CAFR 2017

coverage by the local sales tax revenue well exceeds the 2.00 times covenant requirement, currently at more than 24 times covered. 6) Parking Facilities Fund Charges for current services totaled $2,399,536 as compared to $2,380,774 in the preceding year, an increase of 0.8%. Operating expenses (excluding depreciation) totaled $2,328,034 as compared to $2,816,037 for the preceding year, a decrease of 17.3%, due to reduced elevator repair costs that were completed in FY 2016, and completion of the Union Square Campus parking lot early in the year. 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

Stormwater Management

Solid Waste Management

2o