Details for MIDDLESEX TWP MUNICIPAL AUTHORITY - Ad from 2018-05-08
MIDDLESEX TOWNSHIP MUNICIPAL AUTHORITY SUMMARY FINANCIAL INFORMATION - MODIFIED CASH BASIS YEAR ENDED DECEMBER 31, 2017 Published in accordance with Section 8 of the Pennsylvania Municipality Authorities Act of 1945, as amended SUMMARY STATEMENT OF NET POSITION ASSETS Cash and cash equivalents Time deposits Capital assets not being depreciated Capital assets being depreciated (net of accumulated depreciation) Deferred capacity costs (net of accumulated amortization) $ 2,581,574 418,229 236,576 8,796,371 4,358,746 Total assets 16,391,496 LIABILITIES Escrow liabilities Long-term debt 82,083 1,739,686 Total liabilities NET POSITION 1,821,769 $ 14,569,727 SUMMARY STATEMENT OF REVENUES. EXPENSES AND CHANGES IN NET POSITION Operating revenues Sales of services/user charges Interest income Other operating revenue Total operating revenues Operating expenses Cost of sales and service Depreciation Other operating expenses Total operating expenses Operating income Non-operating revenues and (expenses), net Capital contributions received Change in net position Net position - January 1, 2017 Net position - December 31, 2017 $ 2,093,962 7,048 501,042 2,602,052 911,683 394,230 639,801 1,945,714 656,338 29,592 39,708 725,638 13,844,089 $ 14,569,727 Note 1: The summary financial information shown above differs from U.S. generally accepted accounting principles. Significant differences are as follows: modified cash basis of accounting is utilized; footnote disclosures are excluded; a cash flow statement is not presented; Management’s Discussion and Analysis is not included and classifications of net assets are not included. Note 2: Complete copies of the annual audited financial statements are available for examination upon request from the Authority.