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<br /> ~qS
<br /> TIN Ai" C L -\L J?i'F 0 ill> fA TI 0 N
<br />Table 6 - Condensed St3.~meD.t of Oper:¡tiolLS(l)
<br /> For Fi=1 Y~Q" E.n~"¿ Se-:¡t=(x:- 30
<br />Rev~:.:es 1995 Ç) 199-! 1993 1992 1991
<br />Cb..&g:=.s for ~,'i= S 6,911,967 S 6,453,916 S 6,&.~,517 S 4,796,1040 S 4,717,3C-5
<br />fute:re.st Income and Oth~ 1.031.350 671.039 936.938 1.063.457 1213.057
<br />Total S 7.994,317 S 7.124.955 S 7.60l.455 S 5.359.697 S 5.930.353
<br />Exc<:'.5es
<br />Franc1:ús.e Ta.xes S 519,400 oS 4ï7)19 S 466..193 S 370,321 S I)
<br />P=r:nel Sen'i= 1,147,617 1,045,427 1,014,659 1,171,390 1,090..192
<br />Con t:r>....: bOO S <:rYi c.:=.s 1,859,167 1,523,455 1,134..156 816,127 579,535
<br />:Materials and Supplies 513,455 527,071 462,371 480,532 417,991
<br />Otb..:r Cb..&g::s 1.920288 1.599.406 1.365.146 769.679 563.02~
<br />Total S 5 974,927 S5.1ï2.588 S 4.492.715 S 3.608.050 oS 2.650.s...:3
<br />Net A'..ai.1able for Debt &r,'i~ S? t11 C) ";c)o S 1 Q'o ";67 S "; 1O~ 7";0 S? Î'1 647 S "; ?7c) ,1'1
<br />Me~~ Water Customers 6,144 6,030 5,929 5,921 5,8.:.\8
<br />:Meter~ Sewer Customers 5,807 5,710 5,616 5,593 5,560
<br />(1) Exclud:=.s depreciation e:--~ and &bt s....-rv'ice costs.
<br />(2) Unaudited.
<br />Table 7 - Co~'er3ge and Fund Ba!3nce.s(l)
<br />A~'erage A.n.ü.t:.3..l Principal and Int.e-.~c Requiremots, 1997-2016....................................................5 1,134,915
<br />Coverage of ..\serago:: R:=quiremots by 1995 Net bcomo:: .................................................................1.77 Ti.rnes
<br />Ma.xirnum ?7i..r:.cipal and bterest ReqUÏr=ots, - .................................................................5 1,964,1 ï2
<br />Cov~age of~fa.xirnum Requirem:::nts by 1995 Net Income..................................:........................... 1.03 Ti.¡TI~
<br />Water and Sew<=! Sys-~ Ro::v:::nue Bonds Oucstand.ir1g af'cer the lS,:,,'12..:lce of Bonds :.......................................... S 15,31O,C':ù
<br />Int.:rest and Sin:<ing FWld, 1-31-1996.............................................................................................................. S
<br />Res....-»rVe FWld., 1-31-1996 ............................................................................................................................. ... (2)
<br />(1) Estima~ includes the Bonds.
<br />(2) Curr:::nt œs<=rVe r:=qUÏr=ot satisfied .....ith a surety policy.
<br />Financial Administration
<br />Tho:: financial a.dministration of the City is vo::st.ed in the lX::',-a.."û:l:::nt ofFi.n.arl~. Tne d<=:,,-a..-rmot ofFirunce opcrates un:!..= the
<br />Direct ofFbance, who is appointd b>' the City ~f.aru.g,:r. R~ui!~ a.cti.,itie.s of the lX::'"aronenc of ž'Lnance arc control, ~~c.dy
<br />and disbu.rs....--:neTIt of City fuIIds, ass.--s.smeTIt and coUectiOQ of tax:=.s and i=ce of lic=s. Ot.'1e-: a.:ti~;tie.s of the IX-:'...a:-..:n:::nt
<br />of Finance Î.;:¡dud~ municipal court, utility billing and coUectiOD.S, Î.;:¡~ sen'ice fund opcration., ::.........=1 budget pre?ar"?¡jaa.
<br />B....1.d int.e-.im a::ld annual financial r~¡.Ñr...s.
<br />Financial Policiej
<br />Basis of A=u:J.lÎng". . . The City's accot.:rlting r=rds of the go~'e:umotal fuIld revenues and e;...-;:~djturO::3 ;"""e r.::.::o::"'.£'1 on
<br />the modified ac...--rual basis. Revo~ a=e r=gniz.ed in the accounting pciod in which they are available and m::2..>-.:...~b¡e.
<br />Exper.ditur:=.s are r=~d in the =t:..1.tirtg p<:riod in which the r..:..'1d liability occurred, if me.asurab!e, o::x~t for cr.:::z:ured
<br />int,:rcst on g:::n.:ral long-t= debt.
<br />Proprietary Fu:J.d revQUcs and c;...~s are rec.og:ni.z.ed on the: ¡i.ill a.ccru.=.l basis. Revoue:s are r=gn.i.zed in the =ctirtg
<br />~cd in w::ich thc:y are e:J.!11ed and ~me mea.::.-uIJ.ble. E;...~s are r=g:ni.z.ed iII the a.ccot:..'1ti.'1g ¡:<Ticd in which t.'::::y are:
<br />incu..-red.
<br />Fund BaJJ.n~ . . . It is the: City's policy regarding the ~::ru Fund and Enterprise Funds t..'1at working capital r=ur=
<br />should b<: I:la.:..:'!tained at a mini...-nu.-n of 12%..15% of the: Fun6' o~tirtg ex¡x-r.¿iture bu.:!get. Tr::: City mai..'1:.1.Í.'1S its ...a.-ious
<br />&bt S<..-n;ce funds in accor6n.ce .....itb. the cov=ts of r.:.'1e bocd or¿ina.o.~.
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