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.
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 4,812,591 1120 Investments - Short-term 666,658 666,658 Receivables - Current (net): 1130 Student Accounts Receivable 695,925 695,925 1131 Allowance for Uncollectible Student Accounts Receivable 0 1145 Patient Accounts Receivable 0 1146 Allowance for Uncollectible Patient Accounts Receivable 0 1147 Allowance for Contractual Adjustments 0 1150 Accounts Receivable (Miscellaneous) 0 1151 Allowance for Uncollectible Accounts Receivable 0 1160 Contributions Receivable 0 1162 Allowance for Uncollectible Contributions Receivable 0 1200 Loans and Notes Receivable 0 1220 Allowance for Uncollectible Loans and Notes Receivable 0 1225 Student Loan Receivable 0 1227 Allowance for Uncollectible Student Loan Receivable 0 1231 Accrued Interest Receivable on Investments 0 1180 Due From Federal Government 0 1190 Due From Grantors (Other) 0 19XX Due From Other Funds in These Financial Statements 0 1280 Inventories 66,106 66,106 1290 Prepaid Items - Current 8,825 8,825 Restricted assets - Current: 1440 Cash & Cash Equivalents 0 1441 Investments 5,000 5,000 1444 Student Loans Receivable 0 1445 Allowance for Uncollectible Student Loan Receivable 0 1443 Other 0 1490 Other Assets - Current 0 Total Current Assets 6,255,105 0 0 0 0 0 6,255,105 Page 2 of 12
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 0 1133 Allowance for Uncollectible Student Accounts Receivable 0 1148 Patient Accounts Receivable 0 1149 Allowance for Uncollectible Patient Accounts Receivable 0 1152 Accounts Receivable 0 1153 Allowance for Uncollectible Accounts Receivable 0 1161 Contributions Receivable 0 1163 Allowance for Uncollectible Contributions Receivable 0 1201 Loans and Notes Receivable 0 1221 Allowance for Uncollectible Loans and Notes Receivable 0 1226 Student Loans Receivable (excludes Perkins) 0 1228 Allowance for Uncollectible Student Loan Receivable 0 1240 Advances to Other Funds in These Financial Statements 0 1350 Unamortized Debt Expense 0 Restricted assets - Noncurrent: 1450 Cash & Cash Equivalents 0 1451 Investments 0 1458 Receivable from Endowments 0 1454 Student Loans Receivable (includes Perkins) 0 1455 Allowance for Uncollectible Student Loans Receivable 0 1453 Other 0 1300 Prepaid Items - Noncurrent 0 Capital Assets: 1500 Land and Non-Depreciable Land Improvements 127,190 127,190 1505 Construction in Progress 0 1510 Non-depr. Works of Art & Historical Treasures 0 1525 Depreciable Land Improvements 0 1530 Buildings & Improvements 3,128,862 3,128,862 1540 Vehicles 58,261 58,261 1545 Machinery, Equipment & Other 1,094,556 1,094,556 1550 Depr. Works of Art, Historical Treasures 0 1555 Intangible Assets 308,720 308,720 1565 Accum. Depr. - Land Improvements 0 1570 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 0 1595 Accum. Depr. - Intangible Assets (308,720) (308,720) 1491 Other Assets - Noncurrent 0 Total Noncurrent Assets 656,088 0 0 0 0 0 656,088 Total Assets 6,911,193 0 0 0 0 0 6,911,193 Page 3 of 12
STATEMENT OF NET ASSETS JUNE 30, 2011 LIABILITIES Williamsburg Technical Institution # 1 # 2 # 3 # 4 # 5 Total Current Liabilities: 2010 Accounts Payable 0 2015 Accrued Liabilities - Current 10,446 10,446 2020 Accrued Salaries & Related Payroll Expenses 0 29XX Due To Other Funds in These Financial Statements 0 2035 Retainages Payable - Current 0 2040 Accrued Interest Payable - Current 0 2060 Judgments and Contingencies - Current 0 2070 Arbitrage Rebates Payable - Current 0 2080 Deferred Revenues - Current 717,840 717,840 2106 Students' Deposits 0 2175 Liabilities Payable from Restricted Assets 0 2100 Amounts Held in Custody for Others 0 2118 Interfund Payable 0 2180 General Obligation Bonds Payable - Current 0 2190 Revenue Bonds Payable - Current 0 2200 Revenue Bonds Anticipation Notes Payable - Current 0 2210 General Obligation Bond Anticipation Notes Payable - Current 0 2160 Capital Leases Payable - Current 0 2165 Certificates of Participation - Current 0 2170 Loans and Notes Payable - Current 0 2030 Accrued Compensated Absences - Current 19,045 19,045 2490 Other Current Liabilities 0 Total Current Liabilities 747,331 0 0 0 0 0 747,331 Page 4 of 12
