CAMBRIA COUNTY TRANSIT AUTHORITY JOHNSTOWN, PENNSYLVANIA 15901 Financial Statements (Published in Compliance with Section 8 of the Municipality Authorities Act of 1945) June 30, 2016 STATEMENT OF NET POSITION Assets Current Assets: Cash $ 412,807 Other Current Assets 939,671 Total Current Assets 1,352,478 Restricted Assets 6,575,095 Capital Assets, Net of Accumulated Depreciation 32,290,244 Total Assets 40,217,817 Deferred Outflows of Resources 517,064 Total Assets and Deferred Outflows of Resources $ 40,734,881 Liabilities Current Liabilities $ 7,406,524 Long Term Liabilities 1,348,722 Total Liabilities 8,755,246 Deferred Inflows of Resources 0 Net Position Invested in Capital Assets, Net of Related Debt 32,290,244 Unrestricted (310,609) Total Net Position 31,979,635 Total Liabilities, Deferred Inflows of Resources and Net Position 40,734.881 STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION Operating Revenues $ 2,112,834 Operating Expenses 12,661,645 Operating Income (Loss) (10,548,811) Non-Operating Revenues (Expenses) 8,274,456 Loss Before Capital Grant Contributions (2,274,355) Capital Grant Contributions 645,028 Change in Net Position (1,629,327) Net Position July 1, 2015 33,608,962 Net Position June 30, 2016 $ 31,979,635 The above is a condensed copy of an audit completed by a Certified Public Accounting firm. A complete copy of the audit is available in the Authority office.
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