PUBLIC NOTICE VERNON TOWNSHIP SANITARY AUTHORITY STATEMENT OF REVENUES, EXPENSES AND CHANGE IN NET POSITION YEAR ENDED DECEMBER 31, 2013 REVENUES Sewer rentals $1,629,047 Tap-in fees 8,370 Interest income 4,380 Other income 1,753 1,643,550 EXPENSES System operating costs 642,914 Other operating expenses 200,149 Interest expense 89,803 Depreciation 354,345 1,287,211 CHANGE IN NET POSITION 356,339 BEGINNING, NET POSITION 4,641,274 ENDING, NET POSITION $4,997,613 STATEMENT OF NET POSITION DECEMBER 31, 2013 ASSETS Cash and cash equivalents $1,683,166 Sewer rentals receivable, net 166,053 Prepaid insurance 9,792 Property, plant and equipment, at cost, net of accumulated depreciation 6,464,974 $8,323,985 LIABILITIES AND NET POSITION Accounts payable $72,756 Accrued expenses 10,007 Long-term debt 3,243,609 Net position 4,997,613 $8,323,985 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. 08/11/14
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