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Historic Operating Results
<br />The following table 11 is a summary of audited operating results of the Water System for the last five
<br />Fiscal Years, and the unaudited estimates for Fiscal Year 2013/14. The auditor has not reviewed such
<br />statements in connection with their inclusion in this Official Statement, nor has the City requested such a
<br />review. Selected information from the aforementioned audited financial statements has been used to prepare the
<br />following four -year comparative summary of revenues and expenses. The results presented in the following
<br />summary are qualified in their entirety by reference to the respective annual consolidated audited financial
<br />statements of the City, including the notes thereto. Copies of the audited financial statements for the City can be
<br />obtained at the office of the City's Finance Director. Table 11 is the City's historical debt service coverage
<br />based upon "System Revenues" and "Maintenance and Operation Costs" as defined in the Installment Purchase
<br />Agreement.
<br />TABLE 11
<br />City of Santa Ana
<br />Historic Operating Results
<br />(Fiscal Year Ended June 30)
<br />Non- Operating Revenues (Expenses)
<br />Intergovernmental
<br />2010
<br />2011
<br />2012
<br />2013
<br />2014(')
<br />Operating Revenues:
<br />-
<br />(34,136)
<br />(4,999)
<br />(489,982)
<br />298,889
<br />Charges for Services
<br />$48,581,648
<br />$47,471,674
<br />$49,027,532
<br />$50,835,116
<br />$51,546,808
<br />Miscellaneous
<br />200.114
<br />311.755
<br />454456
<br />503.686
<br />510.738
<br />Total Operating Revenues
<br />$48,781,762
<br />$47,783,429
<br />$49,481,988
<br />$51,338,802
<br />$52,057,546
<br />Operating Expenses:
<br />$3,202,561
<br />$2,227,470
<br />$ 645,960
<br />($1,113,598)
<br />$ 4,529,730
<br />Personal Services
<br />$ 4,315,260
<br />$ 3,970,851
<br />$ 4,482,518
<br />$ 3,883,644
<br />$ 4,365,216
<br />Contractuat Services
<br />10,862,094
<br />10,486,225
<br />11,506,262
<br />11,027,568
<br />10,862,154
<br />Materials and Supplies
<br />10,969,682
<br />11,376,567
<br />13,653,137
<br />11,430,534
<br />16,951,482
<br />Other Services and Charges
<br />16,395,679
<br />16,727,496
<br />16,555,311
<br />15,215,619
<br />12,948,492
<br />Depreciation
<br />2.400.464
<br />2,355,524
<br />2.346.182
<br />2.276,297
<br />2.147 321
<br />Total Operating Expenses
<br />$44,943,179
<br />$44,916,663
<br />$48,543,41
<br />$43.833,662
<br />$47,274,665
<br />Operating Income (Loss)
<br />$ 3,838,583
<br />$ 2,866,766
<br />$ 938,578
<br />$ 7,505,140
<br />$ 4,782,881
<br />Non- Operating Revenues (Expenses)
<br />Intergovernmental
<br />-
<br />$ 85,096
<br />$ 390,077
<br />Net (decrease) in the Fair Value of Investment
<br />-
<br />(34,136)
<br />(4,999)
<br />(489,982)
<br />298,889
<br />Investment Earnings
<br />$ 147,549
<br />66,598
<br />49,499
<br />70,827
<br />84,851
<br />Interest Expense
<br />(7835711
<br />(7568541
<br />(727.195)
<br />(694443)
<br />(6368911
<br />Total Non - Operating Revenues (Expenses)
<br />($ 636,022
<br />639,296
<br />($ 292,618
<br />-
<br />(253 1511
<br />Income (Loss) Before Transfers
<br />$3,202,561
<br />$2,227,470
<br />$ 645,960
<br />($1,113,598)
<br />$ 4,529,730
<br />Transfers hi
<br />-
<br />-
<br />-
<br />-
<br />Transfers Out
<br />Net Income
<br />$ 3,202,561
<br />$ 2,227,470
<br />$ 645,960
<br />$ 6,391,542
<br />$ 4,529,730
<br />Net Assets - Beginning
<br />$67,240,440
<br />$70.443.001
<br />$72,670,471
<br />$73,3t6,431
<br />$79,707,973
<br />Net Assets - Ending
<br />$70 443.001
<br />$72 670 471
<br />$73,316,431
<br />$79 707 973
<br />$84,237,703
<br />(r) Unaudited esthnate,
<br />Source: City of Santa Ana Comprehensive Audited Financial Reports
<br />80A -174
<br />34
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