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2o
outstanding associated with the transfer station is $2,930,000 as of June 30, 2016. Debt service
coverage by the local sales tax revenue well exceeds the 2.00 times covenant requirement,
currently at more than 22 times covered.
6)
Parking Facilities Fund
Charges for current services totaled $2,380,774 as compared to $2,010,212 in the preceding year,
an increase of 18.4%. Operating expenses (excluding depreciation) totaled $2,816,037 as
compared to $1,751,555 for the preceding year, an increase of 60.8%, due to major elevator
repairs, and temporary parking lot rental for the Union Square Campus. General Fund suspended
support of this operation in FY 2010 following final maturity of all parking deck debt recorded in
the Fund. In FY 2011 and forward, a portion of the profits from this operation are scheduled to
be returned to the General Fund, however, no transfers were made in the current year due to the
capital improvements made to parking facilities this year.
FIGURE 3
Expenses and Program Revenues – Business-Type
(In thousands of dollars)
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
Water
Sewer
Stormwate r Management
War Memorial Coliseum
Solid Waste Management
Parking Facilities
Expenses
Revenues