# 2023 & 2022 Audit Report

- Summary: Ebensburg Municipal Authority Financial Statements (2023 & 2022) This document contains the Independent Auditor’s Report and Notes to Financial Statements for the Ebensburg Municipal Authority (the…
- Source: Ebensburg Borough
- Published: 
- Captured: 2026-08-10T16:42:10.366Z
- Source URL: https://ebensburgpa.com/wp-content/uploads/2024/04/Ebensburg-Municipal-Authority-2023-12-31-Financial-Statements.pdf
- Content URL: https://ebensburg.site/document/2023-2022-audit-report/
- Content note: This portable copy is not the official record and may include an automated convenience summary. Verify important details in the original document.

Ebensburg Municipal Authority Financial Statements (2023 & 2022) This document contains the Independent Auditor’s Report and Notes to Financial Statements for the Ebensburg Municipal Authority (the Authority), a component unit of Ebensburg Borough, Pennsylvania. The financial statements cover the years ended December 31, 2023, and 2022. Independent Auditor’s Report Auditor: Wessel & Company, Accountants & Advisors (Johnstown, PA). Opinion: The financial statements present fairly the financial position of the Authority in accordance with accounting principles generally accepted in the United States of America (GAAP). Scope: The audit covered business-type activities and related notes. Key Financial & Operational Details Operating Agreement: In December 2017, the Authority entered a five-year agreement with the Borough of Ebensburg. The Borough manages day-to-day operations of sewer and water systems and employs Borough personnel for routine procedures. Compensation: The Authority compensates the Borough $201,000 annually for administrative management services, payable quarterly. Loan Amendment: In April 2022, the Authority amended its Operating Agreement to increase annual lease payments prior to principal and interest payments on a 2022 PENNVEST water construction loan. As of the report date, this increase had not yet occurred. Debt Service Payments: The Borough remits principal and interest costs to the Authority for all Municipal Authority loans. 2023 Payments: $1,240,919 2022 Payments: $1,167,645 Project Support: The Borough also made payments to support the Waste Water Project and other expenses. 2023 Payments: $26,492 2022 Payments: $161,018 Governance & Legal Matters Board Appointments: Under the Pennsylvania Municipal Authorities’ Act, the Borough appoints all members of the Authority board. However, the Authority retains powers regarding rates, regulations, and major policies. Litigation: The Authority is involved in various disputes and grievances in the normal course of operations. Management believes any outcome would not have a material effect on the Authority’s financial position. Subsequent Events: Events were considered through March 15, 2024. The Authority is not aware of any subsequent events requiring recognition or disclosure in the financial statements.