PUBLIC NOTICE Meadville Area Water Authority Statement of Change in Net Position Year Ended December 31, 2013 REVENUES Charges to users $ 2,781,133 Other 234,169 3,015,302 EXPENSES System operating costs 901,874 Other operating expenses 594,394 Interest expense 474,459 Refunding loan and unamortized bond costs 174,715 Depreciation and amortization 499,218 2,644,660 CHANGE IN NET POSITION 370,642 NET POSITION, BEGINNING OF YEAR 5,941,937 NET POSITION, END OF YEAR $ 6,312,579 Statement of Net Position December 31, 2013 ASSETS Cash and cash equivalents $ 2,047,620 Cash and cash equivalents - restricted for capital projects 8,195,000 Certificates of deposit 1,361,370 Accounts receivable, net 407,129 Inventory 155,620 Prepaid expenses 35,854 Property, plant and equipment, at cost, net of accumulated depreciation 11,876,967 $24,079,560 DEFERRED OUTFLOWS OF RESOURCES Deferred amount on refunding bonds, net 549,262 $24,628,822 LIABILITIES AND NET POSITION Accounts payable $ 26,411 Accrued interest payable 140,326 Other liabilities 6,715 Notes payable 18,142,791 Net position 6,312,579 $24,628,822 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. 9/12/2014
↧