Williamsburg Technical STATEMENT OF NET ASSETS JUNE 30, 2011 Institution # 1 # 2 # 3 # 4 # 5 Total Noncurrent Liabilities: 2016 Accrued Liabilities - Noncurrent 0 2036 Retainages Payable - Noncurrent 0 2041 Accrued Interest Payable - Noncurrent 0 2061 Judgments and Contingencies - Noncurrent 0 2065 Perkins Loan Program - Federal Liability 0 2071 Arbitrage Payable - Noncurrent 0 2082 Deferred Revenues - Noncurrent 0 2120 Advances from Other Funds in These Financial Statements 0 2181 General Obligation Bonds Payable - Noncurrent 0 2191 Revenue Bonds Payable - Noncurrent 0 2201 Revenue Bonds Anticipation Notes Payable - Noncurrent 0 2211 General Obligation Bond Anticipation Notes Payable - Noncurrent 0 2161 Capital Leases Payable - Noncurrent 0 2166 Certificates of Participation - Noncurrent 0 2171 Loans and Notes Payable - Noncurrent 0 2031 Accrued Compensated Absences - Long-term 296,117 296,117 2485 Other Noncurrent Liabilities 0 Total Noncurrent Liabilities 296,117 0 0 0 0 0 296,117 Total Liabilities 1,043,448 0 0 0 0 0 1,043,448 NET ASSETS 3010 Invested in Capital Assets, net of Related Debt 656,088 656,088 Restricted: Nonexpendable For: 3370 Education 5,000 5,000 Expendable For: 3305 Education 0 3330 Debt Service 0 3325 Capital Projects 0 3100 Unrestricted 5,206,657 5,206,657 Total Net Assets 5,867,745 0 0 0 0 0 5,867,745 Check figure: Assets - Liabilities - Net Assets = 0 0 0 0 0 0 0 0 Check figure: Total Net Assets - End of Year on SORECNA = 0 0 0 0 0 0 0 0 Check figure: Cash & Cash Equivalents - Year End on SCF = 0 3,934,614 0 0 0 0 0 3,934,614 Page 5 of 12
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 270,779 270,779 0500 Investment Earnings - Operating Revenue 0 0515 Other Interest Income - Operating Revenue 0 0231 Operating Revenues Pledged for Revenue Bonds, net 0 0145 Federal Operating Grants and Contracts 799,555 799,555 0160 State Operating Grants and Contracts 556,709 556,709 0170 Local/Private Operating Grants and Contracts 0 0205 Other Operating Revenues, net 112,168 112,168 Total Operating Revenues 1,739,211 0 0 0 0 0 1,739,211 Operating Expenses: 2000 General Operations and Administration 3,762,967 3,762,967 2060 Depreciation Expense 87,212 87,212 2070 Amortization Expense 0 2045 Scholarships and Fellowships 1,020,299 1,020,299 2039 Other Operating Expenses 1,477,382 1,477,382 Total Operating Expenses 6,347,860 0 0 0 0 0 6,347,860 Operating Income (Loss) (4,608,649) 0 0 0 0 0 (4,608,649) Nonoperating Revenues (Expenses): 0991 State Appropriations 1,560,280 1,560,280 0560 Federal and Local Government Appropriations 516,712 516,712 0549 Net Investment Income 29,933 29,933 0400 Contributions (Excluding Capital) 0 0150 Federal Grants and Contracts 3,337,220 3,337,220 0160 State Grants and Contracts 2,081 2,081 0175 Local/Private Grants and Contracts 134,939 134,939 0720 Gain (Loss) on Sale of Capital Assets 761 761 0599 Other Nonoperating Revenues, net (3,208) (3,208) 2075 Interest Expense 0 2080 Other Nonoperating Expenses, net 0 Net Nonoperating Revenues (Expenses) 5,578,718 0 0 0 0 0 5,578,718 Income Before Other Revenues, Expenses, Special and Extraordinary Items, and Transfers 970,069 0 0 0 0 0 970,069
0770 Federal Capital Grants and Contracts 0 0772 State Capital Appropriations 0 0772 Capital Improvement Bonds Proceeds 18,459 18,459 0772 Economic Development Bond Proceeds 0 0772 Research Infrastructure Bond Proceeds 0 0774 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 0 0745 Special Items 0 48XX Transfers In from Other Funds in These Financial Statements 0 58XX Transfers Out to Other Funds in These Financial Statements 0 5801 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 988,528 0 0 0 0 0 988,528 3100 Prior Year Ending Net Assets 4,879,217 4,879,217 0798 Prior Period Adjustments 0 XXXX Other Differences 0 Net Assets, Beginning of Year (restated) 4,879,217 0 0 0 0 0 4,879,217 Net Assets, End of Year 5,867,745 0 0 0 0 0 5,867,745
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 302,339 302,339 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 112,168 112,168 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) 0 0 0 0 0 (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 5,545,046 0 0 0 0 0 5,545,046 Page 8 of 12
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 0 0 0 0 0 13,227 Cash flows from investing activities: Proceeds from sales and maturities of investments 500,000 500,000 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 0 0 0 0 0 31,179 Net increase (decrease) in cash and cash equivalents 877,977 0 0 0 0 0 877,977 Cash and cash equivalents, beginning of year 0 Cash and cash equivalents, end of year 877,977 0 0 0 0 0 877,977 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
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) 0 0 0 0 0 (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 0 0 0 0 0 0 0 Page 10 of 12
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 = 0 0 0 0 0 0 0 0 Net Cash provided by (used in) operating activities within SCF = 0 0 0 0 0 0 0 0 Page 11 of 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.