PUBLIC NOTICE MEADVILLE AREA WATER AUTHORITY STATEMENT OF CHANGE IN NET ASSETS YEAR ENDED DECEMBER 31, 2012 REVENUES Charges to users $2,841,743 Other 201,258 $3,043,001 EXPENSES System operating costs 862,433 Other operating expenses 561,087 Interest expense 416,253 Depreciation and amortization 510,534 2,350,307 CHANGE IN NET ASSETS 692,694 NET ASSETS, BEGINNING OF YEAR 5,320,844 NET ASSETS, END OF YEAR $6,013,538 STATEMENT OF NET ASSETS DECEMBER 31, 2012 ASSETS Cash and cash equivalents $1,185,499 Cash and cash equivalents - restricted for debt service 1,368,084 Certificates of deposit 822,584 Accounts receivable, net 388,787 Loan funds receivable 109,866 Inventory 177,226 Prepaid expenses 30,161 Property, plant and equipment, at cost, net of accumulated depreciation 11,980,708 Bond issue costs and discounts, net of accumulated amortization 62,785 $16,225,700 LIABILITIES AND NET ASSETS Accounts payable $67,420 Accrued interest payable 185,312 Other liabilities 5,138 Notes payable 3,099,292 Bonds payable 6,855,000 Net assets 6,013,538 $16,225,700 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 City of Meadville. 07/29/13
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