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Unaudited Financial Statements with Other Financial Information Unaudited Financial Statements With Other Financial Information West Virginia Board of Treasury Investments Consolidated Fund For the Month and Fiscal Year to Date Ended May 31, 2021 Fiscal Year is July 1, 2020 through June 30, 2021 (This page intentionally left blank.) West Virginia Board of Treasury Investments Consolidated Fund Unaudited Financial Statements with Other Financial Information For the Month and Fiscal Year to Date Ended May 31, 2021 Contents Unaudited Financial Statements: Unaudited Combining Statement of Fiduciary Net Position ................................................................. 2 Unaudited Combining Statement of Changes in Fiduciary Net Position ............................................... 4 Notes to Unaudited Financial Statements ............................................................................................... 9 Schedule of Investments in Securities ........................................................................................................ 18 Other Financial Information: Schedule of Net Asset Values .............................................................................................................. 34 Portfolio Statistics ................................................................................................................................ 35 Participant Net Asset Values ............................................................................................................... 36 Glossary of Financial and Investment Terms ....................................................................................... 37 1 West Virginia Board of Treasury Investments Consolidated Fund Combining Statement of Fiduciary Net Position -- Unaudited May 31, 2021 (In Thousands) WV Government WV Short WV Money Money Market Term Bond Market Pool Pool Pool WV Bank Pool Assets Investments: At amortized cost$ 6,111,461 $ 220,007 $ - $ 60,206 At fair value - - 818,392 - Receivables: Accrued interest 311 6 3,834 34 Dividends 6 - - - Receivable for investments sold - - 6,487 - Other - - - - Total receivables 317 6 10,321 34 Total assets 6,111,778 220,013 828,713 60,240 Liabilities Accrued expenses 1,562 85 397 6 Dividends payable - - 1,419 - Payable for investments purchased - 3,000 5,798 - Total liabilities 1,562 3,085 7,614 6 Net Position Held in trust for investment pool participants 6,110,216 216,928 821,099 60,234 Held in trust for individual investment account holders - - - - Total net position$ 6,110,216 $ 216,928 $ 821,099 $ 60,234 See accompanying notes to unaudited financial statements. 2 Economic Development Municipal Authority - Bond American Commission School Fund Woodmark Loan Pool Reserve Pool Account Account Account Total $ 122,688 $ 19,937 $ - $ - $ - $ 6,534,299 - - 32,049 1,000 1,639 853,080 176 3 41 - 26 4,431 - - - - - 6 - - - - - 6,487 - - - - - - 176 3 41 - 26 10,924 122,864 19,940 32,090 1,000 1,665 7,398,303 12 - - - 1 2,063 - - - - - 1,419 - - - - - 8,798 12 - - - 1 12,280 122,852 19,940 - - - 7,351,269 - - 32,090 1,000 1,664 34,754 $ 122,852 $ 19,940 $ 32,090 $ 1,000 $ 1,664 $ 7,386,023 3 West Virginia Board of Treasury Investments Consolidated Fund Combining Statement of Changes in Fiduciary Net Position -- Unaudited For the Periods Ended May 31, 2021 WV Money Market Pool WV Government Money Month of Fiscal Year Month of Fiscal Year May (11 Months) May (11 Months) Additions Investment income: Interest$ 169 $ 3,391 $ 3 $ 191 Dividends 7 217 - - Net (amortization) accretion 435 6,903 6 127 Provision for uncollectible loans - - - - Total investment income 611 10,511 9 318 Investment expenses: Investment advisor fees 140 1,390 6 81 Custodian bank fees 12 119 1 13 Administrative fees 108 1,103 1 55 Total investment expenses 260 2,612 8 149 Net investment income 351 7,899 1 169 Net realized gain (loss) from investments - 3 - 3 Net increase (decrease) in fair value of investments - - - - Net increase (decrease) in net position from operations 351 7,902 1 172 Participant transaction additions: Purchase of pool units by participants 2,068,780 13,413,451 97,552 383,926 Reinvestment of pool distributions 351 7,900 - 172 Contibutions to individual investment accounts - - - - Total participant transaction additions 2,069,131 13,421,351 97,552 384,098 Total additions 2,069,482 13,429,253 97,553 384,270 Deductions Distributions to pool participants: Net investment income 351 7,899 1 169 Net realized gain (loss) from investments - 3 - 3 Total distributions to pool participants 351 7,902 1 172 Participant transaction deductions: Redemption of pool units by participants 1,193,875 12,418,959 49,716 429,848 Withdrawals from individual investment accounts - - - - Total participant transaction deductions 1,193,875 12,418,959 49,716 429,848 Total deductions 1,194,226 12,426,861 49,717 430,020 Net increase (decrease) in net position 875,256 1,002,392 47,836 (45,750) Inter-pool transfers in - 18,600 - - Inter-pool transfers out - (10,750) - - Net inter-pool transfers in (out) - 7,850 - - Change in net position 875,256 1,010,242 47,836 (45,750) Net position at beginning of period 5,234,960 5,099,974 169,092 262,678 Net position at end of period$ 6,110,216 $ 6,110,216 $ 216,928 $ 216,928 See accompanying notes to unaudited financial statements. 