LOS ANGELES COUNTY SANITATION DISTRICTS
DISTRICTS HISTORICAL AND PROJECTED OPERATING DATA ($000)
Historical Operating Data
Projected Operating Data Projected Operating Data
DISTRICT NO. 17 Fiscal Year
2008/09 Fiscal Year
2009/10 Fiscal Year
2010/11 Fiscal Year
2011/12 Fiscal Year
2012/13 Fiscal Year
2013/14 Fiscal Year
2014/15 Fiscal Year
2015/16 Fiscal Year
2016/17 Fiscal Year 2017/18 REVENUE SOURCES
A.V. Tax 450 430 411 426 420 422 429 435 442 448 Service Charge 1,686 1,774 2,018 2,042 2,084 2,032 2,075 2,119 2,163 2,207 Industrial Waste 46 48 48 49 47 43 43 44 44 45 Contract 112 106 303 159 107 113 133 138 144 150 Interest 307 197 170 110 69 64 63 60 61 61 Rate Stabilization Fund 0 0 0 0 0 0 0 0 0 0 Miscellaneous 21 27 25 22 8 24 24 24 24 24 Subtotal 2,622 2,582 2,975 2,808 2,735 2,698 2,767 2,820 2,878 2,934
Connection Fees 15 14 14 14 14 8 8 8 8 8
Revenue for Sr Debt 2,637 2,596 2,989 2,822 2,749 2,706 2,776 2,829 2,886 2,943 Connection Fees 122 133 108 104 76 8 8 8 8 8 Revenue for Sub Debt 2,744 2,715 3,083 2,912 2,811 2,706 2,776 2,829 2,886 2,943
EXPENSES
Total O&M 1,860 1,774 1,768 1,778 1,777 1,882 1,960 2,026 2,093 2,157 Rate Stabilization Fund 200 243 640 435 0 0 0 0 0 0 Total Expenses 2,060 2,017 2,408 2,213 1,777 1,882 1,960 2,026 2,093 2,157
DEBT SERVICE Senior AV
Bonds 284 284 283 278 276 276 274 274 273 274
State Loans 30 30 30 30 30 0 0 0 0 0
Senior Revenue
State Loans 146 148 147 179 142 139 139 129 129 129 Total Senior Debt Service 460 462 460 487 448 415 413 403 402 403
Subordinate Revenue
Bonds
State Loans 21 25 22 26 33 33 33 33 40 69
Total Debt Service 484 487 482 513 481 448 446 436 442 472
SENIOR DEBT COVERAGE 1.20 1.20 1.22 1.20 2.10 1.90 1.89 1.91 1.87 1.78 SUBORDINATE DEBT COVERAGE 1.41 1.43 1.40 1.36 2.15 1.84 1.83 1.84 1.79 1.66
66
Table 13 (continued)
DISTRICTS HISTORICAL AND PROJECTED OPERATING DATA ($000)
Historical Operating Data Projected Operating Data
DISTRICT NO. 18 Fiscal Year
2008/09 Fiscal Year
2009/10 Fiscal Year
2010/11 Fiscal Year
2011/12 Fiscal Year
2012/13 Fiscal Year
2013/14 Fiscal Year
2014/15 Fiscal Year
2015/16 Fiscal Year
2016/17 Fiscal Year 2017/18 REVENUE SOURCES
A.V. Tax 3,130 2,830 2,749 2,784 3,488 2,989 3,034 3,080 3,125 3,171 Service Charge 14,735 16,127 18,052 17,527 18,278 18,274 18,763 19,253 19,743 20,233 Industrial Waste 2,885 3,623 3,561 3,972 4,094 3,987 4,018 4,058 4,099 4,140 Contract 1,019 959 2,784 1,486 1,061 1,059 1,247 1,297 1,349 1,403 Interest 1,710 944 902 575 372 348 341 329 337 355 Rate Stabilization Fund 0 1,365 0 0 0 0 0 0 0 0 Miscellaneous 196 243 228 203 76 218 218 218 218 218 Subtotal 23,675 26,091 28,276 26,547 27,369 26,875 27,621 28,234 28,870 29,518
Connection Fees 136 129 127 128 128 151 151 151 151 151 Revenue for Sr Debt 23,811 26,220 28,403 26,675 27,497 27,027 27,773 28,285 29,022 29,670
