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Schedule 17

CITY OF MYRTLE BEACH, SOUTH CAROLINA PLEDGED-REVENUE COVERAGE Last Ten Fiscal Years

Fiscal Year

Operating Revenues (1)

Operating Expenses (2)

Water and Sewer Net Available Revenue

Revenue Bonds Debt Principal

Service Interest

23,536,672 $

11,698,624 $

11,838,048 $

4,020,000

$

2,435,660

22,662,836

11,461,140

11,201,696

4,205,000

2,244,180

25,208,710

12,556,276

12,652,434

4,760,233

2,021,117

25,385,506

13,761,641

11,623,865

5,198,692

2,324,444

27,078,842

13,284,569

13,794,273

5,418,555

2,113,443

28,930,884

13,510,646

15,420,238

2,394,844

2,113,118

25,601,227

19,834,291

5,766,936

0

0

24,345,555

20,869,473

3,476,082

0

101,273

21,826,203

21,160,184

666,019

0

506,363

21,819,786

19,917,775

1,902,011

0

506,362

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

$

Fiscal Year

2004 2005 2006 2007 2008 2009 2010

0$

0

0

2,658,451

0

2,545,325

0

2,545,325

0

2,545,325

0

2,545,325

0

2,545,325

Hospitality Fees

$

7,334,838 $ 7,716,371 8,074,246 8,348,376 8,678,672 8,222,570 8,283,197

Hospitality Fee Revenue Bonds Debt Service

Principal

Interest

(3)

Notes: Details regarding the City's outstanding debt can be found in the notes to the financial statements.

  • (1)

    Operating revenues include impact fee capital contributions and unrestricted interest earnings.

  • (2)

    Operating expenses do not include depreciation or the indirect cost transfer from the General Fund.

  • (3)

    The City's hospitality fee revenue bonds were issued in 2004.

  • (4)

    The City's storm water revenue bonds were first issued in 2005.

UNAUDITED

  • -

    136 -

Coverage

1.83 1.74 1.87 1.55 1.83 3.42 N/A 34.32 1.32 3.76

Coverage

N/A 2.90 3.17 3.28 3.41 3.23 3.25

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