PENNSYLVANIA INTERGOVERNMENTAL
COOPERATION AUTHORITYFinancial 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 DirectorSUMMARY PUBLISHED UNDER SECTION 207 OF ACT 1991-6
OF THE COMMONWEALTH OF PENNSYLVANIAPENNSYLVANIA INTERGOVERNMENTAL COOPERATION AUTHORITY CONDENSED BALANCE SHEET
JUNE 30, 2000ASSETS Current Assets: Cash and short-term investments $ 164,870,107 PICA taxes receivable 3,619,922 Accrued interest receivable 518,847 Interfund receivable 235,448 Total current assets 169,244,324 PROPERTY, PLANT AND EQUIPMENT--Office furniture and equipment 154,979 OTHER ASSETS--Prepaid rent and security deposit 11,545 AMOUNT AVAILABLE IN DEBT SERVICE FUNDS FOR RETIREMENT OF
LONG-TERM DEBT88,796,161 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 taxes 332,986 Due to the City of Philadelphia 3,861,164 Bonds payable--current portion 57,570,000 Interfund payable 235,448 Total current liabilities 62,071,567 BONDS PAYABLE--Long-term portion 901,850,000 FUND EQUITY: Fund balances: Unreserved 352,331 Reserved for debt service 88,796,161 Reserved for the benefit of the City of Philadelphia 73,689,810 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, 2000REVENUES: PICA taxes $ 259,059,205 Interest earned on investments 14,688,848 Total revenues 273,748,053 EXPENDITURES: Grants to the City of Philadelphia 175,696,385 Debt service: Principal 54,675,000 Interest 52,396,149 Administration: Operations 1,190,045 Capital outlay 28,700 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.]
