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OnJune302012CATSclosedFY2012withanunauditedfundbalanceo-111x89millionx8Actualoperatingcostof101.2million.FY2012wasthethirdyearinwhichCATSreduceditsoperatingcoststobalancerisingexpensesandlower-than-budgetedrevenuesx8CATSmanageda1.7millionreductioninOperatingcostswithnoreductioninservicehourswhileabsorbing569118inhigher-than-budgeted-uelcostsx8TheStateFullFundingGrantagreementforthe9.3-mileLYNXBlueLineExtensionBLElightrailprojectwasexecutedinMarch2012x8CATSappliedforx17vecompetitivegrantopportunitiesofferedbytheUx8Sx8Departmento-Transportationwithapplicationstotaling62millionx8CATSexceededalloftheFinancialPolicyObjectivesinFY2012.Noteworthyachievementsweremadeinthecosto-serviceperrevenuehourdebtservicecoverageratiosandtheyear-endunobligated-undbalancex8FINANCIALSUMMARYInFY2012CATScontinuedto-ulfllitsmissiono-providingoutstandingcommunity-widepublictransportationservicesto26x85millionpassengerswhileproactivelycontributingto-ocusedgrowththroughadvancemento-theLYNXBlueLineExtensionprojectandsustainableregionaldevelopmentx8FINANCIALPERFORMANCEInFY2012CATSexceededallo-itsFinancialPer-ormanceobjectivesx8FINANCIALPERFORMANCEINDICATORMEASUREFY2010ACTUALFY2011ACTUALFY2012UNAUDITEDOperatingRatioOperatingRevenuesOperatingExpensee2023x87627x86627x883PassengersperHourBuse20passengersperhourRaile90passengersperrailcar24x86106x8325x80104x8926x88108x80CostGrowthCostperHourSystemlessRailCostperHourRailcar90x803278x85786x868274x86689x811247x813AdministrativeOverheadd155x8627x8548x895CapitalInvestmentLevele20o-SalesTaxRevenue38x80030x85936x826NetDebtServiceCoveragee1x8151x8421x8151x877GrossDebtServiceCoveragee3x803x8733x8744x89FundBalanceinmillionse100million106x81100x87111x89FY2012FINANCIALHIGHLIGHTS14