PUBLIC NOTICE BOROUGH OF JIM THORPE, CARBON COUNTY ANNUAL AUDIT AND FINANCIAL REPORT STATEMENT OF ACTIVITIES Year Ended December 31, 2019 NET POSITION, January 1, 2019 $ 18,000,256 REVENUES GENERAL: Taxes 1,380,421 Act 511 taxes 673,160 State and local revenue - restricted 450,341 State and local revenue - unrestricted 208,824 Charges for services 333,016 Other 297,818 Operating transfers 11,500 BUSINESS TYPE: Sewer 2,618,954 Water 1,257,788 Sanitation 738,229 TOTAL REVENUES 7,970,051 EXPENDITURES GENERAL: General government 502,025 Public safety 1,412,323 Public works, highways and streets 991,639 Culture and recreation 92,597 Debt service 34,420 Other operating expenditures 5,618 BUSINESS-TYPE: Sewer 932,717 Water 1,119,509 Sanitation 675,611 TOTAL EXPENDITURES 5,766,459 NET POSITION, December 31, 2019 $ 20,203,848 STATEMENT OF NET POSITION December 31, 2019 ASSETS AND DEFERRED OUTFLOWS Cash and Investments $ 5,534,867 Accounts Receivable, Net 9,291 Tax Receivable, Net 381,938 Other Current Assets 6,058 Fixed Assets, Net 28,088,297 Other Long-Term Assets 4,336 Deferred outflows - pensions 292.404 $ 34,317,191 LIABILITIES AND DEFERRED INFLOWS Current Liabilities $ 1,095,941 Other Current Liabilities Long-Term Debt 11,937,327 Capital Leases Payable 165,460 Compensated Absences 148,683 Net Pension Liability 650,768 Deferred Inflows - Pension 115,164 $ 14,113,343 NET POSITION Net investment in capital assets $ 15,019,666 Restricted 4,582,535 Unrestricted 601,647 $ 20,203,848 Taxed Assessed Value of the Borough: Real Estate Tax: $ 110,607,644 Schedule of Long-Term Debt of the Borough GENERAL DEBT: General Obligation Note Series of 2009 - Maturing December 2028 $ 155,009 General Obligation Note Series of 2008 - Maturing December 2028 201,455 General Obligation Note Series of 2018 - Maturing April 2028 388,563 Capital Lease Payable - Maturing June 2021 39,636 Capital Lease Payable - Maturing May 2021 41,101 Capital Lease Payable - Maturing June 2021 37,520 Capital Lease Payable - Maturing October 2023 106,108 WATER DEBT: MCTC Water Revenue Bond Series 1998 - Maturing January 2023 762,000 PennVest Water Note Payable Maturing July 2023 3,764,669 Water Lease Payable - Maturing July 2021 29,242 SEWER DEBT: MCTC Sewer Revenue Bond Series 1998 - Maturing January 2023 568,000 PennVest Sewer Note Payable Maturing July 2023 396,554 PennVest Sewer Note Payable Maturing August 2029 517,999 USDA Note Payable - Series 2018 Maturing October 2056 6,040,697 Sewer Lease Payable - Maturing July 2022 29,078 TOTAL LONG-TERM DEBT $ 13,068,631 The audit of accounts have been performed by the Borough'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 Borough office during normal business hours. June 24