Park Harrisburg

2016 Quarterly Income Statement - Unaudited

thru September 30th 2016
System Revenues

Commonwealth Contract Revenues

Transient Revenues
Monthly Parkers & Validations
Meters Revenues
Enforcement Revenues
Other Revenues
Cash Hoildback
Accrual Adjustment

Q3
Actual
2,738,340
717,627
1,470,628
857,349
309,792
21,707
(60,858)

Q3
Budget
2,738,340
695,727
1,432,750
834,683
332,377
22,286
(60,858)

Q3
Variance

(111,121)

(111,121)

21,900
37,879
22,666
(22,585)
(578)
-

Total System Revenues

Parking Tax (@20%)

5,943,464
(820,215)

5,884,183
(823,198)

59,281
2,983

Revenues Net of Parking Tax

5,123,249

5,060,985

1,495,116
343%

1,495,116
339%

902,171
91,702
22,500
66,150
55,125

905,434
70,002
30,000
66,150
55,125

System O&M Fees

1,137,648

NET OPERATING INCOME

YTD
Actual
8,215,020
2,327,203
4,471,871
2,506,356
995,728
42,498
(334,992)
(191,783)

YTD
Budget
8,215,020
2,328,442
4,357,346
2,517,915
997,130
39,115
-

YTD
Variance
(1,239)
114,525
(11,559)
(1,402)
3,383
(334,992)
(191,783)

2016
Budget
10,953,360
3,063,117
5,794,571
3,243,462
1,329,507
47,778
-

18,031,901
(2,486,281)

18,454,968
(2,483,018)

(423,067)
(3,263)

24,431,795
(3,301,241)

62,264

15,545,620

15,971,950

(426,330)

21,130,554

4,485,347
347%

4,485,348
356%

(3,263)
21,700
(7,500)
-

2,756,120
239,242
87,500
198,450
165,375

2,805,025
210,006
90,000
198,450
165,375

(48,905)
29,236
(2,500)
-

3,701,492
280,000
120,000
264,600
220,500

1,126,711

10,937

3,446,686

3,468,856

(22,170)

4,586,592

2,490,485

2,439,157

51,328

7,613,587

8,017,746

(404,159)

10,563,498

Series B - Dauphin County Net Debt Service

Series C - AGM / Dauphin County Net Debt Service

1,057,450
757,500

1,057,450
757,500

3,172,350
2,272,500

3,172,350
2,272,500

4,229,796
3,030,000

Total Junior Debt Service

Debt Service Coverage (NOI/total Debt Service)

1,814,950
120%

1,814,950
119%

5,444,850
122%

5,444,850
126%

7,259,796
125%

675,535

624,207

51,328

2,168,737

2,572,896

(404,159)

3,303,702

City Payments
HPA
Operator Perfomance Management Fee
Asset Manager Performance Management Fee
PEDFA

412,754
262,781
-

458,250
291,747
16,538
13,781
53,045

(45,496)
(28,966)
(16,538)
(13,781)
(53,045)

1,325,112
843,625
-

1,374,750
875,243
49,613
41,344
159,135

(49,638)
(31,618)
(49,613)
(41,344)
(159,135)

1,833,000
1,166,990
66,150
55,125
212,180

Subordinated Expenses

675,535

833,361

(157,826)

2,168,737

2,500,084

(331,347)

3,333,445

Senior Debt - Series A

Series A Net Debt Service

Gross Revenue Coverage

5,980,464
353%

Operating Expenses

Operator Expenses
Asset Manager Expenses
Authority Expenses
Operator fee
Asset Manager fee

Junior Debt - Series B & C

CASH FLOW AFTER DEBT SERVICE

Subordinated Expenses*

SURPLUS CASHFLOWS

(209,153)

* Subordinated Expense payments may differ from Cash Flow due to timing of receipts and accrued payments.
source: PK Harris Advisors, LLC

(0)

72,812

(29,743)