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<br /> CONDENSED STATEMENT OF OPERATIONS
<br /> WATERWORKSAND~WERS~TEM
<br />Fiscal Year Ended 9-30-87 9-30-86 9-30-85 9-30-84 9-30-83
<br /> (Unaudited)
<br />Revenue
<br />Waterworks System $1,826,219 $1,820,520 $1,793,013 $1,619,243 $1,236,247
<br />Sewer System 1,449,361 1,380,427 1,334,847 1,043,986 824,164
<br />Miscellaneous 27.444 45,574 52,926 172,376 149.560
<br />TOTAL $3,303,024 $3,246,521 $3,180,786 $2,835,605 $2,209,971
<br />Expense
<br />Waterworks and Sewer
<br />System 1683 955 2 165 335 1733 648 1467 765 1 675 247
<br />TOTAL 1,683,955 2,165,335 1,733,648 1,467,765 1,675,247
<br />Net Available for
<br />Debt Service $1.619.069 $1.081. 186 $1.447,138 $1.367,840 $ 534,724
<br />Water Customers 6,226 6,164 6,060 5,904 5,602
<br />Sewer Customers 5,801 5,717 5,619 5,491 5,229
<br />
<br />Average Annual Principal and Interest Requirements on the Outstanding
<br />Waterworks and Sewer System Revenue Debt, 1988-2008 -_u__u__u_uu_uu_-_u_- $
<br />
<br />326,155*
<br />
<br />Coverage of Average Requirements at 9-30-87 --n--__--__u_-_u_u_----_u_----_u- "4.96 Times
<br />
<br />Maximum Principal and Interest Requirements, 1991 --u---_uU---_u_--u_-----u--- $
<br />
<br />472,408*
<br />
<br />Coverage of Maximum Requirements at 9-30-87 ----------U_U-------_u-u---_uuu
<br />Waterworks and Sewer System Revenue Debt Outstanding, 1-1-88u--u----------__un
<br />
<br />3.43 Times
<br />
<br />Interest and Sinking Fund, 9-30-87 -------------------------_uuU-_u_----_u__u_-
<br />
<br />$ 3,975,000"
<br />$
<br />$ 511 ,336
<br />$
<br />
<br />80,798
<br />
<br />Reserve Fund, 9-30-87------------------------------------ ------------------------
<br />
<br />Repair and Replacement Fund, 9-30-87 _n--u--u--__uu--_uu_------_uu_--_u-
<br />
<br />193,000
<br />
<br />* Includes Waterworks and Sewer System Revenue Bonds, Series 1988 selling February 17, 1988; excludes
<br />all tax supported bonds and certificates of obligation.
<br />
<br />COMPUTATION OF SELF-SUPPORTING DEBT
<br />
<br />Waterworks and Sewer System Debt
<br />
<br />Net Revenue from Waterworks and Sewer System, Fiscal Year Ended 9-30-87 -u_-----_u- $1,619,069
<br />Less: Average Annual Requirements for Outstanding Revenue Bonds 1988-2008 _u-------- 326.155*
<br />
<br />Balance Available for Other Purposes _U-uu_--u_Uun_uu_n__u_-u__u_------- $1,292,914
<br />Less: Average Annual Requirements for System General
<br />Obiigation Debt, 1988-2004 _u-u-u_------_u---------_u_--------u__uu_-- 848.750
<br />
<br />Balance ------------------------------------------------------------------------- $ 444,164
<br />
<br />Percentage of System General Obligation Debt Self-Supporting -_u_---------u_--------
<br />
<br />100.0096
<br />
<br />* Includes Waterworks and Sewer System Revenue Bonds, Series 1988 selHng February 17 1988. excludes
<br />all tax supported bonds and certificates of obligation. ' ,
<br />
<br />- 16 -
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