Connection Fees 1,209 1,316 1,102 1,100 814 151 151 151 151 151 Revenue for Sub Debt 24,884 27,407 29,378 27,647 28,183 27,027 27,773 28,285 29,022 29,670
EXPENSES
Total O&M 17,580 16,853 17,193 17,713 17,113 18,755 19,513 20,171 20,822 21,464 Rate Stabilization Fund 697 0 3,419 70 0 0 0 0 0 0 Total Expenses 18,277 16,853 20,612 17,783 17,113 18,755 19,513 20,171 20,822 21,464
DEBT SERVICE Senior AV
Bonds 1,948 1,948 1,942 1,908 1,893 1,892 1,877 1,876 1,874 1,877 State Loans 283 283 281 283 277 0 0 0 0 0 Senior Revenue
State Loans 1,319 1,315 1,349 1,376 1,291 1,307 1,307 1,208 1,208 1,208 Total Senior Debt Service 3,550 3,546 3,572 3,567 3,461 3,199 3,184 3,083 3,082 3,084
Subordinate Revenue
Bonds
State Loans 213 226 207 241 304 308 308 308 375 648 Total Debt Service 3,763 3,772 3,779 3,808 3,765 3,507 3,492 3,391 3,456 3,732 SENIOR DEBT COVERAGE 1.50 2.58 2.12 2.43 2.91 2.49 2.50 2.56 2.54 2.45 SUBORDINATE DEBT COVERAGE 1.76 2.80 2.32 2.59 2.94 2.36 2.37 2.42 2.37 2.20
67
Table 13 (continued)
DISTRICTS HISTORICAL AND PROJECTED OPERATING DATA ($000)
Historical Operating Data Projected Operating Data
DISTRICT NO. 19 Fiscal Year
2008/09 Fiscal Year
2009/10 Fiscal Year
2010/11 Fiscal Year
2011/12 Fiscal Year
2012/13 Fiscal Year
2013/14 Fiscal Year
2014/15 Fiscal Year
2015/16 Fiscal Year
2016/17 Fiscal Year 2017/18 REVENUE SOURCES
A.V. Tax 1,032 963 945 1,023 1,198 1,027 1,042 1,058 1,073 1,089 Service Charge 4,254 5,050 5,480 5,596 5,662 5,662 5,774 5,886 5,998 6,110 Industrial Waste 227 309 282 355 327 319 322 325 329 332 Contract 275 258 751 407 261 297 350 364 378 393 Interest 590 349 305 209 142 129 127 121 123 127 Rate Stabilization Fund 0 0 0 0 0 0 0 0 0 0 Miscellaneous 51 66 63 56 22 59 59 59 59 59 Subtotal 6,429 6,995 7,826 7,646 7,611 7,492 7,673 7,813 7,960 8,110
Connection Fees 37 35 35 35 35 13 13 13 13 13 Revenue for Sr Debt 6,466 7,030 7,861 7,681 7,646 7,505 7,687 7,826 7,974 8,124
Connection Fees 304 319 289 285 183 13 13 13 13 13 Revenue for Sub Debt 6,733 7,314 8,115 7,931 7,794 7,505 7,687 7,826 7,974 8,124
EXPENSES
Total O&M 4,826 4,447 4,647 5,016 4,736 5,323 5,536 5,716 5,896 6,074 Rate Stabilization Fund 310 1,250 1,471 637 0 0 0 0 0 0 Total Expenses 5,136 5,697 6,118 5,653 4,736 5,323 5,536 5,716 5,896 6,074
DEBT SERVICE Senior AV
Bonds 628 628 626 615 610 610 605 605 604 605
State Loans 77 77 77 78 78 0 0 0 0 0
Senior Revenue
State Loans 356 354 369 377 365 367 367 339 339 339 Total Senior Debt Service 1,061 1,059 1,072 1,070 1,053 977 972 944 943 944
Subordinate Revenue
Bonds
State Loans 58 61 57 66 86 87 87 87 105 182 Total Debt Service 1,119 1,120 1,129 1,136 1,139 1,064 1,059 1,030 1,049 1,126 SENIOR DEBT COVERAGE 1.20 1.20 1.57 1.83 2.68 2.14 2.12 2.14 2.09 1.98 SUBORDINATE DEBT COVERAGE 1.43 1.44 1.77 2.01 2.69 2.05 2.03 2.05 1.98 1.82
68
Table 13 (continued)
