PUBLIC NOTICE VERNON TOWNSHIP SANITARY AUTHORITY STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS YEAR ENDED DECEMBER 31, 2012 REVENUES Sewer rentals $1,678,202 Tap-in fees 9,765 Interest income 5,728 Other income 1,065 1,694,760 EXPENSES System operating costs 611,144 Other operating expenses 217,128 Interest expense 100,352 Depreciation 353,385 1,282,009 CHANGE IN NET ASSETS 412,751 BEGINNING, NET ASSETS 4,228,523 ENDING, NET ASSETS $4,641,274 STATEMENT OF NET ASSETS DECEMBER 31, 2012 ASSETS Cash and cash equivalents $1,368,167 Sewer rentals receivable, net 175,025 Prepaid insurance 9,792 Property, plant and equipment, at cost, net of accumulated depreciation 6,809,697 $8,362,681 LIABILITIES AND NET ASSETS Accounts payable $75,253 Accrued expenses 9,616 Long-term debt 3,636,538 Net assets 4,641,274 $8,362,681 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. 08/26/13
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