INDEPENDENT AUDITOR’S REPORT
STADIUM AUTHORITY OF THE CITY OF PITTSBURGH
Statement of Net Position
March 31, 2017
Assets
Cash and cash equivalents $ 1,957,356
Capital assets, net of accumulated depreciation 49,681,941
Restricted assets 7,724,039
Other assets 1,831,434
Total assets $ 61,194,769
Liabilities and Net Position
Liabilities $ 54,889,561
Net position:
Investment in capital assets, net of related debt 15,134,168
Restricted for capital activity and debt service 11,978,739
Unrestricted (20,807,699)
Total net position 6,305,208
Total Liabilities and net position $ 61,194,769
Statement of Revenues, Expenses and Changes in Net Postion
For the Year Ended March 31, 2017
Revenues:
Parking $ 7,552,730
Interest 38,506
Total revenues 7,591,236
Expenses:
Salary reimbursement 47,566
Administrative 111,769
Operations and development 2,421.076
Insurance 40,274
Interest 587,802
Amortization and depreciation 861,116
Total expenses 4,069,603
Excess of revenues over expenses $ 3,521,633
Non-Operating Revenue (Expenses):
Capital transferred (to) from the Sports and Exhibition Authority 15,605
Development Funds (240,267)
Total Non-Operating Revenues (Expenses), net (224,662)
Change in New Position, March 31, 2017 3,296,971
New Position Beginning of year 3,008,235
Net Position End of Year $ 6,305,206
Audit completed by Cameron Professional Services August 2, 1017
Letters of Administration on the Estate of DENNIS B. ERIN, Court Term No. 021704578, late of Ross Township, Allegheny County, deceased, having been granted to the undersigned by the Director of Dept. of Court Records, Wills/Orphans Court Division of Allegheny County, notice is hereby given to all persons indebted to said estate to make immediate payment, and to those having claims against the same to present them to the undersigned, duly authenticated for settlement. Lawrence Erin, Administrator, 104 Kelly Court, Monroeville, PA 15146 or to Cathy L. Brannigan, Esq., 15 Duff Rd., Suite 6C, Pittsburgh, PA 15235
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