DISTRICTS HISTORICAL AND PROJECTED OPERATING DATA ($000)
Historical Operating Data Projected Operating Data
DISTRICT NO. 20 Fiscal Year
2008/09 Fiscal Year
2009/10 Fiscal Year
2010/11 Fiscal Year
2011/12 Fiscal Year
2012/13 Fiscal Year
2013/14 Fiscal Year
2014/15 Fiscal Year
2015/16 Fiscal Year
2016/17 Fiscal Year 2017/18 REVENUE SOURCES
A.V. Tax 1,134 3,401 952 973 607 818 830 843 855 867 Service Charge 10,842 13,382 16,111 17,598 19,652 22,099 22,527 22,871 23,215 23,560 Industrial Waste 151 176 257 292 308 339 345 349 353 357 Contract 274 279 753 413 29 241 240 247 259 268 Interest 3,260 988 544 277 96 94 95 98 106 111 Rate Stabilization Fund 0 0 0 0 0 0 0 0 0 0
Miscellaneous 2 0 (14) (4) 0 0 0 0 0 0
Subtotal 15,663 18,226 18,603 19,549 20,693 23,591 24,037 24,408 24,789 25,163 Connection Fees 2,149 3,648 3,863 3,832 941 80 80 80 80 80 Revenue for Sr Debt 17,812 21,874 22,466 23,381 21,634 23,672 24,118 24,488 24,869 25,243
Connection Fees 647 258 587 476 941 80 80 80 80 80 Revenue for Sub Debt 16,310 18,484 19,190 20,025 21,634 23,672 24,118 24,488 24,869 25,243
EXPENSES
Total O&M 6,636 6,164 6,388 8,855 9,096 9,957 10,434 10,731 11,075 11,533 Rate Stabilization Fund 670 3,310 3,310 1,500 0 0 0 0 0 0 Total Expenses 7,306 9,474 9,698 10,355 9,096 9,957 10,434 10,731 11,075 11,533
DEBT SERVICE Senior AV
Bonds 398 398 397 389 387 387 383 383 383 383
State Loans 0 0 0 0 0 0 0 0 0
Senior Revenue State Loans
Total Senior Debt Service 398 398 397 389 387 387 383 383 383 383
Subordinate Revenue
Bonds 7,759 7,760 8,270 8,391 8,392 8,389 8,391 8,391 8,393 8,391 State Loans 0 0 0 0 0 3,696 3,696 3,696 3,696 3,696 Total Debt Service 8,157 8,158 8,667 8,780 8,779 12,472 12,471 12,470 12,472 12,471 SENIOR DEBT COVERAGE 6.90 11.66 11.33 11.92 10.71 4.21 4.16 4.36 4.45 4.24 SUBORDINATE DEBT COVERAGE 1.10 1.10 1.10 1.10 1.43 1.10 1.10 1.10 1.11 1.10
69
Table 13 (continued)
DISTRICTS HISTORICAL AND PROJECTED OPERATING DATA ($000)
Historical Operating Data Projected Operating Data
DISTRICT NO. 21 Fiscal Year
2008/09 Fiscal Year
2009/10 Fiscal Year
2010/11 Fiscal Year
2011/12 Fiscal Year
2012/13 Fiscal Year
2013/14 Fiscal Year
2014/15 Fiscal Year
2015/16 Fiscal Year
2016/17 Fiscal Year 2017/18 REVENUE SOURCES
A.V. Tax 3,649 3,298 3,128 3,332 3,460 3,357 3,407 3,458 3,509 3,560 Service Charge 17,460 19,525 21,291 20,921 22,069 22,019 22,914 23,810 24,705 25,601 Industrial Waste 3,601 4,318 3,840 3,838 3,630 3,626 3,662 3,699 3,736 3,773 Contract 1,626 3,080 3,602 1,903 1,414 1,348 1,575 1,638 1,704 1,772 Interest 2,366 1,367 1,221 847 609 499 484 472 470 501 Rate Stabilization Fund 1,185 0 0 0 0 0 0 0 0 Miscellaneous 229 301 278 251 93 265 265 265 265 265 Subtotal 30,116 31,889 33,360 31,092 31,276 31,113 32,307 33,342 34,389 35,472
