RANDOLPH COUNTY DEVELOPMENT AUTHORITY
(A STATUTORY CORPORATION)
STATEMENT OF FINANCIAL POSITION – PROPRIETARY FUND
JUNE 30, 2021
ASSETS
Current Assets
Cash and cash equivalents $544,114
Accounts Receivable, net 25,124
Accrued fees receivable 36,000
Current portion lease receivable 326,836
Current portion loans receivable 25,000
Total Current Assets 957,074
Real Estate, property, and equipment,
less accumulated depreciation 2,777,028
Restricted Land 51,517
Total Fixed Assets 2,828,545
Long Term Receivables, less current portion 6,802,265
Other Assets
Investments 250,652
Restricted Asset 5,570
Total Other Assets 256,222
Total Assets $10,844,105
RANDOLPH COUNTY DEVELOPMENT AUTHORITY
(A STATUTORY CORPORATION)
STATEMENT OF FINANCIAL POSITION – PROPRIETARY FUND
JUNE 30, 2021
LIABILITIES AND NET ASSETS
Current Liabilities
Current portion loans payable $197,821
Current portion deferred revenue 36,000
Current portion lease payable 10
Deposits 11,250
Accounts Payable 15,416
Payroll Withholdings 153
Total Current Liabilities 260,641
Long term debt, less current portion 6,492,921
Net Position
Net invested in capital assets 2,777,028
Restricted 57,087
Unrestricted 1,256,427
Total Net Position 4,090,542
Total Liabilites and Net Position $10,844,105
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, 2021
Operating Revenues
Tuition $67,833
Rental Income 207,397
Dues 21,176
WTC Projects 34,566
Other 59,415
Total Revenues 390,387
Operating Expenses
Administrative and general expenses 30,504
Contracted services 5,680
Depreciation 83,470
Insurance 26,319
Marketing 66,694
Professional development, travel and meetings 2,302
Professional fees 102,120
Repairs and maintenance 22,111
Salaries and wages 89,234
Shop Expenses 41,136
Utilities 33,152
Total expenses 502,721
Non Operating Revenues (Expenses)
Grant Income 198,340
Contribution Income 91,000
Interest Income 7,650
Dividend Income 2,231
Unrealized Gain (Loss) on investments 17,174
Grant Expense (164,233)
Total other revenues (expenses) 152,162
Increase (Decrease) in net position 39,828
Net position at beginning of year 4,050,714
Net position at end of year $4,090,542
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