COG Comprehensive Annual Financial Report

Table XVI Page 1 of 2

Pledged Revenue Coverage Fiscal Years Ended June 30, 2009-2018

Water Resources Enterprise Fund (a) Net Available

Fiscal Year Ended June 30

Less Operating Expenses(d)

Gross Revenues(c)

Debt Service Expenditures (e)

Coverage (f)

Revenue

Principal

Interest

Total

2009

$ 85,134,662

$ 47,546,036

$ 37,588,626

$ 8,015,000 $

8,811,277 $

16,826,277

2.23

2010

86,650,483

48,248,298

38,402,185

8,470,000

7,969,938

16,439,938

2.34

2011

91,649,195

51,317,135

40,332,060

9,960,000

9,674,910

19,634,910

2.05

2012

89,165,280

52,808,830

36,356,450

8,825,000

8,797,162

17,622,162

2.06

2013

90,137,572

53,436,646

36,700,926

9,400,000

8,256,635

17,656,635

2.08

2014

94,065,880

52,225,483

41,840,397

8,225,000

7,697,524

15,922,524

2.63

2015

100,831,399

54,576,115

46,255,284

10,390,000

7,364,313

17,754,313

2.61

2016

107,510,348

59,641,631

47,868,717

12,470,000

7,411,881

19,881,881

2.41

2017

113,528,568

60,151,659

53,376,909

13,640,000

7,913,609

21,553,609

2.48

2018

118,696,607

65,966,936

52,729,671

14,295,000

9,160,931

23,455,931

2.25

(a) The City issued Water and Sewer Revenue bonds in the amount of : $50,000,000 dated June 1995 (refunded in 2001 and 2005) $40,000,000 dated June 1998 (partially refunded in 2006 and 2009)

$45,740,000 dated June 2001 (partially refunded in 2006) $43,435,000 dated July 2003 (partially refunded in 2006) $40,780,000 dated June 2005 (partially refunded in 2012) $48,040,000 dated June 2007 (partially refunded in 2015) $53,180,000 dated April 2009 (partially refunded in 2018)

$29,310,000 dated February 2016 $64,700,000 dated August 2017 Portions of the 1998, 2001, 2003, 2005, 2007 and 2009 variable rate issues were refunded in August 2014.

(b) The City issued Landfill Special Obligation Bonds in the amount of $16,000,000 dated May 1997 and $8,400,000 dated November 2005. The 1997 bonds are matured.

(c) Gross revenues are for the combined Water Resources Enterprise Fund for the fiscal year.

(d) Operating expenses exclude depreciation and bond interest.

(e) Includes principal and interest of revenue bonds only.

(f) The most restrictive required coverage is 1.50.

(g) As defined in Articles 40 and 42 of the Sales Tax Act.

(h) The required coverage is 2.00.

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