FY2016 CCDOA Financial Report as of 6302016.pdf - page 150

137
Clark County Department of Aviation
Clark County, Nevada
Schedule of Airport Revenue Bond Debt Service Coverage
FromOperating Revenues and Interest Income Available for Debt Service
Last Ten Fiscal Years
(Unaudited)
(a)
(b)
(c)
(d)
(e)
(a) minus (b)
(b) minus (c)
Total Revenue Total Revenue
Less:
Net Revenue
Net Revenue
(g)
(e)/(g)
Available for
Available for
Operating and Available for
Available for
(f)
(d)/(f)
Subordinate Senior and
Senior
Subordinate Maintenance
Senior
Subordinate
Senior Lien
Senior Lien
Lien Debt
Subordinate
Fiscal
Debt Service Debt Service
Expenses
Debt Service Debt Service Debt Service
Coverage
Service Lien Coverage
Year
(000)
(000)
(000)
(000)
(000)
(000)
(1.25 Required *)
(000)
(1.10 Required*)
2007
358,586
$
363,336
$
207,443
$
151,143
$
155,893
$
40,371
$
3.74
47,505
$
1.77
2008
412,806
418,566
247,726
165,080
170,840
39,934
4.13
57,602
1.75
2009
408,260
413,052
244,396
163,864
168,656
43,066
3.80
47,919
1.85
2010
385,465
390,260
227,694
157,771
162,566
60,674
2.60
47,950
1.50
2011
413,762
419,503
217,353
196,409
202,150
63,194
3.16
57,407
1.68
2012
368,951
373,156
223,106
145,845
150,050
31,670
4.61
42,053
2.04
2013
532,135
547,115
236,511
295,624
310,604
71,102
4.17
149,804
1.41
2014
543,229
557,773
233,978
309,251
323,795
70,559
4.38
145,442
1.50
2015**
560,237
572,092
234,368
325,869
337,724
79,533
4.10
118,553
1.70
2016**
580,171
594,208
239,114
341,057
355,094
75,401
4.52
140,369
1.65
Average Annual Increase (Decrease)
5.5%
5.6%
1.6%
9.5%
9.6%
7.2%
2.1%
12.8%
-0.8%
* Required by Master Indenture of Trust, dated May 1, 2003, as amended
** Fiscal year incorporates GASB 68
Schedule of Passenger Facility Charge (PFC) Revenue Bond Debt Service Coverage
From PFC Revenues and PFC Interest Income Available for Debt Service
Last Ten Fiscal Years
(Unaudited)
PFC
PFC
Fiscal
Revenue
Debt Service PFC Coverage
Year
(000)
(000)
(none Required)
2007
93,756
$
79,970
$
1.17
2008
95,079
95,204
1.00
2009
81,271
89,456
0.91
2010
81,805
81,804
1.00
2011
78,997
82,187
0.96
2012
80,688
76,586
1.05
2013
80,158
76,402
1.05
2014
80,250
76,231
1.05
2015
84,675
76,185
1.11
2016
91,425
75,977
1.20
Average Annual Increase (Decrease)
-0.3%
-0.6%
0.3%
This schedule provides information on coverage requirements for senior lien and subordinate lien debt service as defined in the Master Indenture of Trust dated May 1, 2003. For illustrative purposes,
this schedule also provides calculated coverage for Passenger Facility Charge revenue bonds issued by the Department.
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