Dulles Corridor Enterprise January 2017 Financial Report UNAUDITED COPY
|
|
- Charlene Kelly
- 5 years ago
- Views:
Transcription
1 Dulles Corridor Enterprise January 2017 Financial Report Prepared by the Office of Finance February 2017
2 Toll Road Revenue Dulles Corridor Enterprise January 2017 Financial Report $12.0 million year-to-date Revenue 14.1% higher than prior year-to-date At 8.3% through the year, revenues are at 7.8% of annual budgeted revenues Revenues are 9.3% higher than forecast $14,000,000 $13,000,000 $12,000,000 $11,000,000 $10,000,000 $9,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,
3 Dulles Corridor Enterprise January 2017 Financial Report Toll Road Transactions 7.7 million year-to-date transactions Transactions 13.5% higher than prior year-to-date Transactions 7.9% higher than forecast year-to-date Electronic toll collections up 1% at 88.6% (1) (1) Electronic Tolls percentage is a percentage of total revenue 9,000,000 8,500,000 8,000,000 7,500,000 7,000,000 6,500,000 6,000,000 5,500,000 5,000,
4 Dulles Corridor Enterprise January 2017 Financial Report Toll Road Expenditures $2.6 million year-to-date Expenditures 25.5% lower than prior year-to-date At 8.3% through the year, expenditures are at 8.7% of annual budgeted expenditures Expenses are 4.7% lower than forecast
5
6 METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES CORRIDOR ENTERPRISE FUND FINANCIAL REPORT JANUARY 2017 Table of Contents Page Highlights Dulles Corridor Enterprise Highlights...1 DCE Analysis of Financial Indicators...2 Statement of Net Position Dulles Corridor Enterprise Comparative Income Statement...5 Income Statements by Programs Dulles Corridor Enterprise Income Statement: Year-to-Date..6 Operations and Maintenance Program DCE O&M Month/Year/Budget...7 DCE O&M Comparative Income Statement Toll Road Comparative Analysis of Revenues & Expenses Toll Road Comparative Analysis Month...9 Toll Road Comparative Analysis Year Actual versus Budget Summary Toll Road Revenues Actual vs. Budget Summary...11 Toll Road Expenses Actual vs. Budget Summary...12 Debt Service Coverage Ratio Dulles Corridor Enterprise Debt Service Coverage...13 Toll Road Charts Dulles Corridor Enterprise Toll Road Transactions & Graph...14 Dulles Corridor Enterprise Toll Road Revenues & Graph...15
7 Metropolitan Washington Airports Authority Financial Statements January 2017 Dulles Corridor Enterprise Fund Highlights in Brief The increase in net position (i.e. net income) for the Dulles Corridor Enterprise Fund in January 2017 was $9.0 million. January 2017 operations of the Dulles Toll Road resulted in total revenues of $12.0 million, of which $1.4 million was in cash toll collections, and $10.3 million (85.7%) was in AVI toll collections. Total revenues decreased by $0.2 million (1.6%) compared to December As compared to January 2016, revenues increased by $1.5 million (14.1%). January 2017 operating expenses for the Dulles Toll Road operations were $2.7 million. This is an increase from December 2016 by $0.1 million primarily due to increases in services, telecommunication expenses, and depreciation and amortization, offset by decreases in salaries and related benefits and ETC transaction fees. Operating income for the Dulles Toll Road for January 2017 was $9.4 million compared to operating income of $9.7 million for December As compared to January 2016, operating income was higher by $2.4 million. One month into the year, or 8.3% through the year, the Toll Road operation has earned 7.8% of budgeted annual revenues and expended 8.7% of budgeted annual expenses. The Dulles Corridor Enterprise Capital Improvement Program (CIP) had $1.1 million in operating expenses for January Operating expenses for the Dulles Corridor Enterprise CIP consist primarily of allocated overhead expenses, bond cost of issuance expense, audit related expenses, and depreciation. Federal grant revenue of $0.7 million and Local contributions of $9.3 million was recognized for the Rail project in January Additional Federal grant revenue of $1.1 million was recorded in January 2017 relating to the Build America Bond interest subsidy. The Rail project recorded $1.1 million in construction in progress for Phase 1 and $22.0 million for Phase 2 in January
8 Actuals Current Year- to- Date Financial Indicators (Preliminary) Dulles Corridor Enterprise Fund Period Ended January 31, 2017 Prior Year-to- Date Actuals versus Budget Percent Change PY to CY Pro-Rated Budget Percent Change CY to Budget Seasonalized Budget Percent Change CY to Seasonalized Budget Actual YTD Compared to Prior YTD Actual YTD Compared to Budget Actual YTD Compared to Seasonalized Budget Tolls - Cash $ 1,368,724 $ 1,309, % $ 1,546,720 (11.5%) $ 1,320, % Tolls - AVI (Electronic Tolls) 10,660,431 9,234, % 11,342,613 (6.0%) 9,684, % Total Revenue $ 12,029,155 $ 10,543, % $ 12,889,333 (6.7%) $ 11,005, % Personnel Compensation $ 471,670 $ 444, % $ 444, % $ 456, % Employee Benefits 164, , % 159, % 158, % Services 1,892,683 2,702,513 (30.0%) 1,778, % 1,958,885 (3.4%) Supplies and Materials 14, ,966 (92.3%) 54,095 (73.7%) 109,762 (87.0%) Lease and Rental Expenses - 56 (100.0%) 13 (100.0%) 13 (100.0%) Utilities 18,805 17, % 19,323 (2.7%) 19,323 (2.7%) Telecommunications 8,506 11,866 (28.3%) 13,168 (35.4%) 13,168 (35.4%) Travel 2,355 2, % 2, % 2, % Insurance 62,450 23, % 46, % 46, % Non-capital Equipment (Gains) - (4) 100.0% - N/A - N/A N/A N/A Total Expenses before Depreciation & Non-Toll Road Expenses $ 2,635,585 $ 3,537,343 (25.5%) $ 2,518, % $ 2,764,750 (4.7%) Operating Income (Loss) before Depreciation & Non-Toll Road Expenses $ 9,393,570 $ 7,006, % $ 10,371,032 (9.4%) $ 8,240, % Depreciation and Amortization 666, , % N/A N/A N/A N/A Other Non-Toll Road Expenditures 518, ,314 (21.7%) N/A N/A N/A N/A Total Expenses $ 3,820,680 $ 4,779,106 (20.1%) N/A N/A N/A N/A Operating Income (Loss) $ 8,208,475 $ 5,764, % N/A N/A N/A N/A # Toll Transactions - year-to-date # Toll Transactions - current month Electronic Tolls - year-to-date percent (1) Federal Grant Revenue - year-to-date State/Local Grant Revenue - year-to-date Local/MWAA Contribution to Rail Project (Phase 1&2) - year-to-date Additional Dulles Corridor Enterprise Fund Information: Percent Change CY to Seasonalized Budget Actual YTD Compared to Seasonalized Budget Percent Percent Actual YTD Actual YTD Change Pro-Rated Change CY Seasonalized Compared to Compared to PY to CY Budget to Budget Budget Prior YTD Budget 7,720,943 6,801, % 8,352,167 (7.6%) 7,155, % 7,720,943 6,801, % 8,352,167 (7.6%) 7,155, % 88.6% 87.6% 1.0% N/A N/A N/A N/A N/A N/A $ 1,794,529 $ 3,031,443 (40.8%) N/A N/A N/A N/A N/A N/A $ - $ - N/A N/A N/A N/A N/A N/A N/A N/A $ 9,304,716 $ 9,046, % N/A N/A N/A N/A N/A N/A Transfer of Rail Project Phase 1 to WMATA - year-to-date $ - $ - N/A N/A N/A N/A N/A N/A N/A N/A Capital Equipment - year-to-date $ - $ - N/A $ 9,167 (100.0%) $ 9,167 (100.0%) N/A (1) Electronic Tolls percentage is a percentage of total revenue 2
