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<br /> CONDENSED STATEMENT OF OPERATIONS
<br /> WATERWORKS AND SEWER SYSTEM
<br />Fiscal Year Ended 9-30-87 9-30-86 9-30-8.5 9-30-81+ 9-30-83
<br /> (Unaudited)
<br />Revenue
<br />Waterworks System $1,826,219 $1,820,520 $1,793,013 $1,619,21+3 $1,236,21+7
<br />Sewer System 1,1+1+9,361 1,380,1+27 1,331+,81+7 1,01+3,986 821+,161+
<br />Miscellaneous 27 ,~/+~ 1+.5,.571+ .52,926 172,376 1~9,560
<br />TOTAL $3,303,021+ $3,2/+6,521 $3,180,786 $2,83.5,605 $2,209,971
<br />Expense
<br />Waterworks and Sewer
<br />System 1683 9.5.5 1 67.5 2/+7
<br />TOTAL 1,683,955 1,675,21+7
<br />Net Available for
<br />Debt Service $1.619.069 $1.081.186 $1.1+1+7.138 $1,367,81+0 $ 531+,724
<br />Water Customers 6,226 6,164 6,060 5,90/+ 5,602
<br />Sewer Customers .5 ,801 .5,717 5,619 .5,1+91 5,229
<br />
<br />A verage Annual Principal and Interest Requirements on the Outstanding
<br />Waterworks and Sewer System Revenue Debt, 1988-2008 ----------------------------- $
<br />
<br />326,1.5.5*
<br />
<br />Coverage of Average Requirements at 9-30-87 ---------------------------------------
<br />
<br />1+.96 Times
<br />
<br />Maximum Principal and Interest Requirements, 1991 ---------------------------------- $
<br />
<br />472,408*
<br />
<br />Coverage of Maximum Requirements at 9-30-87 --------------------------------------
<br />Waterworks and Sewer System Revenue Debt Outstanding, 1-1-88----------------------
<br />
<br />3.43 Times
<br />
<br />Reserve Fund, 9-30-87----------------------------------- -------------------------
<br />
<br />$ 3,97.5,000*
<br />$
<br />$ .511,336
<br />$
<br />
<br />80,798
<br />
<br />Interest and Sinking Fund, 9-30-87--------------------------------------------------
<br />
<br />Repair and Replacement Fund, 9-30-87 ---------------------------------------------
<br />
<br />193,000
<br />
<br />* Includes the Bonds selling February 17, 1988; excludes aU tax supported bonds and certificates of
<br />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 ------------- $1,619,069
<br />Less: Average Annual Requirements for Outstanding Revenue Bonds 1988-2008 ----------- 326.155*
<br />
<br />Balance Available for Other Purposes ------------------------------------------------ $1,292,911+
<br />Less: Average Annual Requirements for System General
<br />Obligation Debt, 1988-2004 --------------------------------------------------- &48.750
<br />
<br />Balance ------------------------------------------------------------------------- $
<br />
<br />444,161+
<br />
<br />Percentage of System General Obligation Debt Self-Supporting -------------------------
<br />
<br />100.0096
<br />
<br />* Includes the Bonds seHing February 17, 1988; excludes all general obligation bonds and combination tax
<br />and revenue certificates of obli~ation.
<br />
<br />- 7-
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