CENTRE COUNTY RECYCLING AND REFUSE AUTHORITY NOTICE OF AUDIT The following are summary statements setting forth the assets and liabilities of the Authority at December 31, 2024 and results of its operations for the year then ended as required by Section 8 of the Pennsylvania Municipal Authorities act of 1945. BALANCE SHEET Assets 2024 Current Assets $ 6,224,913 Property, plant and equipment, net $ 10,135,814 Total Assets $ 16,360,727 Liabilities: Current liabilities $ 1,407,911 Long Term liabilities $ 1,791,480 Equity 13,161,366 $ Total Liabilities & Net Position $ 16,360,727 STATEMENT OF INCOME AND RETAINED EARNINGS Operating revenues: Tipping fees $ 10,456,842 Recycling fees $ 5,505,423 Other $ 319,914 Total operating revenues $ 16,282,179 Operating expenses $ 17,370,249 Operating income $ (1,088,070) Non-operating income (expenses): Operating grants $ 737,428 Other income $ 13,372 Interest income $ 104,197 Bad debt recoveries $ - Interest expense $ (39,447) Total non-operating income $ 815,550 Revenues (Less Than) in excess of expenses $ (272,520) Total Assets, beginning $16,188,953 Total Assets, ending $16,360,727 IPL0244335 Jun 18 2025