| Pledged-Revenue Coverage | ||||||||||
| Last Ten Fiscal Years | ||||||||||
| (Expressed in Thousands) | ||||||||||
| 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|
| University of Connecticut and Health Center² | ||||||||||
| Gross Revenues | $- | $- | $- | $- | $- | $1,311,797 | $1,408,197 | $1,476,058 | $1,578,763 | $1,577,646 |
| Operating Expenses | - | - | - | - | - | 1,154,520 | 1,270,111 | 1,327,713 | 1,388,753 | 1,482,749 |
| Net Available Revenues | $- | $- | $- | $- | $- | $157,277 | $138,086 | $148,345 | $190,010 | $94,897 |
| Debt Service: | ||||||||||
| Principal | $- | $- | $- | $- | $- | $50,810 | $57,660 | $61,964 | $69,921 | $74,846 |
| Interest | - | - | - | - | - | 10,198 | 11,158 | 13,032 | 15,901 | 15,897 |
| Total | $- | $- | $- | $- | $- | $61,008 | $68,818 | $74,996 | $85,822 | $90,743 |
| Coverage | - | - | - | - | - | 2.58 | 2.01 | 1.98 | 2.21 | 1.05 |
| State Universities² | ||||||||||
| Gross Revenues | $- | $- | $- | $- | $- | $526,083 | $529,180 | $549,800 | $580,879 | $631,477 |
| Operating Expenses | - | - | - | - | - | 432,163 | 464,940 | 496,923 | 529,744 | 568,197 |
| Net Available Revenues | $- | $- | $- | $- | $- | $93,920 | $64,240 | $52,877 | $51,135 | $63,280 |
| Debt Service: | ||||||||||
| Principal | $- | $- | $- | $- | $- | $68,312 | $63,673 | $16,294 | $79,813 | $18,669 |
| Interest | - | - | - | - | - | - | - | - | - | - |
| Total | $- | $- | $- | $- | $- | $68,312 | $63,673 | $16,294 | $79,813 | $18,669 |
| Coverage | - | - | - | - | - | 1.37 | 1.01 | 3.25 | 0.64 | 3.39 |
| Bradley International Airport | ||||||||||
| Gross Revenues | $48,133 | $55,888 | $53,364 | $54,712 | $56,286 | $54,862 | $60,618 | $60,740 | $63,314 | $64,576 |
| Operating Expenses | 21,242 | 21,815 | 24,688 | 27,838 | 31,254 | 29,464 | 32,649 | 33,871 | 38,636 | 39,692 |
| Net Available Revenues | $26,891 | $34,073 | $28,676 | $26,874 | $25,032 | $25,398 | $27,969 | $26,869 | $24,678 | $24,884 |
| Debt Service: | ||||||||||
| Principal | $3,240 | $3,480 | $6,785 | $3,860 | $5,775 | $6,140 | $8,780 | $10,140 | $8,430 | $9,410 |
| Interest | 6,268 | 6,084 | 8,291 | 11,609 | 10,156 | 13,397 | 11,357 | 11,151 | 10,684 | 10,257 |
| Total | $9,508 | $9,564 | $15,076 | $15,469 | $15,931 | $19,537 | $20,137 | $21,291 | $19,114 | $19,667 |
| Coverage | 2.83 | 3.56 | 1.90 | 1.74 | 1.57 | 1.30 | 1.39 | 1.26 | 1.29 | 1.27 |
| Clean Water | ||||||||||
| Gross Revenues | $47,744 | $48,285 | $57,219 | $48,471 | $50,566 | $37,338 | $47,439 | $54,295 | $55,955 | $50,557 |
| Operating Expenses | 1,019 | 1,133 | 1,320 | 986 | 804 | 604 | 755 | 856 | 747 | 564 |
| Net Available Revenues | $46,725 | $47,152 | $55,899 | $47,485 | $49,762 | $36,734 | $46,684 | $53,439 | $55,208 | $49,993 |
| Debt Service: | ||||||||||
| Principal | $96,230 | $22,630 | $24,915 | $31,040 | $27,050 | $36,723 | $38,207 | $34,386 | $62,192 | $42,520 |
| Interest | 24,378 | 29,607 | 28,179 | 29,917 | 28,631 | 24,155 | 26,985 | 25,220 | 29,436 | 22,048 |
