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<br />FINANCIAL INFORMA nON
<br />
<br />Waterworks and Sewer System Condensed Statement of Operations
<br />
<br /> 12 \\onths
<br /> Ended
<br /> August 3 J FÎscal Year Ended September 30,
<br /> 1988 1987 1986 985 1984
<br /> (Unaudited)
<br />REVENUE
<br />Waterworks System $2,197,729 $1,862,702 $1,820,520 $1,793,013 $1,619,21i3
<br />Sewer System 1,710,923 1,497,717 1,380,1i27 1,334,847 1,043,986
<br />Miscellaneous 25,661 32,286 45,571i 52,926 172,376
<br />TOTAL $3,934,313 $3,392,705 $3,246,521 $3,180,786 $2,835,605
<br />EXPENSE
<br />Waterworks and Sewer System 1467 765
<br />TOTAL 1,467,765
<br />NET AVAILABLE FOR DEBT
<br />SERVICE $2.086.081 $1.734,771i $1,081,186 $1,447,138 $1,367,840
<br />Water Customers N/A 6,226 6,164 6,060 5,904
<br />Sewer Customers N/A 5,801 5,717 5,619 5,491
<br />Coverage and FwxI Balances
<br />
<br />Average Annual Priñclpal and Interest Requirements, 1989-2008 -----------------------
<br />Coverage of Average Requirements by 1988 Net Income -__n----___------------------
<br />
<br />$1,260,177
<br />1.65 Times
<br />
<br />Maximum Principal and Interest Requirements, 1990 ------------------u-------------
<br />Coverage of Maximum Requirements by 1988 Net Income -----------------_-__n_____-
<br />
<br />Waterworks and Sewer System Revenue Bonds to be
<br />Outstanding after Issuance of These $2,660,000 Bonds -------------------------u_--
<br />
<br />$1,583,279
<br />1.31 Times
<br />
<br />Repair and Replacement Fund. 8-31-88 _u_------------------------u---------_u_-
<br />
<br />$6,645,000
<br />$ 503,&77
<br />$ 402,963
<br />$ 110,000
<br />
<br />Interest and Sinking Fund, 8-31-88 -------------------------------------------------
<br />
<br />
<br />Reserve Fund, 8-31-88 -----------------------------------------------------------
<br />
<br />Va!ue of the Systems.
<br /> 12 Months
<br /> Ended
<br /> Au~ust 31 Fiscal Year Ended September 30,
<br /> 1988 1987 1986 1985 1984
<br /> (Unaudited)
<br />Waterworks System $ 5,626,553 $ 5,302,440 $ 4,560,200 $ 3,197,063 $3,169,658
<br />Sewer System 9,833,147 9,463,512 8,352,851 7,117,672 3,359.613
<br />Total Value $15.459,700 $14,765,952 $12,913,051 $10,314,735 $6,529,271
<br />Reserve for Depreciation:
<br />Waterworks System $ 1,408,980 $ 1,242,092 $ 1,109,406 $ 1,075,569 $1,011,107
<br />Sewer System 1,661,639 1,405,490 1,237,789 1,119,470 1,062,922
<br />Total Depreciation $ 3,070,619 $ 2,6~7,582 $ 2,3~7, 195 $ 2,195,039 $2,074,029
<br />Value After Depreciation $12,389.081 $12,118,370 $10,565.856 $ 8,119,696 $4,455,2~2
<br />
<br />*Value of Systems includes land, buildings and system costs, but excludes all personal property costs.
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