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PA Bulletin, Doc. No. 99-104



Independent Auditor's Report

[29 Pa.B. 385]

Board of Directors
Port of Pittsburgh Commission
Pittsburgh, PA

We have audited, in accordance with generally accepted auditing standards, the balance sheet of the Port of Pittsburgh Commission Special Revenue Fund (Commission), a component unit of the Commonwealth of Pennsylvania, as of June 30, 1998, and the related statement of revenues, expenditures and changes in fund balance for the year ended (not presented herein); and, in our report dated November 20, 1998, we expressed an unqualified opinion on those financial statements.

As described in the following summary financial information of the Commission as of and for the year ended June 30, 1998 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.

November 20, 1998
Pittsburgh, Pennsylvania

Port of Pittsburgh Commission Special Review Fund
(A Component Unit of the Commonwealth of Pennsylvania
Balance Sheet
June 30, 1998

   Cash and investments $715,916
   Other assets       3,469
                     Total Assets $719,385
Liabilities and Fund Balance:
   Liabilities $  77,094
   Fund balance - reserved for economic development   642,291
                     Total Liabilities and Fund Balance $719,385

Statement of Revenues, Expenditures, and Changes in Fund Balance
For the Year Ended June 30, 1998

Revenues and Other Financing Sources:
   Interest and Other Income $  36,076
   Intergovernmental transfers 618,000
Expenditures 542,293
Excess of revenues and other financing sources over expenditures 111,783
Fund balance, beginning of year 530,508
Fund balance, end of year $642,291

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

Certified by

Administrative Director

[Pa.B. Doc. No. 99-104. Filed for public inspection January 15, 1999, 9:00 a.m.]

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