PUBLIC NOTICE VERNON TOWNSHIP WATER AUTHORITY STATEMENT OF REVENUES, EXPENSES AND CHANGE IN NET POSITION YEAR ENDED DECEMBER 31, 2013 REVENUES Charges to users, net $ 504,701 Hydrant fees 1,950 Interest income 491 507,142 EXPENSES Wages 71,412 Cost of water 211,639 Other operating costs 121,411 Depreciation 130,080 534,542 CHANGE IN NET POSITION (27,400) NET POSITION, BEGINNING 2,394,549 NET POSITION, ENDING $ 2,367,149 STATEMENT OF NET POSITION DECEMBER 31, 2013 ASSETS Cash and cash equivalents $ 386,904 Accounts receivable 42,291 Prepaid insurance 2,645 Property, plant and equipment, net of accumulated depreciation 1,985,692 Other assets 575 $ 2,418,107 LIABILITIES AND NET POSITION Accounts payable $ 39,724 Accrued payroll 3,194 Meter deposits 8,040 Net position 2,367,149 $ 2,418,107 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. 08/30/14
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