PUBLIC NOTICE MUNICIPAL AUTHORITY OF THE BOROUGH OF CONNEAUT LAKE STATEMENT OF CHANGE IN NET ASSETS YEAR ENDED JULY 31, 2012 REVENUES User charges, net $395,680 Other income 3,437 399,117 EXPENSES System operating costs 171,266 Other operating and non-operating expenses 47,172 Depreciation and amortization 98,047 Interest expense 8,671 325,156 CHANGE IN NET ASSETS 73,961 BEGINNING NET ASSETS 1,545,353 ENDING NET ASSETS $ 1,619,314 STATEMENT OF NET ASSETS July 31, 2012 ASSETS Cash and cash equivalents $ 321,715 Accounts receivable, net 55,807 Due from other governments 11,218 Prepaid expenses 6,699 Property, plant and equipment, at cost, net 2,082,304 Other assets, net 9,822 $ 2,487,565 LIABILITIES AND NET ASSETS Accounts payable $ 13,656 Accrued expenses 5,998 Long-term debt 848,597 Net assets 1,619,314 $ 2,487,565 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 Borough of Conneaut Lake. 03/18/13
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