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budget for aviation and dulles corridor enterprise funds

budget for aviation and dulles corridor enterprise funds

2012 BUDGETMetropolitan

2012 BUDGETMetropolitan Washington Airports AuthoritySTATEMENT OF OPERATIONS1Table 4-3 Budget Budget Dollar Percent(dollars in thousands) 2011 2012 Change ChangeOPERATING REVENUESElectronic Toll Collection (ETC) Toll Revenue $ 67,990 $ 74,973 $ 6,983 10.3%Cash Toll Revenue 29,138 32,131 2,993 10.3%Transfer to Other State Agency - Indirect Cost - - - -SUBTOTAL TOLL REVENUE 97,128 107,104 9,976 10.3%Violations Fee Collections 719 719 - 0.0%SUBTOTAL OTHER INCOME 719 719 - 0.0%TOTAL OPERATING REVENUES $ 97,847 $ 107,823 $ 9,976 10.2%OPERATING EXPENSESPersonnel Compensation $ 2,052 $ 2,198 $ 146 7.1%Employee Benefits 843 900 57 6.8%Other Personnel Expenses - - - -Travel 8 9 1 17.5%Lease and Rental Payments 30 30 - 0.0%Utilities 210 210 - 0.0%Information Technology and Telecommunications 24 24 - 0.0%Services 17,575 17,844 269 1.5%Supplies, Materials, and Fuels 783 815 32 4.1%Insurance and Risk Management 1,100 1,100 - 0.0%Noncapital Equipment 16 16 - 0.0%Capital Equipment 282 432 150 53.2%Noncapital Facility Projects 50 50 - 0.0%Capital Facility Projects 150 - (150) -100.0%Allocated Costs 4,721 5,117 397 8.4%TOTAL OPERATING EXPENSES $ 27,843 $ 28,746 $ 903 3.2%NET OPERATING INCOME $ 70,004 $ 79,077 $ 9,073 13.0%NONOPERATING REVENUE $ - 0.0%Interest Income $ 3,655 $ 1,010 $ (2,645) -72.4%TOTAL NONOPERATING REVENUE $ 3,655 $ 1,010 $ (2,645) -72.4%NONOPERATING EXPENSESRenewal and Replacement Program $ 4,100 $ 6,190 $ 2,090 51.0%Corridor Capital Improvements (Transportation Management Program) - - - -Metrorail Capital Projects & Latent Defects - - - -Eligible Transit Operating Costs - - - -SUBTOTAL NONOPERATING EXPENSES $ 4,100 $ 6,190 $ 2,090 51.0%DEBT SERVICEDebt Service (Principal/Interest)/Reserve 1 $ 51,142 $ 50,079 $ (1,063) -2.1%TOTAL DEBT SERVICE $ 51,142 $ 50,079 $ (1,063) -2.1%RESERVE CONTRIBUTIONSEmergency Operations and Maintenance Reserve $ - $ - $ - -Capital Improvements Fund - 23,818 23,818 0.0%Transit Operating Fund - - - -WMATA Latent Defects Reserve Fund 2 7,000 - (7,000) -100.0%DCE Reserve and Toll Rate Stabilization Fund 11,416 - (11,416) -100.0%TOTAL RESERVE CONTRIBUTIONS $ 18,416 $ 23,818 $ 5,402 29.3%REMAINING TOLL RD REVENUE FUND $ -- $ - -The total 2011 debt service is $65.8 million, the $51.1 million above excludes $14.7 million direct federal subsidy on Build America Bonds (BAB).The total 2012 debt service is $64.7 million, the $50.1 million above excludes $14.7 million direct federal subsidy on Build America Bonds (BAB).2 The Authority's required to fund $15 million. $5 million was added to the 2009 Budget, $3 million was included in the 2010 Budget, and $7 million in 2011.192

2012 BUDGETMetropolitan Washington Airports AuthorityDULLES TOLL ROADOperating Expenses*Table 4-4 2011 2012 DifferencePersonnel Compensation and Benefits $ 2,895,000 $ 3,098,000 203,000Other Operating Expenses 20,227,000 20,531,000 304,000Total Dulles Toll Road Operating Expenses $ 23,122,000 $ 23,629,000 $ 507,000The funding requirement for the Dulles Toll Road’s operating expenses will increase by $507thousand in 2012.Personnel Compensation and Benefits Expenses .......................................... $203,000 An increase of $143.7 thousand for personnel compensation is a result of the filling ofnew and vacant positions, and an increase for PMP. Employee benefits increased $57.3 thousand due to additional budget for healthinsurance costs due to vacancy fillings and an increase in retirement benefits.Other Operating Expenses .................................................................................... $304,000 Custodial services increased by $40.0 thousand due to an anticipated new contractaward. An increase in contractual services of $229.1 thousand is a result of new contracts fortemporary staffing, tree removal and street sweeping. While fuel expense increased $56.5 thousand, supplies and materials decreased by$24.3 thousand resulting in a net increase of $32.2 thousand in supplies, fuels andmaterials. An increase of $150.0 thousand in capital equipment was offset by a $150.0 thousanddecrease in capital facility projects.* Does not include cost allocation.193

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