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PUBLIC NOTICE

640 Eshelman St.
Highspire, PA View larger map

PUBLIC NOTICE

 

NOTICE OF AUDIT

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

We, the duly appointed auditors of the Highspire Borough Authority, for the year ended December 31, 2018, 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 August 2, 2019.

HIGHSPIRE BOROUGH AUTHORITY

BALANCE SHEET

DECEMBER 31, 2018

ASSETS

          Cash and cash equivalents                                                         $1,028,137

          Accounts receivable - Lower Swatara Township Municipal

          Authority, share of construction and improvement costs                53,790

          Accrued interest receivable                                                          1,568

          Total assets                                                                                $1,083,495

LIABILITIES AND FUND BALANCES

LIABILITIES

          Accounts payable                                                                        $23,724

FUND BALANCES

          Restricted - construction and improvements                                  638,842

          Unassigned                                                                                420,929

          Total fund balances                                                                    1,059,771

          Total liabilities and fund balances                                                 $1,083,495

HIGHSPIRE BOROUGH AUTHORITY

STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCE

YEAR ENDED DECEMBER 31, 2018

REVENUES

          Lease rentals - Borough of Highspire                                           $35,000

          Tapping and connection fees                                                      1,500

          Sale of nutrient credits                                                                 12,603

          Investment income                                                                      14,100

          Total revenues                                                                            63,203

EXPENDITURES

          Administrative expenses                                                               28,217

          Construction and improvement costs                                            4,568

          Total expenditures                                                                      32,785

          Excess of revenues over (under) expenditures                             30,418

OTHER FINANCING SOURCES (USES)

          Refund to developer - construction                                              (14,475)

          Excess revenues and other sources over (under)

          expenditures and other uses                                                       15,943

FUND BALANCE, BEGINNING OF YEAR                                               1,043,828

FUND BALANCE, END OF YEAR                                                          $1,059,771

 

#197 0911-1T

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Posted 9/11/2019