NOTICES

PORT OF PITTSBURGH COMMISSION

Independent Auditors' Report

[30 Pa.B. 6045]

Board of Directors
Port of Pittsburgh Commission
Pittsburgh, Pennsylvania

   We have audited, in accordance with generally accepted auditing standards, the balance sheet of Port of Pittsburgh Commission Special Revenue Fund (Commission), a component unit of the Commonwealth of Pennsylvania, as of June 30, 2000, and the related statement of revenues, expenditures and changes in fund balance for the year ended (not presented herein); and, in our report dated September 13, 2000, we express an unqualified opinion on those financial statements.

   As described below, the accompanying summary financial information of the Commission as of and for the year June 30, 2000 is not a presentation in conformity with generally accepted accounting principles. In our opinion, however, the accompanying summary financial information is fairly stated, in all material respects, in relation to the financial statements from which it has been derived.

Terry & Stephenson, P. C.
429 Forbes Avenue, Suite 1600
Pittsburgh, PA 15219

September 13, 2000
Pittsburgh, Pennsylvania

Port of Pittsburgh Commission Special Revenue Fund (A Component Unit of the Commonwealth of Pennsylvania) Balance Sheet June 30, 2000

Assets:
Cash and investments	$1,406,297
Other assets	7,581
Total Assets	$1,413,878
Liabilities and Fund Balance:
Liabilities	$2,021,683
Fund balance (accumulated deficit) -
reserved for economic development	(607,805)
Total Liabilities and Fund Balance	$1,413,878

Statement of Revenues, Expenditures, and Changes in Fund Balance for the Year Ended June 30, 2000

Revenues and Other Financing Sources:
Interest, rental, and other income	$  159,540
Intergovernmental transfers	901,000
	1,060,540
Expenditures:
Operating	600,606
Capital	83,564
Other	79,559
	763,729
Excess of revenues and other
financing sources over expenditures	296,811
Fund balance, beginning of year	(904,616)
Fund balance, end of year	($607,805)

   The summary financial information shown above differs from generally accepted accounting principles. Differences include amounts grouped; captions summarized; footnote disclosures are omitted.

Submitted by:

JAMES R. MCCARVILLE,   
Executive Director

[Pa.B. Doc. No. 00-2024. Filed for public inspection November 17, 2000, 9:00 a.m.]

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