9 Currency: USD Fund=02 (Dulles Corridor Enterprise Fund) MWAA Corporate Ledger Date: 09 FEB 17 19:32:22 Statement of Net Position Dulles Corridor Enterprise Page: 1 Current Period: Jan 17 As of Jan 17 As of Adj1 16 ASSETS Current Assets Unrestricted cash and cash equivalents $ 237,569,346 $ 234,632,901 Restricted cash and cash equivalents 172,354, ,885,679 Accounts receivable, net 600, ,573 Investments Inventory 387, ,850 Prepaid expenses and other current assets 276, ,468 Total Current Assets 411,188, ,734,472 Non Current Assets Restricted Assets Cash and cash equivalents 207, ,816,844 Receivables 168,283, ,842,121 Investments 537,203, ,070,733 Total Restricted Assets 705,694, ,729,699 Unrestricted Assets Investments Bond Issuance Costs 14,381,161 14,493,216 Other Assets 38,183 38,183 Total Unrestricted 14,419,345 14,531,400 Capital Assets Construction in progress 20,837,828 20,664,496 Construction in Progress, Metrorail Phase 1 1,100,815 Construction in Progress, Metrorail Phase 2 1,185,127,098 1,163,079,627 Building, systems and equipment 118,832, ,832,856 Less: accumulated depreciation (21,149,709) (20,627,316) Capital Assets, Net 1,304,748,888 1,281,949,663 Total Non Current Assets 2,024,863,062 2,035,210,762 Total Assets $ 2,436,051,613 $ 2,424,945,234 =============== =============== DEFERRED OUTFLOWS OF RESOURCES Deferred outflows pension plans $ 959,768 $ 959,768 Total Deferred Outflows of Resources $ 959,768 $ 959,768 =============== =============== 3
10 Currency: USD Fund=02 (Dulles Corridor Enterprise Fund) MWAA Corporate Ledger Date: 09 FEB 17 19:32:22 Statement of Net Position Dulles Corridor Enterprise Page: 2 Current Period: Jan 17 As of Jan 17 As of Adj1 16 LIABILITIES Current Liabilities Accounts payable and accrued expenses $ 142,434,337 $ 132,232,280 Advance billings and payments received in advance 66,122,979 66,122,979 Due to (due from) other funds (37,718,019) (36,482,073) Accrued interest payable 30,137,965 22,583,413 Current portion of long term liabilities 4,032,707 4,032,707 Total Current Liabilities 205,009, ,489,307 Non Current Liabilities Other liabilities 250,056, ,056,579 Net pension liability 413, ,032 Commercial paper notes 130,000, ,000,000 Notes payable 0 0 Accretted debt 305,394, ,418,663 TIFIA Payable 525,241, ,484,374 Bonds payable 1,695,271,028 1,695,432,521 Total Non Current Liabilities 2,906,376,848 2,920,805,170 Total Liabilities $ 3,111,386,816 $ 3,109,294,476 =============== =============== DEFERRED INFLOWS OF RESOURCES Deferred inflows pension plans $ (952,389) $ (952,389) Total Deferred Inflows of Resources $ (952,389) $ (952,389) =============== =============== NET POSITION Net Investment in Capital Assets $(1,013,873,292) $(1,018,211,718) Restricted for: Construction 337,157, ,159,142 Debt service 11,476,600 14,815,051 Dulles Rail latent defects 15,012,961 15,012,821 Dulles Toll Road repairs 8,391,222 8,333,512 Unrestricted (31,588,032) (33,545,893) Total Net Position $ (673,423,046) $ (682,437,086) =============== =============== 4
11 Currency: USD Fund=02 (Dulles Corridor Enterprise Fund) MWAA Corporate Ledger Date: 09 FEB 17 19:36:20 Dulles Corridor Enterprise Fund Comparative Income Statement Page: 1 Current Period: Jan 17 Current Month Prior Month Variance Current Month Variance Year to Date Year to Date Variance Prior Year Prior Year OPERATING REVENUES Tolls cash $ 1,368,724 $ 1,527,289 $ (158,565) $ 1,309,304 $ 59,420 $ 1,368,724 $ 1,309,304 $ 59,420 Tolls AVI 10,305,317 10,401,977 (96,660) 8,954,355 1,350,962 10,305,317 8,954,355 1,350,962 Tolls violations 355, ,148 58, ,856 75, , ,856 75,257 Total operating revenues 12,029,155 12,225,413 (196,259) 10,543,515 1,485,639 12,029,155 10,543,515 1,485,639 OPERATING EXPENSES Salaries and related benefits 876,789 1,082,900 (206,111) 850,274 26, , ,274 26,515 Services 1,163, , ,154 2,301,506 (1,138,411) 1,163,095 2,301,506 (1,138,411) ETC transaction fees 977,918 1,029,366 (51,448) 677, , , , ,252 Materials and supplies 22,558 30,583 (8,026) 190,726 (168,168) 22, ,726 (168,168) Lease and rental expenses (699) (65) 65 (65) Utilities 22,031 (55,369) 77,401 29,194 (7,163) 22,031 29,194 (7,163) Telecommunication 22,571 (10,084) 32,655 23,467 (896) 22,571 23,467 (896) Travel 3,890 6,747 (2,858) 3, ,890 3, Insurance 62,450 44,653 17,798 23,119 39,332 62,450 23,119 39,332 Project expenses 3, ,621 (140,560) 100,230 (97,170) 3, ,230 (97,170) Non cash expenses (gains) (38) 38 (8) 8 (8) 8 Depreciation and amortization 666, , , ,449 86, , ,449 86,869 Total operating expenses 3,820,680 3,237, ,710 4,779,106 (958,426) 3,820,680 4,779,106 (958,426) OPERATING INCOME 8,208,475 8,987,443 (778,968) 5,764,409 2,444,065 8,208,475 5,764,409 2,444,065 NON OPERATING REVENUES (EXPENSES) Unrealized investment gains (losses) 205,424 (312,351) 517,775 1,480,071 (1,274,647) 205,424 1,480,071 (1,274,647) Realized investment gains (losses) 447, ,420 53,464 1,832,539 (1,384,655) 447,884 1,832,539 (1,384,655) Interest expense (10,946,988) (10,644,550) (302,438) (10,464,726) (482,262) (10,946,988) (10,464,726) (482,262) Contributions from/(to) other governments 9,304,716 11,578,958 (2,274,242) 9,046, ,400 9,304,716 9,046, ,400 Total non operating revenues (expenses) (988,965) 1,016,476 (2,005,440) 1,894,200 (2,883,165) (988,965) 1,894,200 (2,883,165) GAIN (LOSS) BEFORE CAPITAL CONTRIBUTIONS 7,219,510 10,003,919 (2,784,409) 7,658,609 (439,099) 7,219,510 7,658,609 (439,099) CAPITAL CONTRIBUTIONS Federal grants 1,794,529 5,332,877 (3,538,348) 3,031,443 (1,236,913) 1,794,529 3,031,443 (1,236,913) State grants Local grants Total capital contributions 1,794,529 5,332,877 (3,538,348) 3,031,443 (1,236,913) 1,794,529 3,031,443 (1,236,913) INCREASE (DECREASE) IN NET POSITION $ 9,014,039 $ 15,336,796 $ (6,322,756) $ 10,690,052 $ (1,676,013) $ 9,014,039 $ 10,690,052 $ (1,676,013) =============== ============================== =============== =============== =============== =============== =============== 5
12 Currency: USD No specific Ledger requested MWAA Corporate Ledger Date: 09 FEB 17 19:42:47 Dulles Corridor Enterprise by Programs Page: 1 Current Period: Jan 17 O&M R&R CIP Total YTD Jan 17 YTD Jan 17 YTD Jan 17 YTD Jan 17 OPERATING REVENUES Tolls cash $ 1,368,724 $ 1,368,724 Tolls AVI 10,305,317 10,305,317 Tolls violations 355, ,114 Total operating revenues 12,029,155 12,029,155 OPERATING EXPENSES Salaries and related benefits 636, , ,789 Services 914, ,330 1,163,095 ETC transaction fees 977, ,918 Materials and supplies 14,221 8,337 22,558 Lease and rental expenses Utilities 18,805 3,226 22,031 Telecommunication 8,506 14,065 22,571 Travel 2,355 1,535 3,890 Insurance 62,450 62,450 Project expenses 3,060 3,060 Non cash expenses (gains) Depreciation and amortization 27,521 13, , ,317 Total operating expenses 2,663,107 13,879 1,143,694 3,820,680 OPERATING INCOME 9,366,047 (13,879) (1,143,694) 8,208,475 NON OPERATING REVENUES (EXPENSES) Unrealized investment gains (losses) 205, ,424 Realized investment gains (losses) 39, , ,884 Interest expense (13) (10,946,975) (10,946,988) Contributions from/(to) other governments 9,304,716 9,304,716 Total non operating revenues (expenses) 39,344 (1,028,309) (988,965) GAIN (LOSS) BEFORE CAPITAL CONTRIBUTIONS 9,405,391 (13,879) (2,172,002) 7,219,510 CAPITAL CONTRIBUTIONS Federal grants 1,794,529 1,794,529 State grants Local grants Total capital contributions 1,794,529 1,794,529 INCREASE (DECREASE) IN NET POSITION $ 9,405,391 $ (13,879) $ (377,473) $ 9,014,039 =============== =============== =============== =============== 6
