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WV legislative leadership hears high marks for highways

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    Tuesday, September 2 2014 10:26 AM EDT2014-09-02 14:26:18 GMT
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    Tuesday, September 2 2014 7:09 AM EDT2014-09-02 11:09:22 GMT
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The one audit the state is required to bid out to private contract, the Department of Transportation and Division of Highways, showed no instances of non-compliance.

Lawmakers heard the results of the audit during a Nov. 27 interim committee meeting.

Bill Wilkinson of Perry & Associates, which performed the audit, said the majority of revenue for the department came from tax collections — about $594 million worth.

Wilkinson also said the June derecho and other activities have created a significant increase in accounts receivable and payable.

Wilkinson told lawmakers the only hiccup was from things the department classified as "capital assets," that should have been considered expenses, such as road paving. The issue was discovered during the audit, and those bookings were changed, Wilkinson said.

He said the department's only significant liabilities are accounts payable, OPEB and long-term debt liability, but it took on no new debt during the fiscal year.