MANAGEMENT’S DISCUSSION AND ANALYSIS Financial Statements Net Position: The following table reflects the overall financial condition of the Authority as of the last three fiscal years ended June 30, 2019, 2018 and 2017, respectively. 2019 Current assets Capital assets Other long-term assets Total Assets Deferred Outflow of Resources Current liabilities Other noncurrent liabilities Total Liabilities Deferred Inflow of Resources Net investment in capital assets Total Net Position Unrestricted $ $ 490,727 1,310,360 31,244 1,832,331 29,728 71,619 89,652 161,271 4,622 1,310,360 385,806 1,696,166 $ $ 2018 429,292 1,141,563 27,169 1,598,024 31,746 49,509 74,772 124,281 6,653 1,141,563 357,273 1,498,836 $ $ 2017 270,395 1,094,902 104,257 1,469,554 52,202 57,353 92,617 149,970 3,887 1,068,045 299,854 1,367,899 The Authority’s total current assets increased by $61,435 and $158,897 during fiscal years 2019 and 2018, respectively. Elements to consider related to these changes include: Cash and cash equivalents increased from $365,038 to $400,706 in fiscal year 2019 and increased from $214,443 to $365,038 in fiscal year 2018, thus resulting in a total increase of $186,263 over the two years. Accounts receivable – trade increased by $5,664 and by $7,702 in fiscal years 2019 and 2018 respectively. The increase from fiscal year 2017 was due to increased business activity. Accounts receivable – non-trade increased by $6,997 and by $1,229 in fiscal years 2019 and 2018 respectively. The net increase from fiscal year 2017 was due to federal grants activity. 6
