The Times Herald, AUDIT NOTICE UPPER MERION TRANSPORTATION AUTHORITY (A Component Unit of Upper Merion Township) STATEMENT OF NET POSITION DECEMBER 31, 2014 ASSETS CURRENT ASSETS Cash $ 248,679 Investments 3,344,940 Loan receivable, current portion 8,501 Interest receivable 1,077 Grant receivable 393,165 TOTAL CURRENT ASSETS 3,996,362 NONCURRENT ASSETS Loan receivable, less current portion 24,629 TOTAL ASSETS 4,020,991 LIABILITIES CURRENT LIABILITIES Accounts payable 85,099 Due to Upper Merion Township 18,399 Accrued interest payable 15,702 Current portion of loan payable 335,833 TOTAL CURRENT LIABILITIES 455,033 NONCURRENT LIABILITIES Loan payable, less current portion 2,508,526 LIABILITIES 2,963,559 NET POSITION $ 1,057,432 Unrestricted Published in accordance with Section 5612 of the Municipality Authorities Act 22 of 2001. The annual audit and financial report of the Authority are available for public inspection at the Authority’s office during normal business hours. AUDIT NOTICE UPPER MERION TRANSPORTATION AUTHORITY (A Component Unit of Upper Merion Township) STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION YEAR ENDED DECEMBER 31, 2014 OPERATING REVENUES Assessments $ 359,296 Grants 378,444 TOTAL OPERATING REVENUES 737,740 OPERATING EXPENSES Professional fees 11,013 Miscellaneous 2,810 Road construction 572,022 Reimbursement to Upper Merion Township 132,103 TOTAL OPERATING EXPENSES 717,948 OPERATING INCOME 19,792 NONOPERATING REVENUES (EXPENSES) Investment income 7,663 Interest expense (49,766) TOTAL NONOPERATING REVENUES (EXPENSES) (42,103) CHANGE IN NET POSITION (22,311) NET POSITION AT BEGINNING OF YEAR 1,079,743 NET POSITION AT END OF YEAR $ 1,057,432 Published in accordance with Section 5612 of the Municipality Authorities Act 22 of 2001. The annual audit and financial report of the Authority are available for public inspection at the Authority’s office during normal business hours. NTH 7/16 1-a
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