Pledged-Revenue Coverage Statistical Section Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2012

Pledged-Revenue Coverage
Last Ten Fiscal Years
(Expressed in Thousands)
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
University of Connecticut and Health Center²
Gross Revenues $- $1,311,797 $1,408,197 $1,476,058 $1,578,763 $1,577,646 $1,806,256 $1,786,129 $1,774,037 $1,975,204
Operating Expenses - 1,154,520 1,270,111 1,327,713 1,388,753 1,482,749 1,592,289 1,569,966 1,673,797 1,669,601
Net Available Revenues $- $157,277 $138,086 $148,345 $190,010 $94,897 $213,967 $216,163 $100,240 $305,603
Debt Service:
Principal $- $50,810 $57,660 $61,964 $69,921 $74,846 $76,148 $79,655 $95,962 $90,400
Interest - 10,198 11,158 13,032 15,901 15,897 52,307 53,523 52,730 49,723
Total $- $61,008 $68,818 $74,996 $85,822 $90,743 $128,455 $133,178 $148,692 $140,123
Coverage - 2.58 2.01 1.98 2.21 1.05 1.67 1.62 0.67 2.18
State Universities²
Gross Revenues $- $526,083 $529,180 $549,800 $580,879 $631,477 $629,832 $669,388 $702,729 $687,772
Operating Expenses - 432,163 464,940 496,923 529,744 568,197 589,022 599,792 588,571 589,972
Net Available Revenues $- $93,920 $64,240 $52,877 $51,135 $63,280 $40,810 $69,596 $114,158 $97,800
Debt Service:
Principal $- $68,312 $63,673 $16,294 $79,813 $18,669 $19,163 $18,976 $32,986 $69,526
Interest - - - - - - - - 11,851 11,572
Total $- $68,312 $63,673 $16,294 $79,813 $18,669 $19,163 $18,976 $44,837 $81,098
Coverage - 1.37 1.01 3.25 0.64 3.39 2.13 3.67 2.55 1.21
Bradley International Airport
Gross Revenues $56,286 $54,862 $60,618 $60,740 $63,314 $64,576 $57,027 $56,517 $64,066 $64,530
Operating Expenses 31,254 29,464 32,649 33,871 38,636 39,692 40,342 38,445 41,726 40,368
Net Available Revenues $25,032 $25,398 $27,969 $26,869 $24,678 $24,884 $16,685 $18,072 $22,340 $24,162
Debt Service:
Principal $5,775 $6,140 $8,780 $10,140 $8,430 $9,410 $9,605 $10,145 $172,075 $13,290
Interest 10,156 13,397 11,357 11,151 10,684 10,257 10,259 9,789 9,448 7,279
Total $15,931 $19,537 $20,137 $21,291 $19,114 $19,667 $19,864 $19,934 $181,523 $20,569
Coverage 1.57 1.30 1.39 1.26 1.29 1.27 0.84 0.91 0.12 1.17
Clean Water
Gross Revenues $50,566 $37,338 $47,439 $54,295 $55,955 $50,557 $52,232 $64,648 $59,714 $60,032
Operating Expenses 804 604 755 856 747 564 465 8,502 9,468 11,078
Net Available Revenues $49,762 $36,734 $46,684 $53,439 $55,208 $49,993 $51,767 $56,146 $50,246 $48,954
Debt Service:
Principal $27,050 $36,723 $38,207 $34,386 $62,192 $42,520 $46,897 $53,745 $67,310 $70,687
Interest 28,631 24,155 26,985 25,220 29,436 22,048 23,635 37,113 32,724 35,226
Total $55,681 $60,878 $65,192 $59,606 $91,628 $64,568 $70,532 $90,858 $100,034 $105,913
Coverage 0.89 0.60 0.72 0.90 0.60 0.77 0.73 0.62 0.50 0.46
Second Injury & Compensation Assurance¹
Gross Revenues $96,107 $99,687 $96,918 $- $- $- $- $- $- $-
Operating Expenses 48,100 44,793 55,821 - - - - - - -
Net Available Revenues $48,007 $54,894 $41,097 $- $- $- $- $- $- $-
Debt Service:
Principal $42,890 $56,875 $54,255 $- $- $- $- $- $- $-
Interest 7,455 5,274 2,454 - - - - - - -
Total $50,345 $62,149 $56,709 $- $- $- $- $- $- $-
Coverage 0.95 0.88 0.72 - - - - - - -
Bradley Parking Garage¹
Gross Revenues $20,474 $22,068 $23,351 $24,651 $23,168 $22,984 $20,375 $18,792 $21,076 $21,723
Operating Expenses 9,169 7,077 7,971 10,467 8,522 8,968 9,039 8,776 8,609 8,287
Net Available Revenues $11,305 $14,991 $15,380 $14,184 $14,646 $14,016 $11,336 $10,016 $12,467 $13,436
Debt Service:
Principal $- $- $1,885 $2,040 $2,210 $1,460 $1,550 $1,650 $1,755 $1,865
Interest 3,582 3,582 3,518 3,099 3,558 3,451 3,437 3,620 3,378 3,172
Total $3,582 $3,582 $5,403 $5,139 $5,768 $4,911 $4,987 $5,270 $5,133 $5,037
Coverage 3.16 4.19 2.85 2.76 2.54 2.85 2.27 1.90 2.43 2.67
Drinking Water¹
Gross Revenues $18,888 $9,205 $5,963 $10,187 $22,664 $17,164 $10,714 $14,714 $17,935 $9,706
Operating Expenses 1,946 1,508 1,743 3,391 2,570 2,576 4,184 7,068 8,802 5,032
Net Available Revenues $16,942 $7,697 $4,220 $6,796 $20,094 $14,588 $6,530 $7,646 $9,133 $4,674
Debt Service:
Principal $- $1,332 $1,513 $1,839 $3,209 $2,660 $2,718 $3,964 $4,055 $4,643
Interest 1,375 1,906 2,130 2,067 2,081 1,633 1,794 2,405 2,141 2,391
Total $1,375 $3,238 $3,643 $3,906 $5,290 $4,293 $4,512 $6,369 $6,196 $7,034
Coverage 12.32 2.38 1.16 1.74 3.80 3.40 1.45 1.20 1.47 0.66
Rate Reduction Bonds¹
Gross Revenues $- $- $23,075 $44,376 $32,417 $35,261 $18,319 $- $- $-
Operating Expenses - - 150 320 310 305 747 - - -
Net Available Revenues $- $- $22,925 $44,056 $32,107 $34,956 $17,572 $- $- $-
Debt Service:
Principal $- $- $12,605 $26,145 $27,155 $28,450 $110,990 $- $- $-
Interest - - 7,428 9,029 7,733 6,436 - - - -
Total $- $- $20,033 $35,174 $34,888 $34,886 $110,990 $- $- $-
Coverage - - 1.14 1.25 0.92 1.00 0.16 - - -

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. Drinking Water Bonds were issued in fiscal year 2001 and Rate Reduction Bonds were issued in fiscal year 2005 and retired in fiscal year 2010.

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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