2043 Condensed balance sheet and condensed statement of operations and accumulated deficit

PHILADELPHIA REGIONAL PORT AUTHORITY

Condensed Balance Sheet and Condensed Statement of Operations and Accumulated Deficit

[26 Pa.B. 5857]

Condensed Balance Sheet
(Unaudited)
($000)

Assets
Current assets	$  4,713
Restricted assets	5,741
Fixed assets (net)	83,897
Other assets	1,458
Total assets	$95,809
Liabilities and Fund Equity
Current liabilities	$  4,560
Long-term liabilities	61,170
Total liabilities	65,730
Contributed capital	41,332
Accumulated deficit	(11,253)
Total fund equity	30,079
Total liabilities and fund equity	$95,809

Condensed Statement of Operations and Accumulated Deficit
Year ended June 30, 1996
(Unaudited)
($000)

Operating revenues and grants	$12,825
Operating expenses	(7,930)
Depreciation and amortization	(6,400)
Net interest income/(expense)	(3,212)
Net loss before change in accounting    principle	(4,717)
Cumulative effect of change in    accounting principle	5,911
Net Income	1,194
Add depreciation that reduces    contributed capital	3,122
Decrease in Accumulated Deficit	4,316
Accumulated deficit
Beginning of year	$15,569)
End of year	$(11,253)

JAMES T. MCDERMOTT,   
Executive Director

[Pa.B. Doc. No. 96-2043. Filed for public inspection November 29, 1996, 9:00 a.m.]