PUBLIC NOTICE AUDITORS' REPORT NORTH AND SOUTH SHENANGO JOINT MUNICIPAL AUTHORITY STATEMENT OF NET POSITION AS OF DECEMBER 31, 2012 A S S E T S Cash and Cash Equivalents $ 307,891 Receivables, Net 402,035 Prepaid Insurance 40,896 Restricted Assets 3,700,452 Net Capital Assets 10,980,506 TOTAL ASSETS: $ 15,431,780 DEFERRED OUTFLOWS OF RESOURCES: $ 479,047 TOTAL ASSETS AND DEFERRED NET OUTFLOWS OF RESOURCES: $ 15,910,827 L I A B I L I T I E S A N D N E T A S S E T S Accounts Payable and Accrued Expenses $ 49,289 Notes and Bonds Payable (Net of Deferred Amounts) 5,085,000 Net Position 10,776,538 Deferred Inflows of Resources 0 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION: $ 15,910,827 STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS FOR THE YEAR ENDED DECEMBER 31, 2012 OPERATING REVENUES: User Fees $ 1,118,327 Other 33,542 TOTAL OPERATING REVENUES: $ 1,151,869 OPERATING EXPENSES (INCLUDING $ 298,874 IN DEPRECIATION EXPENSE): 926,950 OPERATING INCOME: $ 224,919 NON-OPERATING REVENUES (EXPENSES): ( 184,216) CHANGE IN NET POSITION: $ 40,703 BEGINNING NET POSITION: 10,735,835 ENDING NET POSITION: $ 10,776,538 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, 2012, and its operations for the year then ended. D. M. Meyer, Secretary NORTH AND SOUTH SHENANGO JOINT MUNICIPAL AUTHORITY 03/23/13
↧