PUBLIC NOTICE TOWNSHIP OF FRANKLIN, CARBON COUNTY ANNUAL AUDIT AND FINANCIAL REPORT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - GOVERNMENTAL FUNDS Year Ended December 31, 2019 FUND BALANCE, Beginning $ 1,940,116 REVENUES Taxes 1,421,385 Licenses and permits 960 Fines and Forfeits 18,882 Interest, rents and royalties 39,022 State revenue 333,515 Local revenue 4,949 Charges for services 426,723 Unclassified operating revenue 175,000 Other Financing Sources 127,087 TOTAL REVENUES 2,547,923 EXPENDITURES Community development 227,001 Culture and recreation 721,516 Employer paid benefits/withholding items 344,483 General government 483,705 Health and human service - Public works - highways and streets 346,787 Public works - sanitation 20,385 Other Financing Uses 107,666 TOTAL EXPENDITURES 2,340.783 FUND BALANCE, Ending $ 2,147,256 BALANCE SHEET - GOVERNMENTAL FUNDS December 31, 2019 ASSETS Cash and Investments $ 1,893,944 Taxes Receivable, Net 224,125 Other Current Assets 115,628 TOTAL ASSETS $ 2,233,697 LIABILITIES AND FUND BALANCE Accounts Payable $ 13,342 Other Current Liabilities 34,970 Deferred Inflows of Resources 38,129 Fund Balance 2,147,256 TOTAL LIABILITIES AND FUND BALANCE $ 2,233,697 STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - SEWER FUND Year Ended December 31, 2019 NET POSITION, Beginning $ 2,486,476 REVENUES Operating revenues 518,625 Nonoperating revenues 9,846 TOTAL REVENUES 528,471 EXPENSES Operating 462,517 Nonoperating expenses 18,041 TOTAL EXPENSES 480.558 NET POSITION, Ending $ 2,534,389 STATEMENT OF NET POSITION - SEWER FUND December 31, 2019 ASSETS Cash and Investments $ 485,594 Accounts Receivable, Net 129,760 Other Current Assets 1,512 Fixed Assts, Net 3,671,109 TOTAL ASSETS $ 4,287,975 LIABILITIES AND NET POSITION Accounts Payable $ 2,295 Other Current Liabilities 3,557 Long-Term Debt 1,747,734 Net Position 2,534,389 TOTAL LIABILITIES AND NET POSITION $ 4,287,975 Taxed Assessed Value of the Township: Real Estate Tax: $108,698,005 Fire Hydrant Tax: $ 16,651,650 Building Tax: $108,698,063 Outstanding Debt of the Township: PennVest Guaranteed Sewer Revenue Bond - $1,747,734 Maturing March 1, 2033 The audit of accounts have been performed by the Township's Appointed Auditors for the year ended December 31, 2019. The above statements have been compiled from the issued Financial Statements for 2019. The complete audit report is available for inspection at the Township office during normal business hours. June 24