Pennsylvania Code
Pennsylvania Code & Bulletin
COMMONWEALTH OF PENNSYLVANIA

• No statutes or acts will be found at this website.

The Pennsylvania Bulletin website includes the following: Rulemakings by State agencies; Proposed Rulemakings by State agencies; State agency notices; the Governor’s Proclamations and Executive Orders; Actions by the General Assembly; and Statewide and local court rules.

PA Bulletin, Doc. No. 00-1889

NOTICES

PENNSYLVANIA INTERGOVERNMENTAL
COOPERATION AUTHORITY

Financial Statement

[30 Pa.B. 5599]

   Under section 207 of the Pennsylvania Intergovernmental Cooperation Authority Act for Cities of the First Class (act of June 5, 1991 (P. L. 9, No. 6)) the Pennsylvania Intergovernmental Cooperation Authority (Authority) is required to publish a ''concise financial statement'' annually in the Pennsylvania Bulletin. The Authority has issued its annual report for its fiscal year ended June 30, 2000, which includes an audit for the period performed in accordance with generally accepted auditing standards by an independent firm of certified public accountants. The complete annual report of the Authority may be obtained from the Authority at 1429 Walnut Street, 14th floor, Philadelphia, PA 19102, (215) 561-9160.

JOSEPH C. VIGNOLA,   
Executive Director

SUMMARY PUBLISHED UNDER SECTION 207 OF ACT 1991-6
OF THE COMMONWEALTH OF PENNSYLVANIA

PENNSYLVANIA INTERGOVERNMENTAL COOPERATION AUTHORITY

CONDENSED BALANCE SHEET
JUNE 30, 2000
ASSETS
Current Assets:
   Cash and short-term investments$ 164,870,107
   PICA taxes receivable3,619,922
   Accrued interest receivable518,847
   Interfund receivable         235,448
            Total current assets169,244,324
PROPERTY, PLANT AND EQUIPMENT--Office furniture and equipment154,979
OTHER ASSETS--Prepaid rent and security deposit11,545
AMOUNT AVAILABLE IN DEBT SERVICE FUNDS FOR RETIREMENT OF
   LONG-TERM DEBT		88,796,161
AMOUNT TO BE PROVIDED FOR RETIREMENT OF LONG-TERM DEBT     870,623,839
TOTAL ASSETS$1,128,830,848
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES:
   Accounts payable$         71,969
   Accrued payroll and taxes332,986
   Due to the City of Philadelphia3,861,164
   Bonds payable--current portion57,570,000
   Interfund payable        235,448
            Total current liabilities    62,071,567
BONDS PAYABLE--Long-term portion  901,850,000
FUND EQUITY:
   Fund balances:
      Unreserved352,331
      Reserved for debt service88,796,161
      Reserved for the benefit of the City of Philadelphia73,689,810
      Reserved for subsequent PICA administration         1,916,000
              Total fund balances     164,754,302
      Investment in general fixed assets           154,979
TOTAL LIABILITIES AND FUND EQUITY$1,128,830,848
CONDENSED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
YEAR ENDED JUNE 30, 2000
REVENUES:
   PICA taxes$ 259,059,205
   Interest earned on investments     14,688,848
            Total revenues   273,748,053
EXPENDITURES:
   Grants to the City of Philadelphia175,696,385
   Debt service:
      Principal54,675,000
      Interest52,396,149
   Administration:
      Operations1,190,045
      Capital outlay28,700
      Debt issuance costs           10,017
            Total expenditures   283,996,296
EXCESS OF EXPENDITURES AND OTHER USES
OVER REVENUES AND OTHER SOURCES		(10,248,243)
FUND BALANCES, JULY 1, 1999   175,002,545
FUND BALANCES, JUNE 30, 2000$   164,754,302
[Pa.B. Doc. No. 00-1889. Filed for public inspection October 27, 2000, 9:00 a.m.]


No part of the information on this site may be reproduced for profit or sold for profit.

This material has been drawn directly from the official Pennsylvania Bulletin full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.