NOTICE OF AUDIT STATE COLLEGE BOROUGH AUTHORITY, CENTRE COUNTY CONCISE FINANCIAL STATEMENTS FOR PUBLICATION December 31, 2024 In accordance with 53 Pa.C.S. Section 5612 of the Municipal Authorities Act 22 of 2001 of the Common- wealth of Pennsylvania, the following concise financial statements present the financial position of State College Borough Authority as of December 31, 2024, and the result of its operations for the year then ended. The complete financial statement of the Authority, together with the independent auditor’s report, is on file and available for inspection at the Authority’s office. Current Assets Total current assets $ 32,679,583 Noncurrent Assets Capital assets, net of accumulated depreciation 100,643,273 Nondepreciable capital assets 2,214,631 Net pension asset 1,863,039 Investments 10,551,056 Restricted investments 5,818,592 Total noncurrent assets 121,090,591 Total assets $ 153,770,174 Deferred Outflows of Resources Total deferred outflow of resources 1,922,813 Total assets and deferred outflows of resources $ 155,692,987 Liabilities Total current liabilities $ 3,016,564 Total noncurrent liabilities 19,737,884 Total liabilities 22,754,448 Deferred Inflows of Resources Total deferred inflows of resources 2,296,273 Net position 130,642,266 Total liabilities and net position $ 155,692,987 Operating Revenues Total operating revenues $ 13,487,900 Total operating expenses (8,447,093) Operating income 5,040,807 Nonoperating Revenues (Expenses) New connection fees 577,963 Interest expense (275,056) Investment loss 1,719,425 Gain on sale of fixed assets 56,795 Total nonoperating revenues, net 2,079,127 Change in net position 7 ,119,934 Net Position - Beginning 123,522,332 Net Position - Ending $ 130,642,266