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7.1.F. - Page 27
<br /> Table A9
<br /> Redwood City - Historical Revenues, Operating Expenses, and Net Revenues
<br /> Year Ending June 30 2010-11 2011-12 2012-13
<br /> Beginning Fund Reserves $6,493,152 $6,061,466 $10,122,484
<br /> REVENUES
<br /> Sewer Service Charges:
<br /> Redwood City 18,129,941 20,017,454 21,901,987
<br /> Contract Agencies 3,491,080 4,798,145 4,599,202
<br /> Interest Income 30,311 23,750 14,735
<br /> Facilities &connection fees 178,226 190,581 1,057,492
<br /> Other 80,397 102,091 68,318
<br /> Total Revenues 21,909,955 25,132,020 27,641,733
<br /> EXPENSES
<br /> Operating &Maintenance:
<br /> Salaries& benefits 2,137,222 2,076,722 1,882,876
<br /> Supplies &services 1,927,521 1,649,804 1,734,712
<br /> Internal services & revenue svcs. 3,365,249 3,405,295 3,156,628
<br /> SVCW operating payments* 8,162,055 9,378,389 8,636,274
<br /> Subtotal 15,592,046 16,510,210 15,410,489
<br /> Debt Service:
<br /> 2008 SVCW bond debt svc allocation 453,087 450,284 452,043
<br /> 2009 SVCW bond debt svc allocation 2,018,280 1,730,918 2,146,109
<br /> Subtotal 2,471,367 2,181,202 2,598,152
<br /> Other Non-Operating (Income) Expenses:
<br /> City capital funding, cash 2,867,782 1,612,175 2,547,770
<br /> SVCW capital & reserve payments 1,349,207 781,863 753,070
<br /> Interfund loan repayment -- --
<br /> Transfer In (31,323)
<br /> OPEB Obligation (1,553) (1,653) (1,553)
<br /> Accrued vacation &sick leave 8,508 (12,795) 8,508
<br /> Other non-operating/contingency 54,364 -- --
<br /> Subtotal 4,278,228 2,379,590 3,276,472
<br /> Total Expenses 22,341,642 21,071,002 21,285,113
<br /> Revenues less Expenses (431,687) 4,061,019 6,356,620
<br /> Ending Fund Reserves 6,061,466 10,122,484 16,479,105
<br /> Net Revenues 6,317,909 8,621,810 12,231,244
<br /> Debt Service Coverage 2.56 3.95 4.71
<br /> Debt Service Coverage with Reserves 5.18 6.73 8.60
<br /> *Includes payments to SVCW for operating and maintenance expenses and excludes SVCW capital contributions.
<br /> Source: Redwood City Audited Financial Statements (fiscal year ending June 30, 2011, June 30, 2012 and June 30,
<br /> 2013).
<br /> A-19
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