13 Currency: USD Fund=70 (O&M Dulles Corridor Enterprise Operations and Maintenance Program) MWAA Corporate Ledger Date: 09 FEB 17 19:45:28 Fund 70 MTD / YTD / Comparison to Budget Page: 1 Current Period: Jan 17 Annual Budget MTD Actual MTD Budget MTD Variance YTD Actual YTD Budget YTD Variance Annual Budget Remaining OPERATING REVENUES Tolls cash $ 1,368,724 $ 1,320,600 $ 48,124 $ 1,368,724 $ 1,320,600 $ 48,124 $ 18,560,640 $ 17,191,916 Tolls AVI 10,305,317 9,684, ,917 10,305,317 9,684, , ,111, ,806,043 Tolls violations 355, , , ,114 0 (355,114) Total operating revenues 12,029,155 11,005,000 1,024,155 12,029,155 11,005,000 1,024, ,672, ,642,845 OPERATING EXPENSES Salaries and related benefits 636, ,843 21, , ,843 21,722 7,247,916 6,611,351 Services 914,765 1,106,988 (192,223) 914,765 1,106,988 (192,223) 11,124,673 10,209,908 ETC transaction fees 977, , , , , ,021 10,222,767 9,244,849 Materials and supplies 14, ,762 (95,541) 14, ,762 (95,541) 649, ,920 Lease and rental expenses 0 13 (13) 0 13 (13) Utilities 18,805 19,323 (518) 18,805 19,323 (518) 231, ,075 Telecommunication 8,506 13,168 (4,662) 8,506 13,168 (4,662) 158, ,513 Travel 2,355 2, ,355 2, ,088 22,733 Insurance 62,450 46,664 15,786 62,450 46,664 15, , ,520 Project expenses Non cash expenses (gains) Depreciation and amortization 27, ,521 27, ,521 0 (27,521) Total operating expenses 2,663,107 2,764,750 (101,642) 2,663,107 2,764,750 (101,642) 30,219,610 27,556,503 OPERATING INCOME 9,366,047 8,240,250 1,125,797 9,366,047 8,240,250 1,125, ,452, ,086,342 NON OPERATING REVENUES (EXPENSES) Unrealized investment gains (losses) Realized investment gains (losses) 39, ,357 39, ,357 0 (39,357) Interest expense (13) 0 (13) (13) 0 (13) 0 13 Total non operating revenues (expenses) 39, ,344 39, ,344 0 (39,344) GAIN (LOSS) BEFORE CAPITAL CONTRIBUTIONS 9,405,391 8,240,250 1,165,141 9,405,391 8,240,250 1,165, ,452, ,046,999 CAPITAL CONTRIBUTIONS Federal grants State grants Local grants Total capital contributions INCREASE (DECREASE) IN NET POSITION $ 9,405,391 $ 8,240,250 $ 1,165,141 $ 9,405,391 $ 8,240,250 $ 1,165,141 $ 124,452,390 $ 115,046,999 ============== ============== ============== ============== ============== ============== ============== ============== 7
14 MWAA Corporate Ledger Date: 09 FEB 17 19:49:58 DCE O&M Comparative Income Statement Page: 1 Current Period: Jan 17 Currency: USD Fund=70 (O&M Dulles Corridor Enterprise Operations and Maintenance Program) Current Month Prior Month Variance Current Month Variance Year to Date Year to Date Variance Prior Year Prior Year OPERATING REVENUES Tolls cash $ 1,368,724 $ 1,527,289 $ (158,565) $ 1,309,304 $ 59,420 $ 1,368,724 $ 1,309,304 $ 59,420 Tolls AVI 10,305,317 10,401,977 (96,660) 8,954,355 1,350,962 10,305,317 8,954,355 1,350,962 Tolls violations 355, ,148 58, ,856 75, , ,856 75,257 Total operating revenues 12,029,155 12,225,413 (196,259) 10,543,515 1,485,639 12,029,155 10,543,515 1,485,639 OPERATING EXPENSES Salaries and related benefits 636,565 1,034,430 (397,864) 595,250 41, , ,250 41,315 Services 914, , ,998 2,024,846 (1,110,081) 914,765 2,024,846 (1,110,081) ETC transaction fees 977,918 1,029,366 (51,448) 677, , , , ,252 Materials and supplies 14,221 (8,620) 22, ,966 (170,745) 14, ,966 (170,745) Lease and rental expenses (592) (56) 56 (56) Utilities 18,805 42,328 (23,523) 17,557 1,248 18,805 17,557 1,248 Telecommunication 8,506 (53,706) 62,212 11,866 (3,359) 8,506 11,866 (3,359) Travel 2,355 3,562 (1,206) 2, ,355 2, Insurance 62,450 44,652 17,798 23,119 39,332 62,450 23,119 39,332 Project expenses 32 (32) Non cash expenses (gains) 25 (25) (4) 4 (4) 4 Depreciation and amortization 27,521 (147,768) 175,289 39,311 (11,790) 27,521 39,311 (11,790) Total operating expenses 2,663,107 2,520, ,633 3,576,655 (913,547) 2,663,107 3,576,655 (913,547) OPERATING INCOME 9,366,047 9,704,939 (338,891) 6,966,860 2,399,187 9,366,047 6,966,860 2,399,187 NON OPERATING REVENUES (EXPENSES) Unrealized investment gains (losses) Realized investment gains (losses) 39,357 26,571 12,786 5,445 33,912 39,357 5,445 33,912 Interest expense (13) (2) (11) 0 (13) (13) 0 (13) Total non operating revenues (expenses) 39,344 26,570 12,774 5,445 33,899 39,344 5,445 33,899 GAIN (LOSS) BEFORE CAPITAL CONTRIBUTIONS 9,405,391 9,731,508 (326,117) 6,972,305 2,433,086 9,405,391 6,972,305 2,433,086 CAPITAL CONTRIBUTIONS Federal grants State grants Local grants Total capital contributions INCREASE (DECREASE) IN NET POSITION $ 9,405,391 $ 9,731,508 $ (326,117) $ 6,972,305 $ 2,433,086 $ 9,405,391 $ 6,972,305 $ 2,433,086 =============== ============================== =============== =============== =============== =============== =============== 8
15 METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES CORRIDOR ENTERPRISE (TOLL ROAD ONLY) COMPARATIVE ANALYSIS OF REVENUE AND EXPENSES (GAAP BASIS) THIS MONTH VS. LAST MONTH AND LAST YEAR FOR THE MONTH ENDED JANUARY 31, 2017 DULLES TOLL ROAD % LAST YR. % JANUARY 2017 DECEMBER 2016 VARIANCE CHANGE (SAME MONTH) DIFF. CHANGE TOLLS - CASH $ 1,368,724 $ 1,527,289 $ (158,565) (10.4%) $ 1,309,304 $ 59, % TOLLS - AVI 10,305,317 10,401,977 (96,660) (0.9%) 8,954,355 1,350, % TOLLS - VIOLATIONS/OTHER 355, ,148 58, % 279,856 75, % TOLLS - CASH OVER/SHORT TOTAL REVENUES 12,029,155 12,225,413 (196,259) (1.6%) 10,543,515 1,485, % SALARIES AND RELATED BENEFITS 636,565 1,034,430 (397,864) (38.5%) 595,250 41, % SERVICES 914, , , % 2,024,846 (1,110,081) (54.8%) ETC TRANSACTION FEES 977,918 1,029,366 (51,448) (5.0%) 677, , % MATERIALS AND SUPPLIES 14,221 (8,620) 22, % 184,966 (170,745) (92.3%) LEASE AND RENTAL EXPENSES (592) % 56 (56) (100.0%) UTILITIES 18,805 42,328 (23,523) (55.6%) 17,557 1, % TELECOMMUNICATION EXPENSES 8,506 (53,706) 62, % 11,866 (3,359) (28.3%) TRAVEL 2,355 3,562 (1,206) (33.9%) 2, % INSURANCE 62,450 44,652 17, % 23,119 39, % NON-CAPITALIZED FACILITY PROJECTS - 32 (32) (100.0%) - NON-CASH EXPENSES - 25 (25) - (4) % DEPRECIATION AND AMORTIZATION 27,521 (147,768) 175,289-39,311 (11,790) (30.0%) TOTAL EXPENSES 2,663,107 2,520, , % 3,576,655 (913,548) (25.5%) OPERATING INCOME 9,366,047 9,704,939 (338,891) (3.5%) 6,966,860 2,399, % NON-OPERATING INCOME (EXPENSE) 39,344 26,570 12, % 5,445 33, % NET INCOME $ 9,405,391 $ 9,731,508 $ (326,117) (3.4%) $ 6,972,305 $ 2,433, % TOLL ROAD REVENUES $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 TOLLS - CASH TOLLS - AVI TOLLS - VIOLATIONS JANUARY 2016 JANUARY 2017 DECEMBER
