CAFR 2016

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)

$60,000

Expenses

$50,000

Revenues

$40,000

$30,000

$20,000

$10,000

$0

Water

Sewer

Parking Facilities

War Memorial Coliseum

Stormwate r Management

Solid Waste Management

2o