Montana Facility Finance Authority : Financial-Compliance Audit for the Two Fiscal Years Ended 2003

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The notes provide additional information that is essential to a full understanding of the data provided in the basic financial statements. The notes to the financial statements can be found beginning on page A-9 of this report.
Financial Analysis of the Authority Condensed financial statements are presented below.
Total assets Total liabilities Invested in Capital Assets Total unrestricted net assets Increase/ Increase/ 2002 2001 Decrease Decrease 2,254,780 2,168,075 86,705 4.0% 20,414 29,249 (
...8,835) -30.2% 887 1,307 (420) -32.1% 2,233,478 2,137,519 95,959 4.5% Total operating revenues 326,395 417,597 (91,202) -21.8% Operating expenses: Personal services Contracted services Other operating expenses Grants Total operating expenses Operating income Total nonoperating revenues (expenses) Change in net assets 122,676 109,931 12,745 11.6% 30,158 33,793 (3,635) -10.8% 71,221 75,241 (4,020) -5.3% 6,600 6,600 100.0% 230,655 218,965 11,690 5.3% 95,740 198,632 (102,892) "52% (200) (200) -100.0% 95,540 198,632 (103,092) -51.9% Administrative initial fees are charged to borrowers at the completion of a financing.

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