16 METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES CORRIDOR ENTERPRISE (TOLL ROAD ONLY) COMPARATIVE ANALYSIS OF REVENUE AND EXPENSES (GAAP BASIS) YEAR-TO-DATE THIS YEAR VS. LAST YEAR DULLES TOLL ROAD YEAR-TO-DATE YEAR-TO-DATE % JANUARY 31, 2017 JANUARY 31, 2016 VARIANCE CHANGE TOLLS - CASH $ 1,368,724 $ 1,309,304 $ 59, % TOLLS - AVI 10,305,317 8,954,355 1,350, % TOLLS - VIOLATIONS/OTHER 355, ,856 75, % TOLLS - CASH OVER/SHORT TOTAL REVENUES 12,029,155 10,543,515 1,485, % SALARIES AND RELATED BENEFITS 636, ,250 41, % SERVICES 914,765 2,024,846 (1,110,081) (54.8%) ETC TRANSACTION FEES 977, , , % MATERIALS AND SUPPLIES 14, ,966 (170,745) (92.3%) LEASE AND RENTAL EXPENSES 56 (56) (100.0%) UTILITIES 18,805 17,557 1, % TELECOMMUNICATION EXPENSES 8,506 11,866 (3,359) (28.3%) TRAVEL 2,355 2, % INSURANCE 62,450 23,119 39, % NON-CAPITALIZED FACILITY PROJECTS - NON-CASH EXPENSES (4) % DEPRECIATION AND AMORTIZATION 27,521 39,311 (11,790) (30.0%) TOTAL EXPENSES 2,663,107 3,576,655 (913,548) (25.5%) OPERATING INCOME 9,366,047 6,966,860 2,399, % NON-OPERATING INCOME (EXPENSE) 39,344 5,445 33, % NET INCOME $ 9,405,391 $ 6,972,305 $ 2,433, % TOLL ROAD YEAR-TO-DATE REVENUES $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 TOLLS - CASH TOLLS - AVI TOLLS - VIOLATIONS/OTHER JANUARY 31, 2016 JANUARY 31,
17 METROPOLITAN WASHINGTON AIRPORTS AUTHORITY ACTUAL VS BUDGET REVENUE SUMMARY DULLES CORRIDOR ENTERPRISE FUND - TOLL ROAD PERIOD ENDED JANUARY 31, 2017 NOTE: 8.3% OF YEAR COMPLETED YEAR-TO-DATE ANNUAL BUDGET REMAINING % EARNED % EARNED REVENUES: TOLLS - CASH $ 1,723,838 $ 18,560,640 $ 16,836, % 5.8% TOLLS - AVI 10,305, ,111, ,806, % 6.9% TOTAL REVENUES $ 12,029,155 $ 154,672,000 $ 142,642, % 6.7% 16.6% 8.3% OF YEAR COMPLETED % EARNED 8.3% 0.0% TOLLS CASH TOLLS AVI
18 METROPOLITAN WASHINGTON AIRPORTS AUTHORITY ACTUAL VS BUDGET EXPENSE SUMMARY DULLES CORRIDOR ENTERPRISE FUND - TOLL ROAD PERIOD ENDED JANUARY 31, 2017 NOTE: 8.3% OF YEAR COMPLETED YEAR-TO-DATE ANNUAL BUDGET REMAINING % USED % USED OPERATING EXPENSES PERSONNEL COMPENSATION AND BENEFITS $ 636,565 $ 7,247,915 $ 6,611, % 7.9% TRAVEL 2,355 25,088 22, % 9.2% LEASE AND RENTAL PAYMENTS N/A 0.5% UTILITIES 18, , , % 7.5% TELECOMMUNICATIONS 8, , , % 7.7% SERVICES 1,892,683 21,347,440 19,454, % 12.5% SUPPLIES & MATERIALS 14, , , % 24.6% INSURANCE & RISK MANAGEMENT 62, , , % 3.2% NONCAPITAL EQUIPMENT N/A 0.0% NONCAPITAL PROJECTS N/A N/A CAPITAL EQUIPMENT - - N/A N/A CAPITAL FACILITY PROJECTS N/A N/A TOTAL EXPENSES $ 2,635,585 $ 30,219,610 $ 27,584, % 11.3% % OF BUDGET USED 24.9% 16.6% 8.3% 8.3% OF YEAR COMPLETED 0.0%
19 METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES CORRIDOR ENTERPRISE FUND DEBT SERVICE COVERAGE PERIOD ENDED JANUARY 31, 2017 Requirements January DTR Gross Toll Revenue $ 12,029,155 Toll Road O&M Expense (Less Depreciation) (2,635,586) Other Expense - Other Income 39,344 NET REVENUE AVAILABLE FOR DEBT SERVICE $9,432,913 First Senior Lien, Series ,916 Second Senior Lien, Series ,679,865 Less 35% subsidy on 2009 BAB's (1) (810,498) Subordinate Lien, Series 2010 (2) 1,000,000 Less 35% subsidy on 2010 BAB's (1) (325,850) CP Series 1 78,312 Second Senior Lien, Series 2014A (3) 1,757,333 TOTAL DEBT SERVICE $4,391,078 First Senior Lien Debt Service Coverage 2.00 x x Second Senior Lien Debt Service Coverage 1.35 x 2.59 x Subordinate Lien Debt Service Coverage 1.20 x 2.15 x Note: Excludes any accretion associated with any liens. (1) The 2009D & 2010D BAB subsidies are reduced by 2.4% sequestration to 32.6%. (2) Net of interest earnings (3) Notes were refunded with the 2014A bond series in May
20 Dulles Corridor Enterprise Fund Dulles Toll Road Transaction Comparisons Transaction 1 January February March April May June July August September October November December YTD Comparative Annual ,720,943 7,720,943 7,720, ,801,818 7,597,218 8,546,164 8,376,903 8,486,112 8,761,470 8,156,218 8,502,760 8,153,590 8,584,122 7,889,319 7,862,834 6,801,818 97,718, ,421,306 6,949,373 8,067,467 8,531,503 8,630,483 8,763,974 8,622,889 8,348,215 8,316,546 8,660,062 7,806,575 8,122,250 7,421,306 98,240, T&R Forecast 2 7,155,000 7,440,000 8,627,000 8,418,000 8,794,000 8,926,000 8,340,000 8,552,000 8,471,000 9,116,000 8,096,000 8,291,000 7,155, ,226,000 % of Forecast 107.9% 107.9% Avg. Weekday Trans. 3 January February March April May June July August September October November December YTD Comparative Annual , , , , , , , , , , , , , , , ,869 3,750, , , , , , , , , , , , , ,876 3,767,816 9,500,000 9,000,000 8,500,000 8,000,000 7,500,000 7,000,000 6,500,000 Toll Road Transactions 6,000,000 5,500,000 5,000, T&R Forecast 1 Transactions include cash and credit card, automatic vehicle identification (i.e., E-ZPass), non-revenue transactions (e.g., emergency or military vehicles), and violations. 2 The 2017 T&R Forecast is based upon the CDM Smith Traffic and Revenue report 3 Weekdays exclude federal holidays and days in which federal government offices are closed. Effective January 1, 2013, toll rates increased 25 cents at the main toll plaza as well as the on/off ramps. Effective January 1, 2014, toll rates increased 75 cents at the main toll plaza. 14
21 Dulles Corridor Enterprise Fund Dulles Toll Road Revenue Comparison January February March April May June July August September October November December YTD Comparative Annual 2017 $ 12,029,155 $ 12,029,155 $ 12,029, $ 10,543,515 $ 11,704,668 $ 13,167,526 $ 12,896,331 $ 13,116,779 $ 13,454,426 $ 12,716,315 $ 13,221,979 $ 12,794,683 $ 13,558,343 $ 12,336,830 $ 12,225,413 $ 10,543,515 $ 151,736, ,389,551 10,642,237 12,344,215 13,092,256 13,324,202 13,442,996 13,284,638 12,991,819 12,918,314 13,374,739 12,114,303 12,512,489 11,389, ,431, ,628,573 10,649,396 12,024,127 12,881,743 13,288,581 13,173,845 12,991,259 12,548,064 12,777,532 13,127,022 11,523,551 12,039,048 11,628, ,652, T&R Forecast 1 11,005,000 11,462,000 13,325,000 13,009,000 13,558,000 13,779,000 12,935,000 13,288,000 13,056,000 14,032,000 12,459,000 12,764,000 $ 11,005, ,672,000 % of Forecast 109.3% 109.3% 7.8% $14,000,000 Toll Road Revenue $13,000,000 $12,000,000 $11,000,000 $10,000,000 $9,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000, T&R Forecast1 Effective January 1, 2012, toll rates increased 25 cents at the main toll plaza. Effective January 1, 2013, toll rates increased 25 cents at the main toll plaza as well as the on/off ramps. Effective January 1, 2014, toll rates increased 75 cents at the main toll plaza. 1 The 2015 T&R Forecast is based upon the CDM Smith Traffic and Revenue report issued in April
Dulles Corridor Enterprise Financial Report for the Year Ended December 31, 2016 (Preliminary Unaudited) UNAUDITED COPY
