| BALLSTON PUBLIC PARKING GARAGE |
| OPERATING STATEMENT |
| FY 2005 PROPOSED |
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FY 2003 |
FY 2004 |
FY 2004 |
FY 2005 |
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ACTUALS |
ADOPTED |
ESTIMATED |
PROPOSED |
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| ADJUSTED BALANCE, JULY 1 |
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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
|
4,130,800
|
5,452,673
|
4,167,824
|
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TOTAL BALANCE |
9,270,905 |
9,475,800 |
10,797,673 |
9,512,824 |
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| REVENUE |
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Interest |
135,636
|
300,000
|
150,000
|
200,000
|
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Parking Revenue |
4,005,282
|
4,234,489
|
3,455,800
|
3,375,567
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|
MCI Payments for spaces |
0 |
0 |
0 |
0 |
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TOTAL REVENUE |
4,140,918 |
4,534,489 |
3,605,800 |
3,575,567 |
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TOTAL REVENUE &
BALANCE |
13,411,823 |
14,010,289 |
14,403,473 |
13,088,391 |
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| EXPENSES |
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Garage Operations |
1,769,501 |
1,948,698 |
1,927,149 |
2,455,974 |
|
Capital Replacement |
1,559
|
2,098,500 |
2,098,500 |
1,709,000
|
|
Debt Repayment and Debt
Service |
843,090
|
1,042,708
|
1,042,708
|
865,000
|
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TOTAL
EXPENSES |
2,614,150 |
5,089,906 |
5,068,357 |
5,029,974 |
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| BALANCE, JUNE 30 |
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Debt Service Reserve Fund* |
3,345,000
|
3,345,000
|
3,345,000
|
3,345,000
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|
Operating & Maint.
Reserve |
2,000,000
|
2,000,000
|
2,000,000
|
2,000,000
|
|
Construction Reserve |
5,452,673
|
3,893,438
|
4,167,824
|
2,713,417 |
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TOTAL BALANCE |
$10,797,673 |
$8,920,383
|
$9,512,824 |
$8,058,417 |
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| * |
The Debt Service Reserve Fund is a usual and customary
revenue bond requirement in order to provide additional assurance to bond
holders. |
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