SPREADSHEET NAME OF SPREADSHEET SONA SORECNA SCF INTERFUND

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1 POLICIES - FINANCIAL STATEMENTS INCORPORATED INTO THE STATE'S CAFR BLANK SPREADSHEETS, FISCAL YEAR ENDED JUNE 30, 2011 APPENDIX F, COLLEGE AND UNIVERSITY FINANCIAL STATEMENT SPREADSHEETS NAME OF SPREADSHEET Statement of Net Assets Statement of Revenue, Expenses and Changes in Net Assets Statement of Cash Flows Schedule of Interfund Balances and Activity SPREADSHEET NAME* SONA SORECNA SCF INTERFUND * To view a schedule, click the appropriate link above or click the appropriate tab at the bottom of the screen. To return to this screen, click the "Contents" tab at the bottom of the screen.

2 STATEMENT OF NET ASSETS JUNE 30, 2011 ASSETS Williamsburg Technical Institution # 1 # 2 # 3 # 4 # 5 Total Current Assets: 1100 Cash & Cash Equivalents 4,812,591 4,812, Investments - Short-term 666, ,658 Receivables - Current (net): 1130 Student Accounts Receivable 695, , Allowance for Uncollectible Student Accounts Receivable Patient Accounts Receivable Allowance for Uncollectible Patient Accounts Receivable Allowance for Contractual Adjustments Accounts Receivable (Miscellaneous) Allowance for Uncollectible Accounts Receivable Contributions Receivable Allowance for Uncollectible Contributions Receivable Loans and Notes Receivable Allowance for Uncollectible Loans and Notes Receivable Student Loan Receivable Allowance for Uncollectible Student Loan Receivable Accrued Interest Receivable on Investments Due From Federal Government Due From Grantors (Other) 0 19XX Due From Other Funds in These Financial Statements Inventories 66,106 66, Prepaid Items - Current 8,825 8,825 Restricted assets - Current: 1440 Cash & Cash Equivalents Investments 5,000 5, Student Loans Receivable Allowance for Uncollectible Student Loan Receivable Other Other Assets - Current 0 Total Current Assets 6,255, ,255,105 Page 2 of 12

3 Williamsburg Technical STATEMENT OF NET ASSETS JUNE 30, 2011 Institution # 1 # 2 # 3 # 4 # 5 Total Noncurrent Assets: 1121 Investments - Long-term 0 Receivables - Noncurrent (net): 1132 Student Accounts Receivable Allowance for Uncollectible Student Accounts Receivable Patient Accounts Receivable Allowance for Uncollectible Patient Accounts Receivable Accounts Receivable Allowance for Uncollectible Accounts Receivable Contributions Receivable Allowance for Uncollectible Contributions Receivable Loans and Notes Receivable Allowance for Uncollectible Loans and Notes Receivable Student Loans Receivable (excludes Perkins) Allowance for Uncollectible Student Loan Receivable Advances to Other Funds in These Financial Statements Unamortized Debt Expense 0 Restricted assets - Noncurrent: 1450 Cash & Cash Equivalents Investments Receivable from Endowments Student Loans Receivable (includes Perkins) Allowance for Uncollectible Student Loans Receivable Other Prepaid Items - Noncurrent 0 Capital Assets: 1500 Land and Non-Depreciable Land Improvements 127, , Construction in Progress Non-depr. Works of Art & Historical Treasures Depreciable Land Improvements Buildings & Improvements 3,128,862 3,128, Vehicles 58,261 58, Machinery, Equipment & Other 1,094,556 1,094, Depr. Works of Art, Historical Treasures Intangible Assets 308, , Accum. Depr. - Land Improvements Accum. Depr. - Buildings & Improvements (2,639,342) (2,639,342) 1580 Accum. Depr. - Vehicles (52,811) (52,811) 1585 Accum. Depr. - Machinery & Equipment (1,060,628) (1,060,628) 1590 Accum. Depr. - Works of Art & Historical Treasures Accum. Depr. - Intangible Assets (308,720) (308,720) 1491 Other Assets - Noncurrent 0 Total Noncurrent Assets 656, ,088 Total Assets 6,911, ,911,193 Page 3 of 12

4 STATEMENT OF NET ASSETS JUNE 30, 2011 LIABILITIES Williamsburg Technical Institution # 1 # 2 # 3 # 4 # 5 Total Current Liabilities: 2010 Accounts Payable Accrued Liabilities - Current 10,446 10, Accrued Salaries & Related Payroll Expenses 0 29XX Due To Other Funds in These Financial Statements Retainages Payable - Current Accrued Interest Payable - Current Judgments and Contingencies - Current Arbitrage Rebates Payable - Current Deferred Revenues - Current 717, , Students' Deposits Liabilities Payable from Restricted Assets Amounts Held in Custody for Others Interfund Payable General Obligation Bonds Payable - Current Revenue Bonds Payable - Current Revenue Bonds Anticipation Notes Payable - Current General Obligation Bond Anticipation Notes Payable - Current Capital Leases Payable - Current Certificates of Participation - Current Loans and Notes Payable - Current Accrued Compensated Absences - Current 19,045 19, Other Current Liabilities 0 Total Current Liabilities 747, ,331 Page 4 of 12