Dulles Corridor Enterprise Financial Report for the Year Ended December 31, 2016 (Preliminary Unaudited) Prepared by the Office of Finance February 2017 Dulles Corridor Enterprise Preliminary December
More informationM E T R O P O L I T A N W A S H I N G T O N A I R P O R T S A U T H O R I T Y. Dulles Corridor Enterprise September 2015 Financial Report
M E T R O P O L I T A N W A S H I N G T O N A I R P O R T S A U T H O R I T Y Dulles Corridor Enterprise September 2015 Financial Report Prepared by the Office of Finance October 2015 M E T R O P O L I
More informationMETROPOLITAN WASHINGTON AIRPORTS AUTHORITY
METROPOLITAN WASHINGTON AIRPORTS AUTHORITY FINANCIAL STATEMENTS DULLES CORRIDOR ENTERPRISE FEBRUARY 2013 METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES CORRIDOR ENTERPRISE FUND FINANCIAL REPORT FEBRUARY
More informationMETROPOLITAN WASHINGTON AIRPORTS AUTHORITY
METROPOLITAN WASHINGTON AIRPORTS AUTHORITY FINANCIAL STATEMENTS DULLES CORRIDOR ENTERPRISE M FEBRUARY 2014 METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES CORRIDOR ENTERPRISE FUND FINANCIAL REPORT FEBRUARY
More informationDulles Corridor Enterprise June 2014 Financial Report
M E T R O P O L I T A N W A S H I N G T O N A I R P O R T S A U T H O R I T Y Dulles Corridor Enterprise June 2014 Financial Report Prepared by the Office of Finance July 2014 M E T R O P O L I T A N W
More informationDulles Corridor Enterprise May 2012 Financial Report
M E T R O P O L I T A N W A S H I N G T O N A I R P O R T S A U T H O R I T Y Dulles Corridor Enterprise May 2012 Financial Report Prepared by the Office of Finance June 2012 1 M E T R O P O L I T A N
More informationJANUARY 2018 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
JANUARY 2018 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with
More informationFEBRUARY 2013 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
FEBRUARY 2013 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with
More informationNOVEMBER 2017 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
NOVEMBER 2017 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with
More informationDulles Corridor Enterprise Financial Update Dulles Corridor Advisory Committee Meeting
Dulles Corridor Enterprise Financial Update Dulles Corridor Advisory Committee Meeting December 15, 2014 Discussion Outline Finance Plan for the Metrorail Project Allocation of Estimated Capital Costs
More informationJUNE 2018 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
JUNE 2018 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with the
More informationDulles Corridor Enterprise Financial Update Dulles Corridor Advisory Committee Meeting
Dulles Corridor Enterprise Financial Update Dulles Corridor Advisory Committee Meeting May 30, 2014 Discussion Outline Finance Plan for the Metrorail Project Allocation of Estimated Capital Costs and TIFIA
More informationMARCH 2017 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
MARCH 2017 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with the
More informationOCTOBER 2018 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
OCTOBER 2018 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with
More informationOCTOBER 2017 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
OCTOBER 2017 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with
More informationNOVEMBER 2014 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
NOVEMBER 2014 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with
More informationMARCH 2015 REPORT OF THE. and. provides the DCE. Fund. Transportation. or about March. Dulles Tolll Road. Staff and.
Dulles Tolll Road MARCH 2015 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity
More informationFEBRUARY 2015 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
FEBRUARY 2015 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with
More informationNOVEMBER 2013 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
NOVEMBER 2013 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with
More informationJANUARY 2017 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
JANUARY 2017 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with
More informationSEPTEMBER 2018 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
SEPTEMBER 2018 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with
More informationMETROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES TOLL ROAD REVENUE BONDS ANNUAL REPORT
METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES TOLL ROAD REVENUE BONDS ANNUAL REPORT (as required per the CDA, August 2009, May 2010, May 2014) The following updates certain information set forth in
More informationOCTOBER 2013 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
OCTOBER 2013 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with
More informationNOVEMBER 2018 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
NOVEMBER 2018 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with
More informationMARCH 2014 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
MARCH 2014 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with the
More informationAPRIL 2013 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS
APRIL 2013 DULLES CORRIDOR ENTERPRISE REPORT OF THE FINANCIAL ADVISORS The Airports Authority established the Dulles Corridor Enterprise (DCE) Fund to segregate the financial activity associated with the
More informationMARCH 2016 REPORT OF THE. and. provides the DCE. Fund. Staff is in. Terry. include: Widening
Dulles Tolll Road The Airports Authority established Dulles Corridor Enterprise (DCE) Fund to segregate financial activity associated withh operation, maintenance and improvement of Dulles Toll Road (DTR)
More informationBudget Actual YE Actual YTD Actual YTD. Actuals Margin FY 15/16 FY 14/15 FY 15/16 FY 14/15 FY 15/16 FY 14/15 Variance FY 15/16 FY 14/15 Revenues
Operating Budget Variance Report For the 10 Month Period Ending April 30, 2016 83.33% Budget Actual YE Actual YTD Actual YTD % of Actual to Budget % of Actual to YE Actual Actuals Margin FY 15/16 FY 14/15
More informationMARYLAND TRANSPORTATION AUTHORITY. An Enterprise Fund of the State of Maryland. FINANCIAL STATEMENTS For the Fiscal Year Ended June 30, 2015
MARYLAND TRANSPORTATION AUTHORITY An Enterprise Fund of the State of Maryland FINANCIAL STATEMENTS For the Fiscal Year Ended TABLE OF CONTENTS PAGE INDEPENDENT AUDITORS REPORT... 1 MANAGEMENT S DISCUSSION
More informationCITY OF RICHMOND, VIRGINIA STATEMENT OF NET ASSETS PROPRIETARY FUNDS June 30, 2003
EXHIBIT E-1 STATEMENT OF NET ASSETS June 30, 2003 Water Wastewater Other Total Assets Current Assets: Cash and Cash Equivalents (Note 3) $ 11,920,298 $ 3,549,036 $ 34,276,821 $ 410,532 $ 50,156,687 $ 40,994,362
More informationVIRGINIA PORT AUTHORITY AND VIRGINIA INTERNATIONAL TERMINALS, LLC FINANCIAL HIGHLIGHTS FOR THE ELEVEN MONTHS ENDED MAY 31, 2015
