Comprehensive Annual Financial Report for FY 2012 - Omnitrans

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS
Year Ended June 30, 2012 (with Comparative Totals for Year Ended June 30, 2011)
2012 2011
OPERATING REVENUES:
Passenger fares $ 14,536,931 14,538,747
Advertising revenue 805,904 909,176
Other transportation revenue 39,819 41,802
TOTAL OPERATING REVENUES 15,382,654 15,489,725
FINANCIAL SECTION
OPERATING EXPENSES:
Salaries and benefits 39,751,359 40,037,950
Purchased transportation services 8,882,227 8,121,333
General and administrative 7,779,983 7,495,178
Materials and supplies 8,876,733 7,743,557
Capital purchases 345,063 263,908
Professional and technical services 2,147,300 1,638,070
Advertising and printing 916,224 931,927
Depreciation 17,070,294 12,772,455
Miscellaneous 507,243 297,914
TOTAL OPERATING EXPENSES 86,276,426 79,302,292
OPERATING INCOME/(LOSS) (70,893,772) (63,812,567)
NON-OPERATING REVENUES/(EXPENSES):
Federal and local operating grants 47,875,811 52,675,797
Interest income 52,727 74,302
Interest expense (3,980) (6,590)
Pass-through to other agencies (Note 10) (620,108) (18,754,320)
Loss on disposal of capital assets (271,438) (739,670)
Other non-operating revenues (expenses) 24,951 20,002
TOTAL NON-OPERATING REVENUES 47,057,963 33,269,521
INCOME BEFORE CAPITAL CONTRIBUTIONS (23,835,809) (30,543,046)
CAPITAL CONTRIBUTIONS:
Capital assistance 34,412,696 21,016,685
CHANGE IN NET POSITION 10,576,887 (9,526,361)
NET POSITION, BEGINNING OF YEAR 134,084,020 143,610,381
NET POSITION, END OF YEAR $ 144,660,907 134,084,020
See accompanying notes to basic financial statements
2012 Comprehensive Annual Financial Report
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