PUBLIC NOTICE AUDITORS' REPORT NORTH AND SOUTH SHENANGO JOINT MUNICIPAL AUTHORITY STATEMENT OF NET POSITION AS OF DECEMBER 31, 2013 A S S E T S Cash and Cash Equivalents $ 323,465 Receivables, Net 427,428 Prepaid Insurance 47,304 Restricted Assets 3,668,402 Net Capital Assets 10,871,344 TOTAL ASSETS: $ 15,337,943 DEFERRED OUTFLOWS OF RESOURCES: $ 248,976 TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES: $ 15,586,919 L I A B I L I T I E S A N D N E T P O S I T I O N Accounts Payable and Accrued Expenses $ 52,827 Notes and Bonds Payable (Net of Deferred Amounts) 4,875,000 Net Position 10,659,092 Deferred Inflows of Resources 0 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION: $ 15,586,919 STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION FOR THE YEAR ENDED DECEMBER 31, 2013 OPERATING REVENUES: User Fees $ 1,137,025 Other 69,578 TOTAL OPERATING REVENUES: $ 1,206,603 Operating Expenses (Including $305,729 In Depreciation Expense): $ 927,034 Operating Income: $ 279,569 Non-Operating Revenues (Expenses): ( 180,776) Change In Net Position: $ 98,793 Beginning Net Position (As Restated): 10,560,299 Ending Net Position: $10,659,092 The above condensed statement of net position and statement of revenues and expenses, together with the footnotes, especially those related to commitments and contingencies not presented herein, but which are an integral part of the financial statements and are available at the Authority's office, present fairly the financial position of the North and South Shenango Joint Municipal Authority as of December 31, 2013, and its operations for the year then ended. D. M. Meyer, Secretary NORTH AND SOUTH SHENANGO JOINT MUNICIPAL AUTHORITY 03/31/14
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