| Total | $120,608 | $52,237 | $53,094 | $60,957 | $55,681 | $60,878 | $65,192 | $59,606 | $91,628 | $64,568 |
| Coverage | 0.39 | 0.90 | 1.05 | 0.78 | 0.89 | 0.60 | 0.72 | 0.90 | 0.60 | 0.77 |
| Second Injury & Compensation Assurance¹ | ||||||||||
| Gross Revenues | $160,270 | $86,946 | $106,629 | $112,608 | $96,107 | $99,687 | $96,918 | $- | $- | $- |
| Operating Expenses | 143,291 | 66,843 | 62,375 | 50,654 | 48,100 | 44,793 | 55,821 | - | - | - |
| Net Available Revenues | $16,979 | $20,103 | $44,254 | $61,954 | $48,007 | $54,894 | $41,097 | $- | $- | $- |
| Debt Service: | ||||||||||
| Principal | $4,880 | $30,100 | $136,630 | $50,830 | $42,890 | $56,875 | $54,255 | $- | $- | $- |
| Interest | 8,469 | 10,646 | 12,642 | 10,581 | 7,455 | 5,274 | 2,454 | - | - | - |
| Total | $13,349 | $40,746 | $149,272 | $61,411 | $50,345 | $62,149 | $56,709 | $- | $- | $- |
| Coverage | 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 | $23,168 | $22,984 |
| Operating Expenses | - | - | - | 11,691 | 9,169 | 7,077 | 7,971 | 10,467 | 8,522 | 8,968 |
| Net Available Revenues | $- | $- | $- | $5,807 | $11,305 | $14,991 | $15,380 | $14,184 | $14,646 | $14,016 |
| Debt Service: | ||||||||||
| Principal | $- | $- | $- | $- | $- | $- | $1,885 | $2,040 | $2,210 | $1,460 |
| Interest | - | - | - | 3,575 | 3,582 | 3,582 | 3,518 | 3,099 | 3,558 | 3,451 |
| Total | $- | $- | $- | $3,575 | $3,582 | $3,582 | $5,403 | $5,139 | $5,768 | $4,911 |
| Coverage | - | - | - | 1.62 | 3.16 | 4.19 | 2.85 | 2.76 | 2.54 | 2.85 |
| Drinking Water¹ | ||||||||||
| Gross Revenues | $- | $- | $13,637 | $9,366 | $18,888 | $9,205 | $5,963 | $10,187 | $4,067 | $4,702 |
| Operating Expenses | - | - | 1,189 | 1,541 | 1,946 | 1,508 | 1,743 | 3,391 | 2,570 | 2,576 |
| Net Available Revenues | $- | $- | $12,448 | $7,825 | $16,942 | $7,697 | $4,220 | $6,796 | $1,497 | $2,126 |
| Debt Service: | ||||||||||
| Principal | $- | $- | $- | $- | $- | $1,332 | $1,513 | $1,839 | $3,209 | $2,660 |
| Interest | - | - | 115 | 1,375 | 1,375 | 1,906 | 2,130 | 2,067 | 2,081 | 1,633 |
| Total | $- | $- | $115 | $1,375 | $1,375 | $3,238 | $3,643 | $3,906 | $5,290 | $4,293 |
| Coverage | - | - | 108.24 | 5.69 | 12.32 | 2.38 | 1.16 | 1.74 | 0.28 | 0.50 |
| Rate Reduction Bonds¹ | ||||||||||
| Gross Revenues | $- | $- | $- | $- | $- | $- | $23,075 | $44,376 | $32,417 | $35,261 |
| Operating Expenses | - | - | - | - | - | - | 150 | 320 | 310 | 305 |
| Net Available Revenues | $- | $- | $- | $- | $- | $- | $22,925 | $44,056 | $32,107 | $34,956 |
| Debt Service: | ||||||||||
| Principal | $- | $- | $- | $- | $- | $- | $12,605 | $26,145 | $27,155 | $28,450 |
| Interest | - | - | - | - | - | - | 7,428 | 9,029 | 7,733 | 6,436 |
| Total | $- | $- | $- | $- | $- | $- | $20,033 | $35,174 | $34,888 | $34,886 |
| Coverage | - | - | - | - | - | - | 1.14 | 1.25 | 0.92 | 1.00 |
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.