RANDOLPH COUNTY DEVELOPMENT AUTHORITY
(A STATUTORY CORPORATION)
STATEMENT OF FINANCIAL POSITION – PROPRIETARY FUND
JUNE 30, 2020
ASSETS
Current Assets
Cash and cash equivalents $332,282
Accounts Receivable, net 235,846
Accrued fees receivable 36,000
Current portion lease receivable 326,835
Current portion loans receivable 25,000
Total Current Assets 955,963
Real Estate, property, and equipment,
less accumulated depreciation 2,736,509
Restricted Land 51,517
Total Fixed Assets 2,788,026
Long Term Receivables, less current portion 7,157,781
Other Assets
Investments 228,302
Restricted Asset 5,570
Total Other Assets 233,872
Total Assets $11,135,641
RANDOLPH COUNTY DEVELOPMENT AUTHORITY
(A STATUTORY CORPORATION)
STATEMENT OF FINANCIAL POSITION – PROPRIETARY FUND
JUNE 30, 2020
LIABILITIES AND NET ASSETS
Current Liabilities
Current portion loans payable $192,356
Current portion deferred revenue 36,000
Deposits 9,250
Accounts Payable 2,002
Payroll Withholdings 138
Total Current Liabilities 239,746
Long term debt, less current portion 6,845,180
Net Position
Net invested in capital assets 2,736,509
Restricted 57,087
Unrestricted 1,257,118
Total Net Position 4,050,714
Total Liabilites and Net Position $11,135,641
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, 2020
Operating Revenues
Tuition $13,614
Rental Income 223,392
Dues 17,023
WTC Projects 21,118
Other 28,242
Total Revenues 303,389
Operating Expenses
Administrative and general expenses 26,624
Contracted services 2,750
Depreciation 74,565
Insurance 24,356
Marketing 6,802
Professional development, travel and meetings 9,117
Professional fees 42,916
Repairs and maintenance 22,024
Salaries and wages 89,634
Shop Expenses 8,903
Utilities 36,162
Total expenses 343,855
Non Operating Revenues (Expenses)
Grant Income 2,761,921
Contribution Income 77,000
Interest Income 9,073
Dividend Income 2,213
Unrealized Gain (Loss) on investments (2,200)
Grant Expense (946,065)
Interest Expense (60,801)
Total other revenues (expenses) 1,841,142
Increase (Decrease) in net position 1,800,676
Net position at beginning of year 2,250,038
Net position at end of year $4,050,714
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