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PUBLIC NOTICE VERNON TOWNSHIP SANITARY AUTHORITY STATEMENT OF REVENUES, EXPENSES AND CHANGE IN NET POSITION YEAR ENDED DECEMBER 31, 2017 REVENUES Sewer rentals $ 1,519,59 Tap-in fees 4,669 Interest income 8,297 Other income 10,941 1,543498 EXPENSES System operating costs 633,004 Other operating expenses 239,609 Interest expense 47,071 Depreciation 308,488 1,228,172 CHANGE IN NET POSITION 315,326 BEGINNING, NET POSITION 6,070,993 ENDING, NET POSITION $ 6,386,319 STATEMENT OF NET POSITION DECEMBER 31, 2017 ASSETS Cash and cash equivalents $ 473,710 Certificates of Deposit 150,000 Investments 1,157,215 Sewer rentals receivable, net 169,236 Prepaid insurance 9,792 Property, plant and equipment, at cost, net of accumulated depreciation 6,247,632 Deferred outflows 552 $ 8,208,137 LIABILITIES AND NET POSITION Accounts payable $ 81,875 Accrued expenses 5,045 Deferred inflos of resources 825 Long-term debt 1,734,073 Net position 6,386,319 $ 8,208,137 This summary financial statement is presented in accordance with the Pennsylvania Municipal Authorities Act of 1945, P.L. 382. The detailed audited financial statements reported on by Certified Public Accountants are on file at the Authority's office in the Township of Vernon. 08/29/18