Connection Fees 171 156 154 155 155 73 73 73 73 73 Revenue for Sr Debt 30,287 32,045 33,514 31,247 31,431 31,187 32,381 33,415 34,462 35,546
Connection Fees 1,495 1,696 1,424 1,325 922 73 73 73 73 73 Revenue for Sub Debt 31,611 33,585 34,784 32,417 32,198 31,187 32,381 33,415 34,462 35,546
EXPENSES
Total O&M 21,324 19,802 20,251 20,953 20,295 22,366 23,131 23,910 24,690 25,454 Rate Stabilization Fund 0 1,784 4,254 1,286 0 0 0 0 0 0 Total Expenses 21,324 21,586 24,505 22,239 20,295 22,366 23,131 23,910 24,690 25,454
DEBT SERVICE Senior AV
Bonds 2,101 2,100 2,094 2,057 2,042 2,040 2,024 2,023 2,021 2,024 State Loans 344 334 342 344 339 0 0 0 0 0 Senior Revenue
State Loans 1,634 1,594 1,641 1,669 1,580 1,580 1,580 1,460 1,460 1,460 Total Senior Debt Service 4,079 4,038 4,077 4,070 3,961 3,621 3,604 3,483 3,481 3,484
Subordinate Revenue
Bonds
State Loans 258 274 252 293 373 373 373 373 453 783 Total Debt Service 4,337 4,312 4,329 4,363 4,334 3,993 3,977 3,856 3,934 4,267 SENIOR DEBT COVERAGE 2.13 2.52 2.15 2.14 2.72 2.33 2.46 2.62 2.68 2.67 SUBORDINATE DEBT COVERAGE 2.37 2.78 2.37 2.33 2.75 2.21 2.33 2.47 2.48 2.37
70
Table 13 (continued)
DISTRICTS HISTORICAL AND PROJECTED OPERATING DATA ($000)
Historical Operating Data Projected Operating Data
DISTRICT NO. 22 Fiscal Year
2008/09 Fiscal Year
2009/10 Fiscal Year
2010/11 Fiscal Year
2011/12 Fiscal Year
2012/13 Fiscal Year
2013/14 Fiscal Year
2014/15 Fiscal Year
2015/16 Fiscal Year
2016/17 Fiscal Year 2017/18 REVENUE SOURCES
A.V. Tax 3,032 2,838 2,718 2,783 3,317 2,955 2,999 3,044 3,089 3,134 Service Charge 14,582 16,077 17,531 17,683 18,451 18,441 18,821 19,201 19,582 19,963 Industrial Waste 3,033 2,903 4,065 3,651 3,494 3,468 3,503 3,538 3,573 3,609 Contract 1,072 1,504 2,866 1,530 1,100 1,114 1,307 1,360 1,414 1,471 Interest 1,930 1,051 1,031 726 451 423 417 405 412 430 Rate Stabilization Fund 0 0 0 0 0 0 0 0 0 0 Miscellaneous 192 250 245 233 79 230 230 230 230 230 Subtotal 23,841 24,623 28,456 26,606 26,893 26,632 27,278 27,778 28,300 28,837
Connection Fees 146 129 128 128 128 249 249 249 249 249 Revenue for Sr Debt 23,987 24,752 28,584 26,734 27,021 26,881 27,527 28,028 28,549 29,086
Connection Fees 1,247 1,407 1,203 1,356 888 249 249 249 249 249 Revenue for Sub Debt 25,088 26,030 29,659 27,962 27,781 26,881 27,527 28,028 28,549 29,086
EXPENSES
Total O&M 18,125 16,438 17,210 17,559 17,502 18,990 19,799 20,473 21,146 21,801 Rate Stabilization Fund 1,450 2,830 3,665 2,239 0 0 0 0 0 0 Total Expenses 19,575 19,268 20,875 19,798 17,502 18,990 19,799 20,473 21,146 21,801
DEBT SERVICE Senior AV
Bonds 1,818 1,817 1,812 1,780 1,767 1,766 1,752 1,751 1,749 1,751 State Loans 284 284 283 284 289 0 0 0 0 0 Senior Revenue
State Loans 1,378 1,327 1,359 1,379 1,344 1,341 1,341 1,239 1,240 1,240 Total Senior Debt Service 3,480 3,428 3,454 3,443 3,400 3,107 3,093 2,990 2,989 2,991
Subordinate Revenue
Bonds
