WEST VIRGINIA UNIVERSITY - PARKERSBURG

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Vivien Flowers
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1 WEST VIRGINIA UNIVERSITY - PARKERSBURG STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS YEARS ENDED JUNE 30, 2003 AND OPERATING REVENUES Student tuition and fees, net of scholarship allowances of $1,814 and $2,151 $ 2,839 $ 1,889 Federal grants and contracts 4,111 3,133 State grants and contracts Nongovernmental grants and contracts Sales and services of educational departments 15 9 Auxiliary enterprises, net of scholarship allowances of $15 and $ Operating revenue from Main Campus 22 - Other operating revenues (including revenue from outsourced enterprise of $25 and $30) Total operating revenues 8,490 6,419 OPERATING EXPENSES Salaries and wages 8,458 8,197 Benefits 2,155 2,030 Scholarships and fellowships 2,500 1,231 Utilities Supplies and other services 2,212 2,080 Depreciation Assessments by the Commission for operations Other operating expenses 97 - Total operating expenses 16,728 14,610 OPERATING LOSS $ (8,238) $ (8,191) (continued)

2 WEST VIRGINIA UNIVERSITY - PARKERSBURG STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS (CONTINUED) YEARS ENDED JUNE 30, 2003 AND NONOPERATING REVENUES (EXPENSES) State appropriations $ 8,879 $ 8,512 Investment income Interest on capital asset-related debt (17) (19) Assessments by the Commission for debt service (47) (146) Other nonoperating income (expenses) - net - (48) Net nonoperating revenues 8,905 8,424 INCOME BEFORE OTHER REVENUES, EXPENSES, GAINS, OR LOSSES Bond/capital projects proceeds from the Commission INCREASE IN NET ASSETS BEFORE TRANSFERS TRANSFER OF LIABILITY FROM THE COMMISSION - (1,266) INCREASE (DECREASE) IN NET ASSETS 669 (746) NET ASSETS--BEGINNING OF YEAR (AS RESTATED IN 2002) 8,197 8,943 NET ASSETS--END OF YEAR $ 8,866 $ 8,197

3 WEST VIRGINIA UNIVERSITY - PARKERSBURG STATEMENTS OF NET ASSETS AS OF JUNE 30, 2003 AND ASSETS Current Assets: Cash and cash equivalents $ 3,674 $ 2,874 Accounts Receivable - Main Campus 48 - Accounts receivable, net of allowances for doubtful accounts of $18 and $ Loans receivable, current portion - 2 Inventories Prepaid expenses 6 6 Total current assets 4,577 3,572 Noncurrent Assets: Capital assets, net 8,716 8,736 Total noncurrent assets 8,716 8,736 TOTAL ASSETS $ 13,293 $ 12,308 (continued)

4 WEST VIRGINIA UNIVERSITY - PARKERSBURG STATEMENTS OF NET ASSETS (CONTINUED) AS OF JUNE 30, 2003 AND LIABILITIES Current Liabilities: Accounts payable $ 601 $ 397 Accrued liabilities 38 - Accrued payroll Deferred revenue Due to the Commission - 5 Compensated absences, current portion Debt service assessment payable to the Commission, current portion Leases payable, current portion Total current liabilities 1,843 1,651 Noncurrent Liabilities: Compensated absences 1,256 1,053 Debt service assessment payable to the Commission 1,067 1,169 Leases payable Other noncurrent liabilities 66 - Total noncurrent liabilities 2,584 2,460 TOTAL LIABILITIES $ 4,427 $ 4,111 NET ASSETS Invested in capital assets, net of related debt $ 7,318 $ 7,220 Restricted for: Expendable: Scholarships and fellowships 5 2 Sponsored programs Loans 5 5 Other - 80 Total expendable Unrestricted TOTAL NET ASSETS $ 8,866 $ 8,197