4 WV Short Term Bond Pool WV Bank Pool Loan Pool Reserve Pool Month of Fiscal Year Month of Fiscal Year Month of Fiscal Year Month of Fiscal Year May (11 Months) May (11 Months) May (11 Months) May (11 Months) $ 1,375 $ 16,959 $ 11 $ 188 $ 176 $ 1,809 $ 3 $ 34 - 3 - - - - - - (391) (2,838) - - - - - - - - - - - - - - 984 14,124 11 188 176 1,809 3 34 35 424 - - - - - - 2 22 - - - - - - 16 177 1 13 2 25 - - 53 623 1 13 2 25 - - 931 13,501 10 175 174 1,784 3 34 489 6,556 - - - - - - 123 (7,532) - - - - - - 1,543 12,525 10 175 174 1,784 3 34 - 33,630 10 975 - 11,841 3 35 1,299 21,561 10 175 174 1,784 3 34 - - - - - - - - 1,299 55,191 20 1,150 174 13,625 6 69 2,842 67,716 30 1,325 348 15,409 9 103 931 13,501 10 175 174 1,784 3 34 489 6,556 - - - - - - 1,420 20,057 10 175 174 1,784 3 34 829 39,679 10 975 980 11,342 3 35 - - - - - - - - 829 39,679 10 975 980 11,342 3 35 2,249 59,736 20 1,150 1,154 13,126 6 69 593 7,980 10 175 (806) 2,283 3 34 - - - 10,750 - - - - - - - (18,600) - - - - - - - (7,850) - - - - 593 7,980 10 (7,675) (806) 2,283 3 34 820,506 813,119 60,224 67,909 123,658 120,569 19,937 19,906 $ 821,099 $ 821,099 $ 60,234 $ 60,234 $ 122,852 $ 122,852 $ 19,940 $ 19,940 5 West Virginia Board of Treasury Investments Consolidated Fund Combining Statement of Changes in Fiduciary Net Position -- Unaudited (Continued) For the Periods Ended May 31, 2021 Municipal Bond Commission School Fund Account Month of Fiscal Year Month of Fiscal Year May (11 Months) May (11 Months) Additions Investment income: Interest$ 41 $ 889 $ - $ - Dividends - - - - Net (amortization) accretion - - - - Provision for uncollectible loans - - - - Total investment income 41 889 - - Investment expenses: Investment advisor fees - - - - Custodian bank fees - - - - Administrative fees - 1 - - Total investment expenses - 1 - - Net investment income 41 888 - - Net realized gain (loss) from investments - - - - Net increase (decrease) in fair value of investments - - - - Net increase (decrease) in net position from operations 41 888 - - Participant transaction additions: Purchase of pool units by participants - - - - Reinvestment of pool distributions - - - - Contibutions to individual investment accounts - 34,943 - - Total participant transaction additions - 34,943 - - Total additions 41 35,831 - - Deductions Distributions to pool participants: Net investment income - - - - Net realized gain (loss) from investments - - - - Total distributions to pool participants - - - - Participant transaction deductions: Redemption of pool units by participants - - - - Withdrawals from individual investment accounts 82,441 84,096 - 264 Total participant transaction deductions 82,441 84,096 - 264 Total deductions 82,441 84,096 - 264 Net increase (decrease) in net position (82,400) (48,265) - (264) Inter-pool transfers in - - - - Inter-pool transfers out - - - - Net inter-pool transfers in (out) - - - - Change in net position (82,400) (48,265) - (264) Net position at beginning of period 114,490 80,355 1,000 1,264 Net position at end of period$ 32,090 $ 32,090 $ 1,000 $ 1,000 See accompanying notes to unaudited financial statements. 6 Economic Development Total Month of Fiscal Year Month of Fiscal Year May (11 Months) May (11 Months) $ 7 $ 82 $ 1,785 $ 23,543 - - 7 220 (1) (15) 49 4,177 - - - - 6 67 1,841 27,940 - - 181 1,895 - - 15 154 - 1 128 1,375 - 1 324 3,424 6 66 1,517 24,516 - - 489 6,562 (5) (65) 118 (7,597) 1 1 2,124 23,481 - - 2,166,345 13,843,858 - - 1,837 31,626 - - - 34,943 - - 2,168,182 13,910,427 1 1 2,170,306 13,933,908 - - 1,470 23,562 - - 489 6,562 - - 1,959 30,124 - - 1,245,413 12,900,838 - 90 82,440 84,450 - 90 1,327,853 12,985,288 - 90 1,329,812 13,015,412 1 (89) 840,494 918,496 - - - 29,350 - - - (29,350) - - - - 1 (89) 840,494 918,496 1,663 1,753 6,545,529 6,467,527 $ 1,664 $ 1,664 $ 7,386,023 $ 7,386,023 7 (This page intentionally left blank.) 8 West Virginia Board of Treasury Investments Consolidated Fund Notes to Unaudited Financial Statements May 31, 2021 1. Organization and Operations The West Virginia Board of Treasury Investments (the “BTI”) is charged with managing the individual investment pools and accounts of the Consolidated Fund under authority of West Virginia State Code Chapter 12, Article 6C, West Virginia Treasury Investments Act. The West Virginia Legislature established the BTI as a public corporation of the State of West Virginia, to make short-term operating funds of the state more accessible to state government and to allow the West Virginia Investment Management Board (the “IMB”), which had managed the Consolidated Fund, to focus on the state’s long- term trust investments. The Consolidated Fund is the statutory title of the fund that collectively refers to the investment pools and accounts that the BTI manages.
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