State Loans 214 227 208 242 317 316 316 316 384 664 Total Debt Service 3,694 3,655 3,662 3,685 3,717 3,423 3,408 3,306 3,372 3,654 SENIOR DEBT COVERAGE 1.21 1.53 2.17 1.94 2.71 2.44 2.40 2.42 2.35 2.21 SUBORDINATE DEBT COVERAGE 1.49 1.85 2.40 2.22 2.77 2.31 2.27 2.28 2.20 1.99
71
Table 13 (continued)
PARTICIPATING DISTRICTS HISTORICAL AND PROJECTED OPERATING DATA ($000)
Historical Operating Data Projected Operating Data
DISTRICT NO. 23 Fiscal Year
2008/09 Fiscal Year
2009/10 Fiscal Year
2010/11 Fiscal Year
2011/12 Fiscal Year
2012/13 Fiscal Year
2013/14 Fiscal Year
2014/15 Fiscal Year
2015/16 Fiscal Year
2016/17 Fiscal Year 2017/18 REVENUE SOURCES
A.V. Tax 279 316 282 309 329 323 328 333 337 342 Service Charge 289 319 368 372 382 386 393 399 406 413 Industrial Waste 3,111 3,137 3,553 3,572 3,518 3,578 3,530 3,671 3,818 3,970 Contract 195 156 487 222 158 154 181 189 196 204 Interest 599 386 311 201 184 111 109 105 106 108 Rate Stabilization Fund 245 0 0 0 0 0 0 0 0 0 Miscellaneous 28 40 37 30 11 34 34 34 34 34 Subtotal 4,746 4,354 5,038 4,706 4,582 4,585 4,574 4,730 4,897 5,071
Connection Fees 28 21 21 19 19 4 4 4 4 4
Revenue for Sr Debt 4,774 4,375 5,059 4,725 4,601 4,589 4,578 4,734 4,901 5,075 Connection Fees 242 189 154 142 92 4 4 4 4 4 Revenue for Sub Debt 4,988 4,543 5,192 4,848 4,674 4,489 4,578 4,734 4,901 5,075
EXPENSES
Total O&M 3,925 3,264 3,431 3,340 3,193 3,426 3,551 3,680 3,795 3,910 Rate Stabilization Fund 0 305 815 600 0 0 0 0 0 0 Total Expenses 3,925 3,569 4,246 3,940 3,193 3,426 3,551 3,680 3,795 3,910
DEBT SERVICE Senior AV
Bonds 384 384 383 376 373 373 370 370 369 370
State Loans 42 42 46 42 41 0 0 0 0 0
Senior Revenue
State Loans 253 217 218 205 193 190 190 176 176 176 Total Senior Debt Service 679 643 647 623 607 563 560 546 545 546
Subordinate Revenue
Bonds
State Loans 34 37 34 36 45 45 45 45 55 94
Total Debt Service 713 680 681 659 652 608 605 590 600 640
SENIOR DEBT COVERAGE 1.20 1.20 1.20 1.20 2.25 1.99 1.75 1.85 1.93 1.96 SUBORDINATE DEBT COVERAGE 1.49 1.43 1.39 1.38 2.27 1.91 1.70 1.78 1.84 1.82
72
Table 13 (continued)
PARTICIPATING DISTRICTS HISTORICAL AND PROJECTED OPERATING DATA ($000)
Historical Operating Data Projected Operating Data
DISTRICT NO. 27 Fiscal Year
2008/09 Fiscal Year
2009/10 Fiscal Year
2010/11 Fiscal Year
2011/12 Fiscal Year
2012/13 Fiscal Year
2013/14 Fiscal Year
2014/15 Fiscal Year
2015/16 Fiscal Year
2016/17 Fiscal Year 2017/18 REVENUE SOURCES
A.V. Tax 249 252 244 252 273 277 281 285 290 294
Service Charge 0 0 0 0 0 0 0 0 0 0
Industrial Waste 0 0 0 0 0 0 0 0 0 0
Contract 1 1 3 1 0 0 0 0 0 0
Interest 50 33 30 18 7 16 15 16 17 17
Rate Stabilization Fund 0 0 0 0 0 0 0 0 0 0
Miscellaneous 0 0 0 0 0 0 0 0 0 0
Subtotal 300 286 277 271 280 293 296 301 307 311
Connection Fees 0 0 0 0 0 0 0 0 0 0
Revenue for Sr Debt 300 286 277 271 280 293 296 301 307 311
