RANDOLPH COUNTY DEVELOPMENT AUTHORITY
(A STATUTORY CORPORATION)
STATEMENT OF FINANCIAL POSITION – PROPRIETARY FUND
JUNE 30, 2023

ASSETS

Current Assets
Cash and cash equivalents $ 2,769,067
Accounts Receivable, net 84,061

Total Current Assets 2,853,127

Real Estate, property, and equipment,
less accumulated depreciation 3,540,474
Restricted Land 51,517

Total Fixed Assets 3,591,991

Other Assets
Investments 275,437
Restricted Asset 5,570

Total Other Assets 281,007

Total Assets $ 6,726,125

LIABILITIES AND NET ASSETS
Current Liabilities
Accounts Payable $ 320,845
Payroll Withholdings 2,298

Total Current Liabilities 323,143

Long term debt 346,500

Net Position
Net invested in capital assets 3,540,474
Restricted 57,087
Unrestricted 348,864

Total Net Position 2,458,922

Total Net Position $ 6,056,483

Total Liabilities and Net Position 6,726,125

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, 2024

Operating Revenues
Tuition $ 295,042
Rental Income 95,926
Dues 21,060
WTC Projects 41,183
Other 90,363
Total Revenues 543,575

Operating Expenses
Administrative and general expenses 41,517
Contracted services 6,280
Depreciation 114,106
Insurance 25,968
Marketing 10,837
Professional development, travel and meetings 9,443
Professional fees 11,461
Repairs and maintenance 34,237
Salaries and wages 209,237
Shop Expenses 139,627
Utilities 42,627
Total expenses 645,568

Non Operating Revenues (Expenses)
Grant Income 502,175
Contribution Income Restricted 200,000
Contribution Income 78,500
Proceeds from sale/property transfer 32,707
Interest Income 105,311
Dividend Income 3,221
Unrealized Gain (Loss) on investments 5,321
Interest Expense (7,401)
Grant Expense (510,582)
Total other revenues (expenses) 409,252

Increase (Decrease) in net position 307,258

Net position at beginning of year 5,749,224

Net position at end of year $ 6,056,483
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