Classifieds
locally owned since 1854

Public Notice

640 Eshelman Street
Highspire, PA1 17034
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NOTICE OF AUDIT

The accompanying concise financial statements are hereby presented in accordance with Section 8 of the Pennsylvania Municipality Authority Act.

HIGHSPIRE BOROUGH AUTHORITY

BALANCE SHEET

DECEMBER 31, 2017

ASSETS

Cash and cash equivalents $ 943,907

Accounts receivable-Lower Swatara Township

Municipal Authority, share of construction

and improvement costs 201,766

Accrued interest receivable 592

Total assets $1,146,265

LIABILITIES AND FUND BALANCES

LIABILITIES

Accounts payable $ 102,437

FUND BALANCES

Restricted-construction and improvements 649,618

Unassigned 394,210

Total fund balances 1,043,828

Total liabilities and fund balances

$1,146,265

HIGHSPIRE BOROUGH AUTHORITY

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE

YEAR ENDED DECEMBER 31, 2017

REVENUES

Lease rentals-Borough of Highspire $ 35,000

Dauphin County IGA Gaming Grant 139,831

Investment income 4,907

Total revenues 179,738

EXPENDITURES

Administrative expenses 23,392

Construction and improvement costs 450,705

Total expenditures 474,097

Excess of revenues over (under)

expenditures (294,359)

OTHER FINANCING SOURCES (USES)

Reimbursement from developer-construction 322,404

Reimbursement from developer-engineering 20,000

Total other financial sources (uses)342,404

Excess revenues and other sources over

(under) expenditures and other uses 48,045

FUND BALANCE, BEGINNING OF YEAR 995,783

FUND BALANCE, END OF YEAR $1,043,828

We, the duly appointed auditors of the Highspire Borough Authority, for the year ended December 31, 2017, do hereby certify that the above statements are a true and correct statement from our Auditor’s Report filed with the Pennsylvania Department of Community and Economic Development on June 22, 2018.

#219 0711-1T

www.publcnoticepa.com

Posted 12/31/1969