Connection Fees 0 0 0 0 0 0 0 0 0 0
Revenue for Sub Debt 300 286 277 271 280 293 296 301 307 311
EXPENSES
Total O&M 105 99 116 154 161 94 97 101 104 108 Rate Stabilization Fund 116 108 82 40 0 0 0 0 0 0
Total Expenses 221 207 198 194 161 94 97 101 104 108
DEBT SERVICE Senior AV
Bonds 66 66 66 64 64 64 64 64 64 64
State Loans Senior Revenue
State Loans
Total Senior Debt Service 66 66 66 64 64 64 64 64 64 64
Subordinate Revenue
Bonds State Loans
Total Debt Service 66 66 66 64 64 64 64 64 64 64
SENIOR DEBT COVERAGE 1.20 1.20 1.20 1.20 1.86 3.11 3.11 3.13 3.17 3.17
SUBORDINATE DEBT COVERAGE
73
Table 13 (continued)
PARTICIPATING DISTRICTS HISTORICAL AND PROJECTED OPERATING DATA ($000)
Historical Operating Data Projected Operating Data
DISTRICT NO. 28 Fiscal Year
2008/09 Fiscal Year
2009/10 Fiscal Year
2010/11 Fiscal Year
2011/12 Fiscal Year
2012/13 Fiscal Year
2013/14 Fiscal Year
2014/15 Fiscal Year
2015/16 Fiscal Year
2016/17 Fiscal Year 2017/18 REVENUE SOURCES
A.V. Tax 477 505 476 490 526 534 542 550 558 566 Service Charge 806 879 989 992 997 970 944 948 952 615 Industrial Waste 14 14 14 15 14 12 12 12 12 12
Contract 31 33 85 45 31 36 43 45 46 48
Interest 101 58 84 61 54 43 45 48 52 55
Rate Stabilization Fund 0 0 0 0 0 0 0 0 0 0
Miscellaneous 5 8 5 6 2 6 6 6 6 6
Subtotal 1,434 1,497 1,653 1,609 1,624 1,601 1,592 1,609 1,627 1,303
Connection Fees 4 4 4 4 4 0 0 0 0 0
Revenue for Sr Debt 1,438 1,501 1,657 1,613 1,628 1,601 1,592 1,609 1,627 1,303
Connection Fees 466 76 34 33 21 0 0 0 0 0
Revenue for Sub Debt 1,900 1,573 1,687 1,642 1,645 1,601 1,592 1,609 1,627 1,303 EXPENSES
Total O&M 512 548 501 520 523 622 632 652 672 693 Rate Stabilization Fund 300 315 530 465 0 0 0 0 0 0
Total Expenses 812 863 1,031 985 523 622 632 652 672 693
DEBT SERVICE Senior AV
Bonds 100 100 100 99 98 98 97 97 97 97
State Loans 9 9 9 9 9 0 0 0 0 0
Senior Revenue
State Loans 406 414 408 408 409 412 412 409 231 42 Total Senior Debt Service 515 523 517 516 516 510 509 506 328 139
Subordinate Revenue
Bonds
State Loans 6 8 6 7 10 11 11 11 13 22
Total Debt Service 521 531 523 523 525 520 520 516 341 161
SENIOR DEBT COVERAGE 1.20 1.20 1.20 1.20 2.12 1.90 1.86 1.87 2.87 4.24 SUBORDINATE DEBT COVERAGE 2.09 1.34 1.25 1.26 2.13 1.88 1.85 1.85 2.80 3.80
74
Table 13 (continued)
PARTICIPATING DISTRICTS HISTORICAL AND PROJECTED OPERATING DATA ($000)
Historical Operating Data Projected Operating Data
DISTRICT NO. 29 Fiscal Year
2008/09 Fiscal Year
2009/10 Fiscal Year
2010/11 Fiscal Year
2011/12 Fiscal Year
2012/13 Fiscal Year
2013/14 Fiscal Year
2014/15 Fiscal Year
2015/16 Fiscal Year
2016/17 Fiscal Year 2017/18 REVENUE SOURCES
A.V. Tax 180 159 79 87 104 87 88 89 91 92 Service Charge 1,311 1,624 1,793 1,816 1,821 1,748 1,748 1,748 1,748 1,748 Industrial Waste 70 74 65 83 96 81 82 83 83 84
Contract 41 38 112 59 55 42 50 52 54 56
