Comprehensive Annual Financial Report - Fiscal Year ended 6/30/2017

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION PROPRIETARY FUNDS For the fiscal year ended June 30, 2017 Convention Water and Center Complex Mass Transit Stormwater Operating revenues Sewer Fund Fund Fund Fund User charges 233,033,861 $ 13,964,072 $ 6,557,484 $ 22,643,060 $ Charges for services - internal - - - - Other 6,739,892 1,120,457 162,868 81,586 Drug rebate - - - - Total operating revenues 239,773,753 15,084,529 6,720,352 22,724,646 Operating expenses Personnel services - 9,097,852 787,737 5,033,300 Other facility operating costs - 7,755,031 11,310,701 7,626,150 Operational expenses - - - - Administration 11,828,064 - - - Water supply and treatment 29,574,442 - - - Sewer system and treatment 21,999,074 - - - Warehousing, maintenance and construction 19,133,141 - - - Utility billing 6,610,941 - - - Other services 4,190,236 - - - Non-departmental charges 8,859,196 - - - Management contract charges - - 24,945,810 - Claims - - - - Premiums - - - - Depreciation 35,893,343 8,266,557 4,283,131 2,520,207 Other - - - - Total operating expenses 138,088,437 25,119,440 41,327,379 15,179,657 Operating income (loss) 101,685,316 (10,034,911) (34,607,027) 7,544,989 Nonoperating revenue (expense) Gain (loss) on investments 2,724,269 42,867 - 130,202 Gain on actuarial estimate - - - - Subsidy income - federal and state - - 12,332,070 - Recovery of claims - - - - Other revenues 388,856 - - - Interest expense (22,484,642) (7,880,087) - - Gain (loss) on sale of capital assets 94,326 - 36,833 1,481 Miscellaneous expense (3,013,345) (1,198,177) - - Total nonoperating revenue (expense) (22,290,536) (9,035,397) 12,368,903 131,683 Income (loss) before contributions, transfers and special items 79,394,780 (19,070,308) (22,238,124) 7,676,672 Capital contributions 4,250,345 - 5,462,276 2,933,405 Transfers in 997,910 29,450,795 19,788,304 46,829 Transfers out (1,841,470) (131,336) (295,789) (295,288) Change in net position 82,801,565 10,249,151 2,716,667 10,361,618 Net position, beginning of year 945,402,577 20,283,558 42,947,875 95,304,805 Net position, end of year 1,028,204,142 $ 30,532,709 $ 45,664,542 $ 105,666,423 $ The notes to the financial statements are an integral part of this statement. Enterprise Funds City of Raleigh _____________________________________________________________ Financial Section ____________________________________________________________ __________________________________________________________ 14 __________________________________________________________

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