Financial Analyses Included Herein Present the Operating Revenues and Expenses Only for Those Properties Governed by the State Lease Agreements

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Financial Analyses Included Herein Present the Operating Revenues and Expenses Only for Those Properties Governed by the State Lease Agreements SSSeeewwwaaarrrddd aaannnddd Monde CERTIFIED PUBLIC ACCOUNTANTS RAIL GOVERNANCE STUDY Task 4.3 – Financial Review Connecticut Department of Transportation Table of Contents INTRODUCTION ........... ............... ............... ......................... ............... 1 - 3 OVERVIEW OF ALL STATIONS ............... ............... ......................... ............... 4 - 8 STATION COMPARISON ANALYSIS Five Year Totals ............... ............... ......................... ............... 9 Year end June 30, 1996 ............... ............... ......................... ............... 10 Year end June 30, 1997 ............... ............... ......................... ............... 11 Year end June 30, 1998 ............... ............... ......................... ............... 12 Year end June 30, 1999 ............... ............... ......................... ............... 13 Year end June 30, 2000 ............... ............... ......................... ............... 14 STATIONS - NEW HAVEN LINE Main Line New Haven Finances ........... ............... ............... ......................... ............... 15 - 19 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 20 - 22 Milford Finances ........... ............... ............... ......................... ............... 23 - 25 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 26 - 28 Stratford Finances ........... ............... ............... ......................... ............... 29 - 31 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 32 - 34 Fairfield & Southport Finances ........... ............... ............... ......................... ............... 35 - 39 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 40 - 42 Westport & Green's Farms Finances ........... ............... ............... ......................... ............... 43 - 46 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 47 - 49 East Norwalk Finances ........... ............... ............... ......................... ............... 50 - 52 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 53 - 55 South Norwalk Finances ........... ............... ............... ......................... ............... 56 - 57 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 58 - 60 Rowayton Finances ........... ............... ............... ......................... ............... 61 - 63 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 64 - 66 Darien & Noroton Heights Finances ........... ............... ............... ......................... ............... 67 - 69 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 70 - 72 ______________________________________________________________________________________ Connecticut Department of Transportation Old Greenwich / Riverside / Cos Cob Finances ........... ............... ............... ......................... ............... 73 - 75 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 76 - 78 Greenwich Finances ........... ............... ............... ......................... ............... 79 - 80 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 81 - 83 New Canaan Branch New Canaan & Talmadge Hill Finances ........... ............... ............... ......................... ............... 84 - 86 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 87 - 89 Glenbrook & Springdale Finances ........... ............... ............... ......................... ............... 90 - 91 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 92 - 94 Danbury Branch Danbury Finances ........... ............... ............... ......................... ............... 95 - 97 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 98 - 100 Bethel Finances ........... ............... ............... ......................... ............... 101 - 103 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 104 - 106 Redding Finances ........... ............... ............... ......................... ............... 107 - 109 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 110 - 112 Branchville Finances ........... ............... ............... ......................... ............... 113 - 114 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 115 - 117 Cannondale Finances ........... ............... ............... ......................... ............... 118 - 119 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 120 - 122 Wilton Finances ........... ............... ............... ......................... ............... 123 - 124 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 125 - 127 Merritt 7 Finances ........... ............... ............... ......................... ............... 128 - 129 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 130 - 132 Waterbury Branch Waterbury Finances ........... ............... ............... ......................... ............... 133 - 134 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 135 - 137 Naugatuck Finances ........... ............... ............... ......................... ............... 138 - 139 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 140 - 142 ______________________________________________________________________________________ Connecticut Department of Transportation Beacon Falls Finances ........... ............... ............... ......................... ............... 143 - 144 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 145 - 147 Seymour Finances ........... ............... ............... ......................... ............... 148 - 149 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 150 - 152 Ansonia Finances ........... ............... ............... ......................... ............... 153 - 154 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 155 - 157 Derby Finances ........... ............... ............... ......................... ............... 158 - 159 Station and Parking Operations Profit (Loss) - 1996--2000 ............... 160 - 162 ______________________________________________________________________________________ Connecticut Department of Transportation INTRODUCTION In connection with Task 4.3 – Financial Review of the Rail Governance Study, a consulting engagement was performed to determine the cost of operating the station buildings and parking facilities and the revenues generated for the properties located along the New Haven, New Canaan, Danbury and Waterbury railroad commuter lines. The Stamford and Bridgeport railroad stations and parking operations have been excluded from this task. As the result of this engagement, financial information is presented in this report for comparing costs between these railroad properties. The financial information was gathered to present the following items for each station for the five fiscal years ending June 30, 1996 to 2000: The source and adequacy of revenue at each station, The type of expenses at each station, The accounting systems and procedures, and A written financial analysis overview. The information was also used to present: A comparisons of costs and revenues between the properties along the commuter lines, A financial comparative summary total of the five-years and A written summary overview. The financial information presented herein was provided by the various reporting entities who are responsible for maintaining and operating the properties under the governance of a lease agreement with the State of Connecticut Department of Transportation (the State). The financial information as reported by the entities is presented here in a format for comparative and analytic purposes. This study did not include an audit or application of auditing procedures to the financial information presented. A standard reporting format and standard classifications were used for comparative purposes. As a result, certain stations and parking finances show zero amounts for certain standard classifications while other stations show financial activity for the same classification. There are certain properties used for railroad parking operations that are not subject to a lease agreement with the State. This fact is noted in this presentation when applicable. The financial comparison is presented in summary form and separately for each station or group of stations under a common lease. The detailed classification of revenues and expenses, and presentation of statistical measures (square footage, spaces, etc.) are not generally required to be reported by or are they readily complied by the local governments. The general absence of detailed financial classifications of data has precluded the calculation herein of financial ratios based on detailed statistical measures. Connecticut Department of Transportation 1 An explanatory narrative is included for each property. The narrative is an overview that addresses the following financial topics and includes comments and other topics as deemed necessary: Accounting Entity And Basis Of Accounting Financial Reporting Revenues Expenses Expense Allocation
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