Interest 62 36 48 39 23 21 22 26 30 34
Rate Stabilization Fund 0 0 0 0 0 0 0 0 0 0
Miscellaneous 8 10 9 8 3 9 9 9 9 9
Subtotal 1,672 1,941 2,106 2,092 2,101 1,987 1,998 2,006 2,014 2,023
Connection Fees 6 5 5 5 5 0 0 0 0 0
Revenue for Sr Debt 1,678 1,946 2,111 2,097 2,106 1,987 1,998 2,006 2,014 2,023
Connection Fees 53 73 93 46 27 0 0 0 0 0
Revenue for Sub Debt 1,725 2,014 2,199 2,138 2,128 1,987 1,998 2,006 2,014 2,023 EXPENSES
Total O&M 867 1,356 1,084 1,052 1,087 1,180 1,206 1,245 1,286 1,325 Rate Stabilization Fund 528 262 153 248 0 0 0 0 0 0 Total Expenses 1,395 1,618 1,237 1,300 1,087 1,180 1,206 1,245 1,286 1,325
DEBT SERVICE Senior AV
Bonds 31 31 31 31 31 31 30 30 30 30
State Loans 11 11 12 11 11 0 0 0 0 0
Senior Revenue
State Loans 53 54 56 55 54 52 52 48 48 48
Total Senior Debt Service 95 96 99 97 96 84 82 78 78 78
Subordinate Revenue
Bonds
State Loans 9 9 8 9 13 76 76 76 78 89
Total Debt Service 104 105 107 106 109 159 158 154 157 168
SENIOR DEBT COVERAGE 2.88 3.32 8.76 8.13 10.48 8.76 8.72 8.77 8.32 7.79 SUBORDINATE DEBT COVERAGE 3.17 3.77 9.00 7.92 9.55 5.08 5.01 4.94 4.64 4.15
75
Table 13 (continued)
PARTICIPATING DISTRICTS HISTORICAL AND PROJECTED OPERATING DATA ($000)
Historical Operating Data Projected Operating Data
SOUTH BAY CITIES
SANITATION DISTRICT Fiscal Year
2008/09 Fiscal Year
2009/10 Fiscal Year
2010/11 Fiscal Year
2011/12 Fiscal Year
2012/13 Fiscal Year
2013/14 Fiscal Year
2014/15 Fiscal Year 2015/16
Fiscal Year
2016/17 Fiscal Year 2017/18 REVENUE SOURCES
A.V. Tax 3,833 3,897 3,802 3,892 4,147 4,209 4,273 4,337 4,401 4,465 Service Charge 4,611 5,331 6,008 5,985 6,197 6,161 6,263 6,366 6,468 6,570 Industrial Waste 321 267 329 290 420 282 284 287 290 293 Contract 377 350 1,015 544 366 398 468 487 507 527 Interest 1,166 713 527 350 229 233 235 234 241 251 Rate Stabilization Fund 0 0 0 0 0 0 0 0 0 0 Miscellaneous 69 89 84 75 29 79 79 79 79 79 Subtotal 10,377 10,647 11,765 11,136 11,388 11,363 11,603 11,789 11,985 12,185
Connection Fees 51 47 46 47 47 37 37 37 37 37 Revenue for Sr Debt 10,428 10,694 11,811 11,183 4,147 4,209 4,273 4,337 4,401 4,465
Connection Fees 419 441 356 352 266 37 37 37 37 37 Revenue for Sub Debt 10,796 11,088 12,121 11,488 4,147 4,209 4,273 4,337 4,401 4,465
EXPENSES
Total O&M 7,094 6,643 6,786 6,923 6,771 7,558 7,865 8,130 8,395 8,655 Rate Stabilization Fund 1,380 2,110 3,070 2,109 0 0 0 0 0 0 Total Expenses 8,474 8,753 9,856 9,032 4,147 4,209 4,273 4,337 4,401 4,465
DEBT SERVICE Senior AV
Bonds 971 971 968 951 944 943 936 935 934 936 State Loans 104 104 103 104 105 0 0 0 0 0 Senior Revenue
State Loans 489 477 494 504 487 491 491 454 454 454 Total Senior Debt Service 1,564 1,552 1,565 1,559 1,536 1,434 1,427 1,389 1,388 1,389
Subordinate Revenue
Bonds
