LEGAL ADVERTISEMENT
SPORTS & EXHIBITION AUTHORITY OF PITTSBURGH AND ALLEGHENY COUNTY
SUMMARY FINANCIAL INFORMATION DERIVED FROM THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2016
SUMMARY STATEMENT OF NET POSITION
Assets
Current assets $ 77,597,682
Noncurrent assets 989,841,236
Total assets 1,067,438,918
Deferred Outflows of Resources 61,540,451
Liabilities
Liabilities:
Current liabilities 65,775,670
Noncurrent liabilities 687,359,428
Total Liabilities 753,135,098
Net Position:
Net investment in capital assets 308,855,582
Restricted for capital activity and debt service 66,281,146
Unrestricted 707,543
Total net position $ 375,844,271
SUMMARY STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN NET POSITION
Operating revenues $ 25,543,844
Operating expenses 61,588,318
Operating Loss (36,044,474)
Nonoperating revenues, net 26,094,966
Change in Net Position (9,949,508)
Net position, beginning of year 385,793,779
Net position, end of year $ 375,844,271
FICTITIOUS NAME
Tadiso West
Principal Address of Tadiso Incorporated – 1425 Beaver Ave, Pittsburgh, PA 15223
The application for registration of a fictitious name was filed and granted by the Department of State under the Fictitious Name Act.
Restatement of Trust
2008 Restatement of Trust (formerly Revocable) dated September 9, 2008 of Norma Sue Madden, deceased of Pittsburgh, PA, Margaret J. Madden, Successor Trustee under 2008 Restatement of Trust (formerly Revocable) dated September 9, 2008 of Norma Sue Madden, deceased 215 S. Chatsworth St., Apt. 5, St. Paul, MN 55105 or to: Nancy L. Rackoff, Esquire, Eckert Seamans Cherin & Mellott, LLC, U.S. Steel Tower, 600 Grant Street, 44th Floor, Pittsburgh, PA 15219
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