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8.B. - Page 24
<br /> Historical Revenues and Expenses
<br /> The following table shows a three-year history of revenues, expenses, and net revenues
<br /> based on information provided in the City's audited financial statements and by the City.
<br /> Table A9
<br /> Sewer Enterprise - Historical Revenues, Operating Expenses, and Net Revenues
<br /> Fiscal Year Ended June 30
<br /> Fiscal Year Ending June 30 2012 2013 2014 2015
<br /> (audited) (audited) (audited) (unaudited)
<br /> Adopted Rate Increase (rounded) 9% 9% 9% 9%
<br /> REVENUES
<br /> Sewer Service Charges $25,108,273 $27,627,000 $29,095,415 $32,562,304
<br /> Investment Earnings & Other Revenues 23,750 14,735 127,201 177,602
<br /> Total Revenues $25,132,023 $27,641,735 $29,222,616 $32,739,906
<br /> EXPENSES
<br /> Operating & Maintenance
<br /> Operating Expenses from Audit $20,017,426 $19,287,430 $19,989,758 $22,452,548
<br /> Less Depreciation (544,154) (525,718) (523,563) (581,078)
<br /> Less SVCW Bond Debt Service (2,598,198) (2,598,152) (2,869,674) (5,190,743)
<br /> Less SVCW Non-Operating Payments (781,863) (753,070) (974,433)
<br /> Net Operating Expenses $16,093,211 $15,410,490 $15,622,088 $16,680,727
<br /> Net Revenues $9,038,812 $12,231,245 $13,600,528 $16,059,179
<br /> Debt Service
<br /> City Share of SVCW 2008 Bonds $450,284 $452,043 $360,802 (1) $450,194
<br /> City Share of SVCW 2009 Bonds 2,147,914 2,146,109 2,110,594 2,552,049
<br /> City Share of SVCW 2014 Bonds -- -- -- 1,790,222
<br /> City Share of SVCW SRF Loan -- -- 398,278 398,278
<br /> Total Debt Service $2,598,198 $2,598,152 $2,869,674 $5,190,743
<br /> Debt Service Coverage 3.48 4.71 4.74 3.09
<br /> Net Revenues Remaining After Debt
<br /> Service $6,440,614 $9,633,093 $10,730,854 $10,868,436
<br /> Available Reserves June 30(2) 10,122,484 16,479,105 22,124,504 29,891,263
<br /> Days Operating Cash June 30(2) 230 390 517 654
<br /> (1) Net of reserve and interest credits received by the City.
<br /> (2) Includes working capital.
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