MT JEWETT BOROUGH

McKean County, Pennsylvania

Concise Financial Statements for Publication

Prepared on a Cash Basis

Concise Balance Sheet- Combined Funds

December 31, 2024

Assets

Cash and Investments $ 1,885,148

Accounts Receivable 45,204

Other Current Assets 11,813

Capital Assets, Net of Depreciation 1,294,247

Total Assets $ 3,236,412

Liabilities and Fund Balance

Payroll Liabilities $ 584

Other Current Liabilities 3,985

Fund Balance 3,231,843

Total Liabilities and Fund Balance $ 3,236,412

Concise Statement of Revenues Received and

Expenditures paid Combined Funds

Year Ended December 31, 2024

Revenues

Taxes $ 277,717

Licenses and Permits 11,252

Fines and Forfeits 1,348

Interest Rents and Royalties 127,653

Intergovernmental Revenues 110,686

Charges for Services 232,588

Other Operating Revenues $6,363

Other Financing Sources $1,839,098

Total Revenues 2,606,356

Expenditures

General Government 76,486

Public Safety 24,784

Health and Human Services –

Public Works

-Sanitation

-Highway and Streets 189,803

-Other –

Cultural Recreation 70,749

Community Development –

Debt Service 9,059

Benefits and Payroll Taxes 68,310

Insurance 9,753

Other Operating Expenditures 18,091

Other Financing Uses 111,776

Total Expenditures $ 726,337

Excess (Deficit) of

Revenues over Expenditures 1,880,019

Barbara Harp, Borough Manager