5 WEST VIRGINIA UNIVERSITY PARKERSBURG STATEMENTS OF CASH FLOWS YEARS ENDED JUNE 30, 2003 AND CASH FLOWS FROM OPERATING ACTIVITIES Tuition and fees $ 2,882 Grants and contracts 4,937 Payments to suppliers (2,055) Payments to employees (8,400) Payments for benefits (2,002) Payments to utilities (538) Payments for scholarships and fellowships (2,451) Collection (disbursements) of loans to students 1 Auxiliary enterprise charges (193) Sales and service of educational departments 15 Payments of operating expenses to (from) Main Campus (26) Other receipts (payments) - net 481 Net cash used in operating activities (7,349) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES State appropriations 8,879 Assessments by the Commission for operations (47) Net cash provided by noncapital financing activities 8,832 CASH FLOWS FROM CAPITAL FINANCING ACTIVITIES Proceeds from (payments on) Commission debt assessment payable (120) Purchases of capital assets (596) Principal paid on capital debt and leases (41) Interest paid on capital debt and leases (17) Net cash used in capital financing activities (774) CASH FLOWS FROM INVESTING ACTIVITIES Investment income 91 Net cash provided by investing activities 91 INCREASE IN CASH AND CASH EQUIVALENTS 800 CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR 2,874 CASH AND CASH EQUIVALENTS - END OF YEAR $ 3,674

6 WEST VIRGINIA UNIVERSITY PARKERSBURG STATEMENTS OF CASH FLOWS (CONTINUED) YEARS ENDED JUNE 30, 2003 AND 2002 Reconciliation of net operating income (loss) to net cash provided by operating activities: 2003 Operating income (loss) $ (8,238) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation expense 705 Changes in assets and liabilities: Accounts receivable, net (221) Loans receivable, net 2 Inventories 4 Accounts payable 139 Accrued liabilities 126 Deferred revenue (40) Due to the Commission 5 Compensated absences 169 Net cash used in operating activities $ (7,349) Noncash Transactions: Transfer of liability from the Commission $ - Reconciliation of cash and cash equivalents to the statements of net assets: Cash and cash equivalents classified as current assets $ 3,674 $ 3,674

7 West Virginia University Parkersburg NATURAL CLASSIFICATIONS WITH FUNCTIONAL CLASSIFICATION Year Ended June 30, 2003 Natural Classification Salaries & Scholarships & Supplies & Assessments by Other Functional Classification Wages Benefits Fellowships Utilities Other Services Depreciation the Commission Operating Expenses Total Instruction $ 5,187 $ 1,060 $ - $ - $ 949 $ - $ - $ - $ 7,196 Public Service Academic Support Student Services ,417 Operation and Maintenance of Plant ,773 General Institutional Support 1, ,814 Student Financial Aid - - 2, ,500 Auxiliary Enterprises Depreciation Assessments by Commission for Operations Total Expenses $ 8,458 $ 2,155 $ 2,500 $ 536 $ 2,212 $ 705 $ 65 $ 97 $ 16,728

8 West Virginia University Parkersburg NATURAL CLASSIFICATIONS WITH FUNCTIONAL CLASSIFICATION Year Ended June 30, 2002 Natural Classification Salaries & Scholarships & Supplies & Assessments by Functional Classification Wages Benefits Fellowships Utilities Other Services Depreciation the Commission Total Instruction $ 5,070 $ 1,307 $ - $ - $ 560 $ - $ - $ 6,937 Public Service Academic Support Student Services ,173 Operation and Maintenance of Plant ,926 General Institutional Support 1, ,809 Student Financial Aid - - 1, ,231 Auxiliary Enterprises Depreciation Assessments by Commission for Operations Total Expenses $ 8,197 $ 2,030 $ 1,231 $ 475 $ 2,080 $ 532 $ 65 $ 14,610

WEST VIRGINIA UNIVERSITY AT PARKERSBURG

WEST VIRGINIA UNIVERSITY AT PARKERSBURG STATEMENTS OF NET ASSETS AS OF JUNE 30, 2007 AND 2006 ASSETS Current Assets: Cash and cash equivalents $ 5,208 $ Accounts receivable, net of allowances for doubtful accounts of $3 and $5 385 1,065 Due