| BALLSTON PUBLIC PARKING GARAGE |
| OPERATING STATEMENT |
| FY 2004 PROPOSED |
|
|
|
|
|
|
|
|
FY 2002 |
FY 2003 |
FY
2003 |
FY
2004 |
|
|
ACTUALS |
ADOPTED |
ESTIMATED |
PROPOSED |
|
|
|
|
|
|
|
|
|
|
|
|
| ADJUSTED BALANCE, JULY 1 |
|
|
|
|
|
Debt Service Reserve Fund |
$3,345,000
|
$3,345,000
|
$3,345,000
|
$3,345,000
|
|
Operating & Maint.
Reserve |
2,000,000
|
2,000,000
|
2,000,000
|
2,000,000
|
|
Construction Reserve |
2,205,546
|
1,821,830
|
3,925,905
|
4,130,800
|
|
|
|
|
|
|
|
TOTAL BALANCE |
7,550,546 |
7,166,830 |
9,270,905 |
9,475,800 |
|
|
|
|
|
|
|
|
|
|
|
|
| REVENUE |
|
|
|
|
|
Interest |
237,422
|
300,000
|
300,000
|
300,000
|
|
Parking Revenue |
3,904,254 |
4,032,822
|
4,032,822
|
4,234,489
|
|
MCI Payments for spaces |
265,666
|
0 |
0 |
0 |
|
|
|
|
|
|
|
TOTAL REVENUE |
4,407,342 |
4,332,822 |
4,332,822 |
4,534,489 |
|
|
|
|
|
|
|
TOTAL REVENUE & BALANCE |
11,957,888 |
11,499,652 |
13,603,727 |
14,010,289 |
|
|
|
|
|
|
| EXPENSES |
|
|
|
|
|
Garage Operations |
1,707,138 |
1,904,427 |
1,904,427 |
1,948,698 |
|
Capital Replacement |
74,472
|
450,000
|
450,000
|
2,098,500
|
|
Debt Repayment and Debt
Service |
905,373
|
1,773,500
|
1,773,500
|
1,042,708
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
2,686,983 |
4,127,927 |
4,127,927 |
5,089,906 |
|
|
|
|
|
|
| BALANCE, JUNE 30 |
|
|
|
|
|
Debt Service Reserve Fund* |
3,345,000
|
3,345,000
|
3,345,000
|
3,345,000
|
|
Operating & Maint.
Reserve |
2,000,000
|
2,000,000
|
2,000,000
|
2,000,000
|
|
Construction Reserve |
3,925,905
|
2,026,725
|
4,130,800
|
3,575,383
|
|
|
|
|
|
|
|
TOTAL BALANCE |
$9,270,905 |
$7,371,725 |
$9,475,800 |
$8,920,383 |
|
|
|
|
|
|
|
|
|
|
|
|
| * |
The Debt Service Reserve Fund is a usual and customary
revenue bond requirement |
|
|
in order to provide
additional assurance to bond holders. |
|
|
|
|