State Loans 78 82 76 88 115 116 116 116 141 243 Total Debt Service 1,642 1,634 1,641 1,647 1,651 1,550 1,543 1,505 1,529 1,633 SENIOR DEBT COVERAGE 1.20 1.20 1.20 1.32 2.96 2.60 2.56 2.58 2.51 2.39 SUBORDINATE DEBT COVERAGE 1.41 1.43 1.38 1.49 2.96 2.48 2.45 2.46 2.37 2.18
76
Table 13 (continued)
PARTICIPATING DISTRICTS HISTORICAL AND PROJECTED OPERATING DATA ($000)
Historical Operating Data Projected Operating Data
SANTA CLARITA VALLEY
SANITATION DISTRICT Fiscal Year
2008/09 Fiscal Year
2009/10 Fiscal Year
2010/11 Fiscal Year
2011/12 Fiscal Year
2012/13 Fiscal Year
2013/14 Fiscal Year
2014/15 Fiscal Year 2015/16
Fiscal Year
2016/17 Fiscal Year 2017/18 REVENUE SOURCES
A.V. Tax 6,337 6,258 5,627 5,655 5,820 5,902 5,990 6,080 6,170 6,260 Service Charge 15,462 17,331 18,275 19,500 21,264 22,831 23,393 23,995 24,518 24,989 Industrial Waste 320 354 357 423 468 454 459 463 468 472 Contract 1,605 1,477 2,392 1,901 1,521 1,663 1,863 2,068 2,275 2,502 Interest 3,093 2,009 1,731 1,107 694 637 636 618 611 620 Rate Stabilization Fund 160 0 0 0 0 0 0 0 0 0 Miscellaneous 416 314 339 423 0 373 373 373 373 373 Subtotal 27,393 27,743 28,721 29,009 29,767 31,860 32,714 33,557 34,579 35,381
Connection Fees 4,795 4,794 4,789 4,753 1,868 165 165 165 165 165 Revenue for Sr Debt 32,188 32,537 33,510 33,762 31,635 32,025 32,879 33,722 34,579 35,381
Connection Fees 1,175 1,136 987 2,323 1,868 165 165 165 165 165 Revenue for Sub Debt 28,568 28,879 28,708 31,332 31,635 32,025 32,879 33,722 34,579 35,381
EXPENSES
Total O&M 21,472 18,206 18,084 19,019 18,757 21,526 22,163 22,479 22,915 23,406 Rate Stabilization Fund 0 3,550 4,500 5,250 0 0 0 0 0 0 Total Expenses 21,472 21,756 22,584 24,269 18,757 21,526 22,163 22,479 22,915 23,406
DEBT SERVICE Senior AV
Bonds 3,449 3,448 3,437 3,378 3,352 3,349 3,323 3,321 3,318 3,322
State Loans 0 0 0 0 0 0 0 0 0 0
Senior Revenue
State Loans 1,012 1,011 1,011 1,011 608 608 608 608 608 608 Total Senior Debt Service 4,461 4,459 4,448 4,389 3,960 3,958 3,931 3,929 3,927 3,930
Subordinate Revenue
Bonds
State Loans 2,014 2,014 2,014 2,014 2,417 2,417 2,674 2,674 2,674 2,674 Total Debt Service 6,475 6,473 6,462 6,403 6,377 6,374 6,605 6,603 6,601 6,604 SENIOR DEBT COVERAGE 1.95 1.97 2.00 1.70 2.64 2.04 2.05 2.18 2.29 2.37 SUBORDINATE DEBT COVERAGE 1.10 1.10 1.10 1.10 2.02 1.65 1.62 1.70 1.77 1.81
77 Certain Existing Reserves of the Participating Districts.
The Participating Districts maintain a variety of reserves for operating costs, capital costs and rate stabilization. The reserves, currently totaling nearly $1 billion in the aggregate, are maintained in two separate funds with respect to each Participating District, the operating fund and the capital improvement fund (“CIF”). The operating funds can be used for any authorized expense of the respective Participating Districts. In addition, a portion of the operating fund for each Participating