. 2019 and 2018and Independent Auditors' ReportsWEST VIRGINIA UNIVERSITYTABLE O Accessible-Media-Vision-and-Guidelines-Process-Management-Reportmentary information and has been prepared in accordance with the requirements of Governmental Accounting Standards Board ("GASB”). Ulis section of West Virginia University’s (the "University” or "WVU”) annual financial report provides an overview of the University's financial performance during the Accessible-Media-Vision-and-Guidelines-Process-Management-Reportfiscal year ended June 30.2019 as compared to the previous fiscal year. Comparative analysis is also presented for fiscal year 2018 compared to fiscalAccessible-Media-Vision-and-Guidelines-Process-Management-Report
year 2017.The University's annual report consists of three basic financial statements: the statement of net position, the statement of revenues, expeWEST VIRGINIA UNIVERSITYFinancial Statementsfor the Years Ended June 30. 2019 and 2018and Independent Auditors' ReportsWEST VIRGINIA UNIVERSITYTABLE O Accessible-Media-Vision-and-Guidelines-Process-Management-Report operations, and cash flows of the University as a whole. Each of these statements is discussed below.Financial HighlightsAt June 30.2019. the University’s total net position increased from the previous year-end by S6.4 million. The increase in net position IS primarily attributable to increases in Accessible-Media-Vision-and-Guidelines-Process-Management-Reportcash and cash equivalents, accounts receivable from public private and deferred outflows from other postemployment benefits ("OPEB”) as well as decreaAccessible-Media-Vision-and-Guidelines-Process-Management-Report
ses in debt service assessment payable to the Higher Education Policy Commission ("Commission”), bonds payable, net OPEB liability and net pension liaWEST VIRGINIA UNIVERSITYFinancial Statementsfor the Years Ended June 30. 2019 and 2018and Independent Auditors' ReportsWEST VIRGINIA UNIVERSITYTABLE O Accessible-Media-Vision-and-Guidelines-Process-Management-Report net and increases in accounts payable and accrued liabilities.Total revenues ill fiscal year 2019 were Sl.l billion, a .8% decrease over prior year. Total revenues increased by 2.1% from fiscal year 2017 to fiscal year 20IS. During fiscal year 2019. decreases in federal land grant revenues, net aux Accessible-Media-Vision-and-Guidelines-Process-Management-Reportiliary revenue, payments on behalf of the University and gift revenue were offset by increases ill noncapital grants and contracts revenues, other opeAccessible-Media-Vision-and-Guidelines-Process-Management-Report
rating revenue and state appropriations. Total expenses increased by 2.4% from fiscal year 2018 to fiscal year 2019. During fiscal year 2019. increaseWEST VIRGINIA UNIVERSITYFinancial Statementsfor the Years Ended June 30. 2019 and 2018and Independent Auditors' ReportsWEST VIRGINIA UNIVERSITYTABLE O Accessible-Media-Vision-and-Guidelines-Process-Management-Reportnses, net were offset by a decrease in depreciation and amortization expense. Total expenses decreased by .9% from fiscal year 2017 to fiscal year 2018.Total net position increased by S6.4 million from fiscal year 2018 to fiscal year 2019 due to increases in cash and cash equivalents, accounts recei Accessible-Media-Vision-and-Guidelines-Process-Management-Reportvable from public private partnerships, and deferred outflows related lo OPF.B and decreases in debt service assessment payable to the Commission, bonAccessible-Media-Vision-and-Guidelines-Process-Management-Report
ds payable, net OPFB liability and net pension liability. This increase in net position was offset by decreases in accounts receivable, prepaid expensWEST VIRGINIA UNIVERSITYFinancial Statementsfor the Years Ended June 30. 2019 and 2018and Independent Auditors' ReportsWEST VIRGINIA UNIVERSITYTABLE O Accessible-Media-Vision-and-Guidelines-Process-Management-Reportted to OPF.B.Net PositionThe statement of net position presents the assets (current and noncurrent), deferred outflows of resources, liabilities (current and noncurrent), deferred inflows of resources and net position of the University as of the end of the fiscal years. Assets denote the resources a Accessible-Media-Vision-and-Guidelines-Process-Management-Reportvailable to continue the operations of the University. Deferred outflows of resources are defined as a consumption of resources applicable to a futureAccessible-Media-Vision-and-Guidelines-Process-Management-Report
reporting period. Liabilities indicate how much the University owes vendors, employees and lenders. Deferred inflows of resources are defined as an aWEST VIRGINIA UNIVERSITYFinancial Statementsfor the Years Ended June 30. 2019 and 2018and Independent Auditors' ReportsWEST VIRGINIA UNIVERSITYTABLE O Accessible-Media-Vision-and-Guidelines-Process-Management-Report position.3Net Position IS displayed in three components:Net investment in capital assets. This component consists of capital assets, net of accumulated depreciation and amortization reduced by the outstanding balance of debt obligations related to those capital assets. Deferred inflows and outflows Accessible-Media-Vision-and-Guidelines-Process-Management-Report of resources related to these capital assets or debt are also included in this component of net position.Restricted. This category includes assets, tAccessible-Media-Vision-and-Guidelines-Process-Management-Report
he use of which is restricted, either due to externally imposed constraints or because of restrictions imposed by law. Restricted assets are reduced bWEST VIRGINIA UNIVERSITYFinancial Statementsfor the Years Ended June 30. 2019 and 2018and Independent Auditors' ReportsWEST VIRGINIA UNIVERSITYTABLE O Accessible-Media-Vision-and-Guidelines-Process-Management-Reportpendable. The nonexpendable restricted component includes endowment and similar type funds for which donors or other outside sources have stipulated, as a condition of the gift instrument. that the principal is to be maintained inviolate and in perpetuity and invested for the purpose of producing pr Accessible-Media-Vision-and-Guidelines-Process-Management-Reportesent and future income, which may either be expended or added to principal. The expendable restricted component includes resources for which the UnivAccessible-Media-Vision-and-Guidelines-Process-Management-Report
ersity is legally or contractually obligated to spend resources in accordance with restrictions imposed by external third parties.Unrestricted. This cWEST VIRGINIA UNIVERSITYFinancial Statementsfor the Years Ended June 30. 2019 and 2018and Independent Auditors' ReportsWEST VIRGINIA UNIVERSITYTABLE O Accessible-Media-Vision-and-Guidelines-Process-Management-Reportestricted as to use). State appropriations, sales and sendees of educational activities, and auxiliary enterprises. The unrestricted component of net position is used for transactions related to the educational and general operations of the University and may be designated for specific purposes by a Accessible-Media-Vision-and-Guidelines-Process-Management-Reportction of the University's management or the Board of Governors.4WEST VIRGINIA UNIVERSITYFinancial Statementsfor the Years Ended June 30. 2019 and 2018and Independent Auditors' ReportsWEST VIRGINIA UNIVERSITYTABLE OWEST VIRGINIA UNIVERSITYFinancial Statementsfor the Years Ended June 30. 2019 and 2018and Independent Auditors' ReportsWEST VIRGINIA UNIVERSITYTABLE OGọi ngay
Chat zalo
Facebook