Pledged-Revenue Coverage Statistical Section Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2006

State of Connecticut


Pledged-Revenue Coverage
Last Five Fiscal Years
(Expressed in Thousands)
  1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
University of Connecticut and Health Center2                    
Gross Revenues $- $- $- $- $- $- $- $1,311,797 $1,408,197 $1,476,058
Operating Expenses - - - - - - - 1,154,520 1,270,111 1,327,713
Net Available Revenues $- $- $- $- $- $- $- $157,277 $138,086 $148,345
Debt Service:                    
Principal $- $- $- $- $- $- $- $50,810 $57,660 $61,964
Interest - - - - - - - 10,198 11,158 13,032
Total $- $- $- $- $- $- $- $61,008 $68,818 $74,996
Coverage - - - - - - - 2.58 2.01 1.98
                   
State Universities2                    
Gross Revenues $- $- $- $- $- $- $- $526,083 $529,180 $549,800
Operating Expenses - - - - - - - 432,163 464,940 496,923
Net Available Revenues $- $- $- $- $- $- $- $93,920 $64,240 $52,877
Debt Service:                    
Principal $- $- $- $- $- $- $- $68,312 $63,673 $16,294
Interest - - - - - - - - - -
Total $- $- $- $- $- $- $- $68,312 $63,673 $16,294
Coverage - - - - - - - 1.37 1.01 3.25
                   
Bradley International Airport                    
Gross Revenues $38,794 $46,432 $48,133 $55,888 $53,364 $54,712 $56,286 $54,862 $60,618 $60,740
Operating Expenses 19,746 19,396 21,242 21,815 24,688 27,838 31,254 29,464 32,649 33,871
Net Available Revenues $19,048 $27,036 $26,891 $34,073 $28,676 $26,874 $25,032 $25,398 $27,969 $26,869
Debt Service:                    
Principal $2,820 $3,030 $3,240 $3,480 $6,785 $3,860 $5,775 $6,140 $8,780 $10,140
Interest 6,718 6,502 6,268 6,084 8,291 11,609 10,156 13,397 11,357 11,151
Total $9,538 $9,532 $9,508 $9,564 $15,076 $15,469 $15,931 $19,537 $20,137 $21,291
Coverage 2.00 2.84 2.83 3.56 1.90 1.74 1.57 1.30 1.39 1.26
                   
Clean Water                    
Gross Revenues $47,155 $47,388 $47,744 $48,285 $57,219 $48,471 $50,566 $37,338 $47,439 $54,295
Operating Expenses 1,175 398 1,019 1,133 1,320 986 804 604 755 856
Net Available Revenues $45,980 $46,990 $46,725 $47,152 $55,899 $47,485 $49,762 $36,734 $46,684 $53,439
Debt Service:                    
Principal $15,395 $18,725 $96,230 $22,630 $24,915 $31,040 $27,050 $36,723 $38,207 $34,386
Interest 21,914 25,348 24,378 29,607 28,179 29,917 28,631 24,155 26,985 25,220
Total $37,309 $44,073 $120,608 $52,237 $53,094 $60,957 $55,681 $60,878 $65,192 $59,606
Coverage 1.23 1.07 0.39 0.90 1.05 0.78 0.89 0.60 0.72 0.90
                   
Second Injury & Compensation Assurance1                    
Gross Revenues $266,565 $203,829 $160,270 $86,946 $106,629 $112,608 $96,107 $99,687 $96,918 $-
Operating Expenses 226,276 184,673 143,291 66,843 62,375 50,654 48,100 44,793 55,821 -
Net Available Revenues $40,289 $19,156 $16,979 $20,103 $44,254 $61,954 $48,007 $54,894 $41,097 $-
Debt Service:                    
Principal $- $33,940 $4,880 $30,100 $136,630 $50,830 $42,890 $56,875 $54,255 $-
Interest - 8,334 8,469 10,646 12,642 10,581 7,455 5,274 2,454 -
Total $- $42,274 $13,349 $40,746 $149,272 $61,411 $50,345 $62,149 $56,709 $-
Coverage - 0.45 1.27 0.49 0.30 1.01 0.95 0.88 0.72 -
Bradley Parking Garage1                    
Gross Revenues $- $- $- $- $- $17,498 $20,474 $22,068 $23,351 $24,651
Operating Expenses - - - - - 11,691 9,169 7,077 7,971 10,467
Net Available Revenues $- $- $- $- $- $5,807 $11,305 $14,991 $15,380 $14,184
Debt Service:                    
Principal $- $- $- $- $- $- $- $- $- $-
Interest - - - - - 3,575 3,582 3,582 3,518 3,099
Total $- $- $- $- $- $3,575 $3,582 $3,582 $3,518 $3,099
Coverage - - - - - 1.62 3.16 4.19 4.37 4.58
                   
Drinking Water1                    
Gross Revenues $- $- $- $- $13,637 $9,366 $18,888 $9,205 $5,963 $10,187
Operating Expenses - - - - 1,189 1,541 1,946 1,508 1,743 3,391
Net Available Revenues $- $- $- $- $12,448 $7,825 $16,942 $7,697 $4,220 $6,796
Debt Service:                    
Principal $- $- $- $- $- $- $- $1,332 $1,513 $1,839
Interest - - - - 115 1,375 1,375 1,906 2,130 2,067
Total $- $- $- $- $115 $1,375 $1,375 $3,238 $3,643 $3,906
Coverage - - - - 108.24 5.69 12.32 2.38 1.16 1.74
                   
Rate Reduction Bonds1                    
Gross Revenues $- $- $- $- $- $- $- $- $23,075 $44,376
Operating Expenses - - - - - - - - 150 320
Net Available Revenues $- $- $- $- $- $- $- $- $22,925 $44,056
Debt Service:                    
Principal $- $- $- $- $- $- $- $- $12,605 $26,145
Interest - - - - - - - - 7,428 9,029
Total $- $- $- $- $- $- $- $- $20,033 $35,174
Coverage - - - - - - - - 1.14 1.25

Note: Gross revenues include nonoperating revenue. Operating expenses include nonoperating expenses and exclude
depreciation and interest expenses. Revenues for Higher Education funds include transfers in. Revenues for Clean Water and Drinking Water bonds include federal grants.

1 Second Injury bonds were liquidated in fiscal year 2005. Bradley Parking Garage bonds were issued in fiscal year 2000. These bonds were reported as part of Bradley International Airport for fiscal years 2000 and 2001. Drinking Water Bonds were issued in fiscal year 2001 and Rate Reduction Bonds were issued in fiscal year 2005.

2 Starting in fiscal year 2004, the University of Connecticut and Health Center, the State Universities, and the Technical/Community Colleges funds were reported as separate Enterprise funds. In prior years, these funds were reported in the Higher Education fund, an Enterprise fund.

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