RANDOLPH COUNTY DEVELOPMENT AUTHORITY
(A STATUTORY CORPORATION)
STATEMENT OF FINANCIAL POSITION – PROPRIETARY FUND
JUNE 30, 2022
ASSETS
Current Assets
Cash and cash equivalents $762,414
Accounts Receivable, net 6,914
Accrued fees receivable 36,000
Current portion lease receivable 326,836
Current portion loans receivable 25,000
Total Current Assets 1,157,164
Real Estate, property, and equipment,
less accumulated depreciation 3,108,171
Restricted Land 51,517
Total Fixed Assets 3,159,688
Long Term Receivables, less current portion 6,414,429
Other Assets
Investments 244,159
Restricted Asset 5,570
Total Other Assets 249,729
Total Assets $10,981,010
RANDOLPH COUNTY DEVELOPMENT AUTHORITY
(A STATUTORY CORPORATION)
STATEMENT OF FINANCIAL POSITION – PROPRIETARY FUND
JUNE 30, 2022
LIABILITIES AND NET ASSETS
Current Liabilities
Current portion loans payable $203,423
Current portion deferred revenue 36,000
Current portion lease payable 10
Deposits 21,250
Accounts Payable 14,376
Payroll Withholdings 4,040
Total Current Liabilities 279,098
Long term debt, less current portion 6,471,258
Net Position
Net invested in capital assets 3,108,171
Restricted 57,087
Unrestricted 1,065,396
Total Net Position 4,230,653
Total Liabilites and Net Position $10,981,010
RANDOLPH COUNTY DEVELOPMENT AUTHORITY
(A STATUTORY CORPORATION)
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION – PROPRIETARY FUND
FOR THE YEAR ENDED JUNE 30, 2022
Operating Revenues
Tuition $72,299
Rental Income 187,690
Dues 21,865
WTC Projects 29,991
Other 85,354
Total Revenues 397,198
Operating Expenses
Administrative and general expenses 23,494
Contracted services 6,096
Depreciation 92,363
Insurance 28,236
Marketing 29,519
Professional development, travel and meetings 7,929
Professional fees 10,016
Repairs and maintenance 17,246
Salaries and wages 148,126
Shop Expenses 50,383
Utilities 41,417
Total expenses 454,824
Non Operating Revenues (Expenses)
Grant Income 206,116
Contribution Income 178,500
Interest Income 8,070
Dividend Income 2,354
Unrealized Gain (Loss) on investments (10,578)
Interest Expense (3,336)
Grant Expense (183,389)
Total other revenues (expenses) 197,737
Increase (Decrease) in net position 140,111
Net position at beginning of year 4,090,542
Net position at end of year $4,230,653
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