5 Williamsburg Technical STATEMENT OF NET ASSETS JUNE 30, 2011 Institution # 1 # 2 # 3 # 4 # 5 Total Noncurrent Liabilities: 2016 Accrued Liabilities - Noncurrent Retainages Payable - Noncurrent Accrued Interest Payable - Noncurrent Judgments and Contingencies - Noncurrent Perkins Loan Program - Federal Liability Arbitrage Payable - Noncurrent Deferred Revenues - Noncurrent Advances from Other Funds in These Financial Statements General Obligation Bonds Payable - Noncurrent Revenue Bonds Payable - Noncurrent Revenue Bonds Anticipation Notes Payable - Noncurrent General Obligation Bond Anticipation Notes Payable - Noncurrent Capital Leases Payable - Noncurrent Certificates of Participation - Noncurrent Loans and Notes Payable - Noncurrent Accrued Compensated Absences - Long-term 296, , Other Noncurrent Liabilities 0 Total Noncurrent Liabilities 296, ,117 Total Liabilities 1,043, ,043,448 NET ASSETS 3010 Invested in Capital Assets, net of Related Debt 656, ,088 Restricted: Nonexpendable For: 3370 Education 5,000 5,000 Expendable For: 3305 Education Debt Service Capital Projects Unrestricted 5,206,657 5,206,657 Total Net Assets 5,867, ,867,745 Check figure: Assets - Liabilities - Net Assets = Check figure: Total Net Assets - End of Year on SORECNA = Check figure: Cash & Cash Equivalents - Year End on SCF = 0 3,934, ,934,614 Page 5 of 12

6 STATEMENT OF REVENUE, EXPENSES AND CHANGES IN NET ASSETS FOR THE FISCAL YEAR ENDED JUNE 30, 2011 Willimasburg Technical Institution # 1 # 2 # 3 # 4 # 5 Total Operating Revenues: 0200 Charges for Services, net 270, , Investment Earnings - Operating Revenue Other Interest Income - Operating Revenue Operating Revenues Pledged for Revenue Bonds, net Federal Operating Grants and Contracts 799, , State Operating Grants and Contracts 556, , Local/Private Operating Grants and Contracts Other Operating Revenues, net 112, ,168 Total Operating Revenues 1,739, ,739,211 Operating Expenses: 2000 General Operations and Administration 3,762,967 3,762, Depreciation Expense 87,212 87, Amortization Expense Scholarships and Fellowships 1,020,299 1,020, Other Operating Expenses 1,477,382 1,477,382 Total Operating Expenses 6,347, ,347,860 Operating Income (Loss) (4,608,649) (4,608,649) Nonoperating Revenues (Expenses): 0991 State Appropriations 1,560,280 1,560, Federal and Local Government Appropriations 516, , Net Investment Income 29,933 29, Contributions (Excluding Capital) Federal Grants and Contracts 3,337,220 3,337, State Grants and Contracts 2,081 2, Local/Private Grants and Contracts 134, , Gain (Loss) on Sale of Capital Assets Other Nonoperating Revenues, net (3,208) (3,208) 2075 Interest Expense Other Nonoperating Expenses, net 0 Net Nonoperating Revenues (Expenses) 5,578, ,578,718 Income Before Other Revenues, Expenses, Special and Extraordinary Items, and Transfers 970, ,069

7 0770 Federal Capital Grants and Contracts State Capital Appropriations Capital Improvement Bonds Proceeds 18,459 18, Economic Development Bond Proceeds Research Infrastructure Bond Proceeds Local/Private Capital Grants and Contracts 0 (Including Unrestricted Capital Contributions) 0776 Private Gifts for Endowment Purposes 0 (Temporary and Permanent Endowments) 0725 Extraordinary Items Special Items 0 48XX Transfers In from Other Funds in These Financial Statements 0 58XX Transfers Out to Other Funds in These Financial Statements Transfers to State General Fund 0 XXXX Transfers in from Other State Agencies 0 XXXX Transfers out to Other State Agencies 0 Change in Net Assets 988, , Prior Year Ending Net Assets 4,879,217 4,879, Prior Period Adjustments 0 XXXX Other Differences 0 Net Assets, Beginning of Year (restated) 4,879, ,879,217 Net Assets, End of Year 5,867, ,867,745

