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PA Bulletin, Doc. No. 96-1825

NOTICES

PORT OF PITTSBURGH COMMISSION

Independent Auditor's Report

[26 Pa.B. 5205]

   We have audited the balance sheet of the Port of Pittsburgh Commission Special Revenue Fund (Commission), a component unit of the Commonwealth of Pennsylvania, as of June 30, 1996 and 1995, and the related statements of revenues, expenditures and changes in fund balance for the years then ended (not presented herein). In our report dated August 23, 1996, we expressed an unqualified opinion on the financial statements.

   As described on the following schedule, this summary financial information of the Commission as of and for the years ended June 30, 1996 and 1995 is not a presentation in conformity with generally accepted accounting principles. In our opinion, however, the accompanying summary financial information is fairly stated, in all material respects, in relation to the statements from which it has been derived.

Port of Pittsburgh Commission
Special Revenue Fund
(A Component Unit of the Commonwealth
of Pennsylvania)

BALANCE SHEETS
June 30, 1996 and 1995

19961995
ASSETS
   Cash and investments$415,913$240,713
   Other assets1,9291,260
      TOTAL ASSETS$417,842$241,973
LIABILITIES AND FUND BALANCE
   Liabilities$  53,347$  31,201
   Fund balance--reserved for economic development364,495210,772
TOTAL LIABILITIES AND FUND BALANCE$417,842$241,973

STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCE
For the Years Ended June 30, 1996 and 1995

19961995
REVENUES AND OTHER FINANCING SOURCES:
   Intergovernmental transfer$600,000$220,000
   Grant revenues60,238--
   Other23,29017,902
683,528237,902
EXPENDITURES 529,805345,197
Excess (deficiency) of revenues over expenditures153,723(107,295)
Fund balance, beginning of year210,772318,067
Fund balance, end of year$364,495$210,772

   The summary financial information shown above differs from generally accepted accounting principles. Differences include: amounts are grouped; captions are summarized; footnote disclosures are omitted.

JAMES R. MCCARVILLE,   
Executive Director

[Pa.B. Doc. No. 96-1825. Filed for public inspection October 25, 1996, 9:00 a.m.]



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