PUBLIC NOTICE BOROUGH OF CONNEAUT LAKE STATEMENT OF INCOME AND RETAINED EARNINGS YEAR ENDED DECEMBER 31, 2012 REVENUES Taxes collected $ 203,937 State revenues 52,771 Charges for services 51,629 Interest income 1,227 Other income 135,150 444,714 EXPENDITURES Wages 83,745 Other operating expenditures 336,265 420,010 NET INCOME 24,704 RETAINED EARNINGS, BEGINNING 198,192 RETAINED EARNINGS, ENDING $ 222,896 BALANCE SHEET December 31, 2012 ASSETS Cash and cash equivalents $ 224,381 Payroll tax liabilities $ 1,485 Retained earnings 222,896 $ 224,381 The detailed audited financial statements reported on by Certified Public Accountants are on file at the Boroughs office. 03/19/13
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