Sewerage & Water Board of New Orleans
FY 2000
Statement of Budgeted Revenues & Expenses
|
Water |
Sewerage |
Drainage |
Total |
|
|
Operating Revenues: |
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|
Net Revenue from Charges |
$ 53,500,000 |
$ 38,750,000 |
$ 0 |
$ 92,250,000 |
|
Does not include 30% sewer rate increase |
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|
Tax Revenues |
0 |
0 |
34,912,000 |
34,912,000 |
|
Interest and Other Income |
3,000,000 |
1,000,000 |
2,900,000 |
6,900,000 |
|
6.40 Mill Tax Revenue Sharing |
360,000 |
448,000 |
0 |
808,000 |
|
Total Operating Revenues |
56,860,000 |
40,198,000 |
37,812,000 |
134,870,000 |
|
Less Operating Expenses |
46,527,525 |
33,373,017 |
19,400,082 |
99,300,624 |
|
Less Depreciation (a) |
10,500,000 |
8,400,000 |
9,500,000 |
28,400,000 |
|
Net Operating Revenues |
(167,525) |
(1,575,017) |
8,911,918 |
7,169,376 |
|
Non-Operating Revenue/Expenses: |
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|
Participation By Others (b) |
0 |
6,000,000 |
93,684,000 |
99,684,000 |
|
Interest Expense |
(1,023,436) |
(2,682,656) |
(694,770) |
(4,400,862) |
|
Total Non-Operating Revenue (Expenses) |
(1,023,436) |
3,317,344 |
92,989,230 |
95,283,138 |
|
Net Income |
(1,190,961) |
1,742,327 |
101,901,148 |
102,452,514 |
|
(Operating & Non-Operating Revenue) |
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|
Net income after operating expenditures is available for debt service (bond payments) and capital improvements, but only for that particular system. |
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|
Bonds Principal Payable |
(2,590,000) |
(1,745,000) |
(1,300,000) |
(5,635,000) |
|
Total Net Income After |
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|
Bonds Principal Payable |
(3,780,961) |
(2,673) |
100,601,148 |
96,817,514 |
|
Depreciation (a) |
10,500,000 |
8,400,000 |
9,500,000 |
28,400,000 |
|
Net Income Allocated To Capital |
$ 6,719,039 |
$ 8,397,327 |
$ 110,101,148 |
$ 125,217,514 |
|
|
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|
30% sewer rate increase, March 2000 |
$ 9,170,700 |
|||
|
Proceeds of bond sale, May 2000 |
24,334,400 |
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|
Proceeds of bond sale (net), Fall 2000 |
18,000,000 |
|||
|
Less increased debt service |
(855,000) |
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|
Total Net Income Allocated to Capital, BGR estimate |
$ 59,047,427 |
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|
(a) The depreciation line estimates the decline in the value of capital assets over time. To account for the cost of replacement and maintenance of these capital assets, depreciation is subtracted from the Operating Revenues, but added to the net income where it is available to help fund the capital budget. |
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|
(b) Includes federal sewer system grants, Southeastern Louisiana Flood Control Program (SELA), and other outside funding sources. |
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|
(c) Major changes subsequent to adoption of Budget (budget adopted December 1999) . |
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Source: S&WB 2000 Adopted Operating Budget
Recompiled by BGR, July 2000
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