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EDL_Leadership-Experience_Internship_Handbook_revAug2018

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Nội dung chi tiết: EDL_Leadership-Experience_Internship_Handbook_revAug2018

EDL_Leadership-Experience_Internship_Handbook_revAug2018

William & MARYCHARTERED 1693Audited Consolidated Finaneial Report For The Year Ended June 30, 2017VIMS I ™mS*RICHARD BLAND co L L B G B<7 WILLIAM MAHV

EDL_Leadership-Experience_Internship_Handbook_revAug2018Virginia Institute of Marine ScienceTHE COLLEGE OF WILLIAM AM) MARY IN VIRGINIA, VIRGINIA INSTITUTE OF MARINE SCIENCEAND RICHARD BLAND COLLEGEANNUAL F

INANCIAL REPORT 2016-2017ContentsManagement's Discussion and Analysis44936Financial StatementsStatement of Net Position12Statement of Revenues. Expens EDL_Leadership-Experience_Internship_Handbook_revAug2018

es and Changes in Net Position13Statement of Cash Flows14-15Notes to Financial Statements17-67Required Supplementary Information and Notes to the Requ

EDL_Leadership-Experience_Internship_Handbook_revAug2018

ired Supplementary Information 68-72Independent Auditor's Report73-75College Officials76The College of William & Man in Virginia, Virginia Institute o

William & MARYCHARTERED 1693Audited Consolidated Finaneial Report For The Year Ended June 30, 2017VIMS I ™mS*RICHARD BLAND co L L B G B<7 WILLIAM MAHV

EDL_Leadership-Experience_Internship_Handbook_revAug2018n and Analysis (MD&A) is required supplemental information to the consolidated financial statements designed to assist readers in understanding the ac

companying financial statements. 1 he following information includes a comparative analysis between the current fiscal year ended June 30. 2017 and th EDL_Leadership-Experience_Internship_Handbook_revAug2018

e prior year ended .Tune 30. 2016. Significant changes between the two fiscal years and important management decisions are highlighted, rhe summarized

EDL_Leadership-Experience_Internship_Handbook_revAug2018

information presented in the MD&A should be reviewed in conjunction with both the financial statements and associated footnotes in order for the read

William & MARYCHARTERED 1693Audited Consolidated Finaneial Report For The Year Ended June 30, 2017VIMS I ™mS*RICHARD BLAND co L L B G B<7 WILLIAM MAHV

EDL_Leadership-Experience_Internship_Handbook_revAug2018 Mary’s management has prepared the MD&A. along with the financial statements and footnotes. W&M’s management is resjxmsible for all of the informatio

n presented for The College of William and Mary (W&M). the Virginia Institute of Marine Science (VIMS), and their affiliated foundations. Richard Blan EDL_Leadership-Experience_Internship_Handbook_revAug2018

d College’s (RBC) management is responsible for all of the information presented for RBC and its affiliated foundation.The financial statements have b

EDL_Leadership-Experience_Internship_Handbook_revAug2018

een prepared in accordance with the Governmental Accounting Standards Board (GASB) Statement Number 35. Basic Financial Statements - and Management 's

William & MARYCHARTERED 1693Audited Consolidated Finaneial Report For The Year Ended June 30, 2017VIMS I ™mS*RICHARD BLAND co L L B G B<7 WILLIAM MAHV

EDL_Leadership-Experience_Internship_Handbook_revAug2018al statements required are the Statement of Net Position, the Statement of Revenues. Expenses, and Changes in Net Position, and the Statement of Cash

Flows. The aforementioned statements are summarized and analyzed in the MD&A.These financial statements are consolidated statements that include The C EDL_Leadership-Experience_Internship_Handbook_revAug2018

ollege of William and Mary in Virginia (W&M). the Virginia Institute of Marine Science (VIMS) and Richard Bland College (RBC). All three entities are

EDL_Leadership-Experience_Internship_Handbook_revAug2018

agencies of the Commonwealth of Virginia reporting to the Board of Visitors of the College of William and Mary and are referred to collectively as the

William & MARYCHARTERED 1693Audited Consolidated Finaneial Report For The Year Ended June 30, 2017VIMS I ™mS*RICHARD BLAND co L L B G B<7 WILLIAM MAHV

EDL_Leadership-Experience_Internship_Handbook_revAug2018ns’ affiliated foundations are also included in these statements consistent with GASH Statement No. 61. The Financial Reporting Entity: Omnibus-An Ame

ndment of GASB Statements No. 14 and Ỉ4. however they are excluded from this MD&A, except where noted, rhe University has a total of nine foundations, EDL_Leadership-Experience_Internship_Handbook_revAug2018

of which the financial information for eight of the foundations is presented in the statements under the column titled "Component Units". While affil

EDL_Leadership-Experience_Internship_Handbook_revAug2018

iated foundations are not under the direct control of the Board of Visitors, this presentation provides a more holistic view of resources available to

William & MARYCHARTERED 1693Audited Consolidated Finaneial Report For The Year Ended June 30, 2017VIMS I ™mS*RICHARD BLAND co L L B G B<7 WILLIAM MAHV

EDL_Leadership-Experience_Internship_Handbook_revAug2018ormation footnote, rhe nrnth foundation. Intellectual Properties, was established FY08 and is presented as blended in the University column as require

d by GASB 61. because W&M has a voting majority of the board.Financial SummaryStatement of Net Positionrhe Statement of Net Position provides a snapsh EDL_Leadership-Experience_Internship_Handbook_revAug2018

ot of the University’s financial position, specifically the assets, deferred outflows of resources, liabilities, deferred inflows of resources and res

EDL_Leadership-Experience_Internship_Handbook_revAug2018

ulting net positron as of June 30. 2017. rhe information presented for FY 16 for comparative purposes has been restated for FY 16 beginning Net Positi

William & MARYCHARTERED 1693Audited Consolidated Finaneial Report For The Year Ended June 30, 2017VIMS I ™mS*RICHARD BLAND co L L B G B<7 WILLIAM MAHV

EDL_Leadership-Experience_Internship_Handbook_revAug2018’ and the categorization of net position as follows:1-1Net Investment in Capital Assets - reflects the University’s capital as—-—------depreciation an

d any debt attributable to their acquisition, construction or improvements. EDL_Leadership-Experience_Internship_Handbook_revAug2018

William & MARYCHARTERED 1693Audited Consolidated Finaneial Report For The Year Ended June 30, 2017VIMS I ™mS*RICHARD BLAND co L L B G B<7 WILLIAM MAHV

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