Annual Debt Statement Flashcards
1
Q
Calculation for Self-Liquidating Utility
A
Total receipts realized
Less Operating costs (budgeted)
(S&W, OE, Statutory expenditures)
Less Debt Service (paid or charged)
EXCESS in revenues is self liquidating (all deductible)
DEFICIT in revenues is not self-liquidating
Calculation for net deduction is:
Amt of deficit ( X ) 20 = dedeuction
Gross Debt - Deduction = net debt