VIRGINIA PORT AUTHORITY AND VIRGINIA INTERNATIONAL TERMINALS, LLC FINANCIAL HIGHLIGHTS FOR THE ELEVEN MONTHS ENDED MAY 31, 2015 The following is a summary of the results of operations through the eleventh
More informationSTATE ROAD AND TOLLWAY AUTHORITY (A Component Unit of the State of Georgia)
STATE ROAD AND TOLLWAY AUTHORITY (A Component Unit of the State of Georgia) FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2012 STATE ROAD AND TOLLWAY AUTHORITY FINANCIAL REPORT JUNE 30, 2012 TABLE
More informationCITY OF RICHMOND, VIRGINIA STATEMENT OF NET ASSETS PROPRIETARY FUNDS June 30, 2002
EXHIBIT E-1 STATEMENT OF NET ASSETS June 30, 2002 Gas Water Wastewater Other Total Funds Assets Current Assets: Cash and Cash Equivalents (Note 3) $ 30,395,244 $ 6,526,802 $ 39,908,622 $ 379,726 $ 77,210,394
More informationFY 15/16 FY 14/15 FY 15/16 FY 14/15 FY 15/16 FY
Balance Sheet January 31, 2016 Net Pension Unrestricted Restricted Auxiliaries Endowment Plant Agency Liability Total Assets and Deferred Outflows Cash and Cash Receivables $ 12,001,104 $ 276,166 $ 1,062,587
More informationVIRGINIA PORT AUTHORITY AND VIRGINIA INTERNATIONAL TERMINALS, LLC FINANCIAL HIGHLIGHTS FOR THE FIVE MONTHS ENDED NOVEMBER 30, 2015
VIRGINIA PORT AUTHORITY AND VIRGINIA INTERNATIONAL TERMINALS, LLC FINANCIAL HIGHLIGHTS FOR THE FIVE MONTHS ENDED NOVEMBER 30, 2015 The following is a summary of the results of operations through the fifth
More informationSan Antonio Water System
CONDENSED MONTHLY FINANCIAL REPORT December 2018 San Antonio, Texas CONDENSED MONTHLY FINANCIAL REPORT SAN ANTONIO WATER SYSTEM DECEMBER 31, 2018 Attached is the monthly financial report of the (SAWS)
More informationJunior Achievement USA
Statements of Financial Position June 30, 2018 and 2017 Assets Current Assets Cash and cash equivalents $ 6,296,268 $ 6,097,050 Investments 11,520,352 12,072,268 Contributions receivable, net 1,697,096
More informationTotal operating revenues 44,275,651 43,814,411 42,363, ,240
COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION Actual vs Budget and Prior Year For the Month Ended November 30, 2017 Favorable (Unfavorable) Variance Actual Budget Prior Year Actual/Budget
More informationStatement of Revenues, Expenses, and Changes in Net Position (Income Statement) Page 4
M E M O R A N D U M EUGENE WATER & ELECTRIC BOARD TO: FROM: DATE: August 26, 2016 SUBJECT: OBJECTIVE: Commissioners Simpson, Helgeson, Manning, Mital and Brown Sue Fahey, CFO; Susan Eicher, Accounting
More informationGrand Parkway Transportation Corporation. State Highway 99 Grand Parkway System
Grand Parkway Transportation Corporation State Highway 99 Traffic and Operating Report F o r the Fiscal Quarter Ending November 30, 2018 R e l a t i n g t o E a c h O u t s t a n d i n g I s s u e w i
More informationMURRAY COUNTY BOARD OF EDUCATION STATEMENT OF NET POSITION JUNE 30, 2017
MURRAY COUNTY BOARD OF EDUCATION STATEMENT OF NET POSITION EXHIBIT "A" GOVERNMENTAL ACTIVITIES ASSETS Cash and Cash Equivalents $ 30,073,091.54 Investments 328,287.50 Receivables, Net Interest - Taxes
More informationGlobal Credit Research - 25 Jun 2015
Rating Update: Moody's affirms ratings on Metropolitan Washington Airports Authority (DC) Dulles Corridor Enterprise/Dulles Toll Road (DTR) outstanding debt, including TIFIA loan; outlook is stable Global
More informationWashington Metropolitan Area Transit Authority
Washington Metropolitan Area Transit Authority Financial Report For the Fiscal Years Ended June 30, 2017 and 2016 Table of Contents Washington Metropolitan Area Transit Authority Financial Report For the
More informationWRIGHT STATE UNIVERSITY
FINANCE, AUDIT and INFRASTRUCTURE COMMITTEE November 17, 2017 Financial Statement Summary Fiscal Year Ended June 30, 2017 A Component Unit of the State of Ohio Statements of Net Position June 30, 2017
More informationAnnual FINANCIAL REPORT
Annual FINANCIAL REPORT of Texas A&M University at Galveston For the Year Ended August 31, 2016 With Comparative Totals for the Year Ended August 31, 2015 Mr. Michael K. Young, President, Texas A&M University
More informationGRAND PARKWAY TRANSPORTATION CORPORATION Monthly Traffic And Operating Report* For the Period Ending: February 28, 2018
Contents System Revenue, Expenses, Transactions & Proceeds from Sales of System Assets... 3 Footnotes to Page 3... 4 Toll Rate Schedule... 6 Outstanding Obligations... 7 Trust Account Balances & Activity
More informationCURRENT FUND BALANCED BUDGET CASH PROJECTIONS
March 2018 Cash Projections - 1 - Tacoma Power TACOMA POWER CURRENT FUND BALANCED BUDGET CASH PROJECTIONS Estimated Cash for 2017-2018 250 200 150 AMOUNT (millions) 100 50 0 Dec-17 Jan-18 Feb-18 Mar-18
More informationCITY OF RICHMOND, VIRGINIA STATEMENT OF NET ASSETS PROPRIETARY FUNDS June 30, 2004
EXHIBIT E-1 STATEMENT OF NET ASSETS June 30, 2004 Water Wastewater Other Total Assets Current Assets: Cash and Cash Equivalents (Note 3) $ 31,717,844 $ 5,117,193 $ 35,102,877 $ 99,857 $ 72,037,771 $ 42,342,593
More informationGRAND PARKWAY TRANSPORTATION CORPORATION MONTHLY TRAFFIC AND OPERATING REPORT* For the Period Ending: September 30, 2017
TABLE OF CONTENTS SYSTEM REVENUE AND EXPENSES SYSTEM TRANSACTIONS PROCEEDS FROM SALE OF SYSTEM ASSETS FOOTNOTES TO PAGE 3 4 TOLL RATE SCHEDULE 6 OUTSTANDING OBLIGATIONS 7 TRUST ACCOUNT BALANCES & ACTIVITY
More informationRECOMMENDATION TO THE DULLES CORRIDOR AND FINANCE COMMITTEES
Dulles Toll Road RECOMMENDATION TO THE DULLES CORRIDOR AND FINANCE COMMITTEES PROPOSED AMENDMENT TO REGULATION THAT ESTABLISHES TOLL RATES FOR THE USE OF THE DULLES TOLL ROAD ACTION REQUESTED JUNE 2018
More informationMASTER INDENTURE OF TRUST. by and between METROPOLITAN WASHINGTON AIRPORTS AUTHORITY. and. MANUFACTURERS AND TRADERS TRUST COMPANY as Trustee
EXECUTION COPY MASTER INDENTURE OF TRUST by and between METROPOLITAN WASHINGTON AIRPORTS AUTHORITY and MANUFACTURERS AND TRADERS TRUST COMPANY as Trustee securing Dulles Toll Road Revenue Bonds Dated as
More informationStatements of Net Position - Business - Type Activities South Carolina Public Service Authority As of March 31, 2018 and December 31, 2017
Statements of Net Position - Business - Type Activities As of March 31, 2018 and December 31, 2017 ASSETS Current assets Unrestricted cash and cash equivalents $ 207,610 $ 731,758 Unrestricted investments
More informationStatements of Net Position - Business - Type Activities South Carolina Public Service Authority As of September 30, 2018 and December 31, 2017
Statements of Net Position - Business - Type Activities As of September 30, 2018 and December 31, 2017 ASSETS Current assets Unrestricted cash and cash equivalents $ 315,796 $ 731,758 Unrestricted investments
More informationThis chapter describes the initial financial analysis and planning for the construction and operations of the Locally Preferred Alternative (LPA).
