Comprehensive Annual Financial Report for FY 2012 - Omnitrans

FINANCIAL TRENDS (CONTINUED)
CHANGES IN NET POSITION
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
OPERATING REVENUES
Passenger fares $ 11,566,651 12,075,736 11,837,875 12,202,126 12,761,463 13,511,536 13,779,684 14,242,013 14,538,747 14,536,931
Advertising revenues 554,784 592,126 596,723 677,943 824,253 948,051 967,628 849,585 909,176 805,904
Other transportation revenues 163,002 189,553 267,901 111,577 37,862 47,307 42,708 39,752 41,802 39,819
Total revenues $ 12,284,437 12,857,415 12,702,499 12,991,646 13,623,578 14,506,894 14,790,020 15,131,350 15,489,725 15,382,654
OPERATING EXPENSES
Depreciation and amortization 8,870,422 8,084,525 7,869,981 8,275,341 8,323,081 8,861,306 9,255,553 10,999,458 12,772,455 17,070,294
Other operating expenses 56,338,850 61,486,917 64,367,977 64,867,497 66,481,860 67,756,893 67,770,003 67,501,900 66,529,837 69,206,132
Total expenses $ 65,209,272 69,571,442 72,237,958 73,142,838 74,804,941 76,618,199 77,025,556 78,501,358 79,302,292 86,276,426
NON-OPERATING
REVENUES/(EXPENSES)
Federal and local
operating grants 43,061,928 45,956,338 49,798,107 54,858,935 52,112,668 55,587,601 52,983,639 48,085,804 52,675,797 47,875,811
Interest income 338,592 285,807 464,377 995,770 1,714,629 1,656,529 758,950 243,098 74,302 52,727
Interest expense 0 0 0 (2,218) (5,762) (11,029) (9,149) (6,835) (6,590) (3,980)
Pass-through to
other agencies (2,884,271) (3,727,931) (2,625,321) (800,137) (729,007) (1,254,751) (2,779,299) (3,031,642) (18,754,320) (620,108)
Other non-operating
revenues (expenses) 116,692 (777,389) 171,574 55,196 (305,583) (258,422) (24,710) (299,568) (719,668) (246,487)
Total non-operating
revenues $ 40,632,941 41,736,825 47,808,737 55,107,546 52,786,945 55,719,928 50,929,431 44,990,857 33,269,521 47,057,963
Income before
capital contribution (12,291,894) (14,977,202) (11,726,722) (5,043,646) (8,394,418) (6,391,377) (11,306,105) (18,379,151) (30,543,046) (23,835,809)
CAPITAL CONTRIBUTIONS
Capital assistance $ 6,628,839 21,705,960 16,144,460 7,274,580 14,623,890 9,635,155 22,603,589 33,438,207 21,016,685 34,412,696
Contributions from
other agencies 0 0 0 0 262,225 0 0 0 0 0
Total capital contributions $ 6,628,839 21,705,960 16,144,460 7,274,580 14,886,115 9,635,155 22,603,589 33,438,207 21,016,685 34,412,696
Change in net position $ (5,663,055) 6,728,758 4,417,738 2,230,934 6,491,697 3,243,778 11,297,484 15,059,056 (9,526,361) 10,576,887
Net position,
beginning of year $ 91,957,138 86,294,083 94,864,106 105,287,432 107,518,366 114,010,063 117,253,841 128,551,325 143,610,381 134,084,020
Net position, end of year $ 86,294,083 93,022,841 99,281,844 107,518,366 114,010,063 117,253,841 128,551,325 143,610,381 134,084,020 144,660,907
Notes: Omnitrans implemented GASB 34 during the fiscal year ended June 30, 2003. The FY2005 beginning balance in net assets includes an adjustment for workers’ compensation reserve that was previously
overstated. In addition, the restatement includes certain revenues and expenses that were not recognized in prior period. Pass-through to other agencies for 2011 include return of $16M in LTF funds to SANBAG
for future allocation.
Source: Finance Department
STATISTICAL SECTION
2012 Comprehensive Annual Financial Report
33