Comprehensive Annual Financial Report for the ... - WMATA.com

Washington Metropolitan Area Transit AuthorityFY 2009 Comprehensive Annual Financial ReportNotes to Basic Financial StatementsJune 30, 2009 and 2008(11) Leasing Transactions (Continued)(b) Leasing Disclosure (Continued)The remaining period of these agreements ranges from approximately seven to twenty-three years. Inaddition, as a result of the impact of events on other major metropolitan transportation authorities, theAuthority is requesting assistance with this situation from the federal government.In summary, as a result of the events described above, it is currently unknown what the cost of theresolutions to any future equity investors requests will be to the Authority, and as such, no liability hasbeen recognized.(12) Changes in Long-Term LiabilitiesLong-term liabilities activity for the years ended June 30, 2009 and 2008, was as follows (in thousands):Injury & Retainage Deferred ObligationsDamage on Lease Bonds Under LeaseClaims Contracts Revenue Payable AgreementsBeginning balance, July 1, 2007 $ 97,264 $ 34,238 $ 56,189 $ 178,902 $ 1,427,072Additions 23,826 24,165Reductions (9,565) (26,264) (5,702) (25,776) (51,462)Balance, June 30, 2008 111,525 32,139 50,487 153,126 1,375,610Additions 39,365 4,657 311,320Reductions (24,747) (7,432) (22,582) (28,575) (535,492)Ending balance, June 30, 2009 $ 126,143 $ 29,364 $ 27,905 $ 435,871 $ 840,118Due within one year $ 47,462 $ 2,437 $ 3,401 $ 29,693 $ 83,543Noncurrent portion $ 78,681 $ 26,927 $ 24,504 $ 406,178 $ 756,57559