8 FINANCIAL ANALYSIS This chapter describes the initial financial analysis and planning for the construction and operations of the Locally Preferred Alternative (LPA). The alternative formerly known as
More informationCURRENT FUND BALANCED BUDGET CASH PROJECTIONS
TACOMA POWER CURRENT FUND BALANCED BUDGET CASH PROJECTIONS Estimated Cash for 2017-2018 250 200 150 100 50 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Min 60% Min
More informationBudget YE Actual YTD Actual YTD Actual. Actuals Margin FY 16/17 FY 15/16 FY 16/17 FY 15/16 FY 16/17 FY 15/16 Variance FY 16/17 FY 15/16 Revenues
Operating Budget Variance Report 8.33% Budget YE Actual YTD Actual YTD Actual % of YTD Actual to Budget % of YTD Actual to YE Actual Actuals Margin FY 16/17 FY 15/16 FY 16/17 FY 15/16 FY 16/17 FY 15/16
More informationFinancial Statements (Unaudited) June 30, 2017
Financial Statements (Unaudited) June 30, 2017 STATEMENTS OF NET POSITION (in 1,000s) June 30, 2017 Component Units 2017 2017 ASSETS Current Assets Cash and cash equivalents 17,824 34,372 Short-term investments
More informationGRAND PARKWAY TRANSPORTATION CORPORATION MONTHLY TRAFFIC AND OPERATING REPORT* For the Period Ending: August 31, 2017
TABLE OF CONTENTS SYSTEM REVENUE AND EXPENSES SYSTEM TRANSACTIONS PROCEEDS FROM SALE OF SYSTEM ASSETS FOOTNOTES TO PAGE 3 4 TOLL RATE SCHEDULE 6 OUTSTANDING OBLIGATIONS 7 TRUST ACCOUNT BALANCES & ACTIVITY
More informationFinancial Report st Quarter/Unaudited
Financial Report 2014 1st Quarter/Unaudited MANAGEMENT S DISCUSSION AND ANALYSIS City and County of Denver Management s Discussion and Analysis For the Three Months Ended March 31, 2014 The following discussion
More informationToll Road Investors Partnership II, L.P. (A Virginia limited partnership) Financial Statements December 31, 2017 and 2016
Toll Road Investors Partnership II, L.P. Financial Statements Index Page(s) Report of Independent Auditors... 1 Financial Statements Balance Sheets... 2 Statements of Operations... 3 Statements of Changes
More informationBudget Actual Actual Actual. Actuals Margin FY 15/16 FY 14/15 FY 15/16 FY 14/15 FY 15/16 FY 14/15 Variance FY 15/16 FY 14/15 Revenues
Operating Budget Variance Report For the 9 Month Period Ending March 31, 2016 75.00% Budget Actual Actual Actual % of Actual to Budget % of Actual to YE Actual Actuals Margin FY 15/16 FY 14/15 FY 15/16
More informationGRAND PARKWAY TRANSPORTATION CORPORATION MONTHLY TRAFFIC AND OPERATING REPORT. For the Period Ending: June 30, 2016
TABLE OF CONTENTS Page SYSTEM REVENUE AND EXPENSES 3 PROCEEDS FROM SALE OF SYSTEM ASSETS 3 SYSTEM TRANSACTIONS 3 TOLL RATE SCHEDULE 4 OUTSTANDING OBLIGATIONS 5 TRUST ACCOUNT BALANCES & ACTIVITY AT MARKET
More informationBeatitudes Campus. Occupancy. Days of Cash on Hand. Occupancy. Operating Ratio. Debt Service Coverage Ratio
86% 96% 95% 80% 2018 Forecast 86% 95% 80% 2018 YTD 2017 2016 2015 2014 2013 Operating Ratio Operating Ratio (Revenue ) / (Expenses-(Depreciation & Amortization)) (Revenue)/(Expenses-(Depr & Amort)) Debt
More informationBUDGETWATCH March 2019 Flash Report
March 2019 Flash Report Overall Latest Condition (reporting on operations through February and subsidies through March): Overall, YTD preliminary net results were favorable mainly reflecting lower operating
More informationDULLES CORRIDOR METRORAIL PROJECT MONTHLY COST SUMMARY AS OF FEBRUARY 28, 2013 APRIL 2013
M E T R O P O L I T A N W A S H I N G T O N A I R P O R T S A U T H O R I T Y DULLES CORRIDOR METRORAIL PROJECT AS OF FEBRUARY 28, 2013 APRIL 2013 0 M E T R O P O L I T A N W A S H I N G T O N A I R P
More informationUnrestricted Cash / Board Designated Cash & Investments December 2015
Unrestricted Cash / Board Designated Cash & Investments December 2015 25.0 21.0 20.0 19.5 18.9 18.1 16.8 16.5 15.9 15.0 10.0 11.0 12.8 9.1 10.4 9.8 11.1 14.7 14.2 14.1 9.9 12.0 8.4 13.0 10.2 11.6 14.9
More informationAnnual FINANCIAL REPORT
UNAUDITED Template provided by System Annual FINANCIAL REPORT of Texas A&M University at Galveston For the Year Ended August 31, 2016 With Comparative Totals for the Year Ended August 31, 2015 Be sure
More informationRCTC 91 EXPRESS LANES FUND FINANCIAL STATEMENTS (Enterprise Fund of the Riverside County Transportation Commission)
RCTC RIVERSIDE COUNTY TRANSPORTATION COMMISSION FISCAL YEAR ENDED JUNE 30, 2017 RCTC 91 EXPRESS LANES FUND FINANCIAL STATEMENTS (Enterprise Fund of the Riverside County Transportation Commission) Riverside
More information0.- NEW JERSEY. and as of
0.- NEW JERSEY TURNPIKE AUTHORITY and Unaudited Financial Statements as of and 2016 (A Component Unit of the State of New Jersey) (Dollars shown in thousands) 1 Table of Contents Highlights... 2 Condensed
More informationBUDGETWATCH October 2018 Flash Report
October 2018 Flash Report Overall Latest Condition (reporting on operations through September and subsidies through October): Passenger Revenues were slightly below the Forecast in September, marginally
More informationSchedule of Revenues, Expenses, and Changes in Net Position (Income Statement) Page 4
M E M O R A N D U M EUGENE WATER & ELECTRIC BOARD TO: Commissioners Simpson, Helgeson, Manning, Mital and Brown FROM: Sue Fahey, Chief Financial Officer; Susan Eicher, Accounting & Treasury Supervisor
More informationWASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY WASHINGTON, DC. FINANCIAL STATEMENTS June 30, 2013
WASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY WASHINGTON, DC FINANCIAL STATEMENTS TABLE OF CONTENTS PAGE INDEPENDENT AUDITORS REPORT... 1 FINANCIAL STATEMENTS Statement of Net Position... 3 Statement
More informationInterim Financial Statements - Unaudited. For the Period Ended December 31, 2018
Interim Financial Statements - Unaudited For the Period Ended December 31, 2018 Financial Statements - Unaudited For the Period Ended December 31, 2018 Contents Overview and Basis of Accounting 2 Management
More informationFiscal Year th Quarter Report Quarterly Report of Actual Traffic and Revenue For period ending August 31, 2017
Fiscal Year 2017 4 th Quarter Report Quarterly Report of Actual Traffic and Revenue For period ending August 31, 2017 Footer Text Date Table of Contents Section Page Number Notes and Observations 3-4 Significant
More informationRocco Sabino MBA, CPA
Rocco Sabino MBA, CPA Rocco.Sabino@Stonybrook.edu Agenda: I. Understanding Financial Information Ø Financial Statements q Income Statement It s all about earning income How does Human Resource (HR) affect
More informationINTERNAL SERVICE FUNDS
INTERNAL SERVICE FUNDS are used to account for the financing of goods or services provided by one department or agency to other departments or agencies of a governmental unit, or to other governmental
More informationWashington Metropolitan Area Transit Authority
Washington Metropolitan Area Transit Authority Financial Report issued in Accordance with Government Auditing Standards For the Years Ended June 30, 2016 and 2015 Single Audit Reports issued in Accordance
More informationTown of Carrboro, North Carolina Balance Sheet Governmental Funds June 30, 2016
