Jefferson County Economic Development Annual Report 2017-2018
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>Jefferson</strong> <strong>County</strong> Industrial <strong>Development</strong> Agency<br />
<strong>2017</strong>-<strong>2018</strong> Financial Summary<br />
JEFFERSON COUNTY INDUSTRIAL DEVELOPMENT AGENCY<br />
FINANCIAL SUMMARY<br />
FISCAL YEAR ENDED SEPTEMBER 30, <strong>2018</strong> AND <strong>2017</strong><br />
<strong>2018</strong> <strong>2017</strong><br />
Assets:<br />
Cash $ 5,230,290 $ 4,205,450<br />
Loans receivable - net of allowance 1,031,703 1,635,865<br />
Other receivable 83,144 26,029<br />
Other current assets - 2,006<br />
Fixed assets - net of depreciation 1,624,199 1,733,014<br />
Total $ 7,969,336 $ 7,602,364<br />
Deferred Outflows of Resources: $ 426,385 $<br />
66,542<br />
Liabilities:<br />
Current liabilities $ 82,396 $<br />
39,926<br />
Long-term liabilities 21,771 23,479<br />
Notes payable - long-term portion 180,160 180,160<br />
Total $ 284,327 $ 243,565<br />
Deferred Inflows of Resources: $ 648,159 $ 118,056<br />
Net Position: $ 7,463,235 $ 7,307,285<br />
Summary of Transactions:<br />
Support and Revenue:<br />
Fees $ 454,714 $ 327,490<br />
Community <strong>Development</strong> Agreement 279,427 279,427<br />
Interest 63,379 77,087<br />
Other revenue 662,020 568,833<br />
Total $ 1,459,540 $ 1,252,837<br />
Expenses:<br />
Program expenses $ 208,304 $ 208,344<br />
General and administrative 109,704 113,421<br />
Administrative Service Agreement 569,304 528,000<br />
Bad debt expense/allowance adjustment 298,495 (12,760)<br />
Depreciation 117,783 121,473<br />
Total $ 1,303,590 $ 958,478<br />
Change in Net Position $ 155,950 # $ 294,359<br />
Net Position:<br />
Beginning of Year 7,307,285 7,012,926<br />
End of Year $ 7,463,235 $ 7,307,285<br />
6
Change language