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TABLE 3
<br />STATEMENT OF REVENUES, EXPENDITURES, AND
<br />CHANGES IN FUND BALANCES
<br />CITY OF SANTA ANA GAS TAX FUND
<br />For the Fiscal Years Ended June 30, 2015, through June 30, 2019
<br />2015
<br />20161'1
<br />2017
<br />2019
<br />2019(2x5)
<br />Revenues:
<br />Intergovemmen[afn
<br />$ 8,985,866
<br />$ 6,948,645
<br />$ 6,601,023
<br />$ 9,159,380
<br />$13,118,218
<br />Investment income (loss)
<br />166,455
<br />327,947
<br />(21,420)
<br />16,153
<br />746,878
<br />Cost recoveries
<br />681
<br />7,271
<br />14,484
<br />Total revenues
<br />$ 9,152,321
<br />$ 7,277,273
<br />$ 6,579,603
<br />$ 9,182,804
<br />$13,879,580
<br />Expenditures:
<br />Current:
<br />Public works
<br />$ 2,765,637
<br />$ 2,747,987
<br />$ 2,174,397
<br />$ 2,667,797
<br />$ 1,581,394
<br />Capital Outlay
<br />-
<br />-
<br />-
<br />6,278
<br />-
<br />Deb[ Service:
<br />Principal
<br />1,325,000
<br />1,380,000
<br />1,450,000
<br />1,525,000
<br />1,600,000
<br />Interest and fiscal charges
<br />2,857,681
<br />2,794,681
<br />2,723,931
<br />2,649,556
<br />2,574,431
<br />Total expenditures
<br />$ 6,948,318
<br />$ 6,922,668
<br />$ 6,348,328
<br />$ 6,848,631
<br />$ 5,755,825
<br />Excess (deficiency) of revenues
<br />over (under) expenditmes
<br />$ 2 204 003
<br />$ 354 605
<br />$ 231,275
<br />$ 2334 173
<br />$ 8 123.755
<br />Other financing sources (uses):
<br />Transfers in
<br />-
<br />-
<br />-
<br />-
<br />-
<br />Transfers oriff
<br />($ 4,688,482)
<br />($ 6,038,247)
<br />IS 353,778)
<br />($ 792,016)
<br />IS 1,717,906)
<br />Issuance of deb[
<br />Total other financing sources (uses)
<br />($ 4.688.482)
<br />($ 6,038,247)
<br />($ 353,778)
<br />is 792,016)
<br />($ 1,717,906)
<br />Net change in fund balances
<br />IS 2,484,479)
<br />IS 5,683,642)
<br />IS 122,503)
<br />$ 1,542,157
<br />$ 6,405,849
<br />Fund balances - beginning
<br />$24 65% 705
<br />$23 026 686
<br />$17 343 044
<br />$17 220 541
<br />$18 762 698
<br />Fund balances - ending
<br />$22.174.226
<br />$17,343,044
<br />$17,220,541
<br />$18,762,698
<br />SZL 68.547
<br />1O Prior period adjustment increased revenue and is attributable to accrual of gas tax received within revenue accrual period for 2015.
<br />(2) Intergovernmental Revenues do not match the[otal Gas Tax Revenues reported in Table l above due to the inchrsion of Section2103 and Section2107.5
<br />Revenues, which are not pledged to the payment of the Bonds.
<br />(l) Includes revenues received pursuant to Section 2107.5 of the California Streets and Highways code and revenues received from the Road Maintenance
<br />and Rehabilitation Act of California Streets and Highways Code Section 2030 et seq.
<br />(4) Transfers out to Capital Improvement Fund for construction.
<br />(5) Unaudited.
<br />Source: City of Santa Ana Comprehensive Annual Financial Reports for the applicable periods.
<br />Historical and Projected Gas Tax Revenues - The following table presents the historical and projected
<br />Gas Tax Revenues as prepared by the City. The projections are based upon current circumstances and available
<br />information that the City believes to be reasonable. The assumptions may be affected by numerous factors and
<br />there can be no assurance that such projections will be achieved.
<br />TABLE 4
<br />HISTORICAL AND PROJECTED GAS TAX REVENUES
<br />AND DEBT SERVICE COVERAGE
<br />CITY OF SANTA ANA GAS TAX FUND
<br />For Fiscal Years Ending June 30, 20[ ], through June 30, 201 j
<br />Historical Gas Projected Gas Debt Service
<br />FiscalYear Tax Revenues Tax Revenues Debt Service Coverage
<br />BOND OWNERS' RISKS
<br />The following describes certain special considerations and risk factors affecting the payment of and
<br />security for the Bonds. The following discussion is not meant to be an exhaustive list of the risks associated with
<br />553100
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