8 STATEMENT OF CASH FLOWS FOR THE FISCAL YEAR ENDED JUNE 30, 2011 Williamsbur Technical Institution # 1 # 2 # 3 # 4 # 5 Total Cash flows from operating activities: Receipts from customers 302, ,339 Grants received 1,183,342 1,183,342 Receipts from collection of loans and notes 0 Receipts of funds held for others 0 Other operating cash receipts 112, ,168 Payments to suppliers for good and services (1,480,250) (1,480,250) Payments to employees (salary and benefits) (3,808,775) (3,808,775) Payments for scholarships and fellowships (1,020,299) (1,020,299) Loans issued to students 0 Payments of funds held for others 0 Other operating cash payments 0 Net cash provided by (used in) operating activities (4,711,475) (4,711,475) Cash flows from noncapital financing activities: State, county, and local appropriations 2,074,014 2,074,014 Federal appropriations 3,474,240 3,474,240 Funds held for others 0 Principal payments received from other funds 0 Principal payments made to other funds 0 Receipt of interest from other funds 0 Interest payments made to other funds 0 Loans received from other funds 0 Loans made to other funds 0 Proceeds from issuance of noncapital debt 0 Principal paid on noncapital debt 0 Interest payments on noncapital debt 0 Gifts and grants for other than capital purposes 0 Other cash receipts for noncapital financing activities 0 Other cash payments for noncapital financing activities (3,208) (3,208) Transfers in 0 Transfers out 0 Net cash provided by (used in) noncapital financing activities 5,545, ,545,046 Page 8 of 12

9 STATEMENT OF CASH FLOWS FOR THE FISCAL YEAR ENDED JUNE 30, 2011 Williamsbur Technical Institution # 1 # 2 # 3 # 4 # 5 Total Cash flows from capital and related financing activities: Capital appropriations 21,027 21,027 Acquisition of capital assets (7,800) (7,800) Proceeds from issuance of capital debt 0 Principal payments on capital debt 0 Interest payments on capital debt 0 Payment of agent and broker fees 0 Proceeds from sale or disposal of capital assets 0 Capital grants and gifts received 0 Net cash provided by (used in) capital and related financing activities 13, ,227 Cash flows from investing activities: Proceeds from sales and maturities of investments 500, ,000 Purchase of investments (500,000) (500,000) Interest and dividends on investments 31,179 31,179 Other (specify) 0 Net cash provided by (used in) investing activities 31, ,179 Net increase (decrease) in cash and cash equivalents 877, ,977 Cash and cash equivalents, beginning of year 0 Cash and cash equivalents, end of year 877, ,977 Reconciliation of net operating income (loss) to net cash provided by (used in) operating activities: Operating income (loss) (4,608,649) (4,608,649) Adjustments to reconcile net operating income (loss) to net cash provided by (used in) operating activities: Depreciation and amortization 87,212 87,212 Provision for bad debts 0 Realized gains and losses on investments 0 Other nonoperating revenues 0 Other nonoperating expenses 0 Other 0 Page 9 of 12

10 STATEMENT OF CASH FLOWS FOR THE FISCAL YEAR ENDED JUNE 30, 2011 Williamsbur Technical Institution # 1 # 2 # 3 # 4 # 5 Total Changes in assets--decreases (increases): Accounts receivable, net (12,757) (12,757) Accrued interest 0 Loans receivable 0 Due from Federal government and other grantors 0 Due from other funds 0 Inventories 7,384 7,384 Other assets 0 Other 2,004 2,004 Changes in liabilities--increases (decreases): Accounts payable (12,256) (12,256) Accrued salaries and related expenses 0 Accrued interest payable 0 Retainages payable 0 Due to other funds 0 Unearned revenues (128,605) (128,605) Deposits 0 Compensated absences payable (45,808) (45,808) Other liabilities 0 Other 0 Net cash provided by (used in) operating activities (4,711,475) (4,711,475) Non-cash transactions: Acquisition of capital assets through: Assumption of liabilities 0 Donations 0 Disposal of capital assets 0 Assignment of Perkins loans 0 Borrowing under capital leases 0 Increase (decrease) in fair value of investments 0 Long-term debt forgiven 0 Other non-cash transactions (specify) 0 Total noncash transactions Page 10 of 12

11 STATEMENT OF CASH FLOWS FOR THE FISCAL YEAR ENDED JUNE 30, 2011 Williamsbur Technical Institution # 1 # 2 # 3 # 4 # 5 Total Check figures: Operating Income(Loss) - Operating Income(Loss) on SORECNA = Net Cash provided by (used in) operating activities within SCF = Page 11 of 12

12 SCHEDULE OF INTERFUND BALANCES AND ACTIVITY * FOR THE FISCAL YEAR ENDED JUNE 30, 2011 Due from Other Funds Institution Fund # 1 Fund # 2 Fund # 3 Fund # 4 Fund # 5 Totals Due to Other Funds ** Institution NA - # 1 NA - # 2 NA - # 3 NA - # 4 NA - # 5 NA - Total Transfers In from Other Funds Institution Fund # 1 Fund # 2 Fund # 3 Fund # 4 Fund # 4 Totals Transfers Out to Other Funds Institution NA - # 1 NA - # 2 NA - # 3 NA - # 4 NA - # 5 NA - Total *For balances/activity among funds shown within the institution's audited financial statements only (i.e., excludes balances/activity from/to other state agencies). The total row and total column must display the same amounts as are shown in the financial statements. **Prepare a similar schedule for Advances To/From Other Funds if applicable.

Financial Statements (Unaudited) June 30, 2015

Financial Statements (Unaudited) June 30, 2015 STATEMENTS OF NET POSITION (in $1,000s) June 30, 2015 Component Units 2015 2015 ASSETS Current Assets Cash and cash equivalents $ 5,777 $ 44,501 Short-term