Balance Sheet Governmental June 30, 2016 Major Grants Revolving Bond Capital Administration General Fund Loan Fund Fund Projects Fund Fund ASSETS Cash and cash equivalents $ 14,749,029 $ 493,234 $ 1,623,198
More informationBASIC FINANCIAL STATEMENTS- FUND FINANCIAL STATEMENTS
BASIC FINANCIAL STATEMENTS- FUND FINANCIAL STATEMENTS AE (This Page Intentionally Left Blank) 31 Balance Sheet Governmental Funds June 30, 2017 Teeter ASSETS AND DEFERRED OUTFLOWS OF Flood Debt RESOURCES:
More informationTriborough Bridge and Tunnel Authority
Triborough Bridge and Tunnel Authority Independent Auditors Report Financial Statements Years Ended December 31, 2004 and 2003 TRIBOROUGH BRIDGE AND TUNNEL AUTHORITY TABLE OF CONTENTS INDEPENDENT AUDITORS
More informationOpen Session. Board of Governors Meeting. November 14, Washington, DC /26/18-mh
Open Session Board of Governors Meeting November 14, 2014 Washington, DC 508-2/26/18-mh November 14, 2014 1 Preliminary Financial Results Fiscal Year 2014 Board of Governors Open Session November 14, 2014
More informationNet Income (Loss) Before Transfers 416,180 4,197,920 (311,262) (324,681) (74.8)% (7.7)% (67.1)% (1.4)% (1.4)%
Operating Budget Variance Report 41.7% Budget YE Actual YTD Actual YTD Actual Actual to Actual to Actuals Margin FY 17/18 FY 16/17 FY 17/18 FY 16/17 FY 17/18 FY 16/17 Variance FY 17/18 FY 16/17 State Appropriations
More informationUNAUDITED FINANCIAL STATEMENTS - DRAFT Mary Washington Healthcare and Subsidiaries. Consolidated Balance Sheets
Mary Washington Healthcare and Subsidiaries Consolidated Balance Sheets Assets Current assets: Cash and cash equivalents $ 46,496,328 $ 42,878,889 Accounts receivable: Patient accounts receivable, less
More informationCHUGACH ELECTRIC ASSOCIATION 1 STATEMENT OF OPERATIONS. Allowance for Funds Used During Construction. Total Cost of Electric Service (MTD Actual)
FINANCIAL REPORT MARCH 2014 STATEMENT OF OPERATIONS CATEGORY 2014 MTD ACTUAL 2014 MTD BUDGET Operating Revenue and Patronage Capital Fuel and Purchased Power Expense Power Production Expense Transmission
More informationDULLES CORRIDOR METRORAIL PROJECT MONTHLY COST AND SCHEDULE UPDATE FOR PHASES 1 AND 2 AS OF MAY 31, 2014 JULY 2014
DULLES CORRIDOR METRORAIL PROJECT MONTHLY COST AND SCHEDULE UPDATE FOR PHASES 1 AND 2 AS OF MAY 31, 2014 JULY 2014 0 Phase 1 Cost Summary May Expenditures $ 13.3 Million Total Expenditures $ 2.691 Billion
More informationGovernmental Funds Balance Sheet
Governmental Funds Balance Sheet June 30, 2014 with comparative total amounts for 2013 and 2012 Roaded Service General Area Sales Tax ASSETS Equity in central treasury $ 13,650,143 7,348,741 - Receivables,
More informationPortland International Jetport (An Enterprise Fund of the City of Portland, Maine) Financial Statements For the years ended June 30, 2017 and 2016
Portland International Jetport (An Enterprise Fund of the City of Portland, Maine) Financial Statements For the years ended June 30, 2017 and 2016 (An Enterprise Fund of the City of Portland, Maine) Financial
More informationBOARD OF SUPERVISORS FINANCE/GOVERNMENT OPERATIONS AND ECONOMIC DEVELOPMENT COMMITTEE INFORMATION ITEM
Date of Meeting: February 14, 2017 BOARD OF SUPERVISORS FINANCE/GOVERNMENT OPERATIONS AND ECONOMIC DEVELOPMENT COMMITTEE INFORMATION ITEM # 12 SUBJECT: Metrorail Financial Obligations ELECTION DISTRICT:
More informationBLOOMINGTON-NORMAL AIRPORT AUTHORITY OF MCLEAN COUNTY, ILLINOIS FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT.
OF MCLEAN COUNTY, ILLINOIS FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT April 30, 2015 OF MCLEAN COUNTY, ILLINOIS TABLE OF CONTENTS Page(s) INDEPENDENT AUDITOR S REPORT... 1-3 MANAGEMENT S DISCUSSION
More informationMetropolitan Transportation Authority (A Component Unit of the State of New York) Independent Auditors Review Report
Metropolitan Transportation Authority (A Component Unit of the State of New York) Independent Auditors Review Report Consolidated Interim Financial Statements as of and for the Three-Month Period Ended
More informationVia Technologies, Inc. and Subsidiaries Consolidated Financial Statements for the Six Months Ended June 30, 2015 and 2014
Via Technologies, Inc. and Subsidiaries Consolidated Financial Statements for the Six Months Ended June 30, 2015 and 2014-1 - CONSOLIDATED BALANCE SHEETS June 30, 2015 (Reviewed) December 31, 2014 (Audited)
More informationPORT EVERGLADES DEPARTMENT of Broward County, Florida Statements of Net Position June 30, 2017 and 2016 (Unaudited) (Dollars in Thousands)
Statements of Net Position June 30, 2017 and 2016 (Unaudited) ASSETS Current Assets Unrestricted assets Cash and cash equivalents $ 81,612 $ 17,606 Investments 223,838 242,888 Accounts receivable, trade
More informationPORT EVERGLADES DEPARTMENT of Broward County, Florida Statements of Net Position December 31, 2016 and 2015 (Unaudited) (Dollars in Thousands)
Statements of Net Position December 31, 2016 and 2015 (Unaudited) ASSETS Current Assets Unrestricted assets Cash and cash equivalents $ 435 $ 17,085 Investments 264,614 205,839 Accounts receivable, trade
More informationMetropolitan Transportation Authority (A Component Unit of the State of New York)
(A Component Unit of the State of New York) Independent Auditors Review Report as of and for the Six-Month Period Ended June 30, 2018 Table of Contents INDEPENDENT AUDITORS REVIEW REPORT 3 MANAGEMENT S
More informationUnappropriated retained earnings (accumulated deficit) Total unappropriated retained earnings (accumulated deficit) 676, ,797 Total retained ear
Financial Statement Balance Sheet Accounting Title 2014/12/31 2013/12/31 Balance Sheet Assets Current assets Cash and cash equivalents Total cash and cash equivalents 1,183,185 1,177,682 Current bond investment
More informationBUDGETWATCH April 2019 Flash Report
April 2019 Flash Report Overall Latest Condition (reporting on operations through March and subsidies through April): Due to the early scheduling of the Finance Committee meeting, first-close preliminary
More informationFinancial Statement Balance Sheet
Financial Statement Balance Sheet Accounting Title 2014/3/31 2013/12/31 2013/3/31 Balance Sheet Assets Current assets Cash and cash equivalents Total cash and cash equivalents 4,556,450 4,372,738 3,960,180
More informationFINANCIAL STATEMENTS
FINANCIAL STATEMENTS SEPTEMBER 2018 SMART CORPORATION EXECUTIVE SUMMARY FOR THE MONTH ENDING SEPTEMBER 30, 2018 (in thousands) INCOME STATEMENT Year to Date Annual Actual Budget Variance Forecast Budget
More informationFinancial Statements May 31, 2014
Financial Statements May 31, 2014 TABLE OF CONTENTS Title Page Graphs 1-3 Statement of Net Position 4-6 Statement of Revenues, Expenses and Changes in Net Position 7 Statement of Cash Flows 8 Total Expenditures
More informationTriborough Bridge and Tunnel Authority
Triborough Bridge and Tunnel Authority Independent Auditors Report Financial Statements Years Ended December 31, 2003 and 2002 TRIBOROUGH BRIDGE AND TUNNEL AUTHORITY TABLE OF CONTENTS Page INDEPENDENT
More information