PUBLIC NOTICE VERNON TOWNSHIP SANITARY AUTHORITY STATEMENT OF REVENUES, EXPENSES AND CHANGE IN NET POSITION YEAR ENDED DECEMBER 31, 2016 REVENUES Sewer rentals $ 1,596,903 Tap-in fees 1,174 Interest income 5,781 Other income 22,667 1,626,525 EXPENSES System operating costs 784,527 Other operating expenses 256,938 Interest expense 59,772 Depreciation 296,735 1,397,972 CHANGE IN NET POSITION 228,553 BEGINNING, NET POSITION 5,842,440 ENDING, NET POSITION $ 6,070,993 STATEMENT OF NET POSITION DECEMBER 31, 2016 ASSETS Cash and cash equivalents $ 556,119 Investments 1,140,187 Sewer rentals receivable, net 168,271 Prepaid insurance 9,792 Property, plant and equipment, at cost, net of accumulated depreciation 6,389,951 Deferred outflows 1,059 $ 8,265,379 LIABILITIES AND NET POSITION Accounts payable $ 59,945 Accrued expenses 4,633 Other current liabilities 1,173 Long-term debt 2,128,635 Net position 6,070,993 $ 8,265,379 This summary financial statement is presented in accordance with the Pennsylvania Municipal Authorities Act of 1945, P.L. 382. The detailed audited financial statements reported on by Certified Public Accountants are on file at the Authority's office in the Township of Vernon. 09/14/17
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