Pledged-Revenue Coverage
Last Ten Fiscal Years
(Expressed in Thousands)
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
University of Connecticut and Health Center
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 $1,814,856
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 1,738,237
Net Available Revenues $157,277 $138,086 $148,345 $190,010 $94,897 $213,967 $216,163 $100,240 $305,603 $76,619
Debt Service:
Principal $50,810 $57,660 $61,964 $69,921 $74,846 $76,148 $79,655 $95,962 $90,400 $61,905
Interest 10,198 11,158 13,032 15,901 15,897 52,307 53,523 52,730 49,723 52,254
Total $61,008 $68,818 $74,996 $85,822 $90,743 $128,455 $133,178 $148,692 $140,123 $114,159
Coverage 2.58 2.01 1.98 2.21 1.05 1.67 1.62 0.67 2.18 0.67
State Universities
Gross Revenues $526,083 $529,180 $549,800 $580,879 $631,477 $629,832 $669,388 $702,729 $687,772 $722,893
Operating Expenses 432,163 464,940 496,923 529,744 568,197 589,022 599,792 588,571 589,972 603,660
Net Available Revenues $93,920 $64,240 $52,877 $51,135 $63,280 $40,810 $69,596 $114,158 $97,800 $119,233
Debt Service:
Principal $68,312 $63,673 $16,294 $79,813 $18,669 $19,163 $18,976 $32,986 $69,526 $16,211
Interest - - - - - - - 11,851 11,572 10,300
Total $68,312 $63,673 $16,294 $79,813 $18,669 $19,163 $18,976 $44,837 $81,098 $26,511
Coverage 1.37 1.01 3.25 0.64 3.39 2.13 3.67 2.55 1.21 4.50
Bradley International Airport
Gross Revenues $54,862 $60,618 $60,740 $63,314 $64,576 $57,027 $56,517 $64,066 $64,530 $64,098
Operating Expenses 29,464 32,649 33,871 38,636 39,692 40,342 38,445 41,726 40,368 43,604
Net Available Revenues $25,398 $27,969 $26,869 $24,678 $24,884 $16,685 $18,072 $22,340 $24,162 $20,494
Debt Service:
Principal $6,140 $8,780 $10,140 $8,430 $9,410 $9,605 $10,145 $172,075 $13,290 $14,245
Interest 13,397 11,357 11,151 10,684 10,257 10,259 9,789 9,448 7,279 6,106
Total $19,537 $20,137 $21,291 $19,114 $19,667 $19,864 $19,934 $181,523 $20,569 $20,351
Coverage 1.30 1.39 1.26 1.29 1.27 0.84 0.91 0.12 1.17 1.01
Clean Water
Gross Revenues $37,338 $47,439 $54,295 $55,955 $50,557 $52,232 $64,648 $59,714 $60,032 $77,527
Operating Expenses 604 755 856 747 564 465 8,502 9,468 11,078 10,971
Net Available Revenues $36,734 $46,684 $53,439 $55,208 $49,993 $51,767 $56,146 $50,246 $48,954 $66,556
Debt Service:
Principal $36,723 $38,207 $34,386 $62,192 $42,520 $46,897 $53,745 $67,310 $70,687 $70,578
Interest 24,155 26,985 25,220 29,436 22,048 23,635 37,113 32,724 35,226 33,057
Total $60,878 $65,192 $59,606 $91,628 $64,568 $70,532 $90,858 $100,034 $105,913 $103,635
Coverage 0.60 0.72 0.90 0.60 0.77 0.73 0.62 0.50 0.46 0.64
Second Injury & Compensation Assurance¹
Gross Revenues $99,687 $96,918 $- $- $- $- $- $- $- $-
Operating Expenses 44,793 55,821 - - - - - - - -
Net Available Revenues $54,894 $41,097 $- $- $- $- $- $- $- $-
Debt Service:
Principal $56,875 $54,255 $- $- $- $- $- $- $- $-
Interest 5,274 2,454 - - - - - - - -
Total $62,149 $56,709 $- $- $- $- $- $- $- $-
Coverage 0.88 0.72 - - - - - - - -
Bradley Parking Garage
Gross Revenues $22,068 $23,351 $24,651 $23,168 $22,984 $20,375 $18,792 $21,076 $21,723 $23,029
Operating Expenses 7,077 7,971 10,467 8,522 8,968 9,039 8,776 8,609 8,287 9,140
Net Available Revenues $14,991 $15,380 $14,184 $14,646 $14,016 $11,336 $10,016 $12,467 $13,436 $13,889
Debt Service:
Principal $- $1,885 $2,040 $2,210 $1,460 $1,550 $1,650 $1,755 $1,865 $1,990
Interest 3,582 3,518 3,099 3,558 3,451 3,437 3,620 3,378 3,172 3,218
Total $3,582 $5,403 $5,139 $5,768 $4,911 $4,987 $5,270 $5,133 $5,037 $5,208
Coverage 4.19 2.85 2.76 2.54 2.85 2.27 1.90 2.43 2.67 2.67
Drinking Water
Gross Revenues $9,205 $5,963 $10,187 $22,664 $17,164 $10,714 $14,714 $17,935 $9,706 $12,786
Operating Expenses 1,508 1,743 3,391 2,570 2,576 4,184 7,068 8,802 5,032 5,601
Net Available Revenues $7,697 $4,220 $6,796 $20,094 $14,588 $6,530 $7,646 $9,133 $4,674 $7,185
Debt Service:
Principal $1,332 $1,513 $1,839 $3,209 $2,660 $2,718 $3,964 $4,055 $4,643 $4,952
Interest 1,906 2,130 2,067 2,081 1,633 1,794 2,405 2,141 2,391 2,163
Total $3,238 $3,643 $3,906 $5,290 $4,293 $4,512 $6,369 $6,196 $7,034 $7,115
Coverage 2.38 1.16 1.74 3.80 3.40 1.45 1.20 1.47 0.66 1.01
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. Rate Reduction Bonds were issued in fiscal year 2005 and retired in fiscal year 2010.